Sky high housing prices impacting The Bay Area; Mortgage rates up across the country

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  • เผยแพร่เมื่อ 22 พ.ค. 2024
  • Mortgage rates are on the rise both in the Bay Area and nationwide. The median sales price for a home across the country has reached a record high of $387,000. However, in the Bay Area, home prices are significantly higher. Our Elizabeth Cook dives in on the subject
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ความคิดเห็น • 329

  • @gringoboy701
    @gringoboy701 23 วันที่ผ่านมา +129

    Imagine paying 8,500 a month on mortgage and you're still in the ghetto.

    • @justgivemethetruth
      @justgivemethetruth 23 วันที่ผ่านมา +11

      Don't forget the property tax on that.

    • @Omar_Zazzle
      @Omar_Zazzle 23 วันที่ผ่านมา +4

      I pay $250,000.00 a month only because I moved 1,920 miles away from John Travolta.

    • @Octaviamorris77
      @Octaviamorris77 22 วันที่ผ่านมา

      Exactly

    • @BREEZYM6015
      @BREEZYM6015 20 วันที่ผ่านมา +2

      ​@@Omar_ZazzleMust be a large home to be paying $250K a month. 😂

    • @elaishh3533
      @elaishh3533 20 วันที่ผ่านมา +3

      Property tax is around 1.25% of appraised value.

  • @kortyEdna825
    @kortyEdna825 16 วันที่ผ่านมา +344

    Really where are investors putting their cash? Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports, but the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening.

    • @KaurKhangura
      @KaurKhangura 16 วันที่ผ่านมา +2

      from my study, prices of great assets like real estate, dividend paying stocks, and gold never come down, so I buy what I can afford today. ideally, seeking financial advice in a crucial economy is necessary for everyone

    • @NicholasHarmon-ow3jl
      @NicholasHarmon-ow3jl 16 วันที่ผ่านมา +1

      I concur with your comment, personally I've avoided drawbacks of uncertain times by simply following guidance from a reputable advisor, and have been able to increase my savings by at least 300% since late 2019, just before rona out-break, summing up nearly $1m after subsequent investments to date. I'm semi-retd now, and only work 7.5 hours weekly.

    • @brucemichelle5689.
      @brucemichelle5689. 16 วันที่ผ่านมา +1

      That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?

    • @NicholasHarmon-ow3jl
      @NicholasHarmon-ow3jl 16 วันที่ผ่านมา +1

      Marisa Michelle Litwinsky’’ 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.

    • @brucemichelle5689.
      @brucemichelle5689. 16 วันที่ผ่านมา

      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.

  • @davidwade7681
    @davidwade7681 23 วันที่ผ่านมา +42

    Couldnt pay me to live in oakland

    • @Lisbon77
      @Lisbon77 21 วันที่ผ่านมา +7

      Well we’re not asking you😅😅😅 to

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา +1

      🤣🤣🤣 Two different landlords tried paying me to move OUT of Oakland. Hell no! Rent control, baby.

  • @aerohk
    @aerohk 24 วันที่ผ่านมา +19

    For South Bay, I got one word: NVDA

  • @MichaelChengSanJose
    @MichaelChengSanJose 24 วันที่ผ่านมา +45

    That Vallejo realtor nailed it. When mortgage rates fall, there will not be a sudden flood of homes driving prices down. The exact opposite will occur. Buyers will be rushing to pick up anything for sale and drive up home prices in a mad spike just like late 2021 to early 2022 when prices shot up by 20-30%.

    • @teri03
      @teri03 24 วันที่ผ่านมา +1

      You want to purchase with a low interest rate even if the home price goes up. You will have a smaller mortgage.

    • @jfloresdrums
      @jfloresdrums 23 วันที่ผ่านมา +3

      When???? Dude, they won't fall below 5% ever!

    • @teri03
      @teri03 23 วันที่ผ่านมา +2

      @@jfloresdrums Not with geriatrics in charge, they don’t care and are out of touch.

    • @TruthOpinion
      @TruthOpinion 23 วันที่ผ่านมา +1

      @@jfloresdrums not if there is nothing systemically broken in economy. If something breaks all bets are off

    • @mocheen4837
      @mocheen4837 22 วันที่ผ่านมา +4

      I do not think people want to live in Vallejo. Still pricey and crime is a factor.

  • @AZ50428
    @AZ50428 19 วันที่ผ่านมา +5

    I moved to Texas from San jose ca 2 years ago I just bought a house 4 beds 2and half bathrooms, 2122 sqft for $268k new build, as truck driver I'm currently making the same I was making in the bay area

    • @DonP-gf5hn
      @DonP-gf5hn 14 วันที่ผ่านมา +4

      Texas property taxes are astronomical

    • @AZ50428
      @AZ50428 13 วันที่ผ่านมา +1

      @DonP-gf5hn you are right, but it all depends on where you move to and the price of the house, with no state income tax you might save a little bit more every year, then living in California, gas here is only $2.85 to $3.15 the regular.

  • @jessicah3782
    @jessicah3782 24 วันที่ผ่านมา +29

    Why do they keep going to Vallejo. It’s an outlier like a suburban mini-Oakland with a million less perks (”oppurtunities”). If you have kids, you will regret raising them here. And if you live here, just expect something of yours will be stolen.

