Housing Market CRASH? In 2022? Home Prices UP or DOWN? SPECIAL Saturday Stream, Join Me!

We had a special live stream tonight on what experts are saying about a housing market crash, will that housing market crash be in 2022, and what will home prices.

We began the show with a story of perseverance. Mark Appel, the now 30 year old pitcher and first round pick in the 2013 draft will make his big league dreams come true on Saturday as a member of the Philadelphia Phillies. What a story! We compare this with those who work in real estate and grind and grind until they make it. Perhaps you can relate to this story in your own career?

Next, we started our special report on a possible housing market crash with an article discussing reasons why there will not be a housing market crash according to various economic experts. They cite tighter lending standards, favorable demographics, and lack of inventory as strong reasons why we will not see a housing market crash. I offer that I don't think they are accounting for the dangers of inflation in their analysis.

Our second article discusses a possible housing market crash in 2022, and again, the consensus by experts seems to be that this is highly unlikely. Economists are forecasting more of a "correction", and so it becomes an issue of word play for me. What is the definition of a housing market crash versus a correction? Does anyone honestly believe that houses will have a value of zero?

The final discussion we had related to home prices. They continue to rise even as total sales go down? Why is that? My opinion is that it is because of a severe lack of inventory. Again, inflation comes into play here as well. With higher home prices, those would be home buyers in the housing market are seeing home prices that are high relative to what they are wanting. They do not see the value when the home prices are high over what they currently own. First time home buyers are similarly not impressed with the home prices relative to the amenities offered.

Our recap was pretty simple, we just went over the articles and added commentary on Mark Appel, the housing market crash, and home prices in a condensed way.

0:00 Introduction
1:41 Home buyers staying out of the market this weekend? Why?
9:16 Mark Appel story of perseverance, applies to real estate agents too
17:52 Housing Market Crash?
50:44 Housing Market Crash in 2022? Not likely, according to experts
1:06:08 Home Prices
1:16:04 Recap: Mark Appel, Housing Market Crash, and home prices

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-Buyer sentiment this weekend in Stl…lots of properties coming to market, but it is almost 100 degrees today and buyers seem to be annoyed by the high mortgage rates from earlier in the week and just not be interested based on my own clients.

Google Trends has us learning about Mark Appel

30 year fixed mortgage rate came in at 5.85%

A. Is the housing market going to crash? This article says no
B. Is the housing market going to crash? This article says?
C. Average price for a home in the United States hits a record

Sources:

https://www.cbssports.com/mlb/news/phillies-call-up-former-number-one-overall-pick-mark-appel/

https://www.bankrate.com/real-estate/is-the-housing-market-about-to-crash/

https://nypost.com/2022/06/24/us-housing-market-price-correction-to-hit-coast-to-coast-moodys-economist-warns/

https://www.theguardian.com/society/2022/jun/21/us-home-average-price-record-high-may

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#Homeprices #Realtystream #Housingmarketcrash