Too many important key metrics are signaling positively for the US economy and "we're not even close" to being in a recession right now," Mark Zandi, chief economist, Moody's, shared during National Multifamily Housing Council's 2022 Fall Meeting in Washington, D.C., last week.
"When you look at the high job creation numbers, record lows in job layoffs, the elevated number of unfilled positions, the high 'quit rate' by workers because they are looking and finding other higher-paying jobs and consider that recent GDP figures are likely to be revised higher, it's hard to think we're in a recession."
He added that the average homeowner is holding about $185,000 in equity, compared to a more typical recent figure of $140,000 and that banks and state and local governments are flush with cash.
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