Real Estate News 10/20/2023

Today’s News Synopsis:

The Federal Reserve faces potential policy pitfalls ahead as it wrestles with how to respond to investor angst about the US government’s $33.5 trillion mountain of debt.

In The News:

Yahoo Finance – “Wall Street concerns over swelling U.S debt put Fed in tight spot” (10-18-2023)

“The recent surge in 10-year Treasury yields will dampen economic growth, similar to a Fed rate hike. Bloomberg Economics estimates the increase since the Sept. 19-20 FOMC meeting, if sustained, should reduce the need for 50 basis points of interest rates.”

Forbes –  “Housing Prices: How high is too high?” (10-20-2023)

“It looks as though Wall Street has given up on residential real estate. In 2021 and 2022, investor enthusiasm seemed to know no bounds.”

Bankrate –  “What is a closing disclosure?” (10-20-2023)

“A closing disclosure is a set of documents that contains the finalized details of your mortgage.”

Home Treasury – “IRS Says Focus On Millionaires And Large Corporations Is Paying Off” (10-20-2023)

” Today the IRS is announcing new initiatives to ensure large corporations pay taxes owed. As these initiatives to improve compliance among high-income individuals, complex partnerships, and large corporations ramp up, the IRS is continuing its work to improve customer service and modernize core technology infrastructure, most notably with the launch of Business Tax Account.”

Yahoo Finance-  “Jay Powell will keep saying inflation is too high until consumers believe him” (10-20-2023)

“There’s a reason Fed Chair Powell keeps saying inflation is too high, and it’s not just because the numbers say so.”