Should you sell your home? (COVID Edition)
Independently on whether you believe the market will crash or that the economy will get going strong again unharmed, what you should be considering is all the scenarios and what that implies to you in gains and losses.
Based on inventories, prices locally will not be rising, or if they do, very little.
On the other hand, if there is a market crash, prices will drop significantly.
SO by holding your real estate asset, you are risking a big downside without a potential gain if things go well.
If you are intending to hold your property for many many years, then this does not apply to you, as the losses or gains will not be realized and the market will come back in the long run.
If you are thinking of selling in the next couple of years, you should sell now, take advantage of the low rates that are incentivizing sales, and wait to see what happens.
If the market does crash, you will have the liquidity to take advantage of low prices and come back into real estate.
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