“Good Morning! We are happy to share Los Angeles Housing Report with members twice a month. And our collective belief is that it will help you grow your business and make informed decisions.”
Leona. L. Usaty
Los Angeles County Housing Report:
Housing Haunted by the Fed
October 31, 2022
As the Federal Reserve pushed harder and harder on the
economic brake pedal by increasing the Fed Funds Rate at the
the fastest pace in recent history, the housing market has slowed
to a crawl.
Housing Reset
In June, the Federal Reserve announced that they had plans to “reset” the U.S. housing market, and that is precisely what is occurring today.
All year long, the Federal Reserve has been in the news. Inflation had become enemy number one, and they were going to do everything in their power to tamp down out-of-control inflation. Prices of goods, services, food, and energy were climbing at an unhealthy rate. Home values had soared by over 40% in just two years.
Jerome Powell, chair of the Federal Reserve Board, delivered speeches in December of last year, March, June, August, and September of this year, and with each speech, the tone increasingly became more vigilant. At first, the carefully telegraphed message seemingly tiptoed around how far they were going to go to fight inflation, but by September, they seemingly were brandishing swords and shields, ready to go to battle.
To continue to read, please follow the link: https://www.dropbox.com/s/m5yrixbvndoxv3j/LA%20Housing%20Report%20Leona%20Estates%20Inc.pdf.pdf?dl=0
With Best Regards,
Leona Estates Team
www.leonaestates.com
