Byron Lazine and Tom Toole discuss declining mortgage rates after the SVB collapse, the increase in housing starts, the best way to fight inflation, and accidental landlords.
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Timestamps:
00:00–01:30 Intro
01:30 Falling mortgage rates amid banking turmoil
04:57 Who’s to blame?
08:46 How the housing market reacted
10:08 Why the Fed should leave the interest rate as it is (no hikes or cuts)
12:40 Smart investments for 2023
13:41 Accidental landlords (Fortune article)
16:51 “When you hit 6.5%, the demand picks up.” (KCM chart)
18:45 Data vs drama: What top agents do when the going gets tough
24:34 “At 5%, we’d free up inventory, which is what we need…”
26:27 Some basic skills on how to work with investors.
30:26 Use spreadsheets to calculate investments (ROI for multiple scenarios)
35:20 The biggest opportunity for agents to work with investors
36:51 Housing starts are up
Show Resources:
https://www.housingwire.com/articles/mortgage-rates-declined-amid-banks-failures-whats-next/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=2&cx_experienceId=EXZNOASUT0V6#cxrecs_s
https://www.housingwire.com/articles/housing-starts-rise-as-buyer-demand-rises/?cx_testId=19&cx_testVariant=cx_1&cx_artPos=0&cx_experienceId=EXQEK4SQSVBN#cxrecs_s
https://www.housingwire.com/articles/latest-housing-starts-data-is-good-for-mortgage-rates/
https://fortune.com/2023/03/13/housing-market-homeowners-who-held-onto-low-mortgage-rates-are-becoming-accidental-landlords-renters-real-estate/
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Connect with Byron Lazine: https://www.instagram.com/byronlazine
Connect with Tom Toole: https://www.instagram.com/tomtoole3rd/
Connect with Lisa Chinatti: https://www.instagram.com/lisachinatti/
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Knowledge Brokers Podcast