This week, host Byron Lazine shared an Ivy Zelman quote that is especially fitting in today’s market:
We would never suggest a real estate company could be successful without fully understanding local market trends. But ignoring macro trends, or assuming they do not carry the same weight, would be an equally erroneous suggestion. In our experience, the most effective industry leaders appreciate the appropriate balance between the two ends of the spectrum.
This is the reason why BAM started the Hot Sheet—to provide a place for real estate professionals to learn about and understand all the industry’s macro trends. While Byron covers some local trends, it’s your job to go even deeper into the micro trends in your local market.
Because when you have a balance between the two—that’s when the magic happens. To build authority and become the expert, you must be able to articulate both: what they’re seeing in mainstream media headlines (and what those headlines actually mean) and how those headlines relate to what’s going on in their local market.
So to ensure you don’t miss a thing, the week’s Hot Sheet recap provides a link to every segment covered throughout the week.
Why the housing Market Recession Isn’t Over
Byron started off the week with a show that covered a housing inventory update and rising mortgage rates. Plus, what experts have to say about the housing recession and PacWest’s real estate loans.
Click any of the timestamps below to watch:
- 02:46 Housing Inventory Update
- 08:16 Rising Mortgage Rates
- 16:06 Housing Recession
- 21:48 PacWest’s Real Estate Loans
Goldman Sachs Disagrees with Fannie Mae
Tuesday’s show started with a statement from Goldman Sachs on the housing market and a ceiling that matters, according to Mortgage News Daily. From there, Byron discusses why Lowe’s says DIY projects are weakening, and the JPMorgan Chase CEO on commercial real estate loans.
Watch any of the segments here:
- 03:28 Goldman Sachs’ statement about the housing market
- 09:55 A Ceiling That Matters
- 16:56 DIY Market
- 19:38 JPMorgan Chase CEO
Zillow’s Home Price Forecast: Super Bullish Compared to Others
On Wednesday, Byron shared Zillow’s home price forecast, including how bullish it is compared to Fannie Mae’s. Plus, what’s ahead for small-time investors and a drop in mortgage demand.
Tune in here:
Housing: The Reason for the Next Fed Rate Hike?
Byron’s discussion on Thursday covered three main topics, with the first being minutes from May’s Federal Open Market Committee (FOMC) meeting. Next, he shared Redfin’s report on home price declines, and why KCM Founder Stever Harney says the median sales price is worthless data in today’s market. In the final segment, Byron reviews metro-to-metro home price growth variations.
Tune in to any of the segments below:
44% Decline in NYC Office Values Will Bring Huge Loss
To end the week, Byron discussed why the residential housing market remains strong, with an all-time low in mortgage delinquencies. From there, he turned to the real estate sector that is in trouble, with commercial office values declining in New York City and other major cities. The show ended with an update on inflation.
Click on any of the timestamps below to watch:
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