#mortgages #interestrates #yahoofinance
Kinloch Partners Co-Founder & CEO Bruce McNeilage joins Yahoo Finance Live anchors Rachelle Akuffo and Seana Smith to discuss how Fed rate hikes are affecting the housing market.
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And add in the cost of the Twitter blue checkmark and the consumer will need to decide between housing and a blue Twitter checkmark. Obviously they will go with the blue checkmark.
Plot Twist. No one uses Twitter.
@Floridajames04 LOL. Neither do I. This was mainly a joke about all the time Yahoo Finance spends on this subject.
Gotta start selling $58 sweatshirts like AOC
so it sounds like the fed’s monetary policy is working.
This guy acts like his company cannot sell houses, but they can lower prices.
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I guess you have them went out and purchase building materials. That’s why you cannot reduce the prices of homes. They have tripled
@Millennial Money Making You haven’t built a thing in your life.
*Colorado Springs, CO Housing Prices Crater 22% YOY As A Decade Of Appraisal Fraud Surfaces Rattling Brokers*
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Stocks does not depend on the govt?? :))))..is this a joke? Just look what the FED did yesterday with the market. And it is not just about the 0.75 increase as they were already priced in, it’s about how they communicate. Immagine what other ways they have to manipulate the market… They just presented the increase in a bad way and Wall Street went crazy.
Problem is sellers still think that they can still get away with selling with prices from more than 6 months ago
Their cost is already there. I don’t think many of them has room to cut prices without suffer a loss. That being said, they should suffer a loss now. They’ve been reaping huge profits for two years. It’s time to gave back what’s not theirs.
@Steve Baughman buy now think later lol
Market takes several months to take into account one large change in rates. We have had 4! April 2023 earliest time to see true built in effects of policies from May- December
@Micah Alba do the math. People can’t buy the house that is selling. A 400k loan at 2% interest has a house note (without taxes) of 1500. The house note for 200k loan at 8% is the same price. If the fed don’t change the price tag will.
@Micah Alba Are you sure?;)
*Colorado Springs, CO Housing Prices Crater 22% YOY As A Decade Of Appraisal Fraud Surfaces Rattling Brokers*
The “folks in the real estate industry” have no sympathy from me for how long and how much they’ve been rolling in profits. The whole world has to stop for them now because they can’t rake in the millions… Sick of this bs housing market. Can’t wait for January when student loan repayments go back in effect…that bs was beyond ridiculous.
I don’t know where you see and 20% discount I don’t see anything more than 5% anywhereYes you’re talking about detroit or someplace where nobody wants to move to
AGREED! Especially here in Las Vegas.
Prices are putting them out of reach. In a fair market someone could save for and buy a house outright without being in debt to lenders. Loans artificially inflate prices
People need to talk about this instead of killing the economy with for profit bank loans
It’s time to start converting apartments into condos again. Similar to prior to the last real estate bubble.
How can you say that the demand is there, that there are not enough houses that the people want to buy, if they cannot buy it?? I want a Lamborghini, many people want one..the demand is there, but we cannot afford to..it’s unrealistic. In conclusion the demand needs to be backed-up by the possibility to purchase a house. Otherwise we are talking just to not be quiet..
We’re going to see rent prices continuing to go up, if you can’t buy you have to rent.
@Matt lol. Both rents and real estate prices are showing signs of a hefty pullback. You could be looking at stagnating rents for years with a very likely recession. Saying that rents will be up in who knows how many years does not support a decision of buying a depreciating asset right now. I’m not a believer of timing bottoms or anything of the sort, but I see no reason to buy a property at both high rates and ridiculous prices. It puts you in a vulnerable position for an undeterminable amount of time.
Are you sure?;)
*Tustin, CA Housing Prices Crater 22% YOY On Soaring Inventory And Plunging Demand Across Orange County*
@Senior Housing Analyst specifically I was talking about rent projections, read my last comment
@Senior Housing Analyst California also had the highest home prices, so that is no shocker. Also, who that is sane would ever want to move to California?
@Matt As long as housing prices and rental rates continue cratering all is well.
