Comments by "Josef" (@josefj1776) on "Real Estate Mindset" channel.

  1. I have one card and our fico was 813. So no you are wrong.
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  2. Just before the “2014 crash” I bought my new home for 151K and got a refrigerator and a fence with $10,000 to closing costs.
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  3. Why? Taxes are extremely low!
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  4. This is normally the slow season and we get the most price reduction this time of year. In a normal market it should take 3 months to sell a home.
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  5. This is one of the reasons I bought my house with no crazy cost increases.
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  6. Owning a home is extremely important if someone wants to retire. I learned from my grandfather with this as he only had a pension of $500 and SS to live off of. He traveled across the country multiple times and to Alaska multiple times. This is because he had a tax payment of $450 a year( he called this extremely high and criminal). I plan to have a much higher retirement income from my investments but a paid off home is cheaper to live in than any rental.
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  7. I enjoyed buying our house last month with a mortgage of 4.65%
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  8. Back in 1980’s many people felt they could never own a home. Home prices continued to increase. We are still seeing this today with the rate increases. The average time a home is on the market is 17 days. Price cuts don’t say home values are going down it means people are putting their homes to a more of a true price of that home. There is a massive demand still for homes or the average time would be a lot longer. Household savings have always been very poor 60% of households dont have $1,000 for emergencies and 40% dont have $400 it has been this way for 30 years. The average FICO is 750 for home buyers. I was at 810 when we bought in 2014 it as taken that long to get the scores back up to 810 as buying a home caused FICO to crash. Over all things are pretty good hell unemployment is at record lows Your data doesn’t show the homes are selling under valued.
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  9. Best of luck I know my mother regrets selling her house when she had a mortgage payment of $500 a month. I wouldn't sell my home when I would rent for a lot more than my mortgage. My mortgage is $900 a month with property taxes and insurance. I wouldn't want to rent for $1800 a month.
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  10. Still waiting for this “crash”.
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  11. Foreclosures in Florida are extremely low how are we having a wave? There is next to no foreclosures.
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  12. People are freaking out that it is taking longer than 17 days to sell. Over all the market looks to be returning to normal with a flat market in some areas value may go down 5-10% demand remains high for the number of homes for sale. It is so funny how many think there will be a crash like 2008. LOL some people don’t live in reality.
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  13. Foreclosures are at 33,000 this year an increase of 180% over last year. This is at a record low. A foreclosure takes 900 days to complete……LOL they are not an issue.
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  14. The issue is inventory is extremely low homes are still selling very very fast in less than 19 days on average and 88% sell in 30 days. Rates are very low. Foreclosures are extremely low,
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  15. Is it? Have any evidence?
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  16. it is sad that people always bring up the labor participation rate when that number includes everyone from the age of 16 to death. That means if your 85-year-old grandma is not working she is out of the labor force and if your grandpa is working he is part of the labor force.
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  17. You told us last year would be worse than 2008 with foreclosures. Where are they? We are not even close to 2019 levels that you said was the greatest economy
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  18. Cool. Has no effect on me my mortgage is 3.75%.
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  19. “Indeed, “it’s important to note that many of the foreclosure starts we’re seeing today — in fact, much of the overall foreclosure activity we’re seeing right now is on loans that were either already in foreclosure or were more than 120 days delinquent prior to the pandemic,” says Sharga. “ From your own source. This “increase” is not an issue remember it takes 900 days to foreclosure on a home before this pandemic.
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  20. Incorrect a home is one of the best retirement investments of all time.
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  21.  @dsdddsd4543we  that was the start of the suburbs not the housing industry. The interesting thing is Minorities were banned from FHA loans and VA loans for many years in fact the government forced neighborhood to ban selling homes to non whites to get an FHA loan. The 1929 crash was the first crash in home prices.
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  22. LOL
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  23. There is a difference with a crash and a correction. Demand is healthy compared to inventory. You see houses are on the market for 17 days. People panic because it takes more than 15 days to sell a house. This is not a crashing market a reduction in price is not a reduction in value. People getting loans today have to have a lot more qualifications then before 2008 he’ll the average FICO score right now is about 740. The economy even is not as reliant on housing like 2007
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  24. So it isn’t 18 million buyers it is 18 million households. That is a big difference. There is still a high demand for buying a house as the average time for a house on the market is 17 days. Recession and does not mean home prices go down nor does rate increases.
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  25. Most experts have said we should have a 5-10% correction some have said 15% so far as a whole prices have not dropped.
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  26. Save there is a demand as a house takes only an average of 17 days to sell.
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  27.  @realestatemindset  in general we save more than other generation and there is more of us in the workforce.
