I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
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 advice but get buying, cash isn’t king at all in this time!
@@MaryLawson874 I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@roxdietren bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@@AlfredStephen127 The decision on when to pick an Adviser is a very personal one. I take guidance from Claire Robert’s Durand to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@roxdietren I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Everyone's been promoting investing as a source of passive income, but with a 70-hour workweek and limited financial knowledge, how can I stay on top of things? Every UA-cam video says "BUY, BUY!" but when and how do I sell for profit at the right time?
Well all i know is that you cannot go wrong taking profit at near high. No one ever went broke taking a 10% loss. It's best if you consult with a fiduciary advisor to get informed buying & selling decisions
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Housing crisis triggers a market crash or a financial crisis, it could send shockwaves through the stock markets worldwide. I’m worried about my investment of over $600K stocks. Is this a time to consider diversifying my portfolios?
If the housing market takes a hit, it might lead to reduced consumer spending and overall economic instability. I advice you consult with a professional about your investment portfolio to enable you to take advantage of the downturns.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
My CFA ’Annette Christine Conte’ , 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.
*The Rich stay Rich by spending like the poor and investing without stopping, then the poor remains by spending like the rich yet not investing like the rich*
There are scammer but real brokers are also out there, Thanks to Mr Alvarez Harry's time in my life which had a profound impact on me he's a life changer
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
My CFA NICOLE ANASTASIA PLUMLEE 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..
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, 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.
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.
Amber Dawn Brummit is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market.
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite a while now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
“Jessica Lee Horst” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with the popularly ‘’Amber Michelle Smith” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Is not the Interest rate as much as it is the Over Inflated prices! I bought my house for $200k in 2009. Today? I couldn’t afford it at $550k. My parents bought their house at 9% in the late 80s but the house was only $85k!
Just had this happen to me. Had to take our home off the market, because everyone is getting denied due to high interest rates. Buying a $1M house at 3% with 20% down, means a mortgage of ~$3k/mth. Now buying the same house with the same down payment at 7% interest rates, means a mortgage of ~$7-8K/mth. It's ridiculous that the fed keeps printing money and send it overseas to back wars and all Americans are paying for it in every aspect of their lives: grocery, rent, mortgage, retail, etc...
Mortgage rates are not the issue. 6-7% is fairly normal. Homes listed for $700k that were bought for 400k 4 years ago is the issue. Homes prices need to come down at least 25% -30%. Too many fools overpaying keeping greedy sellers from lowering prices.
YES! I live in Florida, specifically South Florida, and can confirm I saw houses on the market last year that were purchased in 2020 or 2021 for 250% LESS than their current listing price! What?!?!? Anyone who doesn’t look at THAT part of the listing, the previous purchase price, and you don’t see that any renovations have been made in those 4 years (or hell, since the original build of the house) and the roof or HVAC is 10 plus years old, should not even paying 50% more than the house value in 2020/2021- F that, I will continue to rent, because that is absolutely guaranteed money lost.
@@robertd1500Eh, not entirely true- I’ve been watching the market in South FL, and prices ARE coming down. But as of last year, they were 100-250% inflated from where they were in 2020/2021.
People are so clueless it’s not the rates that matter it’s the current evaluation on the home. If you over pay on a home you’re screwed. If you buy a home with a high interest rate at normal price evaluation then you could eventually refinance later. YOU CAN’T CHANGE THE COST AT WHICH YOU’VE BROUGHT A HOUSE!
Yup. That is precisely why I am holding off on buying. I am in Florida and I refuse to buy a house that is at a 50-100% inflated value compared to what it cost in 2020/2021. Last year, I was seeing prices that were like 250% more than they were purchased for in 2020/2021. Im not playing that game. ESPECIALLY when the kitchen and bathrooms look like they came with the original build of the house and the roof and HVAC haven’t been updated in 20 years. F that. I’m not losing money because people have insanely inflated their house value.
@@HeidiWillToWini hear you BUT have you figured in how Inflation is devaluing your money every freaking day. I doubt prices will return to 2020-21. Owners refuse to accept they missed the peak and won’t sell. Truth its a crap shoot
@auroranite they are hoping lowered interest rates and the government, allowing more foreign investors to buy houses to sit empty, creating a falsely inflated market.
Home pricing HAS to return to pre-2020 values and lower - interest rates are not the problem. Interest rates can lower once the “market values” return to reasonable levels.
With the high number of mid-20th century homes in Florida, they will need to cut prices by over 200% to make it even reasonably feasible. A house built in 1962, with 1200 ft², even with a modern update, unless you're in an incredible location, you'd be crazy to pay over 200k
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@@ebutuoy5088 that is not what happens. The Fed cuts rates because they need to, not because they want to. Rates are falling in response to crisis, usually a destruction of employment rates. Mortgages may be 3% again, but banks won’t lend to anyone working in tech, service, or any other long term risk.
There is a housing bubble, a credit card bubble, a car debt bubble, stock market no longer reflects actualy economy. Shit is going to crash real hard one of these days
because he’s in the insurance industry. the guy is a scumbag and is out of touch. I cant even watch the show anymore because it’s just so ridiculous. clueless
I officially can't take Tom serious. 2 years ago applauding the rate hike. Everyone knew lowering rates causes this chaos and price surge in housing. And then now says rates should come down to "help" affordability? No sir. Rates should co tinue to climb. Prices coming down helps affordability. Prices true value, and not artifically propped by low rates. Ive respected Toms opinion a lot. But he spoke circles on this. Dont point to higher rates as the cause of affordability. We all know QE is the root of this.
From a financial perspective, if people are consuming less food, it could lead to weight loss. However, this reduction in food consumption might also indicate economic hardship or reduced spending power, impacting the overall economy.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
I currently have $400K in equity in my home, and it's my primary asset. Is the suggestion here to sell now, cash out, and hold onto the funds until the housing market declines? What would be the best financial move in this situation? Any advice would be appreciated.
@@ErnestZDodson You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
@@ErnestZDodson I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
I'm trying to avoid new buys now in order not to get stucked into a bear trap. On the other hand, I'd love to know best possible areas and ways to invest amid downtrend, my goal is to retire comfortably at a ballpark of $1M
Such a genuine personality!! He is really a good investment advisor. I was privileged to attend some of his seminars. That’s how I start my crypto investment.
We went through the last housing crisis in 2010. Lost our house . We ended up regrouping rented cheaper , got out of debt. Bought land in the country side , built a small cottage house for our retirement, we lived in a RV while we built and did most all things ourselves. Now we have a beautiful piece of land with a beautiful house paid for , land paid for other then land taxes every yr. We have a garden fruit trees . We are set to manage our retirement on a smaller income. And the housing market doesn’t effect us anymore. My land value is always going up, but our investment isn’t ties to the housing market, because my land is where my value is .
US economy is done. There’s no coming back from this. Bankruptcy is on the horizon and the dollar will collapse. Hard times coming for the US and it’s deserved. Our politicians have gotten rich and reckless with our tax dollars and we let it happen.
💯!!! Everybody’s concerned about all of these market bubbles, but don’t take in consideration our national debt bubble that props up those other things. When it does happen, it will have a global effect due to other countries dependency on our dollar and purchasing habits. It not going to be petty.
@@MusicLover-tu8zc if someone throws a rock at your head and mid flight you can call it what you want but it’s still going to hurt. The US is like a high risk stock. There is a huge potential for gain, but that also comes with a huge potential failure. We are not ready for it and don’t seem to care.
