Barbara Corcoran reveals when housing prices ‘will go through the roof’
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- Опубликовано: 7 май 2024
- In a wide-ranging interview on 'Cavuto: Coast to Coast,' The Corcoran Group founder and 'Shark Tank' star Barbara Corcoran addresses market trends and challenges in real estate. #FOXBusiness
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Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
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
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from AILEEN.
They will be spending that PROFIT on a new house--unless then plan to take up "van life" and park on your street. People are such idiots thinking that this PROFIT is some kind of manna from heaven.
@@cbrashsorensen property taxes doubling due to crazy jump in housing values is was forcing ppl to sell
💯
Real Estate is already through the roof........and no one can afford it.
Barely, Thank God I got my home before oburden......
Correct
It's all going according to the Marxists ("democrat") plans.
That's not true. People with money can.
Houses are sitting on market really long cuz no one’s buying em
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. Sure I'm not alone in my chain of thoughts.
The government will have no choice but to print more notes and lower interest rates.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I won't pretend to know everything, though. Her name is Amber Angelyn O'malley but I won't say anything more. Most likely, you can find her basic information online; you are welcome to do further study.
Amber profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
Real estate and stock investments may be good decisions, especially if you have a solid trading strategy that can see you through prosperous days.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
'Melissa Terri Swayne is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Melissa’s profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
Prices are bad enough but the ridiculous property taxes make it even worse.
Hell yeah
And outrageous property insurance!!!
Not where I live.
In Texas things have been made so much better by the legislature ❤❤❤
All part of the plan.
I completely disagree with her. There are no houses for sale because homeowners do not want to trade a 2.75% mortgage for a 7% mortgage so they are staying put
We are also under built in most areas. That’s what is going on in my area, along with sellers who don’t want to give up that low low rate.
THEY WILL SELL, ONCE THE INTEREST RATES START GOING DOWN, MAYBE THIS YEAR
That's me
The problem with selling your house is, where are you going to live? I think too many people got obsessed with the idea of making a huge profit from the sale... but then they still have to find a place to move to. This is why I wont sell my house. I have no reason to move, and if i did i'd have to find another house. I dont have a super low interest rate either. But im staying!!
Which is driving the price increases.
Barbara is a typical realtor... they always say right now is the best time to buy or sell!!
historically it is...
You buy when others are panic selling. You sell when others are retail buying in a frenzy at the top of the market.
Yeah she's full of crap.
When you have a sizable savings, good credit, and been on your job for two year’s or more that pays enough to afford a mortgage, is the right time to buy. Has nothing to do with the market.
@@SwiftReadethis is it right here
I’m not waiting for interest rates to come down, I’m WAITING FOR PRICES TO COME DOWN!
You’re not going to be happy. Home prices wont be dropping anytime soon. 2008 was the result of Chinese money that was momentarily injected into the market combined with the Bush administration continuing the Clinton policy of compelling FANNI MAE to require the inclusion of high-risk loans in order to put an end to red-lining. Good intentions, horrible results.
AS SOON AS INTEREST RATES GO DOWN, HOUSE PRICES WILL GO UP, REMEMBER YOU CAN ALWAYS REFINACE AT A LOWER RATE
@@domcizek That is the conventional wisdom and what Barbara suggests. However, when rates come down, how many home owner's with a mortgage at 2% to 4% will be more willing to list (resale market)? At 5% on the 30 year, will some % of people with mortgages list and will those listings put more downward pressure on prices than any new demand from the lower rates? People with 2% to 4% rates now are holding on even if they want to sale because the asset is not the home but the low rate, and for most, that asset, the low rate mortgage, is not transferrable to another house. That's the only thing I'd challenge Barbara on from that segment. She's spot on with the rest of what she is claiming.
You always port your mortgage so you can sell
@@domcizek I’m a cash buyer looking for the deal.
Squatters are finding plenty of houses!!!
Not in Florida, they just passed legislation..
Yeah because pieces of paper that say you can't do something works.
@@JohnKeyser I doubt they watch the news. I know many don't speak English. They watch Tik Tok. Very soon there will be a lot of "misunderstandings" that end up violent and not only in Florida either.
In Arkansas, we got the 12 gauge eviction notice. Lol
@@Eddie-qx7cx Comes with a prison invitation too?
prices are too high. With rates not subsidised in ’24 and mortgage still high , currently seeking alternatives to maximize savings without an RV move or taking a loan. I’m seriously contemplating the latter.
Affording our mortgage is tough as well. I have suggested cashing in, renting or relocating, and investing the rest in the stock market.
