Florida housing crash just got worse. 40% reductions on houses.
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- Опубликовано: 27 сен 2024
- Home values on some listings in Florida have plunged by 30-40%. With pandemic appreciation levels wiped away. As the Florida housing downturn gains steam in 2024.
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Home buyers in Florida have stopped purchasing due to a big increase in insurance and HOA costs. The result is that the number of homes for sale in Florida has skyrocketed, while price levels are now going down.
In aggregate - prices are only down about 5% in many of the top real estate markets in Florida, including Tampa, St. Petersburg, Miami, and Orlando.
However, there's more and more listings popping from desperate sellers where values are down 30-40%. Suggesting that the future of home price movements in Florida could continue to move down.
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There's a large disconnect between what I'm observing on the ground in Florida. And what the aggregate data is saying.
Many listings are now showing huge 30% drops. But aggregate price levels are only down 5%.
Suggests to me we'll continue to see a worsening in the reported price data from Zillow/Realtor in future months and quarters.
Access the data for your city and ZIP code on Reventure App: www.reventure.app
Anyone who believes the nationally reported data about the job/housing market at this time is just an idiot or lying to themselves
How does the corporate owner like INVH insure the tens of thousands of homes they own in flood/hurricane prone areas? And what effect will an event have on their stock prices?
Do you know about Co Star who owns loop net and ten X and others ? Would you consider commercial data and sales related information regarding property and businesses?
What are you seeing in The Keys? Please do a video down there (upper-middle-lower).
Love the channel Nick! Keep up the good work!!!
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Exploring the world of the most important ways to pay for things and transfer assets to the locals in my community and also support God's work….🇺🇸
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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 want 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.
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.
@@hasede-lg9hj Impressive can you share more info?
Impressive can you share more info?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
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.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
"Rebecca Nassar Dunne" 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 an online search on her name and came across her website; thank you for sharing.
The house for 336K is probably worth 220K. Still too much. House has to be sold at a price people who live in that state can afford to purchase. Otherwise the property is overpriced. And once you add in the insurance problems in Florida....much of the state is overpriced .
Home insurance and mortgage rates are way higher than 2019, before the pandemic. Incomes barely moved. Prices have to go way lower than 2019. Usually overshoot on the downside.
@@AjitMD Totally agree.
Try $190K. Those houses are basic and mostly garage. I work in an industry where, for four years, I've been trying to tell anyone who would listen, to wait. Just wait. Don't rush to buy.
@@Markham12thcentury I think we are headed to a bad recession or worse. $5T Covid money fed to Wall Street mostly, drove asset prices including housing, stocks, etc to unrealistic super bubble levels. In some areas house prices 3x 2019 prices. Most used borrowed money. As usual we are likely to get another crash.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Carol Vivian Constable' maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Yes happy to see it. But let's get to 50% price cuts and take it national. DO NOT OVERPAY‼️ 😊
Needs to go down 100% to make affordable
@@erikbusenbark4865yes. Give me The immigrant discount. 100% free housing.
Will never happen. Real estate will remain relatively stable.
Until it doesnt
@@FeelingPeculiar sheeple were saying same BS narrative 2005-2007 but you likely were not yet a bill-paying adult those years
oh wow, so guys, are you telling me that an asset like a HOUSE, a TANGIBLE ASSET, A LITERAL SLAB OF BRICK/WOOD/AND OTHER MATERIALS, does NOT appreciate 100% in less than TWO YEARS?!?!?
no way!! I would never have imagined!
😂 yep
Fools gold 😂
It does if you live where I live in Florida. House doubled in value in just a few years.
@@kenshinhimura9387 Only if you find a sucker to buy it.
There's a lot of sucker's out there apparently
people on average make about 30k to 50k a year in FL, so even house prices being cut down to 300k is not enough. We need to start seeing 150k to 250k price ranges
Exactly
Also factor in Outrageous
Insurance and property tax 😮
After election (selection) big bank Bailouts & evicting begins. Will immigrants get First Picks? I am waiting until after election to buy.
