Comments by "Daniel Bradford" (@Falconlibrary) on "SHOCKING Surge in PRICE DROPS | New Home Prices PLUMMET" video.

Daisy, I've seen houses that sellers bought 2-3 years ago listed at 2x-3x the original purchase price, then they cut the price 10%. Let's do the math: 2019: Bought house for $100,000 2022: Listed house for $200,000 After 90 days on the market, cut the price to $180,000 And people are still buying. You can't fix stupid, because giving someone an 80% profit on a house is just that: stupid.
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I wish a collapse in housing prices was coming, because I'd love to buy a house of my own, but it's not going to happen. Here's why: 1. All-cash investors are going to scoop up any and all decent houses. Quick closing, no contingency issues with financing, they'll even pay over asking. The investors can afford to rent out a house at a loss or sit on a vacant property for years before showing a profit from it. 2. There are millions of houses--the estimate is 16 million but it may be as many as 40 million--vacant in the US. They're deliberately being held off-market to create an artificial shortage. The institutions doing this have literally bet trillions in maintaining that shortage indefinitely, and they sure as hell aren't going to let inflation, recession, or even another Great Depression screw with their business model. The economics of institutional investors who can tap cash reserves of hundred of billions is beyond the comprehension of most of us, and the normal "supply and demand" rules do not apply. 3. If the federal government sees any big investors in trouble, they will rush to bail them out with as much money as it takes. These investors literally can't lose. They cut our elected representatives in on the deal (Nancy Pelosi's husband Paul is a huge player in real estate speculation, to take one prominent example) and in turn, our representatives make sure that they and their patrons' interests are protected. Feel free to argue with me. I wish that none of the above was true, but I can't ignore the evidence in front of me.\ tldr; we're all doomed
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@realestatemindset You're expressing a hope not based on evidence. A lot of people are in denial that the real estate market is 100% rigged by people with more money than God. I get that. It's not an easy thing to accept.
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Decreased from what? A price that's double or triple what the seller paid for it a few years ago? I'm from Kansas originally and I look at listings where my mom lives and that's what I'm seeing. Prices aren't decreasing enough to compensate for higher interest rates and houses are still double or triple what they were pre-pandemic.
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Btw, a million Americans died during the pandemic, which you figure would reduce pressure for apartments and houses. Nope. Which is further evidence that the real estate shortages have been engineered. It's an artificial shortage and there's trillions of dollars (and the government and the Fed) are part of it.
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@bladerunna2022 Thanks. The truth is a bitter medicine but that's how I see it.
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@dsdddsd4543we You're talking like they're not taxpayer-subsidized businesses. They literally cannot fail. They have access to a bottomless supply of free money from their corrupt bought-and-paid-for congressmen. People who talk about these investors as if they're ordinary profit-and-loss enterprises aren't seeing the Big Picture.
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@realestatemindset Let's lay some money on who's right, give it six months? A year? Are you a sporting man?
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@realestatemindset No, it's not. The big investors have an ocean of cash to prop themselves up and when that runs out, their "friends" in Congress will throw another trillion or two their way. You can't win a rigged game.
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