Did you see 60 mins with Leslie Stahl reporting on this...there was a young couple college educated decent jobs cant afford to buy and rent was well over 2100 per month...the home owner was a company out of Canada. It's just awful.
@@chelll6227 right, I'm fine with apartment complexes and high rises being investment owned, those are tens of million dollar buildings. But single family homes?!?! Allowing investment firms to purchase single family homes is just disgusting and is unethical, immoral. Late stage capitalism at best.
They are a favorite boogeyman right now. Truth is that it is mom and pop landlords who own 70% of rentals. The business of renting out single family homes for profit is wrong, whether it is done by a corporation or individuals. Around 40% of Americans live in rentals, less than 1% prefer to rent due to being students or traveling professionals. The other 39% have to rent because housing inventory is made artificially low by those with wealth renting out homes for profit.
We could make it that companies after buying up 1000 homes need to build their own rent to own single family homes. That applies to homes, and town houses. Companies can buy infinite condos and apartment buildings to rent or they can build their own new units of single family homes to rent. This would add more units and take pressure off buyers. This also helps mom and pop landlords as most of them probably own less than 20 rentals let alone 1000. It allows many people to become rich landlords while forcing mega firms to actually produce some real value for the economy rather than just extracting wealth from the populous
It’s the hedge funds and believe it or not AIRBNB is going to make homes go up crazy also because if you can make so much more by doing that then renting it’s only going to get worse
I told two realtor friends that I was waiting for the crash to buy my next property. They simultaneously shake their heads and say, "There isn't going to be a crash."
this shouldn't even be allowed to be on television its absurd have an anchor speculate with a real estate agent. Housing supply is about to explode construction has been high despite what the news is saying there building all over and people dont not have lots of disposable income fighting inflation. there is even a possible crisis worse then 2008 (i only said possibly) im betting for a 2008 crash if not close to it
I wonder if this has anything to do with the fact that corporations are outbidding cash strapped student loan holders and purchasing homes just to rent them out to cash strapped student loan holders??? 🤔
I was renting a nice condo in Oakland. A Chinese all-cash buyer paid the owner 4x what she bought it for, kicked me out, and is holding the unit vacant (so Chinese and US tax authorities don't notice the purchase). It's his piggy bank. Don't underestimate the influence of foreign investors like that on certain US markets. The other two factors are wealthy Boomers who own multiple properties and big investment firms like Blackrock, which is worth $10 trillion and has a massive real estate portfolio.
People need to wise up, and quit falling into the student loan trap. Devote your life to some school, only to graduate and make 40k..... and saddled with 100K+ in debt. It's stupid.
@@wvmom2727 I'm in So Cal. Houses are being flipped. This is not uncommon, but some are being flipped with NO upgrades and the new price is about $200k over the sale price just a week earlier. Time will tell to see if they can get the new price. But with minimal inventory, people are desperate.
my home was 450k in 2011 at the bottom price when the 2008 crash happened today its going for 1150,000 . it was 1150 before 2022 it took only 10 years to rise 700k
They have really no choice but to fall. Rising interest rates all but guarantee it. The fed is screwed as they have to fight inflation with higher interest but the cost to service the 30T debt goes up billion's.
@@bertblue9683 you know the Federal Reserve can buy houses through a proxy like Blackrock right? They can make it go up for as long as they want. Our entire economy is rigged.
They're the ones that created the bubble and they're the ones that are going to pop it by raising interest rates. So their warning is about as prescient as you're going to get.
They definitely don't seem to have any foresight, do they? It was easy to call inflation in mid 2020 all while they were denying it. Then they said it's transitory, then they said it's at 40 year highs. Thanks captain obvious Fed. We are not getting our money's worth from our government.
Of course! Great for the title companies, real estate lawyers, flippers, home improvement & renovation businesses, real estate developers and any entity that has a vested interest in feeding off of this artificially inflated market!
@@SuicidalBabyTTV All A.I. has programmers behind it who write the code and various managers who write the specifications and requirements, so blindly blaming it on "AI' is stupid. "AI' isnt something magical. So Carl is right why would anyone trust Zillow who who totally screwed up.
I have invested in stocks and have 6 figure job, no debt good credit and I can't buy a house. This is ridiculous and I feel for the people barely making ends meet wishing to buy someday. It's sad as hell.
What’s sad is knowing this IS on purpose, called the wealth effect. People with stocks, bonds and homes feel rich because currency inflation causes price inflation, and when you own what’s inflated in price you think you’re wealthy. But you are not, these are nominal values - not real. Try a few pod casts by Peter Schiff, Lynette Zang, Mike Malloney, or Rebel Wisdom, maneco64, I love prosperity, or read The Road to Surfdom, The Everything Bubble, The Real Market Crash and how to prepare. Good luck and stay safe
We already knew that. When you had the rich buying up home well above asking price. Economist have said for YEARS there is no affordable housing. Combined with stagnant wages in all sectors. Of course there's a housing issue
Umm..last time it was a banking issue and it's still a banking issue... they've made loans on homes that are 25% overvalued this time around. Homes don't just go up 35% in 14 months. 🤔
Definitely a banking issue.. I was accepted a loan before covid 19 bs for 425k by myself and now I’m being accepted for 520k even tho I still have the same pay at my job and 12k more in debt from last time (car for family member) so idk.. I think I’m not the only one either, there’s people out there buying houses they really can’t afford and I think it’s a matter of time for things to go south. I’ll buy a house once I see the outcome. Which I’m sure is it’ll be a crash even though people are denying it.. I know people who have bought a home they can’t afford and already struggling
Yeah, that's what they said in 2020 at the beginning of the pandemic. Didn't happen. I had been poised to try to buy my first home, but prices rose instead of lowering. Even if it actually bursts this time, I've given up. At this late point in my life, it's actually cheaper to keep on paying rent for the rest of my life than it is to buy something. The real estate industry is greedy and despicable. Homes should be for living in, not for making a financial killing off of.
Its not cheaper to pay rent. You are paying for the owners mortgage, taxes, insurance, tax deductions and equity in the property you rent. You also lose out on the increase of the property's value which was 28% over the last 2 years. If you had a $150,000 house the last two years you lost $42,000. Renter's lose $100's of thousands of dollars in the long run. My guess is if you rent from 25 to 55 years old, you will lose $400,000 in equity. That's the reality.
@@obijuan3004 yeah, it’s more expensive to rent in the long run. I’m waiting for the next bubble to buy again since my first home was too small. We’ve outgrown it but right now the market is too successful.
They are ignoring the elephant in the room. This time around, hedge funds, mutual funds and other such investments are able to include hard assets in their portfolios. This means that residential buyers are competing with the likes of Black rock, Vanguard and Fidelity for each home as it becomes available. Well, unless the laws change back, these companies will hang onto their properties whether market tanks or the market spikes. So, there won’t be any sell offs. Inventory will remain very very tight this was not the case in 2008. And, as far as people going above their means to buy a house, just what do you think it means for the country when people are paying two and three times more for a simple three-bedroom home then they would have paid for years ago?
Most local media is now owned by Sinclair Media. They have a vested interest to protect their sponsors. Thats why they didnt mention it and why outlets like CNBC, CNN and Fox never look at the root cause of problems, rather the symptoms. If anything those sponsors want a crash so they can buy up all the real estate at very cheap prices and put them on the market for rent.
It's a double edged ⚔️, on one side people are getting prices out but on the other side we all have investments with Black Rock, so it makes us money what they are doing...🤔🍦
@@mojavedesertsonorandesert9531 The vast majority of the people trying to buy their first home do not get that much out of Blackrock stuffing their funds with hard assets. Most of these are young people trying to start a family or just generally getting their start in life. Some of them are single parents trying to get out of the apartments. You know, the sort of people that have to scrape up money for the down payment, stress and sweat over what state their credit is in because they want to get a loan from the bank for the house and agonize whether or not they should go through with it because the interest rates are rising and, suddenly, the monthly mortgagepayment for the exorbitant amount they’re about to pay for the house is now over their budget. It’s usually the people who come to the table with hundreds of thousands of dollars in cash to engage in bidding wars driving home prices sky high that are also making money from Black rock. They are the only ones for whom this is a double edge sword. For everyone else, you’re getting screwed over twice. Rising prices of everything are making it so that you can’t save as much toward your retirement plan where you would benefit from these funds and, you’re being priced out of houses while, at the same time, landlords are hiking rents up. If something isn’t done to ameliorate the situation, I firmly believe that the American dream is effectively dead.
Vanguard and Fidelity don't buy homes. They invest in ETF's and REIT companies that buy property of all kinds, commercial and residential. Black Rock doesn't buy homes they invest in a company that does real estate investments. That company, Invitation Homes, bought up homes in 2012 because they were cheap and empty. Investors have always made up around 10% of the housing market, I know I was once an investor. Now that has climbed to about 20%, but its not Black Rock as much as its the people who used to own strip malls are now buying homes. The reality is that nation wide we are about 4 million homes short of pre-2008 production. Sales of new homes has slowed because the new home builders have sold about all that they can for 2022. New home buyers are waiting 12 to 14 months for their homes to be built, the rest are on waiting lists just to purchase a home. Builders can't sell 2023's future homes because they don't know how much it will cost to build them. So it looks like new home sales are down, but not really. Its like saying concert ticket sales are down after the concert has sold out, but people are waiting in line for the new concert. I sold my rental property in the 2006 bubble and bought more in 2009 when everyone was in a panic. I sold it all in 2018 and 2019 because I thought the prices had peaked and I was tired of dealing with dysfunctional renters. Investment firms are not really driving up the price, you can't drive up the price if no one is buying. They are taking advantage of the current demand. Its really a lack of homes that is driving up the prices... SUPPLY AND DEMAND, rules it all. If there is no demand for homes, there will be few investors of any kind.
