Comments by "NetWorth" (@networth00) on "The Fed Just Started a MORTGAGE DISASTER in the 2022 Housing Market" video.

  1.  @timtaylor9339  Exactly. They should have bought the house.
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  2. It's hard for RE agents to freak out when everything is still selling for over asking price.
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  3. How much cash do you have saved up for this crash? Most people spend all their savings.
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  4. I've seen them also in south Florida.
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  5.  @jesse_-  I think you're wrong. These major companies buying homes for cash, what are they doing with them? They are RENTING THEM OUT to would-be buyers. Those people are no longer looking to buy homes = less competition. Prices will drop in 2022.
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  6. I read your post, it was great. In your situation you have to move a lot. But I feel like other millennials should have bought a house 5 years ago for half price. Why does everyone blame "boomers" and older people from the mess we supposedly made? We just lived our lives and some of us bought a house. My parents are boomers and we grew up dirt poor, wore hand me down clothes, and drove junky cars. Almost no one middle class had a new car, if they did it was the cheapes new car you could buy... power windows, doorlocks, and steering meant the car was "loaded". I don't get the hate from millennials for older people. Do you not like your parents or grandparents, many of whom are very poor. Everyone's house skyrocketed last year but why blame the homeowners? We can't even move because of this mess.
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  7. West Coast, Vegas and South Florida were hit real hard.
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  8. Out of town buyers drive prices up.
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  9.  @samuelglover7685  It's going to be underwater yet Obama, Bill Gates, and Zuckerburg all bought ocean front properties recently. Stop believing the lying overlords.
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  10. I'll bet he's talking about renters.
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  11. Buyers will say they can't afford these high prices. The Great Resignation has started.
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  12.  @gregcarlson8438  The bubble bursting and people like you who keep saying "it's different this time"... same thing they said every time.
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  13. Everybody has all this cash somehow.
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  14. This stuff takes time. Do you think real estate all just goes down 30% in a month or year? We didn't realize how bad 2007-08 was until a couple years later.
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  15.  @michaelwarren3626  People commenting like you have about $200 in the bank and talk about investing. I've seen it over and over.
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  16. No one can time the market. Get out while you can. Home won't be going up much, if any, in the next 6 months.
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  17. When you get a house under contract the mortgage is locked in.
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  18. That's not how it works. How old are you?
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  19. In California nobody is selling due to Covid. That's all about to change.
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  20. My rate 9 months ago was 2.5%, now my quote is 3.8%, that's a huge jump in less than a year... plus they're just getting started.
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  21. Reasonable rates are more like 7-8%.
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  22. @Big Donkey You won't have to wait that long. This bubble will pop long before then.
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  23.  @jesse_-  The monthly interest you pay on that 6% loan is more than double for the ENTIRE 30 years worth of payments.
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  24. It's bc the sellers sold too cheap to begin with. What are the comps?
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  25. 2010 was bottom of the market.
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  26. Those cash buyers will refi bc of cheap rates.
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  27.  @Sweetbutpsyko  Why didn't you buy a house 5 years ago when they were half price? So you think ALL boomers caused inflation and they all own investments?
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  28. @J P Most people I know are broke. But if you wanted a house it takes hard work and saving up a little money. Getting ahead in life takes work. You guys think everything should just be handed to you.
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  29.  @Sweetbutpsyko  The cost of living is just now out of balance since Corona. You guys have been screaming that for 10 years. You could have bought a house 5 years ago for half price. You don't think it's out of balance now for everyone? I'm prob your parents age and I'm trying to buy a house also with a low salary. You think you guys are the only ones mad?
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  30. Nobody stays in their home for 30 years anymore. People die, get divorced, upsize, downsize, get new jobs, etc. They'll be moving.
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  31. How would we do that? Get the vax, wear a mask? None of that has worked yet. With Omicron being so weak it will be gone soon.
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  32.  @n4870s  I'll bet people spent the stimulus checks faster than they could get them. They'll be broke soon and begging for low paying jobs.
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  33. They've always had billions to lend. Why doesn't it go up 300% since they have billions to lend? You're just throwing numbers around just because.
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  34.  @PDXLANDBARON  They want everything free from the government. We are headed into troubled waters.
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  35. Give it time, these things take a couple of years.
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  36. They will walk away and the bank will sell the home at a loss, just like last time.
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  37. Nobody knows what the future holds. Home prices dont drop overnight. It took us 2 years to realize the bubble busted in 2008.
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  38. Give it time, you'll see.
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  39. Things take time. People didn't realize for 2 years how bad it was in 2008.
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  40. And Covid since nobody wanted strangers in their house.
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  41. Why anyone would want to be in LA is beyond me. Yes, the weather is nice, but that's it. You have high crime and lots of bums. Enjoy.
