Blackstone is liquidating properties in Florida. “For sale signs are everywhere”.
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- Опубликовано: 7 сен 2024
- Blackstone is beginning to sell their housing portfolio in Florida, particularly here in St. Petersburg where the inventory of homes for sale has spiked in the last year.
This house behind me in this video is behind sold by a Blackstone-owned company called Home Partners of America. They bought it in August 2022 for $380,000 and now they have it listed for $370,000 - at a $10,000 loss.
Other Wall Street investors are also now selling homes on the US Housing Market, including First Key, Progress Residential, and AmericanHomes4Rent. The reason these investors are selling is because the local rental market is softening and because inventory is exploding.
Home prices in Florida look like they are on the way down. Especially in a market like Tampa-St. Petersburg.
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3 weeks ago I showed you First Key Homes dumping a house in Punta Gorda at a 25% loss.
Now we have Blackstone selling a house in St. Petersburg for a $10,000 loss. I spoke to the local realtor here who said this is one of many that they are selling.
Meanwhile - inventory in this ZIP code is now almost double the long-term average.
Florida is going down. And going down fast. Many locally here though, amazingly, don't know it. Many people I speak to think prices won't go down (even though they are already going down).
Will be a very interesting second half of the year in Florida.
Thats what worrys me here too...
I am interested in how 2026 will be in Florida, I imagine we will have much more reasonable prices again.
For all you HOA haters, love the RV in the front yard look in the neighborhood Nick is walking.
I've lived in st Pete for 14 years... I've never seen so many places come on the market in such a short period of time (Jan 2024).
I help a lot of people all over Pinellas County and I see homes on the market surging, but not selling.
Will THEY RE BLOW UP ANOTHER BUBBLE. >>> AGAIN!!?? 08s, 2020s and no what???
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 advice but get buying, cash isn’t king at all in this time!
@@Jamesrobert627 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.
@@BrandonRichards21 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?
@@AlfredStephen127 The decision on when to pick an Adviser is a very personal one. I take guidance from Claire Robert’s Durand to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@BrandonRichards21 I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
A $10,000 reduction from $380,000 is comical. If Blackstone really wants to unload this property, sell it for $200,000.
FFS I wouldn't pay more than $125k for that crap box.
That's too much! About 125,000!
@@faithsrvtrip8768 this is just the start, wait 3-4 more years then it will be 125k
They are all liek this lmao. 2 houses are for sale on my street (5 houses total), so I decided to check on some properties. First one I looked at is reduced 10%, asking $650 when they bought it for 450 in 2022.
It literally has not even begun.
Exactly!
In 96 my mother worked for $11 an hour 50 hours a week and was able to get a 48k mortgage on a 1600sqf home from saving $200 a month for 2 years.
Now I make $21 an hour 55 hour work weeks and... I live paycheck to paycheck in Lowe income government assistant housing because renting anything else would eat 2/3 my paycheck. I'll never afford to buy a house
@@CaressaWillian
I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Abby Joseph Cohen. I am at $128k right now and LOVING that you have to bring this up here
@@CaressaWillianHow can i reach this abby Joseph Cohen, if you don't mind me asking?
@@PoshanMind
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
At least you have a means to survive. A lot of people don't have that. Waiting lists are years long for that government housing. You are doing the best you can in this environment. You can take as much pride in that as your mom in buying her house.
@@CaressaWillianThe thing is people often doubt the prospects of financial advisors like Abby Joseph Cohen in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word
Prices need to drop $100,000 to $150,000 for them to be affordable for the average person.
In SoCal, we need them to drop $400,000-500,000.
A lot of buyers need to lower their expectations, too. When I was young, families of six lived in a 1,000 sq ft, three bedroom, one bath bungalow. No granite countertops, no "master suites".
@@AFAskygoddess they get piper down hence immigration
@AFAskygoddess do u still live like that or did u get with the times
@@mi-da2920 In California, you need them to drop 110% and pay me and I won’t go there
Because so many people overpaid for homes during a period when interest rates were low, I believe there will be a housing crisis because these people are in debt. If housing prices continue to fall and, for whatever reason, they can no longer afford the house and it goes into foreclosure, they will have no equity because they will not make any money if they sell. I feel that many people will be affected by this, especially given the predicted mass layoffs and fast rising living costs.
I recommend investing in shares to balance out your real estate assets. Even the toughest recessions can give wonderful purchasing opportunities if you are prudent. Furthermore, volatility can create wonderful short-term buy and sell opportunities. Although this is not financial advise, you should buy right now because money isn't king right now!
You are correct. With the help of an investing coach, I was able to diversify my 450K portfolio across markets, and I was able to create a little over $830K in net profit by using high dividend yield stocks, ETFs, and bonds.
