#BarbaraCorcoran #realestatemarket #smallbusinesses
Yahoo Finance’s Zack Guzman and Aikiko Fujita spoke with Barbara Corcoran about the real estate market, housing trends, and the COVID-19 impact on small businesses.
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Hottest housing boom since *2005.* Yeah, that doesn’t sound alarming…
@Nolan Hall That is a flat out lie! Then why is it a FEDERAL judge in Florida saying to move the foreclosures forward? Sorry if you could care less about the truth! Scary for you! Who gave Biden that authority, mind you? No one! Foreclosures starting in earnest May 28th.
@Virginia Ganskie ok… keep holding out for those foreclosures cause it ain’t happening. Fannie and Freedie are kicking the can down the road indefinitely. Banks also would rather turn the private mortgages into new 40 year loans than foreclose. They don’t want to own these properties.
@Virginia Ganskie yeah we have so much inventory now from all those imaginary foreclosures in FL from that federal judge you speak of. prices should crash any day now lol
A lot people don’t understand the differences between forbearance and pre-covid delinquent mortgage and just assume that’s the same thing, which creates false assumption that forbearance = foreclosure. Keep on hoping price crush so you can buy house cheap, I do feel bad for those people.
Correction will come, heat will cool off, but not a crush like some people hope
I think many are overlooking the fact that today’s buyers actually have the cash to support the higher prices. Secondly, many are convinced we’re on the verge of a major economic recovery that is likely to result in more jobs than qualified candidates.
I’m hopeful that house prices will come down once interest rates rise by next year. It will NOT remain low forever. Barbara will always want people to buy as she is in real estate business. I would also like to see if she has a new business plan in Raleigh.
Next year way too early for a substantial rise in interest rates.
Interest rates will not drive demand down enough to pop this bubble. It’s the moratorium on supply that’s driving up prices. Until the moratorium is cut, the prices will stay high.
U wish
Scarcity and urgency are the tools of scoundrels.
Nothing like a bubble lol
Yes, everyone waive contingencies designed to protect you. And pay more highest you can.
It’s retarded. I will never waive contingencies.
I won’t waive contingencies but then I also won’t win the house if another buyer does. Seller’s market means it’s great for sellers and terrible for buyers not only wrt price but also wrt everything other aspect of the transaction.
West Virginia is still available
Nothing in Virginia
@Grune D Then do the math on WV!
Nothing in WV, no value.
@Grune D I disagree. Its quite a scenic place, from what I’ve seen.
Ok, scenic is great but what is close to it? Any financial center? Any tech areas? Anything to do ? Any big cities? What’s the major airport? I just saw some homes listed for sale, looks like a great price for amount of square footage but houses are old, look like from A Haunting tv show.
Ban corporations owning residential and house hoardering
That’s unconstitutional.
That will happen thanks to Biden
I agree. Blackrock is out bidding cash and taking out families!
isn’t that what capitalism and free markets are for, though? to buy whatever real estate they want at any price they can afford?
@Ilovecoupons yeah, but when the big boys try to monopolize government normally will jump in. 💡
We have almost 3 million homeowners at risk of foreclosure, and many of these will be foreclosed upon soon. I dropped out of the market and am waiting for the soon-to-come crash.
great advice! get into the game
I’ll pass
Why would anyone want to go back to work where they get more in stimulus money
Do not buy and be a sucker and buy high—just calm down and simple wait—first time I disagree with her. Just wait—do not listen to her this time. Don’t be a sucker.
Market isn’t going down though .. assets are America’s bread and butter … High prices = slaves have to work harder.
It’s the money printing. Existing cash gets less valuable
Problem with that strategy other than having to wait for who knows how many years is that by the time the housing prices correct, the corrected prices are still likely to be higher than prices now. Dollar is being printed into oblivion, and the oligarchs don’t want things with actual value, like houses, going to the plebs.
