House Prices Falling – Reaction To Goldman Sachs SHOCKING Prediction

In this short clip, Patrick Bet-David, Tom Ellsworth, Adam Sosnick and Vincent Oshana react to Goldman Sachs’s shocking predication.

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Uh Goldman sachs's four cities will Suffer a 2008 crash in home values the Stories from a couple days ago they Predict that home values will worsen Then through 2023 due to skyrocketing Interest rates and declining housing Prices The Firm predict that San Jose It's a lot of Sands San Diego Austin and Phoenix will see the most drastic Decreases of over 25 percent similar to 2008 just in 2023. Como sax expects Interest rates to remain at elevated Levels longer than currently priced in Which the 10-year treasury yields Pre-kink in 2023 and raising their Forecast for the 30-year fixed mortgage To six and a half percent by the end of 2023 the bank states that these cities Will suffer the lowest prices this year Because they become too detached from Fundamentals during the covid-19 Pandemic housing boom Tom what are your Thoughts on this uh Pat this is what We've been saying isn't it and this is Just the first set now Goldman Sachs has Said said here's the first set and these Are the ones that are going to fall the Farthest so they're easiest to predict Now there's other places in the country That are stable like right now Florida's Prices are stable kind of down four and A half percent what I was reading and It's because there's still enough demand In Florida to keep them there and

There's not supply to push it down but The transactions aren't happening so This is just the beginning of what we've Been talking about for nine months the Interest rates the overpriced market and Now here it comes it's coming back and The question is the reason you have a Crash Why do you have a crash because The price will fall until someone says I'll buy it That's how the auction that's how an Inverted auction crash works is the Prices keep dropping until somebody says You know I'll buy it just like the price Of art will keep going up at an auction At Christie's until somebody says I'm Out that guy can have the painting it's The exact same thing just in Reverse we Saw this coming we've been talking about It for a while Rob can you pull this up I'm about to send this to Adam you can Give some thoughts until he brings it up Go ahead yeah well I actually kind of Took a look at why these four cities We've all seen what's happened in South Florida especially in Florida uh you Know what goes boom must go bust uh Except for I think in South Florida and And where I'm kind of going with this is East coast versus West Coast everyone on The East Coast anyone in the Northeast And if you're New York Boston Jersey we Everyone is coming down to South Florida They call Miami the sixth Borough

Because they're not going to Atlanta They're not going to South Carolina They're not even going to North Carolina Some people are but everyone on the East Coast it says screw it we're going south To Florida all right cool so we can put That aside everyone on the west coast There's so many different options out There if you're in California you can go North to Oregon you go north of Seattle You go a little bit further east now You're in uh Vegas you go south you're In Texas like there's so many different Options out there but each of these four Cities I was kind of going through this With my buddy Joe who's here today shout Out to Joe and each of these cities have Actually a very nuanced approach so if You're looking at San Jose San Jose is What 20 minutes outside of San Francisco Hello tech jobs we're seeing what's Happening in the tech space Microsoft Google you know the list goes on and on About how many uh people are getting cut From their jobs ten thousand jobs being Cut okay so that's Tech the Austin same Thing with tech right isn't Austin a Tech bubble as well yeah so and it's Also what do they say keep awesome very Good point you're making yeah yeah and Yeah then they call Austin Texas so Hilarious and then obviously everything That's going on in California shout out To Gavin Newsom for the being the U-Haul

Employee of the year for the two years Running shout out to you everybody's Amazing with him MPP California politics At the cost of living it's crazy San Diego weird City beautiful city Expensive though why are you moving to San Diego what's the industry in San Diego last but not least this is Something that could raise a different Conversation Phoenix How much of that is immigration how much Of that is immigration basically people Saying yeah I don't like what's going on Here and in Phoenix so each of these Cities are very weird but uh back to Your point Tom you know the the Underlying tone here is interest rates Inflation cost of living for sure but Then there's a multitude Stay classy when you talk about San Diego can we go through a whale's vagina Can we go to this story here so if you Can show this that's what I said by the Way yesterday we talked about what we Believe what's done about that story With her maybe anyway so this is Bloomberg so we want to show both sides Of the story Bloomberg shows and uh Housing demand climbs as the U.S market Starts to show signs of Life great so For those that are on real estate this Is a plug for you go and zoom in a Little bit so I can read exactly what It's saying in the description if you

