HousingWire Daily Will the U.S. face another recession?
In today’s Daily Download episode, HousingWire covers a survey that indicates the nation’s economists now believe America is likely to experience a double-dip recession.
For some background on the story, here’s a summary of the article:
Almost 80% of economists say there’s at least a one-in-four chance of a double-dip recession, following a record 32.9% plunge in GDP in the second quarter, according to a survey released on Monday from the National Association for Business Economics.
About 40% of respondents rate the COVID-19 response from Congress as “insufficient” and 37% said it’s “adequate,” according to the survey that summarized the opinions of 235 members and was conducted between late July and early August.
“The panel is split in its view on Congress’s fiscal response to the recession,” said NABE President Constance Hunter, who is KPMG’s chief economist. “Nearly three out of four panelists believe the optimal size for the next fiscal package to be $1 trillion or greater, compared to 17% who favor a smaller package.”
Following the main story, HousingWire covers the Mortgage Bankers Association’s Weekly Forbearance and Call Volume Survey that shows the rate has fallen once again, and a letter addressed to Congress from a broad coalition of housing organizations that encourages protections for renters and property owners.
The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.
HousingWire articles covered in this episode: