California Housing Market Predictions | The Financial Commute (Ep. 111)

Описание: This week’s episode of THE FINANCIAL COMMUTE features a special session recorded live from Morton Wealth’s 2024 Investor Symposium. Host Chris Galeski welcomes Mortgage Advisor Brian Farwell and Thousand Oaks City Council Member Mikey Taylor to discuss the California housing market.

Here are some key takeaways from their conversation:

• Brian highlights that while low-interest rates previously boosted affordability, recent increases have made it difficult for buyers to afford homes, particularly as property prices have not decreased to offset these rates.

• Mikey explains that the supply shortage in California dates back to the 2008 financial crisis, which drastically reduced new developments. Ventura County alone now faces a 33,000-unit shortage.

• If interest rates decrease, more households would qualify to buy, increasing demand faster than any additional supply from homeowners who might then choose to sell.

• First-time buyers are often relying on co-signers or family gifts, while non-QM (Qualified Mortgage) loans and retirement account withdrawals are used as creative financing methods.

• For individual buyers, both Brian and Mikey suggest that purchasing a home now may make sense for long-term plans. For investors, they are buying multifamily properties despite challenges, leveraging current market conditions and California’s slow-building process to secure profitable assets over the long term.

Looking to watch more of the live sessions from our 2024 Investor Symposium? Stay tuned as we release more episodes like these in the coming weeks such as Replacing Income in Retirement, Liquidity: Blessing or Curse?, and New Trends in Investing.

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‍Disclosure: Information presented herein is for discussion and illustrative purposes only. The views and opinions expressed by the speakers are as of the date of the recording and are subject to change. These views are not intended as a recommendation to buy or sell any securities, and should not be relied on as financial, tax or legal advice. You should consult with your financial, legal, and tax professionals before implementing any transactions and/or strategies concerning your finances.

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