I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
@@Sophie3647s This house in Phoenix, AZ there was a house bought around 4 months in my neighborhood for $530k put it up for sell at $556k right away and right now they have it at $420k in less than 4 months lol
The housing market is currently inflated and oversaturated, with homes listed at exorbitant prices remaining unsold for months. It seems likely that our generation will experience one of the most significant bubble bursts in modern history. I'm looking for the best strategies to grow $250k into over $1 million and secure a good home for retirement. I'm 48 years old.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
In my parents neighborhood! Where they bought when it was “high” before the crash at 400k. A home just sold the other day for 760k. I don’t understand how or why anyone would do that. And these are small 3-4 bedroom homes built in the 60s…
I bought a house in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.
i advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now
You are right! I've diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
@@MarkFreeman-xi3rk Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
I'd recommend Margaret Johnson Arndt. She is a genius when it comes to diversifying her holdings. You can verify her identity for yourself by looking her up online. She is well knowledgeable about the financial market
I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSMC and AMD are still strong buys.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
monica mary strigle, you'll be in luck at this time of year to have a conversation. lady is hot topic in downtown manhattan and you must not be and accredited investor. Just browse.
There are new factors. I make six figures but I'm not going to spend 500k on a literal shack. Things are going to crash because millennials aren't going to buy 500k homes that should be 200k
I told my parents the same thing. They were like you make six figures just look at this house for 500k. I said mom/dad, im not buying a 500k 30yr old ranch style house in the city that needs a crap ton of work still with a 7 percent interest rate... it is insane.
@@jaxonpetersen5942I made 112k last year and will make roughly 130k this year. I can’t afford a house without sacrificing nearly 50% of my take home pay… and I won’t do it.
Homeowners are only “more dependable” when they’re employed. When unemployment dramatically rises, which it will, you will see housing prices drop substantially.
Exactly, and the cost of housing went up like $200k over a two year span in most major cities. So even though the rates are low, the inflated home prices/values will be underwater soon. This upcoming crash will be for a different reason - but it's absolutely coming.
I don't see housing prices falling much until the supply is increased. In the USA we are short millions of housing units, and we aren't building nearly fast enough. People always need a place to live and we are constantly making new people. Any slight dip in prices unlocks a bunch of buyers who will gobble up that supply instantly. I want to buy inexpensive houses in 2024 and maybe invest in stocks. When's the best time to buy stocks? Some people say they make money, but others say it's risky. Any advice?
If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.
Most of the people don't have purchasing power but still they r buying expensive property. If u look into bigger picture it's all due to FOMO after covid when ppl r going back to their jobs etc. Demand has gone high. Remember, if a rocket goes high, it will come down after sometime 😂 just wait for 1.5 - 2 yrs u will see.
Look for low cost (low expense ratio) index funds. A total stock market index fund will track to the entire stock market. Time in the market is more important than timing the market. Go with a reputable brokerage like Vangard, Fidelity, or Schwab. Don't invest any money that you need in the next 5 years. Expect the market to go down, up, down. Buy and hold, don't sell. Historically the market returns about 10% per year on average. Vivian has some good advice around index fund investing and you may want to check out Bogleheads as well.
You haven’t factored in economic turmoil into that. The turmoil we should have experienced during Covid. But instead. We printed our way out of it. And ran the economy red hot. If you know anything about history in this country. Even over the past 50 years. It’s obvious to anyone that when you do this. It always results in harsh economic times. As long as the government stops trying to help. Things will balance themselves out. But through this process. Many people lose their homes. Which is precisely what I’m hoping for.
This video is a year old and she was right. I have acquaintances saying since 2020 that the housing bubble was going to burst again because of foreclosures and Airbnb restrictions. I bought my house in 2019 then in 2020 refinanced my mortgage to 2.35% I am paying $1080 for my mortgage while these acquaintances are paying $1800 for rent. I spoke with a realtor that was leaving flyers in the neighborhood. He said the only people selling homes in my neighborhood are couples going through a divorce or death from old age. Nobody is going to walk away from a low APR
No, she's not. The prices are too high. NOBODY is buying. Companies and people bought houses to resell them at a profit. They took loans and backed those loans with the houses they bought. They will default (stop paying) on their loan. Why? It's cheaper. They did the math. They will have to lower the prices too much.
