Hail anyone? Check your roofs. It’s like h a i ll hail anyone. So it rained last night and it held. And there’s the storms. Some people said there was, like, tornadoes. I don’t know what to even listen to. Maybe there’s a hurricane. I don’t even know. People in Dallas think when it rains, like, it was just like the worst thing ever. I heard people are in bunkers. You know, the National Guard was called out.

I don’t even know what’s happening with people. But when it when it rains or snows like a quarter of an inch, everyone just loses their mind. We’re out of groceries like we need to stock up for a month, like order a year’s worth of toilet paper because it’s going down. Actually, everything’s kind of fine, but from a housing perspective, we do have to take a look.

So last night it did Hail and Stacey informed me of exactly the path that this storm took through here. So you do need to take note of that, because if you had a home that is currently listed or is about to be listed or a home that you’re representing the buyer and you have something under contract. There was a storm that came through and with the storm it brought hail.

And if there is going to be a loan on this, the lender wants to insure that the home is in a lender condition and the roof is fine. So this can be a huge backlog of everybody checking their roofs now. Right. And having them inspect to say they’re good or they’re not good because it’s storm season. Now, with that, it’s probably going to delay a lot of things.

So please know if you have anything at all under contract or listed, you probably need to just go ahead and get it scheduled and get your roof inspected to verify what’s going on. If you have any questions of where the storm went, you can go to our our storm chaser, Stacy Hendren, and she can let you know exactly where the storms went through. Or you can call Coweta Worth.

You would love to hear from you. He’s currently playing Xbox and he is available to to help you out if you need any assistance to know more about that. He does know about the storms. He does have good vendors to be able to help you out and get you get your roof inspected and repaired. So give him a call regardless if he’s your insurance agent or not.

But he should be your first call when you think of anything insurance related and that helps you out. If you have a listing now from the other side, let’s just change our mind just a little bit and think through this.

If you have a buyer and you’re having a difficult time finding a home right now and you see that the storm came through one of these areas, it is possible that the person who put a contract in on that home is now nervous for some reason because like I said, when a storm comes through, people just totally lose their mind.

It’s crazy. So if somebody loses their mind that’s currently in first position on a property and has it under contract, isn’t it great to be in backup position? Isn’t it really nice to like slide right in there now because there’s a crack, there’s an opening. That’s something you should consider, right? Did this hail storm give you an opportunity with some of your buyers to sneak in on properties that somebody else becomes nervous about? Did you recently submit an offer on a property?

And the person was like, No, it went to somebody else. But your clients really liked it this morning. Like, right now might be the time to call. So you can just jump off of this and call the person immediately and say, Hey, did you have a problem? Is there maybe an issue? Could we jump in? Could we be here? Go ahead and do something like that. Right.

Take a stab at it. See if maybe your clients want to go after this. Any phone call that you can make right now, as soon as we’re done today, is going to be a good phone call. Your client can be super happy that you were thinking about them and letting them know that you could maybe take advantage of this. You’re looking for any advantage.

You can have any way tha

Hey. Have you been asleep under a rock for a while? Well, if so, you don’t realize that prices have went up on real estate. But I’m going to catch you up regardless.

So if you have been paying attention, you know that prices are up, but like you don’t maybe know exactly how much. So we’re going to take a quick spin through and look at our website and look at some prices on a per square foot basis.

So, Omkar, let’s go ahead and share the screen. I have some stuff prepared for us and I’m going to go ahead and take control of the mouse and move around. And I’m just going to look at homes in Frisco. And what I want to just look at are prices of how much these homes are on a per square foot basis. And so right in here is the price per square foot of $206 a square foot for this home.

This one is 600 and $653 a square foot. So now this is an outlier and it’s a larger home and there’s some things going on here. But that’s an intense number, right? It’s a four and one half million dollar home, $218. 206 to 20 9 to 90 7 to 55 to oh seven. I don’t see anything in here under. Right. This is crazy. Right. 224 This person put the wrong number in.

