Mortgage Marketing Radio’s Geoff Zimpfer and Logan Mohtashami on why the housing market is winning
July 17, 2020
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In today’s Daily Download episode, Mortgage Marketing Radio’s Geoff Zimpfer and HousingWire Lead Analyst Logan Mohtashami discuss why the U.S. housing market is winning in spite of the economic impact coming out of the COVID-19 pandemic.
For some background on the interview, here’s a brief summary of Mohtashami’s latest HousingWire column:
The U.S. economy started the year off in an expansionary mode. Retail sales were positive year over year, job openings were roughly at 7 million and the housing data for the first time in a long time started to outperform other sectors of the economy. Existing and new home sales hit cycle highs, purchase application data showed steady double-digit year over year growth and housing starts had almost 40% year over year growth in February.
Then we were hit with COVID-19, and the fear of this virus along with the economic decline due to the stay-at-home orders whipped the housing bubble boys into a frenzy of crash calls.
My long-standing core thesis has been that the housing market would have the weakest recovery from a crash in the years 2008 to 2019, but it would improve in years 2020-2024 because U.S. demographics would become favorable for housing.
This is the time frame where we should see 1.5 million total housing starts and the purchase application index will get over 300.
The Daily Download examines the most compelling articles reported from the HousingWire newsroom. Each afternoon, we provide our listeners with a deeper look into the stories coming across our newsroom that are helping Move Markets Forward. Hosted by the HW team and produced by Alcynna Lloyd.
HousingWire articles covered in this episode:
