What's he talking about the job market being great? People are struggling to get a job at Mc Donald's, lol
@Charles-yq8vv Says:
Home prices are not going to fall, certainly not in tier-1 markets. Stop waiting for it to happen, it's just not going to happen.
@KREEMTHEDREAM Says:
Yeah I have a theory the housing market will start to collapse. That whole increase on taxes and insurance every year. I also believe that many of these first time home buyers look at the fixed cost when they buy the home and think oh I can pay that for 30 years no issue, but they learn the hard way about tax increase, insurance and overall maintenance for a home. I myself was surprised when I had an excrow shortage and had to pay more eventually. Also increase in food / gas prices everything else I don't think many home owners budget accordingly to market conditions and they are barley breaking even at the end of the month. It's just my opinion.
@crankin77 Says:
Two recessions a decade? Show me a decade where this happened.
@mytruthbekind5793 Says:
If people and corporations would stop buying homes at inflated prices then wouldn’t that be a good start? I refuse. Taxes, insurance and maintenance costs increase. Why? $1m for a starter home in need of work? You can’t find homes below $500k. Insane.
@mytruthbekind5793 Says:
I enjoyed reading his book very much because I learned some things. It is not the be all, end all. It cannot be. Regular people don’t have a voice. Others are making decisions for us. When will we fight back and how? Don’t we need a voice and a say? How can we get it since we can’t buy politicians? We can’t buy lobbyists.
@deniseb222 Says:
Dude is high. The job market sucks. The jobs created are goverment jobs or part time. Credit card usage also the highest in history. Total moron.
@FreedomTalkMedia Says:
Nobody has cash because interest rates are less than inflation. To hold cash is to lose it. You have to buy things with it before the price goes up. At best, you buy things like rental properties that generate cash at an ever inflating rate, every year. Then you can get new and increasing cash that you can also quickly dispose of. End inflation and let interest rates be natural and people will hold cash. All we have to do for both of those is for the Fed to hold is balance sheet constant. In such a situation, prices would slowly fall as productivity improves.
@FreedomTalkMedia Says:
I think we need unemployment to go up a bit to pop this housing bubble. We need people to be forced to sell. I guess the other thing that could happen is over like 5-10 years, builders could grow the inventory through new construction.
@thedustincrdv Says:
When in the history of housing have homes went down 50% and stayed down?
@kelliephillips-gf1gj Says:
get him off your channel - this guy doesnt know what he is talking about
@mikefredd3390 Says:
A job is not a job is not a job. I’m not sure single metric captures this but the income distribution is what we should be talking about.
@KarrinaTaylorBrown Says:
This person knows nothing. Interest rates here in Northern Virginia never got near to 8%. 6.5-7% yes. We are trying to accommodate the next generation bulge after a derth of building in the last 10-15 years. Consequently, everyone that I know is seeing 3-7 contract offers on each listing that they put on the market for any house listed in the desirable suburbs of Fairfax County, Alexandria and Arlington and surrounding areas. He is correct that sellers are not selling because nearly all people with a mortgage are holding 3% mortgage and don't want to sell their house. However, there are many more new households forming than we have houses to sell them. All the local jurisdictions are making changes to the zoning code to accommodate people legally making rental units in their owner-occupied homes.
This really does not feel like 2007, when prices had climbed to the previous peak in real estate prices. At that time, buyers were using adjustable rate mortgages and "option payment ARMS" which they did not understand. Consequently, once people bought a home, then they realized that they could not afford it. Now, nearly all the loans are fixed-rate loans which people have to be able to afford to close on the loan. And, with the employment market being so tight, we are not going to see a quick fall in prices. If (the idiots) lower the mortgage interest rates, then the housing prices will go even higher. Not good.
I am seeing older, single-family homes come on the market - thank goodness. Many of these older homes are owned by old people who are leaving the homes - either their lives are ending, or they are downsizing and going to live in relative's homes, retirement homes, or nursing homes. So, we are seeing some homes come on the market in this section of the market.
Budget condo prices are starting to come down a little. The budget part of the market is always more susceptible to monthly payments. And monthly payments are high right now, and so the prices of these properties are falling, slightly.
Also, there are a lot of luxury homes, priced over $2M. The builders have been making money taking down smaller older homes and then renovating or building new homes. So, there seems to be an oversupply in this segment.
Rents are unbelievably high too. So, there is no relief in the rental market.
I do see a few more foreclosures than I have seen since 2009-2013, and I am helping people out to sell their homes who are under financial stress. So, there are a few more cracks in the market than we have seen recently.
Some salaries are really high. I can't believe it, but there are over 20 Fairfax County government workers making over $200,000/year. I just learned from a head-hunter that executives for non-profits, think tanks, and associations are being hired at $300,000-$400,000/year. Defense contractors are making a fortune, and with the recent "aid' packages, these salaries are going to go up.
So, folks are going to continue to have to pay a LOT of money, and beat out the competition to buy a home here outside Washington DC.
@NicholasBall130 Says:
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
@albinothug Says:
Morgan is dead wrong when he says “the stimulus helped the poorest Americans the most.” The stimulus caused inflation, which hurts people who own zero assets… aka the stimulus checks hurt (in the long run) the poorest the most.
