My Thoughts Just Shifted On The Housing Market

[@JebSmith]

⏩You Are WRONG About The Housing Market - kzbin.info/www/bejne/laSvg4qHhbqblcU ✅Work Directly with My Team (Mortgage and Real Estate Nationwide) - www.jebsmith.net/referral 🏠Everything You Need To Buy Your First Home - bit.ly/4clhsse

[@Moving.To.Charleston]

Yes Jeb, buyers should definitely don't take a broad headline and apply it to every local market.

[@LoydJohnson-kp3jv]

For buyers, more inventory and price cuts mean more options and potentially better deals. If you’ve been waiting for a less competitive market, this could be a good opportunity to find a home without getting into a bidding war.

[@AliciaCrone]

That’s true. More inventory means more negotiating power for buyers. You can take your time and not feel pressured to jump on the first available property. And price cuts could lead to more affordability in some markets, especially where prices were overheated

[@christopherherbert2407]

there’s a lot of uncertainty about where the market is headed. Just because prices are coming down now doesn’t mean they’ve hit the bottom. If you buy now, you could see your home’s value decrease further if the market continues to drop. Also, with rising interest rates, monthly mortgage payments might still be high, even if the home price is lower

[@cherylhills3227]

That's a valid concern. Buying now might seem like a good idea because of the price cuts, but if the market continues to decline, it might be better to wait and see if prices fall further. The rising interest rates also add to the monthly cost of a home, which could negate the benefits of a lower purchase price

[@DianaTownsend-kj5kj]

And for sellers, this market shift can be challenging. Homes might sit on the market longer, and sellers may have to lower their asking prices to attract buyers. If someone was counting on a certain profit margin from selling their home, this could affect their financial plans

[@RandyColby-mj1zm]

That’s true. Sellers might need to adjust their expectations and be prepared to negotiate more. It could also mean putting more effort into making their homes stand out, whether through staging, renovations, or marketing

[@alexsteven.m6414]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@mariahudson9939]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@Tanner-c2m]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@PremSteve-yg4de]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@Tanner-c2m]

She's known as “Rebecca Nassar Dunne”. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.

[@antoniaribeiro8073]

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

[@damiandmb2092]

Its just not home prices, its inflation too. Cant save money if you cant even afford day to day needs, gas, groceries etc......

[@JebSmith]

The good news is inflation is continuing to come down, the bad news is prices are not likely to come down. people often get the two confused, they think because prices are still high that inflation is still a problem, but inflation is the rate of change in prices whereas prices are exactly that, what something costs.

[@isabellugo2500]

@@JebSmith inflation is continuing to come down???? I continue to see prices go up and up. But I guess if you say so or the government says so, it must be true. Our everyday struggle is not real.......

[@waba6257]

I have to agree with isabellugo, they might say inflation is coming down but in reality here in California, gas, food, insurance, water, garbage, ELECTRICITY, everyday items, have not gone down one penny, they actually keep going up. That’s like when Don Lemon was intervening ppl on the streets and the guy told him he had more money in his pocket when Trump was there and Lemon said the economy is actually better, completely clueless. Liers

[@xianx1866]

⁠@@isabellugo2500lol …you are so confused.

[@michaelthomas229]

The housing and rent is the main problem period

[@hunterweber2463]

I’m waiting for prices to come down. It’s not the interest rates at this point. There are no 2 bedroom 1 baths in my area under 250k as someone who makes 75k a year this is still out of budget. Prices need to come down

[@etboyd04]

@@hunterweber2463 prices will come down this fall and winter, but inventory will also be lower.

[@livingthedream923]

As a buyer, I don’t care about interest rates at all. I can always refinance later. My only concern is sales price.

[@UrbanMonk123]

@@livingthedream923 yes they are still too high.

[@Dec9779]

@@livingthedream923 that’s a too simplified view. If your house value decreased when you’re ready to re-finance you’ll face a loss if you do so.

[@russellmusictv4403]

Marry the house, date the rate. Absolutely.

[@eltonvance8331]

@@Dec9779 thank you for proving the point.

[@Dancing_Alone_wRentals]

I would tell people that it insn't how many homes you own, it is the interest rate. My vote would be to buy very small when the rates are high.

[@KevinCollins-kg5hl]

recently sold my house in the Sacramento area and I'm interested in investing my lump-sum profit in the stock market. However, I'm hesitant because of the current state of the housing market. The long-term decline in property prices is impacting many people, and I'm wondering if now is the right time to invest in the stock market before housing prices start to rise again. Should I buy now or wait? suggestions would be appreciated

[@donhug-q8k]

Safest approach i feel to tackle it, is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert

[@Turk-hy3wz]

It's true that many people underestimate the importance of experts until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to over $850k regardless of inflation.

[@KevinCollins-kg5hl]

Who are you working with please?

[@Turk-hy3wz]

The decision on picking an Adviser is a very personal one. I take guidance from ‘Monica Mary Strigle‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@KevinCollins-kg5hl]

Thanks for sharing. I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me

[@WhitneyRoss-dj4rf]

I'm eagerly anticipating a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also thinking about investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen substantial trading profits, but there are worries about the market's instability and the possibility of a dead cat bounce. Can you explain why this market phenomenon happens?

