Strikes, Shutdowns, Oil Prices, and More 2024 Recession Triggers

Episode #146

A 2024 recession looks a lot more likely than it did just a few months ago. While many Americans were hoping for a “soft landing,” that might not be what we get as the economy hits a breaking point. With the government only temporarily saved from a shutdown, auto workers going on strike for cost of living adjustments, student loans resuming, and oil prices skyrocketing as production slows down, we may be forced to enter into a recession.

On the flipside, GDP remains strong, Americans are still spending, and unemployment is historically low. While this could quickly change, it begs the question: is the American consumer stronger than high interest rates, rising prices, and the threat of an unknown future economy? We brought on the full “On the Market” panel to give us their take on where we’re heading and which economic threats could bring down the economy.

We’ll get into the nitty-gritty of the recent UAW strike that is putting a bottleneck on transportation, the government shutdown that risks millions going unpaid, student loan resumption that could force Americans to forgo optional spending, and an exacerbated oil price increase that is hurting the everyday American (and especially Californians).

~~~~
Join BiggerPockets for FREE 👇
https://www.biggerpockets.com/signup?utm_source=owned_media
~~~~
Listen to The “On The Market” Podcast Wherever You Listen to Podcasts:
BiggerPockets: https://www.biggerpockets.com/podcasts/on-the-market?utm_source=owned_media
Apple Podcasts: https://podcasts.apple.com/us/podcast/on-the-market/id1615086704
Spotify: https://open.spotify.com/show/2NlzZ9NtHtZ2uBuaDNoGzY
~~~~
Join the Future of Real Estate Investing with Fundrise:
https://www.fundrise.com/bpmarket
~~~~
Find an Investor-Friendly Agent in Your Area:
http://biggerpockets.com/agentmatch
~~~~
Find Investor-Friendly Lenders:
http://biggerpockets.com/findlenders
~~~~
Is College Worth the Cost? w/Preston Cooper:

Is College Worth the Cost? This 30,000 Variable Study Says “Sometimes…”

~~~~
Why the Fed is Steering Us Straight Towards the Next Great Recession:

Why the Fed is Steering Us Straight Towards the Next Great Recession

~~~~
Connect with Dave and Our Panel of Expert Guests:
Dave Meyer: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Henry Washington: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none
James Dainard: https://www.biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none
Kathy Fettke: https://www.biggerpockets.com/users/kfettke?utm_source=youtube&utm_medium=description&utm_campaign=none
~~~~
Follow Dave and Our Guests on Instagram:
Dave: @thedatadeli or https://www.instagram.com/thedatadeli/
Henry: @thehenrywashington or https://www.instagram.com/thehenrywashington/
James: @jdainflips or https://www.instagram.com/jdainflips/
Kathy: @kathyfettke or https://www.instagram.com/kathyfettke/
BiggerPockets: @biggerpockets or https://www.instagram.com/biggerpockets/

Show notes at: https://www.biggerpockets.com/blog/on-the-market-146?utm_source=youtube&utm_medium=description&utm_campaign=none

00:00 Intro

01:14 Redfin Ditches NAR

05:37 1. Student Loan Payments Resume

14:54 2. UAW Strikes Grow

22:30 3. Government Shutdown Looks Likely

29:20 4. Oil Prices Jump

35:49 Our Q4 Economic Forecast