2024 WORST YEAR FOR HOUSING MARKET EVER?

March 2024 was the worst sales month we have had in the housing market since the beginning of the pandemic. This is good news for people who have been waiting to buy because home sales are down 4.3% year over year at the same time new listings are up 14.4% year over year. So it's a very least, you have more choices and less competition if you're looking to buy this spring.
Need a Realtor? homeandmoney.com/michael/
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

Car Payments EXPLODING And PEOPLE ARE FALLING FOR IT! kzbin.info/www/bejne/boa1YmaVa6d0ldk

[@ShinkuGouki]

This country has far greater issues than just the real estate market. And we see those symptoms show up in the real estate market. Government spending is out of control, more and more people get on government assistance, and the rich continued to get exponentially richer. The fed raising rates would easily crash the economy of the past, but this economy is proving to be more resilient than in previous iterations. Government spending and the value of the dollar are at the crux of this entire problem. I'm surprised the dollar held up as well as it did after getting off the gold standard.

[@thomasallen6980]

Micheal: Can you take us through a tour of a Miami home and show us the features and pitfalls of buying a home in a hot humid area? Does not need to be for sale or filled with furniture. No need to list the address. Nobody needs to be shamed, this is for our information. Thanks if you can do this for us or arrange to tag along on a house inspection. There are clues to certain infestations. Remember some of the people are from very cold climates and cant tell the difference between a cricket and a cockroach. Show us what to look for with electrical, water and other utilities and certain neighborhood clues that visitors might not be aware of. My friend saw atv tracks all over a backyard and backed away because of the reputation of Urban atv riders being lawless. The goal is to spot problems before expressing interest.

[@Booz2020]

Hey Man. It'd be great if you could cover Election Campaign in South Florida these days. You know the dynamic of Presidential Candidates from both Democratic and Republican Party👀

[@Richardcarlett]

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.

[@robert-1miller]

it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.

[@Walter_hill_]

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.

[@donna_martins]

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.

[@ilyaveysman.]

this is all new to me, where do I find a fiduciary, can you recommend any?

[@donna_martins]

’vivian jean wilhelm’’ 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..

[@nicolasbenson009]

Great video! For 2024, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@BridgetMiller-]

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!

[@tatianastarcic]

You are right! I’ve diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@Michaelparker12]

Do you mind sharing info on the adviser who assisted you?

[@tatianastarcic]

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 aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@berniceburgos-]

Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

[@cmasters007]

Hey Michael , just saw the house passed another 61 billion for Ukraine. On monday I am liquidating my One million in stock, IRA, Bonds etc. And I am leaving the country. This economy is going to sink deeper than the Titanic and I am not going to be here to watch. Love your channel and good luck !

[@robertcovino4889]

Good luck 🍻

[@jayjay-bz3rr]

Where are you going? If you don’t mind me asking.

[@nealkelly9757]

Which tropical country will you be retiring in?

[@D.Wagner2]

You aren’t the sharpest tool in the shed are ya? 😂😂

[@fredk9999]

We know how you feel. Sponsoring (encouraging) wars around the globe and nothing at home (open borders)

[@fredm1]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@debwes1]

Since most people are accustomed to bull markets, they often find it difficult to handle downturns. However, with the right knowledge and strategy, you can profit handsomely. Yes, depending on your plans for entry and exit.

[@josephbush]

No harm intended, but many people dismiss the importance of advsors until their feelings get in the way. I looked for one profusely a few years ago because I needed a big boost to get by. Fortunately, I found one who had fortitude. My cash reserve has increased from $450,000 to around $1.1 million as of right now. My personal best

[@MarvishaN]

@josephbush Who is your advsor please? if you don't mind me asking, I’ve been down a ton, I’m only holding on so I can recoup.

[@josephbush]

She goes by 'Amber Russell Bennett'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!

[@MarvishaN]

I appreciate this share. Just set up a call with her and I am keen on getting to talk to her particularly.

[@pickyourswitchoriginal]

When living in a van down by the river becomes the goal.

[@cynthiawylie3584]

Some people will never learn. In my area the boss babe types are still spending every penny they can get their hands on to buy luxury cars, clothes and trips and cruises to impress everyone on the internet while the family suffers and worries about the financial mess they make. A couple moved in with a elderly relative near me because they lost everything but a older car. Soon after the wife managed to lease a new luxury car and went shopping for expensive handbags while the old guy gets to pay the bills. The selfishness and greed is so common now it doesn’t shock anyone anymore. It’s no wonder people don’t care about out of control government because they are just as out of control.

[@filgaia1]

I make 300k a year and can't afford a typical home here in the NJ area. Small homes built in the 1910s that haven't been updated since the 60s are selling for $1 million around here. Taxes are $20,000 a year. I'd be looking at $6k a month at a minimum with 33% down. It's just not tenable. Even if the prices come down, property taxes keep going up. They will never drop. I don't even care about interest rates at this point -- the houses themselves are SO overvalued and the taxes make it impossible. How can I call it my "forever home" if in 30 years I'm going to have to pay $30,000 a year in tax just to not be arrested? How is retirement even possible for people?

[@nealkelly9757]

Renting is much more rational right now. Just sit it out, permanently if necessary.

