Fed shock creates massive move in Mortgage Rates
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- Опубліковано 6 вер 2024
- This is a Data centric Analytical approach to the Nashville Tn Housing Market. We look at trends in active listings, median price, mortgage rates, contracts, rent rates
Ethan Flynn
www.ethanflynn.com
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tflynn@realtracs.com
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DANA JORGENSEN
PRINCIPAL BROKER | OWNER
LICENSE: 344195
(615) 496-3837
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#housingmarketupdate #nashville #housingcrash #housingmarket
This is THE END of first-time home ownership and the slow death of the middle class in a generation.
I hope not.
Quote, "You will own nothing and you will be happy." You can find it on the internet.
Wait!!! It's Monday!!! What a treat.
Happy Monday!
🎉🎉🎉 Hate to say it but nothing is surprising me anymore in Tennessee. Thank you for the extra post.
Have a great week and let’s get ready to see double digits.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
8% please. I cannot fathom double digits.
Could you do a bit of an analysis of cost of rent vs avg/median mortgage cost here in Nashville? I'd be curious to see which areas where those two numbers are furthest away from each other and what areas where they're close. Those two numbers got pretty far away from each other over the past few years, is it going to start going back to the mean?
I actually have a neighborhood tracker that will show this. It’s hard to cover across Nashville because it can literally vary by neighborhood significantly. Feel free to reach out. I’d be happy to share it with you.
do you think oracle setting up a world headquarters here will cushion the housing declines here compared to other market? that can start a huge tech boom here and nashville can easily become the new austin.
I’m very bullish real estate in Nashville long term. Rents/incomes have to come up and/or prices have to drop. I think we likely get a combo of all of it and Nashville will fare better than avg for a correction. Oracle moving here is just another sign of the trend. Nashville is still very small compared to the metros thet people are coming from. It doesn’t take a lot to move the needle here.
I doubt it as it will only be a few jobs and if you think of it. Most will probably be tranfers from where they were prior to. There will be a few new jobs but not many.
@@majordddd in a way you are right, it will only create about 8,500 jobs, and many people will be transferred over. however, i also think many other tech companies will follow. it just takes one established company to set up base to bring others over. just think of the vendor jobs it will bring in for companies that work with oracle. a lot of them will set up regional offices to serve oracle. i honestly think nashville will blow up even more so than it already has in the next 10 years.
@@clyde19788 however how many of the jobs will be prefilled with current employees. It wont create 8500 jobs. It will only create new jobs when someone isn't transfered over. Also many tech companies are switching over to ai and outsourcing more.
Thanks for the update!
You’re welcome!
I thought everybody would check out after 5 percent mortgages
Yeah me too. I actually have studied this for 2.5 years and here’s my conclusion. Demand increases as rates rise until we break to a new high. That new high is breaking 8%. Once that happens demand will crater until rates bottom and begin to rise again.
I’m getting a 7.97% 5/1 right now. Investment loan.
Wow! For a single family residential?
@@EthanFlynn yes, commercial loan
LET’S GO BRANDON!
I never know what to think anymore. You’re always data backed and I appreciate it. But it seems like one video you’re bullish and the next you’re a grizzly bear.
My head hurts. Good thing I’ve got a 0% mortgage so I don’t have to worry about it.
Sorry to whipsaw. I can see why you say that. Here’s a few of my personal views that may help clear what I say.
Davidson County -> bearish. Prices will very likely drop.
Williamson County -> bullish. Embrace any price drops.
Nashville in general-> will be much better than average in the long run.
Macro -> bearish, the next decade is going to be painful tax increases inflation and recession.
USD -> bearish. Dollar crashing means housing skyrockets. We are going to actually have to pay for gov services. This has never happened in our lifetime.
Seasons -> Spring prices jump. Fall prices drop.
@@EthanFlynn pay for government services? Like what?
I’d pay for the government to quit providing “services” lol. Less government is better for everyone imo.
I’m a 5th or 6th generation Wilson County native. I know growth is going to happen but it’s not recognizable to my childhood and I’m in my early 30s. It’s sad. This may be the last generation that calls middle TN home.
🤣 I’d pay for them to stop too.