I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Since most people are accustomed to bull markets, they often find it difficult to handle downturns. However, with the right knowledge and strategy, you can profit handsomely. Yes, depending on your plans for entry and exit.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Contemplate shifting your investments from real estate to other dependable options such as stocks, cryptocurrencies, or precious metals. Severe recessions present potential buying opportunities in the market, but it's essential to approach them cautiously due to the volatility that can provide short-term trading possibilities. While not offering financial advice, it could be prudent to consider investing, given that holding onto cash may not be ideal during this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
See a financial professional if you feel you need advice. I'm not saying you can't do it alone; financial advisors are far more knowledgeable and experienced in this field.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Amber Dawn Brummit is among the most accomplished portfolio managers in the industry, widely acknowledged for her outstanding work. I highly recommend taking a closer look at her impressive portfolio.
My CFA, Amber Dawn Brummit , is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Stop with the clickbait titles. I used to love the unbiased videos on whats really going on in the housing market. My $200,000 property holdings are down in earnings by 17%. This video leaves me some serious concern.
@@Jaymilnere You're right, I and a few Neighbors in Bel Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 40% in the last quarter.
@@Jaymilnere Well, I chose Alicia Estela Cabouli as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification.
@@hullbruce I just found her webpage and read through her educational background and qualifications, which were all very impressive. So I scheduled a call with her.
I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my portfolio for retirement. I'm seeking to invest $200K across markets but don't know where to start.
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
I just sold a property in Portland and I'm thinking to put the cash in stocks, The main focus for markets now is Nvidia, which has powered a large chunk of the S&P 500’s recent earnings. Nvidia’s stock, up more than 90% this year, rose 2.5% in New York on Monday, sending the Nasdaq 100 index to another record high.I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks?
I think the next big thing will be A.I. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
The American people are easily manipulated. Main stream media tells them to sell their house and move to FL,TX they were waiting for them there to steal all that equity. Its the Banks, they are the crooks. Fractional banking, guaranteed by the Fed (us) then when the bank has sucked everything dry they go belly up and we bail them out. STUPID STUPID STUPID
@@cgschow1971 They dont know man, they have no idea how even a little bit of wealth and security is created. Living way beyond their means. I have been in my home since 96. It took everything I had to get it and I have lived a meager life to keep it. But people dont want to make that sacrifice. New cars and boats, credit card debt and nice vacations Hard lessons to learn
The people that bought a house right after the pandemic are going to get caught holding the bag They’re going to upside down on their mortgage Now all your hearing about is massive layoffs! Things are about to get bad
These investors are going into the equity markets. It would be silly as a smart individual to hold your net worth in real estate that is decreasing in value when you could capitalize on historic stock market increases leading up to an election.
Tale of two worlds. Average homes in 'meh' areas... struggling. Homes with good schools/communities... none for sale. At least for NE Florida. I've been here my entire life.
@@HomesonLockeBut as someone who lost their business in Florida, and knows, its a matter of time if one neighborhood drops before the better ones follow suit. The market dynamics are larger than towns. It will be statewide.
The not so great ending for sellers is the great beginning for the buyers. It has been ending not so great for buyers for the last 3 years. It is time for the market to turn so the cycle can continue.
Let's not forget there are a lot of innocent people in this same boat. Those retired living on fixed income for example initially planned to live within their means but the globalists counterfeiting the currency caused all their expenses to increase and now many of these old people will be forced out of their homes. It's not just old people so we should retain our humanity for what's coming and consider those innocent in need.
What you do not understand is that these houses were thrown up with no care for quality. I am an inspector I see it every day. The price is coming down because most homes need 40% of the value of the house in repairs or to replace builder errors. Even new homes have about 60% of the entire house has defective work.
Depends on the builder. I am in Central Texas. I would NEVER go with DR Horton. The worst quality and the worst subcontractors. Went with a smaller custom builder and paid much less, and no quality concerns 4 years later. DR Horton is a joke. Cookie cutter houses that fall apart. Military service members love to buy them and then try to flip them after 3 years, but the value isn't there.
That's what happens when everyone wants to be a home builder, know several people who got into building houses during covid, zero experience, just saw the fomo, and had the cash. Houses still sitting unsold in Naples, lehigh acres and cape coral area. Build quality is horrific.
