76% of Americans Say it's the WORST Time to Buy a House

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  • Опубліковано 12 тра 2024
  • A recent Gallup poll shows that 76% of Americans say it's the worst time to buy a house. The CEO of Redfin Greg Kelman recently said that the country is now in a housing recession. People have had enough with the high home prices and mortgage rates. This week we'll discuss why Americans are felling this way.
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КОМЕНТАРІ • 277

  • @alasdekarton
    @alasdekarton 13 днів тому +29

    Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

    • @bombasticlove76
      @bombasticlove76 13 днів тому +1

      People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

    • @mohamedali-fj8xz
      @mohamedali-fj8xz 13 днів тому +1

      Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

    • @ufuksenol2005
      @ufuksenol2005 13 днів тому

      Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian.

    • @katiekilbo
      @katiekilbo 13 днів тому

      Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

    • @MianHussnain-tu1wi
      @MianHussnain-tu1wi 13 днів тому

      I'm surprised that you just mentioned and recommend Mr Brian Nelson. I met him at a conference in 2018 and we have been working together ever since.

  • @nicoleadiaz1
    @nicoleadiaz1 6 днів тому +3

    We had a contractor look at our home before buying it. BIG MISTAKE! He didn’t find the mold , and the MAJOR foundation issues.

  • @brunoheggli2888
    @brunoheggli2888 13 днів тому +24

    Buy nothing!No car, house,TV,just nothing!

  • @micker9830
    @micker9830 11 днів тому +5

    Wait until rates drop, you think buying a house now is hard and expensive??

  • @patrickjones1392
    @patrickjones1392 11 днів тому +55

    I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.

    • @clarisse2096
      @clarisse2096 11 днів тому +6

      it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.

    • @tammystut
      @tammystut 11 днів тому +3

      well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs.

    • @clementdan9417
      @clementdan9417 11 днів тому +5

      Certain ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.

    • @patrickjones1392
      @patrickjones1392 11 днів тому +3

      I'm an art collector, this is not very new to me but has a nuance to it. Can you assist me? how do I find a fduciary

    • @clementdan9417
      @clementdan9417 11 днів тому +5

      monica mary strigle, you'll be in luck at this time of year to have a conversation. lady is hot topic in downtown manhattan and you must not be and accredited investor. Just browse.

  • @shaunapatton5173
    @shaunapatton5173 5 днів тому +2

    I live in Utah and I have never seen house prices this high . People are shacking up together because they can't afford rent and buying a house at these prices

  • @jobellecollie7139
    @jobellecollie7139 14 днів тому +9

    I grew up in New England. My military career has taken me all over the world. I retired in Alabama, along the Gulf Coast. Most Military towns will always be hot.

  • @uranusplanet1226
    @uranusplanet1226 8 днів тому +2

    If the average income is $60K then your home price range should be around $150k (Most Americans 80%)
    Not only that, but also during the period of "owning" the house. You will be screwed if any of the following happens:
    - Home insurance if it goes up in future
    - Anything breaks (Roof, plumbing, mold, fix ups, walls, ...etc)
    - Property taxes goes up
    - HOA prices changes and go up
    So risky to "Own" a house. In fact I dont even consider the word "Own" a valid description. More like "Responsible" not owner. Because you dont own shit. They can take your house any day if you stop paying their crap. Their crap can be changed any time in future to knock you out. Like here in FL house insurance doubled. So all "Owners" are screwed now. Even if you do the math right. Still in future they can tweak prices on you.
    This is scam. I did not even mention the long list of rules you have to obey from the trash, to the fence, planting a tree in backyard, or add a fence here or there. You have to take permission from the REAL OWNER otherwise they will fine you if not take your property.

  • @josephtucker3134
    @josephtucker3134 9 днів тому +2

    Can’t believe she said don’t worry about the rate. You can refinance. This is not fact.

  • @highvibrational2007
    @highvibrational2007 13 днів тому +4

    New construction buyers oever the last 3 years are now complaining because the builder was only paying land tax... but the property tax gets jacked up once you buy.

  • @robertherman1146
    @robertherman1146 14 днів тому +4

    Well somebody’s buying up houses like there’s no tomorrow because as soon as they come up for sale they’re snatched up at over the asking price.

  • @dylyo1
    @dylyo1 14 днів тому +12

    We need to call out the mega investors that loaded up on homes to make big $$$$ for AirBnB, etc profits. Nothing could stop them, they had even cheaper lending overhead than retail buyers. No one stepped up to protect consumers and now we're all in a really bad spot. If this is not addressed with legal action at the Federal level the problem will not get any better. This can last for decades if it remains unregulated.

    • @livethedarma
      @livethedarma 14 днів тому +1

      Great addition to the discussion and insight. I forgot about all of the AirBnB's and vrbos in 'the most attractive and expensive markets' that have also reduced inventory and pushed home prices up.

