✅ - Work Directly with My Team - www.jebsmith.net/referral ⏩My Thoughts Are Changing On The Housing Market - th-cam.com/video/G9EhNNutDgk/w-d-xo.html ⏩My Thoughts Just Shifted On The Housing Market - th-cam.com/video/eISZkYWXR-M/w-d-xo.html ✅ - Ratewatch - www.jebsmith.net/ratewatch
Corporations are NOT the problem. Of course they don't help but they own less than 1% of all residential real estate. The biggest issue is the lack of new construction which is keeping inventory low, prices higher than they need to be and affordability near record lows.
@@JebSmith In CA it's local zoning codes and environmental law being used to drag developers into costly court battles. CA is where the housing crisis started and it spread all over the country in red and blue states alike. One also needs to reconsider the building of single family housing since it is a costly feature to American life. Cars are overpriced and costly no matter how you look at them and are a byproduct of the suburban lifestyle. I suggest a revamp of urban planning all together.
@@JebSmith I think the 20 million immigrants coming into the market soaked up all the supply. If we mass deport, it's going to really raise supply and lower prices (hopefully)
@@JebSmith Investors have bought a lot more than 1% of the SFHs that sold in the last 4 years. The 1% you're quoting is 1% of all existing homes but only about 10% of existing homes have sold in the past 4 years.
Spoken like a true investor obviously I disagree all that stuff he wants to do could bring back higher inflation and guess who he will blame if builders would stop marking up new homes prices by over 100% of cost to build more people could afford homes 🙄
Tired of them propping up the property bubbles. Make housing affordable again. It's not a crisis to have too much supply to allow people to buy them cheaper. I'll buy something there if the price is right. Tired of these ridiculous $400K+ prices for houses.
it's just reasonable to explore other finance sectors and diversify your portfolio with the guidance of a financial advisor. This strategy has significantly boosted my own portfolio by 80% in the last year alone, now valued at $1.2 million. Consider this: as a savvy investor, you wouldn't prioritize a fairly-valued house with a $100k mortgage over a highly overvalued one with a $700k mortgage, would you? The latter offers far greater lending and interest opportunities. This is why banks often inflate asset values and avoid price discovery in real estate. Meanwhile, governments also benefit from higher property taxes and assessments. Unfortunately, this creates a system where high real estate prices persist, benefiting most parties involved except home buyers. However, it's crucial to recognize that this bubble will eventually burst. Diversification and expert advice can help you navigate this complex landscape and make informed decisions.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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 witnessed the 2008 financial crisis can expect to generate a large wage.
Sophie Lynn Carrabus is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
@@LeskyAM Oh....economists know. They've said Trump's claims that all of his radical plans are going to be great for the economy & stock market are absurd, and will crater the economy & stock market. Trump's full of 💩. Who's dumb enough to believe a serial liar? 👎
Hey Jeb, I live in the Mid South, i noticed that there is a lot of vacancy within neighborhoods of Cities and small towns. There's a lot off space for infill, development, clean slates. There are vacancies of homes, vacancies in the high rises, vacancies of apartments. Basically there are many neighborhoods and towns that would love to see investments. Why focus on federal lands? That sounds like a benefit for big money, not the average america.
@jDvon10 no vacancies in Savannah or out lying areas..we have a housing shortage and they're building more as quickly as possible. Georgia is booming in this area.
Jeb, I was expecting a one-sided argument on how everything would be rosy in the housing market with Trump becoming the 47th president. I'm thoroughly impressed you dissected everything and looked at the facts.
the Hospitality, agriculture and construction industries cannot survive without immigrants, add the tariffs and we're in trouble.. also keep in mind when you say that Trump is "a business man: "that Trump's CV has no less than 18 business failures. Let's hope the US is not next
Absolutely false look I have studied this over thirty years what you are repeating is Chamber of Commerce's talking points. There is over 15 guest worker programs,less than 5% of immigrants work in agriculture and I could go on.
Lower taxes will only really benefit rich people not the average person so that doesn’t help anyone but rich people. Everything you talk about leads to corporate ownership of housing - it doesn’t help most people.
He advocated for no taxes on overtime hours, no taxes on tips, no taxes on social security, and no taxes on the interest of our car loans. I’m not sure how you can say that only benefits the rich, when that covers every category from poor to middle class families.
@@brookteleguz2462 That is hardly a majority of the working class - so no none of those are consequential - in fact unless you are a waitress it will not benefit you. But he also wants to eliminate overtime pay so - hurts them on that, he wants to "reform" social security - which is shorthand for reduce and eliminate income to seniors after they have left the work force, but which they paid into all their lives , and tipping instead of actually paying workers in itself needs to end - workers just need to get paid - right now the owners divvy up the tips and skim off part for themselves - so he's just helping them - but I believe the tips he wants taxes eliminate on are the ones to the judges and congress.
Funny...my taxes went UP after the 2017 cuts...I was already itemizing more than the std ded so that had zero impact, but the personal exemption went away and straight to my taxable income...
I’m 31 and just bought our first house last year at 6.99.. Hoping to turn it around and refinance soon to help out with the new baby! Thanks for your info!
