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THE HOUSING MARKET:
First, HOME SALES.
Year-Over-Year, home sales are down nearly 20%…marking the seventh straight month of declines….and, in terms of WHY, their chief economist noted that “The softness in home sales reflects this year’s escalating mortgage rates” – which, as of a few days ago – have begun to approach 7%.
Second, MONTHS SUPPLY OF INVENTORY.
If you’re in the market for a BRAND NEW CONSTRUCTION…supply has ballooned from 3.5 months at the start of the pandemic…to now, 8.1 months of supply…suggesting that, if you’re a buyer – you’ll have a LOT more leverage than you did in the past.
Third, HOME PRICES.
Even though homes are MORE EXPENSIVE today than they were a YEAR AGO…most of that growth was attained within the first few months of 2022…and, for the last 90 days…home prices have been falling. Nationwide, median prices are currently sitting at “$389,000…DOWN from the peak of $413,000 that was recorded in June.”
Even the Chief Economist for Realtor.com said that, “For homeowners planning to list, today’s market is significantly different than the one from even 3 weeks ago”….meaning, we won’t know the true effects of today – until November.
When it comes to this, The Vice President Of BlackNight Research said that “It would take some combination of a 40% rise in incomes, roughly a 3-percentage-point decline in 30-year rates – or a 30% pullback in home prices” to normalize the housing market.
Now, SOME markets could be hit worse than others – including speculative cities which saw the biggest pandemic price INCREASE, and – the high end luxury market which has already fallen 5% in the last 3 months…but, other markets may continue to increase in price….so, we’ll have to take a wait-and-see approach.
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Real question. Are you just using that -49.7% to scare people, but you actually understand what it means, or are you dumb enough to not understand seasonal mean changes? Cause what you are depicting it as and what it is are very different. Like, for instance you say “several areas are seeing drops of 50% from peak” but showing a graphic from a chart that depicts seasonal mean price variation averages from 2015-2019… so the numbers aren’t related to ANYTHING happening today. Don’t mislead people for clicks, and if that’s NOT what you’re doing. Don’t give real estate advice if you don’t understand seasonal mean changes.
Finally.
Not on the west coast, house prices are definitely not going down.
You need to hire some one to coach you on public speaking because if you keep pounding people head with fast speed high pitch voice and emergency mood like this constantly, people can’t not follow your information… Such a very bad effect of presentation .
this is sick i can finally afford a house instead of living in a garage
Bought a “stale” fixer upper w/ 2.5% interest. Used prior equity to make it my dream home. Glad I did, got a great price and interest rate. All with no “worry” about a crash.
Where ? Any data to back this up..actual comps ?
Hope your arm is ok. You got a nasty bruise there
Let’s have lunch. My treat.
The home prices in reno nevada are still going up
What is the reason to blur out those names of the cities?
About time…might be able to afford one soon
When your video titles are always lies it makes it easy to assume your videos are going to be BS too.
Really hope this is happening. In my area, house price are still high as well as intrest rate.
I remember some youtuber (wont mention him because i might be accused of promoting him) made a video a few months ago saying that are buying an index fund that shorts the housing market..a lot of the comments were bashing him and telling him how he’s just pumping and dumping and how he’s going to lose money. Few days ago he made an update and he is in a huge profit
Your hands are distracting AF
@3:48 Well Michigan is over represented in that decline of value chart!
Dude I love your videos and the enthousiasm but the hand gestures is too much
bro that graph that shows a 49% decline is for data from 2015-2019… and it’s tracking seasonal home prices. Legit completely unrelated to the market we’re in. What are you doing?
Inflation will likely hit 10% next year as we continue to raise interest rates. The Fed has made it clear they have no plans to slow down to knock down inflation. Stack that cash!
Thankfully I was able to sell my old home and buy a new one in a new area (pretty much even up), I don’t owe a dime on it and am very happy to stay put.
Thanks for all information . do you suggest buying investment property this time to rent it ?
So I can finally buy a house?!? 👀
just unsubscribed bc you always ask to subscribe lmao
Not pushing any vendor or getting paid but I do have Hippo for my home in Ca, and these guys are on the ball and cheaper than the completion.
50%??? Good lord! This isn’t accurate Graham…
Finally, I can buy my mom a retirement home in another state. Or should I hold out for prices to drop even more?
this is amazing news!
I’m house shopping in May.
This video is very optimistic. NO WAY HOME PRICES will fall that much!!!!!!!!! I hope they do! I want to buy a few.
Good.
Good 👍 affordable housing is important!
Great video everything proven YouTube need to go up to 200 dollars every other year now days
so in other words..”no one really knows”…lol
I legitimately gave you a like because of that picture
In shitty areas only 😎
marry the house, date the rate!!
in philadelphia at least, its a buyers market. clients are getting below asking, mortgage contingencies, inspections, etc.
sellers not so lucky, deals are sitting which is why the above is happening. i would strongly recommend against selling your house right now unless you absolutely need to. if u need to get out, rent it out. wait until this correct in a year or so and then sell
but its also weird because right across the bridge real estate is still really hot.
You’re already successful financially. You should get super ripped and learn how to sing.
Sold a property for 2.1m in Toronto during the month of February this year, houses in that area are now barely selling going for 1.5m right now – interest rates are expected to go up again, Canada is in for a recession soon.
the entire world is going to be affected by the fed rate increases
Not in Europe, here it is raising
12:40 of my life i will never get back. Everything you have just said is more than obvious. Yet the title of your YouTube video on my Google feed is more than misleading. House prices to crash by 50% is nothing to do with the video you have posted. Pretty sure all the noise that has come out of your mouth is all about your paid promo from hippo.
