“Homes are piling up”. Realtor.com reports 40% inventory spike across the South.
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- เผยแพร่เมื่อ 12 ต.ค. 2024
- Housing inventory is skyrocketing across America's housing market right in October 2024. New data from Realtor.com shows the supply jump is biggest in the South, in real estate markets like Texas, Florida, Georgia, North Carolina, and Arizona.
Homes for sale increased most in San Diego, CA, with a 77% increase in active listings YoY. This supply jump in San Diego is now causing home prices to begin to slow and drop in some areas.
One has to wonder what this supply surge will mean for the US Housing Market in 2024 and beyond. Could it mean that prices are finally ready to drop? After all - homebuyer demand is still very low.
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Some of these inventory gains are breathtaking. 77% YoY in San Diego. 75% in Tucson. 74% in Tampa. These Sun Belt boom markets are beginning to revert.
Access inventory trends in your ZIP code on Reventure App: www.reventure.app
Tampa? HA!
Tampa market will be magnified by hurricane properties coming on the market and people giving up and walking away from properties
U rich prix living off generational wealth buyin up all the homes to rent out is why they r expensiv
@@3sc4p1sm definitely part of the reason
the gains are coming off of breathtaking lows though, just for context
This is not uncommon. I’m a 60 year-old man, and I’ve seen this cycle three maybe four times in my lifetime. I’ve said this for the last two years now it’s just a matter of time before it comes crashing down people, don’t race to buy a house let the damn thing come crashing down.
Less its 100 year old house, used its not worth the affordability
Thank you for saying what I was feeling. We could Let them have it all before I pay for overvalued property.
Me too 1981 way worse and coming AGAIN too.
2007 was a bargain. @@jimshoe402
I've seen this a few times myself and when the price pendulum swings the other way, home prices usually become ridiculously low.
I’ve seen houses going for around 270-300k before pandemic still going for 600k now .. houses are overpriced
Where?? Not here in SC
@@AltaicPride01Greenville and Charleston are expensive
Totally
💯 I have a rental property valued at $300k well before 2019. Around mid 2020 the homes in my area (all nearly identical in size, quality, amenities) reached 700k or more. Many people told me that I was crazy to continue to allow individual boarders to rent rooms from me at $750/month. But that cost more than paid the remaining mortgage, tax, insurance and bills. I bought at a good time and my renters came along for the ride of a good deal. I was (am) able to continue to enter the home common areas any time I want and keep the home cleaned and maintained. These great and reliable tenants have paid for a house for me and in turn they get to live affordably compared to their friends a coworkers. Now, all my neighbours are freaking out and I'm chill. My tenants show no sign of wanting to leave. But those around me who treated a home merely as an investment tool are about to lose their shirts. I am well positioned to take advantage of a market dip if it finally sinks to reality. And I will continue to use the boarding house model and charge more than fair prices for a win-win. My tenants are gold and are an asset to the community.
I have seen NO drop in prices in NY or MA.
WAIT THEM OUT and drive the prices down. PLEASE!!!
those McMansions in texas are so impractical. it's gotta be like 1000 dollars a month to air-condition the place.
Waiting. It’s gonna happen.
Yes, I agree. We need more young people to buy houses. It's better for our citizens to own rather than rent. So much better for children too! Good luck to all you young people 💕
The asking prices are still 300% too high
and ill continue to wait it out until its 300% corrected, no sellers, your house didn't appreciate 100% in a year. sorry that I didn't drink the "everything fine" koolaid coming from you know where.
Right!! They are barely dropping prices some only a Dollar $1 it’s a joke
@@FreddyPrays Dontvwsit on Monmouth county NJ still booming at best flat. Lots of new business opportunities coming and many still here. That’s if you want to work…
Make sure ur affairs r in order to buy something bro the prices will drop..m
@@FreddyPrays Buy while you can. 10 years from now prices will be up another 50-100%
No way current home prices are sustainable ... The rich and corporations are gouging the middle class
Just start doing multiple families in single family homes.
Get that $700 rent for 4 people. Screw it. Sincerely. 1 year of sacrifice to have thousands together with your family.
Thoughts?
@@notoriouswillyb4390 In big cities that have high house prices, this is very real! NYC, Toronto, SF, LA. People have no other way of dealing with rising house prices, other than co-inhabiting, or living in multi family housing.
Rich corporations are beginning to sell.
