Fed & White House Talk Housing
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- čas přidán 13. 03. 2024
- The White House and the Fed have acknowledged that housing is FROZEN with stubborn prices and very low demand. They are talking about various solutions. Do they have the answers?
Steven Thomas with Reports On Housing reveals the details.
👉🏼"Housing Debrief" - Season 5, Episode 7👈🏼
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Sponsored by Leigh McMahon with Movement Mortgage, 949-239-4252.
*The content in this video is accurate as of the posting date. This is not investment advice.
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Here in California, I truly believe that the supply issue will never get better. We have way too many regulations and laws that builders have to pay for. And that gets passed on to the buyer, which keeps housing priced higher.
It's not just here, but across the country. As a result, builders want to maximize the dollar potential of every lot and the entry level is not addressed. The only way to bypass this is to remove/alter all the red tape, government delays, and ridiculous fees.
Thanks for the updates
It is our desire to keep everyone informed.
Inflation down to 2s in 9 months? Bold statement…
Not down to 2, but 2.9? Sure. It's not bold if you watch trends.
Steven, what will fix this quickly is a temporary restrain of capital gains tax for all home sales, or at least a certain class of homeowner, like Seniors, etc;. The 18 month program during the Great Recession eliminated forgiveness of debt as income and if you recall that motivated homeowners to stop filing Bk's, etc. and get their home on the market. We have so many clients who own multiple homes and will continue to hold until they die for the stepped up basis for their families; they don't want to be landlords anymore, but they refuse to pay the taxes, so they hold. Irony is Government won't get the taxes when they die anyways, so why not go with a temporary restrain of Capital Gains. 17% of the GDP is tied to housing I recently read, so the trickle down affect would probably net the Government more in the long run would be my guess.
This is an excellent point, one of many solutions that focus on the supply side of the equation. The supply side is where policy needs to pivot. I am baffled how they have kicked the can to 2025 on a bill that would raise the capital gains exclusion to $500k for singles and $1 million for couples. Right now. the exclusion is pegged to 1997 dollars. Let's first get them to pass this piece of important legislation and then place a moratorium on all capital gains.
I am waiting for interest rate go down 🙃
You are not alone. What mortgage rate level will entice you to purchase? If it gets below 6%?
Is happening
Renting is cheaper than buying
Not enough tax deductions
Tax incentives for home buyers were eliminated by Trump on 2018
The government need to fix the tax code to help people pn all interest paid on mortgages and all property taxes to be deductible.
That's been true for a very long time in CA, yet owning makes sense in the long run. Payments are fixed, values go up, and equity is realized. Eventually, rents increase beyond the fixed payment, while home values rise.
I totally agree
But as a home owner of 6 properties
All paid off
Right now
Our government
Needs to change tax code
To help families onset the cost of mortgage rates
Un our life time they will not going back to the 2/ 3 %
Right now it makes sense to rent .
Not until the climate of housing
Change to a favor to all parties.
@@FrankCuzakis, a very interesting take.