Comments by "Daniel Bradford" (@Falconlibrary) on "Homebuying Getting EASIER in The WORST Housing Market Ever" video.

  1. I'm seeing price cuts in my area BUT: 1. The homes are often in poor condition; 2. If you look at the sales history, they're still way overpriced (seller bought the home for half of what he's asking now, with no significant improvements to the property); 3. The neighborhoods aren't the most desirable. Last crash, it took two years for prices to bottom out. It'll take at least a year this time and maybe longer. My guess is that don't buy until a year from now and if you can go all-cash or a huge down payment (50%+), so much the better. Cue the heavily-indebted investors/flippers in the comments, screaming IT'S A LIE! A LIE! THERE'S A HUGE SHORTAGE AND MY HOUSE IS WORTH ITS WEIGHT IN GOLD! GOLD I TELL YOU! Yeah, sorry to be the frog in the punch bowl, guys, but you're in trouble.
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  2. Good point and if you'd asked me in January if we were going to go that way, I'd say "no". Now? The floor keeps going down on potential price drops, which means a lot of people are in for a really nasty shock. I'd be satisfied with a rollback of the price inflation since 2018-19, but there's a strong chance it goes down more than that. I don't know how severe or long-lasting the recession is going to be. Neither does Jerome Powell. Neither does ANYBODY.
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  3. Hold out for a corner unit with a view!
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  4. Your patience will be rewarded if you can hang on for another year.
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  5.  @joebuck4496  I always got two inspections. Why not pay a few hundred dollars more for a six figure investment? And I always accompanied both and pushed them with questions. The second inspector caught stuff the first guy missed, by the way.
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  6.  @MichaelBordenaro  I see a lot of sellers suddenly eager to dump their flips in mid-progress or to divest themselves of their less desirable rental properties. Suddenly real estate isn't looking so juicy.
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  7.  @joebuck4496  Bush introduced TARP and Obama carried it over (so Obama's housing policy was basically Bush's) and I don't recall it having any appreciable effect.
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  8. First to rise is the last to fall.
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  9. I didn't realize Zillow estimates were that inflated, although I suspected. I go by the price history of the house. If a house was $150,000 in 2019 and is now listed at $225,000 without major improvements , then somebody's dreaming.
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  10. Silicon Valley refugees who cashed out their overpriced California shacks
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  11.  @oneemotiva4975  Any offer I'd make now would be considered insultingly low. In other words, the true value of the property. I'll wait until they've adjusted their reality. A deep recession is inevitable and if that doesn't crush housing inflation, I don't know what will.
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  12.  @Kronk-rp3jf  63% of population growth in the US is due to immigration. We don't have a booming population in this country, but all of a sudden, there's a "housing shortage" and real estate investors want us to believe it's a real shortage and not engineered to drive up prices? How dare they insult me that way, me, the owner of a 50% share in the Golden Gate Bridge???
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