2135: Data-Driven Insights: Unveiling Opportunities in Today's Housing Market with Rick Sharga Part 2

Jason discussed various topics related to the housing market, including current and forecasted mortgage rates, the ongoing inventory shortage, and the state of the multifamily housing market. He also addressed the issue of housing affordability, arguing that it is not a necessary condition for a healthy market, and shared his own experiences in the market. Lastly, he touched on the impact of climate-induced inflation on food prices and overall inflation rates, and endorsed his inflation-induced debt destruction strategy with income properties.

And in part 2 of Jason's interview with Rick Sharga, Rick  delves into the housing market, highlighting mortgage rates near 20-year highs affecting purchase loan applications and pending home sales due to decreased affordability. He anticipates gradual mortgage rate declines attracting more buyers than sellers, likely resulting in increased competition and rising prices. Existing home sales show a 6.5% year-over-year price increase, while new home prices have decreased by 15% from peak levels. Investor purchases remain robust, primarily driven by individual investors rather than institutions. Flipping activity has declined due to pricing challenges, but gross profits are improving, indicating a potential resurgence. 

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Key Takeaways:

Jason's editorial

1:57 Forecast for the average 30-year fixed mortgage rate 

4:29 Housing affordability and Interest rates

8:18  Massive distress

Rick Sharga interview part 2

16:36 Overall economy

17:03 Housing market- mortgage rates still near 20-year highs

19:17 January sales up from December, but down from 2023

20:22 Inventory up 21% from last year  

20:49 New listings up 15% from historically weak 2023 numbers

21:38 The rate lock effect

23:58 Home prices are up YOY in every region of the country

24:55 https://www.baselane.com/jason Link to our Instagram page - https://www.instagram.com/baselanehq/

25:30 New home sales bounce back after declining late in 2023

27:56 New home prices down 15% from peak 

30:15 Corelogic report: Investor share of home purchases continue to grow

31:01 Number of Flips down 30% from 2022

31:50 Even though gross margins appear to be improving

32:07 Reason for pessimism? Apartments vs. single family property

33:34 Delinquencies, foreclosures, distressed borrowers, equity protection

36:35 CRE distress continue to build, commercial foreclosures

37:16 Observations

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