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The Real Estate News Brief: Rate Hike Predictions, Surge in Eviction Rates, Commercial Real Estate Distress

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Sinopsis

In this Real Estate News Brief for the week ending June 24th, 2023... what the Fed Chief is saying about another two rate hikes, where evictions are rising the most, and how the economy is impacting commercial real estate.   Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.   Economic News   We begin with economic news from this past week, and comments from Federal Reserve Chairman Jerome Powell about interest rates. He testified before Congress that U.S. inflation is still too high and that more rate hikes are likely this year. He told members of the House Financial Services Committee: “Nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year.” But he also says that decisions will be made “meeting by meeting” so there’s no timetable as to if or when this will happen. Most of the members are anticipating two more quarter point rate hikes. (1)   In a more positi