Experts say the Fed rate cut could help developers and single-family home buyers alike
Everybody from Wall Street to A1A was watching Fed Chairman Jerome Powell Wednesday as the Fed announced a quarter rate cut. It might not sound like alot – but it has symbolic significance: it’s the only rate cut since 2008.
And to real estate pros, they think it could spur another boom.
Why? Well quite frankly it will be cheaper to borrow money which benefits everyone from large scale developers, single family home buyer and even home builders – which is very important since some key markets are experiencing large home shortages.
The move could particularly benefit Fort Lauderdale as it experiences a rush of real estate development already in the face of shortages and one of the highest rents in the country. Added inventory could have a positive effect on supply and new residents looking to flock to the area from out-of-state destinations.