Boston Condos for Sale and Apartments for Rent
Views on real estate and the economy
Housing market investors and executives speak with Yahoo Finance Live anchors over the rise in housing prices, mortgage rates and inflation over the past several weeks.
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Ford Realty’s Boston Condo Office
Boston Real Estate Search
The news these days seems to have a mix of highs and lows. We may hear that mortgage rates are at historic lows, but we’ve also seen some of the worst economic data in the history of our country. The challenge today is to understand exactly what’s going on and what it means relative to the road ahead for the Boston condo market. We’ve talked before about what experts expect in the second half of this year, and today that progress largely hinges upon the continued course of the virus.
A recent Wall Street Journal survey of economists noted, “A strong economic recovery depends on effective and sustained containment of Covid-19.” Given the uncertainty around the virus, we can also see what economists are forecasting for GDP in the third quarter of this year (see graph below):
Overwhelmingly, economists are projecting GDP growth in the third quarter of 2020, with 5 of the 9 experts indicating over 20% growth.
Lisa Shalett, Chief Investment Officer for Morgan Stanley puts it this way:
“Indeed, the ‘worst ever’ GDP reading could be followed by the ‘best ever’ growth in the third quarter.”
As we look forward, we can expect consumer spending to improve as well. According to Opportunity Insights, as of August 1, consumer spending was down just 7.8% as compared to January 1 of this year.
Boston Real Estate and the Bottom Line
Economic recovery is beginning to happen throughout the country. While there are still questions that need to be answered about the road ahead, we can expect to see improvement this quarter.
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Ford Realty – Boston Real Estate Google Reviews 2019 & 2020
Click here: Beacon Hill Apartment rental stats for the last 30 days
