Not a Crash: I See Signs the Housing Bubble Is Cracking

Today we dive into the housing market's current state, highlighting key issues such as rising foreclosures, escalating property taxes, and increasing home insurance costs. While the real estate market isn't experiencing the dramatic housing market crash many have anticipated, I reveal the subtle cracks beginning to form, indicating potential vulnerabilities. Through detailed analysis and up-to-date data, I provide a comprehensive look at how these factors are impacting homeowners and what they might mean for the future of the real estate market. Watch this video to learn, what these signs mean, and understand we should be careful, not scared, during these uncertain times.

For A Collaboration Video For Your Affordable Housing Option Or Comp.
Join this channel to get access to perks:

📭To Send Mail:
Kristina Smallhorn
PO BOX 1271
Prairieville LA 70769
#realestatemarket #housingcrisis #KristinaSmallhorn

eXp Realty LLC,2900 Westfork Dr. Suite 401, Baton Rouge LA 70817
225-246-1812,Office [phone] ext# 149
Kristina Smallhorn is a licensed REALTOR® with the state of Louisiana, License number 0912122918
Disclaimer:

[LoughBellis]

In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[gingerkilkus]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[Aarrenrhonda]

In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[RotobugAport]

I won't hold my breath after the last crash (2008) where banks were protected and regular folks lost everything. In my area a fixer POS house is more that $400k, pre-pandemic would have sold for 60 to 80k land value. These prices are crazy!

[chrischapman]

With the increase in property taxes I certainly haven’t seen improvements in city streets or services. Where is all the extra money going?

[chrisniner]

I built a small offgrid home in 1997. When 2007 unfolded i didnt owe anyone a dime. I still dont.

[redgirl]

I truly enjoy your videos! I've noticed the same red flags. Something needs to change quickly. No one can afford to buy a home and no one can afford the price of rent.

[courtneynicholson]

Kristina thank-you for "caring for the middle-class/poor" who can end up in a worse scenario!!!

[JULYXXIV]

I made 6 figures (barely over) for the first time ever and I feel like the goalpost keeps moving out of reach for me. I don't have any kids and I live in the Kansas City area - a lower-than-average cost of living compared to other areas of the U.S., but good lord, houses here have doubled, even TRIPLED in price since 2013. I feel sick to my stomach! What's even crazier is that a home will sell, but will re-appear on Zillow a short time later as a rental. Speaking of, don't get me started on rent...

[awakesiren]

I work for a company in Alabama that works for the banks to see the conditions of foreclosure and pre foreclosure houses. We have so many jobs, If my car would take it, I could do over 100 a day and my company would still have plenty more for all the employees.

[heididodge]

Personally, I did point out to a realtor friend before the last crash "how can house prices just keep rising like this" and he said "house prices never fall". I didn't predict a fall, but it seemed impossible for the rise to keep going. I remember prices going up fast before the last fall, so I see it coming, even with lack of housing.

[skiffman]

Been in the industry for 20+ years and this is one of the best summaries I have seen across YouTube.

[Amanda-xxsj]

There needs to be a national cap on property taxes for yearly increases. It’s unreasonable to think average homeowners can keep up because a transplant with a higher budget bought in their neighborhood.

I think rent caps should be wrapped into this kind of bill proposal too. But neither party will do this.

[anthonytripp]

Some people see the glass as half full
Some people see the glass as half empty
I see the glass as half broken

[triggered]

The fact that people can literally get taxed out of their homes is so gd despicable to me. A tax is an imposition by the government and doesn’t even have a thing to do with the fair market share of a commodity, yet they can decide to take more of your money or even force you out of your home completely to get the money you “owe” because the property is more valuable than it was when you bought it. Absolutely sickening.

[Joce]

We "unfinished" our basement. We took all.of the ceiling tiles out.. Removed the sheetrock from the walls. We left the vertical 2x4s that optically divide the bedroom, office and bathroom spaces. We can use curtains. Our taxes dropped 10% while our neighbor's taxes went up 10%. It is not a big deal to us to have nice bright painted walls with lovely curtains in the basement

[MichaelSmith-cqzk]

Mine went up a extra 250 on the month, and like you said I had to come up with 1, 500 to bring escrow up to date, true my house values went up from 150 to 240 thousand, but if you sell the average rent is 1200 and more for a place to live and that is not always in a good area, so your forced to struggle to stay in your home or be homeless, thout about selling and buying a camper with the Gaines and say the hell with it . I put alot in my home to be taxed out of it .

[shannondavis]

30 year fixed rate mortgages is not fixed because property taxes & home insurance premiums aren’t fixed….They ALWAYS GO

[joytotheworld]

You're right again. I see it coming. I lost my house to foreclosure in 2008 bad loan. I was fortunate to get money in 2013 & bought a tiny cottage. I'm scared for people.

[Jordan-ztky]

Keep our elderly in mind, I was talking to a older man the other day who told me a one bedroom in a retirement home is around 8, 000 in Chicagoland. It's heartbreaking. And let's be honest, these places are small and not nice.