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As of November 2022, according to Fannie Mae news, we are headed into a short-lived, modest recession with the housing market leading the charge.
“The economy continues to slide toward a modest recession, which we anticipate will begin in the new year, with housing leading the slowdown,” said Doug Duncan, Senior Vice President and Chief Economist, Fannie Mae. “Higher interest rates have ignited the typical reduction in residential fixed investment, which historically has led into either an economic slowdown or recession. From our perspective, the good news is that demographics remain favorable for housing, so the sector appears well-positioned to help lead the economy out of what we expect will be a brief recession.”
Let’s be prudent. And, be smart to stay on top of the news, but in moderation. Keep you focus by staying in your own lane.
Just as we must take smart action to protect our financial portfolios, earnings, and savings, even more importantly, we must protect our mindset. Download your guide by clicking the button below.
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