Hello everybody! Welcome back to Suburban Snacks, where we not only inform you of current Real Estate topics but also review a different food item every month! This month’s snack is…pelon mini! Before we review the snack, we’ll be trying to figure out whether or not we are headed into a recession! According to Lawrence Yun, chief economist for the National Association of REALTORS®, the country isn’t officially in a recession yet. Despite two consecutive quarters of national contraction of the gross domestic product, a commonly cited indicator of an economic downturn. There are two major factors at work counteracting current economic conditions: 1. Job creation is robust! Yun states, “We are essentially at the same level of jobs and W-2 employment now compared to pre-COVID days”. Data from the Bureau of Labor Statistics shows that there are now more job openings than unemployed people. As of June, there were 5.9 million workers searching for jobs and over 10 million job openings. 2. Commercial real estate is growing. Though a recession typically means bad news for commercial properties, the commercial market as a whole is flourishing despite a stagnant office sector. Rental demand is booming, and rents are up significantly. Demand for warehouse space has surged as retailers stock up to avoid supply chain disruptions. Hotel bookings, air travel, and park attendance are now above pre-pandemic levels. All of this increased activity has led to high demand for new commercial construction. Despite the positive economic signs, falling home sales remain a concern. So, if you are a homeowner who would like to learn more about how you’re positioned in this current market then we at Suburban would love to help! Do you like…pelon mini? Let us know in the comments below. That’s going to do it for us here at Suburban Snacks. If you have any questions or would like to get into contact with us feel free to check out our website at suburbanrealestategroup.com. Also, click the link below to follow us on Instagram. Thanks for watching, my name is Cade Olof and we will see you in the next one!