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Dave Nimick: What Happens to Real Estate in a Recession?
Manage episode 373252286 series 3499311
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In this episode, Dave discusses:
- The relationship between recessions and real estate.
- What a recession is and the stages of a recession.
- Reasons for a recession.
- A historical look at real estate in past recessions.
Key Takeaways:
- Inflation tends to be a big cause of recessions, which we are seeing right now.
- In a recession, buyer demand almost always falls.
- Unlike in the past, there is likely a lower supply of homes due to fewer new construction homes.
- Potential sellers who bought/refinanced with lower interest rates may be more inclined to stay in their home at that low rate rather than sell.
"None of us want to see a recession … but it’s better to be realistic and prepared, and figure that one may be happening now or in the near future. Nonetheless, it's not going to last forever - these things don't - and the economy comes back." — Dave Nimick
Connect with Dave Nimick:
Website: https://thenimickteam.com/
Email: [email protected]
YouTube: https://www.youtube.com/channel/UC4WqeMs62CL3T5P-w6ncqbQ/videos
LinkedIn: https://www.linkedin.com/in/davenimick/
Facebook: https://www.facebook.com/thenimickteam
Dave Nimick is owner of The Nimick Team, Inc. with Keller Williams Realty
Show notes by Podcastologist: Chelsea Taylor-Sturkie
Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.
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