It’s a real problem, especially for someone like me That’s looking to buy a house. Hopefully everything calms down soon.

You, Brad, and Matt have inspired me to be more entrepreneurial. I work full time as an occupational therapist, I recently started fishing content creation, and tomorrow I begin classes to get my realestate license. So for that, I thank you!

The whole problem with our economy, politicians, country, and personal finance is that people can’t say NO to anything. No one has the balls to say NO because they are always afraid of what someone else may think of them. Keeping up with the Jones at every level.

Yes. The 80s saw 15-20% interest rates. The main difference is the price of a home. If I’m looking to buy a 75k home in 1981, I can deal with the high interest rate. If I’m looking to buy the same home today at 500K at 7%, it isn’t the same game. It isn’t even the same sport. The prices at some point become untenable. We need a HUGE change in the leadership in government. Someone that actually has owned/run a business. Not career coddled politicians. This is just one man’s perspective. Aloha

You are absolutely correct!

Option 1: Move outside all major and even cities with any significant population and take the commute hit for work and goods. Option 2: Find a new builder or retired licensed builder and work with contractors to build a small home and pay as much as you can with side gigs and other small loans if possible. Learn a small portion of the trades that do not require licenses and get in there. Option 3: buy land/dilapidated trailer home with well and septic already in place, remove old mobile home, purchase a used mobile in workable shape and renovate, sell it in a couple of years or work on getting a permit to build on the same property and infrastructure. Option 4: purchase a home with a scenario that could produce income and u reside there...there are places zoned for commercial and residential. In one way or another, I've personally done 3 of the 4. Stay in your current situation or live in the here and now of this poo poo show and work with what's possible thinking completely out of the box. It's a bad situation...not good for anyone without 6 figures of extra $ so the paths to choose at this time include continue your current path, make a decision not to participate in the real estate game at all, wait/hope, get a van and become a YT van lifer, do something scary/risky or pick a crime and get free, very small communal housing provided by your local authorities. Take this as satire or objective truth, but at least I provided more options than the gov. Peace be with you

The 5th option a different president 😮

Great video!

Hi Brant, I live in South Georgia and I've been wanting to sell my house which I bought in 2020 with a 2.9 percent mortgage but I don't want to have to pay 7 percent interest rates.. We could buy the rate down so thats an option, however, the problem with Florida right now is I'm hearing no one can get insurance down there and if they do get it the premiums are so high its not even worth it. I think Florida is about to go through a major crisis because of the insurance issues and your about to have a giant condo problem with everyone dumping their condos because of the new inspection fees.

I'm so glad I found you, and you're 100% correct. My husband and I aren't budging from our 2% interest rate! Our prepandemic goal was to sell our current home in Arkansas to move to Navarre. Now, we'll probably just vacation more in the RV upon retirement. Side note...we'll be headed to Ft. Pickens for 2 weeks in July and excited to be there for the 4th! 🇺🇸

Homebuyers in most markets can wait - 25% to 45% markdowns are coming in 12-18 months.

I turn 62 a week from now, been mostly retired for 4 years. When I retired was not worried if I had enough to live out my life the way I wanted to now I wonder. We are fortunate that we own two homes outright, right now I'm drowning in the expense of up keep on that. We plan to move to our home at the lake in about a year and always planned to rent the other house for about 5 years as investment property. Now because of value of house and interest rates not so sure would not be better off selling home and investing the money in CD's that you can easily find at 5%, I would clear 600-650K on the sale of the house. All I know is what you stated we all no we are paying WAY more for things then we used to and sadly enough they want us to be happy because the rate of increase has slowed down. I partially think part of the problem is lack of competition, and they know now we will pay what they say it cost. Wonder what change this election will bring, time will tell.

House prices in places people want to live in Jacksonville are up 100% since 2020. A lot of food prices are up 30%, or much more, since 2020. Cars, like you said, seemed to have doubled in price. Trucks are just crazy now. Vehicles are selling for more used, today, than they cost new in 2020 or 2021. I don't understand how anyone in the bottom 95% could be doing better today than in 2020. The only thing I think which would really fix the prices, would be laws preventing wallstreet from buying up half the houses, and forcing them to divest themselves from the single family housing market. To me, I think a federal 4% property tax on every home past the 2nd or 3rd would solve a lot. People could still have a vacation home or a couple of investment properties, but we wont have these huge investment groups swooping in for anything thats a decent deal, for the time, with an all cash offer. And these big companies do not want to spend money on the homes they own, so millions of homes are not being maintained, and will be in very poor condition in the next 10 years.

Assuming there is a market collapse, do you think it wise to immediately go buy a house?

We’re in the same boat I’m personally hoping for a rate hike that way prices start to come down. I can always refinance once rates drop so I’d rather buy at high interest and low housing prices not the other way around

Today is the worst time in US history to buy a home from a affordability standpoint. 0% down mortgages are now available, with virtually no takers. Dropping the FED rate .25% in December will also not stimulate demand. In FL the inventory is now the same as 2019 when a $70K per year salary could afford the average house. Now it takes over $100K. Inventory growing / buyer pool shrinking=price correction /crash IMHO.

