There's a large disconnect between what I'm observing on the ground in Florida. And what the aggregate data is saying. Many listings are now showing huge 30% drops. But aggregate price levels are only down 5%. Suggests to me we'll continue to see a worsening in the reported price data from Zillow/Realtor in future months and quarters. Access the data for your city and ZIP code on Reventure App: www.reventure.app
How does the corporate owner like INVH insure the tens of thousands of homes they own in flood/hurricane prone areas? And what effect will an event have on their stock prices?
Do you know about Co Star who owns loop net and ten X and others ? Would you consider commercial data and sales related information regarding property and businesses?
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
❤️Success is not built on success. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life...🇺🇸
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
The house for 336K is probably worth 220K. Still too much. House has to be sold at a price people who live in that state can afford to purchase. Otherwise the property is overpriced. And once you add in the insurance problems in Florida....much of the state is overpriced .
Home insurance and mortgage rates are way higher than 2019, before the pandemic. Incomes barely moved. Prices have to go way lower than 2019. Usually overshoot on the downside.
Try $190K. Those houses are basic and mostly garage. I work in an industry where, for four years, I've been trying to tell anyone who would listen, to wait. Just wait. Don't rush to buy.
@@Markham12thcentury I think we are headed to a bad recession or worse. $5T Covid money fed to Wall Street mostly, drove asset prices including housing, stocks, etc to unrealistic super bubble levels. In some areas house prices 3x 2019 prices. Most used borrowed money. As usual we are likely to get another crash.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I'm 55. If there's one thing I've learned in business and investments, it's this: It's easy to buy stuff but not so easy to sell it when you want, or need to.
Absolutely true. Usually, it's at a loss. My wife needed to learn that. She spent 30K on rocks, oils and all this crap. Oh, and $800.00 on makeup. Just to have it all sit in bins (In Florida heat) in the garage for eight years.
doesnt help that boomers bought these houses for less than a years salary in the 70's are are expecting 10x the average annual income today. Just because a house is valued that high, doesnt mean its worth that much. There are a bunch of factors unique to florida that make home ownership more of a liability than an asset. Insurance prices are through the roof, and most homes are nearly uninsurable here, and thats a HUGE liability with the threat of hurricanes.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Even with 50% price reduction, the Ins., Tax and HOA fees will inhibit the middle class from buying. Of course, the investors will pressure these entities (lobbying at the State.Local gov. level) to 'give them a break' so they can continue to hold the inventory at a lower cost than a real, middle-class buyer would have. Its all a giant rigged system... you will never really own your home in the US as the men with guns can come and take your property if you don't pay the evver increasing tax, ins. hoa costs. "You will own nothing, and you will be happy".
@@intentionally-blank The insurance prices aren't high because of hurricanes or climate change like some people would tell you. It's due to insurance fraud. Unfortunately, insurance fraud is much easier to commit in states like Florida and California due to the potential natural disasters. People in Florida for example are told, "You deserve a free roof, there's a slight crack in one of your shingles!" and they sign a paper that signs their rights away and the insurance company is forced to work with the fraudulent salesmen (who are now representing you). The same insurance companies that have left Florida have also left California. Hurricanes aren't killing more people or becoming more frequent (Florida hasn't even had a hurricane yet this year), insurance fraud is. It happens across the country but unfortunately it's a lot easier to do in states with "crazier" weather such as Florida or California.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
people on average make about 30k to 50k a year in FL, so even house prices being cut down to 300k is not enough. We need to start seeing 150k to 250k price ranges
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Yep The insurance costs in Florida are higher than my mortgage in Georgia. I suspect Floridians are lowering prices just to get out. The property taxes are another problem not to mention HOA. Good luck to all of you and I hope you can get out.
Yep, home prices need to drop by alot because the current prices compared to wages AND inflation is way out of balance. People simply can't afford the PRICES of these homes on top of all their other monthly expenses, it does not matter how much you cut the rates. The prices need to go down. Utilities, HOA's, insurance, property insurance, groceries, car payments, credit card high interest rates, ect.... are MONTLY bills. People only have so much money to shell out every month. Our wages are WAY behind the cost of living. Things need to come into equilibrium again.
oh wow, so guys, are you telling me that an asset like a HOUSE, a TANGIBLE ASSET, A LITERAL SLAB OF BRICK/WOOD/AND OTHER MATERIALS, does NOT appreciate 100% in less than TWO YEARS?!?!? no way!! I would never have imagined!
I remember the cops arresting and giving this young guy a DUI for driving his golf cart two houses down. Yes i know its illegal, but its like... FL is a "vacation" state and you need $ so bad, you're gonna give someone a DUI over that? LOL what a joke!
It's not just greed on the part of sellers, even if you pay cash for a property the realtors get their 6 percent every time the house sells. All those commissions are passed on in the price.
Remember if the values drops 30 percent it take a move of more than 40 percent to return to the former values. Sometimes it’s hard to envision that. Do the math
To be honest, they can drop the prices by 60% and it won't be enough. Median housing needs to roll back to under $200k. I'm in Tampa Bay, where the average household earns $70K per year, and the banks require a $106K income to qualify for the AVERAGE priced house. If that's not an enormous bubble, I don't know what is.
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
A 40% price cut can still be too expensive, not to mention the fraudulent property taxes on many of these places is absurd, that's not even including HOA and homeowners insurance. In many cases you could give these homes away and there's people that couldn't afford it.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Thanks for discussing Vegas. I agree that prices will not drop in the next 3-4 months. Likely the next year will also see no price drops. We just need much more inventory to get movement for people to relocate. I have been waiting for a couple years now and it looks like it'll take a couple more.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Exploring new investment opportunities demonstrates your proactive stance towards financial growth during these volatile times. Diversifying your portfolio can play a crucial role in effectiveIy mitigating risks..
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Adriana Catherine
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
@@AnonymousPerson0182 no but I found affordable housing. Now they moved the goal post to yeah it’s under 200k but it needs 100k worth of work. Some people you just can’t win.
This is a bad thing? It just shows how wacky the whole thing was. It's an auction market, when prices rise to levels where bidders stop bidding then prices will naturally fall. There is no magic here. All markets correct eventually. Bubbles don't generally end well. A few years ago, it was Tulip Mania in housing, this is just a natural reversion to the mean to more sane levels.
The big problem is that these home values inform the debt & risk levels of our core lenders, which influences how every sector of our economy functions. So when these values tank, productive businesses won’t be able to get loans our economy depends on. Losses to institutional investors will be reflected in stock values. This will compound the rate of decline, with additional downward pressure from owners who bought homes on Securities Backed Mortgages. These are free money when stocks are up, but essentially are infinitely variable interest rate loans. It’s going to fall HARD when it goes.
It was irrational exuberance propped up by a speculative bubble. We were told that homes worth 200k were suddenly worth a million dollars, and we believed it because investment firms with deep pockets were willing to bid prices up to that level. Now reality is just setting back in.
@@benclemens8370 Agree with your big picture assessment but to get back to more normal historical levels things have to correct and when things correct its going to be painful for investors and the economy. Kicking the can down the road only makes things worse when it actually happens.
What about the gold market?? Wall Street can keep these market artificial high as long as they want to they just see no profit in it anymore and are bailing.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Great video. Very informative. We are relocating to SW Florida in December. We have land and want to build next year. We are keeping our house in Vermont. This was a helpful video. Thanks
Something is definitely up. Drove around Austin today and noticed businesses that have been around since I moved here in 2002, closed. Very eerie feeling in some parts of town.
In San Diego. Listing prices still amaze me. Tiny hoarder house, near freeway, small lot, bad neighborhood, priced over $600k. Price reductions after crazy price increases. Crime is up, homeless everywhere. Insane.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Im 35 san diego refugee living in the menifee/murriets area. I look at your videos because your informative and super resourceful with the data you give out. I will continue to follow you. Keep doing you!
