We are dealing with 'a very savagely unhealthy' housing market, says HousingWire's Logan Mohtashami
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- čas přidán 27. 08. 2024
- Logan Mohtashami, HousingWire lead analyst, joins 'Squawk Box' to discuss skyrocketing mortgage rates, after the National Association of Realtors warned rates could hit 8% if the economy continues to show strength and the Fed hikes rates again, the impact on the housing industry, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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As long as this country thinks of housing primarily as investments and not homes the more screwed up everything will get. the more vicious the cycles of booms and busts will be. We literally build luxery stuff meant to stay empty as places to park cash versus affordable homes. It beyond ridiculous.
Late-stage capitalism
It's not that. Upzoning to increase supply can make their homes more expensive, yet that is one of the things that can help woth the housing crisis. No, homeowners feel entitled to keep poorer people away, entitled to the low population density life and fear extra traffic, so they oppose the supply of demand. A housing crisis ensued.
@@civichx24 Yeah because in the Soviet Union it was so much better. We all had mansions, Mercedes. 🙄
@@AS-gf5jnBS, if you can’t afford to pay it off in 30 yrs at 35% income is not even for a generation to the next.
Yes!!! Thank god someone had the same mentality. Value should never go up!! People should spend their income on traveling, eating out and stop the greedy on HOME! Jesus
Rates don't need to drop, the principal needs to drop. Rates were artificially low. Rates should always reflect risk, and the risk is huge if we are to believe your own words, "very savagely unhealthy housing market". Your own words demand higher rates to protect the lender. The government needs to get out of the market of saving people from bad contracts, bailing out people and corporations, and start forcing accountability. Until then, the lack of principals and ethics will drive us toward the third world.
The governments also needs allow much much more construction instead it having to go through a nimby bureaucracy. At this point if someone wants to build the empire state in the middle of the suburban sprawl it should be allowed.
Let the prices come down.. I bet the the houses move... That's why home builder offering lower rate financing.. It's still a win win @5-6% rate
Haven’t you heard of “Too Big To Fail”? Business will continue getting bailed out. Especially banks. I remember car companies getting bail outs in the eighties. 🙄
@@fireflymary9269 Car company, Chrysler. They got government fleet contracts. Lee Iacocca, formerly of Ford, orchestrated it. It wasn't so much a bailout as a very large purchase order. Either way, the interest rates at the time were nearly double now and we survived. We need higher rates.
I agree. It's the price that needs to drop.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
If you are new to the market, I recommend seeking professional assistance. The most effective approach to creating a well-organized portfolio is to begin with a professional who is knowledgeable about the turbulent yet profitable market.
@LofgrenMark How can I contact your Asset-coach as my portfolio is dwindling?
@LofgrenMark Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
Buy brokered cds or treasuries. Good return right now. If rates start coming down. You can sell for a profit. Or just hold them. Putting a large lump some in the stock market is a huge risk. Most people do not have the fortitude to ride it out. You will most likely let your emotions get the best of you. Buy treasuries...brokered cds..and a money market fund for liquidity.....Dollar cost average in to the stock market. Buy index funds or etf's ...look at the xl etfs. Ie...xlf...xle...xlu...etc...there is one for each sector of the US economy. Don't buy the one that is at a high. Look at the sectors that are beat down. Like xlu for example.. just something to think about. And stay away from these idiots trying to promote some guru financial planner. You probably already know those are scams.
Never sell your primary home to invest in stocks
Everybody who talks about the housing market on mainstream media probably has 4-5 individual homes they are all trying to airbnb
That's fine as long as they aren't the dreaded nimbys that keep the expensive suburban sprawl alive.
We're in Uncharted Financial Territory! Every day, we face obstacles that have become the new norm. Although it was initially viewed as a crisis, we now recognize it as the new normal and must adapt accordingly. Given the country's present economic troubles in 2023, how can we increase our revenues during this period of adjustment? I cannot let my $800K savings disappear after putting in so much effort to build them.
Indeed, you are correct! Economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about a year.
