Home Prices FALLING FAST! Housing Market 2024
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- Опубликовано: 15 сен 2024
- According to the latest housing market data from realtor.com home prices are now falling at the fastest rate in five years. Simultaneously new listings are up 36% year over year. This is great for any would be buyers, but the situation will only get better the more buyers hold out for better deals in the future. But the fact is, it's much better to be a Buyer today in the middle of 2024 then two years ago in the middle of 2022.
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This Could Be THE WORST TIME EVER TO MOVE TO FLORIDA
ruclips.net/video/zv_7olinBTI/видео.html
Any reports on North Naples?
@MichaelBordenaro
Or the best time if you're a billionaire like Trump that basically pays no taxes and uses the self-serving system that he participated in creating when he was president .
The wealthy that manipulate the economy to only help themselves and make it out like they are helping us.
Here Mike, $6.5m home just sold for $5.5m prepared to cut loses and take less profit and walk away...
Perfect timing wouldn't you say, for the government to help first time home owners (migrants) to get into a house, while at the same time putting the middle-class out on the streets.
Could you imagine being fresh out of High School 18-19 years old knowing that you have to come up with a QUARTER MILLION DOLLARS to just buy a car & starter home.
That's a lot of STRESS at such a young age. Dayum!
My first vehicle cost like $250 & l drove it 100,000 before buying a new vehicle.
Then my 1000' square foot ranch style home with attached garage & huge back yard only a mile from shopping centers paid less than $38,000 back in 1992
Probably a good reason for all these school shootings.
Could you imagine having to come up with this amount of money right out of high school?
Holy 💩💩💩💩!!!!
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too
You are right! I’ve diversified my portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with please?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne’” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I just checked her out and I have sent her an email. I hope she gets back to me soon
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I'm seeking for a more effective approach on my savings, how can i reach out
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. She seems very proficient and flexible. I booked session with her
Housing prices likely won’t drop significantly until supply increases. The U.S. is short millions of housing units and isn’t building fast enough. Demand remains high, and even a small dip in prices attracts many buyers. I’m looking to buy affordable houses in August and maybe invest in stocks. When’s the best time to invest in stocks? Some say it’s profitable, but others warn it’s risky. Any advice?
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Having an investment advisor is the best way to go about the stock market right now. I used to depend on RUclips videos but it wasn't working. I’ve been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Could you recommend your advisor? I'd appreciate some help.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Annette Marie Holt” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.
“Jessica Lee Horst” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Turns out that when they predicted Florida would soon be underwater, they were talking about mortgages not climate change.😀
😂 👍
That’s a big 10-4
😂😂😂😂!!!! yes!!!
My sister bought in N Naples in 2021. She says her area is selling.
Both...
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.
That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
he often interacts on Telegrams
@Zachfinance
Michael, you just walked past my house! Been watching you for a few years now. Keep up the important work!
Is it always that sunny where you live? When I worked in the Bay area I recall an awful lot of grey overcast days. Michael must have lucked out with the blue skies or is it normal where you live?
@@RoissyAngel the weather has changed. Less overcast, foggy days on both sides of the Golden Gate these days .
lol. Talk about small world!
@@JJCornett Thank you.
Living in FL for five years since my move from 35 years in NO CAL, I watch Michael’s sojourns with great pleasure and also envy. @JJCornett, FL couldn’t be more different than our beloved NO CAL. On the good side, the marine layer doesn’t cool off my pool at night and SRQ does have sensational beaches!
homes are still overpriced by at least 40-50%. Where I live, $500K can get you a boomer home with shag carpet, wallpaper, white kitchen appliances, and pink plumbing fixtures. What a steal!!!
Hey, don't knock wall paper (not the flashy kind) and white appliances. I don't know what the latest fad in countertops is but if done right, they can look pretty good...:)
Dont forget - inflation is eroding the dollars value - therefore requiring more of them to meet requirements of seller
Same here in Australia. I live in an absolute crap neighbourhood and the houses are half a million Australian dollars.
Yep, same where I'm at, and those same houses were $220k 6 years ago. Meanwhile the wages went up 15% since then...
Oh no that’s your home the boomer downsized and has flat finished ceilings ,hardwood floors and Wi-Fi appliances now…paid cash..you got the home and get to upgrade it too. Financed😂
Here in Northern California homes are just sitting and still priced out of this solar system. Still waiting to purchase my first home and I will continue to patiently wait. No panick buying.
Keep waiting inflation will outpace u
Why would you buy real estate/live in that state is beyond my understanding. They are giving illegals loans of $150,000 to buy a home and you are paying for it.
Also in NorCal, yep, I too am waiting
Smart!
Jeremiah Babe
So 81% of houses on the market are overpriced 😮
As I ponder investing the proceeds from my recent Portland home sale into stocks, I'm torn between seizing the opportunity and timing the market. While I recognize it's a great time to buy, I'm uncertain if it's the perfect moment for me. My mind is also boggled by the impressive gains others in the same market have made - over $450,000 in mere months! I'm left wondering when I'll fully recoup my investment and whether I'm making the right move?
the strategies are quite rigorous for the regular-Joe. As a matter of fact, they are mostly successfully carried out by pros who have had a great deal of skillset/knowledge to pull such trades off.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your investment advisor here? I’m in dire need for one
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Jessica after inputting her full name on the web, she seems highly professional with over a decades of experience.
