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18 to 29 year olds living with their parent/s! What does that mean? There is still demand for rental housing! But this demand will decline in about 20 years. That's a word of caution from Jason. But for now, you are going to make a fortune with your income properties!
Here is part 2 of Jason's chat with Rick Sharga of ATTOM DATA. Know the facts and data that will serve as an indicator of trends in the single-family housing investment space across different markets. Note: This interview was done last December 2022.
Key Takeaways:
Jason's editorial
1:59 Shadow inventory, shadow demand, 18 to 29 year olds living with their parent/s
5:37 What this means as investors
7:35 A word of caution: there will be a decline in housing demand- in about 20 years
9:40 Get your tickets to the EMPOWERED INVESTOR LIVE summit today!
10:28 Join Jason on a cruise on March 4 to 9! Mix a little business with pleasure! Go to EmpoweredInvestor.com/cruise now!
Rick Sharga interview part 2
12:09 Chart: Mortgage rates still near 20 year high
12:52 Chart: October marks 13 consecutive months of lower existing home sales
13:30 Chart: New Home sales down 14% from 2022
14:36 Chart: Builder sentiment, housing starts declining rapidly
16:39 Chart: Very low new supply (Altos Research)
17:10 Chart: Inventory outlook for 2023
17:29 Chart: Price reductions have peaked (Altos Research)
19:57 Chart: Pendings dramatically lower
20:23 Chart: Purchase loan apps off 41%
24:19 Chart: Prices in western markets are declining
25:49 Chart: Further declines are expected in many - not all - markets (Zillow)
29:31 Chart: But homeowners still have record equity
30:16 Chart: Delinquencies below pre-pandemic levels
35:26 Chart: Foreclosures starts approaching pre-pandemic levels
37:44 Chart: But REO activity still well below normal
Quotables:
"93% of the people in foreclosure have positive equity." - Jason Hartman
"Our data shows that about 6% of homeowners nationally are underwater on their loans. There's half a percent of homeowners who are in foreclosure." Rick Sharga
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