One of my clients today was a loan officer and he said for the rates to go down, unemployment has to go up.
So when there’s less people working, the rates go down? That’s weird. It’s all about supply and demand and the way the economy works is a little weird.
We also talked about how most people can’t buy a house right now and that the institutions like BlackRock and vanguard are buying entire communities to rent them out.
Thoughts? What do you think needs to happen for the interest rates to go down? What’s your prediction for the rest of 2023 and the beginning of 2024? Will this get worse before it gets better?