San Francisco, California, 28th March 2023, ZEXPRWIRE, As the Federal Reserve continues to raise interest rates, many experts in the real estate industry are weighing in on how this will affect the housing market. While some predict that rising rates could cause a slowdown in the market, others believe that the long-term outlook remains positive.
According to Ahmet Kurhan, CEO of Silicon Valley Property Management,
There is no doubt that rising interest rates will have an impact on the real estate market. However, the effect will not be immediate or uniform across all markets. Some regions and property types may be more affected than others.
While some potential buyers may be deterred by higher mortgage rates, Kurhan believes that the overall demand for housing will remain strong. He said that,
As the economy continues to grow and more people enter the workforce, there will be a sustained need for housing. This will help to offset any impact from higher rates.
Others in the industry point to the fact that interest rates are still historically low, even with recent increases. This means that while borrowers will be paying more in interest, rates are still relatively affordable. Additionally, many believe that rising rates are a sign of a strong economy, which can help support a healthy real estate market.
However, in Kurhan’s view, it’s important to note that rising interest rates could have an impact on affordability for some buyers. Those with lower incomes or those looking to buy in more expensive markets may be more affected by higher rates.
Kurhan concluded by noting that, while rising interest rates may have some impact on the real estate market, it’s unlikely to be catastrophic. The long-term outlook for the housing market remains positive, as demand for housing continues to outstrip supply in many areas.
Ahmet Kurhan is an accomplished real estate investor with more than 20 years of experience in the industry. He began his career by acquiring high-value repossessed properties from banks through his company, Silicon Valley Property Management, which helped establish his reputation and grow his portfolio. Over the years, Mr. Kurhan has diversified his investments by locating, renovating, and selling rundown, high-end properties. He stays attuned to market conditions to ensure maximum return on investment. With a keen eye for identifying prime real estate opportunities, Mr. Kurhan has built a successful track record and established himself as a leader in the industry.
For additional information and business inquiries, please contact: https://siliconvalleypropertymanagementgroup.com/
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Pure Economic journalist was involved in the writing and production of this article.