Loan officer here: Yes, we look at your dti(debt-to-income ratio) in order to qualify someone for a home. But there’s no way the qualifying ratio is a 30-35%. It all depends on the loan type and lender. For example, an FHA loan allows a borrower to go as high as 59.9% in the back end. Now is that a logical way to purchase a home, no but it’s doable. Let’s start give the correct information out there guys.
Agreed. FHA to 59% Conventional to 50% with approve eligible and CRA Jumbo to 45% sometimes higher with exceptions. They need to give proper info out. Half the buyers would qualify at 35%.
@@darbyohara mortgage-backed securities have been performing perfectly for a decade with these parameters so performance says otherwise. If you used the net, nobody would ever qualify.
@@matthews7400 of course people would qualify, for mortgages they can afford. You don’t calculate a bill you pay out of net income by using gross in the calculation 🤣
Real estate can be quite a rollercoaster, the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate my entire $700k liquidity value to my stock portfolio or just stay 100% cash?
there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by seasoned investment advisors
Right, I and a few neighbors in Bel-Air area work with an advisor who prefers we DCA across other prospective sectors instead of a lump sum purchase. Following this, my portfolio has yielded over 120% since early last year to date. IMO, nothing beats expertise.
@@beautifulpeoplealways I've worked in real estate for 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. Mind if I look up the professional guiding you please?
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Katherine Nance Dietz" for years and highly recommend her. See if she meets your criteria.
such an eye-opener! cant wait to experience financial advisory at first hand... curiously inputted Katherine Nance Dietz on the web and at once spotted her consulting page, she seems highly professional from her resumé
We just went through buying a house but our problem was being outbid even though we could afford it. We'd offer full price with bank approval, but during the few days it takes to do all the inspections and things the bank and insurance companies require, other offers would come in. We had a pending contract but would lose the house to someone paying cash or offering over full price. It was a frustrating, disappointing experience. Finally a Christian family rejected the other offers and honored the agreement he made to us first. Without Jesus's help, we'd still be searching for a home.❤
What? Were you making an offer with a contingency of selling your current home, I don’t know of any state where the seller can cancel the contract of a buyer because they got a higher one
@@Thehuntress404it's still considered a bid until you pay for it and sign papers. Sounds like they didn't know if the bank would even finance it without all that stuff so it's a maybe cash trumps that.
Probably these big companies who owns thousands of homes and just double the payments to tenants so they don’t care by overpaying for homes in today’s market. Another problem is people actually going out to pay 1500 for rent, but people need a place to live.
If the fed lowers rates house prices go up.I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
You're right, I and a few Neighbours in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 37% in the last quarter
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
I've stuck with the popularly ‘’Laura Grace Abels” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Laura after inputting her full name on the web, she seems highly professional with over a decades of experience
You guys are missing some key elements of what's happening in Florida. There's very high property taxes, there's very high HOA cost due to the regulation that all HOA's need to be fully funded. Insurance is through the roof and many Insurance companies won't insure you. These 3 only are going to hold back the "boom" you guys think are going to happen if rates get lowered. You got serious issues in Florida, the correction is only beginning....
It’s always the time to buy according to anyone in the industry. Realtors and industry experts are saying the same stuff word-for-word what was said back in 2007
A huge part of the real estate problem is so many people are playing real estate mogul by turning everything into rentals and bnb’s . That removes houses to own and it destabilizes neighborhoods.
Woah for real? I'm so excited. Adriana's catherine strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
Gentlemen, you are completely out of touch with the economic reality. Most people cannot afford a refrigerator, let alone an overpriced home. The rate drop, home prices and inflation increase. I understand most of you on the show are multimillionaires, pleae try to relate to us normal working folks. Thanks.
I agree, but will add that I know well heeled cash buyers who are not buying. Not because they can't afford it but because they don't want to feel like they're getting ripped off. Paying $750K for a $500K house for example.
I have been a carpenter all my life built many homes from start to finish until the customer is moving in. It breaks my heart every time because i could never afford a home in california, wages were stagnant until we lost everything in the tubes fire. So now i make a little more, saved 10k for a truck when i finally had the money the truck i need for work doubled in price. Just when you think you finally are doing ok everything doubled in price.
I HAVE A NICE TRUCK FOR SALE $ 8,500 IAM IN MENDOCINO COUNTY OWNED IT SINCE 2001 124,000 MILES F 150 WITH CAMPER SHELL 8 FT BEST ENDINE FORD MADE THE 4.2L V6
This is so connected from reality. There is a massive slow crash happening in Florida right now. People are getting thrown out of their homes due to massive HOA assessments. A ton of apartments on the market now where sellers are trying to sell at a loss for dirt cheap, but the HOA is $5k per month so no one is buying. Also, insurance rates are going up like crazy and people are seeing this and they are like "nope, not safe to buy here." A ton of inventory is getting dumped into the market now with no one buying.
Exactly ! We started looking and ended up walking away cuz the damn insurance was crazy insane . These guys are not taking into account so many insurance companies mailed out non renewals cuz your roof is 10 years old
Had a lot bad happen to me over the last 6ish years, but the best thing was getting my house. 3 bd 2 bath 1,300 sq feet (small house) on a third of an acre in a great area in Louisville for $165k (bought in 2019). Not going anywhere anytime soon
@@c2s2942 Its great for me and my wife. It is small these days. I feel like by me they dont bother building new homes anymore that are under 2,000 sq feet
You seriously think that dropping interest rates by 0.5% will open floodgates? In Florida?? I live here and I highly doubt that. The median household income in Florida is what, $60,000 a year? Median house price at $440,000? How the hell do you make a mortgage payment with 40% or less of your monthly income, on a $440,000 house? How do you even do it with an $80,000 year income?
It’s not about supply and demand in Florida and it’s not about it being too high of a price it’s not about overbuilding. It’s that they’re trying to sell what cost $30,000 to build at most for almost a 1/2million and when you get here and you realize the condition of the home you’re trying to buy For the price it’s utterly absurd
A n 0.25% rate reduction will have virtually zero impact on the housing market. If you borrow $400K at 6.75% vs. 6.5)% the difference in your monthly payment is $83. That's not enough difference to make a buy or not-buy decision. The problem is housing prices are so inflated that they have to come down to a more affordable level. In the "old days" the metric was your housing costs should be 30% or less of your HH income. Today, we see housing costs pushing 50% - 60% of the median HH income. With other costs increasing over 30% over the past three years, the numbers just don't work.
6.75% is a historically LOW MIRTGAGE RATE! Anybody who says otherwise is cognitively impaired, too young, or unable to remember before 2006. I had. 6.5% moetgage in 2002 and that was considered 1/2 point BELOW THE GOING RATE IF 7%
15% drop compared to a 70% run up since the start of 2020 is a drop in the bucket. The home price index Q1 2020 was 486 and Q1 2024 is 812 (this is from the FRED data for Florida)
The issue now facing states like Texas and Florida for home purchasing, is home insurance rates have increased so high. I read that Texas is the highest with over 50% increase in home insurance. So on top of the home payment, insurance, increase home maintenance, and property taxes are so expensive so it's pushing more buyers out of home ownership.
I live 30 miles East of Dallas. Between insurance, property taxes, and a mud tax, I pay a little over $1,300 a month on top of my mortgage. I've been watching home sales in my area and noticed a lot of homes being listed for rent several days after closing. It's cheaper to rent a house in my area than it is to buy.
Another big change is how real estate agent commissions will be paid starting next month. The seller will no longer have to offer the buying agent a commission. It will now have to be paid by the person buying the home. So if the home is 500K the buyer negotiated commission to the buyer's agent is 2% they will have to pay the agent 10K after closing. This will limit even more buyers.
