Rates Surge Back Up as the Election “Slowdown” Hits Housing

On The Market

BiggerPockets

News, Investing, Business, Education

4.8 • 820 Ratings

🗓️ 4 November 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Everyone is awaiting the 2024 presidential election results—especially homebuyers. As mortgage rates rise again, potential homebuyers are sitting on the sidelines, hoping that the next president could make it a little easier to purchase a house. Is this housing market slowdown just a temporary phenomenon before the biggest political event of the past four years, or could this last well into the winter? We’re covering it on this headlines show! Could a “Trump trade” push bond yields up and mortgage rates as well? Some economists are betting that a Trump presidency would mean higher mortgage rates. We’ll also talk about California’s Prop 33, which, if passed, could allow more stringent rent control on landlords in the Golden State. With rising costs for property owners, could this lead to landlords selling their rentals to escape California’s tenant-friendly laws? If you want to escape the election cycle, we’ve got you covered. Our last story touches on the best companies for career growth, and if you’re trying to up your skills (and your income) next year, applying for a job at any of these companies could help you! In This Episode We Cover The pre-election housing “slowdown” and why many homebuyers are pausing on purchasing A new mortgage rate update and what’s causing rates to rise back to seven percent The “Trump trade” and why economists are worried it could push bond yields up California’s newest rent control proposition and what it means for landlords in the state The top companies for career growth in the United States (grow your income!) And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Find Investor-Friendly Lenders Dave's BiggerPockets Profile Henry's BiggerPockets Profile James' BiggerPockets Profile Kathy's BiggerPockets Profile Proposition 33 Ignites Fierce Debate Over California Rent Control Laws Do Elections Affect the Housing Market? Here's What Experts Say Real estate in for a fright as mortgage rates return to 7% Proposition 33 Ignites Fierce Debate Over California Rent Control Laws These Are The Best Companies For Career Growth, Ranked Grab Dave’s Newest Book, “Start with Strategy” Jump to topic: (00:00) Intro (01:01) Pre-Election Housing “Slowdown” (13:03) The “Trump Trade” (16:48) Prop 33 Rent Control? (24:15) Best Companies for Career Growth Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-266 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Do presidential elections historically affect the housing market? Why on earth are mortgage rates still
0:07.0	going up? And what are some of the best companies where you can grow your career? That and more on
0:12.7	today's show. Hey, everyone. It's Dave. Welcome to On the Market.
0:21.6	This is one of our patented headline show where we bring you the latest headlines in real
0:27.1	estate and in business so you can help keep up with the market and make smart investing
0:31.8	decisions.
0:32.6	And of course, to sprinkle on our own hot takes to help you separate what's actually going to
0:37.0	help you with your investing career from stuff that's just hype.
0:41.4	Usually, I sit through the news and bring four headlines to talk about, but instead I have
0:46.0	assigned my esteemed panelist a topic or ask them to bring their own topic. So we have
0:52.5	Kathy Fecky, James Danard, and Henry Washington joining us today.
0:57.2	Thanks y'all for being here. Great to be here. Glad to be here, man. Good to see you guys.
1:01.8	All right. Well, let's just jump right into it. James, what story did you bring for us today?
1:06.3	Well, as we know, we've got a lot of things going on in the news covering the election. It's the big election day.
1:12.5	Oh, there's a, there's an election this year. I mean, I see it every once in a while trended on
1:17.5	Twitter, so I figure we should explore this a little bit more. It's not even Twitter anymore. It's called
1:22.3	X. But yeah, you know, I wanted to bring in this article. I want to talk about this today because I keep hearing a lot in the community. I know, Henry, you're a flipper. I'm a flipper and a lot of investors that are doing development flipping and doing that high return dispositions right now. We're feeling a slowdown. And there's a lot of consumer confidence slowing down. And I'm starting to see a panic when we just have to remember that things slow down when things change.
1:49.5	I mean, Henry, have you had much showing activity on your listings or is that slowed down?
1:54.4	The amount of bodies that we're seeing through our houses are down like 80% over the last 30 days.
1:59.6	80%.
2:00.4	Yeah, it's big.
2:01.6	Yeah, it's a little different here for a number of reasons that I could expand on if you want me to.
	...

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