62 min listen
217: Economic Pessimism Peaks, So Why Are Investors Still Buying?
FromOn The Market
ratings:
Length:
38 minutes
Released:
May 16, 2024
Format:
Podcast episode
Description
The unemployment rate begins to rise as job growth slows in the latest jobs report, prompting many to wonder, “Will this finally lead to interest rate cuts?” With so many investors waiting and hoping for rates to fall, this metric may point to exactly what the Fed is looking for. But while waiting for rate cuts, investors could miss out on a huge opportunity to buy at discounted prices. If you’re sitting on the sidelines, you could be making a big mistake. What do we mean? We’re getting into it all in this headlines show!
We’ve got four economic news stories to discuss today, ranging from Redfin’s $9.25 million settlement as part of the agent commission lawsuits to new jobs report numbers and what Americans really think about the economy. First, we’ll touch on Redfin news as the discount brokerage settles in what seems to be the never-ending NAR lawsuit. Next, Americans think now is the worst time to buy a house. Do we disagree? Not really! But, we do believe it could get even worse very soon for those who don’t buy before it’s too late.
Next, we’ll review the latest jobs numbers, from rising unemployment to slowing growth, and whether this will prompt the Fed to finally cut rates. Lastly, we’ll hit on consumer sentiment and America’s growing economic pessimism. With so many Americans living in financial fear, why aren’t we seeing a drop-off in travel and consumer spending? If you’re listening to this episode on a plane to Europe with your designer bag and $500 headphones, we’re talking about you! Stick around as we break down the top economic headlines and their impacts on the housing market.
In This Episode We Cover
The latest agent commission settlement and the huge payout from Redfin
Is now the worst time to buy a house, and what happens if home prices keep rising?
The one type of real estate that may see a serious uptick in demand over the next few years
New jobs report numbers and whether this could finally prompt the Fed to lower rates
Consumer sentiment and the extremely confusing economic pessimism we’re seeing now
Why you DON’T have to wait for rates to drop to get your next real estate deal
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
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Property Manager Finder
Grab Dave’s Rent vs. Buy vs. House Hack Calculator
Articles from This Episode:
Redfin
Worst Time to Buy
Jobs Report
Consumer Sentiment
Buy or Rent?
Jump to topic:
(00:00) Intro
(01:13) Redfin Settles in Commission Lawsuit
(06:03) Worst Time to Buy a House?
(16:25) Job Growth Slows, Will Rates Drop?
(27:47) Economic Pessimism Peaks
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-217
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
We’ve got four economic news stories to discuss today, ranging from Redfin’s $9.25 million settlement as part of the agent commission lawsuits to new jobs report numbers and what Americans really think about the economy. First, we’ll touch on Redfin news as the discount brokerage settles in what seems to be the never-ending NAR lawsuit. Next, Americans think now is the worst time to buy a house. Do we disagree? Not really! But, we do believe it could get even worse very soon for those who don’t buy before it’s too late.
Next, we’ll review the latest jobs numbers, from rising unemployment to slowing growth, and whether this will prompt the Fed to finally cut rates. Lastly, we’ll hit on consumer sentiment and America’s growing economic pessimism. With so many Americans living in financial fear, why aren’t we seeing a drop-off in travel and consumer spending? If you’re listening to this episode on a plane to Europe with your designer bag and $500 headphones, we’re talking about you! Stick around as we break down the top economic headlines and their impacts on the housing market.
In This Episode We Cover
The latest agent commission settlement and the huge payout from Redfin
Is now the worst time to buy a house, and what happens if home prices keep rising?
The one type of real estate that may see a serious uptick in demand over the next few years
New jobs report numbers and whether this could finally prompt the Fed to lower rates
Consumer sentiment and the extremely confusing economic pessimism we’re seeing now
Why you DON’T have to wait for rates to drop to get your next real estate deal
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
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Property Manager Finder
Grab Dave’s Rent vs. Buy vs. House Hack Calculator
Articles from This Episode:
Redfin
Worst Time to Buy
Jobs Report
Consumer Sentiment
Buy or Rent?
Jump to topic:
(00:00) Intro
(01:13) Redfin Settles in Commission Lawsuit
(06:03) Worst Time to Buy a House?
(16:25) Job Growth Slows, Will Rates Drop?
(27:47) Economic Pessimism Peaks
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-217
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:
May 16, 2024
Format:
Podcast episode
Titles in the series (100)
7: The Economic “Power Shift” Happening in 2022: Gas prices, unemployment rates, and home sales have been headlining topics for the past two years. Every other day we’re hearing about a record surge in a certain type of asset, leaving many investors wondering when this market madness will come to an end. To help us understand a bit more about the economic indicators affecting our daily lives, we invited Planet Money and The Indicator’s Stacey Vanek Smith on the show.Stacey has an enormous presence in the economic podcasting world and has helped pioneer some of the most-listened-to content about what drives and divides our economy. Today, she talks to Dave Meyer and Kathy Fettke about the most important economic indicators that investors should watch out for. Thankfully, she brings news not just about interest rates and inflation—Stacey has some genuinely positive news about the post-pandemic economic recovery. One of the key topics of this show is how work-from-home and remote lifestyl by On The Market