China Observer posted here on KZread that last week home prices in Bejing, Schenzen and Hong Kong dropped over 30% in one week. Chinese homeowners are underwater, laid off and bankrupt.

@here-i-am2316

Ай бұрын

Sadly a lot of the supply is unoccupied. Kind of family status to have multiple properties.

@toinengwyn3935

Ай бұрын

If the biggest real estate market in the world can fall, why would the U.S. market be immune to downturns?

@here-i-am2316

Ай бұрын

@@toinengwyn3935 low supply and high demand. Differs from China where you have a lot of ghost housing

@Semi_Successful

Ай бұрын

You don't think that occurs here? Look around neighborhoods in the burbs...many vacant and for sale houses. At least here in Texas. ​@@here-i-am2316

@toinengwyn3935

Ай бұрын

@@here-i-am2316 We have multi-decade low demand in the U.S. for R.E. According to the U.S. Census, 15.1M houses sit vacant and represent 10.5% of total inventory. Much of the inventory is held by investors. On top of that, Chinese buyers are more debt adverse and assume less mortgage debt than U.S. buyers do. They put down 20-30+%. The U.S. buyer is closer to 10-15% down. Thus, the U.S. buyer is becoming ever more leveraged and susceptible to economic shocks.

There IS pent up demand... demand for houses in the $200k-$400k range.

@AJ-ox8xy

Ай бұрын

That's assuming the housing payment can be maintained at today's economic activity. We are heading to a currency reset and economic depression paired with an empire collapse. Those evaluations will likely never return in current dollar terms because deflation will destroy the system. So continued inflation is guaranteed as the "solution" of last resort to delay and prevent the eventual collapse

@joaquincortada1483

Ай бұрын

yeah but the markets where those are available are saturated

@davonel126

Ай бұрын

I think the part that’s missing is if you are a high income earner and not wealthy you won’t make it so the house will be irrelevant. High incomes can’t stay high with a way to make money and inflation and no dollar hegemony. If America slips just a little there will be no one to even protect those million dollar homes hell they can’t keep squatters out of them now 😅

The difference between having to sell and wanting to sell is that price cut.

The Squatters are making it difficult to sell too!! Please do a video on this, as this is happening alot recently and they have more rights than the home owners now!!!

@aga5897

Ай бұрын

Squatters is becoming a BIG thing here in Spain. To be fair, in the Tourist areas there are lots of empty houses during Winter. People have to live somewhere and if you can't ever afford to Buy a house ...

@stevenhenderson7280

Ай бұрын

Yea that’s only in blue cities though

@SW-fm6up

Ай бұрын

@@stevenhenderson7280 Unfortunately Arizona is becoming that kind of a city, where they are letting in all the migrants!!

If you think the housing is in crisis, just wait until you hear about the commercial mortgage crisis coming.

@postscript5549

Ай бұрын

The CRE (U.S.) crash is already here!

@queenbee4637

Ай бұрын

@@postscript5549 CRE needs to crash faster. It feel like it's crashing at a snail speed.

George, you’re starting to remind me of Peter Schiff

Have a wonderful week everybody ❤😊

Housing is SOL, game over

@TheCullousus

Ай бұрын

Let it crash lol

Thank you again for covering the housing market!

The coming everything collapse will be devastating!!

@ReconPro

Ай бұрын

Yes good luck to all 😢❤

Hartman wants a word with you George 😂

The new background, the trim white shirt, the angle to the camera view, looking great. Houses, not so much.

Evil youtube tries to keep me grom commenting!!

@mg-by7uu

Ай бұрын

same

Where I live I see a bunch of dilapidated houses. It would take a considerable amount of money to pay labour, and for materials. Your going to hold a deed, while paying property tax. Meanwhile, you cannot legally occupy it. That is a liability. What I am seeing is the city slowly demolishing these houses. Meanwhile, much of the new construction is occurring on previously undeveloped properties.

Nice lighting in your unit!!

Demand equals supply, or... reduced [wage driven] buying power has matched inflation. Probably a mix of both? Be interesting to chart inventory numbers. In our post Nixon world, bids lean even harder to what banks are willing to lend vs what people can pay. So we are back to a flatline economy, as Obama mastered during his first two terms.

Thx

My wife and I are just about to list our house in one state and buy a house in another state. Good grief!

I’m trying to remember when George started calling for a residential real estate crash? 2019 I believe.

@shawntorres200

Ай бұрын

You can never time the housing market crashes. Governments put this off as long as they can with their little tricks. I knew the housing market was going to drop during the GFC but I was predicting it around 2006-2007. Didn't happen until a year later.

@mg-by7uu

Ай бұрын

Well George uses logic and he's spot on. Unfortunately the 0.1% with all the wealth have an endless bag of tricks they manipulate the markets with and even the most brilliant economists can't account for that

@sugadre123

Ай бұрын

​@@shawntorres200exactly. These people try to deflect by talking about how long people have been calling for it and blah blah blah. Its basic economics. No one knows when but it for sure is going down somepoint soon. Keep swimming

@TreatsOnTheStreets

Ай бұрын

They were beginning to crash until the magical economy saver of 2020 appeared and we had an excuse to print our way out of it.