Removing restrictions on federal land will make VERY little difference in making building more attractive or feasible. Basically, that's not the problem. There's already plenty of buildable land in the U.S. with power and even city water/sewer. What there's NOT plenty of is builders willing to foot the already high building labor & material costs in a such a risky environment with such few regular non-institutional homebuyers, plenty of Wall Street buyers, high food/housing inflation endangering down payments, high interest rates disqualifying many would-be mortgage applicants where mortgage lenders are required by law to properly qualify borrowers, with the impending risk of 60-100% tariffs on Chinese & Mexican goods (much of which are needed for constructing new houses) under Trump & the risk of mass deportations shrinking the construction labor force plus two wars that adversely impact the integrity of the worldwide supply-chain. It's just too much risk & adverse economics for build-to-sell constructors to absorb. Build-to-rent builders, on the other hand, would do well to build modest houses to rent out, since high rates will keep the tenant queue eternally long.
I completely agree with you! People just don't understand the cost of building new homes especially if they are custom built. And how hard it is to find qualified people to work for you.
From the research i have done most federal land is inhabitable. For the most parts they are really far from cities, are in wildfire zones, flood zones or have very little water resources such as lakes. The lands are rough terrain and contain wildlife that will he completely decimated. I do think there is way too much red tape when it comes to building but safety needs to be priority. The red tape i have issues with is zoning and structural styling of buildings. One area i hope to see changes with is ADUs. I have a large enough backyard where i should be able to fit a prefabricated ADU but the city told me no because it doesn’t match the style of homes around me. My fear is if interest rates lower at too fast of a pace it will negatively affect the market and cause housing prices to skyrocket and then there will be an over correction with interest rates going back up while housing costs take even longer to drop back down. I also fear the financial institutions will have less government oversight and do shady nefarious activities to screw over the uneducated potential home buyer. So to sum up my rant, short sighted success will lead to long term failure.
I appreciate you taking the time to lay out your thoughts. I definitely agree with you on the federal land piece. It sounds great in theory, but I’m not sure it’s really applicable. Where do you live? I’m curious because of the ADU comment.
I completely agree with everything you said! It all makes perfect sense. And I don't believe all the empty promises Trump makes. He made many promises last time and didn't fulfill them. He's full of hot air!
Thank you for your input as a real estate professional. Some people here think one can only talk about the economy if you are an economist or on Wall Street. The economy obviously impacts all professions and listening to different opinions from different people can give us a better picture of what may come in the near future. I hope to buy a house 3 or 4 years from now, so I’m interested in this topic since it will affect me when the time comes to buy a house. Sorry for the light rant. I just hate that the same people who are always going on about free speech on the internet are the same people that will troll and bully you when they disagree with you. That’s social media for you I guess.
I think Trump might be for a system for cutting the red tape for legal immigration which would include some sort of vetting. He only said he is against illegal immigration.
Manipulating the housing market can have significant consequences . We like to poke the capitalistic market and then we cry when the monster bite us. We haven't learn from reducing rates artificially. Instant gratification is always a tradeoff with long time dissatisfaction. Economy 101 let the markets adjust themselves. God Bless America a manipulated capital society.
The last thing is Electricians, Plumber, HVAC, and Carpenters will raise rates...all because they took trade out of the high schools ending alternative schools....good luck with the prices going down
In 2020 in South Mississippi you could get a 1 acre , 1500sq ft 3br 2ba for $165k - $175k at 3%. Now it'd be worth $225k and you can't get below 6%. I'm sure it's worse in other states.
You nail the immigration part about doing the dirty work and working for less. It’s the same reason 99% of businesses resort to China for manufacturing. American labor is simply more expensive, and not necessarily more quality either, but that’s besides the point. Just look at any construction sites and you will always see Hispanics. If everyone expects companies to just eat up the cost of extra labor, that’s essentially lowering company growth, which is what drives the economy and typically create more jobs.
I wish you or someone with knowledge of the marke would do a great video like this one on how Trump is going to affect renters, especially low-income Section 8 HUD renters and even landlords.
Your video is a roller coaster! Tolkien said, "Go not to the Elves for answers, for they will say both 'Yes' and 'No'." Sigh. I just decided to sell to a house flipper. As an ADHD person, the attraction of not doing paperwork was irresistible.
sounds like you probably left money on the table to avoid doing paperwork. Selling off market is always the wrong answer if you're trying to maximize price.
Important to know first term is completely different from second term as he will have nothing to lose. If we can cap housing growth it will give Americans a healthy life style. Bring back affordability for all. Get rid of Freddy and Fannie for artificially inflating housing due to their losses from 2008.
Hi Jeb, one thing you forgot to mention or consider is that it’s not just lower taxes that will affect housing. The cost of energy going down as soon as we start utilizing our own oil again, will make everything more affordable to haul around for the entire economy. We’ve been beholden to other countries for energy the last four years, and that cost trickled down to every consumer, and business owner.
@@brookteleguz2462 trump said that a lot. It’s not going to help unless the US spends billions to build the infrastructure to refine our oil. They won’t. Trump presents half baked, simplistic plans to the MAGA faithful and they believe him.
