Home Buyers DISAPPEAR in Dallas, Phoenix, Atlanta & OTHERS!

[@luckyjordan8139]

I have liked every city I’ve ever lived, mostly in California, (until it felt like time to leave) liked Arizona, bought some guns, liked Texas, ate bbq, now live in Brazil and I LOVE IT HERE.

[@Gainesmils]

Are there a lot of Americans out there?

[@luckyjordan8139]

@@Gainesmils I’m about it in my town, but My wife is Brazilian and most people I meet love Americans and the US. When we tell them where I’m from, they get big smiles and say “How cool is that!” Or something similar all In Portuguese of course. Everyone wants to practice their English on me and ask me why I left paradise. - I answer that “God is Brazilian” a common phrase, they love it.

[@bootburner4544]

@@luckyjordan8139 start a channel providing information to help those interested in moving there. I'll be your first subscriber!

[@henrystowe6217]

Brazil is great under Bolsanaro

[@krazy_lobito4335]

@@luckyjordan8139 whats the high crime in Brazil? I heard there is organs black market.. that americans get kidnapped and remove their organs and leave the shell body.. if somebody needs a liver or kidney, most buyers goes to Brazil.. idk if thats true.. but thats what I heard.. like the highest crime in Mexico its.. kidnapping.

[@kendallritenow1309]

You've been saying the same thing since before June and we haven't actually seen home prices across the board drop like you have said they would. The 2008 housing crash was due to lending money to subpar buyers and loans getting split up and sold to investors. We won't see a crash like 2008 again, and we are years behind demand in housing so prices will continue to rise slowly.

[@life_of_riley88]

Do some research on the dollar shortage of 2008. Might change your opinion on what actually happened, not the "subprime" lie that Wall Street needed in order to cover their asses.

[@simplereef4854]

AGREE, HOUSING MARKET WILL NOT CRASH. SORRY FOR YOU GENX

[@jeffreyferguson83]

Here’s what we didn’t have in 2008 Runaway inflation! And if that continues you will see buyers dry up quicker then a hot day in Death Valley 🏜. People stop spending because they get scared. Will it be a crash! I don’t think so, at least not like 2008-2011, something in the 20% range is possible.

[@ironmonkey1512]

I agree, I think the inflation in home prices is permanent.

[@abhisheksunrise]

Agreed, his videos seem to be clickbait. Nothing to look here. Even if the migration is dropping to pre pandemic level, that does not mean that home prices will drop as long as there is no reverse migration. People still want to move to these still affordable markets and so are companies as well. And he is forgetting one this, the new world is a remote world and anyone can work from anywhere they want.

[@thrumyeyesphoto]

Moving from Los Angeles was quite possibly the best decision I've ever made in my life. My quality of life is through the roof, and no longer being surrounded by miserable lunatics is also a massive plus! :)

[@hebrews11vs5]

What region are you in now?

[@generalinbox3740]

Do you still vote like a LA liberal

[@generalinbox3740]

@@nobodynever7884 watch out. The city people are coming and they will vote for things to increase your taxes.

[@thrumyeyesphoto]

@@generalinbox3740 You're a dolt. Do you think I spent thousands of dollars, moving nearly 3000 miles, to vote for the same idiocy that I just left? Please.

[@r.m.1532]

@@thrumyeyesphoto I so glad to hear you say that. Sounds like you’ve got a good head on your shoulders. :). Unfortunately, there are a LOT of people who don’t… hence the concern.

[@hhps3]

Consider that some portion of these "home buyers" may be investors looking for rental property, not necessarily to relocate.

[@bootburner4544]

Exactly what I was thinking. This guy is not very smart. In his previous video he said the data showed that Miami was low on the scale compared to other FL cities in regard to people moving and buying there. In this video he shows Miami as one of the highest. And showing/comparing outflows from cities as absolute numbers is nonsensical. Instead he should show the percentages based on population size.

[@daltonl8751]

Spoke to a leader at a national homebuilder (DHI) say this has happened in Boise too. His words; "The demand has turned off. Buyers are crying uncle."

[@jayf6525]

Not in my area of Boise

[@yvonneadrian734]

Not in my neighborhood either!

[@MrPotatoPoo]

I live in Phoenix and this is true! For sale signs are everywhere whereas three months ago homes were being bought and sold without being listed on the market… Things are changing

[@williamwendt8304]

Not so sure yet. I live there too. The reports I follow (ARMLS and Cromford) show prices up 40% in 2 years, inventory has not increased much, 8,000 now compared to 16,000 (2019 averaged). I think we got as low as 15 days on inventory, which is up to about 24 now, so better, but 2.5 months has been the 11 year average I think, 8 months being the 2010 number.

[@cindywilliams2445]

Hope so, I'm looking to buy a house in Phoenix. Not an easy feat right now. Maybe it's for the best I haven't gotten something yet.

