THIS Is Worse Than A Housing Market Crash.

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[nathanboss]

When my wife and I went to the bank to get prequalified I was shocked at how much the bank was going to let us borrow. The monthly payments were going to be half my income. We refused to look at any properties in that price. Point because we knew it would be too tempting. Instead we bought a house for half that figure and have lived comfortably in a home we can afford.

[PremSteve-ygde]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[TheJackCain-]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[Beatricegove]

I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.

[diane.moore-]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[matturner]

I'm a single, 43-year-old father who resides in Hamburg. If everything continues to go well for me, I intend to retire at age 50. I couldn't be happier right now than I am that I just bought my first house last month. I'm so happy that I made wise choices that altered my life forever.

[SeanTalkoff]

Crash! Crash! Recession! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I into as a newbie to safely grow my money.

[micheal_mills]

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.

[oldscratch]

I don't care if my house loses value. Its not an investment. Its a place to live. If I never plan to sell then it doesn't matter what its worth.

[Bigwilli]

This is the worst housing crisis I've seen. If people don't plan well, their portfolios could take a huge hit. Real estate values are plummeting, and it's a rough time for property investors.

[SteveBoyer]

What’s crazy is we just got pre-approved for a mortgage on a new house that’d be $2000 more per month than we’re already paying, and we are already feeling quite tight with our payment as is.
I was shocked the lender approved us for that much. Why would they do that? We’d be spending about 70% of our take-home pay on the mortgage. Is that what lenders are doing now, just to get something sold? Yes I have excellent credit, but that doesn’t make me rich.

[PatamaGomutbutra]

The scariest thing of. rushing buy an overpriced house is endless fixing and renovating.

[marcusj]

The housing market has to crash for things to re-calibrate again. There is no way the 2 bedroom condo's going for 400K in my neighborhood are legit.
We need a crash NOW!

[Isaac-ueuj]

It would cost me 60%+ more in monthly payments to buy a house now versus renting. I'll rent.

[schawnettarobinson]

Most people are screwed if they get an illness and/ or loss of employment. Downfall.

[charliep]

Thanks for the video!
Having a 3-6 month emergency fund in these days, eliminating as much debt as possible, and sticking to a budget is so important these days

[elithasim]

We live near Chicago and are just moving towards the country. It’s not too far from everything and everyone and it’s so cheap to get a ton of land, large home with loads of space rather than squeezing into something tiny and living on top of each other in expensive apartments in the city. And we can transfer our jobs there.

[togatig]

What is most alarming is that inflation persists, while wages do not ascend in tandem with it

[bobbalouie]

No just cause value if your home goes down, doesn’t mean your your property taxes will go down. Your city and state will need the same or more tax revenue.

[rathelmmc]

The problem with today’s buyers is that they weren’t in the market in the early 2000s before the crash. They don’t understand that a house is a liability not an asset and that you need to make sure you can pay for everything that can come up. Housing shouldn’t go up in value, it should go down because the building becomes old.