Higher tariffs are going to be a disaster! They already pay 25%; He wants to increase it another 10% to 15%. Us govt. employees are not looking forward to that if it happens.
Depends on which side you are looking at..........If you're an owner, it helped considerably as rates stayed lower for longer pulling demand forward and pushing prices higher (but understand this was only because they were trying to stimulate the economy which ended up causing the inflation that we are adjusting for today) You could look at that as good and bad. If you benefited, it's probably good.......if you didn't then it's viewed as bad. That said, the biden administration did nothing to help with the bigger problem which is inventory. Until you have someone addressing the bigger issues, affordability will continue to be a problem. The problem with any presidency is that they get too much credit for the good and way too much blame for the bad. The issues we are facing today is a culmination of multiple presidencies not doing anything to fix the underlying issues.
Trump printed up more currency during his term, which caused then the value of the US DOLLAR dropped worldwide. That caused the price of everything to go up nationwide....he printed more money than ever before in American history (trillions! ) it destroyed our economy but that didn't occur till he left office
for now it looks as if we did........there's definitely a lot of people that believe the data being reported right now on employment, etc......isn't accurate and that we are still headed for a recession.
I dont think people understand about Immigrants. They are NOT buying houses....You are correct. But that is NOT the factor here.. They are Renters!... In this market people can not afford homes.. So now Every renter is compeating against immigrants as well. More Renters and less rental properties equal higher rental prices.... Now this directly correlates to HOME inventory as well. Alot of people instead of selling, are Renting their homes because they can not afford to sell with the current interest rates, or they are not renting their homes and just staying in it for now...... Again, This in turn takes HOME Sale inventory off the market and converts them to Rentals. Less Homes to purchase, Inventory is Down, Home Prices go up.. Less affordability. Mass deportation is a key factor and will have a direct result in home prices and affordability. Less renters.....= A more equalization of supply and demand. As this becomes more level in the market, Prices of homes will stabilize..... Lower interest rates in the long term will bring more sellers to the market and buyers at the same time.
@@nspencer257 We are actually outsourcing less. The American population is not educated or trained to do anything else other than manual or industrial labor. China is even moving more toward a service oriented country as their education level rises. Industrialization base economies are for the third world or developing countries. The US is falling way behind the rest of the developed countries. But, go ahead and defund education more and gut the DOE! That will surely help. Says no one with a brain.
I disagree about the construction jobs. I live in a red state and people here run and own their own landscape businesses and privately owned construction businesses.
@JebSmith it's a myth that Americans do not take those jobs. Instead they own their own business as an umbrella for those jobs. The stats are not correct.
Overall, finding the money to get a house is a problem, The approval process is a problem requiring insane documentation, Property tax is a problem cause should have the ability to own with no extra cost that why tax money is there for, human greed which we cant change, No enough being built for demand so corporate buy is just making it worse, insane Interest in your house your bill will keep you enslaved. Solution -Fixing turn around time for homes to be buit -Creating a high quality strong structure but at a affordable cost by reinventing material -Make everything that "less rocket science" -OVERALL RETHINK & REINVENT EVERYTHING FROM THE GROUND UP............. IT 2024, WE HAVE COOL STUFF TO MAKE THIS HAPPEN
Federal land is not really buildable. It can be done but will be extreeeeemely expensive. Also by the time you get the houses built after all the red tape will be at least 3 yrs..if not longer hahha
My honest opinion? He will continue to blow this housing bubble even further. He will cut regulations and allow individuals who cannot afford a home to get a home. Mayne 40 or 50 year mortgages. Debt to income ratio will change. Credit ratings etc....
In order for any of that to change, they have to change the qualified mortgage guidelines which I don't believe will happen. He's never said he wants more people to own homes but he has said he would like lower rates which isn't necessarily for housing but it helps boost the economy as a whole which likely leads to higher home prices down the road.
@rudyubaldo8793 People are still buying houses. I'm not sure how the statement : people have no money is even possible. Houses wouldn't be this high if people weren't buying them
@rudyubaldo8793think about your comment a little bit. When interest rates were low, pretty much everything was cheaper and that drove house prices to the moon. If EVERYONE tries to wait and buy low, what do you think will happen? Competition. We have only two options, keep rates high for a long time and go through recession….or keep dropping rates and super inflate to unsustainable levels. The Fed rate is trying to do the latter while the 10 year treasury thinks otherwise. It’s been an interesting tug of war since the Fed dropped 50 basis points…
Booming is relative.......stock market is going crazy, inflation is under 3%, unemployment is stable......either the numbers are right or someone's lying. Which is it?
@jebsmith If you remove government jobs/spending we are in a recession. GDP is negative and jobs market is in significant decline. The government is manipulating the numbers.
Tariffs don't necessarily transfer to the purchaser. In most cases what will happen is the manufacturer will bite the bullet on the cost or use cheep materials to hit the target selling price of an item
Maybe not always but the responsibility for paying import duties usually falls on the importer of record, which could be an individual or a business entity which is typically passed along to the consumer in a higher price.
