The Three Things That Can Bring Back Housing Affordability | Knowledge Brokers Podcast 034

Byron Lazine and Tom Toole discuss why housing market affordability is worse now than in the 2006 bubble, the surge of first-time home buyers, where mortgage rates are headed this year, the opportunity that presents for buyers and agents, and a new program by Zillow Home Loans. Join us at BAM Camp on September 20th for an unforgettable all-day event in Naples, Florida! https://brokeagentmedia.lpages.co/bam-camp/ BAMx – Become a better agent: https://bamx.uscreen.io/pages/subscribe Use discount code KNOWLEDGEBROKERS for 10% off your annual subscription! Subscribe to Knowledge Brokers Podcast today: https://www.youtube.com/@knowledgebrokerspodcast?sub_confirmation=1 Join the 5AM Call: https://5amcall.com/ Timestamps: 00:00–01:30 Intro 01:30 Housing affordability is worse now than it was in the 2006 bubble (Fortune) 03:00 Opportunity for buyers: reduced competition due to higher mortgage rates 08:09 Are we going to hit 8%? / Don’t expect home prices to go down. 10:56 Supply is at its highest point for the year 12:50 Powell’s statement at Jackson Hole meeting and the next FOMC meeting 17:05 WSJ article: Slower hiring could take heat off the Fed 18:00 PA bill to implement a 4-hour work week—and a better way to solve the root issue 25:30 It’s less about hours worked than it is about productivity and objectives hit 26:58 Why you need an accountability partner 29:02 Unique opportunity for buyers—and for agents 29:40 A text message to send out—and the results Tom is getting from it 31:34 Inviting buyers to a 10-person Zoom 32:56 Half of those purchasing homes in 2023 are first-time home buyers (BAM) 34:41 Zillow Home Loans is offering a 1% down payment program Show Resources: https://fortune.com/2023/08/22/housing-market-affordability-is-worse-now-than-during-the-housing-bubble-homes-prices/ https://nowbam.com/half-of-those-purchasing-homes-in-2023-are-first-time-home-buyers/ https://www.housingwire.com/articles/where-are-mortgage-rates-headed-2/?cx_testId=3&cx_testVariant=cx_1&cx_artPos=4&cx_experienceId=EXZNOASUT0V6#cxrecs_s ——— BAM delivers real estate news, education, and entertainment with nonstop original content from an unmatchable line-up of industry personalities and top producers. Subscribe to BAM YouTube: https://tinyurl.com/aatxhaka. Subscribe to BAM Newsletter: https://mailchi.mp/nowbam/the-best-newsletter-in-real-estate Check out BAM: https://nowbam.com/ ——— 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/ ——— BAM PARTNERS 𝐕𝐮𝐥𝐜𝐚𝐧𝟕: The most accurate, powerful, and effective real estate seller lead generation resource to build your business. GET STARTED TODAY → https://www.vulcan7.com/bam/ 𝐕𝐢𝐫𝐭𝐮𝐝𝐞𝐬𝐤: Hire a Virtual Assistant Today! Use code BAM200 for $250 OFF the signup fee → https://myvirtudesk.com/contact?promocode=BAM200