Housing Market Insanity (MORE FREE MONEY PLEASE)

[@Technotranceism]

Where I'm at in Florida, I'm seeing some homes coming down to realistic prices, but there's still many that are laughably still overpriced. The housing market is a joke, and the appraisal committee is an even bigger joke.

[@RootBeerGMT]

My wife is a broker in Florida. She would be the first to tell you that housing is overpriced and only an option for the wealthy. If you are not making at least 250k a year and if you don’t have at least 29% down, you probably shouldn’t be paying 500k for a house. And when you look at the Fred flintstone houses you get for 500k--it’s laughable

[@alyross2850]

I’ve been watching some FL markets, and I like to look at the price history on Zillow to tell me the story of why they are selling. So many were bought in 2022 for X amount, and now the owner is trying to get out without a loss. Some are taking the loss, and about half are still clinging onto the hope that they will get last years inflated prices. But the cat is out of the bag and most buyers know that the majority of these owners can’t afford to hold on indefinitely. Every month costs thousands of dollars and certainly, if the owner doesn’t live there, it’s a huge expense. I also see a lot of homes that were listed for rent and now, up for sale. Tells me the rental market mostly isn’t penciling out.

[@that1redhairedguy]

​@@RootBeerGMT hey an all rock house sounds pretty nice 😂

[@Technotranceism]

@@that1redhairedguy might be where we are headed

[@MM-kf3gq]

We gave power to republicans to keep Florida affordable, they failed

[@SPYDER990]

just stop buying the houses and the cars for this amount of money and this crap will come down! if you buy a house now you are nuts ..youll be underwater in a year..just stop!

[@sylviagoodman6008]

Yep! Keep paying rents of $2000.00 per month!

[@andil.1309]

Rent costs are nearly equal to mortgage and escrow payments. Houses priced around $410k will probably continue to increase in value but likely will never decrease. Also, the cost to build will also likely never return to pre-pandemic costs. Home values will likely increase as the value of the dollar declines. If you wait, you will pay more.

[@fearlessdrop3021]

​@@sylviagoodman6008lest your not paying to fix the place. And how much more can they up the rent befor someone can't or won't pay .

[@windywalling]

@@sylviagoodman6008 Yep. We're renting. No homeowners insurance. No property taxes. In the past year, the refrigerator had to be replaced, three faucets had to be replaced, the blinds in the dining room had to be replaced, this week the shower valve is being replaced--landlord took care of everything--we weren't out a dime. Our Internet and Cable and trash are covered by our rent. 2 br, 2 ba condo with 32'x12' deck overlooking a lake, and our rent is $1200 per month. We're growing food in pots on our deck. We'll wait.

[@MLagarde0425]

@@andil.1309shut up. Dumbest comment ever.

[@deedevries1123]

Most people don't make enough to afford a home, let alone property taxes tripling and home insurance doubling. We are headed for a crash if peoples income does not increase.

[@RootBeerGMT]

Incomes aren’t set to increase. Unemployment is up. Repos up. Foreclosures are up. Consumer debt is up. Cost of living way up.

[@MLagarde0425]

Income won’t increase. Houses price need to go down to 40 to 50% or more. People are broke. It’s a struggle now.

[@billhorn3]

Stop sending our hard-earned dollars to other countries that do not do anything 4us.

[@cfoster6804]

Best comment.

[@SilverDadKnows]

SilverDadKnows here. We are facing a real estate crash - rising interest rates have made mortgages more expensive and reduced home affordability. Oversupply of properties, combined with economic instability and an increase in foreclosures will lead to a sharp decline in home values, triggering a broader market collapse similar to the 2008 financial crisis.

[@CorrineWallace-e2o]

In some markets. Some markets have little to no inventory currently. If it’s a good area people buy there and stay, if it’s a terrible area there is more property available. Haven’t seen many foreclosures yet; watching though. When Warren Buffet sold out to keep cash; it’s an indication to keep some cash around.

[@kdl0]

Who do you think is going to buy all of the cheap houses for cash? Our future landlords, the people with all the money. That's what Gary Stevenson expects anyway, gradually over time. There will be more QE, and they will benefit the most. I don't know enough about macroeconomics but he basically thinks the money on the sidelines is just going to chase asset prices up, once the rates go lower. They can't go higher or else debt will overwhelm us. If they go lower, sideline money would be smart to buy something that has a higher return than debt, so they will buy assets. The price situation cannot be separated from the government fiscal situation. The problem will be that nobody knows what to do, there is no leadership. All I know is that it's coming

[@JasonAldeann-bt4xf]

Yep and thats so the elite bankers can buy the properties up, from their own portfolios in some cases.

[@77sabrina77]

When they start cutting rates, inflation might go up again though.

