A Correction Is Coming For High-End Real Estate: Miller Samuel's Miller

The video discusses the current state of the real estate market, highlighting oversupply in high-cost areas like California and New York, where market corrections are occurring. Developer loans are being used to avoid selling properties at low prices, but further corrections are expected. The middle and lower markets are less affected, partly due to lower mortgage rates. In contrast, low-cost states like Texas and Florida are seeing increased activity due to migration. The video also addresses overbuilding and the lack of affordable housing, which impacts first-time buyers and boosts the rental market.

In what ways are low-cost states like Texas and Florida experiencing different trends compared to high-cost states?

What challenges are first-time buyers facing in the current housing market?