This election cycle is already insane, so who knows what's going to happen next year or even later this year. I'm just glad I live in a smaller house with a low mortgage rate in a nice area, and I can't ever imagine wanting to move...
The data is a generalization of the market. Although it is helpful, consumers should also understand that houses are different. Picking the right neighborhood is very important, especially during a downturn.
Really awesome I watch every content of yours and share with my friends they also watch your content but we thought about one thing because your voice doesn't get enough views live comments subscribers we want to show you how you can grow the channel
prices do not need to crash, they need to be around 2012 levels when one could buy a house at 3x income in Austin or the suburbs. Back then an average income of 50K could by a decent house for 150K. Will it get that low? who knows,,,, Also median price is up because the sales of lower price homes are down. That is why closed sales are down 18% but median price is up,
The Fall of Commercial Real Estate, will send a ripple effect into the market. Just wait until 2025, 1 Trillion dollars are due, and about 190 small banks in danger of defaulting loans. Along with about 30% of default mortgage payments, foreclosing, credit card default, and the increasing amount of home listing are another reason for market due crashing. As of now 800,000 layoff since 2023, and probably 1,000+ business close since 2023. All indication, that buying a house, means buying a house at the highest point, and terrible rate about 7%. When, home crash, sending new homes underwater, super hard to refinance to lower rate, as you have to come up with the difference in the home appraisal to the mortgage loan amount. If your home loan is $500k, but the house dropped 20% or lets say 400k, in order to refinance, owner has to come up with $100k for the bank in order to refinance the new amount of $400k. Very unhealthy period for buying a home.
The housing market needs to crash a lot of people can't afford these prices. Even with prices starting to go down a little it's not enough. You'll need to stop coming here and pricing us out. 😡.
Awesome! I so appreciate the feedback of a viewer that has 5 subscribers and 3 videos posted in the span of 12 years. Keep up the great work @Alisaremi!! 😃
