In the US, if there is a crash it will only be regional. Look at an "overvaluation" map. Places like North Carolina, Florida, Boise, and Colorado where it is 40-70+% overvalued now will maybe see something of a crash, but I don't think it will be insane. But places on the east coast like NJ, PA, and NY, where it is only 8-12% overvalued will see more of a modest and gradual leveling out.

I hope we can go back to 3x or 4x median wage like it was back in the day. Hell id take 5x.

House prices in the UK will never fall substantially. Labour and the conservatives are both very much in favour of lots of immigration and both make it really hard to build houses, thus there is always extreme demand.
Everyone who is not rich in the middle East, Africa and the Indian subcontinent are desperate to come to the UK and will continue to risk their lives to do so.

If there is ever a fall in house prices, they will be snapped up very quickly by investors and then rise again.

If there is one thing you can take to the bank in the UK, it's the fact that there will always be enough immigration to create a demand.

Rich people need to learn to relax, orgasm, and cum. Lately they’re all acting like angry edge lords who derive pleasure from being anal retentive.

Stop being greedy. Stop spreading fear. Stop scamming. Just let the market correct itself, you wanks.

Make the housing crash happen on purpose. Fuck investment holders.

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happy top be in the 8.1%

In New Zealand (where I'm from) we also build our to biggest cities in not ideal locations; Auckland located on an isthmus, and Wellington surrounded on three sides by mountain ranges, there simply is no more land without building way outside the cities limits or redeveloping the existing on a large scale.

Where do we hit the reset button on this housing market, cause at the moment (and for a long time prior) its pretty much BS.

Have they started to construct the sort of housing needed for lower-middle income groups?
Nope, still not able to build those by regulation… welp, get used to more overpriced ticky tacky homes everywhere….

you need to clear out all those ugly single family dwellings and replace them with multiple family palaces. Oh, and ban car drivers. Not the cars themselves, just the drivers.

Let the market CRASH!

Shout out to NZ lol

Well, we let the private sector handle housing, so… I digress.

Its pretty sad just how much of a pyramid scheme housing has become in sweden since 2008, the "meta" strategy has basically been to buy and apartment, wait a few years and then sell it to buy a house.

My family who contributed to this problem by owning 5 plots of land (@-@)

Just about to buy a house at a record high and I hope it bursts soon. this is just unsustainable.

For the future, as I am sure it will get mentioned multiple more times, ShenZhen is pronounced Shen Jen.

Those who has liquid assets especially cash, can hold on till the crash comes and then buy a house cheap. But in general, majority of us will buy to stay. we just don't have that much extra cash to speculate. therefore those who used debt to speculate will be most affected.
this will benefit the rich even more and not only that, the rich who aren't very leveraged in debt for their assets, will get even richer.

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I'm not good at economics… But yeah housing shortages in the UK causing people not to be able to afford buying their own home… And the government looks like its set to keep that as a trend…but so is even renting…. People are renting out actual bs holes of houses for the majority of people's monthly incomes even having a roof over your own head is becoming hard without sinking into debt

We have more diposable income in the US……. HAHAHAHAHAHAHHHAHHAHHAHAH… Maybe the top 15%, but not the rest.

at last i can afford more than a store room

I'm sorry but…..ONLY 14% drop? When just this year they've raised 15%? That doesn't sound bad at all.

Welp…guess I'll live in mommy's basement for life

As a homeowner I hope house prices plummet in the near future. People need to start seeing houses as shelter rather than investments.

housing prices are one of the things that makes me feel the most divorced from governments and older generations. It's always so surreal to see doom and gloom news reports about falling housing prices, really shows who mass media caters to

he sure likes to say "you get the idea"

Tories and greedy home owners' puppets in the local councils wont let it

In Hong Kong, if we talk about buying a house, we get laughed at. You can sign up for public housing programs, but you literally have to be poor, and you are not even owning the house, you are renting it from the government for a cheaper price compare to renting from the market.

If you are a well-off middle-classmen (Who are too rich for public housing programs), you can signup for the Home Ownership Scheme (HOS), where everyone signed up gets randomly picked every year. If you get picked, the government usually offers you a few choices of locations to choose from where the apartment building is, then if you are able to paid off the mortgage, you own the house. So it is like private housing, except 1. The reason you sign up for HOS is because you can't afford private housing. 2. It is like winning a lottery as the number of available quota is around a thousand or two with more than half a million of people signing up for the scheme every year.

