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133: Where America’s Most Accurate Forecaster Sees Home Prices in 2024 w/Doug Duncan

133: Where America’s Most Accurate Forecaster Sees Home Prices in 2024 w/Doug Duncan

FromOn The Market


133: Where America’s Most Accurate Forecaster Sees Home Prices in 2024 w/Doug Duncan

FromOn The Market

ratings:
Length:
29 minutes
Released:
Aug 21, 2023
Format:
Podcast episode

Description

Housing affordability has reached lows that most Americans never knew existed. After home prices had an unprecedented multi-year run-up and mortgage rates got hiked, the average home buyer was out of luck. They couldn’t afford a house, and even if they could, the chances of getting one were slim to none when no inventory existed. Many now hold on to a hope that affordability could be around the corner, but this isn’t looking likely, at least not according to the most accurate forecasters in the country. 
Doug Duncan, SVP and Chief Economist at Fannie Mae doesn’t just do the standard housing market forecast models. His team at Fannie Mae has come up with the most accurate predictions of the housing market to date through a combination of judgment, market sentiment, and math. Today, Doug is on the show to give his data-backed take on home prices, mortgage rates, and the affordability crisis. 
There is some good news for homeowners and not-so-good news for home buyers, but Doug brings some solid advice for those still struggling to buy a home, plus a forecast of when things could finally turn around. If you want to know whether a recession is still in the cards, what home prices will do, and when affordability will reach equilibrium, tune in!
In This Episode We Cover:
A 2024 home price forecast that most didn’t think was possible 
Housing affordability and why we may not see relief for YEARS to come
Recession watch and whether or not we’re in the economic clear 
Data modeling and why you CAN’T just rely on the math for your housing market predictions 
Advice to first-time home buyers and what you MUST have before you try to buy 
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Grab Fannie Mae’s Forecast
Housing Market Affordability Has Crossed a Concerning Threshold in the U.S
Connect with Doug:
Fannie Mae
Doug's LinkedIn

Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-133
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Released:
Aug 21, 2023
Format:
Podcast episode

Titles in the series (100)

The modern real estate investor doesn’t have time to research every headline and trend. That’s why BiggerPockets' Dave Meyer and his expert panel do it for you. Learn how to invest smarter in today’s economic environment.