I am very aware and attentive! It's not the rates! It's not seasonality and I am actively shopping! I am not checking out or waiting on the election. It's the PRICES! It's the PRICES! It's the PRICES!
Homes with good quality and realistic prices sell in a few days. Overpriced fixers sit for months or are turned into rentals. Many sellers have unrealistic expectations
Yes, stubborn sellers. Mostly influenced by their agents who are scheming to keep prices elevated. Of course, as always, they'll figure out that a smaller paycheck is better than no paycheck at all, then we'll see the panic selling settle in.
Hi Mike, I like your data, and appreciate you. Only suggestion is that you not comment on the economic triggers, causes, etc. it's often not correct. You admit not being an economist, all you have to do is not comment on trade policy or other econ items. which is ok because no one is relying on you to have ideas/insight on why things happened. Your insight is helpful on what the data is doing. That aside, im thinking the buyer behavior is still driven by recency bias of the rate hike, and will take longer to dissipate. And it has brought us into an election year, which is main cause for the delay now. People know job availability and tax burdens are going to be radically different depending on what happens in Nov. That's why new/excess buyers are not coming into the market yet (vs a seller simply selling one home and buying another). Have a great weekend!
What makes you possibly think that potential buyers jump at the first rate cut? There will be more, so good reason to wait. Prices won't appreciate, so no rush. They might go down, so even better. It will be a long time until people get back into the market. Watching the dumpster fire from the outside is much more fun than being part of it.
@@raymond_sycamore Huh? I’m self employed, a prolific trader, and I’ve flipped three houses in the last three years. I’m a savvy buyer, Raymond, not some rookie to the markets.
Until DR Horton / Lennar etc drop their prices 30%+, then avoid buying new. Over pay as most have since 2022 and you will never have any equity in your home. You know what you get with a $425k mortgage? You get a $2700 per month payment. 90% of Americans can not afford this.
Buyers don’t care about the rates now. The FOMO buyers bought, the few who could afford purchased, and the vast majority of buyers are just sitting on the sidelines patiently waiting.
The problem with all bubbles always is that you do run out of greater fools at some point. The buying has stopped, but so has the new inventory in many (but not all) places. I'm convinced that there is absolutely a metric ton of pent up supply out there, especially in California, but some "invisible hand" is keeping that supply off the market. And it's not just the lock-in effect, there is definitely something else contributing heavily to the dearth of units on offer. I have been using my hometown of Hawthorne CA as a barometer for over two decades now. In normal times, available inventory would/should be about 140 homes. Now it's around 56 and it has been for ages. 27 homes or so was the ridiculous low set around 2021...in a town with 86,000 residents! When/if the inventory in California doubles as it should, there's going to be a deluge of negative equity in the entire country. Well, who knows, maybe the Chinese money can keep this charade going on forever?
@@Abdul-nt9uk Where I live in Miami, Fl a neighbor was selling their townhome. There was an “open house” a few weeks ago. The realtor was standing by the entrance of the community and not the actual house. A few hours later I peeked outside and he was still by the community entrance and not near the actual home for sale. It seems like no one went to see the home.
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
no point in lower rates if the seller just raises prices to keep the monthly payment the same
I am very aware and attentive! It's not the rates! It's not seasonality and I am actively shopping! I am not checking out or waiting on the election. It's the PRICES! It's the PRICES! It's the PRICES!
All the FoMo buyers and magical “California” buyers are done. It’s over. Prices will be coming down
🗣louder for people in the back! lol. In the NY/NJ metro area prices are still popping and homes are still being swallowed up despite the prices.
Great information ❤Prices have to come down to care .
Love it when the experts are surprised. Means people are finally doing what they should, instead of what the players set up for them to do.
Nope
Pricing
It’s a bad combo of stubborn sellers and un affordability. Nobody is going to jump into this market right now. Too much uncertainty.
Homes with good quality and realistic prices sell in a few days. Overpriced fixers sit for months or are turned into rentals. Many sellers have unrealistic expectations
Yes, stubborn sellers. Mostly influenced by their agents who are scheming to keep prices elevated. Of course, as always, they'll figure out that a smaller paycheck is better than no paycheck at all, then we'll see the panic selling settle in.
