P O I N T- O F-V I E W
ON A HIGH
STATE OF INFLATION The cost of goods keeps rising and there are lots of questions asking why. But the simplest explanation is because of long-term demographic shifts. The U.S., like many other countries, simply doesn’t have enough workers to make and move all the things that people want to buy and companies had to raise wages—and, thus, prices to attract available workers.
Since its founding in 2020, High Point x Design (HPxD), a collective of 50 branded showrooms and two shopping districts, is working to reimagine High Point, NC, as a yearround hub for design and creativity. It has recently announced its first managing director, Jane Dagmi. Prior to joining HPxD, Dagmi was editor-inchief of the trade publication Designers Today. She has spent nearly 30 years reporting and collaborating with the home furnishing and interior design industries. Up until now, HPxD flourished as a grassroots organization, but with Dagmi leading the charge, the hope is to move the collective and its efforts forward purposefully. » Hpxd.org
AWE IN COSTS
There are 11 million job openings in the U.S. economy right now, yet there are only 6.5 million people who are unemployed. And, according to Ron Hetrick, senior economist at Burning Glass, a labor market data and analytics company, the gaps in the supply chain are because people aren’t there to make the goods. States like Maine, New Hampshire and West Virginia are already “super-aged,” meaning that 20% of the population is 65 or older. The entire U.S. population will be super-aged by 2028, estimates Olu Sonola, head of regional economics at Fitch Ratings. Economists thought that boomers—those born between 1946 and 1964—would stay in the labor market for longer. But boomers’ homes have gotten more valuable and their stock market portfolios have grown over the last few years, so when the pandemic hit, they decided to retire. More than half of the 5 million people who dropped out of the labor force since 2020 are 55 or older. And, according to a recent survey from the Federal Reserve Bank of New York, the average expected likelihood of working beyond age 62 declined to a new low of 49.3%. The problem with demographic-driven inflation is that it’s not going away anytime soon. Last year, the U.S. population grew at 0.1%, its slowest rate since the nation’s founding, according to the census. And the fertility rate continues to decline. By 2034, older adults will outnumber children for the first time in U.S. history. Meanwhile, U.S. consumers are spending as if nothing has changed, keeping demand for goods and services high. The most obvious effect of this demographic shift is on their pocketbooks.
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MAY + JUNE 2022 | wf-vision.com
TOURS ON THE TUBE The new weekly video series Designer Home Tours has debuted on YouTube. It provides viewers with an inside look at the homes of interior designers along with their recent client projects. The series is spearheaded by Laura Bindloss, the founder of the New Yorkbased public relations and social media agency Nylon Consulting. The first video in the series features designer Liz Caan and upcoming episodes will draw attention to the talents of Zoe Feldman, Robert Passal and Bella Mancini. » YouTube.com
The Professional Awning Manufacturers Association (PAMA) found in a 50-city study that awnings significantly reduce cooling costs in the U.S. Window awnings are shown to reduce solar heat gain by 65% to 77%. The PAMA study also showed that awnings may reduce annual cooling energy by more than 25% compared to homes with completely unshaded windows. This can amount to an energy savings of $200 or more. » Awnings.IFAI.com
HOME SMARTS According to a recent survey conducted by Designers Today, when it comes to incorporating smart home applications into projects, window coverings topped the lists of both the smart home products in which clients are interested (63.3%) and those actually added to a project in the past year (51.7%). The other smart home products that were among the top five on both lists included thermostats, lighting and security. » DesignersToday.com V