I wish they dropped more. I live in the west and most houses are getting price cuts but going from $550k to $520k doesn't make much of a difference to the local population when those SAME houses were ~$230k 6 years ago
Patience. Boomers haven’t reached peak dieoff rates yet. In a few years ALL markets will be flooded with depreciated boomer stuff. House, RVs, whatever their kids can sell off. It’s gonna be ok bro
Exactly!
It’s so frustrating
Just wait it’s coming
Go over and watch Ashley Pickens she is a auctioneer you’ll learn a lot
It’s coming
429,000. Average Idaho income 48k. 9 times average income.
Idaho was ransacked by wealthy out of state people buying second homes or wfh techies.
Not enough construction
@@Cyrus992 cost too much to build ..cali people came up here and threw money at land now its sky high..20k per acre
@@NrthrnKnght machines can build for $150k
374, 800 1800 sq feet my house I bought 2 years ago in Missouri
I thank you for stopping and talking with Dave. Thank you for accepting his admiration, and giving him advice for future purchase. You're a sweet man, you are, Michael. Thank you for your kindness.
He's a late baby boomer who can't keep up with the costs, while 52% of the US's wealth belongs to the baby boomers because they bought everything on the cheap.
Yes I saw that too !!! Didn’t brush him off after few seconds
Man i wish this was true in my area, i see stuff sitting for 100days and the sellers don’t lower prices one bit
That's because you're seeing reality. RUclips is for making money from viewers. The content on this and similar channels twist data to tell viewers what they want to hear. The number of price reductions sounds like a like, but is pretty normal. He said 53 days on market like it was a huge length of time, but in most markets 90 days would be considered normal. 1.5% value drop is pretty standard in summer and values normally drop thru to the end of the year. I guess he's calling that a "crash" or "correction"? OK, so there's a crash every year in the fall? Talk fast, sound scary, sell views.
I’m 28 years old … I have been and am totally convinced that I will never be able to buy my own home. I grew up in the system and come from a broken family so the only thing that has ever mattered to me is finding and going home .
When in college after the Army I went in with 3 other Vet students and bought a dump of a house and crammed as many student renters. We also did some fix ups. Sold after 4 years and made enough for each of us to buy our next house. I always bought fixers and slowly fixed them up. If market was crap I rented until market got hot.
I suggest leveraging what you learn growing up in the system...adaptability and knowing things are never guaranteed. Life is what you make it.
I hear many young people thinking they should be able to buy a perfect home on their own in one of the most popular cities in the world. Never been true, never made any sense.
@@waterbug1135 Thank you so much for that ! That is genius !!! SERIOUSLY ! (Are you married 😅 I make a great teammate) I am from a very small town and so my views and outlook on certain things you can say are more conservative than not .. but I would love to buy a good ol fixer upper. When I think about it , I want nothing more than to buy a house and work on it so better deepen my connection to that house so that I never forget that it’s mine and that as long as I remember that I have a forever place of refuge, the rest of what happens in the world will be easier. Easier enough that I can better serve my family , the community and draw nearer to God. Having a house isn’t just a home , it’s a lifestyle and a reserve for family in health and when life makes you weary . I will never fully fulfill smy purpose or my duties as who I am until I go home. It is at home where you make the biggest changes to the outside world. It is only then we all find peace in our communities. When I buy this house , I’m going to fill it with more people and I’m going to send them and myself out into the world knowing that no matter how bad things get - you still get to go home.. and from there you can start over as many times as it takes.
@@waterbug1135100%. The biggest mistake people make is thinking their house needs to be move in ready. I pulled 5 fourteen foot trailer loads of crap out of my house before I could move in when I bought it. Now it’s worth 4-5 times what I paid in 2015 - because I got a garbage heap for cheap and made it the jewel of the neighborhood.
Today=FOMO Pricing…When prices are back to 2019-2020 levels. let me know. Numbers have to make sense. Don’t today. Massively overpriced.
The problem is that the houses could be bought up by the investors before the prices get back to 2019-2022 levels.
I don't believe they would ever get back to those levels. I would be happy if they matched the "official" inflation of around 20ish percent. That would put houses in my area that were 350k to 420k vs where they are now, the 350k house that turned into 550-600k.
All Bullcrap, it’s like being a mushroom. Keep you in the dark and feed you Bullcrap
@@kenchu5900 Nope…been a FL RE investor over 30 years…The numbers have to make sense…Today, they don’t.
Smart
2 homes in my Jacksonville neighborhood just took their homes off the market after being for sale 6 months and 3 months.
When they get desperate enough, they will lower their asking. It's that simple.
I'm in Jax as well. Just bailed from St. Augustine. Next stop is probably TN if FL can't make a convincing case why I should keep paying this much for this little in return by the time my lease is up in May.
