Canada here: Just shake my head at the buyers that did high-fives with their buying agents when they won highest (way over list) bid to buy a home. Many of these homes 2-3 years later are selling for less that what they paid. No pity at all. They once again are messing up the market.
@threeftr3349
Ай бұрын
@@dan-qe1tb When was the mortgage rate 23%? Not in the U.S. In the U.S right now most credit cards are around 25-29% With a $40 late fee. I agree, the sooner people get into a house early in life, the better off many are latter in life. Inflation makes your money lose purchasing power. For me I have a 3% mortgage, so every month I pay the mortgage, I am keeping my money's purchasing power higher than its worth today. My cost for my mortgage is cheaper than rent for several years.
@networth00
Ай бұрын
I bid on a house for 2 years and thank GOD i did not go high enough. Once I went 250k over asking and was 3rd in line.
@lisalove8526
Ай бұрын
The question we should be asking ourselves is how strong of an economy do we have when it cannot tolerate Historically normal interest rate of 5 to 7%… this tells me all I need to know as a registered nurse. The patient is on life-support, prognosis doesn’t look good. Travis people keep spending money because their memories are short and they think the credit card will continue to be extended, hours will never be cut and they will never lose their job. Next year is going to be very interesting.
@realestatemindset
Ай бұрын
Lisa, all very solid points. Thank you for writing all this down. It is appreciated.
@edmund2j
Ай бұрын
I'm still holding on buying a house. In the meantime, my investment is compounding.
@networth00
Ай бұрын
Be careful with the stock market. If housing drops so does that.
@bc5001
Ай бұрын
When it comes to real estate I trust no one except my own instincts.
@texlad04
Ай бұрын
I just closed on a house after my area prices softened and then 5 percent off list with a 5.99 FHA, nothing for loan admin or origination, and a credit back to cover a portion of third party processing. It was all due to shopping both the house and the loan. So glad we went through the extra work. And the supply in my area is tight still. There are lenders willing to compete for your business. Don't assume they won't.
@joemartin8888
Ай бұрын
Well, one thing that happened that doesnt get mentioned much....the union workers all got HUGE pay increase while the rest of us flatlined..25% in some cases...that is insane...
@charlesrocks
Ай бұрын
I know a couple of union journeymen making $450k/year. People don't need to be a literal corporate slave.
@madelinedoyle3370
Ай бұрын
@charlesrocks are they plumbers and/or electricians?
@joemartin8888
Ай бұрын
"The market is ran by emotion" ....OMG.... Sad but true
@tobyk5149
Ай бұрын
by two emotions: Fear and Greed
@John1908-vo1iv
Ай бұрын
Mortgage rates did not plummet lol
@MaryLawson874
Ай бұрын
I retired seven years ago at the age of sixty-two, paid off my mortgage, and haven't touched our retirement funds since. I have 1.5 million dollars in my portfolio, and it took me ten years to reach this goal. I started with a respectable amount through my CFA claire Roberts Durand At the moment, my dividends are supplementing my retirement, which takes time. I make sure I never keep money in the bank, and I never sell the chicken that lays the egg (dividends). I just eat the egg.
@aparnabell8365
Ай бұрын
Good morning! Thank you, Travis, for the great info!
@TheRealEstateMix
Ай бұрын
Love it as always Travis, thank you!!
@daninthedirt9449
Ай бұрын
Thanks just learned the real cost of refinancing wow that's so scammy/scummy
@SirCarlosMusicBMI
Ай бұрын
🎉🎉🎉 OH MY GOSH TRAVIS 😮❗️ Really??? An hour and forty minutes?? Well this one’s for the algorithm. Love you my Brother in Christ, Carlos
@MemyzelphandI
Ай бұрын
Checking in...looks like another day and the same sky falling. Doomers gonna doom.
@amcreaken
Ай бұрын
So, should the selling agent show off the house to all prospective buyers?
@Joemammatype3
Ай бұрын
Don’t put your fingers near a sharks mouth.
@anarr7411
Ай бұрын
😂😂😂
@realestatemindset
Ай бұрын
It's complicated.
@Laughateverything
Ай бұрын
Rates plummeting? Rates are still at 7 with a few points. The 10yr yield as of this very second still hanging around 4.2.
@threeftr3349
Ай бұрын
FHA has the lowest interest rate, but all FHA loans require mortgage insurance. Some have a standard of 11 or so years, because of the low down payment qualifications, PMI can be with you for many years. Also the upfront mortgage insurance premium is equal to 1.75% of the base loan amount.
@networth00
Ай бұрын
FHA doesn't not require PMI if you put down 20%.
@Isaac-ue8uj
Ай бұрын
Strictly speaking, the Sahm rule has not yet been triggered. The 3-month average unemployment needs to be +0.5% off the bottom, which will happen if UE stays at 4.0% or higher in July data.
@iztherelife1340
Ай бұрын
I saw a girl doing seminars to invest in real estate and run VRBO’s Just shook my head
@networth00
Ай бұрын
I own VRBOs and they are not doing well right now. I made a fortune in the past 5 years tho.
