Housing market: Supply problem is going to be long lasting... there aren't enough homes for sale
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День тому#realestate #housingmarket #homesforsale
Daryl Fairweather, Redfin Chief Economist joins the Yahoo Finance Live panel to discuss the February existing Home Sales numbers and the shortage of supply of homes for sale.
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@robqwertyuipp8750 3 роки тому
The other issue is people aren't listing because they are concerned that that won't be able or afford to find a new residence!!
@RedRider1600 3 роки тому
Depends where they want to move to. There are many cities and towns in the US that has an abundance of affordable housing and vacancies. Some places are even giving away housing and land to attract new people.
@reempire888 3 роки тому
We aren't selling because it would cost us even more to get back into the market.
@RedRider1600 3 роки тому
@@reempire888 Sell and buy a smaller place, or relocate to a cheaper area, or a cheaper State. Average house price in West Virginia is under $200,000.
@reempire888 3 роки тому
@@RedRider1600 I agree, sell high and move into a smaller and cheaper area. That's the only way to come out ahead.
@blanesiwicki7851 3 роки тому
I guess buying a house is the American dream... cause we can only own in our dreams now.
@haileyryder7415 3 роки тому
if opportunity doesn't knock, build one for yourself. A motivational speaker ones told me
@franksmart3826 3 роки тому
"The key is in your hand, you have to decide to make that changes in your life now or your remain stagnant with your current status of lif"
@jaydenethan584 3 роки тому
Despite all the economic crisis, this is still good time to start up an investment
@miadylan7467 3 роки тому
The rich see's economy crisis as a garage sale, that's why investing right now will be the best decision
@samanthatyler4966 3 роки тому
I invested in both stock and crypto but currently I believe crypto is doing more better!!"
@blessingdanilo3829 3 роки тому
Crypto is the new gold
@TheZentegi 3 роки тому
The problem isn't stock. There are more empty home than there are homeless. Investors buy up homes that would be great for families starting out and rent out instead. This drives up the cost of housing making it harder for people starting out to afford a house. Rent seeking behavior is killing us.
@MrTopparwear 3 роки тому
Home ownership in China is 90%, in the US it is 60%
@amanpreetsingh3877 3 роки тому
first time home buyer are suffering the most. tax evasion surrounding real estate is a big issue. In GTA rent from illegal basements is gross and all in cash. One bed room illegal basement gives landlord 1300 dollars tax free and no one cares. It is not simply demand supply. It is policy paralysis, greedy flippers and unregulated unsafe cash cow basements. Realtors want their hefty commission so they do not care about average canadian. Black money from India pakistan mostly corruption money is eating up a good life for average canadian. As a country we need to constitute an inquiry commission to prevent going canadians homeless. Do u think that policeman, psw or grocery workers afford a place? It is big scam where ppl r getting laid off and house prices are risin
@juliancumming6893 3 роки тому
That's why this crash is gonna hit the hardest. Eventually, the people who are in it to rent will dry up, and the investors will basically be buying houses that will earn them nothing. It'll be a slow, but beautiful mass sell off once they realise their mistake. It'll take time, but it WILL happen, mark my words.
@stratecaster547 3 роки тому
@@MrTopparwear that's crazy that a "communist" country has a higher home ownership rate than a capitalist one
@MrTheguywiththemoney 3 роки тому
Maybe if the government didnt make it so hard to build a home... people could just build their own homes.
@jackspdr 3 роки тому
Not enough inventory? Maybe we shouldn’t sell to international buyers who don’t even occupy the home.
@TheM0joDoj0 3 роки тому
It's hard to put a home up for sale when you can't remove a tenant who's not paying rent. Or for a bank to list foreclosure on borrower 300+ days delinquent on their mortgage.
@TheM0joDoj0 3 роки тому
@@maeudaou7347 Not when the government can step in and say your tenants don't have to pay but you still have to pay property tax, maintenance, and mortgage on that second home. Imagine if the government said all super markets have to give out free milk, bread, and vegetables without gov compensation. You can't champion the "free market" then manipulate the market and still call it free. Can't have it both ways.
@stachowi 3 роки тому
@@TheM0joDoj0 they've turned our entire country into welfare recipients... not going to end well.
@robqwertyuipp8750 3 роки тому
The government is trying to build low cost housing for people but has not worked at all!!
