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Пікірлер
@the-beneficiary1809 8 сағат бұрын
WTF do you mean recession we are already in a recession and have been in one since 2019.
@orthopraxis235 20 сағат бұрын
The graph at 8:15 doesn't really have meaningful interpretation because the "zestimate" includes BOTH actual sales prices (a fact) with listing prices (complete speculation, seller's wishes, a made up number). When that home is sold, the point on the graph that represents that sales price will make the graph meaningful. Comparing apples (the actual price something sold for) and oranges (the listing price, or in other words the wishes hopes and dream princes of sellers) on the same line doesn't provide any basis for accurate analysis. Do we kNOW that that home will sell for $1.354 MM?no we don't. The only certainty is the last sales price, as i have mentioned before. The only FACT is the last sales price of a home, whether it be a sales price a year ago, last week, or years ago. if that home hasn't sold, and you wanted to kind of estimate what that home MIGHT sell for now,the only close accurate measure of the sales price would be the most recent sales price of a comparable home, closer in time to today. Maybe there is wayyyy tooo much faith put in a Zestimate. These kind of overinflated asking prices only benefit zillow (more income) sellers (more profit) and real estate agents (more commission per sale, but maybe less sales) and counties (increase tax dollars via higher tax asessements from higher appraised values). if they influence people to think these super high unrealistic asking prices are the norm and the buyers have FOMO (fear of missing out), pretty much scared into buying at these ridiculous prices for the fear that prices might even rise. Buyers right now would be well advised to gather together and just not purchase anything. If that happens, obviously sellers and agents would conspire to lower their prices to reality. It's, in a real sense, basically a scam. ONe thing is for sure, when the potential buyers cannot take it anymore, there is only one way for prices and home valuations to go, and that is down. There are a lot of hands in the cookie jar to display super high asking prices and valuations. Just simply follow the money, who benefits from these prices? I have already listed the top ones.
@lasvegasliving9237 18 сағат бұрын
That's exactly right regarding the sale price being the only thing that matters. However, to see how the Zillow algorithm works is disturbing based on the fantasyland prices the sellers are seeking and Zillow matching it many times with their zestimates. It has only gotten worse with these overinflated prices.
@ADIL702 21 сағат бұрын
So are we crashing or nah? Your prediction has been going for the last 4 years now. So what’s your forecast from here on? Another 2-3 years? And if so, is it really a prediction if you say the same thing for 6-7 years and it happens? Mind you except the 2008 recession, homes have always appreciated during recessions.
@lasvegasliving9237 18 сағат бұрын
It's funny when people tell me that I have been using the word "crash" and that I have been saying it for "3 or 4 years." I have never said we are crashing, I said we are overdue for a correction and have been talking about the potential over the last 18 months. I still think we will see that correction before prices ultimately go higher over the very long term.
@jefftong95 8 сағат бұрын
@@lasvegasliving9237how much of a correction 25%-40%? Or a small 5%-10% correction?
@lasvegasliving9237 5 сағат бұрын
@@jefftong95 A drop of 25-40% would signify a crash, which I don't foresee happening. A correction of 10-20% is possible if and when the economy falls into a recession
@user-kt4ft4rb8m Күн бұрын
How can people afford these prices!?? I see so many people buying.
@lasvegasliving9237 Күн бұрын
The average person cannot...it's most wealthy homeowners, investors and corporations.
@rxrinaz6536 Күн бұрын
Just sent you a text on Big Corp buying an entire neighborhood on Russell/ Durango.... " New homes for rent".... the nieghborhood isnt even completed yet ?!?!.... please expose the takeover !!
@dreamer6716 Күн бұрын
I think to really be honest you need to go back further than just a year or two when the pandemic hit everyone went crazy go back right before that and look at the price of that home Why would anyone in their right mind buy a home that went up that quickly in equity
@lasvegasliving9237 Күн бұрын
Sadly, people have no choice but to may these exorbitant costs for everything in this post pandemic time. Everything is grossly overvalued IMO and the pandemic was the ultimate black swan that essentially destroyed overall affordability.
@erich5686 2 күн бұрын
She's probably a Nurse!
