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Monday News You Can Use - 06.13.2022

coach donna stott coach mike stott federal reserve home prices housing market monday news you can use mortgage applications zillow report zillow stats Jun 13, 2022
So this Monday News is a bit different - focusing on the PulseEnomics/Zillow report just published last week. 
  • Sixty percent of housing experts polled by Zillow don’t believe the housing market is in a bubble, compared to 32% who do.
  • The panel expects to see a short recession by 2024 as the Federal Reserve works to tame inflation.
  • The panel raised home price growth forecasts for 2022 as demand stays strong
There are two charts that are critical in helping your clients make good decisions:

First Is when they economists predict the recession will occur Predictions start in the 3rd quarter of this year with most expecting before the 3rd quarter of next year.  Surprisingly 16% don’t expect it until after 2025.

The second chart (not from the report) Shows that recessions do not necessarily affect housing prices (the biggest downturn was in 2006 to 2011) the previous 4 recessions saw either price increases and or very slight decreases. 

More interesting is the chart that shows what these 114 economists predict for housing prices. 

The most pessimistic says over 9% increase for the next 4+ years.  Average of all of them is 26% increase- So this chart is great to share with buyers worried about “the imminent crash.” There isn’t going to be a big crash. Share this chart with everyone. 

As with all statistics remember that none of these experts predict 5.25% interest rates last winter - they all said 4.5% by the end of 2022.
Good article on Financial Advisors and Real Estate Investors - interesting our guy said buy real estate not stocks two months ago.

Lies, Damn lies, and Statistics
Benjamin Disraeli 

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Mike Stott
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International Coach Federation • Certified ACC