by Pierre G. Villere Just a couple of months ago, I wrote about the outlook for a strong economy for the foreseeable future, and I cited the confluence of events that is apparent around us: Inflation that is falling, the outlook for interest rate cuts later this year, and the robust performance of the stock markets that is bolstering everyone’s 401(k)…
Read MoreOne of the key drivers to growth in our economy is sheer population growth, which by its very nature spurs household formations. But so many other corners of our economy benefit from population growth other than just the housing market. These new entrants to our economy have to buy goods and services, put gas in their cars, pursue entertainment options,…
Read MoreThere has been a confluence of events and happenings in the past few weeks that, when taken together, portend a much healthier new year in 2024 than anyone could have imagined as recently as just this past fall. First, news about inflation has surprised everyone, as we witnessed a sharp decline in the rate of inflation in just the last…
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I have written in the past about Hans Christian Anderson’s famous folktale from the 1830s, “The Emperor’s New Clothes,” and some recent events prompt me to remind readers about this very instructive lesson in life. The story relates a tale of two swindlers who arrive at the capital city of an emperor who spends lavishly on clothing at the expense…
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As I have written many times in the past, we pay close attention to both the Conference Board’s monthly measure of consumer confidence, as well as a similar measure from the University of Michigan which they characterize as consumer sentiment. Both descriptions are really interchangeable, as they measure how consumers feel about the times, both politically and economically. We publish…
Read MoreThe Covid-19 pandemic was one of the most disruptive events of the last 100-plus years, on the level of two world wars, although it did not last as long. But like the world wars of the past century, when women were enlisted to work in factories in all manner of jobs previously held by men so the men could go…
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The day before this column was due, I suffered a serious hand injury which made it impossible to write on a keyboard. I gave up on writing with dictation software years ago, as it is the connection with the keyboard that allows me to do my best work. With my editor’s permission, I dusted off an educational column I wrote…
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As I travel around the country visiting with clients and making industry presentations, I hear the same from almost every producer about the challenges in their businesses: not enough drivers, fuel costs, and materials cost rising faster than they can pass them on among the most frequent. But there is another shoe about to drop that may impact producers, both…
Read MoreLast month, I focused on the general housing inventory issue, which has gone from serious to critical in many markets. I opined that we won’t see any relief from these inventory challenges until interest rates start to fall, but there is more that comes into play beyond interest rates that will steady the housing market; another factor is simply builder…
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by Pierre G. Villere With the rifle-shot increase in interest rates over the last 18 months, catapulting from near zero for certain commercial credits to well over 6.5 percent for home mortgages, we are experiencing something we have not seen in decades: homeowners are sitting on their hands and staying put in their homes, corralled by 30-year fixed mortgage rates…
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