If you can afford to relocate, you should manage the mortgage.
if you are looking to invest in the stock market, I suggest you Consider a fiduciary with mortgage-backed securities knowledge for guidance. Prices today may look like dips tomorrow.
I know. I'd enlist a reputable fiduciary. How do I find and vet them?
Melissa Rose Francks 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
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
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.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Vivian Carol Gioia' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was to find her handler, She seems very proficient and flexible. I booked a call session with her.
the house my parents bought in 1960 was $17,500.00. my Mom did not work and my Dad drove a laundry truck. we moved in 1972 and it was $57,000. that house is $1,500,0000 now. houses down the street in a nicer 1960 neighborhood are $1,800,000. my 35 year old neice and her husband make over $200,000 a year, they are still renting.
If they make 200k /year and can’t buy a house
They have a debt problem. That is their fault
200k a year now isn't a whole lot. It's honestly the equivolent of making 80k a year 10 years ago. You can get by...rent..maybe own an OK car..go on a nice vacation once a year..that's about it. Earning less than 150k combined you're living in abject poverty. unless you live in in the woods or something
@@yahhz5554you so mean😢
@@AgentOrangeJuice California income:
Top Earners $181,097
75th Percentile $154,900
Average $146,901
@@yahhz5554 the home they are renting is worth 1.8 million dollars. there is not a single family home with a yard less than 1 million that good people would want to live in.. you would need $200,000 down payment, and have a $5,000. monthly payment for the 1 million dollar home @20%. lets not forget property tax. do you have $200,000 in the bank?
I think houses prices are already through the roof.
Well we're staying here then.
Crashes happen when you don’t expect them.
👍👍
Let em pay high property taxes and insurance. It'll catch up to em.
@@charleslavoie5402but it sounds like everyone is expecting one
I have 35% of my capital investments in an IRA, 25% in index funds, and the balance spread across other investment accts totalling over $250k. I took a big hit in Q2, 2023. Right now i am just looking for ways to recover in 2024.
There are a lot of strategies to make tongue-wetting profit especially in this down market, but such sophisticated trades can only be carried out by proper market experts
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
I find your situation fascinating. Would you be willing to suggest a trusted advisor you've worked with?
Her name is “Sonya lee Mitchell” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
You DO NOT need a realtor to sell your home. Title companies will tell you what you need for the closing. I’ve done it twice and saved a bundle.
The drawback is having unqualified strangers marching through your house😱 checking out your stuff.
Bingo. Bought my house that way.
You are 100% right. The realtors call us FSBO . They hate it and scare people thinking you can't sale a house with out a realtor.. you just need a closing attorney. They do the title search,and call the bank , if they qualify it is easy . Or pay cash. The realtors and appraiser are the instigators on house prices out of control.
Using a realtor is like paying for a service, I can pay someone to mow my lawn too, but I choose to do it myself. Same concept.
@@stephennickel7691how do you go about only having people that have been approved for a loan tour your home?
*Why do I feel like I'm watching a late night infomercial? All that's missing is Cavuto looking into the camera and saying "What are you waiting for? Call now! Operators are standing by!"*
😂😂😂
That’s hilarious
Cavuto is a Democra
Because you are.
I wonder how much Barbara was paid by the National Realtors Association and the National Home Builders Assocation for that Infomercial?
Establishment tool Cavuto collected his booking fee, too.
You nailed it
Barbara sounds very intelligent to expect houses to go up further.
Expect huge crash after elections
My thoughts exactly.
and NYC
@@nickka2009 Huge crash? lol All of a sudden MORE homes are going to available after the election? What is it you don't understand about basic supply and demand?
A Financial Planner told me Saving at least 15% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. How can take advantage of compound interest and potentially grow your retirement savings overtime?
In times like this it is better to seek help from a professional as such key decisions are better guided by experts with market experience.
That is exactly the reason I stopped trusting the financial advice of RUclipsrs; in the long run, I only end up with a jumbled collection of stocks and bonds. Whereas all I needed to earn over $350k in less than two years was guidance from a true market expert.
Thanks for replying, That's a very impressive return, You must have a good idea of stocks. How did you go about it?
She's 'Melissa Jean Talingdan ' The best I've seen so far. Simply do your diligence...
@SageMadsen who was your pick as far as a real financial advisor?
I live in Utah, the third most unaffordable housing, after Hawaii and California.
Our wages are lower than most states.
It is a sad thing when young couples and families can't afford an apartment, let alone buy a home.
We do not want prices to go through the roof. Families cannot afford a home. this is a real problem.
Most people involved in real estate will pretend to care about families but they can’t admit the harm perpetually pumping home prices does.