Most people know nothing about quality! Newer is better seems to be the motto! I believe the market is saturated because of the migrants and others taking over houses, and the owners wanting to sell off their rentals or other investment properties! The legal system and the policies of the Democrats have put a bull's eye on vacant houses and given advantages to house squatters! It is not wise to be invested in Real Estate at this time!!!
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
Real estate takes time to unload, so in the end, it can be a trap for many as it is easy to buy but takes a long time to sell once the market startts to go down. Basically like the stock market, but imagine if it took a week to sell shares. The few lucky ones make a profit and the rest would just crash and burn. Some of these homes have been on the market for 6+ months now and still nobody is buying.
They are ruining everything because they have no real education or class about the true dynamics of real estate. If you don’t have a license then you shouldn’t not be doing it
@@camillesydnor8738 I do find it interesting how so many people have bought into the idea of making a profit off of their homes as if it is a given/something is wrong if they aren't. The reality is that you need a home first and foremost. If you look at a place like Europe, most people buy a home and don't move as it's too costly to do so. They just stay there for 10, 20, 30 years. Making a profit isn't the goal, but of course, is nice if it happens. What we have now are investors playing stock market with housing prices and the more they get burned and leave for other investments, the quicker we all can maybe get out from under our landlords. Which is the real goal in life. Own your own place, be your own boss.
Investors fixed up run down homes (improved neighborhoods) and provide rental properties to those that want to rent. Don’t hate on them for doing that.
@@torsten6777 investors due less than the minimum and have their own contractors to pass inspection. They’re crooks who jack up rent making it harder to rent. Investors want one thing and it’s not getting people affordable housing.
I committed $600K into some real assets like infrastructure and also looked into certain types of fixed-income securities. The idea is to have a balanced portfolio while taking advantage of the current liquidity environment. What are better strategies to optimize my portfolio?
I suggest youdiversify into alternative investments that could benefit from the liquidity-driven market conditions. Or better contact an expert to help Tailor your portfolio
Opting for an inves-tment advisr is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022
@@hushbash2989 Oh yes, of course, the "three name" scammer..... Don't be fooled, folks, all these threads that start with "I have XXXXXX to invest but I don't know what to do" followed by someone replying with a three-name "person" are a scam to either take your money or build up search engine links to make them seem legitimate.
We have a lot of pre-foreclosures here in Florida that are not being listed as a distress sale. The powers that be will feign outrage, even though they are at fault and are lying about everything.
@@plektosgaming I really can't have sympathy for those who buy/build/rent in flood zones. Why would people do this and why would zoning laws permit flood vulnerable structure to be built in these areas? Florida could easily design and build structures that can withstand wind and flooding from a hurricane but choose not to because of expense but then these people complain on the backend that insurance is too high.
@@bubbajones4522 The thing is, It's all reclaimed swampland in most of the state and when a storm rolls through, it all floods. They aren't in a "flood zone" in a traditional sense so much as will flood if a hurricane rolls through or even nearby. Because of poor planning, nimby city planners, and a state that is cheap as it can be, a proper anti-storm system like you see in The Netherlands was never built. And can't be built in time at this point. The smart people are moving to the northern part of the state or to neighboring Georgia as everything south of Orlando isn't technically permanent/will be reclaimed eventually.
@@plektosgaming What? I own 5 acres about a mile from the Gulf and I'm 60' above sea level. If you look at FEMA flood maps it will show plenty of non flood zone land. These maps are well thought out by experts. If you know people who are moving north because they are afraid that Orlando is going to get swallowed up by the sea then they need professional help.
@@bubbajones4522 The issue isn't that it will be swallowed by the sea but that when the sea levels rise, you're done for when a hurricane hits. Yes, this may be 50 or 100 years from now, but the fact that the land won't be there a few generations from now does have an impact on the price. Just last year Tampa got pummelled. I have a friend and their home was pretty badly damaged when Ida rolled through. A 7 ft storm surge is a disaster in most of the state, especially in the south.
It's no longer just about the price of the house. Insurance & taxes in many parts of the country are getting to the point where they are more expensive than the monthly mortgage.
In my area, the insurance spiked from 2000 to 6000 recently and several companies left the market and won't write insurance at all. I was able to find a reasonably priced policy but it basically excludes damage from hurricanes and tornadoes now. I'm over a hundred miles from the ocean and the city's never had more than an an ef1 tornado. And even those are rare.
