Jason Hartman talks with Matthew Gardner, Chief Economist at Windermere Real Estate. The two discuss what’s going on in the macro US economy, what’s going on with home inventory levels, some of the easiest ways to lower home prices, and the Millennial’s (mostly futile) quest to save up for a down payment. They also discuss the lack of home inventory and why the loosening of credit regulations isn’t going to impact home sales as much as some are hoping. Then they also delve into millennials trying to afford homes and WHERE they can actually afford to live.
[1:18] What’s Matthew’s take on what’s going on in the macroeconomy
[4:06] What’s going on with new home development? Will there be any break in inventory shortgage?
[8:19] The easiest way to lower home costs and ease the inventory crisis is by easing regulatory burdens
[11:54] Millenials are having a hard time saving up for a down payment and are asking for a loan from the bank of Mom & Dad
[14:39] Milennials want to live in the “exurbs” in townhomes, but home prices are pushing them out further
[17:05] It’s taking a credit score of 740 to get a mortgage loan these days, but even if more people become eligible there’s no inventory
[20:16] Factors that could trigger the next business cycle recession and what the next recession might look like
[24:34] Who are the “Boomerang Buyers” and how might they impact the single family rental rate growth?