Strome Business Minute With Dr. Jeff Tanner

Don’t underestimate the power of consumer sentiment. When consumers as a group view the economic future as positive, we spend more, which then becomes a self-fulfilling prophecy as that spending then drives the economy forward. Flip that, and when we think the future is bleak, we spend less, and the economy suffers. A study just released by Roanoke College says Virginia consumers believe the housing market will be good this year but the numbers are down slightly from last summer. The index shot up last spring and then slowly declined but are still very positive, whether from a buyer’s or seller’s point of view. While better than a year ago, the index is still below the highs of 2014 and 2015. To learn more, visit odu.edu/business. This Strome Business Minute is presented by the Strome College of Business at Old Dominion University.