They said the house is 15,000 square foot. That’s actually how big their land is. So that’s some bad data point there. That person put in 182 cheapest house you can find on a per square foot basis. Let’s take a look and see what we’re getting for this bad boy here.

Right. So when you take a look at this house and you pull up and you look at this, how much do you think this really is? Right when you’re looking at it, if you put goggles on from the past, you kind of like, see this? You’re like, yeah, that’s a nice looking house, right? And you see it.

It’s built in 2010. It’s 3800 square feet. And you kind of like, I don’t know, 450. And then you’re like, no, wrong. 695,000. It’s like, whoa, that’s crazy. Your mind just misses things. And all of a sudden it’s been like an increase in increase and increase and things keep going up. So I just wanted you guys to see that it is crazy what the price per square foot is of homes nowadays.

And I got used to seeing things like $75 a square foot, $85 a square foot for new construction. Now it’s like $300 a square foot for standard homes. I don’t know what to say, guys. Prices are crazy compared to what they were. And I just wanted you to have a little bit of interaction with the website, see what’s going on with prices, and just recalibrate your minds on what pricing really is on a per square foot basis.

When every single thing you see is starting with a two, it’s like 200, 200 and 202 092 41 230 again that house four 181 eight Wow, that’s a real deal. We’re going to have to jump on those. Send your clients now. Anything you can find under $200,000 or $200 a square foot is crazy. You know, you look at some of these homes and I just don’t realize you look at this house, right? I don’t know.

It’s 2600 square feet and you’re like, I don’t know, it’s got a front garage and you just give like your initial number on it. It was built in 2004. Looking at that picture, I really think this house for 2600 square foot is like, I don’t know, maybe 225,000 is like what I kind of see myself and it’s not like it’s got some amazing stuff in it, right? You know, like, no, 500,000.

Ladies and gentlemen, this is a crazy world. I just want you to look at some prices real quick. We’ll come back over here and just give us a talk that prices are up for sure. And I don’t think they’re coming back down. Right. And we are here right now and we just need to stay here at this super high price point.

So if you have people that are wondering what’s going on, prices continue to go up. Supplies are in short demand and short supply. And there’s a huge demand. Tons of people are still in apartments because they still can’t even get into houses yet. So the demand is going to just continue is as long as we get to keep interest rates at something semi reasonable, we should be amazing.

Multiple offers and home appraisals. Just because you have multiple offers doesn’t mean that the home is going to appraise. No, but it doesn’t mean that it’s not going to. If it goes way above. Right. So it was weird this morning. We were talking about how some homes didn’t appraise that we’ve seen recently and others that were 300 and some thousand above. And I asked, how is that going to appraise?

And you’re like, Oh yeah, totally. And it’s really weird that how we’re starting to look at things, right? So let’s kind of break this down and I’ll give you my own opinion first. And then I think that’s a.

Kind of two parts to this topic.

So let’s look at first. If there’s ten offers, 20 offers, 30 offers on a property and people are willing to put that much money in and they were willing to go above. And the price that one or the highest one or the one that was selected was not materially much higher than the others. In that scenario, I don’t see a reason why the home is not 100% worth whatever number is paid for it because everybody was willing to pay it.

Correct? Right. Like the market just showed. Not one person but two, but three. But for about five we’re willing to pay for it within hours.

Yeah, but I don’t think so. Therefore it’s worth it to appraisal standards. That’s one of the items that.

Well, they need to change. They need to change their standard. They need to change your standards.

But that should also I mean, what one 100% pay is definitely what the home is worth. Right. But the appraiser is working on behalf of their client, who is a lender in most cases.

All right. So let’s let’s think about this. Right. So because the appraisal, there are three different standards that they can appraise it by, right? And I think they need to add a fourth one and just put some more details in. So the first is they can choose the cost approach, right?

Like it’s a replacement cost approach and I don’t know why. Just decide to name these off the top of my head, but I did the market value approach.

