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Updated over 7 years ago on . Most recent reply

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Steven Hawkins
  • Augusta, GA
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Real-Estate Recession Question

Steven Hawkins
  • Augusta, GA
Posted

Good Morning Biggerpockets.

I'm still very new to this site and still learning more an more about this whole world, but I wanted to ask about some talk of upcoming recessions I've been hearing recently.

Background: I'm 22 and in the military, enlisted, stationed in Augusta GA. Pretty soon I should be moving off base with a housing allowance and I so far plan on buying a house with the intent on turning it into a rental when I leave, be it for deployment/PCS/separation/etc. 

Recently though I've been hearing people talk about the possibility of a recession (most recently MMM) in the coming year or two, or even as soon as Q3 of this year.

What I would like to ask is, how might you predict the housing market will be affected by a recession? Should I hold off on a purchase and wait for prices to drop instead of possibly being trapped in a house that is worth less than the mortgage? Would it be a better idea to rent in the mean time? I'd like to draw on the collective wisdom of this forum and learn a bit more about this stuff.

Thanks ahead of time.

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