“Most of these buildings have mortgages with interest rates of less than 4%,” he said. “Now the Fed has raised rates to 5.5% terminal rate, which means these mortgages are going to be refinanced at 9% to 11%."
Read more: https://t.co/yPg1zgXsR9
— unusual_whales (@unusual_whales) September 27, 2023
US housing affordability is worse today than the peak of the last housing bubble. The median American household would need to spend 43.8% of their income to afford the median priced home, a record high. pic.twitter.com/Y4FQi0Lr7Z
— Charlie Bilello (@charliebilello) September 27, 2023