A lot of those houses have been on the market for months. They pulled them off for 30 days and just put them back on. I've been watching. These prices haven't come down enough, in my opinion. Here soon. The bottom of the real estate market will materialize again.
We’re on the space coast of FL and have a neighbor that listed their home for 1.8 M 9 months ago. Now they’re on their 3rd realtor and finally got realistic and lowered the price to just under 1 M. Sad part is they probably would have got more money last summer but was greedy when the market had rebounded and is now chasing a market going the wrong direction for sellers.
@@DIVISIONINCISION there are obviously many homes in Florida worth far more than 2 million. This particular home is unattractive and outdated and the seller was delusional to believe it was worth anywhere near that amount. If you have money, Florida is certainly still a very popular choice to live. Many in the middle class are leaving, especially if they bought a home in the last couple of years as they have been priced out with mortgage payments shooting up between insurance, HOA and property tax increases. Renters are much better off as rents have flattened out or fallen in most of the state.
@@reddune6185, we bought our home in 2018 in a similar situation. Seller listed it for 989k in the spring of 2017. By the time we purchased in the summer of 2018, they lowered the price to $719k and we purchased for a little less than that. They made the same mistake of listing it too high in a declining market. Of course it went back up in value but is slowly going down now.
The amount of homes and real estate for sale along A1A in Florida is astounding! Get ready!! Property owners are sick of the high cost of insurance and are bailing.
I design homes for a National Builder, and have for over 20 years. Ive never seen builders put as many specs into the ground as we are right now. This will end very badly.
A spec home is a speculative build. The builder has no buyer lined up but builds a home anyway using the company’s own money. And that money comes from short term construction loans.
It is the building boom I saw in the 90's. All of these massive, "luxury" HOA boxes went up, so everything crashed because nobody could practically AFFORD 4 and 6 bedroom homes with 4 car garages and $200 HOA dues. It's happening again-very true.
Data doesn't support that happening. Local stories are meaningless. You obviously didn't compair the demographics from 06 to 24 did you. Those of us putting them just take the time to read thw actual data. That's all it take to make the big money on specs. What killed builders wasn't the houses it was the land. Thwy divested the land departments and buy lots now. So they're covered.
Agreed, living my best life. Traveling, enjoying my kids, not gonna over pay and work myself to death for 30 years making the banks and home flippers rich
My area started to drop over last fall & this winter, but started going back up again in April. I don't know what to think, at this point. Still live in an area no one seems to want to live in.
@@FraaaaaankRizzo there are a lot of nice locations in PA and the cost to buy a house is reasonable. It is cold here but nice summers and beautiful views. A lot of PA houses are older brick houses with a lot of space and rooms. Crime is high but I think that's an issue everywhere. Also, PA is a Commonwealth state...... Anyways, I want to see everybody living in a house. We all deserve shelter. My father was a real estate agent in PA for over 30 years. I knew about the house crash before it happened. I tried to tell my dad he could make a lot of money if he sold his houses. He sold my house. The house he "gave" me. The house I lived in with my husband, four children and my cat for 15 years. My children and I are all apart now and struggle. I'm trying to figure out how to get clean water to drink today. I wish I was lying. I'm never going to give up. I want to see everybody in a house! We are all worthy of having a place to call home.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
My landlord put this house on the market last week (well, the official market... Because last month he tried to sell it to me for 15% less than what he's now got it listed publicly for, lol). Yesterday, Monday, he told me someone was coming to take a second look and that they'd be making an offer. Well, it's been 24+ hours and it's still listed as for sale. Not as under contract.
Still not the same. My house "doubled" in value in under 2 years. Any idiot that would buy my house at anywhere near that price, is an idiot, and deserves the foreclosure. Be smarter with your money people!
