Boom Bust Season 1 Episode 131 Stephen Rosenberg On Housing and Don Boudreax Corrects Economic

Boom Bust is a daily show that covers major market developments in the world of finance and economics. Season 1 Episode 131 features two segments, the first with Stephen Rosenberg discussing the current state of the housing market in the United States, and the second with Don Boudreax providing insights into the issues with modern economic thinking.

In the opening segment, Rosenberg, the CEO of Greystone & Co., a real estate lending, investment, and advisory firm, analyzes the impact of the current pandemic on the housing market. He discusses the sharp decline in mortgage rates and the resulting surge in demand for homes, which has created a stark contrast with the sudden drop in available inventory. Despite the current imbalance between supply and demand, Rosenberg does not believe that there is a housing bubble on the horizon. He explains that the booming housing market is driven by the record-low interest rates, a healthy job market, and demographic trends towards home ownership. Furthermore, he argues that the government's fiscal stimulus measures have supported the housing market and that the market fundamentals remain strong.

The second segment features Don Boudreax, a senior fellow at the Mercatus Center at George Mason University and a widely respected economist. Boudreax analyzes current economic thinking, which he argues is flawed due to its focus on macroeconomic aggregates such as GDP, income, and employment. He explains that macroeconomic data is too abstract and does not accurately represent the complex and diverse nature of individuals' economic lives. Boudreax advocates for a more nuanced approach to understanding economic well-being that takes into account the subjective experiences of individuals and their ability to make choices based on their own values. In his perspective, economic success is determined by the individual's ability to pursue their goals, and not just the measurable economic progress of society.

Overall, Boom Bust Season 1 Episode 131 provides insightful commentary on the housing market and broad economic thinking. It represents a valuable contribution to the ongoing discourse about how best to understand and foster economic growth and prosperity.