Great page - our rv spot is reserved, banner ordered for the #gymratfitness and looking forward to meeting everyone #economicninja (This is #financialfitness better half 😂) Have a blessed day
@ in 1972 I paid $52,000 for 60 acres of land and it had a 3 bedroom house. In 1987 I paid 30 thousand for a 3 bedroom house in 1992 I paid 57 thousand for a 3 bedroom 1 acre
@@cypherpunksteve4959 just north of Charlotte NC. Concord, China Grove, Salisbury, Landis, etc Zillow actually has reduced their yearly forecasts. Salisbury dropped to below 9% apprecation. China Grove dropped to under 2%
I have seen price reductions of 2-100+k - some of the largest reduction was absolutely price overreach on crap listings... other larger reduction was due to extremely high end homes (PNW multimillion dollar homes).
He is so right. It’s why I kept my first fully paid home. It was tempting to sell it last year and thought hard about it since I’m leasing now due to job assignment 80 miles away. I could have sold it but thought, if SHTF, I at least have a home.
In SHTF time, you may have a house or not, we dont know. But, it seems wise your plan, likely home survives if you are in decent part of country or town.
SHTF your home better be in a rural area, not the city. Cities will be devastated from the rats that will riot and plunder, think Portland except on a larger scale and in burbs. IMO.
#RealEstate According to the Federal Reserve Economic Data the "Median Sales Price of Houses Sold for the United States" (MSPUS) in 1988 was... Q1: $110k, Q2: $110K, Q3: $115K, Q4: $113.9K.
In California we bought our new home for $129000 in 7/85. After landscaping and fencing we sold in 9/89 for $2490000. That home is now worth $989000. During 2004 to 2005 our home market went up 32%. This is in the bay area. I'm in real estate and I felt the looming crash starting in July 2006 then it slid like avalanche and destroyed people in many ways
Will the government allow it? It may be localized. In Massachusetts: www.bostonherald.com/2021/07/29/terrible-tidal-wave-of-evictions-to-hit-massachusetts-as-ban-expires-with-19000-cases-pending/
Hope those people buying in Dallas realize property taxes are outrageous. I learned the hard way back in 2007. No way I would buy again here. One more word of advice. If property values do drop in Dallas, find those comps to challenge the tax office when your property is assessed.
I wanna get me one of those homes up in the hills looking down upon all the new homeless camps popping up. ruclips.net/video/ohZj-lf_9Ao/видео.html Sorry I'm a little sarcastic but just watched a You Tube where this is happening. When I lived in Escondido in late 90s could get a hillside 3/2 or 4/2 along I-15 for low 200s! These days they are $800K-$900K and not even near the coast.
I don’t see how this massive shortfall in supply we have gets replenished. Building costs are only going up with inflation and the amount of bad debt compared to 2008 is negligible. I don’t see a repeat, but then again you can’t see a bubble when you’re in it.
I also want to bring up the hidden costs of maintaining and upkeep on a home. If you move into a fixer upper and your mortgage is less than rent, expect additional hidden expenses on the backend. Water heater/ HVAC/ Garage Door are most common. You'll find if it hasn't been maintained well you'll be dropping $1000+ here or there every so often. Make sure you budget for it so it doesn't go on a credit card you can't pay off because you bought a house you couldn't afford
It would do us all good to study what has happened to real estate markets in countries who have experienced hyperinflation. So few in the US understand what’s even happening rn. People in my area are bidding the prices OF RENT higher just to get into a damn rental. Wake up!! These are unprecedented times.
Reasonable forecasts. Problem this time is it seems Fed will just print money to hold up value of all assets, it’s hard to say if massive inflation or crash in asset prices will happen. If inflation happens, I’d say invest in real estate with some debt is not a bad move.
in 1970 Gas was .37 cents per gallon, the federal minimum wage was $1.60 per hour, average home price was $24,640, Average Cost of Four-Year College $367.00 per year, average new car cost around $3,542 dollars And I'm here to tell ya times in the 70's were tough and money was tight.
In my area (rural Idaho) you cannot buy a house with small acreage (2 to 10 acres) for under $200K. I mean, not even a single wide trailer, if there is ANY kind of house on it you are starting at $250K. I know that may sound cheap compared to Cali, but that is NUTS for this area. There is NO WORK. We were a logging, mining and mill community and at this point, pretty much a county of all ghost towns now. All these rich folk pouring in and building McMansions are in for a BIG SURPRISE in a few months. We get winter here. I mean, like, real fkn winter and they just have o idea...
Good video. Alot of people are locked on sales numbers. Yes , sales are down. But prices are still super high. Due to lack of inventory. Imo. Nothing changes until the inventory goes up. And there is so much demand built up. Not sure how that happens.
The comfort of life? So true. I have been having second thoughts on going through with the sale of my home here in Pennsylvania. I don't think I can back out now if I wanted to given the paperwork is signed and closing is in two weeks. A few weeks back after watching the home prices in SW Florida jump thousands upon thousands over the past few months, I have felt that I have now priced my family and me out of the market. Selling now might have been the dumbest thing I could've done. Especially since renting a 4 bedroom home in SW Cape Coral, FL., costs on average between $2,500 - $3,500. That's triple my mortgage now, which was set to be paid off in less than 5-years if we stopped paying extra on the home. While I share your thoughts and feel the market is going to pop, I think I will be forced into renting for a long time, thus eating into the profits of the sale of my home, and no longer feeling the satisfaction of being a home owner. Hmmm....
