Episode 70

Published on:

9th Sep 2022

2023 is Going to be a Problem and Here is How it Impacts You

Recently, the S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, an economic indicator that measures the change in value of U.S. single-family homes on a monthly basis, picked up the first month to month price drops. All of them were found in the West, in the metros of Seattle, San Francisco, San Diego, Los Angeles, Denver and Portland. Normally, the index lags reality by approximately 4-6 months, but the numbers are telling.

In today's episode of The Higher Standard, Chris and Saied explore these results as well as more evidence backing up a significant decline in housing demand - as Chris has been suggesting for some time now.

Chris and Saied discuss the now unequivocal fact that people like Dave Ramsey and Lawrence Yun, the National Association of Realtors chief economist, were wrong in their assertions and predictions. They also review some of the interesting new data around new and existing home sales, and mortgage applications, all of which are going down.

They discuss an article from Fortune magazine saying that Goldman Sachs now forecasts the U.S. housing market downturn will be worse in 2023. They predict sharp drops this year in new home sales of 22%, existing home sales of 17%, and housing GDP of 8.9%.

They also discuss why many people seem to be clinging to the 'logical fallacy' of a growth recession - the idea that you can be in a recession and still have growth in the economy.

This is a show you do not want to miss! Join Chris and Saied for this fascinating conversation.


What You’ll Learn in this Show:

  • New data showing unequivocally that people like Dave Ramsey and other recession naysayers were wrong.
  • Goldman Sachs’ new forecast, suggesting the U.S. housing market downturn will be bad in 2022, and continue into 2023.
  • Why the idea that you can be in a recession and still have growth in the economy is a logical fallacy - one in which many people seem to believe.
  • And so much more...

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About the Podcast

The Higher Standard
This isn’t a different standard, it’s the higher standard.
Welcome to the Higher Standard Podcast, where we give you ultra-premium, unfiltered truth when it comes to building your wealth and curating the lifestyle of your dreams. Your host; Chris Naghibi is here to help you distill the immense amount of information and disinformation out there on the interwebs and give you the opportunity to choose a higher standard for yourself. Sit back, relax your mind and get ready for a different kind of podcast where we elevate your baseline with crispy high-resolution audio. This isn't a different standard. It's the higher standard.

Follow Chris here as he posts daily: https://www.instagram.com/chrisnaghibi

About your host

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Christopher Naghibi

Christopher M. Naghibi is the Founder and Chief Executive Officer of Black Crown Inc. and Black Crown Law APC, a disruptive collective of attorneys, property managers, real estate agents and contractors who handle home sales and purchases, commercial and multifamily real estate brokerage, primarily for high net-worth and celebrity clients.

His team has over 20 years of experience, 1000+ satisfied clients, $10 million in recovered costs for clients, and in excess of $20 billion dollars in closed transactions.

As a licensed attorney, real estate broker, general contractor, and now Top 100 podcast host, Chris aims to provide free financial education that allows people to take control and democratize fear in the financial world.