In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I agree, having a brokerage advisor for inveesting is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
My CFA ANNETTE MARIE HOLT a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Keep renting and literally throwing money away lol I’m not selling at a discount I’ll keep it until I die if need be and buy another one and even leave it empty if need be.
In 2008 my house dropped 50%. Houses can definitely loose value fast and job loses, death,divorce and displacement can all force you to move. They don't care if you have a low interest rate.
@@Michael02Mike-m6dHow is renting throwing money away? It costs me less to rent than to buy while I wait for a dip. I’m basically living for half while waiting for the right price. And, btw, it’s getting lower everyday in TX.
@ Well if you’re waiting for the right time of course that makes sense but I’m talking about when people rent their whole lives. Sure homes usually aren’t that worth wild of an investment but at least you’re putting money back into a tangible asset as time goes by but of course there’s nothing wrong with waiting for the right moment.
@LancelotLink1 it's not going to happen any soon Biden and harris mess it up and mess up all the country it will take a decades to fix the mess they did
Everything you’re saying is spot on with the builders vs resale! I’m a realtor in AZ and my clients just bought from DR Horton. House was $500,000 beginning of January 2024 they closed 2 weeks ago got the house for $436,000 PLUS DR Horton paid to have their interest rate down to 4% for the entire 30 year term (costs $50,000) they paid my entire commission ($13,000) they paid them $28,000 in closing costs, threw in $15,000 for backyard landscaping and all appliances including washer and dryer! So $106,000 in incentives and concessions!! NO resale seller can compete with that.
Nobody is waiting for half off prices. They are waiting for sellers to get a dose of reality, rates to come back to reality. Prices are insane!! They will eventually come back to what people can afford.
And 50 years ago they were valued at $15k and were considered expensive because only 10 years earlier the price was $8k. In the last 100 years the value of a dollar has been reduced to one penny. Probably the same loss of value going forward will happen in 50 years. If someone can buy any house for a price that you can afford, it will probably be a good idea. Every house that I have bought has been expensive for me, and I am on my third one. It is possible that we might have a nationwide reduction in home prices, at some point like we had in 2008 but it is also possible that we don't. Those kind of events are extremely rare so I wouldn't hold my breath waiting for one like that to happen again.
@@petervanderveen2340 LOL.. U.S. citizens are in record debt, they overpaid for everything based on believing their stock market accounts and houses are worth enough to justify it. But all that wealth is just on paper now isn't it?
@TheIrvingsylva yeah, hold your breath and see what happens or try and research a bit. Maybe look at Lawrence Yuns predictions for NAR who is almost always spot on.
ya this agent is crying over a buyer wanting half price in a inflated market because his job is to bring buyer and sellers together so HE can make $$$$$$ And if 1 drops out, then he makes no $$$$$ So he gets on YT and complains to everyone about how horrible his life is when it looks like he is doing pretty good to me!
@@premiertrainingFL Yeah, they actually ARE responsible for it, they have been playing everyone for fools. Real estate industry is all about inflating it as high as they can.
Construction is typically years behind demand. There are crazy amounts of new condos and homes that are being finished now, but now they have to compete with a resurgent supply of existing homes and a buyers class that has significantly dried up. Prices are dropping everywhere, as they should.
Prices in Boca are nuts. There are many more homes for sale but many are garbage that need a lot of work. Where I now live in Port Saint Lucie, they are offering up to75k of incentives on a NEW 475k house.
Don’t see it how its possible to go any higher. Needs to drop 50% and more. I live in palm beach county and I am seeing a lot of houses going up for sale. The one down the street has been on sale for two years and they are asking a stupid ridiculous price. They thought it was going to be a flip.😂
@@ChrisIgoe1that’s not the landlord’s fault. Taxes and Insurance are higher and that amount needs to be passed down to the tenants. They just raised my house insurance for 150 bucks starting in May. That amount needs to be paid by someone and majority at the time it goes to the tenants.
It's bad in West Palm Beach, FL. I can't afford to live here anymore and I have paid off my mortgage 3 years ago. But inflation took all the extra money. I'm looking at places I never thought I would like Arkansas and Alabama.
