Las Vegas Homes For Sale - Tragedy!

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Las Vegas Homes For Sale - Tragedy! The overarching lack of affordability in both the economy and real estate market is a multifaceted tragedy, driven by a combination of factors including soaring inflation, corporate greed and widespread reckless spending. In popular cities like Las Vegas, this is especially evident with the amount of Las Vegas homes for sale. The median home price has recently dropped to $440,000 with less than 4,000 Las Vegas homes for sale currently on the market. Las Vegas homes for sale, once emblematic of opportunity and prosperity, now stand as symbols of the broader affordability crisis gripping the nation. The dream of homeownership in the US and cities like Las Vegas is slipping away as prices have skyrocketed since the pandemic and now out of reach for many aspiring buyers. The economic uncertainty potentially coming later this year coupled with elevated interest rates hints at a potential decline in US home prices, including the many Las Vegas homes for sale as well. This could cause the current amount of inventory of Las Vegas homes for sale to increase while sending prices lower, which is now starting to happen. The bad news for home buyers is having to be patient and wait for lower prices which could take time to unfold. As a future home buyer, being patient unfortunately is still a potentially wise option before buying a home, especially any of the Las Vegas homes for sale. As interest rates and mortgage rates remain elevated and likely will stay that way, home prices, particularly Las Vegas homes for sale, will potentially start to recede even more. Many housing forecasts are predicting home prices to decline as we go through 2024 so waiting things out is a wise option, especially if you're thinking of buying one of the many Las Vegas homes for sale.
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Summit Properties
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8 сен 2024

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Комментарии : 820

@lasvegasliving9237 6 месяцев назад

The pervasive lack of affordability in both the economy and real estate market is a tragic consequence of soaring inflation, corporate greed, and widespread reckless spending. Nowhere is this more evident than in popular cities like Las Vegas, where the dream of homeownership is increasingly out of reach for many. Las Vegas homes for sale, once promising avenues to prosperity, now symbolize the harsh reality of unattainable prices. Aspiring home buyers are increasingly being priced out of the market due to these factors and now face insurmountable barriers to homeownership. The affordability crisis in the US and in popular cities like Las Vegas reflects broader societal challenges, highlighting the urgent need for comprehensive solutions to address the root causes and ensure access to affordable housing for all. As a local Las Vegas realtor, I help people make the move into Las Vegas all the time. Reach out to me anytime if you're considering moving to this beautiful city. It would be my pleasure to help you find your perfect Las Vegas dream home. Jerry Abbott - REALTOR Summit Properties Call/Text: 702-550-9658 Email: jerry@jerryabbottrealty.com Website: jerryabbottrealty.com

@sawtoothbygeorge 6 месяцев назад

I will do that, thank you!

@thomasreynolds1530 6 месяцев назад

This isn't going to end until people change their minds about this economy. If they're not doing it now, I doubt they ever will.

@lasvegasliving9237 6 месяцев назад

@@thomasreynolds1530 Very true. At some point we all need draw a line in the sand and make a stand at some point to end this madness.

@anthuriumandreanum6228 6 месяцев назад

😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂

@lasvegasliving9237 6 месяцев назад

@@anthuriumandreanum6228 Thanks for watching.

@Thomas63r2 6 месяцев назад

Its beyond time to ban hedge funds and foreign buyers from U.S. residential real estate.

@chinaarlene7035 6 месяцев назад

Our politicians have sold us out. They'll never ban it.

@lasvegasliving9237 6 месяцев назад

Completely agree with you. It should have never been allowed in the first place.

@ChristianC-gy1ym 6 месяцев назад

If you look at the past several years, foreign investors made up 4% of total real estate transactions. It's difficult to argue that 4% inflates the market meaningfully. These investors are primarily from China, Canada, Mexico, India and Brazil. The most affected states are Florida, California, Texas, Arizona, New York and North Carolina. It's very tempting to scapegoat foreign investors. It's human nature. But our biggest obstacle is from within. History has taught us that. Almost every single great empire fell from within, and/or by natural disasters. No external threat can topple an empire.

@Thomas63r2 6 месяцев назад

@@lasvegasliving9237 This is how they do it in some other countries - it pretty much reduces home buyers to being the people who will actually live in the house. Residential housing in the U.S. and other unaffordable countries have become investment vehicles more than their core function of being a place to live.

@Thomas63r2 6 месяцев назад

@@ChristianC-gy1ym That 4% represents just those foreign buyers who haven't hidden behind U.S. based corporation fronts. The majority of foreign bought U.S. residential real estate is somewhat obfuscated in origin. Same for hedge funds.

@jesseg8920 6 месяцев назад

I live in Las Vegas, bought a house while in the military here in 2018. When I retired from the military in 2022 I got a job that paid over $100K, my wife and I started looking at bigger homes and thinking we could afford them….the truth is to even add 500sqft to what I have now would double or triple our mortgage. So we are staying in place for now and enjoying our low interest and mortgage payment.

@reza2251 6 месяцев назад

Smart move man. And never use your house as an ATM.

@lasvegasliving9237 6 месяцев назад

Smart decision. Stay put and enjoy the lower payment.

@lasvegasliving9237 6 месяцев назад

@@reza2251 Agreed.

@tfatutors 6 месяцев назад

SMART !!! DONT OVER LEVERAGE

@kennethyoung2077 6 месяцев назад

Your tax’s and insurance are also cheaper.

@RealLifeFinance 6 месяцев назад

This is Absolutely Insane! I have spoken to over 100 applicants that have 700+ scores, $25k+ in the bank and household income of $70k to $120k. And They Do NOT Qualify for ANY Average priced houses!!!

@UneducatedGeologist 6 месяцев назад

Me and my friends make $50k-$70k and we can barely afford to live and rent an apartment.

@RealLifeFinance 6 месяцев назад

@@UneducatedGeologistApartments that were $1500 and went up $50 a year shot up to $2500 and nobody cares.

@lasvegasliving9237 6 месяцев назад

Totally shocking. We are living in crazy times!

@lasvegasliving9237 6 месяцев назад

@@UneducatedGeologist Sorry to hear that.

@lasvegasliving9237 6 месяцев назад

@@RealLifeFinance Hard to believe what has happened post pandemic.

@senmcquire 6 месяцев назад

I’m a Las Vegas Notary Signing Agent and what I find alarming is clients that I did signings for in 2020 & 2021 for 2-3% are now refinancing 3-4 years of debt at 7+% interest rates. Because of the Super inflated market they do per sa have what I call False equity, but now have a new monthly mortgage payment 1,000-1,500 more. It breaks my heart seeing this. fyi I’ve completed over 1,200 signings.

@RealLifeFinance 6 месяцев назад

I hear you. I am a lender and realtor, and many that choose not to sell I discover refinanced their $1500 payment to $2500 a month just to get their hands on $100k.

@lasvegasliving9237 6 месяцев назад

Wow. That is shocking and sad. Thanks for sharing that information.

@lasvegasliving9237 6 месяцев назад

@@RealLifeFinance People using their homes like ATMs will likely suffer the consequences to those higher payments. Foolish.

@chiragmehta8212 6 месяцев назад

@@lasvegasliving9237they won’t suffer because libtards will devise a scheme to rescue them. Until govt is forced to let ppl suffer for their largesse they will not learn.

@InvestingWithAdamK 6 месяцев назад

@@RealLifeFinanceif you’re a realtor and lender why didn’t your clients refinance with you? That’s pretty sad if they didn’t reach out to ask for help.

