Information Management Network (IMN)’s Post

Transcript

Hi, my name is Rick Sharga. I'm the founder and CEO of CJ Patrick Company. We're a market intelligence firm that provides market data, market trends, intelligence about what's going on in the housing and mortgage markets for companies in the real estate industry. Well, despite all the conversation about a US recession, it really looks like the economy is going to continue to be helping throughout 2025. We may see, we may see a slow down a little bit, but but generally unemployment looks like it'll stay low. The GDP looks like it's going to continue to grow, a pretty good outlook overall, which is really good for anybody involved in the housing market. And in terms of of the US housing market next year, I think we'll probably see a bounce off this year's low, low number of home sales and we're going to probably hit bottom this year. And we could see home sales go up by 10, even 15% next year simply because there's more inventory available, because prices are slowing down and because there's a lot of pent up demand. I think the single family rental market is poised for a really good year of growth in 2025. There are somewhere between 5:00 and 8:00 million households that would normally be looking to buy a house but aren't doing that right now because they can't afford to. That that means there's millions of people looking for a place to live who are going to be renters. And I think for investors in the single family rental community that that provides a very, very good opportunity for growth next year. It's interesting to see how the industry has matured. Over the last decade you have a, a much broader infrastructure of service providers, vendors using technology. We're starting to see a little bit of machine learning and artificial intelligence wind its way into applications that a lot of operators are using. So it it just the, the steady evolution of this industry has been very fascinating to watch The the IMN Single Family Rental Industry Awards really is turning into a must attend event. I believe we had. A very high number of people submitting to apply for these awards this year. And I can tell you that the the, the caliber of the submissions was the highest I've seen in the past three years. Last year was better than the first year. This year was significantly better than that last year really became very difficult to to pick winners in categories where where the the submissions were so close in terms of overall quality. And I think what's really kind of interesting too is to see just how meaningful. These awards have become to the winners in a short period of time. I can tell you from handing out these awards on stage, the smiles we were encountering, the the sense of pride people were exhibiting when they were getting the awards. It's really pretty gratifying to see how meaningful this has become in such a short period of time. Must attend event.