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THE HOUSING MARKET:
Redfin just reported that “the median U.S. home sale price fell 3.3% in March, to $400,528” – which, was the largest year-over-year drop since 2012.
This is just the AVERAGE throughout the entire country, which means – other areas are seeing SUBSTANTIALLY WORSE declines – for instance, Boise Idaho has fallen 15.4% from a year ago with 78.8% fewer pending home sales, Austin, Texas is down 13.7%, Sacramento is down 11.9%, San Jose is down 10.5%, and, Oakland is down 9.7%.
NEW MORTGAGE FEES:
A new rule was announced that would “force homebuyers with good credit scores to pay higher mortgage rates and fees to subsidize those with riskier credit ratings who are also buying houses.” Although, in order to understand what’s going on, you first need to familiarize yourself with a term called “Loan Level Price Adjustments.”
These were introduced 15 years ago, after the mortgage crisis, to compensate for risks associated with lending money. In January of this year, NEW changes were put in place in an effort to level the playing field between those with GOOD CREDIT and those with BAD CREDIT – and, starting May 1st, the biggest discounts will be given to those with BAD CREDIT.
Here is the BEFORE / AFTER:
https://singlefamily.fanniemae.com/media/33201/display
https://singlefamily.fanniemae.com/media/9391/display
The largest changes really come from those with good, but not GREAT credit, in between 700 and 780 – and, this heat map really shows who’s paying the most:
https://a.mortgagenewsdaily.com/assets/63c9a2932026a02d6ca2665a/63c9a2932026a02d6ca2665a.png
Keep in mind, those with BAD CREDIT still pay more in fees than someone with good credit – but, people with good credit now get less benefit than they did before, while those with bad credit no longer don’t need to pay as much.
THE DEBT CEILING:
The United States is quickly running out of money, at – at current estimates – this could happen as early as June 2023. In terms of what could happen, JP Morgan believes that “they expect the debt ceiling to become an issue as early as May, and that the debate over both the ceiling and the federal funding bill would run “dangerously close” to final deadlines.”
As the New York Times pointed out, “breaching the debt limit would lead to a first-ever default for the United States, creating financial chaos in the global economy. It would also force American officials to choose between continuing assistance like Social Security checks….and paying interest on the country’s debt.”
Let me know what you think about this in the comment sections – or, if you’re actually reading this (I have no idea who actually makes it this far down), feel free to comment ‘LOBSTER.’ It’ll be totally random and no one will have any clue what you’re talking about – but, it’ll be our little secret. Thanks!
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Here is a link containing the source material for each piece of research cited. I do my best to make my videos as accurate as I can, and the additional resources should help anyone who wants to look into them further – enjoy! https://docs.google.com/spreadsheets/d/1kAbLnksmIV2pBcJIQe1-HcAzAuuW7Kupcwx1I3qSRks/edit?usp=sharing
Whenever you show a survey get a clip of Steve Harvey saying, “Survey Said!”
Its not the accuracy, its the limited scope. Why not combine specific areas that are hot, some that are cold, and then the national trend…. your videos are one sided.
It’s different this time because they are deliberately trying to crash the economy to roll out a new financial system. They want the middle class to be poor and own nothing, and if you do buy a house, they are going to make it so difficult and expensive to maintain it and bring it up to their climate codes.
Nothing here is being done by accident.
Starting….. now
No doubt it , and I really appreciate your effort, but you are not seeing the whole picture.
Where is now the house market crash ?
How long do I have to wait?
There is nothing wrong in Recognize that you were wrong.
How is this worst than 2008?
So kinda like a stand off . Sellers don’t want new higher rates . Buyers won’t /can’t buy at absurd “covid ”prices . So the whole market comes to a grinding halt . Realator’s go out of business . That would be great for the market to correct itself .