[@ChloeCarter-kd7gz]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@LeahLewis-ny9iu]

not making mistakes; you just don't have the know-how to profit in a tough market. In such challenging times, only highly experienced individuals who went through the 2008 financial crisis can anticipate making significant profits.

[@ScottLarrry]

Lately, I've been thinking about reaching out to consultants for advice. I'm at a stage where I could benefit from some guidance, but I'm uncertain if their services would truly be beneficial.

[@LeahLewis-ny9iu]

Desiree Ruth Hoffman, my CFA, is well-respected in her field. I suggest delving deeper into her qualifications. With her extensive experience, she serves as an invaluable asset for those seeking guidance in the financial market.

[@ChloeCarter-kd7gz]

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

[@Abdul-nt9uk]

I am a buyer in WA state. Every open house I go to there is nobody and I see houses staying on market for a very long time. I am in no rush to buy until these sellers get realistic about pricing. They think it’s 2022. People also think that interest rates going lower are a good thing but fail to consider that when the fed cuts interest rates it means the economy is in trouble. The Sahm rule has been triggered and the chances of a recession after the election are very high.

[@xianx1866]

Greedy seller greedy buyer….same same.

[@mle3857]

Exactly, but realtors like this guy is telling people how strong the economy and housing market are..

[@500stoney]

After you can no longer buy, you'll wish it was 2022 again. Have fun spending your life as a peasant/renter

[@Abdul-nt9uk]

@@500stoney We have more than enough to buy a house in cash right now. It just doesnt make much sense. Wishing you much success in your life.

[@Ikamcmorris]

Stay away from WA.

[@brucebarr6542]

PRICE IS EVERYTHING. Price of homes went up more than incomes, so either incomes must rise by a lot (AND EMPLOYERS ARE NOT GOING TO DO THAT), or sellers must drop their prices to match up with everyone's incomes. It's that simple: PRICE IS EVERYTHING!

[@JebSmith]

Price of homes and wages don't need to go up at the same rate. Wages are only 1 piece of housing affordability and they are still increasing. The other outside of house prices is mortgage rates...........as they come down, housing affordability with improve, not significantly but it will improve.

[@brucebarr6542]

@@JebSmith interest rates have come down and people are not running to buy. If you take the time to read the comments, IT'S THE PRICE NOT THE INTEREST RATES THAT ARE STOPPING PEOPLE FROM BUYING.. Inventory has increased and will continue to increase plus homes are sitting days on the market longer and longer until people sell homes at prices that commensurate with people's incomes. PRICE IS EVERYTHING IN THIS ECONOMY. Please be on the level with folks and tell them you earn no income unless you sell, sell, sell.

[@AmerPridexxx]

​@@JebSmithin Florida we're getting squeezed with huge insurance cost increases (and property taxes because of the rapid rise in home price sales). Then there's the condo crisis insanity... I'm sure you'll be able to find deals already, if not very soon.

[@Ultrajamz]

As a potential buyer, waiting to see more price cuts. Dfw area. Rates don’t interest me as must. Price is what matters.

[@JebSmith]

Price is key.........having a longer term time horizon is also very important.

[@discreteentropy]

I just closed on a house because it was the right house and I can afford it now; I don’t think housing is going to get more affordable in a meaningful way in the short run. Plus, this is my primary residence so I view it more as a consumption good as opposed to an investment good. And great video!

[@JebSmith]

Congratulations.........That's the perfect time to be a buyer.

[@familyg7]

Im waiting to buy a house until I can see that I can afford the monthly payments. I have no debt, only one car loan, and the house mortgage isn’t in place yet. Between my wife and me, we earn about 100k, but I still can’t afford a home on my salary.

[@JetJ321]

I think that is very smart. Just keep saving and look around where you want to live. If so many people are losing their jobs, it's all over the news, there will be deals to be made

[@privilegetobehere]

Very similar to my situation.

[@jujubee90275]

@@familyg7 Hello what city are you looking in?

[@coastalturn]

In the same boat, between me and my wife we make $100k/year, no debts, one car loan that has about 3 years left before I’m completely debt free. Mortgages, property taxes, insurance and future maintenance just look astronomical and not feasible on our budget..

[@familyg7]

@@coastalturn Isn’t that ridiculous? Here in Texas, you can’t buy a decent place anymore. I’m not sure if you’re aware of the big scandal with price gouging, but it’s causing massive problems with prices. Basically, landlords are breaking the law by setting every rent price, and there’s AI software that’s pushing the prices up. I’m not sure if you’ve moved recently, but if you look around for rent, you’ll see that prices are pretty much the same everywhere. Whereas, about 5 years ago, you could find different prices from one zip code to another. These greedy landlords are destroying this country.

[@marcosdisiervi6481]

I'm waiting as my market in North Texas seems to be cooling, many price cuts and big growth in inventory.

[@ambertyler1684]

Waiting until I have enough for a down payment, I make too much for down payment assistance. Also trying to get my back taxes under control. I owe $75,000.

[@JebSmith]

I always say, by when it’s the right time in your life. It sounds like you are following that advice so good on you.