Can't do it okay there you go perfect Housing demand is starting to show signs Of recovery and with pending sales of U.S home prices uh home Rising for the First time in more than a year according To a new data from Red fin pending sales Climb 2.9 of December on a seasonally Adjusted basis this is the first month Over month increase since October of 2021 Redfin says on Wednesday other Measures of demand including data on Brokerage customers requesting home Tours and people contacting the Company's agents are up from November Read more at the link in the bio so go To the Bottom now let's see what people Say I want to read the comments now if You can zoom in a little bit so you can It says first one did a realtor write This number two don't do it next one I Was literally going over data last night That shows the opposite next one this is Completely false on all sorts of data Austin Texas is not having any issues Like Bloomberg post every week you'll be Broke believe in everything this page Posts LOL it's LOL so contradictory I Mean by the way it's like 99 of the Comments are saying you are full of Is what they're saying to Bloomberg Right so listen here's what we're gonna Know what we're going to know for sure Is by the end of the year my my the the Way I measure real estate is the final

One way Ask the average real estate agent the Other day I was on the play Travis and Buck buck show which is great they're Great at what they do and we're talking About the economy and I said you know if You want to measure how good real estate Is doing ask a realtor and ask him how Do you think 2023 is going to do you Know what their answer is it's cool wait No no no this is their answer they'll Say well I think 2023 is going to be a Flat year it's what's going to happen And then I think 24 25 is going to be a Great year if a realtor Whose very motivational wakes up every Morning listening to motivational videos Tells you it's going to be a flat year It's going to be down here okay because That's just how these things work if They tell you it's going to be freaking Great sick it's probably going to be Okay so flat gear means just you know if You're gonna sell and you're gonna if You're gonna live in your house for more Than five years you have nothing to Worry about if you're going to live in It more than 10 years you're already in It but if you're debating leaving six Months 12 months 18 months don't be too Greedy right now you may want to Consider selling your house and if You're about to buy a place if you're About to buy a place we're going to buy

This building down the street for uh They were in it for 54 million you know Which one I'm talking about 150 000 Square foot building we go and we look At it the guy says they'll take 32 Million right now I said I'm not doing 32. he says don't offer anything less Than 28 it's offensive I made an offer Of 26. by the way they said they walked That same building we made an off run Six seven eight months ago they were in The house yes in the building yesterday Upstairs when you came in oh that Was them good first of all you know what Penny does Vinnie Vinnie out of Everything I'm having a serious business Meeting this guy's working on a skin no Joke did you hear what he did Yes he showed me the videos he comes in With a briefcase saying Pat where do you Want me to leave the supply they just Dropped off he opens it up it's a bat It's a bag with sugar in it that looks Like cocaine Did you understand what I just said like He showed me the second floor is Serious Business Vinnie first floor he told me It wasn't serious people are you kidding Me that guy that guy has a half a Billion dollars of real estate you know What somebody in here was like no Vinnie Go mess with pennies long story short I Talked to the guy so now the same Property they wanted 50 that went from

54 to 32 you know what they're willing To sell right now 20 million dollars so I made a 50 million dollar offer but Here's the data took the 26. they should Have taken 26 I would have bought it pat Did me come than me showing up with by The way when I tell you beautiful Building I mean beautiful Tom is it a Beautiful building it's a beautiful Office Crystal Clear building everything Immaculate but so we're gonna find out What's gonna happen on real estate I'm Giving you commercial real estate I'm Not telling you residential I'm giving You strictly commercial but we're gonna See what's gonna happen real estate next 12 months the reality is someone's going To be right A lot of people okay so if You enjoyed this clip you want to see Another one click here to watch another Clip and if you want to take advantage The latest gold Signature Series Pride Products that just came out we have a Bunch of new merch that's out this is a Color changing mug when you drink coffee That lion turns into a real lion and Then we have hoodies with vitamin gold On it the gold Signature Series hat Shirts I'm an entrepreneur anyways we Have a lot of items they're selling out If you want to take advantage of the Gold Signature Series click here place Your order Sports your right taming gear And tag us with the hashtag

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