Does this apply to Massachusetts
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Stop with the click bait
Your thumbnails are ridiculous…
If you have a house to sell and would spend $2.5K/mo until you get a new house, probably between 6~12mo, would you wait until next summer to sell the house for better traffic? Or would you sell it now before the collapse? I’m curious to see your opinion.
My advice is to leave the US and become a YouTube vlogger scammer, con artist like Graham to make free money without having to work for a living like everyone else.
Food prices are going up by 50%.. You ain’t eating your house. Bigger Issues” blah blah…
Let’s goooooooo! Been sitting on the sidelines hoarding cash for the last year and a half lol
So much clickbait in this one wow
I pay for premium YouTube to avoid ads. All these YouTubers now plug ads into their videos.
This is a good thing, the prices of homes are way to inflated
Another BS video. Show us how 50% is justified!
Haha…………………..he got again the headache 🤣🤣🤣🤣🤣
You look like crap man.
I hope the grind isn’t killing you.
Take care of yourself broheim, much love.
I personally tried to buy in 2021 and earlier this year but I kept getting outbid by 100 to 200 thousand. I am now waiting to see what will happen but I wouldn’t mind buying a lower price home with a high interest rate that I could later refinance when rates drop. Great video by the way!
only in USA.50% hahah nice joke
I was here in beginning but don’t have real-estate gram I got my credit right like you said an maybe ill be buying that 50% off house of my own. So thanks you created more of you an it hurts your pocket after the video but I know your doing good off my likes so please don’t put a sad face on vids or shock like nick the magic trick guy. Lol you guys should do another collabo
in all his charts i seen many states but no Mention of FLORIDA. in FL homes are still going like crazy
LET GO INVESTORS!!!!!
I got pre qualified couple weeks ago at 6.75% interest I quickly was like nope I backed out of looking for homes until hopefully something changes
But prices are still too high plus hign interest .
We knew it was coming!!! Not the first housing crash usa has had.
we recently hurriedly bought a new bigger house we needed before it was too late and just posted our old one for sale other day. Already got so many interested. Hoping we can get what we deserve aka asking price ( husband did so much remodeling, new siding, new bathroom, new appliances, new water heater, etc) versus being forced to get ripped off with a low price that doesnt cover all the new things we added.. And we can’t afford both houses. So fingers crossed 🤞
Just live in it!!!!
In Florida still going up!
Can someone explain to me the math at 5:32 ?
Do like Robert Kyosaki suggests and put extremely low ball offers on multiple properties. One might hit.
you are too kind to share this!
Houses fittin ta be real cheap!
lets see!
This dude always wrong. Housing market has not dropped 50%
damn
Bullshit!!
What do you think is happening in Las Vegas Nevada with the houses
Not in Florida,at least where I live. Relatives living on Alabama gulf coast say prices increasing.
oh no real estate peeps are losing money. The worst part is that only the banks are making the profit. House prices are going down but with such high interest rates people can’t afford them. It was a bubble time to admit. The real people that are gonna get hurt are potential homebuyers, the middle and working class.
will it be a terrible thing is there is significant correction? isnt it good if home affordability improves
Graham are you by any chance related Tom Cruise?
FOMO has left. I remember some large corporations were buying real estate and further inflated the prices. I wonder how they are doing now.
YES!!!!!!! YES!!!!!!!!!!!!!!!!!!!! We’ve waited long enough fellas, let’s get out of these fucking apartments.
Nice Zenith!
My rent has increased a steady 50-75 dollars every year. Hopefully the house prices start to fall soon 😅
I rather take the cheaper house and higher % rate, at least I can refinance eventually.
I hope he loses his shirt
50 percent ? The sky is falling mentality .
Wowza, a lot of those big housing price drops were in FL 👀
Bullshite it’s 30%
House price aren’t falling people just aren’t paying bs prices
Hi Graham! I have a question: Which is better to buy as your first home, a house or condo? I’m not sure if you already made a video about this but I’m wondering if buying a condo has more disadvantages than buying a house especially when it comes to fees and etc. Thank you and I love your videos. I learned a lot from them and applied what I learned. I now have Roth IRA and high yield savings account.
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Will this have an effect on rent prices along with home prices?
Is anybody gonna tell this man off?? Home prices IS NOT and HAVE NOT fallen 50%, does he think we’re stupid? Does he not think we check the markets as well????????
Homes in my area of SoCal are still selling quickly and usually at or more then selling price. I have no idea how some can afford them.
In Florida a 2500 sq’ home cost to build due to inflation is at $300k-350k on average, if builders can not cut a profit either they cut on production or go out of business. If they slow down construction segment related jobs layoff start to happen, how this affect your industry directly or indirectly? Think about it.
@Senior Housing Analyst a builder
@Senior Housing Analyst none cares
Good
What’s this waving your hands so much… especially in front of your face.
He is good 👍
Lower interest rates will spike sales again but that is not possible right now.
My husband and I were going to sell her home this time last year. Now I regret that I hesitated, because my neighbor is currently trying to sell their home. I have seen the gut-wrenching look on their faces, especially after they lower the price. There’s been literally no foot traffic there, and I’m actually kind of worried for my neighbor.
My parents have held on during the ups and downs of real estate 🏡 .