Construction defects refer to deficiencies in the construction process, such as design, materials, or workmanship. Corrective measures provide direct personal protection for workers, building users, and third parties. A tool called CAPA can revolutionize planning, monitoring, and implementing mitigation measures efficiently.
Critic Actions (CAA) focus on identifying and resolving existing issues, often triggered by customer complaints or audit results. By implementing effective corrective measures, the recurrence of issues can be prevented, keeping the project on track and preventing financial losses and poor performance indicators.
Renovation Quality Control is a vital aspect of any construction project, ensuring that the final outcome meets or exceeds industry standards. It involves a comprehensive evaluation and monitoring of the building process to identify and rectify potential flaws or deficiencies.
Central and local governments worldwide are translating carbon reduction goals into policies and action plans for retrofitting existing buildings. It is imperative for construction companies to prioritize proactive safety management and implement effective corrective measures to mitigate risks, prevent accidents, and promote a culture of safety.
To optimize remodeling project management from start to finish, consider visualizing each project with a digital floor plan app and considering common steps such as planning and design, demolition, rebuilding/framing, mechanicals/plumbing/hvac/electrical, walls, and flooring.
Proactive measures to prevent building defects and ensure a successful outcome include modern building codes and structural engineering safeguards, including building assessments, monitoring, and capital upgrades.
📹 Expert warns US is ‘entering greatest real estate correction’ in his lifetime
Private equity fund manager Grant Cardone joined ‘FOX & Friends’ to discuss current struggles with the housing market and the …
What is the meaning of corrective measures?
Corrective measures are actions taken to address a perceived abnormality or undesirable situation, aiming to prevent its recurrence. These measures can include complaints, errors, adjustments to production processes, or even product destruction. Preventive measures, on the other hand, aim to eliminate potential future abnormalities or undesirable situations. Both corrective and preventive measures are crucial in maintaining a safe and efficient work environment.
What is the first fix of a renovation?
The ‘First Fix’ is the initial phase of construction, involving foundation laying and plaster application. A design-led architect studio with over 30 years of experience focuses on integrating sustainable practices into every building they create. Low energy consumption and low embodied carbon are principles that guide their designs. The construction process is simplified by terms like ‘First Fix’ and ‘Second Fix’, which may seem abstract to those unfamiliar with the process. These terms are essential in modern UK construction, as they guide the design process and ensure the quality of the final product.
How to minimise renovation costs?
Home renovation costs can quickly add up if not properly managed. To cut costs, consider doing your own demolition work, having a budget, avoiding debt, developing a detailed plan, getting permits, reusing materials, picking up materials yourself, and doing your own painting. These creative money-saving ideas will still provide a great remodel at a fraction of the price.
One way to cut costs is to do your own demolition work, which can save you on labor costs compared to hiring a contractor. However, ensure to do so safely and wear proper protection. Comparing quotes from trusted local professionals can help you find the best option for your home renovation project.
What are examples of corrective measures?
A corrective action plan is a document used in quality management to address issues and gaps in business operations and processes that could negatively impact the business. It should be Specific, Measurable, Attainable, Relevant, Timebound (S. M. A. R. T.) and includes timeframes, costs, and signatories. A weak corrective action plan depends on current workplace processes and employee training, as per the Department of Veterans Affairs National Center for Patient Safety’s root cause analysis. Examples of corrective actions include providing equipment upgrades, implementing safety training, conducting regular audits, updating work processes, and revisiting safety protocols and guidelines.
What is the first step in the remodeling process?
The planning and design phase of a remodel involves setting a budget, collaborating with a designer and builder to communicate your vision, securing permits, and other pre-planning steps. A clear financial plan is crucial to ensure the remodel stays on track and within your means. Collaboration with the designer is essential to translate ideas into actionable plans, and securing permits early on can prevent delays. Your builder will also assess the impact of the remodel on your daily life and advise on temporary relocations for comfort and safety.
What is correct, remodeling or remodelling?
Remodeling and remodelling are English terms, with the former being predominantly used in American (US) English and the latter in British English. The usage levels of these terms vary by country, with preference for “remodeling” being higher in the United States (99 to 1), the United Kingdom (84 to 16), India (88 to 12), the Philippines (90 to 10), Canada (87 to 13), Australia (64 to 36), Liberia (no preference), Ireland (61 to 39), New Zealand (58 to 42), Jamaica (100 to 0), Trinidad and Tobago (100 to 0), and Guyana (no preference).
In the United States, there is a preference for “remodeling” over “remodeling”, while in the United Kingdom, India, the Philippines, Canada, Australia, Liberia, Ireland, New Zealand, Jamaica, Trinidad and Tobago, and Guyana, there is a preference for “remodeling”.
What is the Remodelling process?
