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The new listing went active on the MLS at 4:30pm yesterday, and by this morning there have already been 1,700+ views – less than a week before Thanksgiving! You can’t tell me that the market is dead!
“Inflation is coming down hard. And it’s coming down a lot faster than I think people thought.
Rents are growing but at a much slower pace.
The economy is slowing on its own: our $32 trillion deficit could force rates higher.
This is self-inflicted suicide! This is a terrible idea and it’s not necessary.
Look at the savings rate. Look at debt. Look at rents.
What are they looking at?” – Barry Sternlicht
Alan Detmeister, an economist at UBS who previously headed the wages and prices section in the Fed’s research and statistics division, in a research note forecasts core PCE inflation will slow to roughly the Fed’s target by the end of next year—and then drop to about 1.6% in 2024.
Not sure I’d consider Barry Sternlicht who runs Starwood Capital Group, a private equity firm that specializes in real estate investments an unbiased perspective for interest rates going up or down.
Personally I think that we’re heading into Stagflation. For those that haven’t heard of the term Stagflation means that the economy is stagnating but inflation is still going up. Unfortunately the only way to stop stagflation is to up interest rates through the roof + at the same time government invest in / incentivize local businesses. (Aka Trickle Down Economics)
Everything old is new again
Jim, I’m not saying he’s wrong (I don’t know) but he was DEAD wrong earlier this year on his late 2022 projections
https://fortune.com/2022/04/07/ubs-peak-inflation-march-consumer-price-index-2022/amp/
Jim, I’m not saying he’s wrong (I don’t know) but he was DEAD wrong earlier this year on his late 2022 projections
Maybe he was just early? From the article:
Now UBS is calling its shot once again, arguing inflation will peak in March and move down “sharply” from there as consumers shift their spending to services, and used car prices, which have been sky-high throughout the pandemic, begin to drop.
The UBS team also said it expects gas prices, which rose to record highs in March, will decline every month from April through November, helping to reduce headline inflation.