349: Rent vs. Price Relationship, House Prices 1963-Present
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 14 June 2021
⏱️ 40 minutes
🧾️ Download transcript
Summary
Learn the housing price level every year from 1963 to present with an entertaining retrospective - from $18K to $372K.
Top takeaways over time: 1) Real estate usually goes up. 2) Real estate does not always go up.
Housing rents and prices often correct toward each other.
Home prices are rising globally. The highest: Turkey, New Zealand, Luxembourg, and Slovakia. Some of the lower rises are in East Asia.
Canadians can hardly believe that Americans get 30-year fixed rate mortgages, 1031 Like-Kind Exchange.
Redfin CEO Glenn Kelman believes that high housing demand is cooling off and the market is normalizing.
Building a home has never been more expensive.
I cover a case study for you about how new-build Boise single-family ranch homes had a sale price increase of $472K up to $747K over the last two years.
Your tenant is probably doing better this year than last. Unemployment is down to 5.8%.
Rent amounts are more stable than home prices.
I draw the line. Current rent vs. own dividing lines are 0.7% RV ratio and $250K purchase price.
You can still find decent $100K - $150K properties in: Memphis, Little Rock, Cincinnati and Dayton.
Resources mentioned:
Median New House Prices (Census, HUD):
https://fred.stlouisfed.org/series/MSPUS
Bloomberg: Global Home Price Rise:
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Transcript
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| 0:00.0 | Welcome to GRE. I'm your host Keith Weinhold. It's you and I on this journey today as I take you through an entertaining historic American housing price timeline. It's a retrospective on what the median home price was every single year from 1963 until today. You're going to learn some lessons here, then learn about the relationship between rents |
| 0:21.7 | and housing prices today on Get Rich Education. |
| 0:28.1 | The people that our listeners can't stop talking about are Ridge Lending Group and MLS 42056. |
| 0:34.1 | They provided GRE listeners with more loans than anyone, and it's where I got my last few loans. |
| 0:39.6 | They financed single-family income property up to four plexes. |
| 0:43.0 | They're the number one lender for beginners and veterans. |
| 0:45.9 | Start your pre-qualification, chat with President Chaley Ridge personally, and get your custom plan for expanding your cash flowing portfolio. |
| 0:57.2 | Start at ridglinggroup.com. |
| 1:04.3 | A lot of investors choose either cash flow or home price appreciation, but one real estate market could provide both Jacksonville, Florida. With 27% lower home prices than the national median |
| 1:10.4 | and 1% higher rents, their market has |
| 1:12.8 | appreciated 34% more than other comparable cash flow markets over the last 30 years. Get |
| 1:18.7 | positive cash flow today and appreciation for tomorrow. They often have available inventory |
| 1:24.9 | in Jacksonville. Start at cashflow and growth.com. |
| 1:32.5 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:39.9 | This is Get Rich Education. |
| 2:01.9 | Thank you. This is Get Rich Education. Welcome to GRE from San Antonio, California, and across 180 nations worldwide. |
| 2:03.3 | I'm Keith Weinhold. |
| 2:04.6 | This is Get Residication. |
| 2:08.7 | We're going to explore the relationship between rents and housing prices later. |
| 2:16.7 | But first, our retrospective is a timeline on the median sale price of new houses sold in the United States. |
| 2:20.5 | Let's begin in 1963 because that's when the sources, |
| 2:27.5 | the census and HUD here, began tracking it on our timeline. By the end of 1963, the house price was $18,000. And I'm just running off to the nearest thousand each time here. |
... |
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