Is the 2024 housing market beyond saving?
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- Опубліковано 8 вер 2024
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Altos Research is the premier resource for real-time real estate data. We provide weekly market statistics, analysis and reporting for 99% of the zip codes in the U.S., helping real estate professionals, investors, financial institutions, and their clients make better-informed decisions.
Featuring Mike Simonsen, President of Altos Research
A true data geek, Mike founded Altos Research in 2006 to bring data and insight on the U.S. housing market to those who need it most. Altos provides national and local real estate data to financial institutions, real estate professionals, and investors across the country, and the company is now part of HW Media, publisher of HousingWire and RealTrends. Mike uses Altos data to identify trends in the real estate market well before the headlines, and his work has been featured in the New York Times, The Atlantic, Fortune, Forbes and other publications.
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Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
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.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with “Jessica Lee Horst” for the last five years or so, and her returns have been pretty much amazing.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
Thank you! We just met the Texas Property Tax protest board a few hours ago and used the Altos Research report for our zip code. The Altos Research report made my husband appear knowledgeable, informed and we could easily spit out trends and data. The board complimented us on our preparation. We were successful.
Very cool! Thanks for sharing.
It’s not the rates preventing buyers from purchasing, it’s she prices! They’re too high!
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Natalie Strayer
I'm surprised that you just mentioned Natalie Strayer here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $2000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
Natalie Strayer has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I'm new at this, please how can I reach her?
After I raised up to 125k trading with her I bought a new House and a car here in the states also paid for my son's surgery
Glory to God shalom.
I believe all of the new construction that’s starting to wrap up is going to have an impact on current listings. In my market, I’ve observed that there are suddenly a lot of “coming soon” listings, and the majority of them are new homes (spec homes). I wouldn’t be surprised if that line continues to trend up to 750,000 listings by the end of the year.
Builders either have to keep on building forever OR they can dramatically slow down their building activities due to oversupply. But option #2 means a dramatic reduction in their profits and hundreds of thousands of laid off construction workers (and others).
@@CaptainCaveman1170 Option #2 it will be. If you compare issued permits with started homes nationwide, the gap is widening quickly. They were issued the permits, but they're not starting the projects in the last couple of months, and there's a whole lot of nearly finished homes that are about to hit the market.
@@tradewisetv2801 Nobody knows but the safest bet (in my view, anyway) is to bet with History and not against it. History says that all building booms end with a brick wall.
Real estate can be quite a rollercoaster, the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate my entire $700k liquidity value to my stock portfolio or just stay 100% cash?
in my opinion, some financial situations can be handled on your own if you research enough, while others are best navigated in consultation with a financial advisor
Right, I and a few neighbors in Bel-Air area work with an advisor who prefers we DCA across other prospective sectors instead of a lump sum purchase. Following this, my portfolio has yielded over 120% since early last year to date. IMO, nothing beats expertise.
@@VictoriaMartins-s4u I've worked in real estate for 25 years and have neglected a major stock portfolio. This served me well when I was flipping and renting houses, however I need a different plan now.. Mind if I look up the professional guiding you please?
Can't divulge much, I delegate my excesses to someone of great expertise ''Katherine Nance Dietz'' preferably you can look her up on the web, her qualifications speak for itself.
glad to have stumbled upon this, curiously copied and pasted Katherine Nance Dietz on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
Same in Canada's 2 biggest markets. Sales are at all time lows due to government policy, taxation, and an incoming tax on our primary residences. Canadians want out.
I hoping for sale prices to lower to the quality of the homes!
There is still MORE sellers YoY lol. This "low" volume of sellers continues to be emphasized by the presenter. It's still up YoY and demand is still at an all time low,. Weeks ago, inventory was up 35% YoY. That has now grown to 40% YoY. Again, significant. Completely disagree with the presenter as they continue to emphasize low seller volume as if this is the only thing to look at.
And sorry RE agents, 25 basis point reduction in rates aint' motivating no buyers. Time to lower your clients prices if you want a commission check
Inventory is up compared to 21/22/23 but still a lot less than pre-2020. IMHO price vs. quality of existing homes is not good.
It very well could, buyers will buy if they think the trend of lowering rates will continue downward.
They'll possibly see it as the rates "turning the corner" and it will give them confidence to buy now vs. waiting for lower rates and then having more competition with houses.
Does this data include new homes for sale?
southeast florida is still boned
This fall/winter season is going to be awesome. But all bulls will call it seasonality.
I can tell you’re clueless in the real estate market 😂. Housing market slows down around this time because children are in school and upcoming holiday season. It happens every year, a year before that and previous decades 😂. I’m already expecting 5% drop in prices until spring. Of course every crashbro is going to think market is crashing 😂. When spring hits they’re going to come up with another conspiracy theories 😂
What month do you think I bought my 2nd property? 😂
@@House_hacker_619 just watch those yoy gains evaporate. 🤣
@@agentcrypto7741 Good so I can buy 😂. I never sell and no reason to sell when tenants are paying my mortgage 😂
@@agentcrypto7741 not only that my property tax will be cheaper 😂
Keep in mind that inventory has been decreasing since 2016. 2019, is used as a bench mark, because its pre covid.
Furthermore, the fact that the US has a housing shortage is well supported by this and the strong run up of rent prices.
Keep in mind that investor market share has been increasing since 2008. Back then 10% US homes were investor owned, now 23%. What happens when the panic starts?
No housing shortage, just a listing shortage. There's a difference. Builders don't leave money on the table for years on end, and anyone who believes that shortage narrative probably also believes in the tooth fairy. Assuming there's a secured border next year, there are enough kitchens bedrooms and toilets for everyone. We just have a severely distorted market where widowed Boomers are living in four-bedroom ranch houses that in previous times would have been sold off for downsizing purposes.
Housing shortage is a myth. Builders don't leave money on the table for years on end. Listing shortage, that's all.
Rents are extremely strong. What "investor panic" ?
Buildrers have been very cautious since 2009 killed a lot of them. It's not "leaving money on the table".
@@mapmike52investors like mom and pops aren’t selling because they like the steady cash. I myself is making 6k in monthly rental cash flow. I don’t give a 💩 if my properties are worth a dollar or millions. ZERO chance im selling as a matter of fact I’m buying if there’s a price a correction.
ding dong the housing market is dead
Good luck, rate cuts in a month, and prices will be on the rise once again
@@ebutuoy5088 A single rate cut in late September is likely, yes. However, that's a cut to the FED funds rate, which has an indirect correlation to mortgage rates. You're going to see 2-3 rate cuts over three months, and mortgage rates will slightly fall. But then the surprise: mortgage rates will climb despite further cuts. The end goal with rates cuts is to feed the banks. That's how they're going to try to soften the banking crash, and banks are not going to pass the savings onto you.
@ebutuoy5088 0.25% rate cut is a market shattering 1% lower mortgage payment 😂 Fifty whole dollars a month!
@@HisCoconutGunseriously, it didn’t do much for new homes that are already offering 5 percent rates and waiving closing costs.
@@ebutuoy5088 The Fed only cuts rates IF they fear deflation is happening (aka a rapidly worsening economy). So good luck getting an uptick in sales and prices if we're in recession.
One of the biggest housing crashes is coming…