No doubts , A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
Okay Richard,generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (Regina Louise Collaro) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance.She is quite popular for her services so you might have heard of her. She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy... So I’ll advise you do get a good Investment advisor for yourself.
Regina Louise Collaro is based in the United States and can work with anybody wherever they stay. If you would like more information about her, you can conduct a search online.
I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me
personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now, and mortgage price skyrocketing on a roll... do I wait for a crash, or go ahead and buy house anyways?
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions. Right now treasuries and HYSAs pay 4.5-5% risk free, do that.
Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.
I have been working with *SHARON LOUISE COUNT* whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained so much more since the second quarter
Thank you for this tip , I must say Sharon appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say it was quite impressive. I reached out to her, and I have booked a session with her.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $600k savings other than moving in to an RV with my two kids and wife.
Mark what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.
It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
There is also market manipulation going on from the agents. In my area (Dallas TX) there are listing agents who are saying they will not even present offers unless they are over list price and buying agents are in on the scam telling buyers they are in a bidding war when in faft there are no other offers
Agreed. Same in my area. Plus sellers real estate agents play game. Ideally they are not supposed to talk about highest offer but they smartly say “well, we already have very good offer (meaning 20k above asking) or they say irresistible (meaning 30k plus above) so next person has to offer more if they want to beat it.
I plan not to buy until i can pay cash. I was in the home buying mood but sellers got super greedy and now I'm disillusioned with it and realized i just need to save and be in no rush.
I was sitting on sideline too. Second last home I put an offer on- 60 families came to see home in two days. So many people sitting on sideline so price can’t go down. When inventory hits market, buyers jump in and doesn’t let price go down. 2 million people sitting on sideline.
The housing market story is totally location based. New york, certain parts of CA are totally different from small towns. I have been watching this channel for quite some time. And the guest's same prediction for over a year. Lots of people i know dont need to sell and refied already. I'm not sure how this is going to pan out, but skeptical that it's going to be the same as 08 as lots of people want.
Upstate Albany suburb area prices are stupid expensive. Look at Zillow sales price charts and from 2021 they skyrocket for no reason . I blame greedy Realator’s they are the problem as soon as they can offer a higher price to a homeowner to get a listing for themselves they will
In the middle 1980s my partner and I invested $200,000 in (2) 4/plex units. A major oil/gas play was taking place and rental units were in great demand. Two years later the oil/gas play shut down and rents went south $700/mo. down to $250/mo. Not only did the rents go south, but the quality of renters really hit the skids. We both decided we were "no longer interested in the cheese - we just wanted out of the trap". Our $200,000 turned into $70,000 and we both swore off of never being landlords again.
True Story: I'm sitting on cash, so applied for a rental in Socal. The landlord bought in 4-22, bid up a listing of 1m to 1.5m, then spent 200k remodeling. Then work relocation, and now is trying to rent out for 5k. He borrowd 900k and put 600k down at about 5%, from my estimates. Even at 5k he won't cover his mortgage principal and interest. Realtor confirms this, and says they aren't selling, because they might move back in a "couple of years". OUCH. Have fun losing money every month, if they sell now, they will lose about 100-200k in equity as prices have dropped.
U can sit on ur cash in south CAlifornia especially San Diego houses went up 30-37% going down is crash which I as investor don’t see in south cali maybe other places but that’s just my opinion well diversified long term investor since 2004
@@sarisah5647Bubble is scheduled to “ventilate” over time. Slo-mo depression incoming. Learn ICT Trading principles for free on his RUclips channel. He nailed ways to scalp off the money maker price manipulation patterns.
More like 7. When I bought my first home in 1993 as a single woman my home cost 2 times my salary. We are poised for a great reset of all these asset prices.
After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader 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?
I concur; I've been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.
I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?
Nick in 2020 - “don’t buy a house in 2020…It will crash next year.” Nick in 2021- “don’t buy a house in 2021…It will crash next year.” Nick in 2022 - “don’t buy a house in 2022…It will crash next year.” Nick in 2023 - “don’t buy a house in 2023…It will crash next year.” Nick in 2024 - you already guessed it 😂.
Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I began investing in stocks and Defi earlier this year and it is the best choice I've ever made. My portfolio is rounding up to almost a million and I have realized that when a stock makes it to the news, chances are you’re quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, maximize it.
@@Leighwilliams112 All you need is a good capital and the service of a professional broker, with those your investment will most certainly produce high yields.
I tried to buy a house for over a year. I put in offer after offer and lost most to all cash buyers. I became so disillusioned from it all I went ahead and leased a new apartment that’s $700 less per month then all of the house payments I would have had. Unfortunately many are in my same boat and I can’t speak for everyone, but I’ve now completely lost interest in being a home owner.
Pretend your rent is $700 more than it is and toss that cash in to T bills every month. In 2-3 years you will be in the driver's seat when the prices drop and will have a huge down payment.
Yup, same here. I offered 35k above asking and my offer was accepted. Luckily real estate agent was new to area and he listed home for very low. Listed for 490k, offered 525k and appraised 545k. I didn’t have to come up with cash.
Not really a road map, irates haven't gone up like this in a VERY LONG TIME!!! And QE is insane this time!!! And we have the biggest bubble in the history of our country this time!!!
In California riverside specifically rent for a 1 bedroom apartment in a decent area is costing me $2,400 a month. Mortgage bear Bakersfield is going to be $2,250 with insurance and property taxes $160 more for mortgage insurance (if I want it) And it’s a 3 bed 2 bath house close to all amenities like target, Walmart and hospitals. We work from home so this makes the most sense for us. Also homelessness is WAAAAY worse in downtown riverside than up there. It’s safer for our kids as well. For us it was a good investment will we have to live in it for 10+ years definitely but it was still worth it for us. Not all homes on the market or worth it…. Usually the ones in the city just blow my mind…
I live in the Nashville area and new homes prices have not dropped, land prices are sky high. I do not hear anyone talk about what this means to the Real Estate agents. They must be starting to face hard times? And as far as the builder offering lower rates, you are paying for that somewhere. Nothing is free.
Good point. With banks already struggling, I wonder if a few more going down (without federal takeover) would add more inventory to the housing market.
Depends on the asset. Bank owned properties are still sold one house at a time. However when banks get a large inventory of bank owned properties, institutional investors come along and buy in bulk, in that case they don't always hit the market.
This is the second comment I have left on this channel, I don't leave comments often. I've been subscribed to Nick's channel since he started Reventure. He is a talented data miner and analyst and breaks down his messages in a meaningful fashion where regular people can comprehend. His relentless effort to develop his app, conduct field surveys, and involve his followers is a testament to his work and passion.
@@mikea22875 right, and we have a large shortage of housing and unless unemployment skyrockets quickly, we're simply going to have a slow, but steady balanced market with prices in desirable areas continuing to increase slowly. If Feds decrease rates down the road, even a small amount, it will pull some of the pent-up demand out to buy. Even the slow AirBnBs are just shifting to longer-term rentals where there's plenty of demand because people are renting instead of buying.
@@marciamakoviecki3295 it takes time nothing changes direction in a few months and even the FED says 12-18 months for rate hikes to hit the market and the last hike may still be yet to come next week so how can you know if housing prices are going to do well or crash when the rate hikes are still an ongoing process? At the end of the day this is all just peoples personal decisions right? One thing I am watching is that we are now in Peak Season but soon we will be out of that season and have to see if prices can hold up over fall and winter, we have a long way to go until next spring.
He’s just evaluating data, which could be subjective. But the truth is Americans have a lot of debt and banks willing to loan them more than they actually can afford. We are in a housing bubble. When will it crash? When ppl can no longer afford their houses ( job loss, death or divorce or affordability).
And so? The all-cash investors will swoop in and buy everything up. I saw it happen in 2011-12. 2024-25 won't be any different. Market forces cannot fix what's wrong with single family housing in the US. Only government regulation of who can buy houses (hint: NOT investors) can do that. I won't hold my breath.
In my area, 75% of the listings are over 300k. I see the listings below 300K move, but when the homes are over 300k they take much longer. And if they are over 400k they must sit. Homes listed for 5 to 6 months.
Nick, when the dam breaks, it will no longer be a slow-motion train wreck. The downward draft will be quicker than you think. That's what will be different this time. Too much debt in the system. Love your presentation, as usual. Stick with Nick!
Very timely message Nick and Adam. Thank you. Interest rate just went up today in Canada. We are now at 5%. I am hoping some of these factors applies to the crazy Toronto market.
Same here in Victoria. Not betting on anything though, Canada is letting in a million new comers a year in the face of multiple crises - housing, health care. The country is run by complete idiots.
As a small landlord with good long term tenants in Los Angeles I’m happy but even if I wanted to sell and earn the short term tbill rates I’d encounter long term cap gains taxes (federal) and then state tax on top of that selling is not an option.
