Real Estate Rollercoaster: Interest Rates, Millennials and Market Magic
Key Points:
- Expect rainbows after the storm with interest rates set to fall in 2024, potentially showering enough fairy dust to unlock the doors of the housing market for the brave and the broke: all the hopeful buyers and sellers.
- This plot twist comes after a thrilling horror-movie-esque climax of interest rates skyrocketing from 2022 to 2023, leaving your pants-pocket dishearteningly light, and your dreams of a new home adventurously distant.
- Adding a dash of drama to our rollercoaster is the fact that economic weather vane could still point to a storm alert. So, keep the lemonade ready as we might need to make some out of the sour drops of life.
- Here’s a heartening entrepreneurial twist to the tale as revealed by a new Clever Real Estate survey: Our lead characters- the millennials- are ready to crocodile-wrestle these economic crocodiles rather than be mere bench-warmers in life’s match.
Hot Take:
In our cinematic world of real estate, the narrative has given us a good shake – more like a popcorn-machine jiggle with that 2022-2023 hikes. But as they say, what goes up must take the escape slide down – it certainly seems to be the case for our rollercoaster ride of interest rates in 2024. Our tan and ready millennials, looking straight out of an MTV reality show, are not playing the damsel-in-distress script. They are ready to wrestle this Voldemort with everything they’ve got. So, whether it’s backstroking through the shark-infested waters of financial stress or simply refusing to be frightened by the Harry Potter-esque haunting rise and fall of interest rates, our millennial stars are ready to roll, and we cannot wait to see how this rollercoaster ride unfolds.
Bottom line: In the world of real estate nothing’s so bad that it couldn’t get worse… or absolutely fabulous, darling!
Original article: https://www.inman.com/2024/01/10/65-of-millennials-would-still-buy-a-home-if-interest-rates-were-10/
