Why housing won't get much cheaper when the Fed cuts interest rates [Business Insider]
Morgan Stanley (MS)
Last morgan stanley earnings: 4/16 07:15 am
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Source: Business Insider
The bank thinks housing costs will slow their pace of growth, but won't see a decline. Homebuyers and renters shouldn't count on getting much relief from high housing costs, according to Morgan Stanley. Costs have been steadily rising for both buyers and renters in the past year. The median US home price rose 5% year-over-year in May to a record $438,601, according to Redfin data. Meanwhile, median asking rents in the US ticked 0.8% higher to $1,653 a month, just $47 shy of the all-time high notched in 2022. The surge in home prices has been driven by the "lock-in" effect throughout the market, as prospective sellers hold off listing their homes to avoid having to finance a new mortgage at a higher rate than what they locked in previously. Related stories Sidelined homebuyers, meanwhile, have been renting , which has driven demand for rental units and raised costs. The result is the most unaffordable housing environment buyers and renters have seen in years. Renters now h
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News
- Jobs report today: Economy added 206,000 jobs in June, unemployment at 4.1% [USA TODAY]USA TODAY
- US employment, wage growth expected to moderate in June [Yahoo! Finance Canada]Yahoo! Finance Canada
- US employment, wage growth expected to moderate in June [Yahoo! Finance]Yahoo! Finance
- French and UK Stocks Outshine European Peers Ahead of Elections [Financial Post (Toronto, Ontario, Canada)]Financial Post
- French and UK Stocks Outshine European Peers Ahead of Elections [BNN Bloomberg (Canada)]BNN Bloomberg
MS
Earnings
- 4/16/24 - Beat
MS
Sec Filings
- 7/5/24 - Form 424B2
- 7/5/24 - Form 424B2
- 7/5/24 - Form 424B2
- MS's page on the SEC website