Century 21 CEO warns of 'problem' for upcoming generations in real estate

Century 21 CEO Mike Miedler explains how the inventory in the housing market will need to grow substantially to accommodate the growing demand from younger generations.
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[@constantin58]

Asking a real estate broker if it's a good time to buy a home is like asking an alcoholic if it's a good time to drink a beer.

[@jimmy6886]

Exactly! Like, what is he supposed to say... The housing market is in a bubble? People can't afford these homes? He won't do that, and if he did, being the CEO, the board would ask for his resignation or replace him.

[@rosemariecomtois2839]

@@jimmy6886 Real Estate brokers do not KNOW everything. ASK GOD ! I DID ! I WILL BE BUYING A HOME.

[@jimmy6886]

@@rosemariecomtois2839 You need help

[@thothheartmaat2833]

THATS FUNNY HOW EVERYONE SEEMS TO BE GOING TO THE TRUSTED AUTHORITES LATELY FOR ADVICE.. I WONDER IF A USED CAR SALESMAN THINKS I SHOULD B PAYING NEW CAR PRICES FOR USED CARS.. LETS CHECK THE WEBSITE..

[@thothheartmaat2833]

@@rosemariecomtois2839 GOD TOLD YOU TO BUY A HOME? I THINK YOU NEED A NEW GOD..

[@fifthward1983]

i knew in high school that college can be a scam depending on the degree, so by not going to college ,after high school i was actually able to join the labor force and save money for a home instead of paying off college debt and eventually buying a small home. i couldnt have done this if i went to college.

[@Travelgirl0224]

You are so smart! I used to be all about academia...couldn’t imagine anyone not getting a degree. So all the girls in my family got their bachelors, the boys went into a trade. Well the boys are making a lot more $ then us girls! The boys are In elevator repair man, plumbing, and construction. I stared dating an awesome guy. He is a plumber.... He can do side hustles and make awesome money. Meanwhile his daughter went to nursing school. She graduated, passed her boards, and is now working in a hospital. Meanwhile she is strapped down with $110,000 in school debt! 😩 You my friend got it right! 👍🏼😊

[@i.am.heather]

Wish I’d had that foresight!

[@johncasey5594]

I started programming as a hobby when I was 13. Got my first full time programming job right out of high school. Because of my hard work in my teens, I was able to go to a 5 month immersion computer science course equivalent to 2 years college, tuition and living expenses paid by the government because of my entrance exam score. Easily bought a house, in Toronto, 25% down when I was 30. When I was 20, much like Millennials today, I thought I would never own a house. I believe part of the problem is because of social media, Millennials are told they will never own a house, so they might as well give up and they do. Of course their massive education debt for a liberal arts or critical race theory degree probably doesn't help.

[@christucker1353]

I’m in college and still buying a home.

[@PaolaHuezo]

Good for you man! I graduated with my degree in finance last year and bought a house a couple months ago but I rarely know anyone my age with a degree owning a home. It’s insane because it’s cheaper to live in the Midwest & it’s even more rare to buy a home alone. People with trade skills or the older folks twice my age in my industry have homes here, that alone speaks a lot volume. I can’t imagine how harder it’ll be for people our age in the future.. we def have to fix our educational system because it seems to be hurting us more now..

[@MarkRVillano]

Affordable housing for Gen Z is currently being built in 'Frisco, LA, Portland, and Seattle. They've been putting up tents everywhere, so I really don't see a major shortage in the foreseeable future.

[@psychicwoman]

You are absolutely right💰💰💰

[@martinhanley9524]

No kidding Well the realty guy ( good for him ) is like Obama and Larry Summers and the woke millionaires . They don’t live in that world . Take of two cities . Dickensian . But the wheel goes up and down and if you don’t know how to be financially literate . You are screwed. Particularly the middle class caught in the middle .

[@donavanmiller6604]

😂 True story my friend

[@prestonwilliams5244]

Do not send me back to portland dear god!

[@terbear6519]

There will be much more competition for affordable housing. Maybe wait lists?

[@dynamicphotography_]

I've been building new homes for just over 20 years, and I'm going to tell you that the single greatest contributer to the lack of affordable homes is government overreach and government regulations. It comes in a variety of ways from local, state, and federal jurisdictions. The State of Oregon just implemented a handful of energy code requirements that squeeze about 0.25% improved energy retention, but add $15,000 to $20,000 per home extra costs to comply. Congratulations! It's piling up. The phrase "affordable homes" will never exist again, except in the history books. (Edit: Turning notifications off, because you all are crazy. And unknowledgeable. Lol)

[@shegathers6120]

Oregon *SUCKS!!* But maybe not for builders? 🤣

[@lemikehendrix357]

True statement

[@Mco11111]

Can you compare this to Fundrise investing?

[@davidlindgren9735]

Once again, the Democrats in Oregon prove their massive stupidity

[@Hot_Stank653]

Or until it violently corrects

[@gatekeeper6931]

“You’ll own nothing and be happy “ World Economic Forum…

[@smh6016]

Thats their plan!

[@WERob-to5sp]

Sounds like every socialist government.

[@samjohnson2801]

Live in a tiny home drive an electric car that can only go so far from home and work

[@wesleygordon1645]

You will own nothing! Problem is you won't be happy You will lose your true freedom!

[@apastasauce5905]

To be fair you never technically “own” your home, even if the mortgage is paid off. Stop paying property taxes and watch the government come and take it!

[@tomvennings6170]

Future generations are screwed.

[@blackmcbain3145]

Thanks boomers

[@spinninsessions9626]

Talk to a good local lender. Don't buy in into these idiots.

[@TheUser808]

Boomers are monsters. Their greed destroyed this country.

[@23bandzz12]

It’s messed up but that’s our reality. Our generation can only dream now

[@munchenonyou3774]

@@phoenix3.057 still the boomers? The average age of Congress is 60. Clown.

[@karimbennett5651]

It’s obvious that the prices will plateau at some point. The problem is that plateau may be permanently unaffordable for millions of prospective home buyers.

[@dorothyjaneparney8596]

Possibly 3 generations' worth. We are in the process of trying to make the $60,000 family car de rigeur.

[@Daenerys_Targaryen]

Good! Keep the riff raff out of my neighborhood

[@zuzanazuscinova5209]

That is the standard situation for majority of the world. Most people do not own their houses. Situation in the US is just normalizing.

[@JB-dv7ew]

@@zuzanazuscinova5209 Whats the point of even working or trying to own things then. I might as well be poor and live off the government, its a better life than being middle class

[@sew_gal7340]

@@JB-dv7ew uhm no, it is hard to maintain welfare... They intrude on your life monthly and you have to constantly prove that your income is below the threshold. You have to keep reapply every year for a review and it is a stressful and difficult process

[@AH_mich]

The dream of owning a decent home has been slipping away for a few years now.

[@NickMart1985]

Welcome to the ZIRP era.

[@davidplays6286]

That’s the point they don’t want us to own anything

[@davidplays6286]

@@numbzinger350 riot

[@numbzinger350]

@@davidplays6286 It looks like I was censored.

