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Moody’s: Home prices to crash 20% in Nashville—here’s the revised forecast for the nation’s 322 largest housing markets
Source: Fortune --- The housing market downturn continues to pick up steam. This week, we learned that slumped home construction subtracted 1.37 percentage points from U.S. GDP in the third quarter. That’s the biggest housing contraction since 2007. Meanwhile,...
Fed Seen Aggressively Hiking to 5%, Triggering Global Recession
Source: Bloomberg --- Federal Reserve officials will maintain their resolutely hawkish stance next week, laying the groundwork for interest rates reaching 5% by March 2023, moves that seem likely to lead to a US and global recession, economists surveyed by Bloomberg...
Here are the N.J. towns where the housing market may be cooling the most
Source: NJ.com --- The housing market is cooling. Interest rates have risen 4 percentage points since August 2021 when they were 2.7%. Inflation is at about 8.3%, making everything from groceries to gasoline more expensive. And home prices have risen 28% in the past...
Home prices are finally falling. But how low will they go?
Source: KSL News --- The US housing market is in the midst of a major shift. After two years of stratospheric price appreciation, home prices have peaked and are on their way back down. “Good news for home buyers, sellers are dropping their home prices” But what...
The US Housing Market was once hot as lava. Is it grinding to a halt?
Source: USA Today --- What once seemed like it was as hot as lava, the U.S. housing market now seems to be cooling down pretty quickly. But why? There seems to be enough people looking to buy homes right now with Millennials making up 43% of homebuyers, up 5% from...
Paying Cash for Your Home Is a Bad Idea for These 4 Reasons
Source: The Motley Fool --- After rock-bottom interest rates during the first phase of the COVID-19 pandemic, the mortgage chickens have finally come home to roost. In October 2021, the average U.S. mortgage interest rate for a 30-year fixed-rate mortgage was just...
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