Abigail writes: Are we in a buyer’s market?
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Welcome back to real investing. I’m Tim Herriage. Thank you for coming back by today. Abigail rights. Are we in a buyer’s market? Abigail? That’s a great question. It’s something that if you’re watching Facebook and the social media economist, I’ll tell you this. Sometimes it can feel like we’re in a buyer’s market, but my answers, no, I do not think we are in a buyer’s market. There are, there is no data that tells you that supply outweighs demand, right? That’s what a buyer’s market would be. You would have to have more supply than demand. I still feel like there is less supply than demand. Now, can you find a subset of a market? Like well, million dollar houses in Dallas, there are, you know, slowing down. Yeah, sure. Right. I’m sure. You know, the way I look at it and honestly is second homes, vacation homes, luxury homes, high end homes, discretionary homes, frankly, neighborhoods where people keep all their money in the stock market.
Yeah. They’re probably slowing down because those people have lost 20, 30% of their money this year. Now we are coming out of a bear market technically as of yesterday with the NASDAQ 100. But I don’t know. I mean, I feel like when I look at the me median home price and I look at, uh, monthly reports on the dollars per square foot, it’s still going up. Right? I mean, so I don’t know how the median home price and the median price per square foot can be going up. And we’re in a buyer’s market. Y that would have to be the opposite, right? You would have to see true median or average prices going down. Now, can you buy a house, fix a house and sell it for 10% more than when you bought it probably died, uh, 10% more than it was worth when you bought it.
Probably not. Can you run your math off of just the high comp and the high comp alone? Yeah, probably not. But that doesn’t mean we’re in a buyer’s market. I think we’re in a very healthy market. It’s slowed down a little bit. Now we have about two months worth of inventory instead of two days, when mind you four to six months is normal. Uh, yeah. I don’t know. We’re not in a buyer’s market. That’s the answer period plan is day, but Hey, you know, hot opinion, uh, listen to your friend on Facebook that has $5. That’s, you know, <laugh> now we’re not in a buyer’s market. It’s slowed down a little bit, but you still, you know, you got five, we’re missing 5 million houses, right? And every day the population in this nation goes up and we have less houses and food, water, shelter, people gotta have a place to live.
So, uh, you know, we’re still way short on supply way high on demand. And that alone says we are not in a, a buyer’s market. So Abigail, thank you for taking the time to ride in. I hope that answered your question. If not hit me up, let me know how I can clarify for you. If you’re listening and you would like to ask me a question and have me read it out on one of these shows hop over to, Ihavelunchmoney.com. Submit your question and I will do my best to get to it. Thank you for spending your time with me today. I’ll see you tomorrow.
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