What Happens If The Market Crashes AFTER You Buy A House?

[@gingerkilkus]

Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

[@JohnsonAshley-sy3lx]

Home prices will come down eventually, but for now; its best to offset some of your real estate investments and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@williamDonaldson432]

I completely understand where you’re coming from. When I started collaborating with Rebecca Lynne Buie, a fiduciary financial counselor, I really felt the advantages of having that expert guidance. It’s like navigating a boat through turbulent waters; having an experienced captain can make all the difference.

[@foreverlaura-fq4eu]

@@williamDonaldson432 I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Rebecca ?

[@williamDonaldson432]

Rebecca Lynne Buie maintains an online presence that can be easily found through a simple search of her name on the internet.

[@williamDonaldson432]

Rebecca Lynne Buie is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@williamyejun8508]

I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

[@alexyoung3126]

I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too.

[@bobbymainz1160]

Do you mind sharing info of the adviser who assisted you?

[@bobbymainz1160]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@ykdavid]

Thanks for the rent!

[@michaelcarter266]

Don’t sell when the prices drop. If you have to sell you will be buying another house that also dropped.

[@ChristopherAbelman]

I just finished my last Airbnb stay ever. The place was an absolute dumpster fire: unclean, unfurnished except for the bare minimum, nonfunctional just about everything, broken plumbing, electrical code violations, an unsecured property, constant noise intrusion, and just filth and a general state of advanced decay. The owner was clearly trying to milk it for cash while dodging responsibility. Trying to get some satisfactory resolution from Airbnb has turned into a nightmarish quagmire.

[@HildaBennet]

Most people cannot handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.

[@FinnBraylon]

US stocks had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.

[@PennyBergeron-os4ch]

I tried looking for new strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.

[@FinnBraylon]

I met Sonya Lee Mitchell, my consultant at a gala and got in touch with her. You can look her up online if you require careful supervision. I pretty much trade in accordance with her schedule and haven't been let down.

[@FinnBraylon]

Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science

[@kelvinjohnson4]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[@LionTowercoporation]

Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.

[@KelvinWallace]

You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

[@KelvinWallace]

There are a lot of independent advisors you might look into. But i work with Colleen Janie Towe and I have been working together for nearly four years, and she is excellent. You could proceed with her if she satisfies your discretion.

[@Dana-712FifthAve]

@@KelvinWallaceshe couldn’t pick a less fake sounding name? Lame.

[@bigd2256]

Market crashing doesn’t matter unless you’re selling….or refinancing (unless using IRRRL then it doesn’t matter)

[@hangguy209]

That's what most people don't understand and that's why they've been missing out.

[@doudymac]

Exactly. If you have no plans of moving anytime soon it's actually to your advantage. Less property taxes.

[@Ja56780]

@@doudymaconly if you can reasonably afford it.

[@hangguy209]

@@Ja56780 you kinda can because lenders don't just give you a loan you can't afford.

[@Ja56780]

@@hangguy209they’re kind of giving out loans up to 40 percent of what one makes monthly and oftentimes a little more for FHA. That’s not reasonable for people. Unfortunately a lot of people became impatient and/or are financially illiterate.

[@sophiewu3691]

I bought my first house in 2018. My co-worker told me that the market was so high n it wasn’t a good time to buy. Then I bought my second house in 2021. Another person told me that the market was gonna crash soon. Now I’m glad that I have a place to live in without paying insane interest or rent. N I also have rental income coming as a second income.

[@kristinj1778]

Love this! I am more worried about not being able to buy in the future, that’s why we’re buying now

[@sophiewu3691]

@@kristinj1778 good luck. I do see a slow down on the market recently in my area. But the interest rate is brutal now.

[@ScottsdaleSushi]

​@@sophiewu3691 I bought my first house at age 20 & paid 13% interest in the late 70s. People today do not know what high rates are, LOL.

[@thomasmorrison3279]

You give excellent advice. So practical. I hear so many people giving bad advice including friends and relatives. We did exactly as you suggested. Qualified for 450k back in 2002, bought a house for 300k. Fired two realtors who refused to show us homes for 300k and insisted on showing us 450k homes. Now, I own two paid off homes. One I paid 300k, the other I paid 530k. The 300k home is now about 600k and the 530k home after 100k renovations is about 1 million. Keep up the good work.

[@savannahsmiles1797]

most realtors are scum and no better than used car hustlers

[@meanmugging]

I had to get rid of a realtor too. Literally gave her two stipulations; outside of the small city I work in and my price range. Kept sending me houses outside of my price range in the city over and over. Finally, I had to just cut it. She even tried to stick me with an adjustable rate mortgage, such scams. Then, she tried selling me on a house less than a block from a high crime housing project, in the same city I told her I'm not interested in. I called her out on it, and she's like "no, that's not near a housing project" I'm like, I work in this city I know every block. Literally less than a month later, there was a shooting in that project with two victims. I feel bad for people who are less aware than me. Could get sold into a nightmare so easily

[@donaldlyons17]

WTF you must make plenty to qualify for 400K homes anyway.....

