In 1994, Mauro Prosperi was running an ultramarathon through the Sahara when he was blown off course by a sandstorm. Alone and dangerously dehydrated, he found nourishment in unexpected places
For some reason, companies laying off large numbers of people (most recently Better, Freedom, Mr. Cooper) make headlines, whereas shouldn’t the unusual, like companies that aren’t laying off anyone or who are hiring, be more newsworthy? There are indeed companies that are not laying off anyone, and in fact are hiring to take advantage of slow times. There is other good news. Despite inflation, elevated mortgage rates, and slowing sales activity, severely limited housing inventory will prevent large home price drops for most of the country next year according to NAR Chief Economist Lawrence Yun in his 2023 outlook. “For most parts of the country, home prices are holding steady since available inventory is extremely low. Some places are experiencing price gains, while some places, most notably in California, are seeing prices pull back… Housing inventory is about a quarter of what it was in 2008, distressed property sales are almost non-existent, at just 2%, a