Dear Monty: We are baby boomers that are considering a lifestyle change. We have raised our family here and our children have their own families. We are not scared, but the turmoil we’ve observed during the past two or three years is unsettling. Conflicting views on the economy, interest rate fluctuations, home values and inflation make it difficult to commit to go ahead or stay put. Do you think 2023 will be a good time to make our move?
Monty’s Answer: The real estate marketplace always continues. While it slowed dramatically in the Great Depression of the late 1920s and early 1930s, homes continued to change hands. The market never stops because individual property owners have different circumstances. The major triggers for a home sale in any market are death, divorce and employment changes. The major effect in big downturns is that the market slows dramatically and home values drop.