@@trane85 That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
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Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Cheap money has consequences.
its simple basics 101 the fed has created another bubble from cheap money it will pop not just housing but stocks and bonds to. I feel really bad for home owners that think there is a 99% chance without doubt that because they got a low mortgage rate everything is just dandy and havent prepared for it. all bubbles pop housing market has only popped big 2 times in 100 years so its pretty easy for people to be short sighted and think that it has to unfold like 2008, just look at 1926 etc
this period is going to be very frustrating because your not going to hear from people or media what i just said and this is a slow process the real obvious blood in the streets is way out in 2026 it could be even longer if things get delayed
Yes!
@@brianoleson9224 Don't buy housing stocks.
Mortgage rates are incredibly low right now given the demand for housing. We should be in the double digits by now.
Nope
@@thatguybill34 Yup
How are you quantifying demand? And how are you quantifying buying power? Meaning, there could be demand, but does that mean they have the power to buy at these prices.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy. The fin-Markets have underperformed the U.S. economy as fear of inflation hammers the prices of stocks and bonds. . It might sound basic or generic, but getting in touch with a financial adviser was how I was able to outperform the market and raise a profit of $850,000 since June 2022. For me, its the most ideal way to jump into the fin-market these day.
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As a small builder, i can tell you that not only is it the high mortgage rates but the cost of building a new home. it costs about 30% more to build a house now as compared to 2021. Therefore we have to charge more for homes and borrowers have to pay more in interest and insurance. Unfortunately average pay rates have not mirrored the increase in costs. It is a real nightmare for us small home builders.
Global warming increasing fires over the last few decades has reduced North American timber reserves and that scarcity is reflected in lumber pricing. I expect lumber pricing to continue to climb literally for our entire lives.
Interest rate goes down? How about lowering house prices?
We homeowners are all sitting on MASSIVE paper profits but none of us can sell bc we are trapped. A very weird situation.
You know houses were meant to be lived in, not investments, right?
Savage times!
@@brent4073 in normal times, we could sell, and trade up. But no way i’m giving up my low rate mortgage. Probably same with many.
Paper equity.....sort of like what happened in 07. A glut of housing but ppl listed and tried to sell for a profit....until they couldn't.
I'm amazed people think any of this is sustainable. You're not making a profit if you sell and have to buy back in. This is indicative of houses being commodified and acting as poker chips in this game. When should you sell if you can't afford to buy back in?
@@NoNo-ng9sl None of y'all listening? We are trapped. Back then you could sell for WHATEVER reason you wanted befoe the crash. Now you can't with rates so high.
Yeah. Folks aren’t really waiting for rates to lower, they are waiting for home prices to lower.
you're going to be waiting for a while
A question a lot of people don't ask is "Why do I want to be in massive debt for 30+ years?". Unless you buy right real estate appreciation can take decades to become meaningful. Especially with the costs associated with the home. Even then you have to wait for a good peak to maximize selling. The American dream is not being in debt. It's having the money to enjoy some measure of freedom.
True.. that's why you pay off your 30 year mortgage as soon as possible.
@@lzkrishmom Depends on your rate. If you're one of the millions of people who locked in 3% over 30 years it's smarter to just send your extra money into a fund hitting 4-6% return instead.
🙏 amen. Blessed and retired at 50. Got there by sacrificing when others splurged, paid off when others charged, living expenses stood still as my salary increased, banked half our income the last five years of work. Live like no one else so you can live like no one else 😄
The amount doesn't even matter if I was given a home for free I wouldn't even want it because it would lock me into ridiculous property taxes and they seem to go up every year.
some really good points, been contemplating this over the years. Even with a six figure salary i cannot comfortably afford a home in Los Angeles, but my rent is only $700. Just easier to throw everything into an index fund at this point and not get "locked in" as you said to perpetual debt
The economy is not doing well. Most people are living paycheck to paycheck with 2 jobs. Credit card debt is at an all time high and student loans are kicking in soon. Car payments are $700+. Don’t kid yourself the economy is very ill.
Not if you buy a used car like a sane person. 700 is ludicrous.
why is everything targeted at the demand side? why is the govt not creating more incentives to increase supply?
we're short 3 million SFH. The only way through this is to build until supply far outweighs demand.
A big part of it is cost. Businesses charge based on cost.
Employment, healthcare, insurance, materials, transporting the goods.. those are the biggest reasons costs of goods goes up.
All those affect the supply side as well
Deflation will cause building materials to trend lower . Give it some time and companies go bankrupt as homedepot takes all the lumber 😂
He says, “when we got past 6% rates, we had he biggest crash in history.” What about 08?