    • @davidwade7681
      @davidwade7681 23 วันที่ผ่านมา +1

      Exactly

    • @TruthOpinion
      @TruthOpinion 23 วันที่ผ่านมา

      It could get gentrified

    • @HoneySuckle123
      @HoneySuckle123 17 วันที่ผ่านมา

      Vallejo really is an outlier 😅 💯

    • @jessicajones119
      @jessicajones119 3 วันที่ผ่านมา

      Vallejo definitely does have a fair share of crime. However, so do many other cities now. I know people who live in Walnut Creek and Danville facing similar problems. And cute little Emeryville is number 1 in crime right now. Crime is rampant everywhere in California right now.
      Vallejo has pockets. Some pockets are good and some are bad. I thankfully live in one of the safer pockets. You just really have to ask around and find out where the safer locations are (ie East Vallejo). The city has a lot more to offer other than crime.

  • @Spaceboy2000
    @Spaceboy2000 24 วันที่ผ่านมา +28

    Move to the Philippines and get a Beach House for $20,000

    • @Shawn-ho6de
      @Shawn-ho6de 23 วันที่ผ่านมา +4

      Really? That cheap? Dang I need to check that out

    • @safetythirdified
      @safetythirdified 22 วันที่ผ่านมา +1

      Promote this more.

    • @JC-dt7rn
      @JC-dt7rn 22 วันที่ผ่านมา +1

      Heck … rent it for $5 a day !

    • @Western-3rdSt.
      @Western-3rdSt. 22 วันที่ผ่านมา +1

      Empty talk. Tell us what beach.

    • @Spaceboy2000
      @Spaceboy2000 20 วันที่ผ่านมา +2

      @@Western-3rdSt. in the province of PH

  • @jbsbayarea1
    @jbsbayarea1 24 วันที่ผ่านมา +15

    vallejo is not good, toll bridge keeps going up not sure how they do it.

  • @TLEthelearningexperience
    @TLEthelearningexperience 24 วันที่ผ่านมา +29

    She said if you save your money renting you can buy a house she must not know how broke I am

    • @nancymcmonarch
      @nancymcmonarch 24 วันที่ผ่านมา

      Oh, no kidding.🤣 I gave up on buying a house around here 30 years ago. It helps that I don't need a big old house. Thank goodness for rent control.

    • @justgivemethetruth
      @justgivemethetruth 23 วันที่ผ่านมา +1

      It's almost a wash when you first buy a house - it is only over time when inflation goes up and you can get rid of mortagage insurance and refi that you can gain by buying - but then you have all the the others costs - especially if something goes wrong.

    • @captng
      @captng 22 วันที่ผ่านมา +1

      She said if ya broke renting...you would be in foreclosure if you bought.

    • @TLEthelearningexperience
      @TLEthelearningexperience 22 วันที่ผ่านมา +1

      @@captngque¿

    • @TLEthelearningexperience
      @TLEthelearningexperience 22 วันที่ผ่านมา +3

      The moment you save money your insurance charges you double and you have to buy a battery for your car

  • @RoseNZieg
    @RoseNZieg 24 วันที่ผ่านมา +9

    I love home owners who think that a dying city needs high rent.

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      OMG, some of this is totally about those midnight infomercials convincing people that anyone and everyone should be a landlord. 🤣🤣🤣

  • @nancymcmonarch
    @nancymcmonarch 22 วันที่ผ่านมา +15

    I've been a renter for 45 years. I don't need a house; nor do I want to maintain a house. I eat well, my car is paid for, and I get a nice retirement check every month. Have been to people's "homes" with unfurnished rooms, no heat, and Dollar Tree tablecloths for curtains. When did houses stop being HOME and become depressing investments?

    • @noblelies
      @noblelies 21 วันที่ผ่านมา +4

      They are right. We will own nothing and be happy.

    • @danasmith858
      @danasmith858 21 วันที่ผ่านมา +1

      Wow! You could have bought two houses and be sitting pretty at this point but you didn't

    • @nancymcmonarch
      @nancymcmonarch 21 วันที่ผ่านมา +3

      @@danasmith858 😆 Hardly. My first rent was $50 a month, and even now it's below $900 (including gas for heat and cooking). Doubt I'd have enough for a down payment on one house, let alone two. And again, I don't want a house. When the roof leaks or the toilet cracks, it's the landlord's problem. As for sitting pretty, you betcha. I'm on the top floor, with a million-dollar view of San Bruno mountain , the marina, and all kinds of trees in between.

    • @Chinaglo24
      @Chinaglo24 20 วันที่ผ่านมา +2

      These kind of people are flooding mental health facilities anxiety, depression from losing jobs don’t have money to pay rent or mortgage. Let no talk about the elderly they come in saying that their homeless no place to stay. I never seen nothing like this very scary what this country have become.

    • @baldeagle4710
      @baldeagle4710 20 วันที่ผ่านมา +1

      I’m inheriting a house from my parents but I’m going to sell it and rent

  • @jojob285
    @jojob285 22 วันที่ผ่านมา +9

    We are setting up ourselves for another bubble...we never learn from the past.

  • @adr3naline23
    @adr3naline23 22 วันที่ผ่านมา +15

    She is dreaming , prices are never going down , get with reality people

    • @Jonathaneve5
      @Jonathaneve5 20 วันที่ผ่านมา

      How you say that with certainty?

    • @Jonathaneve5
      @Jonathaneve5 20 วันที่ผ่านมา

      By your logic, supply will never increase and demand will never die down?

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      Not in San Francisco. It's a prime target for overseas criminals to "invest" in housing and clean up their dirty money. That's why there are so many vacancies unadvertised. Nobody with any sense wants to be a landlord.