[@feguensdouze]

I can’t thank you enough This is the best video I have ever seen when you said: 15:00-15:53 “it will never be the right time to buy” that means a lot. I hope your video work with the algorithm and share it with everyone. Many need to eat this

[@MaximilianFischer497]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@henryallard245]

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.

[@EvelynBrooks0]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who witnessed the 2008 financial crisis can expect to generate a large wage.

[@MarshalWagner457]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@EvelynBrooks0]

My CFA, Rebecca Noblett Roberts, is a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@TicheDebb0]

Thank you for this tip. I must say, Rebecca 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.

[@jameswood9772]

People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

[@alexyoung3126]

buy now, home prices will not go lower. If rates drop, you can refinance

[@bobbymainz1160]

the government will have no choice but to print more notes and lower interest rates

[@chris-pj7rk]

In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.

[@lawerencemiller9720]

this is quite huge ! what have you invested in ? much more info needed please ...

[@chris-pj7rk]

"Lisa Angelique Abel" oversees my portfolio, simply do your due diligence. She's an extremely intelligent person, very thoughtful, cautious, and shows a great deal of expertise with over two decades of experience in her line of work.

[@caseybills5517]

Transfer of wealth usually occur during market crash, so the more stocks drop, the more I buy, in the meanwhile I'm just focused on making better investments and earning more as recession fear increases, apparently there are strategies to 3x gains in this present market cos I read of someone that pulled a profit of $350k within 6months, and it would really help if you could make a video covering these strategies.

[@StocksWolf752]

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.

[@cowell621]

Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.

[@StacieBMui]

Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.

[@cowell621]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Rebecca Nassar Dunne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@VictorBiggerstaff]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@DanTheMan356]

I’ve already bought my house, but I still like to watch your videos because they make sense and I like to share these vids with my friends and family.

[@ClementRusso2]

I anticipate a housing market downturn due to the numerous individuals who purchased homes above the asking price, even with favorable interest rates. Despite the low rates, many are now at risk because they lack equity. If housing prices continue to decline, they may face difficulties selling or even risk foreclosure if they can no longer afford the property. This scenario is likely to impact a substantial number of people, particularly with the anticipated surge in layoffs and the rapid increase in the cost of living.

[@VickyAlvy]

Consider reallocating from real estate to stocks. Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not a financial advice, but it may be wise to invest, as cash isn't ideal in this period.

[@antonnohr]

She seems highly educated and informed. I looked up her name on Google and found her website. Thanks for sharing.

[@franquil85conn]

People bought over asking because of low interest rates and supply demand issues. If I paid 800k at 3.5% and you paid 500k for the same house during a downturn, but the interest was 7.5% who do you think lost money? Well if I make my payment of $3,592 a month for 30 years, I will have paid $1,293,120 for my 800k loan. You on the other hand would have paid virtually the same over the life of the loan (1,258,560 or 3,496 a month). Interest rate matters way more than home value and people paying "over asking" with cheap money isn't an issue unless they have to sell

[@treyatl2006]

25 percent of your net income going towards your mortgage is ideal but isn’t all that practical with todays interest rates and home costs. If the median household gross income is $75k, then the net income is approximately $56,000. That means the typical family mortgage needs to be between $1100-$1200. It’s hard to rent an apartment for that amount let alone purchase a house.

[@hw6271]

1200 is a dump in most west coast cities

[@wayward03]

@@hw6271 couldn't find a dump for that in most places. I'm having a hard time renting a home for 2500/m

[@coriebarnes8680]

In Chicago that will get you a very nice studio or an outdated one bedroom. No chance of a new modern or renovated one bedroom. Those are about $1500. Chicago is slowly creeping up on Cali rental prices. The luxury apartments are already there and some have surpassed Cali prices. Affordable housing is escaping the Midwest too.

[@kennethalbert4653]

YES ! If you're anywhere near an average income, you are "underwater" whether renting or buying.

[@-Jason-L]

Move to a cheaper cost of living area. Its that simple. I moved 45 minutes outside of the city, to smaller city - bought a house for over $100 sq/ft less.

[@Evelyn32423]

This happened with the 2004 housing boom - home prices were greatly inflated, meaning people couldn't sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it's taken until the COVID housing boom for the prices to come back to those original amounts.

[@Scarlett34568]

To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!

[@Hazel5063]

You're right. I was able to diversify my 450K portfolio across markets with the aid of an investment coach, and I was able to use high dividend yield stocks, ETFs, and bonds to generate a little over $830K in net profit.

[@Hudson367]

That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

[@Hazel5063]

My Financial adviser is ‘’CATHERINE MORRISON EVANS’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market

[@Hudson367]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@frozenpride8713]

That's what I keep telling people who are telling me to buy now and just refinance. Refinancing is not going to be that easy when your house goes down 80k in value.

