Time to PANIC! What HOME SELLERS Have to Know RIGHT NOW!

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  • เผยแพร่เมื่อ 22 ธ.ค. 2024

ความคิดเห็น • 446

  • @nicolasbenson009
    @nicolasbenson009 หลายเดือนก่อน +214

    I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

    • @TinaJames222
      @TinaJames222 หลายเดือนก่อน +3

      Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

    • @HectorWhitney
      @HectorWhitney หลายเดือนก่อน +2

      You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

    • @JohnSmith060
      @JohnSmith060 หลายเดือนก่อน +3

      Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

    • @HectorWhitney
      @HectorWhitney หลายเดือนก่อน +2

      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.

    • @BellamyGriffin19
      @BellamyGriffin19 หลายเดือนก่อน +3

      I located her through google, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.

  • @Taj-Mahal
    @Taj-Mahal 4 หลายเดือนก่อน +63

    The prices need to come down, not the interest rates.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน +2

      Correct, but Realtors know what side their bread is buttered on. Low rates makes prices go up, and that inflates the commission check.

    • @KevinFosterokc
      @KevinFosterokc 4 หลายเดือนก่อน

      Rate does not matter

    • @bobsacamano7653
      @bobsacamano7653 4 หลายเดือนก่อน +2

      exactly Too much greed.

    • @SarahS1214
      @SarahS1214 4 หลายเดือนก่อน +3

      @@Taj-Mahal I would say both to help more to afford single retirement income. I can’t afford $400000+ house.

    • @dan-qe1tb
      @dan-qe1tb 4 หลายเดือนก่อน

      @@SarahS1214 I can afford, "a", $650k house. You might be able to make more money, if you worked on your English?

  • @MrFargo1001
    @MrFargo1001 4 หลายเดือนก่อน +78

    I don't know what this woman's smoking but there are not a bunch of buyers out there. Buyers are people who can BUY. Very few people can afford home prices today, thus, they are NOT buyers!

    • @The_Turd_Ferguson
      @The_Turd_Ferguson 4 หลายเดือนก่อน +13

      nah, depends on the market and price point scooter. Low price point trash house in bumfuck kansas, not a lot of buyers. mid high to high range in a metro area, plenty of buyers. paying cash.

    • @lickalotlickalot2210
      @lickalotlickalot2210 4 หลายเดือนก่อน

      Her channel is all about house buying or selling so of course she wanted more transactions! When interest rates are so high and homeowners are still in lalaland thinking their homes are still at their peak price like 4 yrs ago! The few cash payers are very selective and by now already bought their overpriced homes.

    • @Phantoma3
      @Phantoma3 4 หลายเดือนก่อน

      Companies like Blackrock want you to sell so they buy.

    • @srryan1
      @srryan1 4 หลายเดือนก่อน +3

      I been wating to buy since 2021

    • @dan-qe1tb
      @dan-qe1tb 4 หลายเดือนก่อน +3

      There are a bunch of buyers out there in my zip code. Lots of people can afford home prices today. Few of my peers don't make six figures.

  • @thekirksiffs5285
    @thekirksiffs5285 4 หลายเดือนก่อน +23

    I wouldn't mind if the market housing crashed some. Prices are so out of control for home buyers. I'd love to see a moratorium on corporate and foreign investors hoarding properties.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      Any young person who voted for Biden (I am neither) should be outraged that the party that supposedly is for the "little guy" did absolutely NOTHING to stem the great investor incursion into residential real estate, nor all the foreign camping of capital (much of it from Chinese who are scared their own market is imploding...because it is).

    • @coreenaburke5378
      @coreenaburke5378 4 หลายเดือนก่อน +4

      Yes! This! It should be against the law! They are causing housing crises.
      A town in Mo. we like to visit had some tourism, now it looks to me as if it has been bought out and the homes all turned into B & B's Some already were. It just seemed strange to me.
      I wonder if the locals who were older, have passed, and the younger people have gone elsewhere? Or the younger people who are left cannot afford to buy the homes and they sold out or what has really happened. I truly felt a little uncomfortable about it.

  • @mahoser64
    @mahoser64 4 หลายเดือนก่อน +23

    In 2010 I bought my CONDO in FLORIDA $204,000 in a short- sell for $35,000 CASH so that is 83% DROP IN PRICE!!! PRAISE GOD!!!

    • @carpediem44
      @carpediem44 4 หลายเดือนก่อน +2

      I'd sell it and get out of there.

    • @gokhancinar
      @gokhancinar 4 หลายเดือนก่อน

      Hoa?

    • @609collector
      @609collector 4 หลายเดือนก่อน +1

      Is your condo one of the ones being hit with a ton of fees so it can get up to code?

    • @coreenaburke5378
      @coreenaburke5378 4 หลายเดือนก่อน

      @@mahoser64 Wow!

    • @coreenaburke5378
      @coreenaburke5378 4 หลายเดือนก่อน

      @@mahoser64 Can it be insured? The insurance companies arnt insuring anymore in hurricane zones, flood zones, fire zones, tornado zones, border states, high crime areas, or anywhere the wind blows.

  • @terryneeld732
    @terryneeld732 4 หลายเดือนก่อน +8

    When Peter Schiff said home prices would crash 80 - 90% "against real money", which is gold. In other words, RE will crash 80%+ against gold.

    • @salonnsavat2890
      @salonnsavat2890 4 หลายเดือนก่อน

      Was looking for this. This concept will, and has been, going over so many heads. Including hers apparently.

  • @jdbgq1
    @jdbgq1 4 หลายเดือนก่อน +26

    She's clueless. Ever lived through a Florida crash in 2008? Was able to buy my house for 169,000. Selling now 7 years later for 350,000. Yes there will be a crash of 50 to 80 percent. I've lived through a crash. Most realtors haven't. People thought Peter Schiff was crazy in 2006. 2007/8 hardcore crash. I agreed with him. Things have only begun. Enjoy the show everyone.

  • @beautiful4days
    @beautiful4days 4 หลายเดือนก่อน +11

    Don't forget HOA nightmares. They can increase at anytime and they will foreclose on you if you miss payments. Find HOA free property if you can.

    • @zetamale7952
      @zetamale7952 4 หลายเดือนก่อน +1

      Sold mine a few years ago. Those are terrible places to live.

  • @UrbanAssetProtection
    @UrbanAssetProtection 4 หลายเดือนก่อน +6

    He's referring to the Drastic Loss in Terms of Gold: If we imagine a scenario where the value of gold increases significantly due to economic instability or hyperinflation, and home prices (in fiat) do not rise at the same pace, your home could lose 80-90% of its value when measured in gold. For example, if a home was worth 100 ounces of gold at one point, and due to economic shifts, it later is worth only 10-20 ounces, you've experienced an 80-90% loss in value in terms of gold, even if the home's price in dollars has remained the same or increased.