@@Luis-ef2zn that's an old civil war Era tactic to be asleep and make people think you aren't asleep until enough people defend, or pretend your slumber ain't happening. Result: Deeeep Sleeepies
Common sense said this to many people months ago. Buyers ignored it. Now, the Federal Reserve is saying it and people will ignore it. Then, it will burst and buyers will be under water asking "wHeRe'S *MY* bAiLoUt?!"
The Fed released way too much stimulus over the past years which in turn with low interest rates sent home values parabolic in turn caused property evaluations to increase which triggered higher property tax and higher home owner insurance
We're heading right down the same path we were in 2008. Houses are WAY over valued, people are going to jump right into a 700K house that's actually only worth about 400K.
It depends what people do. If they are buying a house to flip in a couple years you are correct. If they are buying it as a place to live the next decade or so they will do Ok. If they stay 20 years they will do very well.
My Friend is buying a new home from Lennar. Their mortgage Co is approving for a ratio of 59% monthly mortgage payment with escrow to income. The recent rate hikes are causing him to be denied a mortgage. Moral of the story is YES, they are putting people in homes they can no longer afford.
They never even mentioned that what caused the last bubble bust was all the foreclosures that came on the market at once, that could definitely happen again, with what people are paying for homes!
I've been trying to buy in Tampa FL last 3-4 weeks.. everything is soooooo over priced it's insane. I'm literally watching people spend 360k on an 800 sq ft to live in the hood lol, no thanks. These people are paying 40-50k extra just to get the price back what the bank says is the true value.. then another 20% on the home itself for the down payment.. I'm sure this is sustainable lol
@@thatoneguy94512, it sounds like you are a first time traditional home buyer pushed out of the market per the pricing and forced to rent until there is a cracking in the universe that will allow you inside. I agree, this is not sustainable and yet it is going to get a hell of a lot worse before we see daylight, even if it is only gray daylight. Should you purchase in a HOA community be aware, even if the mortgage is paid on time but the HOA fees are not, a HOA can foreclose and HOA fees are increasing.
I live in Michigan and I'm seeing houses owned by older people who think it's worth $150,000 to $250,000 but everything in the house from the carpets to the appliances is over 50 years old. These people really seem to think they deserve a couple hundred thousand dollars for a house that they've done absolutely nothing but live in and mess up for the last several decades. I'm talking shag carpet, smoke stained walls, appliances as old as my grandma, flooring that's trashed, etc. And these people think they deserve a couple hundred thousand because the house "has potential". No you put the work in or you don't get the big bucks!!
@@sapher2020 Wrong again. I'm a boomer, me and all of my friends are rich. I have had rental homes for 20 years. I just renovated all of them and sold them in 2018 and 2019, and then used that money to make over 30% in the stock market the last 2 years. Lazy people are lazy people, but don't generalize people you'll always be wrong. There is a big market for investors to take old houses at $150k and turn them into $300k houses. Lots of those investors are Boomers who have money...LOL you don't know anything.
@@obijuan3004 You take starter homes a young family could only afford and flip them into homes they can't afford for an investment. New paint, cheapest laminate flooring, hide the big defects best that you can and double your profit. Investors are modern day locusts and your hurting the younger generations with your greed.
@@obijuan3004 so basically you're the lazy person who made money off of zero work this whole time. You're literally a disgusting leech on society. You should be ashamed of yourself.
It’s not just the interest rates. It’s the devaluation of the dollar. It’s supply and demand. It’s fear and uncertainty causing everyone to stay put, as they cannot find a home if they sell. It’s rate hikes, where most people have a very low rate, so why would people sell, and buy at a higher rate. It’s quite a few things combined driving higher prices, and that’s why we’ve never seen anything like it.
I was going through zillow yesterday looking at houses nationwide. Every house listing I clicked on was a house that was purchased in the last month and put back on the market 80 to 100k more than what "they" bought it for.
People are obviously less happy than previous generations, the standard of living has declined MASSIVELY, paying half a million dollars to basically live in a shoebox. This is what happens when your government spends your tax dollars where they don't belong, taking care of countries they have no business in, not making US citizens top priority. Then they'll complain when future generations stop having kids because they simply can't afford anymore, why Disneyland will shut down cause no one goes there anymore, why homelessness hits an all time high, cause people can't even afford to live off $100k a year and why businesses shut down because people simply refuse to work anymore because they refuse to be slaved any longer. A change has to and It will come. But at what cost?
nope, the government will bail out these idiot home buyers because they're "systemic risk" or "too big too fail"... it's a joke and we're all paying for it.
It is the investers that are really hurting the homebuyers. Maybe they need to find some way to regulate these corporations who will go out and buy up every home they can for rental investments.
Covid19 is the best thing that ever happened for realtors. People didn't want to sell their house because they didn't want to hassle during the lock down; less inventory. People were told they didn't have to go to the office, so they bought in places like Lake Tahoe. Fed wanted to keep the economy stimulated, so they kept rates super low. It was the perfect storm. Just like all storms, it will end. This is going to end bad; no rainbows.
You couldn’t say it better . I laugh at these people I bought my house for 800 2019 and sold 1.5 million 2021 makes no sense and the pain that’s comming I can’t wait 😝
@@sobeliever1638 yes because people are stupid and think that this is gona last forever . Also I’ve felt the pain in 2009 lost my house . You live and you learn .
It’s been the same way here in Clarksville, TN. We’ve been experiencing a population boom. We purchased a new construction home in December 2019, and that same floor plan NOW sells for between $85,000 to $100,000 MORE than it did back then.
2008 was a banking failure for sure but instead of helping the victims, the 2009 near-$1Trillion bailout rewarded the banks' failed policies with instant, feel-good, walk-around $ followed by 7 years of near-zero prime interest rate. There is a lot more going on in the housing market this time around, including a demand greater than supply and an older vs. newer supply of housing. There is still value available in the current market along with a lot of polished and flipped turds.
Sellers always turn them to rent with the current 5m housing shortage LOL rent is the only one prices never went down. You gotta love your cash flows haha
I'm in the Atlanta metro area, and you can clearly see homes are priced $100-200k more than what they are really worth. 1-2 days after going on market, already under contract. I can wait. I'm not in a hurry. Can't keep going up like this. Interest rates already knocking at 5%
Atlanta is turning into Los Angeles. Prices will continue to grow because the entertainment industry as well as low corporate taxes are here. Atlanta metro is purported to grow to 10 million within the next 10 years. All those people have got to have a place to live.
@@boondockpaint it doesn't snow here in los Angeles. It's not the same I know someone coming back because the weather but I do agree with you it's just going to go up just like LA
@@mimicmage I agree. I was just in LA for Christmas. It was not hot, but wasn't that cold either. I've been there a few times. Since the pandemic it's just not the same.
@@boondockpaint the cost of living in LA is too high they want to fix it by raising the minimum wage 😶 ... But yeah people used to the weather here will cry where it snows.
Realtors: Now is the best time ever to get a house, prices can only go up. Buyers: ThErE's No EviDenCe SupPorTinG a HouSing BuBBlE or CRaSh. ThErE's A sUpPlY aNd DeMAnD ImBaLanCe. The Fed: There's signs of a housing bubble brewing. Investors: We're going to buy everything causing the imbalance and right before it crashes, we're going to sell off to these suckers and leave them holding the bag.
If you can't see that people are extending themselves beyond what they can afford then you have no clue what you're talking about. A pos home by my house just went up for sale. It closed in a week for 430,000. The last time it sold it was 85,000. There's no way it will keep going at this rate. Those buyers are going to be so upside down in a mortgage for a home not worth a quarter of what they bought it for. It's disturbing.
Isn’t that the “speech” they gave us back in 2007 before Florida was the second hardest hit state? “Equity” in your home is a variable that goes down much quicker than it goes up in markets like these. I see alot of zombie houses in our future because people will be too far under water in their houses. They will simply default and walk away due to over paying for their homes in the first place.
Exactly my sentiments. We’re close to a recession, they keep trying to sugarcoat it, but if there’s a recession, and there’s millions of new homeowners, lots are bound to lose their job. Losing their income. Many overspent all their money into homes now.
That’s what happened to me in Hartford, CT. My home was over priced and I didn’t realize it, and as a un-protected teacher (no union), my job was barely paying a living wage, and then they fired us all and re-hired some of us, and restructured our pay (pay cuts). I lost my home in 2008. I had to walk away because the house was upside down.
@@dannypowers4995 right it’s so funny to hear trump supporters or Biden supporters blame each other for the massive amounts of inflation were experiencing
I grew up in Florida and left for the military in 2014. Came back recently and I am so sad to see what is happening to the locals when it comes to housing prices and rent. Me and my wife bought a house pre-pandemic for 300k when I was in the military (In Maryland, one of the most expensive places before the pandemic). New build, 3 floors, and almost 2000 sq ft in a decent neighborhood. We sold it for 340k a few years later. I told my wife to compare that 300k house with what we are seeing in Tampa right now (where 300k used to get you a mini-mansion). 300k gets you mold, holes in the wall, and shootouts down the street. I told her that sums up what a housing bubble is. This can't last and it's going to be a cluster when it bursts. We are sitting tight until that happens. I want to feel bad for the people that came down from wherever and paid 200k extra on a house because they wanted more "space", but I am all out of sympathy at this point.
