WARNING: The Housing Market's About to EXPLODE in 2024!
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- Опубліковано 9 чер 2024
- With the Fed holding interest rates steady for now, the stage is set for an interesting dynamic in the real estate market. The current economic indicators and cautious approach to inflation signal a pent-up demand that's likely to heat up the housing market as we head into 2024. It's a pivotal moment for buyers and sellers alike to strategize for the coming shifts.
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Ryan Serhant is one of the most successful and well-known real estate brokers in the world. After a decade leading one of New York City’s top-ranked real estate teams, he founded SERHANT., the first brokerage designed for the marketplace of tomorrow. In addition, Ryan is an entrepreneur, producer, public speaker, bestselling author, and star of multiple TV shows.
SERHANT. Studios is an in-house marketing arm and production company for Ryan's real estate and television endeavors. To date, content produced by SERHANT. Studios averages over 100 million impressions per month. The media arm has helped grow SERHANT. into the most-followed real estate brand in the world through Ryan's UA-cam channel, the Facebook Watch show Unlocked, and the first-of-its-kind real estate media network, LISTED.
Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.
The housing market in 2024 poses difficulties due to uncertainties about the Federal Reserve's ability to curb inflation and reduce borrowing costs without adversely affecting demand for assets like homes and automobiles.
Consider shifting from real estate to stocks during severe recessions. While market volatility presents short-term trading opportunities, it's crucial to approach with caution. This isn't financial advice, but investing during such times may be a strategic move, consider adopting the services of a financial expert.
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
Vivian Carol Gioia maintains an online presence. Just make a simple search for her name online.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
I’m in Michigan and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.
*@mellon-wrigley3* That does make a lot of sense, unlike us, you seem to have the Market figured out. Who is this consultant?
Gertrude Margaret Quinto, is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Of course, all markets are different. But, we still have an economic reality which is that the average person can’t afford the average house, even with lower rates. Plus, consumer debt is at an all-time high. That would lead to more stable prices, not a huge increase.
Or, this would mean a mass amount of defaults. Debt-to-income means the debt is already there.
Have you ever heard an agent being negative about the future real estate market? Never listen to them.
As I read through the comments all I hear is negativity and whining, this is a clear indicator of TWO things: 1. Ryan is on the right path (more haters = more growth) 2. Nobody who is focused on winning spends time boo hooing in the comment section. BEST OF LUCK all!
Up here in Canada we are feeling a lot of similar trends that you mentioned. Our market is heavily influenced from what happens in the US, so the fed holding their policy rate, likely will lead the BOC to do the same on our next announcement. I'd anticipate by mid 2024, we will start to see some rate cuts... and when that happens, that pent up demand will get up off the fence and start buying more.
Rates just went up 7% on February 15th
The unemployment rate is low because many people might need to take a couple of jobs at the same time to cover the higher living costs due to inflation. Does that mean the buyers have more room for their housing budget?
I heard it's a fake number and that's actually closer to 25%. You can't believe anything these days.
Bogus...you hardly show any real sources and graphs. If anything, housing market is set to crash this year. Dude it doesn't even make sense most people cannot afford $500K tiny houses and some of the buyers will almost guarantee default once layoffs begin.
Never trust Real Estate Brokers for predicting the future of the housing market. A more reliable indicator of a return of the housing market is when the sellers price their home correctly which will be more closely to the 2019. With the interest rate a bit higher I would suspect people who bought in the 2017 - present will not be able to break even for a couple of more years. The other shoe to drop soon is the commercial real estate market.
I would not make any decisions until after the middle of the year. The FED is not going to lower rates in March but I think the sh… will hit the fan if they dont lower rates in June. Mortage rates already back up to 7%. Inflation is proving to be more sticky than expected. I think making predictions is a fools errand. Cheers!
Watch that job market. Placebo effect from bogus jobs data needs to last long enough for fed to stabilize inflation. I think most asset markets are not giving the difficulty of this task the credit it's due
No one knows what's going to happen six Months from now but one thing we do know is that time will Tell.
Let's hope we have a somewhat normal spring market. Here in Canada, we haven't seen that in 4 years.
Day later market crashes inflation getting worse not better. This year will suck until Trump comes back next year assuming they don’t take him out first
A piece of feedback, based solely on my opinion: please don’t put shorter subtitles. Use longer pieces of the ongoing sentence. Otherwise, they become distracting. I know it’s trendy, but it’s kind of annoying…
Does it really matter on the $10M house that your clients buy ow sell?
What brand is that suit please answer
I have a feeling this video won’t age well, with inflation still high.
Rates are climbing because the money that funds the housing market has realized that rate cuts are not coming until June at best maybe July. IMO by July, something major would have broken in the system. massive debt problems/defaults, job cuts, unemployment, the list could go on.
😨 The 2024 housing market looks intense, thanks for the heads up! 🏠
Toronto's market is super crazy. All of a sudden it bounced back in the last four weeks. We're seeing multiple offers again.
There is a shortage of houses in the U.S. What about inToronto?
Hi Ryan
As always, great insights and great advice for agents. thanks for sharing, Ryan!
You also have a federal government that can’t control spending
The hair is…..interesting🧐
Worst time to ever buy.
Miss the behind the scenes day to day vlogs. These videos just turned into real estate infomercials
nice :)
Same thing is happening in Mx City with US immigrants coming to city. A home that was 200k dlls 5 years ago, now it’s 1M. Freaking crazy when min wage is 15 dlls per day
Yup. There’s no other way for it to go, unfortunately - too much money supply and overall inflation and even wage and salary rises. Homes are still (marginally) affordable. Get in while you can - the US will become a Canada soon.
I am impressed by Ryan's ability to see clearly through the clutter. He's short and succinct. However, I miss them all in this video. That's okay nobody can be the same all the time.
I wish. So do you. But I’m betting housing TANKS like never before
Explode for worst not good . People can’t afford how many new housing developments in east Phoenix area that just stopped building once they r on 500-600k they sold well before COVID and after now they can’t even finish the developments
That would explain why a flipper was going around my WHOLE neighborhood and talking with people and handing out pamplets/flyers about buying houses to flip.
Community service, allowing the neighbours to be the next flippers. How wholesome.
It doesn't explain anything the housing market will crash this year, inventory keeps piling up in many places and nobody can afford anything, once layoffs kick in many will default and we are back to 2007.
Just tell me up or down
Bad cpi today.
Have fun locking in 7% interest on your home.
Leap year means nothing
Or maybe realtors might need to look for a new job
Other than the value of the content is impressive, your presentation skills are way above par. Very jealous!!!
I don't care about the market bc I have no money, but I also have no money worries. Is it tru blondes have more fun ?
The hell happened to your hair
America 🇺🇸 loves 🥰 Hyper Inflation 💸 and will continue to print money 💵 and lower interest rates until the US 🇺🇸 Dollar 💵 collapses ! The American 🇺🇸 Government loves 🥰 Hyper Inflation 💸 so much that they want the prices of everything to rise until the US 🇺🇸 Dollar 💵 is worth nothing ! Print ! Print ! Print ! Ha ! Ha ! Ha ! Hilarious 🤣