    • @mg-by7uu
      @mg-by7uu 19 วันที่ผ่านมา +1

      ​@@Jonathaneve5Because home values are the same as they were in 2019. It's the dollar that lost half its value

    • @Jonathaneve5
      @Jonathaneve5 19 วันที่ผ่านมา

      @@mg-by7uu I’m pretty housing market is driven by “supply and demand.”

  • @bigcahuna42366
    @bigcahuna42366 13 วันที่ผ่านมา +1

    In my local area, a $2M house (which is Santa Clara County's median) will easily get you a 3K square foot house on the shoreline of Lake Ontario with a dock, private road, gated driveway, possibly a private beach, lots of bedrooms and bathrooms, and a large pool.

  • @baldeagle4710
    @baldeagle4710 20 วันที่ผ่านมา +4

    3 million people need to leave the Bay Area

    • @jessehendrix450
      @jessehendrix450 9 วันที่ผ่านมา

      I have a solution! An affordable house design that would give you the lowest total cost of home ownership over 30 years. How do you produce a vast amount of something affordable and still make a profit? The solution is: Show builders how they can make a profit producing affordable housing. Modern manufacturing techniques of scale need to be employed to drive down the cost of housing. A profit must still be made! Without the economic incentives nothing will ever get done fast enough. We can't continue building structures of such excessive cost if we want affordable housing. Manufacturing on a large scale is the only way to produce 500,000 homes in 5 years. 100,000 additional new residences every year would be a building boom which would lead to an economic boom which would lead to more jobs. To facilitate large production runs a common plan with few variations must be arrived at. Without such a plan we have no chance at mass production or solving the affordable housing shortage in our lifetime. The modular home building industry in California is well suited to solve CA's problem. By forming a co-op, the California modular home builders could ensure profits, minimize risk, and gain access to the three million Californians currently renting. California modular home builders could agree to eliminate competition on this common house design and mass produce two models of house simultaneously. We should be building affordable homes as fast as we built bombers in 1944!

    • @swaminathangnanasambandam8071
      @swaminathangnanasambandam8071 8 วันที่ผ่านมา

      70 % of home bought by wall street institutional investors and doing price jacking.

  • @danasmith858
    @danasmith858 21 วันที่ผ่านมา +6

    If I want to live in a dump I'm going to set up a tent with the rest of the people

  • @user-jw2cf9ip2u
    @user-jw2cf9ip2u 24 วันที่ผ่านมา +10

    Because we know it’s not worth it 👀 never was never will be things are scary. Food is up jobs hours are cut back or even reduce workers. and to buy a home that’s overpriced property taxes, sky, high insurance sky high. To buy a house this much over price is hanging yourself.👀👀👀

  • @AB-wg7qe
    @AB-wg7qe 16 วันที่ผ่านมา +3

    Thank God Peter Thiel can afford these homes…so much so that he owns ALL of them.😂

  • @julial3758
    @julial3758 23 วันที่ผ่านมา +7

    right.. oakland rent getting cheaper as the crime rate going higher there .. well obviously that's the reason why

  • @foxywhitetip7387
    @foxywhitetip7387 19 วันที่ผ่านมา +2

    How r they saving money when the rents go up every year ..?? When you can get evicted any time they sell ? When the cash you’re saving is worth less and less by the month ?

  • @anttyzale5455
    @anttyzale5455 21 วันที่ผ่านมา +3

    My uncle never owned his own house. He did the math and found his rent also included his heat and he lived
    in the northeast. So he would have more room in a house but he lived cheaper in a rental. When I lived in Connecticut
    a barn foundation rented for 700 dollars per month, next to a graveyard.

  • @evansuarez5432
    @evansuarez5432 23 วันที่ผ่านมา +6

    “In todays news, water is wet”

  • @Theskatenerdchannel
    @Theskatenerdchannel 18 วันที่ผ่านมา +2

    That’s a joke!! House prices need to be lower

  • @cinnaminstixx
    @cinnaminstixx 20 วันที่ผ่านมา +2

    Excellent reporting compilation. I don’t even live in California, but greatly benefited from it.

  • @Octaviamorris77
    @Octaviamorris77 22 วันที่ผ่านมา +4

    Unless you have 4 families in one house forget the headache it’s not worth it…work remote and move out of the bay!

  • @hummingbirdSK
    @hummingbirdSK 35 นาทีที่ผ่านมา

    With so much rising house price, why are we still paying 6% to realtors for doing the same job...???

  • @episdosas9949
    @episdosas9949 24 วันที่ผ่านมา +11

    you mean greedy real estate investors are inflating the market. banks helped create bubbles that let a small group of people become wealthy and keep people as renters. they should allow all people to get a mortgage and house with no money down. housing is not a luxury, its a neccessity.

    • @nancymcmonarch
      @nancymcmonarch 24 วันที่ผ่านมา +4

      Some years ago, banks were offering no-money down deals on houses. I had sales folk calling daily to say, "No really! Even if you have no money I can get you into a house." They even let people slide on the first year's mortgage payments, AND gave them cash kickbacks. A lot of those houses wound up in foreclosure.

