Real Estate Industry Update with Noah Rosenblatt, Founder & CEO UrbanDigs

We speak to Noah Rosenblatt, Founder and CEO of UrbanDigs, on the current state of the real estate market.


Dana Williams
Real Estate Salesperson, Sotheby's International Realty
More about Dana Williams
Highlights from this article

When central banks go in and go haywire, you know, and they print too much money and there's too much money chasing too few goods type of thing. But the reason it's important is because generally speaking, what central banks have to do to combat inflation is raise rates. That the raise rates and that, that should strengthen the currency. 
 It should, uh, it also kind of creates a risk off asset classes tend to go down and prices. So it's a tightening, it's a tightening move. Generally it's not very. You know, economically growth oriented to do it to cool things down. So if you think about it from a political standpoint, it's not like the most uh, it's not what the people want to hear. 
 You know what I'm saying? But you have to raise rates to combat this and stop it. This is why the fed tracks, this is why the fish trap. And if you raise rates, what's happening to those mortgage rates. So the Morgans are going to know if mortgage rates. Then the houses, it gets a little more unaffordable from a financing standpoint and to compensate for the unaffordability buyers will bid less and the price will come down.

I think if I had to list one, the first thing would be as high, higher prices. 
 Higher prices are kind of the answer for hyper. You know, th as prices continue to rise, I think, I think buyers are at some point going to have a natural threshold where, where the cooling off is going to happen. And you almost don't even know when you're going from the peak into the fall, because it happened so quick before you realize it you're in the middle of it.

There's a shortage of inventory, you know, I mean, it's, it's starting to get a little relief now, but generally speaking, there's a shortage of inventory and demographics are going to be rising. It's it's, there's going to be a need for housing.

So the national housing market just has pretty much been going straight up since this whole COVID pandemic began. And I think it's literally in its first kind of corrective wave right now from the summer highs, but it's not like it's crashing a falling.

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