@terriesmith2616 6 месяцев назад

Inflation is a wealth transfer from the poor to the super rich. Remember, the goal is for us to own nothing and be happy about it.

@CategoricalImperative 6 месяцев назад

Inflation is a tax. Period. It is not a ‘wealth transfer’. Don’t know where you got that from. The wealth transfer occurred in the years with record low interest rates. Wealthy people can ‘leverage against inflation’. Because the wealthy take advantage of high bond yields, dividends, option premiums, etc…… but it’s not ‘wealth building’. In fact…. Anyone can benefit from the previously mentioned things…. But in these times, primarily only wealthy people have the extra money to make these kinds of investments.

@exmarine268 6 месяцев назад

You are correct - the powers that be seek to destroy the middle class and strip you of all your rights and possessions. They have said so explicitly. It is conspiracy fact. I am glad I am old - young people have no future.

@lasvegasliving9237 6 месяцев назад

It's a tax on everyone but it is especially painful on the lower and middle class.

@lasvegasliving9237 6 месяцев назад

@@CategoricalImperative Inflation is an awful tax but the lower and middle class suffer the most from it.

@Siclone23 6 месяцев назад

Inflation happens from money being created out of nothing which results in confiscating the wealth from the middle class.

@victoriascholl4607 6 месяцев назад

I really believe that the investors using homes to make money on rentals and home flippers have ruined home ownership for a lot of people! Also, HOAs are getting to expensive, it also adding to the housing problems!

@Stridermd 6 месяцев назад

What specifically did they do to ruin things? Everyone knows real estate appreciates in the long term so why is it bad for someone to buy a home and rent it or renovate and flip it? That's how people build wealth. If you're upset about the prices don't blame the investors or home flippers. They are charging what the market will bear as they should. It's not like they gathered every investor, flipper, wall street real estate person together and said "We're gonna jack up the prices to make renting unaffordable". There are plenty of places to rent that are affordable. Rental prices have actually gone down a bit (in 2 months they'll be bonkers again though as more CA flee their state and realize the inventory for home purchasing is weak) Investors and flippers want people in their homes not to sit on them empty. And regardless of what you think about the prices, there are people who are gladly paying it. But that's just the market. You can't blame people for asking or renting at the going market rate. It's what any person would do unless they are doing this for philanthropic reasons. I think your issue might be more with incomes not keeping pace with home values than investors and flippers.

@lasvegasliving9237 6 месяцев назад

Very true.

@lasvegasliving9237 6 месяцев назад

@@Stridermd It's one thing to invest and make a profit but it's another to completely price gouge people and try to control a market like Wall Street is doing in this space.

@ramongomez4054 6 месяцев назад

8032 Kentshire Dr , what happens when you don't have an HOA

@Stridermd 6 месяцев назад

@@lasvegasliving9237 how is wall street controlling the market? I'm seriously asking because I don't understand. Is there a vast conspiracy to have all of wall street price their rentals and flips 20% above where someone says it should be? Is this similar to what you were saying before about Dave Ramsey trying to artificially prop up the market for his own personal gain by saying now (4 months ago) was a great time to buy? Is it gouging when they're are people all over the country who can afford and want to pay the going rate? Renting isn't a bad thing. Owning a home isn't a right. Like all things, there is a cost. And if people are ready and willing to pay it (btw they have other choices, they don't always have to move or they can rent/split a home) then how is it gouging? Gouging to me means people have no choice but to pay for a necessity (gas, utilities, food etc) and the sellers all conspire to raise the prices to increase profits. I don't view housing as a necessity.... at least what people's tastes are now anyway. Shelter yes, but people's opinions of where they need to live are way overblown. Too much comparing going on with social media that unless they keep up with so and so they're "suffering".

@UncleDavesKitchen 6 месяцев назад

I ONLY shop the grocery store weekly ads and digital coupons. I got a very nice slightly used chest freezer online and stock up when the sales are exceptional. I'm starting a cooking channel on how to eat well on a budget. I'm so glad I bought and paid off my house prior to retirement. I'm sad so many others my age didn't bother, back when houses were affordable and easy to qualify for. That window of opportunity is closed now.

@ChristianC-gy1ym 6 месяцев назад

Congrats, I pray for a long peaceful and healthy life for you sir. I'm nowhere near retirement, but I pray I can be as well prepared as you are when it's my turn.

@dadrewco100 6 месяцев назад

You might be surprised at the home that are sold in February in Las Vegas . Supply cannot keep up with demand in Las Vegas .

@Stridermd 6 месяцев назад

@@dadrewco100the demand will be off the charts the next 6 months. Median price will skyrocket till the end of the year then maybe drop 5% over the winter. That's after a 15% run up though.

@lasvegasliving9237 6 месяцев назад

Glad you are able to find a way manage through this mess we have all been living in for the last couple of years.

@lasvegasliving9237 6 месяцев назад

@@ChristianC-gy1ym Nicely said.

@martys4814 6 месяцев назад

100 grand in California is like 50 grand in the Midwest….the difference gas is like 6-9 bucks a gallon….rent is ridiculous…2-4 grand just for a one bedroom apartment….I know this for a fact….my daughter graduated from LONG BEACH ST 2 years ago and she still needs two roommates just to get by…

@timsmothers8740 6 месяцев назад

Well, ain't that the shitz. And don't you believe it for a second.

@UneducatedGeologist 6 месяцев назад

My daughter lives in Montana and 3yrs ago 2 part time gals working could share an apartment. Fast forward to today and its a impossible, Its now 5 girls sharing a small 3 bedroom house.

@lasvegasliving9237 6 месяцев назад

California is a total disaster. That's why so many people are moving out of that state.

@lasvegasliving9237 6 месяцев назад

@@timsmothers8740 Okay, thanks for commenting.

@cjmuniz12 6 месяцев назад

Don’t forget about all the government spending, 60 billion here 200 billion there, new jobs, all inflationary!

@lasvegasliving9237 6 месяцев назад

Very true. Total disaster long term.

@keitha.9788 6 месяцев назад

BINGO!!!! That is the primary cause of inflation here in the U.S. in the last 3 years....

@lasvegasliving9237 6 месяцев назад

@@keitha.9788 Absurd and reckless spending!

@rl3810 6 месяцев назад

2002 feels like last week. Not 20 years. Time is flying.

@lasvegasliving9237 6 месяцев назад

It does feel that way.

@Byu50 6 месяцев назад

My home will be paid off in a few months but my kids can’t afford to get their own place. You need to make $200K plus to be able to own a home here in our area.

@lasvegasliving9237 6 месяцев назад

So true and very unfortunate. It will be tougher than ever for the younger generation.

@hvinh2204 6 месяцев назад

$200k - 70k taxes = 😢

@lasvegasliving9237 6 месяцев назад

@@hvinh2204 Sickening!

@user-rovvt3 6 месяцев назад

mission accomplished

@lasvegasliving9237 6 месяцев назад

@@user-rovvt3 🤷‍♂

@BandanazX 6 месяцев назад

The prices will rise as long as The Fed gives cheap/free money to Wall Street and the government. Do you see the government tightening the belt or Wall Street being satisfied with less?

@lasvegasliving9237 6 месяцев назад

Very true. Abysmal policy making and reckless spending is ruining the country.

@keitha.9788 6 месяцев назад

The problem is not Wall Street or large corporations. The problem is the Federal Government spending trillions of dollars that is not covered by tax revenue. They are printing money and diluting the money supply thus flooding the economy with billions of additional dollars...