Sales approach and the income approach. Right. And I just nail those. I think I kind of did just remember them from a long.

Time ago, an investment property then so then they pick which one is the most appropriate right. But I think that they totally need to have a section I haven’t seen if it’s been put in there, but I think the standard appraisal needs to be modified to include how many other offers were on this property and what type of time frame, what type of volume just to show the overall demand that was going in.

Yes. Well, here’s the thing, guys. How would it. Not? The appraiser does not have access to that information. They don’t know they’re not provided that information.

I don’t know. I think most experienced agents would provide that information so they can understand the demand of the property. But, you know, they only have certain amount of information. They access it from MLS and they don’t have that information. You know, they don’t know also if a home next door was sold in a distress situation.

So, you know, that’s why it’s extremely important to do your appraisal packets. But I see what you’re saying. Their standard should include what is the market. But they do have a section in their report that says what is the activity like? And they’re, you know, they’re supposed to to put that in there. But if they don’t ask and they don’t know, then they don’t have it right.

Well, Miss Shana Acquisto. Yeah, I do suggest that there are some additional information that should be added to Miss then. So when was the last time that we made a major change to it? So let’s think about this.

If we show how much income or commission that’s offered.

Now, if there’s if there’s been strong demand for property. Sure. Why is that not documented within Mlss for records? It might not be shared publicly.

Because I think it shows in the cost above list. That’s really the indicator of if it goes 112% above the list price and you’re

What happens when there’s no real estate inventory that Shana Acquisto, she’s a luxury real estate broker. We’re going to discuss this. The prices go up. Do people start remodeling? What happens are they’re less new builds because all the contractors are remodeling homes now. Oh, man. Pent up demand prices. Through the roof.

And even slower on new construction. Those are all things that are extremely probable when there is no real estate inventory.

And we have an article combined with interest rates. We heard that this morning. You know, that interest rates are or was it 4.7? We heard this morning.

I heard someone it probably wasn’t that. But before that had a 4.7. That’s pretty that’s higher than we’ve seen in a long time.

Yes, it is. So your article, article, article. According to Inman, it’s a real estate authority.

And this is what they have to say. Inventory usually, usually underlined rebounds in the spring. Not this time. Oh. Oh. So we’re going to go ahead and take a look. And what we have the inventory walk to the annual trend dropping month over month in February, despite initially borrowing, despite typically bottoming out each December before rebounding in the spring. So we’re in trouble. So it comes down to.

What do we do? What do we do during this time that there’s no inventory? Well, we have to get creative. You have to think of yourself as a real estate consultant and you have to get creative. The way of doing business before, I think is changing.

You’re not just set up a search. Hey. Yeah? You want to go see this property? Yes. It’s going to be much more than that. We’re going to have to get creative. You’re going to have to network. You’re going to have to find properties and create opportunities.

I want to be given.

Specifically about the underlying factors that I also see happening here when there’s low inventory. So the issues that I do see with low inventory is that obviously prices are going to go up because now all of a sudden we have, if there’s not it, scarcity situation, right? There’s still demand and there’s been pent up demand from last year because people couldn’t get it last year said out wait.

So now we have like years worth of people who are demanding right standing there wanting homes and they can’t get them, plus new people moving to the area, plus people in the area who just want to move because whatever those are. So prices will go up.

And I think what’s going to happen is all of a sudden there’s going to be more people that want to remodel their current home because they’re going to say, well, I can’t move, so I want to stay, right? So now all of a sudden people have to stay where they’re at and they start remodeling. Now imagine if all those contractors would have been on new builds.

Well, if they don’t have anything to build right now.

But it’s more of an issue of the contractors, too, because now when people are willing to pay the contractor more to stay in their home but to remodel it, then all of a sudden now those employees or contractors aren’t ready and aren’t available for the new build. Right? So now we have a slowdown in new builds because people are paying the contractors to fix up their current homes.

