Warren Buffet: 'What’s Coming Is Worse Than A Housing Crash'

According to Warren Buffett, a storm is brewing in the US real estate market, and what's coming is worse than a housing crash.

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[Kane]

2006 there were for sale signs on half the houses in my neighborhood. There were so many foreclosures that the county stopped doing them and the sheriff ceased evictions. None of that is going on now.

[your.ottawa.realtor]

I think you mis spoke at 2:41 and 3:48 regarding rents being lower. Wouldn't it be high vacancies causing the rental rates to drop and not low vacancies?

[caralexrod]

You’re still pumping housing prices! Wtf!

I live in the GTA, Brampton to be exact, we have around 1 million new immigrants in my city alone ( no exaggeration). Home prices for a detached since February 2021 has dropped from 1.6 to 1.1 million.

You said immigration would put a floor under this market Nolan, you were wrong.

A 33 percent move from 12 to 18 percent in the 1980s on 200k mortgage crashed the market! People are now renewing from 2 to 6 percent, that’s a 300 percent increase on 5 - 600k, that is gonna devastate the real estate market over the next 2 years as 53 percent of people are coming up for renewal.

You will soon learn that real estate can and will go down in Canada even with mass immigration just like the 1980s.

It can’t hurt to check sales of homes and prices over the last 12 months to know where the market is headed or even sales to listing ratios, rather than looking stupid.

Thank god I didn’t listen you when you said prices are headed up and immigration would be a driving factor. I’m up 500k in savings in my city, feels like I’m getting paid to wait.

[Mrgorr]

Okay you had me with the title... commercial real estate in the US is definitely at risk.... residential not so much. In fact I thought you were talking about the Canadian real estate market in the first few minutes. On Munger - My daughter made me buy her Alibaba for her birthday over my protestations because Munger was buying it up.. Even Munger's ball is not crystal clear.

[johnsoncoleman]

. As real estate prices continue their upward trajectory, the dream of homeownership is slipping away for many hardworking individuals and families, leaving them in the throes of an unsettling rental market.

[encepurdy]

Nolan what you are not factoring in that there is zero chance for a subprime meltdown in commercial. Firstly it has been near impossible to get a commercial loan after 2006. At best you can only get 50% and you pay at least 2 points higher then residential. At there loans are only 10 years. Zero chance

[GreenBeanGreenBean]

Commercial has always been the worst sector of real estate for the last and is still highly overvalued. Large chain tenants always want cheap if they leave then it takes years and millions of $ to reno the building for the new tenant if you ever do find one. Not to mention the price is always you think residential is expensive just you take a look at any commercial rates are lower on commercial and the risk of catastrophe is much your main commercial tenant going somewhere else. Residential renters can be replaced easily comparatively even with a broken still better than commercial.