Hi Mike, I like your data, and appreciate you. Only suggestion is that you not comment on the economic triggers, causes, etc. it's often not correct. You admit not being an economist, all you have to do is not comment on trade policy or other econ items. which is ok because no one is relying on you to have ideas/insight on why things happened. Your insight is helpful on what the data is doing.
That aside, im thinking the buyer behavior is still driven by recency bias of the rate hike, and will take longer to dissipate. And it has brought us into an election year, which is main cause for the delay now. People know job availability and tax burdens are going to be radically different depending on what happens in Nov. That's why new/excess buyers are not coming into the market yet (vs a seller simply selling one home and buying another). Have a great weekend!
What makes you possibly think that potential buyers jump at the first rate cut? There will be more, so good reason to wait. Prices won't appreciate, so no rush. They might go down, so even better. It will be a long time until people get back into the market. Watching the dumpster fire from the outside is much more fun than being part of it.
Always great content
I’m not touching anything until prices reach 6% above 2019 values. I’ve no intention of becoming someone’s bag holder.
tell that to your employer that hasn't paid you enough over what you earned and lost in the last 5 years.
@@raymond_sycamore Huh? I’m self employed, a prolific trader, and I’ve flipped three houses in the last three years. I’m a savvy buyer, Raymond, not some rookie to the markets.
You will be renting for the rest of your life.
@@onlyfoolriding8223 spot on.
@@onlyfoolriding8223 Man, you realtors are relentless.
The prices are too high not the rates. Prices need to fall significantly before home sales recover.
Why didn’t he mention the change on new listings this week? Because they increased?
a crazy spike in supply now that a few people can finally afford to move!
Totally ignores the elephant in the room. “If it’s not rates it must be seasonality.” It couldn’t possibly be the *****!
Until DR Horton / Lennar etc drop their prices 30%+, then avoid buying new. Over pay as most have since 2022 and you will never have any equity in your home. You know what you get with a $425k mortgage? You get a $2700 per month payment. 90% of Americans can not afford this.
Buyers are out! It's done!
I hope so 🙏🏼
Buyers don’t care about the rates now. The FOMO buyers bought, the few who could afford purchased, and the vast majority of buyers are just sitting on the sidelines patiently waiting.
The problem with all bubbles always is that you do run out of greater fools at some point. The buying has stopped, but so has the new inventory in many (but not all) places. I'm convinced that there is absolutely a metric ton of pent up supply out there, especially in California, but some "invisible hand" is keeping that supply off the market. And it's not just the lock-in effect, there is definitely something else contributing heavily to the dearth of units on offer. I have been using my hometown of Hawthorne CA as a barometer for over two decades now. In normal times, available inventory would/should be about 140 homes. Now it's around 56 and it has been for ages. 27 homes or so was the ridiculous low set around 2021...in a town with 86,000 residents! When/if the inventory in California doubles as it should, there's going to be a deluge of negative equity in the entire country. Well, who knows, maybe the Chinese money can keep this charade going on forever?
Patiently waiting for what though? Prices to decline? Just isn't happening anytime soon...
@@peaslead Then go ahead and purchase as many houses as soon as possible.
@@Ja56780That is the plan!!
Been going to open houses and there are 0-3 people. And these are on houses priced really well.
Location?
@@afsharlady Seattle Metro
Same- Charlotte, Lake Norman area
@@Abdul-nt9uk Where I live in Miami, Fl a neighbor was selling their townhome. There was an “open house” a few weeks ago. The realtor was standing by the entrance of the community and not the actual house. A few hours later I peeked outside and he was still by the community entrance and not near the actual home for sale. It seems like no one went to see the home.
Houses priced really well? What country?
What can we do about the hair?
This guy is always wrong
Pump it! Pump it!
I'm new to trading, and I've lost a good sum trying out strategies I found in online tutorials. I would sincerely appreciate any recommendations you have.
I suggest Miss Mary Gail Benner is extremely good on that. She is really good at what she does, Now I can pay so many bills because of her help.
This is correct, Mary’s strategy has normalized winning trades for me also, and it's a huge milestone for me looking back to how it all started..
Please educate me. I've come across this name before. Now I am interested. How can I reach her?
It doesn't matter if you are a current hodler or a newbie. You can capitalize on the fluctuation of Bitcoin by trading with good strategy/signals
She's on Facebook