This is a Crisis.
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- Опубликовано: 5 май 2021
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![TRASH or PASS! Eminem ( Houdini ) [REACTION!!!]](http://i.ytimg.com/vi/cB1WrZcMwMc/mqdefault.jpg)
I love how Linus has got to a point where if something annoys him, he just speaks about it. Nice to hear the uncensored opinions
He always did that
Too bad he's completely ignorant of the issues here. He's so close to getting it, but on both topics he just misses
When has that not been the case? He's a blabber mouth lmao
@@vorbo01 where and how? Constructive criticism my dude, not just criticism 😉
Well he is 78 years old, Canadian. Ranting off key is what keeps him alive.
"My kids aren't going anywhere unless they want to." Linus is a great dad
More like anyone who thinks otherwise is completely out of their mind.
Then again, kids make stupid decisions that are very hard to take back, so often the parents really do know better.
@@NatiiixLP On the hand yes- but sometimes letting them make mistakes is fine and a great learning experience. Of course, you have to teach them how to deal with them properly.
He's also rich
It's just an unfortunate reality of living in the Lower Mainland. I'm lucky, I'm a home owner, I'm in a tiny townhouse even though my wife and I make good money but that's just the reality of living here. Our kid though? If prices keep going up like this? She's not going to be able to afford anything and yeah, she can stay with us as long as she wants to as well because what's the other choice?
We have a education fund for her already set up but who knows if it'll be enough to pay for her college or university when she gets that old.
@@Alphabet7 but he worked for it
"overpopulation"
bro there's probably more people playing fortnite right now than the entire population of canada
26.5% of Canadas population is in just 2 metropolitan areas like Montreal & Toronto - it 100% is overpopulation related, but not entirely, it's a multi faceted issue..
Overpopulation is not an issue in Canada it's the flooding of the job market that is
@@freedomiseverything2767 Which clearly correlates to overpopulation of highly educated people? lol..
@@3rd.world.eliteAJ not just that but low educated people too job market in general in Canada is just massively oversaturated
As well as our manufacturing jobs have pretty much all been out short to China since 1980 which now has come back to bite Us in the ass especially on the drug part
Another thing we have done is we're starting to shut down our resources especially oil it's also increases further unemployment which also put this in a serious strategic disadvantage if there was ever a war
Now with the fact that we have walk down for this beer bug printed out 3/4 of our money supply unfortunately this will help the negative effect of devaluing our money at least the same amount this should take about a 2-year period for it to catch up to us. This unfortunately it's going to hurt a lot of people in Canada because a lot of people do not have quite enough money yet to invest into assets quite yet such as housing gold silver oil so on so forth they're essentially stealing their savings by printing out money!!
Also this beer bug has shut down a lot of these businesses too which causes more unemployment and moreover saturation of the job market.
Pretty much nearly all of our politicians and nearly all of our political parties do not care about this fact they're firmly in the pockets of major corporations and special interest groups!!!
In order to fix Canada and bring back prosperity we must stop all foreign investments in the housing market!
Bring back all manufacturing into Canada!
As well as stop almost all immigration be landed or permanent to stop the saturation of the job market
@@3rd.world.eliteAJ yeah another thing is to consider to that is that the cities are over represented in Parliament last time the conservatives won the majority vote but lost
There is a big divide between rural mentality and urban mentality
The people in the city want to regulate everything but have no idea how it is living without having the corner store around the corner or actually having to go out or hunt or fish for your food nor do they have the concept of dealing with predators or pests eating your livestock or devouring your crops nor do they understand that it is impossible to properly police these areas therefore the individual out there must be armed to defend his property and his life as well as his friends and family nor do they seem to understand that police may be 8 hours away from helping you if not longer same thing with other services such as healthcare and fire and ambulance.
Already up in rural areas they're calling people from the Cityidiots the city it's they've been doing that for over 20 years The divide between rural and urban has never been larger and are points of view are growing further and further and further from apart for example in my area I have to pay for Toronto's Transit in my gas taxes but we don't even have a transit system of her own we also have to pay carbon taxes and I guarantee I take more carbon out of the air then I produce another thing the government also wants to take away our legally acquired firearms when they were never an issue to begin with because somebody in the city had problems with them but we need that to do our jobs I don't want to leave poison bade out which is my best next alternative that will kill everything including the animals that I don't want to kill like foxes bobcats lynx and wolverine that are not an issue to begin with unfortunately this will cause the rodent population to go way up causing me to lose even more money and need to happen to poison even more stuff that now is a danger to the animals that I am farming. As well as this firearms restriction will also harm the trappers as well as the natives that want to continue their traditional life!
And when I bring this up to people that are in the cities they tell me that they do not care and my response to that is the cities need the rural areas but the rural areas don't need the cities our country is falling apart you can see it happening on TV especially when they're tearing down our statues insulting and disrespecting our servicemen and women as well as the federal government refusing to pay for their prosthetic limbs I don't know man I don't think we should be a country anymore if we continue down this path The divide is too much I say we draw a new border around the cities making themselves their own city-states and leaving the rural people to their own and we can see what happens
As a person who just turned 18, seeing these problems in the world that I am going to have to face, I can’t help but feel like my generation is utterly screwed from the gate.
Not just your generation, like Linus eluded to it’s really any one born after the generation that shall not be named.
You will be ok. The reality and something they kind of hinted at is the benefits of home ownership are not a great as they used to be. You used to be able to buy a house with pocket lint and a hand shake, but to own a home now the cost is pretty high or something you just sleep in. Rent is comparable to home ownership maybe even cheaper. If you factor maintenance to a home, taxes, up keep like mowing the grass, etc. When you rent and something breaks you just call the landlord and start complaining and it's fixed. Plus with telecommuting to work becoming a norm. People are moving to cheaper areas which is gonna spread the load out and like they are saying if the housing market bubble bursts then people that buy homes at its current value are stuck in those homes. As an idea we are at an all time low for interest rates which causes people to buy. When they hike those rates up people will stop buying. Market bursts sit back and watch the world burn again.
I feel the exact same way as you, and im 18. Damn the world we live in right now feels kinda shitty sometimes dont ya think?
And apparently we're supposed to be the generation to save the world from the mistakes of our predecessor like you know climate change and war and presumingly the economy, real hard to fix the screw ups of previous generations when we are being directly impacted by said screw ups
@Professional shit poster 1. Name fits.
2. Not everyone (in fact most people aren't) is capable of running a business.
3. Most small businesses die a quick death after a year or two chasing this dream. Not all those who fail are incapable, maybe it is just sheer bad luck that took them out.
You made a risky decision that worked out so far, but you have fallen to the survivorship bias, you survived so "everyone will". That's not how reality works, facts are that most people won't succeed at what you did, a lot of them just end up in an even worse position than they started. It won't just "get there", people trying it need mental strength, financial reserves to start a business, a lot of luck and good people skills. I know for a fact I would fail at starting a business.
When I went to University your minimum wage summer job paid for your tuition and working weekends paid for your rent. You had no debt as long as you visited the student food bank. Now you have to make $26.50 per hour in your summer job.
Depends on where you live. Where I live if you make around $12-$13 an hour and have a B average in your classes (and if you graduated in state) you would only be paying an extra $2,000 for tuition. If your family is “poor” enough (tax wise) you can actually get paid to go to the local university. I started going to the local university a few years ago when it was $7,000 a year in tuition, now it’s around $8,500 for instate students.
When I went, I got grants from the state that fully covered tuition and gave me something like $1300 as a "living expense" per semester which damn near was all the money I needed in a given semester. Ahhh those were the good ol' days. Loans? bah! even before I got grants it was less than $1k per semester as a full time student.
I live in the uk, but I’m going to university next year at 22. I make £9.50 an hour, a good ish wage, and I’ll have to work 30 hours a week in addition to studying to make ends meet. That’s with the £15,000 a year I’m loaning from the government. It’s not fair.
I shouldn’t have to mix studying and working 8am-11pm every day just to not starve.
@@kieranwalkerkw When I graduated high school I had a "no skills" minimum wage job, it paid $4.25/hr, and that was the federal minimum wage before any local increases to make it "fair". Currently the federal minimum wage is is $7.25/hr 1.7x that. Now just to give some sense of time, that was around 30 years ago. Education has increased VASTLY more than that, housing has dwarfed even the education increase. Things just are not fair.
Now I'm not saying the minimum wage needs to be increased, because yeah that just makes everything more expensive, but maybe the high end needs to be somehow forced down? Then you start getting people complaining "You cant tell me how much I can sell stuff for"
@@Mike__B The rent is, in fact, too damn high.
Dutch person here, we have the same crap going on. Previous generation got housing easily and now we're told we won't even get the chance to get a single room appartment until our 30's, and this isn't even in a city. Housing should be housing, not another investing toy.
Shame there's no emoji with square glasses to put here.
There is a great one hour talk by Lord David Willetts on this economic discrepancy, which he calls "the pinch". He clearly lays out the numbers on what went wrong, and really makes you see how utterly screwed later generations are, compared to their parents. He discusses the UK, but this phenomena is universal in the developed world.
The commodification of housing is one of the worst decisions that humanity has ever made.
