Housing Is In Trouble As First Time Buyers Dip Out Of The Market

[@Rachelderp75]

I am a real estate agent in Texas… Kristina you’re dead on about Babs Corcoran. Out of touch does not even begin to describe her. And that is unfortunate because there are agents that look up to women like her… But unfortunately, she’s missing the mark. Thank you for doing what you do and digging in. Thank you for telling the truth and not babying us or censoring reality.

[@cookingwithsquatch]

I retired 2 years ago... looking at Texas. where can i get the most bang for my buck. Single- Male- 48, I am committing 3000 a month to my housing budget. Want to live somewhere with things to do that does not break the bank. Any suggestions?

[@worldlife9834]

Home management corporations must be banned in America. No house should be sold in America with restrictions.. Private property must be a priorities. Cities stopped from raising property taxes because families can't afford it. In my opinion, property taxes are illegal because the property doesn't belong to the city.

[@Bewefau]

Congress was giving the power to tax tho.

[@Outdooracademe]

My first in the late "80's was 42k at about 12% interest with 2.5 acres. We put a lot down, as much as we could, first year was tough but we were so glad we did it.

[@karenjensen2345]

The mall boomer concept in a mall would work great in the northern states. However, you need to also have the walking track, and a fitness center, spa. Also a community center for games etc. it could be great.

[@KristinaSmallhorn]

@@karenjensen2345 we could do all those things.

[@Toolingalong]

It's a real shame how the most basic thing has been taken out of our reach. A friend owns 4 houses . One victorian in renovation in PA with a squatter they can't get rid of, one paid off and two are rentals in NY. They both know they will not be able to retire from their blue collar jobs even if they sell one or two of the houses, becuase they realize it makes no sense to buy back in at these prices. Even this once perfect scenario is dead. We need to get back to basics and outlaw the cooporate predator buying.

[@natehunter2961]

@@Toolingalong your friend is sitting well. What is done is during retirement HELOCs are taken out on the homes as this is the tax free way of getting the money. After death the estate settles the debt by selling the homes.

[@MyWitsEnd190]

The last 2 homes that sold in my neighborhood were sold to people in their 60s. There are no young families or young people burying homes in my area anymore. The past decade has been young families, and now it's the young families selling to the older people, and now there is no one under 50 buying anymore.

[@MF-ty2zn1]

How does anyone afford anything with insurance, mortgage, autos, taxes eating up all the money???

[@empurpledsoul]

First home in Michigan in 1989 was $62,900 . It was a 70 yr bungalow that needed work in small town a far distance from populated areas and shopping. Seems the rate was 10% or so. We were able to finance on one income, I was 28 with one child. We sold four years later for 10k more. And just for additional reference, we purchased a 1982 Mobile home for 13k in a park to save for a house. Apts were 500 mo. Our lot and MH payment was under 200. Today...paid $164K for house in 1/2 acre in Greenville County SC in 2017. Market value today is $300k.

[@highvibrational2007]

2 bedroom 1 bath.... is a decent sized home for a single with no kids!... you can only find those in condos and very expensive townhomes!

[@nickolaslewis4416]

My wife and I resigned to buying a lot of land and getting a manufactured home. We are in the country of Oklahoma

[@KristinaSmallhorn]

@@nickolaslewis4416 it’s not a bad plan. I’d rather have land than a super fancy house with neighbors right next to me.

[@harleydude-xo8pu]

My first home was 99k in 1994, property taxes were around 800 per year and home owners insurance was around 300 a year. Brand new build with a cinder block enclosed back yard. 3bd/2bth 1328 sq ft house, 8000 sq ft lot with stucco exterior and tile roof. Today the house is aound 400k.

[@Kholoured]

My grandmother bought her home, she still lives there, in 1947 for about 30k. She is 97 yrs old. Outside, at the time, Minneapolis, MN

[@hgrimes9824]

I know someone who bought their home in the 70's for 17k and now the state appraised the home and property at over 600k for no reason. There are no amenities, no development in the area, and flooding is a serious problem in their area. They live in a rural township 20 minutes or more from anything. They don't even have a blue box for mail in their area.

[@CDmatt]

The housing, health insurance, college loans have gone through the roof since the government got involved in them in the seventies. Then after the 2008 housing crash Wall Street has caused the housing shortage.

[@debrawithdogs]

My first house was $60K in 1982 in Midland Texas. It was a 3 year buy down at 18.5% interest. Then the value Of the house decreased to $40K so we couldn’t refinance at 12% because we had to come up with $20K. Eventually we got out years later. It was a horrible time and many just walked away from their home.

