Housing Market Crisis Unfolds
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- Опубліковано 13 бер 2024
- U.S. economy continues to create a housing market crisis. Hear what these experts have to say.
#housingmarketnews #realestatenews #useconomy
@realestatemindset
@m3_melody
@NobodySpecialFinance
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
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Highest house prices EVER! I’m sick of it.
At almost 60 years old, my wife and I are buying our first house. We did everything right. We paid our bills, we saved our money. We have a great credit score.. And the whole world has turned upside down.. It's a deep problem in the USA.. We have looked at dozens of houses trying to close the deal. These people don't even take care of their houses. They're falling apart, and they're not even that old. It's terrible. But they all have the latest iphones. The fastest internet and they take the best vacations money can buy.........man how we've lost our way.
You're so right, so many people don't take good care of their home anymore, they barely even clean it
Fake equity . They over paid. Corporations bought up many homes.
Homes are not investments. They are liabilities.
We are in a recession, back in 1977 12.00 an hour was big money to buy a house. 15.00 an hour, your not buying a house. In 1977 houses were 30,000. Big difference taxes 1000.00 a year homeowners insurance 125.00 a year. Big difference. 3.25 was minimum wage. People were making 4 times minimum wage then. You would need a 60.00 an hour to make that scenario again.
This one made me lol. Someone close to me bought an extremely overpriced home in the last couple years, still has a playing card table in their dining room, but travels like a virus 😂
I cannot thank you enough for reporting your version of what's really going on. Most of the people I surround myself with relate. The others watching mainstream media think I'm touting conspiracy theories. It's the latter who keeps me up at night. Better to prepare than react. Again, thank you...
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What are you preparing for?
He's wrong about Ramsey. He always says rent until you can comfortably buy. And then buy a home you can actually afford. Anyone who's done that over the last 20 years is in good shape.
@marciamakoviecki3295 with all the information about what's really happening with the market, I'm planning on the possibility of the USD value fall, bank crashes and just about everything honest economists are telling us can happen, in the not so far future.
What a panel! Nobody Special Finance, Real Estate Mindset and Melody Wright!!! Epic show, thanks!❤❤❤
Thank you so much for watching!
I believe the #1 thing that is affecting affordability is the corporations/investors buying up single family homes. I believe that is the most contributing factor of low supply and rising prices! It’s sad and corrupt. Corporations should not be allowed to buy single family homes. They need to build their own communities they can rent, not take existing homes from families that need them…for profits! The greed is insane!
Whoa I think your onto something. Let there be zoning for residential/commercial for businesses which is your typical suburbs design for profit. And then you have a residential sector of inhabitants for families/stability and those can be like dense living areas.
Black rock owns everything they say. Housing I am sure is part of it
Agreed
I agree with you. Fortunately, higher interest rates, and lowering rent prices are slowing that a lot. I think there's a place for them to buy homes to rent out, but it should be limited, by cities, to a very low percentage of homes. VRBO's are already being limited, and or taxed in some places. So, that's a good thing. Plus, many of them aren't able to get enough people to rent, now, and they will have to sell them, or foreclose, if this keeps up.
Unfettered immigration is creating demand for housing. While very few are buying houses, general demand for housing decreases relative supply for all housing. I do agree corporations are causing increases, but ultimately, it is the increase in people desperate for roofs that makes people sign contracts for rents or mortgages at 40% of income. Corporations wouldn't buy if there was no demand for people to rent.
Great video. My wife and I bought a townhouse in January. Houses here in most California are still selling pretty quickly. It is crazy how your state population can go down but your home prices still go up >.>. My wife and I are working too hard, making good money, but we have hardly any vacation time and the money just keeps shrinking........ Most people I know are debating on having kids or planning on only have 1 kid because of costs. How is this good for society? Tucker Carlson was saying, we have a decreasing life expectancy, lower quality of life, and people are having fewer kids. What is going on? (I like everyone else knows, all the proceeds of efficiency are being monopolized by the top and the corrupt.....)
It's all intentional. The Globalist believe less people will lower the carbon footprint of the world and save humanity from Climate Change.
No kids or have one will benifit you. Really, you don't need many kids. They will face tougher and tougher life in the future.
People are financially illiterate which is why 60% of the population doesn't have $1000 in savings. So much for public education. It's terrible.
Not by accident either..
That’s planned
Education is not supposed to teach you to be Successful in life. It's there to turn kids into Working Drones for Life for the Elite and nothing more.
it's also a combination of cost of living not matching income. most folk are check to check
That’s a crazy statistic but I can see a lot of people live pay check by pay check every week.
