DRAMATIC 50% PRICE CUTS IN CALIFORNIA! MAJOR HOUSING CRASH

In downtown San Francisco you can buy real estate for up to 20% cheaper or more and some cases then it cost back in 2019. I don't know about you but when you account for inflation that is a massive housing crash of around 40% drop in Real home values. People who said home prices would never go down, clearly were very wrong. This housing market is shifting more towards buyers every single day.

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[nicolasbenson]

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.

[leondonald]

To my own research In 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.

[dougm]

I've always dreamed of living in a luxury, collapsing penthouse. lol

[BridgetMiller-]

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.

[Batboy_idiot]

Imagine your million dollar condo, and when you set a pen down it rolls off the table because you bought a leaning house from a Dr Seuss story 🙃

[stevenwistort]

Im still living in the country in a nice 25k mobile home. Paid off, land rent $350/month.. Im living cheaper than alot of 3rd world countries in the Usa. Exercise alot, ride motorcycles, read the bible and studies, and listen to the doom and glomers on youtube. Theres a will, theres a way. I refuse to be a slave to the system. Enjoy life you all.🙋

[sligoisthesauce]

I used to go to that city all the time. From your video foot traffic is down AT LEAST 90%. At least.

[chairun]

Houses are overpriced in our country in general so let them tank. People think a tiny piece of land with some wood on it should be worth a million bucks.

[ediruzza]

It's very saddening to see what has happened to San Fran. One of my favorite go-to places for me and my wife. Now we stay as far away as possible. Sigh....

[Christinastatler]

Your videos give me life every single day. Being SO GASLIT by every real estate agent acting like the houses are actually worth double (or triple) their value of 2019.

Your videos are literally saving my mental health because everyone around me is acting like these houses are worth their asking prices- despite them sitting and sitting on the market

[steve]

Worked in downtown San Francisco for 12 years back in the 80's and 90's. The streets you are walking through now look like an end of the world movie compared to those days. Still a lot more price drops to come I think.

[Frankweily]

If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.

[edcotterjr]

@9:30 the Embarcadero behind you is almost all vacant retail. Used to be fully leased.

[WoodMntSeaBear]

Over here in Oregon. I just learned that there's been over 5, 000 evictions for low income housing. In the last few years.

[lindaknox]

Even if someone gave me a condo in Millennium Tower, I wouldn't take it, let alone walk anywhere near it.

[billv]

Brave man walking around SF without looking down once!😂😂😂

[marblox]

I wish all real estate including my own would drop 50% . Same with cars. Life in the U.S. is too unstable due to devaluation of the currency.

[paintball]

They know how to fix Millenium tower… they are fighting over whose responsible and who pays what because it won’t be cheap

[timballenger]

Ok, I'll bite. $600k for a tilting tower of doom, windows falling out and homeless population around the corner. What are the downsides?

[Paetaor]

Went to San Francisco in the late 90s for business.
It was a nice place and probably my favourite California city.
Sad to see how far it has fallen.