Celebrity Real Estate News, World Series Pressure Intensifies, Mortgage Rates and How to Stay Ahead
Manage episode 381726327 series 3385941
A lot going on with the economy! Concern increases as treasury yields soar and mortgage rates rise to 8%!
The unknown of whether inflation will continue to increase. CPI increased 0.4% in September, and over the last 12 months it increased to 3.7%. Barry Sternlicht, billionaire of Starwood Capital, private equity firm- who specializes in real estate - sounded the alarms
MORTGAGE RATES
- Average mortgage rate for the last 3 months is about 7%
- There were 1.13M homes for sale at end of September, down more than 8% from a year ago (inventory)
- Lowest levels since Great Recession
Sales of previously owned homes in September dropped 15.4%, compared to September 2022. CA house payment risen 127% since right before pandemic, while house prices has rose 45%
- First time home buyers made up 27% of sales; All cash sales 29% - up from 27% in September and up from 22% in sept last year
- End of year is the best time to buy - less competition since buyers go on vacation and enjoy the holidays
- It is likely the Fed will not raise rates Nov. 1 - “our economy is resilient, unemployment is low and inflation is in check/sticky” - but rates are hanging high.
- Prices fell last year from June 2022 til Dec 22 due to rapid deterioration in home affordability because of higher mortgage rates that hit about 7.4% in Oct. Expected market time went up during this time as well.
- Right now about the avg. days on market is about 80 days, and buyers market is about 120 and more days.
** Sources & Credits to **
• Rates in the U.S. will come down, Sta...
https://www.reuters.com/world/us/us-h...
https://tradingeconomics.com/united-s...
https://www.cnbc.com/quotes/US10Yhttp...
https://therealdeal.com/national/2023...
Steven Thomas Reports on Housing
• Andrew Bustamante - CIA Spy / World W...
• President George W. Bush throws out f...
• President Bush throws the first pitch...
https://nypost.com/2023/09/12/powerba....
https://www.mansionglobal.com/article...
*note: current events, data and information are based on the recording date of October 2023
Let us know your thoughts in the comments, and share with others if you found this insightful or entertaining.
Like and Subscribe! @FullCountChannel
Prefer to watch this episode? Check out our YouTube Channel - https://www.youtube.com/watch?v=TtTz-bHsiFI
---
This channel is to help others gain knowledge on various industries and topics, with a main focus around real estate, real estate investing, and wealth building. There will discussions on various topics, ranging from past and current real estate market trends, different real estate investing techniques, and how to excel under pressure; i.e - "The Full Count Moment". This channel will also host guest interviewers who will share their stories and expertise on becoming successful.
The way to get ahead in life is through right mindset to get past obstacles. What is your Full Count Moment???
COMMENT, LIKE, SHARE, & SUBSCRIBE!
Follow us on social:
- Prefer to watch? Check out our YouTube Channel - Full Count Podcast YouTube @fullcountpodcast
- Instagram: @FullCount_Podcast
- LinkedIn: https://www.linkedin.com/company/fullcountpodcast
- Twitter: @FullCountExcel
- Facebook: https://www.facebook.com/FullCountChannel
38 episodes