  • @militaryhomes6292
    @militaryhomes6292 4 หลายเดือนก่อน +18

    We had our house for 5 years but the kids were getting older and we wanted to move to a different area. It's not for everyone but we decided that we'd sell the house and rent in the area we want to move. It'll give us more time to decide if we definitely want to buy in the area. We are borderline minimalist so moving is a pain but it's not a mountain of a job.
    The pods company really is a game changer because you can have them for a month and move your stuff in when you have the time... Just don't move to an HOA where they complain about it. Lol

    • @JoshuaTrinityWolf-dc4up
      @JoshuaTrinityWolf-dc4up 4 หลายเดือนก่อน

      25 years working Psychology, psychiatric and behaviour as a DSW. Do, not move children over the age of 4 due to the unstable emotions of children. Think of a child as nitro and moving that chemical can be explosive.Moving in the same neighborhood is fine but moving a 12 year old can cause bullying, children attaching to the lowest group of losers and drug addicts or criminal minds.I have seen moves destroy many children.Move after the children are 18.

    • @militaryhomes6292
      @militaryhomes6292 4 หลายเดือนก่อน +1

      @@JoshuaTrinityWolf-dc4up well that's good to know. We are a military family so moving is kinda unavoidable.

    • @KAZHE63
      @KAZHE63 4 หลายเดือนก่อน +1

      We are doing the same thing! Renting for a year and let the dust settle from all the moving pieces.

  • @climateandculture9526
    @climateandculture9526 4 หลายเดือนก่อน +9

    In Boca Raton, there was a house that I was looking at that sold for 140k about seven years ago. They were asking 1.4 million in the spring and 1.2 by the start of summer. I could see it dropping back to 2019 prices. The cost of home insurance it through the roof. Taxes are up and Florida living isn’t what it used to be so I can imagine a fall from peak asking prices. I feel bad for anyone who over spent in the last few years.

  • @savioursoul
    @savioursoul 4 หลายเดือนก่อน +4

    The prices of homes in the NYC suburbs have been coming down for the past 4 or 5 months. We're seeing up to 10% drops in house prices from a year ago.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน

      Thank you for sharing is! It's always great to hear insights from different areas

  • @ann419
    @ann419 4 หลายเดือนก่อน +27

    I think the "80-90% drop in value" means an 80-90% drop in *equity.* That's why Peter Schiff mumbles "on a cash basis" after stating the click bait line. If someone buys a $300k house and currently has $60,000 (20%) in equity, the value of the house needs to fall only 18% ($54k) for the equity to be reduced to $6k. A drop in equity from $60k to $6k is a 90% drop in equity. Said another way, if someone has 20% equity in the home, a home value decline of 16%-18% would result in an equity decline of 80%-90%.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน +10

      Ah!! Thank you!! That makes total sense now! You are the only person that has been able to state what he meant. I mean… really.

    • @wannastayfree8115
      @wannastayfree8115 4 หลายเดือนก่อน +3

      I was just going to reiterate what you posted. Well said! Market conditions Nationwide are dropping-just at different speeds Interest rates imo are just now coming back to “norms” based off economic data, in fact they should be higher. My first home had an interest rate of 18% in ‘83. The house cost $40k. It sold last year at over $400k. Craziness!!

    • @charischarichera8358
      @charischarichera8358 4 หลายเดือนก่อน +1

      Smart guy talking here. Surprised, the knowledgeable lady of this video was clueless.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      No, he just means in terms of Gold...because he sells gold lol. But he's technically correct as the dollar will ALWAYS lose value against gold, so yes, someday, every home will in fact lose 80-90%, in real terms, but it won't really matter if it happens slowly and incomes inflate commensurately.

  • @timk8830
    @timk8830 4 หลายเดือนก่อน +10

    He said housing prices down 90% in real money. That's Gold and Silver.

    • @sunso1991
      @sunso1991 4 หลายเดือนก่อน

      exactly.
      most people have no concept of real value and real purchasing power,
      which is why government can trick people with inflation the hidden tax

  • @bobsacamano7653
    @bobsacamano7653 4 หลายเดือนก่อน +5

    What he says is true and real money is gold and silver.
    This happened in 2011 after the 2008 crash gold and silver rose by 300% or more and housing bottomed out by about 50% or more in some markets.

  • @sunso1991
    @sunso1991 4 หลายเดือนก่อน +5

    Peter Schiff's 80-90% loss is "in terms of real money" and investment property (1:43). I watched that episode 2 weeks ago. what he is talking about is the equity you have investment property will dwindle in the next 10-20 years due to ever growing inflation assessment property taxes and insurance requirement, coupled with lower property demand. where income/revenue is not growing fast enough to cover the run away cost. and when you sell, you either sell at a real loss due to lowered demand (already happening in San Fran and NYC. or like AT&T Center in St. Louis was sold in 2024 for 3 million, an 98% reduction from its former $205 mil sold price in 2006). or sell at the inflated price and got taxed on the gain, but after property tax, maintenance cost, you actually lost money in the investment. compare to holding gold or a diversified investment portfolio

  • @sarawilliam696
    @sarawilliam696 3 หลายเดือนก่อน +3

    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.

    • @PatrickFitzgerald-cx6io
      @PatrickFitzgerald-cx6io 3 หลายเดือนก่อน +2

      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!

    • @foden700
      @foden700 3 หลายเดือนก่อน +1

      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.

    • @Justinmeyer1000
      @Justinmeyer1000 3 หลายเดือนก่อน +1

      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?

    • @foden700
      @foden700 3 หลายเดือนก่อน

      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.

    • @Justinmeyer1000
      @Justinmeyer1000 3 หลายเดือนก่อน +1

      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.

  • @deelehey2827
    @deelehey2827 4 หลายเดือนก่อน +3

    Home buying season in Naples Florida is October thru March.

  • @silverbulletreport8567
    @silverbulletreport8567 4 หลายเดือนก่อน +7

    I’m all for optimism but this video will not age well..We heard the same sentiment from real estate agents/brokers right before the 2008 real estate crisis and homes are more over valued (above the mean average) now than they were then,not to mention our looming debt crisis.We just had 56,000 contracts cancelled in july (height of the buying season) which is the most in july in our history.I also remain optimistic but a typical mean reversion of 25-35% in areas that experienced growth is most likely in the cards.Regarding Peter Schiff and his prediction it does seem outlandish i agree but lets not forget he and Michael burry were the only two who correctly called the 2008 housing crash and everyone called them crazy back then as well for what its worth🤷🏻‍♂️

    • @jimdrums4life499
      @jimdrums4life499 4 หลายเดือนก่อน

      Only reason the crash hasn't happened is because we've printed about 60% of the $USD in circulation in the last 15 years!!!- making the bubble and next crash exponentially bigger. It's just a question of 'when'.

  • @johnlabus7359
    @johnlabus7359 4 หลายเดือนก่อน +43

    There's this one TH-camr who has been predicting crashes for years. I just get the feeling that he wants certain markets to fail so that he can swoop in and buy up good properties at opportune times. I could be wrong, but that's just the feeling that I get.

