Decades of Pain Ahead & NAR Settlement
It’s not that often I agree with Redfin CEO Glenn Kelman, but today I do. He recently said in an interview on Yahoo finance that the housing market in in for decades of pain due to the central bank’s aggressive rate-hiking campaign. So, who is really to blame for one of the most unaffordable housing markets in recent history? And more importantly, how is it going to get fixed?
Buyers Are SCREWED- NAR SETTLEMENT • Buyers Are SCREWED- NA...
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If rates come down, that will increase demand and prices, of course. So, it defeats the purpose of lowering rates, if house prices stay high or go up higher!
@JohnJohnCrusher
3 ай бұрын
There's no way around it. Ultimately, after printing 40% new dollars in the past few years, prices can never return to the old normal.
"substantial rebound" at 5:44min. You really believe that? We are in the longest and worst deflation/depression which last a 3 decades or longer and you are talking about a "rebound". You're NUTS!
@JohnJohnCrusher
3 ай бұрын
Deflation? What? The money supply has been permanently inflated by 40% in a few years. All that money is forever in the system, bidding prices up 40%. Forever.
Hi Caryn, really enjoyed the video. You bring forth a very good point on VA guidance regarding the utilization of the home loan guarantee program. Congress has to amend the guidance accordingly which could be done tomorrow or in decades, who knows? P.S. Where are all the comments about a housing market crash that were forecasted in your comments section last year? LOL
NAR will appeal and the final decision is years in the future and any current decision will be stayed until the appeal process has ended. Nothing will change until the final decision is reached in the appeal process so much to do about nothing at this date. As far as interest rates, until the Fed destroyed the housing market by lowering the rates to 2% and forced the prices of houses up (hey I can now afford to spend $700K instead of $350K because my monthly payment is the same) interest rates were always around 5-8%. I bought my first house for 8%+1/2% and others for 5-6.5%, however that was then when the price per sq foot was not $500-$1000 as it is today. The main problem is you can always refinance but you can never reduce the amount you paid for your now overpriced house.
@macfahad
3 ай бұрын
It’s a settlement. Not a judgement.
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@maiyahjimenez here is the video