The final phase of wound healing is remodeling, where granulation tissue matures into scar and tissue tensile strength increases. Acute wounds typically heal smoothly through four distinct phases: haemostasis, inflammation, proliferation, and remodelling. Chronic wounds, however, begin the healing process but have prolonged inflammatory, proliferative, or remodelling phases, leading to tissue fibrosis and non-healing ulcers.
The process is complex and involves specialized cells such as platelets, macrophages, fibroblasts, epithelial and endothelial cells, and is influenced by proteins and glycoproteins like cytokines, chemokines, growth factors, inhibitors, and their receptors.
Haemostasis occurs immediately following an injury, where platelets undergo activation, adhesion, and aggregation at the injury site. Platelets are activated when exposed to extravascular collagen, which they detect via specific integrin receptors. They release soluble mediators and adhesive glycoproteins, such as growth factors and cyclic AMP, which signal them to become sticky and aggregate. Key glycoproteins released from platelet alpha granules include fibrinogen, fibronectin, thrombospondin, and von Willebrand factor.
As platelet aggregation proceeds, clotting factors are released, resulting in the deposition of a fibrin clot at the injury site. The aggregated platelets become trapped in the fibrin web, providing the bulk of the clot. Their membranes provide a surface for inactive clotting enzyme proteases to be bound and accelerate the clotting cascade.
How to save money when remodeling?
This blog provides 10 tips to save money on a home renovation, focusing on budgeting, prioritizing renovations that add value, being your own contractor, doing as much of the work yourself, finding used renovation materials, waiting for big sales, not doing everything at once, and selling old materials to purchase new ones. Parkwest General Contractors does not handle home renovations, but the content offers valuable tips for anyone embarking on a DIY home improvement project.
A well-defined budget is crucial for any successful renovation project, as it guides decisions and prevents overspending. Focus on projects with high investment return, such as kitchen and bathroom upgrades, as these areas are often the focal points for potential buyers and can increase the home’s resale value. By following these tips, you can transform your living space without breaking the bank and achieve stunning results without breaking the bank.
What is the best way to approach a renovation?
This home renovation checklist outlines the steps to build a detailed plan, set a budget, hire contractors, decide which projects to tackle first, set a timeline, plan for problems, prepare for renovation, and plan ahead for cleanup. Materials are a significant cost for any remodel, and choosing high-end materials like Italian handmade tile can skyrocket your budget. To save money, opt for more common materials like bright-white subway tile.
Material costs for hardwood floors, tile floors, cabinets, countertops, and paint can vary greatly. To start the renovation, start 6 to 12 months before the start date. Remember to plan for problems and prepare for the renovation ahead of time.
📹 Signs of structural movement in brick walls after remodel
Possible corrective measures might include: Foundation Repair: Depending on the extent of the issue, foundation repair methods …
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Nice article I used to think every investor went broke during recessions, meanwhile some made millions. I also thought everybody went out of business during the Great Depression, but some went into business. Bottom line, there’s always depression for some and profit for others, it all starts from having the right mindset. That said, I’ve set asides part of my savings to invest for future. Unfortunately I’m a complete noob.
This is a really interesting take on the housing market. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
I realized that the secret to making a million is saving for a better investment. I always tell myself you don’t need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million
I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It’s important to be proactive in investing as cash may not be the most advantageous option during these times.
In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it’s less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65. how can a young man with 200K survive?
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I’ll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
In the early 1990s, when I bought my first home in Miami, first mortgages often came with rates of 8 to 9% and 9% to 10%, which was quite common. It’s important to consider that we may never return to 3% rates. If sellers are compelled to sell, home prices may need to decrease, leading to lower valuations. I believe many others share this line of thinking.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Great article, I have always wanted to invest and start my retirement plans early enough, but I never did. I hope it is not too late for me? I will like good advice on how I can start up my retirement and put up some investments as well. This world in getting more difficult to live in everyday. One needs to prepare for the future and kids inheritance.
Merry Christmas, As we approach the pivotal 2024 Bitcoin halving event, we stand at a crucial crossroads in the world of cryptocurrency. This significant occurrence promises to profoundly affect Bitcoin’s market value and ripple across the broad expanse of digital currencies. In this critical phase, the importance of strategic trading acumen and the diversification of investment portfolios cannot be overstated. In the midst of these shifting market dynamics,Amidst this, the insights of a knowledgeable guide like Tammy Brockman can be crucial. Her expertise in navigating the nuances of cryptocurrency investments could be the key to understanding and making the most of these emerging financial trends.
The eviction bans killed my rental real estate business. Once tenants figured out they didn’t have to pay rent, and there was nothing I could do about it, they just camped out. Then they trashed the places on the way out. The feds gave the states money to refund landlords for their losses but I got 1/3 of what I was owed after endless paperwork. The states then blew the “unspent” money on pet projects and corruption.
A home was never supposed to be a short term money making “investment” but a place to live long term and raise a family. The problem is that employment security has become non-existent and people can not be sure they will be in one place for long. Other life changing events that have recently happened have changed housing plans for many people, along with putting off marriage and a family.
