Top 10 Cities where home prices will crash in 2024
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- Опубликовано: 7 апр 2024
- New data from Zillow and Realtor.com are both reporting a massive surge in inventory across the US Housing Market - particularly in cities in Florida and Texas.
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This inventory surge is the prelude to price declines because it indicates more and more sellers, with fewer and fewer buyers. This is especially true across housing markets in Tampa, Sarasota, Lakeland, and Orlando, Florida - where homes for sale have absolutely exploded.
Moreover, many housing markets in Texas are looking very shaky. With inventory and homes for sale spiking in Dallas, Austin, as well as Houston. Be careful if you're buying in these areas.
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Just as the fundamental data is saying housing markets like Florida/Texas are on the verge of crashing, if not already in one, housing market pundits are going on Fox Business and CNBC saying home prices are about to explode in these areas.
It truly is an interesting time. Make sure to arm yourself with data so you can make a more informed decision as a buyer or investor.
Track Home Value and Inventory data for free on Reventure App. And sign-up for a premium membership to access some of the data points discussed in this video, like overvaluation %, price cut %, and the Home Price Forecast score. www.reventure.app
Ultimately: buying a house or investment property is the biggest decision most people will ever make. So make sure to have a clear understanding of the trends in the market - whether they're positive or negative - before pulling the trigger.
-Nick
Did you buy in West Frankfort, Nick?
It will be crash only for old homes. Builders giving good interest rate below the national average in Florida. I realized people in Florida don't buy old homes because of hard water build-up in the pipes which is very expensive to fix it the original owner didn’t have a water softener. Also, roofing is about 20k to fix now with inflation and insurance doesn't insure homes with 20-year-old roofs even if it functions. So buying a new home is not a bad deal even if the prices are up considering replacing pipes and fixing a roof.
@@issenvan1050 lol no not yet. Considering it though.
I'm watching the market on your app... It's extremely helpful ❤
@@Meme-20 So far, it seems like the opposite. New home prices are down 20% nationally. fred.stlouisfed.org/series/MSPNHSUS
Whereas existing homes have only experienced a modest correction.
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.
Mind if I ask you to recommend this particular coach you using their service?
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!
That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!
Mind if I ask you to recommend this particular coach you using their service?
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..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Sharon Lee Peoples 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..
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Vivian Carol Gioia 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 greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favourable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Finding financial advisors like Melissa Maureen Ward 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.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Think about switching your investments from real estate to reputable stocks, cryptocurrencies, or precious metals. Severe recessions present cautious buying chances in the market since short-term trading possibilities can be generated by volatility. Not financial advise, but because cash isn't ideal right now, it could be prudent to invest.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti 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 so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Purchasing a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now.
I hope to own a home some day. not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.
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.
Don't be hesitant to contact Sonya Lee Mitchell and follow her directions.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
People are not waiting for interest rates to go down, we're waiting for the crash
Agreed.
That's what I am waiting for!
I could have said the same for the last 5 years but you honestly just don't know. Our economy is ultra screwed , you literally have no idea what the future holds except massive inflation.
Indeed, rates already went up, which means uhm... lower prices? The MORE owners refuse to drop prices, the sharper the drop and swift it will be.
Patience will be rewarded, I'm waiting, the agents are desperate.
I do not believe Barbara , remember she has inventory to sell.
Good point.
She founded one of the most successful realtor franchises in history (Corcoran Group). While she is a very successful business woman, I suspect her take on the market is viewed from a realtor's lens.
@Eduardo-Hernandez-ps2vz: "she has inventory to sell," That's one interpretation. Frankly, I don't think she has any inventory to sell. She's never been successful since the days when PBS made her a "so-called" expert. That was over 20 years ago.
Please read my comment to Nick.
Exactly
She is a System Shill.
I tell the people to hurry and buy this top why they still can so they avoid paying half in a few years! Lol
"It all comes down to interest rates. As an investor, all you're doing is putting up a lump-sump payment for a future cash flow."
Starting early is simply the best way of getting ahead to build wealth , investing remains a priority . I learnt from my last year's experience , I am able to build a suitable life because I invested early ahead this time .
