Even if something feels like a huge problem, it doesn’t mean it’s actually a huge problem. Somewhere in the noise is a SOLUTION. Conversations around housing affordability are bleak these days, but the numbers show a different story. LISTEN UP.

The real estate game is changing - screw that - it already has and no-one is REALLY talking about it....until now. Real Estate of Tomorrow holds conversations on crucial topics needed to successfully navigate the shifting real estate industry. In this bi-weekly podcast we break down the massive shifts in real estate and tell you the specific steps you need to take to kick a$$ in the coming years, just like we are. We’re your hosts, Edgardo Balentine and Scott DiGregorio, giving you the rundown on real estate from decades of experience and the new generation.

We’re SUPER PUMPED for today’s topic. It’s on everyone’s mind. The rumor is that nobody can afford to buy a house. We get it. It’s kind of believable when you look around and home prices have not gone down, interest rates have not gone down, and inflation is the highest it’s been in the last few decades. We don’t get stuck on fear. We’re here to give a DATA-DRIVEN conversation on why affordability is not a huge problem in the current market.

Listen up to learn the key factors behind affordability in the current housing market. Affordability is an issue, but the mishap is that people are comparing the present market to the market during 2006. In case you forgot, that’s right before the Great Recession. We’ll compare the two markets using REAL NUMBERS from US data points like average home price, average interest rate, and average income. Find out why the market is not as bad as what the media wants you to think.

What are you doing today to be relevant tomorrow? What are you doing today to be successful tomorrow?

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Time stamps:

[00:36] - We’re discussing affordability in the current market.

[03:22] - Let's take it back to 2006.

[05:16] - You don’t use 100% of your income to qualify for a mortgage.

[07:28] - Disclaimer: Since taxes vary, we’re sticking with the average.

[09:06] - You do need to look at the distribution of wealth throughout the US. Here’s what we noticed.

[11:24] - People have no idea what they’re spending money on most times. 

[13:54] - We need to have budget conversations.

[16:15] - Guide clients through financial literacy, and you become invaluable.

[18:10] - The alternative is renting, but is it worth it?

[20:19] - Have real conversations about finances and home ownership.

[22:54] - Sometimes you don’t get the ideal place, but you can take a step closer to it.

[25:11] - Don’t get sucked into the fear the media promotes.

[27:26] - People seem to miss this simple math in the housing market.

Links:

Real Estate of Tomorrow

Edgardo Balentine 

Scott DiGregorio