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As I’ve been saying, a dip in house prices doesn’t necessarily mean improved affordability. The opposite is actually true right now - housing affordability has hit its lowest level on record. Another point I keep making is that the price drops we’ve seen to date have more to do... show more

Marko Matvikov

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Asked about some Senate Democrats who have written to Fed Chair Powell urging the Fed to cut interest rates to improve a housing shortage, Minneapolis Fed Pres. Neel Kashkari says, "if we simply cut interest rates to try to support home ownership right now, that would probably push up the price of houses and it actually wouldn't lead to any better affordability."

Asked about some Senate Democrats who have written to Fed Chair Powell urging the Fed to cut interest rates to improve a housing shortage, Minneapolis Fed Pres. Neel Kashkari says, "if we simply cut interest rates to try to support home ownership right now, that would probably push up the price of houses and it actually wouldn't lead to any better affordability."

Face The Nation

39,191 Aufrufe • vor 2 Jahren

Canada is currently experiencing a significant drop in house prices, with data from the Federal Reserve showing a nearly 24% decrease off-peak. This decline is expected to improve affordability and stimulate the housing market. #housingmarket #canadarealestate

Canada is currently experiencing a significant drop in house prices, with data from the Federal Reserve showing a nearly 24% decrease off-peak. This decline is expected to improve affordability and stimulate the housing market. #housingmarket #canadarealestate

Daniel Foch

14,297 Aufrufe • vor 1 Jahr

Addressing housing affordability should be a no brainer, but Trump doesn’t give a ####. The political establishment has failed for decades to tackle our crisis of housing costs, and Trump is giving more of the same. We need to turn the page and actually start to make housing affordable again, and signing the 21st Century ROAD to Housing Act is the first step.

Addressing housing affordability should be a no brainer, but Trump doesn’t give a ####. The political establishment has failed for decades to tackle our crisis of housing costs, and Trump is giving more of the same. We need to turn the page and actually start to make housing affordable again, and signing the 21st Century ROAD to Housing Act is the first step.

Senator Scott Wiener

11,924 Aufrufe • vor 2 Monaten

"When we talk about affordability, so much of what's going on with prices is in fact a direct result of public policy. We've seen tariffs that have raised costs. We've seen a big rise in deportations, which are making it difficult for farmers to bring in their crops. We've seen health insurance premiums rise as Congress has fiddled with Obamacare... ...in every sense, affordability is actually the direct result of the actions of the White House."

"When we talk about affordability, so much of what's going on with prices is in fact a direct result of public policy. We've seen tariffs that have raised costs. We've seen a big rise in deportations, which are making it difficult for farmers to bring in their crops. We've seen health insurance premiums rise as Congress has fiddled with Obamacare... ...in every sense, affordability is actually the direct result of the actions of the White House."

Justin Wolfers

19,093 Aufrufe • vor 9 Monaten

.President Donald J. Trump on Kevin Warsh and the Fed: "I think Kevin’s great... I think he’s going to do a great job. I’ve been in favor of interest rates rate rises to stop inflation. I think it sort of is effective. But... we should have the lowest interest rate in the world."

.President Donald J. Trump on Kevin Warsh and the Fed: "I think Kevin’s great... I think he’s going to do a great job. I’ve been in favor of interest rates rate rises to stop inflation. I think it sort of is effective. But... we should have the lowest interest rate in the world."

