Housing Market Destroyed in JUST 40 YEARS

Took only 40 years to destroy the U.S. housing market! American Dream of homeownership reduced to rentership in less than a generation. Now more Americans living in multigenerational housing!
#housingmarket #realestatenews #mortgagerates
NAR 2024 Profile of Home Buyers and Sellers:
www.nar.realto...
FRED Chart 30 Year Mortgage:
fred.stlouisfe...
Todd Sachs, is a Maryland Real Estate Broker providing information based on his opinions and the opinions of others regarding the housing market, the U.S. economy, and geopolitics affecting Americans.
Todd Sachs is not a Mortgage Lender, CPA, Attorney, or Financial Advisor and any information provided in this video or any videos containing Todd Sachs including the descriptions and titles are for entertainment purposes.
This is not to be considered broker representation, legal, financial, or tax advice. All content including written, spoken, or implied is deemed to be true, but not guaranteed and based on opinions. It is your sole responsibility to verify any and all information for accuracy and correctness.
If you're currently represented by another Real Estate Brokerage, Todd Sachs is not attempting to solicit your representation.
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[@tangolima5340]

Even if the rates go down the prices are still way too high

[@saragerend479]

Amen!

[@annac3514]

Not really. The cost of everything has increased at the same general rate. However, wages have not. THAT is the problem.

[@beyondthunderstick1578]

Compared to what? First world Asia ? Ha America is cheap. Compared to the EU (not counting the abandoned countryside) ? Ha America is cheap. Compared to Australia outside the extreme outback? America is still one of the most affordable countries to own a home in the DEVELOPED world.

[@annac3514]

@@beyondthunderstick1578 after paying cash for a house, how "cheap" is America? How about the quality or lack thereof? How about them taxes and insurance on the cheaply built American homes?

[@DMAN590]

​@@annac3514not really, housing has far outpaced the stated rate of inflation. While you might suggest the stated rate of inflation is incorrect or fudge to be lower than it is, housing has certainly outpaced it by a lot

[@hi-if7lj]

Nobody in America owns their house. We all just rent from the government. We are just home maintainers. We are just surf's

[@rocaverde2829]

True. Now that I have finally paid off the mortgage to the bank, I will never be home free. The biggest carrying costs that I have in my case is the county tax bill. The insurance is high and the HOA fee is too. But both of those together fall far short of the tax bill. Yikes!

[@sharondalynnewton7562]

Yes the fact that you never truly own your home due to the fact that you’ll never outright own the land. Then can lose your home due to late property taxes. All scams.

[@rbeezy9728]

@@hi-if7lj hard to argue against that

[@purplesprigs]

As "surfs" do we go "serfing" at the beach?

[@oli23511]

​@purplesprigs you're so witty and smart. Go get the snack from the kitchen.

[@name-um9cj]

With property taxes going through the roof too.

[@1Skeptik1]

Good work! Todd is my go -to guy for everything real-estate. Note: Affordability is connected at the hip to income and incomes have NOT kept pace with inflation. We began exporting millions of our high-paying manufacturing jobs 40 years and here we are. I'm 73 years old and lived it. Note: 50 years ago Detroit boasted the highest per-capita income and today it's a virtual slum.

[@privatecitizen4001]

Now Elon and vivek want to finish the job by importing highly skilled labor to take what few good paying jobs we still have here

[@SachsRealty]

Appreciate you 💪

[@champstar9669]

Cool, except your go to guy has been dead wrong for years. "US Home Prices Surge To 17th Consecutive All-Time High." ~Zerohedge

[@threemonkeys5441]

This is getting so discouraging. Been looking to move since 2022 and every house still comes on the market at ridiculous prices and needs a complete remodel

[@seanbravo]

@@threemonkeys5441 in what market?

[@rl9808]

Rich people can buy a house, regular people cannot.

[@champstar9669]

So choose to be rich then.

[@emilo81]

Asking prices are outrageous, agents are pitting buyers are against each other to drive up the final price.

[@JoshC619]

Anything above 4% is bad when the home prices are extremely overvalued. Prices must crash to normal levels.

[@privatecitizen4001]

Will never happen

[@markroberts8975]

Maybe they must but they won’t.

[@stanleymedrano]

@@privatecitizen4001believe is It's already happening in San Antonio, Houston and Dallas and other cities in USA

[@10317]

The problem is, if people are willing to pay today’s prices then the seller will not negotiate down.