I am trying to move to west palm beach- is 33405 the best zip code? And do u have recs on specific areas that r great? Bc it’s hard to tell in WPB where is good & bad bc its hard will be so nice in one place & then a few streets over- a dangerous area. Thanks for any tips u have!
@@DaisyConstruction west Palm is a sh!thole. You want to be in northern palm beach gardens or Jupiter if you have need to be in PBC, but that’s very expensive. Try further north like Martin or saint Lucie county, not ultra cheap either though. You’ve missed the boat on affordability.
My son and daughter-in-law bought their home in 2019 for $228K and they are selling it for $449K, appraised at $451K for a 3/2.5 ~2,000 sq. ft. home. The housing market is completely broken. On the flip side, the home buying firms offered $370K for the home, so I would NEVER sell to a home flipping company - NEVER! The first time home buyers will have a house payment of ~$2,900 per month. You could only rent this house for ~$2,200 per month. It makes no sense to buy right now when repairs are covered by the landlord and most homeowners have repair bills of ~$350 per month for homes that are 8+ years old to maintain the home.
However they were also in markets that had insane acceleration in prices….anywhere that has massive inflation in home pricing will see a downturn at sometime…
@ it doesn’t matter because low supply is out pacing. This is why you have prices climbing. You don’t have sellers. And bidennomics has forced banks to renegotiate existing loans. So you basically can just live in your home for free. Here in California they don’t even allow evictions or defaults. It’s a stupid mess. But mark my words prices will only go up.
Nothing is down 30%, only destroyed properties, what is required repairs and renovation. Any repairs and renovation cost you $150 per square feet on average, nothing luxury.
All that, and you don't see a market collapse, and you think we are just going back to normal? How does that happen, especially with valuations as high as they are? We are in for a huge collapse!
I've said this for 5 years. I'm a 40 year veteran in real estate and mortgage lending, and everything is absolutely unequivocally.Ridiculous in price food housing everything. I guarantee for a forty percent reduction in asset values.. We're already seeing declines in florida..
South Florida native, and west Boynton/LW resident here. We sold back in 2019 with the intention of buying, but had multiple deals fall through, mostly due to full cash offers undercutting us. We’ve been renting since. Prices in the area are STILL too high. The house we’re renting right now would cost us 50% more to purchase (with PITI), and that’s not including HOA or periodic maintenance. The fact remains that the prices (and taxes, and insurance) here are too damned high for the majority of South Florida residents to afford. As far as prices not coming down, you must not be paying attention. Pretty much every house we have saved on Redfin/Zillow/Etc. Has had massive reductions over the past 12 months in the area. It’s shocking that a real estate agent is predicting no major price reductions in the area. It’s almost like you have a personal incentive to keep the prices high.
Looking forward to your guidance and information about purchasing a home in Texas right now. I’d checked into Lennar homes most recently however, I’m seeing newhome builders nightmares on UA-cam…especially from D.R. Horton. As a Marine Corps Veteran I was advised to use an attorney and my own home inspector.
CI, I live on the other side of the country. Weather is pretty good here. My question, we see all the hurricane news, all the insurance issues etc, What is it that makes people want to live there? A freakin Hurricane can wipe out everything at anytime. Not to mention, its kinda humid there in the summer. I don't get it.
Supply and demand. If they over built which they did in Florida. Still prices are high. Buydown on mortgages they offer are only for a year or 2. Read the fine print!
Purchasing stocks and buying a house are two distinct endeavors. Yet, it’s hard to ignore the staggering rise in home prices-many properties have nearly doubled in value! As a result, countless individuals are finding it increasingly difficult to afford homes at these soaring prices and interest rates. It’s a challenging landscape for prospective buyers! So the houses are just sitting on the market.
as a property manager may i say the rents are up hundreds per month 30% on average even more for class D properties and i am telling you right now landlords are losing because tenants have very high expectations, theyre hopping around instead of staying at one place because they expect new everything and every detail taken care of and when carpet gets old they move to a new place landlords are losing their shirts on these turn projects its not worth it be lower in rent than market rate and people will stay and complain less
Are people really this naive, uneducated, or perhaps I hate to say, stupid. It was the Federal Reserve, which has nothing to do with the president or the US government, that caused a majority of the inflation and irrational exuberance. The Fed lowered interest rates and executed on a QE bond buying spree to increase their balance sheets to $9 trillion. Secondly, irrationally exuberant US citizens illogically and emotionally purchased things during Covid because of lower interest rates, money printing (the QE I mentioned), fear of missing out, and some Covid relief money. I put most of the responsibility on irrational US citizens. Without people buying homes, stocks, boats, cars/trucks, and RVs and other stupid shit they didn't need the economy would have never experienced it's current bubble situation.