I get what you are trying to say, but you don't understand the bigger picture here. People invest because they are forced to. What forces people to invest? Central banks and their money printing machines. All governments across the world use fiat currency which is backed by nothing. Creating more money is extremely easy for governments and central banks because they can just print as much of it as they want. Printing more money however simply devalues all previous currency valuations which in turn causes the currency to lose purchasing power and for prices to increase. The true definition of inflation is an increase in the money supply, NOT rising prices. Rising prices are merely a symptom of a money printing expansion. You will never learn this either in government ran public schools, because if the vast majority of people understood this, we would all be storming our central banks with pitch forks and throwing the money printers out of their building so we don't have to worry about our money constantly losing value. If you don't invest your wages and savings erode in value thanks to expanding the money supply. This is why people are forced to invest, not to make money but to keep the same money they currently have. This is all about cause and effect and you failed to understand the true cause. Hopefully now you know and will look into what I said further to properly educate yourself and take action. If you don't invest you will only punish yourself and your immediate family thanks to inflation (an expansion of the money supply).
Also the Covid-19 pandemic has created huge demand and low supply for lumber so lumber prices are going through the roof right now. This is also a major reason why home prices have been increasing during the pandemic. Prices exist because scarcity exists. All prices are derived from supply versus demand. Money has it's own valuation dynamics as well. So like with oil during the pandemic, demand fell off a cliff and supply started to stockpile so gas prices plummeted for awhile during lockdowns. Now that these restrictions are being lifted, demand for oil is increasing and supply is falling so prices are increasing. Then you also have the dynamics of your nation's currency and how much your currency is worth. These two factors combined make it confusing for many people to understand why prices go up or down. You have the value of money versus the supply and demand valuations of goods and services. I just taught you economics 101 in 2 posts. Economics is very easy to understand once you understand what gives money value and why we use money. Also once you fully grasp supply versus demand you will become a competent investor.
I went to college for 1 semester, saw my bill, and dropped out. Proceeded to go to an electrical job, getting my Journeyman's license. I'm gonna get out with a 80K a year guaranteed pay, and no college debt. Dear god I don't understand how people are able to support themselves, its such a struggle. To those in college, go get 'em, and good luck with schooling, I know how tough it is.
And to the point you should have made, please drop out unless you know your degree is something you absolutely need. Plumbers live next to me in my neighborhood and I am officially "upper class" by US income. I went to college on academic scholarship so came out with no debt--college was my full-time job, aside from the jobs I had while I was there so I could eat. If you can't get out debt free or with an MD / JD / MBA from an elite college, you need to make sure this is the right thing for you. If you're in college to party and to experience life, then you deserve your crippling debt.
@@britking that is so well said I wish I could like it a million more times!
Right now I am majoring in criminal justice, ideally this would land me some government job paying at least $50k USD a year, but realistically I'll probably make closer to $30k before tax, and loan payments. I have been honestly debating on just becoming a truck driver, even though autonomous trucks are on the way I think I can make a decent living in the next 7-8 years before doing something else in life. School is just extremely expensive and not worth it unless you are majoring in a STEM degree.
@@-SP. STEM still isn’t easy. It’s hyper competitive, and you really get screwed over if you can’t keep up with everyone else. I know some buddies who got out of college and couldn’t find a Mechanical Engineering job, or a Aerospace Engineering job despite what they were promised.
@@AlexDenton0451 Yeah I agree. Apparently only 27% college graduates find jobs in their field, which is shocking.
I really like Linus as a CEO. He's really human you know. It feels like he acknowledges the fact that he has the money that many others don't but he also cares about everyone. I respect that because I wouldn't see another CEO being like him.
at my company, the CEO is the same way - but he grew up poor
The only real difference is that he isn't detached. He knows what it is like to not have money and knows he got where he is with a large helping of luck. He also isn't that wealthy compared to the people that set up the roadblocks.
@@SirNarax So true. Say having 20 million dollars is nothing compared to 200 billion. :) But still, Linus is pretty down to Earth, and we need more guys like him.
This is spot on. My wife and I are currently looking to buy a house in the US, we sold about 10 months ago and have had a tough time even winning a bid on any property. We have watched the price of homes go up on average $10,000 a month and if we don't secure a house soon we will be perpetually renting - which is nearly impossible to rent with 3 kids, a dog and 2 cats on one income. I hate it so much and it is infuriating.
Yep, and those bids are crazy bids too. Way over asking and no inspections, cash offers. You can't buy a fixer upper anymore because all the HGTV losers flip houses.
I wouldn't say never, the housing market will crash again, some say as soon as a year or 2.
how the hell did you survive before?... 1 income, 3 KIDS, A DOG AND 2 CATS..... tf man
@@kh8655 I owned a house and had three kids while living there. Mortgage rates are cheaper than rent, and I didn't need to pay extra rent for each animal
For clarification, my wife had the kids. I just watched.
When I bought my house, my realtor said to me, "I believe buying a house is the most fundamental means to building personal wealth." I remember being puzzled by that. I was thinking, "yay! I'll have a place to live, I can do whatever I want to it without having to ask for someone's permission, and I can watch movies at midnight without worrying about it being too loud." He was thinking, "this is how you raise your net worth." That has always stuck with me as noteworthy.
This is exactly the problem, somewhere along the way, housing became a retirement fund
No, it is more like "you aren't throwing your money away on rent anymore"
For me a home is where I live. It (hopefully) keeps the weather off me. I sleep and eat there. My possessions are there. I'm lucky in that I bought my home back in 1992. Paid around $37k US for it. Cash. It's admittedly little more than a glorified shack, but I need no more. And yes, owning it has allowed me to survive on a relatively low income. As thin as its walls are, and small as the yard is, I do still have to worry about 'being too loud', especially now that my hearing is pretty shot so that I need to play things at higher than normal volumes.
Lol someone can prevent you from doing shit with it. It’s called city planning and ordinance that also creeps into residential permits and etc. It’s all bullshit.
to be fair, the whole point of being a realtor is to pitch a house sale to you, and making you believe house-buying is a good investment is the first and final step of their job. You buying a house is good *for the realtor* . It's like a blacksmith who's telling you that high quality swords aren't just good weapons, they're also a good thing to invest in... well no shit he's gonna say that.
My mom is a realtor and even though it may hurt her in the short term, I too am rooting for a housing bubble to pop
at least where i live the housing bubble is powered by foreign speculators who buy up property hoping to flip it for a quick profit in a year or two. of course the demand side doesn't have endless money so this bubble will eventually pop when they price *everyone* out of it. it's basically GPU scalping but on a much larger scale.
@@oldfrend isn't it crazy how people are allowed to just flood in, use universities, buy up tons of property and then dip out and collect money. Our governments just allow this to happen.
@@oldfrend Canada?
"Patrolling the Housing Market almost makes me wish for 2008. ."
This post reminds me of something but I can't quite remember what it is.
@@deusexaethera fallout new Vegas NCR troopers?
What a lovely shock of interests, GroundGame.
New Vegas and the housing bubble
My parents didnt believe me untill i told them to help me to find a house they could afford in south florida. They couldnt and they dont know how anyone who isnt a doctor or exec could its like that everywhere its gross and depressing that me my cousins and my siblings will in most cases never own a home
Yeah my parents bought their house for 150k like 18 years ago. They got mad I moved 45 mins away and bought a nice house for 227k because a crappy house in their city cost 300k+. I told my dad to find me a quality house under 240k within 30 mins. He couldn't either and shut up.
@@bobhanson1037 That's called supply and demand. There is clearly less demand where you bought your house.
@@TheBigBentley911 yeah no shit. My point is in 18 years the price of suburb houses went up around 100% vs going 45 mins to an hour out in an rural area to find "affordable" housing. Then to add that in 2 years I could sell my house and gain 30-40k. That's a bigger issue than just supply v demand.
I'm lucky. My parents gifted their house to me (well, on paper they sold it to me but they paid so....) so that I don't have to pay inheritance tax. It may seem like nothing. But since inheritance tax is proportional to the value, and the price of houses is so deamn high, I wouldn't even be able to afford inheriting my parents' home any more.
They contractually have lifelong right to stay in the house. Not that I'd kick them out, but rather in case something unexpected happens and I am so deep in dept that I'd need to sell.
So I'm officially a house owner now and my net worth is around 600k. Still, I myself rent a small apartment and still struggle to pay for food at the end of the month, literally lived a whole week off of cereals in april.
@@bobhanson1037 things can change a whole lot faster than that. I 4 years my parents place increased from 300k to 800k. My house increased from 435k to 550k in the first year
My wife and I put an offer on a 1240 sqr ft house and it ended up going up to 800K. 200K over asking price its like I need to become Walter White just to buy a house in the suburbs.
I'm moving to Saguenay where it's there some cheap houses while still having somewhat of an economy around. Quebec city isn't bad but it'll reach Montreal suburb levels in a few years
Move to Phoenix. Yes, it's possibly the hottest real estate in the country, but you could get a new 3500 sq foot home for $600K in an incredibly nice and safe area. I left one state where I got priced out of my area by damn Californian transplants and love Phoenix (not the city itself but the suburbs are great). Though houses that sold for $400K 3 years ago are now going for $600K... so everything is moving up.
UPDATE: Finally bought a house 1230 sqr ft this time it only went 30K over asking but 60K under budget!
@@spencergellner5471 glad you found one.
I hate that this is never talked about despite it being such a huge problem, feels like "screw you guys, I got mine! Good luck!"
