Episode 66

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Published on:

26th Aug 2022

Housing Recession is Here, RIP Volker & Yabba Dabba Doo!

Despite what internet sources such as Keeping Current Matters claim, Fitch Ratings is reporting that the odds of a severe housing downturn have risen, while US home prices could sink as much as 15%, more or less in line with what Chris has been suggesting for some time, based on the available data.

In today's episode of The Higher Standard, Chris and his co-host offer their usual mix of opinion and insight to cut through the noise and give you a slightly clearer view on the economy and the world.

They discuss the recent report by Fitch Ratings Inc., a credit rating agency and one of the "big three" in the United States, along with Standard & Poors and Moody's.

Chris shares his thoughts on a recent National Association of Homebuilders survey that shows that a lot of homebuilders are lowering prices, on average, by about 5%. This is not only to get more buyers in the door, but also to slow cancellations.

They also discuss the strange disconnect between many of the social media outlets, such as Keeping Current Matters, claiming that housing is fine, while the National Association of Realtors is stating that their specific industry is in a recession.

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

Enjoy!

What You’ll Learn in this Show:

The Fitch Ratings report that appears to be proving Chris' pasty comments to be more or less correct.
A National Association of Homebuilders survey that shows that homebuilders are lowering prices in order to slow cancellations.
The mixed messages being offered by social media outlets, which seem to dispute the opinions of organizations and people actually in the industry itself.
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 hosts; Chris Naghibi and Saied Omar 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.

About your host

Christopher Naghibi

Christopher M. Naghibi is the host and founder of The Higher Standard podcast — a rapidly growing media platform delivering unfiltered financial literacy, real-world entrepreneurship lessons and economic commentary for the modern era.

After nearly two decades in banking, including his most recent role as Executive Vice President and Chief Operating Officer of First Foundation Bank (NYSE: FFWM), Christopher stepped away from corporate life to build a brand rooted in truth, transparency, and modern money insights. While at First Foundation, he had executive oversight of credit, product development, depository services, retail banking, loan servicing, and commercial operations. His leadership helped scale the bank’s presence in multiple national markets from $0 to over $13 billion.

Christopher is a licensed attorney, real estate broker, and general building contractor (Class B), and he brings a rare blend of legal, operational and real estate expertise to everything he does. His early career spanned diverse lending platforms, including multifamily, commercial, private banking, and middle market lending — holding key roles at Impac Commercial Capital Corporation, U.S. Financial Services & Residential Realty, and First Fidelity Funding.

In addition to his media work, Christopher is the CEO of Black Crown Inc. and Black Crown Law APC, which oversee his private holdings and legal affairs.

He holds a Juris Doctorate from Trinity Law School, an MBA from American Heritage University, and two bachelor degrees. He is also a graduate of the Yale School of Management’s Global Executive Leadership Program.

A published author and sought-after speaker (unless it’s his son’s birthday), Christopher continues to advocate for financial empowerment. He’s worked pro bono with families in need, helped craft affordable housing programs through Habitat for Humanity, and was a founding board member of She Built This City — helping spark interest in construction and trades for women of all ages.