Real estate rents falling

New York Real Estate has had it’s fair share of challenges thanks to the eviction moratorium, forbearances, rents decreasing, rent delinquencies and new property regulations.

Real estate rents falling

We will see a big decrease in real estate values and we will see real estate flippers and speculators run when these new bills become more widely known. This will force property owners, investors and landlords to spend a fortune on their buildings to keep them up to compliance otherwise they can face fines in the millions of dollars per building!

These real estate changes are devastating and we will see property values fall like we have never seen before in history.

Mortgage purchase apps have plummeted by 30% over the last six months. Put simply: the Housing Crash is here. Americans are on buyer’s strike and boycotting the sky-high prices of the current US Housing Market. The Federal Housing and Finance Agency (FHFA) – the agency that runs Fannie Mae and Freddie Mac – conducts a monthly survey of Americans regarding their feelings about the Housing Market. The June 2021 survey resulted in a record 64% of Americans thinking it’s a BAD time to a buy a home. That’s 2x more than the 32% who thought it was a GOOD time to buy. This means that US buyer sentiment has NEVER been this negative in the history of the FHFA NHS Survey.

Also, a record 77% of Americans now think it’s a GOOD time to SELL a home. This is a big rebound from the depressed levels of seller confidence during the pandemic, when homeowners were scared to list their home for sale. The result of a buyers on boycott and seller’s looking to sell is 1) a big decline in mortgage purchase applications and 2) a recent surge in inventory. The decline in mortgage purchase apps, data reported from the Mortgage Banker’s Association, confirms the buyer’s strike. Meanwhile, the increase in new listings reflects the stronger seller confidence. And it’s likely the inventory surge is just beginning. Home buyers and real estate investors who are looking to make a more educated decision about when and where to buy should arm themselves with data.

Get ready for the real estate collapse.

Keep in mind, market crashes happen every 10 – 15 years. Look it up it’s like clockwork… Housing is not affordable, we are short millions of affordable homes and young people are not joining the trades.. the crash will come. The question is when it does come will it be a “V” recovery or 2007 / 2008 crash again?

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