@paulman246 6 месяцев назад

I live in Vancouver Canada, one of the most expensive markets in Canada. Foreign investment/speculation is one of the greatest pressures on our housing market, off shore investors buying up freehold, condos, townhouses, leaving them empty and waiting for a year or two for prices to rise, then selling to another foreign investor, and again leaving it empty. It's such a huge problem, our provincial gov't created a 'Speculation Tax' , where homeowners must sign documents annually, declaring that they live there, or, you have an additional tax, 2% of the value per year. I am wondering how bad the foreign speculation is in the Las Vegas area?

@ChristianC-gy1ym 6 месяцев назад

You telling me that there aren't any domestic investors contributing to the market? Have you not heard of syndications for wealthy domestic investors, and they are even entering the single family homes now.

@rathelmmc3194 6 месяцев назад

Speculation tax should be like 10% per year. Letting homes sit empty is so distorting to property values, and a complete waste of resources.

@lasvegasliving9237 6 месяцев назад

The amount of foreign investors buying in Las Vegas is likely worse because of the overall popularity of the city. It is absurd how much RE speculation and investors, big and small, have ruined residential RE for the average person. More tax and laws need to be in place to prevent this from continuing but I'm not optimistic this will happen anytime soon.

@lasvegasliving9237 6 месяцев назад

@@ChristianC-gy1ym There are plenty of domestic investors contributing to these skyrocketing prices but it should all be banned as it has destroyed the chance for millions of average people to afford a home.

@lasvegasliving9237 6 месяцев назад

@@rathelmmc3194 Completely agree.

@tudo290 6 месяцев назад

100K bay areas in California you will be qualified for Food Stamp😢. California takes most of your earnings through taxing in everything that you need for daily life. Highest state tax, gas, utilities and etc.... It not how much you make but is how much you get to keep is more important. In California you don't get to keep your earning much!

@lasvegasliving9237 6 месяцев назад

California is a total disaster and there's a reason why there has been a mass exodus from that state.

@thomasreynolds1530 6 месяцев назад

Most of this is factually incorrect. Property taxes in florida are higher than income taxes + property taxes in california. Florida is more expensive in healthcare and utilities. Don't let the florida spam fool you, its getting hot here fast. Oh yeah, and all insurance is more expensive in florida. I know because I've considered tech jobs out in cali and ran the cost of living down to compare.

@lasvegasliving9237 6 месяцев назад

@@thomasreynolds1530 Interesting info. Scary to think that Florida could be getting as bad as California. The big thing is that home prices are much higher in CA than FL.

@kedirbushera3511 6 месяцев назад

I definitely stop by your office if I ever buy a house in Las Vegas

@lasvegasliving9237 6 месяцев назад

Thanks so much for the support!🙏👍

@InvestingWithAdamK 6 месяцев назад

My wife and I have good income, were fortunate enough to time market well and have a 13 year old son. I expect as he gets older we will be suggesting he lives at home. I believe multigenerational living will become more common. I don’t really expect things to go back to the way they were.

@lasvegasliving9237 6 месяцев назад

Very true and very common nowadays.

@michaelsmooth1 6 месяцев назад

Everything has gone up over 20-30 % .. I had an egg white wrap and protein shake at the gym and it was over 30 dollars ! I just don't understand how people can afford to live 🤷🏼‍♂️

@lasvegasliving9237 6 месяцев назад

Wow. That is absurd price gouging.

@kagnewcobra5228 6 месяцев назад

Reckless spending. Why do they charge so much? Because they can. Quit spending folks!

@michaelsmooth1 6 месяцев назад

@@ShadyD365I didn't realize it was going to be so much 🤷🏼‍♂️, I won't do it again for sure !

@michaelsmooth1 6 месяцев назад

@@kagnewcobra5228yeah they got me but won't happen again but everything is more expensive now !

@lasvegasliving9237 6 месяцев назад

@@kagnewcobra5228 Facts!

@jackcovington645 6 месяцев назад

To see young people being hurt by our economic downfall is sad. I am retired, and believe me it is worse for retirees. It made me sick to hear Yellen’s comments that prices do not need to come down as wages are keeping up. Not Americans would not agree.

@lasvegasliving9237 6 месяцев назад

She's delusional and I will be referencing her most recent gaslighting interview next week.

@nevastrong2850 6 месяцев назад

Younger people voted for B. Now they can learn what happens.

@nevastrong2850 6 месяцев назад

Yellen is an idiot.

@lasvegasliving9237 6 месяцев назад

@@nevastrong2850 It will be interesting to see how this election year plays out.

@luvlabso130 6 месяцев назад

Voting has consequences.

@situationmoney 6 месяцев назад

They're doing the same thing at retail stores on a smaller scale. Pre/Post pandemic pricing... Box of oatmeal - then $2, now $4 *** Box of raisins - then $2.80, now $5 *** Loaf of bread - then $2, now $3.90... Auto supplies: Motor oil 5qt bottle - then $12, now $21 *** Can of AC refrigerant - then $4.50, now $10 *** 20 gallon air compressor - then $200, now $320... And there are thousands of additional examples. Doesn't seem like much, but when you look at the percentage increase, it gets ridiculous. I can understand maybe 10-20% increases, but these are 60-100% increases and more. And it looks like these over-inflated, post pandemic prices will never go down. What happened to the "recovery" after the pandemic??? The big scam on consumers continues...

@lasvegasliving9237 6 месяцев назад

It is completely insane to see what has happened to prices in such a short time. Brutally unfair.

@LessThanHandy 6 месяцев назад

All you mentioned is absolutely on point.

@exmarine268 6 месяцев назад

There is no housing shortage in central TX - many homes have been on the market for months and there is a ton of inventory. Prices in my area have cone down 11 pct in past year.

@agentdarkness7927 6 месяцев назад

Californians are locust. Be careful, or they will invade your home.

@VegasElement 6 месяцев назад

Which cities?

@lasvegasliving9237 6 месяцев назад

Real estate will always be local and based on location/demand. Thanks for sharing that info.

@rickreese5794 6 месяцев назад

Thx for the info 😊

@josephferrel8830 6 месяцев назад

San Antonio area?

@jamesmurphy9346 6 месяцев назад

According to the Las Vegas Review Journal a renter has to make $70K a year to afford rent. Crazy economics, greed, and kick the can down the road and deal with consequences later.

@lasvegasliving9237 6 месяцев назад

Just saw that the other day. Truly crazy times, especially with what has happened here in Las Vegas.

@ganderson2808 6 месяцев назад

@@lasvegasliving9237. Yes and some that cannot afford things just rob homes and steal from others!!

@raiderscorpio5629 6 месяцев назад

its absolutely true . with a combined married status income , we’re barely getting by monthly . i cant believe how bad rent has gone

@jamesmurphy9346 6 месяцев назад

@@raiderscorpio5629 in my opinion their plan to have all of us paying rent and never owning it free and clear.

@lasvegasliving9237 6 месяцев назад

@@raiderscorpio5629 Truly astonishing levels of inflation in all sectors.

@bbs7848 6 месяцев назад

My wife and me make over 200k and we are priced out.

@ChristianC-gy1ym 6 месяцев назад

😮 Where are you located??

@reza2251 6 месяцев назад

I bet it’s dana point.

@lasvegasliving9237 6 месяцев назад

Sad to hear that.

@lasvegasliving9237 6 месяцев назад

@@ChristianC-gy1ym Location matters and yet it's not uncommon for higher earning people/families to be in this situation.

@lasvegasliving9237 6 месяцев назад

@@reza2251 That would likely be one area to be priced out of on that income. Sad.