Worth noting that housing markets don't ever "crash" bcs houses are illiquid assets, so value doesn't drop overnight rather they fall gradually. She is wrong bcs the trajectory will be downwards due to affordability. People who bought in 2020 are probably intending in sitting in their homes for the long-term, which means they likely bought a house that was highly overvalued. Affordability is an even bigger issue today than in 2020 so current house prices are unsustainable.
@@ribz747 you realize people who bought in 2020 are locked in the lowest rates ever? They pay less monthly than rents. You are truly delusional to think they are struggling.
@@deebrown7160 This house in Phoenix, AZ there was a house bought around 4 months in my neighborhood for $530k put it up for sell at $556k right away and right now they have it at $420k in less than 4 months lol
Look at all the defaults in auto loans currently, houses are next with the amount of stagflation and the current cost in lumber going down and the amount of houses being built is picking up the dillusition in the market will happen plus no turn on the federal reserve reversing on interest rates hikes . I'd beg to differ.
What layoffs? July jobs report was amazing. Work from home pushed a permanent change in supply. Over valued? Maybe, but the days of 40% cheaper homes is over
@@gibsonorbust if you believe job reports, I've got beachfront property in Arizona to sell you. That, along with consumer price index are among the most manipulated pieces of propaganda in the globalist arsenal.
In 2008 the housing crash was caused by default. Yes, but those defaults weren’t solely based on bad loans. It was due in large part to the greed of banks and their adjustable rate mortgages. They raised the interest rates and priced people out of the homes and caused the default. Then they foreclosed on the homes, kept the asset while the American taxpayer bailed them out.
@@TheCatholicGirl please enlighten me then? Did the banks not write adjustable rate mortgages? Did they not raise the rates as soon as the arm was over? Did they not foreclose on those homes when payments weren’t received? Did the US government not bail them out? Does the US tax payer not provide the government with the money which to spend? Which part isn’t true?
@@WalterFelts The banks have always written adjustable rate mortgages. I had an adjustable rate mortgage in the ‘90’s and the rate only went down. The banks do not raise the rates, the fed does. If you don’t pay your house will be foreclosed on and your car will be repoed. They will come and take back anything you aren’t paying on, including furniture. You’re getting closer to reality with the government bailout. The biggest thing that caused the crash was the repeal of the Glass-Steagall Act and the Obama requirement to lend to people that would not ever be able to pay the loans back or the feds would seize the banks. Those two things caused the crash. The repeal of the Glass-Steagall Act means the bank no longer holds the paper aka no consequences for bad loans. Clinton and a Democrat controlled congress did that. You have to wonder why they don’t put that back into place.
People always say, “things are different now.” I know from personal experience in applying for a mortgage that they are not. With FHA they will approve you for a mortgage with a DTI ratio of over 50 percent. They were going to do it for me and I ended up turning it down because I knew I could not afford it. They are now giving out arm loans as well. I don’t think much has changed. History always repeats. This is a little soon but we will see.
DTI requirements have been laxed and a lot are straining their budget to get into a house. Last November, they were pushing me to take out an amount that'd have been 45% DTI. I always thought about 38% was the limit. I hear 50% these days quite commonly and that's WITH today's rates that are more than double compared to last November. And don't forget jumps in property taxes and insurance. Credit card rates are 20%+. Student loans are back in full swing. Covid era leniencies are gone. Don't just look at mortgages. Look at overall finances of a lot of people and it's MAXED out. A job loss and their whole finances will collapse within 3 months.
Relax. Businessesmen will blow everything up. Those guys made sure everything went down in tbe 2000s. They took out loans that were backed with the houses they would buy. The houses stopped selling and they defaulted on their loans because they knew it will ONLY affect them for 7 years IF THAT. It's just math.
