There are still many buyers that see the value in todayâ€™s market. Also, many people are buying and selling for the typical reasons people normally do: Upsizing, downsizing, moving in to the moving out of the area. Peopleâ€™s basic needs have not changes.
As for the question "How does this market compare to the last time this country was in a recession?"
The current economic conditions have not officially been defined as a recession, so letâ€™s call it an economic downturn for now.
The current economic downturn compared to the 2000-2001 recession. Currently we are seeing slightly less total residential sales but pricing is still way above 2000-2001 levels especially near the water.
wait a while, no hurry to buy, housing prices will decrease further in the coming years.
Now let me remind you, if the dems get the White House and retain both the Senate and the House you can expect to see some wealthy people complain a lot. but the average joe will enjoy the benefits of higher taxes on the wealthy
The really good news is people are growing tired of waiting for the sky to fall as the liberal media has been pointing out so they are starting to buy again. Prices are close to stabilizing as the "greed factor" goes away.
All is right with the world right now!
Now let me remind you, if the dems get the White House and retain both the Senate and the House you can expect to see some hefty tax increases and then the buying power of consumers will go down the drain
JD â€œDanâ€ Weisenburger, GRI
Vanguard Realty, Inc. GMAC Real Estate