Too many act like the rates are the only problem. Sure 6% it’s not that high typically but IT IS HIGH when houses are at an all time high Between the loan amount and the 2% higher rates from a year ago, the average payment has basically doubled A house that used to be 300k is now 500k and a home that was 700k is now 1.2 million dollars. So calculate the difference in principal for the different and then calculate the difference between 3% rate and 5.5% rate AND THEN throw on a little more property tax because the price of houses have gone up and counties are adjusting the taxes And finally, throw in an economy with layoffs happening left and right. What could go wrong
Pretty spot on with what has transpired I’m very fortunate I purchased in Feb 21 for 365k @ 2.99% Mortgage, tax, insurance 1400$ per month . That’s what a small studio goes for around here . If I were to try to purchase it now according to Zillow, Redfin ( 500,000) and the 5-6 % interest rate it would not be possible.
Seriously though!!! anyone talking about how a house for sale in March for the same price now in July has a difference in monthly payment by $1000+!!! where is the average American family going to pull that kind of money from??
Exactly. Economist here by trade, my firm is predicting the crash is going to be the worst in a century. Way worse than 2008. I feel sorry for everyone that purchased a house and is now underwater on their mortgage.
It's an act. I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose market share. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
So I love the "vulnerability" of this CEO, owning up accountability for the bets he made, and the people he hired ended up losing their chips but not his.
It's an act. I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose profits. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
Based on his comments, he doesn’t appear to understand the issue at all. Home prices in my area (Raleigh,NC) have gone up 50% in the last two years. His advice is to go out and buy a house right now 😂 after interest rates doubled as well.. lol
Honest? He contradicts himself constantly. Notice the only optimism in the market is by Real Estate people. BTW, the Feds are going increase rates 2 more times this year
hes just trying to sell houses. Hes one of the causes of the whole problem. Just trying to convince people to keep buying so he can keep getting his bonuses.
Interest rates are ending the year above 6 percent. No wind has come out of the bubble yet, IDK what he's talking about! Stop crying that you had to lay off personnel and address the problem by educating both agents and buyers, home price going up 30% just because interest rates dropped is not healthy for anyone long term.
Biggest crash in history. Home prices in free fall where I'm living. No wonder Redfin stock went from $120 dollars to $5 dollars in a few months. Soon IBuyers will be auctioning off the rest for cash.
Every relator in these media interviews all claim, “now Is a perfect time for the buyer to buy.” Which sounds like they are desperate, because I’ve seen homes that have been on the market since May.
It's an act. I wish he would just really be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose profits. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
because he was honest, and not trying to bullshit reality. Investors know its going to be a rocky ride, but they want to hear the CEO acknowledge this and be realistic. Firing people is realistic and it shows he has not lost his wits. This is why the stock is up and will probably go up to its initial offering....IMHO....
@@coahuiltejano ok, and if I am not mistaken when they had trouble flipping those houses they bought wasnt he the one that said contractors are sitting at home not working and smoking dope..? yea as a contractor I didnt like that at all....but by all means if you want to invest in that company have at it...
@@shouse5110 I agree with you, BTW. But I'm not investing in that company at all, just trying to explain why the stock may have gone up. He seems like he is struggling, and it made him appear honest. But I'm not investing in any housing situation at all, unless someone is interested in building me a house in pleasanton... In my opinion, this is housing crash that is just beginning...
I sold my house at the peak this year. Sitting on the 800K in cash right now. Waiting for the crash after selling my house to the highest bidder. Crazy someone paid 150K over asking when rates were 2.8% 6 months ago. Already it's lost 30% of it's value according to Redfin.