@joefunk76 good point
Barb is a cool, hip chick, but I always think it’s best to get educated and NOT just take any experts’ advice. Just like with anything else.
Wait……
are you telling THE BUBBLE to wait?
Freedom peace and Blessings☝🏽
House is so expensive. Husband and wife has to work to pay their mortgage meanwhile their kids nobody watching them and also their salary most of it go to mortgage, property tax, maintenance, they can not save anymore. When one of them lost their job they can not pay their mortgage. House poor and in debt !!
Yep. There are no free lunches.
Biden will give them $
That’s the American dream
bad advise. if you don’t have don’t!. THis is all a scam. over priced before the crash. then they “experts” show up with experts story
Best tip is don’t listen to this lady she sees $ signs on your forehead
I think her perspective is right on; especially, since realtors are going to try to sell as much real estate as the can; otherwise, realtors could potentially lose an income and find themselves working @ Kmart asking, “Price check on cookies!,” or worse working at some fast food restaurant listening to moronic customers and asking, “Hey, would like you fries with that?”
lol houses valued over $1m haven’t increased as much, these are mostly first home buyers with maxed out mortgages with minimal deposit.
Just wait. People think this is just like 2008…it’s not. You will wish you bought now…but it will be too late. THIS is a change in an Era. We all learned about supply and demand in school… things will correct but will still be high.. higher than now. Wait it out as everyone said there would be a crash 5 years ago… and they lost out..so will you. Say goodbye to ever owning property as investors are taking over now. Be a slave to rent and making someone else RICHER
@Mal M 1929 mentality. You’re not a “slave”to rent when it’s cheaper than a mortgage payment.
@Mal M cycles Martin Armstrong says Realestate will decline until 2030s baby boomers will become very dependent for care.
Barbara Corcoran LOLOLOL
I would definitely not recommend buying in this market. This just widens the equity gap even further, when those around that same neighborhood have to pay higher property taxes. People forget the spillover effects of overpaying for a home. It’s like employers are going to give you a a big raise out of nowhere.
So you’re saying if you are a buyer overpaying for a house, you will cause all the existing neighbors to pay more in property taxes the following year because you made the price go up for the neighborhood?
4-2021 do not buy..prices are over inflated and there is not job security. We saw this movie in 2008 do not fall for it again…………..
Roof, Foundation, and Plumbing. You have an issue with any of those you are in for a lesson. 💡
oh man, your comment hit a homerun with me. I had a very small leak last year because we have old galvanized plumbing, when i saw a dirty spot in the ceiling… it was too late. it had prob leaked for about 2 weeks before that. we did a full repipe, tore down a small section of the celing and walls. costed us roughly 7k total to fix. My insurance agent (who i trust a lot) said DONT file a claim because it was a small job and my premiem would go up, you want to call insurance when its a huge job like 70k, not 7k.
@Thomas what’s the point to have insurance and not cover! We can always change insurance company. If the pipe is fixed and replace, it is better protection and lower insurance.
Wow what a great woman.
Barbara .. straight shooting business woman .. great person.
Smash or pass?
What about the 30 million mortgage deferments? When the eviction moratorium ends, won’t there be foreclosures and inventory? If Fed raises interest rates, won’t that impact market?
No, No and No. Its going up fahevaaahhh!!!
That’s a good question, but unfortunately, I’m neither a financial advisor nor a realtor.
buying a new home now is about as smart as buying a new car. 40% loss in 2 years. wake up morons the fed has made it hard to repo a home. because of covid 19. a 300k tract home is a loser.
his favorite shark. sure buddy. you mean the only shark that would go on your show
BS. This is a bubble. Property tax and homeowners insurance will get to be so outrageous the market will not stay like this forever.
They are clueless. Millions of people are sleeping on street now. They do not have money and job to buy a house. Bank will not open account for them because they are homeless.
I really hate these financial fools who pretend to know something.
open up that check book barbara!
