The credit expert discusses the boom in the house market, and why it’s not all good news when it comes to sales.
Things are not looking good right now for potential home owners.
Inflation has already caused home prices to skyrocket in many states across the U.S., and it doesn’t look like they’ll be slowing down any time soon.
A new report from CNBC reveals that home prices have hit a new record high as of last month, with mortgage rates continuing to be out of reach for many potential buyers.
As a result, existing home sales have continued to drop, decreasing by 0.7 percent from April.
This is in contrast to what many thought would be a rebound for sales following many though months of inflation. Lawrence Yun, chief economist at the National Association of Realtors (NAR), noted, “I thought we would see a recovery this spring. We are not seeing it.”
This is in spite of the home market picking up in terms of availability, with a jump of 18.5 percent over May of last year. But the demand just isn’t there, as many affected by financial woes simply can’t afford to buy a new home like they used to.
So what will happen with the home market? Will inflation ever allow it to be back to any kind of affordable level again?
Joining us today is Dr. Michael Grayson, a renowned credit expert and advocate, to discuss the matter. His knowledge in all things investment and planning for the future make him an ideal guest for this show. Welcome, Michael!
Q&A:
- What are your thoughts on the housing market right now? Is it unsustainable when it comes to cost?
- Where do you think is the most unlikely place for anyone to afford housing right now? California? New York? Or does it really depend on individual markets?
- Do you see any kind of potential bounceback for the housing market? Or do we need to see drastic changes to what’s happening with federal rates first?
- What needs to be done in an effort to make the housing market desirable again? Lower priced housing? Purchase options?
- Tell us more about the company you founded, CDMI, and what services it can provide for others.
- Where can we find more information about CDMI?
- You can visit the official website at https://www.cdmicredit.org/.
About Dr. Michael Grayson…
Dr. Michael Grayson is a credit expert and advocate with extensive experience in credit repair and financial literacy. He has dedicated his career to helping people and businesses navigate complexities of the credit system. Dr. Grayson is known for his tireless advocacy for consumer rights and his efforts to expose and rectify injustices within the credit reporting industry.
INTERVIEW CONTACT: Jerry McGlothlin, CEO of Special Guests Publicity LLC
Phone: 919-437-0001 Email: jerry@specialguests.com
