Real estate mogul and star of ‘Shark Tank,’ Barbara Corcoran discusses the coronavirus and how the real estate market has been impacted. She also talks about how real estate could experience a strong come back after the COVID-19 pandemic is over.
#BarbaraCorcoran #coronavirus #realestate
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Unemployment is not going down anytime soon
jerry wayne don’t make the same mistake as the morons here stressing over here and now learn how to look ahead
There won’t be a commercially available vaccine for 12-18 months. The Fed said that unemployment could reach 32%, which is fair when you consider that a lot of jobs just can’t be done from home. OP is completely correct
Owen Brady and it will go up about 20% right after airlines,hotels,cruises,restaurants how can you not see these industries will open back up
Pablo Linazi …stay broke?? What makes you assume I’m broke? Mr “I’ve been investing in real estate for a decade” 🤣🤣🤣 what a douche… you do know the last decade has been a bull market!? Right? Literally a caveman could’ve made money the last decade doing nothing so News flash everyone made money the last decade pal. Your pride and ego are blinding you from seeing the cycle. So again good luck.
@Owen Brady what idiot is going to take that vaccine??
Rich ppl selling there million dollar mansions in the cities and buying rural homes away from Rona
Did you even think about your comment? If a rich person sells their home it’s going to be another rich person. I can’t buy a $10 million dollar home even if it were 90% discounted. So rich person leaves and another comes in. So rich people are not fleeing.
*Real Estate is headed into uncharted territories with everything going on right now. We’ll see if the government stimulus, delay of kicking homeowners out and loans helps.* 🤔
@Stephen Santiago Yes, and all these banks plastering their websites with this “We’re here for you” crap really need to be honest with the public about what to expect with a forbearance. I think it’s being put out there like the payments don’t have to be made, and that isn’t the case
@Michael Ballard I got a “we’re here to help” email. Im going to respond to it and say “awesome, y’all know my checking account number, go ahead and send me a couple bucks” 😁.
@Stephen Santiago I literally did LOL when I read that. The last “we’re here to help” email I got immediately preceded another email reminding me that my payment is due
@Stephen Santiago Now thats sad, i dont think people looking at it like that.
@Mia’s Ministry we should have never allowed private banking . what a mistake .
I have question and I hope I can get right answer from here. I’m a home owner. Just bought it November of 2019. What is the interest rate right now and can I refinance to lower my monthly payment?
And pay attention to lender fee, so that they don’t charge you arm and leg either. Trust me, I’ve seen some mortgage brokers do that, sucking the equity of your house to their own pockets 😖
Tam Doan Thanks for your info.
Bro bro bro. Do not refinance so soon. Look at the cost to do it. It’s not worth it.
doomtomb3 FYI, nowadays there are lenders that charge $0 lender fee, so basically you just gotta pay appraisal and title & escrow. 👍🏻
Yes refinance!! We just got a whole percent lower but that’s when it was the lowest and we got locked in.. go figure a week later we wouldn’t have lucked out as much s
Only few people buying 4m dollar dog houses in NY ….. ooo lalala
She is a shark … if unemployment is low and my father is my mother and she becomes sexy then buffoons can go back to buying million dollars dog houses in NY and SF …… yyyyyyaaaahhhhhoooooooooooooooossssssss
Folks, if you have the blues, feel depressed and are thinking about jumping off the garden patio, just listen to some real estate wheelers and dealers. There is a Mexican sun blazing at the end of every train tunnel with massive mariachi band, all you can drink booze fountain. Strap your helmet. Things are just about to soar.
Nobody talks about taxes. Cities and towns are bankrupt with significantly reduced tax revenues for the yr. They will need to compensate by increasing taxes for everyone.
Yep, I do not understand how people don’t realize this?? and where do they think all this magic stimulus money is going to come from, it’s all debt, we’re going to be paying it off for the next few decades.
I’m actually in the process of buying a home in Louisville. About a month ago. A month ago I had a rate of estimate for 3.25% but now just got it at 4.15%! Got another lender for 3.875 but I hear there is a mortgage service crisis going on. Investors are backing off from buying mortgage backed securities (basically buying off your loan), and I think this is causing the rates to go up. With rates going up, this is probably going to cause prices to go down along with unemployment increasing, unless something changes. Look up margins and real estate
Eric Vavrinyuk wait till October better apr and price will go down
Born and raised in NYC don’t care if the housing goes to hell. Greed greed.
Born in Ethiopia, raised in Seattle. If prices go down, my family can buy property
Same in London exactly how I feel
It’s all screwed. We don’t need to be market movers to figure this out.
