Mortgage rates were about the only thing stopping the almost unbelievable home price run-up of 2020 through 2022. With higher mortgage rates, homebuyers were forced to bid on smaller houses or stick to renting while waiting for the good old days of 3% rates to return. But it doesn’t look like we’ll be heading back to sub-4% rates anytime soon, and homebuyers are starting to take the hint. So as mortgage demand begins to rebound, could we be closing in on another boom in the housing market?
We’re back with another correspondents show as we touch on the latest housing market news from around the nation. First, we talk about how tech markets and unaffordable housing have taken a tumble while affordable markets kept afloat even during steep price drops. Next, we challenge a 2008-like crash prediction and explain why institutional investors are suddenly sending in rock-bottom bids in growing housing markets. Then, we hit on the revival of homebuyers, as mortgage applications shoot up and how we could dodge a recession with our slowing but growing economic climate.
We’ll also play a game of “Hot or Not,” where we touch on which real estate investing strategies are worth trying in 2023. From buy and hold real estate to risky flipping, the fall of short-term rentals, and more, our expert guests will tell you EXACTLY which tactics they’re using in 2023 and which ones to avoid at all costs! So stick around for the housing market news you NEED to hear to build wealth in 2023!
In This Episode We Cover
The best (and most risky) real estate investing strategies of 2023
Why “affordable” markets are staying rock-solid even during the housing correction
The new housing market crash prediction and which big cities could get hit the hardest
A boost in homebuyer demand and why the mortgage rate “sticker shock” has finally worn off
The 2023 recession and whether or not it's even possible as the US economy still sees solid growth
Institutional investors are why they’re coming back with lowball offers in growing cities
How deflated prices could lead to “equity pops” for savvy investors willing to invest in struggling markets
And So Much More!
Links from the Show
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On The Market
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James's BiggerPockets Profile
James' Instagram
Jamil's BiggerPockets Profile
Jamil's Instagram
Kathy's BiggerPockets Profle
Kathy's Insatgram
The Bifurcated Housing Market Correction
Goldman Sachs 2008 Crash Prediction
Households Priced Out
JP Morgan 2023 Market Outlook
Mortgage Demand Soars 28%
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-77
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