Housing Market Crash Could Be BRUTAL On NEW Homeowners

I hope this video brought you some clarity and helps you make better decisions regarding your future home. If you have any questions about this video or you would like to hire me to be your agent in Phoenix, AZ, don't hesitate to email me at [e-mail]!
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All information in this video is strictly for educational and entertainment purposes intended to help people get started on their learning journey. Please talk to your local real estate agent, lender, or financial advisor to verify any information in this video. app.termly.io/document/discla...
#realestate #firsttimehomebuyer #javiervidana

[@WholeLottaRandoms]

Homes need to not be a investment. That's what has caused all the housing messes we have gone through. Just remember housing is. Something we need for strong middle class.

[@gravity-zero2917]

I'm considered middle class and guilty for buy and sell for the past 10 years. Can't help it since I was making good profit that I could never save, u feel me.

[@redtiger7268]

Yes and no. Without investment in housing there would be no housing. Builders are a form of investors and thus need incentive (profit) to build. Landlords also need incentive to provide people a place to live that are not able to afford to own. The problem arises that we have allowed large scale investors into the market which has caused major price disruptions and runaway price inflation. If landlords were just your small "mom and pop" (example kids inherited parents house and turned into into a rental) rent rates would be lower as the profit incentive would be less.

[@WholeLottaRandoms]

@@redtiger7268 Sounds like you and the other reply value profit which is part of greed. Do not let greed for profit run your lifes. I work in home construction building as a foreman and trust me greed for profit is bad news for future home owners

[@katydid2877]

What would “no profit” look like? If I buy my house and want to sell it 15 years later and the market has gone down, I can’t sell it, if the market has increased I will make a profit. How can profit and loss be controlled without government control?@@WholeLottaRandoms

[@redtiger7268]

@@WholeLottaRandoms Greed and profit are not the same thing. If I build a bird house and it costs me $10 in materials and takes me an hour to build than I sell it for $20 I have $10 profit. Thus valuing my time at $10 an hour. Greed if finding a way to convivence someone to over pay for an item thus more in my pocket or in the example above using cheaper materials but claiming the same quality. Without profit motive NOTHING would be done. Think of it this way, you are selling your time as a foreman for profit. Would you be willing to work 100% for free?

[@ChristopherAbelman]

This Housing crisis collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.

[@PennyBergeron-os4ch]

Stocks is a way to hedge against inflation. Most notably amidst recession, investors need to understand where and how to allocate funds to hedge against inflation and still make profits.

[@FinnBraylon]

I paid up all my debt in 2yrs while working with an asset manager. I’m 50 and my husband 54 we are both retired with over $3 million in net worth and no debts. We got to realize that the secret to financial freedom is making better investments.

[@HildaBennet]

That is so amazing, I’m trying to get onto the ladder at 40. I wish at 55 I will be testifying to similar success. How can I reach this manager of yours? because I'm seeking for a more effective approach on my savings

[@FinnBraylon]

Sonya Lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@HildaBennet]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@lawerencemiller9720]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[@alexyoung3126]

Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.

[@bobbymainz1160]

Absolutely! With guidance from a seasoned coach, I adjusted my investment strategy. Beginning with $321k, I've successfully grown my portfolio to over $750k through investments in stocks, ETFs, and bonds. Regarding housing prices, I believe they won't see a significant decline until there's an increase in the availability of houses.

[@johnlennon232]

Fantastic! That sounds wonderful. How can I get in touch with your financial supervisor?

[@bobbymainz1160]

Natalie Marie Tuttle is among the most accomplished portfolio managers in the industry, widely acknowledged for her outstanding work. I highly recommend taking a closer look at her impressive portfolio.

[@johnlennon232]

thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@averagedonnie7858]

The thing is ppl need to stop looking at homes as investment properties and more like the thing they are...Homes! If you just purchased with no plans of moving anytime soon you can wait out the market.

[@dotcom721]

Actually people don’t have to do anything because everyone is sitting on massive equity

[@hangguy209]

Bingo!

[@tripleuno5900]

@@dotcom721the videos about new homeowners

[@0xBULLgogi]

Non monetary assets have become a savings vehicle because our society has not had a hard monetary asset to save their money in. All non monetary assets will fall to their marginal value based on utility as we enter hyperbitcoinization.

[@snowshoe_leprechaun]

Sorry, this logic is flawed. The statement is valid, but look at it from a monthly payment perspective. The typical middle-class individual/family (if that even exists these days) isn't looking to make a killing on their home purchase. They do view it as a HOME. In this instance, why would they buy a home now and pay 3k$+/month? Once the "artificial increase", in Javi's words, finally comes to an end, the same middle-class individual/family now has a monthly cost of say, 2.1k$. At 900$ savings, that same middle-class individual/family can take a luxury getaway weekend every month. I'm just saying...

[@hersdera]

For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.

[@Derawhitney]

Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@nicolasbenson009]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@SandraDave.]

Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?

[@nicolasbenson009]

My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@EdwinSolomon-zs3nz]

Thank you for this tip , I must say, Margaret appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, educational background, and qualifications, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

[@CatherineWilson8]

I wonder if people that experienced the 2008 crash had it easier because this market conditions are driving me to insanity, my portfolio has lost over $27000 this month. alone my profits are tanking and I'm don't see my retirement turning out well when I can't even grow my stagnant reserve.

[@LukeMcfarlane5]

Even in this whirlwind, there are chances to be had, thus an increase in volatility is not always a bad thing. You have an opportunity to rebalance thanks to volatility. In order to help you diversify your portfolio, you must hire a professional

[@KevinClarke9]

true, A lot of folks downplay the role of a professional until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for license advisors and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. $850k so far.

