BiggerNews: New 2023 Housing Market Predictions (Buyers Are Back!)

this is the BiggerPockets podcast show seven six zero people are eager to buy into the housing market right now affordability is low but as soon as you know affordability improves even a little bit people are sort of jumping back in and are buying like Denver where I mostly invest which was up until a couple weeks ago one of the markets facing the biggest Corrections activity there has just exploded over the last couple of weeks so I think it's way too early to say like the correction is over but I am surprised by how brief that correction so far was what's going on everyone this is David Green your host of the BiggerPockets real estate podcast here today with a bigger news Episode co-hosted by my buddy Dave Meyer and we've got a great one for you today Dave how are you I'm great it's good to be back I feel like we haven't done this in a while and I love doing these shows yeah these are some of my favorites and a lot has gone on in the world of real estate since the last time we did this so we have quite a bit to talk about what were some of your favorite parts of today's show I am just sort of fascinated about what's going on the housing market as I always am but I think people will be kind of surprised to hear the state of the real estate market because the headlines and reality are not exactly aligned right now and I also really liked what you shared at the end because not everyone in the real estate investing education space shares the challenges that they have but I think you uh shared some of the challenges in today's market that even really experienced investors like you experience Dave I think you also made a great point if you listen to an episode a month ago or you watch the news three weeks ago our Market is Shifting more quickly and with more volatility than it ever has in my lifetime and these shows become that much more important which is why we keep bringing them to you but you may be surprised when you listen to Today's Show to hear about some of the changes in the housing market yeah I mean people always say like oh real estate's not the stock market that's not like it doesn't change that quickly but it's definitely becoming a little more volatile and I guess newsworthy like that things are really changing at a much faster Pace than at least I've experienced in my career which makes for um really interesting things to talk about and discuss like we do in this episode and we are going to get into that soon before we do today's quick tip is brought to you by Dave Meyer himself Dave what do you have for us yeah so I wrote a report trying to summarize what has been going on in the housing market and macro economics through 2023 thus far and you should go download it it is completely free just go to biggerpockets.com Q2 update Q2 like quarter two so it's biggerpockets.com Q2 update and I gave you all my thoughts all the data I can find about the housing market to help you make sense of this weird and confusing market and give you the ability to make informed and smart investing decisions nonetheless all right so make sure you go check that out it'll be good for you much like your vegetables but it tastes good because is written by Dave let's get to our first headline our first headline for today is obviously about inflation we got new data that showed that inflation year over year has dropped to its lowest level in two years but is still pretty high by pretty much any standard the headline CPI which takes into account the broadest set of goods and services came in at five percent we also saw that monthly it went up just 0.1 percent which was encouraging and it did come down from six percent in February so the headline data at least to me Dave I'm curious your opinion was somewhat encouraging on the other side though we did see core prices which for anyone who's not familiar excludes a lot of volatile things like food and energy costs those seem to be a lot stickier and they actually went up just a little bit is now higher than the headline CPI it is now at 5.6 and it grew point four percent in just a month so what do you make of this new new inflation data it's man I mean it's going up even as we're taking such drastic efforts to keep it from going up that's the part that Ruffles my feathers a little bit if it was like just happening on its own naturally but with the fed and the government locked in on how can we stop inflation it feels like it's their number one priority and it's still creeping up like that it makes you wonder what it would be doing if we weren't making these great efforts that's a good question I haven't really thought about that'd be like 40 we'd be like turkey with turkey has like 100 inflation or like Argentina yeah I have this analogy shocking that I used to describe like what I see happening with inflation where we've printed a lot of money we have more Supply but imagine that we just 10x the amount of diamonds that were in circulation it's not like the population the common population would know that there's 10 times the amount of diamonds they would probably still be selling at the same price of what diamonds cost and then one day you'd go in there and you're haggling over the price of a diamond and you know the 20 year old working at the at the at the diamond shop is like all right man fine that's cool I'll do it yeah and you're like oh that was kind of easy and you tell your friend and they're like really I was actually thinking about getting diamonds for my girlfriend for Christmas and so they go in there and they're like you know you think I could get that for 30 off and the person's like yeah you know it's the 30th of the month I gotta hit my quota all right and I'll throw in this too like holy cow and then someone posts on Facebook and everybody started to realize you could get diamonds cheaper at that point the price of diamonds would start to go down and then it would just become a free-for-all like how much can we get these things for you'd be seeing people pushing the limit of every way they can because diamonds are inherently less valuable when there's more of them I look at the situation with our economy in a similar way we've made more dollars but we didn't go tell everybody not everyone knew that there was a lot more dollars floating around so stores ownership