@stevenchandler7783 6 месяцев назад

People are not connecting inflation with the out-of-control Washington D.C. spending. People are conditioned to instant everything and the extra step of a time-lapse baffles them.

@lasvegasliving9237 6 месяцев назад

Very true!

@jfreedom4290 6 месяцев назад

Same as my wife and I ! 2016 bought a new 2 car garage 2 bedrooms,2 baths 1150 sq ft townhouse in a gated community! Paid 108k owe 65k payments are $650 a month including taxes insurance hoa 125$ at a 3.9 percent interest rate ! Can sell for 285k but to upgrade to a home no stairs getting older can’t afford no 485k and still have a payment about $2100 at 7 percent interest with a huge down payment! For 30 years no way ! We will pay off are 65k balance in about 6 years and be able to retire! And not die at Walmart floor trying to pay hundreds of thousands of dollars! And we will buy a stair lift to go up the stairs if that’s what it takes ! Or if things crash in Vegas then maybe we could afford! Vegas got ruined by California money ! Vegas wages don’t pay this kind of money ! The haves and have nots ! I remember rent from 1999 to 2016 was around $900 a month affordable for years not no more we just like California rent ! $1900 rents or $2500 mortgage payments who can afford that ! It’s simple people from California sell their homes that they bought in the 80’s paid $450k now sell them for about $985k so they have $450k extra after they buy $500k homes in Vegas and retire with $400k in the bank ! So people growing up in Vegas don’t have a chance and must move out of state ! Can’t afford Cali Vegas ! And my wife and I make over $100k but with the costs of everything we can’t afford to buy a better home ! Food, car , home insurance insane utilities doubled ! Taxes etc are just eating your $$ away ! Sad what happened to Vegas !

@lasvegasliving9237 6 месяцев назад

Thanks so much for sharing that information. Pretty shocking and sad all at the same time as to how things are unfolding in this overinflated economy. Sit tight if you can and try to be comfortable at your current place.

@lorenl9262 6 месяцев назад

Hello Jerry :)- As a regular follower of your channel for a long time now, I am really nervous to the direction of our country. I have lived in Vegas for over 13 years now and I am slowly being priced out of the market and I only rent a one bedroom apt on Fremont Street. Vegas is nothing more that an over priced suburb of LA since the pandemic!!! I am on my way OUT!!! :(-

@lasvegasliving9237 6 месяцев назад

It is stunning how much Las Vegas has changed since the pandemic. Housing affordability is rapidly becoming a thing of the past in Las Vegas, much of it due to so many Californians moving here. Sad and unfortunate.

@oklahoman8222 6 месяцев назад

I can't quite put my finger on this issue. It reminds me of herding cattle from one cattle pen to another pen...example: price homes out of range, herd people toward rental...homes become affordable, herd people toward homes. With corporate owners they call the shots and the American people are led or herded the way corporate investors want. As for "keeping up with the Jones".... I'm thankful for my wife and our relationship dealing with everything in our life and being like minded. Financial planning, paid off house, budget under control....I'm thankful for her and our way of thinking and investing for our future. Keep up the great videos!!!

@lasvegasliving9237 6 месяцев назад

Thanks for sharing your thoughts and the support!🙏👍

@pnketia 6 месяцев назад

Just like in Austin, Texas I think the flood of California buyers into the Las Vegas area paying cash at higher prices just for a quick move in away from high tax states like California is also contributing to the higher prices. I put an offer on two houses in Summerlin only to be outbid by all cash offers that were $80k over the asking price.

@lasvegasliving9237 6 месяцев назад

Agreed. The mass exodus from California has massively contributed to the housing problems. Reach out direct anytime if you need any help.

@ilan6987 6 месяцев назад

Great presentation but l've been waiting out for 3 years now for vegas prices to drop... They just been going up. The reason is that, californian are the majority movers and there is a lack of inventory, but the main simple rule is that as long as there is an inflation the home prices will just continue to go up.

@lasvegasliving9237 6 месяцев назад

It has been a very challenging time in the real estate market over the last couple of years. The combination between the pandemic, inflation and corporate greed has been truly astonishing. Even more astonishing though is consumer spending. I think we will finally see prices come down in a more substantial way once the economy hits rough water, but that may take more time to happen as RE down cycles can and usually take several years to play out.

@bobbowie9350 6 месяцев назад

You trusted Jerry? Lol

@nevastrong2850 6 месяцев назад

The best time to plant trees is now; the best time to buy real estate is now if you can afford it.

@lasvegasliving9237 6 месяцев назад

@@bobbowie9350 Thanks!👍

@lasvegasliving9237 6 месяцев назад

@@nevastrong2850 Easier said than done for many people.

@walterpeebles295 6 месяцев назад

jerry it is not just high prices in your local las vegas area. It is widespread in things like college tuition. New car prices. food prices. I live in southern calif. The house I live in is supposedly worth 1,000,000 dollars. Yeah right, the house was was sold for back in 74 when I got out of the army; for 33500. Mind you fuel back then was around 0.65 cents a gallon. cigarettes were around the same price per pack. minimum wage was 4.00 hour. The problem is the value of the dollar has decreased to the point where one needs to fill your trunk with dollars to buy a tank of fuel. ditto for groceries. that's right folks dump those dollars in the shopping cart and walk out with a loaf of bread. It is looking a lot like the 'd' word will be the solution. Got homeless in Vegas.? come to cali, you ain't even in the same league.Bless you sir.

@lasvegasliving9237 6 месяцев назад

Times have certainly changed and so too have prices across all sectors.🤷‍♂

@thomasdavison8996 6 месяцев назад

Hi Jerry, I live in Califormia and I would love to buy a home, but because of threats of wildfires Insurance rates have escalated from 3K a year to up to 8K a year. Or some Insurance Companies don't even take on new accounts. So how are people suppose get a loan if they can't get Insurance? They would need to come up with 100% of the purchasing price. Unless you are really rich, most people can't get a loan for a home.

@lasvegasliving9237 6 месяцев назад

Wow, that is unfortunate to hear and part of the reason for the mass exodus from California.

@reginafisher9919 6 месяцев назад

Spending is down by 14%, I work at Amazon we have no work we've had voluntary time off for a month now, I can assure you people are not spending!!

@lasvegasliving9237 6 месяцев назад

It surely doesn't feel like that in other ways.

@reginafisher9919 6 месяцев назад

@@lasvegasliving9237 it was just reported on the news this weekend, that's if you trust the News.

@agentcrypto7741 6 месяцев назад

Love that you always say. “If you don’t have to buy a high ticket item don’t do it.” I’m on the back end of millennial and I constantly have to talk my friends from buying rn cars or housing. Personally I just derisked my portfolio into HYS. Have a small portion in silver and 6% employer match 401k. Our time will come when the market is forced to correct itself and we can buy something more reasonable in price.

@lasvegasliving9237 6 месяцев назад

Thanks for the support and hang in there!🙏👍

@dekaywill4572 6 месяцев назад

Here is another update. Just got my home owners insurance bill for next year and surprise surprise it went up 40 percent from $1900 to $2700. Wow. I shopped it around and it was even higher. $3700 to $4700. F'n crazy.

@lasvegasliving9237 6 месяцев назад

Unreal! Hard to believe these new costs.

@carlosmontenegro1930 6 месяцев назад

You covered this very well

@lasvegasliving9237 6 месяцев назад

Thanks so much for the support!🙏👍

@thomasfranco5997 6 месяцев назад

That is why my niece just went to Guadalajara, Mexico. Her and her boyfriend want to buy a house out there. He has family out there. She says there are many High-Tech companies out there and the houses are cheap. California is way too expensive for them, and they do not want to rent.

