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Dave Meier, the VP of Growth and Analytics and host of the On The Market Podcast at Bigger Pockets, talks about insights from the State of Real Estate Investing Report and interesting areas to watch in 2024. Also, Bill Mann and Jason Moser discuss the impact of interest rates on the housing market and surprising stock performances, as well as the potential of Kava to become the next Chipotle. They also touch on the decline of the app Threads and the 2024 outlook for the Fed and real estate strategies.
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Quick takeaways
- The housing market in 2023 saw declining inventory levels and worsening affordability despite stable interest rates, with potential for increased housing volume in 2024.
- House hacking and lending are attractive investment strategies for 2024, while CRISPR Therapeutics and Okta offer potential opportunities for personalized medical treatments and secure access software services, respectively.
Deep dives
Inventory Decline Dictated the Housing Market in 2023
The big story in the housing market in 2023 was the decline in inventory levels, which surprisingly held prices relatively steady despite higher interest rates. However, the housing affordability has worsened, reaching its lowest level since the 1980s. It is unlikely that supply will significantly improve in 2024, as factors like the lock-in effect and low construction rates persist. The housing market is expected to be driven by stable interest rates, and the hope is that housing volume will increase, leading to less focus on the Federal Reserve's actions.
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