I’ve been watching all kinds of predictions from it’s gonna be the biggest crash ever, to real estate will bounce right back and go up. Imho, it’s going down. Even when everyone can go back to work, so many people will be behind on bills and may not have a job. Many small businesses will probably fail from the hit, as they are struggling week to week. Even with loans available, it’ll just be a headache applying and dealing with it all and having to pay it back. Mortgage loans will have strict requirements for approval, so less buyers, more foreclosures and short sales. I learned from 2008, I’m sitting back and watching, waiting.
Factz
Maybe I can afford to get a house now… oh wait I’m Canadian… immigrants get first dibs, I forgot. Sorry eh
This corona virus is going to bring, real estate prices, way down? 😁 look 👀 at gas ⛽ prices, dropping?
Corona has nothing to do with gas prices right now..it’s Saudia Arabia and Russia trying to dominate the oil industry.
All this was predicted last year? That real estate prices were going down? 2020.
There is nothing sexy about this lady.
Nate How about you?Is your boyfriend still away?
@crni crni boyfriend? Find any other 71 year olds to evaluate from a sexual perspective?
Nate Why then a question about getting laid
The woman in the video talked about something being sexy ,hence the comment I made…
Hahahha true
you are so right . I would say she is almost repulsive .
I have so much respect for Barbara Corcoran, and now I think she doesn’t know what she is talking about.
Housing prices will crash severely, *unless* mortgagees will rescind the “due on sale” clause, so that buyers can take title subject to existing debt.
There were no “due on sale” clauses 60 years ago in the housing market, and the market ran just fine at “double digit” interest rates with fully assumable, non-recourse loans.
Now, the entire banking system is *entirely* dependent on originating new loans and selling it off on the secondary market, instead of allowing the next buyer to take over the existing debt.
UltimateBargains Well said..
Ignore the pile of bodies over there and come catch this falling knife.
Like!
how are are people not seeing this – feels like Im watching a movie
Barbara seems to be talking out of both sides of her mouth…..WTF?
I think that Trump after the election will do a government shutdown & help the whole country except the democrat New York state. New York real estate will lose most its value. New York will be a ghost town
funny since Trumps income as reported in Forbes 2019 article says 86% comes from NYC buildings
The rich are living underground maybe selling underground real estate
Take your meds.
The bunker market is red hot 😂
If states are on lock down, why are builder real estate agents still sitting in models coming in contact with people from different hot spots? Not fair.
She doesn’t talking about price coming down but she keep saying lowering interest rate.
Intrest rate may change but if you pay higher price with lower interest rate right now that’s mean you are screwed
Interesting perspective by Mrs. Corcoran!
Hand washing.
Social distancing.
24/7 shelter in place.
Mask
Gloves.
Let’s get through this; so, we can get back to normal.
Barbara is correct…people use virtual tours to weed out homes they want to see in person and those homes they care not to see. You’re going to drop $450,000.00 on a home you never walked through? Come on
Everything will collapse fool.
Barbara has been around far too long to not know better — When FED chairman Powell predicts 30% unemployment — the economy crashed to a halt — Goldman is expecting massive declines in GDP — Corporations are no longer offering guidance — talk of bailouts across the board — real estate in general grossly overpriced due to a decade of artificially low rates or 0% rates — We are on the cusp of what might be a very long DEPRESSION — The luxury market isnt moving because thats the smart money who sees the writing on the walls — its the dumb millennial who is being lured in with ridiculously low mortgage rates — people who have read about recessions but never actually lived thru one — much less a depression
Talking her book
That when the mídia try to brainwash you to believe and invest money to loose while they profit from you!
Hmmmm…..Don’t opportunity come in times like this, especially if you can get in close to the bottom?
damn good point
Why can’t anyone spell “lose” anymore?
Have a friend sells for Barbara, just lowered 8 million dollar house a mil, and put it up for rent.
The Corcoran Group is no longer owned by her, She sold it in 2001.
she talking about houses might go up ….The housing bubble was going to burst anyway …… she off on this one
lawofattractionc6 thank you. Someone else who saw that bubble. It was about to pop like 2008 again before this happened.
Oh Barbara, Barbara, Barbara. I thought you were smarter than this?
sociopath
I like how she is talking about the best case scenario as if that is attainable. Nobody knows what is going to happen, how can she discuss the best possible option. Obviously, because she has a vested interest.
30% unemployment… it’s over for us folks…
Three weeks and look at the economy. This is going to last years. You are correct.
Balloonism.