[@Matthew3v3]

Amazing video, you work for 40yrs to have $1M inyour retirement, meanwhile some people areputting just $10K into trading from just fewmonths ago and now they are multimillionaires

[@shirinahammed9019]

Waking up every 14th of each month to 210,000 dollars it's a blessing to I and my family...Big gratitude to Geraldine lane

[@Matthew3v3]

Same here, with my current portfolio made from my investments with my ersonal financial advisor (Gerladine lane) I totally agree with you

[@Richard.767]

Wow! Kind of in shock you mentioned expert, Mrs Geraldine Lane. What a coincidence!!

[@CynthiaRuby-x9p]

YES!!! That's exactly her name (Gerladine lane) so many people have recommended highly about her and am just starting with herfrom Brisbane Australia

[@SadinCrayne]

I have heard a lot of wonderful things about Gerladine lane on the news but didn't believe it until now. I'm definitely trying her out

[@letsgobrandon911]

Its not about interest rates to me, its all about the price and Im seeing sellers wanting 100% more than what they paid in 2021.

[@MissGlamTV]

Buyer in Sacramento: I have a good down payment saved up. Just waiting for a good deal to pop up, but I’m not in a rush. Hoping to see some deals in the winter.

[@JebSmith]

It could definitely happen especially if inventory continues to rise but I think we are probably getting to the towards the top of inventory for the year

[@petergoodman1337]

I would be waiting to see how your local market prices react to very few investors, until ALL sellers sign on to 3% concession to pay for buyer’s agent (massive change is discouraging any new buyer with commission now paid by a buyer), the delayed fallout of higher property taxes , utilities, repairs. My thought is unless you’re downsizing, doing a 1031 exchange, or plan to buy all cash you should just wait. Anyone saying differently is just trying to make a commission.

[@JasonRatzlaff]

I'm waiting because of job security. I bought in 2014 for 385k sold it last month for 1.2M. Buying now feels like I would be buying at the top of the market. Furthermore, I'm not sure about this job market or my income so I'm waiting out this storm. Putting my cash to work for me until I feel secure in my career and or potential home affordability reversal. As Warren Buffet says wealth transfers from impatient hands to patient hands. I played this right in the last crash and hoping to move the needle forward again and not buy at the top of the market.

[@drscopeify]

I bought my house in Seattle in 2012 but the thing is that the US Government was not spending money before 2008 it was pretty tight on spending after 911 and the 2 wars there was a lot of tightness in spending today things are totally different we had trillions and trillions injected and all of it is still slushing around. Sure, some of the money left the country to other countries since we import so much crap but most of that cash is still here. Will we see a big old crash like 2008? ?? I hjave no clue but my odds are tipped against it. 2008 we did not have fracking and oil hit some crazy number like $140 a barrel we are half of that price so that alone is a big help. We shall see.

[@j.van-history]

I'm waiting for the right house, right price, and right now, affordability is the key problem. Mainly, supply needs to go up and buyers like me would be more willing to buy. But the market and economy are not stable, and overall, conditions do not favor the buyer.

[@jujubee90275]

Hi what city are you looking in?

[@j.van-history]

not looking for city, rural areas in Virginia.

[@Alejandro-vh5ox]

We are waiting to be able to afford the payments. Everyone says is a great time to buy a house, don't wait! Well. Is also a great time to buy gold or to buy a company or a great time to buy a rare car that appreciates in value. But the question is. Do you have the money ? Are the monthly payments going to put you and your family in financial distress and risk? Is the answer is yes then you shouldn't buy now. And I think that's the case for a lot of people that are "waiting in the sidelines" they just can't afford a house. So maybe to answer your question people are waiting for a miracle at this point because it doesn't look very good in my opinion.

[@fxdnny]

At times it seemed like a shift would never come

[@JebSmith]

Agreed.....things are starting to look a bit more normal for most markets

[@UrquidezFamily]

All houses are way too expensive. I'm talking 50% over what they should be priced at. Crazy.

[@JebSmith]

how can that be true when the free market decides the price? If a buyer is willing to pay the price then it's not over valued.

[@brucebarr6542]

@@JebSmith It's not a free market when Wall Street investors get free money and buy thousands of homes. This artificially raises the price of housing white The average person doesn't get this cheap money that the fed creates out of thin air. That's not a free market. I recommend you take some Economics classes.

[@UrquidezFamily]

@@JebSmith I'm in Northern California. The average 1600 sqt home is about $900k. Sorry, but nobody is going to pay that anymore. Those houses were selling for $600K just 6 years ago. There is no way houses can keep rising that much in the next decade. Houses are too expensive.

[@mle3857]

​@@JebSmithtypical realtor answer...

[@karenninascott]

@@JebSmith it can be true if the houses listed don't sell for the listed price.

[@jvolstad]

A Realtor being completely honest?

[@JebSmith]

In every video, yup.

[@HerFisherman]

@@jvolstad hahaha

[@mle3857]

Nope!

[@stevenyeats1190]

I bought my house at 3% intrest but i hate my location. The market was hard to get in when i bought during the pandemic due to low inventory. The house i found in my budget was a hour commute for work and it has a HOA so it wouldnt have been my first choice or even second choice but there was so few options out there i felt i had to jump on it or miss out. I wamt to buy something different but I when i look at the market now i cant afford the mortgage of the same price house due to the intrest rates and there are not many houses for 300k in my area. So thats what im waiting for is for the house prices to drop so my mortgage is affordable.

