Prices are all time high. It is not normal a 50% price increase in a lapse of two years. Crash will come. Maybe not in 2024 because of elections, but it will come. We are in a bubble.
Houses here in 2020, selling in the 300,000’s are now priced in the 500k - 600k range. Many older homes in this range still need updating……giving you negotiating points. The older homes usually have larger lots. I am seeing price cuts and allowances on those that have been on the market for a while. (Many flippers are buying up the lower priced homes, slapping paint on the walls, raising the price by 50-60k and trying to make a fast buck). The market is still active but there’s a slowing of buying new construction. Additionally house insurance has risen dramatically because we are so close to the Gulf of Mexico. Many companies pulled out…
yes your videos are helpful informative and realistic. Where I live, homes are priced as if were summer and having to lower prices, but come April they will creep back up and by summer, higher than they were last summer.
seeing a lot of scumbag flippers who bought just in the last 3 years even last few months. They add 30 to 50% to the price then want me to pay them for it. Their problem is I can see how much they paid and when.
Then don't buy it because someone else will buy anyway lol just sold one of my flipping home with 50k above asking price 😂😂😂😂😂 investors are actually making papers while all you do is complaining 🤣😅🤣😅
@@jameslocklear5298 long way of telling us what a scvmbag you are. that 50k went to uncle scam for capital gains anyway so haha jokes on you. also you had to pay way over for an over priced crap shack to move in to another laugh on your behalf. i'm betting you are so smart you went with a new build too. 😅🤣😂😆😁
If the flippers did some remodeling and then increase price , I can let go of it. But some of them just bought it and relist 100% more right after closed. 😅😅😅
@@jameslocklear5298This dishonest form of income will soon go the way of the dodo. That last hit they take when the market crashes always stings too. People are starting to develop a bad taste for speculation of housing, and new technologies and deregulating zoning promises a future of small, cheap, mass-produced homes on small plots of land. Housing is a human need. It was never meant to be a cash cow. If nothing else, Christ will cometh and rearrange this shit a great deal.
The way unemployment is reported is useless. The reason that unemployment can be reported so low is many more millions of people are working in low-wage service and hospitality industries than were available in the 1980's and almost non-existent in the 30's. The proper way to report unemployment should be looking only at jobs paying $70K+ (pick a reasonable number). You will see that the unemployment for such jobs would scare the crap out of you. These are the people being laid off and having difficulty finding suitable employment.
Jerry, I very much enjoy your straight to the point videos. Really well done. I am a 3 year retired baby boomer. My wife and I returned to Arizona in August to live full time. Previously we had lived here well over 35 years. The growth here is ENORMOUS. For rent only residential properties are under construction everywhere. We bought a new construction LENNAR Home in a new sub-division. The builder provided very attractive terms paying all closing costs and buying down the interest rate to 4.99 percent fixed 30 year with a one time recast option. Lennar is aggressively building in our subdivision. Their inventory is increasing faster than they can sell even with relatively attractive terms. Our government a Is BLATANTLY LIEING about virtually everything they have anything to do with. American mainstream media is all in PROPAGANDA. Just walk through a grocery store and scrutinize prices, walk into an auto dealers show room and check the stickers, dine out anywhere, check into a brand name hotel, fill your gasoline or diesel fuel tank multiple times on a long distance trip. Our government is WILDLY spiraling out of control. You are correct, 2024 has the makings of year we will not want to ever recall. Far worse than the tragic drama of 1968. The fiddler keeps playing, ultimately he WILL be payed.
Good information. Here in NW Arkansas, it's booming. We moved here 15 years ago, to a sleepy "village", could only see ONE OTHER HOUSE from ours, and now new houses are going up everywhere, all the time. But, too, APARTMENTS are popping up like herpes sores (not so much in our "village", but all over the sprawling metro area to the south). It sucks. We're looking at going back to Texas, out in the country, away from the maddening crowds. But, your take away's are valid: 1). The government is lying their asses off. 2). Insurance is a SCAM and half. 3). The government is lying their asses off. 4). Inflation isn't measure in percentage points. It's measured in cost of goods, and we're got getting the same value for our money from JUST FOUR YEARS AGO (thank a MARXocrat and RINO). 5), The government is lying their asses off. We appreciate you, Thanks for YOUR time and effort.
What did I buy, that went up in value? Hmm. . . a gallon of paint! On a more serious note - Great informative videos and I subscribed to your channel, thanks.
I have seen inflation deflation but housing has always chugged on up. Sometimes slow or weak and other times fast and furiest, but never deflated. and at 30% or less. I want to know what is happenong?
I have an issue with inflation as a predictor of home prices. 3% inflation doesn't account for foreign investors and REITs buying up all the available home or corporate wealth transfer. It doesn't explain why apartments are twice what they were five or ten years ago or why the median home price has jumped to half a million dollars. We can't keep wages at 1970 levels and realize infinite growth in our property values and expect to keep the economy running.