people that are producing the goods they're raising the turkeys they're grow they're having eggs they're growing the food they're not just gonna Jack the price up they're gonna test to see like well how much can I charge how much can I raise it and then as people keep paying it they just say oh shoot we can do this more and this ripple effect is sort of moving all throughout the population both from things measured in the CPI and things not measured in the CPI including the real estate market so I think we're sort of in this this era now where people that charge for their services or goods are testing to see how much can I get away with because we've increased them money supply and even though we're doing everything we can to slow that down I feel like it's inevitably going to continue do you think that there's do you think my analogy falls apart with your understanding of like macroeconomics that the diamond analogy isn't the best way to look at it no I I think you're right in that uh as there there is a a huge increase of Supply in in money and how that ripples through the economy is obviously still being felt and to your point no one you know a year or two ago was like oh they printed trillions of dollars I'm gonna raise 20 prices 20 right I mean even as a as a property manager as a landlord like people weren't doing that with rent they were probably raising it a little bit and reacting to both their increased costs and people's willingness to pay and it does seem like that has continued but I am encouraged that it's slowing down at least at least the headline is slowing down and this is a little wonky but there is a good indication that the core prices will start coming down in the next couple of months but it's just going way slower than anyone had hoped but I do think like it has probably peaked and it is going to keep going down it's just going to be a bit slower and more painful than we expected it to be I hope so I feel like inflation is one of the most dangerous things that happens to your finances because you don't see it coming it's a carbon monoxide when when taxes are increased when tariffs are increased when there's something that's just out there in the open that you can see you can prepare for it you can make wise decisions but with inflation you never know you just go to the gas station and it's more expensive or you go to the grocery store and all of a sudden the steak that used to cost eleven dollars is now twenty four dollars especially the people trying to eat healthy right have you seen this in the sandwich Market our Deli is just crushing right now it's insane my friend sent me a 29 sandwich she sent he saw the other day he did eat it but like that's crazy but I think your point about it being slow is so true because also the way it works is that it's not always the same thing that's been going up a lot like yes for example like used cars went crazy now they're actually backed down to below where they were pre-pandemic but like food prices are still up really high for example and have shown really not a lot of signs of slowing down so I think that's what's like you see a little bit of a abatement or it gets better for you in one area and then it's like a whack-a-mole situation where like every once in a while it's going and I think to your point it just takes time for that to Ripple out and one of the Ben one of the good things about uh it's not good but like one of the things that is hopeful I should say is that the way that we know and track rent in the CPI is like it's still showing that rent is going up a lot right now like eight nine percent but that is one category that we know from private sector data like has been going down or at least Flatline for almost a year now and so the way the CPI tracks this rent is really slow and so even though that's like the mole that's popping up right now and is pushing core CPI high is rent we know that it's actually down it just takes a while for the cpi's poor methodology to show that um and so that is why personally I'm hopeful that it will start to go down the core the core CPI but it's going to be a while I don't realistically think it's going to be um you know we're going to get the two percent Target this year but I do think we'll get significantly closer to that by the end of 2023. yeah I definitely hope so because inflation if we all got job cuts at work we'd be furious if they came in and said you're getting a 10 decrease in pay or five percent decrease in Pay but if food goes up by five or ten percent or the things you have to buy it's the same thing in Practical terms it ends so it's it it's hurting especially the people that are not listening to a podcast like this that are not financially Savvy they're not really aware how things work they're just a good old-fashioned I show up I put my boots on I trade time for money I use that money to go buy the things that I need they don't realize that uh this is happening and if you're not buying assets if you're not buying things that appreciate with inflation you're getting hammered so congrats everybody who's listening to this you're already in a stronger position totally and the the the other thing about inflation that I think is is so damaging is that just destroys economic confidence which is really important for an economy like people need to believe that things are going in a good direction for the economy to grow and we've seen this over the last couple of years because there have been some parts of the economy that have done well over the last year but since inflation is so bad it has just been overshadowing all of the economic you know bright spots that there have been and that leads to a downturn you know like I can economic sentiment really matters and I think we really just need to get inflation under control as painful as it is we need to get it under control so that people start you know feeling confident about their own Financial positions again and that like the decisions they make about their spending um are sound because like prices aren't going to go up and they can you know plan for their future appropriately it's a very good point and it's not just with the financial system that's kind of with our country as a whole with the world as a whole we saw what happened when you get a bank rent what happened to Silicon Valley Bank and other banks