Ep. 103 - Housing Industry Calls for Jerome Powell to Stop Rate Hikes

In a desperate plea, three major housing groups - the MBA, NAR, and NAHB - sent an urgent letter urging the Fed to stop raising interest rates. They warn that the rapid rate hikes are destroying housing affordability and pushing the economy towards a recession. The industry asks the Fed to think about the impact on homebuyers and communities. But will the Fed listen? In this episode, Quinton Harris breaks down why the housing groups are so alarmed, what they are demanding the Fed change, and whether their pleas will be heard or ignored. With tensions rising, can a solution be found before the housing market buckles?

[00:00 - 02:20] - Why Housing Groups Sent the Letter

[02:21 - 05:00] - Key Points from the Letter

[05:01 - 07:45] - The Mortgage-Treasury Spread Issue

[07:46 - 09:45] - Impact on Housing Affordability

[09:46 - 11:20] - Disagreement Among Fed Members

[11:21 - 14:23] - Potential Relief Measures

Housing Letter: https://bit.ly/lettertopowell

Key Quote: "We have excessive rate hikes that have taken place. In some cases, the rate hikes don't warrant the data that's coming out, but yet we're still doing it." - Quinton Harris

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