2021 housing was BANANAS. So what the hell is gonna happen in 2022? If you’re a first time home buyer, you have to know what’s in store for you this year! Listen for a recap from the smartest minds in real estate regurgitated for you by David Sidoni. This is over an hour of REAL DATA and not just opinions and guesses. Take advantage of these data so that you can make the best decisions for you and your family in 2022.
2022 Housing Market Forecast For First Time Home Buyers
Predictions And Prognostications For The Housing Market In 2022
2021 was bananas for real estate. What does that mean for 2022? What does that mean for you first-time homebuyers? In Episode 62, I gave you a sneak peek at 2022 but since I’m so extra, you get some extra. Let’s do it.
Let’s get going. Remember, you are extra. I’ve got lots to get to. For years, I have been helping first-time homebuyers. Even though I’m not Selling Sunset, a million-dollar listings guy or an HGTV hairdo helping Mary and Bill choose between three different homes, I have learned that knowing the market is way more important to a buyer and getting their goals than all the silly minutia, decorating advice, all that crap that you see on HGTV, and all those real estate shows. Data drives decisions or at least it should. Early in my career, and to tell you how long ago it was, back then, Netflix was a mail service that used to mail you the latest DVDs. I’m old.
Way back in 2006 and ’07, I figured out helping first-time buyers in expensive areas like where I live in Southern California that there was way more to this than being a bubbly door opener. The key to buying your first home is a ton of financial planning. It’s market education, dream-crushing, soul searching, and reality checks. That all happens way before any of those HGTV shows would even start filming. Many realtors and first-time buyers skip that part of the guidance and want to get to the part on camera. Life in a TV show and reality TV is not real. Buying a home is not decided in 30 minutes with the advice of some want-to-be-famous realtor.
First up, I want to give you some context. Hang with me. All this is to set up the data that I’m going to be giving you. There’s a lot to get to. This is too important for me to bowl right into the information without giving you some pretext explaining where the information comes from. I promise you, this is loaded with real forecast predictions and deep fact dives.
It’s going to be all the data that’s going to help you. You want to know what’s going on for 2022. I’m going to give it to you so that you can make the best decisions for yourself and your family. I want to be sure that you know that I take this seriously. I’m not tossing around some stuff that I gathered in the last 30 minutes.
I’m not trying to give you controversial headlines or some information you are going to click on. I didn’t want to break it up in a couple of episodes. If you’ve only got half 1 hour or 45 minutes, that’s fine. I will give you a break. You can come back to this. It’s too critical for your choices. I spent months getting this together. I had ten times the information that I’m going to give you but I pared it all down so that you don’t have to do all the research. You are lucky. First up, I don’t claim to have a crystal ball. This is my little disclaimer. I work hardest on this show every single year, gathering all the data from both sides but it’s from no side.
I want to reiterate. This forecast news is based on historical trends and the facts and data of the present time. It’s not anyone’s side. All I’m doing is presenting the facts. You can, and you should use the information for yourself and your specific situation. The idea is for you to take advantage of this information and use it in a way that’s best for you. That’s not going to be the same for everyone. That’s why I’m not going to give you blanket statements. Whether for you taking that information is something that makes you realize that it’s a good time for you to buy, whether it’s for you to stay put or forget all this and move to Antarctica.
Whatever it is, take the data, apply it to yourself and start with your best plan. I’m going to tell you what the experts say with the historical context behind it along with the data, and then you use the information to make the best choices for you. First up, you are here. That means you are already doing some research, which means you are going to be researching other places. That means you are going to hear lots of opinions on housing in 2022. People love to give their opinions about housing. Don’t be swayed by an opinion in a headline.
The main thing I want to tell you is to check your resources before you do something that’s going to be a hugely personal choice for you and your family. There are a lot of noises out there and people with opinions. I heard something from a big real estate guru named Brian Buffini, who has been forecasting real estate stuff for years. He’s pretty damn good. With his major predictions, he’s 31 out of 33 over the years. Try that in Vegas. Do that, and you can retire wealthy. That’s extra. I heard him talking about all the opinions out there on real estate. He reiterated something that we all should know. The media’s job is to get people to look at their content.
They want to get eyeballs, ears, clicks or whatever it is. They go for the fantastic, the controversial, and let’s face it, the catchy. All the blogs, articles, opinion pieces, Instagram posts, Facebook posts, and even TikTok posts are all trying to get one thing. It’s hits, likes and comments. Sometimes if you put up something controversial, you get more comments. Controversy sells. Dissent gets multiple comments and gets you in the algorithm. You get seen more. It sucks but negative gets attention. Scary posts especially always seem to get more traction than a boring factual data post. One of the things he said was to realize that not all stories are created equal.
Here’s the example he gave, which I love, and I’m regurgitating to you. There are over 12,000 sports podcasts. That means that at least twenty people are commenting on professional athletes for one professional athlete playing a sport. That’s a lot of opinions from people observing who aren’t even participating. What I’m telling you is to take that to heart. Do your research. Start asking for credentials when you see something. Don’t look at something on your phone and freak out, panic, get all salty, depressed, go Goth and hide in your room like my teenage daughter. What am I telling you? Google the crap and source out of everything that you read.
I’m shocked at how many people get their opinion swayed by a headline or a post and make life-altering decisions based on the headline. A lot of times, that life-altering decision is to sit still and do nothing because you are scared. You know that one post, article or alert on your phone makes you make a decision, and you haven’t even checked the source of the information. Let’s be honest. Maybe many of you out there are waiting for a headline to validate your insecurities and fears. It’s something to validate the concept that you have in your mind where you would rather remain in the status quo. I get it. That’s why I started the show.
It is scary because there’s not a lot of great information out there for you first-time buyers trying to start the plan. I’m going to tell you two big things. All this data is coming at you. Here are the two big things. One, I get it. It’s scary for you because the information for most first-time buyers sucks. When you finally get into it, it seems crazy overwhelming. You would rather forget about it and think that eventually, like everyone else, you are going to figure out adulting, and you will be fine. That’s an old-school mentality. Things, finances, and the world have changed. You’ve got to take this by the reins and grab it. You can figure it out. It’s not that confusing. You just need a better guide.
Two, burying your head in the sand already costs you in 2021, and it’s going to keep costing you in 2022. I will explain why as we get into this show. Let me give you my credibility since I’m harping on you to do your research. Here’s a resource for me. I have been doing this for a long time. Does that mean that I’m extra? No. I simply saw that a group of people was not getting quality information. I decided that sucks, so I spent all my free time over the years gathering all the facts and doing massive data dumps of pure numbers and analysis. I did it to anyone who would listen. For a long time, there weren’t many people. Even though for a while, my subs were super low.
