Former Bravo star and “Million Dollar Listing” agent Kirsten Jordan, alongside other high-grossing brokers, is grappling with an unprecedentedly pessimistic housing market. Jordan, in a recent interview on “Cavuto: Coast to Coast,” highlighted the severity of the situation, noting that current mortgage rates and housing shortages are creating conditions not seen in recent memory.
“This is something we actually haven’t seen in our lifetime that we can remember,” Jordan remarked, reflecting on the long-term impact of historically low interest rates. She emphasized that rates below 5% for an extended period haven’t been experienced since the 1950s, suggesting a unique challenge for today’s market.
The overarching concern is the overvaluation of homes across the United States, exacerbated by soaring mortgage rates and persistent housing shortages. These factors continue to drive real estate prices to unprecedented levels, posing significant challenges for buyers and sellers alike. As the market adjusts to these new realities, brokers like Jordan are navigating uncharted territory, bracing for potentially prolonged economic impacts on the housing sector.
