Strength of the Economy Is Surprising the Experts - But, Not the REAL Experts

By
Real Estate Agent with www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 228209
https://activerain.com/droplet/5mdv

Strength of the Economy Is Surprising the Experts - But, Not the REAL Experts

 

Frustration with our politically-charged media, convinced me last year that we really needed to hit this ‘R’ rumor, head-on! We had a challenge here in the Rain and had an incredible response from members, sharing their take on an impending recession. 

 

Chicken Little Mentality

 

The response from members who are actively working in the business, showed how they “Plan by Answering the Difficult Questions.” I have to say, we were just in time to share the ‘truth’ with our spheres. As you can see in the graphic below, we were combatting the so-called experts’ opinions that were strongly influencing the media and thus, the public. I still haven’t quite understood why a pseudo recession would be something to gleefully report at our own country’s expense but, that’s another topic for another day!

 

And, as the graphic shows, it seems that our message has been heard, loud & clear. We’re currently in the longest economic recovery in US history. It seems the experts have changed their minds!

 

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 (see graph below):

the real experts KNOW the Charlotte housing market

*The graphic above, the topic and the quotes below are all courtesy of KCM - Keeping Current Matters. We appreciate their diligence in doing the research for us.

 

The WSJ article strongly 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.”

 

Hmm…who would have thought?! I’ll tell you who - real estate professionals who are in the trenches every day. We are a supply & demand business and because Charlotte is a very transient metropolitan, we have a very long way to go to get out of this incredibly strong sellers market. That, in and of itself, will take years to achieve. Not only is inventory low but, it is shrinking; pulling out of this will take longer than one might think - certainly well beyond the upcoming election!

 

The strength of the economy is surprising the pseudo experts

The Strength of the Economy Is Surprising the Experts - But, Not the REAL Experts!

 


 

This optimism regarding the economy was repeated by others as well:

 

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.”

 

Barron’s:

“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.”

 

Washington Post:

“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.”

 

The bottom line is...

Expert opinions (as well as yours truly) predict that there will not be a recession this year. And, yes, that’s great news for you, whether you’re looking to buy or sell a home in Charlotte.

 


 

BUYERS

Visit www.AtHomesCharlotte.com for more information and to search for homes in Charlotte. Of course, your very first step should be enlisting an experienced, local real estate broker. You want to enlist a seasoned real estate professional for your real estate needs. We would love to share our knowledge of the home-buying process and the Charlotte area with you...and give you the grand tour of our gorgeous city! 

 

Hiring the RIGHT Charlotte Realtor® is critical to your home buying success!

 


SELLERS

If you're thinking of selling your Charlotte home, let’s talk! As with everything in life, preparation is key and I will equip you with what you'll need to get you, as seamlessly as possible, through the home-selling process. Our list-to-sales price ratio is higher than the competition and our days on the market, fewer! The market is ever-changing so, hiring the right agent is critical if you want to sell for top dollar in the shortest amount of time. Call or text (704) 491-3310 and let’s get started!

 

*References from any of our sellers are available upon request.  Read our reviews at www.CharlotteRealEstateAgentReviews.com

Hiring the RIGHT Charlotte Realtor® is critical to your home selling success!

 

© Debe Maxwell | The Maxwell House Group | RE/MAX Executive | CharlotteBroker@icloud.com | Strength of the Economy Is Surprising the Experts - But, Not the REAL Experts

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Re-Blogged 1 time:

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  1. Raymond Henson, SRES, GRI 02/07/2020 01:17 PM
Topic:
Real Estate Market Trends
Location:
North Carolina Mecklenburg County Charlotte
Groups:
North Carolina Real Estate
Charlotte North Carolina Area
Advice for Sellers
Bananatude
Hyper-Local
Tags:
housing update
the health of the housing economy

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Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
The right Charlotte REALTOR!

Same here, Wanda Kubat-Nerdin - Wanda Can!  I woke up to a buyer being in a bidding war this morning (over $500K home). You don't have bidding wars during a recession unless it's on $50 - $100K property with investors!

Feb 09, 2020 09:59 AM #53
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Debe Maxwell, CRS
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Initially I was naive enough to believe they really did believe what they were sharing, Dorie Dillard CRS GRI ABR. It took me a minute to realize it was politically charged. Who wants to drive their country into a recession? Every single reporter who participated in the false-rumor spreading should be canned! 

Feb 09, 2020 10:01 AM #54
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Debe Maxwell, CRS
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You are not alone - my hubby does the same thing, Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi. He grounds me with his extensive knowledge and research of the markets - daily. I do pay attention to him - sometimes! However, I will say that it will be a different recession the next go-round as it is highly doubtful the RE market will be leading the cause!

Feb 09, 2020 10:05 AM #55
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Debe Maxwell, CRS
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I truly believe that being in the trenches (aka boots on the ground!), makes a huge difference in the ability to forecast. When you're not, some rely on the media - sadly! 

You are well-connected with all sorts of businesses so, I'm sure you have an insider track to many facets of the economy, Grant Schneider!

