5 Simple Graphs - Recession in the Forecast for Sedona? Why Not
Are we headed into a new recession? Here's 5 simple graphs for a 2020 comparison with 2008.
Looking to the Future: What the Experts Are Saying
As our lives, businesses, and the global economy change day by day, we are quite often left contemplating how long this pandemic can last. How long will effects virus be felt? The toll may change families forever, but the impact to the econcomy can rebound with a cycle of recession followed by economic growth like we’ve never viewed in the American economy before.
Leading experts and current research indicate the economic impact we will most likely see because of the coronavirus. It starts with U.S. Gross Domestic Product (GDP).
Investopedia has this to say:
“Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period. As a broad measure of overall domestic production, it functions as a comprehensive scorecard of the country’s economic health.”
A survey of 3 major financial institutions reveals a sharp drop in GDP followed by a steep climb in the second 1/2 of 2020: A study from John Burns Consulting points out that past pandemics have also resulted in this V-Shaped Economic Recovery like the one above, and it had little effect on real estate prices, including Sedona real estate. This should allow hope and optimism for the future as the COVID19 pandemic concludes.
This potential future in 2020 has many business owners optimistic for a strong economic recovery. Recently a PricewaterhouseCoopers survey revealed;ed this confidence, noting that over half of the surveyed business owners (67%) feel they can return to normal business within 30 days of the pandemics conclusion. 90 percent forecast returning to normal ops within 1 to 3 months.
From expert financial institutions to business leaders to financial experts, across America, we can anticipate a quick return to 'business as usual' after the pandemic retreats. The downturn will not continue indefinitely and we can then start growing the economy again.
Real estate has always been a large economic engine, if not the largest. Real estate has always been a safe bet when the economy and the stock market go wacky. Try investing in the Sedona properties market or even the market.
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