[@christyp4264]

We purchased a home at a high DTI, I was not able to work due to pregnancy complications needed to be on bedrest. We were extremely stressed and living paycheck to paycheck. We sold this home after less than a year losing all of our downpayment and getting a check of about 5k back. We now want to buy again but with a mortgage that one of us could pay alone if an emergency happens. Living paycheck to paycheck is never worth it. We are now happily renting and waiting to buy below our means when we are able to save for the downpayment again.

[@CliveBirse]

With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $125k bond/stock portfolio

[@Grace.milburn]

While there’s more pain to come, investors should look for stocks like Royal Philips NV and Alstom SA that have been beaten down enough that they’re a bargain or get a good portfolio manager.

[@ThomasChai05]

Agreed, I've been consulting with a Financial Analyst for about 8 months. While it's easy to invest in trending stocks, knowing when to sell is crucial, and my manager helps with entry and exit points. I'm 40% up in profits in just 5 months with my initial capital of $160k.

[@mikegarvey17]

@@ThomasChai05 Impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now

[@ThomasChai05]

My advisor is *Camille Alicia Garcia* . You can easily look her up, she has years of financial market experience.

[@JulietKellyy]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@yarilarymusic]

I am currently a Taylor. Almost became a Sam 2 months ago cause we wanted to get out of our place we were renting. My husband and I analyzed the situation and decided if we made the move we would could potentially be stressing about our financials which we never do. So we decided to pay off the car first and to keep building our savings to be in a better position later in the future. We did move places, we are still renting but we are happier than the other place. We always keep looking online what's coming out cause we want to have our own place one day, but we understand it's going to take us time.

[@pedepot]

Happened to my current home purchased in 2008. $345k value, worth $255k 2-3 months later. Horrible luck. Luckily it's worth $500k today.

[@YoPhocFays]

My neighbors that bought in 07' got mad and held on, now their home is more than they paid. It was more an emotional than financial hit

[@YoPhocFays]

@@DavidM-h7c And where do you think they're going to live if they didn't have a home? They'd have to rent. That's money down the drain dummy. Losses and gains aren't realized until after you sold the property. So anything that happens between them doesn't make a difference If you need a place to live.

[@OroborusFMA]

I just sold my late parent's house for 375k. It was valued at 260k five years ago. I wanted to get the closing done as quickly as possible because I'm convinced the market will tank soon. If not now, six months from now, the house isn't going to be worth close to 375k.

[@svuvmdv4608]

1031?

[@BigFanCooks]

100% agree

[@adrian8967]

Everyone's been saying home will drop for the past 2 or 3 years...if homes drop...which they will....it won't be as significant as people think

[@kristinj1778]

6 months later & the market hasn’t tanked …

[@FourthWayRanch]

Should have kept it and rented it.

[@dylanherring9095]

There is a time when you can say "It is the right time to buy" and that time will be when you look at your financials, compare your income, current job outlook, expenses, debt to income, and housing prices, and determine that you will be able to afford the house. Maybe it will still be scary, but at some point it goes from being "Scary because if you buy, you KNOW you will drown" to "Scary because its a big step, and you think you can swing it but obviously nothing is 100% for sure" and those are two VERY different situations. Most people I think find themselves facing scenario A, where if they did buy now, they would sink very fast.

[@karinayoo1751]

Your editing skills are top-notch! The way you've crafted and polished this content is truly remarkable. It's evident that you have a keen eye for detail and a talent for making videos. Kudos to your editing and content creating prowess! Please create more videos like this Javier. You have a big contribution in the market. Thank you ❤️

[@bernitup6492]

It's crazy how people think it is going to crash like in '08... it won't. Many checks and balances were made this time around that it was hard to get a loan if something seemed off. I still continue to get monthly offers from OpenDoor each month which I just look and throw away. Not selling anytime soon. I would get 2-3 jobs to keep my low payment/rate. Way cheaper than renting or buying now.

[@anniealexander9616]

How much is open door offering you for your home? Have you looked at their stock prices lately? 😳 It's easy to say you would work 3 jobs to keep your home. But what happens when layoff begin and everyone is swooping up any extra work that comes along. I mean back in 08, my kids couldn't get teenager jobs because 40 years old men were bagging groceries. People who couldn't pay their mortgage, weren't paying to have their lawn mowed or their deck fixed. You should be asking yourself if you could pay your mortgage without a job.

[@duxburyrealestate]

The crash will be worse than 2008.

[@bernitup6492]

@anniealexander9616 getting offers way over what I paid... I have set myself up to be able to pay over a year if something happens but I would rather work 2-3 jobs not to dip into my savings. This is a dog eat dog world... most people need to get over themselves and accept that no one is going to make it easier for you no matter hold you are.

[@bernitup6492]

@duxburyrealestate would be nice, would just make it easier for me to pick up another property.

[@LilaKing-l4r]

This person is mad

[@-METAH-]

I got a scenario. We almost bought a house in mid south FL it would have been about half of our income. We decided not worth and we would just wait for prices to go down a bit. We started renting and the rent is about 20% of our income. A week later our dog gets diagnosed with lymphoma. Now we are spending 2k a month for about 4 ish months for her treatments. (she is in remission). If we had bought that house we would have been in big trouble.

