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THE HOUSING REPORT FOR 2023:
Home Sales:
Year-over-year, home sales are down another 23.2% since April of 2022 – marking a nearly consistent monthly decline for over a year.
Months Supply Of Inventory:
If you’re in the market for a brand new construction, supply has somewhat declined – going from 8.4 months worth of inventory, a year ago – to now, just 7.6 months. For all other sales, though – TOTAL inventory at the end of April was up 7.2% from March, and 1% from a year ago.
Home Prices:
As TheWallStreetJournal reported, the national median home price fell 1.7% in April to $388,800 – which, was the largest decline since January of 2012. Black Knight Research pointed out, the housing market has essentially been cut in half, right down the middle, with the West Coast having seen a 10% drop, while the East Coast saw a 10% gain.
As of now, according to Blacknight Research, “14 of the 50 largest US markets have seen home prices fall by 6% or more” – and, if you’re curious which markets those are – the top is Austin, Texas with a 13.6% decline since March of 2022 – Seattle, Washington, with a 9.5% decline – San Fransisco with an 8.9% decline – Pittsburgh, Pennsylvania at 5.4% – and, New York, at 2.2%.
Now, in terms of which states are falling the fastest – Nevada is leading the way, at 4.8% – followed by Arizona, California, Utah, Idaho, DC, Colorado, Oregon, Washington, and Massachusetts. In fact, home prices fell throughout 31% of the United States…which, is the highest decline in a decade.
However, remember: not all markets are treated equally and, some locations are actually continuing to go higher. For example, Myrtle, Beach South Carolina is up 15.4% – Fayetteville, North Caroline is up 14.7% – followed by Fort Lauderdale, St Louise – Hollywood, FL – Boca Raton, Cleaveland, and Clearwater – which, are all at least up 10%.
All of this means that – even though parts of the country are falling, others are doing quite well, and are boosted by relatively low inventory. Because of that, homebuilder confidence is once-again hitting its highest level since 2022.
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Graham you live in Vegas now please say Nevada right. It’s pronounced Nevahda
hey can i ask you about something ?
Just signed up!
Why weren’t u in s6 selling sunset. I know it’s full of exaggerated drama but ur cool bro
Honestly I hate people begging for likes. Especially at the beginning of a video before they’ve delivered anything of value. Pathetic.
Even more disgusting when they have 1M+ subscribers and are already making mad cash return on their content.
Guna have to keep kissing my landlord ass to keep this 900$ rent in a 1900 sqft townhome.. u gota be a dumb ass to buy a house right now
There are way too many people waiting to buy right now to prop the housing prices up.
I’m in the medical field and have been saving in order to buy during the crash. It sucks I can’t as a single person own a home and actually afford it with the interest rates and prices. My neighbor bought for 189 and just sold for 400k. This is here in FL plus the insurance prices are insane right now 😢
So are you still waiting for your precious crash? Smfh
@James Locklear yeah actually I am because it’s going to happen babe smfh
@Katelyn Marie yeah I will happen in your dream wake up and face the reality smfh
I am actually waiting on the crash also to buy. When do you think it will happen? I’m just curious
It is so disheartening. I’m a registered nurse and make $31/hr here in Florida. The south is a much lower pay rate but everything is going up in price except wages.
Man I forgot how much this guys panders to click bait. Gets closer to cnn every day.
The cheapest home in my area is 1.5Million
“Why I’m still wrong” would have been a better title lol.. There is a far higher supply of people who need homes than there are homes and we don’t even have the ability to build enough fast enough. The demand for homes is going to be through the roof for another 10 years and population growth is not slowing down, especially with immigration..
The 🐘 in the room Red states prices are booming 💥 we obviously know why
Zillow thinks home prices are rising, huh? Surprising. Next do a video where you ask a car dealership if car prices will crash and see what they say.
Philadelphia hasn’t changed much. We have a lot of regional migration from NYC and DC for the lower cost of living, and they’ve inflated key neighborhoods, but housing is far from out of reach here in the city.
You talking about talking about the “Like” button will affect your results 😛
I see large homes being built here in Georgia. Five to six hundred thousand each. Developers love it, but most people can’t afford them. Government and insurance companies and banks are making money. They want more people in fewer houses, because it now cost as much for a bedroom as houses used to cost. Where does this insanity end?
Just got accepted on my offer for my second home (even pulled off paying under listing) and was worried for a bit but i plan to live in it for 1-3 years then buy another while keeping this one (I will also be home hacking my extra rooms) the ending ofnthe video made me feel a little more secure in my choice
“Why I stopped spending money”
Posting tomorrow!
