Should I Wait Until A Recession To Buy A Home?
Is It Smart To Wait For A Recession?
I've had friends and family ask me if they should wait to buy a home once a recession hits. My answer to them is has anyone actually made an accurate prediction of a recession? You may wait years before one ever happens and at that point it would most likely have been smarter to buy your home before the years you waited to get a "deal" because home prices have historically rose.
Tennessee real estate has increased ~6-8%/year for the past 5 years, according to the Federal Housing Finance Agency. So if you wait two years you're going to miss out on a potential ~$12,360 to $16,640 for every $100k you spend if Tennessee keeps it up.
Do Recessions Actually Lower Home Values?
Most recessions…
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