[@paulywalnut3364]

I purchased while homeless. I slept in my car and saved. Manifest destiny. Nothing is impossible.

[@snowvalkyrie]

Prices are not affordable! This guy is not living in reality!

[@keilana6]

Millennials in the tech field are the only ones that can afford a house these days as 1st time buyers.

[@nukenomad6503]

They are affordable compared to what the property will cost years from now plus they are buying to rent to someone else who will pay down the massive mortgages

[@BaaSicStuff]

What do you mean? Not affordable? You can get a 30 year loan for 2-4% APR, do you understand that? You're a guy right? OK, so real pretty girl, smart, in university, no debt, good girl; she can find a top level guy to marry, but many choose to have "fun" first with Chad, or head off to a job. Doing this makes finding a good man hard when you are 30ish. Thats called lack of investment in what you really want in life. What do you want? A New Car? A house? A wife? University? Military? Life is race, its competitive how about that, and most folks have no time to spare. You need to set your goals, cause you cant have it all. Having a home, a wife, a nice car, 2 kids, and on the road to retiring by 60ish is what the top 30% do, and its not hard. You can have all those things but theirs an order to it, and nothing replaces hardwork. The rich just make it look easy, also no one likes to work with a downer, the rich are not downers, theyre excited, energetic people. Get a mentor and listen, poor people are smart but they have this crazy pride, or though process that does not align with reality. Like liberals and the world they wish it was and what it is. Are their just some unfortunate circumstances, yes but again focus on the goal, stop wasting brain power on what does matter to your investment in your SELF

[@missalys4526]

Agree. A house that was $75k less 2 years ago is now listed at almost 160k with nothing having been done to the property to increase the price. How are people supposed to buy 1st homes or investment property at these prices? These current home prices are ridiculous. Most families are buying bigger homes and living together multi-generationally as it really is the only way to afford homes in this market. This man is out of his mind saying houses are affordable. Yeah I'm sure we are all loving paying 70k plus on the SAME house this year vs last year. Even realtors are admitting every home is insanely overpriced. If people can wait to buy, wait.

[@emichels]

Not affordable? You can get a house with no money down in Florida.

[@fredv7487]

As we race to the next housing crash. More people buying houses and less people working what could go wrong.

[@drywizardinc]

Lol

[@vanguard4065]

real estate will never die

[@xteric1]

more renters

[@ElearningDigest]

There won’t be a crash for many years. Low inventory and high demand is not a recipe for a crash.

[@vanguard4065]

they might not be working but they pay the rent or the government does

[@stephaniedanielson9670]

I’m a real estate broker in Florida. I went through this same BS in 2008. We are definitely in a housing bubble again. Once mortgage interest rates rise over 4% its all over.

[@LiquaFoo]

This. They keep saying its not a bubble bc of low rates making these elevated prices affordable. Ok so then what happens when rates go above 4 and it’s no longer affordable? Pop.

[@JB-dv7ew]

@@LiquaFoo Just ask yourself in 2008 if anyone saw a crash was coming. No one ever does, they continue business as usual and think everything will just keep going up

[@nickmhc]

I agree but I don’t see how it eases up in the next few years. It won’t be variable rate mortgages or [over extended multiple borrowers] again.

[@JB-dv7ew]

@@nickmhc If you knew how and when a market was going to crash you'd be a millionaire.

[@MR..181]

Savings rate..0.03%..for 10 plus years..vrs house price appreciation that pays tax ..!

[@jonathanhaven1690]

The fact there are "a 180 steps between making an offer and closing" is a huge problem in and of itself.

[@cwr8618]

It’s a massive purchase that potentially lasts 15-30 years though. To be expected

[@andy-ti9zf]

prices are affordable? what a joke.

[@1594simonsays]

Yep because these big wigs say so. Gaslighting parasites need to meet their end

[@williamsdeonna]

He meant , if you are going to use a 30 year loan, due to lower interest rates and compared to future interest rates.

[@masonhunter6173]

They are just not near you.. you can get land for less then 2k an acer in most states down south.. or even cheaper. You have to be ready to buy 10 acers or more and build yourself in nowhwere.. but its not unobtainable.

[@williamsdeonna]

@@masonhunter6173 where , currently ?

[@masonhunter6173]

@@williamsdeonna south georgia, and puerto rico.. its hard to look for property in the middles of no where but thats where you get deals. You have to show up and look and be ready to buy big.. no one will sell you two acers for 2k a piece be ready to buy 60 acers or atleast 20 if you are in ballpark of 2k an acer.. try tombsborrow GA lots of cheap land near there.

[@theovrionides7666]

This guy won't say people are leaving because off Democratic states ... and the prices are crazy .. this mike has no clue

[@simonsayshi]

Wake up lol red or blue they dont care about you!

[@carefulconsumer8682]

A realtor telling us we need a realtor to buy a house. Imagine that!

[@Sadtoday]

Washington state all the way!

[@alvnphmn]

@@carefulconsumer8682 Theres some truth behind it. Supply chain issue, labor, low interest rates, etc. Goldman sachs said they are projecting 15 % appreciation of sfrs

[@jessicabixler1658]

I live in a bluing state and we rose one of the highest.

[@MonetaryRebel]

Folks don't realize that low interest rates ARE THE REASON FOR HIGH HOME PRICES!!!! Easy access to credit leads to bidding wars! Houses should be for living NOT SPECULATING.

[@ProDrubi]

Bruh you don’t know doodly squat lmaooo tf is you talking about

[@AK-df2ve]

This. It’s exactly that.

[@ApriliaRacer14]

@@ProDrubi Actually Bio Lion is correct.

[@bonjovirocks24]

The supply chain is the reason for the housing shortage!

[@TheAS687]

@@ProDrubi he’s on his 3rd shot mans is lost

[@edmlegend7224]

Even in Texas the average prices where I’m from are in the $300k range when they used to be in the $150-200k insane

[@thomasmulhall4873]

State of housing: no American middle class people can afford one.

[@mr.counterpoint1862]

I have one and I’m middle class.

[@thomasmulhall4873]

@@mr.counterpoint1862 Are you in the Bay Area? If so, you're rich, and not middle class. You need $1.5 to buy a decent home here, and more if you want white neighbours.

[@mr.counterpoint1862]

@@thomasmulhall4873 So don’t live there. Grow up and move somewhere else. Why would you want to live in the Bay Area? People crap on the sidewalk there.

[@BruceLee-xn3nn]

@@thomasmulhall4873thats a shitty area. Its been 60 years since Cali was a good place to live.

[@lordabstract82]

I’m middle class, and live in a larger home than I ever lived in. Thanks to building my home, moving away from the city, oh yeah, and the VA loan and the love my county shows me for my service in the form of little to no property taxes.

[@CrimeDawg-uq5dd]

This guy is shady

[@joeygee11]

Slim….

[@brianrodriguez5931]

He is living in a bubble, as soon he said house prices are the most affordable in a long time is a tell tale sign.

[@zqpcydbfoqbdiehdj]

Yes indeed. Lol

[@zqpcydbfoqbdiehdj]

@@brianrodriguez5931 he just want people to be in debt. Lmao, since people believe what any *diot say on the media these days!