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 60% early this year. It is, in my opinion, the best way to get started in the industry right now.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Rachel Sarah Parrish is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
A mortgage payment at $765,000 loan @ 5% is a smaller payment than a 665,000 @ 7%. Do the math and don’t let them distract you
Exactly! When I bought my first house in 1998, interest rates then were what they are now. However, the price of our 2400 sq. ft. 4/3 Colonial in a Cincinnati suburb was only $162,500. It's not about the rates, it's about the price of the house.
BOOM@@pattybonsera
Most people are not going to rush out and buy houses. Job loses, inflation, high interest rates, higher property taxes and higher homeowners insurance will keep people from buying a home. Only those who truly need to buy will. Just like dodge dealers are selling at invoice and under and still can't sell vehicles, is the same for home sales.
Well put. It's a simple math equation for most homebuyers: can't qualify for the loan, don't have enough money saved to put down, or simply would rather let their money collect 5% in the bank.
dodge is selling for 10-20k under msrp and lots are still full. 50k out the door for a base model pickup is STILL too expensive
There is a lot of supply coming on, but probably not enough to significantly improve the story. Need more home building in a lot of areas
I'm going to buy cash, once prices fall far enough
Currently in this boat. Priced up a home in StJohns county Florida where everyone has been moving. No major job prospects, low wages, everyones moved there from NY and NJ and is now getting called back to work at their pre-pandemic job so over competing for the local scene. Overinflated house prices with extortionate business rates and closing costs. None of the big insurers will insure unless they are farming out to a noname who is only giving you insurance on paper, others who won’t insure you unless you have a new roof put on any home older than 2021 Not to mention 13k closing costs and 8k a year in taxes. Its a hot mess.
Barbara at the end of the day is a realtor...enough said
Self serving !
With around £120k invested in Tsla stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining even in a bulll market.
Aileen Gertrude Tippy 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.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
This guy has been calling a housing crash for years… eventually he’ll be right 🙄
💯
Nick, our man, thank you!
We listened to you and sold in SC in 2022.
Now, the same house, same neighborhood sold 28% less
Thanks for the comment! Great to here that you get out at the right time.
Our prices in New Mexico are still rising.
@FreshGrey-pm4vw new mex is a ish hole. Period.
Houston prices are on the rise
SC not a real state. Florida prices almost tripple since 2022.
Once again Melody Wright was right. She called this 2 months ago explaining that there was a ton of inventory not being reported, especially in the new construction homes. Low inventory was a scam to get people into high interest loans.
We have two new subdivision that have homes that are not even finished because people backed out of them.
Actually until recently loans were incredibly cheap. Rates only went up 8 months ago.
@@Starfish2145 Wrong, interest rates were climbing during the covid farce.
Hi Reventure Dude!
On Zillow, it’s showing a total inventory of 173,253 homes for sale in the state of Florida.
165,535 listed by an agent
7,718 listed by owner
I have been tracking the increase since Sept 2023 and since then it’s up 34.45%.
3 years ago this month, in Florida 1572 homes were sold per day on average.
2 years ago this month, in Florida 1403 homes were sold per day on average.
1 years ago this month, in Florida 1344 homes were sold per day on average.
6 months ago, in Florida 1211 homes were sold per day on average.
Within the last 3 months, in Florida 1291 homes were sold per day on average.
Within the last month, in Florida 1291 homes were sold per day on average.
Within the last 14 days, in Florida 1161 homes were sold per day on average.
Within the last 7 days, in Florida 780 homes were sold per day on average.
Buying has halted over 50% since 2021 and inventory is extremely higher since then. The numbers have all the makings for a nice correction of at least 20%.
💪💪💪
Best analysis
And many are moving to Florida.
Great job tracking those numbers!
Wow😮
Cutting edge data
I'm 71, designed and built 50 houses so far. Builders now quote $162 and up per square foot. I'm building my next house for $20 a square foot or less, off grid including solar and wind power systems
Nice!!!
Where?
I believe people not waiting on interest rate, people waiting for housing prices to drop normal or market crash
or both. rate drop and price correction.
Yess
Only people I know that are waiting for rates to drop are those who purchased at high rates
everyone I know is waiting for prices to come down because they simply can't afford a home
True. People are in shock and stunned - nothing is moving because nobody CAN afford a home when it's 6-10x your yearly income. It should be 3x, historically. So that leaves investors and people from out of state if the locals can't afford anything. Right now, where I live, 15% of the entire urban area is corporate and investor owned. 100K properties - just vacant or a second home that's barely used. Huge inventory being held off-market. We saw it in 2008 and it will happen again. Those who want to live here long-term will stay and all of those looking to get rich will pound sand and cry as they leave.
