ERShares CEO Joel Shulman predicted that home affordability will continue to be a problem, noting that the affordability rate is the "lowest in history" on "Mornings with Maria" Monday. Shulman also responded to March inflation data from the Bureau of Labor Statistics, particularly consumer and producer price indexes.
JOEL SHULMAN: You're +8% year-over-year in both numbers, a little bit higher for PI. We'll see that on Thursday. If we see good news, if we see inflation peak and so forth, we should expect to see some modest rally. But then we're going to have to monitor the later on wages. People have to focus on wages and, again, the housing prices and the home affordability is going to be the big issue going forward, particularly in Q2, home affordability is among the lowest we've ever seen and this is going to be a continuing problem, and particularly those at the entry points, they're exposed. If they lose jobs, they have very little slack to fall back on. So, we could see things unravel pretty quickly because of home affordability and those most exposed to losing their jobs.
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