How 2024 House Prices are Crushing the American Dream
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- Опубликовано: 25 фев 2024
- There are articles saying that Millionaires are now stressed and feel like the middle class. But what does that make the middle class now? Low Class, No Class, or worse? Let's dive into this critical crisis facing us in the United States and beyond.
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Delving into the economic dynamics of today's world, this video unpacks the complex reality facing millionaires and the middle class alike. With a keen focus on the evolving definition of financial success and the pressures of modern-day expenses, we explore why even those with considerable wealth feel the pinch of today's economic challenges. This in-depth analysis sheds light on the shifting sands of class perception, the increasing strain of household debts, and the critical role of housing costs in personal finance stress. We aim to unravel these intricacies, offering insights and discussions on navigating the turbulent waters of financial management and striving for financial independence in an era where traditional milestones no longer apply.
Key Topics Covered:
The blurred lines between millionaires and the middle class in today's economy.
The impact of rising living costs and how they redefine financial well-being.
Strategies for managing housing costs, one of the most significant financial burdens today.
Insights into achieving financial independence amidst these challenges, with actionable advice to empower your journey towards financial freedom.
#financialeducation #financialindependence #housingmarket
LINK from Today's Video on the Article: finance.yahoo.com/news/almost...
The housing market is rapidly changing and making millionaires the new middle class. But with this shift comes economic challenges and financial stress. Watch this video to learn more about the current state of the housing market and how it may impact your financial future. Don't miss out on this important information!
*Disclaimer: Bob is not a financial advisor. Please contact a professional financial advisor prior to making any decisions. Some of the links and other products that appear on this video are from companies in which Bob Sharpe earns an affiliate commission or referral bonus. Bob Sharpe is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
It needs to be made illegal for corporations like Black Rock and Vanguard to buy residential properties. Investment firms are almost singlehandedly inflating housing prices by keeping demand so high, when they shouldn't even be legally allowed to buy residential properties in the first place.
You nailed it, they should not be allowed to manipulate the housing market.
Same with foreigners being allowed to buy properties in the United States to shelter their money.
This is actually completely wrong if you look up the facts instead of just reading headlines of articles
can u explain please@@tylersimmons909
The issue isn’t that they buy residential properties. The issue is production is being outpaced by demand. We need to make it more affordable to build homes and develop land. There’s simply not enough to go around and people that are already homeowners aren’t selling anytime soon.
What gives me stress? The feeling I'm not investing enough, fast enough.
Not having enough for retirement
Biggest factors I think is mortgage payment then car payment
Sometimes thinking reciprocal is another simple solution. Keep the home with low mortgage rate, find a job in the same city even getting less pay, saving 2 hours a day on commute (10 hours per week, plus gas and car maintenances), use the 10 extra hours to do a side hustle, and then follow your FI strategies. It’s a win-win.
Great point!
im 18 cant even move out bru
We really don't stress about money because we are careful not to live above our means and have a decent savings.😊
well explained
Thank you!
What gives me the most stress: tax rape by an increasingly corrupt, wasteful, bankrupt and powerful federal government.
Housing market: prices aren’t coming down until inventory goes up, regardless of interest rates. That won’t happen until we see large scale forced selling due to a rapidly increasing unemployment rate. Odds are high prices stay high and wages slowly melt up to increase affordability. The Fed lowering interest rates too rapidly could spring another round of higher than average price increases too. Lots of factors converging in the coming couple years!
What stresses me out is saving for retirement and then it goes up in smoke. Too much uncertainty!
My stress is recently laid off and it has a struggle to find a similar paying job. Second stress is housing payments as it is biggest expense.
Back then millionaires are considered rich, now it's having enough money to not live pay check to pay check.....
That I don’t know where to put it!!
I bought a house last week, and I think of it as a matter of I'd rather be paying down my principle than paying someone else's.
