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Home Forums Real Estate Investing Effect of the current economy of Real Estate

  • Effect of the current economy of Real Estate

  • Neil

    Member
    May 13, 2020 at 12:34 pm

    With unemployment rates at an all-time high, should we expect to see a dip in the real estate market in the coming months?

    Currently, prices seem to actually be trending upwards as properties are actually pulled from the market due to COVID-19. However, I think it makes sense that as unemployment hits households, some people will have no option but to put their properties up for sale in the coming months.

    There’s also a question of what types of properties are effected. The most prevalent business sectors affected by unemployment is the service industry where wages are lower than average. Will a drop in prices in lower-end housing also affect more affluent areas?

    I’m not sure if I’m thinking about things correctly here so I wanted to get some opinions.

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