@@h2o2828 It's a nationwide change to realtors. Not only does it affect the commission structure but there are other major changes. You also will no longer be able to view properties with a realtor without signing a buyer's contract ahead of time. Unless the property is for sale by the owner so no realtor involved. You can google changes to realtor rules 2024 for more information.
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
@@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Im 34 and I'm so far off from owning the home I would want to, not a mansion or anything like that just a nice house. I would literally have to start robbing banks.
*Amazing video, you work for 40yrs you have $1m in your retirement, meanwhile some people are putting just $10k into trading from just few months aga and now they are multimillionaires
You don't have to be surprised, That's exactly her name( Alvarez Harry) so many people have recommended highly about him I'm huge beneficiary of his platform from Brisbane Australia
I'm from Alberta Canada I use to take loan from my bank for survival but after I came in contact with him I'm Now a credit not a debtor anymore bought my first car last month
It only gets better. Alvarez Harry is spreading like wildfire here in Canada 🇨🇦What i see is a Great Wonderful opportunity for life changes I think he deserves an honor
The 1938 Gilchrist theater on highway 97 in Oregon is available! 5000+sqft commercial building with endless possibilities. Restore it as a theater, office space, unique mansion, haunted attraction, antique mall, concert hall, Airbnb... Includes original projectors. Historical but remodeled in the 90's. 850k OBO, owner can take a contract.
I’m in Northern California. Don’t feel any money moving, housing here is a steamroller and prices are like a casino. Overbid on everything, around 40% have been cash buyers,
If unemployment goes over 4.4% where will the buyers be when they have no jobs? We will be in a recession equivalent to the covid crisis or 2008. Prices won't matter when people don't have a job
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
Their ...services are very genius and experienced in the market for over a decade and counting, they changed my life from a poor plumber to a better and middle class family man with 2kids.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Lmaoo ain’t nobody saying that they want to live in Fort Lauderdale. It’s like saying you want to go buy at Saks, but because you can’t afford it you end up going to JcPenney. 😂
With a .25 Rate Cut sellers will probably just tack on another 15 Grand to the price . Rates are not the problem for potential buyers . Historically high prices are the problem . And they're not coming down enough for the average buyer .
I was gonna buy this year in Florida but the property tax and insurance is through the roof. So even if rates drop and the price of home goes up we sometimes see the assessed value of the home go up with the price often raising property tax and at times raising the insurance. I’m single and make well north of 100k in Florida. It’s still hard as hell to responsibly come to grips with these home cost . Here’s the kicker with me saying this : I’m a veteran! It doesn’t get any easier for a normal wage earner and first time home buyer buying a home than it does for me and I’m still having a hard time.
After driving through the whole state east coast and west coast, I was shocked by the monthly nut people are expected to pay in Florida, not remotely worth it. Most houses are selling for 2-2.5x or more what they're worth.
I have a pre approval right now at a new build in Florida, but I haven’t gone through with underwriting because I don’t like the estimated monthly payment and knowing it will rise next year between property taxes and homeowners insurance.
Historically, even after there is a drop in interest after the Fed dampens it's fight against inflation, people do not come running back into the housing market. Why? Because the high inflation and high interest has hurt the economy too much. Credit cards spiking, jobs decreasing, savings depleting. You think these people can rush and buy a home now with these prices with the financial hurt they are in? I don't think so.
Don't think you're right. While there is a measure of demand in certain areas of Florida, there are fundamentals in play that will not cause people to buy with an interest rate cut. Banks are much tighter on lending, people are losing jobs, and are maxed out with inflation pressing them. I'm in Tennessee, where like Florida, there has been a lot of migration from other parts of the country. But this alone cannot overcome markets where the locals cannot afford homes. Again, the fundamentals are going to kick in and this means massive crash in prices.
These guys are so disconnected. If rates drop, inventory will skyrocket as the folks who can't afford the home they live in will list to finally get out of the interest rate housing trap. When the rates actually drop, the economy will be in a bad place (the fed will lower rates when it gets bad), meaning inventory will spike at the same time demand takes a drop. Prices will drop fast as people lower to get out, then all the folks wanting to buy now will wait on the sidelines as prices drop month over month. People will enter the market again once they can buy at or below the current rental prices.
Blackrock has $3 TRILLION and will outbid individuals on everything. You won't get a house. All these out of state analysts don't have a clue about the Florida market,
Rates dropping is not going to bring in a lot of buyers. I've been waiting on the sidelines and I'll wait forever because I'm not going to overpay. A 20% down payment making well above medium wage, people asking a million dollars for a starter home in Phoenix. No thanks. I'm not buying until prices match my expectations in my earnings even if it means I have to live down by the river in my van lol.
The buyers are unqualified. You should not take a contract contingent upon financing unless the buyer has been pre-approved for a mortgage. I fault the desperate real estate agents who are hungry from when there was no inventory on the market. These agents are pushing to get deals and slime their way through closing. BACK ON THE MARKET
You never own your home, you rent it from the state and the local school district. If you don’t believe me, don’t pay your taxes and see if you own your home.
@@ebutuoy5088 so you don't think FL has a housing bubble? This is just the new normal in the FL housing market? The HOA, roofing scams, lack of insurers, and a variety of uniquely FL issues have created a bubble?
My local market dropped 22% in home value last year. But since the start of Covid, it appreciated 60%. Still up 40%. So far this year with interest rates where they’re at, we have seen an 8% increase in prices. The demand is still very much there. What a lot of people in these comments may not know is that many communities are severely behind in units for people to live and builders have to try and catch up from the crash of 2008. My local county alone is behind 1.6M homes/apartments based on the amount of people we have here and the people coming in. And with legislation not allowing builders to build more houses, it will only get worse.
I love south Florida, lived in Fort Lauderdale & Weston my whole life… I wish the reason there is a surge of homes on the market was due to over-construction to accommodate for the flock coming to Florida these past years. As it is a factor, almost 90% of the condos for sale that are just sitting are over 30 years old. Especially in Miami dade after the tragic building collapse we’re seeing special assessments go through the roof and deeming these properties basically unsellable for now. It’s a sticky position to be in, I have multiple clients that are begging me to get them sold because their special assessments are as high as their mortgage, and I even have one client that their building is evacuating because it didn’t pass building codes. Overall, the reason in all of south Florida that there are houses sitting right now is because home values are still sky high as you mentioned, but I think its being hopeful that lowering interest rates are going to solve everything when unemployment is so high right now. I do believe south Florida will be okay though because of the tax friendly environment like you said people want to be in Florida or Texas during tough economic times. There are a lot of people on the sidelines that have been waiting for some sort of buyers market, and were starting to see that unfold. There are multiple ways to look at it, and I love to talk about it as an agent and a self proclaimed analyst lol. All i know is there will always be transactions in any sort of market, and im here to help. My clients I informed to sell these past few years are thrilled with my advice, and have been using that $ in off market investments I find them, and the high occupancy rates due to more renters is just a win win for them. @owenbrat on Instagram always here to help anyone interested in South Florida real estate, wishing everyone the best in times like this.
Only people who are doing well tell others renting is good. For poor people, it’s throwing our future down the drain. Owning a house allows a family to get out from under our biggest monthly payment someday. Renting keeps us in debt FOR LIFE. It also makes it impossible to save while renting. It is much cheaper to own a house.
@@thepain321 It is not much cheaper to buy a house. My rent is 2K/mo less than what the mortgage would be if I were to buy. Taking the extra 2k/mo and investing smartly will yield a much better return than what the average house will increase in the next 5 years.
