As a nation, we’re moving through uncharted territory. The first modern pandemic is spreading in the United States. As a result of COVID-19, we’ve seen emergency declarations, travel bans, stock market disruptions, ailing businesses, and canceled events — from sports to conventions and worship gatherings to schools.
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If you’ve been keeping up with real estate market buzz, you have undoubtedly heard the rumors of a housing recession on the horizon. We ourselves have made mention of this possibility. For many of us, even thinking of a recession gives us flashbacks to the Great Recession. That was a devastating time for homeowners and investors of all kinds. Though opportunity arose from the crisis, it was a tough time for everyone.