US housing market faces significant challenges: The US housing market is experiencing a downturn due to high mortgage rates and home prices, leading to historically low home sales and affordability issues for buyers.
The US housing market is experiencing a significant downturn, with home sales projected to reach their lowest levels since 1995. This is due to historically high mortgage rates and home prices, making it the least affordable environment for buying a home since 1985. As a result, consumers are hesitant to buy, leading to a surge in price reductions and a slow market. The situation is so severe that even those with solid incomes are finding it difficult to afford a home. The housing crisis is expected to persist during the fall and winter seasons when home buying activity traditionally slows down. Overall, the current housing market is presenting significant challenges for both buyers and sellers.
Housing market affordability crunch impacts individuals and economy: The housing market's low supply and high demand lead to increased home prices and rents, contributing to inflation and potentially hindering economic growth. Simultaneously, the tech sector, including LinkedIn, undergoes layoffs while focusing on AI talent, reflecting industry trends.
The current housing market is experiencing a significant affordability crunch due to a low supply of homes for sale and high demand, leading to increased home prices and rents. This situation not only impacts individuals' financial decisions but also has broader economic implications. It contributes to inflation, as rents make up a significant portion of overall inflation, and may hinder economic growth by affecting industries reliant on home sales and construction. Meanwhile, the tech sector, specifically LinkedIn, is undergoing layoffs, with a focus on hiring more AI talent as part of a larger industry trend. These changes highlight the ongoing impact of technology on the job market and the economy as a whole.
LinkedIn integrates generative AI into its platform for recruitment and hiring: LinkedIn invests in AI to improve recruiting and hiring processes, focusing on candidate discovery, AI-powered coaching, generating profile and job descriptions, and AI-conversation starters.
LinkedIn, owned by Microsoft, is reallocating resources towards integrating generative AI into its platform, particularly in areas like candidate discovery for recruiters, AI-powered coaching, generating profile and job descriptions, and AI-powered conversation starters. This shift is driven by Microsoft's $13 billion investment in OpenAI and the desire to make recruiting and hiring more efficient. LinkedIn's success, with revenue surpassing $15 billion in the last fiscal year, positions it as a prime platform for AI implementation. Despite some concerns about the potential for increased spam, the benefits of AI for LinkedIn's users and recruiters are significant. Meanwhile, the number of students earning accounting degrees has seen a major drop, with a 7.8% decrease in bachelor's degrees and a 6.4% decrease in master's degrees in the 2021-2022 academic year, which is concerning for an industry already facing a shortage of accountants.
Accounting Industry Faces Challenges with Stagnant Pay, Long Hours, and Automation: The accounting industry is losing over 300,000 professionals due to stagnant pay, long hours, and the threat of automation, leading to concerns about the future of the field. However, there is still demand for human accountants, and colleges are adapting to new technologies to prepare graduates for the changing landscape.
The accounting profession is facing significant challenges, including stagnant pay, long hours, repetitive work, and the threat of automation and outsourcing. These factors have led to a mass exodus of over 300,000 accountants from the industry between 2019 and 2021. Despite the need for accounting services, firms are looking overseas for talent and implementing AI technology, leading to concerns about the future of the industry. Accounting graduates are opting for other fields due to the high cost of education and the perception of limited growth opportunities. However, there is still demand for human accountants, and colleges are trying to adapt by focusing on new technologies and trends in the field. The accounting industry will need to address these challenges by increasing pay, providing more opportunities for growth, and adapting to new technologies to remain competitive.
Getting Ready With Me: From Celebrity Peek to Personal Content: The GRWM trend has evolved from a celebrity peek into a personal form of content creation, offering a significant marketing opportunity for beauty brands and a relatable experience for audiences.
The "Get Ready With Me" (GRWM) trend, popularized by influencers on platforms like Instagram and TikTok, has evolved from a way for fans to peek into the lives of celebrities and their beauty routines to a more authentic and personal form of content creation. Originating from the Into the Gloss blog's "Top Shelf" section, the GRWM trend has grown to include influencers sharing intimate details from their lives while getting ready. This trend has struck a chord with audiences in the TikTok era and has become a significant marketing opportunity for beauty brands, who often collaborate with influencers to promote their products. The trend has shifted from being dominated by celebrity influencers to a more democratic platform where anyone can share their daily routines and experiences, making it a relatable and authentic form of content.
