I mean - I called it. But now that it's happening it's a bit surreal. First Key Homes is the 5th or 6th largest owner in America. And there's now examples popping up of them selling at a 25% loss. Up until now - we had seen less extreme examples of investors selling that I had reported on in previous videos. But this one is stark. You need to track the housing data in your city/ZIP code to see what's happening. Head to www.reventure.app right now to do that. Inventory/home value data is free.
This is America, not Cuba. I agree with you but freedom comes at a cost. I don't want the government telling anyone who can and who can't buy homes, cats, guns, or food.
@@Hand_me_a_handleExactly, If the American government wants to lockdown the economy and force people not to work. Then over print the dollar and cause massive inflation….to bad if people have to sell their homes to corporations. It’s America not cuba. If you lose regardless if the system is rigged you still lose. Your weak. Corporations will hopefully own everything. America!!🎉
I have been telling family and friends since about 2 years ago that the crash is coming. I told them all to buy gold, Sell stocks, Keep liquidity in case you need to shuffle assets. I even told them two years ago about the coming draft. They are now all looking at me and asking for my opinion now. Interesting how channels have finally started talking about this direction for about the last 6 months to now.
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.
“Sharon Ann Meny” 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.
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.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Contemplate shifting your investments from real estate to other dependable options such as stocks, cryptocurrencies, or precious metals. Severe recessions present potential buying opportunities in the market, but it's essential to approach them cautiously due to the volatility that can provide short-term trading possibilities. While not offering financial advice, it could be prudent to consider investing, given that holding onto cash may not be ideal during this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
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 awhile 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.
Terri Annette Moore is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
From my analysis, 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!
Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.
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.
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.
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.
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.
No fire sale and it is far different than 2007/2008. WHY, because condo fees have doubled and tripled, insurance costs have gone through the roof, repairs and reserves on most buildings are out of control so no real estate agents are willing to say that if you think you need $1500 a month then double the money to meet all the other expenses so you actually need $3000. I had no mortgage and I was priced out of my condo just because of the huge increase in condo fees, insurance, repairs, and taxes, huge. Just moved to Europe at 73 years old since USA is out of control.
Never going to happen. The divide will likely only get worse. A decade of extremely low interest rates causing inflated property values means people will be holding on their properties and not selling. Supply will be constrained for a while and interest rates will likely be lowered next year if not later this year which will only accelerate the market even more.
@@stephet3683 That's the dream but reality is likely very different. The assumption that lower interest rates will spur demand instantly is not at all likely. The conditions that foment a fall in interest rates are far more likely to subdue house prices.
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
I suggest you offset your real estate and get into stocks, 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 advise but get buying, cash isn’t king at all in this time!
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.
Melissa Elise Robinson 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..
you got that right. investors have f**ked the real estate market so bad that even modest single family homes are unaffordable for most people. wall street can go to hell for all i care.
There's a bill before Congress to limit hedge fund investment into homes. In any case, large investment companies own just 3% of U.S. homes. Most investment homes are owned by small individual investors.
I think it's ok for individuals to own a few rental properties, but giant hedge funds and corporations. or government entities buying up whole neighborhoods at a time needs to stop yesterday. This next crash should fix it.
Ah you mean the idiots around here trying to sell 40 to 50 year old starter homes for 400k at about 1000 sq ft? 😆 You are correct. Those houses arent worth 200k.
@@breadnaut3087 the sad part is there are still stupid people buying them. Only need one idiot to buy the overpriced home. I can't believe the housing market hasn't crashed already. I guess there are more stupid people than I thought
I am THRILLED these investment companies are taking losses on these homes. They have NO BUSINESS buying single family homes and renting them or leasing them. If I was in government, I would make it illegal for investment companies to buy single family homes. It unnecessarily drives up prices, making it more difficult for regular people to buy. They prevent people from building wealth.
27 million homes are owned by investors - this should be a crime. There is no way housing should have been allowed to become investment capital. I hope they go broke and we finally find a way to own a home again.
That began with the 1999:"Affordable Care Act", which of course, did the opposite q what it was supposed to do. Cooked up by Dodd-Frank, may their names live in infamy and signed by "Bubba" Clinton. Whether sheer incompetence or malicious, it eventually led to a crash in housing and in the stock market. I remember because I never recooped the money I lost in stock market crash. Color me bitter. Of course, in the nine years in between, the traders brokers etc. created instruments that made things worse, the SEC either did nothing or aided and abetted and the Bush administration were deaf, dumb and blind!😡😡😡😡
Crazy how the state says your home is worth $1 million so we’re gonna tax you for that million. Even if the house cannot sell tire a million. Isn’t the value is the house based on what someone is willing to pay for it? Shouldn’t the assessed tax of a house be what it was last purchased for? That should be the standard. Your taxes should be what you purchased your home for, not some price tag the government places on your home that they themselves wouldn’t pay.
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings losing value because of high inflation. Where else can we keep our money?
@@EdmundEthan093 Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@@roxdietren this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
@@AlfredStephen127 My CFA Jessica Dawn Walters, 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.
@@roxdietren Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent
I've worked for homebuilders for almost 2 decades. The unfinished house is typical - especially at that price point. The street view shows the house wasn't started at least in Sept 2023, so that's less than a year. Semi-custom builders will build out the house to a certain point but they want to get it under contract with a Buyer before finishing. At this price level, Buyers want to pick their own interior finishes, so you don't want to finish the house before selling it. Tract Builders finish homes before selling them. They're called spec homes. I assure you, nobody has "abandoned" this structure.
I think the "self-contained" 55+ communities in central Florida are somewhat insulated from the craziness, which is one reason why they're called "Bubbles" (quite a world of their own in several ways). For sure they're insulated from the continuing mess we see in Miami with it's condo/home insurance issues. But then in those55+ :golf-car-focused" communities there are hardly any (IF any) condos -- just single-family/detached homes. Yet prices there are STILL quite affordable even now: From under $200K for an older (but still nice) home in The Villages to homes $1M+, so there's something for every budget. Am in West TX now (ELP) as I continue financial preparation (working on my DTI Ratio mainly) to BUY a property in late 2025/early2026 (when I'll be ready) and can only hope (1) we have more housing supply (especially new-builds/ new subdivisions) to lower home prices and (2) the mortgage interest rate is down to where I want it. But Plan A is to move back to CO (Springs) to buy. Plan B is FL (The Villages or OTOW), and Plan C is just stay here in ALREADY way cheaper TX. CO would be the most expensive place, but I like it there the most partly because I miss having 4 seasons, but if need be I could give that up moving to FL or staying in TX. Time will tell though as it all depends on where the housing market is in 2 years time. We can only make guess now as no one knows -- even the "experts." ;-) -- BR
if so they why has median price homes have been parabolic last 100 years? especially post 2008 for TX and FL? Nick likes to cherry pick SW florida which is extreme condition.
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.
Not to blow her trumpet, but Svetlana Sarkisian Chowdhury is exceptional in navigating tough markets. She has been planner ever since we met in London global economy conference. she's verifiable , so you could just search her and book an apointment. good luck!
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I hope you are right Nick. Because I’m not seeing that here in AZ, especially in N AZ. There are still too many sellers trying to make $300,000 in less than 2 years from when they bought the house.
@@tradewisetv2801 Yup, that’s exactly what they did. They also bought up all the choice properties in Sedona and put it up for Bed and Breakfast and when that business plan wound up losing money, they listed at double what they paid for. That’s why you see these houses listed for over Million Dollars which sold for less than $600,000 in 2021. It really is disgusting the way NY corporate investors are allowed to buy residential properties without any restrictions. Also foreign investors are a major problem in this country. Foreign investors should not be allowed to buy homes here in the US. Even in Mexico, Americans are not allowed to buy land there.
Some big factors here in Florida are rising property taxes, unaffordable homeowners insurance, a glut of brand new homes and apartments and less people moving in .
I mean literally the single largest factor there is is the purchase price of a home being close to 45% more overpriced than in 2007 at the peak of the last bubble. Interest rates, taxes and insurance are just icing on the cake. Even with affordable insurance and 3% rates you'd need to be making $90,000+ a year to be able to afford a 3-bedroom fixer upper in most areas of Florida at around $300,000. Signing up for mortgages that equal over 38% of your net income monthly is what caused the foreclosure crisis in 2008 when unemployment skyrocketed, but in 2021-2023, millions signed up for mortgages at 44-46% of their net income and THEN their insurance, groceries, utilities, and transportation costs doubled.
Another thing I forgot to mention. I moved to Orlando in 2010, after the real estate market crash. I lived there until 2021 (personally, I loved living there). When I first moved there the big thing that people told me was just how rough it was not only going thru the real estate crash, but just prior to the real estate crash. Just how unaffordable everything had became by 2006 and how screwed everybody was. The market crashed so bad that it didn't start to recover until about 2014 and even then it was making small progress. I can see history rhyming already.
If my house value declined by 50 percent, I'd still be sitting pretty. I bought my house to live in until I retire and a value drop would lower my property taxes.
It would save me a couple thousand Every year for 20+ years. Over life of mortgage, decrease taxes and insurance would equate to the 50% loss. But I don't intend on selling and property appreciates.
Yeah but owing more money than your property worth itself is already a pretty bad purchase. If you got mortgage to buy the home that’s even worse, as you’re paying pretty much tax + interest for first 10 years.
