Comments by "worn down" (@worndown8280) on "The US Housing Market Just Imploded (Worse Than 2008)" video.

  1.  @tomo1168  most people never sell and take profit. They hold and lose value. Every time. Because most people dont look at their primary residence as an investment. To them its just a home.
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  2.  @KirkFickert  apparently you have never heard of the term, "capital investment". lol
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  3. This idea that prices wont come down is an odd one. We have had a historic one time event when demand peaked (demographically), money was artificially cheap (All time low fed rate) and supply was cut (Covid). And all three things happened almost overnight. 2020 saw peak demand for housing, yea it was the peak as the largest part of the Millennial cohort entered the family creation phase. Going forward its going to be less and less and less every year for at least the next 25 years. Even then it probably will still decline. And for every two Boomers who die there will only be one Zoomer to take their place. This kind of thing happened already in Japan. Now they are giving away free homes there. Korea, China and most of Europe are having property crashes as we speak. This is what happens when you dont have enough babies over 50 years, demand dies. The cheap supply of money is gone and its not coming back. People need to stop thinking it will talking about a fed pivot. And the whole "there isnt enough inventory" thing, well again, people dont understand how homes get priced. New construction sets prices. And right now they are cutting prices because they have bills to pay and they are sitting on 8 plus months of homes that need to be sold. Add to the fact that to sell them they have to do rate buy downs, in a year or two when they adjust, many of these people are probably going to lose their homes just like in 2008 with ARMs. This says nothing of the highest building rates of housing since the early 1970s to cope with the income boomer cohort. And add to it 15 million empty homes already existing but not being sold. We probably already have a housing glut. Market psychology just hasnt changed yet.
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  4.  @tomo1168  Yea the first guy who sells in a down market, for whatever reason, sets the new comp. And then people start to cry, but last year my house was worth "$X". lol
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