In today's episode, we dive into the recent crash in new home sales and its implications for the housing market. We explore why new home sales dropped by 11.3% and the underlying factors contributing to this decline. Additionally, we discuss the potential impact of rising interest rates on the market and what the future might hold for both large and small builders. This episode provides a comprehensive analysis of current market trends, valuable insights for investors, and the importance of staying informed and connected within the real estate community.

[00:00] Introduction to the episode and the significance of the 11.3% drop in new home sales.

[00:34] Discussion on the slight decrease in new home prices by 0.9% and the factors influencing this.

[01:22] Analysis of the significant miss in new home sales estimates and the role of interest rates.

[02:21] Reflection on the prediction made a year ago about the impact of higher interest rates on small builders.

[03:10] Examination of the consequences of reduced new home construction on the housing supply and prices.

[04:04] The importance of building smaller, more affordable homes to address housing shortages.

[04:36] Summary of the winners (big builders) and losers (small builders) in the current market.

[05:22] Exciting updates about the school community and special guest appearances.

[06:13] Overview of KKR's significant investment in real estate and what it signals for the market.

[07:04] Discussion on recent earnings reports, mortgage applications, and market trends.

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