[@adognamedmoose]

​@@77sabrina77 Agree. Inflation will soar to sights unseen within the first couple of rate cuts. The average family needs rates closer to 3-3.5%. The days of 30 years fixed at 3% are long gone. Then there's rising insurance, taxes, unemployment, and credit debt.

[@darin7220]

My mom bought a house in the 80s for 55K. She sold in 2016 for 220k because she was panicked about the fact that it had lead paint, asbestos in the drywall compound, and an oil tank that had leaked onto the property. Today Zillow says that property is worth 465K. None of the concerns have been addressed. I've driven by the property a few times. It looks much more run down than when my mother owned it. Exterior is showing signs of disrepair, etc. Wow.

[@kellycregeen1393]

WOW THATS CRAZY...OUR BANKS & GOVERNMENT HAS RUINED THE U.S IN THE LAST 4 YRS

[@marybowers6090]

Whoever buys that property has to clean up that tank. I bailed on a purchase because of an oil tank leaking into the ground

[@tunomi36]

Not her problem anymore🎉

[@faithsrvtrip8768]

Credit cards are not an emergency fund. Ever. Saving is a habit best learned when young but it's never too late. I'm proof that it is possible to live within your means. Not easy. But possible.

[@mildred3378]

I agree with you 100%!

[@cfoster6804]

Correct!

[@cosolote]

Hi Todd, My tenant in Sebring Florida pays $1,600 rent and his electric bill is $460, totally crazy

[@notme8438]

He's probably growing weed! lol

[@cosolote]

@@notme8438 😀👍

[@cosolote]

@@notme8438 I do not believe anyone can grow weed in Florida with those electric utility costs, they go bankrupt the first month

[@sscbkr48]

You plan for hard times in the good times, by putting money aside!

[@markobaturan1831]

In times of fiat money putting money aside is not a smart choice. They are pickpocketing you

[@tunomi36]

Doesn't matter what you do with it if it's worthless

[@PS5820-wv7kk]

Stuart! I appreciate you being willing to come on to Sachs, KZbin channel AGAIN! 👏👏👏 I appreciate the conversations Todd explores with all his guests and you did a good job shedding light on what could happen if you didn't help out a "qualified" applicant. To be honest, I never thought about that possibility and you're right negative things could happen. Todd, this is another great conversation that people can really learn from, if they are open minded and can think outside the box that most commission based professionals keep trying to put their clients into. Again, thank you for being different.

[@jeffsurfanderson]

People just need to be patient this just started. The land that I'm looking to buy just dropped 46,000 from August to September. So just wait prices will go a lot lower

[@TheMedicalCodingGuild]

Buyers' agents should be paid a % of the savings they get you. Otherwise a flat fee. There is NO REASON to pay several months' worth of wage to an agent for filling in 3 forms for buyers. Ridiculous.

[@michaelshaw7576]

The basic rule is that agents work for who ever is paying them. The concept of a buyers agent was flawed. They worked for who ever was paying them, to make the deal happen. Having estate agents / realtors working for a 2% rate is about right. Seeing 5% fees is insane. on a $750,000 house, what are the agents doing that's worth paying them $37,500??

[@ALLworldCONSTRUCTIONLLC]

Ya! Give it to your local contractor to ADD $65k in resale value!

[@RootBeerGMT]

Their work is hardly ever confined to one deal. Ask any agent how often someone just pops up, looks at one house and makes a winning offer. There are most often hundreds of hours that go into working with a buyer or a seller. Countless steps in the process. Months and months can go by, answering questions, doing open houses, fielding countless calls, dealing with inspectors, mortgage brokers and customers with multiple personalities.

[@odessajackson4551]

Never trust a realtor to look out for your best interest..the only thing they're interested in is commission!!!!

[@SBTiki]

I agree and I'm licensed.

[@kathylakebergcincinnatirea5274]

its split with a broker so 2 percent is actually 1. did you know that?

[@aaronaaron3408]

The Real Estate her in Myrtle Beach SC is still up. We have modular homes selling for $375k. We have communities being built and lots of commercial land being sold off. I was born and raised in MD and moved to M.B. SC 20 years ago. I knew how expensive it was going to get. The Southerners are getting more upset everyday due to us Northerners moving here. The Southern people are always telling us Northerners we are ruining the market here because they pay cash for their homes, and a percentage is paying full price or over market value. I myself bought 16 acres of land in Marion County for $19k at an auction.

[@oscarellis2563]

In Australia even if prices crash 40% they will just fall back to pre covid boom of 2022, people even back then were already struggling with the prices however now that they're much more people are wishing they'd bought in such a great discount 😢

[@johnathandunker5086]

In politics, our leaders are cowards and refuse to allow pain. When you have a festering wound does it not hurt to purify it? Or a broken arm, does it hurt to reset it? Forcing the economy to stay in this state longer will only make it worse: nercrosis in health. The only way to a healthier economy is to let it reset; let the bubble burst. And after adopt healthy behaviors that lead to a stronger economy. Necessarily removing government intervention. For those that think this is cruel, I remind you that welfare is *not* the job of government; It is a job for community and churches.

