PRICED OUT: Families in the Houston area describe how difficult housing market is

Поделиться
HTML-код
  • Опубликовано: 9 сен 2024

Комментарии • 123

  • @Gltokensp06
    @Gltokensp06 2 года назад +46

    There is NOT an inventory problem. There is a problem of investment firms purchasing a significant chunk of affordable housing to then turn into rentals. They have made housing into a commodity and there needs to be legislation about it.

    • @alwaysyouramanda
      @alwaysyouramanda 2 года назад

      The constitution was amended ages ago to allow people of color to buy and own property-
      Seems like it needs to be amended again
      No one can purchase and own while New York investors hoard everything! The “rent” leaches should be kicked out of the country entirely. They do nothing for the GDP. They don’t pay taxes on the rent money they suck from the majority.

    • @jameslocklear5298
      @jameslocklear5298 2 года назад

      Which communist country you are from? This is free market and free country. Corporations and individuals have FREEDOM to invest real estate. You just wanna ban corporations this making them higher taxes to punish them so you can take advantage of?!?! Corporations and investors are the REAL HARDWORKING FELLOW AMERICANS, not freeloaders who only wants free handouts SMFH

  • @TheBest-zl3rm
    @TheBest-zl3rm 2 года назад +20

    The problem is people from other big cities moving here. I know people who moving to Texas from NYC, the house over there cost like 800k to more than 1million and when they get here they see 300k, 400k, 500k houses, they call them big and cheap and willing to bid up the price for the house they like. Even after buying a house cost 500k they would still have cash left over for selling their NYC house. In their mind they are comparing the house price of Texas to NYC but for the local people house price has never been this high…

    • @simplyroyalty7458
      @simplyroyalty7458 2 года назад +1

      Yes and California. I heard a lady say a friend if hers moved from California sold his home there and bought 4 houses in Texas. So yes to them it's cheap and very affordable so Texans are priced out because we don't have that kind of money and our minimum wage is lower than theirs so they do have a lot more disposal income and savings.

    • @Friends46488
      @Friends46488 2 года назад +1

      Yep!

  • @RLsmith-cs3ry
    @RLsmith-cs3ry 2 года назад +48

    “Own the home but don’t own the land” sounds like you own the car but you don’t own the wheels.

    • @chrisc1896
      @chrisc1896 2 года назад +9

      Exactly. It’s a no for me. I rather own the land than the home.

    • @Unknown-il3hq
      @Unknown-il3hq 2 года назад +1

      How is that even possible lolzzz…. Will you be allowed to move your home lolz

    • @qualitytouchpainter
      @qualitytouchpainter 2 года назад

      Communism?

    • @RLsmith-cs3ry
      @RLsmith-cs3ry 2 года назад

      @@qualitytouchpainter stupidism.

  • @MaryThiboudeax
    @MaryThiboudeax 2 года назад +11

    If you’re budget is $150k in Houston, TX you better be able to do your own rehab because a move in ready home is delusional

  • @jwill6312
    @jwill6312 2 года назад +38

    Houstonians can no longer afford to buy homes in Houston. Low inventory is not the problem and building more homes is not the solution. Homes are being built in literally every empty plot of land. Everywhere you look, there's a new housing development.
    People from NY & CA are selling their shacks for 500k plus, moving here and pricing us out of the market. Even if you have everything together...credit,income, down payment, and get approved for the loan, you can't compete with someone showing up with a cash offer and enough cash to go well over asking.

    • @rene2280
      @rene2280 2 года назад +2

      Yeap cash buy outs!

    • @user-pw2gx4ej4o
      @user-pw2gx4ej4o 2 года назад +3

      Sooo true. I’m a houstonian and these house are ridiculously high as hell!!

    • @TheMm8107
      @TheMm8107 2 года назад +3

      Facts! It’s pissing me off! My husband and I are stuck in a damn 1 bedroom apartment because all these people are coming here and edging the natives out!! I’m over it!!

    • @noahbayless6134
      @noahbayless6134 2 года назад +2

      We need to stop giving out Texas id’s so easily in CA it takes a someone a year to get state id eligible.

    • @screwstone7136
      @screwstone7136 2 года назад +1

      @@noahbayless6134 I’ve seen so many out of state plates in Houston recently!!! California and NY mainly and they can’t drive good ‼️

  • @eggheadegghead
    @eggheadegghead 2 года назад +44

    Houston area's avg income can't support the housing price. It seems all those houses were purchased by people from other states (CA, NY). It seems weird when you factor in that 3% property tax each year.....

