Recession Watch: Will Another Downturn Rock the Housing Market?

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REALTOR.COM (FEBRUARY 21, 2019) – Renters won’t be spared by a recession

Cash-strapped tenants hoping for a rent break likely won’t get lucky even if the economy does start to slump. Rent price growth is likely to slow or even stall as fewer folks are going to be dropping big bucks on housing, says Greg Willett, chief economist at RealPage, a property management technology and analytics company focused primarily on rentals. But it’s not likely to fall.

The exception is the luxury market, where landlords will have the most trouble finding tenants.

“Luxury will feel the pain first,” says Willett.

There could be some longer-term consequences as well as fewer rental developments are typically built when the economy sputters, so when things are a bit rosier, there may be fewer units available to fill demand.

Read more at: REALTOR.COM.