You’re right Christina! It doesn’t help when people keep buying into the high prices of the homes it’s up to the American public to stop buying!! take back that control🤪
I'm not one for government control. However there has to be a law that prohibits big corporate to monopolize and control housing which is exactly what's happening now. There needs to be a cap on how many houses they can purchase in a set time frame. It can be based on interest rates. Rate low, limit to 10 houses period. In my area a huge tech giant, hint Eve bit one...purchased 185 single family units in one swoop. I compare this to Walmart going in a town and running ALL the independent stores out. That is a monopoly and should not be allowed. I'm all for capitalism not for monopolistic greed. Yes this contributes heavily to today's affordable housing. So my solution is not so much government building affordable housing using my tax dollars but limiting the big corporations dictate the market. Another easy solution to affordable houses is stop this cost spike nonsense and let commerce flow freely. Materials sitting in Port 10-19 days!?! Fake shortage. Its totally wrong and unethical. I love your channel Kristina. You've taught me much. Please keep whispering knowledge.
@@peppersghosttheater tax credit affordable housing can work for rentals. They have done it in the past and they can do it again. It just takes enough loud voices to legislators to make it happen.
Numerous ways to resolve this issue, but it will be hard to adopt the necessary changes. Reduce red tape and regulations (except for safety). Relax city zoning to allow more residential buildings. Reduce property taxes to lower costs of ownership. Put limits on litigation against homeowners and HOA's to lower insurance premiums. Restore our manufacturing base to be less reliant on foreign products. Inflation on foreign products and shipping are up over 10%. Would be much better to pay our populous instead. Stop "helicopter money" to those who aren't deserving. Pay politicians for good results, not promises. Throughout US history the govt has relied on Americans to create and provide housing for its population. They've done so by incentivizing investors to build and then build even more. These incentives are being attacked by removing/limiting the 1031 Exchange, stepped-up basis and increase to capital gain taxes. This will send prices to the moon, and reduce inventory. Eventually, almost everyone will become a renter, not an owner. What good is homeownership when we lose the ability to pass on the fruits of labor without huge taxes to those we love? Keep up the good work 👍
I know cost has gone up a lot over the last year in my area but rent has more than tripled. I don't know anyone who can afford to pay over $1800--$2,600 rent on just a one or two bedroom. It's absolutely crazy.
@@lisaclark6977 Why would anyone pay that much in rent or a mortgage to live in Alabama of all places? There's nothing there. What is driving that kind of increase? Who is moving there?
Investors are also snapping up available homes to use as rentals. They are adding to the BS talking point that people "want" to rent as opposed to owning
Maybe just live out of our cars and look for off grid solutions and consume less. I guess at the end of the day with the weather going crazy, just wait for nature to destroy the houses. I mean if it isnt yours, don't worry about repairs, just leave.
I’ve noticed and you are not crazy, this is definitely unsustainable and why homelessness is beyond control. Sad I too feel trapped in my current situation and I don’t know how to overcome it, I’m tired of this country selling us out to highest bidder. 😞
I would love to see lawmakers do something about all these foreign investors and mega corporations that buy up all the housing too. There should be a limit.
Yes, I wish so much that our government cared about the regular people, the working class, and the poor. If you are already in a home you are going to be okay maybe, but those who are not have a hard lot. I'm so sad and frustrated about this! I don't know the solution but I wish one could be found. Great comment.
Wasn’t Trump the culprit according to news and social media? What are these Democrats in power doing for the people? It seems their aim is to make this country like CA and NY: expensive and unsafe. Also, is it a coincidence that we are experiencing conflicts around the world just like during Barack “Drones” Obama’s term? Trump really had very powerful enemies indeed.
Tried to buy 2 houses and got outbid on both of them. Ended up renting a house. If the market doesn’t “correct” in the next year I’ll be going back overseas.
I know what you mean. We are now looking for plots of land to purchase an affordable mobile double wide home. There are plots in my area as low as $13K.
@@lbu9542 I'm in a rental property and I pay well over 1300 a month for the area and amenities (hoa community pool, tennis & basketball court) I guess that's ok but I'm almost positive that rent will go up when it's time to renew my lease in September
If you can't buy now then work 2 jobs and save up for a down payment later. Your time will come so be ready when opportunity knocks. Stop eating out, budget tightly, work as much as you can and crank that income into savings so you'll have an impressive down payment. Set your intention to be a home owner and get that energy flowing in the direction of your focus. Create the momentum now for home ownership.
George Carlin got rich because of capitalism. If people weren't working and making products then people wouldn't have the money to go to his shows 🙄. Entertainers need fans for profit
@@chesshooligan1282 You mean the American government beats the Venezuelan dream. They put alot of sanctions on them. At the beginning of the pandemic they deployed a massive fleet of destroyers and aircraft carriers to blockade Venezuela.
I saw some people getting around this by building a metal structure that had electricity and septic tank. The people parked their rv in the metal building and lived in it for two years till they could build.
@@samsondog2182 thank you! I own a home in Austin but I also own land in Colorado. It states no rv’s and homes have to be 650 sq ft and up. I am wanting to convert a school bus into an rv so I will be working on them. After all, my land has plenty of cheap land for sale and if they’d allow people to park their rv there and use it as a home base ( or even to build a nice shed home), I think with proper verbiage that they could increase the values of the property and improve the town!
@@constancerobinson1377 Yes I saw that too. Where I was looking at land it was 800sf. Like we need laws that actually are helpful. People should be able to live in tiny houses and rvs.
I’ve worked in construction for 40 years in Central Florida. There was never an over abundance of housing here in 2007 08. The surrounding 4 to 5 counties have 4 million or so residents. The crash of 07 were loans made to people for overvalued homes just like today. I personally was offered a quarter million for 90k properties before that hiccup, afterwards they went right back to normal. Banks made a fortune and that paper was misrepresented to investors. Some loans went to people with lower scores but that is an excuse not a reason for the crash. There will be foreclosures 5 to 7 million in next 2 or 3 years. Not to mention when prices go back down to 3 to 5 percent above historical pricing the trend will be many many will choose to walk away again. 4 of these hiccups I’ve lived through, it is cyclical. It is coming.
I lived on Lake County Fl. In 2007. There was indeed an over building of home throughout Florida. Even in citrus county whole subdivisions and no buyers had to fold up.
How many times have you seen the M1 money supply increase over 25% in one year? (Refer to federal reserves own data). That is definitely causing some of the price hikes.
Yes, this is the normal boom and bust cycle of deregulated/ laissez-faire capitalism. Asset prices inflate during a bubble then the economy crashes and after the smoke clears it turns out that while everyone else was, at best, holding out by the skin of their teeth the robber barons were able to buy up huge swaths of distressed assets at fire sale prices. If this cycle continues eventually you'll see only 1% or so of the population will own everything and force the remaining 99% into permanent rentier status. Personally as a parent, this is what scares me most about my children's future. I didn't have children just to watch them become serfs.
I really do wish they would rezone a lot of the commercial properties. There’s so many areas that just sit vacant that could be an opportunity for homes
When foreigners can buy real estate in US...average American does have a chance. US printing money like there is no end to the dollar. Poor homeless elderly in this wealthy nation is beyond SAD!
I worked 3 jobs before - lived with rats and mold - paid off student loans, credit cards paid in full, earn less than 60k and I bought suckers and buying a brand new phone every year is ridiculous or a brand new car
@michael boultinghousewhen you say get rid of foreigners is that a threat or just xenophobic. Many foreigners pool their money together and it's many family members buying together and many work 12 - 15 hours a day I can't imagine self entitled americans working 60 - 80 hours a week ...gimme gimme gimme everyone owes me ME Me me
Your bigotry blinds you to reality: this isn't about foreigners, its about *money*. Having a deregulated capitalist economy means that the flow of capital, even if it comes from foreign nationals, will not be constrained by govt intervention.
