ZILLOW: 80% FORCED SELLING | Housing Market Update

Zillow 80% Forced Selling

ZILLOW: 80% FORCED SELLING | Housing Market Update

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0:00 - Intro
1:39 - Sellers Lose Upper Hand
4:42 - What Happens Next
6:55 - July Home Values
9:55 - Buyer and Seller Markets
10:37 - Rents
11:51 - Bifurcated Markets
13:25 - Listing Prices
15:47 - Running Comps on Zillow
Data Source:
#HousingMarket #HousingMarketCrash #MortgageRates
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[Elizabethwells-qf]

It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.

[Mattysail]

It is way beyond time to clean house!! Corruption is destroying our nation !

[THEMARK]

Zillow has been a big part of the price manipulation with their "Zestimate" in the first place.

[ieuqcqz]

It’s not the interest rate, IT IS THE OVER PRICED House

[gregorylyon]

The cost of property taxes and insurance premiums are killing people's finances

[starsapphirelee]

I can't think about anything else since the property tax fraud scandal came out...

[ajaychandrareddi]

Interest rates are not the issue. The real problem is the asking price. Prices need to return to 2021 levels, which would require a 40% to 50% reduction.

[tandylynnennis]

I'm not paying 1/4-1/2 a million for a house house that cost less than 100k to build

[annscott]

I want to sell but I’m not still not seeing any affordability replacement. It’s ridiculous!! Asking $185K for a 60 year old home that still needs work big time plus roof & HVAC., plumbing, electrical, etc. It’s crazy !!

[MrSlicky]

If you take the time to look back at the prices of the homes they have gone up by 100 to 200%.
And that all happened within the last two years. No upgrades, no improvements, and no upkeep on the properties but they somehow gained all that value 🤦🏼‍♂️
This is plain and simple greed.

[mariwynne]

This is so real! We sold our home on August 6th after being on the market since the beginning of April. We had a 2.9% mortgage and we ended up cutting 40k from our initial asking price, which was marked “right “ according to Zillow. We had a major life event, my husband was out of a job for 8 months in 2023 and his new job required us to move this summer. Renting our home was not an option, we had to sell it. So we were forced to cut the price in order to sell it. We decided not to buy a home right now since mortgage payment would be over $1000 more a month than renting.
I’ve been watching your channel since before listing our home and it was really helpful to know the market trends. Keep up the great work!

[EnufAlrdy]

I bought in early 2022. Brand new, custom home on 3.25 acres (half dense woods, Pine/Oak) no HOA, independent local builder and put down 55%. I locked in at 3% and my PITI is less than $700 a month. I'm not going anywhere and I'm paying this off asap! I have no other debt and no longer want to have anything to do with debt of any kind!

[Jpepperguy]

Rates not only need to drop but the price of homes is ridiculously high and they need to drop as well back to normal levels.

[Angiebobangie]

I see people take houses off and relist all the time, just so it doesn't look like it's been sitting for months.

[DoubleOhSilver]

They almost always exclude other costs (tax and insurance) when talking about payments. Disingenuous for sure

[CarandRecoveryCAR]

Car prices are the same, a Hyundai Ioniq 5 "battery" car new is £65, 000.00 pounds, i wouldn't pay £20, 000 pounds for it, we are in a state of hypernormalisation, the exact same thing happened when the Soviet union collapsed, the price of food is the same, there is a local guy from Northern Ireland that is out in Thailand, he goes into the local 7-11 with £1.00 and comes out with a bottle of water, a chocolate bar, a bag of potatoe chips, a packet of noodles, a packet of sweets and maybe 1 other item. Its not just that our prices are too high, our moneys purchasing power is dead and wages dont match, we are being lied to plain and simple.

[enthused]

My neighbor just listed their house here in Melbourne area of FL, 2 miles from the beach. They paid $230k in 2022. Listed it for $305, 000. It was comping for about $300, 000 last year before inventory went up 10X. I'd be surprised if they get what they paid, seeing as how price cuts are in the thousands and mortgage demand is literally the lowest ever in US history. It was a $125, 000 home in 2019 built in 1979. Side note, homeowner's insurance on that home in 2020 was $1, 200 a year. It's $3, 800 a year today.

[zache]

Ill be lucky if our family of 4 can afford to live out of our car in a free parking lot. Food is getting that bad lately

[Stuntfish]

I sold my house because of a divorce. It was at a 2.25 rate. In order to get my EX off the mortgage, the lender was going to force me to refi to 8ish. So I sold financially it made way more since for me. I'm saving money by renting currently.

Btw sold in june.

[huntncover]

Something appears to be terribly wrong in the world right now, but people are saying " Business as usual " ? What an unbelievable false sense of security . Humble Pie, the flavor of the Last Days, incoming .