Jason welcomes Selma Hepp, the Chief Economist of Core Logic. They discuss the challenging state of the real estate market and noted that the market was facing issues due to rising mortgage rates, which led to a decline in transactions and mortgage refinances. Additionally, she highlighted that existing homeowners were benefiting from this situation due to their low mortgage rates and increasing equity. Selma also pointed out that the volume of home sales was down by 18% last year and was expected to decline by a similar amount this year, while mortgage origins were likely to be down by 30-35%. She also mentioned that the inventory of available homes for sale was at its lowest level historically, a quarter of where it was before the great recession. Despite this challenging market, Selma didn’t expect much change until the spring of next year.
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337: Retail Renaissance- Return of the Commercial Real Estate Market
336: Predicting the Next Economic Recession & Revolutionizing Banking with Decentralized Finance | Campbell Harvey
334: Global Economy, Demographic Trends and the Resilience of the US Rental Housing Market
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332: 2024 Housing Market Forecast: Why Home Prices Are Set to Soar Despite Challenges
331: Unveiling the Macro Trends Shaping the Housing Market
330: Debunking the Fear Porn- Economic Cycles and Housing Stability
329: Inflation-Induced Debt Destruction: How Real Estate Trumps Traditional Investments
328: Geopolitical Instability and Real Estate: How the U.S. Stands Out with Joe Brown
327: The Current State and Future of Rental Housing: Exploring COVID-19’s Impact, Demand Surge, and Challenges for Affordable Housing with Jay Parsons
326: Housing Bubble Myth, Shadow Demand, Lower Existing Home Sales, Increased Mortgage Rates, Outlook for 2023 with Rick Sharga
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