The hottest 3 topics by John Burns

I have spent the last 2 weeks in NY prepping for our Outlook Conference on Oct by meeting with and listening to clients. The hottest 3 topics are:

1) the intriguing puzzle of why mortgage rates rose after the Fed dropped rates, which we attribute partially to rising inflation expectations over the longer term,

2) the 50-year low in existing home sales last month, which we believe is partially because of the Sitzer-Burnett real estate agent settlement, and

3) the significantly reduced home buying and rental demand in some of the country's formerly hottest markets caused by a big decline in domestic migration.

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