Prepare For The Biggest Event In The Last Decade
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- Опубліковано 26 вер 2024
- Ken McElroy explores the current and future landscape of the real estate market. He highlights the significant opportunities and challenges in the coming years, including a predicted shortage of 5-6 million housing units, the impact of fluctuating supply and demand, and strategies for capitalizing on market disruptions.
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ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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Ridiculous America will be renting forever, the yield on bonds have decreased especially on the long end (30 and 10 Y) indicating that the demand is still there even if the supply remains huge showing a preference for safety. I'm still at a crossroad regarding whether or not to liquidate my $138
Find quality stocks that have long term potential, and ride with those stocks. I have found it takes someone who is very familiar with the market to make such good picks.
There's no housing shortage , I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Please will you be kind enough to share the details of the analyst that helped you?
Actually its a Lady. Yes my go to person is ‘LAURA GRACE ABELS’ a easy and compassionate Lady. You should take a look at her work.
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.
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Yes I concur, I've been talking to an advisor for long now, mostly because I lack the knowledge and energy to deal with these ongoing market circumstances. I made more than $220K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having an investing counselor is now the best line of action, especially for those who are close to retiring.
@@mikegarvey17That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
'Gertrude Margaret Quinto' maintains an online presence. Just make a simple search for her name online.
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.
With Banks at the risk of failing it could be an indication of an economic Recession which could be devastating .I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I have about $225k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at dividend paying stocks instead?
excellent share, just copied and pasted Karen Lynne Chess on the internet, spotted her consulting page ranked top and was able to schedule a call session. Ive seen commentaries about advisors but not one looks this phenomenal
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
I suggest you offset your real estate and get into stocks, A recession as bad as 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..
The same happy talk I heard right before the 2007 housing crash.
Except it didnt really crash. Bankers were rescued. Housing prices went down a bit but nowhere near the old levels that can be afforded in 5 years and one salary ( let alone my parent's time levels...)
Right...However, the fundamentals weren't wrong, the sentiment was. You can see that the market recovered from there and went off the roof making it unaffordable for a lot of people including me.
Real state and stock market climbed very nicely from 2009 to the present time.
Yup. Hes most likely heavy in real estate and wants to keep people thinking prices are going up so they keep buying. Hes delusional and wrong.
All of the real estate investors I know who bought in 2007 through 2012 are millionaires now. Just say'n
There is no housing shortage if anything there two many and the problem is folks can’t pay 3000 to 5000 a month for a house or rent payment because the numbers don’t work people can’t spend 60/70% of what they make on a place to buy or rent , currently wages simply don’t support payments that high
there is too much speculation and fraud.
Yup all rigged
what about the massive inflow of immigrants coming into the US? Last year 2023, over 3 million illegal immigrants entered the US and just alone in the last 43 days, 1 million illegal immigrants have entered the US, that's over 23k immigrants everyday. Where are they going to stay at?
My point exactly there is no upside housing is still overpriced
I'm confused. If there wasn't a housing shortage, then landlords couldn't demand $3k to $5k for rent. If there wasn't a shortage, which is what you are suggesting, then renters would have more homes to choose from and landlords wouldn't be able to ask for such high rent.
Housing shortage! 😂 Inventory keeps piling up, and new development inventory keeps adding to it. New developers have been caught reporting lower inventory than what they actually have. They might report 10 house available but when you go to the development they actually have 80 houses. Also, some developers are stopping construction at 90% completion to avoid paying higher taxes on a finished home thats going to sit on their books for long periods of time. In other words, developers are manipulating the numbers they report to make it seem like there's a shortage. Everything is in a bubble now, credit, stocks, car market, loans, and housing. Not to mention, full-time jobs are rapidly declining while part-time jobs are lightly increasing.
plus don't forget the 20 million homes hitting the market over the next decade and half as boomers pass.
How can single family homes not be in a bubble when values appreciated 50% in 2 years?
