1563: Pandemic Housing Prices, Ari Rastegar, COVID Real Estate Outlook
Jason Hartman shares some facts and figures as a prelude to\xa0pandemicinvesting.com\xa0before interviewing Ari Rastegar of Rastegar Property. Find out why we are living in a time of cheap housing and compared to what or when.\xa0
Ari Rastegar, the founder of Rastegar Property Company, joins Jason Hartman today to share his insights on investing in many sectors, with a particular emphasis on multi-family housing. Will retail and commercial suffer indefinitely, or will this all pass? If you put in the work, 2020 is an incredible opportunity to invest.\xa0
Key Takeaways:
[1:45] 1.3 million, the number of existing homes for sale at the end of July 2020.
[3:40] The famous Chicago hotel, The Palmer House, worth substantially less.\xa0
[5:45] Right now, housing is cheap, thanks to Jerome Powell.
[9:00] Let\u2019s compare median home prices and interest rates from 1976 to today.\xa0
Ari Rastegar
[12:15] Discussing rent collection issues and eviction moratoriums, but during COVID-19, 90% and more of rent was still being collected.\xa0
[15:45] In the single-family space, we\u2019re seeing a surging of home prices.\xa0
[29:00] In regards to shadow-demand, the majority of US young adults live with their parents.\xa0
[23:10] California and New York are the \u2018land of the\xa0flee,\u2019 and Texas is the \u2018land of the\xa0free.\u2019
[26:00] Q2 sales of Manhattan apartments down by 54%
[30:20] Risk controls in the sub-prime market have been put into place to protect the residential side of recession effects.\xa0
[31:00] Retail and commercial will suffer longer.
[32:15] Ari believes that work-from-home is entirely unsustainable.\xa0
[37:10] \u201cPeople are going to miss opportunity because opportunity shows up in overalls.\u201d -Edison
Websites:
Jason Hartman PropertyCast (Libsyn)
Jason Hartman PropertyCast (iTunes)
1-800-HARTMAN