460: The Fast Road to FIRE and Our Housing Market Crash Predictions | Ask Mindy and Scott
Episode Details
Will the housing market crash? If you’re like most Americans, the economy is starting to feel a bit unsettling. But, with so many homeowners locked into low mortgage rates or owning their homes outright, is there even a possibility of a housing crash, regardless of whether a recession does happen? The answer isn’t as straightforward as most people think, and if you don’t know the facts, you could get caught off guard.
Mindy and Scott are back to answer YOUR money questions. This time, we’re taking questions from our Facebook Group, and MANY have to do with mortgage rates, home sales, and a potential crash. First, we answer what could cause a housing market crash in the near future. Then, a listener asks whether or not they should sell their home to pay off credit card debt. An investor wants to know if paying off their mortgage early beats the stock market, and a divorcee seeks to sell her home because of “bad juju.” The problem? She’s got a killer mortgage rate. Finally, we’ll debate stocks vs. real estate as the best path to FIRE!
Got a money question you want to ask Mindy and Scott? Head over to the BiggerPockets Money Facebook group, or click here to submit your question on our next Q&A episode!
In This Episode We Cover
Could the housing market crash? And if so, which areas will be most affected?
Crazy credit card debt and whether selling your home is worth being debt-free
Should you stay in a house you hate just because you have a low rate?
When leaving your business to go back to a W2 makes sense
Paying off your mortgage early vs. investing in stocks when rates are sky-high
The fastest path to financial freedom and whether stocks vs. real estate gets you there sooner
And So Much More!
Links from the Show
BiggerPockets Money Facebook Group
Finance Review Guest Onboarding
Grab Scott’s Book, “Set for Life”
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Apply to Be a Guest on The Money Show
Podcast Talent Search!
Money and Relationships: How to Have “The Talk” Before It’s Too Late w/Vivian Tu
Seriously—Why Hasn’t the Housing Market Crashed Yet?
Should You Pay Off Your Mortgage Early or Invest?
I Will Teach You To Be Rich Episode 80
Click here to check the full show notes: https://www.biggerpockets.com/blog/money-460
Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email us: moneymoment@biggerpockets.com
Learn more about your ad choices. Visit megaphone.fm/adchoices
See moreIn this episode of the BiggerPockets Money Podcast, hosts Mindy Jensen and Scott Trench delve into the realm of financial independence, providing their insights and answering questions directly from their Facebook group. The episode opens with Mindy and Scott discussing the benefits of shopping for groceries midweek to tap into potential sales before diving into sponsored segments that focus on easing property management with Enago's software and investing in rental properties through Rent to Retirement's attractive financing offers. The hosts also touch on home security solutions with SimpliSafe and then launch into the main discussion. The central topic of the podcast revolves around the current state of the U.S. housing market and its risks or potential for a crash, given various market factors such as mortgage interest rates and housing supply. One salient point is that even with low mortgage rates, job loss and lack of savings can lead to foreclosures, indicating that other economic factors are at play beyond just the availability of housing and lending rates. Furthermore, the hosts speculate on market dynamics, noting that while a crash similar to 2008 seems unlikely, there might still be regional price adjustments due to new construction and rising interest rates, which affect the market's affordability. There is a level of uncertainty in the market, particularly in areas like Florida, Texas, and western states, where new construction might impact pricing and rent in the near future.