I’m in Salt Lake City and I’m seeing home priced come down already. Nearly every home listed has a price reduction and home over $600k are sitting on the market much longer than last year. New home are selling for $150k off advertised prices.
How do you reconcile the discrepancy between general inflation vs. home builder specific items such imploding lumber prices during this inflation in calculating home prices? 2/22 lumber @ $1400 vs 8/22 @ $ 527?
That's a very good question. The Las Vegas Southern Nevada Water Authority is working on addressing the concerns. In difficult times innovation is born. We'll see what happens and God willing we'll see plentiful rain/ snow through the West and Southwest to snap the drought.
Indeed, that is very true. The 15%-25% figure is range for the national depreciation rate. Each real estate market will be affected differently. Some will go up, stay the same, and others will go down. Thank you for watching. Sending you positive vibes everything is going your way!
Your absolutely right Kal! We definitely don't want to see a 2008 level crash. That would mean many millions of people losing their jobs, losing their homes, and going into bankruptcy. The market needs to balance for sure and I believe it will for the reasons shared in this video and others. If you have any questions or thoughts for future videos, please let me know. Sending you positive vibes everything is going your way!
Hey I.A.O., great point. And yes, typically Zillow numbers are a bit off compared to what to reality. To their credit, they do self audit and publish where they believe their numbers are off. All the same, the bit in here about Zillow is a point of interest because they downgraded their report 4 consecutive months in a row. Going back to the predictions video I published earlier this year, I shared with everyone what seemed the most likely to happen in the market this year. The one area I was incorrect, are with mortgage rates. The FED stepped up the pace and the increments they said they were originally planning when I created the video, so it offset the data I used to create the video. Nonetheless, it does appear that remainder of the video is very much intact and progressing along the timeline I shared in that video. Time reveals all, so we'll see. My biggest concern is to ensure that accurate, honest information is available to people to assist them with their real estate decisions. Anyhow... Thanks for commenting. You're awesome! Sending you positive vibes everything goes your way!
@@AndrewFinney Thank you, Andrew, for a deep-dive into the Zillow issue. I'm not on the market currently. Maybe in 2 years. This November I'll break even my refinancing expenses I did 2 years ago in the aftermath of hurricane Laura and 6 wks later --> Delta. Survived w/o evacuating. I'm a Russian, hurricanes don't scare me, a snowfall may do it but not a category 4 hurricane 🙂 ha-ha-ha. Take home lesson: don't close on a house in the hurricane season: never know how and when will fall on y'all 🤔🤔 I wish you all the blessings in your work. Had I lived in LV, I'd come to you or a house deal. God bless!
People who are complaining that their income is low or they deserve higher salary, they should create more value in the market. Update yourself with high income skills to be able to create more value into the market place to be paid well. a fellow creator[][][]
Thanks for watching. Not everyone has that opportunity or skill set Yasin and it takes time to build new skill set if one pursues a new path. Sometimes it doesn't matter how amazing someone is at the chosen profession, if enough opportunities aren't present they might not make as much revenue. All the same, sending you positive vibes everything works out for your best interest.
How would that work for people that already own a home? Also, how many millions of jobs would be lost for the economy to get hit hard enough to cause that to happen?
