NW Arkansas housing prices have fallen about 15%. Homes are on the market longer than last year.
FED is meeting today and tomorrow and will probably increase the rate by 1/4 point.
.25% more rate will not really affect the car and housing market, it may not tip the commercial lending market, but it sends the same worn out message. Both buyers are sitting on the sidelines until rates drop immensely, 50% less carry cost, half the rates.
Inflation is driven by the Russo-Ukraine war in many ways we are not seeing, and the fed has finnaly turned off non free market place for banks to dump their crap. Grain and fertilizer up 50%+ and oil has a 30% premium. The commercial real estate crash is here, not because of fed actions but end date or the internal terms on commercial loans make a setting of the new rates unavoidable for the both the bank and the investors. Think the Fed might have fighured out they needed to slam the brakes hard with post covid and do a hard, early and fast recovery time adjustment, instead in practice they boiled the frog slowly. A good portion of the population has no idea what has happened or why cities bussiness districts are dead and rotting.