Mike, told you 2 years ago that the price of properties in gated country club communities with initiation fees above $100k, ridiculous HOA and monthly club fees would collapse and they did... some are literally selling for pennies....
In central florida DR Horton Harmony West have 100k discounts in models like Hayden in 1 year, discounts on interest, and assistance for closing and down payment of 45k+
For you all want home prices go down do you know that won’t came along that will come down with all the economic and people losing jobs and a lot of other things just like 2008 so I’m hoping that won’t be the case again in order that home prices drop
Forget for cheap housing and cheap cars. Minimum wage won't go anywhere from 15$ per hr. But atleast prices should stop growing up for next 5-10 years.
I hope their sales decline continues until they start selling homes that people can afford without having to drive for Uber. They artificially inflated prices to unsustainable levels, and now they are paying for their greed.
In my market, DR Horton isn't dropping prices that much, but they are taking a pretty substantial hit when including finance incentives. I have a cash buyer and DR only rebated the home $15k off from their first reduced price (the total price reduction was $65k from full retail). The sales associate said they are adamant about keeping comps high for the last 7 lots in this particular subdivision. If the buyer wanted a loan, they would of paid about the same price but would have gotten a 5% interest rate and all the closing costs paid in addition. I was hoping that being a cash purchase, we could of moved that $40k incentive toward additional price reduction but it didn't work, but the house was still a good deal overall. Bottom line is that there was approximately $105k in total available incentives on an $800k+ home, but this buyer was only able to capture about a $65k reduction by passing up all the finance incentives. All markets and subdivision situations are different and DR isn't overbuilt here like Florida and other markets. I'm in the Denver metro for reference.
I am a real estate broker. I would advise a buyer to buy a resale, with good bones. These new construction are not built well. They are taking inexpensive ways to build. Buyer beware.!
In SOME locations prices will come down moderately, but nothing near 30% lol. There’s not enough housing, and no one is going to sell for a huge losses on a home with a 3% mortgage on it…. Keep dreaming folks
I'm soooo glad we bought our house in 21 at a great price and at a great rate of 2.875% also when we claimed the Double Homestead Exemption, property taxes almost halved to $471 a year, they also assess on bought price not appreciation. Once we turn 65 property tax freezes, Military are property tax exempt I'm not going anywhere.
@KayRodgers-f1v I'm glad you did too! Sounds like you nailed the timing. Thank you for your service and for watching and commenting. I hope you have a happy new year and that 2025 is your best year yet !
Quickly all D.R. Horton built homes will be worthless Because it was built by horton. Horton is responsible for building poorly constructed houses. Horton destroyed its own Reputation.
Economy will get better soon. The market a lot of time is just a whim. I believe the two factors that will never change is location and inventory. You need to decide if the property you are buying is your home or an investment. I always looked at it as both. Can't say I have looked for or bought a forever home, but I will some day, then I probably will only focus on purchase price not increased market value.
DR. Horton homes are cracker jack boxes. Recommended to buy them on the cheap and rent it out. I would never live in one of them controlled subdivisions.
While this is a trend for new home prices.. it MOSTLY a trend for these NATIONWIDE BUILDERS. That build REALLY shitty quality houses , at huge markups, on larger tracts of land that they buy for farmland prices. Thanks to numerous building inspectors with online social media presence for videographing their shotty work.
Well, if ya in the real estate game, the conflict of interest will eek out a stable planet theory, but, sorry, the 2025 crash is inevitable, nothing stops the greed and panic buttons
No one wants a prepackaged home of minimal quality, no imagination, an expensive and restrictive HOA complete with the HOA cops. This is not the American dream. Hold out for better.
@Stillcrazyafteralltheseyears27 very different market dynamics on west coast. Builders are super aggressive with incentives and there is a lot more land to develop vs here but eventually the everything bubble will pop and everyone will feel it.
