The real problem with real estate, according to an economist
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- เผยแพร่เมื่อ 24 มิ.ย. 2024
- The housing market continues to deal with affordability challenges, prompting the Biden Administration to unveil new initiatives aimed at addressing this pressing issue. However, in an exclusive interview with Yahoo Finance, US Secretary of the Treasury Janet Yellen tempered expectations, emphasizing that "there's no silver bullet" when it comes to solving the housing affordability crisis.
To gain deeper insights, Middleburg Communities Chief Economist Brad Case shares his perspectives on the ongoing affordability dilemma affecting US homebuyers.
Case highlights two factors driving the current market dynamics: first, the surge in demand is pushing home prices higher; and second, the Federal Reserve has "limited" impact, noting "the solution is really at the local level."
"If you bring down interest rates, all that does is make house prices go up more and that wrecks affordability," Case explains, advocating for a different approach: "What you really need is a moderation in house prices and the only way to get that is supply growth."
Watch Yahoo Finance's full, exclusive interview with US Secretary of the Treasury Janet Yellen.
#youtube #news #realestate
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very promising
Prices are up and nothing is selling. Bad sign.
No one wants to pay 10,000 a month for a two bedroom apartment. They kept building these luxury apartment buildings instead of actual housing. No one is being because housing is no longer an investment because no one wants to buy it due to high cost. When the investors don't even want it, you know you have a real problem.
@@felixthecat2786 real estate investors like myself have completely left the market, and we wont be back until it makes sense again.
@@nickvin7447 Good. The people buying should not be investors anyways. It should be couples and families.
@@RajDeelish Couples and families are not special. Items are for sale for EVERYONE, if you don't like it, make more money.
Bunk. If nothing was selling housing prices would drop. Too many people not enough homes, as illegals are a major contributor to that. They take a home away from an American and crest a lot of demand for housing. If you voted for that side, you really have no right to complain about high housing costs.
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Yes we want smaller cheaper single homes with no HOA
Ever ever think about going into a house half-and-half with a partner that doesn’t pay any rent but keep shaking you down for money? Who would do this you ask?
Any one that joins HOA is doing this.
Guy with the glasses is gaslighting. There is demand for “affordable housing” no one wants to rent or stay in expensive luxury apartments. We have plenty of houses they are just tooo EXpensive, which is the point. Has anyone not played Monopoly?
“Housing for regular people”. In my town there were “Knock downs” or 1200sf homes purchased to knock down and build 4 or 5000sf mc mansions. Pre GFC these peaked at ~$1.7M then after GFC nothing was built for 8 years they had just started doing some ~$800k homes then BOOM! They knock down 4 to 6 homes at a time to build one $17M home on spec. -and it sold!
What happens in a downturn? What does a town do when it is surrounded by unaffordable homes?
There’s no “preference” for renting a single family house, there’s just no other option because it’s so expensive.
Not true. Renters are in for a rude awakening when they need to do their own repars and maintenance.
We rather have affordable Taylor Swift tickets than housing. Please tackle the important issues first. The average person doesn’t care about cost of living according to our representatives.
An irrationally exuberant investment mindset among home buyers. That's the problem, plain and simple.
My prediction is that dropping interest rates 1% would do more to free up supply than increase demand.
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Are the home builders price fixing? Inventory went up and prices also went up.
They are price fixing. There’s an app for landlords that uses an algorithm to maximize profit. The reason it isn’t collusion is because the landlords aren’t talking to each other but rather letting the app set the prices. Is collusion in another form.
No. Materials and labor also went up due to inflation, so home prices have to go up, regardless of inventory, or they would be making homes for a loss.
Cause greed and bozos over paying
Home prices are insane a doctor the other day told me he bought his first home in Santa Ana for those who don’t know it’s ghetto af we don’t stand a chance at buying a home smh
Why is it so difficult to understand for some that if 80% of dollars in existence were printed since COVID then a double on housing is the least they should expect
Simple answer Fed buying MBS @2.5% interest rate.
That's exactly correct. You never hear any elected official or the financial media calling Powell out for that though.
Why is no one asking a builder what it costs to build a new home?
Lowest for cheap houses would be 150k the highest would be 300k+ if you ask me it’s the houses nobody wants but they are more likely to be good for temporary tenants
@@kjahmbanso Sounds like you are out-of-date. That’s what they were in 2019.
