Housing in pandemic boom towns up to 40% overvalued, says Reventure CEO Nick Gerli

your boy made it to CNBC

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..

Bro has been predicting a crash for the past 4 years when the house prices increased 50% in many places with a 7% mortgage rates. I cannot believe people take him seriously.

Nick is right it’s happening where i live price cuts up to 20,000 in arizona on houses that doubled since 2019

Nick has been ahead of the curve on this. Austin is collapsing. Texas and Florida are seeing huge amounts of inventory growth. Arizona and Tennessee inventory is climbing fast. Big price cuts in all these markets.

Raleigh, NC is up 100%!!! $450K house in 2019 is now $900k! Finally starting to see them sit and prices getting reduced. It’s going to get ugly over the next 24 months

I love reading the comments on every Nick Gerli video from the upset real estate agents. They certainly don't love bearish forecasts. Always such a joy to observe!

this is right, crash incoming, dominoes are starting to fall

For Sale signs popping up everywhere in SW Florida. New neighborhoods and condo projects sitting abandoned.

I think he is the only one who knows the market right now

Wow reventure is going mainstream!!!! Congrats my man!

all those places named saw huge increases due to covid, the problem is the prices were inflated by so many people from California, Washington, new York. Locals cant afford those homes, so what happens when people stop moving to those cities?

Way to go Nick! 🎉 glad they recognize your research and analysis.

Cnbc is such a joke. You can’t give a guest more than a couple of minutes? You’re a 24 hour network, you have the time!

So glad to see Nick in here. Smart fellow

Was in TN last week in the middle of know where. Was touring a $180,000 lot in a new community under development. Saw and toured the land at 11:00 AM and by 2;00 PM the lot was sold to a party from CA who looked at from long distance. Not much different this last week in AIken SC where home that were once 600k are now 950K and lots that sold for 60K are now 180K. Sales office says 60 buyers from all over headed to Aiken next week to tour. In Charlotte where I live a buddy's spec home has buyers from New England with $10 mil in investable assts pouncing on lake homes all over the area. Maybe things are slowing in TX, FL but not in certain areas for sure.

Inventory is surging in Florida a lot of homes that was just purchased in 2021-2023 are back on the market it seems they are trying to dodge the falling knife. Homes are sitting with price cuts.

Holy cow! Please stop having this guy on. He knows absolutely nothing about housing and has been wrong for years. Unfortunately, he has been staring, countless Americans in the wrong direction for a very long time. As a result too many people have missed out.

Where did you get that old picture of Jacksonville, could have just asked 😊

Jacksonville up 45%+ in the past three years. Prices currently are still at all time highs, with some early signs that inventory is increasing and price cuts. Those are the facts. And this guy who has been bearish for the past four years wants to take a victory lap? Jeez. Have some humility. LOL