@@ChrisIgoe1it is. My mom is living north of Tampa. In 2022 you had to follow moving vans to buy a house as any listing would have 10 all cash offers in a minute by the time it was listed. Today 4 homes on her block have been vacant for months with owners only knocking down 10k every 2 months with no nimbles
So, you as a home builder are admitting to more than a 50% profit margin on each new home and admitting that home builders will go bankrupt and out of business building home that are worth less than the cost of labor and materials?
If they don't crash.. our entire economy will. The prices are unsustainable.
Exactly!
What does a crash look like
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I agree, having a brokerage advisor for inveesting is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@@Jeffcraparo that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you.
My CFA ANNETTE MARIE HOLT a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.
Let’s continue holding the line .. don’t buy until the market has at least a 30% correction
50%
Keep renting and literally throwing money away lol I’m not selling at a discount I’ll keep it until I die if need be and buy another one and even leave it empty if need be.
In 2008 my house dropped 50%. Houses can definitely loose value fast and job loses, death,divorce and displacement can all force you to move. They don't care if you have a low interest rate.
@@Michael02Mike-m6dHow is renting throwing money away? It costs me less to rent than to buy while I wait for a dip. I’m basically living for half while waiting for the right price. And, btw, it’s getting lower everyday in TX.
@ Well if you’re waiting for the right time of course that makes sense but I’m talking about when people rent their whole lives. Sure homes usually aren’t that worth wild of an investment but at least you’re putting money back into a tangible asset as time goes by but of course there’s nothing wrong with waiting for the right moment.
Falling home prices will be good for the consumer and the economy. I hope it happens.
Haha it’ll destroy the economy like in 08.
THEY WILL BE BOUGHT UP BY ELITES. 😅😅
@LancelotLink1 it's not going to happen any soon Biden and harris mess it up and mess up all the country it will take a decades to fix the mess they did
Everything you’re saying is spot on with the builders vs resale! I’m a realtor in AZ and my clients just bought from DR Horton. House was $500,000 beginning of January 2024 they closed 2 weeks ago got the house for $436,000 PLUS DR Horton paid to have their interest rate down to 4% for the entire 30 year term (costs $50,000) they paid my entire commission ($13,000) they paid them $28,000 in closing costs, threw in $15,000 for backyard landscaping and all appliances including washer and dryer! So $106,000 in incentives and concessions!! NO resale seller can compete with that.
I hope Pulte does that with me! I'm trying to move closer to family, but waiting (like everybody) for housing prices to drop down!
100% true
Exactly the sellers thinking they can compete with the builders need to wake up not going to happen the builders are going to win every time
Nobody is waiting for half off prices. They are waiting for sellers to get a dose of reality, rates to come back to reality. Prices are insane!! They will eventually come back to what people can afford.
I love it….. “ Home prices, $600k, wont crash by 50%” BUT that same home 4 years ago was valued at $280k….😂🤣😂
Exactly!
And 50 years ago they were valued at $15k and were considered expensive because only 10 years earlier the price was $8k. In the last 100 years the value of a dollar has been reduced to one penny. Probably the same loss of value going forward will happen in 50 years. If someone can buy any house for a price that you can afford, it will probably be a good idea. Every house that I have bought has been expensive for me, and I am on my third one. It is possible that we might have a nationwide reduction in home prices, at some point like we had in 2008 but it is also possible that we don't. Those kind of events are extremely rare so I wouldn't hold my breath waiting for one like that to happen again.
@@petervanderveen2340 LOL.. U.S. citizens are in record debt, they overpaid for everything based on believing their stock market accounts and houses are worth enough to justify it. But all that wealth is just on paper now isn't it?
@TheIrvingsylva yeah, hold your breath and see what happens or try and research a bit. Maybe look at Lawrence Yuns predictions for NAR who is almost always spot on.
Not in Palm Beach County..
Considering the actual cost to build doesn't match the price increases over the last 7 years yes there is room to cut prices
ya this agent is crying over a buyer wanting half price in a inflated market because his job is to bring buyer and sellers together so HE can make $$$$$$ And if 1 drops out, then he makes no $$$$$ So he gets on YT and complains to everyone about how horrible his life is when it looks like he is doing pretty good to me!
