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Best Housing Market in a Decade Could Succumb to Coronavirus

  • Low rates not enough to lift housing as odds of recession grow
  • High-priced western U.S. markets face highest contagion risk
Bloomberg business news
5 Early Warning Signs For U.S. Economy

The U.S. housing market, which was headed for a hot spring-selling season, may not be so healthy after all.

As the expanding coronavirus outbreak slows economic activity, roiling markets around the world, there’s a 60% chance of the U.S. economy going into a recession this year, said Mark Zandi, chief economist at Moody’s Analytics Inc. That economic disruption would batter the housing market, despite record-low mortgage rates.