    • @sczr1186
      @sczr1186 13 днів тому +1

      Its a done deal dude. Instead of complainin about an irreversable problem, you need to look into movin to another country where housing is more affordable.

    • @dylyo1
      @dylyo1 13 днів тому

      @@sczr1186
      Left the US years ago. The homes were just as either overpriced for the build or infrastructure was severely lacking. It's no fun when you burn through appliances because the electric grid is spotty or no one can buy your home for years because theres just no interest in your property. Everyone sells roses abroad but it's mostly a fantasy.

    • @lg1886
      @lg1886 13 днів тому

      @@sczr1186lol

    • @donelci9337
      @donelci9337 13 днів тому

      The free market lol

  • @GTOberfest
    @GTOberfest 8 днів тому +1

    The best part about this channel is that it is grounded in reality. No BS.

  • @michaelsix9684
    @michaelsix9684 14 днів тому +17

    it's really tough, high interest rates, low inventory, inflation --I'm out

    • @Thorny_Misanthrope
      @Thorny_Misanthrope 14 днів тому

      Bought my first townhouse in a smaller ag town forty-five minutes south of San Jose about 25 years ago. I paid over eight percent interest on a VA loan without complaint. I had mediocre credit. By 2005, I almost doubled my money and got a condo close to work and paid way less in interest. It’s never a bad time to get into the market.

    • @ianlloyd4301
      @ianlloyd4301 12 днів тому

      @@Thorny_Misanthrope2005 was when housing was in a boom phase . I don’t her you saying 2008 when prices were at an all time high being a good time to buy . If you. Ought in 2008 you were under water for the better part of a decade

  • @7SideWays
    @7SideWays 14 днів тому +4

    76% are right for a change. We sold most of ours in '22 and don't expect to hunt again 'til '26. Buy off- market from a friend of a friend. Ears open!

  • @TimArmstrongmarketing
    @TimArmstrongmarketing 13 днів тому +2

    Rent is not going down.

  • @livethedarma
    @livethedarma 14 днів тому +18

    I am so sick of this housing market. I refuse to look anymore. I was looking in the St. Louis area and they have more than doubled in 2 to 2-1/2 years, for anything that is decent in a decent area. Yet, according to the 'experts', prices have only gone up 5% year to year. I don't get it. There are no more experts. Plus, investors have ruined the housing market. After 2008, the big banks that we all bailed out had a lot of foreclosures and short sales on their books. So, they turned around and sold all of those millions of homes to the very speculators that almost brought the global market crashing down, Wall Street, private equity, hedge funds... I don't know what the stats are but in the Phoenix and Atlanta areas, 1/3rd of all single family homes are owned by investors. This was not the case prior to 2008. Wall Street companies did not own single family homes. Predatory capitalism at its finest. Well done Wall Street! And now you can keep jacking up our rents to make sure that we never save enough to buy! It's the new American way...

    • @marisamarino7596
      @marisamarino7596 14 днів тому

      I’m on the other side of the river from you in IL and it’s the same here.

    • @livethedarma
      @livethedarma 14 днів тому

      @@marisamarino7596 I know. I have looked in Belleville, Fairview Heights, O'Fallon, Shiloh, and Alton. What was going for $250,000 a few years ago, which was on the high side, is now easily in the $400,000's to $500,000's. And taxes in IL are not low. I sure hope buyers know what they are getting into. Plus, just about every house I saw had rotting wood, mildewed eves, old roofs and many weren't updated. A house that I looked at in Belleville was listed for $199,000 back then, sold for $235,000, and then was relisted a few months later for $329,000 and it sold! Nothing had been updated since the 50's. I have stopped looking. I'd go to Mexico but Americans are doing the same thing there and buying up all of the nice homes in popular, safe towns. This will not end well.

    • @michaelsix9684
      @michaelsix9684 14 днів тому +2

      Wall St. found they could make more money renting homes than selling paper, I get calls every week from investors want to buy my prop. in Houston, most calls are from out of state

    • @Jcakiiiii
      @Jcakiiiii 14 днів тому +1

      Only 5% yoy (yoy= current year vs. the previous year) because of how much it rose over the past few years. It’s more like 40%+ compared to pre-pandemic.

    • @livethedarma
      @livethedarma 14 днів тому

      @@Jcakiiiii @Jcakiiiii Every market is local. I also say decent homes in decent areas. There are a lot of homes in the STL metro area in 'unsafe areas' that are not worth saving. These homes are figured into the broader stats, holding average values down. They don't really go up in value. I am not talking prepandemic. I have looked since Fall of 2021. The market went crazy then and hasn't settled down. Yes, many homes in many areas have more than doubled in price since then. I always look at the Property History to get an idea of past sales prices for the listings I like.

  • @tinasmith8241
    @tinasmith8241 14 днів тому +3

    We pulled our house off the market in the PHX area and decided to stay put due to the crazy prices.

