Buying a House Could Be Disastrous Right Now

Oh, the Housing Market is in Shambles (but So Are Our Elections)                                                                                                                                                                                                                                                                                                                                                                                                                 August 12, 2024 | [Read Online]( Oh, the Housing Market is in Shambles (but So Are Our Elections) Today’s News! Good Morning! Thanks for taking the time to read our newsletter, and we have lots to share with you! Cartoon of the Day Political Uncertainties Impact the Housing Market In a recent interview on "Cavuto: Coast to Coast," Redfin CEO Glenn Kelman provided a sobering analysis of the current state of the U.S. real estate market, which appears to be in a significant downturn. Despite a slight decrease in interest rates, Kelman noted a persistent hesitancy among potential homebuyers. "Housing is just in a funk. Even though interest rates have dropped 20 to 30 basis points over the past few weeks, we've seen homebuyers still on the sidelines," he stated. Kelman believes the upcoming presidential election is a major factor causing buyers to pause, suggesting that the political climate is having a profound impact on consumer confidence. "The real issue might just be the election. We've talked to so many homebuyers who say they're going to wait to see what happens in this election. It is gripping the national psyche, as you may have heard," he explained. "Inventory is going to remain very low for a long time, just because people who got a 3% rate aren't going to give up that loan, as you suggested. So we know that is the state of play. But even within that context, I think affordability is really a problem," he remarked. When questioned about the potential impact of the 2025 presidential outcome on the housing market, Kelman expressed that the economic policies of the next administration will be crucial. "I think that different people have different beliefs around which president will be best for the economy. Obviously, we have to get the deficit under control. Part of what's driving interest rates up is inflation. But mostly that's been tamed," he said. Kelman also touched on the broader economic issues affecting the housing market, particularly the national debt. "The real issue is that the government is borrowing so much money. And so the Republicans want to cut spending, the Democrats want to raise taxes. We probably need to do a little bit of both. And that's going to be the biggest factor on the housing market. Can we get the deficit under control? Can we make sure we have a clamp on inflation? Can the Fed do its job without a lot of political pressure?" he concluded. This is an advertisement Do you struggle with hearing loss? You don't have to suffer in silence. Want to experience a world where missed conversations are a thing of the past? With [hear.com]( you can! They’re delivering you the best new innovation in the hearing care industry – the revolutionary IX. Packed with new features to ensure you never miss another important conversation, the IX also seamlessly integrates into your daily routine. With user-friendly features and the promise of speech clarity, it’s no wonder that people everywhere are excited about it. Don’t just hear - thrive, without skipping a beat! [Start your no-risk trial today!]( Video of The Day [YouTube video by The Political Movement]( Ranchers Blame Biden: Why Your Steak is Costing More Than Ever This email has ads brought to you by our sponsors. [tw]( [yt]( Update your email preferences or unsubscribe [here]( © 2024 The information presented here is for general educational purposes only. MATERIAL CONNECTION DISCLOSURE: You should assume the sender of this email has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this message and may receive commissions from purchases you make on subsequent web sites. You should not rely solely on information contained in this email to evaluate the product or service being endorsed. Always exercise due diligence before purchasing any product or service. 4801 Linton Blvd. #11A-636 Delray Beach, FL 33445, United States of America [[beehiiv logo]Powered by beehiiv]( [Terms of Service](