Buy NOW or WAIT? Should You Buy A House In 2024?
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- Опубліковано 29 чер 2024
- Should you Buy Now or Wait until for a Housing Market Collapse? With the housing market picking up again, sellers staying put and interest rates bouncing all over the place, many first time home buyers are wondering when is the right time to buy a house? In this video, we discuss what you need to consider in the current housing market along with housing affordability to help you in deciding if you should buy a house in 2024.
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Jeb Smith (huntington beach Realtor/orange county real estate)
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It's all hopeless, Jeb. Thanks though. 🥴
This video is the video I needed ❤
He spoke without bias.
Thank you. Good luck!
Just want to share our experience...
We brought a house this year despite the inflated house price and interest rate. Closed on feb 9, with 6.625 interest rate (we didnt buy points), with 20% down.
We have been waiting since 2020 for the market to simmer and its getting worse and worse... inventory is getting less and less. Prices getting higher and higher.
People should always note---Real estate is local, and in my area (connecticut), houses are still selling like hotcakes.
We decided to just buy, and got lucky that we actually love our house & property. And we can see our family living there for 10 yrs or more.
Totally agree with jeb, you buy for the long haul.
Congrats on the purchase.......It's not for everyone but if you can do it and have a longer term horizon, you won't regret it.
This! Bought our house at 6.5% in 2022. Did a 2 1 buydown loan which has really helped us. My significant other and i have been able to increase our income in the last two years and are now able to cover the increase in mortgage. Hope to refinance in the future. Until then, we are holding long.
great advice as usual.
Great advice on home affordability!
Hello @AlexRodriguez-yz7iv, I appreciate your positive feedback! It's my aim to provide information that helps people make well-informed home buying decisions. Glad to know you found the advice useful. Feel free to share any specific topics you'd like to learn more about - I'm here to help.
Thumbs up on the video, thank you for keeping us informed. In my area, everybody’s getting Home insurance cancellation notices. They are canceling home insurance for everyone one by one. This is another thing to consider. In case of another big fire, people will be by their own. Everything burns, and there is only the land left and then some investors buys the land and we know the rest….
Hi @ellie3637,
I'm glad to hear that you found the video useful! Your point about home insurance cancellations is quite insightful. Insurance plays a critical role in protecting our real estate investments and sudden cancellations can indeed pose a significant challenge.
However, in times of crisis like the one you've described, there are often state and federal programs available that can assist homeowners who have been affected by natural disasters such as fires. It's also worth looking into alternate insurance providers who may still offer coverage in your area.
It's also an unfortunate reality that in such disasters, larger investors often do end up benefiting. This underpins the importance of fair housing laws and initiatives to protect homeowners.
Thanks for bringing up this important topic. It's a reminder for all of us to continually stay informed and proactive in our approach to managing our homes.
Great video 👍
Thanks for your positive feedback, @daniellaplouis1359! It's great to know that you enjoyed the video. Stay tuned for more informative content.
I bought this year at 6.9% because I got a 90 days notice after 5 years in my apt in December and decided that I didn’t wanna hop to another apartment and let someone else decide if I was going to live in my home or not by not renewing my lease. An emotional decision I admit but I don’t regret it.
Good luck on your journey
There is nothing like being a proud homeowner. No one telling you what to do with your space, you can decorate and do fun projects to customize the interior and exterior of your home, and no fear of getting a 60 day notice to move. I love being a home owner! It’s freedom!
Great video
Hi @Cougar-mike, thanks for your positive feedback! I'm glad you enjoyed the video. Keep watching for more informative content!
I don’t see a big “crash” happening. Homeowners are not willing to accept less for their homes. Most of them locked in extremely low interest rates. My guess is homeownership with become harder to become a reality for most people as years go on. Now might be a great time to buy, you really never know.
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But if that’s the case why are so many listings are up? And if people don’t want to budge can they keep the house or houses? I’m seeing something different
@@profitmix441 Remember that real estate is local, in the sought after areas there are still raging bidding wars with extreme low supply of houses on the market. Especially with entry level to mid tier homes.
