No one in places like Florida or Myrtle Beach or Colorado’s Glenwood Springs wants to wake up to a headline, sensationalist or not, saying, “Vacation homes (about 7 million in the U.S.) are being dumped at a rapid rate as fresh fears of a housing market crash, and a shrinking pool of renters, rattle sellers. “The number of people buying second homes has plunged to its lowest level since records began, and is under a third of what it was during the pandemic boom. A toxic mix of sky-high mortgage rates, soaring maintenance costs, and a widespread return-to-office push is fueling the trend.” Mortgage rates and the economy will certainly be a topic at the upcoming NY conference, as well as today’s Capital Markets Wrap, sponsored by Polly, at 12PM PT where the panelists will analyze the Fed’s recent meeting and its potential impact on market trends. They’ll also discuss the return of focus to economic data amid steadier volatility, changes in tariffs, and how technology is enhancing transparency and efficiency in capital markets. (Today’s podcast can be found here and Sponsored by TRUE and its Mortgage Operations Service (MOS) AI background worker, which transforms borrower documents into instant, trustworthy data for real-time decisioning. TRUE helps lenders accelerate decisions, cut costs, and deliver superior borrower experience, all without a $100M tech budget. Hear an Interview with Servbank’s Luke Jensen on how servicers are leading the way in AI and automation, and revolutionizing customer experience with innovative, loan-level customized correspondence solutions.)