It’s not house appreciated. It’s the currency that was depreciated and all assets increased in price not just housing. It takes few years for wages to catchup. This is very common in rest of the world. Probably US folks are experiencing it first time in their lifetime.
Wages have been going down for decades. And not all assets went up. Free money was a scam. Federal notes are a fraud.
@@KunalBalani It is both. Cost of everything went up but house went up much more than the rest. There really is a bubble, at least in some countries.
They added 40% to the supply of USD from 2020-2022. Houses went up 40% during the same time period. Coincidence? I think not
The 30y mortgages essentially locked in prices to go up higher at 3% throughout 2020. Now owners sit on the mortgages and wait for inflation to eat it, removing supply. They'd be absolutely dumb to sell the houses because rates are not going to zero again.
At a certain point, inflation is not going to go down, and people will adjust to higher prices. We were all millionaires in Poland at certain point in history.
by adjusting you mean multiple families in the same house?
"Some markets may fall" is the new narrative.
Good Works Ken❤....One point to clarify this, the wealthy do save up enough to buy their next assets. They do not save as a means of building wealth or as a retirement strategy...
The rich see economic crisis as a garage sale, that’s why investing right now will be the best decision
BITCOINS: IS ONE TRUE DEMOCRACY THAT HAVE EVER EXISTED IN THIS WORLD❤
the truth is...there is no housing shortage.
Yup, artificial supply and demand
Share where you are getting the data
HAAAAAAAA. Maybe if you kids stay in your parent's basement.
Tough words won’t make you really tough, but most time the opposite.
There most certainly is in my area!
Tampa has gotten crazy, 900-1200 sqft homes priced at silicon valley prices it's crazy.
Tight marker around twin cities, but i just don't see how prices can kerp going up without incomes going up . Not even close to equal.
Builders eventually build apartments and lower quality homes to match affordability. Single family homes will become rare and less common.
@@KunalBalani I agree about the apartments and twin homes etc. hard part around here with our climate and building codes to build an affordable starter home. Mostly 2nd tier and fancier if it's a single family.
Prices go up because the purchasing power of the dollar decreases. Look at Zimbabwe and Venezuela.
Lower interest rates. They will go down soon again.
Ken is a smart guy but doesn’t he have an incentive to say housing will always go up, similar to a realtor? Doesn’t he run a fund where he takes investors money? What’s more likely to get people to invest, telling them housing will go up or telling them housing will go down?
Would he be running a fund if he didn’t believe/know what he’s saying?
@@charlieerickson5524would a realtor be a realtor if they didn’t believe / know what they’re saying?
He's not here for your money. He's just here to educate people.
@@peterjoe5110Not all people are dumb.
@@peterjoe5110 how can you possibly conclude that? Think about it, if you’re running a multimillion dollar fund and you’re always on the look out for investors, what’s the best way to attract them? I’d argue that the single best thing you can do is start a UA-cam channel so people can see how knowledgeable you are and so others can spread the word about who you are. You don’t even have to pay to advertise your name, UA-cam does it for you for free! You just have to put in the work to make good content.
Naturally, some people are going to wonder how they can invest with someone so smart like him. Well eventually they’ll figure out he runs a fund and boom, he just gained a client. But if he says on his UA-cam channel “the housing market will go down or at best stay stagnate for the five years” that’s going to turn away potential investors.
@KenMcElroy - It is a delusional prediction to think that real estate will continue to go up in real terms. Real estate is unaffordable and will not continue to spike. To say that the demand will be there for sky high real estate prices is delusional. Have you seen the rising mortgage, auto, credit card, student loan delinquencies lately? Real estate is already over priced. Having a low supply does not mean that there will be strong demand in a failing economy.
Agreed
Thanks for the post. Your analysis seems to make sense on the paper. However, if the incomes are not going to skyrocket, who’s going to pay for skyrocketing houses or the rents?
Idk….there’s enough data showing the “shortage” is based on listed houses on the MLRS, but many builders don’t list all their available houses for sale on the MLRS, but on their separate platforms. So the numbers are underrepresented if it’s based on MLRS data. This is enough for me to seriously consider the alternative possibility that the shortage isn’t really there.
