If you follow the news, you’ve probably seen more than a few “recession” headlines this week… with the Fed raising rates to battle inflation, it’s easy to understand why.
But what you may not realize is that according to analysts, one corner of the market is already there… a “quiet” recession that’s almost guaranteed to affect every single one of us.
According to Robert Dietz, chief economist at the National Association of Home Builders:
“We’re in a housing recession right now. After a year and a half of post-Covid housing strength, this isn’t just a retrenchment to a more normalized trend — this is definitely a weakening.”
If you’ve looked to rent or buy in the last few months, you’ve probably seen it firsthand…
The housing market is still expensive, with average prices up 18% from last year… Mortgage rates have doubled… and renting isn’t much better.
Average rents have risen 22.6% year over year… And when you add in the Fed jacking up interest rates, it feels like we’re moments away from an all-out housing crisis with no relief in sight.
If you follow us here at the Daily, you know it’s all part of the New Order of Money editor Teeka Tiwari warned us about in July… And if we’re going to survive this crisis, we need to invest in assets that’ll outpace inflation and Fed money-printing.
So this week, Teeka and the PBRG team shared the best strategies for keeping your lifestyle afloat, protecting your wealth, and positioning yourself to come out better on the other side…
Because the old ways of investing and saving just won’t cut it anymore.
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Regards,
Chaka Ferguson
Editorial Director, Palm Beach Daily