in fact the FED had to come out and say all deposits will be protected just to stop that from happening because when everybody panics it doesn't take much to take down an entire system that we all rely on so when people lose faith in the strength of the dollar or the economic system can create Panic like that movie The Purge kind of highlights how we just live on this like Fringe line of safety that we all have this unspoken uh societal agreement that we're not going to kill people we're not going to just take things that we want there's there's a consequence for that but when that breaks down it can lead to just like crazy bad times and we've seen that throughout history at times and that's one of the reasons we're talking about this is we definitely don't want that going down I like using the purge as an example it's a good movie in uh some more housing news we have a housing market recovery that seems to be taking place so a couple points to note here in March mortgage rates ended the month over a 30 basis points lower than where they started and more buyers have returned to the market home prices fell a year over year in February the median existing home sale price decreased by two percent in February compared to a year ago and housing starts which I wish we paid more attention to increased to 9.8 percent nearly 10 percent with building permit applications Rising almost 14 percent from January to February while mortgage rates decreased 6.32 percent in the last week of March now housing starts mean that while there is that's obviously that there is a lack of Supply it means that Builders have confidence that if they build these houses people will buy them just like you talked about with people needing to have confidence in the financial system many decisions are made based on the psychology of the the market like what will people do if we do this so the housing market seems to be heading in a good direction what do you think about this so far I am surprised let me just say that I personally if you listen to on the market I've said it on this show have never to date been convinced or even thought that a quote-unquote crash was probable like I didn't think that over the last year or two when people were saying interest rates are rising they've gone up quickly they're gonna price they're going down 20 I've never really believed that I've said repeatedly that I think houses prices will go down this year is the most probable case but probably under 10 you know somewhere like three to eight percent declines that said and so like I still believe that but that said I did not think that we would start to see this much like activity in the market in q1 like I kind of thought it would take until the FED paused raising interest rates maybe we'd get some more stability uh in mortgage rates that we would start to see people jump back in but what it feels like and I've talked to a few agents and lenders so I'm curious your opinion on this David is like they've said that like anytime rates go below six and a half percent people are just like calling them like instantly that seems like some magic number um and it just shows that people are eager to buy into the housing market right now affordability is low but as soon as you know affordability improves even a little bit not even as much as I would expect people are sort of jumping back in and are buying and this is happening obviously in certain markets more than others but like Denver where I mostly invest like which was you know up until a couple weeks ago one of the markets facing the biggest Corrections like activity there has just exploded over the last couple of weeks so I I think this is fascinating I think it's way too early to say like the correction is over but I am surprised by how brief that Corrections so far was we're seeing the same thing in California when rates went down three or four weeks ago our escrows on the David Green Team jumped by almost 50 percent in that period of time it's immediate right so oftentimes we look at lagging indicators like well houses aren't selling right now or they're not selling for as much or they're selling for less and we don't we don't look at the fundamentals of why we just we just look at oh see the cpi's up or the cpi's down houses are selling or houses are not selling well my theory was there's all this money sitting on the sidelines that's waiting and the minute you get the small in the armor interest rates come down a little bit Boom everybody comes flooding in and it's like every house is getting five or six offers they're back to non-contingent they're back to all cash sometimes I mean it's been wild to see how quickly that like that spark causes this huge fire and so uh like my theory is that there is a lot of money sitting on the sidelines and frankly real estate feels safer than any other investment option still there's there may be money that's waiting to jump back into the stock market I'm not a stock market expert so I can't comment on that there may be a big uh crypto Community that's waiting to see that they're gonna rush back in I don't know how other asset classes work my theory is everyone's worried about every asset class that isn't real estate and even though it is not easy to get cash flow if that's because there's so many people that are competing for these assets and we're not making more of them frankly so I think it's positive the own real estate and you want to see the value of it increasing and it's positive if you're trying to feel good about is is should I be buying or a price is going to crash it's not so great if you're the investor who wants to get that great deal and you've been hoping that prices would continue to decrease and competition would continue to go away with the spring uh buying season ahead of us Dave what do you think home buyers should anticipate in regards to prices and inventory levels why do we have to make these predictions it's so hard I I will say this I think that that prices are going to follow a normal seasonal pattern and this is going to be nerdy but basically David you're probably aware of this that prices go up in the spring in the summer then they Peak somewhere around like you know July and then they slowly go down until December January that happens every single year basically and I think that pattern is going to happen just