Redfin: Housing Market HELL | Nothing Last Forever
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- เผยแพร่เมื่อ 29 มิ.ย. 2024
- Redfin: Housing Market HELL | Nothing Last Forever
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We need to go back to normal prices. If people quit buying overpriced houses then prices will drop to normal prices.
Exactly
Many of those houses were bid up in price by buyers with money, desire, and desperation to leave the cities. Not based on value. It was an illusion, and it's time to come back to reality.
People have. Its not the ordinary person buying these houses. It's corporate buying them
Who are "people"?
Investors have endless piles of cash. "People" don't. So what?
@@akingn8858people have not. loads paying cash for houses just not as many causing bidding wars. ALL people need to stop but many are running from their broken states.
The company I work for furloughed another 180 employees on Friday. That's the second round this year.
What state?
A buddy of mine has watched her entire department disappear, and she is the only one left.
Just chilling waiting for the collapse 😎 Travis keeps us calm and focused while waiting. These realtors are like used car salesmen...BONKERS!
Steadily waiting. Rather miss out on my dream home than over pay 180k for it at 7%.
It HAS collapsed.
The dollar is worth LESS.
Housing in NOT worth "more".
This is the difference from 2008. Nothing is "rising" in price. Fiat is COLLAPSING in value.
@@ehiwe18 Better to miss out than get buried because of FOMO.
Median is 100% being skewed by more higher priced property selling. More $1m properties that were listed at $1.5m are selling. Higher price cuts higher price points and the top 1% still have cash but at the same time not much property sales below 500k since those are all actually 250k homes.
Happy Sunday, brother! Hope all is well.
@@realestatemindset Happy Sunday Travis... All is well on my end down here in spiking inventory Orlando Fl. Hope all is well with you and the family.
That's the issue I'm having in Vegas you will not find any new builds property in the median price range they are all around $150,000 more. Put a weird pressure on the resale market and is skewing appraisals.
I am renting and waiting to buy when prices correct, hopefully it happens in the next 1.5 years..
Social Media is a huge reason for the uptick in irresponsible spending. For some people the perception of success is more important than actually being financially stable.
I wouldn't call price increases winning. If you own the house you occupy and it went up in value you are just going to pay more in taxes.
I always appreciate the information you give in your videos. The one criticism I have when dealing with realtors is the narrative “if you’re serious, you will offer more than asking.“ I remember the first time I heard this, it was the late 1998 in suburban New Jersey. No offense to any honest, hard-working realtors out there - but when some say lines like that, they are just as bad as the banks who give loans to people who can’t afford the house.
When I’m ready to buy, if I come across a realtor like this they will be fired immediately (or if they’re a sellers agent then I’ll move on to a different house).
@@thomasfrederick71 Good for you! Everyone needs to do that. This is how the bidding wars go insane.
We recently put an offer on a home in Merritt Island, Fl. My wife and I spent several hours doing neighborhood price analysis, cost per sqft as you advice, and even expanded the comps to a broader area all in an attempt to try to understand the high asking price of the home. The agent sent us four comps which were already on our list. The agent even stated that the comps don't line up because the seller didn't know how to list their home due to some work they have done over the past 2 years. What we got back from our agent was the most inflammatory, finger wagging /shaming email response I have ever gotten in my entire personal and professional life. Hint I was around before email, so I have gotten a lot of emails. We shared our comps spreadsheet that had embedded links, original list, sold date and selling price etc. We like the house but are completely turned off to this process. We sold our home 3 months ago so we know what a dignified transfer looks like thanks to the professionalism of our agent in Tampa.
Fire that agent!
@@mike-uw6wt We did. We probably should have said something to her but we did not dignify her last email to us with a response.
I live in Merritt Island and everything is disgustingly overpriced. I fired my agent since I was so sick and tired of her harassment and lies pushing me to purchase something ASAP. There are 6,000 homes for sale in Brevard, some of them listed for the past year or even longer. I am already seeing properties purchased in the past 18-24 months listed for sale at a loss. However I feel like it’s going to take longer to correct or collapse compared to 2008 since a lot of these houses have huge equity still.
My neighbors just sold there house and are very upset with there realtor as well because he basically shamed them and rushed them into accepting an offer.. they didn't feel good about the outcome.. you are totally right about the censorship.. you take that negativity like a champ Travis!! But your supporters know you are speaking facts and warning us!! And we appreciate you for that!
As of yesterday, 54% of the listings in the over 55 community I live in in Denver had price reductions. Listings are more than double the number last year.
Heather Gardens?
Rock on brother. I always enjoy your content.
Congrats on hitting over 100k subs!
Thank you sir! Happy Sunday!
Thanks again Travis…luv the info ❤
🎉🎉🎉 Awesome video Travis 👏👏👏 This was a very interesting video today.
Thank you Sir,Carlos
Great commentary, as usual, with facts and references!!
Happy Sunday
Love you my dude. It always gives me a good attitude when I see you buddy. Thank you for all the support. Did you file your homestead??
Have you noticed the Data Center construction and broadband infrastructure going in at an alarming rate? This my friend is what we need to start worrying about...Something big is happening
They say whoever controls the data controls our minds. Be careful my friend.
