@DanielBaleWyatt
The challenge is that whether you rent or own, there are unavoidable costs associated with maintaining a permanent residence—property taxes, insurance, and utilities like electricity, gas, and water. In places like California, where I currently live, the high cost of living has pushed many people to opt for alternatives. It’s not uncommon to see individuals living in tents to avoid property-related expenses, and the number of people I encounter who reside in their cars is truly surprising. It’s a sign of how extreme the situation has become.
@Todd-v2n
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2017 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
@PremSteve-yg4de
Drawing from my personal experience buying my first home in Miami during the early 1990s, I recall that mortgage rates ranged from 8-10%. This historical context makes me believe that rates may never drop back to 3%. As a result, sellers facing urgency will need to adjust their prices downward, triggering subsequent decreases in property evaluations. I suspect others share my sentiment on this matter.
@joelmartinez2278
Brand new homes are now poorly and cheaply built.....stay away from them
@Rob-r2s
I became a carpenter so that I could learn how to build a home for myself and save money on the labor. As a result, I've been able to build my personal home debt free and all by myself, with my own hands and with no hired labor. There's a lot to be said for this as most people finance for 30 years. I built mine in a year without the banks involvement.
@xxxxxx-qj5dy
The prices of everything these days are a scam.
@tcann3607
Past couple of years I became tired and burnt out with the expenses of my home, including endless property taxes, repairs, landscaping etc. When they decided to raise the property taxes 30% in one year I was done. I absolutely loved my House which I worked hard to own- a beautiful 5 bedroom colonial. Then I realized I worked hard to just a own a home. Which meant cutting back on things I like to do, fewer vacations, working extra hours, spending less time with family. A few months back when the market looked good I made the decision to sell. I questioned whether I made the right decision.and I decided not to purchase another house. Instead I’m renting a 3 bedroom luxury apartment. And I can tell you it is the best decision I ever made. I put the money from the sale in the bank. I have much less stress and realized that house was nice but I actually didn’t need that much space or “stuff”. I’m much happier now and am able to spend more time doing the things I like to do instead all the responsibilities that come along with owning a home.
@rumpstatefiasco
The Finance Industry was instrumental in creating the ridiculous cost of housing: houses used to cost the equivalent of ONE year’s average wage, but once loans (instead of savings) entered the equation, home prices become decoupled from income, and the sky is the limit. Prices become distorted and bloated. Loans drive up prices for EVERYONE.
@shawj7876
We recently applied for a conventional home loan, we have excellent credit, good work history, sufficient income, low debt, and willing to put 20% down. We were approved for some astronomical rates, additional costs and after taxes & ins, a monthly mortgage payment we just couldn’t swallow so decided to back out. We can and we will wait.
@Ponskippa
The average household income here in San Antonio Texas is $62,000. But if you look at homes for sale, most are still asking for $300,000+ 💀
@AshleysBallistics
Our current loan system wasn't made for homes & other necessities to be this high... 😕 We're bending rules to keep the system afloat 🙄
@danialwiren2403
One major factor in the housing crisis that’s often overlooked is that investors—rather than homebuyers looking for primary residences—are now snapping up more than a quarter of new homes. Even if Baby Boomers decide to sell their properties, or more homes come onto the market, the core issue won’t just go away. The reality is that affluent investors will continue to buy up these homes, keeping prices high. It’s a supply-demand imbalance that’s tough to fix when the buyers have deep pockets and long-term strategies.
@lrm21
Modern homes are pure garbage, I weep for anyone buying homes from the major builders. These things have a shelf life of 15 years at best
@micker9830
If the bank denies you a mortgage, say thank you, because you obviously can't afford it. The mortgage, insurance and tax payment is one thing, but maintenance on a house can be VERY expensive. If you can just afford the mortgage, you won't be able to afford to maintain it. First time buyers, have no idea how much money a house can be to maintain and all the tools and things you need to maintain it. All the appliances, roof, plumbing, electrical, septic, yard maintenance etc.. You will underestimate the cost for sure.
@WarTheory
Spoke to my lender the other day ... he was so happy for me. He said I can get a $1.2 million home with only $60,000 down.... I asked them that monthly nut is gonna be pretty expensive right... no he says only 8000 a month.... I don't make 8000 a month
@ChristineMHale
I lived in the Panhandle for over 40 years, lost my house after Hurricane Michael, and ended up in Pittsburgh. I admit that one of the biggest pulls to your channel is seeing a bit of "home" when you're walking.
@BrainstormJr2nd
Tornado zone, hurricane zone, flood zone for all of that money? For those types of hazards, the homes should be cheap asf. The greed is outrageous and you're left holding the empty bag with nothing to show for it.
@catrinacrystallina
Despite having a number of differing opinions from you, I can say that you are very knowledgeable and I appreciate how straightforward you are when it comes to real estate. Now I'm seeing more people wake up to how inflated many markets are but you're one of the few who called it early.
@markrichard8460
Zillow has home price is so inflated in Bradenton Florida it's ridiculous. 1968 trailer cost $20,000 4 years ago says it's worth $140,000.
@MichaelBordenaro