What If The Market Crashes Again? Should I Still Buy?
Updated: Dec 27, 2018
"What if the market crashes? Is it still smart to buy?" This is a question and a concern that I often receive from different clients and people that I speak with when discussing real estate. When faced with this question, I almost always ask this: "What happened in the years following every single time that the market crashed?" The answer? The market recovered and recorded gains.
When it comes to real estate, just like the stock market, home prices always bounce back. There are places that will not recover, such as places that do not have strong local economy; however, in places such as Seattle and Tacoma, WA, which is where I work as an agent, the market will bounce back. Additionally, not only does it bounce back but this area in particular is usually not affected nearly as bad as the rest of the country due to the local industries. With companies like Amazon, Boeing, and Microsoft, as well as major military bases for the major military branches, it allows the area to continue to flourish in regards to real estate.
So what's the bottom line? In the long run you will win when purchasing a home. You'll still have equity built up and the financial trade-off is still better than renting, even if you have to wait a few years for the market to recover. If you or anyone that you know has any questions, please feel free to reach out to myself or someone on my team!
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