Former Chairman of the Council of Economic Advisers Kevin Hassett discusses inflation and the real estate market.
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Let all the investors get the homes…then let the market crash so they can get more…
In other news:" this time is diffrent"
Wait until credit card interest rates skyrocket for those with high debt
There’s a lot of first time buyers chomping at the bit hoping and waiting to buy.
The problem with that is that there’s still a lot of investors with big capital waiting to buy even more. It’s not about the price of the house… it’s about the cashflow.
The recession is definitely going to affect home prices, however, Real Estate rarely reacts significantly within 2 or 3 quarters. What we're seeing now is the rising of the interest rates that is preventing buyers that are marginal from affording their first time home…that is an unfortunate event. Prices are still holding for the time being…but what we believe lenders are doing is they are acting very conservatively with appraisals and terms that may be harmful to the buyers (such as waiving appraisals and inspections). The waves that we've tracked over 30 years originate from the West Coast down to Florida and then up the eastern seaboard. More expensive and vacation homes will be affected first, high-end spot builders and small-time investors will suffer as anyone who is currently utilizing home equity loans.
It’s different this time there’s shortage of products prices will remain or increase
Larry Summers by GOD I hadn't seen you sence that shooting In California THE music something awards I believe how you been doing. Your self man?
The housing market was still hot here last November past thanksgiving, & it’s just now barely starting to pick up from the winter hangover. So late to bed, & suddenly very slow to rise.
Buy puts on TLT
Pay close attention financial advisors and news commentators. Start talking up the real estate crash and it will be.
I'm still waiting for those millions of homes that didn't get paid for during the COVID debacle to be foreclosed on.
If you raise the interest rate what happens to our national debt?
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When will the media start following the embezzlement of the political figures that create projects outside the USA so they can get kick backs from agents in other countries that they are in bed with. The game is to create chaos for distraction and then get our tax dollars out of this country so politicians can steal it and have it funneled into their bank accounts!
They forgot to mention black Rock buying up family homes 20 30% over spot price. Remember you will own nothing and be happy?
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This is just the beginning.
✔️Mortgage rates have already crossed 5% and will touch 6-7% by summer.
✔️Buyers who pre qualified at 3% are no longer qualified during closing now with 5% Mortgage rates leading to CANCELLED CONTRACTS in spring/summer.
✔️Foreclosure stopped for last 2 years will start hitting the market.
✔️New construction supply will start hitting the market at the same time
✔️The wallstreet ibuyers will start dumping their real estate purchases once they realize there is no more price appreciation left.
✔️It takes just 1 house on the street to sell at 10-20% below asking to start the trend and pull values for the remaining "comps".
A crash is inevitable.
Do your part and vote democrats out nationwide
Finally some truth! But glossed over terrible banking numbers and dollar collapse!
Despite the economic crisis, this is a good time to invest Dogecoin, bitcoin and forex.
What it the fed prints more money and then Biden gives it to everybody won’t that fix the problem
Refreshing to hear the truth
Shoot still waiting on my section 8 housing app.
never seen so happy to be on the air and talkig about the downfall of our economy.
And my kids are the future
Hey realtors Taco bell is hiring.
I love in an area of Colorado that most of this entire area the homes sit empty as second homes. I do not know how they can afford it. On top of it they chase out the people who need and want to live in the community year round.