Michael, I am a fan. But when your content touches on politics it makes me uneasy. The American economy is deeper and bigger than politics. Corporations are a powerful lobby group for both parties. Money is the powerful party not politics. Personally, I'm not ready to turn over the White House to a wanna be dictator who idolizes Viktor Orban and Putin. I don't want to live under autocracy like China and Russia. Soon, we could be arrested for posting opposing views against Trump and his "movement." smh 😟
Presently, we are living with an uneasy environment of cancel culture, large government and division. Nothing is uniting us and I feel we can’t continue on this agenda, rather counterproductive for personal and economic growth. We need new leadership.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Is that wind noise on the microphone, or THUNDER? I love the sound of thunder and the look and feel of approaching thunderstorms. That's one thing I miss about Florida.
I am definitely moving into a position for a bear market, getting into emerging markets outside the US, gold, silver and TBills. I'm also getting into real estate for rental properties in vacation areas outside the US as well. Definitely going into plan C mode and moving to Argentina to ride it out.
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Very true, you can be passively involved in the markets and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I disagree I've been in construction 40 yeas also and 09,10,11 and 12 no houses being built so I went broke, now at least they are still building, but I do agree housing costs are ridiculous😮
We cook at home. We are tired of being disappointed with the quality and price of food, service etc and they are pushing the alcoholic beverages. Prices are starting to come down in Northern Virginia. The realities of these markets will come to fruition, just remember it will affect everyone differently.
What part of northern va ??? I used to live in Great Falls , Va , long time ago . I know the cost of living there , been expensive since the early 1970's.
I don't see what you say as negativity. You speak as you see it and what you see stinks. So, there's no reason to sugar coat it. If anything, I'd say your videos are peptalks filled with great advice helping people prepare for the worst. You deserve way more subscribers.
Don't know anything about gardening, but I do have some tools so I will be replacing the clock spring in my car steering wheel tomorrow - been putting them off👍.
Have you noticed that corporations' profits are growing x-times the inflation rate, which means their price increases are far more than their cost increases, and stock buybacks are at a record high.
I'm japanese. My country has been suffering from a long recession. The only good thing is the stock price. Prices are low, but wages are even lower. Taxes also rise every year. I was envious of America's rapid economic growth, but I realized once again that life in America is just as difficult as ours, or even more difficult...
It depends. Food in Japan is much much cheaper, but Japanese people live with less things. Americans have more, but SPEND more. If Americans lived to Japanese standards, we'd be super super rich.
@@Dre2Dee2if you consider the difference in wages, it’s cheaper in the states. Try buying the same amount of meat of produce in Tokyo as you get in your city. It’s definitely more expensive there. (How much is it to buy a pound of meat?)
Something's gotta give? That's when they said in Venezuela, right before they were using wheelbarrows to carry the money to buy 1 roll of toilet paper. It was cheaper to use the cash.
Not just a bidet, solar panels, gardening equipment, hunting tools like guns/bows etc, dig septic, dig a well, raise your middle finger to all these companies.
The IBA consists of multiple banks, an oversight committee, and a panel of internal and external chair members. The IBA sets gold spot prices and gold fixed prices based on supply and demand as well as the gold futures derivative markets.T@@--Morpheus--
@wiser3754 the right pepper doesn't carry excess inventory, we're ready to produce and protect at our best ability, inventory would run out eventually and could be wasted as well , being production ready today is saving me a lot of money anyway
@@dedriannehartgers629how much is a good amount? Also, many businesses are cashless, which is awful. I’m just wondering how having cash will be helpful.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
I worked like a slave for over 20 years, always kept a roof over my head. Since 2010 I have been homeless several times and it is a incredible nightmare just to find unaffordable substandard housing.
Being raised by my grandparents, who went through the Great Depression", many of their frugal ways rubbed off on me. It is paying dividends for me today as I remove unnecessary expenses from my life. You look in my wallet George is wearing sunglasses because it's been so long since he's seen the light. If you want to survive in this economic climate you must insist on value for your money, have an emergency fund, invest carefully and do as much as possible for yourself (eat at home, grow a garden, learn to can and learn to do simple repairs yourself). One more thing. Don't loan money to anyone. If the bank is afraid of them you should be too.
*That's called Price Gouging* !!!!! I am shrinking my choices to what I normally buy, as far as food , clothing, etc. Example if the clothing is THIN materials and looks horrible , I'm not buying . Food, we only buy the foods , we eat and not a whole lot of foods either. We are budgetting even more than we ever have in our Adult lives !!! Example I don't buy a lot of Process foods , that will make anyone sick. because process foods has to many Chemicals in it and The United States is the ONLY country , who gets away with Chemicals in the food . I seen the list on youtube. *I Have Changed My ways and mind on everything* Restaurants and fast foods , feel they can get away with RAISING THE PRICES AND PRICE GOUGE , on customers. *People better take a stand and say No , we aren't putting up with it* !!!!
You say that, and yet you incessantly bitch about getting a pay raise (for nothing in return) because YOU want more money So really its the pot calling the kettle black, huh?
@@Dre2Dee2 classic boot licker tactic blame the poor not the billionaire trying get another billion or the corporations getting some government assistance.
@@Dre2Dee2If your raises don't match inflation, your boss is demanding you provide the same services for less buying power. You seem like an expert, does boot polish come in sriracha flavor yet?
Then you get a lot of inflation as the deficit and treasury debt roll overs are monitized. That's how the govt will get out of its debt trap - inflation. Anyone holding value that isn't an inflation hedge will suffer the impairment.
It goes to 1 T every 80 days...then 60. Then it absolutely stops at 58 days. Absolutely. Only kidding. It goes on forever. I'm curious what you think stops it? Are we going to run out of money? Is the dollar going to lose it's reserve status? Are we all switching to Bitcoin? Only a civil war. That's all I can think of. And they are trying.
What will happen is we’ll all have no SS with bankruptcy but there will be trillions for wars and other corrupt countries to siphon our hard earned tax dollars.