*Tustin, CA Housing Prices Crater 22% YOY On Soaring Inventory And Plunging Demand Across Orange County*
Don’t Don’t Don’t = BUY, let the market CRUSH = You are paying the banks, it’s not your money money money
Builders are not discounting houses. They now have to lower prices to where the prices have to be to sell.
Prices! 30% plus price increase in 2 years. That’s the problem. Low rates for too long were the mistake. Prices need to come down. Realtors, brokers, etc. hurt themselves by fueling this bubble, spreading euphoria and FOMO. Even as we speak, most still attempt to do so, but unaffordability is deterring it. This is a bane for the first time home buyer, they just need to wait for prices to come back down to reality! Your down-payment will actually do something!
I can’t get past the fact that the CEO is televising from his bedroom. I realize we’re working from home these days, but….really??
Chinese people buy homes in California in cash, left and right, regardless of interest rates. The high-interest rates affect the middle class, nobody else. They gave out $1,400 in stimulus checks and we have to pay the price now.
Are you sure?;)
* Tustin, CA Housing Prices Crater 22% YOY On Soaring Inventory And Plunging Demand Across Orange County*
unfortunately. Those greedy sellers trying to sell the house for 34%-40 % up from 2 years ago. Please don’t buy from them.
Exactly. You would have to be stupid to buy a house right now.
I have seen houses in the Bronx New York that was sold in 1995 for $60.000. Now is the market for$650,000.
They need to lower their prices at least 30% or more
50%
look like 2008 again if you all look at the chart
Worse than 2008 according to economist
There is an easy solution to high payments….DROP THE PRICES of the overpriced homes!
That’s not going to happen.
@American556 Are you sure?;)
*Colorado Springs, CO Housing Prices Crater 22% YOY As A Decade Of Appraisal Fraud Surfaces Rattling Brokers*
@Senior Housing Analyst just pulled up Colorado Springs homes are actually up 26% year-over-year.
@American556 Are you sure?:)
*Aurora, CO Housing Prices Crater 18% YOY As Denver Area Housing Market Submerges In A Seething Pot Of Foreclosures And Mortgage Fraud*
House prices are inflated by 60% in the last 3 years. It need to come down significantly and the interest rates to be affordable for the 1st time buyers.
never going to happen- LAND- MATERIALS- LABOR- going up not down.
Please don’t listen to this guy. He’s conflating principles that no one with a basic foundation in economics should conflate… he is stating that “demand” is still high, but people can’t afford what they are “demanding”. If there if u can’t afford it, there is NO demand!!!! There is no demand!!!!
And his idea: make it easier for consumers to go deeper into debt at these interest rates to create demand.
Don’t listen. Hope this helps someone
Rates are not important what is important is that everyone says housing is in a crash and prices are still up on the year!
I’m Canadian, 2007-2008 housing crisis do to 6% reset mortgage rate…wait in 2013, bougth couple propertys in beautiful WestPalmBeach.
Original owner pay $180 000….got it from the bank in shortsale for $45 000 each..
75% rebate……….
Just wait in 2025-2026 for the turn arround and good deal
History repeat hitself…….this one will be massive…why…the FED could not help this time
It’s making 2008 look like a cake walk
N we still have 2. Maybe 3 more rate hikes…..😬
5:30 – “Too many houses built, not enough buyers”
5:42 – “There are not enough homes for people who want homes”
Make up your mind dude
yeah what the hell is he even talking about
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The Fed is only hurting the wealthy companies that stole all the housing out from under the little guy. This guys argument is for the rich investers and not for the people who need the houses.
Here in Australia, houses are three times more expensive than they should be.
You know what will put them back in reach? The upcoming crash.
Don’t get confused, the asset is inflated. 7.2% of $150000 is completely achievable. Assets are overvalued. How can you value something when interest rates are at .25? Greed comes home to roost
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Thanks for commenting
Inbox me right away!
Prices are the problem there trying to get the rates down so they can pump the prices of houses higher
Wait so if developers and builders dont build how do they get paid?
great video
This guy is a snake 🐍
He f**kin said there are too many house built then the next sentence was there aren’t enough houses! Idiot!
there will be more homeless people
Now? They are out of reach? Roflmao. Yall funny.