Only for those who bought pre pandemic, those who purchased in 2021+ are stuck until bankruptcy
Real estate agents are in denial.. stop pricing homes for 500k when it’s only worth 300k or the 300k house price when house is worth 200k
Agreed!
Greed driven market
All real estate agents do is comparisons in the area most recently. They aren’t responsible for the market insanity
@@premiertrainingFL Yeah, they actually ARE responsible for it, they have been playing everyone for fools. Real estate industry is all about inflating it as high as they can.
@ bs they don’t raise the prices. It’s the market. It takes 10sec to research why real estate went nuts. And it ain’t realtors
We don't want buy down rates, instead Lennar take $150k off of the home.
I see collapse.
Clearly you aren't in finance or have a clue
To big to fail companies have too much invested in the housing market.
Excellent analysis some how USA 🇺🇸 are not high like Canada 🇨🇦 old bungalow in Toronto 1,3 million.
Construction is typically years behind demand. There are crazy amounts of new condos and homes that are being finished now, but now they have to compete with a resurgent supply of existing homes and a buyers class that has significantly dried up. Prices are dropping everywhere, as they should.
Prices in Boca are nuts. There are many more homes for sale but many are garbage that need a lot of work. Where I now live in Port Saint Lucie, they are offering up to75k of incentives on a NEW 475k house.
My mom bought her house and Port St. Lucie for 100k 10 years ago now we’re 400 K. We are in a bubble.
@@roughpatchroad Well the builders cost of building a house with land is over 300k for even the smallest house.
Don’t see it how its possible to go any higher. Needs to drop 50% and more. I live in palm beach county and I am seeing a lot of houses going up for sale. The one down the street has been on sale for two years and they are asking a stupid ridiculous price. They thought it was going to be a flip.😂
The rent is too damn high!
@s99614 not according to the landlord🤣
@@ChrisIgoe1that’s not the landlord’s fault. Taxes and Insurance are higher and that amount needs to be passed down to the tenants. They just raised my house insurance for 150 bucks starting in May. That amount needs to be paid by someone and majority at the time it goes to the tenants.
you'd be surprised some landlords want tenants to fit the full bill.
@@lilpandanesegirlhaha of course why would you lose money on an investment? Wouldn’t be much of an investment if it lost you money right?
Nope they want more !!!!@ChrisIgoe1
It's bad in West Palm Beach, FL. I can't afford to live here anymore and I have paid off my mortgage 3 years ago. But inflation took all the extra money. I'm looking at places I never thought I would like Arkansas and Alabama.
@MuahMan thanks for watching and commenting. I hope you have a happy new year and that 2025 is your best year yet !
Move to Pahokee or Belle Glade
Southern Alabama is great!
I am trying to move to west palm beach- is 33405 the best zip code? And do u have recs on specific areas that r great? Bc it’s hard to tell in WPB where is good & bad bc its hard will be so nice in one place & then a few streets over- a dangerous area. Thanks for any tips u have!
@@DaisyConstruction west Palm is a sh!thole. You want to be in northern palm beach gardens or Jupiter if you have need to be in PBC, but that’s very expensive. Try further north like Martin or saint Lucie county, not ultra cheap either though. You’ve missed the boat on affordability.
My son and daughter-in-law bought their home in 2019 for $228K and they are selling it for $449K, appraised at $451K for a 3/2.5 ~2,000 sq. ft. home. The housing market is completely broken. On the flip side, the home buying firms offered $370K for the home, so I would NEVER sell to a home flipping company - NEVER! The first time home buyers will have a house payment of ~$2,900 per month. You could only rent this house for ~$2,200 per month. It makes no sense to buy right now when repairs are covered by the landlord and most homeowners have repair bills of ~$350 per month for homes that are 8+ years old to maintain the home.
We just reachedb1 million plus in Plantation 🎉
However they were also in markets that had insane acceleration in prices….anywhere that has massive inflation in home pricing will see a downturn at sometime…
Thank you for your insight and expertise.
Nothing will crash until there are major job losses.
3D printing of homes will add downward pressure
Boca raton prices are not going down 50% I am in Plantation Fl
Excellent info cheer🎉🎉🎉
Prices only going up here. So I only see new home production slow down and inventory going even further down. Causing home prices to only go up. 👍
Demand will bring the prices down.
