Housing Supply EXPLOSION COMING IN 2025...HERE'S WHY 

NO ONE WANTS TO PAY THEIR BILLS ANYMORE! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-2xkBqO5jG9M.html

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

If no one has a freaking job, no one is gonna be buying a freaking house!

I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.

Housing prices likely won’t drop significantly until supply increases. The U.S. is short millions of housing units and isn’t building fast enough. Demand remains high, and even a small dip in prices attracts many buyers. I’m looking to buy affordable houses in 2024 and maybe invest in stocks. When’s the best time to invest in stocks? Some say it’s profitable, but others warn it’s risky. Any advice?

The rates wouldn't be bad if the average price of a house wasn't $ 500,000 and the US wasn't heading to a $ 40 TRILLION national dept.

My credit was very bad and couldn't get a house with even 40% down. Fortunately, I saved and saved and just bought one with cash in 2022!

I sold my home 2020 and I've been dollar cost averaging all year long and I've almost maxed out my reserve, so I'm basically waiting for stocks to fully recover so I can break even, but on the other hand, I've been coming by articles on people who are puIIing off recurring proflts of over $150K wlthln just weeks of trades, what am i doing wrong?

I still remember the government handing out a 10k tax rebate for buying a house in 2008-9. The average cost for a single family house back then was 170, pure insanity when compared to the 430 today!

I bought my house for $66k when I was making 32k. Now my house worth 300k, I should be making $150k in order to buy same house. I make third of that. Something is terribly wrong.

I heard a home builder say he was going to stop building houses, he said he's being gouged at every corner on materials, he said it's not even worth it anymore to build a house, what's the cost of everything in the end he can't make any money, without charging an exorbitant amount which no one can afford to get a loan for. So it's done it's over.

That's because foreclosures are going to go nuts too.

Banks only have ONE PRODUCT = DEBT... When you hear the words 'Financial Products' or ''Seriveice Industry'... Equals DEBT... 'Have your Money, work Hard for You, not, you Work hard for your money'... Equals DEBT. GET IT YET?

In almost all developed countries, buyer's agents commissions are zero. Modest 1,700 sq ft houses in the middle class Miracle Mile in Los Angeles sell for $3,000,000 so buyer's agents get a huge $90,000 for selling one. Instead buyers should hire a lawyer for about $1,000 to write the contract and find you an inspector, title company etc.

Price declines are already happening in Austin, San Antonio, Dallas and parts of Florida. I watch these markets daily and there are two trends…rising inventory and price declines.

Government needs to force Wall Street to sell. Absolutely criminal that the average hardworking taxpayer has to compete with BlackRock to buy a home.

A ten percent reduction does not move the needle after a thirty percent rise of the last three years. The market needs to return to pre pandemic pricing for a healthy market to be re.Established

I've rented the place I live in for almost 20 years, the prior owner sold it 2 years before she died last month, and the new owner was overjoyed that myself and the other 2 guys would be happy to stay on. We split a three level house between us, and the new owner was talking about how her properties she rents are a constant nightmare trying to find reliable renters that will stay for many years like myself. The amount of work she had to do to this house after she bought it was staggering, deck was rotten, roof needed new shingles, the foundation needs to be mud jacked back to level, new carpet/flooring, new paint and siding. If her husband wasn't a contractor by trade with the skills and connections to do work cheaply, she'd have spent almost 80k JUST to get the house up to snuff. I've spent over 100k in rent over the years here, but for me it's a steal compared to going thru the hassles she has been thru just in repair costs not to mention insurance, mortgage, property taxes. After all that, you still never OWN your home, it can be taken in an instant if you can't pay the endless fees.

That's because you don't need a real estate agent to buy a house Michael. Let's get serious, no one wants to pay someone 2.5% for opening a door. Get a lawyer and get the deal done. It's that simple.

Very smart guy on several different levels. Not only is he making coin from this channel, he's using his on air time to walk for exercise likely getting in 20K steps daily. AND, he's prob getting 50,000 IU's of critical vitamin D as well. Well done paisano!

Enjoyed every min of this video! You nailed it!

