The Real Estate News Brief: Rate Cut Predictions, Major Cities Attracting Home Buyers, AI's Impact on CRE

In this Real Estate News Brief for the week ending April 6th, 2024... more prognostications on when the central bank may cut rates, which major cities are attracting the most home buyers, and why artificial intelligence could have a negative impact on commercial real estate.   We begin with economic news from this past week. Fed Chief Jerome Powell expressed caution about when we might see the first interest rate cut. While many economists have been predicting three rate cuts this year with the first happening in June, Powell said it's too soon to say exactly when it may be appropriate to begin the rate cutting process. He spoke at Stanford University saying: "Recent readings on both job gains and inflation have come in higher than expected" and that policymakers believe rate cuts may be possible later this year but they need "greater confidence that inflation is moving sustainably down" toward the central bank's 2% target...   ...That's it for today. To keep up with the latest in real estate, the economy, and rental market investing, sign up for a free membership at RealWealth.com. Check out the live events calendar for information on our upcoming event this May. It's our ReaWealth Investor Summit on Saturday, May 4th in San Francisco. We'll have several property teams giving presentations on their markets and a cocktail party in the evening. That's at newsforinvestors.com. Just go to the Connect tab and click on Live Events.   I also remind everyone to please subscribe to our podcast and leave a review, we really appreciate it!   Thank you for joining me! Kathy Fettke   Links:   1 - https://www.marketwatch.com/story/feds-powell-too-soon-to-say-if-recent-higher-than-expected-inflation-is-just-a-bump-887bd346?mod=search_headline   2 - https://www.reuters.com/markets/rates-bonds/feds-powell-repeats-there-is-time-deliberate-over-rate-cuts-2024-04-03/   3 - https://www.investopedia.com/when-will-the-federal-reserve-start-cutting-interest-rates-8624420   4 - https://www.marketwatch.com/story/jobless-claims-climb-to-nine-week-high-of-221-000-but-theres-little-sign-of-worsening-labor-market-fb365f0a?mod=economy-politics   5 - https://www.marketwatch.com/story/job-openings-stay-at-8-8-million-labor-market-still-plenty-robust-addb1604?mod=home-page   6 - https://www.marketwatch.com/story/eye-popping-march-jobs-report-shows-labor-market-and-u-s-economy-are-still-going-strong-c076e60f?mod=economy-politics   7 - https://www.marketwatch.com/story/construction-spending-posts-bigger-than-expected-drop-ad1f19b5?mod=economic-report   8 - https://www.freddiemac.com/pmms   9 - https://www.globest.com/2024/04/03/five-markets-desired-by-homebuyers/   10 - https://www.globest.com/2024/04/05/millennials-now-largest-homebuying-contingent/   11 - https://www.globest.com/2024/04/05/generative-ai-could-undercut-labor-income-affecting-the-entire-economy/