[@flipnotrab]

Any realtor is. 95% of them are JUST paper pushers with ZERO knowledge about a home or what a family “needs” Vs “wants”.

[@SJM6791]

I can only speak from my experience, but what I’m seeing right now is unsustainable. I know a woman that purchased her home for 299K three years ago and just sold it for 430K. Did her home really gain 131K in worth in three years? In my opinion, there’s not a snowball’s chance in Hell that happened. The new owners are going to be under water worse than people were in 2008 when the next crash happens.

[@jeffmason2691]

Not really, the Banks will are nt approving these loans if the buyers did not meet the requirements and can't afford these homes.

[@SJM6791]

@@jeffmason2691- We’ll see!

[@sew_gal7340]

@@SJM6791 there won't be a crash, there may be a slight correction. The situation in 08 is different, banks check rigorously through your background now. When I bought my house in February they contacted my boss and interviewed him... It was very thorough. Plus millennials are maturing and looking to buy their first homes which is fueling this growing housing market. The market will cool, but with the millennial demographic, it will be fine

[@SJM6791]

@@sew_gal7340- In theory, Millennials should be the largest group of first time home buyers in our country. Unfortunately, a majority of them have well over 100K in student loan debt and jobs that don’t provide enough income for them to leave their parent’s home. I could be wrong, but I don’t think they’re going to be the force in the real estate market that you think they’re going to be.

[@sew_gal7340]

@@SJM6791 They already are, i think 35% of them are part of the home buying process and growing exponentially due to covid and not needing to go back to the office. I am from San Francisco though, where a majority of millenials are rich (older millenials in their 30s )...they have that tech boom money. Many of my coworkers have bought homes out of state, I am 34 and i bought my first home cash down in february of this year. Millenials are reaching that age where most are settling down and having kids and looking to expand.

[@Bueller68]

No problem, there'll be plenty of empty shipping containers to live in.

[@ElizabethMBoyd]

They are 4 times the cost they were last year

[@reneeemigree9004]

Exactly! Short, to the point, and wise….this. Comment ! ✅😀

[@osl5686]

The condensation on the walls will create an ecosystem where you can recycle your own body's water. The cost of insulating and heating/cooling those will make you sell ur car! Win for Earth!!

[@thothheartmaat2833]

@@osl5686 TRY BURYING THEM UNDERGROUND.. PERFECT TEMP YEAR ROUND..

[@JJSmalls]

There are*

[@ssam143]

Any CEO of a company that derives its revenue off of the real estate transaction market will 100% of the time deny a housing bubble.

[@TheBandit7613]

I bought my house for $118,000 It's now valued at $800,000+ That's insane. I'm not moving so the value means nothing to me.

[@zomgoose]

Not only do they deny it, they pump it.

[@trenton7]

I was going to say the same thing lol

[@jennifercunha2539]

It's really not a bubble it's a weak over printed dollars gold prices are acting very weird though

[@eileeneclark9011]

@@TheBandit7613 10/20/21...Property taxes + insurance have also risen. Plus with so much unemployment + homeless + younger ppl NOT leaving mom's basement to become independent. WHAT about when parents go to nursing homes or die + Biden's TAX PPL take that inheritance away? Just sayin'....

[@kylegrimm8808]

"Millennials haven't been working that long" we are 40 years old! Been working for over 20 years.

[@engineeringreality7878]

Blame the situation the boomers have and are causing. They bought homes at 22 and didn't need student loans to get a decent job. They basically climbed the ladder and then kicked it down.

[@j.s.10]

All anyone wants to do is blame others. All comes down to self accountability. Learned crypto & invested when I had not much left. 5k in & I now have over 250k & in a few years I'll have over a million easily. Wasn't going anywhere but now I am. Life can change. Study day & night tho

[@LazyGrayF0x]

You’re not really a millennial, more like gen x

[@kylegrimm8808]

@@LazyGrayF0x Most consider millennials starting at 1981.

[@morningbird153]

Some of us are still in our 20’s. We aren’t all 40 yet.

[@arnstucki8641]

“Prices are affordable”. What the hell is this guy smoking???

[@coryeddy1026]

Depends on where you are located I've bought 13 this year

[@GRB22]

@@coryeddy1026 where? Detroit?

[@moparlyfe5689]

It’s all about location I got a beautiful 2 story house for 120k good location

[@shannonjohnson4314]

Tiny homes are affordable that's about it

[@tinainnca]

Because affordability is a monthly payment, not the sales price of a home. Definitely more affordable than any other time.

[@AdmiralFroggy]

It's already here. The housing market is absurd! Here in Reno houses 10 years ago literally were going for $50-80k. Now these same houses are going for $400k plus. That doesn't sound too bad but good luck getting an offer in when all the buyers are cash buyers or corporations.

[@thisguyshorty3554]

No wages are being paid to pay those types of mortgage payments.

[@-MaryPoppins-]

It never makes any sense to me. Ok, they buy all of the houses. They raise the prices so no one can afford to buy. How long will that last? It doesn’t take a rocket scientist to figure out it’ll explode within a decade.

[@danieldaniel7724]

It’s all desert what a joke 😂

[@sanbruno6010]

PEACE PROSPERITY BONANZA FREE THINKING HAPPINESS

[@tysonreuter5788]

Mary Poppins they have an unlimited about of cheap debt to wait you out forever, it doesn’t matter.

[@Breezemike]

Mike hasn't got s clue! Printing of trillions $ has caused this problem.

[@cjbecker1683]

Nobody mentions FED induced low interest rates......homes are so far overpriced up as the rates dropped & for this guy to say affordable is bull 💩

[@wesleygordon1645]

definitely!

[@aalsaleh]

He is hiding the truth

[@flipnotrab]

ZERO to do with printing money and everything to do with artificially inflating real estate prices.

[@t-dog8528]

@@flipnotrab buy land rezone land price goes up the worth is on paper only, it doesn't matter because only a group of crooks own it but they'll build a stronghold there via the strong cities program.

[@frozentundra7446]

The average home price is $365k at 20% down payment of $73K - good luck with that working at Starbucks!

[@thothheartmaat2833]

THE BANK WANTS TO KNOW YOURE INVESTED IN THE PROPERTY.. YEAH.. SEEMS REASONABLE..

[@thothheartmaat2833]

THATS ONLY 1000 A DAY...

[@caribbeanbound8357]

Move somewhere cheaper with good paying jobs. You can get a nice home in ok area for less than half that.

[@sanbruno6010]

PEACE PROSPERITY BONANZA FREE THINKING HAPPINESS

[@brandona.deimel5155]

Not all people are suppose to buy houses. Just like not all people are suppose to go to college. Just like not all people are suppose to drive German cars. If you can't afford it you don't buy it. If you want it bad enough you will save and find a way to pay for it.

[@SICKFREDO]

The American dream has turned to only being able to afford a shed and call it a "tiny home". Is a shed. keep telling yourself is a tiny home to feel better.

