No Mercy / No Malice: 2024 Predictions

Housing Trends

The housing market is poised for significant changes in 2024, driven by shifts in interest rates and economic factors. Scott Galloway highlights that the Federal Reserve's decision to potentially cut rates will lead to a boom in housing sales volume. This is due to a combination of factors including low interest rates on existing mortgages, longer life spans, and restricted new construction 1.

Housing in America over the past four decades has been a proxy for economic policies writ large.

--- Scott Galloway

Galloway predicts that these dynamics will result in a significant transfer of wealth from younger to older generations, as home ownership becomes increasingly concentrated among older individuals 1.

   

Economic Influences

Inflation and AI are expected to play crucial roles in shaping the economy in 2024. Scott Galloway notes that inflation has decreased from 9% to 3% over the past year, and this downward trend is likely to continue 1. He attributes this to the deflationary effects of AI, which enables firms to operate more efficiently.

I believe AI, like most technologies, is deflationary, as it helps firms do more with less.

--- Scott Galloway

Additionally, the easing of supply chain issues and strategic decisions by the Federal Reserve are contributing to this economic shift 1.