@@booboolips6053 Probably priced@200% what they should realistically be. Can’t believe people keep buying at these grossly overinflated values.2006-2008 was just like this…
It looks just like 2007, nobody in Florida thought it could happen, then it did....
@@DIVISIONINCISIONJacksonville isn’t a great area. Florida home prices are a yoyo. Come to northeast Boston area. Ain’t nothing cheap and it isn’t gonna be.
My solution Michael" I'm paying cash for a house after working my ass off for years... Screw the insurance companies and all that other HOA bulshit..
I'd rather handle my repairs down the road than being a slave year after year to some organization that's only after my wallet..
Insurance companies will RIP you off. They never pay out anyways. Good move. Your saving money.
Amen! Paying cash & putting those insurance premiums in HY savings to self insure is definitely the way to go, if you can stand the risk. If worst comes to worst & your savings won’t cover repairs use that money toward a mortgage to rebuild a small retirement house on land you own. Or pitch a tent lol. A low property tax county preferably in a no income tax state would be a bonus.
I knew a couple that decided they weren't paying home insurance premiums anymore, sure enough their house burned down. They couldn't afford to rebuild. If you're willing to take that chance and can afford to rebuild without ins. then I say great...I paid cash for my house and insured anyway out of fear. came in handy when my basement flooded.
I live on Cape Cod, MA and the housing market here is put of control. For 500k you can get a 2 bedroom 1 bathroom shack that essentially falling apart.
Hear you! I'm north of Boston and a cheesy 2x4 framed 3bed/2.5ba/2CarGarage builder spec home from the 1970s with no to minimal upgrades/renovations are SELLING (not just listed) for $850K+ !! If a flipper buys it and gussies it up like lipstick on a pig, it'll be listed for $1,100,000+ and go under agreement within a month!
@@lanialost1320 You got a TON of finance guys up there (100k of them according to Google). When that pig of an industry deflates, so will your home prices.
All of that money spent, just for the great privilege of seeing horseshoe crabs in the summer.
When rent and mortgage are roughly the same, that will be the time to buy. That’s when it will make financial sense.
Renting is WAY more than buying in Florida (except Miami, Tampa, Jax).
Sit tight if you can and watch it all play out from a safe vantage point.
Typically, they are roughly the same, when comparing apples to apples. When you rent a home, your rent is usually the cost of the OWNER'S monthly mortgage, his insurance, his property taxes, his estimated costs for repairs per year, and then whatever additional bit they can throw on there, the amount of which will be determined by how many other competing for rent houses there are available in the neighborhood. Renters just basically pay off the mortgage for the owner, and the thing that stops most renters from being owners is they simply lack the 20%-down needed to get a normal mortgage.
That's sucky math. There is a different. Rent will go up. 30 year fixed rate mortgage does not. If you compare rent to mortgage just on day one you will be a life long renter. Your rent today of $1500 can be $2220 in 10 years at 4% increases. If you buy today and have a $1800 mortgage payment in 10 years it will still be $1800. In 20 years rent could be $3286, mortgage $1800. In 30 years rent is $4865 and mortgage is $0 and you have an asset worth almost $1 million (assuming 4% appreciation). And you will hopefully enjoy being in your own home more than a rental.
These are very rough numbers, but in the ballpark of realistic.
I don't have a dog in this fight...happy to have you rent...your business. I just like numbers.
@@waterbug1135 I'm sure all the people that over paid for a house "because throwing away money" are wondering why their supposed fixed cost has now gone way up because of taxes, insurance, and maintenance. "Buy better than rent" doesn't fit all scenarios.
I can confirm in Kansas I was surprised that houses I had looked at a couple of months ago now have reduced 10-20k on a 125-150k home.
Cheapest house in Austin is triple that.
Where? I’m ready to move to Kansas…
@@privatecitizen4001 and is also a falling knife
@@shanejones578yea really. 😂 I’ll sell right now for dirt cheap and grab two for that price. But we’re they 60-100k prior.
@@JFEnterprize for sub 140k I don’t even care. You only need to make average money to pay that comfortably.
My co-worker just bought a house in Hawaii for $1.1 million. 3 bed 2 bath, 1100 sq ft. In 2019, the same house was $525k
Wow, that's a sad, sad situation ... down half, ouch...
2019 bought my condo in Hawaii for $246k. Just sold it for $459k.
The dollar was almost twice as strong in 2019. The house is worth just a little more in 2024, but each dollar buys a great deal less.
@@Singlesix6 yeah true. But the number 1 killer here is supply. No supply here on Oahu. They open small neighborhoods one at a time but those houses are sold before they’re even finished building.
House rental and apartment rental prices are incredibly high. They are at least double what they were in 2020, maybe more. It's ridiculous. No justification for this huge price increase other than greed.
What if houses have been incredibly low since 2007, and the increases are not overpriced but sustainable?
It is a market.
Prices require buyers/renters to be willing to pay that amount. Owners can ask whatever they want, but that certainly doesn't mean anyone is willing to pay. Want prices to fall? Double and triple up. A $600k house split 3 ways is $200k. That also takes 3 buyers out of the market but only 1 house. If enough people did this prices would indeed fall. But so would the value of your house, so...