Drove around my old neighborhood in Tampa, FL on my way back from work, where I grew up in a home that went to foreclosure after a 10 year battle my parents fought to keep it. "For Sale" signs everywhere, many of them being on homes that have a sale history in the last 3 years (2021-2023)
Drops in Florida not in central Florida a 20 year old Mobile home used to be 45,000-80,000 now are selling for 120,000-140,000 not to mention interest rates then try & find insurance on a mobile home or new cars it's crazy Renting ain't cheap hear either
My husband took on a mortgage to buy our first home last year and did he buy it overpriced the house and farm, yes but not because we want to pay more but at least we were lucky to, its just we're not going to wait for something that is not a guarantee, which is why I wouldn't be surprised to see all these people who are waiting to buy a house, waiting for the prices to go down be the very same people in a year or so still waiting for prices to go down and guess what folks age and time doesn't wait with you, dont know about the rest of ya but we wanna live, experience and enjoy life NOW.. everything is overinflated in life now, every little thing and sure stuff might go down a little but it'll never be like what it was before and that applies to the housing market as well sure some places will drop a bit and obviously there will be some places that will always remain high in demand depend on locations but still overall be high priced and lower quality builds now. Dont forget as a factor there are elite entities who also want life to be unaffordable in Society aka "you'll own nothing and be happy".. which is why we're seeing our country, cities and towns going in this direction.... don't get me wrong I hope Society proves me wrong and prices fall to Affordable levels but just from what I've experienced in life so far it just seems like the american dream which was the house, the family, the car, the conveniences, the long life career and overall affordability is one big tease now that is constantly dangled before us, to always barely have it within your grasp and think your fine and flourishing only for it to be yanked back further from you...
new home builders have already been offering buydowns for a year or two, pulling forward all the demand that was still there at current prices + lower rates i wonder what that means if the fed ends up cutting half a point
I live in SWFL in the same house since 2004. If you spend less than you make, and you keep yourself out of debt by not keeping up to the Jones's you will be just find when the market dips. All the wealthy people I know own their houses and vehicles for a long time.
You guys are wrong. If the Fed dropped rates, demand will go up and so will prices. By saying a quarter or half point drop will make housing more affordable is simply WRONG.
Peoples home ownership insurance alone will keep people from buying in flordia and house will still cost 500k. They think a .25% rate cut is going to get people flooding into market 😂
Palm beach west of turnpike loxahatchee wellington,royal palm beach is the best all around i have lived in different places in palm beach county 45 years and still love it east area are rough an expensive
Rate cuts have started in Canada hasn't even moved the needle on buyer's for houses. The media(government) says we have a supply problem, but the only problem I see is greedy sellers and agents thinking prices over the last 4 years have been normal.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
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 advice but get buying, cash isn’t king at all in this time!
@@MaryLawson874 I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@roxdietren bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
@@AlfredStephen127 The decision on when to pick an Adviser is a very personal one. I take guidance from Claire Robert’s Durand to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
@@roxdietren I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Everyone's been promoting investing as a source of passive income, but with a 70-hour workweek and limited financial knowledge, how can I stay on top of things? Every UA-cam video says "BUY, BUY!" but when and how do I sell for profit at the right time?
Well all i know is that you cannot go wrong taking profit at near high. No one ever went broke taking a 10% loss. It's best if you consult with a fiduciary advisor to get informed buying & selling decisions
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
Housing crisis triggers a market crash or a financial crisis, it could send shockwaves through the stock markets worldwide. I’m worried about my investment of over $600K stocks. Is this a time to consider diversifying my portfolios?
If the housing market takes a hit, it might lead to reduced consumer spending and overall economic instability. I advice you consult with a professional about your investment portfolio to enable you to take advantage of the downturns.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
That's really great. I've tried doing some research myself to hire a financial advisor, but it's really overwhelming. Could you recommend who you work with, please?
My CFA ’Annette Christine Conte’ , 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.
Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
*The Rich stay Rich by spending like the poor and investing without stopping, then the poor remains by spending like the rich yet not investing like the rich*
You're right
people still remaim poor out of ignorance
Is not about ignorance people are scared of investing due to high rate of scamers and unprofessionalism in in business
There are scammer but real brokers are also out there, Thanks to Mr Alvarez Harry's time in my life which had a profound impact on me he's a life changer
Wow 😲I know this Man mentioned here . He's really good with and on his job. He's helped a couple of families and individuals' finances
Waking up every 14th of each month to $58,000 it's a blessing to i and my family... Big gratitude to Alvarez Harry
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Mind if I ask you to recommend this particular coach you using their service?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?
I'd avoid the index funds, mutual funds, or specific stocks for the time being. The 5% fixed incomes are the safest bet for now. Save your cash for when the market actually shows sign of recovery.
This is why I entrusted a fiduciary with my investmnt decisions. Many underestimate advisors until emotions lead to losses. My advisor crafted a tailored strategy aligning with my long-term goals, guiding entry and exit points for the equities I focus on. This has grown my portfolio to over $850k. My personal best so far
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
My CFA NICOLE ANASTASIA PLUMLEE 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 the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, 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.
this is all new to me, where do I find a fiduciary, can you recommend any?
Amber Dawn Brummit is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market.
The stock market is no different, to maintain profit you need to have some in-depth knowledge on the market. I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite a while now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
In my opinion, it was much easier investing back in the 80s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
“Jessica Lee Horst” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be a true authority in her profession with over two decades of experience. I looked her up on the internet and skimmed through her site, very professional. already sent her an inquiry hoping for a response soon.
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Could you kindly elaborate on the advisor's background and qualifications?
Her name is. 'Julia Hope Marble’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
I'm intrigued by this. I've searched for financial advisors online but it's kind of hard to get in touch with one. Okay if I ask you for a recommendation?
I've experimented with a few over the past years, but I've stuck with the popularly ‘’Amber Michelle Smith” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
Is not the Interest rate as much as it is the Over Inflated prices! I bought my house for $200k in 2009. Today? I couldn’t afford it at $550k. My parents bought their house at 9% in the late 80s but the house was only $85k!
Just had this happen to me. Had to take our home off the market, because everyone is getting denied due to high interest rates. Buying a $1M house at 3% with 20% down, means a mortgage of ~$3k/mth. Now buying the same house with the same down payment at 7% interest rates, means a mortgage of ~$7-8K/mth. It's ridiculous that the fed keeps printing money and send it overseas to back wars and all Americans are paying for it in every aspect of their lives: grocery, rent, mortgage, retail, etc...
And yet Americans keep voting for the establishment
Just backed out of a contract on a $365,000 house in Georgia. The monthly payment was going to be $2800 a month with $88,000 down. Just not worth it.
That’s where we are at. Even though we can “afford” an 7K payment on paper, it’s not worth it.
I hear that. Only 5 years ago, when my friends were looking at buying land in Wisconsin, it's trippled
This is normal in Australia 🤦🏽♀️
Mortgage rates are not the issue. 6-7% is fairly normal. Homes listed for $700k that were bought for 400k 4 years ago is the issue. Homes prices need to come down at least 25% -30%. Too many fools overpaying keeping greedy sellers from lowering prices.
I'd say 40-60% drop
Totally disagree, this is the price we pay for govt money printing. Hyperinflation and devaluation of the dollar
The prices will never come down in South Florida, only go up. Everyone is moving here and wants to live here.
YES! I live in Florida, specifically South Florida, and can confirm I saw houses on the market last year that were purchased in 2020 or 2021 for 250% LESS than their current listing price! What?!?!? Anyone who doesn’t look at THAT part of the listing, the previous purchase price, and you don’t see that any renovations have been made in those 4 years (or hell, since the original build of the house) and the roof or HVAC is 10 plus years old, should not even paying 50% more than the house value in 2020/2021- F that, I will continue to rent, because that is absolutely guaranteed money lost.
