Housing Market Crash | Buy A Home Now or Wait?

Housing Market Crash | Buy A Home Now or Wait?
Buying Real Estate



Housing Market Crash | Buy A Home Now or Wait? This is the age old question in regards to the housing market, should I buy a home now or wait? And we are going to be taking this question on from two perspectives, one being from a residential home buyer and the other being that of a real estate investor looking to profit. So in this video, we are going to breakdown exactly when we believe you should be looking to buy a home whether it’s for your own personal residence or for an investment!

0:00 Intro
0:49 Buying a home for residential purposes
6:15 Buying properties as an investor
9:18 Closing Thoughts

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Now to address the people who are looking to buy a home for the first time or the people who may have sold their homes and looking to buy when the market calms down, the first part of this video is for you. Now with the housing market 2021 we could see a potential crash in the coming months BUT right now is not the best time to buy a home. Now home prices are at record highs and we should see some kind of correction here in the next few months/years should we suggest to not buy BEFORE the housing market crash. So that might mean you need to wait 9 months to a year to buy but the real estate market should stabilize by then and you will be able to see more normalized prices of homes.

There are major things to consider for the 2021 housing market that have no sign of cooling off anytime soon; cost of construction, cost of lumber, and homes now as compared to last year, are selling off 32 days faster, year over year. So you’ll be looking at paying 20%-30% more in asking price as compared to a year from now when the market cools down. So it really boils down to patience and if you absolutely NEED to move or not. Can you stay at your current residence for another year? Some things to think about.

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—DISCLAIMER— The suggestions, advice, and/or opinions that are given by Sam Kwak (The Kwak Brothers) are simply opinions. There are no guarantees of set outcomes. Listeners, guests, and attendees are advised to always consult with attorneys, accountants, and other licensed professionals when doing a real estate investment transaction. Listeners, guests, and attendees are to hold Sam Kwak, Novo Elite, Inc. and the Kwak Brothers brand harmless from any liabilities and claims. Not all deals will guarantee any profit or benefits. Listeners, guests, and attendees are to view and listen to all materials and contents furnished by the Kwak Brothers as a perspective based upon experience.

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17 Comments

  1. I buy things when they're cheap and sell when they're expensive. I don't time. I see money in a corner and I go pick it up. A lot of headwinds coming in next 6mo, better to continue investing in what's cheap

  2. The market has actually been “cooling off” slightly the last couple of weeks. Inventory is up and demand (purchase applications) is slightly down. Let’s see if the trend continues.

  3. Yes! I went to AZ in April to buy a home and I was so frustrated trying to play the bidding war game. How does someone even try to compete with this insane market?? I offered $20-$25k over asking and my offer was not even considered. Wow….
    all I wanted to do was find a house to live and work from. The competition was so fierce. Any wisdom or suggestions from you guys would be greatly appreciated. Thanks!

  4. Interest rates will be low till 2023. Mortgage lending standards are tight as ever. I don't see any housing crash on the horizon.

  5. Mortgage forbearance and eviction moratoriums are ending, we will see a flood of inventory soon. The earthquake hit a long time ago and the tsunami is coming. Breaking bad part 2, now playing at a theater near you.

  6. Kwak Brothers , appreciate your videos ! Yes ! Make a video on how to win a bidding wars. I just lost a contract that had 14 offers, asking price was $475,000 and I was the second one with $51000 over the asking price . The area I am looking to purchase for my primary single home is in Ellicott City, 21042 Maryland in a good school district. Prices are super competitive here, always have bidding wars even prior to covid ! I don’t see prices will go down in the future, best case scenario I can imagine will be prices will remain the same and won’t go up . I don’t see it will go down like 2008. What’s your thought to buy now or wait till next year for a competitive area like Ellicott City, MD ?

  7. Great context.everyone needs more than there salary to be financially stable.the best thing to do with your money is to invest it rightly.because money left for saving always end up used with no returns. I started Investing in bitcoin mid November 2020 with the help of a well-known-proffessional Mr Edward Jones and the profit entirely funded my recent duplex.

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