A 2024 recession looks a lot more likely than it did just a few months ago. While many Americans were hoping for a “soft landing,” that might not be what we get as the economy hits a breaking point. With the government only temporarily saved from a shutdown, auto workers going on strike for cost of living adjustments, student loans resuming, and oil prices skyrocketing as production slows down, we may be forced to enter into a recession.
On the flipside, GDP remains strong, Americans are still spending, and unemployment is historically low. While this could quickly change, it begs the question: is the American consumer stronger than high interest rates, rising prices, and the threat of an unknown future economy? We brought on the full On the Market panel to give us their take on where we’re heading and which economic threats could bring down the economy.
We’ll get into the nitty-gritty of the recent UAW strike that is putting a bottleneck on transportation, the government shutdown that risks millions going unpaid, student loan resumption that could force Americans to forgo optional spending, and an exacerbated oil price increase that is hurting the everyday American (and especially Californians).
In This Episode We Cover:
Four economic factors that could force us into a 2024 recession
NAR’s recent scandal and why Redfin has decided to finally cut ties
Student loan payment resumption and a massive cut in Americans' discretionary spending
The UAW strike that could hurt traditional car manufacturers even more
A looming government shutdown and the direct effects it has on the markets
Increased oil prices and why your deliveries, construction projects, and renovations could cost even more
And So Much More!
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Is College Worth the Cost? w/Preston Cooper
Why the Fed is Steering Us Straight Towards the Next Great Recession
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-146
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