If you want to check out some of the scary early stuff on me, I don’t mind it because it validates my credibility. There’s a YouTube video from years ago. It’s got a whopping 319 views. You can feel free to check it out and enjoy my super bitching Hawaiian shirt and the horrendous video quality. It was 2011, and I was sharing the data. This is up on YouTube. I was giving everyone the data that I have been gathering and researching since we had the worst crash in real estate history. From 2008 to 2011, I was gathering and reporting. Right around 2011, I saw the predictions in my head on the wall based on the data. I’ve got my sweet Jimmy Buffett wardrobe.
If you don’t know who that is, google Jimmy Buffett Parrot Heads. If you want to see the freakiest group of retirees on the planet, trust me. I posted the video in 2011 that tens of people saw when it first came out. I was a rock star. Mom, thank you for the like and subscribe back in 2011. That was helpful. In the video, I told people that it might be a good time to use a strategy I created called the College Condo. That’s for any kids going to school in the fall of 2011. People were skeptical about real estate at the time. Everybody was freaked out and didn’t want to have anything to do with it. I was telling them, “This could be an opportunity for you.”
I tried to explain that in the video. I did it to everyone who was freaked out. I also did it as a seminar for hundreds of different people. It was because someone that I was working with helped me get all those people by bribing them with free food. After the seminar, I was so convincing. Zero people called me to use the strategy. You have a rock star. What I explained back then was that all housing crashes come back. The further they go down, the further they have to come back. The data was showing that in 2011, buying a condo for your kid instead of paying rent for student housing might be a good time for a well-timed investment.
Near me in Irvine, California, near the University of California Irvine, you could get a condo for about $430,000. I also said in that video, “In other parts of the country, you can get it for about $200,000.” With the right down payment, the rents are going to cover the mortgage. Since the college kids are going to be living there and comparing the condo to the dorms, you didn’t have to buy the Taj Mahal. Have you seen the dorms? It doesn’t take much to impress the college kids. The place could be a dump. The good news is your roommates’ mommies, and daddies are going to pay the rent for them, so it’s a no-brainer.
If you followed my College Condo plan and bought in Irvine near UCI in 2011, let’s say your kids were on the five-year college plan. When they graduated in 2016, that condo would have gone from $400,000 to $600,000. There’s a $200,000 profit. Sell it and pay off their student loans. If you decided, you could go ahead and let your child bear the debt of the student loan but you could keep renting the condo and use the rents to pay off the student loans or make your kid pay for it. I don’t care. If you kept it through, that $400,000 condo is going to be $800,000.
For years, I have been fighting the good fight, working with my friends, clients, and tons of Disneyland employees or cast members, and dropping fact truth bombs like my unseen 2011 video. I have been working together with first-timers to make the plan for this huge financial decision. With the show, I have been giving data to people everywhere since 2019. I have been telling most of you that if you are renting and you know your numbers, the math is going to tell you that anytime in the last few years, including when I started the show in 2019, that if you are trying to time the market, the best time for you to buy a home was yesterday. We are in an upswing, and that has not changed.
A lot of readers took the advice. I have pictures of them on my wall of success in my office. There are hundreds of first-timers up there. Many of them were bought during a global pandemic. They are in their dream home, no longer throwing away rent and sitting on some pretty big equity. In February 2021, I did a show like this and gave you some opinions that were making headlines on what was going to happen for the rest of the year. I shared with you some people saying that we had hit the top of the housing market. A lot of opinions didn’t have a lot of facts behind them but I shared them with you.
People said, “It could be time to run for the bunker, cash out your Bitcoin, sell your sneaker collection and buy lots of toilet paper and canned food.” I gave this to you in February 2021. If you want to follow that advice, you’re cool to do it. They were printing those headlines because their interpretation of the data was bleak. They said that prices have been going up for too long. We were a year coming out of it. Nobody could continue to afford to buy homes in 2021. They said, “It’s because mortgage rates hit that low of 2.66% in January of 2021 that it would mean that they have to go up to 4% or higher in 2021.”
They said that missed housing payments given during the COVID forbearance would cause a foreclosure crisis, and prices would drop. In that same episode, I also, back in February 2021, gave all you readers tons of data and facts from places that share data, not opinions. I gave you some forecasts from super-smart people, way smarter than me, who said things like, “The Big Short and housing supply will continue into 2021. That will keep home price appreciation flying high.” 2021 is over, so the fact followers were spot on as prices did not top out.
They rose 10% to 15% above the 4% to 8% forecast that I gave in the show. I gave the smart people were saying it was going to raise 4% to 8%. They rose 10% to 15% above that, finishing at a 19% increase in prices for 2021. We estimated using all the smart people that mortgage rates were going to go up from 2.66% and hit 3.5%. They ended up at about 3% percent for 2021. This would all happen because the low inventory data that we had been following back since 2008 was still there into the pandemic and through the pandemic. In early 2021, we were still not producing enough homes for sale for a normal market.
I told you that in the spring, “Homes in 2021 were like toilet paper at the beginning of the pandemic, flying off the shelves and difficult to find.” That would be a major factor in the rising price forecasts. This would create equity for all these people, which in turn would offset the foreclosure and forbearance crisis concern. That was a big nothing. It didn’t happen at all. All of that came true. I’m not telling you this to toot my horn, pump up my swag or tell you, “I’m the dude to get you rich.” That is not my intent. That’s not my jam. I’m in it for the long haul for you to make informed decisions with quality guidance. This is not a get-rich-quick show because I know what’s up.
It’s more like, “Listen to me drone on with tons of facts and figures, so you can make an informed decision.” That sounds like a party. I’m asking that as you do your research and read your headlines, make sure that you know that clickbait reaction is part of our culture. I’m challenging each of you to research the information that you consume. Are you listening to a prediction from a source with no track record? If they don’t have a track record, then don’t let the headlines stress you out and dissuade you from the reasonable and rational choices and decisions that will ultimately help you get to where you want to go. Check everyone out. Have they made predictions before? If not, why are you stressing?