Barbra is completely clueless as to how the average person is feeling pinched in this environment.
Unfortunately, the average person isn’t a home buyer.
@@adrianpaz7310 Those that are do realize that it's now half the price to rent versus buy. Housing has been hugely impacted by investors looking to make a profit and our government seems unwilling to do anything about it. So we all wait, because every house of cards does eventually come crashing down. The question is this year or next?
No she is not she holds real estate she is trying to trick people into buying a failed asset she over paid for. She is taking losses and is trying to hold the real estate market up so she can continue to sell her dropping “assets” I say it all the time and will continue to say single family homes are not assets.
The average person isn’t homeless. We’re former owners who aren’t waiting for rates. We’re waiting for price corrections and “rv” currency change. IMHO
The average person will keep waiting and keep complaining they can't afford housing.
Living in Oklahoma here and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
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. This is not financial advise but get buying, cash isn’t king at all in this time!
Many people lack this kind of information, which is unfortunate. I understand why some people panic. It can be hard without enough information. I have been earning over $51k passively by investing through an advisor, and it doesn’t take much work. The economy’s performance doesn’t matter; good wealth managers always make profits.
*@mellon-wrigley3* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
The decision on when to pick an Adviser is a very personal one. I take guidance from “Gertrude Margaret Quinto” to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
This guy’s been talking about a crash for 4 years now.
Dr burry predicted the 2008 crash years in advance. Also the economy has been unstable since march 2020
I think Barbara is dead wrong, she must have a money driver or some sort of self interest behind her statements.
That's why you have to take what they say with a grain of salt. Self interest is nearly always at play.
A 1% drop in interest doesn’t make a big difference when everything is overpriced and inflation is still “sticky/permanent”
Also when blackrock.can buy for 200k.over asking
@@ralphpal its a funny thing, if there is a drop of % apr , my humans will think it will keep dropping and the price may keep falling.
Its an election year. My guess is they will juice the economy and housing market until Oct or Nov.
I've been following this channel since 2021. He's been telling us not to buy for almost 3 years now warning of a crash and sharing all these data points. I bought my house 200k over market price back in April 2022. People I know are buying houses that are 30% less expensive than my house and still have a higher mortgage now. People can't hold off their lives until a crash happens or a correction happens. While prices haven't dropped but actually increased in San Jose, getting a mortgage now is extremely painful. A lot of people I know wished they actually bought in 2021 and 2022.
I live in the NE Corridor of Lakeland in Davenport, FL. One of the biggest areas in the country for net migration. I definitely see the moves here have stalled and we have new construction everywhere and barely any buyers anymore. FL has a big crash coming. The cost of living is so far off compared to wages
That’s good to know because I know seniors want to move to FL from CA and they are worried that there is not enough inventory and prices are going up.
I so appreciate your objective analysis, and your putting up with the critics. You are helping a lot of people avoid a financial disaster. Some people do not remember 2009 and how many lost everything. They paid inflated prices for a house, then had to move due to job loss. They lost everything they put in the house and then some.
Thanks for the comment!
kbail9806 Agreed. And we should take what realtors say as being motivated by pure, unadulterated self-interest. Look back at any online posts or news stories from realty companies in 2006-2008, and look very closely at what advice they were giving out. Look at the overt lies they spewed, making outright claims about the future price of these high-value assets. To be fair, the front end mortgage market was only half the issue in 2009 and realtors were just cashing in on the boom. They weren't objectively at fault then. Now, as they lie about housing shortages, ignore data about apartment availability, and flatly lie about what the housing market is likely to do in 5 years, I'm willing to lay a lot of fault at their feet. No realtor, acting in a fiduciary manner, would ever allow someone to buy a home while foregoing inspections and the like.
Barbara is wrong
Agreed.
Barbara is 100% correct, just wait and you are going to wake up with egg on your face.
What, you mean record unaffordability isn't going to explode upward lol??
Dr Robert Schiller has said he believes rate cuts will drive more people to list their homes which will flood inventory and possibly crash prices
We will see where things are in a year. Don't live in your California/Florida/Austin echo chambers
Barbara is probably correct, there are 10 buyers for every home for sale. 8 of those buyers are companies or investment groups waiting to get homes for cheap and over charge on rent. From that perspective, she is correct.