  • @kikilynn1167
    @kikilynn1167 13 днів тому +2

    I'm in Palm Springs, CA and most of the listings here have price decreases.

  • @isanchezflus
    @isanchezflus 14 днів тому +12

    I have about 140k save up to buy a house either as a down payment or may be with no mortage anymore who knows what will happen, things are getting so Hard for everybody and sooner or later we will find a break even point

    • @nesq4104
      @nesq4104 13 днів тому +1

      Skip the mortgage and pay off a home. For that price. I did it. Best decision ever

    • @isanchezflus
      @isanchezflus 13 днів тому

      @@nesq4104 i wish doing so, but here in FL every think cost too much and paying off a house isn't a easy step, I will be pending on how things are going thru

    • @1powerequalsgod
      @1powerequalsgod 13 днів тому

      The best bet is avoid a 30 year mortgage with the coming silver tsunami. The truth it’s going to take something like 15 years to build up equity a the home selling in the US with Boomers and Gen X getting out raising kids after age 18 puts extreme pressures on the U.S. housing market. You definitely don’t want to buy a home in the wrong demographic area where homeowners is very close to age 50 and up. The potential sell off cycle is far too extreme time wise to build up equity. So many Boomers and Generation X have to combat each other selling after they are in their 50s poses serious challenges ahead for them financially on who will take over these residential properties neighhoods where they exist in high numbers

  • @Jennifer-oy4ws
    @Jennifer-oy4ws 14 днів тому +26

    *Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

    • @LawrenceCahill
      @LawrenceCahill 14 днів тому

      Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?

    • @DaveSpencer18
      @DaveSpencer18 14 днів тому

      Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Andrew Louis Stella, has been an amazing experience.

    • @LouisAntony-lx9lq
      @LouisAntony-lx9lq 14 днів тому

      YES!!! That's exactly her name (Andrew Louis Stella) so many people have recommended highly about her and am just starting with her 😊from Brisbane Australia🇦🇺

    • @KurtFischer-yo4ni
      @KurtFischer-yo4ni 14 днів тому

      Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦‍♀️of myself because of low finance but I still
      believe in God

    • @hansbaumann2057
      @hansbaumann2057 14 днів тому

      I'm favoured, $60K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Angela 😊🎉

  • @infiniterecursion9550
    @infiniterecursion9550 13 днів тому +2

    I'd be hesitant to get new construction unless it's not in an HOA. I don't trust HOAs.

  • @mukbangjeezus126
    @mukbangjeezus126 5 днів тому

    I started following you because people think im crazy. My close friends. yet they're not realtors. Thank you for providing knowledge. I am waiting on the sidelines.

  • @SailorDoc
    @SailorDoc 4 дні тому

    There are countries that make institutional investmment of housing illegal. And buying second home gets taxed higher and 3rd and more becomes increasingly restrictive. Even buying houses for investing purposes for individuals was illegal whenshortage was severe. It isnt unheard of. As thing are getting ridiculously absurd we need to do something to protect the supply of something that is so essential to living.

  • @route2115
    @route2115 12 днів тому +1

    You have a great channel. Thank you.

  • @RED-cy7ig
    @RED-cy7ig 14 днів тому

    Very informative.

  • @SailorDoc
    @SailorDoc 4 дні тому

    Midwest price outlook is pointing downward, inventory increased while sales still going down. Looks like its completely shifted...

  • @romonaeggenberger6380
    @romonaeggenberger6380 19 годин тому

    I enjoy your videos, you are smart and informed, I am an agent in the Palm Springs Ca area, and you seem to know your material. Thanks Jackie I really enjoy your videos.

  • @shaanproms2101
    @shaanproms2101 14 днів тому +5

    Buying a home is the dumbest thing to do in the current economy. You would not get a better home less than 700k, if you do the math you would pay $49k just on the interest+ $12k taxes+ $3k on insurance= $64k wastage per year as opposed to $30k per year in rent , you will literally save $34k.

    • @kevoreilly6557
      @kevoreilly6557 14 днів тому +3

      Most likely you are getting back 25-35k in deductions on interest and property taxes

    • @shaanproms2101
      @shaanproms2101 14 днів тому

      @@kevoreilly6557 thanks for the note. However, I could deduct the 64k from my income, still it could only save about 20-23% of 64k which is roughly 15k. How could it save 25-30k?

    • @Summerdee223
      @Summerdee223 14 днів тому

      @@shaanproms2101 Can you move to a city/state where the only decent homes cost less than $700k? That is crazy high and there are many, many, many cities and states where you can purchase a decent (starter) home for half of that.