@albinothug Says:
“Strong job market”/“low unemployment” is a joke. People are working 8 different part time jobs/driving for Uber, etc. Job market is weak asf overall… it’s a k-shaped job market just like the k-shaped recovery after Covid. Our overlords want us to own nothing, be dependent on government handouts for survival, and to vote for/accept communism. They want us all dead or enslaved 🫳
@daevdel2993 Says:
good economy? bro are u blind, deaf, numb? or u probably just live in another planet. bruhhhh. thafuk
@Memes-du3fp Says:
FJB!
@beablos Says:
The market isn't going drop because of increased interest. people already own their homes and wont give up a 2.5% interest rate to move to a 7%. all the increased rates did was reduce supply by limiting forward mobility. New home building is also subject to the same rate increases as well as being directly impacted by inflation. when inflation drops we will see a huge increase in housing costs across the board. Big cities with $1,000,000 starter homes has more to do with the cities them no longer being sustainable. If you want to get ahead you have to leave the city and buy a home now and eat the interest then refinance the loan when the rates improve.
@MissBabalu102 Says:
The thousands of jobs found on INDEED are crap jobs, either $20/hour or just nonsense at a higher level.
@olivia_jane13 Says:
Sorry, but, no. The covid stimulus checks we got are a broken down used car. They amount to nothing.
@fpm8338 Says:
Look at those BIG ass ears
@mrsvenvath Says:
These people that speak, like only America exists, make me laugh, housing has never been cheaper in a lot of countries at the moment.
@user-gy3vf9le1u Says:
Boomer Delusion is about to end with them.
@corbinwalker7543 Says:
"Households in general are in better financial shape right now than they've been in a very long period of time" biggest crock of shit ever I cannot stand yuppies.
@SuperSattwik Says:
houses are selling well over asking prices.
@Mr-sweeny Says:
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
@edmonddantes1761 Says:
Low unemployment? OK then why are all tech companies laying people off in the 10s of thousands.... better financial shape??? Is this dude smoking crack???
You don't have record high recession rates and mass firings with a 4% unemployment rate I dint carr what the gov wants to put out there for better PR.... trillions in stimulus???? Na man that all went to ukraine
@milenkovskim9939 Says:
😅😅This dude fell in love with Presidential candidate Kennedy 😅😅, people for attention will imitate even monkeys 🙈 😂😂😂😂
@michaels2502 Says:
Love Morgan’s books.
@sixbat282 Says:
Ever time you here you shouldn't buy a house now, you probably should. When interest rates go down late this year early next, the market is shooting up again. Get in now.
@Navak_ Says:
wait by this logic shouldn't home prices have gone down CONSIDERABLY in the late 70s/early 80s when inflation was really high? you say a 3% to 8% jump should cause a "30-50% drop" so surely the 18-20% rates we saw back then should have caused equal if not greater damage, no? but home prices did not decline in that era, did they?
@Calidastas Says:
What a clown. The market is very spotty. Whenever I see someone talk about “real estate” or “home prices” I know they’re a clown. I’ve developed real estate since the ‘08 meltdown. Every market is different. Even between different sized homes in the same market. Even within different neighborhoods in the same city. You talk about things at too macro of a level.
@opuadaabusi7354 Says:
The argument that rates and home prices cannot be high at the same time because it hasn't happened before is weak. Demand, population growth, education levels, employment opportunities, and an army of home owners with <3% mortgages is the perfect recipe for the current situation to continue indefinitely.
@valeriejacovides6246 Says:
Who gets a yearly 8% rate?
@bmoreblondie6301 Says:
We are waiting but for how much longer can we wait for idk
@sne47 Says:
I got out of touch, wolf of Wall Street ‘vibes’ with this hustler that’s got plenty of money in the bank and all smiles… yuck
@thanks4that261 Says:
Bad guest. He sucks.
@ChopperChad Says:
Been looking all my life for a backwards hat but every one I find is front facing. I don’t get it.
@BD-xi1tv Says:
People are in big financial trouble today, economic trouble is here.
@OOCASHFLOW Says:
Interesting but no idea who either of you are. This could really use a show description
@oliverallen5324 Says:
Imagine remembering the world before the Federal Reserve, and before the petro-dollar. The world existed before 2001. Boom busts are a Keynesian phenomena, and not inherent to capitalism or representative democracies.
@bellmattwebb Says:
It seems like the overarching system is the actual problem. 🤔
@danieldillon6436 Says:
Not true, I bought a house in 1992 and the interest rates were 9.5 % and the house was very over priced.
@factchecker1980 Says:
The BEST TIME to buy a house is always NOW. Don't use your hard earned money to pay off your landlords mortgage and investment.
@TheMountainBeyondTheWoods Says:
He's right about the housing market and recessions, but outstandingly wrong about the job market, the economy, the covid money, the mood of the people, and how everything is so good.
@mmtaraval Says:
lol, poorest people gained the most? This dude is smoking crack. Yeah, if I went from having 0 to $1500, that's a crazy high percent increase. Joker
@puddintame7794 Says:
If the government says the unemployment rate is zero... and cities are being gutted.
Is it racist to notice?
@thefutureisplaid3346 Says:
This dude clearly has no idea what he’s talking about.
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