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  28. Enjoy. The most important thing is to be happy with your choice. They were talking about a housing crash back in 2014 when I bought.
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  29. I bought our home because my wife was 6 years from retirement in the army and we liked the area. We had to stay in for 9 and not 6. It is a three bedroom house and there is no reason to move to a bigger home because the kids will be out in a few years. Owning a home is one of the best retirement investments you can have. If you lose a job get a new one no need to move. This is what people did in the good old days.
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  30. And yet homes are still selling fast. This tells me inventory is still low.
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  31.  @Encephalitisify  taxes are extremely low.
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  32. Sadly the inventory is at record lows still. They need to increase by well over 100% to be normal. Right now it takes an average of 17 days for a home to sell. And so far home value increase is still going up just slower.
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  33. I remember people calling for retiring boomers causing a housing crash in 2014. It didn’t happen. There have been more predictions of crashes than actual crashes.
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  34. Why would losing equity be tougher?
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  35. With a inventory of 2 months and most homes selling in a month we are not seeing much of a crash in home value. In fact over all it is exactly inline with what the experts have said it would be.
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  36. With unemployment at 3.5% 187K new jobs is very good. Remember we have 6-7 million people hired each month! With the number out of the labor force, we Knew that number would increase for many years! These are mostly are people that are Studnents, stay at home mom’s, elderly that have retired. Of this group only 5 million want to work but will not look for work 1 hour out of 4 weeks.
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  37. I for one am happy I bought and didn’t wait for that massive crash in 2014….. no one knows the future.
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  38. 10% change is next to nothing.
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  39. And the average home takes 19 days to sell!!
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  40.  @realestatemindset  not all recessions cause a housing price crash. We are not seeing the massive rise in foreclosures. They are at record lows.
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  41. It isn’t just one data point people are looking at. Supply is very low and homes are still selling fast. Fishing looks like it is going away and that is a good thing. Also there is no reason for them to sell rentals as they are making a good level of cash flow rents are very high. The economy is not as strongly tied to housing like in 2007 and unemployment is extremely low planed layoffs are at record lows! Foreclosures are at record lows! But you can’t say people cutting their “fishing” prices does not mean the values of homes are going down.
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  42. We need to see inventory increase by a lot more. Average time it takes to sell a house needs to increase by a lot more also. We are not seeing this type of crash unemployment is extremely low we are still seeing record low layoffs. We will most likely see at the most 5-10% correction.
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  43. So you want to call a 85-year-old unemployment?
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  44. “The U.S. Bureau of Labor Statistics (BLS) defines the labor force as all people who are 16 years of age or older and are either employed or unemployed and actively looking for work.” Learn
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  45.  @thethinbluelinetv  I see the world how it is not how I am or how I want it to be.
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  46. Most people knew retired people would have issues because their retirement accounts were 200K when going into retirement of the people that actually saved.
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  47. I don’t really know what you’re talking about. Property taxes are extremely low insurance is low.
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  48. I love it. America is a great place to live.
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  49. That many have lived paycheck to paycheck for over 50 years.
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  50. It looks like new home builders are slowing construction
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  51. I don’t see a reason for such a decline.
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  52.  @silky2204  oil has not been in the CPI for over 70 years. Job losses are at record lows, mortgages behind are at record lows in fact all that you posted is at record lows. And the fed said they are going to work on lowering home price increases by increasing inventory and that is still at record lows.
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  53.  @Resmith18SR  Georgia and North Dakota.
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  54. Still waiting for this crash that was to happen in 2014 when it was extremely bad for housing.
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  55. There will be a small correction. But if inventory continues to remain extremely low and it continues to take less than a month to sell a home it will be even less
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  56.  @profitmix441  if they bought over the price they had to have the money to over pay because they won’t give you money to over pay for a house. If inventory returns to normal prices will go to normal. Not even close to a crash.
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  57. I see the correction on average being 5-10% as inflation is near 10% that puts many home values increase as being a small amount over normal increases. Some makers may see 20% because they went up 30%. The man push back is inventory is very low, time to sell a house is extremely low taking well below a month to sell, and foreclosures are extremely low. Homes are very much supply and demand and right now supply is not meeting demand.
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  58.  @realestatemindset  inventory is growing but it is on the market very short time 88% of homes sell in 30 days. It should be closer to 60-90 days.
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  59. Things are pretty easy right now. Foreclosures are record lows for a very long time and still are. Normal numbers is much higher. Cost of owning a home hasn’t changed it is the same as 2014 when I first bought.
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  60. Occ the unemployment benefits has nothing to do with being counted as unemployed. It is “if you have no job and are looking for a job.”
