You might be able to make huge deals in commercial property the next few years but residential property is still undersupplied. Mortgage rates are still under annual housing inflation rates so the longer you wait the harder it will be.
The spread on interest rates is still going to hurt your small banks and credit unions. I refi'd the lake house with Security Service 2 years ago at 2.38% on 15 years. They kept the loan in house. They are now having to offer 5.5% on 16 month cds to get deposits. That has to hurt.
Yeah I got lucky on my chauffer's condo in Aspen like that too
After the core inflation report this morning odds are the fed will raise another quarter point next month.
It's working though. We're projected to be ~1% lower than last year. Gotta get to < 4%.
OMG your chauffer settled for a condo? thoughts and prayers
It's tough out there
You got so lucky they are only charging you 24% on your credit card balances.
Went from it's transitory to we just got get it below 4%
It is transitory since it was below 4% before the last GOP POTUS destroyed the economy per par...Went from it's transitory to we just got get it below 4%
Nolife,,,,
NoLifer,,,,,
^ the schtick continues
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He has been trying real hard to paint his "enemies" as losers. Someone really hit a nerve because he has been melting down hard for a month.
Probably not.
I don't recall "all those articles about wages"... I do remember about strong job and record unemployment, which has not been revised...
https://ritholtz.com/2023/06/labor-costs-inflation/“Tight labor markets have raised concerns about the role of labor costs in persistently high inflation readings. Analysis shows that higher labor costs are passed along to customers in the form of higher nonhousing services prices, however the effect on overall inflation is very small. Labor-cost growth has no meaningful effect on goods or housing services inflation. Overall, labor-cost growth is responsible for only about 0.1 percentage point of recent core PCE inflation.”
Fascinating research from the San Francisco Federal Reserve Bank, pondering the impact of wage gains on inflation.
Counterintuitively, they found that rising wages have a minimal impact on inflation. How little? The study found that a “1% point increase in labor costs causes only a 0.15% rise in core PCE inflation” over four years – an increase of less than 0.04% annually.
very good jobs report this month as well. and even with all the added jobs, unemployment ticked up slightly to 3.7%. makes sense given that the labor participation rates were also up. prime age participation is the highest its been in over 20 years, now better than the leadup to the great recession.
fed meets in ~1.5 weeks, which is also when we'd get the may inflation numbers. if that number ticks below april's 4.9%, i imagine they will hold off on raising rates again
I hope not but you may be right
I think they'll raise interest again. Maybe a quarter. The idea is to be aggressive until you see a measurable cool-down.
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