That’s not what they want though. They don’t want those people living in FL. I don’t know who is going to serve all these paper millionaires.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
That's really interesting. My portfolio is getting smaller; how can I get in touch with your asset-coach?
Her name is “Jessica Lee Horst” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Prices in Punta Gorda have gone up 100% in the past 5 years so 30% seems reasonable start to the correction.
35% is still a transfer of wealth to the old generation.
Let me know when it goes down 80% so the young can build wealth.
@@keyisersoze Never!
@@desmomotodesmomoto2033Residential real estate will go down like commercial real estate, just later.
Do you know why? It takes a little longer for homeowners to realize homes are not assets but liabilities with no earnings.
Then they can stay there forever. No one wants their vacant houses.
They can pay instead.
@@desmomotodesmomoto2033 plenty of sheeple said “Never!” in 2007 as well
It's not just rates or prices, it's the cost of home ownership (insurance, taxes, maintenance/repairs).
Yep
The insurance costs in Florida are higher than my mortgage in Georgia.
I suspect Floridians are lowering prices just to get out. The property taxes are another problem not to mention HOA. Good luck to all of you and I hope you can get out.
@@parkershane1815just go naked.
Yep, home prices need to drop by alot because the current prices compared to wages AND inflation is way out of balance. People simply can't afford the PRICES of these homes on top of all their other monthly expenses, it does not matter how much you cut the rates. The prices need to go down. Utilities, HOA's, insurance, property insurance, groceries, car payments, credit card high interest rates, ect.... are MONTLY bills. People only have so much money to shell out every month. Our wages are WAY behind the cost of living. Things need to come into equilibrium again.
A 40% price cut can still be too expensive, not to mention the fraudulent property taxes on many of these places is absurd, that's not even including HOA and homeowners insurance. In many cases you could give these homes away and there's people that couldn't afford it.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Especially in states like California.
Keep renting
is insurance mandatory?
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
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 Jessica Lee Horst for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
It's absolutely brutal in NH/Maine. Home prices up 90%+ in 4 years. Rent surge as well. Lots of families struggling.
I went on realtor and there was a bunch of homes under 200k in New Hampshire
@@xro1983Where? All the jobs are in the southern part of the state.
@@xro1983 There are no jobs where those houses are, and the 200k houses need 100K in work, or they're seasonal.
@@xro1983you think you know more about the area that they live in? 😂
@@AnonymousPerson0182 no but I found affordable housing. Now they moved the goal post to yeah it’s under 200k but it needs 100k worth of work. Some people you just can’t win.
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Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
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You trade with Victoria Wiezorek too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
The first time we had tried, we invested $1400 and after a week we received $5,230. That really helped us a lot to pay our bills.
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?
Dealing 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.
In challenging market conditions, it's not about mistakes; it's more about lacking the expertise to thrive. During such times, seasoned individuals who weathered the 2008 financial crisis are best positioned to foresee substantial gains.
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.
‘Grace Adams Cook’ , my CFA, boasts a stellar reputation in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking financial market advice.
Thank you for sharing, I must say, She appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.
To be honest, they can drop the prices by 60% and it won't be enough. Median housing needs to roll back to under $200k. I'm in Tampa Bay, where the average household earns $70K per year, and the banks require a $106K income to qualify for the AVERAGE priced house. If that's not an enormous bubble, I don't know what is.
Average household 70k? That means most are way over $150k. Link to facts
This is a bad thing? It just shows how wacky the whole thing was. It's an auction market, when prices rise to levels where bidders stop bidding then prices will naturally fall. There is no magic here. All markets correct eventually. Bubbles don't generally end well. A few years ago, it was Tulip Mania in housing, this is just a natural reversion to the mean to more sane levels.
The big problem is that these home values inform the debt & risk levels of our core lenders, which influences how every sector of our economy functions. So when these values tank, productive businesses won’t be able to get loans our economy depends on.
