Part 5/11:
Dow articulated his views on the housing market, which sees new supply stagnating at levels not experienced since the financial crisis. He lamented that high mortgage rates were severely dampening transactions. He suggested that the stagnation in housing prices and falling new tenant rents were early signs of a significant correction in the housing sector.
With the influx of millions of illegal immigrants, he explained how governmental support to this demographic had inadvertently propped up the rental market, suggesting that once this support diminished under the Trump administration, the housing market would face considerable pressures to correct itself. Dow’s insights painted a concerning picture of the housing market’s future, especially with rising vacancy rates.