[@JoshC619]

@@10317 Most of the people buying at these high prices are foreigners or real estate companies. The real estate companies are gaming the system to keep their listing's high. They will fake a pending sale if the house has been sitting on the market too long. Then re-list that home without lowering the price. The entire system is broken and corrupt. Prices must crash and we must experience deflation! The government is gaslighting the American People expecting us to normalize this inflationary environment. Hell no!!

[@mikeking7582]

BAN ALL THE HEDGE FUNDS FROM BUYING SINGLE FAMILY HOMES.....

[@reggiemurphy7028]

100%

[@elizabethv7411]

And non-Americans

[@CrashBr0]

Huge tax for corporate entities that buy single family homes.

[@champstar9669]

Banning profit is never good for the economy.

[@TruthTalkWithDarci]

This is by far the most authentic & genuinely honest channel on what’s REALLY happening in the world that we’ll NEVER hear the truth in the media. Thanks for this!😊

[@SachsRealty]

Thank you 🙏

[@champstar9669]

Hate to burst your bubble, but your view on the honesty of this channel may not 100% accurate. "US Home Prices Surge To 17th Consecutive All-Time High" ~Zerohedge

[@TruthTalkWithDarci]

@ you might be correct. I’m always open to being corrected.😊

[@champstar9669]

@@TruthTalkWithDarci It's all good. He's in sales. Sounds knowledgeable. But there are a lot of factors to consider. I'm not a housing bull. But I think the dip will be minimal.

[@frostypi7042]

Thanks Black Rock & Globlists!!!

[@11conormcloughlin]

Central banks and corrupt lawmakers too.

[@censoredeveryday3320]

Actually it was the government. They shut down the economy and then printed trillion of dollars

[@WreakingHavoc1]

And the small hats control both...

[@derekmason1790]

😂​@@WreakingHavoc1

[@annjames1837]

My area was once very affordable until the California invaders moved here

[@divinelyindifferent]

Todd, your channel produces better, more substantive content than the corporate media. Always impressed by your incisiveness, brilliant guests, and humility. Your channel deserves all of its success.

[@SachsRealty]

Too kind🙏 Thank you and Happy New Year.

[@FreckleFacePupsNStuff]

Sold my home in south Florida and I’m so glad it’s gone. So much more to this than high prices. Americans are getting screwed.

[@benrichards9667]

the national average 30-year fixed mortgage APR is 7.07%

[@pukebucket5360]

that doesn't seem too bad. It's the prices of the homes that are way outta wack.

[@analoglime]

​@@pukebucket5360 mo Ron

[@iddddaduncan]

That's with great credit and a good down payment, how many buyers fall into that category?

[@NickPaul-k8z]

The average median house price is 415,000 who cares about 7.07%😂😂😂

[@wallye8713]

Bought my first home at 191/2 yrs age at 17.5% with 20 percent down (mine not gift) great credit. Shi**y job market but had my own business working 7 days a week for 5 yrs. Oh I never went to a Taylor swift concert at a $1000.00 a ticket either. Woke dopes

[@JerryMarshall-m8f]

Its not the interest rate that is the killer. It is the lack of income vs costs of goods services and what it takes to live. There are 15 companies that own an average of 108 companies. Inflation is a problem but you still think it is the primary problem????

[@stanbrown4781]

@@JerryMarshall-m8f I would say that's one of the major factors behind inflation. The more these companies gobble up others, pay goes down and job loss increases. This in turns gives the government justification to create more programs thus producing inflation and its effect of rising asset prices . The result is deficit spending and a viscous death loop

[@rbeezy9728]

@@JerryMarshall-m8f very true! Competition always favors the consumer, prices stay low when people have options.

[@aracelimalone1167]

😭 It’s so exhausting!!

[@josephscott1952]

I've seen how most families live today and it's utterly disgusting 🤮

[@WreakingHavoc1]

And it's disgusting how Americans have been burdened to support JB and KH's newcomers

[@earnthis1]

you are getting confessional on here about yourself again? lol

[@josephscott1952]

People can't even hold down a job what makes you think they can buy and manage a house???

[@ponygirl1624]

Unemployment is on the rise.

[@theycall21]

He said, that multi families are buying a home and living in it.

[@francismarion6400]

Just legalize weed and forget about responsibility.

[@Rarz7797]

Jobs dont want to pay their employees livable wages.

[@francismarion6400]

@@Rarz7797 So start paying your employees more!