    • @jwill6312
      @jwill6312 2 года назад +3

      Bingo! Houstonians can no longer afford to buy homes in Houston. More homes is not the solution . Homes are being built in literally every empty plot of land. Everywhere you look, there's a new housing development. People from NY & CA are selling their shacks for 500k plus, moving here and pricing us out of the market. Even you have everything together, and get approved for the loan, you can't compete with someone showing up with cash offer and enough cash to go well over asking.

    • @chocoboqueen5498
      @chocoboqueen5498 2 года назад +3

      It was the PPP loans. Investors

    • @bosstravels36251
      @bosstravels36251 2 года назад +1

      You are so right and the gentrification is also a problem. They are coming into low income neighborhoods and building townhomes and condos starting from 300,000 to half a million dollars. Knowing that the people of and around that community can not afford that. People that work hard everyday and try to do the right thing are losing. They do not have the income because Houston does not pay the majority of their employees enough or are not willing to give them a mortgage. I have been trying to buy a house for five years. Credit good, money saved, and still I was denied by habitat for humanity. Now I am working with a real estate agent that has good completion ratings.

    • @bosstravels36251
      @bosstravels36251 2 года назад

      @@chocoboqueen5498 And the scammers honest people cannot compete with theives and liars when the housing market is a first come first served market.

  • @gokoronkwo
    @gokoronkwo 2 года назад +8

    Another issue impacting Houstonians is migration. People from other parts of the country are moving in and willing to pay more than what a Houstonian would just because the market they are coming from...real estate is much higher. Texas consistently has been in the top 5 growing state populations (as a percentage) over the last 5 years.

  • @oz1018
    @oz1018 2 года назад +14

    These folks are about two years late, I will hold and save my money and wait for one to two years before buying. The interest rate is just too high and the fake inventory shortage is about to be exposed.

    • @p2a0p2e0r1
      @p2a0p2e0r1 2 года назад +2

      Yes! Good idea!

    • @shazarkhan5741
      @shazarkhan5741 2 года назад +2

      Agreed. Everything will drop. Don’t know why people can’t wait one year

    • @oz1018
      @oz1018 2 года назад +2

      @@shazarkhan5741 It is the fear of the unknown and the pressure of society has on people you need a house now. you said it best wait 12 months maybe 18 see how it plays out, save more money cut your costs.

    • @shazarkhan5741
      @shazarkhan5741 2 года назад

      @@oz1018 exactly

    • @diegolara4202
      @diegolara4202 2 месяца назад

      @@shazarkhan5741 It's been a year now, how's it going?

  • @chris2214
    @chris2214 2 года назад +8

    The problem with TAXES I meant Texas, with all these property price sky rocketing, the property taxes will drive many Texan out of the state. It has #6 ranking of highest property tax rate. Combine with MUD taxes on some areas, It's one of the most UNAFFORDABLE state to live in. Believe me. Some areas have above 3% property tax rate combined with 0.8 or higher MUD tax rate. CRAZY STATE lol

  • @AjitMD
    @AjitMD 2 года назад +25

    The problem is that the government printed way too much money. Everybody like private equity, investors, prospective buyers are chasing a limited supply. A lot of folks don’t have the income or the income security to buy their dream home at bubble prices. What happens if they get laid off? We are likely to get a recession soon with Fed raising interest rates. Best is to rent modestly, increase savings. Buy when the economy craters.

    • @kiloromeo4725
      @kiloromeo4725 2 года назад +1

      The government does not print money. The function of creating currency either digitally or in paper form is the responsibility of the independent Federal Reserve Bank of the United States. Europe has a similar entity also.

    • @mikerice5298
      @mikerice5298 2 года назад

      @@kiloromeo4725 Fed 26 trillion to banks and company and QE for years
      For to big too fail

    • @rene2280
      @rene2280 2 года назад

      I was doing everything like this man and got fired out of my job! Have to save and wait.

    • @MBT372
      @MBT372 2 года назад +1

      I was renting modestly but my rent went up by $600, my rent is higher than a mortgage.

