The WORST PLAN YET to Take Your Money - U.S. Housing Market's NEWEST Disaster with Melody Wright
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- Опубликовано: 16 окт 2024
- Newest plan to enslave you with more debt! Melody Wright explains why Freddie Mac's (a government sponsored entity) new plan is a BAD IDEA!
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I don’t have much but having home without mortgage and car without payment and owning nothing to anyone is greatest feeling in world
@RC-fi4ix I know and I am great full Don’t need biger house or newer car
Yuppers. House and car paid for. No credit cards. Only have to worry about food, electric and phone and land taxes
@@tenaoconnor7510 It's the land (property of land) taxes that get people from day one. Like most gov. scams, they began by telling us it's only a "temporary or emergency" measure. Liars.
Praise God me and wife to. Jesus Jesus Jesus +
@@tenaoconnor7510 don't pay your prop
We NEVER truly own our homes. Even if you don’t have a mortgage they raise your utilities, property taxes and homeowners insurance rates until you can’t afford them anymore
Yes you so correct; Power to tax power to destroy saying from one of the criminal founding fathers, Only remedy is to search for your original patent issued in your state by federal government probably. About 1/3 of Americans hold their patents to their land/home and they are exempt from any taxes, hoa fees for instance. Insurance is required if you have loan (loan says tenant, not owner in legal paperwork), If you own outright will get to a point that people live without home insurance.
Nonsense.
The day I learned this, it changed the way I thought about all possessions. Hold it all with a loose grip.
I agree. I believe there should be a grass roots movement to make property TAX a thing of the past. The government can find another was to fund their pet projects.
@Starfish2145 How is it nonsense? The endgame of hyperinflation = infinitely higher home prices = infinitely higher property tax. You lose by natural conclusion.
I've had family hate me for sharing these observations. It's great to see people sharing truth. Bless you. No debt here... "Better to go to bed Hungry than wake up in debt." B. Franklin
I sold my McMansion in July 2023. Took the inflated fake inflationary net proceeds and bought land with all cash and now building a small home and growing my own food. Get out of the debt slavery matrix and manipulated taxation plantation.
This is our goal. We have the equity to sell, but the problem is finding the land that is not overpriced. We've been looking for a couple years now. And we don't have a McMansion.
Our family has been priced out of our home state of Utah. We couldn't even qualify for a condemned home. We tried looking for property that was cheaper and have the help of family help us build our house, but even property in the boonies is going for $150-$400k for property that is worthwhile(not too rocky or hilly, good soil, enough land to make a small homestead that is sufficient to feed our family, close enough to a community in case of emergency and so that my boyfriend could find work) that was LAND ONLY and completely undeveloped unless we were 1.5+ hrs outside of even a small city. Everyone is trying to jump on the land grab from cali and many people want to take advantage of the potential money they could make. Utah went from being a no name state to suddenly having 6 million dollar cities over the course of 5 years with several other cities not far behind. Now we are looking at other states and I feel terrible because I know we may end up doing the same thing to those residents but we don't have a choice...
That's the way to do it 👍🏼
@@StaceeMassey, checkout area in Florida 33953 , you can get 0,26 ac for $15-20 k, canal salt water go for $65-80. It is still affordable. Until people begin to buy more there. Check out
@@chardonnaybarlow4873sounds like Utah had an invasion 🤔 I want name the state
We've seen through the bs in 2008. The government bailed out the banks, not the people. We lost 2 properties back then, and we vowed NEVER AGAIN. People who have some equity need to down sizes. Sell it while you can and move to where you can pay off your property and live within your means. Do not ever get into another mortgage again. This is advice from a 30-year mortgage broker.
I don’t understand what you’re saying. you’re telling me to sell my house so I can walk away with $140,000 in profit at 3%. Then buy a new house that’s $200,000 more than it was four years ago at 6% and pay it off?
@@williamrose7184 move to where you can use the equity to pay off your property, in full. If possible. Don't get another mortgage.
@@Pyeknom doesn’t work that way. If I pull equity, then my mortgage goes up in price. And you can’t borrow 100% of the equity.
@@Pyeknom my mortgage is $1000 a month. I think I’m good.
