Pretty amazing how buyer demand keep declining. In the face of declining mortgage rates. Issue is prices. Sellers are going to realize that soon. Access data for your market on Reventure App: www.reventure.app
Agreed. Home prices must come way down for middle America to afford even starter homes here in New Jersey that said all the homes here are being purchased by New York City transients. NJ huge bargain compared to NYC.
No, buyers are not coming back, because the unemployment and fear of losing jobs are increasing. It doesn't matter how low the monthly mortgage gets if people fear losing their jobs. Pay attention to jobs.
I can agree with some what you said. After the rate cut, I believe sellers being greedy will first raise their prices, then after there are no buyers they will try to sell at original asking price. They will have it marked down to make it appear like the buyer is getting a deal. When in fact they are not getting a good deal.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
@@conniebabcock2839 As much as I wish this were true, whoever is elected will oversee the worse depression in history. Trump would be the absolute best person to see us through it.
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...
@@johnawara9719 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
In our neck of the woods, Sellers who bought in 21 are asking 200% of the price they paid…so more or less double what they paid, often times with no improvements whatsoever and of course absurdly high interest. It’ll sit on the market for six months and they’ll drop it $10,000. It’s offensive we’ll keep waiting.
Similar situation here in CO. My mom’s neighbor bought in 2015 (or thereabouts) for $500k. Now they’re looking to sell and are listing the house for $1.1 million. Notably, their realtor recommended that they sell at $750k (the house has not been renovated since they bought it and has pretty dated cabinets, floors, etc.). They insisted that the he realtor put it on the market for the $1.1 million and said they they “are in no rush” to sell and will wait for a buyer to purchase at or around their asking price. What’s interesting to me is that the realtor sees the writing on the wall, but sellers are still thinking it’s 2022.
Now you add in the number of Realtors not getting deals??? that is 200K+ here in Florida. How many of them are sitting on mortgages that they can no longer pay? Now, you do that for processors and title companies..... they are all waiting praying for a miracle that is not going to come. As soon as the Fed rate cut does not save the market, that is when you will see the layoffs really start.
I think most of the business has shifted to new construction. Builders are buying down interest rates and paying nearly all closing costs. Resale market can’t compete.
My wife and i are sitting on about 40k for our first home. We want nothing to do with this market. We are paying 1100 a month rent just stashing cash. Between prices, insurance, home upkeep, taxes and stupid high hoa fees. We are really in no rush. It doesnt even seem worth it to us. If sellers want 450k for a 2 bedroom 1 bath home built in 1948 they can keep the house
We are sitting on $80k with no rush. We rent a small 600sf house with a great view for $2,800; a typical mortgage would be $5k-$5,500. Southern California.
People were delusional in the last recession of 2008 before they finally listed their prices at reasonable prices. We are still in the delusional period in a lot of areas. The longer they wait, the more they will lose in the long run.
Most buyers are idiots and see interest rates as the driving factor. They are not buying because they know the Fed is dropping rates, so they are waiting.
All my clients are sitting and waiting. These prices must come down. There is a limit to how much the consumer can be pressured. Even lower rates will not help, really.
Banks are selling mortgages. People always say it's a good option to buy at discount, but with the market turmoil and everything at stake in present economy, I'm thinking of buying stable coin to hedge against inflation, or is it all right saving over 350k ?
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
Agreed, financial advisors play a key role in portfolio allocation and i've been using one since late 2019 just before rona outbreak. So far, I'm barely 25% short of $1m ballpark goal after subsequent investments.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions
Monica Mary Strigle is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Nick Gerli, one of the greatest champions of consumer awareness of REALITY of the housing market. Thanks for being one of the good guys. Nick saves America from making huge financial mistakes. Blessings
People who listened to him two years ago and didn't FOMO into overheated Texas and Florida markets are probably very happy they did (and took the slings and arrows).
@CMBBmc-jd6ur Not hoping for it, they are in financial ruin as it is. Don't feel badly at all for these people, they are the ones who drove up the prices to begin with, out bidding each other to insane prices without understanding basic math and economics. They are the reason we have an affordability problem. So, yea, I actually am hoping for these imbeciles to learn their much-needed lesson. It is the only way for ordinary Americans to afford to buy at normal levels. A much needed 30-50% correction is necessary and justifiable.
@@sues3218I’m sorry but you will never own a home. I said the same thing in 2016 and finally got common sense and bought in 2020. And I’m glad I did because I would be screwed today if I didn’t.
mortgage applications might be the wrong variable to look at since blackrock buys in cash then rents out to illegals who are using free housing vouchers... so the houses are still getting sold (high demand) but it's not showing up in your data because you can't track the illegals... you can' track what they are doing in the housing market because they don't want you to be able to see what they are doing, it's all very hush hush so Americans don't find out until it's too late... just imagine what a free $150k loan would do to the midwest where the average house is under $150k in some places, the entire midwest and rural real estate would sell to illegals using YOUR MONEY in about 5 minutes and they never have to pay the loan back if they never sell... FREE HOUSES FOR PEOPLE FROM OTHER COUNTRIES while Americans suffer and die
We need to have homes at $1,500 again. That is comfortable for folks. Even his $2,100 is high. Until homes are under $2,000 again, nobody can buy, you're right.
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Amy Desiree Irish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Our congress has no idea how we Americans are feeling, we individuals are fed up with this treasonous administration. I feel pity for our country. A lot of people are suffering to survive! I appreciate Ornstein Lindsey! Imagine investing $2000 and receiving $10,500 in few days of trading.
I'm surprised you also trade with Ornstein Lindsey, she's the best at what she he does. At first i was afraid too before i gave it a try and realized fear kills dream more than failure.
Im building a house right now and acting as my own GC. I am going to spend about 50-60% of what a comparable house is selling for right now. The builders are making insane profits on these houses. Material costs are not much higher than they were pre-pandemic. Now that I’ve seen behind the curtains, I can say the builders have a lot of room to drop prices before they start losing money.
I've done that before.... much older now and just don't have the time. Living overseas now just a slower lifestyle. 2K a month takes care of everything. Healthcare is better as we pay cash (go to the front of the line) with my healthcare insurance paying 100% because it's a fraction of what they would have paid in the US for the same care. We have $1000's left over ea. month we just give to our kids. Better quality food that cost less...........
Not sure how many subs you are using but you are 100% paying WAY more than some giant INC builder.. they get a big discount when they are building 450 homes. What you're doing is still a good idea just making the point that you will pay more per sub and still do the job for way less.
@@jonathantaylor6926Im also not building a “builder grade” cheap ass house thrown together as fast as possible. I have $15K garage doors, 11 foot ceilings, marble countertops, wood floors, 6 car garage…Im going to be close to $150/square foot when im done. I had 3 custom home builders all quote me over $275/ft to build this house. That means they would have over $100/ft profit margin on it. 🤡
Home prices are still overpriced. They need to drop another 30%-40% before buyers like myself return to the market. I feel sorry for those who bought during the buying frenzy after the pandemic. The prices they bought at were at the peak, and now they are stuck. Even if interest rates go down, buyers are still hesitant to buy while the prices are still overvalued.
