The 2024 Housing Crash | Peter Schiff & Grant Cardone.

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Peter Schiff and Grant Cardone on the housing market crash in 2024. What they see vs what many discuss on the bearishness of housing outlook.
📝Disclaimer:
This video is not personalized financial advice for the viewer. Read the Offering Circular before investing in HouseHack.

[@FlyByMike94]

This is a cute argument, but homes are not fractional shares. Home prices have always followed the median income and right now it’s way out of whack. You can’t fix that without lowering prices Second, owning a home is usually cheaper on a monthly basis and right now it’s not. It might not be a big and fast decline, but there’s no way home prices can sustain given nobody can afford to buy their own home back

[@justSTUMBLEDupon]

They might fix it with the 40 year mortgage smh

[@scottfromsouthcarolina3185]

It's going to take layoffs / unemployment to get the housing crisis started.

[@dgmangold]

My guess is cardone isnt buying anything. Hes selling now trying to get suckers to bail him out of the problems he created.

[@CG-uk1vz]

Kevin, you've been promoting RE crash porn for 2 years. You clearly said last year that real estate would ceash this year and you were dead wrong

[@sanghal]

The discussion primarily focused on Homeowners, but completely skipped investor owned properties. Some think that the wall street investors are/will be dumping some inventory into the market. Out of 20M if 10% are put for sale, it will double the housing inventory. Any thoughts on that?

[@justSTUMBLEDupon]

Only in some markets this will be an issue. I’m more concerned about banks not wanting to lend and commercial mortgage backed securities. No bank lending means it will be harder to secure a loan to buy the already over priced house with the hight interest.

[@MovingHeatLata666]

I owned over 50 homes, countless apartments a church a motel in my early 20’s. Queen creek,AZ 😜. Top 20 fastest growing cities. It’s the cost to replace that matters. Good luck and you’re welcome.

[@carefulconsumer8682]

Great analysis. RE is local. In some markets, like Houston and the surrounding areas, more then 40,000 new houses are being built. And builders are offering some great deals like 4% mortgages and paying all closing costs. Used home sales are stagnant because those sellers refuse to drop the price AND banks are still charging 7-8% mortgages or higher depending on your credit scores. It will be interesting to see what this dynamic will do to house prices.

[@jorge1170xyz]

"40 million homes that no one wants because they're too old". Yeah, well price discovery easily solves that problem, and GC knows that.

[@nellybelly623]

Yeah, that was a dumb comment.

[@alphagenisis1]

Depends on where you live. On the coasts it’s still a sellers market and buyers have very little leverage considering interest rates.

[@jorge1170xyz]

@@alphagenisis1 He was talking about a long term surplus of houses so old that nobody will want them. Yeah right, it's often the land and the structure itself that comprise most of the inherent value. Let price discovery happen, and even a "too old to matter" home will make its way back to market one way or another.

[@cliffsauer9111]

@@alphagenisis1I live in NY and some houses ar which but are not selling. Many houses have come down to pre covid levels and get bought up within 30 days. My aunts a realtor and I was talking to her last night and she was saying it’s starting to fall off a quick.

[@warrencollings9784]

Florida new construction prices are dropping 5%-10% already! On top of that builders are offering 30k-50k of incentives!

[@justSTUMBLEDupon]

Florida (and California) also have that high insurance problem. Cant imaging going from paying 2000 a year to 7000 or for that matter not being able to even find a insurer because everybody is leaving.

[@PatamaGomutbutra]

Event happen then reason sines later. It is no matter rational why houses are OVERPRICED. The boom will be bust eventually when people are too confident - the there will be unexpected cause.

[@bearmarkettradeideas]

Kevin I wouldn’t utilize the real estate/gold market. Gold's price manipulation through futures, low demand as a monetary metal, a strong dollar, and the influence of digital speculative assets like Bitcoin have all played a role in preventing gold from experiencing a significant price surge. The presence of fake paper gold also affects the value of real physical gold by absorbing demand. The Gold market is heavily influenced and manipulated, and unbelievably undervalued.

[@henrikissagoolian4934]

Housing will crash, issue is the timing, WHEN? Lots of people did not pay any home mortgage for last 3 years, they should start next month plus student loan.