I’m selling real estate out in Victoria, BC Canada. Our housing market is also in crisis. I was concerned back in 2016 with all the bidding wars but it’s reached new levels of insanity. Properties I showed only 6 months ago are now selling for $200k above the previous sale price. People are just cashing out and literally making hundreds of thousands after holding the property for a matter of months. Condos too are going $100k over their sale value last year (note the 2020 prices increased during covid. It’s been a straight increase since 2015). Locals literally are looking at 1 million plus for a totally average home that used to be $450k only 5 years ago. I feel so awful for the locals being priced out of their hometown. Just awful. This has got to end. It’s very scary when people with household incomes of 75-100k are buying million dollar+ homes 🤦🏼♂️
Sadly, the Canadian Govt. has behaved even more badly than the one in D.C. with regard to policy. Unheard of levels of debt, spending and poorly considered policies have opened the door for this craziness to flourish.
I believe most people just want affordability period! With AFFORDABLE rent to help save up and to AFFORD a home one day. If you ask me, both work hand in hand.
Charlotte , I am but people do not belive in what I'm explaining to them. Everyone thinks there is going to be a market crash like in 2008 and the property value will go down and this is not going to happen .
My dream has always been to buy a Sears home! They’re built so great! I grew up in NJ and now I live in Chicago (and eventually the suburbs) which has a decent amount of Sears home, since Sears was headquartered here so my dream shouldn’t be too far off :)
As an unmarried veteran, I've been waiting for several years for my salary to increase after returning to school, getting my degree and a better paying job, but without a second persons income, I find myself continually priced out of the market. Plus, I worry that if I buy the first thing that comes along (when I can), the market will open up, prices fall, and then i couldn't upgrade easily in case I started a family
Just keep your wits about you, man. You can do it, and you'll stay strong, and your kids will own the future, because you didn't quit. (Daughter and wife of a vet.)
@@EE-ie9gm comments like this let's me know that you've been an arrogant individual most of your life. More power to you. Now, dig deep for some humility.
@@shellroc21 People who saved and worked deserve what we have. Stop being a victim and make some moves. Life will keep moving whether you do or not. Take notice.
Kristina You can give people facts, they can see it for themselves, they will be told so by an authority, doesn't matter many in America are living not in denial but in a delusion.
I am very thankful for the USDA Rural Development program to help me buy a house through the government, no down payment and low monthly payments for the low income. No more landlords, no more laundromats, and now my own parking place. Plus I love my neighbors!
Yea, but how far are you from a hospital. In nc almost every rural hospital has been shut down. The only exception are in counties where the medium income is substantially higher then the average
I've got a very controversial solution to all of this. I think that the government has to de-regulate campers and RVs so you can hook up electrical, water and septic to RVs and live in them full time, and also de-regulate financing for them. All these renters and home buyers could live in RVs and campers, even convert them into tiny housing, and you'd see those home prices finally come down and reasonable housing return to the market. A nice camper is instant tiny housing, you don't need the contractors to set up tiny housing or modular housing or any of that.
We bought ours in 2006 for 174K. Zillow's estimate price today is 453K...that is crazy. I feel so bad for our sons and their friends...how are they going to afford a house when they're just getting out of college and just starting a job?
We moved into my in laws basement last year during the summer to help save for a down payment on a house. The plan was to only stay a year or so and then buy a house. Well now our best financial option is to stay living with them and keep saving and just wait until the housing crisis slows down and we will be set!! Saved about 30k this past year and planning to save about 40-50k this upcoming year! Although its not ideal to be living here, we are living rent free with no debt and very few bills!
@@joanfrederick9176 thank you!! It was really the only decision to make, we were renting an apartment for first 3 years of marriage not able to save much. We had our son and that really changed our perspective and had a perfect opportunity to save money quickly! I drive a beater car which is mainly work transportation.
@@pkendlers yes they are! Hard to see it sometimes because living with in laws can sometimes be too much especially with children but we are definitely blessed by them!
Wrong. Prices will stay the same. This is the new market. Home values in a lot of areas were extremely undervalued for years. This is the new normal. Millianials are in the buying pool now they are driving prices up not interest rates.
@@commoncents456 banks are holding the foreclosures because the government has protection right now . Ends in September tho so we shall see some new homes on the market early 2022
No kidding. Lived in a tent for some time, and occasionally talked with friends about getting just empty land to be able to exist on. That's what we came to dream of, at times.
Came here just to type "never" The government should find a way to force these "forever renting" companies to sell their homes to HOMEOWNERS rather than trying to force us to rent for the rest of our lives by buying up all the houses. I am fine with modular, I just want an affordable place to live that I can own when I am older. I actually LOVE the idea of the mall condos. Not only is it reusing a building rather than demolishing it, which is more eco friendly, but having all that indoor walking space is great for areas that get poor weather for much of the year. Having some shops in there as well is awesome. Imagine a coffee shop, a convenience store, maybe a small grocery store, all in the same building as you. I'd dig that. Less driving, more steps!
My husband and I just bought a house in Arkansas, however it has been a long process just trying to find one within our budget and without being outbid by multiple buyers. Our realtor literally showed us a house the morning the listing went up, and we bid by noon that day because the seller was going to stop taking offers since they already had multiple bids on the same house. It moved quick and we paid quite a bit over asking JUST to be considered. This is the most stressful time to buy, because this market is moving SO quickly. Most sellers are now REQUIRING pre-approval letters before even choosing which offer to accept. It’s a great time to sell, but an awful time to buy. What’s crazy is that the market is continuing to rise to insane numbers, and people today are starting to realize that renting may be their only option. It’s sad, because most of us just want to start building equity into ourselves, because more likely than not, we’re settling for smaller spaces, just to be able to do that. Rent is likely the same, if not more than a typical house payment and it just doesn’t make sense these days. Just my opinion. Great and informative video!
I just bought my 4th home. It is getting harder to make ends meet for sure but we sacrifice. I have kept 3 of the last 4 houses and sold the most appreciated one to buy my 4th house which has a few acres of land. I will sell another rental and build a rental on my land here, as long as 1031 does not go away. I have no retirement fund; so this is it. Fingers crossed. Every house was a home I lived that became a rental after we lived there and fixed it up over time.
Oh my goodness girl, I love you, wish u were actually able to make your options for solution to homeless crisis or unaffordable housing, it would be amazing if your ideas and suggestions came to fruition 🙏🏽💪🏽🤎🦅 ur the best! You inspire hope in the most difficult or challenging situations! Thank you!🤎🙏🏽🦅
Thank you, I am working towards getting some of these companies that make modular homes to donate to local homeless communities around the country. Thats the plan!
I like your idea of converting old abandoned malls into homes. I love old mall, as I am into modern contemmporary architecture, and I have taken photos of old malls in the past. Call me crazy, but I had always wanted to live inside of a mall.
Five factors driving the high cost of homes: 1) Record low supply on the market 2) Near record low mortgage interest rates 3) Record high construction costs 4) Moratorium on federal-backed mortgage foreclosures 5) Record high home equity - debt of $10 trillion
and the FED is STILL buying up mortgage backed securities like it is still 2008 keeping real interest rates near zero..I would rather pay 200k for an median home and pay 5.25 percent...prepay the mortgage over time and own free and clear in 10 or 15 years
For Sale by owner can save 7% off the sale price!!! In most States you can get everything done by the "Title Company" for like 250 - 500 Dollars and have a Attorney look over the contracts if so desired... You can get listed on the MLS thru an Online Service by Reputable Services, show your own property (which is all the Real Estate Agents do, except have those Waiver's signed the video speaks of), AND save THOUSANDS!!!
My father bought his first home a cap cod for 40k back in 1980. He made 20k per year so his first home cost 2 years salary. That same home he bought sold this year for 175k which is the same cost as my first home. Since I make 40k this is more than 4 years of my annual salary.
