Hey everybody, economic ninja here. Got an amazing story for you. It’s out of Business Insider. It’s the mainstream media. And they are telling you what I’ve been telling you has been happening since December of 2022. And that is real estate prices are falling. Now, what’s really interesting is what I’ve told you this before. I’ll say it again. By the time it’s in the mainstream media, it’s too late, right? Well, I say it because all the preparation you’ve done before then has come to this moment. Well, this isn’t a different thing. This isn’t an investment. It’s going up.

We’re talking about something that’s going down. And I said that the national population of homeowners will not understand this housing crisis until they’re told that they’re in a crisis during the mainstream media. The mainstream media tells them they are. So now you’ve got the mainstream media coming out. I’m going to read this story. And they’re saying, hey, real estate prices have fallen. And actually, the numbers they say, they don’t come right out and say it. They’ve fallen over 8% nationally. And here it is. And what’s going to happen is more news articles are going to come out about this.

Like, oh, the data just showed it did drop, right? Yeah, we’re sort of reconfiguring our data and house prices are dropping. So what’s going to happen is we’re already seeing a surge in inventory. You’re going to see an even bigger surge as people start to panic. So check this out. This is out of Business Insider. Home prices are falling at the fastest pace since 2022 as stubborn interest rates slash demand. Now, I’m pretty sure that the author, Jennifer Soar, watches this channel. And it’s just a hunch. It’s just a big guess. But check this out.

It says right here, home prices are falling at the fastest pace in over a year, thanks to demand plunging amid stubbornly high mortgage rates, according to Redfin. Now, I guarantee there’s going to be a lot of people that say in the comments, it’s not falling in my area. I’m going to explain exactly why you do not understand the fall or see how the fall is happening in your area. Okay, across the US, 6.4% of sellers issued a price cut in the month leading up to May 26, the real estate listing site said in a recent report, that’s the highest percentage of sellers that have slashed prices since November of 2022, when the 30-year fixed mortgage rate spiked past 7% for the first time in more than 20 years.

Price cuts have been steep enough to lower the average US home price, which recently notched a fresh record. The median price for a home fell $3,000 last week to $416,623, according to Redfin data. That’s the first decline recorded so far in 2024. Let me explain that first off. The reason why it’s the first decline is because we had one quarter of a little bit of an uptick due to seasonality sales. There’s yearly sales cycles in real estate, and they drastically affect the price because more people tend to buy in a certain time of year than in other times of year.

So you have more buyers than sellers. It’s just a normal effect. That’s the first decline recorded so far in 2024. Okay, well, let me explain this. The declines, they come out monthly, but the Fed judges their information quarterly. They come out with their stuff quarterly, and we’re in the second quarter. Well, we just started the third as of a couple days ago, but we only have one quarter’s worth of data, so no duh, right? So what is this telling us? Well, what the story didn’t tell you when they say, hey, the median home price, and it’s also happening with the average home price.

Sorry, some dogs in here. It’s also happening with the average sales price. What’s happening is, what they don’t tell you, the average home price, or the median, was around $440,000 in December of 2022. Little dogs. Type one if you’re a little dog kind of person. Type two if you’re a big dog kind of guy. Type three if you like cats. All right, so now that that’s over. So when you take the fact that homes were priced in the 440s nationwide, the average and median, what you’ll see is that at 416, we’ve already dropped a pretty significant amount.

And this is just the beginning. Like I said, now it’s in the mainstream media. They’re talking about it. Oh, yeah. Yep, that’s dropping. And the question is, are you ready for it? Oh, real quick. Preseason discount or preseason. Preseason. It’s a sport. Pre-filming discount for the Mortgage Master and the Mortgage Master 2.0. If you want to start getting ready, get all of your ducks in line. So when this crash makes full manifestation, and everyone’s freaking out running for the doors, and there’s less buyers than sellers. You’re going to walk into a bank and they’re going to beg for your business and you’re going to save thousands and thousands of dollars.

Okay, so links down below. So with this home situation, the media starts picking up more and more because they can’t deny the truth. I’ve showed you real estate cycles, taught everyone cycles and how they work and how to take advantage of them. And how you take advantage of them is you understand them way before the media does. And then obviously, that’s way before the public does. And so as you’re out there getting ready and positioning yourself, what you’re going to find is a ton of people are about to list their homes. And this is why.

Airbnbs are going to be selling off. Second homes are going to be selling off. That’s the first wave of a real estate sales cycle. Because they go, all they see is their dollar amount. There would be a net worth diminishing rapidly because they’re going, I had, you know, $200,000 in profit. Now it’s only worth 170. Now it’s worth 160. And month after month, and finally, I sell it. They need to cash in that gain. Well, when they go to list, it gets even worse. Now, I told you, I’d explain why in your town, you don’t see prices dropping.