[@sew_gal7340]

No, it's actually a glorified trailer or Winnebago.... But they're super cute. Was considering one but settled instead for a 2500 sq feet colonial house... Because a tiny home loses value over time but a home accumulates equity.

[@masonhancock5350]

Most avg houses aren't worth more than $100k. It's a giant ripoff that the Fed, Banks, and the construction/real estate industries are all in on. Same for automobiles.

[@DWEthiopia]

@@brunocardona6283 You don't own the land when you buy the house......

[@francismarion6400]

You are not figuring in inflation! The dollar is actually worthless and we are involved in over $125 Trillion dollars in debt.

[@Its_windy]

This man is delusional. Affordable for who? You? Definitely not the average American.

[@cm1133]

whom

[@j.s.10]

Not even close

[@flyfishac]

Wages are going up. It will level out if you let the dammed market go!

[@bpaige12]

There's no shortage of older homes at affordable prices. But you do have a bunch of Distribution Center workers and CNAs who feel that they should have a brand new 3000 square foot home that's where the real delusion is.

[@diannpoore4676]

Realtors can't be trusted I will never buy a house through them

[@donaldlewis1481]

House pimps are lower than the insurance cartels

[@hondacrat4339]

agreed: An Agent at one of the Century 21 franchises wrote a complaint about Racism to the Century 21 Corporate Complaint app, they received the response that the issue would be addressed and instead the agent was swiftly let go from the Century 21 franchise for making the complaint. The agent wrote directly to Mike Miedler (his corporate email) regarding the acts of the franchise (racist & derogatory pictures regarding George Floyd, sexist photos, writings and the refusal to allow the agent to make a formal complaint there are pictures and emails as proof) and Mike Miedler never responded. The agent now has an active EEOC investigation into their complaint. This is not a "he said/she said" case but a case with indisputable evidence.

[@rubenguevara3367]

"Millenials... haven't been working for all that long" 🤨 29 years old here. Bought a home but stayed below my means to ensure not over extending in this crazy market.

[@AcaMaca1984]

Every time millennials are talked about, it’s like they’re talking about 18-20yr olds. I don’t think they understand that the oldest demographic of the generation is about to turn 40

[@EE-ie9gm]

Gen z is the next youth generation. Millenials are old heads now lol

[@victoria-qq4jr]

@@AcaMaca1984 I know right it’s so annoying, and Gen X and boomers always want to either blame us for bull crap or under estimate what we can do.

[@miguelmojica5897]

Exactly my reaction. I just bought my 2nd home a few months ago, at 30. Not doing anything crazy, just a regular 9-5 job and responsible money management. She must think millennials are college graduates or something.

[@TS-rd7oy]

The oldest millennial is now 40. They've been working for awhile.

[@johnrau2873]

No jobs no food no houses This is the world joe wants And its not getting any better

[@hootowl6354]

Sorry, but that's just stupid. NO president has the ability to do all these things in one year. This is decades of policy meeting a pandemic. For some reason you didn't mention Trump but let's not forget how much the last president blew up deficit spending with tax cuts to rich people. No one president is ever to blame - they aren't around long enough to do that much damage. Plenty of blame to go around, decades worth of it.

[@johnrau2873]

@@hootowl6354 keep telling yourself that Its not over yet jae has plenty of time to ruin the country he's about half way through

[@hootowl6354]

@@johnrau2873 Nah, Presidents don't have that much power. Corporations have more power than presidents do. Big money donors have more power. Special interests have more power. It's the system we have. Biden is just the convenient target of the day - rooted almost entirely in partisan politics.

[@topcat5988]

Is this guys a “car salesman” or what?? Holy cow Maria, vet your sources! They need to be presentable to be believable!

[@nick32121]

@@albundy3929 re watch this boomer garbage again if you really need to so you can process the information. Top cat hit it on the head

[@Chicago48]

the younger folk are buying houses that they can't afford.

[@RickLaForce]

But, but, real estate always goes up . . .

[@keilana6]

Be a lot different if developers weren't so greedy. Even my poor grandparents were able to purchase a house with 2 extra lots. Only for the elites these days.

[@dave8599]

Sounds like your grandparents were greedy.

[@jakesamual7803]

THAT IS THE WAY THE REAL WORLD OPERATES

[@imnotliketheothernerds]

@@dave8599 man, you'd think I'm greedy as hell living on a small farm in the sticks 🙄

[@andrewbenson8842]

@@dave8599 shut up Dave.

[@williamsdeonna]

@@dave8599 don't be an a$$

[@scott2228]

I bought my 1st home in 2004 at 27 with $400 out of pocket. Those days are long long gone. So sad!!!!

[@guyheavengym]

Tends to happen when large rental conglomerates buy everything up and charge $3000 a month for studios. We are all screwed.

[@Pilostudio]

Corporate ownership for rentals should be banned. While i believe in capitalism as free commerce, housing should be out of limits. There are plenty of fields corporations can make money on besides residential rent. They can play with all the commercial real state they want

[@Duke_of_Prunes]

@@Pilostudio It's a snowball effect. As corporations move in, the little mom and pop landlords like me are priced out of buying. Add in United States Senators openly encouraging their voters to refuse paying rent, and no sane person wants to take on the risk any longer. My advise: if you want to get rentals, buy real estate bonds (REITS) instead.

[@tanner9956]

You are absolutely wrong

[@guyheavengym]

@@tanner9956 care to provide an answer as to how?

[@sanbruno6010]

PEACE PROSPERITY BONANZA FREE THINKING HAPPINESS

[@1594simonsays]

I DONT LISTEN TO ONE WORD FROM ANY DEMOCRAT

[@billybelk1831]

Do the opposite of what they say and you will always be right.

[@eraserhead8548]

@@billybelk1831 do the opposite of what Democrats say, and Wall Street. Lolol.

[@flipnotrab]

Do you ask your bankers what party they affiliated with? I think not.

[@thesamedison]

I DONT LISTEN TO ONE WORD FROM ANY "POLITICIAN" would have been right.

[@eraserhead8548]

@@weldmin4818 Right you should take anything everybody says with a grain of salt however Im making fun of Democrats and Wall Street right now.

[@bigbrotherisasob]

Back before the housing crash on 2008, the NAR was spewing out statistics that the market was sound and the housing market was strong with nothing to worry about it. They were later found to have been falsifying the stats (aka - lying) and were sued because of it. They quietly paid the fine and moved on.

[@Hello-zf5lq]

How could they lie, they are professionals!?

[@unknownsender6852]

It's ALWAYS the PERFECT time to BUY BUY BUY!

[@masonhunter6173]

@@unknownsender6852 if you are buying cash and not getting a loan its better to buy now then to watch your dollar become worthless.

[@unknownsender6852]

@@masonhunter6173 Noooo getting a loan, especially at present rates, is waaay better than paying cash. Unless one is overpaying $100's of thousands, inflation will nullify amortized interest. Keep as much cash liquid as possible always.

[@basicboomer519]

That’s because the builders(in 2007) were going crazy building because of the inflated housing prices due to subprime mortgage lending leading to too many homes on the market. Now, we are in a situation where there is a deficit of homes because of increased demand from lower interest rates and a massive shortage in the supply and demand fundamentals of about 5 million houses in America.