That's what I thought too. Foreign companies and investment groups.
I'm in the Tampa St Pete area and in my neighborhood, near the beach, lots of houses have sprung up for sale in the last year and not a single one is selling. They are dramatically overvalued.
2:35 How's EVERYONE going to buy a house when cost of living keeps rising Barbara?!
We can stop eating and sell everything?
Work 3 jobs & starve ourselves that’s the only way we can.
It's not everyone. Just people who can afford. And considering we are in a massive shortage overall for most people there will be someone richer who will get the house first.
Thank you, Nick! The realtors here in Palm Bay are still preaching from the rooftops, "Inventory is low!!....prices will only go up!.....hurry and buy now before you miss your chance!"
That's hilarious. Here's a chart of the inventory in Palm Bay: map.reventure.app/dashboard?geo=metro&dataPoint=total_active_inventory&lnglat=%7B%22lng%22%3A-80.62372720312476%2C%22lat%22%3A28.49469733258603%7D&zoom=6&graphView=true&GEOID=37340
Send it to the realtors.
Lag efect!!
Interest Rates and Price Indexes; Commercial Real Estate Price Index, Level (BOGZ1FL075035503Q)
S&P CoreLogic Case-Shiller TX-Dallas Home Price Index (DAXRSA)
S&P CoreLogic Case-Shiller FL-Miami Home Price Index (MIXRSA)
S&P CoreLogic Case-Shiller CA-San Diego Home Price Index (SDXRSA)
I have some chart at community section....
What Realtors say
A lot of them are real clowns.
The Space/Treasure Coasts have incredibly increasing inventory. PSL has had huge reductions. Stuart condos are listing about 20% below 2022 sales prices.
In the early 1990s, when I bought my first home in Miami, first mortgages often came with rates of 8 to 9% and 9% to 10%, which was quite common. It's important to consider that we may never return to 3% rates. If sellers are compelled to sell, home prices may need to decrease, leading to lower valuations. I believe many others share this line of thinking.
If anything, the situation will deteriorate. Affordable housing will soon become unaffordable. Therefore, I advise anyone who wants to take action to do so now, because today's prices will seem like bargains tomorrow. Unless the Fed tightens its grip even more, I believe we will witness hysteria due to rampant inflation. You can't partially rip off the band-aid.
If anything, the situation will deteriorate. Affordable housing will soon become unaffordable. Therefore, I advise anyone who wants to take action to do so now, because today's prices will seem like bargains tomorrow. Unless the Fed tightens its grip even more, I believe we will witness hysteria due to rampant inflation. You can't partially rip off the band-aid.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sonya lee Mitchell is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
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’m in Florida, a local with a decent salary above the median household income
Inventory is everywhere but things are sitting in the market, I’ve heard 5 months or longer. Depends on the area but Cape Coral and Lehigh areas are not selling at a high rate
It’s stupid for me to buy anything above 300k at these interest rates along with how high taxes and insurance rates are going
There aren't 10 buyers per home for sale in my neck of the woods. I heard all kinds of BS from realtors over the years. Barbie is a realtor. I trust you Nick!!!
Hasn’t Nick been wrong for 3+ years now 😂
Are you a realtor by chance?
@@Yui789esss Nope but entertain us and point out Nick's lies.
@@jermon983 easy, there a lot of investors sitting on the sidelines waiting for interest rates to drop so they take their money from high interest savings account and invest into real estate …. Something he neglects to mention
Now why would I do that when most of what he speaks is data results.
That Barbara shark is a shark through and through, she lies.
I think Barbara jumped the shark
Housing prices ALREADY went through the roof. My husband and I can't buy a shed in the desert now.
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much monthly?
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Mrs. Juliana Heidi has really set the standard for others to follow, we love her here in the US🇺🇸 as she has been really helpful and changed lots of life.
Very profound! Mrs. Juliana Heidi has this great force like the ocean. I have never seen any of her clients complain of loss.🌊❤
l agree. Based on personal experience working with an investment advisor Heidi, l currently have $580k in a well diversified portfolio, that has experienced exponential growth. It is not about having money to invest in stocks, but also you need to be knowledgeable, persistent, and have strong hands to back it up..
Whose buying? There are a lot of layoffs and even though I qualify now I cant see myself paying these crazy prices.
Good question. Not very many people.
Mortgage applications to buy are still about 40% below pre-pandemic norms.
