604: BiggerNews May: What the Media Isn't Telling You About a “Housing Crash”

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 3 May 2022

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

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Summary

It’s a housing market crash! It’s a housing market bubble! It’s a relatively normal and stable housing market! Two of these statements might make you excited, anxious, or hopeful, while one simply makes you yawn. For years, we’ve heard numerous news outlets, forecasters, and housing authorities tell us that the next housing crash is right around the corner, only for home prices to skyrocket, interest rates to rise, and demand to stay red-hot. If you want to know if a housing market crash is coming, Rick Sharga, Executive Vice President at ATTOM, a leading provider of nationwide property data, is the person to talk to. His entire job is based on finding and figuring out the data behind housing market movements, which he then presents to field leaders who are trying to make better buying, selling, and lending decisions. Rick is an industry vet and was around during the mid-2000s housing market crash, the great recession, the foreclosure crisis, and everything that followed. Rick has seen the runup in housing prices over the past two years and has some interesting theories as to where we’re headed next. Whether you think we’re in for smooth sailing or on the cusp of another crash, Rick’s predictions may surprise you. In This Episode We Cover: Why competition has recently fallen and whether or not this is permanent for the housing market The difference between 2022’s housing market and the 2007/2008 housing market Whether or not raising interest rates has affected hot housing markets If we’re entering bubble territory and how to tell the real estate market is going south Which real estate markets are primed for a correction in 2023 (and beyond) How to get ahead of the foreclosure auctions in a “high equity” housing market And So Much More! Links from the show ATTOM Data Solutions On The Market Podcast Redfin Zillow Fannie Mae Wallstreet Journal Weatlh Track Federal Housing Administration (FHA) Blackstone RealtyTrac Youtube Tiktok Dave Meyer's Instagram @thedatadeli BiggerPockets Youtube David Greene's Instagram @davidgreene24 David Greene Real Estate (Youtube) Rick's LinkedIn Rick's Twitter @ricksharga Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-603 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast show six zero four.
0:04.9	There's really no indicator that we're sitting in a bubble.
0:08.7	Although it's understandable.
0:10.4	People think that because we've had I believe 122 consecutive months now where
0:15.3	home prices were higher than they were the prior year, which is I believe the
0:19.1	longest run in history.
0:21.2	So I do think market corrections could happen across the country in certain markets,
0:26.2	certain price tiers.
0:27.2	Do I think we're going to have a bubble bursting?
0:30.7	No, but the truth of the matter is nobody really knows we're in a bubble until
0:34.2	it bursts.
0:42.3	What's going on everyone?
0:43.1	I am David Green your host of the bigger pockets real estate podcasts, the best
0:47.2	real estate podcasts in the world here at bigger pockets.
0:50.2	We are committed to helping you find financial freedom through real estate.
0:53.9	And we do that in a number of ways, one of which is on this podcast bringing in
0:58.3	people who have found that freedom.
1:00.2	People who have made mistakes as well as industry experts, they can help you on
1:04.0	that journey.
1:05.0	Today's guest is fantastic.
1:07.0	We have Rick Sharga, Rick is the exact vice president of market intelligence
1:11.3	for Adam, a market leading provider of real estate and property data, including
	...

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