I'm sorry, but saying we are at the most affordable mortgage payments in the past 2 years isn't saying anything, as prices have been unaffordable for most potential first-time homebuyers since the end of 2020. So, I'm not sure where you think all of these potential buyers will be coming from. On your chart, you are showing mortgage payment of about $2,200/mo for the median home. It appears you are excluding taxes and insurance from this amount, which on average are about $1,500/yr for insurance and $2,971 for property tax in the US per a simple google search. Including these amounts, it totals about $31k in annual payments to own a home. Using the 30% rule for affordability, this would mean that a family would need to be making about $103k in annual income to afford this median home, while the median household income is currently only $80k per the most recent federal reserve data. So again, I would be curious who you think is going to be coming out of the woodwork to create this additional demand?

Home prices need to equal out to the property tax

We just experiences price gains for the next 10 years or more, unless they just keep printing. So yeah….

What's wrong with price decreases? Families need affordable homes

On point

Yet another disappointed comment section. Probably because Altos is increasingly obviously presenting a single biased view rather than a holistic fair view. Keep losing subs buds.

WOW you completely miss the most deaths in US history among the prime owners of real estate? Really?

Mike has so drunk the Koolaid that he can't distinguish between people migrating to the country legally and illegally. Nobody is talking about deporting people that enter the country legally, unless of course you are only hearing what you want to hear.

For two smart guys, you fail to differentiate the huge difference between legal and illegal immigrants. Legal has always been the lifeblood of this country. Deporting illegals who followed no process and having them follow the LAW isn't a bad thing. There is a legal way to come to the US and helps ensure we get the best and the brightest not just any criminal from any country (the current state of immigration).

This was great IMHO. Eric provided insight in his analysis, particularly that people and generational cohorts are individuals with different needs. As someone who is looking for a property that doesn't align with a stack-and-pack housing future, I appreciate Eric's insight.

I love it when someone claims they are politically neutral but they cite their belief based on one side of the story while not acknowledging the other side. If you think what is happening with immigration now is just a talking point about how immigration is good for the country, you are in denial or just clueless. Major problem with U.S. mentality, if there is something good, it must mean more of it is better. The concept of balance escapes people. Both Mike Simonsen, you just lost major credibility in terms of being honest, if not accurate, and this guy at John Burns is completely ignorant on the subject. It's fine if you take a side, but don't frame it as the only side.

A John Burns analyst was way off base a couple of years ago. Kinda slammed their credibly

Why don’t we get all those newly unemployed Coutrywide and Evergrande employees to come here and build a few dozen “ghost cities” in the US?

This guy is painful to be subjected to. Logan Mohtashami has a far better grasp if demographics, but then, he doesn't fit with your narrative...

What's up with the audio? It sounds like you recorded next to a beehive

Can't tell diff tones on color on charts..same color

Why doesn't this have a million views?

!!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks or Crypto will be appreciated

I'm seeing this in houses that are asking above the medfian price for the county..most listings priced below the median go pending in 2 weeks.

Good work!

The sellers are now leaving...😂

Withdrawing because they can’t fetch their inflated price. Give it time. They’ll be back.

No one is buying houses. I got a renter in mine. Was plunging a damn toilet this morning. Fixing plumbing. Life doesn't always work out the way you want it to, tough. Hope they pay my rent.

So with all these withdrawal listings we can expect spring next year inventory to be even higher. Sweet.

Going to get UGLY from here

Which of the five stages of grief are we in?

I watched this video 2x and could not find a chart to see anything about listing withdrawals, only total and new listings.

If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..

Why don’t you ever show cancelations?

This is good news and expected. The people who thought “If I can get x amount, I’ll sell it” are realizing it’s not going to happen, and those who simply aren’t willing to realize a loss are pulling out. This will make room for better pricing to creep in slowly.

Still no crash...😂

Sellers are removing their listings because buyers aren’t interested in unaffordable housing. They’ll re list their homes again soon in hopes of making it appear as a new listing.

How does this trading stuff work? I'm really interested but I just don't know how it go about it. I heard people really make it huge trading

On point as always Mike!

It depends. Both prices and rates need to come down to make sense. I'm paying a 40% "discount" to rent a home versus buying the equivalent home at current prices/rates. The owner is getting a good deal as well since they've locked in 1 year of lease payments in an area where home prices are falling (they are likely underwater if they sold now). It's a win/win and I can continue saving towards the right property at the right price.

Thanks for sharing! Took the plunge on my first home and I’m closing in early October

These median prices going up is a crock. These old numbers are being revised down to make it look like prices are still going up

Will home sellers become realistic with their prices this fall?

We will not

Not me, not without massive price cuts

definitely NOT coming back

No

!!I recently sold some of my long-term position and currently sitting on about 250k, do you think Nvidia is a good buy right now or I have I missed out on a crucial buy period, any good stock recommendation on great performing stocks will be appreciated!

No

Wow the elitism in this interview was off the charts. I love Michael’s weekly data analysis but it’s clear this conversation was between DC swamp creatures that would love to cram Americans in boxes with illegals along with a SF liberal. Import all the illegals as long as they don’t compete with them. As a developer bringing in more illegal workers only works to encourage less Americans to join the trades. Let’s stop people coming in at the bottom and only allow in Silicon Valley types.

Adding more density doesn’t solve the issue that we’re not building more land closer to cities and/or building new cities. The guest talks about how most of the world builds multifamily. The solution of cramming everyone into boxes isn’t going to help. Most cities have the ability to build a surplus of multifamily it’s just that Americans don’t want them at the same rate as the rest of the world. The US is not the rest of the world and being like them is not a good long term plan.

The longer the real estate industry pretends prices won't collapse, the more people in real estate will lose their jobs before prices collapse.

great analysis as usual! but something does not make sense, you are saying in many videos that if interest is up, inventory is up. Is this accurate? Can you explain in a future video? You do this every time...

So interest rates are too high that’s why demand is low. Now interest rates go down so demand goes down??? What?? Make that make sense to anyone

The State of California will support prices by buying distressed houses and giving them to Migrants. Free loans no earnings requirements. Whatever the state doesn't buy will be scooped up by Blackrock and foreign wealth funds.