Economic Slowdown: What the Experts Are Saying

By
Real Estate Agent with REMAX Realty Group Lic. # SL3154233

More and more economists are predicting a recession is imminent as the result of the pullback in the economy caused by COVID-19. According to the National Bureau of Economic Research:

“A recession is a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.”

Bill McBride, the founder of Calculated Risk, believes we are already in a recession:

“With the sudden economic stop, and with many states shutting down by closing down schools, bars and restaurants…my view is the US economy is now in a recession (started in March 2020), and GDP will decline sharply in Q2. The length of the recession will depend on the course of the pandemic.”

How deep will it go?

No one knows for sure. It depends on how long it takes to beat this virus. Goldman Sachs anticipates we will see a difficult first half of the year, but the economy will recover in the second half (see below):

todays economy updates

This aligns with the projection from Wells Fargo Investment Institute:

“Once the virus infection rate peaks, we expect a recovery to gain momentum into the final quarter of the year and especially into 2021.”

Again, no one knows for sure how long the pandemic will last. The hope is that it will resolve sometime over the next several months. Most agree that when it does, the economy will regain its strength quickly.

 

information provided by KCM

Bottom Line

The sooner we all agree to stay home. The sooner we can resume our normal lives. We are all on this together.

Stay healthy, stay strong and be don't forget to be kind.

Your Realtor for life: Abby Stiller with REMAX Realty Group 

 

 

Posted by

 

Abby Stiller 

Realtor® Lic. #3154233    

12 Years of Experience

RE/MAX Realty Group    Cape Coral Fort Myers Naples  Realtor Cape Coral      

 

I help Home buyers find their dream home & Homeowners sell for more. Thinking of buying or selling? Call/Text me: 239-284-8637   Your Honest & Dedicated Realtor!

or visit: www.TeamStiller.com

 

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Rainmaker
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Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Not sure I agree with all these Talking Heads, that is how they make their money Abby. They make money by instilling fear... leadership is what is needed take my word for it, Endre

Mar 30, 2020 09:05 PM #1
Rainmaker
601,655
Sally Crane
WMS - Unity, WI
Woodland appraisal support.

Thanks for the update, all the best to you as you manage your business during these times.

Sally

Mar 30, 2020 10:56 PM #2
Rainmaker
5,330,076
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

Good morning, Abby Stiller this potential financial state will eliminate many from the real estate business.... they will not be able to hang on.... 

Mar 31, 2020 05:51 AM #3
Rainmaker
5,771,279
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

This is a timely report to share. 

Have an outstanding week as many of us are staying at home.

Mar 31, 2020 07:57 AM #4
Rainmaker
3,404,317
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Abby,  I have to agree with Barbara Todaro, I think some of are fellow  agents may not hang on right now.

 

Mar 31, 2020 02:05 PM #5
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Abby Stiller

Professional Bilingual Realtor (239) 284-8637
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