I look to history to understand the present (not to predict but to understand-there’s a big difference). If you want to understand what’s happening now with inflation and the average consumer, just look at the Carter administration. It’s not just inflation. It’s systemic AND persistent inflation. What a few are just starting to realize now is that the average consumer is tapped out now and things are getting acceleratingly worse now. We’ve passed the threshold so to speak. Even though inflation is decelerating, it’s still here and will be for a while. The same effect as in the 70s with some obvious macro differences (Powell is not Volcker, Covid pandemic effect, supply chain dependency, etc). Very informative segment btw. Thanks!
Compare the present vs. Carter admin. maybe the apple vs. orange. The latter inflation case was mainly caused by Middle East oil embargo. With the Canadian oil presence and American shale oil revolution, oil embargo no longer a threat to the US economy.
Im n Florida housing is going down very little n with what de Santos did with property taxes quadrupling im waiting it out cause n 2019 i had house off river rd in ormand by the sea 8 houses off ocean for 159,000 with 2 rentals n the back for 100 a week each messed up my credit n didnt get it but God has a plan so it will b better😮
Houses are still selling here at high prices...interest rates being high doesn't seem to be a concern least where I live. I bought my home twenty one years ago for 234 thousand. Its now valved at over 521 thousand and my taxes that started back then at 4600 is now approaching 11 grand. New Hampshire isn't cheap to live...South Carolina is looking better and better
I'm convinced they just edit the years on their crash videos . Some folks literally been click baiting since 2020/21, I'm surprised people still follow on the sidelines renting indefinitely.
I looked you up and see that I can reach you easy enough as you had said you have someone in the Charleston area that can help me. I have a house in that area which has been rented all along and bought for cash 11 years ago as my retirement home. I am at the point of "wait and see" about buying another house and keeping it rented for retirement income or moving into the house I have and keeping the money from the sale of my home in NY. A lot of my choice will depend on the 2024 election and what direction the country seems to be going then. I will be contacting you before I buy if I go that route and even in this market have seen many that I would jump on and maybe should but I am waiting for that election and really don't want to keep it empty for a few months either.
I think that drawing a relationship between the unemployment rate and housing is obsolete thinking and misleading. Perhaps back in the 1960’s and before there was a strong correlation, but not now. The unemployment gap could be completely filled tomorrow by McDonalds jobs, and it obviously would not make a dent in the housing market. And the sad fact is there are not enough sufficiently high paying jobs even available anymore in this country to make current home prices affordable! Not to mention the lack of people QUALIFIED for those missing jobs.
How can the unemployment rate be that low when millions of immigrants just entered the country. We don't count them? They all got jobs? Is child trafficking and fentynal dealing a job?
Foreclosures at record or near record highs around the corner. Countless dream chasers are buying homes THEY CANNOT AFFORD!!! Bank on it, no pun intended. Bless you all and stay ready!
@@metalrooves3651 Go to the tax code section in the Missouri statues and study the section regarding requirements of assessment of taxes. The assessors are typically skipping the requirement for a return to be filed to generate the assessment, which is fraud. Did you file a return on your house? I doubt it.
Yeah the myth of severe housing shortage is tired at this point. A shitload of building in many hot areas proliferated this past two years and much of it is beginning to come online with major price cuts to boot
Inflation isn't prices going up, it is an increase in money supply. When the issuance of currency exceeds goods and services there is no price discovery. Unemployment is not a good indicator of the economy because there are many people who are not private sector or aren't seeking employment. Having no savings is bad enough try having credit card debt with 20-30% interest. Delayed gratification and self control are great for mental health. FOMO and buyer's remorse is bad.
I share your drive to explain to millennials and younger folks about the effects of inflation. They are certainly clueless, and most likely prone to make wrong financial decisions, although not to be blamed since they have mostly lived through exceptional years in the US economic history.
Regarding your last question, I’ve seen some price reductions in the listings posted in the last part of 2023 in my zip code. Future buyers are getting excited, but stats show that median home prices appreciated 6% in 2023, above inflation (as it should be expected, historically).
LIAR. You know that the entire country is flooded with new construction--that's every where. Myrtle Beach is one of the worst areas. Northern Colorado is swamped with them--I have seen them. YOU KNOW THIS.
I can not find a place to live. I had open heart surgery and I am retired and i can't find a place to live that I can afford. What can I do now? No matter where I look I have three children and I tryed to move near any of them but I can't afford an apartment. Every thing is un aforadable.
Unfortunately we are being lied to about everything. So the numbers are inaccurate and cannot be trusted. Plus the dollar will no longer be the reserve currency of the world. So I don't care how many people have jobs if their currency is shrinking in value and becomes worthless. Not to mention each state in the Union has its own economic bubble. Now you put that together with the lying media and Wall Street.NOW combine the federal government and the bankers/Federal reserve, both kicking the can down the road to make the American taxpayer the bag holders. Now put that in perspective. We are a debt economy that can no longer exist, it's out of time. So anyone who thinks there is a future in having a mortgage contract, were the state and the bank. WHO really owns your property.. Do you actually think you're going to retire like that..And you're going to be safe.. When the system breaks both of those entities will collect on their property(or at least try if you not legally savvy). So using the old metrics of the past, based on the Federal reserve system which is not part of the federal government(and it's not a conspiracy theory look it up), "wake up"people!!! Prices will continue to go up. So get ready for the crack-up boom!!!! So the American dream based on Fiat currency is a pipe dream. So quit playing games with these corporate entities, who owned your future. So if you are retiree, "flushed" with cash that may be worthless in the very near future, you might want to think a little harder!!! So if you're basing your economic metric on the dollar you're going to be misled!!!! Great video great content!!!