@@steveh5307 The businessmen will crash the market like they did it last time, in 2008. They took out loans to buy houses and backed those loans with the houses the bought. Suddenly they couldn't sell the houses anymore or rent them because people either were buying that were dirt cheap or were moving back with their parents or moved with some relatives or something. At that point they start doing the math and figure out it's cheaper to just default even if in the following 7 years they will have a worse credit score. In fact they will be able to get a reduced interest and better terms if they negotiate even with a bad credit score because fewer people will take a loan.
Bro! I have been saying the same thing! History repeats itself! The stock market is booming because people are spending like crazy!!! I’m holding to all the cash I have! I’ll be ready!
Your right about the reason for the 2008 crash but there are different reasons for recessions. Homes are still being built so the number of houses will increase. With interest rates increasing, people won’t be buying homes because the interest they would have to pay to barrow money from the bank would be really high. The 2008 crash happened because the supply of houses that went on the market increased, dropping prices. What we are seeing here is a decrease in demand. It won’t be as fast as the 2008 crash, but instead a slow ride downward.
@@angiew4544 No building hasn’t slowed down and with lumber prices crashing, they’ll be building like mad. However, due to the high mortgage rates, they’re no longer focusing on big homes. We’ll be seeing a lot of smaller builds going up. Regardless, prices will be tanking. Also the 2006-2008 deal was a slow train wreck. It took about 6 years for prices to bottom out.
The worst advice I ever heard. I hope your followers look at the markets and look at the past recessions before listening to this trash. Stop listening to these fools. She is telling you to buy at the peak of the market SMH
This is not the peak. And she never said to buy. What she’s saying is that if you’re waiting for the housing market to crash to buy, no likely. Market correction that we are seeing now are FAR from a crash. What she’s saying is true of what is happening. She’s not giving anyone any advice, she’s just stating historic and current stats and facts.
I can guarantee that what you are saying is trash and she is 100% right, The reason why housing prices are not going down this time is because big corporations like big rock are still buying them at high price. Also, inflation is a factor. The cost of renovating house 10 fold (labor, material, and so on) so if it costs you to renovate your house 100K now vs 10K 3 years ago, would you sell your house for cheap? Now, I got my house at the end of 2022 for 350K and it is estimated 410K on Zillow as of this moment. It went up from 395K to 410K for the last month. But I would never sell my house for this price. I just got a call from a big corporation and they offered 450K in cash for my house. They also wanted to offer more. But I said that I am not selling it. People like you will never get my house as I always have better buyers like big corporations. Abolishing private property is what this government is trying to achieve. Plus, the USA is now a third world country according to a recent UN report: theconversation.com/us-is-becoming-a-developing-country-on-global-rankings-that-measure-democracy-inequality-190486 And in the third world, a majority of people cannot afford housing. People should stop listening your trash. Because ignorant people like you is the reason why this country is falling so low. I bet you voted for Biden and support this useless war that got us where we are.
I think the take away message is this- if you can afford to buy a home (you have savings, emergency savings, good credit, low debts) and you find a house with a payment that is within your budget, DON’T WAIT on a crash. If I had waited for a crash back in 2020 when I first started to think about buying a house, I never would have gotten my home. I’m priced out of my area today, and my home would have cost me double what I paid for it with interest and price increases today. Sadly, that’s the way it seems to be going everywhere. The longer you wait, the more you risk not owning a home at all. So, buy when you’re ready, not when the market is
Now is the best time to buy with current interest rates and inflation at an all time high? Sorry but whoever listens to your advice will end up getting trapped in an overpriced mortgage after the recession goes full steam and thousands of homeowners will be unable to pay their living expenses. Theres much more data to look at than just housing inventory and loan approvals....
Thank you for posting this comment, she is getting absolutely destroyed on here. So many factors are at play right now. At the very least she could admit that waiting another 6 months won’t hurt anything. It’s not like houses are going away. 😂 these same ppl existed in 2008, and they said the same exact thing before it crashed. Now I don’t think a full on crash will happen, bit definitely a correction over the next 12 months. You will see prices reduce just as fast as they went up. It’s not logical or mathematical plausible for prices to stay the same with interest rates and inflation where they are. Don’t ask a realtor on when to buy a home, the answer will always be the same, because they want a sale. 2 months ago I promise you she was saying prices will not go down for the foreseeable future. Now they are diving. Don’t take my word or anyone else’s for it, go out to these new builders and see all the incentives and price cuts they have already done.