    • @livethedarma
      @livethedarma 13 днів тому

      @@Summerdee223 Hummm... but the best jobs are in the most expensive cities. Investors know this. That is why there are so many institutional investors in hot markets where a lot of people are moving because of job creation, like Phoenix, Las Vegas, Salt Lake City, etc. So, yes, we could all move to rural Kansas but we would have to be work from home. I agree that $700K sounds high. Say the average home in most areas today is $350K. However, an average home is not necessarily a good quality and updated home.

    • @MiamiPush2theLimit
      @MiamiPush2theLimit 13 днів тому

      I just bought a new build 4/2 house in central FL for $370K because I want a home, a permanent roof over my head, stability and comfort for my family for the rest of our lives. It’s not a temporary investment. This is for a lifetime. I think if you look at it that way, you don’t care about temporary “savings” in rent.

  • @NukSooAL
    @NukSooAL 7 днів тому

    I had a house fire in December it was a total loss we decided to move instead of rebuilding still looking for a home

  • @livethedarma
    @livethedarma 14 днів тому +1

    Most people don't realize that home prices are not figured into the CPI, the Consumer Price Index, that the Fed uses to determine the rate of inflation. Homes and home improvements are considered 'investments' like stocks and bonds, not monthly living expenses. The Bureau of Labor Statistics or BLS comes up with the monthly inflation indexes used by the FED. The following was pulled from an article describing the change made to the CPI in 1983, where home prices and costs for home improvements were taken out of the CPI (and thus no longer included in the inflation index):
    Economists argued that it made more sense to think of homes as capital goods that “produce” housing services. It’s these housing services that actually get consumed. This is easy to see for renters, since the capital good-the home-is owned by the landlord. But economists argued the same principle could be applied to homeowners, who can be thought of as renting their homes from themselves. That’s the approach the BLS has taken since 1983. Instead of collecting data on what homeowners actually spend to buy and maintain their homes, the BLS estimates how much homeowners would have to pay to rent their homes from a hypothetical landlord. This “imputed rent” is used to estimate the inflation rate for owner-occupied housing.
    I don't believe in conspiracy theories but it sounds like someone ate a few too many maryjane cookies back in 1983 to me.
    Just know that home prices and costs for home improvements, like adding new landscaping or a pool; remodeling a kitchen, bath, or a whole home (even if it is falling apart); repairing termite damage; or putting on a new roof are no longer included in the inflation rate as these are seen as capital investments, not living expenses.
    And I am still seeing articles that say that home prices only went up by 5% from 2023 to 2024. What planet do these people live on?

  • @md37567
    @md37567 13 днів тому +1

    When you refinance you will add that fee to your mortgage which is thousands more in debt. Don’t listen to the realtors as rates are not going to go down anytime soon. They have no reason to care as once you buy that house it is the buyer’s problem and they walk away with their commission.

  • @ianlloyd4301
    @ianlloyd4301 12 днів тому +1

    No the worst time was last summer up to a couple months ago . Homeowners are starting to get a little dose of reality as their home has been on the market for months and there are no buyers

  • @markbaker8607
    @markbaker8607 14 днів тому +2

    I say I buy I a minivan and go to Arizona and chill until the market calms down

  • @mirceabujor4987
    @mirceabujor4987 13 днів тому

    really like your videos! when is your next live?

  • @toddwerther188
    @toddwerther188 14 днів тому +1

    Not sure rates are coming down, at least in the next year... just as much possibility of a rate HIKE. It'll take a few years for wages to catch up. IMO the only reason we're even talking about this is because we just came off the hottest market since 2004 and went straight into a dead zone. That is a 180-degree shock and realtors thought the good times wouldn't end.

  • @julieritchie9809
    @julieritchie9809 10 днів тому

    I’m wondering why in CT there is no apartment availability waiting lists are even gone I thought people were fleeing the state

  • @hbkmog2766
    @hbkmog2766 13 днів тому +1

    Simply put, if you need a mortgage, its not worth it due to the high interest ratw. If you buy with cash, this market won't affect you and you have a pretty good hedge against the current economy.

  • @nancykay4128
    @nancykay4128 14 днів тому

    I’ve been working in real estate in Columbus, Ohio for 10 years.
    During the last 4 years we’ve seen so many buyers waived the inspection and paid the entire appraisal gap while having to show
    proof of funds to cover the gap. Then they’re fortunate if they haven’t been beat by a cash offer that closes in one week!
    Buyers also routinely allow sellers to live in the home past the closing date paying no rent back anywhere from a few weeks to four months. Then when the sellers finally move out, all heck breaks loose when sellers have left trash, damage and items in the home and won’t transfer over the Nest doorbell system to the new buyers. It’s exhausting! If first time buyers don’t have rich parents to contribute,
    they go from home to home, making offers every weekend for months at a time.😢

  • @MikeG.666
    @MikeG.666 7 днів тому

    Had to move, so i decided to buy. Closing Thursday. Planning on refinancing when the rates drop. Wish me luck.