Exactly the situation I'm in on one prop... Looking at roughly a $650k gain if I were to sell. So pay the $150k tax hit (hopefully avoid the ~30k RE agent fees by finding an investor) and toss into T bills paying 5%. So sit back and laugh at the 20-30% crash in prices, but I've already given up the 25% in taxes, so I'm really at break even. Also, the question is what is the trajectory for T bill rates? Would I be able to toss it all into a 3 year at 5+%? The 5 year is paying 4%. The shift to treasuries starts to become obvious around 7%. My gut says we see a market meltdown and the rates start heading back down to sub 4% pretty quick Been looking at a 1031 Exchange and trading into something like 10 unit, but there isn't much inventory on the market up here, and the stuff available is at insane prices. Rather sit back and milk the smaller place that's paid off.
@@blauschuh I understand your situation and we could be in a much worse position. My properties are capping at about 4% so that works but I’m paying federal and state income tax. I hate paying CA tax. People keep wanting to live here and they pay very good rental rates so what to do?🤷♂️
6:45 You are wrong. People are definitely still buying. Just looking any real estate website in Spokane Washington or Southern California. The map is full of contingent offers and recent sales.
Due to the extremely low interest rates 99% of borrowers have, low inventory is the new normal. Prices will just range here until rates come down and then prices will pick back up. Supply vs demand. 2008 will never happen again, it was a once in a lifetime opportunity.
Ppl who make 200k and no debt who don’t want to spend more than 25% of their income on housing/taxes can’t even afford this market. Please explain how the avg family can afford a 450k house w 10k taxes
In Florida condos HOAs are doubling overnight. One example, $533 to $940. Another raised their fees from $300 to $600. I work at on such community. Those that have these properties as a second home are trying to get out. Those that have renters are waiting for the current lease agreement to expire, so they can sell. Those on a fixed income are having to sell and move in with their children, often in another state. This is happening to all condos in Florida because of new reserve requirements. There is no cap on how much HOAs can go up so there is going to be a flood of new available condos in Florida. Also, there is no cap on how much insurance can go up. Therefore premiums are also doubling overnight, as well. This will also create an increase in inventory as people's wages aren't keeping up. Another topic that I haven't heard anybody talk about but the quality of the new homes, at least in this area, is deplorable. Substandard materials and workmanship. Neighbors paid $800,000 and everyday say doors are falling off hinges, things are leaking, appliances not working etc. No wonder home builders profits are up. And if you live in a REIT owned apartment, you can't even get the most basic of maintenance done.
It’s not just Florida, I live in Minnesota and me and my husband spent the last 6 months trying to buy a house, and we were insistent on not getting a condo. The HOA’s have doubled here as well, and a few of our friends HOA costs have suddenly surpassed their mortgage forcing them to sell and go back to renting. To top it off the HOA price isn’t remotely justified, here it usually covers snow removal and trash, nothing else. And even with a slightly lower sale price than the houses, the monthly cost with HOA was easily $4-800 more than what we were seeing with a small single family home. And yes! New craftsmanship of apartments and houses is terrible, I can’t believe the prices on new builds, especially for typically shoddy craftsmanship and/or cheap building materials like the “fake wood” vinyl flooring you’re seeing everywhere now.
i figured as much on the new homes and quick flip renovations. they are all cutting corners, using the poorest quality materials and think buyers cant spot it a mile away. but they know there's always a sucker that will bite.
What's really disappointing is builder's obsession with constructing houses that are way too big on lots so small, you can't walk outside and swing a golf club without skull-fracturing your neighbor. They build these ugly, 3,000 sq. ft. sh*t-boxes, when all the average American family (3 people) needs a quality-constructed 1,200 sq. ft. 3/2 like they built up until the 70's. Nothing more fun than paying hundreds of dollars per month on utilities to heat and cool extra space you never wanted or needed in the first place. Greed-driven stupidity.
Takes 5 years for housing cycles to turn. This time may be even longer due to low interest fixed mortgages. The Fed wants the market NOT to crash because that will cause credit problems across the economy. They do want to slowly inflate away the excess debt so the idea is to let low level inflation eat away real values while nominal values and debt service stays stable. It’s a knife edge that assumes no black swan shocks.
@@lisro21 Yes, but once central bank interest rate policy recapitalizes all assets at a low interest rate there's no way back to financial reality without pain. The cost of avoiding that pain is a stagnating economy where incomes stagnate while asset prices bubble up, driving serous inequality that eventually leads to an economic/poltiical crisis. The idea that we can avoid economic corrections to human follies is disastrous in the long run.
I don't think that's possible for the fed to accomplish, and even if it was there's no way that's desirable. That's pretty much what Japan did and they had at least a lost decade, if not two.
@rathelmmc3194 well, it is possible as you just stated for Japan, though it requires threading the needle. It is desirable for the Fed rather than us, just as the Japanese political class has survived as the Japanese people lost three decades. Stagflation beats crashes for the monetary bureaucrats. We should prefer a correction.
Let’s not get carried away. Nearly all new A/C systems nowadays come with a 10-year warranty. A/C vendors don’t want to be shipping out new parts for free for 7 years.
Listing Agents on both sides jack up home price offers over actual selling price to pad their pockets, how can you really know what the final price is???
Nick has been selling the fear of a crash for three years and does it well…you should have someone on who’s an actual real estate investor like Keith weinhold.
I live in a community of mostly rental and second homes, many have put their house on the market. The ones that have not been updated aren’t selling but nice homes are selling for a good price right now Lots are not going anywhere. In Illinois
We just sold our house. It was our second home for Airbnb. We went through 3 price reductions in 3 months. We ended up taking about -32% off original asking. It was very tough.
Funny i was trying to buy a house. And i bid the asking price. While there where 6 more bidders fastly above me and above asking price. It probably depends on the region. I see a reverse housing crash upward. There are still A LOT OF PEOPLE on the sidelines waiting to snatch up a house.
How can you have pressure if your mortgage rate is 3% (and inflation is above that) and your payment is low? Most owners can rent it out to break even or even make a profit vs take a loss. They will wait until prices surpass all-time highs so they can sell for a profit. Your data is YOY and backwards as prices are climbing in the East Bay market here since Jan 2023. Wait until rates fall and prices will continue their climb as demand increases.
The guy has a lot of data, but I didn’t hear any contagion that will force a flood of listings in the second half of 2023. Remember, selling for most people is a last resort and can take years to play out.
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I think the main driver(s) that will draw home prices way down and inventory way up (deeper than the last bubble collapse) is what is likely a period of major unemployment. With the yield curve inverted the most since 1929/1973 (good indicator of major recessions) this next recession and the unemployment it will bring will motivate the 3% mort holders to sell while at the same time drying up potential buyers all in the environment of 9-10% interest rates. This should drive prices way down and return housing to it's historical trend which has been highly distorted/leveraged up over the last 20 years.
I've got multifamily props in the Boston area. 2021 into 2022 I was getting multiple calls per month and sometimes more than 1 call per week from large institutions wanting to buy property for cash. These call ended abruptly mid 2022 when the interest rates skyrocketed. I am still getting individuals calling about cash deals for properties, but they tend to really really low ball. The institutional buyer is gone and no longer pushing the prices up. Even with the silly high multifamily prices it can still make sense for a buyer priced out of the single family market to buy a multi and live in one of the units and rent out the others. This is exactly what I am seeing happen in my area. Not seeing rent prices drop yet in my area. I was/am well under market on rents and doing 5-6% increases per year. Raising rents 25% at a whack doesn't sit well with me. We're probably due for 10-15% rental rate decline over the next years or two. I'm hoping fora reasonable market decline so I can grab another property for cheap.
Sitting on a big down payment for a home. Willing to wait a few years and let that grow and grow to the point where I might be able to nearly buy something in cash. Would have bought years ago in a normal market. I do admit I fear that we just end up like Canada where everything feels like its priced eternally at SF bay area prices regardless of where it is.
Smart move. Don't forget to let that money make you money while you wait. T-bills, CD's, high yield savings accounts. All safe places to let your money sit while it generates additional revenue for you.
Where does the supply come from? All reventure said is that eventually a flood of supply will come bc the economy is bad. If the economy is bad, why would I sell my 3% mortgage house just to move and pay more in rent for another house than my previous mortgage payment? His whole argument boils down to “trust me bro, inventory is coming.”
I don't get why this nick gerli guy has such a big following and keeps being invited by people like adam. He's been wrong for almost two years calling for the collapse of the housing market and he's still taken seriously. I remember over a year ago he was calling for a 50% crash in the coming weeks, and obviously it never happened. He just tells us what we want to hear, that prices will finally come down so we can buy an affordable house, and so people keep thinking he's right because we all want him to be right. He's a hack.
Nick is right the data is all there and what he says will happen but one mistake he makes is putting a timeline on it. Real estate moves at a snail's pace and takes longer to play out than you think. Real estate crashes don't happen in months but over a period of years. The 2008 crash took five years to bottom out and then went sideways for about five more years. Many sellers rode it all the way down and then finally capitulated at the bottom either by selling finally or going into foreclosure.
