Why Home Prices Haven’t Crashed… Yet. Housing Market 2024

What is really going on with real estate and home prices? The TRUTH! You need to look at the broader economic trends, the stuff no one else is looking at, to figure out what is really happening here. Will the 2023 housing market crash and enter into a housing recession? This video explains the data behind these leading indicators. Lots of buyers believe real estate crashes because of higher interest rates, but here are the facts that I see currently happing.
Why the housing market hasn’t crashed yet? This video is the housing market crash update...home prices surge higher!
✳️ 13 Affordable Home Lies!…NEVER Buy A Cheap House Without Knowing This! - • 13 Affordable Home Lie...
✳️ Absolutely NEVER Buy This Type Of Home - • Absolutely NEVER Buy T...
✳️ 7 MASSIVE LIES About Manufactured (Mobile) Homes AFFORDABLE HOUSING! - • 7 MASSIVE LIES About M...
✳️ MUST KNOW Before Buying Land and Building A House - • What You MUST KNOW Bef...
✳️ Alternative Places BEFORE Buying, Relocating or Retiring to Florida! - • Moving To Florida? Alt...
✳️ IT’S OVER: Condo Owners CRUSHED! What You MUST KNOW! - • IT’S OVER: Condo Owner...
✳️ AVOID LIVING IN A 55 PLUS COMMUNITY - • AVOID LIVING IN A 55 P...
✳️ REVEALED: Living In SOUTH CAROLINA vs NORTH CAROLINA - • REVEALED: Living In SO...
✳️ INSIDE 3 NEW AFFORDABLE HOUSE TOUR IN SOUTH CAROLINA UNDER $300,000 -
• INSIDE 3 NEW AFFORDABL...
✳️ AVOID MOVING TO SOUTH CAROLINA - Unless You Can Deal With These 10 Facts - • AVOID MOVING TO SOUTH ...
Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
🟢 Start Here! - www.HomeGuideMyrtleBeach.com
Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.

[@kwadjookai8172]

Housing is not going to be fixed until the institutions stop buying residential homes

[@kenbagwell8551]

They have basically stopped doing this (they can't afford the interest rate either) so, I guess you got your wish.

[@bennyragz]

​@kenbagwell8551 blackstone has nearly a trillion dollars in assets. You really think they care about interest rates.

[@cjdflkj]

@@bennyragz yes, of course they do lol they don’t just wanna throw their money away, they aren’t buying with cash, you don’t make money that way.

[@Kurplode]

@@bennyragz all investors leverage debt. They depend on low rates to have cash flow. They’re more or less out of the game because they can’t buy at todays rates and cash flow it. Also, most areas are not seeing home appreciation. It’s either extremely tiny, flat, or a decrease

[@Kielforreal]

Paying cash. No mortgages.

[@Rochelletrem]

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.

[@georgebarret]

You are right! I’ve diversified my portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@georgebarret]

it's best you do your due diligence, I have my portfolio overseen by “JULIE ANNE HOOVER” and her qualifications speak for itself. Most likely, the internet is where to find basic info, she has a noticeable page for consulting.

[@chriskiviphoto]

Last time I heard the president of the United States speak, He said everything is going great. In fact, he said high school graduates can earn 140,000 a year at the union. I'm trying to find the number to call because I'm only paying $400 a month in a shared rental - and I might be able to afford a house making $10K a month

[@rjrickenbach4346]

We have enough demand to absorb inventory before foreclosure is necessary.

[@jennyhao4076]

​Ok0

[@ZENIGMATV]

Must ban corporate investors from buying single family homes.

[@JSustain]

Also, what concerns me is that individual homebuyers are competing not only with each other, but with large commercial interests, both here and from abroad. So I am thinking it may not matter if people lose their jobs, these corporations and foreign investors will still scoop houses and then rent them out. My understanding is that this changes everything.

[@juicy2fresh]

The thing about rentals is that everyone has recently gotten the bright idea to become landlords. The over saturation of rentals is going to tip the market.

[@jcschwarb]

I read that NL put a stop to that and all of a sudden a ton of homes were available overnight. I get the impression we have plenty of houses if/when we can get the market to collapse.

[@JerryPinkas]

This is true! Mini corporations are taking the affordable homes completely out of the marketplace and turning them into rentals. Thank you for taking the time to watch and a comment here on the channel. I’ll see you in the next video.

[@JerryPinkas]

Thanks for watching and commenting

[@JerryPinkas]

Thanks for watching and commenting

[@perryty4127]

What is really going on with real estate and home prices? This is very disturbing, I was thinking about going into Real Estates on a commercial level now the industry is in a mess. The solution to this problem is far from me at the moment.

[@lupinorr7255]

It's not a dead end, there are a lot of other things you could look into; gold, stocks, stable businesses etc. Personally, as one who has always been sceptical about the Banking system, I always explored alternative means of holding and possibly making profit from my money. I recently made my first million from stocks and I used the money to diversify into other things so if one goes wrong, I don't go underwater. The major downside is that you could also lose your funds which is easily remedied by using an expert or making very thorough inquiries. Good luck.

[@tarumvole269]

story of my life

[@lupinorr7255]

@@paytonhall1329 Yeah, I used one but that's cos I'm not so knowledgeable in the field and I battle with time constraints. Not really sure I'm permitted to go into details here, but mine is Abraham Adam Keith, and you could possibly find more through a quick search.

[@jjjackson5183]

Congress needs to restrain big corporations from being involved in the consumer housing market.

[@CBBC435]

Ewww 🤢

[@4NaturesStory]

So tired of “investors” coming in, buying everything and hiking up prices. The American dream turned into a nightmare by greed.

[@15xgg80]

Sad thing is i just don't see this getting any better because this cuntry is run by the rich/corporations. The normal people are suffering with high rents and home prices while the rich/corporations are rolling in money from "real estate investments" AKA ripping off the lower and middle class

[@4NaturesStory]

@@15xgg80 100% correct. Baby boomer “investors” who are “smart” won’t have it as hard as us 35yr olds who make way more than they ever did.

[@johndong7524]

@@15xgg80 Welcome to capitalism. People vote for someone like Trump, a head of a giant corporation, and then complain about corporations taking over.

[@kingboy280]

@@johndong7524 Biden won did he not? Where's the hope and change? I'm not a trumper but you need to stfu.

[@94champs]

@@johndong7524 No you're talking about CRONY capitalism, not capitalism. And Biden is 10 times worse than Trump.

[@DanBelsky_Health_Money_Love]

Thank you for all your great advice. I think this year is going to be an excellent year to make money with our investing club. Your advice is so appreciated and also right to the point I think like you said, some big city are gonna appreciate and some others you have to stay away from them, but the inventory it’s kind of low in certain cities and people need to rentand to have shelter. Thank you again and have a great holidays everyone.🎉

[@Blur125]

I found this video to be spot on…we sold high in 2021 but ultimately had to buy high this year. Kids, schools, etc. Had to do what’s best for our family, but you just can’t time the market with a family easily.

[@JerryPinkas]

You made the right move because it was your time and your family. Thanks for sharing your story with others here on the channel and I’ll see you in the next video.

[@gregharbin3531]

In Tennessee, for the last few years we are seeing an influx of people fleeing states like California and New York that are flush with cash from the sale of the overpriced property in those areas. With that cash, they are bidding up the price of property beyond the means of most locals and normal local incomes, causing an additional level of inflation and pricing an increasing number of native state citizens out of the housing market. And, as you said, those with with the very low interest rates are only rarely selling property. Add to that, the people, investors and organizations that "Flip" properties buy almost everything that would be considered "affordable" on which to work their magic to remove that portion of the market from the potential budget range of many.

[@JerryPinkas]

Thanks for sharing your story about what’s happening in the real estate market in Tennessee. And thank you for taking the time to watch this video. I’ll see you in the next one

[@martinabernathy205]

I live across the line in Mississippi. Same problem here. And as for new homes being built? They only build houses way too large for the average person to afford. There are tons of new homes being built that are 3000, 4000, 5000 square feet and more. The few used homes that could be considered affordable, are then bought by the giant corporate rental organizations who have also driven rent to stratospheric rates. This can't continue.

[@slackjaw4270]

Carpet bagging Yankees! Hoist the Bonnie blue.

[@utistudent099]

This is what we have been dealing with here in Phoenix Metro for the past 35 years. PHX is the epicenter of Pop Goes The Bubble. A total housing bubble mecca.

