The Housing Market Is Beginning To Crack
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Top Comments (10)
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
If you sell, you'll likely need to buy another home at today's higher interest rates, which could significantly increase your monthly payment-making the move less financially sound.
Thank you for your unbiased input random guy on YouTube
Same thing happened in 2008. It took 5 years for markets to return.
Who's ready to listen to some random guy on youtube! 🙌
Im really shocked that there was no comment about insurance rates considering that is a major factor, and not just the mortgage. Housing cost are too high. Interest rates are higher than they were. Insurance rates are killing. Taxes are too high. These are all of the key factors. Young people, dont get trapped in thinking the mortgage is the only thing you have to contend with.
Let the bottom fall out!!!!
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/df6e05 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Insurance and taxes have become equally problematic to the home mortgage with tax rates in the 3s and exploding insurance costs
So it is neither a buyer's or seller's market. It's a terrible, oppressive stalemate.
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Top Comments (10)
In my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
If you sell, you'll likely need to buy another home at today's higher interest rates, which could significantly increase your monthly payment-making the move less financially sound.
Thank you for your unbiased input random guy on YouTube
Same thing happened in 2008. It took 5 years for markets to return.
Who's ready to listen to some random guy on youtube! 🙌
Im really shocked that there was no comment about insurance rates considering that is a major factor, and not just the mortgage. Housing cost are too high. Interest rates are higher than they were. Insurance rates are killing. Taxes are too high. These are all of the key factors. Young people, dont get trapped in thinking the mortgage is the only thing you have to contend with.
Let the bottom fall out!!!!
Register for my free masterclass & get Market Briefs as a bonus: https://briefs.finance/df6e05 WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through YouTube comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!
Insurance and taxes have become equally problematic to the home mortgage with tax rates in the 3s and exploding insurance costs
So it is neither a buyer's or seller's market. It's a terrible, oppressive stalemate.