🙄 is this guy new to real estate? 🤨 sounds like a employee review and he's trying to keep his job 😬 anyone with basic economics could tell you home prices are going down at least 25%. Hey it was a bubble! a prolonged bubble because the Feds kept rates low, and people were buying because they thought they were going to make money or lose out! 🧐 same thing for crypto and stocks, duh! 🤨 the Fed is going to keep raising till the end of the year, buyers are going to sit on their hands to see how low prices will go, which will cause prices to come down because demand will go way down, investors ibuyers are going to fire sell (as Zillow did) their homes and stop buying for months, then unemployment will start rising up to about 5% or more, foreclosures will increase and renters will stop paying, all these factors mean less buying and more inventory just like... 2008 through 2012 and this time interest rates are going up! 😲 And what stopped prices going down? 🤔 when buying with about 10% down the payment was about the same as renting after the tax write-off. Again rates are the highest they've been since about 2008 which tweeks the equation but essentially a repeat of the last home price crash with higher interest rates *and this is all! the Feds fault!* and now the Feds must tank the economy to squash inflation, idiots! 🤨😠
worse if homes crash like 2008 commercial real estate will so it will dwarf 2008 why would home crashes are so rare? we had a pandemic, many homes rose 200% in 10 years my area for example 160-520k median home price 2011-2021 low wage high inflation( 1970 had better wages) record debt as far as commercial real estate because if gas stays elevated its going to drive more people away from working in offices right now 60% on metros dont have people in them it very likely will cause the biggest real estate crash ever and for the people that say doom and gloom ur a tin foil hat would they have expected to wear a face mask in walmart see $7 gas see presidents falling off there bicycles? this is not a normal time
Here in California ave home prices are almost 8x average wages and almost 20x average annual rental value. Historically these ratios are at their highs and, be it a big pop, or a slow decline, housing needs to deflate 15, 20, maybe 25%.
Seriously? This guy is a snake. He's been lying through his teeth trying to prop up prices so they can offload the inventory and keep the losses to a minimum. This is after they spent 2 years grossly overpaying for homes to drive up prices. The stock price is all he cares about. He should be in jail. Blind people like you are the reason these people get away with this. I hope you're just a troll and not a real person.
I low Balled the seller and got a home worth 235k for 196k at all time low rate. The value of the house has dropped to 220k but I still got it for 196k and owe 184k in less than a year so 36k in equity. I made extra payments on a 30 year loan lots of them. I thought about even paying it off this year but Im waiting to see how the next year goes. I also thought about holding out and buying a rental property in cash im just waiting for the 200k properties to drop to 150k or 160k but I might settle for 170k.
Always good to hear your thoughtful and logical analysis. I don't care about the bullish or bearish markets. Trade a small percentage of your portfolio rather than going in and out every couple of weeks trying to time the market, trading went smooth for me as I was able to raise over 8.4 BTC when I started at 3 BTC in just a few weeks implementing Stacy Huth daily trading signals and tips.
We've been in a recession for years. It doesn't need to be called. You don't call a gun shot wound a paper cut till a doctor tells you. Pretty self evident.
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
@Wills Treasures That's impressive. Are you giving her your money or the money stays in your trading account? What's really the idea behind copying trades.
Greed highly got us into the last crash and the same now. Houses are even more higher than at the last crash. We never learn. NO SYMPATHY FOR THOSE WHO DIDN'T LEARN!!!
The reason for much less sales of houses is the fact that far less houses are put on the market for sale. If there are very few offered for sale, then there must be less sales even if the prices are higher.
Don't know what planet you are living on, but in San Diego there are over 4,000 homes for sale (3 bed 2 bath or bigger SFH) that are just sitting... nobody is paying these prices anymore.
"Marry the house", and divorce in a few years. Nothing worse than buying a money pit, which is my definition of a house. On second thought, co-signing a loan for a deadbeat relative is even worse. No equity AND full responsibility for the debt.