I still invest heavily into Multi and Single Family housing, but I have an open mind about the “shortage”.
It’s not clear to me that there was underbuilding post Great Recession more than there was overbuilding pre Great Recession. How do I convince myself of what the number of completions should have been?
Never own or loan in HOA. NEVER.
Why?
Prices just keep going up and consumers will magically pay those prices on 50k/yr incomes! 😂 what a joker.
The data of how many new housing units is needed is based a house is completely depreciated and evaporates after 30 years. In reality, most houses built since 1900 or even before still exist. There may be a renovation/rehab boom to bring millions of old houses into shape and on the market, because it’s a lot more affordable than bringing a new house online from scratch. In either case, buying power and living standards of the middle class keeps falling since beginning of the 1970s and single family homes may not even be the future. Multi-family units, and much smaller units than they used to be, plus heavily subsidized by the government may be what’s coming
See how the narative is changing from :Housing Bull market forever, to flat prices, to maybe some price declines to greatest buying opp coming? This time is not different
It’s different because you are expecting it this time
@@alexmack956people don't expect it though. They think it's a "strong economy" and "resilient labor market" with a "soft landing" thanks to the media's same lies as last time
@@alexmack956lots of people expected it last time, but they weren't commenting on social media about it. I wrote a college paper on the upcoming wave of foreclosures before 08
RE markets have become highly bifurcated. Yes, the 95% of locations that 5% of people want to live in will continue to get walloped. But the 5% of locations that 95% of people want to live in haven’t even crashed yet, and they may never. As a buyer, I hope I’m wrong about this, btw. 😢
Thank you for allowing us young bucks to learn from guys like yourself with much more experience than I do, for FRER!!! I’m 34 and only own 3 properties. Started with 6k (which at the time seemed like a ton of money) and have turned it into about 500k in equity and been cash flow positive with insane margins since day one. Thank you brotha!
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance but if you want to make your money work for you...prevent inflation
One point I do not see discussed in this cycle is the prices of commodities during these cycles. The LOW price of commodities during late 90s and early 2000's added to the rapid building of housing that took several years to flood the market adding to the crash.
NOW we see near record high commodity prices. Combined with high finance rates and builders who fear a 2008 repeat?? The shortage will continue 15 to 20yrs at minimum
I disagree with you Ken, as someone who owns MF, people are doubling and tripling up. Also people can’t afford class A now and definitely not in the future.
MF needs JOBS, 90000 good jobs loss last month.
Oh Kenny, where oh where is the wage support for "massive" increases?
I recently finalized the purchase of a new construction home north of Denver, securing a 4.25% interest rate along with $22,000 in incentives. Given Denver’s challenges with migration, there’s a growing trend of relocation to the quieter, rural cities both north and south of Denver. Supporting this, our new neighbors include a family relocating from Cali, and a Denver police officer has settled two doors down.
Prices need to come down by 40 percent! I will never buy another house, especially with interest rates the way they are!
Fascinating insights! The explanation of the supply-demand dynamics and how they're set to explode in 2024-2025 is particularly eye-opening
Realto in SW Florida here. Inventory is high! But there a ton of great deals for income producing property. Rental demand is high.
Focus on two key objectives. Learn when to sell stocks to minimize losses and maximize gains to start protecting yourself. Second, prepare to make money when the market turns around. I advise speaking with a broker or financial counselor.
The problem is: The price of property is way to expensive in Big Cities to build anything.
Mixed-use multi-story development built within a five minute walk from mass transit lanes radiating out from the center of the city parallel with roads out to the outer belt.
What started all this is low interest rates and relaxed lending. They have been building like crazy for 10 years how could there be a shortage? Rich Illegals?
Single people: learn how to live in your vehicle. Save your money. Watch the prices fall
People can’t afford a home or rent now. How will they afford even higher rent?
Get a second job, get roommates, move to a smaller place, move to a bad neighborhood, etc. etc. etc.