@@robertd1500Eh, not entirely true- I’ve been watching the market in South FL, and prices ARE coming down. But as of last year, they were 100-250% inflated from where they were in 2020/2021.
People are so clueless it’s not the rates that matter it’s the current evaluation on the home. If you over pay on a home you’re screwed. If you buy a home with a high interest rate at normal price evaluation then you could eventually refinance later. YOU CAN’T CHANGE THE COST AT WHICH YOU’VE BROUGHT A HOUSE!
Yup. That is precisely why I am holding off on buying. I am in Florida and I refuse to buy a house that is at a 50-100% inflated value compared to what it cost in 2020/2021. Last year, I was seeing prices that were like 250% more than they were purchased for in 2020/2021. Im not playing that game. ESPECIALLY when the kitchen and bathrooms look like they came with the original build of the house and the roof and HVAC haven’t been updated in 20 years. F that. I’m not losing money because people have insanely inflated their house value.
yeah and these nimrod realtors that talk about refi when the house drops 40% in value good luck refi'ing that
Facts lol
@@HeidiWillToWini hear you BUT have you figured in how Inflation is devaluing your money every freaking day. I doubt prices will return to 2020-21. Owners refuse to accept they missed the peak and won’t sell. Truth its a crap shoot
@auroranite they are hoping lowered interest rates and the government, allowing more foreign investors to buy houses to sit empty, creating a falsely inflated market.
It’s gonna take a lot more than a .25 rate cut to get people rushing to buy a house
Wait till November.....and after election. Just sayin' 😁
Prices gotta come down
Mark my words: Dropping interest rates will do absolutely nothing.
This is what a bunch of economist were warning you about lol
These morons don’t know anything
Home pricing HAS to return to pre-2020 values and lower - interest rates are not the problem.
Interest rates can lower once the “market values” return to reasonable levels.
15% drop doesn’t do it. Houses built in the 1970’s are not worth 400 thousand dollars. Period
In the Seattle area homes built from 1920 to 1970 can go for $2M
Houses built in the 70's are far better than any new home!!!!!
Wake up has zero to do w yr built. TODAYS built homes are thrown up, New construction is garbage compared to quality of workmanship prior to 2000😊
Depends on the lot in FL. If it’s on a deep water canal with ocean access for your boat, it’s absolutely worth $1M+ just for land value
With the high number of mid-20th century homes in Florida, they will need to cut prices by over 200% to make it even reasonably feasible.
A house built in 1962, with 1200 ft², even with a modern update, unless you're in an incredible location, you'd be crazy to pay over 200k
*I will forever be indebt to you I will continue to preach about your name to the whole world to know you have saved me from a very huge financial debt which just little investment thanks so much ( Ava Brenda Harry)you are life changer*
Talking of been successful I think I'm blessed if not I wouldn't have met someone who is as spectacular as Ava Brenda Harry
Wow 😲I know this lady mentioned here . She's really good with and on her job. She's helped a couple of families and individuals' finances
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"Is now the time to buy?"
are you kidding, NO!!!!
You think it’s gonna get any better?😂
@RamRod333 Thats the catch. If it's going to get worse, then buy now. But if you think rates will drop then hold off
@@19MichaelDixon a drop in rates will bring in more buyers and higher prices.
@@RamRod333 what does your crystal ball say? no one knows what will happen, including you.
@@ebutuoy5088 that is not what happens. The Fed cuts rates because they need to, not because they want to. Rates are falling in response to crisis, usually a destruction of employment rates.
Mortgages may be 3% again, but banks won’t lend to anyone working in tech, service, or any other long term risk.
Do NOT buy yet. Especially in areas like South Florida, the bubble is huge!!
Same with Texas. Wait
And southeast is a 💩HOLE
Many areas are back to prepandemic levels with inventory still rising
Buyers paying buyer agent commissions is the affordability issue no one is seeing
It's just a gully
There is a housing bubble, a credit card bubble, a car debt bubble, stock market no longer reflects actualy economy. Shit is going to crash real hard one of these days
False
100% agreed. The US dollar is the weakest it has ever been.
this administration is doing this intentionally to screw the next. It's obvious.
@ebutuoy5088 lol okay. Which part. A few those are very easily proven.
@@Redactstrength there is no housing bubble.
You just talk about price and an interest rate. You didnt even mention the property tax and insurance costs?
Insurance costs are thru the roof!!!!!!
because he’s in the insurance industry. the guy is a scumbag and is out of touch. I cant even watch the show anymore because it’s just so ridiculous. clueless
And don’t forget the forever-increasing hoa fees too.
@@Morgamera maintenance costs rise therefore HOA fees rise, plus savings are needed for future projects.
And everyday necessities are increasing. Only thing dropping is stuff we don't need.
I officially can't take Tom serious. 2 years ago applauding the rate hike. Everyone knew lowering rates causes this chaos and price surge in housing. And then now says rates should come down to "help" affordability? No sir. Rates should co tinue to climb. Prices coming down helps affordability. Prices true value, and not artifically propped by low rates.
Ive respected Toms opinion a lot. But he spoke circles on this. Dont point to higher rates as the cause of affordability. We all know QE is the root of this.
Couldn't have said it better...
I’m so glad I’m not the only one who noticed lol
From a financial perspective, if people are consuming less food, it could lead to weight loss. However, this reduction in food consumption might also indicate economic hardship or reduced spending power, impacting the overall economy.
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments. I'm planning to invest about $200k of my savings in stocks this year, and I hope I make profits.
I currently have $400K in equity in my home, and it's my primary asset. Is the suggestion here to sell now, cash out, and hold onto the funds until the housing market declines? What would be the best financial move in this situation? Any advice would be appreciated.
If homes drop 50 percent property taxes should drop 50 percent .
@@ErnestZDodson You are right. The best approach I feel is to diversify investments- by spreading investments across different asset classes like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown.
@@ErnestZDodson I really want to get in with a financial advisor this year, especially as all markets are hitting highs. I don't want to be too optimistic and end up losing everything.
I'm trying to avoid new buys now in order not to get stucked into a bear trap. On the other hand, I'd love to know best possible areas and ways to invest amid downtrend, my goal is to retire comfortably at a ballpark of $1M
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AirBnBs are going to get wrecked, and I am here with my popcorn.
It’ll be beautiful.
We went through the last housing crisis in 2010. Lost our house . We ended up regrouping rented cheaper , got out of debt. Bought land in the country side , built a small cottage house for our retirement, we lived in a RV while we built and did most all things ourselves. Now we have a beautiful piece of land with a beautiful house paid for , land paid for other then land taxes every yr. We have a garden fruit trees . We are set to manage our retirement on a smaller income. And the housing market doesn’t effect us anymore. My land value is always going up, but our investment isn’t ties to the housing market, because my land is where my value is .
US economy is done. There’s no coming back from this. Bankruptcy is on the horizon and the dollar will collapse. Hard times coming for the US and it’s deserved. Our politicians have gotten rich and reckless with our tax dollars and we let it happen.
💯!!! Everybody’s concerned about all of these market bubbles, but don’t take in consideration our national debt bubble that props up those other things. When it does happen, it will have a global effect due to other countries dependency on our dollar and purchasing habits. It not going to be petty.
Who is we ? They didn't ask our permission to spend.When one breaks their mkultra they aren't listened to, they are labeld as crazy.
