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how long will the recession last reddit

There's really no major evidence yet that prices will dip significantly down the road. That may be how long it is required to contain this mess. Press question mark to learn the rest of the keyboard shortcuts

Nobody here knows the answers to your questions.Well prices haven't dipped at all yet. If … Now, inventory is very minimal in most markets and therefore you likely won't see a large reduction in values.Nobody can say with any accuracy. Building Your “IA’s” – Intellectual Assets. It's all guesswork. The current recession which officially started in December 2007, has now run for 12 months. That being said, human nature will prevent a year long lockdown. It's not possible to time the market. This leads to fear, and the media are fanning the flames of this fear.

Save up, buy the house, move on. Currently, both demand and houses on the market have declined leaving home prices roughly the same.

Just keep doing what you're doing.Just because there’s a recession doesn’t mean prices will go down. You still need to save your down payment either way, so if it happens you might be ready sooner than you thought. Unless demand drops significantly, prices will stay the same.A house in a good location is unlikely to lose value because people want to buy that property. In my area people are losing their jobs, and spending their savings. Prices were high before this whole thing started because there was a lot more demand than house on the market. If you see them dip significantly it will be when foreclosures start coming on the market. This could change, however. The stimulus' that govs are handing out will not cover that duration of time. The standard definition of a recession is "a decline in economic activity that lasts more than a few months."

I’m hopeful it doesn’t lead to anything like that but where you will find value is unfinished projects from investors and a few pockets of foreclosed homes but the vast majority will stay the same or dip by at most 5-10% worst caseThat means a $500k home would drop to about $475-450k low endYou aren’t gonna see the fire sales of $500k homes going for $350k.Also with a weaker housing market usually comes tighter credit so you can’t necessarily bank on rates being the same or better, or even being able to qualify.Honestly the age old question of “is it the right time to buy” only really matters if you’re a hardcore investor focused on flips.For everyone else, the right time to buy is when you can qualify for the home you want to buy that you can afford to pay for.It's highly unlikely house prices will go down, at all, let alone significantly. Boxes of food are loaded on vehicles last month at the Los Angeles Regional Food Bank. i.e, how many months do you think I can get to save up for a deposit?Contrary to the other person I do believe that housing will be affected, maybe not to a huge extent as some believe but at least some.

The house prices might go down significantly though and I hope to take advantage of it. The U.S. Frederic J. Brown/AFP via Getty Images

We are in escrow in a competitive market and was able to get a home in our price range without a bidding war. At the same time, the committee noted the recession could be short-lived. r/economicCollapse: Articles and discussion relating to economic collapse. There might be a drop in the housing market or it might not happen at all. The bureau's Business Cycle Dating Committee — the fat lady of economic opera — said the expansion peaked in February after a record 128 months, and we've been sliding into a pandemic-driven recession since. How long of a window do you think one can get before the real estate is back on track? From an official point of view, recessions "end" when the economic bleeding stops, even if it takes years for the patient to make a full recovery. There was a massive surplus of inventory then. Frederic J. Brown/AFP via Getty Images But if there was any remaining doubt that the U.S. is in a recession, it's now been removed by the official scorekeepers at the National Bureau of Economic Research.

If youre planning on being in the house long term the short terms swings don't matter that muchDitto to this. A lot depends on your market but you'll want 5% of whatever you buy plus however many months of reserves make you comfortable.Don't anticipate any major drops in values unless further evidence comes out. A recession in the next couple of years might be certain, if so, how long do you think it'll last? The foreclosure process takes about 2-3 years. I'm trying to look at it from a first time buyer's perspective. The country has officially entered a recession amid the pandemic, the National Bureau of Economic Research said Monday.It may seem obvious, with double-digit unemployment and plunging economic output. At the same time, the committee noted the recession could be short-lived. The committee decided this downturn is so severe it earns the recessionary title, even if the recovery begins quickly.

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