I didn’t hear her recommend buying now. Her thesis is that there isn’t a crash similar to 2008 coming. I agree it won’t be like 2008 but disagree that there won’t be a crash.
If your scared get out the kitchen. I just bought my 4th rental and all of cash flows. I had no competition with my last purchase, and no bidding wars. I bought the house 20k under. If you think the houses are going to crash then your going to be left to drown once these rates come back down becuase prices are going to head right back up!
I think the problem now is houses being bought up by financial groups to do either Airbnb/rent out, pretty much taking them off the market. Good luck out bidding blackrock/vanguard
Can we PLEASE talk more about this? The housing market is going to crash as we go further and further into recession. We are seeing consumers spend less money on goods. Less money on goods equates to less items being purchased by manufacturers which results in less products being sold in stores. The less places sell, the lower the profits. Lower profits and less work leads to layoffs. Layoffs lead to people not being able to pay bills which of course leads people to cutting cost as much as possible.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
@@hydr012 I came here exactly to say this. Prices are literally exploding in Europe too. We'll try to buy in 2024 anyway, cos there's not going to be a crash anytime soon anyway.
I mean it’s 3 years past Covid now and houses are still at least 100k more than they were a couple years ago. It’s not going to collapse, it may drop but it won’t collapse.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
Rich people don’t buy houses for the asking price, especially overpriced 20%-30% more. Rich BFF sounds hella SUS rich people don’t have to tell everyone .
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
Realtor here. For one 6 month inventory is an extreme sellers market. 3 month inventory is considered a balanced absorption rate. Call it a correction or a crash or whatever you want but prices are coming DOWN if interest rates don't. Owner occupant buyers simply can't afford these interest rates on these prices (which produce by far the highest monthly payments we've ever seen). Also, investor yield is just about at an all time low, so I can't imagine what else we could do to gut demand and cause supply to snowball. I live in South Dallas, and inventory has doubled in the last 6 weeks
@dadada396 I've been a realtornfor 4 years now, and I am now a licensed broker. I do a monthly market blog, if you send me your email I can add you in.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
I would love to agree unfortunately the mortgage cant be paid if there is a loss of employment and with inflation the writing is on the wall. Sorry Vivian but you got it wrong this time.
So what are your thoughts that a lot more of the market is not institutional money so loss of employment won’t really impact them making payments? I’m always happy to chat through differing opinions (as long as everyone is respectful and nota troll lol)! You very well could be right. Lots of investors/realestate professionals/economists are divided!
@@YourRichBFF I'm no professional here😌but based on history most booms in a market lead to a crash unfortunately. The markets are really uncertain now and I think that alot of jobs may be lost and although there may be more job openings available I question if the pay would be enough to makes ends meat including paying a mortgage.
@@YourRichBFF it’s not about trolling, you are giving ppl extremely damaging advice. The market isn’t in total free fall, but it’s definitely not stable. Prices are dropping and builders are trying to stop the bleeding with wild incentives. You can’t give a honest answer to prices vs average income. Prices will not keep going up like they did during the pandemic. That was 100% artificially grown with 3% interest rates and tons of cash pushed into the system. Wages have only gone down if inflation is at 9%. Look at the numbers on credit card debt right now, it’s honestly scary. I’m not trying to be rude or a troll, it’s just mind boggling that someone would put a smile on their face and say these things. Idk if it’s for clicks or what… lucky I can see ppl are actually paying attention to the situation.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
It’s over a year, and she’s has been spot on thus far. Home prices are predicted to continue rising. There’s were a lot of people a year a two ago saying the housing market was going to crash, but basis economics paints a different picture. Under what basis did you believe the housing market was going to crash? This is like the late 1970s/1980s, where home prices increased significantly, and they never went down.
In 2008 Wall Street either ignored the shady practices of the banks or was straight up clueless on what was going on. Either way, Wall Street got it wrong. Today, we are hearing the same song and dance from Wall Street except this time your average American is well aware that something isn’t right.