  • @markbaker8607
    @markbaker8607 14 днів тому

    I am looking at Maysville Kentucky

  • @gingerjones111
    @gingerjones111 14 днів тому

    My house is the only property that has sold in my town in the past 4 months. True comps are based on what has sold in past 3-4 months. The town population is 15,000. The appraiser just appraised it exactly at selling price, because he had to. That's how its done when you have no other true comps.

  • @marianwhitcomb7518
    @marianwhitcomb7518 7 годин тому

    Love the bathrobe! Be comfortable, and flaunt it!

  • @WorldSuperMoms
    @WorldSuperMoms 14 днів тому

    Hiii Young lady. Happy Mother's Day belated. Here in Delray Beach Florida, on Aspen Drive, HOA community a house disorderly for %99 over asking. This is so insane. 😂

  • @josephsprong633
    @josephsprong633 13 днів тому

    Question: My wife and I were wondering what your thoughts might be on Atmore, Alabama? And Molino, Florida? Would you happen to know of a USDA program in either of these towns or perhaps an agent who could help inform? Thank you! Your channel is awesome!!! Very informative!!

  • @darkbrownblm2854
    @darkbrownblm2854 11 днів тому

    As a baby boomer, I purchased muti-units foreclose properties in N.Y.C. during the early 1980s and did very well finanically because of the built in equity. I recommend first buyers go that route if they can, so tenants pay the mortgage and they'll have equity up front.

  • @cwilliams7017
    @cwilliams7017 13 днів тому

    It's a bad time to buy a house. But as corporations buy up houses sight unseen, with cash, and keep getting richer, it won't get better. It will get much, much worse. These are unprecedented times.

  • @reempire888
    @reempire888 11 днів тому

    We are DINKs (not by choice). We have 2 homes, both were purchased in 2001. We were looking to sell one and buy a bigger forever home, but that doesn't look like to be the case anymore. On the other hand, we are glad because our mortgages are less than studio rent in some cities and we have good income. But you're correct, it's hard to get over the feelings of FOMO for some people. I know people have mortgages more than $6k a month and one even at $12k a month in San Francisco. How can people sleep at night? So many are so stretched it's not even funny.

  • @laurieneary6610
    @laurieneary6610 11 днів тому

    Rates they have been high in the 80s, but you take these high rates coupled with these astronomical prices and you don’t have salaries that have skyrocketed to match it and you have priced people out of homes

  • @gailobrien9380
    @gailobrien9380 14 днів тому +3

    Yep, I’m a 65 year old Baby Boomer, who has everything tied up in my house and I’m here to stay! We call it Aging In Place!
    Sacramento, California

  • @RomeoUrsu-fy9qo
    @RomeoUrsu-fy9qo 13 днів тому +1

    76% are saying that buy a new car is to expensive..but they go and buy another one over and over again 😂😂😂

  • @philliphorne8372
    @philliphorne8372 8 днів тому

    I think America will eventually become a high percentage of renters “ you will own nothing but be happier” I think it’s going to get crazy

  • @micker9830
    @micker9830 12 днів тому

    I'm not even worried about the price so much as finding a house to buy lol. We are thinking about moving back from SC(warm and near the beach) to CT, which I know we will regret, but all our friends ad family are still there. Anyways, there are VERY few houses for sale up there and they sell super fast for way over ask right now. Our house here easily doubled in value over the last 4 yrs and we just sold our rental across the street, for more than double what we bought it for 6 yrs ago. Probably wait awhile and see what happens, because this market now is insane.

  • @texlad04
    @texlad04 14 днів тому

    My landlord - like other highrise landlords in Houston - is definitely taking advantage of interest rates and scarcity. Most of use can qualify to buy but we don't want to pay the high interest rate or haven't found what we want. We have high incomes and cash to put down and it's costly for us to move. So here we are with 15-20 percent rent increases. I'm out - moving whether it's rent or buy. But it's maddening and they are creating a boom/bust cycle in our tower. I know they are doing this because they use RealPage and they need to refi the loan. So I need to suck it up and either rent cheaper or find a house not too overpriced and suck it up on the interest rate. Lovely!

  • @divermike8943
    @divermike8943 14 днів тому +2

    What's the near future going to be like? Will the Fed reduce rates? IDK the whole point in raising rates is to curb inflation. If housing prices don't come down that's inflation staying with us. Right? Someone has to take the hit. It's either curent owners or new buyers.

    • @tinasmith8241
      @tinasmith8241 14 днів тому

      The future is no more homeownership. Wake up...people are so blind they cannot see what is happening...it is called silent warfare...taking over private ownership without a military takeover, just simply manipulating the masses via the back door....

  • @zapdosmtr4961
    @zapdosmtr4961 14 днів тому

    Some people around me bought homes in the last year and im here saying im good with renting right haha
    At the same time, everything is in bubble with mortgages, auto loans, and student students...