@lasvegasliving9237 Күн бұрын
🤷♂
@Greylin 3 күн бұрын
50 years of “trickle down” has made millionaires into billionaires, and the working class into the working poor. Reaganomics, coming to a town near you
@lasvegasliving9237 3 күн бұрын
Sad but true for the most part.
@magicparkmemories 3 күн бұрын
We are in a depression now !!! People are not getting raises. Inflation ruined our lives
@lasvegasliving9237 3 күн бұрын
Even though wages have remained relatively stagnant and we've had crushing inflation, we are still nowhere near a depression.
@MrHarmonizr 3 күн бұрын
The house across the street from me (socal) sold 2 months ago for 915k, immediately renovated and placed on the market for $1,250,000 about 4 weeks later. There's been open houses for the past 4 weekends, only saw a few cars show up ever, price was dropped 100K and a week after that listing was removed.
@lasvegasliving9237 3 күн бұрын
It all depends on location more than anything else. I have heard of similar scenarios and also homes that are being renovated and flipped quickly. Thanks for sharing.
@johnriashi9524 3 күн бұрын
What an idiot!
@johnriashi9524 3 күн бұрын
Number 1 real estate source in Las Vegas? Please! The doom and gloom crowd never stops!
@lasvegasliving9237 3 күн бұрын
Everyone is free to have their own opinion.🤷♂
@johnriashi9524 Күн бұрын
You are right! It’s just that some opinions are greatly inflated! Your gloom and doom headlines as clickbait are grossly misleading and as a Real Estate Agent you should be ashamed of yourself for misleading potential homebuyers that the economy and Real Estate market are going to fall off a cliff while we are currently at near record highs! Sure, eventually there will be a downturn, it’s a cyclical business. The problem is, when it happens, you are going to come on here saying ‘I told you so’
@lasvegasliving9237 Күн бұрын
@@johnriashi9524 Like I said, you are free to have your own opinion but the 'gloom and doom' you mention is backed up by facts and data that prove how bad things are for millions of people. That's reality, not misleading clickbait.
@johnriashi9524 Күн бұрын
Cherry picked facts while ignoring any, and I mean any positive facts!
@lasvegasliving9237 Күн бұрын
@@johnriashi9524 Go ask the millions of people suffering or look at the thousands of comments in my videos justifying and commending my position if they feel anything positive about the economy and their finances.
@aalhdy 3 күн бұрын
Have two ❤keeping them on hold ,
@gratefulgirl2079 3 күн бұрын
Great info. First time listener and new subscriber.
@lasvegasliving9237 3 күн бұрын
Thanks so much for the support!🙏👍
@jjohnson8977 3 күн бұрын
Just sold a teeny tiny starter home in colorado for $550k. No way was it worth $550k. No way
@lasvegasliving9237 3 күн бұрын
Scary to see where prices have gone to and even scarier is the reckless FOMO buying behavior that has led us into this mess.
@garybacher236 3 күн бұрын
So it happens every 10nyears
@lasvegasliving9237 3 күн бұрын
Pretty close but this one is taking longer due to all unprecedented stimulus from the pandemic.
@calliel9159 3 күн бұрын
Unfortunately the prices keep going up as post the videos
@lasvegasliving9237 3 күн бұрын
Corporate investors, corporate greed and FOMO buying. Things will change down the line, everything is cyclical and RE down cycles historically take the longest to play out.
@michaels7258 3 күн бұрын
The longer the yield curve is inverted, the worse the recession will be. The curve has been inverted for quite awhile now.
@lasvegasliving9237 3 күн бұрын
Yes, the delay has been from so much artificial stimulus but likely will occur anyway based on the historical patterns of that chart.
@1974missy 4 күн бұрын
You use to have great LV real estate content. You have turned into a political head, dooms day head and straight up negative Nancy. Stay in your lane. Real Estate! 👋Bye to channel
@dq7143 4 күн бұрын
A reason why inventory may remain low is if the majority of homeowners bought earlier and have low interest rate mortgages. It would be crazy to give up that low mortgage rate and buy an inflated priced home.
@lasvegasliving9237 4 күн бұрын
True. They call that "golden handcuffs." Meaning, homeowners that own a home with a low interest rate and good equity can't afford to move because of such a difference rates and prices now compared to just a few years ago.
