Housing stocks are rising following Federal Reserve Chair Jerome Powell's dovish comments at the Jackson Hole Economic Symposium on Friday, which signaled...
Housing stocks are rising following Federal Reserve Chair Jerome Powell 's dovish comments at the Jackson Hole Economic Symposium on Friday, which signaled interest rate cuts to come that couldWith the US housing market in need of relief, HousingWire lead analyst Logan Mohtashami joins Market Domination to discuss the potential. He explains that when rates fall, homebuilders can"sell homes like a commodity," while existing homes"do not have that ability.
So the new home sales have been able to grow from the bottom of 2022 where the existing home sales have been kind of hovering around the 4 million levels since then. And we've already seen some of the kind of the positive expectations going out in the future now that the Federal Reserve will probably be in a rate cut cycle.The spreads have been historically bad for some time.And what is the other catalysts for the rebound that we could see in the housing market?Is it all tied to mortgage rates or are there other things at play here?So you have such a low bar to move from, but really it is rates like the history of nominal home prices falling.
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