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The big premise of the commission lawsuit against the national association of realtors is that high commission fees were one of the leading drivers of real estate prices. How true is this statement? Will the new commission structure for realtors…
According to everything I’ve read, the economy is humming along. Economic growth is good, the labor market is healthy, and a soft landing is all but inevitable. At the same time lenders are acting polar opposite of what we should…
There is a theory that locked in low mortgage rates will force owners to stay in their houses. This has led to a huge shortage of inventory throughout the country. Why is the “lock in effect” starting to wind down? …
Anytime you turn on the news you hear about high house prices and that the culprit is that supply has not kept up with demand. Is supply really the main culprit of housing prices or did something else that…
It is interesting that the market continues to focus on interest rates and employment as the barometer for the economy while totally ignoring one metric. As a lender I just did a year end analysis on our portfolio and…
The market keeps predicting a goldilocks scenario with 100% certainty where inflation falls without much if any impact on residential real estate. The “soft landing” will occur at the same time interest rates have skyrocketed and supposedly the…
Although the graph above looks like an old Atari game, it is the Federal reserve dot plot which shows a profound shift. Ironically, just a few weeks ago the Federal Reserve was touting higher rates for longer. Now the…
Before getting into my predictions, the chart above is indicative of the mixed signals in the economy. Prices are rising on cardboard due to increased consumer demand. How is demand for cardboard rising if consumer spending is slowing along with…
What do the increased conforming loan limits mean for real estate? The federal government (aka you the taxpayer) now backs mortgages up to 1.15m. The maximum size of home-mortgage loans eligible for backing by Fannie Mae and Freddie Mac has…
In a WSJ survey, economists lower recession probability below 50% and say Fed is finished raising interest rates It has been quite a ride for mortgage rates over the last two years. As of this writing mortgage rates were around…