    • @Jessica-xx7nt
      @Jessica-xx7nt 4 หลายเดือนก่อน +8

      I understand it’s his job and they have to make money too, but it feels gross that people are out there profiting from other peoples fear and anxiety.

    • @ChrisGenXer
      @ChrisGenXer 4 หลายเดือนก่อน

      @@johnlabus7359 I believe that’s Sachs Reality, but the guy is a Broker and has real estate agents working for him, so I’m not sure why he’d want the market to crash. I really wasn’t trying to be a jerk either. I’m not an expert by any stretch, but I read and listen to housing market experts, loan officers, economists, and investors like George Gammon, Jeff Snider, Stephanie Pomboy, Danielle Demartino, Art Lafferty, Real Estate Mindset, and Melody Wright and there is a lot going on in our economy and Globally that’s going to impact assets (stocks, houses, commercial real estate, pension funds, etc.). Thing is, it takes a long time for assets to start going down because our government does everything they can to keep assets high when they consistently inject liquidity into the market. We probably would have already seen a turn had it not been for Government involvement. That’s the wild card, signs have been trending for the last two years that something bad was coming, and we inch closer to that catastrophic event happening. For housing,
      I highly recommend listening to Melody Wright. She is very analytical and digs into the data, as well as provides a detailed explanation of that data.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      In many if not most cities in America, prices peaked in May/June 2022 (type in FRED MSPUS in Google if you don't believe me), so those people who have been "incorrectly calling for a crash for years" will actually end up being correct since mid 2022 if the crash continues and or accelerates for the next couple of years (which both math and history say will happen).

    • @kagnewcobra5228
      @kagnewcobra5228 4 หลายเดือนก่อน

      Good chance a TH-camr has no money to "swoop in". They are just actors trying to get views. Nothing more. Nothing less. Just like this broad.

    • @srryan1
      @srryan1 4 หลายเดือนก่อน

      You talking about the economic ninja

  • @Steven_94
    @Steven_94 4 หลายเดือนก่อน +8

    Lack of inventory? Inventory is skyrocketing and many are backing out of offers. Inflation, interest rates, and house insurance are not worth it.

    • @congraciaysalud
      @congraciaysalud 4 หลายเดือนก่อน +1

      Not in my state. Real estate is local.

    • @Steven_94
      @Steven_94 4 หลายเดือนก่อน

      @@congraciaysalud oh OK, so institution's like Black Rock in your area buying up homes?

    • @matthewsmith2362
      @matthewsmith2362 4 หลายเดือนก่อน

      Thank you!
      I live in a little town by the beach, inventory is always tight. The town next door is a little less desirable and I am seeing double the single family inventory from last year in summer

    • @sherirottweilersforever7772
      @sherirottweilersforever7772 4 หลายเดือนก่อน

      Only 2 mobile homes and a cabin for sale in my Western Washington city.

    • @V3G4SBoY
      @V3G4SBoY 4 หลายเดือนก่อน

      las vegas has only 3500 houses on the inventory.... I want to buy a couple of houses. but no way i will buy them on top of the cycle, Low inventory doesnt help.

  • @pennystonks2838
    @pennystonks2838 4 หลายเดือนก่อน +10

    Thank you for such a sane and unbiased approach. I follow you and Audra Lambert, and both of you are always very pragmatic and don’t just do Clickbait videos, but give good information. I’m trying to sell my house in Texas and yes, things are much slower here now and we are seeing houses cut their prices, but I don’t believe there is going to be a market crash. We are just hanging on in there and one day we will find our buyer. Sooner than later, I hope. Fingers crossed.

    • @johnnynick6179
      @johnnynick6179 4 หลายเดือนก่อน +1

      Yeah - you just hold out for that price. A Realtor would never lie to you. I'm sure you'll get that absurdly high price you want - just not in this century.

  • @BuxomBlonde2008
    @BuxomBlonde2008 4 หลายเดือนก่อน +3

    I remember in Florida when everyone was saying it's not going to get cheaper. The crash hit 3 months later and so many people ended up losing everything.

  • @1000Strom
    @1000Strom 4 หลายเดือนก่อน +3

    Peter Shiff is talking about purchasing power because of food, energy etc.. costing more.

  • @kathygann7632
    @kathygann7632 4 หลายเดือนก่อน +2

    I just want to send you a huge hug and a thank you. I watched a number of your videos when I decided to sell my 1974 924 square foot condo in Westlake Village, CA. My real estate agent, who I found through you, was surprised at the preparations I had made. He said it looked professionally staged. It sold in 10 days. I bought it for $219,000 in 2011 and sold it for $590,000. Thank you so much for teaching me what I needed to know. I’ve now bought a 2018 2022 square foot home in Arizona that is so much nicer which cost $30,000 less than the people paid for my condo. I feel like I now live in a resort. During the week my furniture was delivered, my daughter and granddaughter visited and loved it. My granddaughter spent hours in my pool each day. You have made my dreams come true. Thank you so much!

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน

      Oh I’m so happy for you!!! And I’m so glad that I helped!! Keep in touch!

  • @1138prometheus
    @1138prometheus 4 หลายเดือนก่อน +5

    The 90% number is probably exaggerated for shock value but I think what a lot of Realtors are missing cuz believe me they did the last time as well. The decline does not take place in a 12-month period or in a "buying season" the decline takes place over 3 to 5 years. That's 3 to 5 years of declining prices. So although it may not reach 90%, the end percentage reduction will depend on how much panic or job loss accelerates the fall which will depend on when the economy starts putting people back to work sufficiently compensated to buy. Not rocket science. Just repeating what happened the last time

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน +2

      Here's the thing. It was said to scare people. I mean if we have to jump through hoops to understand it and I am in the industry, the average american has zero idea.

  • @youtubechannels9205
    @youtubechannels9205 4 หลายเดือนก่อน +4

    If you sell your house for $1 billion and 1oz of gold is $1 billion, then your house crashed over 90%. That's what Shiff meant. It happened in 1920s Germany.
    He said real money, not dead dollars.

  • @sawtoothbygeorge
    @sawtoothbygeorge 4 หลายเดือนก่อน

    Are banks (lenders) appraising homes at the asking prices? If they are, good by america.

  • @dmd4200
    @dmd4200 4 หลายเดือนก่อน +1

    He means in terms of gold. If you notice, gold is climbing in value, at all time highs. The dollar is declining in value.

  • @ChicaG-vg7pj
    @ChicaG-vg7pj 4 หลายเดือนก่อน +18

    If the US mortgage rate is 6-7%, those are not sky high rates. Those are more normal rates than we've seen in the last decade or so.

    • @cmf6081
      @cmf6081 4 หลายเดือนก่อน +2

      I remember when the Mortgage interest rates were 11% to 13% in the late 1970's.

    • @jeandurand3092
      @jeandurand3092 4 หลายเดือนก่อน +6

      The problem is not the mortgage rates but the price which means higher taxes and higher insurance. In fact rates should stay as they are or move higher if inflation continues . That would bring all other expenses down.