[@mistert1097]

Milk the lefties

[@candacejacallen4813]

There’s no inventory because corporate investors have bought everything up

[@JerryPinkas]

This is so true! Thank you so much for sharing your story and thanks so much for commenting. See you in the next video.

[@Bekka241]

Naw. No one is selling because there JUST was a housing boom. Those buyers are going to hold onto those homes for awhile. Then, we'll see the crash.

[@ShutterContinent]

I went to two open houses recently, 200k and 250k. Both needed 30-50k worth of work, neither had hewt or ac, likely needed roofs replaced, rotted floors, plumbing issues, etc. Both houses received a dozen bids over asking and many of those werr cash bids. PNW

[@marktaro]

Nice info and good to see people talking about this. Here in Buffalo, the median household income is is 42k, but new development homes are starting at 450k. I've seen unupgraded homes from the 50's around 250k, and many early 1900's homes are around 150k. When I was househunting in 2021, those 150k homes where consistantly being bid up by an additional 20k at times. There are houses well under the 150k area, but those are largely 'rammed out', terrible condition, and major foundation problems that might not be ideal or realistic for a first time homebuyer to come in and solve. Many loans require contractor renovations before you can officially move in. That is to say nothing of rents which have also skyrocketed in a city with largely mediocre wages.

[@JerryPinkas]

Glad you enjoyed this helpful video and I truly appreciate you taking the time to watch it and comment here on this channel and I’ll see you in the next one

[@ibodies5341]

I watch a ton of financial/real-estate videos in my free time and I have to say... it's a breath of fresh air having someone get straight to the point and drive home their argument. Thank you for that

[@JerryPinkas]

I truly appreciate you saying, so! You made my day. Thank you so much for taking the time to watch and comment here. I’ll see you in the next video.

[@littleme3597]

@@JerryPinkas I agree. I used to be a realtor. Good video.

[@javiertorres9114]

There are too many children littles these days.

[@jamesalvarado3961]

​@@JerryPinkasyes, this is very honest..no 💩. Thanks for this

[@pete9688]

@@javiertorres9114and they’re not American.

[@markmayes41]

The biggest factor Im seeing for homebuyers is affordability. People's income has not kept up with home prices. So at some point, home prices in various home markets will have to correct.

[@dannymccarty344]

Affordability? 30 trillion in national debt, is the elephant in the room. Over 50% combined taxes levied against us. Listening to this clown will have you chasing rabbit holes. The market has always contracted and expanded.

[@PrettyGoodLookin]

@@dannymccarty344 He's not a clown. You obviously don't understand what he's discussing.

[@dannymccarty344]

@@PrettyGoodLookin people have no money because the nation is in debt. He's a clown.

[@PrettyGoodLookin]

@@dannymccarty344 I rest my case.

[@MannyECG]

Income hasn't been keeping up with home prices for decades now, this is nothing new. And yet the market has had its ups/downs through these past few decades for different reasons. Therefore the correction you are talking about (income not keeping up with home prices) is not going to happen - at all!

[@LifeofPandK]

I purchase a home one month ago. My last video goes into detail how I saved a big chunk of money. I love your feedback and points! With that said, there are deals to be made. My rate is unheard (current market) 5.35%. Lender provided incentive. I checked out new builds and existing homes. New build were just as expensive and prices were going up every month. You add builder fees and you are priced out. There is almost no allocation available which contributes to those prices. I don't see prices crashing. My home based on estimates have appreciated 9% since I purchased it one month ago. It is insane and I feel like people that are waiting for the market to crash will be left on the sidelines for much longer period.

[@toriless]

Probably a full percent lower even with good credit. I am seeing 6.7% advertised, probably 6.5% with the proper excellent credit.

[@chucke756]

Where I live in the Midwest housing supply is low and prices seem to be holding up pretty well. As you said people aren’t going to sell and walk away from a low mortgage rate. Guess we’ll have to see what recession or worse does to prices.

[@brycehuff]

Great video! Here’s a summary of the points. #7 Boomers retiring and moving to better weather. #6 Mortgage holders locked into historically low rates, holding onto homes creates low supply. #5 Prices skyrocketed, affordability is keeping ppl out, building demand for when it drops. #4 Low average of new home construction over the past 3 years, supply 6.5 M homes short. #3 Months supply of inventory is still low. Supply is declining as demand grows from affordability especially in southern regions. #2 Prices super local, including insurance costs affect affordability. #1 With high inflation driving raw material cost higher drives prices for existing homes higher. History shows home prices increase a few years after inflation hits.

[@JerryPinkas]

So glad you enjoyed this helpful video. Truly appreciate you taking the time to watch. I’ll see you in the next one.

[@surfer880]

Don’t forget about the crazy high property taxes, and the home owners insurance the has jump as well that has kept us out. I could build our own home, but good lick finding good subs to complete the work on time. Then making sure all the supplies will show up and wont go up in price while building. It’s insane! Noting is balanced

[@Rodaportal]

Absolutely resonate with this. The housing market dynamics are indeed undergoing a significant transformation. The imbalance between soaring home prices and stagnant wages is a pressing concern. It's disheartening to witness the American dream being overshadowed by investor greed, making affordable housing seem like a distant reality. Moreover, the trend of multiple households cohabiting in one dwelling to navigate the exorbitant costs is indicative of how the landscape is shifting. What worries me is the sustainability of local economies in areas where wages are simply inadequate to match the soaring living costs. The future, especially in terms of housing, feels uncertain. Thanks for shedding light on these critical issues. 👏

[@cliffordamarantes4418]

I have been house shopping for 6mos in Northern California and southwestern Oregon. Lower cost housing has doubled in cost in the last 4 to 5 years. I have been waiting for that forecasted drop. You are right for the most part. The only places I have found per capita high inventory is in wooed areas that have high fire danger. Most likely either you pay high insurance premiums or that fire insurance is unavailable.

[@Ultrajamz]

I’m convinced a lot of buyers bought houses they should not have these past 3 years, and its waiting for a big employment issue drop before the housing crash happens. Edit: Not in the sense they had bad credit scores, but in the sense they don’t have enough savings to survive unemployment for 6 months.

[@VeganWitch111]

Only thing, so many young men have already fallen out of the work force, and not looking for work, so the ones that do work are more secure in their jobs because there is actually a shortage of labor......if you don't believe me about the young men that don't work, and don't want to.........look it up!.....have you heard of any major layoffs??

[@gaiustacitus4242]

There is another trend that will severely impact the housing market, and that is AI eliminating jobs. Years ago, Austin Goolsbee predicted the loss of 70 million jobs by 2030. It turns out that his prediction will turn out to be correct. What will be eliminated are higher wage jobs. Austin's prediction that new jobs would be created to replace those lost will also prove correct. The problem is that the new jobs will offer much lower wages.

[@luckypennybenny]

​@@VeganWitch111 For the record the vast majority of working age men not engaging are not millennials or gen z. You unemployment is among the lowest. Boomers have retired early and en masse following the pandemic. The youth has nothing to do with the labor shortage.

[@luckypennybenny]

More people bought homes with the most money down or outright in cash than ever before. The ratio of equity to value of a home is still the highest it's been in forever. The interest rates offered were so low the average payment was down even while values soared and literally no one who purchased between 2019-2021 feels like they will ever be able to sell the home they bought and afford one of equal quality. All doom and gloom around the real estate market is quite literally industry white papers that infect workers in the industry and they post "organic" content reinforcing these "studies". The banking and investment sectors have become addicted to single family home rents and they want the ability to crash the values and buy up the stock. It's a huge bummer but they don't control enough value to do it anymore. More equity is in the hands of the individual than ever.

[@gaiustacitus4242]

@@luckypennybenny These people are still upside down on the mortgages based on real value. The housing market in my area has more than doubled since the onset of COVID, due in large part to people being able to work remotely. These migrants from areas where housing prices have been historically very high have been subjected to price gouging. When their jobs are replaced by AI or lost due to companies mandating a return to the office many will be unable to find jobs with similar pay and the housing market will begin its inevitable collapse.

[@williamjohnson9815]

Most of the Crash KZbinrs are young, or live out west, or are realtors wanting more volume. You are right on target, even if the truth hurts. I live in Mt. Pleasant, SC inside I526.. While most of the single family houses Zillow below $1 million in my immediate area, there are very few up for sale for less than $1 million. Even new town homes (the 3 story type with garage at the bottom) are going for $600 to $700k . There is no softness in the market, because there is very little product on the market. If I were to move, it would be out of the country. But I am staying put at age 78. My mortgage rate is 0% (paid for).

