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Right now, with all the demand for housing, property developers are on a MISSION to build homes as quickly as they possibly can…but, there’s a problem: they can’t keep up with demand…because they don’t have enough materials to build from. In the last year, LUMBER PRICES have gone up a whopping 200%.
Some analysis’s are actually calling for this to be the NEXT housing crisis…but, instead of it being caused by a wave of mortgage defaults on nonperforming loans…it’s caused by a lack of lumber, increasing the COST to build a new home by an average of $24,000.
To make matters worse, constraints in supply chains make it nearly impossible to produce the amount of materials needed to keep up with demand – meaning, at least in the short term, housing could remain unusually high – and the increase cost of building winds up being passed on to you, as the customer, in the form of a higher list price.
There is also a new proposal aimed at curbing the housing shortage within the infrastructure package: The plan would look to eliminate zoning and land use policies, which include minimum lot sizes, mandatory parking requirements, and prohibitions of multifamily housing. In its place, the zoning requirements would be restructured in a way that would reflect the current housing shortage, and the NEED to build more real estate in areas which would’ve otherwise have been off limits.
I THINK easing up on zoning CAN be a good thing for cities experiencing a housing shortage, and I do think we need to update the zoning requirement to account for the present day reality that not everyone needs a car parked on site…and that would HELP. BUT, as far as how this is written, unfortunately, it might not be enough.
Since this infrastructure plan would take place over 10 years, that probably won’t give any immediate relief to the housing market. And also – BECAUSE this gives a tax incentive…wealthier cities, who have the biggest housing shortage to begin with, have very little reason to actually go for it, because THEY don’t need the money to begin with.
So, in short…from my perspective, the whole plan has some good intentions, but ultimately…it might not have as much of an impact on the housing market as expected….
AND REALLY…At the end of the day…the housing market doesn’t really appear to show any immediate signs of slowing down. Interest rates are estimated to stay low for another 2 years, it could take 18 months or longer for building materials to come down in price, and until then – there’s still a housing shortage.
Obviously, these conditions can’t last forever – and when there’s such an imbalance between the number of buyers in the market and the number of homes for sale, EVENTUALLY – the tides will change. But, until then, if you’re in the market for a home – be patient, and only purchase a property that you intend on keeping for at least 5-10 years. That way, IF the market goes down – it won’t have an immediate impact on you – because, at this point – anything can happen. Rising interest rates, more inventory, and any change in policy COULD have an effect on housing – but, in the short term, if everything stays relatively the same – housing could very well continue going up.
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if people are spending all their money on housing they will not have much discretionary income left over for vacations, toys, and whatnot.
Thank you for watching, for questions, guidance and support at any time. Just DM +1. 7.- 0.- 4.- 3. -8.- 0.- 0.- 5.- 2.- 1.- @ W H A T S A P……
How did I get unsubbed from this channel?
Where’s the Sno-Cone coffee at, Graham?
Thank you for watching, for questions, guidance and support at any time. Just DM
*+1 7 0 4 3 8 0 0 5 2 1* @ W H A T S A P P.
It is almost as if the people with homes are anticipating an economic crash and are unwilling to sell.
69 420? Dude got jokes
I not gonna lie, I’m getting annoyed by these mid video ad plugs
A sudden housing shortage. All cash buyers. Bidding wars. Where did all these mystery people come from? The housing market circus is clearly staged and manipulated.
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I’m still trying to find a house, but I’m starting to resign myself to the fact that I might just need to keep renting. I hate continuing to throw money at rent and I want to start building equity in a house so badly, but it’s so hard to justify paying so much extra for a house.
For more guidance
Escalation clauses are not being used often in Central Ohio now. People want highest and best. Escalation gives the buyer more power because the seller technically has to counter to get the escalated price. Gives the buyer a chance to back out
be the next Tyler? but I already am a Tyler
Thanks for the review
Amazing how Americans work so hard to buy a house they will never own.
T/h/a/n/k/s
W/h/a/t/s/a/p/p—– my booster expert Angel Nicole
+/1/2/0/9/9/9/2/3/1/1/4
I/n/v/e/s/t/ In B/t/c & E/t/h]
❤❤.
“What’s up Graham, it’s Guys here” lmao
Most of these Californian’s that everyone is blaming for the price hikes to real estate are not even Californians. They are people that went to California, made money, and are now returning to their home state to buy a home. Native Californians are staying put.
so sell my house and buy a bunch of lumber ?
Text Exp What’s=app:)
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It’s not that complicated.
The govt gave trillions of our $ to private equity corporations and called it “stimulus”
These companies were then able to buy up tons of real estate which they then rent back to us.
Thanks for making the same video for the 20th time!
