The Recession That’s Around the Corner

In this photo illustration miniature houses from a Monopoly board game can be seen next to American dollar notes. Christopher Furlong/Getty Images

Commentary 

Over the past two or so years, our economy has been far from “normal.” The pandemic wreaked havoc on a bustling economy seemingly overnight and quickly ignited a recession in all the G–20 countries. Despite that, in 2020, the demand for housing was insatiable, which caused huge jumps in home prices, a stark contrast to the drop in house prices that usually occurs in a recession.