#Mortgage #housing #realestate #yahoofinance
Nest Seekers International Chief Economist Erin Sykes sits down with Yahoo Finance Live anchors Dave Briggs, Rachelle Akuffo and Seana Smith to discuss rising mortgage rates, the Fed’s interest rate hikes, housing market inventories, rising rent prices, and how these factors are barring home buyers from entering the housing market that was previously considered “hot”.
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Sounds like people will start to cut prices on these homes…..😮
I’ve started making lowball offers on houses. I own my current house outright, I’ve got nothing but time. I’ll get lucky eventually.
Last downturn took from 2008 to 2012 to find the trough. That is not a short period
She is either a fraud or clueless. Homes bought at the peak of dot com could not even regain their value till 2006/2007 here in Bay Area California
I signed a 16 month lease with only a 3 percent increase. Renting can be good. The roofers are putting on a new roof as I type. Didn’t cost me a dime. Cost me a lot when I used to own a home. And don’t even mention property taxes on a home. My homeowner friend told me his neighbor just bought a glow in the dark basketball so he can play basketball at night when my friend is trying to sleep.
But it does cost you. It’s all built into the rent. It doesn’t cost your landlord a dime, if they are doing it right, because improvements to a rental is a 100% tax write off. So, you paid for the roof, and your landlord gets the expense taken off his/her taxes they owe.
100% tax write off? Doesn’t that mean they still need to pay ~70%?
@Jesse
Just replaced my roof a week ago for $13,000.
Try seeing how long it takes for a landlord to see the return on that through rent when rent prices for the area are $900~$1200 on average.
Tax write offs don’t work that way. You get the taxes taken off of the cost of the new roof, not the whole cost amount.
I see you copy and pasting the same thing in a lot of videos. Are you okay?
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Thank you for this. Will definitely reach out to you for this. Will definitely reach out to her now. Thanks again
I just looked her up on google and she’s a licensed broker, I am contacting her right away, thanks
@Michael Charity once they start arguing, we’re screwed lol
Stop with the BS
Boycott current home prices. You’ll save money as they drop and send a message. Especially avoid open door and large investors selling
@Invisible Babyface Direct lending from the Fed no. They borrow from banks.
@Invisible Babyface Because they arent going to be able to flip them in a month like they have been. We are going into a prolonged recession my man. These houses are going to be underwater for several years. They dont want to hold even more of them. Are you kidding.
@Matthew so in your opinion what’s going to happen when the crash hits?
@Matthew I’m not seeing that here in the mid-Atlantic. Wish I was, but I’m not. Houses are sitting on the market for longer, though. A few months ago they were selling in 2-3 days.
@Matthew My wife and I are ready to buy our step-up house and that’s my biggest fear: buying now and being underwater a year from now.
the dollar isn’t worth anything I have to sell my house for more money
omg Rochelle, are you a man?
Lmao
how do you lock in a rate
Only lock in a rate when you sign a contract for the offer on a home.
Time to offer 6 plus figures and less for homes! fvcmk em🤬
A bit too much Botox going on here
🤣😂🤣😂🤣
Hahaha 🤣
It’s about a rude awakening for home sellers.
Yup, I’ve seen this movie before, I’ll wait I’m young and got time. These old people trying to offload medium sized homes for a milly can ligma.
Using a fake backdrop doesn’t exactly instill me with a perception of honesty. If we were able to see the actual room she was in, I wonder what it would be?
She’s wearing boxers too.
She’s in her messy bedroom, lol.
Almighty God will set everything right now
ricebag ??
LMAO, things are terrible and look to get worse…solution Lock in that rate now!
I sold a home in Halifax. NS in 1981. The mortgage I had had was 13%.
In a year and a half, the rate went from 13% to 19%, The buyer paid a good price to take over the 13% mortgage.
