Housing Demand Grows as 10 Major Cities See Price Drops
On The Market
How Lower Rates Are Bringing Buyers Back
Dave discusses mortgage rates falling from 7.2% to 6.2% and why that matters for purchase applications and negotiating leverage.
The housing market is seeing a (surprisingly) positive trend. Yes, even with all those YouTube channels showing you “empty” houses, it seems that homebuyers, especially millennials, are getting back into the game. This is excellent news for agents, lenders, title companies, sellers, and flippers. So, what’s the “positive” trend we’re seeing?
We’re back with another headline episode to get you up to date on the housing market in just around half an hour. First, new data points to housing demand increasing as mortgage rates stay away from their 7%+ highs. Is there a path to 5% interest rates in the near future? Yes, but the road to it won’t be pretty. Here’s what would have to happen for us to get there.
Can you guess the top 10 cities with the largest price drops in the US? We’re sharing the complete list in this episode, with some surprising cities near the top. Finally, we’ll discuss the massive layoffs from tech, including Amazon’s recent firing of over 10,000 well-paid employees. If you live in an area where these layoffs are happening, the market could see a noticeable shift.
In This Episode We Cover
Why housing demand is actually going up while economic optimism is going down
A 5% interest rate future? What actually has to happen for us to get there
The top 10 United States cities seeing the most significant price drops
Why James is preparing for layoffs ASAP and tweaking his investing strategy as jobs get cut
Money printing…again? The dangerous door that’s opening for quantitative easing
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Grab Dave’s Book, "Start with Strategy"
Sign Up for the On the Market Newsletter
Find Investor-Friendly Lenders
BiggerPockets Real Estate 1191 - Home Prices Could “Stall” for Years
Articles from Today's Show:
HousingWire: Housing demand now reflects a positive trend
ResiClub: Bank of America: Path to 5% mortgage rates if 'the Fed does MBS quantitative easing'
Yahoo Finance: Layoffs hit Amazon, UPS, Target, and more — what's fueling the cuts
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-371
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