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THE 2022 HOUSING MARKET:
On the most basic level, we have the numbers that everyone is talking about: Mortgage demand fell to a 22 YEAR LOW as rates have almost doubled from a year ago, mortgage applications are 18% lower than the same week in 2021, and refinances saw an 83% drop year over year.
BUT - the one piece of data that matters the most, is that for the first time since prior to the pandemic, Median prices have started to DECLINE, MONTH OVER MONTH, with prices now $10,000 LOWER THAN THEY WERE, JUST A MONTH AGO.
As the National Association Of Realtor's explains, the ongoing sales decline reflects the impact of higher mortgage rates, which peaked at 6% in early June, before now declining back to 5%. This increase SEVERELY impacted the number of buyers in the market, with total housing inventory having increased 4.8% from the month prior - meaning, with fewer homes being sold, there’s more AVAILABLE for buyers to chose from.
HOWEVER, even though they ADMIT that “we're witnessing a housing recession in terms of declining home sales and home building”….nearly 40% of homes are still selling at full list price, and properties were staying on the market for a record low of just 14 days in July.
On top of that…82% of homes sold were on the market for LESS THAN A MONTH…suggesting that, even though prices ARE beginning to fall…they’re not declining as fast as most people would expect.
In terms of falling home prices, The largest drop, so far - was San Jose, which recently fell 4.5% MONTH OVER MONTH, along with Phoenix Arizona, San Fransisco, Austin Texas, Sacramento, and San Diego - while areas like Miami, Richmond, and Memphis, Tennessee actually saw a slightly INCREASE.
On top of that, Zillow REVISED their forecast to show home price growth at just 2.4% throughout the next 12 months - which, WHEN adjusted for inflation - is likely going to mean: REAL PRICES, OVERALL, WILL PROBABLY DECLINE.
Moody’s Analytics ALSO believes that a large portion of the market will see a decline throughout the next year, with the most “At-risk” housing markets being the ones that saw the MOST home appreciation over the last 2 years.
That’s why, the way I see it - unless you live in a highly speculative market - most likely, some softening is healthy, and it might be a good opportunity to negotiate a lower price on a property that’s otherwise perfect. Besides that, though, I wouldn’t worry about a catastrophic real estate collapse, BUT, personally - I would only buy a property that you intend to keep for at least 7-10 years.
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By Stock Chat

where the coffee is hot and so is the chat

28 thoughts on “It started: the housing market is collapsing”
  1. Avataaar/Circle Created with python_avatars Steve Fink says:

    The autombile market is hugely out of balance and teetering on a huge collapse. The numbers are in, massive default is setting up right now. Save your money and there will be cheap used cars on the market soon.

  2. Avataaar/Circle Created with python_avatars Fiona Marcotte says:

    So many bots on finance channels 🙄

  3. Avataaar/Circle Created with python_avatars HopelessPoptart says:

    Living in a rough place I understand where you come from Graham
    But you should not miss Amazons AMZ75X release which was just a few hours ago.

    Something like this has its own playground in this market

    I'd put all bags on that when I know that such a powerful brand and project is behind it but that's just me

  4. Avataaar/Circle Created with python_avatars Jackrabe says:

    As someone with kids, I think another big issue is summer is over which plays a big part in people's decisions on both parts. buyers and sellers ..

  5. Avataaar/Circle Created with python_avatars AndrewTube says:

    I think its about time that people realizee that single family home with a picket fence and backyard is not your right, it is a privilege (which you are not entitled to)

  6. Avataaar/Circle Created with python_avatars The LA Trainer says:

    Every Graham Stephan video: Watching Graham wave his hands at you for 10 minutes while saying reasonable things.

  7. Avataaar/Circle Created with python_avatars Oh-its Ace says:

    i cant help feel bad for anyone having to sell their homes to survive, just to see graham photoshopped thumb nail role play for clicks and never mentions if he is or is not selling his own house. after watching this i can confirm he is not. if he following his own words.

  8. Avataaar/Circle Created with python_avatars chris says:

    You should get a ftx tattoo on your forehead then I’ll sign up

  9. Avataaar/Circle Created with python_avatars Nick says:

    SCAM ALERT. These people are spamming amz75x. Funny enough the scam bot replies to their comments. Lol it’s like battle of the scammers.

  10. Avataaar/Circle Created with python_avatars Educated Capy says:

    You know nothing bro when it come to housing

  11. Avataaar/Circle Created with python_avatars lukasz wolski says:

    I like you, but slowly getting tired of shilling FTX and SBF

  12. Avataaar/Circle Created with python_avatars Gamer SHIVRS01 says:

    I caught the “what’s up Graham, it’s guys here” at the beginning. Great video though! Thanks for your hard work & research! 💯

  13. Avataaar/Circle Created with python_avatars Educated Capy says:

    You need to learn from meet kevin

  14. Avataaar/Circle Created with python_avatars Educated Capy says:

    You are the worst one when it come to housing market. You are the greedy one.

  15. Avataaar/Circle Created with python_avatars Sunshine says:

    This is the beginning of the end for this channel. Regurgitating the same &hit in every video

  16. Avataaar/Circle Created with python_avatars Thet Htar says:

    Don’t fall in his trap guys. His large portfolio is in housing market. So he will keep saying the same thing. At the end of the day, he is a Radom YouTuber who is making money by uploading videos. But I use as blocker lol

  17. Avataaar/Circle Created with python_avatars Thet Htar says:

    But you know that Americans’ debt is on heat now

  18. Avataaar/Circle Created with python_avatars Thet Htar says:

    Lol. He is still hoping housing market to go up.

  19. Avataaar/Circle Created with python_avatars pal pal says:

    Wtf is up with these bot comments taking over.

  20. Avataaar/Circle Created with python_avatars We Break Cars says:

    FTX is using customer funds to push through their expansion and growth. They are operating on fractional reserves. DYOR

  21. Avataaar/Circle Created with python_avatars Tadas Strikauskas says:

    Hello Graham it's guys here?

  22. Avataaar/Circle Created with python_avatars B N says:

    “What’s up Graham, it’s guys here”? 🤪

  23. Avataaar/Circle Created with python_avatars AMC HOLDER 25 says:

    Interesting.

    If it has gone down, I can invest in real estate.

  24. Avataaar/Circle Created with python_avatars The SW Family says:

    I’m under contract on a new construction 3br 3ba home under $300k. Even though it may not be the most “ideal” time to buy, I think if you plan on living in it for a long time, it will be a good investment no matter what. I have to trade city life for country life and move out of state, but I’m happy! As a first time homebuyer, it’s still cheaper than renting where I currently live.

  25. Avataaar/Circle Created with python_avatars BogdanM says:

    Didn t FTX US just get a cease and desist?

  26. Avataaar/Circle Created with python_avatars Edgar Sanchez says:

    *clickbait *

  27. Avataaar/Circle Created with python_avatars Whywouldi Givemyrealname says:

    The fact that I was promised an article about a seal breaking into a house and it's not in the description kind of pisses me off, not going to lie.

  28. Avataaar/Circle Created with python_avatars Μαιρη Βουλγαρη says:

    I think AMZ75X needs more mentions right? riightt?

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