When my car breaks down I'm going to starve to death.
Part of the problem is that young people don't vote to the same extent as older people so politicians can largely get away with ignoring their problems.
man that one line perfectly explained everything wrong with our society
@@sumitshresth
Nah, it just explained everything wrong with our economy. Society is a different problem
@@faarsight There will never be a political party that would campaign on that as a policy. It would require measures that would result in homeowners taking a hit on their equity and I can't see that ever happening. It would be suicide for whoever tried it.
@@dtt-nm8wv Uh did you comment on the wrong comment? I didn't say anything about a policy.
It's easy to forget when Linus is duct taping a car radiator to the top of a PC case that he's really got his sh1t together and understands some of the more important stuff far better than most people do.
I paid for college with no loans, but then again each semester cost me $2,600
Funny enough that is the cost of a semester in my country right now
Dang where are you going that's a steal
@@ottoernst3735 thats the price of lots of colleges (at least algonquin in ottawa). University is where you jump up to the 5-7k mark
i know when i went to StFX it was about 9-10k a year
@@ottoernst3735 a couple years ago community colleges were around $4,000 a year in Idaho. Universities were $7,000 a few years ago and it’s now $8,500 a year.
Edit: those tuition amounts are for in state students.
The biggest reason for why education costs have skyrocketed(in the US at least), is guaranteed loans backed by the government. You want to get education to go back to same prices? End government loans.
I'm 50 and I have a really good job. But I still cannot afford a house where I work. So I rent.
@Ataru Moroboshi 50 years old with an anime profile picture? Respect
That's nuts man. lumber prices are definitely not helping out either.
@@WatamelonUberSheep well the anime that's from is from the 80's so makes sense
Even in the present market, I could buy a second home by myself... so either your pay is not as good as you think, or you need to get out of Victoria/Toronto/Vancouver.
Bet the price of a mortgage where you live is about the same cost or less than your rent. Most people just cant save for the down payment tho. If you live in a really really big city your kind of screwed tho but its been like that since the 90's
Me: *Looks at a graduate/entry level engineering position*
The Position: "Must have a masters and 5 years relavent experience"
Me: Excuse me what???
Yea that's considered a standard entry level position now, pretty easy to get. Are you just lazy?
@@Localpref416 Man I'd love to live in the world you do where you can apparently easily get a job that requires 5 years experience and a masters, when you only have a bachelors and no experience (I am studying my masters though but still). I can understand 5 years as a "nice to have" for an entry level graduate position, but a "must" is surely absurd.
The position: paychecks are $15 and some free screws.
@@Localpref416 yeah,totally! All you have to do is live for 5 years working two jobs with little to no income while also having millions in student debt. Totally doable!
@@ambientlightofdarknesss4245 Easy! just don't be lazy :D
Trying to not feel demoralized looking at homes in your range by telling yourself "Yeah the cabinets are completely rotted out, the floor is trashed, that wall looks like it could be knocked over by a stiff breeze, but at least the toilets work."
I would buy a shed from lowes.
When my parent bought their house in a California Bay Area suburb in 2001 they paid 545,000. They where told they overpaid for it. In the last month 4 of our neighbors have moved and the houses have sold for anywhere between 1.3- 2.1 Million. They have the same floor plan as my parents house. If I want to move out of my parents house before I’m 30, I’ll have to move out of state, away from literally everyone I know and all of my family.
I live in CT and we are in the same boat. We bought a small/modest first home using an FHA loan but now that we have kids, we need a larger home and we simply can’t afford it in this state. So, our goal is to sell this one and head south to a more affordable state.
@@deadli-us Just don't bring the policies that caused these insane prices with you.
@@michaelwillman5342 Never voted for a Democrat in my life and I don’t intend to. That’s another reason I want out of here. My vote means nothing.
That is insane that the value difference of the same floorplan house varied by 800k in literally the same area.
Also, if your parents sold you could all move out of state and buy a house and have 500k left over most likely lmao.
@@deadli-us
This is caused by poorly/unregulated captalism, not by a specific political party...
Besides there is only one kind of party in the US, the party for the rich and corporations, there are just 2 versions of it.
Jobs be requiring masters degrees and 10 years of experience and only pay like 15 dollars.
Exactly i saw government positions that pay between 40k to 60k in the us require masters degrees. i was like are you kidding me
I love these claims, because I'm making above median income with GED in an analyst position that requires a bachelors degree; while both of my boss' positions require masters degrees, but one has a bachelors and the other a high-school diploma (and at least one of her employees has a BSci and an MBA)... it's really only really government(union) jobs that are standing by the mandatory minimum degrees requirements these days!
@@Wongseifu548 I am majoring in criminal justice which would land me a government job but the amount of additional schooling and experience required just makes it out of reach. Honestly thinking of dropping out
@@BruceDoesStuff Wow so you think the world revolves around what's directly going on around you? Obviously not every scenario is going to apply to everyone
@@-SP. not only did I not say that at all; but the fact that (per the comment above) you're taking a basically useless degree that can only land you a job either in government or teaching said program pretty much validates my assumptions about you and your choice to respond to my comment with nothing more than some kind of Courtier's Reply/Appeal to Ridicule blend of a Red Herring logical fallacy.
Linus talking about NIMBYISM, housing policy and zoning laws is an alarming collision of all of my interests at once and is *exactly* what I’ve always wanted.
Yes. I’m agree. This is arguably the most important issue of our time, barring nukes and environmental issues.
Toobased Linus is rare but very much appreciated when they appear lmao
I always wanted to have kids and a family since I was very young. Now I'm in my early thirties and I have completely abandoned the idea because I can't imagine supporting a family on my income.
My partner and I have been house hunting and with that looking at our finances and we only recently discovered that even without the costs of a mortgage and utility bills we would be lucky to afford childcare bills for just mornings with what we make based on the cheapest available options where we live (and we are _not_ minimum wage, unskilled labour workers either: we're both in stable, skilled professions).
We went to university, we did all the things we were told to do by society and we don't want the finest of everything. We have literally been working towards this for about 13 years and we just found out we have been _priced out_ of having kids. The mortgage is actually the least of it!
Fun fact: Canada and Tokyo metropolitan area have about the same population so yeah it's not overpopulated.
And Canada's habitable land is about the same size as the Tokyo Metropolitan Area. Zing!
And yet our house prices have risen more in the last 20years than anywhere else in the world. FeelsGoodMan.
Canada has the same real estate problems as the US, whereas besides cultural size differences in Tokyo. Tokyo has vastly different services and infrastructure that make North America look like an utter joke.
Even functional pricing hurts, if we had the transport situation of Tokyo, downtown housing wouldn't be as insane. Here in Massachusetts, right off a main highway exit outside of Boston, sandwiched next to a trucking warehouse, are homes going for nearly a million....simply because they're next to an on-ramp that's a straight shot into Boston.
@@yoyoyo761 my parents appartment, bought five years ago for 100k has had a groth in value of 20% in just 6 month, after they bought it and we are outside of the big metropols
Fun fact: Price per sq ft for a condo in Toronto is 1038 CAD and price per sq ft for a condo in downtown Tokyo is 1338 CAD. So even with massively more land per person in Toronto, we are almost paying as much for housing as in Tokyo (78%).
This is why I love Linus. Not because of the tech, because he's a man of morals and integrity. I only wish I had experience in an appropriate field to work for him. I can't imagine someone I'd rather give my sweat for!
The nicehash sponsored video still being online despite him learning how its owned by a huge cybercriminal kind of broke that illusion for me. Even Linus has a price it seems.
@@haaspaas2 And employees to pay.
@@acmethunder I feel like that's the more important factor here. Plus, LTT as a channel go more so off what the general community think is right, and from what I remember, the Nicehash situation was middling for the general community, so they settled on the compromise of keeping that up but doing no further work with them, which seems reasonable imo
Don’t park your car near him lol.
@@haaspaas2 ever heard of second chances?
Preach Linus. Living in Toronto, my folks $500k home has appreciated 4x in 13 years. It's bonkers. I still live at home because it's also stupidly expensive to rent.
I'm from Central America, and me and most of my friends still live with our parents in our early 30's. My parents don't even have a highschool degree and this house was like $5000 around 20 years ago, no joke. Now I have a Bachelor's degree and can't afford a house without getting into a 30 year debt that would take more than half my salary each month.
I graduated last May with a Master's Degree in Strategic Communications with a 3.96 GPA. I'm still unemployed, and no matter where or what I apply for, I am either overqualified or don't have the work experience. Luckily I have parents who like me and minimal loans. I was born in 1996.
I know that life born 95 graduated in 2017 2018 no prospect for work outside of contracts despite having a decent business degree
Wait "overqualified" That's a thing??!?!
@@jasonz8635 Yes it is when you have a graduate degree and you trying to get an entry-level job
.
@@jasonz8635 Yes it is. That's why it is so hard to find a non-academic job with a Phd... You either don't have enough experience or are overqualified.
damn thats shitty
I love that you guys are talking about this, this is an important issue and you guys shedding light on this helps.
Neo-Liberalism
Not when it's an ignorant hot take.
@@modred189 how old are you?
Shedding light, every Canadian is somewhat aware of this. Older generations love seeing their houses go up, but then realize their kids can't afford shit
@@modred189 could you explain why you think it's an ignorant hot take? I thought it had a lot of logic and reasoning behind it personally.