🤣😂 delusional morons. You don’t know the market at all. You are in the military’s you aren’t a genius or smart… you bums wish the market in america would crash. Bum mentality
What most people dont realize is the reason that there is an inventory shortage currently. Home builders got burned in '08 and since then have been building "risk off" only building enough to meet "certain demand" - the home ahortage problem will only get worse and those sitting on the sidelines waiting for a "crash" will only be didmayed when home prices level off briefly and then continue higher....
I hope you’re wrong because I’m one of those sitting on the sidelines waiting for another 2008 😂 it was a great opportunity to buy my first home but I messed up because 840sq ft wasn’t big enough long term, so I let it go a few years ago.
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It's not an actual housing bubble like we had years ago when they were giving away mortgages for $300,000 to people flipping burgers. Today they have to qualify. And if the interest rate is low enough, the housing price will be higher. When mortgage rates increase the housing prices will come down. But the people who purchased the house at a higher price with a fixed interest rate it's not at risk of losing their house like they did years ago with no doc loans and a three-year arm
Investors have no reason to dump their real estate stable when they are paying their CEOs managing their properties bonuses in the millions of dollars per the profit of their investments.
Reside in SW Florida and just a few months ago, a house any house actually would be pending in 24 hours. Now the homes are sitting at a week or longer this is all homes in all pricing. Definitely seeing a huge decline I'm getting email alerts now with the house you saved was dropped by 80 k. We don't have to rush into buying anything. Pass by until it's right
"More equity" the value of my home was inflated by cash from off shore buyers ... fresh winnings at the foreign stock markets. I can't use the equity unless I sell or refinance.
@@bullettethebulldiva4875 The Fed doesn't lose anything. It has proven that it can create bull markets and destroy them. The destruction of the bull market in 2008 happened after several Fed rate hikes. Their recent financial experiment has proven they have the power to easily create massive bull markets too.
@@bullettethebulldiva4875 no it didn't.. the US tax payers did, we took on those losses, the Fed didn't (and no the Fed isn't a part of the government).
"Oh no the bubble we mean we this time is more like a soft landing, now is a great time to purchase before the standard of normalcy returns. We see no indication of any problems or concerns just an adjustment...." Sounds like another "realty expert analyst."
If everyone is well qualified or paying all cash in areas like CO or TX and there's far less supply than demand, how exactly do you figure there will be a crash?
@@rickj1983 1. Fed tightens 2. Economy slows down 3. Recession starts 4. Companies lay off 10% of workers 5. Those workers start defaulting 6. Foreclosures and short sales begin 7. Prices drop - Only 25% of purchases were cash; 75% have mortgages.
@Sunrise I take you don't know much about interest rates pricing people out of homes, when people can't buy homes based on payments. Inventory will increase an the price will drop.
@Sunrise When people can't buy home do to not meeting requirements. We will base this on 600k mortgage 15% down 3.708% taxs/fees payment is $3256.00 now at 5.708% the payment will be $3869.00 Not many people can afford the extra 615 mouth payments. This is what happened in the 90's to the home market.
Sure. No crash. Please ignore inflation eating into budgets, mortgage rates shooting up and the huge number of newly built homes coming onto the market.
they're dellusional... incomes haven't kept pace with everyday inflation, then factor in increased property taxes and cost of ownership... millions of people will start slipping on payments.
Well duh, because the Fed created the housing bubble. 0% interest rates and trillions of mortgage bond purchases will do that. The Fed should have normalized monetary policy once they realized they were creating a bubble (around Summer 2020).
I agree on whit what you said based on how the inflation goes the average American instead of buying Apple products, should be concerned about investing in cryptocurrencies in this way his saving would be saved if this bubble burst! Buying a house on a property in the US was never ever a good option in America first because if you own a house or property, it would simply eat you because of these taxes, and your income goes by, because of the apple products the Americans so fiercely buying, because of the inflation which is increasing the taxes too, and the mortgage.
Why do you people always blame the fed? It's as if the artificially low supply of homes and mass hysteria on the part of consumers to buy homes in a insanely competitive market just doesn't exist. The fed lowered rates so that the housing market at the start of the pandemic didn't implode instantly. The rest is all on consumers carrying out a self-fulfilling prophecy and state governments that have 0 incentive to make new homes.
@@blarpusbundersnatch9431 Because this was a Fed created bubble. Well, that and Covid spending largesse. The Fed should have normalized rates and stopped buying mortgage bonds in the summer of 2020 once they realized they were blowing a bubble. They waited 2 years too long. Normalization of mortgage rates and loss of loan liquidity gonna crush prices. Watch….
@@jeffreymarshall4572 Yeah, that's why the covid spending happened 2 years ago and inflation is just now ramping up? Money supply has little to do with inflation when employers and businesses are artificially restricting supply to jack prices. Businesses got loads of PPP money and then turned around to opportunistically drive media narratives that made idiots like you think that inflation wasn't their own invention. Stop being a corporate cuck and lazily relying on conservative boogeymen that haven't been real for 40 years now.
Youre right it wont be the same, its always something different but it will effect prices on almost every commodity including real estate not to mention commercial real estate is non existent in my area
The Federal Reserve (and the commerical banks) can print money and buy any asset they want (stocks, houses, anything)... that's why we're living in the EVERYTHING BUBBLE. When it pops, i hope these bankers are going to pay for their sins.
Why isn't the federal government putting a cap on these big companies buying residential properties in bulk and creating an artificial rise in the prices, the government needs to do something about this otherwise for an average American the thought of owning a house will remain a dream
This realtors comments about equity are ridiculous.... people had equity in 2008 also as long as values kept going up..... then one month the values started going down and there goes the equity
It all comes down to three things: location- is the house in a desirable location, inventory - is there more demand than supply, demand - are there more buyers moving into the area than moving out?
I wish. Corporations are buying up homes well above market value, thus pricing and taxing locals out of homes. Building to rent is out of control, too. Netherlands has a law restricting corporate purchases of homes. Maybe the US should take like action.
This current market is so complex and hard to predict right now with record numbers of "All cash" buyers and lack of inventory being the main factors but everybody said there'd be a crash last year when all the unemployment checks dried up and moratoriums expired so who knows anymore
Many people are not paying rent to the landlords --- and the govt likes it that way. Eventually, the landlords of single family homes/small units and apartment buildings - will to foreclosure. Then the hedge funds, Wall Street - and the Rich & Famous, swoop in and buy up all the foreclosures - like they did in 2008-10. They will then rent out all these homes - so single people and families won't have a chance to be homeowners. A country full of Renters!!!!
Exactly. I see many myopic opinions being thrown around; but one has to understand more the totality of the economic situation to have a chance to prepare. And even still, the best investors are diversifying carefully due to the number of variables.
Anyone not living in CA has zero idea what it’s like here. It’s literally rich people and poor people. No inbetween. Middle class is wiped out and that’s coming to a state near you.
As for me, I'm done with Florida. It's just not worth it. Everything is too expensive, too crowded ,and crime is out of control. As more people move in they are rude, selfish, and arrogant. As a native Floridian, Florida today has little resemblance of the state I once called home.
@@stachowi Tax payers bail-outed the banks not the people! Most of the people had mortgage Insurance and that Insurance couldn't cover all the policies that hit the companies all at once.
@Worst Case Scenario I paid mortgage insurance from 1993 till 2007! In 2007 I refinance at 75k and my homes value was 280k and pickup a rental for 25k in 2008. You have to remember in 2004 to 2007 everyone was refinancing and take spending money out to buy cars, build their business, using the home as a bank.
I'm selling. Will pocket $300k in just under 5 years. Gonna use that to buy mult. homes in next 3-5 years when the levy breaks, and it will. This appreciation is unsustainable and people are over extending. Any change to jobs will kill demand. Doesn't matter how many homes short we are if nobody can afford them, and on a macro level it's not houses being built it's apartment buildings everywhere you look. Everything is a cycle no matter how many reasons people can come up with why this time is different.
Hopefully this time capitalism finally dies and bourgeois society disintegrates into chaos. It's time for a higher and better economic system where the class system is abolished.
“Banking industry failure”… because people were walking away from their mortgage payments. The younger generation can’t stand being -stagnant-. When they try to sell their homes for $150-$200k over what they’re actually worth, and people aren’t buying, that just might cause people to simply walk away. Give it five years👌
That's what older people are doing. Not what younger people are doing. Old people are the ones that think their house that they haven't updated in 40 years is worth $250,000 even though it needs $50,000-$100,000 worth of work needed.
We have millions people coming here unlawfully who can only pay rent. This overwhelms that home rental market and drives up the price of housing because home buyers now compete with rental home investors for single family homes. Citizens living on the street while people here unlawfully get government assistance.
Oh, I see what you're saying, it's not the fault of the Fed for injecting trillions at zero interest into the economy and driving up asset prices, it's the fault of the 'brown people."
Finally all realized there is a housing bubble in US and China. When will other pandemic theatre countries accept there is housing bubble, Canada, Australia, Newzealand, UK.
In the UK its different, because there are never enough homes to buy or rent. There is a real shortage of homes and thats the reason for their cost not a bubble.