@chunckyfreshnut 4 күн бұрын
Will we see housing prices drop? Let's see homes drop by 40 percent. I have cash
@lasvegasliving9237 4 күн бұрын
We won't see a crash like that.
@JL-gp8bx 4 күн бұрын
The scram artist is back at it again!
@lasvegasliving9237 4 күн бұрын
Did I miss something?
@lasvegasliving9237 4 күн бұрын
You are doing better than most because you’re managing your expenses quite well. Unfortunately, with the devaluation of the dollar and higher interest rates, it is getting harder for the average person to get ahead. Thanks for sharing.👍
@douglasthompson9482 4 күн бұрын
Agree in every way, look at the airlines, travel, etc. things are going great. These fools will pay tremendously. No saving or money for retirement. Tens of millions are going to lose. Real estate agents are profiting dramatically in my area….lawyers too.shameful. My wealth has come from a conservative perspective and buying at tough times. Picking is going to be great.
@lasvegasliving9237 4 күн бұрын
Very true. Most of America has a massive spending problem and don’t seem to care about the consequences.
@acenine8149 4 күн бұрын
I also live in Vegas, and make 70k a year and I really don’t feel rich. My net pay is about 4K a month and my expenses are about 2k. Definitely doing better than most but it really doesn’t feel like it.
@Princess-ws2yt 4 күн бұрын
Thank you for valuable information you are providing!!
@lasvegasliving9237 4 күн бұрын
My pleasure!👍
@christopherherbert2407 4 күн бұрын
Americans are facing a tough time with their finances, especially concerning housing affordability and retirement savings.
@wehrine 4 күн бұрын
I'm getting worried about the rising housing prices. It seems like it's becoming harder to afford a home these days.
@V.stones 4 күн бұрын
Yeah, it's a real struggle. With the rising housing prices and stagnant wages, it's becoming increasingly difficult for many to afford homes, let alone save for retirement.
@sebastiaanthijn7982 4 күн бұрын
Absolutely. And with the fear of not being able to retire comfortably, people might be tempted to make risky investments or neglect proper financial planning, which could spell trouble for their portfolios in the long run.
@ericbergman7546 4 күн бұрын
It's a vicious cycle. If people can't afford homes, they might delay retirement savings, but if they focus solely on saving for retirement without considering their housing situation, they might miss out on potential investment opportunities.
@georgeearling905 4 күн бұрын
And let's not forget how the global economy plays into all of this. Economic instability, inflation, and market fluctuations can further complicate matters and add to people's financial worries.
@ericfowlkes4895 4 күн бұрын
In 2022 I was approved for a $400k home and made $78,000. Now at the end of 2023 I made $117,000 and still $400 house is out of reach. I really thought the harder I worked the better I would financially become. Not the case in today’s market.
@lasvegasliving9237 4 күн бұрын
That is very unfortunate Eric but I’m really glad you shared this here. This just goes to show you how much the dollar is devaluing against inflation and interest rates.
@1976theenforcer 4 күн бұрын
All these large increases in home value really only benefit the government (property taxes) and sellers. First time buyers are left out due to the high cost to buy. Investors are buying real estate as it is a safe place to put their money compared to banks. The dollar is going to collapse and the FDIC does not have the funds to cover it.
@lasvegasliving9237 4 күн бұрын
I agree with most of what you said but even owners/sellers are not happy having to pay those higher property taxes. It feels like a house of cards and it could get ugly when it’s all said and done. We’ll see how it plays out.
@MaxInLasVegas 4 күн бұрын
I watch your videos always the same message property to high, the market I Las Vegas is not slowing down. You have Institutional Buyers Californian Transplants International Buyers Infrastructure Growth I was in Los Angeles the other day where I saw a 3 bedroom house small for 1.8 million and I said to my wife this I Las Vegas in 10-20 years I think you are doing a disservice to your listener telling them to wait while prices continue to climb. They will become permanent renters. Two Countries where prices have not come down is Australian and Canada where a 3 bedroom 1 bathroom home in a working class area start at 800k. You can not predict the future price of Real Estate the way you are. I think this is a shock channel for views
@lasvegasliving9237 4 күн бұрын
I am not trying to shock people because most people are already shocked. The average person is getting crushed and I back that up with proof in each video. Everyone is free to choose what they ultimately want to do but the average buyer is simply being squeezed out from corporations and wealthy homeowners. It wasn't easy pre-pandemic and it's certainly not easy post-pandemic. Nobody has a crystal ball to determine if prices will go up or down near or long term. The likelihood is that prices will go up long term but we are certainly overdue for a correction IMO after several years of unprecedented appreciation. This will unfortunately happen once we see an economic downturn with a lot of collateral damage. Time will tell how it all plays out. Homeownership is just not for everyone and renting is by far the cheaper option today.
