Home News Real estate ‘slowdown’ starts in 2023; The Fed caused “housing inflation” – Danielle DiMartino Booth

Real estate ‘slowdown’ starts in 2023; The Fed caused “housing inflation” – Danielle DiMartino Booth

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(Kitco News) -The Federal Reserve Board said it was due to inflation and rising home prices, said Daniel Di Martino Booth, CEO of Quill Intelligence, saying that 2023 could be the year when housing collapse could begin. Stated.

Booth, a former federal insider, spoke with Kitco News Editor-in-Chief Michelle Makori at the Vancouver Resource Investment Conference, suggesting that Powell might have been able to tackle inflation sooner.

However, due to political activity within the Fed, he was cornered until he was reappointed.

“The Fed’s politicization is toxic and undermines its ability to make timely policies,” she said. “Randal Quarles, a member of the Federal Reserve Board, recently conducted a public interview, saying he thought the Fed would have moved faster if this kind of Game of Thrones hadn’t happened. rice field.”

Booth said he could have become more hawkish after Powell was reappointed.

“Theoretically, the next three Fed meetings could reach the point of breaking the market in 2018 … and quantitative monetary tightening will be fully strengthened by August. Let’s … I’m going to see everything this time … [Powell] I’m willing to break it. “

At this point, Booth suggested that all “soft landing” stories were public relations. She said we are already seeing signs of recession.

“Layoff announcements are seen every day … Today was Netflix. A few days ago it was Twitter, Meta and Amazon. Layoff notifications are on the rise,” she said. “When you know, when [Powell] On the podium is “Oh, food inflation, Ukraine, energy inflation. This is not my fault.” Congratulations to his heart because housing inflation is the FRB’s fault. ”

Booth said Powell’s monetary policy led to speculation in the housing market. She pointed out signs of an imminent house collapse.

“We are certainly watching [housing] Slow down, slow down … The latest data suggests that 61% of all mortgage lenders are currently dismissing staff, reducing headcount. Since 1973, more homes are under construction than ever before … [And] Mortgage rates are where they are. That’s why affordability has never been so pinched, “she said.

She said 2023 may be the time when home prices begin to fall.

As for gold, Booth pointed out that the price outlook for metals during these times is uncertain given the changes in the Fed’s rhetoric.

When asked what assets Booth was looking at as a potential investment, he said, “What’s happening lately, I’m looking at farmland … The United States is the world in terms of the yields we get. By far the most productive country in the country. Per acre planted. ”

Booth said he hopes the US midterm elections will delay fiscal spending on the political front. She also said that talking about Biden’s student loan forgiveness faces legal issues.

Watch the video above to see the Bitcoin and Gold outlook for the Daniel Di Martino booth.

Follow Michelle Makori on Twitter. @MichelleMakori

Follow Kitco News on Twitter. @KitcoNewsNOW

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