@@johnchristmas7522 When the govt artificially create a shortage by imposing evictions ban, as well as mortgage forbearance under the pretext of support for pandemic affected population, and to top it all offer free money (stimulus package) for people to remain in houses people cant afford with their income, to control the number of houses coming on market for foreclosures, an artificial sense of high demand, and less supply is created.
@@rkt81 Thats unusual for America, to try to help! From where I sit, It just shows me that Americans are vastly underpaid by the conglomerates. I watched a programme on tv last night, about shortage of truck drivers in America. I couldn't believe the actual criminal abuse of the drivers by their companies. They employ them on the basis as a contractor only, even though the companies logo is all over the truck plus they have to wear the company uniform(which they have to pay for). That makes the driver liable for everything, inc servicing, any damage to persons or buildings. Pay the by the hour, no holiday pay, force them to drive when its dangerous to do so. Then they coerce them into buying the company truck etc etc No wonder people need help. As we all say abroad, America isn't a country its a business.
@@johnchristmas7522 In US its all about business for ones having access to fiat currency, and humans are assets till they have a productive life, then they are thrown on streets making them homeless, and drug addicts.
@@rkt81 Now I know why they say. "America is not a country, its a Business"! The GREED of ALL companies, is why people cannot by homes or anything else for that matter. Come on America, make government make changes-soon
Fact is investment firms need to stop buying properties one company out of Los Angeles moved to my small California town and bought six homes on my street and they're now sitting empty for over a year
A housing bubble is why I never got worried about corporations buying houses to rent (if that indeed is really true). When the bubble bursts, they’ll be left holding the bag (if it’s true). Back in the 1980s the Japanese were buying properties, but then that bubble burst, and they took a financial bath as a result.
@@litebritegalaxy3217 nothing. They got cheap loans to buy up the houses and then mortgage them as a separate deal. Then have those mortgages packaged up by Fanny/Freddie mac on which they supplied the advice to the fed on which Mortgage Backed Securities to purchase during QE. This is not a bubble.
@@shawncrabtree7000 I just sold my house in Jacksonville made 130k profit.. I can literally rent for cheaper than what it costs for a new mortgage to live in the hood right now. Watching people spend 60k over ask, then another 20% down on top of that to live in a 800 sq ft home to me doesn't make good financial sense.
This is like watching a insane movie, can’t wait to see what happens after this nonsense of paying over the value of a home does after the market goes down 👌🏼
Literally everyone else is ruining it here for us locals in Florida, their making it almost impossible to purchase a home. IF YOU HAVENT LIVED IN FLORIDA FOR MANY YEARS PREVIOUSLY DO NOT COME HERE. There should be a law put in place that you cannot purchase a home in Florida unless you’ve been a resident for over a year.
Making a six figure salary, have very minimal student loans with no other debt, even have wife's income in addition living in Phoenix, Arizona... we can't qualify for a 1 bed 1 bath being sold as-is. What a nightmare we're living in.
I saw my friend sell her termite infested, rotted 60 year old wood home with asbestos siding in St Pete Fl for $380,000. No yard at all, parking in the street, 10 ft from her neighbors houses (also old dumps). If you buy a house in this market,...you're not going to like the outcome.
These artificially low interest rates since 2008Have caused all of these problems. People have been buying houses they really could not afford in a regular market.
Then perhaps the white house needs to change its stance on spending, energy, open borders, fed digital currency, etc. NO ONE has faith in the Federal government anymore.
We need regulation that stops investment firms from buying properties. It's such bs
Did you see 60 mins with Leslie Stahl reporting on this...there was a young couple college educated decent jobs cant afford to buy and rent was well over 2100 per month...the home owner was a company out of Canada. It's just awful.
@@chelll6227 right, I'm fine with apartment complexes and high rises being investment owned, those are tens of million dollar buildings.
But single family homes?!?! Allowing investment firms to purchase single family homes is just disgusting and is unethical, immoral. Late stage capitalism at best.
They are a favorite boogeyman right now. Truth is that it is mom and pop landlords who own 70% of rentals. The business of renting out single family homes for profit is wrong, whether it is done by a corporation or individuals. Around 40% of Americans live in rentals, less than 1% prefer to rent due to being students or traveling professionals. The other 39% have to rent because housing inventory is made artificially low by those with wealth renting out homes for profit.
We could make it that companies after buying up 1000 homes need to build their own rent to own single family homes. That applies to homes, and town houses. Companies can buy infinite condos and apartment buildings to rent or they can build their own new units of single family homes to rent. This would add more units and take pressure off buyers. This also helps mom and pop landlords as most of them probably own less than 20 rentals let alone 1000. It allows many people to become rich landlords while forcing mega firms to actually produce some real value for the economy rather than just extracting wealth from the populous
It’s the hedge funds and believe it or not AIRBNB is going to make homes go up crazy also because if you can make so much more by doing that then renting it’s only going to get worse
LMAO asking a realtors if the market will crash is like asking a politician is she/he’s corrupt
Or a prostitute if she's a virgin.
Haha! Like asking a gambling addict if they’re going to hit a jackpot
I told two realtor friends that I was waiting for the crash to buy my next property. They simultaneously shake their heads and say, "There isn't going to be a crash."
this shouldn't even be allowed to be on television its absurd have an anchor speculate with a real estate agent. Housing supply is about to explode construction has been high despite what the news is saying there building all over and people dont not have lots of disposable income fighting inflation. there is even a possible crisis worse then 2008 (i only said possibly) im betting for a 2008 crash if not close to it
Same here and my realtor friends both made me feel like I don’t know what I’m talking about lol
I wonder if this has anything to do with the fact that corporations are outbidding cash strapped student loan holders and purchasing homes just to rent them out to cash strapped student loan holders??? 🤔
I was renting a nice condo in Oakland. A Chinese all-cash buyer paid the owner 4x what she bought it for, kicked me out, and is holding the unit vacant (so Chinese and US tax authorities don't notice the purchase). It's his piggy bank. Don't underestimate the influence of foreign investors like that on certain US markets. The other two factors are wealthy Boomers who own multiple properties and big investment firms like Blackrock, which is worth $10 trillion and has a massive real estate portfolio.
Can’t feel sorry for cash strapped student loan holders, thats a choice.
@@bobcortez9471 yes let’s not educate our student so they can all come out intelligent like you.
More than one way to enslave people...
People need to wise up, and quit falling into the student loan trap. Devote your life to some school, only to graduate and make 40k..... and saddled with 100K+ in debt. It's stupid.
We need a housing crash, there is no logical justification to have these unreasonable unrealistic housing prices
True. I live in WV. Supposed to be a poor state, housing prices do not reflect that. It’s insane.
@@wvmom2727 I'm in So Cal. Houses are being flipped. This is not uncommon, but some are being flipped with NO upgrades and the new price is about $200k over the sale price just a week earlier. Time will tell to see if they can get the new price. But with minimal inventory, people are desperate.
But what else will homeowners incessantly talk about any time they go outside?
Lol 😂
Can’t wait for the bust and I know it’ll be bigger than ‘08
Brewing????? Affording a home anymore is almost impossible for most folks.
my home was 450k in 2011 at the bottom price when the 2008 crash happened today its going for 1150,000 . it was 1150 before 2022 it took only 10 years to rise 700k
No kidding. The Fed just figured out that we're in a bubble that they created with their low interest rates? That's amazing!
Worst case....that's exactly what I was gonna say. Both u and s.b. are smart!
If housing prices don't fall during the upcoming recession you are going to have a real problem with homelessness
They have really no choice but to fall. Rising interest rates all but guarantee it. The fed is screwed as they have to fight inflation with higher interest but the cost to service the 30T debt goes up billion's.
@@bertblue9683 you know the Federal Reserve can buy houses through a proxy like Blackrock right?
They can make it go up for as long as they want. Our entire economy is rigged.
Well said!
@@bertblue9683 maybe they crash the currency and force us to move to the digital coin instead. Makes us easier to track.
Foreigners will still continue to buy in the United States. Prices will never fall again
You know when the Fed announces a "brewing" bubble, it's already starting to pop, as if they didn't know.
... and it's much worse than they tell you.
@@SoCal9705 Yeah. They're never going to tell you the truth.
They're the ones that created the bubble and they're the ones that are going to pop it by raising interest rates. So their warning is about as prescient as you're going to get.
They definitely don't seem to have any foresight, do they? It was easy to call inflation in mid 2020 all while they were denying it. Then they said it's transitory, then they said it's at 40 year highs. Thanks captain obvious Fed. We are not getting our money's worth from our government.
@@motoz30 Yes, the memory is indelibly etched in our psyche.
“It’s always a great time to buy”
-Any Realtor
Of course! Great for the title companies, real estate lawyers, flippers, home improvement & renovation businesses, real estate developers and any entity that has a vested interest in feeding off of this artificially inflated market!
Real estate experts? You mean like Zillow the same company who overvalued all those homes they bought up
Zillow's failure was based on their A.I. Don't mistake it for overall market behavior.
@@SuicidalBabyTTV All A.I. has programmers behind it who write the code and various managers who write the specifications and requirements, so blindly blaming it on "AI' is stupid. "AI' isnt something magical. So Carl is right why would anyone trust Zillow who who totally screwed up.
I have invested in stocks and have 6 figure job, no debt good credit and I can't buy a house. This is ridiculous and I feel for the people barely making ends meet wishing to buy someday. It's sad as hell.
Put your money, somewhere safe. probably gold- NOT a BANK! With a housing bubble, now is, NOT the time to buy!