Exactly. 4.6 year on average peak to trough. Last 3 corrections, 4, 7, and 6 years. In addition, in real terms prices are falling. Median home price rose 1.4%yoy nominally. In real terms that means prices fell. Patience is required. 2026 for the bottom.
This guy was in middle school when the crash happened and he likes most ppl don't understand why the crashed happened along with not knowing the signs. "Increase in inventory" , by how much? Will it be back to 2018 levels? No!
@@bauttiet.h.u.g.5900 Oh really? So why did the crash happen? Cause I’m willing to bet a hundo you also have it incorrect. Let me give you a clue. If your analysis doesn’t begin during the Carter Administration then you also have it wrong.
If you have a large family, there is value in home owning beyond the average rent paid. There are intangible quality of life variables that keep them, happily, home owners instead of renters. It’s more than a financial investment, it’s a home. Also, inflation is causing families to consolidate and there may be more than two or three income earners in one home. This keeps some families solidly off the sellers list.
I’m amazed that people still listen to Nick and take him seriously. He’s been talking about a housing crash for 4 years and the prices have gone the exact opposite direction. He preaches fear and inaction.
@@Wealthion if it was data only, there can be no disagreement. When data is presented with opinion, that brings the bias. Builders are building and selling cheaper to clear existing inventory and higher carrying costs. They do not sell at such poor margins because they are charitable. When that inventory clears, new builds market will reset higher, and inflation will carry on for years. Data to follow.
@Wealthion Cherry picked "data" presented with a clear and consistent one sided bias is useless. In june 2021 nick posted a video saying "I'm officially declaring the housing crash started now". He based that declaration on the identical flawed "data: analysis he is continuing to use now. Prices then went up another 20+%. How's that for data?
You are missing the point! People who are buying houses, are buying them to LIVE in. Air BB won’t solve that problem, bc I promise you there is no air bbs in suburbs. They are usually apartments or houses by shore points or highly populated, tourist attracting large cities. They attract different kind of clientele. You can say- there will be more opportunities to buy commercial/ second home real estate, but will it increase SINGLE FAMILY INVENTORY In quiet, good school districts, suburbs? I hope so, but I don’t really think so.
3:14 Builders costs are not 40 to 120% higher than Jan 2020, like home prices are. Inflation according to the government's official website is 18% to July '23. 15% cut is nothing!!! The problem with Nick is to keep an audience he has had to hawk 35% drops forever. His title of up to 35% is same tricks (BTW, 1% drop is in line with up to UP to 35%). He uses meaningless stats to justify. For example, basing many things on local median income, but purchases are made by OUTSIDERS with much higher income; ARMs with low teaser (2006 type) rates; locals double or triple up in houses/apartments for rent just to survive their low-paying job rather than move for better. Many have to rent spare rooms out in order to afford the property tax and insurance increases.
@@thealternativecontrarian9936does this also factor in current migration patterns? I’m in the Midwest and everyone from here is moving to Texas, Georgia, and Florida. It will be inter to see who is right.
how can you say "Nobody is buying" when his own graph shows 4.4 million homes were sold? That number is off the highs, when rates were below 3%, duh, but people are still buying. you have the charts in front of your faces and refuse to read them truthfully. 2007 was a subprime bubble that popped but there were still millions buying homes, lol. When rates got below 3% that got people that had a 2-5-year window on buying a house to speed up their purchase to lock in that low rate. There will be a natural slowdown in purchases after a rush buying window, AKA the toilet paper stampede. Why Adam, is it so hard for you to see these easy facts?
@@robc8468 Per S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, prices fell 27% from peak to trough during the Great Recession. Max unemployment rate was ~10%. This time around, the unemployment rate won't need to be that high considering how much more over-leveraged the entire economy is.
Question... Is the dramatically reduced sales volume due to the lack of buyer interest or lack of inventory. It is not likely due to both. If it were a lack of buyers there would be more inventory. It of course is lack of inventory which makes the lower sales numbers statistic irrelevant. Of course there are lower sales numbers when there is nothing to buy! Throughout history people have migrated to the new great place from the old great place. If you live in the new great place of 2023 and have been listening to Nick over the last year waiting for the crash you are now looking at lower inventor, higher prices and higher rates... Thanks Nick. If you live in one of the old great places, prices will come down but may not be a good value even then.
As much as I agree with these forecasts on Wealthion, the one thing that has proven true is that all the experts have been wrong about the economy, markets, and even housing. While exercising patience, I do wonder if the contrarian move is the soft landing scenario. And while I am seeing home price cuts on Zillow in markets that I track, they are coming down from ridiculous levels. Have a hard time seeing prices drop 35% in major urban markets, though certain pockets may see that happen.
Just a note, many institutional investors package the homes together in one entity and then finance that with a bond so it is unlikely that an entity that holds 1000+ units will sell 100 or 200 of that portfolio. However, in the event that they were aggregating another portfolio, it is not unreasonable to assume that they might drop some or prune the potential portfolio before it is assembled. Keep in mind, older Mom & Pop investors that have held SFH rentals for a long time most likely have little financing risk and might even own the assets free and clear in many instances....
That Nick guy has 0 clue what he's talking about. He's been screaming market crash since 2020, and has yet to admit he doesn't know how to interpret economic data. I think he has a few more years left in him before he calls it quits on a housing crash.
most of his predictions have been pretty spot on, he predicted the Austin downturn to the T, we have seen some houses with $150,000+ price cuts in just one year
@@Zesty_Von_K Most? No. He’s simply narrowed his narrative down to markets that have seen some declines. He’s still talking about a crash worst than 2008 nationally; which is nonsense.
Well....the housing market here in NYS (which is huge) is basically stupid people way overpaying to a point that dual income high income couples can barely live paycheck to paycheck for completely mediocre houses. No one would think this would continue this long.
2024 will be reverse house crash. The prices will go up in most area's. Because demand is there, no new houses get build because that is too expensive. And interest will probably stabilize. Salaries will go up, to battle inflation. So yeah. Most signals say: UP for 2024.
I would love to know where Nick is getting his data from and what is the fidelity of this data. I am actively shopping for a second home in South Florida (Miam-Ft Lauderdale-Pompano) metro and was not able to make a purchase, so far, how fast houses in desirable areas of this metro are being sold. So, I really do not know what Adam and Nick are talking about. Additionally, I have been following this channel for a while and NONE of the predictions discussed on this channel turned out to be true; actually, completely opposite occurred. I am afraid these guys have no idea what they are talking about.
On the other hand, wages don’t have to go up and rates don’t have to go down as long as those buying have the money. Yes it squeezes out the lower income folks, but in wealthy, popular areas, they create their own bubbles. The DC beltway area is a great example of the ultimate US bubble. All the federal military industrial complex money keeps that region employed and home values not as impacted during recessions. Nashville may be “overpriced” but it’s being touted as the “Las Vegas of the east.” Full of wedding party tourism, conferences, music of course…
I have been following Nick for 9 months. I like his passion, but the data suggests he's wrong in most markets. Phoenix and Vegas go lower. I'm in Naples. Listings are going lower and prices are stable.
They are buying down rates. It is temporary. They are manipulating the market. However, it think we will have a stagflation for a about 5-10 years. Prices won’t come down but they won’t get much higher either. We need incomes to come to a level where the current prices are affordable.
Does Nick ever talk about seasonality? There are predictable yearly declines at certain times of year of 5-10% simply due seasonality. Nick comes out before seasonal declines to “predict” price declines….
You lose your job, your 401(k), your health insurance, but you have a mortgage interest rate below 3%? You're not going ANYWHERE. Literally the only thing cheaper is a trailer or under a bridge. Unemployed? Without health care? Those home owners are STILL not selling.
Great video! I wonder if nearshoring will have an impact on increased wage growth in the USA as we derisk from China? That is something I've been keeping my eye on.
Real Estate is like a tree. If the tree is not continually pruned, it will not grow. If you ignore the tree indefinitely, pruning may no longer be the answer. You may be forced to turn it into a stump. A bit of sage advice, either own real estate free and clear or financed at 115%. If you have no debt it is possible to get through all bad times. If it is financed 115%, the bank does not want it back.
With changes in the economy leading to instability in the stock market, some individuals may face a decrease in their investments in an effort to benefit from the current market conditions, I am considering liquidating my $725k portfolio consisting of bonds and stocks. Someone else in the same situation? Please tell me in the comments!..
would suggest you thoroughly evaluate the companies you have invested in and their estimated future performance, as we may expect to see the market decline further. To minimize stress and improve efficiency, it might be wise to seek the assistance of an investment advisor to help restructure your portfolio and identify any underperforming investments to offset. This approach has been successful for me and has reduced my stress levels.
@@Reymason317 I have been exploring the possibility of utilizing advisors to help navigate the stock market during these uncertain times. However, I am still evaluating their potential effectiveness in providing the support I need.