@paula4910 3 роки тому
The DEMS will make foreclosures a thing of the past, also with UBI coming housng will keep going up until they nationalize it
@stachowi 3 роки тому
@@paula4910 yup, they're going to go full socialism and the capitalist didn't get the memo yet...
@50bladesofgrey43 3 роки тому
The second the stimulus stops, tens of thousand of homes are going to go up for sale like a blue light special.
@jordanlavalley 3 роки тому
Exactly they didn’t mention what happens when interest rates go up and panic selling starts
@lkiiig9245 3 роки тому
@@jordanlavalley as if they'd let that happen lol
@jordanlavalley 3 роки тому
@@lkiiig9245 you do know they have to make their money back. They have no choice but to raise interest rates.
@lkiiig9245 3 роки тому
@@jordanlavalley who has to? The government? The banks? How much do they make if everyone goes bankrupt?
@jordanlavalley 3 роки тому
@@lkiiig9245 either way the big banks make money. who do you think buys and owns all the properties if everyone goes bankrupt? if you think the banks don’t make money from recessions than I can’t help you.
@JuanRodriguez-ql2zu 3 роки тому
Every market is cyclical, lets wait it out. What goes up must come down. Interest going up, forbearance/moratorium will end, and stimulus will stop. Then inventory will increase, thus prices will come down.
@stratecaster547 3 роки тому
I'm not so sure, I think the mass move to tele-commuting after COVID was a game changer
@treesnmoguls 3 роки тому
You are correct. The mainstream media does not talk about shadow inventory, does not talk about delinquency rates, does not talk about the eventual end of forbearance, which is nothing other than a "kick the can" tactic. In my opinion, this "economist" is "talking out of the side of her mouth".
@LucasFernandez-fk8se 3 роки тому
@@stratecaster547 umm telecommuting has no effect on this. That might make a home in a rural town go from 130,000$-160,000$ but that won’t effect a suburban house going from 210,000$-370,000$ in two years. We are in a housing bubble. Trump made the economy good so home prices naturally rose, then now we have all this forbearance delaying the crash
@SD_702 3 роки тому
They need to create a seller incentive.. not a buyer incentive. Give sellers $15k tax credit to sell.
@christopherhendricks4369 3 роки тому
Until investors use it to make more money and flood the market with homes.
@SD_702 3 роки тому
@@christopherhendricks4369 that's what we need. We need millions more in inventory.
@christopherhendricks4369 3 роки тому
@@SD_702 I'm all for it . if it works.
@treesnmoguls 3 роки тому
Disagree. All they need to do is unleash the forbearances, then there will be millions of homes for sale.
@idliketosay 3 роки тому
@@treesnmoguls no they can’t cause the government forced too many of the forbearances by forcing a shutdown, so that would be wrong for them to do. The best thing to do is to freezes investors (big and small) from buying single family homes until the market goes back to normal. First time home buyers for now until further notice. Quickest way to solve the issue.
@normankrock3719 3 роки тому
People are cautious to sell because they will have a hard time getting into another home.
@reempire888 3 роки тому
Yep, low inventory and high lumber prices.
@jaredvaughan1665 3 роки тому
Going back to smaller houses is the answer. I say back because in the 1800s log homes with large families was the norm. Today huge homes with small families is the norm. I myself lived in my vehicle recently for 5 months and loved it. And would recommend it even as a temporary measure to learn about life and save money.
@ldygzlle1291 3 роки тому
Just sold my home. Closing will be April 30. After that I’ll be in my campervan traveling until I find another property. At least I’ll be a cash buyer.
@TheTruthAlways 3 роки тому
There is enough for everyone's needs but not for everyone's greed. If investors keep on buying multiple houses, the supply will never be sufficient. Keep the investors away and first time homebuyers should be good. Policymakers should set higher down payment rules for investors.
@kevinm4157 3 роки тому
Plenty of people are looking to rent, not buy, they need homes too. Anyhow, California just passed some ruling that gives first time buyers preference to those who already own homes.
@TheTruthAlways 3 роки тому
@@kevinm4157 plenty of people are looking to rent because houses are unaffordable. Nobody would rent if they could afford.
@kevinm4157 3 роки тому
@@TheTruthAlways That's actually untrue, even many rich people prefer renting. Elon Musk is one example.
@joseph87327 3 роки тому
@@kevinm4157 For Elon Musk it's about image. He doesn't want to be seen as a greedy billionaire with multiple mansions. Buying a home keeps you less flexible to an extent, it's a liability if you have to travel or move a lot.