I thought Barb only used debit? Checks aren’t used as often as they used to be.
how do you get a house ? lol “expert” overpay for a already inflated asset 👍haha
just talk to barb. she’s an exceptional realtor.
Barbara’s awesome
How bout a big cardboard box…any bids for that. Investors are probably already on it
Oh, that’s so last year! Tiny homes are all the rage now!
Landlords selling, people taking lower paying jobs, rates will climb, and a ton of people will start selling when they get tired of 2 hour commute, evictions start June 2021 but there is no bubble 😏
The tip is simple… save cash… wait and let the market crash… buy foreclosures
Saving cash is always a good idea
@Cole Wildenhus They are literally devaluing the dollar
Not so fast unless you have enough cash to not need a bank. Holding out only means you’re rolling the dice on a bubble on top of interest rates staying low. Your odds are probably better in Vegas 😉
I wouldn’t do that without getting educated about the markets and buying foreclosures. Otherwise, a doc company may create a new tv series called, Buying foreclosures from people who thought they knew what they were doing, but unfortunately, didn’t and now, they’re at a fast food restaurant thinking, “Why on earth am I working at this fast food company while asking customers, ‘Would you like fries with that burger?”
So a lot of homes are bought by private equities and the people who are fighting for these homes are getting their loans from non bank lenders.🤔
Omg this C U Next Tuesday is the worst
She has very little idea if this is a bubble or not. Doesn’t even know last time prices went up 15% in a year. She says it’s not a bubble but doesn’t be any facts to back that up. It’s definitely overheated and may drop
After the pandemic and all the folks waiting to sell list their house. It’s just a supply shortage that can correct.
Compliments only get so far employers. They need to pay people a living wage.
Show me the money
agreed! unfortunately, sometimes just being polite and hard-working does NOT always mean you’re gonna make it up the corporate ladder. however, I would still remain polite & hard-working, anyway, b/c what we do is for God and not people when it relates to doing the right thing.
Exactly. Pay me. I don’t need your compliments.
Yes I’m very stressed, lost, and depressed with this market. I don’t want to pay so much for home. Being a buyer right now sucks!!!
@jay c I already own property. It benefits me but not young Canadians
Just wait it out until 2023/2024 when the prices drop drop.
Prices will drop. This video is bogus
Exactly! 3 months ago, 2yrs ago when I was looking, big difference! and now can’t get anything as bad as the prices.
I bought in a sellers market with a low inventory. I felt I over payed at $275k in 2014. It’s now an easy $550k. So it’s a tough decision but nowI thank God it worked out. I’m in California.
People aren’t only being comfy with their benefits but scared to get Covid. The gov should be paying employed people work stipends as a gratuity for fighting for Am– I mean Working, for America
Pricing out the local community is a disgrace…
THE ONLY TRUE TIP IS ” DON’T BUY ” WAIT FOR THE DIP OR CORRECTION.
Unless you have something to sell 🙃
Thanks, for the Cliffs’ Notes version.
The only tip should be, to refuse to buy. We should be rejected these ridiculous prices incredibly bad for the economy and the house market in general.
So keep renting and wasting money so when you move you get $0 dollars? Instead of buy and build equity?
@Tahir A. First things first renting is not wasting money, in some cases it better than owning. Secondly as some who owns real estate you make money at the purchase not the sale. Thirdly it’s always bad business to over spend for anything particularly when it’s the biggest purchase most people will ever make. Furthermore it’s a decision you’ll be stuck paying for up to 30 years or more.
@Ben Den yes, sound advice right there!
Hold your cash and wait, foreclosures are coming!!!
okay dave ramsey.
*Flagstaff, AZ Housing Prices Crater 16% YOY As Phoenix Area Housing Prices Drop Like A Rock*
I’m in real estate and I find this so annoying.. People struggling and stressing to buy a home ???!!! I would rather much have the 2% to 3% increase per year… seems like all these speculators want to make money as usual instead of actually buying a home and rehabbing it beautifully and then selling it. I guess that would be hard work. Just crash the market, then buy with money daddy gave you,,, then inflate the market and sell for big bucks , without breaking a 😓 sweat….
