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THE END OF MORTGAGE FORBEARANCE:
Even though over 4.2 million homeowners originally paused their mortgage payments…as of now, 18 months later….1 million of those remain, with a small portion of them STILL eligible for a final 6-month extension if they chose.
In terms of foreclosures – they found that 23% of those borrowers either sold their home or refinanced their mortgages to make them more affordable, 7% are in active loss mitigation with their lender, 3% are delinquent after their forbearance expired…and 38,000 are in active foreclosure, even WITH the real estate market surging to all time highs.
They theorize that this is partly due to an overly competitive and expensive real estate market that leaves homeowners with nowhere to go in the event they need to sell.
But, in terms of what you can do about this, and whether or not the market can actually crash this year…here’s what we know, FOR SURE:
One, the vast majority of tenants are still paying their rent.
The National Multifamily Housing Council found the 93-95% of tenants are paying their rent in full by the end of the month, and this is only 1-2% LESS than prior to the pandemic. That leads me to believe that, most likely, rents will continue trending higher throughout the next year.
Two, building materials are back up thanks to worsening supply chain shortages.
Apparently, so many people started buying the dip that the demand pushed prices BACK UP…so, it could be another year or two until things begin to normalize – and that will be reflected in housing values.
Three, in terms of seeing a wave of foreclosures… Ninety-eight percent of borrowers in active forbearance have at least 10% equity in their homes…compared to the Great Recession, where only 40% had that much equity.
….so, basically…we aren’t going to see many foreclosures, AT ALL..because, there’s nothing to foreclose on.
Fourth, Interest Rates are likely to increase.
Even though, recently…they’ve actually been going DOWN…the FED has made it clear that they intend to combat rising inflation by slowly raising rates throughout 2022…and, as I mentioned earlier…that has the potential to impact housing VALUES as the cost of a loan gets a little more expensive.
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Can’t wait. Need to by some assets on the cheap
Great content but click-batey title 😏
What is that annoying and distracting orange donut?
However if they raise the allowed home value maximum for housing voucher programs as in the build back better bill will raise home prices further. If it passes.
Better for us home owners lol. My house up 60k
@Born2Win $120k since 2016.
Hey graham i live in Denver, co and thinking about buying a house here but everything is outrageously expensive. Do you think now is still a good time to buy?
Right now an awesome time to buy, if you can. Told another commenter above my house is up 60k and I’m in the PNW
Do people actually watch and listen to these clickbait YouTubers? How many times can you be told a stock market, housing, etc crash is imminent?
This will just give the uber large corporations to come in and swoop up all the houses at rock bottom prices.
I’m new to forex trade and I have making huge losses but recently I see a lot of people earning from it. can someone please tell me what I’m doing wrong
Thanks
Why are your captions in Korean? 😅
Every family has a person who breaks the chain of poverty. *I hope you will be that person!*
Before this video I had no idea it takes me 17mins to shower and get dressed lol @Graham, if you did something like Graham in the Mornings on Spotify I would listen daily!
I love how people say they don’t have a crystal ball and then they make all the set in stone statements about what the next year will “look like” After listening to all these YouTube crazies it’s funny how wrong they all are and how they will say anything they have to for views. Zillow CEO says prices will go up next year….then why did they close the house flipping business and lay off everyone related to it as well as other staff…not to mention their stock crashing. It’s like not reported about either. I seriously think everyone is full of crap and just say whatever hoping some of it will stick.
I wish you tubers these days wouldn’t spent 1/3 of their videos begging for people to smash the like button for the YouTube algorithm.
What do you mean they have nowhere to go if they sell their home? They are being foreclosed and forced out anyway? I don’t get this part
if they sell now there is not much supply and of the supply out there it is already expensive.
Why the thumbnail?? Always acting like you have something interesting to say and then you give vanilla. YouTubers are such scammers 🙄
Younger generation are not having kids anymore. America is 3rd world country now.
China is the future for poor. There’s no homeless
I’m buying in China. Turning in usa citizenship…
Americans can’t build anything anymore.
Feds has no control anymore. America is going down anyway…..
Learn from China how to build. I’m very impressed what China is doing…
Usa is blowing up and killing people all over the world. China is building and helping poor. Mainstream media can hide this but people are waking up.
Home prices will double next year…..
When will usa learns how to build homes. I mean its not rocket science.
I sold some rental properties in 2021 because the market has been so high, I only have a few properties in my portfolio. I do have my eye on a home in nyc, but it’s sooo expensive! My godson just bought his first home in CO, it’s beautiful! And I hope the CO real estate market stays high.
The real estate market will not crash until the stock and bond markets go first. All assets are priced relatively, and as long as investors can get a better return on real estate than bonds, they will continue buying up houses.
@Senior Housing Analyst These markets you mention as having cratered are still selling at prices well above national averages. If a house goes from 800k to $1.2 million and then craters 20% back to $1.0 million, that does not mean that it is in a bargain market. You are just manipulating data to make it seem so.