[@ritalorrigan]

How can I contact your Asset-coach as my portfolio is dwindling?

[@KevinClarke9]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Carol Vivian Constable turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@ritalorrigan]

Thank you for the lead. I searched her up, and I have sent her an email via her website. I hope she gets back to me soon.

[@micheal_mills]

I foresaw the housing crisis and sold my property. I then put it in the market, about $200,000 of it. That was late February. I've lost more than 40% of my portfolio's value. It makes me really sad. How can I turn this situation around?

[@robert-1miller]

This is really sad. If you're not who understands strategies to invest in the market, why not seek a financial advisor to help you grow your portfolio?

[@donna_martins]

Having an investment advisor is the best way to go about the stock market right now. I’ve been in touch with an Advsr for a while now mostly and I made over 95% profit within a short time.

[@Trevor_Morrow_LTD]

That's impressive! I could really use the expertise of your advisor. Could you recommend who you work with, please?

[@donna_martins]

"Natalie Noel burns " maintains an online presence. Just make a simple search for her name online.

[@Trevor_Morrow_LTD]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@SimplyMoe08]

I’m so grateful I purchased my home in 2014 at 24 years old. My interest rate is 4% and my monthly payment is $1406.00 3 room/ 2.5 bath. Todays rates are INSANE

[@dennyfie]

Rates are just normalize, we were artificialy low for way too long. A lot of people just think it's normal.

[@DeportillegalAliens]

It's not just the rates it's the cost of a house worth living as well

[@Riggsnic_co]

I think a housing crash will happen because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for the future and the cost of living rising at a high speed.

[@audeywolsh]

For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@usieey]

If you are new to the market, I recommend seeking professional assistance. The most effective approach to creating a well-organized portfolio is to begin with a professional who is knowledgeable about the turbulent yet profitable market.

[@maga_zineng7810]

Don't depend your market assessments and decisions on hearsay and rumors; I did it in 2020 and ended up with worthless market holdings. Before I started noticing any notable improvements in my portfolio, and I had to completely rebuild it. I've been using the same advisor ever then, and in just two years I've scaled up to $876k. Depending on where you look, a bullish or down market might both produce good profits.

[@CraigChap_6898]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@maga_zineng7810]

Credits to 'Carol Vivian Constable' she has a web presence, so you can simply

[@LupeBaptista]

People will have to accept the possibility that we won't ever return to 5%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

[@M.Morgan]

Inflation is definitely making things worse, back in the early '90s when I purchased my first home in Miami to live, mortgage rates of 8% - 9% and 9% - 10% were typical.

[@heatherholdings]

@@M.Morgan Home prices will need to fall by at least 40% before the market normalizes. If you are at cross roads to buy a house or not, my honest opinion is to seek guidance from a well-experienced advisor to help diversify your investment portfolio from time to time, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in savings so far.

[@heatherholdings]

@Johnny-se8hk > My investment advisor is Julie Anne Hippe, she's verifiable and I'm very sure you can find info about her on the internet, her qualifications speak for itself.

[@benjaminfernandez104]

@@heatherholdingsjulie smells like pee

[@irongeek4182]

@healthholdings SCAMMER ALERT!!!

[@DavidCovington-st2id]

In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?

[@mikey43221]

The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.

[@AllenNichol]

I agree. Based on personal experience working with an investment advisor, I currently have $985k in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable.

[@SteveDutton-v]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?

[@AllenNichol]

There are several independent advisors you could research. However, I have been working with “Vivian Carol Gioia” for almost four years, and we get along great. If she appeals to your judgement, you could continue with her. I support her.

[@SteveDutton-v]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@PatrickLloyd-]

I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

[@jessy830]

I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.

[@hankmarks69]

The housing market has always had its ups and downs, but it's true that this time feels different. Having a portfolio manager will save you a lot in the market , My portfolio currently has 200% increase last couple of months with the help of my advisor.

[@PhilipDunk]

Glad to have stumbled on this conversation. Please can you leave the info of your investment advisor here? I’m in dire need for one.

[@hankmarks69]

There are many financial coaches who excel in their profession, but for the time being, I employ “Vivian Carol Gioia” because I adore her methods. You can make research and find out more.

[@PhilipDunk]

I set up a call with her and am really grateful that I did. I copied and entered her name into my browser and it came up in the top search results. I've seen comments about advisers but not one who looks this amazing.

[@BiancaSherly]

In the early 1990s, when I bought my first home in Miami to live in, mortgage rates were quite high, ranging from 8% to 10%. It's likely that we may never return to the 3% rates we've seen. If sellers need to sell, it might result in lower home prices and reduced valuations. I'm sure many share similar concerns.

[@RogerWatkinss]

It's likely to worsen. Affordable housing will become even less accessible. I advise taking action promptly because today's prices will seem like bargains in the future. Until the Fed takes more stringent measures, inflation may lead to widespread hysteria. You can't partially remove the band-aid.

[@spacecadet6]

Home prices will drop in due course. For now, consider moving your funds out of the housing market and into financial markets or gold. With soaring mortgage rates, a recession, and stricter mortgage guidelines, prices need to fall significantly, likely by 40% or more, to stabilize the market. If you're unsure about your next steps, seek advice from an independent advisor experienced in financial markets.

[@noah-greene]

@@spacecadet6 Please tell me how can I connect to your advisor

[@spacecadet6]

Sure, My Fin advisor that guides me is “Camille Alicia Garcia” and she's renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.

