The real estate market will continue to appreciate in the long term, making affordability increasingly difficult for retail buyers.

“The market's going to continue to go up. It will always go up. So, what's going to happen? Affordability is going to go down.”

The war in Iran will likely lead to a slower housing market with reduced demand and a reversal in recent affordability gains.

“The war in Iran is likely going to have negative implications for the housing market. Now, I'm not saying a crash, and we'll talk about that in a minute. But if you look at what has happened in just the last month, I think we are going to see slower home sales.”

Buying a home is not universally a bad idea, though it does not make financial sense for everyone in every market.

“Buying a home is not a terrible idea. But I will admit that it doesn't make sense for everyone to buy a home and it doesn't make sense for everyone in every market to buy a home.”

The current housing market is transitioning into one that increasingly favors buyers in many parts of the country due to strained affordability and rising inventory.

“Over the past year, we have started to see a shift now in the housing market, one that increasingly favors buyers in many parts of the country. And there's really two major forces that we're seeing driving this transition. You have housing affordability and then the rising for-sale inventory.”