He either misspoke, or he's not smart.
Crash in transactions. Not in price
He’s talking about 07-08
He means 08
He's talking about crash in units. Logan regularly refers to the July - Dec '21 unit collapse as the fastest crash in history (accurate). ~35% volume deceleration in 5 months 😳
A housing market crash will not help anyone but the rich afford housing. He’s right, homeownership is for prime high income earners. The rest of us who live and earn at the national average are SOL. living in an rv or van is what’s left. Even Tiny Homes are too high. Rents are insane. Probably best to move to another country…go third world.
We need to build new cities to add housing supply. Older homeowners block construction in their neighborhoods. Building new cities gets around NIMBYs blocking homes. New cities can be built around public transit, walking and biking to make the new cities more affordable since residents won’t spend as much on cars. New cities create whole new economies.
What happens is that people are moving to other states instead. But instead of making more infrastructure, the infrastructure that exists should be saved from the nimbys holding it hostage.
Spoken like a person who truly owns nothing.
@@seanm3226 yeah, we’ve created a society where ability, work, knowledge hardly matters. All that matters is what you already own and that you can stop anyone else with restrictive zoning. More open ownership would encourage creation and lead to a more wealthy society.
That's why they call it New York.
Yes, of all the people, we need to believe these housing companies or realtor companies to jump in to the housing market at the peak of the bubble. Keep the show going until it bursts with a loud bang.
Yep. I’m a homebuilder and can assure you - there is no supply shortage. Yes, supply is down, but demand is down more. Builders are about to lose everything.
@@Stockdoc254I’m noticing it in my area when homebuilders are providing multiple incentives, emailing, and calling me to see if I’m still interested.
@@Stockdoc254trouble is that there really is a housing shortage. In long term time frame that is. This is a short lull until rates come down. If we do lose builders that will just make the long term situation worse. Doubt there will be a massive crash and doubt it will last as long as 08
Its the Prices not the rates a house that was $150k now its $320k in 3 years. Without $320k perks
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
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In the short term higher rates will decrease listings. But in the long term higher rates are going to force sellers. Why? Because higher rates are gravity to asset prices. Why'd asset prices go to the moon? Because we took away the gravity. We're in this interim where higher rates are leading to fewer listing, but that will change. Leave the rates high for a prolonged time and watch these prices come down.
It is interesting to see interest rates continue to garner attention. The interest rates are not the problem. Americans can refinance the rate. The problem is over-priced houses. Eventually the taxes should force a move. The market is due for a correction.
Property taxes in CA doesn't work like that. I would imagine some other states are too. You can own a $2mil home in CA and be assessed at $150k, paying only $1850yr in tax. California passed this decades ago to protect the elderly so they didn't have to move due to rising prices / taxes on a home they've owned for decades.
But in Florida and other states like Illinois, etc. where assessments are every year and at market rate, the taxes will impact those markets eventually.
@@robwithrbk prop 13 is protecting very few people in calif now. most are not grandfathered into the protection and are fair game for greedy tax assessors
@@gregh7457 Embedded within CA tax code dating back to Prop 13 is max annual increases of property tax. The max increase is 2% of previous years property tax. That's not 2% of assessed, that's 2% of the actual tax dollars paid. On a $1500 tax bill, which man people have, the max increase is $30 to the following year. I'm in commercial real estate and see these very low assessments everyday.
@@gregh7457 If you have a 400k house you bought in 2002, which was a lot of money back then, your property tax isn't much higher than the original 1.25%. In 2002, that property tax was $5000 in year 1. That home is worth a solid $1.5mil but is still only assessed below $500k, with a pay rate of roughly 1.25% of assessed. All of CA works this way.
raising rate does not help people with low or medium income afford the house
Yeah it hurts us because the investors just come in with all cash
@@ilikesports8936 Yeah ! If the houses price goes down, it does still only favor who have more money to offer. No matter how hard or how many side jobs people try to do, it still does not HELP. The FED tell ordinary job people to battle with high tech workers or high income people???
@@jswagner9596Absolutely correct. These broke commenters who think a real estate crash is going to exclusively benefit them are delusional. You’re competing with deeper pockets, whether the market is high or low.
