“Nick Huber
@sweatystartup
We’re in a silent recession.
What I’m seeing:
1) Real estate struggling bad. None of my friends in this business are growing and many are going through very stressful situations trying to recap debt.
2) Home services are hungry. HVAC, plumbing, electrical in my area are slow and asking for work.
3) 5+ of my friends have gotten laid off in the last few months. A lot of talented folks too.
4) ECom getting crushed. Especially hunting, outdoor, etc. Consumer spending is way down.
5) Developers slowing way down so the entire trade sector is overstaffed. Great time to build or remodel.
6) My friend is a custom cabinet guy in Athens GA. For the first time in 20 years he’s really hungry for work and doesn’t have much on his schedule.
7) Recruiting is definitely slow compared to 2022 and even 2023. Businesses just not hiring / staffing their teams right now as a whole.
Obviously certain industries are strong and businesses are still growing, as always, but not like 2022 where everyone was winning.
What are you seeing out there?”
We're in a silent recession.
What I'm seeing:
1) Real estate struggling bad. None of my friends in this business are growing and many are going through very stressful situations trying to recap debt.
2) Home services are hungry. HVAC, plumbing, electrical in my area are slow…
— Nick Huber (@sweatystartup) November 21, 2025
53% of US homes have lost value over the last year, the highest share of depreciation in 13 years
byu/RobertBartus inEconomyCharts
The homebuyer affordability gap today is larger than it was at the peak of the 2008 housing bubble.
byu/ColorMonochrome inREBubble
Auto repossessions are now its highest since 2009
byu/TonyLiberty inFluentInFinance