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70% Say Economy's Off Track; Home Buying Plummets

10/10/2025

50 11 Full Breakdown

Summary

Story summary

Fannie Mae data show 70% say the economy is on the wrong track.
73% view it as a bad time to buy a home.
Apollo Global Management's Chief Economist says the labor market is stagnant, with fewer openings and rising unemployment.
Mortgage rates near 6% and high prices reduce ownership, while renters expect a 6% rent rise.

History

Historical Context

The Great Recession, officially lasting from December 2007 to June 2009, was triggered by the collapse of the U.S. housing bubble and the subsequent subprime mortgage crisis. This crisis led to the bankruptcy of major financial institutions like Lehman Brothers in September 2008, resulting in a peak unemployment rate of 10% and a significant decline in household wealth, exacerbating economic inequality.

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Story summary

Fannie Mae data show 70% say the economy is on the wrong track.
73% view it as a bad time to buy a home.
Apollo Global Management's Chief Economist says the labor market is stagnant, with fewer openings and rising unemployment.
Mortgage rates near 6% and high prices reduce ownership, while renters expect a 6% rent rise.

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