Breaking Points
Krystal and Saagar dive into the shifts in the housing market that took place in April where the rates of home buying tanked after the Fed rose interest rates to cool the super hot market
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They want the covid money back
The investors buying houses is WAY more concerning than the interest rates. I'm experienced as an agent, investor, property manager and leasing agent. The rates can be changed. Good luck trying to get the Blackrocks of the world to relinquish property to hopeful homeowners.
The Federal Government does nothing but destroy the American peoples lives. Once this monetary bubble fully pops, Jan 6 will be just the JV of people's uprising. Buckle UP
Great reset in action
The problem is that most of these houses are being purchased by corporations and then rented out; good luck competing with that.
You will own nothing and be happy.
I'm a millennial. Let the market crash maybe we can afford one.
Yay! Please make it collapse! Please, like so the prices cut by half or more.
"you will own nothing and you will be happy" is starting to look like a solid agenda, not a conspiracy theory.
We can only hope that an actual crash happens.
Maybe, if the bottom falls out young people will be able to buy a home.
When I bought my first house in 1996, I was extremely lucky to get locked in at 7%! I was 26 and qualified by the skin of my teeth. Sold it in 2016 for more than double what I paid.
God, I hope so.
shouldn't housing collapse? Isn't housing inflation WAY above the rise of income. Sorry to the people who see their house as an investment or get underwater but maybe we need to start thinking of housing as a right and not an investment- one that only a small minority can afford
Could it be a much bigger picture? Could the oil industry be working with others for this to happen? Why wouldn't the US at least talk about nationalizing oil?
I don't see it being to crazy that there is powerful forces looking to collapse the US like the USSR did. Major corporations would love nothing more then to see this, and lets be honest, so to would the people who want to prevent this coming left wave- they would rather destroy the US than to allow a new enlightenment- for the people by the people, but this is why the scotus ruled corporations are people
If Fed policy results in a 20% housing price adjustment, that's a good thing except for those who bought housing as an investment. Long term holders won't "lose" anything unless they sell at the bottom. If anything, it will make millennials more likely to afford housing, not less. I'm fine with Blackrock losing half a trillion and getting margin calls for inflating the housing market. Just don't ask us to bail them out.
Now if the Fed would just stop buying mortgage backed securities to address a problem Freddie and Fannie helped create two decades ago, we might get back to normal levels of real estate appreciation.
"nearing retirement"? LOL
The US Government created the inflation with the nonstop money printing. The FED is trying to slow down the inflation due to the massive excess in the money supply. The government put the FED against the wall with a gun to its head. The FED didn't want to raise rates, they just don't have any other choice.
Hope the housing prices crash! I need to buy
God, I hope so
Do you really want me to sign up and pay you money just to hear more doom and gloom. No thanks.
I don’t agree
Question to Baby Boomers: why are you so determined to destroy this society?
LET THE HOUSING MARKET COLLAPSE!!!!!!!!
Stop people from buying multiple rental properties. Stop companies from buying single family homes as rentals.
FUCK THESE GUYS
"Next decade" Pfft! They could solve this TOMORROW if they had the will to do it.
You speak of it like some natural disaster that can't be stopped. BullSHIT.
I’ll say it again. We’re in our second month in our first home purchase, we had a va loan and got in just under 4% when we closed. It was a total nightmare, we looked at dozens of houses in a couple months, missed out on several because we couldn’t afford to offer well over the real market value and throw a big percentage upfront. We got lucky our realtor connected us with one of her new listings and fortunately the seller was a fellow vet so we weren’t discriminated against for the more strict requirements of va loans. I hated everything about this being our first experience with buying property, but we just decided it was likely now or never and we’re fortunate to have saved enough to try.
My old house was built in 1953 for $23,000. I bought from original owners in 2012 for $475,000 HAD to sell in 2019 for $705,000. Today that house is valued ar $1,000,000 🤷🏻♂️ Now I can’t afford a house.
Pssssst… 2 bedroom rental is $1500 or more a month. What's your point?
(3:48) So grand total of 4% increase. You could have led with that instead of what you did.🤔
Luckily, I got into my house in March 2020. I can never move. Not because I won’t make a killing on selling my current house, but because I’ll take a bath in buying another one.
The fact is you never really own a home. The tax man owns your house. There are good reasons why more and more people are selling out and buying an RV, cash. That is the only way you can own your home unless you park it where they can take it.
We are so fudged..this is what happens when you value identity over competence
Ron Paul predicted the housing boondoggle 20 years ago.
The power was in the hands of people laughing at him.
Again the interest rate hike won’t help so long as cash offers and big companies just straight up buy inventory. The whole market needs to be shook down
If you actually want a house, a collapse is what you want. If you want to just make money off of houses, then notsomuch.
Stop pretending it's not the housing prices that are increasing the payments. People in the 70's were paying 15% interest on a mortgage. It's not the interest, it's the prices. We need to act to stop the landlord class, that is what is killing the market and forcing people out.
Nobody wants to work! Go work hard, save your money and buy a house! That’s what I did. Took me 40 years but I did it !!
The only solution is growth in the economy, and the redistribution tendencies of ther left will just grease the slide downwards.
I have been in RE and Mortgages for 25+ yrs. I could fix this with 1 to 2 pages if Congress and the President would sign it into law.