To many of us "modular" is equivalent to trailers. The home is built inside a factory and then transport it to the site. Generally these were lower quality without a corresponding lower price. The main selling feature was speed to completion particularly in sparsely populated areas.
I see this discussion all over the country, but I can't relate. I live in rural Georgia and there are large beautiful homes for under $200k. We just bought an 1800 sq ft, 3 bedroom 2 bath on 5 acres for $135k last week. Moving to another state can be expensive, but there are still many areas in this country that have very low cost of living. Granted, income is lower here as well, so the problem we're having is people from New York and California snatching up the houses here.
I completely agree with you that people are not wanting more available rentals, they want ... need more affordable housing. I also agree that something needs to be done to stop corroboration from buying up whole subdivisions. I’ve been looking for a decent house on 2 acres outside of Dallas and although prices are still very high, I am seeing asking prices being reduced.
*its crazy how much these money hogs are making the rich richer and the poor once again we’re suffering..what can we do to stop the inconciderate rippoff ever house is pending deal right. Sickening America is not the Pledge the legion or for our country it’s who can we bring in for profit housing is a money trap for the rich to put there foot in our heads again. California wouldn’t move if the housing was responsible they have to relocate to exist. Hello What’s a solution? Is there one?
In Wisconsin, I have a charming rehabbed smaller cottage: 3 bed 1 bath SFR for sale, $90,000. 730 sq feet plus large yard, detached garage and same size dry semi-finished habitable basement. Completely new wiring and plumbing, kitchen and bath. Nice neighborhood by Lake Michigan, dog park, elementary school, and on the Ice Age Trail.
Do you think this problem will end up finding its way into rural land? I'm looking at building a shipping container house in a rural area. Im worried the lots of land will be gone soon.
i agree with you, i was able to make over a mil from an initial 250k trading stocks and digital currency with professional help from an amzing lady i met at a seminar from Bloomberg Mrs Melissa Clara Bruner, best day of my life
I saw an article that said 40% of Americans missed their mortgage payment in the month of May, what is the normal amount I’ve missed mortgage payments because that seems extremely high.
I cant temporarily even rent an affordable apartment. To save for a down payment because all these new buildings with nice rentals have income limits of like 28k. Its nonsense. so I'm forced to rent at a higher rate in a house, and I'd I want an apartment it's like more than the house. To rent if theres no income limits. It's forcing us all into the same place
I wished that my neighborhood could become commercial as well as residential. I had always wanted to have a music store in my house, sell keyboards on line, teach music lessons as well as live in my own music store.
Managed to pick up an abused 2,100sqft house on 10 acres for $100,000 cash in December 2020. Needed a lot of work but the elimination of a rent/mortgage has freed up the income necessary to repair it. It will be a gorgeous home come winter but I’m eternally grateful that the opportunity fell into my lap when it did, it’s easily a $400k home once it’s fixed back up. Edit: I made the purchase at 34yrs old. House is an extremely sturdy ranch style home built in 1962. Made the purchase by borrowing from my 401k.
I'm in Marietta, Ga and this is so true. There are new builds everywhere, but NOT FOR PURCHASE, they are rental only properties, all over Atlanta and the greater area surrounding the city. Average rent starts at $1,600 and up for a one bedroom or studio.
Hopefully I get some help or an answer. I have been watching your videos. I own 2.5 acres in AZ and am thinking about putting a modular. What are the typical average costs including land clearing, grading, well, etc.
Here in Phoenix there are 4 communities being built 1 and 2 bedroom single family homes with a small yard. Each community is planned for 1,000 houses but ALL for rent, NOT for sale. Building investors see the value in rental income as housing value rises. Maybe they will sell the houses then in 20 or 30 years?? A builder sells a house and the deal is done, renting creates steady income for decades. More supplies and workers building rental properties vs homes for personal buyers.
I didn’t want to be in debt my whole life and not be able to retire. I sold my home and took the cash and bought a deeded RV lot at Chateau Chaparral near Salida Colorado. It’s the most affordable thing I could find in the entire state and it happens to be in one of the best and most beautiful places for outdoor recreation. This place isn’t cheap but I love the access to nature and the nearby towns. There are other places like this in Arizona, Oregon and Washington that are less expensive. With a deeded RV lot you can legally live on your land and you’re part of an HOA. I can live at my place year round, some places have 180 day limits. I’m so happy to be debt free and mortgage free! Ahhhhhhhh 😄 I’ll take tiny and free over a big house and a ton of financial stress any day!
New sub, loving your channel. I love houses….big or small, old or new! Thank you for great videos. Is metal framing an option since wood has gone wacko?
Around 2008, I remember every ad for an apartment was how it was luxury (later learned, a technical term) with all the latest sub zero, stainless yadda. I was thinking, in an 1850s farmhouse attic where I needed a broom to close the window behind the shower, I can live with a non-luxury apartment, where you pay me to hear your footsteps, the other half of my paycheck I would have to pay otherwise to not hear.
I love some of these solutions. Newly subbed! One way we might get a "crash" (although it's likely not systemic) is for individuals who who speculated on second homes. People who live in their homes are less likely to bail if prices plateau or decrease, but owners of secondary homes are likely less attached to their homes. The bigger problem is that we're living in an everything bubble--all assets have inflated simultaneously. Relative to other assets like stocks, homes are less pricey than one would think, despite the price to income ratios being totally insane.
@@DavidHowe-nv1nb I distinguish between goods that have use value (food, groceries), goods that have speculative value (stocks, second homes), and positional goods (education for instance). When I refer to an “everything bubble” I’m mostly referring to speculative assets. There’s some inflation across the economy, sure, but it’s nowhere near the inflation in speculative assets.
My realtor suggested new build but even the new builds are very expensive and there is little inventory. Do you think buyers should hold off on buying new construction homes too?
That’s what I’m waiting for. My builder actually was suppose to start In the fall of this year but pushed it to spring 2022. I can wait. I believe that there will be a lot of people “underwater” in their mortgages in a couple of years
SOLID!! Many broad, and great, points! Whatever the attempt at solving this is, it will never last if the current labor shortage in construction doesn't improve. Fortunately, we are not a planet ran by robots yet, so workers are still needed for most aspects of construction! For any projected solution to take root, the shortage of workers necessary to build the housing must be improved on...soon. Speaking from a former trades instructor's perspective and a construction company owner, a career in construction as a whole, is a choice that is diminishing rapidly. Thanks for the info here!
Great info! Another zoning change that would help - reducing minimum unit size. Many areas require upper-middle-class sized units (or bigger) for any new construction, which forces folks to build bigger than they want (or want to pay for)
Renting for life is hog wash for sure. It was always my dream to own and I love my home. No landlord will ever sell the home out from me or continue to raise the rent. I don’t have to ask permission to paint. The equity I have in my home is gold. Any property tax I pay still has me living in a space way larger than if I paid the same to rent. Renting has its’ window of time. I rented when I was in my twenties, when I was a student. Many seniors sell their large homes and go to renting. It is the in between people I feel bad for and hope that if it is their desire to own, that they will achieve this.
All true points made, hedge funders have come in our area and have absorbed many homes around us, once they have done that the value has increased exponentially in other areas where the seller has moved out to, purchased a home site unseen cash plus 70k more than the asking price. This has a terrible effect on those that have lived in an area where the cost of living was affordable with the economic factors of that area and now it is out of reach for first time home buyers. Trickle up poverty in effect and the poop is going to hit the fan very soon.
I feel like this needs to slow down or turnaround at some point, because as we know the market is always cyclical. But at this point it doesn't seem like there is any end in sight to the low rates and high values!
@@claudemontes that’s not true. You can put manufactured housing in residential areas. It’s local laws that will differ as well as value of the properties.
