One of the biggest themes in 2023 was the struggle in the housing market. High mortgage rates made it more difficult for people to buy homes and people who had homes didn’t want to sell them in fear of losing their low mortgage rate. A lack of existing home inventory plagued the market, though homebuilders were able to take advantage. Meredith Whitney LLC Founder Meredith Whitney, who is known for correctly predicting the 2008 financial crisis, tells Yahoo Finance’s Brad Smith and Brian Sozzi that as more baby boomers retire and look to downsize, more inventory should come onto the market.
Whitney says that since most home mortgages are originated by institutions outside of banks, they can’t really ease their lending standards to make housing more affordable. Whitney notes that there are government programs that can help homebuyers, but she cautions that could cause servicing costs to rise. Whitney thinks that, ultimately, “you’re going to have more seniors, the silver tsunami, selling and there are fewer buyers so the give is going to be lower home prices… advice to millennials, that advice is to wait. Advice to boomers is sell… the sooner you sell the higher price you capture. The longer you wait, the lower price you buy at. So, I think it’s a cat and mouse game.”
Click here to watch the full interview with Meredith Whitney.
For more Yahoo Finance housing coverage:
2024 home buying season will be better than 2023: Economist
Can homebuilder stocks defy the odds in 2024?
Housing market has looked ‘bubblicious’: Economist
Top housing markets for 2024: Realtor.com
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50% of “young adult males” dont want to date! Shocker.
If that mindset persists, the Boomers/Millenials will start seeing their single family home asset drop in value.😊
Shes underestimating the demand
This lady is full of “I think” and speculations. She got no clue.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
Given the current market situation and the precarious state of the economy, I would recommend refraining from investing in stocks for a while or, alternatively, seeking guidance from a financial advisor. However, keeping a portion of your wealth in gold remains a wise choice.
I completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague
Is there any chance you could recommend who you work with? I’ve wanted to make this switch for a very long time now
My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for the helpful tip. it was easy to find your coach. Before scheduling a phone call with her, I made sure to do my due diligence. Her résumé looks impressive, and she appears to be highly proficient in her field.
What does guys not dating have to do with the housing market?
Exactly. Besides, 50%+ of young men having no interest in dating? I call BS on that.
If they aren’t dating, they aren’t getting married and having families anytime soon….therefore not buying homes. Also those men tend to have lower earnings/earnings potential. Single men are less likely to buy a home compared to single women
It’s not hard to figure out. Single people are less likely to buy homes. If men aren’t dating and starting families, they have no reason to invest in homes. Property is usually purchased by people with dual incomes.
@@christiansantiagophotography Oh. I guess I didn’t get it because I am single and bought my own home. I rented for years and it was more expensive and I got tired of slum lords and restrictive stipulations. Thanks.
@@kt6332you are an exception to the data. Your personal circumstances don’t change the overall trend.
To all the naysayers, she did not mention generation X who maybe smaller demographically are on the same path as the Boomers. Both Generations X and Boomers are facing being part of the massive empty nester population owning single family homes with allot of vacant bedrooms. I read an article during Colvid how Millennials in their 30 something years going back to Mom and Dad an returning to those former bedrooms untouched of their teenage years. Like 18 to 20 years those vacant unoccupied bedrooms have never been touched and repurposed at all. My GOD!!! There several millions of these bedrooms like this an the numbers only increase yearly. The Boomers and Generation X are delaying and procrastinating on the sale of several millions of homes is a ticking time bomb for the US housing market. The woman in this video is thinking like I’m thinking knows the how unsustainable this will be for home prices because both the millennials and Gen z will see there is no sense in paying for homes that can not increase in value demand lower prices and shorter mortgage payments. The Boomers and Generation X own entire subdivisions but living past the family development cycle with no kids under the age 18 won’t last forever. Homes paid off or not the dam won’t hold up forever will breakdown. The flood will happen eventually. My prediction is full on 2030 with the first wave of Generation X hitting age 65. Both generations will be in a full blown price reduction civil war battle want to get out of these homes.
Lol a prediction that doesn’t manifest for 6-7 years is cute but really hard to estimate in magnitude relative to current circumstances.
@@nonexistent5030 I mentioned 2030s a conservative prediction but it’s far worse by that time. It’s all likely to start early by 2027.
People are broke. They aren’t buying houses.
Like such interviews full of numbers and trend narrations
Thanks! Your video calms me down everyday I watch it when the market is pumping! I’m going with your insights. It makes the most sense with where we are at in the cycle. The only thing that would make me think this cycle could be slightly different is the overall increased adoption of crypto since 2019 and all the hype with the BTC/ETH ETF speculation. Could the market stay held up this cycle by the anticipation of ETFs and the overall awareness that a bull run is coming? The surge is speculated to possibly be the beginning of a massive new uptrend, making it a crucial time for investors to pay attention, I’ve personally benefited from following Elizabeth Rose trading tactics, amassing 23 bitcoins in a short four weeks period, which speaks volumes about his expertise
she’s mostly on Telegrams, using the user name.
@Rose116 💯 ..that’s it
What a cherrypicked narrative. Like the rest of them. Reminds me of Princess Bride speculating on which bottle contains the poison. “Inconceivable!”
Millennials want to buy homes. They have not been affordable for anyone. The prices are outrageous with added inflation on everything.
Where? I’m continuing to see prices rise not fall.
Speculation n speculation. Let me throw some real facts: Credit card payments, Student loans and car payments are all catching up to most of Americans. Interest rates will play a role too. But Its nothing to do with “dating” haha . So, 2024 will be interesting to say the least.
“50% of men have no interest in dating”
“65% of college grads are women”
Women don’t want to “date down” so both stay single
Condo prices are falling in Chicago. I will continue to rent even tho I can afford a condo. A home is no different than a car both depreciating assets. I like moving to new building, new neighborhood, and new cities. Not trying to be stuck in a home like most are.
Single 30 year old man, making $200K, and refuse to date…
Im down for one night stands and 12 month leases!!!
One thing shes forgetting is inflation when she said boomers should sell even if the crash happens and that theyll still make a profit. A house in 1970 for $40k in todays money with inflation is worth $350k so as long as they can get more than $350k then theyll make a profit. Houses being too expensive isn’t the real issue the issue is wages just haven’t kept up with inflation since the 70s
I do not want to go Dating!!!
She is absolutely wrong if she thinks that student loan cancellation won’t impact voting. A lot of the far left will never go right, a lot of the far right will never go left… but the middle can be swayed; that includes the soft left, and the soft right. Also, those who previously sat on the sidelines can be swayed one way or another. Student loan forgiveness ABSOLUTELY matters.
Real estate is the main bulk of Canadian economy. The ‘experts’ are downplaying the size of this crisis so much that I personally consider them to be criminals
It’s as if the Canadian people are driving on a highway and the experts are covering Canadian eyes claiming it’s ok the highway is clear…
The crash will be way worst just because of these corporate propagandists and media manipulators