Happy Monday Morning! Another massive week in the rates market with the US Federal Reserve jacking rates up another 75bps. While this was expected, it was the stark comments from Jerome Powell that really shook markets. Powell basically, in a polite way, said Americans need to endure some economic pain, including job loss, to slow demand and get inflation down. Furthermore, he wants to see a correction in the housing market.
Steve as always being a realtor is fixated on sales. The bottom line is, prices need to be corrected. He never complained when market was red hot and was busy making big bucks. Inflation is too high and central banks do not want people to spend, they do not want money to be circulating in the market. As a result, your real estate sales have to plummet, I get it hurts you, it's your bread & butter, you gotta eat as well, but for now, you'll have to reduce your appetite. Banks are doing the right thing flushing out all the wealth you built on hoarding real estate through higher interest rates. Inflation is not hurting you since you can take vacations in Italy, it is hurting the middle class living on rents and paychecks. Grow up boy, get real.
Try reading the article over again Tom. It’s pretty clear you didn’t understand the tone of the information portrayed and extrapolated your biased views on Realtors in your reply.
Steve as always being a realtor is fixated on sales. The bottom line is, prices need to be corrected. He never complained when market was red hot and was busy making big bucks. Inflation is too high and central banks do not want people to spend, they do not want money to be circulating in the market. As a result, your real estate sales have to plummet, I get it hurts you, it's your bread & butter, you gotta eat as well, but for now, you'll have to reduce your appetite. Banks are doing the right thing flushing out all the wealth you built on hoarding real estate through higher interest rates. Inflation is not hurting you since you can take vacations in Italy, it is hurting the middle class living on rents and paychecks. Grow up boy, get real.
Try reading the article over again Tom. It’s pretty clear you didn’t understand the tone of the information portrayed and extrapolated your biased views on Realtors in your reply.
You sound a little bitter