"There are areas of disagreement, and I think that's great"
Complex economic and housing data can be hard to digest. Stressed and overwhelmed, consumers would rather shut out the noise, even if that means missing out on crucial information that could help them make better decisions. But economists like Odeta Kushi are asking people to reconsider.
Kushi, deputy chief economist for First American Financial, joined Mortgage Professional America in an edition of MPA TV to talk about her job and how she leverages social media to reach a wider audience.
“I think communicating a complicated economic concept in a way that is understandable to a general public is absolutely part of my job,” Kushi said. “Ultimately, economics is a social science. We’re trying to study people’s behavior and how consumers make decisions. And so, I think it’s absolutely crucial that people understand kind of the message and the takeaways from all of that poring over data that we do.”
Every now and then, non-experts will throw in their opinions, making the data even more confusing. But instead of being irritated, Kushi finds it “necessary.”
“I think we all have a role. I spend all day looking at data and then try to communicate it. But economists can be wrong as well,” she said. “There are all sorts of differing opinions in the economics world, specifically in housing economics. You can see that in the array of forecasts that we provide every quarter. And so, I think there’s a lot of room for everyone to be involved in the discussion.”
“You can see it in the wide range of forecasts in the industry,” Kushi added. “There seems to be agreement on some key issues. I think everyone’s mostly everyone’s pretty aligned on the fact that we’re facing a supply shortage in the housing industry just from looking at the data that’s available.
“But certainly, there are areas of disagreement, and I think that’s great. It opens up the opportunity for healthy debate and academic debate. And I think that’s really good. That’s where good ideas come from.”
You can watch Kushi’s full interview here: What’s the verdict on adjustable rate mortgages?