Here on the Treasure Coast in Florida the listings are a good $150K or more over 2019 levels. We need a 50% or higher correction to get back to pre pandemic levels. People that bought in 2021 0r 2022 that are trying to sell now are tacking on $100K. A lot have lowered their prices by $50K or more and are still sitting. DUH-the prices are still too high!
The two income world is here to stay. Ever since women entered the workforce en masse (late 70s), single people have had to compete with the two income power couples to buy just about everything (not just houses).
Tell me about it. 2 income households have destroyed the market. Makes it extremely difficult for single income households like me to survive @@CaptainCaveman1170
illegals have a lot of money... mortgage applications might be the wrong variable to look at since blackrock buys in cash then rents out to illegals who are using free housing vouchers... so the houses are still getting sold (high demand) but it's not showing up in your data because you can't track the illegals... you can' track what they are doing in the housing market because they don't want you to be able to see what they are doing, it's all very hush hush so Americans don't find out until it's too late... just imagine what a free $150k loan would do to the midwest where the average house is under $150k in some places, the entire midwest and rural real estate would sell to illegals using YOUR MONEY in about 5 minutes and they never have to pay the loan back if they never sell... FREE HOUSES FOR PEOPLE FROM OTHER COUNTRIES while Americans suffer and die
The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC, ETH...)
I began investing in stocks and Def earlier this year, and it is the best choice l'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, and maximize it.
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with "Jessica Lee Horst" for years and highly recommend her. Look her up to see if she meets your criteria.
My realtor is confused as to why I’m not buying even though interest rates are coming down. She actually said to me “Prices are not coming down” like she has a crystal ball! I told her “I lost two homes in 2011 - and my realtor back then said the same thing to me in 2008.” I’m waiting. It’s coming.
Zestimates dropping everwhere. Every house I click on has a Zestimate lower by 15-35k than the list price. It's crazy! Wasn't like this a couple years back.
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
Contemplating the idea of consulting advisors for guidance has been occupying my thoughts lately. I'm at a point where seeking counsel could be beneficial, but I'm uncertain about the tangible advantages their services could provide.
I appreciate this advice. Desiree seems to possess a wealth of knowledge. Upon reviewing her online profile, I meticulously examined her resume, which left a strong impression. I have initiated contact with her and scheduled a session.
500k for the average house in way too much, even if the interest drops to 3%, the new home owner will be paying over 15k in just interest, plus property taxes and insurance, you could be paying 2k a month just in fees, plus an HOA. That's with no principal paid. California and New York priced everyone out, with greed
Sellers who sit on the market slow playing price cuts are playing Russian roulette. Sellers are praying for help from the Fed Cut -BUT- Market has already priced said cut into TODAYS rate. Buyers still aren't biting AND-if the Fed is truly cutting because they see major recessionary pressure ahead-pile on even more inventory to the growing list (and add to that a motivated seller who can't afford wait around). Great Video, Nick.
they dont have a choice they are already underwater with all the helocs and second mortgages that are not reported but the majority of homeowners i know recently tapped their equity to carry their cost and have fun while they wait.
I know a person that bought 3 properties in the central Florida region during the boom era of 2020-2021. The problem was they were all new construction and the closings were done on August 2022 when interest rates went up to 7%. Now these 3 properties are on the market for sale but the owner only decreases $5k a month. For each property they want $150K of profits for the 2 years they were holding them but only decreases small amounts. There is blood in the water people.
@KAZHE63 this is true. Stock drop after each negative publicity on the market, but the big three buy right back in raising the market back up. If rates drop, we're screwed.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k. I've made a fortune so far, and I'm now buying real estates, gold and silver as advised by my FA.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
“Jessica Lee Horst” is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
curiously inputted Jessica on the web, spotted her consulting page and was able to schedule a call session, no sweat. Ive seen commentaries about advisors but not one looks this phenomenal
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless Sonia bless America.
I live in NM . The suburb that my wife and I are looking to buy in is crazy. So many houses bought in 2019 2020 are trying to sell now but at 2x+ they bought at then with no improvements. We are waiting till hopefully this time next year to move because of it all.
Rates were artificially low for so long, house prices grew to reflect that cheap money. I'd been casually looking for a few years, in a particular price range. I FINALLY found my dream house, ran the numbers, and realized that price range was now WAY too expensive for me, despite me making much more money than when I started shopping. House prices have to come down due to interest rates getting back to normal.
Yep, Zestimates dropping like rocks in FL, but sellers aren't taking the hint. Homes are still being put on the market at ridiculous prices that aren't in touch with reality (or what Florida wages can even begin to approach).
this drop in demand could signal a broader economic slowdown. With interest rates rising, it's become much harder for people to afford homes, which not only impacts buyers but also the housing market as a whole.
Construction companies, real estate agents, and lenders could all see a steep drop in business. If this continues, it could lead to layoffs in those sectors and a ripple effect across the economy, similar to what we saw in 2008. It feels like the housing market is teetering on the edge
Absolutely. It’s a bad situation all around. If fewer people are applying for mortgages, that’s less money flowing through the housing ecosystem, which could affect everything from home prices to consumer spending. And with inflation already high, the last thing we need is a housing market crash on top of it.
we aren't in the same situation as 2008. The underlying fundamentals are a bit different this time. Back then, it was driven by subprime mortgages and risky lending practices. Now, it’s more about affordability due to higher interest rates. There’s a chance that if interest rates stabilize or fall, we could see demand pick back up.
That’s true. And maybe this slowdown is what the housing market needs to reset a bit. Prices have been skyrocketing for the past few years, and that wasn’t sustainable. The cooling demand might bring home prices back to a more reasonable level, which could be a good thing in the long run
P&I is not enough... the cost of HOA, Property Taxes, Home Insurance, and average Monthly Maintenance also need 2B factored in. Long ago... the limit was 28% of gross income and even then people ran into life events (job loss, etc) that resulted in the loss of their home and equity. Some, not many, were able to put 20% down to avoid PMI/MMI which should also be factored in. Precisely because gvt is no longer responsive to the voter/citizen people can not be sure the gvt won't make some change that steals their home and equity from them. The greatest drain on the America dream is now govt at virtually every level. Not even 1 state has a balanced budget. They all need money... where are they going to get it? That's right, from the people and a home is just one way, but gvt casts salivating eyes on the equity and retirement savings of each person.
Nick, I have money saved for a house, but I will NOT be buying in these trying times. I will hold that money in case of emergencies or lay offs. Once the economy recoups, and the homes come down, then I will think about getting into the game, not before. I wonder how many more are like me. It simply isn't wise to blow all your money on a failing asset in times like this. Prices in my area doubled in a short time. It needs to decrease by 50% before I will get back in the game. It isn't the interest rates, it is the PRICES.