“What kind of fantasy did you live in?”
“It’s called the 80s look.”
This exchange was so stellar
My grandmother died in 2016. We sold her house for around $100k. When we were going through her old stuff, we found the original purchase documents from the 50s. She and her husband paid $7400 for that house.
That’s almost entirely inflation tho
7:52 As a Canadian, I do care. We're heading straight into a brick wall at 100 km/h and our governments don't f*cking care.
Same here in the states. Only difference is ours is actively pushing the gas with the express goal of hitting it at the speed of sound.
It's almost like having your politicians almost automatically be set for life, makes them unconcerned with improving the system.
ontario here yeah 100% man the future seems terrifying and on top that government like buddy ol pal doug ford don’t seem like they’ll be helping much.
Politicians be like: "I got mine...and also got my defined benefit pension lol. gg ez get wrekd millenials"
The issue is that the government is focusing on keeping people in their houses and not fixing the problems that are keeping people out of the market. Because they have been doing things like lowering interest rates, forcing new home buyers to buy and insurance policy that is proportionate to the cost of the house that doesn't get returned to the purchaser to prevent banks from going under, allowing banks to give out stupid mortgages. That 26% figure Luke gave out is only an average as well small towns are going crazy expensive this year due to people being able to move out of the city, I bought a semi built in 1968 in a small town in the Waterloo region August of 2019 for 360k and a couple of months ago people (who I presume are WFH) started moving here on mass and buying all the houses that were for sale and now semis identical to mine in this area are going for 600k +, its just insanity.
Honestly we are close to the point (or already passed it) in Canada where there are no more good solutions and the whole system is just going to crash and force everyone who over extended themselves out of the market anyway. I only hope that our public housing catches up before that inevitably happens or we will have a boom in our in the homeless population.
Vancouver/Surrey Realtor here. I know how fucked up this all is and it's heartbreaking to do my job right now. No professional Realtors who love their job like this, it's agonizing. Millennial who makes 6 figure income and will have a HARD TIME ever owning in spite of that. :(
Agreed.
New West resident here. I earn (just) 6 figures, she earns higher 5 figures. We have a child. We had a few years of not great income, so don't have a massive downpayment at the ready, and even then it is scary. If we saved up 10k/year to put to a downpayment, the increase in RE value is still higher. And it has been for almost a decade now (let alone this last year).
Born in the early 80s. What used to be called gen Y. I work in tech, and came out of college the year the .com crash occurred. When tech salaries took a massive nosedive and all the layoffs occurred. Got a good job, Dow Jones market tank killed that company.
The only thing currently keeping me anywhere near Vancouver right now is work (which after both of us working from home for over year now might allow for more remote) and good internet (they really need better internet in the interior).
Oh, and I was born here. Born and raised in YVR.
@@TenkawaBC it's so hard, I am very early 90s, about to crest into my 30s. I rent in New Westminster as well. Many people my age who DO end up buying often do so with 20% + down payments not out of necessity but our of this fear we all have after living through the 08 crash. Unfortunately wages haven't kept up, and cost of living is insane. If people aren't saving 50k+ a year it's hard to imagine catching up to the market. I feel you.
My parents bought their 1,900 square foot house, new, with their 3 kids, for $35k in 1972, off the single income of my dad whom didn't even graduate from high school. And today it's worth $1.2 million. Crazy talk.
Edit: Oh, and it's in California, so their property taxes are something like $1800/year.
$1800 or $18000? I’m in the Midwest and my property taxes are $3500/year
@@railerswim $1800. If they bought it for $1.2 million today, it would be around $15k/year. But California's prop 13 limits how fast your property taxes can raise. It's just another reason that existing residents don't care about inflated housing prices.
@@railerswim California's Prop 13 limits property tax inflation to something like 3% per year or 1% the value of the house, whichever is greater. The catch is, the value of the house is only calculated if you are going to refinance or sell the house, otherwise, it's the 3% rule (It may not be 3%, but it's something like that). My grandfather owned a house in the Bay Area and when he died, his house was valued at $2.5 Million. His property tax was $1,900/yr. He also bought it in the 70s.
This is also a big reason why wealthy people used to buy summer homes in California, the property tax is basically nothing. That loophole was closed a couple years ago, so only actual California residents benefit from the low tax rates.
I enjoyed listening to Linus' point of view on this.. wouldnt mind a non tech related podcast where Linus just talks about serious current events. Heck, I'd probably re-sub to floatplane for it if it was exclusive to floatplane!
Next Linus creates the VAZ (verified actual zoomer) program where he buys houses from boomers and resells them to zoomers at a reasonable price
Better would be starting a housing construction company, and just building smaller & cheaper houses. Housing developers are just building very expensive houses these days, because they can use various "premium" features to mark up houses _much_ more than that "premium" feature costs- and that mark up usually is based on the square footage of the house (even if it's a fixed-size feature like a jacuzzi), so they'll ratchet up the size of the house too.
tbh its not the boomer's fault that property value goes up at all. In many areas, property value goes up because there is a high demand but low supply of property. In New York City, there is literally no land to build new houses on, and everyone is building apartments, which means any actual house that's there goes up in value. I know of this one house that's probably around 3000 square feet and is worth over 1 million in New York, yet in McKinney Texas its worth around 300k which is actually quite high for a Texas suburban city. If you go out into the rural areas, you could easily purchase a 6000 square foot house for 300k, hell probably less. Its all about supply and demand, and in many Canadian cities, the demand is very high but the supply is very low. Than there is the fact construction material costs have sky rocketed because of the long ass quarantine in many areas, making building a house even more expensive.
@@PilotTed you should watch Louis Rossman talk about the new York real estate market. It's not population driven at all, it's investor driven.
In a way its the millennials fault for causing this market
@@PilotTed There is absolutely no lack of housing in Canada except for remote and/or poor communities. We're constantly developing, but very slowly growing in population. It is entirely on the heads of investors, not market demand. Properties even in undesirable locations are massively overvalued. Barely anyone sells, they just hold on to their properties and rent them out while they watch the value rise and make cash hand over fist, because mortgage payments for the price they bought the home for are often 1/2 or 1/3 what they make in rent. Fiscally being a landlord is one of the best investments you can make, morally it's fucking disgusting.
in Poland in recent 10 years, apartment cost went from 80 000PLN to 430 000PLN (40sqm)
Same in the States. Average house prices in my area went from 300k to over 1-2 million in 20 years
@@QuixoticPenguin 40sqm in USA is considered a room though, not an apartment.
@@VFPn96kQT A small apartment is around that size. I live in a 2 bedroom apartment that is around 40sqm (430sqf).
Stayed at home, went to community college full time for engineering, got a 30 hour internship throughout for $24/hour. Required me to stay an extra semester longer but graduated debt free in 2018 born 1996. The degree cost $45,000. I don't/nor would I ever elect to live in a metropolitan area more that 70,000 population, this issue seems to be isolated to those areas.
In my areas a 2,500 sqft / .25 acres goes for $200,000. The average income in my area is $50,000. With working remotely, there is no real requirement for many people to live in a city. This will help drive down the cost of urban homes and raise the price of suburbs/rural. Especially with fiber internet becoming available in rural communities.
As long as homeowners aren't given bailouts, the market will crash and correct itself in the near future.
I got a random text to my cell phone asking to buy my house at above market value.
It's nuts right now.
Yes, because there is too many people. People are literally fighting over houses.
I have been looking for a house for almost 2 years. I make just over 100k and can’t afford a 2 bedroom home in the city I live in.
What city do you live in
That's crazy. I'd say move but that's not really realistic for many people. Gl hope you find something reasonable.
Whaaat!?
I call BS. Unless it's San Fran, Seattle, or NY, that's just not a thing, and even then, just commute.
@@modred189 Or if the person doesn't know how to save money... Don't go out to eat, don't go to concerts, whatever... Saving money for a mortgage is a choice.
"I want my kids to be able to live in the city where they grew up"... Same, I can't afford to live in my home town. Bare bottom worst slum is like 170k and increases every year.
Where is that? In my area you cant find a place to buy for under 500k anymore
@@nickzalan4762 Oregon
@@nickzalan4762 where do you live? Here (dallas fort worth area in texas) you can get like 4000 sq ft for $500,000
2 hours outside of Vancouver BC, The housing cost issues cover a good chunk of coastal BC. I'd like to move but as my folks are getting older i dont exactly wanna be too far away.
@@johnhunter7244 i thought texas was known for their relatively cheap prices? i’m from europe so i don’t know.
It’s really sad that saying “the younger generation is getting screwed and we need to change the system” is a political conversation that’s somehow controversial.
This ^. Apparently, human rights and being overall kind to each other is controversial and requires "debates".
It’s controversial because we are so intellectually diverse now we disagree on how to do it.
Debate is supposed to be a healthy way of figuring out a middle ground on how to go about these things
In the uk my mum bought her first house for £12,000 on a £4,000 a year wage. Now the same house is £180,000 and the average wage here is around £30,000. Crazy
I believe my mother paid about £100k for her house in the late 90s, the house is now worth upwards of £850-900k
@@AndrewStrydomBRP Yeh crazy. Mums first house was in the 70s i think
I spent equivalent to US$ 120K+ for a bachelor degree in Australia, moved back to my home city, where average apartment is $2M+, and salary is ~$4K. Yeah, something is off.