This is why. The first driver of a real estate market is the perception of what the real estate professionals feel about the market. And this is why when you go to sell a house, you have a sit down meeting with your real estate agent. And they do a market appraisal, a, you know, a little tiny one or two page report. Maybe it’s three or four based on how many comps they pull. And they go, hey, based off of comparable home size, you know, sales in your area, I believe your house is worth X. Well, in a really hot market, that gets a little out of control because what happens is the real estate agent always goes, hey, this is a hot market.

We’re seeing homes flying off the shelf. Very few days of inventory. So the last handful sold for, let’s say 450. I’ll bet you because there’s nothing out there. We could list it for 470 and some schmucks gonna come along and snap it up. And sure enough, they do. And so what happens is people start pricing their homes ahead of the market. Okay, they start pricing ahead. Well, what’s happening right now? And this data says that only 6.5% of sellers sold their home or sorry, dropped their price. And you’d think that that’s not that big of a deal.

But what’s also happening, those are the people that overpriced their home in the beginning when they went to list it. And they didn’t sell it fast enough. They went, oh, crap, we got to do something. You got to make a change. So they dropped their price. Well, on the other side, what happens is all these other people are going to sell their home in your area. They’re meeting with the real estate agent. The real estate agents going, okay, so this is where we’re at. This isn’t the same market as it was a year ago. Homes, we’re getting some more inventory.

So you’ve got more competition. Days on market are extending. So because the buyer or the sellers already got an idea. Hey, I’ve been looking at Zillow and Redfin. These things have been flying off the shelf at 500 grand. See, and the agent goes, well, if you look at the date, that was six months ago. It’s changed now. I’ll show you some homes that have been sitting for like three or four months at 500 grand now. Those did sell back then. Now they’re not. So why don’t we, how bad do you want to sell the house? They go, we’ve got to sell the house.

We’re moving. We have a new job change or whatever. And they go, okay, well, then I think you should sell that house at 490. And you’re instantly 10 grand cheaper than everyone else. And they say, okay, so that’s their initial deal. Now, there are a lot of people that tell me, Ninja, you don’t know where I live. Prices aren’t coming down. Prices are still flying. Homes are still flying. Well, that’s because they’re actually asking less for those homes. And as the cities, and this is happening pretty rapidly, actually, as fast as they went up, they’re now coming down as fast as that.

You’ll, you’ll thank me in December. You’ll be like, okay, now I see what he was talking about. What’s happening is it takes while for those counties and those cities to record these deeds. And then, then they put that they give that data to the federal government. And then the federal government digests it and puts it out in their reports. So there’s that time lag. So what you’re going to witness here pretty shortly. And when I say shortly by January, the whole landscape is going to have changed. And the question is, were you ready for it? And how do you get ready? Get your ducks in line.

You start learning about the markets. The more you focus on the markets, the more you see the drops. I’ve got friends in all over the country. But like one buddy of mine, he goes, he knows I want to buy a certain type of house in a certain type of neighborhood. He focuses, hyper focuses on that neighborhood because he lives there. And he said, all of the $2 million houses right now are 1.1. I’m seeing it in my area. All the $2 million homes are about 1.2, 1.3 right now. It’s coming down rapidly. They’re not dropping the prices.

They’re simply what they would have been able to get $2 million for last year. They’ve got to list it for 1.2, 1.3. And there’s no way I’m going to touch a home. Remember, best time of the year to buy a home is during Christmas. I love buying a home the last week of November, first week of December, like getting in an escrow. I’ve taught you guys why and how to just shave tens of thousands of dollars off the price of a home. And so that’s my point. It’s in the media. There’s no hiding it. If you want the pre-filming discount for Mortgage Master, I can tell you this.

Look, after 14 days if you don’t like it, and we’re uploading videos right now. That’s why it’s so darn cheap. I’ll give you your money back if you haven’t watched more than 50% of it, but you’re not going to because you’re going to see very quickly your knowledge base is going to go up exponentially. And you’re going to be able to see, oh yeah, now I can see how I’m going to save thousands of dollars just at closing. I’m going to pick the right product at the right time, which is going to lead me to saving tens of thousands of dollars over the next the first few years of paying that mortgage.

And you’re going to be the one that walks in the bank and goes, I want that house. Here’s my packet that’s all prepared because I took the course. And they’re going to sit there and go, you obviously have done your homework. What loan do you want? And how fast can we give you the money? All right, with that being said, I thank you so much for watching. The Economic Ninja is out. [tr:trw].

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