Would you mind sharing some information on the adviser who assisted you? Since the age of 18, I've been saving for a pension through a company program. As I became more taxed, I enhanced my workplace pension with a SIPP (tax advantages). I'm now 50 and would like to aggressively grow my wealth; there are a couple cars I still want to drive and mega-vacations I still want to take.
Her name is Annette Christine Conte can't divulge much. Most likely, the internet should have her basic info, you can research if you like
Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the stock market.
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.
Rachel Sarah Parrish 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.
Does anyone have any idea which stocks may be experiencing major growth this new year season? A lot of people have been talking about an April bounce. I recently sold my Boca Grande, Florida, house, and I want to invest a lump sum before equities recover in the stock market. Is now a good time to buy or not?
yes, transportation and e-commerce among other sectors are expected to experience growth, but who knows, the market has been a basket of surprises.
I was left holding worthless positions in the market in 2020 because of these market uncertainties, which is why I don't base my market assessments and decisions on rumors and hearsay. Before I started noticing any noticeable improvements in my portfolio, I had to fully redesign it with the assistance of an advisor; I've been working with the same advisor and have scaled up to 750k
True, we’re only just a piece of information away from amassing wealth, I know alto of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides you help?
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.
500k for a house with one bathroom is insane
Location. Location. Location.
Speculation, speculation, speculation
St Pete is due for a 40% hair cut
@@shanerogers9386inflation inflation inflation. Gotta pay trades more and more as cost of living goes up and up
Tiny homes are selling in my area for $800k. Absolutely ludicrous!
I bought a house in a run down neighborhood in Jacksonville in 1984. The neighborhood has gentrified. For several years I got dozens of calls a week from people wanting to buy my house, sometimes as late as 10 PM. I got letters from "young couples in love with my home," who wondered if I would give up my home for the sake of their happiness. I could not be happier that the bubble is bursting for these investors.
Stan, I also am thrilled to death that the bubble may be bursting for investors. Our young generation needs to get on the ladder of home ownership - be owners, not renters
@@macpduff2119they will all get the chance a year or 2 from now
Market won’t correct for at least a year from now if not several
Yeah. Those aren't "couples in love". Those are investors. A real couple would knock and negotiate. "Keep my number in case. Have a great evening!" 👍
They could keep the houses on their books if they can't sell them, and then write them off on their federal income taxes.
When investors bought up houses by the thousands they drove up the prices. Now that keeping them is is no longer profitable guess what's happening.
Nothing is happening houses keep going up
They dump them back on the deplorables
I have a friend who bought his house in 2005 for a little over a million dollars. He sold it 14 years later for $835k. Timing is everything.
That is so unlucky, I'd be curious where that house was in 2022 in terms of price... If someone tried to resell it within this last cycle....
@@zlatkojerkovic9456 oh if he had waited it would have made a big difference. But that's the point. No one knows
@@zlatkojerkovic9456 If he had waited it would have made a huge difference. Unfortunately no one knows what the future will bring.
just sold a property in Texas and I'm thinking to put the cash in stocks, I know everyone is saying its 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
true, despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately 950k that same year. In reality, all I was doing was getting professional advice.
how can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. who is the driving force behind your success?
I'd say a little due diligence on "Jessica Lee Horst" truly exceptional..
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. I reached out and scheduled
I'm eagerly anticipating a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also thinking about investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen substantial trading profits, but there are worries about the market's instability and the possibility of a dead cat bounce. Can you explain why this market phenomenon happens?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not making mistakes; you just don't have the know-how to profit in a tough market. In such challenging times, only highly experienced individuals who went through the 2008 financial crisis can anticipate making significant profits.
Lately, I've been thinking about reaching out to consultants for advice. I'm at a stage where I could benefit from some guidance, but I'm uncertain if their services would truly be beneficial.
Desiree Ruth Hoffman, my CFA, is well-respected in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking guidance in the financial market.
Thank you for this tip. I must say, Desiree appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. 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
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for the recommendation. I'll email her and hope to get in touch soon.
When prices drop about 50 % , then I will be a potential buyer.
For houses like that first one, maybe aim for a 70% drop. That one was built in 1955 and is a concrete block house, probably full of mold and originally sold for $15,000.
@@OneWildTurkey That's my problem. I spent 2 years looking for a good house in Tampa-St. Pete with a developer friend of mine. Any house built before the late 1990s won't be anywhere near current hurricane code and will almost 100% have mold and plumbing issues or need a new roof. Once we calculated turning that into something worth selling the margins were thin. It only got worse since then. Places to build new houses were almost as expensive per plot as the full price of building the house. I'm going to buy some land and build my own home in north GA in a few years and I will have acreage a manufactured home and a conventional built home for the price of a 1/4 acre plot and an old 1400 sq ft house without a garage in the bay area.
The problem is if prices drop by 50% it will be part of a huge economic downturn. Depending on your situation if it does you may be unemployed and not be able to buy it anyway. Be careful what you hope for.
