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Epic Economist, AM 8/27/25
"Massive Mortgage Crisis, Price Drops Everywhere,
Housing Crash Has Begun!"
"The American housing market is collapsing, and even zero percent mortgage rates wouldn't save it. While the real estate industry keeps telling you it's a "good time to buy," the numbers tell a completely different story. In this video, I break down the shocking truth about what's really happening across the country. The nationwide surge in mortgage defaults jumped 13% in just one year, with 36,000 properties receiving foreclosure notices in a single month.
Here's what the data actually shows: home prices have shot up over 50% since the pandemic started, but wages? They've barely kept pace. In 1995, you needed about $34,500 in annual income to qualify for a median home. Today, that number is $108,000. The vast majority of people simply don't make that kind of money. Even more alarming - California's unemployment rate has hit 5.5%, the worst in the nation. Nevada leads the foreclosure crisis with 1 in every 2,326 properties facing default, while Florida follows close behind at 1 in 2,400.
But there's one surprising bright spot: Pittsburgh remains the only major metro where it's still cheaper to buy than rent. I'll show you exactly why this matters and what it means for the broader market. I also reveal why major firms like Coldwell Banker and RE/MAX are finally admitting that even free money wouldn't make homes affordable at today's prices - and what this means for anyone thinking about buying or selling. The housing crash has begun, and the warning signs are everywhere. The question isn't if it will get worse - it's how prepared you are for what's coming next."
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