[@dealsfromvirginia1773]

I just can't believe that 80% of buyers still think they need an agent. Wake up people, no one need a realtor, except to entertain them here on the tube.

[@sunshinebuilderfl]

People could also clean their home but they hire someone else to do it

[@DMAN590]

Considering that the vast majority of people buying and selling are boomers stuck in their ways, it's not surprising. The market shift with realty has not shifted yet. When I sell I will use an MLS listing service that has a flat fee and does all the work of an agent virtually

[@frankdattilo1836]

Why are their 3x more Blacks featured in real estate commercials when they constitute 12% of population & own 5% of all housing with a 50% foreclosure rate

[@chris-co3ej]

My comment got deleted. I was testing the algorithms and mentioned the J word. I politely commented on the bank ownership and BANG DELETED!!

[@champstar9669]

White...is what's RIGHT. 💯

[@TheZuluPilot]

Oh lord your an idiot

[@aracelimalone1167]

I noticed during Covid & after I’ve noticed a BIG INCREASE in brown folks in 90% of commercials. It’s great! Diffidently noticed tho!

[@heidefeldman1760]

Todd, I am a seasoned RE buyer and seller. Not an agent. Went to Lennar in Williston FL today to see 9 homes they had ready to release. They offered 4.99% mgt the homes has HOA at 90.00 that did nothing. As I looked at the homes that were not in compliance with HOA. Secondly, the major buyers were cash investors and then it's all about renting out, not good. Cars parked in the driveway and it made the development look cheap and dirty. Irrigation is on city water wait til these first time buyers get their water bill. The taxes are $5,300 for 300k home. The footprint was tiny. Bedrooms 10x10 REALLY! AMERICANS are being scammed. Let me say they look nice but totally not worth the capital layout or the long-term stay. I was so disappointed the area is so lovely and they should have implemented a deed restricted development and added trees. No trees Todd none. It was terrible.

[@taylor943]

I got lucky and bought a house in 2020 really low interest rate but then found out that I’m just going to be renting from the government my entire life. Currently paying about $1000 a month in property taxes and it’s only going to continue to go up.

[@themarkandmelteam]

Whats crazy is that im seeing i buyer homes, that were bought in 2021, sold for 100k more at the peak in 2022, and that buyer is now TRYING to Short Sale the last year, and reduced to almost the sale price that the i buyer purchased for in 2021! These i buyers and hedgefunds completely raised and now dipped the market here in Arizona (unfortunately, on the affordable sized home)! I said this would happen 3 years ago!

[@Jdogger1979]

People forget you can pay cash for a house.... So interest rates do not matter.

[@commonsense6846]

Who pays cash? Not the average buyer?

[@seanm3226]

@@commonsense6846 “Who pays cash ?” you ask. About 1/3 of current homebuyers. It’s not unheard of. My last 7 or 8 properties were cash purchases.

[@navsofour2892]

@@commonsense6846 still you can pay 50% cash instead of 20% and that rate will matter much less.

[@cjbecker1683]

Rates today are NOT the issue it was the cheap 💰💰💰The Fed handed out that drove housing prices well beyond their typical rise that would normally mirror inflation.

[@objectivethinker3225]

My parents paid 50k for their first house in the 80s... They also paid 18% interest something people today conveniently forget. Mortgages should NEVER be below 7%... People who save and pay down debt need to be rewarded again!

[@Member3285]

Do the math on compound interest of 18% at $50k, normalized by 1985 average individual income. Then compare to 7% at $450k at today's average individual income. Your comparison is faulty. Affordability is not constant, the financial gap of the 80's is now a canyon-sized money pit. They are literally talking about "the new way" is multiple multi-generation families under one household. Like, my family, your family, and some other family, with our parents, and our kids, all under the same roof. How long do you think until the government starts charging property tax 'per resident'?

[@objectivethinker3225]

@Member3285 I didn't make a comparison, you did. I simply outlined the obvious fact that cheap money has contributed to the increase in house prices. I agree with you that houses have never been less affordable... Which is clearly because of excessive artificial liquidity by central banks and fiscal spending by governments both contributing to massive inflation in particularly investable assets such as housing over the last 15+ years.

[@Reutzel507]

I rather have high interest rates over purchase price

[@rbeezy9728]

The average home mortgage rates in the 1980's was 12.82% and people were just fine. The problem was artificially low rates caused every body to start thinking they were some real estate "guru" driving up the cost of housing with cheap loans.

