[Music]
Hello everyone and Welcome to another
episode of Selling Greenville your
favorite real estate podcast here in
Greenville South Carolina I'm your host
as always Stan McCune I'm a realtor right
here in the Greenville area and you can
find all of my contact information in
the show notes if you need to reach out
to me for any of your real estate needs
if you're looking for a buyer agent
listing agent or just want to talk about
real estate just let me know all my
contact information is right there in
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please leave a five-star rating and just
type up a short little review I just
appreciate if you guys could do that
that just supports the show I have a
very targeted audience here so every s
single review every single rating goes
really really far because we only get a
few hundred hits on the show per
week because of of how targeted my
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you guys leaves this show a rating or
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really means a lot for me so I would
appreciate that this past week oh and
by by the way I should before I even get
into this I think my voice is going
to hold up for this this but I was at a
Christian concert singalong event
last night and I've got I I feel like my
voice is pretty much shot it's
holding up pretty well at the moment
hopefully it will hold up for the rest
of this but it was not in good shape
last night following the concert that
was a blast by the way if any
of y'all are into Christian music we
have a lot of Greenville is known for
having just massive churches we just
have huge churches everywhere I was
up in the Blue Ridge area of Greer
over the weekend and I passed by you
know just randomly another just church
that looked like a college campus like
they're just everywhere but anyway we
have we have plenty of of interesting
you know Christian concerts that
happened here in fact the the people I
was sitting around were from Alabama
and the Coastal Carolina region and
there were people from Canada that were
there it was just it was insane to me
cuz I drove 10 minutes to it and I
didn't even realize it didn't even occur
to me there' be people coming from like
out of state to see that that
event but it was a it was a lot of fun
but it did take a toll on my voice so
I I apologize for that I'm going to do
my best here but last week I attended
a an annual event that we have here in
Greenville this is the first time I've
gone to it but it is a housing market
forecast and it's it's really geared
towards homebuilders in the Greenville
area and it's performed by I believe
his name is John Hunt he is over at
Market insight and they are really a
a a firm designed to help home
builders kind of figure out what to do
next they're really analyzing the market
for a long time now they have a great
track record of anticipating Trends and
seeing what's going to happen happen
in the future kind of before anyone else
is able to and they do this housing
market
forecast I believe every year here in
Greenville I've heard of it for for the
past several years and basically they're
just looking at okay what happened the
past year what do we think is going to
happen the next year and how does that
affect real estate particularly from the
standpoint of home builders but this
event was open up to Realtors as well
and so there's a lot of good information
for those of us just in real estate
generally not merely those that are
homebuilders so I I jotted down
several notes I found it very
interesting and I found a lot of helpful
things from it and I just kind of wanted
to open the notebook for you guys for
what they what we talked about and just
kind of what stood out to me in general
so first things first a lot obviously a
ton of what we talked about was
inventory related right because
everything in the market is about supply
and demand in real estate we call Supply
inventory and so that was a massive
topic of discussion because inventory
obviously went insanely low during the
pandemic it has come back up and so
there's a lot of like okay where is it
now and where's it going and we've
talked about this a lot on this show but
it was interesting to hear it from an
Outsiders perspective because this is a
person who is studying Greenville and
was delivering data about Greenville but
he is not in Greenville he's not in this
market right those of us in this market
our perceptions can kind of be skewed by
what we're seeing anecdotally whereas
someone outside of this Market just
looking at the data his opinion is not
going to be skewed so he was simply
saying what the data said didn't matter
to him you know what we were
experiencing as Realtors or what we feel
like we're experiencing as Realtors or
home builders here's what the data says
and what the data said on inventory is
it's still very very low less than three
months of inventory no matter how you
slice it or dice it less than 3 months
of inventory throughout the entire state
of South Carolina and of course
in Greenville and as we've talked
about before we typically consider 6
months of inventory to kind of be that
line between a buyer and a seller's
market that's that's where we see kind
of a flat market now I did say I
believe it was my last podcast that
maybe we need to rethink buyer
Behavior with regard to months of
inventory because it seems like buyers
are now shifting their Behavior to
inventory being a lot less but them
treating it like it's a lot more it
feels when 3 months of inventory feels
like a ton of inventory when we've had
two straight years of less than two
months of inventory I don't know I
don't know what to say about that 6
months of inventory right now like if we
went to to that I don't think it would
feel like a flat Market I think it would
feel very much like a massive buyer
Market because of how dramatic the shift