I'm in Canada and it is basically impossible for me to rent a room and own a car at the same time working a factory job being single i never even think of home ownership at this point :(.
I am no expert , but I say , pay your debt off and continue paying your rent . If you can , can you get a second job? or is it not possible? I keep telling people to start their parttime job on RUclips . Just make sure to have a good content . It starts out slow , but at least you are trying.
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
This is huge! Think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Natalie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
Agree with what our host says. Government needs to work smarter instead of increasing borrowing. No need for 87,000 new Jack-booted, gun-toting IRS agents. Jobs need to be created in the private sector
but if more tax money is taken in, there will be less money in the economy causing inflation. That is why the tax increases when Bill Clinton was President worked, the wealthy paid higher taxes and the dollar was weaker and manufacturing could compete better on world markets. Bill Clinton had the most jobs created during his Presidency.
The amount of businesses started has decline (except during covid( because people don’t have money. Keeping people broke is your companies way to keep you an employee, and stats say it’s working. No competition? Prices can go up.
So strange. We have 107 people working at our lil factory. And EVERYONE is doing pretty good! All got raises the last 3 years. People actually laugh, talk and are friendly. Seem to be pretty positive. I guess most of us that are smart with their money and work for a good company are actually doing really good.
Yep - home-purchases should be limited to private individuals, and, if there's a 'housing crisis', those should have to be citizens. If corporations want to own residential property they should be invited to build apartment tower-blocks, for rentals.
Option 4: Screw it. I'm done with all the crazy. I'll just buy a trailer and live like a hermit crab, carrying my home around with me wherever I feel like driving. 🤪
This is worse than 2008. The house market gave me quite a scare recently. A home is just not the best investment right now. Recently had to sell one of my homes in California, looking to invest about $400,000 of it in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 7years, I’ve had a financial advisor consistently restructure and diversify my portfolio and I’ve made over $3 million in gains… might not be a lot but i'm financially secure and that's fine by me.
No way would I want one in CO. right now. People are trying to sell left and right because of property taxes. I counted 13 homes for sale on the way to the store 3 miles from home yesterday. Things cost too much anymore, something goes wrong ...if it's too much, yikes.
Stacking cash and hoping this bubble bust that's all I got and I'm sticking with it. Don't care if it takes another 5-10 years I'm not paying these prices.
There are these things that scrub the carbon dioxide from the atmosphere. They require no maintenance and last between 5 to 10 decades. Oh yeah, they are called trees. A carbon tax is just away for your socialist leaders to take your money.
I agree about trying to get rid of excess debt. I just paid off 2 auto loans and zeroed out all credit card debt. Now I'm prepared for WHATEVER the economy is about to throw at us.
@hvaball150 Good thing I don't have to worry about job loss since I'm Retired Military with a pretty nice military pension. I prefer to make my own burgers at home.
You are absolutely correct. It does seem like we are collectively making the viewer from Pensacola quite upset. It is unfortunate that we cannot have civil discourse without resorting to name calling. (Apologies once again to said viewer for the big words.)
Dallas Tx reported today that an individual needs income of $123,000 yr to afford average mortgage today. Sounds like they gonna needs alot of raises for peeps or they heading towards a dark place
I thoroughly enjoy your videos I think they're extremely informative and very helpful I have learned a lot I want to thank you very much please keep it up,.... I think that 99% of us thoroughly enjoy you
Now you're talking. The spending has to stop. I'm 68, still working but very very worried about my children and grandchildren. If we don't get the national debt under control, we are sacrificing the future of the oncoming generations. People my age and older in power are making horrible decisions selfishly to make young people pay for the debt. Can you all imagine 90% of our GNP going just to pay the interest on 40 trillion. Vote for politicians hopefully younger who will not give out free money. Michael's advice is positive not negative because his plan will make your life better. I followed it for the last 40 years and am better off.
My guess: The average person that watches Michael's RUclips broadcasts is significantly smarter than the average American. Please continue mentioning to young people that Congress is the primary reason asset prices (stocks and real estate) have increased so much over the last few decades. So few Americans have taken Economics 101 and 102 courses. The extra money (US Govt. debt) in the economy eventually ends up in the hands of savers, homeowners, and business owners/stockholders. There is no easy way out of this terrible financial situation: US Government debt default, inflation, or austerity. The Social Security "Trust Fund" goes negative in 2035. The other US Government unfunded liabilities are over $120 trillion. US Government tax receipts in 2023 were about $6 trillion. The 2030s and 2040s decades is going to be financially difficult. Expect more social unrest too.
In research what you did is known as confirmation bias. 😂 You have been making the same claim for the past 4 years. Recessions happen every decade or so you aren't predicting anything outside of stating the fucking obvious
The listing homes are crawling up. However, the prices are still 30% over valued. Home owners list their prices 30% higher and then reduce 5%. The unemployment is the only catalyst to pop the bubble. The government keeps showing employment is strong and healthy with inflation “is still ~3%”.
You're not alone I've got a 2015 Altima it's freaking needs a new engine 106,000 MI I'm retired and my income is not enough to get me into a car loan now
Meh. I'm old (60) and have seen shit come and seen shit go. I'm actually enjoying the circus these days. Whatever. I'm not invested in it. It is a self correcting system.
I’m 53 and in debt and broke as hell. All they do is work. I’ve defaulted on credit cards and business is starting to pick up again, but it’s too damn late. All I can do is just keep working.
They’re trapped by the price, not the interest rate. Because if those people sell right now make a profit. Rent for awhile wait for the price to come down and then take that 200,000 or $300,000 cash that you got from the sell your house and be able to buy one cash. It wouldn’t be an issue. Doesn’t matter what the interest rate is. The prices are too high, it’s never gonna work
Come to Canada $200,000 - $300,000 is your down payment, not the mortgage, at least traditional mortgages are. The boon dock homes are California money up here. Its nuts and I don't know how sh** can go any higher. Its like 15-25 years average wages here to pay the principal, let alone the interest.
