@ClementRusso2
I think a housing crash will happen because all those people who bought homes over asking price, although it was at a low interest rate, they are over their heads. They have no equity if the housing prices continue to go down, and if for whatever reason they cannot afford the house anymore and it goes into foreclosure because even if they try to sell, they will not make any money. I think this will happen to a lot of people especially with the massive layoff predicted for the future and the cost of living rising at a high speed.
@bernardallen55
In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.
@Nernst96
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
@kortyEdna825
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
@Madmok128
Its not a surprise. The people who understand how basic economics work knew the 08 crisis was coming (ie Peter Schiff and Ron Paul). My famiky laughed at me in 07 because I had to move closer to my new job and decided to rent. “Youre basically going to be paying someone else’s mortgage. Home prices will never come down they only go up” and a year later my father and my uncle tried convincing me to buy his multi family my uncle was going to lose it.
@Barbara0015
Great and well educative video, you’ve package an unbiased analysis that is more entertaining than the sensationalized segment of economic and financial news. Thanks for your efforts to be the signal and not the noise. I understand that the world economy is currently in a downturn and that we must wait for the housing market to recover in order to break even and make great profit returns.
@jrflo1244
These low interest rates should be reserved for primary homeowners ..
@kaylawood9053
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
@joearagona91
Been stuck in a rental for 3 years because of this CORRUPT housing market in Oklahoma! 🙏
@jamesosteen09
I really hope you're right. So many others are saying no crash, higher home prices, etc and I really need prices to come down lol. Let it all crash!
@lowbudgetpokemon
Two airbnb houses were put on sale in my neighborhood in birmingham. Owner is out of state and from the pictures inside, they are clearly short term rentals. Obviously unknown why he's selling, but he's still getting out with a profit if it sells at the listed price, which I think is fairly reasonable.
@cristycanter8514
It is incredible and so sad that family can not buy a house because to many investors bought and sold houses in a high prices. It is impossible to live in USA anymore. Families are struggling with high prices in every thing.
@christinajones9708
I was a perfect tenant and my landlord bullied me to get me out so that he could capitalize on almost doubling the rent out of pure greed. He has not found anyone to rent it, he has decreased the price, and it’s still sitting. I am hoping at some point I will be able to afford being a 1st time home buyer
@richardedwards9424
I applied for a £10k loan yesterday from my bank and they offered it at 26% interest! I've owned my home since 2006 and have an excellent credit score. I know I'm in the UK but I think what's happened to me will happen to anyone in the US looking for short term credit
@WAGMILLC
I've been looking at 3 counties near me for purchasing in. The most expensive one is having houses sell at a mix of at or below asking, one inexpensive one has things sell at asking, and the other inexpensive one is having most sell below asking. It's on a downturn for sure, but not in full swing yet.
@-OBELUS-
I keep hearing about a collapse but mine keeps going up. It's going to be painful to pay the property taxes.
@WatchTowerJ
As a single financially stable dude looking to one day get into the market at some point it has become disheartening to keep waiting and waiting. My rent just keeps increasing while may wage increases ever so slightly. I am from the midwest so we are usually pretty cushioned from all of the major city's dips. I am guessing there won't be much luck for me in the coming future when it comes to housing. AirBNB sell offs won't effect things too much in towns with little tourism it seems.
@conceicaod
I really hope there is a foreclosure explosion, a 500k home as a starter house in NJ is crazy.
@williamschoemann4209
I bought what I could afford. I've paid it off. It's my home, not an investment. Whether the market goes up or down does not affect me.
@ryanwilliams989