Ep. 172 - 5 Reasons Why The Housing Market Won’t Crash in 2024

In this episode, Quinton Harris and Daniel Halvorsen dive deep into the realities of the current housing market, addressing common fears and misconceptions about a potential crash. With a combined 45 years of industry experience and over 10,000 closed loans between them, Quinton and Daniel present five compelling reasons why a housing bust is unlikely. They discuss the historical rarity of housing market crashes, the current lack of inventory, the market's resilience in the face of elevated interest rates, key differences from the 2008 crisis, and the strong equity positions of today's homeowners. Watch this episode an insightful, data-driven discussion that will leave you with a clearer understanding of the housing market's true state and outlook.

[00:00 - 03:05] - Introduction and market misconceptions

[03:06 - 07:56] - Reasons why a housing crash is unlikely

[07:57 - 11:33] - Affordability issues and discouragement among buyers

[11:34 - 15:06] - Florida's Hometown Heroes program for first-time homebuyers

[15:07 - 17:57] - Strategies for homebuyers and the lock-in effect

[17:58 - 21:58] - Options for homeowners looking to buy another property

[21:59 - 25:14] - Recasting mortgages and temporary buydowns

[25:15 - 28:59] - Anticipating interest rate cuts and their impact

Key Quote:

“There's nothing that would indicate that's [a housing bust] going to happen.” - Daniel Halvorsen

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