@@NA-en7kz Yes we all know they are still outrageously high but people who say that a 30% drop in price is "nothing" can't do percentages. In some places, a 30% drop is a full return to pre pandemic prices. Some people are expecting a 50% drop, but that can only happen in places where prices DOUBLED and there's a lot of places where prices did not double, they "only" went up 60% or so.
he is dead wrong. a house that has gone up100% in 3-4 years that then has a 20-30 per cent price cut is STILL 70+ PER CENT OVER PRICED...and adding in the doubling of the mortgage rate and you have houses that are 4x more than the monthly payment was 4-6 years ago!!
totally wrong. first, most places did not go up 100%. They went up average of 38%. Let's use your example though because even if up 100%, what you said is not how math works. Example: 100% increase on $100k is $200k. 30% decrease on $200k is $140k. That means the overall increase is cut from 100% to 40%. Now, using more realistic percentages, say $100k increases 40%. That's $140k. Now say that $140k goes down 20%. That becomes $112k. 40% gain slashed to 12% gain. In much of the country, this second scenario is very reasonably realistic. Moral of the story: 20%-30% drop absolutely matters because of how percentages of different values work.
I understand 💯% what he's saying. You guys heard what he said but not listening. I had my house built from the ground up 7yrs ago and the price has damn near tripled to have the exact same house built. Housing prices, Insurance rates, Interest rates have Doubled in the last 7yrs! Precision math isn't always needed to make a point.
@@brn2863 That 38% realtors like to point to uses some "interesting" math. Ironically enough, you can look on Zillow at houses sold pre-2020 in virtually any market and you will notice prices have actually went up 2-4x.
Stocks only fell 35% during the pandemic. They're not going to drop 50% because of a housing crash. If houses drop 20% that means most areas are up about 30% since the start of the pandemic
@@Kiddro22generally I agree with correction. However, we are looking at the auto loan segment having a pretty hefty blowback on defaults. Credit cards are starting to default at pre 2008 levels. Fast food joints are closing locations. The canary in the coal mine is singing. It’s gonna slap hard af
@@Keno313Wrong. They will be waiting a long time. Interest rates go down prices will go up again and the inventory will be even lower. If there was “crash”, it would have happened already.
@Keno313 ahh this answer.. not many waiting lol everyone had fomo and everyone I talk to says they're stuck in a 3-4% interest rate and the others are stuck in a 6% and think they'll be able to refinance when the correction hits. Lower interest rates and the ones who want to move will put up their homes who have lived there pre 2020 so lots of homes
Too many people and too much sprawl in Phoenix. You have subdivisions all the way out to the San Tan, overpriced small boxes for $400K w/ HOA. It's a rip off.
It’s so expensive to move with closing costs, commission, movers and then you get a property tax bump up in most places. Would love to move, but it’s not a good conversion
Realtors with their divide and conquer strategies such as "buyers agent"/"Sellers agent" when in fact the sellers agent EMPLOYS the buyers agent BOTH getting commissions
BIG TIME! I’ve seen some homes in some very prestigious communities. Value, let alone prices are overwhelming. But the interior wasn’t updated in no form. Still the same interior since it was built. No updates.
@@Kiddro22 You got that. Some just to rent are shag carpets, stoves w. burners exposed, and they want first and last and massive deposits, you pay water and when the HOA raises rates you pay that too, completely an owner and their insurance obligation, it's insane, rent or buying. The rat holes sometimes must have been built and still have lead pipes from the 40's and 50's and no landscaping or clean up, etc. same price as others.
In my neighborhood, I see crazy prices people are listing for. I saw a house listed that valued at $366k in 2019 and they listed it for $975k! It's a nice house and pretty big at 4200 sq/ft but Insane, no one will buy that what idiots!
I saw a 1975 house listed for 500k and the seller laughed when I said ur house is overpriced. 4 weeks later it’s still on market and she was asking how many ppl are coming for open houses on Facebook
Stop persuading real estate investments. It's part of the reason why home ownership is out of reach. Also, there is a bill that is going to get introduced that will make it illegal to purchase single family homes as investment properties. It includes condos and TH. So all these "real estate investors" buying out homes to rent them out. Your days are numbered.
We need to do a lot more against those people, because it's come out that, since their home buying scheme hit the news, they've since tried to also buy up hospitals & veterinary clinics, as well as convincing cities to sell them their sewage/ water systems. Every instance was the same as the houses, jack up prices, lower expenses & wait for everything to implode before declaring bankruptcy & using it as a tax write off or selling it off to some schmuck who takes the brunt of the disaster they deliberately created.
Stop with the socialist crap. Americans should be free to buy whatever they like. As for foreign investors OTOH, they should never be allowed to own American property.
Most of such people wanted all of the Red benefits while still planning on keeping their Blue mindset. Now that they've realized that they'll have to change their minds Red too, they're scurrying back to the blue hell holes they came from.