Houses aren't stocks. It blows my mind people are selling their houses to rent in the short term waiting for a potential crash. What if prices don't go down or only go down 10% - 15% before they rise once again... so your going through all the fees and heartache of moving for a minimal gain crs just not selling. For this to be worth it you literally need a total collapse in house prices which absolutely not a certainty no matter how much you think it is.
@Crushing Housing Losses in any hot city no they aren't. I can't speak for more rural states but in Texas and Florida its still dumb. Anyway my point is you shouldn't gamble your primary home on the bet of a potential housing crash. A housing correction is not enough for this move to pay off you need a straight up collapse and crash. Micheal Burry you are not - he isn't even right most of the time. With your family home its just not worth betting. There are less dumb risky ways to make money.
@Crushing Housing Losses I'm confused, are you putting a headline from 2008 to try and say history will happen again? Despite there not being a subprime mortgage issue? Despite the requirements to get a mortgage being more or less the most strict it has been in history? Its so funny to see people so confident over something so macro economics dependant that its dumb to bet on. Here is an idea don't overstretch and buy a home you can't afford and don't financially bet with where you call a home. Shocking investment advice I know...
Interest rates are going down further I refinanced at 3:35 took a lot of money out rates going to 225 today they're going lower when the rates reach 0 the FED will nationalize their debit side of their balance sheet back it up by the asset side this is your hyperinflation moment this is when you buy gold and silver which will be at their bottom premiums are another thing
My Local Area.. 30 years No one really moved. Couple here and there. There's 70 homes in my neighborhood.. 35 have sold in the last 18months for Double what they would have before the Mania. People are Moving from Big city to the rural area I live in. But There's No high paying local jobs!!! The weather is the shits 90% of the time. There was a reason our homes had been stable pricing the last 30 years. The Ones who sold. All Retiree's and I dont blame them.. But there is no where to go. So a few have gone to nursing home and a few moved in with there kids. I Don't know where the rest went but hopefully away from here.
I'm in a seriously hot market up here in Portland, ME and I've also noticed listings lasting longer on the market and I'm getting price reduction notifications from all the surrounding towns. I think it's going to take awhile but I'm hoping for a substantial correction so I can execute my plans.
@Crushing Housing Losses I call the guy who builds it the builder. I call the guy who digs out the dirt the excavator. To me a contractor is a software person who works a temp job. My point is, builders are busy as hell. Will falling house prices help or hinder that?
Would love for your listeners to comment on various areas regarding real estate… As I’ve mentioned before, we are always six months behind California! So I try to keep up what is going on in other areas to see what is coming here… We are in North Louisiana! Great video #economicninja
But.....you can't have prices come down too much if the interest rates are 2.5%....and a $600k home rents for $3k/mo.. There has to be a collapse in rents too. I haven't seen that yet. It's like suddenly we have people everywhere multiplying and paying more for everything.
It depends on the geography of the houses in South Carolina the housing boom shows no stopping because everybody is moving into the South they're even moving in from Texas
Hey Ninja love the videos good sir please keep it up.!! On another note I read that in Weimar Germany they readjusted all mortgages to the multiple used to increase gold price. So if gold was readjusted to 5x today’s value so were mortgages. Not saying this will happen but the gov can try anything.
@@AaronAaronsohn Believe me you havnt a clue! You are either a Canadian or you dont know how to spell! Neighborhood... not neighbourhood. Cleveland is a piece of shit, I assure you!
Just like Atlanta, the young people love the inner city...until they get the real experience like the girl got in Atlanta Piedmont Park walking her dog a couple nights ago, she was stabbed to death. They sad part some of the idiots said I can't believe this happened....thats what makes you a sitting duck.
People don’t connect the dots. The real estate market as virtually ALL bubbles are created by the Fed. Back then it was the advent of the MBS, today they’ve simply moved on to different targets, but real estate is still FULLY fueled b y these criminals. as The Ninja says, this too will end in tears for the public, just like last time.
Ninja: You say if you own your home or are locked into a mortgage, then no-one can take the home, but that's not correct. The first problem is property taxes which can rise dramatically. If you don't pay them, they will take your home. Then there are HOA fees (for people that are dumb enough to buy a home in an HOA). That's another big and increasing cost that you may not be able to pay in the future. Then they can force people on wells to pay for and use city water hookup (like they are doing in Cape Coral, FL at $20,000 per house), then they can introduce green legislation and force people to upgrade their homes which can be astronomically expensive.
