62 min listen
176: With Home Equity at an All-Time High, Will Homeowners “Lock-In” Even More? w/Molly Boesel
FromOn The Market
176: With Home Equity at an All-Time High, Will Homeowners “Lock-In” Even More? w/Molly Boesel
FromOn The Market
ratings:
Length:
29 minutes
Released:
Jan 8, 2024
Format:
Podcast episode
Description
Home equity just hit an all-time high for Americans. And while this is great for homeowners, what effects could this have on the housing market? Will house hoarding become a new trend as homeowners “lock in” with their rock-bottom mortgage rates? Will those who are equity-rich take their profits and move to cheaper markets, causing prices to skyrocket as they bid higher than local buyers can? Molly Boesel, Principal Economist at CoreLogic, is on to answer these questions and more!
CoreLogic’s latest Homeowner Equity Insights report has a clear takeaway: Americans are equity rich—really equity rich. On average, American homeowners have hundreds of thousands of dollars sitting in home equity, with some of the priciest housing markets having millions! This is causing a new type of investor, the “accidental investor,” that could keep housing supply locked up.
Molly gives her take on why so many homeowners are refusing to sell, whether or not mortgage rates will fall substantially next year, when refinancing will finally start to rise again, and if foreclosure risk is even a relevant worry in today’s rock-solid economy.
In This Episode We Cover
Latest homeowner equity numbers that put owners and sellers in an even better position
The most and least home-equity-rich housing markets in America
Foreclosure risk and how “negative equity” completely flipped since the Great Recession
The rise of “accidental investors” who are keeping more housing supply to themselves
Molly’s strong mortgage rate prediction and where she thinks rates will be by the end of this year
Whether or not equity could explode once again as buyers get back into the market
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-176
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
CoreLogic’s latest Homeowner Equity Insights report has a clear takeaway: Americans are equity rich—really equity rich. On average, American homeowners have hundreds of thousands of dollars sitting in home equity, with some of the priciest housing markets having millions! This is causing a new type of investor, the “accidental investor,” that could keep housing supply locked up.
Molly gives her take on why so many homeowners are refusing to sell, whether or not mortgage rates will fall substantially next year, when refinancing will finally start to rise again, and if foreclosure risk is even a relevant worry in today’s rock-solid economy.
In This Episode We Cover
Latest homeowner equity numbers that put owners and sellers in an even better position
The most and least home-equity-rich housing markets in America
Foreclosure risk and how “negative equity” completely flipped since the Great Recession
The rise of “accidental investors” who are keeping more housing supply to themselves
Molly’s strong mortgage rate prediction and where she thinks rates will be by the end of this year
Whether or not equity could explode once again as buyers get back into the market
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/on-the-market-176
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.
Learn more about your ad choices. Visit megaphone.fm/adchoices
Released:
Jan 8, 2024
Format:
Podcast episode
Titles in the series (100)
6: The Not-So-Scary Way to Start Buying Real Estate in 2022: Maybe you wanted to know how to invest in real estate back in early 2020. You took some time to educate yourself by listening to podcasts and reading books. Then you went and got preapproved, found yourself an agent, and were ready to start hitting the pavement, searching for your first real estate deal. While you were on your hunt for profitable houses, the world started to shut down. Everyone was forced inside, the real estate market locked up, and you thought “maybe I should wait this one out.” Now, it’s 2022, and the housing market is arguably the most competitive it has been in decades. You missed your shot, right? Now you can never invest in real estate…or so you think. Dave Meyer, On The Market Host and VP of Data and Analytics at BiggerPockets, is here with Henry Washington, Jamil Damji, and Kathy Fettke to argue that you should still be investing in real estate. Even with rising interest rates, high home prices, and by On The Market