Sounds like you are spreading FOMO.
There needs to be more job losses for the housing market to come down. As Fed doesnt cut rates, credit roll overs happen and term premium goes higher, the businesses will need to cut jobs. Something needs to give in this market.
There are more multi-family houses being built as well bringing down rental inflation. We are still in a pandemic economy hangover. Wonder how long the house affordability crisis can last.
My friend had a fortune of buying his home in 2006 when the RE peaked and went through the crash in 2008. He had to wait for 12 years to recover the price point of 2006. If he delayed the purchase for just 3 years, he could've bought 2 same houses for the price of one he got. If it doesn't make sense, it's because something is off...
Great Advice! Buying a house is not just a financial consideration. We are everyday people and not investors. If your life and location is stable, then even 2024 can be a good time to buy.
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These times are actually one of the worst times to buy a house in history. Most people should wait. Renting a house for a year or two for 30% less than buying will allow someone to save more money to buy a potentially better house in the future. There is a risk in buying a house right now that is at a peak that hasn't been seen in a while. There is a risk in waiting, but in my opinion, the risk of waiting is far less than the risk of buying. For years the market has been going up up up and you could confidently say that house prices will continue to go up so buy it now and you have an immediate appreciating asset. No one knows where housing will turn in the next year, 2 years, even 3 years. You should only buy if you absolutely have to. If you do buy, expect to be in that house for the next 10 years. housing is expensive and unaffordable to the majority of Americans and that's not just because of the interest rates. Even if interest rates go down to 5%, most people can not afford to buy a house at that price. They will qualify, but affordability will only go up slightly. One of the main reasons prices are still high and there is no "crash" is because supply is down. If you tell me the main reason my home I'm about to buy is at this price is because there are not that many right now, I would not be confident that it will be going up in value in the near future.
If you can afford to be patient, then wait things out and increase your down payment.
Rent is higher than mortgage payments in my area.
What landlords are doing is matching current market rates instead of charging their initial rates. Houses that were $800 a month are double if not 3x for rent.
The only way to survive renting is through apartment complexes that have also raised rent double the price.
Not sure if that’s the case in other places but Texas has been flooded from west coast refugees. They were used to higher rent so they pay and locals don’t compete.
The biggest kicker is I make a little over 100k a year and while I can afford my life for now I refuse to contribute to the chaos
There a rental down the street that is renting for $2900 per month. My mortgage payment is $1600 for the same exact place. I don’t think waiting was the right decision.
While it's true there are many variables at play and some risks too, each individual case is unique and should be evaluated accordingly.
There are still opportunities for several people to become homeowners, even in a tight market. For instance, some people might not have the luxury of waiting a year or two to buy, based on their circumstances.
Affordability, as you pointed out, isn't based on interest rates alone, but also on income, credit scores, and the overall cost of living in a particular area. For many first-time home buyers, government programs, and first-time home buyer incentives could make home ownership much more achievable.
And as per your note on supply, it's a delicate balance indeed. While a lack of supply might drive prices up in the short term, that same lack of supply could also keep equity high even years down the line especially for a optimal location.
At the end of the day, the decision to buy a home is very personal and can be complex. It's important for all potential home buyers to consider all factors and seek professional advice to guide them in their journey.
Thanks again for watching and engaging in this interesting dialogue. We all benefit from open discussions like this one.
Its def based on where you live. My rent is 1900 a month and I would be paying 2900 if I bought it@@Jack-pd4ps
I never bought a home without sending them at least two months of bank statements before they even send a pre approval. They do analyze how much you spend on gas childcare and other expenses. When it comes to an accepted offer they usually look back 90 days of bank statements for me.
If you can do it go for it if not don’t. I chose to buy for various reasons and Marry the house, date the rate.
I just closed on my home feb 16 2024 at 6.15%. Bought it for $20k under listing. I started home searching December-January when the interest rate peaked. It scared away a lot of competition. I was even looking at homes over $500k, at that price point competition is a lot lower than $400k which is the median.