Same here. And I have cash.
If you can qualify for a loan when prices drop 50%, or are you paying cash?
While lower to middle class families were struggling to afford homes, all these investors snapped up properties and raised prices and rents. I just can't feel sorry for the greedy investors!
yup
Don't forget the majority of investors are mom-n-pop investors. They are too blame even more than Wall Street. Don't forget!
The real laugh is on those who bought the AirBNB nonsense
NAILED IT!!!! GREEED GREEED GREEED!!
@@RootBeerGMTyeah the air bnb ones are the worst. They’re literally taking inventory of single family homes to make them into hotels for drunk partying tourists. At least the investors thst rent long term have a regular person in them living full time.
I'm a buyer at pre-covid levels. this heap sold for 150k in 2019.
Bought mine for $145k in 2019. Zillow claims it is worth $239,500. Laugh. Yeah right! 😂
What does this mean for the Real Estate market? Is this a good time to go in or would one be better off with Stocks? Been doing a few research on these options as I had planned on going into one this second half of the year and it seems both are down at the moment
The good old Stocks...There's a reason why people always think stocks when they hear investments.... Of course, you have to be well informed on the right ones or better still, get a financial expert to help you out (that way, you save time and minimise risks). Made my first million few weeks back from the Nvidia rise without having to do much unlike with flipping houses which would take up to 3x the time with 3x the work and best part is no one wakes you up by 2am to complain about a leaking pipe.
none is a good investment these days. the government has made sure of it
@emersonstagnitta65 Nice. This makes a lot of sense. How did you start? How can I get a good expert?.
I don't really understand your first question... For the second, you should start by looking out for those from credible firms and good track records... You should also make sure the person is licensed... Personally, I use Michael, Allen Eckrich... He's good and you could also look him up...
The housing market is currently a mess, Don't go there
Until they drop their prices enough, they are not selling anything.
I know it. It is shocking how much these crummy little hovels are listed for. I would like to see the comps to see if they are selling at all for these prices.
BANKS will be the NEW INVESTORS stuck with so many of these houses
@@InMyBrz Yep and the government will bail them out with printed money.
Really another person on here that lives by their said it already sold so there.
I'm 47yrs old. $75K biweekly and I'm retired, this video have inspired me greatly in many ways!!!!💚
I'm inspired.
Please spill some sugar about the bi-weekly stuff you mentioned.
It's Christina Ann Tucker doing she changed my life. A BROKER- like her is what you need.
I raised 75k and Christina Ann Tucker is to be thanked. I got my self my dream car 🚗 just last weekend, My journey with her started after my best friend came back from New York and saw me suffering in dept then told me about her and how to change my life through her. Christina A. Tucker is the kind of person one needs in his or her life! I got a home, a good wife, and a beautiful daughter. Note: this is not a promotion but me trying to make a point that no matter what happens, always have faith and keep living!!!
< I know that woman(Christina Ann Tucker)
If you were born and raised in new York you'd know too, No doubt she is the one that helped you get where you are!!!!
How can someone get connection to that woman y'all speaking bout !!?
Big money companies will always look for a fool to pay for their stupidity.
Proceed with caution
It's always the naive small money guy holding the bag
Good point. Let’s see what legislation they pass to protect BIG money corps and see how the working class gets screwed.
You are so right.
@@anthonyperrone8083it's about damn time
Blackstone is one of the reasons why there is a housing increase in prices! $400 a square foot for a older home is nuts!
I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs.
Certain ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed potfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
I'm an art collector, this is not very new to me but has a nuance to it. Can you assist me? how do I find a fduciary
Monica Mary Strigle is a hot topic even among financial elitist in lower Manhattan. Just browse, you’d find her, thank me later.
I find 370k for that old Florida style house is kind of funny. In most of Florida, you can't even build a house like that anymore. You really can't modernize them that much. Most are on tiny lots with no room to expand. The majority, by far, have damaged terracotta pipes leading from the house to the sewer or a septic system that's usually in need of repair. Even on its best day, when I was a kid in the 80s, that was a 60k house, maybe 90k in the late 90's. In my mind, it's not worth a penny over 110k. I've owned plenty of these, and the rehab on the best of them is usually 50k. That house, in St. Pete, is way over priced. I'm happy for whoever sold that house to Blackstone for getting out and making it a corporate investor's problem. They'll never, ever get their money back. The write down on that house before it sells is going to be epic.
In-addition several of these homes are not in greatest neighborhood (ie hood), especially in St. Pete/Tampa.
Bingo.
