2008 notwithstanding, home is usually a good place to be in a recession.
The strong start to the 2020 real estate market was an encouraging sign for area homeowners. Then COVID-19 hit, and suddenly life is on hold for millions of Americans. Naturally, that raises questions about the long-term prospects for housing and homeownership.
But when it comes to real estate, many experts are looking at this soon-to-be-official recession differently than the last one. Here’s a look at why the housing market may very well make a strong recovery and even be a driver of future economic growth.