Unlock the power of data-driven insights
Harness the potential of accurate detail, social search, access comprehensive contact information, and effortlessly export data to streamline your workflow.
If you’ve used other tools in the past, you’ll instantly recognize the superiority of our solution.
FREE Trial – Click HERE to experience the difference firsthand
** RETR is Better **
A recent Gallup survey has revealed that a mere 21% of Americans believe it’s a good time to purchase a house, tying with last year’s record low. This overwhelming pessimism towards the housing market may seem disheartening at first glance, but as Marcus Aurelius once said, “You have power over your mind – not outside events. Realize this, and you will find strength.” In this blog post, we’ll explore how this current housing crisis could lead to opportunities for the mortgage industry and why green energy mandates may be exacerbating the problem.
The Inevitable Market Disruption:
The current pessimism surrounding home buying is the first step in an inevitable market disruption. As demand falls, listings will accumulate, and prices will drop. While this may seem like a short-term pain, it’s a necessary step towards creating real and permanent opportunities in a thriving mortgage market. Trust me, the last thing you want to see is for rates to drop. Instead, we need to embrace the pain and kick-start real change.
Inventory Woes:
To put the current housing inventory into perspective, we have about the same inventory as we did back in October 1981, when the U.S. population was 229.5 million. Today, with a population of 333 million, we have roughly two-thirds of the inventory we had over 40 years ago. This stark comparison highlights the dire need for more housing inventory.
Green Housing Mandates Pushing Americans into the Red: According to the Heritage Foundation, new “green” energy mandates are set to add $31,000 to the cost of a new home. Amid a cost-of-living crisis, renters are already struggling to pay their rent on time, with half of them reporting difficulty. Americans need relief, not regulation, in their quest for affordable housing.
A Moratorium on Green Energy Mandates:
Just as the Federal Reserve is attempting to curb inflation by raising rates and reducing their balance sheet, the unintended consequences of green financing mandates may be making housing even less affordable. I propose a moratorium on new green energy mandates until we can all actually afford to live indoors again.
The Price We’re Paying:
The current housing crisis bears an eerie resemblance to the Great Depression. Many young people today don’t believe they’ll ever achieve the American dream of home-ownership that their parents and grandparents enjoyed. The worst inflation in 40 years, rising interest rates, and a collapse of real earnings have led to a significant financial step backward for countless families.
Conclusion:
While the current housing market may seem bleak, it’s essential to view this disruption as an opportunity for the mortgage industry. By increasing housing inventory and reevaluating green energy mandates, we can work towards creating a more accessible and affordable housing