LONG TIME COMING!!!!! NO MORE ROBBING PEOPLE YOU BLOOD SUCKERS!!!!
Per the long range vision, after the virus subdues from this experience, renters saved from evictions/homelessness by government intervention I suspect will be highly motivated to buy a home as soon as possible. Yes, they would still be at the mercy of a mortgage but a mortgage is not as savaged as paying rent.
Barbara begging for helicopter money, aka inflation. “If they print enough money and make it rain, prices could go thru the roof”.
No one actually knows. The quarantine would have to end first.
That thumbnail though.
Haha I don’t get why they chose that.
Worse than the ’08 Bubble because we were caught flat-footed. The glut of foreclosures and short sales which remained after The Great Recession hadn’t even been cleared before we were thrust into the COVID-19 Era.
The Fed injected another $2.3T into the economy to shore-up the economic infrastructure. Congress is haggling over another $250B (a trifle really) to inject into, ostensibly, paycheck protections.
Imagine the people that died from the virus and stayed in their houses..
yeah right… stimulus check of $1200 is going to determine if someone is going to buy a home when they are fearful of losing their jobs. Get real!
Real Estate is going to be collateral damage when the unemployment rate soars.
I have some flying pigs for sale, I think I should get her to sell them for me.
new York real estate sales are down. wow, who would think?
Airbnbs on market already for sale.
Fed will buy everything
the coronavirus has the markets gedamaged
This woman is an idiot.
No one buying tell that to “Zac” & Barbra they reminded me of “Dumb&Dumber Movie” the mire is a deep depression here ask Boeing employees over 2 millions will be out of jobs asking bill out government help for 75 billions. A.A asking 125 billions over 20 thousand employees. Att asking 25billions. Banking will be soon crashing Bank of America and other small banking in trouble. GM already bankrupt. Chrysler suffering. Ford. Disney. Also real estate will suffer the mostly, may be Zac & Barbra still-living in twilight zone!!!! They did not watch the stock & market… between their conversations!!!
OMG. These people are vultures including yahoo finance. These people all need to be pilloried.
She said “must keep unemployment low”, uh, I think the cat is out of the bag on that one and for that reason, I’m out.
That is the most ridiculous statement I’ve heard out of that woman! Is she naive or just stupid. The unemployment is so bad, and getting worse, that we will see the beggars on the bread line before we’re done! What an idiot.
Poor CMBX
In Thailand, a nice room on Airbnb costs a monthly rate of $150. We’re doing something wrong. The housing industry in the US is focused far too much on profit.
It’s true in southern california, people are still buying these crazy priced homes that are selling with no discount.
Bring on the debt jubilee!!!
We do foreclosed property management on our channel and been seeing a huge increase in foreclosed homes lately.
They are telling me to buy discounted houses but if nobody has a job who are you going to rent to???
It is not going to matter what the government does in the short term. I think that many business will fail regardless of what Washington does. At this point I think most businesses will survive but those who were doing poorly will fail and they will take jobs with them. To make matters worse one must realize that buying a home is something that is done with the gut as well as with your brains. If your gut tells you that this is a bad time to buy then you will not buy a house at all. I do not see how one could be optimistic enough to buy a home when your employer may fail suddenly. I am sitting this one out for a bit longer. Maybe once things calm down and people are hiring again and the clutter of failed businesses has cleared then maybe. But on the good side of things, when businesses fail, others step in and pick up the slack, new ideas, new models, assets from a failed business may be bought by one of the ones that make it and they expand and in turn hire more people etc, capitalism (like life) finds a way.
I’m trying to find that youtube video where me and this real estate argued about 6months. Saying now was the best time to buy a house and that it was her career and she knew what she was saying blah blah blah. And I told her NO it’s not and now look at her. She would swallow her words if I found her channel again. Let the prices drop PEOPLE!
Don’t like Yahoo and don’t like you.
Nothing has changed. More propaganda
Everyone is going to hold on to their cash .
It’s interesting to see how leaders are dealing with Covid 19 ! Great content!
How can we buy a house here in FL if almost everybody is unemployed, companies ready to file for bankruptcy, and the houses in FL are very expense, an ogle house cost more than 200000.00 thousand dollars, the price on houses are inflated
she’s so out of touch- she doesn’t have a clue how the blue-collar workers are struggling. Job’s aren’t going to come back- not 30 million- there’s going to be a crash – the areas that are going to be hurt the most are areas outside of metro areas. people are going to run for the hills and get out of big cities. This is a SELL SIGN if you haven’t seen it- I’m telling you SELL NOW