Rent is the same. Double and triple up. Inventory will climb and rents will fall.
Buyers control markets. You just have to convince a lot of people to do this. Good luck.
Literally a home on my street is just sitting for almost 4 months. 2 bed 1 bath in the inland empire for 465! Owners bought it a year ago trying to flip it fast but know they’re the ones you got flipped 😂
Good deal
I flip houses. Yeah not all are profitable. But ya get a little smarter each time. I know many 1st time flippers think it's easy money and it doesn't work out. Most get converted into rentals until the market gets hot. Many are waiting to see what happens if mortgage rates continue to fall.
My wife and I almost have our house paid off and we were thinking about a new place but even after selling our current home the prices for ANYTHING just slightly better and alot of times worse will cost us three to four times what we paid for our current home. Its impossible to make the numbers make sense.
Plus yout taxes will quadruple based on current pricing
We are in the same boat. And a lot of people won’t sell for this very reason. One big factor in the low inventory
what you saying doesnt make sense at all, if you current own a house, that house also tripled quadrupled in value since you brought it. if you sell it for a bigger house, there should just a small price differences. unless your house is a mobile home and on a lease land, which will only lose value over time instead of increase value.
@@jackli6592 I didn't get the best deal on my current place (2br 1bath), however I did have a very low interest rate. It is about 2/3's paid off so in theory I could come out with a 3br 2bath house that is maybe about half paid off.
Starting to get very excited about the opportunity to buy a $150,000 house for the bargain price of $300,000 instead of $600,000!
🤣
I'm hoping that's sarcasm
LOL
If you have to wait until it hits 150K to be able to afford it then you still won't be able to afford it. Do you think the taxes and insurance will drop down so you can afford it? How about the utilites? Do you think they will lower the rates for grifters like you? If you can't afford to buy now then you can't afford to live here.
@@HulaShack1 well let's see, I'm currently living in a $125k home. It's affordable, even with the taxes and insurance costs. Utilities has dropped lately. Only my cable is slightly expensive. At $125k, I'll admit it was imo overpriced, but I locked in a 3.5% interest rate, so not a huge loss. I am seeing homes dropping below the $200k threshold pretty often, so in certain circumstances, they are coming back to realistic prices. Oh and I purchased it in 2021.
We warned everyone for years and called conspiracy theorists. Everything we said was going to happen has..we tried.
Truth!
It's a communist tactics to stripen one of freedom. We used to call it having common sense
Yeah, but it only "happened" in social media. Those of us out here in the real world aren't seeing "the crash".
@@waterbug1135 you will. lol there's no getting out of what's coming. For me there is because I have no debt and I know how this system works but for the average slave its coming
lol there is no crash - not while money printer goes brrr whenever """they""" think the cattle are becoming too wealthy and need their purchasing power eroded.
If you were a conspiracy theorist worth your salt you would see the rigged game but you can't see the forest for the trees.
Utah is still at about a 60% overvalue.
We need about another 2 years of high interest rates before it'll come down here.
40% of homeowners have no mortgage so even if mortgage rates were 25% why would that force them to sell? 92% with a mortgage have a fixed rate mortgage so why would they feel forced to sell?
Only about 4.8% of all homes have a variable rate mortgage and would be in trouble with higher future rates. Even if every single one felt forced to sell at the same time that's not a huge increase in inventory.
Higher rates cause owners to stay put. If interest rates go up so will rents. Selling your house with a 3% mortgage and $1500 payment to go rent a crappy apartment for $2000 only makes sense in social media.
They could drop the rates to 5% and I wouldn’t buy…… prices need to come down 1st STILL!
A reset needed to happen in real estate anyway. It's been out of control. For a house to triple in value in less than 10 years is nuts when the rest of the economy wasn't unilateral. People just couldn't even afford the 2 bed rm starter home to own . They were bought out by corporations to rent out in many towns across America, only to be turned into rentals that also weren't affordable.
People couldn't afford... but houses have been selling. Only about 25% of buyers are investors and that's only in hot markets. I assume you think the data is lying? That's pretty standard social media logic.
If you actually believed what you're saying, that corps are buying all the homes and turning them into rentals then you must be buying as many homes as you can because that will increase home values 10x, 20x. More homes switched to rental = less homes available to buy = higher values.
Gen Z and divorced men are cheering on this housing crash. Bring it on! 🎉 🎉
“Housing crash?” In the middle of nowhere in texas or kansas?
Did you know that Gen Z actually owns more housing than any other generation at the same age? 27% compared to 23% millennials and 21% for gen X...hard to have empathy for you guys after hearing that.
@@wormhole-r3l yeah, I’ve also heard that only 10% of all statistics given by anonymous people on the internetz are made up. Wild.
@@peraltaisrael2598 There is no "crash" in Texas. I live here. There is a slight correction in Austin metro, but that's not a crash. There is cheaper housing outside of Austin, much better values.
@@DIVISIONINCISION first it was "buy now prices are skyrocketing will never come back down". Now "its only a small correction"😂. Ok see you next year "somebody help me my house has lost half its value" 😂. You obviously have never seen a recession. Good luck out there
My Aunt’s finally sold a house near Boston. Started at 300K 4 months ago and finally just sold it for 220K (27% below the initial asking price).