Max, interesting comment. I recently sold my home here in Pennsylvania and am set to close in two more week's. My plan was to move the family to Cape Coral but with rising home costs month over month I decided to go rent a small home from a family member in Alabama. My hopes are that the market stabilizes in the Cape. I have been looking at homes via Pinnacle Building Solutions, and avoiding HOA is a must for us. However, I read about the well and septic to city conversion and started to become a little confused. It looks like the SW portion of Cape is currently making it mandatory to switch. The options seem to be pay the $20K bill at once or add it to your taxes, which brings up a tax assessment issue on some homes we have looked at where we are now responsible to pay the balance off. I looked in the NW and most if not all seem to be on well and septic but when building a new home you pay to have that installed and then nothings stopping the city from telling you in 2 years or so that you have to pay another large fee ($20K) and pay for the city water and sewage connection. Ugh what a PITA. So, I can see your frustration with HOA and other future legislation. Now, I'm wondering if we should look more inland or in another city altogether. The problem we have noticed moving more inland is it raises the probability of paying HOA. :/
@@na93prepre I am currently renting in Fort Myers. I was thinking of buying a couple years ago, but glad I didn't. Water and sewer prices are going through the roof. Plus, your AC is always on here. My goal is to leave Florida and buy a farm in Tennessee. If you decide to come to Florida, then I would recommend getting a house with land north of Ocala.
You are absolutely right. Port Charlotte is doing the same thing. We just bought a lot there. Luckily there is city water hookup .No sewer though. Have to have septic. City sewer is 8 to 15 years away from where we bought.
@@paulallen3639 Lol. I don't blame you. Everything you say is true. I looked at property over there. Never really liked it. We chose Port Charlotte, it's not as bad other than the gator we have to evict from our lot. Boca Grande Beach, Manasota Key Beach, plenty of boat ramps. I'm 60 getting ready to retire. NC is where I really want to go but wife can't handle cold weather. Cheers friend.
Some HOA fees I like because 1. Are a must for condos and townhomes (more economical mortgage than SFH) and 2. they keep landscaping upkeep uniform which helps maintain property values especially in an upcoming market where even $500K+ homes may be sitting for a long while unattended. However I never ever wanted to pay HOA in an old aging condo on FL coast that cost more than the mortgage itself! Yes taxes can eat any of us alive.
Owning a house without debt and owning a house with debt are 2 different things. If you don't have debt and you like where you live, you have no reason to stress yourself - at least if you have adequate income through the times. But then talk about debt and talk about if you have job or not, there can be big effects you surely want to pay some attention so you don't end up in very bad position. There can be changes to the pricing of things, and you do not want to end up in situation having more debt than the price of the property is.
Is also Ok to have enough money in the bank to live off of in retirement while paying a decent mortgage versus most of savings tied up into a home (not liquid) without much savings. Of course if can do both (home paid off and plenty of savings) is best scenario. I had a friend one time tell me "let the devil pay" when I asked him why he didn't didn't pay for his home in cash with the proceeds from the sale of another home.
@@globaldj719 Yes it is also fine, if you have fixed expenses (mortgage) and fixed income (retired income). The possible price change of the home doesn't do much effects. Only if the living expenses change otherwise very drastically, that will dry up also the ability to pay the mortgage, but then you should check if the income is tied to some index following the living expenses. The bad position comes if all money you get comes from labor market where things happen easily to worse having no guarantee of anything, and you have big mortgage on home bought on top of cycle and most of mortgage still unpaid. But, there is always solutions, just google "jingle mail" there is procedure to get rid of overvalued property, but I do not know if it is still available option in some states of USA.
I hope inventory goes up! But if we see a lack of houses now while people can make bank then why would we see more inventory when people wont make anywhere near the profit they can make now?
@Senior Housing Analyst my bad..what i meant was ... we cant find houses while sellers can walk with 50-80 grand cash when the deal is done... why would we find houses *when the sellers wont even recoop the remodel fees/break even when the deal is done?. It would make no sense to sell anymore... was that a better wording? Lol
@Crushing Housing Losses ahh what ever floats your boat and allows you to deter away from the point i was simply trying to make .. gotta love the trolls of the internet
This time around is different. During the last bubble Lenders were giving out loans to people with super low credit scores and didn't show proof of income. They called it liar loans because people were lying about their income to buy a house. So they couldn't afford it to begin with and people were getting adjustable rate mortgages and as soon as the FED raise interest rates they defaulted on their loans. Lending requirements are much tighter now. You have to have a higher credit score you have to show proof of income. I guess only time will tell
@@EconomicNinja they usually require up to two years of bank statements though so they're not going to approve somebody doesn't have a nice chunk of money in the bank
Started just over a week ago around me. One day last week, I noticed (at least) 3 new homes with For Sale signs in the yard along my route. Nice homes. Like $500k+ in a good area. Pretty sure 2 of the 3 are already sold.
@Senior Housing Analyst, thankfully (for the time being) my current area (of NJ) is holding strong. The inventory is still non-existent and the school district is highly sought after. I'm in a bubble inside a bubble!
@Crushing Housing Losses, I can promise you, my area does NOT have a record high inventory, it's the opposite. Like I said, my specific town is a bubble inside a bubble, specifically due to the school district and new construction.
Sure, you can still lose your house even making your payments.....What about property taxes and insurance where you have little or no control. Inflation will make it hard to maintain your home...And with crazy government, police and fire protection are in serious doubt, without these, your home worth next to zero. This is not to mention the waves of homeless roving around sleeping on or next to your home, in some cases they move in....Just be informed fully, this is a very different century than the last one.... I like the Ninja videos, but need to lay out the whole case, sometimes sound too much like real estate agent.....
