realestate

Real Estate's Hidden Problem: A Barrier to Success

Barbara Corcoran: Tariff Concerns Fueling Uncertainty in Real Estate Industry.

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arbara Corcoran, a Shark Tank investor and head of the Corcoran Group, attributes the current pause in the US housing market to uncertainty. "A lot is going wrong," she said on Fox News' America's Newsroom, but "uncertainty" is the biggest problem. This uncertainty makes people hesitant to make decisions, which is problematic for businesses.

    The shortage of homes in America, with seven million units lacking, has led suppliers to hoard lumber due to concerns over tariffs. Corcoran emphasized that uncertain individuals don't move forward, and this hesitation is a major issue in the housing market.

    A combination of factors, including low supply, high prices, stagnant wages, and uncertainty, has created a challenging environment for homebuyers. However, recent data shows a slight improvement, with home costs increasing by 4.2% from last year – the slowest monthly rise since December 2021. Despite this, Corcoran believes many Americans won't see significant relief.

    She noted that while housing prices are slowing down, they're still rising, and the decrease is less than a quarter percent. This doesn't provide substantial relief for those struggling with housing costs. According to Corcoran, high interest rates are also a major issue, with over two-thirds of Americans facing 4% interest rates. This makes it difficult for people to sell their homes or move due to the attractive interest rate they're currently enjoying.

Real estate professionals face obstacles hindering success in the industry nationwide.