[@christiandunham8481]

True

[@TruthTalkWithDarci]

I don’t want ANY of it! real estate needs to get real! It’s only a matter of time the entire homes & financial market implodes.. they CANNOT sustain this b.s.!!

[@nitroneonicman]

Right now you can have both!

[@goldenparachute392]

So you would rather pay 4 times the cost of the house via interest payments. Ok.

[@jackgoldman1]

Todd, I think you are confused. In 1964, new houses were $20,000, one million dollars bought fifty new houses. In 2024, one million dollars buys two new houses. Why? The currency has been debased, using IOUs. In 1933, new houses were 235 ounces of US Treasury gold. In 2024, new houses are 235 ounces of US Treasury gold. Zero increase in 91 years. Houses peaked in 1971 at 1,000 ounces of gold, $35,000. This is a currency problem, not a housing problem. Houses are currency plays.

[@Vintage-Vespa-Miami]

True

[@Vintage-Vespa-Miami]

Is not the houses is the dollar ! Purchase power

[@billfunk3168]

@@jackgoldman1 I agree with your numbers.

[@marktapley7571]

Thats how it works when the banking cartel is depreciating the fiat currency at 50% every 17 years, in order to move all wealthy into their hands.

[@ru2189]

@@jackgoldman1 thanks for your comparison to gold. The nice thing is, you can turn the house into an asset and rent it out while you hold it. So your returns will be greater than Gold overtime.

[@KCDEFENZ]

U.S. credit card DEFAULTS just dialed in at 46 billion for first 9 months of 2024. Up 50% year on year. Exisitng home sales ending Dec.31/2024, closed at 4.05 million. Worst year since 1995. In addition stock market posted 2 back to back losses during "santa rally" and this only happened two (2) times in history. Buckle up friends. We have been here before...and know what this teetering economy means.

[@garrettpatten6312]

the thumbnail had me dying laughing

[@rocaverde2829]

Even if a 20 or 30 something can manage to qualify and make a first time purchase the carrying costs are also quite elevated. So just making a buy is one thing but these folks will take a beating over the years on all of the associated costs!

[@phoenixrising441]

Based on the publication pics I can see the NAR has gone completely woke 😂. Therefore it can be assumed that we should believe and do the exact opposite of why they are saying

[@bobnankervis9722]

I purchased my first home in 1985. Interest rates were over 10%, and qualifying was more difficult than recent times. Yes, lower interest rates contributed to the higher prices as buyers, unfortunately, are mostly only concerned with the monthly payment amount. All this being said the main driver that has destroyed the housing has been the debasement of the currency leading to the inflation of prices. Lower interest rates are a symptom of that. This factor has created other price related issues, i.e., corporate buyers competing with homeowners etc

[@marcopervo]

Lenders financing mortgages on homes 5-6x annual income instead of the historical standard 3x is the Elephant in the Room. The housing bubble was facilitated just like the college tuition bubble.

[@bobnankervis9722]

​@marcopervo All true and another symptom and outcome when you no longer have a sound dollar as we did when we were still on a gold standard and before the federal reserve and fractional banking. It is all going to end with the implosion of the monetary system. All empires have ended this way. We are not exempt from this inevitable reality. Prepare yourself

[@DMAN590]

Well said

[@nickk05281982]

30 year mortgages bid the prices up and realtors that only have their commission in mind so don’t properly advice their clients to bid down the prices

[@DMAN590]

30-Year mortgages have been around for a very long time. It was the low interest rate you were thinking about

[@bkearnaghan]

Todd, I just want to say that you really do a great podcast given the fact that I am not a realtor, a potential home buyer, or anything like it. I just find your topics very interesting and all I do is run a DJ business and my wife is a lab tech.

[@SachsRealty]

Thank you 🙏

[@michaelcostin2384]

Girlfriend and I were looking at rentals outside the Nashville area and it’s crazy that many investors who have purchased these new home lease/rentals, asking $2500-$3500 insane. Not many people can’t afford these prices. We decided to look at new construction and they’re discounting big time. We were smart, have no debt, and decided to purchase a new construction but told the builder, next year in June as we want to see the prices as well as how the market will look like. They’re desperate and the sale office personal told us we can get you into a house now, price cut, $25k, offer $15k for additional upgrades, and buy your rate. Told him, cut more if you want me to buy it now, money talks!!

[@coolkiddwightps3-hoopsetc561]

what city or state?