So imagine a bottle of soda even with inflation I can't sell for a ridiculous amount of money because it's a widely bought consumer good. Even if it gets tariffed and the cost passed down makes the bottle of soda $10 there will always be someone else offering a cheaper alternative not to mention whoever gets served will want to figure out how to lower their price
@@josethmorale7881dude 70% of U.S economy is consumption. It will cause inflation either cause tariff or shortages. And no corporations under no way will “eat the bullet” first they give you a kick in the ass. Sorry but that is how it will be. Just name 1 big company that did what you say from 2 years ago? Any?
Did they bight the bullet when supply chains were disrupted during the pandemic? NO! THEY GOUGED AMERICANS AND WILL AGAIN. THEY HAVE ALREADY SAID THEY WILL PASS IT ON TO CONSUMERS.
I hope trump get rid of credit score in order to get an apartment. Landlords want you to have the perfect credit score in order for you to rent a apartment, and that is unfair to a lot of americans.
So you don't think a landlord should have any means to judge whether or not you would pay the rent and take care of his place? History has many examples where private property ownership has been prohibited. Typically people who live in those places are poor and wish they could have a more capitalist system.
hahahaha, says the guy who says "stop letting corportations buy them". They own less than 1% of all residential real estate. You should probably focus on understanding the underlying principles of what drives housing rather than commenting on youtube videos.
I am right wing . And trumps victory is the most amazing thing and will certainly benefit the world . Bring back the family traditions, and values , entrepreneurship, financial education at schools from early age , more successful civilians
Funny! None of that happed during his first failed term! He will claim credit for Biden's recovered economy in the next 3 months, then proceed to run it into the ground like last time.
I'm pretty sure you are wrong. If he had good family values, he won't have so many children from 4 different wives. Or cheat on his wives, taxes, charities.......😂
Trump is gonna make America great once again . Housing won’t really go down but affordability will . Also when we become a world super power on energy exports that’s also gonna change the game for us Americans . That will actually be the thing that c like get rid of taxes all together.
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✅ - Work Directly with My Team - www.jebsmith.net/referral
⏩My Thoughts Are Changing On The Housing Market - th-cam.com/video/G9EhNNutDgk/w-d-xo.html
⏩My Thoughts Just Shifted On The Housing Market - th-cam.com/video/eISZkYWXR-M/w-d-xo.html
✅ - Ratewatch - www.jebsmith.net/ratewatch
stop LETTING CORPORATIONS BUY THEM
Corporations are NOT the problem. Of course they don't help but they own less than 1% of all residential real estate. The biggest issue is the lack of new construction which is keeping inventory low, prices higher than they need to be and affordability near record lows.
@@JebSmith In CA it's local zoning codes and environmental law being used to drag developers into costly court battles. CA is where the housing crisis started and it spread all over the country in red and blue states alike. One also needs to reconsider the building of single family housing since it is a costly feature to American life. Cars are overpriced and costly no matter how you look at them and are a byproduct of the suburban lifestyle. I suggest a revamp of urban planning all together.
@@JebSmith I think the 20 million immigrants coming into the market soaked up all the supply. If we mass deport, it's going to really raise supply and lower prices (hopefully)
@@JebSmith Investors have bought a lot more than 1% of the SFHs that sold in the last 4 years. The 1% you're quoting is 1% of all existing homes but only about 10% of existing homes have sold in the past 4 years.
Spoken like a true investor obviously I disagree all that stuff he wants to do could bring back higher inflation and guess who he will blame if builders would stop marking up new homes prices by over 100% of cost to build more people could afford homes 🙄
Tired of them propping up the property bubbles. Make housing affordable again. It's not a crisis to have too much supply to allow people to buy them cheaper. I'll buy something there if the price is right. Tired of these ridiculous $400K+ prices for houses.
The real problem is our gov't allowing this to happen to begin with. We can't blame the innovating businessman.
I wish houses were $400k+ around here. Try $1.2m!
it's just reasonable to explore other finance sectors and diversify your portfolio with the guidance of a financial advisor. This strategy has significantly boosted my own portfolio by 80% in the last year alone, now valued at $1.2 million.
Consider this: as a savvy investor, you wouldn't prioritize a fairly-valued house with a $100k mortgage over a highly overvalued one with a $700k mortgage, would you? The latter offers far greater lending and interest opportunities.
This is why banks often inflate asset values and avoid price discovery in real estate. Meanwhile, governments also benefit from higher property taxes and assessments. Unfortunately, this creates a system where high real estate prices persist, benefiting most parties involved except home buyers.
However, it's crucial to recognize that this bubble will eventually burst. Diversification and expert advice can help you navigate this complex landscape and make informed decisions.
@@grinjohnson6452 "innovating businessmen" 🤣🤣
Good analysis.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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 witnessed the 2008 financial crisis can expect to generate a large wage.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Sophie Lynn Carrabus is the licensed advisor I use and i'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
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.
Summarizing: no one knows what the hell is going to happen.😂😂😂
@@LeskyAM Oh....economists know. They've said Trump's claims that all of his radical plans are going to be great for the economy & stock market are absurd, and will crater the economy & stock market. Trump's full of 💩. Who's dumb enough to believe a serial liar? 👎
🤣🤣right
👍🏻
Hey Jeb,
I live in the Mid South, i noticed that there is a lot of vacancy within neighborhoods of Cities and small towns.