@Kristina Smallwood, I think most relate manufactured homes as single an double wide trailers, Park Models etc. Most are no longer found even in rural areas without minimal acreage. Most trailer parks in the Midwest died out years ago. Plus most who buy used don't realize doors, hardware are not standard sizes and have to be purchased attrailer supply houses. The door latches usually cost much more than conventional knows and locks. Plus secondary financing is credit card rates. Modular is the way to go. Locally we have a place called Homeway Homes that offer several models including 2 story that look like sight built homes but can be ready in about 30 days on permanent foundation. Not cheaper but quicker and price stable. Less surprise cost overuns.
You can get excellent advice on what to do, the variables throw everything out the window what you have learned. Two variables that got me are greed and corruption.
@@KristinaSmallhorn I agree. I don't care how much money you have, not important, when you come after the little money I have because your pile of money is not to your liking, then we have a problem. The business practices today are horrendous, consumer beware. I like your show, great job!.
What should you do if you have a home you can sell and make an upside of $30,000 to $40,000 but also own a piece of land in the family and want to build but can’t because it’s so high too. Would you go manufactured double wide? Our head is spinning on what to do. Or wait it out and sell later but we could make less, but could build possibly cheaper. What should we do in your opinion?
I moved to Idaho in 2019. You could buy a house for $200,000 or less. Now you can’t get into a 3 bdrm 2 bth for less then $450,000. Over valued assets. And rentals have skyrocketed yet no one is making more money. It will be short lived for sure.
I love asking these realtors and loan officers one question that no one dares to answer: how are people making 50k a year getting approved forn $400k house!? Or household income of 65k getting approved for a 650k house... Here un Cali Caliente. Eventually they started posting video of how some lending officers lie on the debt to income ratio. So how's is this different than 2008 🤣
@@sierrasky2491 oh trust me all these loan officers have done it but they just don't want to admit it on record. Maybe they got money and properties now and preach the, "I would not do that to get my clients approved" 🤣. Anyway, stay Strong save invest.. Listen to Dave Ramsey, like really listen to him
When house prices become insane, rent prices are going to be right behind them. What are we going to do when 50% of Americans can't afford a roof of any stripe?
I am having a new house built here in Fayetteville Arkansas by United Built homes out of Shreveport Louisiana and the biggest issue we are seeing is lack of people willing to do labor and contractors that just gave up and walked away from the industry, because they can't find laborers. 1,616 heated sq-ft with a 21x20 non heated 2 car garage, $224,998 including painting, counter tops, bathrooms, insulation, wiring, plumbing, doors, etc. everything except flooring and appliances. The Camden "Farm-house" style. I am paying for the septic separate and I paid cash for the land myself.
So far, from what I have seen it isn't that much cheaper. I know to keep the machines that print steadily is an issue too. I am still studying more about them before I make a video.
@@KristinaSmallhorn thank you, the only video I've seen was put out by the company itself saying for $35,000 you can build a 2,000 sq. ft home complete. It's too easy to fall for what they are saying.
*_What Is Your Affordable Housing Solution?_* To See How Corporate Greed Is Causing The Housing Crisis:ua-cam.com/video/R1DppT9lzFA/v-deo.html
You’re right Christina! It doesn’t help when people keep buying into the high prices of the homes it’s up to the American public to stop buying!! take back that control🤪
I'm not one for government control. However there has to be a law that prohibits big corporate to monopolize and control housing which is exactly what's happening now. There needs to be a cap on how many houses they can purchase in a set time frame. It can be based on interest rates. Rate low, limit to 10 houses period. In my area a huge tech giant, hint Eve bit one...purchased 185 single family units in one swoop. I compare this to Walmart going in a town and running ALL the independent stores out. That is a monopoly and should not be allowed. I'm all for capitalism not for monopolistic greed. Yes this contributes heavily to today's affordable housing.
So my solution is not so much government building affordable housing using my tax dollars but limiting the big corporations dictate the market. Another easy solution to affordable houses is stop this cost spike nonsense and let commerce flow freely. Materials sitting in Port 10-19 days!?! Fake shortage. Its totally wrong and unethical. I love your channel Kristina. You've taught me much. Please keep whispering knowledge.
@@susanmijares1212 agree, but live where while waiting as rents are off the charts also?
@@peppersghosttheater tax credit affordable housing can work for rentals. They have done it in the past and they can do it again. It just takes enough loud voices to legislators to make it happen.
Numerous ways to resolve this issue, but it will be hard to adopt the necessary changes. Reduce red tape and regulations (except for safety). Relax city zoning to allow more residential buildings. Reduce property taxes to lower costs of ownership. Put limits on litigation against homeowners and HOA's to lower insurance premiums. Restore our manufacturing base to be less reliant on foreign products. Inflation on foreign products and shipping are up over 10%. Would be much better to pay our populous instead. Stop "helicopter money" to those who aren't deserving. Pay politicians for good results, not promises.
Throughout US history the govt has relied on Americans to create and provide housing for its population. They've done so by incentivizing investors to build and then build even more. These incentives are being attacked by removing/limiting the 1031 Exchange, stepped-up basis and increase to capital gain taxes. This will send prices to the moon, and reduce inventory. Eventually, almost everyone will become a renter, not an owner. What good is homeownership when we lose the ability to pass on the fruits of labor without huge taxes to those we love?
Keep up the good work 👍
I know cost has gone up a lot over the last year in my area but rent has more than tripled. I don't know anyone who can afford to pay over $1800--$2,600 rent on just a one or two bedroom. It's absolutely crazy.
What area do you live?
@@Needglory23 North Alabama
@@natureloversadventures7335 Easier said than done.
That means you need to move. Simple as that.
@@lisaclark6977 Why would anyone pay that much in rent or a mortgage to live in Alabama of all places? There's nothing there. What is driving that kind of increase? Who is moving there?
Investors are also snapping up available homes to use as rentals. They are adding to the BS talking point that people "want" to rent as opposed to owning
Yep and they are paying over the asking price to guarantee they get it🥲
@@c.l.s5445 And then they rent for more than any normal working person could afford.
Maybe just live out of our cars and look for off grid solutions and consume less. I guess at the end of the day with the weather going crazy, just wait for nature to destroy the houses. I mean if it isnt yours, don't worry about repairs, just leave.
this is hapening where i live. Investors are buying up every single house within a day its frustrating.
If people didn’t want to rent, they would have bought the house.
I’ve noticed and you are not crazy, this is definitely unsustainable and why homelessness is beyond control. Sad I too feel trapped in my current situation and I don’t know how to overcome it, I’m tired of this country selling us out to highest bidder. 😞
I would love to see lawmakers do something about all these foreign investors and mega corporations that buy up all the housing too. There should be a limit.
Yes, I wish so much that our government cared about the regular people, the working class, and the poor. If you are already in a home you are going to be okay maybe, but those who are not have a hard lot. I'm so sad and frustrated about this! I don't know the solution but I wish one could be found. Great comment.
Wasn’t Trump the culprit according to news and social media?
What are these Democrats in power doing for the people?
It seems their aim is to make this country like CA and NY: expensive and unsafe.
Also, is it a coincidence that we are experiencing conflicts around the world just like during Barack “Drones” Obama’s term?
Trump really had very powerful enemies indeed.
@@pixelty I am still patiently waiting for Trump coming back to fix our nation crisis
@@pixelty Democrats do nothing for the American ppl unfortunately.
Tried to buy 2 houses and got outbid on both of them. Ended up renting a house. If the market doesn’t “correct” in the next year I’ll be going back overseas.
Imagine people earning less than half of the current median income.... being homeless is not that far away.
I can't wait to purchase a home but in this market I won't even look 😩
I know what you mean. We are now looking for plots of land to purchase an affordable mobile double wide home. There are plots in my area as low as $13K.
@@lbu9542 I'm in a rental property and I pay well over 1300 a month for the area and amenities (hoa community pool, tennis & basketball court) I guess that's ok but I'm almost positive that rent will go up when it's time to renew my lease in September
I completely agree. I looked into building, that's even worse.