Michael, my wife and I continue to enjoy your channel and the last few episodes the backgrounds have been great! thank you for aallll your walking and hard work. p.s. ( we are 75 and 74 your walking gives us our needed exercise!! ) 👏😉

Your home should never be used as an ATM ❗

Wow, I think you are totally correct. Especially about these HELOC loans. I was a realtor many years ago and I saw so many people do this and lose their homes because of it and most the time it was for something foolish not maybe because they needed a new roof or to make necessary repairs, but to buy new cars, vacations just really silly things that were so unnecessary! The only place where I’d probably disagree is I don’t think people are really going to get their house super cheap like a lot of these people are out here on the sidelines thinking they’re going to pick up a house for 10% of what the former owner paid for it and that is not going to happen However I do see they probably will decline but the problem is interest rates go down that’s when millions of buyers jump in that have been waiting and there are millions of them and then they start getting into bidding wars. You also have to factor in that places like Black Rock , State Street and Vanguard are also buying up whole neighborhoods of houses and I’m sure that they will, be licking their chops and getting many of these homes, yes prices will decline but I just I don’t see that they’re gonna go for in our $.10 or $.20 on the dollar🤷🏻‍♀️ especially

Reminds me of 2008. I got wiped out and lost 3 properties. Had 9 for sale properties on my block alone! Prices fell so quick they froze the credit market so the banks wouldn’t qualify any buyers . Then my 20 year job closed the plant as the last nail in the coffin. A 3 year nightmare followed but, I lived through it. I live in a tiny home now debt free and happy. I feel sorry for all the home “owners” today.

Interest rates are one of the issues. Pricing is STUPID. People need to make the sellers sweat and NEVER go in at asking. IDC how much you "love it". But insurance and local government theft through taxes is a problem that wont go away.

How can you really be taxed on an estimated price ? its like being taxed on unrealised profits, its just theft. 😞 you will never leave any generational wealth to your children at this rate. 😞

Ya in Ohio prices are dropping fast ! I was offered 750k 16 months ago. My home was never on the market! Today a realistat. Agent called me me offering half …. I’m dept free .. price is irrelevant if your dept free !!

Real estate can be quite a rollercoaster, the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate my entire $700k liquidity value to my stock portfolio or just stay 100% cash?

Home price in Florida is still WAY TOO HIGH!

Everything is sky high! Automotive Parts that used to be $20 are now $90.

Did you see all the flooded out homes in Florida? A new wave of homeless! Most didn't have flood insurance. Total Losses.

How much have things changed? In 1995 we had to make the case w our mortgage lender that we could afford a house and the maintenance costs involved, as he was hesitant to approve our loan. Price of the house in question: $56,000.

Meh. No one is going to buy homes until wages catch up with inflation. Property tax and interest rates are going to continue to keep people out of the housing market.

Still waiting until after the election to finance anything.

Also, why buy when you can rent? A 1600sq ft condo in my area are selling for $700K+ but why put down 20% and pay $5K a month, when I can rent the same unit for $3K. For lower income people, multiple occupancy is the way to go. My son and three of his friends just signed a apartment lease with all four of them on the rental agreement.

Buying a house is not worth it. Insurance always going up and they don't pay a frickin' dime when disaster strikes. The system is set up so you will likely never own it. And then with this job market ..... it's a billion times harder. NOt worth it. I wish I would have stayed in am apartment. Buying a house just makes it harder to relocate especially is you're single with no kids.

In Ohio seen this before - inventory of foreclosed homes at 1 point was like 400k - but the banks figured it out - they just let the houses sit there - like for years to artificially reduce the inventory because they weren’t getting offers close to the amounts still owed on the house

That’s good news for younger people who may want to buy soon like my child. I’m glad to hear things are improving.

Prices are NOT coming down in my neighborhood.

Rates up and down but the price is very high

The reality is if you purchased a home in a speculative neighborhood you’re going to get caught with your pants down. Homes in markets with great amenities nearby, schools, low crime, etc. will continue to appreciate. Location is everything

I have several Millennial and GenZ friends sitting on over $100K+ cash just waiting for prices to drop. They have been saving ever since Covid and have REFUSED to pay high price for house!

Seriously, this video brightened my mood!

I'm in East Central Florida with my house purchased in Dec 1980. I have traveled for work in Europe and West USA but saved the house . Taxes are low and home owners Insurance is acceptable. Currently fixed income but expenses are low. Never leaving until the end...

I am a boomer, the way I was brought up if you don't have enough you save, or wait for the price to come down. All new things start out expensive. Overtime they become cheaper. People have to be smarter, stop acting like there's only one chance, ands it's now. That is the definition of fear of missing out. Don't fall for it

It is definitely happening! I have been seeing a lot of people list rooms for rent on Nextdoor. They are advertising them for a lot less than they had been going for. Prices are definitely coming down across the board. About time!