I’m in the market for a home in texas but every house is up 20k so we are in apartment for a year and we have to wait. But I’m still looking and damn is it hard
This seems unrelated but have you considered doing a personal finance video on health insurance for self employed people? One thing I keep hearing from investors/entrepreneurs is how expensive health insurance can be if you’re technically unemployed and it’s made me hesitant to quit jobs/change to a freelance type of work. Any info on how you handle it would be much appreciated.
zoning laws are stupid half the time.
Real Estate investors are the ones buying up houses just to put them our for rent and limiting inventory. That’s the real problem. Very few average Americans have enough cash on hand to buy out a home.
Whats up Graham its Guys here…? lol
@Graham Stephan huh?
Hey Graham what happens if I completely ignore my HOA fees? If I own my house out right and I just don’t want to participate in the HOA. Can they do anything to me? Or can I be let out of the HOA as a exception?
“what’s up graham, its guys here” LMAO
Would have liked being allowed to builf less that 1200sqft single family home
A perfect example of why the government should ban private landlords, ban people from owning seconds homes, and ban people from “flipping homes.” First-time local home buyers shouldn’t have to compete with landlords and the wealthy out of staters and be forced to offer 50k over asking to even be considered. I’m really tired of the greed.
“What up Graham, it’s guys here.” – Did I miss the video where this is an ongoing joke? He says this often anymore.
“What’s up Graham, it’s guys here…” lol
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To whoever is reading this… Keep grinding and the thousands of hours of hard work will eventually pay off!!
Lol! Then all those yuppies can continue working another thousands of hours to pay for their bloated mortgages.
Time to get creative with housing and look into building your own places like a geodesic dome or earth house.
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@Graham Stephan go away scammer
Happy birthday! I’ve been watching your videos for the last two years and realized only recently we have bday on the same date 🙂 again all the best and keep doing such a great content!
How is the coffee business coming along?
Automate is truly the safest platform you can invest your funds.I must commend the platform, they are always consistent with withdrawals and their payments are automated always making me happy💯
The bubble is going to burst, soon.
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The simple and correct answer is inflation
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Instruction unclear, bought a tesla by accident.
Hit me up privately for further guidance on earning
The parking is important tho
Thanks for the review +1<<2<<0<<1<<4<<6<<4<<0<<9<<2<<6 my<
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For more guidance and support
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So is that dog a tax write off now?
with all the dollar printing going on and amount of dollars in circulation doubling in last few months, it’d be reasonable to think house prices may double (in dollar amounts) by year end. If that is the case then buying now is reasonable even with price increases.
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Zoning is not the solution to this. There are already enough homes. Problem is, they’re owned by investment firms who are over leveraged.
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Clickbait. Disliked
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“If you’re in the market to buy a home right now”….
I’m out. I’m not overpaying for anyone’s bullshit house. Just going keep renting way under my target price and saving until the next economic collapse
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move to buffalo
More evidence cars are ruining society
Hard to take someone seriously when they talk through their dog
Assistance further;
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@graham stephan well ok
Homes are booming in florida. All these people that hated their liberal government are moving to Florida and can be free again. Just remember why you left
You know it’s a scam when they give you free stock.
I don’t think so. The EPA and government incentives on reducing admissions effecting climate change negatively help bolster things like 3D printed houses and other technologies that make housing expensive. Luxury – gets thrown around like tater tots in a school food fight and this idea that everyone must buy a home, it makes the market less lucrative and honest unless you are betting on scamming people. A ply-board constructed house is not safe but you are going to make at least $235,000 on a house built entirely on a $20-$30,000 budget, it makes sence especially if the money you are spending is from a PPP loan anyway. Basically the housing marked is CRAP, too many real estate sellers and not enough buyers.
Come to Albany, NY the prices never go up
Um, I don’t want a bunch of new apartment complexes with no parking…
Everyones selling their house in San Francisco and paying cash in small towns…
What’s up gram it’s guys here 😂
The bubble will burst.
Just bought my home with the help of an ‘escalation clause’. Ended up paying $4,000 less than my maximum bid would’ve normally been!
Also wrote a letter stating why I wanted to move my family into the home and the neighborhood. I think this combination got our offer accepted.
As a builder, I think the housing market is great! Materials inflation is no joke though.
The number of people in the comments “waiting for the crash to buy” means there will no crash or will be like the 2020 stock market crash where the stocks got bought up like tacos when they crashed and we reached all time highs in months
The Biden plan isn’t about affordable housing, it’s about attacking political enemies
Don’t buy a house buy a commercial property and move into it. Much bigger, better location, more uses, way way cheaper. Especially good ones have live in residence areas.
“What’s up Graham, it’s Guys here!”
So what do you do if there’s multiple offers where there’s multiple escalation clauses??
Omg…I LOVE puppy Bailey…so adorable 😍
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If you don’t have a car you don’t need a house
Graham’s ad transitions getting better every video, so smooooooth
2008 will soon repeat itself…
What happened to bricks?
Thanks for telling me lumber prices are up I will now proceed to buy lumber stocks
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The market will correct.
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Let them bid. Let them war.