Corporations. Both domestic and foreign.
The ham&egger RUclips investors. Who throw this crash bro term around. Are moving funds around trying to stay afloat financially.
I know people who have been buying this whole time. I think they are probably house poor. My coworker just bought a house in Goodyear AZ in the $500s and will have a variable interest rate in 15 years. Everyone that doesn’t want to rent seems to be settling for these high prices that I know
How don’t people know the difference between whose and who’s? You don’t deserve a house.
Here and Idaho the inventory is exploding and the prices are crashing you see all day long 20k 30k 40k and 50k dollar price drops.
Thanks for the feedback. Idaho has already had a 10% correction. More could be on the way.
I'm also watching the Idaho prices with a microscope. Just last week when driving the neighborhoods, new home construction & inventory is still booming while prices are remaining flat or dropping. A little, not a lot.
I bet you're special Idaho😊
But who wants to live in Idaho 😂
@@superslyko123 And the houses the publicly listed companies are constructing in Idaho are pure crap. Built as fast and as cheap as possible. i decided to remain in Alaska.
In Florida, sellers are getting desperate. Prices have been coming down. I’m now seeing a lot of more “Assumable mortgage” advertisements, which is a great incentive for buyers.
Great job on all your videos and the Reventure app. I enjoy watching these. Any plans to expand the coverage of Reventure app beyond US, like Canada or Australia?
Economic stress is what's going to cause housing prices, and other assets, to drop in price as it always happens. Wait till high unemployment kicks in. It won't be long.
Thanks for the comment.
What's interesting is that home prices in markets like Austin/Boise have already corrected by quite a bit, even with still very low unemployment rates. Imagine what would happen once the inevitable jobs downturn actually hits.
Bang on - Canadian unemployment is raising too. Feels like were about to come crashing down
Bring it already!
Full time unemployment is rising rapidly the fudge the numbers with underemployment more part time jobs.
Almost all new jobs are government jobs. They can print 2 jobs for everyone laid off.
Kudos to you! At the moment, you are the only person providing non-emotional, unbiased, data-based insights on the housing market.
The real estate market is cyclical. Boom/bust cycles are common, and have occurered in the United States throughout the 20 century.
Property cycles tend to curve over a 15 year period. If history is to repeat itself, the next two down cycles should be 2025 and 2040. Expect to see upt 60% price reductions. Great content, thanks for sharing.
Uh no housing market is not "cyclical". In fact values have only gone down of note once in the last 90 years.
Keep renting.
I live in South Florida and I'm a realtor and I focus on first time home buyers and inventory is not exploding, it is low.
I’m a buyer in south east Florida. I agree inventory is NOT keeping up with the influx of transplants moving down.
❤Thanks for all the info. I appreciate it so much ❤
Re-adventure is absolutely right!
You’re right on target buddy !
Corcoran is an avid hypester. If she could raise rents to double every yr, she would. This is the kind of behavior that kills young people. I wonder if she would have done so well going through this as a young person.
I live in Palm Bay Florida (central FL) and housing prices have gone down on new builds and I am starting to see houses sitting for awhile.
I am in Marion County and I am starting to see unfinished houses go up for sale. The same thing that happened in 2006-2008.
I live in Jacksonville formerly Fort Lauderdale where I sold my house, the only price drop I've seen is on new construction and it's still not enough
@@ursulamullikin4723 yes, too high still, I agree.
Here in Tampa I am seeing houses sit for months. They are just too overpriced.
@@lominero5 wait until the panic sets in. 🙃
We went ahead and pulled the trigger closed two weeks ago. Inventory might be going up in certain parts of the country but we bought outside of Knoxville Tennessee and there
wasn’t a lot available. We lucked out and bought a beautiful home with a beautiful view. I’ve been wanting to buy for a few years and I just felt I should pull the trigger because everything is just so uncertain. I don’t know what’s going to happen and I don’t think anyone else does either so if the rates go down I will refinance.
You probably way overpaid.., been watching that market for 3 years looking for land with a house and everything was 400-500 % higher than before the pandemic… check the county records and see what the people you bought the home from paid , it’s public records, i guarantee you just paid at least 300% markup .. housing prices will be down 50% in a couple years , even if they cut rates , people can’t qualify. And the 2-4 million people that lost jobs in the last year or 2 cannot find work .. hopefully you paid cash .. or have a bulletproof job you work at with no layoffs..