What’s sad is knowing this IS on purpose, called the wealth effect. People with stocks, bonds and homes feel rich because currency inflation causes price inflation, and when you own what’s inflated in price you think you’re wealthy. But you are not, these are nominal values - not real. Try a few pod casts by Peter Schiff, Lynette Zang, Mike Malloney, or Rebel Wisdom, maneco64, I love prosperity, or read The Road to Surfdom, The Everything Bubble, The Real Market Crash and how to prepare. Good luck and stay safe
@@kanscopeichel491 Thats a good reply, trouble is, people only look at the shiny side of the coin, never the dull side.
Why not ? Lol yes you can. What are you talking about
@@xfhnhhgjbvcfg he probably doesn't want to spend 40-50 percent of his take home pay on a mortgage.
We already knew that. When you had the rich buying up home well above asking price. Economist have said for YEARS there is no affordable housing. Combined with stagnant wages in all sectors. Of course there's a housing issue
you will own nothing and be happy... the great reset.
Conspiracies are all turning out to be true, they're just being censored.
The rich are doing that because they are forcasting the dollar to be completely worthless before the next election.
blackrock, larry fink
the housing market is on purpose brought to you by the government.
know your enemy
Umm..last time it was a banking issue and it's still a banking issue... they've made loans on homes that are 25% overvalued this time around. Homes don't just go up 35% in 14 months. 🤔
They do though. If folks are will the pay it, that’s the new market value. Supply and demand.
Mine sure did 🤷🏾♀️.
14 months, USA is crazy!
Definitely a banking issue.. I was accepted a loan before covid 19 bs for 425k by myself and now I’m being accepted for 520k even tho I still have the same pay at my job and 12k more in debt from last time (car for family member) so idk.. I think I’m not the only one either, there’s people out there buying houses they really can’t afford and I think it’s a matter of time for things to go south. I’ll buy a house once I see the outcome. Which I’m sure is it’ll be a crash even though people are denying it.. I know people who have bought a home they can’t afford and already struggling
Yeah, that's what they said in 2020 at the beginning of the pandemic. Didn't happen. I had been poised to try to buy my first home, but prices rose instead of lowering. Even if it actually bursts this time, I've given up. At this late point in my life, it's actually cheaper to keep on paying rent for the rest of my life than it is to buy something. The real estate industry is greedy and despicable. Homes should be for living in, not for making a financial killing off of.
Its not cheaper to pay rent. You are paying for the owners mortgage, taxes, insurance, tax deductions and equity in the property you rent. You also lose out on the increase of the property's value which was 28% over the last 2 years. If you had a $150,000 house the last two years you lost $42,000. Renter's lose $100's of thousands of dollars in the long run. My guess is if you rent from 25 to 55 years old, you will lose $400,000 in equity. That's the reality.
@@obijuan3004 yeah, it’s more expensive to rent in the long run. I’m waiting for the next bubble to buy again since my first home was too small. We’ve outgrown it but right now the market is too successful.
They can see it coming, they know what causes it and when it happens the first thing they say is, "Nobody could see this coming."
First time buyer here.. My realtor in central Wisconsin exact words: "If you were my kids, I'd tell you to wait."
They are ignoring the elephant in the room. This time around, hedge funds, mutual funds and other such investments are able to include hard assets in their portfolios. This means that residential buyers are competing with the likes of Black rock, Vanguard and Fidelity for each home as it becomes available. Well, unless the laws change back, these companies will hang onto their properties whether market tanks or the market spikes. So, there won’t be any sell offs. Inventory will remain very very tight this was not the case in 2008. And, as far as people going above their means to buy a house, just what do you think it means for the country when people are paying two and three times more for a simple three-bedroom home then they would have paid for years ago?
Most local media is now owned by Sinclair Media. They have a vested interest to protect their sponsors. Thats why they didnt mention it and why outlets like CNBC, CNN and Fox never look at the root cause of problems, rather the symptoms. If anything those sponsors want a crash so they can buy up all the real estate at very cheap prices and put them on the market for rent.
It's a double edged ⚔️, on one side people are getting prices out but on the other side we all have investments with Black Rock, so it makes us money what they are doing...🤔🍦
@@mojavedesertsonorandesert9531 The vast majority of the people trying to buy their first home do not get that much out of Blackrock stuffing their funds with hard assets. Most of these are young people trying to start a family or just generally getting their start in life. Some of them are single parents trying to get out of the apartments. You know, the sort of people that have to scrape up money for the down payment, stress and sweat over what state their credit is in because they want to get a loan from the bank for the house and agonize whether or not they should go through with it because the interest rates are rising and, suddenly, the monthly mortgagepayment for the exorbitant amount they’re about to pay for the house is now over their budget. It’s usually the people who come to the table with hundreds of thousands of dollars in cash to engage in bidding wars driving home prices sky high that are also making money from Black rock. They are the only ones for whom this is a double edge sword. For everyone else, you’re getting screwed over twice. Rising prices of everything are making it so that you can’t save as much toward your retirement plan where you would benefit from these funds and, you’re being priced out of houses while, at the same time, landlords are hiking rents up. If something isn’t done to ameliorate the situation, I firmly believe that the American dream is effectively dead.
Another "things are different this time speech" . It's preceded every housing crash since the late 80's.
Vanguard and Fidelity don't buy homes. They invest in ETF's and REIT companies that buy property of all kinds, commercial and residential. Black Rock doesn't buy homes they invest in a company that does real estate investments. That company, Invitation Homes, bought up homes in 2012 because they were cheap and empty. Investors have always made up around 10% of the housing market, I know I was once an investor. Now that has climbed to about 20%, but its not Black Rock as much as its the people who used to own strip malls are now buying homes. The reality is that nation wide we are about 4 million homes short of pre-2008 production. Sales of new homes has slowed because the new home builders have sold about all that they can for 2022. New home buyers are waiting 12 to 14 months for their homes to be built, the rest are on waiting lists just to purchase a home. Builders can't sell 2023's future homes because they don't know how much it will cost to build them. So it looks like new home sales are down, but not really. Its like saying concert ticket sales are down after the concert has sold out, but people are waiting in line for the new concert. I sold my rental property in the 2006 bubble and bought more in 2009 when everyone was in a panic. I sold it all in 2018 and 2019 because I thought the prices had peaked and I was tired of dealing with dysfunctional renters. Investment firms are not really driving up the price, you can't drive up the price if no one is buying. They are taking advantage of the current demand. Its really a lack of homes that is driving up the prices... SUPPLY AND DEMAND, rules it all. If there is no demand for homes, there will be few investors of any kind.
I remember the 2008 crash all too well. Realtors were insisting right up to the start of the crash that the boom would go on forever.
Wow! The Fed actually woke up... about 2 years too late.
Nah, they are still 😴 💤 asleep lol
They aren’t asleep, that’s what they want you to believe
This is the Fed’s evil plan (not sure why though 🤔)
They were awake for last two years. Thats why there was a narrative, and money printing exercise, since beginning of 2020.
@@Luis-ef2zn that's an old civil war Era tactic to be asleep and make people think you aren't asleep until enough people defend, or pretend your slumber ain't happening. Result: Deeeep Sleeepies
You know it’s about to pop when they finally announce a “bubble” is stirring.
Yes, and they have to get ahead of the story to minimize their own culpability.
@@elizabethblane201 BINGO!
Common sense said this to many people months ago. Buyers ignored it. Now, the Federal Reserve is saying it and people will ignore it. Then, it will burst and buyers will be under water asking "wHeRe'S *MY* bAiLoUt?!"
Higher taxes come with higher home values. How many people will be losing their homes to the tax lady?
they're not thinking about that because of... FOMO!
@frost ice banks don't care as long as they get their money.
The Fed released way too much stimulus over the past years which in turn with low interest rates sent home values parabolic in turn caused property evaluations to increase which triggered higher property tax and higher home owner insurance
We're heading right down the same path we were in 2008. Houses are WAY over valued, people are going to jump right into a 700K house that's actually only worth about 400K.
I can't wait for the 400k to be worth 150k lol
This is nothing like 2008.
I’m seeing that in mt neighborhood. Unfortunately my tax assessor doesn’t care and my taxes reflect that.
It depends what people do. If they are buying a house to flip in a couple years you are correct. If they are buying it as a place to live the next decade or so they will do Ok. If they stay 20 years they will do very well.
I'll be happy with a 200k
Wages have not kept up with the crazy housing price increases. This market is not sustainable.
My Friend is buying a new home from Lennar. Their mortgage Co is approving for a ratio of 59% monthly mortgage payment with escrow to income. The recent rate hikes are causing him to be denied a mortgage. Moral of the story is YES, they are putting people in homes they can no longer afford.
And the shorting has begun!!
59% is insane. 2007 crash coming soon.
Ya but what proof do you have that this will cause a crash? It's not like this has happened before.
People shouldn't be buying these poorly constructed, overpriced cookie cutter homes from Toll Bros., Lennar, Pulte, etc.
"People extending themselves beyond their means..." i.e., middle class living off the fumes of credit.
They never even mentioned that what caused the last bubble bust was all the foreclosures that came on the market at once, that could definitely happen again, with what people are paying for homes!
I've been trying to buy in Tampa FL last 3-4 weeks.. everything is soooooo over priced it's insane. I'm literally watching people spend 360k on an 800 sq ft to live in the hood lol, no thanks. These people are paying 40-50k extra just to get the price back what the bank says is the true value.. then another 20% on the home itself for the down payment.. I'm sure this is sustainable lol
@@bettysmith4527 , this housing crisis is really a different kind of beast.
