Delivering Global Macro Investment Insights

DeSaque Macro Research

DeSaque Macro Research Limited was formed by Said DeSaque in April 2012 with the view to delivering global macro investment insights aimed at providing new ideas to clients.

Said DeSaque has over 26 years of experience working as a professional economist in financial services. Prior to establishing DeSaque Macro Research, Said held positions as Senior Economist at Robert W Baird and William Blair. He began his career as a graduate at PaineWebber in 1986, where he eventually became Head of the London Economics Department.

Said takes a very keen interest in international relations, along with their implications for economic development. His research interests include the economic transformation of China and its implications for global capital markets, particularly in the United States. He is a member of Chatham House in London.

The US economy and capital markets have historically been Said’s main focus of attention. He frequently presents his views to institutional investors in diverse geographic locations. In recent years, Said has also been carefully monitoring economic developments in Asia, particularly China and Japan.

Global Economist, DeSaque Macro Research

Said Desaque

Global Economist

Macroeconomics

<ul>
<li>Falling mortgage rates during 2025 have imparted a limited impact on housing activity.  Rates are higher than recent historic lows,  blunting channels through which lower mortgage rates benefit economic activity.</li>
<li>Poor affordability has been a headwind for housing in recent years., particularly since 2022. Rising home prices have made renting more affordable, notwithstanding supply shortages of desired housing stock.</li>
<li>Rising numbers of smaller households have boosted demand for smaller properties, but developers have been slow to respond to the shift by retaining a trading-up strategy in core urban areas.</li>
</ul>


Falling mortgage rates during 2025 have imparted a limited impact on housing activity.  Rates are higher than recent historic lows,  blunting channels through which lower mortgage rates benefit economic activity.
Poor affordability has been a headwind for housing in recent years., particularly since 2022. Rising home prices have made renting more affordable, notwithstanding supply shortages of desired housing stock.
Rising numbers of smaller households have boosted demand for smaller properties, but developers have been slow to respond to the shift by retaining a trading-up strategy in core urban areas.


Poor Affordability and Structural Issues Take Their Toll on US Housing