With the likelihood of a recession looming, a Harvard researcher believes the housing industry may be poised to help lead the post-COVID economic recovery, according to article shared by Northwest MLS. Daniel McCue, a senior research associate at Harvard’s Joint Center for Real Estate Research, acknowledged it’s too soon to say how far the economy will fall and when the slide will end.
McCue credits a decline in interest rates that lowers borrowing costs for both homebuyers and builders, which makes homebuying more attractive and spurs homebuilding and the many related durable consumer goods industries that drive GDP growth.