I live in Vegas, and have been on the fence about moving to Sarasota Florida for it's gorgeous beaches and palm trees. I still like Florida but a recent trip reminds me how miserable it can be during the summer seasons. If the intense humidity, hurricanes, flooding, bugs, and reptiles don't kill you the insane HOA, CDD, insurance, and property taxes will. Maybe that's why it's crashing hard there.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Wiezorek.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
I live in Austin TX and just saw a home selling for $559,000 15 months ago asking $399,999 last Friday. Austin is crashing so fast it boggles my mind. Think about it. Google, FB & Oracle have all pulled out or soon leaving Austin. All the wealthy techies are selling their homes and are now lucky if they will break even. So way more inventory than buyers. Plus rentals also dropping big time. No builders could have ever predicted that the largest tech companies in Austin would be leaving. I am waiting for Austin to drop another 20% before I pull the plug. Luckily I am a cash buyer but if stock market has a correction, I may pile all my cash back into market to make another 20% if the time seems right.
@swagic8452 your biggest mistake is trust the value of the dollar itself, which lost 20-25% of its value in the last 4-5 years. The dollar will not last forever, no currency has and none will. If you look at all the major crashes, it's taken multiples to fix, and the next I predict based off the current velocity of the dollar will cost $50-$100 trillion dollars, and the inflation that money printing will cause will cause hyperinflation. The poorest in America will be millionaires, middle class billionaires, and the richest will be trillionaires.
Great Video! You might want to interview the sellers and ask them what has happened and how the realtors are explaining this decline. Interviews are fascinating.
Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. Thanks to Stacey Macken, the lady that changed my financial life.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well
Stacey Macken is a retirement manager and investment/savings expert, in ranks with Cathie woods and Warren, has demonstrated expertise in investment strategies and has been involved in managing and providing financial guidance globally
I remain eternally grateful to Stacey Macken for her efforts that got me to this point, finally payed off my mortgage and all my debts, what more could I've asked for. She changed my life.
In GFC, it took a full 5 years from peak to through in the real estate market. In most real estate markets the peak was mid-2022, including SWFL. The earliest we'll see a buyable bottom in real estate will be 2026, but more likely it will be 2027. In Cape Coral, I am still seeing asking prices of $500k-$600k for houses that should only sell for about $300-$350k, so, IMHO, we are still pretty far away.
Exactly. There are going to be a lot of people catching falling knives thinking they're getting a deal and then will lose all their equity as the crash continues, maybe even go upside down and walk away.
@@WhyteHorse2023 There is and will always be a baseline buying demand, because there will always be dumb buyers and those that are forced to buy. For example, investors doing like-kind exchanges looking to avoid triggering capital gains. Make no mistake, however, demand for housing in SWFL is in free fall right now. In the Cape Coral/Fort Myers/Lehigh Acres area I am seeing asking rents down 20% plus YOY and home valuations down 7-8% YOY. Home valuations in total are down about 15% from their mid-2022 peak.
My area is still ridiculous. I see a lot of the newer people are trying to sell and have been on the market for a while, some even years. It looks like a lot of places were built in 2021 and people paid over a million for them. Well, the wages here and those prices do not match. Hope it was your forever home or you don't mind waiting several years for some out of state person to buy. The only really expensive things that usually sell are business places. Like there is a horse ranch that is an active 30 acre ranch for $4.8 million. That will sell only because it's a business with home and also a lot of money invested in the event/training facility on site. There's also enough stalls to rent out and so forth. The rest of the stuff is downright delusional in price. I'll give you an example of how delusional the prices have gotten around here. 5 bedroom 4 bath 3401 square foot home on 5.72 acres built in 1975. In 2020 the home was $364.3k. They are currently asking $1.3 million. Says the days on the market are 52. It's nice but nothing special. How on earth does anything skyrocket that much in value over 4 years? The answer is that it doesn't. Most people leave after one winter because they can't handle it. So, there's that on top of everything else.
Ya that's the kind of BS I'm seeing too. A house that was like 400k 5 years ago is now 1.4 million. Nothing special at all. I wouldn't even pay 500k for it. Yet somehow they still seem to be selling. I don't know who in the hell is dumb enough to pay that much, but apparently they're out there. I continue to hold the stance that I don't see how this housing market can't correct at some point though. If people simply can't afford it, how can it not correct at some point when the money runs out?
I hope prices drop.. I have family that lives in shittsville Kansas and prices there are insanely high. Shittsville is not a good area and still overpriced..
The false low inventory narrative had been going on since 2017 and maybe before then. As the pandemic gpt worse the housing market lies got put it on steroids, because buyers back then were willing to pay anything to get out of their cramped quarters. It was pure lunacy!
I signed a contract on a new construction home and placed a $5800 deposit with a price of 580K at 4.99% just a couple months ago. It'll be finished in December. This was before all of the home prices started falling. Now I'm scared to death It'll be worth 350k in 3 years.
It's Market dependent. You need to look at your specific state,city and zip code and neighborhood to see what the houses in that area are doing. Be careful listening to this TH-cam channel a lot of the stuff he's selling is fear p*rn and he Cherry picks listings that were way overpriced and then the seller realizes nobody's going to buy their house and they keep lowering it until it hits the true market value. And then this TH-cam channel says look they decreased the listing price. Housing prices are going to crash
As a Florida resident that was born here, this is more of a correction than it is a crash. The average earning Floridian has been priced out of the market since the pandemic. Prices have been dropping but homes here are still overpriced. I personally love looking at the sale history on the Reventure app. That tells the real story.
How many of these homes are second homes? He mentions seniors and real estate investors. But many of these are empty half the year. Insurance etc costs are up. Not seeing this everywhere in Florida
Native Floridian here, too! I look around at the home prices and wonder how anyone can afford anything with the average income in Florida? Even with a six figure income, it’s still going get you a tiny older home in a sketchy area that was just a few years ago attainable to almost anyone. Homes have actually doubled since the pandemic, but not incomes! It seems completely impossible for the population to survive living here under the current circumstances.
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Jessica Lee Horst for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
@womblestacker7993 Stay out of the HOA, solves that problem. Property tax is similar to most northern states, so no real appreciable difference there. Insurance is the big difference.
Inflation benefits the government. the higher the price you pay for things the more taxes the government collected. The key to success is finding a set of rules you can follow consistently. I make an average of $15k per week even though I barely trade myself.
Things appear strange right now. The value of the US dollar is declining due to inflation,As someone with retirement funds I'm concerned about the impact of inflation on my savings.
Love your videos- thank you for the rapid fire mentioning Naples, FL- it is a frustratingly overpriced market- you got that right California prices in FL- please let us know when it hits your buy signal
These videos never tell the real tale. Some of the people in Florida bought their homes for like $50-80k. Zillow is the one that spikes the prices and in suite other sellers do the same. If you are buying a home you can always go back to the previous selling information and always negotiate. Also don’t buy homes in HOAs they are terrible.
It’s not just Zillow. Local taxing bodies inflate the values so they can get much higher tax revenue. These gov agencies get away with it, particularly in FL, because it’s a homestead state. This means that property taxes can only go up a small % per year as long as it is not sold. So the pain isn’t felt by the current owner, or at least, not so abruptly. People who MIGHT buy a house aren’t picketing outside their local taxing authority.
I’ve been saying this for a while! The market is crashing in FL! I’m a Realtor here and I see it daily! I’ve seen prices cut over 100k, on market for 2 years and still not sold. These are very nice remodeled affordable homes in nice areas and still not selling!
Lol why you lying? 😂 prices aren't going down and homes are selling fast here in the Palmetto, Bradenton, and Sarasota areas. House on my street just sold in less than a month.