If our home dropped 25% in value, it would still be more than what we paid for it in 2023. If we had to move, we could rent it and net $3k/month. Sometimes housing prices don't really matter.
@@eddiemalvin You expect your cash flow in your home to be $3K/month? Just from a single property? Don’t f-ing exaggerate. Even if it’s true, you won’t get that much money if at all in an environment you’re forced out of that property. Also it didn’t go up 25%. Stop the BS.
You made a comment about the builder not finishing the homes, probably running out of funds. In Cape Coral, the builders build the homes almost to completion. When the house is sold they then put in the appliances. If they do not CO the house they do not have to pay taxes on the house, they only pay the taxes on the dirt. Why would they finish the house if it is not sold?
Or they cant find contractors to finish the building as everyone is very busy. I know a few contractors (and I was one too 😊) it seems starting multiple jobs and then leaving them all half finished is a standard business practice. Highly praized in their circles. They litarally boast to each other how many unfinished jobs they have 😊😊😊.
As a Florida Certified Contractor, I can say that even at a 30% reduction, that home is still overpriced. You do not want to move to Florida and purchase a home. Even if you find a home for 75% off. Check the home insurance costs! Outrageous! Insurance companies love to collect, but never to pay!!!
Very interesting point about the new ability of homeowners to check Zillow and see Zestimates dropping before their very eyes--like a stock market account.
*****Development LLC owns 5 homes, purchased 2021 & 2022, started renovations, via private lending. Investors stopped lending, houses left 1/2 finished ..Now, in Foreclosure/Auction. All but one was completed. (priced to high, did not sell). Scottsdale/Paradise Valley - AZ. It's just the beginning...And this is only **one** investor. Buckle up!
@@wwjccsd It depends. A half-finished home is still worth something to a potential buyer as permits, plans, and utilities have been completed. But not a whole lot over the basic land value as a few months of exposure to the elements makes it basically worth the cinder blocks put into it. If you can finish the home yourself, then it can be a good deal. But most are too large and overblown for that to make sense. They allbuilt 3 and 4 bedroom homes (if not even larger) instead of the 2 bedroom homes that are affordable to finish for first time buyers.
The funding to build houses hasn't dried up. The person borrowing the money was probably an inexperienced hack and a high credit risk. There's lots of people who aren't.
Florida Native here. Our real estate is regional as to what values will be. It's regional as to climate as well. South of St Petersburg or Vero will get less of a cool season than St Pete and North. The big money is Palm Beach to Miami along the coast/beachside communities. Then it looks like beachside Sarasota has gone way up. As well as Beach Side Bradenton. Beachside Pinellas County (St Pete Beach, Treasure Island, Madeira, Reddington, Indian Rocks, Clearwater are big money now too. Beach and inland towns to the Pinellas County will hold their value at a plateau at worst or continue to go up in value. The reason is they are all 15-30min towns without anymore room to build. Pinellas is a peninsula with a great infrastructure of parks, schools, pro sports, restaurants, night life, beaches, and safe to live compared to what's going on in the rest of the country. And all Pinellas County towns are 15-30 min to Tampa. Tampa is along the bay with some high dollar homes and suburbs as well. I think Tampa is a bit overpriced and too far from beaches for the money. This video on Punta Gorda... That area has never developed and was trying to grow and become something. The values on the barrier island beaches will still go up or plateau as there isn't anywhere else to build. But off the beaches in Bradenton, Sarasota, Port Charlotte area, Ft Myers, and Naples will not gain for a while and might even be where the drop will occur as they all have plenty of land to continue building inland off the barrier island beaches and the infrastructure started many decades after Tampa/Clearwater/St Pete. You'll find a similar pattern in value on the East Coast as well. Beachside towns will hold, plateau at worst, or continue to rise as there is no more land... but inland will be the risk. Now some of the large acreage for ranching, agriculture, or just country living will most likely hold or plateau at worst as those types of real estate have become harder to find and are in high demand. So if you want a good beachside deal, look to the Panhandle of Florida. But fair warning, that's where more hurricanes hit. So you must build with that in mind. They build ports in the ground floor garage to let the water flow through. Double up on all rebar and strapping, Go solid block to the roof... pour fiber mesh concrete into all walls. Build a hip roof with a 4-12 pitch and put metal roof with fasteners around the hips every 3" and double strap all rafter/trusses. Definite on impact windows. And your home would withstand 165 mph storms... I've built a few but now just building my own. There you go from a Florida native... Don't be afraid... The sky isn't falling here... it's just sunshine and rainbows. ✌😎
I live on the south side of Tampa Bay, have lived and worked in the Sarasota / Bradenton area for many decades. You sir are 100% Correct! Location, location, location. Although I think the Cape Coral / Punta Gorda area would still be an excellent choice for people moving down to Florida from New York.
I was in the market in 06-12. I learned A LOT. It feels a lot like 06 right now.... In 06 I was one of the people in denial about the market going down. I sounded just like the people saying "up only" now. I'm approaching this market differently this time around. I'll be a buyer in the next 1-5 years and I will be getting some great deals.
Yes, 100%, I bought my house in 2013 for 1/2 price. The market is always lagging 18-36 months. This market will crash again, and it needs to. I can't wait to buy a 2nd home in Florida in 2-3 years.
Sold a house in Iowa in 2005 and moved to Vegas. Went through 2006-2008 refusing to buy a house in that crazy market because those skyrocketing values did not make any sense. Finally bought in 2009 because we thought it was over and the bottom was hit. When we lost it in 2011 (paid $340k, sold in short sale for $250k) we learned the lesson of a lifetime. I’m going to wait this one out (sold in Jacksonville in 2021 because First Key Homes bought it at a stupid price in a bidding war) and when I think we’ve hit the bottom, I’m going to wait one more year. I don’t feel sorry for all these jokers that swear it can’t happen. It couldn’t happen last time, either… until it did.
@olabeaman3383 sorry to hear that, these prices are coming down because 50% of the population can't afford $3000 house payments (insurance, taxes, interest, principal) for a home that should be $1850. The difference this time is insurance. The insurance is crazy in Florida.
In 2006 while working on Wall St. there wasn't a single person I could convince there was a bubble. Not a soul. It didn't matter how many metrics you knew that pointed to the unsustainability of it all, nobody would listen and many of them were eventually wiped out. One of the tell-tale signs of a bubble is wide spread self-delusion.
Please explain specifically what about now "feels like 2006", whatever that means. What is going on now that was like then , exactly? And just saying "high prices" isnt an answer.
*I bought in last crash and people have no clue how bad this will get, Cape Coral is mostly contractors who rely on home building Ect work when it dries up you’ll see 50% crash*
@@Peepppinpppper it’s not but let’s not troll. A lot of younger and middle aged people have moved to the area. It isn’t the same retiree city/town. Have friends who are realtors from the villages all the way down to Cape Coral. Let’s not continue misinformation lol.
What exactly does “Couldn’t rent it out” mean? Any home is rentable at the right price. No one wanted to pay $2745, so it sat vacant for two years while the price dropped $109,000? Because they wanted above-market rent? Insane.
The investors couldn't drop the rents because that would cause the rents on all of their properties to drop. They would rather leave it empty or sell. The dam will eventually break on rents as well as prices
My family owe you a great deal of thanks. We've been following your channel for about 2-3 years now and at the height of the bubble in FL, we moved our family from Tampa (after leaving there for >12 years) for rural NH. Our insurance costs and property values is one of the major factors of pushing us out (increase of >$300/month in one year). We were lucky enough to get out quick with a house flipper purchasing our home for cash (less overall $, but very quick turnaround to move). We loved the freedom that FL provided through the Plandemic, but the cost to live along with the strangulating devaluation of the dollar was becoming too much. Without your info, tracking, and presentations, we wouldn't have been able to connect the dots intellectually of what we knew instinctually, "if we don't get out of FL now, we won't get out for the next 5-10 years if ever". Please continue doing your good work, you are helping many more than you know. Godspeed.
Will this happen nationwide? I hope so! I’m in Maryland and see home prices going down, sitting longer, foreclosures, relistings because financing fell thru, and some homes taken off of the market because they raised the price in Spring and it didn’t sell! So, they just removed the listing, waiting and losing money. 😂 I LOVE IT!
@@garthhughey7063if you sold back in 2021, you would need prices to drop 30%+ just to rebuy at those prices …. Timing the market, 90% of the times ends badly
This situation would make a great movie. For example "The Big Short", "Margin Call" or "Inside Job". By the way the proper quote is "Those who cannot remember the past are condemned to repeat it". -George Santayana PS Keep up the good work.
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
We are renting a home from First Key in NC. We were the first renters to move into the home after they purchased it from the original owner. We're on our 3rd year here and still paying less for the size house we're in versus buying now. If the market goes the way I hope it does, then this will be our last year here. I'm just sitting on my capital hoping/waiting for the market to drop into my buying range. Thanks for your videos and insight on the market.
@@vishnu2699 we are moving out into the country. I'm retired and moving where nobody wants to live. Our plan is to either buy land and build or buy land with a house already on it. We are only staying put in our current house until the youngest graduates high school next year.
No fire sale and it is far different than 2007/2008. WHY, because condo fees have doubled and tripled, insurance costs have gone through the roof, repairs and reserves on most buildings are out of control so no real estate agents are willing to say that if you think you need $1500 a month then double the money to meet all the other expenses so you actually need $3000. I had no mortgage and I was priced out of my condo just because of the huge increase in condo fees, insurance, repairs, and taxes, huge. Just moved to Europe at 73 years old since USA is out of control.