Right. And you’ve seen personally how hard it is to get contractors out there for remodels, but now people are going to willing to pay so pent up demand all over the place. And this article has a ton a ton of information about what’s going on here and percentages and what’s going what’s happening. And so by the end of February 23, so a year from now, the typical home is expected to be worth almost 400,000.

Yeah. What was it before?

No, I don’t know. I think it was 365 is my guess.

So Hannah asked a question, what would happen for that inventory to start going up? Well, that’s what they’re doing now. Their one thing is raising the interest rates. Right. So it’s going to it’s going to start to balance out all of this craziness that’s going on. People are going to b

Zoho Calendar update. Who gets excited when there’s a new Zoho release and they update a product? All right, fine. I’m guilty. We’re going to talk about the updates that came to Zoho Calendar. We have a link. We’re going to chat that in.

We’re going to tell you how to use it. What are the resources possible uses that you can have and how you can share your calendar with some other people? So let’s go ahead and give that link and switch over here. Omkar is going to be nice enough to highlight some of these issues and throw it up on the screen and we can walk through this.

So here is the article. This one came out a little while ago. I’ve been holding this in the back pocket for a little while, waiting for just the right moment to make sure that we get this information out. So this came out in January, the end of January. So this is a couple of months dated now and these new releases are going to be available right now. They’re available now.

So updating your calendar. Yes, you should totally do it. You get a clean, clutter free interface. And who doesn’t like that? Right. Everybody is always clamoring for a clutter free interface. So that’s one of the things you get here. You can change the layout and look at it in different ways. So that’s going to be new and modern and bold and all of those things.

You have night mode, right? So check that out. Give it a look. You can work with teams across the world. So if you have people in other time zones, I know I have problems scheduling things from time to time when our calendar changes and there’s doesn’t necessarily change.

And I think for some reason that we are the center of the universe. And I quickly realized that like the time zone change here doesn’t translate and it doesn’t like auto ding to somebody else across the world to know that, you know, daylight savings time hit. Right? So those are real issues.

But here we have a different time zone. So you can have a different time zone in there and have that all noted for you. So that makes it easier. You can search smarter and faster. So did you know that there is a search feature in the corner of that so you can look through it to find different items, many, many different ways that you can search. You can search for details like event, location, organizer name, and you can find these things a little bit quicker.

So if you just remember, I don’t know, I can’t remember when, but Mike sent me something or whomever it is that sent that out, you’ll be able to search on those items. So if you just remember one piece, this should all kind of tie it together so you can find it shortages in double booking. So that has to do with resource bookings. So a resource would be something like a conference room maybe or Zoom meeting with Mike Dotcom, if that’s the case, if there’s only one of those, but we’re using it, maybe Logan for scheduling a media day.

So there are certain resources that are things. So what this is insinuating here is some type of conference room, some type of shared space that multiple people are trying to use and or book such as Logan. Then that’s a way to go ahead and do that. So if there are some enhancements there that make it a little bit better, maybe if Megan sees it better that she uses a resource like that and they can see Logan’s schedule or Media Day schedule, and that helps out. That would be good.

So there’s many different features that all come into play here, and whenever there’s an update, there’s different things that we can use to go ahead and take advantage of the changes in the technology updates. So spend a couple of minutes look at Zoho Calendar as it relates to you as an agent, see how you can take advantage of this. See if there’s a programming change that you can have to put in there to make your day just a little bit easier, right?

So there’s obviously notification bells on when things happen, how you get notified, what your standard thing is. All of this can be made a little bit easier

What happens when an HVAC shortage hits Texas and the summer heat? We’re having problems, guys.

We don’t have enough HVAC components. There’s a real, real shortage, and that’s creating a real issue. So what we’re going to talk about is the fact that already before the summer even came, we have three week delays for much of the HVAC equipment, three weeks.