@@carlorodriguez771 Christy Val D'souza is an esteemed coach known for her proficiency in her area of expertise. You probably might have come across her. I found her on a CNBC interview where she was featured and i reached out to her afterwards. She has since provided entry and exit points on the securities I focus on. You can carry out a quick internet research on her name for more info. I basically follow her market moves and haven’t regretted doing so...
@@Reymason317 I was considering changing my investment strategy and planning to sell certain positions. As my retirement is coming soon,I became increasingly stressed. After thoroughly researching Christy Val D'souza on internet, I concluded that I had made an informed decision. Thank you for this Pointer. She seems very proficient and flexible. I booked a call session with her too.
If you put down enough money; your mortgage would be equal to or less than rent. As a homeowner you get homestead exemption plus you get to write off interest on the loan. As an investor; you get to write off depreciation of up to 27.5% plus property tax; homeowners insurance; HOA Fees and all maintenance costs. In most cases; investors are able rent out their units for more than their mortgage thereby deriving passive income. In other words; it's ALWAYS better to be a homeowner.......
What?! He is constantly wrong and deletes his old videos that now look ridiculous and are completely wrong. This clown has been calling for a crash in prices for years now.
@@timursalikov5911 So you are one of those who thinks for him to be right, the market needs to go down 30% in one year. Never happened before. Ever. Just wait. BTW, where were you in 2006 to 2012? Watch and learn, youngster.
((LOL)) I'm glad I missed this episode. This guy has been claiming there's going to be a housing crash for 2 years now. I have cats older than this turd. He claimed if Powell goes to 35 rates than mortgage rates will hit 5% and the crash is on, lol. Adam, you keep bringing on these guys because you yourself have been calling for a housing crash for 18 months now. When in doubt, surround yourself with those that think just like you do. Whatever makes you happy Adam. Now, I'll tell you how this is going to go. Rates have to come down on the Powell pivot before massive inventory hits the market, when it does, there will be even more people wanting to buy because of the lower rates. There's more that want to buy into lower rates than those that want to sell with the lower rates, as you and others wrongly put it, (Locked into lower rates). What you will see with lower rates is a buying splurge and a selling splurge that's not as big as the buying splurge. housing prices will go up. Have a nice day.
Trying to understand why someone would sell their home that is currently appraised at say $600k for anything less? Seems like the problem is on whoever is appraising home values in this country right? The local counties and government?
I can’t miss or ignore this well planned , well informed and diversified topics on this channel. I love to listen from different people and opinions that educated me . Thank you Adam.
So many people are re-living 2008. I do not think this is 2008. Nobody is selling unless they are totally out of options. Unlike 08 most people have deep reserves and do not need to sell.
So you are one of those who thinks for him to be right, the market needs to go down 30% in one year. Never happened before. Ever. Just wait. BTW, where were you in 2006 to 2012? Watch and learn, youngster.
Where I live in Colorado Springs - average person “Omg the market is amazing!” Me - “oh? Really? So the homes in my neighbor that were built in 1995 have 3,500 mortgages? When 6 years ago they were 1,000? Oh? When real wages have plummeted?” ZIRP for 10-13 years caused an extreme psychological grand delusion. I agree with people who say “things won’t change” no problem! Good bye to middle class and welcome strong socialism.
Oh yeah! Me - “no you’re right! Real wages down, car payments all time highs, cost of food all time high, cost of house repairs off the chart, insurances on the rise!” This idea that nothing will change is truly pure insanity”
The interest rates definitely have some people sitting on the sidelines. If the fed drops the discount rate back to 3% in 2024 you might see another 15 or 20 percent in price growth followed by a blow off top year in 2026 or 2027 where it just isn't sustainable anymore with boomer downsizing coming online. The AirBnB market caters to those who want a place to house their dog instead of a day care which is a growing market. More households with one resident also supports demand. Declines on the margin more often happens in condo buildings where buyers have multiple options of the exact same thing.
Follow Nick at ruclips.net/user/reventureconsulting or download his housing app at reventure.app
Thank you for the great videos. You don’t have to say “the question is is,“ you just use “the question is”
@@wonderplanet343l😊one 😊😊😊
No doubts , A good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made
Okay Richard,generally, investing requires higher knowledge. For this reason, It's important to have a solid support structure (financial consultant) to guide you through especially in asset picking. I operate with (Regina Louise Collaro) an investment advisor who partners with a licensed wealth management firm. For the record, the experience has been the best for my finance.She is quite popular for her services so you might have heard of her.
She made me financially stable investing through her help, now I earn on a monthly basis through her passive income strategy... So I’ll advise you do get a good Investment advisor for yourself.
Regina Louise Collaro is based in the United States and can work with anybody wherever they stay. If you would like more information about her, you can conduct a search online.
I have had the intentions of starting investing. But I always thought it was late and I think I need to stop procrastinating. I will definitely 🔍 Regina Louise Collaro and see what she can advise .Thanks a lot . This was of so much help to me
personally, I'm blessed and realizing I'm not the only one working with Regina Louise Collaro. I will consider myself lucky. I've been able to feed and make a living through her advice and great work. For such a person as Regina, I owe her gratitude, support and endless prayers as it is not easy to gain access to such a competent and reliable adviser. Who isn't just wise but has all it takes to handle an investment and is good at what she does.
I am definitely not buying now until there is more inventory
I’m closing in on retirement, and I'd love to move from Minnesota to a warmer climate, but home prices are ridiculous now, and mortgage price skyrocketing on a roll... do I wait for a crash, or go ahead and buy house anyways?
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions. Right now treasuries and HYSAs pay 4.5-5% risk free, do that.
Agreed, instead of panic or following a hearsay, I simply adopted the service of an advisor early 2020 amid covid-outbreak, and so far, I've attained my most measurable financial milestone of $650k after subsequent investments.
I have been working with *SHARON LOUISE COUNT* whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained so much more since the second quarter
Thank you for this tip , I must say Sharon appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say it was quite impressive. I reached out to her, and I have booked a session with her.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $600k savings other than moving in to an RV with my two kids and wife.
Mark what can I do? I have been disabled since 2009 and I am 58 years old at the verge of retirement. My portfolio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making up to $250k in couple weeks during this crash and I'd like to know how.
It’s precisely at times like these that investors need to be on guard against the next certainty. You don’t have to act on every forecast, hence i will suggest you get yourself a financial-advisor that can provide you with entry and exit points on the shares/ETF you focus on.
I'll suggest you create a diversification strategy because building a good financial-portfolio has been more complex since covid. Recently my colleague advised me to hire an advisor, surprisingly I have accrued over $120K under the guidance of my coach during this crash. She figured out Defensive strategies to protect my portfolio and make profit from this roller coaster market.
that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
The advisor I use is Carol Pasol Lewis he’s verifiable , so you could just search him.
Thank you for this amazing tip. I just looked the name up, wrote her explaining my financial market goals and scheduled a call
I’m with Nick on this issue!!
Looking at LV, in three yrs, the homes have gained 40%…, if that’s not a bubble, I don’t know is!!
There is also market manipulation going on from the agents. In my area (Dallas TX) there are listing agents who are saying they will not even present offers unless they are over list price and buying agents are in on the scam telling buyers they are in a bidding war when in faft there are no other offers
They think they are slick.
How is this legal?
It's all a scam to scam you!😂
Agreed. Same in my area. Plus sellers real estate agents play game. Ideally they are not supposed to talk about highest offer but they smartly say “well, we already have very good offer (meaning 20k above asking) or they say irresistible (meaning 30k plus above) so next person has to offer more if they want to beat it.
Sounds like a "real estate professional".
This crash bro has made a killing for years now from telling people the crash is just around the corner.
I plan not to buy until i can pay cash. I was in the home buying mood but sellers got super greedy and now I'm disillusioned with it and realized i just need to save and be in no rush.
Amen brother… I’m in the same boat
Either buy cash or build new
Thats my game plan too, Im sitting it out and saving every penny to buy cash.
I was sitting on sideline too. Second last home I put an offer on- 60 families came to see home in two days. So many people sitting on sideline so price can’t go down. When inventory hits market, buyers jump in and doesn’t let price go down. 2 million people sitting on sideline.
Nobody is on the sidelines. Demand is dead, and won't come back even if inventory tripleded over night. Price declines will continue for years.
Wasn’t this guy saying this several years ago???? He just deletes his video’s as they are proven incorrect….
The housing market story is totally location based. New york, certain parts of CA are totally different from small towns. I have been watching this channel for quite some time. And the guest's same prediction for over a year. Lots of people i know dont need to sell and refied already. I'm not sure how this is going to pan out, but skeptical that it's going to be the same as 08 as lots of people want.
I agree. I can identify specific zip codes in SoCal where the markets are on fire and out of control. Idiot buyers spending their money.
@@JJS73 I sold mine in March 2022. No regret. Now renting a place but affordability is insane here in New York.