[@ryanb.6498]

Hope your Dog has a full recovery

[@BKLNHobo]

You're only truly up a creek if you lose your job, can't afford to keep paying the mortgage, and are forced to sell on that basis. That was the straw that broke the camel's back in 2008, and the flood of houses that hit the market at once compounded it. Of course, buying well within your means and maintaining a healthy emergency fund are the best protections.

[@Ja56780]

Very true, however a good amount of people are not buying within their means and I’m not so sure about people having emergency funds. If we Americans have a high amount of debt nationwide I don’t think a lot of people have emergency savings.

[@MyerShift7]

I wish I could have bought in 2019 ; I could have gotten my grandmother's water front home for $140K. 2022, when I was in market, it sold for $258K. It's awful, not right, and and not fair.

[@hangguy209]

Absolutely nothing if you aren't trying to sell

[@britefeather]

Or refinancing

[@hangguy209]

@@britefeather yep. You have to be able to afford your mortgage to get pre-approved anyway. So all you gotta do, is pay what you're approved for.

[@J_WheelerDoll30]

I nearly choked on my water when you said, “a failure to your father.” 😂😂 We’re buying next year.

[@JavyVidana]

My therapy is coming out in these videos.

[@grownupgaming]

As an Asian, I can say that is the default assumption any son should make.

[@Ja56780]

“When the market takes a dump on you” 🤣

[@J_WheelerDoll30]

@@JavyVidana it’s warranted 👌🏾

[@Lumpia_In_Texas]

you only lose money when you sell. keep the house for 10 years and you will be ahead.

[@DonaldMark-ne7se]

I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.

[@NoorFrohock]

I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?

[@Odmark-u5f]

There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts

[@PitcockRoth-9876]

Exactly why i enjoy my day to day market decisions being guided by a portfolio-coach, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/ analvsis they have, it's near impossible to not outperform, been using a portfolio-coach for over 2years+ and I've netted over 400k.

[@NoorFrohock]

hello , Where can I find this coach?

[@PitcockRoth-9876]

She goes by ‘Carol Vivian Constable’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

[@qbanb8582]

This kinda happened to me in 2008. I find if you buy a house that you can afford and you plan on staying in it doesn't matter. The value of you house only matters if you sell it or if you want to cash in on the equity. But I bought my first house in 2008 for $125k, I didn't start having equity in it until 2016 when I refinanced. Then I bought my 2nd house in 2021 and rented out my first house. I closed on the sale of my first house 2 months ago for $260k. So its not the end of the world if the value of your primary residence drops.

[@donna.billy13]

Started as a TAYLOR, and then later on I became an ALEX. I observed the market first and gather enough data and info before I jumped the pool. Now, I'm in a much better financial position. Thriving and not being stretched out. Planning to get my 3rd house this year, this video helped me relived my wise decisions from the past. Thank you, Javier for this important talk. This helped me alot in my future plans in owning more houses. You never disappoint me in making rational updates about the market ., keep making videos!

[@insomnia9999]

Bought in Feb 2021 with 2.785% interest on a newly renovated home for 289k (initially priced at 399k- the developer put the home on the market March 2020 when everything shut down and it sat for almost a year) I am a first time buyer and still cried when I bought it because I’ve never wrote a check out that big before in my life. I am just now truly understanding how much of a deal I got. I’m so grateful for your videos. I watched them all of 2020 which helped me bite the bullet and buy. There is no good time to buy. You just have to be at peace when you purchase.

[@herjoy2]

big congrats on your first home. i hope you enjoy it for a long time. congrats again

[@Rhgeyer278]

The greater the automated income you can build, the freer you will become. Taking the first step is the hardest, but 5 houses later living off automated income since July 6, 2016. You've got to start taking steps to achieve your goal.

[@PennyBurdick318]

Creating wealth and financial freedom isn't as tough as many people believe. Building wealth and remaining financially stable indefinitely is a lot easier with the appropriate information. Participating in financial programs and products is the only true approach to make a high income and remain affluent indefinitely...

[@allympili3437]

As the economic crisis keep rising, one needs to have different streams of income, a well detailed diversified investment portfolio in the financial markets is needed to survive, as well as secure a profitable investment future, Thanks so much Mr Samuel Peter Descovich for improving my portfolio

[@AnnaKrueger809]

Thank you so much for the advice. Your coach was simple to discover online. I did my research on him before I scheduled our phone call. He appears knowledgeable based on his online resume.

[@livingholistically1485]

This happened to my dad. The difference is this happened after finishing paying off the mortgage. Everyone seemed to have lost a 0 in the bank. And he said he was grateful for having payed off the house before, implying he would have not the money after as many people lost many opportunities. I also believe he was realistic by thinking him as a professional baseball player with not much other skills could continue to make as much money as he was making at the time. And now I don't have to worry about paying his bills yet.😅😅

[@AW-xz9vc]

It is awesome how you lay things out on a home buyers, living day- to-day, with basic income. I am almost 60 years old, and have been around the real estate block a few times. I have had to actually, use my own budget as an example, to show Young ones, that the real estate agent was wrong in telling them they could afford a $200,000 house. In all actuality they could only afford a $90,000 house, after writing down every single thing they buy in a month.