    • @jessehendrix450
      @jessehendrix450 9 วันที่ผ่านมา

      I have a solution! An affordable house design that would give you the lowest total cost of home ownership over 30 years. How do you produce a vast amount of something affordable and still make a profit? The solution is: Show builders how they can make a profit producing affordable housing. Modern manufacturing techniques of scale need to be employed to drive down the cost of housing. A profit must still be made! Without the economic incentives nothing will ever get done fast enough. We can't continue building structures of such excessive cost if we want affordable housing. Manufacturing on a large scale is the only way to produce 500,000 homes in 5 years. 100,000 additional new residences every year would be a building boom which would lead to an economic boom which would lead to more jobs. To facilitate large production runs a common plan with few variations must be arrived at. Without such a plan we have no chance at mass production or solving the affordable housing shortage in our lifetime. The modular home building industry in California is well suited to solve CA's problem. By forming a co-op, the California modular home builders could ensure profits, minimize risk, and gain access to the three million Californians currently renting. California modular home builders could agree to eliminate competition on this common house design and mass produce two models of house simultaneously. We should be building affordable homes as fast as we built bombers in 1944!

  • @SunSandandSurf
    @SunSandandSurf 23 วันที่ผ่านมา +7

    I am sure investors are buying a lot of those homes in addition to high tech people. The divide is getting wider.

    • @Soapboxwarrior
      @Soapboxwarrior 21 วันที่ผ่านมา

      I agree, consumers have to put their foot in the ground and just say prices are too damn high. But as long as people with money are willing to buy a home worth 900k for 2.1 million… prices will stay unrealistic.

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      @@Soapboxwarrior Problem in the Bay Area is that the market isn't driven by US consumers. Most real estate in San Francisco these days is snapped up by people from China, Saudi Arabia, Dubai, and India. For CASH, which needs to be laundered some kind of way.

    • @kenyaswallow5782
      @kenyaswallow5782 20 วันที่ผ่านมา

      @@nancymcmonarch Statistic shows that foreign buyers are around 2%. It's the institutes who takes 40% of real estate purchase.

  • @KarenNakamura1
    @KarenNakamura1 24 วันที่ผ่านมา +18

    The only people who can buy right now are rich people who are buying with cash (or institutional investors) and are price insensitive. And no one can afford to sell unless they have to (as they will reset their mortgage rate). So prices will go up.

    • @ct6852
      @ct6852 24 วันที่ผ่านมา +6

      Wish people could find other ways to invest and make a profit. Housing is so essential for a life, and everything that comes with that stability.

    • @TruthOpinion
      @TruthOpinion 24 วันที่ผ่านมา

      There’s a lie media wants you to believe. Only 2% of homes are owned by institutions. 40% of people own their home all cash- no loan. Don’t fall for the lie:-)

    • @teri03
      @teri03 24 วันที่ผ่านมา +1

      @@ct6852Lowering the rates helps regular people purchase homes. You get more house for your money even if the price goes up a bit.

    • @claudiovallone9217
      @claudiovallone9217 18 วันที่ผ่านมา

      ​​@@ct6852 no investments means less new construction , less homes and higher prices

  • @eljefeog
    @eljefeog 23 วันที่ผ่านมา +5

    its still about 250,000 over valued.

  • @EnjoyingLife2024
    @EnjoyingLife2024 23 วันที่ผ่านมา +3

    TY for the information. Major cities in North Carolina are facing similar housing price escalation rates as the cities in this report. ADUs, lot splits, and other options are under investigation as ways to address our affordbale housing issues for low-income and working class citizens. 👍

  • @goodasgold2012
    @goodasgold2012 23 วันที่ผ่านมา +5

    Waiting for interests rates to fall...not sadly.
    There's no large base of buyers approvable....
    Prices can only rise, till it pop's, like...history of 1926/2008/2024?

  • @stacyhackney6100
    @stacyhackney6100 24 วันที่ผ่านมา

    Thank you

  • @summaryjudgment
    @summaryjudgment 19 วันที่ผ่านมา +2

    there is literally no reason to even have a sign made that says "sold with multiple offers".
    zero people care how many offers a seller received. it sold.

  • @TruthOpinion
    @TruthOpinion 24 วันที่ผ่านมา +21

    Home prices are supply restricted. Interest rates don’t matter for price.

    • @Frenchieeeee
      @Frenchieeeee 24 วันที่ผ่านมา +4

      that's such a dumb take.

    • @TruthOpinion
      @TruthOpinion 24 วันที่ผ่านมา +1

      @@Frenchieeeee how so? Talk data not emotions:-)

    • @mfo7611
      @mfo7611 24 วันที่ผ่านมา +1

      ​@Frenchieeeee yeah they are thinking of paying straight cash. Must be nice...

    • @TruthOpinion
      @TruthOpinion 24 วันที่ผ่านมา

      @@mfo7611 40% of homes in America are cash paid off- no loan

    • @E_Clampus_Vitus
      @E_Clampus_Vitus 24 วันที่ผ่านมา +4

      The prices are high due to inflation, not supply restricted.

  • @HanginInSF
    @HanginInSF 3 วันที่ผ่านมา +1

    How come nobody talks about the increased taxes?

  • @TaniaGarcia-wm6sw
    @TaniaGarcia-wm6sw 22 วันที่ผ่านมา +50

    Thank you for keeping us informed on so many levels. I feel like the more I learn about the low-income people of our country, the more my anger grows. Thanks Arleth. Imagine investing $1000 and receiving $5,450 in 3 days.🇺🇸

    • @user-xh2ib7ri5g
      @user-xh2ib7ri5g 22 วันที่ผ่านมา +2

      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.

    • @Andreas_Strozinski
      @Andreas_Strozinski 22 วันที่ผ่านมา +2

      The very first time we tried, we invested $1000 and after a week, we received $5900. That really helped us a lot to pay up our bills.

