421: Local Real Estate Market Data Report, Altos Research with Mike Simonsen

Jason Hartman and Mike Simonsen from Altos Research discuss toxic low interest rates and their dysfunctional effect on the overall economy. Will these low rates lead to a further housing shortage? They also take a deep dive into local housing market data from Ocala and Jacksonville, Florida, and look at home price reductions, days on market and supply vs demand data using the Altos Market Action Index.

Links to the videos- Part 1 HERE; Part 2 HERE

Key Takeaways:

• Institutional investors in the real estate market
• Cheap rates are getting cheaper
• New inventory = new construction
• California Proposition 13 and property taxes
• How high can the lack of housing inventory push prices?
• Millennials are in their peak earning and buying years
• Percentage of homes on the market taking a price reduction
• Go to Altosresearch.com to see local market reports
• "Days on market" peak frenzy 2021 data
• Local market data for Ocala, Florida using the Market Action Index which looks at supply vs demand
• Altos Research data covers every market in the country in price range segments
• Market data for Jacksonville, Florida
• Market predictions for 2022: bubble territory and market crash?
• The importance of housing to the GDP
• Real estate is much cheaper than we thought
• Who can afford to buy houses right now? Who is driving the market?
• Mike Simonsen, founder of Altos Research, gives his take on where this market is going. Are we are we overvalued on the verge of a crash?
• Altos Research tracks every home for sale in the country
• Alto Research shows you the difference between understanding the market and understanding a specific property
• The conflict between the listing agent and the seller
• Data shows a seller's market
• Inventory levels are extremely low

 

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