Here are the worst cities to buy or invest in real estate, why some cities are seeing such a substantial decline, and what this potentially means for you – Enjoy! Add me on Instagram: GPStephan | GET MY WEEKLY EMAIL MARKET RECAP NEWSLETTER: http://grahamstephan.com/newsletter
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THE HOUSING MARKET:
In terms of what’s happening today, Realtor.com found that there are 48% more active listings available on the market than there were, a year ago – and even though that sounds like a lot, it’s still just a FRACTION of what was available, prior to the pandemic.
On top of that, they also found that “No regions saw an improvement in sellers listing homes for sale in April” – which means, across the entire country…there is declining interest in listing a new home for sale, probably because fewer sellers want to give up their existing mortgage rate.
It’s also quite interesting that “The typical home spent 49 days on the market this April…which is 17 days longer than the same time last year.” However, ”homes still spent 12 fewer days on the market this April than they did in the average April from 2017 to 2019” – and this is precisely why the housing market hasn’t seen the huge crash that everyone has been waiting for.
Now, in terms of which locations are seeing the largest price increases and drops, research from Black Knight found that “Columbus, Ohio (+1.08%), Hartford, Conn. (+1.04%), and Worcester, Mass. (+1.04%) saw the largest increases…..while the sharpest one-month declines could be found in markets like Austin, Texas (–0.72%), and Provo, Utah (–0.24%).”
Beyond that, if we look at this from the PEAK of the market in early 2022….the largest price declines include locations in “Austin (–13.3%); San Jose (–11.4%); San Francisco (–11.2%); Seattle (–10.9%); Phoenix (–10%); Las Vegas (–9.4%); Boise (–9.4%); Stockton, Calif. (–9.4%); Sacramento (–8.7%); and Salt Lake City (–8%).”
Now, the good news is that – not “all” markets are at risk, and surprisingly, there are still quite a few types of real estate that are doing incredibly well. Like, Bloomberg reported that vacancy rates for “warehouse and industrial space is low, retail vacancy is only 5.7%, and hotels are garnering record revenue.”
In addition to that ”About three-fourths of commercial real estate debt generates enough income to pass banks’ recent refinancing standards without major changes” – and, delinquency rates – as of now – are still below what they were pre-pandemic.
Office space could be the exception: JP Morgan, for example, warned that “21% of office loans are destined to go bad, with lenders losing an average of 41% of the loan principal on the failures.”
Because of that, banks are expected to scale back on their lending, be more cautious about who they extend money to – and that’s likely to affect you, PERSONALLY, the next time you’re looking to buy a house, a car, or anything else that requires you to borrow some of the bank’s money.
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Here in CT still have bid wars no inventory
Unexpected😂😂
im 19 how can i make money off of this
I thought that was a picture of my house for a second lol goodbye equity 😂
Thought I seen a car behind you how’s it in your home office
It’s WOOSTER bro
The housing market is in need of a 35-50% correction.
Graham people look to you for real financial advise and guideance and all you do is fear monger for views bro. Its like as soon as y’all make it y’all just lose all morals bro. Not right at all dude u got 5M subs. Maybe not this vid because its more in your lane but cmon with the stock stuff bru. Bring back real content
oh no!! …. anyway lets celebrate
Click bait gets the views no doubt
Just bought a house – thanks for this 🙃
Graham rhymes with sham. Coincidence? I think not
No Graham, it didn’t.
What’s up with all the bots in this comment section
Also, crashes don’t take weeks; they take years. Of course you haven’t seen it crash yet…..we are enroute.
Mind doing a video about the 15% tax increase on airbnb rentals in California? This going to destroy everyone who has invested into the str business in California. Most rentals are lucky to operate at a 15% profit or just break even. It will be impossible to do business and it will make rentals that do survive very expensive for the tourists.
Ngl bro you been saying this for the last couple years
Lets gooooo affordable housing incoming
The market collapses because of greed that has driven prices up far above the real value of the properties
Great information however, the system is rigged. Imagine the world where they don’t raise the interest rate.