@@thatoneguy94512, it sounds like you are a first time traditional home buyer pushed out of the market per the pricing and forced to rent until there is a cracking in the universe that will allow you inside. I agree, this is not sustainable and yet it is going to get a hell of a lot worse before we see daylight, even if it is only gray daylight. Should you purchase in a HOA community be aware, even if the mortgage is paid on time but the HOA fees are not, a HOA can foreclose and HOA fees are increasing.
@@blakejohnson3864 that's like in seminal heights in the hood 400k, roughly 800 sq ft.. you don't want to live there trust me
Wait you're telling me people aren't extending themselves beyond their means at this time. 🤔
Expert: "This time is different" When the bubble bursts: " Nobody saw that coming!"
I live in Michigan and I'm seeing houses owned by older people who think it's worth $150,000 to $250,000 but everything in the house from the carpets to the appliances is over 50 years old. These people really seem to think they deserve a couple hundred thousand dollars for a house that they've done absolutely nothing but live in and mess up for the last several decades. I'm talking shag carpet, smoke stained walls, appliances as old as my grandma, flooring that's trashed, etc. And these people think they deserve a couple hundred thousand because the house "has potential". No you put the work in or you don't get the big bucks!!
Boomers, typical boomers
@@sapher2020 Wrong again. I'm a boomer, me and all of my friends are rich. I have had rental homes for 20 years. I just renovated all of them and sold them in 2018 and 2019, and then used that money to make over 30% in the stock market the last 2 years. Lazy people are lazy people, but don't generalize people you'll always be wrong.
There is a big market for investors to take old houses at $150k and turn them into $300k houses. Lots of those investors are Boomers who have money...LOL you don't know anything.
@@obijuan3004 You take starter homes a young family could only afford and flip them into homes they can't afford for an investment. New paint, cheapest laminate flooring, hide the big defects best that you can and double your profit. Investors are modern day locusts and your hurting the younger generations with your greed.
THIS IS LITERALLY HAPPENING IN AUSTIN !!!! It makes me so MAD 😡
@@obijuan3004 so basically you're the lazy person who made money off of zero work this whole time. You're literally a disgusting leech on society. You should be ashamed of yourself.
A real estate agent isnt a real estate expert. They are used car salesmen.
Middle man! You don’t need an agent!
The Federal Reserve inflated home prices by keeping interest rates low. Now they warn us that there is a bubble. Thanks, Fed.
You must not know how the Fed works and how the economy at a whole works
At the end of the day, it's those stupid buyers biting and banks take advantage.
As a consequence of the Feds actions homeowners are being taxed a on their property at a higher rate for unrealized profits
Surely you mean "screw you FED" ! 🖕
It’s not just the interest rates. It’s the devaluation of the dollar. It’s supply and demand. It’s fear and uncertainty causing everyone to stay put, as they cannot find a home if they sell. It’s rate hikes, where most people have a very low rate, so why would people sell, and buy at a higher rate. It’s quite a few things combined driving higher prices, and that’s why we’ve never seen anything like it.
I was going through zillow yesterday looking at houses nationwide. Every house listing I clicked on was a house that was purchased in the last month and put back on the market 80 to 100k more than what "they" bought it for.
Here in southeast Fl. houses purchased in 2020 are back on market for 100% appreciation.
EVERYONE : No one can afford to buy !
REALTOR: 'yeah that's fine' ....
@@blakejohnson3864 then they will turn around and complain nobody is having kids, or nobody is going to Disneyland or whatever.
@@cosmicllama6910 no one wants to go to Disneyland anymore 🤣🤣
@@libtardwhispererllc1272 my old boss stole money from the company just to take her family every year.
I'm 37 & reside in CA and I feel like the only thing I'll be able to afford to buy is a used 10 year old car! 😡😫
At least the car dealer will be better than a Bank/Mortgage comp/Insurance or shareholder!
Time for a revolution my friend.
@@johnchristmas7522 right! Sheesh
People were extended beyond their means - because we have to blame the working class for loan fraud they participated in by being defrauded. 🙄
People are obviously less happy than previous generations, the standard of living has declined MASSIVELY, paying half a million dollars to basically live in a shoebox. This is what happens when your government spends your tax dollars where they don't belong, taking care of countries they have no business in, not making US citizens top priority. Then they'll complain when future generations stop having kids because they simply can't afford anymore, why Disneyland will shut down cause no one goes there anymore, why homelessness hits an all time high, cause people can't even afford to live off $100k a year and why businesses shut down because people simply refuse to work anymore because they refuse to be slaved any longer. A change has to and It will come. But at what cost?
Federal Reserve has nerve to be talking about bubbles, They need to be talking about the dollar bubble.
"It's not a bubble because house prices are higher than ever." - 'real estate analyst'
I hope these people are made to repent for their sins.
nope, the government will bail out these idiot home buyers because they're "systemic risk" or "too big too fail"... it's a joke and we're all paying for it.
They had better do it quickly before the crash and the torch/pitchfork parades get started
Folks forget about about a time when having a cake fork would get you killed by the hungry mob
It is the investers that are really hurting the homebuyers. Maybe they need to find some way to regulate these corporations who will go out and buy up every home they can for rental investments.
Yes and no. It's really the Central Bank monetary policy. Fiat backed by nothing and printed to the moon.
Investors are not immune to the market swings. When the SHTF, they will be short selling with both fists to get out of their obligations.
Isn’t that just capitalism and free market?
Covid19 is the best thing that ever happened for realtors. People didn't want to sell their house because they didn't want to hassle during the lock down; less inventory. People were told they didn't have to go to the office, so they bought in places like Lake Tahoe. Fed wanted to keep the economy stimulated, so they kept rates super low. It was the perfect storm. Just like all storms, it will end. This is going to end bad; no rainbows.
😢
You couldn’t say it better . I laugh at these people I bought my house for 800 2019 and sold 1.5 million 2021 makes no sense and the pain that’s comming I can’t wait 😝
@@therealmac1044 when would be a good time to buy? When everything crashes?
@@therealmac1044 you obviosuly profited yet you laugh at the pain that you feel is coming?
@@sobeliever1638 yes because people are stupid and think that this is gona last forever . Also I’ve felt the pain in 2009 lost my house . You live and you learn .
It’s been the same way here in Clarksville, TN. We’ve been experiencing a population boom. We purchased a new construction home in December 2019, and that same floor plan NOW sells for between $85,000 to $100,000 MORE than it did back then.
Great just buy and hold to next generation
2008 was a banking failure for sure but instead of helping the victims, the 2009 near-$1Trillion bailout rewarded the banks' failed policies with instant, feel-good, walk-around $ followed by 7 years of near-zero prime interest rate. There is a lot more going on in the housing market this time around, including a demand greater than supply and an older vs. newer supply of housing. There is still value available in the current market along with a lot of polished and flipped turds.
Nothing helps those who needs it
When prices become to high to be affordable, they will sit empty.
It doesn't matter if they sit empty. The asset has already been acquired.
@@SuicidalBabyTTV if the asset isn’t making you money is it an asset or liability?
If the government has the balls. They could just have some perpetual forbearance.
Sellers always turn them to rent with the current 5m housing shortage LOL rent is the only one prices never went down. You gotta love your cash flows haha
The market value will calibrate itself thus houses will not sit empty.
Radical. Getting to see this twice in the span of a little over 10 years means I'm just an entitled millennial
I just had to move away from Florida because the rent doubled.
I'm in the Atlanta metro area, and you can clearly see homes are priced $100-200k more than what they are really worth. 1-2 days after going on market, already under contract. I can wait. I'm not in a hurry. Can't keep going up like this. Interest rates already knocking at 5%
Atlanta is turning into Los Angeles. Prices will continue to grow because the entertainment industry as well as low corporate taxes are here. Atlanta metro is purported to grow to 10 million within the next 10 years. All those people have got to have a place to live.
Knocking 0.5%. They're only raising a quarter point at a time
@@boondockpaint it doesn't snow here in los Angeles. It's not the same I know someone coming back because the weather but I do agree with you it's just going to go up just like LA
@@mimicmage I agree. I was just in LA for Christmas. It was not hot, but wasn't that cold either. I've been there a few times. Since the pandemic it's just not the same.
@@boondockpaint the cost of living in LA is too high they want to fix it by raising the minimum wage 😶 ... But yeah people used to the weather here will cry where it snows.
Realtors: Now is the best time ever to get a house, prices can only go up.
Buyers: ThErE's No EviDenCe SupPorTinG a HouSing BuBBlE or CRaSh. ThErE's A sUpPlY aNd DeMAnD ImBaLanCe.
The Fed: There's signs of a housing bubble brewing.
Investors: We're going to buy everything causing the imbalance and right before it crashes, we're going to sell off to these suckers and leave them holding the bag.
If you can't see that people are extending themselves beyond what they can afford then you have no clue what you're talking about. A pos home by my house just went up for sale. It closed in a week for 430,000. The last time it sold it was 85,000. There's no way it will keep going at this rate. Those buyers are going to be so upside down in a mortgage for a home not worth a quarter of what they bought it for. It's disturbing.
good. I'm hoping the depression will be very deep and severe. Hopefully the bubble pops so badly and the banks go bankrupt
Isn’t that the “speech” they gave us back in 2007 before Florida was the second hardest hit state? “Equity” in your home is a variable that goes down much quicker than it goes up in markets like these. I see alot of zombie houses in our future because people will be too far under water in their houses. They will simply default and walk away due to over paying for their homes in the first place.
