In today’s real estate market, low inventory and high demand are driving up home prices. As many as 54% of homes are getting offers over the listing price, based on the latest Realtors Confidence Index from the National Association of Realtors (NAR).

Conventional wisdom would suggest that making one of the biggest financial decisions of your entire life is something best done outside of a global pandemic and consequent economic recession. Uncertainty is elevated, people are losing jobs, financial markets are volatile, and businesses face difficulty remaining afloat. In general, these arguments hold water—if you have recently lost your job, it is likely not the best time to purchase a new home.

With no stimulus deal in sight, more than 12 million Americans are set to lose their pandemic unemployment benefits on December 26. An estimated 750,000 of those will be Californians, most of them losing their Pandemic Unemployment Assistance (PUA), the rest pushed out of traditional unemployment assistance (UI) by the expiration of a CARES Act provision.