[@RankinSmith-cl8dz]

Well said and a very realistic and sober approach. Which is why the govt. will never do it. Pump sunshine and deny and wrongdoing or pain caused.

[@joelballard4955]

I love when brokers say they are in it to help people. You’re in it for the money bro. Just say it. You want the money from transactions. Same with realtors.

[@odessajackson4551]

Amen to your comment... Greed is a monster that the realtors help create.. they eat what they kill!!!

[@billhorn3]

@@odessajackson4551 The higher the price agents sell it for... the bigger their commission, true. But alot of this is BLACKROCK swarming across America, swallowing up VAST swaths of the single family homes that provide moms 'n dads the securuty they need for their kids. Many of those may go to incoming immigrants, as there's plans happening even now 2do just that. Many will get free Down Payments too. Wow, that's a first ( I never got that lucky).

[@robertmonaco5720]

A house on my street was listed for 650K 42 days ago and went to 590K about 4 weeks ago and now it's at 479K as of this week.

[@SachsRealty]

Thanks for letting us know. What area do you live?

[@jimmeyer777]

When someone buys a house two things happen. The seller puts a title on the table and the buyer puts the dollars on the table. The escrow agent disperses the money where it belongs. The contract determines where the dollars go. Why has this become so complicated?

[@SachsRealty]

And so expensive.

[@c.i.1963]

31:15 thank you for pointing this out. That is a part of the lender’s strategy

[@christinenelson6800]

The teavel nurse made an excellent suggestion... legislate in communities a tax for corporate buyers and tax breaks for new home buyers

[@futurekron]

Yes, 'free money', please. I've waited to buy back in in 2025, expecting pricess to go down, so always looking for a leg up (and, believe you me, I'm NOT buying in to expensive markets or new construction). P.S. buying my own solar power system..best thing I ever did. Haven't been connected to the grid for 7 years.

[@sylviagoodman6008]

?

[@Flamespark32]

Even though house prices are still coming down… the houses I’m currently making offers on as a first time home buyer ; I’m being outbid and consistently by what I believe are the baby boomers because it’s ALWAYS cash offers I’m finding out. It’s also not a small overbid. $20,000-$30,000 over is typical still. Maybe it’s just my location in Wisconsin but 5-8 bids is the normal so far. It’s frustrating.

[@annab5090]

I wonder if the agents are telling you the truth?

[@alyross2850]

I think it’s more likely to be the children of the boomers who have inherited boomer money. And maybe some late boomers. But many of that age group are too frightened to move right now. And many are too old.

[@sylviagoodman6008]

Because prices are not coming down! And inventory is low!

[@lolz-f6c]

It’s probably the investment firm owned rental companies. American Homes 4 Rent, My Community Homes, First Key Homes, and Maymont Homes formerly Conrex are the popular ones around where I live.

[@lolz-f6c]

It’s probably the investment firm owned rental companies. American Homes 4 Rent, My Community Homes, First Key Homes, and Maymont Homes formerly Conrex are the popular ones around where I live.

[@ginas9317]

Texas- My car insurance went up $750 for 6 month policy. Switching insurance company. Bought new build home in Mar 2023, Our property value went up 70 percent. Had to protest taxes, got it down some. The CAD couldn’t tell us how they came up with assessed value.

[@c.i.1963]

49:39 preach!!!! What exactly did you do to assist the buyer but feel you deserve 3%?

[@vickiehat1074]

Let the bubble burst…

[@tobyk5149]

amen!

[@cfoster6804]

You better hope your job doesn't burst too! Job loss comes with crashes....

[@tobyk5149]

@@cfoster6804 “hope” is not a strategy. Hope changes nothing.

[@evets1]

I'm of the thought that buyers agency, in a few years, will be mostly online, at least for properties in urban or suburban settings. Probably a monthly fee to access data we sorely need such as geological surveys, hazmat, crime, with sophisticated home valuation models. Fees for more hands-on services. Economies of scale and real value to consumers will shape your industry going forward. Just my thoughts.

[@RootBeerGMT]

Selling property is unique in almost every situation. Inspections. Appraisals. Repairs. Concessions. It’s a very fluid, dynamic and hands on situation that’s not even close to being automated

[@kenny6055]

@@RootBeerGMT says a realtor who would lose commission when this happens

[@ElisaOKeefeSmith]

If you want to hire a buyers agent, are many agents willing to sign a custom contract which ensures they get paid, and that is calculated depending on whether sellers agent provides a percentage to buyers agent or not. Additionally, are flat rates acceptable to be paid by buyer if the seller agent doesn’t provide for buyers agent.