Beijing/Shanghai??
@@SKAOG21 Shenzhen actually, housing issue is even worse here.
China has a whole other real estate problem that blows my mind. Shenzhen aye? Big tech center, I can believe it's expensive like california
China is crazy about real estate huh? I heard people will literally buy apartments in the middle of nowhere, with no intention of actually living in them, just to say they own property.
@@Slenderman63323 seems like a bubble waiting to burst
Not sure exactly how it works in the states and Canada. But in the UK it pisses me off how the people in charge for free education to degree level, then set tuition fees for the next generation, and they complain to us saying we have it easy!!!
Same here. Boomers fought to get free education and free healthcare. Then they are charging us for education and try to make every aspect of healthcare private, because it cost too much and they'd need to lower their retirement payout...
The tuition fee system in the UK increased the number of uni students and allowed way more poorer students to go to uni because the unis had more funding that they could use on poorer students
@@markwalshopoulos while decreasing the value of a degree overall, so that those “poorer” students (who if you’re actually poor, still struggle to fund their education) so that you still need to carry on to a masters in many fields
@@TheFirstMistake how does it decrease the value of the degree? British uni grads have one of the biggest wage premiums in high income countries, the only ones with bigger wage premiums are Ireland and the US
@@markwalshopoulos the fact that 10 years ago to get a job as an “architectural assistant” needed a ba degree, and now requires a masters
That sigh at the end says it all
YES! That whole generation swooped in like locus. Perfect example. That entire rant has summarized my anger for the past few years.
The biggest lie that is hurt the younger generations is that you even need to go to college. Choosing a good trade in going to a trade school or just becoming an apprentice is often a better way to make good money. I know most people don’t like to get their hands dirty but there are plumbers, bricklayers, and welders that make six figures and they never spent a day in college and have no school loans.
Yep. My school counselor who saw me twice in my 4 years at HS tried talking me out of joining the military and going to college. I was smart but lazy. I barely graduated because I didn't want to do homework. Yet she thought college was smart for me even though she saw my D's and F's. Instead joined, did 4 years, got work experience, a paid to go to college, and get disability for the rest of my life due to permanent training injuries. Schools need to stop pushing college fits everybody bs.
Most trades don’t get into 6 figures. I’m a licensed plumber, and I bring in 66,000 before overtime...
Very few of them actually make six figures. And there's plenty of places in the country where $100k a year ain't shit.
@@mastrtyle That’s better than an unemployed gender studies graduate that has $100,000 in student loans living in their parents’ house.
@@jrfjosh better yes, but not the 6 figures you claim it to be. And not enough for this plumber to move out of his parents basement either so..
My mom's house rose 200k in price in 15 years. The housing market right now in my area is bad that you have to put 20k or more on top of the asking price to even compete with others trying to buy the same house.
when i bought my condo for 245k (it was valued at 235k) there was people offered 100k+ over asking price for units in the building because it was such a crazy boom when our PM decided that he would let every immigrant applicant go through lol. that condo skyrocketed up to 500k in value in less than 4 years and its only going up as the only houses being built are just 1m+ land property houses... land property not even house
@@mikeymaiku *rich immigrants
The common immigrant who actually contributes to our cities is also left behind.
My old house rose 200k+ IN A YEAR here in New Zealand. Not trying to one up you at all, it sucks for everyone, worldwide.
The house I live at was bought for less than 70k usd 10 years ago. It is a very VERY small house, you can barely park one car, no garage, no garden.
10 years later it's valued 210k usd. It's nonsense, and it's happening in every single city in the world.
The worst part is that it's not even a first world country, what the fuck are we supposed to do to afford something like this nowadays? Average salary here is 400 usd a month.
@@Ballistica242 Same! I live in Wellington. Purchased my first home as a land house build package and before it was even finished it was worth 200k more... WTF
My sister bought a huge house in London for around £600K in the noughties. Just before Brexit (a bit over 10 years after buying it), the neighbours house (which was a bit smaller) sold for over £1.2 million. While I was living with her, I saw the scungiest, pokiest little apartment on the market up the end of the same road for around £100K. It took almost 2 years to sell and 5 years later it went back on the market at >£500K and sold within weeks.
For the majority of my life, it always seemed that property was always just out of reach of my ability to buy, despite being on a pretty good wage. Every time I got a payrise, my cost of living went up, often by the same amount and mostly due to rent increases. When my wife and I went for a mortgage (she also earns a really good wage), our parents were shocked at how little the banks would lend us and that was entirely due to us not having a large enough deposit
In order to buy, It always seems that you either have to have a central city income, but be lucky enough to work out on the fringes (so you can buy in the fringes and not spend half your life commuting), or get help from your parents (if you're lucky enough to be in a position where they can help) and still have to buy far enough out that you will be spending insane amounts of money and time just commuting
I honestly feel the same way. Was planning to move out of my moms and build a tiny house to live in. But the pricing of even just land anywhere that isn't riddled with crime now has skyrocketed. So instead I had to buy a used trailer, and am stuck camping out at the old family farmhouse in the meantime.
As a guy living in the capital in the Philippines: You guys have houses?
The only way you could get a house here in the capital is if you currently work overseas and exploit the value conversion as our currency's value is pretty low, but if you're getting foreign wages, putting that money in the PH feels like you have plenty of money.
i feel
My friend tells me how people retire in Moscow because western wages go so much further there.
We're fortunate enough that my grandmother was able to petition our family to be brought here in the US. Back in the PH I was working as a call center agent and now that I moved here and was applying for jobs, they were asking how much I was earning per hour and told them I was literally earning $1.5 an hour in comparison.
Well it's either that or try your luck living in the provinces and see if you can get a reasonable commute to the capital.
The great thing about living in the Philippines is that there is no culture of settling down in the big city. Cities are for work, to help save up for that house that you're building in the province for cheap, so you could retire there.
If they called your place a mansion just imagine the living conditions everyone else is living in.
For people living in 3rd world countries it's more than a mansion, it's a dream.
If I recall correctly, my parents' home is 800 square feet, and Linus is talking about 2000 square feet not being that much.
@@CausallyExplained yes
My mom used to know a family who lived in a school bus. not one of those super clean modded travel home type projects either, it was bad.
houses always look bigger on camera. You're not there, so you don't get any real sense of the space that's available. On camera, a room's size is just the pure dimensions of the walls, but in person, a room's size is the part where you're able to fit your body among other people also in that room. Linus' house is really nice, but it's nowhere near a mansion. It's also a house, as opposed to an apartment, which is where the majority of people live in urban environments.
I actually wonder how long it will take for people to simply start building single story/level tunnel-houses out of mud bricks or cob bricks, and covering the inside and outside with waterproof cement, then optionally add insulation to it, because it would be so much cheaper than normal/conventional houses. The house would be made from a few parallel arched tunnels, connected together so they share bigger walls, and having arched doorways with normal or arched doors, and it would have electricity, plumbing, doors, and windows like a normal home, maybe even overhangs for the windows so it doesn't rain in the house when the window is open, and the biggest cost of building it is getting the dried mud bricks or dried cob bricks (cob = mud + straw or dried grass) in the right shape, and stacking them with a support like a greenhouse tunnel. The ends of the walls, which would be normal flat walls, would need to be a bit inside the tunnel, so people can stay outside the door without being rained on, and so snow doesn't pile up so high that you cannot open the door. But you are limited in how big the rooms can be in one direction, unless you use pillars and dome ceilings, instead of tunnel, for the vaulted ceilings, which are more difficult to make, but still cheaper than normal/mainstream materials. And you can turn normal cement waterproof by mixing it with boiled starch mash/gravy (i.e. wheat flour, rice flour, rice grains, cornflour, even potatoes). In fact, the Great Wall of China was made with terracotta bricks and a cement mortar in which sticky rice soup was mixed. I don't see why we couldn't mass-produce such houses so everyone can afford a house, even if it's in the middle of nowhere with only a road access, as long as it has access to tap water, sewage, electricity, and internet. Solar panels and batteries are already used for electricity, water wells with water pumps which to fill water towers when the solar panels produce excess energy can give people tap water, and a single Starlink dish antenna is enough to get internet for 10 to 100 people or more, depending on how much internet they need. And for the areas where it gets very cold, solar air heating walls with stainless metal mirrors placed on the ground to reflect more sunlight and concentrate it on the panels or house windows to get higher temperatures, and maybe also trombe walls which for the warmer regions to be a hybrid trombe-wall solar-chimney. The air heating/cooling could be paired with a fan for active ventilation, or could be gravity setup (cold air falls to the ground, because it's more compact), to heat the house. Not only that, but since you save so much on building the walls and the roof, you can probably afford under-floor heating.
Linus going on an anti-Nimby rant is my new favourite thing, we don't need tech anymore we need this.
I almost bought a house in 2019. I didn't to go to school. Not only did Covid stop my schooling completely, but I can't afford anything now!
I also had to give up on my Uni brother. I was going to enter my third year, but the Covid crisis hit my family and my country's economy so hard that unfortently even if I could find a job and a loan I couldn't be able to return to Uni even in my wildest dreams. I've been very depressed about it for the last 1 year or so. It does feel like being stuck in a void of shorts. Knowing that I will have to go into society with out higher education really scare me for my future. I might have to leave my country if I see that there isn't a future here for me anymore. I hope you are able to find a solution stay strong.
