The California Housing Market is Eye-Opening: NEW Report

[@JasonWalter1]

Get Connected To a GREAT Real Estate Agent Here: www.realestateteamfinder.com Please SUBSCRIBE HERE bit.ly/31kAR73 My Gear I Use for KZbin: www.amazon.com/shop/jasonwalter Products I use and like: #ad Tubebuddy www.tubebuddy.com/jason808

[@danielalonzo7445]

California has 17 million people on medicaid and food stamps. California has almost half the people in poverty yet we think we are the best economy in the country. greeting from Chula Vista, CA

[@stb201]

I don't think we are the biggest or best economy in the US

[@House_hacker_619]

It makes sense not all sellers are desperate. There’s 2 types of sellers. The one who are forced to sell and the one who aren’t desperate and fishing for buyers with deep pockets.

[@JasonWalter1]

👍

[@waynez5535]

Get Congress to enforce new buyer policies: -No China Money -No wires from Hong Kong -Ban FDI in residential I guarantee you put a block on Chinese money inflows into California, these home prices WILL deflate

[@stevea8590]

$300k house sales are down because there aren't any $300k houses to sell. Those houses are now $900k, like you said, hence the rise in $1million house sales.

[@mrodd1234]

Blows me away at 🤡🤡 that buying at these prices......

[@zhenshan456]

Thanks Jason! Even though I am not a CA market investor I have to say you are one of the data driven/deep mining KZbinr focus on data and trend. The video about delinquency you even goes to other debt to forecast the upcoming delinquency. Good job!

[@JasonWalter1]

Awesome! Thank you!

[@christinadaly7743]

Yeah , with 30 million apartment dwellers waiting on the sidelines for that one little old home to drop half a mill .

[@Steverz32]

Happy Thursday Jason & LETS GET NERDY!

[@JasonWalter1]

It’s Thursday already?! How did that happen? 😂

[@Steverz32]

@@JasonWalter1 time flys when we are having fun👍

[@rustybumperclassics6342]

I live in CA and its crazy. You list anything and it will be sold in a matter of days or weeks.

[@jonathantaylor6926]

This is what happens when the FED has zero credibility. People financing at 7% think they will be able to refinance into 3% or less next year. The home buyers paying cash think 5 or 10% YoY price appreciation (due to loose FED policy) is now the new normal.

[@jonathantaylor6926]

@@WelcomeIncorporated Yeah rich people are probably paying cash for houses because they think the price is going to down lol.

[@agentcrypto7741]

Yup best case scenario is housing stays flat for the next 3-5years while wages catch up. The appreciation yoy is unsustainable even the hot markets are loosing steam now.

[@SpliffMeister3000]

​@user-oy5wk6sg5f umm these are known facts.. People too comfortable in easy lane...deluded naive living on credit and paying the price

[@MavRick69]

Key Point: every housing market is different.

[@JasonWalter1]

Yep!

[@SpliffMeister3000]

Not in 2008... so not always

[@redrocklead]

So much for everyone moving to TX, NV, AZ. Those states are brutal hot san diego issues heat alerts at 80. Hahaha

[@MaddieBr]

It would be interesting to find out if the typical $300k home in 2011 is now worth $900k, or if the $900k homes are newer, larger, etc.

[@House_hacker_619]

I bought my 1st property in San Diego in June 2009 for 175k and it was a flip 😂. Previous owner who bought in 2006 and paid 375k. I got lucky and didn’t time the market. Now the house is valued at 650-675k with 8 months left for tenant to pay it off.

[@eurekahope5310]

Our neighbor bought their home for $200,000 in 2009. Zillow says it is worth 450,000 now. Current owner turned basement into a three room, one bath apartment. I would think it would sell for at least 600,000 since usable square footage has nearly doubled with only a few new walls and some furnishings. But we live somewhat rural so our prices seem to not swing as drastically as the major metros.