@@kenshinhimura9387 why on earth would I lie about this?? I’m a Realtor. If anything, I should lie and say business is booming so I bring in my buyers/sellers. Different parts of the state are having different experiences. You’re in a lower cost area than I am. Did you even watch the entire video? Investors are pulling out. Buyers who purchased in the last few years cannot get their equity out of their homes because prices artificially boomed during covid. Between interest rates and insurance, plus lower paying jobs, it is very difficult for people to afford a home here. Once again, I AM a professional. I am licensed and actively selling in 2 states. I can see the difference between those two states so I can definitely tell you it IS slowing down here and many cities in Florida are having huge price cuts and difficulty selling, Cape Coral and punta Gorda being the worst off.
Isn't it great that our tax system is designed so that if your an investor and you take a loss on a house, you can write it off on your taxes. If your a homeowner and take a loss it's your problem. There are all kinds of tax advantages if you are an investor, denied normal homeowners.
Investors can only offset those losses with gains from other investing activities, not your regular W2 income. Normal home owners can do it too . if they have any gains from investments.
The current trend where real estate agents operate investing companies and purchase large numbers of homes is creating a significant issue in the housing market. By holding onto these properties, they artificially inflate demand and create a perception of low inventory, which can drive up prices unfairly. This practice raises a serious conflict of interest, as these agents can manipulate the market to benefit themselves and their companies. Just as stock trade deals are regulated to prevent unfair advantages, similar measures should be implemented in the real estate sector. Real estate agents should be prohibited from owning investing companies to ensure a fair and transparent market for all potential homeowners. This change is crucial for maintaining the integrity and fairness of the real estate industry.
Nick, talk about how Private Equity and Venture Capital was taking loans out against their own firms to buy up housing and to look like they have carry in their funds. The actual carry in their own funds is coming from loans that they are getting from the fund.
Las Vegas resident here. It’s ridiculous inventory is still so low here but I’m renting and being patient. It’s only a matter of time when more houses will be available.
The problem is that the housing market isn’t falling because of a problem in the housing market but to do insurance and property taxes and HOA fees. Things that are not coming down. Insurance is skyrocketing due to escalating weather events and rising cost of rebuilding. Property taxes may not come down ever even if values come down because the state and local governments may use clever tactics to keep them High. Hoa fees are needed to pay for needed repairs which have been neglected.
I think that he is cherry picking very specific locations, to back up his theory that he’s been saying the housing market is crashing, to drive views, which drives income. Anyone who lives here in the major cities will tell you housing is unfortunately stabilized, and not going down. There is no crash in most major areas in Florida.
Good point. I noticed the same thing. He keeps saying prices are crashing but you look up houses and prices and I don't see anything of what he's talking about. Prices are holding steady and going up. I think he finds a listing by certain seller that over lists their price way above market price and then the seller realizes that nobody is going to buy their house at that price so then they slowly lower the listing price until it hits Market price. And then this TH-cam channel says look the prices are crashing but If you list a property at the market value right away it'll sell. The main way this TH-cam channel makes money is off of its views and then also of their website and app
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
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I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Actually, I’ve actually been looking into that lately, the news I've been seeing in the market hasn't been so encouraging honestly. If you don't mind me asking who's the person guiding you?
Covid-19 years led sellers to ask for insane prices with potential buyers out bidding each other. Now, prices have sank to pre-Covid prices which reflect realistic values.
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
I appreciate this advice. Desiree seems to possess a wealth of knowledge. Upon reviewing her online profile, I meticulously examined her resume, which left a strong impression. I have initiated contact with her and scheduled a session.
Why would you want to invest in real estate through the stock market? Can’t you just buy your own rentals with your own money? This is the reason the average person can’t afford to buy a home for their family! Greedy investors! Horrible
If your house has sat on the market for 9 months in Florida, you have the wrong realtor and wrong pricing. This is LIMITED TO COASTAL AREAS where insurance has gone through the roof. INLAND IN FLORIDA, traffic is up in home viewings and ,any from the coast are seeking refuge inland. There is a massive housing shortage right now due to people displaced over 400 miles of the West Coast if Florida. Weather warfare is wiping out coastal living
I just looked at a home in Oklahoma that sold in 2022 but they have it listed for $30K less than the 2022 price. I plan on offering $50K-$60K less than the listed price which means that if they accept my offer, the home will drop by 34% in value from the 2022 sale date. Most people have to go back to work for 2-3 days a week, and they can no longer live in Oklahoma which is driving prices back to the normal 2019-2020 level.
Best of luck. I live in Austin and about to start doing the same thing offering prices 30 to 50K below listing price. They will be there in 6 months anyway so they might as well take the money now. Austin market is crashing. I just saw a home that was listed for $559,999 15 months ago asking $399,999 this past Friday. I hope you score your new home🙏
@@ReiShirouOfficial People moved to Oklahoma because Tulsa County paid people $10,000 for remote workers to move to Tulsa County. Now many people have to go back to work 2-3 days per week in the office and they live hundreds of miles away from their jobs. They can quit their jobs and try to find one in Oklahoma or sell their home and go back to where their job is located.
I’m in Vegas and have been watching the market closely for about 3 years now. Builders were pumping out houses very quickly until the end of 23. Then they slowed down dramatically to maintain low inventory levels. And this seems to be uniform across all the different builders. It seems to have some signs of a price fixing cartel amongst the builders. Or maybe there has been some local regulations that kicked in forcing the builders to slow. Either way, demand is still higher than supply and prices are way higher than what the median income can afford.
In my area those homes were outdated, which is even more ridiculous to ask those prices. Half a million dollars for an older, outdated home in a MEH neighborhood, where the locals are priced out of the market. It was bound to eventually pop.
All these cities that you mentioned are cities that have nothing to offer, but over population, over priced homes, pollution, and a declining quality of life.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
I live in LV - we do have low inventory and high prices but we have started to see a LOT of new homes with price reductions. I just saw Taylor Morrison reducing price on a new 4br in Henderson by $130,000! And if we hit a recession, Las Vegas is going to crash hard. I'm waiting on the sidelines for now.
Same thing happened in my area. New homes selling for cheaper than old homes, Now the price cuts are starting on old homes and zestimates are going down. It just takes time.
Unfortunately many people have less to spend as basic living cost has increased by 50 plus percent. Home prices have to go down much more adjusting for higher maintenance, RE taxes and living cost
If you moved in with family or doubled up with friends during the pandemic because of rent prices and housing costs STAY THERE. You might be thinking it’s time to get a place of your own, and you really hate sharing a bathroom, but DONT give in. Wall Street real estate investors picked our bones clean when we were at our most vulnerable during the lockdown. They don’t deserve a bail out, and the government NEEDS to be sent a clear message about just how hard you can push hard working Americans before they give up.
Do you honestly think the government gives a flying flip about "hard working AMERICANS"? Sending billions and billions to foreign countries, inflation going up every day, taxes going up as officials give themselves raises, money printing at an all time high, cutting our oil production causing us to buy from other countries, depleting our national fuel reserves, keeping our border open, need I continue? We can't depend on our overinflated, greedy, useless government for anything beneficial. The power is in WE THE PEOPLE. It is we who are spending the money. If we as a whole would band together we could influence any market we chose. Cooperation and organization is all we need. Ok, maybe not all we need but certainly fundamental.
*Inflation is far more harmful to individuals than a collapsing stock or property, house market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.!! imagine l invested $2,500 and received $6000 in 4days.*
The crypt0 market is bringing a different revolution in the world economy. People who are optimistic investor will earn consistent why the others will sit back and watch.
I combat the negatives effect of inflthinkation, it's a good idea to diversify your portfolio across different asset classes, since this can help protect your portfolio against inflation. I've heard testimonies of people accruing huge return during recessions.
