Jason Hartman calls it The Suburban Tsunami; others have referred to it as The Covid Effect; it all amounts to one thing: a mass exodus of big cities like NYC and San Francisco, and a migration to the suburbs. Jason Hartman talks about the big move, the university debt enslavement complex, and home prices that one man says are rising too fast.
Jenna Weinerman, VP of Marketing from updater.com, joins Jason Hartman to share some facts and figures on Americans’ move out of big cities. Updater is an app that helps to complete all of the peoples’ moving-related tasks. This app has a lot of moving data collected from real estate businesses across the US.
Thursday: Charlotte Market Profile Webinar: www.JasonHartman.com/Charlotte
[1:30] The Suburban Tsunami!
[8:45] The university debt enslavement complex, and massive vacancies in college towns.
[13:45] Lawrence Yun, chief economist of NAR, “home prices are rising much too fast.”
[15:30] 120% gross ROI..in ONE year!
[22:00] What is Updater?
[23:00] With Updater, they can survey one-third of the market.
[25:00] Jenna explains the difference between moving and a relocation event in terms of the pandemic.
[26:45] Is there support for the anecdotal evidence that people are moving mid-pandemic?
[29:45] There are many bidding wars across the country with this unusually long real estate season.
[31:00] Zoom fatigue. But the tech is there to work from home.
[31:45] Three more national moving trends starting with: the distance that someone moved.
[34:45] Why did mobility spike? Why are people moving in this period?
[35:15] Are people leaving the city?
[38:30] Warm southwest climates are receiving more new residents.
[43:00] You can’t always take data at face value.