The Housing Markets is CRASHING in Some Cities—Is Yours Next?
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 27 November 2024
⏱️ 42 minutes
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Summary
Ken and Danille McElroy discuss how the real estate market isn’t one-size-fits-all, and recent trends highlight just how different local markets can be. From skyrocketing insurance costs in Florida and Texas to high mortgage rates nationwide, we break down what’s really happening in the housing market and what it means for buyers, sellers, and investors.
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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.
Ken's company: https://mccompanies.com
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Transcript
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| 0:00.0 | Is the real estate market crashing? |
| 0:02.6 | Is it booming? |
| 0:04.0 | Is it neutral? |
| 0:05.9 | Well, it kind of just depends on where you look. |
| 0:07.8 | I know. |
| 0:08.3 | If you guys are trying to figure this out on the internet, you're probably as confused as everyone. |
| 0:14.4 | Because depending on who you're listening to, you're seeing there's a lot of listings in some areas and prices are falling and in other |
| 0:22.1 | areas it's booming and there's all kinds of deals so we're going to dive in here in this segment |
| 0:27.9 | right now because denille specifically denial did a lot of work on this over the week did well you know |
| 0:34.6 | we always say on this real estate channel real estate's. Like when you listen to certain YouTube people or you watch the news or you listen to a podcast, they want you to make it think it's national. It's either all crashing. It's all booming. It's all, you know, and that's just not the case. You know, it's more what's happening in your backyard. |
| 0:54.5 | So you have to look at your area that you're looking to invest in or buy a home in to know what your market is doing. |
| 1:02.0 | But also, before we jump into that, I want to just talk about what everybody perceives as a crash. |
| 1:07.4 | Like if you guys could maybe send that in, let's take a look because I think everybody's |
| 1:13.0 | definition of what a crash is is different. Right. So if you own an Airbnb and you don't have |
| 1:19.3 | anybody renting it, you might think you're in a crash, you know, but it might not be that market |
| 1:24.9 | might not be. It might just be Airbnb. If you're a lender and you're not getting paid, that could be your definition of a crash. |
| 1:32.4 | So, you know, what is yours, Danielle? |
| 1:35.5 | I think that for my definition of a crash would be prices that are lowering very quickly. |
| 1:42.2 | And we are actually seeing that in some area of the country. |
| 1:46.2 | And you almost have like people panicking and then listing their house in order to salvage any |
| 1:53.4 | equity that they have. |
| 1:54.5 | Correct. |
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