Rapid Response 47

48,033 Aufrufe • vor 4 Monaten

.Breitbart News’s Nick Nick Gilbertson: “Do you think Democrats are genuine in their focus on affordability, especially after they delivered 40 year high inflation last time they were in power? And then — or do you think they’re using it or focusing on it as a means to try and win midterms and begin the impeachment process?” President Trump: “Yeah. The second. Look, the Democrats had the highest inflation in the history of our country 48 years, they say — but the history of our country. They had the highest inflation that we’ve ever had. When I inherited it, I inherited very high prices. And from day one, they said affordability. Affordability is a word because they’re good at that. They’re good at words. But I’m good at words too. But they hit me with affordability. I’d just gotten there. They hit me with eggs. We had a news conference on my third day and they said, egg prices are through the roof. I said, I just got here, tell me about eggs. And we got the prices down, way down, actually lower than it was four years before. But we’ve gotten everything. The thing that we have now — the only thing that’s really of great concern, two things. Beef is coming down. And the reason is they put restrictions on beef under the Biden administration, and it takes a while to settle that. But prices are down. But the big thing is, of course, energy. We had the energy way down, but I had to do a journey to Iran. I had to say, you know, we just hit the best markets. By the way, the stock market today is at the highest it’s ever been. And we’ve had 59 of them. 59 days out of a very short period of time where the stock market hit all time highs. So, we have an all time high stock market. We have all time high job numbers. We have 401(k)s just hit the highest number they’ve ever been. So many of you have 401(k)s. That means you’re richer than you’ve ever been. And we’re doing really well. But they — they came up with this word affordability. But it’s them that caused the problem. And they use that word — Senator, Senator, they use that word right from the beginning. I was in one day and I heard somebody on television say affordability, and I inherited this mess from them. But we’ve got it in great shape. The country is doing well. We’re respected all over the world. This country is respected. The hottest country. We’re a dead country two years ago and now we’re the hottest country anywhere in the world. So, I think most of you appreciate that. Some of you don’t.”

.Breitbart News’s Nick Nick Gilbertson: “Do you think Democrats are genuine in their focus on affordability, especially after they delivered 40 year high inflation last time they were in power? And then — or do you think they’re using it or focusing on it as a means to try and win midterms and begin the impeachment process?” President Trump: “Yeah. The second. Look, the Democrats had the highest inflation in the history of our country 48 years, they say — but the history of our country. They had the highest inflation that we’ve ever had. When I inherited it, I inherited very high prices. And from day one, they said affordability. Affordability is a word because they’re good at that. They’re good at words. But I’m good at words too. But they hit me with affordability. I’d just gotten there. They hit me with eggs. We had a news conference on my third day and they said, egg prices are through the roof. I said, I just got here, tell me about eggs. And we got the prices down, way down, actually lower than it was four years before. But we’ve gotten everything. The thing that we have now — the only thing that’s really of great concern, two things. Beef is coming down. And the reason is they put restrictions on beef under the Biden administration, and it takes a while to settle that. But prices are down. But the big thing is, of course, energy. We had the energy way down, but I had to do a journey to Iran. I had to say, you know, we just hit the best markets. By the way, the stock market today is at the highest it’s ever been. And we’ve had 59 of them. 59 days out of a very short period of time where the stock market hit all time highs. So, we have an all time high stock market. We have all time high job numbers. We have 401(k)s just hit the highest number they’ve ever been. So many of you have 401(k)s. That means you’re richer than you’ve ever been. And we’re doing really well. But they — they came up with this word affordability. But it’s them that caused the problem. And they use that word — Senator, Senator, they use that word right from the beginning. I was in one day and I heard somebody on television say affordability, and I inherited this mess from them. But we’ve got it in great shape. The country is doing well. We’re respected all over the world. This country is respected. The hottest country. We’re a dead country two years ago and now we’re the hottest country anywhere in the world. So, I think most of you appreciate that. Some of you don’t.”

Curtis Houck

36,122 Aufrufe • vor 3 Monaten

Hassett: "There's a lot of good news, especially in groceries. Egg prices are down to about the lowest level that have been in years ... the inflation story is disappointing with energy, but actually promises everywhere else."

Hassett: "There's a lot of good news, especially in groceries. Egg prices are down to about the lowest level that have been in years ... the inflation story is disappointing with energy, but actually promises everywhere else."

Aaron Rupar

94,108 Aufrufe • vor 5 Monaten

He is absolutely SMASHING their narratives in real time. Vice President Vance immediately pushes back hard after Joy Behar claimed President Trump called affordability a “hoax”. BEHAR: “President trump has called affordability a hoax. He said that, not me...” “He is pouring money into this ballroom and the reflecting pool, the arch de Trumpe, I call it, and a White house Cage match. All these things.” “Why is he doing them when you just...everybody knows that Americans are struggling. What is he spending all of this money for?” VANCE: “Well, I’ve got to defend the president on the hoax point.” “What the president said is the idea that Republicans caused the affordability problem is a hoax.” “And I think that’s true.” “If you go back to the Biden administration, inflation got up to 9% inflation.” “Right now it’s at 3.5%. By the way, too high. We’re doing everything we can to bring it back down to 2.5%, where most people would like to see it.” “But we inherited an affordability problem.” “We’re doing a lot to make it better.” “It’s going to take a little more time. There’s a lot more work to do.” “But the president knows a lot of Americans are struggling. He ran on that. He talked about it.” “And we’ve done some things and made some good progress on that point.”

