Hello, my friends. And welcome to another episode of Passive Real Estate Investing. I'm your host Marco Santarelli well, you know, there's been a lot of talk about how the economy, interest rates, especially when they're going up and inflation. That is a, a big one. And it has been a topic of conversation for many, many months. As we know that inflation has reached 40 year highs and it's affecting everybody, it's affecting housing, it's affecting assets, it's affecting our purchasing power. And you know, it's an area of concern. So today we are gonna talk about all of those and maybe a little bit more with my guest, Dr. Frank, Nothaft, who is with core logic. They are one of the biggest data aggregators in the country in terms of the economy and housing. So it's an interesting conversation, but these are the types of things that I think you need to keep a third eye on.

You want to keep your radar focused on some of these things, because right now, a lot of this is tailwind for you as a real estate investor, but you always have to know when the tide shifts, because when that tailwind becomes headwind, that's when you need to start making some changes in your investment plans and maybe even your investment strap strategy. And certainly that's something that we can get into the weeds on, in a one-on-one conversation with my team, because it can become a little bit on the deep side, but also it's very custom to you. It really depends on your own personal situation in terms of your income strategy investments, your goals, what you're investing in, what you hold, et cetera, but any way without further ado, let us get to today's interview with our guest. And I hope you enjoy the show.

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Well, it is my honor today to welcome Dr. Frank Nothaft to the show. He is the chief economist for CoreLogic America's largest provider of advanced property and ownership information analytics and data enabled services. And I have to admit in full transparency. I am a client of one of their divisions. Dr. Frank does lead the economics team responsible for analysis, commentary, and forecasting in global real estate insurance and the mortgage markets. And with that, Frank, welcome to the show.

Hey, thanks for having me today, Marco. It's really my pleasure.

It's great having you on. And I was looking forward to this cuz I know the content you put out is always insightful, deep, informative, and I really enjoy your stuff for those listening on the audio, not the video here. I just want to comment and compliment on your tie purple is my favorite color and you've got a wonderful bow tie. That is beautiful. Purple. So I love it.

Oh no, thank you so much, Marco.

All right, well, let's dive in. So let me start with something a little more broad in scope. You know, we're around March of 2022, and you could say that we're about two years into this whole COVID mess. If you will. The thing with that is it's caused so many ripples in the economy. You know, there's been disruptions in supply chain, there's been migration changes, labor issues, and the list goes on and on, you know, and this is all outside of any health related issues and consequences. I'm wondering what you think the degree is that this is still impacting housing in the us and the economy in general.

Oh, it is still impacting the housing market. And we see that with the record level of home price growth and the migration of households that we've seen across the United States. That's actually been one of the more dramatic elements of a pandemic. And I'll give you an example. The census bureau just released its latest estimates on a population by state at the you know, through 2021. And what we saw was that during the first 15 months of the pandemic,