Brown Harris CEO Freedman Sees Sluggish Housing Market

The video discusses the impact of rising mortgage rates on the housing market, highlighting how potential buyers and sellers are affected. It covers New York City's plan to add 20,000 housing units and rezone Midtown, addressing the city's housing needs amid a migrant crisis. The luxury market in areas like the Hamptons and Palm Beach is examined, noting high prices and low inventory. The video concludes with an analysis of economic signals, including recession fears, inflation trends, and interest rate expectations, suggesting that rates may remain high.

What is the significance of 'scarcity value' in the current housing market?

How do current inflation rates affect expectations for mortgage rates in the future?