is but maybe as we ease into a a
higher
inventory type of of framework for
lack of a better
word as we ease into it maybe buyer
behaviors will kind of return back to
the norm I don't know like I said in my
last podcast it's hard to to really know
if we're going if we're just entering a
new normal or if we're going to see
things somewhat return back to a
pre-pandemic norm right now I'm
operating under the assumption that we
are experiencing a new normal
nonetheless even within that new normal
framework we still have very low
inventory and regardless of buyer
Behavior we need more more inventory for
the demand and and and so there are
kind of two things to look at right how
this all feels because that's an
important detail right when I'm working
with Buyers like how do they feel how do
how do sellers feel like that actually
that's not really quantifiable right
but it's a very important detail because
if sellers feel pressured then they're
going to do certain things if buyers
feel feel pressured they're going to do
certain things if nobody feels pressured
then that impacts Behavior so we have to
look at that but then we also just have
to look at the sheer data of supply and
demand and what does that tell us and
from a housing
perspective looking at it just from the
data not looking at it from these
anecdotal how people feel John Hunt
let me double check to make sure that's
the that's the guy's correct name
one second here I need to pull up this
chart that he sent me yes John Hunt
with via search and Market Insight
John said when when you're looking at
this data there is no question inventory
is low having less than 3 months of
inventory it is low really it needs to
be for for people to feel like there is
enough housing there needs to be six
months of inventory and I will say
from this there is a very clear
standpoint where I think that all buyers
would agree with this even if like I
said there is kind of this weird element
of buyers treating this Market a little
bit more like it's a buyer Market than
it is but here's where it's definitely
not a buyer's market there's just not a
whole lot of choices out there if you're
a buyer right now where you feel the low
inventory is that okay I'm looking for
such and so house and it doesn't exist
it's just not out there that's the
problem and there's just not a whole lot
of homes coming for sale maybe you're
treating it like a buyer's market but
you're not actually seeing the
fundamentals of the market being a
buyer's market which is when it's a
buyer Market there are tons of options
available you can choose from you know
for an example when I was looking for
a house during the Great Recession
every single weekend my wife and I would
go out and look at houses
and we would have up to 10 houses to
look at every single weekend like that
is insane imagine those of you that are
you know thinking about buying or or
in the process of looking at houses or
whatever the case may be imagine if
there were 10 eligible homes per weekend
that you could look at that are just on
the market that's that's what a buyer
market look looks like nobody has seen
anything like that in in a decade
basically but well over a decade at the
this point m so what we need is
something in between those two extremes
and that would be basically getting to
six months of inventory if we did
that overnight that would be a System
Shock and we would really like I said it
would really feel like a buyer Market
even though there wouldn't be the full
options of a standard buyer Market
but right now I feel like we're in a
good place where where we're
inventory has gone up enough to give
buyers some more options but hasn't
gone quite to the extreme where where
people just are flooded with options
sellers don't know what to do because
there's way more competition than there
was before and so where we are
right now I think is a good spot
although what John Hunt did
indicate is that you will we we're going
to continue to see low levels of
inventory for a a long time and I I've
told you guys this multiple times
because we're all looking at the same
data here there's a lot of reasons to
believe inventory is going to stay low
for some time it's highly unlikely that
we'll reach that point of six months
inventory I just I just don't see how
that could happen barring some kind of a
major major global economic event and
so we're at we're at less than three
months of inventory I'm sure we'll get
above 3 months at some point but at the
moment it's looking like it's kind of
plateauing
and that was what that was what John
Hunt with Market Insight saw as well
from his perspective now one thing
that he pointed out that I thought was
helpful because I always was curious
about this because I look at that there
are numbers about housing data that the
government issues the the US government
will issue and frequently I actually had
someone that I respect on on
social media one time when I said about
inventory levels being you know really
low that they need to go above 6
months of inventory to be a buyer Market
he posted a graph that showed that was a
US Government graph that showed
inventory levels were above 9 months and
I've seen these before as well and it it
never made sense because I'd be seeing
one graph published from one publication
that said 2 and 1/2 months of inventory
and then the US government saying that
we're at 9 months of inventory like
what's going on there well John
explained it very succinctly and that's
that the government includes a lot of
a lot of homes in their inventory
numbers that not that aren't actually
homes yet specifically homes or or
permitted but not started homes in
other words when home builders have
gotten permits to to start a home but
haven't actually started a home yet
those are included in the government's
numbers and that's a really bad thing
