Higher interest rates are at least having their expected side effects, causing the real estate market and economy in general in an attempt to get inflation under control. I did a little research and found it appears to be working, at least to some extent. Inflation peaked in July at 9.1% but has since dipped to 7.7%. Normal “healthy” inflation is somewhere around 2%, which we haven’t seen since February 2021. It’s to be hoped that this spring we’ll see a dip in mortgage interest rates, spurring another very buyer-friendly market. Unfortunately Fed Chair Janet Yellen (who admittedly has very limited credibility at this point) recently predicted inflation will still be above nominal for another couple of years.
The results of the 6th Annual John Angell Real Estate Group Pumpkin Carving Competition are in. As always the competition was fierce, but my judging committee (I’m sure you can guess her name) deemed Wally & Audrey Williams’ 1st prize winner.
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