This <,is so great. Just paid off our house and look forward to a new line of credit for our next project. Crazy to see houses in my area that 4 months ago would have had 15 offers over asking are now on 27 days with price reductions...when you see two houses that are the same in almost every way and one closed in Jan for 385k and now the neighbor is selling and they are already down 345k it's almost hard to believe it. I enjoy the change in going back to crypto investment. Your a great teacher. We had a saying, growing up that it's better to have it and not need it than it is to need it and not have it! The world has gone completely Insane! Investing rightly is the key to every successful person out there. Investing in bitcoin is the best investment anyone can do this seasons, because bitcoin investment made a lot of people millionaires. What I'm trying to say here is that you if you haven't invested in crypto yet, now is the best time to do so. Don't just invest and seat on the fence to watch, you're not a baby seater. After investing learn how to trade because that's the best thing to do. Big thumbs up to Mrs. Robin Moore who taught me how to trade and earn more by applying her trade signal and tips to my trade. So far i drifted into trading my crypto Assets after seeing the needful to do so cos of dip, i have been able to trade on weekly basis and atop 15 btc while my start up was 3.8 btc. It's advisable we trade our assets to accumulate more not this hodling thing, just in a case like this that we are in *dip*. It will enable you to stay up even when others are crying, you will have nothing to be bothered about because you portfolio is up while others are down. We all should learn from our previous mistakes and start trading. You can stretch out to Mrs. Robin on ͲeIєɠɾαm @moorerobin or What'sapp ✙12132627458 for more update on how to trade and earn with her explicit trade signal ..
Dirt cheap low interest rate mean nothing for home buyer if there are 30 people wanting the same 🏠 house. We need interest rate to be minimum 7% . That way there are only 4 to 5 buyer wanting to buy the same house 🏠
Yeah go try buying a house with 7 percent with these prices lol
@Sean Conti there are buyers out there that got outbid for 2 years and decide to rent instead.. it’s fantasy interest rate for them .interest rate were 10 % in the 80s
@Sean Conti Buyers need to start having the audacity to make aggressive lowball offers. Make a ton of them, make your agent work for that commission!
Why to inflate in the first place and then cry about housing market fall. Life would be much happier without this drama and gluttony. The <,pandemic has forced commercial real estate to consider whether it’s not just who you know, but what you know. Some sectors did well; others, a disaster. But no matter where you were, it took skill to read the near future, make the right decisions, invest wisely, broker deals when habitual ways of business were gone. Crazy to see houses in my area that 4 months ago would have had 15 offers over asking are now on 27 days with price reductions...when you see two houses that are the same in almost every way and one closed in Jan for 385k and now the neighbor is selling and they are already down 345k it's almost hard to believe it. I enjoy the change in going back to crypto investment. Your a great teacher. We had a saying, growing up that it's better to have it and not need it than it is to need it and not have it! The world has gone completely Insane! Investing rightly is the key to every successful person out there. Investing in bitcoin is the best investment anyone can do this seasons, because bitcoin investment made a lot of people millionaires. What I'm trying to say here is that you if you haven't invested in crypto yet, now is the best time to do so. Don't just invest and seat on the fence to watch, you're not a baby seater. After investing learn how to trade because that's the best thing to do. Big thumbs up to Mrs. Robin Moore who taught me how to trade and earn more by applying her trade signal and tips to my trade. So far i drifted into trading my crypto Assets after seeing the needful to do so cos of dip, i have been able to trade on weekly basis and atop 15 btc while my start up was 3.8 btc. It's advisable we trade our assets to accumulate more not this hodling thing, just in a case like this that we are in *dip*. It will enable you to stay up even when others are crying, you will have nothing to be bothered about because you portfolio is up while others are down. We all should learn from our previous mistakes and start trading. You can stretch out to Mrs. Robin on ͲeIєɠɾαm @moorerobin or What'sapp ✙12132627458 for more update on how to trade and earn with her explicit trade signal ..
Bitcoin
If you <,,had any money invested in crypto and trade in 2021 or 2022 and you pay no one to manage your finances and you decide what you like to invest in like this post. This inflation can never be a case to you cos u trade and earn.
It’s funny how they keep saying homebuyers in trouble when in fact home sellers are the ones that are about to take it up the wazoo.
Sellers are not in any trouble. Most sellers have owned their home for years, and it’s worth significantly more money than they paid for it. Most price drop we are seeing now is a sales tactic to drive more traffic, which usually brings many offers.