@@Imgone2024 yeah I looked into that at 1 point also its affordable for those that have millions to dispose of
If you can't buy now then work 2 jobs and save up for a down payment later. Your time will come so be ready when opportunity knocks. Stop eating out, budget tightly, work as much as you can and crank that income into savings so you'll have an impressive down payment. Set your intention to be a home owner and get that energy flowing in the direction of your focus. Create the momentum now for home ownership.
The "American Dream" You have to be asleep to believe it. George Carlin
While they live the high lyfe
The US is not what it used to be, but the American dream still beats the Venezuelan dream hands down.
George Carlin got rich because of capitalism. If people weren't working and making products then people wouldn't have the money to go to his shows 🙄. Entertainers need fans for profit
trucker dude91, well that commit would make the most sense if George Carlin was still alive. He’s been dead for many years now.
@@chesshooligan1282 You mean the American government beats the Venezuelan dream. They put alot of sanctions on them. At the beginning of the pandemic they deployed a massive fleet of destroyers and aircraft carriers to blockade Venezuela.
Many counties around the US will not allow people to live in an RV on their own land!! This is so wrong. I hope this changes.
This is true due to old filed bylaws and covenants. Even in the most rural of areas.
Really??? I didn't know that!
I saw some people getting around this by building a metal structure that had electricity and septic tank. The people parked their rv in the metal building and lived in it for two years till they could build.
@@samsondog2182 thank you! I own a home in Austin but I also own land in Colorado. It states no rv’s and homes have to be 650 sq ft and up. I am wanting to convert a school bus into an rv so I will be working on them. After all, my land has plenty of cheap land for sale and if they’d allow people to park their rv there and use it as a home base ( or even to build a nice shed home), I think with proper verbiage that they could increase the values of the property and improve the town!
@@constancerobinson1377 Yes I saw that too. Where I was looking at land it was 800sf. Like we need laws that actually are helpful. People should be able to live in tiny houses and rvs.
I’ve worked in construction for 40 years in Central Florida. There was never an over abundance of housing here in 2007 08.
The surrounding 4 to 5 counties have 4 million or so residents.
The crash of 07 were loans made to people for overvalued homes just like today. I personally was offered a quarter million for 90k properties before that hiccup, afterwards they went right back to normal. Banks made a fortune and that paper was misrepresented to investors.
Some loans went to people with lower scores but that is an excuse not a reason for the crash.
There will be foreclosures 5 to 7 million in next 2 or 3 years. Not to mention when prices go back down to 3 to 5 percent above historical pricing the trend will be many many will choose to walk away again. 4 of these hiccups I’ve lived through, it is cyclical. It is coming.
I lived on Lake County Fl. In 2007. There was indeed an over building of home throughout Florida. Even in citrus county whole subdivisions and no buyers had to fold up.
How many times have you seen the M1 money supply increase over 25% in one year? (Refer to federal reserves own data). That is definitely causing some of the price hikes.
I will definitely agree it is a factor in a perfect storm.
@@patrickstephens8420 do you know any contractors that build pole barn homes?
Yes, this is the normal boom and bust cycle of deregulated/ laissez-faire capitalism. Asset prices inflate during a bubble then the economy crashes and after the smoke clears it turns out that while everyone else was, at best, holding out by the skin of their teeth the robber barons were able to buy up huge swaths of distressed assets at fire sale prices. If this cycle continues eventually you'll see only 1% or so of the population will own everything and force the remaining 99% into permanent rentier status. Personally as a parent, this is what scares me most about my children's future. I didn't have children just to watch them become serfs.
I really do wish they would rezone a lot of the commercial properties. There’s so many areas that just sit vacant that could be an opportunity for homes
To build a house with the building materials that went up...... no sense
World Economic Forum “You will own nothing and be happy” Large corporations getting the heads-up to build rental neighborhoods & help facilitate?
Yes, these elites are absolutely evil.
I was going to say this. It's definitely done by design.
Yes, I think this is exactly what is happening.
Corporations are trying to buy every neighborhood they can get their hands on, they are pricing out the average home buyer.
@@lbu9542 💯
When foreigners can buy real estate in US...average American does have a chance. US printing money like there is no end to the dollar. Poor homeless elderly in this wealthy nation is beyond SAD!
I worked 3 jobs before - lived with rats and mold - paid off student loans, credit cards paid in full, earn less than 60k and I bought suckers and buying a brand new phone every year is ridiculous or a brand new car
@michael boultinghousewhen you say get rid of foreigners is that a threat or just xenophobic. Many foreigners pool their money together and it's many family members buying together and many work 12 - 15 hours a day I can't imagine self entitled americans working 60 - 80 hours a week ...gimme gimme gimme everyone owes me ME Me me
Your bigotry blinds you to reality: this isn't about foreigners, its about *money*. Having a deregulated capitalist economy means that the flow of capital, even if it comes from foreign nationals, will not be constrained by govt intervention.
I’m selling real estate out in Victoria, BC Canada. Our housing market is also in crisis. I was concerned back in 2016 with all the bidding wars but it’s reached new levels of insanity.
Properties I showed only 6 months ago are now selling for $200k above the previous sale price. People are just cashing out and literally making hundreds of thousands after holding the property for a matter of months.
Condos too are going $100k over their sale value last year (note the 2020 prices increased during covid. It’s been a straight increase since 2015).
Locals literally are looking at 1 million plus for a totally average home that used to be $450k only 5 years ago.
I feel so awful for the locals being priced out of their hometown. Just awful. This has got to end. It’s very scary when people with household incomes of 75-100k are buying million dollar+ homes 🤦🏼♂️
I heard that Canada had lots of foreign investors buying homes ad driving up the prices. Is that true from what you have seen?
Sadly, the Canadian Govt. has behaved even more badly than the one in D.C. with regard to policy. Unheard of levels of debt, spending and poorly considered policies have opened the door for this craziness to flourish.
I believe most people just want affordability period! With AFFORDABLE rent to help save up and to AFFORD a home one day. If you ask me, both work hand in hand.
Yet they demand 4 baths, 5 bedrooms, and a 3 car garage. An affordable house is 900 square feet.
@@Dave-zl2ky Dude, we'd take smaller homes if they were avaialble. No one is building small starter homes. I personally would like a small house.
I can’t even find affordable rentals in my area.
@@Dave-zl2ky Even those are overpriced right now. I see them and I have one. Hoping to go up to 1200 and those prices are ridiculous.
Exactly! Out here in Portales New Mexico life is hopeless
Kristina: average price of home around $300k
Me: *cries in californian*
like 350k in cali
700k in San Diego county, like 500k in the outskirts 😩
@@flex2125 I wish it were that low where we are
500 k in northern va 😭
I know it sounds low coming from California's perspective. These are the numbers if you average the whole entire country.
It is unreal how expensive homes are getting. People need creative solutions and zoning laws need to change
Have you found a home yet?
Supply and demand , let the market adjust by itself.... when the government intervene is when everything start falling apart
when will a home be affordable again? I scanned the video but never found the answer.
when capitalism dies
Click bait!
Never
So glad I own a home free & clear right now, I can't imagine trying to start out right now!
Just rub it in our face bro... thanks. 🤬 (jk)
Cool want a cookie?
Right there with you. People keep telling me to sell and I would be rich. I am like then buy what and live where.
@@littlemissblueyes100 I have health issues and if I need to retire early at least I will have a roof over my head.
@@timnewman1172 ditto. I am a few decades from retirement! Guess my nieces can sell and be rich when I am gone.
I see a future where rentals, homes, and even RVs are expensive. They are going to make multigenerational and co living normal.
Such great information! More real estate agents should be as informed and caring as you! ❤️
Thank you so much for your comment, I appreciate that. :)
Charlotte , I am but people do not belive in what I'm explaining to them. Everyone thinks there is going to be a market crash like in 2008 and the property value will go down and this is not going to happen .
