Million Dollar Listing star Josh Flagg explains how interest rate cut will impact homebuyers... as he warns sellers of HUGE trap: 'That is not going to work'

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Million Dollar Listing star Josh Flagg explains how interest rate cut will impact homebuyers... as he warns sellers of HUGE trap: 'That is not going to work'

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Million Dollar Listing star Josh Flagg has revealed the Federal Reserve's decision to slash interest rates is 'fantastic' news for homebuyers. Flagg, 39, spoke in the wake of the news Wednesday that interest rates were being cut by 50 basis points - the largest amount in 16 years. 'Now it's cheaper to borrow money and what does that translate to, it means people can now afford to buy houses with mortgage rates lower,' he told CNN.
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