YOURE so right
This seems to be what my new neighbors are doing. At least 6-8 adults in one home. At night there are easily 5-6 cars parked on the lawn. Total eye sore. @notoriouswillyb4390
“Homes are piling up.” In Tampa Bay this isn’t just a metaphor…
😮
😂
Moron!
Yeah but they aren’t affordable yet. I want to buy, have a job and nice dp but still cannot do it because the prices, taxes and insurance make it impossible on an average Florida income.
I had a realtor friend in St. Louis call to tell me of fixer properties in the upper $200s. I told him to call me back when an okay house in an okay neighborhood has a "1" in the first digit.
😂
I’m in St charles and the prices are ridiculous. I’ll wait.
As in St Louis..missoury..no offense..but those prices are offensive
You will never, ever, see that 1, and if you do, it will be half torn down just because of a fair job market, natural inflation, population increase, immigration and competition from investors.
Right? It's as if the digit "1" doesn't exist anymore smh
After hurricane Helen and milton people in florida are fedup with hurricane and insurance they're going to start selling even more
And what idiots are going to buy them? Florida is a dumb state to live. It has oceans on 3 sides. Yay 🙄
Unfortunately I doubt anyone with common sense would want to buy.
@SmokieJay unfortunately people don't have that anymore
Depends on how many houses get completely trashed/destroyed
Hurricanes can make for less houses on the market in a day literally
Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.
The housing market in 2024 poses difficulties due to uncertainties about the Federal Reserve's ability to curb inflation and reduce borrowing costs without adversely affecting demand for assets like homes and automobiles.
Consider shifting from real estate to stocks during severe recessions. While market volatility presents short-term trading opportunities, it's crucial to approach with caution. This isn't financial advice, but investing during such times may be a strategic move, consider adopting the services of a financial expert.
In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.
who is your advisor please, if you don't mind me asking?
My CFA Stacy Lynn Staples’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Let it drop, let it drop, let it drop 🎵🎶🎶🎵🎵
half a million for a 3 bedroom home is crazy, not counting on hoa, insurance, taxes, renovations
Sounds cheap compared to where I live.
In San Diego it starts in 1mi
That's the minimum in swfl. But after this hurricane season, buyers are gonna be spooked. Good for the locals, bad for the builders 😂
@@endofsociety exactly i live in miami and bought my home for 300k, now its worth 580k, and its a small house
@@brolim. I just came back from Miami. I fled from hurricane milton. Miami is nice but too damn expensive. Drove through Miami many times, but never stayed there until recently. And you guys stole most of the beautiful women in Florida 😂
Thank you for touching on California again! You and your channel is a blessing to the people dying to buy a home.
Thanks for the comment!
You’re really dumb if you listen to this guy lol. He’s trying to sell his worthless app
Too many people are afraid of losing their job and don't want to be saddled with a mortgage
Good point.
Yep, it's also lots easier and cheaper to break a lease if you need to bail for a job in another state.
They going to live in their car?
Nobody wants to catch a falling knife. I won't buy a $400k house today if I'm confident I can get it for $350k next year.
The reality:
Buy when it affordable for your situation
What if your area is an outlier and is maybe flat then, begins to increase price wise ?
I'm buying brand new build all cash. $50k off, I'm cool with that. There are people buying on finance at full price, so what do I care ?
If anything, finance buyers are never in position to recognize deals of any sort
In Florida the knives don’t fall. They fly around at a 150 mph…
You'd be surprised the reason everything is so high isn't just greedy big business it's stupid stupid people, particularly people willing to go into debt up to their eyeballs
@@astrahcat1212 This was certainly the case in 2021-22 when rates were still low and this odd rush seem to set into people stuck in cities, looking to move somewhere nicer and assuming work from home was permanent. People put offers over listing price just to make sure they got the house. Crazy and eventually they may take a bath financially because of it. The only thing saving them currently is if they locked in very low rates (a key difference between now and 2008 when ARM was common).
It will fall farther than that.
Need to drop another 80%
Won’t drop 80%. But 20-30% declines are certainly possible in many markets.
Give it time my friend
Why wouldn’t Florida drop 80 percent when many area are driven completely by speculation and values are 100-500 percent higher vs 2021?
The last bubble, the one that was much smaller with less fraud and much less speculation driven by shady money, you have 50 percent average but as high as 75 percent off.
