Jason Burack of Wall St for Main St interviewed first time guest, real estate expert Melody Wright
Melody now has a premium Sub Stack service available where she covers local real estate markets in depth along with commercial real estate and macro related articles.
Follow Melody Wright on Twitter/X here:
Melody Wright began her mortgage career at GMAC ResCap (RFC) in 2006 and helped manage the historic ResCap bankruptcy. After leaving ResCap and before joining the FInTech revolution, she focused on operational effectiveness at multiple large, nonbank servicers. A 24-year BFSI industry veteran, Melody currently focuses on mortgage FinTech and macroeconomics, working hand-in-hand with clients to design and implement integrative solutions in mortgage origination and servicing that will be successful amidst the ever-evolving economic landscape.
Read Melody's past Housing Wire articles here:
During this 35+ minute interview, Melody talks about how she got into the real estate and mortgage industry at the top of the bubble in 2006 prior to the 2008 financial crisis.
Melody talks about the games, tricks, accounting gimmickry and bailouts (similar to Wall St banks marketing to model fiction) that large publicly traded US home builders are using.
The SPDR S&P Homebuilders ETF (XHB) just hit an all time high despite the Fed raising rates a lot in the last 14 months and mortgage costs are very high.
Melody talks about problems with the MLS data that Wall St banks are using and how inventory levels are much higher in many areas of Florida.
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By: WallStForMainSt Title: Melody Wright: Large US Residential & Commercial Real Estate Problems Coming Post Fed Rate Hikes? Sourced From: www.youtube.com/watch?v=HUFs2zqrUlo
