WSJ's Take On the Week
Will Home Prices Drop in 2024? What Zillow’s Co-Founder Sees Ahead
Jan 14, 2024
Zillow co-founder Spencer Rascoff discusses the potential obstacles and successes for the housing market in 2024. The World Economic Forum in Davos, Switzerland will bring together leaders to shape global agendas, including discussions on the economy and AI's impact. The podcast also explores emerging opportunities in 2024, the advantages of starting a company now, and the current state of the housing market in 2023.
21:05
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Quick takeaways
- The housing market is expected to thaw with sellers starting to list their homes and buyers adjusting to higher mortgage rates.
- The closure of the IPO window and increased interest rates have made fundraising more challenging for startups, but it is also a good time to start a company due to the current malaise in big tech companies, which makes it easier to recruit talent.
Deep dives
Expectations of Thawing Housing Market and IPOs in 2024
Analysts predict a potential thawing in the housing market and the market for initial public offerings (IPOs) in 2024. This is dependent on the stock market's bullish momentum and falling mortgage rates. In the last year, both the housing market and IPOs experienced a slowdown, with IPOs in 2022 raising the lowest amount of money on record. However, the stock market has shown some upward movement, indicating possible uncertainty. Spencer Raskoff, co-founder of Zillow, discusses the current situation in the markets and highlights the importance of platform shifts for new players to emerge in the real estate industry.
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