Losses to institutional investors will be reflected in stock values.
This will compound the rate of decline, with additional downward pressure from owners who bought homes on Securities Backed Mortgages. These are free money when stocks are up, but essentially are infinitely variable interest rate loans. It’s going to fall HARD when it goes.
It was irrational exuberance propped up by a speculative bubble. We were told that homes worth 200k were suddenly worth a million dollars, and we believed it because investment firms with deep pockets were willing to bid prices up to that level. Now reality is just setting back in.
@@benclemens8370 Agree with your big picture assessment but to get back to more normal historical levels things have to correct and when things correct its going to be painful for investors and the economy. Kicking the can down the road only makes things worse when it actually happens.
Like to think that will happen in Vonore TN
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I've seen different people talking about this Stacey Macken she must be very amazing for people to talk this good about her.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well
That woman has changed my life for good. I attended her investment class couple of weeks and she's the best when it comes for guidance
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In San Diego. Listing prices still amaze me. Tiny hoarder house, near freeway, small lot, bad neighborhood, priced over $600k. Price reductions after crazy price increases. Crime is up, homeless everywhere. Insane.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
The insurance companies won't insure them. HOA's gone crazy. No one will pay anything for them. The true value is zero dollars.
Basically.
HOAs are evil, 'mkay?'...
Inflation benefits the government. the higher the price you pay for things the more taxes the government collected. The key to success is finding a set of rules you can follow consistently. I make an average of $15k per week even though I barely trade myself.
Everyone needs more than their salary to be financially stable. Investing it with a reliable source is the best.
That is true my dear, Investment is the best idea presently and without it human struggles are worthless.
Things appear strange right now. The value of the US dollar is declining due to inflation,As someone with retirement funds I'm concerned about the impact of inflation on my savings.
To be honest, investing is a smart way of securing your family future, grow wealth and beat inflation.
My portfolio has been going down the drain while I try on my own, I just don't know what to do,is there anyway I can reach your mentor?
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments.
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence.
Investing is the key. So you need to earn enough to save enough to invest enough to stay ahead of inflation and later live on interest, while always keeping the principle growing faster than inflation.
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I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
*Inflation is far more harmful to individuals than a collapsing stock or property, house market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.!! imagine l invested $2,500 and received $6000 in 4days.*
The crypt0 market is bringing a different revolution in the world economy. People who are optimistic investor will earn consistent why the others will sit back and watch.
I combat the negatives effect of inflthinkation, it's a good idea to diversify your portfolio across different asset classes, since this can help protect your portfolio against inflation.
I've heard testimonies of people accruing huge return during recessions.
I would really love to know how much work you did put in to get to the stage..what are the strategy?
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Is there anywhere I can get across this woman for a startup???
Houses are not like stocks, you can't just sell with the click of a mouse.
Yet*
Try Arrived Homes.
The way big corporations are going around and buying entire neighborhoods sight unseen we're pretty close to that.
You could 2020-2022
@@jw4451 That was yesterday, now they selling.
Housing crisis triggers a market crash or a financial crisis, it could send shockwaves through the stock markets worldwide. I’m worried about my investment of over $600K stocks. Is this a time to consider diversifying my portfolios?
If the housing market takes a hit, it might lead to reduced consumer spending and overall economic instability. I advice you consult with a professional about your investment portfolio to enable you to take advantage of the downturns.
The housing market has always had its ups and downs, but it's true that this time feels different. Having a portfolio manager will save you a lot in the market. My coach has helped me expand my portfolio by 200% over the past few months.
this is all new to me, where do I find a fiduciary, can you recommend any?
There are many independent advisors to choose from. But I work with Laura Grace Abels and we've been working together for almost four years and she's fantastic. You could check her if she meets your requirements. Just research the name. You’d find necessary details to work with
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
All home prices in America have been fraudulently propped up. So prices should drop everywhere despite inventory levels. Prices must drop everywhere!