Meanwhile it is June of 2024 and the number of listings in my area has doubled compared to the same month in 2023, some of the listings have been on the market for over 90 days and the prices are being cut between $15k to $25k and they still haven’t sold. This didn’t age well
The crash this time won't be for the same reason as 08 but there will be a crash. "Responsible homeowners" have piled HELOC debt. All it needs is a recession that will cause mass layoffs. Of course we are not in a recession according to officials.
History shows there has never been a crash in US History with the one time exception of 08 do to very specific reasons that have nothing to do with today's climate
@@blakejohnson3864 your claims that housing crashes up and down is just plain wrong and just factually incorrect. There is zero evidence to support this. And if disagree, then show me actual proof. I'm no speculator and I'm 100% rooting for first time buyers and the middle class. But you must understand the misconceived notions that doing nothing and waiting is somehow mitigating risk.
@@jaybartgis5148 and Covid is not a specific reason? Did we ever had a pandemic before, that influenced the economy and society en masse? We’re looking at unprecedented effects now.
Market is already crashing in some areas. Homes are being reduced 20%+ in some cases and sub prime loans with 0% down have made a return. Only a matter of time before we enter a recession.
I swear some people need to see prices going up for 100 years before they might be willing to admit there is housing crisis. We stopped building enough homes about 50 years ago. Prices are not dropping. Good luck everyone it's rough out there!
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
i looked at my zillow feed. just in my immediate location. last month there was only one home for sale. now there is a dozen. this is my personal data.
Same here! I still get Zillow emails despite buying a home last year just for fun. The supply for the past six months has been incredibly tight and way overpriced (fixer uppers with no working bathroom going for a third over what I paid for a beautifully maintained Victorian) now I'm seeing about 5x the options and only about 1/5 over what I paid for something comparable. I think the trend will continue downward, but I'm very lucky to have gotten a good deal and good rates whereas new buyers are maybe gonna get a good deal but I'm seeing double the rate I scored
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
Australia already down 40% and uk and US markets already showing signs of weakness ... Irresponsible to put something like this out on RU-vid without even a warning that your info could be wrong. You could be screwing over people's LIVES with your videos. Please reflect on yourself and weather tour views are worth ruining lives
That's a straight up lie. Why have 8 of my coworkers lose their house to foreclosure. All of these influencers need to stop listening to Dave Ramsey when the man has been burned twice in the market and says the same stuff.
what country are you ? …. I monitor the real estate around my area and seen thousands of houses and maybe 1 or 2 foreclosures due to foundation issues 😂
Right but it’s unaffordable now. In my area not many people make the kind of money to buy $600k homes. Even if I move to another part of the state or even another state , it’s not affordable for my family. The sad part is we have a down payment that 4 years ago would’ve gotten us a home if we would’ve had that money then.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
From 2008-2012 national prices went down 25%. In the last year they went down 13%. Not counting stealth price cuts aka "rate buy downs" and "5% towards closing costs". You aren't noticing the crash because they're distracting you with lies, getting creative with their price cuts, and hiding tens if not hundreds of millions of finished homes off market
Of course, homeowners want to believe that there will never be a crash in human history ever again. And convincing people of this on social media just helps with the FOMO that majorly helps to inflate the prices further on their homes. The reality is: There is a global housing bubble.
Things peaked 2005 to 2006. The real crash happened in 2008. Prices didn’t bottom until 2011 or 2012 I believe…. Then 5 years to rebound to previous prices. I believe it was a 10.7 year total. If you’re basing it off 8 months? In the last big crash it was down 1.9% in a year. We’re at 3.7% in 5 months. You have no idea of the fine line we’re walking. The politicians in charge are in over their heads. It’s going to get baaaad. If you think otherwise then you can’t fix that kind of stupid… also important to mention. In the 08’ crash, home owners financials were in the orange. Signifying they couldn’t afford their home hence the foreclosures leading to the high supply. We’re now in the red, never been here before and this gals over-simplistic analysis is mind numbing.
It's kind of fucked up to wait for a bunch of people to have their houses forclosed and get kicked out so that others can now have a house. The whole system is fucked.