There's a lot off space for infill, development, clean slates.
There are vacancies of homes, vacancies in the high rises, vacancies of apartments.
Basically there are many neighborhoods and towns that would love to see investments.
Why focus on federal lands? That sounds like a benefit for big money, not the average america.
@jDvon10 no vacancies in Savannah or out lying areas..we have a housing shortage and they're building more as quickly as possible. Georgia is booming in this area.
Jeb, I was expecting a one-sided argument on how everything would be rosy in the housing market with Trump becoming the 47th president. I'm thoroughly impressed you dissected everything and looked at the facts.
hahahaha, I appreciate it. I think 😂
@@JebSmith Meant it as a compliment! I'm new to the channel.
I thought the same. I appreciate him giving us a thorough rundown of the pros and cons.
the Hospitality, agriculture and construction industries cannot survive without immigrants, add the tariffs and we're in trouble..
also keep in mind when you say that Trump is "a business man: "that Trump's CV has no less than 18 business failures.
Let's hope the US is not next
Exactly!
Legal immigrants aren't going anywhere
Absolutely false look I have studied this over thirty years what you are repeating is Chamber of Commerce's talking points.
There is over 15 guest worker programs,less than 5% of immigrants work in agriculture and I could go on.
Lower taxes will only really benefit rich people not the average person so that doesn’t help anyone but rich people. Everything you talk about leads to corporate ownership of housing - it doesn’t help most people.
Exactly!
He advocated for no taxes on overtime hours, no taxes on tips, no taxes on social security, and no taxes on the interest of our car loans. I’m not sure how you can say that only benefits the rich, when that covers every category from poor to middle class families.
@@brookteleguz2462 That is hardly a majority of the working class - so no none of those are consequential - in fact unless you are a waitress it will not benefit you. But he also wants to eliminate overtime pay so - hurts them on that, he wants to "reform" social security - which is shorthand for reduce and eliminate income to seniors after they have left the work force, but which they paid into all their lives , and tipping instead of actually paying workers in itself needs to end - workers just need to get paid - right now the owners divvy up the tips and skim off part for themselves - so he's just helping them - but I believe the tips he wants taxes eliminate on are the ones to the judges and congress.
@@brookteleguz2462 that was the election con. Trump is a documented liar, so most of these promises will never happen.
@@christine7475 Share factual sources
Funny...my taxes went UP after the 2017 cuts...I was already itemizing more than the std ded so that had zero impact, but the personal exemption went away and straight to my taxable income...
Unfortunately I was in a similar boat!
Exactly! So do everyone elses...his tax cut was for the rich. Not the average citizens
mine too
@@8675-__
Doubled the standard deduction $15K>> $30K
doubled the CTC $4K>> $8K
lowered my tax rate 15%>>12%
~$8K left in my pocket, I'm average
I’m 31 and just bought our first house last year at 6.99.. Hoping to turn it around and refinance soon to help out with the new baby! Thanks for your info!
I think you'll get an opportunity in 2025 assuming inflation doesn't go out of control again.
@@JebSmith Interest rates will not go down if prices rise. Stop your lies.
Jeb, I appreciate your input. Time will tell.
Thank you........all we can do is control the controllables.
Removing restrictions on federal land will make VERY little difference in making building more attractive or feasible. Basically, that's not the problem. There's already plenty of buildable land in the U.S. with power and even city water/sewer. What there's NOT plenty of is builders willing to foot the already high building labor & material costs in a such a risky environment with such few regular non-institutional homebuyers, plenty of Wall Street buyers, high food/housing inflation endangering down payments, high interest rates disqualifying many would-be mortgage applicants where mortgage lenders are required by law to properly qualify borrowers, with the impending risk of 60-100% tariffs on Chinese & Mexican goods (much of which are needed for constructing new houses) under Trump & the risk of mass deportations shrinking the construction labor force plus two wars that adversely impact the integrity of the worldwide supply-chain. It's just too much risk & adverse economics for build-to-sell constructors to absorb. Build-to-rent builders, on the other hand, would do well to build modest houses to rent out, since high rates will keep the tenant queue eternally long.
You make some great points. Thanks for sharing.
I completely agree with you! People just don't understand the cost of building new homes especially if they are custom built. And how hard it is to find qualified people to work for you.
Great points!
From the research i have done most federal land is inhabitable. For the most parts they are really far from cities, are in wildfire zones, flood zones or have very little water resources such as lakes. The lands are rough terrain and contain wildlife that will he completely decimated. I do think there is way too much red tape when it comes to building but safety needs to be priority. The red tape i have issues with is zoning and structural styling of buildings. One area i hope to see changes with is ADUs. I have a large enough backyard where i should be able to fit a prefabricated ADU but the city told me no because it doesn’t match the style of homes around me. My fear is if interest rates lower at too fast of a pace it will negatively affect the market and cause housing prices to skyrocket and then there will be an over correction with interest rates going back up while housing costs take even longer to drop back down. I also fear the financial institutions will have less government oversight and do shady nefarious activities to screw over the uneducated potential home buyer.
So to sum up my rant, short sighted success will lead to long term failure.
