2024 Housing Market Forecast
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- Опубликовано: 31 дек 2023
- Mortgage Rates continue to drop while home prices hit all time highs. Is this the start of a 2024 housing crash? How will this change affect the 2024 housing market? In this video, we discuss the latest on the overall economy along with inventory, supply vs demand, number of units sold as well as inflation and the housing market to help you make sense of the housing market 2024.
⏩The 2024 Housing Market | Expect The Unexpected - • The 2024 Housing Marke...
⏩The Housing Market Just FLIPPED - • The Housing Market Jus...
⏩ The End Of The Housing Market | What You Need To Know ⏩ • The End Of The Housing...
HOME BUYER RESOURCES:
✅ - Get a Personal Referral to a Mortgage Expert or a Professional Realtor - www.jebsmith.net/referral
🏠 - First Time Home Buyer Course - www.becominghomewise.com
🎙- The Educated Home Buyer Podcast - @TheEducatedHomebuyer
Spotify - open.spotify.com/show/3Ho4sTO...
Apple - podcasts.apple.com/us/podcast...
Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty
➡I N S T A G R A M ➳ / jebsmith
➡T I K T O K ➳ www.tiktok.com/mrjebsmith
#housingmarket #realestate #housing 
Развлечения
🏠 - First Time Home Buyer Course - www.becominghomewise.com
✅ - Get a Personal Referral to a Mortgage Expert or a Professional Realtor - www.jebsmith.net/referral
⏩The 2024 Housing Market | Expect The Unexpected - ruclips.net/video/gqYv5XFjeak/видео.html
⏩The Housing Market Just FLIPPED - ruclips.net/video/T81MxmZPW5w/видео.html
⏩ The End Of The Housing Market | What You Need To Know ⏩ ruclips.net/video/ApKeZ6dx9Ts/видео.html
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 “Tenley Megan Amerson'” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
*You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months sometimes lesser and now they are multi millionaires.*
*I pray that anyone who reads this will be successful in life* ✊🏻❤️
Only God knows how much grateful i am. After so much
struggles I now own a new house and my family is happy once again everything is finally falling into place!
I can't thank you enough Mrs Angela Mae McClain!
I got similar issues, l'm an experienced trader but I can't lie.. I lose more than I win, I'm starting to think if it's even worth it
Please how can I contact her? I'd love to see for myself
You'll surely reach her
she's always active on Whats'akp👇🏾
Thank Jen for this amazing update
You are so welcome!
Inventory will be new homes which are still being built in large numbers, people selling their small starter home to upgrade, old folks downsizing or selling off one home to fund retirement, and people who are overextended just getting out before bankruptcy. Most of the inventory will be smaller/ older more affordable homes.
Great video, well delivered
When the price of goods tripled, they said it is due to inflation being 9%. Now they’re saying the inflation is 3% but the prices are the same as two years ago, that doesn’t make any sense to me. Anyone?!
Politicians are there to explain what the companies are going to do to you in a way that will temporarily make sense. They have no control over anyone but you.
You are a genius!
Would it be smart to use seller credits towards closing costs and not towards buying down the rate? Since rates are projected to go down, we may have a chance to refinance in the near future. What do you think?
Happy new year Jeb!
Happy new year to you as well! Thank you.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
It's difficult to predict the housing market in 2024 because it's not clear how quickly or to what extent the Federal Reserve can control price increases and borrowing costs without negatively impacting demand for a variety of assets, such as homes and cars.
Accurate asset allocation is crucial, and some individuals use hedging strategies or allocate part of their portfolio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay financially secure for over five years, yielding nearly $1 million in returns on investments.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
'Christine Ann Podgorny ' 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.
In a world of fear mongery, click baity RUclipsrs, be a Jeb. Jeb I never wait 30 seconds before a video for an ad, but you deserve it. 📈
Thank you.....That's a long ad, I'll have to change that.
Bro. December existing home sales were down 19% YOY. Lowest level since 1995.
When I see some housing bull opinion said there will be no home price crash because mass unemployment will never happend...It seem to be mania before depression.
