"EXPECT HOME PRICES to Continue to FALL," Says Redfin Chief Economist

[@AndrewFinney]

QUESTION ❓ - How would you describe the current housing market? 🔍 Get Connected with a TOP Real Estate Agent Near You 🔍 ➡ homeandmoney.com/andrew/ ---- Or, if you're planning on buying or selling your home in the Las Vegas, NV region, let's connect: calendly.com/andrewfinneyteam 💰 Get the best rates with the best credit score - with ScoreMaster, the average credit score increases by +61 points in 20 days* ➡ www.scoremaster.com/andrewfinney 📘 Download the FREE Home Buying Process Infographic ➡ hometribeteam.mykajabi.com/homebuyingprocessinfographic

[@amesasw]

Our income in 1 year went up $100k with the wife back to work and raises on my end. And we still cant afford to upgrade from our 2 bedroom condo to a 3 bedroom home. 3 years ago this income would have easily afforded a home in our area. Seems like the only way people are affording homes is to trade down to a cheaper area.

[@AndrewFinney]

Hey Steven, thank you for watching and sharing with us. You are absolutely right. That's one of the big reasons why homeowners are listing their homes for sell. Where do they go? The housing market has become so expensive even homeowners might not be able to buy another home if then sell even with great income and equity from the seller of their existing home. That has a lot of people, holding tight which adds to the issue. Home prices need a correction so people can move freely again. While a down turn in home prices isn't what a lot people want, it is needed for our Country so more people can sell and buy a home and first-time buyers can buy a home. I greatly appreciate you sharing with us Steven. Sending you positive vibes everything is going your way!

[@AquilaCat]

What am I waiting for before buying a home? I'm waiting for prices to go back to actually being affordable. It's only me so I don't have a partner contributing income as well. I can be qualified right now for $150k, but not even the cheapest houses or condos in the area are that cheap, so I'm completely stuck with just renting. I managed to afford to live on my own in an apartment for the first time and then after just a year I had to move in with a roommate again because rent would have raised too much next year to afford it. I tried downsizing to a cheap studio apartment, but all the ones that don't have waiting lists are going for almost as much as I was paying for my 2 bedroom apartment. If I could find a studio apartment going for $650 I'd snatch that sucker up so I could actually start saving up money for an actual home. It all just sucks.

[@teebron5336]

bought our first house 3 years ago after watching your videos, i watched them for 3 months til when bought our home. I used and applied the knowledge i recieved from your videos. Am still learning from your videos as a landlord i need to keep track of the housing market and everything around housing

[@AndrewFinney]

Hey tee bron! Thank you so much for watching and commenting. WOW! You're fantastic! It really means a lot to me you're still with me. Thank you for sharing what is valuable for you to know right now. =) Sending you positive vibes everything is going your way!

[@mickygarcia4251]

I think we're living in a cartoon. I think it's time to buy a boat and go for a weekend excursion to South America and never come back.

[@AndrewFinney]

Hey Micky, thank you for watching and for commenting. Yep, sometimes it can seem that way. All the same, by hanging in there and working on improving our communities, Country, and world together it can and will be a better place. Although, boating around South America and the world would be amazing! lol... =) Sending you positive vibes everything is going your way!

[@billysmith6284]

In 2009 my neighborhood went from $180,000 down to $120,000

[@AndrewFinney]

Hey Billy! Thank you for watching and for commenting. Indeed, between 2008-2011 we witnessed massive home depreciation that hadn't been seen since the peak of the Great Depression in 1933. The real estate market began to resume some stability by late 2011 and going into 2012 started to appreciate again. Such began the last 10 years of unprecedented home appreciation with the height coming between Jun 2020- Apr 2022. Now, here we are facing down new issues with some speculating the housing market will crash others that stating it will go up, and then folks like myself that look at the fundamentals and calculate what a reasonable degree of depreciation looks like for homes to return to a valuation the median home buyer can afford. That said, curious question... Are you still living in the home you mentioned? If so, what is the current valuation of your home? It'd be fascinating to hear from you about your experience of watching your home value go from one height, to an all-time low, then back up again. =) In any case, sending you positive vibes everything is going your way! =)

[@billysmith6284]

@@AndrewFinney I sold the home November 2021..

[@AndrewFinney]

Congrats Billy! If you don't mind me asking, what did it go for and did you buy a new home at the same time?

[@billysmith6284]

@@AndrewFinney sold for $426,000 . I Bought farmland.

[@AndrewFinney]

OUTSTANING Billy! Congrats! In 13 years you witnessed your previous homes value go from 180k -> 120K -> then sold for 426k! Phenomenal. Super happy for you. Please let me know what you would like to watch next. Thank you. Sending you positive vibes everything goes your way!

[@katebrunne4311]

Home prices had nowhere to go but down.

[@AndrewFinney]

Hey Kate, thank you for watching and for commenting. Yep, you're right! Sending you positive vibes everything is going your way!

[@gatorgator7728]

Rates caused that dear. Not some made-up market. You're only paying banks more now. So where's this down you mentioned?

[@heyitsme881]

Depends on the market. High demand areas will continue to rise. Especially areas that also have housing shortages. With remote work and people continuing to flee from Blue states, a crash is highly unlikely.

[@AndrewFinney]

Hi Heyitsme! Thank you for watching and for commenting. Time reveals all. One thing is for sure, we're in uncharted waters in so many ways. Not only in housing but also in the world. My thoughts and prayers are with everyone as we navigate the present and future challenges to a better & sustainable tomorrow. Sending you positive vibes everything is going your way!