Ms Laura Ferguson, guided me thru the process of making a sound financial decision. Most importantly, the lady took the time to make sure everyone understood every aspect of the transaction until we felt 100% comfortable."
i live in new smyrna beach. i don't see a housing crash. back in 2008 some prices dropped 50 percent. the reason was they were way over priced in the first place. just like now.
Rapid-fire roundup of markets --- really enjoyed that. Hope you'll make it a regular feature.......by the way, the Atlanta condo market seems to continue softening.
naples here. condos arent moving and you can talk down price. houses prices are still stubborn. condo prices are suffering from skyrocketting HOA fees, property taxes and special assesments related to new law requiring HOA to shore up reserve
You can't give condos away in FL. Desantis needs to do something because it's criminal seeing seniors in their 70s, 80s & 90s on fixed incomes being forced to move from a condo they lived in for past 20 or 30 years, maybe longer. . The stress on these older folks is going to kill many of them. Plus the only friends they have in life are the people in their community. It makes me want to cry knowing how much these folks are suffering. State & Federal Government needs to help these folks out. It's so wrong what these people are going through. I pray for these people. 🙏
@@swagic8452 desantis will be on the side of insurance co before residence. they want high premium and low liability. that cant be done with old buildings
@@swagic8452 condos are selling here cuz new law does not apply to condos newer than 30 yrs old and up to two floors. two floor condos are selling with negotiation
Keep bring us good news. Hopefully in two years we will be able to purchase once prices return to normal. Normal being 3 times the average local income or less.
There's a large disconnect between what I'm observing on the ground in Florida. And what the aggregate data is saying.
Many listings are now showing huge 30% drops. But aggregate price levels are only down 5%.
Suggests to me we'll continue to see a worsening in the reported price data from Zillow/Realtor in future months and quarters.
Access the data for your city and ZIP code on Reventure App: www.reventure.app
Anyone who believes the nationally reported data about the job/housing market at this time is just an idiot or lying to themselves
How does the corporate owner like INVH insure the tens of thousands of homes they own in flood/hurricane prone areas? And what effect will an event have on their stock prices?
Do you know about Co Star who owns loop net and ten X and others ? Would you consider commercial data and sales related information regarding property and businesses?
What are you seeing in The Keys? Please do a video down there (upper-middle-lower).
Love the channel Nick! Keep up the good work!!!
If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.
In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor?
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
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Can I start with as low as $1,000?
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
@@hasede-lg9hj Impressive can you share more info?
Impressive can you share more info?
I've experimented with a few over the past years, but I've stuck with Annette Marie Holt for about three years now, and her performance has been consistently impressive. She's quite known in her field, look her up.
Yes happy to see it. But let's get to 50% price cuts and take it national. DO NOT OVERPAY‼️ 😊
Needs to go down 100% to make affordable
@@erikbusenbark4865yes. Give me The immigrant discount. 100% free housing.
Will never happen. Real estate will remain relatively stable.
Until it doesnt
@@FeelingPeculiar sheeple were saying same BS narrative 2005-2007 but you likely were not yet a bill-paying adult those years
The house for 336K is probably worth 220K. Still too much. House has to be sold at a price people who live in that state can afford to purchase. Otherwise the property is overpriced. And once you add in the insurance problems in Florida....much of the state is overpriced .
Home insurance and mortgage rates are way higher than 2019, before the pandemic. Incomes barely moved. Prices have to go way lower than 2019. Usually overshoot on the downside.
@@AjitMD Totally agree.
Try $190K. Those houses are basic and mostly garage. I work in an industry where, for four years, I've been trying to tell anyone who would listen, to wait. Just wait. Don't rush to buy.
@@Markham12thcentury I think we are headed to a bad recession or worse. $5T Covid money fed to Wall Street mostly, drove asset prices including housing, stocks, etc to unrealistic super bubble levels. In some areas house prices 3x 2019 prices. Most used borrowed money. As usual we are likely to get another crash.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
I'm 55. If there's one thing I've learned in business and investments, it's this: It's easy to buy stuff but not so easy to sell it when you want, or need to.
Absolutely true. Usually, it's at a loss. My wife needed to learn that. She spent 30K on rocks, oils and all this crap. Oh, and $800.00 on makeup. Just to have it all sit in bins (In Florida heat) in the garage for eight years.
That's why you only buy things that cashflow.
doesnt help that boomers bought these houses for less than a years salary in the 70's are are expecting 10x the average annual income today. Just because a house is valued that high, doesnt mean its worth that much. There are a bunch of factors unique to florida that make home ownership more of a liability than an asset. Insurance prices are through the roof, and most homes are nearly uninsurable here, and thats a HUGE liability with the threat of hurricanes.
@@WLIYD22 Exactly. When you buy the proper cash flowing investment, you can simply hold it forever.
❤
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
"Rebecca Nassar Dunne" is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Unfortunately the insurance crazyness here in Florida is going to drive prices even lower.
Has Florida had more hurricane destruction than in the past? Conceivably those would come down to equal housing prices, right? Buhler ... anyone?
Even with 50% price reduction, the Ins., Tax and HOA fees will inhibit the middle class from buying. Of course, the investors will pressure these entities (lobbying at the State.Local gov. level) to 'give them a break' so they can continue to hold the inventory at a lower cost than a real, middle-class buyer would have. Its all a giant rigged system... you will never really own your home in the US as the men with guns can come and take your property if you don't pay the evver increasing tax, ins. hoa costs. "You will own nothing, and you will be happy".
It needs to go lower, housing prices have been getting ridiculous for generations.
@@intentionally-blank The insurance prices aren't high because of hurricanes or climate change like some people would tell you. It's due to insurance fraud. Unfortunately, insurance fraud is much easier to commit in states like Florida and California due to the potential natural disasters. People in Florida for example are told, "You deserve a free roof, there's a slight crack in one of your shingles!" and they sign a paper that signs their rights away and the insurance company is forced to work with the fraudulent salesmen (who are now representing you). The same insurance companies that have left Florida have also left California. Hurricanes aren't killing more people or becoming more frequent (Florida hasn't even had a hurricane yet this year), insurance fraud is. It happens across the country but unfortunately it's a lot easier to do in states with "crazier" weather such as Florida or California.
@@fowlerfreak7420 I'm so glad I asked. Thanks for the post/reply.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money or you could hire a financial expert.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2020, and I return at least $30k ROI, and this does not include capital gain.
Would you mind telling me how to contact this specific coach using their service? You seem to have the solution, as opposed to the rest of us.
'Carol Vivian Constable' maintains an online presence. Just make a simple search for her name online.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Prices in Punta Gorda have gone up 100% in the past 5 years so 30% seems reasonable start to the correction.
@keyisersoze Never!
Then they can stay there forever. No one wants their vacant houses.
They can pay instead.
@@desmomotodesmomoto2033 plenty of sheeple said “Never!” in 2007 as well
@@Koushi82 They can live on trapped swap with mosquitoes/
@@desmomotodesmomoto2033 You must hate young people.
people on average make about 30k to 50k a year in FL, so even house prices being cut down to 300k is not enough. We need to start seeing 150k to 250k price ranges
Exactly
Also factor in Outrageous
Insurance and property tax 😮
After election (selection) big bank Bailouts & evicting begins. Will immigrants get First Picks? I am waiting until after election to buy.
That’s not what they want though. They don’t want those people living in FL. I don’t know who is going to serve all these paper millionaires.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
It's not just rates or prices, it's the cost of home ownership (insurance, taxes, maintenance/repairs).
Yep
The insurance costs in Florida are higher than my mortgage in Georgia.
I suspect Floridians are lowering prices just to get out. The property taxes are another problem not to mention HOA. Good luck to all of you and I hope you can get out.
