Market predictions and insane housing shortage!
Today Jason talks about predictions and the perennial 'Bubble' question, cost of monthly housing payments, the Philips curve and the extremely important role the housing market plays in the overall U.S. economy.
He also interviews Michael Simonsen, founder of Altos Research. Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.
To view the articles and charts discussed watch the video on Jason's YouTube Channel HERE.
Key Takeaways:
[1:34] Introduction; make sure to subscribe
[2:26] Predictions on "the bubble" and the monthly COST of housing
[4:00] The Philips Curve and the real inflation rate
[5:25] The greater fool theory and the importance of housing
[6:35] Housing: 17.5 % of the U.S. GDP of 2020
[8:08] Insane housing shortage and recommended markets for rental property
[9:19] The total value of the U.S. housing market
[11:54] Housing shortage of 2.5 million units
[13:18] What they are not telling us
[14:17] Generation X and the yearly income of American Home buyers
Interview with Mike Simonsen:
[16:00] Meet Mike Simonsen
[17:12] "Where's the market going Mike?"
[19:42] Where's the data coming from?
[23:26] Median US home list prices, understanding where the market is
[29:00] What does not include?
[30:35] Total homes for sale US- Single Family
[33:00] Low interest rates to further drive housing shortage
[37:17] Prop 13
Websites:
AltosResearch.com
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