That was a 15k house when it was built
@@nicolewembley3093 100%
Your spot on 😅
Thanks Nick for all the work you do. I’m here in Hernando county and went through the previous crash of 2008. I rented the the home in 2006 where the previous owners who were out of state investors. Eventually I purchased the home from them in 2009. They paid around 226k and I purchased it for 132k. Fortunately they came to the closing table with 50k out of pocket to sell. Amazing it was!! I’ve been here ever since then and locked in a 3% mortgage, taxes and insurance is still low. As I tell many to hold on as it’s going to get rough and deals will be there if you have patience. What goes up will come down and rinse - repeat!!
I tell you this : I listened to this guy back in 2020 when he was advising everyone that a big crash is coming and not to buy! Huge mistake!!
Thank God I bought my place in the end of 2021 when was a betting war but guess what…. my house has a 3.1 % interest rate and it went up in value substantially. Best decision ever !!!
In in meantime his channel exploded and he is making a nice income on spreading nothing more then assumptions like everyone else out there.
Follow your gut feeling I did!!
History repeats. Florida land boom of the 1920's went bust in 1926-28 before the stock market crashed. It's happening again. Love it. Bring it on.
$10,000 off $370,000? What a joke! The property is worth $270,000 at the most!
I wouldn't pay more than $189k
They are so greedy! I'm not sad for Blackstone!
Less. It’s a flood area, bad schools, old house, bad neighborhood…. Way too over priced. Insurance on that would be 4-5k MINIMUM… if not much higher.
Look at the neighborhood 270k is a joke also!
Honestly, would you live in a 700 sq ft house with a stupid carport?
Blackrock was buying a lot of homes in residential neighborhoods here in Mississippi. The HOAs have to limit the number of homes that are for rent. You are absolutely right about mom and pop owning about 10 properties in my neighborhood but they also live here in this neighborhood so they keep up with the maintenance. You can look up the property owners online. The owner of the house next door is a wealthy Chinese investor who owns high scale restaurants. The renters in that house are the workers of those restaurants
Where I grew up thats a $70K HOUSE....
Not relevant. So what?
The fire sale on homes will start in 2025. You will care in 2025 if you’re selling. Nobody has cash to buy a house. The property tax and homeowners insurance in Florida has gone way up.
The market can’t afford it.
@@kathrynj.hernandez8425 Neither are you.
@1eyedwilli3
Same where I grew up.
@@1eyedwilli3 If you come to my town, that is STILL a $70K house or less.
My wife and I have made a game of counting for sale signs when driving. In some neighbourhoods we are seeing like every other house. Some areas 3 or 4 houses in a row have for sale signs. Its very noticeable. Denying this is very delusional. I understand why some people are deluded about it though. Emotions relating to money are very hard to deal with and manage. All I can do is feel sorry for them at this point
Are you in Florida?
Don’t buy homes let the price drop so institution investors loose their pants. Take same approach for the new cars.
Dude. You were literally just a few blocks away from me 😂
This neighborhood looks so soulless, sterile, and depressing-and that’s not even considering the suffocating heat and humidity. How can you stand to live there?
@@RodrigoTechadorthis is what 90% of Florida neighborhoods built in the 50’s to 80’s look like
@@RodrigoTechador That neighborhood looks lush and inviting compared to most of the neighborhoods in Phoenix. Its all rock yards and cactus here. Grass yards are frowned apron and restricted in some HOA subdivisions plus its crazy hot and dry here in the summer.
@@Kawasaki750H2stroke In fairness, I hate Phoenix too. I went out there for a medical school interview, and my visceral response was “not no, but _hell_ no!” It was the most plastic, artificial-looking city I’ve ever had the misfortune to visit. It felt like a Hollywood movie set. There was no sense of community, because every neighborhood seemed to be gated. Even the mobile-home parks were gated! The airport was beautiful and I’d love to hike the mountains, but I’d never live there.
@@RodrigoTechador Yep but it wasn't always like this. I grew up here and it was nice 40 years ago. We didn't have as many crazy hot days and cooled off earlier in the evenings. Today Phoenix is a heat island that doesn't cool off in the summer nights and crime is really bad now with lots of drug addicts. Everyone wants a gated community because of the crime. The air in Phoenix is so bad with the pollution and dust. I would bet its one of the worst places for people with breathing problems.
Hold! Hold! Check what they bought it for and offer 50k+ below purchase!
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Waking up every 14th of each month to $210,000 it’s a blessing to I and my family… Big gratitude to Ann Marie strunk 🙌
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Ann Marie strunk, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $90K 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,, all thanks to Ms Ann Marie strunk 😊🎉
I know a few people that you would call mom and pop landlords and all except one are multi-millionaires.
Three years ago I run away from Florida when I saw 👀 the rise level of water all over. I bought instead in NC. Asheville ❤❤❤❤
0:29 concerning? Absolutely not! this was expected and anticipated. Prices rise 100-150%, everybody parties, but prices fall 2-3%, people start freaking out. Don't worry, about 47% more to go!
