47 - Is This A Housing Bubble Ready To Burst?
How to Buy a Home: The #1 First Time Home Buyer Podcast
David Sidoni
4.8 • 891 Ratings
🗓️ 13 August 2021
⏱️ 65 minutes
🧾️ Download transcript
Summary
Are we in a housing bubble and is the bubble about to burst? While some are panicking, others are denying the collapse is coming, but where is the market really going? In this episode, David Sidoni takes a look at the data and tries to flesh out what is happening. We look at what causes a bubble and David also analyzes the factors that can influence the market. Listen in for a thought-provoking discussion on the market and the possibility of a bubble.
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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 | If you're buying a home because you fear a big housing bubble, either you're pretty smart or you're just a little bit ignorant. |
| 0:07.9 | But according to the data, you're both wrong. |
| 0:26.6 | Welcome to the What's up everybody? I'm David Sedone. |
| 0:28.9 | This is the How to Buy Home Podcast. |
| 0:34.6 | It's your source for real information on the often elusive how-toes when you're trying to do, I don't know, the biggest thing you ever tried to do in your |
| 0:37.6 | life, buying your first home. All right, let's rock it. Let's get right near this hot topic. Google |
| 0:42.5 | searches for the question, is this a housing bubble? It's up 2,450%. That's a lot of percent. |
| 0:51.0 | The internet is just going nuts with this. Now, some of you guys out there, you're asking me |
| 0:54.5 | questions yourselves. The question I hear most of the time from you guys, because you've already |
| 0:58.8 | passed this whole bubble stuff, you're asking me, how much over a listing price should I offer? |
| 1:03.8 | Well, hang on. That's going to be my next podcast. Today, we're talking to everybody that wants |
| 1:08.7 | to know everything about the housing bubble. Prices are going up like crazy. I mean, we're talking to everybody that wants to know everything about the housing bubble. |
| 1:13.2 | Prices are going up like crazy. |
| 1:14.9 | I mean, we're talking 19%. I put that up on my Instagram the other day, and that blew up because nobody realized that. |
| 1:19.5 | Over the last 12 months, and in some places, we're actually up 25%. |
| 1:23.6 | Now, if you compare that to the historical average where the housing prices increase at about 4% a year, |
| 1:30.3 | and that's including all the ups and downs, then that means we're going through a nutso appreciation right now, |
| 1:36.9 | skyrocketing. |
| 1:38.2 | And get this, from April to May in 2021, just 30 days. |
| 1:44.1 | We saw appreciation increases from 2.1% to 3.7% depending on where |
| 1:49.8 | you were in the country. Now, it doesn't sound like a lot, but think about it. The average is 4% |
| 1:53.9 | for a year. And in some places we're going up 2.1 or 3.7, that's just in one month. So the |
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