Exactly and those idiots acting like its not a big deal
What you want and what will happen are two different things.
ever play monopoly?
@@jfaussetsellers would need to want to sell their homes for less if that’s going to happen.
No way in 🤬 would I ever even VISIT NYC let alone live there!
Definitely off my bucket list
Stick to Alabama
Fortunately there are many people who actually have money that do wanna own property there
I went one time back in 2017 and it was fun to be there a few days seeing main sites. No way would I live there. Too chaotic
@@mikeburrill779 It was still pretty cool in 2009, but I wouldn't do it today. San Fransisco today? Nope. American cities with over priced hotels? Pass. I stay home in the 2020's for there's just no money.
Paying 6% to sell a home has always been ridiculous. The entire process needs to be redesigned.
Back in 2010, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit. The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder's plastic still covering the carpets.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
Credits goes to " Sonya lee Mitchell" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
They already are through the roof! Affordability is at an all time low!
so you better get in while you can. You heard the lady its not gonna get any better and all the data suggests that. If you waiting on the sidelines for a miracle when you can buy now your a fool.
You are not working enough hours. Stop whining because you can't afford a house.
Saw it on the horizon. bought a luxury 5th wheel. have permanent spot. close to the beach. pay under $900 space/power/water. san diego north county very nice all year!
@@user-jc7jb3bu5s - California sucks though
@@ShowMeWhatINeedToKnow Sorry to say, many cities here really do. most of san diego still nice, for now. another multi thousand caravan now at the border. not looking good.
You mean they haven't gone through the roof already? 😫😫💀💀
This lady is full of crap and is just propping up her own portfolio.
She still in her la la land😂
I couldn't afford to buy my own house today.
they will go now into orbit
The elites that have their houses, forty acres and a mule are talking to the rest of us about house prices.
Racist much ..thieved?
He’s basically asking a real estate agent if it’s a good time to buy a house
“Prices are going to go through the roof, buy now!”
I think Barbara is out of her mind. Prices are already outrageously overpriced, and she thinks they will go through the roof? They are already in the stratsophere!
IT DEPENDS WHERE YOU LIVE, IN FLORIDA OVER 1000 PEOPLE A WEEK ARE MOVING HERE, ONCE INTEREST RATES START GOING DOWN, HOUSING PRICES WILL START GOING UP AGAIN, AGAIN, ONLY IN FLORIDA
Until there is significantly more inventory prices will continue to rise.
Just wait. My brother lives in the Toronto Canada area and a townhouse and hour outside of Toronto runs over $1 million. My brother has a farm he bought 8 years ago for $565,000 and it is now worth $20 million. He won the lottery. He’s going to sell in the next two years and the property will be worth around $25-30 million and he’ll have generational wealth in his bank account. People are getting 100 year mortgages to buy homes.😊
@@Workingcockersnobody likes a bragger
Remember she doesn't live in the reality of the middle class...she speaking for the higher income folks....folks .
65% of American agree, FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB. FJB.
65% of republican American if you want to factual.
FDT
@@davergent1521 that will make you between 130K and 90M. if you still want ot.
You can’t say FJB long enough or loud enough !
@@Leonard-hk1nf to have any effect. but lock him up is getting catchy with jurors.
The problem is corporate america owns too much real-estate and dictates the price. Until you can kick corporate out of single family homes, price will be over priced.
Yup true story. That started under Bush and Obama let it ride. He didn’t do a damned thing to stop black rock.
No they own 2% of the market
Are you including vrbo's, airbnb properties and farmland? Over 5 million semi-vacant single-family homes In America are being used exclusively for short-term rentals or vacation homes. A 10% increase in Airbnb listings leads to a 0.42% increase in rents and a 0.76% increase in house prices. Cost per acre, for farmland, has risen significantly since 2005. The number of U.S. farm acres owned by foreign entities grew more than 8% in 2022. Almost 44 million acres of forest and cropland are foreign owned. @@thomasrichardson-ev1wp
💯
@@thomasrichardson-ev1wp there is investor buyers who rent out the properties, also foreign investors. It is worth noting that corp America has never owned 2% until now and they are known to focus on buying en masse in busy cities so they are a factor in this too.
Barbara is a realtor and she is in housing business she will never say home prices will fall down even it will happen tomorrow, all realtors say the same thing ; prices will go through the roof but we need to ask middle glances and families if they are willing to pay these high prices ? Anyway by next yes will see where the market is heading!
My house is afordable because I bought it years ago. But if I had to buy it now, no way could I afford it. So I am staying in it like many others. Basically the people who did not buy years ago are screwed. I remember in 2008 they could not give homes away.
