That was deliberately confusing and Chat GPT agreed, but the point is there.

The Mortgage and Real Estate industry has been put on its head with everyone thinking if we just walk a little further, just over that hill the skies will open.

The reality is the housing market is stuck. Stuck with home owners afraid to let go of their low interest rate mortgages, afraid of what they can or can’t get after they decide to sell and afraid to do the wrong thing.

Not that long ago we went through the 2008 global financial crisis. The same buyers who lost homes 14 years ago and purchased in the last 5 years, don’t want to live through that again and will hold onto their homes even tighter.

Jerome Powell made it clear that 2024 looks to be the same as 2023. Like it or hate it, it is what it is. Get busy or stay on the porch, you decide.