Another clueless crash sis is in the house! 😂😂
So will the house price drop or raise?
It's challenging to predict exact market trends as they can be influenced by many factors, such as economic conditions, supply and demand, interest rates, and more. However, I advise to keep an eye on the market and consider historical home price trends in your particular area.
Yeaah CPI inflation is not as low as gov says. at least not in central FL.
Do you remember when people bought and hoarded toilet paper before the lockdown? Who told them to do that? Probably the same phantom entity that told them to buy houses en mass. Consumer spending is so unpredictable these days. We have no idea what the RE market will do this year. It might be the new "toilet paper" trend. If no one buys, then no one will make money. Inflated house prices (equity) doesn't matter if no one will purchase/refinance. The new supply will come from new construction and distressed sellers (short sales) A lot of those "Quick move-ins" are posted for Feb/Mar/Apr on builder sites, just in time for spring and summer buying season. It's a business after all. Its marketing-101. Also, new construction will dominate these resellers. They'll have to drastically lower the purchase price to stay competitive. I refuse to pay the same price for an older, outdated home priced the same as these shiny and warranted new construction homes. It's a no-brainer.
There is no conspiracy here when it comes to the housing market. Unlike many markets, real estate is perhaps the least prone to speculation and FOMO. Which isn't to say that real estate people aren't susceptible to those things. But the market itself is very stubborn and not quick to correct itself under microeconomic conditions. The housing market is still very largely affected by the macros. Namely supply and demand. Now, what affects supply and demand can be found in various factors e.g. QT, QE, interest rates, etc.
Case in point, let's presume that FOMO is driving people to make frivolous purchases. Anyone can go out and buy a roll of toilet paper. In the recent history we saw people hoarding them, buying them in bulk. The demand was artificially pumped by FOMO, which further beget shortage. Now apply the same concept to real estate, as you've implied.
Can anyone just go out and purchase two, three, four or more properties? No, half the country can't even buy their first house let alone multiple.
What is driving the home prices up and propping it up isn't just simple FOMO. It's supply and demand. Don't over think it.
Fantastic explanation.
so will mortgage rates will drop or not? We will see 5's?
in my opinion, yes.
@@JebSmith love to hear it.
I purchased my 3rd STR either way, closing end of this month. 5.85% interest rate w/ buy down@@marksweeney5237
Is it all right to sell your home to a company without using a real estate broker?
Yes, but you're probably losing money by doing it.
Don’t do it. Put your house on the open market and sell it to the highest bidder.
Im all for capitalism but they need to regulate the big companies on wall street and limit how many houses they can buy.
Canada surpassed China as the biggest foreign buyer of American properties, those damn Canadians.
😂😂😂 So you’re NOT “all for capitalism”😂😂😂
Capitalism-lite, perhaps?
@@laurenadams6704 Capitalism actually gets regulated all the time… but only in the favor of the wealthy.
Just making sure you don’t actually believe you have a point.
We need a break in the interest rates.....6 to ultimately 8% is ridiculous.
We are almost back to 6% now.
@JebSmith keep us posted. We can only hope for better. I'm looking to buy my 1st home within the yr. It's been a grueling grind to get in position only to be priced out by higher rates.
It's actually an historical average.
In Tanzania it's 25% and something like 30% in Argentina right now I've been told.
4-5 years from now, people are going to regret not buying in 2023 and refinancing.
Fortune favors the brave!
The Brave? What exactly are the brave doing differently? Renting?
@@JebSmith The brave are taking a higher rate for a better price and refinancing when rates drop to get a more favorable payment 👍🏼
@@JebSmiththe brave are doing what I did - buying a home at 6% instead of mistakenly believing that prices will magically drop when rates do. It’s not comfortable and that’s why the vast majority are sitting on the bench until they feel comfortable.
The vsst majority know that the 40 to 80% increase in home prices since 2020 is an anomaly and revert back to the historical norm of4 to 5% a year in apreciation. They are not mistaken and know that home prices will stagnate or slowly drop in the next few years until home prices are affordable for the median income of s particular areas income. It's inevitable.