Or just lower the price
I love how no one says this. The govt has the average citizen rate/loan obsessed to the point they can’t even use common sense and think about what they’re actually paying for principle on things. Or god forbid, think that they could just be buying stuff in cash without loans if prices came down.
Well prices will just have to come down….
In my opinion, Housing Market Crash is imminently needed and soon coming ..
Not necessarily, if a crash happens, investors will buy it all up causing prices to go back up.
It's investors that are going to start shedding inventory 9-12 months. As rent falls, they will need to show the income on their books. Not saying they won't rebuy in at the bottom. That's in the future(took 3 years from the bottom last time for hedge funds to get in.) @@questionsanswers1108
The economy is so strong that even at this 7% mortgage rates, home prices have not skip a beat and decrease. Keep up the great work, FEDs.
Exactly. You gotta give it to these Harvard geniuses. They sure know how to make the economy do what it needs to do according to them.
It's not the interest rate that has caused inflation it is the lack (shortage) of goods and services brought about by the Pandemic (fewer workers) that has driven up the cost, oh and Biden.
Real estate "investors" need to pay a 100 percent tax on single family homes if they choose to become a rent seeking parasite.
Make it 120%! Make it so they are actively losing money renting the home.
Raising rate does not help people with low or medium income to afford the house. The increase in housing costs only serves to highlight how so weak dollars has become. A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater which is constantly making me worry about my savings. Urrrgh!
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Inflation is coming down and will normalize by next year
The high interest rates will eventually cause the home price inflation to freeze and slight deflate. We just need the rates to remain at 7-9% for a few years. I hope rates don’t go down.
Agreed
Logan is a Realtor...he has an agenda to keep home prices elevated.
When home SALES are at the lowest point in 35-40 years there is OBVIOUSLY not a supply problem. Now there is most definitely a demand problem! And for all those that think when rates lower this huge demand will happen, think about this:
Why buy a house in say March when rates will lower in April (Assuming fed lowers rates each meeting)?? You aren't going to close on a house and then refinance 3 months later! People will wait until rates bottom to get back in as buyers...this long path to lower rates is what will cause the housing crisis to turn into a crash!
home sales are at the lowest point because there are no homes to sell
@@jessem4659 Umm, nope. Locally, we have 6 months of inventory which is considered a normal market. Unfortunately, sellers still think its 2021 and buyers just aren't lining up at houses to buy anymore.
@@bluecollarbudgets local is always going to vary. It's an anecdote not a universal trend.
Look up housing inventory by year in United States. Not only is it the lowest it's been in over 40 years, it's significantly lower as a % of population.
After your done searching housing inventory by year, search "how many housing units is United States short". You'll see the number fluctuates around 3.5m to 5m housing units.
There is plenty of backed up demand on the sideline waiting, but prices need to come down. Flood the market with supply and prices will come down and sales will pick back up.
In the 90’s, I thought 10% was awesome. Previous 3% everyone felt rich. We have been spoiled by cheap money. Money is tight. Learn to live below your means not above your means with credit. USA is becoming expensive
Powell can't sleep again now. He should hike 100bps next meeting to stop the madness. Real estate Case Schiller Index shot straight up near all time highs in 5 months & GDP forecast shows overheated economy that does not respond to FED policy yet. Brutal inversion of yield curve needed until economic expectations are reset. If the data are confirmed (GDP & Case Schiller) it's about time for the FED to show who's in charge of the show!
The US government won’t be able to afford to pay the interest on its (massive out of control) debt if the FED keeps raising rates. They’ve got themselves in quite the predicament.
The housing market has been out of control since they deregulated and tore down the Wall between Wall Street Investment Firms and Main Street Banks then allowed them to get into the Real Estate business and to act as Landlords, that's one example. They also changed the rules on Foreclosure where Banks would have to auction off homes in a short period of time after taking them over so the market is unhealthy and unable to find it's natural equilibrium. There are other issues of course but those are two major things that need to be fixed. We need to set up some type of lending mechanism for homebuilding that's not so tied to the traditional lending market so that building won't be a boom and bust economy and we'd be able to keep up with the need to build enough homes for the growth of the population on a yearly basis, how that's accomplished is debatable but some kind of tax incentives or subsided rate structure is needed. One thing that's for sure is what is currently happening is broken and unsustainable.