to include in inventory numbers because
that's not actual inventory and home
builders will sometimes get those
permits and sit on those permits and not
start building for a very very long time
so if you see numbers out there that
say that that there's N9 months of
inventory it's probably that data that's
including a bunch of homes that
aren't actually homes yet inventory
that's not actual inventory it's like if
you went into a grocery store trying to
get eggs right now and we all know that
there's an egg shortage at the moment
I'm recording this in January
2023 you go into a grocery store and
they're out of eggs and you double
check with someone there like hey I just
want to make sure you guys have are out
of eggs cuz I don't see any and they say
oh yeah we have eggs and you're like
okay well where they're like well
they're in the chickens like we have
chickens that are going to lay eggs
and so we have eggs and it's like okay
but I can't buy them no no no you you
can't buy them yet because they're still
in the chickens the chickens haven't
laid them yet that's not having
eggs available right but that's what
the that's essentially what the US
government is doing when it's
calculating these inventory numbers it's
it's counting the eggs that are still
inside the chickens okay so that
aside here's some more takeaways that
I took from this housing market forecast
we talked about the the fact that
Investments during an election year
really slow down people for whatever
reason people slow down well we know the
reason people slow down their investment
behavior and this includes real estate
Investments right before an election
so this particularly happens during
October November of an election year but
here's the funny thing basically what
people are doing is they're kind of
feeling out the waters they're not sure
what's going to happen they want to kind
of have a sense of what's happening in
the US government before they you
know use their hard-earned money to make
investments but it doesn't ever
change consumer Behavior or investment
Behavior after the election and so it's
almost like people just want to make
sure okay there's not going to be
something absolutely insane that happens
and as long as nothing absolutely insane
happens during you know an election
then they just go back to their normal
behavior and basically I I mean I
don't know what it would take for people
to not go back to their normal behavior
but it would probably have to be you
know basically us electing you know some
kind of insane like Neo-Nazi for
president or something like that some
people might make the claim that we've
done that in the past I'm not even going
to get into that okay let's not even go
down that road but long story short
during an election year and and it might
not feel like it because it wasn't a
presidential election but this past year
was an election year and I mean we're
now at the point where just about every
year feels like an election year but
the the fall numbers for Real Estate did
appear to go down as a result of it
being in an election year and this is
not something that I've really talked
about very much so far this year but
I have discussed a few other reasons
why we saw
why we've seen a Slowdown this fall
but basically it's a three-headed
monster we saw the normal seasonal
drop in both supply and demand that
happens all the time in the fall and
winter combined with the election
season that also suppressed particularly
buyer demand particularly
investment
demand and then all of that combined
with higher mortgage rats also coming
together and completing the three-headed
monsters so all of these things resulted
in things just slowing down
dramatically the past 3 months so it'll
be interesting to see you know it it
feels like all of those things have
bottomed out right we're out of the
election year so we're we shouldn't be
experiencing any more after effects from
that we're starting we'll be starting
as we get into like late February early
March we're going to start ramping up
into the busy season
of real estate and then a lot of
indicators and and since I last recorded
this podcast there's been more
indicators with people major people
in the FED saying that they think rates
need to come back down or at least that
that there needs to be no more rate
increases that for the first time really
in a in several months now we're
starting to see and and there's
disagreement it's not completely
agreed upon among fed officials
but we finally started to see
people major people in the FED saying
you know what maybe we've done enough in
terms of rate hiking and now it's time
to kind of slow down or maybe dial those
rates back a little bit so those as
you as you know as we've talked about
that has an indirect effect on mortgage
rates and so as the FED in theory
slows down their rate in increases or
perhaps even decreases their rates
then we'll see mortgage rates go down
and so all of these things would
indicate that that we've kind of
already seen the bottom again barring
some kind of major recession and a minor
recession I don't think will have a
dramatic impact on the real estate
market I could see a major recession
having having a big impact so we'll
just have to see in my b predictions
podcast I did a few weeks ago I
predicted a mild recession I don't think
it's going to have a Major Impact
overall but I've been wrong before we'll
just have to see um with regard to
mortgage rates this was a number that I
found very interesting and very helpful
um Market Insight predicted that the
more the average mortgage rate that
disproportionately impacts by our
behavior is once we get above
5.25% in other words
below
5.25% doesn't you don't see a dramatic
swing in buyer Behavior you don't see a
dramatic swing of people looking to
purchase real estate that are you know
just dropping out of the market but once