So Ninja. When you going to run for office bro? More and more non politicians are running and i think if allowed in we will see real change through those people
Are you taking into account hyper inflation? Even if the houses are worth “less” hyper inflation would kind of make the crashing home prices moot, right ? You tell us to subscribe and comment yet you never address any of the comments...
Zillow purchased a home for 736 (closed in June) and it came back to market 2 weeks later. They listed at 809 and then price drop to 799 and now the price dropped again to 749. Nobody still interested, pretty decent house, but felt like Zillow was in a hurry to make profits. Even if we quote 700k I think Zillow would still accept it taking a 36k loss
You Yanks think you have a housing bubble? Take a look at Canada's, it's down right terrifying. We went sideways when you guys had your last correction and kept on trucking straight up.
Funny how people are being told by real state agents “it’s a great time to buy even if houses are high”. Saying they might nit be able to find a house later…stupid people
The rich sees an economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, Crypto currency and Forex trading which is the wisest thing every individual needs to do and it's real profiting
If anybody wants to buy kudzu properties really cheap, maybe you could hire Ed the human Sasquatch looking goat to clear the problem 🤔 I am getting good at it... powered by BONE BROTH AND BRAIN OCTANE. Did I ever tell y'all about my Nutrient Dense Keto diet?
@@yanmifebritt3112 With this NDK diet I have lost 40 tons of friends, that is 482 got to be some kind of world record... but it does look like you're a true friend... need to get back to the patch before the heat gets unbearable, got hongry, if everyone would get vaccinated when told they could simply blame mass health disorders on covid itself...
If you want to attend the Dallas Summit here is the link economicninja.com/
Great page - our rv spot is reserved, banner ordered for the #gymratfitness and looking forward to meeting everyone #economicninja
(This is #financialfitness better half 😂)
Have a blessed day
@@chrisnstac I was wondering if finance had a favorite fan with all the comments I see, lol!
I waiting for the crashes in DFW. 1800 sf home is $400k in Collin county.
I'm STILL waiting for you to post where 25 million excess, empty and defaulted houses out there?
@@dls951 where did you get that information?
@ in 1972 I paid $52,000 for 60 acres of land and it had a 3 bedroom house. In 1987 I paid 30 thousand for a 3 bedroom house in 1992 I paid 57 thousand for a 3 bedroom 1 acre
So what, the currency or dollar rapidly losing value each day...
I've noticed in my area listing price reductions are coming down by about $5 k.....the market is beginning to cool....
Exactly what I am seeing. Just today I saw 5-6 new reductions
What areas?
@@cypherpunksteve4959 just north of Charlotte NC. Concord, China Grove, Salisbury, Landis, etc
Zillow actually has reduced their yearly forecasts. Salisbury dropped to below 9% apprecation. China Grove dropped to under 2%
I have seen price reductions of 2-100+k - some of the largest reduction was absolutely price overreach on crap listings... other larger reduction was due to extremely high end homes (PNW multimillion dollar homes).
Ditto! In my area it was a Frenzy.
And Realtors will continue to get their overweighted commissions the biggest scam ever.
if you can sell a house then do it on your own. Those that need a realtor will use one
most agents are lazy
College is the biggest scam ever. At least with real estate you actually own something tangible
He is so right. It’s why I kept my first fully paid home. It was tempting to sell it last year and thought hard about it since I’m leasing now due to job assignment 80 miles away. I could have sold it but thought, if SHTF, I at least have a home.
In SHTF time, you may have a house or not, we dont know. But, it seems wise your plan, likely home survives if you are in decent part of country or town.
SHTF your home better be in a rural area, not the city. Cities will be devastated from the rats that will riot and plunder, think Portland except on a larger scale and in burbs. IMO.
Not a bad thought
#RealEstate According to the Federal Reserve Economic Data the "Median Sales Price of Houses Sold for the United States" (MSPUS) in 1988 was... Q1: $110k, Q2: $110K, Q3: $115K, Q4: $113.9K.
In California we bought our new home for $129000 in 7/85. After landscaping and fencing we sold in 9/89 for $2490000. That home is now worth $989000. During 2004 to 2005 our home market went up 32%. This is in the bay area. I'm in real estate and I felt the looming crash starting in July 2006 then it slid like avalanche and destroyed people in many ways
Once the foreclosure bans and eviction bans end, there will be lots more properties on the market.
Will the government allow it? It may be localized. In Massachusetts: www.bostonherald.com/2021/07/29/terrible-tidal-wave-of-evictions-to-hit-massachusetts-as-ban-expires-with-19000-cases-pending/
holding onto my precious metals and waiting on the housing crash so I can outright buy more property.
Hope those people buying in Dallas realize property taxes are outrageous. I learned the hard way back in 2007. No way I would buy again here. One more word of advice. If property values do drop in Dallas, find those comps to challenge the tax office when your property is assessed.
Tide started turning here on central/southern California coast about 1-2 months ago. Physcology light switch flipped. Price reductions happening. 👍
I wanna get me one of those homes up in the hills looking down upon all the new homeless camps popping up.
ruclips.net/video/ohZj-lf_9Ao/видео.html
Sorry I'm a little sarcastic but just watched a You Tube where this is happening. When I lived in Escondido in late 90s could get a hillside 3/2 or 4/2 along I-15 for low 200s! These days they are $800K-$900K and not even near the coast.
in 1982 in NYC I brought a 3falimy house 105k
I bought my first house in 1985 for 59 grand. That same house today is 350 grand.
it's amazing what you can do with few pallets and blue tarp on the highway exit ramps
I don’t see how this massive shortfall in supply we have gets replenished. Building costs are only going up with inflation and the amount of bad debt compared to 2008 is negligible. I don’t see a repeat, but then again you can’t see a bubble when you’re in it.
