Stock markets are plunging, consumers and businesses have started to sour on the economy, and economists are marking down their estimates for growth this year, with some even seeing rising odds of a recession.

The U.S. stiock market has dropped considerably over the last week amid concerns over the impacts of President Donald Trump's proposed tariffs.

Even if the country enters a recession, the housing market will mostly remain "on solid footing," Redfin said.

Past recessions have been the result of policy errors or disasters. The most typical policy error is when the Federal Reserve Board raises interest rates

President Donald Trump insists the U.S. is not heading toward a recession, despite ongoing market volatility and renewed tensions with Canada over tariffs. The president threatened to double tariffs on steel and aluminum after Ontario proposed a tax on electricity imports from Upstate New York.