John Schink of Deerwood Realty dives deep into a crucial aspect of the home affordability conversation that many overlook: the cumulative impact of inflation. While rising mortgage rates often steal the spotlight, they’re just one piece of the puzzle. Over the past years, cumulative inflation has hovered around an astonishing 20%, and this silent force plays a massive role in altering the homebuying landscape. By examining recent data and the broader economic context, John sheds light on the real challenges homebuyers face in today’s market. Beyond mortgage rates, understanding inflation’s role is essential to making informed decisions in real estate. Join us in this enlightening discussion and discover the intricacies of home affordability.
#HomeAffordability, #InflationImpact, #RealEstateInsights
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All the headlines say that inflation is now 3.7%.
— The Kobeissi Letter (@KobeissiLetter) October 12, 2023
But, what they fail to mention is that this is building on YEARS of inflation.
3.7% inflation is building on 8.2% in September 2022 and 5.4% in September 2021.
That means that inflation since September 2021 is has been nearly…
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