  • @unbothered6357
    @unbothered6357 8 днів тому

    Just sold mine

  • @cindycrewsbeach72
    @cindycrewsbeach72 9 днів тому

    Oh my god, you are such a Debbie (Jackie) downer. I’ve tracked listings and sales for months in my zip code. Houses go on market and sell within 3 weeks. Yes, they are dropping price, but not below market. Our inventory is limited in Austin, but still moving. It’s a Buyers market here. I’m selling and people want to get a deal. Interest rates will fall eventually. But it should never go below 5%. That was a huge mistake. It’s unrealistic. That caused this whole fiasco.

  • @markemahebberd7044
    @markemahebberd7044 13 днів тому

    First time home seller here. Is it a good idea to get my own home inspection before selling to know what might be red flag for buyer

  • @Ocyla
    @Ocyla 13 днів тому

    Yeah we were planning on moving to a different style house in like 2 years. I don't think that is going to happen. The math doesn't work out at all.

  • @Cuz504
    @Cuz504 14 днів тому +7

    The future is people will rent. You will own nothing and be Happy !

    • @jessicaliu9906
      @jessicaliu9906 14 днів тому +1

      Just like Los Angeles and Chicago New York. Most renters

    • @tinasmith8241
      @tinasmith8241 14 днів тому

      yes, and the dumbed down population sit idly by why their government pilfers everything they own.

    • @ErnieBert-eg8kd
      @ErnieBert-eg8kd 14 днів тому

      Unaffordable prices are part of this plan

  • @carolchartier
    @carolchartier 13 днів тому

    But closings are still happening everyday.

  • @michaelsix9684
    @michaelsix9684 14 днів тому +1

    we may never see int. rates at 5% or below again for years, young people are facing bad future in housing

    • @Summerdee223
      @Summerdee223 14 днів тому +1

      5-6% interest rates in housing is the norm and the recent super low interest rates are what got us into this horrible mess. I would recommend to first time homebuyers to get into a home as soon as they find a reasonable deal in a decent location that they can reasonably afford. Just getting into the "game" will set you on a path to build equity. Yes it is hard, but will likely continue for many years and you might as well lock in and build equity as soon as you can do it without putting yourself in a financial bind.

  • @michaelsix9684
    @michaelsix9684 14 днів тому +2

    94 I bought my first home in Houston, int. rate 8.75%, house was built in 1950, 975 sq. ft. old rental house, paid 55K for it, sold it 15 yrs. later for 150K, put 60K into it, and it was nothing but repairs for 15 yrs.

    • @therealmotherhood
      @therealmotherhood 14 днів тому

      Thank you, for your honesty

    • @Summerdee223
      @Summerdee223 14 днів тому

      You sold in 2009 if my math is right. 2009 was the height of the GFC and housing prices were at a LOW. If you had waited a few more years you would have sold for much, much more. On the other hand if you turned around and bought another home in Houston right after you sold in 2009 you got a good deal and have likely seen your equity double since then. Timing is crucial in real estate.

  • @typennix4037
    @typennix4037 13 днів тому

    Military towns will always be hot markets. You can put down roots and buy or be a lifetime renter. There's no right or wrong choice. Make the decision that's best for your family, not for everyone else. Avoid bidding wars, and don't overpay.

  • @bobbullethalf
    @bobbullethalf 13 днів тому

    Just rent, the landlord has to fix everything and you can just live easy for years, just pay rent.

  • @mikeking-lc3vl
    @mikeking-lc3vl 10 днів тому

    And if and when prices decline there won't be any money to lend. Rates will remain high.
    The democrat private central bank has wrought RUINATION upon our land.
    FIRE THE FED. FIRE THE FED.

  • @jobellecollie7139
    @jobellecollie7139 14 днів тому

    If I could find a home in Cape May NJ, I’d move back.

  • @marcielynn4886
    @marcielynn4886 12 днів тому

    😮😊Then is it the best time to sell one?

  • @michaelsix9684
    @michaelsix9684 14 днів тому

    best buys in TX are in small towns outside big cities

  • @billredding2000
    @billredding2000 14 днів тому

    IMO, it's a bad time to buy due to the persistently high mortgage interest rate, not so much house prices (even though they're over-valued/inflated). While I've seen house prices dropping regularly -- even if slowly in the markets *I* am interested in (Colorado Springs for one example) -- I still need the interest rate down a whole lot more before I'll jump.
    Fortunately (I guess!), I have a "built-in waiting period" (2 more years) as I need the time to prepare for the mortgage pre-qualification process, so I couldn't buy now anyway even if market conditions were "ideal." However, I DO expect house prices to continue dropping and in said 2 years I also expect the interest rate to be lower as well.
    Still, no one knows what the housing market (or auto-market, which I see as almost identical in its insanity) will be like even this year let alone next year, so only time will tell that tale. Personally though, I'm very optimistic.
    -- BR

    • @jorge1170xyz
      @jorge1170xyz 14 днів тому

      Interest rates are fine where they are. Even 8.5%-9% would be fantastic. Given enough time, everything balances out and trust me, it is far better to buy with a higher rate and a lower price than a lower rate and a higher price. The exact opposite of what is taught.