@lasvegasliving9237 6 месяцев назад

I have heard several people looking to do that same move.

@iptvclub1575 6 месяцев назад

I’ve been shocked for some time that Las Vegas is as cheap as it was. Seems like a very desirable area with no state income tax, amazing connectivity (you can fly almost anywhere from Vegas), shortish drive to LA, 4 hr drive to Phoenix, all the entertainment options and great food you could want. When I moved to Reno in 2017 and saw that house prices here. I was amazed at why it was so much more expensive than Las Vegas. Based on demand I would have thought Las Vegas would be much higher value, do you have any insight on the reason?

@bobbowie9350 6 месяцев назад

Jerry has no clue.

@lasvegasliving9237 6 месяцев назад

Las Vegas home prices have skyrocketed since the pandemic. What was once an affordable city is no longer the case. People have been moving here in droves and prices reflect that from just a few years ago. Nothing like California but still much higher now.

@lasvegasliving9237 6 месяцев назад

@@bobbowie9350 Always appreciate the support! 👍

@beaumac 6 месяцев назад

It’s because people from the SF Bay Area move to Reno to be close to Tahoe. It’s also much smaller so there’s less housing supply.

@lasvegasliving9237 6 месяцев назад

@@beaumac True.

@SpiderC-666 6 месяцев назад

Many people have bought their homes in my neighborhood for many years but then a new mayor took over the city and approved 40 years tax abatement to so many developers while doing a tax assessment to working class people to which property tax has gone doubled! Basically, wealthy people living in luxury buildings get to live there w/o paying property tax while working class people have to pay double the tax or sell their properties and move out. A lot of problems in our world are due to sell out politicians working for Wall Street.

@lasvegasliving9237 6 месяцев назад

Wow. It's one big dirty game with many dirty/greedy players.

@chiragmehta8212 6 месяцев назад

I hate to think this way but only way these govt officials will be honest is if some ppl resort to more persuasive methods. I am talking third world level persuasion

@seanpop2886 6 месяцев назад

... what's the political affiliation of the city council, mayor and state representatives for your city?

@lasvegasliving9237 6 месяцев назад

@@chiragmehta8212 It's a big dirty game.

@realShadowKat 6 месяцев назад

100K in California has not been "a lot" for a while. I remember back in 2008 I was offered to relocate to a job in the Bay Area at over $115K. I went there for a week to shop around and noticed quickly that I wouldn't have been able to afford much close to what I had in the Midwest. I ended up not taking that job and staying put. Looks like that was the best dodge I've had.... but now I'm on the precipice of moving to Las Vegas... wish me luck.

@lasvegasliving9237 6 месяцев назад

You need to likely make well over $200K in CA to live comfortably there. That's still not the case in Las Vegas but it certainly has gotten a lot more expensive here. Good luck on the move. Reach out anytime if you need any help.

@silosvince 6 месяцев назад

The grass is always greener……

@realShadowKat 6 месяцев назад

@@silosvince or in Vegas, the sand is browner. 🤣 Though my partner has received what might end up being the career possibility of a lifetime so it's at least worth a shot or would have to live with "what if..."

@lasvegasliving9237 6 месяцев назад

@@silosvince Sometimes yes, sometimes no.

@websurfer2344 6 месяцев назад

Fantastic! Yes, prices are high everywhere and in everything. My only concern is why people are not managing your money. Let's start there and maybe you won't be living out of your means.

@lasvegasliving9237 6 месяцев назад

Most people just spend recklessly and especially so post pandemic. None of it makes sense and the debt people are taking on is unimaginable to fund their lives.

@1TDECK 6 месяцев назад

I am sad to say this but most of you watching this will never own a home. At this point it is just wishful thinking. You can thank much of this on our politicians on both sides of the house and ultimately ourselves for putting our heads in the sand and not participating in the process. If you are lucky you will rent a nice apartment. Our politicians have no concern on protecting the middle class American dream.

@lasvegasliving9237 6 месяцев назад

Sad but true.

@Animal_Pack 6 месяцев назад

The sad part are all the 20 and 30 something years old who cannot buy a house and pay over $1500 per month for an average apartment. The first time home owners are stuck with not being able to afford the mortgage payment of a $400K house.

@lasvegasliving9237 6 месяцев назад

Homeownership or renting has become incredibly challenging for millions of people post pandemic. Sad to see how quickly things have changed for the worse.

@iMaybeRight 6 месяцев назад

Just had a buddy move back to Vegas because he couldn't afford the Inland Empire on 100k with a family.

@lasvegasliving9237 6 месяцев назад

We are living in crazy times and even Las Vegas is out of reach for many people.

@hulagirl98 6 месяцев назад

I’m from Maui Hawaii. It will cost you a million to buy a shack!!! And now to just rent is impossible because fema is helping all the displaced people from the Lahaina fires. There’s still 5000 people living in hotels. And they need them to get out. So they offered anyone who will rent to them will get up to $10.000 a month that fema will pay. Even for a 2-3 bedroom. But you have to be one of the 5000 who are affected by the fires. So what’s happening is people are now getting kicking out of there rentals cause they want the Lahaina people in to make $$$. So sad. So if your looking for a place to rent on Maui your up against 5000 who will pay more then you can afford because of fema. If you look up Maui rentals you will see a one bedroom can cost you now $2-3000!

@lasvegasliving9237 6 месяцев назад

Unbelievably sad to hear that. Billions given to Ukraine and barely $15M given to those Hawaiian residents.

@franka.7481 6 месяцев назад

The number of properties with foreclosure filings in January is up 5% compared to a year ago and 10% from December, according to real estate data provider ATTOM's January 2024 U.S. Foreclosure Market Report. The report shows there were a total of 33,270 foreclosure filings - default notices, scheduled auctions or bank repossessions.

@lasvegasliving9237 6 месяцев назад

Thanks for that info. The bad news is lurking in the shadows and when it gets worse it will be too late for many people. This is a silent recession that millions are suffering through while taking on huge debt to maintain their lives. I see it getting worse over time.

@stevendgrissom1968 6 месяцев назад

WEF. YOU WILL NOT OWN ANYTHING AND BE HAPPY

@lasvegasliving9237 6 месяцев назад

They seem to certainly want to make good on that statement.🤷‍♂

@lasvegasbreakingnews1752 6 месяцев назад

Saw a report that said for 2023 was the lowest home sales in forty years. People just don't want to accept, we are in a recession that is only spiraling downward. There is no recovery in sight.

@lasvegasliving9237 6 месяцев назад

Most people have their heads in the sand and consequences are coming for all the money printing/spending.

@Dancer1292 6 месяцев назад

Who has this kind of money to buy homes

@lasvegasliving9237 6 месяцев назад

A lot of people, especially in wealthier areas like California.

@Byu50 6 месяцев назад

The rich only. Middle class gets bend over. The poor gets a handout.

@lasvegasliving9237 6 месяцев назад

@@Byu50 That is certainly one way of putting it.🤷‍♂

@norsenorth5744 6 месяцев назад

Go back to California!!! Take all people go back to California so this isn't California man!

@dronebuzz 6 месяцев назад

FOMO = Initialism, Not acronym. Nice report! Thank you! ;-)

@lasvegasliving9237 6 месяцев назад

Thanks for the support!🙏👍

@JD-9339 6 месяцев назад

I agree about the high food prices. My wife and I live in northern Nevada and we are on retirement and are spending $700.00 a month on food also. This is nuts. The wife and I love your show. Please keep it up. See ya later

@lasvegasliving9237 6 месяцев назад

Prices are simply outrageous everywhere. Thanks for watching, sharing and the support!🙏👍

@hidesertdave6166 6 месяцев назад

I agree corporate greed is out of control with some realtors assisting them by listing these high prices on homes too.