I learned a lot time ago, even if you are buying for your primary residence, you have to run the numbers as if it was an investment property. At this point, most of the areas I'm looking at are 20-30% overvalued. If you cannot rent a property and at least break even on it, it is overvalued.
People are fed up! I am Gen X and have never been able to afford a house, while my parents and grandparents who worked humble jobs bought their homes in their 20s and now have hundreds of thousands of dollars in equity! I think millennials, who make way more and can't even afford an apartment now, are justifiably pissed (which is why I have no clue why they vote Democrat).
We vote Democrat because they will bring down the entire system, not because we like them. Why would I vote for the king of boomers, who only cares about rich people and their stock portfolios?
@@thisguygardensI agree with you . This socalsal guy wants to blame political parties for his poor financial decisions. I’m Gen x too, both parties have come and gone in my lifetime, I’m closing on my new house next week, maybe , stop blaming politics for your poor planning.
Never buy a home more than 5 times your annual salary and never buy a car more than 1/5 your annual salary. Do that and you'll be off the plantation in no time.
Bought in 2022 at 4x salary and then put 20% down on a 15yr at near 2%. No appraisal waiver, house appraised out. All against the recommendation of this channel. Salary has increased 30% since then as well. We are not ALL in the same boat. No car payments, no credit card debt.
Re; Applications - We are sucked dry by greedy secondary expenses. Making $500 more a month only to see insurance, power, and food go up by $600 a month. If you aren't already in a home, you're not applying for one now if you are in the lower 50%. Not even in the next 4-5 years, most likely.
Great analysis!! You are spot on regarding monthly payment to generate buyer interest. My wife and I sold our home 4 yrs ago and refuse to pay the inflated prices for even basic track homes. Sellers and builders asking $400k for 1,600 sqft track homes. We’ve decided to wait it out forever long as it takes. We have discussed once prices decrease 20% to 25% and we can get a payment right around $2,000 to $2,200 monthly we will purchase.
Fortunately, my spouse and I were able to pay off our mortgage early. While we were both still employed, we took the money we had been using to accelerate our mortgage repayment and invested it immediately. Thanks to nearly 7 years of saving what would have been our mortgage payment and to maxing out our 401K/403B plans, we were able to retire early. Fortunately, both of our parents instilled in us the need of living within our means.
Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
It doesn't matter what the rates do. It doesn't matter how low the prices go. Most people are too busy trying to survive to think about buying a house.
Even if you made $25 an hour, I think a monthly mortgage of $2100 is too high. The bottom line is, many of the homes in Florida , built in the mid fifties for less than 30 grand, shouldn’t be worth 350 to over 400k. What the tax appraisers and county commissioners have done is criminal.
$25/hr is only $52K/ year, that's barely enough to pay rent and that's what most of these greedy corporations run by Boomers and Women who are terrible at math don't understand.
It’s not the tax appraisers fault when idiots from Cali and NY are coming here and waiving inspection, waiving appraisal, and paying cash over asking. They did this to the Florida market. If 3 idiots come in and each one was willing to pay over asking each time then they just put up the comps. This is ruining my city for the people who live here, especially first time home buyers.
The “lipstick on a pig” effect very real down here in FL. so many garbage houses with garbage remods, feel sorry for anyone who’s paying $3-4k a month to live in one of these ticking time bombs
I have friends who have an Air BnB and recommended I get one too. I looked at a similar house in the same neighborhood and realized my mortgage would be HIGHER than what they charge as a monthly rate! I noticed this same pattern right before the 2008 crash.
@CMBBmc-jd6urActually those of us that bought on back of GFC want prices to come back to reality as well as we're being gouged by insurance and property taxes. There is no way our property is worth $500k+ more in less than 13yrs.
800k + homes In my area are very slow to sell. But 1+ acre buildable lots are going very fast within 1-2 weeks. 100k an acre avg on less than 5 acre lots.
How could the house price double in just four years, and now they're suggesting I return, hoping the price would drop by only 20%, while the interest rates are still sky-high? And how much has my salary even increased during this time? I'm happy with renting
Right before home prices skyrocketed.. my buddy who is a plumber told me about how a home builder told him his small business builds homes for about 50-75K, sells it to bank / company for 150, and they turn and sell it to you for 300
My own personal South Florida neighborhood is an interesting mix. People with houses on the lake side are seeing property sale prices increase. People on the interior lots are cutting prices. I wouldn't mind moving to a cooler and more northern location, but I have a 2.75% 15 year fixed mtg. I'm not giving it up. It would be irresponsible. I do have a friend in Huntersville SC who wants to buy a home. He has a cash to buy it, but corporate rental companies are buying up the houses before he can even make an offer.
I live in the Midwest and homes here are no longer affordable here either. Sellers are still listing at 50-100% higher than EMV from 2019/2020. Inventory and DOM are increasing with little to no price reductions. I am waiting on the sidelines for lower interest rates AND lower home prices. Recession incoming.
Idk man i can cop some really decent houses for 100k in iowa or southern mn. If you can afford a down payment you can still work at a geocery store and still be doing great. But i agree tho now is not the time to buy.
10:50 Wasn't it convention that you shouldn't spend more than 30% of gross on total housing, which would include property tax, PMI, insurance, And maybe even utilities?
The FOMO caused people and investors to over pay for houses. For the people it wasn't about value, it was about if the payment fit in their budget. Well, inflation have blown everyone's budget to hell in a basket. So those trying to sell are finding out or will find out soon. Their houses have lost the purchase value, so good luck with "marry the house and date the rate" B.S. I guess economics wasn't taught in school? I've been waiting for a little over 2 years to purchase, when the prices fall to match actual values of houses I'll come back into looking. Again, people need to educate themselves on actual value and let the seller keep puffing on their "hopeum" pipes. I will not sign a contract with any Realtor to unlock a door to look. An hourly rate? ok. I'm sorry, but to pay someone 2-3% on a purchase is done in my book. The biscuits have come off that gravy train, folks! If people being screwed over this last go around hasn't shed some light? Waste your money, I hear it comes easier these days.
People can't even buy food without having to use their credit card. Everything is super expensive. The hospital I work for just laid off over 1000 people. Most people will NOT go out to buy a house even if interest rates go to 0%. Most people are BROKE.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Rents are dropping all over florida, its a classic sign of recession phase in the real estate market and especially if the economy does indeed cool off without magical "soft landing " then real estate will enter the recession phase. Classic. End of economics cycle. End of real estate cycle. And indeed many indications point to this direction. Even consumer sentiment is down, people not buying real estate, even those who can afford, this by itself historically was an indication to bubbles popping. This time around if a recession comes, the fed cannot just go ahead and do crazy stimulation because inflation is still an issue. Cant wait to see how this year ends and saving up my cash
As a Floridian, I have to remind myself that even though Florida and Texas will experience 50+% price drops (they'd have to in order to get back to the 100+ year historical trend line relative to median incomes) because Florida has experienced 110-120% price increases from just 2020-2023 alone, 95% of the country has only experienced 30-50% price increases in that same time period. When someone says they'd consider buying a home with only a 25% price reduction is blows my mind until I realize they must not live in Florida. You need to earn $90,000+ a year in FL to afford the average fixer upper.