I also want to bring up the hidden costs of maintaining and upkeep on a home. If you move into a fixer upper and your mortgage is less than rent, expect additional hidden expenses on the backend. Water heater/ HVAC/ Garage Door are most common. You'll find if it hasn't been maintained well you'll be dropping $1000+ here or there every so often. Make sure you budget for it so it doesn't go on a credit card you can't pay off because you bought a house you couldn't afford
I know a couple who kept getting outbid so they paid up for a $500k house two months ago... bad timing.
It would do us all good to study what has happened to real estate markets in countries who have experienced hyperinflation. So few in the US understand what’s even happening rn. People in my area are bidding the prices OF RENT higher just to get into a damn rental. Wake up!! These are unprecedented times.
Reasonable forecasts. Problem this time is it seems Fed will just print money to hold up value of all assets, it’s hard to say if massive inflation or crash in asset prices will happen. If inflation happens, I’d say invest in real estate with some debt is not a bad move.
The local municipalities love the increase in house prices because tax goes up
In Nov 83, bought 2 bedroom condo in N Virginia for $99K. In Dec 89, bought 3 bedroom townhouse in N Virginia for $220
My parents bought their first house in SoCal in 1985, they paid about $90.000 now it's worth about a million.
I just locked in for five years at 2.001 percent. I feel lucky. Stacking too as much as possible.
In 1970 my husband's grandparents built they house we inherited for 30,000 the house is appriased for 300k! Talk about inflation!!
in 1970 Gas was .37 cents per gallon, the federal minimum wage was $1.60 per hour, average home price was $24,640, Average Cost of Four-Year College $367.00 per year, average new car cost around $3,542 dollars
And I'm here to tell ya times in the 70's were tough and money was tight.
With real estate reaction time is very slow... so if you are waiting to buy or sell Joe Public will not see the shift most for another 18 - 24 months.
Hasn't changed much for Idaho.
In my area (rural Idaho) you cannot buy a house with small acreage (2 to 10 acres) for under $200K. I mean, not even a single wide trailer, if there is ANY kind of house on it you are starting at $250K. I know that may sound cheap compared to Cali, but that is NUTS for this area. There is NO WORK. We were a logging, mining and mill community and at this point, pretty much a county of all ghost towns now. All these rich folk pouring in and building McMansions are in for a BIG SURPRISE in a few months. We get winter here. I mean, like, real fkn winter and they just have o idea...
Sounds like there might be some deals when they realise where they are and cant handle the weather.
Good video. Alot of people are locked on sales numbers. Yes , sales are down. But prices are still super high. Due to lack of inventory. Imo. Nothing changes until the inventory goes up. And there is so much demand built up. Not sure how that happens.
Look at sales history and dont buy till prices get back to what they sold in 2011.
Love how you get to the meat of things QUICKLY! Great content! 👍👍👍
Listing prices started coming down this week in Navarre, FL by about $10,000
Thanks for feedback, endeavor to write as soon for more crypto enlightenment or tips
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Where I’m at house prices have increased by 96% since last year
Were are you Hawái???
Wow
@@donkiko6708 South Carolina
I live in Florida cuz the demand here is so great I don't think they'll be a bubble in Florida like a lot of other places
The comfort of life? So true. I have been having second thoughts on going through with the sale of my home here in Pennsylvania. I don't think I can back out now if I wanted to given the paperwork is signed and closing is in two weeks. A few weeks back after watching the home prices in SW Florida jump thousands upon thousands over the past few months, I have felt that I have now priced my family and me out of the market. Selling now might have been the dumbest thing I could've done. Especially since renting a 4 bedroom home in SW Cape Coral, FL., costs on average between $2,500 - $3,500. That's triple my mortgage now, which was set to be paid off in less than 5-years if we stopped paying extra on the home. While I share your thoughts and feel the market is going to pop, I think I will be forced into renting for a long time, thus eating into the profits of the sale of my home, and no longer feeling the satisfaction of being a home owner. Hmmm....
Now you’re starting to see! If you don’t have a place to go...back-out of the sale!!!
Houses aren't stocks. It blows my mind people are selling their houses to rent in the short term waiting for a potential crash. What if prices don't go down or only go down 10% - 15% before they rise once again... so your going through all the fees and heartache of moving for a minimal gain crs just not selling. For this to be worth it you literally need a total collapse in house prices which absolutely not a certainty no matter how much you think it is.
@@GG_GG_GG yes!!!!
@Crushing Housing Losses in any hot city no they aren't. I can't speak for more rural states but in Texas and Florida its still dumb. Anyway my point is you shouldn't gamble your primary home on the bet of a potential housing crash. A housing correction is not enough for this move to pay off you need a straight up collapse and crash. Micheal Burry you are not - he isn't even right most of the time. With your family home its just not worth betting. There are less dumb risky ways to make money.