@lasvegasliving9237 6 месяцев назад

Greed on all levels is completely out of control.

@keithn4304 6 месяцев назад

Post Covid, we had "Revenge Spending". Then we had "FOMO Spending" , and now we have "Last Chance" Spending - where people still have a few more grand before hitting their credit limit. Smoke-em if you got-em.

@lasvegasliving9237 6 месяцев назад

Insane reckless spending will have consequences down the line.

@VegasElement 6 месяцев назад

You can definitely live in CA on a $100K salary, her standards must be unreasonably high.

@lasvegasliving9237 6 месяцев назад

Possibly but not comfortably.

@VegasElement 6 месяцев назад

She's bringing home about $8.5K/month before taxes. She could get a nice 1br/1ba apartment at the Malibu Canyon Apartments in Calabasas for $2300/month with plenty left over. @@lasvegasliving9237

@VegasElement 6 месяцев назад

@@lasvegasliving9237 I see my follow up comment was deleted....

@Tam84USA 6 месяцев назад

Median single home price almost $1 Million. How is someone able to afford that with $100K salary?

@lasvegasliving9237 6 месяцев назад

@@Tam84USA Nearly impossible for most and have to live in less popular areas to have any chance at affordability.

@nitemoves3157 6 месяцев назад

2020, money supply went up 20%. “Everybody was FOMO spending, it was fast as lightning!”

@lasvegasliving9237 6 месяцев назад

Consumer spending is just out of control and why we have over $1 trillion in collective credit card debt.

@mike9132 6 месяцев назад

Janet Yellen testified before congress the other day that prices *don't* need to come down because wages are going up. So she just needs to make more money. And its not just consumer spending, its state and local governments are spending like mad. Here in northern NV, every city agency is driving new electric cars. Covid money still going strong.

@lasvegasliving9237 6 месяцев назад

I just saw an interview with her and it's scary to listen to such gaslighting nonsense.

@josephfrank1472 6 месяцев назад

She is a lying ass!

@keitha.9788 6 месяцев назад

I wouldnt listen to Janet Yellen. She isn't very smart....

@mike9132 6 месяцев назад

@keitha.9788 well she is in charge of the US dollar so you really dont have a choice

@lasvegasliving9237 6 месяцев назад

@@keitha.9788 Agreed.

@BREEZYM6015 6 месяцев назад

I would like to know more about the woman in the beginning that made $100,000 last year. Does she have children? Where was she living and how much was she paying in rent that has forced her to move back in with her parents? Does she have a car payment that might be really high? We need more information in order to determine if she's truly unable to survive in California while making $100,000 a year. Just saying that without giving more details doesn't do the viewer any good.

@lasvegasliving9237 6 месяцев назад

I don't know any other details but making $100K in California is like $50K in other average cities. It does not go far in today's world.

@donnsarian5142 6 месяцев назад

Hi Jerry, we enjoy watching your channel. Very informative. We feel very blessed to live where we do, in California, believe it or not. It's beautiful and very affordable. It's sad to hear people say that this state is unaffordable across the board. Not so. We live a couple of hours north of Sacramento, up the I-5 corridor. One can still buy a nice home (2-3 bdrm, 1000-1300 sq. ft.) for under $300k. The crime rate appears high online, but it's inacurrate because of the homeless population preying on each other. Anyway, just thought we'd throw it out there.

@lasvegasliving9237 6 месяцев назад

Thanks for watching, commenting and the support! Much appreciated!🙏👍

@ProCoach2373 6 месяцев назад

LOS Vegas......... Most laugh, but it's the truth. By the way, the median price is UP 8k so far in February. I'm retiring from real estate, but I still watch the stats.

@lasvegasliving9237 6 месяцев назад

Median home price is down in the past month but prices overall since the pandemic have skyrocketed as inventory remains quite low.

@TuanNguyen-yc4wz 6 месяцев назад

Good Morning 🌞 Jerry Real Estate News 👍⭐️🏠🥰🇺🇸

@lasvegasliving9237 6 месяцев назад

Good morning/afternoon! Thanks for the support!🙏👍

@josephferrel8830 6 месяцев назад

I bring home about 110k and I'm in California and I'm not struggling. Bought my house in 2020 with 2.7%. But I do recognize the major difference in my extra money going to utilities and groceries.

@lasvegasliving9237 6 месяцев назад

Good for you but even with a 2.7% rate and it is very tough as you mentioned because of utilities, groceries, insurances, etc have also skyrocketed.

@davidmajer3652 6 месяцев назад

Thoughtful presentation, there is no doubt those four factors are to blame.

@lasvegasliving9237 6 месяцев назад

Thanks for the support!🙏👍

@Idelia412 6 месяцев назад

My suggestion to the lady making 100K. Save aggressively for several years to have a down payment and start out small. No big house, older, won't have stainless steel appliance, etc. My nephew and his wife bought a 40s house, fixed it up, and sold it and bought a house in Redondo Beach. Start small and move up. Building is booming where I live in the Phoenix area. Housing in my area has dropped but not significantly especially in the 45+ HOA area I live in. Most buyers in my development are cash buyers. My house dropped 10K in the last 6 months, but started to rise lately. Food is higher on some things, but other items such as meat and dairy have dropped.

@chinaarlene7035 6 месяцев назад

Loving several years with your parents is quite depressing and insufferable.

@Idelia412 6 месяцев назад

Yes...but will allow her to buy a house with a down payment.

@chinaarlene7035 6 месяцев назад

@@Idelia412 if she survives. I did it that way and barely survived 🙃

@lasvegasliving9237 6 месяцев назад

Agreed. Live at home and save is the best option for the younger generation.

@lasvegasliving9237 6 месяцев назад

@@chinaarlene7035 It can be for many people but makes life a bit easier in other ways.

@pushrodgarage4963 6 месяцев назад

Not only are we gouged on daily items and utility bills but were totally screwed on our taxes at the end of the year due to all of the PPP money that was given away to businesses that didn't need it now we get to pay the price.

@lasvegasliving9237 6 месяцев назад

Very true and absurdly unfair.

@victortoombs4754 6 месяцев назад

The real problem I see for the future are insurance companies and HOAs. Virtually every new community being built now has an HOA, and they are really intrusive and ridiculous with their rules. What's worse are insurance companies that decide to drop homeowners and just pack their bags and leave the state. As global warming impacts more and more states (fires, floods, hurricanes, and earthquakes), more and more homeowners will see their insurance rates double or triple or just be labeled uninsurable due to their location. What a tragedy.

@nevastrong2850 6 месяцев назад

ESG policies falsifying climate warming.

@lasvegasliving9237 6 месяцев назад

That is certainly another tragedy. Hard to believe what has been happening post pandemic.

@stevecuahuizo792 6 месяцев назад

I work for a corporate company they won’t pay more . Inflation bills at home are much higher about 30% more . I am working on my credit me and my wife plan to buy next year

@lasvegasliving9237 6 месяцев назад

Companies never want to pay their employees more money. Inflation is destroying the dollar and purchasing power making it very challenging for most people to get ahead. Reach out anytime.

