California's Home Prices FALL from the Insane Peak

[@JasonWalter1]

Compilation of Housing Market Forecast videos kzbin.info/aero/PLiQQpOejscIcBF1Jw2zG6Uvg7qDav_oGi Please SUBSCRIBE HERE bit.ly/31kAR73 PLAYLIST: Videos about Living in Sacramento bit.ly/2TkXZSh Products I use and like: #ad Tubebuddy www.tubebuddy.com/jason808 Virtual Assistants (video editing): bit.ly/3lYRujQ

[@Andrewjam937]

Hey Jason, is there anyway that you could do just a little bit more coverage on the rest of the country? Nothing lengthy I don’t understand you focus in one area in Alabama we really don’t have anyone that does real estate updates

[@Andrewjam937]

I also wanted to congratulate you I really like your videos. Great details very informative. The rest of the country would be very interested in knowing what’s going on in their area we are going to their area

[@hussamallami2379]

Thank you, Jason, for this awesome video. I am also a numbers person, and I appreciate your time and efforts in making this video. Thank you a million.

[@JasonWalter1]

Thank you very much! This video takes me much longer than my other videos so thanks for checking it out.

[@mohammadrawidawoodzada2625]

Love your analysis Jason. Keep up the great work you doing!

[@JasonWalter1]

Thank you kindly

[@davidonewayticket3388]

Let this sink in..prices are up 40% at 7% rates.

[@Jay-pf2cn]

All I gotta say is that I’m glad I pulled the trigger on a house in 2018. Thanks for the update, Jason.

[@JasonWalter1]

You bet!

[@alsmart7737]

Excellent video Jason. The historical data shown in your video indicates this U.S. housing crash has just started and home prices across America will plunge by at least -50% from current levels over the next few years. Caveat Emptor!

[@Matt-hs7hk]

Amazing! Very specific info. Very helpful to understand where we were, where we are to figure out where we might go and you are great at painting that picture.

[@JasonWalter1]

Glad it was helpful!

[@Thecrossforever]

You’re the man Jason! Thank you for all you do for us! Sending appreciation from Riverside, Ca.

[@JasonWalter1]

Thank you kindly! I appreciate you.

[@CaptainCaveman1170]

Local insight about why Riverside is only down 10%: Most Southern Californians really, really don't want to live in Riverside/San Bernardino ("Inland Empire"), but because every other place is still so unaffordable (NO new listings, incredibly stubborn sellers/flippers), and because Riverside sellers seem to be the most willing to list and then budge on price, there does appear to be a bit of a "dollar store" feeding frenzy going on there right now. That being said, I think prices are actually off by like 15% not 10% and the other curious thing I see is that a good chunk of "solds" are ending up 'back on market" (due to failed financing?). So by no means is it making a permanent bottom there, imo.

[@p9r4ex8dyk]

This is so true. This guy's video does not reflect Orange County. Prices in my part of OC actually went up from 1 year ago. A few parts went down by like 2% after jumping up like 40%! No sellers are budging around this part. Homes are taking a little longer to sell but they are still selling. Demand is still insane around here. His stats are reflective of markets such as the boonies of central CA and other parts of central valley like Sacramento, which is not a desireable place to live, so of course prices are heading down in places like those.

[@Fireballsocal]

In the 3 cities I have been following: Rancho Cucamonga, Wrightwood, and zip code 92407 (North San Bernardino), inventory has been dropping stubbornly for the last 6 months. There was a slight uptick before then but I believe inventory is probably the lowest it's been in 12 years. certainly since I've started keeping a spreadsheet file on it. The exceptionally low inventory is also partly to blame for such a small drop in price.

[@CaveManOogaBooga]

@@p9r4ex8dyk what part of oc u are

[@CaveManOogaBooga]

@@Fireballsocal hello what you think value in oc Congo Fiji and Greenland?

[@CaveManOogaBooga]

No

[@alexkrin6249]

Price in my area isn’t down much at all!

[@TioMogi]

Philadelphia area video would be amazing, thanks!

[@nathanpeters9515]

I really like that you didn’t list what happened as reasons why this is the best time ever to buy, touting a rate buy down for two years to get in “before it’s too late” and saying to “buy the loan, marry the house”. Thank you for sticking to the facts.

[@JasonWalter1]

As always! Thank you for watching the video.

[@grownupgaming]

14:20 thank you Jason for the San Diego update!

[@JasonWalter1]

You bet!

