You will REGRET Buying A House in 2024 

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

In August 2022, I paid 685k with a 4.375 interest rate for my second property in San Diego. The property is currently worth $895k. I've already increased my ownership by over 30% in less than two years. There's no need for me to sell because I'm making over 90k in rental income from my two ADU studios, which pays my mortgage each month. In addition, my rate is ridiculously low, which I view as a benefit.

I bought a house 2023 and don't regret it but its because my wife and I took our time and really searched the market. We also didn't settle with any house and made sure it was within our financial means along with hitting our desired needs. And we were willing to back out after inspection when things weren't looking right. But to be honest I think we also got lucky, our home warranty ended up covering a replacement for a furnace and ac which helped a lot. And I should also stress that regardless I made sure that after closing costs I still had a decent amount in savings in-case something came up.

Thanks for the refresher and easing my mind that it’s okay to rent and continue to save. I have less then a year to move and was getting flustered about trying to find a house near where I work since houses in Utah are overpriced by a good 30-40%.

I bought a townhome in September of 2023. It's been a good decision thus far.

Good stuff guys stopped by a little late but still smashed the thumbs up 👍

Thanks for this video, I’m a 28 year old who has saved nearly everything since I graduated college and it’s sometimes tough to see everyone around you buying helps me understand how to plan.

Me on my way to go close on a deal in less than 2 hours 😳

We brought in 2023 and now our home is 200k more. Even so, we have had a plethora of phantom cost!

pressured to offer is the dumbest one, the agent is your employee, u tell them what to do not other way around

Closing on a duplex in San Diego in two weeks, first time home for my fiancé and I. - our reasons were that with a duplex it cuts out mortgage to about what renting a 2br is in San Diego, with the other half str or ltr. Somewhere to live in a city we love + cashflow as an investment. I couldn’t imagine just buying a SFH rn.

Your voice is so comforting. You could be a good counseling psychologist 😊

In a good or bad market, you should only buy the house that fits your needs and is affordable to where your entire monthly pay isn’t going to a house. So many people make that mistake.

You’re absolutely right you’re a good agent 😊

Great advice , plenty of people bought a home and settled and regret it even when rates were low.

Thank you so much 🎉

I just found your channel and I subscribed cuz you are so cute! I’m too old for you but thought it might make your day!😊❤🎉

I'm sorry Jeb, but this story of this woman getting her rent subsidized so she can live in Beverly Hills is absolutely nauseating. And to top it off, she's saving 7000 dollars a month! This is simply outrageous when you have people who can't make ends meet. This woman doesn't count except as an example of the inherent unffairness in progressive policies. I would love to live in Beverly Hills but I can't afford it and I don't qualify for rent subsidies. This story is sickening.

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

Yikes! Our tax dollars are subsidizing people in Beverly Hills who can save $100,000 a year... I have a family member with physical disabilities that will prevent his ability to drive and impact his reading (but not intelligence), yet he is struggling to get any aid as a young adult. This is a messed up system...

Great candid content. We bought at the height of the pandemic craziness and your advice about buying a home that fit our needs is so important. We had lost out on no less than a dozen offers and we began looking at houses that were too small or didn't have what we wanted simply because we didn't want to go above our price range, our realtor sat us down during a showing of a house that frankly was the absolute bare minimum of everything we wanted and she asked us, if we loved the house, and we said it was okay, (we were up against it we had 60 days to find a place to live because our rental was being sold, and we had been saving for years and were in a position to buy), our realtor said, if we didn't love it, don't buy it, better to rent an apartment or live with a relative for a few weeks or even months until we find the right house than be stuck with a house we quickly outgrow or aren't fully pleased with. Keep up the great work

have are question pls? is good or bad time to buy house now? im rent the house but fell like sooo expensive .every year the rent raise $100 up and im living this house 7 years. im ready to buy the house buy im looking at now all the houses is very very expensive.

What about property taxes and insurance? Costs do go up sometimes.

The issue with housing is that it's not a luxury; it's a fundamental human need. If you can't afford an iPhone, there are cheaper alternatives available. However, if you can't afford a home, you're left with renting or living with others, which delays important life milestones like starting a family. I've experienced this firsthand. I graduated last year as a civil engineer, earning about $80K with an 800 credit score and some savings. My fiancée earns around $50K as a waitress while pursuing her nursing degree. Over the past three years, monthly home payments in South Florida have more than doubled, alongside rising living costs. This makes it impossible for us to afford our own home, so I'm still living with my parents, saving up for a home that I hope to afford one day. I can't imagine the challenges faced by other young couples with lower incomes and children right now

I'm stuck on the husband being an attorney and the wife a professor. No way they qualify for subsidized housing, especially if they're able to save $7K per month. What am I missing?

