On the cusp of another NFL training camp, Redfin is speculating that Cleveland and Buffalo are most resilient. Not as respected football franchises – although they are – but as housing markets, where homeowners stand to lose less ground from recent home-price appreciation.
Redfin's report said the high-flying migration destination cities that lit up the pricing board lately, such as some Sunbelt and work-from-anywhere markets, are most susceptible in a recession.
Redfin senior economist Sheharyar Bokhari said in prepared remarks, "If the US does enter a recession, we're unlikely to see a housing-market crash like in the Great Recession because the factors affecting the economy are different: Most homeowners have a fair amount of home equity and not much debt and unemployment is low."
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