We thought we should just speak on the things that are really impacting the market today and the future of real estate. Right now real estate is the strongest investment vehicle that everybody's talking about.
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We will often tell you we're not the masters of studying economics or market shifts and data reports and things like that. We do look at them, we do read articles. Most importantly, we surround ourselves with the people who are the experts. They've got good knowledge and basics behind them to be able to more accurately have a good foundation for recognizing the trends and get a sense of what may be ahead.
1) The pandemic - So many things have changed and shifted because of COVID-19.
2) Labor shortage - a lot happened during the pandemic and a lot of it has affected the workforce.
3) Supply chain issues - the labor shortage dominoed into the supply chain
4) Rising interest rates - response to inflation
5) Millennials renting instead of buying - It may be their lack of desire to buy a home or they cannot afford a home because prices are going up so they're starting to rent.
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