Why the shopping line you’re not in always moves faster

The recent softness in residential construction is largely due to mortgage interest rates of nearly 7%, making homes less affordable for buyers, with permits for new home construction falling 3.7% from the previous period.

Inflation remains elevated and economic growth expectations are subdued

As we look back at our best and worst calls of 2022, it’s clear that we got more correct than not. However, I wish we were more emphatic about some of them.