@@TylerShortthe “but foreclosures are low” crowd all shocked by the obvious reality that there exists more than way for supply to come to exceed demand for an extended period of time
Do you rly think that port a potty and some cheap stuff left behind matters to somebody who is looking on a bigger picture crashing down worth milions? You don't know anything about business... you deal with small stuff ast they come and go, but bigger things, you do them right now... they are looking to secure more money etc in hopes to finish or save themselves...
Building codes require them to have a dumpster and toilet even if there is no work going on. Or they will have to pay a fine. They probably have stopped because all contractors are too busy cant find plumbers and electric contractor.
Beryl the earliest Cat 4 ever. If a Cat 4 or 5 hits Florida this year the insurance industry will abandon the state. That will be game over for the Sunshine state. Any young person with advanced skills and credentials would be foolish to move here. They can do better in other states with lower risks.
We used to keep our boat right down the road from those neighborhoods in Punta Gorda. That area is in the middle of nowhere with no grocery stores, no hospital, no restaurants. I don’t believe that the investors knew what they were buying.
What they don’t tell anyone in the video is it’s not one of the more desirable areas to live in the state. No offense to anyone who lives there. But it’s not for everyone.
I lowered my list price by $90k in 6 weeks to get it under contract. Thankfully closing in 2 weeks. Other homes in my price range have been sitting for 6 months or longer, some over a year.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
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.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
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 Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
*Having multiple streams of income is a game-changer for stability. Relying solely on a job may not provide enough financial security due to high rates of tax, it is important to explore additional investment opportunities to surpass one"s expectation*
The first step in every successful investment is to establish your goals and risk tolerance, a task best undertaken with the assistance of financial advisor.
I remain eternally grateful to Judy Arianna for her efforts that got me to this point, finally payed off my mortage and all my debts, what more could I"ve asked for. She changed my life
Judy Arianna. understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
House that investors are taking a $110k loss looks like it could still drop more. Dudes bought it at the absolute peak. Look at pre pandemic values in the $200k range.
As a homeowner in Texas, the only times I want my home to have a high value is if I'm leveraging equity or selling it. When it comes time for property tax valuations I want the value to be as low as possible.
Did you hear about the scam The homebuilders are doing where they’re putting sold on every other house and then when people move in they say the deal fell through and it’s back on the market?
Im Here in FL Renting since 2012 and I try buy a House for me and My Family of 7 , budget in 2012 was 250k, them 2020 350k now Im forced to buy a 500k same house because this Invitation Homes, First Key, Progress got all the houses from my area.
@@jacqueblue If he's in SoFlo and he waits he'll pay $700k. What this guy is talking about is not happening down here. You list a house and sit back and watch the bidding go wild. List down here at $400k and you'll get $500k. In a month.
In my community in West Palm Beach there are 51 homes for sale. Many aren’t even getting showings. A settlement company closing agent said, “bank appraisals are coming in lower than market values” . This will be the start of a snowball effect. Thanks Nick for the great content.
Thanks for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of a few months. Sad to say but a lot of us have poor money management skills. My 2 cents -get an advisor to keep you accountable and aid you make better decisions, Linda Wilburn has been helping me a lot, all through my journey. I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get >burned.
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
Since home prices are belly up and there is no way to lower interest due to exploding inflation. There is no way people can afford these overprice houses.
There is another way of looking at this. The "value" has not dropped, "they overpaid". You could be polite and say they miscalculated because rates were kept too low for too long.
The amount of dollars needed to buy a house increased, the "value" of the house never changed. There is no way my house is worth almost $500k more than when we bought it 10 yrs ago. 😂
You’re absolutely right! They’re selling off like crazy in upstate New York. I was on Zillow last night and was looking in the area and noticed how First Key Homes was just standing out with all the inventory they’re were selling. Bullseye! ❤
My niche right now is new construction, due to the better insulation impacts from insurance skyrocketing here in Florida. I'm seeing the same thing here in central Florida/Orlando metro. Inventory is shooting up as new construction is being put up. The thing that I hear from some reps, is that they have pulled permits to go out for the next couple of years. In my last market update, I let people know that I expect inventory to continue to rise throughout the rest of this year, regardless of the selling season. New listings will of course fall but not to the level of normal season. Im guessing that we will start seeing negative YOY numbers starting next year, IF they don't fix the insurance issues here and I don't see how they're going to stop hurricanes and tornadoes from developing. DeSantis came out and said that Citizens is going to be insolvent when another major storm hits. I'm personally not buying anything until probably 2026/2028.
Great information. Sucks for investors but they’re the reason that home prices have been over valued by 40% and the average home buyer was priced out of the market. This will be a a major factor for the fed to start dropping interest rates so the mortgage industry can get back to normal and people can start to afford to buy houses again. 👏🏽👏🏽👏🏽
Great! I’ve been stacking cash, waiting for the downturn. By the way, that Punta Gorda neighborhood has crap infrastructure: no underground stormwater drains and presence of overhead electrical poles that get strapped like toothpicks when the last hurricane hit there.
Your "cash stacking" isn't even keeping up with inflation let alone rises in asset values and your little money will be no competition for people and corporations with real money. Better just get used to forever renting.
@@JaydogRules-q6w lol exactly!! He thinks he’s going to be getting the good deals and not the corporations. Also the power lines? Are you kidding this is Florida that’s 95% of the state.
@@Peepppinpppper and user-wg3r6yg1l Good point. It’s funny how all these small time “investors” are waiting for this up coming massive crash and are going to swoop in and get rich or buy homes at 1/2 their value. No doubt they’re going to out-smart all those evil corporations and current home owners who deserve to loss their ass. lol
Institutional investors are the prime reason.. my brother bought a new home in a new community and even before he got the keys, he was approached by Chinese and local institutional investors whether he is willing to sell the home to them for a premium price ..
16:38 - what about all of the larger businesses that fled Chicago and NYC because of the crime and poor policing? Recently Citadel was embarking on making Miami, “the Wall Street of the South”
I wouldn't be surprised if they are listing their homes at firesale prices in order for other owners to have to do the same and then sweep in and buy those homes too, at a steep discount.
It's not that the builders are abandoning the houses, they're abandoning the buyers. I've had 2 duplexes with two separate builders that I signed 3 years ago, still not done. They take your deposit/draw payment, and then it sits. Beware new builders in FL, it's a lawsuit waiting to happen
Inventory being way up from a record low level isn't that big a deal. In Houston, inventory despite the rise still isn't at the level of a traditionally balanced market.
I lived in Florida, left for California. The combination of insane insurance rate increases, extremely low pay for work, house prices that doubled in the Jax-St Augustine-Daytona market, excessive heat and stronger storms. There is a lot going on in Florida and a lot of it isn't good. California quadrupled my income and the weather is perfect. Insurance remains an issue, but social factors are about the same.
I take California any day . Over florida. I just can't stand the risk with hurricane cat 4 cat 5 Plus insurance to roof . Plus California has prop 13 to protect homeowners from unreasonable property taxes .only allowed 2% up per year if you own home .
Shortly after the Covid restrictions began in my state, we took the kids out of school sold our house and by 2021 we had moved into a brand new HOA community in central Florida. I was still working remotely and we were comfortable enough financially for my wife to take a break from work. Now I have had to find a new job, I am commuting over 1 hour each way 4 times a week for less money than I used to make and my wife has not been able to find a reasonable job that pays enough to justify what would likely be a similar commute. Coupled with the CRAZY HOA due hikes and insurance out of control we are literally torching the money we had pocketed after the move month by month. Long story short we have committed to taking the first job offer I get and moving as soon as we can. It’s hard to look at my wife everyday knowing I led us into this situation 😔
@@JaydogRules-q6w I absolutely do and one I enjoy. Only do that as a hobby while I’m deciding what to do with my own home purchase and because those in the real estate industry are so dishonest or ignorant
If the housing market collapses and all houses lose 50% of their value, that would only mean that the housing market is valued on par with the market in 2019. I doubt we will see houses fall back to 2011 levels.
Great info! I just checked two zip codes in AZ 85212 for sale inventory 25 in 2021 to 199 in 2024. Queen Creek 86 for sale to 341 this year. I feel even more confident in my decision to hold off buying till prices come down.
Agreed. There are as many worthless video commenters out there as there are worthless video creators. Regardless of if Nick is one hundred percent correct, one hundred percent of the time, in one hundred percent of the locales, for somebody to just chime in with "he showed that data six months ago, crash hasn't happened yet in X" like that's equivalent. It's such a superficial level of understanding and questioning. Anyway, keep up the good work Nick. I use you as a source, a pretty trusted one, because you use data and a pretty deep dive and a pretty cross-checked exam of your own biases and what could also explain trends. Please ignore most of these anonymous, one line, nothing added but bumper sticker bullshit complaints.
It wouldn't be an investment if the government didn't invite infinite people to colonize the country while enjoying the infrastructure, schools, healthcare system, job market, electrical grid, social safety net, and every other system built by the people who founded and created this country. Infinite people means high demand for housing, which means high rent and high return on invested capital.
Go Nick Go! As a Florida native I'm seeing Florida zestimates are coming down! Crazy what Florida is going thru. Keep up the great work! L Knowles Space coast Florida
Hate it for my equity, but hope it can improve circumstances for next generation of homeowners Made it thru GFC drop in FL...will weather this as well.