[@KristinaSmallhorn]

@@debrawithdogs wow. I’m so sorry, I’m glad you got out of it.

[@Jdjdjfhehehd]

It’s easier to get into a rental, paying $2500-4500 per month, than able to qualify and afford homeownership after purchase. I am in Bozeman, MT….middle of nowhere, 50-70% household earnings go towards housing, just for renting.

[@user-ln3bd9gz5v]

Housing is a necessity; not a luxury. A luxury is owning 10 mansions! Luxury tax!!!

[@d.lowery4933]

In 2020, I paid 195k for an 1100 SF rancher in a city. The neighborhood now has new homes for 400k+; most homes sell in the 280-380k range. School system is awful here.

[@KristinaSmallhorn]

@@d.lowery4933 YIKES 😱

[@cetriyasArtnComicsChannel]

155k 3/2 in 2019 florida... its almost 400k right now..

[@lavvnelson]

Early 80’s 120k, FHA >13%, half-acre lot, 2800sf. Zestimate today $621k, lower than a couple of years ago.

[@Kitaeli]

Who is 29 and has money to buy a $500k+ home and put 20% down? Most of the payments for those $500k homes are $3-4k which is a lot if you’re single. You’d have to be making at least 115-120k just to afford the payment, without factoring in student loans, car loans, etc

[@dinowarrior2167]

For over 20 years I struggled to find my first home, now I gave up and live in my car. I make 6 figures, have 700+ credit score and can place more than 20% in cash but modern homes today are paper and garbage and I cant find cheap land in Florida.

[@joedoe4595]

You can afford a home with those stats. Might not be the home you want, though, so it's understandable.

[@JD-co4nq]

What car is it? Comfortable?

[@warrenlucier5796]

My first home was a 740 sq. feet 2 bed , 1 bath, living room, eat in kitchen & 1 car garage under heat & AC. The year was 1975 and price $21,750 + the closing costs. The people that bought it from me 10 years ago (2014) for $100,000 and they sold it this year for $300,000. The home is located in Sarasota Florida.

[@karenjensen2345]

Young boomer here. First house in Basalt Colorado, by Aspen so pricey, was only 104k on a VA no $ down loan, 2nd one was in Chaska MN for 94k My parents first house in 1966 was 23k

[@loveishope4406]

I am not looking to purchase a home but I always watch you. I learn soooo much.

[@KristinaSmallhorn]

@@loveishope4406 that’s so awesome. thank you so much for watching.

[@sapphirexwind]

$500k?! In my area (DC/NOVA/MD) …. That would be a condo here… the most we can hope for here is a townhouse in the future if we stay…

[@terrencemcphail5782]

leave

[@sapphirexwind]

@ you mean move? Well I’d have to break up with my bf to move as he can’t … sooo no. We’re just renting and saving $ rn.

[@freeheeler09]

We built our first home myself in 2,000, a very comfortable, 1,400 sf, 2 bedroom log cabin. We didn’t know hiwto do anything, but we were young and confident enough not to ignorance bother us. We bought the land for $70,00 with savings and $20,000 in inheritance from our grandparents. We then used cash, credit cards and family loans and luck and hard work to build and refinanced for $100,000 at a reasonable rate after completion. The house is in an area that has turned trendy. We sold it for a hundred thousand in profit and now it would sell for over a million. We took some huge risks to build that home. But land and building materials were much cheaper relative to salaries. Far fewer young people could pull off what we did now.

[@-7070]

In Austria they have already done the sort of mall that you're talking about, however it's not a mall it was a building that was intentionally built for the purpose of housing. They're all very nice apartments with a gym, shops, Necessities etc. And the average rent is about $400 a month and if you can't afford it the government will pay for it which is how they ended homelessness Also here Upstate New York I can build my own house since I used to be a contractor however land prices are outrageous here. In my area a quarter acre can go for $200,000 + and even just a few years ago it was only a fraction of that

[@DawnaRo]

We bought our first home in 1968 for $11K. It was an older small2 BR, 1 Bath. 3 years later we sold it for $16K and had a home built for $18K. We sold that home in 1974 for $48K and bought a similar home in another state for $50K. 8 years ago I down sized after losing my husband to a home I had built for $300K. This home would sell today for at least $750K. I have grand children who can't afford a home with 2 of them working and no children yet. $250K plus will only buy them a very old home on the order of what our first home was. Every home is ridiculously over priced where I live in Utah. .

