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Want more housing market stories from Lance Lamberts ResiClub in your inbox? Subscribe to the ResiClub newsletter. Economic forecasting has never been an easy task, and it becomes even more challenging when confronted with unprecedented economic events like COVID-19 lockdowns and unparalleled levels of government intervention, followed by a rapid cycle of interest rate hikes. Look no further than recent mortgage rate forecasts. Last year marked the third year in a row that mortgage rates ended the year higher than forecasters expected. Will they finally get it right this year? ResiClubs latest roundup of quarterly mortgage rate forecasts shows that most forecasters still expect mortgage rates to gradually decrease over the next 18 months. The average 30-year fixed mortgage rate as of Thursday was 6.96%. By the final quarter of 2025, Fannie Mae expects that to slide to 6.6%. Meanwhile, Wells Fargos model expects 6.5%, and the Mortgage Bankers Association estimates 6.5%. But even if those forecasts are right, it would mean that housing affordability would still remain strained in 2025 and 2026.
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E-Commerce
Police in Munich are investigating a mystery: More than 1,000 stickers were put on gravestones and wooden crosses at three cemeteries in the German city, without any indication of where they came from or why. The 5×3.5-centimeter (1.95×1.2-inch) stickers are printed with a QR code, that, when scanned, shows the name of the person buried in the grave and its location in the cemetery but nothing else. We haven’t found any pattern behind this yet. The stickers were put both on decades-old gravestones and very new graves that so far only have a wooden cross, police spokesperson Christian Drexler told The Associated Press on Wednesday. People who have witnessed anybody putting the stickers on the graves are asked to reach out to the respective cemetery’s administration,” Drexler said. The stickers surfaced in recent days at the Waldfriedhof, Sendlinger Friedhof and Friedhof Solln cemeteries. Police are not only trying to find out who is behind the stickers, but are also investigating property damage, because the gravestones were partially damaged and discolored when the stickers were removed.
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E-Commerce
National Leadership Day, which takes place every Feb. 20, offers a chance to reflect on what truly defines leadership not just strategy or decision-making, but the ability to build trust. In an era of rapid change, when teams look to leaders for stability and direction, trust is the invisible currency that fuels organizational success. As an economist, I know theres a lot of research proving this point. Ive conducted some myself, including work on how trust is essential for leaders in cross-cultural business environments. In an expansive study of Chinas fast-paced restaurant industry, my colleagues and I found that leaders who cultivate trust can significantly reduce employee churn and improve organizational performance. While my study focuses on one sector, its lessons extend far beyond that. It offers insights for leaders in any field, from corporate executives to community organizers. Understanding the impact In China, as in the U.S., the restaurant industry is known for high turnover rates and cutthroat competition. But our study found that managers who demonstrate trustworthiness can keep employees from fleeing to rivals, creating a more stable and committed workforce. First, we conducted a field experiment in which we asked managers at around 115 restaurants how much money they were willing to send to employees in an investment game an indicator of trust. We then found that for every 10% increase in managers trust-driven actions, employee turnover fell by 3.7 percentage points. Thats a testament to the power of trust in the workplace. When managers are trustworthy, workers tend to be more loyal, engaged in their job and productive. Employees who perceive their managers as trustworthy report higher job satisfaction and are more willing to exert extra effort, which directly benefits the organization. We also found that when employees trust one another, managers get better performance evaluations. That makes sense, since trust fosters improved cooperation and innovation across the board. Practical steps to foster trust Fortunately for managers and workers theres a lot of research into how to be a more trustworthy leader. Here are a few insights: Empower your team. Let employees take ownership of their responsibilities and make decisions within their roles. This not only boosts their engagement but also aligns their objectives with the broader goals of the organization. Empowerment is a key strategy in building trust. Be fair and transparent. Managers should strive to be consistent in their actions, address concerns promptly and distribute rewards equitably. Those practices can create a psychologically safe and supportive work environment. Promote collaboration. Encourage an atmosphere in which employees can openly share ideas and support one another. Activities that promote team cohesion and open communication can significantly enhance trust within the team. Measure and manage trust. Implementing regular surveys or feedback sessions can help assess and manage trust levels within an organization. Consider integrating trust metrics into performance evaluations to emphasize their importance. Some takeaways for National Leadership Day Whether helming a business, a nonprofit or a local community initiative, leaders should recognize that being trustworthy isnt just a soft skill. Its a measurable force that drives success. By making trust-building a deliberate goal, leaders can create stronger, more resilient teams. So this National Leadership Day is a good time to reflect: How do you build trust in your leadership? And how can you foster a culture of trustworthiness? Managers should commit to leading with trust, acting with integrity and fostering workplaces where people feel valued and empowered. The impact will speak for itself. Yufei Ren is an associate professor of economics at the Labovitz School of Business and Economics at the University of Minnesota Duluth. This article is republished from The Conversation under a Creative Commons license. Read the original article.
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E-Commerce
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