[@thearch1tect249]

I can confirm this. My brother bought a house in Northern New Jersey for $900,000 on a 1/4 acre. My house that I just bought in Charlotte NC is comparable to his on 1 acre and I paid 280,000! Crazy up there.

[@mayhampol7818]

Answer a roommate ad, then send your family and stuff to rural Pennsylvania.

[@ayo9057]

🤡

[@e-rod1596]

You're making 27k a month and you cannot afford a 6k mortgage?? What do you do with money??

[@Juliet875]

I'm in Florida and inventory is exploding. Seeing price drops starting. Insurance, Taxes, HOAs, etc... a big mess here. If anyone says different they are either a realtor or an investor. Thank you Michael and Happy Saturday.

[@user-kq6sh8tg5f]

Hopefully, with the price decreases the insurance and property taxes will follow.

[@peterh2800]

US House marke way overprice. Bubba and Bubba

[@blackworldtraveler3711]

I’m in Marco Island area. Not a big mess to me. Not a realtor or investor. It’s my secondary home not an investment. Just enjoying life. Retired in my 40s. Completely debt free. No mortgage. My place was paid off cash after housing crash in 2008. Always had insurance,taxes,and HOA so nothing new. Life goes on.

[@neryvargasgarcia9767]

@@blackworldtraveler3711good for you 👏🏼

[@networth00]

@@blackworldtraveler3711 How much is your condo HOA? What's your current age?

[@82weeks94]

Buyers should have never started buying over priced dated homes. It's Greed to the highest levels. 👀. Houses doubling for no reason at all .

[@iwishpeoplecaredagain]

Amen

[@gumerzambrano]

The buyers were corporations

[@picklikeapro6952]

They printed 40% of the gdp in money in 2 years during and after the lockdowns and tried to hide it with propping up the stock market now. That and corporate greed is the cause for all the inflation. Thats why it’s about to come crashing down because them printing that much money plus all the inflation should have tanked the stock market. They spent 6 trillion propping everything up and it has to fall.

[@bi0lizard1]

Exactly. Smart money zigs when everyone else zags!

[@branmichaluk445]

​@@gumerzambranoMost are not.

[@booboolips6053]

I’m getting you a leaf blower for Christmas😄

[@joseenoel8093]

Man they're loud, I never use mine, one was a few streets over, kinda far and still noisy!

[@septembergirl007]

😂

[@KikoValleyMan]

Electric blower! 😂

[@rebeccadetert5]

😂😂😂

[@Vinny8El611]

Save some money and send him the link to 10 hours of leaf blower sounds 😂

[@Poopster4U]

It only gets worse from here. The best days are behind us.

[@Afterlife7377]

Everything turns around in 2027

[@rubicon3416]

​@@Afterlife7377- How? Enlighten us.

[@thomasallen6980]

We just got rid of a kleptocrat and are still counting the damage from all the stealing he did.

[@gradylucas5265]

@@thomasallen6980 true, blobama was a real POS

[@Afterlife7377]

@@rubicon3416 MTV starts playing music videos again

[@joe1940]

Prices are still ridiculous where I live, even dumps will cost you an arm and a leg.

[@Afterlife7377]

Move to New Hampshire

[@tonalddrump5554]

@@Afterlife7377Home of the root of the problem

[@SunofYork]

No problem for us octopuses

[@Grandcathedral]

​@@Afterlife7377I'm looking in nh home prices are good but if you are in tec or work in ma nh doesn't have much where you need. I'm not commuting 1+ he to live in a good home. That's crazy

[@gregoryabbot420]

"Nobody pays any attention to what they're doing anymore". That's pretty good.

[@Afterlife7377]

I would love to see different colored sunglasses

[@EnufAlrdy909]

70% down payment on a house less than 400k and still around a $2000 a month payment!! That's absolutely ridiculous!

[@FrankS111]

People aren’t buying houses….corporations are. Prices are only going up.

[@shanesteven4578]

Spot-on! I am one of those fortunate people who has worked hard for over thirty five years and now owns multiple properties outright. No interest payments, no overdrafts, no credit card debt life should be great! Well, as I’ve said multiple times here in your comments section, getting rid of your mortgage no longer means diddly-squat. My monthly outgoings in terms of local taxes, vehicle, building and household insurance, together with the increases in food and energy prices means that my monthly outgoings are now more than my mortgage ever was … I’m so angry 😠 at what is being done to our populations by incompetent, negligent and corrupt officials and government. When will enough-be-enough? Keep up the great work Michael you’re helping many people wise up to what’s happening.

[@dyates6380]

Exactly. I have very little debt too. I have one home I live in, and one I rent out with ZERO other debt than the one mortgage, and frankly, it means squat. Taxes, medical bills, everything ELSE going up constantly. I actually thought once I retired things would be smooth as silk. Nope.

[@thearch1tect249]

I am no expert Michael but it seems to me that buying a house is increasingly becoming a liability because there never seems to be stability in the housing market for the last 20 years!

[@johncorson6599]

I agree 100% .. I saw the insanity starting in earnest in the late 90s in Oregon .. property ‘values’ and then property taxes were rising so fast that seniors on a fixed income were being forced out of their homes .. a home I bought in 2000 for $169k and subsequently got rid of was listed for $740k a few years ago .. no one’s wages increased by that amount .. totally unsustainable .. now this farce of monetary madness must die and none too soon

[@JuicerNation]

@@johncorson6599 its just mortgage rates. $740k is cheap nowadays if the interest rate is 1-4%.

