{"id":145898,"date":"2022-12-08T15:19:50","date_gmt":"2022-12-08T22:19:50","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=145898"},"modified":"2023-08-09T10:31:53","modified_gmt":"2023-08-09T16:31:53","slug":"10-charts-that-summarize-the-us-economy","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/10-charts-that-summarize-the-us-economy","title":{"rendered":"10 Charts That Summarize The U.S. Economy\u2014Hint: It&#8217;s A Mixed Bag"},"content":{"rendered":"\n\n      <iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC4918089930&#038;light=false\" width=\"100%\"><\/iframe>  \n\n\n\n\n<p><span data-preserver-spaces=\"true\">We\u2019re going to talk about the economy. I\u2019m not going to make economic predictions here, but I\u2019m going to try to assess where we are (or might be) in this crazy economy.<\/span><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><span data-preserver-spaces=\"true\">Are we in a recession?&nbsp;<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">Are we about to enter a recession?&nbsp;<\/span><\/li>\n\n\n\n<li><span data-preserver-spaces=\"true\">What is the biggest risk to our financial future?&nbsp;<\/span><\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Are We in a Recession?&nbsp;<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">A lot of experts, pundits, and screaming headlines would say yes.<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">JP Morgan Chase CEO Jamie Dimon thinks we are&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/nypost.com\/2022\/12\/06\/jamie-dimon-warns-of-possible-mild-to-hard-recession\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">headed for a recession<\/span><\/a><span data-preserver-spaces=\"true\">. Cantor Fitzgerald doesn\u2019t think the&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.forbes.com\/sites\/jonathanponciano\/2022\/11\/21\/goldman-warns-bear-market-isnt-over-heres-what-experts-predict-for-stocks-next-year\/?sh=dabb9c72a0ed\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">bear market is over<\/span><\/a><span data-preserver-spaces=\"true\">. The S&amp;P 500 has lost&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/money.cnn.com\/data\/markets\/sandp\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">about 17% year-to-date<\/span><\/a><span data-preserver-spaces=\"true\">. With all of these negative headlines, the world seems awfully dark. But just how accurate are they?<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">&#8220;Recession&#8221; Comes Up More Often, But Do the Headlines Match Reality?&nbsp;<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Nobel Prize-winning economist Richard Thaler says there\u2019s no recession, despite two straight quarters of negative GDP growth earlier this year. According to Thaler, calling the U.S. economy recessionary is&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.cnbc.com\/video\/2022\/08\/25\/richard-thaler-says-he-doesnt-see-anything-that-resembles-a-recession-in-the-us.html#:~:text=Nobel%20Prize%2Dwinning%20economist%20says,it%20as%20being%20a%20recession.\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">\u201cjust funny.\u201d<\/span><\/a><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Besides Thaler, we can always trust the government, right? The Deputy U.S. Treasury Chief predicts a soft landing. He believes the Fed may tame inflation and avoid a recession. Or at least that\u2019s possible. He says we have the capacity to take steps to bring inflation down but also make the needed investments to make sure the economy continues to grow he said.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren Baker of&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.itreconomics.com\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">ITR Economics<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;is a distinguished economist who can provide reliable information for the industry. She did a great job explaining at BPCON22 a contextually sensible view of why the economy might not be as bad as people think and why we may have a soft landing. I will show you several slides from her talk with a brief explanation.&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">While U.S. GDP declined two quarters in a row, Lauren pointed out that it\u2019s still at near record levels. In fact, these would still be record quarters if the last quarter of 2021 hadn\u2019t been so high. In context, the GDP looks very healthy.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1137\" height=\"631\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.21.30-PM.png\" alt=\"us GDP\" class=\"wp-image-145899\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.21.30-PM.png 1137w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.21.30-PM-300x166.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.21.30-PM-1024x568.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.21.30-PM-768x426.png 768w\" sizes=\"auto, (max-width: 1137px) 100vw, 1137px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. GDP By Quarter (2006-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren used the following slide to explain that slowing economic growth will result in less supply chain pressure. Whether you are an investor, a consumer, a house flipper, or a college student, you\u2019ve probably felt the pain of the supply chain issues since Covid started. Lauren explained that slowing economic growth would relieve some of these supply chain issues.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1120\" height=\"619\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.10-PM.png\" alt=\"us supply chain\" class=\"wp-image-145901\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.10-PM.png 1120w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.10-PM-300x166.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.10-PM-1024x566.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.10-PM-768x424.png 768w\" sizes=\"auto, (max-width: 1120px) 100vw, 1120px\" \/><figcaption class=\"wp-element-caption\"><em>Global Supply Chain Pressure Index to U.S. Purchasing Managers Index (2000-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren sure is upbeat! A fact that I really appreciate!