    • @billredding2000
      @billredding2000 14 днів тому

      @@jorge1170xyz Not for me. Thanks...

    • @colettespencer3357
      @colettespencer3357 14 днів тому

      It will come down. We are in a recession now...soon to be a depression

    • @kevoreilly6557
      @kevoreilly6557 14 днів тому

      @@colettespencer3357nonsense

    • @billredding2000
      @billredding2000 14 днів тому

      @@jorge1170xyz No, rates aren't fine for me (for reasons atypical of most buyers). Thanks,
      -- BR

  • @Mike_257
    @Mike_257 14 днів тому

    It should be 90% the least😢!!!!

  • @BohwanPark-bw4lw
    @BohwanPark-bw4lw 5 днів тому

    Hello

  • @gatsby456
    @gatsby456 14 днів тому

    SO is renting your house located in a desirable area for rentals a good strategy for passive income to buy your next home in this market?

  • @ronaldleeejalu3889
    @ronaldleeejalu3889 14 днів тому

    Hi Jackie, what is the name of your podcast?

  • @marisamarino7596
    @marisamarino7596 14 днів тому +2

    First time home buyer here… and yikes!! Been looking a long time.

  • @scottl9660
    @scottl9660 14 днів тому +1

    I like to refer to that rivalry as real jersey vs north jersey 😊

  • @divermike8943
    @divermike8943 14 днів тому

    Something I don't understand. If your entire retirement savings went into your home you can't spend that without selling it. So everything else is paid for by social security? Social Security benefits can't cover everything else, especially if you haven't paid off your mortage. Oh! I hope people are planning on home equity loans to pay for expenses in retirement. Reverse mortages???

    • @Summerdee223
      @Summerdee223 14 днів тому

      That is why many people downsize in retirement (to free up some of the equity and because they no longer want or need the larger home expenses and upkeep). Some also sell several years after retirement and use the funds to pay for a senior living type situation. And yes, some do reverse mortgages.

    • @Summerdee223
      @Summerdee223 14 днів тому

      Also, you always want/need to put some of your earnings toward retirement whether you own or rent. This should be part of the decision when figuring out a budget for a home purchase. It is extremely hard right now with home prices, but it can and must be done.

  • @gogomike3012
    @gogomike3012 14 днів тому +3

    Tenn is booming because are the new data centers that need to built and they have space

  • @keithpalmer4547
    @keithpalmer4547 14 днів тому

    Obviously.

  • @mpetersonification
    @mpetersonification 14 днів тому

    Hello, from Loganville, Ga (45 min outside of Atlanta)

  • @Summerdee223
    @Summerdee223 14 днів тому

    40 and under community. How would that work? Do you have to sell your house and move out when you turn 41? LOL FYI, I have a feeling this would be illegal and considered age discrimination. Discriminating against those 40 and over is illegal in the US for employment and would likely be the same in housing.

  • @markbaker8607
    @markbaker8607 14 днів тому

    my name is Mark Armstrong Baker.

  • @bobbissell2910
    @bobbissell2910 14 днів тому

    Vote. Credit is bad people a re maxing out cc. Economy is bad. Please. Grocery has gone up 40 percent . I could go on but I’ll shut up.

    • @reneelibby4885
      @reneelibby4885 10 днів тому

      I'm voting to save Democracy. I'll shut up.

  • @user-by7ti1fc7f
    @user-by7ti1fc7f 14 днів тому

    Everyone loves the new immigrants but nobody ever seems to have figured out they have to live somewhere. POOF went what few cheap houses are left in the entry level. Future in the US looks an awful lot like what exists in Canada today. We are probably 3 years to get where they are today

  • @walisiddiqui3798
    @walisiddiqui3798 14 днів тому +1

    Wali Siddiqui from los Angeles. Home prices are so high and people can’t afford home. Where this money in coming from Jackie

  • @nicholasmcvety9644
    @nicholasmcvety9644 14 днів тому +1

    oohhhh. POOR RICH 180K COUPLE! WA WA. AT LEAST YOU GET THE CHANCE RICH PEOPLE. TRYING BEING POOR!

    • @reneelibby4885
      @reneelibby4885 10 днів тому

      I'm sure they work their tails off for that money. Improve yourself, don't live on jealousy. That's hard earned money- not trust fund.

  • @DonaldTheMotivator
    @DonaldTheMotivator 14 днів тому +4

    Doing the opposite of what everyone else does usually works out for the best. Buy the home now if you’re able.