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  42. How much did you pay for thet 225k home? Everyone has lots of equity now since their home just doubled in price.
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  43. All the Cali and NYC liberals are getting away from the mess they created in their states... and bringing their bad voting habits with them.
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  44. At 6:00 I don't know if that's a fair assessment. In those west coast areas like LA, Seattle, and San Fran if you throw in the multi million dollar homes it will throw the numbers way off. I hate those places anyway and they dropped like a rock last time we went bust.
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  45.  @ReventureConsulting  Ohh, thanks for clearing that up. That means those numbers are crazy out there.
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  46.  @chrisc.treemendous6244  Where do we put our money? Hold cash, buy real estate, stocks... what do we do if we have savings?
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  47.  @chocoboqueen5498  Angry bitter party of 1, your table is ready.
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  48. Not if you already have cash saved up.
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  49. What areas?
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  50. It started 800 days ago, it will be here soon.
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  51.  @Buck_504  If you plan on living in the home 10+ years I would go ahead and buy.
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  52. Too many people are leaving Cali. Their prices will drop soon.
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  53.  @jesse_-  You bought in a very low growth area if it only doubled in 20 years. In south Florida homes have doubled in 2-4 years.
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  54. When you go to sell you'll find out real quick which one is better.
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  55. Companies borrow money.
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  56. Up 40% from here? I need what you're smoking.
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  57. Pay cash big shot, then you won't have to pay for 30 years.
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  58. It's just starting to rise, give it time.
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  59. Did you see how bad LV got hit last time the market went down? Wait it out.
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  60. Don't buy unless you will be there 10-20 years. Why are you thinking about resale?
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  61.  @lnicole2504  As I said, if you're going to be in THAT house for 10+ years then buy it, if not then don't buy it.
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  62. How heavy in stock market?
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  63. So that makes you interested in buying at the top of the market?
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  64. @v The top is when nobody can afford the prices anymore. I'd say we're about there.
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  65. @v Simple math. Average salary vs average home prices.
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  66. What if you overpaid for the house? Did purchase price factor in at all?
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  67. How long do you plan on being in the house?
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  68. Typical real estage agent talk LOL. Were you in RE during 2008-2014? My guess is a big fat NO.
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  69. Give it time. Rates just started going up.
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  70. What happened to real estate prices in SoCal during the 2008 recession? They dropped in half. Same thing will happen again, plus lots of people are leaving there due to bad policies.
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  71. Rising rates affect buying power. It's absolutely affects RE prices.
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  72.  @investfourmore  My comment has nothing to do with supply. If you don't have buying power then it doesn't matter how many homes are for sale.
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  73. I would rent for a year if I were you.
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  74. Do you want to buy at the top of the market?
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  75.  @rafaelfigueroa7099  People said the same thing in 2008.
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  76.  @rafaelfigueroa7099  Sounds like you've made up your mind. Go buy that house.
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  77. wait
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  78. Supply is low due to Covid. That's all about to end with Omicron.
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  79.  @elbarodriguez6599  Biden closed Keystone XL pipeline causing gas prices to go up. Biden shut down mining in Pennsylvania. Made a mess of the boarder. He's fucked up lots of things. You need to get educated.
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  80. If you plan on being in the home for 10+ years then go ahead and buy.
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  81. When the stock market goes way down they won't have so much excess savings.
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  82. So you bought for about $90k and freaking out?
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  83. Time to start saving and investing to become upper middle class.
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  84.  @brianmatthews4149  1500 for tax a month or year?
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  85. Where is this home located?
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  86. How much would the dead AC have cost?
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  87.  @gwyn111  Landlords have large mortgages. If you buy lots of investment properties you do not get a 30 year fixed rate, you get a 3 or 5 year ARM. They will be selling if the rates go up.
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  88. Get real.
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  89. Cali people leaving the mess they created is why PHX is so high.
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  90. Normal increase has always been 3% so it's not going up, but inflation certainly is.
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  91. Rising rates cause RE to fall.
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  92. THANK YOU.
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  93.  @memo3252  When prices fall their equity goes to zero.
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  94.  @efun8334  Yea but when you sell you won't be negative.
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  95. Government buys up the mortgages. FHA = Federal Housing Administration.
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  96. I just bought a fully loaded 4x4 F150 Lariat last week and it was $60,880.
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  97. Why didn't you buy 5 years ago when everything was 50% less?
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  98. Get out of Cali unless you're a progressive liberal. They're nuts out there.
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  99. How many people who bought in 06/07 are still in those houses? Not many.
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  100. Yes, interest rates do decrease home prices. You can't predict the exact top, it takes a year or two before we know it. You will be glad you didn't buy a house in Boise come next year.
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