{"id":1832444,"date":"2023-02-02T09:06:08","date_gmt":"2023-02-02T14:06:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1832444"},"modified":"2023-02-02T09:08:54","modified_gmt":"2023-02-02T14:08:54","slug":"investment-firm-ceo-warns-u-s-housing-market-seeing-meaningful-damage","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/investment-firm-ceo-warns-u-s-housing-market-seeing-meaningful-damage\/","title":{"rendered":"Investment Firm CEO Warns U.S. Housing Market Seeing \u201cMeaningful\u201d Damage"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Finvestment-firm-ceo-warns-u-s-housing-market-seeing-meaningful-damage%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1832444&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47-->\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Pulte Capital CEO Bill Pulte talks about the housing market, as the U.S. 30-year fixed rate mortgage rate drops to 6.1% for the fourth consecutive week. \u2018Mornings with Maria.\u2019<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/real-estate\" target=\"_blank\" rel=\"noopener\">The U.S. Housing Market<\/a> According to one CEO of a private equity investment company, it is going to be a difficult year.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/real-estate\/mortgage-rates-continue-downward-trend\" target=\"_blank\" rel=\"noopener\"><strong>GOLDMAN SACHS SAYS THAT 4 US CITIES WILL SUFFER A 2008 CRASH IN HOUSE VALUES<\/strong><\/a><\/p>\n<p>&#8220;In 23&#8242; it&#8217;s going to be slow. I think we&#8217;re going to have a tough row to hoe. I think that coming in the next year, you&#8217;re really going to see the damage that&#8217;s going on,&#8221; Bill Pulte, Pulte Capital CEO, explained on<a href=\"https:\/\/www.foxbusiness.com\/shows\/mornings-with-maria\" target=\"_blank\" rel=\"noopener\"> &#8220;Mornings with Maria.&#8221;<\/a><\/p>\n<p>&#8220;We need to make sure that these management teams are completely focused on executing right now because, Maria, you get 40% reduction in orders. And the big builders, they need to step up their game right now,&#8221; He continued.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/04\/931\/523\/GettyImages-1239200130.jpg?ve=1&#038;tl=1\" alt=\"for sale sign in front of building\"   style=\"display:none\"><\/div>\n<div class=\"caption\">\n<p><span>According to Bill Pulte the 2023 housing market will slow down.\u00a0<\/span><span> (STEFANI REYNOLDS\/AFP via Getty Images \/ Getty Images)<\/span><\/p>\n<\/div>\n<\/div>\n<p>The 30-year fixed rate mortgage rate dropped to 6.19% for the fourth week, from 6.23% last Monday. The average rate, which was 3.54%, was almost half of what it was a year ago.\u00a0<\/p>\n<p>Maria Bartiromo, host, pointed out that the rate for home-buying mortgage applications is down 10% and asked Pulte if he believes the U.S. housing sector is currently in recession.\u00a0<\/p>\n<p>&#8220;It&#8217;s going to be a tough row to sow the rest of the year. And I think you heard that on the earnings call. I think you&#8217;re going to see that coming into \u2013 even next year, frankly \u2013 Because, Maria, these orders are down,&#8221; He stressed. &#8220;Pulte Group&#8217;s orders, for example, are down 40% year-over-year. I mean, that&#8217;s meaningful, Maria. <a href=\"https:\/\/www.foxbusiness.com\/category\/recession\" target=\"_blank\" rel=\"noopener\">So, you can call it a recession.<\/a> You can call what you want, but 40% orders being down, that&#8217;s not normal.&#8221;\u00a0<\/p>\n<div class=\"featured featured-video video-ct\">\n<div class=\"contain\">\n<div class=\"info\">\n<div class=\"caption\">\n<p>Mauricio Umansky, the Agency&#8217;s founder and CEO, reacts to the Goldman Sachs Report that indicates which U.S. towns are likely to experience a crash in their home values.