May 5, 2022
Summary:
I invite Wolf Richter to join us for this episode, and he gives a
complete run-down on the housing market—which is up 20-30%, and
subject to fluctuate even more due to interest rates. We’re seeing
that the current inclination (from the perspective of the courts)
is to not foreclose on a property. In consideration of how prices
have changed the housing market, a relatively small number of
mortgages are affected by the price increase. Tune in for more
expert knowledge on what to expect in this sector.
Highlights:
-Housing prices are up 20-30%; will interest rates destroy the
housing market?
-When you look at prices, it’s always a look back—it doesn’t mean
that they will stay the same way
-Mortgage applications for purchases are down 17% from a year
ago
-There’s going to eventually be fewer potential buyers
-The inclination now is to not foreclose on a property; people get
away with this by selling their property for a higher price
-A relatively small number of mortgages are affected by the price
increase
-Rents are a much more liquid measure—especially asking rents
Useful Links:
Financial Survival Network
Wolf Street