[@kgjung2310]

There are already reports of retired people with fully paid off homes facing loss of their homes because they can't pay their property taxes. In places like Austin, taxes rose so much, so fast that it outstripped these people's ability to pay when on a fixed income.

[@blackworldtraveler3711]

Source?

[@charlesp467]

Source ? You don't live in Texas

[@ralphfinklea7855]

Texas just changed the law and lowered taxes a little for 65 and older. I'm over 65 and my taxes (Austin) are ONLY $4800 a year.

[@ryannichols5352]

That's the strategy. It's obvious.

[@RBAILEY57]

Now Austin is going to be handing out $1000 monthly checks to the "Poor".

[@jacksfrost8467]

Do you remember going to Costco and it was fun to shop? Went there today, place was a zoo, shopping carts full. Everyone looks miserable….probably because the credit cards are almost maxed out. Buckle up!

[@latsnojokelee6434]

Despite people complaining about inflation, from what I’ve read, Americans really are not stopping their spending. They’re going on luxury travels and luxury trips.

[@RasiRobi]

People just spending like the government does

[@jelmer9304]

For retirement its 2 things. 1) Have no debt, no mortgage, mo car payments. 2) Downsixe and move to a place wirh a LOW COST OF LIVING! It will be a small boring small town. It wont be fancy, but you will be stress free $. Thanks Michael!

[@sonicboom2723]

Excellent advice.

[@scary_to_be_alive6483]

STAY HEALTHY!!!

[@cjhoward409]

We did that. Moved out of the Chicago suburbs where we were paying $900 a month just in property taxes. It was a $250,000 house on a 1/3rd of an acre. Now we’re in a cheaper state , small country town, have 5 acres and pay $600 a year in property taxes

[@sonicboom2723]

@@cjhoward409 , you done the right thing by moving.

[@jelmer9304]

@@cjhoward409 Congrats 👏

[@bobbybarron3132]

Don't buy cars you cant fix yourself, don't buy homes you cant fix yourself. Don't buy shiny glittering things. You will end up rich.

[@zachlafond2652]

I would live in the woods before i pay a $500-900 hoa fee.

[@marknewton6984]

HOAs are evil. 😮

[@emilo81]

The prices are insanely high, the supply is low and with 10 million "newcomers" it's only going to get worse.

[@2006JeepLimited57L]

I prepared for a time like this, stacked my chips and saved it all. Now I live off the interest banks pay me for borrowing my money! It works the other way around too. Keep these rates high, I love it! SoFi Bank, best all around bank!

[@sunrisesandsunsets7553]

me too

[@Slade.Hammer]

That's great until they bail in your funds during a crisis. Better have some on the sidelines that they can't touch.

[@networth00]

How much did you stack?

[@thomasallen6980]

I think you are broke and want people to think you saved money your whole life when you could not have possibly done so. Good luck. There are some deals in some trailer parks in Missouri. Make sure you get one with a storm cellar. You never know when Toto is going to drop out of the sky.

[@prettygirlus9008]

I'm a 60 y/o conservative investor planning to retire in two years or so. I've got 90% of my non-real estate wealth invested in laddered CDs out ten years paying 5% on average.

[@mohamedjaber4286]

Buying a house is longer a dream to me.

[@Corkfish1]

I owned a house and hated it

[@justinlowry6522]

Nightmare for most

[@RonsmooveTI]

It American struggle than American dream

[@jgringo5516]

How about just build your own house out of pocket like our parents and ancestors did? They never had a mortgage. Mortgages are a major scam. Buy an acre+, then build your own little place out of pocket over time. Everybody I knew growing up did exactly this. It’s not that difficult. KZbin will teach you now free of charge.

[@hvaball150]

Just don't come back in a decade and gripe rent is too high. This is a real estate channel.

[@user-xp4of2vu4r]

Thanks for another appealing walkabout on a beautiful day. No trash, very nice neighborhoods and limited traffic for a good portion of the video.

[@LaughitOff526]

We print more money, give it away, mind boggling. What’s really going on?

[@celestialblue7229]

Before a country can be collapsed, they need to make it go broke. They can't install a new world order without first doing that, that's why they're constantly giving it all away to a certain other country lately and keeping the border open to cause chaos.

[@Amite-zg2ob]

Last 3 years Median household income - 3% Retail Gas +39% Ground Beef, +37% Automobiles +34 % White pan bread +33% Sliced bacon +19% Milk + 18% Deodorant + 38% cooking Oil +36% Eggs + 41% Bleach + 43% RAMEN + 43% Dog Food + 36% Snack food and chips +27% Auto repair and Tires +26% Do the math what your dollar is worth today

[@alexandrawinner6081]

And then the Federal Reserve tries to tell us that inflation YOY is only 3.5% basically gaslighting us 🙄

[@rjo8500]

At Sam’s Club I can get 10 lbs of ground beef for $35. That doesn’t seem expensive to me?

