On The Market 108: How the Pandemic Polarized America’s Property Market w/Lance Lambert
The real estate market was supposed to crash, but it didn’t. Interest rates were supposed to cause a significant slowdown, but they didn’t. Hot markets were supposed to give buyers a break as activity plummeted, but...well, you get the point. The 2023 housing market could be summed up in one word: weird. With the Federal Reserve fighting against the market, sellers refusing to move, and buyers still dealing with record-low inventory, many of us question whether or not we’re stuck in a real estate-inspired groundhog day, where 2021-2022 repeats until infinity.
While this (probably) isn’t happening, the real estate market is showing signs of restarting after a mortgage-rate-caused flash correction. Lance Lambert knows about this all too well. He’s been reporting on the housing market for years and knows exactly why America’s property market has become so polarized, even with such immense downward pressure. With cities like Austin still in the slumps and markets like Miami hitting housing price peaks, where is a safe place to invest?
If you want to get a macro sense of where we are in the economy, how the housing market works, and why the Fed is having such a hard time, this is the episode for you. Lance brings us back to 2020 and explains how the pandemic fueled “gigantic” demand that was never met, why a housing crash didn’t happen, and whether or not mortgage rates could go even higher.
In This Episode We Cover
The “polarized” housing market and which areas are staying red hot while others freeze
The post-pandemic property market effects and how the housing market hurt inflation efforts from the Fed
Mortgage rate predictions and what could cause rates to rise or fall this year
East vs. West Coast and why cities like Seattle, San Francisco, and Los Angeles cooled off so quickly
Affordability updates and why builders have the upper hand on the Fed
The “Two C’s” that are controlling home prices and the housing market in 2023
And So Much More!
Links from the Show
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Hear Our Interview with Fortune’s Lance Lambert on the “Polarized” Housing Market
The Top 10 Housing Markets Forecasted For Strong Demand This Decade
Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-108
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