It was always a dream . Now it's wakie wakie time and see the big picture . The beast system is coming full force and no one will be able to buy or sell lest they receive the mark . See the palm scanner at Whole Foods they have now , you can pay by hovering your hand over it . Remember them scanning your "temperature" a couple years ago or so for your safety . Just getting the herd ready for when the permanent scanning takes place , it's all part of the conditioning of the masses . So with all that I still am looking to buy something somewhere to live out my next phase of life but somehow I get the feeling that it along with many others will have all their stuff confiscated for some reason , hope I'm wrong .
@@stldwellerNope... it takes time in this economy, high rent prices and inflationary mess to land a job that pays enough to move out. My Millenial Son moved out beginning of last year...when he turned 30. Yep, took him years of savings $$$, finishing his degree (without incurring school debt) and seeking an employer that would pay him a high enough Salary (given his work experience and education) to be able to move out. He nearly fainted when he finally received an employment letter with an amazing offer. 😂
Here in Colorado it’s a mixed bag. Most areas are nominal, either up or down 1.4%. I’m priced out and without a significant correction, which is highly unlikely in this hot real estate market, I’ll be leaving in 24. A fixed income does not cut it in most places and that ‘dream’ of home ownership is long-gone for me as I move into my ‘golden’ years.
There are new apartment building going up everywhere, rents are dropping, and so are housing prices in Salt Lake City. Prices ares still so,out of line that no one can buy still and home inventory is increasing and homes are sitting on the market and not selling. It is going to get worse too because the P/E ratio is so out of wack.
I live in utah and I see prices drop and homes sitting on the market longer then it did. The inflation won't stop. My company won't pay me more money. Gas went down 10 cents but it's not affordable. Pretty soon the bubble will burst.
40% crash coming easily, as soon as investors pull back from a slowing economy millions will be laid off and most people couldn't make it 2 months without wages
Jerry, I will send you $5. to show all what real Gov wages are. To include all of their benefits. My wife is an admin assistant in a public high school, and her real pay has increased 35% in the past 24 months. To $125,000. 2023. She is one of the lower paid employees in the high school which she works. My postal carrier on my street told me he tops out at $105,000. Plus his medical. The private>public is completely in the dark.
postal carriers avg salary is 50K. Some senior ( but not many) can make higher with alot of OT. And they contribute to medical, and the old pension plans are gone. 401K and SS now.
@@JK-ld8cd It didnt used to be like this... Think of all the Gov agencies bleeding out society. Mosquito abatement, AIQ, omg think it out, it is a collapsing pyramid. Past presidents tried to warn against public unions. /we are done.
I'm convinced they just edit the years on their crash videos . Some folks literally been click baiting since 2020/21, I'm surprised people still follow on the sidelines renting indefinitely.
Okay Jerry you want to know. I am 74 years old, and I have seen a lot not just in the real estate market. I average several different markets, aircraft, boats, certin car markets and others. But in Houston the prices of ranch land and homes are falling. $3 mill homes have droped by 4750 to 1.2 mill in just the past three months.
I was born and raised in Houston, but moved to N TX. Why do you think prices are going down? I know I wanted to get out of Houston and when I got nostalgic and returned to look around 5 years ago, home prices were out of my range in areas I previously lived in like Montgomery County. The road construction and traffic was what killed it for me though. If you were a high school kid growing up in Houston in the 70s, the new highways and boulevards were great. All those now sh*thole apartments in the SW part of town (Gessner, Fondren) were brand new and affordable.
Hey Jerry at 3:54 when you said that between 2012 and 2022 15.6 million households were FORMED while only 11.9 million NEW housing units were built, you didn't mention how many households were disbanded (deaths, etc). Do you have a number for that? We do know that around 28.5 million US Citizens died during that time. Don't a lot of retirees live in your neck of the woods? I suspect you see listings all the time where mom (or dad) died and the kids are selling the house.
@@jf8461 Thanks JF! While I admit I enjoy Jerry's vids, I get that he's in the Real Estate industry, where his loyalties are. Don't bite the hand that feeds you, right? It's important that we push back when things presented by the industry as factual are just a narrative to push product. Please don't get me started on the CA Assoc of Realtors' authoring and ultimate passage of CA Prop 19 and what it will do to long time (multiple generations) families in that state.
I work in a nursing home. The amount of elderly folks we get that are medically stable and could live alone is shocking! They cannot afford to live off their ss.
