The State of the Housing Market ft.
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- Опубликовано: 22 сен 2024
- Is the housing market going to crash? Is it a good time to buy a home? What are some concerning trends emerging? In today’s video, I’m joined by Travis Spencer of @realestatemindset to have a discussion about the state of our US housing market.
Travis Spencer’s RUclips channel (Real Estate Mindset):
/ @realestatemindset
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Compilation of Housing Market Forecast videos:
• Housing Market Predict...
To give you a quick mortgage interest rates update, according to the Mortgage News Daily the average 30yr fixed mortgage rate is around 7.3% for the current mortgage rates (at the time of filming this video for those with excellent credit).
Comment below: what’s your housing market forecast? Do you think a housing crash will happen or are your housing market predictions that the real estate market and home prices will continue to surge?
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Jason Walter, CPA (inactive CPA lic 103885)
Sacramento real estate agent and native (DRE 01923240)
Mortgage Loan Officer, NMLS 2566691
Revest Homes (DRE 02174879, NMLS 2362319)
jason@meetjasonwalter.com
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Disclaimer:
Jason Walter is not a practicing tax accountant or a licensed attorney or financial adviser. Therefore, the information in these videos shall not be relied upon as tax, legal, or financial advice from a qualified perspective. If you need such advice, please contact a qualified tax accountant, attorney, or financial adviser. We have taken reasonable steps to check that the information in this video is accurate but we cannot represent that it is free from errors. You expressly agree not to rely upon any information contained in this video - it is for entertainment purposes only.
This video description may contain affiliate links that allow you to easily find the items mentioned in my videos as well as support the channel at no cost to you. Thank you for your support! Jason Walter is a licensed real estate agent and mortgage loan originator with Revest Homes in California (DRE 02174879, NMLS 2362319).
#housingmarket #realestate #RealEstateMindset
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Always a pleasure Jason. Thanks again for all you do 🙏
Thank you for being a guest!
You guys are really feeding my real estate addiction. Im addicted to the housing market. I work 7 days a week. Sold everything I own that’s not real estate. Don’t even have furniture anymore. Eat rice beans and eggs. Barely see my kids anymore. All worth it when i stare at my kitchen and take a big whiff and pump myself up with all my success and think about the next house to buy! Im going full throttle. Anyone and everyone who gets in my way will be bull dozed Let’s go! 💪
I like listening to Jason. He’s down to earth, grounded, and not animated. He gets down to the meat and potatoes..
Two best RE youtubers, most level headed and comprehensive! Love you both guys! Thank you for what you doing!
It's funny how people say the market won't crash like it did in GFC because it's different now. Well of course it's different, that doesn't mean the current circumstances won't lead to a large correction. Intrinsic value has been completely discarded because people just want a house for personal, emotional, or speculative reasons (similar to the tulip mania centuries ago)
People are carrying high amounts of debt. Wages and jobs are going in the wrong trajectory. Macro economic conditions are gloomy especially regarding large sectors like commercial real estate and auto lending. Inventory has nowhere to go but up (and govts are doing everything to encourage more housing development while its only a matter of time before boomers finally start letting go of their house). Homes are selling at very high prices on all objective metrics. Where is any forward looking data that would give reason to believe we aren't at or near the peak?
Jason brings logic, Travis brings heart. Great combo 🔥
Thank you for watching the video and for leaving a comment!
So much this ❤
I’ve been hoping and waiting for this - my two most trusted real estate RUclipsrs.
This is bonkers!!!🎉 Great to see the collaboration
All the heavy hitters are here……Jason/Travis & Orlando! Salute 🫡 Gentleman 👍
Thank you Orlando! Have an awesome weekend.
Watch all 3. All 3 are crash bros but sometimes theres some logic in what they are saying ;D
Already happening here in sw Fl! We have 7-8 months of inventory!
Travis going ABSOLUTELY BONKERS!👍
BONKERS!
As soon as Feds drop the rates, the market will light like a match and gasoline. In fact, if they lower into much, it’ll drive prices so high, the unaffordable issue we have now, will be negligible compared to the issue we would have.
I reactivated my license 2 years ago and I'm sitting this one out. Until prices correct, there will be much more demand and that is a good thing. Volume is down and this market now should not be cheer leaded. Everyone benefits when the market is balanced and that will happen when rents will again be in line with PITI expenses. We're not even close to that in basically all the markets with a few exceptions. I would be a terrible buyer's agent because I would advice basically every buyer not to buy. But, it's coming
Love.both of you
This is an all star collaboration, it’s like Kobe and Shaq
Thank you very much. I appreciate your kind words.
I was going to say Michael Jordan and Larry Bird
Travis you are such a breath of fresh air, finally a REALIST speaks the truth
Excellent info. Thank you both
Always love to see a couple of the best real estate dudes on RUclips!
Thank you for your support!
Two of my favorites together! ❤
Yay! So glad you two did a video together! Could one of you please go through what to look out for in new build contracts? Or if thats too under the hood for the public, how can we know if our realtor is actually going to protect us with the builder (presumably the reason for using a realtor with a new build)?
