The Real Estate News Brief: Mortgage Rates Drop, 2024 Real Estate Trends, Destination: North Texas

In this Real Estate News Brief for the week ending December 9th, 2023… the latest big drop in mortgage rates, what Redfin is predicting for 2024, and another reason to live, work, visit, or invest in North Texas. We begin with economic news from this past week. Several financial institutions are predicting a noticeable economic slowdown in the fourth quarter. BofA is forecasting a GDP of just 1%. Goldman and the Atlanta Fed lowered their GDP estimate to 1.4 for Q4.. This follows a revised GDP of 5.2% in Q3, according to the Commerce Department. The job market is still strong however with a surprise decline in the unemployment rate in October. The Bureau of Labor Statistics says it fell from 3.9% to 3.7%. In November, U.S. companies added another 200,000 jobs which is a 50,000 month-over-month increase... Redfin Predicts a Better Year for Homebuyers ...Many of our RealWealth investors are taking advantage of that growth curve by investing in our North of Dallas Rental Fund. We have been buying fixer upper homes, and renovating them as attractive single-family rentals which are put into the fund. This fund is closing soon, but you can find out more at growdevelopments.com. That's it for today. You can read more about all the stories in this episode by following links in the show notes at newsforinvestors.com. If you want to build your own individual portfolio of rental homes, please sign up as a Real Wealth member. It's free to join and will give you access to all our housing market data, hundreds of webinars, and a long list of recommended real estate professionals including our experienced investment counselors.And please remember to subscribe to this podcast, and leave a review! Links: 1 - https://www.calculatedriskblog.com/2023/12/q4-gdp-tracking-close-to-1_8.html 2 - https://www.axios.com/2023/11/29/gdp-q3-us-economy-revised-growth 3 - https://finance.yahoo.com/news/november-jobs-report-unemployment-unexpectedly-declines-in-november-as-us-labor-market-continues-to-impress-133205002.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAI_Cm2MsSRUD17lSNhW1SE6dmtDy882DSNC4V8y9sCfZIJzm3gBlfCiZ62ExlnllnHZDIkYzIfjFns47s-9llclGmcNpb9wkAPAJpwcF0mmC4DPQo9Wg8OsOLAdHW9jaF8yucA1DLiko_moOkuxT4FxqoZhj-GBllMlT9FDm7_i5 4 - https://www.marketwatch.com/story/jobs-report-shows-199-000-gain-in-november-wages-rise-sharply-dd631659?mod=home-page 5 - https://www.marketwatch.com/story/job-openings-in-the-u-s-fall-to-28-month-low-404b6338?mod=economy-politics 6 - https://www.marketwatch.com/story/jobless-claims-inch-up-to-220-000-layoffs-still-low-d6763c88?mod=economy-politics 7 - https://www.cnbc.com/2023/12/08/inflation-expectations-plunge-in-closely-watched-university-of-michigan-survey.html 8 - https://www.freddiemac.com/pmms 9 - https://www.nar.realtor/magazine/real-estate-news/mortgage-rates-are-almost-back-to-7-percent 10 - https://www.redfin.com/news/housing-market-predictions-2024/ 11 - https://www.constructiondive.com/news/universal-kids-resort-frisco-balfour-beatty/701985/