I will look for housing market not only when rate cuts will hit 0 lvls, but also when we will hit much higher unemployment lvls. For now i'm totally uninterested in housing market, i'm waiting for black swan event. 👍
If the nominal value is back to 2021 price, this property's price has fallen by a lot when inflation adjusted because 2024 $ are worth 15-20% less than 2021 dollars.
$2100 per month for a mortgage? Sorry sir folks are tapped slam out! I can see maybe $1200, or $1500 but $2100?!? That’s still too high for the average family!
Retired Broker trying to get in to the Eastern Tennessee area but have been holding back , if thie area greed spike does not mellow out, you will see massive Short selling in the future which will ruin both lender and buyer. I for one will not be a victim to that and I can feeel it coming. Good work RC
Although the data may show that the amount of mortgage applications is declining, the amount of views and saves on the most basic homes on zillow show that people are still foaming at the mouth for a home.
Pretty amazing how buyer demand keep declining. In the face of declining mortgage rates.
Issue is prices. Sellers are going to realize that soon.
Access data for your market on Reventure App: www.reventure.app
Agreed. Home prices must come way down for middle America to afford even starter homes here in New Jersey that said all the homes here are being purchased by New York City transients. NJ huge bargain compared to NYC.
No, buyers are not coming back, because the unemployment and fear of losing jobs are increasing. It doesn't matter how low the monthly mortgage gets if people fear losing their jobs. Pay attention to jobs.
I was thinking I could buy in 2025 now it looks like more realistically 2026 or later.
Hello from Denmark
Is it only det Southern states in the USA that are struggling to keep the house prices up?
I can agree with some what you said. After the rate cut, I believe sellers being greedy will first raise their prices, then after there are no buyers they will try to sell at original asking price. They will have it marked down to make it appear like the buyer is getting a deal. When in fact they are not getting a good deal.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
home buyers aren't on strike... they simply can't afford it
We need Trump so the economy gets better ❤🎉
I’m on strike waiting for the market to estabilize itself
@@conniebabcock2839 As much as I wish this were true, whoever is elected will oversee the worse depression in history. Trump would be the absolute best person to see us through it.
Refinance will sky rocket soon
I have 400k just waiting for prices to correct
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes...
@@johnawara9719 That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@FlorentGulliver My advisor is VICTORIA CARMEN SANTAELLA;
You can look her up online
@@johnawara9719 The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Her name is 'Amy Desiree Irish’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I paid up all my mortgages in 2yrs while working with a Financial Adviser. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.
That is so amazing, I’m trying to get onto the investing ladder at 40. I wish at 55 I will be testifying to similar success..
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Report this whole thread as bots guys, thanks!
In our neck of the woods, Sellers who bought in 21 are asking 200% of the price they paid…so more or less double what they paid, often times with no improvements whatsoever and of course absurdly high interest. It’ll sit on the market for six months and they’ll drop it $10,000. It’s offensive we’ll keep waiting.
Same here, that Grandma house that was $600k 3 yrs ago is now $850k, still needs a whole renovation
See the same crap here. Total garbage
Similar situation here in CO. My mom’s neighbor bought in 2015 (or thereabouts) for $500k. Now they’re looking to sell and are listing the house for $1.1 million. Notably, their realtor recommended that they sell at $750k (the house has not been renovated since they bought it and has pretty dated cabinets, floors, etc.). They insisted that the he realtor put it on the market for the $1.1 million and said they they “are in no rush” to sell and will wait for a buyer to purchase at or around their asking price. What’s interesting to me is that the realtor sees the writing on the wall, but sellers are still thinking it’s 2022.
Spot-on! My wife is an MLO in SoCal and has closed 2 loans so far this year. She has been an MLO for 20+ years. NO ONE IS GETTING A MORTGAGE.
Now you add in the number of Realtors not getting deals??? that is 200K+ here in Florida. How many of them are sitting on mortgages that they can no longer pay? Now, you do that for processors and title companies..... they are all waiting praying for a miracle that is not going to come. As soon as the Fed rate cut does not save the market, that is when you will see the layoffs really start.
@@jeremyturner8682 The government will have a loan forgiveness program.
@@cabot100 Who is going to give the US government a loan forgiveness program?
I think most of the business has shifted to new construction. Builders are buying down interest rates and paying nearly all closing costs. Resale market can’t compete.
@@safeandeffectivelol What do you mean by:
"Who is going to give the US government a loan forgiveness program?"
My wife and i are sitting on about 40k for our first home. We want nothing to do with this market. We are paying 1100 a month rent just stashing cash. Between prices, insurance, home upkeep, taxes and stupid high hoa fees. We are really in no rush. It doesnt even seem worth it to us. If sellers want 450k for a 2 bedroom 1 bath home built in 1948 they can keep the house
Good for You!! Hang in there! 🙂
Hopefully you're making 5% on that money. That's $166 per month to help out with rent.
We are sitting on $80k with no rush. We rent a small 600sf house with a great view for $2,800; a typical mortgage would be $5k-$5,500. Southern California.
@@jonathantaylor6926 i have it in treasury ladders. (I work in wealth managment and planning)
Hold strong buyers. The bag holders are freaking out!
People were delusional in the last recession of 2008 before they finally listed their prices at reasonable prices. We are still in the delusional period in a lot of areas. The longer they wait, the more they will lose in the long run.
Absolutely! Interest rates not an issue. The issue is PRICES!
Yes your 100% right
Interest rates aren't the problem. The problem is prices. Interest rates are the solution.
Most buyers are idiots and see interest rates as the driving factor. They are not buying because they know the Fed is dropping rates, so they are waiting.
@@craptacular8282the problem is new buyers keep buying
100%. what good does low rates do when the prices are astronomical? you can refinance rates but you cannot do anything about the price.
All my clients are sitting and waiting. These prices must come down. There is a limit to how much the consumer can be pressured. Even lower rates will not help, really.
I bet.
Banks are selling mortgages. People always say it's a good option to buy at discount, but with the market turmoil and everything at stake in present economy, I'm thinking of buying stable coin to hedge against inflation, or is it all right saving over 350k ?
There are options that spread across multiple banks. I use a non-beginner broker that protest up to 3 million dollars and provide 4.58% returns on cash, it's always a good idea to consider working with an advisor for financial planning
Agreed, financial advisors play a key role in portfolio allocation and i've been using one since late 2019 just before rona outbreak. So far, I'm barely 25% short of $1m ballpark goal after subsequent investments.
