https://www.fox13news.com/news/exper...reverse-trends
"Expert says ‘some kind of miracles’ needed in 'world of real estate' to reverse trends"
The ONLY "miracle" we need is more housing supply. This will solve home pricing and affordability (not lowering rates).
"We've been stuck in this cycle now really since COVID. I think that people are just kind of waiting for things to change, and it might not ever change," The Rogers Healy Companies CEO Rogers Healy said on "America's Newsroom" Thursday.
Absolutely wrong. We've been stuck in this cycle since the housing crash in the late 2000's, and the effects were more pronounced during and due to COVID.
"I think that real estate continues to drive our economy. And I think people are going to hopefully find a way to bring out some kind of miracles in the world of real estate. And it's going to obviously be around interest rates, if not other options as well," he added.
Ya think?? Real estate alone is THE biggest driver of this economy, and probably of global proportions.
And wrong again. Stop focusing on interest rates and focus on finding a property you can actually get under contract.
IMO, people are worried about the wrong elements: interest rates and a supposed "housing market crash".
Rates will not be coming down anytime soon. Look at what the Feds are doing and look where inflation is currently at.
There is no housing market crash to come, at least not to the likes of the late 2000's. There's just not enough homes for this to happen and no where near the amount of toxic mortgages in the secondary market compared to previous times. For the homeowners in which their homes are foreclosed, these will be sold very quickly due to a severe shortage of inventory (meaning there are way more buyers than foreclosures, let alone general supply.)