How long can this economic recovery last? Earlier this year, there was lots of talk about a recession or at least an economic slow down coming by the end of the year. Here we are in mid December 2019 – and the stock market is booming and unemployment rates are at record lows. The economy is currently experiencing the longest recovery in our nation’s history.
Wall Street Journal Survey of Economists
The Wall Street Journal (WSJ) Survey of Economists is periodically asked the question of how long can this economic recovery last. The survey has called for an economic slowdown (recession) in the near future, but the most recent survey now shows the economists are pushing that timetable back. When asked when they expect a recession to start, 42.5% of the economists in the previous survey projected between now and the end of 2020. The most recent survey showed that percentage drop to 34.2%. Here are the most current results:
Like the economists surveyed by the WSJ, most experts are still predicting a recession will likely occur sometime in the next few years. However, many are pushing back the date for the economic slowdown. The fact that most economic experts are calling for the recovery to continue through 2020 means the housing market will also remain strong for the foreseeable future. Even if the economy slows down, it doesn’t necessarily follow that the housing market will be affected. While real estate is impacted by the economy (and the consumer’s belief in the strength of the economy), in three of the last five economic downturns, the housing market continued to thrive. It was only in the last economic downturn that the housing market took a hit since the economic downturn had its roots partially in mismanagment of the mortgage industry. .