It doesn’t only help new buyers when housing costs drop.a Consumers having more spending money after paying rent or mortgage is wonderful for local small businesses.
Nick great post! I agree with most of what you're saying, except it is going to be much worse than 2008. It will not take a year or 24 this to come about your idea about Mommy pop investors seeing their home prices being reduced significantly It's already making them panic. Right now, many mom and pop investors have taken their homes from B&B and are trying to rent them for absorbent prices.And they are not getting it, they're in my area.I see them panicking. And the result is them lowering Long term rent much lower then they expected. Fact! Your idea that values of their homes going down affecting them is very insightful and not something I thought of. Appreciate your effort all the work that you do for us. Great job!
He is sharing his personal opinion on the matter. Others may hold different or similar views on the subject. Despite rentals remaining vacant, prices are not decreasing.
im seeing rent come down in florida, i think you have to just wait for the rest of the country to see their ignorance. The fact that every home got super expensive throughout america during covid proves how bad of a bubble it is. Airbnbs are barely cashflowing or taking a loss and not worth the hassle (most not all). small investors with under 10 buildings are paying out the rear for all ancillary costs of home ownership, and their tenants have no pay increases and layoffs happening daily. If your tenants dont pay they start to get under on their mortgages lol so fucking glad my wife and I didnt buy a house.
Nick always emphasizes Worst case scenarios: The vast, vast Majority of Americans Do Not live in Austin, TX or Florida. Housing prices in the Northeast & Midwest are up like 10% + with Continued Low Inventory. Housing prices in cities like Cleveland are up Over 10%. Nick seems to believe the entire US housing market revolves around Florida as opposed to it being an outlier.
No, he just exaggerates houses that are in a unique situation to promote his doomsday narrative. This allows him to keep tons of money rolling in from UA-cam.
I don't feel bad for the residential real estate investors. They aren't losing any money, considering they've been gouging renters for the last 4 years.
Nevermind the interest rates i have been buying property cash in some cases and still have dismal returns, because of labor, property tax and bonds, insurance etc. no money to be made worth the headache in California. I'm out!!
I think it's so darn funny at this point. Oh 08 will never happen again... ok bro right.. haha. History ALWAYS repeats itself. The smart money is sitting on the side just waiting it out. I know we want out of Florida but figure let's wait it out. We wanted to get a new minivan and said nope with the outrageous prices. We are just gonna wait a year or two at this point. The crash will be epic!! The investors don't want it because they are gonna lose a ton but they will quietly pull all of their money out while having you invest yours so you take the massive loss.
If you are an investor and you overpay...oh well. If you look at the normal slope of the line the house value should only be worth $275,000. When the buyer bought in 22' the house was really worth $230,000. The idiot paid $445,000. Don't buy during bubbles they always burst.
You and Bordanero....kings of "the end the world"...this time for sure! Pure entertainment. Real estate is local. Not EVERYWHERE is South Florida . I started watching this guy cuz i thought he was cute. Same with Bordanero. Eye candy. Empty calories.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich
Celia Dullpher has really set the standard for others to follow, we love her here in Canada because she has been really helpful and changed lots of life's
I mean - I called it. But now that it's happening it's a bit surreal.
First Key Homes is the 5th or 6th largest owner in America. And there's now examples popping up of them selling at a 25% loss.
Up until now - we had seen less extreme examples of investors selling that I had reported on in previous videos. But this one is stark.
You need to track the housing data in your city/ZIP code to see what's happening. Head to www.reventure.app right now to do that. Inventory/home value data is free.
This is America, not Cuba. I agree with you but freedom comes at a cost. I don't want the government telling anyone who can and who can't buy homes, cats, guns, or food.
@@Hand_me_a_handleExactly, If the American government wants to lockdown the economy and force people not to work. Then over print the dollar and cause massive inflation….to bad if people have to sell their homes to corporations.
It’s America not cuba. If you lose regardless if the system is rigged you still lose. Your weak.
Corporations will hopefully own everything.
America!!🎉
I have been telling family and friends since about 2 years ago that the crash is coming.
I told them all to buy gold, Sell stocks, Keep liquidity in case you need to shuffle assets.
I even told them two years ago about the coming draft.
They are now all looking at me and asking for my opinion now.
Interesting how channels have finally started talking about this direction for about the last 6 months to now.
Nobody said I’m they would purchase high forever
I don't live in an Investor heavy area, but certainly feel sorry for folks that do
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.
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.
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?
“Sharon Ann Meny” 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.
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.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Contemplate shifting your investments from real estate to other dependable options such as stocks, cryptocurrencies, or precious metals. Severe recessions present potential buying opportunities in the market, but it's essential to approach them cautiously due to the volatility that can provide short-term trading possibilities. While not offering financial advice, it could be prudent to consider investing, given that holding onto cash may not be ideal during this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
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 awhile 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
Terri Annette Moore is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets.
Annette Christine Conte is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
From my analysis, 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!
Anticipate rising home prices due to inflation, potential economic fluctuations, and Federal Reserve actions, emphasizing the need for expert financial advice amid uncertainties.
Please can you leave the info of your invstment analyst here? I need such luck
Rachel Sarah Parrish is the licensed advisor I use. Just search the name. You’d find necessary details to work with 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.
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.
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.
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.
‘’Aileen Gertrude Tippy ’’ maintains an online presence. Just make a simple search for her name online.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
@@PatrickFitzgerald-cx6io She doesnt exist, stop with the spam...
A 45% Drop Across The Board Would Be A Good Start.
No fire sale and it is far different than 2007/2008. WHY, because condo fees have doubled and tripled, insurance costs have gone through the roof, repairs and reserves on most buildings are out of control so no real estate agents are willing to say that if you think you need $1500 a month then double the money to meet all the other expenses so you actually need $3000. I had no mortgage and I was priced out of my condo just because of the huge increase in condo fees, insurance, repairs, and taxes, huge. Just moved to Europe at 73 years old since USA is out of control.
Never going to happen. The divide will likely only get worse. A decade of extremely low interest rates causing inflated property values means people will be holding on their properties and not selling. Supply will be constrained for a while and interest rates will likely be lowered next year if not later this year which will only accelerate the market even more.
@@stephet3683 That's the dream but reality is likely very different. The assumption that lower interest rates will spur demand instantly is not at all likely. The conditions that foment a fall in interest rates are far more likely to subdue house prices.
@@lorraineperron4840 Europe is having worse inflation. I am confused.
Never going to happen
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
I suggest you offset your real estate and get into stocks, 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 advise but get buying, cash isn’t king at all in this time!
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.
Do you mind sharing info on the adviser who assisted you?
Melissa Elise Robinson 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..
Wow, her track record looks really good from what I found online.i just searched her name and messaged her and I also scheduled a call with her
Investors should be banned from buying houses. Houses are for people, not shitty Wall Street.
you got that right. investors have f**ked the real estate market so bad that even modest single family homes are unaffordable for most people. wall street can go to hell for all i care.
😂
There's a bill before Congress to limit hedge fund investment into homes. In any case, large investment companies own just 3% of U.S. homes. Most investment homes are owned by small individual investors.
@@driz77
He just showed you V the correct number is 25%!! Are you even listening?
I think it's ok for individuals to own a few rental properties, but giant hedge funds and corporations. or government entities buying up whole neighborhoods at a time needs to stop yesterday. This next crash should fix it.
Even if prices were reduced by 50% in my area the homes still wouldn't be worth the asking price.
You are correct!
Ah you mean the idiots around here trying to sell 40 to 50 year old starter homes for 400k at about 1000 sq ft? 😆 You are correct. Those houses arent worth 200k.
@@breadnaut3087 the sad part is there are still stupid people buying them. Only need one idiot to buy the overpriced home. I can't believe the housing market hasn't crashed already. I guess there are more stupid people than I thought
@@breadnaut3087
@user-qc4iu2cd7d the homes are worth what people paid. Just because you're a brokie doesn't mean everyone is/was.
@@breadnaut3087utter shacks in SW CO going for $600-$800M. I wouldn’t offer more than 30% of ask price, for a “good” shack.
I am THRILLED these investment companies are taking losses on these homes. They have NO BUSINESS buying single family homes and renting them or leasing them. If I was in government, I would make it illegal for investment companies to buy single family homes. It unnecessarily drives up prices, making it more difficult for regular people to buy. They prevent people from building wealth.
... their so called loses are tax deductable... No losses they get...??? Holes they've dug.. eyes Wide open.
A company should not be allowed to buy multiple SINGLE family homes. This is the problem.
👏🏽👏🏽👏🏽👏🏽👏🏽👏🏽
So what do people do who can't live in an apartment and can't afford to buy a home do if they can't rent a single family home?
@@MikeDeacon76why can't they live in an apartment?
27 million homes are owned by investors - this should be a crime. There is no way housing should have been allowed to become investment capital. I hope they go broke and we finally find a way to own a home again.
no, the crime is bailing them out when bubble collapses.
That began with the 1999:"Affordable Care Act", which of course, did the opposite q what it was supposed to do. Cooked up by Dodd-Frank, may their names live in infamy and signed by "Bubba" Clinton. Whether sheer incompetence or malicious, it eventually led to a crash in housing and in the stock market. I remember because I never recooped the money I lost in stock market crash. Color me bitter. Of course, in the nine years in between, the traders brokers etc. created instruments that made things worse, the SEC either did nothing or aided and abetted and the Bush administration were deaf, dumb and blind!😡😡😡😡
Rentals should be illegal? Some people actually choose to rent.
