Rising rates and real estate, global edition
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 24 November 2022
⏱️ 28 minutes
🧾️ Download transcript
Summary
As central banks around the world raise interest rates to fight inflation, it’s taking a toll on real estate markets far and wide. Today, we’ll map out where housing markets are stalling and where they’re finding buyers. Plus, retailers cautiously mark down goods, a classic chair gets an eco-friendly redesign and a novelist charts how humans would respond to an environmental catastrophe.
Transcript
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| 0:00.0 | Tis the season of gratitude, you know, and I wanted to take a minute to thank our marketplace |
| 0:04.6 | investors. That is a community of listeners who've gone above and beyond to support our work |
| 0:09.2 | and to ensure that trustworthy news and information is available to all. And in a year like this one, |
| 0:15.3 | that means a lot. Each and every investor matters and makes a real difference here at marketplace. |
| 0:20.2 | So on behalf of all of us, thank you. |
| 0:22.6 | Discounts in a time of inflation, a look at the global housing market, and what can we learn about |
| 0:31.1 | our response to disasters from a novelist? From American public media, this is Marketplace. |
| 0:38.2 | In Baltimore, I'm Amy Scott in Forkai Ristall. It's Thursday, November 24th. Good to have you with us. |
| 0:52.8 | What a difference a year can make in the retail economy. Last Thanksgiving, supply chains were |
| 0:59.2 | congested. There were almost 60 container ships backed up at the ports of LA and Long Beach. |
| 1:05.2 | And retailers had trouble stocking up to meet demand. Well, today, port traffic is moving fine, |
| 1:11.8 | and retailers have too much inventory. We're going to dwell on that last point a bit because this |
| 1:18.2 | is a big holiday shopping weekend, after all. We've been hearing for a while about how stores are |
| 1:23.3 | offering steep discounts to try to reduce some of the stockpile they built up during the pandemic. |
| 1:29.1 | But figuring out how much to mark down a product can be tricky. Marketplaces Justin Ho |
| 1:34.5 | has that story. Markdowns aren't exactly ideal for retailers. Discounts hurt profit margins |
| 1:40.6 | at a time when retailers costs are rising. And if they cut prices too often, consumers might stop |
| 1:45.8 | buying at regular prices, says Christina Boni at Moody's. You don't want to train your customer |
| 1:51.6 | to continually expect promotions. Retailers can prevent that by offering promotions that only |
| 1:57.4 | happen, say, once a year, like a Black Friday sale. Barbara Khan is a professor of marketing at the |
| 2:02.8 | Wharton School. That's one way to clear out inventory and reduce price. But it does seem like |
| 2:09.6 | it's not the real price. It's only here for a special period of time. But if those discounts |
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