    • @JohnVilaa
      @JohnVilaa 22 วันที่ผ่านมา +1

      Getting Arleth Coronado to help me really helped me clear all my debts. I started with what I have left and it's been the best decision I ever made.

    • @John_Richbourg
      @John_Richbourg 22 วันที่ผ่านมา

      She's the best honestly I'm also a beneficiary. This inflation has taught people the importance of multiples income investment helps alots..

    • @TaniaGarcia-wm6sw
      @TaniaGarcia-wm6sw 22 วันที่ผ่านมา

      she's mostly on Telegrams, with the below user name.

  • @Chinaglo24
    @Chinaglo24 21 วันที่ผ่านมา +2

    These people must be out of their minds paying that much on a house I feel for that person if he get sick trying to carry a mortgage you’re doomed.

  • @jeffsmith1798
    @jeffsmith1798 20 วันที่ผ่านมา +2

    If rising crime and higher vacancy are pushing down rents in some cities, then those cities that are relatively safe and with low to no vacancy will skyrocket.
    Supply and demand.

  • @elaishh3533
    @elaishh3533 20 วันที่ผ่านมา +2

    The 20 year average for mortgage rates is 7.1% (2018) The rates are not going down they are finally where they are suppose to be. They have been kept artificially low since 2008 crash ( causing inflated prices ) Now if they lower rates inflation increases and any increase in rates will collapse more banks. Buckle up everyone.

    • @jessehendrix450
      @jessehendrix450 9 วันที่ผ่านมา

      I have a solution! An affordable house design that would give you the lowest total cost of home ownership over 30 years. How do you produce a vast amount of something affordable and still make a profit? The solution is: Show builders how they can make a profit producing affordable housing. Modern manufacturing techniques of scale need to be employed to drive down the cost of housing. A profit must still be made! Without the economic incentives nothing will ever get done fast enough. We can't continue building structures of such excessive cost if we want affordable housing. Manufacturing on a large scale is the only way to produce 500,000 homes in 5 years. 100,000 additional new residences every year would be a building boom which would lead to an economic boom which would lead to more jobs. To facilitate large production runs a common plan with few variations must be arrived at. Without such a plan we have no chance at mass production or solving the affordable housing shortage in our lifetime. The modular home building industry in California is well suited to solve CA's problem. By forming a co-op, the California modular home builders could ensure profits, minimize risk, and gain access to the three million Californians currently renting. California modular home builders could agree to eliminate competition on this common house design and mass produce two models of house simultaneously. We should be building affordable homes as fast as we built bombers in 1944!

  • @Lambert7785
    @Lambert7785 4 วันที่ผ่านมา

    good information, thanks

  • @EspecialDelivery
    @EspecialDelivery 24 วันที่ผ่านมา +12

    Here is the problem with the local and national news. They are reporting that home prices have increased, but most of those homes are not selling at the seller's asking price and have been sitting on the market for months.

    • @plpfctn2007
      @plpfctn2007 24 วันที่ผ่านมา +1

      lol. You’re so wrong

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      In regions where that's happening, the solution is obvious. LOWER the goddamned PRICE!

    • @jlseagull2.060
      @jlseagull2.060 19 วันที่ผ่านมา +1

      It depends. In my neighborhood in a small town in CA, houses are sold in days. It is mainly because of the school districts from grades school, to junior high and senior high, and 4-year college.

  • @agentoliver1972
    @agentoliver1972 23 วันที่ผ่านมา +4

    If people weren’t greedy we will be alright

    • @nancymcmonarch
      @nancymcmonarch 22 วันที่ผ่านมา +1

      That ship has sailed, though. Used to be, people bought houses to raise their families and be good neighbors. These days a house is an "investment," and everybody's worried about the NEXT buyer. So Americans are afraid to paint their own walls pretty colors, or hang pictures, or plant tomatoes in the yard. 😢

  • @user-jw2cf9ip2u
    @user-jw2cf9ip2u 24 วันที่ผ่านมา +18

    To rent a house for three or $4000 a month is like spitting in your face and telling you it’s raining👀

  • @daralynx2
    @daralynx2 22 วันที่ผ่านมา +2

    Been to SF..and no fw I'd live there. But if I was going to buy I'd be rattling the bushes for an off-market motivated seller.

  • @4happythoughts
    @4happythoughts 20 วันที่ผ่านมา +2

    12:57 They bought that huge property in the late 70’s and still have mortgage?

    • @jlseagull2.060
      @jlseagull2.060 19 วันที่ผ่านมา +1

      Cash out on home equity

  • @EyeC5150ScammersAllDay
    @EyeC5150ScammersAllDay 19 วันที่ผ่านมา +1

    Is this a televised News rerun? It's been like that for 15 years and more.

  • @SunSandandSurf
    @SunSandandSurf 23 วันที่ผ่านมา +4

    FOMO: if people did not go along with bidding wars, and just purchasing for ridiculous prices this would not happen but it already has. I am glad that some people are waiting. Most people I know have just moved out of California. If you can't afford it, you can't afford it!

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      In San Francisco, Americans can't even compete in the bidding wars with criminals from overseas who need to launder their CASH.