I recently sold my home. I priced aggressively, have about 60 potential buyers at the open house, and a dozen offers well above asking. I sold it for about $100k more than I asked, and I got a lot more money than I thought I would. I figured I would get maybe $520k for my house, but I made $560k. Unreal!
Rather than looking at listing prices, look at what homes actually sold for. It is the real data that will help you understand the true market.
@Jesse How long you been in the real estate business? Look at a 100 year chart. It will humble you. Real Estate prices are about to revert back to the mean. Watch and learn.
@Arbitrader dont bother with him he writes comments on a lot of these videos saying the same thing.
@Arbitrader 100 year chart? Inflation doesnt exist for you lol
What exactly did people think was going to happen ??? Did you think this low rate “break” was going to last forever ?? Did the buying public and the younger 25-35 yr old generation who spend by the hr, leases on fast cars, big trucks, condos they can’t afford and a lifestyle built soley on credit think the party would always go on ?? Here is a hint. Pay off your mortgage. Believe me, it’s good. 🙂
Been living mortgage free for two years. It’s great. We paid off our 15 year note in 11 years.
I can tell you as a 25-35 year old that the vast majority of us do not spend money on those types of things. Stay off social media as it’s giving you a false sense of reality
Crazy
Never saw rude home prices yet!
This is simply very strange of why the name of homebuyers is taken, instead of home sellers, investors and recent home owners (who purchased in that last 1 year when the price was inflated), in discussions. Homebuyers have the option to wait, and watch what is to come, and extend their rental apartments. There won’t be any additional expense for them, if the rates rise. But this is not the same for homeowners who purchased during the peak price. They would have to bear the increased mortgage payments, and if incase they are not able to, then would be forced to sell off their homes at a much lower price. Investors too who grabbed homes during the inflated price, would sell off if the rates rise, and if they foresee no value of holding to it. Also investors or individuals who have more than one property, who solely depend on the rental income to pay back their mortgage, would be forced to sell if the rental income is much lower than mortgage payments. Just don’t understand why taking the name of homebuyers and creating a false emotional drama.
Once You pay your 30 year mortgage you shore be 65 to 70 years old,and than you start enjoying your life at the retirement home playing bingo.
What would be interesting is if the GDP flips between negative and positive each quarter for a while ( unprecedented like the past two years) but all the while the stocks keep inching lower.
Rude awakening for SELLERS !!!!!!
People who sold and bought will be fine ! I just bought last November and I have a 100k mortgage for a house worth a lot more lol .
It was free equity with the Covid value lol .
Only first time buyers will be effected to the point of needing to sell
hopefully you could get a bargain within the next couple of years and hopefully you could refi within 3 years or so
Bips and boopsy not working ? ::))) smh 🤦♂️
You mean bad for home sellers lol I don’t need to buy a house as much as people want to sell the top of the market right now. I’ve seen this movie before, Ill wait.
Those crazy pumped home values are evaporating on greedy pig sellers who waited and waited to sell. Seeing price reductions all over the place. Btw never believe these fake news little puppets
2007 all over again
Still talking about Covid…LOL that was a scam.
Crazy
house market is crashing.
inflation in 16%
and interest rate must equal inflation.
a lot of people will not be able to pay the mortage
You own a home especially if you paid to much for it ,It is now worthless no one is gonna buy it inless you take a big loss, if someone is stupid enuff to pay your asking price consider yourself lucky!!!!!
everything bubble is popping.
The more you see mainstream news articles telling you “there is no bubble!”, know that there is in fact a big old bubble.
Bad news for sellers too lol
Did she bring up labor shortage and long Covid in the same sentence🤣 . Crash coming. 2 millions residential units coming on the market by year end. Rentals prices to drop a lot by year end. Gas price will be half off by next year at the same time. Take a screenshot of that comment.
She didn’t say anything.
Wait until Jan-Feb 2023 to take advantage of the Fire Sale. Meanwhile enjoy your 4% GICs
Another assault by the rich on the working class. Until the system is changed, this manipulation to steal will continue.
really stupid to buy now