Great insight as always. Between the rising interest rates now and with so many people that refi'd 2 years ago to under 3% that don't want to move up/down and loose that rate- it's going to be a weird RE market for some time to come.
I agree this point has been picked up by many finance gurus. If you sell, you can't move laterally because you would end up with a higher payment in addition to paying the usual fees. People are trapped in their homes else have to move a a lower price area.
@@ColdPotato another thing I've seen predicted is a lot of RE agents getting out of the biz- no volume or turn-over, no commissions. '24 is going to be a wild ride.
Great insight as always.
Between the rising interest rates now and with so many people that refi'd 2 years ago to under 3% that don't want to move up/down and loose that rate- it's going to be a weird RE market for some time to come.
Thank you! Yes, I think you’re right. We’ll see what the fed does next month…
I agree this point has been picked up by many finance gurus. If you sell, you can't move laterally because you would end up with a higher payment in addition to paying the usual fees. People are trapped in their homes else have to move a a lower price area.
@@ColdPotato another thing I've seen predicted is a lot of RE agents getting out of the biz- no volume or turn-over, no commissions.
'24 is going to be a wild ride.