HousingWire Daily Logan Mohtashami on recession signals and what they mean for housing
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May 20, 2024 
Lead Analyst Logan Mohtashami discusses recession signals impacting housing and mortgage rates. Topics include rent inflation, historical home prices during recessions, mortgage rates' influence on housing demand, analyzing rate changes on housing, affordability challenges for millennials, predicting recession impact on housing industry, and future trends in real estate based on labor market conditions.
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Recession Impact on Home Prices
- Most recessions do not lead to home price crashes except for the 2008 credit bust.
- Housing supply and demand dynamics during recessions often keep home prices stable or rising.
Housing Trends in Tech Recession
- During the tech recession, housing demand increased and inventory fell.
- Foreclosure surges did not happen then, indicating renter profiles were more affected.
Millennials Drive Housing Demand
- Millennials, especially ages 30-39, are a large demographic driving housing demand.
- Despite high prices and rates, this group sustains a roughly 4 million annual home sales level.