“Can’t Sell My Home Explodes on Google Trends” discusses the current challenges in the U.S. real estate market. Key points include:
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Increasing Difficulty in Selling Homes: The video highlights a noticeable trend of homeowners struggling to sell their properties. This is evidenced by a surge in the search term “can’t sell my home” on Google Trends.
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Low Market Activity: There’s a decline in people putting their homes on the market, partly due to favorable 30-year fixed mortgage rates below 3%.
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Shrinking Pool of Buyers: The video notes a decrease in potential home buyers, attributed to inflation and high interest rates.
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Rising Popularity of Home Equity Lines of Credit (HELOCs): As financial pressures increase, more homeowners are seeking HELOCs, as shown by Google Trends data.
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Advice for Positioning in Real Estate Market: The speaker suggests strategies for gaining real estate wealth, emphasizing opportunities for renters and those feeling financially constrained.
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Income Requirements for Home Buying: There’s a significant increase in the income required to buy a median-priced home – from $50,000 a year in 2020 to over $100,000 now.
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Difficulty in Accessing HELOCs: Many recent home buyers don’t have sufficient equity to qualify for HELOCs.
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Trend of Paying Mortgages with Credit Cards: An increase in people searching for ways to pay mortgages via credit cards indicates financial stress.
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Banks’ Response: Financial institutions like Wells Fargo are suspending new applications for HELOCs due to market conditions.
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Challenges for Recent Home Buyers: A significant percentage of recent home buyers struggle with mortgage payments, especially those with adjustable-rate mortgages.
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Housing Inventory and Price Trends: There’s an increase in housing inventory and a decline in sales, along with a drop in median sales prices.
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Recommendations for First-Time Buyers: The video advises against buying single-family homes as a first purchase. Instead, it suggests investing in multi-unit properties like duplexes, triplexes, or fourplexes.
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Market Prediction and Investment Strategy: The speaker predicts further market downturns and advises on investment strategies, focusing on value-add properties.
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Institutional Investors’ Role: Large investors are expected to capitalize on rent-controlled properties, potentially displacing tenants for higher rents.
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Opportunity in Multi-Unit Properties: Emphasizing the potential of multi-unit properties as a first investment, the video suggests that these can offer a path to living rent-free and saving money.
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Credit Repair Services Promotion: The speaker promotes his company, greatcreditfast.com, offering services to help viewers improve their credit scores and position themselves better in the real estate market.