Feb 09, 2020 10:07 AM #56
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Debe Maxwell, CRS
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As usual, you and I are on the same page, Anna Banana Kruchten Broker/Owner, CRB, CRS! Like you, I am in the thick of it - we KNOW the challenges our buyer clients are facing - and it's not too many homes to choose from either!!

Feb 09, 2020 10:08 AM #57
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Debe Maxwell, CRS
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I agree 100% Ricki Eichler McCallum! And, yes, at our expense...and theirs! I mean, who does this? Not only are our politicians corrupt but, our media is as well!

I have friends who did a 3-week trip to the Middle East on a Jewish Heritage Tour. They happened to be in the exact spot that was being filmed with a well-known, popular reporter and people who were supposedly rioting in the streets after Baghdadi's death. The group was VERY small and the reporter made it out to be a MASSIVE amount of people shouting, "Death to America." 

Instead, the VAST marjority of the country was CELEBRATING his death and THANKING America. NONE of that was reported here. They spoke with several historians and even reporters who shared with them that we, as Americans, cannot trust our media. Their reports of how Europeans or any other part of the world actually feel about America & American politics are totally flawed!

As they were sharing this, they expressed their immense sadness as they had no idea that they were believing in and voting during each election, based upon information provided by multi-media outlets. I have to admit, I knew it was corrupt but, listening to their stories, I think my chin was on the ground for a solid hour. 

So yes, all of that to say, I agree - SHAME ON THEM! 

Feb 09, 2020 10:27 AM #58
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Debe Maxwell, CRS
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I read your comment a couple of days ago and actually laughed out loud, Tammy Lankford, - "Not my sky!" I LOVE it and am in complete agreement with you!

Feb 09, 2020 10:38 AM #59
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Debe Maxwell, CRS
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Laura Cerrano, they were buying during the recession as well - people just didn't want to acknowlege it then either!

Feb 09, 2020 10:39 AM #60
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Debe Maxwell, CRS
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It really does...and to serve what purpose, Sham Reddy CRS?!

Feb 09, 2020 10:41 AM #61
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Well, you know I'm with you 100%, Michael J. Perry!

 

Feb 09, 2020 10:42 AM #62
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Debe Maxwell, CRS
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I just read something about the past century and temperatures - we are 0.8º above where the temperatures were 100 years ago! So, they want to stand on a false platform, spending millions and millions of our tax dollars to further boost their false platform. What are they thinking?

Sadly, I believe that everyone on their side believes the hype, Leanne Smith. Scientists prove them wrong time and time again and that is never reported by the MSM. It really is sad commentary.

Feb 09, 2020 10:50 AM #63
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Debe Maxwell, CRS
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AMEN! I actually heard a sermon the other day that focused on that very thing - and you could apply it to beating addictions, turning your life around, etc. 

Positivity is pretty empowering, Nick Vandekar, 610-203-4543!

Feb 09, 2020 10:53 AM #64
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...and on....and on...

You have a fantabulous weekend as well, Bruce Hicks!

Feb 09, 2020 10:54 AM #65
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Debe Maxwell, CRS
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Yes, that is exactly where the research came from and I'm with you, it was our best year ever too! It would be impossible to make the shift back to a buyers market in less than two years, based on the level of inventory we have now...err, lack of inventory! We're definitely on the same page, Abby Stiller and I feel strongly that it's because we have boots on the ground - we ARE in the thick of this insanely low-inventory market!

Feb 09, 2020 10:57 AM #66
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Yup, it's like the glass half full question... everyone can look at the very same data and no two people have the same perception. Sometimes facts don't matter at all.... it's how can I spin this to fit my agenda.

Feb 09, 2020 10:59 AM #67
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So, the reason is that housing costs have skyrocketed with the improved economy and lower inventory, Jim Crawford. Our inventory isn't just low, it continues to fall. In Metro regions like yours and mine, the entry level cost for first time homebuyers has SOARED.

So, the government is trying to help off-set that and it has allowed more first-timers to get into the market and out of the ridiculous costs of renting these days. 

Our average sales price increased another 9% year-over-year. There is definitely a need to help those first time homebuyers!

Charlotte Average Home Sales Price

 

Feb 09, 2020 11:07 AM #68
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Debe Maxwell, CRS
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YES and that too, Leanne Smith! That is a great point and really does make you wonder. 

Feb 09, 2020 11:10 AM #69
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Debe Maxwell, CRS
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Oh, these people with agendas - I think I need a cause, don't you, Tammy Lankford,?! 

Seriously, if everyone would focus on REAL causes, REAL issues and REAL needs, the entire world would be a better place! 

Feb 09, 2020 11:12 AM #70
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Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
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Sounds like a cracked crystal ball to me...

I hope you had a good Sunday Debe Maxwell, CRS 

Feb 09, 2020 07:51 PM #71
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Debb Janes EcoBroker and Bernie Stea JD
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Hey Rock Star - late to the party. But yes, well said. :) 

Feb 13, 2020 07:45 AM #72
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