281 - Election Housing Market Fears - Myths vs. Facts
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 5 November 2024
⏱️ 18 minutes
🧾️ Download transcript
Summary
Feeling paralyzed by the chaos of the 2024 election and unsure whether now’s the right time to buy a home? You’re not alone. In this episode, David Sidoni breaks down why the current election panic might be making you second-guess your plans. Spoiler: the data suggests that waiting for a “better” time could actually cost you. Tune in as David shares historical insights and proven strategies to help first-time buyers navigate the storm—and why now might be your best chance to act.
Quote:
"The election will pass, the headlines will fade, but the smart decisions you make today will impact your future for years to come."
Highlights:
- What if all the election hype is just making you overthink your home buying decision?
- Could waiting until after the election leave you with fewer opportunities in the housing market?
- Is it possible to secure a mortgage rate below 5% in today’s environment? Yes—here’s how savvy buyers are doing it!
- What if historical data could show you that home sales actually increase after elections? Find out why you should bet on that trend.
- Could the election year slowdown actually create a secret buying opportunity that you’re missing out on?
- Why do experts agree that the housing market is likely to pick up steam in 2025? Get the facts that could shape your next move.
- What if the key to affordability isn’t waiting, but instead acting now with the right strategy?
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David Sidoni, the "How to Buy a Home Guy," is a seasoned real estate professional and consumer advocate with over 18 years of experience helping first-time homebuyers navigate the real estate market. His podcast, "How to Buy a Home," is a trusted resource for anyone looking to buy their first home. It offers expert advice, actionable tips, and inspiring stories from real first-time homebuyers. With a focus on making the home-buying process accessible and understandable, David breaks down complex topics into easy-to-follow steps, covering everything from budgeting and financing to finding the right home and making an offer.
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Transcript
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| 0:00.0 | It's Election Day here in the U.S. and the entire country is freaking the f*** out. |
| 0:07.0 | Panic and fears gripped everyone for the last several months, and today is no doubt going to be the start of, well, probably an agonizing waiting game. |
| 0:16.0 | And all I can think is, this two shall pass. See, in my lifetime, because I'm old, drink, people have survived |
| 0:23.0 | an energy and gas crisis where you could only get gas on odd or even days depending on the |
| 0:28.4 | numbers on your license plate, and you had to wait in line for hours. And then we survived the |
| 0:33.4 | cocaine-infused neon clothing 1980s. Then we survived the dot-com crash that happened in 2000. |
| 0:41.0 | Then we survived 9-11. And more recently, a global pandemic. Yet, this 2024 election seems to be |
| 0:48.7 | freaking people out more than anything I can ever remember, especially when it comes to housing. And you know, |
| 0:55.8 | in those other crisis, I didn't mention that interest rates were at 18.63% in 1981 and that |
| 1:02.3 | home sales dropped that year by over a million homes. So if you're freaking out over this election |
| 1:08.7 | and how it's going to affect the housing market, let me bring |
| 1:11.3 | some facts and data to help calm your stressy vibes. Homies, this two shall pass. And the historical |
| 1:17.5 | facts on how elections really affect the housing market, it's going to bring you some peace for your |
| 1:23.8 | mental sitch. Hey, JT, let's try some different music. Play something calm for everybody. |
| 1:33.0 | Hello, homies. What's happening with your aura right now? Let's release all that negative |
| 1:41.6 | and fearful energy. Let it flow out from you into the universe. Feel the |
| 1:47.6 | positive light surrounding you, protecting you from the current shi-shed show that is our world |
| 1:53.4 | right now. Homies, I get it. |
| 2:05.9 | Election fear is real, and right now the news is giving end-of-the-world vibes. |
| 2:12.2 | I've been hearing about this since last year before we even got into 2024. |
| 2:16.6 | Starting last year, 71% of first-time homebuyers put their plans on hold. And according to a survey that just |
| 2:19.0 | came out from Redfin right now, 23% of ready, able, and good-to-go first-time homebuyers, |
... |
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