What the other guy posted. Work more to get less in return, ad naseum. The people who run this joint are not your friend. “It’s a big club. And you ain’t in it.” 😂
It's time to consider moving back with parents, siblings......My friend has just cleaned up the garage and put in windows, ventilation unit and better flooring for his son to move back!
Roommates
He's absolutely giddy about upcoming "massive, massive" price & rent increases. That's DISGUSTING. Housing is human right, not a profit opportunity.
Florida is done with move-ins. People are now leaving Florida: it’s too expensive, incomes are too low, and insurance impossible expensive.
Great insights Ken. As always
How these housing shortage topic never popped up prepandemic if it is a shortage for the past 15-20 yrs
because it's the only bullish sign they have to cling to when there are 1000 bearish signs
Its smoke and mirrors. Rhe low rates allowed more than 6million homes to be gobbled up and become slightly lived in. Vacant, 2nd homes and airbnbs. Had rates never gone below 4%. We'd have 6mo supply and houses would be 20% less in price.
According to a report from MetLife Investment Management in 2022, within a span of just seven years, up to 40% of single-family rental homes could be owned and controlled by Wall Street entities. This situation could potentially present challenges not only for regular renters but also for the broader economy.Aug 19, 2023
What a weird market weve been in here in Idaho. Expensive stuff still trading with rates sticky at higher levels.
Some cities in Idaho still have lower median house prices than those in California, Oregon, and Washington states. The "low cost of living" (low wage) states are going to have outsiders with money moving in. Too many bargains.
Most people miss it but the secret to living retiring comfortably in Australia is finding a way to make returns while your money works for you. My Dad, as i remember started saving for retirement quite late but I know he was making more than 10k returns from his investments monthly and it was completely passive.
This is amazing, I'm curious, how did he do it?
Was it real estate? Or he was a market enthusiastic?
Haha, investing enthusiast? Not really. Our family got introduced to a financial consultant about four years before my dad retired. That was what changed things, and I think my retirement will be on the right track.
Thank you for great content. Your videos of you alone are much better because you have so much knowledge and credibility. The ones with your wife seem like she is in command and you just agree with her, which I know is not the case but the way they are done makes them look that way.
Affordably is the bottom line.
Ask the retirees in Florida who's insurance has doubled and tripled, or has been cancelled.
There is no law that requires homes to be affordable. College and retirement were once affordable, too, but now, like an owned home, those are luxuries reserved for the richest among us. In case you haven’t realized, the ruling elite of this country have zero issue with homes or any other aspect of life being unaffordable to most people out there. In fact, they don’t merely have zero issue with it - it is precisely their goal. Billionaires want a nation of slaves to provide cheap labor to their companies. Unaffordable housing is a very effective mechanism for them to accomplish that end.
There's always this imaginary housing shortage at tops.
Just crazy talk..... There is a three unit flat in my area and owner asks for $1,800 for each unit. Guess what? Only the basement unit is rented ( probably for less) and the other two are vacant for about 4 months now!! These owners have no shame and are overtaken by stupidity, plain and simple........
I live in one of the fastest growing counties in America in Central Florida. There are three new apartment complexes opening this year within 2 miles of where I live. And countless new home subdivisions.
There are plenty of houses for sale in my area but they aren’t worth the price they want for them.
I dont understand or comprehend how anyone will be able to afford higher priced homes or rents it doesnt add up considering wages, i make 150k-200k a year and it doesnt make sense making a payment that is almost 40-50 % of my monthly income
Mixed-use multi-story development built within a five minute walk from mass transit lanes radiating out from the center of the city parallel with roads out to the outer belt.
Ken would you wait to see what would happen in 2024 or would you pull the trigger now and buy in 2024?
Hi. Your market explanations are great. I've learned so much. But I do have a question. How much higher can rents go if the renter only has so much money? Sure I would love to raise the rent to 50k a month for a 1 bedroom apt. There's a mismatch of target market. Any insight would be much appreciated . Thank you
Why the demand will keep strong with a high interaste rates?