Please excuse my curiosity, would you mind sharing more info on your advisor? I’m in dire need of guidance
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for the lead
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Monica Mary Strigle is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her
2100 a month? Nope, it's got to be lower for people to start buying again. How many millions of people are going to lose their jobs in this mess?
Try living in California. 2100 a month you can’t even find a 1 bedroom rental
@@samuelgurgen3436I’ll rent you my garage for $2100
That’s about it
Cali ain’t no joke.
That or hours drastically cut and pay frozen.
Hope a lot
@samuelgurgen3436 try moving
Nick Gerli, one of the greatest champions of consumer awareness of REALITY of the housing market. Thanks for being one of the good guys. Nick saves America from making huge financial mistakes. Blessings
The best!!
People who listened to him two years ago and didn't FOMO into overheated Texas and Florida markets are probably very happy they did (and took the slings and arrows).
People are broke. House prices need to fall to where they were 10 years ago. 50% drop is needed.
50% drop before I'll even look.
I agree, I will hold my cash until then. I will NOT overpay.
They should loose everything and sleep in the dumpster.@CMBBmc-jd6ur
@CMBBmc-jd6ur Not hoping for it, they are in financial ruin as it is. Don't feel badly at all for these people, they are the ones who drove up the prices to begin with, out bidding each other to insane prices without understanding basic math and economics. They are the reason we have an affordability problem. So, yea, I actually am hoping for these imbeciles to learn their much-needed lesson. It is the only way for ordinary Americans to afford to buy at normal levels. A much needed 30-50% correction is necessary and justifiable.
@@sues3218I’m sorry but you will never own a home. I said the same thing in 2016 and finally got common sense and bought in 2020. And I’m glad I did because I would be screwed today if I didn’t.
Yea, I'm in that 30%+ drop group ! Thank you Nick :)
You're going to have to see at least a 50% drop in prices before buyers will return. People are broke.
😂😂😂.
Government employees at all time high, pay-wise.
@@haroldoftherocks1205 Sure all on the Democrat payroll
mortgage applications might be the wrong variable to look at since blackrock buys in cash then rents out to illegals who are using free housing vouchers... so the houses are still getting sold (high demand) but it's not showing up in your data because you can't track the illegals... you can' track what they are doing in the housing market because they don't want you to be able to see what they are doing, it's all very hush hush so Americans don't find out until it's too late... just imagine what a free $150k loan would do to the midwest where the average house is under $150k in some places, the entire midwest and rural real estate would sell to illegals using YOUR MONEY in about 5 minutes and they never have to pay the loan back if they never sell... FREE HOUSES FOR PEOPLE FROM OTHER COUNTRIES while Americans suffer and die
We need to have homes at $1,500 again. That is comfortable for folks. Even his $2,100 is high. Until homes are under $2,000 again, nobody can buy, you're right.
Prices are just too high. Sellers are delusional. Once the prices drop, people like me will jump back in.
Yes you are on your game your total right!!!!!!!!!
so it won't drop since people will jump in?
@@tongtongwang huh?
@@mikeshafer balance it out...
@@tongtongwang 👍
Homes are sitting vacant in Phoenix metropolitan area for over 100 days and coming down with multiple adjustments and still not selling
Home prices are 60-70% higher than they should be. Only idiots will buy houses at these insanely high prices.
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Amy Desiree Irish is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
It's not just the home price and loan interest rate, who can afford the Property Taxes and Ins anymore???
Old houses that need work should not be listed at 350K+
When new homes are at the same starting price.
Cars depreciate. So should certain homes.
Nonsense. People will not be giving away their generational wealth.
Excellent video. Hit the nail on point!
It's not the interest rates. It's the home prices that need to come down drastically
Look, coming from a layperson, let me tell you that most people cannot reasonably afford a $300,000 mortgage at a 0% interest rate…
You are so correct. 80% of the population is BROKE.
Our congress has no idea how we Americans are feeling, we individuals are fed up with this treasonous administration. I feel pity for our country. A lot of people are suffering to survive! I appreciate Ornstein Lindsey! Imagine investing $2000 and receiving $10,500 in few days of trading.
I'll advise you to work with a financial advisor.....Building a good investment portfolio is more complex so I would recommend you seek
I need a financial advisor who will help me with financial planning, investment decisions, and wealth management
Wow, I'm surprised to see Ornstein Lindsey mentioned here as well. I didn't know she had been kind to so many people
I'm surprised you also trade with Ornstein Lindsey, she's the best at what she he does. At first i was afraid too before i gave it a try and realized fear kills dream more than failure.
That is true my dear, Investment is the best idea presently and without it, human struggles are worthless.
Im building a house right now and acting as my own GC. I am going to spend about 50-60% of what a comparable house is selling for right now. The builders are making insane profits on these houses. Material costs are not much higher than they were pre-pandemic. Now that I’ve seen behind the curtains, I can say the builders have a lot of room to drop prices before they start losing money.
I've done that before.... much older now and just don't have the time. Living overseas now just a slower lifestyle. 2K a month takes care of everything. Healthcare is better as we pay cash (go to the front of the line) with my healthcare insurance paying 100% because it's a fraction of what they would have paid in the US for the same care. We have $1000's left over ea. month we just give to our kids. Better quality food that cost less...........
Not sure how many subs you are using but you are 100% paying WAY more than some giant INC builder.. they get a big discount when they are building 450 homes. What you're doing is still a good idea just making the point that you will pay more per sub and still do the job for way less.
@@jonathantaylor6926Im also not building a “builder grade” cheap ass house thrown together as fast as possible. I have $15K garage doors, 11 foot ceilings, marble countertops, wood floors, 6 car garage…Im going to be close to $150/square foot when im done.
I had 3 custom home builders all quote me over $275/ft to build this house. That means they would have over $100/ft profit margin on it. 🤡
Woah! How do you do that? Seems like it'd be difficult to not get jerked around by all the subs
@@Dickie9028 Nice- I too am considering bailing out. Where do you live?
I'm in central Florida. As long as renting remains significantly cheaper here, there isn't any incentive to buy.
Home prices are still overpriced. They need to drop another 30%-40% before buyers like myself return to the market. I feel sorry for those who bought during the buying frenzy after the pandemic. The prices they bought at were at the peak, and now they are stuck. Even if interest rates go down, buyers are still hesitant to buy while the prices are still overvalued.
It’s ridiculous with those prices. FOMO never a good thing.
Here on the Treasure Coast in Florida the listings are a good $150K or more over 2019 levels. We need a 50% or higher correction to get back to pre pandemic levels. People that bought in 2021 0r 2022 that are trying to sell now are tacking on $100K. A lot have lowered their prices by $50K or more and are still sitting. DUH-the prices are still too high!