@@parkershane1815just go naked.
Yep, home prices need to drop by alot because the current prices compared to wages AND inflation is way out of balance. People simply can't afford the PRICES of these homes on top of all their other monthly expenses, it does not matter how much you cut the rates. The prices need to go down. Utilities, HOA's, insurance, property insurance, groceries, car payments, credit card high interest rates, ect.... are MONTLY bills. People only have so much money to shell out every month. Our wages are WAY behind the cost of living. Things need to come into equilibrium again.
oh wow, so guys, are you telling me that an asset like a HOUSE, a TANGIBLE ASSET, A LITERAL SLAB OF BRICK/WOOD/AND OTHER MATERIALS, does NOT appreciate 100% in less than TWO YEARS?!?!?
no way!! I would never have imagined!
😂 yep
Fools gold 😂
It does if you live where I live in Florida. House doubled in value in just a few years.
@@kenshinhimura9387 Only if you find a sucker to buy it.
There's a lot of sucker's out there apparently
With criminal, out of control rising HOA, insurance and property tax increases you'd be out of your mind to even pay $1 for a house in Florida.
One word trumps you statement - Florida!
I remember the cops arresting and giving this young guy a DUI for driving his golf cart two houses down. Yes i know its illegal, but its like... FL is a "vacation" state and you need $ so bad, you're gonna give someone a DUI over that? LOL what a joke!
They should raise it more.
Absolutely. Florida used to be cool because it was cheap. Now its ridiculous and you still have to deal with crazy extreme weather, bugs and heat!
@@tnnsboy18 I agree bro. That's ridiculous.
30% is nothing compared to how much it has gone up.
Greed really is screwing over the new generations.
Yep.. greed is not a good thing
The LOVE of money (which is greed) is the root of all kinds of evil. God warned us in His word.
It's not just greed on the part of sellers, even if you pay cash for a property the realtors get their 6 percent every time the house sells. All those commissions are passed on in the price.
Yep, houses jacked up 100% then lowers to 30%. Not a deal.
Remember if the values drops 30 percent it take a move of more than 40 percent to return to the former values. Sometimes it’s hard to envision that. Do the math
To be honest, they can drop the prices by 60% and it won't be enough. Median housing needs to roll back to under $200k. I'm in Tampa Bay, where the average household earns $70K per year, and the banks require a $106K income to qualify for the AVERAGE priced house. If that's not an enormous bubble, I don't know what is.
Average household 70k? That means most are way over $150k. Link to facts
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
Such concerns also come to me. After 50, I'm retiring early. I'm already concerned about the direction the future is taking, particularly with regard to finances and making ends meet. I'm thinking about investing in the stock market for the first time as well, but how can I accomplish so considering that the market has been in disarray for much of the year?
For my part, I can relate to that. My benefits were clear when I started working with a fiduciary financial counsellor. I would always suggest seeking expert assistance in these situations so they can guide you through bumpy markets and simply provide you with indicators and tactics for knowing when to enter and exit the market.
That's really interesting. My portfolio is getting smaller; how can I get in touch with your asset-coach?
Her name is “Jessica Lee Horst” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
A 40% price cut can still be too expensive, not to mention the fraudulent property taxes on many of these places is absurd, that's not even including HOA and homeowners insurance. In many cases you could give these homes away and there's people that couldn't afford it.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Especially in states like California.
Keep renting
is insurance mandatory?
Thanks for discussing Vegas. I agree that prices will not drop in the next 3-4 months. Likely the next year will also see no price drops. We just need much more inventory to get movement for people to relocate. I have been waiting for a couple years now and it looks like it'll take a couple more.
Unfortunately, not all of us were financially literate early. I was 35 when I finally educated myself and started taking steps. I went from $176,000 in debt with zero savings or retirement to now, 2 years later, fully debt-free and over $1000,000 net worth. I know that doesn't SOUND like a lot, but I'm incredibly proud of it. Now I'm fast-tracking my wealth building (investing $400,000 annually) and don't owe a dime to anyone. It's a good feeling!
Lol, what strategy do you use please?
Exploring new investment opportunities demonstrates your proactive stance towards financial growth during these volatile times. Diversifying your portfolio can play a crucial role in effectiveIy mitigating risks..
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Adriana Catherine
Nice to see you talking about her, sHe is really amazing, she has amazing skills, she changed my 0.3 BT C to 1.9 BT C ......
She is my family' personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
It's absolutely brutal in NH/Maine. Home prices up 90%+ in 4 years. Rent surge as well. Lots of families struggling.
I went on realtor and there was a bunch of homes under 200k in New Hampshire
@@xro1983Where? All the jobs are in the southern part of the state.
@@xro1983 There are no jobs where those houses are, and the 200k houses need 100K in work, or they're seasonal.
@@xro1983you think you know more about the area that they live in? 😂
@@AnonymousPerson0182 no but I found affordable housing. Now they moved the goal post to yeah it’s under 200k but it needs 100k worth of work. Some people you just can’t win.
This is a bad thing? It just shows how wacky the whole thing was. It's an auction market, when prices rise to levels where bidders stop bidding then prices will naturally fall. There is no magic here. All markets correct eventually. Bubbles don't generally end well. A few years ago, it was Tulip Mania in housing, this is just a natural reversion to the mean to more sane levels.
The big problem is that these home values inform the debt & risk levels of our core lenders, which influences how every sector of our economy functions. So when these values tank, productive businesses won’t be able to get loans our economy depends on.
Losses to institutional investors will be reflected in stock values.
This will compound the rate of decline, with additional downward pressure from owners who bought homes on Securities Backed Mortgages. These are free money when stocks are up, but essentially are infinitely variable interest rate loans. It’s going to fall HARD when it goes.
It was irrational exuberance propped up by a speculative bubble. We were told that homes worth 200k were suddenly worth a million dollars, and we believed it because investment firms with deep pockets were willing to bid prices up to that level. Now reality is just setting back in.
@@benclemens8370 Agree with your big picture assessment but to get back to more normal historical levels things have to correct and when things correct its going to be painful for investors and the economy. Kicking the can down the road only makes things worse when it actually happens.
Like to think that will happen in Vonore TN
What about the gold market?? Wall Street can keep these market artificial high as long as they want to they just see no profit in it anymore and are bailing.
It’s happening in Central Texas too. A mansion on Lake Travis that was oversized at $5 million just had a price cut by nearly half a million!
The insurance companies won't insure them. HOA's gone crazy. No one will pay anything for them. The true value is zero dollars.
Basically.
HOAs are evil, 'mkay?'...
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Great video. Very informative. We are relocating to SW Florida in December. We have land and want to build next year. We are keeping our house in Vermont. This was a helpful video. Thanks
Something is definitely up. Drove around Austin today and noticed businesses that have been around since I moved here in 2002, closed.
Very eerie feeling in some parts of town.
Californication!!
Like I said on the stupid RE video earlier this week on CNBC. They need to cover the millions of vacant units held by corporations 😊
In San Diego. Listing prices still amaze me. Tiny hoarder house, near freeway, small lot, bad neighborhood, priced over $600k. Price reductions after crazy price increases. Crime is up, homeless everywhere. Insane.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Im 35 san diego refugee living in the menifee/murriets area. I look at your videos because your informative and super resourceful with the data you give out. I will continue to follow you. Keep doing you!
I live in Vegas, and have been on the fence about moving to Sarasota Florida for it's gorgeous beaches and palm trees. I still like Florida but a recent trip reminds me how miserable it can be during the summer seasons. If the intense humidity, hurricanes, flooding, bugs, and reptiles don't kill you the insane HOA, CDD, insurance, and property taxes will. Maybe that's why it's crashing hard there.
