A Mortgage of 1800 pre Covid, same house 3400 today, lol…

@Jake-pf4kv

5 ай бұрын

it should be in between that now

@10forthebigguy753

5 ай бұрын

Not Covid it’s all Biden’s fault

@johnrobi0

5 ай бұрын

@@Jake-pf4kv Nope. My interest rate is 2.75% under Trump. My son is trying to buy a home at 7% now. Even with me gifting him the 20% down payment, his mortgage payment would be $500 a month more than mine for a house worth $400,000 less.

@SpeedDemon88X

5 ай бұрын

​@@johnrobi0yep. The math doesn't lie. Most don't understand.

@xxxxMonkeyGirlxxxx

5 ай бұрын

@@johnrobi0interest rates should have never been that low to begin with. People got spoiled by it and now expect it to be the new normal.

Stop with the interest rates!!!! Its the house price!!!! Look at the run up! You people are so out of touch

@iWendyful

5 ай бұрын

I agree… home prices need to came down by a lot.

You need to make $100,000 - $120,000 annually to buy an average home these days

@hymansahak181

5 ай бұрын

It’s unaffordable.

@MVPTC

5 ай бұрын

In the ghetto lol

@OhioPalmTrees

5 ай бұрын

you mean to put 20% down on a 500k home lol which might as well be a 1.5 million dollar home after the interest you'll have paid after the 15/30 year mark on the loan

Bidinflation affects everything except my paid off house

@stephweissinger

5 ай бұрын

Your house is never paid off. You have taxes to pay.

@oliphauntsneverlie6227

5 ай бұрын

Yes but no mortgage because his house is, well, paid off.@@stephweissinger

@10forthebigguy753

5 ай бұрын

@@stephweissinger I live in Florida taxes are minimal especially if you’re over 65

@RFJersey

5 ай бұрын

It will when you have to change a roof, windows, plumbing etc.

@Jake-pf4kv

5 ай бұрын

the money supply increased 58% under Trump, nice try!!!!!!!!!!!!!!

Home ownership has turned into the American nightmare.

Home prices will never recover back to an affordable level in a lot of areas, especially Florida. Low inventory along will heavy migration from almost all blue states will keep prices climbing. Insurance, taxes, and high interest rates, renovations, and a mandatory new roof will put homeownership out of reach for most. One more terrible decision by Yellen or the Fed could permanently distort the market.

@BANDIT2DAY

5 ай бұрын

Same thing here in Idaho. Massive migration from blue states. I’ve never seen anything like it and I’ve been here since 1969.

@scruf153

5 ай бұрын

when did a home become a stock that has to stop

@youtubeaccount7770

5 ай бұрын

10+ million Biden illegal immigrants doesn’t help

@xxxxMonkeyGirlxxxx

5 ай бұрын

@@scruf153since investors realized people will keep paying whatever they charge for a home because people need somewhere to live unless they want to be homeless.

@-don6496

5 ай бұрын

It's easy to be a Monday morning quarterback. The economy is very complex. Yellen has a PHD in economics. Economics students still reference her papers today.

Homes are alot of responsibility and cost.

@imsosmart942

5 ай бұрын

True, there is some upkeep, but your home is your BANK!

@davesmith5656

5 ай бұрын

I've heard the rule of thumb for recurring expenses including utilities and insurance and taxes is 10% of the sticker price. Calculate the insurance deductible carefully against the premium, and against keeping a reserve on hand to cover the deductible. Your own estimate of risk of loss matters, and better upkeep means a stronger structure. Btw, your home is not "your bank". Spending less than you make, and avoiding interest payments like the plague, saving and investing at least 10% of your income, is your bank. However, in my experience, ideally you want to establish a stable place to live in for the long term - that's the goal.

@user-bk7jp1qb1b

5 ай бұрын

Home ownership os basic human right to function in society. No home = body cannot work due to trauma and filth = no taxes and no trust in establishments

@improvisedsurvival5967

5 ай бұрын

Not really

@cyropox8235

5 ай бұрын

​@@imsosmart942why not just let your bank be your bank though?

In Florida it's just as much to rent as it is to buy a house, live by your own rules!!!

@jasonsmith530

5 ай бұрын

Florida housing sucks

@imsosmart942

5 ай бұрын

ABSOLUTELY TRUE! If you can stay in one area for 10 years or more, you MUST BUY!!!

@10forthebigguy753

5 ай бұрын

I bought a house two years ago in Florida and it’s great. Everything cost way less than I thought.