Automation in Fast Casual Industry: Salad Making and Tortilla Chip Production: Fast casual chains like Sweetgreen and Chipotle automate processes for reduced prep time, increased accuracy, and improved efficiency, but concerns include cost, scalability, and impact on customer experience.
The use of automation in food preparation, specifically in the fast casual industry, is gaining significant momentum. Companies like Sweetgreen and Chipotle are leading this push to automate processes such as salad making and tortilla chip production, with the goal of reducing preparation time, increasing accuracy, and improving efficiency. This trend is being driven by factors such as tight restaurant margins and the rise of online ordering, which require restaurants to serve both in-person and digital customers effectively. However, there are concerns about the cost and scalability of implementing these new systems, as well as the potential impact on the customer experience. For instance, some argue that the use of robots may detract from the luxury experience that customers value at places like Sweetgreen, where the manual preparation of ingredients is part of the appeal. Additionally, there are challenges to successfully automating the preparation of soft ingredients, such as goat cheese. Despite these concerns, the push towards automation is expected to continue as companies seek to streamline operations and meet the demands of a changing market.
Technology Transforms Industries: Hollywood to Fast Food: Hollywood negotiates AI implementation safeguards, while unorganized workers in fast food have little control. New sports like squash and flag football reflect industry adaptations to new markets and diverse global talents.
The integration of technology, particularly automation, is transforming various industries, from Hollywood to fast food, with potentially significant impacts on labor and wages. While organized industries like Hollywood can negotiate safeguards around AI implementation, unorganized workers, such as those in the fast food sector, have little control over the situation. New Olympic sports, like squash and flag football, reflect the trend of expanding into new markets and showcasing diverse global talents. Squash, a racket sport with a vast international appeal, is an exciting addition, and the NFL's investment in flag football as a global version of American football further highlights the importance of adapting to new markets.
Considering New Sports for Revenue and Viewership: The IOC considers adding new sports for financial gain and higher viewership numbers, not for the love of the game.
The International Olympic Committee is considering adding new sports to the Olympics, such as flag football, not out of sympathy or excitement for the sport itself, but to increase viewership and revenue. Neil and the hosts discussed various Olympic sports and speculated about which one Neil could potentially excel in if given four years to train with unlimited resources and no injuries. They considered sports like bobsled, shooting, and sailing, with Neil expressing interest in sailing due to its potential learnability. However, they acknowledged that mastering any Olympic sport would require significant dedication and skill.
Home Sales Have Never Been Slower & No One Wants to be an Accountant
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1998 FBF: Investing in Dubai with Jawad S. Mian Editor of ‘Stray Reflections’ & Founder of The Good Society Fund
Today's Flashback Friday is from episode 413, published last September 15, 2014.
Jawad S. Mian is the Founder and Chief Investment Officer of TGSF (The Good Society Fund) Advisors. He's also the Editor of the "Stray Reflections" monthly investment newsletter. Based in Dubai, Mian is an expert on Dubai, Qatar and Middle Eastern investments.
Mian discusses Dubai as a travel and living destination. He also shares the investment opportunities available in Dubai, Iran and Iraq.
Jawad Mian was born on a cloudless January night in 1984. He originally hails from Pakistan but was born and raised amid very high temperatures in United Arab Emirates. His initial plan was to become a doctor, then a lawyer, but fell in love with the global macro world instead. He survived seven cold winters in Canada during which he studied finance and economics at The University of Western Ontario and started his career as a bank teller.
To his surprise, he would go on to obtain the CFA and CMT charter after tireless effort. Most recently, he ran $250 million across global markets for a Middle East based quasi-sovereign entity. He left to start-up his own fund. He was last seen sporting a beard and getting ready for a journey no one knew anything about, not even him.