Same here. I'm not sure where you're from, but in NJ, my house, while it's worth more with a 2.75% mortgage, my taxes, bills are so far through the roof, I can't afford my house anymore. I need $30,000 just to cover Taxes, insurances, basic bills, fuel.. it's sickening.
@@zline-sp2fs Taxes in NJ are insane. Oregon I pay $6k for taxes, insurance 2K for 3,000 sq ft house
@MoneySavingVideos When I bought in 2014, my taxes were under $6k. Now they're $14k! Special school tax last year was an extra $3k. And my insurances for home and auto are at $5k even though I have a 10 year old car, no accidents or points, and I've done nothing to my home. NJ just wants to empty our pockets at this point. I can't wait to get out!
@@zline-sp2fs I grew up in W. Orange. You may want to consider San Diego. Taxes insurance same as Oregon but winters, summers are great.
NY is a dying town, that hasn't realized it like a frog boiling
SHES DELUSIONAL
NYC here. I agree.
Close the city and make it a big prison
NYC and CA and FL have international money to support them
I hope it can make a come back in the near future and Trump save us New Yorkers
I disagree with Barbra property taxes and hoa fees are through the roof. 1% intrest rates not going to help.
It is unconstitutional for municipalities to levy taxes including property taxes. Unfortunately the courts have stood on the sideline allowing this confiscation and permitting states to write tax codes that fill their coffers with the greed of avarice.
1% interest rates would not help? You ought to be kidding!
Where is the constitution does it say States can't levy property taxes? Look, I think taxes are theft but legal none the less. @@19MarkDavid
So far off from reality......
They would sure as heck help. Do the math. Some can even do a 15 year on a 1%
Agents do not deserve 6% commission, especially on high end homes and homes that sell quickly. How can they justify taking 50k plus in fees for not doing that much. It’s ridiculous! It’s time for buyers and sellers to do peer to peer transactions and cut out the middle man!
agree, a lot of self serving people became realtors for the greed and fast buck
Commissions haven’t been at 6% for the last decade.
@@Dbb27 Even 5% under the same scenarios is ridiculous.
@@DR-yl5sp there’s a solution. Don’t use a Realtor! No one forced anyone to work with a Realtor. There’s more options now to advertise and promote a property than ever in our history. I was told Realtors would be obsolete because of the internet in 1994 yet we’re still here. Guess some people don’t want to drill their own teeth.
Agree 100% Simplify!
In light of the current economic trends indicating a potential downturn in the stock market and an impending recession, coupled with falling inflation rates, investors are advised to consider diversifying their portfolios. Exploring alternative assets such as gold and crypto trading would be a strategic move to hedge against the expected market volatility and inflationary pressures. This approach is crucial in navigating the complex financial landscape shaped by fluctuating Federal Reserve policies and the broader economic climate........Amidst this the insights of a knowledgeable guide like Kerrie Farrell can be crucial. Her expertise in navigating the nuances of cryptocurrency investments has been the key to understanding and making the most of these emerging financial trends...managed to grow a nest egg of around 4 b,tc to a decent 21 b,tc in the space of a few months...
she's mostly on Telegrams, using the user name..
@Kerriefarrell
Diversify countrys?
I’m sorry, but Barbara’s not gonna say anything that could damage her investments in the cities. People are fleeing from New York City in droves and there’s no new investors coming in so all those young people coming in who are excited about the city will get a wake up call soon enough. They’re just too young to know what they don’t know.
They are NOT fleeing. On the contrary. You are just repeating what Donny says. He says it because he is feeling dejected and wants company.
Why does the actual data show that the population in NY is dropping by hundreds of thousands. While cities in red states are increasing across the board. Unfortunately you’re the one regurgitating talking points. Good luck with that.
There’s no fleeing out of NY going on in Long Island especially The Hamptons!! 😂🎉🍾🥂 🌊 🌞
@@albatross8 that’s probably due to the increase in non-citizens being bussed in from Texas.
There actually are many people moving to NYC .... on a bus from the border. But that's about it. SMH
The housing costs have already gone through the roof‼️🤬🤬🤬🤬🤬
Fox needs to put the freaking date on their scroll. When was this recorded? Today? Yesterday? Last month? Last year? Last decade?
All you have to do is look at the stock ticker scrolling across the bottom of the screen. This video is recent. DOW was ~$39.4k when this was released, today Easter Sunday it's ~$39.9k and trending up. So I'm guessing very recent.
If I cared to put a little more effort into it, I could check a few more stocks and dial in right down to the hour.
It says 4 days ago at the top of the video info. Next to 922k views.
