With gas prices rising to sky-high levels and mortgage rates not slowing down anytime soon, United States citizens are really feeling a financial crunch as of late. And based on a new report from Deutsche Bank, that isn’t slowing down anytime soon.
In a huge report given to clients, the Bank’s economists noted, “Two shocks in recent months, the war in Ukraine and the build-up of momentum in elevated U.S. and European inflation, have caused us to revise down our forecast for global growth significantly.” As a result, “we are now projecting a recession in the United States.”
The report also noted that “equity markets” should “hold up well through the summer,” but stock prices could become unpredictable beyond that—especially if prices continue to be on the rise as they are now.
Blake Harbin, who serves as CEO for mortgage lender Houzzle Financial (HOW-zul), is here to provide his expertise on the matter. We welcome him to the show.
- First off, mortgage rates continue to skyrocket as the year goes on, and 2023 isn’t looking any easier. Would you say this is due to a lack of balance with supply and demand, or something else?
- Where do you see gas prices going over the next few months? Do you think there’s a possibility they could reach $5 a gallon nationwide at some point? Or worse?
- How do you think the possibility of a recession will affect U.S. citizens? Do you believe they’ll be struggling worse than they have been with COVID over the past couple of years?
- What do you think Washington can do to quell the fears of a recession? We’re aware the Federal Reserve has attempted to make improvements, but we haven’t heard too much about progress.
- Finally, what advice would you give Americans when it comes to preparing for a recession?
Blake Harbin is the CEO of Houzzle Financial, a mortgage lending company in the Southeast. He has been a small business owner for more than two decades and is an expert in the real estate industry. Blake is running as a candidate for Georgia’s 6th congressional district in 2022.
CONTACT: To schedule an interview with Blake Harbin, contact Celinda Hawkins at (432) 349 – 2736 (jerry.specialguests@gmail.com) or Tamara Colbert at 626-244-5571 (tamara@ohsweetliberty.com).
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