A BuildFax simulation suggests the likelihood of a recession will almost double between 2019 and early 2020. (Photo: Shutterstock) A BuildFax simulation suggests the likelihood of a recession will almost double between 2019 and early 2020. (Photo: Shutterstock)

In 2007, subprime mortgages chipped away at the U.S. housing market. The Great Recession soon followed; global economies suffered as U.S. markets tanked.

According to BuildFax — the provider of property condition and history insights for insurance, financial and real estate institutions — U.S. housing authorization activity has one of the highest correlations with each economic downturn between 1961 and 2018.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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