Maryland Reporter, May 19, 2020: A decade after the Great Recession, home values in some communities remain underwater
And now, worries of a new recession brought on by the coronavirus crisis could compound their troubles.
“COVID is going to introduce a period of lower demand for housing,” said Jason Richardson, the director of research and evaluation for the National Community Reinvestment Coalition. “This is important, since it is this demand for housing that supports home values,” he said, adding that within a few months he expects areas where home values have been depressed for years to see values fall even further.
So far, the national housing market remains in good shape.