For someone with common sense understands that prices are Inflated by at least 60-100%
💯 %@@stevehas1861
I hope prices drop.. I have family that lives in shittsville Kansas and prices there are insanely high. Shittsville is not a good area and still overpriced..
Exactly. The prices are ridiculous.
The false low inventory narrative had been going on since 2017 and maybe before then. As the pandemic gpt worse the housing market lies got put it on steroids, because buyers back then were willing to pay anything to get out of their cramped quarters. It was pure lunacy!
I live in Austin TX and just saw a home selling for $559,000 15 months ago asking $399,999 last Friday. Austin is crashing so fast it boggles my mind. Think about it. Google, FB & Oracle have all pulled out or soon leaving Austin. All the wealthy techies are selling their homes and are now lucky if they will break even. So way more inventory than buyers. Plus rentals also dropping big time. No builders could have ever predicted that the largest tech companies in Austin would be leaving. I am waiting for Austin to drop another 20% before I pull the plug. Luckily I am a cash buyer but if stock market has a correction, I may pile all my cash back into market to make another 20% if the time seems right.
@swagic8452 your biggest mistake is trust the value of the dollar itself, which lost 20-25% of its value in the last 4-5 years. The dollar will not last forever, no currency has and none will. If you look at all the major crashes, it's taken multiples to fix, and the next I predict based off the current velocity of the dollar will cost $50-$100 trillion dollars, and the inflation that money printing will cause will cause hyperinflation. The poorest in America will be millionaires, middle class billionaires, and the richest will be trillionaires.
What’s the address of that house so I can look it up?
Where are the businesses going?
I will cosign this. I live in round rock and have seen some houses fall from mid 400s to mid 300s over the past year or so before finally selling
@@Houstonbeach Too many to lookup. Go do your own research. WTF would I lie about this?
Still over-priced even at 2018-2019 prices. And property insurance costs are insane.
Still Overpriced in Orlando
I think that he is cherry picking very specific locations, to back up his theory that he’s been saying the housing market is crashing, to drive views, which drives income. Anyone who lives here in the major cities will tell you housing is unfortunately stabilized, and not going down. There is no crash in most major areas in Florida.
Good point. I noticed the same thing. He keeps saying prices are crashing but you look up houses and prices and I don't see anything of what he's talking about. Prices are holding steady and going up. I think he finds a listing by certain seller that over lists their price way above market price and then the seller realizes that nobody is going to buy their house at that price so then they slowly lower the listing price until it hits Market price. And then this RUclips channel says look the prices are crashing but If you list a property at the market value right away it'll sell.
The main way this RUclips channel makes money is off of its views and then also of their website and app
That’s what we need a return to 2018-2019 realistic prices
Absolutely…..back to “normal historical values”
No 2008 prices
Prices were way too high at that time.
@@Scotpatriot 2008-2099 would be more “normal.” And needed.
@@rodcoulter997 I’m talking about a correction to 2018 prices immediately then if down from there great
HOA Insurance and property tax has killed Florida
But they have no STATE TAX. 🤣
@womblestacker7993 Stay out of the HOA, solves that problem. Property tax is similar to most northern states, so no real appreciable difference there. Insurance is the big difference.
It’s happening in Central Texas too. A mansion on Lake Travis that was oversized at $5 million just had a price cut by nearly half a million!
Isn't it great that our tax system is designed so that if your an investor and you take a loss on a house, you can write it off on your taxes. If your a homeowner and take a loss it's your problem. There are all kinds of tax advantages if you are an investor, denied normal homeowners.
Nailed it
Investors can only offset those losses with gains from other investing activities, not your regular W2 income. Normal home owners can do it too . if they have any gains from investments.