[@elease.eichersli]

I just searched for her online, and I'm genuinely impressed with her qualifications. I've already contacted her

[@Sleepy731]

They been predicting a market crash “next year” for the past 10 years 😂 😅

[@brnjones9]

NO LIES TOLD 🙌🏾 I got in just under 3% before everything really blew up. I will sell everything I own before I think about moving to keep this house. Thankfully that % made it affordable for a very long time. I can't imagine it being nearly triple what I pay now 😬 Shout to Javier, he helped me find my Reaktor 👍

[@brnjones9]

And listen to him guys. Don't buy over 30% of your income. Cause when those taxes change, you want to be able go with that flow.

[@smittdog1965]

I get my home at 3% also back in 2016…and will not leave until all this craziness is over…

[@mikemorgan8646]

What's your equity position? Did you overpay? Or does nobody wanna touch that with a 10 ft pole? Because that's the feeling In gettin' here.

[@brnjones9]

@mikemorgan8646 I paid $2k over. Value went up a little. Also I am in it for the long haul not to flip. If you think the value of your home will stay the same, you're mistaken. It ebbs and flows as the market does. But I stayed away from high tax areas and overly priced stuff. You must take all this into consideration when looking at buying. Nothing stays exactly the same. It was worth it to me.

[@mr.lockwood1424]

Let the f***ing house market drop. The prices are insane. Something must be done about it.

[@captainviper3888]

Buy a house to live within reasonable financial responsibility so that when the market crashes you can buy another one.

[@vcolozzi]

Our area is still pretty hot right now. My neighbors’ home was under contract in one week. We live in a desirable suburb and a lot of people are still trying to move here. We fought so hard to get our home in 2021 and I’m so thankful we got it when we did because that 2.7% interest rate is amazing. So far, although we overpaid by 50k, our home is still worth more than what we paid for it years ago. We are here for the long haul!

[@charliejohnson2441]

Facts and situations are laid out perfectly. I love that you did the time travel to really show how it's gonna look like in the future. This is so helpful for our future decisions javi. This is my favorite video so far. Cool editing and infos are very essential.

[@thecedars0612]

I think the problem stems from getting approved for a mortgage based on your gross income rather than your net income. Because my gross income is about $8100/month but after taxes, insurance and retirement contributions I’m left with ~ $5k which is a considerable difference

[@Addis-ig2in]

😂😂😂😂 seriously lenders has been approved like 2006,2007 in 2021, 2022 2023.. how investigate. If the lender stick with the mortgage rules. This mess not going to happen.

[@hwoodist]

Living below my means allowed me to buy my current home during the last downturn while keeping my first home and rent it out. Downturns can offer opportunities.

[@quixomega]

As long as you can retain your job.

[@last9up]

Thank you for this. I've been thinking of buying above the 30% income rule and kept thinking it was a bad idea. This really helped. Going to keep saving money and getting ready. It's not a race.

[@kilnntime2953]

Always you have to look at the market, I believe soon it will be dropping again like a rock, too many people over paid in bidding wars to buy houses and now adding to that the interest rates, won't be long and we will be looking at thousands of forclosures hitting the court house steps again. Interest rates in the 70's and 80's were as high as 14% , so at 7 or 8 % is not as bad as it can get. I bought my first house in the 80's at 14% , yes it sucked , but eventually the rates went down to this horrible 8% and we refinanced , next house we bought was at 7% then we refinanced it at 5% . The home we have now was 6% and we refinanced it down to 3% and kept making the same payments and it is now paid off. Hang in there, better days will come back, if you own stay pat, if you don't bank as much as possible or look for that bargain in the rough and make it beautiful.

[@ryanwilliams989]

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

[@maggysterling33254]

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

[@maryHenokNft]

The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.

[@BiancaSherly-qt6sb]

@@maryHenokNft My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

[@maryHenokNft]

Do your due diligence and opt for one that has tactics to help your portfolio continue consistent and steady growth. *Mary Onita Wier* is accountable for the success of my portfolio, and I believe she has the qualifications and expertise to accomplish your objectives.

[@TheresaAnderson-kf5xw]

Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.

[@megafan0258]

Renting is more or equal to a mortgage in my area of Ohio. I bought a $135,000 house on a $55,000 a year income, my payments are $1200. We also have a 2.5 month old. Wish me luck!

[@edwardrhoads7283]

That is the good thing about Ohio. Very affordable houses. I hope you went with the 15 year. It looks like you did. Once you get that paid off even with a 55k income you will kill it net worth wise.

[@KatSolovei]

May I ask where in Ohio? What about schools and hospitals nearby? Do you have any access to parks or other little enjoyable things to do? I`m in NC, near Raleigh. And the prices here are ridiculous.

[@edwardrhoads7283]

@@KatSolovei Most of the midwest the prices are pretty low. Here in Indiana there used to be a lot of areas you could buy a house for $50 per sq foot. Now that is up to the $100-125 range for most areas and the highest is about $200 per square foot. Still pretty affordable. I think Ohio is a little behind Indiana price wise though. Most of the state of Ohio will be in the $75-125 per square foot range.

[@megafan0258]

@edwardrhoads7283 I wish that were the figures for a 15 year, I had to go with FHA 30 year @ 7.625% but if I can swing the extra $160 a month I could potentially pay it off in 15 years.

[@megafan0258]

@Catsolovei Montgomery County in a rural village with approximately 3500 residents. We are within 30 minutes of most big box stores and other accommodations. There isn't much to do here, but I'm a home body anyway and have many many projects.

[@LuisGonzalez-ui7ow]

Oh, I love it! Great video! It’s like you’re in my brain, and you knew exactly what I was thinking. Then made a video about it. Thank you for being who you are and thank you for your contact. It was incredibly helpful before during and after purchasing my home.