He is absolutely SMASHING their narratives in real time. Vice President Vance immediately pushes back hard after Joy Behar claimed President Trump called affordability a “hoax”. BEHAR: “President trump has called affordability a hoax. He said that, not me...” “He is pouring money into this ballroom and the reflecting pool, the arch de Trumpe, I call it, and a White house Cage match. All these things.” “Why is he doing them when you just...everybody knows that Americans are struggling. What is he spending all of this money for?” VANCE: “Well, I’ve got to defend the president on the hoax point.” “What the president said is the idea that Republicans caused the affordability problem is a hoax.” “And I think that’s true.” “If you go back to the Biden administration, inflation got up to 9% inflation.” “Right now it’s at 3.5%. By the way, too high. We’re doing everything we can to bring it back down to 2.5%, where most people would like to see it.” “But we inherited an affordability problem.” “We’re doing a lot to make it better.” “It’s going to take a little more time. There’s a lot more work to do.” “But the president knows a lot of Americans are struggling. He ran on that. He talked about it.” “And we’ve done some things and made some good progress on that point.”

Overton

62,643 Aufrufe • vor 2 Monaten

Under the Biden administration, American families suffered from the “Four I’s”: Immigration, Interest rates, Inflation, and Insanity. Now, thanks to President Trump’s leadership, the border is secure, the bond market is rebounding, and strength in the White House has been restored. Our Administration continues to focus on tackling inflation and making America affordable again.

Under the Biden administration, American families suffered from the “Four I’s”: Immigration, Interest rates, Inflation, and Insanity. Now, thanks to President Trump’s leadership, the border is secure, the bond market is rebounding, and strength in the White House has been restored. Our Administration continues to focus on tackling inflation and making America affordable again.

Treasury Secretary Scott Bessent

220,178 Aufrufe • vor 9 Monaten

Memory Inflation Tax is here 🤯 Apple has significantly raised their prices Xbox has followed Gaming will be costlier Laptops will be costlier And they are saying it’s just Day 1 of a long road ahead of price increases of electronic devices So, as Intelligence becomes localised and as more and more data centers, humanoid machines and intelligent drones keep building, the price of chips is going to increase dramatically Brace yourself doston As the world keeps using more and more “intelligence”, the Memory Inflation Tax is going to hit us all, very hard 🥲

Memory Inflation Tax is here 🤯 Apple has significantly raised their prices Xbox has followed Gaming will be costlier Laptops will be costlier And they are saying it’s just Day 1 of a long road ahead of price increases of electronic devices So, as Intelligence becomes localised and as more and more data centers, humanoid machines and intelligent drones keep building, the price of chips is going to increase dramatically Brace yourself doston As the world keeps using more and more “intelligence”, the Memory Inflation Tax is going to hit us all, very hard 🥲

Shekhar Dutt

215,957 Aufrufe • vor 2 Monaten

Inflation and interest rates to 14%? He thinks so and makes the case on why I think we’re headed over 10%. Btw, CNBC’s Rick Santelli is on the record saying he thinks we hit double digits too. It’s hard to get the “inflation” genie back in the bottle once it’s released.

Inflation and interest rates to 14%? He thinks so and makes the case on why I think we’re headed over 10%. Btw, CNBC’s Rick Santelli is on the record saying he thinks we hit double digits too. It’s hard to get the “inflation” genie back in the bottle once it’s released.

