“The Great Stay” Economy with Guy Berger
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In this episode of the Top of Mind podcast, Mike Simonsen sits down with Guy Berger, Director of Economic Research at the Burning Glass Institute, to talk about “The Great Stay”: how the lack of mobility in an otherwise strong labor market is impacting the housing market.
About Guy Berger:
Guy Berger is a macroeconomist with expertise in US labor markets, and currently serves as the Director of Economic Research at the Burning Glass Institute. He was previously the Principal Economist at LinkedIn, and has also worked as an economist at Bank of America and the Royal Bank of Scotland.
His work includes the creation of novel economic indicators, the development of models linking the macroeconomy to business performance, and the design of economic reports. His commentary has been featured frequently in the media, including the New York Times, Wall Street Journal, Washington Post, CNBC, Bloomberg, Yahoo! Finance and Axios. Guy holds a doctorate in economics from Yale University.
Here’s a glimpse of what you’ll learn:
- What is “The Great Stay” economy with the labor market and housing?
- Why stagnation in jobs means fewer home sales and why fewer home sales means fewer job openings
- How companies are hoarding labor like Americans are hoarding real estate
- When will this Great Stay era end?
- How the labor market will change with reduced immigration and which sectors will be hit the hardest
- Will the Fed pivot in 2025 to growing employment or will we still be fighting inflation?
- The most important demographic trends to consider in the next few years
- Outlook for the future of jobs in America with big trends like AI and remote work
Related to this episode:
The Top of Mind Podcast is produced by Altos Research. Each week, Altos tracks every home for sale in the country – all the pricing, and all the changes in pricing – and synthesizes those analytics to make them available before becoming visible through traditional channels.
