Jeff Taylor forecasts a robust Housing Market – talks to Yahoo Finance, The Ticker ShowJune 30, 2020
Jeff Taylor, Co-Founder and Managing Director at Mphasis Digital Risk appeared on Yahoo Finance, The Ticker Show with host Akiko Fujita forecasting future positive movement in the housing market.
Jeff says that the V-shaped recovery is starting to look real and is being reflected in the housing market. Interest rates are at an all-time low, consumer sentiment is high and inventory has never been tighter all which bodes well for a strong recovery. Additional good news is that purchases by first-time buyers picked up to 34% in May, up from 33% last year which means millennials continue to be in the market. There is a record amount of equity, $18.7 pre-pandemic, and while there are $4 million homes requesting forbearance, 30% of them continue to pay signaling that homeowners are making their mortgage payments a priority.
Commenting on the areas of strongest growth, Jeff highlights the work from home situation and how it suggests a boost in the sub-urban housing market. Jeff predicts a very strong purchase market which is sure to climb up in the months to come.
Watch the full clip here