Housing Pullback Threatens Kansas City

Let's start with context . . . 

The housing market is experiencing a significant pullback and extended correction characterized by plunging sales, elevated mortgage rates (consistently hovering around 6.5% to 6.7%), and rising delistings as sellers withdraw homes from the market in the absence of buyers. 

This morning . . .

Kansas City talker Pete Mundo shares that best perspective about how the impact might hit EVERYONE locally . . . Check-it:  

"They've baked in HUGE spending increases since COVID. They've claimed they have kept the mill level equal, or lowered it, while still collecting record amounts of money from property taxes. 

"Would they suddenly spike it and then claim, "don't you like your trash to be picked up on time?" "Don't you like your schools?"

"That's my bet."

Read more via www.TonysKansasCity.com link . . .

Pete Mundo On X: "IF we get a massive pullback in housing (and I know it's metro/market specific), what do our goobers in city and county governments do with property taxes?"

Developing . . .