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Wow, this is crazy for the housing market crash. The federal reserve just released a report that consumers are now expecting mortgage rates to skyrocket. Take a look at this expectation right here. Households expect the 30-year fixed rate mortgage to rise sharply in the future to 6.7.
On average, a year from now and 8.2 in three years folks, despite this, consumers somehow actually expect consumer home prices to grow 7 over the next 12 months and rents. Not only are they not expected to go down, rents are expected to go up 11.5 over the next year. People are also getting discouraged. The average renter now reports the odds of owning a home at 43.3 percent in the next year.
That's the lowest read ever in the history of this new york, a fed report and it's down from 51.6 a year ago now, in my opinion, somebody's got to be wrong here. If rates go to 8.2 percent, that would be a full 5.5 higher than where we were at the end of december, which is a removal of 55 percent of buyers, purchasing power and there's no way. Prices go up in that sort of environment, especially as the wedge between fair value, rents and fair value. Home prices widens that is home, prices, have kind of run away from fair value rents, and we actually expect rents might continue to tick up as home values.
Tick down, so we can finally marry the two again realistic home values with with rents that are appropriate for those home values. Now i know some people like to say: oh, but rates used to be eight percent back in the 80s. It was fine, then uh yeah. Well, home values were also substantially less expensive.
The median price for a home was about a hundred thousand dollars today, it's over 4x event and we just came off a rate sitting around 2.8 at the end of last year, setting a lot of high real estate comps higher mortgage rates, especially if we start crossing The six percent threshold - bad eight percent devastating now i'll - tell you exactly what i'm doing with my real estate portfolio right after a message from our sponsor. Now i want to tell you about a company i really have been excited about and that company is coinstats. Coinstats is the best place to manage your crypto and d5 and crypto portfolio all in one place, so you can connect coin stats to all of the largest wallets, like metamask, just partnered, with apple pay and ledger. In addition to exchanges like coinablecrypto.com and blockfy coinstats lets, you have one dash card for everything that way you can simplify your finances and get the whole picture of.
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They also take the most advanced security features available to help protect your holdings. So thank you to coin stats for sponsoring today's video and make sure you check them out in the link in the description down below for a special offer from coinstats. So what about my portfolio so i'm selling, but i'm only selling high, because i'm preparing to buy low, but now for a quick update on me out of 27 properties that i had. I have already sold 11 since january. I have four more in escrow. I plan to keep my house my dad's house, my work home and two renovation projects. That's five in total, so i'm gon na keep five. That means i have seven properties left to sell, and four of them will be less than the next two weeks with three more coming within the 30 days thereafter.
So, ideally about 60 to 75 days from now i'll, be down to three keepers and two projects and the rest of the money is going into medkevin.com series, a which is a really cool startup that i'm super excited about. And if you want to learn more about it, when we're ready to announce it make sure to go to metkevin.com series, a drop, your email.
New York based real-estate investment trust "Chimera" is not liking higher rates. Symbol $CIM. Mortgage product sellers is a probably where real-estate re-pricing begins.
This monopoly game of housing, investors hoarding single family homes, is only making it more difficult for average people to own a home. It’s a dog eat dog world.
Home prices aren’t going to come down until lumber prices do
Politicians got a 20% wage increase. a lot of shity jobs probably got about that increased to
Thats because the dollar will have a lot value due to inflation. Wrong, Kevin. Mortgage rates were 20% in 1980. 8% will look cheap in a year. Buy all means, by on the dips. This is not financial advice and thanks for your donation to the market.
The problem with all of these real estate predictions everywhere is the forgetting of the wild card call supply chain.
Rents won’t go down. Too many greedy landlords who care nothing about renters or making them homeless.
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Interest rates alone will never crash a market !!! There are so many contributing factors. In fact, many buyers don't really care about interest rates, they just want to buy a place to occupy.
Get ready… forget about courses Kevin's getting ready for you to invest in "great deals" with him
Let it crash, I missed refing my house when at ATL and I wouldn’t mind pick up some rental property’s at a better deal
We are defiantly going to see a crash hope I have plenty of cash ready
So how will bringing in 18,000 illegal immigrants a day help this situation? Where will all these people live?
This just sounds like consumers don’t know economics and expect every worst case scenario.
@meetkevin How do i message you on the bloomberg terminal?
It’s a different time. The reason why? We now have corporate companies buying homes more then they ever have. It’s beyond rediculous!
Boom! Crash! Recession! Inflation! Correction! Inflection point! Sell! Buy!
Key words for My kevun drinking game…wanna join??
32 yr old own 1 house refinanced at 30yr fixed %2.6 last year dont care about the price. I live in my house with my kids not willing to sell in 20 years. Do I need to worry? No. May God help who does
Kevin I'm ready to invest in your business. Go public and take my money!!!!
2 YEAR BEAR MARKET,,,,,,,,STARTED IN JAN,,,,,,,,,TAKE SHELTER ITS GOING TO RAIN,,,,,,
I don't want a total crash as I just purchased a home in 2021, however I didn't go above my budget and am paying a very reasonable price for a very good interest rate so no complaints from me
2022 will be the year of everything crash: Stocks, cryptos, and housing. 2023 will see the fallout in the form of a deep and lasting recession that will extend into 2024 or so. And stock returns are going to be sluggish for the next ten years if our economy is able to endure the onslaught of crises that are heading our way. For example at the height of the dotcom bubble the Nasdaq hit 5,000 for the first time in 2000. Then the bubble burst, then 9/11, then two wars, then the credit crisis all occurred. The Nasdaq didn't hit 5,000 again for fifteen years in 2015. This is an idea of where we are heading again.
Prepare or die.
I've been living in Latin America for the past 18 months while I get my stock trading going and while I watch the price of housing in the US come crashing down. I figure another 12-18 months should put me in a sweet position to go back to the states and have some cash and income to take advantage of the looming economic crisis that is coming.
Dang your videos have gotten so short? Is it because you’re pumping so many out for the other channels? :/
You think a couple people during the pandemic not paying rent then using that as an awful excuse to raise rents is bad wait until which is very soon when no one will be able to afford anything. Riots murder homelessness poverty all in the name of greed.
If the average Joe has cash ready to buy the dip, there won't be a dip.
Mark my words – in bubble areas like Austin, Nevada, Florida, etc where you have seen 20%-40% YoY increases for the last 2 years….the prices won't be sustainable with 7%-8% rates
The dude has sold 80% of his properties ! Yeah, he believes this market has peaked.
Doesnt kevin always say that housing prices drop by 10% per 1% interest? If interest goes to 8.2%…… just saying.