[@sergeydudukin4214]

good luck finding one

[@mr_boom105]

I was a taylor for a few years waiting and observing. Ive come to the conclusion that the crash isnt coming. Where i am in the dc metro area we're fairly insulated from market down trends. While other areas are seeing a decrease in home values my area has been on a consistent rise. As soon as interest rates drop the housing market here will just go into a frenzy and prices will sky rocket.

[@EMan-cu5zo]

I used to live in Fairfax Va. The home prices seem to only go up.

[@rathelmmc3194]

@@EMan-cu5zo Government prints money and those areas have a massive amount of government workers. They're not real markets.

[@chexterkat]

Can you please dive into when people pull helocs and then their house prices drop?

[@REALenvizible]

My friend had a home built for $350k. It took over a year to build, and it was worth $500k the day he moved in.

[@xxtoptankxx6873]

I hope he is ready to pay the property tax increase.

[@duxburyrealestate]

Not now

[@candelariaw1668]

@@xxtoptankxx6873hater

[@xjleitex]

The market is so funny because I have 4 or 5 friends who bought a house during Covid when everyone was saying it was a terrible time to buy and now they are all sitting on over 150k in equity.

[@devonphillips8119]

Lol yes, Javier you are so right... parents will always advise... this is EXACTLY what my mom told me in October 2019 when I bought our first house. "Can't you just wait? I think you're rushing into this. This is not the right time for you." Welp.... !!! Sure is comforting now to know that we bought at the right time for us.

[@rippleyaliens8275]

1. If ya Have a change, in INCOME..-Buying a house, grounds you to the geo area. 30-45mile commute, and with that the headache. 2. IF your neighborhood, is dependent on a certain employee. And the HIGHLY Probability of the hood, depreciating. 3. IF dependent on DUAL income, to maintain. Garage door, Stove, Oven, Furnace, Dishwasher, Washer, Dryer, ALL within 1st 5years.. THE KEY!!!!! for ownership, is that "STATIC" Mortgage. Same price, till ya pay it off. First 2YEARS!!!! Suck!!!!!! Buyers remorse, Sudden JUMPS in bills, Unexpected costs.. NEXT 3Years.. It gets much, easier. SAME PRICE.. per month, but other expenses have sky rocketed. RENT is the great equalizer. Suddenly your Mortgage, is SIGNIFICANTLY Cheaper than rent. The COUGH sped things up a bit, but overall. 10Years later.. YOU Are glad as hell, as your mortgage, is suddnely %50 the cost to rent something smaller.

[@candelariaw1668]

You don’t benefit from renting, you’re paying your landlord bills!!!

[@rippleyaliens8275]

@@candelariaw1668 Be homeless and say that again. MEANING the benefit is Shelter. HOW do you save while renting??~ Live in a cheaper part of town. AND!!! ROOMMATES. As that is the only way. 2023.. And you actually think the RULES have changed? This is the exact same GAME. Nothing has changed, except the prices. Young folks think this is advanced..Under the age of 30, thinking they can live like the Big Dogs, LOL..

[@miguelcarmona9645]

This is a very insightful video, I've been contemplating buying a house but my gut keeps screaming its a bad idea. This was super enjoyable to watch and liked how it felt like i was talking to a person and not someone dumping information on me. Keep up the good work man I'll keep following you and wish you success.

[@1101-f6z]

a clear indication of an actual houses price is if a person living within a 5 mile radius use only 25% of their income to their housing expense. If not then the house is over valued and you shouldn't buy it. IT'S THAT SIMPLE. if you get scammed that's on you.

[@tripac3392]

Some of us buy cash. We don't use debt to income ratios that's for losers

[@rennymed]

We bought our first house at 2.5 in 2020 hoping that it would be a great investment and we could move in a few years. Luckily we have a very manageable payment and will be fine staying here, but it still sucks to learn that we just missed the party

[@TRAVIESO_NA]

When you go upside down it can take years get through it, my old roommate this happened to them, they moved out the house and rented it’d it. And they held on till it bounced back. They waited. They still own it.

[@Trucker2023]

I purchased my home, but first i needed to do a little research on the property, I went to county records I found out when (What year) it was built who was the contractor was how many owners and what the sales were at the time of purchases. If I came across a home sellers selling their property for a crazy amount I would walk away. I homes value just doesn't go up 30 40 a hundred % within a year or two that's crazy. they can keep it.

[@bobbymainz1160]

With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $600k savings other than moving in to an RV with my two kids and wife.

[@alexyoung3126]

You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.

[@jameswood9772]

In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments

[@lawerencemiller9720]

I will be glad to enlist the services of a reputable one? How do I go about finding and vetting them. We know the value of a fiduciary as we have a family lawyer and he has hinted on it occasionally, so we began to consider the idea.

