Home builder sentiment down? Lumber Prices Down? Millionaire Millennials postponing home purchase

#House #Realtystream #realestate

On today's stream we talked about artistic swimming and the Westminster dog show. I knew nothing about artistic swimming, and I don't feel like I learned a whole lot about it after reading about the poor swimmer who fainted or passed out in the pool during a performance.

We talked about home builder sentiment being down. Why? A combination of factors, I'm sure. Labor shortages, building material prices continuing to move ever higher, EXCEPT for lumber...apparently lumber prices are 60% off of their highs because of lower home builder sentiment. See what I did there? ;)

Finally, we talked about the millionaire millennials survey which appears to indicate this group is postponing the purchases of homes and autos due to inflation. I don't think this is right, but that's what the article says. The article goes on to say the survey results indicate that millionaire millennials seem to think that inflation will be solved by the fed by the start of 2023, which I found unlikely. Watch, subscribe, share!

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First off: a welcome it’s great to be able to be with you today

“The single most important decision you make is where you live.

It drives your business opportunities, relationships, food and water supply, politics, activities, and day-to-day quality of life.” Naval

Google Trends has us learning about Artistic Swimmers and the Westminster Dog Show

30 year fixed mortgage rate came in at 5.75%

A. Home builder sentiment is lower…why?
B. Lumber prices DOWN…Wasn’t great when they were high…great that they are down now?
C. Millionaire Millennials postponing purchases of cars and houses due to inflation?

Sources:

https://www.npr.org/2022/06/23/1107041724/swimmer-coach-saves-anita-alvarez

https://www.cnn.com/2022/06/22/us/westminster-dog-show-finalists-kennel-club-cec/index.html

https://www.cnbc.com/2022/06/15/homebuilder-sentiment-drops-to-lowest-level-in-2-years-as-housing-demand-slows.html

https://markets.businessinsider.com/news/commodities/lumber-prices-mortgage-rates-applications-housing-starts-fed-rate-hikes-2022-6

https://www.cnbc.com/2022/06/16/millennial-millionaires-are-delaying-home-car-purchases-due-to-inflation-.html

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