Market Update: Unchanged Retail Sales, Slowing Economy, and Housing Challenges

Real Estate Jerky Daily

Welcome to the Market Update Tuesday Edition of Real Estate Jerky Daily with your hosts Ed Parcaut and Mike Kelly! In today's episode, we cover a range of real estate topics that are relevant to buyers, sellers, and industry professionals. From the latest on retail sales and housing market insights to intriguing political discussions, we've got it all. **In This Episode:** - Ed and Mike kick off with a light-hearted chat about their current deals and air conditioning woes. If you have a fantastic AC company recommendation, please drop it in the comments! - Retail sales data for June is dissected, revealing no drastic changes but highlighting core components that have seen an increase. - The freight report hints at less economic activity, and Dr. Lacy Hunt's insights on economic slowing and inflation are discussed. - A detailed explanation of the recent National Association of Home Builders (NAHB) numbers and what they mean for the housing market. - Discussion on the essential need for consumer education in home buying, with shocking stats on how little people know about down payment requirements. - Updates on Sacramento County's free ADU plans and the potential impact of Biden's proposed rent cap. - A deep dive into broader economic trends and political issues affecting the real estate market. **Key Quotes:** - "Most consumers don't know how much money they need for a down payment. Only 10% know you can buy with 5% down." - "Biden's push for housing is to make rents only max 5% a year for commercial properties." - "We need to do better at educating our youth about financial literacy and home buying."

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