[@frankcorrea8691]

Do yoy know why because some families think paying forbologna foe 5.99 a pack is outrsgeous and you have 10 times the money these poor folks have@​@@rjo8500

[@Amite-zg2ob]

@@rjo8500 At 1 trillion every 100 days added to 36 Trillion Natinal Debt. 4 years 5 months more of Joe a Easy 53.5 Trillion on our Visa Card

[@GigiEmbrechts]

It may not be ground beef. I could be a beef alternative what it is??? they are not required to say. I eat some ground beef from a grocery store and felt terrible. I am carnivore and though steak is high it is cheaper than crap like carbs and no wealth cost because I am more healthy at 70 than 50 when I ate crap carbs.

[@patrickhandley627]

It's almost like all the price gouging on top of the inflation has made it impossible for people who previously could have bought a house to do so now.

[@Tammy-yr4rv]

I live in a 55 plus rv park and pay $1840 a year space rent. Propane is $80 to $100 a winter season. Electricity around $50 a month. No water bill or trash service bill. My vehicle is a 2011... paid off. Taxes $14 a year. I enjoy my stress free life at 65.

[@user-fb5wp9pb7s]

Where? I would like to live there.

[@doloreshayden1274]

Where?

[@Tammy-yr4rv]

@@doloreshayden1274 Arizona

[@frankcorrea8691]

I am sure you planned this very well, some people don't have a clue,always beware and have a game plan! Don't rely on relatives that drag you down, it's a matter of survival!😢

[@thomasallen6980]

Who cares, Tammy?

[@CoraRose2000]

I gave up last week… decided to fix up this rental, get it deep cleaned, and jack up my veggie garden so I can put off the move and stay sane (very small house/a lot of animals) until next year. I spoke to several Realtors who told me “this is a long overdue correction” and similar. When I argued back that Ill be underwater by around $100K in 1-4 years or so… I bit my tongue and quickly ended those calls. There was no Realtor who could represent me. Your videos and the Reventure app helped me make an informed decision. Thank you for your real, fact-based information.

[@johnlibonati7807]

Over 8 months of inventory here in Rotonda West, Florida and rising. Don’t expects a deal. Most of the realtors and sellers are retirees who watch the mainstream news 24/7 and still think it’s 2021. Scratching their heads wondering why their overpriced homes aren’t selling when the news tells them everything is fabulous...

[@Garcea_linking]

I put my house up for sale in Bonita springs, fl and got a full price offer in 3 days.

[@ccserfas4629]

Why did you undervalue your price?

[@colinchampollion4420]

How much?

[@Jp-mn1rq]

Really? The second reply saying this exact quote

[@SunofYork]

I offered 25k over asking in safety harbor and they laughed at me. They had 5 better offers in the first 2 hours on the market... I would have paid another 50k but they don't come back to the buyer and give em a chance with a better offer....... That is a weird system (unrecognizable in all Europe), and sellers are missing out....

[@novadhd]

@@SunofYork you dodged a bullet . Just wait it out

[@josephtrudel1816]

Nobody in Congress is serious about inflation...Johnson just prove that

[@networth00]

Yup, $62billion right out the window for us taxpayers.

[@RonsmooveTI]

Congress need fix border issue with Canada and Mexico, fix USA infrastructure, fix immigration, fix health care, fix school system including college, fix wages, fix affordable housing we have a lot of issues in USA.

[@DavidKing-om2fn]

Find your lifeboat.

[@jgringo5516]

He’s an establishment shill.

[@nicholaslake5937]

Are they serious about making anything better for the general population? Their concern is balancing the special interests that keep them re-elected and cash flowing into their hordes.

[@johngarcia6876]

2nd most expensive purchase besides a home mortgage....not an automobile...it is upkeep of house!!

[@eddenoy321]

For sure

[@marknewton6984]

No, it's a Wife! 😅

[@robertcovino4889]

The amount of people moving to my part of the Carolinas is so crazy that I’ve decided to pause my semi retirement and work a little bit more. Lots of need for experienced electricians in the area and a lot of new home owners without basic knowledge of electrical repairs to capitalize on. Good luck everyone 🍻

[@katydid2877]

Seems like the trades can always have a job. Maybe more as kids don’t want to “get their hands dirty”. My nephew has a handyman business that boomed during covid. You just never know.

[@baabaabathsheba9107]

I live in Cornwall UK and am horrified at the cost of buying a house anywhere at the moment. I sold my house years ago and bought a steel motor boat which my partner and I have lived on for 10 + years. We have solar panels and a diesel heater so our bills are negligible. The marina where we live is very cheap to berth at and if it came to it we could always just anchor somewhere. This means we don't have to work - we do work because we enjoy working and it's good for the soul. We wake up to beautiful views and can take our boat virtually anywhere. I don't understand why more people don't do this - these days boats are super comfortable if that's a worry (it wasn't a consideration when we bought our boat and we roughed it for quite a few years). If you want a boat that's cheap and easy to maintain buy plastic - wooden looks great but is just a lot of maintenance. Thanks for the show - I'm a bit of a numpty when it comes to finances but you explain things beautifully. Solidarity from sunny Cornwall. ✌️♥️

[@well-blazeredman6187]

You're no numpty; you're 'squared-away'.

