11: Migration, Inflation, and Why Big Cities Are Losing Their "Desirable" Status w/Redfin’s Taylor Marr

On The Market

BiggerPockets

Investing, News, Education, Business

4.8 • 858 Ratings

🗓️ 13 June 2022

⏱️ 59 minutes

🔗️ Recording | iTunes | RSS

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Summary

Over the past two years, home prices have looked as if they’re never going to drop. With record-low interest rates, a newly formed remote work culture, and millennials at peak homebuying age, who would have thought that lower home prices would come so soon. Although traditionally affordable areas of the United State are still teetering on “overpriced” status, many high-priced markets are seeing negative population growth, and home prices are getting hit as a result. This is just one of the topics we touch on in our in-depth interview with Redfin’s Deputy Chief Economist, Taylor Marr. Taylor, like our own Dave Meyer, spends his days digging through the most important real estate data around. Whether it’s housing market updates, inflation and interest rate changes, or migration patterns, Taylor is on it long before you read one of his team’s excellent articles. As a key member of one of the leading companies distributing accurate, timely real estate data, he knows the housing market better than almost anyone else. Taylor’s insight is invaluable if you’re looking to migrate to a new part of the nation, invest in a new market, or debate whether or not to sell a property you own. He goes over supply and demand, how the “lock-in” effect has stalled the housing market, which real estate markets are primed for huge growth, and which could suffer serious financial fallout from a lack of homebuyers, renters, and demand. In This Episode We Cover What caused so many Americans to buy homes in new parts of the country How “cash-rich” homebuyers caused region-specific inflation in their areas The migration patterns to pay attention to when analyzing a real estate market Which cities are primed for rent and home price growth, declines, or stagnation How the “lock-in” effect is prompting more homebuyers to wait out the housing market Why we’ve started to see home sales decline as more homebuyers resort to renting And So Much More! Links from the Show BiggerPockets Forums BiggerPockets Agent Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Stay Up to Date on The Biggest Housing Market Moves Inventory Shortage Could Continue As Interest Rates Rise and Homeowners Feel “Locked-In” What Can U-Haul Rates Tell Us About U.S. Migration Patterns? Connect with Other Investors in the “On The Market” Forums Connect with Dave and Our Panel of Guests Dave’s BiggerPockets Profile Dave’s Instagram Henry’s BiggerPockets Profile Henry's Instagram James’ BiggerPockets Profile James' Instagram Jamil’s BiggerPockets Profile Jamil's Instagram Kathy’s BiggerPockets Profile Kathy's Instagram Connect with Taylor Taylor's LinkedIn Taylor's Twitter Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-11 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Buy low, sell high. Very easy to say, but not always so easy to do. For example, high interest
0:07.2	rates are hurting the real estate market right now. Demand is dropping and prices in a lot of
0:12.2	markets are falling, even for many of the best assets. So it's no wonder the Fundrise
0:17.3	Flagship Fund plans to go on a buying spree expanding its billion dollar real estate
0:22.7	portfolio over the next few months you can add the fundrise flagship fund to your portfolio in
0:28.9	just minutes and with as little as $10 by visiting fundrise.com slash pockets fundrise.com
0:35.7	slash pockets carefully consider the investment objectives,
0:39.5	risks, charges, and expenses of the Fundrise Flagship Fund before investing. This and other
0:44.9	information can be found in the fund's prospectus at fundrise.com slash flagship. This is a paid
0:50.9	advertisement. In a frequently shifting market, deciding how to invest can be overwhelming.
0:55.7	You need a partner that has a proven track record, BAM Capital.
0:58.6	They've navigated the Great Recession, COVID, and even the current interest rate environment, delivering max returns.
1:04.4	If that track record isn't impressive, then I don't know what it is.
1:07.4	Bam Capital is a trusted multifamily syndicator with over $1.3 billion in transactions.
1:12.7	Their disciplined investment strategy targets cash flow stability, capital preservation,
1:17.4	long-term appreciation, and accelerated tax benefits. Join Bam Capital's 1200 plus investors across America
1:23.5	at biggerpockets.com slash bam. That's biggerpockets.com slash BAM.
1:28.8	Hey, everyone. Welcome to On the Market. This is your host, Dave Meyer. And today we have an
1:42.2	incredible show for you today. I'm going to be joined by the one
1:46.1	and only Henry Washington, and we're going to be having a fantastic conversation with Taylor
1:51.7	Marr, who is an economist at Redfin. He's going to share all sorts of incredible information
1:57.0	about the housing market and the migration patterns that are impacting housing markets all over the country that we've been seeing since COVID.
	...

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