Find out if it’s another talk show host, a post or a podcast working the fear angle to try to get more eyeballs or readers. Challenge your sources. I sometimes even say, “Check them out. What’s the business they are trying to push? Do they want to get you to call them? What’s their end game?” If you are wondering about me, mine is simple. Educate the peeps because you deserve it. I always tell you what I learned to be most true based on tons of research and work to help every one of you wrap your minds around it and get a plan. That plan has to be best for you to take advantage of. It might not be right for you. That’s cool. Take the information and chill with it.
I have been doing this for years with lots of proven results. I didn’t make the stuff off the top of my head. The information is going to be coming from a bunch of sources, smarty-pants people, Case-Shiller, Zelman & Associates, Moody’s, Inman, CNN Business, Redfin, Realtor.com, Zillow, RISMedia, Barry Habib in the MBS Highway, Bank of America, National Association of Realtors, Lawrence Yun and Brian Buffini to name a few. Do you understand? I put the work in, so you don’t have to. I neglected my kids and dogs for this crap, so you better appreciate it. I want to make sure that I repeat this before we dive into the forecast and know that I am smiling when I say this because things are getting nuts.
I mentioned this in Episode 67. There’s no political agenda in what I’m reporting. This is not one way or the other. It’s facts and data. People are commenting on facts with political viewpoints more than ever. In this world, everything is fed to us through a political lens, whether you are aware of it or not, you are reading with a political lens. I shared that story last time about the guy who used to post gas prices for years. All of a sudden, in 2021, when he did it, all the comments got savage. Everything turned left, right, blue or red. That’s cool. If you are aware of it, acknowledge that things have changed, even ourselves. We have been trained to look at things through political lenses.
I’m about that. It’s just facts. Put down your lenses. I’m reporting this data with no slant or viewpoint. They are not red or blue facts. Don’t interpret or intake them with those lenses. Last time, the information was green, and that’s it. It’s not energy-efficient green. It’s green as in money. I’m going to give you the straight scoop from boots on the ground and in the game legit player. I’m not a commenter looking on the outside and trying to get my content known. It’s the facts and the data. Let’s do this already, “Sidoni, when do I get my facts?” Here we go.
Housing is one of the strongest sectors of the economy. As we attempt to come out of the pandemic, the overall US economy has some good signs that will continue to fuel the incredible run on housing that we had in 2021 and keep it going into 2022. As a result, the scorching housing market of 2021 will downgrade a little bit. It’s going to go from Sun-scorching to Mercury-hot. Do you know what that means? Don’t you wish you had paid attention in science class? It means it’s still going to be hot, just not as Sun-hot. Here’s the stuff we are going to cover.
1) We are going to talk about the 2021 data that leads us into 2022. 2) I’m going to give you some forecasts from leading world economists. I did the work, so you don’t have to. My dogs are neglected and sad, so you owe me. Don’t worry about my kids and wife. They are fine. I bought them off with Legos and clothes for Christmas. 3) I’m going to talk about employment and job stats. Those boring financial stats are crucial to the economists who are trying to forecast the housing market. 4) We will do a little quick recap on inflation. 5) Mortgage rates. That’s a big one for you. 6) We are going to talk about inventory and the number of homes for sale. Spoiler alert, it’s not a lot. 7) It’s the one you are waiting for, home prices. You’ve got to do them in that order, so you understand how everything intertwines with each other.
Topic number one, to look at where 2022 is going, we have to see where we are at the end of 2021. Just because the calendar changes, we flip, and the year goes from ’21 to ’22 doesn’t mean there’s a fresh new change in everything. We pick up right where we left off in ’21. Where’s that at? The beginning of 2021 started with a forced shutdown but on the job side of things, 78% of the employed remained employed. It was scary for a while but we still had a lot of people working.
We are ever so slowly coming back to normal. As you know, lots of people out there and maybe even a lot of you were adapting to your work environment and working remotely. Those are working remotely opportunities changed a lot of people’s desires for their home environment. At the beginning of 2022, we’ve got another little issue. We’ve got the Mighty Morphin Transformer Omicron-saurus. That thing is going to throw a wrench in things for a little bit again but I would suggest using 2021’s rebound as a model for 2022. Take a look at 2021 and see how we rebounded after that. We will end up doing the same thing here in our spring and summer.
We are sitting with room for growth. That’s important if you try and figure out where things are going to go economically. We are still working a lot of the major factors out that affect housing. We’ve got supply chains issues that are still catching up. Lumber prices are still stupid high, and the inventory or the actual number of homes for sale is the lowest that we have ever seen. Where I am in Southern California in Orange County, the Real Housewives of Orange County, and I saw some staggering inventory numbers. This is a little snippet to give you a little piece on that. 2022 started with an active inventory of 2,522 homes.
That’s the lowest level that we have ever seen since tracking began in 2004. In Orange County, we usually have 7,000 to 8,000 homes on the market. Typically, the inventory climbs to its highest-peaking point in July. The inventory peaked on January 8th, 2021, and dropped the whole rest of the year. A hundred more homes came on the market, and on January 8th, 2021, it dropped. 2021 finished with only 1,072 homes in Orange County. That’s 700% off the average. We finished 2021 with 700% below the average number of homes. That’s where we were sitting. We are seeing these similar numbers everywhere in North America.
Another fact for you first-time buyers from 2021 and something that’s going to be important for you is that we saw the number of realtors increase. Everyone was trying to get on that easy money because homes were going up so fast. Normally, we watch the average number of years that a realtor is working. It goes up and down a little bit every once in a while but the total average experience of a realtor dropped from 9 years of experience to 8 years. It dropped an entire year. It doesn’t sound like much but if you look historically at it, that is a staggering drop in the average time that someone has been a realtor.
Be aware that more newbies jumped in the game in 2021 than we have seen in a long time. Guess who they target or the first people they run out to try to help. It’s you, first-time homebuyers. I love them. It’s not their fault. Some of them are trained well. A lot of them are not. Check your realtor’s credentials, stats and training. You are not a Guinea pig for someone else to learn how to do their job and make mistakes with you for your one purchase or the biggest purchase of your life. Here are some other stats for 2021. Fifteen percent of the homes purchased in 2021 were new. Compare that to other times in the market. Back in the ’80s, we were at 30%. Shortage in construction is a big problem.
We will get into it when we talk about inventory. 2021 also saw homes averaging three weeks on the market. That’s the average. That includes all the luxury homes that push that average up to three weeks. Trust me. That isn’t what it’s like. Those luxury homes sit up there because they are overpriced. They sit on the market for months. If you take those away, I guarantee you it would be less than three weeks. Most of my buyers and readers in 2021 reported much shorter times than the three-week average. We are talking offers in the first three days. Most of them were open houses. On Saturday, Sunday, and Sunday night, they were looking at multiple offers.