Prices were also much cheaper back then. Yes interest rates were high but you only needed 2-3 times the median income to afford a home. Now you need 7-9 times the median income to afford a home. The mortgage payment today is way higher than back then even at a 15% interest rate.
Yes, all markets are cyclical, which is why the crash bros keep harping about the coming crash. Of course the market will go down at some point, but sitting on the sidelines and missing one of the biggest price runs in history only works out if it falls below that previous starting point.
@@rynolonewolf I know I live here. Even with that it’s still way cheaper to live here than many places. I’m actually moving to Florida from Michigan but my family will stay here
I live in Ohio and life is still cheap but just remember one thing, when the West Coast runs out of fresh water the Great Lakes the region will be hot again
@@jimmyjay689 Detroit and flint is not all of Michigan. There are plenty of jobs. I’m trump 2024 and wish it was more conservative here but jobs aren’t a problem.
I've been a sahm for 11 years. My husband's single income has been able to support our family of five & he's never broken $100k annually. I have never felt poor - quite the contrary. Especially currently. Redefining wealth classes is about to make many heads spin.
I close on my first house in upstate SC in April. Good neighborhood, good property close to amenities for $115k. Its no wonder so many people are moving here.
What scares me is generally people here in this country is not used to hard life and have a high sense of entitlement and they might go bananas when things get hard/harder for them. A perspective from a person who live half of his life in a third world country. Feel lucky to have an option to go back to the old country and spend less than half of what we are spending now in los angeles.
Do yourself a big favour. Buy yourself a big wide brimmed hat , a brim of at least 3 inches . It will protect your face from the florida sun and in 15 yrs you'll look like you're 50 yrs old....and not 65. Dark shades won't stop the sun beating up your skin
Where does that dude in SC live? I have the same conditions putting 20% in 401K through work and investing another 8K in Roth IRA and 8K in brokerage yearly off that same gross amount. Some areas must blow with HOA's etc...
Taking a year and a half to do a roof seems crazy. I had mine replaced late last year and I think it was less than two weeks between getting the estimate, signing the papers, and having the roof and gutters sorted out (different teams on different days). It seems like that contractor just really didn't want to do that job or something.
1) stop watching social media & nonsense tv shows & news & talk shows. They're lying to you. Watch more shows like Michael. 2) Grow your own food. It's healthier, tastes much better & you'll save money! 3( Get out of Debt.. somehow, someway! 4) invest in gold & silver ( real money). 5) Be frugal, no matter what anybody thinks! Don't waste money! 6) Listen & learn from your elders. Experience teaches a lot! 7) Be thankful & count your blessings, so many have it worse you !!
It is no joke. I'm blessed to have an okay job and work remote. I'm paying off all credit card debts by this summer while still being able to put 10% of my pay in a HYSA while investing in stocks and REITs. I have cutback on going out and spending on non-essential things. Definitely no brand new phones or Teslas over here. Lol!
Saw this coming 3 years ago. Sold my Florida home awa my Canadian condo. Did 2 smart things afterwards. Invested heavily in BTC proxies (MSTR) and moved to Thailand. Standard of living is similar however cost of living is 1/4. Glad to hear you finally mentioning BTC…the best performing asset the last 12 years. I stay in touch with family/friends in both countries…they all say “things are getting worse”. Glad i found the “Land of Smiles”.
The majority of Americans bought the lie they were sold - that having a "good job" with a good income would make you middle class. If you work for someone else you're a member of the working class - regardless of your income.
For the people with the "golden handcuffs": I'd sell the home now while it's still possible. Rent until the housing market returns to sanity. On metals: You will lose money due to dealer spread. But you'll probably lose less than many other assets. On the college student buying silver: Debt free before investments bruh! Do not buy anything you don't have the cash for, ESPECIALLY college, which is a waste of money for most people. Not only debt free, but debt free with at least 6 months of USD for bills, and 6 months of food and everything else you need. THEN invest. Michael- I agree 110% on the answer is higher rates, no more free handouts, let the depression happen for the long term good of the country. The workforce needs to shift to jobs that provide the essentials- food, energy, BASIC housing (simple shacks), and repair of existing things (IE mechanics and handymen).
We are finally giving up on renting. It is always uncertain from year to year. The rent keeps going up and the landlords seldom fix things well due to not wanting to spend money. We are having a home built. Yes, it is expensive, but at least then we will have more certainty. Job one all the time will be to make that payment on time and every quarter or so, pay a little extra. Not everyone's situation is the same. Rentals here are nearly what it costs to own a new home. I say buy a new home and work hard to keep it.
Nothing printing a few trillion and farming it out to the banks to make corrections will not fix. Hell with what it does to middle class and inflation down the road .
Hold on now. Wants to sell his house and buy another cheaper in the same neighborhood?? Lots of luck with that. MY last mortgage 8-1/2%. Today no mortgage; no debt! Advice: make due with what you have.
As a handy/maintenance man in upstate ny I've seen a significant rise in calls for service. Without fail every customer is surprised I show up. There seems to fewer and fewer folks out there that want to do this kind of work.
It is so hard to listen to you lately because you really have an agenda and it's boring. So I turn u off. Also, there r just some things in life that r just plain relative😊
A few years ago we nearly zeroed out. Once stabilized, we put $500/month into a 1 year CD, no rollover. Each year after, when the CD matured, we took that initial amount, added another $500 and opened another 1 year. Did this for 4 years. When my wife was suddenly transferred on 3 weeks notice, we let those CD's lapse for a few months until we were situated - and it absolutely saved our butts. Not only did we still have her regular income, but the maturing CDs helped cover moving, suddenly needing a second car, setting up the new place, etc. We've since rebuilt those lapsed CDs, have a separate savings account just for moving, paid off the second car. But having the liquidity of a few grand a month saved our bacon - even if the rates were crap when we started.
@@mowtivatedmechanic1172 Sorry for the delay, life with kids... Before maturity, you have to tell the bank that holds it what to do at maturity. Typically there are three options: cash out the entire balance to a regular checking or savings account you hold; have the interest accrued paid out to one of you accounts while the principal rolls over to a new term; or have the principal and accrued interest roll over.
