Charles Young on mortgage rates
From Supply will make the housing market challenging: Invitation Homes CEO · · CNBCTelevision
“If you look at the average household and consumer, they're still strong — you still have 83% of mortgages in the U.S. sub 5% and 63% sub 4%, so price stability in current mortgages across the country is actually helping housing prices and created a favorable environment for builders.”
On , Charles Young, President at Invitation Homes Inc, spoke about mortgage rates during Supply will make the housing market challenging: Invitation Homes CEO on CNBCTelevision.
About Charles Young
In an April 2023 appearance on CNBC's "Squawk on the Street," Invitation Homes CEO Dallas Tanner discussed the state of the housing market. He stated that single-family homes have "held up really well" and that the average household and consumer remain strong, noting that 83% of U.S. mortgages are below 5% and 63% are below 4%. Tanner described the "lock-in effect" as "real," saying it is suppressing transactions as homeowners choose to stay put. He characterized the market as "certainly a challenging market from a supply perspective." Tanner expressed support for California, calling it "one of the greatest economies in the world," but identified supply constraints as "the villain" in housing affordability. He argued that while federal policy can help, "we need the local levels to approve more housing" and noted that "as local municipalities get smarter around how to work with developers and builders you see supply come online."