Ep. 150 - Why The Housing Crash Won’t Happen

Thinking about buying a home in 2024? In part one of this two part lending update, Quinton and Daniel dive into the latest trends in home prices, affordability, and mortgage rates. Despite widespread predictions of a housing crash, appreciation rates continued to climb in 2023. Will this trend continue? CoreLogic's forecasts and the potential impact of the upcoming election year on the market are focal points of this episode. They also highlight a new down payment assistance program in Jacksonville and explore the challenges faced by Gen Z and Millennial buyers. Watch this episode for insights and analysis to help you navigate the ever-changing housing market.

[00:00 - 02:43] - Introduction

[02:44 - 03:42] - Property tax issues in Texas

[03:43 - 05:50] - CoreLogic's forecasting

[05:51 - 07:28] - Underestimating appreciation

[07:29 - 09:15] - Election year impact on home sales

[09:16 - 13:34] - New down payment assistance program

[13:35 - 14:50] - Affordability issues 

[14:51 - 17:14] - Paying points?

[17:15 - 19:47] - Borrower psychology around rates

[19:48 - 22:20] - FHA loans vs conventional loans

[22:21 - 24:27] - Closing segment

Lending Update:
https://bit.ly/Lendingupdate2024

Key Quote:

"Supply, demand. There's not enough supply. That's not getting better." - Quinton Harris

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