This is the people's real estate channel! If you want to learn the cold hard facts about the US economy, the US real estate market and specifically the Las Vegas real estate market and the thousands of Las Vegas homes for sale, then make sure to subscribe to the channel below. I discuss general economic conditions, US home sales trends and specifically Las Vegas real estate market conditions to provide insight and information that most people may not have available to them.
As a local Las Vegas realtor, I help people make the move into Las Vegas all the time. Feel free to reach out to me anytime. It would be my pleasure to help you find your perfect Las Vegas dream home.
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Jerry Abbott - REALTOR® 📲 Call/Text: 702-550-9658 📲 Email: jerry@jerryabbottrealty.com 🔎 FREE Home Search: www.jerryabbottrealty.com/
Folks in the desert market,,Phoenix Las Vegas there's very little supply and demand pressure because if they need more supply they just keep building out further into the desert... everybody's situation is different based on geography, interest rate, amount owed.. be careful of generalizations... just be mindful about getting greedy...sheep get full, cows get fat, pigs get slaughtered😂
Las Vegas condo/townhomes at record high and single family homes near record highs! Anyone that listened to this guy made a huge mistake! Number one Las Vegas realtor? Please…
I visited vegas this weekend after a 5 year break and was blown away by the change in food prices (Johnny Rockets at MGM grand food court - cheeseburger, fries, and a drink: $40)
Hoping by next year these prices have dropped way more than they are now. Getting ready to be a first time buyer but i flat out refuse to pay these prices. $400k for a townhouse is insane. Just going to be patient and see what happens
Good stuff!! I know you think it’s just going to be a pull back in real estate, But man are the stars are lining up for epic crash again All time credit card debt Job loss on the move Stock market way overvalued Inflation still of the charts ($75,000 for a pick up truck) Trillions in fed debt You know wonderful stuff like that. It’s very difficult to see it especially up here in Connecticut the amount of apartment complex’s being built is off the charts and they are being rented, and they are not cheap. A ton of people from ny, Florida moving in
I understand that. The problem is "ITS HERE" Everyone is on uncharted waters. what's coming has never happened in the history of the U.S. This is a GLOBAL FINANCIAL epidemic that NOBODY can control. Every currency on this planet will be reset. Many people are going to loose everything including you and me unless you prepare for this. I have heard this story I am preaching to you for years and nothing has hit hard. Well all I can tell you is "IT'S HERE" Hard assets will be the only wealth left in this country when everything resets. GOD BLESS all of us.
I'm a Gen Xer who has given up on ever owning a home. I live in an old RV and I'm very satisfied. The real estate market can go scratch my ass. 😁 P.S. I really like this channel 👍
Who in their right mind would compare normal Cities like Las Vegas across the country to the outliers of ski towns, boating towns etc that are usually retired rich people owning second homes... ESPECIALLY to open a video like this. Then @ 2:42 you mentioned that listed homes sitting on market for more than a month, are up 65% YOY... when the redfin article in the video clearly states its up to 65% from 60% the year prior... thats only a 5% increase YOY which is minimal and uneventful. Then we get into this 10th grader like chart explanation of completed homes and how they are at a dangerous level crossing a median level of 100k completed homes for sale. Naturally this is done without mentioning the obvious upcoming 8-10 interest rate cuts the fed is on track to make over the next 18 months. Which is going to bring buyers to the market who have been waiting for lower rates to make their purchase. Finally, we go through a few examples of homes in Las Vegas that were egregiously priced and were brought down to reality before selling which is common in every market when a product is priced too high and MEANS NOTHING. Las Vegas home prices are up 7.2% YOY with a minuscule 14% decrease in homes purchased in June in 2024 compared to 2023. WITH AN ACTUAL DECLINE in days on market from 40 in June of 2023 to 37 in June of this year... All of this is a simple redfin google search away. Really this video educates no one, and is more of a fake fear mongering approach to explaining current housing situation in most cities using pointless information. D-
Sorry you feel that way Kyle. It's unfortunate that your tone had to be so insulting but you are mistaken in several areas. The opening about Jackson Hole is that it is a wealthy town for sure but it has now reached absurd price points with billionaires kicking out millionaires and certainly average income earners. The completed homes chart/explanation is showing a strong indicator (not seen in 15 years) that the tide is starting to turn. The fact that you think the Fed is going to cut rates 8-10 times over 18 months is preposterous. If that happens, hyperinflation comes back into the mix and most people will be finished at that point. Everyone said at the beginning of 2024 that the Fed was going to cut rates six times this year and they've yet to do it even once. The problem is that most people think a real estate crash is going to happen overnight when they have notoriously taken years to play out. I don't know if we will see a crash or correction but we are certainly overdue after the last several years of unprecedented appreciation.
