Jack Selby

Most people won't do that.

What is your prediction then for home prices over the next five to 10 years?

And why should people listen to you specifically?

Yeah, I have to say, when we were planning for this podcast, you sent me your research, this incredible spreadsheet.

I'm going to put it up on the screen here for everyone to see.

The level of detail that you put into that, to me, is incredible.

So what is that telling you about the housing market?

So who's getting screwed right now?

Because what about the people who bought the last two to three years where they're at 5%, 5.5%, 6%?

So if prices are not going to be falling, is this just the new normal that housing is going to be unaffordable for most people?

Why do transactions matter, though?

Why is it not just what the price is?

What is your prediction then for home prices over the next five to 10 years?

It's funny, JP Morgan also just said that their prediction was real estate was going to be zero, which actually means adjusted for inflation, you are negative.

Correct.

Allegedly 3%.

Anybody believe that?

But inflation could be significantly higher than that.

I believe inflation is probably more like 5% to 6%, which means in real terms, real estate is going down a few percent every single year.

Hey, now, really quick, I just want to say as a reminder that Father's Day is coming up and I know what most of you guys do.