Paychecks need to start disappearing. We could possibly return to unemployment rates similar to what they were during the pandemic. That's part of a normal business cycle.
The dollar needs to appreciate 80%
People will have to accept reality that we won't ever return to 3%. If sellers must sell,home prices will have to decline, and lower evaluations will follow. I now look towards the stock market to fuel my millionaire goal. Sure I'm not alone in my chain of thoughts.
U.S. stocks have historically been the best investment. Much safer than real estate. Treat it like real estate, don't panic sell and impulse buy.
I like both. But in my experience, most of the millionaires that I know have gained theirwealth through diversified investments and they all had a sort of advisor helping out with informed decisions.
Agreed, advisors are ideal reps for investing jobs, and straight up! that's how I’ve stayedafloat for 5 years now, accruing over $1m in return on investment, after 100s of thousands invested. IMO, home prices will need to fall at least 40% before the market normalizes.
@@everceen real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed !!who is your advisor please, if you dont mind me asking? in dire need of portfolio restructuring
She goes by ‘’Katherine Nance Dietz’’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Not enough drop. Economy is in trouble.. I am waiting for the corporations to sell at the lowest price.
I wouldn’t even give them $50k on the uninsurable house in FL.
That's what it's gonna come down to again soon. Especially with one too many hurricanes hitting florida and the gulf states. Another one is brewing in the gulf as we speak.
true... wonder if the house is still standing
Rich people can pay cash for those houses, from New England or Chicago. If it's been damaged by a storm, they can have them knocked down, and have a new storm proof one built in its place, like one that's built in stilts. They don't have to buy insurance if they don't have a mortgage. None of those people care about what you can afford...
Lots of people backing away from Florida right now due to insurance .
I don’t blame you.
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America .
As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.
Yes! I'm celebrating £32K stock portfolio today...
Started this journey with £3K.... I've invested no time and also with the right terms, now I have time for my family an…
when someone is straight forward and good at what she does best. People will always speak for them. For me I can would say give Mrs Jenna Brooklyn of finance education a try and you be happy you did
Started with 5,000$ and Withdrew profits
89,000$
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Can I start with as low as $1,000?
I often wonder how top level investors are able to become millionaires by investing. Just made a home sale and I’ve been sitting on about $545K equity, not sure where to go from here. Is it a good time to buy into stocks or do I stay 100% cash?
the stock market this year is at an all time high and a good number of folks raking in huge 6 figure gains, tho such strategies are most times successfully executed by folks with in-depth market knowledge
Very true, despite having no prior investing knowledge, I got fully invested before the pandemic and pulled in a profit of approximately $150k that same year. In reality, all I was doing was getting professional advice. As of today, I'm only 10% shy of a million dollar pfl
@@albertzalez32 truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor... mind sharing info of this person guiding you please?
Katherine Nance Dietz is the advisor I use. Just google the name. You’d find necessary details to work with and set up an appointment
thankfully googled Katherine Nance Dietz and was able to schedule a call session with her, she seems very professional from her resumé with over two decades of experience..
the first house went in price +49.8%, then dropped -8%. The guy gets excited over the minuscule decrease relative to the increase... this is laughable...
Are you a troll or just ignorant to how the housing market works? I’ll explain it to you if you want to learn.
Still way over price by 200% has to drop more
What used to be 250k
Now selling for 750 k.
I live in Texas. My neighbor pays $12,500.00 a year just in property tax. Being a 100% Disabled Vet in Texas I'm exempt from property tax.
Most people I know in New York, pay more then that,and there not great neiborhoods
Thank you for your service!
Your neighbor also pays no state income tax either
That's criminal.,I pay 1700.00 in ca.but i have been in the same shack for 24 years.
@@MikeDeacon76 Hell...$12,000.00 he's paying. It's just called property tax. I'm not paying either. Now thank me for my service. :)
Our congress has no idea how we Americans are feeling, we individuals are fed up with this treasonous administration. I feel pity for our country. A lot of people are suffering to survive! In this current terrifying state of our economic operation, anyone who is not to secure both now and the future is him/herself more harm than good. Imagine investing $2000 and receiving $6,500 in 5 days
That is true my dear, Investment is the best idea presently and without it, human struggles are worthless.
How does this trading /investing stuff work? I'm really interested but I just don't know how to go about it. I heard people really make it huge trading
I will love to be more informed about trading and as well start monitoring my investment and making profit.