    • @jessehendrix450
      @jessehendrix450 9 วันที่ผ่านมา

      I have a solution! An affordable house design that would give you the lowest total cost of home ownership over 30 years. How do you produce a vast amount of something affordable and still make a profit? The solution is: Show builders how they can make a profit producing affordable housing. Modern manufacturing techniques of scale need to be employed to drive down the cost of housing. A profit must still be made! Without the economic incentives nothing will ever get done fast enough. We can't continue building structures of such excessive cost if we want affordable housing. Manufacturing on a large scale is the only way to produce 500,000 homes in 5 years. 100,000 additional new residences every year would be a building boom which would lead to an economic boom which would lead to more jobs. To facilitate large production runs a common plan with few variations must be arrived at. Without such a plan we have no chance at mass production or solving the affordable housing shortage in our lifetime. The modular home building industry in California is well suited to solve CA's problem. By forming a co-op, the California modular home builders could ensure profits, minimize risk, and gain access to the three million Californians currently renting. California modular home builders could agree to eliminate competition on this common house design and mass produce two models of house simultaneously. We should be building affordable homes as fast as we built bombers in 1944!

  • @donaldkasper8346
    @donaldkasper8346 12 วันที่ผ่านมา

    Why are home prices down and going on down out of San Fran area? Called all the insurers are leaving the state and you cannot get home insurance. Fire hazard is just too high.

  • @jfloresdrums
    @jfloresdrums 23 วันที่ผ่านมา +2

    These realtors are salesman and them saying when interest rates drop tells me alot about how little she knows about economics. If, the feds cut rates, it won't be enough to make it more affordable for people because the feds will likely cut by 25 basis pts leaving mortgage interest rates in the 7% range still.

    • @zohcold
      @zohcold 19 วันที่ผ่านมา

      💯

  • @user-rk5nw3zd2f
    @user-rk5nw3zd2f 19 วันที่ผ่านมา +2

    Shades for $2m without wall insulation, old sewer, old everything. Nah.

  • @deafmute2501
    @deafmute2501 19 วันที่ผ่านมา

    but if the interest rates go down and the prices go up, then the property tax goes up. It’s like someone isn’t connecting the dots.

  • @fozzir
    @fozzir วันที่ผ่านมา

    You have to be insane to move to Oakland. That woman, India, will be lucky to be alive a year from now. I was there there 6 months ago; it was the most terrifying experience in my life. Someone attempted to steal my car at a red light, but I fought them off.

  • @aeromtb2468
    @aeromtb2468 24 วันที่ผ่านมา +2

    its V town it has a rep.

  • @coolsteven2
    @coolsteven2 24 วันที่ผ่านมา +10

    We need to be making it easier to build housing; build a lot and build it fast and build it dense (no one wants to live an hour away from their job or amenities).

    • @TruthOpinion
      @TruthOpinion 24 วันที่ผ่านมา +2

      Yeah try convincing home owners who want to minimize supply to grow their wealth. Btw that home owner also happens to be the voter. Good luck lol😅

    • @user-bm5ph9qc1r
      @user-bm5ph9qc1r 21 วันที่ผ่านมา

      Construction cost isn’t cheap either. How much do you think it’s gonna cost to build a house giving the high price of materials and labor?

  • @danlove12k
    @danlove12k 7 วันที่ผ่านมา

    Why would teachers, government workers, police officers want to live in San Francisco. Their wages don’t cover it 😅

  • @richardgirgis822
    @richardgirgis822 22 วันที่ผ่านมา

    It makes sense to rent in the bay, area considering how much more expensive a mortgage is. People can always buy investment property in other areas where the rent is higher then the mortgage and get passive income from those investments. Buying in the bay area considering how much lower the rents are then the mortgage, in my opinion, is a really bad financial move.

    • @baldeagle4710
      @baldeagle4710 20 วันที่ผ่านมา

      Corporations and taking up the housing stock

  • @justgivemethetruth
    @justgivemethetruth 23 วันที่ผ่านมา +1

    Vallejo is like San Jose 40 years ago.

    • @nancymcmonarch
      @nancymcmonarch 22 วันที่ผ่านมา

      San Jose 40 years ago! ❤ When I first moved to California, I stayed with friends in Sunnyvale, who were renting a house for ONE thousand dollars a month. What's now overpriced Silly Valley used to be acres of farmland and orchards; it was truly lovely. Now I can't even stand to drive there, it's so ugly.

    • @jlseagull2.060
      @jlseagull2.060 19 วันที่ผ่านมา +1

      That was why I escaped from the Bay Area. DeAnza community college was in the middle of orchards. Today it is hidden in a housing jungle. 😢 So does Mission College.

    • @justgivemethetruth
      @justgivemethetruth 19 วันที่ผ่านมา

      @@jlseagull2.060
      Where did you escape to, and how?

  • @jeromeburdine966
    @jeromeburdine966 3 วันที่ผ่านมา

    All my younger relatives are being handed houses by their parents. THAT is the only way they're affording to buy their homes.

  • @danielking104
    @danielking104 20 วันที่ผ่านมา

    interview people who are putting down those 2m offers. I want to know who they are.

  • @TeulaT33
    @TeulaT33 24 วันที่ผ่านมา +3

    What rent 30 percent homeless and in cars

  • @fauxbro1983
    @fauxbro1983 24 วันที่ผ่านมา +4

    interest rates need to be hire to restrict capital and purchasing power, thus reducing selling prices.

    • @teri03
      @teri03 24 วันที่ผ่านมา +1

      That helps cash buyers and investment firms. High interest rates affect regular people getting a mortgage.

    • @jlseagull2.060
      @jlseagull2.060 19 วันที่ผ่านมา

      @@teri03yep, it is already happening whether the interest rate is low or high. Money power.

