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A Recession Does Not Equal a Housing Crisis
A Recession Does Not Equal a Housing Crisis. Here are (National) housing numbers of a few recessions. The Northern Colorado Market performed much better than the neational average in that downturn.
- The COVID-19 pandemic is causing an economic slowdown.
- Home values actually increased in 3 of the last 5 U.S. recessions and decreased by less than 2% in the 4th.
- All things considered, an economic slowdown does not equal a housing crisis, and this will not be a repeat of 2008.
- It is too early to tell the total effect on the economy and housing from Covid19.