[@hangguy209]

Most of them aren't educational. Every video they put up is the same, CRASH CRASH CRASH. No educational information on how to buy or sell despite a high market. They're in it for the clout.

[@info781]

@@hangguy209 You can't blame them for not wanting to get a real job, who wants to go to an office?

[@lukewarme9121]

Rising property taxes, home insurance, and the general inflation will kill us. I’m so disgusted with the crooked politicians that I’m done voting.

[@matthewsmith2362]

So let’s say just for shits and giggles you were 39 married to a 39 year old woman with a 8 year old girl, you sell you home and investment prop, sell everything you own and have 1.3 mil, that’s it tho no portfolio no 401k Where would you move?? I was raised in a high crime high poverty area and I can handle my own, my wife and daughter are accustomed to a very safe, old white people area as we have raised our daughter in Dunedin fl and there idea of crime here is a stolen bike or a golf cart driving out of the cart zone lol

[@Tanya401life]

New subscriber here! This video was super helpful, straight to the point, not difficult to follow and entertaining! Please continue w/ the same types of videos, and cover New England states like RI, MA, NH etc.. thanks!

[@dpp7057]

I see lots of new builds and I’m a part of the people building these new homes here in Michigan and it’s depressing to see the price tags being double or even triple the price I’d be able to afford in the foreseeable future

[@pgrut8880]

I am in illinois and living in my house for over 15 years. I am being taxed out of my home. Only reason I am planning on selling. Theft through taxation.

[@JerryPinkas]

I hear ya just had three people this week from Illinois moving to Myrtle Beach South Carolina. Something must be crazy in Illinois to make that many people in one week move. Thank you so much for sharing your story with others and thank you for taking the time to watch these videos here on this channel. See you in the next one.

[@utubewillyman]

Crook County. Among the highest property taxes in the nation, with little benefit provided back to the taxpayer.

[@ckm-mkc]

Could always become a pastor and claim your home is a religious place, thus tax exempt.... ;-)

[@chevyDboyMike]

@DonJrsCokeDealer-1212 you people that bring up politics without a reason have no clue of how this government works

[@utubewillyman]

@@chevyDboyMike Most of them are children who are angry that someone might take away their free stuff. Hence the fear of Republicans and adults in general.

[@gcrauwels941]

My wife and I had a lot in WNC near Asheville (high demand/low supply) and were going to build a modular home on it. Then the pandemic hit. Building prices went way up. We were kind of in a corner because our townhouse lease was coming to an end and they wanted to raise the rent by $700/month. By luck my wife's job allowed her to start working from home, (I'm mobile as well) so we started looking for a home in a more reasonable area in East Tennessee. Found a great house and sold the lot we had. Closed in July '20 at 3.25%. We consider ourselves lucky because a comparable home in Asheville area would be well over 100K more. Not only that, no more personal state income taxes. Very happy here.

[@JerryPinkas]

Cheers to your success. Thank you so much for sharing your story with others and thank you for watching this helpful video. I’m glad you enjoyed it. I’ll see you in the next one.

[@cathiwim]

Great move, neighbor!

[@rica7611]

Hello! I've noticed in the Abq area, that price per Sq ft on new builds are not that much different for older well kept homes....seems odd..I've subscribed 😀

[@MickPsyphon]

There are plenty of homes being built in my area (Pickering, Ontario), but the cheapest new homes are going for $800K+ for 1300 sq/ft townhomes. It's insane! Anyone who doesn't already have a house can't afford one, especially if they have a new family.

[@waldo-ot6ul]

Because they want to keep you renting or keep you in debt forever

[@MickPsyphon]

@@waldo-ot6ul It's more insidious than that! They want to make it so expensive in most areas of the country, that people will be forced to move into what the government calls _"15 Minute Cities,"_ where they expect everyone to have everything within 15 minutes of where they live. _"You'll never have to travel farther than 15 minutes from your home."_ That way, they'll be able to control the population much easier. Meanwhile, filthy rich politicians and their wealthy benefactors will own cast tracts of land, where the rest of us poor slobs can't bother them; and they never have to see us.

[@zlonewolf]

Get a contract to build your home. Cheaper and better.

[@rockn997]

Same thing happened in my area of Westchester Pennsylvania, look it up. In the past three years, the price seem like they almost doubled. I was looking at a home 55+ community, had a three bedroom two bath nothing to it just a box inside with no land hardly and they won almost $900,000, who would pay that you would have to be insane to pay thatwho has that money to buy all these homes for $1 million and they’re nothing

[@stephaniewilson222]

Thank you for explaining this in a way that is easy to understand and makes sense. My husband and I had hoped to change Home’s before he retired but with a 2.99% interest rate on our current home there is no way we’re going to move because between the prices being so high and the interest rate increases we wouldn’t be able to get anything better than what we have, which isn’t bad at all. So we’re going to stay here and fix up this house and make it our forever home. I just feel bad for the young kids are really having a hard time renting or buying a house right now.

[@juanito714ok]

But, isn't it the case that the price of your house has also increased so, selling/buying could be a "wash." If you had no mortgage, the interest rate would be irrelevant as long as you didn't buy something more expensive.

[@welsthe3rd]

​@@juanito714okAgree, perfect time to cash out while demand and price is high, and buy a house without a mortgage if you're retiring

[@thebastardgift]

So often in news media reports they give a one maybe two reasons answer to this question when common sense demands there had to be more reasons than just two. This video was cohesive with roots. 🏡

[@thebastardgift]

@@welsthe3rd, I agree too.

[@BONZITORONTO]

If you could be patient and hold your pants tight for a while, you will soon witness a wave of foreclosures coming

[@scottguitar8168]

Me and the wife took the plunge this year to buy a new house. It actually took us months of looking, not only to find a house acceptable to us but where our offer actually got accepted. Of course the next fear was hoping to find a buyer for our current house but that fear only lasted a few weeks and we now have a buyer. I can't believe we finally found our new house within our budget. The problem we had over those months of looking is that after the first few weeks of looking at the inventory already on the market, new houses only trickled in every week or so. We were also looking for a house with more land which made the search even harder and let us know that others were looking for the same thing.

[@JerryPinkas]

Thanks for sharing your story about your househunting and associated problems. Sounds like you finally got a good one. Thank you so much for sharing your story with others and thank you for watching this helpful video. I’ll see you in the next video.

[@surfrescue3232]

My wife and I . (Sorry I don’t know why I do this ).

[@scottguitar8168]

@@surfrescue3232 I sort of knew that but thanks for the correction.

[@heminole4life849]

In my area in Florida they are building about 8 subdivisions most on .4 acre or less lots and about 150 homes each for 350k-500k. Just 3 years ago those same size homes were 200k-300k.

[@josegallegosdds]

Excellent information. Here in Richmond VA and OBX NC, prices keep climbing. Lots of apartment buildings going up. Some new homes, resales are very low.

[@tstahlfsu]

Statesboro, GA here. With the new Hyundai plant being built between here and Savannah, the port growing in size, and the massive influx of people expected, home prices for a new 3 / 2 have skyrocketed to $300/$350k in a traditionally rural / low income agricultural area. I was able to purchase a new construction 4 / 2 in 2011 for $110k.. it's insane here and only getting worse.

[@bradroth7005]

Good info... I rented for 15 yrs, rent price went way up, but was to cheap not to milk it, in 2021 bought a "cheap" budget friendly 2 bedroom ranch in St Louis suburbs for 185k, got locked in low low rate, now there NO homes in my neighborhood for sale out of maybe 300 homes in about a 8 block radius. Its crazy... I have never seen anything like it. They are building new homes simliar sized to mine, just more modern, starting at 399k up to 500 to 600k, way out of my price range... And they had people in tents camping overnight , waiting to sign a contract to build one of these homes. This is crazy scary.... my delorean to go back 2019 ???

[@MoPerspective]

Take me with you pleaseeeee! 🤦🏾‍♀️🥴

[@JerryPinkas]

Sounds like you are winning with your purchase. I hear what you’re saying about having a time machine and going back to 2019, because oh wow it would be amazing right? Thanks for taking the time to watch and comment. See you in the next video.

[@JerryPinkas]

I hear ya! Wouldn’t it be great thanks for watching in Common

[@emiliosemporium3977]

Here in Charlotte, what used to be an open field behind my work is now a subdivision with 3 bedroom homes selling for $450,000. My home has doubled in price and continues to go up.