I sold my three-bedroom home, with all the amenities, last January to my adult son that was still living in it. I gave him a great deal, and he got a great mortgage rate at 3%. Even the mortgage signer could not believe the rate, he asked if we had paid down the interest rate. We didn’t know you could do that. My son is a Marine veteran with PTSD, and owning his home has changed his life for the better. He had tried to purchase other homes in the area but kept getting outbid by ridiculous amounts over the asking price. His mortgage payment, with tax and home insurance included, is lower than the rent he was paying. He is one happy man. It is a win-win for us both; he got a great deal on a home, and didn’t even have to move, and I am out of debt.
I realized that the secret to making a million is saving for a better investment. I always tell myself you don’t need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a millions
The investment you choose isn’t right or wrong, just depends on the kind of business person you are or simply the kind of person you are. However, the end game is investing money long term creates wealth every time. Just pick what you like and understand, invest and it will pay off. A lifetime of investing for 5 mil is not hard to accrue.
This happened with the 2004 housing boom – home prices were greatly inflated, meaning people couldn’t sell later because they owed more on the house than they could sell for. I know quite a few people who bought then, thinking they were making a good investment to sell later, but it’s taken until the COVID housing boom for the prices to come back to those original amounts.
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As a new father who relocated to the Bay Area a couple of years ago, I’m considering buying a single-family home. However, with real estate prices currently skyrocketing, I’m unsure if it’s still a prudent decision to proceed with the purchase or if I should focus on investing in stocks for the time being and wait for a potential correction in the housing market. I’ve heard positive things about Nvidia and AMD as solid investment options.
In the 1950s, families could afford a home with just one income. Typically the husbands while the wife takes care of the kids. As house prices have slowly went up over the last 70 years, that culture has changed warranting two incomes to afford a home. Maybe the husband works full time and the wife works part time just to make ends meet. We are entering new territory since Covid and prices jumping up 20-30%. It now takes more money to buy a home then a husband and wife can afford both working full time jobs. In the next coming years, this will lead to less home buying and more renting. Unfortunately, this will be the new American dream. Being able to afford rent just to say they get to live in the good old U.S. of A.
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don’t know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
Recently bought some recommended stocks and now they are just penny stocks. There seems to be more negative portfolios in the last 3rd half of 2023 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Why is this hard. Cardone, buys apartment buildings to have people send him money to receive 5% approximately. He has been known to buy the apt complex with company A, sell it to so called investors at a higher price with company B. Where he manages, maintains, receives monthly percentage, then 20%-30% on the resale, whenever that is to share with original investors. So, no surprise he would be happier with apartment living he owns. Any rate reductions by the fed, has always meant home sales and higher prices. Simple
Hate to say it but he makes absolutely no sense. When the interest rates are not tied to the housing pricing. Remember when the interest rate on housing was 2.5% and suddenly the cost of housing went up nearly 20% in 2021. Need a better narrative or reason than the FED. How can we forget how the housing workforce was forced to go home because they were immigrants? How can we forget the ships were stuck in the ports in LA, etc to find out that most of the materials were from Asia (China)? None of this had anything to do with the FED – simply supply and demand. How can we forget the explosion of REIT’s the finance sector pushed and corporations jumped with both feet buying up loose houses.
living in a house that you own is very cheap compared to renting. if you make 2000 mortgage payment a month on a 250k house then you also earn 5% growth on 250k every year which is about 1k a month and you pay off small portion of loan from making the payments which will grow quickly after a while. The return on the closing costs investment would not negate the equity growth even if it was doing 15% anually. And all of these grow year after year.
Been hearing that a crash was coming for the last 10 years. Had you bought 10 years ago and not waited you would have earned the following: Mortgage Tax Write-Off, Paydown of the Principal Balance, and Home Appreciation (Big-Time). Even a heavy correction will not eat into the gains already earned. Same goes for the Stock Market, and I hate to say this, Bitcoin!
Builders need to start building 2 bedroom, 1 bath simple roof, decently built houses, which they have not done in the last 40 years or more. And still arent. Because the make moe money on the huge complicated houses on small lots they build today. But the bottom will fall out of those houses’ market. The badly designed, poorly constructed “tiny houses” are mostly a disgrace and will not last and not worth the money plus cant be built in many locations. Even mobile homes or modular homes are better built. But Americans are.spoiled into getting huge, actually unaffordable, horribly expensive to repair and keep up, complex houses.