@Senior Housing Analyst I guess I should also ignore Corelogic’s projections for 2022 and 2023 housing market?
The way the current administration is tanking in the polls, don’t be surprised if you see another executive order extending the program yet again. If nothing else, to try and get that popularity rating up a point or two. However, there has been a nice bump in rental costs, for property owners. Many states have already lifted that restriction, with a few throwing in some rather restrictive policies as to evictions and rent increases that impact dealing with bad tenants or trying to cover all those increases due to inflation, taxes and maintenance costs.
“let them eat cake”
HELLO, I’M NEW TO CRPT0 AND FOREX TRADING AND I HAVE BEEN MAKING HUGE LOSES TRADING ON MY OWN BUT RECENTLY I SEE A LOT OF PEOPLE EARNING FROM IT. CAN SOMEONE PLEASE GIVE ME A NEW STRATEGY OR AT LEAST TELL ME WHAT I’M DOING WRONG?
Smashed in California
I now have all of my accounts fallowing you!! Thank you so much for the info.
You guys scream crash everyday!!!
Starting out now is really hard if you’re trying to buy a home already built. Even out in the country prices are insane. Fortunately, I think I found some land I’m interested in buying then building a custom home so I can stay in my budget. Its crazy though that a custom home is the best route these days though if you wanna stay under 300k.
@XxX One yeah where I’m looking to move to is still cheaper than where I currently am with my parents cause it’s like an hour or more from the biggest city in my state. Houses here average around 325-400k for somewhat decent meanwhile where I am now they average 400k-500k for the same thing. Land is slightly over 10k an acre there and here it’s like 40k an acre it’s crazy.
what do you mean by “custom home”? are you referring to a prefab home? one that is built-in factory and then shipped to the site it will be put on and then assembled there? or??
@M A#np I found a builder where I am that builds nice houses for a reasonable price. They have set floor plans for what they build but they’re highly customizable. I’m iffy on prefab cause of the uncertainty of resale value and the mortgage process for one. I’m also worried of their quality
In what state you’re building?
@Plamen Petkov georgia near the mountains
This rich dweeb just can’t stop with the clickbaits.
Thank you Graham for your advice God bless you
When will we ever see a crash it’s so high I can’t afford a house this is some bs
Liked the video minus the smacking of your hands
Why this guy is always yelling? So annoying
He got that Dan Huey haircut.
Just patiently waiting for the house market to fucking crashed
Now I feel fomo and regret selling my house October 2020…but I moved out of the country, pay only $330 rent, including utilities, living on the beach and surfing. Still, fomo makes me want to buy another property in America. I just don’t want a mortgage. I could invest about 150k cash. Where in America can you buy a house for that?
Detroit haha
@Victor Vel Detroit is not bad…but I prefer warmer weather
Unfortunately, someones foreclosed home will be my new home in 2022.
Down 50%? We need more drama.
This guy is a click bait YouTuber! Crash 18, crash 19, crash 20, crash 21 and still waiting in the line
Prices crash? Impossible! When prices are on the upswing and rates at 50 year lows, everyone will refinance or sell (1970’s, dot com recession, corona crisis) your premise is wrong. In these three recessions with massive layoffs, Real Estate kept going up because we were underbuilt. Also, since we are the most underbuilt in decades, the future correction you are talking about will happen at the end of the decade, not in 2022. You also mentioned that prices are at highs and that many speculate that there is a top. That is not what the graph from the National Board of Realtors shows at tops. In the summer of 2005, the summer of 2006 and the summer of 2007, home prices in the US were averaging $230,000 (Three summers in a row). When prices are going up higher each summer, you are not yet at a peak. No Crash in 2022. No way. I used these techniques to sell at the peak and buy back at 1/3 the price 4.5 years later. I am using the same technique to hold for now. My Home is about to double in price and I am going to sell it? No Way! I am holding for now!
Recommended 2022 goal for Graham: Build ten houses.
Graham lookin like a 14 year old Justin Bieber
“Get started today with as little as £500”
As little?
good content, but the constant high pitch of your voice turns people off.
We’re in 2022 and not crash at all in the window! Click bait as always
You were right about the rent increases, my rent went up 29% or $316, just found out one week ago. It’s an apartment in Charlotte, NC🤦🏻♂️
By goodness!. What area of Charlotte? University, South End, SouthPark, NODA or elsewhere?
@Todd D
South end, this is getting ridiculous, the rent is now more than a mortgage😂 new renters have to pay $1500 to get 1200 sqft
Yeah try California $1600 – $2200 and that’s not the best part of town
Doesn’t Blackrock(Banks) want to snatch up house for pennies on the dollar and put Chinese in them? then put us Universal Basic Income (UBI). Bitcoin is GOING to the MOON!
Deceiving thumbnail.
BlackRock/Wall Street is buying it up
This was all by design. The lockdowns and rent moratoriums was the systematic destruction of what is left of the middle class. The state of Calif, Wall Street and BlackRock , etc are waiting to snatch up the foreclosures.