[@Re3iRtH]

Do you think housing prices will be higher or lower in 10 years. Simply answer the question. Every year you wait to buy real estate in the US is every year you fall behind. Keep waiting for the real estate market crash next year that never comes, the one that I've been hearing about since 2015 😆

[@ds5651]

@@williamwendt8304 They are starting to build like crazy in the westvalley. Inventory will be going up in the next year or two as the new builds hit the market

[@salflores18]

This makes me so happy 🥳

[@anthonywray9522]

Greater Austin is still a nightmare for prices. This city needs to go way down by 30%+ for it's residents before 2020.

[@peacegoddess5]

before 2022...?

[@jayc4346]

@The Trashman im trying to ...... ummmm no.

[@AustinDashes]

@@jayc4346 apparently Austin is ranked number one place to live in the world LOL. I live ten miles north of downtown Austin 😆 it's ok

[@onezero9512]

I’ve been saying for over ten years that here in LA prices need to be halved and then halved again to get back to normal price to income ratios. I set that pipe down 5 years ago. The prices are never coming down, other than momentary spikes/dips. We need massive pay raises …. Don’t worry about me, I’m not holding my breath.

[@jmitterii2]

@@onezero9512 You know why? Our idiot nation isn't building enough housing for population growth. No planning at all leads to shortages. Pure and simple.

[@AX-Driver]

Its not a downtrend or massive dropoff when the level is still elevated but not elevated as much as previously. In other words, compared to the reference point (pre-pandemic) a downtrend is when the level is "below" the pre-pandemic level. Therefore, in many of the markets covered, there is still more migration pressure than pre-pandemic, just not as much pressure as existed at one point in time. So, that doesn't tell me that prices will fall, migration is still elevated. Now, it is possible that migration will drop below pre-pandemic, but that hasn't occured yet.

[@rhuffstedtler]

Yeah, those disappearing buyers snapped up 3 houses I had on my watchlist this morning. One had only been on the market for 16 hours. So, bring on the decline, please.

[@AX-Driver]

@Kevin Schmidt The stage is possibly set. However, I disagree with the MASSIVE building projects. That is only in a few markets (Boise, Austin and one or two others). Most US markets are only building at long term trend or below (granted up from the last 10 years, but that was due to oversupply in 2003-2007), and are were at or near record lows in vacancy before the pandemic began. Those markets (nearly all of them) are no where near an over-built situation, nowhere near. Check the St Luis Fed MF and SF vacancy rates and you can see the vacancy trending down to record lows or near lows despie building ramping up.

[@AX-Driver]

@@rhuffstedtler Yeah, it will come, all things normalize over time, but it is still elevated, just by a little less than it was.

[@suemarshall6185]

It's not demand that's dropping as in wish list. It's the no of people that can afford to move now that has gone down. Incredible price rises in the Southern states.

[@AX-Driver]

@Kevin Schmidt I do watch Ivy, I was a little suprised on her concerns over Phoenix. I actually live in Phoenix. We are still increadibly tight but there are sticks in the air everywhere and at these prices the incentive to ramp up building is MONUMENTAL. Given there are few impediments (somewhat similar to Texas for gaining entitlements), supply will ramp up fairly quickly. I think Phoenix will not be the first market to crash as its not nearly as far out of balance as Austin and job growth in export industries (manufacturing mostly) is collosal, so it can absorb the current supply pipeline. But, as it continues to ramp up, as soon as that recession hits, PHX will crash hard. In my view, because job growth is so strong, that crash is a while off and will likely be recession triggered. 90% of my rental properties are in no-supply-California but my Phoenix stuff will suffer for a while.

[@double_joseph327]

As someone who is currently buying a home in Phoenix. I just made an offer on a house that had 10-15 offers…. It’s not easy here. Specially with inflated prices and interest rates on the rise.

[@aw3279]

Same! But don't worry this man swears the market is going to crash so all of us should just wait 😉

[@Ls-pr9gf]

If Zillow is dropping there prices why are there 10 to 15 offers on the houses for sale. Just buy a Zillow house?

[@thetruthseeker2546]

Why are buying right NOW ???????????? I guess you are like the rest of those 10=15 ......

[@elchucapablas]

About to put an offer in a house in Chicago. I don’t think it has any offers yet lol

[@jamesmerritt3267]

Phoenix is always up and down. How many people go there and stay. A couple years ago there was an article about a new house development and they couldn't sell. Then boom gone. It's a transient city.

[@2chuck]

Finally, my property taxes should be leveling off or even dropping in Atlanta. I was getting annoyed at paying increased taxes on the insane price appreciation that I will never benefit from (because I will never sell). High prices benefit Sellers, but really punish those who only want a reasonable cost of living in a Home they own.

[@erichumphries4662]

Your property taxes arent going anywhere anytime soon. All you can hope for is the increases to slow down. Inflation will continue to skyrocket and municipalities will find a way to increase your taxes. And they will

[@gisela1074]

They only go up Never go down even if there is a market correction.

[@HappyCleanersWA]

Should have done a cash out refi

[@alanheadrick7997]

This feels like 2008. In the beginning certain areas started to drop.