@@dsj9831 best of luck waiting for home prices to drop 40-80% on top of a national shortage of 3M homes. Interest rates falling won’t do you any favors.
Inflation is in charge. The FED hiked too late and they will likely cut too early. Financial conditions have already loosened significantly. Inflation will be back and the FED will have to either pause or start a new hiking cycle.
Just in time for elections. Thanks Janet Yellen
It's actually the fed will likely wait to long to cut which is what has already happened and the reason that we are sitting 2%+ above the current rate of inflation. The FED is always behind what they should be doing, unfortunately.
@@JebSmith the Fed may have made the final decision, but check out Janet Yellen's interviews 1 day prior to their FOMC announcement. The signaling was clear.
Good assessment Jeb, but stop with the clicking noises please.
Hi @mikewalley7489, thank you for your valuable feedback, and I appreciate you taking the time to watch the video. I understand how the clicking sounds could be distracting, and I will make sure to address this in future recordings. I just emailed my editor.
Now here is a tip: The rates will be high for at least 10 years. The house market will be rather influenced by the inevitable recession(unemployment raise) than a rate cut. Once that started will be a long(years to come) when house prices will continue to decrease unevenly and not at the same time across the country.
The inflation data is all BS. Prices have doubled in most things. Yeah it’s slower but inflation is nowhere near what they say. Same with employment stats. So…
So do you understand what inflation is? Inflation is not high prices, inflation is price momentum. While inflation is declining , that's why you don't see prices ever return back to previous levels in most cases.
Oh ok.
@@JebSmith Yes but the way inflation is measured is a joke. The government doesn't care if food, energy and housing are getting more and more expensive because they absurdly claim its offset because you can get a 55" flatscreen for $199. The inflation rate has declined but it's still well over the FED's 2% target and financial conditions have considerable loosened with the 10 year down over 100 basis points without a single FED cut. Inflation will be back.
Someone recreated the scene from Home Alone when Kevin went shopping... and it average about 7.5% YoY inflation, but the FED tells us its 2%.
Yeah we'll see about headline inflation dropping further to 2.1%... I think you'll be eating crow on that one Jeb. You said it so confidently too
Jeb I am sorry to differ in this market if someone hates there house and if they are lock in at 3 or 4% rate they gonna stay . I believe that 3% rate is becoming a curse to future markets those people are out of housing market
It will be for most but not all......some will choose to give it up as rates trend down.
California Real Estate agent here. I witness many families sell their homes with 3% locked for bigger homes, accepting the new interest rate. Interest rate should not be a problem, families just need an education on how everything works plus you will always have the chance to lower your interest rate for every certain amount of time.
But what would happen if that property losses value ?would be able to refinance? The answer is no .
@@josegodinez7605 do you know how value works? Do you know how it correlates with rates? Do you know how an economic cycle works? This is what I mean about educating the mass!
@@KevinRodriguez-yc6zx Sorry buddy I’ve owned many properties in different times which I’m pretty sure you haven’t .
History always repeats itself there will be a recession things will get better!!!
Buyers who have a current 3% mortgage rate and want to move up can rent out their current home which means they would buy but not add a home to the supply side.
If that was done en masse it will drive down rents. However most people cant afford to carry two mortgages.
@jonathantaylor6926 Agreed. Let alone even get approved for 2 mortgages. Also, I think it's a bit unfortunate how much people underestimate what it takes to operate a rental property. Collecting rent is the FINAL PRODUCT. So much effort and resources go into vetting tenants, managing the property, etc. I feel like most people think landlords sit around just collecting rent and that's it lol.
Exactly what my neighbor is doing
@@ChristianC-gy1ym I think if people can swing it keeping the house and the low rate is worth it. There are easily people who refinanced and their mortgage is $1,900 and they could get $2,600 in rent. But like you said people need to get approved for this and most people don't have downpayment money without selling their existing home.
@@jonathantaylor6926 keep in mind if they are moving into the new home they can put as little as 5% down.