[@kellycregeen1393]

IVE BEEN LOOKING AT TINY HOMES.THEIR PRICES HAVE 3X THE PRICE SINCE 2022

[@alyross2850]

Oh gosh. Is there maybe a second hand market? We’ve been looking at RVs and campers. Here and there, individuals are trying to get out from under them at a loss.

[@10317]

Todd made a great point when he said the house was valued for $150,000 but sold for $650,000…the question never really got answered. It only stands to reason that the property taxes are going to go up.

[@kdl0]

I never used to think this way, but I'm almost 50, and it seems apparent that there is some amount of wealth that lets people in the rich class achieve an escape velocity that allows them to always stay on the winning side, either through the ability to lend, buying treasuries when rates are high, renting out residential properties, or Monopoly investing. The rich get richer, it is the law. Therefore it doesn't matter if this particular bubble or another busts, relatively speaking, the wealth distribution will just continue to get more lopsided and focused. The only way to have any semblance of fairness is to tax the rich, sorry, whether that's through progressive income taxation, property tax on 2nd, 3rd, 100th houses, asset or capital gains tax increases. The trend is people with the money bidding up all assets including housing which is just not right, exponentially increasing their wealth, and growing an increasingly desperate poor class. If the rich want to do themselves a favor, they would vote for higher taxes. It's not about working, you know damn well most of these people are sitting on their asses at computers looking at numbers, call it gambling or arbitrage or whatever you want, but making money silly because you have money is not a job. It's a way to pull one over on everyone else, you're doing a great job at it congrats, you win, everyone else can suffer for all you care. There's nothing wrong with wanting nice things, but there's got to be a blind somewhere nobody needs a 20 million yacht or residence, let alone $200 million. And the super rich who claimed to be charitable are not fooling anyone (I'm sure there's others but at least Bezos' ex gets a pass). And I'm quite comfortable, don't need to work at this point, but I don't have kids, and if my relatives start getting sick, or friends start needing help, what else am I going to do? Rent forever?Don't people have a right to have a fair chance at living a fulfilling life, free of fear and anxiety about being able to afford housing, being able to earn the ability to relax a bit as their body wears out? This is a basic need - it includes health care - and it should not be something people can profit from on the levels that we're seeing. I don't know what the solution is.. but when these corporate machines become unstoppable forces that control government, you've got to just take the money from them. Do any of you really see the trajectory changing? To me it looks like each generation is just going to be less well-off vs the families that have generational wealth. You also have to remove all the loopholes that allow a baby to start out with the wealth of a million folks currently in middle age. We need to stop bullshitting, this has gone on long enough don't you think? Or are we just going to wait until the pot boils over (again)?

[@annab5090]

Spot on but how do we fix this rotten, runaway, greed soaked system? Taxing the rich doesn’t work. It destroys jobs and slows economy because companies leave. You can’t stop a company from leaving either as this would destroy freedom.

[@marybowers6090]

Go research accepted for value. Most likely used by the 1% to maintain their wealth position

[@deannahouston8801]

The young man who called in was wise to prep in early years...even if for blizzard, hurricane. Etc. Also, i bought my first house in 1986 with a friend. I had downpayment and she had income. We drew up a contract between us. We were late 20's. It seems hard for people to compromise like that in order to buy. Hope prices come down for folks.

[@MyWitsEnd190]

I've been saving an everage of 300.00 a month on utilities by leaving the West. It was hard leaving my home state, but I'm much happier, safer, and more than if i had stayed. We were fine until the Californians came and destroyed us. My highest electric bill, using my AC at 72° contantly, has been 150.00 where I am now, out west it was averaging almost 400.00 a month with my AC at 78° in a smaller home. The western states are ripping people off.

[@MrLF4]

Don't forget about the record inflation we just experienced. Inflation adjusted, we are pretty much at 2019 levels. I think the bottom is close for single family. 330k in 2019 is around 400k in todays money.

[@OMADHIPPIES]

As a seller,I would cover the buyer's fee by raising the price of the house.

[@tunomi36]

That doesn't help the buyer since the commission has to be paid at the table.

[@carmendiaz8871]

Thanks Todd for info. And for your guest.

[@SachsRealty]

Our pleasure!

[@gabyoortgiesen2019]

Perhaps I am ignorant, but I don't really understand the need for a buyers agent. In my experience, they really don't "negotiate" anything for you. They are a useless middleman.. Why can't I, as a buyer, negotiate directly with the sellers agent? Like when I want to buy a car. I negotiate with the seller. I don't need to hire someone to do it for me. A buyers agent just doesn't make sense to me. It didn't before the rule change and now it definitely doesn't!

[@AlmaMelvin58459]

Well I don't like to negotiate, will you do it for me? I'll pay you a fee to. The lower the price you get for me the higher your fee. Bam

[@kenny6055]

@@AlmaMelvin58459 I agree. She said when she buys something not when you buy something. It should be optional, not required. Just a scam by a used car salesperson, oh wait realtor. They are pretty much interchangeable

[@natalieoj3078]

Given the choice I'd rather not have to work with any agent at all. Why? I don't trust any.

