Not just the interest rate, it's the insane over evaluation of the price of houses. Everything is unreasonably inflated. I'm not pay 200K+ for a 80k property

"it can only go up from here" - Meanwhile a dozen or so economic indicators are are warning of bad times ahead. look at the inverted yield curve this week. As you mentioned Interest rates don't really look like they are coming down, Interest rates are pretty high when compared to the last few decades. But certainly not high when looking far back. 14-18% was a real thing for my grandfather. But home prices where vastly more reasonable then. The main issue of buying right now is getting a home at a price that doesn't screw the average american. Take Real median household income for example it was $80,610 in 2023. www.census.gov/library/publications/2024/demo/p60-282.html Monthly Gross salary: $6,718 monthly gross Using the 36% gross debt ratio - we are looking at say $2400 total they can have in loans. We assume 1- $300 car note and 1 - $300 student loan payment then they have about $1800 total left over for a total house payment. To break that down some lets say: Principal and interest: ~$1,400 Taxes and insurance: ~$400 (varies based on location). How would that average family in a suburb of any major city find a mortgage for $1400? Lets take Irving,TX for example: The average home value in Irving, TX is $339362 or lets take The average home price in Fayetteville, Arkansas is around $356,925. or The median home price in Phoenix, Arizona in May 2024 was $450,000 Lets chop $30,000 off the average of the lowest of the three locations. So we are probably gunna be stuck around $300,000. Unless we are getting a home really far away, or really run down. which has its own problems. Assuming a interest rate of 6.875. they would basically need $60,000 down payment. On top of that they would need an emergency fund. That should probably be north of 30,000 but lets drop that to $15,000. So they need to save $75,000 before buying a home. Do you know many families earning $80k a year gross with $75,000 in the bank? According to bankrate: www.bankrate.com/banking/savings/savings-account-average-balance/#key-saving-statistics Median Saving account balance in USA for incomes $59,500-to $91,899 have a balance of $7,400 $153,100 to $245,399 have a balance of $33,800. Meaning to say, that the most common account balance of those earning DOUBLE to TRIPLE the common $80K income are only at $33,000 saved. In other worlds less than half the required down payment we have in our equation. Heck these people earning DOUBLE to TRIPLE the 80K commonly do not have enough saved for an emergency found of someone earning 80K. Not to mention: In 2023, only 9.5% of households in the United States earned between $150,000 and $199,999 This really long winded comment to state - the vast vast majority of people cannot fiscally purchase a home. Its the top 10% or so who are even close to being in the position to buy. If this is the bottom of the housing market, then the 90% of the richest country in the world is screwed. I say that as someone earning low six-figures by myself. If I include my soon to be fiancé I will be in that top 9%. But it still isn't pretty. We are saving to reach that 75K mark. But it will be years. I have the E-fund for my salary. But I shouldn't touch that. I have zero debt whatsoever. But for anyone under a top % income, getting the monthly note down low enough requires a massive down payment - and few few people have it. I will get the 20% for 300k in about 24 months, and my E-fund will probably end up being a part of it. But that still a high wage earner that thinks about money everyday not common on multiple fronts. I missed the boat. I had buddies earning $55,000 in 2016 buy homes for $180,000 on 3.6% interest that have $1200 principle payments that only put $5,000-10,000 down. Those same homes are worth $360,000-$400,000. There is literally zero chance they could own the house now if they had to repurchase. And they can't sell it because they will not be able to leverage the equity into a similar payment situation on the new home. Lets hope their incomes outpace that Texas property tax evaluation. At the end of the day it IS a bad time for 90% of america to buy a home. This pent up demand claim doesn't match the datasets I am looking at. Everything I see points to the fact that almost no one can afford a home and the only people buying are individuals purchasing for investment (2nd,3rd homes). Or Investment corps buying up many many properties. It is certainly not the average american buying up the market. Or lastly - they are INSANELY leveraged on the home, and will certainly be screwed if they even missed just a few paychecks (someone who has a principle note of 40-50% of monthly income, which I'm willing to bet is too common and is a cause for concern for the market as a whole).

Beautiful!!!

lower the price

And its going to get Worse, CRASH INCOMING

Brother i got my house at 2.9% in December of 2020 what the fuck are you on

Fewer offers.

I prefer Hallandale beach Florida beautiful city good beaches and restaurants and growing businesses and communities, and good night life, it’s more land for development and future growth.❤️

Non HOA all the way!!!

I love non HOA

Someone here is trying to pump the housing market. 😂

Closet thing in St. Augustine that could be considered "fine dining".

Nice video!

Wow nice that’s dumb as hell won’t ever be able to buy a house

I'd start with a detailed home inspection. The quality of new construction is very poor these days.

Where is this

I've been saying this for months and it seems like no one my age agrees with me.

But u r on the internet

People can't pay their bills and you're trying to sell me a vacation spot? Wow you're out of touch with reality.

My favorite neighborhood!

Well done and very informative! Alot has changed in a year in this market. Glad Ryan is my new Agent he has saved us thousands of dollars! If anyone is questioning their Insurance bill this year give him a call!

Lies

With privacy in the backyard, you might not need swim clothes to go swimming.

"Promo SM" ⭐

Why is the owner selling?

I'm not checking tax records. Barry probably is psycho-bragging. When he goes to prison, this will be empty. Martina and little Denise participated in this crime. They will go to prison. Justin will be an orphan, remanded to child services. No mercy. Justice.

I’m just going to like

Good insights.

yes

Lot doesn’t exist anymore

nice

We love Vilano beach

😅 𝓟Ř𝔬𝓂𝔬𝐒ϻ

Love this :-)

Why did they take the tiles off the fountain? I wish I had seen this video before or while I was there! I would have loved to go walk on the boardwalk.

Don’t hold a dog like that your just hurting them

Abs

Is this home still available?

The home is new or currently occupied?

I’m interested

Awesome. We love Peruvian food. Thanks

X-cellent Paver Sealing and Pressure Washing outta Port Orange FL to seal those pavers. Beautiful home!!

Steve Spurrier's place?

Beautiful home sir. I would definitely let the homeowners know to contact X-cellent Paver Sealing and Pressure Washing in Port Orange FL to clean, sand and seal those pool pavers. The perfect time of the year is coming up for it.

Contact X-cellent Paver Sealing and Pressure Washing outta Port Orange FL to clean, sand and seal those pavers. Would save the homeowner 10's of thousands. Such a beautiful home!!

crazy, the car salesman who tried to sell me a Corolla for $100,000 said the same thing

For $689,000 to $1,149,000 I could get a great house with private fence and pool.

Do you have senior housing in Lincolnville or the surrounding area? Looking to relocate end of 2022.

What is the property to the left looks like a house that has never been finished? Beautiful home I wonder if they would leave the bedroom furniture :)

One of the better YT property vids I have seen. Good job on a beautiful home.