I'll be honest. I keep hearing from people that a rate cut will "produce a soft landing" and that real estate prices will start to increase rapidly again.
NOPE.
Inventory is starting to rise and homes aren't selling. Will rate cuts help? Sure. Will they save this market? Zero chance unless inventory goes back down. We sure seem to have short memories as a society in that rates were hanging around 2-4% for 10-20 years YEARS, and yet we think that a small cut to say 6% is going to save the market? No chance. Simply put, nearly everyone that can afford to buy a home has bought one. Distressed markets continue to bubble and while I am seemingly a one man island right now, I don't see a big upside for real estate at all. In fact, I think the 'soft landing' is based purely on hope......... We shall see.
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