First-time buyer

But while I'm with them, while you're watching this, y'all, there were just too many housing stories on my desk to skip a week.

So we are here, and we're gonna talk about this craziness around rent stabilization in Santa Barbara, also known as rent control.

We're gonna talk about qualification for mortgages, and we're talking about the new bill that's being rumbled about in Congress for first-time buyers and their down payment needs.

And the reality is, when you look at all of these stories and you read all the headlines, and of course, it's election season, the midterms, one of the hot topics is housing.

The question is, what are we actually, as a society and a government and as individuals, what are we willing to change to make housing more attainable? Because when we say affordable housing, it immediately goes into this idea of Section 8 housing vouchers, and frankly, a lot of people remember good times.

They think they're creating when they print dollars.

They're not creating.

They are diluting the money supply, and that means when you hand first-time buyers extra dollars, there's now more first-time buyers, and that's good.

So to discover how to beat the rates, there are things that you can do so that you still take advantage of the insane buyer leverage points that are going to be happening this fall and winter.

Just recently, I released a bunch of episodes where I went deeper than I ever have before on the solutions for first time homebuyers beating high interest rates.

That's episode 529.

But if you go back and you start episode 522 and you listen straight through eight episodes to 529, those eight episodes, they're five and a half hours of math and solutions, even in today's seemingly super difficult first-time homebuyer market.

It's going to help you out.

I'm going to keep reporting here.

I want to give you all the education I can giving it away because I want to encourage frustrated first time homebuyers, especially right now to get out there and hire a professional team.

And seriously, whether it's one of our unicorns or a unicorn that you go out and find yourself bitching, I don't care.

And it was anywhere from, you could still buy a house in like Capera for about 350 grand then.

And it was about 450 for a Holland Park, bad camp hill karina karina heights post-war three bed um and then you got up into your kind of mid fives from morningside norm park and then it was like 650 in bloomberg but it was like average was about 450 across brisbane back then then it kind of jumped to 650 over the next kind of 10 years then it jumped to 850 pretty quickly then it jumped to a million dollars average first time buyer price for the last couple years has hovered around that kind of one two yep which is an extortionate amount of money to think about somebody investing that level of deposit let alone like the the deposit is a 50 lvr if they were in a position to buy in 2010 right which just shows you what real estate has done over a relative short period of time like we're talking about people holding long term and you bought in 2010 you haven't really hit your long-term hold just yet right so There's a lot of first home buyers who, if we come back to question one, why aren't they buying now? There's a lot of nervy first home buyers who are hoping that there's a correction and they time it perfectly for sure and they can buy a house for around a million dollars pick the bottom right it's really hard to pick the bottom it's also really hard to pick the top it's kind of like buy what works for you and your budget then and delete the app but for anybody who is listening to this or watching the clip on tick tock can you buy a house under a million bucks in brisbane

You can.

Is it in Brisbane though? It's on the verge of Brisbane, you know, LGA.

If you're serious about it and you've lined all those things up during the week, you're going to put yourself in a really good spot.

Awesome.

Luke Broekman, First Time Buyer podcast.

Thanks very much.