[@sterlingmarshel6299]

nothing like 2008 - that was a mortgage bust -- totally different and it will never drop that much

[@alanheadrick7997]

@Kevin Schmidt I don't remember exactly, I know it seemed to get quiet for about a year. Then it started the downward slide.

[@alanheadrick7997]

@@sterlingmarshel6299 I am kind of generalizing a "bust", with similar results. Something breaks and people bailout of their houses. Now they could create some sort of gimmick maybe 100 year loans to keep people in their homes.

[@tonispears4922]

The homes in ATL are completely overpriced on Zillow by 30 to 50% mark ups. No way a home can go up that fast within 12 months.

[@okthennone]

1-Everyone already relocated 2-Now they don't need homes so home buying declining. Rocket Science!!

[@heleneelong3679]

😀😀😀😂

[@joechibvo8658]

Fact

[@jayf6525]

Demand in my area of Boise still very strong. We're entering the typical seasonal slow time so don't misread the market overall.

[@icalotdonthide2646]

😂😂😂😂🥰🥰

[@mcmc7746]

Watching NW Phoenix closely the last 12 months. Seeing $10k, $20k, $50k, $100k cuts on homes sub $1M these last 2 weeks. The crash has already started, your research is on point, Sir!

[@THEGAMINGHELP101]

Why do people think a 100k price cut on a 800k home is a sign of a crash or correction? Now on sub 600k yes this is huge and not normal but on 800k-1M this is a pretty big cut but it happens often enough to not be so concerned about it. Also a price cut on a home priced to high just means it was priced to high.

[@r987p]

Lol gl! Keep watching these dudes 🤣 you'll still be watching 3 years from now 🤣

[@mcmc7746]

@@THEGAMINGHELP101 it's a sign of the beginning of the crash. The disparity of the price cuts lets you know that people do not know where the market is. Frothy. All homes I was originally referencing were listed between $500 and $800k.

[@BoomerLoveforGenZ]

@@THEGAMINGHELP101 Agreed. I’m seeing a slight softening in $1.5 million homes that were pushing the envelope. Homes in $400k - $750k still getting 10 offers as of last weekend.

[@joegamons]

The only thing declining in Arizona is the inventory. It's all about supply and demand and we have no supply. PERIOD. This is not 2008. Look at the inventory numbers back in 2008. Builders had to much supply and the banks were doing stated income. How do I know. I'm a realtor in AZ.

[@sherevejohnson9422]

A huge correction must happen anytime soon.. what goes up must come down

[@RichardsWorld]

There should be some strict regulations on companies just buying lots and lots of houses for investments only. They drove the prices up for real people wanting to buy a house for themselves.

[@fluke77777]

@@s0ld4u Sadly this is not true even a tinny bit.

[@jessicathomas4672]

Las Vegas is in trouble. Locals cannot afford the high housing prices and high rents.

[@bitemoi]

@Jessie Thomas Live here, agree +100%. Can't believe this is the same place I moved to 15 years ago. Changed for the worse 😒

[@robertg1101]

@@bitemoi I couldn’t agree with you more in regards to people being priced out of Las Vegas and Henderson. The average hotel and casino worker can not afford to buy a home in LV. Rents at up more than 50%. I’m sure there will be staff shortages at the casinos in the very near future if rents do not stabilize or more importantly decrease

[@righteousone1]

@@bitemoi Don't worry, Las Vegas always crashes hard.

[@paulataylor6736]

Same in Nashville and Middle Tennessee area.

[@Cyrus992]

@@paulataylor6736 I live in LV and just visited Nashville!

[@jonv14]

Over here in Washington state it’s ridiculous! Homes worth 300k jumped up to 700k within a year! Rents are through the roof…..I have had some family members move out of the state recently… search for a home worth 300k and you’ll find a piece of land out somewhere in the sticks

[@nohopeequalsnofear3242]

That means their tax bill will double.....lets see how excited they get when tax bill arrives

[@priestesslucy]

The sticks are honestly the best place to be up here. As far away from urban centers as you can handle to commute.

[@amandao9869]

I know. I live in Olympia. I don't think any bubble will burst

[@AR-me9jy]

I'm in the bay area california prices here are still high no price deductions in sight inflated prices being held up by only foreign buyers with zero history here, no locals or should i say american born are buying any property here. I wonder how long these currrent buyers are going to pay these rip off prices for our old dumpy50's and 60's houses! All of my childhood friends have cashed out and left the Bay Area for new states. We will be selling summer of 2022 cant wait!

[@beddozo]

I grew up in the bay and left this year , I also have a few friends that have to stick it out a couple more years for their retirement $$$$$ .... Most are looking at Red states

[@leepuccini3601]

Hi Great Content. Can you spend more time on the Great Lakes area. The Rust Belt. Cities like Cleveland, Pittsburgh, Buffalo, Milwaukee etc. Although it’s not as exciting for content, however it may draw in a wider audience. Thanks, Lee

[@gamerman3331]

I think this would be a great video.

[@RicardoEnriqueGonzalez2017Rega]

Miami is getting more expensive every day, but wages still low!!!

