My Thoughts On What's WRONG With The Housing Market

Are you basing your real estate decisions on sensational Housing Market headlines and YouTube crash predictions? In this video, I uncover why most of that information is misleading and why focusing on your local market is crucial. Don’t let fear-based media cost you the opportunity to buy a home. Watch now to learn the real factors that matter in today's housing market and make informed decisions tailored to your unique situation

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

#housingmarket #firsttimehomebuyer #realestate

[JB.]

House prices had rises 50% just in the last 3 years. Huge bubble . Pop pop.

[discreteentropy]

Great vid, and just subbed. And bang on here. In my local market (Vegas/Henderson) supply of single family homes is down 40% yoy and not even close to pre-covid levels. Builders in this area still have ptsd from the Great Recession (we were ground zero for the housing crash) and never picked up building to needed levels. This has made the shortage even worse here in southern Nevada.

[ViolinIliev]

If you are priced out you are priced out.

[proudliberal-svwo]

Great advice. I bought my current home in 2008. I was told by many people not to buy then. Since then, it has doubled in value. I was also told to unload my rental property in 2008. Since then, it has doubled in value. We bought, because we needed a place to live and we met all of the qualifying financial requirements like sufficient down payment, affordable mortgage, tax, utilities and insurance, and we also planned to stay for a long time (at least 7 years) in one location.

[alexs]

We've been on a bull run in RE essentially since 2012 which makes us 12 years. Before that the last two RE bull cycles were about 10-11 years give or take. We're already seeing softer earnings from magnificent 7, and if fed rate cuts in sept, it's almost certain a recession will soon ensue after which can quickly spike unemployment -> more foreclosures. Timing market is difficult but it's pretty hard to say right now is a great time to buy.

[_pewpew]

Buy if you found a house you like and able to afford the payments. After that, stop following real estate and live your life.

[LisaTonakanyan]

Our housing market in Redlands CA still has no inventory, almost no new construction and the prices are sky high, which leads to way high taxes, plus mortgage rates. A small house of 850 sq ft can be priced as high as $600k, which means we need to put down around $120-130k and still pay $4000+ monthly! This is way too much! Especially with no wage raise and inflation rates. So, yes, we are sitting and waiting for changes.

[Chew]

People sitting on the sidelines expecting a crash in prices are going to be waiting a long time. The only crash we are seeing is the buying power of the U.S. Dollar.

[juanrestrepo]

Agreed - But yes not until Mortgage rates drop below 5%

[armandoflores]

Mortgage rates is the reason why mostly.

[AlanOnWheels]

Definitely some merit to this but also consider larger macro events, election year, closures, less jobs, wages not increasing, sadly Biden ruined this country over the last 4 years and handled the economics very poorly forcing higher interest rates to bring things back in line

[thesoccertrotter]

When sales are down and nobody buys real estate, realtors panic and say anything at any cost to get you to buy a house. It's still the worst time to buy in our lifetimes

[walkingjustice]

This is very true, am in mn and waiting for the interest rates to drop but prices are high too

[Jackson-qirw]

A single piece of legislation could change the entire housing market. So there is no point in listening to anyone

[ThisHourRadio]

Don’t expect a crash, but do expect to price drops, which are already happening. A lot of data ignores the fact that salaries have not increased to the same degree and so there will be many priced out buyers and fewer first time home buyers. If people cant buy, you can’t sell. Home buyers are over the inflated prices set by sellers and desperate buyers. Normal people don’t offer 50-100k above ask. This is like when covid happened and people went nuts for toilet paper. New constructions are also seeing significant price cuts. But this definitely depends on location and area etc as well i agree

[AthensRealEstatePro]

Jeb, I simply loved this video. You are 100% right.
I would like to know what I need to do to be in your referral list of agents. I am in Athens, GA where I've lived for the past 25 years and believe I have a lot to offer when it comes to our local market. Thank you.

[JesusHernandez-fzcg]

Jeb, thank you for your video. I appreciate your point that real estate is local. I believe that here is South Texas right at the border prices are pretty affordable compared to most of the U.S. Hey, I have a question for you. Do you think home prices will sky rocket again as soon as the Fed cuts? I’ll go first! I believe that the Fed will do one small rate cut this year (25 basis points) and will have little effect on the market. I would to hear what you think! We are thinking of makes a move on buying our dream home. Ideally, December will be the right time for us to avoid PMI but we are frightful that a rate cut before then might have prices explode on our faces. Thanks man!

[Sky.guy]

The 80s were practically similar. High inflation, low inventory. Except the income to house price ratio was better then. If you factor in that they had a peak of 18% vs 7% now, it’s very similar ratio.

[LeahLewis-nyiu]

I'm looking forward to a potential housing crisis to make affordable purchases when I sell some properties in 2025. Additionally, I'm considering investing in stocks as a backup plan. Any suggestions on the optimal timing for making these investments? I've been noticing significant trading earnings, but there are concerns about the market being unstable and going through a dead cat bounce. Could you shed some light on why this market phenomenon occurs?

[holleybrown]

We are waiting for rates to drop we are renting the home we are wanting to buy with a contract on a price but until rates are 5% we can't buy due to not wanting to be house poor.