Taking Advantage of Homebuying Affordability in Today’s MarketEveryone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding
How Long Can The Economic Recover Last
Dated: 11/25/2019
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How Long Can This Economic Recovery Last?
The economy is currently experiencing the longest recovery in our nation’s history. The stock market has hit record highs, while unemployment rates are at record lows. Home price appreciation is beginning to reaccelerate. This begs the question: How long can this economic recovery last?
The Wall Street Journal (WSJ) Survey of Economists recently called for an economic slowdown (recession) in the near future. The most recent survey, however, now shows the economists are pushing that timetable back. When asked when they expect a recession to start, 42.5% of the economists in the previous survey projected between now and the end of 2020. The most recent survey showed that percentage drop to 34.2%. Here are the most current results:
Like the economists surveyed by the WSJ, most experts are still predicting a recession will likely occur sometime in the next few years. However, many are pushing back the date for the economic slowdown.
Bottom Line
Real estate is impacted by the economy (and the consumer’s belief in the strength of the economy). The fact that most economic experts are calling for the recovery to continue through 2020 means the housing market will also remain strong for the foreseeable future.
Joanne Mills
Joanne Mills is the Broker Owner of Exit Family Realty in Lindenhurst, NY. Joanne’s has created of brokerage of highly motivated, professional associates making a powerful, positive impact on client....
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