Why 2024 signals 'great growth' for the housing market

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Housing starts dipped in December while permit growth continues, which NAHB CEO Jim Tobin told Yahoo Finance signals a "housing renaissance" ahead in 2024. He believes the data shows the market pivoting into an era of "great growth" after a drastic post-COVID slowdown.
Though mortgage rates remain high, Tobin expects potential lowering in six months as traffic rises at model homes, indicating renewed spring homebuyer demand.
"The world is getting ready to realize that we're no longer gonna back those three and four percent mortgage rates," Tobin tells Yahoo Fiance, adding: "and there's gonna be a generational shift here that mortgage rates at five in the long term are still really good low rates."
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Опубликовано:

1 авг 2024

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Комментарии : 12

@nicolasbenson009 6 месяцев назад

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

@JonDoe-gi5zf 6 месяцев назад

I wonder how many people can actually afford these homes?

@nondescriptnyc 6 месяцев назад

This is the complete opposite of what all economists are saying. I wonder what he knows that nobody else does.

@DanielGoldMcduckRose 6 месяцев назад

Who’s going too buy? Other than Wall Street high levels of debt interest COl not to mention most houses are far bigger than most need.

@MakkYoruba2802 6 месяцев назад

Blackstone bought up Tricon Residential a few days ago. They didn't grow into a trillion dollar equity by not knowing most near future sector trends.

@realnapster1522 6 месяцев назад

What matters is the price. Not mortgage rates. Rates are still too high but price is not coming down which is what has frozen the market. At some point we may have massive crash.