That is correct, it requires third-party apps.
You can either use something like TextEpander, Typinator or KeyboardMaestro (never heard of the latter, actually) to create ‘shorthand’ typings for commonly used snippets; or you can use something like Ukelele to create your own keyboard layout that has a key (or a key combo) assigned to this particular string of text. (The latter won’t work if you plan on including the contents of the clipboard as part of the text, while the former will)