@@Pencil-o1p The amounts aren't enough to really worry about taxes. With Capital One not having minimums, I've been able to build over time at a pace we can afford. Because we can access the maturity settings at any time, if we suddenly get transferred again, I can just change the ones coming up, and be assured we'll have X amount coming in monthly no matter what situation we wind up in.
We can come out of it when we start drilling again and become energy independent AGAIN !!! get the DemoRats out of office we were a whole lot better with Trump. And for those of you who don’t agree answer this ,,,, are you better now then you were 4 years ago under Trump !!!????
Government may try to keep the economy from going to recession, but they will end up making things worse. Borrowing and printing money to stimulate the economy just makes inflation worse. At some point recession is unavoidable. When you hear the word deficit, that means the government is devaluing the dollar. So, prices go up. Vote out all incumbents.
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“Personal Interest Payments” JUST HIT A RECORD HIGH! ruclips.net/video/5FYGtgxPyt8/видео.html
Michael, I am a fan.
But when your content touches on politics it makes me uneasy. The American economy is deeper and bigger than politics. Corporations are a powerful lobby group for both parties. Money is the powerful party not politics.
Personally, I'm not ready to turn over the White House to a wanna be dictator who idolizes Viktor Orban and Putin.
I don't want to live under autocracy like China and Russia.
Soon, we could be arrested for posting opposing views against Trump and his "movement." smh 😟
Why the eletric cables are not in underground like other neighborhoods in US?
Biden is jailing journalists.
MSM is ignoring reality as the nation fails.
Presently, we are living with an uneasy environment of cancel culture, large government and division. Nothing is uniting us and I feel we can’t continue on this agenda, rather counterproductive for personal and economic growth.
We need new leadership.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Annette Marie Holt is the coach that guides me, you probably might have come across her before I found her through a Newsweek report. She's quite known in her field, look-her up.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Is that wind noise on the microphone, or THUNDER? I love the sound of thunder and the look and feel of approaching thunderstorms. That's one thing I miss about Florida.
"Let the free market decide"
I am definitely moving into a position for a bear market, getting into emerging markets outside the US, gold, silver and TBills. I'm also getting into real estate for rental properties in vacation areas outside the US as well. Definitely going into plan C mode and moving to Argentina to ride it out.
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?
Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder
Very true, you can be passively involved in the markets and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.
Could you kindly elaborate on the advisor's background and qualifications?
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
I've been in real estate and construction for 40 years in Ft Lauderdale, this is worse than 2008
I totally agree with you 100% !
Worse than 2008?? Already??
People keep buying here though so I don’t see it crashing
And the “pop” is gonna be so sooooo sweet. I’m just north of you.
I disagree I've been in construction 40 yeas also and 09,10,11 and 12 no houses being built so I went broke, now at least they are still building, but I do agree housing costs are ridiculous😮
We cook at home. We are tired of being disappointed with the quality and price of food, service etc and they are pushing the alcoholic beverages. Prices are starting to come down in Northern Virginia. The realities of these markets will come to fruition, just remember it will affect everyone differently.
What part of northern va ??? I used to live in Great Falls , Va , long time ago . I know the cost of living there , been expensive since the early 1970's.
I agree. Restaurant food and service has deteriorated badly.
You can get better food that you make yourself anyway, definitely on board with that notion.
Don't forget the forced tip that now is mandatory
@@hectorlopez1196 Some restaurants in NYC also add a surcharge to help cover health insurance for the "server." Crazy, eh!
I don't see what you say as negativity. You speak as you see it and what you see stinks. So, there's no reason to sugar coat it. If anything, I'd say your videos are peptalks filled with great advice helping people prepare for the worst. You deserve way more subscribers.
I agree
Planting a garden, getting to know your neighbors, and buying a set of quality hand tools and learning how to use them would be a good start.
Most of my neighbors I don't want to know, didn't even want them to move in. I have a surveillance system because of them.
Renaissance man.
Not happening to.many Democrats around ruining it all for everyone.
Don't know anything about gardening, but I do have some tools so I will be replacing the clock spring in my car steering wheel tomorrow - been putting them off👍.
I plant edible landscape on the side of my front yard, my garden is admired by my neighbors ;)
Most fast food places serve CRRAP FOOD prices way to high !
Have you noticed that corporations' profits are growing x-times the inflation rate, which means their price increases are far more than their cost increases, and stock buybacks are at a record high.
I'm japanese.
My country has been suffering from a long recession. The only good thing is the stock price. Prices are low, but wages are even lower. Taxes also rise every year. I was envious of America's rapid economic growth, but I realized once again that life in America is just as difficult as ours, or even more difficult...
It depends. Food in Japan is much much cheaper, but Japanese people live with less things.
Americans have more, but SPEND more. If Americans lived to Japanese standards, we'd be super super rich.
@@Dre2Dee2if you consider the difference in wages, it’s cheaper in the states. Try buying the same amount of meat of produce in Tokyo as you get in your city. It’s definitely more expensive there.
(How much is it to buy a pound of meat?)
Yall need more babies
@@JG-id5vi😂
Japan is so beautiful. The people are so polite and respectful.
As the person said, "The powers that shouldn't be.." They haven't created enough misery. There are still a few left in the middle class
We are not going anywhere...
kulaks
Ppk hv allowed and installed them..lol tough luck
Yep, that's the plan, destroy the middle class.
@@hoppeanofasgard1365 Who's plan ? Not them again ? The Klingons are innocent ! lol Conspiracy theorists never stop
I bought a house for $175k yesterday in a nice neighborhood in SC.❤
congrats!
Well done.
You just sent anopen invite to people from California
@@clintonnmalenky3078 Good! Come on down!!! 👍🏽
South Carolina…. 🤢
I had my roof replaced a couple of years ago. All the workers were immigrants. None of them spoke English.
Had the same experience. It was funny because I named my dog Paco, I called for him and they all looked up.
