Stats per Bright MLS on Greater Philly Area
Recession: A period of temporary economic decline during which trade and industrial activity are reduced generally identified by a fall in GDP in two successive quarters.
Market Correction: The general definition of a market correction is a market decline that is more than 10% but less than 20%.
I think it is important for all investors to know the difference between the two here. I don't like to dive too far into stats on BP since there are people here that are much smarter statistically on both side than I am. I do however personally feel that this market is and will continue to be investor friendly.