Summary:
I invite Wolf Richter to join us for this episode, and he gives a complete run-down on the housing market—which is up 20-30%, and subject to fluctuate even more due to interest rates. We’re seeing that the current inclination (from the perspective of the courts) is to not foreclose on a property. In consideration of how prices have changed the housing market, a relatively small number of mortgages are affected by the price increase. Tune in for more expert knowledge on what to expect in this sector.

Highlights:
-Housing prices are up 20-30%; will interest rates destroy the housing market?
-When you look at prices, it’s always a look back—it doesn’t mean that they will stay the same way
-Mortgage applications for purchases are down 17% from a year ago
-There’s going to eventually be fewer potential buyers
-The inclination now is to not foreclose on a property; people get away with this by selling their property for a higher price
-A relatively small number of mortgages are affected by the price increase
-Rents are a much more liquid measure—especially asking rents

Useful Links:
Financial Survival Network
Wolf Street