I’m a first time home buyer and purchased a brand new dream home in LA last year, when everyone said I was crazy cuz the interest rates are so high, and were still going up when we were in escrow! Because I did everything right having watched so many RU-vid videos I have no regrets. Because the market was so bad I ended up being the only offer on the house, so I was able to get my move-in- ready under asking (compared to the year prior when the market was super competitive with multiple offers on new homes paying upwards of 50k+ over asking)! Paid the 15% to avoid the PMI, Bought down a point to reduce my interest rate, and made sure I still had 6 months salary savings which I needed to pay for furnishings and unexpected maintenance. I bought in the area I was renting so I knew the area, it’s close to family. I also budgeted so even if my mortgage is more than I would have rented, I still am saving every month. I’m looking forward to future reductions on the interest rates to refinance, but I don’t need it to survive, so when it does I will be saving so much more!

I’m 35 and I have about $250k liquid in savings which I plan to put towards becoming a homeowner but based on the current high prices on real estate, do you suggest I hold from buying or do stocks for now?

Jeb, do you mean the BH woman lives in a rent controlled apartment and not subsidized housing? Subsidized means she has to qualify based on income and if she did - she and her attorney hubby are engaging in serious housing fraud. I see to work in BH and lived in LA for many years. Also, if she is saving 100k per year she will need it for her kids tuition because all her savings will count against her kids financial aid (unlike owning a house - where equity is excluded from fin aid awards). If both her kids get into USC, that’s $800k tuition. $100k per year now. I think this is an important financial mistake most people overlook - how your assets fare in financial aid decisions vs. equity in your own home (which does not count most of the time).

Largely, the price of homes is not going to fluctuate much. Those waiting out for the prices of homes to go down, will not see it happen. The rates will drop, then the "hold outs" will flood the market and keep the prices up. This will not change for a very long time. The cost of a home is where it will stay I'm afraid. Buy now and refinance, if you can.

Who waives a house inspection?

I'm selling and moving out of state. Hate it here! The house I'm getting has over 8 acres!

Ive been waiting for a home for over 4 years but ive spoken to several real estate people and they all have told me to stay where im at im in a 4 bedroom apartment and its subsidizing housing and dont pay that much in rent but most of my kids have left got only three at home two adults one younger in school. My reason for buying is a more peaceful environment and for my child to have more space to atleast have a yard to play in and a place where we dont have to do inspections and having to recertify every year is a pain. We lost our last house in 2010 with my ex husband and i want to leave my kids a house so they dont have to worry in the future and have a home to call their own.Also here where i live most old homes cost just as much as a new home and new homes are offering an interest rate at 4.9 way lower than what it is plus a new home sometimes offer incentives but my thing is i worry if we can afford a house i dont want to purchase a home for later ending up losing it after losing a home in the past it's my main worry. I had a question is it a must to give 10 percent down on a new home? Arent there first time home buyers programs that my husband can qualify for and does he have to pay that money back ?

Housing market is just starting to crash. Buy late 2024 or wait until houses go on sale in 2025! Housing correction is finally here be happy!!!!!

I’m just going to keep renting a small apartment and stack savings. I figure prices will stay roughly sideways (or at least, not increasing faster than I save) with the ways things are. Its true you are “paying the owners mortgage” when you rent, but the “owners mortgage” is much much cheaper than what I would get if I bought today (the interest alone would dwarf if unless you have a massive down payment). Theres also a lot of competition among landlords right now with many rental complexes built where I am, so they can’t just easily raise prices to capture inflation profits.

They should also ask, if you had the chance to revert your decision, would you?

My niece was doing Uber and she wouldn’t get any tips from wealthy communities and got all her tips from middle or low class communities. Some I guess think they’ll go broke or straight out stingy.

You do not need to own a home DO NOT BUY A HOME NOW! We have been in a bubble it started in 2014 .

I feel like I have heard this bucket story before

Wait, what? This lady is in subsidized housing in … Beverly Hills? Amazing.

😮😮😮

I just bought 2 homes in the last 4 months

In 5 years, a lot of them home buyers who regret their purchase are going to look back and feel fortunate to have bought when they did. Even though their mortgages would have been less if they bought a few years ago. I certainly can’t speak for every market, but I’m confident that I can speak for the north east.

We bought our house Feb 2024. I dont see things changing anytime soon and we wanted to get in the game. Our rate is 6.25%. I LOVE my house. People forget that once you have money to buy you need to be selected by the seller. Thats also the hard part.

click bait probably lives in his mom's basemen

lol living in subsidized housing and saving 7K a month????

We bought an entry level home in norther CA in October 2023. Our home has increased by $90k over the last 7 months…

whats with this new rapid fire presentation,I preferred the the original presentation ,it was more personable.

Who is making that kind of dough

lol 93%%%%% where the helll do you pull these stats... out of the bum hole?

Hey am in the military so I have the Va loan and have about 15,000 saved up and about to get married and I was wondering if I should get a home first or start renting then getting a home

Not sure why you’re discouraging home buying. There are people out there that need to sell and this is hurting people with a very general and false narrative

Maybe people really are not as smart as I thought. Doesn't most of whats on these realestate channels just seem like common sense to me, and you, no? Caveat emptor, no one is going to look out for you, better than you. Research, research, research.

bro make up your mind

I don’t know any wealthy people who is a long-term renter.

I love how the story have changed. For last 3 years I've been preaching that you should not buy a house but you'll thought I was an idiot...😂 LoL. Zillow is starting to change their story also. PS when they all start preaching that you should not buy that's when you can go and buy it. 😂