A Recession Does Not Automatically Mean a Housing Crisis Is Looming
There’s no doubt that it’s a turbulent time in the United States. In fact, many media outlets and financial experts have even been heard muttering the dreaded R-word – recession. Few other words in the English language drive as much fear into the hearts of Americans as recession, and it’s no wonder. The last recession, in 2008, resulted in a housing crisis that saw millions of people lose their homes.
With warnings of another recession possibly occurring in 2020, what should you expect? How will a recession affect the housing market?
While a recession is never a “good” thing, the reality is that if one occurs in 2020, there are no signs indicating that another housing crisis will develop. In fact, out of the last five recessions, only two had negative effects on the housing industry.
It’s a Different Market Than 2008
Unlike in 2008, the national housing market is strong right now. Sales are projected to increase in 2020 and home prices are expected to continue to appreciate for the next two to five years. Changes in the housing market in 2008 played a role in the recession, and those changes aren’t in play this time around. Instead, if a recession occurs, it will most likely be the result of a geopolitical crisis, trade policy, or stock market correction.
Currently, the two biggest threats to the longest running economic expansion in U.S. history are the facts that 2020 is an election year and our ongoing trade wars. The result of this unique combination may be an economic slowdown, but by no means should things decline to the point that we are faced with another Great Recession.
Be Upfront and Honest With Your Clients
Home buyers are worried about the prospect of another recession. Therefore, you need to dispel their concerns and help them see through their preconceived notions. Remember – recession does not mean housing crisis. Be prepared for the panic and be there to provide your clients with the right information backed by the facts. If you can dismantle their fears, then they’ll see it’s still a great time to buy a home.
Boost Your Mortgage Lead Conversions With RGR Marketing
This year is going to be a great one for mortgage companies, despite all the whisperings of a looming recession. Get ahead of the competition and fill your sales funnel with qualified mortgage leads from RGR Marketing. Our mortgage leads are not shared with other lead generation providers and they’re pre-verified for accuracy, so they’re primed and ready for your sales team to convert.
We have more than 20 years of experience providing mortgage brokers like you the leads they need to grow and succeed and we can help your business grow this year. Give our mortgage leads a try and see the difference quality makes.
If you’re looking for an affordable and effective way to increase your mortgage prospects, then contact RGR Marketing today. We can provide you with exclusive access to high-quality leads that can help you grow your business in 2020.
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