    • @daboss6385
      @daboss6385 4 หลายเดือนก่อน

      ⁠@@jeandurand3092absolutely agree the prices need to come down the rates are normal but affordability is not on par with salaries

    • @olhahoy6404
      @olhahoy6404 4 หลายเดือนก่อน +2

      Rate is not that important as the price of the house and the total cost of owning. It’s just too high - median earner cannot afford median priced house.

    • @Diagonalforward79
      @Diagonalforward79 4 หลายเดือนก่อน +2

      Yeah but income to home ratio was much more favorable in the 70s. It has 5x since then.

  • @bettywarren1559
    @bettywarren1559 4 หลายเดือนก่อน +6

    If you look at commercial real estate, some buildings have already sold for 80-90% off. That will translate to retail in about a year.

    • @congraciaysalud
      @congraciaysalud 4 หลายเดือนก่อน

      Yes, commercial and office space are in a mess.

  • @MikeKassel-vk7ue
    @MikeKassel-vk7ue 4 หลายเดือนก่อน +3

    I like Peter Schiff ,and he is brilliant , however one must take into consideration, he sells gold & Silver etc.When he's talking about value and real money ,its based on that.

  • @elizabethlibero1878
    @elizabethlibero1878 หลายเดือนก่อน

    Depends on where in Florida

  • @schoolofthoughtedu
    @schoolofthoughtedu 4 หลายเดือนก่อน +2

    87% drop in Portland Oregon on a commercial bldg.

  • @bobsacamano7653
    @bobsacamano7653 4 หลายเดือนก่อน +2

    Not buying until prices drop by 50% where I live or I will move to where housing is cheap.

  • @MrJlnightshade
    @MrJlnightshade 4 หลายเดือนก่อน +8

    Historically, current interest rates aren't the problem. Prices are. There needs to be a housing market correction. Every housing market is different, but home prices need to adjust roughly 25% down for most average middle-class income wage earners to buy a first home. Unfortunately, anyone who bought a house recently will likely be upside-down in their home. This will prevent them from refinancing and likely selling without taking a loss. Anyone who barrowed against the enhanced value of their home will also likely be upside-down and in the same predicament. I really hope interest rates dont suddenly drop, or we will be right back where we started.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน

      Very good points!

    • @ahealthyyouwithdoctornew9749
      @ahealthyyouwithdoctornew9749 4 หลายเดือนก่อน +1

      I've seen $50K - $100K reduction in prices in a new development I've followed all summer. I just saw one home listed at $20K less than what they purchased the home for in June 2023. That's a forced selling situation, and I do feel sorry for that person. Unfortunately, their home is higher than brand new homes (same floorplan) in the development. I'm seeing significant drops and am looking forward to more. The interest rate is not the motivating factor for me. I'm glad my realtor doesn't try to sell me on that. We'd have to break up!!!😥

  • @donaldwagner9474
    @donaldwagner9474 4 หลายเดือนก่อน +3

    If you can work from home somebody living in India can do your job.

  • @KM-zn3lx
    @KM-zn3lx 4 หลายเดือนก่อน

    Any advice on a loved one who bought a house with 8 acres of land that is not good for raising plants and the home isn't in that good of shape? Its in Missouri and the house was prettied up for sale, but floors are warped, deck ynfinished and warping, there's give in part of floor and bathroom plumbing is not good. We have helped him a few times but we are older and need to take care of ourselves. We think he should sell and possibly short sell at that. They think they're homesteading, but no action we can see. My son only makes 70,000 a year and bought the house for 268,000. He barely has $ for upkeep, car repairs (we paid last time!), food and clothing. He bought the house from Portland, Ore viewed only pictures and he was allowed to finance it without an inspection. He ignored our advice to start with. I'm afraid they'll lose the house and think we'll take them in. Our house is small, only 2 bedrooms.

  • @raymond_sycamore
    @raymond_sycamore 4 หลายเดือนก่อน +3

    Yeah, it sucks. I've been on the market for over 50 days now and had only one offer massively under listing and demanding unreasonable "structural" inspections. Not a dud of a house, either. God, I just want my damn money back.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน

      I hear you and empathize

  • @lynnvarner5383
    @lynnvarner5383 4 หลายเดือนก่อน +21

    Kati, yes, we are those people who need to downsize not only the home size but also the property size, on 20 acres now. But we haven't decided where to go! I'm dreading the entire process, honestly.

    • @mylegalassistants
      @mylegalassistants 4 หลายเดือนก่อน +4

      We're in the same boat as y'all... it's so hard to figure out what to do 😢

    • @SarahS1214
      @SarahS1214 4 หลายเดือนก่อน +4

      Same boat but can’t afford the housing at the prices they’re at. Glad to see interest rates starting to come down some. Don’t want to live in a trailer park!

    • @davidlambert7937
      @davidlambert7937 4 หลายเดือนก่อน

      ​@@SarahS1214hey I live in a trailer park

    • @elizabethdaniels51
      @elizabethdaniels51 4 หลายเดือนก่อน +2

      We were in the same boat and after retiring at 58 and 59, we tried and tried to find a small home, ranch maybe, 2 bed 2bath that we actually could get excited about moving to. It was so disappointing. Needed to sell our 3600+ sq ft family home with large yard, deck, etc. so we could travel more. We even checked condos but the ones we saw were awful, no charm, high HOA and felt frustrated for years looking. So this year, at 62, we both decided to sell in early Spring and we were able to sell in a day. It was amazing. For these past 4-6 yrs we have been selling things, donating and giving to our three kids for their new homes. So we have reduced our belongings by 85%, made a bunch of cash selling stuff and living minimally now in an apt with full amenities. It is wonderful! We don’t regret getting rid of one item we owned. And we are relieved to have sold the house when we did, so we can enjoy our family, travel and entertain friends with the pool and amenities here. Our plan is 15 months here and then reeval. Rent deals are great in winter, so you can sign on and go for it. This is not forever, but it is for now! And it is fun. We’ve never doubted our decision. And we keep letting go of more stuff!

  • @misterogers9423
    @misterogers9423 2 หลายเดือนก่อน

    Unless you are in an area with an extreme seller's market with the insurance companies pulling out, I would not worry too much. Even areas within a weak city can still show strength all based on supply and demand. If you are in certain parts of the NE, this is all pointless noise.

  • @adembajrami1373
    @adembajrami1373 4 หลายเดือนก่อน +5

    the houses cost it way more in 2005 than they cost today i did the math when i purchased my first house at $155k at that time that was in gold weight value 387oz do the math how much is in today market the value of 387oz of gold $968,750 so he’s perfectly correct

  • @cortez9978
    @cortez9978 4 หลายเดือนก่อน +96

    People will have to accept reality that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. I now look towards the stock market to fuel my millionaire goal. Sure I'm not alone in my chain of thoughts.

    • @M.Herlihy
      @M.Herlihy 4 หลายเดือนก่อน +4

      U.S. stocks have historically been the best investment. Much safer than real estate. Treat it like real estate, don't panic sell and impulse buy.

