June 13, 2022
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- Sixty percent of housing experts polled by Zillow don’t believe the housing market is in a bubble, compared to 32% who do.
- The panel expects to see a short recession by 2024 as the Federal Reserve works to tame inflation.
- The panel raised home price growth forecasts for 2022 as demand stays strong
First Is when the economists predict the recession will occur Predictions start in the 3rd quarter of this year with most expecting before the 3rd quarter of next year. Surprisingly 16% don’t expect it until after 2025.
The second chart (not from the report) Shows that recessions do not necessarily affect housing prices (the biggest downturn was in 2006 to 2011) the previous 4 recessions saw either price increases and or very slight decreases.
The most pessimistic says over 9% increase for the next 4+ years. The average of all of them is 26% increase- So this chart is great to share with buyers worried about “the imminent crash.” There isn’t going to be a big crash. Share this chart with everyone.
Lies, Damn Lies, and Statistics
Benjamin Disraeli
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