[@jonathantaylor6926]

RE got caught up in an aggressive positive feedback loop due to absurd FED policy. When the FED pushed bond yields to near zero they discouraged bond investing and encouraged leveraged RE investing. The 10 year UST hit a low of 0.53% meaning a 1M bond investment would pay you $5,300 per year and that is pure garbage. An investor could easily take that same 1M dollars, use it for down payments, leverage up and buy 5 single family homes. These 5 rental homes could gross the investor $150,000 in annual rental income and after expenses net the investor 50K in profit all while the underlying assets (the 5 homes) were appreciating by 10 or 15% YoY... RE inventory couldn't handle this additional investor demand so RE prices went up which only encouraged even more investor buying because it got to the point where investing in RE was viewed as zero risk, free money. However, feedback loops can also be negative and I think that shift has started.

[@drscopeify]

Very good comment. The question is why when rates skyrocketed did investors not liquidate the homes to take up the multi decade high bond yields? Now they are seeing rents fall, Treasury yield come down, dollar is weakening, taxes rising and home values are falling to some extent in the investor markets like Texas. Seems odd, I guess they preferred to sit on the homes even with all the headwinds.

[@dixielandproductionco.6989]

Thanks for the notification smashed the thumbs up good stuff on the changes to the real estate market

[@JebSmith]

Appreciate it.

[@dixielandproductionco.6989]

@@JebSmith anytime it's the least I can do to help support your channel thanks

[@YesCivic-R]

A new concern the trend of lower interest rate where major dense cities are alreay facing shortage of housing during high interest rate and lack of new housing, it pushes further shortage of housing. In order word, the side effect of rising interest causes more shortage to some commodities.

[@ericmiller4593]

Prices here in East TN needs to drop 40% to be affordable for locals again. It’s only out of state cash buyers that are driving up the market here(Knoxville/Bristol area)

[@sjohnson1971]

In 2010, the median cost of a home was approximately 3.4 times the median household income. By 2020, that ratio had risen to around 4.1 to 4.5 times the median income. Today, it stands at 5.0 to 5.5 times the median income, reflecting that home prices have significantly outpaced income growth over the past decade. At the same time, mortgage rates have fluctuated. In 2010, mortgage rates were relatively low, between 4.7% and 5.0%. By 2020, they had dropped to historically low levels, averaging between 2.7% and 3.2%, which made borrowing more accessible and stimulated housing demand. However, in the current market, mortgage rates have surged from around 6.0% to 7.0%, leading to substantially higher borrowing costs for homebuyers. Because of increasing home prices and higher mortgage rates, it now takes a more significant portion of a household’s income to purchase a home. As a result, affordability has decreased, making it more difficult for many potential buyers to enter the market. Even if mortgage rates were to decline again, it is unlikely that affordability would return to where it was five or ten years ago. The significant rise in home prices during the past decade has created a gap that lower interest rates alone cannot bridge. Without corresponding income growth or a substantial drop in home prices, the affordability challenges facing potential homebuyers will persist, making the housing market less accessible compared to previous years. Given these factors, it is logical to expect continued downward pressure on the housing market. As affordability challenges persist, demand may soften, leading to slower price growth or even a market correction in some regions. However, the overall trajectory of the housing market will also depend on broader economic conditions, housing supply, and local market dynamics.

[@mexicandoll31]

@sjohnson1971 excellent analysis 👏

[@patrickdiaz3788]

What he said!

[@jdreiling4352]

I’m waiting because I can, I have good amount of cash, but I can get 5% in tbills, no risk. I don’t think home prices are going up at this point, and I can’t help but wonder what % of people bought something ultimately they cannot afford. So for now I rent, put the savings aside and grow my money, and I’ll let people extend themselves in something that I think is at this point over valued. I could be wrong, either way I’m living comfortably

[@joelsnyder8177]

I agree it will bring some buyers out but also believe it will bring some more inventory because i know more people waiting for cuts to list then i do buyers

[@luxelex7881]

Bought my home last year and it seems like prices have tripled since then! Praying the rates go down to make homes more affordable and also life in general! Gas is extremely high, food etc… it’s crazy right now… It’s very hard to save or even keep up. So many people want to buy homes and can’t because of the crazy rates

[@Ultrajamz]

I think rate cuts may not mean price increase, it may mean price discovery…

[@knighthero226]

Definitely the best ive seen of youtube realtors. Title was unnecessarily dramatic, but i can look past it, agree with everything you said. Im expecting an average of ~10% price declines nationwide. More in some areas less in others of course. Perhaps aggressive but between the inaffordability as you've mentioned and the coming crowing of the boomers, lots more inventory is to be freed up.

[@courtneyfulcher5255]

I’m waiting to buy a house to get the lowest mortgage and the best rate I can get. I have enough capitol to put a sizable down payment. Plus this is the last house I want to move too. Thanks for the info I really appreciate it.

[@OGBUENO55]

Have all boxes checked last one is credit score.... That's the only thing I'm waiting for

[@tomgeorge2917]

Retired. Been on the sidelines since the pandemic. After 4 years in Tucson moved to the Triad region of NC. Regularly access the Redfin data online for my area. Avg price '21 was 240k, now 305k. Working with a realtor past 6 months. Inventory has tanked since July. Older homes (estates?) built 50's - 70's which need work are priced 75 to 100k over pre-pandemic prices. No leftover cash to update. However, they seem to drop up to 25K if not sold in 2 weeks. New construction is expensive on small lots, small garages, no room for workbench, no storage, no rooms for washer/dryer/utility sink etc... So they have me over a barrel and want me to buy a house that isn't even functional for me? I will rent until the cows come home before I spend too much on something that doesn't work. I have options. Cash buyer, interest rates irrelevant.