[@jameswood9772]

I personally have my portfolio overseen by California-based wealth advisor and fixed income strategist at that 'Natalie Marie Tuttle' well established and you'd find her professional bio on the net. However I suggest you look closer to home, sometimes to move certain amount of money I am required to be in California.

[@lawerencemiller9720]

copied and pasted her name on my browser, came top search, I've seen commentary about advisers but not one that looks this phenomenal, I set up a call with her, very much appreciate it

[@anya8221]

So true - it's always scarry to buy, make the best decision for yourself as wise as possible. My goal is retire with a paid off home.

[@michhmushh]

This is by far the best video I've watched in a long time. Thank you for your insight! The swimming pool analogy was very helpful!

[@Frescobar170]

@ 16:02 you said in a video about a year ago that you are incentivized to market home buying and selling. Your words!

[@ChrisChaChing]

This is super informative, love how you explain it in layman terms and use examples!

[@LifeWithAlliDaily]

This video just brought me so much extra peace about the decisions we've made 💜🥳 Best video ever! 🥰 Thank you 💜

[@JavyVidana]

Glad it helped! Love the Purple Hearts

[@felipelima-w4m]

I just noticed that now in Zillow, it is showing a lot of homes for foreclosure in Phoenix Area. There are two just one block around my home and a lot in Mesa, Gilbert, Tempe. Did someone notice the same? To be honest, I did not select the option for "auctions" for the listings before, and maybe now Zillow is putting that in a recent update, but I am seeing that there are a lot. Someone noticed the same?

[@Miles-wy1zr]

So if my house value goes down will my taxes go down as well?

[@brianN9955]

Probably not they don't care

[@broccolirocks4381]

Yes, your assessed value will decrease which will lower your taxes.

[@peacefreedom4930]

Yes

[@Miles-wy1zr]

Thanks guys

[@mph5896]

In theory yes, in actuality🤣

[@AndreasAntoniusMaria]

If the market crashes and a house is "under water" there is no problem as long as you are able to pay the bills and stay in the house. In 10 years or so the house will be above water again. If this happens on a large scale only people who absolutely have to will sell their homes, inventory will stay low for a longer period of time.

[@brianK05]

Interesting, I feel like the worst that can happen is that if you are underwater, you will not be able to refinance if interest rates go lower again. Nor sell without having to pay the difference

[@BKLNHobo]

You may no longer be underwater by the time intetest rates fall as you'll have made years of payments in the interim.

[@carlosb.9032]

The housing market is like stocks. You don't really win or lose until you sell. As well as when you do decide to buy in, it better be something you can afford to get and keep for amny years. Not something you hope will change soon for a quick profit on that penny stock.

[@JavyVidana]

But is the one piece real??

[@midlifecrisis7888]

Houses were supposed to just be a place to live, not an investment or a way to protect yourself against inflation. Thank you cantillionares and central banks.

[@beachdweller3378]

Right on! We are a society that doesn't want to work to make money but own something and hope it goes up in value to make money.

[@MsOrangekoolaid]

Exactly

[@yvette11111]

I bought within my budget in 2019. My monthly mortgage is $1100 with a 2.37% interest rate and my insurance fluctuates between $100 - $150. I don't have to pay taxes. I'm holding no matter what because we won't see low interest rates for a while and probably never see 2% interest rates ever again. I'm never going to refinance or get a HELOC on this home. It's just not worth overpaying. I bought a new build for $307,000, currently valued at $413,000. If the market drops, I feel like I'm still winning because I'm surrounded by homes up to $600,000 in value and I'm able to save lots of money through the storm.

[@TopVillain]

Where you live where you don’t pay taxes

[@rodrigocortes3641]

@@TopVillainikr sounds like BS

[@goldenlifelove7251]

​@TopVillain some disabled veterans do no pay taxes on their homes.

[@charityscreams5366]

In Texas 100% disabled vets don't have to pay property taxes. It makes a big difference.

[@Splenda2021]

@@charityscreams5366big big difference I’m very blessed for this vets buying just the average priced home saves 500 or so a month in house payment

[@JamesMartin2014]

should have gone lower and got what, a brick ranch 2 bed built in 1968 with flowered wall paper, a bad roof, and salmon colored carpet?

[@chinnachaitu123]

very well presented and explained than the scariest crashers on the youtube.. keep up the good work

[@nd603]

I live in Orange County, CA and purchased my house in 2016. The value has more than doubled and I’m seriously considering selling to cash out that equity. It’s hard to pass up that much money as the market will most likely correct itself as these values are crazy.

[@rathelmmc3194]

Isn't rent cheaper than owning in OC? I'd totally sell my house right now if it wasn't for the fact that I have young children.

[@nd603]

@@rathelmmc3194I bought in 2016 so my mortgage is cheaper than rent right now for the same size house.

[@julystylez5087]

Sorry to break it to you but if you don't buy a home now with a pullback since last year. It's predicted to skyrocket within 2-3 years once the rates drops again. And remember home value generally corrects then goes up even higher than before. My home right now was purchased for $500,000. Home prices dropped it went to $400,000 (Didn't effect me at all). Now in 2023 its listed at $800,000. Don't worry too much about day to day, month to month price moves. Long term it will be worth it if you can afford it. You will build equity.

