Headlines: Redfin Sees a “Brighter” Homebuying Season Coming, Will It Happen?

On The Market

BiggerPockets

Investing, Education, Business, News

4.8 • 859 Ratings

🗓️ 3 October 2024

⏱️ 37 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mortgage rates are finally falling, and Redfin is predicting a “brighter” housing market. Who’s leading the charge in new homebuyers? Surprisingly, the generation nobody expected—Gen Z. How are they doing it, and why are their homeownership rates so much higher than Millennials and Gen Xers at the same age? We’re digging into it and sharing our forecasts of what the coming housing market will look like. But to understand where we’re headed, we have to peak inside the personal finances of Americans. In this episode, we’re breaking down the average American’s wallet, how much money they have, their credit card debt, and whether they’ll be able to weather the financial storm of rising costs coming at them. How can Americans cope with higher insurance, taxes, and home prices? Why is Redfin so optimistic about the 2025 spring homebuying market? And what are we seeing right now in our own markets in terms of buyer demand? Have lower mortgage rates finally crossed the threshold where Americans feel comfortable buying a house? We’ll touch on all of today’s latest headlines in this show! In This Episode We Cover How Gen Z became the leading young homeowner generation Lower rates, but still struggling affordability and the real solution to our housing problem Optimistic news from Redfin about the 2025 spring housing market and the big JUMP in mortgage applications The average American’s personal finances and whether they’ll be able to eat the cost of recent inflation The downfall of work-from-home and why more Americans may be moving (and buying houses) soon And So Much More! Links from the Show Join the Future of Real Estate Investing with Fundrise Join BiggerPockets for FREE Find Investor-Friendly Lenders See Dave at BPCON2024 in Cancun! Dave's BiggerPockets Profile Henry's BiggerPockets Profile James' BiggerPockets Profile Kathy's BiggerPockets Profile Gen Z Is Dominating Their Parents in Homeownership—According to New Report America’s home affordability crisis has a solution. Lower rates isn’t it Redfin ramping up, sees a brighter spring ahead The State of America’s Wallet How Gen Z outpaces past generations in the homeownership race Grab Dave’s Newest Book, “Start with Strategy” Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-257 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	We have finally got lower mortgage rates, but is that actually going to help America's housing affordability problem?
0:07.2	What's the state of the average Americans wallet right now?
0:10.6	And how does Gen Z stack up to previous generations in terms of homeownership?
0:14.9	The answer for that one actually might surprise you.
0:22.2	Hey, everyone, it's Dave Meyer, and this is on the market.
0:25.3	And today, we're bringing you the headlines.
0:27.9	We've got my friend James Dainard, Kathy Fecky, and Henry Washington, all here to join us
0:34.5	to discuss the latest real estate news and what it means for each of our
0:39.0	portfolios.
0:39.9	Henry, how you been, man?
0:40.9	I've been fantastic, man.
0:42.0	How are you?
0:43.0	I'm tired to be honest.
0:47.4	I am in Seattle right now and had dinner with James last night, but I'm not used to these 7 a.m. recordings. I'm used to
0:56.6	11 p.m. recording. So this is a, I'm a little thrown off. So if this episode sucks, it's my fault.
1:05.7	Kathy, how are you doing? I'm good. I'm used to these 7 a.m. ones. Yeah, you're bright and chipper, and I appreciate it.
1:13.9	Thank you. And James, what's going on? Not much. I'm still waking up, too. We and Dave were out a little
1:18.9	bit later. All of a sudden, we're like, oh, we got an early rise. We got to get out of here.
1:22.3	We shut down this steak restaurant, not because we were, drinking and getting rowdy. We were just hanging out.
1:28.9	Because they close at 10? Yes. I mean, it closed at like 10, 15 and we were by far the last
1:34.9	people there. We weren't really wild now. We were nerd and out. We were talking about numbers and
1:40.0	passive income. Wild spreadsheet talk took us late into the night.
	...

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