@ it doesn’t matter because low supply is out pacing. This is why you have prices climbing. You don’t have sellers. And bidennomics has forced banks to renegotiate existing loans. So you basically can just live in your home for free. Here in California they don’t even allow evictions or defaults. It’s a stupid mess. But mark my words prices will only go up.
Nanci Pelosi can time the market well!
😂
I wonder where in the U.S.A prices are down 30 or 50 % ?
Nothing is down 30%, only destroyed properties, what is required repairs and renovation. Any repairs and renovation cost you $150 per square feet on average, nothing luxury.
All that, and you don't see a market collapse, and you think we are just going back to normal? How does that happen, especially with valuations as high as they are? We are in for a huge collapse!
I've said this for 5 years. I'm a 40 year veteran in real estate and mortgage lending, and everything is absolutely unequivocally.Ridiculous in price food housing everything.
I guarantee for a forty percent reduction in asset values.. We're already seeing declines in florida..
South Florida native, and west Boynton/LW resident here. We sold back in 2019 with the intention of buying, but had multiple deals fall through, mostly due to full cash offers undercutting us. We’ve been renting since. Prices in the area are STILL too high. The house we’re renting right now would cost us 50% more to purchase (with PITI), and that’s not including HOA or periodic maintenance. The fact remains that the prices (and taxes, and insurance) here are too damned high for the majority of South Florida residents to afford.
As far as prices not coming down, you must not be paying attention. Pretty much every house we have saved on Redfin/Zillow/Etc. Has had massive reductions over the past 12 months in the area.
It’s shocking that a real estate agent is predicting no major price reductions in the area. It’s almost like you have a personal incentive to keep the prices high.
Looking forward to your guidance and information about purchasing a home in Texas right now. I’d checked into Lennar homes most recently however, I’m seeing newhome builders nightmares on UA-cam…especially from D.R. Horton. As a Marine Corps Veteran I was advised to use an attorney and my own home inspector.
@dmiles8406 thank you for your service. Anyone buying a new build should have it independently inspected. Never trust the builder to inspect itself.
Lol
Do they have any incentives in Westlake, FL? Minto?
CI, I live on the other side of the country. Weather is pretty good here. My question, we see all the hurricane news, all the insurance issues etc, What is it that makes people want to live there? A freakin Hurricane can wipe out everything at anytime. Not to mention, its kinda humid there in the summer. I don't get it.
Is building a home in Texas now ok ? Please help
Excellent information… I really enjoy your content and your delivery… Thank you for sharing…😊
Thanks for watching!
Supply and demand. If they over built which they did in Florida. Still prices are high. Buydown on mortgages they offer are only for a year or 2. Read the fine print!
That will bring unaffordability in 2026 or 2027,a second wave in Florida
There is a lot of houses in sale in south fl and FL in general, eventually , the home price has to be adjusted, they are insane high.
Purchasing stocks and buying a house are two distinct endeavors. Yet, it’s hard to ignore the staggering rise in home prices-many properties have nearly doubled in value! As a result, countless individuals are finding it increasingly difficult to afford homes at these soaring prices and interest rates. It’s a challenging landscape for prospective buyers! So the houses are just sitting on the market.
as a property manager may i say
the rents are up hundreds per month
30% on average
even more for class D properties
and
i am telling you right now
landlords are losing
because tenants have very high expectations, theyre hopping around instead of staying at one place because
they expect new everything
and every detail taken care of
and when carpet gets old
they move to a new place
landlords are losing their shirts on these turn projects
its not worth it
be lower in rent than market rate and people will stay and complain less
Fed is not tightening, they r lowering interest rates or trying to...😅
It was half price five years ago before the fool that we elected was throwing money at every damn problem.
Mainly throwing money at foreigners wars & "new comers" not so much for citizens
Are people really this naive, uneducated, or perhaps I hate to say, stupid. It was the Federal Reserve, which has nothing to do with the president or the US government, that caused a majority of the inflation and irrational exuberance. The Fed lowered interest rates and executed on a QE bond buying spree to increase their balance sheets to $9 trillion. Secondly, irrationally exuberant US citizens illogically and emotionally purchased things during Covid because of lower interest rates, money printing (the QE I mentioned), fear of missing out, and some Covid relief money. I put most of the responsibility on irrational US citizens. Without people buying homes, stocks, boats, cars/trucks, and RVs and other stupid shit they didn't need the economy would have never experienced it's current bubble situation.