My condolences hearing about your Grandma, she is definitely proud of you. Keep speading the truth.💯
Something's gotta give? That's when they said in Venezuela, right before they were using wheelbarrows to carry the money to buy 1 roll of toilet paper. It was cheaper to use the cash.
buy a bidet for the toilet, just in case the TP runs out again.
Not just a bidet, solar panels, gardening equipment, hunting tools like guns/bows etc, dig septic, dig a well, raise your middle finger to all these companies.
No former reserve currency was transported in wheelbarrows. Ever.
@@hvaball150 Yet.
Nixon closed the gold window giving the Fed free rein to print unlimited fiat currency. Both parties have taken advantage of that ever since.
Also J.P. Morgan sets the prices on gold and silver
The IBA consists of multiple banks, an oversight committee, and a panel of internal and external chair members. The IBA sets gold spot prices and gold fixed prices based on supply and demand as well as the gold futures derivative markets.T@@--Morpheus--
No. JFK was going to mandate Silver backed currency, and he was killed partly for that reason. When he was assassinated, the Fed took over.
They don't print they borrow
They don’t even borrow…. It’s a creation, out of thin air.
I have been a die hard prepper for 15 years,it gives me a little peace 🕊️🕊️
I wished to know more about prepping or I wished someone told me 20 years ago , at least it would given me a head start.
And a whole lot of inventory.
@wiser3754 the right pepper doesn't carry excess inventory, we're ready to produce and protect at our best ability, inventory would run out eventually and could be wasted as well , being production ready today is saving me a lot of money anyway
Dehydrate food, have water filters. Have cash on hand. Be safe.
@@dedriannehartgers629how much is a good amount? Also, many businesses are cashless, which is awful. I’m just wondering how having cash will be helpful.
Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult
People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I appreciate the level of engagement you have with your audience
I worked like a slave for over 20 years, always kept a roof over my head. Since 2010 I have been homeless several times and it is a incredible nightmare just to find unaffordable substandard housing.
@daviddestin1990= Where are you, as i think that is a major difference?
And what mistakes can you admit to that ended you up in this predicament?
Lots of suckered out there,it's not just you.
Why didn't you buy land or a home during those 20 years of working????
These sheeple are all holier than thought. 😅
Being raised by my grandparents, who went through the Great Depression", many of their frugal ways rubbed off on me. It is paying dividends for me today as I remove unnecessary expenses from my life. You look in my wallet George is wearing sunglasses because it's been so long since he's seen the light. If you want to survive in this economic climate you must insist on value for your money, have an emergency fund, invest carefully and do as much as possible for yourself (eat at home, grow a garden, learn to can and learn to do simple repairs yourself). One more thing. Don't loan money to anyone. If the bank is afraid of them you should be too.
The thing that gets me the worst is the companies raising prices not because they have to but just because they can. greedy a holes.
*That's called Price Gouging* !!!!!
I am shrinking my choices to what I normally buy, as far as food , clothing, etc.
Example if the clothing is THIN materials and looks horrible , I'm not buying .
Food, we only buy the foods , we eat and not a whole lot of foods either.
We are budgetting even more than we ever have in our Adult lives !!!
Example I don't buy a lot of Process foods , that will make anyone sick. because process foods has
to many Chemicals in it and The United States is the ONLY country , who gets away with Chemicals
in the food . I seen the list on youtube. *I Have Changed My ways and mind on everything*
Restaurants and fast foods , feel they can get away with RAISING THE PRICES AND PRICE GOUGE ,
on customers. *People better take a stand and say No , we aren't putting up with it* !!!!
You say that, and yet you incessantly bitch about getting a pay raise (for nothing in return) because YOU want more money
So really its the pot calling the kettle black, huh?
Mostly dollar devaluation. Price gouging is an effect of that
@@Dre2Dee2 classic boot licker tactic blame the poor not the billionaire trying get another billion or the corporations getting some government assistance.
@@Dre2Dee2If your raises don't match inflation, your boss is demanding you provide the same services for less buying power. You seem like an expert, does boot polish come in sriracha flavor yet?
One trillion dollars every 100 days. That can only go on for so long. Then what happens?
Then you get a lot of inflation as the deficit and treasury debt roll overs are monitized. That's how the govt will get out of its debt trap - inflation. Anyone holding value that isn't an inflation hedge will suffer the impairment.
Boom
It goes to 1 T every 80 days...then 60. Then it absolutely stops at 58 days. Absolutely.
Only kidding. It goes on forever.
I'm curious what you think stops it? Are we going to run out of money? Is the dollar going to lose it's reserve status? Are we all switching to Bitcoin?
Only a civil war. That's all I can think of. And they are trying.
What will happen is we’ll all have no SS with bankruptcy but there will be trillions for wars and other corrupt countries to siphon our hard earned tax dollars.
Nothing happens, been screaming about the debt for 40 yrs. At $60 trillion we will still read the collapse comments. Everything is fake and fine
I'm in Canada and it is basically impossible for me to rent a room and own a car at the same time working a factory job being single i never even think of home ownership at this point :(.
I am no expert , but I say , pay your debt off and continue paying your rent . If you can , can you get a second job? or is it not possible? I keep telling people to start their parttime job on RUclips . Just make sure to have a good content . It starts out slow , but at least you are trying.
That is unreal. Prayers❤
OMG
Keep voting for Trudeau and Biden and things will suck forever
@@debbiec6216always the answer, get a 2nd job.
Lol.
Go try that at the age of 54 .
Debbie has no clue.
Burnout factor is a thing hon
In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
This is huge! Think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
Finding financial advisors like Natalie Noel Burns who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Natalie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I'm doing reasonably well. How? Being responsible.
Reasonably well ain't gonna cut it. They want you to "own nothing and be happy" too.
Agree with what our host says. Government needs to work smarter instead of increasing borrowing. No need for 87,000 new Jack-booted, gun-toting IRS agents. Jobs need to be created in the private sector
The last thing people should be doing is work for the government.
but if more tax money is taken in, there will be less money in the economy causing inflation. That is why the tax increases when Bill Clinton was President worked, the wealthy paid higher taxes and the dollar was weaker and manufacturing could compete better on world markets. Bill Clinton had the most jobs created during his Presidency.