What a lineup! Enjoy all the collabs lately to bring folks the truth
In my 62 two years on this planet, I haven’t ever witnessed anyone as sincere as Todd Sachs and his team have been, in Providing honest, straightforward information. Such a huge asset to us as an American community. He raises the bar regarding the real estate market industry.
Thank you 🙏
@@SachsRealty You’re welcome.
It's amazing how many people don't think there's a residential real estate bubble.
It may not matter. Corporations have money and they will rent them out. It doesn’t matter if people can afford them or not. Unfortunately this seems to be the business model now. 😢
💯
You can’t have a bubble when we are 4 million single family homes short of demand. This goes back to 2012 when the shortage began. In addition to that you have AirBNB homes, an increase in investment buying for rental properties and most cities don’t want affordable housing neighborhoods. We are short of construction workers too.
The bubble is they are overinflated and no one can afford them, flip them, buy low sell high, Airbnb and short term rentals cut supply even more, so no one is gonna pay, just like 80 percent commercial real estate, so you have empty buildings rotting and homeless in tents, and expected to literally Triple by 2030, that's 5 years, so investors can "make a profit", or 80 people in a cellar, taking shifts with 40 beds, at 300 a month each, or ten people roommates living in a single fam 3 room with bunk beds, or a rv trailer, a property owner with empty buildings just let 50 migrant families in, cuz the govt is paying, or jobs 30 percent off migrants, tax cut, and tax free "worker housing" for said migrants, at 15 and hour, 52 thousand people nationwide, and people living in their cars have to pay rent for a parking spot, and yes still since 2008 recession, or plus covid too, so they have to either cut the price, or forclose, besides taxes, less revenue less services, so now prop one is involuntary institutionalization with conservator ship and "for profit" medical, pallete villages with one outhouse for everybody or April 22nd criminalize homelessness scotus and debtors prisons, even Florida just outlawed sleeping outside, and NY tried to do the same exact thing, besides make a buck, they have spent over 10 million dollars on only 5 people since October, before passing involuntary prop one, and firehouses have an infant surrender drop box, like a book drop at the library, besides HOME, work, or school, plus town hall, church and family dinner on Sunday 😷☕🇺🇲 so.... during sub - zero temparutures, a church in Ohio, let 100 people inside, overnight, and got charged with 18 felony counts, for violating zonng laws, besides the "shower to empower" van, outside, every single Tuesday morning, once a week, for over the last 15 years now
And corporate bailouts, and bank bailouts, etc, TBTF, besides "home sweet home" or a safe place to lay your head, then inflation, interest rates, buy now, pay later, besides food liquids or a toilet,and no toilet paper, God Bless America 😷☕🇺🇲👌 now all the layoffs are coming this year, besides seniors or children, recession hy summertime, and interest rates and inflation may start coming down by summer 26, besides tread water until then, when people are already drowning, and only one emergency or one check away from the same fate, besides a death, an injury, a flat tire, a job loss, or your house burns down because your neighbor doesn't know how to make toast
The most honest people in the Real Estate industry. Missing Orlando Miner & Reventure Capital. Anybody else is biased because they want to be popular or probably sell you a course. Thank you for everything you guys do for the average American thank you for not trying to take advantage of people.
Most of them other goofballs. Real estate UA-camrs have flipped flopped. So many times its comical.
The Nobody Special isn’t always honest. I called him out to hold him accountable for his inaccuracies and hypocrisy and he tried censoring me!
@@EmilyGloeggler7984 what did he say or do that you considered hypocrisy? I’m more familiar with Travis and Sachs Realty who are always giving out honest free game.
For obvous reasons, you wonderful, kind people talk about your country. The sad thing is that this housing and social crisis are happening everywhere. There isn't a single country that's not facing a major housing, bank and social crisis. It should be interesting to create a panel with realty investors from all corners of the planet, and this round table would try to find out what are the similarities between all these nations. Maybe this way we would come up with a solution. For example: here, in Portugal, we have a demographic collapse, overevaluated houses, low wages, huge inflation, airbnbs, exreme right wing and extreme left wing movements rising, among other things. Does that ring a bell? I really love your show, and may God helps us all.
the solutions are obvious and actually very easy to obtain....the problem is the elite do not want solutions and therefore are perpetuating the whole thing (yes, worldwide)
Bless ya Sandra and all your wonderful people.Denny in the States.
Great channel, never miss a video.
Keen to hear the opinions from this panel.
