The Million Dollar Question

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Uncertainty is all around us, from price increases for gas, food and shelter to the war in Ukraine that will change the way business is conducted between the West and Russia. But where do we go from here and what does it mean to the local housing market?

The sudden, dramatic increase in the price of essential goods will cut into budgets. As a result, discretionary spending will be tight – if there is any – and will have ripple effects across the economy. Supply-side problems are going to take several months to stabilize. The upside of inflation, however, may be home values not plummeting and having instead a soft landing.

The mortgage professional Westlake village industry will make changes to accommodate the new lending environment. Hybrid ARMS will again play a role in giving borrowers an option for a lower rate. Although we are seeing an increase in inventory, and days on the market, the pent-up demand for housing, as long as it is affordable, should continue. There are always buyers and sellers.

Elite Financial has an arsenal of loan products to satisfy a variety of borrowers.

Mike Kagan

President

NMLS# 264875 

805-494-9930  818-991-5959   C. 818-406-1300

2239 Townsgate Road, Suite 110, Westlake Village, CA 91361.  Equal Opportunity Lender.