  • @gokoronkwo
    @gokoronkwo 2 года назад +1

    US dollar has weakened, global inflation, COVID caused many landlords to not get rent, employees wages haven’t risen much, property taxes through the roof, property insurance rose through the roof, in Harris County many apartment owners have 99 year Agreements with Harris County to not get charged property taxes so that tax burned is being pushed onto home owners. I build here inside city limits and land prices are through the roof so if you’re not getting subsidy money/land from the government costs are up substantially. It costs $100K to buy a lot today and you’re spending $20K in fees/permits, another $50K in lumber...you haven’t poured cement or hired any labor yet...so you’re almost at $200K in cost before moving a muscle. We do need more homes built/renovated in Houston area. The cost to do so isn’t cheap. Hope things get better for all involved.

  • @MrTwitch62
    @MrTwitch62 2 года назад +2

    Fake price hiking. The homes around me are still the same crappy homes from the 1920s and earlier, They put a facade on front of them and covering on cabinets, then jacked the price up so what was 50g 5 years ago is now 300g and nothing really changed. One guys whole front fell off one house now 500g.

  • @migue5955
    @migue5955 2 года назад +1

    Plus the city makes it hard to build with it's snail permitting.

  • @albarociomolinayate6572
    @albarociomolinayate6572 2 года назад +1

    This is getting crazy, we purchased a house 4 years ago, appraisal never go higher than 10k over a year until last year when go up $100k, many people will say "good! Yo have equity" but taxes that I will have to pay next year is almost 10k!
    I do not think this is fair. Salaries in TX are still very low compared with the national average!!! So we will have to work just to pay taxes! Not mentioning prices are getting up because inflation... What a mess....

  • @kimberlyguillen7324
    @kimberlyguillen7324 2 года назад +4

    We all will need serious guidance of buying homes to know we are safe to move into our new home. I have to be moved out like fast but for knowing nothing is a scam my main worry. I have fur babies also. I rescued them 5 years ago.

  • @Granola_Girl_Cheer
    @Granola_Girl_Cheer Месяц назад

    in 2007, my parents were able to get a 2-story 5 bedroom house for 160k. Today, any house that's any the 160k range in the Houston area is a fixer upper or nearly condemned. That house they bought back then? Since we moved out in 2019/2020 when it was sold for 250k, it' value has risen to 330k.
    Crazy part? Not much was done to it aside from cosmetics. Much of the structural aspects still need to be worked on. It is outlandish to think how of how fast the housing prices have risen.

    • @Granola_Girl_Cheer
      @Granola_Girl_Cheer Месяц назад

      Also another problem with our market that I have yet to see anyone mention is the builders creating nothing but 250k + homes. What happened to the simply built 60k home? Or even the 100k ones? It's still possible to build houses for that amount, and yet we don't see builders doing it because they are greedy and want as much money as possible. Then they become surprised when their houses are not selling because the prices and extravagance is too much. 2-3 bedroom 1 story homes need to make a comeback. Not everyone needs on suite bathrooms, walk-in closets, or a spacious open floor plan. Stone accents and top-of-the-line appliances are not needs either. We need to forced builders to go back to building starter homes rather than these houses that only those in the upper middle class can afford.

  • @fusgersnabble224
    @fusgersnabble224 2 года назад

    Housing prices in Houston have sunk in the last 30 days. Prices are droping about 5% not a good time to buy

  • @shaunleebabineaux8351
    @shaunleebabineaux8351 2 года назад +1

    Finding a good job in Houston is hard too! Sad 😢

  • @chriswalker6389
    @chriswalker6389 2 года назад +1

    Own the home but not the land?

  • @ddellwo
    @ddellwo 2 года назад

    We purchased our Houston area home brand new back in 2002. The wife and I could use a tad more room at this point, but not enough that we are willing to give up our 2002 housing costs in exchange for the crazy home prices of today! We’ll sit tight and keep our low mortgage payment!

    • @ss_whole
      @ss_whole 2 года назад

      You've been in your home 20 years and haven't paid it off yet?

    • @ddellwo
      @ddellwo 2 года назад

      @@ss_whole - Nope. Refinanced to a 15-year-note along the way when rates were rock-bottom, so no real incentive to pay it off early versus other potential uses for the money - paying cash for vehicles, contributing to my son’s college fund, etc. My only goal for payoff was to have the note gone by retirement, which will be accomplished at least a year in advance by simply paying it off as scheduled.