Same here, My portfolio has been going down the drain while I try trading,I just don't know what I do wrong
I agreed; there are strategies for achieving solid gains regardless of economic or market conditions presently. However, these strategies are typically executed by experienced investment experts. And for the record and personal experience, Ornstein Lindsey has being an amazing fiduciary for I and my family!
Good, MAYBE the prices will come back down so poor people can be homeowners. Keep up the great work, my man!
Florida HOA and insurance nightmare , Texas property taxes are insane . And the weather is another disaster like in states like Arizona and no matter where you look the prices are still way overinflated
Property taxes are very affordable to me in TX, because I would be paying more money in income tax in many states where I would be able to find work. TX and FL don't have an income tax. That's why property taxes are higher in those places. Honestly, some people, just like to complain. Why do people think they don't have to pay? My parents could get twenty times more for their current house than what they had paid for their first one in the 1970s. Try telling them that, "prices are still way overinflated", after having paid 23% on their mortgage, for a bit. 1. House prices go up in the long term. 2. Insurance rates go up in the long term. 3. Property taxes go up in the long term. People who can't afford increases in insurance and property taxes, shouldn't even own homes. They're in over their heads, and should go back to renting, so the landlord can increase rents with the market, to cover their own property taxes and insurance.
@@dan-qe1tb Nevada has no income tax because of gambling revenue and property taxes are quite low where Texas has the 3rd highest in the nation . And in Nevada they are only allowed to raise your property taxes 3% a year . I was looking to Texas but for me Nevada gives a lot more bang for the buck .. But to each their own.
Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade Disruptions.
Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.
I agree. Based on personal experience working with an investment advisor, I currently have $1m in a well-diversified portfolio that has experienced exponential growth. It's not only about having money to invest in stocks, but you also need to be knowledgeable, persistent, and have strong hands to back it up.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Sonia Nunes Demelo" for years and highly recommend her. See if she meets your criteria.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Coincidentally those are all the states were most. Californians decided to move to. Now They are making their way back.
🎉🎉
Bring back Sears Kit homes! DIY!
Austin is still too expensive... needs 30% cut at minimum
Asking price is way too high, interest rates are going back up , most went down, then up .50 points .. and markets are flooded in major cities…
Yeah, I can imagine the real estate market in Florida today.
Hey,no water bill.
A lot of those houses ain't even worth that much.
None of those houses are worth that much.
A 40% inventory spike across the South is huge for the housing market. It seems like a big shift, and I wonder if this will finally cool down some of those skyrocketing home prices.
With so much more inventory, buyers might have more negotiating power, especially since they’ll have more options to choose from. It could lead to price reductions or at least stabilize prices in the region.
This spike in inventory could also impact sellers. They might have to be more competitive with their pricing and presentation if they want to attract buyers in a more crowded market.
I wonder if this inventory increase is due to new construction projects being completed or if more people are just deciding to sell their homes now, possibly due to economic uncertainty or rising interest rates.
For anyone thinking about buying a home, this could be a great opportunity. Working with a real estate advisor during a time like this is key-they can help navigate the market and find the best deals with so much inventory available.
It’ll be interesting to see how long this inventory spike lasts and what it does to the housing market in the South. It might be a good time to talk to a financial advisor, too, to see how this market shift could fit into long-term investment or property plans.
They are 2 to 3 times overpriced.... let it fall.
Money doesn’t grow overnight, but with the right investments, it can grow exponentially over time.
Time in the market is one of the biggest factors in growing wealth through investments.
Thanks to my financial adviser, I’ve experienced the benefits of being in the market long enough to see substantial growth.
Please educate me. I've come across this name before. Now I am interested. How can I reach her?
Nicole Anastasia Plumlee can't divulge much. Most likely, the internet should have her basic info, you can research if you like..
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Stockton, California is one of the worst places in the United States
As a Los Angeles resident I agree.
Stockton...Avoid!
My g-son overnighted at a 4-star hotel on way to his new job as a mech for Alaska Air in Seattle.
While resting peacefully his P/U & trailer full of tools was stolen.
odd he even chose to be near there as someone familiar with California, it would be dumb to be there.@@stekoo664
There is a reason Stockton is considered the armpit of California.
Wouldn't that be Oakland? Even 11 YEARS ago, it was pretty bad and crime was so high that my late uncle warned me to NEVER get off at any stop in Oakland on the BART train.
