Miriam Odegard, Real Estate Broker Serving Greater Indianapolis (United Real Estate Indianapolis )

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Rainmaker
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Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

I DO believe we are headed for a nation wide recession Miriam Odegard BUT I am unsure as to how it will affect the housing market. That being said it may crush some landlords as they may not be able to evict tenants who can not afford to move.

Jun 07, 2022 07:05 AM
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Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

This reminds me of the talking heads before a big sporting event. They spend a week saying what they think will happen. Then the event takes place. Then they spend more time talking about what happened, which usually isn't anywhere near what they said was going to happen.

Yesterday, Dr. Paula McDonald wrote a wonderful article about Preparing For Impact.  Regardless of where we are in life or business, we must always be prepared and adapt as necessary.

Jun 07, 2022 06:20 AM
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Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

I believe we are headed for the full-on destruction of America as we have known it and lived it for as long as I have been alive.

I agree with Tammy Lankford, we are where we are because the so-called leaders have their own agenda.  I am hopeful we can turn things around before it is too late. 

Jun 07, 2022 11:37 AM
Rainmaker
963,693
Peter Mohylsky. BRIX REALTY
Brix Realty - Destin - Miramar Beach, FL
BRIX REALTY -DESTIN

I stopped reading the headlines.  But I don’t think there will be melt down. What do you think

Jun 07, 2022 06:00 AM
Rainmaker
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John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Darn! I asked the Magic 8 Ball to predict the coming economic status and it tweeted out something about Elon Musk.

Beyond my ken.

Jun 07, 2022 09:06 AM
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Alan May
Jameson Sotheby's International Realty - Evanston, IL
A moving experience!

Chicken Little has been telegraphing the falling of the sky on a fairly regular basis.

Real Estate, along with almost every other enterprise, is cyclical, and as such will have cycles of up, and cycles of down.  Since we are in the midst of a serious upcycle, it stands to reason that at some point we will be experiencing a downcycle.

When we had our last market 'crash', they had been screaming "the sky is falling, the sky is falling" for about half a dozen years.  It will surely happen, but ain't nobody got a functioning ball of crystal.

Jun 07, 2022 08:38 AM
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Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

I really dont know what will happen, however I am confident that I will prosper either way.

Jun 07, 2022 07:15 AM
Rainer
149,546
Karen Climer
Demetree School of Real Estate - Orlando, FL
Teaching people to pass the real estate exam

We are headed toward a recession - that's not disputed.  If the economy is going down at all, we are headed toward a recession.  That doesn't mean we will have a recession.  Just like I can be headed toward the ocean, but that just means my car is headed either east or west (in Florida).  It doesn't mean I'm going to drive into the ocean.

It is the job of the newspaper to sell newspapers or get people to click on articles that sell ads.  If predicting the future in a hyperbolic way is what helps them accomplish that, that's what they will do.  This is not a criticism of the newspaper or any media outlet.  It is just pointing out that they have financial incentives for saying what they say. 

Real estate agents also have financial incentives for saying what we say, so this is not unique to the newspaper.

 

Jun 07, 2022 06:02 AM
Rainmaker
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Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

I've been saying this for a couple years now . . . unrestrained growth is unsustainable . . . it's been a very unusual circumstance but we're probably in our last year of residential boom. Local lenders are already telling me the phones are quieting down . . . our area is resort/vacation so it does not compare to other areas but this is our 'hot season' so those lender phones should still be ringing till after Fourth of July!

Real estate agents LOVE to wax Pollyanna-ish about the market being eternally great. 

My favorite nonsense was the president of a large R Association down south, at a leadership conference raising his arms to the sky like Moses and declaring 'THERE IS NO BUBBLE" in Fall of 2005. I laughed out loud! Markets are ALWAYS cyclical. 

This market will correct too. 

Jun 07, 2022 07:26 AM
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

I think the elected leaders in this country, and those in their employee past and present don't give a rats behind about anyone but themselves.  They did nothing to prevent a recession before it was too late.  But I've seen this coming and I'm fairly well prepared.

Jun 07, 2022 11:31 AM
Rainmaker
824,745
Peter den Boer
Atlanta Communities - Woodstock, GA
MBA,GRI, Associate Broker, Realtor

Media blather...

Jun 07, 2022 06:37 AM
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844,502
Olga Simoncelli
Veritas Prime, LLC dba Veritas Prime Real Estate - New Fairfield, CT
CONSULTANT, Real Estate Services & Risk Management

Yes, but not so soon and real estate is notoriously cyclical.

