Source: Fox 5 Atlanta —
By now, you’ve probably heard that the economy is not in great shape. Inflation is at a 40-year high, interest rates have doubled since early this year, and real estate prices have literally gone through the roof.
But what does this all mean to the average Georgian?
FOX 5 real estate expert John Adams joined Good Day to give real advice for a real estate recession.
The economy of the United States naturally expands and contracts. Expansions are a sign of prosperity, and usually last several years. If the economy shrinks two quarters in a row, that is called a recession, and it means we need to slow things down, hopefully just a little. We call that a recession, and usually lasts less than a year.
Right now, Adams says we printed and spent too much money way too fast because it was fun, inflation kicked in, and now the Federal Reserve is trying to slow things down just a little bit.