[@davidmoshe3650]

All the dislikes are Developers and Real Estate Agents in Seattle 🤣

[@nitinkalsi]

Market will correct itself if realtors won't brain wash their clients to put 100K over the already inflated list price. Then these realtors use these hyperinflated price for comps. It's just mind boggling how house buyers are still getting into there traps. Recently, I found that there were only 3 offers on the house and the highest offer was 100 K over the list price. It just blows my mind.....

[@rachellebrooke4614]

Yep!

[@01Lenda]

Or Dallas..

[@Windhover551]

Just sold my house in Seattle last week with less than expected price. Yes few buyers there now, a local bought my house

[@dannyfoster8673]

Just listed a home 3bd 2ba 1100 sq ft $390k sold Oct 21 for $435k in Tacoma on the East side! No slowing here! Just listed a 3 bd 2 ba home in Olympia for $410k sold Nov 21 $430k. No slowing there. Just study your local markets and know "why" you are buying. If your "why" is because a realtor is telling you to then that is the wrong reason. If a realtor ever promises a certain amount of appreciation to a buyer then that buyer should run!!

[@kyoung5600]

I wouldn't buy a house in Phoenix to invest even if it was cheap, Arizona is a desert hell hole.

[@ThanhNguyen-ct1ks]

Don’t know why people can invest there for a desert place to live or to rent -nope

[@jonasjung256]

Good keep people out so that inventory goes up and prices can come back down.

[@Kkumar_786]

Data in percentages don’t usually tell the exact story. It would good to consider the actual number than percentages

[@MrOldSchoolSF]

It's on his website

[@dboucher26]

I grew up in Miami, FL and I never plan to live there again. I’ve been in TX since 2007 and that’s what I call home.

[@ssoffshore5111]

I hate to inject politics into the conversation, but there certainly seems to be a correlation between party policies and where folks are migrating to/markets remaining strong!

[@shannondelima3028]

also correlation between party policies and people dying...if we're being honest.

[@Tech-vn1jv]

You have no clue, the financial situation of a high percentage of Americans is mediocre, red and blue. Many of you mor..ons got nothing better to talk about politics, bunch of clowns.

[@shannondelima3028]

@@Tech-vn1jv death is not politics idiot, it's real life....and death :p

[@DDjoooo]

Also a correlation between higher rent (and higher salaries) in the "from" places. Take your high Bay Area salary to a low-price RE location and you will be net ahead. Not everyone is bad at math....

[@haggs2014]

My friend sells houses in Boise, saw a price drop of one of the properties of 52000! Save your cash!

[@thefarmersdaughter8235]

@@blakejohnson3864 lol

[@haggs2014]

@@blakejohnson3864 roughly 450k down to 397k in the nampa area

[@johnoptions9192]

We still have buyers in many places. Invitation Homes, Blackstone, Starwood Capital, and DigitalBridge (formerly Colony Capital).

[@handymack5324]

Their interest in buying up properties will wane in close step with two things; 1. the more interest rate goes up, the less they will buy, 2. When rental values begin to fall due to increasing supply in rental units and units for sale

[@darylllanier2591]

I have nothing else to say. I told many about this in a Zillow thread. They were not the only entity using a faulty algorithm. Many others were doing the same thing. Common sense should have informed buyers and real estate agents/brokers that something is abnormal based on variables such as inflation, labor shortage, faulty statistics on the false shortage of homes, etc. Investors turned to the real estate physical asset for a quick ROI. Yet many real estate agents on the thread stated the price increase would remain steady for years to come. Brokers and agents should be required to also understand macroeconomics.

[@fredricgrethel1717]

They only want to push sales for commissions which is understandable. Caveat Emptor. Buyer beware!

[@frankyhonnolus5528]

You’re right but there is no reason to believe that the price won’t continue to go up either. Only in hindsight maybe.

[@ecwilliams777]

Realitors are some of the worst people in the world

[@frankyhonnolus5528]

@@ecwilliams777 I agree. This is why i don’t think regular people are any less evil than politicians and the riches.

[@darylllanier2591]

@@frankyhonnolus5528 oh there is. Facts and statistics related to the lowest birth rate in 100 years, interest rates likely being increased to stave off inflation, baby boomers still hold a slight majority in home ownership and they're dying off (Covid, etc.) or retiring abroad, etc.

[@mikejarrells431]

Thanks & good job. I agree. Prices are too high. Waiting for them to return to reasonable, but it seems policy makers want to keep this "Goldilocks" economy.

[@rachellebrooke4614]

So well said! I agree wholeheartedly and yet no one is talking about this!

[@dpayne1943]

Many of the people I know working in SV Tech companies are being required to go back to the office in a hybrid mode. Two days in the office, three days remote for most. Given that, Sacramento will most likely see continued positive migration as it is a somewhat reasonable commute to the Bay Area. And Vegas is an easy flight commute for both LA and the Bay Area.

[@r.d.9399]

The low pay of sun belt cities with high cost of living is killing the poor and working class local people. Crime is on the rise rapidly in those places.

[@dougingram7075]

Do you think that the buyers of these homes who make insane money working remotely care about that?

