As we talk about #inflation and the next moves from the #Fed, this has to be front and center. Yes, this is a three-month moving average going back to December, when rates were lower, but prices are still heating up in much of the country due to low supply and strong demand. There are some pockets starting to cool, but not a lot. The big winners here are the #homebuilders, who can buy down #mortgagerates and offer other incentives. #TMH #LEN #DHI #PHM #realestate #realestateinvesting #housing #federalreserve S&P Global Brian Luke, CFA
Scott Smith
2mo
3% mortgages will act like rent control for decades, benefitting the homeowners. Housing shortage will exacerbate. Where are the big policy solutions?
James Deskins
2mo
The builders are definitely the big winners here (Ohio). Prices have skyrocketed. Builders are part of the problem, I believe. That being said, as we've heard over and over again, the people who have 3% interest rates have no motivation to sell, unless they can pay cash for their next home. Until interest rates drop to something that potential sellers consider "affordable," people like me won't enter the market.
Hank Miller, SRA
2mo
You and your cohorts in the MSM stuck to the talking points pronouncing inflation dead, the economy wonderful and the Fed dropping rates...guess the truth got in the way. Many buyers sat gaslighted, waiting for rate drops that were never to happen - now they scramble. Experts... 😂
Andrew Belcher
2mo
Hi Diana. Lennar is a garbage homebuilder and my community out here in southern California has issues with water intrusion, mold, improperly installed stucco, crooked walls and cabinets, improperly installed balcony railings, non-ADA compliant units and other issues. Would be great if you could come out and conduct some interviews with homeowners. You would be shocked. Plus it would really shine a light where Lennar does not want it shined. Lennar's conduct is a prime example of how multi-billion-dollar corporations put profits over people.
Ted Bernstein
2mo
This is a horrible trend for the overall housing market. Nothing good will come from unaffordable home prices, for most Americans.
Aaron Sams
2mo
Not in many parts of Arizona, prices are being reduced and some builders are reducing prices combined with great closing cost incentives along with other free options and or upgrades like free washer dryer fridge packages.
Mike Cush
2mo
I saw another article this morning about the slowdown in permits for multifamily which means there were be a slowdown in new multifamily in about 24 months.
Higher mortgage rates historically correlate with higher home prices. Most think that it works the opposite way.
.NET Architect (╯°□°)╯︵ ┻━┻
2moIf it isn't market manipulation when interest rates soar and huge swaths of the population can't afford to buy, yet prices continue to go up, then when is it market manipulation? Where is the money coming from? Why isn't supply meeting demand and natural market forces adjusting prices to meet consumers where they're at? All the signs of corruption are there, the precursors to another rug pull exist, and yet article after article encouraging owners to HODL and lenders to tighten up. Seems like someone with a lot of skin in the game might be trying to reduce inventory without causing a panic, and has a huge psy-ops budget...