[@melowely]

We bought spring 2022 with a 5% rate (it had just started going up). Flash forward to today, a house on our street just went up for sale, same floor plan listed at $75k less than what we paid. Albeit with a higher rate, so a higher monthly payment nonetheless. That to say…yeah it always feels a little oof to see them coming down. 😬 But we’re here for a long haul & we knew it going in. It would have been nice to have those historic low rates, but I’m glad we have a rate we can live with.

[@melowely]

Also for more context, we absolutely needed to move. It was the right time in our lives to buy, so it is what it is. Timing could have been better, but it could have been worse.

[@kilnntime2953]

Don't fear, you house value is only on paper and it will go back up, We watched our house lose 200k in value the last crash, but we had to live someplace and we could make these payments, Forward 15 yrs this house and while its is not at its peak value, it is still worth according to the websites 3-4x what we paid in 2004 well before the crash and now well past it. Land will never go to zero and you house may go down on paper but a year or two later recover it all and add to the value. In 2017 we bought a beach house , I have always watched to see what the homes around us were selling for at the beach, well homes less that half the size of our are selling for double what we paid, ones the same size are selling for 4x what we paid. So we have no worries about value since we have no plans to sell and our interest rate is under 3%.

[@nilaras]

Which city is this?

[@kilnntime2953]

@@nilaras Surf City NC

[@edwardrhoads7283]

Crazy to see that even though you paid 75k more you will ultimately pay less overall money on your house than what is paid on the other house.

[@kimville]

FACTS. FACTS. FACTS. House market is very complicated rn honestly. It's becoming everybody's nightmare. Thank yuo for this video, Javier. We need these kinds of info in the market. Very helpful !

[@josecuervo3351]

This is the most honest video I have seen on the topic. No BS just straight talk.

[@heneryjsbrcr]

people be saying this is click bait!? come on , watch the whole damn video and you'll realize it makes so much sense. nice video javier. probably the most informative and intriguing video you have.

[@johnbID]

A brick, mortar, stick house is just that…a HOUSE…I get sick of hearing them referred to as “homes.” One’s home is where loved ones are regardless of whether it’s a house, an apartment, a hotel, or a room in a boarding house…a structure is just a thing that will eventually crumble that temporarily may be a place where one can make a home.

[@colettespencer3357]

Exactly. Love makes a house a home.

[@TheSintec]

I literally almost purchased that house in your video thumbnail haha! It's located in Hastings Farms. Great work as always!

[@rathelmmc3194]

You're absolutely correct. The bank will work with you instead of foreclosing... that is as long as there's liquidity in the banking system. Banks balance sheets are not looking good with the fed fund rate at 5%. A lot of regional banks are just like SVB with treasury bills being their tier 1 asset of choice. Well treasury bills bought 1 year ago are more or less worthless. There's also the CMBS issue in the pipeline right now. Commercial doesn't have 30 year fixed rate mortgages. We're starting to see lending standards tighten up. If the fed continues to QT don't expect to be bailed out in any housing downturn. Interesting times in the financial markets, again. EDIT: I want to add something else too. Something to remember about the 08 crash is the US Government and the Federal Reserve dumped something like 10s of trillions of dollars into saving the banking sector and housing still collapsed like it did. We can have the same housing collapse if the government doesn't try to save banking and housing again. So the effect on the US citizen can be equally as bad if the government sits this one out.

[@Any_Halfs]

I’m glad I found this channel, a realtor told me and my wife just refinance if a house is 300k then drop to 250k but my hard head always telling the realtor and my wife I’m not gonna pay 300k for a house that was valued at 120k 3 years ago

[@IanTula]

Exactly...the whole thing is total BS!

[@MeadowDay]

Fantastic common sense and informative video…thank you Javier well done. Subscribed.

[@michaelsutherland8899]

My wife and I are one of those people to have bought in the last year. Our rental situation wasn't great and we wanted to be in a home. I believe that we can make it work even if the market crashes but it many ways it can feel like another set back to things like starting a family

[@BigDeejaypro]

If you have no plans on selling you’re not affected by a market crash

[@tjayer011]

It will come back up.

[@LordRobbert]

Rule of thumb, when everyone is screaming one thing the opposite happens, the housing market will only crash if people are desperate to sell, the economy being bad doesn't warrant a housing market crash. People buying houses now are over qualified and financially stable, being those are the only ones that can get approved. I just don't see a crash anytime soon, you'll need some unforeseen event as a catalyst IMO. Those waiting for a crash will likely be left behind.

[@Dbb27]

You’re just fine. We are still 4 million housing units short in the U.S. And have the largest pool of 25-35 year old buyers since WWII. I did a market analysis in 2019 and prices from 2003 were exactly where they should have been if the 2008 crash never happened. The pandemic made things a little crazy along with the prior administration pushing rates down to a ridiculous level which really heated up the housing market. The supply chain shortages also increased prices. Things are calm now. Normal ratio of sellers selling to buyers is a six month supply of homes. My area and most of the country is around three months. Doesn’t sound like you are selling tomorrow. You are nervous over a market you aren’t participating in. Make sure you are debt free, save up six months of an emergency fund, have a goal to pay off your house early and don’t use your house like it’s an ATM. My house in 2001 I bought for $149k. In 2005 it was worth $400k and by 2008 it was worth $250k, now, $580k. You’re fine, live your life, stop worrying and have those babies! 🥰 Have those babies and enjoy your life.

[@TzUuup]

If its your dream home dont even worry about it. As long as youre ok with the mortgage, youre fine

[@hgjg5206]

i love his realistic scenario based case reviews.. so refreshing to see this

[@MrMr408mr]

Thanks for the great video and all the different ways in wich this market can go, appreciate the education on the housing market, Javier!

