The NEW Housing Crisis: Americans Are STRUGGLING To Hold On

The Housing Market Is STRUGGLING as Homeowners and Renters are having trouble making their mortgage payments. Due to rising costs like rising interest rates, insurance costs and HOA Fees, homebuyers are seeing a HUGE increase in their mortgage payments. In this video, we talk about why Americans are Struggling along with the solution for struggling homeowners.

HOME BUYER RESOURCES:

Connect with me 👇
Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Real Broker

#housingmarket #firsttimehomebuyer #realestate

[heyevanletsgo]

I closed on my house December 2022 and I still like watching all your videos

[jamesosteen]

Insurance and Tax increases here in Texas have been insane...it's definitely contributing to people struggling with their payments.

[krassimirpetrov]

My housing is only unaffordable because my insurance has gone up 30% this year and 26% for renewal next year…and no I’m not in FL this is inland NC, no claims

[kylefordinvest]

Definitely an important topic to discuss—thanks for breaking it down and offering potential solutions!

[edwgarv]

I don't know what to do if wait or keep looking for a house?...so complicated!

[realTLC]

The increase in insurance has been crushing 😢

[KamiKomplex]

I feel like I'm right on that line and it made me realize something. The number one thing that I could do with my money to improve my life is to save it, financial stress isn't worth most purchases. Also made a mistake leasing a car, ok deal but it hasn't given me the value to justify it. Would rather bike 😅. Anyways hope everyone is staying afloat.

[FinestOfTheSouth]

Scheduled to close on my first home at the end of this month. Had been renting a 600 sq. ft. apartment for $1800. New home is a little over 1800 sq. ft. and my mortgage is estimated to be about $2, 100 a month taxes and insurance included. Just got homeowners insurance for $731/yr. I feel really good about it. My housing expenses with the new mortgage will still be about 21% of my net income.

[dixielandproductionco.]

Listing from Minnesota thanks for the notification smashed the thumbs up 👍 good stuff

[MONEYM]

Man these realtors lied their asses off and people fell for it. Whew...!

[BendingPinkSteel]

My wife and i got a steal of a starter home in '21. Under $900 mo payment. Now that were looking to upgrade, it seems like the best option is just to add on to this house. Its not ideal, but the other optons seems wildly expensive.

[swagic]

Hey Jeb....new subscriber here and thanks for the excellent content. I have a question for you. I am 62 and retired due to a disability so no longer working. I have been renting for the last 7 years I in Austin TX. I did very well in stock market and to my surprise, Austin is the number one city in country with biggest decrease in home prices as you know. I can afford to buy a $400, 000 cash and will still have $300, 000 left in bank for emergencies. I also can do a reverse mortgage if ever needed as I do not have children so not concerned about leaving debt to anyone. Do you think it makes sense to buy a home at this stage in my life especially in Austin TX where I have seen homes drop 25% over past 2 years. This is such a difficult and confusing decision for me so any advice would be appreciated. I should also mention I am a veteran so can get a VA loan with zero down. Does it maker sense to keep the cash for investing and take out a VA loan? Thanks again for any suggestions. You really have a great channel with excellent content. 👍

[lasandra]

Closed on my house July 30, 2024. My taxes were $13, 010 per year. Got an added assessment of $5, 100 for renovations completed in 2020. Waiting to appeal, but not very hopeful. I will most likely list my house by February. This feels like a no win situation. Damned if you buy, damned if you don't.

[renelopez]

Getting approved for a loan at over 40% of your GROSS INCOME is not fiscally responsible.

24% of your GROSS income sure.

Yet, here we are with people paying for homes at inflated prices

[susievidal]

Thats why my real estate agent has had a hard time find me a house because mortage is 4k or over and im not focusing on what amount i qualify for im being realistic on what we can afford each month. I can't imagine the people buying homes paying 4k a month for a home plus all their bills and i imagine theyre just not going out and eating modestly . Wheb we did calculations we didnt even add property taxes, its too expensive here where i live and i live in a small town so im staying put until i find something that we can afford and pay 3k or below, im realistic about our budget

[KamiKomplex]

Oh also Jeb, if you are looking for video topics, I am looking for info on what to do with property if you are moving for work.

[criticalthinker]

still somehow cheerleading for housing market 😂I see people who bought their homes 2 years ago are selling with 100k to 200k loss
I can give you couple examples from Zillow, they are in Castaic and Santa Clarita California.

[aboutbusiness]

It's very easy to be house poor regardless of income based on the recent prices of homes, the upkeep and maintenance(contractors, handymen, companies charging ridiculous prices), and last but not least the growing insurance premiums and taxes since I moved in to my home 4 yrs ago.

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