Many good points, though I think the influx into Charleston is slowing down. What do you really get? The traffic is absolutely terrible, no public transportation that is useful, it constantly floods, and people are quite rude, because they worry about affordability. Restaurants have become cost prohibitive; the food quality is not good given the prices. Sure property taxes are lower on a percentage base, but 0.51% on 700k is still higher than 1.7% on a 200k home in the North. Homeowners insurance approaches Florida levels, because people like my neighbors get their roof replaced every other year. Mine is 19 yrs old and still works as intended. The beaches are not as beautiful as they were 10 years ago. Have you been to the Beachwater County Park recently? I would put money on it being removed from the list of top 10 beaches on the planet. Those apartments absolutely destroyed the beach. Folly used to be quaint, not worth visiting anymore. Literally everybody I work with wants to leave when they retire. Today, we would not move to Charleston anymore.
just because it hasn't happened doesn't mean it can't happen. people are getting fed up with the current system and how the rich are overly taking advantage of it at the expense of the poor. A few regulatory changes could change the whole marketplace.
Hello, do you have more info on real estate market in the greater Phoenix area? We are bombarded with high HOAs , and prices way over what we estimated. Baby Boomer here. So we are renting.
Personalmente, creo que lo harán porque tienen que hacerlo. Esta tendencia actual es insostenible (simplemente porque prácticamente nadie puede comprar una casa, junto con todos los demás productos que han aumentado de precio). PERO también creo que las cosas seguirán empeorando (tal vez un año) antes de mejorar. Entonces se necesita paciencia.
@@JerryPinkas your absolutely right and I do hope nothing crazy is 💞 n the horizon in an situation. I do understand that what goes up must eventually come down though. Thank you for your videos especially the ones about buying land and a modular/manufactured home. I intend to live well below my means and start a business with the savings.
Prices are all time high. It is not normal a 50% price increase in a lapse of two years. Crash will come. Maybe not in 2024 because of elections, but it will come. We are in a bubble.
Well don’t forget 2008 was also an election year and all hell broke loose then. Albeit the biggest crashes in price occurred after in 2009-2011
It's great
Ha,ya keep saying bubble.
Possibly the most honest person on UA-cam.
Agreed
Predicting the real estate market can be a puzzle! 🏡 What are your thoughts on 2024? Share your insights!
Gov employees are not in a ressession. Everyone else is.
BINGO.
I enjoy your videos! The more financial education we have, the better we can live.
Houses here in 2020, selling in the 300,000’s are now priced in the 500k - 600k range. Many older homes in this range still need updating……giving you negotiating points. The older homes usually have larger lots. I am seeing price cuts and allowances on those that have been on the market for a while. (Many flippers are buying up the lower priced homes, slapping paint on the walls, raising the price by 50-60k and trying to make a fast buck). The market is still active but there’s a slowing of buying new construction. Additionally house insurance has risen dramatically because we are so close to the Gulf of Mexico. Many companies pulled out…
I think builders filing BK soon. I can smell it
yes your videos are helpful informative and realistic. Where I live, homes are priced as if were summer and having to lower prices, but come April they will creep back up and by summer, higher than they were last summer.
seeing a lot of scumbag flippers who bought just in the last 3 years even last few months. They add 30 to 50% to the price then want me to pay them for it. Their problem is I can see how much they paid and when.
Then don't buy it because someone else will buy anyway lol just sold one of my flipping home with 50k above asking price 😂😂😂😂😂 investors are actually making papers while all you do is complaining 🤣😅🤣😅
@@jameslocklear5298 long way of telling us what a scvmbag you are. that 50k went to uncle scam for capital gains anyway so haha jokes on you. also you had to pay way over for an over priced crap shack to move in to another laugh on your behalf. i'm betting you are so smart you went with a new build too. 😅🤣😂😆😁
If the flippers did some remodeling and then increase price , I can let go of it. But some of them just bought it and relist 100% more right after closed. 😅😅😅
@@zbxck12345 Its like they don't know we can see what they have done and think ppl want to be insulted and buy their bags.
@@jameslocklear5298This dishonest form of income will soon go the way of the dodo. That last hit they take when the market crashes always stings too. People are starting to develop a bad taste for speculation of housing, and new technologies and deregulating zoning promises a future of small, cheap, mass-produced homes on small plots of land. Housing is a human need. It was never meant to be a cash cow. If nothing else, Christ will cometh and rearrange this shit a great deal.
why not tell the people the truth the coastal areas are a loser investment you Realtors are the problem
The way unemployment is reported is useless. The reason that unemployment can be reported so low is many more millions of people are working in low-wage service and hospitality industries than were available in the 1980's and almost non-existent in the 30's. The proper way to report unemployment should be looking only at jobs paying $70K+ (pick a reasonable number). You will see that the unemployment for such jobs would scare the crap out of you. These are the people being laid off and having difficulty finding suitable employment.
Ramble much ?
They also don't include food or energy which went up 35% and 50% over the past 3 years.
Rich pay don’t get paid salaries 😂.. it’s hard to put 70k threshold
and, self employed do not go to file unemployement. They hustle to find other work.
I'm hoping that prices come down soon, so I can move out of the tent in Jerry's back yard.
