Homebuyers Hope Recession Brings Relief From Sky-High Prices, But Risks Remain
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Nearly two-thirds of potential homebuyers would welcome a recession if it meant lower mortgage rates, but a recession could also impede homeownership.
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Buyers feel the current housing affordability crisis is unprecedented, with many believing they'll never afford a home.
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In a recession mortgage rates may fall, but home prices may stay high due to low supply. Layoffs could also make it hard for some to get a mortgage.
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Some buyers are willing to take on side jobs, cut spending, or lock in higher rates to buy now and refinance later. Others are moving in with family or delaying life events.
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Alternatives like investing in rental properties or commercial real estate can provide exposure to real estate without buying a physical home.