[@edwardrhoads7283]

I am someone who bought their first home in 2007 just after the peak but before the crash. I bought the house for 71k. A few years later when I went to refi the loan my house got appraised at 45k (I owed 52k). As bad of a decision as that would seem that house is now worth somewhere in the 160-200k range. So...

[@quixomega]

Yes, it would be. 2007 wasn't the bottom, but it's come up a lot since then.

[@edwardrhoads7283]

@@quixomega My point is even if you buy the house and the price crashes it will come back. Might take a decade but it will come back eventually.

[@edwardrhoads7283]

@@Javier_Vidana_ Hello scammer. Scammed any scammady scams lately? Scam Scam Scam Scam.

[@Lucy11_11]

Same - except I bought in early 2006 & I owed 3X appraisal when market bottomed out 🤷🏾‍♀️🤦🏾‍♀️ However, I could still easily afford it, so I stayed. Eventually became an accidental landlord (moved out when I was still underwater) Rented it out bc… what else to do?!? Now… not only is the value doing well compared to what I owe - I’m also cash flowing a nice amount. Buying what you can afford - regardless of market fluctuations - is key.

[@TzUuup]

​@@edwardrhoads7283exactly. Sick of these youtubers calling for doomsday. Most people buy homes and see them as homes 1st investment 2nd. Just sold my first home to purchase my 2nd. Got bent over with the interest rate but i am very happy with the neigh orhood, school and work commute. It was worth taking on those few points and i dont plan on moving ever

[@gubzs]

I got downvoted into oblivion on reddit last week for saying "buying a home in 2023 will be the mistake of a lifetime for many" That's it. That's all I said.

[@comment_deleted]

because you are wrong. 50,000,000 people are waiting for a housing crash, as are every bank and individual investor looking for a deal on income property. Houses are still being bought over ask. there are too many people chasing too few homes. the inventory isn't there. keep waiting. you'll be waiting forever. Notice how his chart goes up and to the right? thats the steady increase of home prices. the longer you wait, the higher it climbs up and to the right.

[@jefff6884]

@@comment_deleted You missed a keyword in @gubzs comment. They said "many" not "ALL". Both of you are technically correct.

[@comment_deleted]

@@jefff6884 I didn't miss it. It wont be a mistake for many. There isn't going to be a crash. maybe a slight correction but I wouldn't hold my breath. Lending guidelines are too strict for anyone to have a life time fuckup by buying a house.

[@candelariaw1668]

What a crock of BS

[@comment_deleted]

@@candelariaw1668 keep waiting. see how that works out for you.

[@binaryflat]

For. a couple of years I have been looking for a house, and every time I found one, it already had a contract. Some had contract as soon as they came on the market. Now I am seeing signs, and prices being dropped. This happened FAST. I sat down and did the math using 7% interest, and I refuse to pay that. I put a 180k home in a calculator, and over 360 months, it would cost ~600k. That is insane!

[@Dbb27]

Renting wouldn’t be much different and at the end what would you have? You can pay off the principal early and that decreases the amount of interest you pay.

[@abnerb88]

I am not sure how you get this numbers. Be sure when calculating 7% is a yearly not monthly also mortgage is calculating using banking percentage. When you pay out the mortgage the bank getting less and less. So with your numbers. Total cost will be $431,000 interest paid in 30 years $251,000

[@binaryflat]

Good point. I used an online mortgage calculator, and "assumed" it was correct. Even your number is unacceptable to me. Cash is king!@@abnerb88

[@jjjonis245]

Yeah, bean counting will make you crazy.

[@binaryflat]

@@Dbb27 That's right... I did that with a piece of land. The bank sent me a statement, or whatever it is called showing my principal and interest. That made me ay off my 15 year mortgage in 2 years. I will do the same with a home as soon as I find one I like . Usury should be a crime!

[@rogermendez0345]

Wake up call for us homebuyers that houses are not solid investments anymore. It's dangerous and very risky. One of the best videos you have 👌

[@aeronnunez]

Your energy in this video is amazing man . Cool video you got here

[@calus7890]

As someone who is on the verge of moving out of my parents house for the first time this is exciting for me, thank you for this great news i’m excited to watch the prices drop and I’m hoping i can strike at the right time when the prices are at their lowest

[@jacqueslee2592]

How old are you? How long did it take you to move out? Do you live in an expensive area?

[@ryanbell773]

I also think it’s the “starter home” mentality. Buy a forever home and invest in making it your future. I plan to leave my house in a casket.

[@JavyVidana]

That’s an amazing point. Now that I think about a “starter home” is an idea created by people who want you to be buying a new home every 3 years.

[@unknowncsd]

It only matters if you plan to sell, have a variable rate or plan/have taken a loan on the equity

[@elizabethblane201]

. . . or lose your job or get relocated or divorced or a spouse dies. All these happen too.

[@phenglee6084]

Well said in the last three minutes. A lot people needs to hear it.

[@Thecrooms]

And another thing first time home buyers need to hear is that even tho prices may be going down in their area. Property taxes are a year behind with values so your taxes may still go up. And in some localities they may be 2-3 years behind depending on how often a property gets reassessed.

[@MomAsol]

Thanks for sharing, your right the price now is crazy

[@katherinerobinson6644]

As someone who has been sitting on the sidelines for three years (I graduated college at the WORST time)... This seems like such a fantasy scenario. I can't even imagine home prices going down. I'm just so used to the market being completely toxic.

[@user-bb2gz3or2x]

Hats off to you, Javier. Thanks for sharing.

[@TheSRMproject]

I couldn’t even imagine what it would be like to have more than 20% of my house hold TAKE HOME pay going to a mortgage. With how expensive everything else is I really don’t see how people are surviving.

[@WordMadeFlesh777]

I know. The vast majority of people are up to 40% +! Brutal.

