The 2020 Housing Bubble, The 2021, housing market collapse, The 2022 Housing Market Apolocypse, The 2023 Housing Market Implosion, and The 2024 Housing Market Meltdown. All of those are titles of videos made by various YouTubers including myself over the past four years, but the reality of the housing market in the US has been very different. Instead of crashing, the markets have only gone up. In fact, according to the infamous Case-Shiller Index home prices in the United States have increased by 42% since January 2020. This video isn’t about excuses but rather the reality, and addressing the various problems that plagued all these predictions over the past four years. To begin we first need to take a step back and understand some history.
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Bill McBride SubStack
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31 Comments
I get offers once a week by big institutions trying to buy my homes so they can rent them back to us.
Why we still listening to these crystal ball fakers… no one can predict it
fun fact, if graham continues posting these crash predictions, one day he'll be right
Most of this video was you talking about another YouTuber. Grow up and stop worrying about other people. Lost a sub.
"Housing Market Crash 2024" Nah, that's not deceptive clickbait.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
2008 Bubble started in 1999. To think this is sustainable with inflation, interest rates, and forclosures increase is wishful thinking at best.
Prices wont go down if corporations keep buying up all the homes.
The Fed has a 5 percent wiggle room, and it probably won't let a crash like 2008 materialize again, maybe a modest 10-15 percent overall correction at most, but then again you can already negotiate that much this year. With a correction, your 300K house would probably be 150-300 cheaper in mortgage payments due to inevitable lower interest rates, which won't even afford half a decent car anymore. Real estate like a multifamily for 350K is just not possible anymore. Maybe, if people start aging and dying like in Italy.
You did not say if there is reallly a housing crash. What a waste
Like people doing bidding wars for stuff they can’t afford is normal. This was caused by fear of missing out or pure greed. Now its either you print US dollar to toilet paper or there will be massive economic slowdown
I honestly, like lots and lots of Americans, will not be able to buy until those prices at least " at least will come down to 70% " those investors are very bad people, besides most of Californian they sold their house running away from the corrupt liberal State of California and came to Phoenix area and "jacked up the prices paying CASH 70-80% above the value" that is very bad. beside the interest rate is very high 7% that is ridiculous, AND the inflation- No jobs- high gas prices- high food prices, in conclusion I honestly will not even think of buying or renting until thing gose back to before 2019.
if housing crashes… unemployment will be peaking at the same time which means poor people wont be able to buy anyways. thats what happened in 2008 as well…. people were so poor they couldn’t even afford the firesale. ive been stacking for years and now can buy in cash but am second guessing even staying in usa because capital gains tax
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Demand has gone up because the population over the last 4 years has increased in the US at a rapid rate.
"Miss information"😂
Too many things are not making sense. People are complaining that they cannot afford rent let alone buying a home. The interest rates on mortages continue to rise. Houses are in some areas have increased three or four times their value in 2019/20. Globally we are in multiple conflicts or instabilities. Domestically we are moving toward political unrest toward the end of 2024. It alony seems the market will topple soon or correct itself in the next year.
This entire video doesn’t once mention how much money was printed – the main culprit for the runaway prices.
Why would I click on a finance video for entertainment? I’m tryna get this money
Listen….this is not sustainable. I don't care about "market analysis". At some point buyers are going to disappear and the only ones left will be the ones grifting. This is when the market will crash.
2005 no youtube and even no smartphones geez.
Isn't a "collapse" of the Florida market the dream of buyers. Why do we look at market from sellers POV. Let's look from buyers POV.
You spent the last half of the video explaining about how you tubes algorithms work, and the first half abiut how the other was always wrong.
Yet you never gave us anything either!!
Clikbait!!
2002-07 was a global housing boom versus 2020-24 has been global housing crash. Canada didn’t have a housing bubble in 2007-12. Much as Canada did face the Global Financial Crisis of 2008-09. Yet Canada never fsced a recession in 2000-02 woth the Dor Com Bubble or 2001-02 Post 9/11 recession. But hopefully 2025 there’s a better chance to buy and sell houses again. I’m eventually wanting to move where there’s better busing.
I'm curious about the greatest investment prospects right now. I read certain perspectives, but I soon learn that these opinions are meaningless because the stocks they mentioned took a completely different turn.
Back in the day, when I purchased my first home to live-in; that was Miami 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.
People need to understand that the value went down due to supply. The price will never go back to 2019 even if there is a crash. HF are buying all the houses to rent them to you.
You have to contend with why home values plummet or skyrocket. Every wave of financial change is different and if you do not understand or explain why a thing happened, you’re only looking at the thing through a keyhole.
Housing and stock market was ready to roll over in 2020. Covid 19 stopped the economic order of revaluating assets. Has only been delayed. Income cannot support the housing market. A 40% price drop in real estate would be a normal correction.
House owners are a sleep on the wheel on this one because the scams of lower rates. 2024-2025 will be lower inflation particularly in housing.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.