[@florida57]

St. Cloud, FL has become so expensive that I don't know how a new home buyer can afford to buy. Current homes new built are close to 400k. In 2017 it was around low 200k.

[@rogerevans5040]

Montana experienced a huge influx of out of state cash buyers in 2020 - 2022. This drove our prices to nearly double. Our median home prices, in some cities, is $456k. Our property taxes almost double as well, based on valuations. This combined with a tourist based job market has made homes out reach for a lot of folks. Putting payments around $4k a month. We are now seeing tent cities and that is a big indicator of the housing market, rental market is sitting around $2400 a month for a 2 bd, 2 bath.

[@nesq4104]

2400 in Montana omg

[@chisanainoris5364]

Very similar situation in parts of Florida.

[@morandasavich9563]

Same in Idaho. My home town decided to become Shanghai in ten years, including all the noise, traffic, and littering of trash all over the place. Houses and apartments are being built in every nook and cranny.

[@cinthial7220]

In idaho too sucks

[@hlb0111]

Wow, this is eye-opening. I didn't know this about Montana -or Idaho.

[@Fenris1Dark]

You make good points. An important thing to keep in mind though, is housing correction is about a 10 year slope. Builders are the real price setters. Private owners hem, haw, and hesitate forever in frustration that they missed the boat on selling their $200k home for $800k. Here in Austin, there are tons of empty homes sitting on the market, which make tiny 5k price drops every few months. Still crickets.

[@diatonicdelirium1743]

Very good point, here in the Netherlands we had a decline in prices starting from 2009 to 2013, but only the train wrecks were actually cheaper. We bought our house (excellent condition) close to the 'minimum' and didn't get a serious discount compared to the peak. That said, competition was much weaker giving us some negotiation leverage, and at least prices hadn't increased for a couple of years. We saw that one house we liked, back in 2013, was still on the market this year -- they over-asked to begin with and simply increased asking price ahead of the curve on the rising slope!

[@kentwood9821]

AirBNB also vacuumed up a lot of small properties during Covid, and with the high interest rates, those owners who bought on credit are losing money. I'm seeing a lot of obvious airbnb investment homes on the market now and I think that's likely to grow. The inventory is there in terms of empty, sellable houses, it just takes time for sellers to come to terms with the fact that the free-for-all is coming to a close.

[@762foryou]

@@kentwood9821 Very well stated. Sellers are going to wake up to the fact that the fixer they bought for $200k in 2018 isn't going to fetch $600k like their buddy got in 2021. And right now, I'm just watching sellers chase the market down (dropping $5k here or there) while most houses that are moving were priced accordingly from the beginning.

[@gavel8888]

Who wants to move to Austin. It is next LA or San Fransisco, which people are leaving. Too liberal = too trashy nowadays and I am an ex liberal. That is why I left NYC and bought a huge property in Ohio.

[@JS-mw3ry]

Not in Columbus Ohio, we have a housing shortage here

[@user-qc3xz8lu3x]

Thank you for the information. I am in Denver. This year was has been a bad year for me due to health issues. I am getting back to work so looking to see what is going on. Thank you

[@rebekahwarriorspirit8110]

Yes the affordability is really what's hurting, many homes in my area are 600 and up! It's insane with the rates and taxes, many are moving away because of this but makes it harder to buy.

[@vancouverlife1040]

Wow your area has so cheap houses. My area I can't even find any detached home under 1.2 mil dollars.

[@davidbradford7105]

I think part of the supply issue, at least in my area, is larger than needed homes, with all these "included" extras etc. I was at a homesite on Saturday and asked if I do away with the granite everywhere, brass fixtures etc to cut costs. I don't need all of that. The answer was no. A different home sight the agent said sure, we can cut that out, dropped price by $100k taking out all these extras. Builder came back and said no as that would impact overall home values. I don't need a 800sq ft pantry with 700 sqft master closet, $40k in granite counters, $90k for a glass wine cellar and 3.5 garage with 1200 sqft entertainment room over the garage sporting a built in wet bar on top of everything else. I just need a kitchen, rooms for my kids and a place for my desk in my bedroom. A basic home for 1st time home buyer just simply doesn't exist anymore and hasn't for at least a decade.

[@AA-iy4gm]

Yeah it looks like the cosmetic extras bring them a lot of money. It's a shame...overpriced, oversized, flashy cookie cutter new houses and transactional, greedy building companies. A friend had one built and even with visiting their home during the building process they still witnessed them cutting corners, pushing extras on them etc

[@MsOrangekoolaid]

Yes!! Agreed

[@denniscartter6029]

A comment please not a story

[@CheapVanLiving]

Those are the only type of homes they can profit from when factoring in permits and government fees just to break ground in many areas.

[@SteveBoyer10]

Plenty of homes like that in Utah. Problem is they’re still over $500k

[@thomasmorrison3279]

There are many problems. The main problem is that wages have not kept up with inflation. A second problem is that the cost of land, permitting, materials and construction labor does not allow for builders to build "affordable housing". New homes in my area of VA are over 1 million dollars. But, an important factor that nobody mentions is that buyers between 20 and 45 watch too much HGTV and get unrealistic goals as to what they can buy as a first time buyer. They want everything perfect and are unwilling to buy a fixer upper and renovate over time. I bought a fixer upper in 2008 for $530k. I fixed it over 10 years for about $100k. Now it is about 1 million to 1.1 million. People are unwilling to put in sweat equity. Instead they pick the pretty fully renovated home and get in a bidding war. If you are young, buy a condo in a good area. Live there for 5 years, build equity, sell and upgrade to a bigger place. Do not expect to buy a 4 bedroom single family home in a good school district as a first time buyer. Be realistic. I grew up with 5 people in my home including two sisters, myself and my parents. We were raised in a 1400 square foot house with unfinished basement. We never felt cramped or needing anything. Somehow, the public has been led to believe they need a 3000 square foot house for 3 or 4 people with 5 bedrooms, a garage a finished basement, etc. My parents bought good used cars and my dad repaired the house and cars as much as he could to save money.

[@evanthompson6918]

I think the high cost of construction labor and materials are because wages are too low and have not kept up with inflation.

[@info781]

There is a comment here that their recent college graduates can not afford a brand new house, lol. I lived with 1 or 2 room-mates in rented places all though my 20's , decades later I own a couple of modest houses , but make no mistake, there are many boomer parents who are loaded and will help with the down payments on the 3000 sq ft house for the recent grad.

[@WordMadeFlesh777]

Your 100% right about the expectations. Kids want and think it’s normal to have what their parents have right out the gate. So true..

[@richardt1954]

You are absolutely right my man.

[@janshuster1426]

I grew up in 1000sf 3 br 1 be with 5 people.😊

[@AinsleyVarvel]

Thanks for the video, rings true to what I'm seeing in Southern AZ. Not enough homes. Things are selling for more than they should but still tons of demand. Going to be in a really weird place down the road if something doesn't change.

[@kevin4209]

Here in South Florida, I'm finally seeing prices starting to peak and trickle down. Many new construction developments that got delayed because of the Pandemic shortages are now nearing completion. The issues with home owners insurance is becoming a hot topic. If we get hit by a powerful hurricane this year, watch out!

[@JerryPinkas]

Thanks for sharing your story about what’s going on in South Florida. Truly appreciate you taking the time to watch this video and I’ll see you in the next one.

[@petdoctor3]

Florida home insurance rates sky rocketing, and then add the required flood insurance which has tripled this year alone.

[@lawyer1165]

Supply is a bottleneck, but the owners who aren’t selling their primary residence also aren’t in the market for a new primary residence. The federal government and some state governments are trying to keep the housing bubble inflated by encouraging more people to buy an overpriced house. Some of these governments offer down payment assistance. The federal government is doing everything possible to prevent foreclosures. For example, some homeowners who can’t pay their 30-year mortgage can get a 40-mortgage (at zero interest) on a portion of their existing mortgage. If a homeowner can’t pay the mortgage, does the government really think the homeowner can afford to maintain the house? Do the politicians really want the country’s housing stock to become as dilapidated as our bridges? When the country has its next recession, AirBnb rental income will go down, and some owners will sell their rental houses and look for the next easy route to wealth accumulation.

[@dirgesinthedark5637]

UN AGENDA 21 2030 USA is Over. Welcome to World Govt divided into 10 regions

[@ld4122]

Your absolutely right. AirB&Bs are already down by approx27%.