My Mom is one of those small investors referenced in this video. She's got two rentals and I suspect she'll do the same thing she did in 2008. Nothing. She'll just keep collecting the rents on her paid off units and not spend much time worrying about the monthly fluctuations in the value of the property.
@@desimo147 Because your mom is smart.
Unfortunately, unlike the GFC, we are about to be flooded with record numbers of rental units and all while the carrying costs (taxes, insurance) is soaring along with inflation... This is not 2008.
And just like 2008, she'll be just fine.
That's the beauty of being a small time investor. Unlike big equity firms, we can buy one off properties and don't need massive returns for it to be worthwhile.
Florida is a unique housing market. The prices went up too fast in the last few years. C0vid didn't effect us. People were fleeing here. I bought a house for $185K in 2019. A year ago, I could have sold it for $350K within three days. Homes were being bought online sight unseen in my neighborhood.
I bought my current home in early 2021 and paid $149 here in Florida and it's currently showing able to sell clothes to 300 which is ridiculous
@i_brought_a_flower , are you in Florida? Did you originally price your home too high?
What slowed down the market in my area is the interest rates. People's first concern isn't how much the house costs.. The primary concern is how much their monthly cost will be if they need a mortgage.
people are fleeing florida
@@SA-hz1rsFlorida is going to crap.. Homeless everywhere. Lots of non citizens everywhere.
First house in the video has a real worth of about $80,000, so it may have a ways to fall😂
You're anchoring to 1990s prices.
Unbelievable how we are all... "controlled."
@@geocam2 Umm.. ok.
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 neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods 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.
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?
Iynne Marie Stella 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 looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
I agree with you completely. Most people are in debt, in distressed, and home insurance prices are way up. I am waiting for 2025-2026 to invest in real estate.
Real-estate prices are not crashing, they are only correcting!
what I see here is that Blackstone bought at the all time high 3 years ago and paid way too much...
prices during the Pandemic were stupidly high and people who bought during that time period absolutely did pay a premium, unfortunately!
Be clever, don’t end up buying their mistakes! Unless it’s a house you’re passionate about & plan on living for years.
100 yrs
I live in Saint pete. You are spot on. For sale signs everywhere. new homes being built on every corner. its wild.
Same up here in jville. They have nearly filled in the entirety of the East side of the St Johns. "from the river to the sea" all the way down to St Augustine, with big budget single family housing and sparse apartment buildings in between. Large population of "new wealth" from overseas that are about to get walloped.
Over building idiots
I think this is only a Florida thing and maybe some select markets; there won't be housing crashes because there has been no real increase in foreclosures. Until that happens, there won't be a crash anytime soon, and BlackRock still has a lot of money waiting to buy housing if the market goes down just a little bit.
The summed it up perfectly. They're licking their chops.
Sidenote: I just went to propwire to check my house info in Orlando and the pictures aren’t even of my house lol 🤷🏼♀️ plus half of the info on the house is wrong, mistakes I haven’t seen elsewhere. I’m going to look into if further, I wonder where they are getting this from?
Great Video - I was born and raised in St.Petersburg , Fl - Great city . 380k for that house is way to high , good area though .
I saw an article on yahoo news referencing your company, name and talking points. It looks like even some of main stream media has jumped aboard. Good Job!
Yahoo News? Yikes
@@MSantucciRealtor Considering that in 2022 Yahoo was using Barbara Corcoran talking points that housing prices will rise forever and creating FOMO, i feel yahoo has progressed in the correct direction, for this particular subject only.
@@MSantucciRealtorYahoo does stocks and finances well now. But if you're not into that you may not know.
That St. Pete property is currently under contract taking back up offers. Also it may be being sold 10k under but it could have been a rental so it may have rented for $2300-$2500 per month. Not a bad return on capital for two years. That area in Kenneth City a municipality within Saint Pete has a little higher tax millage rate.
I don't think that property is actually in KC, just on the line. Kenneth city homes it in their address.
Tampa is a complete swamp. No good paying jobs and hot as all heck
Live in st pete. Every friend I have makes minimum 100k a year around tampa. Sounds like a you problem
@@thatoneguy94512ahhhhh you wanna hook a buddy up with a reference. Damn id like a good job
Yes, but it's a wet heat!
People are flocking to Tampa in the surrounding areas as we speak..... huge influx of people from all over the country!!!!!
@@leedanielson7452 And from all over other countries. Speak Spanish? Learn. Speak East Indian? Better learn that real quick like, too. Maybe Haitian, Somalian but no German, French, English for you, White boy.
Mom and pop owners who bought wisely for long term rent and to avoid risk will HOLD. Rents will stay with inflation generally. And transaction cost of getting out are significant.
This is my concern, Blackstone and others are saying that the prices are going down! Ask yourself the question? Is $10,000!really that much when HOA Dues, homeowners insurance is high with an unpredictable future? I think Blackstone is dumping fast because it will be a greater loss for them!