[@lasandra1099]

I'm in Northern Jersey. There is no change here. I just bought a $825K house cash that had 11 bids on day of the open house. The highest bid was $875K. I was not in the top 5 offers seller's were considering, but there were only 2 cash offers and I was one of them. Seller took 2nd highest cash offer which fell apart. Seller's were under contract with their new house and needed a quick closing or risk losing the house. That's where I came in. - I was on the sideline for over a year and saw prices inching up. Although, I paid a little more than I wanted to, I have no regrets. BTW, like most houses, some "minor" upgrades need to be made.

[@alucard4860]

Apr won’t mean jack if prices don’t drop more. Since loan amount does not change with Apr decrease. You would think it will. But sadly it doesn’t. Condos are starting to hit below 300k in Utah valley but sadly just not enough. Few around 200k which is what quite a few of us in the valley are looking for but with HOA tied in for being over 250 a month just makes it still unaffordable.

[@cvzphotography]

@alucard4860 I'm in utah and don't know of anything under 300k that isn't in a trailer park. The cheapest houses in west valley are near 450k. Crazy times.

[@JebSmith]

let’s clarify the difference between APR and interest rate to start. APR is the cost to finance a property over the entire life of the loan whereas interest rate is what you actually paying on a monthly basis. With that, APR isn’t something you should really pay attention to With regard to interest rates, it has the potential to impact housing affordability more so than any of the other factors. Prices can continue to stay where they are or even go up and housing affordability can improve significantly by interest rates coming down a bit. With that, I believe that prices don’t need to come down in order for home sales to increase and that’s exactly why I think lower rates lead to more stability in the market than anything else

[@DeathsInverse]

I could definitely afford much more house with lower interest rates

[@cvzphotography]

@@DeathsInverse you and everyone else, and then prices go up again. It really is a tough time. We need more supply.

[@donawheeler]

I’ve been in a motel since May 22 @$2000 per month and it’s very debilitating spiritually and physically. Plus storage &650 . Landlord abuse has been rampant and I’d rather not do that anymore . Houses are still extremely over priced and it’s stupid Corps own 44% of homes currently

[@manuelnavarro4824]

What I don’t hear mentioned a lot in the media is that new construction builders are offering incentives that beat any thing on the market. I just closed on a home in may Lennar did a 3/2 interest rate buy down and paid 10k towards closing on a brand new home

[@youssefhamidi8152]

My house had been on the market now for 35 days with a total of 1 person coming to see it. Im in NE Florida. Just 💩. I just cut price too by $10,000. I believe we need to see rates under 5.5% for homes to start moving faster.

[@mrdrivebytrucker]

I don’t think there is a correction like 2008 but it would be nice if a $700,000 condo dropped to $600,000

[@edgarmiranda1822]

Im waitong for two things: 1) the yield curve to re-invert 2) the unemployment rate to go up

[@kylecaudill9261]

Even with rate drop, the elephant in the room is the new buyer representation forms that are mandatory to work with buyers agents and the potentially bigger price to close for buyers. 3% upfront on a house is a big discount on housing prices assuming they even want to sign the new buyers agreements. Between inventory spike on the coasts due to foreclosures and called loan and the new buyer agents agreements, I'm wondering how much stress this is going to put on our investor overlords? See that was what actually caused 2008, bad investments tanking all investments. They key here I think, isn't changing prices, rates, or inventory but how fast. Panic is what I'm keeping an eye on more than anything else

[@jujubee90275]

Jeb's videos are always helpful.

[@JebSmith]

Glad you think so!

[@litupav]

Sales rose in July cause summer is peak buying season. Still way off target from average sales

[@JebSmith]

July gets the credit for what happens 30-60 days prior as that is when things close. The hottest time of the year is actually April, May and June.

[@jamesosteen09]

It's just depressing when you're looking at a home listed at 550k and you go back and look at the history and see it was valued at 375k just 5-6 years ago and youre like ugh. I understand it would have gained some value but the nearly 150% jump in value in such a short period of time is deflating. You work and work to get into a position to finally afford that 375-400k home only for the goalpost to be moved and now those homes are out of reach. I just cant help to think that theres some level of correction due (not a crash) but correction because rarely so we see something gain that type of value increase in a short period of time and actualy keep it. I just keep hoping they fall some more. That's what "I'm waiting for"....waiting for the decreases in my area (Dallas) to level off. I keep seeing prices fall and houses sit longer so I dont know when the cuts will end. I keep waiting hoping the cuts keep coming. I'm afraid to get a home and then see the market continue to decline and then realize ugh i could have had a similar home for cheaper had I waited. I know the flip side is true as well and it could go north and the though then would be ugh i could have had it cheaper had i pulled the trigger. It's a risk of not knowing and trying predict

[@DearSX]

We are buying at a reasonable price for a decent or modest home. $400k in the Northeast, 1400sqft. I agree or can make sense of everything you said. This a resonably comfortable home, area and price for us. Now is an ok time to buy.

