Does a recession = a housing crisis?

A recession does not equal a housing crisis! See why in the video below. (If the video doesn't load, watch it here.)

I just wanted to chime in with a voice of calm amidst all of the alarmist news about the possible upcoming recession, at least as it pertains to our housing market.

We have seen unprecedented price appreciation over the past few years. That, coupled with rising interest rates (they’ve doubled since the beginning of the year - but again, they remain on the historically LOW end), the soaring cost of living, and on and on... At some point, you’d think these constraints would start to rein in these insane bidding wars.

Truthfully, I hope we ARE heading back toward a bit more of a balanced market… I’m wistful of the days when buyers had the night to “sleep on it”. When they didn’t HAVE to come in over asking, as-is, free rent-back for the seller after closing, promising in writing to name their third born son after the seller (I saw the viral love letter about this).

And let’s be honest, I’m wistful of the days when I wasn’t quite literally burning the midnight gasoline chasing every single JUST LISTED that might just possibly work for one of my handful of active hopeful buyers.

That being said, I do hear the faint whistling of the summer sellers waking up and getting ready to make their moves, so let’s get excited about all of the gorgeous homes that are about to be up for grabs.

I’d love to be the one to help you get into your dream home this summer or whenever the right time is for you.

Laurie Christofano, Realtor
RE/MAX In The Village
630-248-1976
laurie@OPRFhomesforsale.com
OPRFhomesforsale.com
Serving Chicago + suburbs for the past 15 years, and for at least the next 25 years to come!