I don’t know about other places, but the reason my city is stagnating is because big investment companies came in and started buying up real estate at prices most people couldn’t compete with. I’ve had numerous offers for my house well above the market price, and I know I’d be a fool to sell. I’d never be able to get another house without taking out a mortgage. Mortgages in your golden years aren’t as easy to manage…
Not just interest rates BUT The Tax assessments on existing home owners are another big issue I bought a home 5 years ago, have a 4.5 % fixed rate for $121,500 But the recent assessment values my property at $187,500 so……. they send me an additional Tax assessment bill for the difference They’re trying to force people out of they’re homes
This is THE problem. Guy literally is telling us what the issue is and we allow it. “Oh lets just have large banks, investment firms and shady corporations buy apartments and homes and jack the rents up for safety and quality of service!” LOL meanwhile average families can’t afford homes and if issues are brought up, the owner of the house just kicks tenants out.
Just paying the bills is a mess in this country! I just looked at an item in a grocery store that I paid 3 99 for last year, it was 7 19 yesterday! And it was smaller! That is just an example how bad it really is. How some one with three children is going to put groceries on the table and have a mortgage is impossible ! This administration stands there and tells us how much better of we are and are our country and way of life is disappearing!
Yes but mortgages go into the equity and advantage of the owner … Renting forever is same as leasing a car and never ever owning a car for yourself. If people pay $15K – $20K per year or more in rent – they are better off putting that into a mortgage to benefit them not a stranger’s pocket renting to them
45% of real estate agents can’t pay their office rent? How about can’t pay their car note, insurance, groceries, phone bill, etc! I’ve never struggled like this before after being a top selling real estate agent in Dallas for 10 years. This past year has been nearly impossible. I’m months behind on bills and I feel like I’m drowning. I wake up everyday and check to make sure my car hasn’t been towed. Having to work other jobs and they barely help. It’s a never ending struggle.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won’t ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I’m not alone in my chain of thoughts.
This happened in the 1970’s into the early 1980’s. Home prices quadrupled from 1972 to 1982 and mortgage interest rates were double digit. Rates came down eventually; however, the prices did not; they merely increased at a slower rate. The only way to stop this is to stop printing money (devaluation of the US dollar). Unfortunately, that will not happen because our debt has reached an unsustainable level and there is no political will to even delay the inevitable. I can only see a scenario in which we default on the debt and begin again.
I’ve been diligently working, saving and contributing towards financial freedom and early retirement, but the economy so far since the pandemic has eaten away most of my portfolio, what I want to know is this: Do I keep contributing to my portfolio in these unstable markets or do I look into alternative sectors.
The real issue is that there aren’t enough new homes coming onto the market to meet demand. This is through a combination of restrictive zoning practices and NIMBYs that only allow for the most expensive form of housing to be built (detached single family homes) and will block all proposals for denser forms of housing, such as duplexes, triplexes, townhouses, and even small 4 to 6 unit apartments that would address the housing crisis.
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
What about these investors who will be raising those rents and inflating the market on rentals? Then it will no longer be affordable to rent… look at other countries where the rents are 1700 for a small bedroom! I am not buying into the belief that it is smarter to rent unless you are pushing people to buy stocks that make more money, something I wouldn’t take bets on in this economy.
Many real estate agents made piles of money with their outrageous 6% commission during the past 10 golden years with house prices skyrocketing. Most of them didn’t save for the bad days, but instead, bought new expensive cars, and moved to a very luxurious home having a lavish lifestyle. I know I might get some people upset, but we desperately need Federal laws and regulations to reduce the outrageous 6% in real estate commission. The average commission in the UK is around 1.18%, which I think is fair, mainly in states where the average home price is over $500k.
What good does lowering interest rates do if almost half of those homes are purchased by private equity firms that do a shoddy remodel and sell that house for double, or triple, what they bought it for? We need more inventory and for private firms to stop messing with the housing market. I’m all for making a profit, but their business practices are predatory and need to be overseen by the SEC more strictly. PE firms are the housing equivalent of payday loans…
New homes sales in central Texas are down 39% since 2022. Yet DR Horton / Pulte still trying to sell 2000 sq ft homes for $450k. These builders are laying off field employees. And its all due to their greed. A few short years ago, a 2400 sq ft home in the central Texas area would see for $225k. Do not buy a new home today. Let these builders go under until they drop their prices 30%. Overpaying for a home is financial ruin.
This guy has no idea what he is talking about. He says “interest rates will have to come down for pricing to come down”. Falling interest rates will increase demand & drive prices up. Housing prices will not start to come down until there is an increase in supply which will not happen in either the short or medium term, due to excessive government regulation. Econ 101.
1960. The average salary was $6000 a year and Average price of a house was $12,000 so that’s about twice your yearly salary. In 2023 the average salary is $65,000 a year so The average price of a home in 2023 should be $130,000. Twice your yearly salary. So the average price of a home now is $420,000 So that’s 6 1/2 times your yearly salary in 2023 So your average salary in 2023 should be $210,000 So you see Home prices today are way over valued so people are really getting screwed. That’s not worth it it’s Just a box you go to sleep in.