We could see an end to the fed, and more free markets, except it negatively effects real estate owners and those in the managerial class. They like the red tape, it keeps their assets and pay rates high, especially if they work for the state.
The truth is people can't afford homes as it is. Who is going to buy? The truth is the recession is coming, a lot of people will lose their jobs and the foreclosures will sky rocket. We are in a downturn for next 5 years. IMHO, not a financial advice
To buying the dip!
We grew up in California. We fled California in 2017; sold our business, sold all our rental properties. Moved to one of the "no state income tax" so-called "red" states.
Right now is tax season, and this is the sixth (6th) year I do not have to pay 13.3% state income tax.
California has lost so many high earners, they raised it to 14.4% now.
LIFE IS SHORT. DO *_NOT_* fear a relocation - it has been a massive, massive blessing, our new home. Some of these hardcore 'lefty' states are very poorly managed; and there is NO REASON you have to subject yourself to it.
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which bank do you like using for your refinancing?
He likes zero banks. He uses other rich people's money. He finds doctors and lawyers that want to invest in something solid.
Hey ken McElroy, I wonder what you think of the Australian market. Here in Australia, we have a heavy undersupply of rentals, so much so that rent has gone up 50 percent in some areas in a matter of months. We are entering a rental crisis amid a global financial crisis at once.
Only problem most people loosing purchasing power. So how this will happen?
It won't...
Awesome video! A lot of good information.
Those commercial real state will be transform in residental properties probabbly
One problem with your thinking is; young people are not marrying, they are not having children and living with mom and dad in the basement. the second problem is young people can not afford to buy a house or get married. See the problem?
Well done, Ken. I think this is pretty spot on.
Im sitting on the sidelines cash in hand waiting to pounce.
I think market will adjust to demand, rich people just want to leave in rich neabors. Many people cant afford anymore living on this areas beacause rents are going higher and higher so they will be force to move cheapper areas and new suburbs will born. So the old expensive areas will remain expensive but with difficulty of a slow market to get out because you always need someone with more money to buy your house... So in the end those old houses will be bought at a cheapper new level and will be remade for new houses. The winners will be the new areas where have future not the old ones
Very helpful Thank you for sharing
Arkansas is #4 acccording to United Van lines.
For me as a landlord, 2008 - 2012 were great years. Before that, nobody wanted to rent because they could buy with nothing down and
virtually no documentation of income. Then came the crash and I had applicants lined up around the block. Rents went up and vacancy rates plummeted.
I realize he is an expert but there are plenty of homes, prices are ridiculous, there are no buyers. He's either really wrong or he's purposely misleading viewers. He may be right for other reasons.
What a fantastic synthesis! My mind is reeling.
As for the trolls. There is no shortage? Really? Millions of vacant homes from a national perspective fails to acknowledge areas of contraction suffering from outmigration, which Ken has thoroughly examined. The homes are needed where opportunity and growth exist. Ken has spoonfed this information to you.
What's the benefit housing hasn't dropped interest rates high maybe for people that have money
Ken, love your work. Thanks!
You can say rent will keep going up but does not mean you will have tenants. As of now I see lots of empty units because of unaffordable rents that’s a true fact.
Exactly, there is a three unit flat in my area and owner asks for $1,800 for each unit. Guess what? Only the basement unit is rented and the other two are vacant for about 4 months now!! These owners have no shame and are overtaken by stupidity, plain and simple........
I find the idea of a housing shortage a bit odd. When I don’t know a single (fully employed) person who has trouble finding a place to live.
Seems to me the housing market can handle being a few million units short when that shortfall totals maybe 2% of the entire market.
So long as construction stays at the current level we are fine. The shortage won’t come unless lenders freak out again and construction starts sliding again.
What is happening with population migration is that people are moving from places with limited land availability and expensive building environment to lower cost land and cheaper building environments. But this out-migration to areas with lots of land means that home building in those regions is not limited and can quickly increase as demand increases. This is NOT a formula for increased home prices. Additionally, the increased flexibility from work at home allows people to move to less impacted areas. What this effectively does is to INCREASE the supply of available land.