The current trend where real estate agents operate investing companies and purchase large numbers of homes is creating a significant issue in the housing market. By holding onto these properties, they artificially inflate demand and create a perception of low inventory, which can drive up prices unfairly. This practice raises a serious conflict of interest, as these agents can manipulate the market to benefit themselves and their companies. Just as stock trade deals are regulated to prevent unfair advantages, similar measures should be implemented in the real estate sector. Real estate agents should be prohibited from owning investing companies to ensure a fair and transparent market for all potential homeowners. This change is crucial for maintaining the integrity and fairness of the real estate industry.
If it's your primary home and sell it sith a gain you likely pay no tax so don't complain
Something is definitely up. Drove around Austin today and noticed businesses that have been around since I moved here in 2002, closed.
Very eerie feeling in some parts of town.
Californication!!
All these cities that you mentioned are cities that have nothing to offer, but over population, over priced homes, pollution, and a declining quality of life.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Patience is a reward
Always
These videos never tell the real tale. Some of the people in Florida bought their homes for like $50-80k. Zillow is the one that spikes the prices and in suite other sellers do the same. If you are buying a home you can always go back to the previous selling information and always negotiate. Also don’t buy homes in HOAs they are terrible.
It’s not just Zillow. Local taxing bodies inflate the values so they can get much higher tax revenue. These gov agencies get away with it, particularly in FL, because it’s a homestead state. This means that property taxes can only go up a small % per year as long as it is not sold. So the pain isn’t felt by the current owner, or at least, not so abruptly. People who MIGHT buy a house aren’t picketing outside their local taxing authority.
I’ve been saying this for a while! The market is crashing in FL! I’m a Realtor here and I see it daily! I’ve seen prices cut over 100k, on market for 2 years and still not sold. These are very nice remodeled affordable homes in nice areas and still not selling!
Lol why you lying? 😂 prices aren't going down and homes are selling fast here in the Palmetto, Bradenton, and Sarasota areas. House on my street just sold in less than a month.
@@kenshinhimura9387 why on earth would I lie about this?? I’m a Realtor. If anything, I should lie and say business is booming so I bring in my buyers/sellers. Different parts of the state are having different experiences. You’re in a lower cost area than I am. Did you even watch the entire video? Investors are pulling out. Buyers who purchased in the last few years cannot get their equity out of their homes because prices artificially boomed during covid. Between interest rates and insurance, plus lower paying jobs, it is very difficult for people to afford a home here. Once again, I AM a professional. I am licensed and actively selling in 2 states. I can see the difference between those two states so I can definitely tell you it IS slowing down here and many cities in Florida are having huge price cuts and difficulty selling, Cape Coral and punta Gorda being the worst off.
Thanks for discussing Vegas. I agree that prices will not drop in the next 3-4 months. Likely the next year will also see no price drops. We just need much more inventory to get movement for people to relocate. I have been waiting for a couple years now and it looks like it'll take a couple more.
Citrus County(Old Florida) prices not dropping yet, but “days on market” and inventory are way up!
Everyone forgets that before the pandemic hit the housing market was due for a correction
525000 was an insane ask
In my area those homes were outdated, which is even more ridiculous to ask those prices. Half a million dollars for an older, outdated home in a MEH neighborhood, where the locals are priced out of the market. It was bound to eventually pop.
That was 1.2 million just last year
Congratulations on your success. I know you had some battles to deal with by sticking to your thesis. Bravo for doing so!
I think Florida is an exception because of the extra insurance costs in owning a home. This goes for houses and condos.
I personally would not want to buy a home in Florida because I do not want to deal with the uncertainty surrounding homeowners insurance .
Anywhere USA
Housing is always a lag when recession hits!!!
Let them decline. Prices are beyond ridiculous
These RUclips videos with the HOA outrageous assessments and crazy insurance costs are scaring people away.
The problem is that the housing market isn’t falling because of a problem in the housing market but to do insurance and property taxes and HOA fees. Things that are not coming down. Insurance is skyrocketing due to escalating weather events and rising cost of rebuilding. Property taxes may not come down ever even if values come down because the state and local governments may use clever tactics to keep them
High. Hoa fees are needed to pay for needed repairs which have been neglected.
