This week on the Knowledge Brokers Podcast, Byron Lazine, Lisa Chinatti, and Tom Toole kick things with the latest CPI data, which shows definite progress in lowering inflation, especially if we remove the outdated measure of “owner’s equivalent rent.”
Next, they covered expectations for the July FOMC meeting, the Fed’s (outdated) playbook, and the latest Fannie Mae report on consumer confidence, showing people may be coming to terms with higher home prices and mortgage rates.
From there, they discussed the MLS PIN decision and changes coming to buyer/listing contracts, as well as lagging technology development for the real estate industry.
Finally, they covered the Boston mayor’s pilot program to incentivize converting office buildings for residential use, and whether this could be an effective solution to the dual problem of empty offices and low housing inventory.
Click on any of the timestamps below to watch:
00:40 CPI data—lower than expectations—and resulting rate drop
01:52 WSJ article comparing how we measure inflation and how Europe does
05:12 Expectations for the July FOMC meeting
06:02 The Fed’s (outdated) playbook
09:26 Consumers have come to terms with higher rates
12:37 Consumer sentiment: 78% believe it’s a bad time to buy
13:25 The person asking the questions steers the conversation
15:06 When rates go lower, competition will increase
17:58 MLS PIN decision
25:38 Changes in buyer/listing contracts coming
27:17 Tech for the real estate industry has some catching up to do
31:09 Agents are needing to adjust to a new landscape & a new way of doing business
32:39 Boston mayor’s incentive the conversion of office buildings to residential units
Click here to watch the full episode.