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Updated almost 7 years ago on . Most recent reply

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398
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Russ Draper
  • Investor
  • Boston, MA
147
Votes |
398
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upcoming real estate crash and home prices

Russ Draper
  • Investor
  • Boston, MA
Posted

All over the financial news I read talk about the upcoming financial recession.  Some people think it is "just around the corner", some think it will be in early 2020, and others thing its a long way off.  All of them of course think there is a recession coming.

If there is going to be a recession, home prices are likely to take a hit again.  So I wanted to ask, how many people here are considering selling their real estate?  Right now whenever I go look at properties they seem to be selling for above what appears to be reasonable, as if speculators are buying them.  Which reminded me of home prices and even multifamily prices before the 2008 recession.  What are you doing to prepare for it?  Or do you not think there will be a recession?

Most Popular Reply

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17,429
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
30,071
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Russell Brazil
  • Real Estate Agent
  • Washington, D.C.
ModeratorReplied

You only lose money when you sell, so price movements are irrelevant if you dont plan on selling. 

That being said, Id rather lock in more debt at historically low interest rates than pay 2 or 3% less for a property while paying a 2% higher interest rate.

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