[@michaell9124]

There is no downward trend here in Phoenix with home prices. It’s still very hot. Even California still has rising prices and they’re losing people. Probably renters are the ppl fleeing. It’s nice to see the Texas growth is finally cooling down. I don’t get why anyone would move there. Other places have jobs and are better. I suspect the California people may have buyer’s remorse on Texas and put the word out it’s a snoozefest.

[@triunfototal1]

"Man can live and satisfy his wants only by ceaseless labor; by the ceaseless application of his of his faculties to natural resources. This process is the origin of property. But it is also true that a man may live and satisfy his wants by seizing and consuming the products of the labor of others. This process is the origin of plunder." "...the proper purpose of law is to use the power of its collective force to stop this fatal tendency to plunder instead of work. All the measures of the law should protect property and punish plunder." "Thus it is easy to understand how law, instead of checking injustice, becomes the invincible weapon of injustice. It is easy to understand why the law is used by the legislator to destroy in varying degrees among the rest of the people, their personal independence by slavery, their liberty by oppression, and their property by plunder. This is done for the benefit of the person who makes the law, and in proportion to the power he holds." --1848 "THE LAW" by Claude Frederic Bastiat

[@ddlynndesigns]

I havev learned: when Policy holders tell me what's in the best interest of society as a whole, it is only in the best interest of those making the rules!

[@danielgriffin8132]

Why would anyone want to be a landlord now days They literally have no control over the property anymore 😒.

[@nontraditionaltech2073]

I think that if you are in a steady market with a need for rental homes, being a landlord would probably be fine. I had a rental for 8 years with good steady inhabitants. I feel good about working towards a new rental in my current market.

[@danielgriffin8132]

@@nontraditionaltech2073 good luck

[@joelzivic5301]

Part of the plan..make it impossible for the average person to do this..leaving big agencies and corporations the only players..

[@jjohnson8977]

Colorado still nuts some houses up double in one year most about 30% in one year

[@scotttaylor3334]

Doesn't Zillow's admission that they can't predict home prices, negate their entire business model? How are we able to trust their vaunted "zestimate", when they have essentially admitted it does not work? I think Zillow's decision to ramp up ibuying during a worldwide pandemic when people have been scrambling for housing, was morally bankrupt, and I hope the company follows suit and goes bankrupt as well.

[@scotttaylor3334]

@@spitfiremk9c instead of being condescending, why don't you give us your take on what happened?

[@brianlarson4969]

This crash is coming sooner than expected. There will be more major adjustments coming...thanks for the report !

[@righteousone1]

It's already crashing. 1st or 2nd quarter might see the floor cave in.

[@brianlarson4969]

@@righteousone1 True, some markets will fair well, while most others will see 40% or higher losses. When Covid 2.0 hits every where will go down the drain. Stock Markets will crash as well. Capitalism VS Fascism !

[@RLomoterenge]

@@righteousone1 Fannie Mae and Freddie Mac are going to increase the loan ceiling. That means prices are going to go higher. If they do raise it, prices will go even higher as a consequence

[@kshitiz06]

By Dallas, I presume you mean surrounding areas as well - Plano, Frisco, etc. and since I live there, I can assure you that the demand has NOT reduced. In a shit hole of a place like Wylie (north east of Dallas and a place with no life), houses are going 100k above asking price. So not sure where all this data is being collected from, but it seems detached from reality (atleast for Dallas). Demands are sky high as of Nov end of 2021. And it keeps going up. May/June 2021 was crazy, September 2021 market was crazier, and November is even crazier. So it’s only getting worse while you claim demand is decreasing.

[@yokemonkey]

My 2 year old house in Frisco has more than doubled in price on the builders website since I bought it.

[@kshitiz06]

@@yokemonkey yup. Agreed. And it keeps going up. And here “experts” are claiming demand is going down 🧐

[@thetruthseeker2546]

There is another angle too for inflated prices ===> Hedge Funds buying 100s of homes in selected cities.

[@AB-fq4mr]

Nice to see Atlanta on here, it's ridiculous. My area, homes were $220,000 in 2018. Now those same homes are $350,000. There was one hedge fund based out of Amsterdam (yes, Holland) that was bidding $30,000 on any house that was 15 years old or younger. It didn't matter what condition the home was in, what street it was on - right on cue, as if an algorithm said so, you could bet they bid $30,000 over asking. The "computer program" stopped buying those houses 2 months ago, and sure enough, newer homes are now sitting on the market longer. No one (= human) in their right mind is buying a house in Atlanta now. We about to have an AI-induced recession. That's why no one knows if we're entering inflation or deflation. We're trying to use a human brain to explain algorithmic decisions. Algorithms only know trends and assume inflation will run forever, but humans only have so much money to go around and are behaving towards deflation.

[@darylllanier2591]

I have nothing else to say. I told many about this in a Zillow thread. They were not the only entity using a faulty algorithm. Many others were doing the same thing. Common sense should have informed buyers and real estate agents/brokers that something is abnormal based on variables such as inflation, labor shortage, faulty statistics on the false shortage of homes, etc. Investors turned to the real estate physical asset for a quick ROI.

