Having second thoughts about buying a house in the next year? Fear not. The economic uncertainty propelled by Coronavirus is calling to mind the Great Recession, but the two events are fundamentally different. Here’s how – and the four signs that are showing us how housing will actually advance economic recovery rather than inhibit it post-pandemic.
The housing market is positioned to help aid economic recovery as we overcome the pandemic. In contract to the Great Recession, an external force is driving the economic downturn we are currently experiencing – a downturn from which many economists expect a rapid recovery. The housing sector is still in a development stage, a positive sign that is will help lift us through any downturn. High producing agents with boots on the ground are telling us that the American dream is still very much alive – and the pent-up demand exists to prove it.
Make sure you’re informed and ready when it’s time to make your homebuying dreams a reality. Connect with a mortgage banker today.