I’ve had an opportunity to buy a house back in 2016 but I backed out cause I was afraid to have a mortgage. One of my biggest regret and I think that’s what motivated me to buying a home this time. That FOMO is a real thing and it goes both ways.
Congratulations on successfully closing on your new home! It seems that you were able to use the market's conditions to your advantage with your strategic timing. Bold moves like starting your house hunt during peak-interest rate times can indeed deter competition, as many potential buyers may feel intimidated by the current rates.
It's perfectly reasonable to feel some apprehension about taking on a large financial responsibility such as a mortgage. However, as you've experienced, making the commitment can also be an incredibly rewarding experience and a valuable investment. You're absolutely right, the fear of missing out can be a double-edged sword in property buying decisions.
@@JebSmith Thanks Jeb, I’m a first time homeowner, i was really nervous, I was about to get cold feet but I realize this isn’t going to be the last home I’ll ever buy.
Yeah because of the right timing, I was able to offer less than their asking price. And the feds plan on dropping rates but not anything soon since inflation went up this pass meeting. But at least now I can now have some projection on when that is going to happen. I’ll just ride out the rough waves for now. We can always refinance down the line. Oh and another important factor is having good money management. I am able to save close to 20% of my annual income.
Long term this will all make since one day haha.
SCARY, I FEEL YA.
You can control whether you buy or wait. Now is the time to rent!! I own home for myself. My monthly mort. payment is $1700 at 2.75%. Now the same house if bought today's price and rate is gonna be $4900. If renting, it would be $3200. My house peaked 2 years ago and has been stagnant up and down since. Patience will win the day. Do not get suckered in by realtors who make a living out of pushing the sales like dave ramsey. They are done with you as soon as they pocket their commission.
Thanks for the comment, Caleb..........I'm actually making a video out of your comment as there are other things you need to consider other than just the current difference. I hope to have it out in the next 2 weeks.
@@JebSmith looking forward to find out about the "other thing". House can't appreciate 55% in 26month and still continue to appreciate. It will correct in a huge way especially considering the record level of debts in private sector. Everyone i know who bought house in the last 3 years are screaming to keep up with bill payments.
How's that working out for yall now 😂 ,all I see is a dark unemployed tunnel, and foreclosure is nipping at me. I'm a carpenter and bidenomics finally got us😒
Such a great video. We have waited 2+ years saving up money and we kept having our rent increase and cost of living increase. We said no matter the market we are buying so long as we can afford the payment and in the area we want. Closed in April, We went 3.5% down FHA at 7.125% rate. I don't like the payment and rate but I am comfortable with it and we understand this is our long term home (at least 5 years but probably longer). If a crash happens and we end up under water on the home, well we wont move for awhile like the plan is and wait it out, if interest rates go up or hold steady- then we are fine, if interest rates drop (which I think will happen too) then inevitably home prices will go up due to more buyers in the market with not enough supply (depending on the kind of home you want)- and refinance.
Well said! congrats!
Buying the house I'm currently in would cost me $1k more if I were to buy. Instead I'm investing that extra money and gaining exponentially more interest vs all the cost of owning while the house hiccups are the owners problem 🤷🏾♂️
What are you investing in? Is your gain higher or matching at the increase of home prices ?
@@6.2Slomaro What gain in home prices? Home prices are falling this year lol
@@matthewphillips5483 and inflation still continues to go up.
Really? 😂😂😂😂😂😂 Are you really telling people that is ok to buy a house right now? Let me tell you something , I am a MLO, I make money when people buy a house and I say this is the worse time ever to buy a house, never before was this bad, stop just STOP deceiving people because most people don’t or can’t understand how bad it is.
Thanks! when do you think prices will start dropping?
Agree with Logan’s concept: if you have to ask, you should not.
If you’re ready, then you should.
Agreed, you've beautifully summarized the decision-making process for home buying. Generally, that's a great rule of thumb for potential buyers. If you're confident, informed, and financially ready, it's the right time to dive in. Thanks for watching and for your insightful comment!