They do need those 87k people because the internal REVENUE service wants to increase REVENUE
Hope your taxes are done right
😴
The amount of businesses started has decline (except during covid( because people don’t have money.
Keeping people broke is your companies way to keep you an employee, and stats say it’s working.
No competition? Prices can go up.
So strange. We have 107 people working at our lil factory. And EVERYONE is doing pretty good! All got raises the last 3 years. People actually laugh, talk and are friendly. Seem to be pretty positive. I guess most of us that are smart with their money and work for a good company are actually doing really good.
Doom sells, but it gets old fast. The only valuable thing is actual strategies for personal success.
This is a selection year, so I’d be surprised if anything terrible happens…I now believe 2025 is the year for a “black swan “ financial event.
And whoever is in office will be blamed for it.
As long as corporations and other nations are allowed to buy up property, it will continue to go up.
Chyna
Yep - home-purchases should be limited to private individuals, and, if there's a 'housing crisis', those should have to be citizens.
If corporations want to own residential property they should be invited to build apartment tower-blocks, for rentals.
Foreign investment in homes actually dropped by 9.3% or $53B in 2023
Option 4: Screw it. I'm done with all the crazy. I'll just buy a trailer and live like a hermit crab, carrying my home around with me wherever I feel like driving. 🤪
This is worse than 2008. The house market gave me quite a scare recently. A home is just not the best investment right now. Recently had to sell one of my homes in California, looking to invest about $400,000 of it in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
You'll be waiting a long time, trade the chart! learn how to create a basket of securities like an expert or seek guidance from an expert
Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 7years, I’ve had a financial advisor consistently restructure and diversify my portfolio and I’ve made over $3 million in gains… might not be a lot but i'm financially secure and that's fine by me.
@josephbush Who is the coach that advises you?
She goes by 'HEATHER LEE LARIONI'. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
We paid off our home almost two years ago. Today we would rent. A home is becoming a dream...
No way would I want one in CO. right now. People are trying to sell left and right because of property taxes. I counted 13 homes for sale on the way to the store 3 miles from home yesterday. Things cost too much anymore, something goes wrong ...if it's too much, yikes.
I'm so happy that a lot of people didn't like your comments about Poopy-pant's SOTU. It just means, you're doing your job, Michael.
Stacking cash and hoping this bubble bust that's all I got and I'm sticking with it. Don't care if it takes another 5-10 years I'm not paying these prices.
Same. I am the person who hates to overpay for anything.
Speaking of layoffs, my employer fired 1 person and has been cutting hours by 50% for 2 other employees and then hiring less experienced part timers.
You're right about not going anywhere. Just the turnpike costs from Tulsa to OKC and back is $50! Ridiculous.
They are using your Toll money to pay the state retired workers a lifetime pension. That's what they are not telling you
Awesome job, Michael. Love your channel. Keep up the great work!
In Canada 🇨🇦 it’s really bad carbon taxes is going higher
Trudeau is a dictator
vote your politicians out. get new ones who are against carbon taxes. canada never met a tax they didn't like.
We have many Canadians down here in beach SE Florida. They say the Canadian dollar exchange rate is $1.37 per one U$D
"Let the Planet Burn 🔥 I won't be here when it does"
There are these things that scrub the carbon dioxide from the atmosphere. They require no maintenance and last between 5 to 10 decades. Oh yeah, they are called trees. A carbon tax is just away for your socialist leaders to take your money.
Thank God i bought a house just after the 08 bubble burst..
Got a fixed intereste rate 4.75
Mortgage is $1,080 mo. 3 bed room house on 1/4 acre
Good stuff . I appreciate your time making this content
I agree about trying to get rid of excess debt. I just paid off 2 auto loans and zeroed out all credit card debt. Now I'm prepared for WHATEVER the economy is about to throw at us.
Good on you! I did the same.
@@josephjames259 Yesssiiirrr, good stuff! 👍
How about a job loss and $50 burgers?
@@hvaball150cut out the fast food.
@hvaball150 Good thing I don't have to worry about job loss since I'm Retired Military with a pretty nice military pension. I prefer to make my own burgers at home.
I loved your video on biden's economy you and me both know it sucks I've never seen America fall so fast in 3 years
I am doing great MAGA 🤡!
You are absolutely correct. It does seem like we are collectively making the viewer from Pensacola quite upset. It is unfortunate that we cannot have civil discourse without resorting to name calling. (Apologies once again to said viewer for the big words.)
Dallas Tx reported today that an individual needs income of $123,000 yr to afford average mortgage today. Sounds like they gonna needs alot of raises for peeps or they heading towards a dark place
I thoroughly enjoy your videos I think they're extremely informative and very helpful I have learned a lot I want to thank you very much please keep it up,.... I think that 99% of us thoroughly enjoy you
Boy do you tell it like it is ? You are the man! Plus a stand- up guy. Keep up the good work ❤
That’s the whole truth ! I’m a homeowner in California! Trust me, it’s hitting the fan !
Now you're talking. The spending has to stop. I'm 68, still working but very very worried about my children and grandchildren. If we don't get the national debt under control, we are sacrificing the future of the oncoming generations. People my age and older in power are making horrible decisions selfishly to make young people pay for the debt. Can you all imagine 90% of our GNP going just to pay the interest on 40 trillion. Vote for politicians hopefully younger who will not give out free money. Michael's advice is positive not negative because his plan will make your life better. I followed it for the last 40 years and am better off.
My guess: The average person that watches Michael's RUclips broadcasts is significantly smarter than the average American. Please continue mentioning to young people that Congress is the primary reason asset prices (stocks and real estate) have increased so much over the last few decades. So few Americans have taken Economics 101 and 102 courses. The extra money (US Govt. debt) in the economy eventually ends up in the hands of savers, homeowners, and business owners/stockholders. There is no easy way out of this terrible financial situation: US Government debt default, inflation, or austerity. The Social Security "Trust Fund" goes negative in 2035. The other US Government unfunded liabilities are over $120 trillion. US Government tax receipts in 2023 were about $6 trillion. The 2030s and 2040s decades is going to be financially difficult. Expect more social unrest too.