House prices need to drop 50% before most people would realistically would want to buy
2100 is still too high for a single person buyer
VERY FEW exceptions
The two income world is here to stay. Ever since women entered the workforce en masse (late 70s), single people have had to compete with the two income power couples to buy just about everything (not just houses).
Tell me about it. 2 income households have destroyed the market. Makes it extremely difficult for single income households like me to survive @@CaptainCaveman1170
No one has money. PERIOD.
+1 you get it
illegals have a lot of money... mortgage applications might be the wrong variable to look at since blackrock buys in cash then rents out to illegals who are using free housing vouchers... so the houses are still getting sold (high demand) but it's not showing up in your data because you can't track the illegals... you can' track what they are doing in the housing market because they don't want you to be able to see what they are doing, it's all very hush hush so Americans don't find out until it's too late... just imagine what a free $150k loan would do to the midwest where the average house is under $150k in some places, the entire midwest and rural real estate would sell to illegals using YOUR MONEY in about 5 minutes and they never have to pay the loan back if they never sell... FREE HOUSES FOR PEOPLE FROM OTHER COUNTRIES while Americans suffer and die
Disposable income is what makes the world go round, and we ain't got none of that!
The ones with money already own and are sitting tight.
I have tons of money I'm just holding on to it and waiting
The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that don't depend on the government. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC, ETH...)
I began investing in stocks and Def earlier
this year, and it is the best choice l'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, and maximize it.
What opportunities are there in the market, and how do l profit from it?
You can make a lot of money from the
market regardless of whether it strengthens or crashes. The key is to be well positioned.
I would really like to know how this actually works.
All you need is a good capital, and the
service of a professional broker, with those your investment will most certainly produce high yields.
From paying for day care and college, to managing mortgage payments. I'm approaching retirement yet inflation is getting worse and recession is biting harder by the day. How can I generate more income to retire with at least $3m for long term care? I have about 750k in savings.
investors like you should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder.
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
please how can I reach this expert, I need someone to help me manage my portfolio.
I'm cautious about giving specific recommendations since this is an online forum and everyone situation is unique, but I've worked with "Jessica Lee Horst" for years and highly recommend her. Look her up to see if she meets your criteria.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
My realtor is confused as to why I’m not buying even though interest rates are coming down. She actually said to me “Prices are not coming down” like she has a crystal ball! I told her “I lost two homes in 2011 - and my realtor back then said the same thing to me in 2008.” I’m waiting. It’s coming.
Zestimates dropping everwhere. Every house I click on has a Zestimate lower by 15-35k than the list price. It's crazy! Wasn't like this a couple years back.
That’s similar to what I see but the asking is still 15% more than the value last year. This channel is just fear mongering though.
This channel brings so much value. THANK YOU NICK!!!
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
Contemplating the idea of consulting advisors for guidance has been occupying my thoughts lately. I'm at a point where seeking counsel could be beneficial, but I'm uncertain about the tangible advantages their services could provide.
I appreciate this advice. Desiree seems to possess a wealth of knowledge. Upon reviewing her online profile, I meticulously examined her resume, which left a strong impression. I have initiated contact with her and scheduled a session.
500k for the average house in way too much, even if the interest drops to 3%, the new home owner will be paying over 15k in just interest, plus property taxes and insurance, you could be paying 2k a month just in fees, plus an HOA. That's with no principal paid. California and New York priced everyone out, with greed
Sellers who sit on the market slow playing price cuts are playing Russian roulette. Sellers are praying for help from the Fed Cut -BUT- Market has already priced said cut into TODAYS rate. Buyers still aren't biting AND-if the Fed is truly cutting because they see major recessionary pressure ahead-pile on even more inventory to the growing list (and add to that a motivated seller who can't afford wait around). Great Video, Nick.
I keep telling people the Sept fed cut has already been baked in 😏
they dont have a choice they are already underwater with all the helocs and second mortgages that are not reported but the majority of homeowners i know recently tapped their equity to carry their cost and have fun while they wait.
I know a person that bought 3 properties in the central Florida region during the boom era of 2020-2021. The problem was they were all new construction and the closings were done on August 2022 when interest rates went up to 7%. Now these 3 properties are on the market for sale but the owner only decreases $5k a month. For each property they want $150K of profits for the 2 years they were holding them but only decreases small amounts. There is blood in the water people.
@KAZHE63 this is true. Stock drop after each negative publicity on the market, but the big three buy right back in raising the market back up. If rates drop, we're screwed.
Exactly right 👌🏻
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
The continuously changing economic conditions in our society have made it necessary for people to find additional sources of income, thus I am looking at the stock market to fuel my retirement goal of $3m, my only concern is the recent market crash.
for the majority, the solution to their problem can be found in specialized knowledge... "Expert solutions require Expert providers"
Agreed, despite my rookie knowledge of investing, I have a financial advisor who did the trick in a bit more than 6 months after a lump sum capital of $500k. I've made a fortune so far, and I'm now buying real estates, gold and silver as advised by my FA.
i'm blown away! mind sharing more info please? i am a young adult living in Miami where i've encountered several millionaires, and my goal is to become one as well
“Jessica Lee Horst” is the licensed advisor I use. Just google the name and you’d find necessary details. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
curiously inputted Jessica on the web, spotted her consulting page and was able to schedule a call session, no sweat. Ive seen commentaries about advisors but not one looks this phenomenal
Rates are not high, they are average. The price of the assets are over priced and buyers are figuring it out
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless Sonia bless America.
Please how
I am tired of working per time jobs
Please share more info
She's active on What's Apk
She communicates on WHAT S A P P on the digits below>
I live in NM . The suburb that my wife and I are looking to buy in is crazy. So many houses bought in 2019 2020 are trying to sell now but at 2x+ they bought at then with no improvements. We are waiting till hopefully this time next year to move because of it all.
Rates were artificially low for so long, house prices grew to reflect that cheap money. I'd been casually looking for a few years, in a particular price range. I FINALLY found my dream house, ran the numbers, and realized that price range was now WAY too expensive for me, despite me making much more money than when I started shopping. House prices have to come down due to interest rates getting back to normal.
I live in Austin. There’s been some correction since the 2022 highs, but nowhere near falling all the way down to the early 2020 pre-pandemic pricing.
Yep, Zestimates dropping like rocks in FL, but sellers aren't taking the hint. Homes are still being put on the market at ridiculous prices that aren't in touch with reality (or what Florida wages can even begin to approach).
I am in Austin. My zestimate has dropped from 598k at the peak to 432k now.
This is starting to feel like déjà vu from the financial crisis.
this drop in demand could signal a broader economic slowdown. With interest rates rising, it's become much harder for people to afford homes, which not only impacts buyers but also the housing market as a whole.
