Real estate expert says he's never seen a housing market like this

Howard Hughes Holdings CEO David O'Reilly discusses Biden's proposed tax credit for first-time homebuyers on 'The Big Money Show.' #foxbusiness #bigmoneyshow

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[Patriciabanks]

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.

[Richardcarlett]

Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.

[Riggsnic_co]

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

[MegatPage]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[jerrycampbell-utyf]

I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

[jameswood]

fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.

[earthresident]

This is a joke just like the resident !!!!

[johnsmith-envg]

400 billion dollars for student loan forgiveness, now how many billion dollars for the 1st home buyers? The national debt is rocketing to the moon, the inflation is going out of the roof...

[akavaliyfree-man]

We need houses to be affordable we don’t need $400 we don’t need $10, 000 We need inexpensive houses. I refuse to be a slave to the system and cooperations.

[jrculbertson]

Our Country has CONSISTENTLY SCREWED single people AND SENIORS FOR DECADES 😢👎😡. FJB!

[jvolstad]

Where is the money coming from for this tax credit?

[nakinney]

Politicians are idiots! Houses would just get $10, 000 more expensive over night if they were t give out $10, 000 to home buyers. Fix the supply issue!

[johnlerner]

<--FJB!--< If he's Competent Charge Him for Insurrection!
If he's Incompetent, Impeach him and Charge him for Treason!

[yahstreasureclasses]

He’s not helping poor Americans people

[laurielaurie]

FJB!!! INVEST IN A NEW PRESIDENT AND YOU WILL COME OUT WAY AHEAD👍

[PeterGoyer]

Who is paying for this? Taxpayers who cannot afford a house.

[randywebb]

Affordable my young married couple has no chance if they are a blue collar worker. 250k 1100 sq.ft. home. Even mobile homes are WAY to expensive at over 100k for a single wide thats going to fall apart in 10 year's.

[MikeStan-zptn]

Investing has been rather rewarding to me and I've learned that getting a good roi is very much attainable if you know your way around it.

[charlespiper]

This administration is getting more desperate!

[johnben]

There's a huge reset of wealth right now, commercial real estate is down at least 30% same with the stock market, high tech with huge multiple variations are down more than 40%. So is this a good sign to buy stocks, or do I just hold cash? I own a house already