[@marknewton6984]

Sunny Florida thanks you 😎

[@franktuccillo6097]

When I bought my house in May 2021 builders had the attitude like buy it or get out of the way now they are offering all kind of incentives and nobody is buying

[@shamandalei9452]

One tried to fast talk me and say if we get 3 buyers this week prices will go up an extra $30k and continue to up. And I did not care about none of that because they were building houses without tubs to sit urs ssa cheeks in. And I didn’t know until I got there that it’s an HOA property . Houses are currently $300k and I feel for that amount of money I better have a tornado shelter, more land and at minimum a tub to sit in

[@jeffw1267]

Lots of people are buying. They come from other states or countries, have handfuls of cash, and make lowball offers to desperate sellers. This is common here in Denver, where market values are unrealistic.

[@fit4ya1975]

@@jeffw1267 Didnt your mayor just cut the Police budget to give more money and housing to Illegals?

[@TruthPapi]

Pay off those credit cards and balance that budget people! It’s gonna be a rough ride!

[@geraldkoth654]

To retire sold it all, got a good truck and a travel trailer. 14 years later and could not be happier. I can follow the sun, got an RV lot near my son for the summers. Winter in the south, travel spring and fall on my Thousand Trails membership and stay for "free" just the $560 I pay per year in dues, which works out to about $150 per month. Around $450 per month in the winter and $150 per month in the summer. My trailer is better than any apartment or condo for me.

[@johngarcia6876]

Just went to Home Depot...priced paint and tree for lanscaping...whoa... Prices 2x over last year.

[@well-blazeredman6187]

But you'll be saving on hiring an overpriced contractor.

[@86Framer]

In my Midwest city affordable houses (under 250,000) are still under offer in less than a week and half of being listed. It really does vary market to market.

[@latsnojokelee6434]

Yup. Where I am, there’s so few properties to buy under $600,000 that anything that hits the market is under contract immediately.

[@shutdownnews]

Homes around here that were going for $180,000 just last fall are now going for $250,000-300,000 and we're talking dumps.

[@JoelAntoinette]

Cheap crap houses in Miami listed for $420-450. I would not want to live in for free

[@SerenityES]

Where at? In Tacoma near Seattle area dumps that were $350k are now $400k. Unreal. They were $200k 5 years ago.

[@IrisP989]

That's a mobile home in my county in CA

[@Chiefsfan98]

Same thing in Missouri. Houses that were 75-90k pre pandemic are selling for 230-275k.

[@justinlowry6522]

Midwest?

[@capmarketer5038]

I love your channel it boils everything down to the kitchen table discussions (hopefully)

[@billping2633]

We are in a housing bubble. I thought it would pop last year but it didn't. Credit card defaults are at the same level as in 2008 and car repos are way up. Look for foreclosures to go up too. It's coming.

[@stephet3683]

Everyone thought it would crash last year. That’s why home buyers in 2020-2022 were planning on refinancing in 2023. But interest rates are still going to stay high so those people are screwed. Despite this, supply is so low that home prices are still going up. When feds lower interest rates next year, it’ll only continue to go up. I doubt it’ll crash that soon.

[@networth00]

@@stephet3683 They won't lower the rates next year. Inflation is way too high. they are just lying since it's an election year. Please stop saying what you think (and they lie about) will happen in the future.

[@user-cd1yr5sm5t]

No, we are not. It’s called inflation, and the worst part is the word hyper will be added soon.

[@networth00]

@@user-cd1yr5sm5t Inflation is up 20%. Housing is up 100%. Yes, we're in a housing bubble.

[@FrankS111]

@@networth00wrong. Not when inventory is incredibly low and demand is high as corporations continue to buy and shut out average people. “By 2030 you will own nothing and be happy”

[@branfashionistad7579]

We are currently renting in SW Florida. We have 500k sitting in mm account ready to buy a home but all that gets you here is a starter home with zero lot/yard. We are content renting for now.

[@marknewton6984]

No equity?😮

[@Crownd1_]

I'm up here in NE, specifically on Cape Cod off the coast of MA. Obviously there's a finite amount of land here so you can imagine the situation here. Supply and demand on steroids up here. I've been here 41 years. The construction and the prices here are through the roof. Not enough affordable homes for sale to keep the workforce here. The younger people want off the Cape and head towards the city (Boston and surrounding areas). The gap between the haves and the have not is getting wider here. Soon it will be completely taken over by the liberal elites. The landscapers, construction, irrigation, house cleaners are very busy. We're also experiencing a large influx of immigrants to this area. Crime is on the rise here. Born and raised in MA 64yrs ago. I don't recognize my beautiful state of MA anymore. 🙏🇺🇲✌️😎

[@JustDItY]

here, here ... :)

[@joeshmoe7899]

America traded it's country, for cheap 3rd world goods. Similar to how the amerindians sold Manhattan for some beads.

[@frankcorrea8691]

Sounds like, the great state of Tejas, original Tejanos are now being outnumbered, the changing face 😢 rven our traditional Fiestas are so expensive, 20.00 for a beer seems like it and 25.00 for a margarita!😮

[@stunningandbrave3527]

im about 100 miles north of you in ipswich, same here minus the migrants, people paying stupid money for homes that were worth 60% less 3 years ago, cant wait til they get their property tax bill LMFAO

[@milan2cu]

Vacationed in Hyannis and Yarmouth, Cape Cod back in 1980. Rented a house for 2 weeks for next to nothing 44 years ago. Very beautiful towns with great fishing.