The government always tells us that there isn't enough land to push their bullshit reclamation project which will cause us hundreds of billions of dollars when all the available land are occupied by rich people three story houses and cargo ship containers.

Not if the firms with a bunch of investor's cash buys them up without having to worry about taking out loans.

Just before the 2000's I saw house prices in my area go from 80k to 140k by the time I was ready to seriously look at buying and went to hell with that I'll wait for the prices to go back down as that's insane even when I was earning a decent salary at the time….20 years later I'm still waiting and that house is now worth over half a million…but even though I've done well increasing my earnings house prices out paced increase on earnings year on year on year.
Even now earning well setting money aside (Not into savings because zero interest but investing and yay here comes recession…ffs..) I still can only dream of owning half a house if I'm lucky, it's obscene and needs to crash back down to reality.

I kinda hope it crashes. Maybe then I'll be able to afford a place to live and I'll finally be able to get out of my depression. The current house prices are a mental burden on so many young people, so I think it would be a good thing if things went back to normal.

Reminds me of folks paying thousands over MSRP for new cars. If you need ("need" being the key word) to make payments YOU CAN'T AFFORD IT! Dummies. 🙄

Whatever happened to "live within your means"?

2:15

The opposite happened to me. I bought my house because my landlady decided to sell our apartment while the prices were inflated. Would've been homeless if I didn't find another landlord selling his housing inventory to exit the rental market.

I hate house-hoarding landlords with a passion.

Honestly it’s a necessity or we’re going to have a revolution…

14% drop after a 300% increase isn't anything to bother about

The historic mark for a successful and growing country used to be a median ratio of around 2-4. This means that nearly everyone can afford housing with funds left for purchasing and investment. Better housing availability and more flexible income remaining means more money moving around, means growing economy.
Best case scenario, housing prices fully stagnate for at least 10 years while income grows quickly. Worst case scenario, prices continue to rise faster than wages leading to massive, inescapable collapse.

I live in the US in a fast-growing area that is a collection of small cities that all border each other, so it is hard to tell when you leave one city and enter another. My particular city grew from 35,000 to 55,000 from 2010 to 2020 and is projected to hit 75,000 by 2030. The single-family housing market is not keeping up. A lot of the housing demand will be handled by building apartments, but both single family housing and apartment construction has slowed down because of lumber prices, etc. and a few of the towns making up the metroplex have put a temporary moratorium on more homes being built till the water and sewer infrastructure is upgraded.

In a situation like this, I am getting calls, emails and texts from realtors wanting to sell my house because they have a buyer desperate to buy with very little inventory available. But that is not true for my entire state as a whole. We have 75 counties and only 16 of them increased in population from 2010 to 2020 – the rest stayed about the same or decreased in population, although the state as a whole increased in population. IDK for sure, but I would imagine that in some of mostly rural counties where populations have declined, the housing prices may have already dropped. Looking at statistics on a state level averages this out and ignores these county differences, and I am sure that looking at statistics on a national level is equally inaccurate.

I do feel badly for the first-time home buyers who are looking to find a less expensive "starter home". These are essentially not being built because the builders are having a hard time keeping up with demand and are focusing on the middle to upper-level houses because they generate a bigger profit. The first-time home buyers are forced to rent, and this demand is pushing up rental prices as well.

Yes I'm out of place to live in the city, it sucks

Let me start off by saying that I know very little about the international housing market. Only the US.

The most important caveat is that even a nationwide housing burst similar to 07 wont cause the sort of financial panic and recession. Variable rate mortgages are increasingly less common, and no where near as high as in 07. So that means that there are far far less people who need to refinance semiannually to avoid default. Thus even if borrowing costs rise, all those people on a 30 year fixed simply enjoy their locked in below market rate. Sure the value of their mortgage as part of a packaged security will decline, but you invest in mortgages these days for the income, not constant trading. That leads to the fact that CDOs, whose default destroyed the banking system, are also far rarer and significantly less marketshare. . Thirdly, we have a ton more banking regulation to prevent both the initial failure and cooperate living wills to prevent too big to fail situations.

I am skeptical as to the actual collapse for the main reason outlined in the video: there is no shortage of demand. Supply hasnt been keeping up, and people have the money and are looking to buy, especially as real estate is a good hedge against inflation.

some time in the near future 🤣🤣🤣 ffor the last 15 years 🤣🤣🤣

I really hope it crashes.

I live in London, I work full time, my partner works full time, we have some savings and already own a small flat. However, it is still almost near impossible to move to a larger home in the area. Stop people buying multiple homes, change ground rate, leases and stamp duty. Depressing.