Too much crime and overpopulation in Florida
Yeah, stay away.
@@t2terminator507That's dumb. It could have been a Democrap.
But 110 degrees in Vegas os better lol. Agreed though. Florida is a hype not well deserved
@@t2terminator507 Your IQ is on my thermostat.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Victoria Wiezorek.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
She is my family's personal Broker and also a personal Broker to many families in the United states, she is a licensed broker and a FINRA AGENT in the United States.
You trade with Victoria Wiezorek too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
The first time we had tried, we invested $1400 and after a week we received $5,230. That really helped us a lot to pay our bills.
Still over-priced even at 2018-2019 prices. And property insurance costs are insane.
I live in Austin TX and just saw a home selling for $559,000 15 months ago asking $399,999 last Friday. Austin is crashing so fast it boggles my mind. Think about it. Google, FB & Oracle have all pulled out or soon leaving Austin. All the wealthy techies are selling their homes and are now lucky if they will break even. So way more inventory than buyers. Plus rentals also dropping big time. No builders could have ever predicted that the largest tech companies in Austin would be leaving. I am waiting for Austin to drop another 20% before I pull the plug. Luckily I am a cash buyer but if stock market has a correction, I may pile all my cash back into market to make another 20% if the time seems right.
@swagic8452 your biggest mistake is trust the value of the dollar itself, which lost 20-25% of its value in the last 4-5 years. The dollar will not last forever, no currency has and none will. If you look at all the major crashes, it's taken multiples to fix, and the next I predict based off the current velocity of the dollar will cost $50-$100 trillion dollars, and the inflation that money printing will cause will cause hyperinflation. The poorest in America will be millionaires, middle class billionaires, and the richest will be trillionaires.
What’s the address of that house so I can look it up?
Where are the businesses going?
I will cosign this. I live in round rock and have seen some houses fall from mid 400s to mid 300s over the past year or so before finally selling
@@Houstonbeach Too many to lookup. Go do your own research. WTF would I lie about this?
Citrus County(Old Florida) prices not dropping yet, but “days on market” and inventory are way up!
Man you are great in what you do , keep up the good work 👌
Great Video! You might want to interview the sellers and ask them what has happened and how the realtors are explaining this decline. Interviews are fascinating.
Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. Thanks to Stacey Macken, the lady that changed my financial life.
I've seen different people talking about this Stacey Macken she must be very amazing for people to talk this good about her.
Honestly, I'm surprised that this mrs Stacey Macken is mentioned here, came across a testimony about her from one of the beneficiaries on the CNBC news, she seems to be doing extremely well
That woman has changed my life for good. I attended her investment class couple of weeks and she's the best when it comes for guidance
Stacey Macken is a retirement manager and investment/savings expert, in ranks with Cathie woods and Warren, has demonstrated expertise in investment strategies and has been involved in managing and providing financial guidance globally
I remain eternally grateful to Stacey Macken for her efforts that got me to this point, finally payed off my mortgage and all my debts, what more could I've asked for. She changed my life.
In GFC, it took a full 5 years from peak to through in the real estate market. In most real estate markets the peak was mid-2022, including SWFL. The earliest we'll see a buyable bottom in real estate will be 2026, but more likely it will be 2027. In Cape Coral, I am still seeing asking prices of $500k-$600k for houses that should only sell for about $300-$350k, so, IMHO, we are still pretty far away.
💯
Exactly. There are going to be a lot of people catching falling knives thinking they're getting a deal and then will lose all their equity as the crash continues, maybe even go upside down and walk away.
@@WhyteHorse2023 There is and will always be a baseline buying demand, because there will always be dumb buyers and those that are forced to buy. For example, investors doing like-kind exchanges looking to avoid triggering capital gains. Make no mistake, however, demand for housing in SWFL is in free fall right now. In the Cape Coral/Fort Myers/Lehigh Acres area I am seeing asking rents down 20% plus YOY and home valuations down 7-8% YOY. Home valuations in total are down about 15% from their mid-2022 peak.
@@KungPowEnterFist When someone says IMHO, I listen, they usually have the goods.
My area is still ridiculous. I see a lot of the newer people are trying to sell and have been on the market for a while, some even years. It looks like a lot of places were built in 2021 and people paid over a million for them. Well, the wages here and those prices do not match. Hope it was your forever home or you don't mind waiting several years for some out of state person to buy. The only really expensive things that usually sell are business places. Like there is a horse ranch that is an active 30 acre ranch for $4.8 million. That will sell only because it's a business with home and also a lot of money invested in the event/training facility on site. There's also enough stalls to rent out and so forth. The rest of the stuff is downright delusional in price.
I'll give you an example of how delusional the prices have gotten around here.
5 bedroom 4 bath 3401 square foot home on 5.72 acres built in 1975. In 2020 the home was $364.3k. They are currently asking $1.3 million. Says the days on the market are 52. It's nice but nothing special. How on earth does anything skyrocket that much in value over 4 years? The answer is that it doesn't. Most people leave after one winter because they can't handle it. So, there's that on top of everything else.
Ya that's the kind of BS I'm seeing too. A house that was like 400k 5 years ago is now 1.4 million. Nothing special at all. I wouldn't even pay 500k for it. Yet somehow they still seem to be selling. I don't know who in the hell is dumb enough to pay that much, but apparently they're out there.
I continue to hold the stance that I don't see how this housing market can't correct at some point though. If people simply can't afford it, how can it not correct at some point when the money runs out?
All home prices in America have been fraudulently propped up. So prices should drop everywhere despite inventory levels. Prices must drop everywhere!
For someone with common sense understands that prices are Inflated by at least 60-100%
💯 %@@stevehas1861
I hope prices drop.. I have family that lives in shittsville Kansas and prices there are insanely high. Shittsville is not a good area and still overpriced..
Exactly. The prices are ridiculous.
The false low inventory narrative had been going on since 2017 and maybe before then. As the pandemic gpt worse the housing market lies got put it on steroids, because buyers back then were willing to pay anything to get out of their cramped quarters. It was pure lunacy!
I signed a contract on a new construction home and placed a $5800 deposit with a price of 580K at 4.99% just a couple months ago. It'll be finished in December. This was before all of the home prices started falling. Now I'm scared to death It'll be worth 350k in 3 years.
It's Market dependent. You need to look at your specific state,city and zip code and neighborhood to see what the houses in that area are doing. Be careful listening to this TH-cam channel a lot of the stuff he's selling is fear p*rn and he Cherry picks listings that were way overpriced and then the seller realizes nobody's going to buy their house and they keep lowering it until it hits the true market value. And then this TH-cam channel says look they decreased the listing price. Housing prices are going to crash
As a Florida resident that was born here, this is more of a correction than it is a crash. The average earning Floridian has been priced out of the market since the pandemic. Prices have been dropping but homes here are still overpriced. I personally love looking at the sale history on the Reventure app. That tells the real story.
How many of these homes are second homes?
He mentions seniors and real estate investors. But many of these are empty half the year. Insurance etc costs are up. Not seeing this everywhere in Florida
Native Floridian here, too! I look around at the home prices and wonder how anyone can afford anything with the average income in Florida? Even with a six figure income, it’s still going get you a tiny older home in a sketchy area that was just a few years ago attainable to almost anyone. Homes have actually doubled since the pandemic, but not incomes! It seems completely impossible for the population to survive living here under the current circumstances.
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
Having an investment advisor is currently the best way to approach the stock market. I was going alone, but it wasn't working. I've been working with an advisor for a while now, and last year, I achieved over 85% capital growth minus dividends
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Jessica Lee Horst for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
HOA Insurance and property tax has killed Florida
But they have no STATE TAX. 🤣
@womblestacker7993 Stay out of the HOA, solves that problem. Property tax is similar to most northern states, so no real appreciable difference there. Insurance is the big difference.
