A senior vice president at Real Capital Analytics says the drivers in the current economic downturn are different than the ones that spurred the global financial crisis more than a decade ago.
Jim Costello wrote in a post this week that "warning bells" were going off years before the housing market collapse in the last recession, but the downturn sparked by the COVID-19 pandemic "came on suddenly."
"The variation in drivers could lead to a faster race to the bottom for market prices this cycle," he wrote.
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Ryan Tarinelli
Ryan Tarinelli is a reporter at the New York Law Journal. He is based at the New York State Capitol in Albany, New York. He can be reached through email at [email protected]. Follow him on Twitter: @ryantarinelli.
