What higher-for-longer rates mean for the housing market

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  • Опубліковано 21 жов 2024
  • As JPMorgan Chase & Co. (JPM) CEO Jamie Dimon highlighted his fears of a messier inflationary environment regarding interest rates in his annual shareholder letter, what kind of picture do higher-for-longer rates paint for the future of mortgage rates and the US housing market?
    Meredith Whitney Advisory Group CEO Meredith Whitney - previously dubbed the "Oracle of Wall Street" for predicting 2008's Great Financial Crisis - sits down with Yahoo Finance to discuss the elevated mortgage rates and the biggest factor that could stimulate inventory levels in US real estate markets.
    "This is something I have been working on a lot lately, which is an increasing financial strain amongst households over 60. So you've seen a big jump in overall debt loads carried by households over 60 and as a proportion of total debt, that's doubled over the last 20 years," Whitney explains. "So I think you're going to see due to financial strain, more seniors having to downsize, and that's going to put more supply in the market."
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    #housingmarket #yahoofinance #interestrates

КОМЕНТАРІ • 53

  • @nickvin7447
    @nickvin7447 6 місяців тому +33

    It means people that thought they were going to be able to refinance will not be able to.

  • @Jake-pf4kv
    @Jake-pf4kv 6 місяців тому +30

    But realtors said you can refinance later😂

    • @jonathanmack6285
      @jonathanmack6285 6 місяців тому +3

      Correct never trust a realtor. Of course they’ll say things like “you can always refinance”, or “if the market crashes you can just rent out your property”…yeah right. Good luck hanging your livelyhood on whether someone will pay your mortgage or not…buying right now isn’t smart unless you find a good deal. Not seeing them in my area

    • @humanbeing5300
      @humanbeing5300 6 місяців тому +1

      Realtors up there with lawyers and insurance salesman in my book

    • @shirleyshirley4188
      @shirleyshirley4188 6 місяців тому

      You an when rates go down.

    • @Jake-pf4kv
      @Jake-pf4kv 6 місяців тому

      @@shirleyshirley4188 but when?

    • @shirleyshirley4188
      @shirleyshirley4188 6 місяців тому

      @@Jake-pf4kv . Realtors have no control of when. The fed and current administration has everything screwed up. I paid almost a dollar for an apple today at Walmart. Everything is bad.

  • @kimmberrleeohthatsme5493
    @kimmberrleeohthatsme5493 6 місяців тому +5

    People are foolish betting on low interest rates. There will be no housing crash. Investors are ready to engulf any inventory to serve it's agenda.

  • @Seanpfree
    @Seanpfree 6 місяців тому +1

    It means THE END of first time home ownership for ppl like me and the slow death of the middle class.
    35 yrs old native Tennessean put in 73 bids for first home over past 4 years ALL LOST to cash investors. We've decided to put off starting a family until we're in a home to build financial stability. We've realized our chance to buy a home has passed us by.

  • @Mike_Genisys
    @Mike_Genisys 6 місяців тому +2

    Downsizing won't occur will occur at a slower rate, most will elect to stay in place. The ARM loans are the folks who are going to get squeezed.

  • @toddgammons9400
    @toddgammons9400 6 місяців тому +11

    "You will own nothing and be happy"

  • @EdwinGarcia-bn2lw
    @EdwinGarcia-bn2lw 6 місяців тому +17

    Nothing will pop.. house prices today is the new average

    • @jonathanmack6285
      @jonathanmack6285 6 місяців тому

      They will pop when banks go under…too much stress on these banks and they know they aren’t getting the payments they need. Many banks are already becoming insolvent…no more BTFP either

    • @shanerogers9386
      @shanerogers9386 6 місяців тому +2

      Then war on flippers, investors, their families and their properties it is.

    • @xiphoid2011
      @xiphoid2011 6 місяців тому +1

      ​@shanerogers9386 don't be a hater

    • @Mike_Genisys
      @Mike_Genisys 6 місяців тому +1

      If it pops soo many local government budgets pop as well.

  • @jsnb6489
    @jsnb6489 6 місяців тому +3

    Where are the older people going to move and down size to?
    Her analysis makes no sense.
    That will put more pressure on the smaller starter homes that first time buyers are looking for

    • @gabrielmuller943
      @gabrielmuller943 6 місяців тому +3

      I don't know. Maybe a 72 year old no longer needs 2,800 sq ft place. Maybe an apartment of 1,000 sq ft would make more sense.

    • @shirleyshirley4188
      @shirleyshirley4188 6 місяців тому

      Why should they move? It's their home! They paid for it.

