Housing Is Providing Another In A Line Of Troubling Signs Pointing To An Economic Downturn

A Federal Reserve economist says the current housing backdrop is similar to recent economic slumps, with several metrics "consistent with the possibility of a late 2019 or early 2020 recession."

"Data on single-family home sales through May 2019 confirm that housing markets in all regions of the country are weakening," the St. Louis Fed's William R. Emmons said in a report posted on the central bank district's site.

"The severity of the housing downturn appears comparable across regions-in all cases, it's much less severe than the experience leading to the Great Recession but similar to the periods before the 1990-91 and 2001 recessions."

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