Buyers Getting SQUEEZED OUT Are Calling it QUITS!

I came across a very surprising article from the Florida Realtor association today basically telling homebuyer its OK to give it a rest! Why is this important? Because it means, even the Realtor Association thinks that there will be more opportunities to buy homes in the future and you don't have to sacrifice everything in your life to make it happen today. So many buyers in this housing market have jumped through massive hoops to get a home and those days are over. Next step, prepare and wait for a better deal.

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[MichaelBrown-nyet]

I started dreaming of moving home right after my Mom died of cancer in 2012. I just return from a tour in Iraq as a Army Blackhawk helicopter pilot and lived in Dallas Georgia. I divorced in 2015 and then retired after almost 29 years in the Army in November of 2016. The summer of 2019 I started to look in Sewalls Point and prices were reasonable. I passed on a couple of properties because one of the realtors had a problem with VA loans. I paid off all debt, credit cards, and totally changed my behavior with money. I sold my dream car, (C7 Z06 Corvette), and townhome. Then the lockdowns started. I was outbid by cash buyers on every listing. I’ve endured this for two years now. Everyday is demoralizing for me and suddenly for the first time that I can’t buy a home. I know my only choice is to wait but I’m on year 3 with no house. It might be 3-5 more years before the market is friendly enough to even have a chance in my area of choice. So for those of you who can’t buy, I’m right there with you all the way. I wish all of you the best of luck.

[sholland]

Some of us refuse to be taken advantage of by these super overinflated prices, doubling in two years. No thanks.

[Matthew-rpjf]

I quit looking 8 months ago. It's been impossible. My mental health is definitely better. The only people who can afford homes now are mostly the upper middle class

[inauzn]

Bought our house in June 2021. Moved to Florida Clearwater area last year in September and now moving back to Washington State because of a job! Unfortunately Florida sucks with lots of low paying jobs compared to Washington. My husband worked for the government almost 10 years experience and you get paid nothing here just to pay your mortgage and bills/food that’s it it’s sad! In Washington state you get paid almost doubled and with benefits vacation and everything else. We had brand new house there in Washington and we paid way less bills including car insurance. Florida cost of living is more expensive but the pay don’t keep up with the cost of living!

[jonimitchell]

Be realistic!! I knew I couldn’t afford Seattle or Bellevue. I moved to Kentucky and I was able to buy a darling house. Totally 💯 affordable and completely sufficient for my wants and needs. Think outside the box folks and don’t be so dang picky. Affordable shelter is a

[willlywillly]

I trust you more than Dave Ramsey 7 days a week and twice on Sundays.

[azmike]

When you said, "Avoid additional expenses"...I thought you were going to add..."such as buying a car like this white Ferrari here"... (at 3:25). As a car guy, I'm always amazed at the array of luxury cars you pass.

[AZ-]

I left California for Texas. Even with inflation the same products/brands are still cheaper in Texas than what I was paying pre-inflation in California. Still waiting for the housing prices to come down to buy.

[donnab]

Zillow says 30% increase for 2023 for Orlando. WTF? Why? Full of crime. My parents live Ventura Country Club and it's nice but seriously? Not that great.

[Corkfish]

I'd rather rent than buy some of the ridiculous properties out there. I can afford to pay cash for a house, but I'd be embarrassed to admit I paid so much for such a piece of junk.

[kurdik]

I cut so much recently. No car, dine outside no more than once a week, groceries? buying based on the alternating deals. Saving every single penny I can. High income doesn't mean spend it relentlessly. No. Save up for the upcoming real deals.

[mstyles]

We bought in October 2020 in Naples and are buying again and will close in 8/2022 (again in Naples) we will then sell the house we bought in 2020. This has all been a nightmare. We had a super low rate in 2020, now they are almost double what we got then. Sadly we have to move so we don't really have much choice. We know we are buying in an overpriced market and we have walked from negations 2x in the past 10 days. The agents are so desperate to get the deal they are willing to shell out tens of thousands to make up costs since we are not budging and the investors are being ultra greedy. It's total sh*t and it makes you see how sh*tty some people really are (not our realtors/brokers, they have been friggin awesome). We will ride it out for another 30 days, the investors have no other offers, no one shows up at the open houses and they already dropped in 100k (it was 200k overpriced) our broker just told us to sit tight and wait for the next inevitable price drop. And for the record we plan on selling our home for what we feel it is worth not some overpriced greedy nonsense number. We hope a nice family can enjoy it.

[arnoldgibbs]

Michael,
You hit the nail on the head describing the NY market. Same thing for Bucks County PA because of its proximity to both NYC and PHL.
There is a lot of commercial activity along the Boston to DC I 95 corridor.
The winters in Philly are not real harsh like you might think. We have the Gulf Stream to our east to buffer the climate and the mountains to our west that temper the climate. NOAA refers to this area sub tropical.
For what it is worth Miami is not easy to grow a buzz. I could on average make a 100 new business calls in NYC, NJ, PHILA., WILMINGTON, ETC. and make a thousand calls from Dade to PBC and maybe get one or two. So if you get discouraged sometimes it could be your environment.

[jfausset]

17:00 YESSS!!!! We need moratoriums on foreign investors. We need it because we are “under supplied”, right?!

[ShalomShalom-dc]

Thing is, prices are never going to go down to 2008 prices bc there are TOO MANY people on the side lines waiting to buy, & its going to drive the price back up. Also, VAs can buy anytime bc their int rates are so low. Only way prices will go down is if there's a HUGE waive of foreclosures which means a big sector of the middle class will have lost their jobs. Whats diff about 2008 & now, is everyone knows homes values will come back up. That & 2 generations grew up since then, So theres 5X the amount of people who want to buy! There's not enuf homes.

[davidlee]

Great segment again. Thank you for helping so many people.
I'm a humble renter but I am debt free and have been saving for several years. I don't need or want a big home; a smaller place (no more that 1, 300 sq. ft.) will do just fine.

I live in the SF Bay Area and hope to be out of here no later than next summer or fall. The housing situation makes moving to Montana or Wyoming look better every day 😉.
Take care and keep the great work going ✌.

[Shuguiis]

Yes I wanna move to Orlando please Florida lower your price’s

[jeffreymassey]

How bout the builders start building starter and affordable homes for "Young" FIRST TIME home buyers. Like they did for the veterans after WWII.

[adventurebabyboomer]

65% of American companies are not profitable (start-ups, speculative, venture capital funds). This number shocked me. It illustrates how much of the economy is supported by debt. Good old debt.

[danielghoganjr]

Historically interest rates are still super low. The last decade (10 year period) they were this low was in the fifties. Who knows what will happen, but I'm not convinced interest rates will stay this low for a long time. I hope I am wrong.