  • @captainobvious5349
    @captainobvious5349 2 года назад +9

    All these buyers are in for a very RUDE awakening in about 3-6 months when the bubble starts to burst.
    Houses in my area have mysteriously gone up over $120k in 1 year. Great for sellers, and buyers "think" they are getting deals, ha, try again!! 2009 is right around the corner and I can't wait to take your overpriced home off your hands while you bring a check to closing!!

    • @MK67934
      @MK67934 2 года назад

      Well most home owners will hold on houses to ride unless they lost their job and you might be of theones loses a job among many waiting to buy houses hoping foreclosures and would have move in with your parent

  • @joez7407
    @joez7407 2 года назад +4

    they should have titled this "Hoping, Wishing, Dreaming"... i mean it's absolutely astounding at how tone deaf politicians are in these urban areas. everyone wants to drop this back on builders but the reality is - they're always - ALWAYS going to pursue what the demand is relative to profit margins. that's called business. good business, the kind that doesn't have you closing up shop telling 50 or so guys there's no more work. i'm all for 'affordable housing' in areas - so that people can get starter homes, or just have a home in general... but that's on the politicians of these areas - predominately Democrats who are in power in these areas - who need to step it up and create incentives within these locations that catch a builders eye. If the incentives make good business sense to these builders, they will take that action all day long. Personally right now - if you're in the market, and you can wait things out another year - do so. Have the understanding that 1. everything is cyclical in this country, what goes up must go down, and then goes back up - rinse/repeat. 2. you would be looking to get a deal on a home because ultra-slow demand. 3. you probably are going to be taking a mortgage with a much higher interest rate. calculate 5 yrs at that rate before you would be in a position to refinance. can you do it? the drop in price may offset the rate hike and waiting things out a year may give your family an opportunity to chipmunk some additional cash to a down payment. tough times ahead whichever direction people go. going to get bad. the government put us in this position - very important you not let them forget that.

    • @merdith6
      @merdith6 2 года назад

      The people that voted for our government are responsible

  • @jeanettesmith765
    @jeanettesmith765 2 года назад +2

    A decent apartment costs a fortune.

    • @bashns7743
      @bashns7743 2 года назад +3

      With apt prices, might as well buy a home!

    • @jglee6721
      @jglee6721 2 года назад

      @@bashns7743 Home prices went up too so many people are caught with tough option either way. My tenant got lucky and bought a house in Dec 2021 and moved out.

  • @curiouspeople6441
    @curiouspeople6441 2 года назад +16

    with the new abortion laws in texas , this should drive away some " extreme Woke techy" to leave Texas . which should help out .

    • @badgalbecka
      @badgalbecka 2 года назад +6

      I hope so 🙄🙄uggghhhh

    • @CommieNextDoor
      @CommieNextDoor 2 года назад

      How will it help?

    • @Jess1234
      @Jess1234 2 года назад

      all liberals need to leave

    • @ddellwo
      @ddellwo 2 года назад +1

      Can we help them pack……???

    • @unabonger777
      @unabonger777 2 года назад +1

      then we can all go back to flipping whataburgers and living in cheap shacks.

  • @eradicator187
    @eradicator187 3 дня назад

    Times have changed

  • @alwaysyouramanda
    @alwaysyouramanda 2 года назад +1

    What goes up though :)

  • @gasparma2316
    @gasparma2316 2 года назад +3

    That’s why I moved out to the country recently :(

    • @Jess1234
      @Jess1234 2 года назад

      where did you move at

  • @waynewright2886
    @waynewright2886 2 года назад

    This is not to Happen in Texas & in Houston.

  • @mvito39
    @mvito39 2 года назад

    Overpriced homes that are valued against a currency rapidly in decline..

    • @jessicabixler1658
      @jessicabixler1658 2 года назад

      Actually with the fed shredding money now our currency is getting stronger slowly.

    • @mvito39
      @mvito39 2 года назад

      @@jessicabixler1658 🤣

  • @walidzein1
    @walidzein1 2 года назад

    "You will own nothing and you will be happy"

    • @unabonger777
      @unabonger777 2 года назад

      would you rather own something and be unhappy?

  • @michaelshrader5139
    @michaelshrader5139 2 года назад

    The problem is, too many people! What'd you think overpopulation would lead to anyway? smh!

