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SilentKz's avatar

Excellent post and it connected some dots for me. Namely, one of the unintended consequences of the immigration crackdown could be greater stress on multi-family as vacancy rises and additional supply comes online.

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Egor Bezel's avatar

Great post as always!

We are up for an interesting mechanics when there will be less people employed, but UR stays relatively low - which would make Fed cut rates at a lower pace, while economic activity is slowing. That would probably go on until something cracks significantly and then rates drop like a stone

And then we will have a few years of recovery with CPI inflation below actual because of OER and FHA reform, which would force fed to keep rates to low for longer again😂

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