Amid the stock market’s volatility over the last week, some have begun to look for the bubble that might burst into the next recession. But housing experts say that real estate is unlikely to be the culprit this time around.
In the past week alone, the Dow Jones Industrial Average DJIA, +1.38% fell by nearly 2,000 points, rose nearly 600 points and then dropped again by more than 1,000 points. Some have cited strong economic news in recent weeks as the reason for the market’s fluctuations. And a sell-off in the bond market also helped to push mortgage rates to a 14-month high.