If You Feel Like We’re in a Recession, Listen to This w/Nicole Lapin

On The Market

BiggerPockets

News, Investing, Business, Education

4.8 • 820 Ratings

🗓️ 24 October 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Does it feel like we’re in a recession? People are constantly discussing layoffs, many Americans are in credit card debt, home ownership seems unachievable, and you probably feel like you should be making more money based on how expensive everything is. But, on the other hand, inflation is down, stocks are up, and unemployment is still (relatively) low. This is what Nicole Lapin would refer to not as a recession but a “vibecession;” it feels like we’re in a recession, even if we aren’t. As a renowned journalist, author, and money-minded podcast host of Money Rehab, Nicole is one of the best in the industry to come on and explain the state of the American consumer, why they feel so negative toward the economy, and what good news we have going into 2025. Nicole is breaking down exactly why Americans feel so disconnected from our growing economy and the reason consumers are getting frustrated. But it’s not just bad vibes (okay, enough with the Gen-Z verbiage); there are “bright spots” in the economy that few are paying attention to. These data points come close to proving that we may be out of recession territory and confirm that the Fed did achieve its “soft landing.” Are we on our way to finally feeling good about the economy again? In This Episode We Cover Why it feels like we’re in a recession even though the economy is growing The disconnect between men and women and who’s more optimistic in 2024 Did the Fed actually achieve their soft landing and an inflation rate update The good news on wage growth (with a BIG caveat) Rising credit card debt and whether or not this is a precursor to economic crisis The “bright spots” in the economy that point to some good news for Americans And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Find an Investor-Friendly Agent in Your Area Dave's BiggerPockets Profile Here’s What the U.S. Consumer Tells Us About the State of the Economy Money Rehab Thinking, Fast and Slow WSJ: The State of America’s Wallet Build Wealth in Any Market Cycle with “Recession-Proof Real Estate Investing” Jump to topic: (00:00) Intro (01:50) Welcome to the "Vibe-cession" (05:18) Men vs. Women Economic Sentiment (06:59) Wages Grow, But... (10:56) Consumer Debt is Climbing (16:23) GOOD News for the Economy (18:42) Hope for Average Americans (21:39) Where is the Economy Headed? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-263 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	So it's a bright-ish spot. Is that where we are, Dave? Like, no news is good news.
0:05.3	We're reviewing the economy in the same way as we write Yelp reviews now.
0:14.7	Hey, friends, it's Dave. Welcome to On the Market. Today, we're going to be talking about what's going on with the average American
0:22.7	consumer's wallet right now and what it tells us about America's economic present and
0:28.4	the future.
0:29.6	And to help us with this conversation, we're bringing on a special guest, Nicole Lapin,
0:34.8	who's a financial expert and New York Times bestselling author. She's got this
0:39.9	incredible background in journalism as an anchor on a bunch of major networks like CNBC, CNN, and
0:46.7	Bloomberg. She's appeared as a correspondent on Morning Joe and the Today Show, and she has a great
0:53.0	podcast called Money Rehab that you can check out.
0:55.8	And also, she's just really good at getting to the heart of things and sort of like
0:59.0	distilling from all of the data and information that we are all bombarded with every single
1:03.5	day and just narrowing down to the story behind the story.
1:08.4	In my conversation with Nicole, we're actually going to be referencing and sort of
1:12.1	using the framework of this Wall Street Journal article about the state of the American
1:16.6	wallet. We actually mentioned this a couple weeks ago on the headline show. That was a very
1:21.7	popular show. And so we decided to just dig deeper into the details of this to help you all
1:26.6	understand what's going on with the
1:28.4	American consumer. And I think as a real estate investor or as a real estate service provider and
1:34.1	agent, it is really helpful to know what your clients or perhaps your tenants are going through
1:39.7	or you might yourself might be going through to help make sense of the broader picture and help you make informed investing and financial decisions.
1:48.6	So with that, let's bring on Nicole.
	...

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