@MaxInLasVegas 3 күн бұрын
@@lasvegasliving9237 you didn’t answer the part of your crystal ball telling people to wait for the market to go down. What if the market doesn’t go down because it is not, I work with HML and other investors in Vegas as an advisor and the market is not slowing because of the major sport team moving here, infrastructure and they are discussing having another airport. So can you address your advice I would wait when the market may never stop look at Australia, Los Angeles, and Canada.
@chrishardin7183 4 күн бұрын
The yield curve is not empirical. It's just an opinion poll of bond traders. They have been wrong recently because they under estimated fiscal stimulus.
@lasvegasliving9237 4 күн бұрын
True and that is why the delay has been longer this time around but when you look at that chart is shows what is inevitable.
@Harleylady 5 күн бұрын
Hi Jerry: Sent a text regarding leasing as it’s not time to buy. It included my contact number. Thanks for the insight! Waiting for the plummet.
@lasvegasliving9237 5 күн бұрын
Yes, received. We'll see how it plays out.
@richardtaylor4565 5 күн бұрын
Housing prices won’t fall until mortgage delinquencies start going up. But that won’t happen quickly because many people bought houses with cash.
@lasvegasliving9237 5 күн бұрын
True and also many buyers are well qualified on the financing side. Unfortunately, we will need a recession that will cause a lot of collateral damage to finally see prices across the entire economy come down.
@minigirl6839 5 күн бұрын
It's gone beyond recession. It's borderline depression. I'm predicting if Biden is re-elected, a full on depression will occur. People will have to start eating their pets.
@gregorymiron8116 5 күн бұрын
Jerry we need to call this what it is pure unadulterated good old American Greed greed and I'll say it again greed . I hope that these investors lose their shirt. There is no room for greed in anyone's life especially in this economy.
@lasvegasliving9237 5 күн бұрын
It always has been and always will be about greed. It's just part of human nature. However, I do want to see a lot of these investors holding the bag when it's all said and done. They are the plague to the real estate industry.
@jaysmith6238 5 күн бұрын
175k total Gross income between my wife and I. We get by great. However, we bought a new build in 2021 with a 3% rate. The shitty thing is the same floor plan 2 year’s earlier was 100k less. Would have been nice to grab it in 2019 for 280k. If we tried to this today. We could not afford it. House is 500k now and that 3% rate is long gone. It’s all about timing. I would ride this out in and see what happens in 2025 peeps. What is going on currently is scary and unnecessary. I’m appalled to believe that 175k gross income would not afford a home for people these days in this once affordable awesome city LV. Keep the videos coming sir! I look forward to the next one.
@lasvegasliving9237 5 күн бұрын
Wow, thanks so much for sharing that Jay. It really is scary to think people making well into six figures feel money is tight and housing affordability is no longer feasible had they not bought a few years ago. Thanks so much for the support!🙏👍
@jaysmith6238 5 күн бұрын
400k condos in Cadence. Insane!!!
@lasvegasliving9237 5 күн бұрын
Truly insane!
@crow24230 5 күн бұрын
That home went pending in under a week. Weird huh?
@lasvegasliving9237 5 күн бұрын
Very weird. Scary and foolish buyers.
@user-bk1kc5kw9d 5 күн бұрын
Record prices Bro....
@lasvegasliving9237 5 күн бұрын
Yup. Crazy!🤷♂️
@twystedhumour 5 күн бұрын
Just broke through $100K mark and it's more than enough for me in No. NV. Since I've paid off my vehicles, I live on less than one paycheck that I get bi-weekly.
@lasvegasliving9237 5 күн бұрын
Good for you! Smart!👏
@wavyca 5 күн бұрын
The crash is coming. Market is unsustainable.