Construction companies, real estate agents, and lenders could all see a steep drop in business. If this continues, it could lead to layoffs in those sectors and a ripple effect across the economy, similar to what we saw in 2008. It feels like the housing market is teetering on the edge
Absolutely. It’s a bad situation all around. If fewer people are applying for mortgages, that’s less money flowing through the housing ecosystem, which could affect everything from home prices to consumer spending. And with inflation already high, the last thing we need is a housing market crash on top of it.
we aren't in the same situation as 2008. The underlying fundamentals are a bit different this time. Back then, it was driven by subprime mortgages and risky lending practices. Now, it’s more about affordability due to higher interest rates. There’s a chance that if interest rates stabilize or fall, we could see demand pick back up.
That’s true. And maybe this slowdown is what the housing market needs to reset a bit. Prices have been skyrocketing for the past few years, and that wasn’t sustainable. The cooling demand might bring home prices back to a more reasonable level, which could be a good thing in the long run
Absolutely insane to buy homes that are double then what they used to be 5 yrs ago
I'm favoured, $22K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
You're correct!! I make a lot of money without relying on the government.
Investing in stocks and digital currencies is beneficial at this moment.
I just want to use this opportunity to say a very big thank's to Sonia duke and his Strategy, he changed my life.
Soina Duke program is widely available online..
Great reviews! I will definitely give her a try with my $5000 and see how it goes
Started with 5,000$ and Withdrew profits
89,000$
P&I is not enough... the cost of HOA, Property Taxes, Home Insurance, and average Monthly Maintenance also need 2B factored in. Long ago... the limit was 28% of gross income and even then people ran into life events (job loss, etc) that resulted in the loss of their home and equity. Some, not many, were able to put 20% down to avoid PMI/MMI which should also be factored in.
Precisely because gvt is no longer responsive to the voter/citizen people can not be sure the gvt won't make some change that steals their home and equity from them.
The greatest drain on the America dream is now govt at virtually every level. Not even 1 state has a balanced budget. They all need money... where are they going to get it? That's right, from the people and a home is just one way, but gvt casts salivating eyes on the equity and retirement savings of each person.
Nick, I have money saved for a house, but I will NOT be buying in these trying times. I will hold that money in case of emergencies or lay offs. Once the economy recoups, and the homes come down, then I will think about getting into the game, not before. I wonder how many more are like me. It simply isn't wise to blow all your money on a failing asset in times like this. Prices in my area doubled in a short time. It needs to decrease by 50% before I will get back in the game. It isn't the interest rates, it is the PRICES.
This🫡
@Nick, the next weeks/months are crutial to understand where the economy, housing market headed, can't wait for your take , am tuned in , thank you
OMFG the zestimates just started to turn down in my area. Pasco, WA.
I learned a lot time ago, even if you are buying for your primary residence, you have to run the numbers as if it was an investment property. At this point, most of the areas I'm looking at are 20-30% overvalued. If you cannot rent a property and at least break even on it, it is overvalued.
People are fed up! I am Gen X and have never been able to afford a house, while my parents and grandparents who worked humble jobs bought their homes in their 20s and now have hundreds of thousands of dollars in equity! I think millennials, who make way more and can't even afford an apartment now, are justifiably pissed (which is why I have no clue why they vote Democrat).
We vote Democrat because they will bring down the entire system, not because we like them. Why would I vote for the king of boomers, who only cares about rich people and their stock portfolios?
Gen X = 1965 - 1980 “I have never been able to afford a house” - be honest that this is from poor choices you have made in your life.
@@thisguygardensI agree with you . This socalsal guy wants to blame political parties for his poor financial decisions. I’m Gen x too, both parties have come and gone in my lifetime, I’m closing on my new house next week, maybe , stop blaming politics for your poor planning.
CONGRATULATIONS 🎈🎊🎉🍾 ON ALL YOUR SUCCESS. You’re doing an awesome job and I’m happy for you. Blessings,Carlos ✝️🙏❤️😊🇺🇸
Never buy a home more than 5 times your annual salary and never buy a car more than 1/5 your annual salary.
Do that and you'll be off the plantation in no time.
Bought in 2022 at 4x salary and then put 20% down on a 15yr at near 2%. No appraisal waiver, house appraised out. All against the recommendation of this channel. Salary has increased 30% since then as well. We are not ALL in the same boat. No car payments, no credit card debt.
@@D2O2 Soon you'll find yourself off of the plantation.
I live in Utah and haven’t seen any price drops and builders are still building like crazy.
Re; Applications - We are sucked dry by greedy secondary expenses. Making $500 more a month only to see insurance, power, and food go up by $600 a month. If you aren't already in a home, you're not applying for one now if you are in the lower 50%. Not even in the next 4-5 years, most likely.
I don’t want to buy a house because I’m sick and tired of the Federal Reserve controlling the housing market.
Your videos keep me awake and alert on the road...
Great analysis!! You are spot on regarding monthly payment to generate buyer interest. My wife and I sold our home 4 yrs ago and refuse to pay the inflated prices for even basic track homes. Sellers and builders asking $400k for 1,600 sqft track homes. We’ve decided to wait it out forever long as it takes. We have discussed once prices decrease 20% to 25% and we can get a payment right around $2,000 to $2,200 monthly we will purchase.
Your chart of the mortgage payment matrix is a great resource. Thank you.
Fortunately, my spouse and I were able to pay off our mortgage early. While we were both still employed, we took the money we had been using to accelerate our mortgage repayment and invested it immediately. Thanks to nearly 7 years of saving what would have been our mortgage payment and to maxing out our 401K/403B plans, we were able to retire early. Fortunately, both of our parents instilled in us the need of living within our means.
Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
It doesn't matter what the rates do. It doesn't matter how low the prices go. Most people are too busy trying to survive to think about buying a house.
Even if you made $25 an hour, I think a monthly mortgage of $2100 is too high.
The bottom line is, many of the homes in Florida , built in the mid fifties for less than 30 grand, shouldn’t be worth 350 to over 400k. What the tax appraisers and county commissioners have done is criminal.
I just bought a house in punta gorda for 172k. House is in the mid 50’s. They wanted 200k for it
$25/hr is only $52K/ year, that's barely enough to pay rent and that's what most of these greedy corporations run by Boomers and Women who are terrible at math don't understand.
It’s not the tax appraisers fault when idiots from Cali and NY are coming here and waiving inspection, waiving appraisal, and paying cash over asking. They did this to the Florida market. If 3 idiots come in and each one was willing to pay over asking each time then they just put up the comps. This is ruining my city for the people who live here, especially first time home buyers.
I make 33 an hour, work two jobs and pull about 90k annually. 2100 is still too much. I'm in that 1500 per month ball club.
look who ruins the country, Joke and Kakamala, the poster children of incompetence
The “lipstick on a pig” effect very real down here in FL. so many garbage houses with garbage remods, feel sorry for anyone who’s paying $3-4k a month to live in one of these ticking time bombs
I have friends who have an Air BnB and recommended I get one too. I looked at a similar house in the same neighborhood and realized my mortgage would be HIGHER than what they charge as a monthly rate! I noticed this same pattern right before the 2008 crash.