@@yangbomb2 did you sell a primary residence or a rental unit?
@@JJS73 primary
Upstate Albany suburb area prices are stupid expensive. Look at Zillow sales price charts and from 2021 they skyrocket for no reason . I blame greedy Realator’s they are the problem as soon as they can offer a higher price to a homeowner to get a listing for themselves they will
In the middle 1980s my partner and I invested $200,000 in (2) 4/plex units. A major oil/gas play was taking place and rental units were in great demand. Two years later the oil/gas play shut down and rents went south $700/mo. down to $250/mo. Not only did the rents go south, but the quality of renters really hit the skids. We both decided we were "no longer interested in the cheese - we just wanted out of the trap". Our $200,000 turned into $70,000 and we both swore off of never being landlords again.
And now those apartments rent for 2k a month :)
@@blauschuh eeheheheheehehh!
Yeah, dealing with low end renters would not be for me.
Ouch
Totally agree. No longer a landlord. Had 2 tenants trash my 2 luxury condos. Not worth the hassle and liability. Better off in T bills.
True Story: I'm sitting on cash, so applied for a rental in Socal. The landlord bought in 4-22, bid up a listing of 1m to 1.5m, then spent 200k remodeling. Then work relocation, and now is trying to rent out for 5k. He borrowd 900k and put 600k down at about 5%, from my estimates. Even at 5k he won't cover his mortgage principal and interest. Realtor confirms this, and says they aren't selling, because they might move back in a "couple of years". OUCH. Have fun losing money every month, if they sell now, they will lose about 100-200k in equity as prices have dropped.
A good example of how some people handle money in California like they are in a Vegas Casino....
It's all ending the next 2 years. Most folks will be wiped out and they don't even understand it.
U can sit on ur cash in south CAlifornia especially San Diego houses went up 30-37% going down is crash which I as investor don’t see in south cali maybe other places but that’s just my opinion well diversified long term investor since 2004
@@sarisah5647Bubble is scheduled to “ventilate” over time. Slo-mo depression incoming. Learn ICT Trading principles for free on his RUclips channel. He nailed ways to scalp off the money maker price manipulation patterns.
There low sales because there is no inventory. This guy is wrong.
House prices are about 5 times annual salary. You need two incomes now to buy a house. Prices are way too high.
In Prague, Czech Republic, EU it is SEVENTEEN... what's your point?
@@geminiXXX that it’s not healthy for anyone, you twit.
"now"
More like 7. When I bought my first home in 1993 as a single woman my home cost 2 times my salary. We are poised for a great reset of all these asset prices.
@@geminiXXX Your economy is different. Apples and oranges.
Recently somebody bought home for $1.35mil in our neighborhood and they are advertising on zillow to rent for $3500.🤯
After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader 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?
I concur; I've been in frequent communication with an investing advisor for more than 17 months. I definitely remember needing inspiration to keep my business running after a protracted divorce. I researched licensing consultants, sometimes known as portfolio coaches by some.
I require suggestions on how to restore my portfolio and create more effective strategies in light of the huge declines. Where can I locate this instructor?
Thank you so much! Found her webpage and left a message. Hopefully, she responds.
I hope you rented it and put it on airbnb.
Nick in 2020 - “don’t buy a house in 2020…It will crash next year.”
Nick in 2021- “don’t buy a house in 2021…It will crash next year.”
Nick in 2022 - “don’t buy a house in 2022…It will crash next year.”
Nick in 2023 - “don’t buy a house in 2023…It will crash next year.”
Nick in 2024 - you already guessed it 😂.
Let us know how it works out for you.
If you bought a house (personal residence) with a rate below 3% - you’re a friggin’ winner. No questions.
Yup, fear sells!!
@@joea8650 So does hype, FOMO and the prospect of easy riches.
Narratives are powerful, even if they are totally wrong!
Fundamental are even more powerful, even if you make blanket statements.
Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I began investing in stocks and Defi earlier this year and it is the best choice I've ever made. My portfolio is rounding up to almost a million and I have realized that when a stock makes it to the news, chances are you’re quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, maximize it.
What opportunities are there in the market and how do I profit from it?
@@Leighwilliams112 You can make a lot of money from the market regardless of whether it strengthens or crashes. The key is to be well positioned.
@@Randymanfred41 I will really like to know how this actually work
@@Leighwilliams112 All you need is a good capital and the service of a professional broker, with those your investment will most certainly produce high yields.
@@Randymanfred41 Do you have an idea of any good broker I can start with?
Absolutely AMAZING video!!! So happy to see Nick from Reventure Consulting!!!
I tried to buy a house for over a year. I put in offer after offer and lost most to all cash buyers. I became so disillusioned from it all I went ahead and leased a new apartment that’s $700 less per month then all of the house payments I would have had. Unfortunately many are in my same boat and I can’t speak for everyone, but I’ve now completely lost interest in being a home owner.
Pretend your rent is $700 more than it is and toss that cash in to T bills every month. In 2-3 years you will be in the driver's seat when the prices drop and will have a huge down payment.
Yup, same here. I offered 35k above asking and my offer was accepted. Luckily real estate agent was new to area and he listed home for very low. Listed for 490k, offered 525k and appraised 545k. I didn’t have to come up with cash.
@@blauschuh First class advice
@blauschuh what's the monthly return on T bills right now?
@@mrcmid9132 6 month - 1 Year are around between 5.2 and 5.4%,
Not really a road map, irates haven't gone up like this in a VERY LONG TIME!!! And QE is insane this time!!! And we have the biggest bubble in the history of our country this time!!!
The biggest mother load of bubbles in America history. When I first
looked at the history of American booms and bust, my mind was blown😱
I Rates. Interesting choice of abbreviation. That's how I feel about them... irate. Ha ha.
In California riverside specifically rent for a 1 bedroom apartment in a decent area is costing me $2,400 a month.
Mortgage bear Bakersfield is going to be $2,250 with insurance and property taxes $160 more for mortgage insurance (if I want it)
And it’s a 3 bed 2 bath house close to all amenities like target, Walmart and hospitals. We work from home so this makes the most sense for us. Also homelessness is WAAAAY worse in downtown riverside than up there. It’s safer for our kids as well. For us it was a good investment will we have to live in it for 10+ years definitely but it was still worth it for us. Not all homes on the market or worth it…. Usually the ones in the city just blow my mind…
Sevierville TN (sp) is a gateway to the Great Smoky National Park. It's a vacation hotspot.
I live in the Nashville area and new homes prices have not dropped, land prices are sky high. I do not hear anyone talk about what this means to the Real Estate agents. They must be starting to face hard times? And as far as the builder offering lower rates, you are paying for that somewhere. Nothing is free.
Foreclosures don't go on the market, they go to the banks, then later the banks will dump!
Good point. With banks already struggling, I wonder if a few more going down (without federal takeover) would add more inventory to the housing market.
That was definitely true post 2008. These days I think investors are snapping them up in bulk
Depends on the asset. Bank owned properties are still sold one house at a time. However when banks get a large inventory of bank owned properties, institutional investors come along and buy in bulk, in that case they don't always hit the market.
Rigged market 💯
@@CrashBr0 But at least they then don't have to compete with us in the regular market and leave us alone. So it still is beneficial.
This is the second comment I have left on this channel, I don't leave comments often. I've been subscribed to Nick's channel since he started Reventure. He is a talented data miner and analyst and breaks down his messages in a meaningful fashion where regular people can comprehend. His relentless effort to develop his app, conduct field surveys, and involve his followers is a testament to his work and passion.
He's never been correct in his predictions.
@@marciamakoviecki3295That’s the bottom line. I can only drink the kool-aid for so long. People aren’t going to give up these low mortgage rates.
@@mikea22875 right, and we have a large shortage of housing and unless unemployment skyrockets quickly, we're simply going to have a slow, but steady balanced market with prices in desirable areas continuing to increase slowly. If Feds decrease rates down the road, even a small amount, it will pull some of the pent-up demand out to buy. Even the slow AirBnBs are just shifting to longer-term rentals where there's plenty of demand because people are renting instead of buying.
@@marciamakoviecki3295 it takes time nothing changes direction in a few months and even the FED says 12-18 months for rate hikes to hit the market and the last hike may still be yet to come next week so how can you know if housing prices are going to do well or crash when the rate hikes are still an ongoing process? At the end of the day this is all just peoples personal decisions right? One thing I am watching is that we are now in Peak Season but soon we will be out of that season and have to see if prices can hold up over fall and winter, we have a long way to go until next spring.
He’s just evaluating data, which could be subjective. But the truth is Americans have a lot of debt and banks willing to loan them more than they actually can afford. We are in a housing bubble. When will it crash? When ppl can no longer afford their houses ( job loss, death or divorce or affordability).
And so? The all-cash investors will swoop in and buy everything up.
I saw it happen in 2011-12.
2024-25 won't be any different.