It's really inflation and always has been. The housing market is looked at as homes in amount of $, as in price of homes. While it's not really that. People buy them with loans and pay payments. And average payments are what goes up all the whole-time during inflation. We just look at this wrong. The problem comes from looking at supply and demand incorrectly first. As we keep hearing that low supply is why housing is going up. That's wrong too. Supply and demand is really 3 components. 1st. Supply . 2nd. Demand ,, and 3rd. Movement of amount of money up or down. Change any one of them and all 3 change. Inflation (we are in) pushes up prices first, so here we have # 3 first. But that means amount people will pay each month. As people pay more for housing that translates from higher monthly payments. And if interest does not move up. The higher payments end up higher amount of $ for each unit. So now we have higher amount of $ per house. That now pushes demand fast coming in in 2nd place, leaving supply (in last place ) which can't keep up when inflation happens. As people see homes going up in terms of $. Demand is up right along with it. Everyone wants to buy a home that will be worth more $ then you paid. The prices keep going until prices going up reach a point of equilibrium to money supply ,, IE inflation. For which we still have more then 400% to go. But remember that really means people are paying more and more for their average monthly payments. Now comes higher interest , so while monthly payments are still going up (because we're nowhere near done with inflation) it's now going to pay the interest going up rather than increasing the $ amount of homes. Next and still coming is even higher monthly payments people will pay. It will reach enough to pay that extra interest and pass it again. Soon with the amount of inflation still coming , again will be a rise of home prices right along with it. If the Fed keeps the process up of ever-increasing interest rates , they'll keep it going to interest rather then $ amount of homes. Though in the 70s when this did happen last. Fed did not hold their resolve in holding down inflation. So, we expect that again. The people will cry out about the unemployment that higher interest will cause (and the reason it causes it is because building homes , or for that matter making anything people buy with loans now doesn't make a profit so layoffs come), and again Fed will have to pick between holding down inflation and people working. They'll go back and forth. Because neither is a cure for inflation. There's only one cure and that is stop producing more money supply and spending it. But they are not doing that. We have about 6 months to a year in my opinion before an explosion of home prices again. This time people know we are in inflation (even though we have been for 13 years ) we (all of us) now know it's here. Panic will set in and home prices will really shoot up. Fed has no good choices we're going to have inflation (like it or not) , but they can slow it by damaging our economy . By producing recession , but with inflation ,, and the 2 together are stagflation. Which really means things people buy with money from loans will cost more , thereby reducing demand. While people buying things without loans will just go up and keep going up until we reach the point of equilibrium to money supply . And we are still working through money produced when Obama was in office. Let alone the rest , which is still coming into economy. Though they can't keep that going too long. So, this ride is not over yet. This slowing up of home prices will not last too long , way too much money in our economy to keep prices down. Assets that don't use loans will be the best for right now. Like gold and silver. Still the ride of home $ amounts going up is nowhere near done. Just like we are never going to see $10,000 homes like we did in 1960 and for the same reason. Inflation. Right now, and for a very little time homes will be on sale. But don't be fooled into thinking they will go down a lot and stay that way.
What eligibility do companies look for when hiring a CEO 🤔 is one of the eligibility spinning facts in a zealous and passionate manner but lack the courage and don’t have spine to say the truth? It seems like housing bulls now are slowly accepting the reality day by day but still won’t say they have been wrong and cause panic among some buyers that are still in the market who want to buy at all time high prices with interest rates between 5-6% and recession is already there.
I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose market share. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
Mr CEO you laid off so many people ..did you get a paycut as well???I hardly dough that!!!!!!!! People like you still getting big money and working people getting fired!!!!!!
@@spikey5216 You don't look at individual house price? If a house is sold at half of the market price without no issue on the house, would you buy it? That's what I am talking about. You have to look individually. Full!
Too many act like the rates are the only problem. Sure 6% it’s not that high typically but IT IS HIGH when houses are at an all time high
Between the loan amount and the 2% higher rates from a year ago, the average payment has basically doubled
A house that used to be 300k is now 500k and a home that was 700k is now 1.2 million dollars. So calculate the difference in principal for the different and then calculate the difference between 3% rate and 5.5% rate AND THEN throw on a little more property tax because the price of houses have gone up and counties are adjusting the taxes
And finally, throw in an economy with layoffs happening left and right. What could go wrong
Pretty spot on with what has transpired
I’m very fortunate I purchased in Feb 21 for 365k
@ 2.99%
Mortgage, tax, insurance 1400$ per month .
That’s what a small studio goes for around here .
If I were to try to purchase it now according to Zillow, Redfin ( 500,000) and the 5-6 % interest rate it would not be possible.
Seriously though!!! anyone talking about how a house for sale in March for the same price now in July has a difference in monthly payment by $1000+!!! where is the average American family going to pull that kind of money from??
Exactly. Economist here by trade, my firm is predicting the crash is going to be the worst in a century. Way worse than 2008.
I feel sorry for everyone that purchased a house and is now underwater on their mortgage.