@joseph87327 3 роки тому
@@kevinm4157 Problem is that no one wants to move during a pandemic, the work-from-home dynamic has driven up housing prices, interest rates are low, city venues are closed, and there are wide spread eviction moratoriums. All of these things will abate somewhat if we get a full recovery from covid.
@HafeezBlackLeg 3 роки тому
Unemployment rate Up Home prices Up Money Supply Up Building Material Up Inflation Stable (According to Fed) We are good fellas, buckle up......
@helpme100 3 роки тому
Gross!! This is so unfair
@RipMinner 3 роки тому
The most recent data from the National Alliance to End Homelessness puts the number of homeless people at 552,830. There are more than 17 million vacant homes across the U.S., according to the Census Bureau. Please take note that empty houses not houses up for sale are in this number.
@traderloves6556 3 роки тому
Well... if you let’s those houses that are supposed to be foreclosure then all problems will be solved.
@yahoofinance6440 3 роки тому
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@idliketosay 3 роки тому
Nope. Can’t when the government forced the foreclosures by forcing shutdown.
@traderloves6556 3 роки тому
@@idliketosay I didn’t get what you are saying.
@idliketosay 3 роки тому
@@traderloves6556 the government caused many of the potential foreclosures, because they forced a shutdown of the economy, so they know they cannot let the houses foreclose because people will be upset at them and point the finger at them. This is why the government will do everything they can to stop foreclosures.
@traderloves6556 3 роки тому
@@idliketosay they could sell their houses at a good price and move into government assisted apartments. This can still solve the supply issue
@alksjda 3 роки тому
got in a year ago, house went from 630k to 750k (zillow and socal). glad i jumped in instead of waiting for a "crash/burst"
@fidelgarcia5683 3 роки тому
But in what does that benefit you? Because now you'll have to pay more taxes in your property, unless you sell it now than yeah you make a good profit. And who knows if 5 years from now your house is worth 400k. So maybe you're talking too soon buddy
@alksjda 3 роки тому
@@fidelgarcia5683 its based off purchase price not value. im sorry youre poor and cant afford a house.
@StewartLucrative 3 роки тому
@@fidelgarcia5683 When Thomas's wife (or husband) leaves him he'll be back to renting.
@StewartLucrative 3 роки тому
@@alksjda it's ironic you call people poor when you have NASCAR videos on your channel filmed with a flip phone. You were just dying to Humble brag about buying a house, weren't you?
@fidelgarcia5683 3 роки тому
@@alksjda lol I reply to your post because I'm the one that could say what you said. Fyi I bought my house in 2008 for 1/4 of the price that was sold in 2005. I paid it off already and more than likely I'll buy a second home when you lose your house, like Stewart said when your husband/wife leaves you and you can't pay the mortgage or sell your house because it's only going to worth 1/3 of what you paid. Again you talked too soon bud..
@stachowi 3 роки тому
Just wait until the people who are paying their rent/mortgage realize they don't have to anymore...
@CO8848_2 3 роки тому
Most didn’t see it coming, and now that it happened, they still can’t adjust themselves to the unhappy reality.
@rwxtrm9093 3 роки тому
Just start shoving 10 work at home professionals in each 3 bedroom house that will be affordable in the future.
@cogen651 3 роки тому
OMG. Powell really screwed up the market
@stachowi 3 роки тому
oh just wait, it's going to get WAY WORSE... we're in the EVERYTHING BUBBLE.
@joseph87327 3 роки тому
@@stachowi Trust in JPOW. It's better to get back to full employment than try to balance all the asset markets. We'll have more productivity, less poverty, and less crime. A sustained increase in unemployment would mean more people leaving the work force. We need this QE or "money printing" to fight off the insane deflationary pressures we had at the onset of the pandemic. We haven't had consecutive years of inflation beyond 2% since the early 1990s.
@stachowi 3 роки тому
@@joseph87327 i can't tell if you're being sarcastic or serious.
@joseph87327 3 роки тому
@@stachowi Totally serious, we have been in a low growth low inflation environment for over a decade. I don’t think that’s suddenly changing.
@cisko213 3 роки тому
Nothing about eviction and loan forbearance?
@Octovisuals 3 роки тому
Just another bubble. But it's the worst one since housing is a basic human need...
@chrisginoc 3 роки тому
Supply and demand is the new housing crisis.