[@fredk9999]

Thank you to our host for these walk-around outdoor educational tours. Always learn from you. Hoping SE coastal Florida slows down in tight RE market and pricing

[@TheePrettyGirlSwag]

I refi ‘d and got 2.375% in 2021. I’m pretty much stuck living where I live until it’s paid off. I’m okay with this; I’ve paid off 25% in 3 years. I can see the light at the end of the tunnel.

[@Pallasathena-hv4kp]

Kudos! That’s great!

[@TheePrettyGirlSwag]

@@Pallasathena-hv4kp thank you. Refi for 15 years. I’m tired of debt. I pay extra every month. It’s my only debt and I’m tired of it.

[@Pallasathena-hv4kp]

@@TheePrettyGirlSwag I look forward to be debt free someday too. It’s nice to see people succeeding

[@thomasallen6980]

Wow, nobody cares.

[@TheePrettyGirlSwag]

@@thomasallen6980 yes you do. You wouldn’t be commenting if you didn’t. Cheers!

[@tjlarson6519]

Glad to see you switched out the leaf blower with an electric saw. Variety is the spice of life 😁

[@SunofYork]

Tell your wife that before you take a weekend in Vegas (alone)

[@BREEZYM6015]

​@@SunofYorkI live in Vegas. Send your wife alone. 😂

[@chrisweidner4768]

☝️☝️☝️💯🤣🤣🤣🤣🤣🤣”Laughter is the best medicine.”

[@rhondae8222]

Great video. Thanks!

[@johnnymidas5879]

SATURDAY GREETINGS MICHAEL ❤

[@davidhunternyc1]

At 5:17, also, the only way we're going to see affordability of housing improve is if the government restricts the predatory practice of increasing fees and insurance. It ain't happening. Home owners insurance, property taxes, HOA fees, utilities, maintenance and repair costs all make buying a home unaffordable. Bureaucrats are on the take. Local and state governments benefit from high fees and taxes. Nothing is being done about it.

[@straightdrive6192]

No relief in California , getting worst day by day , inventory too few , prices going up because of bidding wars .

[@mr.shelly1812]

Time to look at mobile homes! Oh wait, no regular person can afford those either!😮

[@hawkaankh933]

Thanks, Mike. Love listening to you. Ignore the haters. You always make the most sense.

[@SO4JTV]

Michael- Your viewers add excellent input into your show here .. you do a great job incorporating their helpful input in your show as well 👏- would be interested to find out if they would like to see/hear more about the prices of regular type of homes vs those mega-millions of dollars homes you share about… 🤓😊

[@ColdPotato]

Sellers here in Austin still don't get it. I bet another property tax cycle will change their minds.

[@carnivalgods4573]

It's great to see inventory back to 2019 levels in many parts of Texas. You can see the double tops (graph) that have appeared in many of the bigger markets. Keep letting this thing play out. Thanks for the great content Micheal!

[@networth00]

Austin has dropped the most in the country so far. We will be down in all places soon.

[@TioMogi]

The "WOHOO!" from the bro in the side bu side driving by at 15:30 is hilarious 😂

[@wadeinn463]

We sold in Placida last Feb. nothing else in our neighborhood has sold since. Over a year. We were lucky. Back in Michigan with no hurricanes to fret about.

[@marknewton6984]

Michigan?😅

[@whydoyouneedprobateasapwhe5421]

Not here in Texas! I can’t believe the lines of people buying KB Homes that originally sold for less than $150,000 and now are costing over $700k??? Nothing makes any sense. Get real!

[@johncorson6599]

They are fleeing California, Washington state, Oregon and New York .. a few videos of city conditions in LA and San Francisco are mind boggling

[@milan2cu]

Just wait for it lol. The largest crash in history is coming to your state as well. Market corrections will exceed those of the 2008 collapse.

[@Browardcarpetcare]

Leaving south Florida

[@thomasallen6980]

It's the land they are buying. The paper board shacks are lucky to last 40 years now.

[@RasiRobi]

@@thomasallen6980😂

[@23Gino]

Great Video 👍

[@oletreed4230]

Hey guys. Nice to see you

[@TrueBeliever6491]

This is such an awesome channel. Even the comment section here is amazing!!

[@lindylou3519]

I love reading the comments.😊

[@thomasallen6980]

@@lindylou3519 You just like it when I insult you. lol. I am just joking. I like Michael's channel. He does not get in the mud with our crazy politics except when he has to.

[@RaechelMaelstrom]

Arizona property taxes and homeowners insurance cost about 5k a year for owner occupied house. Quite affordable.

[@Corkfish1]

I live in CT. Two to three times that

[@formula112967]

@@Corkfish1 That's because most people in your state vote liberal....you get who you vote for.

[@tinasmith8241]

Right, and this is why we decided to stay put here in the PHX area.

[@acamiln8354]

@@formula112967 Maybe Corkfish1 like it. :)

[@user-tk1ht6wn3j]

I live in Florida and I signed a deal on a condo last October but it didn't pass inspection. I'm watching the market but I'm no longer actively shopping. I'm gonna stay put and see how this insurance mess shakes out.