[@thesavvyhuman2752]

People are literally paying over 35% take home monthly just to own a home

[@Kamone111]

Well rent is just as high

[@quixomega]

I'm not sure where you live where you can manage such a cheap mortgage, but around here you'd need to make more than $200k a year to get in that range living in a 1 bedroom condo.

[@TheSRMproject]

@@quixomegacentral California. Luckily bought my house in 2015. My wife and I make a bit over 200k a year which is high for our area. $1900 mortgage @2.6% on a 30yr

[@sparks.speaks]

Thank you for making this video!

[@Bjax111]

Love the advice. Buy what you can afford. I bought 6 months into the Covid bubble at 20% of my net income. If I were to buy my house today at the new price and new interest rate it would be nearly 40% and would constrain my lifestyle and stress me out.

[@joseCalderon1976]

There's no way I would get into a mortgage that is more than my 25% take home pay. Let alone 50%? That would make you house poor. Furthermore, it always costs a lot more than you think to maintain a home. Even a new one. It's a recipe for disaster. Thanks for the video.

[@Thisismeofcourse]

right!! why do people say that 40% is fine these days?

[@BigFanCooks]

@@Thisismeofcoursethey know nothing 😂

[@leslienelis301]

Interesting take! Thank you for your honesty.

[@labitcoineragt3596]

I bought my home as a hot sale in 2012. We got it at bottom of bear market. Most people in my neighborhood who bought 2006-2008 didn’t make it, only my neighbor who hodled that home for years until she was out of break even. Everyone else drowned

[@alexismatteo347]

interest rate is such a pain in the a$$. wish we could lower it down in an instant. amazing video javier ! ❤️❤️❤️

[@wayward03]

The low rates of the last decade are why prices are so high in the first place.

[@CardanoRealtors]

most of the people who are not moving are the empty nesters, they were usually selling and moving somewhere before they go to a senior community, now they are not making that interim move... seniors need to sell in order for the inventory to rise high enough to cause any decline in prices. Prices are not dropping in my area , Philadelphia suburbs... it depends on where you live..

[@jakebates5918]

thank you for making these approachable videos! If a new homebuyer wants to figure out how much house they can afford, what would be the best way to do that?

[@JessicaChungMN]

A common number is 28% of your gross income!

[@DudePlays]

Demand is not going to stop anytime soon. As soon as the rate goes down there’s going to Be tons of people who have been waiting on the sidelines bidding up houses again. I’m one of them.

[@wi11ialvl]

Seeing houses, in the neighborhood I want to buy, sell for less than they bought as a new construction 2 years ago.

[@koyadario]

Javier this is your best video ! so powerful man.

[@edjohn5114]

I CANT WAIT UNTIL THE MARKET SETTLES. I just got a nice new job and I’m making way more than I’ve ever made. Now I can just wait for the market to regulate in a couple of years and I’ll get a deal on a house.

[@robert5507]

My mortgage is 58% of my net income but im on a 15 year. Im managing just fine but obviously if I were to lose my job I’d be screwed. This assumes the absolute worst that one loses their job

[@born2win262]

Bro how are you surviving

[@karissakline6765]

@@born2win262 That, and who keeps a job in the same area more than 5 years nowadays unless you’re wfh…bro is risking it all, but we will be waiting when it falls out!

[@philmarsh7723]

I believe we will need something to reduce the perceived value of real estate as an investment relative to stocks/bonds before we get a housing crash. A stock market crash might do that if it significantly reduces the P/E ratios of the market.

[@robertgallagher7734]

Doesn't matter if you rent or own, you still have to pay for a place to live. Unless you move around alot, buying a home is a better (long term) investment. Have seen the real estate market crash twice. Eventually it builds back up.

[@Dbb27]

Four times for me, lol. It cycles but historically has increased 4-7% per year as a national trend. Obviously, every community is a micro market.

[@grzeniak]

Exactly! Even if you overpay in short term look at the tend over 30 year time horizon.Please show me a house that cost less now than 30 years ago?? 7-8 percent mortgage is NORMAL

[@jayc4715]

What should home prices be? Im guessing 3%+ year after year starting in 2019....??

[@renelopez2244]

Corporate Investors should not be in Single family home residents.

[@SF-ul2mr]

I live on long island i doubt home prices will ever go down bc lack of building new homes and space wont outpace demand here.

[@sunnohh]

For sale signs are lasting like half as long in my hood vs 1 year ago, at the same crazy prices or higher…did I mention they are selling fast… but yeah I don’t see any supply coming to fix it

[@LuchadorEMC]

This happened to my cousin. He bought after the 2008 crash. He bought his home on what he thought was the bottom. 2 months later, his home lost $70K in value and he was pissed. Talk about catching the falling knife.

[@keithburton4679]

2008 has nothing to do with the current situation in the market. if you like I can explain.

[@MichaelGriffey6969]

People who are pissed their property value dropped piss me off. Why the fuck are you pissed off? You got a house while the rest of us are stuck renting lol. I know when I buy a house I'm going to live in it until I die so fuck the "value" as long as I love my house.

[@miltam2183]

@@MichaelGriffey6969well said

[@Gravesyte]

​​@@MichaelGriffey6969^This I'm tired of renting I'd like something to call my own someday to pass onto my sons,even though you'll still be paying property taxes after it's paid off, my only regret is I didn't buy around 2020-2021 before the increase

[@katydid2877]

I bought in 2003. Yes, it was a roller coaster. Did I care? Eventually, no, cause I wasn’t moving so who cares? I didn’t sell until 2021. Yes, I did make a couple bucks by then.