[@mattanderson6672]

Thank you so much Jason! Really appreciate you!!

[@JasonWalter1]

You are so welcome! Have an awesome weekend, Matt!

[@jfro7182]

Thank you Jason for your hard work making these videos 👍

[@JasonWalter1]

So nice of you - thank you!

[@Rinas-l3h]

Thanks for this great update video ❤

[@JasonWalter1]

You are so welcome

[@Steverz32]

I am super duper late as I was driving 😮And 2nd Saturday from the great Jason Walter 😱Late but I am here for the facts from JW!!!!

[@JasonWalter1]

Happy Saturday!

[@mattanderson6672]

Thank you so much Jason Really appreciate you

[@JasonWalter1]

You are so welcome. Good morning!

[@eds8633]

Good data. Thank you

[@JasonWalter1]

You are welcome

[@adamkhan8053]

Very informative video thanks for the hard work you do really appreciate it

[@JasonWalter1]

You bet, Adam! I appreciate you.

[@christinadaly7743]

I got a can of beans i've been asking $750 for , but i'll be willing to sell for $718 today ! don't pass this up , bean prices are going to go up soon ! ( bean & pea association )

[@natetran9987]

is it a multi family can of beans? i locked in a can of corn at 3 %

[@househunter1586]

Median combined income for families in Orange County is 120,000 per year. The median cost for a home is 1.2 million. Even if a family spends 50% of there income on there home they can not afford a home in this housing climate.

[@JasonWalter1]

Big problem :/

[@charleslavoie5402]

It’s because of foreign investment. The investors need to lose big time for this market to correct it’s. Hard working families can’t compete against foreign investors with cash money. If they lose…. They won’t invest anymore. The housing market needs to crash like 2008 for it to change.

[@dumberer8]

Thanks for your videos Jason, try to watch and keep up on the daily. Any chance you could do a video on New Orleans market? The houses here are old with flood damage, yet are priced like we’re in Florida.

[@MGPCycling]

Would love to see a NYC analysis por favor 🙏🏾👍🏾😊

[@JDKoosRacing]

Important to note that more expensive homes are not transacting at the same volume as before, so that is part of the cause for the median sold price reducing. $ per sq ft isn’t down 35 percent. It is down, but not that much.

[@JasonWalter1]

Yes. I just researched this since you brought it up. Price per sq ft is only down 0.3% YOY in California for single family detached homes but it's down 1.6% MTM. Also for January, sales of $2M+ homes decreased by 46% from last January which is a slightly bigger decrease compared to lower price segments.

[@gamingbtc]

Yea, these so called real estate "professionals" can't even figure that part out. The rich aren't selling the 3 million dollar homes when they locked in 2.5% 30yr fixed mortgages a year ago. You milk that mortgage until you die and pass it on to your family. Jason Walter, real estate clown show.

[@JDKoosRacing]

@@JasonWalter1 I don’t have access to the data (maybe I could find it somewhere), but any idea what the $/sq ft is down since peak for SF and or others?

[@JasonWalter1]

I don’t sorry

[@drmahidhar1876]

@@JasonWalter1 wow this is the tidbit we have been missing or waiting for

[@christopherjacob6209]

Central coast Paso, Templeton areas are still high, but there's little new inventory and that seems to be holding prices up

[@christopherjacob6209]

@@bradleyking6390 MY comment said in central cost area. Not Sac

[@Andrewjam937]

Hey Jason, I love your program. Is there any way that you can cover a little bit more of the rest of the country? Nothing lengthy just a little bit more coverage you seem to focus a lot in California. Yes I understand. That is your area. I am all the way in Alabama and I would just love to see a little bit more coverage.

[@farshidderambakhsh1009]

Please mention number of units sold along with all statistics you need mention

[@iraqiytuber7863]

Well done Jason thank you so much

[@JasonWalter1]

Thank you!

[@Maelu-op9gf]

35%... wow!!!

[@danman1287]

Good reminder at the end of vlog... Like people

[@JasonWalter1]

Yes! I appreciate you.

[@ooptre8729]

In October of last year here in Riverside California my house was selling for $660,000. Then went down to $632,000 but now it’s up to $640,000. I guess it depends on what area you live in as to what’s going on with the housing market.

[@CaptainCaveman1170]

Your house could have easily sold for 690k in May 2022 then.

