CAUSE AND EFFECT: Real estate markets most susceptible to housing downturn in a recession
Redfin Senior Economist Sheharyar Bokhari said it's unlikely the country will see a housing market crash — like what happened during the Great Recession — because the factors impacting the economy are different. For one, homeowners have a fair amount of home equity and not much debt. On top of that, unemployment is low.
Bokhari added. "Additionally, places where people tend to have high debt compared with their income and home equity are vulnerable because their residents are more likely to foreclose or sell at a loss." Boise, Idaho, came in second with a score of 76.9 followed by Cape Coral and North Port in Southwest Florida, which scored of 76.7 and 75, respectively, according to the data.
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