As Robert Frick, Corporate Economist with Navy Federal Credit Union, explains:“Hopes that an economic slowdown will depress housing prices are wishful thinking at this point . . .”Bottom LineIf you’ve been waiting for a recession to make your move, it’s important to understand what really happens during one – and what likely won’t.

As economists at Moody's and J.P.

As Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), explains:“ . . . with housing inventory levels reaching five-year highs, homebuyers in nearly every region of the country are in a better position to negotiate more favorable terms.”And just in case you’re worried there are too many homes on the market, here’s what you should know.

Danielle Hale, Chief Economist at Realtor.com, says:“The rising share of price reductions suggests that a lot of sellers are anchored to prices that aren’t realistic in today’s housing market.

And that’s why you need a solid plan to get there.As Joel Berner, Senior Economist at Realtor.com, explains:“Households working on their budget will find it much easier to continue to rent than to go through the expenses of homeownership.

Listings are up and now sellers are cutting prices at the highest level in 10 years, especially in cities like Tampa, Phoenix, and Las Vegas.Purple is Bad, Red is GoodFor instance, the Bloomberg article on the drop in pending home sales they quote the chief economist from the National Association of Realtors who claims it's all about mortgage rates.

As Sam Williamson, Senior Economist at First American, says:“A home is more than just a place to live—it’s often a family’s most valuable financial asset and a cornerstone to building long-term wealth.”Bottom LineReal estate isn’t about overnight wins.

At this critical stage of the housing market, it is all about mortgage rates," said NAR Chief Economist Lawrence Yun."

Which then reminds me when the economist or stock analysts predicts a 1.3% decline and we get a 5% increase.

Actually, I was at the unfortunately named "Best Ever Conference" in Salt Lake 2 weeks ago that Joe Fairless (Ashcroft) helped start and all the talk from some very highly placed economists and analysts was that the regulated lenders and banks were the focus.