The people still thinking and waiting for the 2008 crash are MORONS. People have way more equity to start into the homes and there are way more mechanisms to prevent foreclosure. So glad I’m not one of those people and bought mid 2020 when I was told to “wait”. Sheep following sheep
Yah? show us how they’ve doubled their income since 2008.
No housing, no money.
Great video!
No.gonit.
This dude spreads fear more than anyone. Is he ever right? I really hope nobody listens to his nonsense.
Graham and all these other morons keep failing to factor in the current income increase in relation to home prices, the bubble is going to burst as soon as the fed stops the tap.
so all the homeless are already homeless and all the people with houses have enough equity not to become homeless because they can always refinance, the rest is just a scale between those who rent who will become homeless
I’m America citizen and or American native
I guess I’ll be renting for the rest of my life. Or leave California.
Is this the right time to go in big-time and real estate
Should we jump in real estate before the FED Heights
+30./%/£.
Housing will continue to be high. All lending and barrowing is based off of housing prices. More likely to melt up to create max pain for avg Joe. Forcing buyers to rent and priced out. Only approve luxuy multi housing units to be built. Once money is extracted move to cheaper town and repeat. Ghost cities are a new thing. NY, SF, LA most of the skyscrapers units remain vacant. Gov squeeze devs, devs squeeze renters till it does not make sense.
Click bait every time
Thank you so much… from the bottom of my heart world is crazy and I hope everyone stays safe. but thank you for not making me feel crazy..
I wonder how many people will listen to your finance degree-less azz lol
Hope those mortgage rates will hit 10%+ .
I had a 12% loan when I bought my home
When you invest you’re buying a day you don’t have to work
Unless “too many people” do the same. The stock markets rises in dollars no matter what because interest rates have fallen since the 70s, credit creation has exceeded wages, and housing has become speculative since the 80s.
Pick a job that you don’t want to retire from, and I’ll show you true happiness that is more valuable than all of the money in the world.
@Ning Yen cocaine
@Christopher Hobb why? Money has its own problems.
@mycatisromeo I make a six figure income working one hour per day from home. I’ll never retire
Bitcoin is good
Imagine if the attempt to keep printing money and lowering interest rates to save us from a recession leads to a recession based on the same factors from 2008
If rent goes up by 20% people will just straight up not be able to afford it. Lots of people are currently at their limit.
I know that you are smarter than me. But I also know that the image was Clickbait. As a full-time real estate agent for 28 years and a YouTuber myself I have seen your content over the years but never really watch or subscribe. I’m reminded why. I think your information is extremely valuable but bringing me in with a scary image is not the way to win my attention
Is it a good idea right now to buy a home for 2-3 years and relocate? My area home supply is 0.8 months and homes are appreciating 20% or more.
Had to put you on 0.5x 😂 always holding my breath watching your videos, coz the info flows so fast 😁
Here’s what I do know. This guy has never experienced a crash and has never held real estate during a housing correction. He lacks the understanding of human psychology. Human psychology will crash the economy
Hmmm? Soooo…Falling wages away from inflation and rising interest rates don’t matter? Interesting!
500,000 homes were 350,000 homes a year ago. There will be no crash. Investors will continue to buy rentals. The housing shortage will not be over anytime soon.
I sold my house better than foreclosure
Where did the people who are buying up these homes come from? More second or short term rentals eating up inventory?
Thank god its about to crash!
Graham – Are you familiar with cost segregation? Commercial owners/home rental owners can accelerate their depreciation (commercial properties are 39 years and apartment/homes are 27 years per IRS ruling.) By doing cost segregation you can receive $40k – $60,000 per million of purchase price minus land (cost basis).We do this by accelerating the depreciation as the building is broken into components that have 5,7,9,15 year life spans as opposed to 39 or 27 year life spans. Let me know if you have interest in this concept to help your followers. Our company is CSSI and we have done over 25,000 analysis for clients. The IRS require the analysis done by an engineer not a CPA.
I work at a law firm who works for the banks and forecloses on homes. We have been at a halt since the pandemic started. We are getting ready to be slammed with work. Unfortunately, many homeowners will not be able to afford all the backpay that has been accumulating over the months and will sadly lose their homes. Signing a mortgage is a 30+ year commitment and many of us were not expecting to be hit with a pandemic.
good to know!
*laughs in Canadian housing market*
Buy now interest rates are going up up and up !!!
@graham Can you make a video about renting to students vs regular tenant.. i am thinking whether to buy in a university town or elsewhere.
good time to sell now
💪😎🇺🇲
Housing is a human right and shouldn’t be a commodity, but the US is a dystopia, so here we are. I’m leaving the country before the end of this year. After living in this country all my life, I’ve lost all hope it will change for the better.
There’s no way I’m gonna buy a house either prices. Absolutely insane
So, we are fucked ?
Can somebody explain to me this easier please?? When is a good time to buy a house?
He just wants his video go viral….very low inventory….. too many buyer….how the hell he saying that housing market will go down 50%.