Real Estate News 04/17/2024

Today’s News Synopsis:

Federal Reserve Chair Jerome Powell said Tuesday that it will take “longer than expected” to achieve the confidence needed to get inflation down to the central bank’s 2% target, signaling that it will also likely take longer to cut rates.

In The News:

Yahoo Finance – “Powell says taking ‘longer than expected’ for inflation to reach Fed’s 2% target“ (04-17-24)

“Rates are currently at a 23-year high following an aggressive campaign by the Fed to tame inflation and cool the economy.”

Enterprise –  “‘Enterprise Releases 2024 California Affordable Housing Pipeline Report“ (04-15-2024)

“The report highlights the investments needed to unlock developments in the pipeline and scale efforts to meet the state’s growing affordable housing shortage”

NAHB –  “Housing Starts Fall on Interest Rate, Financing Concerns” (04-16-24)

“Housing starts fell in March with interest rates somewhat higher than expected last month as the latest inflation readings failed to show improvement.”

Realtor Magazine – “Back to Basics: Building Relationships in Your Office and Community” (04-04-2023)

“Over the past few years, relationship-building took a back-slide for many in the industry. Pandemic-related restrictions and a market frenzy made it difficult to find the time and bandwidth to get to know people. The market is on the other side of that now, but tight inventory and high prices mean industry professionals are back to playing the long game, which requires cultivated and trusted relationships.”

CNBC – “Wall Street pushes out rate-cut expectations, sees risk they don’t start until March 2025” (04-17-2023)

“Economists and strategists now see the Fed waiting until at least September to cut interest rates and are increasingly entertaining the possibility of no reductions at all this year.”