September 24, 2024 | Driving It Home with ABoR's Housing Economist

In this episode of Driving It Home, Dr. Clare Knapp and Emily Chenevert discuss the recent Federal Reserve rate cut of 50 basis points, the first in more than four years. They explore its potential impact on the Austin labor market, which has seen contraction over the past year. Although unemployment remains low, job growth has stagnated, particularly in the professional and business services sector, which has experienced significant job losses. They also delve into the implications for the housing market in Austin. While mortgage rates have already been adjusting in anticipation of the Fed's move, further rate cuts could provide additional downward pressure. Emily emphasizes that even if mortgage rates don’t immediately drop, the rate cut creates a positive consumer sentiment. Finally, they encourage listeners to register now for two major events on the horizon: the North American Global Congress and the Central Texas Housing Summit on October 1-3.   Links Mentioned North American Global Congress https://www.abor.com/event-type/global-congress Central Texas Housing Summit https://www.abor.com/event-type/central-texas-housing-summit Central Texas International Homebuyers Report – *Coming October 2 at Central Texas Housing Summit Download an episode transcript: https://www.abor.com/content/uploads/2024/09/DIH-9-24-24.pdf Listen On: Apple: https://podcasts.apple.com/us/podcast/driving-it-home-with-abors-housing-economist/id1714289732 YouTube: https://www.youtube.com/playlist?list=PLzH_caxJ3VPq5iExWilqZOahnREgSFgqC  Connect with us on socials: https://www.abor.com/socials Connect with Dr. Clare Knapp on LinkedIn: https://www.linkedin.com/in/clare-losey  Have feedback? Email us at [email protected].