Exactly my sentiments. We’re close to a recession, they keep trying to sugarcoat it, but if there’s a recession, and there’s millions of new homeowners, lots are bound to lose their job. Losing their income. Many overspent all their money into homes now.
That’s what happened to me in Hartford, CT. My home was over priced and I didn’t realize it, and as a un-protected teacher (no union), my job was barely paying a living wage, and then they fired us all and re-hired some of us, and restructured our pay (pay cuts). I lost my home in 2008. I had to walk away because the house was upside down.
Printing 7 trillion dollars by the Federal Reserve is big part of the problem, not all but a big part. Reduce the money supply will help.
This pandemic has showed how unlimited the feds power is
@@devoncarter5580 yes sir you got that right. Also it was Trump,Biden and Congress that ask for the 7 trillion.
@@dannypowers4995 right it’s so funny to hear trump supporters or Biden supporters blame each other for the massive amounts of inflation were experiencing
@@dannypowers4995 hopefully our French Revolution is right around the corner
They need to print me some of that money
Higher home price, higher property tax, go figure, bet they wouldn't tell you that either
I think you hit the nail on the head
I grew up in Florida and left for the military in 2014. Came back recently and I am so sad to see what is happening to the locals when it comes to housing prices and rent. Me and my wife bought a house pre-pandemic for 300k when I was in the military (In Maryland, one of the most expensive places before the pandemic). New build, 3 floors, and almost 2000 sq ft in a decent neighborhood. We sold it for 340k a few years later. I told my wife to compare that 300k house with what we are seeing in Tampa right now (where 300k used to get you a mini-mansion). 300k gets you mold, holes in the wall, and shootouts down the street. I told her that sums up what a housing bubble is. This can't last and it's going to be a cluster when it bursts. We are sitting tight until that happens. I want to feel bad for the people that came down from wherever and paid 200k extra on a house because they wanted more "space", but I am all out of sympathy at this point.
🤣😂 delusional morons. You don’t know the market at all. You are in the military’s you aren’t a genius or smart… you bums wish the market in america would crash. Bum mentality
No one cares you're in the military FYI
@@SzymczykProductions Who hurt you lol?
@@deusbeowulf6039 is probably an “I was gunna join but then....” guy
@Deus Beowulf try owner financing, some owners don’t want a lump sum of cash, just make sure to close with a real estate attorney.
What most people dont realize is the reason that there is an inventory shortage currently. Home builders got burned in '08 and since then have been building "risk off" only building enough to meet "certain demand" - the home ahortage problem will only get worse and those sitting on the sidelines waiting for a "crash" will only be didmayed when home prices level off briefly and then continue higher....
I hope you’re wrong because I’m one of those sitting on the sidelines waiting for another 2008 😂 it was a great opportunity to buy my first home but I messed up because 840sq ft wasn’t big enough long term, so I let it go a few years ago.
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You can blame higher rent prices too rising property taxes.
It's not an actual housing bubble like we had years ago when they were giving away mortgages for $300,000 to people flipping burgers. Today they have to qualify. And if the interest rate is low enough, the housing price will be higher. When mortgage rates increase the housing prices will come down. But the people who purchased the house at a higher price with a fixed interest rate it's not at risk of losing their house like they did years ago with no doc loans and a three-year arm
Investors will dump properties like never before as Wall Street is on fire! I hope home buyers are patient for a remarkable housing crash
Yeah 😎, but there has to be buyers! At these rates?
investors dont have to sell. simply rent to pay the very cheap, fixed rate mortgage they got when they picked up the house.
@@DJ_Patent these interest rates aren't outrageous. They are just above "rock bottom" like they were a few months ago.
5% is not 8.3%
Waiting for Naples, Florida to correct. As a disabled veteran, I don't ever pay property tax!
Investors have no reason to dump their real estate stable when they are paying their CEOs managing their properties bonuses in the millions of dollars per the profit of their investments.
Reside in SW Florida and just a few months ago, a house any house actually would be pending in 24 hours. Now the homes are sitting at a week or longer this is all homes in all pricing.
Definitely seeing a huge decline I'm getting email alerts now with the house you saved was dropped by 80 k.
We don't have to rush into buying anything. Pass by until it's right
UNITED STATES HOMELESS OF AMERICA
Federal Reserve, which is responsible for the housing hyperbubble (as well as many other asset hyperbubbles), warns of housing bubble. lol
"More equity" the value of my home was inflated by cash from off shore buyers ... fresh winnings at the foreign stock markets. I can't use the equity unless I sell or refinance.
Yeah, but you'll SEE that inflated equity when the property tax assessor sends your bill! /ymmv
@@TheSGBrown Some are looking at $1,000 a month just in tax. No mortgage, completely paid off and a $1,000 a month
If the Fed wants, it gets. These guys have never heard " dont fight the Fed"
The Fed Doesn't get Rejected. The Fed doesn't get served, it is the one who serves.
Yeah just like in 2008. The fed lost.
@@bullettethebulldiva4875 The Fed doesn't lose anything. It has proven that it can create bull markets and destroy them. The destruction of the bull market in 2008 happened after several Fed rate hikes. Their recent financial experiment has proven they have the power to easily create massive bull markets too.
@@bullettethebulldiva4875 no it didn't.. the US tax payers did, we took on those losses, the Fed didn't (and no the Fed isn't a part of the government).
This market is going to drop like a box of rocks.
If Jesus was alive today he probably would use that exact metaphor to summarise the truth hidden in this video
"Crash like a box of ROCKS"
"Oh no the bubble we mean we this time is more like a soft landing, now is a great time to purchase before the standard of normalcy returns. We see no indication of any problems or concerns just an adjustment...." Sounds like another "realty expert analyst."
If everyone is well qualified or paying all cash in areas like CO or TX and there's far less supply than demand, how exactly do you figure there will be a crash?
@@rickj1983 People that finance that 600k home will walk away when the value drops 400k or lower just like they did in 2008.
@@rickj1983 1. Fed tightens 2. Economy slows down 3. Recession starts 4. Companies lay off 10% of workers 5. Those workers start defaulting 6. Foreclosures and short sales begin 7. Prices drop - Only 25% of purchases were cash; 75% have mortgages.
@Sunrise I take you don't know much about interest rates pricing people out of homes, when people can't buy homes based on payments. Inventory will increase an the price will drop.
@Sunrise When people can't buy home do to not meeting requirements. We will base this on 600k mortgage 15% down 3.708% taxs/fees payment is $3256.00
now at 5.708% the payment will be $3869.00
Not many people can afford the extra 615 mouth payments. This is what happened in the 90's to the home market.
Sure. No crash. Please ignore inflation eating into budgets, mortgage rates shooting up and the huge number of newly built homes coming onto the market.
they're dellusional... incomes haven't kept pace with everyday inflation, then factor in increased property taxes and cost of ownership... millions of people will start slipping on payments.
The fed should know they blew the bubble.
Well duh, because the Fed created the housing bubble. 0% interest rates and trillions of mortgage bond purchases will do that. The Fed should have normalized monetary policy once they realized they were creating a bubble (around Summer 2020).
I agree on whit what you said based on how the inflation goes the average American instead of buying Apple products, should be concerned about investing in cryptocurrencies in this way his saving would be saved if this bubble burst! Buying a house on a property in the US was never ever a good option in America first because if you own a house or property, it would simply eat you because of these taxes, and your income goes by, because of the apple products the Americans so fiercely buying, because of the inflation which is increasing the taxes too, and the mortgage.
A bubble requires a supply glut, there isn't one. The cheap loans went to large corps that can pay them back. This is just not true.
Why do you people always blame the fed? It's as if the artificially low supply of homes and mass hysteria on the part of consumers to buy homes in a insanely competitive market just doesn't exist. The fed lowered rates so that the housing market at the start of the pandemic didn't implode instantly. The rest is all on consumers carrying out a self-fulfilling prophecy and state governments that have 0 incentive to make new homes.
@@blarpusbundersnatch9431
Because this was a Fed created bubble. Well, that and Covid spending largesse. The Fed should have normalized rates and stopped buying mortgage bonds in the summer of 2020 once they realized they were blowing a bubble. They waited 2 years too long. Normalization of mortgage rates and loss of loan liquidity gonna crush prices. Watch….
@@jeffreymarshall4572 Yeah, that's why the covid spending happened 2 years ago and inflation is just now ramping up? Money supply has little to do with inflation when employers and businesses are artificially restricting supply to jack prices. Businesses got loads of PPP money and then turned around to opportunistically drive media narratives that made idiots like you think that inflation wasn't their own invention. Stop being a corporate cuck and lazily relying on conservative boogeymen that haven't been real for 40 years now.
What a confusing line, please don’t call “affordability crisis” a bubble
Nobody can afford these bs home prices, let it burst and wipe everyone out!!
I purchased my first house this year and I swear I’m never going to sell it just so I can keep it out of the hands of large companies.
Youre right it wont be the same, its always something different but it will effect prices on almost every commodity including real estate not to mention commercial real estate is non existent in my area
The Federal Reserve (and the commerical banks) can print money and buy any asset they want (stocks, houses, anything)... that's why we're living in the EVERYTHING BUBBLE.
