{"id":3500,"date":"2022-09-16T18:13:01","date_gmt":"2022-09-16T18:13:01","guid":{"rendered":"https:\/\/www.realtrends.com\/blog\/2022\/09\/16\/redfin-ceo-responds-to-cardi-b-tweets-on-real-estate-market-woes\/"},"modified":"2025-03-13T02:46:55","modified_gmt":"2025-03-13T02:46:55","slug":"redfin-ceo-responds-to-cardi-b-tweets-on-real-estate-market-woes","status":"publish","type":"post","link":"https:\/\/www.realtrends.com\/blog\/2022\/09\/16\/redfin-ceo-responds-to-cardi-b-tweets-on-real-estate-market-woes\/","title":{"rendered":"Redfin CEO responds to Cardi B tweets on real estate market woes"},"content":{"rendered":"\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">Interest rate is going up in two weeks ,rent is over the top high ,and there\u2019s no inventory on homes \u2026WTF-_-<\/p>\u2014 Cardi B (@iamcardib) <a href=\"https:\/\/twitter.com\/iamcardib\/status\/1570806729419673600?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p>Entertainer Cardi B took to <a href=\"https:\/\/twitter.com\/iamcardib\/status\/1570806729419673600?s=46&amp;t=s1uzzNB1b3qiCPcyEYgLtQ\" target=\"_blank\" rel=\"noreferrer noopener\">Twitter<\/a> to express her concern about the current housing market, specifically high interest rates and rent as well as the current lack of inventory. <\/p>\n\n\n\n<p>She&#8217;s not wrong. According to an article HousingWire Reporter <a href=\"https:\/\/www.housingwire.com\/articles\/feds-beige-book-offers-grim-news-for-housing-industry\/\" target=\"_blank\" rel=\"noreferrer noopener\">Bill Conroy<\/a>, &#8220;The economic standoff between rising inflation and rising interest rates continues to weaken the housing market nationwide, with home sales falling across all 12&nbsp;<strong>Federal Reserve<\/strong>&nbsp;districts, according to the Fed\u2019s latest Beige Book report.&#8221;<\/p>\n\n\n\n<p>Rents have continued to rise. Despite that, according to <strong>Realtor.com<\/strong>, higher mortgage rates are making potential buyers reconsider homeownership, a monthly rental report published by&nbsp;<a href=\"https:\/\/www.realtrends.com\/blog\/articles\/volatile-mortgage-rates-keep-renters-from-buying-homes\/\" target=\"_blank\" rel=\"noreferrer noopener\">Realtor.com&nbsp;found<\/a>. As a result, more than three-quarters of people surveyed in the 50 largest metros favored renting in June, compared to just under half those markets in January, the report said.<\/p>\n\n\n\n<p><strong>Redfin&#8217;s<\/strong> economist Daryl Fairweather immediately responded to Cardi B with her own take. &#8220;Homeowners gained record equity in 2021 and locked in 3% mortgage rates. Why would they sell? If they buy again, they get a 6% rate. And, they can just wait until there&#8217;s even more buyers competing for homes. <a href=\"https:\/\/www.realtrends.com\/blog\/articles\/realtrending-redfins-glenn-kelman-wants-to-turn-all-buyers-into-cash-buyers\/\" target=\"_blank\" rel=\"noreferrer noopener\">Redfin CEO Glenn Kelman<\/a>, responded, &#8220;If CardiB replies to you, I am dying and heading straight to heaven.&#8221;<\/p>\n\n\n\n<blockquote class=\"twitter-tweet\"><p lang=\"en\" dir=\"ltr\">If CardiB replies to you, I am dying and heading straight to heaven.<\/p>\u2014 Glenn Kelman (@glennkelman) <a href=\"https:\/\/twitter.com\/glennkelman\/status\/1570826757913317377?ref_src=twsrc%5Etfw\">September 16, 2022<\/a><\/blockquote> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n\n\n\n<p> At press time, Cardi B has not yet replied to the Redfin team.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Entertainer Cardi B took to Twitter to express her concern about the current housing market, specifically high interest rates and rent as well as the current lack of inventory.<\/p>\n","protected":false},"author":15802,"featured_media":4822,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3255],"tags":[],"coauthors":[19],"class_list":["post-3500","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.4 (Yoast SEO v26.8) - 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