Weren't these guys saying a couple months ago that housing would continue to be strong....

@ShameenYakubu

Жыл бұрын

It is still strong. Did you watch the video? Also this is a market by market basis

@JB.1234

Жыл бұрын

@@ShameenYakubu delusional.

@AndrewCB07

Жыл бұрын

@@ShameenYakubu If I used only 4 indicators from the same sector in my models I would've gone bankrupt long ago.

@Cris_V_00

Жыл бұрын

First thought when I saw his face. The Fed has a lot of power, rates are going higher, China keeps having lockdowns, world energy crisis, more layoff, evictions on the rise etc... we are in a heavy recession.

@bitcoinman9202

Жыл бұрын

@@ShameenYakubu WTF it isn't strong in any market I have been shopping clearly a buyers market in most lol

Philly suburbs is still really tight and prices are still rising with things being competitive

Great stuff! Thank you!!

No one says it's crashing, everyone says a crash is coming. This guy just said "houses haven't already dropped 10% so everyone is wrong"

Thanks for all the great info & analysis. Curious of what sites are a part of your research? Or where do you recommend new investors to start learning more about various markets? Excited to learn more & appreciate your feedback 👍

@lpa4058

Жыл бұрын

You have to buy his book to find out😁

@Jordan-wd9kw

Жыл бұрын

@Zoe Smulders I would probably start by reaching out to a local CFA advisor and not seeking advice from a KZread comment section.

It's all relative. In my area, prices are still outrageously high. It also is one of the most growing areas in the U.S...#3 fastest growing towns for the last 3 yrs. So, no, there is no cooling in some areas.

Boise is ridiculous right now.

How does @Biggerpockets feel about the Las Vegas Real Estate Market? Especially if you bought late Q4 2021/Q1 2022 as an investment property? If the local RE market takes a 💩, how long do you think before the rental market follows suit, if at all?

What website can we use to look at this data in our area?

Thanks for another great informative video Dave! You said the top 250 markets are up YoY, out of how many markets is that from?

@biggerpockets

Жыл бұрын

I only looked at the top 250 largest markets, and all of them were up Year over Year

I live in St. Louis. The builders have a large backlog. A friend of mine just bought a duplex and sold her duplex in 10 days to cash buyer. I see no signs of a slow down here.

"Not a crash..." We sold our home April 9, 2022 for $447,000. The same model(s) with better and more improvements (I'm talking about new kitchens and flooring over 1800 sq ft improvements) selling for $430,000, $410,000, and $385,000 since then. Our home sold in 3 hours (the best offer ie $60k over asking), now they sit and mark em' down. This IS a crash regionally now and will be more widespread soon. Edit: Colorado Springs, CO

@javanjackson6918

Жыл бұрын

To be fair your in Colorado so that is obviously different than then the midwest or south with cheaper housing. But yes its crazy overall.

Okay I’m glad he brought up Philadelphia and said its holding up well. I would say he is wrong. I am a builder and builder sentiment is way down. My latest two flips took much longer to sell than before. One took 6 months, the other two. My builder friends say the same. Rehabbed and new construction homes have slowed significantly, while material prices are making it hard for builders to get some profit margin. I think Philadelphia is about to suffer a 5-10% drop. This winter will reveal a lot about the state of the market. All this stats mean nothing. If you want to know the future, listen to the federal reserve. Interest rates make or brake the market, if they continue to rise 1-2% more it’s over. Its simply over, crash will be imminent. If they stay here the decline will be slow n steady

Unless a new construction contractor had 5+ years of supplies on hand pre-pandemic, there's no way new construction prices will fall. I build ne houses and my costs are out of sight and supplies across the board are hit and miss, from rebar for the concrete to lumbers and windows to kitchen appliances and door knobs, even utility hookup costs. Nothing is guaranteed these days and cost is out of control. In my immediate area there is no room for price reductions unless you want to lose money. Comparing cost to construct to listing price - all of my research suggests the inventory near me is competitively priced. I think it is increased interest rates and economic uncertainty that is keeping buyers away from new construction. Meanwhile, new construction is hanging out on the clothes line waiting to dry while collecting days on market.

Interesting, prices for luxury items, boats, planes,luxury and homes seem to be slowly being repriced.

@mikemitchell8928

Жыл бұрын

What's the adage...when cash flow is low the toys must go

It’s gonna be a gorgeous next 6 months. Now is the time to exhaust yourself of the pursuit of getting deals. From October to January are the times I always do the most wholesale deals.

@ChrisWilliamsREI

Жыл бұрын

Yes!

@vestraduke1411

Жыл бұрын

Where are the markets your looking at?

DoM will continue but ibuyers must sell and will drop prices

Didn’t mention the rise in interest rates. Fed will continue to raise rates. By the time fed is done with the rates mortgage rates will be around 8-9% range. Which will make buying a house very hard even the markets that are still up yoy right now.

You misspelled Crash.

9-18 months prices are going to fall big time!!!

We'll, when you talk about supply and demand don't leave behind AFFORDABILITY. If you have 100 people that makes 50k a year and are looking to buy a car 🚗 and the car supply is only 10 cars. But what if the 10 cars are Lamborghini, " how is tge supply and demand looking now? 🤔 Eventhough is only 10 cars for 100 people GUESS WHAT? there is to many cars because people don't qualify for the cars.

@biggerpockets

Жыл бұрын

Affordability is a major part of demand

hey dave when you getting a twitter account ?!!

thank you for saying "correction". I cringe how these other youtubers calling for a crash

@eranmaron909

Жыл бұрын

Exactly

Not sure what markets you are looking at, but there is a surplus of inventory, and a serious amount of price cuts in metro areas.

@biggerpockets

Жыл бұрын

The vast majority of markets have no yet approached pre pandemic inventory levels! A few have though.

@nickvin7447

Жыл бұрын

@@biggerpockets we never had an "inventory shortage" to begin with. It was over hyped from day one. When the layoffs begin over the next several months, we are going to have a real problem on our hands.

If you would just zoom out, then the data is clear. Zooming in to the point it’s blinding you. BP hosts have been behind all year with their analysis

@biggerpockets

Жыл бұрын

What point are we missing?

You can always rely on Bigger Pockets to hype up real estate. Thanks to a sea of cheap money, maybe it hasn't crashed yet. But everyone knows housing is the most ridiculously overbloated market in recorded history. Perhaps the era of using housing as ATM machines will soon come to an end.

We are softly crashing dude, look at the data!

Very knowledgeable but I miss Brandon. Sorry

derp....

If you guys haven't caught on. Everything is crashing. Houses included. Don't buy, save money so when these houses drop to nothing you can buy 4 houses for the price of 1 in this market. Be patient.

@heyitsme881

Жыл бұрын

Not gonna happen. Too many areas with inventory issues.

@ChrisWilliamsREI

Жыл бұрын

That would mean a 75% price drop. That has literally never happened on a national level, ever. Show me indicators that we’re going into a 75% crash…

@jtowensbyiii6018

Жыл бұрын

This is how most people die poor

@utunum1799

Жыл бұрын

Lol. You guys are funny

@ChrisWilliamsREI

Жыл бұрын

@@utunum1799 you still have presented no evidence of such a claim.

What a joke

Man I sent you an email and ig message since I live 1 country over but you never responded. I'm hurt

This guy has no clue