One option is to have progressive higher taxes on the concurrent ownership of multiple single family home properties. So the third home if held concurrently with the other 2, should be charged 20-30% higher. Tax has to be high so it’s not passed down to the renter and comes to the market to sell.
Also rental depreciation should be removed from single family homes. AirBnB should be taxed at 50% with no rental depreciation.
Singapore and many other countries have progressive taxation on housing
YES PREACH
He said the economy is great??? Stopped listening at that point.
All you need for the contradiction to settle is unemployment rates to pick up (home owners have to dip into savings), reduction in occupancy in Airbnb, downward pressure and it's going to be diarrhoea as exit door narrows with reduced buyers on high rates and poor economy
Its a 1 to 2 year game plan. Rates have to stay flat historically for about a year to see any problems.
Credit debt highest
Savings lowest
Companies will have to feel the hit logically and also lay off eventually
Home selling comes back
In the Bay Area I have seen listings where people bought the townhouse for 900k in March 2023, and listed now after just a few months for 1.3million! We have not seen the top of housing yet.
Are they selling is the question I would like to ask
Also, did they do renovations?
Doesn’t matter what they want to list at. The buyer always dictate the demand.
The average person with an average credit rating is seeing 8% mortgage rates now. Remind everyone that only in the USA are there credit ratings.
Combination of high interest rates and sky high home prices will see this bubble explode like never before.
I paid 8.3 % for mortgage 34 years ago thank the government for cheap money
The cost of goods couldnt care less what the fed intetest rate is.
Logan is one of the best follows on Twitter and has been consistently correct on the big picture housing market.
When the economy does well and growth is seen then Mortgage Rates do imperatively rise as the lending is based on Land availability for Premium Projects as the addition of inventory and further clearances are based on the rise in Savings Deposits.
Nobody with a refinanced historic low-rate mortgage will sell their home...
Problem is the supply of new rental housing is built with expensive labor and materials.
I don't see rents going much lower because the structural costs are higher.
Livable wages ( salary range of ) $58,400/Year or up not mentioned in job description nor meets livable wage standards for living in Columbus comfortably. Job has no purpose when basic human standards are not met 🏡🏡🏡
So if few are buying homes...why are rents declining...you would think that if there are fewer homes rents would increase.
Home values are declining nationally
Seeing a lot of rentals being built right now. No one can afford to buy.
I wonder how much be if it we have if we stop increasing the value of home. Maybe we spend more time traveling, eating out and not worried about saving for retirement.
But why prices are not going down?
Exactly. Until rents and housing crashes, all the talk about arresting inflation is nonsense.
no one wants to sell because they can't buy something else... so pretty much people have to die or get laid off.
The price of everything skyrocketed but apparently people think the most valuable asset people own should get cheaper! Lol wishful thinking
@@joefuentes2977 It's not that, it's that its risen disproportionally higher than anything else.
Low inventory because no one wants to sell and lose their low mortgage
The economy is doing well? Homeless population increased 11% in a year!
Logan knows his stuff. Jobs are strong, homeowners have skin in the game - no imminent crash. Just a horrible RE market. Helps slow the economy.
Good news for stocks. Go oil!
Not buying that MSM koolaid
How high would rates go if they reported real inflation numbers
The prices are not down because the people who sold the house last year and had got good profit has brought the house with cash
I welcome 8 percent people with less debt pay more down. The house is new ponzi people borrow house debt age of house people 60,s paying thousands.Good insight on housing.
zero incentive for low prices or rates... they want people in debt paying rest of their life because banks and the government are working together.
If you have debt, you have to have income to pay, you have to pay the highest taxes on earned income.
Oh yeah, higher prices mean higher property taxes too...
Interest rates are not coming down for years.
There is no crises. There is greedy sellers
Between inflation. Increases is housing, prime, and for auto industry. Foreclosures and loan defaults are in the future. Everything increases, but not pay. We are going to crash. We are in a Depression. We just don't use the term. Something they steer clear of, because most politicians are invested. You will feel it 2nd quarter 2024. Good luck to you all, and god bless.
Housing market shouldnt crash on nominal value with all the money printing thay they did during covid all over the world. Only real value will go down by time.
people forget we used to be in double digit rates a few decades ago.
Yeah you mean under runner up worst potus in history. Jimmy. Now Biden worst ever. TRY 4 DECADES AGO. you sound like Biden administration in spinning reality. That’s in 1981 lol.
