Interest Rates, Price Crash, Recession?
There a opinions all over the media, social media, and in conversations with these three concentrations. Everyone has an opinion and most of us are along for the ride because the focus is National or Global.
Sometimes an article has a catchy enough headline to make me go beyond the surface, and read it. One such article was recently on HousingWire.com and was written by Why the Fed’s housing reset risks a global recession."
In the article he dissects the actual sentences of the FED Chairman, Jerome Powell, and he interprets what he (Logan Mohtashami) sees are the actual inferences that the Chairman is making. Logan provides his explanation of where the housing market is and where it is likely heading - which is not necessarily in agreement with the FED Chair. In fact, Mohtashami goes so far as to say that what Powell says, is not supported by the available data.
I don't want to reiterate his points here, and the graphs and info in the article are interesting enough to consider, so if you're looking for another source of interesting housing data and interpretation, Housingwire.com may be one to add to your weekly research list.
Of course all real estate is local, and housingwire.com looks more at the big picture most often. It is up to the local professionals to help guide local purchases and inform clients as to what the actual local trends are. I mean, how much will the +-30% drop in Chinese real estate prices actually affect local prices here in my Luxury Real Estate Market on Cape Cod?
I always consider and keep in mind - negative news may not be the case in all places. For example, a hurricane can be the attention focus, all while it is a beautiful day in most other places.
All real estate is local.
Best, Heath
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