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Buying House During Recession. When the market gradually recovered in 2006, average psf had gone up to $1,886. However, if you do buy property and a recession hits, you’ll be fine so long as you keep paying your mortgage and property taxes.
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Home prices are still increasing with demand overpowering supply. If you are looking at homes during a recession, there are some definite benefits you should consider. If you are thinking about buying your first home or an investment property in the midst of a recession, consider these tips before you dive in:
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There are many upsides to purchasing a house during a recession, but there are some downsides, too — namely, the fact that as the economy weakens, the unemployment rate goes up. However, there are downsides to buying during a recession as well, and it’s important to take the right approach if you want to make the right decisions along the way. The process of buying a house can be a bit complicated during a booming economy. 10 ways to buy a house during a recession:
