RESI in the News
How a Trade War with China Could Impact the Greater D.C. Region
MAMU 88.5, 04/06/2018
A trade war with China could significantly impact the greater Washington region due to imported goods from China through the ports in Baltimore and Norfolk. According to RESI's Chief Economist Dr. Daraius Irani, consumers will see higher prices because "costs are going to be partially absorbed by the companies and then on to the consumer." Dr. Irani also notes that, "Tariffs are not a good tool to achieve [President Trump's] objective, which is to limit the intellectual property issues that China may be pursuing. This is akin to using a sledgehammer to put a picture up on the wall. Tariffs could have the potential of having a severe dislocating effect for our economy, and actually cause the economy to slow down and perhaps even enter into a period of negative growth."
Women in Md. Earn 84 Cents for Every Dollar Men Earn, Study Says
The Baltimore Sun, 10/09/2018
A new study has found that women in the state of Maryland typically get paid 84 cents for every dollar paid to men, a slight gap increase of one cent since a previous 2016 evaluation. RESI's Chief Economist Dr. Daraius Irani stated, "it's concerning overall that we're seeing persistent wage gaps in spite of heightened awareness of it," and that "we need to do a better job as a state and society to ensure women are paid the same for the same job." Dr. Irani also mentions that it looks like the wage gap is "going the wrong way and will be interesting to see what the next couple of years bring."
Home Prices Continue Upward Trend in March as Sales Falter
The Baltimore Sun, 04/10/2018
Home prices continue to grow in March even as the number of sales are dropping. RESI's Chief Economist Dr. Daraius Irani stated the market could just be settling into its "natural level" after the pre-recession period. According to Dr. Irani, "People also aren't moving as much. They aren't as desirous of moving to the next bigger home or they can't move to the next home because they can't sell their house to get a down payment large enough to buy the next bigger home." He also noted that, "A decade ago people were buying homes for the sake of flipping it, and that was eliminated by the downturn."