We Study Billionaires - The Investor’s Podcast Network TIP516: Navigating A Real Estate Market On The Brink w/ Patrick Carroll
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Jan 20, 2023 In this discussion, Patrick Carroll, the self-made founder and CEO of a multi-billion dollar real estate firm, sheds light on today's eerily similar real estate climate to 2008. He delves into how investors and lenders are adapting, highlighting multifamily properties as the least risky asset. The conversation also touches on why many Gen Z'ers live with their parents and the potential impact of the upcoming $68 trillion wealth transfer from baby boomers on the market. Patrick shares crucial indicators he relies on for navigating this complex landscape.
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Similarities to 2008
- The 2008 downturn stemmed from the single-family home market and mortgages.
- The current market faces similar risks, but with stronger fundamentals like job growth.
Sideways Market Potential
- Low inventory and high interest rates create a unique dynamic in the current real estate market.
- This could lead to a sideways market rather than a boom or bust.
Market Freeze Drivers
- Unlike the 2008 crisis, the current market freeze isn't due to a major bank failure.
- It's primarily driven by rapidly rising interest rates, impacting lender confidence.