Man. Lenders successfully destroyed the market. It became a nightmare to the first time buyers. No matter how hard people work, they simply can’t afford a home. Swear to God, I hate someone controlling my fate by decreasing interest rates, squeezing inventory, jack up the prices and now squeeze more by increasing the interest rates. Such a shameful situation to be in.
Lenders are at the mercy of the fed just as consumers.
This stuff is like old news. We’ve heard the same story for the past 6 months 🤷🏻♂️
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Short, the middle class has been wiped out.
This is that is far more important is the price of homes.
It’s the Inflation that put the rates in this situation. Inflation is the enemy of interest rates. So as long as inflation is burning hot, rates will do the same. Prices that are way too high only added fuel to the fire.
Sellers have their heads so far up their rear end. How are you asking for more than a comparable house from Jan. 2022 price? LOL market has changed and no one is paying that much for your house! You deserve to get low ball offers over and over again.
Those poor people who reaped all the benefits of houses selling at record speeds for tens of thousands of dollars over asking price. Nobody in the housing industry were complaining when they were making more money then they ever have for overpriced homes but now they are mad about it. They were just as much a part of the problem.
How about you talk about the massive amounts of money investors dumped into the market to buy homes actually people wanted? This guy is a clown.
More Stupidity — is not mortgages that are doing this — BANKERS are doing this.
Yes! Cut the price of homes. The builders and Realtors robbed everyday people blind using the greed of Sellers and the FOMO of buyers. Bring on the price drops.
All you need to start doing is to stop selling 300K houses for 850K! I don’t want to hear bs excuses why.
👆👆 Let’s talk
Not out of reach… it’ll force people that bought a year or two ago for investment purposes to sell at a loss or minimal gain. It’ll add more supply to the market hence causing prices to drop. People should start saving money now and wait for prices to drop so that later you can drop a larger downpayment
The issue is the insane home prices which was enabled by low interest rates and all the cheering by these people. When the prices come down, then homes will be affordable again.
This is ridiculous. I didn’t hear a single real estate “guru” with words of concern about the low rates during the past two years. This was always the other side of the coin, always. Now that the time has come to revert back to the norm for home prices, lending rates, and supply, this is all the Feds fault? This was America greed from buyer, to seller, to mortgage broker, to builder, to the Fed. I don’t feel bad for anyone drunk off of cheap money.
Horrible reporting! They ignore the increases of the latest two years and the out of control buying process. This is a paid fluff piece.
Mortgage rates or prices? I’m pretty sure lower prices could put those homes back in reach
So is this a short term correction/crash? With the builder pausing on building, supply will not catch up with demand long term.
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“People we’re not ready for this?” “Turned on a dime?” Cmon this has been looming for a while now and way overdue. Most should have seen the ridiculous price increases, crazy emotional bidding wars and unsustainable pricing trends. This should have happened a while ago. I can’t imagine most didn’t see this coming.
Yes but price will eventually drop. The prices right now doesn’t make sense.
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Rates aren’t putting them out of reach. It’s the sellers that think their house is worth the same when buying power has been reduced by 40% since March! Your 600K house is only worth 450. Sorry
Houses were already out of reach. The increase in mortgage rates will help get rid of speculators. Hopefully in time the government can enact legislation that will prevent this toxic housing fiasco from ever happening again. Housing is a necessity. It should not become a ponzi conglomerate.
whether you mortgage is $1800 or $6800, if you don’t have a steady income, you’ll default. and with recession almost a certainty, this fact will hit sellers like a ton of bricks. all it takes is a one distressed seller to bring prices down to earth where they belong. housing is a such an predictably irrational asset type and as such loss aversion keeps the sellers anchoring on an inflated price that nobody is willing to engage them on anymore – so wait for some employment shuffling – layoffs, income deteriorations via pay cuts, underemployment, back to office commutes and more.
Wrong! housing prices are going to decline substantially and therefore they will become cheap again! What they are worried is losing value on their assets. High interest rates make rich less rich!
45 and mortgage free got mine done in 18 years 🙂
*Tustin, CA Housing Prices Crater 22% YOY On Soaring Inventory And Plunging Demand Across Orange County*