QE Infinity

24,362 Aufrufe • vor 4 Monaten

Housing Affordability Will Return the Hard Way New homes selling for less than existing homes means builders are being forced to respond to the market before homeowners are. Builders carry construction loans, land costs, payroll and unsold inventory. They cannot wait indefinitely, so they cut prices, reduce square footage and offer mortgage rate buydowns. Existing owners with 3% or 4% mortgages can simply refuse to sell. Price discovery is therefore appearing first in new construction while resale prices remain supported by restricted supply. The comparison is not perfectly equal because new homes are increasingly smaller and concentrated in lower-cost regions. Even so, the reversal matters. A market that historically placed a premium on new construction now requires discounts to move inventory. Mortgage Demand Has Collapsed The deeper signal is mortgage activity. The purchase application index is roughly 35% below its long term average and about 70% below its 2005 peak. Application volume has fallen toward levels last seen around 1995 even though the U.S. population is nearly 29% larger. Measured per person, purchase application activity is therefore about 22% lower than it was three decades ago. In practical terms, a much larger country is producing nearly one quarter fewer mortgage applications per capita. This is not a lack of interest in owning a home. It is a failure of affordability. Mortgage rates were around 7.5% to 8% in 1995, but the median new home cost roughly $133,000. Today rates are somewhat lower, yet home prices are more than three times higher. Monthly payments have risen much faster than household incomes, while down payments, taxes and insurance have become larger barriers of their own. Transactions Usually Break Before Prices The historical pattern is that housing volume weakens before home prices fully adjust. That happened during the 2006 to 2008 downturn. Buyers disappeared first, inventory accumulated later, and prices fell more decisively once unemployment rose and forced selling increased. Today the mortgage lock in has delayed that process. Owners with low rates are holding properties off the market, preventing inventory from rising enough to clear prices. Builders do not have that luxury, which is why they are cutting first. Why Lower Rates May Not Be Enough Lower mortgage rates alone could bring sidelined buyers back and place another floor under prices. Real affordability requires both lower financing costs and lower home prices relative to income. That combination usually appears when the economy is weakening. Rising unemployment reduces household formation, forces some owners to sell and breaks the lock in effect. Inventory rises just as demand falls. Mortgage rates decline because growth and inflation are deteriorating, but lending standards tighten and fewer people feel secure enough to buy. That is the cruel part of the housing cycle. Homes become more affordable only after buyers become scarcer. The people who benefit most are those who retain employment, liquidity and access to credit through the downturn. Hormuz Could Accelerate The Reset A sustained Strait of Hormuz disruption would intensify this process with a lag. Higher oil prices raise gasoline, freight, airline, food and production costs. Households lose discretionary income, businesses see margins compressed and hiring slows. At first, the inflation shock could keep long term yields and mortgage rates elevated even as demand weakens. Later, if unemployment continues to rise and consumption deteriorates, rates would fall because the economy is breaking beneath the surface. That is the most likely path back to affordability. Not a painless return to cheap mortgages, but a recessionary reset in which employment weakens, forced supply increases and falling rates arrive too late to protect everyone.

Housing Affordability Will Return the Hard Way New homes selling for less than existing homes means builders are being forced to respond to the market before homeowners are. Builders carry construction loans, land costs, payroll and unsold inventory. They cannot wait indefinitely, so they cut prices, reduce square footage and offer mortgage rate buydowns. Existing owners with 3% or 4% mortgages can simply refuse to sell. Price discovery is therefore appearing first in new construction while resale prices remain supported by restricted supply. The comparison is not perfectly equal because new homes are increasingly smaller and concentrated in lower-cost regions. Even so, the reversal matters. A market that historically placed a premium on new construction now requires discounts to move inventory. Mortgage Demand Has Collapsed The deeper signal is mortgage activity. The purchase application index is roughly 35% below its long term average and about 70% below its 2005 peak. Application volume has fallen toward levels last seen around 1995 even though the U.S. population is nearly 29% larger. Measured per person, purchase application activity is therefore about 22% lower than it was three decades ago. In practical terms, a much larger country is producing nearly one quarter fewer mortgage applications per capita. This is not a lack of interest in owning a home. It is a failure of affordability. Mortgage rates were around 7.5% to 8% in 1995, but the median new home cost roughly $133,000. Today rates are somewhat lower, yet home prices are more than three times higher. Monthly payments have risen much faster than household incomes, while down payments, taxes and insurance have become larger barriers of their own. Transactions Usually Break Before Prices The historical pattern is that housing volume weakens before home prices fully adjust. That happened during the 2006 to 2008 downturn. Buyers disappeared first, inventory accumulated later, and prices fell more decisively once unemployment rose and forced selling increased. Today the mortgage lock in has delayed that process. Owners with low rates are holding properties off the market, preventing inventory from rising enough to clear prices. Builders do not have that luxury, which is why they are cutting first. Why Lower Rates May Not Be Enough Lower mortgage rates alone could bring sidelined buyers back and place another floor under prices. Real affordability requires both lower financing costs and lower home prices relative to income. That combination usually appears when the economy is weakening. Rising unemployment reduces household formation, forces some owners to sell and breaks the lock in effect. Inventory rises just as demand falls. Mortgage rates decline because growth and inflation are deteriorating, but lending standards tighten and fewer people feel secure enough to buy. That is the cruel part of the housing cycle. Homes become more affordable only after buyers become scarcer. The people who benefit most are those who retain employment, liquidity and access to credit through the downturn. Hormuz Could Accelerate The Reset A sustained Strait of Hormuz disruption would intensify this process with a lag. Higher oil prices raise gasoline, freight, airline, food and production costs. Households lose discretionary income, businesses see margins compressed and hiring slows. At first, the inflation shock could keep long term yields and mortgage rates elevated even as demand weakens. Later, if unemployment continues to rise and consumption deteriorates, rates would fall because the economy is breaking beneath the surface. That is the most likely path back to affordability. Not a painless return to cheap mortgages, but a recessionary reset in which employment weakens, forced supply increases and falling rates arrive too late to protect everyone.

