Plain English with Derek Thompson

The Housing Recession Is Coming

Sep 15, 2022

Mark Zandi, Chief Economist at Moody’s Analytics, shares expert insights on the struggling U.S. housing market amid rising interest rates. He discusses the imminent correction and its potential impact on the broader economy. Zandi highlights critical trends in over 200 housing markets at risk of price declines and compares current conditions to the 2008 crash. Additionally, he explores the synchronized global housing market decline and how China's economic turmoil reverberates through the U.S., revealing interconnected risks and opportunities.

40:37

Episode guests

Mark Zandi

AI Chapters

Episode notes

Intro

4min

Understanding Core Inflation Dynamics

10min

Housing Market Trends and Risks

11min

Global Housing Market Decline: Causes and Consequences

2min

China's Economic Turmoil and Global Implications

4min

Reassessing Recession Indicators

4min

While the broader economy is almost certainly not in a recession, the U.S. housing market is facing a painful reset. As the Federal Reserve raises interest rates to reduce inflation, the most rate-sensitive sector of the economy—which is housing—is taking it on the chin. Today's guest, Mark Zandi, the chief economist of Moody’s Analytics, breaks down the queasy state of the U.S. housing market, the prospect of a correction, what nationwide falling housing prices will mean for the broader economy, the global synchronized decline in housing, and how China's extremely bizarre year is affecting our economy.

If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. You can find us on TikTok at www.tiktok.com/@plainenglish_

Host: Derek Thompson

Guest: Mark Zandi

Producer: Devon Manze

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