you get above 5.25% you see a bunch of
buyers dropping out of the market now
they can no longer afford real estate
and he didn't get into the nuts and
bolts as why it's 5.25% I I'm sure that
there's a variety of things in there
and and a variety of things that are
causing that specific number to be what
it is but I found that very helpful
so I'm going to be tracking these
mortgage rates now I I already do but
but tracking them to see if they go
below
5.25% how that really impacts real
estate are we going to all of a sudden
see a massive influx of buyers coming to
the market if you know at some point
this year we see rates go down below
that number he also talked about
and and I thought that that this was
good I already knew this but it was
the way he framed it was really helpful
you're going to see a lot of news
articles in the upcoming months and you
probably already have saying that
prices have gone down 25% or 30% things
like this and these are very
disingenuous and and honestly they're
intended to deceive articles it's
clickbait at the end of the day prices
have not gone down 30% prices are not
likely to go down 30% what these
articles are talking about is the rate
of growth slowing down so if you see so
for instance if we had you know prices
slowed down from a 20% year on-year
growth to a only a 5% year on-year
price growth appreciate price
appreciation that is a and and and you
take the the percent differences that's
what a 75% slowdown I I don't even know
that that that's I'd have to Google
exactly how to determine the percent
slowdown between 2% but you would see
articles let's just say for the sake of
argument that that's a 75% slowdown
that's not saying that prices have gone
down 75% they still went up 5% but in
comparison to the year before when they
went up 20% year on- year that is a 75%
or whatever it is slow down and so those
are the types of articles that you're
seeing and I've had people tell me oh
my buddy who's a realtor told me that
prices are going to go down 40% this
year well your buddy who's a realtor has
taken Hook Line and Sinker the
clickbait that's out there it is very
very unlikely that prices are going to
go down that much is it impossible no
nothing's
impossible but even during the Great
Recession we didn't see prices go down
like that like that would be we're
talking about like an asteroid hitting
hitting the US and like wiping out
half the population that's what it would
take for prices to actually go down 40%
in my my personal opinion so don't
take that clickbait understand that
what we're seeing right now I'm not
saying prices won't go down year on-year
and as I talked about I believe last
week there have been even normal
months where prices have gone down year
on-ear just in a standard month just
kind of a fluky month where we saw that
happen but when you look at year
on-ear in the long Trend it always
continues to go up in a normal year and
that's what all indicators are that
we're going to see that happen in 2023
now what is a normal year this was this
was an interesting one as well going
back I believe it was 47 years the
normal rate of appreciation for a home
is 4
6% file that away in your mind that'll
be helpful I'm I'm definitely going to
be referring back to that number at some
point in the future because that was a
number i' I'd never heard before it was
extremely helpful and it it really gives
you a sense okay if I'm investing in
real estate what can I expect you can
expect
4.6% appreciation now that's not the
only thing when you're investing in real
estate that you get right if you have
rental properties you get also
potenti if you do it right you get cash
flow and if you talk to your
accountant probably some some
opportunities to write some things off
on taxes as well and so U so the
appreciation at 4.6% if you're a real
estate investor is just of gravy on
top of everything else but 4.6%
that's the
normal and so what John did was he
then took that number and then kind of
tried to figure out okay what does this
being for like what's happened in real
estate the past several years right
because we've seen like some a couple of
years in a row now where we've seen like
15 to 20% appreciation in the Greenville
market and that seems scary right you
and I'm sure you've seen articles out
there saying oh we're in a housing
bubble Pro I'm sure you've seen your
friends on social media oh we're we're
definitely in a housing bubble there's
no way things prices you know can't
possibly go up 20% year on year it
doesn't work that way and he
specifically referenced that he saw a
lot of Articles basically comparing
the market now to what it was in like
201122 well
201122 prices were insanely cheap
because we had just come out of the
Great Recession and so you know these
kids that are writing these articles
trying to compare the market now to then
they
simply they don't know what they're
doing they're not comparing correct
data and so he said well well when was
the market last normal he made the
argument that the last time we had a
normal Market was 2002 and the reason he
felt that way was that after 2002 we
started to actually
see the housing bubble begin due to
you know poor lending practices and all
sorts of different things that caused
then the market to really start to see
insane appreciation that it should not
have seen it was artificially bloated
appreciation and so so the market
between 2003 and 2007 Went Crazy Prices
skyrocketed in artificial ways and so
2002 was the last quote unquote normal
year so basically 20 years ago then we
saw prices Skyrocket and then the Great
Recession happened the bubble burst and
then prices went way way way way down
right in in comparison to where they had
been and so obviously since then
prices have been gradually going up and
then we we see this Spike here in the
past couple of years now here's what's
