Business Rundown: "We Have Hope Again" In The Housing Market. Will It Last?

The Fox News Rundown

FOX News Podcasts

News, Daily News, Politics

3.4 • 1.7K Ratings

🗓️ 23 September 2024

⏱️ 16 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Fed's interest rate cut delivers some good news to a lagging real estate market. August data from the National Association of Realtors showed U.S. home sales fell to their lowest levels since October 2023. But after the Fed decided to cut rates by half a percentage point, mortgage rates have already begun decreasing—potentially encouraging first-time home buyers with a more affordable mortgage. But the housing market’s affordability problems aren’t new and can’t be blamed exclusively on mortgage rates. FOX Business' co-anchor of The Big Money Show, Taylor Riggs, speaks with FOX Business' real estate contributor Katrina Campins about why this rate cut has delivered modest hope to a stunted housing market and the 2024 candidates' plans to tackle the housing affordability problem. Photo Credit: AP Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:49.2	I'm Taylor Rags, and this is the Fox Business Rundown.
0:54.5	Monday, September 23rd, 2024. Home sales continue to fall below expected
1:05.1	levels in the US with high housing costs being the main obstacle to price out
1:10.3	first-time buyers. But following the Fed's first big cut to interest rates,
1:15.4	Americans could see some reprieve. Why were sales down in July and some in August. I think it's because people are waiting.
1:25.3	So if someone tells you something's going to be cheaper in a few months, why jump in right now?
1:29.6	The real estate market has slowed with August data from the National Association of Realtors
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