Market forces cannot fix what's wrong with single family housing in the US. Only government regulation of who can buy houses (hint: NOT investors) can do that.
I won't hold my breath.
Exactly. Kool aid or music to our ears when listening to him. Deep down, I want him to be right but it’s probably not the reality.
In my area, 75% of the listings are over 300k. I see the listings below 300K move, but when the homes are over 300k they take much longer. And if they are over 400k they must sit. Homes listed for 5 to 6 months.
Why would anyone in the USA give up a 30 yr mortgage at 3%? In Canada, you can only get a 5-year mortgage before you need to renew.
Nick, when the dam breaks, it will no longer be a slow-motion train wreck. The downward draft will be quicker than you think. That's what will be different this time. Too much debt in the system. Love your presentation, as usual. Stick with Nick!
Housing in Virginia still red hot. None of this is happening. Multiple bids for houses and they are not staying on the market long.
New home mortgage payments around the greater Austin market are $2800 to $5800.
Most do not know that booms end and busts follow.
Very timely message Nick and Adam. Thank you. Interest rate just went up today in Canada. We are now at 5%. I am hoping some of these factors applies to the crazy Toronto market.
Same here in Victoria. Not betting on anything though, Canada is letting in a million new comers a year in the face of multiple crises - housing, health care. The country is run by complete idiots.
As a small landlord with good long term tenants in Los Angeles I’m happy but even if I wanted to sell and earn the short term tbill rates I’d encounter long term cap gains taxes (federal) and then state tax on top of that selling is not an option.
Good point. There is so much profit taxes will gobble up a huge portion
Exactly the situation I'm in on one prop... Looking at roughly a $650k gain if I were to sell. So pay the $150k tax hit (hopefully avoid the ~30k RE agent fees by finding an investor) and toss into T bills paying 5%. So sit back and laugh at the 20-30% crash in prices, but I've already given up the 25% in taxes, so I'm really at break even. Also, the question is what is the trajectory for T bill rates? Would I be able to toss it all into a 3 year at 5+%? The 5 year is paying 4%. The shift to treasuries starts to become obvious around 7%. My gut says we see a market meltdown and the rates start heading back down to sub 4% pretty quick
Been looking at a 1031 Exchange and trading into something like 10 unit, but there isn't much inventory on the market up here, and the stuff available is at insane prices. Rather sit back and milk the smaller place that's paid off.
@@blauschuh I understand your situation and we could be in a much worse position. My properties are capping at about 4% so that works but I’m paying federal and state income tax. I hate paying CA tax. People keep wanting to live here and they pay very good rental rates so what to do?🤷♂️
You can 1031 into a REIT there are ways you need to contact a financial advisor
@@joycebarnett6035 thank you for your suggestion. I was aware of the 1031 options, but not about into a REIT.
6:45 You are wrong. People are definitely still buying. Just looking any real estate website in Spokane Washington or Southern California. The map is full of contingent offers and recent sales.
Yeah, it’s a real good idea to buy a house you a high interest rate, in an inflated market, during inflation.
@@cjdflkj I know! It drives me nuts to see these homes still selling. I can't figure it out who and why they are buying.
Due to the extremely low interest rates 99% of borrowers have, low inventory is the new normal. Prices will just range here until rates come down and then prices will pick back up. Supply vs demand.
2008 will never happen again, it was a once in a lifetime opportunity.
You sure about that 😂
I feel reasonably sure; no crystal ball at my house, however.
Ppl who make 200k and no debt who don’t want to spend more than 25% of their income on housing/taxes can’t even afford this market. Please explain how the avg family can afford a 450k house w 10k taxes
Their in debt to their eyeballs. I'm in finance I see it.
In Florida condos HOAs are doubling overnight. One example, $533 to $940. Another raised their fees from $300 to $600. I work at on such community. Those that have these properties as a second home are trying to get out. Those that have renters are waiting for the current lease agreement to expire, so they can sell. Those on a fixed income are having to sell and move in with their children, often in another state. This is happening to all condos in Florida because of new reserve requirements. There is no cap on how much HOAs can go up so there is going to be a flood of new available condos in Florida. Also, there is no cap on how much insurance can go up. Therefore premiums are also doubling overnight, as well. This will also create an increase in inventory as people's wages aren't keeping up. Another topic that I haven't heard anybody talk about but the quality of the new homes, at least in this area, is deplorable. Substandard materials and workmanship. Neighbors paid $800,000 and everyday say doors are falling off hinges, things are leaking, appliances not working etc. No wonder home builders profits are up. And if you live in a REIT owned apartment, you can't even get the most basic of maintenance done.
Spot on nearly a million for a substandard house
This post right here will eventually dominate discussion for a while. Weaponization of HOA's has been predicted since 2009.
It’s not just Florida, I live in Minnesota and me and my husband spent the last 6 months trying to buy a house, and we were insistent on not getting a condo. The HOA’s have doubled here as well, and a few of our friends HOA costs have suddenly surpassed their mortgage forcing them to sell and go back to renting. To top it off the HOA price isn’t remotely justified, here it usually covers snow removal and trash, nothing else. And even with a slightly lower sale price than the houses, the monthly cost with HOA was easily $4-800 more than what we were seeing with a small single family home.
And yes! New craftsmanship of apartments and houses is terrible, I can’t believe the prices on new builds, especially for typically shoddy craftsmanship and/or cheap building materials like the “fake wood” vinyl flooring you’re seeing everywhere now.
i figured as much on the new homes and quick flip renovations. they are all cutting corners, using the poorest quality materials and think buyers cant spot it a mile away. but they know there's always a sucker that will bite.
Facts! Lennar and Dr Horton build literal trash.
What's really disappointing is builder's obsession with constructing houses that are way too big on lots so small, you can't walk outside and swing a golf club without skull-fracturing your neighbor. They build these ugly, 3,000 sq. ft. sh*t-boxes, when all the average American family (3 people) needs a quality-constructed 1,200 sq. ft. 3/2 like they built up until the 70's. Nothing more fun than paying hundreds of dollars per month on utilities to heat and cool extra space you never wanted or needed in the first place. Greed-driven stupidity.
Takes 5 years for housing cycles to turn. This time may be even longer due to low interest fixed mortgages. The Fed wants the market NOT to crash because that will cause credit problems across the economy. They do want to slowly inflate away the excess debt so the idea is to let low level inflation eat away real values while nominal values and debt service stays stable. It’s a knife edge that assumes no black swan shocks.
Meaning not purchasing a house on debt at low rate was a bad idea.
@@lisro21 Yes, but once central bank interest rate policy recapitalizes all assets at a low interest rate there's no way back to financial reality without pain. The cost of avoiding that pain is a stagnating economy where incomes stagnate while asset prices bubble up, driving serous inequality that eventually leads to an economic/poltiical crisis. The idea that we can avoid economic corrections to human follies is disastrous in the long run.
I don't think that's possible for the fed to accomplish, and even if it was there's no way that's desirable. That's pretty much what Japan did and they had at least a lost decade, if not two.
@rathelmmc3194 well, it is possible as you just stated for Japan, though it requires threading the needle. It is desirable for the Fed rather than us, just as the Japanese political class has survived as the Japanese people lost three decades. Stagflation beats crashes for the monetary bureaucrats. We should prefer a correction.
HVAC on new homes is crap. Typically you will be replacing your system in 3-7 years with much more expensive unit.
Let’s not get carried away. Nearly all new A/C systems nowadays come with a 10-year warranty. A/C vendors don’t want to be shipping out new parts for free for 7 years.
Listing Agents on both sides jack up home price offers over actual selling price to pad their pockets, how can you really know what the final price is???
Shack down industry
Thank you Nick for sharing this information. Great interview !
Nick has been selling the fear of a crash for three years and does it well…you should have someone on who’s an actual real estate investor like Keith weinhold.
I live in a community of mostly rental and second homes, many have put their house on the market. The ones that have not been updated aren’t selling but nice homes are selling for a good price right now Lots are not going anywhere. In Illinois
We just sold our house. It was our second home for Airbnb. We went through 3 price reductions in 3 months. We ended up taking about -32% off original asking. It was very tough.
Did you remain in the black overall? Or a loss? Sorry btw. Hopefully, you still made a profit.
This isn't happening in desirable markets. We still have extremely low inventory in Phoenix, so we'd love to have some AirBnBs to come on the market.
BS. None of that happened. You've been spamming every crash bro channel this same stupid post. Get a life.
Funny i was trying to buy a house. And i bid the asking price. While there where 6 more bidders fastly above me and above asking price. It probably depends on the region. I see a reverse housing crash upward. There are still A LOT OF PEOPLE on the sidelines waiting to snatch up a house.
Pls tell me where immediately so I can invest! I’ve been waiting the past 20 months… Still waiting…
How is real-estate going to be effected by the 6 million new citizens added to the USA ? ? ?
6 million poor unqualifed buyers. LOL.
@@timclark3049 you obviously haven't seen the monthly checks they are handed.
