Why Everybody Is Wrong About a Recession and Housing’s Great Comeback
Feb 14, 2023
auto_awesome
Conor Sen, a Bloomberg writer and housing market expert, challenges the recession narrative and discusses the surprising resilience of the U.S. economy. He outlines how unemployment is at historic lows and consumer spending remains strong. The conversation dives into the housing market's turnaround, highlighting key indicators of recovery and the impact of fluctuating mortgage rates. Sen also explores how a rebound in housing could redefine economic growth forecasts, providing fresh insights into the evolving landscape of homebuilding.
Last fall, three-quarters of voters told CNN that the U.S. was in a recession. A Bloomberg economic model said that the odds of a recession by the fall of 2023 were 100 percent. But we’re not in a recession. The unemployment rate is lower than any month since the 1960s. Real disposable income is growing. The economy is expanding. Consumer spending is strong. Even housing seems to be rebounding. In today's episode, Derek explains the origins of the great American recession myth, and Bloomberg writer Conor Sen breaks down the housing turnaround that could define the 2023 economy.