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Moody's economist Mark Zandi claims that the housing market was already in decline prior to the recession.


Mark Zandi, Moody's Analytics chief economist, joins "The Exchange" to discuss how rising rates will hit the real estate market. For access to live and exclusive video from CNBC subscribe to CNBC PRO: » Subscribe to CNBC TV: » Subscribe to CNBC: Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide. Connect with CNBC News Online Get the latest news: Follow CNBC on LinkedIn: Follow CNBC News on Facebook: Follow CNBC News on Twitter: Follow CNBC News on Instagram: #CNBC #CNBCTV ...(read more)


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The housing market has been a hot topic in recent years, with many experts predicting both steady growth and potential declines. However, according to Moody's economist Mark Zandi, the housing market was already dropping into recession before the COVID-19 pandemic hit. Zandi argues that despite record-low unemployment rates and consistent economic growth in the years leading up to 2020, the housing market was already showing signs of a downturn. He points to several indicators, including a shift towards renting instead of buying, slow home price growth, and decreasing demand in certain regions. One major factor contributing to the housing market's decline was the lack of affordable homes for sale. Zandi notes that while wages and job opportunities had improved for many Americans, the cost of homeownership remained high in many areas. This meant that many potential buyers were simply priced out of the market, leading to decreased sales and a slowdown in new construction. Furthermore, Zandi points out that the housing market was beginning to show signs of oversupply in certain regions. In areas where there was an influx of new construction, such as the Southwest and Southeast, the market was becoming saturated and there were fewer buyers willing to purchase new homes. While the COVID-19 pandemic has certainly exacerbated these issues, Zandi argues that the housing market was already on a downward trend in the years leading up to 2020. He warns that the pandemic has only accelerated these trends and could lead to even more significant declines in the future. Zandi's findings highlight the importance of keeping a close eye on the housing market and understanding the factors that contribute to its health. While many individuals and businesses were caught off guard by the pandemic's impact on the housing market, economists like Zandi offer valuable insights to help predict and prepare for future challenges. https://inflationprotection.org/moodys-economist-mark-zandi-claims-that-the-housing-market-was-already-in-decline-prior-to-the-recession/?feed_id=82566&_unique_id=6424682a80fcc #Inflation #Retirement #GoldIRA #Wealth #Investing #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet #RecessionNews #breakingnews #business #CNBC #economy #Finance #investing #kellyevans #money #news #newsroom #politics #Stocks #theexchange #WallStreet
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