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- I'm so happy that we're so sad... I think 🤔
I'm so happy that we're so sad... I think 🤔
And the confusion is just beginning
John Birke
July 22, 2024
July 22nd, 2024
It feels like… being happy about being so sad
So more bad news, but that’s not necessarily a bad thing
Listing prices are taking a dive.
Not to mention builders are getting nervous.
Even foreigners are calling it quits.
But Jerome says the the wait is almost over.
Wall Street believes him, and it’s here for it,
But it might be too late…
Plus, if you’re sick of reading all the FB comments then you’ll love this!
Really quick, if someone forwarded this email to you, don’t settle for being at mooch. Sign up and get it for yourself here 👇
Ok, let’s get to it!
The Mortgage Part
🤕 Listings are starting to hurt: Some markets (especially out West) are starting to see price reductions as inventory sits for longer.
👷♂️ Builders are feeling the squeeze too: Construction starts continue to slow as builders step back to see what happens next
🏃♀️ And the rest of the world is high-tailing it: Oversees investors have taken several seats to watch things play out in the States
😎 Jerome is almost ready: The Fed Chair won't push inflation to its final resting place before easing up
👏 And the Market is here for it: Wall Street is convinced that the first rate cut is coming in T-minus 2 months
😭 But is it too late?: Nearly half of the country is showing signs of economic struggle according to the almighty Beige Book
% Mortgage Rates: With all the ups and downs, they were mostly flat with a little tick up at the end of the week
🔍 Coming this week: Home sales, GDP, and a particularly important PCE inflation report
The Media Part
Can’t we just skip to the good part?
If you’re a bit of a slow reader, like myself, then you know the struggle of reading though hundreds of comments on a viral post to get a feel for how people, you know… feel.
Well Mets sees us and has introduced Meta AI summaries in Facebook post comment streams. They make an overview of the general consensus of comments on a post. These summaries appear at the top of some comment sections and aim to give users a quick insight into the discussion without needing to read through all the comments. YouTube is testing a similar feature, offering AI comment summaries that categorize discussions into topics, and X has Grok summaries for trending news stories. Users can provide feedback on the accuracy of these summaries to make them better, which is a nice touch.
But there is some skepticism about the necessity and impact of these AI summaries. They might make people spend less time on a post and keep them from adding their own comments. This could detract from the social nature of the platforms, which are designed for direct interaction. Fortunately, you have the option to turn off Meta’s AI comment summaries in the app if you want.
But I actually think they could be helpful in our research. Say you find a viral video where the creator is talking about a particular topic that you disagree with. Obviously, you should make your own content giving your opinion of the matter.
And it’s important to read the comments section to see how others feel so you can make a more engaging piece of content, right? Well instead of scrolling through hundreds of comments, you could read the top few along with the AI summary to get an idea of how the majority swings. It shouldn’t replace all your comment research, but it could help speed things up! What do you think?
Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. This week, pay close attention to the PCE numbers coming out on Friday. Higher inflation means waiting longer for rate drops. Lower means, obviously, drops could happen soon!
And as always, I’m happy to help you and your clients with anything mortgage, marketing, or social media. See you next week and
Thanks for reading!
John Birke | Mortgage Advisor | Content Coach
NMNLS 1150795
Movement Mortgage
9726 Old Bailes Road, Suites 121 & 130, Fort Mill, South Carolina 29707
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