I don’t listen to podcasts but I probably should. Do you?
Should I do a podcast? Maybe I can work one in occasionally next year. It always seemed repetitive to talk about the same things you see here on the blog, but I could always tell old stories.
https://realestate.usnews.com/real-estate/articles/best-real-estate-podcasts-to-listen-to
A rate increase to 6% from 5% raises a buyer’s monthly payment by 11.6%. But if wages grow by 5% between mid-2022 and mid-2023, and asking prices are down by 10% versus the peak, affordability is better than it was in April 2022.
We’ll have to continue tracking the data, but pulling together the monthly payments buyers are still committing to, the real-time shift in activity tied to easing mortgage rates and recent commentary from homebuilders, even a 6% mortgage rate early next year might be all it takes to restore some balance to the housing market, contrary to the more negative scenarios favored by some.
https://www.bloomberg.com/opinion/articles/2022-12-20/housing-market-doesn-t-need-much-for-buyers-to-return