Something Weird is Happening in the Housing Market
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 7 January 2025
⏱️ 50 minutes
🧾️ Download transcript
Summary
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Visit Ken's Bookstore: https://kenmcelroy.com/books
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Races are frozen and buyers aren't buying and sellers aren't lowering. |
| 0:08.7 | Yes, it's definitely frozen, as we all know. |
| 0:12.2 | The question is, how good is it going to be next year or how bad? |
| 0:15.1 | Well, there's going to be challenges that are going to affect the market next year, |
| 0:18.8 | and that's kind of what we want to talk about and how it is a weird housing market. |
| 0:23.4 | And depending on these factors, we'll determine kind of what happens next. |
| 0:27.6 | Right. |
| 0:27.9 | So let's jump right into unemployment because that's the big one that you kind of identified over the last couple of weeks. |
| 0:33.2 | We've been digging into this a little bit. |
| 0:34.6 | As we all know, the optics are 4.2%. We hit 50 year low a year ago, |
| 0:41.8 | but it's actually trending up. Yeah. And, you know, we were talking, I think, last week, about |
| 0:47.4 | underemployment too. So you don't just have an unemployment issue, but you also have an underemployment |
| 0:53.0 | issue. So basically, you know, as we start |
| 0:55.6 | to see the unemployment numbers, we also have to look at people that are taking jobs that are making |
| 1:00.6 | less money than they previously were earning, because along with inflation, that's going to really |
| 1:06.0 | start to affect what people can afford. Right. And there's a few things going on, right? We're going to tackle this. |
| 1:12.2 | But the one thing is inflation's hitting employment. And so on one hand, people are saying that |
| 1:18.8 | they're trying to reduce their costs. One of the biggest costs is labor. Labor's got up. But also, |
| 1:25.3 | we got AI automation. You got work from home, which last year was like 32%. |
| 1:30.6 | They're saying it actually is going to go up to 50%. |
| 1:35.8 | So that could be very, very interesting as well. |
| 1:38.7 | That's more like a part-time. |
... |
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