Housing, inflation, interest rates and more: What to expect in the 2024 economy
The economy in 2024 is projected to experience positive growth, low unemployment, and relatively low inflation. Inflation is expected to remain within the target rate of 2 to 3%.
Housing is projected to remain atop of the economic sectors, with a growth rate as high as 5% in the 2024 economy. This will be in part due to the continued demand from millennials and Gen Zers looking for affordable housing options.
Interest rates are projected to remain low — in line with recent trends. This has a positive effect on the housing market as mortgage payments remain predictable and accessible from month to month. Low interest rates also make it easier for businesses to borrow at cheaper costs and obtain short-term working capital.
Investors should expect to see higher stock market returns in the 2024 economy thanks to a globally interconnected investment environment. A pro-business climate in the U.S. will also help stimulate the stock market.
Finally, industry sectors such as technology, healthcare, and financial sectors are expected to continue to lead the 2024 economy. These sectors often offer dynamic opportunities for investors and job seekers alike.