Real Estate Market worse than 2008
Real Estate Market worse than 2008?
Homebuyers are buying houses they can’t afford in 2023, a situation that will likely cause foreclosures to surge in the coming years.
With Fannie Mae reporting that the debt-to-income ratio in the Housing Market has hit an all-time high.
Real Estate Market worse than 2008?
Homebuyers today are spending nearly 40% of their income on interest costs. Even higher than the peak of the bubble before the 2008 crash. Suggesting that this Real Estate Market will have plenty of mortgage defaults and foreclosures ahead. Some homebuyers are even taking out 1% mortgages from companies like Zillow, an eerily reminiscent trend to the mid-2000s.
Especially in a state like California, where buyers are having to spend $10,000/month on mortgage interest, taxes, and insurance. In some of the neighborhoods around Los Angeles home prices could decline by 20-30% given current levels of overvaluation. A situation that is getting even worse now that Mortgage Rates have surged close to 7.5%. This higher mortgage rates mean the affordability levels are near the worst of all-time and are contributing ton the sky-high debt to income ratios, which increase the risk of mortgage default and foreclosure.
The intricacies of the commercial real estate market are often underestimated. As we’ve seen in places like San Francisco, there are already signs of strain. The looming challenges in refinancing and the increased cost of debt, especially when juxtaposed with the banks’ demands for additional equity, paint a concerning picture. It’s crucial to understand that these dynamics are not isolated; they’re intertwined with broader economic factors. For instance, the role of oil as a driving force in economic growth cannot be understated. It’s not just about the immediate implications on the housing market, but the ripple effects it has on the global economy. The interplay between commercial real estate, oil prices, and broader economic indicators offers a comprehensive view of where we might be headed. It’s essential for investors, policymakers, and the general public to be well-informed and prepared for potential shifts in the market landscape.
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Just like most major businesses, the easiest way, and the fastest way to expand your business and influence in your particular market is through strategic acquisition. Just look at Google, they are the number one search engine in the world! Google bought Youtube in November 2006 for US$1.65 billion! YouTube now operates as one of Google’s subsidiaries.
www.brokerforyou.com is for sale and is offered with a very popular San Diego residential real estate channel with 1.16K subscribers and 114 videos!!
What’s the approximately monthly cost to host a website? With shared hosting, you’re hosting fee can break down to about 10 to $15 per month. To keep your url registered (that’s your site address), this is usually paid on a five to 10-year basis, which averages out to about just a dollar per month! Naturally, if you add direct hook-up to a MLS database, that provides lead capturing, this costs can vary greatly from provider-to-provider.
- Also available, much smaller aged websites (not just urls) for Real Estate agents and brokers in California. Yes, since I’m retired from Real Estate now I have a number of websites that are available that you can use for readings to your main site. The following real estate area sites are available but subject to prior sale, without notice: San Diego, downtown San Diego, Del Mar, Encinitas, Orange County, and Los Angeles. If you’d like to purchase any of these sites with all the content included, you can get them at a Bargain Basement price. Please contact me if you’d like further details.
- Interested, call Bob Schwartz (619) 286-5604 for additional information
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DISCLAIMER:
Some of the links in this description and in our videos may be affiliate links, and pay a small commission if you use them, but never increase the basic cost. I really appreciate the support. The content in my Youtube videos SHALL NOT be construed as tax, legal, insurance, construction, engineering, health & safety, electrical, financial advice, or other & may be outdated or inaccurate; it is your responsibility to verify all information. I am a not financial adviser. I only express my opinions based on my experiences. Your experience may be quite different. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. You must conduct your own research. There is NO guarantee of gains or losses on any investments. My produced videos are for entertainment purposes ONLY. DO NOT make buying or selling decisions based on these videos. If you need advice, please contact a qualified CPA, attorney, insurance agent, contractor/electrician/engineer, financial advisor, or the appropriate professional for the subject you would like help with.
- Although no longer a licensed California real estate broker Bob’s 30 plus years of experience in the real estate industry with all the contacts that he has developed, he is able to provide referrals to the top real estate Professionals in any state within the United States. So, although you can’t get Bob to represent you personally, Bob can select a top real estate professional with years and years of experience to ensure that you get the best possible representation.
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