the U.S. housing market this week, and the commentary rattled markets during the past few days. Powell hinted at a real estate correction or a cooldown of housing prices to wrestle inflation down back to the 2% levels.
“The deceleration in housing prices that we’re seeing should help bring sort of prices more closely in line with rents and other housing market fundamentals — And that’s a good thing,” Powell insisted. “For the longer term what we need is supply and demand to get better aligned, so that housing prices go up at a reasonable level, at a reasonable pace, and that people can afford houses again,” Powell told the press on Wednesday.
Average 30-Year Fixed Mortgage Interest Rate Jumps 27bps to 6.55%, Economist Says Home Prices Are Still ‘Significantly Overvalued’from bankrate.com on September 24, 2022, indicate that the current average for a 30-year fixed loan is 6.55%. Bankrate.com’s data shows the 30-year fixed mortgage rate jumped 27bps in the last seven days. Ten regions in the U.S.
Raising costs via higher interest rates and expecting prices to come down? Needs to take the course commonsense 101. Insanity is doing the same thing repeatedly yet expecting different results
MahsaAmini مهسا_امینی
JeromePowell, a tump appointee, lowered interest rates when they did not need to be lowered to help trump's re-election chances, artificially injecting trillions into the economy, and now JoeBiden is paying with ultra high interest rates. Fire Powell. federalreserve
So bezos can buy up all the housing.
No kidding🤭
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He's actually right. The prices are too high. We need a recession for it.
You can tell. More and more people adopting stablecoins like Tether to survive this inflation.
He’s right
Housing prices aren't going back down. As long as inventory is low they will always be high. People can't afford to upgrade right now so there aren't houses for 1st time buyers.
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Pagliaccio.
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Really, I only listen to ChiefraFba for signals and analysis