Published: 2024-11-26
Status:
Available
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Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
It is predicted that the next 5 years will be the best time to be a home buyer.
"now might be the best time to be a home buyer in 5 years"
Pending
Housing inventory in October 2024 surpassed January 2020 levels, indicating a significant increase in homes available for sale.
"back in January 2020 before the pandemic there were 900 151,000 homes available for sale and then fast forward to October 2024 for the first time we had more than that with 9 153,000 homes for sale"
Pending
There is a question about whether price cuts are imminent in the housing market.
"are we about to see price Cuts coming in the housing market"
Pending
The housing market currently has approximately 4.3 months of inventory, marking the longest period of over four months of supply in five years.
"there's roughly 4.3 months of inventory on the market according to the latest data from the National Association of Realtors and the reason why that matters is because this is the longest stint of four plus months of Supply in 5 years"
Pending
In October, homes spent an average of 58 days on the market, representing the slowest October since 2019.
"homes spending 58 days on the market on October the slowest October since 2019"
Pending
18.6% of homes have had their prices reduced.
"the percentage of homes with price reductions was 18.6%"
Pending
The proportion of homes with price reductions is 2.2% higher compared to the period between October 2017 and October 2019.
"the overall share of inventory with price Cuts is 2.2% higher than the Shar seen between October 2017 and October 2019"
Pending
Housing prices have increased by 50% to 65% between 2019 and the present.
"between 2019 and today we've seen housing prices rise by 50 to 65%"
Pending
If housing supply exceeds demand, prices are predicted to decrease as sellers outpace buyers.
"if we have more Supply than demand we have home sellers that are outpacing home buyers they'll pull home prices lower"
Pending
If housing demand exceeds supply, prices are predicted to increase as buyers outpace sellers.
"if we have more demand than Supply more buyers than sellers they'll push home prices higher"
Pending
Donald Trump's agenda includes making housing more affordable.
"Trump who's going to be entering office in January who has made it part of his agenda to try to correct the housing market more specifically make housing a little bit more affordable"
Pending
A potential strategy to increase housing supply involves making more federal land available for sale for housing construction.
"one of the ways that he wants to do that is by increasing the amount of federal land available for sale to build housing on so if that goes into effect that could potentially increase supply"
Pending
The speaker advises treating a purchased home as a liability rather than an asset.
"if you're buying a house I want you to treat your house like a liability not like an asset"
Pending
It is crucial to ensure one can afford a house before purchasing it.
"just make sure you can afford it"
Pending
A minimum of 20% down payment is recommended when buying a house.
"the down payment I want to have at least 20% to put down cash"
Pending
A personal budgeting rule suggests that a maximum of 75% of earnings should be spent on living expenses, including mortgage payments.
"751 1510 for every dollar that I earn 75 cents is the maximum that I can spend"
Pending
Affordability for homeownership should include moving costs, potential upgrades (kitchen, bathroom, basement), and furniture purchases.
"I want to afford the moving costs that means paying to move in paying for the movers that means paying for any upgrades if you're going to upgrade the kitchen the bathroom finish the basements and if you're going to be buying furniture"
Pending
For a 30-year fixed-rate mortgage, the majority of payments in the first 14 years and 8 months go towards interest for the bank.
"if you're getting a 30-year fixed rate mortgage the first 14 years and 8 months of your mortgage the majority of your monthly payment are going directly into your Banker's pocket with interest"
Pending
Paying off a home is presented as a bonus, not the primary driver of wealth accumulation.
"it's not because they paid off their home that is the added bonus"
Pending
The IRS has announced new tax brackets for the year 2025.
"the IRS just released their new tax brackets for 2025"
Pending