The biggest problem buyers have is NOT prices ๐ฐ The banks aren't lending them as much money
Tom Panos Rants
English - October 04, 2022 07:00 - 10 minutes - 7.17 MBBusiness Comedy tom panos sunday night rant motivation inspiration personal devlopment humour sales training sales coaching Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: The Real Estate boom is over! But so is the fear of overpaying ๐ค
I said this 6 months ago, and now itโs official ๐๏ธย
The rate of increase in interest rates is overtaking the rate of decline in property prices.
In this current real estate market, buyers have roughly a 25% decrease in borrowing capacity (all other things being equal).
The biggest problem buyers have right now is not the price of the property - itโs that the bank is not lending them the same amount of money they previously would have approved.
My Clearance Rate over the long weekend: 4/8 SOLD (50%)