Wrong. Insurance is increasing because of fraud.
House back 2018 prices were still crazy high
If you moved in with family or doubled up with friends during the pandemic because of rent prices and housing costs STAY THERE.
You might be thinking it’s time to get a place of your own, and you really hate sharing a bathroom, but DONT give in.
Wall Street real estate investors picked our bones clean when we were at our most vulnerable during the lockdown.
They don’t deserve a bail out, and the government NEEDS to be sent a clear message about just how hard you can push hard working Americans before they give up.
@@geocam2oh no! Wouldn't want any anti-capitalist sentiment as wealth disparity continues to accelerate, better to just grin and bare it.
Do you honestly think the government gives a flying flip about "hard working AMERICANS"? Sending billions and billions to foreign countries, inflation going up every day, taxes going up as officials give themselves raises, money printing at an all time high, cutting our oil production causing us to buy from other countries, depleting our national fuel reserves, keeping our border open, need I continue? We can't depend on our overinflated, greedy, useless government for anything beneficial. The power is in WE THE PEOPLE. It is we who are spending the money. If we as a whole would band together we could influence any market we chose. Cooperation and organization is all we need. Ok, maybe not all we need but certainly fundamental.
what does the "government" have to do with Wall Street real estate investors? It's as if you want MORE state control. Commie.
In naples they try selling you a house built in 1950 that’s a 2/2 for 1 mill 😭😂
Only a fool will buy a house like that for 1ml.
I just looked at a home in Oklahoma that sold in 2022 but they have it listed for $30K less than the 2022 price. I plan on offering $50K-$60K less than the listed price which means that if they accept my offer, the home will drop by 34% in value from the 2022 sale date. Most people have to go back to work for 2-3 days a week, and they can no longer live in Oklahoma which is driving prices back to the normal 2019-2020 level.
Best of luck. I live in Austin and about to start doing the same thing offering prices 30 to 50K below listing price. They will be there in 6 months anyway so they might as well take the money now. Austin market is crashing. I just saw a home that was listed for $559,999 15 months ago asking $399,999 this past Friday. I hope you score your new home🙏
Awesome!!!
What’s wrong with that Oklahoma’s job market? 2-3 days?
You might want to go by 2019 prices as it may still be overvalued even at 34% drop.
@@ReiShirouOfficial People moved to Oklahoma because Tulsa County paid people $10,000 for remote workers to move to Tulsa County. Now many people have to go back to work 2-3 days per week in the office and they live hundreds of miles away from their jobs. They can quit their jobs and try to find one in Oklahoma or sell their home and go back to where their job is located.
Homes doubled since 2019 so 40% is nothing.
If $100,000 home double that's a 100% increase to 200,000 a 40% decline is 80,000 80% of the increase if home prices drop 50% that literally eliminates the gaines that's all I'm hoping for
@@dans864 Ya it's amazing how many people don't understand that. If homes went up 40%, you don't need a 40% price cut to get back to where you were. That would actually take you lower than it was originally.
Even a 20% drop in current prices would get us close to affordable again. A 30% cut and the problem is basically solved.
Las Vegas resident here. It’s ridiculous inventory is still so low here but I’m renting and being patient. It’s only a matter of time when more houses will be available.
Why would anyone pay hunderds of thousands for a house. One hurricane and it can be destroyed.
Live small. Enjoy your life. Leave the stuff in the stores.
@sidthekid79
I'm talking about houses that cost 300, 400, 500 thousand and up.
Just to live in a certain zip code.
That's just CRAZY.
Live small.....nah. live. Have fun. Spend money while it's still worth something. Tomorrow isn't guaranteed.
If a property is overvalued, there's no price cut when the price is reduced. The best way to buy is to check the Appraiser's or Tax Collectors Websites to learn how much the property was last sold for. From there, you can learn what the proper price for the property should be.
Who wants to live on a swamp with angry people?
Who ever said they were angry?
