Real Estate Mogul Barbara Corcoran Issues Stark Warning to Celebrities Struggling To Sell Homes: ‘Get Realistic!’
She told host Neil Cavuto that if mortgage rates drop to anywhere within the 5% range, it could trigger “incredible” homebuying activity., Corcoran conceded that she doesn’t know whether “we will ever see a 5% number.” However, if such a drop were to occur, “it would be incredible for the market.” “What we’re losing right now and what we desperately need right now is more first-time homebuyers,” she said, before offering a shocking statistic: “Less than 24% of the people are first-time buyers, an all-time low.”Interestingly, in a potentially bright spot, existing-home sales have gone up in the past month, by 3.4%, she noted.
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