Where I am at in Georgia, this is NOT the case. Homes are sold before they even get finished. Homes on my street sell in 2 weeks or less. Yes, even now.
Hurricane is the final nail in the coffin. When I retire I would rent a nice furnished house in FL for three months for 5K/month. Would never buy in FL. And most northerners agree with me.
I agree. If house prices drop 50 percent and you could get in for 200k I’d pay cash and buy one. As of now it makes no sense to buy.
Totally agree. Have decided to stay north in retirement and just "visit" the palm trees a couple of times in the winter. Aruba and the Caribbean though. Better winter weather and cheaper than FL.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone 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.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Stacy Lynn Staples is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
Can you please do a video on how to access the foreclosure market and how to buy foreclosures?
Nick doens’t actually own any real estate. But your in luck. I have purchased several foreclosures myself. The easiest way to buy them is to check with your local tax accessor’s office and ask them when the next tax lien auction will be held. Most cities have at least 8 auctions per year and most of them are held online. Some cities hold auctions on the courthouse steps. Just google your tax assessor and then give them a call.
125k price cut and it’s still over priced. Also not seeing an influx in homes in TN, I look regularly on Zillow.
Tennessee has had a huge influx of homes the last 3-6 months. Where you looking?
@@ReventureConsulting chat/Knox areas. But looking for places with some acreage. I’m sure there’s tons of tiny outdated city homes with no yard no garage that are way overpriced still.
this is not going to end well
THANKS FOR THE INFO NICK! EVEN MY CAT LIKES YOUR VOICE...
Very interesting. They spoiled us with 3% interest rates so houses will have to drop by 50% to make it affordable at 6%. As we know most buyers are more concerned with monthly payment than price of home
Most buyers are actually concerned with price. Consistent feedback in every poll I do on IG/YT.
Median wages are also up from when we first got those 3% rates, so the price floor is a bit higher. Still room to drop but without economic distress we will never see prices normalized to pre-covid.
@@ReventureConsultingPerhaps that's what people have been saying after the mortgage rates doubled, yet it seems likely to me that the bottom line is monthly payment. Hell, if mortgage rates were lowered to 2% effective immediately, I might buy a house today.
@@misterringerwages have nothing to do with home prices.
@@l.j.r.8448 Respectfully disagree. Massive oversupply can negate it, but in a balanced or seller's market, wages absolutely affect price.
Even if it flips to a buyer's market, The people waiting on the sidelines are going to start buying when the home they want hits the price point they can afford. It still slows price decline.
Values might drop for homes but people aren't buying ( it largely depends on whose moving and where.) .. wonder what that will look like down the road even with rate cuts.
Meanwhile in Georgia the new 65 home subdivision next to me is almost sold out. Pulte homes starting in the 500’s.
Only the rich are playing this game all over the world. The normal people have given up.
@@prashanthb6521 With all due respect. These are families moving in next door. None of them appear to be rich although I did see a few Teslas in the neighborhood.
A typical house, in a halfway decent neighborhood in Socal (LA) is much closer to a million .it's insane-but Chinese investment is no joke...
Florida have big pile up now, all houses flooded and trashed up !
No they all aren't
@@MikeDeacon76 Don't buy a house on a coast, chances are it was flooded and mold just patched up...
@@MikeDeacon76Central Florida is reasonably safe.
@@MB031 lived in FL for many years. Yes, there are low lying areas but between stricter building codes since Andrew in the 90s and the places that aren't in a flood zone, fewer houses than you think flood. I have plenty of friends in the Tampa/St. Pete area who didn't get flooded through Milton.
@@MikeDeacon76 Whole Florida is a giant sand bar, it will sink more and more after every hurricane.The coast is most vulnerable, so keep building on a sand bar...lol
I think there's also a disconnect between the size and type of housing buyers would like to purchase and what's available. A lot of buyers want smaller houses with just 1-2 bedrooms, but there's low inventory in the areas they're looking.
We are in a similar period as we were in late 2007
home inventory in FLA is through the roof right now (along with insurance rates) relative to a couple years ago.
Helene and Milton will absolutely cause an even worse increase in listings across the south. All those states mentioned at 1:03 will definitely see insurance premiums go up.
I'v seen the home building going on in Port St Lucie and it looks like the city is in a race to get the top of your over-inventory list.
