Housing Market Reverses Gains as Sentiment Reaches 70-Year Low
About this episode
The episode discusses the current state of the housing market amidst rising inflation and consumer sentiment at a 70-year low.
This could have profound effects on the housing market, and if you work or invest in real estate, you need to know what's coming next. Energy shocks, high inflation, new job numbers, the worst consumer sentiment in 70 years…it’s all hitting us in a single week, and the housing market is already reacting. After months of affordability gains, mortgage rates jumped back to 6.4% in response to the oil price spike and, by proxy, high inflation readings. The Fed has already made the bulk of its rate cuts, so is there any room left for interest rates to go down? Home sales are already slowing, and consumers are feeling the worst about the economy in 70 years. This will impact the housing market, and it’s not good news for agents, brokers, lenders, or anyone involved in transactions. But for investors, we’re being given yet another opportunity to buy deals…and the discounts could be getting deeper. The window to act is widening even more. Here's how to position yourself before it closes. In This Episode We Cover New inflation rate readings and why the CPI rose close to 1% in just a month Mortgage rates are stuck: why they can’t fall much more, even with a new Fed chair Latest home sales…
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