"Should I Buy a House During the Coronavirus Crisis?"
That's the most common question from today's buyers. To answer this question, I will need to consider:
How long do I plan to stay in this home?
|The graph shows that the median home tenure in the U.S. is now 9-10 years. If you plan to sell/flip in 1-2 years, the answer is probably "not a good time, too much risk". But if you plan to stay longer than 4 years, the market has time to correct from a recession and the answer is "yes".|
Will a COVID recession precipitate a crash in the housing market?
|It's possible, but not likely. A crash is the result of sudden oversupply. As the graph shows, in 3...|