[@stefanforest7582]

Austin is fascinating. I am a renter, and I observe housing and renting options. Sure, inventory for houses is spiking and at a very high level, but the rental market is crazy. On Zillow, there are more than 21,000 units for rent available. Last years, we had maybe 3000 to 4000. --> The impact is enormous. My apartment complex didn't have any free options a year ago, but today, there are 14. Apartments in other areas offer 1 or 2 months of free rent to move in. Prices are falling by about 10% year over year due to oversupply. Fewer people move to Austin, and it is even negative, and local builders went nuts with building multi-family homes.

[@JebSmith]

I appreciate that information, it’s always good to hear from someone with boots on the ground. Have you seen rent prices pull back or have they just moderated?

[@stefanforest7582]

@@JebSmith It depends on the area, but I can give some examples: 2 bedroom apartment a year ago: ~$1500 to $1600. Today, the same place is at $1250. 1 bedroom: $1300 vs. $1100 if you are lucky, but weirdly, sometimes 1 bedroom apartments are now more expensive than a 2 bedroom. The reason may be that many big landlords use software to automatically adjust the pricing, but the software does not work well if prices are falling rapidly. Overall , the share of available units under $1300 increased significantly. Some more luxurious apartments outside of Austin feel the most pain. Some have 20, 50, or even 130 free units. Many of those were built in the last three years, and many landlords are not willing to cut rents (they probably can't) but pay via insanely high vacancy rates.

[@eriamhsl3841]

Waiting. House prices are deopping monthly as well as interest ...so ill keep waiting!

[@JebSmith]

What market are you seeing home prices "dropping"?

[@jessicamccreary8488]

@@eriamhsl3841 you're forgetting that when rates drop, the house prices will rise due to the increased demand. People have been waiting all year for a substantial rate cut, if that does happen, it will be swinging right back over to a seller's market.

[@eriamhsl3841]

@@JebSmith single fam new construction ! Ca

[@Vyeking]

What if the people decide to keep the prices higher at their really low rate and let the government collapse? I’m at 2.25 percent interest rate for my home. What if the people decided to let it all crash?

[@sethlira]

Not buying untill these sellers dial it back to 2017...this is beyond insane.

[@karenstrain1152]

Waiting for prices to come down

[@JebSmith]

Which market are you in?

[@patrickdiaz3788]

I'm waiting for prices to come down by several thousand $. I want to buy a decent 3bd 2bath condo or home, but I can't see myself spending $4-5k in the mortgage. The prices are too dang high.

[@TylerPoppe]

At this point, I just assumed as each goal I reach (better income, bigger savings, etc) whatever happens next will be another set back as its basically been that way since 2020 year over year. If housing prices come down, I'll just be competing with 100 cash offers over asking. If they go up, I'll just be competing with 50 cash offers over asking + a seller "who knows what it's worth" while it sits for months. Originally was waiting for a job promotion. Got that but then prices went pretty crazy. So built a better savings, only for houses to rise even more. Get a better savings and the interest rates have put us into "fixer upper" mold infested next to a highway territory. Now the question is just "do we want to live in a mold infested house since we won't have enough to do repairs but at least we'll own, right isn't that the dream.

[@professorprofessorson8795]

Waiting for the crash so the deals start coming

[@JebSmith]

Let me know how that works out.

[@ThroughHe]

There will be no crash. There are too many people thinking that they’ll be able to scoop up properties on the cheap like after the 2008 crash. The controllers who manipulate the world we live will never allow normal people to capture amazing benefits like that.

[@user-tu6hs9un3g]

We have no choice but wait. Even though hubs is retired military, and now works 8 to 5, we can't afford life...We had to back out of a couple contracts/ deals due to seller selling a piece of property with a run down shack that was uninsurable and couldn't appraise, or the fees hiding in the lenders paperwork/ extra inspections that drained us/ adding extra cushion percentages for 'just in case' scenarios to a loan and going over the amount we were comfortable with for monthly payments. So basically, in order to not be stupid and get a loan for triple what we can afford, we have no choice but to continue waiting until sellers lower their prices.

[@jodyh1873]

Waiting for affordability. Here in Colorado the home prices have shot up over the last several years. The “average” medium price home here is just shy of 600k. Unless your a dual income family with above average paying jobs your either not going to qualify, or your budget is so stressed your quality of life is reduced. Couple that with cost of living and the average person is priced out of the market.😡

[@russellmusictv4403]

Inventory is low where I live. I also see reports on how they can't build quick enough to keep up with the growing population. Interesting.

[@daunique1n1]

Here we go again... FOMO train, All aboard!

[@thesoccertrotter1]

Ikr what he meant to say is real estate sales are at lowest ever

[@JebSmith]

yet at home prices are still going up, imagine what will happen as interest rates continue to move lower. it’s important to understand the context of what you’re talking about versus just throwing out headlines

[@daunique1n1]

“FOMO train” narratives: - Interest rates crashing - interest rates never see pre-pandemic levels - Historic housing short supply due to immigration, Gen Z blah blah… Usual sources: RE agents, Loan Brokers, RedFin, main stream media like CNBC, Market Watch “Dooms Day” narratives: - Economy collapsing, edging recession heck depression is coming - High inventory expected due to release of “Golden Handcuff effect” - National Debt reaching alarming levels, De-dollarization bluh bluh bluh Usual sources: Gold/Precious metals investors Fed plays both ways depending on what they need us to believe at the time I’ve seen enough to call a bullshit when I see one.

