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All Good Things Come to an End...or At Least Slow Down a Bit...

All Good Things Come to an End...or At Least Slow Down a Bit...

Over the past 18-24 months the real estate housing market has done some things we'd have never thought possible, and now that inflationary pressure has infiltrated this market the results come as no surprise either.  The Federal Reserve Board and the Federal Open Market Committee (collectively the FED going forward) have raised interest rates already several times as a result of crushing inflationary pressure that is taking hold right now.  The market nationwide began a perilous climb in prices and a corresponding decrease in inventory as the pandemic hysteria took hold and the mass exodus from urban centers began in knee-jerk fashion.  Sales and Buying practices that have only been considered in the past became commonplace, then coupled with the previous historically low interest rates prices began and continue to soar.  Now that it's plainly evident that our current levels of inflation are not "transitory" at all, the Fed has begun to raise rates far quicker and higher than previously anticipated.  David Yun, Chief Economist for The National Association of RealtorsĀ® (NAR) has stated that this toxic combination of both escalating prices and interest rates has resulted in the cost to purchase home to be 25% higher than this time last year.  Not surprisingly, inventories have begun to claw back as a result, but this is NOT the way to bolster housing supply and because of the overall percentage of the economy that is tied to housing, the next several months remain perilous in more ways than one.  As if real estate planning wasn't hard enough, this just happened.  Consult with your family, friends, partner, RealtorĀ®, Lender, and whomever else you need to because the moves you make going forward need to be considered more than ever in this current economy.  #PropertyGuerilla #InterestRates #Housing #NAR #Realtor #TheFed #Inflation   

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