Whether the housing market is booming or struggling, everyone wants the answer to the same question: What will happen next? An expert in economics, Mischa Fisher serves as chief economist for Angi (formerly Angie's List). He leads market research that includes the ever-important consumer spending behavior, labor market dynamics and residential housing trends.
"Everyone knows that it's been a boom year for the entire housing sector and all the sectors related to it," Fisher said. "There are a couple of things driving it."
A few quick takeaways from Fisher's interview on industry drivers and trends at the International Roofing Expo include:
- On the residential side, two significant factors are driving the current housing market: demographics and the gain in home equity.
- Commercially, new construction on buildings located outside of the city center, as well as distribution centers, is booming.
- The influx of new homeowners, whether in new or existing homes, heavily shapes consumer spending behavior.
- Trends to be on the lookout for include product diversification and the continuation of a tight labor market.