[@ICanCreateThat]

Don't forget...your payments are ALSO money you're not giving to a landlord. That money is paying for you to have a property, builds your credit line, and allows you more leverage when trying to do things with your credit. Yes, understanding the added principal payments sometimes working against you if interest rates are high, but also...you're not at the whim of the homeowner who can sell it out from under you (and it has happened to my parents in the last 2 houses they lived in and probably will eventually happen in their current house). And if wages start climbing with this push in labor power with unions waking up and gaining more support, you're going to be fine. But our government really needs to get a hold of the inflation and thirst of corporations who believe quarterly profit increases should be infinite growth with lower and lower tax overhead. If it continues like this then we, the working people, will all be underwater.

[@kingsford2032]

yes you are right , just look 10 year ago how much was the same house and today how much is it , good on You mate and you want to go far, just look 20 years ago same house and today , better keep renting because need some where to live .

[@newyork397]

Just use a rent vs buy calculator and if the payback for buying a house is a short time span (around 5 years) then you know it's a buyer's market. Just make sure you are using a good calculator that looks at all the variables.

[@PatamaGomutbutra]

House peice today is a kind of manipulated stock. It is overvalue from big investers push it. The big investers can big short any time and make the overprice crack down.

[@elkuartostudio]

I just received a letter from my lender that they are going to reduce my monthly payment to $812😊

[@keithburton4679]

That is why I bring my clients to New Builds. I have sold 3 homes this past week at 4.5% and 5% 30 year fixed rate.

[@D00mzZ]

What state

[@keithburton4679]

@@D00mzZ Arizona

[@mph5896]

At that rate, is that a buy down on interest for a few years, or over the entire 30 year loan?

[@keithburton4679]

No, this is a 30 year fixed loan. A lot of people do not understand that the Builders using the profits in order to buy down the interest rate permanently. There are some builders that are doing 2/1 buy downs and 3/1 buy downs.

[@keithburton4679]

I used to work for a top 100 Builder doing operations, sales management, and Land development. A lot of people do not know that each home has what is called a sworn, construction statement. That is a breakdown of all the fees, lumber, concrete, cabinets, electrical and heating to name a few. Plus, they include up to 7% in commission. Some Builders are paying their agents less than 1% commission to sell the home. And paying realtors a 2% commission. That leaves the builder with an additional 4% profit. Then take that money and put it into a pool of funds in order to buy down the rates.

[@noogman]

I can't help but think the real estate corporation had something to do with the giant increase in home sale. Even if you stay in your home you should know that home insurance is skyrocketing, HOA fees are going through the roof. Schools and municipalities are pushing for more and more property taxes just to dress up our town with fancy brick half walls and lights. My school district just asked for an additional $100,000,000 annually in additional taxes to fancy up our school campuses. The graduation rate is less than 50%. There is no winning for taxpayers unless we fire all of the money political money hogs at the federal, state, county and city level. and stop supporting people that refuse to work and pay their share of taxes. Yes I am talking to everyone that thinks the government should support, feed and provide them with shelter. That is something your family should do, not tax payers. Everyone needs some help now and then from family but these Politicians, freeloaders and drug addicts have got to go.

[@andyfumo8931]

Preach!!

[@octagon_009]

Banger of a video, thanks Javier

[@mikemorgan8646]

Hey Javier: What's your/your typical client's equity position? Did you overpay? Or does nobody wanna touch that with a 10 ft pole? Because that's the feeling In gettin' here

[@Lisa_688]

Very insightful, thank you!

[@TheBlindEternities]

When calculating net pay, do you include the money you are putting towards 401k/HSA or any other deductions that are taken out before you get paid? I max my 401k each year so that’s a significant amount of money that never hits my bank account which means the money I actually have to work with is a lot less than it could be if I changed my contributions, and thus 30% of that number is quite unrealistic…

[@Gemma_626]

Wow dude, your explanations are not linear. All over the place

[@gabevive71]

Idk I don't see it getting bad because the inventory isn't keeping up, and so many buyers are sitting and waiting for the interest rates to drop. The buyers are ready, so the competition "IF" it drops will be absolutely brutal, unless another's great depression happens. I don't see any crash, but that's my guess. I can't wait to see what happens

[@lukem3067]

Great video but houses as I understand or sold on the margin, so what does that mean?

[@mwwhited]

It’s not so much about the interest rate but the total payment… with the federal funds rate so high the houses will have to go for half as much (or longer terms) to reduce the payment.

[@ThomasTownsJr]

Javier - YOUR VIDEOS ARE AMAZING! I'm a Realtor in the Tampa Bay area just starting out in video content. How long did it take you to get so good at editing? What platforms do you use for your edits? Any resources you recommend?

[@theodorejohnson7467]

Most youtubers hire someone. Editing requires a lot of time. For a 10 min video expect to spend about 10hrs editing.

[@clint25n]

I can only hope so, for myself personally. All of our property taxes would be drastically reduced, and new buyers would be able to afford homes again. On the bad side, it would trap a lot of homeowners that hoped to move in the next several years.

[@HamRadioLiveShow]

SUBSCRIBED! Agree. As a retired Top Producer in real estate… I can say the market can only go up at higher thar 4-5% annual appreciation for so long. The problem, is the market has been appreciating at in some market double digits annually. This can only last “so long.” Eventually the market crashes and the market then “corrects itself.” 2008 crashed because of HORRIBLE lender practices. This crash will happen because of l unsustainable appreciation over the last 5 years. High inventory, less pendings equals bigger price discounts from sellers. If you’re looking to sell your home and buy another, remember that prices are relevant. If you sell your house for less than you thought, you’re going to be buying your next house for less as well. This is happening already in formerly hot markets like Florida, Texas, the West Coast & even Hawaii. Best bet? To HOLD on buying a home until at least 2025.

