This compilation of financial-related insights includes videos from Reventure Consulting, Mike Maloney, John Williams, and David Lin.
Reventure Consulting says incomes are dropping and homeowners are being forced to sell. Karl Krueger joins Mike Maloney to dissect the extreme real estate bubble and discusses buying vs. renting. John Williams says the housing market flipped and home builders are in panic mode. Briton Hill joins David Lin to discuss why housing will get even more unaffordable.
Sep 18, 2023
Homeowners in America have run out of money in 2023, which could spark a wave of panic selling that will cause inventory to surge.
New data from the US Census Bureau shows Median Incomes are declining, while the personal savings rate is at all-time lows, and a record share of people now can’t afford homeowners insurance. When the housing bubble pops, this built-up distress could a huge wave of for-sale inventory hit the market that will cause cascading declines in home prices.
Especially among owners of vacant houses. In this neighborhood in Upstate New York, nearly 11% of the houses are seasonally vacant and owned by absentee owners. Meanwhile, less than 1% of the houses are currently listed for sale. What happens to the real estate market in New York when a handful of these vacant owners are forced to sell for financial reasons? Inventory could explode.
Just like it has in Austin, TX. This is a Housing Market that is crashing right now, with prices down 15% from peak and rents also on the decline. Inventory in Austin is currently at 1.7% of all houses in the metro, which is nearly 3x higher than it was two years ago. This surge in inventory has caused prices to crash.
What’s complicating factors here is the US Economy. With interest rates high, job openings declining, and wages stagnating, Americans are now struggling more than ever. And once we inevitably see the unemployment rate surge, there will likely be a corresponding increase in mortgage defaults and foreclosures.
GoldSilver (w/ Mike Maloney)
Premiered Sep 19, 2023
In this eye-opening discussion, Mike Maloney and Karl Krueger dissect the shocking state of the Real Estate market and the jaw-dropping data behind it.
Join them as they journey through time, exploring pivotal moments like the 1980s mortgage rate surge and the 2008 housing crisis. Discover how COVID stimulus programs and inflation have combined to create a housing market like no other, with the mortgage/rent ratio at an extreme.
Is this the new normal, or are we headed for a reckoning?
Sep 19, 2023
Housing Market Flipped | Home Builders in PANIC Mode
Sep 19, 2023
Briton Hill, Managing Partner of Providence Capital Group, explains why real estate has been climbing higher and why it can get even more unaffordable for buyers and renters.
*This video was recorded on September 19, 2023
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