Housing Market Goes Full Buyers Market

In this episode, the host discusses the shift in the housing market towards a buyer's market, focusing on key indicators such as inventory levels and price changes. The discussion includes a detailed analysis of Manhattan's housing market, insights from Altos Research, and updates from notable figures like Jerome Powell and Barry Sternlicht. Listeners will gain a deeper understanding of the current housing market dynamics and what it means for buyers and sellers. [00:00] Introduction and overview of the topics including the JOLTS report, inventory updates from Altos Research, and insights from Jerome Powell's speech in Europe. [00:51] Discussion on Manhattan's housing market, highlighting the shift to a buyer's market with inventory levels above the ten-year average and 9.8 months of supply. [02:50] Analysis of average and median prices in Manhattan, showing a 3% decline in average prices and a 2% decline in median prices. [03:59] Examination of the luxury market in Manhattan, with inventory up 22% and prices down 11%, highlighting the bifurcated market dynamics. [05:38] Insight into the high percentage of cash transactions (62%) in Manhattan and the impact of this trend on the market. [07:02] Importance of understanding your buy box, inventory levels, and market trends to find and create great deals in the slowing market. [08:48] Upcoming events and sessions for the community, including live streams and special classes on creative financing and the economy. [10:16] Discussion on Altos Research data, indicating that new listing data has peaked and the impact of wish pricing on active inventory. [11:41] Analysis of a significant discount on an LA office tower, discussing the implications for lenders and the commercial real estate market. [13:09] Encouragement for home builders to construct smaller homes, with data showing a decrease in the size of newly constructed homes. [14:39] Insights from Jerome Powell's speech in Europe and its implications for future rate cuts, with a 70% chance of a cut in September. [17:14] Discussion on Barry Sternlicht selling a portfolio of multifamily properties to Brookfield for $1.6 billion, and what this indicates about the multifamily market. [19:18] Preview of the upcoming jobs reports, including the JOLTS report, ADP report, and the Bureau of Labor Statistics report, with insights into job market trends. Altos Research: Weekly data on housing market trends. Logan Mohtashami: Housing market insights. Bureau of Labor Statistics: Upcoming jobs report. Life Goal Investments: Find more insights from Taylor at https://lifegoalinvestments.com. These show notes provide a comprehensive overview of the episode, highlighting the main discussion points and offering easy access to mentioned resources. 📖 BUY One Rental at a Time https://amzn.to/3jt3JFx 📣 Audible Version Here https://amzn.to/3jtLDTQ OR 🏆 Buy 15 Conversations with Real Estate Millionaires https://amzn.to/3JwEsVm Dion from Dion Talk is Narrator!!! NOW ON AUDIBLE https://www.audible.com/pd/B0BDPSZW3Y/?source_code=AUDFPWS0223189MWT-BK-ACX0-322007&ref=acx_bty_BK_ACX0_322007_rh_us 📸 INSTAGRAM: Please follow. Daily original content! https://www.instagram.com/onerentalatatime/ 📬 (MUST JOIN!) PRIVATE Facebook Group: One Rental at a Time Works This is a VERY private group that is only available to my students of "How to Get Started One Rental at a Time" In the group, you will be around hundreds of other students all doing the work. Please introduce yourself when you join! JOIN HERE: https://bit.ly/3tEQhRm TEACHABLE COURSES: Join the THOUSANDS of students changing their financial future with DAILY execution! 💎 How to Get Started One Rental at a Time: This course is changing lives! Investors focus and do the daily work required to learn their market and only do GOOD Deals. JOIN HERE: https://bit.ly/3uDrkHq 💸 Get Money Right: This course is about making you the CFO of your money. It shows you how choices can keep you poor or set you free. It highlights your Financial Health Score and provides a monthly budget to help you track spending. JOIN HERE: https://bit.ly/3wbN9yr 📲 MENTORING OPTION: I built my courses to run without me but some folks find themselves in interesting situations and they want to ask questions directly. So after much thought I have created this option that includes one “30 Minute Mentoring” session that can be used at students request. JOIN HERE: https://bit.ly/3hivsc5 ✍️ FREE COURSE: I put together a Free Course so people can get to know me a little more and have fun getting started with no cost. JOIN HERE: https://bit.ly/3hdMbgK 📣AUDIOBOOK: https://amzn.to/3jtLDTQ PLEASE LEAVE 5 Stars! *** Tag me on IG with a book selfie! 🧢 MERCH: I have created some fun merchandise designed by my daughter. Check out Merch Page here: https://one-rental-at-a-time.myshopify.com/