Homebuyers are watching the economy closely, and for good reason. Buying a home is one of the biggest purchases most people ever make. And some recession talk in the media has made a lot of would-be buyers second guess their plans.
In the latest LendingTree survey, almost 2 in 3 Americans said they think a recession is coming. And 74% of respondents say that's having an impact on their financial decisions.
But here’s the good news: the experts aren’t nearly as concerned.
Most Americans Expect a Recession, But Most Experts Don’t
According to an October report from the Wall Street Journal (WSJ), only 1 in 3 experts surveyed say we may be headed for a recession sometime in the next 12 months (see graph below):
If the expert economists aren’t super worried, should you be? We’re not in a recession right now. And there’s no guarantee we’re heading into one.
What we do have is uncertainty – and the best way to handle that is by leaning on facts, not fear. You can do that by making sure you have the information you need to make an informed decision.
Tips for Buying a Home During Periods of Economic Uncertainty
Here’s the best advice anyone can give right now. While it’s important to keep an eye on what’s happening in the economy, that shouldn’t necessarily overshadow your real-life needs. Economic shifts come and go, but the reasons people buy homes rarely change. Danielle Hale, Chief Economist at Realtor.com, explains (click "Learn More" to finish the article)...