Is it me or has he posted like 50 “the next market crash is here!” videos… beginning to feel pretty click-baity…
What’s up Graham it’s guys here! 👋🏽
So once again the middle class gets hits the hardest just lake all taxes. I still dont understand how these things get voted in by the middle class. When will people wake up. We need tax reform. Down size the failing business that calls itself the government. Any other business would have gone bankrupt years ago. We cant keep giving money to people that dont know how to spend it. Stop raising the depbt ceiling. Just stop sending money outside the country. Down size the government. Its not that complicated.
Just click bait housing prices are stable/slowly increasing
Good video steph, i like your videos, talks, and investing strategies. On top of that i like your personality and the way you treated your tenants.
I would like to suggest you to read the Holy Quran and to know something about Islam because you have such a great character.
The American dream is dying unless you become a millionaire many times over. Big real estate investment firms want people as renters..
I agree. They do. It’s by design.
I’ve tried to explain this to some people and they look at me like I’m the conspiracy theorist. At least I don’t believe in Bigfoot like they do. Morons!
Makes me mad that there are so many idiots and nobody listens.
Youtube recommended this video to me because I watched ClearValue Tax’s video on housing prices. ClearValue Tax said, “I don’t see how how housing prices could possibly crash more than the 2009 crash, which is why I don’t make videos with thumbnails with houses on fire”
Shots fired, my friend
Oakland is not a good location thou…. lol
And lets go brandon
Okay, so let’s lower the cost of home ownership for those who have a history of making poor financial choices such as going to collections, defaulting on loans and missing payments. Meanwhile, everyone else who has been doing what they should be doing are going to subsidize that cost. This is our fucking country.
I hate knowing that my generation, Gen Z ,will have to fix this countries broken debt ceiling in the future.
I know. We will have to deal with many problems, I just hope we actually fix them
Hello guys, I’m dad.
How about the gov’t stops giving away money it doesn’t have and stop sticking the American taxpayer with the bill!
The proxy war in Ukraine is a massive money laundering scheme to bleed wealth from the American citizens and line the pockets of the Industrial War Complex and the crooked politicians they control.
The ideal of a “Democracy” is universal equality, the ideal of a “Constitutional Republic” is individual liberty.
A “Democracy” always evolves into “Dictatorship” which promises equality and security but delivers nothing but poverty and serfdom to the people it robs and rules. Those who would sacrifice liberty (freedom) for security deserve neither. Don’t fall for these false flag naratives that trick you into supporting these evil wars!
The USA was founded as a “Constitutional Republic” to safeguard the people from the Tyrany of a “Democracy” and “Dictatorship”.
Look at America now, overbearing govenment controlled by corporate lobbyists, banking cartels, big pharma, and the military industrial war complex!
Power corrupts and absolute power corrupts absolutely! Wake up people and stop this madness before it’s too late!
The city I live rent doubled in a year but wages stay the same. I never had a problem paying my bills until now. 51 years old living out my car
All of the research that goes into a video like this? tell me about the research you did about FTX.
Great explanation
U said “ what’s up graham it’s guys here”
7:56 is the end of the Sponsorship ad
I respect your opinion, I don’t see any crashes, of course prices has been down but not dramatically. Inflation keeps up, meaning that tools supply and raw material are more expensive, not to mention labor.
In other words, new houses are more expensive to build .
The only way the house prices crash is if the whole economy system goes down.
Banks system or a war.
That’s some impressive choreography.
Really I didn’t know if you’re above 780 you don’t have fees. I’m probably a couple points shy of 780 so that’s good to know as if I get my credit up to 800 I’ll be saving money.
This is will simply cause people who have good credit to tank their credit on purpose right before applying for a mortgage. Anyone with a half functioning brain knows how to reversibly tank their score… Just take your lowest limit card to 100%, done deal, more than a hundred points down the drain, you simply pay it off after it’s reported.
“What’s up Graham, it’s guys here.” 😂😂😂
it makes a lot of sense, ppl with good credit score are mostly middle class, the government is taxing middle class to cover the risky loan bets made by the wall street elites to the poors
What are your thoughts on CBDC’s coming into play ?
Your thumbnails make you look grifty
This is a BS idea!