Great video Michael! I always look forward to your videos. I Closed on my house last month (West Palm Beach) and I put the proceeds into interest baring account to help pay my rent (combined with my HOA, Taxes and Insurance) I can afford a luxury apartment and complete freedom of not having my investment in Florida. Absolutely no regrets.

By the time prices go down, the average person will have 1 meal per 2-3 days, and buying a new pair of socks gonna be a financial struggle.

House ownership is out of reach in desirable areas for most Americans. This is the result of decades of currency depreciation outrunning increased productivity. All real wealth (land, water, minerals and infrastructure) is being transferred into the insiders hands by debt monetization in return for computer entries.

Your uploads have become a must watch to what’s happening in the US. Yet another ‘like’ click from the UK. Thanks

My dad always listens to your podcasts at the gym and at home. Thank you! 😂

Americans rank #27 in the world for intelligence and people voting for Harris solidifies that.!.

Ive heard this before, dont hold your breath.

Michael you are great at what you do and I appreciate each and every one of your videos. Keep it up and bravo to you for telling us this important information.

My first house, 13%. Mr. Carter.

Bought my house at the bottom of the 08 crash. It's more than doubled from the .50 on the dollar I paid. I will be one of those 'price slashers' to cash out and get it sold and move on with my chips when rates drop enough for sales to pick up. And tell Jan that the buck stops with personal responsibility....I get sick and tired of people wanting to blame someone else for offering loans they made the decisions themselves to sign for. The debt forgiveness crowd.

Have a home in Florida close to schools, gated community, etc and am having a hard time selling. Everybody ran down to Florida during COVID, including us due to lock downs and now people are leaving. Builders and realtors took advantage of the influx and now owners are paying the price.

New Hampshire- $120K was the typical price of homes in my retirement/summer cottage village. During the Plandemic Boston liberals/progs were panic buying them site unseen for &550+K, today they’re sitting on the market in the $350+K range getting zero offers.

UNFUNDED city, county, state, federal government Pensions is an interesting topic possibly worth explaining its impact on real estate.

Here come the price cuts and inventory… after Aug 17th the Real Estate Industry will be very very competitive

Great advice! Another excellent video by MB. So spot on. Keep up the great work! Just tells it like it is based on the real world, real time data.

Easy to spot the new builds on this street. Two-story homes completely out of place… neighbors no longer having any privacy or a view….. sucks!!!

I have a HELOC with my credit union. It absolutely is a fixed rate for the ten year payback term. Most are prime rate variable but there ARE fixed rate HELOCs out there.

If you have the means, you can live so much more affordably in most other countries. You don’t need to be rich.

You are correct! My favorite line to my adult kuds…keep your debt load low..been saying it for years.

The rent is too damn high!

House is getting old with old people living in it- $17,000 plumbing repair, need a new roof. Fell moving the sprinkler around the grass, I could sure use a sprinkler system. Poor health, can't do the work myself. It's a fixed income...$295.00 increase due to just rises in insurances. Food is high, gas is high. I was working a part-time gig to pay off credit cards, now my hours are cut. Don't eat out anymore. Don't have much more we can cut in our budget.

20:53. Awesome statue on the left

There was a bubble, a big fat one that produced unrealistic property values. But now the sky has darkened. Interest rates are braking buyers, increased municipal taxes following the bubble are unbearable, plus the home insurance crisis, and the closer and closer pause of an economy that was overheated, yes, the dirty word ''recession'' is looming ahead, that will be the cherry on the sundae, and I have not even mentioned the condo crisis (regulated fees plus emergency repairs). I bought a house in Florida in 2011, sold in 2022and might be in the market again when the whole thing crumbles down again.

Thanks Michael.

Meanwhile, in Northern Virginia, Arlington, and Alexandria area, my mother in law was shopping for a $650k-$750k price range house and out bid by $100k-$200k.

In Myrtle Beach, South Carolina, there are all kind of big development going on right behind where I live. They just started a 1200 home development.

Too many houses for sale in my neighborhood. They are all over 250,000 +. Nobody wants to buy a 1970s house for that price. You can get a new one for less in other neighborhoods in the city.