Exactly. Crash is already happening where I live.
Kudos to the CEO, very passionate about his Company.
I feel sorry for people that purchased 2021. I know many people underwater, they will go bankrupt soon when the Ibuyers dump their inventory.
It's an act. I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose market share. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
Gotta like this CEO's honesty. Makes me want to buy redfin
He has lost 75% of his net worth through his stock. That is enough to humble anyone.
Their stock is on sale. I purchased 1000 shared at $3 dollars a share. That would be worth over 100K dollars a year ago. I purchased it for 3000$.
Shout out to this CEO more people like him
So I love the "vulnerability" of this CEO, owning up accountability for the bets he made, and the people he hired ended up losing their chips but not his.
Yeah. This is one of the best ways to get customers imo. Real people saying real shit
@@robotman011 Yeah but he's delusional if he thinks the worst is over
Love you comments
Love your comments
It's an act. I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose profits. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
Lol buy now because it's cheaper than 3 months ago! Great advice guy
Based on his comments, he doesn’t appear to understand the issue at all. Home prices in my area (Raleigh,NC) have gone up 50% in the last two years. His advice is to go out and buy a house right now 😂 after interest rates doubled as well.. lol
Well of course he wants people to buy homes, he is the wolf in sheep's clothing!
He sells houses
Yeah what do you expect? As CEO, he has to be a consummate salesman for his company and what drives profits for his company.
People are underwater on their mortgage. The bubble is finally popping. I lived through 2008, this is way way worse.
this guy is so honest about things. Really great interview.
Honest? He contradicts himself constantly. Notice the only optimism in the market is by Real Estate people. BTW, the Feds are going increase rates 2 more times this year
you are so naive.
100% agree. Have you seen the Zillow CEO? They are saying prices are going to increase 20% this year. They are crazy.
Glenn is thoughtful and relatable. Not like the robotic CEOs that reads a script.
I like this guy being honest. Definitely going to be using Redfin more often now!
hmmm his company is part of the reason why we have such inflated home prices. So please!
hes just trying to sell houses. Hes one of the causes of the whole problem. Just trying to convince people to keep buying so he can keep getting his bonuses.
Interest rates are ending the year above 6 percent. No wind has come out of the bubble yet, IDK what he's talking about!
Stop crying that you had to lay off personnel and address the problem by educating both agents and buyers, home price going up 30% just because interest rates dropped is not healthy for anyone long term.
If this guy is a CEO. short his company in the very near future.
@@paraglidingnut26 too late, redfin is down 90% already, not much left to milk here.
Biggest crash in history. Home prices in free fall where I'm living. No wonder Redfin stock went from $120 dollars to $5 dollars in a few months. Soon IBuyers will be auctioning off the rest for cash.
Every relator in these media interviews all claim, “now Is a perfect time for the buyer to buy.” Which sounds like they are desperate, because I’ve seen homes that have been on the market since May.
What incredible honest from Redfin CEO, refreshing
It's an act. I wish he would just really be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose profits. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
I wondered why Redfin stock is down 90%.
After this interview with their CEO, I wonder why it's not down more.
now he sold off a bunch of stock at around 20 a share, is he sharing that info? I bought redfin stock made 12% on it and dumped that stock already...
because he was honest, and not trying to bullshit reality. Investors know its going to be a rocky ride, but they want to hear the CEO acknowledge this and be realistic. Firing people is realistic and it shows he has not lost his wits. This is why the stock is up and will probably go up to its initial offering....IMHO....
@@coahuiltejano ok, and if I am not mistaken when they had trouble flipping those houses they bought wasnt he the one that said contractors are sitting at home not working and smoking dope..? yea as a contractor I didnt like that at all....but by all means if you want to invest in that company have at it...
@@shouse5110 I agree with you, BTW. But I'm not investing in that company at all, just trying to explain why the stock may have gone up. He seems like he is struggling, and it made him appear honest. But I'm not investing in any housing situation at all, unless someone is interested in building me a house in pleasanton... In my opinion, this is housing crash that is just beginning...
🤣🤣🤣
I'm reminded of the rosy outlook the media tried to give about the market in 2007-08. And most of us remember what happened right after.
are there videos from that time that we can watch? I am really curious to draw some parallels. But, again, "this time it's different", lol.