Did they live in a boarded up Shack in a bad neighborhood? You can't get a home outside of Boston for less than 500k
@@justinlowry6522 the land is worth more than that....
@@justinlowry6522 Well, it’s about an hour drive from Boston in Ashburnham to be more precise, out in the boondocks.
@@SinatraSavvy That's not Boston. Not at all.
@@DIVISIONINCISIONpretty close, one hour away, but yeah, thanks for the info. Boston sucks by the way! Takes an hour to drive two miles in the city, and when you walk around downtown all you hear is people honking non stop. I’ll take the outskirts over that drama any day of the week.
Offered 600k. They listed 700k. They ended up selling $475k bc she was being foreclosed on
Kinda an illusion.... yes, prices are dropping.... buy only compared to their pie in the sky asking prices... in Florida, I see "cuts" of 50-60k... but when you look at the sales history, they're still asking 100% more than they paid 3 years ago!.. and with the increase in Taxes, HOA fees, and interest rates.... there is no way I'd be a Florida buyer.
So true!!
People buy in FL because they want to live in FL. Plenty of people in the world with money.
It’s called appreciation.
In some areas in FL prices increased by 50% or more...ridiculous. unsustainable
@@mukoraka Florida is headed for the biggest crash in history….2007-08 was just a “warmup”
That was nice that guy took a photo with you. You really are helping people.
Affordability is a major issue, especially with rising home insurance and taxes. Now, 60% of my net salary goes toward a basic mortgage. In some areas, prices have doubled in less than four years, yet people expect them to keep rising. How far can this go?
Yeah, you know the market's out of balance when my 1979 home doubled in value from 2012-2020 and then doubled again from 2020-2023.
It is going down
@@enthused7591it’s a setup for you to pay more property tax
Well to answer your question you can look at LA, Bay Area CA, Seattle, NYC, Vancouver, etc... Prices can go up a lot. All it takes is buyers with money and a desire to acquire in certain areas.
I like that you let whoever is speaking tell their whole story without tons of interruption. Give us viewers some anecdotal incite
Charleston, SC, is way overpriced now. Avoid it I would say.
Are income taxes, property taxes and insurance high in SC?
Taxes are the least of your worry there. Unfettered growth has ruined the place.
Thanks for the solid investment advice. I get all my investment advice in RUclips comments.
I live here, that’s true!
@@JoLevyMakeup I graduated from R.B. Stall High in 1980. Baptist College (now Chas Southern) in 85. My in-laws own a restaurant on the Ashley River downtown. Loved the lowcountry! Back in the day. Now, not so much.
I’m in south Louisiana and can tell you that my insurance had almost tripled in 2.5 years. Unsustainable.
Anywhere near water, you will have that. Of course, it's sustainable.
If that happened 250 years ago, that insurance company would be in flames.
The right choice of an investment has always been a big problem for me I know picking a wrong investment will leave a big scar in the future.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
There's 13,386 homes for sale in San Antonio right now with 2,329 added in the last 7 days.
buyers market incoming!
There's blood in the water now, sellers see this is their last chance, but really they missed their chance because buyers are gone, and won't be back until homes are half price. Unemployment will make half price homes a reality pretty soon.
San Antonio also have a horrible job market
@@zackbog same could be said for many cities
San Antonio has really been hit hard and values will dip. I always liked SATX. Why are people leaving the city?
Look at you Michael! Running into fans on the streets in California! Great video!
Jun 5, 2024
The quarterly number of single family-home sales in Florida reached 57,326 in the first quarter of 2024. This was an increase over the previous quarter but below the first quarter in 2023. The value of single-family homes transactions in Florida followed a similar trend in this period. Some one is lying his ass off!
1.5 million condos in Florida have been recently red tagged.
That should help reduce the inventory
Still won’t help Florida. That correction is happening. The high insurance prices and high property taxes are going to devastate that housing market…
What do you mean? Red tagged by whom? FEMA? I think the intention is to destroy the condo ownership and then the Gov will come in and buy them up and put illegals in them.
Timing could not be more perfect. Been living in a van for 3 years stacking cash and advancing my career. Almost time to emerge from the van 😂
Good for you. Making sacrifices now to help your yourself in the future. Most people can’t bring themselves to do that.
If you live in a van, where do you poop and shower?
@@DIVISIONINCISION work and gym.. I park at work and have 24hr access. Ive gotta milk this amazing situation I find myself in as long as possible lol
Okay, I understand the house prices are falling but your average American doesn't have the money. They're using credit cards to buy food. They're not paying their car payments so the only people buying those houses are going to be very rich people who can afford to speculate on that property
just make sure you dont rent from them
Because business's and therefore employments are failing because inflation, the cost of doing business is rising so the govt interferes with printing and distributing more currency
It's all speculation, baby MoeMoe. America has always been about the money!
The listings here in Florida have exploded. Homes sitting for hundreds of days easily. Even with prices coming down the problem is the Insurance, Taxes, etc ... Florida is a mess right now. Thanks Michael and Happy Friday!