If not 3 days sometimes it’s 3 hours. That’s the first-timer 2021 real estate stat. The national average was 29% purchased over the asking price. Twenty-nine percent of the people had to pay more than the list price. I, boots on the ground, with ten different audiences in 2021 that bought properties, saw much higher than that. Almost every single one was over-asking 90% to 95% for the first-time price point. We expect to see more of that in 2022. We are going to stay with it and keep moving. I’m going to give you the forecasts. You can read this and turn it off but if you do that, you are going to miss the reason behind it and be uninformed.
I will give you an intermission a little bit here. Here come the forecasts. This is topic number two. According to economic experts, after breaking records for days on the market, mortgage rates, median sales price, and inventory, the record being low, all happened in 2021. They say that the housing market won’t quite burn as hot in 2022 but will scorch as a multitude of buyers are chasing too few homes. Everyone loves that. It’s not Sun-hot but Mercury-hot. Trust me. That’s no Hawaiian vacation. In general, experts predict home prices to continue to rise albeit more slowly than in 2021. At the same time, mortgage rates are going to increase, and inventory is going to barely get a little bump.
It’s going to go up but it’s going up from a record low, so it’s still not going to be enough. The pandemic-fueled inflation is expected to decelerate a little bit. Worker flexibility is going to continue to pull homebuyers to more affordable areas. One of my experts here, Kate Wood from NerdWallet, loved them. She says, “The forecast for the 2022 housing market isn’t looking too different from 2021. If the market is cooling down, it’s only by a few degrees. There are still many more buyers in their homes for sale, particularly in the starter home price tiers. We are going to see a rush to buy homes at the start of the year before mortgage rates rise.”
The early onslaught of demand will deplete the supply of homes for sale. In the second half of 2022, a much-needed increase in construction will boost sales slightly. I’m giving you the data, whether it’s good or bad for you. If you are on the fence and ready to go, you hear this and go, “I’m calling David and getting a unicorn,” that’s great. If you are thinking, “I’m going to have to wait until the end of the year. I’ve got to do some saving,” some prices are, and mortgage rates might go up a little bit but there is the potential and little bit of light at the end of the tunnel with the increase in construction.
Here’s another forecast. Their economists said in a 2022 forecast that homebuyers should expect a whirlwind year. Danielle Hale, the Chief Economist at Realtor.com, says, “Americans will have a better chance to find a home in 2022 but will face a competitive seller’s market as first-time buyer demand outmatches the inventory recovery. With more than 45 million Millennials within the prime first-time buying ages of 26 to 35 heading into 2022, we expect the market to remain competitive. Additionally, listing prices, rents, and mortgage rates are all expected to climb. Affordability will be a challenge as interest rates and prices rise but remote work may expand search areas and enable younger buyers to find first homes sooner than they might have otherwise.”
Here’s another forecast. This one comes from Redfin’s Chief Economist, Daryl Fairweather, “Next year, we will see a more balanced market with a bit more inventory and slower price growth but it certainly won’t be a buyer’s market.” My boy, Larry or Lawrence Yun, the Chief Economist from the National Association of Realtors, says, “With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.” We’ve got George Ratiu, the Manager of Economic Research at Realtor.com, “We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.”
The overall facts and forecast mean one big thing. Homebuyers need to be prepared and patient in 2022. We’ve got all the Baby Boomers that are hitting retirement. That’s changing the social security in retirement and vacation homes. Millennials are reaching the peak first-time homebuyer age and competing in a market starved for inventory. The market is going to slow a bit from the surge in demand that we saw in 2021. For the prospective buyers, we have to assume that they are still going to continue to be bidding wars, difficult trade-offs, and some frustration. Zillow expects more than six million people to buy homes in 2022. That’s crazy. Many of them will be first-time homebuyers.
It’s usually 32%, 33%, to 34%. It might not be pretty but it’s better to know all this so you won’t be surprised. Let me be the first to shatter your HGTV fantasy. To be sure, the obstacles you will face are going to be many but I’ve got you. Once you save enough for a down payment, you are likely going to need to win in a competitive marketplace. We are going to get you there. On that happy note, why don’t we go ahead and take an intermission? These next topics are all the economic factors that are going to play a factor in 2022. This is number three, jobs. The unemployment rate is almost back to normal. Before we hit the pandemic, we were at 5%. In COVID, we hit 15%.
Since then, we have come back even with the Omicron-saurus coming at us. We are back at about 5% for the unemployment rate. The data behind this data is this. To be counted in the unemployment 5%, you have to be shown as searching for jobs while a lot of people left the workforce in the pandemic. They are not actively searching, so they are not counted as unemployed. Even though the rate is 5%, they did the math, we are still short four million jobs. You might not know this or feel this where you are in your life but job openings are higher than ever. There’s room for growth. This number is letting you know where the growth is coming in for the jobs.
Jobs were affected by originally the fears of the virus, vaccine mandates, and people waiting for higher-paying jobs. A lot of single moms and dads had to stay home more to help with schooling during the shutdown. I know you have heard this in some stories. There were a lot of people that were living off the stimulus money, and that’s all dried up. All this means is that we should see some changes and improvements in the 2022 job market. Our topic number four is inflation. I did the episode on this but you can’t do a forecast without taking it into account. If you haven’t read Episode 67, this will be a quick recap of that. I highly recommend you go back and read it.
Inflation is going to affect mortgage rates. It’s a simple equation. If a bank lends you money if inflation keeps going, that means the money is going to be worthless in the future when you are paying them back for the loan. They don’t want their dollar to be worthless, so they are going to have to up the rates a little bit to offset the future loss. For many of you, this new rapid inflation that happened in the last half of 2021 that’s still going on at the beginning of 2022 is going to affect your housing decisions. There’s going to be rising prices on the everyday items that you buy. That’s going to squeeze your budgets and prompt households to look for ways to save money somehow.
If you are trying to save for a house, that’s going to make that a little harder. A lot of you are going to be doing that and see, “It would be awesome not to have a rent that goes up every year because that sucks.” Many buyers are going to see the fixed cost of a long-term low-interest mortgage as a great hedge against inflation. As rates continue to rise and mortgage rates remain low for lots of first-time buyers, using a low down payment to buy instead of renting for a little while looks pretty dope. It’s a nice locked-in and fixed monthly payment. It’s appealing. There are no more rising rents. Wouldn’t that be fun?