But yet I’m getting multiple offer on homes…. hummm
The socialist gobmint is committed to punishing people who followed the rules to get votes. All hail the glorious revolution!
I wasnt aware commercial real estate and office buildings were “housing”.
Nice clickbait.
Boris will outlive us all! Haha, loved that one
Anyone else from New England giggle at “war-Chester?”
“Wu-sta” if you’re from Boston.
“Wu-str” the rest of us.
Lots of scammers on here
Sounds very very painful
Worchester! Lol Sorry i live in Worcester (Woo-ster) so it was fun to watch you say it like that! Great video!
Commercial + Investors is the way to go during this market shift – Gary
I like most of his videos. I don’t like how he looks sad/miserable/anxious in the thumbnails of his videos. No acting necessary.
Noted 🫣
“Worst housing crash just started in the US” would have been a better title
The fake license though 😂😂
Where is this “crash” ? In NJ area houses going still 50k above asking
another misleading clickbait video title..
Load up on ammo and get ready to guard your home from hoards of broke and jobless socialists looking to loot and burn neighborhoods after their free government handouts dry up
Looks like house prices are below 20% off from the top of the market in Santa Clara. Cash buyer, the best deal now? Maaaayyyybbbbeee.
I love how he said Worcester. It’s said like “wih-stir”
I don’t think this was unexpected…
Hello guys, I am not too smart when it comes to this but what can I do to prepare for a potential crash/recession? I do own a home that I am renting out. I live with my parents. What should i do? sell and keep the money and stay with my parents? or just keep renting the house?
buying a house right now as an investment no longer makes sense unless you are ready to lose money. Buying a house to live for at least 10 years then that’s a different story.
Broken clock ⏰
It’s Woostah MA 😂
Just a heads up you pronounce Worcester Mass like “Woo-ster” but not like “ooh” more like “uh”. Its certainly not Worchester
I don’t know where you live but in NY, NJ, FL, TN, ext….. the houses are still at record highs….. 🧐
Massachusetts too!
Doom and gloom…clickbait
click bait title
THE YEAR 3000 🎉😂🎉🤣
Its not going to crash. 🤦♂️
Would now be a bad time to invest in Reits?
Click bait
good! let it crash
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in the US.
As with any big financial decision, it’s important to keep your guard up for economic risks. However, smart planning, time management and seeking advice from a financial adviser can help keep you and your money safe.
@Asta Kristján Fantastic! can u share more details?
Keep saying it and it will eventually happen. Good strategy.
Your constant click bait really shows how much you care about your subscribers
I’m so glad I listened to you and held off on buying our first home. The home my wife and I were going to buy has dropped -16% since January of this year alone. 2026, 2027 will be the year to buy again. Once all the dust settles. Thank you, again!
Love the joke slid in at the end😂
8:16 YAY from Provo, Utah, and 8:32 Salt Lake City, Utah (They’re only 45 min away from each other, but the growth has essentially turned them, and everything in-between, into one massive city)!
In northern Utah everything from Brigham City to Spanish Fork is like one big city. As an Idahoan I’ve visited Utah enough to see how it’s all one big city along Interstate 15.
Comments section is overrun with pumpers/scammers
Blah blah blah, blah blah R25VR. Blah DERQ51 blah blah blah. Blah blah blah blah XRM5T blah blah blah.
boy you really pushing this home crash script even thought it wont play out! I am following you for a long time I dont know in what basket you have your eggs in but it is not a good basket. You are trying to convince everyone the house prices are going down FOR OVER A YEAR now and the price are going up and up, supply of houses is going down, interest rates are going up. After how much time will you give up on this house crash idea? Supply and demand are pushing the other direction the only reason I can see for you to keep supporting this is if you have placed you money in some risky risky bet against the market. Yeah eventually after 8-10 years the market will go through another cycle and decline but it will take about a decade as all data indicate. GET OVER IT. Pull you money out of whatever bet you are into. You are in your second year of screaming “wolf”, it is not happening buddy.
Why are all of you YouTube people making this so overblown and out of proportion?
If people couldn’t afford a house in 2008, who would of thought they could in 2023
Sold my house and I’ve been wondering if I should start building now or wait to see if prices come down at all?