    • @teri03
      @teri03 19 วันที่ผ่านมา

      @@jlseagull2.060 When the interest rates go lower, Boomers get incentives to sell. With these rates Boomers are forced to keep their SFhomes off the market.

  • @germantorres5652
    @germantorres5652 21 วันที่ผ่านมา

    When rates drop, everyone will want to buy, meaning house prices will increase. Easy economics, supply and demand. Currently people don't want to sell because they already have a good rate ( 3%) if they sold they're going to get stuck with double that at least.

  • @dorino9057
    @dorino9057 23 วันที่ผ่านมา +2

    every city in California should have affordable housing. Low and middle income families deserve a place to rent and buy.

    • @danasmith858
      @danasmith858 21 วันที่ผ่านมา

      Every city needs a welfare project? Protect your bums like your criminals?

    • @danasmith858
      @danasmith858 21 วันที่ผ่านมา

      That's what those tents and motorhomes on the curb are.

    • @baldeagle4710
      @baldeagle4710 20 วันที่ผ่านมา +1

      The corporations will come in and buy the low income housing

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา +1

      Dorino, there are SO many vacant office buildings in San Francisco, Oakland, San Jose, etc. During the pandemic, Americans discovered that we love working from home. If I had a bazillion dollars, I'd snap up one of those buildings for pennies on the dollar and turn it into apartments or condos.

  • @fullyshannon
    @fullyshannon วันที่ผ่านมา

    I'm just curious, for the people who are able to afford the prices, What do you do for a living? Do you own multiple business, or did you climb the corporate ladder? Was money gifted to you as an inheritance, or have you made wise investments? A combination of all of them above? How old are you? Is this your first home? I'm just curious if you were in the position of the shop owner at this stage in her life, how would you go about setting yourself up to purchase? If you are older do you worry that younger generations won't be able to maintain the value of the US dollar, or do you have an off shore bank account and plan on living out your golden years as an expat abroad and don't care?

  • @hhenry76
    @hhenry76 22 วันที่ผ่านมา +1

    I don't get it. How does all these people live in California able to paid for these expensive house. Just asking?

    • @mocheen4837
      @mocheen4837 22 วันที่ผ่านมา

      Most people I know make $400,000 or more. I know many people with $4 million dollar homes.

    • @nancymcmonarch
      @nancymcmonarch 22 วันที่ผ่านมา

      I couldn't stay here if not for rent control. Moved into this apartment 28 years ago, and yep, this is where I'll die. Neighbor across the hall who moved in last year pays three times my rent. RIDICULOUS, and half the apartments here are empty. Pure GREED has made California a place where few people can afford to live.

    • @Soapboxwarrior
      @Soapboxwarrior 21 วันที่ผ่านมา +1

      @@nancymcmonarchmy work colleague has a family of 5 and moved into rent controlled properties a friend gave him his most recent lease.

  • @CaraMarie13
    @CaraMarie13 21 วันที่ผ่านมา

    Of course Oakland is going to get more expensive. The people from places like SF who had high incomes but not enough for SF moving there, they will cause the same thing that pushed them out.

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      No, Cara, rent in Oakland is going WAY down. Whenever I go out driving or walking, I see "FOR RENT" signs. My building now has five empty units out of 18, because the "overflow" people got tired of paying $2500 a month for no elevator, no pool, and no doorman. Thank goodness for rent control. I pay $872.

  • @chad9971
    @chad9971 23 วันที่ผ่านมา +1

    A major solution to housing is to change zoning as well. I'd rather buy and live in a "warehouse" or office studio than live in someone's backyard. Fine, you NIMBYs can keep your community's "character"; the State needs to let Americans who can't afford to buy-in choose alternative places to live. Mixed-use zoning is the way to go.

    • @nancymcmonarch
      @nancymcmonarch 20 วันที่ผ่านมา

      And it will happen, soon as some of these owners of empty office buildings wake up and realize that Americans prefer working from home. The smartest ones are selling for pennies on the dollar. Sooner than later, many of those empty office spaces will be apartments or condos.

  • @paul88ptv
    @paul88ptv 22 วันที่ผ่านมา

    Market in Bay Area is different, if you are able to get a house and buy then your asset 99 percent of time will appreciate and you will have gained equity, couple that with tax deductions, and you can say that this asset may be much better class then stocks and gives much less risk, plus no taxes to pull equity, and no Capitol gains if you sell it for up to 250k. Reason why the market is hot is because people see this properties as a investment

  • @mrgonzalez4583
    @mrgonzalez4583 14 วันที่ผ่านมา

    How tf people supposed to afford these housing payments

  • @user-rk5nw3zd2f
    @user-rk5nw3zd2f 19 วันที่ผ่านมา

    Does your paychecks was growing up at 10%? Nope! So why price for everything is up?

  • @lavoisier2815
    @lavoisier2815 19 วันที่ผ่านมา

    It's not the rate its the Price of housing. For Prices to go down you have to keep raising interest rates.
    Low interest rates is what causes inflation. A low interest rate will just mean you will Pay more for the things you want and need.

  • @CTheMuse
    @CTheMuse 17 วันที่ผ่านมา

    How is this not dystopian CA? How in the hell can this be explained away? Go to Zillow and look at the homes that are over a million dollars in Santa Clara. 🤯

  • @mrxiong2567
    @mrxiong2567 21 วันที่ผ่านมา

    Krazy . I’m just gonna live in my car

  • @SamA-ho8uj
    @SamA-ho8uj 21 วันที่ผ่านมา

    Move! You don’t have to stay in expensive places

  • @dougk2932
    @dougk2932 19 วันที่ผ่านมา

    The theory of the bigger fool someone will pay more than what it cost me .