I sold my house at the peak this year. Sitting on the 800K in cash right now. Waiting for the crash after selling my house to the highest bidder.
Crazy someone paid 150K over asking when rates were 2.8% 6 months ago. Already it's lost 30% of it's value according to Redfin.
🙄 is this guy new to real estate? 🤨 sounds like a employee review and he's trying to keep his job 😬 anyone with basic economics could tell you home prices are going down at least 25%. Hey it was a bubble! a prolonged bubble because the Feds kept rates low, and people were buying because they thought they were going to make money or lose out! 🧐 same thing for crypto and stocks, duh! 🤨 the Fed is going to keep raising till the end of the year, buyers are going to sit on their hands to see how low prices will go, which will cause prices to come down because demand will go way down, investors ibuyers are going to fire sell (as Zillow did) their homes and stop buying for months, then unemployment will start rising up to about 5% or more, foreclosures will increase and renters will stop paying, all these factors mean less buying and more inventory just like... 2008 through 2012 and this time interest rates are going up! 😲 And what stopped prices going down? 🤔 when buying with about 10% down the payment was about the same as renting after the tax write-off. Again rates are the highest they've been since about 2008 which tweeks the equation but essentially a repeat of the last home price crash with higher interest rates *and this is all! the Feds fault!* and now the Feds must tank the economy to squash inflation, idiots! 🤨😠
worse if homes crash like 2008 commercial real estate will so it will dwarf 2008 why would home crashes are so rare? we had a pandemic, many homes rose 200% in 10 years my area for example 160-520k median home price 2011-2021 low wage high inflation( 1970 had better wages) record debt as far as commercial real estate because if gas stays elevated its going to drive more people away from working in offices right now 60% on metros dont have people in them it very likely will cause the biggest real estate crash ever and for the people that say doom and gloom ur a tin foil hat would they have expected to wear a face mask in walmart see $7 gas see presidents falling off there bicycles? this is not a normal time
home prices were already to high (adjusted for inflation) 5 years ago in many states its just over kill and another punch up now ...
Great CEO!
Here in California ave home prices are almost 8x average wages and almost 20x average annual rental value. Historically these ratios are at their highs and, be it a big pop, or a slow decline, housing needs to deflate 15, 20, maybe 25%.
I feel sorry for people that purchased 2021. I know many people underwater, they will go bankrupt soon when the Ibuyers dump their inventory.
This guy seems so genuine, I hope Redfin does great !!
Seriously? This guy is a snake. He's been lying through his teeth trying to prop up prices so they can offload the inventory and keep the losses to a minimum. This is after they spent 2 years grossly overpaying for homes to drive up prices. The stock price is all he cares about. He should be in jail. Blind people like you are the reason these people get away with this. I hope you're just a troll and not a real person.
“What does this mean for first time home buyers”…. “They are f*k’d”
"Correction" means "BIG FUCKING LOSS"
You heard it not a recession but a jam, get me some toast.
I
Like his products and honesty and energy and stock prices
I feel sorry for people that purchased 2021. I know many people underwater, they will go bankrupt soon when the Ibuyers dump their inventory.
why feel bad when in 10 years their property will be worth 25-30% more? Hard assets have on trajectory over the long term. up
@@jimmyjohnson5620 The Japanese felt the same way in 1990....
I low Balled the seller and got a home worth 235k for 196k at all time low rate. The value of the house has dropped to 220k but I still got it for 196k and owe 184k in less than a year so 36k in equity. I made extra payments on a 30 year loan lots of them. I thought about even paying it off this year but Im waiting to see how the next year goes. I also thought about holding out and buying a rental property in cash im just waiting for the 200k properties to drop to 150k or 160k but I might settle for 170k.
Good piece surprisingly candid answers.
Always good to hear your thoughtful and logical analysis. I don't care about the bullish or bearish markets. Trade a small percentage of your portfolio rather than going in and out every couple of weeks trying to time the market, trading went smooth for me as I was able to raise over 8.4 BTC when I started at 3 BTC in just a few weeks implementing Stacy Huth daily trading signals and tips.
