With a possible recession coming, is buying a already built house, manufactured or having it built smart for potential home buyers? because I have talked to realtors and yes i know that they are saying its smart to buy because the cost of houses are lower and they need the commission, but the economists are saying that buying a house right now even though the prices are great to purchase, a recession would cause an "iffy" cloud over our jobs, furture costs, and rising prices of goods, utlities, and industries. Because of layoffs, closing, and jobs being sent overseas. Which one is right?
I live in NC which is textile country and Yes they are talking about a tax rise, but hasn't done it yet.
I've been a school bus driver for 6 years and right now the school systems in NC are looking at the costs of fuel. We've had a point before where we thought that the school was going to have to cut on the number of days the kids went to school, but it didn't happen where I lived, but it did happen to other counties in NC. Me and my husband are looking and see he's got a better chance of changing jobs than I do because he used to be a truck driver. So as of right now we have some money but not enough.

POSSIBLE....COMING; we are there, this is what a recession looks like, and feels like! The Question Now is how long could it last, and just how low will it get!

A smart home-buyer is no longer speculating on what profit they will receive at re-sale, a smart home-buyer is looking at a home as a long term investment alternative to renting, a smart home-buyer does not go by the listing price either....

Realtor is just an acronym for "Home Sale Middlemen~"

Home prices are lower than they have been recently and interest rates are also low. That is a constant for pretty much for everybody. That makes it a good time to buy. How the present and future economy will be for you may not be the same for everybody else.

Which one is right, depends on who you are. If you feel secure in your job and have the means than buy. Don't expect to make a quick buck off real estate at this point. As far as the type of house to buy, we have an over supply of existing home. That would probably be the best bet eventually they will go up in value. Manufactured, aka mobile or trailers tend to depreciate in any sort of market.

It depends. Are you in a city where prices went way up in the first place (mainly the E or W coast)? Then prices might have further to drop yet. Or do you live in the midwest, where prices havent gone up, but there hasnt been a dramatic loss either? Prices are pretty stable there, and are likely to remain so.
Is you job at risk due to outsourcing or a recession? If so, do you have an emergency fund that would get you through 6 months or so of bills? How long would it take you to find another job? If you have enough of an emergency fund if your job disappeared to cover you until you could find another one, then there isnt a huge risk. If your job is highly likely to go away and it will be very difficult for you to find another, and you have no savings, then there is a large risk.
You really need to look at your individual situation very closely and decide for yourself.

Buy a house IF you can afford the payment and the additional costs of home ownership such as neighborhood maintenance fees, landscaping, utilities, taxes, insurance, etc. Even with the mortgage tax write-off, you can't just compare monthly rent to house payment and think you can afford home ownership.

Also, only buy the house if it's really a good deal. Research the neighborhood and the home builder to see if this area is up and coming or declining, and make sure the home is of good quality and a classic architecture style that will hold or increase its value and stay structually sound with reasonable upkeep. (Brick or stone is easier to maintain than wood that has to be repainted every few years, for instance, and is also cheaper to insure because of fire hazard.) It's also a good idea to look for a home that is energy efficient or even with "green" features to help with rising utility costs.

I would not buy a "manufactured" house, as in mobile/modular home EVER. They do not appreciate in value as a traditional construction home does, and they are not as energy efficient or insurable.

The other part of your question is something you have to make as educated of a risk assessment you can of your own situation--how secure do you think your job is, and how stable are you financially otherwise. Do you have savings to handle the down payment and good credit to get a good interest rate? Do NOT let someone talk you into one of those variable or nothing down sub prime deals with no equity in the home, that's where people have gotten into trouble.
If you have sufficient equity in the home and it is well built and in a good neighborhood, you shouldn't have a lot of trouble selling it in a timely manner and coming out ok, even if worse came to worse and your situation changed and you could no longer afford it. But if you have paid more for it than it's worth or borrowed the whole purchase price, you have no room to negotiate if a recession causes values to decline.
If the area where you are looking is dependent on industries that are on the verge of collapse, I would be leary of investing in a home, as many families may be moving elsewhere if things get worse, and there won't be others moving in as potential homebuyers.

I know that all that is a lot to think about, but home buying is a big decision that should be given a lot of thought.