I need to figure out a way to quit paying taxes to these crooks. They aren’t representing our interests anymore
This doomsday scenario is always there. Though US is still best place on earth and will stay that way
@@MusicLover-tu8zc if someone throws a rock at your head and mid flight you can call it what you want but it’s still going to hurt. The US is like a high risk stock. There is a huge potential for gain, but that also comes with a huge potential failure. We are not ready for it and don’t seem to care.
Institutional investors drove the prices up. Now that institutional investors are bailing, prices are falling
Loan officer here:
Yes, we look at your dti(debt-to-income ratio) in order to qualify someone for a home. But there’s no way the qualifying ratio is a 30-35%.
It all depends on the loan type and lender.
For example, an FHA loan allows a borrower to go as high as 59.9% in the back end. Now is that a logical way to purchase a home, no but it’s doable.
Let’s start give the correct information out there guys.
Agreed.
FHA to 59%
Conventional to 50% with approve eligible and CRA
Jumbo to 45% sometimes higher with exceptions.
They need to give proper info out. Half the buyers would qualify at 35%.
These ratios are insane. You don’t pay with gross pay. You pay with net pay. It should be calculated off net pay
I am a LO And was just about to say the same thing
@@darbyohara mortgage-backed securities have been performing perfectly for a decade with these parameters so performance says otherwise. If you used the net, nobody would ever qualify.
@@matthews7400 of course people would qualify, for mortgages they can afford. You don’t calculate a bill you pay out of net income by using gross in the calculation 🤣
Real estate can be quite a rollercoaster, the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate my entire $700k liquidity value to my stock portfolio or just stay 100% cash?
there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by seasoned investment advisors
Right, I and a few neighbors in Bel-Air area work with an advisor who prefers we DCA across other prospective sectors instead of a lump sum purchase. Following this, my portfolio has yielded over 120% since early last year to date. IMO, nothing beats expertise.
@@beautifulpeoplealways I've worked in real estate for 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. Mind if I look up the professional guiding you please?
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We just went through buying a house but our problem was being outbid even though we could afford it. We'd offer full price with bank approval, but during the few days it takes to do all the inspections and things the bank and insurance companies require, other offers would come in. We had a pending contract but would lose the house to someone paying cash or offering over full price. It was a frustrating, disappointing experience.
Finally a Christian family rejected the other offers and honored the agreement he made to us first. Without Jesus's help, we'd still be searching for a home.❤
What? Were you making an offer with a contingency of selling your current home, I don’t know of any state where the seller can cancel the contract of a buyer because they got a higher one
@@Thehuntress404it's still considered a bid until you pay for it and sign papers. Sounds like they didn't know if the bank would even finance it without all that stuff so it's a maybe cash trumps that.
@@joshchafinjr.5520 sellers cant exit a signed contract during inspection period, unless earnest money isn’t deposited.
@@Thehuntress404There’s plenty of ways they can get out of being under contract.
Probably these big companies who owns thousands of homes and just double the payments to tenants so they don’t care by overpaying for homes in today’s market. Another problem is people actually going out to pay 1500 for rent, but people need a place to live.
Lived in Ft Lauderdale for over 20 years 1980 -2000+ . Got out, don't miss it, don't regret it
You a liberal? What made you leave?
Smart. I’m ready to pack up and leave next year.
Since when is a $700k house a “starter home”
If the fed lowers rates house prices go up.I recently sold my condo for $400k and i want to invest the money in the stock market. However, it appears the market is at an all-time high. Should I invest elsewhere or wait for a market correction?
The stock market is risky But staying on the sidelines is riskier. Missing the next bull run will be far more costly to your long-term wealth than getting in at the "right price". Consult a financial advisor if you're unsure how to proceed.
You're right, I and a few Neighbours in Bel-Air Area work with an advisor who prefers we DCA across other prospective sectors. Instead of a lump sum purchase, Following this, my portfolio grew 37% in the last quarter
Mind if I look up your advisr please? I've worked in real estate for over 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now
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You guys are missing some key elements of what's happening in Florida. There's very high property taxes, there's very high HOA cost due to the regulation that all HOA's need to be fully funded. Insurance is through the roof and many Insurance companies won't insure you. These 3 only are going to hold back the "boom" you guys think are going to happen if rates get lowered. You got serious issues in Florida, the correction is only beginning....
Blame the governor
And how is it the governors fault.
If you live Florida and haven’t registered your home with homestead exemption, I recommend you do.
Facts. Blame Desantis but they won’t.
I have never, and will never never buy a house in an HOA, it’s unAmerican to have someone telling you what you can and can’t do.
It’s always the time to buy according to anyone in the industry. Realtors and industry experts are saying the same stuff word-for-word what was said back in 2007
A huge part of the real estate problem is so many people are playing real estate mogul by turning everything into rentals and bnb’s .
That removes houses to own and it destabilizes neighborhoods.
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Gentlemen, you are completely out of touch with the economic reality. Most people cannot afford a refrigerator, let alone an overpriced home. The rate drop, home prices and inflation increase. I understand most of you on the show are multimillionaires, pleae try to relate to us normal working folks. Thanks.
I agree, but will add that I know well heeled cash buyers who are not buying. Not because they can't afford it but because they don't want to feel like they're getting ripped off. Paying $750K for a $500K house for example.
Yea they are just as clueless as the elite on Wall Street, or the politicians
PBD also got rich of MLM scheming.
I have been a carpenter all my life built many homes from start to finish until the customer is moving in. It breaks my heart every time because i could never afford a home in california, wages were stagnant until we lost everything in the tubes fire. So now i make a little more, saved 10k for a truck when i finally had the money the truck i need for work doubled in price. Just when you think you finally are doing ok everything doubled in price.
I HAVE A NICE TRUCK FOR SALE $ 8,500 IAM IN MENDOCINO COUNTY OWNED IT SINCE 2001 124,000 MILES F 150 WITH CAMPER SHELL 8 FT BEST ENDINE FORD MADE THE 4.2L V6
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This is so connected from reality. There is a massive slow crash happening in Florida right now. People are getting thrown out of their homes due to massive HOA assessments. A ton of apartments on the market now where sellers are trying to sell at a loss for dirt cheap, but the HOA is $5k per month so no one is buying. Also, insurance rates are going up like crazy and people are seeing this and they are like "nope, not safe to buy here." A ton of inventory is getting dumped into the market now with no one buying.
Exactly ! We started looking and ended up walking away cuz the damn insurance was crazy insane . These guys are not taking into account so many insurance companies mailed out non renewals cuz your roof is 10 years old
@@cindywilliams2833 Yes, whats going on is wild!
Had a lot bad happen to me over the last 6ish years, but the best thing was getting my house. 3 bd 2 bath 1,300 sq feet (small house) on a third of an acre in a great area in Louisville for $165k (bought in 2019). Not going anywhere anytime soon
I bought my 1200 square foot home in Empire Calif. for $65,000 in 2003 it is currently worth $300,000+
@@Travis12861 People get "the wants" instead of what "they need"
@@masterspin7796 not sure how accurate zillow, trulia, etc are, but those sites have my house now around $265k
1300 sq feet isn’t small. People literally used to raise 12 kids in a one bedroom cabin. 1300 sq feet is great.
@@c2s2942 Its great for me and my wife. It is small these days. I feel like by me they dont bother building new homes anymore that are under 2,000 sq feet
You seriously think that dropping interest rates by 0.5% will open floodgates? In Florida?? I live here and I highly doubt that.
The median household income in Florida is what, $60,000 a year? Median house price at $440,000? How the hell do you make a mortgage payment with 40% or less of your monthly income, on a $440,000 house? How do you even do it with an $80,000 year income?
I’m in CT my dad bought his house for $110k in 1994. Now that same house is almost 600k. I’m 30 and can’t afford a house here. It’s insane.
