Real estate prices have pulled back roughly 6% from their highs set a few months ago. The real estate futures market on the CME website is a great tool to forecast the path of real estate prices. They are now forecasting a bottom to this decline in the real estate market in the United States to end somewhere between November of 2023 and February of 2024. That suggests that a recessionary trough in the economy is set to take place in that time frame too. The stock market typically ends a bear market 3-6 months before the bottom of a recession.
Every morning I put out a few market news digest with my ideas.
To get it for free click here.
-Mike