[@ft9kop]

I'm Still living with my parents, and driving a 2005 Acura to try to pay off that school debt and saving a down payment.

[@markanthonys625]

Your a smart man

[@taylorem9123]

Blessings to you -- you'll get there as you have your priorities straight and not allowing pride get in your way!!!

[@MKActual.]

Student loans?? What a joke, I’m sorry you fell for one of the greatest scams ever…”college is for everyone”

[@missdesireindependance5194]

It’s better to stay home and save money until you can be a home owner. Rent is a waste of money!

[@francismarion6400]

Acura should go for another 20 years.

[@mayrajimenez7147]

Millennial here and bought my home, and no I didn’t go to college. Just saved and stayed away from debt what helped the most was not buying into the high end lifestyle. Don’t make a lot, but use my money wisely.

[@apartment-gouginglandlord-8775]

You are 1 of the few in the 23% of millenials who are very lucky to have American Dream! 77% or so millennials are dirt poor and stuck in apartments that are over priced, being evicted, in poverty, living in cars or homeless! You are very privileged and better be extremely grateful! You however will NOT be spared in future civil unrest / street war! Having wealth = sitting duck!

[@theadventurevlog7215]

I think there is plenty of inventory. It is just owned by real estate companies and nobody is actually living in the homes.

[@andrewsssx]

there really isnt. corporate's buying up homes only accounts for a smalllllll percentage. Single digit small.

[@GlassHalfFull10]

Stop listening to the internet

[@munchenonyou3774]

@@andrewsssx whos paying you to say that? Black Rock? Vanguard? Zillow? Gates?

[@nammdang6776]

Please name the Real estate companies which own the house inventory.

[@leahholmes9928]

Lol they’d be losing money by owning empty houses

[@damnsurfer522]

I mean this guy would love this to be true higher prices equals higher commissions.

[@coachv4712]

You would never get a completed honest answer from a salesperson.. come on Maria!

[@TopNotchChampion]

Hmmm... Bubbles crashing isn't caused just by the current house prices. This isn't a bubble YET. If you want me to elaborate, just ask 😁

[@breckandy]

When you ask advice of someone ask what they are selling.

[@laprepper]

Realtors are just middle people, they are always looking for someone buying or selling, it's just the nature of the industry. It's not like he said now's a great time to buy or now's a great time to sell, it's really market dependent and situational

[@MysteryKmt]

Century21 bought up my entire neighborhood in WA. Disgusting

[@Gunnychief]

Friend and neighbor said century 21 gave him a book on all the reasons he should sell his house to them last week

[@Sadtoday]

I don’t doubt it!

[@elvism684]

Who’s disgusting? The neighbors who sold their homes 😅

[@Dog.soldier1950]

They are attempting to build up inventory because so few houses on the market. Under build is the issue

[@johnnykwon8173]

Welcome to enclave mentality.

[@majcorbin]

Lets go Brandon

[@azhardav]

Won in a LANDSLIDE!

[@residentevilfreakk55]

@@azhardav lmao keep telling yourself that

[@azhardav]

@@residentevilfreakk55don't need to "tell myself". I see everyday Biden WON. Put down the Fox News crackpipe comrade

[@azhardav]

@@phoenix3.057 all you, trumputin is never coming back and cockservatives are evil bastards. Not 1 issue repugnants champion are above 50%! all LOSERS

[@sanbruno6010]

PEACE PROSPERITY BONANZA FREE THINKING HAPPINESS

[@Rincon009]

Yup, when a CEO says a crash isn't coming, you know it's already here...

[@b-rare]

I love how at the end he had to throw in there “there’s 180 steps before closing a deal so use an agent” typical real estate salesman script .

[@caribbeanbound8357]

They will be replaced by Blockchain in the coming future. No more middle men. Can't wait

[@jonathanhaven1690]

Sure, but I view it as an indictment on the whole system that there are that many steps, paperwork, and regulations. Biggest issue is get the government out of it.

[@cwr8618]

@@jonathanhaven1690 your paying sever hundred thousand dollars over 15-30 years that humans will inhabit. Water supply, utilities, safety , infrastructure, taxes, and a myriad of other things are involved. People want to push Amazon buttons for everything in life. There are impacts to this types of mentalities

[@jasonwebster8027]

We know what's going to happen. All houses will be owned by corporations because individuals and families will not be able to outbid them when a home sells.

[@boristheamerican2938]

Ya its that way now in my town. I own my house and around me I would say 75% are owned by REITs. This became a thing after the 08 financial crash. Yet another thing that is the fault of republicans.

[@sharkfence576]

Listen to the head real estate agent...he will tell you the truth just like a car salesman with a car

[@GK-op4oc]

In real estate, there is no better time to sell or buy than right now

[@r.d.9399]

They're all lying scumbags. I'm surprised they can even find wives and husbands.

[@arealgem9404]

🤣

[@thothheartmaat2833]

@@GK-op4oc ILL DO IT YESTERDAY.. OH WAIT I FORGOT..

[@thothheartmaat2833]

@@r.d.9399 THATS PROBABLY HOW THEY FOUND THEIR WIFE..

[@craigenputtock]

Soon people will just give up. The middle class dream is over.

[@slatsgrobneck7515]

Yes already happening, I believe. And not just here. China is fighting a labor shortage - young workers giving up the factories for casual gigs providing just enough money to live on.

[@thothheartmaat2833]

BUT HEY WE STILL HAVE THE HIGHWAY SYSTEM AND CAR DEPENDENCY.. JUST CANT AFFORD A CAR OR A HOUSE AND CANT MOVE..

[@jimmyboy1582]

It’s time for people to wake up and leave America. The dream died a long time ago.

[@AaBbCcDdEeF]

The administration said they won’t raise the tax on the middle class, but are trying to get rid of step-up basis. Guess one way to at least keep one of their promises is to make housing unaffordable for the middle class.

[@boxingfan5742]

We need laws that limit how many residential homes hedge funds (or other types of investment companies) can buy because they're pricing citizens/residents into homelessness with rent increases.

[@4FlatTires]

I don't understand anything anymore. 😳

[@NavyVet34]

The U.S. housing market WILL implode upon itself in time. The $64,000 question is WHEN? People MUST resist paying ridiculous prices for a place to live!

[@williamsdeonna]

@@phoenix3.057 No. This is a supply and demand issue.

[@elevator1tom]

@@phoenix3.057 More like investors are buying houses left and right, paying extra to intentionally force normal buyers out of the market, then renting those houses at excessive prices. You will own nothing and you will be happy, according to the new world order.

[@yaig1134]

@@phoenix3.057 Lol, nothing wrong living with family at this point.

[@NavyVet34]

@@phoenix3.057 Parents - when used in the possessive form requires an apostrophe (parent’s) my friend. I own my own home by the way which is “worth” HALF the current market value. Home prices are ridiculously overpriced by any rational metric.