[@ooptre8729]

@@CaptainCaveman1170 no probably not, but that would’ve been nice

[@CaptainCaveman1170]

@@ooptre8729 I don't know, there was a brief, euphoric moment in April/May/June where people were paying whatever. I think the right bidding war might have done the trick lol. October was already down from that peak, but people hadn't realized it yet. Don't go off the redfin or Zillow charts for your individual house... those lie like crazy because they don't capture the euphoric spike for some reason.

[@Ytgmann331]

True, it depends on what area, last year my house value was $875K, now it’s 866K according to Zillow Redfin is higher

[@furemerestenshadow5578]

we are still looking too buy a home... here in texas... though we are Not willing to overpay... and we do inspections before a bid.... we just put a bid .. on a property reflecting the undisclosed electrical and plumbing issues.... Yet a institutional bidder stepped and paid over a 100k above asking price..... so wall street is still blindly overbidding... If I was a n investor in these firms I'd be angry... they are still placing way over inflated bids buying properties with distressed circumstances ie... those properties Will require significant expense just to recover the listed value let alone paying 100k over the asking price which was above the appraisal and tax values itself...

[@tiffanynguyen343]

Not in the OC

[@CaveManOogaBooga]

Why what going on in oc?

[@miguelparra5886]

Hi Jason. Thanks for the information. CAN you please add Santa Clarita CA.

[@JasonWalter1]

You bet! I'm not sure where to find data on that city.

[@mikehawk4856]

Love to see it

[@JasonWalter1]

Thank you for watching

[@BrogeKilrain]

Wait till Economy hits the wall 😅

[@cimmerhamilton2570]

Fantastic!!!!!!!!!!!😮😮😮❤

[@JasonWalter1]

Thanks for tuning in!

[@LObservador101]

It's sad to see people in so much trouble with real state. I bought my home in the 90s.when homes did not cost over 300k . Now I feel for people that are just now buying. There is a huge stupid bubble that it's not even funny. My kids are not able to buy any even a shack . Huge bubble created by foreigners not knowing prices over paying. In fear of fomo

[@danielalonzo7445]

I hate the boom and bust of the U.S. housing market. All of this because of investor greed

[@CaptainCaveman1170]

Greed is a result, but not the cause. It's really just the federal government spending more dollars than they take in. That means they have to borrow more money every year (via bond selling), which means the Federal Reserve has to always push interest rates down further and further each decade. Artificially compressed interest rates inflate the assets of the already-rich faster than just the rate of inflation does, and that in turn makes it easier and easier to compound wealth.

[@youngbetz1]

You missed san joaquin county stockton lodi Manteca 😒😒

[@JasonWalter1]

Sorry I didn't touch on that. San Joaquin: -15% from last year's peak -4% YOY +13% from Jan 2021 +24% from Jan 2020

[@youngbetz1]

@JasonWalter1 thanks for the response I appreciate it 😁...love the content super detailed 👌 👍 😀

[@JasonWalter1]

Thank you!

[@keremcagintv]

There is a reason why prices are nosediving in CA: The business climate is heavily regulated, elected officials are having trouble controlling the homeless crisis in large cities, taxes and cost of living are extremely high for people, and there are many other issues. Also, the Bay Area's economy is too heavily reliant on the tech sector.

[@ariatrish917]

Jason - Thank you once again for the hard work put together! Sadly, low housing inventory is still leading bidding wars in San Diego. And now it's hard to beat pre-COVID house prices.

[@CaveManOogaBooga]

Hello west you think of coastal property Tonga?

[@patrickweinert4233]

Hi Jason - I always enjoy watching your videos. Would you consider doing an analysis of the Washington D.C. real estate market?

[@JasonWalter1]

Yes I would as long as there's enough interest in the topic. Anyone else interested?

[@Fireballsocal]

Big ol thanks Jason. Any way we can buy you a coffee through paypal or?

[@JasonWalter1]

My pleasure! No need to send any money but I appreciate you. Have a great weekend!

[@charleslavoie5402]

I want to see foreign investors lose their ass.

[@charleslavoie5402]

Sorry but they’ve made it impossible for the average hard working family to buy a home.

[@cherylcampbell7495]

Maybe my families home will come back down to $26,000. El Cajon 1957. I don’t think so😂

[@user-yn9tv3pw6u]

Price collapse = Crash.. Yup, crash

[@jjblack2830]

It needs too go back to the year 2000. Home Prices was in the 2 hundred Thousands.

[@Frenchieeeee]

not low enough, call me when a NICE home in the SF bay area is 600k.

