Rising Rates Crushing Homebuyer Hopes | Knowledge Brokers Podcast 023

Byron Lazine, Tom Toole, and Lisa Chinatti discuss their outlook for the rest of 2023, the 64% of Americans waiting for rates to drop, the shortage of homes for buyers with median incomes, why 7% is too high for today's market, the next Fed meeting, and a Steve Harney Tweet on foreclosures, BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription! Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:08 Intro 01:08 Outlook for the rest of 2023 10:15 Momentum is easy to keep; it’s harder to generate 12:55 Tracking sales by month (+ monthly share of annual sales) and comparing to 2017-18 18:22 64% of Americans waiting for rates to drop 21:33 The spread between the 10 year Treasury and the 30-year fixed 23:33 Only 25% of available homes are affordable to buyers with median incomes 27:57 Responding to a commenter (last week) saying rates will go up 30:33 Steve Harney Tweet re: a recent headline on foreclosures 35:28 Rents down overall—but not everywhere Show Resources: https://www.housingwire.com/articles/median-income-earners-can-only-afford-25-of-current-listings/?cx_testId=6&cx_testVariant=cx_1&cx_artPos=3&cx_experienceId=EXAPB9I50LOS#cxrecs_s https://www.housingwire.com/articles/survey-high-mortgage-rates-are-keeping-many-americans-from-buying-a-home/ https://twitter.com/SteveHarney/status/1666887140834177025?s=20 https://www.inman.com/2023/06/07/doj-nar-commission-and-pocket-listing-investigation-should-resume/ —------- BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers. Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka. Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ —---- Connect with Byron Lazine: https://www.instagram.com/byronlazine Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/ Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/ #realestatemarket #realestatepodcast #realestateagent