Screw you. Why should t people be able to buy invesent homes
Exactly, ban corporations and hedge funds from buying single family homes.
When people cannot buy a home, the value of the unsold home is $0.00
You WISH!!!
when people cannot buy a home, they rent. people need to live somewhere?
The value of a home is a myth until it is sold.
Crazy how the state says your home is worth $1 million so we’re gonna tax you for that million.
Even if the house cannot sell tire a million.
Isn’t the value is the house based on what someone is willing to pay for it?
Shouldn’t the assessed tax of a house be what it was last purchased for?
That should be the standard. Your taxes should be what you purchased your home for, not some price tag the government places on your home that they themselves wouldn’t pay.
Then why do banks use homes as collateral and securitization if they do not have value?
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings losing value because of high inflation. Where else can we keep our money?
@@EdmundEthan093 Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@@roxdietren this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
@@AlfredStephen127 My CFA Jessica Dawn Walters, 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.
@@roxdietren Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent
Keep your powder dry. Fire sales coming over the next few years! ❤❤❤
I’m praying southwest Florida has a big correction. I’m just looking for a house to retire, in 10/15 years. Got a good amount of cash saved I’m ready.
@@StLbfdupsame I want a vacation place down there.
you think so? I hope so! I thought this for years and its only gone up!
@@StLbfduprates are high and prices are still high :.. what do you think will happen when the Fed cuts rates ?
that would be great, I lost my home in a divorce and have been stuck renting the last five years
I've worked for homebuilders for almost 2 decades. The unfinished house is typical - especially at that price point. The street view shows the house wasn't started at least in Sept 2023, so that's less than a year. Semi-custom builders will build out the house to a certain point but they want to get it under contract with a Buyer before finishing. At this price level, Buyers want to pick their own interior finishes, so you don't want to finish the house before selling it. Tract Builders finish homes before selling them. They're called spec homes. I assure you, nobody has "abandoned" this structure.
Florida has always been a Boom/Bust State. It's Cyclical. Thanks Nick!
I think the "self-contained" 55+ communities in central Florida are somewhat insulated from the craziness, which is one reason why they're called "Bubbles" (quite a world of their own in several ways). For sure they're insulated from the continuing mess we see in Miami with it's condo/home insurance issues. But then in those55+ :golf-car-focused" communities there are hardly any (IF any) condos -- just single-family/detached homes.
Yet prices there are STILL quite affordable even now: From under $200K for an older (but still nice) home in The Villages to homes $1M+, so there's something for every budget.
Am in West TX now (ELP) as I continue financial preparation (working on my DTI Ratio mainly) to BUY a property in late 2025/early2026 (when I'll be ready) and can only hope (1) we have more housing supply (especially new-builds/ new subdivisions) to lower home prices and (2) the mortgage interest rate is down to where I want it.
But Plan A is to move back to CO (Springs) to buy. Plan B is FL (The Villages or OTOW), and Plan C is just stay here in ALREADY way cheaper TX. CO would be the most expensive place, but I like it there the most partly because I miss having 4 seasons, but if need be I could give that up moving to FL or staying in TX.
Time will tell though as it all depends on where the housing market is in 2 years time. We can only make guess now as no one knows -- even the "experts." ;-)
-- BR
if so they why has median price homes have been parabolic last 100 years? especially post 2008 for TX and FL?
Nick likes to cherry pick SW florida which is extreme condition.
@@bitcoindaddy1 The value of the home went up but the dollar has been debased much more, that's why.
ALWAYS
@@bitcoindaddy1can you elaborate I’m a little slow 🙏🏻
I am at the beginning of my "investment journey", planning to put 85K into dividend stocks so that I will be making up to 30% per year in dividend returns. Any advice?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Many people minimise the importance of counsel until their own feelings become overwhelming. A few summers ago, following a protracted divorce, I needed a significant push to keep my firm solvent. I looked for licenced advisors and found someone with the highest qualifications. She has contributed to my reserve increasing from $275k to $850k despite inflation.
To be honest, I've been wary of banks for a while, but I wasn't sure how to speak with an advisor first. Please let me know who your adviser is if it's okay; I need some recommendations.
Not to blow her trumpet, but Svetlana Sarkisian Chowdhury is exceptional in navigating tough markets. She has been planner ever since we met in London global economy conference. she's verifiable , so you could just search her and book an apointment. good luck!
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I hope you are right Nick. Because I’m not seeing that here in AZ, especially in N AZ. There are still too many sellers trying to make $300,000 in less than 2 years from when they bought the house.
OH JUST WAIT BROTHER, THESE INVESTORS ARE TOAST 🫡!!
AND ITS CERTAINLY FITTING!!
I left Prescott for that reason. Literally watched investors buy everything up and put it back on the market for double in a matter of days.
@@tradewisetv2801 Yup, that’s exactly what they did. They also bought up all the choice properties in Sedona and put it up for Bed and Breakfast and when that business plan wound up losing money, they listed at double what they paid for. That’s why you see these houses listed for over Million Dollars which sold for less than $600,000 in 2021. It really is disgusting the way NY corporate investors are allowed to buy residential properties without any restrictions. Also foreign investors are a major problem in this country. Foreign investors should not be allowed to buy homes here in the US. Even in Mexico, Americans are not allowed to buy land there.
@@tradewisetv2801 Where did you move to from Prescott?
@@tradewisetv2801 They missed the curve by a foot brother.
THOSE MONTHLY EXPENSES ALONE WILL WASHEM. Let alone what’s about to come 🤣
Some big factors here in Florida are rising property taxes, unaffordable homeowners insurance, a glut of brand new homes and apartments and less people moving in .
Bingo. As a investor here in Southwest Florida that's exactly what I'm seeing
Wait a few more months and buy a home for cheap and you can have no neighbors.
I suspect weather is a concern for many. The weather has been ramped up.
We are luvin it
I mean literally the single largest factor there is is the purchase price of a home being close to 45% more overpriced than in 2007 at the peak of the last bubble. Interest rates, taxes and insurance are just icing on the cake. Even with affordable insurance and 3% rates you'd need to be making $90,000+ a year to be able to afford a 3-bedroom fixer upper in most areas of Florida at around $300,000. Signing up for mortgages that equal over 38% of your net income monthly is what caused the foreclosure crisis in 2008 when unemployment skyrocketed, but in 2021-2023, millions signed up for mortgages at 44-46% of their net income and THEN their insurance, groceries, utilities, and transportation costs doubled.
Oh, I feel SO BAD for them! The car dealers with all of the add ons too! Poor babies!
Yeah certain car makers are having slow sales now too
Another thing I forgot to mention. I moved to Orlando in 2010, after the real estate market crash. I lived there until 2021 (personally, I loved living there). When I first moved there the big thing that people told me was just how rough it was not only going thru the real estate crash, but just prior to the real estate crash. Just how unaffordable everything had became by 2006 and how screwed everybody was. The market crashed so bad that it didn't start to recover until about 2014 and even then it was making small progress.
I can see history rhyming already.
If my house value declined by 50 percent, I'd still be sitting pretty. I bought my house to live in until I retire and a value drop would lower my property taxes.
Would only lower your taxes by about $50-$100 dude
It would save me a couple thousand Every year for 20+ years. Over life of mortgage, decrease taxes and insurance would equate to the 50% loss. But I don't intend on selling and property appreciates.
Yeah but owing more money than your property worth itself is already a pretty bad purchase. If you got mortgage to buy the home that’s even worse, as you’re paying pretty much tax + interest for first 10 years.
If our home dropped 25% in value, it would still be more than what we paid for it in 2023. If we had to move, we could rent it and net $3k/month.
Sometimes housing prices don't really matter.
@@eddiemalvin You expect your cash flow in your home to be $3K/month? Just from a single property? Don’t f-ing exaggerate. Even if it’s true, you won’t get that much money if at all in an environment you’re forced out of that property. Also it didn’t go up 25%. Stop the BS.
You made a comment about the builder not finishing the homes, probably running out of funds. In Cape Coral, the builders build the homes almost to completion. When the house is sold they then put in the appliances. If they do not CO the house they do not have to pay taxes on the house, they only pay the taxes on the dirt. Why would they finish the house if it is not sold?
but they still made a big investment in buying the land and then building the property. How many half built homes can builders afford?
@@toddknode752not many. Mean they’ll walk away and the bank will own it
What does CO stand for?
Certificate of Occupancy.
Or they cant find contractors to finish the building as everyone is very busy.
I know a few contractors (and I was one too 😊) it seems starting multiple jobs and then leaving them all half finished is a standard business practice. Highly praized in their circles. They litarally boast to each other how many unfinished jobs they have 😊😊😊.
As a Florida Certified Contractor, I can say that even at a 30% reduction, that home is still overpriced. You do not want to move to Florida and purchase a home. Even if you find a home for 75% off. Check the home insurance costs! Outrageous! Insurance companies love to collect, but never to pay!!!
Very interesting point about the new ability of homeowners to check Zillow and see Zestimates dropping before their very eyes--like a stock market account.
Not just the zestimates, but the listing prices dropping like a rock headed back to 2020 levels in the next 2 years
*****Development LLC owns 5 homes, purchased 2021 & 2022, started renovations, via private lending. Investors stopped lending, houses left 1/2 finished ..Now, in Foreclosure/Auction. All but one was completed. (priced to high, did not sell). Scottsdale/Paradise Valley - AZ. It's just the beginning...And this is only **one** investor. Buckle up!
you realize that means less supply coming to market. that's a bad thing. there still isnt enough new construction to match demand.