@rzislam1 6 месяцев назад

I live in the Bay Area and you need 120k/yr to just survive SF, not be comfortable but just survive. 100k/yr in many counties on the peninsula and south bay is considered low income and would qualify you for below market rate rentals. to purchase in the bay area you'll need to earn a minimum of approx 400-500k/yr😢

@reza2251 6 месяцев назад

Not to mention the mountains of human excrement, you would have to live next to

@rzislam1 6 месяцев назад

@@reza2251 that's SF & Oakland maybe San Jose where the homeless issue is beyond ridiculous everywhere else it's the crime/theft that you have to worry about

@lasvegasliving9237 6 месяцев назад

The Bay Area is a disaster on many fronts. I have heard horror stories about that area.

@lasvegasliving9237 6 месяцев назад

@@reza2251 Not a pleasant area to be in for the many people living there.

@lasvegasliving9237 6 месяцев назад

@@rzislam1 Very much a disaster and many have moved from that area as a result of so many problems there.

@CosmicLab167 6 месяцев назад

Consumer spending (and living beyond income) definitely needs to come down. Do you really need the latest iphone or the 10 ton AWD behemoth to get groceries?

@lasvegasliving9237 6 месяцев назад

Unfortunately, many live like that and that is the main culprit for all the inflationary problems. Consumer spending is unending and until that slows down we won't see any meaningful changes.

@onebridge7231 6 месяцев назад

I’ve owned before, but have been renting the last decade. All my savings go into retirement so I can retire early and move overseas to build my dream home with architectural design. Not these overpriced boxes with only a nice front facia that all look the same. Plus the HOA fees are too much.

@lasvegasliving9237 6 месяцев назад

Good for you. 👍

@Tam84USA 6 месяцев назад

What country are you thinking on moving?

@mikeh4800 6 месяцев назад

In the Northern San Francisco Bay Area, a single bedroom apartment is $1,600 a month. And you must make $62,000 a year to qualify. If you own your home and have a low interest rate, why would you sell your home to get an interest rate of 8% or more. The interest rate on home loans is one of the driving forces keeping inventory low. In my case, I have lived in my home for 33 years and own it. Prop 13 is keeping my property taxes manageable. Should I sell and stay in California, my property tases in most cases would increase 3-5 times what I am paying now. On a retired income, that is not happening.

@lasvegasliving9237 6 месяцев назад

This is why so many people from California are migrating to places like Las Vegas where cost of living is far cheaper.

@dadrewco100 6 месяцев назад

Very strong home sales in February.

@user-sd5ow2lz9o 6 месяцев назад

In my area too 9 counties of Northeast Jacksonville FL. Weird how so many can still not only feel they can afford initial costs to buy, but also ongoing costs of not only regular maintenance and periodic surprise large repairs or needed upgrades, but also ongoing continual rising costs of insurance and property taxes plus ongoing rising costs of everything else needed to just exist! Especially in an uncertain future job market where many may find themselves not only suddenly unemployed, but also unable to land new positions at a similar pay rate due to shifting economy and growth of AI and robotics!

@lasvegasliving9237 6 месяцев назад

Yes, especially for the winter time period. None of this make sense at this point with still elevated rates.

@bobbowie9350 6 месяцев назад

@lasvegasliving9237 waiting for the "there's no crystal ball" quote ..lol

@lasvegasliving9237 6 месяцев назад

@@user-sd5ow2lz9o People live in the moment and don't seem to care about future costs.

@lasvegasliving9237 6 месяцев назад

@@bobbowie9350 Appreciate the support!

@user-rovvt3 6 месяцев назад

Larry and his ilk will own all residential RE, renting is your only option. that is the goal and they are doing very good achieving it.

@lasvegasliving9237 6 месяцев назад

Not a chance that will happen.

@borlanderobertson5666 6 месяцев назад

Thanks for the honest analysis ❤

@lasvegasliving9237 6 месяцев назад

My pleasure! Thanks for the support!🙏👍

@adelefortin6913 6 месяцев назад

The girl making $100,000 income is lucky she has a father she can go and live with. There are many many people that don't have $100,000 income and have to survive on much less. Do you really believe anything is going to improve in the next few years??? She'll be living with Mommy and Daddy for quite a while

@fozzir 6 месяцев назад

She needs to make at least 150k if she wants to buy in Cali. Maybe she can get a condo in the ghetto with her 100k but she won't be very happy.

@lasvegasliving9237 6 месяцев назад

Very true. Sad to see how much things have changed since the pandemic.

@lasvegasliving9237 6 месяцев назад

@@fozzir Hard to believe that but likely true. 🤷‍♂

@g9351 6 месяцев назад

Seeing a change on this channel is good. Finally I don't have to watch the blames on Zestimate's inflated algorithm. People already know this nonsense as a common sense so no need to repeat. Affordability is one issue in RE but not all. Look forward to more analysis from different angles in the future. This video has the supply and demand included. I'd encourage you will add more numbers as part of the analysis such as new listing, house sold, DOM,... Also, impact from the Wall Street, and exodus from California, home insurance, how to buy a house in Vegas, home improvement.... etc. There are tons of topics to talk in the housing market.

@bobbowie9350 6 месяцев назад

Jerry is a snake.

@lasvegasliving9237 6 месяцев назад

Thanks for the feedback. Food for thought.

@lasvegasliving9237 6 месяцев назад

@@bobbowie9350 Thanks for the support!

@user-pc6kn4qi6u 6 месяцев назад

Things are so bad. I know a guy who lives in a shack down by the river. His rent is 4K monthly.

@lasvegasliving9237 6 месяцев назад

Lol...thanks for watching.

@rickvang7313 6 месяцев назад

100k salary is the new 50k. If even that? Inflation and everything has gone up. Rent utilities and essentials etc.. It is to keep average Americans from buying a house and obtaining the American dream.

@lasvegasliving9237 6 месяцев назад

It really is true!

@agentdarkness7927 6 месяцев назад

Acknowledge the root cause of rental inflation. Politicians passed a moratorium on evictions. Nobody paid their rent while receiving thousands of dollars in unemployment. It came time to pay the piper and everyone scrambled to move at the same time. People moved with thousands in pocket and rental property owners knew it. Having to recover from loss rental income and the demand for housing created the perfect storm for inflation. If people would have been responsible with all the extra unemployment money and paid their bills this inflation crisis could have been minimal.

@lasvegasliving9237 6 месяцев назад

Well said and quite true.

@nekerrivera 6 месяцев назад

One hundred thousand dollars in NY after taxes is like 70K which is nothing in New York

@lasvegasliving9237 6 месяцев назад

Very true.

@MORE1500 6 месяцев назад

Rather than lower prices, some believe that 100-year mortgages are the solution. Not so sure.

@lasvegasliving9237 6 месяцев назад

That is not the solution. That's just another way of justifying these obscene prices.

@Dive-Bar-Casanova 6 месяцев назад

We always agree with you Jerry. Thumbs up.

@lasvegasliving9237 6 месяцев назад

Thanks so much for the continued support!🙏👍

@TheWayOfTheJragon 6 месяцев назад

Unfortunately, and absolutely sadly, in order to even get approved for a new home loan, you have to make a minimum of $200,000. So imagine, you would have to make more just to live comfortably. She is telling the truth 100%. $100,000 a year in CA really isn't enough.

@lasvegasliving9237 6 месяцев назад

No, you don't need $200K to get approved but that number is certainly creeping up, especially in places like California.

@TheMinimalistMom1 6 месяцев назад

We just closed on our condo in Vegas. And THAT is all people can afford these days. A condo

@lasvegasliving9237 6 месяцев назад

Not for everyone but it certainly has become less affordable here since the pandemic.

