Some of the most common questions we get, as realtors are “How is the market doing” and “Do you think there will be a recession soon”?
Well, the experts have spoken and wait! Expert economists change their minds…
So far we are experiencing the longest economic recovery in U.S. history. Only two years ago the Wall Street Journal (WSJ) surveyed expert economists for the Economic Forecasting Survey and 67% predicted we would have a recession no later than the end of this year (2020).
Now, in an article earlier this month, the Wall Street Journal (WSJ) revealed only 14.3% of those economists now believe we’re in danger of a recession occurring this year. That is a huge difference and great news for homebuyers and sellers.
Strength of the Economy Is Surprising the Experts
Below are some quotes and articles supporting this prediction
The WSJ article stated,
“The U.S. expansion, now in its 11th year, will continue through the 2020 presidential election with a healthy labor market backing it up, economists say.”
CNBC, quoting Goldman Sachs economists:
“Just months after almost everyone on Wall Street worried that a recession was just around the corner, Goldman Sachs said a downturn is unlikely over the next several years. In fact, the firm’s economists stopped just short of saying that the U.S. economy is recession-proof.”
“When Barron’s gathers some of Wall Street’s best minds—as we do every January for our annual Roundtable—we expect some consensus, some disagreement…But the 10 veteran investors and economists who convened in New York on Jan. 6 at the Barron’s offices agree that there’s almost no chance of a recession this year.”
“The U.S. economy is heading into 2020 at a pace of steady, sustained growth after a series of interest rate cuts and the apparent resolution of two trade-related threats mostly eliminated the risk of a recession.”
Robert A. Dye, Chief Economist at Comerica Bank:
“I expect that the U.S. economy will avoid a recession in 2020.”
If you have been wondering if now is a good time to buy or sell a home, the top expert economists sure seem to think so. Call our office today at 305-809-7650 to speak to a LUXE Properties real estate agent for more information.