Their victories will turn to ashes when the INEVITABLE correction occurs.
Thanks for watching and comments, We’re always available for questions, guidance and support at any time . Just DM
*+1 8 3 2 4 2 0 0 4 8 7* @ W H A T S A P P…
Biden plan for changing zoning is a terrible idea. We are constantly fighting developers wanting to tear down historic homes to cram several town houses on the same lot. This is destroying neighborhoods. Also if off site parking is not required for new construction the streets will be filled with parked cars; this makes traveling those congested streets difficult and dangerous.
Thanks for commenting, I will refer
you to my trades analyst and
accountant to make good income, go
more on digital assetO/k/a/y
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Don’t sell you won’t be able to buy another house right now..lol.
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Thank you for making videos
LOL baileys super cute, THREE DAYS!! what a good puppers. 69420 likes xD pas that a while ago, I hope she got those TREATS 6x over lol with the likes now ahah, we need someone to follow up and make sure Bailey deal was met!!
Is this a good time to rent for short term for somebody who is young with no family?
Like the intro
Good video.
Hey Graham, would you do a research on Petronpay? let your people know if it is a scam or not. thanks
Austins complaining about Texans moving there and buying houses, something we Torontonians have been dealing with forever from everyone across the globe. you born in Toronto but buy your first house outside of Toronto, and only if you choose, your second house would be back in Toronto, if cards are played right.
Raw materials are crazy high right now. I run a fire sprinkler company and steel pipe is up 315% since 12 months ago. CRAZY!!
great insight to the trickle down effects of a housing market like we are seeing now Graham!!
“Whats up Graham it’s Guys here” LOL
Started house hunting in the Lancaster Pa area and its horrible. Forget about contingencies if you want a house. Offer we put in on a house was passed over for a lower money amount and no contingencies include no septic tank inspection. Another house we liked went for 25k over asking with no contingencies. Already thinking about renting for another year.
We live in CA. It is fricken crazy here in Nor Cal. $70k above asking on a $500-$600k home is normal now. Wtf.
Whats up Graham, its guys here! LOL!
The realtors always tell the buyers offering from $20k-$50k. Ridiculous. They think the interest rate is low now but they don’t think they pay more with high prices. The market will crash soon
Thank you for watching, for questions, guidance and support at any time. Just DM + 1. 8.- 4.- 3.- 3.- 2.- 1.- 8.- 4.- 6.- 3.- @ W H A T S A P…,,,
so good or bad time to get into real estate realtor?
Minimum parking requirements have got to go. These regulations are killing cities and businesses.
My parents area is now $800,000 asking price. People are paying millions near a small city in Canada. It’s insane. A cheap house here is $350,000 and you have to move way far out.
First time buyers are being left in the dark by people paying cash up front.
Whats up dyslexia 😂 🤣
We bought our home right before the pandemic hit.. now we rich
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IT IS A TERRIBLE TIME TO BUY REAL ESTATE.
Thankfully my aunt has a rental property that she’s wanting to sell due to the fact that she is no longer able to manage the property I was first in line. Offer to buy it at the appraised value of 160k she wants to sell it to me for 140k owner finace… in the dallas fortworth area…even though she has got cash offers for over 200k. Thank god i got family whose blood is thicker than water.
Thanks for your comment 🙂
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Your thumbnails are so cringey that I can barely watch your videos.
It was just listed too low….obviously
what kind of watch is that
Here in Australia the markets are crazy as well. But we are cramming a second house in the garden. This seems a great investment as they can be rented out at mad prices. This mad market won’t last and many people that invested in rentals are going to be down big time. Especially in these horrid little houses with dam all outside space. Sold our house as we were moving and now renting. If when our son has left school and the house prices are still mad we will move to a place where prices as sensible, which ever country that is.
One of the most notable things you said was buyers are paying whatever it takes to get into a house. Desperate people don’t make good deals. I saved cash and found an awesome deal for 30k at a city auction. It was taken for taxes owed. Back in the late nineties you could get a more than decent house for 100k in St. Louis. My friends got theirs for 60k because they bought from a divorcing couple who cared more about getting out than the money. Look around. Dig deep. There are deals out there.
Haha, I literally pushed the like bottom just because of poppy 😂 Didn’t take you for a dog person 😃
Must be that New World Order and its wannabe groups buying up these residential homes if mortgage applications are dropping in the meantime!
Thanks for the review +1<<2<<0<<1<<4<<6<<4<<0<<9<<2<<6 my<
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Hit me up for further assistance on earning
It seems to me that there is something going on here. So those who took out student loans, now graduate and are in their late 20’s early 30’s looking to buy their first home and here we go with the market. What are we doing to this younger generation? Our Country is in free-fall. Are we trying to keep people as slaves? That is essentially what is happening. Student loan debt and just to find a home to sleep in before going back to your second or third job to pay your student loans. I worry for these younger folks.