The Wealth Effect Cuts Both Ways: It’s Impact on Today’s Market and what’s up Redfin?

Not one to shy away from a clicky headline myself, but I think Redfin might be playing fast and loose with their math — or borrowing a calculator from a toddler.

They claim there are 1.94 million sellers and 1.45 million buyers… which sounds impressive until you remember that current inventory is 1.45 million, and about 500,000 of those are already under contract. That leaves just 960,000 active listings.

So unless we’ve entered a parallel universe where sellers are cloning homes or buyers are invisible, something doesn’t quite add up.

Front-Running and the GDP
There’s an old adage: “History is written by the winners.” In this case, we saw a spike in inventory driven by front-running — companies buying ahead of the anticipated tariffs.

It’s a reminder that information is often presented by those in control, not necessarily those most affected. The GDP data may show a temporary boost, but it’s not always the full story — sometimes it’s just the version told by the ones holding the pen.

My Take

Tariffs impact more than just the cost of goods — they also weigh heavily on consumer confidence. The unpredictable, on-again/off-again nature of tariff policies creates uncertainty, which is never good for anyone — whether you’re a business owner or a consumer. Stability and clarity are key to sustained economic confidence.

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