Earlier in the year most economists and myself predicted a recession by now, but the cards have changed with most now predicting the opposite, a soft landing. What is a soft landing? Is a soft or hard landing better for…
For years interest rates were the number one indicator for real estate prices. In this cycle interest rates have more than doubled yet real estate prices have barely budged. If we look back at 2008, the impetus for the large…
Like most, I have been surprised at the recent upward movement in prices. Did we just experience the shortest housing cycle ever? Are housing prices going to continue their recent upward swing? Why are housing prices now moving higher after…
Both the stock and bond markets are partying like its 99 again. Fannie Mae, the largest buyer of US mortgages, is not buying into the theory that a soft landing is the base case for the economy. What is Fannie…
Lawmakers introduced a bill Tuesday aimed at curtailing investor activity in the housing market that they say is driving up home prices. The Stop Predatory Investing Act is targeting single family investors. What is in the newly proposed bill and how will…
Although the spring real estate market has slowed drastically from the pandemic days, the bottom has not fallen out. Quite the opposite has occurred, in suburban markets and sunbelt cities, real estate keeps charging higher. A good example is…
Last week, the president announced an action that will save homebuyers and homeowners with new FHA-insured mortgages $1500 per year (assuming a 500k home), lowering housing costs for an estimated 850,000 home buyers and homeowners in 2023. On the surface,…
As a private lender, my call volume and closings the first quarter have been off the charts as borrowers fall out of more conventional products. This trend is now playing out with the Mortgage Credit Availability Index showing substantial tightening…
In only a couple of months, the world has changed substantially. In December, inflation was supposedly decreasing rapidly and the odds of a soft landing were non existent. Fast forward a few months and inflation is running hot, consumers are…
Purchasing power from paychecks fell 2.9% for middle-income households in 2022 compared with 2021, while rising 1.5% for the bottom fifth of households and 1.1% for the top, according to the Congressional Budget Office study. Furthermore, nearly 40 percent of…