Steve Brown
Showing 1–2 of 2 transcripts.
- Milken Institute57 min
Credit Markets: New Risks, New Game Plan | Global Conference 2024
Staci Warden, Steve Brown, Jean Hsu, Jeff Meli, Meghan Neenan
Barclays Global Research forecasts a soft landing for the U.S. economy, driven by substantial federal deficits and structural shifts that mitigate the recessionary impact of the Federal Reserve's 11 interest rate hikes. Amidst this environment, corporate issuance remains robust at nearly $1.5 trillion annually as issuers navigate higher borrowing costs by migrating from public to private credit markets for flexibility and capital structure optimization. While sectors like commercial real estate face significant distress due to capital mismatches, the broader credit landscape benefits from private capital's stabilizing long-term nature and a predicted coexistence between public and private lending ecosystems.
- Milken Institute59 min
Real Estate: Housing Builds a New Foundation
Rick Newman, Stan Humphreys, Jeffrey Gundlach, Larry Mizell, Jed Kalko, Steve Brown
A recent industry analysis details a housing market characterized by declining sales volumes, stagnant household formation, and severe affordability strains driven by high mortgage rates and restrictive lending standards. Experts such as Jeffrey Gundlach and Larry Mizell describe a secular shift from an investor-led recovery toward a "renter phase," where supply constraints in major urban hubs and demographic changes limit new home starts to cyclical lows. While future forecasts predict a slowdown in price appreciation to around 3%, the sector faces complex pressures from rising interest rates, potential GSE reform, and a long-term transition away from traditional single-family homeownership among younger cohorts.