interesting when you go back to 2002 and
you add
46% appreciation to every year let's say
you you just assume 4.6% appreciation
starting in 2002 and going through 2022
you basically get to the number that we
landed at in terms of median prices at
the end of
2022 so his argument was that actually
what's happened the past couple years
with prices all of the sudden
skyrocketing in this post you know in
this pandemic or post-pandemic
environment was actually a proper
correction that would happened right
before the Great Recession that was an
artificial increase of value and then
when when prices went down when
demand and everything dramatically
slowed during the Great Recession that
was like an artificial
overcorrection and now here we are back
where we should have been if we hadn't
had all of these ups and downs over all
of these years here we are in 2023
seeing prices where they would have been
had we just had the market continue at
that normal
4.6% rate now is he right I have no idea
but it's a very interesting idea it's
it's definitely Food For Thought and
I don't know we we'll see he's got a
very good track record for being right
when it comes to this kind of Stu stuff
so I think he he deserves the benefit of
the doubt but that is there is your
argument there that is the most
compelling argument that I've seen
from just a standard rate of
appreciation standpoint that we are not
in some sort of a bubble and
there's fundamentals behind this it
might all sound theoretical but there
is actual there are true fundamentals
behind why why
we can believe that that is an accurate
statement that we're not in a bubble
that that that demand and prices are
where they should be and that's really
because the past three years Millennials
My Generation have really come of age
from a home buying perspective and
then you also have the boomer generation
which is sitting on the largest
stockpile of cash in the history of the
US the baby boomer generation has more
cash than any generation that this
country has ever seen and they are
buying up a lot of real estate so we
have and and this was also very
interesting there was a there's a Common
Thread between Millennials and Baby
Boomers that we haven't really seen
before and that is both of
them on average do not have children the
baby boomer children have already left
and my generation is either not
having children or waiting until you
know late 30s or maybe even early 40s
before having children and so this is
what is really driving the real estate
market right now is that you've got
these two generations that both have
a a good bit of money Baby Boomers
because they've accured it over all
these years and now are empty nesters
Millennials because they aren't
having children so they've been saving
up their money for all these years and
now having dual income households and
all of these sorts of things and so the
market is really being driven by
these two generations and of course I
wanted to ask I never got around to it
what's going on with Gen X right now
I I actually heard a podcast a couple
of years ago that Gen X actually and
and had I had you know an opportunity I
I would have discussed this with John it
just didn't work out but and and I
actually mentioned this on my P podcast
after I heard this a couple years ago
but that there's actually a phenomenon
where gent extr a lot of them never
bought their first house for a until the
pandemic because of so much hesitancy
after the Great Recession they went
through that Great Recession Gen X got
destroyed by the Great Recession so they
saw their their net worth go down
disproportionately and then they they
in theory developed the skepticism
towards housing that led them to get
into the cycle of renting for a long
time and then the pandemic happened the
pandemic did not wipe out housing and so
all of the sudden these sleepy gen xers
which was what the podcast that I had to
listen to which by the way if you want
to if you want to know what podcast it
is it's called Odd Lots it's a very good
podcast just kind of on the economy in
general but it also talks about
housing occasionally but they called
them sleepy gen xers
that hadn't bought their first house
until you know like their 40s and now
they finally enter the market during the
pandemic so I think that I think maybe
JN actually underestimated the impact of
Gen X he basically said that they
weren't having any impact or he he
didn't say that but he kind of implied
that but I think that that's another
reason why the housing market has been
where it is with all of this demand
there's pent up demand that got
Unleashed during the pandemic and it's
not going away because baby boomers are
still going to be buying houses I mean I
have several baby boomer clients that
are buying investment properties in
addition to relocating in addition to
buying vacation homes and then you've
got Millennials doing some similar
things as well and then you got these
sleepy gen xers also that are becoming
aggressive now with housing and and
real estate purchases now that they
realize that it they're not just going
to see a a housing bubble burst every 10
years and so the fundamentals are there
for for the demand continuing to be
strong here in the future but when it
comes to supply when it comes to
inventory we have a we have a problem
right and he got into this towards
the end of of one of his sessions that I
was at where he talked about one of the
major problems with the our inventory
shortage is that it's fueled by zoning
laws and I've actually talked about this
quite a bit on this podcast at
various times but he really got into
the concept of the missing middle if
you want to Google that and look that up
be my guest I'm not going to get into
that too much in detail here but he
approached it from the angle of zoning
laws are really preventing the kind of
highdensity housing
