It’s a housing market crash! It’s a housing market bubble! It’s a relatively normal and stable housing market! Two of these statements might make you excited, anxious, or hopeful, while one simply makes you yawn. For years, we’ve heard numerous news outlets, forecasters, and housing authorities tell us that the next housing crash is right around the corner, only for home prices to skyrocket, interest rates to rise, and demand to stay red-hot.
If you want to know if a housing market crash is coming, Rick Sharga, Executive Vice President at ATTOM, a leading provider of nationwide property data, is the person to talk to. His entire job is based on finding and figuring out the data behind housing market movements, which he then presents to field leaders who are trying to make better buying, selling, and lending decisions.
Rick is an industry vet and was around during the mid-2000s housing market crash, the great recession, the foreclosure crisis, and everything that followed. Rick has seen the runup in housing prices over the past two years and has some interesting theories as to where we’re headed next. Whether you think we’re in for smooth sailing or on the cusp of another crash, Rick’s predictions may surprise you.
In This Episode We Cover:
Why competition has recently fallen and whether or not this is permanent for the housing market
The difference between 2022’s housing market and the 2007/2008 housing market
Whether or not raising interest rates has affected hot housing markets
If we’re entering bubble territory and how to tell the real estate market is going south
Which real estate markets are primed for a correction in 2023 (and beyond)
How to get ahead of the foreclosure auctions in a “high equity” housing market
And So Much More!
Links from the show
ATTOM Data Solutions
On The Market Podcast
Redfin
Zillow
Fannie Mae
Wallstreet Journal
Weatlh Track
Federal Housing Administration (FHA)
Blackstone
RealtyTrac
Youtube
Tiktok
Dave Meyer's Instagram @thedatadeli
BiggerPockets Youtube
David Greene's Instagram @davidgreene24
David Greene Real Estate (Youtube)
Rick's LinkedIn
Rick's Twitter @ricksharga
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-603
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