One Rental At A Time I was WRONG about Housing Market
6 snips
Nov 27, 2024 The discussion starts with surprising trends in pending home sales, showing unexpected growth despite weak new home sales in the South. Insights on inflation's impact and tariffs shed light on Federal Reserve policies. Recent economic indicators reveal potential opportunities for buyers, especially around Thanksgiving. The impact of election outcomes on market activity is also examined, alongside mixed earnings reports from major companies. The host celebrates the community's support and shares plans for engaging new content.
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Incorrect Housing Market Prediction
- Pending home sales unexpectedly rose 2% month-over-month, despite anecdotal evidence suggesting a decline.
- The speaker, who predicted a 5% drop, acknowledges being wrong and emphasizes learning from mistakes.
New Home Sales Decline
- New home sales dropped 17.3% month-over-month, significantly impacted by a 32% decline in the South.
- 60% of new home construction occurs in the South, making it susceptible to weather events affecting sales.
Tariff Impact on Inflation
- Tariffs, if implemented as threatened, could increase inflation by 1%, according to Goldman Sachs.
- The speaker anticipates negotiations and a more targeted approach to tariffs than initially proposed.