 Today, I want to share with you a Fannie Mae report that just came out that actually shows that next year is going to be worse than 2008. And I'm not talking about percentages compared to last year's crazy year. I'm talking about actual numbers that are worse than 2008. And of course, I'm going to give you the positive spin on this and what you can do as a real estate agent and or real estate investor to go out there and continue crushing it. But for now, I want to take you back to March 17th of this year, 2022, when I posted a video that was titled Prepare for the upcoming housing crash. And I'm here today to prepare you for the massive market shift that we are going to experience in the near future. Now, right now as we speak, I'm really getting that 2004 feeling when prices were at all time highs, gas hit $100 a barrel, which we just saw. We've got zero inventory inflation is through the roof interest rates are rock bottom. And we have more real estate agents than we've ever had in history. Now, you have to realize that back then the market was still blowing and going interest rates were only at 3.9% that day. So they haven't gotten into the fours and fives and sixes and eventually where we are now, which is in the sevens. So since the market was still on fire at the time I had tons of comments on that video, you can go and read those comments. I'm going to post a link to the video at the end of this video. But so many people are saying you're crazy. It's not going to be another crash. It's not going to be 2008 and all this stuff. And they brought up lots of good points. And it's very true that this is really different than 2008. And I think the biggest difference is lending restrictions. The restrictions that they put on lending after 2008 that really put us in a good position so that when that inevitable crash does happen like what we're experiencing the front end of now, we're not going to go as in a deep and dark of a hole as we went in 2008. Now, let me show you this Fannie Mae report that gives their forecast of 2023 as you gently tap the like button for the YouTube algorithm. Now, here's the Fannie Mae report of the housing forecast October 2022. You can see it has total housing start, single family, one unit multifamily, total home sales, new single family and existing home sales. So we're going to pay attention to the existing home sales right here. As you can see, it shows the 6.1 million sales that happened last year in 2021. It's got us forecasted to end the year this year with a little over 5 million sales, 5,021,000. And then boom, in 2023, Fannie Mae has the forecast for existing home sales to be 3.928 million sales. Now, if we go back to 2008, that was the worst year we had in terms of transactions through the entire great recession of the late 2000s. And in 2008, we recorded 4 million transactions of existing home sales. So what they're predicting right here is literally worse, lower transactions than we had in 2008. So if you go back to the chart, you look at 2021 existing home sales, 6.1 million. That was up 8.5% from the year prior. 2022, they're looking at being down 17% from that year. And then 2023 is going to be down even a further 21.8%. Now, I think one thing to understand here is that 2021 was not a benchmark. It was an incredibly abnormal year. This year, we're right in line with our 2019 numbers and really close to the historical average in terms of number of transactions. Also a nice note is that real estate agents commission pool is 25 billion more this year in 2022 than it was in 2019. So really, if you look at this year, 2022, it's really been an incredible year, right? Where we've had transactions that were right there really close to the historical average, while prices were much higher than any time in history. We hit that all time high and then we've come down from the top and real estate agents have made more money, way more money than they made in 2019. But when you look at 2023, if what they're saying is true and we have a 22% decrease from this year, that's 22% off of the historical average. And that tells me that if we're actually going to have that kind of year, if this actually comes true, then next year is going to be what I'm going to call the year of amazing opportunities. Because if you go back to 2008 and look at everybody that went through that moment, including myself, who lost everything, went bankrupt, a lot of people had tons of financial trouble through that moment. And they think back of that whole situation and every single one of them says, I know exactly what I would do next time this happens. I guarantee you every person that went through that is looking at this current situation licking their chops. They're thinking, here we go right here. This is a different situation. It's not like 2008. Number one, it's not catching us off guard. This has been totally telegraphed. We could see this coming a mile away, right? And we can 100% prepare for this and get ready to take advantage of these amazing opportunities. Amazing opportunities I'm talking about for real estate agents and real estate investors. For real estate agents, you need to think about this. And this should always be your motto. Okay? When you wake up in the morning, if your goal is to go out and create new relationships, not close deals, but to go out and create new relationships in the market every day, reaching out to as many people as you can, thinking of yourself as a community worker, doing community outreach as a volunteer worker to see what you can do to help people, get to know people, not transactions. When your goal is, how many new relationships can I stack up every day, regardless of what the market's doing? Then the market's never slow for you because every day your goal is relationships, relationships, relationships. How many kind of put in place? And as a byproduct of going out there and working super hard to get your name out there, put yourself out there, talk to as many people as possible with whatever your methods are and lead generation, then as a byproduct, you're going to go out there and close so many deals, whatever that full potential is. Your full potential is going to be a result of you talking to as many people as you can with the time allotted. So if you look at a lot of the really great real estate agents, most of them, okay, went through a downturn market and came back stronger, five, 10 times stronger. It's because these down moments are much needed in a real estate agent's career and able to create the foundation needed to really scale as the market rebounds. There's a 100% chance, ladies and gentlemen, that the market is going to rebound incredibly strong. It's just a matter of when. But in the meantime, let's talk to as many people as we can and close as many deals as we can. Deals are not going to stop. And I guarantee you, we're going to lose an equal percentage of agents that's going to create what? The same amount of transactions per agent of the ones that are still in the business. So are you going to be one of the ones that lay down and go do something else and quit real estate? If you got to go somewhere else to pay your bills, that's fine. But don't quit real estate. If you're in the fortunate position where you don't have to go anywhere else to pay your bills, you can hang in there and really make it happen. Let's take it to the moon. Now it's time to really go out there and stake your market share. As far as real estate investors, listen, there's going to be some massive opportunities next year, some massive buying opportunities. And what you should be doing is you should be watching the market, watching all the deals that come through, keep your fillers out and make sure you've got your hands on every possible deal. What you should be doing is stacking up cash and watching the market. As you see a good deal come through, the cash flow looks great. Boom, pick up that deal. If you're a house flipper and you want to go out there and buy something, that's fine. You need to buy it at the incredibly rock bottom, 50 cents on the dollar price right now. Now I'm in the middle of four flips right the second. I'm still buying and flipping, but I've turned down way more flips. Normally I take every flip just about, but here lately I've turned down a lot of flips because it wasn't quite the best situation where I didn't know exactly what that profit was going to be at the end of the day and I turned those down. I've still got four that I feel really good about right this second and I'm still picking up rental properties. I'm also stacking cash right now and I'm really looking forward to over the next six to 12 months seeing what kind of deals actually pop up that I could take advantage of. So again, there's 100% chance this thing's going to rebound. Next year is going to be an incredible year. I'm demonet right now, year of the most incredible opportunities to not only build your real estate business, but also build your real estate portfolio. One thing you should also be doing right now is doubling down on what has been working and get rid of the things that haven't been working is great. So when the market's going really well, you're out here doing everything and everything seems to be working. You got some things that work a little better, but you know, you got some things that work okay, so you still continue to do that. Get rid of those items, those activities that aren't doing as well. Get rid of those and double down on what is really working the best for you right now. And I want you to go all in. Give me your thoughts in the comments. Let me know if there's anything in the world I could do for you. Click that subscribe button and we'll see you on the next video. Let's go.