Jun 07, 2022 06:30 AM
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808,867
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
Carolina Life RealEstate & Relocation 919-602-8489

Only time will tell. There are many variations of what will happen. Some people will be right and some won't. I'm preparing just in case.

Jun 07, 2022 05:55 AM
Rainmaker
1,425,400
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

The headlines are usually behind the curve.  We're already IN a recession, if not a depression.  We've got poor job numbers and record high inflation... maybe even stagflation.

Jun 07, 2022 08:45 AM
Rainmaker
419,553
Shayne Stone
HomeSmart - Fulshear, TX
"Your Rock Solid Choice Realtor"

Could be if inflation conditions and then most people will no longer be able to purchase. But supply and demand is going strong at this time. 

 

But like the Stock Market, we are due for a Market Correction! LOL

 

Jun 07, 2022 08:29 AM
Rainmaker
1,363,189
Gary Frimann, CRS, GRI, SRES
Eagle Ridge Realty / Signature Homes & Estates - Gilroy, CA
REALTOR and Broker

I don't think it will be a meltdown.  A slowdown perhaps.  The last meltdown occurred because of 100% financing on Owner occupied homes that weren't owner occupied and stated income which was never verified.  Too many people just walked away.  Nowadays, one must actually have money to buy a home...

Jun 07, 2022 07:36 PM
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Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

I don't believe much of what the talking heads are touting. YET, we ARE in a recession and housing will go through a cyclical change

Jun 07, 2022 02:09 PM
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Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Sensationalism by the talking heads. 

Jun 07, 2022 06:57 AM
Rainmaker
1,759,839
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Richie's got a great answer. No inventory to sell, just like car companies, just like grocery stores.

Is that a recession?

Jun 07, 2022 06:48 AM
Rainmaker
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Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Sales are up from last year and the year before that and are expected to continue next year too. Why? Inventory! Lack of product. High interest rates won't stop the stampede either. Why? People will refi when they can. Current owners/sellers have monster equity gains harassing them. Dreams stirring

Jun 07, 2022 06:15 AM
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302,367
Don Baker
Lane Realty - Eatonton, GA
Lake Sinclair Specialist

It's NOT a headline, it's the numbers that say we're recession bound.

Jun 07, 2022 02:06 PM
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Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

Times are bad, and getting worse.

 

  So what?   Pull up your pants, take a chance, step out into the world.  YOU CAN WIN!

Jun 07, 2022 10:54 AM
Rainmaker
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Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

If I lose my real estate business, it a MELTDOWN.
if you lose your real estate business it a market adjustment.
Recession, inflation, or Bank of America robbery, the real estate market continues.
I am seeing inflation and rising interest rates actually creating a TEMPORARY spike in activity.

Jun 07, 2022 08:45 AM
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Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

We might, but housing market in Los Angeles hoods is steaming hot. Working with buyers is extremely challenging in this time of bidding wars. 

Jun 07, 2022 03:13 PM
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John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

The headlines are right about the first part (I've been discussing this for months now), but they're wrong about the second.  Supply and demand is economics 101, and we're still very short on supply with no end to that in sight.  AT LEAST in most markets.  Some markets went up way too much, way too fast, and while I don't see a "meltdown" I do see values dropping in those places as they struggle to deal with infrastructure and quality of life issues amongst new residents.

Jun 07, 2022 09:40 AM
Rainmaker
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Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Don't believe what you read! Just think of how accurate the news has been over the last few years. Terrible track record unless you rate the news on their self-professed rumors. Then they are off the charts. Remember, whether the market is up or down, get your share and move on!

Jun 08, 2022 04:43 AM
Rainmaker
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Andrew Mooers | 207.532.6573
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

Adjust your "sales" for whatever is happening in your LOCAL real estate market. Stay positive. There is always a market and people gotta buy, wanna sell. What are you telling your LOCAL audience Miriam Odegard

Jun 08, 2022 03:31 AM
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Wanda Kubat-Nerdin - Wanda Can!
Red Rock Real Estate Brokered by Real - St. George, UT
So Utah Residential, Referral & Relocation REALTOR

Depends on what unreliable media outlet you happen to be listening to or reading. And cue the circus music please...🙈🙉🙊!