Episode 67 gets into details on how this leveraged home purchase can also be a hedge against inflation in several other ways. The economy has dramatically improved. Although we are seeing inflation rising to highs that we haven’t seen in decades, what’s interesting is mortgage interest rates haven’t budged. What does that mean? I don’t have a crystal ball but what the smart people tell me is because the mortgage interest rates haven’t gone up even though inflation has gone from 4% to 7%, that tells us that the investors are confident that the inflation pressure is going to subside and eventually retract sometime in 2022. That’s what the smarty-pants has to say.
In Episode 67, I talked about this when we look at the historical reactions to inflation. In the past, raising or hiking the Fed interest banking rates and lending rates helped to slow inflation. The other historical reaction to inflation was that mortgage rates dropped. Here’s another reaction that happened during the inflation cycles that we have seen in the past from the end of the 1970s and 1990s. What the Fed did was hike it to slow inflation and lower mortgage interest rates. That caused the stock market to drop and we went into a recession. That’s what happened then, and we are due for a recession. The stock market is pretty expensive, and we are overdue for a fatty correction.
It’s scary. If you don’t understand the way those pieces work together, the historical facts show that the majority of the time, housing goes up in a recession. The one negative big example is the 2018 recession, which was caused by the housing market. They have done all kinds of things to fix that, so the next one won’t be caused because of all the terrible things they did with the predatory lending and all that stuff. All that information is in Episode 47 and Episode 48. We are moving on to our next topic. Episode 67 also discussed the correlation between rising inflation and the huge next topic, topic number five, which is one that I’m sure is going to be of interest to you.
It’s mortgage interest rates. That’s what we are going to talk about for topic number five. Episode 67 talked a lot about the Federal Reserve and the central banks’ loose monetary policies coming to an end. That was in the inflation episode. I also talked to you about a whole bunch of other stuff like quantitative easing and tapering on purchases of mortgage-backed securities. In 2022, we will see the official raising of the short-term lending rate, which will affect mortgage interest rates. Don’t even bother. That’s not going to make any more sense to you the more that you read it. It doesn’t matter.
Episode 67 goes into a whole bunch of that gobbledygook and explains all those facts, what the hell those fancy industry terms mean and why on Earth I care to give that to you in a show where I’m trying to be entertaining mixed with terrible dad jokes. Real estate nerds use that information to predict where mortgage interest rates will go. That’s what matters to you. I understand it makes less sense to you when I read it or less sense than a Justin Bieber collab with a legit rapper. It’s that nonsensical but trust the data is legit. Smarter people than me are pointing out the facts about our Chairman of the Federal Reserve, Jerome Powell.
He’s the dude that looks after the government and helps to keep the economy afloat. It’s his main job. There’s no pressure. Here’s what we know about him and how he’s going to affect mortgage rates. Number one, he got renominated. That means we know what this guy does, and we can get more accurate guesses for the rest of the year. Number two, he has also come out and said that in November of 2021, he intends to fast-track the taper and slow down on the buying back of mortgage bond securities. That’s going to be happening in 2022. That means less cash in the overall system. I explained what the hell all that means to you in Episode 67 on inflation.
I also explained what’s going to happen when number three, he’s going to raise the business in banking lending rates at the end of 2022 in the 3rd and 4th quarter. What happens with all that stuff that we know about our boy, Mr. Powell? Mortgage rates are going to remain low but experts predict that they are going to rise in 2022. A survey of housing experts published by Zillow revealed that pros expect interest rates to rise to 3.99% at the end of 2022. Some of you out there have been studying and looking at using mortgage calculators. 3.99% makes you freak out. I say this in other shows. People used to high-five, hug, and offer me their firstborn children for a rate of 6%. 3.99% is nothing.
Here are some other predictions. Maybe these will make you happier. Fannie Mae predicts the interest rates are going to average roughly 3.4% in 2022. Kate Wood, my main gal from NerdWallet, says, “We may see a long-lasting upward trend in mortgage rates.” Greg McBride, the Chief Financial Analyst at Bankrate, notes that come 2022, the general trend will be towards higher rates. Odeta Kushi, the Deputy Chief Economist from First American, says, “Consensus forecasts put rates at about 3.7% by the end of the year. That’s still historically low but certainly higher than they are now.”
Uncle Larry from the National Association of Realtors or Lawrence Yun expects a 30-year fixed mortgage rate to increase to 3.5% as the Fed raises interest rates to control inflation. Redfin predicts a 30-year fixed mortgage rate to rise from about 3% to 3.6% by the end of 2022. Those are the pros’ guesses on rates. That’s me regurgitating what all these forecasters think. Those are seven expert forecasts. I didn’t even tell you about my boy Barry Habib who’s a prognosticator extraordinaire from MBS Highway. He is all about mortgages. People go to him all the time. He says that rates are going to rise to 3.5% in the first half of 2022.
He thinks that the Fed raising the interest rates in the 3rd and 4th quarters in 2022 might lower rates back down to close to 3% at the end of 2022. Zillow is saying 4%, Barry is saying 3%, and everyone else is saying right in the middle. The bottom line is nobody is saying 2.99%. Those are the facts from the pros, and it all adds up. When it adds up, you are making a move as soon as possible in 2022. If you are going to need some time, then use the year 2022 to work hard to get your stuff together and be a good scout. Be prepared. Topic number six is inventory. If there’s one factor in the housing market that is truly outweighing everything else, inventory could be it.
We should see a little more inventory of homes for sale but it won’t be enough as homes will still move quickly with multiple buyers bidding on not enough homes for sale. Low inventory means that homes sell fast. Normally, in a regular sales time, homes are on the market for 60, 75, to 90 days. That gives you, as the buyer, time to look around and even revisit a home a couple of times before you make a decision and write an offer. It hasn’t been the case since pre-pandemic. My last home on the market pre-pandemic in mid-March 2020 had 6 offers in 2 days, and then it shut down. Everyone freaked out, and the market dropped. Everyone was saying, “This is going to be forever. This is terrible.”
It dropped for eight weeks and then kicked back in. Is that resiliency or ignorance of Americans? God bless us all. According to the experts, don’t expect to have those leisurely two months of shopping that we had in other times because even through the worst pandemic, that ended in a couple of months. All the more reasons that you should start preparing so that when you are ready to go out and look at houses, you are confident in your finances, neighborhood, and housing pre-research that you and your unicorn realtor have done. When you see an opportunity that appears for you, you can jump on it because, in 2022, they are going to disappear as fast as they appear like in 2021.