NOW is the time to buy! Home prices have never been lower and businesses have never been more loyal to their employees. Go for it
😂
haha... and the world's geo-politics has never been more stable!
Stabilize your housing costs by paying $4000 mortgage instead of $2100 rent? How?
I currently have a house at 3% interest. My household income has almost doubled since we bought. Really the only reason I’m considering buying is for a “forever” home. I’m just not sure if the time is right
If your income has significantly increased and you're interested in purchasing a forever home, it could be the right time for you. However, with a current mortgage at 3% interest (which is quite low), I'd recommend first evaluating the kind of rates you'd potentially get now, as well as factoring in other costs associated with the move. This includes closing costs on your current home, moving expenses, and potential increases in property taxes and insurance. Also, ensure to do a market analysis to understand if it's a buyer's or seller's market. Think this through thoroughly before making a decision to ensure it's financially advantageous for you.
I've been looking for a house since 2020. Houses have only gone up and so has interest rates. I'm not afraid of buying a house. Because every now and then in my area houses do drop to about 400,000. I'm still looking and hopeful I'll be able to snatch one up. Houses in my area have always been about 350,000 and up. So I am grateful if I can get something for 400,000 because most prices are $600,000 plus.
Hi @jessywanders8829,
That's great that you're staying patient and motivated in your home search, especially during such a competitive market! Timing is everything in the real estate industry. You're right, even though prices have gone up quite a bit, there are still opportunities to find houses at lower price points during certain times.
Your optimism and patience in finding the right home is commendable. I entirely agree, sometimes good things take time, and finding the right house is no exception.
It's always important to stay informed about market trends and seize any good opportunities - sounds like you're doing just that! Keep up the spirit and best of luck in your home search! Feel free to reach out if you ever have any questions about the housing market or buying a home.
What if I was going to pay cash for my next home and not finance it. Should I still wait?
Take advantage of the high interest and save money to T Bills to get 5.4% interest with state tax free.
I've commented before on our buying experience so I'll save the backstory, but we tried to "wait out" what we thought were overinflated home prices in 2018 only to watch them skyrocket over the next 3 years before we bought. At the time we had zero debt, and money in the bank and a screaming good deal on rent, so we decided to continue renting and building up our savings, but our decision resulted in us paying about 30% more than if we had bought when we first started looking. I also wanted to comment about the credit score, like I stated earlier, we had ZERO debt and my credit score dropped down about 50 points within a few months of being debt free. Now with a mortgage and some credit card debt (less than 5% of available credit lines), my credit score is higher than it's ever been well past 800. Go figure.
Hello @davidnoticiero6728,
Firstly, thank you for sharing your buying experience with us again. Your story is all too familiar, and waiting out price changes in the real estate market can indeed be a challenging game to play.
As for your comments regarding credit score, it's hard to believe, but sometimes having a little bit of debt can indeed increase your credit score. This phenomenon is because part of a good credit score is demonstrating that you can responsibly manage debt. This is why a mix of credit types (e.g., a mortgage, credit card, etc.) can actually bolster a credit score. It shows credit diversity and a history of making payments on time, which are both viewed as positives by credit scoring models.
That said, everyone's situation is unique, which is why it's essential to discuss these scenarios with a trusted mortgage advisor before making decisions.
Thanks again for sharing your experiences. They'll undoubtedly help other viewers in similar situations. Keep watching for more tips and insights!
@@JebSmithwell, a teacher at my mba told me if you have no debet that makes bank or lender ask themeselves why nobody lends you. So yes, you need some dwbet.
CREDIT SCORES ARE THE GAMES OF I WIN AND YOU LOOSE. THE LENDERS ALWAYS WIN, EVEN IF YOU DON'T PAY THEM BACK.
Look for foreclosures!!! I’m in the Dallas vicinity near Richardson, Plano etc and generally in this area even Richardson and Plano each has one decent foreclosure. The general area is pumping out nearly 100 per day but that’s Texas overall. But foreclosures take years to get to the point at which the bank owns them. This is a sign not to ignore if you’re not making ends meet easily.