500k home in south Florida has 2.2 mil rate in taxes over 10,000 a year plus crazy insurance around $1000 a month
We sold our home in Tampa in April. Its gone down since and after Milton one of the massive curb appeal Oak trees went down.
The Texas home is massively overpriced. If the price drops to 300 000$, it's worth talking about. Not that I'd buy it for that, but that's a point where serious negotiations can start.
Thanks for the comment.
The average price of a home is still 50-60% overpriced, they need to come down by 30-40% of what they are asking for the market to be in a fair value. If there are people who overpaid, it does not mean someone else will come and pick up your mistake. If you made the mistake of overpaying, you own that mistake.
Imagine how many houses are gonna be on market in florida after 2 Hurricanes … tons of people have little or no insurance.. and taxes and insurance have skyrocketed… tons of people will walk away like in 2007-2008 .. and will rent for 5-7 years and then buy again somewhere else
If they had a mortgage, they were required to be fully insured.
Inventory is spiking in San Diego but prices are still nuts. Also 30yr fixed rate is up to 6.34 this week from 6.12 last week 😳🤯
I'm seeing homes still on the market since spring. Its getting bad for these seller's.
Here in the Northeast anything that isn't wildly overpriced is gone in DAYS.
I live in mira mesa, suburbs of San diego. 3/2 track homes made in the 80s are selling for 900k. It's unbelievable. FOMO is still going strong here.
Thanks for the comment.
Unaffordable housing storm surge
The upped ante on odds of hurricane damage and/or the stress of evacuation is going to hurt the Florida market. Add in the inflated insurance prices (and likely default of insurance companies due to back-to-back hurricanes) and property taxes, it looks like Mother Nature is acting as Equalizer to draw prices lower than pre-pandemic levels. For Florida, Asheville, NC and other places powerfully impacted, prices will go down. Who wants to take the risks? And the once comforting notion that "Lightning would not strike twice in the same spot" has been undone by the odds themselves being inverted. I live in Florida. I will feel this...
south is scary , the weather just scares me to buy
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I started pretty low, though, $5000 thereabouts. The return came massive. Joey is in school doing well, telling me of new friends he's meeting in school. Thank you Susan Christy, you're a miracle.
Wow...I know her too she is a licensed broker and a FINRA agent she is popular in
US and Canada she is really amazing woman with good skills and experience.
love you Nick , the prices have to not only drop to fair market they also have to drop way below market value to compensate for skyrocketing insurance and taxes plus the higher interest for the market to level out . not to mention all the other carrying cost roofs can easily be 21k , HVAC can easily be 12-15k people today don't have the disposable income when the other cost is factored in . salaries have not gone up while car payments, car insurance, groceries has gone thru the roof
WA also see significantly increase inventories and price cut down. The job market here is running down - the lays off hurricane
Realtors: "The only reason there are so many homes for sale is because demand is super high. You can't possibly expect prices to fall with all this demand"
Demand?
Nick you track the south the most. Especially Florida. What about the east coast? Can you track that and what could potentially bring the prices down in the east coast or where markets have low inventory.
I’ve been watching your videos for four years and you have said the same thing for four years. I hope some day you are correct my friend. It makes me sad that people can’t afford a home.
Can you please do a video on the greater Seattle, WA area? Is the price coming down soon? Thank you very much!
They're heading back to cost of materials.
How I’d love to buy in San Diego area but it’s still too expensive. It has always been in comparison to where I live now. 😢
How about a deep dive into work from home culture. The markets that will lose work from home people and the markets that will gain people
Good question.
@@ReventureConsulting thanks nick you saved me 75k (and counting) in negative equity….. best financial decision ever to walk away from the “dream home”
All the best from eastern TN
I'm looking a north florida. Why have I seen over 2 years after many hurricanes, the prices are not falling. Even when property is literally under water ?
Things are being held together until the election is over. The the dam will break
Why, it's almost as if corporate investors bought way over actual market value and now the bubble is bursting.🤔
the market is trying to correct itself and the artificial forces that keep these prices high are being shown bare. Housing should be cheap and plentiful according to the laws and workings of capitalism but its not because its rigged to keep it high
This is not true for South Carolina! Come to the Tri County area of the Low country. You must put your name on a waiting list for new construction. Homes for resale you better be first and pay full price or it's gone....
The rent is too damn high!
What’s sad is that even this increase supply hasn’t brought home prices down enough to make them affordable to young people who would like to start a family.