Maybe I’ll make a video about that. Thank you
@@JasonWalter1 love it! No pressure. Just something I’ve always wanted to know. I’ve bought two new builds before without issue, but I’m wondering if that was just luck or if there are legitimate concerns in today’s new build contracts that are different from pre-pandemic.
That would take us 4 hours lol they are huge @@JasonWalter1
Great post Jason. I feel just like you guys, but the reality of the inventory is so freakin' depressing here. Not an expert, I know. But the problem is that things here in Ventura County, and likely in most coastal areas of California, and a good deal of inland areas in Cali, have permanently changed forever. I have not seen a large home building project on detached homes in over 20 years in Ventura Co.. Save for a couple of big project for the ultra rich in Camarillo and T.Oaks. A good deal of those went to Senior only projects, which is truly puzzling, as some of those homes were well over 3k sq. feet. Those are going to be so damn active seniors, just keeping up with cleaning their 4 toilets etc.. The population in our county is close to 900K, and there are 600 detached homes for sale TODAY, April 13, 2024. That's crazy. Austin texas, with an almost equal population has almost 3,000 detached homes for sale right now. There are no plans to make more detached homes, only condos. I expect the condo market to soften with these rates, but not detached homes. These higher interest rates, I fear, will only decentivize builders; I feel for my own family, and my own kids. God help us.
Two of my favorite Real Estate guys.
Glad to hear that!
You both are great
I watch both of you all the time and thanks for the video's
"Madness..Is like Gravity. All it takes is a little push"...small inventory increases meet falling demand...prices fall leading to latest buyers equity getting wiped out...more houses hitting the market with more of the 2020-22 buyers go under water...more houses hitting the market and will only stop after recession is over, interest come down, they will introduce 40/50 year generational mortgages. The next 4 years will be wild.
Great show.
Builders stocks have gone up about 100% in the last 12 months, there’s a reason why, the builders are crushing it right now and they will continue to
Wow Jason, where was my invite!?!?
Good morning Jonni!
😂😂 Can't believe we didn't invite Johnni
Great video
Good to see this collaboration.
I've been following Jason for about 3 years. I'm humbled man.
House prices MAY come down 10%-15% nationwide. They did late 2022. That said if rates stay elevated and people are in year 2 or 3 of waiting did they really win? They woulda paid down their balance. I say if you can afford to buy and need to buy, buy. Also a 15% decline will usher in another wave of investment buyers.
Prices didn’t drop 15% nation wide in 2022
Brilliant 🎉
This should have been a longer interview. Cut off too soon. But, still good. Thanks.
Travis, please help Jason on how to get his camera exposure levels equal to yours. Maybe even tell him what equipment you use/ Please help him. I will 100% subscribe to you if you assist Jason. 😄🙏🏻
Bonkers, good title.
Enjoy!
🤘😎🤘
Good morning!!
Bonkers! ❤️
💯 BONKERS
Did you watch The Big Short?
Is that what’s happening now? Again?
Great stuff guys. Look at those rates soar!
Glad you enjoyed it. Good morning!
Damn this was legendary
We were only missing @JohnniFly
Isn't earnest money protected by the buyer's contingencies? After that the seller's interests are being insured by it. Isn't that the whole point? "Liquidated damages"
Always read your contract and consult an attorney when need be. The point I was trying to make is in my market and specifically in regard to new builds, often they don't have those contingencies that protect your earnest money like in resale.
@@realestatemindsetnew build is a completely different situation unless you are building a house on your own land. The builders contracts, when they own the land, are 100% against the buyer.
The only way I would do a new build is if I own the land.
The party that owns the land is in control of the process.
@AJourneyOfYourSoul Yes. Also, the level of protection varies from builder to builder. Some are more toxic than others. We have to pay attention to the contract, always
Bonkers!
I locked my rate on the day before the CPI report!
Good job.
Yesterday i asked about Melody Wright. Travas has done several cross overs with her. I think you would find it very interesting to have her on your channel.
Why would you have on a crash bro??
Because it gets a lot of views and a ton of engagement. Look at the RE vidz that spew just facts and only facts… it bores the shit out of people, writ-large, and doesn’t feed their bias.
Man this feeds my real estate addiction. I gave up all hobbies. Only eat beans rice and eggs. Work 7 days a week. Sold all my stuff. Barely see my kids. Just so I can obtain more real estate!! Nothing gets me more excited then the housing marked. Im an addict.
I just go home and stand in my kitchen and take a whiff of my success to inflate the shit out of my ego and I just can’t get enough. Can’t wait to make my next offer! Lets go!!
My house in coastal SC just crossed the million dollar mark for the first time (1,004,500) on Zillow. Usually the price follows the stock market. So after last week on the stock market, and potential for Israel/ Iran war, I was expecting a big decline. Maybe next week. But milestones are fun.
