What Does A Recession Mean For Homebuyers?
The housing market is not always in danger of collapsing during a recession. According to experts, the current market will not lead to a crash on the scale of the Great Recession. It is possible that a recession will lead to opportunities for some potential buyers to climb onto the property ladder. There are usually fewer homebuyers during a recession, meaning homes stay on the market for longer. To make their properties easier to sell, owners usually drop their listing prices. Buyers could even end up securing their dream home with a lucky bid at an auction.
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