[@lilqzscribbleshow1560]

bro what you did is a very very smart move....Also by waiting until next june you and your partner can find even better deals and look at a variety of good house plans so that way you get the best bang for your dollar. ❤🗽🎆🙏

[@annjames1837]

The locust from California have ruined Tennessee

[@mylesgray3470]

Bought a new house a year ago near Seattle. Sat on the market 3 months for 975k. Offered 900, got it on counteroffer for 913! Nice discount.

[@Ja56780]

“Home prices are only gonna go up” 😂

[@TheZuluPilot]

The MONEY is BROKEN

[@kenvalenti5414]

My first mortgage was at 14%. These low interest rates for far too long have benefited the rich and devastated the poor/working class. Hyper-inflation and unaffordable housing is the new norm.

[@monsteraetc]

Pretty sure high interest rates would have/ do benefit the rich as well….

[@champstar9669]

Low rates benefit every class, do they not?

[@Member3285]

The rich pay with cash, the interest is not in their interests, except when they are the money lender. Fun fact, when the fed cuts rates, the banks don't have to. The banks tend to keep the price high so to increase their net gain. So when the fed rate is low, it is not necessarily good for the buyer, however it is good for the banker. People can afford to borrow more dollars, which are guaranteed against inflation by t-bills, so the more dollars the banks lend, the more 'inflated future' they acquire, and it divides the buying power of the dollar. Long story short, to fix this mess, we need to impose diminishing returns on gains (margins) and establish a carrying capacity for CPI growth based on individual income (not wages, so as to include unemployed, pensioners, etc). Interest rates are just the shell game played by the bank. High, low, our experience is not definitive to the state of things, it is merely a circumstance created between banks trying to inflate, and government trying to ease the impacts.. QE doesn't work though. So what do you recommend?

[@champstar9669]

@@Member3285 Less gov't. More personal responsibility. Buying a home on credit for affordable terms is not a given right. Agreeing to a 30yr payment plan and stretching it out to the full term is essentially enslaving oneself. The solution is to free oneself from "the system" as much as possible.

[@karileonard9239]

Disagree with your saying open concepts are good. This contradicts the needs of multigenerational buyers. They need quiet place to do homework or read or work on computer. Open concepts mean if someone watches football for 3 hours the rest of the household can't escape.

[@SachsRealty]

It’s what buyers are desiring. I didn’t talk to all of the buyers in America but I’m working on it 😂

[@hibiscus-dreams]

​@SachsRealty Maybe so - but now I've begun to wonder. Are they desiring it or rather are they being influenced by spending too much time watching HGTV starlets push an agenda of media/corporations? I haven't watched hgtv in yrs and am now realizing all those shows are affecting what builders/developers construct... hgtv (the last decade) is the current version of Hollywood in its heyday. Ps: @karileonard, I agree

[@proudliberal24-sv1wo]

You have not been able to buy a home in the Washington, DC area on a single income for at least 25 years. This is nothing new. You need two good incomes.

[@privatecitizen4001]

Unless you're here illegally, then you get a free place to stay thanks to the US taxpayer

[@rd24life]

@@privatecitizen4001 stop with the stupidity

[@SilverEagleStacker]

They are not getting a single family house.

[@censoredeveryday3320]

Even two incomes aren't enough

[@privatecitizen4001]

@SilverEagleStacker they're getting hotel rooms which cost even more than renting a home or a mortgage payment

[@michaeljones1802]

Wow, that timeline is almost exactly when trickle-down started, that's strange.

[@poonekar]

So the summary is “be positive”, “you will be able to afford a home someday” even though “the median buyer age increased to a peak of 56 yo from 49 last year”. Got it 👍

[@DMAN590]

Just in time for my child to already be grown up and in the same boat. I'm in. Perfect! God bless America

[@LeNguyen-im8dm]

I am living in Bay Area and I am renting. Each month, about $6,000 go to stocks. I keep buying more shares each month, which is exciting me. $6000/month goes to mortgage is depressing.

[@Jguthro]

The seller agent I had to deal with was a disaster.

[@icymae2000]

Binance infinity ETH bug right now I just made a video to show that

[@Member3285]

What happened to the buyers? Prices too high. Sure, the mortgage interest rates were historic low in 2020, but prices are historic high. That % difference in interest has a MASSIVE effect on an overpriced home, compared to those 'historic' 1980's prices at the same interest. Give me 1980's home prices, and I will gladly pay 7% or more! I can afford an overpriced home with record low interest. I cannot afford an overpriced home with high interest. It's unaffordable. It isn't some 'fluke' interest fault. Interest was low in response to overpriced homes in a stalled market (COVID). What people aren't seeing is that just like 2008, banks should not be lending so much for mortgages. We had to bail them out once before in the GFC.. so today? I wonder, how many home buyers are within the 30% rule? What does this indicate for the foreclosure risk? Todd, I appreciate you. Your content makes me think and rethink.