[@rebornfenix4412]

I’m at 1/6-1/8 take home for insurance, taxes, principal, and interest. I can hang on to this house even if I have to take a pretty large pay drop.

[@PurpleReign28]

The part nobody talks about is what do people do when they cant afford to buy a home right now? Javier says to rent in the meantime, but rent for a 2 bed 1 bath APARTMENT is now pushing upwards of $2,500/month! How is anyone supposed to be able afford that rent, all whilst supporting a family, AND save for when rates go back down again? Only way is to boost monthly income somehow. Trick is figuring out the HOW in that equation.....

[@katydid2877]

A listing popped up on my fb feed cause it’s in my area. It’s a spec home, in 2023😮The houses in the community are various sizes and there’s empty lots also. Noooooooo ……..

[@Openminded4life]

I almost got caught up in the FOMO but I reminded myself that I already have a house and will upgrade when the numbers actually make sense meaning prices come down in Los Angeles and I wont lose like 30% equity like buying a new car and driving off the lot.

[@chew337]

Im glad i bought mines in 2021 even though it wasnt the house we wanted but it turned out great and my mortgage is 300-400$ cheaper then rent in my area.

[@bernitup6492]

same here...

[@Jack-pd4ps]

Same here in 2020. The market isn’t going to crash. 2020-2021 is considered a great deal now.

[@elizabethblane201]

In my area rents are about 45% of mortgages. Not smart to buy in my area now.

[@chew337]

@elizabethblane201 just rechecked my area to and it's half my mortgage too now that's just crazy

[@elizabethblane201]

@@chew337 Yes; I never thought I'd be telling my kids, "Rent, don't buy right now.", but I am.

[@user-eg2jr8dt1j]

We overpayed about 70k for our house, possibly, but it doesn't matter in the end. 70/30 is a 194$/month premium on the property.

[@JavyVidana]

Would you be brave enough to be a topic for a video? Email me your details at [e-mail]

[@waynemiller6070]

Good video! Sensible information here. But not everybody is sensible.

[@patriciacampos6428]

Good feedback. It is the negative side of it but this scenario is possible. As long the unemployment rate is low, will be ok cause there are thousands of people moving in our Country daily now days

[@truckingwithtobee]

Hey Xavier! I’ve been following your channel for a couple years now. And you’ve been pretty spot on and what you have been saying all along my question to you is. I am in the vegas area. I noticed the prices are starting to come down here a little bit. We’ve been in the market to buy a home for the last three years and we decided to sit on the sidelines but we’re getting very antsy as we need to get moved to Vegas as we are commuting over three hours round-trip every single day and it’s starting to get old. We have a trucking company and I actually drive from Vegas to Phoenix every single day five days a week and we just need to be closer. If you were in our shoes, would you…… A. buy a house anyway right now? Or…… B. Would you sell the house that we have right now while the market is still up and rent a house for a year? Which one would you do??? a little bit about our scenario. We own our house free and clear. We paid it off in nine years. We haven’t had a house payment since 2005. We have enough cash to pretty much buy a home that’s under 450,000 outright. But what we’re worried about is putting that money out only for the market to hit rock bottom and us to lose 100 or $200,000. We just don’t know what to do but we know we have to do something because this trucking business is killing us.😂

[@brentmartin6833]

Well, besides the commute killing you, how much would you save in fuel costs/wear & tear from not having that commute? And if you think your current home could lose the same amount in a housing decline? (I have no crystal ball for the future of housing in Vegas or anything else for that matter.) Economics is trade offs, this would be the possibility of losing money depending on how long you keep the new Vegas home, etc. Vs. The commute (however much that costs time/health/money) & the current/future value of your current home. You've probably already thought of all that, but maybe not written down?

[@truckingwithtobee]

@@brentmartin6833 i’ve answered all those questions I was just looking for another perspective. We have a trucking business I drive one of the trucks, so it is a literally and figuratively killing me to do the commute because not only do I drive from Boulder city Nevada to Phoenix Monday through Friday but with all the construction in Vegas, it’s taking us on average two hours to get home every evening. So I literally get up at 1:30 in the morning to get ready and we are out of the house by 2:45 AM. So that we can get to Boulder city by 4 AM and by 430 I’m driving on the road then by the time we get back in the Boulder city drop our load and then fight the traffic to get home sometimes at 6:30 or 7 o’clock at night and then I have to do it all over again the next day. So that is the reason for needing to be in Vegas specifically Henderson or Boulder city. it looks like we’re going to be buying in this bad market because it’s not worth getting into a accident and potentially losing my life hurting somebody else or losing my business so thank you for your insight. You basically stated everything I was thinking.

[@brentmartin6833]

@truckingwithtobee2974 I know pre pandemic people suggested moving to the suburbs/exurbs to save money. I don't think they meant quite your commute. 😉 I hope you find a good home in a good location and at a decent price.

[@truckingwithtobee]

@@brentmartin6833 we didn’t move out here pre-pandemic been out here since 1995 actually. I’m not time we did not have a business yet.

[@billyruben116]

The rapid increase in rates cooled the appreciation and bidding wars; prices rolled back 5% to 10% lower, But are now going up from that plateau. No bubble coming unless massive unemployment. Inflation and sidelined buyers that will eventually buy will continue to drive prices up. Supply will stay low since most people will not sell away from their 3% interest rates. And like you said, loan mod and foreclosure avoidance programs like forbearance will keep those people in their homes, so supply will remain relatively tight. If you can buy, then buy now, and with the high inflation we have and will continue to have, you will be paying off the mortgage with discounted dollars.

[@TJJS982]

Great explanation.