Will RE prices spike in 2024 with rate cuts?

[John Morgan]

The Fed is pleased with inflation coming down and hints at cutting rates in 2024. Most analysts are saying there will be multiple rate cuts in 2024. What will this do to home prices and demand if we have 6% or lower mortgages again? Housing affordability is 1/3 of the CPI. If home prices and rent soar again, it’ll bring inflation back up. And this is an election year which could mix things up. I think home prices and transactions will ramp back up with rate cuts.