*collapse will come guys….get ready , don’t wait for the government go help you….*
Free Boris Johnson
this con artist ( remember he pitched FTX with a smile) is not a future forecaster. Nobody is. He is a YouTuber making money from clicks. He advice is worth what you paid for it – zero
This is the click bait video with the -80% home drops that ClearValue Tax was mentioning!
My office lease in SF is up next year and we’re negotiating a lower rate or we’re moving out. With many working from home, the office spaces aren’t needed like they were before. It saves hours of unpaid employee time commuiting and productivity is unchanged/higher while people are happier. With work from home becoming the newer normal, not sure how people imagine these office spaces not being ghost towns… The building floor across from us near Market St is empty… eerie looking through the windows at empty buildings. Maybe new housing and shared day-rental office/event spaces? My spouse works for hotel event sales in SF and those are down too, so just taking a wait and see approach here…
Crash or correction?
A man reaps what he sows, and, he that digs a pit falls into it.
I wish you would do this on residential real estate
Meanwhile, if you ignore this clickbait video. Housing prices are going up!
Me who just bought a house: 🫣
..as fiat dollars collapse to zero
-80% is an unrealistic number. It’s more of a click phrase.
All of my friends and family are call me crazy when I say “there will probably be a housing correction”.
Baby-Boomers are now retiring en-masse… which means downsizing. If you’re in a 2700 sq ft home and your downsizing to townhouse or condo to fit your retirement plan, and the smaller home with a higher interest rate is more expensive than your current/larger home with a lower interest rate, you ain’t moving
Sounds like Blackstone is running a real estate Ponzi scheme.
I’m starting a business, do you think it’s a good time to lease or should I wait?
Wu-ster. It’s pronounced Wu-ster, Massachusetts. Not War-chest-er.
I know, I know 😂 and you’re welcome.
Hahaha, what crap.
Wouldn’t a commercial and home crash be good for younger couples and business owners looking into buying a home/comercial real estate ? This gives me hope that one day I’ll atleast have a chance to own an affordable home even though everyone has to suffer now
you will never be a homeowner. Own nothing and be happy.
I love the housing crash. I actually wish the whole trend of buying and reselling houses would permanently crash and maybe even outlawed
Yeah you WISH lol
Fearmonger alert.
Meh, we gonna be alright yo…😪
There’s a 💩 ton of sidlelined buyers though with no inventory (myself included) if everyone expecting a crash probably won’t happen… especially with all those low rate locked owners…. FML 😢 gonna end up buying a run down office building & put a kitchen in it 😂😢
Hey just want to help — the “orchster” is silent! Worcester, MA is pronounced “Wister” or “wistah” if you want to sound Bostonian.
I know it’s hard to believe, but you say it like Wister.
“unexpected”? more like longed for and foreseen since 2008 – millennials have hope haha
average price of home sold in u.s. declined by 10% in Q1
I know so many people on the side lines with over six figures lol. How is there gonna be a crash if there are people with over 30 percent down payments foaming at the mouths to be in a house. Idk why idiots even listen to this guy
4:41 I opened an account with Redneck Bank. The Mega Money Market Account. I opened the account in May and it was 4.8% APR, but now it’s 5.05%. My mortgage is only 3.5%.
House and commercial buildings are still way too expensive in Canada and many locations still going up in price and rent going crazy
If you did not buy a house, it is too late for you because the game has changed. This is not 2008 again. No crash is coming folks. Homes are only going to get higher. If there is a crash, the masses will not benefit, only, corporations & investors will as they will pay cash and rent the homes out. This guy just wants your views to make his wallet fatter while yours gets smaller because you are wasting time watching this make believe this.
Do you think it’s a good time to get your real estate license?
A year ago this guy was making a case for to the moon forever hahah once people lose there jobs the selling will begin
We need to be waiting on the sidelines with cash in hand for the feeding frenzy
Can’t wait for the market to crash I am 41 yrs old and currently have 1.8 mill ready to buy when others are fearful
I hope this is true. I’m still seeing 100k houses at 300k in Washington state.