This Affordability crisis has become out of control. I can never be a home owner as a single mother. 🙄
So much for the American Dream.
My dream has always been to buy a Sears home! They’re built so great! I grew up in NJ and now I live in Chicago (and eventually the suburbs) which has a decent amount of Sears home, since Sears was headquartered here so my dream shouldn’t be too far off :)
I'd love to have one, too.
Do Sears starter homes still exist?
@@deliciaford4343 they’re all over the country.
@@deliciaford4343 yes. I’ve seen some UA-cam videos on them. Lots in Illinois. They are beautiful homes. Do a search.
So difficult to find a house in my price range, it’s insane they are all over 300 k in Pa.
Here in Louisiana too.
Try Philly. There's plenty of houses less than $150,000
@@ft9kop You mean Camden?
@@ft9kop I'm in Philly, and the only house you can find for under $150k are houses that were in a flood, a shell, or a lot.
@@TFlow040 like north of Temple University, Kensington, Frankford. They're still affordable, and normally renovated
One thing you missed: demand is boosted also by companies and corporate buyers
Interesting you mentioned that as I just made a dedicated video about this on Tuesday. The Corporate greed is real.
How many offers has the Tent received?
Is it all session ?
As an unmarried veteran, I've been waiting for several years for my salary to increase after returning to school, getting my degree and a better paying job, but without a second persons income, I find myself continually priced out of the market. Plus, I worry that if I buy the first thing that comes along (when I can), the market will open up, prices fall, and then i couldn't upgrade easily in case I started a family
Just keep your wits about you, man. You can do it, and you'll stay strong, and your kids will own the future, because you didn't quit.
(Daughter and wife of a vet.)
Buy now while you can.
Yep and the establishment wonders why no one is having kids.
Austin TX here - we bought our house in 2019, up 75%+ in last 2 years. Absolutely crazy
Hello, please Kindly Dm me.
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@@slomo4672 txt me on Signal App
We're all gonna be living in tents. Great Depression 2.0
Not me. All my 3 houses are paid off. Lolol
@@EE-ie9gm comments like this let's me know that you've been an arrogant individual most of your life. More power to you. Now, dig deep for some humility.
@@shellroc21 People who saved and worked deserve what we have. Stop being a victim and make some moves. Life will keep moving whether you do or not. Take notice.
@@DIVISIONINCISION My house is paid for. I'm not throwing it in the faces of people who are most likely looking to buy a house.
@@shellroc21 Well, yur right, I was looking to buy until prices went to the moon. Might not be able to afford a tent. lol
You can afford that house, can you afford to live there?. Taxes, upkeep can be very costly depending on size and location.
True
I like the color pattern of the tent structure there. Pretty, and affordable.
Kristina You can give people facts, they can see it for themselves, they will be told so by an authority, doesn't matter many in America are living not in denial but in a delusion.
I am very thankful for the USDA Rural Development program to help me buy a house through the government, no down payment and low monthly payments for the low income. No more landlords, no more laundromats, and now my own parking place. Plus I love my neighbors!
Yea, but how far are you from a hospital. In nc almost every rural hospital has been shut down. The only exception are in counties where the medium income is substantially higher then the average
I've got a very controversial solution to all of this. I think that the government has to de-regulate campers and RVs so you can hook up electrical, water and septic to RVs and live in them full time, and also de-regulate financing for them. All these renters and home buyers could live in RVs and campers, even convert them into tiny housing, and you'd see those home prices finally come down and reasonable housing return to the market. A nice camper is instant tiny housing, you don't need the contractors to set up tiny housing or modular housing or any of that.
I'm so glad I bought a home in 2015. I would hate to try to buy one now.
I am glad you did too.
2016
We bought in 2000
We bought ours in 2006 for 174K. Zillow's estimate price today is 453K...that is crazy. I feel so bad for our sons and their friends...how are they going to afford a house when they're just getting out of college and just starting a job?
@@lucymarion2945 I think about my kids future daily about this same thing.
1. Cut stimulus checks, let people work and increase supply, 2. Stop printing money
We moved into my in laws basement last year during the summer to help save for a down payment on a house. The plan was to only stay a year or so and then buy a house. Well now our best financial option is to stay living with them and keep saving and just wait until the housing crisis slows down and we will be set!! Saved about 30k this past year and planning to save about 40-50k this upcoming year! Although its not ideal to be living here, we are living rent free with no debt and very few bills!
Spoil you inlaws. They are giving you a tremendous gift. Love them up!
@@joanfrederick9176 thank you!! It was really the only decision to make, we were renting an apartment for first 3 years of marriage not able to save much. We had our son and that really changed our perspective and had a perfect opportunity to save money quickly! I drive a beater car which is mainly work transportation.
@@pkendlers yes they are! Hard to see it sometimes because living with in laws can sometimes be too much especially with children but we are definitely blessed by them!
Preach this!!! I love this video. My frustration with the American culture and jobs is reaching a boiling point.
Prices will come down when interest rates go up.
Wrong. Prices will stay the same. This is the new market. Home values in a lot of areas were extremely undervalued for years. This is the new normal. Millianials are in the buying pool now they are driving prices up not interest rates.
Banks aren't helping people.
Most people are living way beyond their means.
@@commoncents456 banks are holding the foreclosures because the government has protection right now . Ends in September tho so we shall see some new homes on the market early 2022
@@simonsayshi
Wow...
Wouldn't have thought of that.
I hate to hear anyone losing there homes.
So sad
@@neilsmith9066 yes. Millennials are driving the prices of homes up. Absolutely 🤣
I mean, here I was just yesterday looking up cheap plots of land to put my tent on.
No kidding. Lived in a tent for some time, and occasionally talked with friends about getting just empty land to be able to exist on.
That's what we came to dream of, at times.
Came here just to type "never"
The government should find a way to force these "forever renting" companies to sell their homes to HOMEOWNERS rather than trying to force us to rent for the rest of our lives by buying up all the houses. I am fine with modular, I just want an affordable place to live that I can own when I am older. I actually LOVE the idea of the mall condos. Not only is it reusing a building rather than demolishing it, which is more eco friendly, but having all that indoor walking space is great for areas that get poor weather for much of the year. Having some shops in there as well is awesome. Imagine a coffee shop, a convenience store, maybe a small grocery store, all in the same building as you. I'd dig that. Less driving, more steps!
There are homes built underground or inside mountains. They are energy efficient and cost less to build.
@@dutchessofcatshire I have seen them in San Angelo Texas 1980s near the Lake
@@dutchessofcatshire Minecraft
Hold up, I’m hearing that lenders are lowering requirements on the house again. Somebody needs to look closer at the so-called regulations!
My husband and I just bought a house in Arkansas, however it has been a long process just trying to find one within our budget and without being outbid by multiple buyers. Our realtor literally showed us a house the morning the listing went up, and we bid by noon that day because the seller was going to stop taking offers since they already had multiple bids on the same house. It moved quick and we paid quite a bit over asking JUST to be considered. This is the most stressful time to buy, because this market is moving SO quickly.
Most sellers are now REQUIRING pre-approval letters before even choosing which offer to accept.
It’s a great time to sell, but an awful time to buy.
What’s crazy is that the market is continuing to rise to insane numbers, and people today are starting to realize that renting may be their only option. It’s sad, because most of us just want to start building equity into ourselves, because more likely than not, we’re settling for smaller spaces, just to be able to do that.
Rent is likely the same, if not more than a typical house payment and it just doesn’t make sense these days.
Just my opinion. Great and informative video!
Congratulations on your home purchase🙂
Similar to shopping malls, closed schools could offer dormitory style living. You have bathrooms, gym, pools, cafeteria, and so forth already there.
Take a look at house prices in Sydney or Melbourne, insane prices , with wage stagnation.
