Wednesday Reading List

Powell: Once mortgage rates ‘normalize’ we’ll still be left with a housing shortage by ResiClub

Powell shared with Congress that the housing market is undersupplied and will remain so for years due to zoning challenges, difficulty in getting labor and materials, and people holding onto homes with low rates and not wanting to move.

Americans Don’t Care as Much About Work. And It Isn’t Just Gen Z. by The Wall Street Journal

It isn’t just Gen Z, although that’s what older generations would have you think. Covid and remote work changed people’s connections to their offices and jobs. This could lead to more outsourcing and job openings going unfilled and challenges to commercial real estate.

Headline Grabbing Unemployment Trend by Jeremy Siegel

Siegel’s latest commentary shares that a May rate cut might be possible since Powell has been dovish lately and the unemployment rate is close to topping 4%, we’re not at speculative levels in tech yet, but he’d like to see the rally broaden to small cap and value (which may have started last week), and that while small banks may be in trouble he doesn’t see it metastasizing to a bigger issue.

2024 Elections: What Are the Trade Risks? by Charles Schwab Asset Management

Jeffrey Kleintop’s latest shares that voters in over 80 nations and territories—representing more than half the world’s population—are expected to head to the polls this year. Global elections may lean towards nationalist policies that could hinder trade in goods via tariffs, but also boost growth in domestic industries to counter inflationary effects.

ICYMI: March’s Book, Streaming, and Podcast Recs

Sharing the best of what I read, watched, and listened to last month.

Every Rose Has Its Thorn by Heritage Financial

Stocks advanced in February with indexes like the S&P 500 and the NASDAQ hitting new highs. While a new high for an index is not a new thing, there was a recent new 34-year high that is worth reflecting on. Why it took this long to come back is an import investment lesson.