Niceeeeee
Why I stopped spending money?
Posting tomorrow 🤪
If you’re doing a test regarding the like button, you shouldn’t have told everyone you’re doing the test.
Mortgage rates will continue to go up
Property tax is overpriced
Real-estate is overpriced
There’s no reason to purchase any of these overpriced real-estate properties!
It’s simple people. Look at how much people are making and how much houses cost… just doesn’t make sense. Something has got to change. Either we make more money… or houses cost much less.
All the stimulus and Bitcoin homes are a thing of the past…bubble popped and is now deflating back to poverty
Thank you! About to go into escrow here pretty soon!
FTX
thanks bro!
Talking about debt ceiling is worthless and pointless. WE ALL KNOW they will have an agreement. Waste of time
But “Real-estate mindset” says in every video that homes are crashing and that its 2008 all over again. And “Reventure consulting” says prices are dropping like flies, that if you add up all the crashes he has talked about homes would be free by now. Oh and Orlando Miner says everything is falling and sellers are panicking and buyers are all on the sideline.
Theyve fallen but they also doubled over the past few years
Totally Agree Graham…
Too bad it’s not my city – prices still crazy
A key indicator may be overlooked mortgage applications are down 30%
Houses still going under contract in less than a day here in Richmond Va
No one believes your hype. People are not leaving a 3 % mortgage for a 8 % mortgage so inventory is low in good neighborhoods, dummy ! So buy or rent !
Perfect timing. Bought at the top. Get get the discounts guys
what does he say in the beginning? “whats be guys?”
How do you live in Nevada and say it wrong?
this man is going to keep saying its going to crash every month until it does then he will say i told you so. A broken clock is still right twice a day
Nice hair cut
Put the stooges at black rock in jail and all of these problems will go away
People staked so much into real estate. If it falls again another crash and recession
I live in a little valley in Washington State and prices are still insane. Average home selling is 300k plus. While average wages is 45k a year
The price house has gone done but the mortgage rate is crazy so no supply
This thumbs up is for the goldfish 👍
so why haven’t home prices crashed yet? I feel like you said everything but answer this question
Never forget this guy shilled FTX
not in Clearwater, Florida, this is not the case.
Can we stop talking about this I’m trying to sell my house now and this is spooking everyone out
4:03 Bro mentioned my home city ( Orlando), now I feel famous 👏🏾🙌🏾
WTF!! where do you live? it’s not falling in California..oh yeah, I forgot, California is it’s own country.
we bought a not so great house in 2017 as a way to save up, now that we’re getting close to wanting something bigger/better prices are ridiculous so might just say f it and stay here forever lol
This is crazy. Powell keeps saying this is inflation but it looks like he is giving his corporate buddies an excuse gouge people after loses from COVID. He said to get to normal, he would like to see a lot of lay offs and increase in unemployment. Wtf. These are peoples lives not just numbers in a computer model. Powell is holding the market hostage by keep rates artificially high. Whatever happened to the market doing what the market wants? That’s only the solution when it’s good for stock shareholders not when unemployment is at historic low and people are finally being paid a decent wage
Great intro now!!
silly goldfish
“..so here’s a picture of a goldfish!” 😂😂😂
So they’re forecasting that despite San Fran losing ~9% YoY
That magically that number will be 3X smaller next year?
2.5%?!?
We weren’t born yesterday
Hand gestures
Was it because of talking about the like button or because of the goldfish 🤨
I like all videos you post but physically forget to hit the like button until you make good corny joke about it and then I laugh and immediately like. Keep up the good work my friend! Make the like button joke in the middle or toward the end of the video so you guarantee when you actually mention it, they’re enjoying the information by the
Still having trading sponsors after the FTX debacle, yikes bro
Every time I watch one of this guy’s videos, I feel like he should be saying, “Yes Mr. Stark, sir.” 😂
But he gives such great info!
Lol for Texas and the carpet baggers. Those Texans have a built in depreciator on properties called the property tax based on appraisal value. It starts hurting after just $300k.
i love beign 20 years old and having to buy a car at the height for the car market, watching the housing market crash but not having enough wealth built up yet to afford one. Then in about 5-8 years when i hoplefully have saved enough, buying at the gaint boom from this historic low period
Where i live, houses have gone up 40-70k .. so I’m def not seeing it. At this point I doubt it will drop here on the west coast. 🤦♀️
I can rent a house for a year for $2500 in Thailand Forget America I did in 1988
The robotic constant hand movements gives me anxiety.
