IMF's economic outlook gets gloomier; US inflation climbs 0.4%; Top Ten richest US cities by household income; Bulk buying; The future of work is...
Ryan Patel
Global Business Executive | Board Director | CNN Contributor | Keynote Speaker | Webby Award Nominee | Host of "The Moment with Ryan Patel" Filmed at The HP Garage | Making Complex Topics Simple | LinkedIn Top Voice |
Welcome to "Ryan is Curious" Headlines, your biweekly roundup of conversations that piqued my interest across all topics and industries. Don't forget to subscribe and click the bell icon on my profile to ensure you don't miss anything! Let's jump right into it:
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IMF's economic outlook gets gloomier
The International Monetary Fund just downgraded its projection for world growth for 2022 and 2023; this is the fourth such revision this year.
Currently, the IMF and World Bank Group are holding their annual meetings for 2022. A few highlights from today:
"Global growth is forecast to slow from 6.0 percent in 2021 to 3.2 percent in 2022 and 2.7 percent in 2023. This is the weakest growth profile since 2001 except for the global financial crisis and the acute phase of the COVID-19 pandemic."
"Global inflation is forecast to rise from 4.7 percent in 2021 to 8.8 percent in 2022 but to decline to 6.5 percent in 2023 and to 4.1 percent by 2024."
“We estimate that countries accounting for about one-third of the world economy will experience at least two consecutive quarters of contraction this or next year..." - IMF Managing director Kristina Georgieva
I was live on air discussing this. As you might expect, the discussion centers on how to address the risk of a global recession, implement policies to combat inflation, as well as how to safeguard rising living costs, and support emerging and developing markets.
Full Post ----> Here
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Top Ten richest US cities by household income
Which US metropolitan area do you think you would have guessed had the highest median household income?
The 2021 American Community Survey (ACS) household income data was recently released by the U.S. Census Bureau. The most populous US metropolitan areas and changes in the median household income between 2019 and 2021 are both examined in the report. The top 10 metropolitan median household incomes are listed below:
Does anything on the list surprise you? Which metro area do you anticipate will keep growing? What new metro area will crack the top 10 next year?
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Will bulk buying be a new trend in the housing market?
"Ryan is Curious" Poll - Housing Markets 🏠
Do you like bulk buying?
When I think of bulk purchases, I think of Costco Wholesale, Sam's Club, and other warehouses....but there was a recent article in The Wall Street Journal titled "Home Builders Offer to Sell Homes in Bulk at Discount to Investors."
Mortgage rates are at a 15-year high, and individual homebuyers are pulling out of the market, according to Kinloch Partners' co-founder, which "presents an opportunity for investors." "Builders have offered to sell him thousands of completed or planned homes for up to 20% less than what they normally charge potential home buyers." (WSJ)
Additionally, the following recent CoreLogic Home Price Index caught my eye, and I thought it was interesting...check out the highlights:
- Year-over-year home price appreciation slowed to 13.5% in August, the fourth consecutive month of lower annual growth
-Annual U.S. home price gains are forecast to slow to 3.2% by August 2023
- Miami posted the highest year-over-year home price increase of the country’s 20 largest metro areas in August, at 27.1%, while Tampa, Florida dropped to the second spot at 26.9%.
- Florida and Tennessee posted the highest home price gains, 26.4%, and 20% respectively. North Carolina ranked third with a 19.9% year-over-year increase. Washington, D.C. ranked last for appreciation at 2.4%.
What do you think—will the housing market continue to decline or will it soon begin to stabilize?
👇🏾 Love to hear your thoughts in the comments below.
Full Post ----> Here
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"Life is like riding a bicycle. To keep your balance, you must keep moving forward." - Albert Einstein
Recommended by LinkedIn
How do you maintain your balance while carrying out all of your responsibilities?
At the end of UNGA week, I found a few moments to myself before giving my opening remarks at a very special dinner event. To learn more about that special event, check out last biweekly edition of "Ryan is Curious" Newsletter....
"Only when moving can one comfortably maintain one's balance"
As many of you already know, my socks have meaning and serve as a constant reminder of the journey; however, these socks also have another significance, which I hope to reveal in the near future too. Stay tuned!
How do you stay comfortable?
Full Post ----> Here
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The Future of Work is ___________.
How would you describe what work will look like in the future? I look forward to reading your responses in the following comments.
I'm excited to be speaking at The Economist Innovation@Work US 2022 in San Jose, California in two weeks, both in person and virtually!
I am excited to have one on one conversations with:
- Alisha A. Alaimo - President, Biogen US
- Rob Falzon - Vice Chair, Prudential Financial
- Louis DeJoy - Postmaster General, United States Postal Service
- Holly May - Executive Vice President, and Global Chief Human Resources Officer, Walgreens Boots Alliance
The range of discussion topics includes: What makes up the DNA of healthy hybrids? The evolving employee-employer relationship and nurturing employee purpose. Innovation and creative destruction: preventing legacy tools and legacy mindsets from holding back progress panel with Kirti Gupta, Chief Economist, Vice-President, economic strategy, Qualcomm; Nicole Turner, Senior Vice President, technology hubs, Mastercard; and Frank Liberio, Chief Information Officer, Restaurant Brands International
As the event promises, I can't wait for the audience to gain some new inspiration and insights "to rethink and build the future of work"!
Full Post ----> Here
Free Pass to the event ----> Here
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Linkedin Community Shoutouts!
In each newsletter, I will highlight one (or some) of the comments made by Linkedin community members on my posts. So many great (and fun) comments; so hard to narrow down!
Shoutout to Godfrey, Lisa, Matt, Ken, Ebru, TaMiya, Varun, Vernon, Travis, Benita, Jim, Brendan, Tien, Melissa and Ankit!
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What's your take on these headlines or others we should be discussing?
Join in by sharing your own thoughts on these topics in the comments below.
Thanks for reading! 🙏🏽
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Ryan Patel is a global business executive, board member, TV contributor, and host of "The Moment"
Check out his Linkedin Learning Course: "Cultivate a Global Entrepreneurial Mindset in a Remote Working World"
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LinkedIn Creator focused on long term care facility development, management structure, activities, pricing, ownership
2yUntil someone tax adjusts these numbers, the numbers are very inaccurate. The numbers are pre-tax, not what you net. In most cases when you adjust out Federal, State, local, sales, social security (which is often taxes twice), property, the taxes are nearly 50% of the gross. This makes pre-tax income essentially meaningless as shown in the charts with this write-up. Ryan, do you agree? About 50% of these posted numbers are about what an employee has left to actually spent.
Senior Vice President, Real Estate & Construction at Academy Sports & Outdoors, Inc.
2yRyan, I am honored by your shoutout. Great post.
Coaching employees and brands to be unstoppable on social media | Employee Advocacy Futurist | Career Coach | Speaker
2yMy immediate thought is I’ve never considered bulk buying of homes and in 24 hours I’ve seen a few Instagram posts by people who’ve suddenly bought homes in bulk and renting them to build income and now your post and embedded poll. Hmm Ryan Patel is this the venture I didn’t know I needed??
Global Business Executive | Board Director | CNN Contributor | Keynote Speaker | Webby Award Nominee | Host of "The Moment with Ryan Patel" Filmed at The HP Garage | Making Complex Topics Simple | LinkedIn Top Voice |
2ySpecial shout-outs for being featured in this newsletter: Godfrey, Lisa, Matt, Ken, Ebru, TaMiya, Vernon, Varun, Travis, Benita, Jim, Brendan, Tien, Melissa, and Ankit! 😃 🎉