@traderloves6556 3 роки тому
Just let foreclosures follow through then we’ll get a lot of supply of houses. Haha
@webdeuce 3 роки тому
lumber is the American housing price problem .... let's make mortgage 5% .... and airbnb rental house mortgage 8% ....... lumber will start growing out of A&^*^*^*^ :::))))))
@Rang76er 3 роки тому
Don’t worry....20% of current homeowners will be in default within 18 months once their government assistance runs out. I’m very curious how many loan originations are based on “income” from stimulus funds...
@jaredvaughan1665 3 роки тому
300 000 immigrants a year = much higher house prices for Canadians already here. Duh.
@yahoofinance6440 3 роки тому
C....O....N.....T.....A.....C.....T.....S.....(M....E).....(O....N....) W....T....H....A....S....A...P...P +1...3...5...2...6...0...9...9...8...4...0
@saleenr6 3 роки тому
why aren't people cashing out their homes at such a high???
@LucasFernandez-fk8se 3 роки тому
👏 We 👏 are 👏 in 👏 a 👏 housing 👏 bubble 👏 right 👏 now 👏. Of course homes will get cheaper later in the year or 2022
@acommentator69 3 роки тому
Lol
@bkinouye 3 роки тому
If people would stop buying, prices will drop!!!
@ahistoryperson9983 3 роки тому
Every season ends and another one begins...this will not last, but it could be over 10 years. Politics caused this and politics always change.
@amanpreetsingh3877 3 роки тому
first time home buyer are suffering the most. tax evasion surrounding real estate is a big issue. In GTA rent from illegal basements is gross and all in cash. One bed room illegal basement gives landlord 1300 dollars tax free and no one cares. It is not simply demand supply. It is policy paralysis, greedy flippers and unregulated unsafe cash cow basements. Realtors want their hefty commission so they do not care about average canadian. Black money from India pakistan mostly corruption money is eating up a good life for average canadian. As a country we need to constitute an inquiry commission to prevent going canadians homeless. Do u think that policeman, psw or grocery workers afford a place? It is big scam where ppl r getting laid off and house prices are risin
@shadowofpain8144 2 роки тому
You can't out bid Blackrock for a house.
@amvorv2144 3 роки тому
My country in Philippines is ready now be ready to face to face and bankruptcy , big charges,big penalties and sentences in prisons jails.. I don't want to wait or I don't to waiting because my they were gives this month's. I will charges you and big penalties you mark my words!
@adrianrae4308 3 роки тому
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@tomcmathew 3 роки тому
Marketing
@yahoofinance6440 3 роки тому
C....O....N.....T.....A.....C.....T.....S.....(M....E).....(O....N....) W....T....H....A....S....A...P...P +1...3...5...2...6...0...9...9...8...4...0
@ThePeriquito51 3 роки тому
not true
@amvorv2144 3 роки тому
In criminals activities and scammers
@nohopeequalsnofear3242 3 роки тому
Rising interest rates. Deferment ending. Renters will get evicted. Landlords will get out. We are on precipice of a depression
@acommentator69 3 роки тому
Immigration is also a problem
@amvorv2144 3 роки тому
Before that I will big in charges and big penalties and sentences to these people and bankruptcy to these dirty works
@MrMassee 3 роки тому
The good news is once you get a mortgage it's illegal to be foreclosed on, so simply stop paying your bills and tell the bank to suck it. These economists ought to mention only losers pay their bills in 2021.
@fragmentsofthemind 3 роки тому
okay, sure
@johnsineni 3 роки тому
Lol, ok give it 12 months and you will see tons of forecloy.
@MrMassee 3 роки тому
@@johnsineni I don't believe the politicians in DC have the cajones to actually foreclose on anyone. Paying your bills is for losers and idiots.
@idliketosay 3 роки тому
Facts. And hey, when forbearance is over...all your missed payments will just be added to the back end of your mortgage. So yup, a 40 year mortgage is gon be the new norm. So those who skipped on mortgage payments this year will be the big winners!! Got to save big and lower payments once renegotiate their loan into a 40 year at a sweeet interest rate. Wooooo. All you suckers paying your mortgage this year are DUUUMMBBB. FACTS.
@fragmentsofthemind 3 роки тому
@@idliketosay actually, you get the better saving by actually paying down the debt so you no longer have a mortgage. have fun paying an extra 10years on a mortgage you could have had finished 10yrs sooner and no, they aren’t going to give you a better rate, actually it’ll be a worse rate cause the house will be hamped. and yea, not paying your bills will get you foreclosed on after the moratorium
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