Homeowners have seen their equity explode and those on the sidelines have been priced out. Housing was never supposed to be a speculative asset, but making it so forces these resentments...
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
Rates going up , people losing their jobs , inflation climbing back up , dollar losing value … no people will still be afford to keep up with their expensive mortgages.. nothing to see here
It’s been about 22 months since she posted this, and she was correct. Home prices nation wide are up 6.4% this year, and in my area they are up almost 10%. Not enough supply and a ton of demand.
I think real estate investors are currently the irresponsible borrowers this time around. With rent hicks so high who are going to rent these houses now. Homelessness will hit new highs first but give it some time and the slow bleed will start.
The main concern is the fact that we had this insane demand and unnatural increase in housing prices for two years straight because if you didn’t overpay, you didn’t stand a chance. Demand is what kept the prices up and stable for these two years. If demand is the cause and you kill it, you kill the foundation for big increases. It’s either going to be a slow painful little to no equity gain for a long time while wages catch up, or it’s going to be slow downhill in prices which is what I’m seeing right now. And that’s with the low end (starter hones) almost non-existent. So you know that’s a bad sign.
I wonder, who were people who have been buying the last couple of years… it simply seems like stupid logic, no matter how I twisted the numbers, it made absolutely no sense to invest in real estate.
Lumber pricing finally coming down. When the lumber, steel, and other raw material prices become stable The builders will start increasing supply of homes bringing price down. It’s a buyers market right now by the way people.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
@@jesse_- Yes, pay attention to national data, the prices in some markets, and the days sitting for sale have begun to extend. It doesn't happen overnight, not to mention them monkeying around with interest rates.
History repeats itself? Actually, the banks learned from history. You don't get to get a loan without 2 years of W-2 and paystubs to justify whatever you are asking for.
Not a significant one, however. Sure, the market will correct itself - on a good day, home prices will drop 10 to 15% - but demand will still out pace supply, like, by alot. Four million homes will have to be built to keep up with demand and considering how there has been a prevalent desire for homeownership amongst millennials (or everyone), there is no way of telling how wide this gap will get. People don't want to rent anymore, people want equity.
@@deenoverdunya06 if we’re in a recession, demand will NOT be there. So if inventory goes up and there’s no demand, prices will surely fall dramatically.
Interest rates rising from 2s to 5s+ are one of the driving forces that is causing demand to go down. With low demand comes more price reductions, less to no bid wars, houses staying on the market longer = rising inventory. Rising inventory will eventually lead to sold prices going lower than the last couple years = normal and if it keeps going like this for the next 6-12 months, a buyers market.
@@deenoverdunya06 I respectfully disagree, prices will have to come down to pre pandemic levels to be affordable at the new rates. Wages are not keeping up with the inflation rate. The next few months are going to really show what the debt bubble can do to an economy. Those jobs our president keeps talking about are low wage non career gigs. A lot of hard working individuals are working two jobs now just to keep up. That’s why ppl are fearing a crash because once the cash dries up the jobs will also. Nobody is a fortune teller and I hope I’m wrong, just doesn’t look that way. Sadly…
@@deenoverdunya06 10-15%? Lol This house in Phoenix, AZ there was a house bought around 4 months in my neighborhood for $530k put it up for sell at $556k right away and right now they have it at $420k in less than 4 months lol that’s more than 15%
She's definitely not taking into consideration the fact that I now have to refinance my home just to barely be able to afford eggs, bacon and gasoline.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
Well if you actually paid attention you'd notice that the economy is being propped up by more and more spending essentially delaying the inevitable. They don't want this to happen before any election. Everyone's broke and mortgages have doubled and people are living off credit more than ever.
Yeah, let’s totally ignore that we just entered a recession and companies have already started laying people off. Most people can’t pay their mortgage without a job
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed!
This all depends in what City and State you live in. Small town in Ohio here and people are defaulting very quickly here due to low paying jobs, gas and food prices and increases in rent. So not all information is limited to your specific City.