I appreciate you taking the time to lay out your thoughts. I definitely agree with you on the federal land piece. It sounds great in theory, but I’m not sure it’s really applicable. Where do you live? I’m curious because of the ADU comment.
@ California, specifically Sacramento. I know laws regarding ADUs have changed throughout the state but there is still a lot of red tape.
@@JebSmith as an architect anything trump does is a disaster. It is also extremely expensive to build in these areas. It is not feasible
Exactly! Water is an important factor. You want it to drink not to flood your property
I completely agree with everything you said! It all makes perfect sense. And I don't believe all the empty promises Trump makes. He made many promises last time and didn't fulfill them. He's full of hot air!
Thank for always being transparent
appreciate the support.
Thank you for your input as a real estate professional. Some people here think one can only talk about the economy if you are an economist or on Wall Street. The economy obviously impacts all professions and listening to different opinions from different people can give us a better picture of what may come in the near future. I hope to buy a house 3 or 4 years from now, so I’m interested in this topic since it will affect me when the time comes to buy a house. Sorry for the light rant. I just hate that the same people who are always going on about free speech on the internet are the same people that will troll and bully you when they disagree with you. That’s social media for you I guess.
I think Trump might be for a system for cutting the red tape for legal immigration which would include some sort of vetting. He only said he is against illegal immigration.
under Orange criminal my apartment rent went up 33% in 2018 when I renewed my lease
that makes sense. why would rents go down when a real estate developer is getting advice from real estate investors on his presidency?
Liberals are weird lol.
@@aaronk350 and yet they pass more legislation than conservatives. can you name one bill that passed the house of representatives since 2022?
Thank you 🙏 for explaining this
Glad it was helpful!
Manipulating the housing market can have significant consequences . We like to poke the capitalistic market and then we cry when the monster bite us. We haven't learn from reducing rates artificially. Instant gratification is always a tradeoff with long time dissatisfaction. Economy 101 let the markets adjust themselves. God Bless America a manipulated capital society.
The last thing is Electricians, Plumber, HVAC, and Carpenters will raise rates...all because they took trade out of the high schools ending alternative schools....good luck with the prices going down
In 2020 in South Mississippi you could get a 1 acre , 1500sq ft 3br 2ba for $165k - $175k at 3%. Now it'd be worth $225k and you can't get below 6%. I'm sure it's worse in other states.
That sounds pretty affordable when looking at what's happening nationwide.
Nothing but the truth!!
(I doubt people would want to move to Federal land)
You nail the immigration part about doing the dirty work and working for less. It’s the same reason 99% of businesses resort to China for manufacturing. American labor is simply more expensive, and not necessarily more quality either, but that’s besides the point. Just look at any construction sites and you will always see Hispanics. If everyone expects companies to just eat up the cost of extra labor, that’s essentially lowering company growth, which is what drives the economy and typically create more jobs.
I wish you or someone with knowledge of the marke would do a great video like this one on how Trump is going to affect renters, especially low-income Section 8 HUD renters and even landlords.
Happy you are doing a video on this, I would like to buy a home in 2025
I appreciate the support. Reach out if we can help.
Stronger economy means higher cost for home buyers
That’s my belief as well
We are in a stronger economy right now! Despite what Fox News propaganda tries to tell Americans.
Is that why houses are too expensive now ?
@@JebSmith He is going to trash the economy and you know it. Higher prices and low wagers based on his tariffs. The only ta cut was for the rich.
People are delaying the inevitable cycle of the economy for too long.
Builders are passing on cost because they can get away with it
Your video is a roller coaster! Tolkien said, "Go not to the Elves for answers, for they will say both 'Yes' and 'No'." Sigh. I just decided to sell to a house flipper. As an ADHD person, the attraction of not doing paperwork was irresistible.
sounds like you probably left money on the table to avoid doing paperwork. Selling off market is always the wrong answer if you're trying to maximize price.
Important to know first term is completely different from second term as he will have nothing to lose. If we can cap housing growth it will give Americans a healthy life style. Bring back affordability for all. Get rid of Freddy and Fannie for artificially inflating housing due to their losses from 2008.
"Americans can do those jobs now; they're just choosing not to" Thank you...
A lot of talk no action Trump talks a bunch of garbage!!
Hi Jeb, one thing you forgot to mention or consider is that it’s not just lower taxes that will affect housing. The cost of energy going down as soon as we start utilizing our own oil again, will make everything more affordable to haul around for the entire economy. We’ve been beholden to other countries for energy the last four years, and that cost trickled down to every consumer, and business owner.
@@brookteleguz2462 trump said that a lot. It’s not going to help unless the US spends billions to build the infrastructure to refine our oil. They won’t. Trump presents half baked, simplistic plans to the MAGA faithful and they believe him.
Housing prices doubled where I live, and my salaries didn't go nearly as much. Please stop using housing as an investment tool.
More supply lower price 🙏
@@TM-li7bl So, how do you increase supply in areas where the jobs are? It's mostly about local government and regulations.
Federal land is totally buildable out west. Plenty of land close to existing cities
Higher tariffs are going to be a disaster! They already pay 25%; He wants to increase it another 10% to 15%. Us govt. employees are not looking forward to that if it happens.