I also had to stop schooling due to the pandemic and not being able to afford it I work 40hr weeks and still am barely making enough to get buy I wish to return to school but can't afford it. Hopefully if we just hang in there and keep working hard it'll pay off for us
I'm in school during covid and it's a joke. The classes I've had to take are way to easy and just lab simulators that get beyond boring. In my networking degree I haven't touched hardware in over a year. Now I'm going to finish up my AS just to get entry level IT job and learned more from Linus than these classes. If I wasn't on a scholarship I wouldn't bother continuing.
@@-Pulsar- Maybe try looking for temporary work like Manpower or so. It's a good way to getting new companies known and if they are satisfied they will maybe even hire you for fix. You just have to write a resume to the temporary bureau and they will search a job for you. If you are not afraid of getting hands dirty there is often some work around, at least during the warmer season.
These are some conversations that we need to have. Bravo, Linus!
Thanks for this conversation: I agree, when you have to move from the city because you can't afford housing, families and friends are separated. Kids grow up without their grandparents or cousins. Folks lose the support of other family members like their parents, siblings and best friends. This house greed is hurtful, out of hand and have far reaching negative consequences.
Someone born in 1995 is not a Zoomer, they're a Millennial. Millennials were born in 1982-1996, so they all turned 18 _after_ Y2k but were old enough to at least be in kindergarten when 9/11 happened. Zoomers are Gen Z, who were born after Millennials -- though I'm not entirely sure whether Gen Z immediately follow Millennials, or if there was a Gen Y in there somewhere.
*Also, make sure you give appropriate blame to China.* 25% of the world's population isn't allowed to own property in their own country, so they buy property overseas, sight-unseen, and just wait for demand to drive up the price so they can sell for a profit. The entire Pacific Northwest, both in the USA and Canada, is really hard-hit by Chinese real-estate speculators.
My dad, bought our lot and build our house like 15 year ago, today he could easily sell the house for 10x what he paid.
House prices are crazy.
Take a look at inflation with compound interest over the same time period... He didn't make as much money as it looks like on the house. People love to use stats to justify their opinion's when things are never that simple.
@@LukasTheBlue noone said it was simple.
Anyway, in my country, buying power dont increase the same as the inflation.
@@LukasTheBlue so he owns a property he could pull his money value out of if he sells.... its better in every possible way than to give your money to some guy for rent (depending on the area im just going to use vancouver as a example.... 1800/month). my morgage on my 500k condo is half of what the average condo renter pays...
@@mikeymaiku I agree buying is almost always better than renting. I am just pointing out the the value of the house increasing compared to a similar investment elsewhere (ETFs for example) isn't quite as unreasonable as it first appears. Keep in mind that any investment much be calculated with compound interest not just simple interest inflation, and there in lies the key to the distinction I am trying to make. if you use compound interest which you must, the housing market in most places hasn't actually increased as dramatically as people assume.
My grandparents live in Vancouver and I recently did this calculation looking at the original purchase price of their home compared to the inflation and was honestly blown away. as an average over 50 years it has been quite reasonable. But yes renting generally is losing money in a worse way since you don't have equity at the end.
@@LukasTheBlue i still dont get how a morgage on one of those houses is under 3k but renting the upper floor for 2200 and lower floor for 1600. There was a time when you could go in with ZERO down on any propety given you had "ok" credit.
Im 35 and all ive seen is 15-30% increases yearly for the past decade as a home owner and someone whos looking to move into a single detatched home.
My 400k condo cant even cover the down payment to start a morgage
600€ per year in Portugal
If your parents don't make a certain wage (for under 25) , it is FREE
you may also have free rent, or free rent on residence if available
even free meals if you're family is really struggling. Here we help everyone. Not the rich. And people don't have problems with that
I've heard you've got rent caps in Portugal too. Sounds nice from someone living next door in Spain
@@seanonraet8327 it is true. You're rent may be financed until a certain limit
If you don't have a certain income you also have free meals and other things
needless to say that everyone has free healthcare
great love from Portugal.
long live Iberian peninsula
If people suggest that here in the states they’ll be burned at the stake for being socialist or communist or whatever
@@andresacosta5318 is that really being patriotic? Thinking that everyone is born with an equal chance at success
Here we are known for not being patriotic in the sense of having a flag pole on our yard
But we care about the others
Any form of collectivism is considered communist propaganda here in the US
Houses were around 150k or lower a year before my wife and I bought a house. After we bought our house around 200k. Our house model is now getting closer to 300k further into the subdivision.
It's stupid and driven by a lot of rental firms buying out the cheap houses to jack up the price for the new workers from out of state with a lot of money.
imagine despite high rent and cost of living that you were saving for a house in the last two years,
you were closer to buying a house at 0$ down payment in 2020 then having 50k in 2022.
the carrot on a stick analogy but the carrot keeps getting further away the more you run for it.
imagine saving up 50k down payment on a 400,000 house (2020) that's now worth 475,000.(2022) Being 25 thousand less than where you started. which was zero.
i am not a financial adviser of any sorts, usually not even good at math. but this is depressing,
also in the last year myself and my wife managed to save 3K. i cant imagine what its gonna take to own my own home before im 40.
somebody burst this bubble.
"imagine saving up 50k down payment on a 400,000 house (2020) that's now worth 475,000.(2022) Being 25 thousand less than where you started. which was zero"
That analogy is completely incorrect. You're not down 25k, You're locked into a 20 to 30 year mortgage anyway. 25k doesnt just disappear. You own it all...unless the market crashes, but if thats what youre waiting for anyway then stop complaining and start saving...but 3k between 2 people in a year? Sounds like you have mixed priorities if thats all both of you can save.
@@bigbirdmusic8199 ahh yes my priorities.
Gotta hold back on that avocado toast.
Nothing to do with high rent. Child care, electric rates going up where I'm to. A medical emergency I'm still paying off from 2 years ago. Student loans I got to pay soon. (From both automotive tech , and computer systems & networking.) Shits hard. Once I find better I'll take it. But that's how it is. My locations sucks. And can't afford to move. I know my own situation And this is my opinion on it.
Housing should be affordable to all and not used as a long term investment.
Anyone working should be able to live off of their
work. 40 hours a week should pay enough to live. Regardless of what is done.
I get a kick out of the overblown experience requirements for most positions. It’s just laughable when they ask for experience that is longer than the skill has existed.
Sorry we can’t hire you, you don’t have 10 years of experience in this programming language that was released 5 months ago. - what I gathered from memes
@@youtubeminute4388 Pretty much. I think they teach this in Recruiting 101. 3-5 years of experience for entry level. 10 years for senior positions. 20+ years for executive. Insert random or current buzzword technology.
@@tonyphelps399 most of those experience requirements aren't even done by the people that are doing the hiring. It is most likely some person in the HR department that is making the job list and has no idea how the job is done and they put that 5 years experience in their thinking they are going to get better employees that way. You see this a lot in the software Developer field a lot. my teachers in school always said if you read the job description and think you have the skills to do the job and have projects or references that can back that up just apply even if you don't meet the years of experience
I think part of this problem is the manager who need the position filled, has no control of how the company advertises the role. HR does, and HR knows jack and shit about the job requirments.
It's great when Every job in the field has those requirements so you're guaranteed to never get in and they'll just keep recycling the same generation of workers.
Yeah, I’m in the UK and to progress in my career I’ve been informed that I need a ba/bsc to progress. I’m 38. I have 20 years experience but because I haven’t got that piece of expensive toilet paper it’s simply not good enough
Find a different employer and try getting some industry credentials that actually have value.
Same goes for South east asia. My Dad couldnt get a proper raise despite having 30+ years of experience on that particular job because of that toilet paper, meanwhile some random kid with degree could just swoop in day 1 and become his boss with 5 times his current salary despite having 0 experience. crazy world huh
Also in the UK, education carries zero employer credit after 2 years of meaningful workplace experience.
Your probably doing something wrong
shop your experience around. they're just using your company loyalty as a cudgel. someone with your experience and reputation will make more elsewhere if they need you. get a job offer with better pay/benefits and shove it in their faces.
One of the problems came from all the 'house flipping' shows that took an occupation that was originally a handful of people buying homes that frequently were in disrepair, fixing them to acceptable living standards, and selling for a moderate profit-then changed it into hordes of new investors buying homes that far too often are perfectly livable, renovating them, then selling them for a massively inflated price. They are taking homes that used to be livable and affordable, and offering minimal upgrades (like 'new kitchen and bathroom' which is primarily cosmetic) and upping the price so very few can afford it. And sadly, a lot of that is millenials doing it now, those who had money already (either from family or connections to get a good job) that are taking homes away from their less fortunate peers and younger generations. Housing is a necessity, but yet it's been turned into a commodity for well-off people to become even more well-off while the majority of the population suffers. Not sure if canada is the same, but in the US we have tons of "we buy ugly home' type sites that love to prey upon people in financial turmoil who end up upside down on their house, and choose to sell it off for cheap rather than go through a foreclosure. It's outright predation on the vulnerable for the sake of profits. And that's in part a result of the subprime mortgage crisis, banks so eager to make money they were giving out home loans to people with no reasonable likelihood of ever being able to fully pay it back, so you have a lot of people forced to get foreclosed on or sell at a loss to salvage their credit.
