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Home Business

Housing market cools due to inflation and higher mortgage rates

CNBC Television by CNBC Television
August 1, 2022
in Business
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Housing market cools due to inflation and higher mortgage rates
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CNBC’s Diana Olick joins Shep Smith to report on the cooling housing market, caused by inflation and higher mortgage rates. For access to live and exclusive video from CNBC subscribe to CNBC PRO:

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Comments 39

  1. Stephanie Miller says:
    3 years ago

    I'D RATHER PAY 10 PERCENT ON A 50,000 HOUSE THAT'S WORTH 50,000 THAN TO BUY A HOUSE FOR 150,000 FOR 3 PERCENT. THAT'S WORTH 50, 000….

  2. Daniel says:
    3 years ago

    Bought my first house when i was 21 in 2014 for 60k now its worth 180k, i wouldnt be able to afford to buy even the house im living in for what its worth now! Thank God i bought it when i did 🙏

  3. Bob smith says:
    3 years ago

    If your not a slave to material things and save money, you'll never pay these prices. But in America we always want more things.

  4. Oskar Malone Pëyak says:
    3 years ago

    Lol

  5. matt75hooper says:
    3 years ago

    This insane leftist girlie man Shep wont even entertain the notion that his Biden Swamp Creatures caused all this hyper inflation. Shep you are a round lipped tool.

  6. Oskar Malone Pëyak says:
    3 years ago

    America doesnt have a housing crisis yall just only build housing for millionares

  7. tmm226 says:
    3 years ago

    Good…

  8. Paul Johnson says:
    3 years ago

    raise taxes on ppl who own multi-fam housing – they are taking advantage.

  9. Paul Johnson says:
    3 years ago

    recession incoming.

  10. Ryan says:
    3 years ago

    What exactly are the money amounts known as the "price" of the house actually going towards paying that prices can vary as much as they do over a short time? The value of homes and other basic needs can never change and the cost to build them is not this high. The only reason the "prices" change how they have been is middlemen playing a game with other people's lives cuz pieces of paper say they own the land or real estate. We all continue to pay them "mortgage" at the same properties they've charged dozens of people the "price" of- that many times over. It is senseless and all we need to do to stop them and stem the excessive flow of money over what is a free standing expenseless structure -is to conspire together as a bankless union of individuals refusing to pay for houses. If everyone in each community act together to lay claim to your own property and land as a union withstand and surpass the powers of your local, state and federal lawmakers and shock the banking system of 100 years by reinstating common law rule by the Right of the Person not to pay a Mortgage, even one they had already signed, because that money is not actually paying for anything it's just hundreds of thousands in bank fees.

  11. TheCypresstree1 says:
    3 years ago

    If fed government doesn't do anything there will be a revolution by the youth!!!

  12. Desert Rose says:
    3 years ago

    Insane the difference between avg home in America vs Canada. US is sooooo affordable even in 2022

  13. Walt Miller says:
    3 years ago

    That's good news. The sooner, the better. Seems like Biden is doing good job out there. Let's see how it goes.

  14. TruthB Told2021 says:
    3 years ago

    Really…https://youtu.be/4KmBOfoptRw

  15. Bill Black Mortgage Pro says:
    3 years ago

    As Jeff Bezos uses Amazon cash to start purchasing homes with their cash that they borrowed at .25% – another media fear creating factor to make the rich- richer. Don't be fooled.

  16. Victor Espino says:
    3 years ago

    Ok good.

  17. X X says:
    3 years ago

    Bankruptcies are rising fast ! And credit card people are not paying – auto repos have doubled since last year !

  18. Christine Brown says:
    3 years ago

    The house we bought was off market (unlisted). Already priced high for the area, we closed when seller said "done deal at X amount". One week later, once people became aware of the property, there were offers of +20%! I suppose the upside is that from a financial perspective your investment has shown positive growth.
    The problem is with the term "broken". If you say the housing market is about providing people with good houses, then yes. If you say it's about providing investors (capitalists) with good returns, then it's aces. For my part, I think the essential problem is we let residential real estate be a privileged investment instrument. This encourages over investment, which causes the problem. Residents are competing with investors. Never going to win that competition.
    For the "free market" argument, I call BS. Real estate is not a free market. A market is defined by rules and the rules on real estate make it unequal to other investments. Just look at capital gains, tax rules, negative gearing, loans.

  19. Aaron Thomas says:
    3 years ago

    "We're not in a bubble, it wont crash" 🤡

  20. Juan Vasquez says:
    3 years ago

    We did it joe!

  21. A T says:
    3 years ago

    20% of the houses on Triad -Charlotte area were bought by big investment firms .

  22. Fl Bizowner says:
    3 years ago

    Cools down? Get the story straight. We are in the midst of a full blown recession and housing market crash!! Thanks Biden

  23. vast vessel says:
    3 years ago

    maybe the inflation is due to all the Covid stimmies they sent out…glad I sold my house last month.

  24. Crystal Walker says:
    3 years ago

    It's crazy 🤪

  25. sportscards4sale says:
    3 years ago

    They need to lower the price of homes if you over charge that keeps Americans broke and that's bad for the economy so if it's cheaper we have more money to spend at other company's and that's good for the economy so the fact apartments and homes are so high that's gonna make the economy bad and make the people more broke it's. So sad everyone is just so greedy

  26. Chad Z says:
    3 years ago

    The mall…. haha

  27. Blessed Hope says:
    3 years ago

    "I AM the Way, the Truth, and the Life!" Jesus answered.
    "Without me, NO ONE can go to the Father." – John 14:6
    "Salvation is found in no one else, for there is NO OTHER NAME
    under heaven given to mankind by which we must be saved.” – Acts 4:12
    "Is ANYTHING worth more than your soul?" – Mark 8:37

  28. marco mac says:
    3 years ago

    I thought house market never fell since the times of Jesús.

  29. Long Hoang says:
    3 years ago

    You don’t talk about the property tax gain. The renter have to pay the property tax eventually Don’t blame on the owner to raise the rent.

  30. Nomaticors says:
    3 years ago

    I would never spend more than 50k on a house. I wouldn't want more than three parking spots of space anyway.

  31. Stephen Robison says:
    3 years ago

    I don't think she knows what the word literally means.

  32. Branbrina says:
    3 years ago

    It doesn’t matter. Big corporations are buying them up so we still are priced out

  33. D G says:
    3 years ago

    I want to see those Buyers who purchased to flip and Sellers thinking they would continue selling high to hurt. Prices should course correct to near 2 – 5% preCOVID madness.

  34. Alpha69 says:
    3 years ago

    All these people complaining about how they can't afford a house probably leases a brand new vehicle every 3 years, eats out every day, has 6 tv streaming services and lacks the discipline to save money. Boo hoo. Quit whining

  35. pramod kumar Kabra says:
    3 years ago

    Nice

  36. Roberto Burgos says:
    3 years ago

    Let's Go Brandon

  37. Juan Garcia Ruiz says:
    3 years ago

    We the peasants have no future. The rich zippin tea on a Olympic size pool

  38. Ciao Jeff Italia says:
    3 years ago

    Amazing what has happened since Trump left office. Doing a Good Job with this Administration.

  39. Lifeis Good says:
    3 years ago

    I’m glad people are not over paying. He was hoping for 4 or 5 offers above the offering price. The buyer would be taking a huge lost when the market settles

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