Shooot With DOGE they can get ride of 100 Gov agency to make a "Department of making homes for the US"
Question for you: did the Biden administration’s policies help or hurt the housing market? And in what ways?
Depends on which side you are looking at..........If you're an owner, it helped considerably as rates stayed lower for longer pulling demand forward and pushing prices higher (but understand this was only because they were trying to stimulate the economy which ended up causing the inflation that we are adjusting for today) You could look at that as good and bad. If you benefited, it's probably good.......if you didn't then it's viewed as bad.
That said, the biden administration did nothing to help with the bigger problem which is inventory. Until you have someone addressing the bigger issues, affordability will continue to be a problem.
The problem with any presidency is that they get too much credit for the good and way too much blame for the bad.
The issues we are facing today is a culmination of multiple presidencies not doing anything to fix the underlying issues.
Trump printed up more currency during his term, which caused then the value of the US DOLLAR dropped worldwide. That caused the price of everything to go up nationwide....he printed more money than ever before in American history (trillions! ) it destroyed our economy but that didn't occur till he left office
We got the soft landing but imagine everyone still mad about it.
for now it looks as if we did........there's definitely a lot of people that believe the data being reported right now on employment, etc......isn't accurate and that we are still headed for a recession.
I dont think people understand about Immigrants. They are NOT buying houses....You are correct. But that is NOT the factor here.. They are Renters!... In this market people can not afford homes.. So now Every renter is compeating against immigrants as well. More Renters and less rental properties equal higher rental prices.... Now this directly correlates to HOME inventory as well. Alot of people instead of selling, are Renting their homes because they can not afford to sell with the current interest rates, or they are not renting their homes and just staying in it for now...... Again, This in turn takes HOME Sale inventory off the market and converts them to Rentals. Less Homes to purchase, Inventory is Down, Home Prices go up.. Less affordability. Mass deportation is a key factor and will have a direct result in home prices and affordability. Less renters.....= A more equalization of supply and demand. As this becomes more level in the market, Prices of homes will stabilize..... Lower interest rates in the long term will bring more sellers to the market and buyers at the same time.
BS! Migrants live 10 to 12 people or more to a house in some of the worst neighborhoods. Your analysis is bullshit
Will the Everglades be drained and developed?
hahahaha, I'd love to see it.
@@JebSmith .....really???? how would that be good in anyway? maybe we should just fill the fucking grand canyon and build houses there too?
He will not be able to the land, lumber is still high and if Trump imposes tariffs on Canadian government lumber will sky rocket
It will come down to one thing, unemployment! 200k jobs lost again. Can’t stop AI!
And outsourcing to other countries.
@ we did that due to greedy corporations which were set up for us now we are set up for them. Anyone doing anything with India/china is the problem.
@@nspencer257 We are actually outsourcing less. The American population is not educated or trained to do anything else other than manual or industrial labor. China is even moving more toward a service oriented country as their education level rises. Industrialization base economies are for the third world or developing countries. The US is falling way behind the rest of the developed countries. But, go ahead and defund education more and gut the DOE! That will surely help. Says no one with a brain.
I disagree about the construction jobs. I live in a red state and people here run and own their own landscape businesses and privately owned construction businesses.
so what does that mean exactly?
@JebSmith it's a myth that Americans do not take those jobs. Instead they own their own business as an umbrella for those jobs. The stats are not correct.
Trump is such a good business man that his casino and university went bankrupt. 😂
Whats your networth?
Overall, finding the money to get a house is a problem, The approval process is a problem requiring insane documentation, Property tax is a problem cause should have the ability to own with no extra cost that why tax money is there for, human greed which we cant change, No enough being built for demand so corporate buy is just making it worse, insane Interest in your house your bill will keep you enslaved.
Solution
-Fixing turn around time for homes to be buit
-Creating a high quality strong structure but at a affordable cost by reinventing material
-Make everything that "less rocket science"
-OVERALL RETHINK & REINVENT EVERYTHING FROM THE GROUND UP............. IT 2024, WE HAVE COOL STUFF TO MAKE THIS HAPPEN
I'm paying for Trump's "tax cut" and stimulus check back now!
@jebsmith is that a real tweet from DJT?
Federal land is not really buildable. It can be done but will be extreeeeemely expensive. Also by the time you get the houses built after all the red tape will be at least 3 yrs..if not longer hahha
Um... my boyfriend is in construction and it is not easy to find a job lmao
Move to Georgia! Especially Savannah or any area around Savannah
HERBERT HOOVER IS BACK !!!
My rent is $1300
Stop moving to florida. Problem solved
Amen 🙏
My honest opinion? He will continue to blow this housing bubble even further.
He will cut regulations and allow individuals who cannot afford a home to get a home.
Mayne 40 or 50 year mortgages. Debt to income ratio will change. Credit ratings etc....
In order for any of that to change, they have to change the qualified mortgage guidelines which I don't believe will happen. He's never said he wants more people to own homes but he has said he would like lower rates which isn't necessarily for housing but it helps boost the economy as a whole which likely leads to higher home prices down the road.
@JebSmith
The bubble will just get bigger.
Incentives and cuts to regulations.
Anything Is possible
@rudyubaldo8793
People are still buying houses.
