The Latest in Real Estate: Unemployment Spikes and Pending Home Sales Plummet

Welcome to " Real Estate Jerky Daily"! In this episode, hosts Mike Kelly and Ed Parcaut dive into a wide range of topics, including their thoughts on the Denver Broncos' recent performance, the challenges in finding good employees in the current market, and the impact of the COVID-19 pandemic on the real estate industry. They start off by discussing the Broncos' game and how the team's ownership change may have affected their performance. They also touch upon the struggles of their quarterback and the lack of support from the front line. Moving on to real estate news, Ed discusses the latest numbers, including initial jobless claims, which surprisingly went up by 2,000 to 204,000. He explains that this could be due to employers holding onto their employees, hoping for a market turnaround. They also highlight the decrease in pending home sales, indicating a potential bubble and a shortage of inventory. The hosts also share insights on the state of the economy, considering factors such as the final reading of second-quarter GDP and loan performance. They remark on the concerning credit card debt levels and the challenges faced by low and middle-income individuals in making payments. Wrapping up the episode, the hosts discuss the Federal Reserve's position on keeping the funds rate steady until next year and the ongoing hot housing market. They emphasize the need to improve credit scores to secure better interest rates in the current market environment. Overall, "Ed Parcaut: Market Update Thursday Edition - 928 Real Estate Jerky Daily" provides listeners with valuable insights into the current state of the real estate industry, the economy, and the challenges that both buyers and sellers are facing. Tune in for a comprehensive market update and engaging discussions on a variety of relevant topics. #RealEstateJerkyDaily #MarketUpdateThursday #BroncosRecord #TikTokReactions #JoblessClaimsRise #PendingHomeSalesFall #GDPRevisedLower #LoanPerformanceReport #FedFundsRate #RedHotHousingMarket #HousingBubble #NoInventory #CreditCardDebt #InterestRatesRising #CreditScoreMatters #TargetsClosingWokeStoresBecome a supporter of this podcast: https://www.spreaker.com/podcast/real-estate-jerky-daily--6413899/support.