121: Michigan Housing Supply TANKED!

Michigan Housing Supply TANKED! - It doesn’t matter where you are in the country right now, the common hardship home buyers and even renters are facing right now is there’s just nothing to buy or rent. And with mortgage rates as high as they are along with the price tags on the home, it’s hard to justify a compromise. Several sources have analyzed that The U.S housing market is short 6.5 million homes, as new household formations increased dramatically since the height of the pandemic. The questions are, how is this effecting homebuyers, what will the future hold for Michigan real estate, and is buying a home in the next year or so worth it? Stick around, because all those questions and more will be answered. Why is the housing market like this, why is the competition so high, why is everything so unaffordable?, what is going on with inventory? All these questions come back to housing supply, or the amount of homes that are for sale on the market. To fully understand this situation, we need to rewind 15 or so years and see where we went wrong. Andrew McManamon is a licensed real estate professional in the great state of Michigan. Andrew truly believes that education is KEY when it comes to anything real estate. This audio experience podcast was created to help YOU get educated about the real estate industry and get valuable insight about the areas in which Andrew covers. If you have any questions about living in Michigan, please don't hesitate to reach out! Call, text or email anytime! Andrew McManamon Real Estate Professional Signature Sotheby's International Realty. SCHEDULE A PHONE CONSULTATION 📞 →https://www.mihomesbyandrew.com/schedule-call-consultation →YouTube Channel: https://bit.ly/2LoYJV3 →Weekly Newsletter: https://bit.ly/3cfB4zI