Redfin CEO issues dire warning on US's 'rock bottom' real estate market: The 'American dream' is in trouble

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Redfin CEO Glenn Kelman discusses American real estate as homebuyers attempt to 'catch a break' from the 'rock bottom' market.

Redfin CEO Glenn Kelman reacts to the U.S. real estate market, warning homebuyers that relief from the "rock bottom" economic conditions remains uncertain in 2024. EXPERT SAYS ‘SOME KIND OF MIRACLES’ NEEDED IN 'WORLD OF REAL ESTATE' TO REVERSE TRENDS "You'll have to ask the Fed when the market's going to get better, because it seems very unlikely that interest rates will ease by the end of this year.

I think we have to come together as a society, build more houses and figure out a way that next generation is going to be able to buy into our society." Real estate companies like Zillow are attempting to attract more homebuyers into the marketplace by launching a 1% down payment program that aims to help potential buyers who have been priced out of the market due to high borrowing rates, excessive rents and elevated home prices.

 

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