    • @Ballesteros-d
      @Ballesteros-d 4 หลายเดือนก่อน +2

      I like both. But in my experience, most of the millionaires that I know have gained their wealth through diversified investments and they all had a sort of advisor helping out with informed decisions.

    • @Marquis-9
      @Marquis-9 4 หลายเดือนก่อน +3

      Agreed, advisors are ideal reps for investing jobs, and straight up! that's how I’ve stayed afloat for 5 years now, accruing over $1m in return on investment, after 100s of thousands invested. IMO, home prices will need to fall at least 40% before the market normalizes.

    • @Curran-m-i
      @Curran-m-i 4 หลายเดือนก่อน +1

      @@Marquis-9 real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed !! who is your advisor please, if you dont mind me asking? in dire need of portfolio restructuring

    • @Marquis-9
      @Marquis-9 4 หลายเดือนก่อน +2

      She goes by ‘’Ellen Geskin Kettle’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.

  • @deedsh6280
    @deedsh6280 4 หลายเดือนก่อน +2

    Great video, well-thought out points of reason vs panic. And I agree on supply and demand, impact of remote work, affordability factors, etc. Thanks for bringing up the facts vs the hype.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน +1

      Thanks so much! Appreciate it!

  • @eduardocorrea530
    @eduardocorrea530 4 หลายเดือนก่อน +12

    Depending on your location, the market can be either robust or crashing. Places like Fl and Tx where values jumped 50%-100% in value in just 5 years, there is a real and logical risk of a crash (remember you are defining crash as 20% or more) places like the northeast, where values have risen slow and steady (more in line with historical trends) there is less to little risk of a crash. We all have to take into account unemployement, the reduction of work from home opportunities, and the high levels of debt Americans have taken on. A slight reduction in interest rates is not going to solve high home prices. Taxes have risen, insurance has risen, only lower home prices are going to get people back into buying homes.

    • @robertgrey5993
      @robertgrey5993 4 หลายเดือนก่อน

      Well said.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      The Northeast blew up as a direct result of it becoming too unappealing to keep paying top dollar just to live/invest in the South/Gulf/smile states. Those places are nice, but not nice enough to pay near California prices for. So all of a sudden those $160K homes up north became attractive and got bid up badly. But I think that as soon as the builders bring balance back to those Southern regions, the Northeast/Midwest should come back down to earth as well.

    • @dan-qe1tb
      @dan-qe1tb 4 หลายเดือนก่อน

      The Nick Girly, "the buyers are on strike" line is false. The following people are still buying homes. 1. People who can afford higher taxes. 2. People who can afford higher insurance. 3. People who can afford higher home prices. People can't expect property taxes and insurance not to go up: businesses face inflation just like the homeowners do.

    • @eduardocorrea530
      @eduardocorrea530 4 หลายเดือนก่อน

      @@dan-qe1tb Yes, insurance, taxes, home values always go up over time. So do salaries. But there is this little thing about real estate and its the Value to Income ratio. As salaries rise, so do home values, which in turn raise insurance and taxes. The problem becomes when home values rise up to high in a short time, but salaries do not rise at the same rate. Throws off the Value to income ratio, MORE buyers cannot afford to buy the homes. In many places in FL, home prices have doubled and many even more than double IN JUST THE LAST 5 YEARS. The incomes in FL have not doubled in that same time. There are only so any retirees/wealthy that will move to FL with wealth already. People who live and work in the state need to be able to afford the prices, so local income definitely plays a part in establishing what home prices will be. This is why FL has the highest level of inventory in the country right now.

  • @cindygu2175
    @cindygu2175 4 หลายเดือนก่อน +2

    Perfect timing for this information! I was thinking about selling my house in Texas. I have been thinking about this for a long time, and move to Florida where my daughter and her family live. Very helpful. Thank you for sharing your knowledge.

    • @seabreeze8467
      @seabreeze8467 4 หลายเดือนก่อน

      just curious, what area in FL? I'm familiar with Central and South Florida and know very good realtors in both areas.

    • @cindygu2175
      @cindygu2175 4 หลายเดือนก่อน

      @@seabreeze8467 Santa Rosa Beach

  • @harveypaxton1232
    @harveypaxton1232 4 หลายเดือนก่อน +1

    According to MLS there is more available properties than in 2008? This should drop prices but 80-90% probably not!

  • @tamb7587
    @tamb7587 4 หลายเดือนก่อน

    I think they are talking about prices coming down from the over inflated 2021 ..

  • @alanfenn9820
    @alanfenn9820 4 หลายเดือนก่อน +1

    Thanks for your outline. I love your information as it’s quite objective in places
    However…
    Some things to note:
    * These predictions are coming from highly regarded persons in Warren Buffet AND Harry Dent AND Danielle DiMartino- Booth etc ( Not Cowboys)
    * Statistics and Analyses support the above persons
    * Inflation IS HURTING most families
    * Home affordability HAS NEVER been as extreme compared to wages V purchasing power
    Lots more to include but that’ll do for now
    As I said above, I love your outline BUT let’s view ALL OF THIS realistically
    Thanks 😊

  • @kiernan880
    @kiernan880 4 หลายเดือนก่อน +2

    The same people who believe that there is NO crash coming believed there was NO crash coming in 2007-2008. There IS a crash coming.

  • @conni222
    @conni222 4 หลายเดือนก่อน +4

    I have seen 60 to 100k lost on a 650k homes. It is bad not sure where you are. As we know people will always sell and buy I am in Texas and it started over a year ago

  • @danielesbordone1871
    @danielesbordone1871 3 หลายเดือนก่อน

    Canadian home prices have gone up more than 100% since 2015 , that's only 9 years. Any asset that can surge this much in so little time can also crash easily 50-60%.

  • @b1crusade384
    @b1crusade384 4 หลายเดือนก่อน

    8:35 Great video. Looking at facts rather than saying misinformation to stir emotions.

  • @kentschrader3900
    @kentschrader3900 4 หลายเดือนก่อน

    As far as "dating the rate" and refinancing, even if a house appraises okay, the value will affect whether or not one will need mortgage insurance on the new loan, and if so, what it will cost. TOTAL loan under 80% = usually no mortgage insurance. The cost goes higher as the ratio of loan amount to home value gets higher. If credit scores have fallen, that can push mortgage insurance costs a lot higher and can even negate any savings from a lower interest rate. On the positive side, if you had to have mortgage insurance when you bought and now your value is higher and/or your credit scores have improved, you could enjoy both lower interest costs and lower cost (or no) mortgage insurance. If it hasn't been too long (less than 2 years), you could possibly get a refund of part of the mortgage insurance premium from the original loan. The rules are a little different on refinances vs purchases so check with a lender before making any decisions!

  • @GillerHeston
    @GillerHeston 4 หลายเดือนก่อน +8

    I’m closing in on my retirement and I’d like to move from Minnesota to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?

