Everyone is talking about the recession and putting fear into the market. At the end of the day, in real estate, deals are going to happen in any market. The only thing that matters is if you are in a position to make a move in this market or for when/if the market does make change?
There are plenty of articles out on the internet, where everything is true, that speculates on what the market will do based upon what has happened in the past. And while this can and sometimes does help in preparing for the coming future. These indicators are also just predictions. The name Dorian should tell you that those doing the predicting are not always right and can cause fear if you take them at their word.
The best thing for anyone to do right now is to heed their warning and position yourself to take advantage of whatever comes our way. The best way to do that is to GET OUT OF DEBT (as much as you can) as soon as possible. If you don't believe that this is the best idea then you need to study what happened to families during the Great Depression and the last Recession caused by the Housing market crash. Generally speaking, those who had debt and were over-leveraged because the banks allowed them to be, got crushed. Those who were debt free with cash set aside, were in a position to buy at below market values.
This same scenario that lead up to the housing market crash in the early 2000's, is happening right now. Where investors are storing up cash to buy when the market takes a dip. Some people are becoming leveraged from other loans, i.e. student loans, and are living way above their means. For now the market is holding strong. If you're not an investor and are looking to make a move in the real estate market you can and should do so. No one can predict what will happen tomorrow. In this market, the house you want won't be valued any lower than it is right now and rates won't always be this low. If you are thinking about selling, you don't know what the market will do tomorrow. Now is a great time to sell while the market values your home at its current rate.
Great resources to read about everyday millionaires who can survive in any market are Millionaire Next Door by Dr. Thomas J. Stanley and Everyday Millionaire by Chris Hogan. I am not paid to recommend these books, but I have read both and can say from personal experience to find what is written to be truthful. You don't have to follow the advice given, but at least now you'll know what steps you can take if you were to decide to change you and your families financial future.
If you'd like to learn more about the real estate market in South Florida then you should sign up for my weekly email newsletter to stay up to date. Feel free to message me if you are interested in buying or selling real estate in South Florida. I will give you my honest opinion of where the market is at, based upon the conversations I'm having with other realtors and home owners on a daily basis.