[@Tradelikeabot]

Florida is still not bugging

[@BANDIT2DAY]

Home prices in California are dropping because half a million people have fled the state. Worst governor/politicians in the country 🤣

[@shyfox89]

Prices are dropping because no one can afford them

[@yonceydelatorre3802]

For the .5M you say have left, 1.5M new have arrived, Ca. is the best state in the union, its expensive for a reason, quality of life cost more for a reason, cheaper things are cheaper for a reason… you might be able to buy a large home that’s nice outside of Cali, but with the bugs the size of an apple and somewhere in the sticks with weirdos where its either freezing, humid, sticky or hotter then Kuwait!!!! It’s simple, California will always be the leading state in the union!🤦🏻‍♂️

[@BANDIT2DAY]

@@yonceydelatorre3802 Gavin Newsom is the first governor of California that has had a net loss in population in the history of the state. Look it up.

[@ajhuttonsc]

Yes keep believing that and don’t move here

[@BANDIT2DAY]

@@ajhuttonsc only people that are suffering from poverty are moving to California so, you don’t have to worry about me🤣🤣🤣

[@ocgirlocgirl7360]

Stubborn Orange County...thanks for the detailed updates

[@JasonWalter1]

You got it!

[@92704saleen]

It’s not the sellers that are stubborn. It’s the buyers that continue to over bid.

[@CaveManOogaBooga]

Hello why you are think oc is stubborn

[@anthonymartinez4307]

Let’s be more specific 3, years ago isn’t a real prize. Why don’t you post how much these homes were 20, years ago for instance a home that originally sold for 90, thousand or 119, thousand isn’t worth 400 thousand so how are home prices dropping at 15% that doesn’t make sense. They need to be back at what people originally paid for them not this exaggeration of city overpricing to collect land tax increases.

[@jeff4invest]

100% if they overprice the land , the city collects large taxes . The land is way overpriced which is what the city controls through "assed values ". Greed starts from the top.

[@yt85616]

Why is orange county so different than the rest of them.

[@JasonWalter1]

Anyone?

[@CaptainCaveman1170]

I am a lifelong local (25 min from OC) and I can give my humble opinion. 1. The very pricey and economically resilient city of Irvine is within Orange County. Asians, but principally Chinese immigrants, seem to LOVE Irvine. I could be generalizing, but Asians seem to have less susceptibility to price increases/interest rate increases than locals do. Vietnamese people also seem to love Orange County. They REALLY make their presence felt in places like Garden Grove, Westminster, Fountain Valley. (PS as a conservative fellow myself, I love seeing Vietnamese people setting up shop here). 2. Orange county is fairly land-locked by the sea to the west and some mountains to the east, so there really isn't the ability to build too many more houses there (although near Irvine, they have slowly been turning an abandoned Air Force Base into thousands of units... VERY expensive units!). 3. The Los Angeles market is in a deep freeze right now. Almost no one is listing, so I think that could be another main reason why OC is benefitting, sonce the northern regions of OC are still a hair more affordable than LA proper. If I had to choose between an 800k house in refinery-adjacent Carson, or a 750k house in Disneyland-adjacent Buena Park, I'd pick Buena Park every time.

[@ocgirlocgirl7360]

​@@JasonWalter1 I know but I am not saying lol

[@p9r4ex8dyk]

This is so true. This guy's video does not reflect Orange County. Prices in my part of OC actually went up from 1 year ago. A few parts went down by like 2% after jumping up like 40%! No sellers are budging around this part. Homes are taking a little longer to sell but they are still selling. Demand is still insane around here. His stats are reflective of markets such as the boonies of central CA and other parts of central valley like Sacramento, which is not a desireable place to live, so of course prices are heading down in places like those.

[@abea.6759]

@@CaptainCaveman1170 OC resident here. This is VERY accurate👌🏼

[@sleepersallday6205]

Real estate is local

[@JasonWalter1]

As always

[@ozziecoronado6757]

I really really really. Hope so.

[@JasonWalter1]

Hope prices decrease more? Thanks for tuning in.

[@davidpham9353]

Glad I sold my house last April. Profiting 1.8 M tax free ( after force appreciation + regular appreciation ) in just 4 years. ( Zero down ) Now I enjoy the market dropping 10-20% in the whole US and will drop another 20-40% more so I can buy at the bottom a lot more multi family and apartment complex.

[@mrxiong2567]

Buy now... or be priced out forever

[@bubba6989]

People are already priced out of the state

[@CaveManOogaBooga]

Really you think so? Will not crash?

