Page 9 - Wealth Effect News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Closing the income gap for minorities in the financial planning industry is a top priority for Mark Delp at Impact Wealth Management.

Are we leaping too far? >> well, look, that's huge. mortgage rates went from nothing up to 7%. as i said, the ten year, which is tied to mortgages had dropped. that will definitely provide some tail wind also. also, the good news is oil prices have come down a lot. that said, i just think there's a lot more going on. we've lost trillions in the reverse wealth effect. the economy was living off of the reverse wealth effect for a long time. we have the opposite on many fronts. there's a lot bigger things going on. that helps no doubt, lower rates help. oil prices to the down side helps. again, y...

Dream, isn't it? but you know? it is the australian dream, isn't it?— you know? it is the australian dream, isn't it? but prices are fallina. dream, isn't it? but prices are falling- sydney. _ dream, isn't it? but prices are falling. sydney, australia's- falling. sydney, australia's most expensive city is having some of the sharpest designs. —— clients. the reserve bank wants to bring high inflation back under control, but rising interest rates have stung the housing markets. we interest rates have stung the housing markets.— interest rates have stung the housing markets. we saw the ea...

Kaltbaum, who has a lot riding on that. gary, what do you think? should we worry now that after all these hikes, it's not doing the trick? >> very much so. not only is the wealth effect in reverse, everything we worried about on how sticky inflation can be when it really hits -- and i'm not talking about just going up, but really hits -- how it sticks doesn't go away, worsens over time. we're seeing it in droves. and it's like the movie "the gremlins." one goes away, two pop up. you see the price of lumber come down, then you see oil prices go up or natural gas or heating oil or cotton. and no...

Closing high yesterday, neil, and the combination of unaffordability with mortgage rates going up is now hitting the other little park, and that is the housing market. another part of the reverse wealth effect. every night i go on zillow, realtor.com, i go in about 15 city, and very simply, what i am seeing are a lot of arrows down now. that is people not wanting to, but having to lower prices. every night i'm seeing more houses come on to inventory. every night i'm seeing pending sales going by the wayside. so, unfortunately, i think that's another part of the vicious cycle. i'm sorry to say ...