slightly lower than it was last year like that's basically what we're seeing prices are down two percent year over year but they are going up like prices are up from January to February they went up from February to March they went up but March of 2023 is is lower than March of 2022. and so I think that is sort of the pattern that we're going to see that prices are going to stay mildly below where they were in 2022 but I think that you know right now you know things are changing rapidly but the way where we're sitting right now in the middle of April when we record this I think this spring and summer seasons are going to be pretty busy what do you think that's how it's looking right now um great news if you're somebody who owns property not great news if you're someone who's looking to get a great deal but I agree with you and you made me think of someone you were talking Dave if I brought you a deal great neighborhood like b b plus a minus neighborhood in California with a 20 cash on cash return the minute that you buy it would you jump on that deal yes absolutely right you're that I I would I would move Heaven and Earth to get to that deal right well I do do you have one of those I wish I could I have it there was a time in 2010 2011 2012 where we turned those down because the 20 Roi was not sexy enough to get us interested we were looking for 25 30 on a deal before you can make it work right and now if you just have a two percent return we're like hey that sounded pretty good right I can make that work it has to do with expectations and those expectations are based off of what we see uh when we're looking at deals like your your brain looks like that it looks at all your options and it wants to find the best ones just keep this in mind that so many people are willing to pay what they're willing to pay for Real Estate they're willing to get the smaller cash on cash return because they're comparing that to other asset classes where it is either way riskier or there is no cash on cash return whereas real estate still makes money in a lot of different ways people get tax advantages from it uh people can shelter their W-2 income buying short-term rentals people can get out of the job that they don't like and replace that with real estate even if it's not a huge cash on cash return if it's getting them their time back they're more likely to do it they they know that they're going to have rent increases over time they know the property is going to increase there's lots of ways real estate make money outside of just that Roi that you get from the cash flow right off the bat and as people are trying to find safe places to put their money because of that I word we talked about earlier inflation real estate is continuing to be the uh the the most attractive looking vehicle and then we haven't even talked about the fact that most of these buyers are not investors they just want somewhere to live yeah totally yeah I mean everyone makes a big deal out of investors and the share of properties that go to investors has gone up but seventy percent of of properties are sold to owner occupants so it's like that is who is driving this majority and we talk about it's boring but good old-fashioned demographics people are having you know there's a lot of Millennials who want houses right now and that that doesn't go away that much that's right your competition's not listening to Bigger Pockets and running Roi they're just looking at their rent going up and saying I want my own mortgage yeah exactly all right our third headline is about D dollarization have you heard about this recently no basically the US is the dominant currency Reserve in the world and that is a bit complicated but in short basically in order to make international trade easier and to stabilize exchange rates central banks like the Federal Reserve across the world hold other countries currencies quote unquote in reserve the U.S is by far the most it's 60 percent of the world right now of all Reserve currencies is U.S dollars the next biggest is the Euro and it's 20 so it's really dominant but of late there are some signs that that dominance is cracking so the the examples are the brics Nations which um bricks stands for Brazil Russia India China and South Africa a lot of uh large emerging economies announced that they are going to introduce a new alternative currency to be used as Reserve uh China and Brazil have agreed to settle trades in one another's currency Russia and India said that they want to move away from usds the Finance Minister of Saudi Arabia said they were are open to moving away from using dollars for oil and gas trades which hasn't been done since the 1970s since the US went off the gold standard so there's a lot of signs that this might be happening and I am curious what you make of all this well now that you mentioned what it is I have heard of it I hadn't heard of it called dedolarization before uh but it is I think this is kind of significant it's one of those things that you wonder why more people aren't more concerned about it maybe it's just we don't want Panic to happen in the country but one of the reasons if you don't understand macroeconomics that we've been able to print so much money is that there is a demand for it across the world is a short way to put it other people trade in our currency so oh we made too many diamonds we can ship a bunch of them off somewhere else we can keep our own Supply levels low so the price of diamond stays expensive right yeah well if other countries start saying you know what we actually don't need to pay your diamond price anymore we are going to use uh rubies for our engagement means or for our means of jewelry and the demand for diamonds goes down those diamonds all have to flood back into our country which causes inflation much like you hear us talk about we need to reduce our dependence on other countries for oil because if they're the ones that produce the oil they set the price we have to pay what they want us to pay we want to have our own oil so we don't have to do that well that hurts them economically they're doing the same thing back to us and so what I see is that at a global level it's becoming more competitive economically and if that ends up happening that is a scenario that could lead to more inflation which is what we started off today's show it seems like