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You’re probably aware that housing prices have become astronomically high recently!
In fact, the median price for single-family homes has risen above $400,000 for the first time ever!
This means that fewer and fewer people can afford to buy a home, and therefore, I say the real housing crisis is starting to show up for renters. Because it’s not like it was 13, or 14 years ago when there were empty houses everywhere.
Now, people are moving away from buying homes and are looking to rent instead. Which is pushing renters’ budgets to a breaking point across the nation.
Timecodes
0:00 Video Overview
0:48 Intro
0:56 Renters Cost of Living Rapidly Increasing
2:30 The Supply of Houses Isn’t Enough
4:20 Chances of Home Ownership Are Slipping Away
6:20 Outro
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#housingcrisis #rentinghomes #inflation…(read more)
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Le rich guy: "I'm buying all the homes and I rip off the poor people, because I need to preserve the wealth, which my ancestors created. I have no real business idea and I provide no benefit for society. I depend on the safety, which this society provides me, but I'm going to pay almost no taxes to the system. The system should collect higher taxes from the poor. They are dumm and I am so smart."
This is a debt crisis plain and simple! It doesn’t matter where the debt is flowing. Hyperinflation looks far more probable as the Fed drags this out.
The solution is to open our borders!
The Fed will not decrease interest rates. No need to FOMO into a house purchase.
It isn't that hard to get into a house of your own if you're willing to perhaps learn how to do some damn manual labor and learn something about the building trades. They're not as easy to find as before, but there is still some distressed properties out there that you could buy and fix up. Oh, wait! Never mind. I forgot which age cohort we're talking about here.
…. Inventory in the housing market is building up strongly. Not only in the US. Chill out with the pricing out – which means fewer buyers in the market… your narrative doesn’t make sense.
In the next 5 to 10 years the houses available verses the potential buyers and renters will be dramatically imbalance towards buyers/renters. This is y everyone is trying to inflate the price of homes because investors are trying to squeeze as much money out of the housing market while they have a chance. Soon the residential housing market will be inundated like the commercial real estate market. Remember how expensive offices were ..not anymore and they will never be expensive again ..this is the fate of the residential housing market
1:40 As someone who lives in one of those cities and has family in another, I can say they're understating the price increases.
Whats the crisis? It's only falling housing prices.
Colorado Springs, CO Housing Prices Crater 21% YOY As Excess, Emtpy And Defaulted Housing Inventory Blanket Denver Area
Lack of housing for renters? BS. There is no requirement for EVERYONE to flock to the trendy and crime ridden cities. Simply move to the smaller cities and towns all across America to find an affordable place to live.
I can’t wait for rental prices to crash violently. It is getting harder and harder to survive. It is becoming common to have to pay $1,000 dollars just to rent a room here in Bridgeport, Connecticut and finding any room only for under $600 dollars is difficult. The prices here are still climbing and I am very worried about it because I keep wondering when will it ever fall.
Until people lose a job.. love most of your content but spewing garbage that the housing market is barley going to come down is nonsense.
I don’t get it if someone sells their home and becomes a renter why would rents go up? There are still the same number of homes on the market, since someone else will occupy the home you just sold. I think the real reason rents are going up is because landlords are trying to push the cost of their increasing mortgage payments onto renters. This is not sustainable, renters will just fit more people in fewer houses and landlords will start defaulting on their mortgages when they can’t find any renters
All of this is wrong.
Rents would be stable without the flood of illegals funded by DC, and the free FED dollars for Blackrock and Gates to effectively steal from legacy farmers and families.
Own guns
And be happy
I bought a house last year. I'm still living in it now. I paid 100,000 for it. And I basically used my stimulus checks to pay the closing cost. Also, I had a VA Loan with no down payment, and no mortgage insurance.
I suppose it helps that I live in a medium sized city, as opposed to a large metropolitan area. And I was willing to live in the kind of house that my grandparents lived in. This house was built in 1958. It is still in pretty good shape, however. The VA would not have approved this loan if it were not.
Recently, I took a look at the rent in my old apartment complex. The unit that I lived in is renting for 570 a month. I'm paying 569.93 for a mortgage. Altogether, buying this house was a good move.
None of this can be predicted.
Big trouble in little China
My rent went up $500 a month last December. $625 in the past two years.
My 352 unit complex has 13 vacant apartments because people can’t afford it. People moving here from wealthier areas drove up rents.
I hope something is done about this RENT RAPE.
These landlords won’t care if 14 people live in one unit or house, as long as they can make a profit.
Capitalism is failing the population.
I live in Canada, our housing crisis started about 5 years ago. Right now the trick to owning a home is to have bought one at least 5 years ago, the prices are ridiculous and it's pushed rental costs up. I live in Toronto and if you want to rent a one bedroom apartment you're looking at over $2000/month (CDN$, obviously) here.
We are already in the big crash, Inflation is a
catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated.If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
I think rents will follow housing prices (down). In Hillsborough/Pinellas FL area – some 40%+ (3200 listings) of the homes/condos for sale are VACANT, and that number is increasing – many of which are/will be offered for rent also. Double-digit rent growth/appreciation YoY is unsustainable. Home prices are going down, and so will rents IMO. We are still early in the cycle and there's a disconnect between what sellers/landlords want and what buyers/tenants are willing to pay… stimulus, rent moratoriums, forbearance, interest rate hikes, wage gaps, inflation, low consumer confidence, mass migration, institutional buyers, and pandemic all play a part in this mess. Party's over.
Here in SoCal higher rent is pushing people out to relocate to a cheaper area. Many people move back to live with their parents. They don’t have to rent in that market necessarily. Look at the wave of apartment constructions during the past decade and a overflow of inventory. Short term, your assertion is right. Medium to long term, with more supply than demand, institutional landlord forced to sell because of negative cash flow, more liquidation, I don’t see the the housing price and high rent sustainable. Something big is brewing.
This is why Kiyosaki is wrong. Your primary residence is indeed an asset when you consider the only alternative is renting. Of course there are liabilities (mortgage, taxes, maintenance, repairs) but in the long run, you eventually pay off the mortgage.
good stuff
you forgot about the people who have been forced to live on the streets instead
rent = theft
Bought a house one year ago. 3.25% 30 year fixed rate. My payment including PITI is $1,074 a month. Never selling this property. That cheap mortgage is going to feel like nothing in a few years.
Nobody will sell their house and get burned with rent prices going up.
The south border under the demorats let over 4 millions of immigrants in. That's a lot of renter's. Thank Biden
My rent usually goes up 3-5% every year. This year, it went up 11.2%. When I asked why, they said to keep up with the market.
I think it's interesting to see all the apartment construction going on too.
love u
By next year we will be in another housing crisis. House prices will fall more than 50% in many markets. San Francisco has already experienced a 20% drop this year and it's only getting started. San Francisco is the epicenter of house price declines for California and it moves like a wave outwards. Just wait for the really good deals. I bought a $400K house for $127K in 2011. Don't be fooled, it's the same setup this time too. History doesn't repeat, but it rhymes.