[@adamhatcher6620]

You talk about the interest rates being more normal... historicly but... you were paying 10 % interest on a 50k house not a 600k house BIG DIFFERENCE!! Housing and vehicle market MUST crash by a large amount!

[@hihoe1882]

lol the thumbnail says it all

[@DMAN590]

So mostly boomers selling to boomers.

[@jjred233]

Notice that the vast number of buyers believe homes are investments greater than any other investments. It is indeed boomers.

[@msingleton]

73% of recent home buyers did not have children living with them?!? The people who actually need the most space, families, aren’t buying homes. Insanity!

[@darrenhankner5282]

people still seem to be buying airbnb houses. $500k here in Joshua tree. I guess they figure they keep it long enough they will pay off the mortgage with the incoming cash flow.

[@champstar9669]

@Sachs Realty will never admit they're wrong... "US Home Prices Surge To 17th Consecutive All-Time High" ~Zerohedge article

[@ardenbowman4489]

BETWEEN THE INSURANCE CO, AND CITY TAX OFFICIALS SCREWING US AND THE BUILDERS SCREWING US YOU CAN;T BUT A HOUSE,WE MUST REVOLT SOMEHOW,YOU CAN BUILD A HOUSE FOR HALF IF YOU DO YOURSELF AND LOOK AROUND FOR A HELPER THAT KNOWS WHAT HES DOING INSTEAD OF A DOPEHEAD

[@donnarobinsonmedia7293]

Hey Todd, I'm a retired agent / investor. Spent many years in the housing market. My first mortgage quote was 15% back in 1984. I was happy to buy at 7.5% in 1993. And about this population aberration we are seeing in the housing market, where buyer age is creeping higher and higher. I wrote about this back years ago, when NAR announced that the first time buyer age had reached 32 yrs of age. Funny coincidence, that year happened to be the 32nd anniversary of Roe V Wade and legalized abortion. Ya can't just eliminate 60 million people from the population without consequences for the entire economy. Blackrock and company have moved in to fill the void and become a market maker. Thus fewer buyers, more lifetime renters and prices driven by corporate buyers with very deep pockets, who are steadily increasing their market influence. The shift from owner occupant buyers to corporate owners is a fundamental shift in the housing industry.

[@SachsRealty]

Thanks for your comment 🙏

[@dosjasanford6840]

I want to buy but the internet rates are too high I’m a single income home my rent is $1500 my mortgage would be $2700 no thanks

[@jj-eo7bj]

More info please ,,,how much mortgage for 2700 ?

[@CORZER0]

Love the thumbnail. We get it...

[@KenNeumeister]

multi-generational home-buying will continue to rise, but there is a problem imposed by zoning that limits the sleeping arrangements: number of adults who can share a room, whether adults can share rooms with children, and whether boy and girl children can share a room. This requires new floor-plans to optimize the sleeping arranges for homes that will house the primary family, their parents, and their adult children and their children.

[@ralphjessee2688]

In most states you'll be financially punished for moving from a home you own. The tax rate will "uncap" reset to a higher valuation and your taxes will be much higher than you're used to paying. And for what?

[@mairachavez8387]

Too much truth Todd. You better tone it down.

[@cvrart]

40 years is about how long REITs have been a significant vehicle for investment. They were introduced in early 1960, but it took until the early 70's for them to start gaining steam. By the late 80's, their corrupting effect in financializing real estate assets would have fully taken hold, making real estate a prime candidate for speculative asset bubbles. You won't find most people pinning the blame for housing unaffordability on the Wall St engineered financialization of real estate. The ONLY way to fix the issue is to unwind all the disastrous legislation that was enacted over the past several decades, that was specifically enacted to serve the interests of the wealthy and the financial industry, and that has delivered for them as expected. Even the GFC of 2007-8 benefited the financial sector by the resulting bailouts and easy money that was showered on the banks and that led to the giant asset everything bubble that has developed over the last decade.