@nicolejennings8389 4 days ago was when it was uploaded, not necessarily when filmed.
@@FWMCBigFootthey don’t wait weeks or months to upload. At most it would be a couple of days, but it’s usually within hours of it being live.
@@FWMCBigFootOr the poster could just specify when it was aired.
What planet has she been living on???? Home prices have been through the roof for the last few years!!!! Completely unaffordable for the majority of people in this country now especially with the interest rates we have now.
People don't care about crime until they are a victim of it.
I will say almost every buyer I've ever talked to asks about the crime in the area.. so I disagree
@@LifeAsDane exactly that’s why so much shifting in areas
Well, those are the people that bury their head in the sand anyway. Not the people who stand up and try to make a difference.
Most people are not victims of crime, especially property theft and assault. Our perception about crime, is fed by the media and politicians. Politicians push the crime narrative to frighten us into voting for them. I am in my early seventies. I grew up in the inner city, and never experienced any violence or property theft. I moved to an affluent neighborhood in Arizona and had two expensive bikes stolen from me.
Shortage of houses where people desire to live.
No, there's TOO MANY PEOPLE.
@Terrathrax not in detriot and Baltimore. There selling houses for $1 practically giving them away. OP is right
@@Terrathraxglobal over population?
@@thanosianthemadtitanicWatch the movie Detropia change your mind
@@Terrathraxstep up and buy your ticket for a dirt nap… I didn’t think so.
All we hear about is "agent fees", have you seen the other fees associated with closing?
Where were the supposed shortages before covid? Where were these 10 buyers per house in 2019 when prices were less than half of what they are now, AND rates were much lower?
As of 2019 we were 5 million builds short in our housing market. The pandemic pushed the market and Trump administration kept hammering the feds to push down interest rates. Add in the low interest rates which qualified more buyers in a tight market plus those that didn’t want to sell because of the pandemic and you have a very hot market. We’re now at 4 million builds short but also have the highest group of young buyers 25-35 since WWII.
They were out paying for " exsperiances" and delaying getting married or having children.
There's lots of houses to go around if speculators and investors would stop hoarding them.
Blackrock led by ✡️ Larry fink and other corporations
Barbara! Almost put my faith in what you spoke of until you mention the crime doesn't scare people off... really? I think you are mistaken. No one I know wants to ever visit NY anymore.
She probably has private security and lives in the sections of NYC that have less crime. It’ll get to her neighborhood eventually as it always creeps outward.
NY had its highest ever number of tourists last year. Not everyone is scared of living their life.
You confused tge word tourists with newcomers.
@@whatsamattayu3257 all
lol i know right? crime doesnt scare people off? what is she talking about?
They mention real estate in Florida but leave out the insane insurance prices….
Home prices are not really going up. The value of your dollars is going down. Plan and simple. The government has to stop printing money, and then spending it like a drunken sailor.
Gotta call BS on the desirability of NYC for young people. Young people don't want to feel afraid to walk the streets at night any more than old people do. My college age daughter just visited NYC and told me she would NEVER live there.
Agreed. First night there a few years ago and we saw a groups of guys holding up and harassing a restaurant. Just like that right in front of everyone. Would never want to live there
and someone from NYC would never walk the woods in the dark. so?
@@diegojines-us9pcshh. The adults are talking.
Your daughter is not representative of the entire young adult population.
Tell her to talk to my daughter who lives and works in that hellhole
FJB! - Charge Him for Treason and Insurrection!
If Incompetent, Impeach and Charge him for Treason!
Trump did those things. He made deals with the Russians. He lead Jan 6. He was incompetent during the pandemic. Lied about Covid-19. Lied about the 2020 election and hired fake electors to try to steal it.
What does FJB stand for?... Oh! I got it, FREAKING' JOE BIDEN
He admitted to bribery.... FJB!!!
the parrot is still at work.
Yes, it’s way way overdue- a well seasoned career criminal & deep state Communist Puppet who must be held accountable
Purchasing a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now.
Home prices will never go through the roof when interest rates are so high. The boom was largely driven by low rates. We will not see rates low enough to drive demand for a while (years).
Housing is already thru the roof !! Kids in their 20 s. Will never be able to purchase a home .. 20 years ago my house sold for 73k. Now it’s worth 750k …. Crazy
What 1000% appreciation over 20 years isn’t normal?
In 20 years your home should be worth $7.7M.
@@mdishuge the same home in 1986 sold for 50 k I bought it in 2005 for 73 k. Wokist!
@@mdishuge wow you must be higher than a kite. Our a Wokist!!
@@bryanspayde5681 I was being sarcastic.