Well, we’ll have to vote for Kamala so she can help the middle class. That’s what she was saying that she’s going to make the middle-class strong. We can all tell by the last four years. The middle class has been obliterated.😂😂😂😂😂
The billionaire’s are kicking out the millionaires in Jackson Hole for years!. If you want to live near Jackson ( be one of the workers in Jackson) then there is Star Valley (aka Starve Valley) to the south.
My latest Las Vegas grocery bill. 5lb bag of Idaho Russet potatoes $0.97, one dozen large eggs $1.77, corn on the cob 4 for $1.00, loaf of white or wheat sandwich bread $1.00, head of iceberg lettuce or cabbage $0.97, large bunch of red radishes $1.00, baby back ribs $1.97 per lb, half of gallon of milk $1.67, honey nut Cheeries 12 oz $1.47, snow crab legs $6.97 per lb, ice cream 48oz $2.47, Stouffer's or Lean Cuisine Entrees $2.47 each, 85% lean ground beef $3.97 per lb. We shop at the nation's second largest supermarket chain.
Looking on Zillow and Redfin, I see prices already going down a little. Hopefully, they will go down a little further when I am able to get down there.
I must say after living in Vegas for 8 months now, I don't think it's smart to buy. We have $300k for a down payment but I do not want to overpay. As far as property tax, I see that is cheap here but groceries are double the price we paid in Dallas. I think this time next year wil be better hopefully
I agree with you. A likely correction is going to happen across the entire real estate market at some point after the last few years of unprecedented appreciation.
Where do you see prices going in Vegas in the next year? You got movie studios moving to Vegas along with Californians ruining the market on top of that
I see a correction coming within the next year or so. There's no way that this will be sustainable without first seeing that kind of correction after the last few years of unprecedented appreciation.
What a load of bull in this video. The Tetons and Jackson Wyoming has ALWAYS BEEN HIGH, I know because I have owned land there for 20 years--nothing new in this. Air BnB and rentals drive the prices and always have. It's a travel mecca and it's normal for the area. As for Vegas the only reason for inventory building is because people are anticipating rate cuts! This doom and gloom is nothing but drama to drive you clicks. I live in Vegas, and they are building houses by the mile, not blocks, and they're selling them too. Even if prices dropped 10 or 20% the home owners would still be way up! The FED has buyers on hold until inflation data moderates. As soon as rate cuts come the market roars! Enough of the gloom and doom! Some the house price reductions are a handful out of the totality of inventory in Vegas! You can make a report seem to be anything you want it to be. This is an irresponsible video!
First, I am simply showing that news clip about Jackson. Regardless of your own personal feelings, those are absurd numbers. Second, Las Vegas housing inventory is building not because of anticipating rate cuts but because the economy is changing. The job market is weakening, stock market starting to nose dive, high prices and rates. At some point, the tide will turn and we will likely see a correction before prices ultimately move higher long term. I can make videos for hours to show how many price reductions or overpricing is happening. It's a lot more than you or others think.
All homes, including new home construction, are outrageously high compared to a few years ago. That discount and incentives are mostly smoking and mirrors to make it look like you’re getting a discount when they still have a very large margin baked in.
Great job with the video. You make it very clear for the laymen. Make sure to give the Reveture App their props though for some of that data. They deserve a verbal courtesy/credit.
In early 2020 we were not in recession. Despite that, the prices have gone up and up. Wait until we enter a recession. I would not be surprised if we. get back below 2019 prices. I have benefitted in the past by buying during a recession.
Covid made the wealthy, corporations, and institutional investors filthy rich. 7 trillion dollars pumped into the system during covid was paradigm shifting for the haves and have nots, and if you have not, life will only become increasingly more difficult. Real inflation is destroying people's lives.
Deja Vu all over again just like 2008. Folks need to listen to you and Michael's channel so folks can understand what's going on with the housing market. You can't stress enough to tell folks to wait on buying big ticket items.
Are you insinuating that Only Black's are on Section 8? Section 8 is given to Women with children of All Races. AND THERE ARE MORE WHITE WOMEN ON WELFARE THAN THERE ARE BLACK WOMEN.
I have never said we are going to crash in any of my videos. I have said we are overdue for a correction but it's impossible for anyone to accurately predict anytime frame for that when the Fed manipulates the markets. Real estate down cycles are notoriously slow and usually takes several years for prices to bottom out. This likely could be a slow grind down but not any kind of overnight crash like many are hoping for.
Hard to stomach buying at all time highs with 7 percent rates...for those buying now, its got to be hard sleeping at night. Its probably cheaper to rent and let down payment marinate at 4 to 5 percent in savings.
Completely agree. It is far cheaper to rent right now but a lot of people want to own (which is natural) but at what cost? It is a huge anchor for people to buy at these prices and rates in this current market.
I bought my house for 425k 3 years ago. The house across the street which has less yard and outdated house sold for 657k. We could get 700 for ours. All this does is make homes worth more so our property taxes double. Fucking scam.
