Byron Lazine and Tom Toole discuss the recent Fed meeting and the 25 basis point rate hike, falling inventory, the drop in showing traffic, the latest jobs report, and the second-biggest home price correction since World War II.
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Timestamps:
00:00–00:29 Intro
00:29 Topic #1: The Fed’s recent rate hike
02:45 It’s still the highest inflation in 40 years
05:33 Lawrence Yun’s prediction (and how he and Logan M are on the same page)
08:01 Topic #2 Falling inventory & bidding wars
09:37 Unemployment hit 3.4% – the lowest level since May
1969 10:25 I’d have 2-3 partners, and I’d have conversations with them daily.
14:50 Topic #3 The jobs report: “Are we entering a job market bubble?”
15:49 Topic #4 Showing traffic is down but still above seasonal pre-pandemic levels
22:57 Topic #5: Second-biggest home price correction since WWII
24:48 Headline + “Here’s why it doesn’t matter in X market…” What should come next?
29:10 That $500/month savings is 11.08% of the median household take-home income
Show Resources:
https://www.housingwire.com/articles/housing-inventory-falls-once-more/
https://fortune.com/2023/01/31/housing-market-update-home-price-correction-mild-so-far-case-shiller/
https://www.housingwire.com/articles/hawkish-fed-couldnt-curb-market-optimism-and-mortgage-rates-tumbled/
https://www.inman.com/2023/02/01/home-showings-dip-in-december-but-slowdown-may-be-easing/
https://www.cnbc.com/2023/02/03/jobs-report-january-2023-.html
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
#inflation #housingmarket2023 #realestatepodcast
