The Coming Rebound with David Stevens #212
The Brian Buffini Show
Brian Buffini
4.8 • 2.4K Ratings
🗓️ 28 April 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
“I think this is going to be one of the first industries to recover.” – David Stevens
In the present climate, there’s a lot of misinformation and uncertainty in the marketplace. In this episode, Brian interviews David Stevens, Chief Executive Officer at Mountain Lake Consulting, Inc., and former CEO and President of the Mortgage Bankers Association (MBA), to get clarity on current economic issues. Topics discussed include the tightening of minimum requirements for mortgage qualification, when banks and other financial institutions will begin to readjust their credit parameters back and advice for both buyers and sellers in today’s market.
YOU WILL LEARN:
- Why this crisis is so different than the last recession.
- Why the real estate industry will recover quickly.
- Why Millennials are at the core of a rebound.
MENTIONED IN THIS EPISODE:
Episode 203, A Home for the Brave – an Interview with Dr. Ben Carson and Brian D. Montgomery
Episode 211, Take This to the Bank – an Interview with Michael DeVito
INSPIRATIONAL QUOTES FROM THIS EPISODE:
“Governors across the country are going to start having us go back to work sometime in June at the latest, May in some states. And all this downward trend is going to stop in its tracks. We're going to see an immediate pop back. It won't be back to where it was. But we're going to see immediate pop back.” – David Stevens
“This nation, we have great demographics for housing. We're going to have record low interest rates when we come out of this.” – David Stevens
“If there are any house price downturns during this period, it's going to be very minor. And that's because the US didn't have the inventory.” – David Stevens
“I think both listing and purchase buyers are going to see some sort of immediate response because pent-up demand is occurring, and the only overlay that will cause resistance there will be the unemployment factor.” – David Stevens
“The bottom line is, all economics is supply and demand. And we still have a limited supply and high demand.” – Brian Buffini
“Homeownership is a wealth creator for this country and for Americans.” – David Stevens
“Worry the most when things are best.” – David Stevens
“I'm just looking at what economists are giving me. And I think, you know, we're going to have a great housing market ahead.” – David Stevens
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Transcript
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| 0:00.0 | At the London School of Economics and Political Science, we create leaders with a global vision. |
| 0:05.7 | A vision to create a better world, where a profound understanding of management drives positive change in business and society. |
| 0:13.7 | That's why we ranked third in the world for social sciences and management, |
| 0:17.9 | making us the perfect place to propel your career in business. |
| 0:21.6 | So why wait? |
| 0:23.0 | Search LSE Department of Management today to learn more about our world class degrees. |
| 0:30.0 | Welcome to the Brian Bafini show, where we explore the mindsets, motivation and methodologies of success. |
| 0:55.0 | My name is David Lallie, I'm the producer of the show, and I know we may be in challenging times, |
| 1:00.9 | but that's just why we've been working on shows to keep us upbeat and focused on the good stuff. |
| 1:06.7 | Let's listen in. |
| 1:07.9 | Well, the top of the morning, Tia, and welcome to the Brian Bafini show. |
| 1:24.9 | You know, one of the amazing parts of this COVID-19 situation is I've had a chance to talk and reconnect with people that I haven't talked to in a long time. |
| 1:33.9 | I don't know if you guys have had that same experience. |
| 1:35.9 | Today is no different, and I've got a great honor of having David Stevens on the phone with us today. |
| 1:42.1 | Now, David and I know each other over more than 20 years. |
| 1:45.2 | David was the chief operating officer at Long and Foster, a great real estate company. |
| 1:49.9 | Dave went on to do great things. |
| 1:51.5 | He became the assistant secretary for housing and urban development. |
| 1:55.8 | We had been Carson on a couple of weeks ago. |
| 1:58.1 | Here we have Dave Stevens, who was over that, as well as FHA, and then as the commissioner. |
| 2:04.6 | And then for the last number of years, Dave, you've been the president and CEO of Maritus now of the Mortgage Bankers Association. |
| 2:11.6 | We really want to dive into this because there's so much misinformation about mortgages today. |
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