October 19, 2023· 41 min

This Is What an 8% Mortgage Means For the Housing Market

Orality
Model
66%
Oral-dominant (speeches, podcasts, storytelling)

Speaker Breakdown

HostTracy Alloway(2,036 words)
M:29%
HostJoe Weisenthal(1,540 words)
M:28%
GuestJim Egan(3,972 words)
M:26%

Oral Indicators

Agonistic29%
literally, completely, basically
Engagement64%
you, our, your
Memory Aids100%
listen, now, see
Repetition100%
like (81x), think (58x), rates (53x)
Parallelism78%
And I'm Joe Weisenthal...., So, the sentiment of the home ..., But fast forward to October 20...
Sound Patterns62%
52 question(s), alliteration: "markets move", alliteration: "barclays brief"
Formulaic Phrases7%
you know what, i mean, if you will

Literate Indicators

Hedging8%
might, probably, may
Passive Voice2%
be asked, is when, is owned
Abstract Nouns19%
investment, recommendation, association
Subordination11%
because, while, since
Sentence Length36%
Avg: 14.0 words/sentence
Word Complexity47%
investment, analyze, anticipate
Academic Markers4%
according to
Impersonal Style36%
532 personal pronouns found
Descriptive Style100%
literally, completely, actually

Description

Mortgage rates have surged over the last couple of years. But surprisingly to some, actual home prices in the US have been resilient. This has created a historic shock to affordability, with a typical monthly payment on a home purchase soaring. But how long can this go on? Particularly as rates continue to rise, with a 30-year fixed rate mortgage near 8% now, we speak with Morgan Stanley housing strategist, and past Odd Lots guest, Jim Egan, about the impact of this rate environment. He explains why we may be at the limit to how far house prices can rise, and why at this point, the key variable is whether more supply comes onto the market. See omnystudio.com/listener for privacy information.