Episode 115

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Published on:

14th Feb 2023

The Fed Pivots, Disney to Yahoo and Saied is Going to FaceTime

Ian Shepherdson, founder and chief U.S. economist of Pantheon Macroeconomics, believes that home prices may fall another 15% in 2023, citing the large disparity between property costs and buyer incomes. He predicted the eventual housing crash of 2008 in 2005 and recently suggested that the price-income gap, coupled with increased house supply and high mortgage rates, may precipitate a period of continued deceleration of the housing market rather than a significant rebound this year.

In this episode of The Higher Standard, Chris and Saied examine this prediction, and attempt to determine just how likely it could be based on current data.


They discuss comments from Zillow senior economist Jeff Tucker, who says that, in 2022, homeownership was further out of reach than it has been in modern recorded history. While home prices and mortgage rates may be falling, making the market at least a little more accessible, they’re doing so from historic highs.


Chris and Saied look at an interview with Minneapolis Fed President Neel Kashkari, who said that explosive jobs growth is evidence that the central bank has more work to do when it comes to taming inflation, including more hikes to interest rates.


They also offer some thoughts on the differences between the affordability crisis this time around, and the last recession.


Join Chris and Saied for this fascinating and informative conversation.


Enjoy!



What You’ll Learn in this Show:

  • The difference between being data-driven and data-based.
  • Why Bob Iger is right-sizing the company to weather the storm and to be more efficient, returning more profits to the shareholders.
  • Why Zoom has laid off 15% of its workforce.
  • What would happen if the Fed started lowering rates again and the effect it would have on inflation?
  • And so much more...


Resources:

"Economist Who Predicted the 2008 Housing Crash Says Home Prices Will Drop 15% in 2023" (article from Yahoo! Finance)

"Home prices are falling, but that doesn’t mean they’re affordable" (article from Grid)

"Bob Iger Outlines New Disney Org Structure, With 7,000 Job Cuts Planned" (article from The Hollywood Reporter)

"Fed’s Neel Kashkari says central bank has not made enough progress, keeping his rate outlook" (article from CNBC)

"Zoom to lay off 1,300 employees, or about 15% of its workforce" (article from CNBC)

"Yahoo to lay off more than 20% of staff" (article from Yahoo! Finance)


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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

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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.