Keep interest rates high, thanks

One of JPow's finest "let them eat cake" moments.

All I know is that I'm glad I live in a house that is apart of the compensation for my job as a pastor.

The federal reserve is not federal 🤫

Dropping rates now would just add kerosene to the inflation fire and result in exactly what you said - huge competition to buy. IMO the fed is going to talk about lowering rates/etc. to keep optimism alive. If they came out and said we're not going to drop rates for years that would spur a lot of panic within the market. Instead they're going to dangle the rate drop carrot infront of us so we stay in line. The whole point of raising rates is because things got out of control. They have incentive to keep them high - and the longer they do the more pain will come. Unfortunately this is needed pain, and pain that doesn't happen overnight. These rates will have the intended impact of slowing things down, it just takes time. Dropping them before they address the reason they went up in the first place wouldn't make sense. Pack a lunch, we're going to have high rates for a while.

Job market is slowing. It’s not what you hear it’s what you SEE

Glad we locked in on our waterfront property at 2.9%

I’m thinking if it’s a really bad hurricane season in Florida, you might just see a significant housing crash.

I agree with a lot of what you said, but this hasn’t been the past 4-years. This was set up and started 5 1/2 to 6 years ago. During the pandemic many of the worse decisions ever made in this country took place. Government was handing out money hand over fist to people. Many of which made less working then what they got in handouts. All that money given was a bad deal. Due to the pandemic more foreclosures took place then I can ever remember in my 61 years. Those foreclosed home were bought cheap. Then, sold at a much higher price as the pandemic ended. At least in the Midwest. Once prices are raised, corporations tend to be very slow to drop. Materials used to build homes skyrocketed during the pandemic. Many of those material used such as wood has dropped back down yet the price to build home still is high. Several people I know will tell you that north Americas lumber is sent over seas. Sometimes to be processed and sent back as material goods. It’s sad to see so many suffering and losing their homes. My insurance for my home went way up in 2020 due to the extra cost of replacing it due to the wood prices. Now that wood has come back down, do you think my insurance rates have? Nope they remain high because insurance companies are now making record profits

Out with the Federal Reserve

Powell essentially said we don’t know wtf we are doing and this is all a house of cards got it.

The water is easy to read

You could buy now, and refinance when the interest rates drop

I don't think folks in florida can keep buying, even if its ZERO rate i can't get approved for a 500k home while working a decent job, the rule is 3x annual roughly so the median income is 60k I don't know how folks are going to qualify for 500k or have the money down even if rates drop, someone explain to me how the price hike stays in effect? unless it's just all out of state of money ? I make far above the median and I can't buy a 500k home right now I dont have any friends that make 190k a year either so whos going to buy ?

Maybe once people starting chaeting the 10 year yield they will learn they are being lied to. There is no cut coming. The 10 year yield chart is currently mapped out to goto 7%. That means rate will rise. The people follow the charts not the other way around. Its easy to see if your someone who trades equities everyday. No trader is looking for a cut. Its just not possible for them to.

I don’t think a small move in interest rates will make a difference. It happens slowly.

I’m no economist but I think that we are in uncharted waters. COVID really changed the world and we have and will be feeling its effects for years. I just don’t think that it’s a Republican/Democrat issue.

Interest rates still are not at the highs of the 80s, 90s, early 2000s.

I’m waiting and not for rates to go down. In fact, that’s the last thing I want. Inventory is skyrocketing and the reality of homeownership is hitting a lot of people. Buyer’s remorse is high. I bought my first home in 2015 and know that enjoying the greatest equity run of all time would eventually come to a screeching halt. A downturn would be good for everyone except the real estate agents, mortgage brokers, and flippers that enjoyed that gravy train with enthusiasm as the market split from fundamentals. Not sorry at all if it happens. I was in a luxury business myself and already made a pivot. To everyone else waiting, cheers! Hold!

Nope. Sales will pick up after bubble bursts and prices correct.

If people aren’t buying, you don’t have buyers

It's called the great reset..they told you this would happen..nothing will go back to the way it was..the greed is to great..prices may relax but never be the same as before convid..cheers

Prices Are Too HIGH.. We really need a CRASH or reset..

Out of touch, tone deaf politicians. I worry for our country.

What's with the comment censorship Brant? It's exclusive to your channel as far as I can tell.

Recipe for disaster unable to pay debts and want stop printing money a.k.a. deficit spending!

Behold...the greatest wealth transfer the world has ever seen...and YOU vill eet ze bugs.

All Americans are feeling the pain from this current administration, except the ultra rich….. Trump 2024!🙏

Let it crash

Trump 2024

My 8th grader understands better than this so called official or expert.

Cost of living was fine during Trump's presidency/pre plan-demic

Free credit and cheap credit = inflation Question: when can we get lower interest rates to make things affordable again 🫣🫣🫣🤨😖