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Every person buying right now has a unique situation where their boomer daddy helps them with a fat down payment or they owned before the pandemic. That’s it. The musical chairs will end eventually while the middle class is being sucked dry. Eventually the money runs out and everyone is ruined. This is caused by a failed financial system. This will happen. Just a matter of time. The government picks the winners and losers.

Peoria IL is very affordable.

The most interesting part of the video was the crashing rent prices in the last four months

Well my friends, they printed to the moon during the coronavirus and swamped the country with so much cheap money the sugar rush was insane. They sucked demand forward all the way up to 2035. This hangover is going to be massive. Just as the regional banks are sitting on low yield Treasuries that need to be re-priced and will be a bloodbath in the banking sector, real estate will have a grand re-pricing event that will cause pain for many investors and owners looking to offload properties. Throw in the sprinkles of an election year and this economic sundae is rotten.

One factor that she left out…..population growth! It continues to increase!

Phoenix is a ludicrously overpriced property market. And has been ever since 2000. The US as a whole has learned nothing from 08. Bought our house in 08 for just over 200K. Houses in our hood have been selling for over 450K over the last year. There is no justification for such a ridiculous increase of over 100%. Salaries sure as hell haven't increased by that much. There is no way people can afford this.

I know you’re a real estate agent but can you transform to a geologist for one show & breakdown the water situation in Arizona. I know I’d appreciate more info on that subject before making a large investment in the desert.

What about hedge funds and companies buying homes??

How can i look at cromfort reports for a different area in the US

Im seeing a lot of homes that were bought in 2022 listed with price cuts in Surprise.

It appears some types of homes are already back to the 2021 price levels, I keep my eye mainly on Gilbert, and the small yard stacked houses have definitely recessed

our time has come...

People can’t afford overpriced homes that are listed for more than twice what they’re even worth.

35% down payment ($127,000 down payment), or 24 years of savings. That does not describe the average American. 😂😂😂 Gift money is gone. The housing reset continues!

With a roughly 60% increase in inventory from this time last year, alarm bells should be ringing for sellers. I'm seeing so many listings just sitting with many vacant and little or no price reductions and sold comps much lower than their asking price. These sellers need to wake-up if they are serious about selling. They will end up chasing the market as it goes down if they don't set a realistic price.

Price your house at pre-pandemic prices and watch it fly off the shelf! 😂 The past 4 years wasn’t normal economic reality, you’ve got to go back to 2019 or earlier. It’s going to take years of slow declines before sellers face this reality.

I’d like info on seller financing

We can only hope so!

Why do you act like corporations aren't buying up the homes. Housing msrket isn't going to 2007 levels

Realtors are paid as a percentage, why on earth would they put the same effort into selling a 350K house on 44th and McDowell as they would for essentially the same house with fresh paint and new countertops for a million at 40th and Thomas one mile away? The process is the same. Realtors will happily ruin your life financially so they can get another few grand in commission.

Because so many people overpaid for homes during a period when interest rates were low, I believe there will be a housing crisis because these people are in debt. If housing prices continue to fall and, for whatever reason, they can no longer afford the house and it goes into foreclosure, they will have no equity because they will not make any money if they sell. I feel that many people will be affected by this, especially given the predicted mass layoffs and fast rising living costs.

Back in the day, when I purchased my first home to live-in; that was Phoenix in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

Wait til Phoenix hit 120 degrees in winter. Will see fire sale prices! Keep pumping our atmosphere with carbon folks!!!

Buying a home today is bad investing unless it’s all cash. Cheaper to rent than buy 😜

Bidenomics, ...end of story. :(

Hahaha, keep schilling keep hustling the RUclips channel 😄 😆 🤣 😉

When you make the 94% percentile in income and can't afford a typical 3B/2B 2,000 sqft starter home in Gilbert...yeah, the AZ RE market is trash

Why do you compare 2007/ 2011 properties under contract for 2024, yet there's no comparison of inventory/active listings. Of course you're going to have lower properties under contract when there's lower inventory, higher rates.

I love the market because im not going anywhere, ive lived in central PHX my whole life, bought the house across the street for 60k, bought the one across the alley for 205k in 2006, bought mine for 33k in 88. Im worth more dead than alive now lol. I still own 180 acres near Black Canyon City but people are to dumb to go look it.

Please please share your thoughts about the new constructions especially for Phoenix. TIA!

You all thinking the market right now even comes close to resembling 2008 clearly we’re not around back then.

Excellent. I love all of this news!

Nice editing.

Our apartment complex in Chula Vista (San Diego) sent a 10 percent rent hike, which averages 200 to 300 dollars per apartment, many residents started to refuse to sign the new rate, the landlord rescinded the rent hike but many resident decided to leave anyways

It’s probably the heat that drives people away. 🥵 I can only hang in AZ when it’s cool.

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I requested 10% off the listing price the first month the house was on sale. The seller stuck to the listing price. The house is still on the market a half year later. If real estate goes down further in value, they will wish they took the offer... oh well

BOLSHEVISM. USA IS OVER. It's stunning to witness the abject denial surrounding the obvious engineered destruction.

With around $250k to invest, what's your advice on entering the market? I'm considering replicating the strategies of experts instead of investing independently to avoid both financial losses and emotional stress. What are your thoughts on this approach?

Phoenix was such a nice city back in the 1980s. Traffic was light and one could get around without issue. Homes then were very affordable. I was back on a recent visit and hardly recognized the place - smog, endless pavement and traffic were my first observations.

At $200/sq foot...the problem is price? Noooo. It couldn't be that!

Home Prices are declining in every state

Can you please talk about new constructions? Builders are selling tiny houses with tiny lots with skyrocketing prices! And people are buying those as there are very less houses available in the market. I see AZ outdoor living is being diminished by these profit making builders. Is this the right time to buy new builds??

On the contrary MANY MANY people are preying for a 2007 - 2008 crash

This whole market is 40 percent overvalued minimum

Every financial goal requires patience, dedication and consistent spirit knowing that investment is currently the most lucrative business in the world. both NFT, real estate, Stocks and Crypto is positively changing people's lives. I stopped panicking about the market the very moment I started working with Mrs Elizabeth Frankel last year, her confidence and skills is on a maximum level…

Realtors and the rich are so out of touch. Even if interest rates drop a full 2% people can’t afford to live right now.

What’s NOT being factored in (here) is the fact that the currency is collapsing…. A topic most people don’t want to talk about or even acknowledge, but it’s true. I believe we need to prepare for a collapse (a loss of 60-90%) in all asset classes across the board. If this sound appalling, unbelievable or even insane, it is however, it doesn’t make it not true…. Look around you, read the writing on the wall…. We’re in the shıtter now. Brace for impact now, buy physical gold & silver.

Original Bullhead City, AZ. has the best priced homes for sale that I’ve seen! Colorado River within walking distance, Casinos on the river with water taxi service, jet ski and fishing recreation.

25% MORE than loan balances is BS. That would mean that there would be a huge % (circa 20%) is in negative equity.