I have never met ANYONE who wanted to go to NYC? Expecially now. Where do you get your info?????
@@kingelvis4688hipsters are renting. They aren’t buying real estate.
@@kingelvis4688 Seriously? Wow
your elected mayor does the job of trashing the city no need for our input@@kingelvis4688
NYC is cool if you like crime, mugging, squatters, homeless, illegal immigrants@@kingelvis4688
She said young people who are new are excited to be in NY. Maybe they should take the subway.
It always comes down to supply and demand. Period.
its better to rent nowadays than buy a house,interest rates are so high and the monthly mortgage.
New York is losing! Young people from New York alot of them are here in Ohio and can’t believe how much better a life they have ….
i been thru them cities in OHIO. and left before it got dark. they use meth wrappers to fill pot holes.
@@diegojines-us9pc notice your afraid to use your real name ! Lol
@@bryanspayde5681 noticed you was looking for it. gonna send me a surprise? 5681
She's hyping NYC because she owns property there. Vested interest. It's progapanda
That's why they're housing illegals at the Roosevelt Hotel at government expense
Her wealth is connected to real estate and she is a salesmen … she is going to paint a rosey picture no matter what
Like asking a used car salesman if today is a good day to buy a car.
Dallas....Exactly
She says these are “rough times”. That is an understatement.
Barbara’s on a pipe dream. What a housing market cheerleader 🇺🇸🇺🇸
I'm young and will never live in NY. I like my yard space and less pot holes.
In hot markets, people will never sell anymore because they have golden handcuffs from artificially low mortgage rates. Sad reality, but the FED broke housing
Fed did nothing wrong.
My closest friends bought less house than they can afford and are now trapped in neighborhoods that aren't great.
I actually warned friends that could happen. Others that stretched practically got free houses due to excess appreciation in better neighborhoods and fat mortgages under 3%.
What about property tax.
On purpose
Feds broke the housing market. No one is giving up a 3% rate to go to 7. Supply is low so prices will be high.
The federal government pricing people out of the market with these high interest rates.
That was their goal to slow down the middle class.
great interview! Ms. Corcoran is the best
Shes so out of touch she doesnt realize how unaffordable houses are now. Whos going to qualify for homes? Imaginary people? Houses prices are coming down.
Today just coming up with 30% down is huge with the price of homes. Then factor in the current interest rate and the mortgage is crazy.
Who can afford them? Blackrock, State Street. Trillion dollar balance sheets, I think they can afford them. But you making $70,000 cannot. And that's the plan man.
Doesn't work that way. They are actually selling what they've bought. @@user-wg3bu5wh6d
I keep hearing the same old WHINE. My wife and I really began saving money in 2016. We had enough in 2020 to invest in IRA's, and annuity, allocate more to 401k's, etc. We had more saved than we needed for the downpayment our home that we bought in 2022. You must reread my second sentence: "We really began saving in 2016." That was 8 years of hard work and savings habits. It became a lifestyle that started with saving $100 per month and then snowballed each time we got raises of new jump pay bumps. We still live like cheapo's. Houses are not unaffordable, people's lifestyles ARE!
Lol randy. Congrats on saving for 8 years just to be a slave to that interest rate for your 30year mortgage. The bank thanks you.
Property tax system is broken, explain why if you’re living in a home that you paid 300k for and you sell and buy one for 500k your taxes jump dramatically. Your impact on local services didn’t change your family is still the same size, same amount of kids going to school. It’s absurd that you pay more just because your house cost more no other reason.
Do you want people who own 300k house to pay the same property tax as people who own 500K houses?
@@glennwatson3313 The real questions are where is the tax money going and for what. It is way past time for more than 1% of people to get involved, going to meetings and getting all the information.
If you can afford that house, you can afford it's taxes. Period.
THEY KNOW THAT IF YOU CAN AFFORD A 500K HOUSE, YOU CAN AFFORD THE TAX
They call that wisdom, young and dumb people may want to go to NYC, nobody else does. I spent a lot of time there, it is expensive, high crime, very dirty, very crowded, and most of the people are rude and nasty to each other - what’s not to like?
I'm from NY and I live in FL now. I've never heard one Floridian say they want to move to NYC.
😂😂❤
So people are complaining about food prices and not affording them. But out of left field everyone is goona have tons of extra money for house's. Not seeing the connection.
So true
I don’t agree with you on this. If you think the middle class is hurting today, I think you’re nuts. People are spending $10K - $20K per kid to have them in club sports. When those clubs stop, then I will think the economy is hurting
Well according to Fox Biden has put everyone in the poor house. But I'm with you I realize many people are doing just fine.
