Welcome to the FIA News & Insights, a one-stop resource that includes insights from senior investment professionals on timely market events, their views on the economy and their respective markets. Find updates on the latest media information on Frost Investment Advisors, LLC and the most recent reprints, as well as, archival information for your reference.
In another worrisome sign for the economy, the housing market is shifting. New construction plummeted, building permits fell more than expected and new home sales declined, Forbes magazine reported last week.
The Fed’s rate hike is “likely to accelerate the slowing of the housing market” and result in construction job reductions, Texas-based Frost Investment Advisors chief investment officer Mace McCain told Forbes. “We’ll be watching job openings and layoffs closely as the Fed continues to tighten into a slowing economy.”
Excerpted from Forbes on June 21, 2022. To read full article, click here.
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