[@jimscherer8072]

This time we won't have a sub prime default crusis. Defaults will occur but nowhere near 2008. You can buy now at 8% and refi when rates go back to 3%

[@cliffsauer9111]

Homes constantly needs money just to keep it or keep it up to date. Renting is just about getting others to pay for your losses.

[@calebik]

This is good stuff Kevin. Thank you for the insight.

[@mikeflair6800]

Watch Florida - they are the canary in the coal mine. Then the next question does that go national. PS - real estate a crummy investment compared to stocks. Dump RE, buy the S&P, and you will be much happier.

[@justSTUMBLEDupon]

3:25 If you have a volume crash, what usually come next after a volume crash?

[@dannyboy8835]

Peter basically said I can buy a house for half off the longer I wait, (in gold) 😮😮

[@TheDevilatorres]

In Chile 🇨🇱, You buy a Home with fixed Rate , but then the banks adjust the mortgage monthly payments by inflation (using something call UF) . The value is in UF not in dollars or Pesos. So , almost nothing that i listen here , Can be useful in our case 😅😮

[@Rickyyhu]

I think the biggest take away is housing prices will come down but people who have the liquidity and can stay in their low mortgages it's still worth it over purchasing a new home at a higher mortgage. All about the liquidity, which the amount of piling debt in this country doesn't look good.

[@Semi_Successful]

There's ALOT of Houses being built in my area. Like thousands, so would they not be filled?! I'm confused

[@milossavic6642]

What about the crashing employment next year?

[@bigbaddms]

Imagine 1 1/2 years ago, you bought a house for $1M with 20% down, and got a 2% loan (yes, they went that low). You would pay $264,504 in interest over the life of the loan. Today you pay the exact same amount for the house, put down the same down payment ($200k), and get today's rate of 8% and you will pay $1,313,241 in interest over the life of the loan. OVER $1 Million dollars more. For the same house, same loan amount, same term. So that buyer from only 1.5 years ago, has a loan that is worth over $1 Million, compared to today. It is absolutely insane. That's why people were bidding up houses by 6 figures or more. Even if you overpaid by $100k, you saved over a Million $ in interest.

[@tony91746]

Hello Sir I enjoyed the KZbin video regarding the housing market with Mr Cardone and Mr Shift. On another video that I saw regarding the housing market was that the big corporations are buying up all the real estate to where only corporations will own most of all the real estate. Especially high volume areas. Next to colleges. Downtowns. Thanks

[@kevindibella6312]

Kevin - this is the first video I’ve enjoyed from you in a while. I appreciate your commentary on this, but overall, I think your bullishness is misplaced in this market

[@TheDiabloBarbarian]

Remember that Peter Schiff doesnt believe that inflation will go negative. Housing didnt bottom till 9 months after peak unemployment. We are nowhere near peak unemployment. Peak unemployment was 12 months after the market bottomed. We're not even close to FED cuts and then market bottom. Wait till unemployment is at 7%,.

[@smokestrong1000]

All those older homes that people spread themselves thin on for mortgages imo are gonna have a rude awakening when they realize how much repairs for a house cost. If you need a roof replacement how you gonna pay for it when you're house poor or need a new sewer line because you bought an older house that wasnt built with pvc piping. That could be 20k right there yet theyre not able to save anything from their mortgage.

[@viewerone]

Not once did you mention the effects of unemployment on the housing market

[@justSTUMBLEDupon]

Not just unemployment, but underemployment, and the fact that people are now working multiple jobs to make ends meet along with disappearing bonuses and overtime.

[@aaronm8552]

This is going to be SPICY!

[@joshgato7853]

They may be talking about recession due to the inverted yield curve. I think it might have some historical purpose. Not sure.

[@Love4puppies]

Mike Zuber on ORAT has been talking about this for a long time. The opposite of 2008-2012 when you got cash for keys and could rent a home next door for 1/3 of the price.

[@cesarzumaetavalencia8643]

mmm... i dont think is enough to have a complete perspective. You need to add investors, foreclosures, unemployment, new construction, so many factors to account for.