[@danielalonzo7445]

I live in California and these are the 3 reasons homes are unaffordable in California. 1. Proposition 13 2. Impact Fees for new homes 3. Foreign buyers Solution is simple Do away with proposition 13 Do away with impact fees Enact a foreign buyer tax of at least 20%

[@csten9784]

You do realize a lot of seniors rely on prop 13. People who bought their homes in the 1950s and 1960s. Most of them can’t afford to move. Most are black and Hispanic. Just saying that this ideology is controversial as it contributes to gentrification. You will have a whole sector of people who will be displaced. These are old seniors who don’t work. But receive a small amount of government assistance to pay for their bills and they generally own their homes outright. If you increase their property taxes they won’t be able to afford the homes they own.

[@marycollins8215]

Thank you. Those of us who have lived the years know it is different.

[@shirleygriffin7672]

True and thanks for sharing

[@BlueWaterSTAX]

Most home sellers or buyers. Know a real estate agent in the community. Thanks Todd. Happy Holidays 🎄⛄🎄⛄🎄

[@SachsRealty]

You aren’t kidding 😓. Happy holidays to you too 🙏

[@jad1079]

Todd is not happy about people only interviewing one agent.

[@rudycammorata3502]

People hung themselves...day trading houses bidding them up sale after sale

[@judithgarcia6468]

I wonder if home prices will come down in Vegas?

[@DigitalBathInAZ]

Yes.

[@marylandhousingmarket]

Provocative, great information

[@SachsRealty]

Let’s go! 💪

[@ennz2798]

The system isn't designed for owning... Everything in life is temporary.

[@monero2829]

Even with 20% down, a mortgage will cost more than renting.

[@SachsRealty]

Rents will rise due to insurance and property taxes. Those that rent houses are not protected by homestead tax credit. Unless of course the owners are lying to the government.

[@MDAdams72668]

Median age of buyer 56 they will not live to pay off a 30yr note That alone would result in major market collapse

[@anotheryoutubechannel4809]

Was there a time, and if so when, where multigenerational households were the norm? I feel like that was likely normal throughout history for many reasons. Maybe we are just getting back to historical norms?

[@Wewereneveryoung]

@@anotheryoutubechannel4809 Yes. Nuclear family and the nuclear home structure is relatively new. Before then we lived multi-generationally

[@freelikesummer931]

Honestly, I just hope they start remodeling empty office spaces, so I can maybe buy a 20 square feet 'apoartment' 😂

[@freedyorozco8451]

I buy 2-3 homes a year 🥃🎩

[@MasterRoss-sn7dl]

First it was a housing crash and now it’s so unaffordable those p who listened to this didn’t buy a home

[@TroyHanson-ch6nm]

I been in the trade since 1981 paint contractor. Only time i see hiccups major issues is when a Democrat holds power. 2008-2016 all 8 years fully corrupted. 2020-2024 same guy involved 4 more failed years. There is not any real middle class left i work residential mostly now as new construction is a waste of any painters time with all the corruption in the trade /(builders want cheap) i wont do a job unless its done proper or it cannot warranty it etc

[@journeyman378]

Trickle down economics is a disaster for America. I'm just waiting for things to break open.

[@talkingonline821]

Translation: Tricky financing at ultra low rates for cheap easy money since the 2008 recession has created the largest real estate bubble in world history.

[@stoveguy2133]

My house is paid off. I want to buy a new house. Same price. I will have no mortgage. That’s good, right?

[@thierryteirbrood621]

From Belgium: “Happy 2025! “ Nothing is certain except that I will continue following this channel in 2025!!!”

[@RationalEgoism]

I'm renting in Nashville in that price range. Coming from the Seattle area it didn't seem so bad.

[@bobconder3163]

2025 = Don’t catch a falling knife

[@enthused7591]

The market wasn't destroyed in 40 years, there was an 80s bubble, then is crashed in 1990 and you could afford a house for 2x your annual salary, then there was a bubble in 2006 and it crashed in 2008 and you could buy a home again for 2x your annual salary. Now we're in a bubble again, 20% larger than all previous bubbles. Guess what happens next?

[@grumpydave7329]

the education system took ~ 50-60 years to destroy.

[@earnthis1]

You didn't mention CORPORATE HOME BUYERS or Hedge Funds. 574,000 houses are owned by hedge funds. Is that not significant information for you? I wonder why.

[@andrewleyba22]

Why do I see ads in Chinese when I watch your videos ?

[@buckleysangel7019]

@@andrewleyba22 are you using a vpn?

[@CalebAbbott-z4k]

I wonder if the stats will inverse with single women and single men if a housing correction materializes.