[@rustybumperclassics6342]

I live in CA and have my whole life. Bought my house 2010 for $190k and it appraised for $630k, which is ridiculous. I remember looking at 300k-400k. Anything that was $400k is now well over $1mil. Anything that was $300k is now 7-900k. My friend bought in 2015ish time frame for 600 or so and I'm sure it's worth well over 1 mil. Now. Pure insanity

[@House_hacker_619]

@@rustybumperclassics6342 owning a property in California is like owning a piece of gold. Don’t sell it. I know a couple sold their condo in 2021 and regretted it. They thought market is crashing and their realtor friend urged them to sell. They were paying $1400 on mortgage and now paying $2500 on rent. Now they’re priced out. The sad part is they only made 100k after realtor fees and etc. Ouch

[@rustybumperclassics6342]

@House_hacker_619 damn that's sad. My dad has a rental property and he gets calls all the time from these real estate companies to sell. He doesn't stay informed with the market and he's 82 yr old. I told him never sell. They offered him a ridiculous $300k for a house that's worth $500k. 🤦

[@tlee8759]

You need to start tracking $/sf gains, it is going thru the roof. And track who is buying....people who have a ton of cash and can't be shaken out of the market in a recession.

[@Sam-dc9bg]

Will be interesting to see how prices impacts politics here. I am close to getting priced out of the state and I have a good tech job.

[@pedrelias]

Hi Jason how long can this go on? homes in the desirable areas of LA and Orange county still selling above asking quickly. Seems like only way to compete is to find something off market? Not only will they sell over asking, many times they have cash offers and short escrow closing.

[@cosmokramer9139]

The real question is, who is even buying these homes when the top 20% are the only people eligible to buy them?

[@lockup6104]

Mahalo what goes high drops low in time 🇺🇸🌴🤙🏽🍍👍🏽

[@JasonWalter1]

Aloha!

[@billnunez4887]

Yes its in the news. Texas and florida going first.

[@billnunez4887]

@@WelcomeIncorporated yep keep telling yourself that buddy

[@billnunez4887]

@@WelcomeIncorporated not paying rent. Your ego is your weakness.

[@lockup6104]

@@WelcomeIncorporated rent⁉️what a clown life experience 🌴🇺🇸BUDDY geez

[@House_hacker_619]

“Ohayo Gozaimas” Jason!!!

[@JasonWalter1]

Wafts that mean? Good morning

[@House_hacker_619]

@@JasonWalter1 good morning 😂 I was stationed in Okinawa japan from 2016-2020. I’d be a multi millionaire by now if I had military order to stay in states 😂

[@Kurplode]

日本語喋る？　すごいね！ Nice! I went to school in Shinjuku, lol.

[@House_hacker_619]

@@Kurplodenice!!! My kids had a hard time adjusting they want to go back to japan 😂. I’m not going to lie it was a great experience at the same time I missed out. Im still blessed and thankful to god. I have a friend a prior military we went to X-ray school together in 2016 and he got orders to San Diego. I thought him the brrr method now he owns a quadruplex, a duplex and a sfh as his primary home in San Diego. He’s making $12k cash flow and got out of military. Until today he still asked for advice 😂. I’m like You don’t need me anymore you’re doing better than me.

[@kyolml]

How does pending sale going down but price going up? I don’t see giant decrease in new listing year to year so people that buy just paid more for no reason? Or is it only rich people buying home and common folks are not that’s why sales decline? For example if only Mark the lizard man buy a home in the entire state and no one else , then pending home sale going down to 1 transaction, then median sale price went through the roof to $10 trillion because that is multi yard mansion

[@Triple7inHeaven]

We moved back to CA last month from CO... With as bad at the general politics are we had to come back so our kids could play outside more than 3 months of the year

[@markme4]

Yeah, all of a sudden Colorado has lots of snow and freezing temperatures 🤷🏻‍♂️

[@Triple7inHeaven]

@@markme4 actually very little snow... But crazy wind all year around with the cold... Bipolar weather... Not saying it's bad from people coming from the east.... But a CA native won't be able to deal with it for the long term

