Recession-Proofing Your Home Dallas TX

Consumer Reports is advising consumers to recession-proof their financial future by taking steps to shield four areas of financial life that are vulnerable to a shrinking economy.

Housing is one of those areas.

Even though economic growth is chugging along just ahead of the traditional definition of a recession -- two consecutive quarters of decline in the Gross Domestic Product -- some economists say the nation is skirting precariously close to the edge of economic rupture.

UCLA Anderson Forecast economists recently reported the economy is "certainly close" to a recession even as it conceded an economic about face is not imminent.

Consumer Reports says because a recession is declared in hindsight, consumers who wait for the announcement will put their finances in peril.

Along with the three areas of financial life that need attention now -- investments, borrowing and employment -- a fourth area, housing, is already taking a beating in a growing number of markets. Housing woes are symptomatic of recessionary conditions.

Here's how Consumer Reports suggests homeowners prepare to get through hard times that could be ahead.

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