On this episode of "Real Estate Jerky Daily," hosts Mike Kelly and Ed Parcaut dive into the latest market updates and discuss various topics related to real estate and the economy. They start by sharing their experiences and jokingly discussing their time orientation. The hosts then touch on the opportunities in the current real estate market and address the concerns of pessimistic individuals.  Moving on, they analyze the recent Personal Consumption Expenditures (PCE) numbers and the Fed's measure of inflation, offering their own insights and observations. The hosts also discuss consumer confidence, the possibility of a recession, and mortgage delinquencies, focusing on Idaho's unique situation. 🌟 Key Takeaways:
1️⃣ Housing Opportunities: Despite some homes being on the market for a while, there are still great opportunities in the $450K-$650K price range. If you're willing to put in some work, you can find a fairly nice property with potential.
2️⃣ Inflation Update: The Fed's measure of inflation, personal consumption expenditures, showed a rise of 4 tenths of a percent in August. Year over year, the index increased from 3.4% to 3.5%. However, the core PCE, which excludes certain factors, showed a decrease from 4.3% to 3.9%, indicating some fluctuation.
3️⃣ Mortgage Delinquencies: July saw near all-time low mortgage delinquencies in the US, with only one state showing a slight increase. Idaho, where many homes were bought for Airbnb purposes, experienced this uptick. This highlights the impact of changing rental trends on real estate markets. Throughout the episode, Mike and Ed engage in casual banter and share their personal anecdotes related to the topics discussed. Stay informed on the latest market trends and enjoy some lighthearted real estate conversations with Mike and Ed on "Real Estate Jerky Daily." www.edparcaut.com #RealEstateJerkyDaily #MarketUpdates #HousingOpportunities #InflationUpdate #MortgageDelinquencies #RealEstateInsights