You can say that about any part of the country “who wants to live 8 months in darkness and cold” …. Who wants to live in a “desert” ….”who wants to live in a tectonic plate” ..:. “Who wants to live next to politicians” …. 😂 reminds me of spots when they describe soccer as “just kicking the ball” or football as “big man crushing into each other” ..,. Anything can be described as negative
GREED !
Maybe they are not angry, but instead the people who think that way are just weak and fragile.😢
@@Yui789esssYep! We have ro choose our consequence just as much as the benefits we want in where we reside.
naples here. condos arent moving and you can talk down price. houses prices are still stubborn. condo prices are suffering from skyrocketting HOA fees, property taxes and special assesments related to new law requiring HOA to shore up reserve
You can't give condos away in FL. Desantis needs to do something because it's criminal seeing seniors in their 70s, 80s & 90s on fixed incomes being forced to move from a condo they lived in for past 20 or 30 years, maybe longer. . The stress on these older folks is going to kill many of them. Plus the only friends they have in life are the people in their community. It makes me want to cry knowing how much these folks are suffering. State & Federal Government needs to help these folks out. It's so wrong what these people are going through. I pray for these people. 🙏
@@swagic8452 desantis will be on the side of insurance co before residence. they want high premium and low liability. that cant be done with old buildings
@@swagic8452 condos are selling here cuz new law does not apply to condos newer than 30 yrs old and up to two floors. two floor condos are selling with negotiation
Naples housing won’t crash
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 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.
Yeah get connected to Miss Sonia, here's her line👎🏻
+186
0300
Nick, talk about how Private Equity and Venture Capital was taking loans out against their own firms to buy up housing and to look like they have carry in their funds. The actual carry in their own funds is coming from loans that they are getting from the fund.
Only the real estate agents, mortgage brokers, and all others profiting from the home sale industry said that the market was up forever. They’re total liars and delusional.
YUP
Exactly
I suspect this myself. Every time you see a housing market story in media, they're interviewing some real estate investor and the prediction is always the same. "Prices are never coming down! Your best bet is to buy right now!" Gee, no ulterior motives there or anything.
But you also have to admit, the people saying that have been right for the last 3 years. I hate to admit that, but it's undeniably true.
I lived through 2008. It is a replay of that just different triggers.
Great Video! You might want to interview the sellers and ask them what has happened and how the realtors are explaining this decline. Interviews are fascinating.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor?
‘’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.
On Vegas, the low inventory is probably people anticipating the boon from the high speed rail line from CA to Vegas
when is that happening
There still talking about that, it’s a 20 year old story.
Still seeing that cali home prices refuse to go down
Good information, thank you for covering Florida!
Building in Las Vegas is extremely restricted which is why there's such a low inventory
Until I see 60% off 75%off
I will stay on the side line.
Hold on to my hard earned 💰 💰 💰 .
I don't care about interest but
I care more about over price home .
Don't want to holding the bag .😂😂
i feel the same way. I don't want to be a slave to a house.
Also, a rate cut will devalue the dollar
I’m in Vegas and have been watching the market closely for about 3 years now. Builders were pumping out houses very quickly until the end of 23. Then they slowed down dramatically to maintain low inventory levels. And this seems to be uniform across all the different builders. It seems to have some signs of a price fixing cartel amongst the builders. Or maybe there has been some local regulations that kicked in forcing the builders to slow. Either way, demand is still higher than supply and prices are way higher than what the median income can afford.
Confidence in the economy and the job market are factors. I don’t know if the majority of people thinking about buying a home are factoring in the wide open border and uptick in violent crime but I am.
I appreciate you finally breaking down the trend down by state.
I live in LV - we do have low inventory and high prices but we have started to see a LOT of new homes with price reductions. I just saw Taylor Morrison reducing price on a new 4br in Henderson by $130,000! And if we hit a recession, Las Vegas is going to crash hard. I'm waiting on the sidelines for now.