[@joshgato7853]

Anyone who purchased in the past 3 years are under water, or soon to be. Listing have risen despite seasonality? Overall listings are low. Recession soon. Rates never going back to the craziness of past 3 years. Builders giving discounts. Dudes who own companies can deny as long as they want. They can even be so stubborn as to drive their business into the ground. They can claim bankruptcy and then go hide in shame. Means nothing to them. Its not reality for average American. Since when is staying in a negative equity home a good thing...

[@CrashBr0]

What about the silent seconds Melody Right talks about from the covid forbearance agreements. They aren't even recorded.

[@manirahmed-ec4ml]

It's always an honor to have you here as a mentor I learn a lot your videos and it has encourage me expecially in decisions making. Investing in the financial market that changed my life forever.

[@TheRealMoneyDynasty]

Kevin, So, you do watch your old friend's KZbin videos. Does he watch yours?

[@amymello7481]

Soooo...real estate is entering stagflation?

[@TiagoRamosVideos]

👏

[@kristjanvendelin3566]

He says buy when there is blood on the streets but there's no blood.

[@screwcollege8474]

Peter shiff interview?

[@rodrigocortes3641]

Grant Cardone wants to pump up the multi unit real estate business lol

[@justinclark8360]

I believe Grant Cardome is someone you look up to, so I appreciate the commentary on his videos

[@justincadle7070]

A VA allows a non veteran to take over the mortgage rate of seller. So I could sell someone my 2.75% interest rate for my house. But what the hell would I do? lol

[@bearmarkettradeideas]

Great video Kevin.

[@ninja_ape]

I like your channel knowing that you are a great reflection of Crammer

[@orai227]

Jenny's catching up to you Kevin...she's making all kinds of money on Twitch now, you're screwed!

[@tedhuntington7692]

I saw a recent interview I think on fox or cnbc where Schiff definitely predicts commercial crash and residential crash too

[@joshgato7853]

Why are prople acting like the past 3 years is the norm...So odd

[@GregMunro]

I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 175K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities

[@Gokutrump]

Ain’t gone be no housing crash. People need to suck it up and realize that higher prices is the new norm. Either get rich or stay renting

[@cs.8821]

No crash yet. Sales are picking up

[@Socalarborist]

There are 2 types of forecasters, those that don’t know, and those that don’t know they don’t know!

[@superfast3444]

It’s going to take a recession to crash housing market at which point interest rates will drop a lot eventually and Peters theory does not work as well because lower mortgages will become available again. Depending on how bad and how long the recession is people will move out of houses and apartments, moving back in with relatives and friends, just like 2008, it really comes down to if the Fed cares more about inflation/stagflation than the job market or assets.

[@Shane-yx2hi]

He said 200k house is 1000 oz of gold 😂

[@faustosilva6496]

2

[@o.astamp5680]

"As soon as prices go down, buyers flood back in to the market" Thats not true dawg, thats why you're seeing %15-30 percent "declines" (i.e) a crash in dozens of markets across the country, as you acknowledged. Don't fall into the trap of talking about the housing market as if its completely independent of the overall economy, its the type of talk you hear on the weekly brokerage calls. A sales volume collapse IS A COLLAPSE. We're being held up by a half dozen ultra luxury markets, as well as the increasingly rare cash buyer.

[@FF60MpD]

They want to create fear to buy more 😂

[@chrisacevedo8456]

FUD

[@jajajaja2624]

Putting my money on GC...

[@nationsnumber1chump]

My thesis: the housing market will crash. investors will pause everything in sight to put their money into the stock market after it crashes to buy the dip thanks to deflation, and so because unemployment will be so high as we are already seeing, nobody will be buying the homes that are already built or are building right now, so there will be no more demand and with the unemployed selling more homes too, it could lead to a disaster. On top of that you have investors that refuse to take their money out before very bad earnings and that's when they actually lose money and can't keep building homes, so they dramatically lower prices so they can sell them off.

[@1ChristopherCampbell]

Stocks aren't low though

[@1ChristopherCampbell]

There is no dip in stocks

[@NinjaVanish247]

Yes Michael Zuber called the crash in transactions years ago. Made the crash bros look like clowns. 🤡

[@JhonnesTan]

Great House Crashing In Indonesia 2022 Down 45 % 2023 Up 28 % Next 2024 Politics 🎉 In 3 Canidate being chaos’s in crashes in 70 %

[@JA-zh5xi]

This is exactly why I couldn’t stand listening to guys like Economic Ninja anymore - he preaches a housing crash and the poor people who listen to him actually think that is reality. He’s completely wrong.