Love Grant Cardone but I totally disagree. The Fed caused this, now they need to end it. The market has to crash for prices to come down. Let’s be honest, Grant is a RE investor, so of course he has a vested interest in lower rates and keeping the higher RE prices going. In addition, 7-8% mortgage rates are not really that high in the grand scheme of things. The problem isn’t the interest rates. It’s the sky high cost of housing.
Wha Wha Wha. No we are not in the market of 02-08 anymore. We are back to what was NORMAL before the Bush crash. The only big difference was noted by the host towards the end. The major ownership of single family homes made by hedge funds in the market buying up huge amounts of inventory. This is new. For the moment it is keeping the market firm. Otherwise rates at 7-8% are nothing. Bought my first home in 78 paid 9% for a first and thought I got a bargain. Have owned 6 homes over the years and made substantial returns on every one, besides have a great place to live. Paid as little as 3.5% to as much as 12% for a first. Didn’t matter. The likelihood of another Bush type housing crash is small considering the way lenders changed their requirements to lower their risk. And unless all the hedge funds bail the market will stay firm. If we would let in some more skilled and unskilled immigrants we could bring down labor costs and maybe some of the builders would build more new homes. Labor makes up as much as 25-50% of the cost to build. These guys provided the low cost labor that built out better than half our inventory over the last 50 years. Just saying.
The simple solution who sold the house in the past 2and 1/2 years after COIVD should pay 20% of tax from the house selling and give to the buyer. That will quick fix for the housing market and sellers will learn the hard lessons!! It’s a criminal the government should act quickly to normalize the house market some area still over priced I saw 1 house property history sold in 2015 487k 2017 sold 430k 2029 sold 517k in 2023 sold 815k most house in this area the same tragedy!! We can imagine the people who bought 815k going through UNBELIEVABLE it’s a criminal. The government should save the working families lives 🛑🛑🛑🛑🙅🏼♂️🙅🏼♂️🙅🏼♂️🙅🏼♂️
Ah, I don’t think he’s being forth coming. Unless if he’s talking cities specifically. Out in country areas rent is higher than some mortgages, like by a couple hundred dollars and then you have to pay utilities. But homes in general are astronomically high and it is due to inflation, otherwise real estate agencies wouldn’t have a job if it were because otherwise like overpricing.
I need this correction SOOOOOOOOOOOOO SOOOOOOOOOOO BAD!! Please bring prices back to 1990’s prices again so that I can afford a house! And give me back my $70k job that I had in the late 1990’s and then I’ll be just fine. When my place is paid in full soon, I’ll be living good. I want out of this rat race.
If average price has gone to 400k you got to be making a lot of money to pay this amount. This has happened everywhere, in other countries as well. In India property values have gone up from 20k to 100 k in about 10 years. Someplaces from 20 k to 200k I’m 10 years. USA has seen nothing comparatively.
Most of this generation is looking for executive homes but they don’t have executive jobs They want big homes with all the amenities you can think of. I don’t think this is call the American Dream😀 They don’t want an average home and an average car. Luxury is rampant with this generation, designer clothes, purses Starbucks every day, 3 or 4 times per week restaurants and Uber to go to work. What a wonderful life😀.
fed needs to set regulations on rent increases and local rates, as for the ownership it’s hard to buy a house when private firms are devouring them and scalping the prices. housing has become a monopoly much like diamonds, they aren’t rare at all and their value is completely f*cking arbitrary at this point.
Meanwhile in tribal and rural communities if someone comes of age and needs a house 🏠 for his wife and children, the village spends a day building one out of local materials, and he has a house, no money, no tax, free for life.. if they need food they grow more 🌽🥦 🫛🫘 go hunt a a few animals or 🐟.. God gave human beings everything necessary for life, for free, in the forest.
I’m a trader so I’d love to see the Fed cut rates; I’d make out like a bandit. That stated, it would create more problems than most people realize. You think the rich are rich now? They own all of the stocks. If the Fed cuts rates, stocks will go to the moon, making the gap between the rich and the middle class even wider. NOT cutting rates is about so much more than high mortgage interest rates. Since 2020, the top wealthiest people’s net worth has increased significantly. Not because sales or profits increased, but because their stock holdings grew in value. Imagine that happening again. Not hating on the wealthy at all, but if you think things are expensive now, you haven’t seen anything. Hope Powell does NOT cut rates any time soon.