@@wwjccsd very true. Sad to think there are thousands of homes in this condition. So much greed.
@@wwjccsd It depends. A half-finished home is still worth something to a potential buyer as permits, plans, and utilities have been completed. But not a whole lot over the basic land value as a few months of exposure to the elements makes it basically worth the cinder blocks put into it. If you can finish the home yourself, then it can be a good deal. But most are too large and overblown for that to make sense. They allbuilt 3 and 4 bedroom homes (if not even larger) instead of the 2 bedroom homes that are affordable to finish for first time buyers.
The funding to build houses hasn't dried up. The person borrowing the money was probably an inexperienced hack and a high credit risk. There's lots of people who aren't.
I was looking in SWFL and there are half-built homes being sold. That is a big red flag.
These investors are the ones responsible for driving up home prices, causing families unable to afford one. Too bad if they lose money now!
Hope they lose everything. These people are evil
Florida Native here. Our real estate is regional as to what values will be. It's regional as to climate as well. South of St Petersburg or Vero will get less of a cool season than St Pete and North. The big money is Palm Beach to Miami along the coast/beachside communities. Then it looks like beachside Sarasota has gone way up. As well as Beach Side Bradenton. Beachside Pinellas County (St Pete Beach, Treasure Island, Madeira, Reddington, Indian Rocks, Clearwater are big money now too. Beach and inland towns to the Pinellas County will hold their value at a plateau at worst or continue to go up in value. The reason is they are all 15-30min towns without anymore room to build. Pinellas is a peninsula with a great infrastructure of parks, schools, pro sports, restaurants, night life, beaches, and safe to live compared to what's going on in the rest of the country. And all Pinellas County towns are 15-30 min to Tampa. Tampa is along the bay with some high dollar homes and suburbs as well. I think Tampa is a bit overpriced and too far from beaches for the money. This video on Punta Gorda... That area has never developed and was trying to grow and become something. The values on the barrier island beaches will still go up or plateau as there isn't anywhere else to build. But off the beaches in Bradenton, Sarasota, Port Charlotte area, Ft Myers, and Naples will not gain for a while and might even be where the drop will occur as they all have plenty of land to continue building inland off the barrier island beaches and the infrastructure started many decades after Tampa/Clearwater/St Pete. You'll find a similar pattern in value on the East Coast as well. Beachside towns will hold, plateau at worst, or continue to rise as there is no more land... but inland will be the risk. Now some of the large acreage for ranching, agriculture, or just country living will most likely hold or plateau at worst as those types of real estate have become harder to find and are in high demand. So if you want a good beachside deal, look to the Panhandle of Florida. But fair warning, that's where more hurricanes hit. So you must build with that in mind. They build ports in the ground floor garage to let the water flow through. Double up on all rebar and strapping, Go solid block to the roof... pour fiber mesh concrete into all walls. Build a hip roof with a 4-12 pitch and put metal roof with fasteners around the hips every 3" and double strap all rafter/trusses. Definite on impact windows. And your home would withstand 165 mph storms... I've built a few but now just building my own. There you go from a Florida native... Don't be afraid... The sky isn't falling here... it's just sunshine and rainbows. ✌😎
I live on the south side of Tampa Bay, have lived and worked in the Sarasota / Bradenton area for many decades. You sir are 100% Correct! Location, location, location.
Although I think the Cape Coral / Punta Gorda area would still be an excellent choice for people moving down to Florida from New York.
I was in the market in 06-12. I learned A LOT. It feels a lot like 06 right now.... In 06 I was one of the people in denial about the market going down. I sounded just like the people saying "up only" now. I'm approaching this market differently this time around. I'll be a buyer in the next 1-5 years and I will be getting some great deals.
Yes, 100%, I bought my house in 2013 for 1/2 price. The market is always lagging 18-36 months. This market will crash again, and it needs to. I can't wait to buy a 2nd home in Florida in 2-3 years.
Sold a house in Iowa in 2005 and moved to Vegas. Went through 2006-2008 refusing to buy a house in that crazy market because those skyrocketing values did not make any sense. Finally bought in 2009 because we thought it was over and the bottom was hit. When we lost it in 2011 (paid $340k, sold in short sale for $250k) we learned the lesson of a lifetime. I’m going to wait this one out (sold in Jacksonville in 2021 because First Key Homes bought it at a stupid price in a bidding war) and when I think we’ve hit the bottom, I’m going to wait one more year. I don’t feel sorry for all these jokers that swear it can’t happen. It couldn’t happen last time, either… until it did.
@olabeaman3383 sorry to hear that, these prices are coming down because 50% of the population can't afford $3000 house payments (insurance, taxes, interest, principal) for a home that should be $1850. The difference this time is insurance. The insurance is crazy in Florida.
In 2006 while working on Wall St. there wasn't a single person I could convince there was a bubble. Not a soul. It didn't matter how many metrics you knew that pointed to the unsustainability of it all, nobody would listen and many of them were eventually wiped out.
One of the tell-tale signs of a bubble is wide spread self-delusion.
Please explain specifically what about now "feels like 2006", whatever that means. What is going on now that was like then , exactly? And just saying "high prices" isnt an answer.
You called it buddy. Keep up the good work Nick!
*I bought in last crash and people have no clue how bad this will get, Cape Coral is mostly contractors who rely on home building Ect work when it dries up you’ll see 50% crash*
The contractors do not have that impact at all. The population here is 95% retired.
@@Peepppinpppper95% retired post pandemic 😂? Where is your data. I just left FL. Retirees are starting to leave and go to the Carolinas.
@@brodssn 95 is an exaggeration but it’s not like Cape Coral is known for its youthful residents or vibrant workforce give me a break.
@@Peepppinpppper it’s not but let’s not troll. A lot of younger and middle aged people have moved to the area. It isn’t the same retiree city/town. Have friends who are realtors from the villages all the way down to Cape Coral. Let’s not continue misinformation lol.
Carolinas are beautiful but very backwards and poor. Also mot very up on current events they live in their own world
What exactly does “Couldn’t rent it out” mean? Any home is rentable at the right price. No one wanted to pay $2745, so it sat vacant for two years while the price dropped $109,000? Because they wanted above-market rent?
Insane.
The investors couldn't drop the rents because that would cause the rents on all of their properties to drop. They would rather leave it empty or sell. The dam will eventually break on rents as well as prices
My family owe you a great deal of thanks.
We've been following your channel for about 2-3 years now and at the height of the bubble in FL, we moved our family from Tampa (after leaving there for >12 years) for rural NH. Our insurance costs and property values is one of the major factors of pushing us out (increase of >$300/month in one year). We were lucky enough to get out quick with a house flipper purchasing our home for cash (less overall $, but very quick turnaround to move).
We loved the freedom that FL provided through the Plandemic, but the cost to live along with the strangulating devaluation of the dollar was becoming too much.
Without your info, tracking, and presentations, we wouldn't have been able to connect the dots intellectually of what we knew instinctually, "if we don't get out of FL now, we won't get out for the next 5-10 years if ever".
Please continue doing your good work, you are helping many more than you know.
Godspeed.
Will this happen nationwide? I hope so! I’m in Maryland and see home prices going down, sitting longer, foreclosures, relistings because financing fell thru, and some homes taken off of the market because they raised the price in Spring and it didn’t sell! So, they just removed the listing, waiting and losing money. 😂 I LOVE IT!
Maryland's investor owned ratio is one of the more favorable for price stability, so I have heard.
Sounds like you sold all your stock ,and houses like me ,sitting on cash ,waiting for the bloodbath
I’m in Md too…it’s a blood bath waiting to happen.
@@garthhughey7063if you sold back in 2021, you would need prices to drop 30%+ just to rebuy at those prices …. Timing the market, 90% of the times ends badly
@@garthhughey7063 brother wallstreet has more cash than you. you dont think they wont buy 50% haircut homes?
This situation would make a great movie. For example "The Big Short", "Margin Call" or "Inside Job". By the way the proper quote is "Those who cannot remember the past are condemned to repeat it".
-George Santayana
PS Keep up the good work.
It's definitely alarming to hear about a default cycle, especially in the context of the housing market. Defaults can lead to foreclosures, and that has a cascading effect on the overall real estate landscape.
While it's concerning, it's important to look at the broader economic context. A default cycle doesn't necessarily mean the housing market is completely finished; it might signal challenges, but markets are dynamic, and they can recover.
But if more people are defaulting on their mortgages, doesn't that mean home values could plummet?
Yes, that's a possibility. An increase in foreclosures can lead to an oversupply of homes in the market, putting downward pressure on prices. It's the basic principle of supply and demand.
How can people address concerns about their property values?❤❤❤
Now might be an ideal moment to reevaluate your financial status. If you're worried about your home's value, consulting a real estate professional or financial advisor could be beneficial.
We are renting a home from First Key in NC. We were the first renters to move into the home after they purchased it from the original owner. We're on our 3rd year here and still paying less for the size house we're in versus buying now. If the market goes the way I hope it does, then this will be our last year here. I'm just sitting on my capital hoping/waiting for the market to drop into my buying range. Thanks for your videos and insight on the market.
You'll be renting for another 2-3 years. Too many people waiting.
