Market crash and it’s effect on housing

[Chris Corey]

Searched the forum and didn’t find anything current about the current status of the market and its potential effect on real estate. I’m looking to purchase a fix and flip that will take some time to complete (1779 stone farmhouse, right in my construction companies wheelhouse). Probably would be ready for sale late summer. Should I assume this will all just be in the rear view mirror by then? Or will people still be licking their financial wounds? Any strategies for picking up the property at the best price in the current climate? Thanks everyone!

[JD Martin]

No way to know one way or the other. All you can do is have sound fundamentals and move forward with the information you've got. Personally, I think the market is just doing a little correction - hell, it's been on a ridiculous upswing for a long time - and once we get through the fear of Stephen King apocalypse things will be just fine. After all, 98-99% of people who catch this thing don't die. So even if everyone in the US caught it you'd be talking about 3 million deaths. OK, that's a lot of death but it's not the end of humanity. Every year 3-4 million people in the US die from all causes anyway and no one even notices.