Dave:
We have been hearing for months that the housing market is slowing down, but let’s be honest, it’s not just slowing down anymore. The housing correction is here, and I’ve been saying this for a few months now, but I think it’s time that we dive into the topic thoroughly. What is a correction? Could it get worse? How long will it last? What does this mean for your investments today we’re facing the facts and figuring out how to address them head on. Hey everyone, it’s Dave. Welcome to On the Market. I know I started this episode talking about a housing correction and that is what we’re getting into today, but it’s not because I am trying to be a downer. It’s because my job is to tell you what is actually going on in the housing market, not to mask the realities of the market. Now, I’ve been trying to do this for as long as we’ve had this show.
I told you a year ago, two years ago, that I didn’t think rates would be coming down as much as people thought. I told you that I thought prices would be flat this year, and now I’m telling you that we are in a national housing correction, and I’ve been saying that casually in episodes the last couple of weeks or months actually. But I think it’s time that we actually just talk about what that is because I know when I say that it can sound scary, but it doesn’t have to be. The market and what’s going on in the market is not your enemy. It’s actually just your guide. And if you know what’s happening with the market, you can be guided to make the right adjustments and still make profits and still do great deals in real estate. So in today’s episode, that’s what we’re going to focus on.
We’ll start with a conversation about what is a correction in the first place and is it a bad thing? We’ll talk about how different regions of the country are performing. We’ll talk about why we’re in a correction and how long it might last, and of course we will talk about what you should…