@improvisedsurvival5967

5 ай бұрын

Homes too close together in Florida

@aware24

5 ай бұрын

Florida though 😐

STOP treating homes like a stock trade if people did that a house would cost $100,000 or less

There's no such thing as 'a return' on a house that you live in. These people are lying

@user-dw1ls3rp1l

5 ай бұрын

Sure there is. You aren't homeless.

This survey has a MASSIVE flaw I'm shocked they're not mentioning. Millennials are trying to start families and feel social pressure to have a house to do that. So of course millennials are going to disproportionately say now is the time to buy versus other generations that don't have the same social need to purchase a house right now. The millennials weren't responding to economics they were responding based on the stage of their life.

We're not letting it go willingly more like heartbreakingly We want our own home. But we can't even rent a place let alone buy it right now.

BLUE STATE HOME VALUES will soon start dropping 5 0 % ?

@improvisedsurvival5967

5 ай бұрын

No way. Seller dictates price most are upside down to take a loss

@SigFigNewton

5 ай бұрын

Don’t expect reality to match the propaganda fox feeds u

We are "Willingly" accepting high property prices, Rent is up too FYI. To say we willingly accept no future because that is what no property ownership means.

I love how she can’t help but smile while saying “some millennials think 8% isn’t bad” deep down she’s so thankful people are dumb enough to keep buying

@lljl5310

5 ай бұрын

Deep down, not even she believes her bs! 😂😂

It's NOT the interest rate, it's the price of the home. Built my first home, when I was 24, interest was 8% on my loan.

Lmao they think everybodie's lining up to pay a 3k+ a month mortgage when they can barely afford food

@SigFigNewton

5 ай бұрын

They know sales are extremely low so they have frequent housing market commercials

The problem is that we’re all taught that buying a house is the best investment. But what people fail to realize is that buying a home to live in it isn’t an asset, it’s a liability; therefore it isn’t really an “investment” so to speak. Pair that with high prices due to low supply and high interest rates due to inflation and you now have an “investment” environment that is very high in terms of the downside risk for all purchasers. What happens when you buy high with high interest rates and then the fed cuts the rates? Supply increases due to more people being able to buy. When supply of a product increases, the following trend usually means the price or value of that product then decreases. So what happens when the house you just bought decreases to a value that’s below what you bought it for and you’re left holding the bag? Well… history will repeat itself. Hello 2009. People need to be patient and really be careful about what they’re buying. The best move right now is to find something that is undervalued and buy that vs. something that is of a comparable price. -OR- Continue to rent until things settle down. Open an LLC & buy a home under said LLC and turn it into a rental property. That is an ACTUAL asset which will provide a small stream of income from which you can then reinvest into other assets which will make your investments grow over time. I’d rather have a high value investment portfolio than a house that I live in as my “main investment”.

Where can I find the survey?

The journalist asks a very good question, asking the quiet part out loud.

This isn't the first time interest rates were high. Try to hold out until we have a republican as president & they'll go down. In the 80's I bought a home with a 6% fixed interest, my coworker had a varible rate and her loan was 6% then skyrocketed to 12%! Thank goodness my current loan is below 3%.

@RFJersey

5 ай бұрын

Lower interest rates makes home prices higher.

@keithbuchanan8588

5 ай бұрын

@@RFJersey i don't believe that is true.

@RFJersey

5 ай бұрын

@@keithbuchanan8588 It’s been True for the past 6 years.

@sammartinez4244

5 ай бұрын

I started at 8.5%, 1976 then to 12% in 1985. Then at 3% in a different state. Originally from CA.

@LockedUpLarry

5 ай бұрын

@@sammartinez424412% on $1 isn’t the same as 12% on $2. Let’s apply some logic here. Homes costing 7x the median household income at 7% is stupid.

bought my first home when I was 20. (1985?) Got out of the Army and my Dad said "Interest rates are only 10% right now, they've never been this low before and never will again. you better buy a house now, boy, if you want one".

It is cheaper to rent than it is to buy, that is a bad sign for home values.

@cyropox8235

5 ай бұрын

It has always been cheaper to rent than to buy, and that will probably always be true. Landlords can afford to take a loss on Cashflow because the home appreciates in value, so their net worth goes up even if not all of that net worth is liquid. But that has been true for decades, maybe even centuries.

@wadej769

5 ай бұрын

@@cyropox8235True although the difference right now is the gap is far larger than historical norms. In our neighborhood in CA it’s 50% more to buy then rent right now if you put 20% down. Pre-covid was about 15% more to buy vs rent. That gap will close back down one way or another. History says it will close with a major recession in the next 2-3 years

@tlindsay1007

5 ай бұрын

It wasn't true a few years ago. But, now rentals are going down in price, and home mortgages for the same type of property in the same location can be double of a rental, and the home purchased may need a lot of work. So, there's a real possibility the home prices will take a dive in the next year or so. Especially since the economy is so strong, and the Feds aren't going to lower rates until inflation is under control.@@cyropox8235

@JaneTheDoe-id2vx

5 ай бұрын

l rather own my own home and not pay other’s mortgage

@nickvin7447

5 ай бұрын

@@cyropox8235no dummy, and that is the point.

