In the latest Installment of the WFG Insights podcast, WFG Chairman and Founder Patrick Stone discusses the current state of the housing market and the issue of affordability. Stone mentions that inflation is starting to come under control and predicts that the Federal Reserve will likely cut interest rates twice this year, leading to lower mortgage rates. He also attributes the decline in pending sales to affordability issues, stating that high home prices and interest rates above 7% are slowing down the market. Stone believes that to achieve a more affordable market, home prices need to stabilize, incomes need to increase, and interest rates need to come down. He also suggests that the government can help by reducing bureaucracy and expediting the process of approving new construction projects. However, he does not believe that government stimulus in the form of dollars is an effective solution. Stone also discusses the impact of urban growth boundaries and the need for infrastructure planning. In terms of financing, he mentions that there is a desire to be more creative in helping people get into homes, but there are concerns about repeating the mistakes of the subprime mortgage crisis. Finally, Stone suggests that balancing the Federal budget is important to prevent interest rate pressure and maintain the US’ status as an attractive place for investment. Overall, Stone predicts that the next 90 days will be relatively static in the housing market, with home price appreciation slowing down and activity remaining bland until mortgage rates decrease to around 6%.