@@mikejones3155 I actually feel like we underpaid for what we got. The home and land is stunning, more than I could have ever hoped for. In our case, doing what you suggest is not possible as the prior owner built the home back in 2004 so that's the only record we have. So yes, in 2024 it was more than was paid back then
Superb updated research.......................keep it going for those interested!
Home prices are only beginning to rollover. Same thing happened in 2005-2006. Those were the roll over years for last rodeo. Once the rollover is apparent to Mr. and Mrs. Seller, prices begin to fall at an accelerated pace. Emotions change. They become negative which cause some to panic which equals sharp decline at an accelerated pace. We have approximately a two year term for a bottom in prices to form and it will be a long relatively flat bottom as they always are. Buyer sentiment will be negative.
2006=2022 2007=2023 2008= now
Well done, thanks.
I live in the Tampa/St. Pete area in a condo and you are right. Lots of people are selling because monthly maintenance and special assessments are skyrocketing. This is due to insurance increases and complying with new safety regulations for older buildings. For a lot of sellers, this is their 2nd home that they now can't afford.
Very informative. Thank you. Quite a time commitment from the listener required.
in miami a lawyer client of mine is taking on more staff for foreclosure
I read an article regarding housing info using data and they gave you and your channel positive feedback
This might change your mind in Chicago. A total of 50,759 U.S. properties started the foreclosure process in Q1 2022, up 67% from the previous quarter and up 188% from a year ago," the report stated, with Chicago alone seeing over 3,000 foreclosures in the first three months of the year.
3,000 forclosures and 250,000 newcomers arrived and are sleeping in the school gym... unlimited demand in Chicago. Investors will rent out some of that inventory.
It’s really neighborhood specific in Chicago and suburb specific in the suburbs. The houses in the desirable suburbs seem to sell in days.
@@euenfheiejrj State and local governments just gave 5,000 free apartments to 5,000 illegal alien families in Chicago, this puts upward demand-stress on the market making all the other housing options much more in demand and more competitive... it's simple common sense, the illegals get all the cheapest options for free which raises the prices for everyone else because all that is left is more expensive options... there are hundreds of thousands of illegals in Chicago alone doing this. This is your tax dollars hard at work to make your rent and mortgage much more expensive.
"the state has spent $41.4 million so far to resettle more than 5,000 households, according to the Illinois Department of Human Services." - Chicago Tribue, March 1, 2024
Been a few months since I've been to the channel, thanks for coming back to make videos for us.
Babs is completely wrong.
She does seem a bit off base. Would love to debate her some time.
@@ReventureConsulting I’ve seen that setup before - someone who shoots from the hip versus someone who has data and evidence… Instincts can only carry someone so far.
I think it's arrogance that drives her, not instinct
It really doesn't matter. I lived through this in San Francisco from the early 90s. A 20% price drop on a $1.5 million house still makes it $1.2 million dollar home. Whoopy! I can buy two now!
Yes, this is the big picture. I'm in Seattle. No savings to be had here.
Yep. Exactly.
Finally a realistic commentary based on factual information, not emotional stupidity! DATA is indisputable! Good video!! Thank you for posting.
Great Info. Thanks
Don’t forget what Barbara said in 2007!!!
Was she saying the same thing? Cuz if so, I’m not going to be surprised.
Yeah dude, wtf, tell us what she said.
@@semi-chubber2388I tried to look it up but couldn't find anything from 2007.
She was on the Today Show on March 1, 2007 telling everyone that 2007 market is the time to buy, pricing will only go up, and that the “sky is not falling” 🤡
Nick, have you seen the 5 year outlook on the Case Shiller home price index? Looks like its about to fall off a cliff..
Thank you!!
Excellent!
You’ve been predicting the market crash for years now so how is this video different? Give it up, Nick!
I can’t believe people are still listening to this guy. At this point he has cost many of them tens of thousands of dollars in equity they could’ve gained if they bought a home a few years ago.
At one point they will get it right
He didn’t gain anything by saying the housing cost is going down.
@@user-ru5im2zx7t To the contrary, the clicks and views he gets equal big bucks. The more apocalyptic he makes it the more views he gets. His channel has grown unbelievably from this narrative. He’s been pushing this crash since 2021 at least. Now he’s selling his app and membership all built on sensationalism. Meanwhile he he’s cost those who have listened to tens-hundreds of thousands of dollars. BTW he’s not a real estate expert and doesn’t even own anything.
all the Airbnb houses are finally hitting the market
They have been doing that for a while. It is funny to see their listing because it is obvious to tell from the decoration which were Airbnb.