[@maximo6037]

Because low yields have investors worldwide trying to get a return on their $$

[@Mr813Fla]

Sound similar to Zillow, I believe the spike in prices and supply issues were because of big corporations buying properties(speculating). The people that move from a New York or Cali and brought a home in a Ga or Tx better stay putting, if they up and decided man Southern life isn't for them and try to sell their home, they maybe selling at a loss especially when you include all the fee's and commission that comes with it.

[@RLomoterenge]

Prices have been going higher, though

[@valstutoo7287]

I just feel very uneasy about purchasing a home right now.. Interest rates are going to go up and that is going to completely alter perceptions of current valuations. In 05-08 the US median home price increased to 217,000 at a peak (286,000 adjusted for inflation)....interest rates were between 5.25 and 6.75 there was some wiggle room for incomes. Most people make about the same as they did in 05...maybe 8% more maybe.... wages have not increased at the rate of inflation....people just work longer hours, have two people working to try to come out at a median household income of whatever your state is.... and quite frankly are burned out completely.

[@difigfs]

You can always refi You can't change your selling price

[@jonbohn4655]

@@difigfs I say this ALL the time! Couldn’t agree with you more

[@kevincoleman9761]

Utah is still booming. Thousands of new jobs here. They just announced we are going to be an inland port for Los Angeles. They will build large yard and store and ship containers from here. More good jobs.

[@crashx7]

That because of Hispanics moving into the state for the last few years.

[@jamiestein1550]

Utah is going downhill so fast! Our state has been overrun by west coasters and our politicians are now in the pockets of CA tech CEOs who are attempting to control not only our economy, but also our social/cultural landscape as well. Something like half of Utah’s wage earners currently cannot afford a home but somehow developers just keep building, building, building and prices are still sky high. Utahns are literally being priced out of their own state, and a lot of people I know (including myself) are hesitant to sell because they don’t know where they would go if they did- too expensive to move up, even with ridiculous amounts of equity. Everyone is just desperately waiting for it all to stop, but there seems to be no end in sight.😞

[@penaeus1234]

Buyer beware. Do your homework and talk to realtors and loan officers to get the first hand information.

[@MissEdvic]

There is no “reverse” in Phoenix , home prices are still going up, buyers over pay on the average up to 10k over asking price .

[@nickm4662]

I agree but he made a good point in the video in regards to the locals. Many people in the Phoenix area don’t make a lot of money. So the insane price growth is not sustainable in the long run. Overall I still feel pretty good about this area but we’ll see what happens.

[@laurieb2296]

Grateful we bought our home 20 years ago in Orlando, Florida. It was a buyers market. 3/2 1800 sq for $168,000

[@jeffgilligan2004]

An interesting measure generally would be how many building permits are not being used because of supply and labor shortages, and how that might affect existing home prices.

[@joegresells2161]

That would be an interesting number.

[@ReventureConsulting]

259k through October 2021 according to US Census Bureau. Highest level since 230k in 2005.

[@joegresells2161]

@@ReventureConsulting Thanks for the info!

[@priceless55]

Zillow not buying anymore will make big difference too.

[@maryhenri3254]

As life returns to normal? Where is this happening?

[@asharsyed]

Not sure. Moved to Dallas and haven't been able to buy a house yet. Last week put an offer of $565K on a house listed at $510K. Lost it. The house possibly sold for ~$585K. Insanity prevails here, no crash, no decline. I don't see that on the ground!

[@josh124c]

I got prime land outside PHX several years ago... Everybody wants to leave CommieFornia and my property purchase has made me a millionaire

[@jeremyreinhold3620]

Oh man. Its almost like we're in the holiday season and no one is buying or selling homes.

[@Ian-mv4qq]

Hmmm houses in DC suburb area seem to be bought up pretty consistently. I did see the price cuts up to 20% off listed prices, but the overall listed prices are still overall higher than let's say 1-2 years ago (pre covid). I was and still am waiting for home prices to decline significantly, but it doesn't seem to be happening (at least not as much as I was expecting). The average annual price increase for the last few months are 10%. Has been consistent and not declining. What am I missing?

[@brandonj3182]

So if you are in say Atlanta, is it best to buy a home now or wait 9 to 12 month's? When is the best time to buy a home based on this data in Atlanta?

[@foruvasanth]

Waiting for Dallas Correction

[@bletchdroshek5984]

Waiting for a Texas correction

[@apolloconsulting]

I’m in scottsdale (Phoenix suburb) shopping for a $1.5 million house. Anything that is upgraded sells within 48 hours. Homes that aren’t upgraded don’t sell as fast like they did a couple of months ago. Sucks shopping for a home in this market right now still.

[@justinherrmannrealtor2916]

Are you working with a Realtor?

[@theshimmerlifestyle]

It’s because school has started! Watch next summer!

[@mastermouaable]

Sacramento is a high buyers market because all the Bay Area residents moving into the valley. It drives up the market causing a bidding war. Old run down house selling at $350,000 close to $500,000 list. There’s nothing spectacular about the homes. A decent homes that you would want to purchase is $700,000 to $100,000,000. I hope the market recorrects itself.