[@carrots_arelife2924]

waiting for prices to come down

[@zwatwashdc]

I am waiting for a house that doesn’t need much or any work, that solves what I need to be solved - and at a reasonable price. What I see are starter homes at exorbitant prices, houses that need a major renovation priced like they have already been renovated, houses squished together in housing farms - no, I don’t want to live in my neighbor’s lap - and a small number of decent houses with a few problems at prices I would only pay for a house that solves all - not just some - of my problems. Since I can wait and I make more money waiting that rushing into a mediocre housing situation, I am just waiting.

[@neto1495]

I only care how much money I will give to the bank with high interest rates, so I rather wait for them to come down.

[@ryanmundell3504]

Price cuts don’t matter the average price matters more

[@Bulldog-qe9is]

Lol, pretty obvious the small rate cut wouldn’t do much. You guys were always screaming the sales would go up. It’s the price and the inflation, without any pay increase, that’s killing the sales.

[@joemomma707]

Love your videos!!! Broskie, can you please make a video expelling Kamala’s new tax plan? People are saying that if you sell your home, you get taxed on the profit.

[@michaelmaguire5594]

Anyone hoping for a future recovery better update themselves on what the big plan is. Home price will not matter. Property taxes and home owners insurance will keep rising to the point where by 2030, only 10% will be able to afford a home, the rest will be renters. Get it in your head now that we are done as the country you grew up with, this way the shock will be less after the election "results" roll in (hint: next administration will be the current). 2016 will NEVER be allowed to be repeated, too much money on the line.

[@BANDIT2DAY]

Not true. It depends on where you live in the country. I live in Idaho and I was paying $2450 a year in property taxes and our state had a massive tax surplus so, our governor put it towards Property tax relief. Now I pay $1625 a year. I also switched insurance companies and got my homeowners insurance dropped by $300 a year.

[@ThroughHe]

@@michaelmaguire5594 this is what the average person does not understand. They stole the election last time. They’re going to do it again and there’s no way they’re going to allow anybody to take control of the American government that will install policies that benefit Americans. The American government has been hijacked by globalists, bankers, war peddlers in the pharmaceutical industry. I’ve been telling people for years if you want to know where America is going look at your typical third world country - 70 to 80% poverty or near poverty, with 10% to 20% middle class.

[@michaelmaguire5594]

@@BANDIT2DAY That's now. And what else has happened in Idaho with farms? The tax relief was appeasement, so homeowners feel like they matter. You were bought for pennies on the dollar ($68.75 a month to be exact, $17.19 a week). I'll say what I have been telling those that don't believe me, only to find out later I was correct: you'll see. After "the event" in October, everything will change. The real pain begins for us in 2025, about 6 months after the election. Friends and family ask me how I keep predicting what will happen next so accurately. It's easy because the big plan is no longer being hidden. Never has been, it's just most are so distracted by entertainment that they don't even look. Following all of this for 20+ years, the most predictable has been the last 5.

[@BANDIT2DAY]

@@michaelmaguire5594 homeowners were bought off? I doubt that. That tax money is ours that we have paid in. Our governor actually takes care of the people that live here. He’s not trying to buy votes like lefty governors in blue states that try to buy votes by giving free money to people that don’t even pay in. You probably live in California or some other crazy leftist state that actually does buy people off to get their votes. Over the past four years, I have seen a mass migration of conservatives to this state . I am well aware of what’s going on in the country and what they are planning on doing. not sure what you mean by “event in October“ but if you were talking about planned power outage or EMP attack, most of us here in Idaho have woodstoves and have been planning for this event for a long time. I live in a safe zone in this country. I have a feeling you don’t. If you live near any major city, or in a state with a Democrat governor you are f***ed.

[@vicp99]

We can buy at any time. However rents are at least stagnant if not down where I live. Ownership cost has skyrocketed. We only need a few more years where we live. And we have a great rental and always nice places on the market. I keep having realtors try to inspire fomo. But the most expensive house is one you panic buy and it turns out doesn’t meet your needs. We missed several bu!!ets 😂 recently And our evening and weekend are freeeeeeeeee lol

[@alexbella5]

Waiting for affordability. In ventura county area. Homes selling for over 950k but you arent getting anything luxurious on the inside. Even some million dollar homes dont look that great inside yet people paying that much for these homes its crazy.

[@PianoMatronNeeNee]

Great video 👍👍👍👍Doubt interest rates will rush people into buying.

[@JebSmith]

If they go into the mid 5's, I actually believe demand could pick up substantially.

[@travels_with_Rich]

Hey Jeb I'm waiting for the correction. For the market, Fed and the government to push prices down. With increased prices of food, utilities, insurance, and property taxes. These added costs will push people and the companies that invested in to real estate out. Many people over bought being sold a dream waiting for that dream to fizzle out and the cycle to restart. Buying a house now would cost me greatly with added expenses and loss of investment income. The numbers will make sense again I hope. just have to wait for bubble to deflate to prices actual people can afford with out government stimulus or fomo appreciation.

[@davecalifingers]

Please tell your video editor to stop adding computer click sounds effects to the video.

[@robenow]

I agree.