I’m 73 and will buy a cheaper house due to the interest rates. I’m challenged with health issues and need a particular set of things in my house.
If you can wait there may be an avalanche of foreclosures but you must follow your area. Go to the courthouse and banks and ask for a few foreclosures if you’re well and can do the work.
This is the one place in life where your work can matter but you must stay out for ten years! Only then can you double your money.
I'll wait.
Where are these homes for sale?
I am about to list a condo for sale… i hope there are still buyers out there :)
if the rates go down and you refinance. All the interests that you paid is zero. If you start with 7% on 500K loan. After you refinance for 5%, you will still have to pay for ~488K after 1 year. Even after paying mortgage of 3300 per month. Look at amortized table.
Why in most vids I see not yours specifically but in general, someone is doing a break down on how much you need to make to afford a 500k house and they’re alway using FHA 3.5% Conventional 3% or 5% but never Conventional 20%? It is cause most Americans can’t afford a 20% down?
Good question
I’ll wait and make the perfect purchase. Don’t buy a home cause it’s a house buy something you love
This is exactly what I am thinking now.
I’m about to go under contract but I’m getting cold feet might back out while still can.
My fear is that I will be upside down on an ok home and wasted my one chance to get a great home.
Gotta get a great home now. If you end up upside-down you won't care because you love the home and won't mind riding it out
Some say we are already in a housing crash, but we won't know until the damage is done. If you can afford the payments with the interest rates then go ahead. Lots of people who bought houses at low interest rates are selling under what they originally bought for could be from job loss, but who knows for sure.
What do people really think is gonna happen to the home prices When interest rates go back down to 4 or 5%, that's right They're gonna go up another 100K. In the 80's was common to see interest rates at 15%. Too many people got spoiled for a decade.
except houses werent million dollars back then
Lowering rates will decrease prices because sellers will flood the market to get out from their current home that they are stuck in. Builders will come back in too with cheap money.
This is the worst time to buy if u are thinking about making wealth. But if ur family need a big place and u have to money buy don’t wait.
It indeed can be a tough decision, but oftentimes buying a property should be viewed as a long-term investment rather than a quick wealth generation tool. Needs and affordability should indeed play a key role, as you aptly pointed. Thanks again for taking the time to share your thoughts!
Buy buy buy!!!
The current mortgage rates have cut our buying power in half. We are in a financial position to buy NOW, but 2 years ago our budget is almost twice what it is right now with 7.2% (vs. 3%). When mortgage rates begin to fall, tons of buyers will enter the market and "let the bidding wars begin". So, do I buy my $600k home now and hope to refinance if/when the rates come down. If they don't get back below 4.5%, our mortgage will be astronomically high; struggling to pay our monthly bills. Man, hindsight is 20-20, but I wish I bought in my area in 2019.....low interest rates and a booming economy! Hmmmm...what happened? 🤬
You said paying off debt can hurt your credit score how is that possible. I'm tired of hearing everybody say The interest rate the interest rate doesn't matter it's the price of the house The prices are all time high you never buy anything when it's at the old-time high. Save your money for a down payment Americans just don't know how to save That's the problem save your money put a big down payment and you'll have no issues.
The idea that paying off debt might 'hurt' your credit score is primarily due to how credit utilization and the various types of credit you have, factor into your overall credit rating. Sometimes, paying off a loan might cause your score to dip slightly for a short period, particularly if that loan was the only instance of a certain type of credit. However, don't let that discourage you. Over time, a debt-free status is indeed more beneficial.
Your point about house prices and interest rates is well-taken. It's all about making the right move at the right time. However, interest rates do play a key role in determining your monthly payments and the total cost of the loan, which can't be overlooked.
Your advice about saving for a down payment is right on the money. As an experienced Realtor, I agree that having a substantial down payment can ease the loan process and reduce long-term financial burdens. However, it's also key to understand individual circumstances, market conditions, and strategies. Not everyone's situation calls for the same plan!
