Several economists in the attached article state that they don’t see a need for the Fed to raise rates in the first half of 2024. The only minor detractor is former Treasury Secretary Larry Summers who observes that if we don’t achieve a ‘soft landing’ and inflation regirds, the Fed may be forced to raise rates yet again. The other economists believe the Fed will ‘hold steady’ and rates will remain constant for the foreseeable future, namely through 2Q2024. They reason that the dormant real estate economy (sales volume was anemic in 2023) needs the constancy so that markets can return to some level of normalcy where ask/sell gap narrows and transactions occur. We can only hope.

 

 

Svikhart & Associates, a Salt Lake City-based real estate services company, focuses on asset management, brokerage listings and sales, and all aspects of a multifamily investment. Specific diligence regards property operations and strategies to maximize asset performance and value. Additionally, the firm assists owners regarding economic, financial and market factors that impact returns on investment. The firm targets ‘Mid-Tier’ assets which it defines generally as 10-to-60-unit properties.

 

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