I’m a new dad, I moved closer to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
this is all new to me, where do I find a fiduciary, can you recommend any?
just search Monica Mary Strigle. Pretty simple with sophisticated looks but has empathy for her clients and takes you on if are ready to explore the business model she presents.
2023 Jan, sold our Oceanside CA condo due to rising costs. April we sold of FL Island townhome due to rising costs. Now living in our home I bought with cash when we were 24. Now age 72 and spend on insurance, booze, South American vacations, and food. We never thought the USA would fall like it has.
"Give them bread and circuses and they will never revolt.” - Juvenal. Basically they kept people distracted while they slowly took away freedoms(usually in the name of safety). The politicians in collusion with major corporations have been slowly milking every last drop they could out of the middle class. The older generations did not notice it and called the younger generations lazy and entitled when we entered the workforce and quickly realized how bad things actually were. They moved too quickly over the past few years and accidentally woke up too much of the population. Unfortunately it's not enough for a revolution... Yet. As the older generations start seeing their wallet and retirement income shrink they'll wake up.
cornpop
@@williamweaver8621 this is exactly where we knew we'd be at year three, lol.
This is reality ..: Too many factors affecting home affordability.
The main factor is the FED and government printing money, it's not that the home prices are going up, it the value of your money is going down.
All of my favorite people on one video -Awesome!!
Just a greater divide between the haves and have nots.
Exactly and it's soon going to get to the point of no return if it hasn't already. A country that develops such a divide usually doesn't end well.
@@Resmith18SR this is sooo true!
Excellent panel! Keep up the good work guys 👍
Genuine question : these guys have been saying these things for a while. All while houses are going up. Aren’t people listening to these guys losing out ?
@@sb27500 these insane prices can’t go on forever… at some point, something will have to give
The more people believe nothing will actually happen, the closer it comes to happening. Nothing ever happens when folks are on alert. It happens when complacency sets in.
I believe we are nearing the complacency stage.
I stay Alerted with every new upload for most of this panel. Thank Sachs Realty for showing every viewer the experts to which we can Trust.. You guys are doing a great job.👍
I currently live in Menifee ,ca ,I have been trying to purchase my first home but the prices out here are so ridiculous and the interest rates are insane , if I locked into a mortgage like this I will not survive and I will end up loosing my home . Thank you for clarifying this , a lot of agents here still say it’s a buying market but really it doesn’t add up . Corporations have built so many new homes in this area it’s insane. I’am currently in the process of taking my real Estate exam and I can’t wait to help people the right way and educate them because I haven’t been able to. Thank you so much I learn so much.
Excellent video 👍! I will listen to the professionals in this video 😊. These professionals are save US citizens lots of money! ❤❤❤❤❤
If you work at Costco 9 to 5 7 days a week u sure can't afford a house but the guy who has the ability to go to the bank n borrow half a million can out bid you on any house sale. The system promotes predatory behavior like that. No one should be buying 10 homes with money they don't have. Like Jack said, down the road when the economy crashes we all pay for it with our pensions being wiped out, while these new gurus live a lavish lifestyle in the present, getting loans from the banks with no intention to pay back. And what's the worse that can happen file for Chap 11 when u can't pay n start the cycle all over. This is madness.
Question are you mad at the player or the game.??
I'm waiting on the sideline as a first time buyer. Good job
I wish you the best.
You're screws my dudes
@@Truthmoses if by "sideline" he means he can easily afford a home but listens to goofballs like this, he will need it.
I have owned three homes. Prices are insane so I'll collect in interest and wait for prices to come down
@@faithsrvtrip8768 yeah man that's how people should make home buying decisions. Based on treasury bill rates that will be 0% within a year and a half. Genius move!
It’s 3:00 Am And I’m Tuned In, Currently In Austin Which Is Ground Zero. Had 14 Properties In 2007. This Market Rhymes With Multiple Cycles All In One. 1931, 1981, And 2008. Noticing Property Taxes Increasing $20k In 1 Year On Certain Houses Here. Renting Til The Dust Settles.
do you see places like Austin, which is a seeing and influx from Cali, crashing like 2008?
Why Do You Capitalize Every Word In Your Sentence? Is This A Title?
18:09 Listen up! This is the most valuable perspective
Anyone that tells the truth now is ridiculed and labeled with whatever status quo words that the under bellies glom on to...your doing a great job....I'll call you a name....TRUTHERS...GOOD GUYS!! Keep up the truth - God says its the only thing that sets you free.....
