Melody Wright, author of M3 Melody Substack, returns to the show for episode 284 where she delivers a stark assessment of the housing market.
Sponsor: This episode is brought to you by Monetary Metals.
https://monetary-metals.com/julia
Links:
YouTube; https://www.youtube.com/@m3_melody
X: https://x.com/m3_melody
Substack: https://m3melody.substack.com/
Timestamps
0:00 Welcome and introduction - Melody Wright returns to the show
1:26 Big picture housing outlook - abysmal spring and summer selling seasons
3:42 New vs existing home price inversion - builders offering major incentives
5:02 First-time home buyers at record lows since 1980s tracking
7:17 Investment-driven housing market - not about homeownership anymore
9:33 Owner occupancy fraud - FHA program abuse by investors
12:06 Mortgage fraud prevalence - 30% chance when investors involved
13:46 Julia's first-time homebuyer dilemma - waiting for prices to correct
15:04 Demographics and housing supply - 15.6 million boomers leaving by 2035
17:52 North Carolina housing market turning - hope for buyers
19:15 The "Zest effect" - emotional attachment to home value estimates
20:20 Housing bubble worse than 2008 - fueled by speculation
22:13 Insurance crisis - 50% increases tipping people into delinquency
23:05 October 1st FHA changes - loan modification program ending
23:25 Spring/summer seasons characterized as "abysmal"
24:20 Tracking 2008 patterns - seasonal price peak already passed
26:28 Fed rate cuts unlikely to impact housing significantly
28:13 Where to find Melody's work and parting thoughts
