Jordi Visser

And we've talked about it since he made the statement of declaring a national emergency on housing.

So clearly what they do in the administration, they know they have to do something on this.

They want to do it at a time clearly when people have money coming in.

So the one big beautiful bill, there's going to be a lot of surprises that come out.

And I think it's important for people to recognize that when we were just talking about the GDP numbers, the two quarters before of 4% and then currently GDP now at close to six, that's before we get the stimulus of the tax side in Q1.

So let's assume we end up at 4% for Q3 and we get a 4% in Q1 because of all the stimulus stuff coming through without getting inflation.

You'd be talking about year over year at 4%.

You got to go a long way outside of COVID in the bounce back, a non-recessionary post-period.

So I do think that the housing market is part of his promise to the American people of the distribution wealth issue and trying to find affordability for housing.

I think it is a mistake to fade

the fact that it's gonna have an impact.

And if you wanna take one side, it's very, very difficult to believe that housing prices are not gonna be impacted.

Meaning I would be surprised if you don't see house prices continue to be a zero inflationary component, if not a negative one, which is what we've been seeing, meaning they've been declining in terms of owner's equivalent rent.

So I just take it as he's continuing with his campaign promise of trying to find a way to help

middle America, people that are suffering out there.

But the reality is it's not going to change the housing market.

It's not going to be some big fix, but I think it's just additive to attempt to get the stimulus going in the way that we have using the tools that he has available to him.

How do you balance those?

So let's go this route.

First of all, mortgage spreads have come in and mortgage rates have come down.