People are fearing a recession right now and I think it's important to talk about it. There are lots of things that we didn’t understand when we were just beginning in the real estate business and through our podcasts, we hope to give you some tidbits that will help you on your investing journey. A recession is generally identified by a fall in the GDP in two consecutive quarters. So quarter four of last year, it was at plus 6.9% and then in quarter one of this year, it was at negative 1.5%. We're looking pretty okay, based on the predictions.
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There's a lot of uncertainty and it continues to compound essentially. So we're seeing a lot of the effects of the recession, even though we're not actually hit by it. But if we hit it, what investments are good for us? The answer is affordable housing. In 2008, which they call the Great Recession, single families plummeted. It was dubbed the real estate market crash. What a lot of people don't realize is that multifamily and mobile home communities during that time thrived. Even during COVID, mobile home communities and occupancy and rent went up. Green Street advisors said that mobile home communities are expected to outperform all other sectors through 2024. You want to keep on your 20 Mile March and not stop investing, not sit on the sidelines because you're fearful.
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