@gwarlow 6 месяцев назад

House price increases (like some rents in certain areas) should be kept in line with inflation and not considered as “investments”. Also, who needs 5000+ square foot homes? Stop building excessively large houses which use more materials and cost more to heat/cool and maintain. Previous generations raised families in homes WELL under 2000 square feet and they “survived”.

@lasvegasliving9237 6 месяцев назад

Inflation, corporate greed and unending consumer buying is what has fueled this insane economy.

@tfatutors 6 месяцев назад

STOP BUYING LAMBO'S AND STUPID LUXURY BAGS.

@lasvegasliving9237 6 месяцев назад

Most people are not even remotely buying Lambo's or luxury handbags.

@dennisb933 6 месяцев назад

Time to boycott the housing market. Just refuse to buy until it comes back down. Rent, buy a camper, whatever.

@lasvegasliving9237 6 месяцев назад

Boycotting would help but unlikely to ever happen.

@daneparker28 6 месяцев назад

Jerry, thank you for keeping it real no matter how much the facts hurt and the haters hate. This Buds for you 🏠🍺👏👏👏👏👏😎

@lasvegasliving9237 6 месяцев назад

My pleasure and thanks so much for the support!🙏👍

@jomomma1072 6 месяцев назад

Speaking of groceries. I spent $75 on one bag from Walmart the other day. It’s usually around $50-80 for 1 - 2 bags. I don’t understand what’s going on? What do they want ? All of us homeless. Have you seen the homeless in Las Vegas or Portland recently? Wtf? 7-8% interest on totally overvalued homes. 100k a year is a joke now. Literally tell me, what do they want?

@lasvegasliving9237 6 месяцев назад

I hear you. Millions of people are so frustrated and yet those in charge continue to tell us we are better off now than before the pandemic is sickening. Pure gaslighting. Hopefully things change for the better but I don't see deflation coming anytime soon.

@bpprovit 6 месяцев назад

"If the American people ever allow private banks to control the issue of their currency first by inflation then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered... I believe that banking institutions are more dangerous to our liberties than standing armies... The issuing power should be taken from the banks and restored to the people to whom it properly belongs" Thomas Jefferson

@Kelly_kit16 6 месяцев назад

No increase in house prices, but the US dollar took a hit. Printing loads of money leads to that!

@lasvegasliving9237 6 месяцев назад

Not sure what you mean.

@YesCivic-R 6 месяцев назад

yea, suppose you live in Japan, -save 10k a year for not owning a car, apartment rental is less than $1000 for 800 sq ft. apartment, or own a home for $650 -850 mortgage payment monthly ( .76 interest APR due to Japan ultra low interest rate now), $500 annual property tax. So if you make $60 k in japan that's equivalent to US, pay no tips 15%-20%. Or if you can work remotely from home, you are all set.

@lasvegasliving9237 6 месяцев назад

Thanks for sharing your thoughts.

@pauliesameshima4803 6 месяцев назад

Jerry you’ve been saying the drop was coming it will get worse watch you all the time aloha🤙🤙🤙

@lasvegasliving9237 6 месяцев назад

Rea estate down cycles usually take several years to play out.

@hemaccabe4292 6 месяцев назад

Should lead with inventory.

@lasvegasliving9237 6 месяцев назад

Thanks for the feedback and watching.

@jaydmackley1256 6 месяцев назад

Corporate greed has nothing to do with it. Everybody does what is in their own best interest and that includes wall street, home buyers/sellers and real estate agents. All the other reasons for this that was mentioned is absolutely true, especially the government driven inflation.

@lasvegasliving9237 6 месяцев назад

Thanks for the comment/feedback. We can agree to disagree on the corporate greed angle. That is a big part of the problem IMO.

@SilveradoShootingAcademy 6 месяцев назад

Great analysis.

@lasvegasliving9237 6 месяцев назад

Thank you for the support!🙏👍

@Curlyblonde 6 месяцев назад

You don't talk about money laundering being the major cause of the dramatic increase in real estate prices. It's a major problem in all western economies and has made it impossible for law abiding citizens to ever hope to own their own homes.

@lasvegasliving9237 6 месяцев назад

That is not the cause to skyrocketing home prices during this real estate cycle. There are many people still willing and able to buy homes.

@scott-gy6fe 6 месяцев назад

I have no debt other than 310 tractor payment. House and cars all paid. Living in California desert 17,000 pays my bills and food stamps of 291 a month are needed if I am planning on eating. 2 years and 10 months social security will be available. I have 401k and can take out more but with no foreseeable income I am hanging on to 401k, gold and silver. Please don't feel bad, I have clean air, no traffic and a super low stress lifestyle. I wouldnt want a Lambo, private jet or corporate job.

@lasvegasliving9237 6 месяцев назад

Good for you. Be well.🙏

@Domane-mh8wg 6 месяцев назад

Sad but true. I live in California and make over 100k and can't afford a house.

@lasvegasliving9237 6 месяцев назад

California is a disaster and only getting worse.

@markszeto1564 6 месяцев назад

Hedge funds had been making millions on the residential housing and (as history will repeat) will lose millions in the months and years ahead. They move in herd mentality and when the selling starts look out below…. I will be shorting these Hedge Funds and make money on their pain; that is only fair RIGHT? LOL

@lasvegasliving9237 6 месяцев назад

Make all you can at the expense of the hedge funds, lol. Time will tell how it plays out.

@Stridermd 6 месяцев назад

2 things will make this spring and summer pretty big in terms of home demand. Our close proximity to California and the disgust people have for what is going on in California (crime, homelessness, over regulation, etc). There are people in Cali who are desperate to leave and are kicking themselves for not doing so sooner. They are going to push this LV real estate market into the stratosphere this year. Prices won't go down until late this year at best and that's after a huge run up during the next 6 months. Right now is the best time to buy unless you wait for a few years. And there is no guarantee things will be much better since the CA exodus should be continuing for the next 3yrs at least.

@fgjf1079 6 месяцев назад

What’s funny is that people in practically all states are saying the same thing- that Californians will keep coming 😅. They’re only so much that home values can go up, as local wages aren’t going up as fast, and eventually those salaries won’t support the outrageous home prices.

@Stridermd 6 месяцев назад

@@fgjf1079 they cashed out their homes in CA and live like kings and queens everywhere else in the country. I hope they have good paying jobs once they move because prices everywhere will be going up because of all that CA money moving in. The people who have lived in the same place for the past 7yrs or more are struggling with bills they've never seen so high. And they can't upgrade to a bigger home because they can't afford it with 7% rates. So the CA people scoop up the homes, rentals and that only drives values higher. Locals are screwed unless they can find another city with lower costs of living and home values that CA people don't want to move to. I hear Kentucky isn't too bad....lol.

@lasvegasliving9237 6 месяцев назад

We'll see how it plays out.

@lasvegasliving9237 6 месяцев назад

@@fgjf1079 Correct and if the economy hits a wall it will be a whole new ball game.

@lasvegasliving9237 6 месяцев назад

@@Stridermd California is a disaster but a wealthy state for people to easily buy and inflate home prices here in Las Vegas. This has been a big factor and very unfortunate to see how much Las Vegas has changed since the pandemic.

@appleiphone69 6 месяцев назад

How about surviving on 25k in a HCOL area in 1997. That is working 1 full time job and one part-time job. Lived like a monk, rationed my driving. Still put money away for retirement

@lasvegasliving9237 6 месяцев назад

Good for you! Delayed gratification is hard work. 👏

@josephfrank1472 6 месяцев назад

Are the banks not hording the repossed homes though?

@lasvegasliving9237 6 месяцев назад

No, they are not. This is not 2008 again.