[@Bekssss]

Paid only $5k for my home 5 years ago , 2008 chevy express Van , debt free to property tax , vacation every 3 months

[@miloauker8706]

All you need is an attorney and a good home inspector. Real Estate Agents are overpaid. Why should a person who did all of the work on their homes and slave away for 30 years to pay it off just give away 6% when they sell? Back in the days when there was no internet and the MLS was their secret you had to use them. Now you can easily find your own home on the internet platforms.

[@dr6770]

It's all due to people like him spiking up prices and buying up everything on the market and then selling them at inflated prices. It's almost impossible to compete in bidding wars against these people who have the money to buy out houses at full price on the spot.

[@johnwaters7847]

You worry too much about price of real estate prices. You should change your mind, because there are still homes selling for 100k and 200k, obviously not in the main metropolitan areas, but still you can find deals from an hour to two hours from metropolitan areas. If you work in the city and buy a 200k home in like an hour away commute in car. You can pay mortgage like paying for a cheap rent and build wealth fast like crazy because you will able to get another mortgage and make more income. If you let negativity flood your mind you will be poor forever, but if you keep a possitive mindset you can achieve anything anything you want. BE POSITIVE.

[@marineghost17]

Real estate is a racket, everyone knows this, the agent only sell houses that they get 5-7% commission. If you try and sell on your own they don’t show your house to their clients because they not getting a cut from the sale!! It’s a racket!!! The agent shows a house maybe 15 minutes and they get $20,000+ depending on sale price that’s stupid!!

[@kannonpatterson]

If you’re selling yourself you’re essentially becoming the real estate salesperson . If it’s not working then obviously they’re bringing something to the table . Most of which are potential buyers that it seems you don’t have

[@kannonpatterson]

@@E.Asinus not saying it’s impossible . Just saying that a bit of luck and showing the right people your home increases your chances or getting it sold . Hiring an agent does this right?

[@elvism684]

? Not really a racket. Why would they show “your” house to their clients if your not paying them? They don’t get paid until they sell a house from my understanding. 15mins x(people)=hours Do you work for free cause if you do let me know.

[@spinninsessions9626]

That's why most lenders can't stand agents. Lenders do all the work and get paid less. Yet the agents have the ego like they did all the work 😄 Agents are not smart and lazy.

[@double_joseph327]

What? There’s a buyers commission and sellers commission 2.5-3% each end.

[@kellypbr7742]

They were saying that exact same thing back in the 70's.

[@prettypunkqueen4065]

Dude I live in NYC where you can’t even look at home, yet alone “affordable “ housing apartments! The price of some affordable housing apartments start at $1,900 for a one bedroom!

[@ricardo9013]

Same here in Toronto a broken up bungalo with no windows like 2m

[@letsgobrandon3007]

I have two names for you: BlackRock and Blackstone. Fear them both.

[@brandonlarrabee5784]

End them both. Why fear weaklings and moral less Assclowns? They are nerds and boardroom generals from Harvard. Lol.

[@LoriMeg1]

Just found out Verizon’s CEO is on the board of directors with BlackRock. We are switching our cellphone carrier from them to.....heck, just about anyone else!!!! Check what companies are supporting BlackRock.

[@martylondre3887]

You nailed it way better than the expert

[@catcar9157]

Zillow too, they were buying up house’s like crazy last year, pumping the prices by 25-35%, now they stopped buying because no one can afford them and their projected profits…

[@wayneb8245]

@@LoriMeg1 you know Blackrock Manages the US governments assets right. Lol your goin to have to move countries if you want nothing to do with them.

[@titianmom]

It will pop and these people will take it in the shorts. The first-time buyers are priced out. This guy lives in his own bubble.

[@thehonestrealtor9070]

They always talk about the huge population of millennials coming to the market but never mention the huge population coming of boomers dying and leaving the market.

[@brentyoung4785]

1 in every 150 people in this country will be an unvaccinated illegel alien by the end of the year. Where are they all gonna live? This problem isn't going away.

[@lindsayann7756]

they better stay out of Texas, it’s not a sanctuary state. Brandon and the rest of the kooks can have them (California)

[@brentyoung4785]

@@lindsayann7756 ship them all to Deleware.

[@jessicabixler1658]

Yup 64% of houses are boomer owned. And millenials are a bigger generation

[@mmhthree]

@@jessicabixler1658 I'd be very surprised, if that were true on the size. Tons of babies were born in the 50's. Birthrates have continually gone down. I really couldn't see where the millenials is a bigger generation than the baby boomers. Baby boomers leaving the job market and retiring, there should be alot of high paying jobs for the next generation to acquire. All will be ok, kids just think they should top out at their salary at 30. It's more like topping out on money at age 50. Have a good one!

[@noopz8035]

If it weren't for my parents I'd be screwed 🙏

[@ThePeoplesReeltor]

They also forgot to mention all the Wall Street Hedge Fund Companies competing against first time home buyers.

[@dewanitheriault3372]

A weak interview, along with typical BS.

[@robertpaulson3501]

In the future everyone but the ultra rich will live in carboard boxes.

[@WingsOfDomesticViolence]

I'm so glad I got myself a cheap house - This was a daily stress for me.

[@normamimosa5991]

All those overpaid government workers who kept getting salaries and benefits "working" from home, as the government put others under such restrictive measures that they lost jobs, businesses, benefits and opportunities.

[@garypinholster1962]

Its not about inventory. Its about wealthy people buying all the possible inventory at WAY higher prices than they are worth then try to extract that money from regular folks just trying to rent or buy our first and single house. The wealthy are gonna realize will quick you cant just buy everything then charge what you want. I mean you can..... But when no one can afford it dont be mad you cant make the mortgage cause the rent is as high or higher than a mortgage payment.

[@MaximusXXX77]

It's basically the bankers behind all of this or Blackrock and others buying up properties...Great Reset, World Economic Forum's "you'll own nothing and you'll be happy". They want everyone paying rent and having anything you want or need delivered to you residence via Amazon, etc. They're crushing the middle class out of existence.

[@GlassHalfFull10]

Blame Californians and New Yorkers. They have inflated multiple red state’s cities and inflated our housing values.

[@JB-dv7ew]

Everyone needs to go on strike and live in their cars and shower at the gym. This way we can bleed these corporations dry while they pay their mortgages

[@toddage83]

Not sure who you are or what you do for work or what you studied. But I think that is the best synopsis of our current housing issues . Well said mate

[@toddage83]

Yeah how much farm land has Bill Gatesandchina bought up recently? Almost all of it, try to buy an acre in farmland recently ? Better win the lottery to qualify

[@javantgarde]

I'm a younger millennial. When I see headlines like this it means invest in said industry. I'm very disappointed in our government, we also need to end the Fed.

[@TheUser808]

Sorry bud but you don’t understand banking. The Fed isn’t the problem it is a completely unregulated real estate market where all properties are becoming investment properties.

[@Kyle-rk8bw]

@@TheUser808 no I don’t think you understand the original comment is right. Banks should raise interest rates to keep people from buying homes unless they can afford them. but are not allowed if they want to continue to be fdic insured. The fed is running out of ideas for inflation and as a result prices of everything is skyrocketing especially homes. The fed never fixes the real problem just band aids it. More regulation is not the answer

[@salyoutubepremium7734]

And what are YOU doing specifically to make your life better? Staying out of debt? Working 2 jobs? No kids til financially stable?

