On this week’s episode of the Knowledge Broker’s Podcast, Byron Lazine and Tom Toole start things off by discussing the latest Fed meeting and why Lawrence Yun considers the latest 25 basis-point rate hike good news for home buyers waiting for mortgage rates to drop.
Today’s second topic is the drop in inventory and what that means for home buyers and sellers, followed by the jobs report for January 2023, with unemployment hitting 3.4%, the lowest level since May 1969.
Next up, they discussed the decline in home showing traffic, which is still above seasonal pre-pandemic levels.
They wrapped up the conversation with a Fortune article on the second-biggest home price correction since World War II.
Click on any of the timestamps below to watch:
00:29 Topic #1: The Fed’s recent rate hike
02:45 It’s still the highest inflation in 40 years
05:33 Lawrence Yun’s prediction (and how he and Logan M are on the same page)
08:01 Topic #2 Falling inventory & bidding wars
09:37 Unemployment hit 3.4% – the lowest level since May 1969
10:25 I’d have 2-3 partners, and I’d have conversations with them daily.
14:50 Topic #3 The jobs report: “Are we entering a job market bubble?”
15:49 Topic #4 Showing traffic is down but still above seasonal pre-pandemic levels
22:57 Topic #5: Second-biggest home price correction since WWII
24:48 Headline + “Here’s why it doesn’t matter in X market…” What should come next?
29:10 That $500/month savings is 11.08% of the median household take-home income
Click here to watch the full episode.