    • @Donkiko-bz1lv
      @Donkiko-bz1lv 6 місяців тому

      @@shirleyshirley4188 no enough money 💰

    • @Ken-vl4wk
      @Ken-vl4wk 6 місяців тому

      @@shirleyshirley4188 maintenance, insurance cost

  • @charleswr8359
    @charleswr8359 6 місяців тому

    Realtors claiming $48,000 on a $800k house is a huge burden on the homeowner. Realtors should charge about $3,000 for connecting the buyer to the seller.

  • @One_Cebu
    @One_Cebu 6 місяців тому

    Housing prices will continue to go up. Law of Supply and Demand. So many people waiting and wanted to buy but who’s selling?

  • @ThomasPaine-wc4we
    @ThomasPaine-wc4we 6 місяців тому +2

    As long as people locked in low rates, sub 3% the inventory is going to remain very low as no one wants to sell.

    • @trell019
      @trell019 6 місяців тому

      No need to sale if you can't pay for it

    • @jacobnapkins1155
      @jacobnapkins1155 6 місяців тому

      Not really new construction is way up they're just going to keep building tell prices drop

  • @cremephoto
    @cremephoto 6 місяців тому +8

    The transfer of wealth is held hostage

  • @flowerlee4727
    @flowerlee4727 6 місяців тому +5

    It’s time for real estate to correct 30%

  • @peej91
    @peej91 6 місяців тому +1

    How about the percentage of homes owned by investors?

  • @mikebostic9518
    @mikebostic9518 6 місяців тому

    How about lower rates to help with housing affordability.

  • @sheepman6291
    @sheepman6291 6 місяців тому +6

    Only 19% of seniors who are 65 and older have a mortgage.

    • @Openminder321
      @Openminder321 6 місяців тому +3

      Even if your property is debt-free, those on fixed income are burdened by rising property tax and insurance.

  • @JS-jh4cy
    @JS-jh4cy 6 місяців тому +1

    Higher for longer, means going bankrupt later

  • @Swagalious689
    @Swagalious689 6 місяців тому

    Increase rates!!!!we need deflation not inflation.

  • @shirleyshirley4188
    @shirleyshirley4188 6 місяців тому

    They mean nothing. What matters is inflation. People are broke.

  • @odessajackson4551
    @odessajackson4551 6 місяців тому

    Banks need money back from cheap mortgage interest rates and theses student loans that aren't being paid back...so they don't go under.. that's what Jamie Dimon from Chase is really worried about..

  • @RM-nm3xn
    @RM-nm3xn 6 місяців тому +2

    Smart guest.

  • @starship519
    @starship519 6 місяців тому +7

    Housing is a bubble that must pop

    • @incipidsigninsetup
      @incipidsigninsetup 6 місяців тому +1

      A bubble implies that there is no longer a sensible correlation between price and demand. If that were true, the first sign would be cheaper rents, and the cost to rent is increasing. The high cost of housing isq1 due to currency debasement and inflation greatly outpacing wage growth.

    • @starship519
      @starship519 6 місяців тому

      @@incipidsigninsetup demand is falling rapidly. Its als being manipulated

    • @starship519
      @starship519 6 місяців тому +2

      @@incipidsigninsetup housing prices are directly effected by inflation. The bubble must pop

    • @taffyalusa4642
      @taffyalusa4642 6 місяців тому

      @@incipidsigninsetup I have a rental, we had to reduce rent by $325 a month. a
      popular fl area/

  • @nonexistent5030
    @nonexistent5030 6 місяців тому

    Fed lost control of high duration portion of curve a long time ago. Yellen holding on to it for dear life. Bond vigilantes in the driver seat this next decade.

  • @joseph2707
    @joseph2707 6 місяців тому

    Very smart lady and good questions.

  • @SL-fh7yv
    @SL-fh7yv 6 місяців тому

    All I have to say is just stop being greedy

  • @ahsugoi
    @ahsugoi 6 місяців тому

    One of the worst housing takes I've heard in a while.

  • @youtubetim3577
    @youtubetim3577 6 місяців тому

    Fear monger some more, rates not going up and house prices not going down get a clue lady.

  • @peterbedford2610
    @peterbedford2610 6 місяців тому

    Inflation. Higher for longer

  • @jamesbryson575
    @jamesbryson575 6 місяців тому +1

    Oh Jamie, you and your bankster friends created a lot of this crisis. Thanks for your "concern"...bleh!

    • @archie_bunker
      @archie_bunker 6 місяців тому

      finally someone i can agree with and gets it