We definitely need to read between the lines here because DOM has gone up, inventory is slightly up and price cuts are happening more and more all while prices have gone up. So the thing to keep an eye will be the allocation of homes sold at the higher price point. Almost 50% of the homes in the $1million + are the ones selling pushing up the average (median)
@@JimFriend-iw3ev actually you’re wrong and he is right. The data is pretty clear. Lesser homes can’t sell, averages are accounting for higher priced homes. Look no further then the sales numbers YoY. 😂 you’re always wrong
I travel alone a lot. There are many, many wealthy people around the world who are not Americans.. If you're curious about who is buying these homes.. It's a global market 😮😮
Yep. And just think of how much money is in Bitcoin alone, and you make your profits in that, and then buy a home. People think that Joe the Plumber and Nancy the Nurse are buying $1.5M homes. And that's like a normal looking home now, not a mansion.
Hi Jason. Question about using median price to track the RE market. The MEDIAN reflects not only the market as a whole, but potentially also the shift in market. In a not so hypothetical scenario where “average folks” have been completely priced out of the market (and the same folks cannot afford to sell), leaving only wealthy folks trading luxury homes back and forth, you can have an artificially elevated median price skewed by excess of high end homes sold. Thoughts?
This premise has already been debunked many many times. I suggest you pick up a dictionary and look up what the word "median" means and how it is calculated.
@klediluzha2869 lts not so much as l think about California, as much as l laugh at California. l lived there for 36 years. Sold my home and moved on to a more beautiful state, low crime, no ridiculous taxes or regulations. Somewhere l can enjoy the mountains and live free. I'm happy to see that some people are still staying in California. Geographically, California is diverse and fairly beautiful. But not worth the liberal politics or cost of living to me. lf it was, ld still be living there...
Another awesome report Jason. At this point the only solution I can come up with is to get elected to you City Council, along with others that think like you, and get builders to build lower square footage homes on smaller lots (not a problem I'm sure), and then pass laws that allow all residents currently on a waiting list first dibs on those homes for a reasonable price etc.. And that' I guess is not a solution because that would take years and years, and we'll never agree on anything anyways. I'm so depressed for our youth. Maybe aliens will come down and show us a solution, I don't know anymore. The way your numbers look Jason, we're basically at $700k for a starter ANYTHING in Cali.
Thank you for watching the video and for leaving a comment. I remember when $1M was a luxury home in Sacramento. Not anymore. Home prices have increased greatly over the last several years. We still have a ton of homebuilding in the Sacramento region but many of them are at higher price points.
Just bought our very first home last October. It wasn’t easy but we finally did it! Now we own a phat mortgage and get to live in this house. if we don’t pay, we’re screwed 😅 🏡 🫡 🇺🇸
Buying a house in CA, The more high price, the more high property tax and increasing every year. Also high home insurance too. Think hard.before you buy a house in CA
Personally, my home insurance has increased very little over the past several years. Also, CA homeowners are protected under Prop 13 which limits property tax increases to 2% per year (much different than other states that increase to current value).
Southern California housing market is absolutely massive one of the largest on Earth and now stretching as far East as Las Vegas #brightline_west so make no mistake despite the massive fire(s) all preventable btw (#rush_to_build) now more clear than ever the craziness is back. Verdict: stick to gambling it makes more sense 😊😊
We definitely need to read between the lines here because DOM has gone up, inventory is slightly up and price cuts are happening more and more all while prices have gone up. So the thing to keep an eye will be the allocation of homes sold at the higher price point. Almost 50% of the homes in the $1million + are the ones selling pushing up the average (median)
The median price continues to rise because more houses are now worth more money.
What a shocking observation.
@ Bitter party of one
@@JohnnyCastaneda-kh5oo lol, bingo. This guy is all over YT being a clown. He has multiple accounts btw!
@@JimFriend-iw3ev actually you’re wrong and he is right. The data is pretty clear. Lesser homes can’t sell, averages are accounting for higher priced homes. Look no further then the sales numbers YoY. 😂 you’re always wrong
@@JohnnyCastaneda-kh5oo have you seen the trajectory for 25’? Already 10% less sales than 24’ for Jan. Smh. Crazy times
Thank you Jason. You are excellent with all of the details 🙏🤗
You are so welcome - thank you!