\u00a0\u00a0<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.foxbusiness.com\/real-estate\/interest-rate-volatility-inflation-cripples-housing-market-stability-economy-redfin-ceo\" target=\"_blank\" rel=\"noopener\"><strong>INTEREST RATE VOLATILITY and INFLATION CRIPPLES HAOUSING MARKET BUT STABILITY WILL HELP ENTIRE REDFIN CEO<\/strong><\/a><\/p>\n<p>Pulte was supported by the FOX Business host, citing the November CaseShiller 20-city Index that showed home prices had fallen.08% in November. This is the fifth consecutive month of declines. Bartiromo claimed that this report&#8217;s nature would be an &#8220;encouragement&#8221; Consumers can &#8220;get in the market,&#8221; Many are instead getting a mortgage rate &#8220;sticker shock.&#8221;<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/real-estate\/white-house-using-one-size-fits-all-plan-protect-renters-landlords-expense-very-frustrating\" target=\"_blank\" rel=\"noopener\"><strong>WHITE HOUSE &#8211; ONE-SIZE FITS ALL PLAN TO PROTECT RENTERES AT LANDLORDS\u2019 EXPENSE : &#8216;VERY FRUSTRATING &#8216;<\/strong><\/a><\/p>\n<p>&#8220;It is. But Maria, one of the things, and you should know this, that&#8217;s really happening in the industry, <a href=\"https:\/\/www.foxbusiness.com\/real-estate\/affordability-homebuyers-wallets-builders-face-worse-case-scenerio\" target=\"_blank\" rel=\"noopener\">which is why a lot of these builders<\/a> and VR reported. For example, last night the third-biggest builder, they reported a great report as well,&#8221; He explained.\u00a0<\/p>\n<div class=\"inline image-ct\">\n<div class=\"m\"><source media=\"(max-width: 767px)\" \/><source media=\"(min-width: 768px) and (max-width: 1023px)\" \/><source media=\"(min-width: 1024px) and (max-width: 1279px)\" \/><source media=\"(min-width: 1280px)\" \/><img decoding=\"async\" src=\"https:\/\/a57.foxnews.com\/static.foxbusiness.com\/foxbusiness.com\/content\/uploads\/2022\/06\/931\/523\/house-sales-6.21.22.jpg?ve=1&#038;tl=1\" alt=\"new build construction\" \/><\/div>\n<div class=\"caption\">\n<p><span>On his appearance &#8220;Mornings with Maria,&#8221; Wednesday was Bill Pulte&#8217;s argument that the U.S. needs its big builders to be rehabilitated \u2018step up their game\u2019 We are trying to alleviate the weak real estate market.<\/span><span> (Photographer: Rebecca Noble\/Bloomberg via Getty Images\/Getty Images<\/span><\/p>\n<\/div>\n<\/div>\n<p>Pulte continued by pointing out the fact that many builders use cash to pay down interest costs for consumers.\u00a0<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/\" target=\"_blank\" rel=\"noopener\"><strong>CLICK HERE FOR MORE INFORMATION ON FOX BUSINESS<\/strong><\/a><\/p>\n<p>&#8220;So effectively, you know, you showed that the rates were 6% plus maybe 7% in some cases. They&#8217;re able to get these rates down to like 4% with what the builders are offering in terms of incentives,&#8221; Pulte concluded.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Pulte Capital CEO Bill Pulte talks about the housing market, as the U.S. 30-year fixed rate mortgage rate drops to 6.1% for the fourth consecutive week. \u2018Mornings with Maria.\u2019 The U.S. Housing Market According to one CEO of a private equity investment company, it is going to be a difficult year.\u00a0 GOLDMAN SACHS SAYS THAT &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1568190,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[547],"tags":[17356,3850,9471,5246,4344,9177,4545,7238,3633],"class_list":["post-1832444","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-bongino-report","tag-meaningful","tag-ceo","tag-damage","tag-firm","tag-housing","tag-investment","tag-market","tag-u-s","tag-warns"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1832444","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1832444"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1832444\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1568190"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1832444"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1832444"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1832444"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}