Housing Market Update: Real Estate Bubble About To Pop? (economic crisis 2020)

Welcome back to your housing market update its September 8, 2020, and here is the new housing market update!

**UPDATE** Every new housing market update video will be going out every Tuesday night at 6pm Central time.

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0:00 Intro
1:11 Residental housing market update
3:00 Is it a good time to buy a home update
4:22 My thoughts on the residential housing market update
5:43 Texas housing market update
6:30 Total job losses
7:00 Will foreclosures happen?
8:15 Action steps for real estate investing
8:30 Commercial real estate update

***Residental Housing Market Update***
Mortgage rates for this week according to Freddie Mac, as compared to last year, are still at an all-time low. This is a significant drop in mortgage rates for the housing market update. The average real estate mortgage monthly payments have dropped $120 per real estate mortgage payment since the beginning of the year. In this looming real estate bubble, is it a good time to buy a home? My answer is still NO. The real estate market showed no sign of slowing down in the month of August. Everyone has been saying the housing market is red hot right now, which is from artificial reasons and could really cause the real estate bubble to pop sooner than later. And the stats from the month of August for the housing market update cause alarm because home prices are going up and inventory is selling very quickly in real estate 2020. And 56 days is the time a home will sell in the real estate market, almost a week quicker than previous years in the housing market update. Also, the average real estate home cost is up by 10% since last year's housing market prices. Also the inventory for real estate is 36% lower than last year's real estate numbers. I am not as optimistic as most real estate agents, mortgage brokers, or anyone who is trying to make money from you in the real estate market. Delinquency rates are at a record high for the housing market. There are many people flocking to Texas for real estate and in this housing market update, I am here to tell you Ft. Worth and Houston both have high mortgage delinquency rates.

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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.