I worked in mortgage prior to the first crash and I keep telling people this. They think the rising prices is just like prior to the crash but the reasoning for it is totally different so the end result will be as well
Crazy stuff the average monthly mortgage is now over 3k which is roughly 52 percent of peoples average income. If the housing market doesnt crash the whole economy will have to correct itself somehow. Its not sustainable.
I started to buy a house last year. Then i saw the prices. I was approved for a much higher priced home than i could reasonably afford. This is common now. Using overtime and part time jobs that allow buyers to artificially raise their income for approval. Secondly they still lending to people with less than desirable credit. Loan officers work off commissions. Theyll do anything to get you approved. Because they get paid whether you make your mortgage payments or not. Especially in this market where most arent buying. Trust me theres some shit loans going out.
Fun fact, you usually can’t mess up investing in real estate but the housing values at least in CA has gone up 40% in the last 12 months……..12 MONTHS. That means that if you buy now, you are buying a depreciating asset as all the appreciation has already happened. Most ppl are also buying these homes with 3.5-5% down with astronomical mortgages on homes that are 600k+ and you can’t forget Mello Roos for these newer communities that on average adds another 100k over the life of a 30 year mortgage, yes this sounds full proof, definitely no collapse happening. Happy house hunting!
More inaccurate information. Please don't post information unless it is fully researched. Opinions do not matter, facts do. If people stopped caring about popularity (clicks), and money (monetization) and had morals, integrity, and ethics the world would be much better.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
I’m fascinated by the psychology here. Presented with convincing data that there isn’t enough supply to meet demand, TONS of people skewered this girl for claiming that prices weren’t going to crash. 18 months later, they haven’t crashed. With interest rates coming back down in 2024, we’re going to see prices go through the roof again. I don’t know much, though. I’m only a full time real estate appraiser who gets paid to analyze markets all day
@@phillips8366 [They] say they will think about reducing rates. Until it actually happens it is not a guarantee. If people have paid attention, historically, to the patterns they will be able to see where we are comparatively to 2008 and even the great depression. Where does one look to see what is to come? Look at the financial data from around the world & again compare to what has happened in history. There is your convincing data. History tends to repeat itself when people do not learn from it (and remember it) the first time.
Just wanna let you know there is more than 1 reason Housing market Crashes..... it does not have to be the same reason every single time a crash happens 😅😅😅😅😅
This starts with the Airbnb mania collapsing and suddenly all these investment homes have to be sold or foreclosed on. I say that's a good thing. Screw Airbnb
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
Her argument here is flawed. She’s using 1 event that happened in 2008 to justify her point when in reality the housing market is much more complicated than that. We are in bad shape economically with inflation through the roof on virtually everything being sold yet income has not increased to keep up with inflation. We can point to 2008 and understand what triggered the bubble to pop in 2022-2023 it will be a combination of things.
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
CURRENT HOUSING PRICES DROPPING IS DUE TO THE HOUSES BEING OVERPRICED TO BEGIN WITH. A LOT OF THESE SELLERS GOT INTO THE MARKET ON THE TAIL END OF THE BUYING FRENZY WHEN BUYERS WERE GETTING 40 YEAR MORTGAGES AND NO HOME INSPECTIONS. THESE LATE COMERS MISSED THE CRAZY. TODAY'S PRICES ARE DRIVEN BY CHASING PRICES THAT EXISTED DURING THE FRENZY. NOW THAT'S OVER... PRICES ARE COMING DOWN EVEN THOUGH THERE IS STILL A SHORTAGE OF HOMES FOR SALE.
This video isnt gonna age well. Lol this lady thinks prices will keep rising or even stay this high forever. Must not know that markets go up and DOWN. Lol
I watched the video, she didn't say prices will continue to rise! You just need to know the difference between a crash and a correction. -30% in this market is a correction not a crash!
It’s been 1 year, interest rates are even higher, and still no sign of a slow down. Prices are even higher than they were late 2022 when we purchased. Any hope for a crash in 2024 after the new year? Fingers crossed! Hoping to watch this whole thing burn!
She posted this video almost two years ago and homes prices are still soaring. It’s economics 101. So many people were so rude to me when I told them it wasn’t going to crash. It’s like they were angry with me.
