So many headlines but so little context…

So many headlines but so little context…

Nerd Wallet, an online platform that compares all things consumer financial. Credit Cards, Mortgages, unsecured loans, car loans and the list goes on.  Many of the companies that Nerd Wallet promotes are paid advertisers which I always assume skews the validity of the comparison but that is a story for another day.

Anyway, they recently conducted a survey of their subscribers about the housing market and here were the results,

1. 83% of those polled say buying a home is a priority to them.
2. Nearly 28 million (11%) of Americans plan to buy a home in 2023. Yet only 5.95 million existing homes sold in 2022.
3. 70% planned to buy a home in 2022 but failed. Some made offers that were not accepted and others could not find affordable homes.
4. 67% said they expect an imminent housing crash.
5. 61% told pollsters current mortgage rates are unprecedented, meaning they have never been this high before
6. 57% feel worse about their ability to buy a home in 2023 because mortgage rates will increase.

Reading this poll made me very frustrated because it tells me the media spin is winning over the opinions of homebuyers. Buying a home is the largest asset that most people have AND by age 66, it is where 80% of all Americans wealth lies. I am not just saying this because it is how I feed my family, but I truly believe that buying a home is the single biggest thing you can do to build a stable foundation and wealth.

A home is an investment, yes, but it is so much more than that. There is no way to time the best time to buy and if you did you only know it because you looked in the past. If you have any of these believes that the Nerd Wallet poll uncovered…call me. I will show you with data why some of these are unfounded.

Thanks for reading!

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