Same thing happened in my area. New homes selling for cheaper than old homes, Now the price cuts are starting on old homes and zestimates are going down. It just takes time.
It still blows my mind how most people can't recognize that this housing crash is well underway and just how big it already is.
Same issues around the suburbs of Houston, TX.
Are lots of people still moving to Houston, like they were during the pandemic?
@@KP99 yep. I just moved from MD a year ago. It’s a popular place to move due to social media for content creators and families (like mine) for cost of living.
But house prices are now dropping and they are building too much.
We put ours in the market at 415K in May and sold it for 380K in August. An 8.5% reduction in 4 months. Overall not too bad.
This was in Melbourne FL.
HOA fees, Property Tax, High Interest Rates, HOLD THE LINE DO NOT BUY!
RECESSION IS HERE!
😂
Depression is here. It's just going to get so much worse. Ppl have no idea.
Maybe the face value is that low but the hidden costs are still outrageous. Still not worth it.
What some people refuse to understand is that interest rates have some authority over a home's selling price. It's almost always about the monthly payment.
Talk about other states too. We are done with Florida.
Love your show. Great info
White flight from CA continues in earnest
maybe for retirees but the remote workers are being called back to office in Commiefornia
The prices are still OVERPRICED. There are listings in Florida that still are hundreds of thousands of dollars OVER the assessed tax value. These will never sell.
Way overpriced in Citrus County florida and Climbing!,,Houses are doubling if NOT trippled in price,it's nuts,even old outdated houses are the same prices as new homes which I don't get,who wants an old house for $275,000/$300,000 when you can buy new for that price or less 😩,(around here anyway ,this isn't south Florida lol )
yep building like crazy. Have that Hernando Lagoon by me they are building
Off topic, fellow Floridian here, just wanted to say you’re crazy as heck to be walking around in this heat and humidity right now 🤣
I dont think a fed rate cut will do anything
Makes food more expensive....inflation..
The right channel to come to when you need some home buying relief but nothing has changed just keeps going up😢
Thanks. Personally, I'm shocked that it has taken this long.
Home affordability is the monthly payment. Over the decades[ I am 71 years old] and people always at the peak of the market cycle say the housing/stock market will never go down.
for the people that think there will be a crazy 50% crash, prices skyrocketed in the pandamic because the money supply pretty much doubled in a span of 2 years. that money is still out there. so yes, prices will go down, but not as far as you think
That money isn’t in the hands of the people, for the most part. Housing fomo is over. Sellers can ask for any number they want, don’t mean it will sell.
ok so how far Clyde?
This is why people who can afford to stay put don't sell.
@@tobyk5149 my guess would be 20%. As interest rates come back down institutional buying will pick back up
Vegas in May showed 3800 SFH on Zillow, currently 5950 & rising about 100 per week. Seen many listings dropping their price, a long way to go, but the patient ones will be rewarded.
Cash buyers do not depend on rate cuts. I am watching, waiting, and ready to invest in Texas, Florida, and Minnesota again.
I bought my house in 2014 in broward county, Fl. Ive grown financially in the past 10 years. What sucks is that if I was in the market for a house today, I could not even qualify today for the same exact house I bought 10 years ago. It’s a sad day but something has to give!
Boomers are passing away (with all due respect) population is decreasing. People don't have kids to take to FL. Gen X is not a big as the Boomer generation. Inventory through the roof. Prices have way more to go in the next 10 years. Insurance is through the roof. More bargains in a couple years, especially if we have the great recession 2.
The boomer peak for their demise will be in late 25 to early 26. It may be another couple years after that when prices settle in regards to only that effect. Population drop after that is becoming more of a reality
Prices will fall like rock in the next 2-3 years
For me to buy in Florida, taxes and insurance need to come down 50%. Call me when that happens. Question...Florida property taxes have increased 2, 3, 4 fold. Where have all those millions and millions in extra property tax revenue gone exactly? Local and state politicians pockets? Certainly not new roads, bridges or schools. We would see those and we don't see them.