Mortgage Delinquencies SPIKING and HOMES NOT SELLING!
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Published 2024-06-16
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All Comments (21)
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MASSIVE UNEXPECTED EXPENSES DERAILING HOMEOWNERS! https://youtu.be/iNyzFOMu8NU
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Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
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I sold my home 2020 and I've been dollar cost averaging all year long and I've almost maxed out my reserve, so I'm basically waiting for stocks to fully recover so I can break even, but on the other hand, I've been coming by articles on people who are puIIing off recurring proflts of over $150K wlthln just weeks of trades, what am i doing wrong?
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Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
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It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
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Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
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People continue to look towards the government for solutions. Government IS the problem.
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The houses are overpriced. Interest rates are high. Insurance is insane. Property taxes are insanely inflated. Four things equal no.
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I WISH I could get my wife to understand this. She is worrying the hell out of me about buying a house. All I see are over-priced average properties. I keep telling her that now is not the time. We have cash in the bank. Just wait a bit longer and we can score a great deal.
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Just came here for my daily dose of bad news 😂
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Very true. The prices people are listing their homes for in my area are delusional
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Just sold my house. Listed just below the home value and got six offers on the first open house. The highest bid was forty five thousand above the asking price. Sold!
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It's certain that this year will bring more challenging challenges. Looking back, I realized that I spent the entire previous year making expensive financial blunders because I was so consumed with worrying about my portfolio. I was forced to decide between raising my investments and purchasing a home. I discovered that the property I had bought needed more work than I had anticipated after deciding to sell my investments. It's becoming more difficult to determine how much longer I can take this.
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Listened to your advice before selling my condo in the mid-west. 1.) Negotiated for 2.8% fee for seller's and buyer's agents, 2.) Listened to my agent and chose the lower valuation instead of pushing for another few thousand at the upper end, 3.) Listing went live on Friday, selected the most solid of 4 offers on Sunday, 4.) Left town on Tuesday morning. Quick, easy, done.
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I went to a couple open houses yesterday. Realtors are acting DESPERATE.
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They aren't selling because the realtors are telling them their home is worth a lot more using older comps then you go to view the house and it needs gutted/rehabbed! IDK it's like they're using comps from 2021 😂
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We need to appreciate houses as shelter for families to live; we need to STOP viewing houses as investments or sources of passive income for savvy investors. The house affordability index is way out of line with wages. Realtors need to tell sellers to accept more affordable prices; realtors need to stop rooting for lower mortgage rates (Fed is not going to make it happen); a more reasonable house price will more affect the affordability than will a mortgage rate drop
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Everybody is talking about Infaltion but don't forget to mention greedflation! The greediness of the Sellers is another reason why they can't sell their house.
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Love this channel. Truth is addictive. Finally, we can be addicted to something that’s not destructive.
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From canada here (unfortunately) Your comments on our housing, economy, interest rates, etc., are right on. Keep up the great work!!