[@jimb7816]

Dude is living in lala land!! Housing market crashed in January!!

[@isaacbrown1106]

​@jimb7816 not I'm my area, helping my brother buy in PA. The last house we offered 30k over asking with no inspections. We were outbid with an all cash offer.

[@BONZITORONTO]

Don't trust a bald guy who makes a fortune by selling you real estate.

[@mitchellcutler2888]

This is happening everywhere. I live in Toronto and it is a complete mess.

[@mbailey12341]

We’re currently a million houses short in the U.S. Around 60% of the sales are cash deals so the rates aren’t a factor on those. Rent is through the roof in Iowa.

[@JerryPinkas]

Thanks for sharing your story on what’s going on in the real estate market in Iowa I agree with you. Thanks for taking the time to watch this video. See you in the next one.

[@user-ot3or7lq2i]

Im curious, You talked about inventory being low. I looked up inventory on another tab, but I just want to confirm what I looked up is correct. Can you explain what inventory is and how do we produce more inventory?

[@nimbusmeter]

In my area, which is thriving (Bella Vista, AR), the inventory of houses has increased 400% in the last year, and price reductions have increased from zero to over 20%. Challenging to predict the exact timing of housing market booms and busts. Housing takes on average 5-6 years to decline. Housing is a cyclical market with a 18 year boom and bust pattern. The current abnormal house prices has little to do with inventory, aging population, or 'real' demand. It was the government and the federal reserve 'printing money', sending stimulus checks, institutional buyers, individual buyers irrational exuberant after attending a Tony Robbins get rich from real estate seminar, people moving to rural areas because of COVID, remote work, mortgage loan forbearance, and rent moratorium. The federal reserve created an asset bubble by instituting a near zero discount interest rate, and putting $12T into the economy through QE and some help from government 'hand outs'. Stay diversified, watch history repeat itself, and never forget that black swans await.

[@indiasamara]

So what does this mean for the near future? Where are we in that 18 year cycle

[@JerryPinkas]

Thanks for sharing what’s going on in Bella Vista, Arkansas and thank you so much for watching this video. I’ll see you in the next one.

[@eric3434]

Op's right.

[@eric3434]

@@indiasamara It depends a lot on what the fed does. And if the US economy continues to remain favorable to oversea investors. If inflation surges, or the fed stims the banks again, there will be a higher top. But, currently, its looking like we're 3 weeks past the top. These things play out over years - i wouldn't expect a 2008 style flash crash unless the banking system runs into more liquidity issues. I'd think we'd see more of a gradual decay over years. Once it starts its slide, probably go on for 5 to 12 years somewhere. It's tough to predict the future, if i could i'd be a billionaire already. The 18-year property cycle is described as 4 years down, 14 years up. We're around year 16 going on 17. While there is an 18 year pattern, the years vary a good bit from tops to bottoms and bottoms to tops.

[@glove8888]

I make a pretty decent living. The average home in my ares is 800k. No way even with what I make can I buy a house unless it's a dump and people making alot more than me are having the same issue

[@michaelbauer6126]

We’ll, my wife and we’re considering selling our house and moving south. But with the increasing prices, very high demand, and low inventory, we’ve decided to just stay here in Pennsylvania with our paid off mortgage for the time being. Thank you for another educational video. Please keep up the great work!

[@JerryPinkas]

Truly appreciate you taking the time to watch these helpful videos and I’m so glad they are educational to you. Thanks for sharing your story. I think many people are thinking the same thing as you are. Considering I paid off house versus living in paradise. There is a cost, of course. Maybe a small second home? Or a vacation in the winter months?. See you in the next video.

[@Sonofawildanimal4241]

That sounds a good idea. The south just went through a huge boom. May not have been a bubble but you have time, wait and see.

[@ChimobiHD]

If you're looking to sell and move south I think you can find really nice houses in North Carolina that are worth value for money. I live in Raleigh and it's amazing, do some research about it. Good luck for the future!

[@kaydublin5164]

Same , we are in PA also.

[@hannahreese1629]

​@@ChimobiHDwe are full here. Stay away!!! Sick of the traffic you are causing. Gonna look like New York before long!!!

[@kevinmccann2228]

Here on the East side of Chandler AZ the new builds across the canal aren’t selling for 550k and 600k. They are building another neighborhood next to the one they just built. 202 is directly South of the new divisions

[@djdanutica]

Sacramento Ca, we are seeing a lot of bids on homes again like 2021, 6-7 buyers putting offers in over asking. Inventory is low at the affordability range.

[@edwardmackey747]

In the last 3 years we've seen massive numbers of people moving out of certain states and into states like you mentioned (Florida, Texas, Tennessee, etc. - no income tax states). The rate at which people are migrating seems to be slowing down considerably over the last 3-6 months. My anecdotal belief is that the vast majority of people that wanted to escape their state to move to Florida, Texas, Tennessee, etc. have already done so. This drove up pricing on homes (supply/demand) over the last 2-3 years, sometimes as much as 100%+ increase in value. Now that the migration has slowed, it's going to be hard to sustain those sharply elevated prices. Local wages in these Southern states don't support the higher home prices, so many life long locals are either staying in their current home (not upgrading to a larger home), or just biting the bullet and renting for the time being. In order for a local economy to be sustainable, the wages in that local community have to be on par with the cost of living in that community, and right now that's severely lacking in many of those Southern states mentioned above. Something will have to change in a big way. Either wages in those areas will have to increase 30%-50% (or more) in order for the working class to be able to afford to live in those areas, or housing prices will have to drop. If any one particular area becomes overly saturated with cash rich retirees that keep the living costs in that area sky high, then businesses will either have to increase their prices to be able to pay their workers enough to live in that area, or the businesses will close due to lack of employees. Right now where I live, finding employees is like finding a unicorn based on current wage structures vs. the huge cost of living (housing) increases we've seen in the last 3 years. Someone making $80K per year still can't effectively afford a modest 3 bedroom home that costs $500,000, with a P&I payment of $2800 per month, insurance of $450 per month, property taxes of $400 per month, and HOA of $350 per month. That's $4000 per month just for their home, not including everything else people need to live. It's making it nearly impossible for 20-somethings/30-somethings middle-class families to buy a home. Now in Florida most people just saw a 25%-40% increase in their car insurance rates... Something has to give, it's just a question of what and when. Thanks for your channel, I learn a lot from you!

[@JerryPinkas]

So glad you’re enjoying his helpful videos here on this channel and I truly appreciate you taking the time to share your story here with others. I’ll see you in the next video.

[@typeltier7521]

I think you did a very good job of articulating your experience. I totally agree with you (as I live in southeast Texas). I’m seeing a similar situation in my local area that’s supported by refineries/chemical plants and construction companies, wages haven’t gone up at all in the past 7 years I’ve been working in the area as a electrician. Housing prices are still too absurd along with the interest rates. Maybe something worth looking into is the auto motive industry as well. I would almost say the “bubble” is leaning more to the lack of sales for new vehicles and the increased prices for old ones. The amount of repos is increasing steadily and car lots can’t sell these repo’d vehicles. Good luck 🤙🏻

[@jameshardin4895]

and some Americans leave the USA... and some people that moved to the USA, are going back to their Country's... Shhhh, can't say that... also, people are moving to a Red or Blue State, for reason you know...

[@saltwaterinmyveins]

Excactly! My beautiful small town has been invaded!

[@user-go2st5fi9w]

Awesome posts Everyone !

[@sparkey4293]

As a small builder in S. CA I have seen prices fluctuate over the years, I can tell you it’s much more expensive to get through planning and permits than ever and more red tape as well. These added costs are going to be included in the sale price. Because housing is not affordable here to average citizens the state has passed a law requiring cities to allow homeowners to put a second small home on their property there called Additional Dwelling Units or ADU

[@dynamicphotography_]

Same, I build in Oregon. Local & State governments keep piling on more and more unnecessary costs during permitting, fees, and taxes. Then they ask us why none of us build affordable housing anymore. They are a major part of the problem.

[@higherspirit1]

Hi, can you reach out to me? I am planning an ADU in Fullerton, CA and will need construction soon.

[@sparkey4293]

@@higherspirit1 Hi I can"t take on any new projects at this time but thanks.