WRONG: Its supply . 1) We are 4 to 7 million homes short. 2) Wall Street has purchased all starter homes. Americasns cant complete. The Fed needs to incentive home buliders of single family homes. Its to expensive its too complicated. Restrict Wall Street. You correct supply, prices will correct. If you think lowering the rates will increase supply your wrong. Existing homeowners will sale to.purchase a new home. If nrw homes are not available they will upgrade but not sale. If you lower rates, the competition will drive up prices. Since we do not have any real solution. We don’t have any real traction on supply we are in trouble. A real problem
Hey … I LOVE me some “GC” / Grant Cardone ! I think he is very genuine & honest and Spot-ON. MOST of the time. But i need to help him out on this one as far as the Seattle Residential Real Estate Market goes so far in ( 2024 ). As a Native of Seattle & whos family has been here since the ( 1800’s ). As well as a Real Estate Agent i can only speak about the current … on the ground perspective. The Seattle market is Roll’in ! Especially on the “Eastside”. aka … “The other side of the Lake” aka … “The NON-Mentally ill / NOT dominated by the Progressive Mental Disorder ( PMD ) side of Lake Washington. You know … where crime, drugs & general “Scumbaggery” are still Illegal. Sadly Seattle is still deeply infected with the Progressive Cult Virus which is going to take some serious intervention. Though … Even in Seattle it is quite Warm. I believe this is due to a combination of things. Though Most of this uptempoed market is undoubtedly due to the low Inventory. If the interest rates drop I have a feeling we’re going to be in a sizzling market quick
Its not the interest rate its the price of the house. Lowering interest rates will not change much. Rel estate investors are pooling there money they come in with cash deals over pay on four or five homes then the price in the neighborhood gets reset the investors get immediate equity valuation increases that they can now leverage. Meanwhile first time home buyers cant afford the down payment, the higher insurance, and the higher property tax. This is what the problem is. My neighborhood in Dayton Ohio has always been in the range of 95,000 to 110,000 over the past 28 years of owning my ranch home, the investors came in starting in 2022 offering 150,000 they scooped up and made rentals about 13 homes in my neighborhood, now since January my home went from appraisal of 113,000 to 210,000. The investors did all this knowing that county was going to re-access my neighborhood in Nov of 2023. Now taxes and insurance have gone crazy and more houses are being turned into rentals. Rent went from being 950 to 1100 two bedroom last January to 2100 today. Cost of selling home went from 9000 to selling for 21000. Cant afford to stay, cant afford to sell, and cant afford to rent in my neighborhood. Now that is what Biden meant when he said great reset. And is why so many young people are living with mom and dad or homeless with a job. You will own nothing and be happy what a joke, much worse than trickle down economics.
Renting for a while is not really that bad of an idea. You can always invest in a good insured CD. The returns at the moment (5/24) at 4-5% is OK. When the real estate markets adjusts, you can get your dream home. Remember real estate markets are localized. They are different in each state and/or neighborhood.
So, I’m shooting the breeze with a buddy, right? And I’m laying it out straight: I ain’t about to shackle myself to some 30-year contract that’s basically a life sentence to the bankers’ club. I mean, c’mon, let’s get real here. Most of us regular Joes end up owning squat because we’re too busy “financing” our rides (translation: paying through the nose to drive a car), handing over our life savings to the bank for a glorified cardboard box we call home (thanks, mortgage), and signing up for those absurdly overpriced phone plans (like, seriously, eighty bucks a month to chat on a gadget that costs more than my first car and will probably be half the price next year? No thanks, I’ll pass on that madness and stick with the Cardone method, cheers).
when interest rates go up, it slows inflation. Home prices come down. When the gov continues to spend money on war while interest rates are fixed at 5%, inflation continues to go up. Over the next 15 years, interest rates will go up because inflation will go up due to war spending. This 2020-2040 period is an emergency period according to Vedic astrology.
Most homeowners got a mortgage around 4 percent or lower. Even if they want to sell, they won’t because current interest rates so much higher. So until rates drop below 4 the market of houses for sale will remain low. There is plenty of pent up demand. Where I live many from the NE and CA have been relocating to. They really drove up prices. Now market has slowed ad buyers with cash can be picky. Buying and selling is timing which often is just luck. I sold in 2023 near top. My issue was looking for a property very specific. So I paid too much but got all the features I needed for half the price of what I sold. People can get better value moving 30 minutes outside midsize cities. Real estate fluctuates. This guy thinks 1800/mo is a good value. What is that value? 1800/ is a lot of money. 20,000 yearly just for roof over head. That renter would need to make a gross salary around 60,000-80,000. Many renters today near big blue cities are reporting nearly 50 percent of their salary going towards rent. 35 is common. Not sustainable.
This is odd. He lives in my county and tries to buy houses for nothing and rent them out. He has ppl calling me,texting,emailing me nonstop to try and buy my rental for nothing. lol. He doesn’t care about ppl buying homes. He’s trying to get them cheaper and he pissed everyone is hanging onto their houses. He wants loans too-he doesn’t want to use his cash because then he’ll be cash poor and get taxed like crazy. He pretends like it’s all big Corp but he’s just a smaller version of big corps & they are getting the houses before he can and he’s pissed. This is all about him not that he cares about you buying a home-he can’t afford how it’s going and he wants your house for peanuts and control rent prices in neighborhoods. He used to controlling house prices and rental prices in neighborhoods just like Blackrock,Vanguard,etc. See Blackrock will overpay for houses when they’re selling because it raise the value of the other 100 houses they own within a mile. All these guys are a huge reason why homes cost what they do. They control prices of homes and rentals and yet they don’t get attacked or blamed somehow. Boomers are getting blamed, lol. It’s not Boomers fault they are just selling and it ends there -it’s these guys making the prices that are screwing everyone. This is how everything goes right now to confuse you. Everything controls both sides to fool you-so example Israel-they control the Pro Israel and the Anti Israel, lol. Same people control both sides to create & control the narrative and then ppl fall for it.