I calculated that if my home was in Palo Alto it would be worth $4.3 million based on price per square foot.
wow this is like Mario and Sonic in a video game together
Why don't you do a video on seattle housing market
In a few words, we need prices to crash.
Btw...switch your glasses Travis. They seem kinda off
Bonk
Mahalo BONKERS🤙🏽🌴🇺🇸🍍🌺
Mahalo 🎉
1😊
Good morning and happy Saturday Steve!
@@JasonWalter1 no way I wasn’t shooting for number 1 with Travis on this channel today!👍😃
Maybe people should also clean up their finances….. buy when you’re financially strong…. Don’t worry about things you can’t control like interest rates. Worry about what you can control.
Oh boy, who'll be invited next? Reventure consulting? 😂
Enough with the damn bonkers..😂
Home prices in California are at an all-time high. There is no crash coming. When interest rates decline, prices will accelerate even more. So Cal hotter than Nor Cal.
I see lots of price cuts here in southern California, your property needs to be in good condition and priced right or it's not going to sell
For the state as a whole the median sold price for Feb is still below 2022’s peak based on data from CAR. I’m guessing you’re referring to a different source or a specific CA metro? Thank you for your comment and good morning!
@@markme4 Prices up 5% yoy, time on market is flat. So Cal is a tight market.
@@JasonWalter1 Redfin data center, Los Angeles metro.
@@JamesG1126 5% ? Not seeing that here in Orange county
Don't get investment advice from RUclips
People need to live that's why.
Your videos are great because you look at the data from all ends. Your guest cherry picks data to support his narrative. He has been saying be patient, “prices are coming down” for years. People who listened to him are likely priced out now because they missed 3% rates and home prices 30% lower. It’s a real shame.
I wouldn’t say that.
I avoided a mortgage completely because I waited and put 100% cash down.
Why would I celebrate a 3% mortgage when I can celebrate no mortgage at all?
@@KurplodeWhy are you celebrating "waiting" and paying 20%+ more ?
@@jaydeeare285 lol, I got the seller down to 2018 prices.
So I didnt
Because I got the seller down to before pandemic prices. That’s even better than a low rate.
@@Kurplode Sure buddy. Sure.
🙄
Are they twins?
@realestatemindset He blocked me on his channel for speaking the truth . Has the housing market crashed yet 3 years on? If you want to be on peoples channel then simply agree with them , don’t disagree that’s what I learnt. My prediction again is there will never be a substantial price decline event if the rates are going to be 8% , it’s all about supply not about demand .
Your truth: harass people from 10 different troll accounts. Cry when you get caught. Come on man. Im waiting for your other troll accounts to join this thread. Im right 😂 RUclips is wild world but not as wild as the housing market. Having said that, I still hope you're doing well and don't act like you don't have another 9 accounts lurking
He's very emotional. He can't help himself
@@realestatemindset bro not my problem if you though I have multiple accounts, you will not be able to guess who this is. 🤫
@@v2plus4 I think is he emotional. thats why I think he suffers from 2008 PTSD
@@realestatemindsetHow many different accounts on other real estate channels do you post from ? I know of at least 4.
Why do you have Travis on he’s always wrong he quit his job when he said it was gonna be a crash and then prices have been up 40% since he has no clue what he’s talking about
Buy and hold for the long run. It’s not doing gloom in the long run unless you’re in a market that’s really crashing. And as you know, there are few and far between.
"Oh He's a Doomer! He's a Doomer!!!!" Doomers get the views.
At least he's a doomer with a heart. It's really hard to believe where we are after the pandemic. And my real estate expert friend, who predicted the solar eclipse, assured me that home prices would totally collapse in 2020 and not recover for decades. Right.
Waiting for Jason Hartman to come on
We dont need higher interest rates.People can afford anything.
Travis is a crash bro and has been wrong for years and has hurt so many people. Pathetic
🤔 Why buy a 50% overinflated home? Do you go to McDonalds and pay $20 for a hamburger 🍔?
O, you might be in California, so maybe you do.
@@01Lenda I missed you. Did you get my email? I have no idea what happened 😅. Discord!
@@01LendaPeople were saying the same thing 2 years ago when houses were 20% inflated, now it’s 50%. You waiting for 75%? 100%?
@hood6854 Wrong. We never even hit a new high in 2023 (national avg). Just look up the data bud. No need to use your emotions when it comes to such a massive transaction. Just take the initiative and find out. If you make it that far check out new home data down 19.3% from October 2022. What metro went up 50% in the last 2 years?
Travis is such a phony. He blocks anyone who disagrees with his content. He’s been screaming that the real estate sky is falling for a long time, and he’s been nothing but wrong.
PRESIDENT TRUMP = GREAT REAL ESTATE MARKET!!!
Car insurance made up almost the entirity of transportation services. Coming im at 22% inflation. Followed by energy.
We dont have an inflation problem we have a greedy corporation problem. They keep rates up theyre going to cause deflation.
Which is actually fine with me. But the markets wont like it.
Pure idiocy. I listen to laugh now.