@@skyak4493 it depends if I drove that up to 350k minimal that’s why nobody can afford to buy them since it’s double that once it’s build because we talking about regular 3 beds 2 to 3 baths
Key is to build affordable housing not 500k+ Cookie cutter homes that we see, who is going to buy them?
Nothing I hear when talking to young people without houses indicates they don’t want to have houses. What we do have this companies like Blackrock that manage peoples pensions that want to extract rent from young people as the economy shrink as a result of fall ing populations all over the world(I know the same people told you there was global warming also told me there was too many people. It’s going to be hard to believe either in a couple years.) bottom line, no one wants to pay rent that are twice with their older counterparts are paying for mortgages no matter how you spin it. It’s only good for real estate investors it’s not good for family formation, which is necessary to get the population back up, which is necessary if you want to maintain the economy at the level, it is now in the future.
They didn’t want houses when they were giving them away for 8 years after the GFC! That was when BlackStone stepped in to buy what was being auctioned off. They were right and their risk paid off double digets while the FOMC was holding real rates negative!
Now homes are increasing again and every bozo in the world can make 10 cents a click creating conspiracy theories about how good smart millenials were cheated by by dumb old people and “Wall Street”.
It is a HUGE world and there are houses rotting all over it! The young just all want a big leveraged bet on a place that is going up.
Look at every place in the US where housing is over 8X median incomes -then look at all the Air B&Bs! Every one of them is a household displaced, and all to make a few millennial billionaires!
Thank you for the infomercial on why it is so much better to rent Mr Middleburg Communities… Cui Bono?
Ban hedge funds from buying single family homes
Hedge funds don’t buy single family homes so that would be a pointless ban.
@@MichaelChengSanJose Serious??? By last March (the most recent data available), hedge funds accounted for 27% of all single-family home purchases in the United States. The good news is Democrats have introduced a bill in both houses of Congress to ban hedge funds from buying and owning single-family homes in the United States.
Any answer that isn’t flippers and investors is the wrong answer
The United States government is allowing private equity to manipulate the home prices. Janet Yellen said the government could come up with a program to build these homes, and private equity would buy them all up before you even here about them...
Yep, every time idiots come out to say that the housing market is unsustainable, they’re proven wrong again and again. We’re no where near the unsustainable financing that drove the housing bust of 2008.
Housing prices are insane, but they’re covered by huge waves of cash. Few people are getting homes for 0-5% down as was common in the 2004-2006 housing bubble.
Yes, housing in distressed areas like Phoenix are not going to do well with climate change and will see huge migration out to safer areas, even if they’re far less affordable.
The existence/involvement of Realtors and NAR is the real problem with real estate. Unnecessary commissions to useless/uneducated agents skews home prices and flawed CMA’s skews home values.
Save your money and hire a flat rate real estate attorney who actually knows the law and can help you.
He’s right about the development of housing driving up the cost of such a point where they only make houses for rich people. There is also a flood of money from Third World countries with a rich in those countries want aHe’s right about the development of housing driving up the cost of such an point where they only make houses for rich people. There is also a flood of money from Third World countries with a rich in those countries want a stable place to dump their money in the US has been that for years, though that may be Changing as it seems to be with Canada. Let people put whatever kind of insulation on their house they want and let them heat it with whatever they want to heat it with stop driving up the cost of roofing by Greeney policies and the cost of building a house will come down and they can actually afford to build a starter home. You can’t do this when land prices are hundred thousand dollars for a quarter of an acre value to get a return on investment to make it work since there is limited land in cities
End form 1031 exchange.
You will flood the market with houses 🤷♂️
Build less expensive housing, both apartments and single family homes. Drop governmental fees for housing NOW!!!!
Housing prices are directly correlated to inflation. The house is actually no more valuable than it was 70 years ago when you account for inflation and your account for the fact that modern homes are actually built better and have more amenities in them.
True for structures but urban land is inflated way up!
What about Wall Street buying all the houses?
Not a real problem
Warren Buffett smashes the poor
Warren Buffett squeezes the poor until they can no longer afford to own
I don't think Warren Buffett cares much about you and me
Cares about money money money to hell with altruism
He's a bad Samaritan
Hedge funds are the real problem...ban them from buying single family homes
@@bobbyward2440 Wrong! By last March (the most recent data available), hedge funds accounted for 27% of all single-family home purchases in the United States. The good news is Democrats have introduced a bill in both houses of Congress to ban hedge funds from buying and owning single-family homes in the United States.
