The Security Industry and Financial Markets Association (SIFMA), a trade group that represents Wall Street securities firms, banks and asset management companies, indicated that its 2020 forecast of a possible recession is down 10 basis points to a 25% likelihood due to its GDP growth forecast of 1.8% in 2020. This forecast is down from the final GDP likely median in 2019 of 2.2%.

“Despite the markdown in overall GDP growth, the economy is still expected to expand at a moderate pace,” said Ellen Zentner, the managing director and chief US economist with Morgan Stanley and chair of SIFMA’s Economic Advisory Roundtable.

New Free Webinar Shows You The 12 Secrets Of Real Millionaire Agents. Stop Struggling. You Can FINALLY Laugh At Your Money Worries – If You Follow This Simple Plan. Learn How To Generate 100’s of Motivated Leads Without Coming Off As A Pushy Salesperson and Losing Your Soul. Learn Now How To Become One of the 1000s of Agents Making HUGE Money Who Never Thought They Could.

YES, I Want To Attend The FREE Webinar! <——Click To Register

P.S. Free Webinar, Limited Space. Less Than 300 Spots Still Available.

Workers are expected to experience a +3.2% increase in average hourly earnings in 2020. This +3.2% increase comes on the heels of 2019’s earning increases of +3.1%.

Inflation is expected to remain quiet with a gain of +2.2% according to SIFMA.

The National Association of REALTORS® (NAR) forecasts the likelihood of a 2020 recession at 29%. Included in NAR’s forecast for the 2020 economy at its December Economic Real Estate Summit are the following projections:

  • GDP growth – +2.0% in 2020; +1.9% in 2021, according to the Bureau of Economic Advisors
  • Unemployment rate – 3.7% in 2020; 3.9% in 2021, according to the Bureau of Labor Statistics
  • Home price change – +3.6% in 2020; +3.5% in 2021, according to Freddie Mac and the US Census Bureau
  • Housing starts – 1.31M in 2020; 1.37M in 2021, according to the US Census Bureau
  • Apartment rent change – +3.8% in 2020; +5.1%, according to the Bureau of Labor Statistics

Thanks to HousingWire’s Kathleen Howley, National Association of REALTORS®, Fannie Mae, Freddie Mac, US Census Bureau, Bureau of Labor Statistics and Bureau of Economic Advisors for source data

Also read: Multi-Family Originations to Hit All-Time High in 2020, Where Are Homeowners Refinancing the Most & Least?(, Prelude to 2020 – Home Prices Up As Well As New Home Sales in November

Claim Your FREE Real Estate Treasure Map!