Dave Meyer, James Dainard and Kathy Fettke break down a market where 45% of sellers now offer concessions. Dave says the $429K median price (up 1.5%) hides effective discounts of 5-7%, closer to $410K. James and Kathy cover negotiation: ask the seller's hot button, weigh price cuts against rate buy-downs and deferred-maintenance fixes, and present inspection repair costs on the last day of due diligence. James is offering $70K of kitchen customization on a $6M house instead of a $100K cut.
A Fed warning cited from Realtor.com puts affordability at a 21-year low, with prices up 70% since 2000 versus 17% income growth. James concludes rates won't fall much, so prices must correct. The panel argues multifamily, already down about 20%, will recover faster because it is math-driven, while a 5.2% 10-year Treasury competes with 5.5-6% cash-on-cash returns. Kathy cites BizNow on rising mold lawsuits against apartment owners, driven by deferred maintenance and litigation, and recommends regular inspections.