Plain English with Derek Thompson

Why Everybody Is Wrong About a Recession and Housing’s Great Comeback

Feb 14, 2023

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.

36:15

Episode guests

Conor Sen

AI Chapters

Episode notes

Intro

5min

Signs of a Housing Market Comeback

2min

Mortgage Rate Effects on Housing Dynamics

14min

Impact of Housing Market Trends on Economic Growth and Recession

2min

Analyzing Homebuilder Sentiment and Its Economic Implications

3min

Navigating the Housing Market's Turnaround

7min

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.

Host: Derek Thompson

Guest: Conor Sen

Producer: Devon Manze

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