And that’s now when people aren’t even using the HVAC. What’s going to happen as we get later into the summer and all of a sudden things start happening? How long is it going to take to get a full system, all the different components, and what should you be doing to tell your clients?

So let’s kind of dive into this one about how you can be proactive and what what’s going to happen here. So we were talking through this with the owner of Frisco Air and he was telling me they are already four, four and five ton units. There’s a three week backlog before you can get it.

And that doesn’t mean that you can get the full system in that amount of time. It just means that you can get I think it was a condenser that you can get. And if you can’t get that component, then the system simply doesn’t work. And so there’s a lot of things that go into this and imagine once it gets a little bit busier and people really realize and the word gets out that like, there’s a shortage on this.

He’s had a lot of clients start to call him and be proactive and change out units before they need to be changed out.

Because they’re saying to themselves that, hey, I have a probability that I’m going to have a problem this summer. And my odds are, you know, 35% that I’m going to have a problem this summer and 60% next year and, you know, 85% a year after. Am I better to go ahead and proactively replace my unit now when I can get it and schedule it?

And if it’s going to be three weeks or a month or two months to get the equipment, if I’m on the list now and I go ahead and do it, then it’s actually taken care of. I might be doing it before the unit dies completely, but all the components, if there are available on two months, at least it’s completed now play through that.

If you wait those two months and you don’t do it and all of a sudden you’re in July and your unit goes out and other people’s units went out for them in May and April and June, and all of a sudden that happens. How long is it going to be for before you can get it?

How do you survive without added a unit? What if you only have two units in your house? What if the main one goes out? How do you do that? Right. What’s going to happen in real estate when all of a sudden somebody turns around and says it’s going to be six months for each vac for you? Right.

What do you do? It’s just hot. How can you do that? So there’s real challenges. So do people start turning to used units? Are they putting in used units that work to, like, limp through because they have to? How much you be willing to pay would you take if you wanted a whatever sear? Would you take this one? So the units that they’re going to be producing similar to cars, are going to be only the highest end units that make them the most amount of money.

If you have limited if you have a limited capacity in which you can put out, then which ones you’re going to make? The cheapest ones, the most expensive ones. Right. So now all of a sudden you’re only going to be able to buy like the highest and newest, the latest and greatest, the most expensive. So how does that compare with what you would maybe typically do? Right.

And if you don’t have a choice and there’s nothing available, are you going to take this unit? So are you better off to go ahead and order and get it done? These are real questions. So if you know anyone that has an older unit, probably a great conversation to have with them from a real estate perspective. And are these units going to be so expensive when that time comes?

Because if all of a sudden you can only get so many units and the the installers can only install s

Tips to getting offers accepted by Shana. There’s many of them. People want to get them accepted, but we’re not sure exactly how. So we got a bunch of them. And did you know the first most important one is that you can ask to be present when the offer is presented.

We’re going to show all that stuff. We’re going to talk about deadlines, option fees, letters without violating fair housing. Yeah. And just kind of discuss it all.

But let’s talk about this because I don’t know that we’ve we’ve talked about this a couple of times. And, you know, Jean and I were talking over the weekend because she’s been working so hard with this one buyer to get an offer accepted and missing it by just slightly every time.

And she’s like, okay, this is it. I’ve got to get this one accepted. So we talked about some things, but here is something that I think could be interesting, right? So you the last NAR meeting of last year, they did vote in that you could be present, that the buyer’s agent can be present when the submission of offer is is presented to the seller by the listing agent.

So you can ask to be present, you can do it via zoom. That way, you know, your offer is accepted. Here’s what I’m hearing a lot of these presented or presented.

Yes, I’m hearing that a lot that I don’t know. I never get a response. I don’t even know if, you know, if they looked at it. Next thing I knew, it went to pending or it went to an under contract. So this is a way that I think from the get go that maybe you just ask, hey, could I be present when you know, I would like to be present when you present the offer to the seller.

So we have a link on that. We’re going to chat that link in and show it on the screen real quickly so we can discuss.