How about the cooperations or the thousands of multiple home liners that bought a bunch of properties to rent out or use it as Airbnb ? Since a lot of cities and states are becoming stricter about renting, those people could consider selling their extra homes
Absolutely, there's a definite potential for companies or individuals with multiple properties to consider selling, especially if they're facing tougher rental regulations or restrictions on short-term rentals like Airbnb but that said, there are only 1.4M short term rentals so in order to have a meaningful impact, you need them all to sell at the same time which won’t happen.
If history repeats itself, by the time they pivot, the damage is done, then unemployment rises fast. I don't agree with you about a soft landing, seems unlikely. We will see..
Housing has pulled future appreciation forward. You can’t just call that the new benchmark for more appreciation. It’s nuts.
You can invest in Real Estate in Africa. Loads of opportunities here foreigners
No such thing as a "soft landing", that's political speak!
So what happens if we go into a mild recession? What is that called?
Tenderhearted slowdown ? ..... This is as soft as you could get soft. This could have been a hyperinflation.
I have heard other youtubers talk a lot about 'shadow inventory' . They say there's this huge bottle neck of inventory no one can see that is going to suddenly flood the market (new builds, air bnbs going under, retired baby boomers, foreclosures coming, etc.)
However , I live in las vegas and it seems to be picked on a lot and touted as 'a metro that's over building'. We are living in our second area in two years both new construction areas. Houses in any new build areas we have lived or seen are not sitting empty, they are filled as soon they are built. A lot of our neighbors we have met in both neighborhoods came from California where you can sell high so the 'high' prices here aren't as much of a stretch as they are for others. So anyway, I have a hard time believing their other research is true idk 🤷♀️
They are all full of 💩.....I've been hearing about shadow inventory for 12 years. There is no shadow inventory
@@JebSmith interesting!
You should make a content on how to earn 6 figures in monthly profits cos I've been reading about investors making up as much and I'd really love to know how to such substantial profit in this current market
that requires a fair amount of research and good market timing.
Buy low sell high. Or something like that
Stick with a good company by either not selling when it’s going lower and/or buying more at that time. Almost always the good well managed companies will come back strong at some point. The other is to buy when the markets are tanking and in downturns in the economy. View that as a time when you are getting stocks on sale
@@CastilloBrood If you don’t mind, how exactly does this work ? and how profitable have you been ? I would love more info about her services.
@@CastilloBrood I just looked up this person out on her website of curiosity, surprisingly she seems really proficient, I thought this was just some overrated BS, I appreciate this.
Waste of time.
Americans haven't gotten a raise in decades, and 2024 will be no different. I agree houses will go up in price, but no one should buy anything.
Wage growth is averaging around 3 to 4% per year. If you're not getting a raise over the last couple of years, then you need a new job
@@JebSmith Sure folks are getting raises, but they are not on par with the increases in home value.
Only 1 time since 1929 has housing ever declined. My bet is it's a great time to buy a home while they are still cheap. There is pent up demand and tons of investors who are ready to buy even more homes
💪🏼💯
Inflation is in charge.
Lmao 'pent up demand'. Why exactly is the demand 'pent up' when houses, as you say, are 'cheap'?
During that period we also we're not looking down the barrel of a huge declining birthrate that we are going to be coming up on real soon. Not bringing in enough illegals to offset the birthrate. And all those single homes are going to be overkill and overpriced for a single person with no kids and 80k in student loan debt. And I never addressed the inflation rate increasing cost of everything increasing. The dam will break but when is the question.
I see crash up of 10% in housing prices Jeb.
Those waiting for a Housing Crash or a steep drop in prices are going to be very disappointed in 24 . Neither case is possible with a Fed that is going to be cutting Rates . A decline in Rates will lead to a dramatic Rise in the cost of Homes as perspective Buyers and Investors rush into a Market with few Homes for sale . Young people wanting that 1st Home will once again be the real losers .
You forgot several important things. Once rates drop to 5%, homeowners with golden handcuffs will sell enmasse, finally free from their prison. Inventory will skyrocket but all those that they thought that was on the sidelines have come upon hard times with depleted savings due to more layoffs, student loan resumption and massive inflation. Sorry to bust your bubble but prices will drop.