I just attended a "Rent Auction". It was just terrible. Outside the hall I saw people crying, quietly asking "what do we do now?". A Rent Auction is like a normal auction but it's who is going to pay the most in rent wins. Just terribly sad.
One of the best clips in a long time. I want to see more Linus rants 😂
Or is that Linus Rent Tips?
new channel
The one where he went off on Nvidia (or was it intel) was really great
As someone shopping for his first house south of Seattle, I am seeing all this as well. Houses going for 30-50k over asking with dozens of competing bids. A lot of people buying up property just to use as rental property not giving breathing room for new home buyers like me. Some of these people are paying $500k+ cash and not even to be in a city like Seattle. As dark as it might be, I am hoping for a pop of this housing bubble again, sadly it would probably hurt people like me more than those who are already capable of buying homes like this.
after the covid relief dies off I could see a big pop. Many people who couldn't afford their house will probably lose theirs sad or not
Isn't Seattle just Vancouver with guns?
@@wta1518 lol no. Seattle is Blue as hell. Trust me, they aren’t 2A friendly.
@@railerswim Sure, but compared to Vancouver?
@@bobhanson1037 I don't see any kind of pop happening. Was there data showing people couldn't afford their homes in 2019? No, there's no mass evictions coming. Inventory will probably rise again at some point, but home prices aren't coming down, just less bidding wars.
We moved from Long Island, NY to South New Jersey and we got double the size house at half the property taxes we were paying in NY. We were lucky that the area we live in now had that market crash a few years ago where many people had to foreclose because the houses were at ridiculously high prices and the banks gave out loans to people who could never afford them so we were able to get the house we now live in for way lower than normal. The family we bough the house from lost money on the house. Our house was built in 2005 and sold for almost $400,000 US. We got it for almost 25% less. In 2012 it was listed for $300,000.
Imagine living in Portugal, just got your masters in one of the 10 best European universities and then getting paid 800 euros a month. The rent is 700€ for a T1 (1 bedroom apartment). Banks don’t think of you as an adult if you’re under 30 so you can’t get loans...
78% of the people under 35 live with their parents here in Portugal.
All because the Europeans and the Chinese have more homes than we have.
It’s fucked up
Edit: I live in a town of less than 5 thousand people and my home is 220 m^2 and it’s about 350k euros. Keep in mind that the average wage is 950 euros in Portugal
This clip just gave me even more respect for Linus. Preach man!
I went to a community college for decent portion of my credits, next fall, I’m transferring to a state university to finish my Bachelor/Masters. My total tuition (all 4-5 years) will roughly be $25 grand, $25 thousand less than normal. This includes what I get from federal loan (about $5500 per year for 2 years) and what I saved from taking classes at my community college. If you are still in high school ask someone about taking duel enrollment classes, you can get credits at a local community college at a discount.
The solution to people "malinvesting" in their education is NOT to bail them out. The solution is let the market bring down the costs of these degree programs. The universities are producing "very questionable" degree programs, essentially products, that are worthless. WHY? We don't force universities to respect market forces. IF nobody is attending, improve your product or lower costs. The "current system" doesn't work because you took the market forces out of it entirely. Then these undereducated, overindebted populations blame capitalism. The only thing that has proven to raise living standards. If only they had gotten a better education for what they paid. Nobody seems to acknowledge that there might be some downstream effects to the government essentially ripping up billion $s of contracts because "democracy". That's not how any of this works.
This is so real. I recently graduated and got a job. I’m spending 31% of my salary on rent and utilities alone for a 1 bedroom apartment. It’s crazy.
My girlfriend and I got approved for a 400,000$ loan to buy a house (We live in Ontario btw), we couldn’t even afford a condo in our hometown of Guelph. We are literally priced out of every city in Ontario and we can’t even find something decent 40 minutes away from where we work.
It doesn’t make sense because even tiny houses with two bedrooms and one bathroom are going for 600,000$ in a terrible city like London, Ontario. How on earth are we supposed to start a family? Housing is one thing but daycare and school is also getting ridiculous.
I like how London Ontario is universally considered the worst London.
@@PierceMD I’ve lived in Guelph, Brampton, Toronto, Mississauga and London Ontario. London is by far the trashiest. No idea why someone would pay close to a million for a house here.
Same brother, same. I’m from Newmarket. I was approved for 375. I’m basically looking at 1.5 - 2 hour drive in to work, for a small shit hole that should probably be torn down. Maybe mothers basement isn’t so bad after all..
@@mastrtyle worst part is no government is doing anything to fix it. Not the liberals and not the conservatives. I’ve honestly considered moving down to the states but given the political atmosphere in that country I’m not sure I want to right now.
Never expected to see a YIMBY rant on WAN Show, hell yeah
#legalizehousing
I'm 23 living in BC, the *only way* I could get a house that wasn't just a basement suite was by putting a mobile on my dad's property. My neighbours all did the same thing, and my friends that aren't lucky enough for that to be an option are just screwed. One friend got a townhouse, but was only able to afford it because of an inheritance and help from parents. There is no "pulling yourself up by your bootstraps", you're either privileged enough to have help or you're stuck paying so much in rent that you can't conceivably save for a down payment. And in that situation school is pretty much off the table.
I'm a 30 yr old single parent of 1 child living with my mother. After my parents divorced, my mother wasn't able to help purchase a vehicle while my older sibling was fortunate enough for that luxury when she came of age. I live in the southwestern area of Virginia and there's no public transportation here, and even if there was, there's no new jobs and its boiling down to competeing with people younger than me, who do have a college education, just to work at burger king. I was expelled from high school for being a typical, rebellious teenager in the era of post-Columbine hypersensitivity and I was forced to get a GED instead. I haven't had a job in years, nor a means to get to one other than riding a bicycle for 10 miles. I've been steadily deteriorating into a multitude of neuroses's and the hardest part of my day is convincing myself that my life is worth the amount of suffering endured thus far. I have not a single shred of hope whatsoever in owning a house or ever having land to pass down to my daughter to avoid her having to perpetuate the same miserable existence.
I am on the millennial/zoomed border and I WAS making enough to purchase property but that went sky high and so did material to build... Purchasing a home is also out of the budget now so I honestly think I'm going to move into a van. It is cheaper than rent and it will be something I own instead of wasted money🙃
Bro, it is easy I paid for my house in cash without any inheritance or lottery.
All I did was sell 1 GPU on ebay.
I bought a brand new tiny house trailer and a decent used Honda SUV. For about $20K total I owned my first house and scored a nice SUV.
hey, at least we'll soon have Starlink so y'all have internet wherever you are.
welp, I can understand not wanting to participate in the boomer clusterfuck of the housing system when I myself don't even feel like participating in living in this society anymore.
@@Haskellerz you sold your 970 and even that got you sick returns huh XD
Cost of wood is sky high right now, like worse than the cost of houses - I heard 400% higher - due to CV19 lock downs. Give it like 4-5 months and reprice your building materials.
I lived on my own for 3 years after graduation but I move back in with my parents could shift ridiculously expensive not like I don't make good money it's just everything is ridiculous.
It's not like the government printing trillions of dollars is devaluing the currency though. So, we should definitely print more!
Prices increase because our governments increase our money supply. When more money is created, it devalues all previous currency valuations and causes the previous money to lose value. This is what causes prices to increase. Yes there are supply versus demand dynamics on all goods and services, but the value of money has it's own supply and demand dynamics as well. The value of a nation's currency is primarily determined by the nation's GDP and how many currency units are in circulation. If a nation produces very little and has lots of money floating around, that money will be worth very little. America is an exception to this by a little bit only due to America having the luxury of having the US Dollar as the world's reserve currency. Nations are forced to trade in US Dollars for many goods so the US Dollar has artificial demand. If the US Dollar ever loses the world reserve currency status you will see a financial crisis in America that will lead to hyper-inflation. This is why America's founders forbid future governments to issue paper currency as money and only use gold and silver as legal tender. Gold and silver cannot be created out of thin air like paper money can. Yes America did experience hyper-inflation during the founding father's time. Look up what happened to the US Continental Dollar.
After 3 years of graduation, is your annual salary = to your total student debt?
ie. $50k/year for a $50k degree
@@Jeff-su8tc Is that a metric people use to determine if student loans are good debt?
@@UmamiPapi That is a metric weather an investment is a good investment.
If you chose a major to get a job that can not afford to pay back the cost of the major, then what was the point?
I heard the argument that you NEED a degree for a good job.... but if the good job can not pay the bills then it is not a good job...
You don't actually need a degree for a good job. If someone thinks that, then actually need help finding a well paying job that fits their skills/interest to learn needed skills.
I completely agree with Linus on this topic.
I don't know exactly what it is like in Canada, but I can talk about my experience in the states.
We should seriously look at regulating housing real estate markets more closely. I feel like housing property is considered an investment more than a place to live for a lot of people. Having more than 1 house is a luxury in most cases.
Yes, individuals should be able to own multiple properties, but I think more should be done to make first home buying easier. That might include adding taxes to multiple homes where an owner does not physically for a certain length of time each year.
The other big issue is zoning. My belief is that zoning should mostly be about separating industrial zones from other business and housing zones. The whole thing about what type of home that is allowed to exist is total BS. There are many homeowners of the older generation that care about their own home values above anything else when it comes to property laws and zoning.