Fed thing = fraud = poverty
Honestly I could see the ban of single family home ownership by companies as an absolute necessity to allow actual people to own homes. However, our corrupt government ever doing such a thing is unlikely.
i only liked this b/c of the goldfish
People only live on the coasts
they always say its the beginning, fear mongering.
As a buyer, I am only willing to pay 2015 prices at current interest rates.
Prices won’t drop until the population does.
Can I tell you something bro, I think you sold your house way too earlier than the peak value. You must be wishing a crash now but it is not happening. I get your pain. Hope you are getting some money from creating videos on YouTube.
It should be a good video if there wasn’t a five minute introduction and waste of our time
I felt that Granham just spit out some facts and predictions without much thinking. This video did not ring a bell at me.
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
@richard hudson 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.
@Tatiana Starcic How can i reach her, because I’m seeking for a more effective investment approach on my saving.
@Maia Danziger My advisor is “Laurel Dell Sroufe”. In terms of portfolio diversity, she’s a genius. You can look her name up on the internet and verify her yourself. she has years of financial market experience plus she is also FINRA & SEC verifiable.
I can’t with the hand movements… somebody tie his hands
Housing is down 20% from the peak in 2022 around austin
Sellers are still trying to get pandemic pricing!
Prices still going up where I liven
California will be the hardest hit especially riverside and San Bernardino counties super inflated I’m sorry but 90+ weather almost every day nothing to do out there and they want 500-750 k yea definitely not appealing at all
I’m looking into buying a second home in Florida to get away from the winter. These prices are absolutely ridiculous 😞💔
I like the pic of a baby giraffe.
Lack of supply still.
There won’t be a “crash”, when millions of buyers are ready to buy and absorb any potential “crash” whether it be lower interest rates or lower prices. Adjustments, maybe, “crash”, naw.
I have news for you people. Housing will not crash any more. The reason is that there are numerous housing investors now with loads of money looking to invest in new and established houses. A lot of this money is dirty money. Best place for money laundry is housing. These investors buy and buy and buy and keep these homes for years to profit from price rise. They may even keep the homes empty and not rent them at all because the price increase is way more than the rent they can get.
The reason for house price increase is the investors. A person can live in one house only but he or she can own hundreds of houses. There is no limit to greed and these investors have loads of it. Many of these investors are foreign and don’t even live in the country. They have enough money to buy the whole country and given the chance, they would. Governments know this but do nothing about it because investors bring in money and keep the housing market hot.
In China there are 100 ghost towns completely empty with millions of homes in them. All these homes in those ghost towns are sold over and over to investors and they keep going up in price without anyone living in them or even living in the city. They are falling apart after many years of non-maintenance but their price are still rising. This is while many Chinese can’t effort to buy a home for themselves in those ghost cities. As long as there are investors, the home prices rise and rise.
You said that about last year…. 😒
Florida’s real estate market is crashing hard. Case shiller reported that early April numbers for Florida are looking at double digit declines MoM. -12% for April alone.
The growth areas are retired ppl hot spots everywhere else is flat
So many people in the comments complaining about not being able to afford a mortgage. Instead of waiting for prices to fall, take steps to further your career. It may just be easier to dedicate time over the next few years to find ways to increase your income. Ex: getting certifications in your field, talk with your boss on steps you can take to get X role. Maybe consider a new career path.
At 23, I can’t afford a mortgage. But I can do things to increase my income so I can afford that mortgage down the road.
First makes a video saying prices will crash, next, make a video saying why they haven’t. genius
Graham telling everyone 2023 is housing crash and it never happens is the most Graham thing ever
Seattle homes itself might have fallen a bit but the surrounding neighborhoods around the area have actually stayed the same and sell fast when they do go up because our inventory here is still very low .
We need a crash badly. Let’s not forget that if it wasn’t for 2008 most Gen X wouldn’t have had the homes they’re in now. We need a reset for each generation it seems
I think home prices will only go up. In the end, homes are built and maintained by people who need to live. Living is expensive these days and labour costs are increasing. Corporations want more money as well
This was always the outcome when they raised interest rates. Also, auto loans markets will crash. It’s not good and dark days are ahead.
Prices haven’t crashed because of Dodd Frank.
I’m already subscribed so heres some engagement
Indianapolis selling houses for almost a million is not going to last long.
Student loan payments restarting is going to have a huge impact as well.