BiggerPockets Real Estate Podcast 604: BiggerNews May: What the Media Isn't Telling You About a “Housing Crash”
May 3, 2022
Rick Sharga, Executive Vice President of Market Intelligence at ATTOM, shares his wealth of knowledge from over 20 years in the real estate industry. He discusses the current housing market, debunking the myths surrounding a housing crash. Rick highlights the lack of warning signs compared to the 2007 crisis and clarifies how rising interest rates are affecting market dynamics. With a keen eye on data, he offers surprising predictions about future trends, emphasizing the importance of informed decision-making in a shifting landscape.
AI Snips
Chapters
Transcript
Episode notes
Softening Market, Rising Prices
- The housing market shows signs of softening with decreasing sales and pending sales.
- However, strong demand and low inventory still push prices up.
Local Markets and Interest Rates
- Real estate markets vary locally, so national trends don't always apply.
- High-end markets are less sensitive to interest rate changes.
Reckless Lending vs. Today's Market
- During the 2008 crash, a cleaning lady owned eight properties, all in foreclosure, highlighting reckless lending.
- Today's market has stricter lending practices and higher borrower quality.