By Steven Thomas / February 22, 2022
HOUSING HAS ONLY GROWN HOTTER DESPITE MORTGAGE RATES RISING CONSIDERABLY SINCE RINGING IN THE NEW YEAR, INDICATING IT WILL TAKE FURTHER CHANGES FOR THE MARKET TO SLOW.
MARKET SHIFTS: IF MORTGAGE RATES RISE ABOVE 4% AND REMAIN ELEVATED WITH STAYING POWER, THEN HOUSING WILL FINALLY SLOW A BIT, SHIFTING FROM AN INSANE SELLER’S MARKET TO A REGULAR HOT SELLER’S MARKET WITH LONGER MARKET TIMES.
Today’s society is accustomed to getting information immediately and from a variety of different sources. Nobody really has to wait for the 5:00 newscast or the morning paper to get the latest news. Everything now can be found on the web and on a smartphone in an instant. The Wall Street Journal, CNBC, MSNBC, FOX, CNN, CBS, ABC, BBC and the countless millions of other websites allow everyone to be plugged into all the constant world changes. It is reported live 24 hours a day, seven days a week. When a bad earnings report for a company is announced…. BOOM! The company stock drops in an instant. The Consumer Price Index (inflation) rises a lot higher than estimates… BOOM! The DOW, S&P 500 and NADAQ all plummet immediately. Yet, changes in the housing market are far from instant.
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