It Started: The Worst Housing Crash In 40 Years

The YouTube Creator Academy:

The 2022 Housing Market:

First, mortgage refinances. =
In July, every single aspect of refinances dropped to its lowest level…ever reported…in history. In addition to that, this was ALSO the first time - ever - that HOME SALES accounted for 64% of all mortgage prepayments.

Second,Home Prices.
As they report, the housing market has officially shifted from “slowing down” to a “DECLINE” in July, with median prices falling for the first time in 32 months. That means, that annual price growth in July was the fastest single-month deceleration in more than 40 years… falling during a summer month, that usually increases.

Third, they noted that some markets are being hit worse than others:
The largest decline, so far, is awarded to San Jose, California - with a 10% drop in just the last 3 months…along with Seattle, Washington, at 7.7%…San Fransisco at 7.4%…San Diego…Los Angeles…Riverside, California…Portland…Las Vegas…and finishing off with Richmond, Virginia with a decline of 1.1%. All in all, more than 85% of major markets have seen prices decline from their peak…with a third experiencing declines of more than 1%.

So, in terms of what this means for YOU:

One, when seller’s can’t get the price they want - they’re instead, choosing to rent - and this is good news. With more homes being offered for lease…this should help ease low inventory, and bring down monthly prices right alongside with it.

Second, as we approach the end of summer - housing demand typically declines, and that could be even MORE pronounced throughout the rest of 2022.
A RedFin Chief Economist even went so far to explain that “Thanks largely to mortgage rates near or even above 6%, potential homebuyers and sellers are focusing on the back-to-school season and enjoying the last days of summer rather than getting into an uncertain market.”

Three, even though this sounds severe - it’s probably NOT going to lead to an “all out crash.”
For example, Moody’s Analytics believes that - most likely - housing prices will shift somewhere between 0 and -5% year over year, to as much as -10% if we enter a severe recession…this “worst case scenario” still pales in comparison to the 2008 Great Financial Crisis, where housing prices fell 33 percent from the peak, over a period of 3.5 years.

Four, because of that - there are some steps you can take to come out ahead, IF you’re in the market for a home:

One: Shop around your mortgage rate. Even though rates have gone up - significantly - that doesn’t mean you can’t get a better deal with someone else…so, it doesn’t hurt to ask.

Two: Don’t get attached to one any property. Chances are, eventually - something else will come up that’s just as nice, so negotiate as best as you can, and don’t be afraid to walk away.

Three: Lock in a FIXED RATE LOAN. That way, no matter what happens, your payment stays the exact same.

And four: Only buy a home that you intend on keeping for at least 7-10 years. That way, you’ll be able to ride out any fluctuations in the market long enough for it to - hopefully - recover.

My ENTIRE Camera and Recording Equipment:

[behind-the-gear]

This isn’t a crash this is the housing market going back to reality.

[fastjake]

Again my worst financial mistake was being in the 8th grade in 2009 when I should’ve been buying foreclosed real estate. Silly me.

[RebekahParkhurst]

Graham; “It started: the worst housing crash in 40 years.”

Also Graham: “It’s probably not going to lead to an all-out crash.”

[TimMorrow]

Graham: “The worst housing crash in 40 years”. Also Graham: “No Crash”. Like the content, but man, those titles…

[epmonk]

Graham, from a long time viewer. As a channel that tries to promote financial literacy, can you make a guide for people wanting to buy their first time home; getting an agent, passing a notary, getting a pre approval, etc. I know multiple people would love to see your take on this.

[garrhetsampson]

“Interest rates. Yes. Yes.”

- Me. With $30 and a small can of beans in my bank account.

[RyanPoehls]

the housing prices went up so high, so fast, it was bound to rebound and correct itself based on median income levels.

[Nine]

I was almost able to afford one until 2020 came through and tripled housing prices.

[theofficialrafff]

early buyers: “OH NO WERE LOSING OUR INVESTMENT”

Me (knowing good and well I still can’t buy a home): 🕺🕺🕺🕺🕺

[Dbf]

Homes I saw 4-5 years ago for 150k+ more without any remodeling or anything it needs too do more than just a decline needs too go back too reality

[joelberdat]

world: housing crisis is here

Graham: what’s up graham it’s guys here

[alejandro]

Hopefully i can buy a house in the ghetto for “slightly” less

[Blindy_The_Bat]

My wife and I just bought our first house for 12k under asking. It was definitely worth waiting a little longer to look for a house. Asking was 150k and we got it for 138k!

[Corkfish]

It's funny how subsequent generations can't learn from the mistakes of previous generations. The people who bought in 2005 completely forgot about the 1980s real estate bubble and the people who bought in 2021 and 2022 forgot about 2008.

[J_M]

I’m so sick of hearing crash! Crash! Crash! It’s not crashing. It’s coming back to reality and not these fake set prices by greedy real estate agents and Zillow

[DoomFinger]

Crashes and inflation are never good or bad, it just depends on which side of the fence you are on. Crashes are good for buyers while inflation is good for sellers. This 'housing crash' is not a crash. It is prices returning to normal. Just like businesses are falsely reporting recorded increases in sales only because the year before they had record decreases in sales from the lockdown.

[ivtycdi]

Houses here are still strongly priced and inventory is still low. Prices aren’t going down that much. I think there are lots of influencers with wishful thinking and trying to persuade us that the market is in trouble. Not all markets are the same. And usually if rates drop- prices rise 🤔

[annabells]

i sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meanwhile, I've been looking at stocks as an alt., any idea if it's a good time to buy?
I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?

[stillwaitingonmymatchwithj]

“What’s up Graham, it’s guys here.”


I see you.

[sanskarneupane]

Graham is going down head first into the clickbait bandwagon. Sad to see an informative YouTuber running out of content and milking the algorithm. Please just make reaction videos in your other channel if you don't have anything concrete to post. His posts are like there is a great depression every other day