    • @rogerwheelers4322
      @rogerwheelers4322 4 หลายเดือนก่อน +7

      Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

    • @joshbarney114
      @joshbarney114 4 หลายเดือนก่อน +7

      A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.

    • @FabioOdelega876
      @FabioOdelega876 4 หลายเดือนก่อน +5

      @@joshbarney114 I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?

    • @joshbarney114
      @joshbarney114 4 หลายเดือนก่อน +7

      Finding financial advisors like *Marisa Breton Dollard* 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.

    • @FabioOdelega876
      @FabioOdelega876 4 หลายเดือนก่อน +6

      Thank you for this tip , I must say Marisa, appears to be quite knowledgeable. After coming across her webpage, I thoroughly went through her resume, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.

  • @99dynasty
    @99dynasty 4 หลายเดือนก่อน +1

    Every single person I know in my personal life across different regions says prices are too high. It’s a game of chicken many of these people have just decided they are going to wait. It depends on how the scales tip as to what happens.

  • @ExileXCross
    @ExileXCross 4 หลายเดือนก่อน

    He said it right there "in terms of actual money" meaning people who have positive equity in their homes 80-90% of that is going away e.g. round about way of saying home prices are going to drop back to pre-bubble prices.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน

      Right. But then he should have explained that for the average seller. Not someone in finance. My viewers have had their homes for 20-30 years. They will be fine.

    • @ExileXCross
      @ExileXCross 4 หลายเดือนก่อน

      @@KatiSpaniak As long as they didn't dip into that equity for something like a car, college tuition, or 2nd home(big oof).

  • @jkulikova
    @jkulikova 4 หลายเดือนก่อน +18

    I am confused. Am I hearing things, or do you actually criticize click bates “market crash” videos in the video titled “Time to PANIC!” (yes, “shouting” that last word) and then go on for 10 minutes explaining why this is not the case? (I won’t spend another 10 minutes of my life listening to the general realtor’s sell pitch).

    • @hustlelanes
      @hustlelanes 4 หลายเดือนก่อน

      😂😂

    • @nb7524
      @nb7524 4 หลายเดือนก่อน +2

      THANK YOU! I was just getting ready to comment regarding her clickbait title. She is equally guilty. It is concerning and stressful enough for many Americans without realtors like her adding to it all for the sake of more viewership on their videos. There are so many other ways she could’ve titled this video for viewership which I definitely would have watched and “liked”. I wouldn’t choose a realtor who does this, it is a blemish on the reputation of all realtors. While she has gotten viewership and a comment from me which benefits her, I also just got a question from TH-cam asking if I find this video helpful.

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน +2

      She was actually all over the map, but I'll give her this...she did try to convince stubborn sellers to stop dreaming about getting 2022 prices...

    • @misterogers9423
      @misterogers9423 2 หลายเดือนก่อน

      The truth is more nuanced. Depends on the local market, but yes there is softening overall like what she said. The title was more click bait then the content.

  • @ceciliaferraro6360
    @ceciliaferraro6360 4 หลายเดือนก่อน

    .25 how is that going to help. No way I am using an agent again they burnt me way for too long. No more ripp off agent.

  • @kathrynp7595
    @kathrynp7595 4 หลายเดือนก่อน +6

    Luckily I am in California, our prop 13 caps the amount that property taxes can go up which is very low. Our insurance has gone up very little because we are not in a fire zone. Unfortunately, home prices are very high for new buyers. We bought our home when prices were much more reasonable. Our house has tripled in value. Unless we are moving to a new state which is not very likely because our daughters live close by I think we will stay put, it doesn’t make much sense to move.

    • @phoenixrising4762
      @phoenixrising4762 4 หลายเดือนก่อน +1

      Your home hasn't tripled, money is worth LESS, that's it.

    • @matthewsmith2362
      @matthewsmith2362 4 หลายเดือนก่อน +1

      Yea for example if you bought your place in the 70-80s it cost the same if not less in oz of gold today.

  • @macpduff2119
    @macpduff2119 4 หลายเดือนก่อน

    The Florida market tanked 2007-2008 but it came roaring back. It will again

  • @KevinKidwell-v3c
    @KevinKidwell-v3c 4 หลายเดือนก่อน

    Quality of the content of your video just made me a subscriber. Very professionally done.

  • @bryanupton9872
    @bryanupton9872 4 หลายเดือนก่อน

    Already seeing 12-15 homes for sale in my neighborhood here in Florida. Home on the street over went from 350k to 295k to get sold

  • @judithortiz-velazquez4992
    @judithortiz-velazquez4992 4 หลายเดือนก่อน +26

    My first thought is that the gentleman stating the value of home are or will drop 80-90% is trying to manipulate people emotionally so his company and/or others he represents can benefit. How? By taking advantage of people.

    • @RiverWoods111
      @RiverWoods111 4 หลายเดือนก่อน +1

      Did you notice the guy saying that was from "Sachs Reality". Hmmm... Sounds like he is trying to scare people into listing their houses and selling whether they want to or not so he can make a buck or 10 off of them. It is crazy!

    • @judithortiz-velazquez4992
      @judithortiz-velazquez4992 4 หลายเดือนก่อน +1

      @@RiverWoods111 good observation. 👌

    • @adembajrami1373
      @adembajrami1373 4 หลายเดือนก่อน +4

      no he’s got nothing to gain from that news he’s giving to us he’s not a real estate agent nor broker he’s a multi billionaire money manager he predicted 2006-7 real estate crash and he’s absolutely correct this time as well you on the other hand can gain a lot from this news if you’re prepared to get in the game after SHTF

    • @daboss6385
      @daboss6385 4 หลายเดือนก่อน

      If homes values are inflated by 40 to 60% then he is correct ✅. What ppl fail to realize is 😅😮is some home values rose by almost double in such a short time that’s not a sustainable market for the long run

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      He means in terms of Gold...because he sells gold lol. But he's technically correct as the dollar will ALWAYS lose value against gold, so yes, someday, every home will in fact lose 80-90%, in real terms, but it won't really matter if it happens slowly and incomes inflate commensurately.

  • @suzannesuzistiefelofloande4554
    @suzannesuzistiefelofloande4554 3 หลายเดือนก่อน

    It is apparent why you are leading agent in our market.

    • @KatiSpaniak
      @KatiSpaniak  3 หลายเดือนก่อน

      Awww. Thanks Suzanne!!

  • @dmd4200
    @dmd4200 4 หลายเดือนก่อน +1

    If you are an agent, you are lying if you say that you don't notice a major change in the housing market.