Could this be a real headache? Yes, for everyone involved. However, you know, I think it stuns people, throws them off. The other thing is that if that gets you and you’re like, oh, I don’t know about that one, then at the very least, you can request in writing to the listing agent that you get a written acknowledge back, acknowledgement back that your offer was presented, right?

So at the very least you have that option and that should make you feel a little bit better. And if you get something back, then you can share it with your buyer.

So they know at least it was accepted, right? Unless the seller says, no, I am not doing that. I’m telling you that this is the you know, this is how the offer process is going to work. And they give those clear instructions to their listing agent that nobody’s going to be present. I’m not sharing anything. I’m. I’m not even going to put a deadline, whatever they are in charge to determine what they want to do. So unless they do that, you have the right. But if they do, say the seller said no. Great.

Could you please send me that in writing? Now, the last thing we want to do is is to be that agent that people want to avoid because you’re you know, you’re causing all these uncomfortable situations. We don’t want to do that. However, you can choose wisely and depending on who you’re working with on the other side, this could be an option.

I’m just saying ask for it in writing, because remember you answer to your client, so they need to know that you’re aggressive and what you’re doing, right. So at the very least, request for the acknowledgment to be given to you in writing that it was presented.

I like that. And I’m actually for that, I would say go ahead and do it.

Try it. I challenge anyone to try it. It was kind of funny. We were talking about it, I think last week at agent agent meetings.

But can you imagine if somebody at you as a listing agent said, Hey, I want to be there, I just want to hear how you present my offer. It could be crazy. So a couple of other things that go against what the norm is is, you know, something that Jean and I were talking about is what if I set a deadline? So we know how that typically works. Okay. You’re setting a deadline. Really? We’re in the

Debt service coverage ratio, also known as D.S. C.R., right, we’re going to go ahead and explain what this happens to mean in lending terms and how it’s helping out landlords. Owners of the property get loans done differently than they traditionally would have in the past.

And it’s kind of using commercial loans, OK for residential purposes, and it’s changing the dynamics of how this all goes on. All right. Ok, so it’s a little bit different and it’s all about like investments and how you can use retirement funds and you can diversify into this. And but DSCR is a concept.

So what we’re going to do is first start with what what it means. Ok, DSCR is debt service coverage ratio. DSCR debt service coverage ratio. So what that means is there’s a there’s a debt amount. So I’m going to use some numbers for people and this is specifically talking about investment properties.

If you’re purchasing something as an investment property, OK, what you’re going to have is how much income comes in on a monthly basis, right? And what your expense is for that property. Ok. And that’s your debt service coverage ratio. So I’m going to use a really simple, basic number and say that the amount of income that comes in is a thousand a month, so it’s like a rounded number.

So if a thousand comes in and so your income’s a thousand right and then you have expenses related to the property, OK, right. And the expenses would be everything that adds up to it. If it adds up to five hundred dollars, for example, then your debt service coverage ratio is five hundred divided by a thousand or 50 percent would be your DCR its income expenses. It’s a ratio.

Ok, debt service coverage ratio. Got it. Ok. And in that what happens is you’re able to get a loan based on the coverage ratio for the property. It’s a commercial loan, but it has to do with income and expenses, specifically just for that property. Ok. Not anything else to do with the actual borrower.

So it’s like the DTI, but It’s just for that property. Yes, just extremely similar. Ok, so DTI is debt to income ratio, but that’s for the whole. It’s for an individual right and it would talk about all of their debt. Mm hmm. And how much they have to pay. That is a minimum obligation on a monthly basis and income, how much they make divided by 12, and that’s their income ratio.

Ok. And then you have front and back end ratios for those. Ok. And this is exactly the same, except it has to do with the coverage ratio for the property desk is how much you owe every month over how much you bring in, not how much the property’s worth. Nothing to do with that.