[@zcorpalpha2462]

I paid off a home 🏡 with 2 1/2 acres, so it is possible

[@Cookie-sf6fs]

Hold on your intro is 🔥 I always loved this channel

[@KristinaSmallhorn]

@@Cookie-sf6fs thank you friend. Glad you like it.

[@MF-ty2zn1]

Wow. People have forgotten about 15% interest rates and think 7% is high. Interest rates went down due to the housing fraud of 2008 causing massive foreclosures. The interest rates were never meant to stay low.

[@terrencemcphail5782]

15 percent on 20 to 50k not 500k to 1milly lol

[@mariannerichard1321]

About the RI mall, they say legally they could not have open flames, induction burner should be fine, though.

[@KristinaSmallhorn]

@@mariannerichard1321 oh. That makes sense I guess.

[@juliannebetters5853]

My first home was 72k in Round Rock, Texas. 4/2/2. Payment was under $700 per month in 1998. 😊😊

[@dark.faedream]

I also really liked the idea with the mall, and the purchasable home diy kits! It's just the functionality and convenience I love to see

[@UsterKoolageArt]

In 1992, $75,000 in northwest AZ for a spec home on 1/4 acre

[@KristinaSmallhorn]

@@UsterKoolageArt wow! I’d love a quarter acre or more. I’m in a neighborhood with a postage stamp lot.

[@UsterKoolageArt]

@ postage stamp lots seem to be everywhere and I feel mine is one after moving from upstate NY having had an acre lot in a development. Now I see stamp sized lots with homes on top of each other! Might as well live in a condo, apartment house or barracks. There is no creativity as there once was. Everywhere's a 1950's "Levitt town" just more compacted.

[@warrenlucier5796]

The $500,000 home is a $250,000 home and then someone could actually afford to buy it.

[@KristinaSmallhorn]

@@warrenlucier5796 yup!

[@jgthomas123]

One way to improve the FHA program is to allow borrowers to remove mortgage insurance from their loan once they have paid off 20% of the principal balance.

[@john.pado2336]

FACT; A "manufactured home" is NOT the same as a "mobile home."

[@hgrimes9824]

Make private equity companies stay out of the housing market period.

[@glendaperry6121]

I bought my first home in Kissimmee Fla for 10,000 in 1975

[@hamiltonbeaniecat2826]

its goin to crash if ... those homeowners gets irritated by their property tax and force sell. they are goin to flood the market. it is so devastating what this investors have done to the housing market, buying properties overprice so they get it, it will cause bidding then new comparables then new high property tax. most of the house has 20-30% increase in their property tax. and this is the result of the reckless buying of the investors.

[@KristinaSmallhorn]

@@hamiltonbeaniecat2826 no argument for me on that.

[@hamiltonbeaniecat2826]

and btw this felt like 2006 when We bought our house at 6.6% and over a hundred thousand overpriced.

[@jessicabarone6729]

I think you’re talking about the Providence Rhode Island shopping mall it’s super cool what they did in their 350 to 450 ft.² they have kitchen nets, but no stove because of the zoning. The people seem to be pretty thrilled with their situation. There are windows in all of these units, Rhode Island an awesome state. You should check it out. You have all your shopping little bookstores, coffee, shops, restaurants, right downstairs. And it is a historic old, beautiful mall you would love it.

[@GHE2005]

Yes I would live in the mall condo. Why can't they put windows? How about sky lights? Security will be AI. 😉

[@jessicabarone6729]

Scottsdale AZ condo 1999 $100,500. Lived in it 5 yrs. Some of those years with roommates which I invested their money. Turned that into a rental & bought a different condo for $ 230,000. Sold the first condo in 2008 for $260,000. I took the profit & invested in stocks, ETFs mutual fund. Then 2012 bought a house for $221,000 which is now worth $650,000. I sold that second condo in 2017 for what I paid because of the bust in the housing market. It took time for that price to even get back to break even. I did still make profits because of paying down principle & the tax benefits of rentals. Anyone getting into real estate always buy less than you can afford you need to plan for the ups & downs & need to be able to ride out that market fluctuations.

[@VivianDibala]

First home my age I was 21 years old with husband 2 bedroom 1 bath close to beach 1969 in Pacifica Calif for 23,000 now over 1 million +

[@KristinaSmallhorn]

@@VivianDibala wow! 🤯

[@deborahnagel9011]

nobody has any money for down or reserves ...that's what happens when you take jobs away raise everything .. people are broke and many living on credit cards...and more ..insurance and taxes going up ,association dues...credit card interest rate are sky high also.

