Ivy Zelman on the Coming US Housing Crisis
Macro Hive Conversations With Bilal Hafeez
00:00
Affordability in a Refinance Market
Mortgage rates have gone up. Affordability in an index that we measure it is at like amongst the highest levels that we've seen even exceeding the prior stretch levels that we saw in the last cycle. So that's really a function of how does the Fed orchestrate improved affordability while trying to fight inflation without pushing rates higher? You know, outside of my expertise, I'm trying to forecast long rates. But right now we need to see a pretty substantial decline in rates and or home prices to see affordability more attractive.
Transcript
Play full episode
