Artwork for podcast The Higher Standard
The Victory Lap, Real Estate Update, Layoffs and Q&A
Episode 6730th August 2022 • The Higher Standard • Chris Naghibi & Saied Omar
00:00:00 01:09:52

Share Episode

Shownotes

No matter the position still being maintained by Dave Ramsey and other social media influencers, the housing recession is upon us. The National Association of Realtors has actually called it a recession, among others, and no amount of wishful thinking will make it not so.

In today's episode of The Higher Standard, Chris and his co-host take a victory lap as the numbers and the pundits appear to agree with what they have been calling all along: A housing recession.


They discuss recent comments by Nancy Wallace, the Lisle and Roslyn Payne Chair in Real Estate Capital Markets at Berkeley Haas, who has stated that non-banks are poorly capitalized, as well as the decision by Loan Depot to close down their entire wholesale division.


Chris shares a rather scary report from Redfin, where analysts said real estate investors bought 18.4% of homes sold in the fourth quarter of 2021, up from 12.6% a year earlier. That means real estate investors effectively own 20% of the market now nationally.


They also explore a recent Wall Street Journal article stating that 4 in 10 employers are rescinding job offers, and a similar amount are reducing or eliminating the sign-on bonuses that had become common to attract talent in a tight job market.


This is a show you do not want to miss! Join Chris for this fascinating conversation.


Enjoy!



What You’ll Learn in this Show:

  • Why Nancy Wallace, the Chair in Real Estate Capital Markets at Berkeley Haas, has stated that non-banks are poorly capitalized.
  • A report from Redfin, indicating that real estate investors bought 18.4% of homes sold in the fourth quarter of 2021, up from 12.6% a year earlier.
  • Why roughly 4 in 10 employers are rescinding job offers and reducing or eliminating sign-on bonuses, a common tactic in a tight job market.
  • And so much more...