Hello fellow Rebel capitals hope you're well so we've got some new Intel on the housing market that I think is very very interesting.

These are actually when you look at the data it helps you look at the housing market through a completely

different lens. In fact I hadn't thought of this prior so when they started discussing this

on cn't B.C. i immediately wanted to do a video because

i think it sheds light on what could cause prices to go down or what is potentially

currently causing prices to go down in aggregate total even though it isn't showing up in the actual statistics.

It's like everything else the devil is in the details. Check this out. Let's get right over to see and

We're gonna play a couple of clips and then we're going to discuss connect some dots and go to some charts.

So the first clip, I want to play about a minute here.

This is when this gal, Diane Ollick, which is actually one of the few people I really, really

like at CFCC.

I like her, I like the car guy they

never Pat Leboe or something whatever his name is but it seems like they're very objective

just give you the information there's no political spin or anything. But let's

listen to what she is saying about the dynamics within the low supply we're seeing

and they're measuring supply by how many months of inventory is

currently on the market and they're comparing that with the GFC.

Well good morning Joe yeah we're in a housing market now unlike any other and that's due to economic forces unlike any other.

The foreclosure crisis, the great recession, the pandemic and the unprecedented quick cut and then quick spike in mortgage rates.

So take a look at supply of both newly built and existing homes together for sale.

It shot up during the 2005 housing boom and the ensuing foreclosure crisis which of course flooded the market with homes.

So home building essentially ground to a halt. By 2012 new homes were just 6% of all supply. Then total supply dropped even more in the

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