[@exile9237]

I hope so..

[@copiouscat]

Exactly!! Not only that by then it’ll be damn near a whole auction all over and a guaranteed bidding war 🙃🫠 I’m glad I got my home mid range price with a mid rate

[@jessicabixler1658]

I bought a home in 04 and 10 years later is was still worth about what I purchased it for. Sold in 17 then it doubled in a few years. I was able to rent it for more than my mortgage but right now mortgage payment would be double anything I bought to what I could collect on rent. And rents are on the decline.

[@jessicabixler1658]

Plus demand will slowly decrease from here as millenials are passing homebuing age peak and boomers that own 64% of homes will age out.

[@mine1685]

Oh My God!! This is EXACTLY the video I needed!! You explained it so from your heart, you covered things so thoroughly that I can't thank you enough. This was a God-sent video to me and all I can say to you is this: Thanks a million and God bless you big time making this extra ordinarily good/useful video!! Congratulations! You really rocked!

[@BeaSiegal]

Most lakefront communities in my county are in the suburbs and with high home prices and taxes. I bought a home in one of the few lakefront communities in the city proper which is rare opportunity. I was patient, stayed ready, and closed on Friday. My home value will always be stable because sales are rare in my area and most homes are inherited, pocket listed, or paid off by the current owner.

[@jbcfamily4802]

This will not happen in Florida. You literally can't build fast enough to make up for the people coming here. $300,000 is cheap already. Easily affordable for a 2 worker home. They will never go below 300,000 for 3b2b ever again.

[@Jack-pd4ps]

Vary good video. 15:00 was pure gold. Especially about the crash videos.

[@coloradobrad6779]

I bought 2. Not sipping margaritas. Yet. 😂

[@noxproductions6851]

What happens when you buy your house with cash (in full) and you have no intention of EVER moving/selling?

[@Katadori09]

16:54 this comment about “it’s never going to feel like the right time to buy a house” is beside the point. It shouldn’t be a gut feeling. There are rational metrics that can be used to objectively tell you if it’s better to rent or buy. For example, the price:rent ratio, which breaks even at about 15. Above that level, you can own the house earlier by renting it, saving the difference, and buying it in cash as soon as you are able to. Or the price:earnings ratio, which in a healthy real estate market is around 3-4. These metrics are off the charts right now. Not just a little bit, but so much that it indicates a serious overreach. Will it come back? Maybe, maybe not. Can’t read the future. But at some price level, the feeling of owning a house, the locked in price, the sense of belonging in the community, etc. are not worth the price. A lot of a house purchase is narrative. You’re buying an expensive feel-good story. But you know what’s not a feel-good story? The $100k down payment that has declined in equity over the last year, whereas it could have been sitting in one year bonds right now for 5.5% yield. That’s a double penalty, one for missing the gains, and another for suffering the losses.

[@timothythompson4036]

We bought our house here in NYC in 1990. We were terrified. Everyone was telling us not to buy a house in NYC. We paid 181k for it in 1990. Now it is worth 800k. Best investment we ever made I'm glad we didn't listen to them. True story!!

[@FourthWayRanch]

But you have to move somewhere else to actually get that money

[@timothythompson4036]

​@@FourthWayRanchTrue, but if you stay as a renter you have nothing.

[@grlfromtx09]

the problem for me is spending $$$$ on a meh house. not worth it.

[@juansoto1588]

I don't think we should compete with corporations. We need regulations that restrain their greedy asses

[@koyadario]

Coolest vid you ever did. editing is on point and your thoughts are so rational , javier. nice job. thaanks for this one

[@thejuicerr]

Finally an honest video on KZbin

[@LadyOrion2012]

We have thousands of homes for sale in our town/small city and all the surrounding small cities and burbs. Virtually all want between $400K to $800K. It doesn't matter if its a 1000 sf money pit. Very few homes below $400K. The few for $350-$380 and some of those have huge issues or are fixer uppers.

[@snackman2005]

Very very good point. The value of your home is meaningless unless you are selling or refinancing. I'm not sure why people get stressed out if their home value goes down a little. Kind of like the stock market. Sometimes it goes up. And sometimes it comes down. It's all in the timing.

[@dougg4633]

We bought 20 houses (08- 2020) And we're watching your video !

[@turtledude01]

I bought a duplex in 2021 for $150k, all the online calculators estimate it to be worth nearly 200k now. I basically only pay utilities and have a massive space. Have one side rented out and have a roommate in my side. This is in rural wisconsin, but its still insane!

[@Aye_ohhh]

If the home value drops, is it possible to get the home reassessed to lower the property taxes?

[@JavyVidana]

Should be

[@tombev9717]

Excellent content and advice

[@Roland597]

Meanwhile, here my wife and I are with Golden Handcuffs. We go interest rates below 3% and now basically can NEVER refinance, and HELOC's will always look painful compared to what we are paying on the mortgage. Its a good problem to have for sure, but is still a problem as it removed options and makes that payment very inflexible.