Mike, told you 2 years ago that the price of properties in gated country club communities with initiation fees above $100k, ridiculous HOA and monthly club fees would collapse and they did... some are literally selling for pennies....
No one wants an HOA!!!! They can drop new construction in 1/2 but the yards are way too small
And the HOAs are a no for Millennials.
I bought a townhouse last June for 265k
In central florida DR Horton Harmony West have 100k discounts in models like Hayden in 1 year, discounts on interest, and assistance for closing and down payment of 45k+
I pay more for rent for a 2 bdrm apartment in Dallas than my brother-in-law pays for his 4 bdrm home in Oklahoma City.
The Fed isnt QE and isnt ruling out raising rates again. Ill still rent until they decide to QE.
The average person cant buy a home... so the rest is math. If they cant buy.... everyone will loose out. Inflation is way to high and pay is to low
Exactly correction is long needed
Hi Dude!
I live in my car too! That black interior sucks in the sun I bet. Don't light yourself on fire though.
This is gonna getting worst.
2025 to 2030.
Everythingh gonna collaps.
End time for monopoly money.
This is the bad side of printhingh free money
It’s a bubble
Good!! That means property taxes will go down for homeowners I’m getting my house appraised every 6 months 😂
For you all want home prices go down do you know that won’t came along that will come down with all the economic and people losing jobs and a lot of other things just like 2008 so I’m hoping that won’t be the case again in order that home prices drop
Forget for cheap housing and cheap cars. Minimum wage won't go anywhere from 15$ per hr. But atleast prices should stop growing up for next 5-10 years.
I’m in palm beach gardens…. They waiting on half price 😅
Even foreclosures won’t be 50% on anything built in the last decade.
Who can afford to buy a home at these prices?
Hold the line!
not enough we need 150k or 100k homes.
Agreed then I'd jump in!
The future looks bright? You must be looking at a train head light.
It's just time to move to the Philippines!
Us older men do have the overseas option.
Smart unless their government becomes unstable Junta.
@@johnygoode2239 lol then on to the next country
Real estate is the worst investment ever right now.
No. Homes will never go down. Only up and up. Just wait another 2-5 years... An average home will be 5 million dollars 😮
@@stigschade405 I'm saying blackrock and other big companies will own just about every home and either rent or sell for 5 mil lol
@@stigschade405 yep. That's sounds about right... It should be illegal for a corporation to buy limitless properties.....
I'm gold but yeahhhh it looks bad 4u.
LOL. Would never buy in FL due to hurricane and insurance liability.
Probably a smart play. But alas not an option for us living and working here.
Freezing your butt yet? 😂
I just got a homeowners insurance quote that is 20% less than my previous 2 years. Overall, FL is still a paradise even if it has lost a little shine.
I don't think housing will crash, but the housing price will be the same, not up or down.
I wouldn't want to buy a home in Boca Raton. The lawns are too nice.
Lol HOA will eat you alive
@@gfckid32 No matter what city it's in, if a home owners' association is involved, I won't buy.
No crash yet…
Horton Homes are junk! Housing is way over priced. In 2020 I bought a house $20K 3br/2bath. Deals ar out there.
450k to 300k is not 50% drop.. someone miss math class
Anyone buying a house should know how to repair it, seriously
It won’t.. look at the national debt! Prepare for hyperinflation
I hope their sales decline continues until they start selling homes that people can afford without having to drive for Uber. They artificially inflated prices to unsustainable levels, and now they are paying for their greed.
The fed isnt tightening.
USA economy mirrors Europe economy in my opinion. Europeans home are expensive. That class is called European Diplomacy.
In my market, DR Horton isn't dropping prices that much, but they are taking a pretty substantial hit when including finance incentives. I have a cash buyer and DR only rebated the home $15k off from their first reduced price (the total price reduction was $65k from full retail). The sales associate said they are adamant about keeping comps high for the last 7 lots in this particular subdivision. If the buyer wanted a loan, they would of paid about the same price but would have gotten a 5% interest rate and all the closing costs paid in addition. I was hoping that being a cash purchase, we could of moved that $40k incentive toward additional price reduction but it didn't work, but the house was still a good deal overall. Bottom line is that there was approximately $105k in total available incentives on an $800k+ home, but this buyer was only able to capture about a $65k reduction by passing up all the finance incentives. All markets and subdivision situations are different and DR isn't overbuilt here like Florida and other markets. I'm in the Denver metro for reference.