<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">The <a href=\"https:\/\/www.bls.gov\/ppi\/\" target=\"_blank\" rel=\"noreferrer noopener\">Producer Price Index<\/a>, which often leads the <a href=\"https:\/\/www.bls.gov\/cpi\/#:~:text=The%20Consumer%20Price%20Index%20(CPI,U.S.%20and%20various%20geographic%20areas.\" target=\"_blank\" rel=\"noreferrer noopener\">Consumer Price Index<\/a>, showed a sharp decline. This could indicate that the Federal Reserve\u2019s interest rate policies are working.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"951\" height=\"531\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.28-PM.png\" alt=\"producer price index\" class=\"wp-image-145902\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.28-PM.png 951w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.28-PM-300x168.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.28-PM-768x429.png 768w\" sizes=\"auto, (max-width: 951px) 100vw, 951px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. CPI to PPI (2000-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Government spending usually leads inflation by 23 months. After a record increase during the pandemic, government spending has dropped significantly, as you will see in the next graph. Will the Consumer Price Index follow?<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"932\" height=\"516\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.42-PM.png\" alt=\"CPI to government spending\" class=\"wp-image-145903\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.42-PM.png 932w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.42-PM-300x166.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.42-PM-768x425.png 768w\" sizes=\"auto, (max-width: 932px) 100vw, 932px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. CPI to Total Government Spending (1992-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren used the following curve to show past and predict future inflation levels:<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1078\" height=\"605\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.57-PM.png\" alt=\"cpi\" class=\"wp-image-145904\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.57-PM.png 1078w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.57-PM-300x168.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.57-PM-1024x575.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.22.57-PM-768x431.png 768w\" sizes=\"auto, (max-width: 1078px) 100vw, 1078px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. CPI (1992-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">She also discussed the dreaded yield curve inversion. Many of you know that when short-term treasury yields surpass long-term rates, there is \u201calways\u201d a recession on the horizon.&nbsp;&nbsp;<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren explained, however, the inverted yield curve we recently saw was only for a few hours one afternoon. It was great for headlines, and newspapers loved it. But does it signal a recession? Lauren also pointed out that there are many yield curves that can be compared. Lauren concluded that this does not necessarily indicate a recession.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1121\" height=\"622\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.12-PM.png\" alt=\"us long-term bond yields\" class=\"wp-image-145905\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.12-PM.png 1121w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.12-PM-300x166.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.12-PM-1024x568.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.12-PM-768x426.png 768w\" sizes=\"auto, (max-width: 1121px) 100vw, 1121px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. Long-Term Bond Yields to 3-Month Treasury Bond Yield (1998-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">The Federal Reserve shows very low commercial delinquencies, which is great news. This graph going back to the early 1990s is pretty impressive. Banks have every reason to be lending still\u2014right?<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1168\" height=\"450\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/fredgraph-36.png\" alt=\"delinquency rate on commercial real estate loans\" class=\"wp-image-145915\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/fredgraph-36.png 1168w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/fredgraph-36-300x116.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/fredgraph-36-1024x395.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/fredgraph-36-768x296.png 768w\" sizes=\"auto, (max-width: 1168px) 100vw, 1168px\" \/><figcaption class=\"wp-element-caption\"><em>Delinquency Rate on Commercial Real Estate Loans (1992-2022) &#8211; <a href=\"https:\/\/fred.stlouisfed.org\/\" target=\"_blank\" rel=\"noreferrer noopener\">St. Louis Federal Reserve<\/a><\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Unemployment is shockingly low, and there are a lot of job openings right now. Lauren explained that the labor shortage would not end anytime soon, with millions of job openings. These four sectors alone have almost 2.1 million job openings.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1094\" height=\"607\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.27-PM.png\" alt=\"us job openings\" class=\"wp-image-145906\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.27-PM.png 1094w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.27-PM-300x166.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.27-PM-1024x568.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.27-PM-768x426.png 768w\" sizes=\"auto, (max-width: 1094px) 100vw, 1094px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. Job Openings by Industry (2018-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">U.S. retail sales are slowing, but they are still near record rates.&nbsp;<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1114\" height=\"623\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.41-PM.png\" alt=\"us retail sales\" class=\"wp-image-145907\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.41-PM.png 1114w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.41-PM-300x168.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.41-PM-1024x573.