or more like mid density housing that
used to be a big part of of the the
nation's real estate fabric 40 50 years
ago and specifically it was Town Homes
duplexes triplexes and quadruplexes what
we're seeing right now is a lot of
single family homes being built well not
a lot but we're seeing single family
homes being built and
apartments
and apartments aren't for every everyone
not everyone wants to wants to have an
apartment lifestyle and from a single
family standpoint with prices going up
not everyone can afford a single family
detached house and so what and so this
is the missing middle this more higher
high density but not as high as
apartment living where you've got
multiple units attached to each other
that people can buy or or people can
rent and zoning laws have made it very
very difficult for Builders to build
these types of homes and so that is
simply driving the inventory shortage
and he mentioned you know what a lot of
people don't realize and this is true to
this day is that zoning laws inherently
have racist Roots okay and he referenced
Atlanta used to have basically two types
of zoning the city of Atlanta which is a
kind of a cousin City to Greenville a
lot of what happen happens in Atlanta
happens in
Greenville Atlanta used to have
basically two zoning classifications
R1 and R2 R1 was white you could live
here if you were white and R2 was black
you could live there if you were black
that was when Atlanta first introduced
zoning that was the basis point that was
how they started well eventually the
court said sorry we can't do that you
can't discriminate on the you know in in
your zoning on the basis of race and so
then Atlanta said okay so then we're
just going to make R1 single family
detached homes and R2 apartments and so
well guess what R1 th those single
family homes were the more expensive
ones R2 the apartments they were the
cheaper ones and knowing you know what
that racial income disparity was in
Atlanta they were basically keeping the
status quote they were basically saying
okay in these neighborhoods that are
black we're only going to allow
apartments in these neighborhoods that
are white we're only going to allow
single family homes and so
zoning was a bad bill of goods from the
get-go a terrible
idea I I shouldn't say that zoning
itself is a terrible idea but when it
was instituted on on a racial footing
yes terrible idea and right now it's
being weaponized in different ways that
honestly if you go to the the the
Grassroots of it I think that there's a
lot of racial underpinnings with a lot
of the zoning laws that are being
passed today and I and we're paying for
it to this day at the at the end of the
day that is something that we have to to
Grapple with and that we have to to
deal with that is a problem when we have
inventory problems and we don't have
enough Supply to meet the demand and
municipalities are passing increased
zoning laws to prevent this type of
middle housing duplexes and triplexes
and town homes and things like that that
would help to bring more affordable
housing to people in the middle
that's a problem like we need to really
rethink this whole zoning thing in
General and that was a big point that he
made that I thought was really timely
and I thought was really helpful and
Greenville right now we have a lot of
what some of you might know as nimbyism
nimi stands for not in my backyard a
lot of people they don't want
developments happening in their backyard
they don't want to see you know the land
that their neighbor you know owns a mile
down the street sold to a developer
cleared out in a big subdivision they
don't want that to happen but the
reality is that sometimes sometimes
we need to take the the big picture on
this right do you want your children to
be able to afford a home before they
turn 45 or not right now I'm
concerned that without my own
intervention without me having
to majorly financially assist my
children that the way the things are
going that there is just no way that you
know I I afforded a home in my early 20s
my first home was in my early 20s that
was a huge huge thing for me I would not
be where I am financially today if I
wasn't able to purchase a home in my
early 20s I don't see any way that my
children's generation will be able to do
that without financial assistance
from their
parents and probably what's going to
happen is that the government will kick
in the government will be like well you
know what we've got to take control of
this and then and we've all seen how
that goes it's just going to be another
social program that will then cause
it increases in inflation etc etc we we
know where this ends up and so that's
why the zoning part of it is important
and that's why when you go to those
Town Halls tempted to oppose a new
development that's going in near where
you live maybe take a step back and
think about it think about you know what
is is it worth it for me to oppose this
or would this actually be better for the
area and for upcoming Generations if we
have more housing in this area from a
data standpoint absolutely from a meta
standpoint absolutely for you personally
I can't speak to that but I do think
we need to take into stronger
consideration these meta
considerations and and as well of course
the history of what we've done in this
country how we've used zoning to
suppress certain people groups and
that's still happening to this day so
not to end on a negative note but
that that's pretty much all I have in
my notebook from the housing market
forecast and I hope that that was
helpful a lot of very interesting things
for me hopefully that was interesting to
you guys if you have any questions let
me know my contact information is in the
show notes please subscribe rate and
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again next time
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