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  61.  @HappyPenguin75034  in GA it is a 3 bedroom 1500SQFT house built in 2014 the year we bought it(closed the day after the fence was put up and appliances installed).
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  62.  @youvegottoseethis5615  what on earth are you talking about?
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  63. Some are many are not.
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  64. Save we have 6 million hired every month.
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  65. So we have been slaves since the founding of America.
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  66.  @missylearned9821  the average time a home is on the market is 17 days. No all homes are equal and will stay on the market longer.
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  67.  @matthewphillips5483  I have no cohorts I simply post facts and see the world how it is. Where is the 40% crash from 2014????
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  68. We need to see other things first. We need lower job creation, higher unemployment, much higher inventory (as it is at record lows), we need to see it take longer to sell homes, we need to see much higher layoffs, and rent decrease this is just to name a few things.
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  69.  @craigmcpherson1455  so you will pass a law people can’t retire early?
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  70.  @craigmcpherson1455  so you want them to collect SSDI then because that is what they will do.
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  71. He donated the same amount to the republican part. It is often such criminals do this.
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  72.  @SigFigNewton  incorrect they have predicted a 5-10% national drop in value a correction. In some areas the believe it is possible for a 15-20% correction. No crash. Here they are calling for a 40% crash national. They haven't changed what they predicted. Last year they said the foreclosure surge started yet it is far so far below normal levels you can see it.
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  73.  @SigFigNewton  and their long term still stands. We didn't have that crash in 2022 and we still had a value increase that year.
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  74.  @SigFigNewton  median sales price and and median value are two different things.
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  75. Payday loans are far worse.
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  76. 5-10% in America sounds about right.
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  77. My concern is that with inventory collapsing. This is throwing the median sales price off as being an indicator of a home value decline home value in sales price are two different things.
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  78. Most of those were evicted last year.
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  79.  @benrichards9667 no one buys the average.
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  80.  @bobroberts2217  but you crash experts were calling for a 40% crash of home prices in 2014 due to them not being affordable and an increase in supply why didn’t the crash happen in 2012? 2014? 2016?2018?2020? Every one of those years was going to be a massive crash but nothing.
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  81. I suggest you get a savings then and make sure you are of use to your job and potential changes.
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  82. Homeless in American gets trillions, vets gets trillions, disable gets trillions in America. Ukraine is getting expired weapons. All money well spent.
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  83. The NBER is what puts out when we are in a recession not the White House. LOL do people really have no clue about this? Unemployment is extremely low with over 12 million job openings!!!!
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  84.  @Navs126  ok find me a place that rents cheaper than $500 a year. If you can’t find that in America then you are wrong on it being an investment
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  85.  @neiterperu3680  LOL no they buy them cheap and rent them almost 10% of home value each month some times more. Hardly a loss.
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  86. In all fairness we have had only two housing crashes twice in over 150 years. That was 1929 and 2007.
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  87. My wife and I both have a FICO of 810 and I would never recommend going over that 30% as it will cause your score to go down. We we both use the same card and only have one card with a limit of $30K
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  88. The billion price study show the CPI is over all accurate.
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  89. I may disagree with you but trolls are the wrong thing to do.
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  90. If you are retired, your home should be paid off
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  91.  @toinengwyn3935  that ended a long time ago. We have 2021 and this year on top of each other.
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  92.  @fusiondensity3287  yes they are and they are record lows.
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  93.  @winniethepoohandeeyore2  actually the starts are tracked right now. You are looking at the final ending.
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  94.  @winniethepoohandeeyore2  yes that is record lows
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  95.  @mrxiong2567  100% agree
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  96. Yet the average time a home is on the market is 17 days
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  97. Save people that lose their jobs get a new one. Remember 6 million a month is hired.
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  98. LOL demand crushedLOL yet it takes 14 to sell a house………. Sounds like no one is buying a home LOL
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  99.  @realestatemindset  not all markets are the same. Where I live over all homes are selling fast.
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  100. This paycheck to paycheck number is normal. If you want your mind blown look at that number broken down by age.
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  101. I think supply will have to go up a lot more for that to happen. It may be a large leveling in price of rent like homes.
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  102.  @matthewphillips5483  what I say works and builds wealth.
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  103. True. We have 10 million job openings ready to be filled and we have 6-7 million people hired every month.
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  104. We will have to see. Layoffs are extremely low. But if you lose a job get a new one as 6-7 million people are hired every month.
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  105.  @matthewphillips5483  just posted facts.
