Prolonged Shutdown Could be Trouble for Housing; Home Price Growth is Still a Thing; Rates at 2019 Highs
Fannie Mae does not expect a lasting impact from the current partial government shutdown, at least if it is over soon. In its January Economic Developments report, the company's Economic and Strategic Research (ESR) Macroeconomic Forecast Team again predicts a slowing in economic growth, down from the estimated pace of 3.1 percent in 2018 to 2.2 percent this year. This moderation, from what they say will probably turn out to be the strongest pace of the recovery, will be due to the fading effects of the fiscal stimulus and tightening financial conditions. They add however that despite the shutdown, the economy will continue to grow , and the current expansion will become the longest on record. Despite the economic strength in 2018 there were still some evident trouble spots, especially in housing
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