[@howietran5723]

Cities of : Westminster- Garden Grove - Santa Ana- Midway…. Prices are crazy high , Vietnamese are buying everything on the market .

[@JebSmith]

There is still a lot of demand in that market and because of the lack of supply, we are still seeing prices increase.

[@howietran5723]

@@JebSmith communist vietnam laundering money .

[@garthlovelace5997]

The big conflicting issue for the FED is protecting the $US but this will cause mortgage default which has happened. Save the borrowers and the $US will suffer…damned either way.

[@napoleonollis7247]

*Amazing video, thanks for the steady stream. I'm favoured, $105K every two week! I can now give back to the locals in my community and also support God's work and the church. God bless America.*

[@karenninascott]

I worked my ass off for my whole life so far thinking that would make my future secure, and you want me to keep working 40-50 hour weeks just to have to put it all in a house? No. All I need is prices to drop. A lot. I wouldn't even buy at these prices if I won the lottery. It isn't a good investment.

[@jessicabixler1658]

Waiting to afford a home...with 6 figure income...our payment would still go up more than we can afford compared to our rent.

[@jujubee90275]

Hi what city are you looking?

[@Millerj2450]

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

[@WillFred-g7g]

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

[@boonerbarns6718]

ty

[@caliwrestling2015]

I have a feeling here in Southern California when they lower interest rates. Housing will skyrocket again.

[@JebSmith]

I think housing affordability will have to improve significantly to see home prices shoot up and I don't think that's in the cards yet.

[@susievidal4134]

I live in Northern California but i see alot of inventory available just not affordable id prefer a new build but theyve gone up over 600k i cant afford a 4k mortgage a month plus the cost of electricity and other things. I went house hunting yesterday and what bothers me is that really old homes are priced really close to new homes so my question is if i buy a 1963 home and after im gone and in 40 years my kids want to sell it how much equity can you make on a 100 year old home? I really dont want a home built around the time when i was born and lots of real estate agents dont see the differences between new versus old whats your take on it ? I really want to buy but i find it hard to pay 3k or 4k a month when my electric bill was 500 this month and im in a small apartment

[@JebSmith]

That’s definitely a problem. We need more homes under the median home price as that is where inventory is struggling the most. as for buying an older home versus a newer home, if they are priced pretty close to the same, then I would probably go for the newer home, but Nuwer doesn’t always mean better. Typically, the newer properties are multi levels on much smaller lots and often further away from the epicenter.... at the same time, all houses are going to be old at some point and it always comes down to location, location, location. I would focus on finding a great house in a great area and not worry about the age or what happens in the future because neither of those things you can really control.

[@susievidal4134]

@@JebSmith thanks for the tip and I live in ideal location that's why homes in my town are expensive especially new homes and on the other side of town they're building new homes Meritage has some good size lots with good size backyards but they're way over 600k with solar and I'm afraid 4k is way too much for us at the moment and I don't mind a home that was built around the 90's as long as it has everything I want but my town population is around 6k and inventory is scarce and newer homes are too expensive. The builder here is Meritage and they have really good incentives but prices are just too high sure wish I could afford a new home

[@Therulerof72]

🔥

[@bjornhelgason1879]

Jobs down Price down

[@JebSmith]

Jobs down, interest rates down, demand up and prices stabilizing to up.

[@rudolphambriz3562]

not in Southern California

[@AbdulRahim-cu7y]

Hello Jeb! Do you handle editing in-house or remotely? I'm an editor and would be glad to discuss, if you’re interested.

[@getmoniiE]

What is your track record of success?

[@harrybaulz666]

Any condos in florida for sale?🤓

[@maryvegas7712]

We're trying to sell. Over 60 d.o.m. 2 price cuts...We have a 2 1/2% mtg. but need to downsize and want to relocate.

[@JebSmith]

where are you located? days on the market are definitely going up in most areas so you're not alone.

[@maryvegas7712]

@JebSmith Las Vegas

[@JavierHernandez-qf7nm]

Every day is a new story with this jeb guy. He just say stuff to create content. We alredy know jeb . “” when people asked me when is the right time to buy ? Well you gotta think whats the reason why you are buying! Is it the right time? Can you afford the payment? Are you financially stable ? Boooorinnnnnng😢

[@jackkk9211]

Typical Realtors propoganda 😂

[@taban5815]

Waiting for investors to see reality and bring prices down. Airbnb , black rock,Zillow etc… big guys naught all the homes 2025 is the time I am waiting.

[@Lito-dy5vo]

@Jeb, can someone eligible for mortgage with C09 working permit and 1098 income tax return

[@Dave-zl2ky]

You must be in Florida.

[@JebSmith]

Southern California

[@cyrusm3391]

<a href="#" class="seekto" data-time="416">6:56</a> can you clarify what it means that the "mortage rate decrease" is already baked into the cake?

[@JebSmith]

The FED's rate cut in September is already factored into the data so don't expect mortgage rates to move lower when they announce a fed rate cut.

[@cyrusm3391]

@@JebSmith thanks!

[@Casper847]

@@JebSmith how about the November and potential December cut. Are those also baked in the current mortgage rate? or will those be included/represented in the mortgages rates that we see in September 17ish (after the fed meeting)?

[@dantam1821]

Biased. Self serving comments.

[@MX-CO]

Rip Rabbit (Rob Pitts)