Her telegram👉 (@coin_signal10)
Few words of advice for everyone, "Market price does not matter, Buy the dip".
I'll agree with you because I've used her strategy in the past and was able to raise a total profit of 10.5 BTC in 6 weeks..
Stacy Huth is my favourite when it comes to trading btc, she is honest and straight to the point
Great skills and knowledge about the market. I enjoy full profits and easy withdrawal with no complaints, trade with the best.
the housing marking will go down around 25% to 30% in the next 12 months
Interest rates are up from 3.2 to 5.2% . Mortgage EMI is up 50% since January. How is this sustainable??
We've been in a recession for years. It doesn't need to be called. You don't call a gun shot wound a paper cut till a doctor tells you. Pretty self evident.
How is owning a home considered an "American dream"? It shouldn't be a dream.
As a CEO, his answers are actually Vague.
When will be the peak till housing prices drop until it starts going up again?
liar. Housing market sucks
This is why I don’t work for someone. They can fire you…
That is a good CEO.
I came here to learn how to invest after listening to a guy on radio talk about the importance of investing and how he made $960,000 in 4 months from $160k, somehow this video has helped shed light on some things, but I'm still confused, I'm a newbie and I'm open to ideas.
Investing in stocks is a good idea, a good trading system would put you through many days of success.
It is possible to produce superior performance provided you do something different from the majority. However most of us tend to pay more
@@pathouk915 Exactly, the trick is to diversify your investment, don't panic when everyone else is and invest consistently.
@Wills Treasures
@Wills Treasures That's impressive. Are you giving her your money or the money stays in your trading account? What's really the idea behind copying trades.
I thought Redfin went bankrupt!
I feel sorry for people that purchased 2021. I know many people underwater, they will go bankrupt soon when the Ibuyers dump their inventory.
After 5:00 is when he finally tell the truth
whos head is that in the back of this viceo, seems a little weird....
That mans smile.
🤑💵
Greed highly got us into the last crash and the same now. Houses are even more higher than at the last crash. We never learn. NO SYMPATHY FOR THOSE WHO DIDN'T LEARN!!!
Captain of the Hiddenburg ... 'Ve are letting some air out of ze balloon'
Repented doing business via redfin. Cheap things have cheap outcome
Confucius say...
You buy cheaply
You pay dearly
😉
This guy is out of his mind. Can't wait to see the market crash to see what he'll say than! 🤣😂
The reason for much less sales of houses is the fact that far less houses are put on the market for sale. If there are very few offered for sale, then there must be less sales even if the prices are higher.
In the Bay Area I’m seeing way more houses on sale
Don't know what planet you are living on, but in San Diego there are over 4,000 homes for sale (3 bed 2 bath or bigger SFH) that are just sitting... nobody is paying these prices anymore.
Clearly he has no idea what he's doing. Hire-fire-hire-fire, get ready for more layoffs
He is laying because he want to tell to home buyer it’s okay buy now and you will refinance.
Everything is great we're laying off workers
If you made the mistake- why didn’t you resign ?
I won’t touch this stock with a bargepole!
"Marry the house", and divorce in a few years. Nothing worse than buying a money pit, which is my definition of a house. On second thought, co-signing a loan for a deadbeat relative is even worse. No equity AND full responsibility for the debt.
Stock market has not recovered... what is this guy talking about? It's still almost 15% under
uhhhhh we're in a recession
Crash is just boiling it will be very ugly ,
It's really inflation and always has been.
The housing market is looked at as homes in amount of $, as in price of homes. While it's not really that. People buy them with loans and pay payments. And average payments are what goes up all the whole-time during inflation. We just look at this wrong.
The problem comes from looking at supply and demand incorrectly first. As we keep hearing that low supply is why housing is going up. That's wrong too. Supply and demand is really 3 components. 1st. Supply . 2nd. Demand ,, and 3rd. Movement of amount of money up or down. Change any one of them and all 3 change. Inflation (we are in) pushes up prices first, so here we have # 3 first. But that means amount people will pay each month. As people pay more for housing that translates from higher monthly payments. And if interest does not move up. The higher payments end up higher amount of $ for each unit. So now we have higher amount of $ per house.
