The Biggest Mortgage Collapse since 2008 just got worse.

Mortgage demand on the US Housing Market continues to plummet. With data from the Mortgage Bankers Association reporting that mortgage applications to buy a house are down 15% YoY. And are now resting at their lowest level since 1995.

This is making life very difficult for realtors and mortgage brokers. Who rely on mortgage issuance to drive home sales and fees. Big real estate companies such as Zillow and Redfin are also struggling due this lower home sale and mortgage origination environment.

Which makes sense. Mortgage rates are now over 7% again. And home prices are still resting at near their highest level on record. So homebuyers are priced out of the market.
---

DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Reventure Consulting or Nicholas Gerli are registered financial advisors. Your use of Reventure Consulting's YouTube channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, YouTube, E-Mail, and Instagram) for communications with Reventure Consulting does not establish a formal business relationship.

[ReventureConsulting]

That was fun. Will do more live streams in future if you guys want it.

If I missed your city, leave a request below.

[dianesullivan]

I bought a house in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.

[nickorozco]

It’s not that people don’t want to buy a house, it’s they can’t afford to buy a house with these prices and interest rates are too high.

[carlrichter]

House prices need to come down another 85% to be anywhere near affordable. If the average house requires a 6 figure income, it eliminates 80% of the buying market.

[nickorozco]

When real estate agents call and come in my office for a personal loan 😂 I know the economy is starting to crack. Reminds me of 2008 2009 all over again.

[deborahcalvert]

Sellers are in denial. They think the "HUGE PRICE JUMPS & HOUSING BOOM" Is still going on, but Buyers are finally saying, "No". I am not going to buy a house with the seller taking their Equity & Mine. Not Happening.

[seanou]

people bought houses in 2023 for 350k and they are listing them now for 669K...

[mrxiong]

Mortgage applications is declining but still no housing crash. People are not going into foreclosures yet.

[plektosgaming]

I wonder what will happen once these large hedge funds collapse and have to sell off their homes. Where I live, Las Vegas, there are over 100, 000 homes that are off market and vacant, either owned by large firms or as second/vacation homes that aren't lived in.The lack of availability is entirely manufactured and in some areas of town at night, you can see entire blocks that aren't even lit - just rows of empty homes with no lights inside. Plus tens of thousands of acres of vacant land also not listed for sale - just sitting there.

[rangercal]

When the economy crashes so will house prices. Look at all the Layoffs.

[geogriapeach]

They are building 1000's of new homes in Vegas. Where is the water?

[serene_sapphire]

Home prices may decline, however do not expect Property Taxes to go down.

[andrewreisinger]

My wife is a MLO in SoCal and has done 1 loan this year. The only sales being done are ALL CASH SALES.

[sues]

It is cheaper to rent, but even rents went up way too high. A lot of people have moved back in with parents because they can't afford rent.

[jackreston]

The average person can no longer afford the higher prices.

[EarnestMorgan-iqds]

Well explained. Thank you for bringing up this video. Financial education is indeed required for more than 70% of the society in the country as very few literate on the subject Thanks to Anni Juncina the lady you

[driz]

The economy will slow, but inflation will rage (stag-flation), making today's home prices seem like a bargain.

[r.dennison]

At least he finally admitted that he expected prices were going to go down when rates went up and surprise surprise that didn’t happen and now we’re all fu(ked because we banked on that.

[Discovery.]

I own a house and paid off long ago. I need the market crash ASAP cuz I can’t keep up with the property tax.

[faerydae]

This is so insane. Inventory is high, interest rates are high and Florida is still going up. 😡😡😡 stop buying here! Locals need a place to live too and we don’t want to rent!