🚨 Q4 2023 Market Update 📊
Q4 2023 RE Market Update 🚨
With mortgage interest rates hovering well above 7% as of December 2023, there’s a reason why many people are talking about the real estate market and economy these days. 📉
1. Housing Supply Shortage 🏠
2. Lock-In Effect Is Real 🔒
3. Prices have stabilized since Q4 2022 📊
4. Millennials are largest cohort of home buyers 👫
5. Fed will keep interest rates elevated for longer 🏦
** BIG CAVEAT ** - Ensure you don’t become house-poor and are stretched too thin and ALWAYS have enough reserves set aside for a rainy day.
Remember that wealth is built over time.
These thoughts aren’t exhaustive by any means and I’ll have more updates for you.
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