Watch This Video Again In 5 Years!

[Music] brought to you by the every dollar app start budgeting for free today the interest rates started going up and the market started slowing down dramatically uh about 15 or 18 months ago and we did a live stream where I very emphatically said the real estate market is not going to crash values are not going to tank and here's how I know that and I went through several data points on the air and we had several hundred thousand of you watch that live stream and we covered some of that on the air here to let you know that the real estate market values were not going to tank because a whole bunch of people were really upset that interest rates had gone up they felt that they that the system had cheated them and they were not going to be able to buy a home they were frozen out of the Home Market and they would sit on the sidelines and wait on the real estate market to crash and go down in value and I explain to you why was not going to go down in value and it was a very simple proposition except I went into great detail I'm not going to do right now but basically it works like this when there is a shortage of an item it's called Supply demand curve in economics if you had a decent economics class in the seventh grade you learned this okay the supply demand curve works like this when there is an over supply of an item versus the demand more more if you got a glut in the market if the if you can get them anywhere easily there's not a shortage prices go down when there's a shortage of an item or a service in the market a scarcity prices versus demand prices go up that's basic economics okay so items that are scarce go up more often than not items that are easily available readily available widely available there's to many of them produced go down in value does that make sense everybody kind of knows that that's kind of common sense if you think about it so here's the deal the there is less inventory of homes for sale versus the number of buyers today than there has been in 25 years there's a shortage of housing versus the demand zero chance prices are going to go down on houses during that time I said that 18 months ago told everybody that Dave that that video is not going to age well after the crash you're going to have to come back and tell people you were wrong well instead I'm here going na na na na N I freaking know what I'm talking about okay there's a difference all right I know a little about that stuff I've got a degree in real estate I've been buying real estate since before any of you were born so hardly any of you so spring is upon us it's predicted to be another busy time for Real Estate this is some stuff we just picked up out of the press average interest rates for 15year fixed rate mortgages are at 6 16% right now down from seven and some change just a few weeks ago so interest rates are trending down total housing inventory at the end of January was up 2% and up 3% from a year ago unsold inventory still sits at a 3mon supply and there is a tremendous number of new listings coming so we're starting to see some Supply come back into the market that's what we're seeing but we're also seeing buyers come back into the market that were sidelined waiting on interest rates to go down or waiting on the crash and for people who don't believe that I bid on a house uh a week and a half ago two weeks ago and I got out bid by four different buyers that's there's a lot of multiple contracts are coming back that's what the National Association of Realtors is reporting this okay low inventory has driven the median home price up to an all-time high prices went up they didn't crash you were wrong they went up to an all-time high of 379,000 that's the median home priced America in February homes went from being listed to going under contract in 17 days um and they were at 27 days so they're selling faster the market is heating back up and uh this light move an interest rate down the grass getting green in some of the markets we're seeing the real estate market heat back back up we're seeing multiple offers in big markets like Nashville again and um let me tell you I got my real estate license in 1978 the number of years during that between 1978 and now that you put a home on the market and you got multiple offers was it's been a very rare time but prior to 2020 we were seeing some of it and then of course after Fouch pandemic we saw people go crazy and they came out of their homes they were quarantined and came out looking for new houses like a Baptist looking for a casserole they were everywhere man they were running around like crazy and and drove prices ridiculously up in 20 and uh out of control I mean like TW like 89 offers on a weekend that kind of stuff all right that y'all remember that that's just a 20 that's just like two two and a half years ago okay um and then it chilled it just stopped and the market has gone has continued to move but it's very slow the volume has been very slow but still demand has exceeded Supply and we've seen prices go up and now that the Market's heating back up a little bit now we've yet again got even more demand than Supply and we're seeing multiple offers again so if you are thinking about selling a house this is an excellent time to sell a house as a guy who's trying to buy one please sell your house if you're thinking about buying a house today you're out of debt you have your down payment you're ready to go and the only thing you're waiting on is you're waiting on the real estate prices to come down or the interest rates to come down don't wait go buy a house right now if you're ready because the prices aren't going to come down and if the interest rates come down you can just refinance so you marry the house you date the rate that's how that works rate is temporary the house is dead G so here's the thing median house price alltime high in history right now interesting and you thought 2020 was crazy and you thought 2021 was crazy all right I'm telling you I'm not predicting it to go nuts again but the idea that some of you are still sitting around waiting on this Market to correct is hilariously stupid you're that wrong and and David it's not going to age well hey I've aged pretty well in general there's a couple things I've missed it on but I I pretty much call it on a lot of these things I told you Bitcoin was a scam I told you from the start even when all of you people that joined Bitcoin like some people join Mary Kay y'all were driving me nuts yelling and screaming at me like like I insulted your Jesus or something is crazy and it was a dadgum scam and we knew it was a scam from the we know was a horrible idea and yet you walked around acting like you're sophisticated and Dave rims you just doesn't understand let me tell you guys this is what's happening with real estate I promise you you can look up this particular YouTube five years from now and you're going to go yeah that old fart was right again that's what you're going to do it's exactly what you're going to do so prices are going to go up rates are going to go up and down up and down up and down they always have and they always will the only rate that that you cannot adjust is mine my interest rate on my mortgage is zero because I don't have a mortgage that's the only one you can control so get the house get the house paid off go to ramsy solutions.com get you a Ramsey trusted agent to buy a house or to sell a house right now and quit believing all this fear-mongering bull crap that's out there it's listen the market is slow but demand still exceeds Supply and it is still driven us to an alltime High median price on house those are facts that's called Data if you don't agree with that you're what's known as wrong seriously so if you're going to buy a house or sell a house best times right now I told you that same thing 18 months ago and I was right then too create your free every dooll budget today the simplest way to budget for your 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