[@excelcsllc]

Why do i need a buyers agent when i can call the listing agent directly???

[@judithstapleton74]

In Canada both buyer and seller must have an agent, and they split the commission. That's how I understand it.

[@vickiehat1074]

Glad to be here wishing it was with better circumstances

[@Smuscles7]

Went to a couple open houses in SW FL this weekend to get some sediment. Realtors still either clueless or just ignorant and trying to get that sale. One house was brand new very overpriced already 150k reduced price from 950k to 800k on market for 190 days. Realtor kept pushing great time to buy now. bottom is in. rates drops coming etc etc etc...

[@Metaphysics-for-life]

I use zero interest cards to pay for yearly payments like car insurance or filling the propane tank. so I can keep money in things that earn interest while I pay over time. I always have enough to pay the card off if I want to, so there's very little risk and I'm earning some money... well, maybe keeping up a little with inflation 🙂

[@11dragonflies]

I love these interviews and videos! New rule: You have to buy houses with cash. No credit cards. No mortgage. That might fix the problem

[@eddieloujones2673]

That's what I've been saying. House prices will drop like a rock. You won't have people buying multiple homes when interest rates are 2%

[@infamouscraze6059]

Some people in Canada where I am their mortgages doubled from 3 k to 6k because of high interest rates and some are paying for their renters to live there

[@james-5845]

I've been curious what people thoughts and opinions are on building. My wife and I both work and have zero debt but still rent a house. We've been saving because we want to build and are in ohio, I do alot with the markets but when it comes to real estate not so savy but have been learning all I can these past few years. If we get a major correction/crash what has history showed us say with the 2007-09 crisis etc. We see current prices starting to fall in certain markets, here it's so so but builders have been raising prices. Does that game change or will they eventually have reductions or could a client be in a position to negotiate? How does that side of things work for people who are interested in that side of the market and trying to be patient? Much thanks!

[@fernandothehandyman]

Wow those price are super low for good neighborhoods in MD . That’s what it cost in Watts LosAngeles to get a house 🏡…

[@lolz-f6c]

I paid 100k for my house in 2011. Now the houses on my street are selling for over 300k. I don’t know where all the people buying these houses are coming from. They’re not locals and the investment firms aren’t buying all of them. They’ve switched to building entire developments of houses to rent for $2500-$3000 a month. I can’t imagine throwing away that much money on rent every month, it’s insane.

[@SachsRealty]

Thanks for your comment, where do you live?

[@ElisaOKeefeSmith]

The spec locks keep assessments high. Terrible. If home prices come down 30% I’m in. I refuse to pay the bloated prices now. No rush, I already own my own home with fully paid off mortgage.

[@tmdrake]

Might one last time in my lift to invest in my future....i love derg collecting....but property is better.

[@aaronaaron3408]

My fiancé was it a real bad car accident last year. A Hispanic couple had lend their car to a friend who was intoxicated, and so he was driving and hit my fiancé head on nearly killing her. She has over 2.3 in medical bills and can't work a job. They have assets but are hidden on paper except their home. My question is how does a couple that works under the table for a contractor get approved for a home loan for $240,000. The couple's names are on the deed and no one else. My fiancé's attorney said he doesn't know. Any help would greatly be appreciated.

[@davegray-zz9sz]

Thoughts on Congress forcing Fed to offload MBS holdings

[@darkgalaxy2099]

Down here in Florida most Real estate markets are way way over priced and no one but the rich can buy them but all that has changed in the past six months I plan on buying next year when everything crashes!

[@eduardomendes5220]

People said the same thing during Covid and them in 2022 and now in 2024.There are several people in the sideline as you witn a lot of cash just waiting in the sideline. I know a few silent Milionaires waiting in sideline as you are , some have a list of property waiting to go into foreclosure and they have the cash to buy a few properties. Good luck 👍

[@RootBeerGMT]

@@eduardomendes5220smart money is in a holding pattern

[@MLagarde0425]

Same here waiting with cash

[@jefferyedwards5003]

Todd, I am a realtor/broker in __________(fill in the blank) and my house on this one specific street has not a had a price decrease. You do not know what you are talking about! Granted, it is at 405 DOM and no foot traffic, but there is no price decreases...only up,up,up doomsayer! (SATIRE)

[@jefferyedwards5003]

31:45 (PITI) pity you can't afford that overpriced house that you just bought, because I, as a lender/broker/realtor, did not educate you about the increase on insurance and taxes that you are now responsible for.

[@compassconcrete678]

Its all relevant...if you sell your house lower so is the next house your going to buy in a down market

[@williamtherambling3334]

good old bright, i remember as a kid my dad had an office and he had the weekly listing books here in NJ.