All trends will end; a rise (in the stock market, in a person's political or social influence, etc.) will be followed by a fall. It's a story as old as time
There are plenty of rentals opening up. Look around and then threaten them with a move if they don't LOWER your rent. Do not let yourself be extorted by vampire capitalists!
Our building got sold. Senior subsidized. No raise in income most get 1000.00 per month. Supposed to be 30 percent of your income. Well everyone got letters saying as of june 1st no longer low income housing. Old men and women, the disabled like myself are being pushed out. I am now going to have to live in my car. Those with 11:00 out cars are buying tents, trying to figure out on the bus line how they can live and stay safe. Oh it was several foreign investors. I called it, they all said no way. The disposables. My heart is breaking. Only the ones who can afford 2000.00 a month can stay maybe 10 percent so 20 people. God help us all.
Live in AZ.... no fucking way prices are "dropping like its hot"... shit is still OVERPRICED. Houses that are dropping are in the ghetto and STILL unaffordable . If this is a crash, we need a fucking apocalypse for the regular American to afford a home.
Open door just bought a condo I was following in Jacksonville, talked the seller down 35k from what it was listed at. Then 5 days later listed it for 30k more than they paid.
I read in news that open door was recently fined by FTC for false advertising to sellers and as part of settlement is required to pay $62mm to sellers refund sometime in august checks will be sent out according to article .
I'm not even interested in this market. I never needed 20% to buy a house. I did 5% down and my payment is 1,500. Now that payment is 3,500 with 5% down. Ill just stay in my house and see how this works out. When the person buying a median home has to make 100k a year, which is more than 85% of American people. Doesn't look good. 😮
$100K/year is not exactly hard. Work in Medical with a Master's or Doctoral level education, work in trades, or own a company. You're making it seem like $100K is wealth. It's not.
Except you are missing a key point which is it's not ONE person buying a median home. It's two people who are both working. Two people working in a household can easily have a 100k household income. Remember, feminism caused women to work which lowered wages for everyone since it doubled the work force. The new normal is 2 people working to get the same quality of life that a one person working household did 100 yrs ago
We're still waiting for the correction to hit our area. Meanwhile, my neighbor just sold for full price in 5 days at 18% more than I paid last year for a larger home with more bedrooms and bathrooms.
Dude while this may apply to the rest of the country, this is far from the case in California. Medium home prices are $700000. The worst crime infested cities are going for $ 600000
I’m in San Jose, California. A townhouse here in a decent part of San Jose are around a million freaking dollars! If you want to b3 in a very questionable area, you can get something for 700ish. You can’t get a house for less than 900k, and that would be a house that needs work and in a not so great neighborhood. It’s nuts here!
I have a relative that had a 2% mortgage on a house with 50% equity who panic sold.listening to this guy. Now two year later hes a renter spending over double what his mortgage was and burning through his savings. 🙄
He has been talking about a market crash since 2020. No admission that he was wrong and how he may have messed up people’s lives. Anyways - you-tubers are not experts.
My aunt passed and I inherited some of her portfolio and cash savings, I’m 28 with about 400k cash in savings and as usual everybody’s preaching invest, so what stocks are a good long term buy, only major purchase I intend to make is buying a home in 5years from my returns
Same, I just use RU-vid for research purposes, I run all my major investment through an investment adviser, the market is just too unstable to handle things on your own.
@@MelissaHobbs-qm8wi How do I reach out to a financial advisor? my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Desiree Ruth Hoffman is her name, browse about-her, you’d find details if you wish to reach out her. over half of the year 850k was way little of what I got it’s was a pretty awesome year for me
Texas not in Cali. Especially, San Diego is not showing any slow down. Inventory is 2400. Normal inventory of San Diego county should be between 8000 - 9000.
IDK... Worked as a contractor in San Diego and the Inland Empire 2006-2008. The housing prices are insane there. To afford a doublewide in East County one has to be making 6 figures. I could see a repeat of 2008.
@@DT-sb9sv A repeat of 2008 is 100% baked in. The only thing is that the government can see it coming too this time around and can/will print their way out of it, in fact they already have been printing their way out of it (at our expense). Inflation will eventually make the current prices make sense but it'll take a few years of pretty bad inflation for wages to get where they would need to be.
