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The Famous R Word Is On The Horizon. Recession Fears Pick Up As GDP Posts 0.9% Decline.

I know what you all are thinking, wow Carson, you would make an incredible bear on Wall Street. Funny enough, I am quite the opposite, but I got you to click on the article didn't I!

The Q2 GDP report came out Thursday morning, and it came in a good chunk lower than expected. GDP for the second quarter posted a decline of 0.9%. The rule of thumb for those who are unaware, two quarters of negative growth is considered a strong indication of a recession. I won't bore you with terminology but to officially be in a recession, the National Bureau of Economic Research has to confirm we are in a recession. Sounds fine and dandy, expect they take an average of 4-21 months to determine that. Needless to say, that does not help us much in preparing. 

However, unlike many recessions *which I will most likely be ridiculed for mentioning* recent job reports show we have 1.9 job openings for every unemployed person, aka a very strong labor market for the worker. Consumer spending is staying incredibly high, treasury rates/mortgage rates are coming down, and real estate at the moment seems to be staying relatively resilient.

What comes next? No one truly knows. 


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Carson Hulak                             

Hulak Realty Group

Virtual Properties Realty



Thank you for your valuable time today


As always, I really look forward to working with you now or down the road..



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