  • @blujeans9462
    @blujeans9462 4 หลายเดือนก่อน

    Excellent video! Alot of good points made. I sometimes watch the click-bait stuff and usually end up stopping after a few minutes - because you can tell it's all hype - and am tempted to call them out on it in the comments. I waited 36 years to make a small profit on my home in NJ. I thought I missed out because I didn't list in '22. When I was finally ready, I got more than it was ever worth during the time I owned it, but not 100s of thousands - just 10s of thousands. I sold it a few months ago and now I check out Zillow in the area and the (listing) prices are continuing to rise. I am still very happy with what I got because never in 36 years did I think it was possible. I hope these people get what they are asking - it's been a long time coming. They are perfect for the young folks that are whining that nothing is affordable. These are nice, well-built homes in a pretty nice area, but they've been stagnant for decades - no where near what similar homes in nearby neighborhoods have gotten for decades. When this happens, people start fixing their homes up - making upgrades - it's nice to see. You feel like you're throwing your money in the trash when you want to make your place look nice but the values don't warrant it.

  • @YideedNefesh
    @YideedNefesh 4 หลายเดือนก่อน

    Thank you for all you teach us!!

  • @robertgarrett7007
    @robertgarrett7007 4 หลายเดือนก่อน +1

    I thought he said a loss of 80% PRICE of homes. I didn’t hear him say an 80% loss of VALUE of homes. It kind of sounded like you lumped the two together.

  • @bonnieleighton8280
    @bonnieleighton8280 4 หลายเดือนก่อน

    As a pillow Realtor, I had a friend recommend your channel. I absolutely love how you describe things, especially some of the new situations we now find ourselves in. I subscribed to you because you help me figure out how to explain some of these things to my buyers, I hope that is OK. You are providing a great service. Thank you.

  • @FareigX
    @FareigX 4 หลายเดือนก่อน

    Make sure you check out the recent bldg sale in Portland OR that took a 87% cut from 2019 sale price of 255m, ya 87% of that! 33m to a local family real estate company.

  • @SarahS1214
    @SarahS1214 4 หลายเดือนก่อน

    Good advice Katie!

  • @JuanLopezmusica
    @JuanLopezmusica หลายเดือนก่อน

    Now in my area

  • @VR_investments
    @VR_investments 4 หลายเดือนก่อน

    If we really needed to sell we would offer it, but if we didn’t need to sell, I would never offer buyer commissions

  • @amanacatandhisdog8836
    @amanacatandhisdog8836 4 หลายเดือนก่อน

    My insurance here in central Texas went up about 50 month. The prices have dropped slightly. A bit more affordable compared for last year.

    • @amanacatandhisdog8836
      @amanacatandhisdog8836 4 หลายเดือนก่อน

      Property taxes were dropped for homeowners here in Texas w the homestead exemption.

  • @matthewsmith2362
    @matthewsmith2362 4 หลายเดือนก่อน

    I want to believe there is gonna be some downward pressure on home prices but the reality is my wife listed and sold a basic house for a fair price in one day last week. Full price offer. Cash.
    I watch the market close and things around me sell super fast as long as it’s not overpriced. The really expensive houses are sitting tho.

    • @savioursoul
      @savioursoul 4 หลายเดือนก่อน

      Not happening around here. Homes are sitting on the market for months.

  • @Geronimo2Fly
    @Geronimo2Fly 4 หลายเดือนก่อน

    As a homeowner, I would be thrilled if housing prices crashed. That would allow my daughter and her husband, and millions of others like them, to afford homes. Anyone older person who owns a home and wants to downsize would find it incredibly easy to do so, as the smaller houses would have shrunk in price as well. If you don't want to buy, then the capital gains tax the government imposes will wipe out a huge portion of your sales price anyway. Lower prices are a win for most people. also, it would help A LOT if we'd stop allowing the sale of homes to foreign investors who want them just for investment purposes and keep them vacant. Over 10% of residential units are currently vacant; that is insane. Foreigners should either be required to keep their properties occupied, or be prohibited from owning them all together.

  • @anitabruss9716
    @anitabruss9716 4 หลายเดือนก่อน

    That was informative I enjoyed it good job it's the first time I've seen you

  • @RachelWriter-zq4qh
    @RachelWriter-zq4qh 4 หลายเดือนก่อน

    “This guy…” is Peter Schiff. He called the 2007-2008 housing crash.

  • @lucybraun8969
    @lucybraun8969 3 หลายเดือนก่อน

    It's the larger homes that are more at risk. Smaller homes with lower interest rates spells young buyers. Retirees are also a strong segment of buyers for smaller homes, as they are looking for less to take care of. And in Missouri, retirees can get property taxes 100% reimbursed to them!

  • @richardgbensonjr
    @richardgbensonjr 4 หลายเดือนก่อน

    For those of us who bought houses in 2010/2011/2012 and have interest rates of 3.5% to 4% have no reason to sell.

  • @duanemcdonald6960
    @duanemcdonald6960 4 หลายเดือนก่อน

    Hit the nail on the head - there's tons of buyers... buuuttt affordability and wages/debt ratio are way off. If we can make a correction for incomes, the house market will look amazing again. Just need a little help + hope

  • @showdogmissy
    @showdogmissy 4 หลายเดือนก่อน

    Kati, you are correct that going thru a move & paying the same to have a smaller or even worse home is not worth it! IF the standard deduction for capital gains (250/500K) is bumped up, we might see more people "downsizing". I do not want to pay so much in taxes and it is short sighted of the government not to realize their part in housing availability bc of taxes. they actually LOSE because in my area we have prop 13.

  • @ChrisGenXer
    @ChrisGenXer 4 หลายเดือนก่อน +2

    I’m watching and heard you say the one thing that is going to crush buyers…and it’s the same thing other self- serving agents and companies like Zillow, Redfin, and Barbra Corcoran say in their articles…”we need interest rates to come down.” You are focusing on interest rates ONLY as the primary driver of consumers. Are you kidding me??? Housing prices need to come down! Median Housing costs 7 to 8 times median household income. This is higher than any other point in history, including the 80s when interest rates were much higher than they are now.
    I’m not trying to be mean, but you really need to assess the economy, the Japan Carry trade (that’s not even close to unraveling), the fraud in the housing market with property tax (this is making homes unaffordable as well), insurance rates going up 200% or more (especially in FL), the jobs market and increased layoffs…the list goes on. This is a terrible time to buy a house. I watch this and I can’t help but caution anyone who is listening to you about about buying a house anytime soon. I understand what you’re saying because as a real estate agent you need to sell houses so you can’t scare people away, that’s self destructive, but this cheerleading will put end up hurting buyers by stretching them to their financial limits to purchase an over priced house.
    I do agree, houses are not dropping 80%-90%, and real estate markets are local…hyper local. However, there will easily be 20%-30% corrections in certain areas of the untied states, especially where there has been mass building the last four years. The northeast looks to be about the most shielded from a big drop in prices, but down south and our west…that’s where you will see most of the corrections. It will be worse when we go into a recession.

    • @KatiSpaniak
      @KatiSpaniak  4 หลายเดือนก่อน +1

      I agree prices are too high because of everything you’re saying. I don’t disagree with anything other I am just trying to push people to buy. In fact I tell people now is not the time to buy if you can. However many in my audience are older and have had their homes for many years and they are being scared into selling right this minute because they believe they are going to lose a lot of money. If you were a viewer of mine ongoing you’d see that I am one of the most honest agents out there who tell it how it is and state the truth. I see buyers every single day who are struggling to buy. I hear you.