When it pops, i hope these bankers are going to pay for their sins.
Why isn't the federal government putting a cap on these big companies buying residential properties in bulk and creating an artificial rise in the prices, the government needs to do something about this otherwise for an average American the thought of owning a house will remain a dream
Free market economy
Of course they are not talking about all the debt these people have taken on. Equity is not yours until you sell!!
That does not matter when equity is still yours.
No crash just an affordability crisis - he says
The realtor says no crash
The realtor the realtor the realtor - -
This realtors comments about equity are ridiculous.... people had equity in 2008 also as long as values kept going up..... then one month the values started going down and there goes the equity
EXACTLY!!
It all comes down to three things: location- is the house in a desirable location, inventory - is there more demand than supply, demand - are there more buyers moving into the area than moving out?
I wish. Corporations are buying up homes well above market value, thus pricing and taxing locals out of homes. Building to rent is out of control, too. Netherlands has a law restricting corporate purchases of homes. Maybe the US should take like action.
it comes down to ONE THING... is the money (e.g. credit) available to overpay.
@@buyerbware25 BLACK ROCK
@@libtardwhispererllc1272 BlackRock has 9 trillion assets to invest.
This current market is so complex and hard to predict right now with record numbers of "All cash" buyers and lack of inventory being the main factors but everybody said there'd be a crash last year when all the unemployment checks dried up and moratoriums expired so who knows anymore
Many people are not paying rent to the landlords --- and the govt likes it that way. Eventually, the landlords of single family homes/small units and apartment buildings - will to foreclosure. Then the hedge funds, Wall Street - and the Rich & Famous, swoop in and buy up all the foreclosures - like they did in 2008-10. They will then rent out all these homes - so single people and families won't have a chance to be homeowners. A country full of Renters!!!!
Exactly. I see many myopic opinions being thrown around; but one has to understand more the totality of the economic situation to have a chance to prepare. And even still, the best investors are diversifying carefully due to the number of variables.
Anyone not living in CA has zero idea what it’s like here. It’s literally rich people and poor people. No inbetween. Middle class is wiped out and that’s coming to a state near you.
As for me, I'm done with Florida. It's just not worth it. Everything is too expensive, too crowded ,and crime is out of control. As more people move in they are rude, selfish, and arrogant. As a native Floridian, Florida today has little resemblance of the state I once called home.
Same is happening in TN and it stinks! Our region of East East TN is unrecognizable
Sounds a lot like Cali lol
Sounds like my Texas
This country is changing! 😫😫😫😡😡😡
@@lazerbubbles3630 the United States is becoming a SHEETHOLE compliments of the lunatic left propaganda machine and the MSM RINOS
When people loss half the value of their home they will walk away from that money 💰 pit just like in 2008!
and the tax payers will bail them out, just like in 2008... just watch.
@@stachowi Tax payers bail-outed the banks not the people! Most of the people had mortgage Insurance and that Insurance couldn't cover all the policies that hit the companies all at once.
@Worst Case Scenario I paid mortgage insurance from 1993 till 2007! In 2007 I refinance at 75k and my homes value was 280k and pickup a rental for 25k in 2008. You have to remember in 2004 to 2007 everyone was refinancing and take spending money out to buy cars, build their business, using the home as a bank.
Asking a Realtor if it's a good time to buy a house is a joke. What else is the Realtor going to say but "yes "
I'm selling. Will pocket $300k in just under 5 years. Gonna use that to buy mult. homes in next 3-5 years when the levy breaks, and it will. This appreciation is unsustainable and people are over extending. Any change to jobs will kill demand. Doesn't matter how many homes short we are if nobody can afford them, and on a macro level it's not houses being built it's apartment buildings everywhere you look. Everything is a cycle no matter how many reasons people can come up with why this time is different.
The misses and I make 150k a year, never in my life did I think I couldn't get a home in Rhode Island...
People extending themselves beyond their means....... I'm just here to watch it all crash and burn.
Hopefully this time capitalism finally dies and bourgeois society disintegrates into chaos. It's time for a higher and better economic system where the class system is abolished.
“Banking industry failure”… because people were walking away from their mortgage payments. The younger generation can’t stand being -stagnant-. When they try to sell their homes for $150-$200k over what they’re actually worth, and people aren’t buying, that just might cause people to simply walk away. Give it five years👌
That's what older people are doing. Not what younger people are doing. Old people are the ones that think their house that they haven't updated in 40 years is worth $250,000 even though it needs $50,000-$100,000 worth of work needed.
Well, no house 40 years old is worth more than when it was built. It’s the land that holds the value
They want 700k- 1 million dollars for a 3 bedroom house in mass. Absolute joke.
We have millions people coming here unlawfully who can only pay rent. This overwhelms that home rental market and drives up the price of housing because home buyers now compete with rental home investors for single family homes. Citizens living on the street while people here unlawfully get government assistance.
Oh, I see what you're saying, it's not the fault of the Fed for injecting trillions at zero interest into the economy and driving up asset prices, it's the fault of the 'brown people."
Finally all realized there is a housing bubble in US and China. When will other pandemic theatre countries accept there is housing bubble, Canada, Australia, Newzealand, UK.
In the UK its different, because there are never enough homes to buy or rent. There is a real shortage of homes and thats the reason for their cost not a bubble.
@@johnchristmas7522 When the govt artificially create a shortage by imposing evictions ban, as well as mortgage forbearance under the pretext of support for pandemic affected population, and to top it all offer free money (stimulus package) for people to remain in houses people cant afford with their income, to control the number of houses coming on market for foreclosures, an artificial sense of high demand, and less supply is created.
@@rkt81 Thats unusual for America, to try to help! From where I sit, It just shows me that Americans are vastly underpaid by the conglomerates. I watched a programme on tv last night, about shortage of truck drivers in America. I couldn't believe the actual criminal abuse of the drivers by their companies. They employ them on the basis as a contractor only, even though the companies logo is all over the truck plus they have to wear the company uniform(which they have to pay for). That makes the driver liable for everything, inc servicing, any damage to persons or buildings. Pay the by the hour, no holiday pay, force them to drive when its dangerous to do so. Then they coerce them into buying the company truck etc etc No wonder people need help. As we all say abroad, America isn't a country its a business.
@@johnchristmas7522 In US its all about business for ones having access to fiat currency, and humans are assets till they have a productive life, then they are thrown on streets making them homeless, and drug addicts.
@@rkt81 Now I know why they say. "America is not a country, its a Business"! The GREED of ALL companies, is why people cannot by homes or anything else for that matter.
Come on America, make government make changes-soon
No housing expert will ever be honest about a market crash lmao never bet against fed your gonna get wrecked lol
Fact is investment firms need to stop buying properties one company out of Los Angeles moved to my small California town and bought six homes on my street and they're now sitting empty for over a year
A 30% drop just brings us back to 2019 prices 😂 50% drop take sis to 2015 prices 😂
A housing bubble is why I never got worried about corporations buying houses to rent (if that indeed is really true). When the bubble bursts, they’ll be left holding the bag (if it’s true). Back in the 1980s the Japanese were buying properties, but then that bubble burst, and they took a financial bath as a result.
Financial bath? What does that mean for black rock?
@@litebritegalaxy3217 nothing. They got cheap loans to buy up the houses and then mortgage them as a separate deal. Then have those mortgages packaged up by Fanny/Freddie mac on which they supplied the advice to the fed on which Mortgage Backed Securities to purchase during QE.
This is not a bubble.
You think you are smarter than Blackrock and Vanguard LOL funny. Just watch what's gonna happen if you don't own anything by now LOL
@@shawncrabtree7000 I just sold my house in Jacksonville made 130k profit.. I can literally rent for cheaper than what it costs for a new mortgage to live in the hood right now. Watching people spend 60k over ask, then another 20% down on top of that to live in a 800 sq ft home to me doesn't make good financial sense.
This is not a housing bubble, this really is a different kind of beast.
This is like watching a insane movie, can’t wait to see what happens after this nonsense of paying over the value of a home does after the market goes down 👌🏼
I learned of "bubbles" in the PBS documentary "Mind Over Money."
Literally everyone else is ruining it here for us locals in Florida, their making it almost impossible to purchase a home. IF YOU HAVENT LIVED IN FLORIDA FOR MANY YEARS PREVIOUSLY DO NOT COME HERE. There should be a law put in place that you cannot purchase a home in Florida unless you’ve been a resident for over a year.
Are you serious?
Making a six figure salary, have very minimal student loans with no other debt, even have wife's income in addition living in Phoenix, Arizona... we can't qualify for a 1 bed 1 bath being sold as-is. What a nightmare we're living in.
Sounds like you have bad credit
What’s the price point you’re wanting to qualify? It’s not adding up, if you’re making 6 figure with min debt
@@specialagentorange4329 Nope good credit. Have not been working at my current job for 2+ years that is off commission is the biggest issue.
Trusting a realtor to warn about a housing market bubble is like trusting will Smith to not slap you for a Jada Smith joke
I saw my friend sell her termite infested, rotted 60 year old wood home with asbestos siding in St Pete Fl for $380,000. No yard at all, parking in the street, 10 ft from her neighbors houses (also old dumps). If you buy a house in this market,...you're not going to like the outcome.
These artificially low interest rates since 2008Have caused all of these problems. People have been buying houses they really could not afford in a regular market.
Then perhaps the white house needs to change its stance on spending, energy, open borders, fed digital currency, etc. NO ONE has faith in the Federal government anymore.