Today, in the Calculated Risk Real Estate Newsletter: Fed Chair Powell: “Homebuyers need a bit of a reset”
A brief excerpt:
Here are some interesting comments on housing from Fed Chair Jerome Powell today. This is a quick transcript – sorry for any errors – the video is here and the discussion on housing starts around 1:51:00.
…
Powell: …“I’d say if you are homebuyer, somebody or a young person looking to buy a home, you need a bit of a reset. We need to get to back to a place where supply and demand are back together and where inflation is down low again, and mortgage rates are low again.
This will be a process were by ideally, we do our work in a way were the housing market settles in a new place.
There is much more in the article. You can subscribe at https://calculatedrisk.substack.com/