I’m seeing this too
@@lominero5 but a lot more now... cause they can't afford too keep going red..
It is nice to be able to go to a place that actually tells the truth on current state of housing.
If you are only looking for data that matches your narrative, what good is it without context.
If the number of listing increases but days in the market remains the same while prices continue to go up. Is there an issue there?
Hunker down guys, it won't be pretty. Better get your preps ready.
Clean your credit, do your taxes, pay debt to be ready, and most important keep your job 😂😅
God, Groceries, Gold, Guns, and Girls.
The ten buyers per house sitting on the sidelines are the people that cannot afford to buy at these prices and definately will not be able to afford to buy if prices go up.
THIS is a good thing! People could not sell their homes 2 years ago because inventory was so tight they couldnt find another home to move into. Year over year, home values are still up in my area. Prior to thr pandemic we eere happy with a steady 4-6% appreciation a year. Everyone got greedy during the pandemic.
Here in greater Tampa, there are so many new homes being built that it is of course spiking. Near me in Pasco county, they are building a town (Angeline, FL) with 7500 houses! And this is just on the outskirts of Tampa, but its happening all over.
Imagine what all that building will do to the water table and that area's propensity for sink holes!
Not in Northern NJ. Been looking for months and the bidding is nuts.
Fuck northern NJ. Overrated market
Thanks for the comment.
I'm not surprised. Inventory levels in Jersey are still down 50% from pre-pandemic levels. Check out this graph: map.reventure.app/dashboard?geo=state&dataPoint=total_active_inventory&lnglat=%7B%22lng%22%3A-74.5165725292253%2C%22lat%22%3A40.567790111594974%7D&zoom=5.048264301872542&graphView=true&GEOID=34
Indicates a severe shortage of housing that will likely push prices up. Opposite of what's happening in FL/TX.
People are still delusional over here in St. Petersburg/Tampa, but the people who HAVE to sell are finally lowering prices. The high-end homes are getting especially crushed right now - a home that listed for $8.1M last January finally sold for $4.5M (45% discount). Mid-priced homes in my neighborhood are getting hit now too - we had about 80 homes listed time time last year, and now there are 240 listings!
It’s not uncommon to see 2 or 3 homes listed for sale literally next to each other.
No home should sell for 8 or even 4 million. It's highway robbery...
@@survivor9898 Well for what it’s worth, it’s the land that’s being sold for that much. The house basically comes with it for free lol
Yes I get that James
Was the property sold for a 45% discount... *to the ASKING price* or it's actual value?
I’m confident that the reason why people keep saying the inventory is low and that the prices are still going up, are those that are just blindly listening to whatever their realtor tells them. Most realtors never want you to admit that inventory is going up and prices are going down because it doesn’t behoove them and they don’t want buy or sell homes at lower prices. They are only incentivized to buy and sell homes at the highest values possible. I’ve learned that you have to do your own research and listen to the data, not what any realtor tell you or someone you may know.
Thanks for covering Phoenix! I had to leave during the pandemic and I'm looking forward to going back and finding more affordable housing options.
Austin, TX slow down a LOT also, took my friends 9-12 months to sell.
I don't doubt that there are that many people waiting on the sidelines hoping to be able to buy a home. I dont think that it's going to be just increased inventory or one or two percent reduction in interest rastes that will bring most of them off the sidelines though. Home prices are still way way too expensive for most people to afford. Home price can only go so high before no one can afford them, and I think we're close to that limit. The powers that be will push off a crash for as long as they possibly can though.
I'm in Southwest Florida and I've got to tell you they're having another building boom here. I cannot believe how many houses are being built in Cape Coral. Not just houses but condominiums everywhere .
Here in Florida the prices are still too high, price cuts are happening but the overpricing is still a big issue. Lots of new homes coming on the market but not affordable- existing homes are way too expensive. Buyers need to be patient so that prices come down. Lots of people were spending money they didn’t have and now they either sell they’re homes or loss them. Most people in Florida don’t have job security.