Look to the Nov 2024 election . It will you what is what . Go figure . 😮
Great vid..thanks for ur insight …very hard to get an overall accurate picture of what is really going on!!
You nailed it, I’ve been watching the economy closely the last 5 years. It’s getting worse.
Jerry, I very much enjoy your straight to the point videos. Really well done. I am a 3 year retired baby boomer. My wife and I returned to Arizona in August to live full time. Previously we had lived here well over 35 years. The growth here is ENORMOUS. For rent only residential properties are under construction everywhere. We bought a new construction LENNAR Home in a new sub-division. The builder provided very attractive terms paying all closing costs and buying down the interest rate to 4.99 percent fixed 30 year with a one time recast option. Lennar is aggressively building in our subdivision. Their inventory is increasing faster than they can sell even with relatively attractive terms. Our government a
Is BLATANTLY LIEING about virtually everything they have anything to do with. American mainstream media is all in PROPAGANDA. Just walk through a grocery store and scrutinize prices, walk into an auto dealers show room and check the stickers, dine out anywhere, check into a brand name hotel, fill your gasoline or diesel fuel tank multiple times on a long distance trip. Our government is WILDLY spiraling out of control. You are correct, 2024 has the makings of year we will not want to ever recall. Far worse than the tragic drama of 1968. The fiddler keeps playing, ultimately he WILL be payed.
Good information. Here in NW Arkansas, it's booming. We moved here 15 years ago, to a sleepy "village", could only see ONE OTHER HOUSE from ours, and now new houses are going up everywhere, all the time. But, too, APARTMENTS are popping up like herpes sores (not so much in our "village", but all over the sprawling metro area to the south). It sucks. We're looking at going back to Texas, out in the country, away from the maddening crowds.
But, your take away's are valid:
1). The government is lying their asses off.
2). Insurance is a SCAM and half.
3). The government is lying their asses off.
4). Inflation isn't measure in percentage points. It's measured in cost of goods, and we're got getting the same value for our money from JUST FOUR YEARS AGO (thank a MARXocrat and RINO).
5), The government is lying their asses off.
We appreciate you, Thanks for YOUR time and effort.
What did I buy, that went up in value? Hmm. . . a gallon of paint! On a more serious note - Great informative videos and I subscribed to your channel, thanks.
Your optimism actually pretense that the opposite will occur, things will go down.
Thanks for your content
I have seen inflation deflation but housing has always chugged on up. Sometimes slow or weak and other times fast and furiest, but never deflated. and at 30% or less. I want to know what is happenong?
Vegas homes increasing at a faster rate in 2024 than 2023. Not a good look for the future
I have an issue with inflation as a predictor of home prices. 3% inflation doesn't account for foreign investors and REITs buying up all the available home or corporate wealth transfer. It doesn't explain why apartments are twice what they were five or ten years ago or why the median home price has jumped to half a million dollars.
We can't keep wages at 1970 levels and realize infinite growth in our property values and expect to keep the economy running.
Bidenomics. 80 million votes
I look to history to understand the present (not to predict but to understand-there’s a big difference). If you want to understand what’s happening now with inflation and the average consumer, just look at the Carter administration. It’s not just inflation. It’s systemic AND persistent inflation. What a few are just starting to realize now is that the average consumer is tapped out now and things are getting acceleratingly worse now. We’ve passed the threshold so to speak. Even though inflation is decelerating, it’s still here and will be for a while. The same effect as in the 70s with some obvious macro differences (Powell is not Volcker, Covid pandemic effect, supply chain dependency, etc).
Very informative segment btw. Thanks!
Compare the present vs. Carter admin. maybe the apple vs. orange. The latter inflation case was mainly caused by Middle East oil embargo. With the Canadian oil presence and American shale oil revolution, oil embargo no longer a threat to the US economy.
@@harryquinn7662 true but my point is not so much about the origin of inflation as it is about its psychology at the consumer level.
Im n Florida housing is going down very little n with what de Santos did with property taxes quadrupling im waiting it out cause n 2019 i had house off river rd in ormand by the sea 8 houses off ocean for 159,000 with 2 rentals n the back for 100 a week each messed up my credit n didnt get it but God has a plan so it will b better😮
Houses are still selling here at high prices...interest rates being high doesn't seem to be a concern least where I live. I bought my home twenty one years ago for 234 thousand. Its now valved at over 521 thousand and my taxes that started back then at 4600 is now approaching 11 grand. New Hampshire isn't cheap to live...South Carolina is looking better and better
I'm convinced they just edit the years on their crash videos . Some folks literally been click baiting since 2020/21, I'm surprised people still follow on the sidelines renting indefinitely.
I like your video. One thing puzzling me what is the reason you are more Pro South Carolina. What makes South Carolina is good ?
I looked you up and see that I can reach you easy enough as you had said you have someone in the Charleston area that can help me. I have a house in that area which has been rented all along and bought for cash 11 years ago as my retirement home. I am at the point of "wait and see" about buying another house and keeping it rented for retirement income or moving into the house I have and keeping the money from the sale of my home in NY. A lot of my choice will depend on the 2024 election and what direction the country seems to be going then. I will be contacting you before I buy if I go that route and even in this market have seen many that I would jump on and maybe should but I am waiting for that election and really don't want to keep it empty for a few months either.
