Economy Slumps, Experts Predict Rate Rise in September
by Osman Parvez
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Good news! GDP came in at 0.2% in the first quarter, far slower than the 1% consensus forecast.
Why is that good news? Because the inventory shortage has been relentless on the front range, everywhere from Denver to Ft. Collins. Low supply and high demand has been driving up prices at very high rates, an unsustainable pace in my opinion.
It’s impossible to call the top of a economic cycle, but bad news might encourage some owners to sell into this still rising market. Am I cheering economic softness? You bet. Maybe we’ll start to see prices level out and as more inventory enters the market.
What about mortgage rates?
The Fed’s long-awaited liftoff on its benchmark interest rate won’t happen until September, according to economists surveyed by Bloomberg, as officials try to spur inflation and hiring after the economy stumbled in the first quarter. Policy makers are due to release a statement later in the day.
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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties. We strongly recommend conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
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Osman was a refreshingly honest realtor. He stressed through the entire process that his goal was to make me happy with my home purchase. I greatly appreciated the fact that he never shied away from pointing out the negatives as well as the pluses of different places while leaving the final decision up to me.
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More about the author
Osman Parvez
Owner & Broker at House Einstein as well as primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has appeared in the Wall Street Journal and Daily Camera.
Osman is the primary author of the House Einstein blog with over 1,200 published articles about Boulder real estate. His work has also appeared in many other blogs about Boulder as well as mainstream newspapers, including the Wall Street Journal and Daily Camera. Learn more about Osman.
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