While the current economic doldrums may look different from previous downturns, there are certain things that remain the same
However, Boneparth also advises clients to look for opportunities.
"Good investors need to be proficient at not just buying on the way up but buying on the way down," he said. During the last recession,"anyone with hindsight would have enjoyed some of the steepest discounts in the capital markets," he said.rising as fast as they once were and a recession would very likely cause the housing market, as a whole, to slow down, according to Jacob Channel, senior economist at LendingTree.
Lending standards could also tighten, which means that many would-be homebuyers could find that getting a loan is difficult, or they'll have to pay a higher interest rate to close the deal."All in all, this means that a recession would make it harder for people to get mortgages and to buy homes," Channel said.The housing market is in a much better place than it was in the early 2000s, Channel said.
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