Joe: 'The Housing Market Is Crazy Everywhere' | MSNBC 1

Joe: ‘The Housing Market Is Crazy Everywhere’ | MSNBC

With mortgage rates at historic lows, homes across the country are being snatched up. Morning Joe economic analyst Steve Rattner looks at the housing market as the U.S. comes out of the coronavirus.

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Steve Rattner: 'The Housing Market Is Crazy Everywhere' | MSNBC

65 comments

  1. Remember, we all struggle on the sea of life. Never lose hope for calm weather, and the opportunity to help others.

    1. The housing market is not doing great in democrat run cities just for the record! People are flooding from those cities … hence those areas increase in the housing market!

    2. We have seen the end of calm weather in our lifetimes. Between climate change and the wealth gap, there is only rough seas ahead for the next several generations if not centuries.

    1. Yep and don’t blame normal everyday people, the capitalist/corporations buying it up to exploit renters.

    1. @Cody Russow yep. A friend of mine had to pay 30% above appraisal to get a house this month. Crazy.

    2. @Blake B yes its happening everywhere , a normal everyday average Joe is having a hard time buying a house it’s crazy

    3. In my city – Milwaukee – the corporations are buying in the poorer areas of town, families and single people are buying elsewhere in the city where properties are more expensive.

  2. Yes I still remember when the republicans tanked the housing market in 2008…And yet somehow they managed to top themselves when they wrecked the economy this time around, not to mention the 600,000 people they killed..

    1. @Suckass Dems how?
      Did I say anything? Is calling you out on laughing on the deaths of hundreds of thousands of people considered “dope”?

    2. Republicans? What? It was exotic loans, people who took those exotic loans and big financial institutions that tanked the housing market.

    3. It was the fact that a car mechanic was making just as much as a doctor from the housing market that crashed it

    4. @Dre Hardin
      Trump only left the states to their own devices and failed to coordinate a national strategy because he failed to do anything from the beginning. He wanted to be able to point the finger at the states. Trump never takes responsibility for ANYTHING; he always blames others, which is the classic trait of the narcissist with a personality disorder.

    5. @Austin McCalla
      The Bush Administration deregulated the mortgage lenders, allowing them to sell variable interest rate loans. Previously, that was illegal.

  3. A lot of Rich investors are buying with cash. Me and my fiance are struggling to buy a condo right now.

    1. @Rhondas Place Hmmm, I don’t think the comment about ‘sleeping’ on a property has anything to do with economic status. Whether the property cost $50k or $5M, if you’re too slow to pull the trigger you’ll miss out particularly in a hot market. A realtor friend was just telling me about someone who nearly lost a property due to his dithering. In that case, his wife realized he was dragging his feet and she got him moving! Husband didn’t seem to realize he was in a seller’s market.

    2. @sungjoo park Great point. This “sellers” market might just be the new normal and this might be the cheapest houses ever get. Or the “bubble” could burst. My gut kind of tells me it’s the former though. Rich investors usually by low and sell high…if a bubble was going to burst, why would they be buying up homes above asking price??? However, I, like you, admittedly also have no clue, as I also know pretty much nothing about this.

  4. Just waiting for the housing bubble to burst again, then I’ll buy in. Folks in 2008 didn’t want to admit they were in a bubble either, until a recession became unavoidable.

    1. @Dre Hardin – Corporations are buying up properties. So, a sound investment? Until the US starts building again? Will this cause more homelessness? It will be very interesting to see how this turns out.

    2. In 2008 the government didn’t spend what it spent now. It’s the money printing that led to these insane prices in the first place and they told you how much it’s needed. You have a more uneven society now than even before.

    3. We’ve seen these housing cycles for decades. I remember a friend refusing to buy 25 years ago because he thought the prices would fall. They haven’t. Sales interest goes up and down but prices remain strong and (generally) rising.

    4. @FDM 215 Again, all you guys do not explain why they remain strong and keep on rising. You just make it sound as if it is natural. But that is hardly the case.