[@mrxiong2567]

@@CaveManOogaBooga I’m being sarcastic. I think we are undergoing a price correction as long as the FED stay on course to continue keeping rates up.

[@CaveManOogaBooga]

@@mrxiong2567 ok friend very funny 😄 when you think interest rate going down my friend

[@CaveManOogaBooga]

@@mrxiong2567 hello ganee ma me Xiong née how Mr Xiong what you think price of 5000sq house in upper Greenland

[@MrIanwad]

You guys are so wrong…. Your data is not correct. The housing market may fall but not by 35% . interest rates are stable and your guesses of doomsday forecast messes up your credibility. Yes people are apprehensive but they are going to miss the boat even more . interest rates may go up, but California is going to stay strong in value. Watch what happens this summer.

[@JasonWalter1]

I would recommend that you actually watch the video. I'm simply sharing trends based not on my data but from the CA Association of Realtors of median sold prices. I don't speculate in this video much like the vast majority of my videos.

[@Virtuenow]

Really, so there’s good news 😢😌??

[@ironwolph]

Figures I'm waiting in all cash stuck at my sister's house and inland Empire is falling the slowest inland Empire is a s*** hole it needs to go down a lot faster

[@CM-kt9hj]

There’s nice areas in the IE like Temecula or Murrieta

[@ironwolph]

@C M true but I'm saying is how much you are paying in Riverside specifically. Is a rip off for what you get, my sister lives in a nicer neighborhood and her cars get broken into all the time. There is homeless crazy people everywhere and for $600k you get a suuuppper basic 3 bed 2 bathroom house that is like 60 years old....

[@CM-kt9hj]

@@ironwolph true for some places most places in Temecula are a lot newer you can get a 3 bed 3 bath for 600k ish and theres not really much crime. And you are fairly close to the beach and San Diego

[@ironwolph]

@C M yeah its just hard when you want RV parking or even a little bit of property to build a shop.. I have $600k all cash so I'm waiting for the right moment to strike but damn living at my sisters sucks... lol

[@michaellalanae7228]

F Cali.

[@gamingbtc]

Your analysis is quite flawed and let me explain... you use median home price to state that prices came down, but this is not the case in a market that was massively manipulated by interest rates on mortgages and nothing else. The rich already locked in their 2.5% or 3.0% 30 year fixed rates on multi-million dollar mortgages...they are NEVER selling those houses or refinancing, because at 3%, with a tax deduction on the interest, it's basically a free loan of millions of dollars. Only the middle class sells during 5-6% interest rates, when we just saw 3% a year ago. Aside from this being obvious once I explain it to you, how do I know? I'm one of those who locked in ultra low rates and will NEVER sell, even if I move to another state or country. High income earners will just buy another house, and another and another. These same people tend to buy more expensive homes, and if they aren't selling them, the MEDIAN price is going to go down, but that doesn't mean that the same house in 2022 dropped massively in value from its 2021 price. How did you miss such an obvious thing? You guys are seriously real estate "professionals"?

[@JasonWalter1]

I agree that many homeowners are not likely to sell given they don't want to give up their historically low rates (like my 2.675% rate). I mention this often on the channel but... the fact remains that prices are still coming down greatly despite this as I shared in the video.

[@CaptainCaveman1170]

@@marksweeney5237 His handle is gamingbtc, so good plan not to waste a single brain cell arguing. Some people are rich because they are rich, but others are rich because they are highly leveraged. If the housing crash is going to play out fully, it'll be because of the second cohort. The first cohort will obviously be fine, locked into low rates forever, but there are never enough truly rich people to hold up an entire housing market.

[@BANDIT2DAY]

@@JasonWalter1 500K people have fled sh#t h#le California because of the politics.

[@BANDIT2DAY]

@@jeff4invest that always happens. I’m not denying that moron. The only way the housing prices are going to fall substantially is by a massive wave of foreclosures like 08 or massive inventory coming to the market some other way and it’s not happening. So, enjoy renting for that foreseeable future.

[@House_hacker_619]

I wouldn’t worry about it as long as you don’t sell. inventory still very low Only sellers that need to sell will sell. If you need to move rent it out 😂.

[@boonerbarns6718]

yay!!!!!!!!!!!!!! 3rd!

[@JasonWalter1]

Thank you for tuning in!

[@anothergoogleuser2759]

First

[@JasonWalter1]

Boom!