The Houston market is firing on all cylinders; multi-million dollar homes selling very quickly in the Memorial and Tanglewood neighborhoods. Suburbs may be a little slower, but the metro is hot. We lost out on a house this weekend because the bids got too high for us.
I grew up in Houston and watched my upper middle class parents (Dad was recruited out of the Air Force by Texas Instruments) lose their home to foreclosure…along with many of my friends “oil-tech” families…during the oil recession in the late 80s. I remember my Dad getting desperate enough to apply to the local McDonalds. He was told he was “overqualified”.
Houston is NOT immune.
Agree. Friendswood is still strong. We got lucky to get a good value home after losing out on multiple over the summer. Neighbors house sold instantly.
Houston's housing market has always been a bit recession proof. Seeing as to how Houston's housing prices are like 1/2 that of Dallas's, and 1/3rd that of Austin's... it's not hard to imagine why.
Glad I bought in cypress in 2015 it was still dirt cheap !! Had I known what was gonna happen I would of bought another one 😂
Multi million dollar homes have always been insulated from external pressures due to these shoppers are not as price and interest rate sensitive. My homeowner's policy has doubled this year. This affects people differently. The total cost of ownership is considered my the average buyers and banks.
Prices are going down in Florida. I am starting to see more foreclosures advertised. However, HOA fees, Property tax and CDDs make the home unaffordable. Prop Taxes are too high in FL.
Sw Fl too!
There's always going to be a lag, and every time someone overpays for a home, they reset the timer for price drops. All it takes is one comp for sellers to hold for price another 30 days in most cases.
I'm in Central Florida. Rent costs are still far below buy costs. For example, I currently rent a house and if I were to buy a similar house in my neighborhood my monthly payment would be over 50% higher (and that's with 10% down and excellent credit). So there is no incentive to buy around here. In order to even consider buying in my area, I'd need to see the cost to own come down to around rental prices.
I think you are doing a great thing showing people true data. It’s important for people to know the truth so the can figure out how to conduct their lives accordingly.
Thanks
She’s out of her mind
Agreed!!!
Those 10 people are corporations are buying the homes.
You can inform me exactly in which area of Florida prices have gone down? because from San Agustin I visited a month ago, to the South the properties are super expensive.
Thanks for the video advice on the market. It is interesting. I am surprised about certain areas of the Northeast, in particular, Chicago, because so many people have been fleeing the area due to crime, politics, etc. I imagine what's happening in Florida is because many people moved there from out-of-state based on fear and then realized it's not for them, so they are reselling. At least that's my first impression. I could be wrong. I am in the Northeast, NY, in a suburb by the ocean in a market that continues to rise. I'm contemplating whether to sell high now and move while the prices are coming down in Florida, even though I'm not quite ready.
SELLERS ARE IN FULL PANIC NOW!! FUNNY HOW THE TABLES HAVE TURNED!!
I do not think the panic has set in yet....it is coming though!
Government meddling???
FAKE NEWS…
Don't think anyone is panicking.... If you want to buy some shitty cockroach house, that's your call. All the houses near ours are still selling for massive amounts despite a few cuts here and there, and they sell fast.
BS. He said markets are strong in some areas, weak in others. A blanket "sellers are in full panic" is just dumb.
I guess that if this dude continues to predict a housing market crash for the next 200 years, he’ll eventually be right.
Amazing information am listening my whole community support all your FACT,FACT,FACT KEEP IT UP GOD BLESS 🙏
Very helpful. Thank you.
Why isn’t Vegas following this trend this time?? Isn’t it a classic boom/bust town???
I think Vegas has turned into a different animal..raiders stadium, a new MLB stadium starting this year, and a high speed rail from LA is already breaking ground. A new NBA franchise is proposed as well, so..
I think it's because of insurance rates. Cost of insurance has skyrocket in Florida where Nevada and Arizona aren't really affected by extreme weather.
Great question. I'm not totally sure.
In late 2022/2023, Vegas was following this trend (prices corrected quite quickly). However, since then, there has been a severe shortage of new listings, and inventory is back down.
One thing to note is that buyer demand in Vegas is still very low. But the market appears strong because listings are also low. Will be interesting to see how that shakes out.
Foreign buyers
Im hoping investors bail soon. Im grumpy at the build-to-rent inventory happening too. No way thats a good thing.
Atlanta is always skipped, you could do an entire video on Atlanta, our tax hike was the 5th highest in the country and the housing prices have nearly tripled since 2020