THE TRUTH HURTS. HIGH RATES FOR 2025
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Short Summary for [THE TRUTH HURTS. HIGH RATES FOR 2025]( • THE TRUTH HURTS. HIGH... ) by [Merlin](merlin.foyer.w...)
Title: 2024 Interest Rate Projections and Market Update
[01:57]( • THE TRUTH HURTS. HIGH... ) Fannie Mae and Freddie Mac projecting interest rates above 7% for 2024
[03:54]( • THE TRUTH HURTS. HIGH... ) Market trends looking positive in April 2025
[05:51]( • THE TRUTH HURTS. HIGH... ) Pay attention to inventory and types of homes hitting the market.
[07:48]( • THE TRUTH HURTS. HIGH... ) Inventory rising will lead to falling or stagnant prices in 2025
[09:45]( • THE TRUTH HURTS. HIGH... ) Huge difference in net worth between renters and homeowners
[11:42]( • THE TRUTH HURTS. HIGH... ) Housing supply not meeting demand, leading to price increase
[13:39]( • THE TRUTH HURTS. HIGH... ) High rates and corporate property ownership impact on housing market
[15:35]( • THE TRUTH HURTS. HIGH... ) Government should promote affordable housing through incentives for builders.
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Detailed Summary for [THE TRUTH HURTS. HIGH RATES FOR 2025]( • THE TRUTH HURTS. HIGH... )
Title: 2024 Interest Rate Projections and Market Update
[01:57]( • THE TRUTH HURTS. HIGH... ) Fannie Mae and Freddie Mac projecting interest rates above 7% for 2024
Interest rates previously forecasted to be in the mid 5%, then 6%, now updated to be in the 7s
Possibility of a rate cut only after September, impacting buyers, sellers, and investors
[03:54]( • THE TRUTH HURTS. HIGH... ) Market trends looking positive in April 2025
We saw an increase in closed sales, stable inventory levels, price appreciation, and decreased days on the market due to tourist season effect in April.
The Federal Reserve has become cautious about potential rate cuts, indicating a need for lower inflation levels before any changes are made.
[05:51]( • THE TRUTH HURTS. HIGH... ) Pay attention to inventory and types of homes hitting the market.
Inventory levels and listings can impact home prices regardless of interest rates.
An increase in luxury home listings and an exodus of Airbnb owners may affect the housing market.
[07:48]( • THE TRUTH HURTS. HIGH... ) Inventory rising will lead to falling or stagnant prices in 2025
In 2023, inventory, interest rates, and prices all rose, but it is not expected to happen two years in a row.
The current situation is reminiscent of the 2006 market uncertainty when people were overpaying and making irrational decisions.
[09:45]( • THE TRUTH HURTS. HIGH... ) Huge difference in net worth between renters and homeowners
Median renter's net worth is $10,400, while median homeowner's net worth is $396,200
Home equity builds over time, and there are various government programs to assist with home ownership
[11:42]( • THE TRUTH HURTS. HIGH... ) Housing supply not meeting demand, leading to price increase
Huge gap between new households and new housing units built
Rising demand for single family homes not being met by supply
[13:39]( • THE TRUTH HURTS. HIGH... ) High rates and corporate property ownership impact on housing market
Corporate entities are being restricted from owning property, but the damage has already been done by hedges buying and renting properties.
Housing affordability is a supply and demand issue, with a shortage of affordable housing for purchase, leading to an increase in supply for rentals.
[15:35]( • THE TRUTH HURTS. HIGH... ) Government should promote affordable housing through incentives for builders.
Programs for affordable housing and builder incentives can lead to high-density living and basic finishes.
Reduced amenities, lower association fees, and land availability affect the feasibility of affordable housing projects.
Thank you
You're welcome
I hope they raise the rates to 10+%........ been there before not my problem....
In a way, I do too! BUY BUY BUY
This down turn hasn't even begun yet. Peaked lat 2005 in Florida last time, it went down for about 6 years, this time it could be 10.
The run up was almost 15 years... so the correction should be longer than last time. The exception could be if we have major inflation, and the buying power will go down significantly, but the prices will rise.
