Navigating Real Estate During Economic Uncertainty: What History Teaches Us About Recessions and Housing
Posted by Judy Orr on
As I'm entering my 42nd year as a REALTOR®, I have helped home buyers and sellers during prior recessions. Many agents quit the business during the Great Recession of 2007-2009, although many refer to the date as 2008, but I was able to stay afloat. The Great Recession was different than the others I was involved in - it was caused by the housing, mortgage and banking industry.
In recent months, economic forecasters and news outlets have increasingly used the "R-word" – recession. For homeowners and prospective buyers, this term can trigger immediate anxiety. After all, our homes represent not just shelter, but often our most significant financial investment. When recession talk intensifies, questions naturally arise about what this means for real…
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