NAR Chief Economist: We May Be In For A ‘Most Unique’ Recession

Lawrence Yun predicted this year’s housing current market will see declining sales, soaring dwelling price ranges and an American dream progressively out of reach.

At the National Association of Realtors’ midyear convention this week, many association executives mentioned they would set their budgets the moment they read the newest forecast from Lawrence Yun, NAR’s main economist.

Yun, who 1 convention speaker explained as a “rock star,” designed the rounds at various convention classes on Wednesday. He predicted that this year’s housing market would be 1 with declining product sales, mounting residence charges and an American Aspiration progressively out of arrive at as home affordability erodes.

And if a economic downturn is coming, it’s not heading to be the kind we seasoned in 2008. We may perhaps meet the formal definition of a economic downturn — a decline of GDP in two straight quarters — but work opportunities are so ample

Read More