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Today I’m joined by Dave Marzinke from Movement Mortgage to talk about whether we will be facing a recession in the near future.
Goldman Sachs and Merrill Lynch are saying that there is a 35% chance that we’ll see a recession next year. There are some indicators, like inflation, in the market that support this theory. When the Federal Reserve starts raising interest rates to get a handle on inflation, that's often a precursor to a recession as well.
Many people think of the 2008 housing market crash when they hear the word recession. However, that was an anomaly and isn’t what normally happens during a recession. Historically, real estate has either performed well or above expectations during recessions because interest rates come down during those times. That helps with affordability. The economics are completely different than in 2008.
If you have any questions, give us a call, text, or email. We look forward to speaking to you.
