Fannie Mae Downgrades their Housing & Economic Forecast

Fannie Mae just downgraded their economic & housing market forecast through 2023. They revised their forecast for real GDP growth, home sales, home prices and much more. In today’s video, I share all the latest details.

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To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed rate mortgage is around 5.4% for the current mortgage rates (at the time of filming this video). That’s up ~2% YTD for the average 30yr fixed rate mortgage.

My Bold Housing Market Predictions for 2022:

Compilation of Housing Market Forecast videos:

Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?

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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.

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#FannieMae #housingbubble #homeprices

[JasonWalter]

Compilation of Housing Market Forecast videos

My Housing Market Predictions for 2022

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[JasonWalter]

Good morning! Hope you have an awesome day 🏡🙏🏻😀

[JohnD-JohnD]

In my market, I'm seeing an increased inventory or the higher priced homes. The ones less than 300K are still selling pretty quick.

[nateherring]

So purchasing prices and frequency recede due to rising interest rates, but rental costs are going to rise because fewer people can afford the interest rates. What's going to happen to people being forced to move because landlords are increasing monthly rent by 25+%?

[shantelleenegron]

What exactly does that huge increase in the federal funds rate mean for regular people around the country? How does that impact the economy?

[viviangall]

There is a perfect storm forming in America. Inflation, sever drought in the farm belt, the pandemic, food shortages, diesel fuel and heating fuel shortages, baby formula shortage, shortage of and price of available cars, the price of housing. It's all coming together and could lead to real disaster toward the end of this year.(or sooner)

[grownupgaming]

"downward pressure on continued house price appreciation" two sentences later: "downside risk to our house price forecast". Translation: 100% chance of rain with 50% chance of meatballs.

[raphaelmorales]

Love the videos! So much thoroughness and research, clear and consolidated! Keep it up and thank you!

[MichaelA-cuzg]

I’m waiting it out unless a property I really want comes along

[djapefendi]

If you purchased a house at $600k with 3.5% mortgage rate, you won't mind moving (selling and then buying) and taking on a 5.5% mortgage if an equivalent house is now selling at $500k. The payment would be about equal.

[VJohnny]

Sounds like Fannie Mae needs to go back and review the FED's legal mandate. Not just employment but also STABLE PRICES. Failing miserably at this lol. Rates must rise regardless of employment at this point. That is, if the FED does their job...

[ryanvertucci]

Every Day one of these big companies comes out and downgrades the forecast. Last month they were coming out and upping the forecasts (trying to get the rest of the FOMO buyers under contract). The market is going down and going down fast. Soft landing is not happening. Inventory is still LOW but demand is all but gone. High dollar tech markets such as San Fran are down 20% in prices in one month!

[mr.bullion]

The near future is a no-brainer. High debt, high inflation and high interest rates.

[realfedfacts]

All these companies will keep downgrading their expectations

[alexreed]

Good information as always, thank you for sharing. I don’t know why but there tends to be this idea that housing is immune from any fluctuation in price. It’s this special asset that just keeps going up and when things go south it just stays the same but never goes down. If it’s the stock market and rates go up, the prices go down, if it’s unemployment then it generally goes up when rates go up, if it’s credit then it generally becomes more expensive when rates go up.

Housing though seems to be immune from these fluctuations. The other thing that’s funny is people behaving rationally. When the market is charging up then buyers will do anything to get a home even if it’s crazy. However when the market starts to shift then magically everyone is rational and would never act irrational when prices begins to contract.

Consumers have demonstrated multiple times that they act very irrationally in down market.

[ritasilva]

I am confused now. Don’t know what to do. I sold my home in Los Angeles got cash from equity and moved to Florida. At an Airbnb now. If there will be a recession should I not buy a home here ? What would you do if you were in my shoes ? Should I wait longer and continue renting ? I appreciate your thoughts. Thank you.

[UrbanBDKNY]

Thanks Jason,

Your videos are my morning routine now w some coffee 😂

Can we talk about how the industry has introduced the use of “cool down”, “depreciation” etc to I guess avoid the truth which is lower prices?

I hate the idea of “depreciation” rather than “lower prices”

Let me give you an example. Prices in Miami are up 38% this year. As someone who wants to buy in that area there is NO WAY you can tell me that prices didn’t drop but that we just had “lower application” year over year if we have depreciation

Say I wanna buy a millón dollar home and “appreciation” drops from 38% to 1%. You mean to tell me prices didn’t “drop” because there was 1% appreciation year over year?

That is the biggest joke. A 37% difference in prices would be a damn crash but because they keep using year over year terminology then they look at it as “we still had appreciation this year. So no win for buyers”

😂😂😂

Stop it. If the price of a house goes down the price of a house goes down. You think a buyer cares so much about year over year numbers when they are trying to buy THIS YEAR?

[RyanLundquist]

It'll be key to keep watching who is selling in today's market. One of the technical reasons why we are seeing more listings on the market has to do with fewer pending contracts. Seeing buyers step back is one way to start to get more inventory.

[lucianscutelnicu]

If you have just one house.. and you live there.. ofc you don t want to sell now... but if you own more then 1 house.. you maybe want to sell at least one .. right ?

[stacyr]

What’s the point of predicting a storm the moment you hear rumbling in the sky? Jason, you’re the best, and I appreciate your reports as always, so if this sounds negative, it’s not about you. I just wonder at the value of these constantly changing predictions. And yet, I still always want to hear them, so the jokes on me I guess.