[@Gustav641]

The prices of houses will inevitably rise, except for those occasional market disturbances when the trade doesn't even do much. This is largely due to the fact that budget deficits are covered by printing new money or taking debt money, which then leads to inflation, i.e. a decrease in the value of money. Another thing is that some people with low incomes end up borrowing money to live on, paying 50% interest per week. It is confusing how such money lenders always come from somewhere to people who are struggling to make ends meet. This especially to people who are also addicted to alcohol or drugs. These people get hooked on this kind of debt cycle, and end up recycling all their small income through these money lenders.

[@RootBeerGMT]

Well, the thing is-regardless of the fiat printing scam-unaffordability will take its toll.

[@stephengeorge3507]

Had a small condo in westpalm beach,bought cash,2015,got a mortgage, my first mortgage and bought bigger condo,after retiring, 2020,big mistake, hoa went from 200 to 550 and counting, insurance went up four grand last yr,two story bld in lakeworth beach,ten thousand in assessments last two yrs,time to count my losses and move on,I'm a utility engineer, all electrical upgrades were useless,especially putting in new cheap hardware from china,I had brand new door,best door I had,fit like glove,not hurricane standard, another thousand, new hurricane grade AC stands ,another hundred grand,there are only twenty units in My bld,so everything split only twenty ways,electrical work was another hundred grand,being in field for 40yrs,all the work,did not make bld safer or any better,I think it made it worse,most the parts are cheap crap from China, not an old General electrical contacts,which last forever,it's just a money grab,55 and over,the people that can afford it the lest,are getting hammered, most the old ladies are bullied and intimidated into voting on it,it a mess,and 2025 it will get worse

[@joannamiller750]

Those numbers look low compared to homes for sale here in the Northeast…

[@bmw803]

Hey Todd. PEOPLE LURED THEMSELVES into big debt. Sure, there are exceptions, but in general many bough over priced everything with $$$ they don't have. Banks are there to make money and they're capitalizing on undisciplined consumers. very lucrative business.

[@10317]

I don’t think they should cut the rates. We need a harsh recession to knock down the overpriced housing. And the government should stay out and let it clear the crud out. No more bailouts

[@enfoquefitnessyfinanzas3976]

My 19!year old saved over $60k and currently in escrow. Purchasing duplex and house hacking. Sacramento CA

[@jeffsurfanderson]

Yeah so nowadays because things have gone up so drastically you need to realize that you should only be spending 25% or less of your monthly income on your house payment

[@jeffsurfanderson]

He says he's an optimist period in this market you need to be a realist. If I had clients I would ask them do you want to catch a falling knife. They would obviously tell you know and now is not the time to buy you need to wait. Unless you're willing to play that low ball game and just go in in negotiations at 150,000 less than what they are putting their selling price

[@caryngildea6225]

How these homes are appraising in a market that is going down in price is just beyond me!

[@RootBeerGMT]

Appraisals are historical in nature. The number they generate are out of date as soon as the printer hits the paper. The fact is almost all real estate is 40% over priced. Sellers have missed their exit.

[@1powerequalsgod]

There is massive appraisal assessment fraud scamming across the country where you have to go deep into the procedures and comps to see where this is a local and state problem with property taxes.

[@1powerequalsgod]

@@RootBeerGMTexactly, I been saying the same that most sellers are facing the ship sailing will dropped the ball by delaying and procrastinating. There is no shortage of Silent and Boomer retirements to talk about an the number of homes they have that will eventually come to the housing market up for sale at least 30 years old that are dated needing work. These older adults are going to need financial help with the sale of these homes addressing long standing home improvements and maintenance but will lose money on these homes. Both the Boomer, Silent and Gen. X are living in the neighborhood communities are often at the end of the peak years earning cycle are living with no children under the age of 18 as empty nesters are thinking about ending home ownership in record numbers. That is saying “wow” I may have to rely on the young adults who are first time buyers an there are not enough of them seriously looking at buying anytime soon because they have low qualifications or no hetero sexual partnerships or in the stages of developing relationships that two income or greater to take of 30 to 40 years of month to month mortgage payments. Infact, most people actually know the math doesn’t match the biological and peak years earning cycle could face serious consequences with the price of these homes want to see massive price reduction and quick payoff timeline that are realistically possible. The age of the first time buyer should be in there very early 20 something years if they can take on a 30 to 40 year mortgage loan not 30 and 40 something years. In today’s world the math doesn’t pencil out where things are realistically financially possible. The home sellers are going to have to adjust to this reality.

[@Reutzel507]

It’s nice you brought Jefferey’s brother on. I bet he misses his brother.