When the term "middle class" first appeared in Europe in the 1700s, it only included wealthy merchants and manufacturers. The other 85% of the population were just poor laborers and slaves. Looks like the "you'll own nothing and be happy" is just history repeating itself. And if you think homes just HAVE to be affordable again because it's always been like that in the US or some Reventure Consulting chart is showing you that, think again. In Europe, most people live in apartments and rent, it's very rare to own a house and land. When a country loses its currency, it also by default loses its living standard. There's nothing stopping us from living like people in Europe now. They lost their world power status centuries ago, now it's our turn.
Well said
The majority don’t own anything now or have. The banks own everything and the government owns the banks. Everything is financed.
Excellent. the only real estae Truth Tellers all in one room ❤🎉
Now let's watch Michael Zuber join the chat LMAO
I enjoyed this free talk show tonite, thanks, Sachs
The wrap up at the very end about what keeps you up at night really hit home. Those are my nightmares.
great lineup and outstanding discussion. Thanks for this Todd!
5:16 Red Sea crisis. Imagine if America was energy independent like it was under 45
It is weird. Agents don't talk on the phone anymore. Mid 2000s when I was in the game, we were constantly on the phone and I wasn't that busy of a realtor. Moreover, they don't even return calls; even emails.
My agent uses smiley faces responding to the builder's emails and condones everything they do. It drives me nuts, there has to be a bit of fear in the person that represents you. Using smiley faces just tells the opposite side they can walk all over me. I've had to overcompensate for her childishness by being a bit difficult and acting a bit bitchy, but it's a mess to have a realtor who acts like a soft child.
True! I would say this last year, I only answer if I recognize the ph. number. I just wait for the VM, then call back if it’s legit. It’s unfortunate, but because our numbers are public knowledge, we get spam and sales calls and texts all day.
The information you provided here today is troubling. But I know you have peoples best interest at heart and I appreciate you giving us useful information to make informed decisions when it comes to buying real estate.
I think it’s multiple things that will destroy the economy
One huge fundamental thing that is not mentioned is the U.S. must roll over 10 trillion this year, with almost no bids on treasuries, rates will be forced up, and massive money printing will take place to refinance the debt ,creating massive inflation
It's turning into the perfect storm, for sure.
I thin big retail layoffs with workers losing health insurance will affect nurses & colleges graduating nurses, to affect housing market.
Great discussion, great crew!!
Thanks for a great discussion!
LOVED THIS SHOW!! but they are always all good.
I don't get it. Each month for the last three months the Zillow, Zindex on my house keeps increasing and yet I see virtually No single family houses for sale anywhere for miles around? New computation? Algo?
Right? Mine has shot up $17,000 on a now supposedly $152,000 property!
@ crimestoppers1877 • Didn’t you just say that, because you don’t see anything up for sale? Well, then that drives demand up, which then drives prices up.
I don’t understand how Wall Street is going high with the average person struggling.
Great show guys. Thank you for all your knowledge and educating the public. Only wish I knew all this years ago. 👍💕🇺🇸
Amazing and informative interview as usual. Thank you Todd!!
What an outstanding 27 minutes of truthful insight of what's going on out there!
I am glad that I found this channel because I’m looking to buy a house but everything is so expensive and I’m heading towards retirement and I do not want a big mortgage. Thank you for speaking the truth on this channel and I will subscribe.
I have owned several houses during my lifetime. My present house, 4/3 w/pool, was purchased in 1997 with cash... NO Mortgage. Wife & I are staying put & hunkering down. I believe this economy going forward will get worse. We live in Florida and would like to relocate. However, due to ridiculous housing prices in GA, TN, and SC, that option is presently off the table.
George I have been looking at hoes in Ga, depends on the market the homes are cheap IHO
Imho
The speech at 23 minutes in, I never heard him say anything about throwing away all the free equity he got when printed money propped up the housing market. They take advantage of the very systems causing these changes in mindsets of younger generations who have no intention of paying off debts, etc... The old people cashed in , put in zero work to make that happen. And turn around and scold the younger generation, it's kind of laughable
Thank you
Thank you once again for "the realist" solidarity.
Are you looking to buy a home?
Love the panel idea!! Melody is my favorite! Jack n Travis r great guys
*Thanks for this video! I feel sympathy and empathy for our country's low income, people are suffering to survive. I appreciate Mylah Evander you've helped my family with your advice! Imagine investing $1.5k and receiving $5k in 4days*
No doubt!! I never knew Mylah Evander had gone viral. I decided to back up my assets and property with her when we met at a conference in New Jersey for the first time.
