Welcome to passive real estate investing. I'm your host, Marco Santarelli. You know, will Rogers once said, don't wait to buy real estate, buy real estate and wait.

You know, there's a lot of truth to that because all markets, both economic and real estate cycle up and down over time. When the housing market crashed back in 2008 it led to one of the worst economic periods since the Great Depression. And we often refer to this period as the great recession. The economy has not just recovered from that period, but today it has steadily grown each and every year since that crash. And over the last decade or so after the great recession, unemployment is now at its lowest in the last 50 years according to government statistics, wages are rising at a faster rate and consumers continue to spend more and more, which all fuels the economy as a whole. So paying attention to housing market trends can serve you well as a real estate investor.

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And that's what we're going to learn more about today with my great guest Daren Bloomquist. All right, it's my pleasure to welcome Daren Bloomquist to the show. Daren is the new vice president and market economist at Auction.com the nation's largest online real estate transaction marketplace focused on the sale of bank owned and foreclosure properties. Now recently Daren served as the vice president at ATTOM where he was widely recognized as an authority in the housing and mortgage industries. Today at Auction.com he is focused on analyzing and forecasting complex economic trends within the marketplace and within the industry. And what I love about Daren is he loves data and he's a super smart guy.

So Daren and welcome to the show.

Thank you for having me Marco. It's great to be here.

Well I'm glad you're on the show. I've been actually wanting to get you on for a couple of years. And that's just my, uh, my fault for not getting you on sooner. Cause I remember following you when you were back at Adam. Um, and just all the articles and data that you pulled in and you just put out so much great content and I thought it would be brilliant for our audience to listen to and learn more about. But here we are today, so we have you on the show. Tell us a little bit more about yourself and your background, Erin.

Sure. I'm, I've been here six months at auction.com approximately a little bit more and that came from Adam data solutions where I spent 17 years, believe it or not, a previous, uh, it went through several iterations prior to being named Adam data solutions. It was realty track, which folks may be familiar with. Really, I've been a part of an exciting ride getting to see the evolution of what I would call the marketplace for real estate investors. And realty track was a first form of that with putting foreclosure properties out there publicly that that used to be very kind of hidden for folks. And that was one step in the direction of kind of democratizing, I would say real estate investing. And we've seen that since the last housing crash. And then this last recovery, I think one of the big storylines has been how real estate investors have helped the market recover I think and stepped in enabled by technology and tools and data that have helped, um, democratize the process and allow someone in California where I live to be buying properties in Alabama or wherever and those investors stepping in and different formats, um, has really created a floor for the housing market after the recode or after the bust and has helped rebalance.

It's the marketplace from one that is was way too homeownership driven to...