Why this works? You create a common villain to circle around.
Controversy sparks conversations
Conversations creates connection = community & clients
https://www.tiktok.com/@andrewbayon/video/7129914192680914222
This is what the news isn’t telling you about the Housing Correction…
But since home prices are based on supply and demand we can look at some of the core factors to see when home prices will move up or down to find out when home prices could drop.
But what the news isn’t answering is this 1 simple question, where will inventory come from?
So let’s answer that together by looking at the possibilities…
$11T in homeowner equity and strict lending standards mean homeowners are not under water
more context- The avg foreclosure takes 917 days to make it through the legal system.... And the avg homeowner has $185,000 in equity so home prices would have to drop over 36%... JUST to break even... So they would have to stop making payments and then take 2-3 years to get through the legal system
Builder sentiment dropped 12 points to 55, that marks the largest single-month drop in the survey’s 37-year history but so did building starts by 10%…
Builders are building slower & safer, but they’re already millions behind in inventory, equating to several years…
more context- The NAHB housing market index in the US extended losses for the seventh month running to hit 55 in July of 2022, the lowest reading since May of 2020 and compared to 67 in June and much lower than forecasts of 65. “Production bottlenecks, rising home building costs and high inflation are causing many builders to halt construction because the cost of land, construction, and financing exceeds the market value of the home.”
And despite inventory rising, there’s not that much more new listings hitting the market, we’re only increasing at 4%…