61 min listen
145: 60% of Homes Classified as “Unaffordable,” How Long Can This Last? w/Matthew Gardner
FromOn The Market
145: 60% of Homes Classified as “Unaffordable,” How Long Can This Last? w/Matthew Gardner
FromOn The Market
ratings:
Length:
40 minutes
Released:
Oct 2, 2023
Format:
Podcast episode
Description
The housing market is now aggressively out of reach for first-time home buyers. Nearly sixty percent of homes for sale are unaffordable to the average American. What’s causing such a lack of affordability? High mortgage rates, meager supply, and baby boomers refusing to sell their single-family homes (seriously). These factors have created a housing market where “forced renter households” will become the norm…but not for long.
According to Matthew Gardner, Chief Economist at Windermere Real Estate, there’s at least some hope on the horizon. Mathew knows the solution to this almost unfathomable unaffordability issue, and it’s much simpler than most people think. In this episode, he talks about the primary driver of high home prices, the factors causing so many Americans to rent, and why we can’t repair this market using the same housing market “incentives” that worked in the past.
And, as someone who works regularly with large-scale investors, Mathew has some advice for those still trying to invest in a market where profits seem improbable. When will mortgage rates head down? How long will unaffordability last? And what’s the solution Matthew thinks will solve it all? We’ll get into all that in this episode!
In This Episode We Cover:
The SINGLE factor that’s causing so much unaffordability in the housing market
Home price updates and a surprising statistic about homes for sale
Mortgage rate predictions and whether or not we’ll see them fall next year
“Forced renter household” formation and whether America will become a renter nation
Crucial advice for ANYONE who’s buying real estate in 2023 (and if you should wait)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
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Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
Housing is Unaffordable, But Could It Actually Get Worse?
Connect with Matthew
Matthew's Facebook
Matthew's Instagram
Matthew's LinkedIn
Matthew's Twitter/X
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-145
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
According to Matthew Gardner, Chief Economist at Windermere Real Estate, there’s at least some hope on the horizon. Mathew knows the solution to this almost unfathomable unaffordability issue, and it’s much simpler than most people think. In this episode, he talks about the primary driver of high home prices, the factors causing so many Americans to rent, and why we can’t repair this market using the same housing market “incentives” that worked in the past.
And, as someone who works regularly with large-scale investors, Mathew has some advice for those still trying to invest in a market where profits seem improbable. When will mortgage rates head down? How long will unaffordability last? And what’s the solution Matthew thinks will solve it all? We’ll get into all that in this episode!
In This Episode We Cover:
The SINGLE factor that’s causing so much unaffordability in the housing market
Home price updates and a surprising statistic about homes for sale
Mortgage rate predictions and whether or not we’ll see them fall next year
“Forced renter household” formation and whether America will become a renter nation
Crucial advice for ANYONE who’s buying real estate in 2023 (and if you should wait)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
Housing is Unaffordable, But Could It Actually Get Worse?
Connect with Matthew
Matthew's Facebook
Matthew's Instagram
Matthew's LinkedIn
Matthew's Twitter/X
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-145
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Oct 2, 2023
Format:
Podcast episode
Titles in the series (100)
4: The Fed’s Plan for Future Interest Rates w/The Wall Street Journal's Nick Timiraos: The Fed and interest rates—what one does, the other follows. Over the past two years, we’ve seen interest rates crash to all-time lows, only to skyrocket back up to decade-long highs at the start of this month. This turbulence has swept the legs of many prospective homebuyers and has caused the housing market to go from red-hot to lukewarm in only a matter of weeks. What’s causing these rapid fluctuations and are rising interest rates the new norm?There’s arguably no one better to ask this question than Nick Timiraos, reporter and economic correspondent at The Wall Street Journal. Nick keeps a tight pulse check on The Federal Reserve at all times. In his newest book, Trillion Dollar Triage, he discusses why The Federal Reserve made the shocking moves they did in 2020, and how their decisions affect every American today.Dave Meyer and James Dainard use today’s interview with Nick as a chance to ask th by On The Market