It has nothing to do with that, but it’s really what it’s worth because that’s what the rental rate is that is bringing in each month

So the expenses such as. Everything’s included there, so that in that five hundred or whatever? Yeah. So when that five hundred what they would do is they would include everything in there. So I simplified it and just said it was five hundred. But what would happen is it would include your taxes, your utilities, a vacancy factor.

It would also include things like a realtor, expenses to release it, the property. So in that five hundred in this fictitious five hundred, it includes all of those things, plus your mortgage if you have one, right? So it adds up all those numbers. So that would be the five hundred dollars.

So tell me how the loan works then.

So how the loan works is they base it only on the property. Nothing to do with your personal stuff,

It’s only property specific. Ok, so it doesn’t matter if you own 17 other properties.

It doesn’t want to go purchase a property. Yes, and you they’re going to look at only the property,

Ok, debt service coverage ratio. But for it to actually work, it all comes down to the same things. It’s a different word on the same. On the same thing, right, is you got to put money down debt service coverage ratio and what has to happen. This property has to be in the right balance, right?

Historical housing prices, we’re going to go ahead and look at a chart because who doesn’t like a good chart when it relates to real estate and what we’re going to do is we’re going to show you why this feels different than it did in the past. We’re going to talk about some big trends that we see here with younger people moving back home, but not so young.

They’re in their thirties and forties and they’re moving back home because they can’t afford things as prices are going up. This is really happening. And then we also have people cohabitating together for a little bit longer and kind of like you’d think about, you had a college roommate.

It’s almost the same thing as an adult roommate and then put their buying houses together. I don’t know. And then we have other younger people who are starting to move out because they kind of caught their groove.

And we have like these small rental homes going on and they’re not apartments, but the rental homes, and there’s just a lot of items going on. So let’s go ahead and share this chart and start to discuss it. All right. So here’s our chart. And if we take a look right here at the middle of the graph, you’re going to see zero percent. So zero percent is a line that kind of goes along from the left to right.

And anything above that line is a positive and that’s going to be housing prices going up. Then we have anything below that line. We’re going to see that line is most notably in two thousand nine and then you’ll also see it in 10, 11 and 12. So you’re going to see it kind of in the beginning over on the left hand column. Ok. And so those are housing prices going down by a certain percentage and then obviously above is the ones going up.

So what we’re going to see is in two thousand nine, we had a housing price overall that went down by more than 10 percent. So we had negative housing prices or housing growth or shrinkage in values, right? So it went down by more than 10. Then it kind of went back up and it was a little bit negative.

So it was turning more positive than it was before, but it was still negative over the last year. So there was a loss in a loss, in a loss. But most great, the most great losses were in two thousand nine, according to this graph. Then what we see is it went up in twenty fourteen, roughly right.

So then we had we recaptured all of this negative. So if we essentially took those two numbers and kind of like swapped them and put them together, we would be almost at zero growth for the years between two thousand nine. And if we looked out all the way, maybe to twenty fifteen, if we just like, you know, took that average there, we’re at like essentially zero.

So it’s really crazy that you would go all the way from two thousand nine all the way out with essentially no growth, right? So we kind of had this pent up, well, deflation really, because we didn’t have inflation in housing prices and housing prices over a historically long period of time. Keep up with inflation, and that’s what it really is. So housing prices and inflation pretty much move in lockstep.

If you look at it over a 20, 30, 50 year time frame, they’re going to be about the same as inflation over that extended period of time. Now there’s anomalies that we have things that go on that cause more extremes, as noted with two thousand nine fourteen and then what we’ve seen recently.

So we have this other up. So what I showed you before in the early years is we kind of had this up in the down and then if we average them out, they’re about the same now. If we kind of take a look over after that in twenty sixteen twenty seventeen twenty eighteen, we kind of started to get back closer to housing prices, keeping up with inflation plus maybe just a little bit to kind of make up.

So if we looked at inflationary things being typically three percent and we’re having four or five and six percent growth, then we were, you know, exceeding that by just a little bit kind of making up, but not fully r