[00:02] The United States housing market is about to collapse 80 to 90% about to collapse 80 to 90% which means homes that were worth 1.5 which means homes that were worth 1.5 million will be worth 300,000.
[00:14] >> Oh my god. The biggest crash in US history is here. Prices are about to come down 80 to 90%. The claim that bold surely this guy is about to drop some serious knowledge on us. >> Now the reason why is simple. The US
[00:29] housing market has reached its most unaffordable level in history. People cannot afford to buy homes and if they cannot afford to buy homes, the market
[00:42] >> Okay. Are you ready for the real situation? US housing affordability is is not the worst in history. It was actually worse in the 1980s and the housing market did not collapse that. So strike one against your argument there.
[00:56] market? It's true that when affordability is low, buyers do leave the market. But there were still more than 4 million home sales transactions last year when affordability was actually worse than it was this year.
[01:09] But more importantly, what people like this always miss either intentionally or they don't understand anything about how markets work is that even though demand is lower than it was a couple of years ago, so is supply. This is econ 101
[01:22] stuff. I don't know if I need to speak really slowly so he understands that this is how economics work. >> How hard is this market going to crash?
[01:36] When you look at the data, this crash is most likely going to be worse than the crash that we saw in 2008. We are going to see prices come down 80
[01:50] to 95%. >> What data? What? Seriously, what data are you talking about? Show me one little piece of evidence that suggests that the housing market is going to crash even 10% let alone the greatest
[02:05] housing collapse in United States history. For reference, in 2008 from peak to trough housing prices went down 20%. He's saying they're going to go 20%. He's saying they're going to go down 80 to 90% based on what? On
[02:18] absolutely nothing is the answer. This guy is completely full of it. There is no evidence that anything like this is anywhere close to happening. By the way, completely fake. That is not even what their UX looks like when they do a price
[02:32] cut. It actually looks like this. So, this is just a terrible Photoshop job to go along with a terrible take on the housing market.