  • @timothyhelgren6895
    @timothyhelgren6895 2 года назад +16

    *I'm 54 and I and my wife earn $170,000 bi-weekly returns from our digital assets portfolio but we are VERY worried about our future because of the gas and food prices rising daily. We have had our savings up high with the cost of living into the stratosphere, we are finding it impossible to retire. We can get by, but cant seem to get ahead. My condolences to anyone retiring in this crisis, 30years nonstop just for a crooked system to take all you worked for.*

    • @carolynschmidt127
      @carolynschmidt127 2 года назад

      I feel your pain mate, as a fellow retiree l'd say you’re gonna get there someday, Since you have a successful and reliable income stream that makes you money while you sleep…

    • @harrisongordon519
      @harrisongordon519 2 года назад

      It's actually quite impressive, I could use some info on your FA and name of income stream, I am looking to make a change on my finances this year as well

    • @timothyhelgren6895
      @timothyhelgren6895 2 года назад

      @@harrisongordon519 My advisor is Mrs Sarah Mary Mears and I found her on Bloomberg where she was featured and reached out to her afterwards. Ever since I and my wife have been investing in digital assets with her guidance and services and that’s how we get to earn that huge profits in space of 2 to 3 weeks….

    • @judypaulinesmith2627
      @judypaulinesmith2627 2 года назад

    • @timothyhelgren6895
      @timothyhelgren6895 2 года назад

      @@judypaulinesmith2627 You can easily communicate with Sarah Mary Mears directly on👇🏻👇🏻

  • @berylgreen1973
    @berylgreen1973 2 года назад +8

    My heart bleeds for these people that can't afford those four-bedroom suburban houses with two car garages! Oh the humanity!

  • @josephsmith4147
    @josephsmith4147 2 года назад +3

    Developers are broke 😟

  • @el_deplorablede_tejas1394
    @el_deplorablede_tejas1394 2 года назад +13

    Lets Go Brandon, FJB.
    You will Own Nothing and you'll be Happy -Klaus Schwab.

    • @Stringypete1
      @Stringypete1 2 года назад +4

      Has nothing to do with Biden.

    • @chocoboqueen5498
      @chocoboqueen5498 2 года назад +3

      Thank Trump and all the PPP handouts that did this.

    • @jessicabixler1658
      @jessicabixler1658 2 года назад +1

      Trump tax cuts, Trump lowering intrest rates.

    • @ddellwo
      @ddellwo 2 года назад

      Joe Biden - WORST PRESIDENT EVER……..🤬

  • @zerocool1ist
    @zerocool1ist 2 года назад

    Yeah that's called gentrification.

  • @MrDarryl90210
    @MrDarryl90210 2 года назад +9

    If your home-buying budget is $150k with a large family in this economy, that's just horrible! I recommend you make more money and have some other investments or passive income before you start making a bunch of kids!!! They're easy to make, but hard to support as inflation and the cost of living rises to an all-time high!

    • @markhenry7908
      @markhenry7908 2 года назад

      @Christopher if you are going to categorize someone try and at least get it right boomers are people born pre-1964 but I'm sure you prolly got that from tiktok God forbid you do research. also $150k in the 80's is $530k in todays money so yeah $150k budget is tough with a large family. that's the problem with you elitists is that you want everything given to you because you think everyone owes you. go out and get a job and earn it like the boomers did.

    • @zzizmyheart
      @zzizmyheart 2 года назад +4

      Even the 250k homes need work and are in less than desirable areas. I would have never thought that my 300k budget was not enough to get me into an area with decent schools and a home I didn't have to invest another 50k into in order to be happy. This market is crazy! And rentals are over 2k for small accommodations. You honestly cannot win in this market.

    • @lelelum4103
      @lelelum4103 2 года назад +6

      No! They need to raise pay rates to keep up with the cost of living! Even having a degree with yrs of experience I can’t make what my mother made at my age and she had no degree

    • @jessicabixler1658
      @jessicabixler1658 2 года назад

      I bought a cute 3br ranch for 126 in my 20s'. Unfortunately I sold too early but now that same house is about 400k I'm in my 40's. We are trying to get a home for our family now...

    • @MrDarryl90210
      @MrDarryl90210 2 года назад

      @@lelelum4103 If that's your mindset, you will never earn enough to achieve your goals. Nowadays, a 9 to 5 is only a starting point. People are getting creative and opening businesses to go over and above. Those are the smart ones. Foolish people keep thinking they need to get paid more in order to pay more bills while hoping to have something left over years down the road. SLAVE MENTALITY!

  • @lendaryreviews
    @lendaryreviews 2 месяца назад

    😂cartels own them (plus 200k homes own by prostitution) 😂