Ukrain has some great home prices right now!
Love to hear the voice of experience.
I think that drawing a relationship between the unemployment rate and housing is obsolete thinking and misleading. Perhaps back in the 1960’s and before there was a strong correlation, but not now. The unemployment gap could be completely filled tomorrow by McDonalds jobs, and it obviously would not make a dent in the housing market. And the sad fact is there are not enough sufficiently high paying jobs even available anymore in this country to make current home prices affordable! Not to mention the lack of people QUALIFIED for those missing jobs.
How can I chat w you about an upcoming deal I’ll be closing in soon? I have questions and I’m glad I stumbled onto this one. 😮
How can the unemployment rate be that low when millions of immigrants just entered the country. We don't count them? They all got jobs? Is child trafficking and fentynal dealing a job?
So what will house prices do? What's your prediction for 2024? You kind of named the video that but then turned it a who knows video
Foreclosures at record or near record highs around the corner. Countless dream chasers are buying homes THEY CANNOT AFFORD!!! Bank on it, no pun intended. Bless you all and stay ready!
Most homes have locked interest rates below 3%. Foreclosures are not happening lol
Life will go on. It will be alright.
Keep voting Democrat and it will be the END.
5:48 yep
Tax breaks that home owners receive? Huh? Homeowners don't have to pay taxes unless their homes are being used in commerce.
in missouri as ahomeownwer ,l pay 5000 prop taxes!Where do you live?
@@metalrooves3651 Go to the tax code section in the Missouri statues and study the section regarding requirements of assessment of taxes. The assessors are typically skipping the requirement for a return to be filed to generate the assessment, which is fraud. Did you file a return on your house? I doubt it.
Home sales in Southern California occurs as the exodus of conservatives leaving the state continues. I will hopefully be joining them soon.
You ignore the households that ended. What is relevant is the net households created.
Yeah the myth of severe housing shortage is tired at this point. A shitload of building in many hot areas proliferated this past two years and much of it is beginning to come online with major price cuts to boot
Where is the golf courses??? 😮
Yeah but how many of those households have dies or gone back into a rental
I'm retired, get a pension, I'm hoping to find a home in the southern states under 300k
You can find homes under $300k, but they’re often not in very good neighborhoods
Inflation isn't prices going up, it is an increase in money supply. When the issuance of currency exceeds goods and services there is no price discovery. Unemployment is not a good indicator of the economy because there are many people who are not private sector or aren't seeking employment. Having no savings is bad enough try having credit card debt with 20-30% interest. Delayed gratification and self control are great for mental health. FOMO and buyer's remorse is bad.
Isn’t increasing the money supply a CAUSE of inflation?
the CAUSE without if you have deflation or price stability. @@jf8461
Holy smokes its stephen greer... are house prices affected by ufo's. Sir... sir...
TURTLE TURTLE 🐢
Tax breaks Try living in Ma.
Is pinkas the same last name that was the victim of Kramer’s golf buddy Gendisson when Kramer penalized him for cleaning the ball? ;)
I share your drive to explain to millennials and younger folks about the effects of inflation.
They are certainly clueless, and most likely prone to make wrong financial decisions, although not to be blamed since they have mostly lived through exceptional years in the US economic history.
Regarding your last question, I’ve seen some price reductions in the listings posted in the last part of 2023 in my zip code. Future buyers are getting excited, but stats show that median home prices appreciated 6% in 2023, above inflation (as it should be expected, historically).
Thanks for the support!
Forgot to say I have a pension
No, got nothing
LIAR. You know that the entire country is flooded with new construction--that's every where. Myrtle Beach is one of the worst areas. Northern Colorado is swamped with them--I have seen them. YOU KNOW THIS.
What is the free market telling us ? If can believe its a free market . Go figure . 😮😮
buy one get one for free, and the 3rd one for 50%...LOL
I can not find a place to live. I had open heart surgery and I am retired and
i can't find a place to live that I can afford. What can I do now? No matter where I look I have three children and I tryed to move near any of them but I can't afford an apartment. Every thing is un aforadable.
Move in with one of your kids
The American dream is over! Home insurance killed it and HOA's
Don't forget to include the American Governments horrible fiscal policies
Unfortunately we are being lied to about everything. So the numbers are inaccurate and cannot be trusted. Plus the dollar will no longer be the reserve currency of the world. So I don't care how many people have jobs if their currency is shrinking in value and becomes worthless. Not to mention each state in the Union has its own economic bubble. Now you put that together with the lying media and Wall Street.NOW combine the federal government and the bankers/Federal reserve, both kicking the can down the road to make the American taxpayer the bag holders. Now put that in perspective. We are a debt economy that can no longer exist, it's out of time. So anyone who thinks there is a future in having a mortgage contract, were the state and the bank. WHO really owns your property.. Do you actually think you're going to retire like that..And you're going to be safe.. When the system breaks both of those entities will collect on their property(or at least try if you not legally savvy). So using the old metrics of the past, based on the Federal reserve system which is not part of the federal government(and it's not a conspiracy theory look it up), "wake up"people!!! Prices will continue to go up. So get ready for the crack-up boom!!!! So the American dream based on Fiat currency is a pipe dream. So quit playing games with these corporate entities, who owned your future. So if you are retiree, "flushed" with cash that may be worthless in the very near future, you might want to think a little harder!!! So if you're basing your economic metric on the dollar you're going to be misled!!!!
