Looking for a little clarity on this week’s economic and housing news? Windermere Chief Economist Matthew Gardner gives his take on this week’s headlines.
BY MATTHEW GARDNER
There’s an overwhelming amount of data and headlines circulating. This is my attempt to make sense of it all for you, the real estate professional, from an overall economic standpoint.
There was a lot of discussion surrounding unemployment and the economy this week. I believe the economy will rebound nicely — once the coronavirus has been defeated. How long will that take? The truth is: No one really knows at this point.
Economists are all over the place on what the ramifications will look like, but we all pretty much agree that the first quarter’s economic activity will come in at about zero. Beyond that, there is much debate about the level of contraction and growth.
The one thing we agree on, assuming the virus is behind us, is that the fourth quarter is looking very positive.
The economy was not that vulnerable when the coronavirus hit, which can allow for a fairly rapid rebound once this situation is behind us, but it will take monetary and fiscal stimulation to get us back on solid footing.
Look for more on that in the coming weeks. Getting a good bill on President Trump’s desk will be imperative.
Matthew Gardner is the chief economist for Windermere Real Estate, the second largest regional real estate company in the nation.
Sotheby's International Realty ® is a registered trademark licensed to Sotheby's International Realty Affiliates, Inc. This Web site is not the official Web site of Sotheby's International Realty, Inc. Sotheby's International Realty, Inc. does not make any warranty regarding any information, including without limitation its accuracy or completeness, contained on this site. Equal Housing Opportunity. Visit Sotheby's International Realty
Design By SantaFeWebDesign.com