WE DON'T WANT TO BUY YOUR HOUSES!

From April 2023 to March 2024, foreign purchases in the US housing market have gone down 36% year over year to only 54,000 units. This shows you a couple things. One this recession we are in is global. Two it also shows you that even as prices come down and inventory goes up foreigners are not gonna rush in and save the day in the US housing market.

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Articles Mentioned in the Video

#realestate #housingmarket #homeprices #housingmarketcrash

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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’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 Michael Bordenaro does not establish a formal business relationship.

[nicolasbenson]

Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.

[timr]

They raise the house prices by 75%... And now they're cutting them by 25%.. what a deal. The old hot dog string trick

[Bunnydrille]

If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.

[timothyadams]

I'm in the business and let me tell you.A lot of these new homes are built substandard compared to older homes

[commonsense]

You can't shut down the world's economy for 2 years and not expect catastrophic consequences.

[GlobalAdventurer]

What I notice during your walks, specifically this one, is the fact basically nobody is sitting outside. All stuck inside. Years ago you wouldn't have seen that. Families would sit on the porch at least.

[Robello]

The home I purchased in 2023 has appreciated by $60, 000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300, 000 in either stocks, real estate or gold.

[willia]

14:46 "Home Sellers who think their floors are paved with Gold." LOL!!!! Perfect.

[Andromeda_M]

I hope so! I am a condo owner who volunteers to manage my condo association. Foreign investors are a nightmare! They won't pay their share to maintain the common areas and expenses like insurance. They cause health hazards from their units they refuse to fix. They irresponsibly rent out their properties with no local contact for the tenants. They do everything illegal and don't care because no one can locate them. Then they have the nerve to boss around volunteer unit owners who service on the condo board like they're employees. The entitlement is off the chain. Their negligence turn neighborhoods into slums. No authority in the government does anything when their tenants complain that they're illegally asking to wire money outside of the country or steal their damage deposit.

[azintern]

nobody is addressing the question of how people are able to buy these homes in the first place. House prices have doubled where I live in a rural area, small town, and there are not the kind of jobs here that pay accordingly. It's really puzzling to me.

[laubknight]

The fact that you can be taxed out of your house shows you don't own anything. Property taxes are a scam.

[explorers]

I love when you stop talking for about 20 seconds and do your signature panning shot! Anyway, great content! I learn from all of your videos. My wife and I are urban school teachers but live in the burbs with our family. I am slowly taking in your information to plan our next and final move. Thanks for these informative videos!

[yamhammer]

I love to watch your videos. Truth hurts. Your view on economics is different from others. The real economy is hidden from most everyone. You are helping to bring out the truth. Thank you.

[Oldeagle]

Neither political party raised a big fuss over foreign investers buying everything up. Too many corporate donations.

[ferretapocalypse]

That’s actually a good thing. America for Americans.

[qrplife]

Wow, the houseboats are a lot fancier now than they used to be!

[ByDesign]

Michael's opinion counts for me; data-based; minimal filtering; compassionate-hearted...tells hard realities while walking pleasant places.
(Foreign investors bought my only one rental...paid me handsomely while promising my renter many needful improvements while more than doubling his monthly rent....zilch improvements have happened. The renter died and now the house sits empty with way tall grass for months now. ..figures) ( mega casino caused prices go soaring and keeps going...)

[lorenl]

No ONE is coming back!!! Wake up and smell the coffee!!! I was raised in Sausalito and I have not been back in several years but thank you Michael for bringing back the great childhood memories!!! :)- Kudos to you and your channel!!!

[kathrynj.hernandez]

5:16 You are describing the result of an early 1700s economic theory that has stood over time: The Cantillon effect. I wish more content creators would seek out, explain such historic references. In 1710-1720 Irish-French Economist Richard Cantillon held that market prices are not immediately decided by intrinsic value, but are derived from supply and demand. He considered market prices to be derived by comparing supply, the quantity of a particular good in a particular market, to demand, the quantity of money brought in to be exchanged. Basically the result is gentrification. The Cantillon effect is turning our country into San Francisco (the WEF model); a luxury nation with no middle class: a neo-feudal society.

[KennyRogersRoasters]

I am starting to see 15k price cuts here in michigan. The problem is the house is listed for 50-100k PLUS over value. There is really nothing on the market in michigan unless you can afford a 500k house that is VERY dated. So I continue to patiently wait ✋️