Sign up for a chance to earn a Tesla Stock + Get a Free Stock worth up to $50 on Public: http://www.public.com/graham - Enjoy! Now - lets talk about the real estate market, and where this might go in 2021 - Add me on Instagram: GPStephan
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Right now, there’s a concern that 2.5 million homeowners are still in forbearance, meaning - they’re not making their payments and they’re protected from foreclosure…there’s a surplus of tenants who are unable to pay their rent…and the worry is that, IF evictions and foreclosures were to all happen at once - that would cause sudden and drastic economic hardship to millions of people, and that - in turn - would be detrimental to the entire economy.
So, in an effort to provide people with enough runway to get back on their feet - a new proposal was issued from the consumer financial protection bureau to be effective on August 31, 2021….and here is what this would entail:
First, this would only be applicable for a homeowners PRIMARY RESIDENCE - so, investment properties would not be eligible.
Second, this would be open for anyone who attests that they’ve experienced financial hardship.
Third, this proposal would allow for a loan modification that would give homeowners the option to EXTEND their loans in forbearance by no more than 480 MONTHS…which is 40 YEARS…without AN increase to that persons interest rate.
On top of that, fourth - if any portion of your loan is deferred, you would not owe any excess interest, and all fees would be waived.
And finally, fifth - this MUST be made available to homeowners experiencing hardship, which - again - is defined by the homeowner.
To top it off, IF a homeowner IS going to go through a foreclosure - this would extend the filing deadline by an additional 120 days, until December 31st, 2021…so, homeowners would get an additional 4 months runway to either sell their house, or figure out another plan, IF they were going to be foreclosed.
Right now, this is a proposal which is open for public comment until May 10th - but, if this goes through - this could be another HUGE catalyst for the entire real estate market, with some rather serious implication for ANYONE looking to buy or sell a house right now.
In the last few months, the yield on the 10 and 30 year treasuries have been going UP to due increased concerns of inflation - and that, in turn, has continued to push mortgage rates higher. This just means that, as mortgages become more expensive - buyers won’t be able to purchase as much home - and because of THAT, perhaps prices go down…but., that’s not happening.
Prices are getting pushed BACK UP for 2 main reasons - the first, is that housing INVENTORY keeps getting lower. We’re at the lowest level of housing inventory ever, in history…for reference, in March of 2017…there were almost 1.3 MILLION homes active on the market…today, there are only 493,000. That means, with less inventory - buyers will be FORCED to pay more while they compete for whatever is left over.
And second, as interest rates are going up - buyers are RUSHING to get something while rates are still cheap. The expectation now is that - over the next year or two - interest rates are probably going to be higher than they are today, so if you want to buy something - you may as well do that sooner than later so you don’t miss out.
Now, the RISK is that - sure, if interest rates suddenly go up, and everyone decides to list their home all at once - that could ABSOLUTELY cause prices to suddenly come down. There's no easy solution but most likely it will be another wild year for housing.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
*This is not investment advice. Public offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
Right now, there’s a concern that 2.5 million homeowners are still in forbearance, meaning - they’re not making their payments and they’re protected from foreclosure…there’s a surplus of tenants who are unable to pay their rent…and the worry is that, IF evictions and foreclosures were to all happen at once - that would cause sudden and drastic economic hardship to millions of people, and that - in turn - would be detrimental to the entire economy.
So, in an effort to provide people with enough runway to get back on their feet - a new proposal was issued from the consumer financial protection bureau to be effective on August 31, 2021….and here is what this would entail:
First, this would only be applicable for a homeowners PRIMARY RESIDENCE - so, investment properties would not be eligible.
Second, this would be open for anyone who attests that they’ve experienced financial hardship.
Third, this proposal would allow for a loan modification that would give homeowners the option to EXTEND their loans in forbearance by no more than 480 MONTHS…which is 40 YEARS…without AN increase to that persons interest rate.
On top of that, fourth - if any portion of your loan is deferred, you would not owe any excess interest, and all fees would be waived.
And finally, fifth - this MUST be made available to homeowners experiencing hardship, which - again - is defined by the homeowner.
To top it off, IF a homeowner IS going to go through a foreclosure - this would extend the filing deadline by an additional 120 days, until December 31st, 2021…so, homeowners would get an additional 4 months runway to either sell their house, or figure out another plan, IF they were going to be foreclosed.
Right now, this is a proposal which is open for public comment until May 10th - but, if this goes through - this could be another HUGE catalyst for the entire real estate market, with some rather serious implication for ANYONE looking to buy or sell a house right now.
In the last few months, the yield on the 10 and 30 year treasuries have been going UP to due increased concerns of inflation - and that, in turn, has continued to push mortgage rates higher. This just means that, as mortgages become more expensive - buyers won’t be able to purchase as much home - and because of THAT, perhaps prices go down…but., that’s not happening.
Prices are getting pushed BACK UP for 2 main reasons - the first, is that housing INVENTORY keeps getting lower. We’re at the lowest level of housing inventory ever, in history…for reference, in March of 2017…there were almost 1.3 MILLION homes active on the market…today, there are only 493,000. That means, with less inventory - buyers will be FORCED to pay more while they compete for whatever is left over.
And second, as interest rates are going up - buyers are RUSHING to get something while rates are still cheap. The expectation now is that - over the next year or two - interest rates are probably going to be higher than they are today, so if you want to buy something - you may as well do that sooner than later so you don’t miss out.