[@davidorth396]

Yes CA (any other blue states) have regulations on top of regulations for the builder which he needs to pass on to make his money. Many reg's are ridiculous and unnecessary, but the bureaucrats don't care. It lets them say that they are fighting for the "little guy" while making the house more expensive for the "little guy"! Insane

[@Ryan-rp1es]

@@dynamicphotography_I paid 80k in permits for West Linn 🤮

[@brandoncrimmins6296]

I don’t know man… I’m in rural northern Wisconsin and our county tax sales are FLOODED with foreclosures compared to even a year ago. Just down the street from me. A $450k house ended up short sales for under $200k. These are both things that happened quietly in 06-07 before the giant crash in 08. However I do agree with you that some circumstances are different this time around. Primarily adjustable rate mortgages have basically been eliminated and so now if you bought your house 3-4 years ago and have a good rate. You have no incentive to sell or let the bank take it back. Because your payment isn’t going up. The real problem will come when people start losing their jobs to the absolutely abhorrent economy. Then foreclosures will sadly kick into overdrive and then the crash begins…

[@danwombacher2747]

Great video. I’ve lived here in what was a small farm town in Oregon for 40 years. 20,000 is now 40,000 over twice is big. My house has been going up and down in value in the last two years. I’ve noticed very little houses are being built here but tons and tons of apartments are being built. Makes me wonder what this town will be like in 10 years.

[@xo.ellie.vibezzz8180]

Great video Jerry! Spot on. People waiting for a crash like before are realizing that isn’t gonna happen. Like you said, the people are invested in their homes and they are not walking away. Also, the demand is still high for housing. Most important point you made was about housing markets being regional/local; all housing markets are not the same, however, once people realize that, they will stop waiting and buy in those affordable markets before they eventually rise. The key is knowing where to buy…..before it’s too late. Housing will only go one way…..up! It will cycle but it will always finish up. The info about the 70’s recession and hosing prices was new information for me. Thanks again! Great job educating the public.

[@JerryPinkas]

You are welcome. I truly appreciate you taking the time to watch and comment here on this channel and I’ll see you in the next video.

[@robgibson8640]

Demand probably not as high as you think. Issue is supply not high enough due to the stalemate right now.

[@rday7573]

​@robgibson8640 Exactly correct...a lot of people miss that. This video says so but people missed it.

[@Frank15032000]

Here in suburban Houston Texas prices rose $100,000 - $200,000 after 2020 and have not fallen ever since. New home builds are priced similar. A large home you could get four years ago for the same price is nonexistent around my area and people are still buying these houses like hotcakes. Taxes are rising along with insurance rates.

[@JerryPinkas]

Thanks for sharing your story about what it’s like in the real estate market in Houston Texas. You’re right the taxes are super high and going higher. Many have been telling me.. Thanks so much for watching. I’ll see you in the next video.

[@carlc5748]

Great succinct analysis! The fact that with some minor changes you could easily double for Clint Eastwood, helps! "Go ahead make my (housing) day". "Marvelous"', have to subscribe!

[@weekendatbernies2265]

Great break down, Jerry. Also, love how you frame your head in the middle of various trees. I especially liked the Palm hair Do 😂😂

[@josephfitzgeraldnsw5794]

Well, I think it’s crazy is the fact that they’re taking $100,000 for a trailer home

[@JerryPinkas]

Thanks for sharing your story and thank you so much for taking the time to watch this video. See you in the next one.

[@Ghiycbjhgvvnk]

My ex sold his 25 year old doublewide on foundation for 178k Hickory NC last year…

[@barbaramaitland9156]

Thank you for your excellent videos and information. I live in Savannah Georgia and the prices of homes has tripled and that’s existing homes and the new builds are ridiculous. What’s really going on is the big corporations are buying up land building more apartments which is what I think they want in the end. The ares which we’re considered rural and affordable are no longer and the pay in the area hasn’t really changed. Savannah was once affordable but no longer and I see it turning into another Florida. The homes being built are so expensive like some are priced all the way up to $500,000 and higher in and around Savannah Georgia. The property taxes and homeowner insurance has gone up as well which sounds like pricing folks out of their homes too.

[@jxschw]

I'm hoping those big corporations screw themselves over by pricing youngsters out of the market. I want the Blackrocks of the world to suffer financial hardship so that young people can afford a home once again.

[@cyndiipanda]

500k? I wish I could get a new construction for 500K in my town!!! 😢

[@mvp019]

@@jxschw Just remember, the US government has 3 branches to provide a system of checks and balances: Blackrock, Raytheon, and Big Pharma.

[@lowell5561]

That's the plan. To force us all into 15 minute cities. I thought this was crazy talk, for a long time. But now I see how they will do it. Housing, and insurance price gouging. Home insurance doubled in 2 year. I pay $800 a month for crapy health insurance. If you can't pay your hospital bill. They do a forced sale to recover the owed money. On, and on it goes.

[@randymillhouse791]

Florida became California in 2022, Georgia will follow suit. My plan is to retire in South America, something many more Americans are considering as well as doing.

[@Reverend-Rodger]

It's very similar here in the UK, although with a difference a 30 year fixed deal is a rare thing. You're more likely to be locked in for 2,3,5 or 10 years and a lot of these deals are maturing in the next 12-24 months.

[@taylerellis378]

Time to get a boat on the river

[@ESC9242]

Here is the Portland, Oregon area we have seen new listings, pending sales and closed sales all decrease... with our inventory increasing to 2.0. The average sale price comparaed to this time last year has decreased from $618,500 to $595,700 as well as the median home sale price from $550,000 to $530,000.

[@GeezerTuber]

Lots of deals in the Portland metro area. Unfortunately it is unattractive to many due to the high income tax(higher than CA even). I wanted to make W. Portland work but the math is so much better moving to WA state and saving thousands a year on income taxes. The home prices in OR need to drop substantially to make the math work. Also, Portland is a lawless drug den like many other W. Coast cities which doesn't help.

[@jasminepadgett3883]

I agree. The trend I’ve been seen is homes still listed “overpriced”, sitting on the market for a few months and sellers slowing reducing their prices to try and make a sale. This is because last year homes were selling overnight, well over asking price and with unbeatable interest rates. Now, interest rates have more than doubled but sellers have not adjusted their selling price accordingly. Homes are still being listed way too high but people can’t pay these due to the interest rates that have more than doubled. I’m from the MS Gulf Coast and the same homes have been sitting on the market for months now. I’ve been watching the asking price slowly fall month after month. Plus, between these interest rates and cost of wind and flood insurance, I don’t see how anyone can afford a home right now.

[@shojus]

Depends on what market you're in, cause EVERY home sells within a few days where I live in Michigan. My neighbor just sold his home in 24 hours with the sellers waiving inspections, and it sold for $330k. I bought my home for $190k in late 2020 and my home is similar to his. No way this can continue, but I certainly don't think there's gonna be a crash to make homes affordable.

[@longgowhereto]

You should do the vid and not this "expert". You are right!

[@ImAManMann]

Basically the same here in Central Texas... some things are moving but mostly only things that have rental potential. I've seen some houses drop by half their overpriced asking price and they are still too high.

[@kenbagwell8551]

You almost have to be a cash buyer in some areas.

[@info781]

Lots of people in the USA have money, you just never see them on the news.

[@geoffmcarthy7314]

So , 4 years ago building the same amount of houses we were good and now population is declining and all but we are NOW short houses ? What ? Nah man

[@paperclip6993]

Exactly, exactly....

[@johnlibonati7807]

Yep. None of these guys has a clue about accelerating excess mortality.

[@JerryPinkas]

Why do builders still build houses? Have home prices gone down 50% yet in your area. Thanks for taking the time to watch and comment. Truly appreciate you doing so.

[@JerryPinkas]

Thanks for watching and commenting

[@JerryPinkas]

Thanks for watching in commenting

[@nicolathonathan770]

This is a true real estate video. I hate those “real estate porns” about 2021 crash, 2022 crash, 2023 crash, now 2024 crash…..

[@ShalomUSA]

As I thought, it all comes down to supply and demand. In our area, homes prices are still increasing about 8%-10% year over year. They are staying on the market longer, and some are negotiated down maybe 10k. Very few spec homes are being built. Apartments and other rentals are being built like crazy. What happens if the economy completely crashes and the dollar tanks?

[@artt9252]

Whereabouts is this?