@@Juliet875 FOMO Pricing…When the Listing Prices are 200% of what it should be, based on “normal historic appreciation”, we’re not buying. Nobody with sense should either.
@@Juliet875 No..Florida is a TOTAL DISASTER now. My family been here since the 60s…We need a “Total Reset” to fix it.
Thanks duhsatan - he's for $$ for big business, big pharma, big tech, tourists & corrupt politicians - ZIP for actual residents
@@rodcoulter997 We are getting a major reset once Donald is in office. Just hold tight.
It's all catching up to carpet bagging flippers - excellent news - the pendulum swings
It's happening here in OH. Homes are sitting with price reductions every day and they're still not selling.
Michael gonna need security detail soon! Our boy getting famous !
That man stopping you was so cool Michael. GREAT JOB🎉😊
I think it would have crashed if it wasn’t for all the corporate ownership.
25% of buyers are investors and only in popular markets. Of that a small number are corps. But sure, if you reduce the demand prices would likely go down. Investor buying has been super slow now for more than a year yet prices have done OK.
However if you instead ban private homeownership that would surely reduce values.
I'm closing in on retirement and I'll love to move from Minnesota to a warmer climate, but home prices seems ridiculous today, do I go ahead with buying a house anyways, or look at other sectors of the market as of now?
consider talking to a well-seasoned advisor about which sectors of the market is thriving to focus your portfolio on, diversification is actually key to good investing.
Agreed, amid covid-19 outbreak, i simply adopted the services of a certified financial planner instead of panic, and thankfully, I've accrued nearly $1m ROI after subsequent investments to date, marking my most significant milestone
@@everceen this is great! once you hit a big milestone, the next comes easier... who is your CFP if you don't mind me asking?
Katherine Nance Dietz is the licensed advisor I use. Just google the name and you'd find necessary deets. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
such an eye-opener! cant wait to experience financial advisory at first hand... curiously inputted Katherine Nance Dietz on the web and at once spotted her consulting page, she seems highly professional from her resumé
Current home owners have been brainwashed to believe that their homes that are shamelessly overpriced is what it is worth, because they saw their neighbors selling at inflated prices and won’t sell for a penny less. The only way prices come down to reality is a major impact on the joblessness, forget days on market and small dollar reductions unemployment rates will reduce prices nothing else.
Brainwashed? Then I guess it would be fair to say renters have been "brainwashed" into believing there's a crash right around the corner. Well, OK, let's just see who's been "brainwashed". The crash has been predicted since 2018. Not sure when you're expecting the crash. Another 5 years? 10? Could happen.
But right now kind of a lot of people are expecting lower mortgage rates. Nothing huge, but in the 5 range next year or year after. More unemployment will push rates even lower like in 2020.
40% of owners have no mortgage. 60% with a mortgage are under 4%. Those you have to sell also have the option to rent their house for a lot more than their current mortgage payment.
Why would they sell? Maybe it isn't brainwashing. Maybe they're just good with numbers.
This is the correct take. Mass unemployment will be what lowers housing prices.
Love the way you interact with the people you meet. Your message is making sense to a lot of people.
It's insane that the blue house cost 400k in 99. Even today that house where I live would be 300k if that. 400k was a ton of money in 99 also
GDP's already negative, the housing market's already crashing (see all-time high number of price reductions without any sales still), all-time consumer credit card debt, unemployment is skyrocketing and will surpass 2009's 10% peak. Homes and stocks will crash 60%. It's literally 3rd grade math. It was always inevitable. Already seeing it in every single asset class other than the Crypto market ....I've been engaged in active trading and managed to grow a nest egg of around 2.3Bitcoin to a decent 24Bitcoin....I'm especially grateful to Donna Mikalonis, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
@DonnaMikalonis
she's mostly on Telegrams, using the user name
I appreciate the professionalism and dedication of the team behind Donna’s trade signal service..
Donna Mikalonis Crypto knowledge is like a secret recipe for success…
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional.
Always a pleasure to listen to you Michael.
Prices are still too high everyone! Far from a buyers market …
People will not want to sell below their purchased price unless it is a foreclosure property.
In MT a lot of the homes have been on the market for the last 4 years. I know because I've been watching it. They will sometimes remove and take like $1k-$5k off the price on relisting which is beyond laughable. Now I'm seeing things like "metal shop" "chicken coop" "green house" at the top of the listings like that is somehow supposed to justify the obscene prices. People still want the stupid out of state money. They are looking for the lotto cash out and that ship has sailed. People found out how brutal winter is and left. Some tried to rent their homes and that didn't work out because some spots were too remote. This is what happens when people do not research a new state they move to. Just remember, some places are/were cheap for a reason. I'm looking at you Libby and Billings.
Man, we went through Billings this summer and it was very depressing…woke cult flags in the downtown…homeless zombies walking about the street. Never
Everyone who moves to Austin complains about the traffic not realizing it because of ppl like them....