@@theTrinity431bush started this whole housing crisis and the economy never recovered they just kept printing money. So what’s your excuse there? 🤔
This is a return to NORMAL. Over the past 30 years, the 30 Year Mortgage Rate in the United States averaged 7.74 percent from 1971 until 2023. This is typical for mortgage rates. The problem is lack of inventory, over spending on housing, and institutional (Hedge Fund) ownership of housing.
American's have been living off free money for 15 years - unless you had a good long term loan - there is going to be alot of pain.
Rates are too high and prices aren’t really dropping much anyways. Inflation is still here whether we like it or not.
The Fed is trying to increase unemployment which will in turn force more people to list their homes for sale and without buyers there to buy them it will drive prices lower. Causing a correction to the housing market is #2 on the FED's list of goals with #1 being getting back to 2% inflation.
Not me, I’m paid off 😂
Higher mortgage rates will cause less rental homes Trudeau is definitely woke
Why can’t the home prices drop?!
So let me get this straight when the economy does good house prices go up on the economy goes down house prices still go up who is in charge of all this and then need to be fired
The more the mainstream media keeps insisting a crash won’t happen the more I’m insistent in the fact it absolutely is going to
Something has gotta give! Nothing is going to change till those rates come down. Couldn't be that PRICES need to come down hmm??? The longer the bagholders that bought in this inflated market the last few years clench to their pearls will just be longer locked in and sweating at these interest rates.
Oh yea. That’s what they said when it was nearing 6%…..
highest consumer debt in history. People are living paycheck to paycheck... economy is doing great. If you keep saying something when emperor has no clothes, is it true?
8%, let’s go! NAR class action suit, guilty! 👏. The realtor reckoning is here 🤟
Guilty AF
At 5.1 I can barely afford my home Trudeau needs to go he lost my vote
Housing needs to come down, because who can afford? Crashing is a good think for real estate investors and buyers. I mean what are you talking about, crashes are awesome.
This guy said we had the biggest housing crash in In history when interest rates hit 6%. This year.??? Surely you misspoke! For some reason he also seems to think that the only thing to break The housing crisis is going to be interest rates I'll bet the "house" on housing prices before interest rates will break.
what's he smokin? Nobody PAID their rent for the last two years!! Ya think the landlords are gonna let that slde?
Woah stop buying then
This guy is just propping the housing market hoping it won't crash. Real estate market is different in various regions. I have seen many homes on the market 1+ years not selling, foreclosures, and auctions popping up, so I have a difficult time believing that real estate is not going to crash. I am predicting 2025.
The unhealthy housing market is anytime fhe price of the median house exceeds 3.5 times median income. All the rest is just noise.
Wow what a surprise 🤯
Can’t Ford trailers or mobile homes and the rents either. Homelessness, houseless ness will keep rising.
Crash,crash,crash. News keep forcing the narrative crash for years non-stop. Its exhausting.
Alrighty. Well, I stopped watching the second I heard this guy say the economy is doing well. The fact that he said that with a straight face let's me know this guy has no idea what he's talking about.
Economy doing good ? Because of sloppy Joes inflation, nobody can afford to live.
Real estate professionals are the worst people on the planet lol
I bought in 2021 at 1.5 % why the heck should i move and pay 7% on my next purchase, if you want a housing crash,...bring the int rates down and i will sell
You did not get a 1.5% fixed rate mortgage.
Make it easier for people to assume their assumable (FHA VA USDA) loans
no party last forever. this guy looks like he loves parties.
economy is doing well... mmmmhmmm..
Soo, the next generation will have to be renters?
This dudes an expert and says the economy is doing well lol
His Hair is AMAZING!!!!! Just thought id Throw that out there
boy she sure seems depressed, cant get a house to house all her family and extended family will fit in and feed them ???
All this academic nonsense. These people know nothing.
Turn 40 next week.. live in Boston.. still renting. Guess I’ll never own a house
Not when you live in Boston 👊😆🤣
Just move to WV or Pennsylvania, just cuz those aren't far, and you could buy a few houses 👍
@@RW-zh7kl good point! Time to GTFO. Too many Marxists here anyway
He said the economy is doing well😂😂😂😂
New affordable home construction is the answer.