Anyone born in the 90's or later needs parents who can support them well into adulthood if they ever want a chance of home ownership before they are half of their life has gone by. Same for graduating to get a decent job without enormous debt.
An interesting fact for yall about rent prices neer my university (ncsu). The rent price within 5 miles of campus are within about 10% of what rent was like when minimum wage was established when inflation was calculated in. Tho that is for a solo apartment then to a apartment with 2+ roommates today, with the same minimum rate.
Born in 1987. Did a university degree in Ontario. Worked at a cookie factory in the summers and made 15-16 $/hour. Paid for all of my education without a loan. Lived with my parents for one year making 40K/year out of Uni. Bought an apartment for 200k. 8 years later the same apartment is 400k.
Lucky
@@mackenziebullied4900 Absolutely. Being able to work full time in the summer, getting a full time job directly out of University, and finding a good apartment at a reasonable price were all very lucky. All of that luck and I was just barely able to buy a place. I understand how difficult it is for my brother and many of my friends.
Yup. We're right on the turning point. People younger than us had far less opportunities. I left school for a couple of years before I went back to finish my computer science degree. The difference those years made is impressive. It went from everyone having a small side job and having fun, to people having full time jobs and having issues to pay rent.
And I'm not in a metropolitan area...
@@GnikNeb my plan is to work hard for at least 8 years and not spend it much and reinvest an okay amount of it maybe buy a trailer in the meantime idek
Man I really wish I was born a decade earlier...
When million of people can go into debt to buy something it massively increases the cost, wether it be cars, houses or collage.
And when they can't pay their debts, deflation takes over
@@Vandil_the_Rogue yup deflation when the economy crakes so its even harder to pay it off. The one good thing is is we get massive inflation existing homeowners may lose there homes at the cost of anyone else getting screwed. Of course this idea is already spiking prices.
This is why game subscription services exist, they're gamer debt; you're extended a line to access the "service" of being able to play games for as long as you can pay it
But that means the price of games can go up, even as costs are falling. Once every console is disc-less and people move away from Steam, GOG, Itch.IO, and Humble we will see even the subscription prices going up, which is why companies like Microsoft and EA are artificially suppressing the price of game subscriptions for now.
@@ThePlayerOfGames although that is a problem it isn't debt prompted good deflation.
the problem isn't that they "can"
it's that they willingly made it a standard of society...
you're expected to get a mortgage, car loan, and student loan
which then forces you into a constant 9-5 in to pay your monthly bills
basically a win, win, win situation for the banks as always
I used to live in the Fraser Valley. In the beginning of 2020 we moved to the Kootenays, partly due to the cost of living in the valley. Housing was fairly inexpensive here when we arrived but once the pandemic hit, prices went through the roof. Rentals are pretty much non existent. I live an hour from the town where my work is based and it is unlikely I'll ever be able to afford a house in that town, let alone the town I currently live in. I'm genuinely scared for my future as I don't see how I can possibly keep up with the rate at which the price of houses increase.
Australia has a system called Commonwealth Supported Places (CSP), where the federal government subsidises part of the university fees for Australian citizens. It varies between universities and depends on the unit, but the average subsidy is about 60-70%. So if a unit costs $1,000, the fee for a CSP student will be around $350.
The government also provides loans to students, which are repaid as part of your tax return. Effectively, you don’t have to pay anything upfront to start studying (other than course and study material).
The fees for my Computer Science degree is a total of $22,500 ($17,500 USD) over three years. A full fee paying (international) is looking at close to $60,000 USD.
We're moving to a new city due to my dad's job, and we've been looking at houses, and any house that's big enough for us all is near or over 1 million dollars
Edit: I should note we aren't even living in the main city, we living on the outside of it
I mean... I have no idea where you live or anything but I can't help but think either you guys have really high standards or you have a massive family
@@Prokitess Some places in the US have 2 bedroom houses starting out at 1 Million
Well we just printed trillions of dollars for stimulus so expect it to be even more then that soon
@@chazfinch4564 But is that outside of the main city and isn't luxurious? If so then that is crazy
@@Prokitess bro look up houses in the toronto area. Can not get a detached house within 2 hours of the city. There might be some in like ajax for 750lk+ but they are like in a junction with a nucular power plant and a shit ton of railroads and factories.
Same thing happening in England, the same generation that then dictate to us about how we're complaining we cant get on the housing ladder... prices are insane
Back when I bought my "main house" in 2010, I was lucky that interests were historically low, banks were willing to give a mortgage for 100% of the net price, and my parents saved some money for me which I used to pay the extra costs that come with buying a house (registration and other bureaucratic nonsense that should be dirt cheap in the digital age but isn't). That was good enough for me to buy a small livable house in the countryside with a small garden and a 2 car driveway.
Recently (2021) I bought the even smaller, completely outdated, mostly stripped, unlivable (no heat, no water, no sewage, no gas, only a 2.3kW electric connection) house attached to the "main house" that sits on a larger plot of land and came with a 30yo wooden (houses are mostly brick here) 1 car garage... for almost the same amount of money, which was even considered a "good deal".
The house I bought in 2010 is probably "worth" at least 75% more in 11.5 years time while wages went up not 25%, interest rates have gone up (and will drastically go up even more soon), and a loan is now maximum 90% of the net price of the house.
Houses shouldn't appreciate more than the inflation, and they definitely shouldn't go up in value without doing repairs and updates.
Credential Inflation is what that's called.
In CA, foreign investors are buying houses in bulk to rent them out. It's driving up prices pretty bad here and a 2 bedroom house with 1 bathroom is sold for like 600k. Should mention this is Los Angeles specifically
Toronto has the same problem, Bright Sun films has some good videos about it.
thats a hecking lot of money! better go to some other country and buy a house near the beach or something
Why would people even want to live in LA with their disgusting water.
Me, an IT specialist with a post secondary degree but who forgot to complete high school and does not have a diploma
same here but im a certified auto repair tech
today you wont even get a call back if you dont have highschool education lol
@@mikeymaiku not true you just need to know what you are doing I worked in heavy paper industry for years you just need to be competent
Skilled trades are a goldmine; welders make BANK
In the US they practically want you to have a college degree to work anywhere that isn’t retail. This has caused a severe shortage in the mechanics trades because kids were told they had to go to college. A good way to make money right away with/ no student loan debt is to go into a mechanical trade. If you’re any type of technician(Auto/HVAC…) you’re writing your own check because you are in demand. But you’re going to get dirty and work in uncomfortable conditions. Fair trade in my eyes but it’s how I make my living.
I am one of the few of my generation who actually could afford to buy a house at 25 yo without any economical help from my parents, but if I had done the same in the 60's and 70's I would have been able to buy a house 5x as big, in the center of town, by the sea and by now probably own 1 or 2 more houses as "vacation houses".
This is ridiculous and the worst part is: this particular generation that shan't be named is now in charge of our countries.... it won't end in our favor for many years.
And this is without a uni degree. I decided to work instead of studying and my god will I have a problem if I want to change my field of work... without a degree I won't even be able to get a job as a librarian because apparently you need a bachelor's degree in whatever area for that "difficult" job...
If I had studied instead I would probably be cooped up in an apartment paying rent which means that every month 50% of my salary goes out to nothing giving me nothing in return.
Finished Uni in uk and got a degree in HR, i am like 40k in debt. I finished uni last year but due to covid i couldnt find a job in hr so I applied for a job as a plasterers assistant and i am slowly starting to plaster on my own and already earn significantly more than my mates from uni. This makes me feel like i wasted 3 years and 40k. I have recently bought my first house it took me 10 months of 7 days a week to save money for deposit. The only reason i was even able to save up money is because i have amazing dad who let me stay home and did not want any money and even paid for my food. It just makes me wonder how people my age are able to afford to buy a house in UK without parental support. I keep hearing that us young people have it easy now days but i dont feel like it is all that easy.
"it's called the 80's Luke," LMAO, totally true.
So there is Housing Shortage and the Landlords are the Miners and the regular people just want to own a House are the gamers...
nailed it
And the city government is the government limiting how much you build.
Its not even a real housing shortage, we have more than enough houses for every family here in the US, but we still have a huge homelessness problem.
@@thogggg I am Canadian so I am framing it in the Canadian Sense. My brother just bought a townhome with condo fees for nearly 650K - 700K. THe prices are out of whack and the People who are starting out are stuck renting which is what Papa Linus is talk to.
@@BriansRepublic shitty as it is. as linus put it, there was a time where you could get houses/ property for jokes of a price, i remember early 2000s my parents getting morgages on two seperate houses(5 bedroom 2 bathroom valued under 200k) at the same time with 0% down (landed immigrant family to canada in 1980s)
The North American zoning system is atrocious lol. Not only does it exaggerate urban sprawl consequently making public transportation impractical, It also makes housing less affordable, small businesses less successful, and more. It’s full of detriments compared to more lenient zoning and the primary, enormous issue is the “single family homes” zoning that restricts construction of small businesses in and around neighborhoods.
I'm 17 so I don't understand much about housing stuff, but I feel I know enough to understand that old people have screwed life up for anyone that comes after them. My parents bought a house for about 600K NZD last year and now it's easily worth over a million (which is crazy.) And when I get to 19 - 20, they will ask when I'm gonna move out and honestly, I don't know if i'll make it that far.