HousingWire Lead Analyst Logan Mohtashami joins Yahoo Finance to provide insights on the current state of the housing market.
Mohtashami emphasizes that housing affordability "depends on the labor market." He explains that if jobless claims increase, mortgage rates will likely fall, but if not, "then we’ll stay at these levels." However, he highlights the improving spreads between the 10-year (^TNX) and 30-year Treasury yields (^TYX).
Mohtashami highlights the impact of climate change on the housing market, going as far as to say that "parts of the country might not be livable for a lot of homebuyers." He points out that as housing insurance costs rise amid natural disasters, "that’s a problem" that could last for decades.
Despite these challenges, Mohtashami sees a "good story" in the housing inventory for 2024. He notes that new listings and active inventory are growing, although not significantly, but "it’s good enough to give people more choices."
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