The Housing Market is SHIFTING in these 10 Cities
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- Опубліковано 25 лип 2024
- Word on the street is the housing market is shifting in 10 cities. This week I'm talking about Zillow's latest forecast of cities where the housing market is forecasted to see a decline in prices. The pandemic shutdowns had a negative impact on many cities and some of them are struggling to recover. Will people be able to score a good deal on a home in these cities? Let's talk about it!
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I left Maryland in 2016. Most people do not realize but Maryland is an EXPENSIVE state to live in.
You're right about Maryland is an expensive state. I've lived here all my life. So, I'm used to living here and know how to manage my money. However, if you're moving from a state where cost of living is low, then it's a major adjustment.
I am not able a afford a Ferrarri or Limbo even it is on sale. 🤣
8000 subs this week good job Jackie!
Thank you so much!
CALIFORNIA:
-Los Angeles
-Sacramento
-San Francisco
-San Jose
Portland Oregon
Washington DC
Baltimore Maryland
New York city
Minneapolis Minnesota
New Orleans
Update :
Million dollar 💵 home 🏡 in Dothan, Alabama sold to a Chinese Family 🇨🇳
So, you see who is buying
Oh boy
That is deep south. What are they doing there?
If now one is going to call this out I will. I call BS! As a traveler around the U.S. These cities mentioned are all high cost of living and even a two-person household income could still not afford in these areas with their ridiculous home prices. Not to mention the other issues these cities deal with. Cape May as mentioned in these threads is real nice small Coastie town was there 6months ago. I used to live in SAC, prices continue to rise as Bay area folks continue to see Sac as affordable but making it unaffordable for those born and raised there. I have relatives in San Jose and they still cannot afford a home with double incomes coming in as a mechanic and banker. New York city is ridiculous. Going Upstate in two weeks to check out my options.
like to see the cape may area NJ come down like 30%
So would I!
San Jose is my home town
What about Austin where everyone bubble bought?
Austin is on the list I believe but not the top 10. Stay tuned for next week cause the next video is all about Austin TX and reasons you shouldn't move there!
I’m currently looking to buy in San Jose and houses are selling within a week with multiple offers. Inventory seems to be slightly improving but there is still not enough houses for sale causing a lot of competition. I’m curious to know how Zillow arrived at that prediction.
I'm curious as well.
Good deals always go quick in any market. Even if their prediction is true and overall prices will drop does not mean that desirable properties will have less competition or that good properties will stay on the market longer.
Also part of the prices dropping might just be homes that were outrageously priced finally coming down to reality.
@@ShameenYakubu I’m not even talking about desirable neighborhoods or houses. I’m looking in downtown San Jose. It’s mediocre at best. There’s three things going on here. 1. There are high income earners here 2. There are a lot of tech workers here that have a lot of stock and they can pay cash or outbid other offers 3. The Inventory is low. As long as these things remain consistent prices will stay high regardless of interest rates. I’m moving back to San Jose because my company is requiring in office. During COVID many of us left and now many of us are coming back. I don’t have a crystal ball but I think Zillow’s predictions are off at least for 2024.
Excellent points!@@ShameenYakubu
Zillow's impact on homeownership goes beyond individual buyers and has implications for the entire economy. Its "Ibuy" program, which failed to take off, has disrupted traditional real estate markets, leading to inflated prices and reduced affordability and inventory. This disruption creates a domino effect, causing housing markets to become less stable and accessible, ultimately hindering economic growth. Furthermore, Zillow's algorithm-driven pricing models do not accurately reflect market values, leading to further distortions. As a result, reliance on Zillow can exacerbate housing crises and undermine the overall health of the economy.
NYC house price is 600s? I thought it is over a million?
That's the median price. There are still plenty for over 1 million.
600K in the hood
@@adiaz1182, even neighborhoods plagued by gun violence and drug addictions are close to a million.
Its all very consistent in the top 10 here. All Deep Deep Blue !
Bless your heart sweety, NOLA and Florida aren't blue, Einstein 🙄
Zillow home value index is the dumbest thing i ever saw. Its nothing but the feelings of the sellers, that's it. Nothing could be more foolish
The feelings of the sellers? Care to elaborate on that? What's your source?