In research what you did is known as confirmation bias. 😂 You have been making the same claim for the past 4 years. Recessions happen every decade or so you aren't predicting anything outside of stating the fucking obvious
"This is the way the world ends
Not with a bang but a whimper." T.S. Eliiot, "The Hollow Men", 1925.
I am paying off my credit card debt fast, working loads of overtime. I'm starting to see Rome Crack again, we are the new Roman Empire set to fail
Look at houses in Florida. So many houses were sold in 2017 and then in 2023 those buyers doubled the price they paid in 2017. That's insanity. 💯
I see major forclosures coming in the state of Florida this year. Insurance and taxes are killing them
That’s how it is most places. Housing prices have easily doubled.
The listing homes are crawling up. However, the prices are still 30% over valued. Home owners list their prices 30% higher and then reduce 5%. The unemployment is the only catalyst to pop the bubble. The government keeps showing employment is strong and healthy with inflation “is still ~3%”.
I can't help but think it's due to the M2 money supply which has also increased by close to 30% since COVID. Perhaps the market does make sense.
So u want cheap houses no one will be able to buy?
Governments always fiddle the figures
They'll just play with the CPI numbers. Maybe include gig workers to the employment calculation. Work 4 jobs, bam! That's 4 people employed. Total 🤡🤡
@@jimmyjay689 price doesn’t matter, when the “money printers” are at work.
It really is very bad. I need to replace my 23 year old car and cannot get a loan I can afford anywhere.
save your money and you won't need a loan. don't borrow money for anything. if you don't have the cash don't buy it.
That’s a good example. Car repairs and new tires or car payments.
You're not alone I've got a 2015 Altima it's freaking needs a new engine 106,000 MI I'm retired and my income is not enough to get me into a car loan now
a good sign you dont need a new car
What kind of car do you have and why do you need to replace it?
Around 2006-2007 is when cars were no longer built to last.
Meh. I'm old (60) and have seen shit come and seen shit go. I'm actually enjoying the circus these days. Whatever. I'm not invested in it. It is a self correcting system.
Your content and the regularity of posting A++++
learn to enjoy reading for entertainment - you will never be bored and it's super cheap
I’m 53 and in debt and broke as hell. All they do is work. I’ve defaulted on credit cards and business is starting to pick up again, but it’s too damn late. All I can do is just keep working.
They’re trapped by the price, not the interest rate. Because if those people sell right now make a profit. Rent for awhile wait for the price to come down and then take that 200,000 or $300,000 cash that you got from the sell your house and be able to buy one cash. It wouldn’t be an issue. Doesn’t matter what the interest rate is. The prices are too high, it’s never gonna work
Come to Canada $200,000 - $300,000 is your down payment, not the mortgage, at least traditional mortgages are. The boon dock homes are California money up here. Its nuts and I don't know how sh** can go any higher. Its like 15-25 years average wages here to pay the principal, let alone the interest.
I’m doing that now. It’s a PITA though.
I can't take it anymore I am moving to Cambodia
Inflation was worse in the 70s, and mortgage rates were as high as 15% ....is this not correct?
Income to debt. Income to mortgage. Zero like the 70s
Prices were also much cheaper back then. Yes interest rates were high but you only needed 2-3 times the median income to afford a home. Now you need 7-9 times the median income to afford a home. The mortgage payment today is way higher than back then even at a 15% interest rate.
But in the 70s you could buy a house with a bag of potatoes.
Housing Goes in cycles and we are reaching the top of that cycle
Yes, all markets are cyclical, which is why the crash bros keep harping about the coming crash. Of course the market will go down at some point, but sitting on the sidelines and missing one of the biggest price runs in history only works out if it falls below that previous starting point.
Michigan has cheap cost of living and there are many beaches and the Great Lakes are like mini oceans
@@rynolonewolf I know I live here. Even with that it’s still way cheaper to live here than many places. I’m actually moving to Florida from Michigan but my family will stay here
I live in Ohio and life is still cheap but just remember one thing, when the West Coast runs out of fresh water the Great Lakes the region will be hot again
Zero Jobs
@@jimmyjay689 Detroit and flint is not all of Michigan. There are plenty of jobs. I’m trump 2024 and wish it was more conservative here but jobs aren’t a problem.
@@suntzu94 well my family is staying here. I’m 26 and want to go live in Florida for a few years but I can always come back
I've been a sahm for 11 years. My husband's single income has been able to support our family of five & he's never broken $100k annually. I have never felt poor - quite the contrary. Especially currently. Redefining wealth classes is about to make many heads spin.
As a small business owner, i always tell people that it costs me $300 to wake up every day
So what's the plan, sit around and complain until the prices come down?
I close on my first house in upstate SC in April. Good neighborhood, good property close to amenities for $115k. Its no wonder so many people are moving here.
What scares me is generally people here in this country is not used to hard life and have a high sense of entitlement and they might go bananas when things get hard/harder for them. A perspective from a person who live half of his life in a third world country. Feel lucky to have an option to go back to the old country and spend less than half of what we are spending now in los angeles.
Do yourself a big favour.
Buy yourself a big wide brimmed hat , a brim of at least 3 inches .
It will protect your face from the florida sun and in 15 yrs you'll look like you're 50 yrs old....and not 65.
Dark shades won't stop the sun beating up your skin
Where does that dude in SC live? I have the same conditions putting 20% in 401K through work and investing another 8K in Roth IRA and 8K in brokerage yearly off that same gross amount. Some areas must blow with HOA's etc...
Taking a year and a half to do a roof seems crazy. I had mine replaced late last year and I think it was less than two weeks between getting the estimate, signing the papers, and having the roof and gutters sorted out (different teams on different days).
