If everyone is waiting for a recession to buy property at low prices, wouldn’t it be even harder to buy?

As a recession is around the corner in the UK, many people including myself are waiting for property prices to drop in hopes to buy in at reduced property prices. Although interest rates for mortgages may be higher, the general consensus appears to be that the overall reduction in house price justifies buying during a recession.

However, if most people are aware of this, wouldn’t this mean there would be even MORE demand during a recession as everyone wants in at discounted prices? Causing even more supply shortages and for prices to not change at all?

Any explanation would be greatly appreciated!

submitted by /u/-Adapted
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As a recession is around the corner in the UK, many people including myself are waiting for property prices to drop in hopes to buy in at reduced property prices. Although interest rates for mortgages may be higher, the general consensus appears to be that the overall reduction in house price justifies buying during a recession. However, if most people are aware of this, wouldn’t this mean there would be even MORE demand during a recession as everyone wants in at discounted prices? Causing even more supply shortages and for prices to not change at all? Any explanation would be greatly appreciated! submitted by /u/-Adapted [link] [comments]

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