@@brianvanwagner4802 I was having a conversation with a Trump fan today, he is die hard fan, and he was telling me how horrible it is now for him. Then he was talking about how his $2 Million in real estate is just not covering all his bills and he has to have a job for insurance on his family. Head scratch!!!
Think about who has actually been buying up real estate - these are the buyers they actually don’t mention in this interview…
Liberals are crying because Trump called Nikki Haley “birdbrain” and said all her supporters are “RINOs unworthy of MAGA!" 😂😂
@MoonCricket-yr1xn X 90 million !
@@happydayz5321 Nicki Haley did not have 90 million loyalists. You must be delusional.
Trump 2024
Latisha and fani going to show their invaders what it's like to bow down to the real president Trump
They are always crying about the truth.
They are not crying; they are laughing.
When someone (even Barbara) says house prices will keep going up because they have always gone up.
BEWARE.
So so true!!! Finally someone who understands Real Estate!!!
As home values increase, homeowners insurance increases because of replacement costs for repairs. Taxes also increase as home values increase.
I know in Florida big investment firms building thousands of houses just to rent . Between Airbnb and investment firms regular buyers. Good luck.
Same in georgia
because they have no insurance. and the big ones. they seem to fall down alot in florida.
The biggest contributor to the rise in property evaluations is the situation that large, sometimes global corporations are buying up everything they can and most often paying more than the asking price. They shut out the purchase power of families who want to buy their own home. In this way, the property prices are sky rocketing, the taxes also, and neighboring and regional assessments blow out any possibility of families being able to purchase a home of their own. Interest rates may be going up, but that is not the true issue. Property value is assessed in comparison to comparable property sales in the area. Over priced sales drive up the assessed values. This not a natural value increase. It isn’t even inflation. It is mega-corporations buying up all affordable property they can. Not organic.
The more they go up the harder will crash prices are already ridiculous, my home is like 3 times what i pay on 2015
Prices were caused by 0% interest rates, not a shortage in housing. I'm sorry but the population has not gone up 200% since 2019. Lets be real. We need to get the investors out of the housing market and the Boomers out of politics. All of our lives will improve henceforth.
Sick of Boomers, and Barbara is an annoying Boomer.
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5 buyers out there per house….but is there 1 buyer in the 5 who can afford that house?
And people blame agents for “bidding wars”
Yes the billionaires buying another investment property
She supposed to be a guru of property. Why doesn’t she speak about the insurance? People cannot afford a house with insurance as much as the house
Housing went through the roof several years ago, its now entering the stratosphere
Excellent commentary from Barbara Corcoran. Prices have risen nearly everywhere and inventory is low in many places. Supply and demand.
If houses go through the roof …. That means only one thing. The dollar has hit the skids and it’s losing its purchase power rapidly. And that’s not good for all Americans
Housing is unaffordable for 90% of Americans. Median price of a home in 2010 was $168,000. Now the median price is $418,000. This means an average of 18% appreciation since 2010. Wages have not gone up 18%. Working class people are lucky to get a 3% raise.
The whole real estate industry is corrupt.
I thought housing prices were are ready through the roof!!!!!
It's not despite the shortage of house's it's because of the shortge. The real problem is that there will be an incentive for buildrs to build slowly and keep prices high to make more money, just like the diamond brokers who sit on diamonds to keep the prices high.
Thank you Barbara for your information and thoughts. I agree that prices will be going up when rates come down and it will be another competitive market for Buyers.
Houses are not selling in my area as fast as they did a couple years ago! Basically, the high interest rates and Biden’s wonderful economy has caused a freeze in selling homes here in Houston area!
The number of homes selling has been down 40% compared to 2021. However, prices in California have appreciated by 7% in 2023. What we are seeing nationwide is that for new construction to sell, they are having to "Buy Down" rates into the 5.75 range to move homes. Many are predicting by the 3rd quarter of 2023, rates will be down to 5.5%. If that happens, prices are set to increase.
The big challenge is that no one wants to give up a 3% loan to buy another home, so this accounts for the lack of inventory. 3 of the last 4 homes I sold, were cash sales. So, people are borrowing against stocks to buy properties. This is a hardship for first time Buyers.
Yes, the present admin is not good for business or the public. If DT is elected again, he's got a lot on his plate & not sure real estate will be his first priority.
CA will always go up. People who left now want to come back and most can’t because their Texas house is losing value quickly while CA keeps rising.
Need to adjust the prices
@@AS-gf5jn Agree. That's the hard fact about living California. I had a client call me last week about selling their home, it would of sold for about 2 million. However, I sold them their home 20 years ago & they did a refi when rates were 2.75. I advised them not to sell. In the past year alone, their home has appreciated over $100,000.