[@stayforever82]

2015: crash is coming 2020: crash is coming 2025: crash is coming (skeleton on a bench.jpg)

[@RealCptHammonds]

The decline is the winter slowdown that happens every year because no one likes moving in the cold. Those that moved will be looking to upgrade this summer.

[@jeffreydeuitch2146]

The big reason here in Florida we have so much in migration is personal freedoms. No lockdowns, mask or vax mandates and a gov who fights to keep it that way. Dont have to talk to very many folks to see this. Wont prevent a RE downturn if a big trend gets rolling, but certainly buffers. Certainly housing bubble taking hold, but sales and prices holding steady at moment. Future uncertain.

[@Leti_10]

A lot of my family moved to fl, they love the weather and the freedom, they were tired of winter in ny and mandates.

[@rachellebrooke4614]

Yep

[@righteousone1]

@@Leti_10 They will also love the constant flooding and hurricanes.

[@oceanview5545]

That's exactly why we didn't go to Florida, NO MASKS, low # of VACCINATED. , high # of HOSPITALIZATIONS when places like New York the Covid/Delta rate is low. So we spent our money in N. Y. DeSantis is nuts!!

[@difigfs]

Wages can't keep up. More than a quarter of the population is 65 and older.....fixed income. Only so many new jobs. There isn't enough manufacturing, tech....construction jobs outside of the housing... the New Yorkers who over inflated the market by 100K over appraisals by paying cash is going to BURST.

[@gtcam723]

Seattle’s policies have been negatively impacting the quality of life

[@priestesslucy]

There's good reason so much of the Seattle Workforce commutes in. Seattle sucks

[@gtcam723]

@@priestesslucy you aren’t kidding lol

[@michaelmiddleton3311]

Seattle is a sh*thole!!!

[@TheRealLivingWithLisa]

Not seeing it in my market... I'm in Florida and the phone is ringing daily...

[@stevef6827]

This data is about people looking and searching. What about actual purchases. I believe actual sales and purchases would be more valid data

[@ReventureConsulting]

Thanks for the comment, Steve! That would be great data to have. Unfortunately it's not readily available.

[@life_of_riley88]

The big question we need to ask is: *Will this "growth" continue?* 2 straight years of 20%+ price increases. . .is that *really* something we expect to continue? Have wages increased by 40%? 🤔

[@u-know-this]

I wont continue as stimulus is over

[@Daoistify]

Watch out. Zillow is unloading their huge inventory. Also, Blackrock has slowed down with their housing binge. Interest rates will continue to inch up. Winter is coming.

[@JomerTB]

He did an entire video on this already. Look it up.

[@nj-bz8pv]

Denver has become a dump! I was downtown a week ago and I didn’t even recognize it. Ghost town with bums everywhere.

[@michaelmiddleton3311]

Let's go Bannon!!!!!

[@WatchfulHunter]

2/5 of all rich people from NY and CA are moving to Florida. While millions of poor are stuck in place on the streets with no representation or media coverage.

[@pizza603]

Hey Nick I just left Tacoma after 1.5 years, which is counted in the Seattle metro area I believe. 40% increase in RE prices, increased homelessness and camping, and most importantly draconian mask/vaxx card mandates. I don’t get it. It’s worse in Seattle. In King County you have to show your vaxx card to get a coffee at SBUX/ drink at bar for minimum the next 6 months. It’s a police state. Shocked the bubble hasn’t popped already.

[@RealLifeFinance]

I live there as well. Shitty houses for $450k with prison feel. It sucks

[@jarvinator94]

The migration trends with Denver and Seattle is surprising.

[@jessicabixler1658]

Is denver moving to places near like castle Rock, suburbs or Colorado Springs? I live in the latter and I think A LOT of the price increases were from big corporate buyers

[@DriftmanX]

Those investors deserve every bit of financial loss that’s coming their way.

[@billycooper8729]

@@DriftmanX touché

[@davejarvis7522]

I from Denver,. You talk about expensive!! WOW. Something gotta change,!!

[@noeminoemi1350]

isn't that seasonal, sales in winter is usually slow but picks up in the spring.

[@raphaelkhan8704]

Correct people tend not to move around the holidays q4 is always slower.

[@_m_K_.]

This data is flawed in that people could be looking for investment properties and not moving. How do they determine serious buyers, through surveys?

[@evd-1]

How could you dislike this factual video lol. Great video thanks as always

[@davipervenom9151]

I’m hoping the migration to Texas stops or at least slow down. We’ve had enough of Californians and New Yorkers moving to the San Antonio area. They’re driving home prices up.

[@carolinewilhite6362]

Houses under contract in Tampa is 251 less this week than last week. Before this week, houses under contract went up weekly.

[@VolleyballAddict521]

Isn’t it typically slower in the winter ?

[@prayonkreutz2398]

When Population increases, home sales increase & rentals & rent prices skyrocket..... TAXES GO UP!!! Taxes aren't cylindrical, they never go back down.