Why feel sorry for these pirates? They’ve hardly lifted a finger for years while buyer demand made sales easy street. Agents are numbskulls, always stating the obvious. Never think they offer any financial advice….only sales hype on behalf of the seller. Agents control buyers through the burden of monopolistic multiple listings and overly complex paperwork. Ever had a call back from an agent if you paused while looking at a house in the past five years? Nope…they just take the next phone call. Lazy. Now they can’t pay office rent because they forgot how to sell and never had any other skill sets.
I’m waiting for the bubble to burst, worse than it did in 2008. Over the past four years, people have fled from blue states to where I live, and without the burdensome local and state taxes, have bought up everything in sight, driving up prices to unprecedented levels. Factor in inflation, high interest rates, and uncontrollable insurance rates, it’s just a matter of time before it all comes crashing down again. I’m playing the liquid long game. I’ll rent my paid off home to a responsible pensioner, and move abroad.
Sickening what they’ve done to the supply of homes….every component of a home has been torqued higher by government and then they want to develop programs to make homes affordable….undo what you’ve done the last 30 years for starts and homes will come down…..urban growth boundaries restricting the developable land, regulation and permitting overkill, years to get a subdivision approved and underway, decades of attack against lumber and plywood mills completely devastating small mill towns and restricting supply of affordable building materials……on and on and on….now tack on interest rates……responsible homeownership is a way for families to stabilize long term costs to live and raise families. Fixed housing costs or at least value growth of an asset if you move, all leads to stability…..renters as a future, that’s a disaster…..the older you get the more you’ll pay for housing, into your 80s, 90s, etc…..if you get stuck in that, what a nightmare…….the only positive thing i’ve heard was first time home buyer loans with lower down payments, as long as that’s a one time event so it’s not abused…..increase the supply of homes on the market by a lot and pressure will start to impact what people have to pay for homes….increase the supply of building materials so builders have options and let market pressures impact pricing…..get govt permit process reasonable….local permit costs exceed $100k….zero reason for a building permit to cost that much for a single family home.
Grant seems like he is self serving to me. I dont know what he is talking about. I rent and have for the last five years . We pay 1850.00 a month for 2600 sq ft home in SW Ohio that is valued at 260,000… The mortgage payment even with the current interest rate would be around the same payment per month. Interest rates are high, but when you included the fact that a home that was 160,000 A few years ago, is selling for 240-260k with little to no improvements made, that is the real issue. We have not bought a house and will not do so till 5he inflated prices of the homes drops . If it doesn’t, we will buy land in a rural area and homestead. Good thing i was raised to hunt,fish, grow food. If you can not fend for yourself, it is gonna be a rough time .
Rates dropping will result in lower home price? Not sure about that. There’s pent-up demand to BUY homes. People that SELL will not cause an oversupply (which would decrease home values), because people that sell are also likely to turn around and go buy another home, adding back to the demand. Lower rates. Is going to at most stabilize values, and likely cause buying demand (and prices) to increase. That’s how I think about it anyway. Where’s the problem with that logic?
Grant knows better than this… If interest rates go down… real estate agents will encourage their clients to raise house price, because people can afford to pay more for the house, since the loan cost less. In what universe has lower interest rates ever equated to lower house market prices? I wish people weren’t so greedy… Grant is trying to be slick right there. Guys like him make a killing with lower interest rates… But right now with all the SF units he has, (1200 units, did he say) he is not making the money he expected in flipping these homes… And yes he is definitely flipping these units, because he can’t live in all 1200 of them!
The Fed doesn’t directly control interest rates, but it directs, or influences, or impacts them? It targets rates using the short-term Fed Funds Rate by manipulating the money supply. The Fed Funds Rate affects prime rates (of big lenders), which in turn impacts all borrowing rates, such as mortgages, auto loans, credit cards, etc. So, the Fed does, albeit indirectly, control interest rates. That’s why when the Fed raised the FFR mortgage rates went so high. Likewise, over a decade of Fed policy of very low interest rates created very low borrowing costs. The idea that by lowering rates, home prices will correct is speculation. We simply don’t know that will happen. Many thought higher mortgage rates will lead to a flood of supply. It didn’t happen. The supply problem is not fully understood. For some reason, home-owners don’t want to sell. Higher mortgage rates are not the whole picture, because 40% of owners are mortgage free. For boomers it is much higher. So lower mortgage rates won’t necessarily be the trigger? The AARP surveyed its members citing the ‘silver tsunami’ of boomers downsizing over the next few years, starting this year.