Great video great content!!!
It was all a scam by bankers. The whole credit system is ran on scams and hustles.
It was always a dream . Now it's wakie wakie time and see the big picture . The beast system is coming full force and no one will be able to buy or sell lest they receive the mark . See the palm scanner at Whole Foods they have now , you can pay by hovering your hand over it . Remember them scanning your "temperature" a couple years ago or so for your safety . Just getting the herd ready for when the permanent scanning takes place , it's all part of the conditioning of the masses . So with all that I still am looking to buy something somewhere to live out my next phase of life but somehow I get the feeling that it along with many others will have all their stuff confiscated for some reason , hope I'm wrong .
Mostly all your political leaders are criminals .
Well Done--Calm, unemotional, logical presentation of facts. Much respect, from Colorado.
Where did everyone think the COVID stimmie checks came from? Inflation = payback time.
You mean it's not greedy corporations?!
😮
My 600 bucks
oh yess 600 dollars means interest rates rise to 8% and homes nearly double in price. Sure
We got 2 checks. both were over $1000. yes, payback is a bitch.
Depends on who's asking and where the house is located
It's stunning to me how many generation Xers are still living with their parents. That says a LOT.
My problem!!!’
Gen X or millennials?
America's golden years are over.
@@stldwellerNope... it takes time in this economy, high rent prices and inflationary mess to land a job that pays enough to move out. My Millenial Son moved out beginning of last year...when he turned 30. Yep, took him years of savings $$$, finishing his degree (without incurring school debt) and seeking an employer that would pay him a high enough Salary (given his work experience and education) to be able to move out. He nearly fainted when he finally received an employment letter with an amazing offer. 😂
I like the idea of families living together like other cultures. It's good to bond with your parents and siblings.
Here in Colorado it’s a mixed bag. Most areas are nominal, either up or down 1.4%. I’m priced out and without a significant correction, which is highly unlikely in this hot real estate market, I’ll be leaving in 24. A fixed income does not cut it in most places and that ‘dream’ of home ownership is long-gone for me as I move into my ‘golden’ years.
Heh give it 2 years. The inventory of especially rentals that is coming online is staggering.
Where you moving too?
@@seamonie48 I'm going to wait and see what the market brings in Spring, very likely the mid-west.
@@rodgerrugeresiliencecoach772 speaking from a guy who currently resides in Indiana, it's low cost of living goodness!
Ohio is still cheap
There are new apartment building going up everywhere, rents are dropping, and so are housing prices in Salt Lake City. Prices ares still so,out of line that no one can buy still and home inventory is increasing and homes are sitting on the market and not selling. It is going to get worse too because the P/E ratio is so out of wack.
😂
Maybe soon those people going to move back to Calif because it will be cheaper. (see Costco Hotdogs:)
I live in utah and I see prices drop and homes sitting on the market longer then it did. The inflation won't stop. My company won't pay me more money. Gas went down 10 cents but it's not affordable. Pretty soon the bubble will burst.
Always enjoy your videos Jerry. Your break it down.
40% crash coming easily, as soon as investors pull back from a slowing economy millions will be laid off and most people couldn't make it 2 months without wages
Jerry, I will send you $5. to show all what real Gov wages are. To include all of their benefits. My wife is an admin assistant in a public high school, and her real pay has increased 35% in the past 24 months. To $125,000. 2023. She is one of the lower paid employees in the high school which she works. My postal carrier on my street told me he tops out at $105,000. Plus his medical. The private>public is completely in the dark.
postal carriers avg salary is 50K. Some senior ( but not many) can make higher with alot of OT. And they contribute to medical, and the old pension plans are gone. 401K and SS now.
Tax the Rich
@@1marynewton why ? how much of their money do you deserve
@@JK-ld8cd It didnt used to be like this... Think of all the Gov agencies bleeding out society. Mosquito abatement, AIQ, omg think it out, it is a collapsing pyramid. Past presidents tried to warn against public unions. /we are done.
Thanks Jerry, great video so I live in SoCal inland empire ZIP. I see homes in my area selling for 700k and more!
Real inflation is about 25%. Who out there is not paying at least that much more for basics? The fiat money system is going away.
agreed. Some food items are well over 100%. this whole 2.9% inflation rate is pretty ridiculous idk who they think they are fooling
Yet gold/silver remain flat
I'm convinced they just edit the years on their crash videos . Some folks literally been click baiting since 2020/21, I'm surprised people still follow on the sidelines renting indefinitely.