In 2021, 80% to 90% of first-time buyer homes in that price range went into contract in under 30 days, with lots of them in the first weekend. I had plenty of readers that missed out on homes because they wanted to take a day or two to think it over. I had buyers that lost homes in hours in 2021. We expect with this low inventory that it’s going to keep doing that in 2022. Like the Boy Scouts or that song from The Lion King, be prepared. Start preparing and make this happen for you as quickly as you can. Why would I say that? I don’t know your specific situation. This is a general broad overview. We are going into 2022 with close to a shortage of six million homes to match the demand levels.
I’ve got a text from a unicorn in Maryland. Her name is Margarita or as I like to call her, Anita Josefina Teresita Beatriz del Carmen Margarita. If you are out there canceling me and thinking I’m a horrible racist, you have to realize that it is an honor to be attached to that line because that is a line from the greatest piece of musical theater in American history. That is a classic line for anyone who has ever portrayed a Jet or a Shark in the wonderful musical theater show, West Side Story with music by Leonard Bernstein, choreography by Jerome Robbins, and lyrics by a young nineteen-year-old upstart named Stephen Sondheim. Rest in peace, Stephen.
Even though I am an Italian from Buffalo, New York, I never played Bernardo and said that line on stage, although I have seen many YouTube clips from the Midwest where the Italians played Puerto Ricans in the show. I’m not too sure about that. I was a Jet. I was Action but I love that line. That’s a little bit of a tangent there. Thomas the unicorn texted me and let me know that Margarita is under contract for her first home. I introduced them on October 21st, 2021. The text says, “Happy New Year, David. I’m letting you know we have written seven offers and are under contract.”
If you are wondering if the calendar changed and suddenly everything changed, they had to pursue it. The inventory is still low but from October 2021 to January 5th, 2022, it took seven tries to get a home. Remember, where I am, we are 700%. They are over in Maryland somewhere but it’s everywhere. I am 700% off the average number of listings for homes for sale. We are so low that Redfin economists predict new listings are going to hit a ten-year high with new listings in 2022 but that it’s hardly going to make a dent in the ongoing supply shortage.
They said, “The small increase in the listings of existing homes will coincide with a slight increase of newly constructed homes.” That’s better news but maybe still not great news if you want to beat selection. What do you do? Be prepared. As for new homes being built, the Wall Street lingo or CNBC terminology for this is housing starts. That means new homes were built. We are finally seeing an increase in housing starts. Here are the stats. Fannie Mae is predicting that single-family housing starts in 2021 are going to finish at about 1.125 million. They expect that to rise in 2022 but only 4.8% by the difference of 54,000 homes more. That’s it.
Doug Duncan, Fannie Mae’s Chief Economist said, “Demand for new home construction remains robust as the supply of existing homes for sale remains historically tight and mortgage rates continue to be highly supportive for homebuyers. However, supply bottlenecks and labor scarcity continue to hold back the faster pace of construction. Despite the rising housing starts, these homes will add to the overall housing supply but the report shows little evidence of improvement regarding homebuilders’ ongoing struggle to keep up with demand. Lumber prices are surging again, jumping around 80% as measured by futures contracts.”
I saw a meme of a guy, “I bought a popsicle for $2. The two sticks are worth $38 because lumber is expensive.” They are not going to be building homes at a quick minute. The inventory is not going to be relieved by the fairy godmother of new construction in 2022. According to Zillow economists, “The expected increase in new construction will be a drop in the bucket. Homebuilder confidence is sky-high, and builders are doing all they can to get houses up but supply chain snags and labor shortages are limiting the process. The gap shrunk in 2021, and it’s likely going to shrink again in 2022 but the housing shortage will be a defining feature of the market once again in 2022.” What does this mean for the market? It’s short of a total collapse in the economy or a gigantic rise in interest rates.
The housing market is going to continue to thrive with this new normal that has been created partially by the pandemic and because of the lack of inventory. Even if mortgage rates were to rise a little bit, there’s little opportunity for a ton of inventory to come out and meet the skyrocketing demand because of the suboptimal levels of homebuilding. A Zillow economist said, “The market forces that have given sellers the upper hand over the past couple of years or so, tight supply after years of underbuilding and elevated demand due to remote work, US demographics, and low mortgage rates will persist in 2022 as well. Expect to see bidding wars on many homes, especially as the market heats up during the spring and summer shopping season.”
What about buyer demand? First of all, the show turns three years old in March 2022. With all my audience, that’s got to be hundreds of thousands of people getting ready to buy. You are sharing the show from your phone with all your friends all the time. It’s free. The least you can do is text it to one of your friends who pays too much in rent. All those people are going to be out there demanding to purchase properties. We all expect there’s going to be a huge demand coming from all the How to Buy a Homies who finally figured how to dump their rent.
An economist at Bank of America notes that Millennials are leading the home buying charge, and they are nowhere near reaching the prime age for home buying. I would like to add that they are sick of jacked-up rents, and a fixed monthly payment is looking nice to them. Here’s the final piece on the inventory. If you ever hear anyone saying that forbearance means foreclosures, first, punch them in the face and then blame me. I will take it but you have to video it and I will accept responsibility. Remember, the people who were saying that foreclosures are coming because of forbearance are the same people who said that we were going to have a housing bubble that was going to burst in 2021.
They are living for the bad news. I don’t preach ice cream and rainbows. I did beware of the coming recession show in 2019. I spit you facts. Forbearance is ending. There are no longer people able to not pay their mortgage, and it would be relieved because of COVID. When it ends completely, instead of people getting foreclosed on, a lot of these people gain 19% equity in 2021. That’s planning to make up for their missed payments. If they still don’t have a job, remember 70% of the people do, and a lot of people are coming back and formulating jobs out there.
You still say, “It’s happening, David.” Let’s say they can’t make their payments. With 19% appreciation that they made over 2021, which is sick, they can sell their house. The money they make right there is going to pay it off. Not only will it not crash the market but it’s also going to bring some relief to the inventory because there are tons of buyers still waiting on the sidelines to snatch those homes up before they would ever give them back to a bank and foreclosure. Topic number seven, home prices. This is the one you have been waiting for. Have I taught you nothing?