I've worked at carrier. The amount of infrastructure going in year over year has been over 100% for decades now. Not for certain why you'd be concerned now, but not 20 years ago.
Quantum Internet is coming and it is going to make 5G look like dial up.
I work at a data center as controls engineer and yeah data centers are popping up everywhere. Big tech companies want places to store their hardware
I am an IT guy and my prediction is that there is good demand for colocation data centers. So most of the datacenters might be occupied if not today then tomorrow.
I appreciate how you hope we win. There’s a lot of negativity out there these days, and it’s nice that you end on a positive, hopeful refrain.
I’d been saying this for almost 3 years now real estate is local. It’s supply and demand. If you notice San Antonio is down 2% with crap load of inventories and San Diego is up 11% year over year because San Antonio has so much land not surrounded by ocean and builders are actively building. I’m in San Diego and south is Mexico and surrounded by ocean. My brother in law just bought a short sale move in ready for 300k and house was appraised at 400k. In San Diego good luck finding a deal with equity. It may take you years and if you do find house with 25% equity by then market probably up another 50% from today and it’s a fixer.
Also San Antonio has 1.47M population with over 13000 inventories compared to San Diego with 3.5M population with 4k inventories
Can we please figure out what’s going on with the housing market in New England? Hartford county in CT specifically? Just got out of the military and I’m priced out of moving my kids back home
Thanks for your service! I hope prices drop soon for you. It is completely unaffordable in most states but I am seeing home prices dropping slightly in my area,so it's only a matter of time.
The housing market, you might as well be talking about beach resort condos on Neptune.
LOL. Jay, things will change and turn as they always do. Society is even more clueless and reckless than the last bubble and this time we have a double bubble. I don't want to scare people but I think the people who are bullish are absolutely out of their minds. The inflation is really making things more prolonged.
The New Rich is coming 🎉 you Can smell the money in the air 🤤 Cash will Carry as it always does 🎉
Bonkers.
Was in hunt earlier in year. Ended up signing another lease at current house that's 700$ less a month then mortgages around me. Cibolo tx Try again next year
Love the silver play button! Congrats, Travis 🎉🏡😀
where can you find comps? aka actual selling prices if you're not a REA?
Too bad for me, Maine is just not building the necessary houses it needs to get outta this low stock issue.
ABSOLUTELY BONKERS 👍
Steve! 100% BONKERS!!!!!
Home prices are going back to 2012 prices which means a 50% decline.
Way too much Texas stuff.
It’s “new irk”, not “new ark”.
Summer 😎 price declines in some areas are bonkers!
I just recently showed a new Construction 1 bed 1 bathroom home listed for 175k. The house is pending. Do you think more builders/developers are going to shift to smaller houses under 200k?
That depends on the metro area but overall I do think they are making smaller homes for sure, compared to 15 years ago.
What area is the 175k house?
Thanks for responding, I would love to see you speak on Fayetteville, NC. The military drives our market with a mix of people who sold their home up north and making cash offers. Builders are having a hard time selling new construction in the 300k range. Also do you have any data on Red door homes?
Patience is a virtue 🙏
Wise words! Thank you!
Prices in Az keep going up! Its ridiculous.
It's called "hyperinflation".
I don't have a crystal ball, but there isn't a single person who has addressed this elephant in the room with any kind of satisfactory answer.
Everyone just screams "It's gonna crash!" WHAT? WHAT is gonna "crash"?
Let's answer the question right now... Legit!!!
🎉bonkers
I stand with Travis since he stands with us trolls. #Travis2024
buyers are few and far now
So people who disagree with you are trolls?
The money in Real Estate Market has already been made..
Define "money".
Is hyperinflation "money"?
A lot of neighborhoods in Gilbert Arizona, especially the cluster type Homes are back to 2021 prices.
😂 120 PSF I wish. 400 PSF by me. Agents allow bidding wars.
Your heading should be edited: *lasts vs last
The Clearvalue dude was bragging how the median price INCREASED. He was so happy to be right 😂😂😂. He thinks the houses increasing 200% is due to inflation , nothing else. Forget that salaries or materials have not increased that much. Noooooo, speculation and bubble behavior cannot happen again EVER, after 2008. Therefore we have to swallow the pill and accept that HIS house is a pot of gold and you missed the boat…. I immediately thought that this median increase was due to the fact that the balance has moved towards more high end houses selling (proportionally)than before, due to these luxury houses getting the largest reductions. This dynamic distorts the median.
Yeah. It irritates me too. Hang in there. I'm hoping we have our day.
It’s NORK, not New-Ark 😆
GnR - November rain (ft BONKERS)
Good morning Matt!
The crash is coming, just wait for it! 😂
Watch THE BIG SHORT. The crash in 2008 took way longer than it should of. It’s gonna happen right before your about to throw in the towel. Be patient.
Bonk
YES SIR!!!
Travis whatever happen to your house you had made an offer recently update on it please 🙏🏽
You're still destroying the pronunciation of "NEWARK" 😂
Algorithm
BONKERS!!!!
Absolutely BONKERS
L G B