Are We Heading for a Housing Crash in 2022?

Afford Anything

Paula Pant | Cumulus Podcast Network

Entrepreneurship, Business, Investing

4.6 • 3.4K Ratings

🗓️ 11 October 2021

⏱️ 63 minutes

🔗️ Recording | iTunes | RSS

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Summary

#343: The real estate market in 2021 has been bonkers. That’s the technical term. From 2012 to 2020, home prices nationwide rose at an annualized average of 5.8 percent per year. From April 2020 to April 2021, home prices climbed 17.2 percent. This sudden surge in prices has many homeowners and would-be investors fearful of a crash. The memories of the stark price run-up prior to The Great Recession are all too salient. What goes up must come down, right? Not exactly. In this episode, we walk through market fundamentals — discussing housing supply, lumber prices, and the distinction between cheap credit vs easy credit — to illustrate how today’s market is unlike anything we’ve ever seen. More importantly, we offer tips for everyone —whether you’re a renter looking to get into your starter home, an empty-nester looking to downsize, an owner-occupant who wants to lock in your gains, or a curious aspiring investor who wonders if it’s too late. Enjoy! For more information, visit the show notes at https://affordanything.com/episode343 Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	You can afford anything, you just can't afford everything.
0:11.6	Every choice that you make is a trade-off against something else, and that doesn't just
0:15.4	apply to your money, that applies to any limited resource that you need to manage.
0:21.0	It applies to how you budget your time, where you direct your energy.
0:25.0	It applies to the select few things that you can focus on, and to the people, events,
0:30.2	and ideas that capture your attention.
0:32.9	In all of these domains, pursuing one direction comes at the cost of all other opportunities.
0:39.6	Time, focus, attention, and energy, like money, are scarce resources.
0:44.2	And that opens up two questions.
0:46.6	First, what matters most?
0:49.2	Sounds like an easy question on the surface, but it takes a lifetime to learn and iterate
0:54.4	the answer.
0:55.4	So that's the first question.
0:56.6	The second question is, how do you align that which matters most with your actions?
1:02.7	How do you align it with your decision-making?
1:05.6	That's the real challenge, and that is what this podcast is here to explore and facilitate.
1:10.9	My name is Paula Pai, I'm the host of the Afford Anything Podcast.
1:14.6	In today's episode, we're going to talk about one of the biggest spending decisions in
1:18.5	your life, which is housing.
1:21.8	Today's episode, we're going to cover the housing market, and we will aim this episode
1:26.5	at both owner occupants, meaning you buy a home for yourself to live in for your personal
1:31.8	consumption, as well as real estate investors or aspiring real estate investors.
	...

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