What’s your opinion on bidens housing statements during his speech. The whole sell/buy I give you 10k and taxes.
I'm 2 minutes into this video and this guy has done nothing but blow smoke and express one small principle that any knowledgeable home buyer would know needs to be contrasted with two or three other principles. There's so much great content out there. Why watch diluted grey water...
Thanks for the support.
Just like the crash bros theres a lot of speculation here as well. A lot of use of the word "could" watch all videos. See what information is best valid for your situation. Compare and contrast difference of opinion. Not all is right....not all is wrong. Dont be a dummy and try and time the bottom. If the home fits something you can afford go for it with the expectation that it wont get any cheaper. Property taxes and insurance dont go down. You refinance then you reset the loan and most of your payment goes back towards interest. If you plan on selling in the future it doesnt make sense to pay extra towards the mortgage depending on the time frame. If its your forever home make an extra payment a year and that should take a huge chunk of interest of and make the loan term shorter by at least 7 years. Consider all variables and choices. The biggest purchase of your life.
Buying a home makes no sense right now. Rents are way cheaper almost everywhere. And the whole "fixed costs" mean nothing if the costs are fixed at rent rates 10 years from now.
You are absolutely correct that in certain markets renting can be far more economical in comparison to buying. Nonetheless, in other instances, buying can provide significant benefits such as equity accumulation, tax advantages, and the freedom to personalize your space. It's also worth noting that while rents WILL increase over time, a fixed-rate mortgage keeps your principal and interest payments steady.
Ultimately, the best choice depends on an individual's financial situation, long-term plans, and the local market conditions. It's always a good idea to explore all avenues and make an informed decision.
Fixed rates will not be at rent rates the next 10 years. Fixed rates will become less than rent much sooner than that while also creating equity over time in your home
@@aviationnerd7806 Please lend me your crystal ball.
@@aviationnerd7806 Not true unless you are dreaming that home appreciation continues at recent levels.
I'm sorry but homes in America are now 4.6 times the median income. Unless you are in the top 12% of earners, you can't afford to buy
wait, crash is coming soon, then houses will be really cheap
Try telling that to homeowners. Nobody is going to accept less for their home unless they can’t pay the mortgage and are forced to sell. Don’t forget 90% of the homeowners locked in extremely low interest rates so even that’s prob unlikely. My guess is homeownership will get even harder to become a reality for most people as the years go on.
@@McNelisG I actually think lowering of the rates is going to make prices go down. Think about it...all these owners that want to sell but cant because of high rates and then rates drop so sellers list and supply increases rapidly (along with builders coming back in)
Wishful thinking. Prices are going up now, they’ll go even higher when rates drop. Homeowners don’t want to sell. Get a house while you can.
And now no commission for buyers agents- lol
Buyers agents will still get paid.............the problem for many though is that it's coming out of your pocket versus the sellers which puts housing further out of reach for you 😮
@@JebSmith Who cares? I'll be a millionaire one way or the other. Whether it be through real estate or index funds.
If you’re on a fixed income, buy a cheap house online in an area where there’s no jobs
im about to be 28 and wanting to start a family however I have seen over 20 homes this year and have no chance against these all cash investors loosing hope here 🙃
I completely understand your frustrations - it's a tough market out there, especially with all the cash offers flying around. But please, don't lose hope. Your dream home is waiting for you. In the meantime, strengthening your offer and leveraging pre-approvals can make a big difference against cash buyers. Also, working with an experienced realtor could provide you with valuable insights to help you succeed. Remember, buying a home is a journey, not a sprint. Thank you for your comment and for watching the video. Keep going, your time will come!
Wait a year and buy a foreclosure.
Come back in a year and let me know how that worked out.
@@JebSmith Are you a realtor? You are seriously encouraging people to buy at record high prices and highest rates in decades. Only a fool or a shill would offer such bad advice.
I'm going to buy when the people buying now get their houses taken in the coming recession
Better cross your fingers with that plan. Might not work like you think it will lol
@@aviationnerd7806 I have no issue leaving my money in stocks
It's going to change when we get a new president
What change are you expecting?