@lasvegasliving9237 5 күн бұрын
We'll see how it plays out.🤷♂
@kinky_Z 5 күн бұрын
I would feel comfortable at $291,000/yr.
@kinky_Z 5 күн бұрын
We're in the 2nd Great Depression - not a "recession".
@rictech. 5 күн бұрын
I would rather? Go to high desert in AZ ? By a few acres, build my little tiny home off grid, have peace and quiet and no third world country people around me .. be prepared
@lasvegasliving9237 5 күн бұрын
Everyone is free to choose where and how they want to live their lives.
@nevanrushing3608 5 күн бұрын
This guy does nothing but complain, offers no tips for managing this market or how to advance. He’s a sales person that wants the market to align-thus he doesn’t have to try There are many more positive people to deal with! He’s certainly not someone I would take economic advice from!
@lasvegasliving9237 5 күн бұрын
Sorry you feel that way. Thanks for watching and commenting anyway.
@nevanrushing3608 5 күн бұрын
That’s really all you care about-correct??? Getting views and getting paid-I never watch past your upfront comments! These days all people care about is ‘hate and fear’-you’ve got a grip on the fear aspect!
@lasvegasliving9237 5 күн бұрын
@@nevanrushing3608 My intention, regardless if you think it's clickbait, is to inform my audience on a weekly basis what is going on regarding the madness of the economy, prices and home values. I back it up with real yet shocking data/news that most everyone in the comments agrees with except for a few people. I can't please everyone nor will I try.
@stevekoch4 5 күн бұрын
Quick question....? Ggl says Las Vegas has 265+ sunny days per year. Aerial footage (great video btw)...shows 1 home out of ten has solar panels. Why arent more installed with solar?
@lasvegasliving9237 5 күн бұрын
Good question. It's becoming more popular but likely due to ultimate costs, infrastructure, etc.
@KeepitReal2772 5 күн бұрын
PEOPLE ARE SO CLUELESS 🤦🏽 Facts💯 are we've literally been in a "Recession" since last year and now we are sliding into a "Depression". WAKE UP PEOPLE🤨 The dollar has lost 98% of its value and is about to lose its "World Reserve Currency Status" moving forward. Get ready for a complete and utter collapse‼️
@lasvegasliving9237 5 күн бұрын
We are not sliding into a depression and utter collapse is not likely on the horizon.
@KeepitReal2772 5 күн бұрын
@@lasvegasliving9237 You seem like a nice intelligent man and I appreciate you responding but your response doesn't discount the facts in my statement and is much like what you are complaining about the media doing. Just simply ignoring the facts of the matter and saying it's not going to happen doesn't make all the facts go away. If you pride yourself on trying to educate people on the facts that's going on you may want do your research into my statements and you will easily see for yourself there is nothing I'm saying that isn't true. Saudi Arabia will is joining China and Russia to completely block out the dollar along with many other nations. Which will lead to inflation continuing to soar high and the feds happening to keep interest rates high. This will lead to more bank collapses which will completely bring down what's left of the economy. And you're sitting here saying there's not going to be a collapse🤦🏽. You are really doing all of your viewers a injustice. When these things happen and you see how wrong you are. Reply back to my comment and I'll tell you the future of what will continue to happen that you obviously are blind too.
@lasvegasliving9237 5 күн бұрын
@@KeepitReal2772 You sound like a nice person as well minus the personal attack because of a difference of opinion. Nobody has a crystal ball. Do I think we could see a recession? Yes. Do I think the end of the world is coming? No. People love to think that will happen but there are preventative measures in place that will prevent that. I don't disagree with you regarding inflation continuing to be problematic but the economy is not going to fully collapse.
@rollokline4692 5 күн бұрын
Las vegas is totally fucked up 😅😅😮😮😮😮😢😢😢😢😅😊😂run,run run away there will be no food and water 😮😮😮😮😮😅😮
@rollokline4692 5 күн бұрын
No,sale for gold and silver 😅😅😅
@lasvegasliving9237 5 күн бұрын
Thanks for watching.
@clipartinc 5 күн бұрын
This video is 10000% correct. We are seeing unrealistic inflation due to greed and government policies!!! It's 100% unsustainable because we have tripled interest rates and doubled the cost of homes in less then three years.