Bright MLS Chief Economist Lisa Sturtevant joined ‘The Big Money Show’ to discuss rising mortgage rates as demand sinks to a 28-year-low. #foxbusiness
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For everyone saying wait for interest rates to fall. Go ahead and when they do there will be a mad rush into the market causing another 2021 explosion, because everyone will be doing the same thing. People are saving money now waiting for a price or rate crash. When rates go back down you won’t be able to buy a home due to the demand. It’s messed up either way.
Fed is screwing up this nation. Unless the Mortgage rates come down, nothing going to fix. The inventory issue is a result of the high mortgage rate. Do they not understand that.. Once the Rate goes down, it will take another 6 months for the inventory to come up to a normal level. Fed is just not applying any thoughts. Just following some old technique that worked in 80s is not going to work in 2023. There is hardly any desired changes due to the rate hike. All changes are undesired and harmful to the nation.
Thanks for keeping us informed. I feel sympathy and empathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot with your advice imagine I invested $2,000 and received $11,200 with the help of Ms Flury Megyn.🇺🇲🇺🇲
If you can afford to hold out, do so. Not worth these high prices and crazy interest rates.
11% is now a possibility with Student loan forgiveness
We looked hard for four mths wound up buying new construction in a rural area. Not our first pick but a great option n happy we did so! Find a realtor that will keep ur options open. If u want to own consider varies builds/areas.
7.5% is crazy.
Over a decade of the Fed supressing rates has forced the end of the American dream to own a home because it has driven costs up so high due to people and companies 'investing' in multiple homes, leaving those of us who would actually like to LIVE in one stuck in a dinky apartment (with our 28-year-old daughter still living with us too because she can't even afford her own apartment right now).
Last price downturn was over five years (peak to trough). Gulp ! Don't expect your friendly , commission-based realtor to care about you. It's all about them. Always has been. Now it's payback time …….
Anyone working 40 hours a week deserves a roof over their head.
If interest rates come down next year, then inventory will go up as well. More people will be willing to sell if rates are dropping.
What we need is deregulation in the local governments with regards to red tape and programs that encourage “owner builders”.
We lack inventory, we lack affordable labor, we lack reasonably priced homes as builders focus on “luxury” with higher margins.
Remember in the past where family and friends had semi incomplete home’s where they were picking away at it as funds allowed?
Create owner builder programs that can get owners into a livable home (path to CO certificate of occupancy), and they can finish over the next 2, 5, 10 years as funds and education allow.
We have this awesome platform of YouTube which is the ultimate teacher and spreader of knowledge. People are sponges and love to learn.
Young people are great learners with technology. We need to bridge that with a clear step by step path to build a owner built home. I really see it as one of the only decent ways to get the next generation into home ownership.
Blackrock continues to buy up properties in bulk, so Americans can prepare to "Own Nothing".
Blackrock, Vanguard and China. Blame them for this problem.
I dont even know why someone would sign a 30 year mortgage on over price housing. With a poor economy and leadership. Crazy move some of the longer roads in pa and jersey have tons of houses for sale.
Everything goes up and pay stays the same 😂
Why spend a fortune for a stick built house? Houses in USA are no longer being built solid. Buy land , build your own
Double digit interest rates incoming.. The Worst is yet to come
Another war in an energy-producing region could rekindle inflation
We try not to look to NAR for direction, markets are regional. First time home buyers are no longer able to buy for $ 450,000 (On Long Island NY) now they have to go up to $ 550/575k.
Never ever get an adjustable rate mortgage !!!!!!
😂 Don't do it! if you buy a house. Get a Prenup. Right about the time you have it paid off she'll take it from you….. Before you get your panties in a twist it's a fifty fifty chance… That's a fact!
So the fed starts the fire by endless printing, then they put part of the fire out while it still rages and we are supposed to trust them?
So this is why every nickel and dime landlord and two for a penny investors been calling me texting emailing letters in the mail wanting to buy buy my old house I paid off in 2019 and the chinese been calling but my house is a investment in me but they don’t know that I been saving all my mortgage payments and a lot more
This market went up like a rocket it will crash like a Chinese rocket into a populated area
Lisa Sturtevant is huffing glue…