I’d love to downsize. But I have nowhere to go. Do I go into an apartment? That’s $2500 a month for a two bedroom. Do I buy a cheaper condo at 7% interest with $300 HOA fee which means my mortgage is only $300 less than what I’m paying now for a house? Or should I try to get into a 55+ community where they want $450,000 for a two bedroom condo?
Tired of this corruption we live under, we must not comply
What choices are available?
Not alone bro.
Me too
@@ladycactus110Bitcoin... but people must believe and unite!
Hi-What’s the company that sells the notice off default?
This is why people protested Wall Street so hard in 2008, but the government ignored the people and saved these corrupt institutions. That's when I saw the American dream die.
The American dream died when the gold standard ended in August 1971. The fiat dollar is running the intended course. People are starting to feel it now.
This is called corpocracy. The STATE and large corporations take over everything and dictate law. They, the powers to be are stealing private property and soon we will resemble a communist state. Just around the corner.
Correct. They got the money and the house. And started over again.
Correct. They got the money and the house. And started over again.
Correct. They got the money and the house. And started over again.
I have seen RV parks, hidden out in the woods, with people living in substandard conditions and this is their permanent housing. Including seniors and children! Wake up people!
Yes!! I’m a senior living in an old rv in an rv park. And the lot rent is going up.
And people living on old boats in boat slips. Living in similar conditions
Did you ask them if they were happy with their existence?
@@waynehendrix4806I lived in an RV while going to College years ago. It was fantastic at the time. I short sold my house a few years ago after I was involved in a car accident that wasn’t my fault. I lost everything, my house, high paying job, wife, and more because I was doing what society said that this was the correct way to live. I’m on disability and there is no way to live the “life” on such low money. There is no way I would want to live in an RV again but it would be a way to survive. The middle class in this country are gone because they can’t afford to live the “life” that the system sold us all on.
You are right. Here in Florida now we have so many seniors that live in thier rv full time now. Here 6 months then home with thier grandkids 6 months. It's sad. Now the RV parks are jammed pack an raising rent bigtime! In one yr. My rent for my tiny home went from $475, to $605 per month with no inprovements! Seniors are suffering.
I live in NJ and my mortgage has never been the problem. It’s the property tax. My property tax is double what my mortgage is, so technically as long as I live in this house I will never be debt free. Taxes are debt!!! If you don’t pay them, say goodbye to your house.
Yeah, my brother sold his house in east orange 🍊 NJ you can find a house with a doable mortgage, but then there is the freaking taxes.
"Taxation without representation."
Yes....but those taxes used to support infrastructure. Now it goes into a kitty of municipal graft while your community falls further into disrepair. The jig in this ponzi scheme is nearly up.
@pegggybohmann5601 I lived in East Brunswick NJ and my mortgage was $813 and my tax was $989 per month. The state took more of my money than the bank.
@@FrankieHyman what 12k a year property taxes
We have loanowners, not homeowners. They should change the phrase “the American dream of homeownership” to “the American dream of loanownership.”
“LoanOwners” 🤦♂️😂🤡
Loan owners, not landowners.
For most people this is 100% true!
They say: we bought a house, but in fact: they got a loan…
I bought a car; but they took a car loan and so on….
Banks make people believe that they are homeowners, but guess who has a deed or title ?
Tell it to the average person and they are furious. Truth is not always what is appreciated
Even if you paid cash for your home you still have tp pay"rent" in the form of taxes which they just increased 150% in my area I literally pay (in taxes) what my home cost me every 10 years
The great chinese leader chairman mao
Housing should not be for speculation but for living
Melody's knowledge, experience and ability to uncover what is really going on is AMAZING. This is REAL investigative journalism, independent, and old school. This is very valuable information! Good job!!
💯
Yeah, the only problem is that she is only capable to talk to people in the same segment and industry. Otherwise for every second sentence one needs to do y google/youtube research, like normal people do, when I talk to them about thermo fluid Dynamics
Huh... I am actually not sure I know what she said that 'uncovers what is really going on'
What Melody said at the end is so true. We are too busy blaming each other as citizens to see where the problem really stems from...above us.