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  106.  @matthewphillips5483  if you have skills you will always have a good job. And many of those jobs are actually good paying due to the fact that boomers are leaving the workforce in record numbers and are being replaced. They keep track of layoffs. Feel free to look at past and present numbers. So if you lose your job get a new one it is very very easy.
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  107.  @trucktruck588  and that is next to nothing. But I find it funny how you think they will sell everything they have and crash the economy so their investments will lose value and can’t sell for a profit.
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  108.  @videogarage9221  I don’t think Truck is one.
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  109.  @videogarage9221  people who buy anything they always have buyers remorse. That is nothing new. Just look at reality and there is nothing to fear.
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  110.  @Vicrattleskull2028  one thing many are ignoring is housing stays on average with inflation many times a little higher. And inflation is close to 10% that puts the over price of houses to 2-10% in most markets.
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  111. Tell us how does FOMO factor into this?foreclosure’s is at record lows even defaults are at record lows!
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  112.  @Trinitybolduan  wrong it is 16- dead
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  113.  @cdweber4547  when an 85-year-old has a job they’re part of the labor force. if they don’t have a job and are not looking for one, they are out of the labor force or part of your 35%
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  114.  @Hebrew42Day  so tell us why are 3.5 million 75 and older Americans are in the labor force and the rest are out? Yet you say the are lying because they don't track it as it is on their website.
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  115. Hebrew so a 85 year old working is not part of the labor force starting when? The BLS still counts them
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  116. I would say keep investing into the stock market. It might go back it might not. Unemployment is extremely low, houses are still selling very fast with low inventory.
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  117.  @ronaldwhite4223  yes inventory is going up however it is extremely low it is taking 19 days to sell a home!!
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  118.  @ronaldwhite4223  so are we waiting for a crash like 2014 where the market was 40% overvalued? I know investors selling their remodel homes for 160K 10K above value and they still sell just takes 25 days a little longer than the week it took in 2021.
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  119. It takes almost no time to sell a house 14-18 days!!!
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  120. Money well spent.
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  121. mdfrtech i dont need to keep telling myself. Facts show it. A rank 18 in military power nation is pushing back the number 2 military in the world! In fact they have invaded them.
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  122. Homeowners weren’t duped they signed the line. They knew the loan they were getting.
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  123. Good news inflation is back to below-normal levels
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  124. Good news we have 10 million job openings and we have 6-7 million hired every month.
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  125. It is very easy to get a job 5-6 million get a job every month.
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  126. What is really mind blowing is we have 10 million job openings and we have 6-7 million people hired every month!!
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  127.  @worndown8280  you think that…. Have you looked at how many actually get benefits? Most have no clue how low that number actually is.
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  128.  @timeforachange-i3s  tell us the exact number of ARM loans are being made.
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  129.  @enthused7591  what foreclosure crisis? It is up 188% to 33K a number that is at record lows to the extreme!
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  130. So far home prices increased YoY 20%.
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  131.  @realestatemindset  MoM average home price has gone up. The Value increase of a home is a different number than what it wells for and different because not all homes are for sale. As it is it takes an average of 14-18 days for a home to sell.
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  132. So Las Vegas is now at fair market value remember people are saying true inflation is at 29%
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  133.  @michaelb4546  supply is at record low because less are being sold. We are also seeing homes still being sold at a record speeds. Average time it takes to sell a home is 18 days normal is closer to 3-4 months
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  134. Why didn't you get a new job?
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  135. LOL you for get inflation reduced that actually “bubble” so DC is 2% out of normal inflation and others are below 30%
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  136. Well the average house of on the market for 17 days so they are selling.
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  137. 130K is actually is what should be expected with unemployment being so low with massive amount of job openings and 6 million hired a month.
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  138.  @derekrivera4481  nope I was looking at a flat market to a small decline. I am still waiting for the 2012 housing market people were screaming about. The 2014 didn’t happen also the 2016 crash didn’t happen also. So many crashes just never happened.
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  139.  @derekrivera4481  prices of homes still went up also and on average take 17 days to sell. That isn’t a crash in any way.
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  140.  @toinengwyn3935  this isn’t 2008 where everyone at McDonald’s was buying a 300K house. This group buying houses are over all more financial responsible.
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  141.  @joshfarrow2916  who is fighting them?
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  142.  @joshfarrow2916  save they understand they can’t change the inventory and that is extremely low. That is why prices of the average home hasn’t changed.
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  143.  @toinengwyn3935  incorrect a small majority that defaulted were prime buyers and they were track seen at the end of the crash. Right now we have a massive labor shortage with over 6 million people being hired every month far more than the 2006-2008 numbers. The housing market is not the driver of our economy. Right now we have nothing as a main driver. That is why unemployment is such a low number with so many openings left empty. We don’t see banks changing how they are doing lending like the 2007 changes.