I’m sorry but I have to disagree with this man because it’s not supply and demand, it is what people are willing to pay for a property. I want to buy a house all my friends want to buy a house but we can’t do anything because of the interest rates the fact that these houses are over priced they’re not even worth what they’re being sold for. I don’t want to rent, I have no interest in renting. however, I can’t put down 20% on the current price of these houses because theses prices are ridiculous. So I’m just saving my money and I’m have to leave New York and buy a house somewhere else that’s more affordable because these rates and these prices are ridiculous. it has nothing to do with the current presidency, it has nothing to do with the interest rates it has to do with the fact that these prices are not equivalent to the value of the property or the home that’s on it. If the median price of a house in the majority of America is a certain price and the price in a city is about 5 to 11 times more and with less amenities it doesn’t make sense. The problem is that the prices keep going up but they’re not worth it. Like Chanel and Louis Vuitton bags. So whoever is determining these prices whether it’s the banks, the mortgage officers, the loan officers, the city, somebody’s determining that these property values have increased when in actuality they have not. That’s the problem. Lower the price of real estate by 50% and I guarantee you people will buy more houses. Guaranteed! Don’t blame the president blame everyone else who’s responsible for that money exchanging hands.
Greatest real estate correction of all time, but it won’t include single family homes? What prospective home buyer care’s about the commercial office space market? Buying a home is the best single investment a family can make. If you can’t afford the 7 percent rates wait. If you can reference later. Rent will go up every year, but a fixed rate mortgage won’t. This guy gives poor advice.
Try to get a job in Miami that you can actually earn enough to keep up with your rental.and have enough to eat they should criminalize . that kind of abuse from landlords what ever happened to rent control? it’s a beautiful place to live . but all the investors ruined it for everyone and now you got comifornians and snow birds buying up what Floridians cant buy due to the crappy Florida economy.its tapped out and about to implode any minute .I’d say invest in Pop up tents stock and camping gear I’m thinking it’s the best thing that is selling now . besides firearms and food.good luck with all that people are wising up.
The pandemic caused this locking people in their homes for months, allowing people to work from home and never bringing them back to the office-in turn spurred migration/ early retirement to other states w a better climate and looser pandemic laws eg Florida.-out if state mentality on property values ( comparing NY Cali etc to Florida property prices) led to over paying and paying in cash often, thus artificially inflating property values, rents etc. Lack of rent control allowed landlords to double rents in some cases. Now insurance companies are faced with properties that have doubled in price virtually over night, and so insurance goes up. Car dealers see the trend and used car prices/ new car prices go up. Meanwhile interest rates are raised and people(middle class 50% of popul.) are priced out and on and on. The lack of control on housing prices and rent has killed this country once again, a reversal does not seem imminent however, especially when people are willing to overpay. Unfortunately bankruptcies will be coming- another blow to the economy. We need to be smarter spenders as individuals. Where does it end?
First-time home ownership is OVER. “Starter home” is over 400k, average income is 60k. We’ve put in 77 bids in on 1st home, outbid by cash investors every time. We’re priced out due to price and mortgage rates. Wonder why Millenials and Gen Z are doom spending? Not getting married? Not starting families? Why is civil unrest growing while the wealth gap is larger than it ever has been in history? It’s because this economy is not for us, it never has been. It priced us out and left us behind before we got here. companies today do $13 billion dollar buybacks instead of paying workers more, pensions for retirement don’t exist, wages are sideways the past 50 years except for executives. This doesn’t end well for society at every socioeconomic level..
My family and I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
the fed has a goal of 2% inflation and were currently at 3.48%. the fed will continue to raise rates until their goal is met. were down from 9% in 2022. you’ll hear lots of real estate investors/developers get mad at this cause they’re losing money. this is normal, and how inflation is regulated. slow down spending, sellers get more desperate, prices drop, interest rates begin to drop. when it gets out of control, it starts all over again. 10 years up, 10 year down.
buying a house isnt right for you. Its not all about the money. There are many non monetary benefits to homeownership that brings stability to some peoples lives. Its not right for ALL people and it isnt wrong for ALL people either. People that stay put in homes they own also brings stability to communities, people that grow closer over time support each other inside these communities. Lots of benefits sir, think dollars get dollars, we all saw how that ended in the Christmas Story. I respectfully disagree Mr. Cordon-a
If the mortgage on a similar home is double what the rent is, how are the landlords making any money? Grant is a grifter. He wants to convince people they are better off renting from him so he can build equity in a home rather than them gain the equity themselves. I’d rather pay 2500 / mo gaining equity in a home than blowing 2000 on rent.
I’ve found in my experience as a home owner that it’s been one of the best investments you can make. Whats the option renting and throwing your money away. We bought our house about 9 and a half years ago and its almost doubled in price. Its not like its a car and you lose like 15 percent right when you drive off the lot.