Thank u for the update! 💯
You bet
Ty❤
I travel alone a lot. There are many, many wealthy people around the world who are not Americans..
If you're curious about who is buying these homes..
It's a global market 😮😮
Agreed. The market is now global. With Trump and his administration taking over the benefits of living in the USA isn't really worth it anymore.
Yep. And just think of how much money is in Bitcoin alone, and you make your profits in that, and then buy a home. People think that Joe the Plumber and Nancy the Nurse are buying $1.5M homes. And that's like a normal looking home now, not a mansion.
Hi Jason. Question about using median price to track the RE market.
The MEDIAN reflects not only the market as a whole, but potentially also the shift in market.
In a not so hypothetical scenario where “average folks” have been completely priced out of the market (and the same folks cannot afford to sell), leaving only wealthy folks trading luxury homes back and forth, you can have an artificially elevated median price skewed by excess of high end homes sold. Thoughts?
This premise has already been debunked many many times.
I suggest you pick up a dictionary and look up what the word "median" means and how it is calculated.
Too much sate nonstop
I just tune out
lm just surprised people still live in California. l mean the weather is nice, but that's about the only plus...
It’s interesting that you think about California, we don’t even think about flyover states
@klediluzha2869 lts not so much as l think about California, as much as l laugh at California. l lived there for 36 years. Sold my home and moved on to a more beautiful state, low crime, no ridiculous taxes or regulations. Somewhere l can enjoy the mountains and live free. I'm happy to see that some people are still staying in California. Geographically, California is diverse and fairly beautiful. But not worth the liberal politics or cost of living to me. lf it was, ld still be living there...
Another awesome report Jason. At this point the only solution I can come up with is to get elected to you City Council, along with others that think like you, and get builders to build lower square footage homes on smaller lots (not a problem I'm sure), and then pass laws that allow all residents currently on a waiting list first dibs on those homes for a reasonable price etc.. And that' I guess is not a solution because that would take years and years, and we'll never agree on anything anyways. I'm so depressed for our youth. Maybe aliens will come down and show us a solution, I don't know anymore. The way your numbers look Jason, we're basically at $700k for a starter ANYTHING in Cali.
Thank you for watching the video and for leaving a comment. I remember when $1M was a luxury home in Sacramento. Not anymore. Home prices have increased greatly over the last several years. We still have a ton of homebuilding in the Sacramento region but many of them are at higher price points.
Just bought our very first home last October. It wasn’t easy but we finally did it! Now we own a phat mortgage and get to live in this house. if we don’t pay, we’re screwed 😅 🏡 🫡 🇺🇸
Congrats on your purchase!
Thank you Jason!
Happy Monday Jason
Happy Monday, Steve!
Buying a house in CA, The more high price, the more high property tax and increasing every year. Also high home insurance too. Think hard.before you buy a house in CA
Personally, my home insurance has increased very little over the past several years. Also, CA homeowners are protected under Prop 13 which limits property tax increases to 2% per year (much different than other states that increase to current value).
@@JoeyOlin Just heard of prop taxes going away inTexas first. CA should follow as well.
CA is a wild market. Seriously, where do the everyday workers live? Not joking. What happens to the median value if you split the state?
@@LockedUpLarry they have to commute 1.5h just like us
Southern California housing market is absolutely massive one of the largest on Earth and now stretching as far East as Las Vegas #brightline_west so make no mistake despite the massive fire(s) all preventable btw (#rush_to_build) now more clear than ever the craziness is back. Verdict: stick to gambling it makes more sense 😊😊
No, but you should buy a home in Vegas
Happy Wednesday Jason!
#EveryMarketIsDifferent
#LetsGetNerdy
Happy Wednesday my friend!
@@JasonWalter1 #SpreadSheetKing😊
Hi Jason what do you think about the LA fire's impact? Positive or negative to house price in CA?
Positive. If you mean my California house value goes up. ✝️🇺🇸🏠💰
Less supply, prices go up.
The areas where the fires happened? Down for sure. No one wants that risk.
The surrounding areas that they are moving to? Up but only temporarily.
Positive 100%. Sudden decrease in supply and demand.
Buying Cali house sucks? Newsflash.
What a mess!
🤙🏽🌴🤙🏽🍍🍍
Thank you Jason. You are excellent with all of the details 🙏🤗
Thank you kindly!