@@StayClassyExpo billings is the portland of montana..meth is rampant..bring in your garden hose at night..and I live in Idaho
I had a chance to transfer for a Federal position in Missoula, and as much as I loved the mountains and air up there, I probably wouldn't want to deal with the winters. It's much different from Texas.
Who thinks Harris is 1000X worse than Biden’?’
Everyone who isn’t a moron
She is worse certainly.
Attention, sheep! When prices fall 50% all over the country then we are closer to normal. Oh and young adults you don’t need these McMansions they are a waste of resources, time and continued expenses. (the marketing behaviorists are making a boatload of money off of your backs) Look for that 900 to 1200 square-foot home make it your home forever and you will have a happy life.. I’m old been there done that. Have a great night. Michael, enjoy ur channel! TY from New Jersey
Wrong. 2Ksqft 4/2 has better resale value. Always consider resale value when buying.
@@DIVISIONINCISION I’m old, worked for very large private equity firm. Touched well over 2000 homes as rehabber. Owned, flipped and rented many homes. It’s all about the purchase.
I’m tired of everyone saying it’s about resale. Wrong! Thats what they teach you via the marketing behaviorist of TV and social media to over sell you. Look at Floridians, Texans and etc.
Be happy and live simple (within in your means). When you get old you will understand. We need to not be sheep. Sheep get herded by the 1%ers. I see it everyday.
@@DIVISIONINCISIONLol. You either didn’t read or didn’t understand his comment. 😂
Not in my town - It's too close to major center where you need a $1 million to buy a home and they ruined our affordable market
@@KayakerDude-cw1kk Too many great places to live in the USA to put up with that..I’d move…Seriously.
Not in NJ. My house is still worth double what I paid. I’m not selling. Ever. We don’t want to move. We love it here by the beach. Small town, safe. I work a 5 min walk from my house.
@@rodcoulter997 I think so - Not the west coast, Florida, or NY tho
@@ChildofGodforevr Why would anyone want to live Dirty Jersey, though? Only city where you can smell the city when you land. Between the pollution and the traffic, would not live in NJ or NY ever. One trip to NYC was all I ever needed.
Anything over 250K is nuts.
That's exactly right! Everybody wants their house to be a cash machine or a winning lottery ticket😅
these homes use to between $170K - $210K now they are 480K - 790K within 2 1/2 years.
And they continue building the new homes , there's over 3 areas , and they are only 1 1/2 miles .
One of the area, they are building 500 homes , know they are going for more $8OOK - $1 Million and if you seen them,
you would say, they are to much money .
@@debbiec6216we refer to them as, cookie cutter builds.
.... i paid 280,000 in 2010. for a 3000 sq foot single story... ... you will never find that again in las vegas....
@@ericprieto4348 Because Las Vegas , very expensive . In some neighborhoods, they are paying , extra expensive. I used to watch a realtor channel on youtube and he would show homes all the time . They are more than I would spend . And I don't need that monster of a home . And who would want to learn that big of home , unless you have a Professional house cleaner . 3,000 sq ft home is big enough . My house is almost 3,000 sq ft .
I paid $132,500 for my 1,300sqft house in 2012. It now appraises for $225k. I paid it off in 2021. So I've made a 58% return on my investment so far. I don't plan moving any time soon especially with the current economy.
Yeah but that 58% will be the equivalent of 10% thanks to inflation
You've made nothing if it's your only property, all relative, if you move it's lateral. Unless it's an investment property and you cash out you haven't benefitted.
Correct. You always need a roof over your head. I never include my house as money. @@taffyalusa4642
No no one has money for down payments and their use all the credit cards so now they're credit scores are too low to buy a house period All By Design... Thank a Democrat
You must be broke bro
Thank yourself
I live in a usually hopping town in commiechusetts and there hasn't been a home sale in over 3 weeks. Things are dead ....people definitely getting cold feet and staying put
The only problem is, even if they fall 40 % from here still wont be 2020 prices. We need around 60 % fall to get a good buy
So let me get this straight… you should i also expect what you charge today also drop “60%” what you charge? Oh not that! You still “want to charge to 2024 fees!” How convenient!😂
It’s like people have forgotten how real life works. Inventory been climbing quickly in vegas but I’ve been watching a house listed early November. I would never buy it at its price but it did go pending 1 time 3 mo in then fell out. Now 10 months sitting on market and today they increased the price $11k. What? Then you have 20 year olds that don’t realize cars depreciate over time and expect to sell them for more than they paid a few months ago. Weird times
Vegas and Phoenix are basically sister cities out West. They crashed the same way back in '08. They both have inventory starting to pile-up now. Housing is still too expensive, though. Why would you pay California prices to live in a desert? No beach. Plenty of sand, though.
Hey Mikey People who bought in Florida over 5-10 years ago are not too worried
Some nicer places in southern Cali are still rising month to month. A lot of foreign money flooding in and very little inventory. It all depends where you live.
People didn't want to belive that home prices will fall in the future. But now they can see it with their own eyes!
I would love a place in Florida to have a warm climate and it's clean.
