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Is this a Happy New Year, or are things actually worse??
This Week's Mortgage + Media Update with JohnB
John Birke
January 08, 2024
January 8th, 2023
2023 Recap Edition!!
Last Year:
In this week’s edition of the best (and only) damn Mortgage and Media Newsletter, we’re breaking down 2023 and deciding, are we better off now that we were a year ago? And what can we expect from 2024?
We’ll start with home prices, see how that goes
Then we can take a look at home inventories, which we know we won’t really like
Then, we’ll talk inflation, which has made some great strides lately
But then we have to check on prices, and specifically at food
Then of course debt is a big factor
And finally, has our income kept up with all these changes to make us better off?
Plus, Let’s look at what to expect from social media in 2024 and what’s going to work for you!
Really quick, if someone forwarded this email to you, don’t settle for being at mooch. Sign up and get it for yourself here 👇
Ok, now let’s get to it!
The Mortgage Part
Check out this week’s video 📽👇
🏡 Home Prices: We hit a new record high of $410,000 over the summer before tapering back down a hair by the end of the year
🏡🏘🏠 Home Inventory: The number of homes for sale has been painfully low all year, especially over the spring, and ended basically flat by December
📈 Inflation: This was probably the bright spot of the year, with annual inflation dropping into the 3’s by year’s end, much closer to the Fed’s target of 2%
💲 Cost of Goods: Even though inflation dropped, the damage has already been done. After a 13% increase in food costs in 2022, last year was likely to cut even further into our pockets
💳 Household Debt: We keep setting records for more and more debt, how long before that catches up to us?
💸 Income: The big question: did income keep up with all these changes. In some cases, yes, but others, we wish!
% Mortgage Rates: This time last year had us at about 6.5%, then famously spiked into the low 8s, before settling back almost flat at 6.62% for the beginning of 2024
🔍 Coming this week: Big inflation report to tell us if we stayed on track through the larger than life holiday spending spree we just went on!
The Media Part
🎉 Happy New Year! What can we expect to work on social media in 2024?
Obviously it’s super important to stay current on what will and won’t work for your business in 2024.
To start, social media will! If you have been stubborn and pushed back against social until now, I need to tell you a not-so-well-kept secret: YOU ARE FALLING BEHIND!!
And if you decide to stay out of the social world for another year, there’s basically no chance you’ll ever get in. Because this year is about to change everything!
AI is beginning to take content creation to another level, and if you don’t start now, your competition will take the market share that you won’t ever know is even there.
So here’s my take on a few things that I think will and won’t work in 2024 to get you kickstarted:
AI (obviously) be be EVERYWHERE and creators are getting very good at scaling content with it, and you can’t even tell anymore
Video will continue to dominate and pull in more attention
Content will get longer (60 sec+). Those quick 7 sec b-rolls on Insta aren’t going to cut it anymore
You need to be on camera. Your audience will want to see YOU and YOUR FACE even more!
HIGH VALUE!! Entertainment isn’t enough anymore, you need to bring your expertise and add to the conversation
Green Screen videos will grow even more in popularity
“Hacking” the algorithm will not work! VALUE is going to determine how well your content does, not the weird tricks those wannabe Instafluencers keep pushing on you
There’s just a taste of what I think we’ll see more (and less) of this year. Now of course there’s a lot more to it than just those things, so if you are ready to take social media seriously in 2024, reach out to me and let’s get to work 👇
Well that’s it for the best (and likely only) Mortgage AND Media Newsletter out there. Glad to see you made it through 2023 in one piece (or you’re at least putting yourself back together). I have a feeling this is going to be a great 2024, so get ready for success and let’s keep working toward it together!
And as always, I’m happy to help you and your clients with anything mortgage, marketing, or social media. See you next week and
Thanks for reading!
John Birke | Mortgage Advisor | Content Coach
NMNLS 1150795
Movement Mortgage
9726 Old Bailes Road, Suites 121 & 130, Fort Mill, South Carolina 29707
NC-I-211026, SC-MLO-1150795, AR-128178, MO-1150795, OK-MLO29209 | Movement Mortgage LLC. All rights reserved. NMLS ID #39179 (www.nmlsconsumeraccess.org). Interest rates and products are subject to change without notice and may or may not be available at the time of loan commitment or lock-in. Borrowers must qualify at closing for all benefits. For more licensing information please visit movement.com/legal.
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