@@floridarealestatetv In the 90's house price were pretty flat. I bought my first house in Florida in 89 for 52k, sold it for 76k in 1999 with many upgrades. Build an awesome house in Stuart for 135 or so counting land. Top of the line house, I saved money doing a good part of the work. I was the GC. The real Run up started 2000, and ended in late 2005 when I sold everything. It didn't last 15 years. I begged my friend to sell all her RE investments then, she was a realtor, working for the top broker in the entire southeastern part of the country at the time. I told him the same thing. I sold without a realtor to the first person who walked in the door, the quality was way above other homes. I saw what happened in 82 in MA, and this will be the same. She lost 1.2 million, he lost his broker bus.. Prices will not rise if we have inflation, IMO. People can't afford the house insurance and taxes going through the roof there, RE will fall. When people lose jobs, RE will fall, it hasn't even begun yet. My old house just sold for 782k, only a fool would pay that. There is no room for that house to go up from here. It took 20 years to go back to the price I sold it. I'll buy again in Fl after the crash, did the same in 4 states so far.
@@floridarealestatetv The last time we had real inflation was around 82, houses in MA crashed into the dirt. Moms house went from 160 to 20k. In real inflation times, RE does not rise with goods for more than a few years. It's simply not affordable at some point with everything else going up. Had a similar discussion with the top RE economist in Florida from 2003 to 2008. He worked for UCF. He was on a blog in one of the W Coast papers. I told him late 05, the market has peaked and 2 months later I liquidated everything at massive profits. He laughed at me, saying this time is different, mainly because of growth. You can imagine how I abused him and his 10 year education in 08. So bad he never came back. Two places in Florida where I will buy is losing 10k every few months now, already a few foreclosures. And this isn't taking into account any more hurricanes hitting.
@@floridarealestatetv Lol at deleting my reply's. Gotta love realtors.
I have no problem paying the mortgage. My problem is I can’t afford a $430,000 home because I don’t make $166,000 with my significant other. We both went to college and got jobs in our field. We still don’t make a shit ton of money.. why should I give somebody 7 1/2 if I can’t afford a house that’s expensive. I’ll give you half if you give me a 200k home!!
This is a real problem indeed. Everybody is saying the wages haven't kept up with the cost of housing. It's been happening for decades, and somehow people keep buying! Crazy
@@floridarealestatetv that’s a fact the math ain’t mathing
@@dp-mcfly5158
properties can be bought by companies not solely by individuals. So of course "people" will always buy because these real estate companies have unlimited money are have destroyed America from within.
Climate change and rising sea levels will make properties in low lying areas and coastal areas impossible to insure. Banks will be reluctant to give a mortgage for 15 or 30 years because the property may be under water. Selling properties to average buyers will become impossible in the future as banks and mortgage companies stop making loans for these properties. Coastal areas are a high risk for insurance and extreme weather like hurricanes. People will have to self insure and take the risk of loss. Condo associations are losing their insurance and if they find a new higher cost policy they will be passing on the higher costs to association members. Flooded cars from hurricanes were filling the salvage lots. Insurance companies will raise rates and pass on the costs and risks to policy holders next year. Coastal properties will be confined to wealthy individuals that can buy properties with cash and self insure for losses from hurricanes or rising sea levels.
If the sea levels rise year over year, then we will have a LOT of problems on all coasts... not just the US.
Don't be ridiculous. I've lived by the ocean for 47 years and it's the same level as it was when I was a child.
@@philanders3705 They always try to scare us with something with the environment. The rising sea level was the scare of the late 1990's. I've lived in Florida too long to believe it anymore.
@@philanders3705 So the streets of Miami flooding more frequently is just an illusion.
@@floridarealestatetv Many island nations are voicing their concerns.
You're copying Michael Bordenaro, dude
He's 100% negative. But yes, I do walk and talk. If that's copying....
@@floridarealestatetv Only a fool wouldn't be at this particular time.
Go Maciek !
Thanks
..." you keep renting and blaming everyone else for your problems..." - well said !
Haha. It’s my honest opinion!!
It’s not well said. He’s very out of touch with the average American. Not everyone has the money for a down payment. And down payment assistance only widen the financial burden. It’s not as black as white as he tries to make it seem. And when your down payment is low, now we have PMI to add on forcing the buy to spend EVEN MORE money they already don’t have.