Home prices in Florida are falling, Texas homes are abundant and prices are softening as well. His whole theory simply does not hold up.
The stock market averages are at all time highs and the economy is "strong" according to numbers. This is all propped up by government deficit spending which is unsustainable. All this needs to wash through the system and after it washes through, it will create an environment where housing prices WILL NOT rise for many years to come.
We're at the end stage where the investment people want you to buy in, so they can cash out, right as the bubble bursts.
I wanna join ur crew. Solid advice leading me to my first MU investment.
I believe it may be more accurate to take the increasing excess deaths into the equation before figuring the projected bottom line. Nobody wants to talk about it but that doesn't mean it is not happening.
Don't worry folks. Ken is happy he is going to keep raising rents but let me tell you something here. The cure for high prices are HIGH PRICES.... And prices are high enough to not being able to make a living.
Resources are finite .. land and building material. This system of needing 15M new builds a decade to subsist is deeply flawed. And we’re seeing the inflection as the average buyer can’t afford the average new build, compounded by higher interest rates. This will all have an impact on your projections.
Boomers are dying at 2.3M per year since 2021. Is population really going to keep going up that fast? They're the 2nd biggest generation at 71M remaining.
Best vid you’ve put out
What will be shocking is all the forced selling of homes once the unemployment rate skyrockets during and after this coming recession. Residential housing should bottom around 2027.
If people are moving out of California
Why hasn’t there expensively high real estate come down in price ?
Because a sucker is born every minute. Same reason your complaints to a company don't matter to said company. There is always someone else willing to put up with it.
Houses don’t go down here. I live in San Diego just went and saw crappy house built 1962 went from 730k to 785k wtf. People coming to see the house as if they’re buying candy so many people went in. Iam not sure what’s happening in SD.
As Wayne Gretzky once said, you need to skate towards where you think the puck is going, I believe that’s what Ken is saying in this video. Glad I bought a bunch of properties in Florida back in the early 2000s.
You were upside down in 2009-12, now your insurance and taxes are eating up most profit.
@@networth00 not really, I paid so little back then (compared to now a days) that taxes and insurance is not really a problem.
Everything goes up except wages... ridiculous
Wages increasing gives them a reason to increase other things to justify it.
@@ballsdeep420x so what's your solution Einstein?
You did not mention the part played by most local governments. Building permits are getting harder to get due to constant revisions or even tightening of ordinances. Those are also crucial interferences to the market. Besides, developers have been building bigger houses (>2,000 sq ft) that have added to the unaffordability of properties. (Unlike the 60s, most SFH are 1000-1200 sq ft built on standard 6000 sq ft lot in most cities of California.) When home prices skyrocketed, the ultimate beneficiaries are governments since property taxes get reassessed and jumped higher and higher!
this doesnt take into account population decline and inflationary factors
And how will people be paying for these in a few years?
Every year. We speculate. Read the articles from the 50’s 60’s 70’s etc….
Same story. Different time. But yet we say it’s different now. Every generation “it’s different this time”
Here’s the truth. Every 10 years. Real estate doubles in value. If your salary doubles you’re still in the same place right? That’s the thing. “I can’t get ahead” why SHOULD anyone think someone owes them to “get ahead”?
Nobody owes you anything.
so by this logic the rents and home prices will jump again...but who would be able to afford such high price? People are being out priced on every corner.
prices are down 15% from their peak and keep falling.
With rates expected to stay higher for longer this will continue
Prices are at all time high for January and February..
“You will own nothing and you will be happy”
There's initiatives in place now to convert office space to residential
It’s an election year. Interest rates are likely to go down. Hasn’t the Fed been giving these signals? I realize inflation data is manipulated. However , the Fed has d as most reached its target I believe.
How does the average person pay their rent when prices skyrocket? The backbone of America is barely holding on. I don’t understand.
"You will own nothing and you will be happy " Klaus schwab at WEF