Daryl Fairweather, PhD | Chief Economist
@FairweatherPhD • 24,465 subscribers
Chief economist @Redfin🏡, author of HATE THE GAME📕 @UChicagoPress, @Forbes contributor ✍🏽, Mama👦🏽👧🏽, Funkateer🛸🎶, @UChicago & @MIT alum
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Many economists doubted AI until it hit their workflows. Now, tools like Claude Code do weeks of analysis in hours. As analysis becomes cheap, the real value shifts to novel ideas and gathering unique, proprietary data. (Video inspired by #econtwitter)
Daryl Fairweather, PhD | Chief Economist44,432 görüntüleme • 5 ay önce
The expiring Affordable Care Act subsidies have me worried about more than just healthcare—I'm concerned about the housing market. 🏠🏥 Before becoming Redfin's chief economist, my first job in economics was at the Boston Fed in 2009, at the height of the foreclosure crisis. My task was to call homeowners facing foreclosure and ask survey questions about how they ended up in that situation. The answer I heard most often was they had an unexpected medical expense. Without affordable insurance, a sudden illness forced families to choose between their health and their mortgage. Harvard researchers backed this up, finding that nearly half of foreclosures at the time were linked to medical issues. If ACA subsidies expire, we risk returning to that reality. Families could face skyrocketing premiums or go uninsured entirely. When a medical emergency strikes, the out-of-pocket costs can be devastating—draining the funds needed to keep a roof over their heads. When healthcare isn't affordable, people have less money left over for other necessary expenses, like housing. Let's hope we find a way to keep healthcare affordable for Americans.
Daryl Fairweather, PhD | Chief Economist17,442 görüntüleme • 7 ay önce
Why Redfin is keeping climate risk data (even if others aren't). There is a divide forming in the real estate world regarding data transparency. Recently, Zillow removed climate risk data following pressure from agents concerned about impact on home values. At Redfin, we took a different path. We decided to keep displaying climate risk data. Why? Because homebuyers find climate risk scores valuable when making one of the most important financial decisions of their lives. In 2020, we ran a massive experiment with 17.5 million users. We displayed flood risk data provided by First Street to half the audience. The result was undeniable: Among users looking at severely or extremely flood-risky homes, those who saw the risk scores made offers on homes with 50% less risk than those who didn’t. Information drives decision-making. Is the current data perfect? No. We don't know exactly how fast climate change will progress or how local governments will adapt. But the First Street methodology is peer reviewed and validated by experts. Climate risk scores are only one piece of information regarding the costs of climate change for homebuyers. Ideally, we would provide actual insurance cost data alongside these risk scores. However, without disclosure requirements, buyers often don't learn the cost of insuring a home until after they’ve made an offer. Until insurance transparency improves, we are committed to providing the best available climate risk data so buyers can make informed decisions when choosing a home.
Daryl Fairweather, PhD | Chief Economist14,962 görüntüleme • 7 ay önce
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