When the froth starts spilling over they wheel out this mummified shill to blather on about how it will never end.
This woman’s advice is absolutely horrible! And it’s not the first time for her. She was giving the same horrible advice in 2006 and 2007. Potential home buyers should without a doubt if possible wait on the sideline for this to crest. You can definitely lose your entire financial future by overpaying in an overheated housing market. If you can possibly be patient, you will be financially rewarded. And if you are impatient, you will be financially punished. Whatever you do do not follow the advice of Barbara Corcoran! She will be financially fine, and you will be bankrupt!
biggest transfer of wealth… wait for it… the time for depression
is on its way
Employers complaining about being able to hire people is always complete and utter BS. If you pay fairly, you can hire whoever you want.
ideally, that would be the case. unfortunately, reality has stepped in and told everyone, “you have been replaced with a robot!”
She is talking as a realtor. The more you bit, the more she gets!
Be a foreign corporation and buy in cash?
That’s an idea for Shark Tank!
Stay with parents and work so much they barely see you! I did this before last recession.
@Ilovecoupons Saving money and not buying into a bubble is some republican conspiracy?
@Paul O Liberals don’t do logic.
Once you see those Corcoran realtors nearby, it’s time to kiss your affordable neighborhood goodbye
They are disgusting shills.
DUMMIES PAY RETAIL
here’s a tip…. give up
NEVER give up! If Thomas Edison had quit, then wouldn’t have the light bulb!
I paid cash for my last 3 homes. The first one was a bargain during a downturn. The second one was over priced by 50%. The third one was a bargain during a downturn. I’m done.
@` ́ ` ́ Get back to work so your not late with your mortgage payment. I have a dividend scheduled to land in my account at the end of the month!
I am waiting for the mortgage forbearances to end later this year. In 2020, despite a severe recession and 8% unemployment, we saw RECORD LOW foreclosures. There is something wrong with that. 3 million Americans are in mortgage forbearance and delinquent on their mortgages. That will pop the bubble once the moratorium expires.
I wonder how many houses Barbara owns and has rented out lol
What goes up comes down…..the market is so overheated. It will correct. That will be the time to buy!
Maybe maybe not. This ain’t gravity lol
Look at Washington state – particularly Seattle. It doesn’t come down. For potential buyers to wait for the housing bubble burst, they can wait 10, 15, 20 years – but by that time, the cost is high and it wouldn’t come down to the price that is 10 years ago.
She is giving advise to benefit her pocket. Waving contingency is crazy. Brining a contractor to open houses is a great idea , if you can find one. You can’t predict the market. A crash or a continued uprising in prices. Buy what you can afford . Save your money.
“If you can find” contractor? What does that mean?
@Crushing Housing Losses contractors are probably pretty busy these days. No?
@jackhammer23 Nothing more than typical. Besides… a competent contractor isn’t going to babysit an empty-pocketed buyer for free.
She is spot on!! What great info!
It is like buying a stock at its top.
The market will correct.
When? Not sure.
Been there done that houses cost way to much always something to fix which most things cost a fortune to fix
What was her argument to claim that this is not a bubble ?
Don’t buy now.
Panicked and depressed is right.
Buy when your ready and what you can afford. No way I’m waiving contingencies.
I’d no more believe a word that woman says than a realtor. Oh that’s right. she is a realtor.
Welp, if a person can earn more money by working from home, why would they return to low wage, high stress jobs?
My stepson was a bartender prior to the pandemic and got laid off thanks to the shut down. Now he has 2 side businesses and is about to graduate with his bachelors next month. Just one of his side jobs has replaced his income as a bartender.
