HousingWire Daily How the stock market affects the housing market
10 snips
Sep 29, 2025 
Logan Mohtashami, a lead analyst focused on the housing market, discusses the intricate relationship between the stock market and housing. He explains how upper-income households use stock funds for spending, and emphasizes that housing demand is more linked to interest rates than stock fluctuations. The conversation touches on generational wealth in the stock market, critiques of Fed comments on home prices, and the impact of tariffs on construction costs. Logan also highlights concerns about a potential government shutdown affecting housing data.
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Rates Drive Housing More Than Stocks
- Logan Mohtashami argues housing demand tracks mortgage rates and the 10-year yield more than stock market wealth.
- He notes past 20% equity drops didn't consistently reduce housing demand because rates drove activity.
Wealth Effect Is Concentrated And Limited
- Sarah Wheeler highlights many buyers lack significant stock-market wealth, especially younger cohorts.
- Logan adds stock exposure is high but housing is illiquid and sticky, so equities' swings don't mirror housing moves.
Fed Should Avoid Fearful Housing Commentary
- Logan warns the Fed should avoid public commentary about falling home prices unless foreclosures rise.
- He says current modest year-over-year price changes don't justify framing housing as a systemic risk.