Up here in a working class suburb about 30 miles north of Philadelphia. Even before Covid, a neighborhood house built in the early ‘50s would be on the market for less than five days. Now a similar house has doubled in cost and still will not last five days before sold. We bought two homes as rental properties about ten years ago. Turned out to be good decision. Looking to retire in Myrtle Beach SC next year. They are building 10K new homes annually. But the demand and prices are dropping for the SC homes.

One advantage of high interest rates makes saving money for a home easier and faster, maybe? If you have a 28% interest charge on you card, you can pay down debt and save 28% interest fees? It's like saving money in reverse so I like to pay down the high interest debts, also. Then, when one is prepared to buy, if the rates have dropped, it might be a better time to get a mortgage, maybe? Also, determining one's "want" and "need" lists. Wanting can wait, I think. A $5 cup of coffee vs a .57 cent coffee brewed at home? So many tips and much of it is about timing, I think. The best time to prepare for a recession is during the previous recession and taking notes, perhaps?

The younger generation is not choosing to give up the home owner dream.

@russelldias5131

5 ай бұрын

They don't even want to pay off there college loans, yet buy a home. 😅🤣😂

@newtec-kd6vy

5 ай бұрын

@@russelldias5131 Hahaha True, as a younger generation who worked his way throw college and paid cash. Its rough to buy a house. I dont understand how anyone could vote for Sleepy Joe.

@bondjovi4595

5 ай бұрын

Are they going to have 60k down by Summer '25?

@user-bk7jp1qb1b

5 ай бұрын

Correct, I am now trying to hand build home off grid. Let the cities and suburbs decay.

If you can hold off on buying a house until Trump gets back in office I suggest you wait and vote for Trump!!!

@RFJersey

5 ай бұрын

Trump isn’t getting back in office, he can’t win a general election.

@RickStorni

5 ай бұрын

agreed💯

@DuckSlayer92436

5 ай бұрын

Agree

@PBAJ10

5 ай бұрын

That's a terrible investment strategy. Trump will not make houses more affordable. If anything, he'll put this country deeper in debt (he added 39% to the national debt while he was in office), and he'll isolate us from our allies and trade partners. You folks who think he's going to "save" this country and make your lives better are in for a rude awakening.

@Agent77X

5 ай бұрын

Trump will be in maximum security federal prison to serve his over 100 year prison sentence!

In the northeast, many are paying roughly $3K, $4K (and more of course) monthly on the mortgage and an additional $4K, $5K per quarter on property taxes. Then there's home insurance, health insurance, auto insurance, food costs, fuel costs, maintenance costs, and so on to consider. A "return on investment" is really an illusion after you've paid the bank interest over the many years, the huge sum on property taxes on top of that over the course of that period of ownership, and that chunk at the end on the capital gains tax after you sell the property. However, if you purchased that fairly desirable property in Florida in 2018 or '19 and then sold it most recently...then you may have something there as they have doubled/tripled in just four, five years (where their property taxes are much lower and FL residents pay no income tax). That didn't happen in the northeast with house properties soaring like crazy in such a short period of time. You're likely to have bought your NY, NJ or whatever property at least twenty, thirty years ago to have that kind of money when you sell today.

You can live in a all inclusive resort cheaper than you can rent a cardboard box. You dont need to live the way they tell you to.

Just don’t buy it will go down

@Ja56780

5 ай бұрын

Hold the line

I'm in Arizona, and there are SO MANY apartment complexes being built from Phoenix to Surprise to Goodyear, ...EVERYTHING!!! AND I mean TONS of apartments!! What's going on, America!? 2 bedroom apartments are averaged at $1,750.00 per month! You might as well get stuck in a high mortgage rate for 30+ years, right?

@imsosmart942

5 ай бұрын

YOU ARE ABSOLUTELY CORRECT ABOUT THAT! They are probably being built for illegal immigrants, and we taxpayers will end up footing that bill! Here in Indiana, many bills that are being introduced are going in that direction, even though our legislators try to hide it from us. JUST CONNECT THE DOTS!

NO home ownership! Capitalism is hardcore severely broken! Off grid goals is all I am chasing now even if that means letting cities and suburbs die!