It seems like that contractor just really didn't want to do that job or something.
1) stop watching social media & nonsense tv shows & news & talk shows. They're lying to you. Watch more shows like Michael.
2) Grow your own food. It's healthier, tastes much better & you'll save money!
3( Get out of Debt.. somehow, someway!
4) invest in gold & silver ( real money).
5) Be frugal, no matter what anybody thinks! Don't waste money!
6) Listen & learn from your elders. Experience teaches a lot!
7) Be thankful & count your blessings, so many have it worse you !!
It is no joke. I'm blessed to have an okay job and work remote. I'm paying off all credit card debts by this summer while still being able to put 10% of my pay in a HYSA while investing in stocks and REITs. I have cutback on going out and spending on non-essential things. Definitely no brand new phones or Teslas over here. Lol!
Saw this coming 3 years ago. Sold my Florida home awa my Canadian condo. Did 2 smart things afterwards. Invested heavily in BTC proxies (MSTR) and moved to Thailand. Standard of living is similar however cost of living is 1/4. Glad to hear you finally mentioning BTC…the best performing asset the last 12 years. I stay in touch with family/friends in both countries…they all say “things are getting worse”. Glad i found the “Land of Smiles”.
The majority of Americans bought the lie they were sold - that having a "good job" with a good income would make you middle class.
If you work for someone else you're a member of the working class - regardless of your income.
truest words ... but no one wants to believe that. Social mobility is a lie.
For the people with the "golden handcuffs": I'd sell the home now while it's still possible. Rent until the housing market returns to sanity. On metals: You will lose money due to dealer spread. But you'll probably lose less than many other assets. On the college student buying silver: Debt free before investments bruh! Do not buy anything you don't have the cash for, ESPECIALLY college, which is a waste of money for most people. Not only debt free, but debt free with at least 6 months of USD for bills, and 6 months of food and everything else you need. THEN invest. Michael- I agree 110% on the answer is higher rates, no more free handouts, let the depression happen for the long term good of the country. The workforce needs to shift to jobs that provide the essentials- food, energy, BASIC housing (simple shacks), and repair of existing things (IE mechanics and handymen).
There were sections on that street that was very photo optic. The greenery was absolutely lushes and delightful.
If you make 6 figures drive a good used Toyota Camery.
I’d take the Lexus.
Keep your eyes open… Your channel rocks!
We are finally giving up on renting. It is always uncertain from year to year. The rent keeps going up and the landlords seldom fix things well due to not wanting to spend money. We are having a home built. Yes, it is expensive, but at least then we will have more certainty. Job one all the time will be to make that payment on time and every quarter or so, pay a little extra. Not everyone's situation is the same. Rentals here are nearly what it costs to own a new home. I say buy a new home and work hard to keep it.
Renting is a lost cause.
Nothing printing a few trillion and farming it out to the banks to make corrections will not fix. Hell with what it does to middle class and inflation down the road .
Hold on now. Wants to sell his house and buy another cheaper in the same neighborhood?? Lots of luck with that. MY last mortgage 8-1/2%. Today no mortgage; no debt! Advice: make due with what you have.
Good Evening Michael, I agree with your data, it does represent the 80/20 rule.
As a handy/maintenance man in upstate ny I've seen a significant rise in calls for service. Without fail every customer is surprised I show up. There seems to fewer and fewer folks out there that want to do this kind of work.
Spend our way out of debt. Wow. Who knew?
It is so hard to listen to you lately because you really have an agenda and it's boring. So I turn u off. Also, there r just some things in life that r just plain relative😊
Sorry you feel that way. I have no agenda, though. I just report what I see happening in front of me.
A few years ago we nearly zeroed out. Once stabilized, we put $500/month into a 1 year CD, no rollover. Each year after, when the CD matured, we took that initial amount, added another $500 and opened another 1 year. Did this for 4 years.
When my wife was suddenly transferred on 3 weeks notice, we let those CD's lapse for a few months until we were situated - and it absolutely saved our butts. Not only did we still have her regular income, but the maturing CDs helped cover moving, suddenly needing a second car, setting up the new place, etc. We've since rebuilt those lapsed CDs, have a separate savings account just for moving, paid off the second car. But having the liquidity of a few grand a month saved our bacon - even if the rates were crap when we started.
How much did you start with?
How does CD roll over work? (I have a CD maturing at the end of the month)
Buying treasury bills is better. You’ll have at least 5% yield and some tax advantage over a CD.
@@mowtivatedmechanic1172 Sorry for the delay, life with kids...
Before maturity, you have to tell the bank that holds it what to do at maturity. Typically there are three options: cash out the entire balance to a regular checking or savings account you hold; have the interest accrued paid out to one of you accounts while the principal rolls over to a new term; or have the principal and accrued interest roll over.
@@Pencil-o1p The amounts aren't enough to really worry about taxes. With Capital One not having minimums, I've been able to build over time at a pace we can afford. Because we can access the maturity settings at any time, if we suddenly get transferred again, I can just change the ones coming up, and be assured we'll have X amount coming in monthly no matter what situation we wind up in.
We can come out of it when we start drilling again and become energy independent AGAIN !!! get the DemoRats out of office we were a whole lot better with Trump. And for those of you who don’t agree answer this ,,,, are you better now then you were 4 years ago under Trump !!!????
i watch every day and am subscribed, how did i miss this poll? lol i guess i dont pay attention enough
Wow! I went out yesterday and spent $100 on next to nothing! Hoping to just get through the next year!
Government may try to keep the economy from going to recession, but they will end up making things worse. Borrowing and printing money to stimulate the economy just makes inflation worse. At some point recession is unavoidable. When you hear the word deficit, that means the government is devaluing the dollar. So, prices go up. Vote out all incumbents.
If they never let it crash then salaries need to go up.
supply and demand fixes salaries
Bidens 2025 budget is 7.3 trillion. Cool. And my budget with my visa is 10 million.😂😂😂
Could you do some walks around nature reserves or hiking trails? Some of those trees just in normal neighborhoods are incredible!