Today Jason discusses various aspects of the housing market and affordability. He highlights the increase in housing prices and the challenges it poses for prospective buyers due to low inventory and affordability. He emphasizes the need for compromise when it comes to finding a suitable home or rental property. He also mentions the resilience of the real estate market and its ability to withstand challenges, such as rising interest rates. He predicts continued growth and demand in the market, driven by factors like millennial homebuyers and increased household formation. The episode concludes with the reminder that investors should adjust their strategies to succeed in any market conditions.
Get your tickets to the CREATING WEALTH Virtual Event this weekend, July 21 and 22 today!
Key Takeaways:
0:00 Get your tickets to the CREATING WEALTH Virtual Event today!
1:02 Article: Housing prices increase as inventory and affordability continue to challenge prospective buyers
3:42 Shout out to our Investment Counselors and highlights from the Black Knight article
9:11 Housing Affordability remains dangerously close to its 37 year low
11:35 Median priced home- It takes 35.7% of median household income to make the principal and interest payment
15:24 The rule of thumb
17:40 Compromise, compromise, compromise
18:47 Chart: Home prices grew 3% YOY in the second quarter
19:11 More to come this weekend at the Creating Wealth Virtual Event
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