That now pushes demand fast coming in in 2nd place, leaving supply (in last place ) which can't keep up when inflation happens. As people see homes going up in terms of $. Demand is up right along with it. Everyone wants to buy a home that will be worth more $ then you paid. The prices keep going until prices going up reach a point of equilibrium to money supply ,, IE inflation. For which we still have more then 400% to go. But remember that really means people are paying more and more for their average monthly payments.
Now comes higher interest , so while monthly payments are still going up (because we're nowhere near done with inflation) it's now going to pay the interest going up rather than increasing the $ amount of homes. Next and still coming is even higher monthly payments people will pay. It will reach enough to pay that extra interest and pass it again. Soon with the amount of inflation still coming , again will be a rise of home prices right along with it. If the Fed keeps the process up of ever-increasing interest rates , they'll keep it going to interest rather then $ amount of homes. Though in the 70s when this did happen last. Fed did not hold their resolve in holding down inflation. So, we expect that again. The people will cry out about the unemployment that higher interest will cause (and the reason it causes it is because building homes , or for that matter making anything people buy with loans now doesn't make a profit so layoffs come), and again Fed will have to pick between holding down inflation and people working. They'll go back and forth. Because neither is a cure for inflation. There's only one cure and that is stop producing more money supply and spending it. But they are not doing that. We have about 6 months to a year in my opinion before an explosion of home prices again. This time people know we are in inflation (even though we have been for 13 years ) we (all of us) now know it's here. Panic will set in and home prices will really shoot up. Fed has no good choices we're going to have inflation (like it or not) , but they can slow it by damaging our economy . By producing recession , but with inflation ,, and the 2 together are stagflation. Which really means things people buy with money from loans will cost more , thereby reducing demand. While people buying things without loans will just go up and keep going up until we reach the point of equilibrium to money supply . And we are still working through money produced when Obama was in office. Let alone the rest , which is still coming into economy. Though they can't keep that going too long. So, this ride is not over yet. This slowing up of home prices will not last too long , way too much money in our economy to keep prices down. Assets that don't use loans will be the best for right now. Like gold and silver. Still the ride of home $ amounts going up is nowhere near done. Just like we are never going to see $10,000 homes like we did in 1960 and for the same reason. Inflation. Right now, and for a very little time homes will be on sale. But don't be fooled into thinking they will go down a lot and stay that way.
What eligibility do companies look for when hiring a CEO 🤔 is one of the eligibility spinning facts in a zealous and passionate manner but lack the courage and don’t have spine to say the truth? It seems like housing bulls now are slowly accepting the reality day by day but still won’t say they have been wrong and cause panic among some buyers that are still in the market who want to buy at all time high prices with interest rates between 5-6% and recession is already there.
I wish he would just be honest and say something like this "Look, when demand ramps up we need to employ more people to meet that demand or the business goes somewhere else and we lose market share. When that demand drops, we have to cut our workforce so we don't lose profits. Its the ugly part of running a publicly traded company."
Using that analogy: "It's like you are on drugs..." was a mistake in PR. I like the guy buy sometimes being too honest can hurt your company.
Redfin like Zillow w0ke jokes. Good Riddance
Short
These people do not care.
This lady needs a vocal coach, or a different career. It’s impossible to follow the reported information because of her screeching voice
He's been doing this for 15 years? Sorry, not long enough to understand everything.
Mr CEO you laid off so many people ..did you get a paycut as well???I hardly dough that!!!!!!!! People like you still getting big money and working people getting fired!!!!!!
I remember i bought a house in 2009 with 6.125% mortgage rate. So right now it's not super high.
how much was the house tho? probably a fraction of what it is now
Who stupid enough to buy a house right now?? 😂
@@spikey5216 Well, when the price is right, why not? LOL
@@KN-eh2fh u think the price is right at the moment?? I don’t talk to brainless people 👋
@@spikey5216 You don't look at individual house price? If a house is sold at half of the market price without no issue on the house, would you buy it? That's what I am talking about. You have to look individually. Full!
Lol. Try harder
if you do not own property, you have missed the boat- you are a renter get used to it. I will be raising rent btw
ok if you say so....lol...
So 2007.....
Good luck with that