One of the benefits of investing in real estate is the fact that you typically don’t experience massive run-ups, booms, or busts. Most people remember 2008 and assume that is the norm; however, it merely isn’t true. In the past, certain real estate asset classes have struggled, but generally speaking, having a 15%-20% correction doesn’t happen often. There have been many recessions which didn’t coincide with a reduction in national real estate corrections of any kind.
Our guest for today is Matthew Gardner who is the Chief Economist for Windermere Real Estate where he is responsible for analyzing and interpreting economic data and its impact on the real estate market on both a local and national level. Matthew also sits on the Washington State Governs Council of Economic Advisors; chairs the Board of Trustees at the Washington Center for Real Estate Research; and is an Advisory Board Member at the Runstad Department of Real Estate.
Today we are going to discuss…
- What the average FICO scores are and what this tells us about the state of the real estate market
- What the average down payments are and where this fits in historical context
- The trade war’s impact on the real estate sector
- Why development has, for the most part, been exceptionally absent despite a massive run up in prices