28Jun Mortgage Rates Decline Again by Lee Seward Housing Market Rates as low as 6.67% Housing Market We are in a Recession, Housing Bust, Foreclosures Rising This is the click bait you see today. The prediction to where the economy and housing market is or going remains open and optimistic by most. Commercial property loans are in trouble, this will continue as office buildings remain partially occupied across the U.S. some say it will be troublesome through 2040. Some economists are looking at the Treasury yield bond curve that inverted July 5, 2022 and remains inverted showing indication signs that we are going into a recession. Past history shows that when this happens approximately 15 months later the economy goes into recession. The Federal Reserve is adamant of curbing inflation and bringing it down to 2% from the 4% metric this past May. Foreclosures So much unknown, yet there is a lot of known information. We are on the edge of a buyers market today however, well priced homes are still selling quickly. Inventory is down and has been for years now. If you are ready to purchase a home or second home, be smart. Search out the A+ locations, you do not want to be the most expensive home in the area. You can also add equity or buffer your investment by purchasing a home then improving it. Rather than spend up to purchase something someone else improved. Find that home (in an A+ location) that has potential, hire your General Contractor and build your dream. By renovating or building you are creating your own equity buffer. With all of the click bait, housing goes up and some years it decreases but in the long run it appreciates. Be smart, buy right and you will create your own equity. If you are looking for a home in Florida and want budgets for renovating give us a call. We can also connect you with one of our trusted realtors located all over the Gulf Coast. Iridium Development 561-597-0021