[@javantgarde]

@@salyoutubepremium7734 yep

[@javantgarde]

@@TheUser808 the fed is the biggest contributor to the wealth gap in this country, landlords are just milking the hell out of inflation to make more money. Come to Western New York and you'll understand what I mean. I left the city and moved to the country and I'm so happy I'm not under the roof of a corporate landlord anymore.

[@BlackKettleRanch]

They're moving for better political environments and out of the violent blue cities. What an opportunistic creep.

[@looplu]

It is brutal right now for the 1st time wannabe home buyer...sheer brutality...low inventory...ridiculous prices and high rents...no escape.

[@francismarion6400]

But at least Brandon is giving out crack pipes to ease the pain.

[@okthennone]

Buying a sailboat and heading out. Two home ports, one in Alaska and one in the South Pacific. American dream should not be going into debt to buy a house and/or tying your life savings up in a mortgage.

[@r4ym1n13]

Ooooh Alaska, nice

[@tipsydog3]

Right, well then pay cash.

[@missdesireindependance5194]

Sounds nice

[@andy-ti9zf]

i would rather have a higher rate and a lower price. If rates ever do go up substantially a lot of people are gonna be trapped again.

[@jpete3027666]

Just like in 2008.

[@ssoffshore5111]

Difference is is the vast majority today are locking in low fixed rate loans and have more equity. In the mid 2000's, there were many more doing variable rate loans and putting down 0-5%. A major downturn in the economy (stock market, job loses, etc) will still cause plenty to be in trouble though!

[@GlassHalfFull10]

No…. People get trapped when they don’t have a fixed rate. It is difficult to qualify for an adjustable rate loan for a owner occupied home. Talk to a reputable realtor and mortgage banker. Don’t listen to the KZbin experts in the comments.

[@rrmackay]

That is hilarious, real estate type already justifying super high prices for generations, totally refusing to admit the real estate crash is just now starting.

[@terrycoontz]

It’ll burst 😜

[@tysonreuter5788]

The government won’t let it burst, do they ever let rich people lose money anymore?

[@rrmackay]

@@tysonreuter5788 I hate to break it to you, the government is not all powerful, the only way they could stop runaway inflation at this point would be for congress to stop spending and we know how likely that is to happen.

[@marshabaker6153]

I use to be in RE. We pushed to raise prices so you can mostly thank RE agents for these high prices. What owner would turn it down when an agent recommends a sale price Higher than what the owner thought? I don't know any. It will crash soon. Prices can only go so high and rates can only go so low. People on subsistence can't qualify to buy homes if they aren't working at all. Prices going up are going to make it hard to make payments soon. It's coming.

[@Doctor_Bong]

Home ownership is for TAX PAYERS.

[@SteamvilleQuintet]

And when you rent from us, you pay our taxes. Okay, now for the simple - YOU WILL PAY TAX no matter what.

[@jessicabixler1658]

Except the super rich investors don't pay them

[@missdesireindependance5194]

Most of us homeowners have homestead exemptions in certain states so no high taxes!

[@jenniferthompson6768]

The oldest millennial is 41… people, they’ve been working 20+ years to own homes. People keep thinking millennials are youngsters and that’s just not true anymore. 41 - 26 years old, even a 26 year old could’ve been working for 10 years if they started at 16 (like me).

[@jasonbourne2331]

The problem I would argue is years of poor financial decisions. I didn’t go to college, I got a job, kept working, met a girl, married her, had a child, got a home and I’m only making $75k.. we have no debt besides our home and we have 2 paid off cars. The dream is still alive. People are more concerned about getting the new apple product or having a flashy BMW. Too many millennials try to “live in the moment” and now that the future has arrived, they have nothing to show for it. QUIT COMPLAINING, us millennials are NOT VICTIMS.

[@disorderling]

​@@jasonbourne2331 Bingo. I’m a 30 year old millennial and this is what I see my peers doing all the time. $40k in student loans making $35k per year, but almost every single one has a MacBook Pro, PlayStation 5, 4K TV, the latest iPhone and Apple Watch, just bought a Tesla or a brand new car and instagram is full of vacation pics from Hawaii and Cancun, subscriptions to Netflix, Disney+, Amazon prime and hello fresh or ordering door dash takeout 5 days a week, all the while living close to downtown in a fancy apartment for the nightlife. Oh and don’t forget the pets (more mouths to feed). Sure, there are systemic issues, but man we are a bunch of entitled, unhinged consumers trying to keep up with the Jones’. I drive a salvage title 2004 Ford with 190k miles and live in a cheap apartment on the blue collar side of town. Been saving for the past 3 years with my wife and we are about to put $100k down on a $500k new construction home in Colorado. There is still a small chance at the American dream but instant gratification is killing it for most folks.

[@slatsgrobneck7515]

@@disorderling A 30 year old with $100,000 savings - smart decisions and discipline. Smart Man! :)

[@euenfheiejrj]

@@disorderling I think it depends on your area. Most people I know make six figures and many don’t have cars but the ones who have cars, have very simple cars like Honda civics or Kia Soul (like my husband), not Tesla’s or bmws. They usually keep their iphones for years until they die, like their computers. They take vacations but to more exotic places than Hawaii or Cancun. I think there’s a huge difference between real wealthy folks versus people faking it or maybe it’s city vs suburbs. I’m 34 so I don’t think it’s the generation. I see a lot more keeping up with the Jones in the burbs.

[@disorderling]

@@euenfheiejrj I think that's a valid point. It may be area-dependant. But I'm pretty sure millennials making 6 figure salaries is not the norm, so you might live in a high income or very high cost of living area. The median household income for millennials was just under $72k in 2020, less for individuals. It is very difficult to make it without a car (or two) in most parts of America. My wife and I have lived in Texas and Colorado, and we have made friends both at work and at college (undergrad and masters). What I have described is something common I have seen throughout our experience.

[@froggerjohn427]

I had an approved mortgage 1 year ago for 180K$ and decided to rent a year to watch the market. Literally can’t even find a house now for 180k$. 26 years old and priced out of the American dream.

[@FreeSpeechisMyRight10]

Depends on where you live

[@j-r1277]

Go to Mexico 😂

[@francismarion6400]

It does depend where you live.

[@mikesiret5171]

Did he answer the question about what he thought of Zillow pulling back from buying houses? The fact that he did not answer the question shows you that the housing market is about to crash. They know something we don't know.

[@LarsonFamilyFarm-LLC]

Property taxes are not affordable....it's the property taxes rolled into your escrow loan payment that makes things un-affordable. Even after you get into your house...you'll be hit for decades of tax increases. It's becoming common for people to get done with their loan...own their home outright and still pay 1,000./month...$12,000./year in taxes.

[@jonathanhaven1690]

We should never ever owe the government anything to keep owning something.

[@jr.3212]

It depends on where you live. In my state you can pay $2-5k a year in property taxes. However; I’ve talked to people in IL that were paying $16k a year in taxes which to me is insane!