everything always comes back to that doesn't it Dave yeah it does indeed uh I mean I I think that this is an issue um I have done a lot of research into this we did an on the market episode that came out on uh April 21st if you want to hear more about like the history of how the us became the reserve currency all that sort of stuff um and you can check that out on the market it um but what seems to be happening is one like you said David other countries just don't want to be entirely dependent on the United States for a few reasons that like if you're coming at it from their perspective sort of makes sense one is that like problems in the U.S Ripple through the rest of the economy like we saw that in 2008 that crisis financially started in the United States and then spread throughout the world largely because there's a lot to do with the US economy and they're well intertwined the other thing is like as you said the US has flexed a little bit being the currency Reserve country uh on the geopolitical stage and when Russia invaded Ukraine they uh They seized the US government seized 300 billion dollars in in Russian reserves and so like other countries are looking at that and they're like we don't want to let that happen what I don't think is happening is like I haven't heard any country say like we're not going to use dollars I think what they're saying is like they want to get more parity because if the US is 60 the euro is 20 everyone else is like 20 they want to create a system where they're not too reliant on any one country um the thing is there isn't really another Contender to the US dollar right now and so I do think like because all these countries have stated that they want to do this that it will probably reduce the US's share over time but until like another currency comes along that actually makes sense um I think it's not going to be a pressing issue but this is obviously not my area of expertise but from the research I've done that's sort of what I've gleaned I think that's wise but it does show the intention right yeah so I don't think this is something that in the next two months we're gonna see it changing anything this is one of those things that you need to pay attention to this because five years down the line ten years down the line significantly big changes could have happened that's a terrible way to phrase that but significant changes could happen to a big magnitude that started at this point right now and a lot of people like they just want to know what's going on right now like what what do I need to know where's the deal at how do I get an opportunity as well give me give me right now I just want my 15 minute reel that tells me where my 15 second rowlet tells me where I'm supposed to buy yeah it's not wise to look at it that way it is wise to look about what's happening at the big picture and then make your individual decisions based on the current market but your overall portfolio should be based on what you see happening at a national level yeah absolutely well again if you want to learn more we talk about some surprising benefits that could happen um if the US has not used as much some of the other risks there definitely are risks and benefits so check out that episode of on the market if you want to do that but David what's our last headline here our last headline has to do with vacation home demand which is a trend that has been sweeping the country it's been the all the rage for the last several years now demand for vacation homes is down by more than 50 percent to pre-pandemic or from pre-pandemic levels the number of people locking in second home mortgages dropped to its lowest level since 2016. so curious Dave do you think that the high interest rates are scaring off buyers looking for a second home or do you think it has more to do with saturation in the vacation home like short-term rental market man I I like this question and something I really like talking about but I think it's a combination of things so interest rates definitely right like people might be willing to Bear higher interest rates for primary residents because that's important to them for reasons that go beyond finances second home it's like all right I don't need a second home so I'm probably not going to pay a six and a half percent interest rate on that I think that is one of the major things the second thing is the work from home craze is stabilizing now if you look at the data it shows that work from home seems to have peaked it's come back down a little bit less days are being worked from home but it's flatlined now like it's pretty stable um and so I think the idea like this what happened during covid where people were like oh I just want to get the hell out of this city in this like little shoe box that I live in and I'm gonna try and get somewhere with some more space or somewhere that I can spend time with my family and maybe not be include close proximity to other people that rage seems to be over and then I think the third thing that's really important here is other asset classes like people the crypto markets and the stock markets went absolutely insane for two years and people were taking money from the stock market they were taking money from crypto and they're putting into real estate they were flush and they're like I'm gonna go buy a house in the Smoky Mountains or in Joshua Tree or wherever and now that is also not true so it seems to me there's like this Confluence of different things that are going on um that are dissuading normal people from buying it and then I think with investors when you look at the oversaturation of the market like they're probably scaling back and it just seems like demand in these markets might be down for a little while I think that's a wise assessment I think you're you're spot on there the vacation rental home really did disrupt the balance of the housing market in general like before you had air V VRBO everything was different about real estate like there was no 30 cash on cash returns that you could get getting a home unless you bought in 2010 right you had to wait for Market distress you couldn't just buy in a healthy Market get a return like that well vacation rentals changed it so people flooded into those markets people like me got involved not just for the cash on cash return but I'm like I can own a house in Malibu that