[@markme4]

@@Triple7inHeaven Yes I won't leave So Cal despite all the urban sprawl , cold and snow suck

[@billnunez4887]

Weather in cal is great but culture no good. Thats why i dont like in a 3rd world country. 80% of 3rd world country haa cali weather

[@markme4]

@@billnunez4887 You have never spent time on Californias central coast

[@renelopez2244]

I'd sure like to see when we get back to historical norms in regards to inventory levels

[@JasonWalter1]

We’re at least moving in that direction even though is far away 😊

[@House_hacker_619]

The 2008 crash is once in a lifetime opportunity for buyers. We need to see a lot of foreclosures and short sales. Those distressed homeowners with credit card debts. They can still file chapter 13 and 7 to get rid of consumer debt and still keep the house. As we all know credit can be fix. Not to mention loan modification, tons of equity and it takes 3 years for foreclosure process.

[@renelopez2244]

@@House_hacker_619 Yup

[@agentcrypto7741]

We’re getting definitely getting there and in some cities it’s even more than pre c19 levels

[@House_hacker_619]

@@renelopez2244I remember back in 2008-09. I was seeing tons of foreclosures and short sales in my market. I knew a lot of military were getting approved and buying 2-3 houses at the top of the market. They were thinking they can just rent it out and cover the mortgage. The problem is everybody including minimum wage earners were doing it which caused the builders to overbuild and 80% of those mortgages were ARM loan. We over flooded the market and renters had more choices. I remember a lot of small builders went out of business including investors. Only big builders like lennar had survived. I just got lucky I bought in June of 2009 and never sold it. I kept it as rental because I had to move due to military order. I’m also in San Diego surrounded by ocean and south is Mexico so when builders over flooded the market meaning they’re going to run out of land in the future. Dang I was right. I came back in May 2022 and builders were only building condos and townhouses. You better able to afford 1.5-2M not to mention 1k hoa and mello Roos. That if you want new construction SFH. I knew it’s not going to crash I decided to buy my 2nd property in August 2022 at 685k with rate of 4.375. I had to be strategic with a little luck on my side I found a cash flow property. Now the property is valued at 895k.

[@Sam9wilson9]

❤

[@fusion82]

Yo

[@JasonWalter1]

Yo!

[@rcchin7897]

You can thank Powell and his WH masters for this. Rates were low until they couldn‘t be kept low, and then they skyrocketed. Home owners who weren‘t in a hurry to sell did NOT want a new house with much higher mortgage interest rate, so took these houses off the market. We won‘t be done with messing around with interest rates until inflation is tamed. I don‘t see that happening soon, with the usual footdragging of the current administration with bad news.

[@49ers54able]

I’m so blessed I brought my house in 2019 in Los Banos CA for 299k 4 rooms 3 bathroom 🚽 2100 square feet now I commute two hours to work now.. ppl are moving to the valley… I think a lot of ppl are over paying for this house in Los Banos now it’s crazy… the average house in LB is 420k at 7% I think it’s like 3600$ that’s a lot not including groceries and gas

[@mega408]

People waiting for prices to drop are losing out. The same person saying it’s too expensive in ‘19 is saying he should have bought it (and still won’t buy today because it’s too expensive)

[@sunset3052]

Just curious is it 2 hours one way or both?

[@49ers54able]

@@sunset3052 from where

[@sunset3052]

@@49ers54able I thought you mean between your home and work takes about 2 hours, I was wondering if it's one way or both? I know many in the Bay area take up to 3-4 hours daily between work and home. I remember going through Los Banos in 80s, there wasn't even a freeway at the time.

[@49ers54able]

@@sunset3052 2HRS both ways

[@Steverz32]

1😊

[@renelopez2244]

Back to the top of the podium, I see. 😅

[@JasonWalter1]

Good morning!

[@Steverz32]

@@renelopez2244 girl stalking his channel ain’t easy!🤣😂🤣