@@maria610421and our politicians are CORRUPT - the RepubliCANTS anyway
sheeple were believing same in 2005-2007 bubble
It HAS to. The price of homes were going so high, there aren't enough stupid (or desperate) people left to buy at the inflated rates. The remainder will be folks who just can't afford to buy. The result? Stalemate. Flatline stagnation. This is the place where the whole US economy will fail. completely.
Well I think most people were hoping prices would fall in a meaningful way but I don't think they're ever going to. We'll see time will tell.
Amazing video, I noticed that most people work for 40yrs to have $1M in their retirement, meanwhile some people are putting just $10k to $50k into trading from just few months ago and now they’re multimillionaires
Investing can be complex, so it’s smart to get professional guidance when building your financial portfolio.
If you’re new to investing or don’t have much time, it’s best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I’ve learned this from my own experience.
Yes getting professional help is a smart move when it comes to building a strong financial portfolio that matches your long-term goals.
It’s always wise to seek guidance from experts.
Waking up every 10th of each month to $64,000 it’s a blessing to I and my family… Big gratitude to Jaspreet Singh🙌
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can’t decide what is best. Can you explain further how you invest and earn?
Home prices are WAY over inflated plus insurance, maybe flood too depending on where you live, which is not cheap, often times as much if not more than homeowners ins. Food and gas is outrageous too. 😢
When priced in gold, houses are quite low now. Less than 200 oz.
Dave was a cool dude. Good luck to Dave and his girlfriend with the search for the house they are looking for.
I always enjoy the viewers popping in and sharing real life experiences
Only in CA are ADU’s. Add a granny flat or rental to your property without an increase in property taxes.
12:34 exactly! The prices are so high, rate cuts don't really matter. The home prices need to come down in unison.
You just walked past a Van Lifer I think. Thats what I want, No Bills and hearing the birds, as long as the serial killer stays out from peeping tom my curtains!
Thank you for accepting his admiration and offering advice for future purchases. You're a kind person, Michael. I really appreciate your thoughtfulness.
A 700,000 dollar Canadian house is 518,000 US dollars. Buying a house in Canada, you pay a fee/tax to the government. In the 10's of thousands. Think if you bought a house in Florida and the state collected 20k fee.
In France, purchase taxes are about 8% of the sale price. Imagine paying $100k in taxes in addition to your $1.2M apartment in Paris!
@@axelcv10
But the property taxes in France are very low compared to US. You pay 8% only once, while in Miami you pay about 2% every single year, therefore long tern you are better off in France.
Florida does collect over $20k on new homes in the way of CDD fees. The buyers must pay for all the infrastructure that goes into a new development. It’s a sneaky ploy to make the home price seem reasonable.
Makes me so happy to finally see the beginning of the return to reality in home prices! Finally it begins! Opportunity coming! Waiting with cash!
let it freaking fall, bring it down to 100k
I enjoy watcgung your videos everyday Michael. Greetings from New Orleans :-)
Watching
Thanks for supporting his channel John!🙏🩷
you can write off your entire trip. Gotta love that.
You’re a gentleman and exhibit genuine respect for your viewers. 🙏👍🖖
HAPPY FRIDAY MICHAEL AND LISSI 🎉❤🎉
Happy Friday Johnny!!!😎🤗🤩🥳
You keep saying this but here in Utah it’s still the same!!!! Sky high freaking prices!!!! Impossible
Here in Ohio prices are dropping the market is flooded with homes for sale. .. many have been on the market for over a year !
Not in the areas I’m looking. We have been looking in Southern Ohio for three years and houses are still at ridiculous prices!
My cousin works in real estate in Ohio and she has to get creative to sell homes because nobody can afford to buy them.
Not in northeast Ohio lol. Prices still way overpriced also been waiting and saving for three years
@@robertadams1558 new math you need to save for 10byears save 10pm a year !
@@stephanniekotalik9339 yep. I paid 73 k for my home with acreage a pond a stream Today I’ve been offered 1.1 million. And I laughed not interested..
What do you think about activity to abolish property tax?
On another Chanel realestate mindset from Houston TX Travis talking about collecting signature about property tax abolished
Hardly one year of 5% Rates and Economy cannot handle it.
As a Historic Context, US Rates were way above 5% from 1968 - 1991!!
US/World Economy at this point is like an OxyXotin ( low rates, QE ) Addict.
I suppose it depends on how you look at it. Florida prices are dropping because of man-made condo policy interference, forcing Condo HOAs to skyrocket because of what happened in Miami. But is the price of actual standalone homes in FL going down?
Yes. In general they have gone down or sold slowly or not sold.
Lower them all you want, people are stretched beyond the max.
The housing market has out priced the average family income! Not to hard to figure this out!
I stumbled across a 2 story 6 bedroom, 3 bath, pool, dilapidated home where I'm at in Florida. They want over $400k, LMAO 😂. The sad thing, is it's still cheaper than a 2/2 with no pool, in Maryland. A state that taxes the heck out of you.
With the job market in a free fall and the banks not giving up the loans and no savings for most people and info available on the insurance situation and taxes and hoa going up how the housing market is going to be ok not going to happen. Get ready the stuff is going to hit the fan,so duck and cover, and wait for things to get better.