[@Erribell]

What if youre underwater on equity and you lose your job and the bank forces you to sell via foreclosure? Its a bad financial decision to buy at the top.

[@laurenmeshaye1498]

Very helpful information. Great insight and perspective. 😊

[@nadiacoffey2609]

What happens if there’s not a house that is similar to yours to compare? When we bought our house we waited forever for the appraisal because the appraiser said there weren’t any comps. It’s possible that he was just bad at his job, but the inventory for homes was low at the time. He found one house, so he said our house was worth the same as that house. It concerns me. We bought our first home in 2008 and the market went down even further after that but then it came up years later. The market fluctuates so if you’re planning on staying in your home for a while then you’re probably good, just make sure you do things at the right time if you’re planning on re financing or selling. If you’re trying to take out a home equity loan for remodeling or something, then you’re going to have a problem. You would have to secure financing in a different way.

[@buddy-chan-nel]

thank you for realistic down to earth advices

[@StardustMonkey]

We bought above our means in California … but we used the CA grant to convert our garage into an ADU for free and that rent pays almost half our mortgage.

[@ee7369]

Is the recommended 25% of net income including property taxes and insurance costs?

[@bidensucks6792]

Just before the last collapse I was set to put a $250k deposit on a house that wouldn't of been started until the 4th fase of the development in 2010 to be completed in 2011. This $ was almost 1/2 of the homes price in 2009. I really dodged a bullet, that plot of land is still empty to this day. I ended up getting a for closure on the street I grew up on for $93k. I sunk the other $150k remodeling the house, pool and new AC units. Homes around me sell for over a million. If I had gotten the house I planned on I would only be 11 years into a 30 year mortgage today. As it s, I have never had a house payment in my lifetime.

[@backwooddesignco]

Just curious..if you’ve never had a house payment in your life, where did the initial $250k come from?

[@bidensucks6792]

@@backwooddesignco Their is this thing people do to get money, it's called having a job and working!

[@Chron1c_Nugz]

The best highlight of this video was this phrase, "if you don't plan for the worst case scenario your gonna be In a bad spot". 32 years old here just paid off my House workin a blue collar job building homes in the trailor factory industry for the past 8 years. Work hard now and make life easy or work easy and make life hard!

[@mhep9367]

I bought a house and it's paid off, it's a street off the beach. It's in the top 3 retirement areas and growing, but land is not here at the beach but inland 10ish minutes away is cheap... if the market tanks, no worries, I'll wait cause this market will not slow. People are moving out of big northern cities locked in on Southern Beach living. I'll site and wait and buy into a sleeper market, Mississippi (sounds crazy but their is logic, but that's many, many years down the road.

[@pamelaclay3314]

Great commentary and information.

[@tarikviaer-mcclymont5762]

Do they decrease property tax as a result

[@Mosessousa1]

I used your water analogy, only my version of it, other day with one of my customers

[@avi8tor131]

Bought our house in 2020 for 310k. Houses same size built in the year in our neighborhood are now selling 400k+. We only owe $230k on our house so I feel like we have comfortable cushion. Not to mention we got one of those 3% interest rates.

[@jacobg3169]

As a first time homebuyer, I'm praying to God almighty for a market crash 🙏 please happen soon 🙏

[@NoNumberListed]

I know many people that refinanced and took money out. They are in the same position as someone who bought high as they will also owe more than the house is worth.

[@MarcDoughty]

This happened to me. Bought in late 2008. I was underwater for about ten years. I'm glad I stayed in it now, but I definitely deferred a lot of maintenance (hard to throw thousands into an asset worth -$65K on my balance sheet). It also kept me from moving or taking out any additional loans for a while. The way I look at it now is that it's been a reliable and inexpensive place to live. I'm paying roughly what I could afford single early in my career, but I'm mid-career and married now, so it's very affordable (and oh boy, are we doing all that deferred maintenance).

[@doudymac]

I'm guessing you were planning on taking out an HELOC/HEL for the maintenance or upgrades ?

[@mph5896]

Yeah, I got hosed when I bought in 2007. Stuck in that house that really didn't fit my needs until 2014 when I sold and only lost $5k on it.

[@mph5896]

@@doudymac If you need to borrow $ for upgrades, you cannot afford upgrades. Cant afford maintenance, you should not have purchased a home.

[@doudymac]

@@mph5896 Exactly

[@lucyv4416]

That’s me !! 😅 but idc. I’m not selling Ever so it doesn’t matter to me. If I dump it, I won’t be able to ever buy a house again so I rather keep what I have that I’m happy with

[@kendigjl]

The right time to buy is when you're tired of paying someone else's mortgage and would rather pay your own instead. When you'd rather build your nest egg instead of someone else's. Forget about timing - just plant your flag (buy your home) and then defend it (pay your mortgage in good times and in bad).

[@ObserverDriftMusic]

Lol

[@sluggingbread]

Lol

[@candelariaw1668]

Yessssssss