HousingWire Daily Logan Mohtashami on housing stress and mortgage rates
Nov 18, 2024
Logan Mohtashami, Lead Analyst at HousingWire, shares his expertise on housing credit and mortgage rates. He dispels myths about imminent housing crashes by discussing positive credit reports. The conversation highlights the resilience of the housing market amid rising debt. Mohtashami compares market dynamics in Florida and Texas, focusing on inventory and migration patterns. He also analyzes the impact of high mortgage rates and Federal Reserve policies, emphasizing their influence on future housing trends and economic stability.
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Podcast Stock Traders vs. Homeowners
- Logan Mohtashami jokes about podcast stock traders who constantly predict housing crashes but don't sell their own homes.
- He emphasizes that homeowners don't behave like these traders, citing low new listing data.
Positive Credit Data Contradicts Crash Predictions
- Current credit data, including FICO scores and delinquencies, is exceptionally positive.
- This contradicts predictions of a 2008-like housing crash, supported by low underwater mortgage rates (1.7%).
Consecutive Housing Bubbles Unlikely
- Housing bubbles rarely occur in the same sector consecutively because the conditions creating them usually change.
- The current market lacks the same stressors as 2008, suggesting a crash is unlikely.