Jason discusses the surge in existing home sales by 9.5% in February, marking a two-year consecutive increase due to a slight rise in inventory. Fox Business highlights keeping mortgage rates under 7% for homebuyers. The show emphasizes the housing affordability crisis and potential impacts of the NAR lawsuit on realtor commissions, predicting market chaos. Despite media misreporting on commission changes, the segment stresses the need for real estate professionals in navigating complex transactions. It anticipates increased competition among brokers and agents, urging them to enhance service quality amid evolving market dynamics.
Then Jason welcomes real estate analyst Rick Sharga. Rick discusses the housing market and economic trends. Despite concerns of a crash, he suggests a slow period with modest price increases rather than a downturn. He dismisses crash predictions, highlighting historical data showing home prices generally rise during recessions. Sharga addresses factors like consumer spending, job growth, inflation, and Fed policies influencing mortgage rates. He acknowledges the possibility of a mild recession due to Fed actions but emphasizes it may not significantly impact real estate if inventory remains low and distressed sellers are scarce.
#cnbc #foxbusiness #neilCavuto #RickSharga #RealEstateTrends #HousingMarket #HomeSales #MortgageRates #NARLawsuit #AffordabilityCrisis #MarketAnalysis #FoxBusinessInsights
Key Takeaways:
Jason’s editorial
1:40 WSJ article: 9.5% surge home sales in FEB
3:11 Fox Business- over and under 7% supply/demand dynamics
Rick Sharga interview
14:49 Rick’s macro view on the housing market
18:39 A different supply and demand dynamic
21:57 GDP remains strong, unemployment and other factors
24:55 https://RESimpli.com/Jason/
26:37 Wage growth and consumer confidence & spending and the debt trap
31:49 Inflation and the FED
34:56 FED Funds rate, the Yield curve and avoiding a recession
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