I just bought my 4th home. It is getting harder to make ends meet for sure but we sacrifice. I have kept 3 of the last 4 houses and sold the most appreciated one to buy my 4th house which has a few acres of land. I will sell another rental and build a rental on my land here, as long as 1031 does not go away. I have no retirement fund; so this is it. Fingers crossed. Every house was a home I lived that became a rental after we lived there and fixed it up over time.
The Uber rich skew the income stats tremendously. So it’s actually even worse than is seen on the surface.
When you watch Caribbean Life on HGTV it makes you realize how insane it is to over pay for a below average house in the US.
Oh my goodness girl, I love you, wish u were actually able to make your options for solution to homeless crisis or unaffordable housing, it would be amazing if your ideas and suggestions came to fruition 🙏🏽💪🏽🤎🦅 ur the best! You inspire hope in the most difficult or challenging situations! Thank you!🤎🙏🏽🦅
Thank you, I am working towards getting some of these companies that make modular homes to donate to local homeless communities around the country. Thats the plan!
I like your idea of converting old abandoned malls into homes. I love old mall, as I am into modern contemmporary architecture, and I have taken photos of old malls in the past. Call me crazy, but I had always wanted to live inside of a mall.
Five factors driving the high cost of homes:
1) Record low supply on the market
2) Near record low mortgage interest rates
3) Record high construction costs
4) Moratorium on federal-backed mortgage foreclosures
5) Record high home equity - debt of $10 trillion
and the FED is STILL buying up mortgage backed securities like it is still 2008 keeping real interest rates near zero..I would rather pay 200k for an median home and pay 5.25 percent...prepay the mortgage over time and own free and clear in 10 or 15 years
FED only want to protect homeowner, not the one who has no place to live, homeless, blame them. This is what I read.
For Sale by owner can save 7% off the sale price!!! In most States you can get everything done by the "Title Company" for like 250 - 500 Dollars and have a Attorney look over the contracts if so desired... You can get listed on the MLS thru an Online Service by Reputable Services, show your own property (which is all the Real Estate Agents do, except have those Waiver's signed the video speaks of), AND save THOUSANDS!!!
My father bought his first home a cap cod for 40k back in 1980. He made 20k per year so his first home cost 2 years salary. That same home he bought sold this year for 175k which is the same cost as my first home. Since I make 40k this is more than 4 years of my annual salary.
Interest rates for homes were 11% ... In the 80s. You're whining but not taking everything into consideration. Go in military and get VA loan.
To many of us "modular" is equivalent to trailers. The home is built inside a factory and then transport it to the site. Generally these were lower quality without a corresponding lower price. The main selling feature was speed to completion particularly in sparsely populated areas.
your content is amazing, great video edits too
Thank you. :)
I see this discussion all over the country, but I can't relate. I live in rural Georgia and there are large beautiful homes for under $200k. We just bought an 1800 sq ft, 3 bedroom 2 bath on 5 acres for $135k last week. Moving to another state can be expensive, but there are still many areas in this country that have very low cost of living. Granted, income is lower here as well, so the problem we're having is people from New York and California snatching up the houses here.
I completely agree with you that people are not wanting more available rentals, they want ... need more affordable housing. I also agree that something needs to be done to stop corroboration from buying up whole subdivisions. I’ve been looking for a decent house on 2 acres outside of Dallas and although prices are still very high, I am seeing asking prices being reduced.
*its crazy how much these money hogs are making the rich richer and the poor once again we’re suffering..what can we do to stop the inconciderate rippoff ever house is pending deal right. Sickening America is not the Pledge the legion or for our country it’s who can we bring in for profit housing is a money trap for the rich to put there foot in our heads again. California wouldn’t move if the housing was responsible they have to relocate to exist. Hello What’s a solution? Is there one?
In Wisconsin, I have a charming rehabbed smaller cottage: 3 bed 1 bath SFR for sale, $90,000. 730 sq feet plus large yard, detached garage and same size dry semi-finished habitable basement. Completely new wiring and plumbing, kitchen and bath. Nice neighborhood by Lake Michigan, dog park, elementary school, and on the Ice Age Trail.
Your eye makeup is so pretty. It comes up so nice on camera too. Picking up all that sparkle a d hair color 💁💅
Do you think this problem will end up finding its way into rural land? I'm looking at building a shipping container house in a rural area. Im worried the lots of land will be gone soon.
It will be affordable when you can afford it, having multiple streams of income solves this issue
i agree with you, i was able to make over a mil from an initial 250k trading stocks and digital currency with professional help from an amzing lady i met at a seminar from Bloomberg Mrs Melissa Clara Bruner, best day of my life
@@kallen859 Melissa Clara Bruner?? she was in the news when she revived the Grumac company in 2018
@@kallen859 I saw Melissa Clara Bruner’s website on google, can I connect with her through that ?
@@kallen859 Same, I’m from Dubai and my portfolio with her is close to 800k and profits over 2m
I saw an article that said 40% of Americans missed their mortgage payment in the month of May, what is the normal amount I’ve missed mortgage payments because that seems extremely high.
I cant temporarily even rent an affordable apartment. To save for a down payment because all these new buildings with nice rentals have income limits of like 28k. Its nonsense. so I'm forced to rent at a higher rate in a house, and I'd I want an apartment it's like more than the house. To rent if theres no income limits. It's forcing us all into the same place
I wished that my neighborhood could become commercial as well as residential. I had always wanted to have a music store in my house, sell keyboards on line, teach music lessons as well as live in my own music store.
It's pretty unaffordable here in Washington too.
I have heard that.
Managed to pick up an abused 2,100sqft house on 10 acres for $100,000 cash in December 2020. Needed a lot of work but the elimination of a rent/mortgage has freed up the income necessary to repair it. It will be a gorgeous home come winter but I’m eternally grateful that the opportunity fell into my lap when it did, it’s easily a $400k home once it’s fixed back up.
Edit: I made the purchase at 34yrs old. House is an extremely sturdy ranch style home built in 1962. Made the purchase by borrowing from my 401k.
I love that idea of turning the malls into affordable housing. Brilliant but it probably makes too much sense for all of the politicians. Great show
I'm in Marietta, Ga and this is so true. There are new builds everywhere, but NOT FOR PURCHASE, they are rental only properties, all over Atlanta and the greater area surrounding the city. Average rent starts at $1,600 and up for a one bedroom or studio.
Great video as always. I don't know how people can afford the price of houses today. It would have to stop sometime.
I am shocked how much people are willing to pay over asking. Most realtors are saying the same thing.
Hopefully I get some help or an answer. I have been watching your videos. I own 2.5 acres in AZ and am thinking about putting a modular. What are the typical average costs including land clearing, grading, well, etc.
Thank you for your innovative thinking on solving the affordable housing process.
Here in Phoenix there are 4 communities being built 1 and 2 bedroom single family homes with a small yard. Each community is planned for 1,000 houses but ALL for rent, NOT for sale. Building investors see the value in rental income as housing value rises. Maybe they will sell the houses then in 20 or 30 years?? A builder sells a house and the deal is done, renting creates steady income for decades. More supplies and workers building rental properties vs homes for personal buyers.
I didn’t want to be in debt my whole life and not be able to retire. I sold my home and took the cash and bought a deeded RV lot at Chateau Chaparral near Salida Colorado. It’s the most affordable thing I could find in the entire state and it happens to be in one of the best and most beautiful places for outdoor recreation. This place isn’t cheap but I love the access to nature and the nearby towns. There are other places like this in Arizona, Oregon and Washington that are less expensive. With a deeded RV lot you can legally live on your land and you’re part of an HOA. I can live at my place year round, some places have 180 day limits. I’m so happy to be debt free and mortgage free! Ahhhhhhhh 😄 I’ll take tiny and free over a big house and a ton of financial stress any day!
New sub, loving your channel. I love houses….big or small, old or new! Thank you for great videos. Is metal framing an option since wood has gone wacko?
