Real Estate News 11/10/2023

Today’s News Synopsis:

Fed Chair Jerome Powell said he and his colleagues remain steadfast in getting policy in line with their 2% inflation goal, but “we are not confident that we have achieved such a stance.”

In The News:

CNBC – “Powell says Fed is ‘not confident’ it has done enough to bring inflation down” (11-09-2023)

“He stressed the Fed nevertheless can be cautious as the risks between doing too much and too little have come into closer balance.”

Redfin –  “Rental Market Tracker: U.S. Asking Rents Remained Sluggish in October Amid Rising Vacancy Rate” (11-08-2023)

“Asking rents were little changed from a year earlier for the seventh-straight month as an increase in new units hitting the market drove up vacancies, making it harder for landlords to raise prices.”

Yahoo Finance –  “Powell calls Fed policy ‘restrictive,’ cautions on being ‘misled’ by data” (11-10-2023)

“Federal Reserve Chair Jay Powell said Thursday that monetary policy is in “restrictive territory” and putting downward pressure on inflation, cautioning that the Fed would not be misled by “a few months of good data.””

Forbes –  “2.9 Million Borrowers Will Not Have To Pay Their Student Loans Under New Biden Plan” (11-09-2023)

“Nearly three million borrowers won’t have to make payments on their student loans under a new repayment plan, the Biden administration said this week. ”