Breaking Down Biden's Housing Settlement & Powell's Insights - Tom's Take 368

Last week, Jerome Powell and President Biden addressed critical housing issues. Let's unpack it all. 👀 President Biden discussed a $418 million settlement, pending changes set for mid-July. Notably, compensation offers will be removed from the MLS, and buyers must sign contracts before touring homes. 🏡 However, Biden's claim of newfound commission negotiation rights is inaccurate. Commissions have always been negotiable. ❌ Meanwhile, Jerome Powell highlighted subdued housing activity due to higher rates, suggesting stable rates in the near future. 📈 With these changes, it's crucial to understand the financial implications. Whether buying or selling, discuss costs and monthly payments with your real estate agent. Transparency is key, ensuring informed decisions amid evolving regulations. 🤝 Schedule a discovery call with our team! https://calendly.com/tomtoole