[@kentuckycowboy7660]

❤❤❤ can’t wait for house prices to drop. A reduction in property tax would be a hell of a bonus Heck priced back to 2008-2010 prices would be even better. That would cut though ms taxes alone over 60% and my homeowners insurance would drop properly a $1,000 annual. 🎉🎉🎉🎉

[@triciab7750]

Black Rock will benifit from this. Kamala is Black Rocks sweetheart.

[@timeforachange-i3s]

Give $150,000 in free money to first time homebuyers. I have a first time homebuyer home and it just went up $175,000.

[@kenny6055]

One segment was titled "Storytime" was definitely a "story". In the 70's poor guy took you to tour 40 homes Stuart then you found a FSBO? Poor guy who had bills to pay, has to keep 6% commission on other homes he only showed once. This is the 2020's not 70's, all homes are online with data, pics and in case I am wrong we all have bills. I dont mind paying for an honest days work but agents fees are so high that one agent on here ROOTBEER compares himself with MD's and attorneys. I have 2 MD's in my family and one attorney and I assure you there is NO comparison, not to mention time and cost of school. How much time and cost for realtor license? Yep, they are the same, right? My experience so far with listing/buyers agents has been they are like used car salemen: dishonest, deceitful and untrustworthy. Anything to bring a commission like Stewart said "agents have bills to pay". If we have a housing crash, I am not how but agents trustworthiness will probably be worse. Buyers beware

[@ALLworldCONSTRUCTIONLLC]

Good show. Preach

[@MarkG-h2y]

I own a $1.2M home in Northern California fully paid off and I'd like to buy a second home in Maui for $1 to $1.5M which will use about 1/3 to 1/2 of my retirement funds. I do not intend to sell the California home so I'm less concerned about the loss of value in that market . What are your thoughts about the housing market in Hawaii over the next 2 years ? Does the Maui market mirror the Oahu/Honalulu market which could see a 4 to16% drop?

[@ALLworldCONSTRUCTIONLLC]

I went and have been watching since the fire. Due to demand and limited supply I don’t see prices dropping a lot. Maui decoupled from other island prices after fire. There are more whales looking to buy in

[@dews3340]

Thanks 😊 for sharing. Sharing immediately this video. Remember to watch the Ted Broer, pilot, certified scuba diver and CEO of Healthmasters and Austin Broer his son based in Florida. Boom and boom. These guys are amazing too..... Good night 😴 it's late here

[@SonyaElaine]

What blows my mind is the lengths that the powers that be are going to in order to manipulate the markets. Market manipulation has become a fine art for these people. It’s very dangerous.

[@SachsRealty]

When it’s not a simple affordable transaction… 🤔

[@AngelEyes-xm7el]

How about helping the elderly living in the woods , cars . I am one of them. 22 people here tonight . Across the street 13 elderly.

[@SachsRealty]

🥲Where?

[@marcmiller722]

Don't worry Chameleon Harris will fix everything while we eat hot water stew for dinner !

[@KD-bo4wq]

Utility has gone up 60% Due to delivery fee!!! Doesn’t make sense🤨🤔

[@gvon6358]

Can someone address the advantages of all cash buyer vs ones who's already pre-approved, pre-qualified, and pre-guaranteed? I honestly don't understand what the appeal is with having a cash buyer when the seller's going to get their money anyways...

[@trina2100]

It's a faster close, you don't have to deal with the banks, etc. Additionally, when a buyer has to get a loan all they have is a pre-approval letter which doesn't guarantee them the loan. They can have things come up in underwriting, they can find out their interest rate is higher than they expected or they have PMI etc etc and back out the deal...alot can go wrong meanwhile your house is off the market. I've bought and sold about 10 homes mostly all cash on both sides and it's a much faster and smoother process when you take the banks out the mix.

[@kenny6055]

@@trina2100 thanks Trina

[@jJ-pq4tk]

So how do they justify that increase ? Except thievery.

[@MarilynOhearn]

Mine went up 100 percent

[@backrack01]

Cool. Bring all the homes back in the spring.. along with every other seller. Lol

[@champstar9669]

Caller: "I make 90k/yr and I can't afford to buy a house." Simple solution: MOVE to a more affordable area.

[@kdl0]

What I want to know is why is the sales data gate-kept? Brokers have us over a barrel, I can't do any research without them, and on a basic level there is a conflict of interest for them to help me have that information because they make commission on the price. I've tried to get two agents to let me have certain access to MLS search filters and they won't even reply to me. Are there any other systems that I can pay for to do my own research

[@RootBeerGMT]

The MLS shows you the house and it shows you the price. Those are the fundamentals. You have questions, get an appraisal and have it inspected. To suggest that there is vital info that only real estate agents have is laughable

[@kenny6055]

@@RootBeerGMT What is laughable is real estate agents like you insulting potential buyers/sellers. I wont be using an agent ever again if possible because of agents like you laughing at others trying do our due diligence. Some of us like to work for a living, it's called sweat equity, try it some time. If I sold my home(2.8Ksf, 100' lake front, 2.5A, 1.4Ksf guest home, 1.8Ksf garage)realtors would easily steal 1/10 of the sale, probably $100, 000 for what bringing 1st buyer to my home who pays full price? I can easily post my own ad with min sale price, show the home to a buyers and choose highest offer. Lets see, hum... $1.3M is more than $1.25M, that was difficult. Bank and title company are willing to help through the process. Real Estate agents i have met including you are like used car salesmen which is why I avoid dealers when purchasing vehicles.

