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Zillow’s Take on the 2025 Housing Market

20 snips
Jan 29, 2025
Dr. Orphe Divounguy, a senior economist at Zillow and founder of the Quantitative Research Group, dives into key insights about the housing market in 2025. He discusses how homeowner wealth has influenced economic resilience and minimized recession risks. Orphe also highlights labor market challenges and the ongoing effects of a K-shaped recovery. The conversation covers wage growth, housing affordability, and trends in multifamily housing construction, shedding light on the relationship between economic indicators and residential mobility.
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INSIGHT

Recession Averted

  • Despite predictions, a recession was avoided in 2023 due to several factors.
  • These included strong labor market, savings buffers, and low mortgage rates, leading to increased household wealth.
INSIGHT

K-Shaped Recovery

  • A K-shaped recovery occurred, benefiting some while others were left behind.
  • Lower-income renter households did not experience the same wealth increase as homeowners.
INSIGHT

Labor Market Concerns

  • The labor market is showing signs of freezing, with low hiring rates and job openings.
  • Corporate bankruptcies are at a 14-year high, potentially impacting future employment.
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