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As COVID-19 progresses, the economic expansion is starting to unravel, bringing down home sales this year, according to new projections released Wednesday.
The Fannie Mae Economic and Strategic Research Group forecast 14.7 percent less sales this year, along with 9.3 percent fewer housing starts, as a result of the virus, its economic impact and social turmoil. Based on their projections, existing-home sales should sink to 4.54 million this year, down from 5.34 milli...
As our lives, our businesses, and the world we live in change day by day, we're all left wondering how long this will last. How long will we feel the effects of the coronavirus? How deep will the impact go? The human toll may forever change families, but the economic impact will rebound with a cycle of downturn followed by economic expansion like we've seen play out in the U.S. economy many times over.
Here's a look at what leading experts and current research indicate about the economic impact we'll likely see as a result of the coronavirus. It starts with a forecast of U.S. Gross Domestic Product (GDP).
According to Investopedia:
"Gross Domestic Product (GDP) is the total monetary or market value of all the finished goods...
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