Yes real estateprices in certain areas in Florida may have been elevated due to corporate buying, but private individuals were still bidding up housing pricing a few years ago, bidding wars etc...now this is the result of this rampant buying.....
Here is the thing about that house you showed. It sold for $155k in 2019 which to be honest for that neighborhood was too much then. In 2019 that is a $100k house all day. For them to list it for $370k is still a massive rip off. That area near Kenneth City and Pinellas Park is not the greatest area.
Exactly!!
Obviously you know the area!
It's ok it's not their money. It's pension and 401K money.
And that is the real scary part no one talks about
I wouldn’t want it for free
@@jarvisaddison8560 absolutely. They are terrorfied to even whisper it.
No that’s Blackrock.
same thing
I can't believe prices are finally going down! My dream vacation home in Lakewood Ranch is currently being tracked, with the goal of acquiring a new home at a more advantageous price point.
Houses will probably never go back pre-covid prices. Remember... Money printer went brrrrrr and dollar value went poop.
Homes have been turned into commodities by the flipper and investors. And commodities go up and down.
Yes, money supply is up ~35% since January 2020, and only the most speculative, bubbly markets have a chance of declining that much. But relative to median income and money supply, home prices are at historically high valuations, so a double digit % price decline in the national average from the 2022 peaks is more likely than not, absent trillions of new stimulus and money printing.
Basically, the price goes up 3 steps in the ladder and then goes back down 1 after, and so on infinitely until wages are left in the dust like that one fat kid in school while playing sports.
I sold my house in Saint Petersburg FL in 2022. I got ahead of the curve. People had a bidding war. I skipped inspection and cleaning out the house. Everyone was desperate to get it so they gave me everything I wanted. I was fortunate. Now I live cheap in TN.
Tn isnt to cheap anymore !
@@txfreightbroker8390 I got 2.26 acres with my house. I paid 130k for it. I spend $300 a year on property tax and 1.2k for a full year of house insurance AND car insurance combined. That is pretty cheap to me.
Hallelujah!!! I’m blessed and favored with $60,000 every week! Now I can afford anything and support the work of God and the church. For Your glory, LORD! HALLELUJAH!
Oh really? Tell me more! Always interested in hearing stories of successes.
This is what Ana Graciela Blackwelder does, she has changed my life.
After raising up to 60k trading with her, I bought a new house and car here in the US and also paid for my son’s (Oscar) surgery. Glory to God.shalom.
I know Ana Graciela Blackwelder, and I have also had success...
Absolutely! I have heard stories of people who started with little or no knowledge but managed to emerge victorious thanks to Ana Graciela Blackwelder.
I've lived in St. Petersburg my whole life, and right now is the hardest time people in the city have had getting by. Most of these prices are propped up by outsiders, like Californians and New Yorkers, selling their homes for three or four times what a home costs here, then moving here and thinking it's a deal.
The biggest issue is, like you said, the incomes in the area nowhere match the cost of living now. Either incomes have to come up or prices have to drop. I agree, and I've been saying the same thing for the past two or three years at least. Florida has raised the minimum wage, but just because the floor is moving up doesn't mean companies are raising their other employees' pay at the same rate.
But if you're still here you should check out the Shore Acres neighborhood. People are selling because of flooding issues and even though it's one of the more premier areas in the city.
It's a race for the exits... been there and seen that... many cycles before (I am so old I fart dust).
My wife has sound a bunch of property in Pinellas County-for 20 plus years. As a broker, she’d tell you-it’s a buyers market-over priced properties are just sitting longer and longer. Listings up, closings down. And it’s till 40% over priced.
It's very odd when the law of supply and demand doesn't apply to prices, right?
@@chadical3151it is not always instantaneous. The housing market is a huge and complex beast.
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires.*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Barry Silbert, has been an amazing experience.
Hello how do you make such monthly?? I'm a born again Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
I'm favoured, $90K 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,, all thanks to Mr Barry Silbert
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?
I could never figure this out you're making 30 is the $50,000 a year and buying a $370,000 home it just doesn't add up
"In 1970, the median sale price of a home in the US was roughly 2.6 times the median household income."
Older boomers only had to spend 2.6 times the amount of their annual salary on a house. $50,000 was the median income in 2023, that means the median house price should be at $130,000.
Careful, Real Estate is Local, Florida, Texas, Arizona, California, Nashville & other Boom Market's are experiencing losses, not other areas like the Metro DC/Baltimore/DC region where I own my home. One Size Do Not Fit ALL !
It's a house of cards though. The great depression started with a land bust in Florida. The GFC started with a land bust in Florida.
