Oct 11, 2019
3:40:27pm
Bovine University All-American
There's plenty of people willing to opine on this subject and plenty or room for
Everyone's opinion. There is no oracle that can tell what will happen for certain. I am just stating that if the only data points being used to project local recession are wages vs housing prices then those projections are not taking enough data into consideration.
Other factors, like those that I mentioned also have impact and anyone disregarding those sorts of data points are doing themselves a disservice (perhaps engaging in confirmation bias?)
If one is to look at housing and wage indexes for Utah, it is not out of line with other comparable markets and is even priced very modestly compared to some (also priced higher than some others).
The range, however, is currently well within the the expected curve.
I suspect that many of the people who are projecting imminent recession or are basing their information off of anecdotal evidence because the I'm not aware of any hard data points that are signs of clear and present danger.

I do want to reemphasize that I do not KNOW nor do I claim to know what the local housing market with do. My real estate mogul buddy also does not know. Your friend does not know. Nobody can possibly know.
What I can speak to are economic indicators, which generally look good.
With that said, I'm not an economist by trade, so there are people far more qualified than I to find and interpret all those indicators. Even those guys get it wrong often enough.
This message has been modified
Originally posted on Oct 11, 2019 at 3:40:27pm
Message modified by Bovine University on Oct 11, 2019 at 3:49:49pm
Bovine University
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