The (Almost) Recession, Pursuit of Knowledge, and More – Los Angeles News
It’s Friday, ya’ll! Let’s dig into some positive Los Angeles news from the previous week. And for those that can, please donate to those who are being affected by the California wildfires.
The Housing Slump is Not (Yet) a Recession – Market Watch
UCLA Anderson School of Management Economist Ed Leamer, one of the largest voices in the housing market to share his concerns leading up to the 2008 recessions, was recently interview by Howard Gold at Market Watch, regarding a distinct slowdown in housing prices and the number of new homeowners.
“Of the 11 recessions since World War II, nine have been preceded by ‘substantial problems in housing and consumer durables,’ Leamer wrote in his 2007 research paper “Housing IS the Business Cycle.”
““If you look back to 1994 or so, you’ll see a period of time where it was pretty flat around 1.4 million units, up and down a little bit, but it was sustained for a long period of time at that level,” he continued. “If it got over 1.4 [million annually] you’ve got to start worrying about it” because it would be a sign of too much froth.”
Leamer continues, saying, “There’s no question in my mind that the housing sector’s going to be difficult over the next couple of years. The price appreciation is going to be a thing of the past. The higher interest rates are going to be a problem, and the change in the tax codes that affects several states is yet another source of problems.”
You can read more from Gold’s interview with Learner here.
Pursue Knowledge, Not Happiness, Advises Mihaylo Professor – Mihaylo News
Cal State Fullerton’s Mihaylo College of Business Marketing Professor Chiranjeev Kohli announced a forthcoming book that will address many of the pressing issues young MBAs face as they fully embrace adulthood—from the practical to the more elevated, such as harnessing willpower and discipline, and how to handle difficult relationships in the workplace.
Some of the guidelines Kohli sets forth are Investing: How to Attain Reasonable Success; Warranties: A Needed Security or a Wasteful Expense?; and Do Unto Others … Only if Others Treat You With Respect.
In his recent talk at the Pollak Library, Kohli poses the question, “What is the most important thing that we are trying to pursue in this life? If you say it is happiness, I disagree. The ultimate frontier is the search for truth or true knowledge … If you live by this, happiness will follow. But if you seek happiness, you may never find it.”
You can read more about Kohli’s book and more here.
David Offenberg, Associate Professor of Finance at LMU LA, received national recognition with the Financial Management Association’s (FMA) Innovation in Teaching Award.
The Association recognized Offenberg for his work in entertainment finance. His methodology, which combines the hard skills of modeling and the soft ‘people’ skills of communication, impressed the awards committee.
“The real gift of this award is that it allows me to show my peers a more effective way to teach financial modeling … It’s so exciting to know that courses will change and student outcomes will improve as faculty adopt my way of teaching,” says Offenberg.
First launched in 2014, the Entertainment Finance course made available to business students concepts that had been heretofore only available to film majors. Tom Sheppard, a former student of Offenberg’s, attests to the value of his guidance.
“I had virtually no connections in the film and television industry going into the course as a senior … [but] by the end of the semester, I had a job lined up at Lionsgate Entertainment—even before graduating. In my opinion, it’s the most valuable class [at] LMU’s business school.”
You can read more about Offenberg’s recognition here.