isn't going to bleed money every month I can make money on a beach house in Malibu I can buy in Scottsdale Arizona I could buy in like these wonderful markets at grade a location location location this is where you want to own real estate and I could turn it over to a property manager and I can make money off of this thing do nothing exactly now now I'm soaking up inventory that used to go to people that just were wealthy people that wanted to live on the beach in Malibu or wanted to live in a in in South Florida they wanted to live in Scottsdale I'm also driving the prices higher because I'm willing to pay way more for that house than someone who's just gonna live in it because it's gonna make me money in a sense it's not that we don't care about the price it just isn't a significant factor if I could pay 200 Grand over all the other homes but that property is going to make me 60 Grand a year and I'm going to do nothing it's worth that to me so what we started to see was inventory that used to just go onto the open market for regular people to buy a home sucked up by these short-term rental investors we also saw people getting into rental property investing that were not involved because they could make it work with short-term rental investing we also see now tax benefits going to people that are making good money outside of real estate that short-term rentals open up doors so all these people flooded and they're buying short-term rentals and it's like the new Gold Rush everybody's going to California to to strike it rich and then you get there and you realize oh this isn't it's not like I thought this is a bloodbath I'm competing with all the other people I could actually lose money here because so much money came into this the neighbors are making my life hell the cities are now trying to respond to this new trend and they're they're over they're overreacting they're shutting people down they're just trying to run a normal business it's it's sort of in flexing it's in chaos right now so it does not just surprise me that we're seeing vacation home demand go down it was ridiculously too high it when people were buying vacation homes that were never intended to be vacation homes they're just using that loan in order to get in for 10 down and still buy short-term rentals yeah I totally agree that's a great point about the regulation too that that's another thing that is still shaking out and I think you know if you combine that with all the other risk factors right now the risk is just pretty high in my mind there's a lot of risk oh yeah I I got in this just an anecdote for my life I'm sure it's not a statistic that would work across the country but I got into several vacation rental markets bought properties that were already licensed by somebody else and as soon as the neighbors saw the for sale sign on the property they knew it was going to change hands they this happened this has happened to me over six different short-term rentals that I bought the neighbors in every one of these properties joined together formed a coalition went to the city government and called the city planning department and have done like a coordinated effort to stop me from getting licensing on this property yep people really don't like it but I'm saying this because I don't want other people to get in the same boat yeah I bought the property having no idea this was going to happen and that has happened to be over six different properties across the country all from neighborhood coalitions that are like we don't want short-term rentals and this is not like House Parties being thrown this is literally just this hatred for Real Estate Investors that has made its way known and I know that as people are listening to talk they're thinking the same thing yep I'm going through that I'm going through that it definitely has put a damper on the demand for that asset class yeah for sure I mean you probably just scared like 50 000 people away from wanting to buy short-term rentals so demand's going to be down even further yeah that's only that's the tip of the iceberg for what uh problems that I'm having in those with those properties but um that's that's one of the things that can happen when when you need to go through a municipality or a government it's very easy to get caught up in these weeds that you can't necessarily get out of whereas if you buy a property that neighbors don't care about you could do your work without permits you could not have a license at all nobody even sees anything about it so short-term rentals are complicated they are very situationship they are not a relationship try to avoid getting in those sticky situations if possible okay we have a new report for you it is a hundred percent free for anyone listening to this it is something that I wrote It's called the state of real estate investing and basically just summarizes all the macroeconomic and housing market conditions that are really influencing the decisions that we all as investors are making right now it's really easy to use it's 100 free you could just find that on biggerpockets.com just go to biggerpockets.com Q2 update like quarter two that's biggerpockets.com Q2 update and hopefully it will help you make informed decisions as an investor and of course if you have any questions about it you can always hit me up so go check it out yes you should go check that out and David's been so nice to see you again there you have it folks we have inflation the housing market recovery D dollarization and vacation home drama all brought to you by the good people here at BiggerPockets this is David Green for Dave the 29 Sandwich Man Meyer signing off to be clear I did not eat it but I want to I would if I'm being honest I would [Music] foreign

Channel: BiggerPockets

Views: 42,075

Keywords: housing market, housing market predictions, housing market predictions 2023, 2023 housing market predictions, real estate market, housing market crash, real estate market crash, us real estate market, real estate, real estate investing, invest in real estate, market crash, housing market forecast, real estate forecast, real estate market forecast, federal reserve, economy, inflation, recession, recession 2023, crash, biggerpockets, biggerpockets podcast, biggernews, podcast

Id: KtmjA4dQ3dY

Length: 35min 58sec (2158 seconds)

Published: Tue May 02 2023