Updated almost 9 years ago on . Most recent reply
Real-Estate Recession Question
Good Morning Biggerpockets.
I'm still very new to this site and still learning more an more about this whole world, but I wanted to ask about some talk of upcoming recessions I've been hearing recently.
Background: I'm 22 and in the military, enlisted, stationed in Augusta GA. Pretty soon I should be moving off base with a housing allowance and I so far plan on buying a house with the intent on turning it into a rental when I leave, be it for deployment/PCS/separation/etc.
Recently though I've been hearing people talk about the possibility of a recession (most recently MMM) in the coming year or two, or even as soon as Q3 of this year.
What I would like to ask is, how might you predict the housing market will be affected by a recession? Should I hold off on a purchase and wait for prices to drop instead of possibly being trapped in a house that is worth less than the mortgage? Would it be a better idea to rent in the mean time? I'd like to draw on the collective wisdom of this forum and learn a bit more about this stuff.
Thanks ahead of time.