[@user-ln3bd9gz5v]

My grandparents had no mortgage and no car. My parents bought their first home for $5k, rented 30 years; then retired in it without mortgage. I bought my first home at 56 y/o for $235k. Eight years later, assessed $335k. No improvements made.

[@jessicabarone6729]

I think you’re talking about the Providence Rhode Island shopping mall it’s super cool what they did in their 350 to 450 ft.² they have kitchen nets, but no stove because of the zoning. The people seem to be pretty thrilled with their situation. There are windows in all of these units, Rhode Island an awesome state. You should check it out. You have all your shopping little bookstores, coffee, shops, restaurants, right downstairs.

[@melanieabbondandolo481]

The problem is everyone thinks they need a 2000 square foot home and can't afford those prices with the interest rates.

[@malcolmsamuel7918]

Car market will follow as well. Everything is becoming unrealistic in terms of price.

[@KristinaSmallhorn]

@@malcolmsamuel7918 cars have come down in price. The interest rates for them haven’t though.

[@JeffUnderwoodRealtor]

American economist Hyman Minsky said, “Stability leads to instability. The more stable things become and the longer things are stable, the more unstable they will be when the crisis hits.” It’s been 16 years since the last major economic downturn. Unfortunately, history says we are way overdue for another correction.

[@user-ln3bd9gz5v]

What percentage of homes are purchased by foreigners! And what is that median price?

[@amosfleetwood1648]

I paid $21,000.00 for my first home. 2 bedroom 1 bath with storm shelter under house.

[@soldieroflove247]

Do you have any recommendations of companies that build modular homes in Florida?

[@jessicabarone6729]

I think you’re talking about the Providence Rhode Island shopping mall it’s super cool what they did in their 350 to 450 ft.² they have kitchen nets, but no stove because of the zoning. The people seem to be pretty thrilled with their situation.

[@elivasquez5976]

I bought my first house at $98,000 back in 2019 instead of renting at 21.. whew, we dodged a bullet.

[@terrencemcphail5782]

comparing 12 to 15 percent interest on a home that is 20 to 50k is diabolical vs today 10 percent on a 500k house no comparison at all people have 3k mortgage that is crazy.

[@zcorpalpha2462]

Yes / No Beautiful Home 🏡 with 2 1/2 Acres paid off built in 1981 “ Hurricane 🌀 Proof , Wood - Concrete- Metal Frame “ I am age 49, so it is possible I swear, I should start my own KZbin channel in success in “ Dark Times “ But, I do enjoy your channel 🥃🔥

[@user-ln3bd9gz5v]

Property in Osterville/Oyster Harbor (Cape Cod,MA) went for Pennie’s in early 1970s and now worth millions.

[@MF-ty2zn1]

Paid $150k for first home and itvwas considered $25k over market. Now it's $314k.

[@letthetrumpetsound7893]

I like Barbara, but she is "delulu". She is in too deep and will never say anything negative about the market.

[@carlcarter4084]

Property taxes are forever!

[@patriotkieler9750]

Here's an idea. Don't buy a house in a flood zone

[@KristinaSmallhorn]

@@patriotkieler9750 good luck in south Louisiana finding one of those and if you do, still get flood insurance.

[@amandag4940]

Take a look at all the flooding from Helene and Milton in areas that hadn't flooded in 100 years...

[@jeffreycheng5984]

"It's called the American Dream, because you have to be asleep to believe it!"- George Carlin.

[@zcorpalpha2462]

Carlin was a joke 😂 No Offense

[@tonyacoindreau9220]

My first home was a 3000 sq ft home on 4 acres for $105,000. Plan to list my current 4000 sq fr ranch on 11 acres for 1.1 mil. Only if the market improves a bit so we can downsize and build again

[@user-ln3bd9gz5v]

Great Senior housing idea of mall housing. Make units on the exterior walls to allow for windows (safety factor) . Businesses do not need windows.

[@allegrabraun7545]

Love your show! Thank you Kristina. ☀️

[@KristinaSmallhorn]

@@allegrabraun7545 thank you

[@JesterofRichiousness]

The dream is 25 years outdated, its great for those who live from the 1930's tho

[@larentaestamuyalta6132]

Awesome! Let’s make housing affordable again

[@gvon6358]

Kristina, instead of malls, what about creating that environment in empty business buildings or hotels?

[@KristinaSmallhorn]

@@gvon6358 I’d go for that as well. We are going to have a lot of elderly soon that need special housing and if Wall Street has anything to say about it you know it will be sky high as far as cost.

