You're +8% year-over-year in both numbers, a little bit higher for PI. We'll see that on Thursday. If we see good news, if we see inflation peak and so forth, we should expect to see some modest rally. But then we're going to have to monitor the later on wages.
People have to focus on wages and, again, the housing prices and the home affordability is going to be the big issue going forward, particularly in Q2, home affordability is among the lowest we've ever seen and this is going to be a continuing problem, and particularly those at the entry points, they're exposed. If they lose jobs, they have very little slack to fall back on.
Source: News Formal (newsformal.com)
Not to mention property taxes and home Ins going up because of the overinflated Real Estate market!
No, it will become what one is willing to pay + natural order of things (i.e. death, job move, financial problems) will bring comps. So when running a CMA or LL for multi-family look NOI, it will lower significantly
I’ll take that bet. 6% mortgage rates, a looming recession, and the fed openly selling mbs off its balance sheet is gonna put the housing market in a tailspin within 18 months. Book it!
FB market place ppl on welfare and WIC are selling their stock piles of baby formula!!!👀
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