Economists Jamie Dimon, head of JP Morgan Chase, and Bloomberg’s Larry Summers agree that the economy is booming right now, but both have expressed concerns about the state of the national debt. They believe that spending priorities need to be set and more attention given to how the $32 million debt will be paid off, as just paying the interest on that debt has become a trillion-dollar proposition. How does this affect the ability to borrow and lend money, and what impact will it have on future economic stability? If a country’s inflation environment exceeds GDP growth, that’s called stagflation, meaning that prices are inching up, but wages are not matching, with the money that consumers do have to spend buying less and less. Prices continue to rise, and the checks that came from the government during Covid to bolster the economy have stopped. Are people spending differently because of it, and not buying some of the things they used to? How is this affecting the housing market, with the added concern that insurers are leaving certain states and homeowners insurance is getting harder to come by? What can be done to encourage the Fed to lower interest rates?
Recent legal settlements involving the National Association of Realtors are poised to reshape the real estate industry. These changes may require buyers to pay more for services they previously received at no direct cost. How will this shift alter the home-buying process and the role of real estate professionals? Are they prepared to handle all of the new regulations and roles that they’ve never been trained for? Staying informed on national trends and market conditions, combined with seeking the advice of trusted professionals is the best way to navigate the ever more complex real estate and mortgage landscape. This week’s guests include:
– Mikke Pierson (Pierson Growth Solutions) reports on business growth strategies and leadership in the current economic climate.
– George Gonzales (Southland Mortgage) introduces closed-end second mortgages as a solution for homeowners looking to consolidate debt without refinancing their primary mortgage.