Get rid of rental property and that would go a long way to helping the economy. Renting is usury
First sentence you said what up graham it’s guys here. 😂
Always very important to know what we are dealing with 👍🏻
“What’s up Graham, it’s guys here” 😂
Whats up graham its guys here, dont you think for a minute I missed that. 😀
Biden destroyed America !
The wealthy destroyed America. Inflation is just price gouging by the rich. Tax them more!!!
All I can say is that I did the math, and with interest rates, I would throw away more money on interest in year if I bought a house, even with 20% down, than I would on rent for a house. And the cost difference between renting and a mortgage, I could put all of that and my down payment into a high yield CD for a chunk of time and make more money. My other choice is to buy a house in an area I really don’t want to live in, but still, for that to work out, I’d have to live there for a long time, and I don’t want to. I’d rather pay rent to be near my family while we wait for things to settle down. It’s really sad though.
The current system is completely unsustainable. The only reason it continues ‘as if’ is lending and debt. Lending for healthcare, for homes, for education, and plain old credit cards. trouble is, when the bottom falls out, the lenders get bailed out and consolidated, and everyone else loses their shirt.
@Fredrick Jackson How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don’t want to take any chances.
I am extremely grateful to hop on this success journey and also ready to accept the VOLATILITY..I did find her page on the web and also proceeded in scheduling a call.
This President has to go! Why I have to pay for someone with bad credit ???
Socialism/Communism is happening right before our eres. We need to get rid of the foreign central banksters for good…. the irs.
What is going on?
Will it crash like FTX? Remember the coin you promoted and then it completely crashed 💥 that one. Will it crash like that one?
Your wrong, Florida real estate never goes down lol.
If the current value of my house falls 25 percent, then my property taxes will also go down 25 percent. Right?
Lobster
Major indexes booked their worst yearly performance since 2008 thanks to drivers like the recession, war, hiked interest rate and inflation which so far doesn’t seem to be easing off, so I’m left wondering what 2023 has in store for us investors, I’ve been sitting on over $745K equity from a home sale and I’m not sure where to go from here, is it a good time to buy or do I wait?
lnvestors should be cautious about their exposure and be wary of new buys, especially during inflation. Such high yields in this recession is only possible under the supervision of a professional or trusted advsor.
I agree, having a brokerage advisor for inveesting is genius! Not long ago amidst the pandemic crash in March 2020, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i’ve accrued over $550k with the help of my advisor from an initial $120k investment thus far.
@Luca Greco Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Sure, the investment-advsor that guides me is Camilla Buck Merrick, she popular and has quite a following, so it shouldn’t be a hassle to find her, just search her
Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
That’s funny how with money running out for American services, there’s always money to pay for Ukrainian social security.
this guy needs an updated camera and studio
Here is what is happening. The GOP is absolutely gonna crash the economy so they can take over the government and assert their authoritarian government.
4:26 So people who do everything right get penalized?
9:47 If the United States doesn’t have any money, then do I still have money?
Hopefully house prices can go down a minimum 50%
People still can’t afford anything. Either lower the prices or raise our salaries.
The wealthy won’t do either and they OWN this country. Makes me mad. 😠
Adding student loan payments on top of all of this will be like throwing gasoline on a fire.
I damm hope so!!! Maybe buying a house would be affordable
what’s up grahman it’s guys here
Good thing I closed on my home two months ago. This new rule would’ve killed me.
I’m 23 and I been talking about this to people n they always said I was Delusional. It doesn’t make happy that was right. It angers me. But we get put in jail for doing anything out the book but big banks over here unloading dog sht loans
Home values decrease is regional and the Debt Ceiling will be raised. Plan and simple. Wish all you want….
I am making a huge gamble .
Selling home , in my area ( Permian Basin) prices are still increasing.
Im building in Conroe ,TX. Where prices are dropping.
Withdrew from retirement 401k .
Sooooooo go big or go home .
If i have a 4.6% interest rate on my loan, is it a good time to buy a home or wait?
Home values continue to decline in my area, Deerfield, Massachusetts. My homes value has declined -18% since January. Can the government step in and stop home value decline? If not, my husband and I are going to walk away from our mortgage. We purchased in 2021.
