🤔Thinking of moving to one of New York City's Amazing Suburbs? 💁♂ We would love to help! 💻 Let’s Schedule time to speak: bit.ly/3jHEe73 📨 Email: jeffreymassey@kw.com 📱 Call or What’s App to +1-908-376-9987
You say buy what you can afford but who can honestly afford anything? The house prices are outrageous and wages have not gone up to meet it. You guys are part of the problem telling people to continue to buy and down the line are going to create a complete collapse.
Thanks for watching and commenting. It all comes down to supply and demand. In the NJ area and around NYC (as well as many other parts of the country) there simply isn't enough supply to keep up with the demand. When you say "you guys" are part of the problem, I can see how you might feel that way because agents are probably the only nerds that actually talk about it outside of economists. We haven't built enough homes for the current population of home buyers out there. Also it is worth noting that this is unlike other historic price booms because predatory lending has been cut back significantly (if not all together) so the chances of properties flooding the market because people can no longer afford their homes is thought to be very unlikely. I would recommend getting a pre-approval and seeing what a bank would lend you and then if your goal is to make a purchase you might have to sacrifice size or being in a specific location. It is hard to give you feedback without knowing your specifics. I would be happy to discuss more one on one offline if you would like. Feel free to email me at jeffreymassey@kw.com
Jeff, I appreciate the reply back. I have to disagree. If massive amounts of people start losing jobs, there will be a flood of home in the market. The predatory lending has taken a new form with Banks have been lending out massively over what a home should be valued at with people waving inspections, once a massive problem is found how can they afford to fix it? I am local firefighter and my fiance is a teacher and we cannot afford anywhere on the salaries we make. We essentially have little debt but are constantly outbid. We aren’t looking for anything crazy but I’ll be damned if a realtor tells me I deserve to be living in area with high crime and terrible schools. I ask the realtor the same question when they make a suggestion of compromise or sacrifice, “would you do it?” Almost always it’s a “well I wouldn’t but…” when I say you guys, I mean all realtors, it’s sickening and makes me disgusted that the profession went from helping people into home to becoming a middleman for the big mortgage companies and property management companies buying for portfolios. Your Anwser is a paradox, if prices continue to rise there will be no one here that can afford to live and taxes will be so high no one can live here. You will have no workforce because no one can live here and then the state will continue to struggle. I watch your video surely for information about the market. Obviously it’s all region specific and I get what your saying but your outlook is assumptive that people CAN buy these homes. Wages are not current with home prices, and never will be. Honestly,only hope the federal government mandates what a fair value for a home is because that’s the only way you guys will ever be fair in a market filled with greed. And before you say move into low income or moderate income, I tried. I’ve been rejected because I make too much money for both. But when I go to find a house in a decent area I can’t afford the mortgage because I don’t make enough! Doesn’t matter the town, county or area. Been to Somerset, morris, warren, Hunterdon and guess what all the areas prices and people are all the same. We’re surrounded by greed and people who all want more without realizing what it’s doing to the market as a whole, that’s what I mean by you guys caused this.
Bingo! Historically speaking this is the worst time to buy a house since the Great Depression. It is by definition a “housing bubble”. And realtors will want you to buy regardless if it’s in your best financial interest. And what was his reply? …. “Get a pre-qualification letter” blah blah…. Complete salesman to the end. But it’s ok, AI will have their jobs soon enough
@@michaelburke4829 Hi this is the AI responding, I fired Jeff last week. One thing that people should bear in mind regarding home purchases is that they aren't purely an investment, in fact I'd say they are more of a liability rather than an investment. It is a place to live that happens to have some financial upside if it can be held long term, i.e. more than 7 years, so any potential ups and downs will get absorbed. Everyone needs a place to live right? So you can either buy or rent. In the areas of NJ that I am near most of the stock is for purchase. Also with a purchase you can lock in a good portion of your living expenses and have the potential to refinance. If you rent you have no control over what the landlord can do with your monthly rate. So at the end of the day you can rent or buy or move someplace cheaper and rent or buy there, but you still need a place to live. But hey that's just me trying to sell you something... oh sorry I mean the AI is trying to sell you.
Great question, as far as I know this data is only single family, condo and townhouses, and adult communities. Thanks for watching and commenting. Are you thinking about investing in multi family or house hacking?
🤔Thinking of moving to one of New York City's Amazing Suburbs?
💁♂ We would love to help!
