“I think we are fast approaching a recession,” said CoreLogic economist Selma Hepp. “Anecdotally, what I’m hearing in the industry is that there are a lot of job losses, and they’re happening on a daily basis.”he believes the nation is in a recession.
“Inflation is here for a while, so the stock market is not liking it, the bond market is not liking the inflation number and the Federal Reserve will continue to be aggressive,” Yun said. “I’m just hoping that the 7% mortgage rate holds at this level. Today’s inflation data is going to test that 7%, but we’ll see where we go.”
Selma Hepp, an economist with CoreLogic, said to expect continued month-over-month home price declines, especially in markets in states including Arizona, Idaho, Utah and Nevada that saw the fastest price growth during the pandemic. Withof about 7%, that takes out a lot of incentive for them to list their homes.
The only 'experts' denying a recession are democratic cheerleaders.