Buying a home is not dependent on the single factor of price. Your decision to buy a home should be based on multiple factors, including but not limited to the price of the home, mortgage rates, personal finances, market conditions, historical market fluctuations. Also, the time you intend to live in the home, HOA fees, debt, income ratios, global market conditions, the Marvel Cinematic Universe, and the price of a Bitcoin compared to an NFT of me yelling into a microphone in a dark room. Maybe it’s not all of that but you know what I mean. Home prices matter but that is not the whole enchilada. Maybe you should cancel me for that one.
Does it help that my wife is Mexican, and her guacamole makes me melt like I’m on Mercury because it’s hot? Moving on. Prices, the one you have been waiting for. I gave you many of these forecasts in Episode 62, and I’m going to hit you with those facts again, plus some more details. The lack of supply, the low mortgage interest rates, and the strong buyer demand is inevitably going to lead to higher home prices in 2022. The price segment is over. That’s all you need to know. In other words, what’s going to happen in ’22? There are not enough homes, money is cheap, and peeps want houses because rent is nasty. Have I broken it down for you enough?
Here are some legit stats from the pros. Those pros are extra. After rising 17% to 19% in 2021, Zillow economists anticipate values are going to rise 11% in 2022. The experts at Redfin tell us that the rise in prices is partially going to be because demand is going to be up because of rising rents. It’s my favorite subject. They expect that rents are going to increase 7% by the end of 2022.
I’m not blowing sunshine up your butt and saying this is going to last forever. Eventually, prices have to go down but with all this data, it’s not in 2022. Nobody knows for sure. Nobody has a crystal ball but the experts are using all the economic facts and data to expect appreciation to continue through 2022 at the very least.
This is me talking but the words were created by somebody else, and I’m regurgitating them. They are smarter than me. 2022 is going to decelerate. That doesn’t mean it’s going to decrease. It’s going to be down from 19%. It’s going to be less than 19% but the overall number is still going to be up. It’s the Sun-Mercury analogy. We have one forecast of an 11% increase.
Fannie Mae forecasts a 7.4% appreciation in 2022. Freddie Mac says 7%. The Mortgage Bankers Association says 5.2%. Home Price Expectations Survey says 5.1%. Zelman & Associates and Zelman, the wizard from another show, say 3% in 2022. The National Association of Realtors says 2.8%. We are all over the map. It’s from 2.8% to 11%.
Meanwhile, the National Association of Realtors gave their prediction but surveyed more than twenty of the top US economic housing experts and landed on a median home price increase of 5.7%. In another survey of over 100 experts, they forecast a 5.82% price increase or home appreciation. It looks like we are landing somewhere in that 5%-ish range. If you are a buyer, don’t expect a sudden or drastic drop in home prices. Experts say it’s not going to happen. Instead, think about your homeownership goals and consider purchasing a home before prices rise even further. In Episode 62, I gave you some long-range forecasts and bonus information.
Pulsenomics, which is either a cranking club at the end of the block or a completely nerdy publication that digs into facts and figures with economists, talked to economists, investment strategists, and housing market analysts. It’s a fun group. They asked them for their five-year prediction. 2021 was year one of that petition. They shot low on that one. They only said it was going to be 11%. We hit 19%. Here’s what they said. In 2022, they are expecting a 5.82% increase. In 2023, these hundred economists, investors, and housing market party boys are predicting 3.94% appreciation. In 2024, it’s still up 3.56%, and in 2025, it’s up 3.55%.
If those numbers sound crazy to you, go back to Episode 47 and Episode 48, where we talked about the non-bubble because there are a million reasons behind this. As long as we don’t have a global meltdown, there are still tons of indicators that show that housing is going to continue to rise. Also, in Episode 67, I gave you some analysis to go with the professional forecast. It’s worth repeating. As I have mentioned in several episodes, the thing that could wreck all the predictions is a global meltdown or perhaps a recession but maybe not. If we do have a recession, most of the time, in 3 of the last 5 major recessions, housing has gone up.
If you are hardcore and you did those numbers for the five-year forecast and started in 2022, you were like, “It’s 5.82% in ’22. It’s 3.94% in ’23. It’s 3.56% and 3.55% in ’24 and ’25.” You are adding it up and you are like, “That’s close to 15% appreciation.” That is what we call a cushion against the Negative Nellys and the Debbie Downers who bitch just to bitch because they don’t want to back anything up with data and facts. They want to have fear. Fifteen percent is a good cushion, so don’t be bummed out you missed the sick 19% appreciation of 2021. That’s too bad. That’s sad. Boo-hoo for you. You missed it. Deal with it. Accept it.
Bury your head in the sand and cry if you want to but if you don’t pull it out real quick and start making a plan, your head is going to be down there, and you are going to keep missing it. You are going to miss the appreciation in ’22, ’23 and beyond. It’s not going to be astronomical but it’s going to be normal appreciation, and normal appreciation is a big deal.
I don’t know what you’ve got in your savings account or what you’ve got working in your stock portfolio. With 4% a year for doing nothing but paying your monthly housing bill on a $200,000, $300,000, $400,000, $500,000, to $800,000 house, don’t go crying and be saying, “Why didn’t the universe make me buy a house when the market was at the bottom?” I love you but it didn’t.
The bottom was 2011, so you are way off. This is when you are here. Let’s all make the best of what you can and what we’ve got left. The good news is you are reading that there’s still some meat on this bone. In the big picture, we are getting towards the top of it. You can still plan and catch the end of this. There is no perfect time. The perfect time was 2011. That was a long time ago. Every day since then, every buyer has been taking advantage of whatever they can. As long as the forecasts ring true, you are going to make some appreciation. Something is better than none. I wish you had bought it in 2011. I wish I had bought Dexcom stock in 2011.
It’s because my son was diagnosed with Type 1 diabetes. Dexcom has this dope technology that he uses to monitor his blood sugar. I love them for creating it. The reason would be because, in 2011, Dexcom was the third-highest rising stock in the last few years up 2,593%. I didn’t buy Dexcom then, and you didn’t buy a home, so let’s all live in the now.
There’s nothing we can do about that except take advantage of the knowledge we have and use it to the best of our abilities. When you believe in the history, stats, and numbers and take advantage of what you can, you are going to succeed. If we do go up for another four years, as these experts say, then you are not too late to get in there.