@EndCorporateWelfare

Ай бұрын

Prices started coming down in 2018 until Trump threatened Powell and forced him to drop rates.

George, I have a realtor send me new listings. I was for months receiving 8-9 new home listings a day. In the last month or so it's down to 2 a day and usually they are price drops not new homes on the market.

Why wouldn’t they stop humping the market and knock it down so they can then lower rates. Was the 40% increase in stocks not good enough for them?

KB Homes has been sitting on a development near where I live for over a year now. They were supposed to have completed construction Spring of 2023. They have only paved the roads, they have yet to pour any foundations. Seems like they are well aware that adding this inventory to the housing market isn't worth it.

George, it's simple, adjusting for the rate - by going on ramen noodles diet (from Costco).

What do you think about Graphene as a commodity play? Specifically companies that use Dr. James Tour’s flash Graphene process.

I am in seattle area, I am real estate agent,. House in bellevue/seattle area just pending in a day, every new listing basically got pending right away, I do see the price going up at this moment

you should interview Chris Cole again if you can. I haven't heard from him in a while. He might have something interesting to say about the volatility of all the different markets.

A friend is a RE Agent in the greater Charlotte NC area. I talked to her about a week ago, and she said she's had her best year ever. Location, location, location.

@carefulconsumer8682

Ай бұрын

Same with several nice suburbs around Houston. people moving in like crazy and house prices still going up because of demand.

@justincase3108

Ай бұрын

Always consider momentum even when direction changes! Hold on, it’s going to be interesting!

@sugadre123

Ай бұрын

RE agents are notorious liars. If she said she had a good year then ok. But she said he best year ever? What about 2021 and 2022? Those were the best years for scumbag salespeople.

@norsefalconer

Ай бұрын

@@justincase3108 No doubt.

George. Whats the forecast on DJT IPO ?

George the corp buy backs are interesting what happens in the Blackout period which started today and ends 4/26. when about 93% of corps cant do buy backs, Will that cause the market to go down or just go nowhere like it did today?

If there is a price reduction, it’s on a house that’s been sitting it’s been overpriced. There might be something structurally wrong with it.

Friday is big day for inflation numers........

Maybe the people have adjusted by working more and spending less.Negotiating with their families and or with the bank for a longer loan, etc...

Wow look at lumber prices!!!

What if the house and stock prices are not as high as we think? Measure them against gold instead of dollars

There's some Audio anomaly when you pause/stop speaking. Sounds like some digital processing artefact that lasts about 0.5 to 0.25 seconds. Wasn't there in previous videos.

You got a little philosophical or 'moody' this time, George. I got quite a lot out of this show because of that. Thanks-a-Millon for it...🇺🇸 👍☕

Housing market has winter downward seasonality, data trails reality by 60-90 day.

No more recessions: Janet Yellen said so. So that discussion is over, just like climate change.

Houses are as valuable as a 3 rd of the average yearly income of workers in the US

Volatility All time lows lmao shits crazy

Only DAX going only UP!!!

Have nt new mortgage repayments doubled in price in 18 months? Have nt credit card interests rates doubled? That s why people are nt buying houses- the stimulus cheques have dried up.

Everything is changing except silver still.

@ThatRandomYoutuber28

Ай бұрын

Just like the 70's till it did

People can't afford to rent how are they suppose to buy.

Thats it!!!!!

Been noticing that prices came back up in 2024 in my area.

@reptileenthusiast9618

Ай бұрын

same

How does real estate react in a Hyperinflationary depression environment?

@kylebarney5738

Ай бұрын

Terribly. Lenders won't lend on it, so prices collapse to cash value. Expenses skyrocket. Govs implement rent control.

@brawndothethirstmutilator9848

Ай бұрын

Food producing real estate is one of the best performing assets in a hyperinflation.

Imagine how long afo the market would've crashed had it not been for government intervention

Damn George. Lookin fine

Housing supply in the USA is under supplied! It will get much more under supplied in 2026 and beyond unless the government significantly reduces the barriers to building a lot more housing units…

@toinengwyn3935

Ай бұрын

15.1M vacant units nationwide. It’s not an inventory problem. Still too many treating RE as an investment. Future demand has been pulled forward many decades too early thanks to 15+ years of cheap and easy credit. Even the Fed said that overheated demand, not supply, is the problem.

@herbigp

Ай бұрын

@@toinengwyn3935 where? How many illegals can be put in the vacant units and paid by the government??

@hefayu1075

Ай бұрын

There's more than enough housing. Correctly state would have stated that we are low on affordable housing.

@reptileenthusiast9618

Ай бұрын

@@hefayu1075 Yes all the new homes being built are 800k+

how informative can national trends in housing really be? housing prices are a local phenom.

I hope this over inflated real estate drops! So my Property Taxes Drop!!!

👍

Four and a half minutes is a too long preface.

