BOOMERS May Crash The Housing Market

According to Redfin’s analysis of over 90 million homes in December, the national housing market is now worth $47.5 trillion, after a 5.3% increase over the last year. Even with higher interest rates and seemingly lower demand, home values are still rising. So today, we’ll take a look at 2 articles, one by Redfin titled “The U.S. Housing Market Gained $2 Trillion in Value Over the Last Year” by Lily Katz and Chen Zhao and an article by Lance Lambert for Resiclub titled “Freddie Mac: The Silver Tsunami will be a 'gradual reduction' as 9 million boomers exit the housing market by 2035” to see how the housing market looks moving forward.

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[DKisOk]

I'm a boomer. My house is paid off. I could sell it and enjoy my last years in a retirement community, but I am keeping it for my grandson who has a little brother with down syndrome and my daughter died. So that is my final decision! The father is currently taking care of the younger one, but he might outlive his father. My motivation is Love ❤

[federated]

As the mortgage lender real estate investor for thirty eight years.. I have my finger on the pulse of the market conditions all activities current and past. Your information As if you were discussing the market during Previous market conditions.
The price of everything is absolutely unequivocally ridiculous! The amount of money in the system and the real estate investment trusts that are able to buy properties have artificially inflated the value of all assets. We've had 13 years of property value increases.Normal cycle is 6 to 8 years. We are way overdue for a market adjustment of 20 to 30 percent reduction in values. We're already seeing price reductions more inventory in less sales. This is a beginning of a major correction in the real estate market. I guarantee it and would bet my career on it.

[ChristineMeier]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[tonyhurst]

Don't blame the boomers , how about every one realize that it was an artificial market based on historically low interest rates. The minute the rate goes up people pull out of the market . Suddenly those over priced homes aren't affordable. How about realizing that the median priced home was around 400k and the median income was around 70k its simply unaffordable.

[stevenap]

Nah. It’ll be a bunch of realtors, brokers, inspectors and pretty much anyone involved with the home buying process. Given the inventory shortage there’s an incredible low transaction volume. This is by far the worst possible thing you could have happen to any market sector. No transactions=no income or less income. People default on their credit cards, car loans (like we see now) they mess up their credit and then when interest rates FINALLY come down and inventory pops up there are no qualified buyers because everyone either got laid off, is making less, or messed up their credit. Then boomers will flood the market with homes and make it even worse. No one will look at real estate the same for a LONG time.

[edwardflorence]

Exit the housing market meaning the boomers are dying.

[danielalonzo]

More than 3 million adults die every year, plus over 10 thousand people retire every day. Dead people don't take ANYTHING to the grave and many retirees move to cheaper areas or out of the country. Usually retirees own their home and sell their homes upon dying or moving to cheaper places

[olanderdecastro]

The title of this video might really be true and not just Clickbait! As a young boomer born in 1960, I know that most of the valuable real estate is held by people my age and older. Who exactly are we going to sell it to if we don’t sell it right now to another boomer or older Gen Xer? If, and when we do sell our real estate, it’s going to have to be at a much lower price than we are seeing right now. And there is no getting around that.

[elizabethmccommons]

FANNIE MAY is sitting on 100''s of millions in foreclosures. Never before in history have they done this. . Sure it helps people stay in a home but it also stops new first time buyer from joining the homeowners market. Will be interesting to see how long they xan carrying it.

[antoniobrown]

Until the sticky parts of CPI drops rates will not drop. The fed wants to reduce housing costs and will keep rates higher rather than risk cutting rates to early. This will lead to the anticipated recession and higher unemployment. Also the reduction in rates by the fed does not immediately effect the economy.

[james]

Why would you sell a house with a 3% mortgage and pick up an overpriced home with a 7% mortgage? What kind of sense does that make? The housing market will crash when unemployment skyrockets and not before. That's what drives home prices - jobs. And the recession is still coming.

[Jack-Surreal_Panes]

The vast majority of homes I cleaned, new construction, were bought by folk older than me so well over 55. They buy these overpriced, oversized homes in their 60s. They know they got maybe a decade left. 1 person on title means the other can walk away debt free. Usually the guy buys and dies. Banks don't see a 60ish person buying a home is a risk. Like any one of them will see the 30th year.

[nohopeequalsnofear]

If mortgage rates go down, prices will go up to absorb the difference....lowering rates does nothing to make homes more affordable.

I can see an obvious trap has been laid for speculatets and average Americans in main street.

This what a pump & dump looks like. This is what a massive bubble looks like. I've seen this before in 2000, 2007, and now 2024.

[Tito-ffgb]

These realtors really make me laugh. Buy buy right!!

[vaughnpeterson]

More “multi-family” homes are being built. Not single family. Big difference.

[ophidiaparaclete]

Shortage of homes shouldn't matter to a consumer that sees the comprehensive attacks being made

[powerequalsgod]

The number of homes from Harvard University is 144 million not the numbers mention in the video.

[DT-dvwf]

No as boomers go boom, foreign entities will get first crack at it, look at all the new wonderful citizens..

[JohnJohnCrusher]

Nice video! Here's a comment to help the algorithm! Cheers!

[mrxiong]

No, they won't. Their house(s) are being passed down to their poor kids and grandkids.