What Would A Recession Mean for the Housing Market?
It’s so important to dig deeper and look behind the headlines. News headlines are meant to grab your attention immediately. Overwhelmingly, they grab your attention by fear, alarm and just generally negative. So as your Maui real estate advisor, I always want to present you data to help you make “educated, informed decisions”. Now that doesn’t mean that a healthy dose of caution is not sometimes warranted but it means that you don’t just blindly read headlines and think that is the true story. Having worked thru the Maui Real Estate Market during and after the 2008 financial crisis, I can tell you firsthand that headlines were out of control. During that time, I represented buyers who made informed, level-headed decisions to their benefit. So alot of was learned from that experience.
So here is some historical data to help you have another view of the housing market in our nation. No one, not even the “experts” can foresee the future but we can at least do our own due diligence and get informed. It will be interesting to see how 2022 ends. Here on Maui, I can tell you (anecdotally) now that the “frothiness and frenzy” has calmed down. Sellers being overly optimistic had to tame their expectations but many are still having healthy gains. Always consult with your local real estate advisor to understand the microdata in the area of interest.
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