Supply is still really low, and and longas supply is low prices won't fall.

@toinengwyn3935

Ай бұрын

As George repeatedly pointed out, demand is extremely low as well. The U.S. is a demand-side, not supply-side, economy. If more consumers continue to face economic hardships (e.g. real stagnant/falling incomes), demand will continue to dry up.

@fatfatthewaterrat5010

Ай бұрын

@@toinengwyn3935George is full of 💩

@reptileenthusiast9618

Ай бұрын

@@toinengwyn3935 except that's not reality. Go to a home showing, over 100 people at the least one I went to with a line out the door of the house waiting to get in

@toinengwyn3935

Ай бұрын

@@reptileenthusiast9618 Your situation most likely does not represent the overall market. Basic math (e.g. price to income ratio being higher than prior to 2008) reveals the lowest affordability in history.

@reptileenthusiast9618

Ай бұрын

@@toinengwyn3935 Maybe we'll own nothing and be happy? It almost feels like a plan with institutions buying 40% of all home sales?

George sounds confused.

Stuckhome syndrome

@michellefraser3463

Ай бұрын

😂

The USA still has a relatively affordable housing market. Housing prices could still double from here if you think rent is high now give it a few years and it’s really going to get bad.

@utpharmboy2006

Ай бұрын

so wage gains are gonna go to the moon too?

@utpharmboy2006

Ай бұрын

@@njerseydavid okay.....then civilwar then everything collapses and nobody has anything

@utpharmboy2006

Ай бұрын

@@njerseydavid again....70%? no. the banks own a large % of those. fool

@utpharmboy2006

Ай бұрын

@@njerseydavidokay. so all these youtube channels you go on every single day saying pretty much the same thing and how its all a 100% foregone conclusion you are doing solely for the benefit of your fellow man and their need for shelter? wow. im so sorry. you are a saint. St. NewJersey David. maybe they will build a big monument for you in the great halls of the national association of realtors. i can't believe im actually conversing with someone famous right on my phone right now. I'm never gonna wash my thumb ever again.

@utpharmboy2006

Ай бұрын

coward

Mr Rebel you have a real hard time forcing yourself to do a TED talk: quick and to the point. Low homesale "float" it could become problematic if like 10 million people start losing their jobs to AI. They can be forced out of their homes if they can't pay their mortgage, the home gets sold for a low price and then it is 2008 all over again (in like 2025-6).

Jeffrey Mezger should be quiet. Buyers have adjusted, they've been sidelined. Ingnore people like him.

George, what about tokenizing real estate…Game changer

I am a fan but this was a nothing burger, suppositions and theories. Summary: time will tell

HODL is prounced like Bottle not Yodel George.

@brawndothethirstmutilator9848

Ай бұрын

Acronyms don’t have one correct pronunciation. George is just as correct as you are.

Just sold a house today got 15k over very happy

Prices to the moon!!! Buy now! 💪🤙

You attack people for their belief in perpetually rising house prices.😂😂😂😂😂

Uhhh, not in NE TN...still hotter than a junkies' spoon.

Location Location Location. Real estate is still selling well where I reside in the Northeast. Although, the area that I live in was one of the few that was insulated from the Great Recession as well.

Man you lost me on this one. You’re all over the place lol.

Not holding my breath for lower prices. Once interest rates are cut, pent up demand is going to be unleashed. People have been waiting on the sidelines, saving and waiting for a better deal. The next wave of inflation will also mean investors will come back in to hedge.

@norsefalconer

Ай бұрын

This ^

@michaelo2573

Ай бұрын

Unless people don't have jobs

@michellefraser3463

Ай бұрын

@@michaelo2573this^

@toinengwyn3935

Ай бұрын

The primary reason for cutting rates is because the economy is in bad shape. Therefore, banks will reduce lending due to higher risks. Higher unemployment means fewer will qualify. Prices continued to fall despite multiple Fed rate cuts during the GFC. Cheap credit does not equate to easy credit.

@Kaikoura26

Ай бұрын

@@michaelo2573 this guy here. cheers.

George is getting boring

George , you are grasping at straws, stop it.

More doom porn for the preppers. You've lost the chance to buy an incredible dip in the market but please don't miss out on the next rally upwards. UK is apparently in a recession and the stores are full here and houses are selling in days. George and his hedge fund mates want to squeeze out retail investors with fear so they can buy your assets. Time in the market, beats timing the market. Don't miss out.

lol you been saying this for over a year...you will be right only when there are mass layoffs and people are forced to sell their homes

@brawndothethirstmutilator9848

Ай бұрын

He’s been saying it’s market peak in RE since 2019. George’s thesis and his method of evaluating RE is just wrong.

@joek2293

Ай бұрын

And I really don’t think there will be mass layoffs . We have mass early retirements in the massive company I work for . Not enough workers as is , if things slow down all they will do is cut OT at most .

Im seeing price cuts of 10% in my area. Getting ready to not miss the last chance to own one.

@utpharmboy2006

Ай бұрын

lol you go get it pump bro