[@jimmyamico4713]

⭐️⭐️⭐️⭐️4out of 5 STARS…. Good job, MICHAEL ❤

[@franktuccillo6097]

I live in Myrtle Beach, South Carolina. I never seen so much building going on in my life. They are putting the development up like crazy at least 75 going up right now who the hell is buying these homes at 7% interest?

[@marctheshark7567]

Retirees. We don’t borrow money.

[@jeffery8512]

I’m here to. Sold my house in October n waiting to rebuy.

[@jongonegone1262]

the border jumpers, they bring big bags.

[@legacyopp9318]

I have two rentals on same street and the neighbor lost his job. Of course I immediately purchased it. Not Florida 😊

[@johnb.stewart4046]

Yes cash buyers

[@BrianK-zz4fk]

Im retired and have a mortage. I could pay it off but why? 3.25% vs a safe CD at over 5%. The only real reason would be to drop home insurance.

[@lindylou3519]

Yep, we are feeling the same way.

[@thomasallen6980]

I have an ingrown toenail. You thrilled? Probably not. Have a nice afternoon.

[@ifihadsmesumchicken6276]

@@thomasallen6980 the ingrown toenail is up yer butt! Goodday boi

[@MrScottie68]

Correct about the northeast. Here on Long Island, last month a house across the street from me which needs major updating went up for sale, immediately had an open house weekend…… 23 offers came in and 8 were above asking price.

[@martingainty9623]

I live in the very congested Northeast where 1)Its a lengthy and costly process to get a Building Permit for even the most minor of building updates 2)There isnt a square yard to be had anywhere in the city

[@Linda-mj2wv]

Yes. I am retired, and own my small condo. It is very nice and comfortable. However, the HOA have increased by 69% last year. Thank Hod I have investments to cover this huge increase. Last year, I felt wealthy. This year, I am just getting by. And I have no changes

[@networth00]

Same here. I think it's about to get much worse.

[@marknewton6984]

Join the club.

[@KennethStevenson3]

Here in san diego ca home prices are sky rocketing. Median home prices are hitting new all time highs right now. No end in sight just up from here.

[@colettespencer3357]

Yep...

[@stephet3683]

In bay area, I’m seeing 1400 sq ft homes sell for 1.9M in the last month. They were 1.7M 2 months ago.

[@KennethStevenson3]

@@stephet3683 So same there, yeah I don't see the market retracing or correcting anytime soon unfortunately. I'd really like to buy a place of my own.

[@eprofessio]

My granny had a mortgage she couldn’t afford in 2007 and my rich uncle took her down and got her refinanced at the same exact payment and no cash out. My parent ended up leaving their paid for house to take care of granny, pay her mortgage and protect her from the vultures. My rich uncle ended up by the house from the estate at a reduced rate and not reimbursing my mom and dad for the 13 years of mortgage payments. My rich uncle acts like he is an Angel and really he is a giant stool sample. My parents are living in a very nice little trailer house in a 55+ community that I paid cash for them for. I am slowly fixing up there paid for house that my brother lived in for 15 and let get almost completely run down, not even a coat of paint, not a squirt of bug juice and left a giant hole in the roof with water literally filling buckets. I fixed the roof, painted it and cleaned out the junk piled to the roof. It’s such a beautiful little house. I still love my family, they don’t talk to us because they we aren’t giving them any more money or free housing. God bless their little hearts.

[@Volksinformant]

A very interesting video. We are living in very difficult times. I call it the "age of the rip-off". Even here in Europe, housing has become unaffordable. I am German and live in Germany. Most people rent here because condominiums and owner-occupied houses have become unaffordable. In the big German cities, a small condominium already costs several hundred thousand dollars. Even in Europe, the salary of most employees is barely enough for daily survival. People only work to pay the bills. There is hardly anything left over. In Germany, 20% of the population are at risk of poverty. The German press recently reported on this.

[@paulmarshall9189]

"We'll figure the rest out later" seems to be how most people conduct their entire lives, never mind buying a house.

[@BREEZYM6015]

I just bought an overpriced car. I'll figure out how to make the payments later.

[@marknewton6984]

Better later than never.😅

[@Sammy-il1qf]

I wish this was happening in Australia! Our house prices continue to rise every month as supply just doesn't meet demand. Thanks to our government bringing in almost 1million immigrants last year! It's a scary time for tenants. Limited stock and sky high prices.

[@threeftr3349]

How are immigrants buying houses in Australia, if the market is so high? Where do the migrants live now?

[@Sammy-il1qf]

@@threeftr3349 Many immigrants/refugees are renting, which leaves limited stock for Australians to rent, & what there is to buy is sky high, so tenants are also being outpriced.. Right now I believe rental availability for the entire country sits at just under 1%. We have a tent city now in Brisbane, growing every day. We've never seen tent cities here before. We need skilled workers only, not refugees who pop out 7 babies and don't contribute to the economy.

[@threeftr3349]

@@Sammy-il1qf Wow, I am assuming the gov is paying their rent, and healthcare, schools. So sad to see the gov hurt their own citizens in this way.

[@skyloft1111]

@@threeftr3349 Welp, there's always 2 sides to every story... Immigrants are good for the economy since most are rich/skilled worker... however the problem is the construction sector which is not able to keep up with the increased demand... so housing prices are becoming way too high too fast...