[@user-ln3bd9gz5v]

Corporations do not want taxpayers to be independent

[@glassninja]

I feel like i have no hope of buying my own house unless it comes out of an Amazon box or comes with wheels... Unless I can marry someone who makes as much but probably more than me.

[@KristinaSmallhorn]

@@glassninja I’m coming up with ideas this year to make your dream a reality. No way should marriage be the answer to be able to afford a home.

[@kingnick6260]

Make more money?

[@sindyarenas5758]

I feel the same. That feeling like I have to find someone to marry just so I can afford to buy a house and I make over 100k.

[@glassninja]

@@kingnick6260 thanks for that riveting insight. I have made more money but the goal post keeps moving.

[@sarajean1861]

My parents got a small starter home in 87 for less than my student loans. 57k

[@Chris-zh9nd]

Buying a 500k home for a 29 year old might possibly be difficult? Really?

[@UsterKoolageArt]

Skylights?

[@Bewefau]

60k 5.6 acres California

[@brothernick7221]

Our first VA repo fixer upr $10,700. 1973

[@KristinaSmallhorn]

@@brothernick7221 that is an awesome deal!! Wow. 🤯 I’m impressed.

[@Joce123]

Not relevant

[@GHE2005]

Preppers & people who live the van life hv bought land & build their own house already.

[@steveclark5016]

Mobile homes are alot of times built better than sight built homes, When is the last time you saw a sight built home go down interstate at 70 mph

[@sharlawenger3695]

147,000

[@MF-ty2zn1]

Low interest rates help Blackstone.

[@gweger6425]

In 2010 i had the nicest house I've ever owned built all in for $55 a sq. ft how about that? No way now. Its cheaper to buy than build i would bet. What are your thoughts?

[@ramonaboston3161]

And grocery store...

[@brianhill8974]

Old girl is the problem. First time home buyers can't afford it because she's buying them all up and escalating the price

[@sealtrick2517]

"Aging in place" is woke speech.

[@brendasears9650]

Add another story to the mall

[@user-ln3bd9gz5v]

Inherited wealth= my daughter (35 y/o) and husband (40) were just married. No children. No vehicle loans. He has a home he rents in San Diego (350k/2%) and I will gift my (Mass.) home to my daughter. Inherited wealth. Combined annual income $350k. This is lower-middle class.

[@user-ln3bd9gz5v]

Dystopia sleep pods: minimum wage slavery housing

[@edwinna-u1w]

I've been making a lot of losses trying to make profit trading. I thought trading on a demo account is just like trading the real market. Can anyone help me out or at least advise me on what to do?

[@BobbieSchmitt]

YES!!! That's exactly her name (Georgette Wong) so many people have recommended highly about her and am just starting with her from Brisbane Australia...🇦🇺

[@GleasonRodrick]

She's my family's personal Broker and also a personal Broker to many family's in the United states, she is licensed and a FINRA AGENT in the United States.

[@munipradeep]

The very first time we tried, we invested $1000 and after a week, we received 4500. That really helped us a lot to pay up our bills.

[@Carlasaucier]

Georgette Wong has really set the standard for others to follow, we love her in Canada🇨🇦as she has been really helpful and changed lots of life's

[@MaryamJames2]

YES!! SHE'S MOSTLY ON TELEGRAMS WITH THE BELOW NAME

[@brianhill8974]

You're being really nice when you say she's out of touch. More like ignorant

[@seanm3226]

Who?

[@LucasOlivia-qr2bk]

Thank you Jesus for the gift of life and Blessings upon me and my family.43k weekly profit, Our lord Jesus have lifted up my Life!!!All thanks to Mrs Kathy Lien..

[@KenyyaCamelia]

@@LucasOlivia-qr2bk That's a major turn around. Praise be to Jesus our Lord. Hallelujah

[@KenyyaCamelia]

That's a major turn around. Praise be to Jesus our Lord. Hallelujah

[@BithoraiGaddekar]

@@LucasOlivia-qr2bk But then, what do you do? How do you come about that in that period?

[@FiqueGiuriati]

But then, what do you do? How do you come about that in that period?

[@ChrisSaint44]

Its all big thanks to Mrs Kathy Lien

[@deborahdeist7860]

Like I have said before there are still homes in the coal regions of Pennsylvania for 100 to 120 thousand dollars. Retired and happy with that.

[@articmars1]

Lower interest rates helps her. She aint gotta worry about the principle.