I'm not sure how the statement : people have no money is even possible. Houses wouldn't be this high if people weren't buying them
@rudyubaldo8793
Thank you very much.
Truly appreciate your comment and gesture of good will.
God bless
@rudyubaldo8793think about your comment a little bit. When interest rates were low, pretty much everything was cheaper and that drove house prices to the moon. If EVERYONE tries to wait and buy low, what do you think will happen? Competition.
We have only two options, keep rates high for a long time and go through recession….or keep dropping rates and super inflate to unsustainable levels. The Fed rate is trying to do the latter while the 10 year treasury thinks otherwise. It’s been an interesting tug of war since the Fed dropped 50 basis points…
Say you're a raging liberal gaslighter without saying you're a raging liberal gaslighter. 😂
so you clearly don't read people very well.
The economy isn’t booming
Booming is relative.......stock market is going crazy, inflation is under 3%, unemployment is stable......either the numbers are right or someone's lying. Which is it?
@jebsmith If you remove government jobs/spending we are in a recession. GDP is negative and jobs market is in significant decline.
The government is manipulating the numbers.
The economy is better than it was at the end of 2020 under TFG!
@@Palantir_Daily BS!! There is way more job creation occurring in the private and small business sectors. Stop watching Fox News propaganda.
How the inflation is under 3% and the prices is to high and keep going up this is the biggest lie they want us to believe
Tariffs = Recession= Housing Down
Bottom line.. you do not know what will be the policy and actions the new government will take.
Not in a good way.........lowering taxes ??? What a joke. We saw what happened last time dude.
What happened last time that was so bad?
@@JebSmith Deficit and eventual runaway inflation.
Tariffs don't necessarily transfer to the purchaser. In most cases what will happen is the manufacturer will bite the bullet on the cost or use cheep materials to hit the target selling price of an item
Maybe not always but the responsibility for paying import duties usually falls on the importer of record, which could be an individual or a business entity which is typically passed along to the consumer in a higher price.
So imagine a bottle of soda even with inflation I can't sell for a ridiculous amount of money because it's a widely bought consumer good. Even if it gets tariffed and the cost passed down makes the bottle of soda $10 there will always be someone else offering a cheaper alternative not to mention whoever gets served will want to figure out how to lower their price
@@josethmorale7881dude 70% of U.S economy is consumption.
It will cause inflation either cause tariff or shortages.
And no corporations under no way will “eat the bullet” first they give you a kick in the ass.
Sorry but that is how it will be.
Just name 1 big company that did what you say from 2 years ago? Any?
Did they bight the bullet when supply chains were disrupted during the pandemic? NO! THEY GOUGED AMERICANS AND WILL AGAIN. THEY HAVE ALREADY SAID THEY WILL PASS IT ON TO CONSUMERS.
You're crazy! They're forced to pay the price OR close up shop! They can't just eat the cost. Why stay in business IF YOU'RE NOT MAKING A PROFIT?
Big Fat Word salad / commercial for his youtube channel.
I hope trump get rid of credit score in order to get an apartment. Landlords want you to have the perfect credit score in order for you to rent a apartment, and that is unfair to a lot of americans.
Unfair to have good credit? We each control our own credit, how can that be unfair?
So you don't think a landlord should have any means to judge whether or not you would pay the rent and take care of his place? History has many examples where private property ownership has been prohibited. Typically people who live in those places are poor and wish they could have a more capitalist system.
Trump 2024… all the ifs, blah blah let’s see what happens
Tax cuts 🎉
Illegal immigrants heavily affected the rental side of the market because of a Haier rental demand Moore real estate investors buy more homes to rent
There's probably some truth to that......
Make homes affordable again. ( under 300k homes in Phoenix)
YOU need to learn economics BEFORE speaking abiut it
hahahaha, says the guy who says "stop letting corportations buy them". They own less than 1% of all residential real estate. You should probably focus on understanding the underlying principles of what drives housing rather than commenting on youtube videos.
Trump? LOL.. Crisis is waiting to happen.
Its trump trupador
I am right wing . And trumps victory is the most amazing thing and will certainly benefit the world . Bring back the family traditions, and values , entrepreneurship, financial education at schools from early age , more successful civilians
How does it benefit housing? In what ways?
always fascinating to hear what the dumb people think. Thanks for the insight.
Funny! None of that happed during his first failed term! He will claim credit for Biden's recovered economy in the next 3 months, then proceed to run it into the ground like last time.
I'm pretty sure you are wrong. If he had good family values, he won't have so many children from 4 different wives. Or cheat on his wives, taxes, charities.......😂
Trump is gonna make America great once again . Housing won’t really go down but affordability will . Also when we become a world super power on energy exports that’s also gonna change the game for us Americans . That will actually be the thing that c like get rid of taxes all together.
Serious question.........How will he make it more affordable?
😂
Sure everyone wants lower prices and keep it at lower prices until I see this then well and good and if not then we are all f!
Always fascinating to hear where the stupid people are on the issues. Thank you for the insight. Derp derp derpy doo
@@joshuagillego9486 The only way prices go lower or pre-2020 is if we experience a major depression. Which we may well get under Trump!