I see Nevada where I have my house is the only state with a grossly different story. If I sell my Vegas house, am I ahead of the curve? As inventory is still down overall. I am in a position to potential sell, not at max profit as I would need some modern updates, but not a complete overall I don’t think. I am moving from Vegas to another area where I am going to be renting (which I’m okay with as its great price). I have my current tenant moving out end of June. (Just a room) I have 2 potential people who have shown interest in renting for almost double my expenses to keep house. It’s tempting to sell or rent either way. Thanks for your insights and app to help my decisions.
@@ScottWarner86 I live in LA, am pushing 50 and have always seen Vegas as a pressure release valve for LA and little else (not to offend). I'm sure it's probably a little "different this time", as Las Vegas is now more of its own "thing", but probably not totally different yet. In my view, the one and only thing keeping Vegas up in the stratosphere (pun intended) is the utter lack of sellers in SoCal, San Diego and California in general. But mathematically, that HAS TO thaw out at some point and when it does, Vegas should drop sharply. Me personally, I would definitely sell now if you can, and price it 10% below what neighbors are asking because I watch Henderson every day and I am starting to see a touch of pricing weakness in certain zones.
@@ScottWarner86 sell it immediately.. a bird in the hand is worth 2 in the bush.. get it sold while you can . Vegas homes will definitely be going down..!!
I have been looking at homes in East Tennessee lately and am completely shocked at what $400k buys today and it’s not in a good way. The homes are very old, small and ridiculously priced. I would have a hard time purchasing one of these homes at less than 1/2 the asking prices.
After prices have gone up 45% since his first "crash" video, this more-on will have the audacity to take a victoriy lap if prices temporarily dip even 1% at some point in the future. Just watch.
We’re going to point out the 30% increase but ignore normalizing the data? 2017-2019 were very normal markets and the inventory was another 30-45% higher then than it is now
I agree the current prices are too high for new buyers. But one thing they can do to free homeowners who want to move is allow the buyer to assume the mortgage. This was done years ago. For example if you agreed to buy my house for 500k and I owed 300k to the bank you would give me 200k and assume the mortgage which happens to be at 3.625%.
Most conventional mortgage loans (i.e. non-VA, non-FHA loans) are not transferrable to another person unless they are a family member and the loan holder dies. The bank has a lien on the seller's house and will not allow the seller to transfer the house or the mortgage to a buyer without the seller paying off the 300k original mortgage balance first. The new buyer would then have to get another mortgage at a higher rate.
@@krisrap3828 I know. It is written in the mortgage. It cannot be transferred. Interesting that the bank can sell the mortgage at any time to whoever they choose.
Eastern PA is still pretty hot. Some areas have been slowing down, but it’s not having a big affect on the local economy. In fact, I’d say almost no change at all.
I do gig work part-time on the side for extra cash, mostly Instacart. Delivered a double order yesterday. Stop 1 - Delivery to a lot of cookie-cutter condos. Giant subdivision under construction right next door. Stop 2 - Delivery to "luxury apartment suites". Two massive additional buildings under construction. Both stops were striking, because it was just massive walls of Tyvek mere steps away from where I was dropping off...if I was an owner living in those areas I'd probably be getting nervous too.
Sad to say prices will not come down. The big firms goal is to make this a country of renters. Make it so no one can afford to buy and is forced to rent. The first step was to bid up the prices of residential homes. They had billions of dollars and payed cash and out bid the normal buyers. Recent WSJ article points out that there is massive amounts of rental homes and apartments being built all over the country.
Very soon "low inventory" will no longer be an excuse for high home prices. Quite literally - many parts of America are experiencing the biggest pile-up of homes for sale we've seen in a decade. Map at 1:59. What's the inventory growth rate in your metro/zip code? Find out on: www.reventure.app
Spring Hill, FL (Hernando County) there is a lot more inventory, and the market is slowing down depending on the development. Some developments are still getting crazy prices. In Tampa/Lutz (Hillsborough County) houses are still coming in over asking price between $20,000 and $120,000 depending on the house.
Where I'm at, there is no "low inventory". It's a damn lie. Yet prices seem to be fixed at this fictitious point even though inventory is piling up. If only the FOMO idiots and moronic California transplants would stop propping up this fake housing market bubble!
