Summary of How Much Pain For The Housing & Jobs Markets Lies Ahead In 2023? | Mike "Mish" Shedlock

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00:00:00 - 01:00:00

In this video, Mike "Mish" Shedlock discusses the potential for further pain in the housing and jobs markets in 2023. He notes that the market is still overvalued and that patience will be rewarded. He also recommends caution when it comes to deploying capital, noting that treasury bonds are more attractive than they have been in a long time. Finally, he encourages listeners to speak with a financial advisor to get an idea of their individual situation.

00:00:00 Mike "Mish" Shedlock discusses the potential for layoffs in the upcoming year, noting that the unemployment rate might not change as much as people are worried about. He also discusses the inflationary trend in the job market and how it could lead to corporate buyouts.
00:05:00 In this video, Mike Shedlock discusses the job market and forecasts that it will get worse in the next year or two. He also points out that people should be concerned about the service sector and how it will affect the economy as a whole.
00:10:00 The GDP report for the third quarter showed a surprising surge in spending, which reversed yesterday. This may be indicative of a global economy that is slowly weakening.
00:15:00 In this video, Mike "Mish" Shedlock discusses the economic conditions in the United States and around the world, and how they might impact the housing and job markets in the coming years. He talks about how different groups of analysts arrive at different forecasts, and how sensitive the market is to changes in interest rates. He also refers to a recent study that found the Bay Area went negative on a year-over-year basis, confirming that high-end real estate is rate-sensitive.
00:20:00 The video discusses how the housing and jobs markets are likely to decline in the coming years, with unemployment possibly rising to six percent. The real estate consulting company John Burns estimates that, if a recession and unemployment rates stay at six percent, prices will be 20 to 22 percent higher than they are now. However, if the recession and unemployment rates rise to eight or nine percent, prices will be 30 to 40 percent higher.
00:25:00 Mike Shedlock discusses how Ivy Zellman believes that the upcoming increase in supply, combined with the increasing interest rates, will lead to a decline in housing prices. He also notes that there are other factors at play which could impact prices even further.
00:30:00 Mike Shedlock discusses how he thinks the housing and jobs markets will be affected in the next few years, and how the bond market may be preparing for a recession.
00:35:00 The transcript excerpt describes how the Federal Reserve may cut interest rates next year if there is no credit event, which is a sign of a recession.
00:40:00 In this video, Mike "Mish" Shedlock discusses the potential for further pain for the housing and jobs markets in 2023. He says that tightening is not done and that the market is still in a "buy" position. He also notes that the market may have already hit the bottom and that an investor who sold the top of the market in 2017 may be in for a tough ride.
00:45:00 Mike Shedlock discusses the potential for market pain in 2023, saying that the market is still overvalued and that patience will be rewarded. He also recommends caution when it comes to deploying capital, noting that treasury bonds are more attractive than they have been in a long time. Finally, he encourages listeners to speak with a financial advisor to get an idea of their individual situation.
00:50:00 Mike Shedlock discusses how much pain the housing and jobs markets will experience in 2023. He notes that rates are coming down, which will give people a chance to sell their properties before everything collapses.
00:55:00 In this video, Mike "Mish" Shedlock discusses the housing and jobs markets and how they may differ in 2023. He notes that while prices in some areas have decreased, there is still a lack of competition in the market, meaning that prices are still high relative to when things were really bad. He also points out that Jerome Powell, the newly appointed Federal Reserve chairman, has given hope to buyers that rates may still decrease in the future.

01:00:00 - 01:10:00

In the video, Mike "Mish" Shedlock discusses the potential pain that the housing and job markets may experience in 2023. He says that Twitter is planning to release abandoned handles, which would make it easier for wealthy people to connect with financial advisors. If you're interested in getting help from wealthyon, you can go to wealthion.com and fill out a short form.