Housing Market Update 2021 | How Big Will The Bubble Get? This is the longest time in history that we have gone without a market correction! Wait.....that was from 2019 so nevermind! But currently, right now in the 2021 housing market, we are seeing things we have never seen before. We've seen housing bubbles before but none like we have seen right now! This unsustainable type of housing market activity can really set us up for a housing market crash worse than the 2008 market crash. There are things being done at the moment to slightly offset the looming housing market crash BUT is it enough? Where does the housing market currently stand, will it be a small correction or a giant housing market crash? 0:00 Intro 1:40 The data about the housing market bubble 2:55 The reason for the housing market bubble data 4:15 Does A number of new buyers play a role? 5:42 The data of home buyer activity 6:40 Final Thoughts about the housing market bubble The housing market crash has been a big topic in the last year and yes I still do believe slash hope that the housing will face a correction with a slower decline as opposed to a big crash with all the artificial cash the Fed seems to continue to pour on. But how big will the housing bubble get in this current real estate market? A big crash or a slow decline is how the market will respond to this bubble. Let's talk about the data on what our housing bubble currently looks like. How high are prices in the 2021 housing market relative to traditional measures? Now obviously a big reason for this is the record low inventory, but just how low is it in the 2021 housing market? Well to sum it up efficiently this year we have 17.3% fewer newly listed homes on the market for this time last year along with a whooping 49.6% drop in number of homes available for sale. Are the 2021 real estate market prices discounting unsustainable conditions? Well we know that housing prices are at extreme high levels currently but lets see how are economy is doing. Currently we have almost 3 million Americans that are still in mortgage forbearance. Nearly 20% of all renters are behind on rent with the average renter being behind $5,600 equaling about 4 months. How many new buyers who have not been involved previously, entered the 2021 housing market? Well according to National Mortgage professionals, in 2020 an astounding 2.38 Million Americans entered the housing market as new first time home buyers, which is a 14% increase compared to the previous year same time. Which was 2019. How broadly bullish is sentiment of the housing market? As in… are there people out there that think this isn't a housing bubble? As a matter of fact, some of the quote on quote experts forecast that this housing market will just continue on. While other sites have gone as far as to predict that the rest of 2021 along with 2022 will continue to see similar growth. Are purchases being financed by high leverage? Are people behaving economically as if this will last forever? Now my personal thoughts are yes to both of these questions. I absolutely do think purchases have been extremely leveraged in not just the housing market but also the commercial real estate market the last 5 years and I also do believe that there are investors and organizations that are behaving economically as if this will continue on and on. 😃 Thanks for Subscribing & Liking our Video! 📧 ⌨️ FREE 7 Day Trial To PropStream Real Estate Investing Software: http://reisoftware.thekwakbrothers.com 📊 Pay Off Your Mortgage In 5-7 Years (On Average): https://www.youtube.com/watch?v=eGVn9iq1e6c 💻 JOIN OUR FREE FACEBOOK GROUP FOR LANDLORDS & PASSIVE INCOME: https://www.facebook.com/groups/bestreigroup 📡 PROTECT YOUR ONLINE DATA AND ACTIVITY WHILE CLOSING DEALS AND GENERATING NEW LEADS WITH NORDVPN: https://go.nordvpn.net/aff_c?offer_id=15&aff_id=40858 🔊 Our Podcast: 🔹Spotify: https://open.spotify.com/show/7pnHJSNl7vPVFzq69IzC6B 🔹iTunes: https://podcasts.apple.com/us/podcast/first-deal-experience/id1282240923 📧 Hire the Kwak Brothers to Speak: info@thekwakbrothers.com #housingmarket #thekwakbrothers #realestate ======================== ---DISCLAIMER--- The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.