Flipping volume and profits are declining. Cash Out ReFi's surge to a new 12 year high of equity stripping. In my opinion these are ominous signs. If you are not looking at this huge opportunity to either invest in Real Estate or purchase a Distressed Property at discount prices for your primary residence, you should seriously consider doing this. Short Sales are Foreclosures have proven to be much more inexpensive in price – yes they may come with some challenges – however the discounts outweigh the issues. For more information on how to learn these techniques, please contact me via email at: (randy@luxuryshortsales.com). Since it the holidays, I am offering some nice discounts on my courses ….. contact me directly for details.
Suggestion: get a mic, you sound like you are in your bathroom.
My neighbor just dropped his house $15,000 after only 20 days on the market. I got my house nearly $20,000 below asking. I only bought because once the bubble pops I won't be able to compete with cash buyers.
good update Randy, thank you
So, you want me to take on a mortgage? Are you going to guarantee that my job is secure? That I'll still have that job 5 years from now? I didn't think so. More people are waking up to reality and deciding against taking that risk.
They're not saving money. Too funny. Simply living paycheck to paycheck has become much more pervasive and necessary than the last few generations. Times have changed. They were sold a bill of good based on the past few generations. It hasn't panned out for them.
Cant default on a student loan, it can be deferred but it will stay with the borrower and interest will balloon. IF student loan forgiveness happens it would be a different story. Chinese restrictions to funnel into our real estate and the “no skin in the game” student debt ridden, next wave of “buyers” are driving the real estate market down fast. It takes a little time to sink in but when it does, housing bubble 2.0 will pop like we have never seen it before! Its IS different this time, its worse!
Im a professional home buyer. We had a few homes recently that didnt pan out. Ive adjusted my offers and willing to walk away on numbers that are tight.
Home builder sentiment is up because they need positive propaganda to survive, or so they think.
@Randy Patrick, any chance that ‘equity stripping’ is happening as preparation for the recession? If a property uses value, but still cash flows, the value is moot unless you are forced to sell. If you have a few hundred grand in the bank, there is no need to sell. 😉
Trumps immigration policy preventing enough hard workers in home building industry.
I live in Miami, FL. And I’m waiting for the 2020/2021 housing market crash. Rent is way too high and also home prices. Are foreclosure back on the rise? Because I check Fannie Mae every week and not much foreclosures to choose from. Or do I buy now to lock in these low interest rates?
Thank you for another great video, Randy!
I remember those "on the house" blank checks that came in the mail in 07. History does repeat itself Randy. This is unsustainable.
The fact we have a rebublican pres concludes to me we will have a recession seems to be the pattern.
In my region (So CAL) I have seen inventory go down 35% – 45% in just two months. Very few "fresh" homes are being listed (surely due to seasonality, but it's still shocking how low the numbers are). Prices still look flat to me, but when looking at "sold" prices, I feel that they are actually still trending (slightly) downwards…despite the ridiculously low inventory.
Foreclosurer/fixers are overpriced in my area.
A house been on sale for more than two years the starting price was 2.5 mil and now 1.2 mil.. I think it will go down more.
Major outflow from SF bayarea either out of state/country, but slight decline in home prices and rentals! Manipulations by state Gov officials for sure… just check out Gas/Diesel prices Insanity 4 Real!!
Randy losing weight looks good man.
Hi there! NC here..
Appreciate your skillful reading of facts and statistics, plus your conclusions which make sense of the data.
I believe it will happen, but not prior elections
Thanks for the report Randy. Prices are declining here in California. However they are still prohibitively too high. I find it sad that people are using their equity foolishly. Those that did not learn the lesson in the last bust are going to get the message in the short term
Demand is still soaring, as are rents, so I'm not sure the path to houses dropping…I'd personally rather lock in a low rate/mortgage (with 20%+ down) than deal with rent increases. Inflation will eat the mortgage and it's basically a free house given we have 10% inflation per year. Nobody seems to be talking about that problem and why it makes a home more attractive. Student loans are going to be forgiven, and then homes will skyrocket even more. Sorry. I want homes to drop, too, but what I am laying out here is the likely outcome.
