As JPMorgan Chase & Co. (JPM) CEO Jamie Dimon highlighted his fears of a messier inflationary environment regarding interest rates in his annual shareholder letter, what kind of picture do higher-for-longer rates paint for the future of mortgage rates and the US housing market?
Meredith Whitney Advisory Group CEO Meredith Whitney — previously dubbed the "Oracle of Wall Street" for predicting 2008’s Great Financial Crisis — sits down with Yahoo Finance to discuss the elevated mortgage rates and the biggest factor that could stimulate inventory levels in US real estate markets.
"This is something I have been working on a lot lately, which is an increasing financial strain amongst households over 60. So you’ve seen a big jump in overall debt loads carried by households over 60 and as a proportion of total debt, that’s doubled over the last 20 years," Whitney explains. "So I think you’re going to see due to financial strain, more seniors having to downsize, and that’s going to put more supply in the market."
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