Is The Housing Market In A Recession?

The housing market is showing some signs of a recession, according to experts who spoke to the Wall Street Journal in August and real estate agents who cited a slow environment for sales when speaking to The New York Times in July. However, existing home sales rose 1.5% in September after stalling earlier this year, according to data from the National Association of Realtors, with sales growing in every region except the Midwest. The group’s chief economist credited this rise in sales to lower mortgage rates, echoing Bessent’s remarks Sunday. However, Oxford economists who spoke to Reuters said they expected sales to move “sideways” until the economy and labor market also improve. Consumer confidence about the economy and the availability of jobs remains low, according to recent polling.

Key Background

The Federal Reserve cut interest rates by a quarter of a percentage point last Wednesday, the second time in two months. Since taking office in January, President Donald Trump has called for more aggressive rate cuts, and criticized the Fed’s Chair Jerome Powell for interest rates remaining stable for the first nine months of the year. Miran, who Trump appointed to the Board of Governors in August, was one of only two dissenting voices at the Fed’s meeting Wednesday, and instead called for a much larger half percentage point reduction. Despite the pressure from Trump and Miran, Powell said another rate cut was “not a foregone conclusion” at the Fed’s last meeting of the year, in December. The other dissenting vote Wednesday came from Kansas City Fed president and CEO Jeffrey Schmid, who argued against cutting rates at all.

i wish i was dead

>>1454358
This is George Soros's right hand man who Trump hand picked for his administration, right?

>>1454378
Scott "Hotpants" Bessent.
Scotty liar liar, pants a fire.

>>1454358
>blaming the Federal Reserve for not cutting interest rates fast
lol yeah it's that and totally not the tariffs. hilarious.

>>1454447
>Article mentions housing
>MUHR TARDIFFS!!!
You should feel retarded. You are retarded.

>>1454541
Housing is literally mentioned once as a single thing Bessent tried to deflect to.

>>1454541
Where do you think the raw materials to build housing come from?

A certain Christian president's legacy will be affordable housing built with his own hands until he was too old to do so. And winning the Nobel Peace Prize.
...sit down, Trump.

>>1454564
Why should they come from abroad?

>>1454604
Because Americans don't make things anymore.

>>1454604
Because some things are easier, cheaper and/or better to acquire abroad then in your home country. Seriously if a country doesn't take advantage of the fact that they can get some of their important resources cheaper elsewhere their just hurting their economy. Its the major advantage of having a global economy you can get stuff at the best price possible instead of having to depend on just what supplies your country has which may not be enough to meet demand at a reasonable price.

Poor peoples economy is crashing, rich peoples economy is reporting record profits. Just go to work, TEMPORARY pain, folks. Ha ha. I'm gonna count my money again. lmao

>>1454604
Because unless you're gonna pay me $50/hr and expect me to only do the bare minimum, I'm not gonna work in a lumber yard

>>1454643
So fucking stupid. You think rich people work hard? You think rich people work at all? The majority of rich peoples income is generated by passive means. They don’t work.

So many people in this country work 50, 60, 70 hours a week and are still struggling paycheck to paycheck.

Your fucking privilege is on full display with your ignorant fucking comment. Keep licking those oligarch boots and maybe they will throw you some scraps, you dumb bitch.

Que this fucking Chud arguing that the rich “create” jobs