Jun 07, 2022 07:15 PM
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Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

I am seeing our inventory go up, DOM have gone up and buyers are sitting on the fence and not wanting to bid over list as it's been for several years now. The talk I hear from just about everyone is gas prices, inflation, etc etc. Many folks are not happy with the direction the country is going in.  As for a recession we might be in one now but not know it till later. We'll see.  I doubt there will be a 'melt down' as many folks I know off have a LOT of equity in their homes unlike the crash of 2008.

Jun 07, 2022 04:11 PM
Rainmaker
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Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

As my buddy Jason E. Gordon and I discussed just last night, recessions are great for rates and supply & demand is currently great for us. There is a recession, but there was one in 2020 too and you'd never know it in real estate. No meltdown, just a correction. The rates drop every recession:

Jun 07, 2022 03:27 PM
Rainmaker
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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Do not think that will happen but you never know.  Great question.

 

Jun 07, 2022 12:27 PM
Rainmaker
6,969,743
Roy Kelley
Retired - Gaithersburg, MD

The headlines I have read say the home values should increase by 6% during the coming year. That is definitely not a meltdown.

Jun 07, 2022 10:54 AM
Rainmaker
786,668
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

Headlines are click bait.  Real estate is local & I'm focusing on the data as well as reminding folks that such articles are not typically designed for positive reactions.  If we stay true to our roles of educating and guiding, all will be just fine. 

Jun 08, 2022 06:42 AM
Rainmaker
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Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

I do believe we are already in it Miriam and it'll be around for several years. I have had to readjust my sights many times in this business and when we come out on the other side we dive straight back into it with vigor. Watch for the term Housing Shortage in future headlines as this too shall pass.

Jun 08, 2022 09:26 PM
Rainmaker
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Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Look at history... housing markets have not melted down because there was a recession.

Jun 08, 2022 01:44 PM
Rainmaker
885,266
Bruce Walter
Keller Williams Realty Lafayette/West Lafayette, Indiana - West Lafayette, IN

Hi Miriam,

I don't see The Fed aggressively attacking inflation like the way Paul Volker did in 1979 upon becoming head of The Fed.  Inflation was over 13% and the Fed Funds rate had creeped up to 12% with no impact on curbing inflation.  Volker raised the Fed Funds rate to an astonishing 18% punishing banks for over lending and sold government securities through Open Market Operations taking cash out of bank reserves, investors, institutions, and households which dried up the money supply in circulation.  This led quickly to a recession right after Reagan took office.  I just don't see the Fed doing that, nor do they have the stomach for it.

I do see certain industries targeted by the current administration by increasing government regulations and lawsuits.  This has led to a decreased supply and thus higher prices.  I don't see this changing in the near term. 

I do see consumer confidence going down and consumer spending in our area going down as fuel and food are sucking up a much greater part of the family budget.  We have thousands who live in small bedroom communities who drive 40-70 miles round trip every day to our major employers:  Purdue University, Subaru-Toyota, Caterpillar, Wabash National, etc.  It is brutal for them to fill up the gas tank as gas is now at a record high in Lafayette at $5.19 per gallon for regular unleaded.  So I am concerned about how this will impact potential buyers with the high coast of fuel and food which in  the short term appear to be heading higher.  It does seem that buyer activity has cooled down in our area.

I don't see a housing market meltdown at all in our area at all as inventory is still tight.  Employers still need workers but with the artificially induced wage hikes trying to compete with the COVID handouts to stay home minimum wage has effectively gone from $7 per hour to $12-$15 per hour thus imposing huge costs on employers to operate their businesses, and many have had to raise prices to stay in business adding to inflation.

 

I don't see the Fed stopping inflation by selling bonds and sucking money out of the economy as they have continually bought bonds, thus increasing the money supply, nor the US Congress cutting spending to reduce inflationary pressures and that is why I don't see a major recession or housing market meltdown. 

I think the economic slowdown is happening with some industries due to increased government regulations and consumers now worried about the economic future and they holding on to their hard earned money.  These factors, in my opinion, will slow down the economy to the point of a possible recession (two back to back quarters of negative economic growth) not from the actions of the Fed getting Volkeresque, or the Congress cutting spending in a Draconian manner.   

Jun 08, 2022 01:11 PM
Rainmaker
688,269
Tony Lewis
Summit Real Estate Group - Valencia, CA
Summit Real Estate Group Valencia & Aliso Viejo

This is another one of the prediction I've been making and most everyone on this sight slams me down and has a great laugh at my expense.

Jun 16, 2022 10:45 PM
Rainmaker
572,287
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

we are in a recession already but that does not equate to a housing "meltdown"

Jun 14, 2022 03:40 PM