there are so much predictions around saying that the cooling off of the housing market will inevitably bring in a recession. I thought the U.S is big enough of a country and has an economy diverse enough to not crumble just because the real esate agents are not making a killing any more.
ANDRES
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I think media hype adds to the notion that the housing market determines the rest of the economy. Sure, it has an impact, but people are more likely to stop buying when the media convinces them it’s a bad idea.
Such a simple, yet complicated question. The housing market was the fuel that kept our economy going for the last few years. As house prices rose in the last few years, so people have taken out loans against their houses to buy “stuff”. Consumer products is the bulk of our economy and that’s where the housing market impacts our economy. Most Real Estate agents weren’t making a killing either, they were cutting their commissions to compete with low rate internet brokers.
U.S. economy is healthy that should housing market continues to slump, the fundamentals of the economy will function as usual. Recession may come, but not severe. only my opinion though…