[@wisemanm6390]

Ninja is a joke.

[@LG-tw5vm]

We are seeing some houses at 40% off where we live. The housing market is currently down 12% across the country. However, the crash in housing is going to happen when unemployment skyrockets, which is a lagging indicator and will be the last domino to fall.

[@mg-by7uu]

Depends on where you live. But yeah you don't hear people like him talking about the difference between Salt Lake crashing over 20% in the last year and Miami going up more than 5% in the same time

[@justSTUMBLEDupon]

As usual housing is all local, but in my uneducated opinion, there will be a 2008-12 like “crash” that should legitimately start around 2025 but it will be clear it will go down late 2024. There is a chance of a soft landing (or a rough landing), but the recession indicators are blaring a bad recession aka hard landing. The data doesn’t exactly back it up, but the indicators does. Inflation kills the economy but so does deflation. With deflation all the businesses that want to sell their widget have to cut prices, which means less margin, but they still paying employees boom time wages. If unemployment goes up past 6.5% we got issues. Allot of people will sell homes, especially the ones who took out HELOC’s to consolidate debt. Foreclosures should ramp up in 2025.

[@justSTUMBLEDupon]

This how I look at it: I’m preparing for what ninja is saying, while hoping that Kevin is right. If Kevin is right, we get the Nike swoosh recovery. This gives me more time to prepare for when the next recession hits. But if Ninja is right, we got 2 years, tops, before things get really bad. I’m a house hack investor and I just hope Meet Kevin got a plan for good times and bad because if it gets bad, House Hack can be positioned to be very very profitable, if he is ready for a possible bad recession 2025

[@henrygumo6955]

peter will always be a marketing campaign for gold. Hard to take him serious because of his gold bias.

[@russellthompson2126]

I think the crash everyone was waiting for ended up being just a mere minor correction in 2022. Im expecting prices to continue rising. NOBODY is going to sell if they can rent it out and cover the mortage. Add in that it would costthem more to sell and rent.. and yeah.. highly unlikely. But homes are unaffordable. Either prices meed to go down or incomes need to go up... Im expecting the latter.

[@jack7240]

Second

[@veronicadavidson4487]

You are extraordinary boo boo, do you know that sweet pea!!! ❤ 😉😋😎😍😘🙂🤗😇

[@adktransport377]

Ihjdh 😮

[@lascellesreid-barlow8250]

2nd

[@ridwanabdulahi5276]

First

[@kaiphi5350]

lol oh here we go, real estate crashing again lol what is it going from 200% to 100% ROI. Never listen to any one that says don’t buy real estate or the market is crashing. Up market, down market, people need places to live and it is one of the best volatility tested inflation hedges.

[@matthevandaalen6289]

2019 going to crash, 2020 reset will come, total collapse in 2021! Prepare! 2023 disaster! NOW: 2024 crash 😂😂😂😂

[@mtbeast8977]

I bet Peters comments made Sachs pissed lmao! he is a crash bro

[@HyDx49]

As much as I would like to buy a house for cheap. Or at least at a more affordable price. I really don't think there will be any kind of crash for the housing market. Because people who locked in at the lower rate aren't gonna sell. Unless they really fucked up like losing their job for a long period of time. Price will stay high. And once the mortgage rate comes down a little more. The housing market will start booming again.

[@truefreedom9308]

Everything being said in this video is absolutely obvious to anybody. Why are you acting like this is a surprise?

[@PeterWhite7]

I am new to the stock market. Every stock that I bought so far, I was out of luck because I bought them when they were expensive. I feel I missed out on all the stock opportunities so far for the tech stocks.I believe having 175K yearly income would be a good investment so I want to plug all my savings into the stock market. I know this sounds a bit dull but I would like to know if I should learn investing or let somebody else (more capable like a FA) do it for me? Please share your thoughts. I am kind of tired of searching for a good stock to buy and losing all the good opportunities

[@Miketsosie13]

Second