The Big Short 2.0, Fake Followers Can Get You Arrested & Housing Is Changing
Ten years. That's how long we can expect to see sluggish growth in the global economy, at least according to Daniel Lacalle, author and chief economist at Tressis Gestion. Events such as Russia’s invasion of Ukraine and China’s persistent zero-Covid measures have sent shockwaves through economies around the world, sending inflation soaring and weakening activity. The IMF now projects that global GDP growth will slow from 6% in 2021 to 3.2% in 2022 and 2.7% in 2023. The Fund called it “the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the Covid-19 pandemic.”
In this episode of The Higher Standard, Chris and Saied examine Lacalle's comments and the projections of the IMF to try and determine the effect they will have on the economy.
They discuss comments from Scion Asset Management founder and The Big Short investor Michael Burry, who has stated that while inflation has peaked, it is likely to pick up again in response to government stimulus.
Chris and Saied look at the prevalence of fake followers on social media, particularly Instagram, and the effect that can have on a business.
They also offer some thoughts on the CATO Institute's 2022 Housing Affordability National Survey, which indicates that around 55% of Americans say they cannot afford to buy their home in today's market, resulting in the second biggest home price correction of the post-WWII era.
Join Chris and Saied for this fascinating and informative conversation.
Enjoy!
What You’ll Learn in this Show:
- Why home prices have gone up 46% in the period of two years in some markets.
- The differences between business loans and single-family residence loans.
- Why rental rates are on the downward trend in most states.
- Why luxury home sales have been experiencing the biggest decline on record.
- And so much more...
Resources:
"The Washington State AG has sued a plastic surgery provider for manipulating customer reviews and buying fake Instagram followers." (Robert Freund via Twitter)
"The US is in a recession 'by any definition,' 'The Big Short' investor Michael Burry says." (Bloomberg Business via Instagram)
"US suffering from the second biggest home price correction of the post-WWII era" (article from Fox Business)
"Nevada rent prices see greatest decline nationwide, report shows" (article from the Washington Examiner)
"Global economy is heading into a decade of low growth, economist says" (article from CNBC)
"Deep freeze: Luxury home sales suffer biggest hit on record" (The Real Deal via Instagram)
"Luxury-Home Sales Sink 38%, the Biggest Decline on Record" (article from Redfin)
"Here's how much housing affordability tanked this year" (article from Yahoo! Finance)