This is the canary nobody wants to talk about
Citizens?
How can you have pressure if your mortgage rate is 3% (and inflation is above that) and your payment is low? Most owners can rent it out to break even or even make a profit vs take a loss. They will wait until prices surpass all-time highs so they can sell for a profit. Your data is YOY and backwards as prices are climbing in the East Bay market here since Jan 2023. Wait until rates fall and prices will continue their climb as demand increases.
The guy has a lot of data, but I didn’t hear any contagion that will force a flood of listings in the second half of 2023. Remember, selling for most people is a last resort and can take years to play out.
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I think the main driver(s) that will draw home prices way down and inventory way up (deeper than the last bubble collapse) is what is likely a period of major unemployment. With the yield curve inverted the most since 1929/1973 (good indicator of major recessions) this next recession and the unemployment it will bring will motivate the 3% mort holders to sell while at the same time drying up potential buyers all in the environment of 9-10% interest rates. This should drive prices way down and return housing to it's historical trend which has been highly distorted/leveraged up over the last 20 years.
I've got multifamily props in the Boston area. 2021 into 2022 I was getting multiple calls per month and sometimes more than 1 call per week from large institutions wanting to buy property for cash. These call ended abruptly mid 2022 when the interest rates skyrocketed. I am still getting individuals calling about cash deals for properties, but they tend to really really low ball. The institutional buyer is gone and no longer pushing the prices up. Even with the silly high multifamily prices it can still make sense for a buyer priced out of the single family market to buy a multi and live in one of the units and rent out the others. This is exactly what I am seeing happen in my area.
Not seeing rent prices drop yet in my area. I was/am well under market on rents and doing 5-6% increases per year. Raising rents 25% at a whack doesn't sit well with me. We're probably due for 10-15% rental rate decline over the next years or two.
I'm hoping fora reasonable market decline so I can grab another property for cheap.
Sitting on a big down payment for a home. Willing to wait a few years and let that grow and grow to the point where I might be able to nearly buy something in cash. Would have bought years ago in a normal market. I do admit I fear that we just end up like Canada where everything feels like its priced eternally at SF bay area prices regardless of where it is.
I'm doing the same.
@@UnknownUnknown-tu3be Hang in there bud, it can get kind of black pilling imagining the future sometimes haha. But I am trying to change my mindset.
Smart move. Don't forget to let that money make you money while you wait. T-bills, CD's, high yield savings accounts. All safe places to let your money sit while it generates additional revenue for you.
Clearly, institutional buyers have the housing market in the headlock.
Yes. The industry clearly needs to be made illegal.
Casino housing industry!
Where does the supply come from? All reventure said is that eventually a flood of supply will come bc the economy is bad. If the economy is bad, why would I sell my 3% mortgage house just to move and pay more in rent for another house than my previous mortgage payment? His whole argument boils down to “trust me bro, inventory is coming.”
I don't get why this nick gerli guy has such a big following and keeps being invited by people like adam. He's been wrong for almost two years calling for the collapse of the housing market and he's still taken seriously.
I remember over a year ago he was calling for a 50% crash in the coming weeks, and obviously it never happened.
He just tells us what we want to hear, that prices will finally come down so we can buy an affordable house, and so people keep thinking he's right because we all want him to be right. He's a hack.
Amen to that! Surprised Adam is such a believer of this doom and gloom youtuber!!
@@joea8650listen to Adam he’s a doomer also. He just hides it better. Look at this guests most are doomers. At best 25% of his guest are bullish.
Nick has never called for a 50% RE crash in a short amount of time. Strawman argument.
@@toinengwyn3935 oh yes he did, I remember it, and I and others called him out on it.
He's popular because the Doomed want a crash so that everyone else will feel as bad as they do.
WHAT HAPPENS to housing if there is a hyperinflation from dollars returning when the BRICS currency is instituted?
Nick is right the data is all there and what he says will happen but one mistake he makes is putting a timeline on it. Real estate moves at a snail's pace and takes longer to play out than you think. Real estate crashes don't happen in months but over a period of years. The 2008 crash took five years to bottom out and then went sideways for about five more years. Many sellers rode it all the way down and then finally capitulated at the bottom either by selling finally or going into foreclosure.
Prices rose so slow /s…, I expect a quick price reversal when it happens. Sellers will try to undercut other listings to get a quick sale.
Exactly. 4.6 year on average peak to trough. Last 3 corrections, 4, 7, and 6 years.
In addition, in real terms prices are falling. Median home price rose 1.4%yoy nominally. In real terms that means prices fell.
Patience is required. 2026 for the bottom.
This guy was in middle school when the crash happened and he likes most ppl don't understand why the crashed happened along with not knowing the signs. "Increase in inventory" , by how much? Will it be back to 2018 levels? No!
@@bauttiet.h.u.g.5900 Oh really? So why did the crash happen? Cause I’m willing to bet a hundo you also have it incorrect.
Let me give you a clue. If your analysis doesn’t begin during the Carter Administration then you also have it wrong.
2008 is different. It's not a carbon copy. The reasons by 2008 will not happen now. Maybe the prices will go up even in 2024
If you have a large family, there is value in home owning beyond the average rent paid. There are intangible quality of life variables that keep them, happily, home owners instead of renters. It’s more than a financial investment, it’s a home. Also, inflation is causing families to consolidate and there may be more than two or three income earners in one home. This keeps some families solidly off the sellers list.
I’m amazed that people still listen to Nick and take him seriously. He’s been talking about a housing crash for 4 years and the prices have gone the exact opposite direction. He preaches fear and inaction.
Please feel free to present data that counters Nick's detailed charts.
@@Wealthion if it was data only, there can be no disagreement. When data is presented with opinion, that brings the bias. Builders are building and selling cheaper to clear existing inventory and higher carrying costs. They do not sell at such poor margins because they are charitable. When that inventory clears, new builds market will reset higher, and inflation will carry on for years. Data to follow.
@Wealthion Cherry picked "data" presented with a clear and consistent one sided bias is useless. In june 2021 nick posted a video saying "I'm officially declaring the housing crash started now". He based that declaration on the identical flawed "data: analysis he is continuing to use now. Prices then went up another 20+%.
How's that for data?
You are missing the point! People who are buying houses, are buying them to LIVE in. Air BB won’t solve that problem, bc I promise you there is no air bbs in suburbs. They are usually apartments or houses by shore points or highly populated, tourist attracting large cities. They attract different kind of clientele. You can say- there will be more opportunities to buy commercial/ second home real estate, but will it increase SINGLE FAMILY INVENTORY In quiet, good school districts, suburbs? I hope so, but I don’t really think so.
Great interview. The way we are dealing with the reality of this economy is like the seven stages of grief.
3:14 Builders costs are not 40 to 120% higher than Jan 2020, like home prices are. Inflation according to the government's official website is 18% to July '23. 15% cut is nothing!!!
The problem with Nick is to keep an audience he has had to hawk 35% drops forever. His title of up to 35% is same tricks (BTW, 1% drop is in line with up to UP to 35%). He uses meaningless stats to justify. For example, basing many things on local median income, but purchases are made by OUTSIDERS with much higher income; ARMs with low teaser (2006 type) rates; locals double or triple up in houses/apartments for rent just to survive their low-paying job rather than move for better. Many have to rent spare rooms out in order to afford the property tax and insurance increases.
Another factor is household formation. Marriage rates are in terminal decline!
Great point
Yes, I came here to say "Great Point" also.
yes they are. Lots of Gen-X and Millennials out there are and always will be single, but it takes two incomes to buy a home. So what are they to do?
That's one reason why the rental market is staying stronger
@@thealternativecontrarian9936does this also factor in current migration patterns? I’m in the Midwest and everyone from here is moving to Texas, Georgia, and Florida. It will be inter to see who is right.
how can you say "Nobody is buying" when his own graph shows 4.4 million homes were sold? That number is off the highs, when rates were below 3%, duh, but people are still buying. you have the charts in front of your faces and refuse to read them truthfully. 2007 was a subprime bubble that popped but there were still millions buying homes, lol. When rates got below 3% that got people that had a 2-5-year window on buying a house to speed up their purchase to lock in that low rate. There will be a natural slowdown in purchases after a rush buying window, AKA the toilet paper stampede. Why Adam, is it so hard for you to see these easy facts?
Unfortunately I think this is just going to get worse. Sellers have, and always will have the power until unemployment hits double digits.
Believe that unemployment at just 5% would be enough to cause damage. Double digits would be catastrophic
Prisoner of the moment.. zoom out things never stay out of wack forever!
@@msims6054 You would need unemployment at depression levels of about 25% or more to see a 20 to 30% price drop in homes.
@@robc8468 Per S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, prices fell 27% from peak to trough during the Great Recession. Max unemployment rate was ~10%.
This time around, the unemployment rate won't need to be that high considering how much more over-leveraged the entire economy is.
Why would unemployment hit double digits?
