Home flippers who pounced on recent drops in home prices now face some major hurdles — and potentially major losses.
The US housing affordability crisis continues to worsen as mortgage rates skyrocket to two-decade highs while the cost of an average home is still at bubbly levels. Financing costs are through the roof, and anyone earning less than $100,000 has been priced out of homeownership.
It appears delusion and hope can only last so long – even when one’s salary depends on it – as US homebuilder confidence crashed to COVID lockdown lows in November after refusing to see what everyone else was seeing more months…
It’s that time of the month again. The ‘most important’ CPI print in history, since the last ‘most important’ CPI print, is expected to show some moderation in October data (but remains at extremely high historical levels in both headline and core), and it did just that and then some:
Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields.
Newsfeed: Mortgage rates fall sharply to under 7% after inflation eases Read More »
The U.S. Federal Reserve raised interest rates Wednesday by 75 basis points for the fourth straight meeting while hinting at a potential slower pace in the future as the central bank continues to try to tame multi-decade highs in inflation.
Newsfeed: Fed rate hike is again 75 basis points with hint of potential slowing pace Read More »
The stock market has long been the go-to choice for people looking to invest their money. But that could be about to change as a younger generation enters the scene.
The Fed’s next crisis is already brewing. Unlike 2008, where “subprime mortgages” froze counter-party trading in the credit markets as Lehman Brothers failed, in 2022, it might just be the $27 Trillion Treasury market.
Newsfeed: The Treasury Market Is The Fed’s Next Crisis Read More »
After tumbling for the first time since 2012 in July, Case-Shiller’s 20-City Composite Home Price index was expected to drop even faster in August (the latest data available) as mortgage rates soared, crushing affordability.
NTD spoke with Robert Helms, host of the radio show The Real Estate Guys, to talk about what he’s seeing in the housing market.
Newsfeed: Housing Market Could Get Dicey: Investor Read More »