In my local area I’m seeing lots of inventory sitting for about 2-3 months now and no price decreases yet
Yeah, housing prices might drop but the insurance and property taxes won't. Thats the problem
The investment firms are always looking for an easy buck they found out what small local investors already knew... it's work!!! Deadbeats, the court system, renter damage, water bills and market shifts.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
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.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
A few homes for sale near me "by owner" all of a sudden have big name realtors trying to sell them
That's why i wasn't that concerned in the first place about these institutional investors trying to profit off the real estate market. It's not going to work out for them, because these companies are used to passive investments, but real estate is an active investment that takes a great deal of expertise.
Been investing and saving to buy a rental for retirement income the past 2 years. It's good to see prices are falling.
People don't understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments don't match our income, yet certain investors still earn over $10,400 in stocks and assets. Wish I could accomplish that...i appreciate Joyce Wooldrigde the lady you recommended..
investment has saved so many families from poverty it's has been the easiest means to save and multiply money because money left for saving ends up used without returns.
You're right Ms Joyce Wooldrigde, guided me thru the process of making a sound financial decision for my family. Most importantly, the lady took the time to make sure we understood every aspect of the transaction until we felt 100% comfortable."
That woman totally changed my life for good. I have come across individuals but non is as honest as she is. So surprise you know her too.
Investing appropriately today can save you a whole lot of stress in the near future so anyone who is not investing now is missing a great opportunity....
How do I contact this advisor please?????, I've been surviving paycheck to paycheck.
Unions need to pull their money out of black stone..
Hard working people need to pull their money out of unions.
It's concerning that these Wall Street investors were allowed to buy so much housing in the first place.
they had bux. they won bidding wars. wall street cares about wall street. ordinary peons? go live in a cardboard box for all wall street cares.
It's real estate. Investors have bought property for decades. It used to be commercial more or less but there's no laws or regulations forbidding investors from buying. You're free to go buy as much as you want.
You should be mad at the fed that made interest as low as it was. Investors just took advantage of it
@pedraw A home is a necessity, a requirement for survival,
and local, state, and federal government's priority should be assuring EVERYONE a home.
@@carpediem44 and yet that is what happened. The government "assured" people low interest loans with poor credit and mandated zoning for single family homes. It created the problem.
You sure you want the government to keep trying to fix the problem? 😕
I couldn’t help but laugh at the cicadas comically drowning you out towards the end. I have lived in the St. Pete Clearwater area all of my life. Its pricey right now. Many of the old dogs around here say it’s closer to 50% overvalued
It seems like big investors bought up homes to temporarily stabilize pricing in preparation for the big collapse. It seems to be completely orchestrated. Pretty scary that they can mess with the finances of the little guy so much!
I have $50K, is that enough to buy a 3 bdrm house on the beach in Florida? I am counting on this market crash.
A friend of mine told me that $50K will buy a 10 acre ranch with a lake in Texas.
Lol
at one time homes were simply bought as a place to live, nothing more... since the 2006 housing bubble homes have become a speculative asset and the housing market has become one giant casino
True.
It's a good time to get out. I went to a city council meeting in St Pete and had a city employee refuse to talk to me as a property owner in the city and call me a "rent seeker". They are hell bent on destroying the mom and pop investors.
@@W9CR to late.. unless ur perfect
Good.
Truth is a beatch.
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.
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?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
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.
Great video Nick, absolutely spot on.I cant wait for interest rates to Drop , hopefully 3 - 4%,, home prices 30-40% so we can move back to Florida gulf coast !!
Where are you living now?
You can have interest rates drop or prices drop.
Pick one
@@priestesslucy3299Ill come back for this comment when you are proven absolutely wrong.
@@priestesslucy3299exactly, not both. Preferably interest rates, because that would keep the price of the house inflated for the owner to profit. The average person wins. But if the interest stays high and prices drop, the bank wins. I mean the NA mms wins in both scenarios unless the owner lets the buyer work a deal between the two.
Dream on - the opportunity was missed
*Glad I sold in April 23. Sold for 10% over asking and no inspections and cash. Closed in 7 days. Sold to an individual not a corporation too*
People dont understand the recent run up in prices is more a function of inflation (more dollars to buy the same goods) than a function of demand/supply. Its a nominal vs a real price increase.
They were running commercials for a couple years here for investors in home buying funds. Not anymore. And in Vegas, unless you have driven through there you have no idea how many 1000s of homes and rental units are being build all year long. It’s crazy!
In 2019 that property sold for $155k. It looks like they did put some money into it and it's under contract now (7/28/2024). If the final price is anywhere near that $370k listing price, they'll have made some good dough on that one. So even though it's down 10k, it's still way over historical norms.
