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How long before the downturn begins in the housing market?
14 Answers
- KevinLv 43 years agoFavorite Answer
probably not until after 2020. I think the economy is going to remain incredibly strong throughout the entirety of trumps first term. Trump will likely win a 2nd term because of this, and then there will likely be a recession in 2021 or 2022, and then a democrat will likely win the 2024 election. Similar to how 2000-2008 played out
- roderick_youngLv 73 years ago
Consider the specific area. Are jobs coming to the area, or leaving? If it's a small town, and jobs are leaving for the city, then prices should drop. Or if a major industry has exported jobs. In an area next to, say, a Google or Apple campus, I wouldn't expect a downturn any time soon.
- Anonymous3 years ago
March 7 at 1:17 pm.
- SlumlordLv 73 years ago
It varies market to market. Some areas haven't seen any upturn since the 2008 bubble pop while other areas may still be strong even when the general market has a downturn. I've seen a general weakening of sales where I am already in the last month but I'm not sure if this is the start of a downturn or just a seasonal thing as fall comes to an end combined with interest rates going up a bit.
My best guess is that we'll have a few more years of decent price gains but I really don't know and neither does anyone else.
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- linkus86Lv 73 years ago
It has begun as a result of the rising interest rates. Its just that they aren't so bad yet that its having a serious effect. But don't expect prices to go down, that isn't likely going to happen. Instead at best prices will stagnate simply because there will be less buyers who can afford the elevated interest rates.
- Anonymous3 years ago
It's happening now