That woman totally changed my life for good. I have come across individuals but none is as honest as Mylah. So surprised you know her too.
*SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME*
*MYLAH EVANDER*
Exactly, I can testify more of that,get the application installed and search her up at the name above, make sure there's no added letter or number.
Should we buy a house now? That's not even a question because nobody can afford a house now that's not even an option.
Wonderful video
What a great and informative video. Everything discussed here was 100% my sentiment on the economy. This was just a perfect description of everything going on right now. I’ve been following Travis for a long time on UA-cam and am happy, to be introduced to new people I can get true , accurate facts and opinions from. Thank You for putting this together and I look forward to watching more videos like this. On a side note, this isn’t doomsday content. It is the reality of what is going on in this Country and the world. If this resonates with me, it must resonate with millions of other middle class American families.
All I see are price drops in SW Fort Worth texas. Thank you guys for the info and hard work the past 2 years
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
Jack's closing remarks are deep and very true. You have all these supposed millionaires doing seminars teaching people how to borrow money from banks buy 1000 properties, refinancing and collecting cash and in so doing out bidding the ordinary every day buyer just looking for a place a stay. It's a complete mess. The prices keep going up bcoz a few people have the ability to borrow money and buy houses they don't even want to own n if the business fails well they can just file bankruptcy and walk away. That's insane. We'll NEVER fix the middle class crisis or cries for fair or cheaper housing as long as this strategy of getting free money from the banks n buying 10 properties remains in place.
Great discussion!
What an awesome panel discussion!
And enjoy these shows. But the ads- oh my!
Hey! Only one missing is Orlando.
What a panel! Thanks for doing this.
Great lineup!
Great episode thank you!
Pure Gold! Thanks guys!
Great video, and excellent panel discussion!
Real people talking sense
You guys rock!!
Great Points all around. Underlying economy issues, Bails out, max out credit, Bad agents. Nailed it
Awesome episode, thank you!
Florida housing & rental markets are about to break because most of the home prices & rent rates are unaffordable!!!!!#MarkMyWords
Thank you for informing us.
great show!
When was this recorded?
The Fabulous Five!🌞
Great Idea!🌞
Good job!!!👍
Sending prayers for our country ❤🙏
Great video!
I really like the panel!
DTI ratio for rent is 50% or higher just to pay rent. The realtors have driven up housing prices. I would trust an appraiser, never a realtor when it comes to the house price. The banks look at the comps for underwriting. This from a mortgage broker, myself.
This was a great show! Lots of insight. 👏👏👏
The only reason the 90% have any quality of life now is due to credit. Shut that off and watch out below straight off a Cliff. This sentiment is shared by my 70 year old bookkeeper mother who lived through many cycles including Stagflation.
I know a person-with a PHD in economics. The bottom is going to fall. The housing bubble is getting ready to burst severely going to cause people to lose there homes. If your holding fiat you better invest it properly.
Excellent panel...Love Jack
Thanks for this grounded analysis, great panel!
Excellent content.
Thanks for the intel! it would help if you offered some advice to prospective homeowners at the end, though!
This was such an awesome panel and interview. Please do this again soon and for more than one hour. Thank you, please keep it up!!
Very interesting. Not a very rosy picture. I am an old guy who grew up in fifties. Very different world today. It looks like the good old USA is heading down the tubes. Lucky for me I retired to Panama 24 years ago. If I was a young person I would save up as much money as I could and leave. Go somewhere where life is easier.
Heavy hitters on deck. Great stuff dude 💪
You're missing one person that is right in your guys' wheelhouse - @MichaelBordenaro
Great show, I just wish it was longer. Everyone had great input and the closing comments were deep from everyone. This is exactly the middle class sentiment. The social fabric of this society has been ripped apart. Just lawlessness, immorality, and useless consumption. Rome 2.0
Great job of hitting all the main points everyone 👏 👍 Very bad situation for our next generation of homeowners for sure!
An upside down headline for this podcast!! 😊
All of our faves in one place!!
You people care, thank you. Please do this again after the situation develops a little further. My neighbor has not been able to sell his house and it's been months, never saw that before in our neighborhood. We now have serious crime too.
Thanks for your comment. What state do you live in?
Awesome video!
💪next time you need to be with us.
@@SachsRealty 100%
"There's a lack of integrity"~Travis
That business about Travis' socks was a classic east coast vs west coast moment
FOMO !!! I have two co-workers who just bought a house a year ago. Their payment are 4000, it's going to be tough to keep up the payment.
An amazing honest discussion
All my favourites together
BONKERS!