It wont change unless people stop moving states and keep buying.
Number go up
Wish my house was worth nothing so my property taxes will go down. If you buy a house, you’ll be a slave for 30 years making that payment and there won’t be much left to do anything else besides go to work pay for your house go to bed go to work pay for your house go to bed go to work pay for that house that’s it Life Good? Life Getting Better?
No one talks about the husband works his tail off to buy the house then next thing you know the wife comes and gets half of it per divorce laws….⚠️⚠️ No thanks. It’s just not worth the risk especially now days when the rent is cheaper than to buy ⚠️
For many, renting may seem like the safest and cheapest option, and for some people, it certainly is. However, it's also worth noting that home ownership comes with its own set of benefits including potential for value appreciation, tax benefits, and even pride of ownership. It’s important to take into consideration long-term goals and financial situations before making the leap. And as for the marital aspects, communication and mutual understanding between couples is equally key to ensure that both parties are happy with their arrangement, be it with the purchase of a house or any other shared financially significant decision. Either way, your viewpoint is very much appreciated.
Here’s the thing, rent is not going to be cheaper in 5 years from now. You buy a home now, your mortgage says the same, while rent continues to increase every single year. In 30 years, you will be don’t with your $2500-$3000 per month mortgage, but rent will cost $10k per month in 2054.
@dotcom721 prenup doesn’t apply for the house when the wife gives birth and raising the kids at !
@@jesse_- S&P500 performs extremely bullish on price/profit action than real estate 🏡! I’ll Rent cheaper and invest that difference money mortgage 💸 in S&P500 every time it’s seen a pull back 👍
@@jesse_- Oh no...someone never heard of a rent controlled area. Oops!
I’m pretty much disappointed in this video. I do feel like there’s a part of Jeb that becomes a big-time sales person. Instead of telling people it’s not a good time to buy because we all know that home prices are going to go down and you will lose equity if you buy at this all-time high, he’s just saying market will eventually, appreciate. Time fixes all real estate problems, but some people don’t necessarily have all that time and they want to be putting their money to work. , If you want people to respect you, be honest about the current situation instead of still advocating for purchase when it’s clearly not a good time
Different circumstances may indeed call for different strategies and the right move would largely depend on someone's personal financial situation, goals, and timeline. Timing the market perfectly is a very tough task and can often lead to missed opportunities. My intention, however, was not to persuade people to buy regardless of the situation, but to present the consistent long-term appreciation in real estate as a potential benefit for buyers.
@@JebSmith Why does every financial expert ever say to "diversify" but yet realtors always tell you to put your eggs in this massive basket called "real estate"?
He literally said buy when it's the right time for you personally. He wasn't just saying buy buy buy. Comprehension is key.
As an asylum seeker in the USA, I got a free home.
This is one of the most ridiculous videos I have seen in a long time. Anyone who has both sides of their brain working knows this is not the time to buy. Your life should not be controlled by your credit score.
Well the right time to buy a house is when you’re ready not when someone tells you, far as credit it’s important to stay on top of it because you pretty much need it to make large purchases not too many people have $100,000 laying around. Why are you being so negative it’s his channel he can talk about whatever he likes, he just giving advice
What a clown……😂😂😂
Why say something like that , he always give out good information.
There you go, 10 seconds in and I know I have to disregard or at the very least put very little stake in the rest of your video.
You are one of those illogical people that says the market WILL NOT CRASH... 🙄
Just save the channel name and come back next year and let's see how it plays out.
@@JebSmith a year? I am not buying a house and selling it in a year. So a year timeframe is not what anyone buying a house should be looking at. Anyone with any sense would be looking at a 5-10 year timeframe from the day of purchase. (Which is a VERY reasonable timeframe to think that the market WILL crash)
@@A.M.A.D.E.U.S.so you are going to wait 5-10 years for the market to crash before you buy a house. The money you will waste renting will be worse than any crash.