Flipping volume and profits are declining. Cash Out ReFi's surge to a new 12 year high of equity stripping. In my opinion these are ominous signs. If you are not looking at this huge opportunity to either invest in Real Estate or purchase a Distressed Property at discount prices for your primary residence, you should seriously consider doing this. Short Sales are Foreclosures have proven to be much more inexpensive in price – yes they may come with some challenges – however the discounts outweigh the issues. For more information on how to learn these techniques, please contact me via email at: (randy@luxuryshortsales.com). Since it the holidays, I am offering some nice discounts on my courses ….. contact me directly for details.
Suggestion: get a mic, you sound like you are in your bathroom.
My neighbor just dropped his house $15,000 after only 20 days on the market. I got my house nearly $20,000 below asking. I only bought because once the bubble pops I won't be able to compete with cash buyers.
good update Randy, thank you
So, you want me to take on a mortgage? Are you going to guarantee that my job is secure? That I'll still have that job 5 years from now? I didn't think so. More people are waking up to reality and deciding against taking that risk.
They're not saving money. Too funny. Simply living paycheck to paycheck has become much more pervasive and necessary than the last few generations. Times have changed. They were sold a bill of good based on the past few generations. It hasn't panned out for them.
Cant default on a student loan, it can be deferred but it will stay with the borrower and interest will balloon. IF student loan forgiveness happens it would be a different story. Chinese restrictions to funnel into our real estate and the “no skin in the game” student debt ridden, next wave of “buyers” are driving the real estate market down fast. It takes a little time to sink in but when it does, housing bubble 2.0 will pop like we have never seen it before! Its IS different this time, its worse!
Im a professional home buyer. We had a few homes recently that didnt pan out. Ive adjusted my offers and willing to walk away on numbers that are tight.
Home builder sentiment is up because they need positive propaganda to survive, or so they think.
@Randy Patrick, any chance that ‘equity stripping’ is happening as preparation for the recession? If a property uses value, but still cash flows, the value is moot unless you are forced to sell. If you have a few hundred grand in the bank, there is no need to sell. 😉
Trumps immigration policy preventing enough hard workers in home building industry.
I live in Miami, FL. And I’m waiting for the 2020/2021 housing market crash. Rent is way too high and also home prices. Are foreclosure back on the rise? Because I check Fannie Mae every week and not much foreclosures to choose from. Or do I buy now to lock in these low interest rates?
Thank you for another great video, Randy!
I remember those "on the house" blank checks that came in the mail in 07. History does repeat itself Randy. This is unsustainable.
The fact we have a rebublican pres concludes to me we will have a recession seems to be the pattern.
In my region (So CAL) I have seen inventory go down 35% – 45% in just two months. Very few "fresh" homes are being listed (surely due to seasonality, but it's still shocking how low the numbers are). Prices still look flat to me, but when looking at "sold" prices, I feel that they are actually still trending (slightly) downwards…despite the ridiculously low inventory.
Foreclosurer/fixers are overpriced in my area.
A house been on sale for more than two years the starting price was 2.5 mil and now 1.2 mil.. I think it will go down more.
Major outflow from SF bayarea either out of state/country, but slight decline in home prices and rentals! Manipulations by state Gov officials for sure… just check out Gas/Diesel prices Insanity 4 Real!!
Randy losing weight looks good man.
Hi there! NC here..
Appreciate your skillful reading of facts and statistics, plus your conclusions which make sense of the data.
I believe it will happen, but not prior elections
Thanks for the report Randy. Prices are declining here in California. However they are still prohibitively too high. I find it sad that people are using their equity foolishly. Those that did not learn the lesson in the last bust are going to get the message in the short term
Demand is still soaring, as are rents, so I'm not sure the path to houses dropping…I'd personally rather lock in a low rate/mortgage (with 20%+ down) than deal with rent increases. Inflation will eat the mortgage and it's basically a free house given we have 10% inflation per year. Nobody seems to be talking about that problem and why it makes a home more attractive. Student loans are going to be forgiven, and then homes will skyrocket even more. Sorry. I want homes to drop, too, but what I am laying out here is the likely outcome.