Blackstone Inc Chief Executive said redemptions in his firm's $69 billion non-traded REITs were driven by investors roiled by market volatility.
Researchers at Morgan Stanley expect the housing market to take a dive in 2023, blowing cold air on those who purchased a home in 2022.
BofA CEO Moynihan said activity in the U.S. housing market will probably slow for two years as the Federal Reserve raises interest rates.
US house prices could tumble as much as 20% in the wake of the surge in mortgage rates.
Fed suggested that lofty home prices could be susceptible to steep declines after big run-ups in recent years.
Mortgage rates dropped below 7% this week, but remain high enough to keep price-rattled homebuyers on the sidelines. Average 30yr fixed fell to 6.95%.
It should follow, that homeowners looking to refinance loans would also be headed to the sidelines in droves.