Okay Jerry you want to know. I am 74 years old, and I have seen a lot not just in the real estate market. I average several different markets, aircraft, boats, certin car markets and others. But in Houston the prices of ranch land and homes are falling. $3 mill homes have droped by 4750 to 1.2 mill in just the past three months.
I was born and raised in Houston, but moved to N TX. Why do you think prices are going down? I know I wanted to get out of Houston and when I got nostalgic and returned to look around 5 years ago, home prices were out of my range in areas I previously lived in like Montgomery County. The road construction and traffic was what killed it for me though. If you were a high school kid growing up in Houston in the 70s, the new highways and boulevards were great. All those now sh*thole apartments in the SW part of town (Gessner, Fondren) were brand new and affordable.
Hey Jerry at 3:54 when you said that between 2012 and 2022 15.6 million households were FORMED while only 11.9 million NEW housing units were built, you didn't mention how many households were disbanded (deaths, etc). Do you have a number for that? We do know that around 28.5 million US Citizens died during that time. Don't a lot of retirees live in your neck of the woods? I suspect you see listings all the time where mom (or dad) died and the kids are selling the house.
Good catch!
@@jf8461 Thanks JF! While I admit I enjoy Jerry's vids, I get that he's in the Real Estate industry, where his loyalties are. Don't bite the hand that feeds you, right? It's important that we push back when things presented by the industry as factual are just a narrative to push product. Please don't get me started on the CA Assoc of Realtors' authoring and ultimate passage of CA Prop 19 and what it will do to long time (multiple generations) families in that state.
I hate the beach Lived in Florida for 16 yrs Now it’s a joke nobody can afford to live there unless you’re rich
I work in a nursing home. The amount of elderly folks we get that are medically stable and could live alone is shocking! They cannot afford to live off their ss.
“Social insecurity”, my husband and I don’t even figure it in when looking at retirement
They will do exactly what they did in 23.
Many good points, though I think the influx into Charleston is slowing down. What do you really get? The traffic is absolutely terrible, no public transportation that is useful, it constantly floods, and people are quite rude, because they worry about affordability. Restaurants have become cost prohibitive; the food quality is not good given the prices. Sure property taxes are lower on a percentage base, but 0.51% on 700k is still higher than 1.7% on a 200k home in the North. Homeowners insurance approaches Florida levels, because people like my neighbors get their roof replaced every other year. Mine is 19 yrs old and still works as intended. The beaches are not as beautiful as they were 10 years ago. Have you been to the Beachwater County Park recently? I would put money on it being removed from the list of top 10 beaches on the planet. Those apartments absolutely destroyed the beach. Folly used to be quaint, not worth visiting anymore. Literally everybody I work with wants to leave when they retire. Today, we would not move to Charleston anymore.
just because it hasn't happened doesn't mean it can't happen. people are getting fed up with the current system and how the rich are overly taking advantage of it at the expense of the poor. A few regulatory changes could change the whole marketplace.
Hello, do you have more info on real estate market in the greater Phoenix area? We are bombarded with high HOAs , and prices way over what we estimated. Baby Boomer here. So we are renting.
Real estate got pretty affordable after the 2008 crash....it does happen when they come down from bubbles.
2023 is NOT 2008 dude
@@jameslocklear5298it sure does rhyme.
One of the few logical analysis on YT thanks.
Predicting the real estate market in 2024! 🏡📈 What are your thoughts? Share your insights below and let's decode the housing puzzle together!
The wealthiest hedge funds like Blackrock, etc. Are buying property to keep prices stable but how long can the keep it up?
To many people and too many towns are moving to south Florida, homestead. They are taking away all of the farmlands
I have no savings and can’t afford a free lunch but can retire Housing market is high all over the country
Khuda keray DHA QUETTA ki market uppar jaye. Maine 75 lakh ki open affidavit file li thi.
Gasoline has decreased in price
Happy New Year!
Always so informative!
❤Best!
Good stuff!
Word
Gasoline. Reduced 30% right now. That’s huge
Not seeing 30% reduction in southern California. MAYBE 10%
Yo quiero comprar mi casa este año usted cree que las casas van a bajar de precio
Personalmente, creo que lo harán porque tienen que hacerlo. Esta tendencia actual es insostenible (simplemente porque prácticamente nadie puede comprar una casa, junto con todos los demás productos que han aumentado de precio). PERO también creo que las cosas seguirán empeorando (tal vez un año) antes de mejorar. Entonces se necesita paciencia.
All indivators i have seen. The yield curve and CPI indicates a severe depression, to be clear not a recession.
The market is always changing so it's hard to say for certain, but it's important to stay up-to-date on the latest news and trends.
@@JerryPinkas your absolutely right and I do hope nothing crazy is 💞 n the horizon in an situation. I do understand that what goes up must eventually come down though. Thank you for your videos especially the ones about buying land and a modular/manufactured home. I intend to live well below my means and start a business with the savings.
Ok Jerry if you own few pieces of real estate property , would you keep it or sell it ?
Good question
keep it!!!!! money in thye bank mis of less value!!i sold and am sitting on cash that s cloose to worthless
Another egg headed “expert” without a clue…..