Marcus Lemonis: ‘The Housing Market Is a Function of Three Things’ Beyond Mortgage Rates

RUSH EXCERPT:

LEMONIS: “But we can do is have places like Philadelphia in California suggesting that they are going to get into the mortgage business providing people between 18 and 34 years old mortgages that have very little down payment of very little qualification standards. We know the housing market is a function of three things. It’s a function of the cost of the home and we have the low supply. It’s a function of mortgage rates and that’s iterative the 10 year treasury and is now down below five as we close out this recent week. More pertinent that if you look at what the governor and the state of Florida is doing to address property taxes a lot of people talk about housing affordability being just the price of my mortgage of the price of a home but is at the cost of homeownership. When you see I think very practice states like Florida starting to address homestead exemptions in other states challenging the validity of property taxes, you are on the nose hitting housing authority ability.”