  • @viethuynh6808
    @viethuynh6808 วันที่ผ่านมา

    Big money in the Bay Area if you’re in hi tech.

  • @beatone2000
    @beatone2000 5 วันที่ผ่านมา +1

    Location, location, location. Oakland it isnt. The arm pit of the bayarea.

  • @temle7489
    @temle7489 23 วันที่ผ่านมา +1

    Do yourself a favor and don't buy in Vallejo LMAO

    • @skeeterm2162
      @skeeterm2162 23 วันที่ผ่านมา

      Exactly! And Oakland too! Stay as far away as possible.

  • @homesweetnest14
    @homesweetnest14 5 วันที่ผ่านมา

    SICKENING!

  • @ilsa_xo
    @ilsa_xo 24 วันที่ผ่านมา +4

    They fool people into believing techies are the buyers. No. It's people who struck it rich in the C-suite executive level of those companies, tech, finance, law, sales, etc. It's not just random "techies" or "high tech". And the money did not "trickle down" to the employees.

    • @DavidJohnson-wx6us
      @DavidJohnson-wx6us 24 วันที่ผ่านมา +2

      There are quite a lot of mid-level techies ( with 5 to 10 years of work experience) cashing out their stock options when the stock prices have gone up a lot. Just in case you do not know, NASDAQ has already broken new records a few times this month.

  • @alexlee583
    @alexlee583 8 วันที่ผ่านมา

    Realtors say the same thing always lol....buy now.

  • @wayneroberts6642
    @wayneroberts6642 23 วันที่ผ่านมา +1

    Perfect, time to go slap my boss and tell him im gonna need a raise again...😂

  • @user-jw2cf9ip2u
    @user-jw2cf9ip2u 20 วันที่ผ่านมา +1

    Will soon be cut Down 👀

  • @MountainViews90
    @MountainViews90 18 วันที่ผ่านมา

    Better get an apartment then. Homes are not a necessity. I know it sucks to not live the American dream but you have to get real with where you are currently at in life. Look at it as the market saying you are not competing hard enough. Some of your peers are making 200k-400k per year.

  • @99gadget99
    @99gadget99 22 วันที่ผ่านมา +2

    The city of Vallejo is in a tragic state of a spiraling crime crisis and severely under-staffed police department, spilling over from Oakland. There’s always a reason for these “bargains”. ALWAYS DO YOUR RESEARCH!

  • @migmanzana1
    @migmanzana1 19 วันที่ผ่านมา

    Rates have to keep increasing until there is a reset.

    • @mg-by7uu
      @mg-by7uu 19 วันที่ผ่านมา

      There won't be a reset because they've been secretly doing trillions in bailouts the whole time

  • @jlacson74
    @jlacson74 24 วันที่ผ่านมา

    Move to Idaho

  • @Cutitupentertainment
    @Cutitupentertainment 21 วันที่ผ่านมา

    Greed starts at the top
    When will America wake up
    Stop going to work and let’s cripple these corporations

  • @thereal4114
    @thereal4114 14 วันที่ผ่านมา +1

    What's sad is they'll still vote for Biden!

  • @asahel980
    @asahel980 21 วันที่ผ่านมา +1

    Well because they know some people can afford it , people seems to forgot we are in a capitalist world. its all around us

  • @vionnajognson1126
    @vionnajognson1126 วันที่ผ่านมา

    Then move somewhere u can afford a house. Wtf

  • @johnsonbui
    @johnsonbui 18 วันที่ผ่านมา

    Yes the price go up yes ,you keep the house a few months then eviction kick in ,you find out you cannt make the payments,housing crashes is next people 😂😂😂😂

  • @churblefurbles
    @churblefurbles 8 วันที่ผ่านมา

    Vallejo is mexico, thats why.

  • @mindful-accountability
    @mindful-accountability 20 วันที่ผ่านมา +1

    homes wont sell because savings are down ..lol step one is a fail

  • @BuhodePiedra
    @BuhodePiedra 21 วันที่ผ่านมา

    Sooo.. everyone under 55 has the right to stop paying taxes because we officially have zero representation? Or?? What??

  • @lorenl9262
    @lorenl9262 24 วันที่ผ่านมา +3

    Well if the United States Government would "wake up and smell the coffee" maybe people could actually afford to live ANYWHERE!!!!

  • @pnutt2532
    @pnutt2532 20 วันที่ผ่านมา +1

    Let these techs buy up this overpruved real estate , trust me everything comes to an end , when A.I takes over and google and yahoo and these other tech companies start falling , all hell is gonna break loose , its common sense in a way , who the hell would want to buy a million plus home , putting 5 or 10 percent down , and knowing you have that mortgage for 15 plus years lol , not me , alot can happen in 15 years .

  • @mopthermopther
    @mopthermopther 24 วันที่ผ่านมา +5

    Wildfires drive the prices up

    • @nicholasthompson7690
      @nicholasthompson7690 24 วันที่ผ่านมา +2

      CA has always been expensive

    • @ct6852
      @ct6852 24 วันที่ผ่านมา +3

      That's part of it. But NIMBY has played a role in the supply for a long time. Investors should consider their own children, who would also like to have a life.