What you are going to do is you are going to get some cushion in your home investment. Why do I call it a cushion? It’s because you always need a cushion. With housing, it’s not, “If it’s going to go down.” It’s, “When it’s going to go down.” The sooner that you get in, the higher the cushion that you have. Remember, your parents went through these ups and downs. During the whole 20 or 18 years when you were at home, their house went up and down. I don’t think you get to ride this forever. The point is you’ve got to move quickly. Start now, and you can get a cushion of equity. The pros say perhaps 15% in the next few years.
Those are my seven points. Let me give you some bonus extras that are going to affect the 2022 market. COVID and remote working are going to impact where buyers want to live. Experts predict that the Omicron-saurus variant is going to be raging. They are predicting the white-collar workers are going to start figuring out that they might want to use some flexibility in where they work.
More affordable cities and suburbs are going to attract buyers. Realtor.com says, “With average commute times growing and nearly 20% of homebuyers reporting one-way commute times over an hour, regular remote work enables homebuyers to broaden their search parameters or in some cases pick up and relocate to a city where homes are more affordable as many have done in 2021.”
In general, the buyers no longer have a five-day weekly commute, and if you only have to go in a couple of days a week, you can go ahead and have the commute be a little bit longer. You have newfound freedom to separate where you live from where you work. For you city folks, that’s great. That means that people are going to be leaving and you can all stay there, buy the houses there, enjoy the city life and be a big hipster. For some of you who might desire more space, you can move farther away from the city centers, whether that’s to a suburb or way the hell out in the country. Things are changing. If this works for you, this is one of the things you need to take into account.
My favorite bonus factor is my favorite topic. It’s rent. They are going to keep going up. The national median rent has increased a staggering 17.8% in 2021. That’s far greater than the rent increases that we have seen in years. My motto is getting some juice, “Rent sucks.” In 2022, the National Housing forecast on Realtor.com projects prices for vacant units will continue to rise, “In 2022, we expect this trend will continue and fuel rent growth. At a national level, we predict a rent growth of 7.1% in the next twelve months somewhat ahead of the home price growth in some places.”
If you are stuck in a lease, and your big reason is your timing of when you are going to buy, if you haven’t figured out from this whole show, the best time to buy a house is tomorrow, “Can you do it tomorrow?” “I don’t know. I’m not you.” Whenever you can do it, speed it up. If you are going, “My lease is up in July,” I tell my people all the time, “Thousands of dollars is a big deal but you have to look at the big picture.” If you are timing it for the end of your lease because you don’t want to pay that extra fee to break the lease, your landlord is going to be stoked to break leases in 2022 because they get you out and raise the rent, and the tenants are wanting to come in there.
It may not cost you that much to break your lease at all. You could negotiate it with them. If they still make you pull the whole thing, you have to pay the whole big thing, and they don’t negotiate with you, keep in mind when you wait for your lease to end when you come out, you are going to be chasing a rising market with rising mortgage interest rates, too. A couple of grand that would have cost you to break your lease 2, 3 or 4 months earlier is going to be peanuts compared to the price increases and the mortgage rate increase. If you want details on that, go back and read Episode 36. Now, you have the data. What the hell should you do?
First of all, remember that rising rates and prices are great motivators to help you find the home of your dreams sooner rather than later. You can buy while homes are still affordable and also get the potential equity gain that’s going to be happening in 2022 and beyond. If you are not ready to do that, then prepare to be creative and flexible with terms.
The inventory is still going to be low in 2022. When you get to make an offer, don’t get stuck on a number. It’s a big equation with price rates and all this other stuff I said in this big and long rambling. If you wait for the perfect house at a certain price, you might be watching prices and rates go up while you wait. That perfect number is going to be in the rear-view mirror.
Finally, if you want guidance to prepare, you are going to be the hero at the end of the story but you need a guide or someone to walk you through it. It’s someone who has been through it before, understands, has empathy, and enjoys helping you. Get yourself a unicorn team and wrap yourself in a unicorn bubble. If you want a unicorn team, go to DavidSidoni.com or HowToBuyAHome.com.
Fill out the contact form. I will send you a pro in your area that is experienced enough to make this happen in what is sure to be another bananas year in real estate. It’s not me talking. It’s the data telling you that. You can find me @DavidSidoni on Instagram and @HowToBuyAHome on TikTok. If you’ve got anything out of my free data dump, please rate, review and share the show with your friends.
As I do this, Spotify is letting you leave reviews. If you listen to me on Spotify and leave a review somewhere else, find it, copy and paste it, make up a couple of words and throw it on Spotify. Help me out and get that Spotify reviews up. It’s 5 or 3 minutes of your time for over 1 hour of raw data plus 67 other episodes. There’s a whole bunch of stuff. It seems like a fair trade. I would appreciate it.
Truly, this is a mission of mine to help people. The more views we get, the more people find the show and the more pictures I get to put on my wall. Don’t forget the most exciting thing about this episode. Check that sweet 2011 YouTube clip of me. If the guy from that clip in that sweet Hawaiian shirt can have a successful show with hundreds of thousands of downloads, then you can do this.
- Episode 62 – 2021 Recap and 2022’s Forecast – Plus, First Time Home Buyer Fundamentals
- Brian Buffini
- YouTube video – 2011 June – College Town Investing
- Zelman & Associates
- MBS Highway
- National Association of Realtors
- Episode 67 – How High Inflation is Affecting First Time Home Buyers
- Episode 47 – Is This a Housing Bubble Ready to Burst?
- Episode 48 – Bubble Home Buying: What First Time Home Buyers Need to Know
- Daryl Fairweather
- First American
- Mortgage Bankers Association
- Episode 36 – Timing Your First Home Purchase with the End of Your Lease
- @DavidSidoni – Instagram
- @HowToBuyAHome – TikTok
- Spotify – How to Buy a Home
This podcast was started for YOU, to demystify things for first time home buyers, and help crush the confusion. After helping first timers for over 13 years, I knew there wasn’t t a lot of clear, tangible, useable information out there on the internet, so I started this podcast. Help me spread the word to other people just like you, dying for answers. Tell your friends, family, and perhaps that random neighbor you REALLY want to move out about How to Buy a Home! A really easy way is to hit the share button and text it to your friends. Go for it, help someone out. And if you’re not already a regular listener, subscribe and get constant updates on the market. If you are a regular and learned something, help me help others – give the show a quick review in Apple Podcasts or wherever you get your podcasts, or write a review on Spotify. Let’s change the way the real estate industry treats you first time buyers, one buyer at a time, starting with you – and make sure your favorite people don’t get screwed by going into this HUGE step blind and confused. Viva la Unicorn Revolution!