@Crushing Housing Losses I'm confused, are you putting a headline from 2008 to try and say history will happen again? Despite there not being a subprime mortgage issue? Despite the requirements to get a mortgage being more or less the most strict it has been in history? Its so funny to see people so confident over something so macro economics dependant that its dumb to bet on. Here is an idea don't overstretch and buy a home you can't afford and don't financially bet with where you call a home. Shocking investment advice I know...
Get those inspections folks!
Thanks for feedback, endeavor to write as soon for more crypto enlightenment or tips
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Interest rates are going down further I refinanced at 3:35 took a lot of money out rates going to 225 today they're going lower when the rates reach 0 the FED will nationalize their debit side of their balance sheet back it up by the asset side this is your hyperinflation moment this is when you buy gold and silver which will be at their bottom premiums are another thing
My Local Area.. 30 years No one really moved. Couple here and there. There's 70 homes in my neighborhood.. 35 have sold in the last 18months for Double what they would have before the Mania. People are Moving from Big city to the rural area I live in. But There's No high paying local jobs!!! The weather is the shits 90% of the time. There was a reason our homes had been stable pricing the last 30 years. The Ones who sold. All Retiree's and I dont blame them.. But there is no where to go. So a few have gone to nursing home and a few moved in with there kids. I Don't know where the rest went but hopefully away from here.
hope the car prices follow soon too these markups are ridiculous
Thank you for the information.
Historically low interest rates and unprecedented price increases. Hmmmm, any coincidence? Payments stay consistent.
I'm in a seriously hot market up here in Portland, ME and I've also noticed listings lasting longer on the market and I'm getting price reduction notifications from all the surrounding towns. I think it's going to take awhile but I'm hoping for a substantial correction so I can execute my plans.
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Couldn't understand a word ninja said. He talks too fast and jumps around like popping pop corn. What happened?
Are homes gonna fall or what?
Will builders become available? I’m still trying to get a garage built in 2021, but hard to find a builder in NH Lakes Region who is available.
@Crushing Housing Losses I call the guy who builds it the builder. I call the guy who digs out the dirt the excavator. To me a contractor is a software person who works a temp job. My point is, builders are busy as hell. Will falling house prices help or hinder that?
Oregon 1989 $52K for a 3BR on 1 ACR
Democrats destroy everything
Would love for your listeners to comment on various areas regarding real estate… As I’ve mentioned before, we are always six months behind California! So I try to keep up what is going on in other areas to see what is coming here… We are in North Louisiana! Great video #economicninja
the redfin data clearlyt shows an inflection
But.....you can't have prices come down too much if the interest rates are 2.5%....and a $600k home rents for $3k/mo.. There has to be a collapse in rents too. I haven't seen that yet. It's like suddenly we have people everywhere multiplying and paying more for everything.
It depends on the geography of the houses in South Carolina the housing boom shows no stopping because everybody is moving into the South they're even moving in from Texas
Yes. All major metro areas in TX getting expensive and inventory depleted.
The Marxist will eventually invade the South just like the North did 160 years ago. No escaping it. 😢
Still looking out for the solar vid. If i can make it cost effective here in georgia I want it this year.
I can report from a friend most rentals are gone and home for sale are all time low...WYOMING. Many from the west coast are moving more inland.
@Senior Housing Analyst you can get more house with acreage for the money and many hate the politics.
CA is going to be like Bladerunner soon:
"In 2019 Los Angeles..."
en.wikipedia.org/wiki/Blade_Runner
I paid $80k for my home in 2015....on the coast in Washington state....
I bought a 5 br end of row built in 1865 for $12,000 back in 1995.
1865? Wow you are old
@@gunslinger9171 Yes I'm methuselah 🤣 The house was built in 1865, the way I wrote it didn't parse well.
@@littleredhen3354 What state ?
@@Budgeting_Ministries Pennsylvania
Hey Ninja love the videos good sir please keep it up.!!
On another note I read that in Weimar Germany they readjusted all mortgages to the multiple used to increase gold price. So if gold was readjusted to 5x today’s value so were mortgages.
Not saying this will happen but the gov can try anything.
Excellent work as always!
#Realestate #Economy #Money #BroHawk
Why in the hell would anyone move to Cleveland??? I live in Ohio... Cleveland is a beautiful city FILLED with CRIME!
@@AaronAaronsohn Believe me you havnt a clue! You are either a Canadian or you dont know how to spell! Neighborhood... not neighbourhood. Cleveland is a piece of shit, I assure you!
East Cleveland has cheap property???🤔
Just like Atlanta, the young people love the inner city...until they get the real experience like the girl got in Atlanta Piedmont Park walking her dog a couple nights ago, she was stabbed to death. They sad part some of the idiots said I can't believe this happened....thats what makes you a sitting duck.
Wayyyy too many joggers.
People don’t connect the dots. The real estate market as virtually ALL bubbles are created by the Fed. Back then it was the advent of the MBS, today they’ve simply moved on to different targets, but real estate is still FULLY fueled b y these criminals. as The Ninja says, this too will end in tears for the public, just like last time.
