Despite a "victory" this week for KC Tenants, the local housing market confronts another tough year.
But before we get started, we want to highlight an important comment and postscript to this week's KCMO slap fight on the topic of equity and local shelter . . .
This sums up the situation PERFECTLY.
And now he's a peek at the future . . .
THE EXPECTED SPIKE IN INTEREST RATES THREATENS TO TURN OUR KANSAS CITY HOUSING CRISIS INTO CHAOS!!!
We don't have time to explain economics to everybody but here's a quick peek at the future . . .
People with cash might already be rushing to lock down a home loan before the Fed spikes interest rates officially, if they have good credit they might be able to find something.
Meanwhile . . .
Even a massive drop in home prices won't help broke-ass locals who couldn't afford anything in the first place.
In essence, some locals are worried about what's tantamount to a housing supply chain crisis. Rising prices worsened by scarcity of both new homes and qualified buyers.
If some of this doesn't make sense . . . Don't worry, it's not supposed to and we're sure that your real estate agent will offer much more reassuring lies.
To put it as simply as possible . . .
More than anything else, the American housing market confronts a deflationary downward spiral.
To be fair, I'm sure that Prez Biden & company might be able to solve this problem with more free money.
Or maybe not.
We're about to find out given that rates could start rising as soon as the 25th.
To make this crisis even more fun . . . Let's not forget that housing is the bedrock of the American economy and so EVERYBODY has skin in this game.
Read more via www.TonysKansasCity.com news links that mostly contradict each other . . .
People signing papers for a new home loan will pay the highest interest rates since the start of the pandemic, according to new data released by the feds. Mortgage rates for the typical 30-year loan have climbed to their steepest levels since early 2020 as the housing market looks to expected Federal Reserve rate hikes.
of By Douglas A. McIntyre 24/7 Wall St. | Demand for housing has risen sharply in 2021, and that has affected prices. According to the carefully followed S&P CoreLogic Case-Shiller Indices, home prices nationwide rose 19.1% in October, compared to the same month last year. In several markets, the figure was over 25%.
Bloomberg - News that the U.S. population barely grew this year, together with ever-falling birthrates and the decline in immigration, raises the possibility ...
There appears to be no quick reprieve coming for rising prices: "It's not a bubble, it really is about the fundamentals." Two years into the pandemic, rundown bungalows command bidding wars, buyers keep snatching up places they've never seen, and homebuilders can't find enough cabinet doors for everyone who wants a new home.
Kristalina Georgieva, managing director of the International Monetary Fund, has said that interest rate hikes by the Federal Reserve could "throw cold water" on already weak economic recoveries in certain countries. Georgieva, speaking via videoconference at The Davos Agenda virtual event on Friday, said an increase in U.S.
Get ready for the climb. Here's what history says about stock-market returns during Fed rate-hike cycles.
Bond yields are rising again so far in 2022. The U.S. stock market seems vulnerable to a bona fide correction. But what can you really tell from a mere two weeks into a new year? Not much and quite a lot. One thing feels assured: the days of making easy money are over in the pandemic era.
Real estate equities were among the better-performers in the last week - but still posted broad declines. Read more about our review on REIT stocks here.
Developing . . .