[@rachegreenrg]

US population is shrinking and aging.

[@mikejh4353]

You need to be clear on "Dallas" Most companies like Toyota, etc. are moving north of Dallas like Frisco/Plano This is in the Dallas area but no crime and growing rapidly so...Please do a deeper dive

[@amir-alavi]

I have to disagree. From personal experience, Atlanta market has never been hotter than the past couple of months. I was outbid on a home just a couple of days ago as it had 18 other offers. I was going $25k over the asking price...

[@faksibey8906]

More data on Los Angeles. More data rather than five past data points in the past five months like 20 years or more on median (50 percentile) up until today. Long term “common tendency” and today.

[@ReventureConsulting]

Thanks for the comment, Faksi! What's interesting is the LA is a very volatile housing market historically. Big crash from 1990-96. Big crash from 2007-12. Another around the corner?

[@cherylcampbell7495]

No inventory for people to buy overpriced homes in Phoenix.

[@bigjeep2195]

WTF are you talking about, Phx currently has tons of inventory?

[@righteousone1]

Trump is a loser, Biden is your president. Cope.

[@GunGlutton]

@@righteousone1 Biden is doing a horrible job in case you haven’t noticed. We were all doing way better under trump

[@righteousone1]

@@GunGlutton Economy started tanking while the orangutan was still in office. Facts are difficult for the "Let's Go Brandon" crowd.

[@Cryo837]

This data is based on migration interest, not real migration. Better source of migration data would be moving companies and rental truck companies. They know the source and destination of each move/vehicle/trailer. And it is REAL data based on REAL moves.

[@betruetoyourself7162]

Who knew I would be messing up the migration data by searching for 10 homes in one location? Half the time, I just look up random locations

[@JUANCABRERA-bf3jn]

I don’t see how a drop in number of searches in a specific area (like Dallas) can be equated with a drop in “demand”. Demand is people making offers, not just “looking around” in front of a computer.

[@aclem8246]

People don't move or relocate in winter for the most part. That happens in spring and summer.

[@eugene8524]

How about Miami? Thanks!

[@Faithfulyme]

Miami is also experiencing a slow down, more days on market and a lot of price reductions. Signs of a shifting market, however still a sellers market at the moment!

[@tuft7775]

Great content Nick.....probably the best details on utube for data on the housing market.! Appreciate your work!

[@kevinmoore.7426]

Why own rental prop if the gov says no pay

[@shturmovik3033]

Important video. Good data. If you are moving anywhere you should spend your time watching.

[@constancegomez351]

If you can buy a 🏠 in Florida especially south Florida...more power to you..one of the highest priced houses in the united states

[@turtl97]

Lol I’m considered a “serious buyer” because I look at houses on my breaks to kill time. Nice algorithm for sure.

[@AJourneyOfYourSoul]

The only thing that really matters is sold prices.

[@localsonly-ju6fc]

alot of people on the toilet tapped a heart with their finger

[@user-er4nt4dp6q]

@@localsonly-ju6fc 😂

[@cainmarko1234]

Interesting that the cities people are leaving are the ones that are poorly governed by one party.

[@DDjoooo]

The cities with the highest per-capita income. Those "poorly" governed cities, right?

[@tomsardo6984]

Please consider the size of the market, perhaps a percentage of the available homes.

[@WildkatPhoto]

Wait so Redfin numbers are not based on actual moes or actual sales but just searches? That's not solid data. I got counted for Sacramento during the period you are talking about and I dont plan to move anywhere for 6 years. I just happened to need to search to help my mom who lives in Sacramento. Unless Redfin can correlate those searches to sales they are just searches. Redfin represents about 1% of the US market. Extrapolating data from searches from 1% of the market is a very very very bad idea. You are stating for a fact that people are leaving these places but they may not be moving at all. They are just looking at homes in other places. This is a very deceptive video.

[@luvit5150]

Ok so crash in the cities... I do not feel it will crash so much in smaller towns & cities. And may even increase in the rural areas.

[@craigpalm9552]

would love to see Orange County CA

[@dougl4127]

I live in Scottsdale in Greater Phoenix and homes in my area are selling within a day or two for top dollar. The wait list to get a new home start in many communities in N. Scottsdale is 1 year. The demand is much higher than homes available.

[@tstltstl]

But Nick said that buyers have DISAPPEARED in Phoenix! Says so right in the title! 😉 Just had a friend finally get a house under contract last week after getting outbid on two others. Is it slowing in Phoenix? Definitely, which is good. Will there be some softening in prices? Eventually. Will there be a full blown crash? Not likely.

[@dougl4127]

@@tstltstl The reality is that Greater Phoenix is still really cheap in comparison to California. Also, the property taxes are a deal with most people paying between $1250-$2500 annually. Niche areas like Scottsdale, Paradise Valley, Arcadia, N. Phoenix, Fountain Hills etc…will continue to flourish because of huge demand and limited supply.

[@davegibbs6592]

Dallas, Phoenix, Atlanta? Couldn't pay me to live there.