I’m a new dad, I moved closer to Santa Clara a few years ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
this is all new to me, where do I find a fiduciary, can you recommend any?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘ Monica Mary Strigle ‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Two houses (1 million plus) were sold in 2 days in my neighborhood this week in Orange county. So far, I don’t see ANY price decrease
In California, people are too rich. You won't see a crash unless the unemployment rate is skyrocket high.
Baby boomers control the property here. When they retire, most of them won’t sell.
Please do a deep dive on Utah! We have some of the highest prices in the US, but Reventure seems to be showing some signs of decline coming.
Wllehats the end game with all the housing issues. Yall say there is a shortage but there is millions amd millions of empty homes and apartments. I call bull.
Investor homes sitting empty soon to hit the market when home price fall as unsold home inventory reaches around 9%
Thank you for the work you do. Not sure it gets said enough. Appreciate the insights!
Do you guys (who are profitable) have strategies that are very specific in terms of entry and risk-management or do you mainly just stick to gut instinct and cut trades short when they start breaching certain pivots? I was looking online and came across this fascinating investor who turned $10k into nearly $158,000 within 3 months. Meanwhile, I'm down over 17k, done every thing I could...changed my strategy, the timing and I still simply can’t make any gains. I've lost on almost everything I ever bought and I feel like shit :(
Buy high sell low. Or something like that lol.
time in the market and your contributions are far more important.. also diversify the hell out of your portfolio (at least 5-7 different asset classes).
Best thing is to carry out extensive research and be on top of current events. Know how current events can alter share prices and apply logic over your emotions. This is what worked for me. Best of luck
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
I've tried investing in the stock market several times but always got discouraged by fluctuations of stock value. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.!!
Get your facts straight. 30 year mortgages have gone UP, since the Fed cut the Fed Funds rate, by 50 basis points. Look it up!
True they have bounced a little from the bottom a few weeks ago.
I know people that live in dumpy little hovels in LA that have been appraised lately for 800-900K. Crazy!
When minimum wage is $20/hour and gas prices are $2 above the national average it's not a surprise
Typical CA home $800,000 ?
Thought that's probably around same as Sydney, Australia, but a quick check sees the average home price there of $1,627,625 !
And ok, here in a more minor state of South Australia, the average home price is $926,500 for houses, $508,000 for units !!
Crazy.
Glad we have been in the market a long time, built in 1985, stayed in same home for past 39 years or so, and no mortgage, bad enough all the other cost of living here, like in the US and most other western countries.
Did you check the exchange rates? One Australian$=0.67 USD…
@@GrahamCStrouse sure, the Sydney avg pricing is $1.1 m USD, still a big difference.
And your prices are about 75% too high for your app!😉
There still is a shortage of affordable housing in the south, there is a difference… Many on the sidelines still unsure if there will ever be a time for them to buy.
Problem with homes in Texas is all the Texans.
you sound like your from california 🥱
All of the south is terrible. Best to stay away from there
They say the same about you
Ok, but, home prices are thru the roof.
We are not anywhere near pre pandemic real estate prices.
75 Miles from Chicago prices are nuts.
Condos are up 5 times 2011 in some cases.
We need a 50 percent collapse now!
San Diego here. My gf has been getting notifications left and right on $20k+ price cuts everywhere. Most houses we’ve been looking at are around $600k. Still a bit high for my budget, but if the trend continues I’ll be about to afford a home in the next year or two.
Florida home values are going to plummet after this last hurricane. I drove from Orlando to Apollo beach avoiding I-4 and there are literally 1000’s of home damaged or destroyed. People I’ve helped clean up stated they were done and are leaving. The cost to live here is too high and now literally 10’s of thousands of homes are destroyed. The homes on the entire west coast are gutted from storm surge.
Inventory is, "up 40%", from when? Inventory tends to reach its peak at the same time every year. In '21, '22 and '23, peak inventory was reached around this time of the year. Real estate is very seasonal. Either he doesn't know this, or is trying to instill fear on people using misleading headlines to get people to notice the Reventure app. Of course inventory is higher than it was between 2020 and 2022. Look at what the demand was when interest rates were much lower.
Inventory in South is basically back to pre-pandemic levels. Check graph at 7:44 for long term view.
Inventory is back to normal here in Tennessee but in higher price bands that workers can't afford, something is going to have to give.