I bot a small house in jersey in 88 that cost 164k 14% interest rate
Trees don't grow to the sky
Ninja: You say if you own your home or are locked into a mortgage, then no-one can take the home, but that's not correct. The first problem is property taxes which can rise dramatically. If you don't pay them, they will take your home. Then there are HOA fees (for people that are dumb enough to buy a home in an HOA). That's another big and increasing cost that you may not be able to pay in the future. Then they can force people on wells to pay for and use city water hookup (like they are doing in Cape Coral, FL at $20,000 per house), then they can introduce green legislation and force people to upgrade their homes which can be astronomically expensive.
Max, interesting comment. I recently sold my home here in Pennsylvania and am set to close in two more week's. My plan was to move the family to Cape Coral but with rising home costs month over month I decided to go rent a small home from a family member in Alabama. My hopes are that the market stabilizes in the Cape. I have been looking at homes via Pinnacle Building Solutions, and avoiding HOA is a must for us. However, I read about the well and septic to city conversion and started to become a little confused. It looks like the SW portion of Cape is currently making it mandatory to switch. The options seem to be pay the $20K bill at once or add it to your taxes, which brings up a tax assessment issue on some homes we have looked at where we are now responsible to pay the balance off. I looked in the NW and most if not all seem to be on well and septic but when building a new home you pay to have that installed and then nothings stopping the city from telling you in 2 years or so that you have to pay another large fee ($20K) and pay for the city water and sewage connection. Ugh what a PITA. So, I can see your frustration with HOA and other future legislation. Now, I'm wondering if we should look more inland or in another city altogether. The problem we have noticed moving more inland is it raises the probability of paying HOA. :/
@@na93prepre I am currently renting in Fort Myers. I was thinking of buying a couple years ago, but glad I didn't.
Water and sewer prices are going through the roof. Plus, your AC is always on here.
My goal is to leave Florida and buy a farm in Tennessee.
If you decide to come to Florida, then I would recommend getting a house with land north of Ocala.
You are absolutely right. Port Charlotte is doing the same thing. We just bought a lot there. Luckily there is city water hookup .No sewer though. Have to have septic. City sewer is 8 to 15 years away from where we bought.
@@paulallen3639 Lol. I don't blame you. Everything you say is true. I looked at property over there. Never really liked it. We chose Port Charlotte, it's not as bad other than the gator we have to evict from our lot. Boca Grande Beach, Manasota Key Beach, plenty of boat ramps. I'm 60 getting ready to retire. NC is where I really want to go but wife can't handle cold weather. Cheers friend.
Some HOA fees I like because 1. Are a must for condos and townhomes (more economical mortgage than SFH) and 2. they keep landscaping upkeep uniform which helps maintain property values especially in an upcoming market where even $500K+ homes may be sitting for a long while unattended. However I never ever wanted to pay HOA in an old aging condo on FL coast that cost more than the mortgage itself!
Yes taxes can eat any of us alive.
Owning a house without debt and owning a house with debt are 2 different things. If you don't have debt and you like where you live, you have no reason to stress yourself - at least if you have adequate income through the times. But then talk about debt and talk about if you have job or not, there can be big effects you surely want to pay some attention so you don't end up in very bad position. There can be changes to the pricing of things, and you do not want to end up in situation having more debt than the price of the property is.
Is also Ok to have enough money in the bank to live off of in retirement while paying a decent mortgage versus most of savings tied up into a home (not liquid) without much savings. Of course if can do both (home paid off and plenty of savings) is best scenario.
I had a friend one time tell me "let the devil pay" when I asked him why he didn't didn't pay for his home in cash with the proceeds from the sale of another home.
@@globaldj719 Yes it is also fine, if you have fixed expenses (mortgage) and fixed income (retired income). The possible price change of the home doesn't do much effects. Only if the living expenses change otherwise very drastically, that will dry up also the ability to pay the mortgage, but then you should check if the income is tied to some index following the living expenses. The bad position comes if all money you get comes from labor market where things happen easily to worse having no guarantee of anything, and you have big mortgage on home bought on top of cycle and most of mortgage still unpaid. But, there is always solutions, just google "jingle mail" there is procedure to get rid of overvalued property, but I do not know if it is still available option in some states of USA.
I hope inventory goes up! But if we see a lack of houses now while people can make bank then why would we see more inventory when people wont make anywhere near the profit they can make now?
@Senior Housing Analyst my bad..what i meant was ... we cant find houses while sellers can walk with 50-80 grand cash when the deal is done... why would we find houses *when the sellers wont even recoop the remodel fees/break even when the deal is done?. It would make no sense to sell anymore... was that a better wording? Lol
@Crushing Housing Losses ahh what ever floats your boat and allows you to deter away from the point i was simply trying to make .. gotta love the trolls of the internet
Cardboard Cardboard we want the cardboard notes !!!!!!
ThanQ Ninja... I'll never forget 05' That's when Katrina slammed us...
16% is misleading.. there was virtually no activity in 2020, if memory serves me right
Is interest going up
ninja. Thank you for the coffee heads up. We go through a ton but I was laughed at until yesterday
This time around is different. During the last bubble Lenders were giving out loans to people with super low credit scores and didn't show proof of income. They called it liar loans because people were lying about their income to buy a house. So they couldn't afford it to begin with and people were getting adjustable rate mortgages and as soon as the FED raise interest rates they defaulted on their loans. Lending requirements are much tighter now. You have to have a higher credit score you have to show proof of income. I guess only time will tell
They are doing stated income loans now you just dont hear about them
@@EconomicNinja they usually require up to two years of bank statements though so they're not going to approve somebody doesn't have a nice chunk of money in the bank
@@OvertimeGrindAllTheTime My mortgage company is begging me to finance my new workshop behind my house. Last March they wouldn't even touch it.