Hate to break it to you…but we’re over 5 million units short of covering the housing demand. There aren’t enough investors selling to cover that shortage. There will be no “crash”. We’ll need a BIG increase in unemployment, which by proxy means we need a TERRIBLE economy, in order to get a marked reduction in national price statistics.
I live in the Spring area. What you’re not making clear to everyone is that half of those homes for sale are new builds in master plan communities and the price cuts are from the home builder. This area within a 25 miles radius is booming in growth.
Not all inventory is posted to the MLS, many in hot markets are unlisted called Pocket Listing, been going on for 25 years in San Francisco, Los Angeles, and other major markets.
I was just in Fresno last July. It was trashed and there's a water shortage. The farmers told me that San Fran diverted water away from them and that much of your land is being developed in to subdivisions. Homeless all downtown by the Veteran Museum. I wouldn't go back. California used to be a nice place. Not now.
Thank you for the explanation. I was wanting to buy a house but can’t afford the current prices. I said to others I am going to have to wait until the foreclosures happen and maybe I can get a house. I am not in an area though that is a buyers market though. (Arkansas)
You can look at your neighborhood differently by asking how many neighbors are investors before buying in. I live in the middle of nowhere Wyoming and last year someone sold a lot for a decent price so this year everyone put their lot up for sale. If there are no buyers than nothing will move.
The answer might be to lower rates for individuals buying homes to 2%. Keep the rate up for corporate investor owners. Level the playing field for housing.
California is still very much a sellers market. Still barely any existing home inventory. Home comp prices very firm and going back up in most parts of the state. Outside of TX & FL, home prices remain “higher for longer”.🤷🏻♂️
This is true. I live in Southern California. I would love for less people to want to live here so prices can come down. But prices are insane and so is traffic. I don't know how it's so dang crowded and packed to the max if everyone supposedly left.
I am afraid this is just wishful thinking. Live in Denver, houses under 1 Million sell in a few days. I see no signs of things imploding or slowing down.
Can you do a video on the West Michigan market specifically Kent County 49302/49316? Every realtor I've spoken with is still saying prices are going up without any downturn in sight.
Dude of course realtors are going to say that. I’m in Kent county and we have one of the overvalued markets in the country in relation to incomes. Also an above average % of purchases by investors in the last 5 years. They will be some of the first to bail if a market turns down.
I have to make a contrary statement to your comment about investors, leaving the market. In my market of Los Angeles, it is predominantly investors, and they can’t get their hands on enough inventory and unless bond prices go down I honestly feel like investors are going to continue buying up all the property until there is none.
The market is get back to a normal state. Question is does the market go into full on panic selling??? 100% inventory rise and 20% drop in prices is just getting the market back towards normal.
It's not about panic. It's about being overleveraged and being forced to sell when prices drop, which accelerates the price drop. That's the basic anatomy of any crash.
@@mattstone8111 The panic is real. I live in a place that crashes every so often and people over leverage themselves. Complete financial break down then happens. Deep pocket people and companies don't panic, may have to sell but usually they can ride things out.
In Rome, GA…Every house on street behind me has been vacant for months and for sale. All have same floor plan similar to mine. 2011 I got my house for $50K….maybe 1100sq ft….1930’s but in excellent condition. House behind me that is for sale is now asking $240K …similar to my house but does have a out building. House up street…brick…NO A/C! Sold for $150K 5 yrs ago. Property tax went from $600 to $1600 in 3 yrs.
New Jersey is still out of control. South Jersey prices is now catching up to North Jersey prices. I find some of these prices ridiculous, house sold for 419k in 2016 and now listed for 899k. People are still buying, wtf.
Lotta NY north jersey transplants during and post Covid. Once everyone started working from home they moved to the “country” with cash offers after selling their million dollar condos and upgraded to an acre or more McMansions. My wife and I looked at moving back to our hometown and it was impossible to get a fair deal, so we’re a couple towns over and my mortgage is 3% I’m not going anywhere now.
It's in tn to. We bought a house 4 years ago for 437k it's almost a a million now. Just got it appraised. We a looking to sell and move to middle tn and away from Chattanooga
Spring, Texas, about 40 years ago, was a very upscale suburb of Houston. I went to high school in Spring back then. Over the past few decades, most of the whites have moved out. The schools are now terrible, crime is rampant, and housing prices have dropped off a cliff. Low prices in Spring do not have too much to do with the current market situation. They've been way under market for years.