Replacement value. Cost of land can go down a bit but the material and labor won't. Cheap homes wont drop much. Expensive homes will.
I am a real estate broker. I would advise a buyer to buy a resale, with good bones. These new construction are not built well. They are taking inexpensive ways to build. Buyer beware.!
God bless you, Chris. I've learned so much from you. Praying to buy a home in 2025. Happy New Year!
Happy new year!
In SOME locations prices will come down moderately, but nothing near 30% lol. There’s not enough housing, and no one is going to sell for a huge losses on a home with a 3% mortgage on it…. Keep dreaming folks
I'm soooo glad we bought our house in 21 at a great price and at a great rate of 2.875% also when we claimed the Double Homestead Exemption, property taxes almost halved to $471 a year, they also assess on bought price not appreciation. Once we turn 65 property tax freezes, Military are property tax exempt I'm not going anywhere.
That doesn't sound like FL
@KayRodgers-f1v I'm glad you did too! Sounds like you nailed the timing. Thank you for your service and for watching and commenting. I hope you have a happy new year and that 2025 is your best year yet !
@@ChrisIgoe1 You too!
Property taxes under $500? Where exactly? Alabama maybe?
Quickly all D.R. Horton built homes will be worthless Because it was built by horton. Horton is responsible for building poorly constructed houses. Horton destroyed its own Reputation.
The fact that these builders are offering substantial incentives tells me they were extremely greedy from the get go.
Economy will get better soon. The market a lot of time is just a whim. I believe the two factors that will never change is location and inventory. You need to decide if the property you are buying is your home or an investment. I always looked at it as both. Can't say I have looked for or bought a forever home, but I will some day, then I probably will only focus on purchase price not increased market value.
He’s got a rogue shirt on, so I trust him.
DR. Horton homes are cracker jack boxes. Recommended to buy them on the cheap and rent it out. I would never live in one of them controlled subdivisions.
450 to 300 is not a 50% drop🧐
Who wants to move to Florida?
Exactly. Please don't move here. Lol
No Florida for me, AZ or Texas maybe.
Texas property taxes are very high. Insurance too.
While this is a trend for new home prices.. it MOSTLY a trend for these NATIONWIDE BUILDERS. That build REALLY shitty quality houses , at huge markups, on larger tracts of land that they buy for farmland prices. Thanks to numerous building inspectors with online social media presence for videographing their shotty work.
Those houses are worth half. They are smart
Well, if ya in the real estate game, the conflict of interest will eek out a stable planet theory, but, sorry, the 2025 crash is inevitable, nothing stops the greed and panic buttons
If 100 people want to buy something there is only ten of. Do you think the price will crash? 😅😅😅
No one wants a prepackaged home of minimal quality, no imagination, an expensive and restrictive HOA complete with the HOA cops. This is not the American dream. Hold out for better.
Does your optometrist dilate your pupils for your thumbnails ? 😊
If they doing that. Give the present a break. Greed will destroy America .
Far too much debt drove those prices, debt can't be sustained.
@Chris Igoe what are your thoughts on the Tampa and the panhandle area.
@Stillcrazyafteralltheseyears27 very different market dynamics on west coast. Builders are super aggressive with incentives and there is a lot more land to develop vs here but eventually the everything bubble will pop and everyone will feel it.
@ thank you 🙏🏼. Have a fabulous New Year and I’ll see you on the flip side
@@ChrisIgoe1it is. My mom is living north of Tampa. In 2022 you had to follow moving vans to buy a house as any listing would have 10 all cash offers in a minute by the time it was listed.
Today 4 homes on her block have been vacant for months with owners only knocking down 10k every 2 months with no nimbles
So, you as a home builder are admitting to more than a 50% profit margin on each new home and admitting that home builders will go bankrupt and out of business building home that are worth less than the cost of labor and materials?
Nothing like panic to drag the market over the cliff, end of cycle party is going into hangover mode
no crash