Housing Market in 2024 – Wharton Professor Susan Wachter's Real Estate Forecast
Episode Description
In an interview on Wharton Business Daily, Susan Wachter – Albert Sussman Professor of Real Estate at the Wharton School – offers her forecast on where the housing market and mortgage rates are headed in 2024, particularly given trends surrounding inflation and interest rates.
Topics and questions covered: 00:00 - Introductions 00:27 - 2023 housing market trends 1:24 - Analyzing inventory (supply side) 5:34 - Predicting trends in interest rates 7:29 - Adjustments in housing prices 10:08 - Commercial real estate 11:51 - Takeaways
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Brief Summary
Susan Wachter discusses the real estate market's challenges and future outlook, focusing on interest rates and inventory issues.
Key points
- The Painful Housing Market of 2023. Susan Wachter discusses the challenges facing the housing market, including high interest rates and low inventory.
- Future Relief in Housing Market. Susan predicts a turnaround in the housing market by the end of 2024 due to declining interest rates.
- Commercial Real Estate Uncertainty. Susan addresses the distress in the commercial real estate market and the impact of high interest rates.
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Episode highlights
- The Painful Housing Market of 2023Susan Wachter discusses the challenges facing the housing market, including high interest rates and low inventory.“It’s a painful housing market, a housing market in recession.”1:17Dec 27, 2023
- Future Relief in Housing MarketSusan predicts a turnaround in the housing market by the end of 2024 due to declining interest rates.“We’re going to see a dramatic decline in ten-year rates over the next 12 months.”6:10Dec 27, 2023
- Commercial Real Estate UncertaintySusan addresses the distress in the commercial real estate market and the impact of high interest rates.“We could have more distress in the commercial market as we have this wall of debt.”10:39Dec 27, 2023