Employers are going to have to lower their standards quite a bit while also raising wages before the work is attractive to anyone with even an associates degree. The pandemic hollowed out the older demographic. No one talks about it, but many seniors like to work in restaurant or retail work part time to stay active in their retirement years. The retail store where I work lost about 15% of their workforce due to the risk of the pandemic on older workers.
Now a days, the older workers don’t want to return due to the stress of working in retail or restaurants. I don’t blame them, either.
Barbara: Housing market is hot, so i am Out
No need to buy a house save all your money the market will down watch…..
Barbara is wrong at the end there will be ppl fleeing bankruptcy watch …..
Wow… the benefits from the government are “so extreme” and thats the problem? You mean the 3 stimulis checks and $600 for unemployment? After a discussion that the housing market is so high…. So… not the pandemic? Or the awfully low wages not worth the risk of exposure? I mean… the inconsistency! 😅
We are currently selling our home. We got several offers, including cash with waived inspections and appraisals for most offers. On the flip side, we are also buying a home. The inventory is almost non-existent, if you want a home with curb appeal. We have only put one offer in on a home and came close to getting it. But, looking back, I am actually happy because we were going to overpay for that home -in addition to paying all the transfer taxes and having an appraisal cap. Stay out of the market right now, if you can help it.
And you expect us to believe your tall tale?
In the same boat.
@Crater Tube that’s the market. Why dont you believe her?
@FemmeFan It is? Why would you believe a used house pimp?
Wow, Barbara looked so much better in this than on Shark Tank. Looking younger and brighter. I would agree with others here; the recommendation to chase a home could be a bit over the top. Most of us are competing for the attention of anybody in the construction industry right now, so having that as a ride-a-long is about not going to happen. Then, there is just higher commission, lower equity, super high risk of getting into a leaky roof money pit. I would make offers, but let it go if the bidding gets out of control. Rents are not going anywhere fast. Sit it out if you think the numbers are not right.
And for that reason, i am out
That’s what happens when prices plunge. Demand picks up.
*Tyler, TX Housing Prices Crater 19% YOY As US Housing Prices Tumble Like Hotcakes*
Thank you for having Barbara Corcoran on here in this video.. She is so nice to give great advice..
DO NOT BUY AN HOUSE NOW! Prices are high because of moratoriums + interest rates at minimum ever + low offerings and huge demand. Next year Fed will inevitaby rise rates to avoid inflation, moratoriums will probably stop in a few months. If you have liquidity you can invest 2/5ths of your equity in good fundamental stocks and rent will pay itself with capital gains. Even if stocks will go down for a period of time in the long run they will continue to grow. In a few years you will buy with your equity increased at a lower price.
Not the best advice…. she claims the bubble won’t burst…. that is a very short sighted view… she promotes some desperation that isn’t necessary.
Employers need to raise the compensation for workers, they do that and actually compete for good workers, problem solved
Ok. You first. Oh thats right. You don’t hire anyone and are likely jobless yourself.
If you have have that woman or any used house salesman tell you whether or not to buy a depreciating asset like a house, you’re already doomed.
We saw this play out once before here in Las Vegas. A house I paid over $750,000 for went down to about $300,000 at its lowest point and is just now back to what was paid for it in 2005.
@James Doolittle …. and not a buyer in sight for a fraction of the amount you got in it.
Such good information…just what I needed to hear; thank you!
The government knows that there are a load of people waiting for the pop because they know there is alot of money being hoarded by people…this is why they’re waiting….waiting till everyone buys then the drop will happen……sit back and wait….the pop will happen. The government already mentioned an increase in rates
The patient makes money off of the inpatient. Barbara is in real estate. So she will always push for people to buy. Timing is everything.
I just came here to say I am out!
wait
My husband and I just bought our first home. First house we offered $5000 over asking. We still got outbid. Second house we bid, we got it. We didn’t even think twice. Halfway through the tour, we told our realtor do the paperwork. We got it for $5000 less than asking.