Inflation benefits the government. the higher the price you pay for things the more taxes the government collected. The key to success is finding a set of rules you can follow consistently. I make an average of $15k per week even though I barely trade myself.
Everyone needs more than their salary to be financially stable. Investing it with a reliable source is the best.
That is true my dear, Investment is the best idea presently and without it human struggles are worthless.
Things appear strange right now. The value of the US dollar is declining due to inflation,As someone with retirement funds I'm concerned about the impact of inflation on my savings.
To be honest, investing is a smart way of securing your family future, grow wealth and beat inflation.
My portfolio has been going down the drain while I try on my own, I just don't know what to do,is there anyway I can reach your mentor?
Nick, good work as usual.. You have called it spot on for years. Thank you !
Houses are not like stocks, you can't just sell with the click of a mouse.
Yet*
Try Arrived Homes.
The way big corporations are going around and buying entire neighborhoods sight unseen we're pretty close to that.
You could 2020-2022
@@jw4451 That was yesterday, now they selling.
Love your videos- thank you for the rapid fire mentioning Naples, FL- it is a frustratingly overpriced market- you got that right California prices in FL- please let us know when it hits your buy signal
These videos never tell the real tale. Some of the people in Florida bought their homes for like $50-80k. Zillow is the one that spikes the prices and in suite other sellers do the same. If you are buying a home you can always go back to the previous selling information and always negotiate. Also don’t buy homes in HOAs they are terrible.
It’s not just Zillow. Local taxing bodies inflate the values so they can get much higher tax revenue. These gov agencies get away with it, particularly in FL, because it’s a homestead state. This means that property taxes can only go up a small % per year as long as it is not sold. So the pain isn’t felt by the current owner, or at least, not so abruptly. People who MIGHT buy a house aren’t picketing outside their local taxing authority.
Good information, thank you for covering Florida!
I’ve been saying this for a while! The market is crashing in FL! I’m a Realtor here and I see it daily! I’ve seen prices cut over 100k, on market for 2 years and still not sold. These are very nice remodeled affordable homes in nice areas and still not selling!
Lol why you lying? 😂 prices aren't going down and homes are selling fast here in the Palmetto, Bradenton, and Sarasota areas. House on my street just sold in less than a month.
@@kenshinhimura9387 why on earth would I lie about this?? I’m a Realtor. If anything, I should lie and say business is booming so I bring in my buyers/sellers. Different parts of the state are having different experiences. You’re in a lower cost area than I am. Did you even watch the entire video? Investors are pulling out. Buyers who purchased in the last few years cannot get their equity out of their homes because prices artificially boomed during covid. Between interest rates and insurance, plus lower paying jobs, it is very difficult for people to afford a home here. Once again, I AM a professional. I am licensed and actively selling in 2 states. I can see the difference between those two states so I can definitely tell you it IS slowing down here and many cities in Florida are having huge price cuts and difficulty selling, Cape Coral and punta Gorda being the worst off.
That’s what we need a return to 2018-2019 realistic prices
Absolutely…..back to “normal historical values”
No 2008 prices
Prices were way too high at that time.
@@Scotpatriot 2008-2099 would be more “normal.” And needed.
@@rodcoulter997 I’m talking about a correction to 2018 prices immediately then if down from there great
Isn't it great that our tax system is designed so that if your an investor and you take a loss on a house, you can write it off on your taxes. If your a homeowner and take a loss it's your problem. There are all kinds of tax advantages if you are an investor, denied normal homeowners.
Nailed it
Investors can only offset those losses with gains from other investing activities, not your regular W2 income. Normal home owners can do it too . if they have any gains from investments.
The current trend where real estate agents operate investing companies and purchase large numbers of homes is creating a significant issue in the housing market. By holding onto these properties, they artificially inflate demand and create a perception of low inventory, which can drive up prices unfairly. This practice raises a serious conflict of interest, as these agents can manipulate the market to benefit themselves and their companies. Just as stock trade deals are regulated to prevent unfair advantages, similar measures should be implemented in the real estate sector. Real estate agents should be prohibited from owning investing companies to ensure a fair and transparent market for all potential homeowners. This change is crucial for maintaining the integrity and fairness of the real estate industry.
If it's your primary home and sell it sith a gain you likely pay no tax so don't complain
Nick, talk about how Private Equity and Venture Capital was taking loans out against their own firms to buy up housing and to look like they have carry in their funds. The actual carry in their own funds is coming from loans that they are getting from the fund.
Patience is a reward
Always
Las Vegas resident here. It’s ridiculous inventory is still so low here but I’m renting and being patient. It’s only a matter of time when more houses will be available.
The problem is that the housing market isn’t falling because of a problem in the housing market but to do insurance and property taxes and HOA fees. Things that are not coming down. Insurance is skyrocketing due to escalating weather events and rising cost of rebuilding. Property taxes may not come down ever even if values come down because the state and local governments may use clever tactics to keep them
High. Hoa fees are needed to pay for needed repairs which have been neglected.
Wrong. Insurance is increasing because of fraud.
Great video as usual , I agree 100% prices Will fall in 18-24 months a lot! Thanks Nick.
I think that he is cherry picking very specific locations, to back up his theory that he’s been saying the housing market is crashing, to drive views, which drives income. Anyone who lives here in the major cities will tell you housing is unfortunately stabilized, and not going down. There is no crash in most major areas in Florida.
Good point. I noticed the same thing. He keeps saying prices are crashing but you look up houses and prices and I don't see anything of what he's talking about. Prices are holding steady and going up. I think he finds a listing by certain seller that over lists their price way above market price and then the seller realizes that nobody is going to buy their house at that price so then they slowly lower the listing price until it hits Market price. And then this TH-cam channel says look the prices are crashing but If you list a property at the market value right away it'll sell.
The main way this TH-cam channel makes money is off of its views and then also of their website and app
I appreciate you finally breaking down the trend down by state.
If you've achieved any financial security, savings, owning a house, a pension.... you'll find these are going to be a financial burden around your neck..... they'll tax you to oblivion..
One lesson I've learnt from billionaires is to always put your money to work, and diversifying your investments.
In light of the global crisis, rising inflation, and economic instability caused by inadequate governance, stocks, ETFs, Mutual funds, and REITs, assets can serve as a viable path to achieving financial independence.
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I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
Actually, I’ve actually been looking into that lately, the news I've been seeing in the market hasn't been so encouraging honestly. If you don't mind me asking who's the person guiding you?
2010 HERE WE COME! I know this well We picked up 3!!! Really good deals from 2010 - 2015
These TH-cam videos with the HOA outrageous assessments and crazy insurance costs are scaring people away.
Covid-19 years led sellers to ask for insane prices with potential buyers out bidding each other. Now, prices have sank to pre-Covid prices which reflect realistic values.
I'm eagerly looking forward to a potential housing crisis to make affordable purchases after selling some properties in 2025. I'm also considering investing in stocks as a backup plan. Any advice on the best timing for these investments? I've seen significant trading profits, but there are concerns about the market's instability and the chance of a dead cat bounce. Could you explain why this market phenomenon occurs?
Investing in both real estate and stocks could indeed be a wise choice, particularly when accompanied by a carefully crafted trading plan to maneuver through profitable prospects.
I appreciate this advice. Desiree seems to possess a wealth of knowledge. Upon reviewing her online profile, I meticulously examined her resume, which left a strong impression. I have initiated contact with her and scheduled a session.
@BrianAlbert-hh3pistop scamming. i bet yall are a team replying to each other.