[@well-blazeredman6187]

I feel for you. But you only have to endure your governments for three years, don't you? Out of control immigration has done for Ardern. It will shortly do for Trudeau, Albanese, Biden and Sunak. All of them ignored the housing crises.

[@WarrenWilliamson-rx2sc]

Mate keep up the good work - You are actually getting us in Australia ready for the fall out Craig

[@marknewton6984]

On the Beach...😮

[@1Know1tHurts]

Michael, I am not subscribed but keep watching your videos. They are like therapy to me. I don't know how you do it. I don't even live in USA but I keep on watching😀

[@joseenoel8093]

Know what the problem is? People think that 1) In the future they'll have more money 2) In the future they'll have more time to..... (Their dream here)....

[@mohhingman]

Thanks Michael

[@raymondhumphrey2749]

Yes.. Thank you Sir...

[@ronie6773]

Slow year but prices don't drop

[@jangheedavidhan6253]

The desirable areas the price might drop but will come back up... just like wages... we just need to make the best of it...i dont know anymore...

[@bryanspayde5681]

I’ve got a friend in Pensacola Florida built his dream home in 1989. For 120k beach front view.. he was forced to sell do to increased property taxes ! On a 2.2 million dollar property….

[@picklikeapro6952]

That’s super sad. Build your own house and a sudden boom doubles your property taxes 35 years later and you have to sell. Hopefully he built it for his family and his kids have moved out or something similar and needed to sell anyways .

[@bryanspayde5681]

@@picklikeapro6952 double s. Re think your math 120k. Build. Is now over 2 million…. Your math is way off …

[@picklikeapro6952]

@@bryanspayde5681 😮 🤯. I missed that. Wtf, that’s absolutely insane. But I was talking about the 2 year boom from 2022 to now that doubled the price of all houses or more.

[@spscorse]

Taxes are the reason I am rethinking Florida

[@Scorpio1060-]

That doesn’t happen in California thanks to prop13.

[@hvaper7855]

I got a townhouse in virginia beach in AUG of 2021 got a great rate and price for that year. I retired in 2023 and I can well afford my mortgage payment today, even with an increase in property taxes. I only get S.S. and a small pension and my wife still works. My wife and I read the writing on the wall and that is why we bought a place in 2021. Anyone who buys a home today at these prices and rates is totally absurd.

[@thomasallen6980]

VA Beach is a gorgeous resort, but it is not exactly tropical most of the year. I dont know if people retire that far North, never considered it. Some people dream of retiring on a beach, not a snowbank. lol.

[@bryanspayde5681]

We have a abundance of inventory but prices are going thru the roof .. so many want to escape city life ..

[@Alachua03]

Love that comment: "It doesn't apply to you until it does!" Bombs away! You hit that target spot on Michael! LOL!

[@ayo9057]

Credit card debt is also moving up significantly.

[@xovux]

I got a 2.25% loan in 2021 for my house in PR, payed 75k now worth 200k plus

[@thomasallen6980]

So?

[@chumbanga]

I’m from Pennsylvania and he’s is correct house pricing steady rises and inventory is 2.6% lower than a year ago 🤷🏽‍♂️.

[@Ninsidhe]

It’s the same thing here in Australia, we’re giving up. I’m figuring out what I’m going to do going forward but buying one of their obscenely overpriced houses isn’t one of my options.

[@eileendiaz4835]

I was lucky sold my house in 10 days and closed z6 weeks later to only slightly less than original asking because of appraisal and no pool they deducted 40,000 crazy happy to be free of insurance and taxes

[@thomasallen6980]

Go have a beer and give ten minutes notice you are coming back so I can sign off in time.

[@MAfanwoods37]

Ive seen homes in sebastian fla a beautiful rare area of fla w slash of prices 40k and hoas of 700. That 700 hoa makes it not worth it. An hoa over 500 ....it MUST offer serious services and location. 700 for Sebatian is ridiculous. You never make that money back.

[@thomasallen6980]

Those HOA's created their own problems by allowing the constant "flipping" of units. Nobody wanted to pay for the big expenses, so they never got done. Now there are laws about deferred maintenance and unhealthy HOA funds. People in bad condo's have to pay up. People in buildings that have been keeping up see no changes. Be careful who you let on your HOA.

[@KingKong-li2lg]

"Love the sound of leaf blowers in the morning 🌄! Smells like....victory!"

[@marknewton6984]

Apocalypse taxes.

[@danadian9514]

Another lovely neighborhood you're walking.

[@FrankS111]

You all voted for this. Enjoy!

[@two2tango222]

I have to agree with this statement. Bamboozled

[@uneducatedEntrepreneur]

Houses flying off the market in coral springs

[@user-oe5ey3ex8b]

Coral Springs is a tiny little community and they have almost 500 residential units for sale. That's a huge amount for the size of the community. Some have been on the market for a while and there's also a lot of price drops because they're not moving.

[@fpanadero2626]

Prove it...

[@jabreck1934]

houses flying off? Tornadoes? Hurricanes? What?

[@jabreck1934]

houses flying off? Tornadoes? Hurricanes? What?

[@chrislastnam6822]

Sale prices of houses in Los Angeles are way up especially in the middle class and upper class neighborhoods..