💻 Let’s Schedule time to speak: bit.ly/3jHEe73
📨 Email: jeffreymassey@kw.com
📱 Call or What’s App to +1-908-376-9987
You say buy what you can afford but who can honestly afford anything? The house prices are outrageous and wages have not gone up to meet it. You guys are part of the problem telling people to continue to buy and down the line are going to create a complete collapse.
Thanks for watching and commenting. It all comes down to supply and demand. In the NJ area and around NYC (as well as many other parts of the country) there simply isn't enough supply to keep up with the demand. When you say "you guys" are part of the problem, I can see how you might feel that way because agents are probably the only nerds that actually talk about it outside of economists. We haven't built enough homes for the current population of home buyers out there. Also it is worth noting that this is unlike other historic price booms because predatory lending has been cut back significantly (if not all together) so the chances of properties flooding the market because people can no longer afford their homes is thought to be very unlikely.
I would recommend getting a pre-approval and seeing what a bank would lend you and then if your goal is to make a purchase you might have to sacrifice size or being in a specific location. It is hard to give you feedback without knowing your specifics. I would be happy to discuss more one on one offline if you would like. Feel free to email me at jeffreymassey@kw.com
Jeff, I appreciate the reply back. I have to disagree. If massive amounts of people start losing jobs, there will be a flood of home in the market. The predatory lending has taken a new form with Banks have been lending out massively over what a home should be valued at with people waving inspections, once a massive problem is found how can they afford to fix it? I am local firefighter and my fiance is a teacher and we cannot afford anywhere on the salaries we make. We essentially have little debt but are constantly outbid. We aren’t looking for anything crazy but I’ll be damned if a realtor tells me I deserve to be living in area with high crime and terrible schools. I ask the realtor the same question when they make a suggestion of compromise or sacrifice, “would you do it?” Almost always it’s a “well I wouldn’t but…” when I say you guys, I mean all realtors, it’s sickening and makes me disgusted that the profession went from helping people into home to becoming a middleman for the big mortgage companies and property management companies buying for portfolios. Your Anwser is a paradox, if prices continue to rise there will be no one here that can afford to live and taxes will be so high no one can live here. You will have no workforce because no one can live here and then the state will continue to struggle. I watch your video surely for information about the market. Obviously it’s all region specific and I get what your saying but your outlook is assumptive that people CAN buy these homes. Wages are not current with home prices, and never will be. Honestly,only hope the federal government mandates what a fair value for a home is because that’s the only way you guys will ever be fair in a market filled with greed. And before you say move into low income or moderate income, I tried. I’ve been rejected because I make too much money for both. But when I go to find a house in a decent area I can’t afford the mortgage because I don’t make enough! Doesn’t matter the town, county or area. Been to Somerset, morris, warren, Hunterdon and guess what all the areas prices and people are all the same. We’re surrounded by greed and people who all want more without realizing what it’s doing to the market as a whole, that’s what I mean by you guys caused this.
Bingo! Historically speaking this is the worst time to buy a house since the Great Depression. It is by definition a “housing bubble”. And realtors will want you to buy regardless if it’s in your best financial interest. And what was his reply? …. “Get a pre-qualification letter” blah blah…. Complete salesman to the end. But it’s ok, AI will have their jobs soon enough
@@michaelburke4829 Hi this is the AI responding, I fired Jeff last week. One thing that people should bear in mind regarding home purchases is that they aren't purely an investment, in fact I'd say they are more of a liability rather than an investment. It is a place to live that happens to have some financial upside if it can be held long term, i.e. more than 7 years, so any potential ups and downs will get absorbed. Everyone needs a place to live right? So you can either buy or rent. In the areas of NJ that I am near most of the stock is for purchase. Also with a purchase you can lock in a good portion of your living expenses and have the potential to refinance. If you rent you have no control over what the landlord can do with your monthly rate. So at the end of the day you can rent or buy or move someplace cheaper and rent or buy there, but you still need a place to live. But hey that's just me trying to sell you something... oh sorry I mean the AI is trying to sell you.
Question: would multi family data be captured in the condo report?
Great question, as far as I know this data is only single family, condo and townhouses, and adult communities. Thanks for watching and commenting. Are you thinking about investing in multi family or house hacking?
@@Jeff-Suburbs-of-NYC I am an owner of a multi family in Kearny and I would like to get another some time this year.
@@villaC013 That is great, congrats on the first one! How many units are you looking for with the second purchase?