Love your statistical charts ! They don't lie,do they ? We are in a troubled economy and maybe for years before we get back to normal !
The collective American public has spoken that the houses aren’t worth what the market says they are right now. It should be 30-40% drop at least.
Amen!
@CMBBmc-jd6ur You’re absolutely right.
@CMBBmc-jd6urActually those of us that bought on back of GFC want prices to come back to reality as well as we're being gouged by insurance and property taxes. There is no way our property is worth $500k+ more in less than 13yrs.
@CMBBmc-jd6ur66% increase in 13 yrs on our home. That's not reasonable. At all.
800k + homes In my area are very slow to sell. But 1+ acre buildable lots are going very fast within 1-2 weeks. 100k an acre avg on less than 5 acre lots.
How could the house price double in just four years, and now they're suggesting I return, hoping the price would drop by only 20%, while the interest rates are still sky-high? And how much has my salary even increased during this time? I'm happy with renting
Actually the interest rates are not sky high. They are normalized.
@@jeremyturner8682
Yes, I’m celebrating the mortgage rate increasing from 3% to 6.4%, and that house prices have doubled in less than four years🎂🎂🎂🎂
@@fh1087 Mortgage rates were never 2%.
It’s not that prices doubled. The dollar lost 50% of its value. M2 money supply went through the roof, Trump printed trillions of new cash
For the dollar to lose 50%, but the house price more than doubles ,makes zero sense to a potential buyer.
Right before home prices skyrocketed.. my buddy who is a plumber told me about how a home builder told him his small business builds homes for about 50-75K, sells it to bank / company for 150, and they turn and sell it to you for 300
Houses are 30-50% overpriced! Nashville real estate is ready to collapse. Guess who will loose all their paper wealth?
I don't even want to pay 2100 a month. That's too much house for one person. Stupidly wasteful.
My own personal South Florida neighborhood is an interesting mix. People with houses on the lake side are seeing property sale prices increase. People on the interior lots are cutting prices. I wouldn't mind moving to a cooler and more northern location, but I have a 2.75% 15 year fixed mtg. I'm not giving it up. It would be irresponsible.
I do have a friend in Huntersville SC who wants to buy a home. He has a cash to buy it, but corporate rental companies are buying up the houses before he can even make an offer.
I live in the Midwest and homes here are no longer affordable here either. Sellers are still listing at 50-100% higher than EMV from 2019/2020. Inventory and DOM are increasing with little to no price reductions. I am waiting on the sidelines for lower interest rates AND lower home prices. Recession incoming.
Idk man i can cop some really decent houses for 100k in iowa or southern mn. If you can afford a down payment you can still work at a geocery store and still be doing great. But i agree tho now is not the time to buy.
You said it. It's home prices not rates!
10:50 Wasn't it convention that you shouldn't spend more than 30% of gross on total housing, which would include property tax, PMI, insurance, And maybe even utilities?
The FOMO caused people and investors to over pay for houses. For the people it wasn't about value, it was about if the payment fit in their budget. Well, inflation have blown everyone's budget to hell in a basket. So those trying to sell are finding out or will find out soon. Their houses have lost the purchase value, so good luck with "marry the house and date the rate" B.S. I guess economics wasn't taught in school? I've been waiting for a little over 2 years to purchase, when the prices fall to match actual values of houses I'll come back into looking. Again, people need to educate themselves on actual value and let the seller keep puffing on their "hopeum" pipes. I will not sign a contract with any Realtor to unlock a door to look. An hourly rate? ok. I'm sorry, but to pay someone 2-3% on a purchase is done in my book. The biscuits have come off that gravy train, folks! If people being screwed over this last go around hasn't shed some light? Waste your money, I hear it comes easier these days.
People can't even buy food without having to use their credit card. Everything is super expensive. The hospital I work for just laid off over 1000 people. Most people will NOT go out to buy a house even if interest rates go to 0%. Most people are BROKE.
Nick, you need to get up to Santa Rosa Beach. The market here is still going insane.
I'm in DFW Texas. Inventory exploded in my zip code but they still want high prices 😂
We have been looking from Denison clear over to Granbury. All suburbs and outer cities- home prices ridiculously high.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Reason I decided to work closely with an brokerage-adviser ever since the market got really tensed and the pressure became so much(I should be retiring in 17months) so I've had an brokerage-adviser guide me through the chaos, its been 9months and counting and I've made approx. 650K net from all of my holdings.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Rents are dropping all over florida, its a classic sign of recession phase in the real estate market and especially if the economy does indeed cool off without magical "soft landing " then real estate will enter the recession phase. Classic. End of economics cycle. End of real estate cycle. And indeed many indications point to this direction. Even consumer sentiment is down, people not buying real estate, even those who can afford, this by itself historically was an indication to bubbles popping. This time around if a recession comes, the fed cannot just go ahead and do crazy stimulation because inflation is still an issue. Cant wait to see how this year ends and saving up my cash
As a Floridian, I have to remind myself that even though Florida and Texas will experience 50+% price drops (they'd have to in order to get back to the 100+ year historical trend line relative to median incomes) because Florida has experienced 110-120% price increases from just 2020-2023 alone, 95% of the country has only experienced 30-50% price increases in that same time period. When someone says they'd consider buying a home with only a 25% price reduction is blows my mind until I realize they must not live in Florida. You need to earn $90,000+ a year in FL to afford the average fixer upper.
100%? If you look at canal houses, it's averaging about 400% markups in the last 4 years. I've seen 8x.
I would run if I were in Florida, insurance prices will be higher than mortgage payments along with property taxes.
This channel should have at least ONE million subscribers. His APP is a gem and is a bargain ... !
I will look for housing market not only when rate cuts will hit 0 lvls, but also when we will hit much higher unemployment lvls. For now i'm totally uninterested in housing market, i'm waiting for black swan event. 👍
If the nominal value is back to 2021 price, this property's price has fallen by a lot when inflation adjusted because 2024 $ are worth 15-20% less than 2021 dollars.
$2100 per month for a mortgage? Sorry sir folks are tapped slam out! I can see maybe $1200, or $1500 but $2100?!? That’s still too high for the average family!
People are broke with those high prices
@@SPenninah0425 ABSOLUTELY!!!
Correct
Retired Broker trying to get in to the Eastern Tennessee area but have been holding back , if thie area greed spike does not mellow out, you will see massive Short selling in the future which will ruin both lender and buyer. I for one will not be a victim to that and I can feeel it coming. Good work RC
Not happening here
Most people have NO $$$$$$$$$$$$$$$$, and soon they’ll have NO JOB.
U should invest w ferguson. Solved everyone else's shitty lives. Next scam please.
Although the data may show that the amount of mortgage applications is declining, the amount of views and saves on the most basic homes on zillow show that people are still foaming at the mouth for a home.
THE ISSUE IS GREED !!!!!!!!