Median new home sale price on 1988 $233,000
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Flight booked, room at Hilton booked, mood exited!
Ninja, what will happen to the economy if we get another lock down in the fall?
It will get ugly
I was thinking that last night too
@@EconomicNinja It would be like the documentary I watched. It was called Mad Max!!!🤔 Some guy named Mel Gibson was in it.🤭
You’ll be Eating Your Neighbors A$$
Ok but how does increasing inflation factor in???
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Turn your Mike volume up
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Anymore info on the dfw meetup?
Started just over a week ago around me. One day last week, I noticed (at least) 3 new homes with For Sale signs in the yard along my route. Nice homes. Like $500k+ in a good area. Pretty sure 2 of the 3 are already sold.
33 years ago was 1988 not 1994
👍
Planning on listing in November to hope and beat the glut
Why are waiting to sell in Q4 when it's typically the worst part of the year to sell a home?
@@warehouse13graphicsolutions, it's unfortunately just a timing issue. I'd have listed a month or two ago if I could have.
@Senior Housing Analyst, California is a sh*t hole...
@Senior Housing Analyst, thankfully (for the time being) my current area (of NJ) is holding strong. The inventory is still non-existent and the school district is highly sought after. I'm in a bubble inside a bubble!
@Crushing Housing Losses, I can promise you, my area does NOT have a record high inventory, it's the opposite. Like I said, my specific town is a bubble inside a bubble, specifically due to the school district and new construction.
Sure, you can still lose your house even making your payments.....What about property taxes and insurance where you have little or no control. Inflation will make it hard to maintain your home...And with crazy government, police and fire protection are in serious doubt, without these, your home worth next to zero. This is not to mention the waves of homeless roving around sleeping on or next to your home, in some cases they move in....Just be informed fully, this is a very different century than the last one....
I like the Ninja videos, but need to lay out the whole case, sometimes sound too much like real estate agent.....
So Ninja. When you going to run for office bro? More and more non politicians are running and i think if allowed in we will see real change through those people
Local fruit loop up the street is running for city council. Calls himself an entrepreneur. Runs a take out. 😂
@@martinbeckmann9376 I have more trust in the fruit loops than the the regulars. Its time for a change
Sellers are crazy if they think I’m paying 50k over asking price!! I would if they build a goddamn pool 😂
you won't. I wouldn't either, BlackRock certainly will though. the year is 2030 you will own nothing... live in ze pod.
33 mhmmmm.... Ok.. I get it.
34,000.00
75
Are you taking into account hyper inflation? Even if the houses are worth “less” hyper inflation would kind of make the crashing home prices moot, right ?
You tell us to subscribe and comment yet you never address any of the comments...
#economicninja
👏
I love real estate . I’ve got five single-family rental for sale if anybody wants one or five!
Love the updates!!! Dominos gonna fall!! God Bless!!!
#Answer $80,000
Economic Ninja and you have to do simple math by counting on your fingers......yeah, right.
I'm seeing 1988 120000 🤔. #realestate
Me waiting for the crash in the next 6-18 months.. California prices really matter.
Year to year in California is 50%+
Zillow purchased a home for 736 (closed in June) and it came back to market 2 weeks later. They listed at 809 and then price drop to 799 and now the price dropped again to 749.
Nobody still interested, pretty decent house, but felt like Zillow was in a hurry to make profits. Even if we quote 700k I think Zillow would still accept it taking a 36k loss
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You Yanks think you have a housing bubble? Take a look at Canada's, it's down right terrifying. We went sideways when you guys had your last correction and kept on trucking straight up.
Funny how people are being told by real state agents “it’s a great time to buy even if houses are high”. Saying they might nit be able to find a house later…stupid people
Its alot bigger then people can possibly imagine... 😈🍻
The rich sees an economic crisis as a garage sale also the rich stays rich by investing and diversifying their portfolio with stocks, Crypto currency and Forex trading which is the wisest thing every individual needs to do and it's real profiting
Diversifying is the best key to investing and being wealthy
Yeah you're right one needs to diversify to have different streams of income
Well I've been an investor in crypto trading and I can say it's really profiting
I've heard about Forex and bitcoin, watched multiple videos but always get confused.
I was an investor of stocks but sold all off and invested on crypto I've been doing well.
#realestare
#realestate $110,000.00
If anybody wants to buy kudzu properties really cheap, maybe you could hire Ed the human Sasquatch looking goat to clear the problem 🤔 I am getting good at it... powered by BONE BROTH AND BRAIN OCTANE. Did I ever tell y'all about my Nutrient Dense Keto diet?
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@@yanmifebritt3112 With this NDK diet I have lost 40 tons of friends, that is 482 got to be some kind of world record... but it does look like you're a true friend... need to get back to the patch before the heat gets unbearable, got hongry, if everyone would get vaccinated when told they could simply blame mass health disorders on covid itself...
Same talk over and over