Home News Rent prices may go ‘even higher’ amid rate hike: ‘Million Dollar Listing’ broker

Rent prices may go ‘even higher’ amid rate hike: ‘Million Dollar Listing’ broker

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“Million Dollar List” broker Carsten Jordan warned of the heat wave Housing market Warned that rents could be “higher” if rents continue to rise.

“I’ve never seen a price increase when vacancy rates are very low,” said a realtor. “Morning with Mary” Tuesday.

“The impact of low vacancy rates when raising rates has traditionally been [when] If you raise interest rates, house prices will fall and rents will rise steadily. ”

U.S. rents hit record highs as buyers are pushed out of the market

Jordan also struggles to buy homes because of the low supply and high demand in the home market, which could lead to “less affordable prices” and “higher” rents due to rate hikes. Said there is a possibility.

Inflation is at its highest level in 40 years, with mortgage rates above 5%, making it a nervous time for Americans considering buying a home.

When FOX Business host Maria Bartiromo asked Jordan how long it would take to restock in the housing market cycle, she replied:

A “million dollar list” broker told the FOX business that New York is seeing a “real shortage” of home inventories. (IStock)

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There are a few more “horizontal opportunities” for potential homebuyers, but realtors say that places like New York City can “take a much longer time for real estate to reach the pipeline.” Pointed out.

“”[New York City] There are more restrictions. “It will take a much longer time for us to build and make it available to the public,” said Jordan. “There’s a really, really big … kind of sway in the places where we see the product. I will. “

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“Million Dollar List” brokers said homebuyers will see more home inventories in sandbars, California, Florida, Arizona, and Nevada, where they have more “local capabilities” at lower cost.

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