Housing Market LOCKED for YEARS.

Are you curious about why the housing market is expected to remain tight for the foreseeable future? In this video, we dive deep into the phenomenon known as the mortgage rate lock-in effect and how it, coupled with historically low housing inventory, is shaping the market for years to come.
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The information provided in this video is for educational purposes only and should not be construed as financial or legal advice. Always consult with a professional before making any financial decisions.
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[@mikefiles8616]

I agree with you 100% that the lock-in effect will last for at least 6-8 years. Those of us who have a 2.25 rate and on a fixed income, are happy to remain in our current situation!

[@JoeRealtor]

Exactly. Major life events could still lead to people in that position needing to sell, but voluntary moves are not going to happen.

[@mikefiles8616]

No housing market crash here in Macon GA. Probably not one nationwide either, due to lock in effect. Housing prices keep going up in this country, and would not be increasing IF everyone had stopped buying!

[@JoeRealtor]

Lock in effect is very real!

[@raulcaballero9851]

South Pasadena. Sellers market.

[@JoeRealtor]

Not surprising! Pasadena and the surrounding area tends to be very desirable. And, as you saw on the later portion of the stream, the chart that I used to show inventory demonstrates why the LA area (as well as most of the major cities on both East and West costs) still has a competitive market.

[@mikefiles8616]

Think it is the Dallas Metro area in TX.

[@oasistobe]

You cited BoA as if they are reliable predictors of housing downturns. How’d they do at predicting 2008? It was folks like Reventure doing on the ground research that predicted that one before it all collapsed, but I doubt you were in the market at that time.

[@JoeRealtor]

Only a small handful of people predicted 2008. It's not a surprise many banks got it wrong (hence so many went away, including huge institutions like Washington Mutual). Reventure has only been around since 2019...as far as I can see. Nick with Reventure was probably in middle school when 2008 hit...so I beg to differ that he somehow predicted that correctly. And, if we are operating on his track record of predictions, he said the housing market crashed back in 2022 (along with "calling it" a few other times, which were incorrect). If I'm going to go off data, I'm going off the source that has been around a long time and is a pillar on that industry (like BofA) as opposed to some small outlet that has been around 5 years, mainly predicting things incorrectly. Thanks for watching and commenting!

[@oasistobe]

@@JoeRealtor It’s the small handful of people you are currently blowing off in favor of the ones who will say “nobody could have seen this coming”.

[@JoeRealtor]

@@oasistobe I'm not blowing anyone off...the simple fact is no one actually knows what will happen. And blanket statements of "a real estate crash" are useless plus no one notices when predictions go missed, but everyone loves to hoan in when they are finally right (even if you went 0/10 for the previous 5 years). Like I said in my stream, inventory still continues to be an issue on the coasts. And, if you watched the stream you'll see I actually DID agree with Nick when it came to Pandemic Boomtowns in TX and Florida.

[@homersimpson1226]

Dude who are you Nostradamus you are talking out your A$$

[@JoeRealtor]

Nope, I'm definitely not Nostradamus. I'd love to know what part of this video makes you think I'm "talking out of my ass"?