January 18, 2023

1949: Shadow Demand, Lower Existing Home Sales, Increased Mortgage Rates, Decreased Home Sales Volume, Outlook for 2023, Rick Sharga Part 2

44 minutes

It's 9 days till the life-changing Empowered Investor Live summit happening on January 27 to 29 at Scottsdale, Arizona! Empower your life by joining a community of investors and third party vendors together with Jason's own investment counselors who are passionate about your investing success! So start the year right! Go to EmpoweredInvestor.com/live and get your tickets TODAY!

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

Mentioned:

Altos Research

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