EndGame Macro

251,304 Aufrufe • vor 1 Monat

Wolfers: "Remember the president came to power saying, 'I will reduce the cost of living on day one.' Well, the expectation that interest rates are going to be higher in the future—that's already being priced in by markets, which is to say that anyone who's out there trying to negotiate a new mortgage right now, you're going to get a much worse deal than you would have three, four, five months ago. And that's precisely because of the president's actions. So it's just another way in which the president has sort of said, 'I'm for affordability' and quietly done the opposite."

Wolfers: "Remember the president came to power saying, 'I will reduce the cost of living on day one.' Well, the expectation that interest rates are going to be higher in the future—that's already being priced in by markets, which is to say that anyone who's out there trying to negotiate a new mortgage right now, you're going to get a much worse deal than you would have three, four, five months ago. And that's precisely because of the president's actions. So it's just another way in which the president has sort of said, 'I'm for affordability' and quietly done the opposite."

MeidasClips

38,012 Aufrufe • vor 2 Monaten

This is the definition of Gaslighting by Fox News and Karoline Leavitt. Listen to Karoline Leavitt try and defend the price of gas jumping, by changing the subject to Joe Biden and claiming that we’ve only seen a slight increase in gas prices. Gas was $3.13 when Joe Biden left office. Today it’s $3.45. “The impact of this war is affecting Americans through the increase in the price of oil. What is the President expecting to do to reign in those prices right now where we are watching and waiting for those midterm elections in November.” Karoline Leavitt: “The President inherited the worst affordability crisis in our History from Joe Biden… This is a slight disruption.”

This is the definition of Gaslighting by Fox News and Karoline Leavitt. Listen to Karoline Leavitt try and defend the price of gas jumping, by changing the subject to Joe Biden and claiming that we’ve only seen a slight increase in gas prices. Gas was $3.13 when Joe Biden left office. Today it’s $3.45. “The impact of this war is affecting Americans through the increase in the price of oil. What is the President expecting to do to reign in those prices right now where we are watching and waiting for those midterm elections in November.” Karoline Leavitt: “The President inherited the worst affordability crisis in our History from Joe Biden… This is a slight disruption.”

Ed Krassenstein

357,378 Aufrufe • vor 6 Monaten

Affordability is the new DC buzz word Trump took steps to address housing last week, now has announced a proposed 10% cap in credit card interest rates. He’s taking the issue head on but I note some issues to be careful of We will discuss this week on The Sean Spicer Show

Affordability is the new DC buzz word Trump took steps to address housing last week, now has announced a proposed 10% cap in credit card interest rates. He’s taking the issue head on but I note some issues to be careful of We will discuss this week on The Sean Spicer Show

Sean Spicer

49,886 Aufrufe • vor 8 Monaten