It will go back up eventually. Things go up and down…
Great video
AS USUAL…misleading titles CLICK BAIT! many words….no valuable information. Since you’re not a Real Estate Agent, maybe you should leave this topic to the EXPERTS!
How does it seem like a good idea to just kick the ball down the loan and borrow more just to pay for it
Yeah… ppl with good credit are not “balancing out” people with bad credit. Ppl with Bad credit honestly pay 10 to 20 times more – who do you think has been paying for you ZERO interest, 0 APY rates for all these decades. I don’t celebrate bad credit, have been there before and bounced back but just saying
Just to be fair. let’s stop looking for a scapegoat here. Banks are the one to blame overall and of course maybe some level of foreclosure and those ppl. but bc you don’t want those ppl in better jobs, no healthcare, having to choose between educational opportunities or paying for their housing car insurance and food- they are under water and now the sludge of that has backwashed onto your kitchen table.
Let it crash. We need room for migrants.
I mean, wouldn’t the US defaulting on loans lower our credit score making us pay less fees? 😂😂
“If the stats don’t line up, find new stats to measure” -The United States
Houses made out of cardboard and skinny pieces of wood should not be valued at 500k+ they should cost max maybe 80k-100k
In the Chicago area, they’re still at record highs
Imagine 🇨🇦. This country needs to tank hard.
I am so glad I as able to get a cheap mortgage of $711 a month. Rent around me is $1,200 and up. I don’t know how people not making at least $20 an hour can make it and $20 would just be hardly making it.
Will this guy shut up already about there being a market crash. Its not happening the feds wont allow it
You guys have been predicting a housing market crash for over a year.
Good information, but no one speaks or acts like that.
Why does Graham keeps on calling the audience Graham. For the last videos I’ve notice he says “what’s up Graham is guys here” that is funny.
There’s a lot of talk about crashing prices but they just keep rising.
What’s up grabs is grub here
because home prices are grossly inflated and after the crash wall-street will buy it up and become slumlord’s
I didn’t see that crash in NY at all.
It didn’t come to Idaho either.
They’ve been saying this how many months in a row now? Still no crash
i dont care i got hex us about time right ,?
wow man you’re debt ceiling summary is one of the most disingenuous things I’ve heard you say, and you’re wrong frequently enough but that was bad. You didn’t mention that Republicans want a (another) massive tax cut for the super rich and then after that they want to cut spending on veteran services, law enforcement, SS and other essential services millions of Americans need. That was so misleading i think I just watched you participate in straight propaganda.
wasted my time and nothing of what you said is predicting a crash
Loan level price adjustments = Socialsm.
Click bait graham
Not in Georgia. This market will not crash.
I see 👀 that ford GT behind you
I’m a first time home buyer. Worse for who? Not me. I hope it crashes so I can buy an affordable house.
Housing market’s not gonna crash. Too many people bought or refinanced when rates were historically low (2-3%). No-one is selling creating a housing shortage and increasing prices. Only investors and the wealthy can buy now. (TBH, I didn’t watch the video.)
The have nots and the have yachts
I don’t think it’s a a bad idea to make it less favored towards good credit in order to afford a place to live. We are a society, we all agree to live and work together for a greater good. Our tax system is already set up like this. The people with more money have more perks than ones with less; however, the rich also pay a larger percent that goes towards public funds aka taxes.
This guy is a click bait queen… how can you have a housing crisis when demand far outstrips supply?
The developers are literally limiting supply to artificially increase pricing.
About to rent some heavy machinery and build a house my damn self
I’m pretty sure that the U.S defaulted under the Obama Administration
This is Bidens america
the shutdown was the first HUGE mistake then the Feds finished the killing of the economy. housing and car market will be destroyed. years before we setback but inflation as they call it is here to stay. higher interest rates compound the problem.
This is the click bait video with the burning house i heard of from clearvalue tax video! The market is not going to crash as you say it is…. just buy now and wait!
You are delusional if you think we are in the same conditions on 2008.