102: The $1.5T Ticking Time Bomb and Our Return to a “Normal” Housing Market
On The Market
The Price of a Gallon of Gas
In December, just back this past December, it was $4.82 a dozen. Kathy's at $3.82. Henry, I'm booking you down. Joe, do you want to just screw James and say $4.13? Jamil? I'm going to go to $6.00.
Don’t you miss the “normal” housing market? You know, a few years back when buyers didn’t have to bludgeon other bidders just to get into a reasonably priced house? The times when the average American could afford a roof over their head, and sellers actually had a reason to put their homes on the market. Well, we may be returning to a “normal” housing market faster than you think, but a few key things will need to happen first.
We’re back on On the Market, bringing you the most up-to-date housing market headlines, separating fact from fiction, and giving you everything you need to know to make the best investment decisions. This time, we’re running through four of the top stories in our newsfeeds. First, James touches on the $1.5T ticking time bomb that commercial real estate faces and what happens if a wave of debt gets defaulted on.
Next, we’ll shift into more residential territory as Kathy dissects the “divided” housing market and updates us on how post-pandemic boomtowns are faring. Then, a return to normalcy, as Henry hits on how the 2023’s housing market correction could give homebuyers some leverage they deserve. Finally, mortgage rate updates and whether or not the spring season of homebuying will “survive” as buyers see a bump in their rates. Stick around to get all the info you need to build your real estate portfolio, so when ChatGPT takes your job, you’ll have some passive income to rely on!
In This Episode We Cover
Post-inflation car, food, and gas prices and Kathy’s $20 carton of eggs
Commercial real estate debt and what happens if owners start to default
The “divided” housing market and how cities that saw MASSIVE appreciation are faring now
The 2023 real estate correction and good news for buyers as the market starts to stabilize
Mortgage rate bumps and whether or not this will hurt the traditionally hectic spring homebuying season
Using ChatGPT to find real estate deals, write property descriptions, and get more deals done
And So Much More!
Links from the Show
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Articles Mentioned in Today’s Show:
2023 Housing Market Correction
Will Spring’s Market “Survive?
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-102
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