1. To keep the boots of the rich on the throats of the poor.
2. Because rentals are plantations 2.0
3. Because the American dream is not the plantation of the pampered class
4. The wealth gap would disintegrate if we could all use our rent money to become owners.
I can go on
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She has no clue!
The problem is not a problem at all, but good sense, the older generation recognizes; owning a home is a smart store of value, versus; intangible stock or bonds that lose money and crapto that is but a wish for easy money. Yes, when interest rates rise, it is intended to slow the markets and that is just the way the economy is supposed to work.
He actually gives zero advices, all he talked about are we already know lol
So in summary, we will own nothing & be happy....and eat ze bugs
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Why everyone is talking about xAIGK?
When you see these weird posts it is all people working together scamming money hoping people will go to their named advisors and send money.. not sure who actually falls for this. But on your post here lots of people will start explaining what it is and how to buy it.. and they will list someone's name and how trusted they are and so on. It gets old
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Can anyone explain xAIGK?
xAIGK is still extremely undervalued
SCAM BOT!!!
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My investment portfolios are Bitcoin, ETH and xAIGK
To build because of unions, to rent because of gretty lanloards. Tax empty apartments and properties.
Southeastern real estate is being driven up in price by people abandoning the expensive cities. The expensive cities are expensive mostly because of immigration but certain California towns because of internal migration driven by technology companies especially San Francisco. Where you don’t see mass immigration you don’t see massive housing costs, they just snuck 1 million people into the country to prevent housing prices from tanking as the boomers start to die off. They don’t want you having cheap housing because it would make their bank go insolvent that immigration also drives down wages as well as housing cost. There are plenty of things like , cost of materials in houses and other building cost based on regulation that are driving the cost up, but if you look where the cost are growing up the most it is in the major cities or in places where people are fleeing the major cities. Show me I’m wrong . I’m not dissing immigrants. It’s a simple supply and demand proposition.
They should make a law that bands corporations from owning any rental real estate with less than eight units. This would stop them from buying up all the starter homes and guaranteeing that half of the millennials never have kids which will guarantee our economy tanks. Yes it will tank and will not be able to recover because the next generation will not only have to have 2.1 kids each, but they also have to have extra kids to make up for the previous generation and the kids at the previous generation would’ve had. The further you go down the road the harder it becomes just to get back to maintenance level population. go look at the countryside of Italy, which is full of empty houses or East Germany where they’re literally tearing down the houses because they’re all empty and you have Wolfpack taking over the highways. The problem is we’ve lost the baby making end of our population demographics, and once all the old people start dying off, you’re going to see how few people they’re actually are because the ability to reproduce those people for most of the world has already gone away. It is not too late for America, but it’s getting . places like India will have 20 or 30 years to change course while they watch what happens to Asia in Europe and most of Africa surprisingly. If you want to be part of the future, you have to show up. If you want social safety net like Social Security and pension systems you need actual people working providing products and services to put into that system and robots cannot consume. Capitalism does not work under a robot system as anyone will steal the technology to build their own robots and have all their production built on their own. Would leave everything alone 150 years everyone would probably grow their own food in their basements with farm bots and their clothing and their 3-D printers. Central isn’t going to let that happen central bank digital currency way to control you and enslave your children forever. Don’t forget to read the book book of revelation and Ezra 213.
There is no affordability crisis!! There are plenty affordable homes!! You just have to move
Build "cheap" housing with piss poor quality and you'll have "worthless" housing.....kinda like todays cars that are all junk after 5-10 years
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I've just looked up his full name on my browser and found his webpage without sweat, very much appreciate this.
I am sure that xAIGK will go 100x just like you said
money went to Ukraine instead of homebuilders !!!! imagine that
USA is benefiting so much more than Ukraine... I don’t think you understand what you are saying. Probably just repeating someone’s talking points
HIGHER PRICES PLEASE!!!!!! Cause I already have a house. LOL, why are higher house prices always Bad News in the media?? .. for 1/2, it's GREAT News!!
Interest tooo high
Bought xAIGK at 1$, I will keep it until 2025 when it reach 250$