Sitting here with my 2% mortgage laughing…I ain’t going nowhere
They aren’t factoring in the millions that have a 2% rate, can afford their home and have hella equity.
It’s not about supply and demand in Florida and it’s not about it being too high of a price it’s not about overbuilding. It’s that they’re trying to sell what cost $30,000 to build at most for almost a 1/2million and when you get here and you realize the condition of the home you’re trying to buy For the price it’s utterly absurd
Try paying a million for a small house in California that was built a hundred years ago
Exactly 😢
@@LA_Commander yes same in Florida California has other issues as well making it much worse but Florida is just crazy.
what a clown😅 you have 0 idea what you talking about
A n 0.25% rate reduction will have virtually zero impact on the housing market. If you borrow $400K at 6.75% vs. 6.5)% the difference in your monthly payment is $83. That's not enough difference to make a buy or not-buy decision. The problem is housing prices are so inflated that they have to come down to a more affordable level. In the "old days" the metric was your housing costs should be 30% or less of your HH income. Today, we see housing costs pushing 50% - 60% of the median HH income. With other costs increasing over 30% over the past three years, the numbers just don't work.
6.75% is a historically LOW MIRTGAGE RATE! Anybody who says otherwise is cognitively impaired, too young, or unable to remember before 2006. I had. 6.5% moetgage in 2002 and that was considered 1/2 point BELOW THE GOING RATE IF 7%
But your average home price was about 200k. Home prices have drastically gone up while wages are mostly stagnant.
Well there goes Fort Lauderdale.😂
Best time to buy real estate is when you can and every time you can.
15% drop compared to a 70% run up since the start of 2020 is a drop in the bucket. The home price index Q1 2020 was 486 and Q1 2024 is 812 (this is from the FRED data for Florida)
The issue now facing states like Texas and Florida for home purchasing, is home insurance rates have increased so high. I read that Texas is the highest with over 50% increase in home insurance. So on top of the home payment, insurance, increase home maintenance, and property taxes are so expensive so it's pushing more buyers out of home ownership.
So true. People forget about the insurance rates. NC is HORR8BLE. And where I live, on the coast, it's even worse
They've also built a lot they have a lot of new inventory
My homeowners insurance has doubled.
I live 30 miles East of Dallas. Between insurance, property taxes, and a mud tax, I pay a little over $1,300 a month on top of my mortgage. I've been watching home sales in my area and noticed a lot of homes being listed for rent several days after closing. It's cheaper to rent a house in my area than it is to buy.
Try paying taxes and insurance in California. Oh and BTW the small starter home cost you a million plus...
Another big change is how real estate agent commissions will be paid starting next month. The seller will no longer have to offer the buying agent a commission. It will now have to be paid by the person buying the home. So if the home is 500K the buyer negotiated commission to the buyer's agent is 2% they will have to pay the agent 10K after closing. This will limit even more buyers.
Where? Only in Florida?
@@h2o2828 It's a nationwide change to realtors. Not only does it affect the commission structure but there are other major changes. You also will no longer be able to view properties with a realtor without signing a buyer's contract ahead of time. Unless the property is for sale by the owner so no realtor involved. You can google changes to realtor rules 2024 for more information.
@@h2o2828nationwide
I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
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Finding financial advisors like Marisa Breton Dollard who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Im 34 and I'm so far off from owning the home I would want to, not a mansion or anything like that just a nice house. I would literally have to start robbing banks.
You may be able to sooner than you think 🤔
@@MortgageMike305 You calling me a bank robber? I mean probably
Yeah I feel you.. even a middle class home where I live is $750K... even a million dollar home really isn't that impressive.
Why not, they're robbing us
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I’m in Northern California. Don’t feel any money moving, housing here is a steamroller and prices are like a casino. Overbid on everything, around 40% have been cash buyers,
If unemployment goes over 4.4% where will the buyers be when they have no jobs? We will be in a recession equivalent to the covid crisis or 2008. Prices won't matter when people don't have a job
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Lmaoo ain’t nobody saying that they want to live in Fort Lauderdale. It’s like saying you want to go buy at Saks, but because you can’t afford it you end up going to JcPenney. 😂
With a .25 Rate Cut sellers will probably just tack on another 15 Grand to the price . Rates are not the problem for potential buyers . Historically high prices are the problem . And they're not coming down enough for the average buyer .
I was gonna buy this year in Florida but the property tax and insurance is through the roof. So even if rates drop and the price of home goes up we sometimes see the assessed value of the home go up with the price often raising property tax and at times raising the insurance. I’m single and make well north of 100k in Florida. It’s still hard as hell to responsibly come to grips with these home cost .
Here’s the kicker with me saying this : I’m a veteran! It doesn’t get any easier for a normal wage earner and first time home buyer buying a home than it does for me and I’m still having a hard time.
Damn
Buying a more expensive home in Florida is a joke. Its a swamp located in Hurricane alley. Good luck.
Clear you’ve never lived in Tampa/St. Pete. It’s a wonderful place to live.
Bro doesn’t know what a concrete cinderblock is
You’re wrong. That is Houston 😂
That is why the Spaniards sold it to the US for nothing, and got out of Cuba …singing..😂😂
After driving through the whole state east coast and west coast, I was shocked by the monthly nut people are expected to pay in Florida, not remotely worth it. Most houses are selling for 2-2.5x or more what they're worth.
I have a pre approval right now at a new build in Florida, but I haven’t gone through with underwriting because I don’t like the estimated monthly payment and knowing it will rise next year between property taxes and homeowners insurance.
I'm just going to bury a 40 ft container and live in it lol
Still need some land to put it on
Historically, even after there is a drop in interest after the Fed dampens it's fight against inflation, people do not come running back into the housing market. Why? Because the high inflation and high interest has hurt the economy too much. Credit cards spiking, jobs decreasing, savings depleting. You think these people can rush and buy a home now with these prices with the financial hurt they are in? I don't think so.
Don't think you're right. While there is a measure of demand in certain areas of Florida, there are fundamentals in play that will not cause people to buy with an interest rate cut. Banks are much tighter on lending, people are losing jobs, and are maxed out with inflation pressing them. I'm in Tennessee, where like Florida, there has been a lot of migration from other parts of the country. But this alone cannot overcome markets where the locals cannot afford homes. Again, the fundamentals are going to kick in and this means massive crash in prices.
In Florida the new condominium rules are also hurting the market based upon that condo that collapsed
These guys are so disconnected. If rates drop, inventory will skyrocket as the folks who can't afford the home they live in will list to finally get out of the interest rate housing trap. When the rates actually drop, the economy will be in a bad place (the fed will lower rates when it gets bad), meaning inventory will spike at the same time demand takes a drop. Prices will drop fast as people lower to get out, then all the folks wanting to buy now will wait on the sidelines as prices drop month over month. People will enter the market again once they can buy at or below the current rental prices.
20yr AZ RE broker here - IMHO you are 100% correct.
Happening in Florida already!
@@mattb383 no
Blackrock has $3 TRILLION and will outbid individuals on everything. You won't get a house. All these out of state analysts don't have a clue about the Florida market,
Rates drop and prices will rise.
Rates dropping is not going to bring in a lot of buyers. I've been waiting on the sidelines and I'll wait forever because I'm not going to overpay. A 20% down payment making well above medium wage, people asking a million dollars for a starter home in Phoenix. No thanks. I'm not buying until prices match my expectations in my earnings even if it means I have to live down by the river in my van lol.
