What few people are reporting at all is the change in demographics in the US. By the time this particular housing pullback, recession, crash peaks, the average baby boomer will be 5 to 10 years into retirement and half of them will be passing away. This draw down in the population segment with the most capital (401ks), Realestate equity, and estate value will leave the us economy with a black hole of FINANCIALLY QUALIFIED demand. This Realestate correction may not be as deep as 2008, but there is no QUALIFIED demand on the backend to push prices back up and absorb high end inventory. Top down pressure will lower housing prices for the next 20 years. Think: Japan.

Contracts are written in an ambiguous language. Check out David Wynne Miller YouTube videos on parse syntax language contracts.

💯💯💯👍👍👍

I agree in a perfect world, but over the last few years a lot of these agents have not been good fiduciaries

The answer is very simple. Millennials don't believe in contracts. Joe told then that they don't have to honor their contractual obligated student loan contracts. I have been saying this for YEARS once student loan forgiveness started, that they would walk away from homes or ask Joe to pay the upside down of $100K on the homes they bought in 2021-2022. Millennials don't believe they have to honor ANYTHING and Joe/Nancy/ and The Squad created this new mentality.

We are currently in a housing depression, 2020-2023. The reality is that we are in the beginning mode of housing depression and we project a bottom in July 2026. This means that high property prices versus the actual value will reveal a stagnant asset. We may see for a period of ten years of -2-4% to 2-4% over this time period. There may be no home appreciation for three years. This is a real estate investment disaster, especially at 9% mortgage rates (2023).

Your comment and the attorney's opinion on contracts today was interesting. I could have used that when we sold and wanted out of contract. Our realtors did nothing to help us clearly they were/are in it for their own selves.

if you noticed, the new Case Schiller National index not at 12.99% YOY increase. This is about 5 straight months of lowered YOY. OF course, in a changing market, YOY means nothing as an increase is probably not consistent with the current tend in real time, but changing for sure. My guess, the YOY figures will go negative as we distance from the peak, which may show to be around mid summer. Once this happens and gets reported on, you may see some large sentiment changes in broad population.

Thanks Todd and Melissa for the video again!

Just like 2008, some places didn’t see much difference in prices while others crashed. People who think the whole market is going to crash is extremely foolish. I do believe some will, but other definitely won’t. There are a lot of variables that go into wether or not a crash is likely to happen in your area.

So far the experts and analysts have gotten it all wrong so far..
One thing no ones mentioned or taken into account is the all cause mortality rates in working age adults.
Whos gonna sustain these prices if working age adults are dropping dead, or developing debilitating conditions that prevent them from working?
Be Bold, speak the Truth.
Shits gonna crash, people are in a state of delusion & ignorance.
Willfully or not, burying your head aint gonna help anyone.

Sellers waited too long. Contractual addendums are not saving anything at this point.

Even if the Fed pivots in February of 2023, by that time so many people will be underwater in homes, cars, and their credit cards will be maxed out, they're not going to be buying any large ticket items for a while, many years, until those 25% interest cards are paid off, or, they file for bankruptcy protection and the banks begin to crumble.

and when the market tanked in the short-sale era, buyers also lost ground and did not have the money or energy to buy, so investors came in. rinse repeat. now buyers will sit still, thinking it will drop further.

"I don't see a big crash". Then you aren't looking at the full scope of what is going on. We are getting ready to have unemployment numbers go up, and it is going to DRASTICALLY affect the housing market.

First time buyer here. Can you please advise to buy or to wait ?

BLUF: prices are too high

Realtor are some scum sales men🤔🤨

Higher interest rates won’t just put us in recession; the US can’t make its debt payments. All of these issues are dominoes in a chain and this is going to make 2008 look like a tea party. I sold 20+ doors in three states in the last half of last year and first half of this year. Problem is now — there’s nowhere to reinvest. Certainly not that has cash flow.

But my tenants weren’t doing well. Nobody in 2021 could pay 6 months upfront for a discount. In 2020 they all could. I didn’t want to be a landlord anymore. Their problems become mine.

I have kept 3 doors. And my main floor newly renovated beautifully furnished and decorated beach 2-bdrm … took me 6 weeks to rent out. Granted I am picky. But we just didn’t have the interest level we did last time we were trying to rent a beach property. Nowhere near.

Great chat! You know, always love to see and listen to different perspectives and approach to this current market crisis we're facing. Keep up the good work!

My area in Arizona is down 20%+

So why did you have this guy Dave on you show? He seemed out of touch.

You don't know how important your channel has been to me and my wife.

We've lived through the 2000 and 2008 crash. 2008 almost destroyed us.

I'm scared but I feel my family is ready.

Thank you so very much

I have no sympathy for these house sellers. They are asking even now obscene amounts of money compared to just two years ago. To believe a house will appreciate by 100% or more in two years is just wrong. The People buying and immediately relisting homes for 100K more I hope eat those houses. I am seeing some houses come down – but they are WAY overpriced comparatively to what they were and should be even at the new price. So instead they have reduced the profit from 100K to 70K, it's too much.

And as far as recession, we are DEEP into recession already – just because the DEMS have changed the formula for "recession" just shows how corrupt they are. Just pray we don't go into a depression, because it's looking like it now. I'm projecting industry wide massive layoffs in Jan. 2023 along with energy, food, and durable goods shortages going from then through at least the end of 2024.

Thanks Todd & Melissa for speaking the truth …. Thanks!! 💯💯🐼🐼

If the AI can reasonably price a property and the seller can advertise on zillow or trulia there is not much left for the RA. Just a thought for the future of agents if the AI gets good at appraisal.

Fomo realtors are not talkn down their clients so houses go initially waaaaay too high and just sit dead money. Peeps (buyers) arent going to prop this crap market up anymore.

I read Dave Thurston as a guy with a lot of money, who doesn't know how to walk through a grocery store or pump their own gas. Out of touch