There are so many questions swirling around today about where the housing market is headed amid this economic slowdown. In order to best understand the current state and how the expert projections are playing out, it’s best to look at our economic history, and how today is vastly different than the housing crisis of 2008, known as the Great Recession.
Many of us experienced financial hardships, lost homes, and were out of work during the Great Recession – the recession that started with a housing and mortgage crisis. Today, we face a very different challenge: an external health crisis that caused a pause in much of the economy earlier this year and a major shutdown of many parts of the country.
We’re simply not in the same boat as we were then, and here are five big reasons why that can give you greater confidence if you’re thinking of selling your house this year.