Now, the RISK is that - sure, if interest rates suddenly go up, and everyone decides to list their home all at once - that could ABSOLUTELY cause prices to suddenly come down. There's no easy solution but most likely it will be another wild year for housing.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
*This is not investment advice. Public offer valid for U.S. residents 18+ and subject to account approval. There may be other fees associated with trading. See Public.com/disclosures/
Thanks for this. I have thought housing prices were out of control in the US for over 20 years. To me it's ridiculous. Crappy construction, lousy materials and exorbitant pricing. Ripoffs are us.
Nice video, I recently started trading the Crypt0 market and I've been earning greatly from it. Although I'm able to achieve that by investing with BRENDA MCLEAN a FINRA regulated broker.
Nobody becomes a millionaire or a billionaire by working for others and depending on them. Good investment makes you a good entrepreneur as it brings millions of dollars, and consistency brings billions also. The market is all about BTC at the moment.
The wisest thing that should be on every wise individuals list is to invest in different streams of income, that alone would reduce the risk of you depending on the government funds.
I will really like more details on this, I'm new to trading and I don't understand how it really works. Can someone guide me on the right approach to investing and making good profit from trading?
SO thankful that I randomly decided I was ready to buy a home a few years ago, just as the market started to finally recover! It's now worth 130K more then I paid, but I love it too much to ever sell ❤️🏡
My dad is the landlord for some properties with his friends and I have my name on some houses. Him and one friend just recently put a somewhat large single home for sale starting at close to $500k. Now it’s gone up to over $700k with bidding. It’s 2 min from the grocery store and they have playground too in the neighborhood. It’s not rich people bidding mainly middle class families. We think it’s the grocery store nearby that is making people bid and possibly the playground too as most bidders had young children.
Another major factor at play that would help the whole situation is making it easier for people to build new houses. Not only are the cost of building materials at record heights, but state and local ordinances all over the country are in place to prevent affordable housing from being built, as it would theoretically bring down the value of surrounding homes owned by older residents.
This one's probably the most difficult to fix of all, as the voter base is old, and almost nobody is ever going to vote against their best interest (or at least what they assume their best interest is).
The spruiking of products, and your affiliate links to them is harming your position as a supposedly independent source of advice and news.
Real estate wholesalers can still acquire properties 50% to 80% off. Currently, I have a property under contract for $24,500 and it's worth $130,000!
Don't call people" homeowners" unless the house is paid off.
Otherwise you're just a house buyer.
Homeowners don't have a mortgage unless they're stupid.
Everyone is becoming poorer from this. Property tax is the kicker and if you sell to 'move on' where do you live? People that can afford to hang onto rentals may end up being the winners here. But again property tax.
Going forward expect new "affordable" homes to be super cheaply constructed.
Think trailer houses from the 1960s.
If you're a homeowner in forbearance you should make every possible effort to keep up with your payments. Skip the vacation, skip the new Truck… make your house payment.
Selling is not the issue. Finding a place to live, whether upsizing lateral or downsizing, is nearly impossible.
If you have a home DO NOT SELL!
500k view shows you people want to sell….😂🤣😆😂🤣😆😂🤣😆😂🤣😂🤣😆😂🤣😆😂🤣😆😂
They say it's low so why would you sell?
What about all the investment companies buying up thousands of houses with cash way over the value to be our landlords. I'm sure that helps.
My real estate agent told me it would be about 200k in regulatory burden alone in order to build a house in Oregon
why does the monthly payment decrease if the lone is for a longer time period.
Time period doesn't effect the interest rate so it doesn't effect the monthly payment. Unless the interstate is charged overall, meaning if you have 3.5% interest you need to pay back 1.035 times what you borrowed in the beginning. But that would seriously be idiotic and i'd go burn the banks and government right away. Joking but can someone explain me what your mortgage calculater calculates?
This also means that if I sell my house I might not find one that's better or comparable to what I have that I can afford
We can’t find a house. 52 bids on the same house… what’s going on? We don’t want to overpay for a house bc if we want to sell later in, we will lose money.
I know it’s early but any idea on if the housing shortage will continue into 2021? Currently trying to buy a home now and it’s insane. Was wondering if next year will be any better.
Be aware…..there are foreign governments and companies buying much of the real estate too.
Our government allows a lot of this.
They need to put a freeze on investment homes and foreign investment. Let the people who actually want to LIVE in the homes buy them. This "let them eat cake" mentality is BS.
Let's not forget the foreign and domestic investors from Wall Street. They are also majorly effecting this issue.
Not exactly as analytical forecast shows. Sadly the real estate agents are not liable if they advise new home buyers to save their money for 2022. They are going to get extremely angry if in 2022 they lose 40% of their home value. They will probably walk out from the loan. Loans don't mean anything if you know how to utilize and create cash flow. All those new homebuyers are going to lose. Great gains for the real estate agents. Enjoy when you can. It' like buying a old toyota 98' for 20k. It's a free market.
All you have to do is check out the world economic forum. The goal is for people to not own anything, and to rob you of your individuality. All of this is extremely simple to see.
I wished you would have mentioned Florida…there is so many people coming here from other states, it's crazy, Californians, Ohio, Boston, Connecticut, New York , Texas..I though Florida was a boring state were people came to retire 🤔 there goes my state…the majority are Democratic states 🙈 oh no! 😅
Been seeing news that the reason for the low inventory of homes isn't because there aren't enough homes, but that they are all being bought by foreign parties (corporations, millionaires and billionaires) as a way to move their riches away from their own government's control, to own foreign assets and in some cases to rent them out at high prices. Anyone else see info like that as I am curious at the reality of such.