Why would you want to invest in real estate through the stock market? Can’t you just buy your own rentals with your own money? This is the reason the average person can’t afford to buy a home for their family! Greedy investors! Horrible
yea youre right. stock market just crashed and the guys asking if now is a good time to buy wtf? doesnt add up ... bot
If your house has sat on the market for 9 months in Florida, you have the wrong realtor and wrong pricing. This is LIMITED TO COASTAL AREAS where insurance has gone through the roof. INLAND IN FLORIDA, traffic is up in home viewings and ,any from the coast are seeking refuge inland. There is a massive housing shortage right now due to people displaced over 400 miles of the West Coast if Florida. Weather warfare is wiping out coastal living
Housing is always a lag when recession hits!!!
The housing insurance costs in FL must be sky high!
I just looked at a home in Oklahoma that sold in 2022 but they have it listed for $30K less than the 2022 price. I plan on offering $50K-$60K less than the listed price which means that if they accept my offer, the home will drop by 34% in value from the 2022 sale date. Most people have to go back to work for 2-3 days a week, and they can no longer live in Oklahoma which is driving prices back to the normal 2019-2020 level.
Best of luck. I live in Austin and about to start doing the same thing offering prices 30 to 50K below listing price. They will be there in 6 months anyway so they might as well take the money now. Austin market is crashing. I just saw a home that was listed for $559,999 15 months ago asking $399,999 this past Friday. I hope you score your new home🙏
Awesome!!!
What’s wrong with that Oklahoma’s job market? 2-3 days?
You might want to go by 2019 prices as it may still be overvalued even at 34% drop.
@@ReiShirouOfficial People moved to Oklahoma because Tulsa County paid people $10,000 for remote workers to move to Tulsa County. Now many people have to go back to work 2-3 days per week in the office and they live hundreds of miles away from their jobs. They can quit their jobs and try to find one in Oklahoma or sell their home and go back to where their job is located.
I’m in Vegas and have been watching the market closely for about 3 years now. Builders were pumping out houses very quickly until the end of 23. Then they slowed down dramatically to maintain low inventory levels. And this seems to be uniform across all the different builders. It seems to have some signs of a price fixing cartel amongst the builders. Or maybe there has been some local regulations that kicked in forcing the builders to slow. Either way, demand is still higher than supply and prices are way higher than what the median income can afford.
525000 was an insane ask
In my area those homes were outdated, which is even more ridiculous to ask those prices. Half a million dollars for an older, outdated home in a MEH neighborhood, where the locals are priced out of the market. It was bound to eventually pop.
That was 1.2 million just last year
House back 2018 prices were still crazy high
All these cities that you mentioned are cities that have nothing to offer, but over population, over priced homes, pollution, and a declining quality of life.
The housing market wont come back to normal until the border is closed which if it happens will happen under a Trump presidency and then everyone will say he is a genius. The job market revisions just came out and American citizens lost 1.325 million jobs and foreign born gained 325 thousand jobs, which means Americans lost out on around 1.96 million (2 million) jobs in August alone... this proves that the entire economy has been illegal based, based solely on illegals coming here getting jobs and welfare from the government and nonprofits and buying things in retail and food and cars and clothes and houses and renting houses...and the Americans have just been sitting this out watching from the sidelines while they are slowly replaced in their own country. Get that... 2 million lost job opportunities for Americans in AUGUST 2024. Yet, Nick from Reventure say almost nothing about this.
Really good content Nick! This was perfect IMO as you covered A LOT of the US. Much appreciated!
Still Overpriced in Orlando
Could you do an episode evaluating smaller cities over the past few years? My request is to look into Columbia, MD as one of the cities
Great video. Thanks nick!
Thank you so much for touching on the housing in California.
I live in LV - we do have low inventory and high prices but we have started to see a LOT of new homes with price reductions. I just saw Taylor Morrison reducing price on a new 4br in Henderson by $130,000! And if we hit a recession, Las Vegas is going to crash hard. I'm waiting on the sidelines for now.
Same thing happened in my area. New homes selling for cheaper than old homes, Now the price cuts are starting on old homes and zestimates are going down. It just takes time.
Unfortunately many people have less to spend as basic living cost has increased by 50 plus percent. Home prices have to go down much more adjusting for higher maintenance, RE taxes and living cost
If you moved in with family or doubled up with friends during the pandemic because of rent prices and housing costs STAY THERE.
You might be thinking it’s time to get a place of your own, and you really hate sharing a bathroom, but DONT give in.
Wall Street real estate investors picked our bones clean when we were at our most vulnerable during the lockdown.
They don’t deserve a bail out, and the government NEEDS to be sent a clear message about just how hard you can push hard working Americans before they give up.
@@geocam2oh no! Wouldn't want any anti-capitalist sentiment as wealth disparity continues to accelerate, better to just grin and bare it.
Do you honestly think the government gives a flying flip about "hard working AMERICANS"? Sending billions and billions to foreign countries, inflation going up every day, taxes going up as officials give themselves raises, money printing at an all time high, cutting our oil production causing us to buy from other countries, depleting our national fuel reserves, keeping our border open, need I continue? We can't depend on our overinflated, greedy, useless government for anything beneficial. The power is in WE THE PEOPLE. It is we who are spending the money. If we as a whole would band together we could influence any market we chose. Cooperation and organization is all we need. Ok, maybe not all we need but certainly fundamental.
what does the "government" have to do with Wall Street real estate investors? It's as if you want MORE state control. Commie.
I lived through 2008. It is a replay of that just different triggers.
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The crypt0 market is bringing a different revolution in the world economy. People who are optimistic investor will earn consistent why the others will sit back and watch.
I combat the negatives effect of inflthinkation, it's a good idea to diversify your portfolio across different asset classes, since this can help protect your portfolio against inflation.
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@ms guson
Too Much Hype!
Walk away from this Sight. Unnecessary Fears.
i live in new smyrna beach. i don't see a housing crash. back in 2008 some prices dropped 50 percent. the reason was they were way over priced in the first place. just like now.
Love your show. Great info
Everyone forgets that before the pandemic hit the housing market was due for a correction
Vegas is crazy. It used to be an early indicator of downturn. Now it's a laggard.
Let them decline. Prices are beyond ridiculous
Thanks for the updates Nick.I appreciate it.👍
Here in Colorado there are houses that have been on the market for 6 months.. in good areas where everyone wants to move to.
clearly the asking prices are too high
Asking prices are ridiculous high. People are broke.
Rapid-fire roundup of markets --- really enjoyed that. Hope you'll make it a regular feature.......by the way, the Atlanta condo market seems to continue softening.
On Vegas, the low inventory is probably people anticipating the boon from the high speed rail line from CA to Vegas
when is that happening
There still talking about that, it’s a 20 year old story.
We put ours in the market at 415K in May and sold it for 380K in August. An 8.5% reduction in 4 months. Overall not too bad.
This was in Melbourne FL.
naples here. condos arent moving and you can talk down price. houses prices are still stubborn. condo prices are suffering from skyrocketting HOA fees, property taxes and special assesments related to new law requiring HOA to shore up reserve
You can't give condos away in FL. Desantis needs to do something because it's criminal seeing seniors in their 70s, 80s & 90s on fixed incomes being forced to move from a condo they lived in for past 20 or 30 years, maybe longer. . The stress on these older folks is going to kill many of them. Plus the only friends they have in life are the people in their community. It makes me want to cry knowing how much these folks are suffering. State & Federal Government needs to help these folks out. It's so wrong what these people are going through. I pray for these people. 🙏
@@swagic8452 desantis will be on the side of insurance co before residence. they want high premium and low liability. that cant be done with old buildings
@@swagic8452 condos are selling here cuz new law does not apply to condos newer than 30 yrs old and up to two floors. two floor condos are selling with negotiation
Naples housing won’t crash
Keep bring us good news.
Hopefully in two years we will be able to purchase once prices return to normal.
Normal being 3 times the average local income or less.