Question

Why might buying a home during a recession be a good decision for some consumers? Choose three answers.

Housing prices ar d
It is easier to get a mortgage.
Less demand means more options for buyers.
Less demand means less competition with other buyers.
Fewer houses are on the market.
down.
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Answer 1

Buying a home during a recession can be advantageous due to lower housing prices, increased options for buyers, and easier mortgage approval.

Step-by-step explanation:

Buying a home during a recession can be a good decision for some consumers for several reasons:

1. Housing prices are down: During a recession, the housing market tends to experience a decline in prices. This means that consumers can purchase a home at a lower cost, potentially saving money in the long run.
2. Less demand means more options for buyers: With fewer people looking to buy homes during a recession, there is less competition for available properties. This can give buyers more options to choose from and negotiate better deals.
3. It is easier to get a mortgage: Banks and lenders may be more willing to approve mortgage applications during a recession, as there may be less demand for loans. This can make it easier for consumers to secure financing and purchase a home.

Learn more about advantages of buying a home during a recession