While California is indeed expensive, there are many excellent things about it--apart from the weather-- that is difficult to duplicate. So, if someone wants to move to another area, I suggest they rent their home out for a year & live in another location before selling.
@@mtngrl5859 it certainly has its many issues but what state doesn’t. The positives is a robust economy, ski and surf same day, best climate in the US and overall a great lifestyle and beautiful place to live. After several years in FL I’ve learned to just stay put, the grass ain’t always greener.
She revealed the state of NYC currently, older people (and their money) are leaving, younger people (with no money) are moving in.
She didn’t say they (younger ppl) didn’t have money. You cant go there unless you have money. Rich parents i presume?
When you go to 10/10 brokers and they say 6% is the thing...6% is the price.
Housing prices have been through the roof since 2018. Before that 2004. In 2016 there were fixers in northern California under $50K. In 2002 a 1 bedroom apartment was around $300. Rent prices went through the roof in 2004 with the housing market predatory lending bubble and they were under control in 2014. In 2017 construction/tradespeople started charging more and housing went up quick.
I was buying run down properties for 75k and putting 40k into them, then selling them for 190k. Now, those houses are selling for 200k in the 75k condition. There's no room left
You know it’s possible to build housing units, right?
@@SigFigNewton that's a different contractor license. I can't alter existing footprints. That said, I'm going to get that license next because you're right lol
@@ChrisPyle I’m just saying that “no room left” is only as true as our society allows it to be. There are plenty of cities around the world that have much higher population densities than a typical US city.
you should have kept them as long term rentals instead but you thought the gravy train would keep going
@@pearlperlitavenegas2023 It's called an income lol Every third flip I have kept as a rental, but it's kinda hard to keep buying more if all your money is tied up
Every time an investor buys a house, they take away a home from babies. Someone stop them!
This would be an interesting thing to see play out, imagine how many more homes would be released into the market if property classed as single-family couldn’t be owned by corporate entities as investments, whether that entity is big or small.
Flippers do drive up prices as its just a business to them they have no intention of actually living in it
The number of single family homes used as rentals has decreased five of the past 6 years so that's not what's creating this problem. Why don't you look to the additional 10 million people who have poured across our borders over the past 5 or 6 years and ask yourself where they're living? Because if you think they're not taking up space at the lower income level in this country you're not thinking. They drive the price of low-cost housing up whether it's apartments condos or houses and our government exacerbates that problem by giving them money to compete against Young Americans who want to find a place to live
@@norawheeler2555The U.S. population would be nose diving without immigration. Look at the birth rate.
@@ravenspellman8370 first, the US fertility rate has been increasing slightly every year for the past 6 years or so. Second the US fertility rate is higher than Canada, norway, ireland, the uk, and about half the developed world and it's not anywhere near causing significant problems
Thanks to Wall Street homelessness will be more common.
Baltimore population is declining every year. Don't know why a person would buy Baltimore.
Only in a very few markets will go up, she's a typical realtor, she's full of it.
Realtors are positive and optimistic, I think that's good. They have a "yes you can" attitude.
Oh boy, Barbara always was the slightly jaded one of the bunch... Her and Mark Cuban... They may know how to make money, but they certainly don't know how to view moral trends, and historically speaking, neither one of them have a clue how to handle the BUBBLE that's on its way later this year...
I also hear what Barbara is saying about some markets having a high demand, so a drop of 1% will further that rush. But, there's a back laid problem that none of these real estate investors want to talk about, or want you to know.. And BE CAREFUL because THEY KNOW IT EXISTS, they just want non-savvy investors to float their money in it, so that when it DOES FALL, it'll be YOUR MONEY that backfills these massive crashes and not theirs. Because they know how to maneuver the stream as it crashes, YOU DON'T! So your money will get lost in the sucking pool, while their's gains buoyancy and rides the top surface....
TRUST ME, another housing bubble is coming! And it'll be worse than 2008. Trying to lure rookie investors into this marketplace, is what SHARKS DO... ;)
I love Barbara. I wish I was in her position. I’ve been in real estate for 40 years. Have not worked the last four years due to Covid. I’m making no money.
NYC is on life support. Plan the funeral!
As it should be.
I just had to go to New York City to board a cruise ship. The place is way overpopulated and basically a crime ridden cesspool. Lol. Sorry to be the meanie in the room.
NYC is the greatest city on the planet. Should we really heed the comments of a person who was surprised that the city has a lot of people in it.
Great attitude...despite being handed the woman victim card on a platter....she didnt take it and talked about just being a competitor. Cheers to that🍻