\u201cLower interest rates would generate more home sales, but as the below post points out, it may accelerate a decline in home prices,\u201d DeSantis said, referring to an X link<\/strong><\/a> that suggested sellers will \u201cpanic\u201d if the rates drop and their homes still didn\u2019t move.<\/p>\n \u201cThe higher rates are inhibiting price discovery and the median home price is way out of whack with median household income,\u201d DeSantis added.<\/p>\n DeSantis also suggested that today\u2019s interest rates, which range between 4.25% and 4.5%, are keeping older homeowners from selling out and moving somewhere smaller, amplifying a suggestion<\/strong><\/a> that a \u201cbenefit of lower interest rates is that they would also allow seniors to downsize.\u201d<\/p>\n Interestingly, DeSantis also had complaints<\/a><\/strong> in 2023, when rates ranged between 4.75% and 5%.<\/p>\n He quibbled with the Fed having \u201cput rates to zero\u201d after the federal government \u201cprinted trillions and trillions of dollars.\u201d After that, he said \u201chiking rates very rapidly\u201d ended up \u201ccausing dislocations in the banking sector.\u201d<\/p>\n Closer to home, DeSantis signed legislation last year allowing much higher interest rates on consumer finance loans<\/a><\/strong>, boosting that number to 36% a year under some circumstances. That measure was among the final bills<\/a><\/strong> he signed in June 2024.<\/p>\n It\u2019s uncertain if that vig drove or inhibited \u201cprice discovery\u201d for those who needed the loans.<\/p>\n
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\n\t\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"People can’t afford homes. Is that Jerome Powell’s fault? With housing prices still remaining out of reach for…\n","protected":false},"author":3,"featured_media":118519,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[64,11763,267,135,14516,74053,67,132,68],"class_list":{"0":"post-118518","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-federal-reserve-bank","10":"tag-interest-rates","11":"tag-markets","12":"tag-ron-desantis","13":"tag-the-federal-reserve","14":"tag-united-states","15":"tag-unitedstates","16":"tag-us"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/114971262894953651","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/118518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=118518"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/118518\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/118519"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=118518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=118518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=118518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}