Just when you thought the NAR lawsuit coverage was over, Keller Williams agrees to settle for $70M, bringing a big blow to real estate agent commissions. How will this impact buyers and sellers, and are we entering a new age of home buying where only a fraction of the real estate agents exist? We’re getting into this headline and others affecting the housing market in BIG ways in this episode of On the Market.
Some agents will thrive while others barely survive in a post-NAR lawsuit world as real estate agent commissions are threatened once again. But it isn’t only agents getting hit hard this week. Banks have been “rocked” by real estate losses, primarily commercial real estate, as loans come due, but investors aren’t able to pay. One bank saw its share price slide by more than fifty percent this month as earnings reports showed a major loss from lending this quarter.
Finally, it wouldn’t be a headlines show if we didn’t touch on the jobs report. This month, we’re getting a mixed bag of good for the economy but bad for rates type of numbers. Jobs are growing, and the economy is still chugging along, but will this push rate cuts back as the Fed fails to find weakness in our economy? We’re giving you our thoughts on this episode!
Dave:
Hey, everyone. Welcome to On the Market. I’m your host, Dave Meyer, and today we’re going to be digging into three of the most pressing and important headlines facing the real estate investing industry. And to do that, I have my friends, Kathy Fecke, James Dannard and Henry Washington joining us. Kathy, how are you today?
Kathy:
Doing great. We survived the atmospheric river, so all good.
Dave:
What is an atmospheric river?
Kathy:
Apparently when the clouds open up and just dump a lot of water.
Dave:
Rain? Is that just a fancy term for rain?
Kathy:
Yeah, life-threatening rain in California.
Dave:
Okay. Well, this is maybe why on this episode we’re going to be digging into headlines so that we don’t just see things…