How is Housing Affected by the Predicted Economic Slowdown?
By Kevin Whatley, Professional Mortgage Lender
Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market?Here are the opinions of several experts on the subject:Ivy Zelman in her latest “Z Report”: “While economic activity appears to have accelerated so far in 2018, some prominent economic forecasters have become more cautious about growth prospects for 2019 and 2020… All told, while solid long-term demographic underpinnings support our positive fundamental outlook for housing, in the event micro-economic headwinds surface, we would expect housing transaction volumes and home prices to weather the storm.” Aaron Terrazas, Zillow’s Senior Economist:“While m...
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