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  144.  @fusiondensity3287  I did buy a home for what I was told was double what it was worth back in 2014 for $151K a new home construction. Everyone was calling for a 40% home price crash then. It never happened. Now I am paying over $1,000 less a month than some one renting.
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  145.  @matthewphillips5483  LOL the stock market and housing market is very much different things. It is funny how people say housing goes from boom to bust always. It doesn’t it also goes flat in the 1980’s it didn’t crash.
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  146. Well if you want a job you can get a job unemployment is extremely low in my state 3.6% my brothers state it is even lower almost 2%
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  147.  @alexdavidson7785  don't worry if you have skills you will get a new job no issues.
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  148.  @Resmith18SR  that is your choice. Most of the red states have extremely low unemployment.
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  149.  @JD-vm5wl  not possible Biden ended all oil production in America. You're such a liberal.
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  150.  @lukerutherford3293  with 88% selling in 30 days it is going fast.
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  151.  @matthewphillips5483  lose a job get a new one easy thing to do.
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  152.  @shouse5110  and all of those are at record lows. It would be normal for them to go up. If they didn’t that would cause a major issue. Unemployment should go up to 4% but the number of people that want to work is very low and job openings extremely high. We have 6-7 million a month getting a job that is an extremely healthy jobs market.
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  153.  @shouse5110  that is in all catalogs. But I love how you try and make this anecdotal. I am not a good comparison for getting a job as it has never taken me more than a day to get a job. I have had 10 jobs in the last 22 years. Considering that there are 6-7 million hired every month many others have the same easy time getting a job. Remember unemployment is at 3.5%
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  154.  @bobdees6428 what crash? Home prices are still going up.
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  155. Yes Trump banning oil drilling created millions of jobs😂😂😂🍿🍿
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  156.  @josemora9477  no trump did off the coast of Florida.
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  157.  @bobroberts2217  but it does already increased by 1000%. That means we are in a crash right nowLOL
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  158. But they said rent will fall 50% this year….
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  159.  @markpitchford7375  it isn't over and rent isn't falling.
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  160. Yet they are not declining. They are still increasing. It only takes 18 days to sell a house even rent is still increasing.
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  161.  @jorgeachievementhunter2240  50 days is a normal healthy time to be on the market.
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  162.  @matthewphillips5483  Dave is funny. You can call him elementary for controlling your finances. I prefer “the money guy show” Debt is just a tool very useful but if you miss use it it can hurt you. Unlike him I see the housing markets possible decline of price of 5-10%. There is no major driver for a larger.
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  163.  @silky2204  did you think builders scamming people is new? They have been doing that for over 80 years. I am sure it goes even further.
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  164. It is a very good pay and benefits.
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  165. Still waiting for this crash they said would happen in 2014 when homes were at an extreme unaffordable.
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  166. If you get laid off you just get a new job remember 5-6 million are hired each month.
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  167. Homes are still selling extremely fast it takes 19 days to sell a home.
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  168. Get laid off get a new job easy remember 5-6 million a month is hired.
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  169.  @tobyk5149  it is simple. Sadly people are lazy and only look for a job 10 hours a month and then say no one is hiring.
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  170.  @geneadaway2671  the unskilled need a job too.
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  171. Gene then get a job as an Uber Driver and make between 13-25 an hour.
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  172. Get use to it we have been in the workforce for over 25 years we have been taking care of our parents and kids and there is more of us in the workforce than any other generation.
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  173. Unemployment benefits have no factor for the unemployment numbers.
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  174. That is the upper middle class for you.
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  175. Yes that foreclosure numbers is extremely low.
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  176. Homes are selling fast. If you can buy a house buy it. I didn’t wait for that massive housing crash in 2014 and I am happy buying a home with 0% down.
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  177.  @realestatemindset  that sounds like a myth because every time he as said the only times we have had a massive nation wide crash was in 2008 crash and 1929 crash. Not even the largest interest rate time did housing prices go down 5% in the 1980’s
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  178.  @matthewphillips5483  I look at the entire picture and I can see it isn’t in a collapse. You see yet inventory is going up but as an entire picture it is still very low. 2020 levels were very low also.
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  179. Only DC and territories can say that.
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  180.  @defrank1870  that is not taxation without representation. it’s taxation just not the way you want it.
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  181. Interesting they were extremely low all types of personal bankruptcy were down in 2022 at 370K.
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  182. Here in GA they are selling in 9 days on average
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  183. So why are Red states lying trying to make Biden look good?
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