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Economic Update with Matthew Gardner
Exclusive Invitation!!!
Tune in on Tuesday, October 6, 2020 at 9:00am to meet with Matthew Gardner, Windermere Real Estate’s Chief Economist LIVE and get your chance to ask him questions. He’ll be discussing the housing market, employment and the effects of COVID-19 on the local and national economy.
As one of the only real estate companies in the US that has a Chief Economist on staff, we have exclusive insights into the housing market, economy and government happenings. This is a one of a kind event for clients and friends of Windermere Real Estate in Colorado.
To sign up, please contact your Windermere Agent or message us to get the link. Seating is limited in digital meeting room so get your seat!
(If you can’t attend live, you can register to automatically get the recording.)
Matthew Gardner Weekly COVID-19 Housing & Economic Update: 6/1/2020
This week on “Mondays with Matthew”: Now that things have settled down somewhat following the initial impact of COVID-19, Matthew dives into the topic of mortgage rates. Will they go below 3%? Matthew discusses this and the factors that have formed his updated 2020 and 2021 mortgage rate forecast.
Another Meltdown?
This week our Chief Economist took a deep dive into the numbers to examine the current health crisis versus the housing crisis of 2008.
The reason why? People wonder if we are going to have another housing meltdown nationally and going to see foreclosures and short sales dramatically increase.
It turns out that the numbers show that today’s housing environment is quite different than 2007, right before the housing bubble burst.
Specifically, homeowners are in a vastly different situation with their mortgage compared to the pre-Great Recession’s housing meltdown.
In addition to much higher credit scores and much higher amounts of equity compared to 2007, the most significant difference today is in the amount of ARM mortgages.
Back in years leading up to the housing bubble, Adjustable Rate Mortgages were very prevalent. In 2007 there were just under 13 million active adjustable rate loans, today there are just over 3 million.
The number of those ARMs that would reset within three years was 5 million in 2007 compared to only 320,000 today.
It’s those Adjustable Rate loans resetting to a higher monthly payment that caused such a big part of the housing crisis back in 2008 to 2010.
Back then not only was people’s employment impacted, but many were facing increased monthly mortgage payments.
That’s why there were so many foreclosures and short sales in 2008 to 2010.
That is not the case today and one of many reasons why we don’t foresee a housing meltdown.
Why No Crash
This week we hosted our clients and friends for a special online event with our Chief Economist Matthew Gardner.
Matthew talked about a variety of topics that are on people’s mind right now including home values.
Matthew sees no evidence that home values will crash and actually sees signs that they may rise this year nationally.
Here’s why he says this:
- Mortgage rates will remain under 3.5% for the rest of the year so there won’t be any interest-rate pressure on prices
- Inventory, which was already at record-lows, will drop even further keeping the supply levels far below normal
- New home construction will continue to be under-supplied and will be nothing like the over-supplied glut of inventory that we saw in 2008
- The vast majority of employees being laid off and furloughed are renters
- Homeowners have a tremendous amount of equity in their homes right now compared to 2008 which will prevent an influx of short sales and foreclosures
If you would like to receive a recording of the webinar we would be happy to send it to you. Feel free to reach out and ask for the link.
Special Event
On Wednesday April 22nd you are invited to a special online event with Windermere’s Chief Economist Matthew Gardner.
He will be giving his insights into the U.S. economy and what that means for real estate along the Front Range of Colorado.
You will hear the answers to the biggest questions we are hearing from clients now like “do you think housing prices will crash?”
This event is exclusively for clients and friends of Windermere Real Estate. To receive the registration link simply comment on this blog or reach out to your Windermere real estate broker.
Many of you have heard Matthew speak at our Market Forecast events we hold each year in January. He is famous for making complex economic dynamics very simple to understand.
You will get useful and valuable information which will give you clarity about where the market is headed and when we can expect the economy to improve.
For example Matthew predicts unemployment to hit 15% by the end of June, but then to improve to 8% by year-end and 6% by this time next year.
Again, if you would like the link just comment on this blog or reach out to your Windermere broker.
Matthew Gardner – Will There Be A Recession in 2020?
Windermere Chief Economist, Matthew Gardner, answers the most pressing question on everyone’s minds: Will there be a recession in 2020? Here’s what he expects to see.
Save Your Spot
A quick, simple Fun Fact for you this week…
It’s time to sign up and register for our annual Market Forecast event.
We will be live in Denver on January 15th at the Wellshire Events Center.
And In Fort Collins on January 16th at the Marriott.
Both events start at 5:30. Choose which location works best for you.
Matthew Gardner, our Chief Economist, is the Keynote speaker.
Click the links above to RSVP.
It’s time to register for our annual Market Forecast event. We will be live at 5:30 on January 16th at the Marriott in Fort Collins. Back by popular demand is our Chief Economist Matthew Gardner. Save your seat HERE.
