It seems that whenever you pick up a newspaper or turn on the news these days, a scary word hits you in the face: "recession." Germany is already teetering on the brink of recession; an unruly exit from the European Union this fall could cause one in Britain; and in the U.S., a rapidly escalating trade war with China is increasing fears.
But although the R-word may be a trigger for those who remember—or even experienced—the mass layoffs, scores of foreclosures, and plummeting home prices of the last downturn, folks shouldn't panic just yet. And they shouldn't expect another real estate fire sale.
"This is going to be a much shorter recession than the last one," predicts George Ratiu, senior economist with realtor.com®. "I don't think the next recession will be a repeat of 2008. ... The housing market is in a better position."
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