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@sRan6569
9 ай бұрын
Honestly I gave up on trying to own a home, it seems like it will always be an uphill battle for me. Even with making 130k a year. It’s impossible to save when my rent is going up every damn year
@realtorjamielennon
9 ай бұрын
I hear you 🙏 If it’s something you really want, it can be achieved. I’ve seen it happen with really tight circumstances. You would be qualified somewhere around $600k…and there is also the California Dream for all program coming out Q1 2024 (state provides 20% down).. assuming you’re in CA. The rental market is just out of control and if there is a way to purchase, even sacrificing for a year; getting a roommate, moving in with family etc.. it will pay off in the end. Hang in there ✨
@vdsilva6806
8 ай бұрын
Supply and demand baby. My Wife and I were shocked to see the housing market was so cheap in 2017. We went there in 2020 and saw the jump. We knew you couldn’t go wrong in investing. We bought and sold in 2022 making 200k in 2 years. That house is now close to 1 million. Invest in San Diego. We were
@humanp4th
7 ай бұрын
Good for you, but what are people supposed to do nowadays? My father was able to buy a home for $250k in 2001, now worth easily $800k-1 Mill, likely more since it is a big property. $250k back then is equal to about $450k today. My older sister and her husband got approved for a $550k loan, can't find anything in the city. San Diego is going to become the city with 0 middle class, Section 8 receivers (good for them), and wealthy older folks. Just sad, as someone who grew up here all my life. Taking my chance of opportunity to Texas or Washington in the future most likely
@vdsilva6806
7 ай бұрын
@@humanp4th Big property? Could a couple of ADU’s on your father’s property be an option? That’s a very viable opportunity for the family which could lead to rental properties in the future. Yet, California is in a major deficit because of lower tax revenue ….everyone who can is leaving. My wife and I have rentals in Northern California, but are looking into buying rental property in Colorado. Whatever you decide, think investment property and not house liabilities. Work towards a family investment by leveraging your buying power if at all possible. Good luck.
@kapdolkim1914
10 ай бұрын
I agree that prices in SD will not crash. But the reason is mainly because we printed 4 Trillion. That money had to go somewhere. We had a pandemic and should have been in a recession. But we had a record rise in assets - real estate, commercial real estate and the stock market. Heck, even the prices of Rolex's, etc doubled. So we have created a situation where we are technically in a recession but asset prices are not dropping.
@humanp4th
7 ай бұрын
I think inflation definitely plays a part, but it doesn't describe how this is affecting an entire city. Some cities in Texas appreciated in value, but not at the rate San Diego did, other than Austin (which already shows signs of coming down). I'm not sure why the government doesn't sponsor home developments or more affordable housing options for the middle class. Even if it wasn't up to the Government, there's just been nothing done to combat a strong demand and weak supply. I can't imagine in 10 years what it's going to look like here, when today houses in the ghetto are listed at 800k. Me, being born in 1999, i'm going to take my degree and life to Texas after I graduate. Would rather own a home than be renting all my life or living with my parents until i'm 30
@eshraqsalahuddin115
5 ай бұрын
Okay, let’s say the price will not go down, I am just trying to understand who would be able to afford them, did the income on that area went up 65%. If not then where that extra income will come from to purchase the house unless only 20% rich population will buy house and rest of the 80% rent forever. I guess that is where we are heading ?
@ZJC10
10 ай бұрын
902,000/565,000 is a 59.6% price increase. Not 65%. How many of her other stats are off? I also have to ask who can afford that kind of increase with all the increased expenses of buying a home today? Increased interest rates, increased home owners insurance, property tax, car payments, utilities, and other daily expenses. Wages are not keeping up with all the increases so I find it hard to believe even with the scarcity of land in SD.
@Playingwithproxies
10 ай бұрын
Wonder if she’s trying to sell homes when nobody is buying. Wonder how many people can say they make 60% than they did 3 years ago
@divermike8943
8 ай бұрын
I lived in San Diego in 2008. I looked at the real estate market and STILL didn't think I could afford it. And I was making in the low 6 figures. One strange thing about California unlike the East Coast; sellers do NOT have to bring their home up to current codes to sell. Yup! And I kept encountering homes were MY real estate agent would say something like "This addition right here, might not be permit". A she wasn't going to find out for me. 😲
@robino41510707
10 ай бұрын
Very informative video! Yeah I'm not in a rush to move up with a 2.875 rate from 2020. In fact I'm never selling I'll just continue to save because I have nothing but time to watch the market and purchase when it's right for me. Great job on the video!
@realtorjamielennon
10 ай бұрын
That’s great! Smart to hang on to it. Cash out to roll over into the next home while you rent out the current is an option as well. If you’re in CA you can now sell ADUs, which could put you in a position to have a substantial amount to put down on the next home. Basically you have options and are in a great position 😁
@robino41510707
10 ай бұрын
@@realtorjamielennon yup, I'll use this condo as a rental when I purchase up is the plan. I live in San Diego so lots of upside. 😁
@ewilson0223
10 ай бұрын
Who has $500,000 cash to put down??? oh, boomers?
