The Next Housing Market Crash (Worse Than 2008)

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Redfin just reported that “the median U.S. home sale price fell 3.3% in March, to $400,528” – which, was the largest year-over-year drop since 2012.

This is just the AVERAGE throughout the entire country, which means – other areas are seeing SUBSTANTIALLY WORSE declines – for instance, Boise Idaho has fallen 15.4% from a year ago with 78.8% fewer pending home sales, Austin, Texas is down 13.7%, Sacramento is down 11.9%, San Jose is down 10.5%, and, Oakland is down 9.7%.

A new rule was announced that would “force homebuyers with good credit scores to pay higher mortgage rates and fees to subsidize those with riskier credit ratings who are also buying houses.” Although, in order to understand what’s going on, you first need to familiarize yourself with a term called “Loan Level Price Adjustments.”

These were introduced 15 years ago, after the mortgage crisis, to compensate for risks associated with lending money. In January of this year, NEW changes were put in place in an effort to level the playing field between those with GOOD CREDIT and those with BAD CREDIT – and, starting May 1st, the biggest discounts will be given to those with BAD CREDIT.

Here is the BEFORE / AFTER:

The largest changes really come from those with good, but not GREAT credit, in between 700 and 780 – and, this heat map really shows who’s paying the most:

Keep in mind, those with BAD CREDIT still pay more in fees than someone with good credit – but, people with good credit now get less benefit than they did before, while those with bad credit no longer don’t need to pay as much.

The United States is quickly running out of money, at – at current estimates – this could happen as early as June 2023. In terms of what could happen, JP Morgan believes that “they expect the debt ceiling to become an issue as early as May, and that the debate over both the ceiling and the federal funding bill would run “dangerously close” to final deadlines.”

As the New York Times pointed out, “breaching the debt limit would lead to a first-ever default for the United States, creating financial chaos in the global economy. It would also force American officials to choose between continuing assistance like Social Security checks….and paying interest on the country’s debt.”

Let me know what you think about this in the comment sections – or, if you’re actually reading this (I have no idea who actually makes it this far down), feel free to comment ‘LOBSTER.’ It’ll be totally random and no one will have any clue what you’re talking about – but, it’ll be our little secret. Thanks!

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  1. I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

  2. the shutdown was the first HUGE mistake then the Feds finished the killing of the economy. housing and car market will be destroyed. years before we setback but inflation as they call it is here to stay. higher interest rates compound the problem.

  3. This guy is a click bait queen… how can you have a housing crisis when demand far outstrips supply?

    The developers are literally limiting supply to artificially increase pricing.

  4. I don’t think it’s a a bad idea to make it less favored towards good credit in order to afford a place to live. We are a society, we all agree to live and work together for a greater good. Our tax system is already set up like this. The people with more money have more perks than ones with less; however, the rich also pay a larger percent that goes towards public funds aka taxes.

  5. Housing market's not gonna crash. Too many people bought or refinanced when rates were historically low (2-3%). No-one is selling creating a housing shortage and increasing prices. Only investors and the wealthy can buy now. (TBH, I didn't watch the video.)

  6. wow man you're debt ceiling summary is one of the most disingenuous things I've heard you say, and you're wrong frequently enough but that was bad. You didn't mention that Republicans want a (another) massive tax cut for the super rich and then after that they want to cut spending on veteran services, law enforcement, SS and other essential services millions of Americans need. That was so misleading i think I just watched you participate in straight propaganda.

  7. I am so glad I as able to get a cheap mortgage of $711 a month. Rent around me is $1,200 and up. I don't know how people not making at least $20 an hour can make it and $20 would just be hardly making it.

  8. I mean, wouldn’t the US defaulting on loans lower our credit score making us pay less fees? 😂😂

    “If the stats don’t line up, find new stats to measure” -The United States

  9. Yeah… ppl with good credit are not "balancing out" people with bad credit. Ppl with Bad credit honestly pay 10 to 20 times more – who do you think has been paying for you ZERO interest, 0 APY rates for all these decades. I don't celebrate bad credit, have been there before and bounced back but just saying
    Just to be fair. let's stop looking for a scapegoat here. Banks are the one to blame overall and of course maybe some level of foreclosure and those ppl. but bc you don't want those ppl in better jobs, no healthcare, having to choose between educational opportunities or paying for their housing car insurance and food- they are under water and now the sludge of that has backwashed onto your kitchen table.

  10. Home values continue to decline in my area, Deerfield, Massachusetts. My homes value has declined -18% since January. Can the government step in and stop home value decline? If not, my husband and I are going to walk away from our mortgage. We purchased in 2021.

  11. I am making a huge gamble .

    Selling home , in my area ( Permian Basin) prices are still increasing.

    Im building in Conroe ,TX. Where prices are dropping.

    Withdrew from retirement 401k .

    Sooooooo go big or go home .

  12. I’m 23 and I been talking about this to people n they always said I was Delusional. It doesn’t make happy that was right. It angers me. But we get put in jail for doing anything out the book but big banks over here unloading dog sht loans

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