[@ShalomUSA]

@@artt9252 greater Atlanta area

[@markwilder2503]

In the late spring and early summer of 21' all the houses in my area shot up 150%-ish, some even more. Now there are houses that sold for 60 in 2010 and are now selling for 260. Houses that are falling down and have leaking roofs are selling for over 100. Everyone says there is a shortage but there are empty houses and houses for sell all over town. They are continually being put on the market then taken off without occupation, then put back on. The whole thing stinks of greed.

[@JohnD-JohnD]

Bought my first house in 2004 and watched the value get slashed just a few years later. This doesn't feel like the same situation as 2007/2008. Yes, I still own that house, it's currently a rental with a 3% mortgage on it. Another angle people aren't looking at is the cost to renovate homes. Nobody in their right mind is going to sink 100K into a home renovation to take a loss, and home renovations isn't getting any cheaper. In the market I'm in, we have seen an increase in values this year. The median value of a home in my area is about $275K, however, there are only 3 homes for sale under that amount and about 18 homes well over that amount on the market. Nobody with a cheaper home wants to sell, or they are unable to sell because buyers got priced out of the marker when the rates went up. (Hence, my old home is now a rental) I renovated the old house and tried to get it on the market while things were booming, but due to a contractor delay, we missed the boom by about a couple months and there was no way I was going to take a loss on the house after sinking 70K in renovations into it.

[@gavel8888]

i was recently priced $7000 to paint two rooms in the area with average income of 30K and average housing price of 200K. My house was pretty expensive for the area and it was 350K. However, I thought I would be able to renovate it for cheap given the prices in the area. This is not the case however. I estimated that it will cost me around 100-150K to renovate it the way i want. So i had to learn carpeting, plumbing, and painting and so on to save. And I am female by the way.

[@denniscartter6029]

Wow a comment please not a story my goodness

[@gavel8888]

@@denniscartter6029 do not read it then. Not everyone has impaired reading skills.

[@toriless]

Yeah, Amica said I should increase my insurance by another 20% due to increased replacement cost. It is still a lot cheap than it was at Liberty Mutual which had made no adjustments. When I switched I added the first 20% Amica said I needed another 20%.

[@brianmonaco4308]

Shreveport, La --seems like you can still get a reasonably priced house but still expensive for historical home values. Lot of building continues. New builds range depending on location but it is possible to purchase one for a reasonable price.

[@normal-rl9mr]

Your intel on real estate is spot on. So tell me why was the housing inventory over the last 5 years, so low compared to buyer's. There was not a sudden increase in population. And all those buyers were living somewhere, right? Could it be that super low interest rates drive the market because home owners can upgrade and pay less per month.

[@meesterbrown5676]

The worst aspect in my experience this year has been the price increase for aged properties that aren’t accounting for structural depreciation. They may “offer” a “rebate” in price for a needed roof, but that doesn’t help the buyer who had been bled dry by increases in rent. Desperate times.

[@JerryPinkas]

Thanks for taking the time to watch this video and a comment here on this channel. Thanks for sharing your story. I’ll see you in the next video.

[@kingboy280]

Where I live an absolute shithole is 500k. 10 Years ago that house was 110-120k. It's insane.

[@msromike123]

@@kingboy280 If something is wildly over priced you have two choices.

[@zlonewolf]

​@@msromike123there is a third choice. Get a home builder.

[@lenpolidori3568]

Banks will be in trouble because they still lend too much money to people they shouldn’t. Not because the people have bad credit but because the formula they use to determine what a person can afford to pay is way off. It’s just a matter of time before their homeowners insurance and taxes increase to put them in the red and then the foreclosures will get out of control again!

[@gavel8888]

Nope. You are wrong. Bank called my family and work to loan money to me in 2021. I have 25 years of impeccable credit history, high income, full-time job and I had a hard time getting mortgage. It was very hard to get mortgage in 2020-2022. They wanted you to be perfect.

[@CastleKing13]

The formula is not new. It’s designed to make you house poor and it’s your responsibility to not let that happen.

[@palpinter4204]

Banks never be in trouble. The government will bail them out as usual , and we pay for it with extra taxes.

[@HandyAndy999]

Everyone has good points, but it all comes back to basic supply n demand laws of economics. Some contributing factors are: over 1/2 of mortgages sitting on historical low rate, lots of cash flowing, shortages of housing,, unable to solve the housing shortage in near future, lots of institional $ buying and lots of foreign $ buyers scooping up disguise as a business investor.

[@CleveIndians]

​@@palpinter4204facts!! 2008 all over again is coming

[@73dustpan]

I was lucky enough to get a nice big house in 2007. The odds were against me but having my buddies as roommates for a few years help me get passed that. Still have the house to this day.

[@ccooper2015]

As a multi home owner I see a bigger problem. All 3 of my buildings in nys have gone threw the roof tax wise.1 home was 120k before pandemic.2 years in nys revalue it at 400k and raided taxes by 50%. Another we bought 2 years ago as a no running water un rentable fixer upper for 40k 3 months after closing town re assesses it for 200k and taxed it based on that.apraiser we paid for still says it's worth 180k as un rentable by health and human services.had tennents skate on huge debt to us. Out of state.sure we could take em to court if we could afford to pay private investigators to find them and drag them back in state for court.just to have a Marshall serve papers cost 450 bucks a pop yo serve my ex for child court.5 times she didn't comply. Costly to get custody of my child after cps removed him from her.

[@chrisanthony7552]

The American dream(nightmare?).

[@diplomat696yt4]

Not sure about all 7 points but 100% agree with most of what you said here. The market is in a weird spot because it feels very unaffordable for properties that just are not the greatest or need work. Just like with interest rates, the psychological factor definitely has an impact and seems like it will continue to do so for a while longer.

[@RS-tz2zn]

I think the biggest issue is that various factors that caused the shortage have yet to unwind. Namely, Airbnb and a large increase in short term rental properties, as well as second homes. Many people bought. if you look at the ratio of dwelling units to household’s per the census data, it isn’t really out of whack at all.

[@Joeainthere73]

I'm on vacation in Michigan. I've never seen so many people out vacationing and spending money. All the Airbnbs were booked. All hotels were booked. Every place is full. Every attraction is packed with people. Lines to get into the state park was a half mile long and the parking lot was already full.

[@RS-tz2zn]

@@Joeainthere73 Yes, unfortunately, we will need a economic slowdown (i.e. higher unemployment rate) before we will see a significant drop in housing prices.

[@michaelsyufy7733]

Half price on every home in nation? Thank Biden for skyrocketing boxes✌️

[@Sonofawildanimal4241]

@@Joeainthere73 Secret spot

[@dacceto]

It would be nice to consider a hypothetical situation where a lot of empty offices could be transformed into residential units

[@kevinjohnson8220]

I think that's the next stage --the repurposing of commercial real estate. It's happened before

[@peternahkala1259]

I always thought about that and wondered why more spaces weren't converted

[@RandysRides]

We have so many boarded up buildings that are too expensive to rent, or have gone out of business. BUT... we have homeless and a housing shortage ?? Our gov doesn't listen or give a shit. They care about money, not people.

[@lgblowz2794]

@joshdeason9501 soil contamination maybe?

[@mikethedesertrat]

People always say that but it's not that easy or cheap. It can be easily cost 80% of what it would cost to start from scratch. Infrastructure, electrical, plumbing, engineering, etc.

[@aimeeprattaim4mortgages316]

Great content, thanks for sharing! I'm fortunate to live in an area in southern California where there is new construction (Santa Clarita). Even still, it will take years for supply to level with the demand and don't even let me mention affordability (these new homes are $1,000,000 and up.

[@toriless]

New homes are just under $1.3 million here. Snohomish County. WA

[@brockdomain8509]

in boise idaho prices leveled out from the highs but there is no "crash" in sight. also we have super low inventory

[@jenniferthomas394]

you mentioned Buffalo, NY and I agree! We have been lucky enough to buy a new home when mortgage rates were low at 2.99% back in 2021 but if we bought our same home today, we would not be able to afford it. We bought it for $359,000 now it's worth over $500,000 and with the high interest rates, it would be too expensive.

[@JerryPinkas]

Oh wow! Thanks for sharing your story with others so they know what’s really going on in the marketplace. Really appreciate you taking the time to watch and comment here. See you in the next video.

[@JAYY_JAYY]

Almost identical situation I purchased in Feb 21’ @ 2.99 for 365k And now according to Zillow it’s around 475k All in mortgage, tax , insurance it’s $ 1450 per month in California

[@lbottroff]

Excellent video! My area is out of control, nothing under 600000, something comes up and it’s gone. I’m about 30 minutes out of Seattle.

