It’s Over: Why The Housing Market Is Screwed



Let’s discuss the 2022 housing market, the predictions made by experts according to MarketWatch, and why millennials are so bad with money. Enjoy! Add me on Instagram: GPStephan

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PREDICTIONS ACCORDING TO MARKETWATCH:

First: MORTGAGE RATES WILL RISE.
As of today, mortgage rates have increased from 3.2% to 4.4%…which, is NOW the same level we saw back in 2019. It’s no surprise that rates will likely go a LOT HIGHER as the Federal Reserve continually raises rates for the foreseeable future…meaning, either demand will BEGIN to subside…or, buyers will rush to lock in a “low” rate while they still can.

Second: EXPECT LESS COMPETITION.
“The combination of rising interest rates and rising house prices will push some would-be buyers out of the market, which may result in reduced competition after the summer buying season is over.”

THIRD: HOME PRICE APPRECIATION WILL SLOW.
For example…CoreLogic expects housing prices to see a 6% increase throughout the next 12 months…Realtor .com predicts another 2.9% rise…and Zillow says that “supply chain bottlenecks and years of under-building will keep inventory relatively low for the foreseeable future.”…with prices peaking at 21.6% in May, before slowing back down.

FOURTH: EXPENSIVE HOMES WILL BECOME MORE AFFORDABLE, BUT “CHEAPER” HOMES WILL BECOME MORE COMPETITIVE.
MarketWatch quoted that “There are more listings at the upper end, homes priced above $500,000, compared to a year ago, which should lead to less hurried decisions by some buyers.” It’s also predicted that, as mortgage rates rise…buyers will be forced to shop within a lower pew point, driving up the competition in less expensive neighborhoods.

AND FINALLY, FIFTH: FORECLOSURES WILL RISE.
However, as a real estate professional myself…I have to say…I completely disagree with one. Even though foreclosure rates HAVE been increasing….data from RealtyTrac found that “most of the activity is primarily on vacant and abandoned properties, or loans that were in foreclosure prior to the pandemic.” Across the US, only 1 in 6675 housing units falls in this category…and, if we look back historically…we’re still WELL under historic averages, meaning – fewer people are underwater on their homes, far fewer people are going into foreclosure, and more people than ever have equity from which they can cash in on.

I’ve mentioned this before, but – in the BIG PICTURE – even though higher interest rates DIRECTLY impact home affordability – other factors, like local market conditions, demand, inventory, inflation, tax deductions, population changes, new construction, and the overall health of the economy play just as big of a factor…so, rising rates ALONE won’t do enough to cause prices to decline…BUT, they can.

The issue we have, today, isn’t so much of speculation, no money down, and free loans to anyone who wants a house…but, instead…a shortage of inventory, strong demand, and THAT is pushing prices higher.

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31 comments

  1. EXPOSE
    The reason the house market is high is due to artificial and deliberate act by developers because they do not want home owner sale their house until they make sure they build a large number of houses and condo for rent or sell then they lower the price as opposed to individual sellers who already tied up by the fake high price only in paper as there are not actual buyer because of income and much inflated price.this is in all states including Atlanta Georgia so I suggest anyone who want to sell their house sell it now at reasonable price. Do not get fooled and tied yourself up with false information.

  2. Anybody else notice he said what’s up Graham it’s guys here 😂 not hating just thought it was funny

  3. You know you doing something right when the hate starts to roll in. Keep up the good work Graham 🦾😆

  4. Please SLOW DOWN, take a breath and deliver your information so all can understand; You’re starting to sound like Candice Owen. Relax and have fun with your message.

  5. So nobody’s gonna mention how he messed up the greeting? He said, what’s up grams, it’s guys here! Lmfao 🤣

  6. Let’s wait and see. So far all predictions on the market have been wrong. I feel definitely a crash is coming by 2023 though, unless Biden is super motivated to prevent another blow to his campaign.

  7. Bro houses are so expensive it's insane a house in the ghetto almost cost a million and homes in a decent area with a small property cost about the same how do they expect anyone to even buy a house who has a million laying around it's out of control

  8. Waiting for the "housing market is screwed" part of the video and I'm at the end of it. I am screwed for clicking on clickbait.

  9. Do you think more houses will be on the market in the future ? Seem to me that the rate will spike and people just won’t buy . People won’t sell because they don’t want to be underwater with there loans .. 25% correction hard to beu

  10. Gap insurance 4 a house so when u pay taxes on home it’s a value estimate so yearly so y do they go back several years @ a lower value then charge r creat another money manipulation of money stealing Suns like wat Trump does with his motel and wives hoes

  11. So essentially they priced out first time homebuyers and made it easier for people with more equity, cash, etc to buy a home… awesome…

  12. The high interest rate would always kill the housing market it is not going to change for the rest of the life.

  13. When no one can afford to buy a house then prices will fall. Simply put the market decides. Get it?

  14. Not sure about the US but I am in London, UK. There is inflation and although interest rates have gone up, they are still at historic lows. We have an excess demand and not enough houses here. We lack space and probably people to build the houses. I here about a housing crash every year. What is a crash anyway? 20%? Stocks are more volatile. Fact is, buy and hold and long-term you will do well.

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