[@joaultman]

Prices in Florida still way overpriced, the codo crisis will be interesting. Will people flip to home or just make the same stupid mistakes and buy another condo

[@auggieoutdoors3325]

Florida condos are rapidly becoming massive liabilities to their owners.

[@fearlessdrop3021]

The guy that called in has a realistic veiw of the market atlest prices just need to come down.

[@BTCforce]

Home ownership is a scam

[@jamiemolette9348]

It's the currency at the root of all this. Once you start looking into this your perspectives will shift. There will some kind of reckoning very soon. There is no unit of account in our system at present.

[@jgledbythespirit]

I'm watching your video and listening to you say how much other people are saying there are utility bills are specifically electricity. $400 hundreds of dollars. I live in California and I have to rent because I can't afford to buy a house and I'm 53 years old. So I have to rent and we are you know choosing a area that we would like to live to be centralized for the five people that we have to live with to afford a rental here in California and our electric bill to keep it at 76° in this how over 100° weather is $1,200 a month. Yeah help please lol😂

[@derekbarcial6358]

Do you only discuss the NE part of the country?

[@SachsRealty]

No we’ve covered many parts of the country. Last week we discussed Chicago and California. What area would you like me to discuss? Maybe I’ll cover it next Tuesday.

[@Vitality205]

@@SachsRealtyWestfield, MA and surrounding areas

[@percywillis]

$400 electric?? Time to start selling solar panels.

[@ZerahBereiter-b2k]

Post to podcast please

[@1powerequalsgod]

The housing market has to decline because there is not enough heterosexual married couples that are highly qualified to purchase these homes across the US that can take on 30 to 40 year mortgages an have the homes paid off by the traditional retirement ages in their 60 something years. That is the primary supporting evidence that required to purchase a family unit property the home owners that are more likely to sell are also owning homes that are at least 30 years old look dated and need work to get them up to code per se. There’s also the problem with more older adults with money problems facing them who have to eventually vacate the where they calling are running out of option need to eventually seek caregivers which they won’t have them because they can not afford them.

[@Nelson-v7x]

Wait, what? I'm just here for the free money.

[@jeffsurfanderson]

When you say that these Realtors are putting people in houses they can't afford that kind of reminds me of a specific time kind of like the GFC. Are we trying to create that again if we are what the f*** is the point of that

[@williamchurch9768]

No. The chicken came first by God's creation. If the egg came first it would not hatch. Fun issue given the depressing issues of our time.

[@OlgaAquino-sl4ly]

The rug was pulled out from under us with the rapidly rising interest rates. Stop blaming the consumer.

[@PS5820-wv7kk]

Wrong. The "interest rates" should have never been that low in a free market. Gov. spending has been ridiculous! It is the consumer's fault just as much as the government figures in power. Consumer's went over asking price, they didn't get inspections. They went along with inflated prices on houses because of FOMO. (Fear of missing out) If you went and bought a car with square wheels, would you take responsibility for how rough the ride was? After all you bought it with square wheels instead of round wheels, right? Just something to think about.

[@rc333]

​@@PS5820-wv7kkspot on! People making 75k a year buying 400k 1500 sq ft homes in my area in rural Maine has made me laugh. Absolutely insane!

[@HVACMAVERICK]

@olgaaquino-sl4ly I’m a consumer also. The rug was only "pulled out from under us" for those who weren’t paying attention. It’s on us as a consumer to make the best decisions for our futures… There has always been snake oil salesman, but that doesn’t mean we have to buy from them.

[@eplugplay8409]

Harry Dent is batshit crazy.

[@cdawg9149]

Interest rates need to rise. Simple as that. All this talk talk talk is a waste of time. Equity is drying up and the equity that has been drained from the last 3 years needs to be paid back with interest.. Those credit lines , equity loans and 2nd and maybe in some cases 3rd mortgages now need to be paid back. The rich, like you two , will need to use all your cash for future investing because you 2 are to cheap to pay extraordinarily high interest rates. You are used to using the banks cheap money which in turn creates inflation.This will force home prices down at least until the fed res lowers interest rates once again and the out of control inflation cycle starts all over again. Like Ron Paul said, END THE FED and we wont see manipulated mkts.

[@comeon_man]

mortgage agent more bs patting his own back

[@Annajsee]

2:56 yup 🤬