    • @jorge1170xyz
      @jorge1170xyz 14 днів тому +1

      Works with stocks, not with shelter.

  • @divermike8943
    @divermike8943 14 днів тому +3

    Joe K said something very funny and interesting. Creating 40 and under communitees so millenials won't be underbid by boomers. LOL. Would that be legal? LOL.

    • @arbur3058
      @arbur3058 14 днів тому

      Hahaha right? I loved that suggestion

    • @Summerdee223
      @Summerdee223 14 днів тому

      No, it would not be legal....unless congress somehow passed new legislation. More likely they will pass something to give first time homebuyers a leg up. They already have programs in place (FHA loans and others) and are discussing additional things for first time buyers as well as incentives for people to sell homes that would qualify as "starter" homes.

    • @Ocyla
      @Ocyla 13 днів тому

      Sure we can call it young-lining. I'm sure that won't be a problem 😂

  • @nicholasmcvety9644
    @nicholasmcvety9644 14 днів тому +1

    excuse me. millenials and gen x. people like me waiting longer than you and worked earned it more

  • @jorge1170xyz
    @jorge1170xyz 14 днів тому

    So, 24% need to brush up on their history and math.

  • @boristheamerican2938
    @boristheamerican2938 9 днів тому

    Really? What about during the early 80s when we had double digit interest rates? How about 2005 just before the bubble bursting? Think you are just clickbait. Happy fearmongering!

  • @kimberlyjones4534
    @kimberlyjones4534 14 днів тому +53

    I’m favored financially with Bitcoin ETFs approval, Thank you buddy. $12,000 monthly profit regardless of how bad it gets on the economy.

    • @Ronnie-misho
      @Ronnie-misho 14 днів тому

      Same here, I believe the Bitcoin ETFs approval will be life changing opportunity for us, with my current portfolio made from my investments with my personal financial advisor 1 totally agree with you

    • @JaneWhitney-pp1mn
      @JaneWhitney-pp1mn 14 днів тому

      YES!!! That’s exactly her name (Audrey Lauren ) so many people have recommended highly about her from Iowa

    • @Estela543
      @Estela543 14 днів тому

      I’m a long term investor, I withdrew my profits of over $61,000 during the COVID 19 pandemic ….

    • @marycarter9830
      @marycarter9830 14 днів тому

      She is my family’ personal Broker and also a personal Broker to many families in the United States, she is a licensed broker and a FINRA AGENT in the United States…

    • @sarahjonh6179
      @sarahjonh6179 14 днів тому

      A lot of people still make massive profit from the crypto market, all you really need is a relevant information and some < professional advice. ‹ it's totally inappropriate for investors to hang on while suffering from dip during significant

  • @Fred80126
    @Fred80126 14 днів тому +1

    Don't forget SPAM!

  • @bobbissell2910
    @bobbissell2910 14 днів тому

    It’s going to hell. Plz vote.

  • @mrshiney2
    @mrshiney2 14 днів тому

    why is it still a hot market...because the federal reserve note is doomed, plain and simple

    • @Summerdee223
      @Summerdee223 14 днів тому

      Basic supply economics. Demand is far greater than supply.

    • @mrshiney2
      @mrshiney2 14 днів тому

      @@Summerdee223 yes but who is making the demand? Cash is King. The new home buyer is priced out by the interest rate not the price of the house. What is driving the interest rate? Inflation which is a symptom of a failing money systems. Look at auto sales. Dealers are drowning in new unsold vehicles. Repos are climbing fast Its all collapsing on itself. Oh I know we have been here before. But they were always able to create a financial bubble to shore up the dollar. Aint gonna happen this time. There is only one move left. Print more dollars. And that is is the end of middle America.

  • @nicholasmcvety9644
    @nicholasmcvety9644 14 днів тому

    80k live on 30. save 50 + 50 ect. Oohh poor 180 couple. live on 30. 150 saved per year. 150 + 150 ect. million dollar rich boooo hooo

    • @Summerdee223
      @Summerdee223 14 днів тому

      Good for you! it's not what you make, it's what you keep. Live below your means and save and invest for the future regardless of your income.

    • @reneelibby4885
      @reneelibby4885 10 днів тому

      cool. but I'm guessing you don't live. in NY/NJ. LOL

  • @nicholasmcvety9644
    @nicholasmcvety9644 14 днів тому

    ohhh poor millenial no different than anybody else. doesnt matter your age. you work you can save just like rest own or not. but what is your income? even a factory line at someplace like gm getting 80 a year. YOUR RICH.

  • @ronpagala7496
    @ronpagala7496 14 днів тому

    Sell high Buy higher

  • @nicholasmcvety9644
    @nicholasmcvety9644 14 днів тому

    again. POOR 150K RIICCCCHH. MAN. YOU DONT KNOW NOTNING ABOUT REAL LIFE. I WOULD HAVE A MILLION ON SAVING ALONE