@@vishnu2699 we are moving out into the country. I'm retired and moving where nobody wants to live. Our plan is to either buy land and build or buy land with a house already on it. We are only staying put in our current house until the youngest graduates high school next year.
@@johnlocklear you were paying rent for 3 years...is it worth it. Can you explain how you calculated????
~I'm favoured, $150K every week! I can now give back to the locals in my community and also support God works and the church. God bless American 🇺🇸….
I'm genuinely curious to know how you earn that much weekly
Big thanks to stephanie anne
I alwas appreciate God for her kindness upon my life
I have heard a lot of wonderful things about stephanie anne on the news but didn't believe it until now. I'm definitely trying her out
This sounds so good and I would like to be a party to this, is there any way I can speak with her??
Well done, Nick. I wish you'd come down to Brevard County, and check it out. The listing agencies are still puffing hard on the crack pipe.
I don’t like people losing money but this is much needed! Housing needs to be affordable again!
Two homes in my neighborhood were investor bought and one was rented. Both are now empty one for sale and one for rent. Been about 6 months now.
No fire sale and it is far different than 2007/2008. WHY, because condo fees have doubled and tripled, insurance costs have gone through the roof, repairs and reserves on most buildings are out of control so no real estate agents are willing to say that if you think you need $1500 a month then double the money to meet all the other expenses so you actually need $3000. I had no mortgage and I was priced out of my condo just because of the huge increase in condo fees, insurance, repairs, and taxes, huge. Just moved to Europe at 73 years old since USA is out of control.
But it is a fire sale. It doesn't matter if the reasons are different. It is indeed a fire sale. This is indisputable
Best of luck following your move.
@@TylerShortthe “but foreclosures are low” crowd all shocked
by the obvious reality that there exists more than way for supply to come to exceed demand for an extended period of time
An abandoned build site would not have 2 dumpsters or a port a potty on site. No way the ladder doesn't get stolen either....
He has never been on a real jobsite
Yeah, was thinking that, too. Those things cost money to rent.
Do you rly think that port a potty and some cheap stuff left behind matters to somebody who is looking on a bigger picture crashing down worth milions? You don't know anything about business... you deal with small stuff ast they come and go, but bigger things, you do them right now... they are looking to secure more money etc in hopes to finish or save themselves...
Lotta potties are rented not owned so no one “leaves them behind”.
Building codes require them to have a dumpster and toilet even if there is no work going on. Or they will have to pay a fine.
They probably have stopped because all contractors are too busy cant find plumbers and electric contractor.
I own a furniture store in Port Charlotte, FL. Sales have increased for the last three calendar years. This year we are seeing a decline. We will see.
Beryl the earliest Cat 4 ever. If a Cat 4 or 5 hits Florida this year the insurance industry will abandon the state. That will be game over for the Sunshine state. Any young person with advanced skills and credentials would be foolish to move here. They can do better in other states with lower risks.
No way, there's too much money to make on premiums at 10-20k/annual.
Florida is a complete dump i would never live there
@@Andrew-iq5ud What paradise do you currently live in?
When you lose this much on a house you just bought, even if it performs later on, the DCF is fucked and it destroys the ROI. Good, fuck 'em.
We used to keep our boat right down the road from those neighborhoods in Punta Gorda. That area is in the middle of nowhere with no grocery stores, no hospital, no restaurants. I don’t believe that the investors knew what they were buying.
What they don’t tell anyone in the video is it’s not one of the more desirable areas to live in the state. No offense to anyone who lives there. But it’s not for everyone.
I lowered my list price by $90k in 6 weeks to get it under contract. Thankfully closing in 2 weeks. Other homes in my price range have been sitting for 6 months or longer, some over a year.
What area of the USA?
Many people are trying to get out of condos in FL, so I'm expecting the demand for single family homes to still be there in most areas.
@@lilylife4426 Incorrect. SFH are sitting just like everything else. The markets crashing.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
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.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
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 Iynne Marie Stella who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. God's blessings on you.
*Having multiple streams of income is a game-changer for stability. Relying solely on a job may not provide enough financial security due to high rates of tax, it is important to explore additional investment opportunities to surpass one"s expectation*
To be honest, investing correctly today can save you a whole lot of stress in the near future
The first step in every successful investment is to establish your goals and risk tolerance, a task best undertaken with the assistance of financial advisor.
I remain eternally grateful to Judy Arianna for her efforts that got me to this point, finally payed off my mortage and all my debts, what more could I"ve asked for. She changed my life
I'm new at this, please how can I reach her?"
Judy Arianna. understanding of market indicators is impressive. She knows exactly when to enter and exit trades for maximum profit. her siignals are top notch
House that investors are taking a $110k loss looks like it could still drop more. Dudes bought it at the absolute peak. Look at pre pandemic values in the $200k range.
As a homeowner in Texas, the only times I want my home to have a high value is if I'm leveraging equity or selling it. When it comes time for property tax valuations I want the value to be as low as possible.
One house, mentioned in two videos. Give us more examples.
I live in Indian River County, FL - inventory up 72% and I'm seeing new developments still being built.
Did you hear about the scam The homebuilders are doing where they’re putting sold on every other house and then when people move in they say the deal fell through and it’s back on the market?
Nothing new I guess. Onward through the fog!
I've seen a lot of houses on the market which have gone pending and then appeared back on the market, I've been a little suspicious to say the least
Me too. Far too many pending especially in this market. Only a matter of time before prices really drop. I watch weekly
Closing deals is getting really hard right now. Peoples debt to income is jacked up, the insurance and tax is making it hard to close also.
In Romania the builder sells all of the apartments to another of his companies. I don't know what good is that for.
That website is crazy. $40 a month to look at some numbers? Wild
Im Here in FL Renting since 2012 and I try buy a House for me and My Family of 7 , budget in 2012 was 250k, them 2020 350k now Im forced to buy a 500k same house because this Invitation Homes, First Key, Progress got all the houses from my area.
Wait.
@@jacqueblue If he's in SoFlo and he waits he'll pay $700k. What this guy is talking about is not happening down here. You list a house and sit back and watch the bidding go wild. List down here at $400k and you'll get $500k. In a month.
Move to a different area.
No one forces you to buy anything.
I bought with FHA loan little over a year ago with 20k down, 250k home tho in southern Oregon
In my community in West Palm Beach there are 51 homes for sale. Many aren’t even getting showings. A settlement company closing agent said, “bank appraisals are coming in lower than market values” . This will be the start of a snowball effect. Thanks Nick for the great content.
Thanks for the update and keep doing what you do. My journey in the current market has taught me a lot of lessons, at the top of that list is that it never pays to live above one's means. I have managed to grow a nest egg of around $600k to a decent 7 figures in the space of a few months. Sad to say but a lot of us have poor money management skills. My 2 cents -get an advisor to keep you accountable and aid you make better decisions, Linda Wilburn has been helping me a lot, all through my journey. I find it better to pay a little bit more for peace of mind than worry about money or market trends and still get >burned.
Linda Wilburn program is widely available online.
I appreciate the professionalism and dedication of the team behind Linda’s trade signal service.
Trading with an expert is the best strategy for beginners and busy investor s who have little or no time to monitor their trades.
The key to financial stability is having the right investment suggestions for a diverse portfolio. Many investment failures and losses happen when you invest without proper guidance.
It was quite challenging to understand the different trends on my own until i found out about Wilburn. Trading made easy.
Since home prices are belly up and there is no way to lower interest due to exploding inflation. There is no way people can afford these overprice houses.
There is another way of looking at this.
The "value" has not dropped, "they overpaid".
You could be polite and say they miscalculated because rates were kept too low for too long.
The amount of dollars needed to buy a house increased, the "value" of the house never changed.
There is no way my house is worth almost $500k more than when we bought it 10 yrs ago. 😂
You’re absolutely right! They’re selling off like crazy in upstate New York. I was on Zillow last night and was looking in the area and noticed how First Key Homes was just standing out with all the inventory they’re were selling. Bullseye! ❤
My niche right now is new construction, due to the better insulation impacts from insurance skyrocketing here in Florida. I'm seeing the same thing here in central Florida/Orlando metro. Inventory is shooting up as new construction is being put up. The thing that I hear from some reps, is that they have pulled permits to go out for the next couple of years. In my last market update, I let people know that I expect inventory to continue to rise throughout the rest of this year, regardless of the selling season. New listings will of course fall but not to the level of normal season. Im guessing that we will start seeing negative YOY numbers starting next year, IF they don't fix the insurance issues here and I don't see how they're going to stop hurricanes and tornadoes from developing. DeSantis came out and said that Citizens is going to be insolvent when another major storm hits. I'm personally not buying anything until probably 2026/2028.
Great information. Sucks for investors but they’re the reason that home prices have been over valued by 40% and the average home buyer was priced out of the market. This will be a a major factor for the fed to start dropping interest rates so the mortgage industry can get back to normal and people can start to afford to buy houses again. 👏🏽👏🏽👏🏽
Great! I’ve been stacking cash, waiting for the downturn. By the way, that Punta Gorda neighborhood has crap infrastructure: no underground stormwater drains and presence of overhead electrical poles that get strapped like toothpicks when the last hurricane hit there.
Your "cash stacking" isn't even keeping up with inflation let alone rises in asset values and your little money will be no competition for people and corporations with real money.
Better just get used to forever renting.
@@JaydogRules-q6w lol exactly!! He thinks he’s going to be getting the good deals and not the corporations. Also the power lines? Are you kidding this is Florida that’s 95% of the state.