Problem in Vegas is a bunch of Ibuyers went crazy in 2021, Zillow would have 30+ homes listed every week while buying 30+ homes then have the new homes listed 2 weeks later for 20K more while buying 30 more homes at the new price. Then in late 2022 all the ibuyers liquidated which drove our inventory up to 7-9k homes through early 2023. Our inventory got as low as about 2500 again at the start of 2024 and has actually been climbing quite rapidly for the last few months already breaking 5300 now and adding about 40-50 houses every couple days. Very few homes at the lower end of the market have been selling from what i've seen although $1m+ homes are, just mostly after large discounts from listed price.
Always check the assessed value
why ? its meaningless
Living in Vegas currently, and I assure you, they are working on the inventory. There are planned neighborhoods going up all over at all corners of the city. That said, there is for sure some amount of market manipulation going on with a degree of collusion between the Adelson owned Las Vegas Review Journal and the real-estate people.
Great point. I just moved to a new apartment by the Palms and Rio hotel
So that house is NOT an indication of Blackstone "dumping" houses.
Home Partners of America is a rent to own company, a potential buyer can use them to buy the home cash, rent it for up to five years and they have the option to buy it. If they move out early, HPA will sell the house.
Yes, they might be selling it "at a loss", but remember they collected years of rent. I'd guess this one is a "wash" for them.
But to be clear, HPA is not the entity Blackstone uses to hold long term rentals.
Sure but the insurance on it skyrocketed. The novel business plan the HPA was trying out doesn't seem to work. What does Blackstone do with a failed business they just acquired?
My sister and brother-in-law own 9 houses they bought after the last crash. They sold a business and the houses are their income.
Not for much longer after more people begin losing their jobs come fall. It's going to be a FINANCIAL BLOOD BATH.
Coming soon to the DFW area. There's so many new apartments built, and most of them very nice apartments in DFW that rents are dropping. In Colling country, Plano, Frisco, Allen, McKinney. you can get a new one bedroom apartment for $1,250. That's amazing considering that down the street homes are $450,000 with 8% interest rates, and $1,000 for taxes and $250 insurance. If you buy here better have 100K for down payment, and expect to pay $3,000 to $4,000 a month escrow, or rent down the street for $1,700 for 2 bedroom.
Dfw ahead of florida
I lived in Orlando Florida in 1986. My Apartment rent was $300.00 a Month. The good old days. Will we see these prices again.
@americanharleyrider8 to have that type of decline the wages and jobs would need to be reset......there not giving you 300$ a month makin 100k it will never be to ur advantage government is built this way
@@WETALKINMEDIA I have traveled a lot. I was in Sydney Australia. The women I talked to did not like their Government. They said we cannot afford anything.
California is a giant mess. High taxes and lots of welfare. I never went back.
Florida is full of homeless people. Begging for something to eat or drink.
We are in a recession heading for the Great Depression 2.0.
You will see a fire sale in 2025 like you have never seen before.
If a McDonald’s hamburger is $2.00 but, nobody has $2.00 is it really a good deal?
Nobody around here is buying new houses or cars.
Zillow falsely prices homes.
Investor/second homes/etc in Vegas are almost at 40%. People keep buying, thinking the money and profit is there. When ( not if ) it collapses, it'll be the #1 bloodbath in the nation, just like in 2008.
And that wasn't even bad because they didn't allow it to truly correct, they cut rates and printed money. Where we are now is just an extension of that, and in all likelihood they will do the same thing again.
Vegas is a unique market where almost 80% of buildable land in the county is owned by the federal government. Not comparable to these other markets that have unlimited space to build
@@lewlew5660 Except that there are over 100,000 vacant homes in the county as well. B&Bs, Investments held off-market, 2nd or 3rd homes sitting there, and more. It has one of the highest percentages of non-resident homes in the nation, and you can hardly drive three blocks without seeing a piece of vacant land. There's plenty of homes, or will be once the panic sets in. Us locals? Seen it before. Got our popcorn ready.
Very familiar with the market. Population growth is much higher now than it was in 2008. Everybody is being priced out of California and need somewhere to move. Over 170,000 people have moved to clark county from California since 2021. Not comparable at all to 2008 much different market now in terms of supply and demand.
@@lewlew5660 They built a TON of homes, too, so that 110K vacant homes is at current population. Migration is also slowing down (net outflow is rapidly approaching net zero growth - maybe 1-2 years at this rate) a lot as everyone is choosing Arizona and Texas as they are dropping in price, while speculators are creating a bubble here. My own parents looked at Vegas and decided that they would simply more to Illinois. $385K and the house is perfect, 2500sq ft, and on a half acre. In Peoria in an upper-class area, so not some tiny shoebox of a town, either. My other relatives all moved to Tucson as it was cheaper than Vegas by far. (about 150K cheaper now than Vegas).
Seems like homeowner insurance trends should play a major role. Not just the latest increases, but also what's reasonably to come.
St. Pete florida is a bad area to live. Unless yojr rich, it's one of the coolest places to live.
St Pete is a unique place in the you go from luxurious apartments and homes to the "bad area" within a short 15 min drive.