@humanp4th
7 ай бұрын
Boomers and Corporations. Weird how the City of San Diego has 0 response to any of this neither, the Govt is happy taking our taxes and twiddling their thumbs pretending nothing's wrong.
@alexandermonzon8165
10 ай бұрын
It aint happening for my Fam no time soon we might have to move to another State entirely this is getting outta Control here in the 619
@humanp4th
7 ай бұрын
Yeah, i'm getting my online degree and moving tf out as soon as i can. Even working my regular job at the moment and seeing that big ole chunk of taxes coming out of it hurts, the hell does the state do for me other than work on stop lights or fix some potholes when they get around to it?
@brunodesousa3772
10 ай бұрын
Great video. Very informative. San Diego is so different due to supply.
@realtorjamielennon
10 ай бұрын
Appreciate it! Yes, it is.Some zip codes have less than 10 available homes.
@nocturneowl2660
9 ай бұрын
Great video
@charityjohnson9065
10 ай бұрын
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@lordsoccer2772
10 ай бұрын
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@Wilton146
10 ай бұрын
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@Edward902
10 ай бұрын
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@lordsoccer2772
10 ай бұрын
She's on TELE GRAM....👇
@lordsoccer2772
10 ай бұрын
@Donnahest 👆 That's her user
@somethingsomethingsomethingdar
10 ай бұрын
Lol I remember when this same argument was made in 2006. Those who fail to learn from history are doomed to repeat it.
@Playingwithproxies
10 ай бұрын
She’ll be fine as long as she can sell a few houses before it all comes crashing down.
@sunnienie239
6 ай бұрын
THAT's my question why san diego home are not crashing yet?
@irishman3375
10 ай бұрын
2024 = 9% rates
@realtorjamielennon
10 ай бұрын
I’m wagering a decrease. Election year. The last meeting the Fed had was ambiguous and I believe they aren’t letting on what their plans are due to the chaos and potentially bring to the market. We shall see!
@irishman3375
10 ай бұрын
the market isn't running on fundamentals, it's purposely being manipulated, once the economy collapses they'll roll in a digital banking system, remember, "you'll own nothing and be happy" 😒@@realtorjamielennon
@eekman9823
7 ай бұрын
@@realtorjamielennon And if a Republican (Looks kike Trump) becomes the POTUS, the likelihood of lower rates is extremely high. Maybe not 3's, but at least mid to high 4's.
@darell8310
9 ай бұрын
People don’t know why they’re talking about history always repeats itself
@irishman3375
10 ай бұрын
were you a "working realtor in 2007-2010" ???
@realtorjamielennon
10 ай бұрын
I got in the industry in 2010. Licensed 2015.
@irishman3375
10 ай бұрын
oh sweetheart, you have no idea what you are talking about, bless your heart honey, you are about to be outta work, these things happen, nothing goes up forever, it's called a "cycle" and we are headed for a major downturn, worse then 2007, what were you doing in 2007 ????? now we understand.
@sorelnorlin2547
10 ай бұрын
Second that. Does she understand what is happening in the bond market? The repo market, the Federal Reserve balance sheet? Regional banks sitting on billions of losses on their balance sheet? Is she talking about insurance costs JUST starting to skyrocket and insurance companies bailing CA that will make that worse. So many macro economic factors at play that are waaay bigger than San Diego. Sorry...this level of analysis is missing 75% of the bigger picture imho.
@humanp4th
7 ай бұрын
@@sorelnorlin2547 I'm not doubting you, as I used to look into these things myself a year ago (until i lost track lol), but what do you really think will happen? They've been saying the house of cards is bound to fall soon, and even harder than before, but now S&P at record levels. I just think about the reality of the Supply vs Demand, even if houses fall, aren't there still thousands of real buyers waiting to swoop everything up? I would love for regular folks to be able to own a home again, but idk if a market crash allows for that
@parallelpost
9 ай бұрын
People, you do not need a professional crypto scammer to invest in crypto or other.
@Jessicascleaningtips
10 ай бұрын
Stay Broke San Diego 😔
@SuperMassman
10 ай бұрын
☝️🤡.. if you loose your source of income and you have equity in your home.. how does that prevent you from missing payments? Equity loan, just postpones it. Sell it? , but everyone is selling (you said massive layoffs).😔 .. add in a market crash and your fudged. .. just pointing out there are holes in your logic because EVERYONE is expecting a big market correction soon
@realtorjamielennon
10 ай бұрын
One would do a cash-out refinance. You would do this by using a lender that does non-income verification. Pulling out equity would tie people over until they locate employment.
@irishman3375
10 ай бұрын
that's a subprime loan, no chance, rate would be 9-10%, predatory lending@@realtorjamielennon
@RB-je3yj
9 ай бұрын
🧐🧐🧐🥱🥱🥱🤔🤔🤔 something is not adding up! 2006-2012!! I don't think she was around! 2024 people are going jobless! Politicians are ruining San Diego! There's no money...just wait people!
@RB-je3yj
9 ай бұрын
🧐🧐🧐🥱🥱🥱🤔🤔🤔 something is not adding up! 2006-2012!! I don't think she was around! 2024 people are going jobless! Politicians are ruining San Diego! There's no money...just wait people!
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