The Government is Going Broke, Saied's Favorite Curves and a Vacation

<p>According to the National Association of Realtors (NAR), sales of previously owned homes declined 5.9% in October from the prior month to a seasonally adjusted annual rate of 4.43 million, the weakest rate since May 2020. October sales fell 28.4% from a year earlier, the biggest annual decline since February 2008. Home sales have been dropping each month since February. From their recent peak in January, existing-home sales have dropped about 32%. The slowdown is due to a rapid increase in borrowing rates. The average rate on a 30-year fixed-rate mortgage began to climb rapidly in the first quarter and rose above 7% earlier this month. Mortgage rates eased this week but are still more than double where they stood a year ago.</p><p>In today's episode of The Higher Standard, Chris and Saied dive into these numbers to help you understand what they mean for the economy and the fight against inflation.</p><p><br></p><p>They play a game of 'What if?', trying to determine the effect on the market, both short and long term, if the Fed funds rate were to reach 10%.</p><p><br></p><p>Chris and Saied discuss the concept of a yield curve inversion and why it matters to the economy.</p><p><br></p><p>They also discuss a recent report indicating that the city of San Francisco could lose up to $200 million in property tax revenue by 2028 as record office vacancies, fueled by remote work and uncertainty in the tech industry.</p><p><br></p><p>Join Chris and Saied for this fascinating conversation.</p><p><br></p><p>Enjoy!</p><p><br></p><p><strong>What You’ll Learn in this Show:</strong></p><ul><li>Why banks are pulling back on lending to both households and businesses.</li><li>Why the yield curve inversion is an indicator of a future recession.</li><li>How long it actually takes to get a real estate license.</li><li>The reasons why US home sales have fallen for the ninth straight month.</li><li>And so much more...</li></ul><br/><p><br></p><p><strong>Resources:</strong></p><p><a href="https://apple.news/Ac-ljfVGxTTSiaghQyzpdKA" re