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.23.41-PM-768x430.png 768w\" sizes=\"auto, (max-width: 1114px) 100vw, 1114px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. Total Retail Sales (2000-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren explained that while interest rates are relatively high now, they are still negative when adjusting for inflation. Meaning that even if you took out a mortgage today, you could look at it like you are making money while borrowing money. Dave Ramsey would hate me for saying that.<\/span><\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img loading=\"lazy\" decoding=\"async\" width=\"1126\" height=\"632\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.24.03-PM.png\" alt=\"us mortgage rates\" class=\"wp-image-145908\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.24.03-PM.png 1126w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.24.03-PM-300x168.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.24.03-PM-1024x575.png 1024w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2022\/12\/Screen-Shot-2022-12-08-at-4.24.03-PM-768x431.png 768w\" sizes=\"auto, (max-width: 1126px) 100vw, 1126px\" \/><figcaption class=\"wp-element-caption\"><em>U.S. 30-Year Mortgage Rate to New Home Median Sales Price (1971-2022) &#8211; ITR Economics<\/em><\/figcaption><\/figure>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren had a lot of great thoughts as she summarized.<\/span> Here are her three main points on macroeconomic trends:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>U.S. economic growth is dissipating into a &#8220;soft landing&#8221;<\/li>\n\n\n\n<li>Underlying fundamentals suggest commodity prices should stabilize: War is a risk<\/li>\n\n\n\n<li>Supply chain issues to improve<\/li>\n<\/ul>\n\n\n\n<p><span data-preserver-spaces=\"true\">Lauren concluded that a soft landing is possible. Even likely! That made me very happy, and the audience of about 2,000 in&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/san-diego-real-estate-market\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">San Diego<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;breathed a sigh of relief.&nbsp;<\/span><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span data-preserver-spaces=\"true\">Should You Take Comfort in this Potential Soft Landing?&nbsp;<\/span><\/h2>\n\n\n\n<p><span data-preserver-spaces=\"true\">Not necessarily. Why? Because many factors could cause this economy to topple. The&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/how-the-war-in-ukraine-can-affect-u-s-housing\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">war in Europe<\/span><\/a><span data-preserver-spaces=\"true\">&nbsp;is undoubtedly one of them. But there are others. One you might not have thought of\u2014the squeeze on credit markets!<\/span><\/p>\n\n\n\n<p><span data-preserver-spaces=\"true\">Is commercial mortgage lending tightening? If the credit markets dry up, we could see a massive slowdown in the entire economy. You can read why&nbsp;<\/span><a class=\"editor-rtfLink\" href=\"https:\/\/www.biggerpockets.com\/blog\/ticking-time-bomb-in-real-estate-is-this\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">here<\/span><\/a><span data-preserver-spaces=\"true\">.<\/span><\/p>\n\n\n\n<div id=\"hero-block_62ee867235a1c\" class=\"first:mt-0 hero-block py-4    has-background has-slate-300-background-color has-text-color has-slate-800-color\">\n    <div\n        class=\"gap-10 lg:gap-20 flex flex-wrap lg:flex-nowrap max-w-screen-xl mx-auto px-4 relative lg:items-center \">\n\n        <div class=\"relative z-30 lg:w-2\/3 \">\n            <main class=\"py-4\">\n                \n\n<p class=\"has-theme-slate-color has-text-color has-large-font-size\" style=\"font-style:normal;font-weight:800\">Prepare for a market shift<\/p>\n\n\n\n<p class=\"my-3 md:my-5 lg:my-8 has-theme-slate-color has-text-color\" style=\"font-size:16px\">Modify your investing tactics\u2014not only to survive an economic downturn, but to also thrive! Take any recession in stride and never be intimidated by a market shift again with <em><a class=\"rank-math-link\" href=\"https:\/\/store.biggerpockets.com\/products\/recession-proof-real-estate-investing?utm_source=blog&amp;utm_medium=blog%20banner\" target=\"_blank\">Recession-Proof Real Estate Investing<\/a><\/em>.<\/p>\n\n\n\n<div id=button-custom-event-block_64138705d4d27 class='button-custom-event'>\n      <a href=\"https:\/\/store.biggerpockets.com\/products\/recession-proof-real-estate-investing?utm_source=blog&#038;utm_medium=marketing_block\" x-on:click=\"window.analytics.track(&#039;Blog Block | Publishing: Recession Proof Book&#039;, {\n      referrer: &#039;https:\/\/www.biggerpockets.com\/blog\/10-charts-that-summarize-the-us-economy&#039;,\n    });\" class=\" btn-shape inline-block no-underline has-background has-theme-blue-background-color has-text-color has-white-color\" target=\"_blank\">Get Yours Now<\/a>\n  <\/div>\n\n            <\/main>\n        <\/div>\n\n                <div class=\"lg:w-1\/3 first:mt-0 relative h-full lg:flex lg:items-center\">\n            <img decoding=\"async\" class=\"object-cover w-full relative z-20 my-0  rounded-md hidden lg:block\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2021\/04\/recession-proof.png\" alt=\"\" title=\"\">\n        <\/div>\n            <\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>We\u2019re going to talk about the economy. I\u2019m not going to make economic predictions here, but I\u2019m going to try to assess where we are (or might be) in this [&hellip;]<\/p>\n","protected":false},"author":214608,"featured_media":145921,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4433,7119],"tags":[],"class_list":["post-145898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opinion","category-biggerpockets-daily"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/145898","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/214608"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=145898"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/145898\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/145921"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=145898"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=145898"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=145898"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}