Interest rate hike bonanza!
Quite frankly, it is unbelievable how the Feds have spiked up the interest rate in 2022-23 to try and cut down on inflation. No doubt you and others have felt the same way. Why? Because what has happened is it has not only stalled economic growth, it has stifled the residential and the commercial real estate market and that means jobs.
Just think of how many employees are involved in the real estate industry. The Buyer, the seller, the agent or broker, the lender, the under writer, the appraiser, the building inspectors, the possessors, the home repair man ect..the list can go even further if there are tenants involved, vacation rental companies and so forth.
Basically what has happened and unless a quick reversal, the unemployment rate which is historically high, may find itself in a year or two at world record levels. I hate to be doom and gloom but the economists know what they are talking about. So what can be done? Please let the viewers know your thoughts here.....