Fla is in very big trouble. Cost to own vs values will be in big trouble especially for people 2020 and on. But alot will not be worth it. Plus weather is good for winter but 8 to 9 months its terrible. The reality with condo costs will be bad.

Good story and thanks for sharing, this explains what I am seeing.

Who told Americans to over spend?!Who told American men to give their wives big overpriced homes n SUVs!?Who told Americans to buy big trucks?Americans never will get it together.

A 2900 sf house in York County, Va. Just sold for 10,000 above asking price at 449000

12:38 I remember doing that in 2008, then that arm kicked and kicked my ACE !!! Ba-bye Home. I lived it 😢

I live in California Central Valley area and in a 4 year old housing development. There are 5 houses in my neighborhood selling 2.5 years ago and they're still up for sale. No one is buying.

Its long overdue. .

I’m thinking of selling my house and move to a rental house in my favorite place. No more homeownership as it is too much troubles…

Thanks, Michael!

From Dubaï with Love. Thanks for your excellent content

Well we don't have a sump pump but Debby's rain/power outage here in Montréal let you know who did, even junk man's not picking stuff up!

There’s is a TON of houses up for sale in San Antonio and no one is budging in price. Gotta be investors who can afford to hold until buyers cave.

Like I said Michael… nothing is going to change, sellers want their houses shown. They can’t offer zero percent buyers commission.

I can get on your videos blindfolded! I know exactly when and RU-vid puts you front and center!

Why waste $2,000 per month on interest? Save and invest!

I like watching your videos and generally agree with the sentiment behind your views/opinions, just wanted to point something out from this video. For the increase in people taking out HELOCs and the demographic of people doing so, it makes complete sense. People have had a huge increase in equity over the past 3 years but feel trapped in their houses due to interest rates. So, as you say, the only way they can access this equity is through a HELOC (or similar) loan. It also makes sense that people 50+ are the ones doing it, since those are the people who actually have equity in their homes. It has nothing to do with them being more or less economically stable, its that they are the only ones in the position where they have all this equity and nothing to do with it. While you should obviously never take out a loan (especially using your house as collateral) if you have shaky finances to back the payments, the only good use of one is to improve your house. The people doing this want to sell but cant - the next best thing for them is to change their current living situation without selling. At least this way you use the loan to improve your living situation and, when interest rates drop in the next 3-7 years, then they will sell and recoup SOME of the loan in a higher selling price for the house due to the improvements. And for those extra 3-7 years they had to wait, they got to live in a way that benefitted from the home equity they had. Its not something I would personally do, but it does make sense. However, I completely agree with you that if people are taking out HELOCs to pay off loans, other debt, invest, gamble, etc that is extremely dumb as you are putting your house on the line as collateral. Other bad decisions led them to this spot and this would only make things worse.

Keep going Michael!!!!

The Fed may not have as just flexibility to lower rates as we think. That is if $ inflation kicks back in from lower rates. That could make foreign investors reluctant to buy dollar-denominated assets like T-bills.

The only one responsible for your choices is YOU.

I love your content! So sensible.. 🙏

Awesome speculation....I hope you're right Michael, especially us out in CA!

I sold in April for a nice chunk of equity, but also bought my overpriced home in January. I wanted the house because it checked 9/10 boxes and it will be the "forever home". I don't care if the value goes up or down..selling high/buying high, it all balances out. Homes in my previous neighborhood sold within weeks, I look now and see 7 available and Active, some sitting more than 40 days. Only 1 out of the 7 has dropped the price. Sellers will eventually have to wake up from lala land and have to drop the price.

Stocks roar higher today as recession fears fade.

Michael, Watched your channel for the first time and immediately subscribed! Awesome information channel. Remind your followers that when house prices tumble be aware that their insurance coverage on their home owners insurence stays the same. You could be paying for replacement cost at $450,000 when the bust has taken your value down to $350,000 ………but your still paying a premium for the $450,000 amount which also reflects every other aspect of your premium. No one thinks about this…….,, your insurence company shure as hell isn’t going to notify you that your replacement value has dropped drastically so we want to adjust your policy to reflect to save you money. The savings could be HUGE! Just thinking out of the box! Keep it up! Dan Hulshult, Rowlett ,Texas

You have to pay the agent up front if you want to view houses, right? So when the buyer actually buys a house, does the seller’s offer to pay the commission cover the buyer’s cost to have an agent to represent him in his entire home search? And on another note, how long do these buyer agent contracts go before they expire?