This blog post from April 2nd, 2019 discussed the mainstream belief that a recession could happen within a few years. Some of the numbers from the survey were 70% of economists and 42% of those looking to purchase a home also believe that a recession will set in 2019 or 2020.
The economy has done well in the early months of 2019 and some of the key economists and members of the financial community have changed their minds. Here’s what they are saying:
Anthony Chan, Chief Economist at JPMorgan Chase
“It doesn’t look, to me, like the odds of a recession in 2020 are there,” he concluded.
Dean Baker, Senior Economist at the Center for Economic & Policy Research
At least not unless something else bad happens, there is not a recession on the “horizon.”
Lisa Shalett, Chief Investment Officer, Wealth Management at Morgan Stanley
“…my advice is to ignore the alarmist headlines and stick with an asset allocation plan that fits with your risk tolerance and long-term goals.”
Bottom line: there are three things I can absolutely guarantee about the economy. It’s going to go up, it’s going to go down or it’s going to stay the same. Are you ready for any of those moves? When it comes to real estate, make sure you have The Mortgage Professional in your corner.