[@LarsonFamilyFarm-LLC]

@@jr.3212 Absolutely insane...that's 3 or 4 month's salary after taxes... just to pay your property taxes for your home. No wonder people are moving out of Illinois.

[@francismarion6400]

Most places have some sort of homestead exemption so the property can not appreciate more than 3% per year. That is what Florida does. Its not the taxes, most people just don't know how to LIVE WITHIN THEIR MEANS. Even much more so when we have Socialists running the country into the ground and spiking historic inflation on us.

[@LarsonFamilyFarm-LLC]

@@francismarion6400 Then your lucky in Florida...Texas is not so kind....How much is the homestead tax exemption in Texas? School taxes: All residence homestead owners are allowed a $25,000 homestead exemption from their home's value for school taxes. That's all we get on our $300/400k homes...just 25k of that value removed for school taxes.

[@shadythereok]

LoL, $320,000.00 for a $65,000.00 here in Chattanooga, poor people It was just 2008 when people in Florida lost their life savings Foolish

[@tomzimmerman44]

I make more than most and now also have a significant amount of stock. I might be able to get a home soon. However, it seems obvious that many will not. Honestly, it does really suck competing with cash offers, institutional investors and Chinese investors.

[@jeffmason2691]

It is not only Chines investors but European, Australia, etc. Anyone rich is looking to park their money in Real Estate.

[@jerryh2954]

I couldn't afford a home in CA until I was 45. I was making 90k a year at the time and waited for a recession to buy.

[@flawsinstyleg.9799]

And this is why I’m into crypto for a year hopefully I can afford a home in my 30s

[@flipnotrab]

Real Estate has been artificially inflated for 30+ years and clowns like this guy are responsible for it. House worth 90-100k yet agent will “say” 115k and let it sit until they get 110k. Then neighbor wants to sell and realtor prices it at 120k and cycle continues to artificially inflate property values. Think a bank is going to complain? Nope! That continuing bump equals years more of profit for them and debt to consumers.

[@ketangulmani7930]

Hey Mike, stop saying, “literally” so indiscriminately. It is senseless and annoying.

[@IIVVBlues]

Each time a house comes up for sale in my neighborhood (south Puget Sound area), they are sold within a week or less. Our median house price is about $700K. Right now, in our 22 year old development of about 165 homes, there is nothing at all for sale.

[@DJR5280]

Housing prices are soaring year after year. Rents are soaring. Wages in many sectors aren’t even close to keeping pace. Pair that with record inflation and a weakening dollar. Everything is increasing in price. Unfortunately most people believe real estate will just keep going up and up and up with no consequences

[@terrycoontz]

It wasn’t even that long ago the market proved that housing prices implode. That’s why it’s scary they didn’t learn. Now they are purposely making it crash.

[@13WICKER]

Exactly! With food, fuel, clothes prices going up and wages lagging, people will not be able to sustain their mortgage or rent payment. Once interest rates rise and all the speculators who bough 2nd homes and investment properties don't see cashflow (rent - mortgage) or appreciation, more will hit the market and a meaningful correction will begin. May not be a crash but this situation is not sustainable.

[@jrculbertson7463]

It's out of control. What goes up will always come tumbling down eventually.

[@joeo7257]

Crime is getting so bad that people are overspending on homes to ovoid the criminal element.

[@ayindetaylor8423]

This guy's assessment of the real estate market is waaay off...Is he reading lies from a teleprompter? Our economy is cratering.

[@laprepper]

The economy is doing very poorly but because of that many people are putting money into real estate as an investment and not just to purchase a home. But it's not just one real estate market there's thousands of real estate markets across the country that are vastly different from each other. If real estate is just somewhere you live then buy a home in an area that you like for a fair price with a fair interest rate and a fixed mortgage and focus on the rest of your life, if real estate is part of your investment portfolio then you'll work with a professional realtor and other professionals that will help you understand your local market. Watching the CEO of a real estate company is not going to help you solve your individual problems no matter how smart they sound

[@sanbruno6010]

PEACE PROSPERITY BONANZA FREE THINKING HAPPINESS

[@johndeaux3703]

"With this work from home phenomenon you can work from anywhere" The amount of the workforce that can work from home is probably .005%.

[@troyhampton5339]

Absolutely not correct.

[@kittykathurricanetexas1634]

Looks the American people are selling themselves out by accepting those offers from Big corporations..

[@troyhampton5339]

@@kittykathurricanetexas1634 no they are not. This guys metrics are off.. your grammar is clearly off...

[@normamimosa5991]

Most "work" from home workers are government workers. A really bad sign for taxpayers, because we all know they don't actually put in a 7-hour proper work day, when "working" from home. A government worker told me that not only are they continuing to work from home, but they were actually asked if they wanted to return to the office. We all know how that poll worked out.

[@icecrystal3255]

Right? Like, he needs to quit saying it lol

[@bobfognozzle]

Century 21 lied to me about the owner of the house next door…said they had children….the owner was actually a woman who continually harrassed my wife and children. The 3 and 5 year old could not go outside because she would yell and hoot at them. I was glad to leave that place. What crooks.

[@paulk9985]

You blame a Realtor because you did not perform your due-diligence? smh

[@vanderumd11]

Lol you couldn't stand up to your neighbor

[@rcv9360]

Why are corporations buying retail homes? This needs to be regulated ASAP. Otherwise, most of the new generation would have no choice, but to rent or live in cars!!!

[@rethinkcps2116]

Vulture capital firms buying homes in bulk, to rent. Also, ABNB hosts & others buying in Florida. Colorado & Cali etc. to rent short-term. Families have to compete with all that -

[@alexmosichuk3406]

Mike is a REALTOR, do I have to say anything else ?

[@doc.christopherthompson324]

. Ha.Ha.Ha

[@Oldplace-xc7pb]

Building lots of cookie cutter homes here in florida. Traffic unfortunately getting worse too

[@sorry2527]

Most of the younger kids don’t even care about buying a house anymore. They are more than willing to put 30k into an apartment year after year.

[@froggerjohn427]

I’m so tired of hearing this. Just because your failed offspring has no ambition doesn’t mean we’re all that way

[@JB-ri6zp]

That's not true. My friends and I aged 24-28 have well over 100k ready in down payments combined to buy a house but just like any market its not smart to buy when volatility or RSI is high

[@neruil77]

30k in they're parents basements..

[@missdesireindependance5194]

They should buy a home and rent the rooms out to own it faster.

[@TaylorSharkey]

When you buy a home in America you have to pay for protection from the mafia aka property taxes

[@SICKFREDO]

"people" are pouring into the residential real estate... AKA these firms buying up what would have been someone's first home. He wont blame the real culprit because those are his buddies.

[@alfandeddie]

He’s just protecting his job. People are onto the real estate agent scam.

[@GlassHalfFull10]

What scam?

[@beattospec4487]

It’s a rich person game If u don’t own already U invest in Ameritrade Then spend earnings on a place to tenant occupy Rent to pay both mortgages it’s smart But u gotta get away from hourly wages to buy a piece of the pie It’s not easy