Every month, he sends us his thoughts from the road…
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Creative Destruction
Double Dip Housing Recession Leads to 50% Fewer LO's
If you're still in the Real Estate or Lending industry, this podcast is a must-listen.
We're presenting sobering data that shows a 50% reduction in NMLS licensed originators from the high point in 2021. But it's not all doom and gloom; we discuss how you can turn the tide and be actually hungry to do what winning requires. From the potential of a 'housing recession' to the rising debt and interest rates, we cover it all.
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1790: 12 Week Year by Brian Moran- Achieve More in 12 Weeks Than Others Do In 12 months
Register for the VIRTUAL LIVE Creating Wealth conference on January 28 and 29, 2022.Visit JasonHartman.com today!
In today's 10th episode Jason welcomes an old friend, Brian Moran, author of the best-selling book The 12 Week Year-The guide to shortening your execution cycle down from one year to twelve weeks
Most organizations and individuals work in the context of annual goals and plans; a twelve-month execution cycle. Instead, The 12 Week Year avoids the pitfalls and low productivity of annualized thinking. This book redefines your "year" to be 12 weeks long. In 12 weeks, there just isn't enough time to get complacent, and urgency increases and intensifies. The 12 Week Year creates focus and clarity on what matters most and a sense of urgency to do it now. In the end more of the important stuff gets done and the impact on results is profound.
- Explains how to leverage the power of a 12 week year to drive improved results in any area of your life
- Offers a how-to book for both individuals and organizations seeking to improve their execution effectiveness
- Authors are leading experts on execution and implementation
Turn your organization's idea of a year on its head, and speed your journey to success.
Key Takeaways:
3:14 Introducing New York Times best-seller Brian Moran
7:42 How does it work
11:09 Tracking your lead and lag indicators and scoring your execution
14:27 An overview of the mechanics
17:20 Accountability as ownership; you always have a choice
19:28 You are the problem and the solution
20:51 Be comfortable with being uncomfortable
22:00 Envisioning your vision, not a pipe dream
24:52 Find out more about The 12 Week Year
Tweetables:
We are driven by our mindset; our thinking drives everything- Brian Moran
You have to sacrifice to be great- Brian Moran
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Uncommon Accountability: A Radical New Approach To Greater Success and Fulfillment
The WEALTH TRANSFER is happening FAST! Protect your financial future now! Did you know that 25% to 40% of all dollars ever created were dumped into the economy last year??? This will be devastating to some and an opportunity to others, be sure you’re on the right side of this massive wealth transfer. Learn from our experiences, maximize your ROI and avoid regrets.
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1737 FBF: America's Economic Outlook with John Mauldin Author and Publisher of ‘Thoughts From the Frontline’
Today’s Flash Back Friday comes from Episode 298, originally published in February 4, 2013.
On this show, Jason Hartman talks with one of his investment counselors about current events, welcomes a guest caller and also brings to our listening audience the economic outlook from renowned financial expert, John Mauldin.
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Mauldin discusses “spending rearrangement”, a restructuring of our country’s spending problem and tax code, and how the election outcome influences the direction of that restructuring. The larger the government becomes, the smaller the private sector becomes – not an ideal situation for economic recovery in the U.S. Mauldin gives his insights and the possible scenarios and outcomes that could happen, depending on whether or not the deficit problem is truly solved, touching on investments, job creation, tax issues and trade deficits.
John Mauldin is also a New York Times best-selling author and a pioneering online commentator. Each week, over one million readers turn to Mauldin for his penetrating view on Wall Street, global markets and economic history. Mauldin’s weekly e-newsletter, Thoughts from the Frontline, was one of the first publications to provide investors with free, unbiased information and guidance. Today, it is the most widely distributed investment newsletter in the world.
Mauldin is a frequent contributor to publications including The Financial Times and The Daily Reckoning, as well as a regular guest on CNBC, Yahoo Tech Ticker, and Bloomberg TV. His best-selling books include Bull’s Eye Investing, Just One Thing and Endgame, as well as his recently released update to Bull’s Eye Investing – The Little Book of Bull’s Eye Investing.