I hope everyone is having a happy holiday season. Before getting into my predictions for next year, there are three crucial factors to discuss that will shape the real estate market in 2023 and beyond: Interest rates, inflation, and consumer…
The prevailing theory is that this real estate cycle will be considerably better than others as so many people locked in rock bottom rates which will serve as “golden handcuffs” and prevent a meaningful increase in inventory. How accurate is…
It will get much worse for the housing market and the mortgage industry. That’s the takeaway from a group of economists at Fannie Mae who slashed their forecast for 2022 home sales this week. Federal Reserve chairman Powell recently threw…
Home values slipped for the second consecutive month as mortgage costs continue to sideline buyers. From June through August, prices usually decline about 2%, but this year they have fallen about 6%. At the same time, mortgage rates hit…
Once again, the recent CPI report came in much higher than expected. Why did the market drastically miss this prediction? I’m not even an economist and figured out months ago inflation would be higher for longer as everything I buy…
Wow, what a difference a few months makes. Earlier in the summer, basically any property with 4 walls had multiple offers and prices were on a tear. Fast Forward a few months and Blackstone, one of the largest buyers of…
The National Association of Realtors predicts sales to rise again throughout 2023. At the same time, demand for mortgage refinances are down 83% from a year ago. Applications for a loan to purchase a home were 18% lower than the…
When I looked over my shoulder and saw these two fellows staring at me, it made me wonder if they were trying to tell me something. I definitely got the hint! I don’t think anyone would debate that real estate…
The federal reserve did an analysis of what has led to the surge in housing prices and has a conclusive answer; the driver of high prices is not that we don’t have enough houses as the media has been claiming.…
If you haven’t gotten a haircut in a while, you are in for a surprise. Haircut prices like many other services in the economy are experiencing large increases. What does the increase in haircut prices mean for the economy and…