  • @bethanyw777
    @bethanyw777 4 หลายเดือนก่อน

    I saw those podcasts too. These economists were saying the crash may be more over the next year or two, not today/right now.

  • @ftrudeau
    @ftrudeau 4 หลายเดือนก่อน

    Bankruptcies are high, market is flooded, already down -60% and foreclosures are way up!

  • @larrynusbaum9193
    @larrynusbaum9193 4 หลายเดือนก่อน

    Peter Schiff has been talking about crashing markets for 40 years and gold since 2004.

    • @wannastayfree8115
      @wannastayfree8115 4 หลายเดือนก่อน +1

      You are 100% correct. Glad I listened to him in 2007 and purchased foreclosures in 2009 as rentals and listened to him and purchased gold that is now $2,500/ ounce at this time ( just means the value of the dollar is going down and the precious metals are preserving wealth).

    • @larrynusbaum9193
      @larrynusbaum9193 4 หลายเดือนก่อน

      @@wannastayfree8115 So he was right in 2007 and wrong the other 39 years. Got it.
      Btw, gold was $1,800 in Feb 2013 (I sold a bunch) which is now equivalent to $2,430.37 adjusted for inflation. A very poor investment.

  • @royabrown8774
    @royabrown8774 4 หลายเดือนก่อน +2

    Learn my lesson in 07-08 , it's all a game, and you ain't going to win . The game is not structurally sound. A 30 year mortgage,sold on Wall Street is a game you can't win.

  • @jeffhaskett2766
    @jeffhaskett2766 4 หลายเดือนก่อน

    If there was an economic collapse - Wiemar republic inflation - your assessed value may skyrocket before it collapsed. You may be on the hook for a ridiculous property tax depending on timing of events and lack of legislation.

  • @KevinFosterokc
    @KevinFosterokc 4 หลายเดือนก่อน

    This information is invaluable. We must start to pivot as the average consumer is become much more financial savvy about the downside do not paying attention to the Total Interest Percentage and instead listening to the numbers being quoted. There is more to shopping for a mortgage than just asking about APR and monthly payment.

  • @Michael-pq6dn
    @Michael-pq6dn 4 หลายเดือนก่อน

    Mortgage rates are historically low right now - it just was manipulated down to crazy low rates by the fed.

  • @00301200
    @00301200 4 หลายเดือนก่อน

    With what’s going on overseas in the Middle East and here in the US ( Job layoffs, rampant inflation ) too many people feel insecure and are not willing to go broke so as to own overpriced homes , when we do not know what will happen in the next 12 months .
    Prices will crash for sure . Rates are irrelevant , We have to look at the overall price of the home , not the monthly payments based on interest rates, Sellers are too greedy and stubborn, Realtors want to make up for lower commissions by encouraging the sellers to keep prices high .otherwise they loose on commissions. Over 50% of realtors have only been able to sell 1-2 homes per the entire year!

  • @josephsgroi4474
    @josephsgroi4474 4 หลายเดือนก่อน

    I’m so tired of people always trying to scare me, thanks for a realistic view. I always look at the real estate market like the stock market, it is long-term investment. Plus, I’ve got to live somewhere and I couldn’t possibly rent for what I’m paying for my house.

  • @Toni_Snark
    @Toni_Snark 4 หลายเดือนก่อน +14

    They've been saying Crash as soon as we recovered from the last one. It's so tiring.

    • @LG-tw5vm
      @LG-tw5vm 4 หลายเดือนก่อน +7

      They're saying that because the fundamentals that caused that crash were never fixed, which means it will happen again. The housing crash will happen after unemployment explodes. Keep your eye on the unemployment numbers.

    • @misssrednas
      @misssrednas 4 หลายเดือนก่อน

      @@LG-tw5vmIt’s interesting reading the comments on here and seeing how many people don’t get it. You’re one of the few who does.

    • @SuperMachead1
      @SuperMachead1 4 หลายเดือนก่อน

      @@Toni_Snark everything happens in cycles 🔁

    • @CaptainCaveman1170
      @CaptainCaveman1170 4 หลายเดือนก่อน

      @@LG-tw5vm No one went to jail, so it's really foolish in my view for people to believe that Wall Street found Jesus and "got their act together". In fact, we KNOW the opposite happened, they invented shadow banking to get around the weak Dodd-Frank regulations. Derivatives, CLO's, tranches, all that toxic stuff is still there. The only question is, will the government act proactively this time around to keep the dam from bursting? (pre-emptive bankster bailouts with our grandchildren's money?)

  • @jamesbennett4270
    @jamesbennett4270 4 หลายเดือนก่อน

    Schiff is talking commercial real-estate

  • @b1crusade384
    @b1crusade384 4 หลายเดือนก่อน

    0:42 With respect. I do not care what you think. I care about what you know and the facts. I will think and conclude myself.

  • @michaelhankes5708
    @michaelhankes5708 4 หลายเดือนก่อน

    he’s saying against “real money “ gold . hes probably correct

  • @lindawilson4625
    @lindawilson4625 4 หลายเดือนก่อน

    "Take it with a grain of salt." Exactly! The Sky is Falling themed videos get clicks...and money, so don't watch thinking they have your best interests at heart. Your title to this one was clickbaity, but I watch your regularly, so I knew something was up :-) Good info!

  • @patrickpowell2236
    @patrickpowell2236 4 หลายเดือนก่อน

    15:40 excellent advice on (not) re-financing, however, that is an admission that buyers should wait for the price to drop "...$100,000 to $200,000" so they aren't stuck. I'd rather rent for an extra year than know that I paid a FOMO premium
    Overall good video, but you are underestimating how much the market will crash when it happens. And yes, each market is different. Phoenix metro is rising in value while some markets are dropping.

  • @TinyLuvsBostons
    @TinyLuvsBostons 4 หลายเดือนก่อน

    19:30 Todd Sachs is experienced. He’s realistic, too.. imo. Yes, his video titles are a bit clickbait-ish, but I watch his show Live on Tuesdays and usually enjoy them. His recent guest WAS over the top & if you read the comments, many people spoke from their experience of following that guest ( let me find his name ) and says he’s frequently wrong. The other clip you showed had Todd Sachs and Peter Schiff. Schiff predicted the 2008 crash, so I’d say he knows a thing or two. With all that said, I appreciate your content and perspective.

    • @TinyLuvsBostons
      @TinyLuvsBostons 4 หลายเดือนก่อน

      Harry Dent, Jr is the not so accurate economist whose name I couldn’t remember

    • @TinyLuvsBostons
      @TinyLuvsBostons 4 หลายเดือนก่อน

      Todd has real estate agents on from around the country. He has guests on that travel to various markets ( boots on the ground , eyes on the cities). In addition, he has people call in. Buys, sellers AND agents from around the country call in to ask questions or to share information about their markets