[@joannat1898]

Same where I am in Vermont. “Normal” homes are going for over a million dollars.

[@Tristan-isolde]

I sold my house in 2017 for $144,000. That house is now back on the market for $329,900

[@jonbetlejewski7138]

I currently live in Turks and Caicos islands. Our market is going crazy. From spring time to now prices have gone up 10%. It's nuts. I am selling and moving to Asheville North Carolina and building a house.

[@joec1545]

Great video!! I know our wonderful Fed is trying to slow economic growth but they have failed miserably. In Florida, restaurants are full and massively overpriced, traffic is thick, and building is booming. However, with homes 2 to 3 times more expensive than they were in 2020, something has to give. My kids are going to be graduating college in the next year and will not be able to afford a home with their expected income. I was born and raised in Florida but it has become completely unaffordable and ridiculous.

[@MikeRobot]

This is why the rich people are building apartment complexes like crazy. Homes are for rich people now. Apartments are for middle class and below.

[@terryscott9067]

Florida Grown as well. Florida has gone to 💩

[@jameslocklear5298]

Sorry pal your kids gotta move to where they can afford, NOT where they want to live includes FL their home state. I recommend West Virginia and Mississippi where most people can afford housing easily. GL!

[@info781]

Good grief I lived with room-mates in rented places all though my 20's. Is this the expectation now?

[@joec1545]

@@info781 The expectation is, if you want a home, you work hard, save, and you can achieve home ownership. That American dream is now next to impossible. In 1981 the average wage was 22k and the average home was 48k which is about 2.2 times the wages and with very similar economic conditions to now. The average wage now is 56k and the average home is 425k or 7.5 times wages. This is not a small difference, this is an absurd number. I don’t know about you but I don’t like being manipulated and screwed over and that is exactly what our government is not only allowing to happen, they are 100% responsible.

[@gregbenwell6173]

I have been saying a lot of this since before 2008!! There is absolutely ZERO REASON home prices should be as high as they are, and the banks and real estate agents are super inflating prices to the point where nobody with a decent job can afford a house in this day and age by themselves!!

[@ScrappyPooPoo]

lol

[@vickybryant]

No real estate agent or bank can have control over the real estate prices. It is not the real estate agent or the bank buying the house, it is the consumer and they have their own reasons for it. Massive spending and artificially kept low to zero interest rates for a significant amount of time is what led to the situation we are in today. Everyone wanted a piece of the pie and many who were in a position to do so decided to make use of the low cost of borrowing money. It is very unfortunate to see first-time young couples not being able to compete in the current conditions and people being priced out of the market. This will take years if not decades to fix unless we really have a massive economic crash, we are not going to see a housing crash any time soon and even then it is very questionable if we will see a real estate market crash, more so we may experience a correction.

[@vickybryant]

@@maxsoregon I feel you. It has happened all across the country where prices are/were more reasonable and I continue to see it even today.

[@morganhill2586]

Yea.. real estate agents are usually broke

[@susanlester1]

Real estate agents???????? Lol

[@deftonesleep1]

I live about an hour south of Portland Oregon. Many homes are being built right now. 2,000 sq ft home is going for about 500,000. Bought my house in 2016 at 3.5% for 285k now worth about 525k. I haven’t seen home prices go down at all. I feel bad for buyers now. I couldn’t afford my house now if I had to buy it.

[@JerryPinkas]

Thanks for sharing your story with others here on this channel. It sounds like you’re winning. Truly appreciate you taking the time to watch this video and I’ll see you in the next one.

[@stephaniesihpol8553]

This is super helpful thank you. We’ve decide to continue renting. But you’ve confirmed much of what I’ve read and seen. Thank you.

[@JerryPinkas]

So glad this was helpful to you. I truly appreciate you taking the time to watch this video and comment here on this channel and I will see you in the next video.

[@DebM122]

Thank you for making this video and letting people know about the housing market. Excellent information.

[@Bleedblackandgold51]

I live in southeast Louisiana and my house was appraised twice in the last 6 months for a refinance. The first appraisal came in a $430,000 and I ended up not going through with the loan. 6 months later I had another appraisal and I was shocked when it came in at $466,000.

[@MrDonny27]

Higher property tax for same house

[@Jspath3]

​@@MrDonny27bingo

[@rethacordovano9879]

For a house 30 miies outside of town, the base prices start at $850,000.00 for a 1400 sq.ft. home in the greater Phoenix, AZ area

[@WasatchRealtor]

Good video and well-reasoned. The supply and demand is a little tricky. We compare household formation to inventory and determine that they need ot align. There are many factors that play into whether or not that newly formed household will be looking for an individual dwelling. Consider other cultures in which multiple households live behind one door. Economic and other factors make this much more likely. I'm not saying, that is false to compare the two, only that it's nuanced. If interest rates, and rent prices continue to rise without corrisponding softening in the home prices, there will be more multi-household dwellings that become semi-permanent. Just food for thought.

[@missylearned9821]

There are lots of houses for sale in the metro Atlanta area small town (about 50 mins from downtown ATL) that we’re in that are sitting on the market for 90+ days now. The problem is the sellers/realtors are asking DOUBLE and TRIPLE what the house was valued at or sold for in 2019. Double and triple. While we’ve had inflation, that’s simply nothing but greed and not feasible for the vast majority. The sellers/realtors got used to asking for ludicrous prices while rates were 2-3% and expect to continue adding a 50% value to the homes over a year to year period even with 7% interest rates. Realtors should keep the homeowners in check, but they’re not going to because they want the commission. Sad for all involved.

[@info781]

Have you ever sold anything in your life? Is it greed to ask a price that you think you can get? This is not Cuba.

[@info781]

@@sailingaeolus Agree but not just dems, reps in FL trying to ban foreign ownership, that is not the problem, not enough supply is the problem

[@JerryPinkas]

Thanks for sharing what Real estate is doing in Atlanta. See you in the next video.

[@JerryPinkas]

This is true! Thanks for sharing and thanks for commenting. See you in the next video.

[@missylearned9821]

@@info781 Yes, I have. But, it has nothing to do with what is going on here. BTW, I personally know more about Cuba than you (likely) ever will. Bad, 30 years old comeback that flew in the 80s and 90s, not today.

[@fredbraun5308]

Here in Minnesota the price is heavily affected by the location. If you are willing to move more than an hour away from larger cities you can still find a reasonably priced home. I have been looking at homes in what would be considered "the boondocks" for when I retire, and while there are not a lot of homes there are several that would cost far more if they were closer to a city. As the old saying goes "Location, location, location, as a buyer that is a big factor to consider.

[@JerryPinkas]

Thanks for sharing your story about what it’s like with home prices in Montana. I agree it’s always been location location location anywhere with Real estate. Thanks for taking the time to comment. I do appreciate you watching this video and I’ll see you in the next one.

[@ariliving]

What used to be outer city cheap is now competing with the same prices in the inner city in Florida. Not the case here. You would have to move 3 hours to nowhere instead of 1 hour out now. Even then, the prices are way overpriced for what you get.

[@fredbraun5308]

@@ariliving Location, location, location...

[@johnbob4545]

​@@JerryPinkasWell heck after the first sentence I thought he was in Utah.

[@thecannabisdoc]

thanks for this helpful information!

[@donaldwayne4219]

Interesting explanation of what is happening with the market. Very similair here in Australia. Pricing is driving migration to regional areas and therefore driving pricing in those areas accordingly

[@RobotsCanDoAnything]

Jerry, I live in North Jersey. There are lots of residential home building going on in this area. The majority of this construction is rental units.

[@chazman4461]

Well, when you have major companies still buying houses for cash, it is kind of hard for the market to crash. It is happening a ton where I live. Adds on the radio constantly. They are working with realtors in my area to do it.

[@JerryPinkas]

It’s happening! Thanks for sharing your story. It’s basically supply and demand and when you have less supply ultimately prices tend to creep up. Thanks for watching. I’ll see you in the next video.

[@melissascott3400]

Awesome video. Thank you. So many think house price will fall drastically next year. I just bought a home at 6.6 interest rate. It’s still brutal out there. Northern Indiana

[@ReneeT33]

I live in northern New Hampshire and the new construction building is booming and these are for 1 million plus homes..most purchased with cash. The housing inventory is going for way over asking and very fast. The money is being spent like crazy here. I own a construction company and it has been non stop for years and years. Im hustling till it ends and staying mortgage free. 👍