Recession does NOT mean housing crisis

We are all hearing the term “recession” a lot lately. As we all know, its coming and it’s important to remember that the last 5 recessions, 3 saw home values go UP between 3-6% and that is what I want to focus on in the article… I am hearing way too many people talking about 2008 and how it’s happening again… IT’S NOT!!! And I have several reasons I can say that with 100% confidence…  

Lets begin with the obvious… Since 2008 we have done away with stated income and 100% financing products! Buyers since then have skin in the game, and have actual jobs! People who should not be able to qualify for a mortgage simply are NOT getting them… Las Vegas has the lowest unemployment rate in the country, where every single able bodied person who wants to work has a job waiting for them… Vegas is set to open billions of new projects that have been under construction the last few years. We are so excited to see how 2020 is going to turn out, but as boots on the ground I can tell you the end of 2019 and the entire next year will be strong in terms of real estate… Our population is booming and we are still over 100,000 people short for the jobs we need for all the growth we seeing… And the plans for Vegas in the short term have blown me away! There is no shortage of $$ coming into this town over the next several years… It’s important to remember that recession does not mean housing crisis!

Right now in Las Vegas, we are enjoying low low interest rates… Our inventory is back up which we all have been begging for! Still not enough to be called a buyers market, but high enough to where the average buyer at least has some homes to look at… I know there are many buyers out there that are waiting to buy because of all the talk about the looming recession but when you look at the next 9 out of 10 years being forecasted as “growth years” NOW IS THE TIME TO BUY!! I do NOT think we are going to see any substantial decline in housing values and what buyers should be focusing on, is the interest rates… We are VERY LUCKY that the rates came back down… Take advantage of the rates while you can and stop focusing on something that isn’t going to happen! Values are not going to come tumbling down 40-50%, at least that is my opinion for Las Vegas only… And this is just my opinion that is shared by many I work with… If you have any questions and would like to talk more about this call me Daryl Hanna 702-218-4585 or email me darylhanna@gmail.com #realtyonegroup #bhgroup #batchelorhannagroup

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