Hi, i have Debts, i have two mortgages, i have a rental, i owe 67k, and payments are 700 3% rate. I get paid 1800 a month for it. I have my primary i owe 270k i pay 1500 a month at 2.5%. My rental is valued at 330k. Should i sell my rental and pay off my primary, or should I pay off my rental and then focus on paying off my primary??
Even though I am based in Australia, your research and knowledge is GOLD! Thank you for sharing 🙏😊💖
Price of gold not heading up..
The thing most stressing me out about money is my damn job
i wonder what % of the one third of "millionaires" are home millionaires. Suppose someone has only a primary residence "valued" at 1.3 millionaire and their take home pay is $12,000/month are they really a millionaire? If that house has a mortgage on it then technically they are a millionaire on paper, but it is mostly locked up in a house. i think this is likely true where these millionaires feel like middle class
Stress not seeing my income goes up but billionaires are getting crazy bonuses.
It’s the inflation
I'm in my mid-70s and I made a lot of bad choices in my life but I live very comfortably now with my latest wife. By definition we are millionaires. We bought our house in 2011 when the housing market was down, right now we have a 2.25% mortgage. we could not afford to move the way the housing market is now. We owe 108 K on the house currently we are putting extra money away in a high-interest account to have enough to completely pay off the mortgage in 4 -5 years. My wife is 20 years younger than me so we are investing as much as we can into the market so she will have enough to live on when I'm gone. The only debt we have is the house. We pay off credit cards monthly.
Thanks for your channel I do get some good info from you to tweak what we are doing, I would say we are independent now but it's mostly from my income and most of goes away when I die.
bro come on, for sure in now a days if you own 1M $ you are not rich as the houses prices for that range when before the houses range was 300k or 500k. now a days regular house in Boston area goes for 1M or more.
I would like to point out that people like to think of themselves as average. One of the populous. Not out of touch. People also think in terms of the past, not the present. My wife and i have increased our take home 50k in the last 10 years. instead of scaping by, we are investing and paying off debt. But we still feel poor.
Also, a doctor up to his eyeballs in debt is actually worse off than someone who is debt free and saves. The difference is facebook posts in Cabo. The doctor looks rich, but he is tearing his hair out just as poor as the rest of us.
When I started work you could buy 20 house's with a million dollars now you can only buy one in my country
Stress point for me is making sure I can make the right investments to survive on and thrive. More and more people are slumping into forever working until they die. But then I have to remind myself I'm a stable and smart human being -- I try to be a cut above the rest and I can handle it.
Mortgage #1
Saving for retirement #2
Everything costs more. I have mold mycotoxicosis and spent $30,000 out of pocket for care. No insurance covers that illness. I’m about to drive my car without insurance. The house that I’d buy is grossly overpriced.
Now that I’m sick I can help one son but not both.
I have special health needs as a retiree/widowed thanks to Glaxo Smith Kline who killed my husband.
Concerned about the pharmaceutical industry encouraging kids to change their sex for their profit.
Everything is not about a house for me. Everything is whether a rental house has mold/mycotoxins. 25% of the population is misdiagnosed so take a quarter of Americans, give them mycotoxins (called CIRS so nobody know this is fungicides put in paint) and it’s going to be necessary like for me to buy a house I can control.
People have no idea their anxiety, depression, allergies, hormonal, vascular, dementia and very serious health issues are caused by mold in their houses.
Before fast talkers cause you to buy, get a certified mycotoxins test to see if you’re buying or renting a house with mycotoxins made by mold you cannot see.
What if those third of millionaires just aren't humble and also follow lifestyle inflation so they feel poor?
Ya that would be me. Millionaire is no longer special
Taxes
Oh good one!!
The level of entitlement in US mentality is off the chsrt. How many people work in the jobs they want/love? Live with you parents, do that 1,2,3,4 hours comute, that boring unfufilling job, until you manage to lqnd something better. Butcash inflow must continue, survival must continue. Suck it up and work hard. This comment is not meant for millionairs, they can do whatever they want, they are already millionairs.
You need to take all the money you make off of your RUclips videos and buy a bunch of R's
Ooof.
What’s an R?