@@Peepppinpppper and user-wg3r6yg1l
Good point. It’s funny how all these small time “investors” are waiting for this up coming massive crash and are going to swoop in and get rich or buy homes at 1/2 their value. No doubt they’re going to out-smart all those evil corporations and current home owners who deserve to loss their ass. lol
Institutional investors are the prime reason.. my brother bought a new home in a new community and even before he got the keys, he was approached by Chinese and local institutional investors whether he is willing to sell the home to them for a premium price ..
Just saw a 950 square foot house sell for 350k outside Asheville, NC. Apparently my market hasn't gotten the message.
Charlotte too. I think NC is in a bit of a micro economy. It will probably take a couple of years before NC feels the effects.
16:38 - what about all of the larger businesses that fled Chicago and NYC because of the crime and poor policing? Recently Citadel was embarking on making Miami, “the Wall Street of the South”
I wouldn't be surprised if they are listing their homes at firesale prices in order for other owners to have to do the same and then sweep in and buy those homes too, at a steep discount.
Happy Days!!! Been waiting for this for 3.5 years!!! Great job Nick! Presentations keep getting better and better!
It's not that the builders are abandoning the houses, they're abandoning the buyers. I've had 2 duplexes with two separate builders that I signed 3 years ago, still not done. They take your deposit/draw payment, and then it sits. Beware new builders in FL, it's a lawsuit waiting to happen
Great research; please keep it up. The drop is about 10% from peak. Let’s wait for another 30% from today’s prices.
Texas inventory way up. They're still way overpriced though. No denying it anymore. Nobody is dumb enough to pay these prices at these rates though.
Inventory being way up from a record low level isn't that big a deal. In Houston, inventory despite the rise still isn't at the level of a traditionally balanced market.
Bring on a 9% unsold inventory. Prices fall like a rock after that is reached!
I lived in Florida, left for California. The combination of insane insurance rate increases, extremely low pay for work, house prices that doubled in the Jax-St Augustine-Daytona market, excessive heat and stronger storms. There is a lot going on in Florida and a lot of it isn't good.
California quadrupled my income and the weather is perfect. Insurance remains an issue, but social factors are about the same.
What do u do?
We’re going to be seeing a lot of this.
I take California any day .
Over florida. I just can't stand the risk with hurricane cat 4 cat 5
Plus insurance to roof .
Plus California has prop 13 to protect homeowners from unreasonable property taxes .only allowed 2% up per year if you own home .
@@SC-or2ek no doubt 💯. And a lot of California cities can support the high prices with wages.
California is now the armpit of America and everyone knows it! Stop trying to sell a turd.
Shortly after the Covid restrictions began in my state, we took the kids out of school sold our house and by 2021 we had moved into a brand new HOA community in central Florida. I was still working remotely and we were comfortable enough financially for my wife to take a break from work. Now I have had to find a new job, I am commuting over 1 hour each way 4 times a week for less money than I used to make and my wife has not been able to find a reasonable job that pays enough to justify what would likely be a similar commute. Coupled with the CRAZY HOA due hikes and insurance out of control we are literally torching the money we had pocketed after the move month by month. Long story short we have committed to taking the first job offer I get and moving as soon as we can. It’s hard to look at my wife everyday knowing I led us into this situation 😔
Nice. Been making videos about the same thing with first key here in Texas
I hope you have a day job.
@@JaydogRules-q6w I absolutely do and one I enjoy. Only do that as a hobby while I’m deciding what to do with my own home purchase and because those in the real estate industry are so dishonest or ignorant
You are the most convincing salesperson ever ngl
If the housing market collapses and all houses lose 50% of their value, that would only mean that the housing market is valued on par with the market in 2019. I doubt we will see houses fall back to 2011 levels.
It depends on incomes
@@julianvega2677they won't. The dollar is worth less.
Great info! I just checked two zip codes in AZ 85212 for sale inventory 25 in 2021 to 199 in 2024. Queen Creek 86 for sale to 341 this year. I feel even more confident in my decision to hold off buying till prices come down.
Good content.
Not just a UA-cam hustler walking the streets shouting "the sky is falling"
Agreed. There are as many worthless video commenters out there as there are worthless video creators.
Regardless of if Nick is one hundred percent correct, one hundred percent of the time, in one hundred percent of the locales, for somebody to just chime in with "he showed that data six months ago, crash hasn't happened yet in X" like that's equivalent. It's such a superficial level of understanding and questioning.
Anyway, keep up the good work Nick. I use you as a source, a pretty trusted one, because you use data and a pretty deep dive and a pretty cross-checked exam of your own biases and what could also explain trends.
Please ignore most of these anonymous, one line, nothing added but bumper sticker bullshit complaints.
IT SHOULD BE ILLEGAL FOR WALL STREET AND HEDGE FUNDS TO BUY RESIDENTIAL PROPERTIES
It wouldn't be an investment if the government didn't invite infinite people to colonize the country while enjoying the infrastructure, schools, healthcare system, job market, electrical grid, social safety net, and every other system built by the people who founded and created this country. Infinite people means high demand for housing, which means high rent and high return on invested capital.
Go Nick Go! As a Florida native I'm seeing Florida zestimates are coming down! Crazy what Florida is going thru. Keep up the great work!
L Knowles Space coast Florida
This is an Wall Street Investor Engineered Crash😮😮😮
Then you should buy a house in Naples, FL..Houses and condo's in Naples are from $800K - $28M.. insane and no price drops.
Hate it for my equity, but hope it can improve circumstances for next generation of homeowners
Made it thru GFC drop in FL...will weather this as well.
It doesn’t only help new buyers when housing costs drop.a
Consumers having more spending money after paying rent or mortgage is wonderful for local small businesses.
The long economic boom following the Great Recession was partly due to this effect
I don't think there will be a next generation of homeowners.
@@jeffreycheng5984 of course there will. There’s a good chance that this means falling home prices.
Nick great post! I agree with most of what you're saying, except it is going to be much worse than 2008. It will not take a year or 24 this to come about your idea about Mommy pop investors seeing their home prices being reduced significantly It's already making them panic. Right now, many mom and pop investors have taken their homes from B&B and are trying to rent them for absorbent prices.And they are not getting it, they're in my area.I see them panicking. And the result is them lowering Long term rent much lower then they expected. Fact! Your idea that values of their homes going down affecting them is very insightful and not something I thought of. Appreciate your effort all the work that you do for us. Great job!
What about rentals? They are very high and with for sale housing to expensive are renters going to survive? In California rents are outrageous!
Leave california lol
He is sharing his personal opinion on the matter. Others may hold different or similar views on the subject. Despite rentals remaining vacant, prices are not decreasing.
im seeing rent come down in florida, i think you have to just wait for the rest of the country to see their ignorance. The fact that every home got super expensive throughout america during covid proves how bad of a bubble it is. Airbnbs are barely cashflowing or taking a loss and not worth the hassle (most not all). small investors with under 10 buildings are paying out the rear for all ancillary costs of home ownership, and their tenants have no pay increases and layoffs happening daily. If your tenants dont pay they start to get under on their mortgages lol so fucking glad my wife and I didnt buy a house.
@@susan-w1psorry to hear that you live somewhere where rents aren’t decreasing
Staying in CA is for crazy people.
Nick always emphasizes Worst case scenarios: The vast, vast Majority of Americans Do Not live in Austin, TX or Florida. Housing prices in the Northeast & Midwest are up like 10% + with Continued Low Inventory. Housing prices in cities like Cleveland are up Over 10%. Nick seems to believe the entire US housing market revolves around Florida as opposed to it being an outlier.
No, he just exaggerates houses that are in a unique situation to promote his doomsday narrative. This allows him to keep tons of money rolling in from UA-cam.
I don't feel bad for the residential real estate investors. They aren't losing any money, considering they've been gouging renters for the last 4 years.
Nevermind the interest rates i have been buying property cash in some cases and still have dismal returns, because of labor, property tax and bonds, insurance etc. no money to be made worth the headache in California. I'm out!!
I think it's so darn funny at this point. Oh 08 will never happen again... ok bro right.. haha. History ALWAYS repeats itself. The smart money is sitting on the side just waiting it out. I know we want out of Florida but figure let's wait it out. We wanted to get a new minivan and said nope with the outrageous prices. We are just gonna wait a year or two at this point. The crash will be epic!! The investors don't want it because they are gonna lose a ton but they will quietly pull all of their money out while having you invest yours so you take the massive loss.
OOOOOO you should work on Wall Street not stinky sticky Florida
Florida and Texas are “crashing” yes, as for the rest of the country, not so much.
Except this crash is gonna be much worse
@@stephet3683Gotta start somewhere.
Short term treasuries over 5% or gamble on overpriced houses with overpriced mortgages. Hmm, so hard to decide... 😂
If you are an investor and you overpay...oh well. If you look at the normal slope of the line the house value should only be worth $275,000. When the buyer bought in 22' the house was really worth $230,000. The idiot paid $445,000. Don't buy during bubbles they always burst.
You and Bordanero....kings of "the end the world"...this time for sure! Pure entertainment. Real estate is local. Not EVERYWHERE is South Florida . I started watching this guy cuz i thought he was cute. Same with Bordanero. Eye candy. Empty calories.
Wise people have to sell before the next gigantic hurricane hits and insurance triples once again.
Fl is insane on prices and also on house insurance prices if you can get it approved now.
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