@ElizabethHernandez-pp7sz
Ай бұрын
Confused.. 😂
@litupav
Ай бұрын
Aye brotha, love the videos! I know you stick to Texas, mainly Houston area for your real estate insight. I’ve been lately enticed to research and visit West Virginia for the low property cost. Any chance you can maybe make a video just checking it out for a sec. Would like to hear your perspective.
@sunpark9195
Ай бұрын
Is it time to buy a home yet? Are u sure this crash will happen? General prices will not go down, what makes you think homes will? Maybe it will go up in value nominally but underperform other assets? Maybe you being hurt from 08 makes you a bit bias?
@meln3567
Ай бұрын
Noooo, dont paint brick!
@jorgecasamiquela1186
Ай бұрын
Totally Bonkers Kid 😮
@MaryLawson874
Ай бұрын
The real estate market significantly influences economic growth, personal wealth, and community development.
@AprilGeorge-o1j
Ай бұрын
I think the next big thing will be A.l. For enduring growth akin to META, it's vital to avoid impulsive decisions driven by short-term fluctuations. Prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
@MUDDYMULLINS99
Ай бұрын
We learned from our mistakens!!
@DoubleOhSilver
Ай бұрын
Stop feeding the sharks
@realestatemindset
Ай бұрын
That's a long story. Lol
@k.williamelliott7969
Ай бұрын
Any web site recommendations to monitor mortgage rates?
@k.williamelliott7969
Ай бұрын
LOL, asked to early, continued watching and found the web site
@Singlesix6
Ай бұрын
@@k.williamelliott7969 I just looked too. Rates are unchanged.
@Fatbodypyle
Ай бұрын
Aauugghhhh. The damn sky is falling !
@MultiRocknroll123
Ай бұрын
These bonkers events keeping you broke
@realestatemindset
Ай бұрын
What do you mean?
@MultiRocknroll123
Ай бұрын
@@realestatemindsetI'm not talking about you specifically haha I'm just saying this crazy bonkers economy keeping everyone broke
@raystarky3896
Ай бұрын
TRAVIS! i know you dont want to show BOTH middle fingers got bit by the SHARK! I know that is PRETTY GROSS
@alexmosichuk3406
Ай бұрын
This guy making so much money from this doom and gloom channel, he stop working as a RE agent. 😂
@realestatemindset
Ай бұрын
Thank you for commenting. I mean no offense but can you tell me and be honest, how old are you and what responsibilities do you have? I try not to act like a fool by making assumptions. You know what I mean?
@John1908-vo1iv
Ай бұрын
@realestatemindset- I think I will unsubscribe this time for good. Where are you seeing the mortgage rates plummeting? My credit union who has the best rates has dropped by 0.125%, wow, that is such a big reduction!!! Tired of your clickbait and I bet you will delete my comment.
@tobyk5149
Ай бұрын
@@John1908-vo1ivwell, bye
@John1908-vo1iv
Ай бұрын
@tobyk5149 keep listening to his click bait genius
@John1908-vo1iv
Ай бұрын
@tobyk5149 do you understand what is a mortgage rate plummet? Can't you see is a lie?
@mattwilsonracing388
Ай бұрын
Amortization schedule on renting will always be worse than owning..... You pay 100% to someone else and 0% to principal. You are guaranteed to gain zero equity. You have a landlord up your ass about what you can and cant do in the house you are paying to live in. You also forfeit cleaning deposits, pet deposits, etc.
@tobyk5149
Ай бұрын
Owning a home bought at bubble price may end up with negative equity and a loan balance greater than what the home can sell for. There is zero risk of that for the renter. If you do not believe negative equity is possible, you do not understand the US housing market 2004-2012. Those who do not learn from the past are condemned to repeat it.
@realestatemindset
Ай бұрын
A mortgage rate around 7% is really 150% in interest. So if renting is 100% and owning is 150% than your doesn't work very well.
@mexicandoll31
Ай бұрын
The plan is not to rent forever. The plan is to get a mortgage or buy a property cash for the right price.
@House_hacker_619
Ай бұрын
@@tobyk51492004-2012 What’s your point? I bought my 1st property in June 2009 with 8 months remaining for tenant to pay it off. I’ll add that to another source of retirement income. I bought my 2nd house in August 2022. So let’s say the market crash and my house plunged down to a dollar value 😂. Who cares don’t sell. I’ll never sell anyway. It will get pass down to next generation. there is no LAW if the market crash I’m forced to sell. I’m not trying to create FOMO buy when you’re ready.
@House_hacker_619
Ай бұрын
@@tobyk5149so you think buying a house in 2013-2019 is cheaper than 2009? 😂
@AlfredStephen-o2h
Ай бұрын
I retired seven years ago at the age of sixty-two, paid off my mortgage, and haven't touched our retirement funds since. I have 1.5 million dollars in my portfolio, and it took me ten years to reach this goal. I started with a respectable amount through my CFA claire Roberts Durand At the moment, my dividends are supplementing my retirement, which takes time. I make sure I never keep money in the bank, and I never sell the chicken that lays the egg (dividends). I just eat the egg.
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