This is a YouTube video titled "🏡 Today’s Housing Crisis, Explained 🏡" containing a monologue by Derek McGowan from January 26, 2022, discussing the housing market dynamics post-2008, including home building trends, foreclosure impacts, and changes in buyer behavior influenced by the pandemic and remote work.
Is housing crisis explained over time. There were 20 million new homes per decade built after 2008 where there were foreclosures everywhere. People could get a great deal on the house down the streets. They wouldn't go build a new house. The builders pulled back and only built 6 million new homes during the 2010 decade, way behind the historical demands. Plus the people that lost their homes, they're back on their feet, back in the market. Record amount of first time home buyers. Second home and investment properties have become super popular since the pandemic. And now people can reshuffle around by keeping their jobs and working from home. So a lot of people entering the market more so than ever before. Less homes than ever before.