I look at the situation a few ways. 1. People care about their monthly payment and typically borrow based on the monthly payment. Not the actual home value. Right now, buying power is much lower at current interest rates. The buying power was so great in 2020 and 2021 that home prices quickly adapted with huge increases. Now we are in a low buying power state and the prices have not come down as quickly as they went up. People have to settle for much less of a home. Which can be very frustrating. 2. In my area (midwest), if you look at homes that sold in 2018 and 2019 that are on the market again. The dramatic price increase when adjusted for inflation is not much at all. Most times less that 2% increase over a 5-6 year period. 3. Home prices were high in 2018-2019 and inflation has made it much worse. Many are locked out of the market and most people would agree that prices have to come down. Sellers are buying down rates to accommodate peoples monthly budget, but if they can't afford it, the total price should go down to reflect it. It's just kicking the can down the road further.

Mortgage rates were 10 percent when we bought our first home in 1988. It was an adjustable rate. The rate went up to 10.5 percent the next year.

Well when the same house went up 50% in monthly cost… it doesn’t make sense??

My home brand new in 1998 has a taxable rate now at 260,000 all that means is my taxes went from 1600 year now at 3700 year three rate increases 2020 to 2023 one a year!!! Previously once in maybe 7+ years

You can't get over the overpriced homes due to lack of inventory. So it's ridiculous to buy an overpriced home and finance it at 7 percent

So why is the fed holding back on raising more interest rates to 19%. People don’t mind having higher interest rates. Give what the people want

Optimizm without money is a great thing.

I'm not buying at 7%. Never happen. Because I can grow my money elsewhere at virtually zero risk. So why take the chance?

@tlindsay1007

5 ай бұрын

Agreed. And, it's not just the 7%, it's the also the historic highs of home prices, along with increasing property taxes, utilities, and insurance at the same time. Seven percent is okay if the home is sold at a reasonable price.

You couldn't give me a free home in most of the country at this point.

methods of survey might be questionable, she is absolutely right on the term that it is optimistic because it is so complicated sometimes given a simple positive or negative is indeed responsible Define young, if someone’s in 30s 40s that’s not young anymore, they have saved up quite a bit for home purchase, for older ones in their 50s 60s, they have been thru the home ownership knowing it is not feasible for someone to own a house. For someone in their 20s they don’t go by their wallet size they go by feelings, so sometimes these things are not accurate.

They should buy mobile homes with some land. Lose money on the trailer but make money on the land.

So the demographics most advertised to about house buying are the most optimistic on the housing market?

They are collapsing in San Francisco

Come on now when you buy something you own it someone can't take it from you. You may own a home but you don't own the property it's on

@russelldias5131

5 ай бұрын

If you have a mortgage, you don't own it.

@bman7320

5 ай бұрын

@@russelldias5131 even when you pay the mortgage off you still don't own the house.

@bman7320

5 ай бұрын

John Locke once said life liberty and property you cannot have one without the other

@RickStorni

5 ай бұрын

that’s right if you don’t pay the property taxes each year the county you live in will take your house away and leave you living on the street

I see modest homes in small communities with good police and fire protection with good schools and strong responsible municipal support keeping home values up ! With young professionals starting off it’s a perfect start for them and starting a family . On top of that home improvements boosts contractors ! It’s a win win combination ! Shy away to larger cities , it all seems to disappear or get lost in the bureaucracy which is mostly democrat run !

To much to little to late. Greed & evil is winning.

I would never buy a house right now. Meanwhile, all these old people who own houses today bought the house for $50,000 and now worth a million dollars. You gotta be kidding me. Who would want to chase after a house and buy a house with that kind of price history is complete Delusions of the granjuer.

This is such a MYOPTIC discussion. Insurance & Supply are UNSUSTAINABLE due to a plithera of complex issues that keep growing. Best to plan as best as you can NOW! FAMILIES NEED TO BE CREATIVE & consider doubling up their households permanently. And many professions will be reduced & eliminated by HYPER AUTOMATION.

That's it set the stage for pricing. Just get used to it sheep.

Good job mr president

My 10yo could have came on here and told me what these people just said...wtf???

Good job mr biden

Thanks for continuing updates 👍 I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.

Waiting for a 10% down, 2% 30 year mortgage rate!😮

Look at history. There's your clue. Mortgage rates and cost of money do come down. Rates were a lot higher back in the Carter era.

@Highlander1432

5 ай бұрын

Yes but home prices for the time were substantially less than current prices That's the difference

@terrymoorecnc2500

5 ай бұрын

@@Highlander1432 It's relative, we didn't make as much back then either.