Imagine buying a house in 2009 thinking that prices of housing bottomed out, LOL
EXACTLY 👌👏👏👏
The buyers are unqualified. You should not take a contract contingent upon financing unless the buyer has been pre-approved for a mortgage. I fault the desperate real estate agents who are hungry from when there was no inventory on the market. These agents are pushing to get deals and slime their way through closing. BACK ON THE MARKET
You in the state of denial. Florida insurance and HOA is insane and raising
.25% rate cut! Wow, maybe I’ll buy 2 houses then.
😂😂
Rates dropped twice in Canada. No buyers.
In where? Canada? Ok 🙄
Problem is prices prices have to drop for buyers to come back
Inventories in north and central Fl are 500% over last year in some areas. Houses have sat for months on end and prices are dropping significantly.
You never own your home, you rent it from the state and the local school district. If you don’t believe me, don’t pay your taxes and see if you own your home.
Very well stated
By the same logic, you rent your income from the government as well. It’s really fucked.
@@alextate9531 yes, that would be correct or you could look at it as slavery but with extra steps
As a CA agent, I agree with Tom. It really depends on regions/counties and even within cities, so different
When the bubble collapses, something tells me these guys arent going to say "poorly run red state" 😂
Yup!
It’s happening in most states but go off lib
@markjacob7752 no bubble
@@ebutuoy5088 so you don't think FL has a housing bubble? This is just the new normal in the FL housing market? The HOA, roofing scams, lack of insurers, and a variety of uniquely FL issues have created a bubble?
@markjacob7752 all real estate is hyper local. Florida as a whole no. Prices are predicted to slow down tremendously though.
My local market dropped 22% in home value last year. But since the start of Covid, it appreciated 60%. Still up 40%. So far this year with interest rates where they’re at, we have seen an 8% increase in prices. The demand is still very much there. What a lot of people in these comments may not know is that many communities are severely behind in units for people to live and builders have to try and catch up from the crash of 2008. My local county alone is behind 1.6M homes/apartments based on the amount of people we have here and the people coming in. And with legislation not allowing builders to build more houses, it will only get worse.
In Chicago my taxes were higher than my mortgage! Police told us not to call them is we had a break in!
I love south Florida, lived in Fort Lauderdale & Weston my whole life… I wish the reason there is a surge of homes on the market was due to over-construction to accommodate for the flock coming to Florida these past years. As it is a factor, almost 90% of the condos for sale that are just sitting are over 30 years old. Especially in Miami dade after the tragic building collapse we’re seeing special assessments go through the roof and deeming these properties basically unsellable for now. It’s a sticky position to be in, I have multiple clients that are begging me to get them sold because their special assessments are as high as their mortgage, and I even have one client that their building is evacuating because it didn’t pass building codes. Overall, the reason in all of south Florida that there are houses sitting right now is because home values are still sky high as you mentioned, but I think its being hopeful that lowering interest rates are going to solve everything when unemployment is so high right now. I do believe south Florida will be okay though because of the tax friendly environment like you said people want to be in Florida or Texas during tough economic times. There are a lot of people on the sidelines that have been waiting for some sort of buyers market, and were starting to see that unfold. There are multiple ways to look at it, and I love to talk about it as an agent and a self proclaimed analyst lol. All i know is there will always be transactions in any sort of market, and im here to help. My clients I informed to sell these past few years are thrilled with my advice, and have been using that $ in off market investments I find them, and the high occupancy rates due to more renters is just a win win for them. @owenbrat on Instagram always here to help anyone interested in South Florida real estate, wishing everyone the best in times like this.
Only people who are doing well tell others renting is good. For poor people, it’s throwing our future down the drain. Owning a house allows a family to get out from under our biggest monthly payment someday. Renting keeps us in debt FOR LIFE. It also makes it impossible to save while renting. It is much cheaper to own a house.
overpaying on a house that is not producing your money is stupidity ...
To get out of debt?
What do you think a 30 year mortgage means?
Buying a home you can't afford is throwing away money
Cant save if you have a Mortgage either... people Finance a house for 30yrs which is stupid crazy!
@@thepain321 It is not much cheaper to buy a house. My rent is 2K/mo less than what the mortgage would be if I were to buy. Taking the extra 2k/mo and investing smartly will yield a much better return than what the average house will increase in the next 5 years.
Put a Townhouse in the market in Sunrise FL one weekend of open house had 20 offers over listing price
Adam is trans I finally figured out why his voice is off every day
😂😂😂
Drove around my old neighborhood in Tampa, FL on my way back from work, where I grew up in a home that went to foreclosure after a 10 year battle my parents fought to keep it. "For Sale" signs everywhere, many of them being on homes that have a sale history in the last 3 years (2021-2023)
Drops in Florida not in central Florida a 20 year old Mobile home used to be 45,000-80,000 now are selling for 120,000-140,000 not to mention interest rates then try & find insurance on a mobile home or new cars it's crazy Renting ain't cheap hear either
Orlando is the new Miami
My husband took on a mortgage to buy our first home last year and did he buy it overpriced the house and farm, yes but not because we want to pay more but at least we were lucky to, its just we're not going to wait for something that is not a guarantee, which is why I wouldn't be surprised to see all these people who are waiting to buy a house, waiting for the prices to go down be the very same people in a year or so still waiting for prices to go down and guess what folks age and time doesn't wait with you, dont know about the rest of ya but we wanna live, experience and enjoy life NOW.. everything is overinflated in life now, every little thing and sure stuff might go down a little but it'll never be like what it was before and that applies to the housing market as well sure some places will drop a bit and obviously there will be some places that will always remain high in demand depend on locations but still overall be high priced and lower quality builds now. Dont forget as a factor there are elite entities who also want life to be unaffordable in Society aka "you'll own nothing and be happy".. which is why we're seeing our country, cities and towns going in this direction....
don't get me wrong I hope Society proves me wrong and prices fall to Affordable levels but just from what I've experienced in life so far it just seems like the american dream which was the house, the family, the car, the conveniences, the long life career and overall affordability is one big tease now that is constantly dangled before us, to always barely have it within your grasp and think your fine and flourishing only for it to be yanked back further from you...
new home builders have already been offering buydowns for a year or two, pulling forward all the demand that was still there at current prices + lower rates
i wonder what that means if the fed ends up cutting half a point
I live in SWFL in the same house since 2004. If you spend less than you make, and you keep yourself out of debt by not keeping up to the Jones's you will be just find when the market dips. All the wealthy people I know own their houses and vehicles for a long time.
You guys are wrong. If the Fed dropped rates, demand will go up and so will prices. By saying a quarter or half point drop will make housing more affordable is simply WRONG.
How can you have a market when no one can buy them? So rich will just sell and buy between each other? lol let’s see how that works
Peoples home ownership insurance alone will keep people from buying in flordia and house will still cost 500k. They think a .25% rate cut is going to get people flooding into market 😂
Palm beach west of turnpike loxahatchee wellington,royal palm beach is the best all around i have lived in different places in palm beach county 45 years and still love it east area are rough an expensive
Interest, insurance, and taxes are "hidden" costs that are putting some heavy pressure on people.
You need to wait until people think you are insane to buy a house… That’s the way it was at the bottom of the last bubble.
Exactly as I remember it….
How am I supposed to afford a home when Blackrock and similar corporations can purchase entire neighborhoods and price me out?
Rate cuts have started in Canada hasn't even moved the needle on buyer's for houses. The media(government) says we have a supply problem, but the only problem I see is greedy sellers and agents thinking prices over the last 4 years have been normal.
Florida the best place to live? Ok yeah if you are rich person. How about if your are a working class person? Wages are still horrible there.
Fl has become a state for the rich! We are out next year! Cant come fast enough!
@@user-xj3ck5oy2x we are out next year?