  5. Wealthy people telling poor people they don’t need more money. Name a more iconic duo. How about collecting the 1 trillion+ a year in unpaid wealthy taxes? Rattner? His financial disclosure put his net worth at between $188 million and $620 million according to the WSJ in 2009. This guy does not understand nor care for the poor.

    1. He understands but that’s also the reason that he glossed over so many things instead of going directly to the root cause. Nobody should actually believe that a wealthy person is actually going to tell the truth when it comes to finances.

  6. Why the infrastructure plan needs to be pushed forward. It is the boogeyman that keeps the RepubliKKKlans up at night.

    1. The way Republicans take advantage of the loyalty and naivete of their constituents is criminal.

  7. It would be nice not having to compete with investors or companies only wanting to purchase to increase their portfolio. Perish the thought of actually trying to purchase a house to live in.

    1. Yeah I know someone who’s house got bought by like a law firm(or something similar, not even a real estate company) and their lawyer basically said it’s a tax write off. They don’t plan to do anything with it other than let the current renter stay there.

    2. This too shall pass. The market will crash and prices will fall back into realistic territory. In the meantime, save as much as you can and put aside so you have a nice big hefty downpayment after the bubble bursts (because they always burst eventually). Go for a fixed rate mortgage and if you can afford the payment for a 15 year mortgage at whatever interest rate they are at then, go for it, your pocketbook will thank you. Know your target area in advance and keep an eagle eye unfailingly on it. The other thing to keep in mind is that eventually the market always responds to demand. New areas will be developed and new homes built. Supply chain issues won’t last forever; the price of lumber in the U.S. is already on a slow decline as supplies increase and we have plenty of wood in the U.S. to process, we’re not going to run out of it any time soon!

    3. @Lisa Lightner ​Property owners make the rules, or did you not know that? Do you not understand the association between Property and Law? Original property “owners” hire and pay people to do absolutely whatever it takes to “protect their interests.” This grows, eventually, into the situation we are now pleased to call “rule of law.” These original ‘”property owners” are those individuals who will stop at absolutely nothing to have things as they want them. They value fences, armies, and subservience from anybody who cannot stand eye-to-eye with them. They are Masters of the 7 Deadly Sins.

    1. Lol I feel the same way. People are selling homes now cause they think they can drive that price up but nobody wants to pay those prices when we run out of housing were going to all pitch our tents outside Mar A Largo.

  8. I’m waiting for that housing bubble to pop and we have to bail out wallstreet once again smdh

  9. The people talking about waiting for market crash to buy are just fooling themselves. There is always a limited amount of land and housing. But there is unlimited supply of printed money by the fed. If the market crashes and money loses value, then whatever you put aside to buy real estate also loses value…!!!..And the only beneficiary of market crash will be big companies with cash to buy properties, and then few months later say “Oh, the market is back”, and charge even much higher prices…!!!..This game has been played over and over.

  10. Not one comment on here mentions or even notices that the money printing is what caused this. The markets would have collapsed more than a year ago and you could have bought for pennies without it. Instead now they inflated the assets of the rich.

    1. Agent.. have you seen the coverage about this on every channel for the last few months? I have, you should take a look

    2. @agent. Projection much?
      Let’s see who is the real Russian bot.
      Repeat after me: “Putin is bad”.
      Your turn.

    1. Same here. I bought 4 years ago and my house is up 115k and climbing. I wouldn’t sell though unless I was retiring. My family lives here and it’ll stay that way.

  11. The housing market is popular because people finally realized it’s an investment that saves you money on extreme rents, while also giving you a nest egg if you need to save money. It’s not surprising, if you actually paid attention since 2008 you’d know what’s going on was predictable.

  12. It’s a lie. There are no buyers. They are raising the prices to recover losses. Don’t buy.

  13. The rich making a quick buck off the housing crisis, further creating a housing shortage.

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