@Highlander1432

5 ай бұрын

@terrymoorecnc2500 No. It's not. Relatively speaking homes are much more expensive than they were back then. Hard to explain these things to a generation that has never had to really analyze data or pull back the curtains on policy.

@terrymoorecnc2500

5 ай бұрын

@@Highlander1432 Who says we don't analyze data? You? That's your opinion. If you had been born back then and had actual experience buying real estate, borrowing money and paying the interest rates you would have a different perspective.

@Highlander1432

5 ай бұрын

@terrymoorecnc2500 No i can actually look at the data and see that relatively speaking home prices are much more expensive. Also the quality of homes and their locations are lower value than back then. The incessant federal stimulus into "building" the economy has only made the rich richer. Bidenomics reaching same outcome as Bushinomics Recession followed by more inflation Rinse. Repeat.

It's a terrible time to buy a house. Things are going to tank soon. Wait. Wait WAIT!!!!

My high school science students think that water is biotic (alive) and most read at a s3rd grade level so upper class and my students who listen learn and achieve academic success will look to home ownership but there are many who will remain a life renter

@SigFigNewton

5 ай бұрын

Your students don’t think water is alive, they just know better than to invest time learning terms such as biotic

With around £120k invested in Tsla stocks, any suggestions for additional stocks to diversify across various markets? Looking for a well-rounded portfolio that balances risk aversion with returns meeting yearly inflation concerns.

@Annie56427

5 ай бұрын

Consider hiring financial advisors, estate planners or tax experts. They can provide specialized knowledge and help you navigate complex financial decisions.

@Christian67337

5 ай бұрын

I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

@Damon4324

5 ай бұрын

Pls who is this coach that guides you? I’m in dire need of one, my stock portfolio is declining even in a bulll market.

@Christian67337

5 ай бұрын

’Aileen Gertrude Tippy’ You can easily look her up, she has years of financiaI market experience.

@Damon4324

5 ай бұрын

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

As a first-time homebuyer I found this Fox news story to be amusing.

I've seen the price of homes go up and down but the long haul has always been up, unless you live in a blue run city with woke administration. Facts!

@SigFigNewton

5 ай бұрын

Well isn’t that a quaint and simple analysis

terrible reporting here.

You youngsters should grab the 7% interest rate for your mortgage,, that is still very low interest-rate,, Back in the late 80s when I bought my third home, the interest rate they gave me was 13%,, I was considered high risk because I was self-employed,, two years later I was able to refinance it to 11.5%, four years after that I was able to refinance at 8 1/2% and that’s what I paid for the next 10 years,,, so I would’ve loved to have a 7% interest rate,, 7% is a normal mortgage rate

@tlindsay1007

5 ай бұрын

Home prices went down accordingly, back then. Right now, a lot of areas are still seeing increases in price. Housing is not yet back to some sense of normal, and it seems to be a good time to wait and watch. But, everyone has different circumstances.

This is exactly why nobody takes the news seriously anymore lol. “Experts” lol

Relief is coming when you get the Democrats out of office

Looks like my generation wont have housing 😢

All I can heard it’s lies, a millennial guy saying 8% interest to buy a house is not a big deal 😂 I mean is good for real estate guys they make more money on overpriced homes and the government with property taxes but what about us

Those numbers are so fake, come on. It is the worst time to buy a house. Gen Z buying a house 😂😂😂😂. Yeah right.

but the younger generation are always the ones who don't really know what they can afford over the long term.. And the younger gen are the ones who are always surprised when "its not working". And they have to downsize... And they say "but I did everything I was suppose to".. yet they either go bankrupt or foreclose or repo that car. Of course they are optimistic because that is part of youth!! A certain level of ignorant Bliss. But thats ok! Thats what life is all about! So I am not down on young people. But I will say their ignorance makes it harder on older people because they are fueling upward prices by taking out big loans. Older people know that what you can afford is not exactly just some temporary instant snapshot of your current Debt to income ratio. No, you have to assume periods of unemployment or under employment. All it takes is 1 layoff and your who career path is altered.

Bidenomics, baby!

NOT NECESSARlLY THE NEW 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣

Lmao. "Choosing" to rent over buy

I’d love to know who you surveyed lol lies 😂

@SigFigNewton

5 ай бұрын

Not lies, but very likely terrible data collection, yes.

Yes, just buy homes at this rate because when the rates go down, the property values will go up again.

@Ja56780

5 ай бұрын

Buy at the absolute peak of the market? Prices have either peaked or started dropping in the majority of the country.

These Snow flakes, want no cost college, free retirement, and 500k homes for 50k with no money down! All home buyers want all home sellers to give their home way at some crazy price. Affordable' is the new buzz word.

Thanks for continuing updates 👍 I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.