[@CorporateShill66]

In Canada, we have 20 Indians per house.

[@pamjames6769]

Real eatate agents price homes low just to make it easy for them. Interview, interview your biggest asset.

[@TheExtaliber]

im just so glad we didnt buy in 2022

[@TroyHanson-ch6nm]

How about you tell the customer how bad the quality of products have become nowadays vs 1995 even. Most builders use boxed cabinets now i don't rarely see any custom cabinet anymore. Most are thin cardboard garbage. Here is a tip for anyone looking to buy a new home. Do not accept cheap boxed cabinets you will be replacing them within 15 yrs max. Only buy from builders who use custom real wood cabinets built by a local shop.. If you get sucked into q boxed cabinet deal you lost 10k easily that cash goes right into the builders bank account. This 1 item can raise or lower your value by 15k easy i am a painting contractor and i know all the builders tricks how they will rip you off blind

[@lisaknudsonlcsw3730]

Who would you recommend? I'm in the Southeast.

[@SachsRealty]

Builders installing junk cabinets with granite countertops 🤮

[@stephengeorge3507]

I worked like crazy for fifty yrs,but grew up 70,80s, ave mortgage rate in early 80s 14 %,in 1981 it was 18 percent, if you didnt have 40,50,grand down payment, they wouldn't even talk to you,needless to say i never bought a house,retired moved from New York too florida 2017,bought small condo,im doung ok,but everything has tripled since moving here,i got 2.9 fixed rate,even 6,7,8,nothing compared to old days. ✌️🙏

[@John1908-vo1iv]

You are full of it. Homes in 1981 were 60k-100k, and a family with one income only and mom staying home with the kids was able to buy a decent home on an average income. No one asked 50k down payment in 1980.

[@CincinnatiKid08]

Todd what happened to your Tuesday night live shows?

[@SachsRealty]

Took a break after four years, thanks for asking. We’re working on a new season we hope you’ll love. Stay tuned.

[@sunshinebuilderfl]

I’d rather live in a van by the river

[@SachsRealty]

You’re not alone.

[@slappypumkineater8226]

My homeowners insurance and property taxes costs me more monthly than my actual mortgage.

[@DodgerBlue909]

You "Buy" a home, but still pay Taxes, HOA , Insurance no matter what way someone else is winning

[@john.johnb_online1438]

I graduated in ‘83. Darn I was chasing women and having babies. A small hand full of bands where trying to warn What was to come. 2020 I awakened. Sting Tears for fears So many signs Is all that comes to mind . Read Creature from Jekyll island 2021. Now I can’t unsee it

[@jackgoldman1]

Things change. Humans adapt. This is known as transformation. Times are better now than any time in history. We are lucky for all the modern conveniences. We adjust price to sell houses. Interest rates change. Very few places in the world have thirty year fixed rate mortgages. We are blessed to live in America. Currency debasement has damaged the currency. IOUs are not money. We are in trouble and will have to adapt. Good luck to us all in figuring it out. No one guaranteed anyone a house or life.

[@TheLastEquinoxJP]

I agree that no one's guaranteed a home, but when the system is rigged to allow anyone, even corporations to buy up basic necessities, you are playing with fire. Nobody is forced to own a home, but it should be an option and you shouldn't have to work more than the milkman did in the 50's just to buy a house. I know some pretty intelligent people in the tech field who have saved up thousands of dollars and still can't live comfortably while their grandpa who worked for pennies doing the bare minimum has multiple properties just from the snowball effect of being able to pay so little from all the mortgages he was able to acquire ages ago. You'd think he would help his grandson out, but a lot of boomers are extremely greedy and you can tell from how they voted to help themselves when they were young and continue to do so even after all they have acquired. And they call our generation the "Me" generation, but I'd argue it started with them.

[@seanm3226]

@@TheLastEquinoxJP You “shouldn’t” have to do this, and you “shouldn’t” have to do that. Blah blah blah. Give it a rest already.

[@usaokusa]

You can create corporation to buy houses like them. No one stopping you. Blame the government with mountain of regulations and taxes let’s alone subsidies money to whoever they want that create inflation and inefficient market. The only way people can afford the home is let’s market compete freely and giving people many choices in life

[@whatthefred]

The greed and or stupidity of Boomers and gen x has given us this trash economy. God they are annoying.

[@backrack01]

Well.. I'll tell you. In my market its the Lebanese Americans. And they have no issue paying cash or overpaying.