The California Housing Market is Overpriced

The California Housing Market continues to remain strong even in the face of rising inflation, rising interest rates, rising inventory and Housing Crash talk on the daily. Why is the Housing Market in California not crashing? What's happening in Orange County, California? Will we see house prices continue decline to more affordable levels?

🎙- The Educated Home Buyer Podcast -

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Jeb Smith (huntington beach Realtor/orange county real estate)
DRE 01407449
Coldwell Banker Realty

#California #HousingMarket #RealEstate

[Prahphet]

Thank you for this information, I've been speaking with agents advising I can't get anywhere near my asking price for two homes I'm selling in South L.A. I have a better idea of things now. Redfin est. $520-$650k, we wanted to ask $650 coming down from $700k for both. I guess we'll see what happens.

[bobsibert]

Interest rate will probably go to 10%, anyone is nuts to think this won't F the market! Get ready for a big crashola!

[uginel]

not a good time to buy. interest, inflation is so high, no buyers no business with the agents

[CaptainHookhatesBooks]

Buy now or buy higher....prices will not crash. Big corporate will keep buying and push prices up.

[ArmArmy]

Don’t trust real estate agents in this market or any other market. It’s never a bad time to buy. Never. That’s what they’ll always tell you.

[smg]

I am an economist specializing in country and real estate economics which means i deal with home data science every day and get paid because I am really good at it.I will tell you this guy is probably the biggest b/s’er who speaks and provides untested logic and data that he himself makes sense as per his wish.If anybody listens to this I can say god bless you bcuz you will lose.

[ilovemykdc]

Just got my offered accepted. home price was 375k. was on the market for 4 days. i offered 348k & it got accepted. Very happy that i can afford a “low payment” i feel comfortable with at a high interest rate of 5.6apr. In a few years if rates go down i can only be happier with a lower payment! Also i bought in Roseville CA, where prices average 650k

[stevesuperfly]

The bay is still popping. A little dip. But I'm cashing out.

[RapticGaming]

Bought my house last month, joint loan with my brother 650k duplex.

[lampkin]

My question is who are going to stay in these homes? Only 13% of folks in my area can afford these homes, big companies have brought a majority of new homes to rent. Rent has gone up 200% in almost two years, that about 4700 to rent.

[darlenedevegan]

Some YouTubers are causing a big ruckus saying that there's so much inventory house prices are coming down and crashing rental properties prices are crashing and all this doomsday stuff. I agree with you. I live here in Southern California in Riverside county and the rents keep going up. I have seen home prices come down a bit though.

[ViewerC]

East bay area and seeing price cuts from 50-100k

[michaelandrew]

Under appreciated reality even amongst "experts" is that a 10-25% reduction in price begins a cascade in other fundamentals of economies, mainly, jobs. When that much of a swing occurs everything tightens up, people stop spending, business stop hiring and a combination of factors lead to many situations that are not present today. Foreclosures, forced sales, increased inventory. Its not rocket science, if people don't have jobs they wont be able to pay their mortgages. Jobs are also a bubble, and that bubble is what actually made the Great Recession as bad as it was, even if the toxic loans are what started it.

[Kronk-rpjf]

I haven't seen anyone call for crashes that high, most people are saying 10 to 25 percent which is nothing compared to the rocket of the last 2 years.

[cisko]

Another realtor detached from reality!!

[danielalonzo]

You definitely right about the crash but prices have gone up 200k to 300k usd in my area in the last 2 years. Average working families cannot afford 5k to 7k dollar monthly mortgages for average homes

[ricdynasty]

He’s right.

My area of California isn’t seeing any meaningful reduction in home prices. The market is still grossly overpriced.

It has become a very niche market for buyers with cash. First time homebuyers have been completely removed from the market.

[OceansideCreations]

The housing market will run out of steam.. we are seeing it happen now. Rates have reduced affordability and people are priced out left and right.

[bobsibert]

Lol, listen to the pros vs these two bit know nothing agents, prices will crash, be patient~

[paytonpeta]

5:20 For people who are waiting for the housing market to continue to drop. If they don't have the income to buy with current prices what other option do they have? All they can do is wait and save.