[@gatorgator7728]

Smartly put. Everything's overpriced but we're demanding crash prices for houses

[@judithschenk5148]

I agree with you that houses are so expensive…who do seller suppose can afford these high price houses in an average Track home neighborhood!

[@gatorgator7728]

The same ppl who can afford overpriced gas, food and interest rates. The house was overpriced when the seller bought it. But you want it at a crash price. REALLY!!

[@AndrewFinney]

Hey Judith! Thank you for watching and commenting. Great to see you again my friend. The real estate market is in desperate need of a correction so more people can afford to buy homes again. Rents are skyrocketing making it even more difficult for people to buy a home too. Sending you positive vibes everything is going your way!

[@Falconlibrary]

"Housing prices are going to go up every year for the next five years. There is no better time to buy than now."--Dave Ramsey

[@AndrewFinney]

Hey Daniel, thank you for watching and for commenting. =) That's an interesting position Mr. Ramsey is taking. He's a brilliant guy and we'll see what happens. The fundamentals of real estate are off track and needs to get back on track to stay the course to a sustainable tomorrow. Time reveals all. We'll see how it plays out. My prayers and thoughts are with everyone as we navigate not only the housing market but the world together. Sending you positive vibes everything is going your way!

[@gatorgator7728]

Bread isn't the same 5yrs ago. But we're demanding crash prices for homes. Sellers are saying, "Don't make me laugh."

[@aiartrelaxation]

So the trick is shorts videos to beat the algorithm?

[@AndrewFinney]

Hey Marion, good question. In short, lol... The algorithm is the algorithm. I've spent years creating 730+ videos in total. Most of them are "unlisted" at the moment. Last year I tried to play with the algorithm based on some things I learned but it didn't work out for me. That said, the videos I'm creating now average around 11-12 minutes because that's just how long the content takes for me to present. I'm focused on keeping them short as possible and not wasting time by jumping into the content fast. After all, that's why a viewer clicked the video, to begin with. One thing I've learned since this May 25th, 2022 is to just forget about the algorithm altogether. Focus on delivering solid content, adding value to the viewer, and work on improving the presentation of the information/ education in a way that people relate to you. I know, much easier said than done. I'm a work in progress too. Anyhow...I recently found a channel called Film Booth by Ed Lawrence. His channel is mind-blowing to me personally. Awesome content and very helpful information. I look at what he's doing and how he shares content for ways I can improve my content to better serve people. Film Booth Channel kzbin.info Another outstanding channel that has a very robust KZbin education is Think Media. I personally know them and have been one of their students for years. It'll blow your mind how much really goes into creating KZbin videos and how the algorithm really works. Think Media Channel: kzbin.info The one consistent message is to ALWAYS seek ways to improve your content to help the viewer answer the question of why they clicked your video to start with. I hope this helps you as much as it's been helping me. I plan on creating another channel or two about different topics and I will use all the lessons I've learned for the past 6.5 years and 730+ videos from creating long-form, short-form, mini-series, live streams, reality shows, etc... to launch the new channel(s) when the time comes. Lastly, one thing I've picked up over the years from any mega-influencers/ content creators is this... Most of the channels we see that have enormous followings ARE NOT their first channel. In some cases, like with Sean Cannel from @thinkmedia, Thing Media is like his 7th channel! Anyhow... I didn't mean to write you a book, just wanted to help out. Sending you positive vibes everything goes your way!

[@gatorgator7728]

Everything's overpriced but we want sellers to sell at crash prices. If the house has major issues yes. If not take it off the market and raise the rent. Buyers backing out has to live somewhere

[@AndrewFinney]

Thank you for watching and commenting Gator.

[@gatorgator7728]

@@AndrewFinney YW

[@danimirmartell]

House price is dropping but important areas will keep their price or will be removed out the market like LA, where seller are talking home out the market, rent is increasing price more than 6%, seller won't rent their homes because is a nightmare eviction in CA. so they prefer to keep it empty and wait for the next boom. there's a lot of buyer looking for home, but with the interest high, mortgage will go a couple thousand up, so home are sitting in the market, until the fed low the price or economic collapse, food is going up, like 4% more this last month, and this month I already see increasing price in LA. I just thinking the FED will cause a recession in the house market and increase in the food chain. is oil continue high price, everything in the world will be high. we can't forget how inflation get into us. "BIDEN"

[@AndrewFinney]

Thank you for watching and commenting Danimir. It's definitely a rough time for most of us. We'll get through this together. For my part, I'll do all I can to help folks have solid information about the housing market and spread positivity. Sending you positive vibes everything goes your way!

[@Dayvid85-s4o]

Everyone let’s rent for 6 months until prices drop or move in with family, People need to stop buying and control the urge to buy in order for these prices to drop, sellers need to stop being greedy and drop prices now before they keep raising rates

[@sandorvarga.6982]

SUCCESS.

[@AndrewFinney]

Thank you Sandor! I read your comment on the video you watched and wanted to ask you to check this one out to let me know what you think. You beat me too it! lol... Thank you so much. I'm working on another video now and I'm planning on doing something a bit different (I haven't done it before) and I hope it will be fun and educational for everyone. I pretty excited though nervous too. lol... Anyhow... Sending you positive vibes everything is going your way! =)