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Coach
…is what I might say if I were giving financial advice, which I’m not
Agree
Lol as a real estate professional, I disagree.
Over long periods of time houses always go up, true. Over short periods of time, usually around rate cuts that’s not a for sure thing. The data correlation favors rate cuts and price cuts. But everyone has a short memory and thinks Covid prices are the expected behavior. The market has changed, lots of people would like to buy but prices are too high. Job market is generally stagnant for above average paying careers. It’s not 2021 again. All signs point to a continued slowdown, it’s risky to take on a 5k mortgage, most people will hold off if possible.
What you says invalidate because spending and income is still growing, the economy is still growing, people’s reality was just dwarfed by the cycle of easy monetary policy. We can afford to keep rates higher for even longer. Like I said, unemployment is still extremely low. People are actually working now and businesses are getting more efficient, average hours worked is finally start to pickup. Easy money is gone, that doesn’t mean they need to get back to easy money.