Question... Is the dramatically reduced sales volume due to the lack of buyer interest or lack of inventory. It is not likely due to both. If it were a lack of buyers there would be more inventory. It of course is lack of inventory which makes the lower sales numbers statistic irrelevant. Of course there are lower sales numbers when there is nothing to buy! Throughout history people have migrated to the new great place from the old great place. If you live in the new great place of 2023 and have been listening to Nick over the last year waiting for the crash you are now looking at lower inventor, higher prices and higher rates... Thanks Nick. If you live in one of the old great places, prices will come down but may not be a good value even then.
As much as I agree with these forecasts on Wealthion, the one thing that has proven true is that all the experts have been wrong about the economy, markets, and even housing. While exercising patience, I do wonder if the contrarian move is the soft landing scenario. And while I am seeing home price cuts on Zillow in markets that I track, they are coming down from ridiculous levels. Have a hard time seeing prices drop 35% in major urban markets, though certain pockets may see that happen.
Just a note, many institutional investors package the homes together in one entity and then finance that with a bond so it is unlikely that an entity that holds 1000+ units will sell 100 or 200 of that portfolio. However, in the event that they were aggregating another portfolio, it is not unreasonable to assume that they might drop some or prune the potential portfolio before it is assembled. Keep in mind, older Mom & Pop investors that have held SFH rentals for a long time most likely have little financing risk and might even own the assets free and clear in many instances....
Love seeing Nick on your program. Thanks for the great discussion.
I've been listening to Nick for 3 years. He keeps saying the same thing and when it doesn't pan out he just moves the goal post to next year.
That Nick guy has 0 clue what he's talking about. He's been screaming market crash since 2020, and has yet to admit he doesn't know how to interpret economic data. I think he has a few more years left in him before he calls it quits on a housing crash.
most of his predictions have been pretty spot on, he predicted the Austin downturn to the T, we have seen some houses with $150,000+ price cuts in just one year
@@Zesty_Von_K Most? No. He’s simply narrowed his narrative down to markets that have seen some declines. He’s still talking about a crash worst than 2008 nationally; which is nonsense.
Well....the housing market here in NYS (which is huge) is basically stupid people way overpaying to a point that dual income high income couples can barely live paycheck to paycheck for completely mediocre houses. No one would think this would continue this long.
2024 will be reverse house crash. The prices will go up in most area's. Because demand is there, no new houses get build because that is too expensive. And interest will probably stabilize. Salaries will go up, to battle inflation. So yeah. Most signals say: UP for 2024.
I would love to know where Nick is getting his data from and what is the fidelity of this data. I am actively shopping for a second home in South Florida (Miam-Ft Lauderdale-Pompano) metro and was not able to make a purchase, so far, how fast houses in desirable areas of this metro are being sold. So, I really do not know what Adam and Nick are talking about. Additionally, I have been following this channel for a while and NONE of the predictions discussed on this channel turned out to be true; actually, completely opposite occurred. I am afraid these guys have no idea what they are talking about.
You're looking in a very desirable area. Doesn't that skew the perspective?
On the other hand, wages don’t have to go up and rates don’t have to go down as long as those buying have the money. Yes it squeezes out the lower income folks, but in wealthy, popular areas, they create their own bubbles. The DC beltway area is a great example of the ultimate US bubble. All the federal military industrial complex money keeps that region employed and home values not as impacted during recessions. Nashville may be “overpriced” but it’s being touted as the “Las Vegas of the east.” Full of wedding party tourism, conferences, music of course…
I have been following Nick for 9 months. I like his passion, but the data suggests he's wrong in most markets. Phoenix and Vegas go lower. I'm in Naples. Listings are going lower and prices are stable.
yeh but builders are offering 5.75% rates, they have money preallocated to them still.
They are buying down rates. It is temporary. They are manipulating the market. However, it think we will have a stagflation for a about 5-10 years. Prices won’t come down but they won’t get much higher either. We need incomes to come to a level where the current prices are affordable.
Excellent informative guest and great interviewer
Does Nick ever talk about seasonality? There are predictable yearly declines at certain times of year of 5-10% simply due seasonality. Nick comes out before seasonal declines to “predict” price declines….
You lose your job, your 401(k), your health insurance, but you have a mortgage interest rate below 3%? You're not going ANYWHERE. Literally the only thing cheaper is a trailer or under a bridge. Unemployed? Without health care? Those home owners are STILL not selling.
What? 35%? Tell me where? Houses at good locations are now sold more than listing price again.
Great video! I wonder if nearshoring will have an impact on increased wage growth in the USA as we derisk from China? That is something I've been keeping my eye on.
Real Estate is like a tree. If the tree is not continually pruned, it will not grow. If you ignore the tree indefinitely, pruning may no longer be the answer. You may be forced to turn it into a stump.
A bit of sage advice, either own real estate free and clear or financed at 115%. If you have no debt it is possible to get through all bad times. If it is financed 115%, the bank does not want it back.
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I sold half of my stocks and sold one of my properties to prepare for downswing.
How about the devaluation of the dollar and the instability of the banks.
If you sale how safe is your cash will be?
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If you put down enough money; your mortgage would be equal to or less than rent. As a homeowner you get homestead exemption plus you get to write off interest on the loan. As an investor; you get to write off depreciation of up to 27.5% plus property tax; homeowners insurance; HOA Fees and all maintenance costs. In most cases; investors are able rent out their units for more than their mortgage thereby deriving passive income. In other words; it's ALWAYS better to be a homeowner.......
This is an amazing interview!!
I been filling him for years!!!
He is spot in!
What?! He is constantly wrong and deletes his old videos that now look ridiculous and are completely wrong. This clown has been calling for a crash in prices for years now.
@timursalikov5911 exactly his only concern is RUclips followers.
@@timursalikov5911 So you are one of those who thinks for him to be right, the market needs to go down 30% in one year. Never happened before. Ever. Just wait. BTW, where were you in 2006 to 2012? Watch and learn, youngster.
Excellent guest. Nick certainly knows his business.
He's sees what he wants to see 🙈
((LOL)) I'm glad I missed this episode. This guy has been claiming there's going to be a housing crash for 2 years now. I have cats older than this turd. He claimed if Powell goes to 35 rates than mortgage rates will hit 5% and the crash is on, lol. Adam, you keep bringing on these guys because you yourself have been calling for a housing crash for 18 months now. When in doubt, surround yourself with those that think just like you do. Whatever makes you happy Adam. Now, I'll tell you how this is going to go. Rates have to come down on the Powell pivot before massive inventory hits the market, when it does, there will be even more people wanting to buy because of the lower rates. There's more that want to buy into lower rates than those that want to sell with the lower rates, as you and others wrongly put it, (Locked into lower rates). What you will see with lower rates is a buying splurge and a selling splurge that's not as big as the buying splurge. housing prices will go up. Have a nice day.
Trying to understand why someone would sell their home that is currently appraised at say $600k for anything less? Seems like the problem is on whoever is appraising home values in this country right? The local counties and government?
I can’t miss or ignore this well planned , well informed and diversified topics on this channel. I love to listen from different people and opinions that educated me . Thank you Adam.
But it is up to as to which opinions you accept, and that should accord with your own deliberations.
So many people are re-living 2008. I do not think this is 2008. Nobody is selling unless they are totally out of options. Unlike 08 most people have deep reserves and do not need to sell.
The Harry Dent of real estate 😂
So you are one of those who thinks for him to be right, the market needs to go down 30% in one year. Never happened before. Ever. Just wait. BTW, where were you in 2006 to 2012? Watch and learn, youngster.
Adam, great interview. Like you, I am temporarily renting and waiting for the single family realestate market to drop. BTW, saw that button snap 🤫
Where I live in Colorado Springs - average person “Omg the market is amazing!” Me - “oh? Really? So the homes in my neighbor that were built in 1995 have 3,500 mortgages? When 6 years ago they were 1,000? Oh? When real wages have plummeted?” ZIRP for 10-13 years caused an extreme psychological grand delusion. I agree with people who say “things won’t change” no problem! Good bye to middle class and welcome strong socialism.
Oh yeah! Me - “no you’re right! Real wages down, car payments all time highs, cost of food all time high, cost of house repairs off the chart, insurances on the rise!” This idea that nothing will change is truly pure insanity”
The interest rates definitely have some people sitting on the sidelines. If the fed drops the discount rate back to 3% in 2024 you might see another 15 or 20 percent in price growth followed by a blow off top year in 2026 or 2027 where it just isn't sustainable anymore with boomer downsizing coming online. The AirBnB market caters to those who want a place to house their dog instead of a day care which is a growing market. More households with one resident also supports demand. Declines on the margin more often happens in condo buildings where buyers have multiple options of the exact same thing.
Brilliant discussion!
Terrific interplay between Adam and Nick.
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank ❤
"Inevitably" is not a reason.
"Pull of gravity"? House prices are not actually affected by gravity.