Same house in Florida up 200 thousand in less then a year. Sick and sad. Cash buyer only. Investors/flipping only. Average family can’t buy a home.
Around 2008, I remember every ad for an apartment was how it was luxury (later learned, a technical term) with all the latest sub zero, stainless yadda. I was thinking, in an 1850s farmhouse attic where I needed a broom to close the window behind the shower, I can live with a non-luxury apartment, where you pay me to hear your footsteps, the other half of my paycheck I would have to pay otherwise to not hear.
I love some of these solutions. Newly subbed!
One way we might get a "crash" (although it's likely not systemic) is for individuals who who speculated on second homes. People who live in their homes are less likely to bail if prices plateau or decrease, but owners of secondary homes are likely less attached to their homes.
The bigger problem is that we're living in an everything bubble--all assets have inflated simultaneously. Relative to other assets like stocks, homes are less pricey than one would think, despite the price to income ratios being totally insane.
Welcome to the channel.
@@DavidHowe-nv1nb I distinguish between goods that have use value (food, groceries), goods that have speculative value (stocks, second homes), and positional goods (education for instance).
When I refer to an “everything bubble” I’m mostly referring to speculative assets. There’s some inflation across the economy, sure, but it’s nowhere near the inflation in speculative assets.
@@falsificationism I've bought BTC as a hedge against FED insane FIAT money printer go brrrrrrrrr
My realtor suggested new build but even the new builds are very expensive and there is little inventory. Do you think buyers should hold off on buying new construction homes too?
That’s what I’m waiting for. My builder actually was suppose to start In the fall of this year but pushed it to spring 2022. I can wait. I believe that there will be a lot of people “underwater” in their mortgages in a couple of years
SOLID!! Many broad, and great, points! Whatever the attempt at solving this is, it will never last if the current labor shortage in construction doesn't improve. Fortunately, we are not a planet ran by robots yet, so workers are still needed for most aspects of construction! For any projected solution to take root, the shortage of workers necessary to build the housing must be improved on...soon. Speaking from a former trades instructor's perspective and a construction company owner, a career in construction as a whole, is a choice that is diminishing rapidly. Thanks for the info here!
Great info! Another zoning change that would help - reducing minimum unit size. Many areas require upper-middle-class sized units (or bigger) for any new construction, which forces folks to build bigger than they want (or want to pay for)
Renting for life is hog wash for sure. It was always my dream to own and I love my home. No landlord will ever sell the home out from me or continue to raise the rent. I don’t have to ask permission to paint. The equity I have in my home is gold. Any property tax I pay still has me living in a space way larger than if I paid the same to rent. Renting has its’ window of time. I rented when I was in my twenties, when I was a student. Many seniors sell their large homes and go to renting. It is the in between people I feel bad for and hope that if it is their desire to own, that they will achieve this.
All true points made, hedge funders have come in our area and have absorbed many homes around us, once they have done that the value has increased exponentially in other areas where the seller has moved out to, purchased a home site unseen cash plus 70k more than the asking price. This has a terrible effect on those that have lived in an area where the cost of living was affordable with the economic factors of that area and now it is out of reach for first time home buyers. Trickle up poverty in effect and the poop is going to hit the fan very soon.
I feel like this needs to slow down or turnaround at some point, because as we know the market is always cyclical. But at this point it doesn't seem like there is any end in sight to the low rates and high values!
I'm either going to buy a residential lot and put a manufacturer home on it, or buy a foreclosure
Not a bad idea at all.
@michael boultinghouse you’re right. Have you looked at modular? They may allow those.
manufactured home depreciate and can not be used for market analysis and not permitted in residential zones.
@@claudemontes that’s not true. You can put manufactured housing in residential areas. It’s local laws that will differ as well as value of the properties.
@Kristina Smallwood, I think most relate manufactured homes as single an double wide trailers, Park Models etc. Most are no longer found even in rural areas without minimal acreage. Most trailer parks in the Midwest died out years ago. Plus most who buy used don't realize doors, hardware are not standard sizes and have to be purchased attrailer supply houses. The door latches usually cost much more than conventional knows and locks. Plus secondary financing is credit card rates. Modular is the way to go. Locally we have a place called Homeway Homes that offer several models including 2 story that look like sight built homes but can be ready in about 30 days on permanent foundation. Not cheaper but quicker and price stable. Less surprise cost overuns.
Rents are high too
You can get excellent advice on what to do, the variables throw everything out the window what you have learned. Two variables that got me are greed and corruption.
The greed right now is nauseating.
@@KristinaSmallhorn I agree. I don't care how much money you have, not important, when you come after the little money I have because your pile of money is not to your liking, then we have a problem. The business practices today are horrendous, consumer beware. I like your show, great job!.
@@MS-st1zb thank you for watching. My next video on the topic is going to be about corporate greed.
What should you do if you have a home you can sell and make an upside of $30,000 to $40,000 but also own a piece of land in the family and want to build but can’t because it’s so high too. Would you go manufactured double wide? Our head is spinning on what to do. Or wait it out and sell later but we could make less, but could build possibly cheaper. What should we do in your opinion?
I moved to Idaho in 2019. You could buy a house for $200,000 or less. Now you can’t get into a 3 bdrm 2 bth for less then $450,000. Over valued assets. And rentals have skyrocketed yet no one is making more money. It will be short lived for sure.
Californians have destroyed Idaho's housing affordability. Im a Californian.
Hi do you have any videos on capital gains. I want to sell after the 1st year and buy in a different state. I am a senior if that matters anymore. Ty
I love asking these realtors and loan officers one question that no one dares to answer: how are people making 50k a year getting approved forn $400k house!? Or household income of 65k getting approved for a 650k house... Here un Cali Caliente. Eventually they started posting video of how some lending officers lie on the debt to income ratio. So how's is this different than 2008 🤣
That's not happening, so...
@@sierrasky2491 oh trust me all these loan officers have done it but they just don't want to admit it on record. Maybe they got money and properties now and preach the, "I would not do that to get my clients approved" 🤣. Anyway, stay Strong save invest.. Listen to Dave Ramsey, like really listen to him
Where can we find zoning laws for southern california town's that allow mnfd homes?
You’ll have to check with either the local court house, title office or a local realtor as they will have access to both of those through the MLS.
When house prices become insane, rent prices are going to be right behind them. What are we going to do when 50% of Americans can't afford a roof of any stripe?
Concrete, block, brick and steel prices are also up, it isn't just lumber and roofing.
What do you think about 3D printed homes?
I will be making a video about them soon. :)
I have land and want to build modular house in 2 years. Do you think the prices are going to go up because of the lumber prices?
My solution? I live in a pineapple under the sea.
Like spongebob? What about the environmental impacts of all the oxygen tanks all over the ocean? it would be an environmental disaster. 🤣
@@KristinaSmallhorn , those are externalities I'm prepared to ignore.
I am having a new house built here in Fayetteville Arkansas by United Built homes out of Shreveport Louisiana and the biggest issue we are seeing is lack of people willing to do labor and contractors that just gave up and walked away from the industry, because they can't find laborers. 1,616 heated sq-ft with a 21x20 non heated 2 car garage, $224,998 including painting, counter tops, bathrooms, insulation, wiring, plumbing, doors, etc. everything except flooring and appliances. The Camden "Farm-house" style. I am paying for the septic separate and I paid cash for the land myself.
What do you think about the new, supposed to be a lot, lot cheaper than building a home is the new 3D printed homes?
So far, from what I have seen it isn't that much cheaper. I know to keep the machines that print steadily is an issue too. I am still studying more about them before I make a video.
@@KristinaSmallhorn thank you, the only video I've seen was put out by the company itself saying for $35,000 you can build a 2,000 sq. ft home complete. It's too easy to fall for what they are saying.
So lucky that I found and purchased my first home at 2019 now can’t imagine how hard it would be.