718: BiggerNews: The State of Real Estate in 2023 and 3 Ways to Beat a Bear Market
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 24 January 2023
⏱️ 63 minutes
🧾️ Download transcript
Summary
Most 2023 housing market predictions sound like this, “The sky is falling! Sell everything! Houses will be worth $1 next year! This is just like 2008!” Look at the track record of those who shill predictions like this. These are the same forecasters who have been predicting a crash will happen at some point over the last ten years. Now, with a whiff of fear in the air, mainstream real estate journalists will do anything they can to convince you we’re having a repeat of 2008. However, this is far from the truth.
But how could we forecast the 2023 housing market without data? And where there’s data, there’s Dave Meyer, VP of Data and Analytics at BiggerPockets and host of the On the Market podcast. Dave and his team have recently released “The 2023 State of Real Estate Investing Report,” which gives all the housing market data you need to invest successfully in 2023. In it, Dave shares how the 2022 housing market flipped once the Fed raised rates, how supply and demand have been affected, and what we can expect for 2023.
Dave will also go over the three investing strategies he feels are more appropriate for investing in 2023, including a completely passive way to invest, a cash flow and appreciation combo, and how buyers can take advantage of this market to get deals at a steep discount. While we can’t predict the future, we can give you our best insight into what you can do to build wealth in 2023. So turn off the mainstream fear forecasting and tune into real news designed to make you richer!
In This Episode We Cover:
Why 2023 is not a “normal” housing market and the details leading up to today’s state
The “levers” that affect home prices and why 2023 is NOT the same as 2008
Seller’s vs. buyer’s markets and where prices are most expected to dip
Homebuyer demand and how unaffordability has caused most buyers to sit on their hands
Mortgage rate increases and how the Fed is using high rates to combat inflation
The three strategies that work in today’s housing market and how to invest while others sit on the sidelines
2023 housing market predictions and when we could potentially see home prices bottom
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Books Mentioned in this Episode
Real Estate by the Numbers by J Scott and Dave Meyer
Real Estate Note Investing by Dave Van Horn
Connect with Dave:
“On The Market” YouTube Channel
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-718
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Transcript
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| 0:00.0 | This is the Bigger Pockets Podcast. |
| 0:02.0 | Show 718. |
| 0:04.0 | If you're in a market where wages are not going up, |
| 0:07.0 | there is just a psychological limit to what people are going to pay for rent. |
| 0:11.0 | And you know, it can only be X percentage. |
| 0:14.0 | Usually it's like 30% of their income can go for rent. |
| 0:17.0 | And so I totally agree that in a hybrid or an appreciating city, |
| 0:21.0 | rent growth will go up. |
| 0:23.0 | I don't know if that necessarily needs to ever reach the cash flow |
| 0:26.0 | that these cash flowing cities tend to support. |
| 0:29.0 | But personally, I think that that's the better bet. |
| 0:33.0 | Because you're not betting on just cash flow or just appreciation |
| 0:36.0 | or just rent growth. |
| 0:38.0 | You're getting a little bit of everything. |
| 0:40.0 | And you don't know which of the three might perform the best. |
| 0:42.0 | But whatever happens, you should have benefited. |
| 0:44.0 | What's going on everyone? |
| 0:46.0 | This is David Green, your host of the Bigger Pockets Real Estate Podcast. |
| 0:48.0 | Here today with one of my favorite co-hosts, |
| 0:51.0 | none other than Bigger Pockets own VP of Analytics, Dave Meyer, |
| 0:56.0 | with a fantastic show for you. First off, Dave, how are you today? |
| 1:00.0 | I'm doing great. I had a real fun time recording this episode. |
... |
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