One of the biggest challenges my clients are facing right now is that they are looking in this limited inventory market – and they just aren’t finding a house that they want. Either it’s a junky house that needs to be fixed up, or the right homes are out of their price range. Thinking Outside […]
These Interest Rates WILL Crash Real Estate… Or Not
Yesterday, my wife sent me a meme that shared interesting information: in 1971 interest rates were 7.3%, and they didn’t move lower for more than 20 years. During that time, home prices increased significantly. 10 years later, in 1981, rates maxed out at 18.6% because of inflation. It got me thinking: how is that possible? […]
“It’s Simple Supply and Demand,” They Say
Everyone is talking about supply and demand, and it’s true that this is one factor affecting real estate pricing. For example, with housing, the reason we haven’t seen prices come down is that supply is so low. The ongoing demand keeps prices up, which is what we’ve been seeing in the last few years. Debt […]
Wage Increases Are a Double-Edged Sword
There is a lot of conversation on the topic of employment and how it relates to inflation – and what The Fed decides to do. The jobs reports come out on the first Friday of every month, showing the previous month’s numbers. The Wednesday before that, we always get the report from ADP: a massive […]
Are We Ever Getting to 2% Inflation?
Tomorrow is PCE, which is the Fed’s favorite inflation read. As we all know, they are trying to get it to 2%. The question is: are we ever going to get there? I watched a podcast yesterday by Barry Habib. Remember, the way inflation happens is comparing the last 12 month-over-month readings. They add them […]
Biden Proposes a Tax Credit for First-Time Home Buyers
Today’s topic came up recently at the State of the Union address. One of the things that was proposed (relating to real estate) is a $10,000 credit, paid in increments over two years. Why a Home Buyer Tax Credit is a Bad Idea I wanted to chime in: on the surface, it seems like a […]
A True NO RATIO Loan for Primary Residences
Today, I want to talk about a program that has been around for a while, but it doesn’t get nearly as much attention as it should. It’s a true “no ratio” program for primary residences. How Do No Ratio Loans Work? “No ratio” kind of sounds like stated income and acts like it too. The […]
Wait… How Much am I Going to Spend on Rent??
One of the biggest complaints I hear right now is about how expensive housing is. I agree! It’s insane how much prices have gone up, and it doesn’t help that rates are high as well. Looking at the Numbers: Buying vs. Renting I put together some numbers to help us understand what it really looks […]
Fannie Mae Expects Rates To Be Under 6% By The End Of This Year
Last week, Fannie Mae released a report. The main takeaway is that they are expecting the number of housing unit sales to increase. Thank goodness! I don’t know exactly where the inventory is going to come from yet, but that is the prediction. Interest Rates Will Be Dropping The other notable piece of information is […]
Just Like the Rolling Stones Said…Time is On Your Side
Take a look at this graphic that we were given from NBS Highway. It outlines data starting in the 40’s, showing appreciation based on every 10-year period through 2014. It’s interesting to see on the chart how in every 10-year period there has been an increase in value… with 1 exception. We are looking at […]
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