Some Things Old, Some Things New: Predictions for 2021

The old year has ended. (We stayed awake past midnight on New Year’s Eve, just to be sure.) Looking ahead, we’ve compiled an assortment of predictions for those who prefer not to rely on their own crystal balls to anticipate what the coming year will bring.

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An increasingly  jittery public, anxious for some good news, got a solid dose of it in the December employment report:  Employers added 312,000 workers to their payrolls for the month, blowing well past the 182,000 jobs analysts were predicting, and extending the steak of consecutive monthly job gains to 98 months - -the longest on record. 

After several months of declining home sales, analysts have begun using the f-word ─ falling ─ to describe the housing market’s trajectory. “The housing market is stumbling through its longest slump in four years, as the divergence between a booming U.S. economy and weakening home sales that many had dismissed as temporary now looks poised to continue,” the Wall Street Journal reported.

‘Tis the season for economic forecasts  and we’ve rounded up several for you to round out our summary of the December economic reports. Beginning with where we are now.

What has been a quiet hum of concern about the housing market has grown louder, reflected in the comments of industry analysts and in headlines such as these: “Home Buyer Demand Cools Off”; “Housing Market Showing Signs of Cracking”; “Is the High-Flying Housing Market Heading for a Fall?”