137: A “Soft Landing” Looks Shaky as Recession Risk Starts to Rise w/Bloomberg’s Anna Wong

The Chinese economy is facing one of its most significant tests in years . With real estate prices falling off a cliff , unemployment skyrocketing, and a currency crisis, Asia’s largest economy could hit even harder times ahead. But this doesn’t mean the rest of the world will remain unaffected. In the US, recession risks are starting to rise as hopes of a “ soft landing ” are gradually fading away. With inflation still rearing its ugly head and American households running out of cash savings, the worst could be yet to come. To give us a global view of the economy is Bloomberg LP’s Chief US Economist , Anna Wong , who also served on the Federal Reserve Board , the White House’s Council of Economic Advisers , and the US Treasury . Few people in the entire country have as good of a read on today’s economic situation as Anna, so we spared no questions about what could happen next. Anna has some recession predictions that go against the grain of popular economic forecasts. From her data, the risk of a recession is far from over , and we could be heading into a shaky Q4 of 2023 and a dismal start to the new year. She details what could happen to inflation , unemployment rates , foreclosure risk , and why the Chinese economy’s failures could have lasting effects back home. In This Episode We Cover: Why a “soft landing” looks unlikely as recession risks begin to rise again Bankruptcies, delinquencies, and why American consumers are running out of time Recession forecasts and when the worst economic effects could hit Deteriorating credit and why American home buyers are falling back into 2008 traps Chinese economic downfall and what’s causing Asia’s largest economy to crumble Effects on the US and how a global recession could appreciate the dollar’s worth And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave's BiggerPockets Profile Dave's Instagram The 2023 Recession Countdown: Is Now the BEST Time to Invest? Is the Global Economy About to Collapse? Inside China’s Real Estate Crisis Join The Bloomberg Terminal and Use Code BECO <GO> Connect with Anna: Anna on Bloomberg Anna's LinkedIn Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-137 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com . Learn more about your ad choices. Visit megaphone.fm/adchoices