The government is using the conquer and divide method to screw us. It needs to stop now.
divide and conquer
So long as we keep saying "above" us, it will continue. #wethepeople
1. The poor work and work
2. The rich exploit the poor
3. The police protect the rich
4. The taxpayer pays for all 3
5. The voter votes for all 4
6. The banker robs all 5
7. The lawyer misleads all 6
8. The doctor bills all 7
9. The undertaker buries all 8
10. The politicians live happily because of all of it 😂
The 10 Commandments of todays world. Best thing I read in a long time
The perfect summary...and has been like this for centuries
Masterfully Done !
🤣😂🤣
This made my 🍆 hard 😂😂😂😂
People must start living within their means.... no credit cards, drive a beater, grow a garden
People laugh at me for driving a beater, but I get offers for it now for more than I paid for it over 20 years ago.
A great car that one it's a keeper. I need a new tv but not buying new. Hardly watch it anyway but for visitors etc.
Buying nearly everything secondhand or on sale. Keeping expenses down right down. This is the start of a Depression.
Sorry to say this, but in a Depression people hold off purchases to get things cheaper and lose optimism. They will not bail out the banks they will do bail-ins and give us shares in the bank instead of our money. Scary.
You are so wrong why don't you tell banks and city and state government to live within their means. You should know how to live in your means
Ex: how much will my taxes are going up, what is my utility rate going to be.
Driving a beater Sure!!! when you can not get parts for your 15 plus year car to keep it running. I am having that very same issue now with a vehicle I own. The government wants people to go with EVs. People are slowly waking up and realizing this is not the answer. Use cash when making purchases is a great way to stay out of debt
@@robhunter2435 people need to live cooperatively and share resources.
I started looking at retirement and was told to pay off my car. I did. The day I paid it off I danced around giggling. Just have a mortgage and a stupid little loan from the bank.
I work for a university and I'm getting my masters at a 100% discount.
I've got a few money problems but with no car payments, no credit cards, I can work on the couple of niggling problems I have.
I recently sold a house in Portland, and I'm considering investing the proceeds in stocks. I know it's a wonderful time to buy, but is this the right moment? When will I fully recover? I'm honestly just perplexed at this point as to how other folks in the same market are making over $450,000 in gains in a matter of months.
For any investor, a strong plan is essential to their portfolio. The higher the risk, the bigger the possible return when it comes to making important decisions, thus it makes sense to consult with seasoned experts.
Explore the opportunity to engage financial advisors, estate planners, or tax consultants. Leveraging their specialized skills can support you in making informed financial decisions.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
NYCOLE CHRISTINA VANNATA a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I’ve always said…the last thing you want to be in the US is working middle class. You make too much to get any help. You make too little to sleep at night. Even things like food banks…..why are they feeding the “poor” who can get food stamps?
As it turns out, our government is doing all it can to make that middle class “poor”. Certainly not trying to make them wealthy, which would be the right thing to do.
not to mention, the government owns everything you touch including banks, utilities, the internet, medical systems, education, all your entertainment media companies, and social media .. They control the whole shebang. Third-world style. folks need to wake the f up.
This is so true. Also the elderly! They are getting the shaft. My Mothers husband died. They claim her income is too much! For most everything that is offered.
Eight hundred million people were removed from poverty in china
Diamond age in china is sixty five years old healthcare and affordable housing
This is the age old problem that now; unfortunately, is coming to fruitation. The elimination of the middle class.
Gas in Tahoe is $7 a gallon. Smallest cabin is $800K to buy, $3500 to rent. Jobs pay $20 an hour.
Most people only vacation in Lake Tahoe for a reason.
I live in south lake and it’s $5.79. Where are you in Tahoe? I haven’t seen any prices THAT high, but it’s still ridiculous. South lake also has cheaper properties for sale.
@@Kelly_Explores Tahoe City regular was $7 last month, South Lake is cheaper...
SELL.
@@guambroker but we live in paradise. It’s worth the expensive prices 🙃
Really scary times. I'm old enough to remember my father working and being able to pay for everything, a home, a car, utilities and still have money left over to get me a football helmet or toy every once in a while. Man where did all of that dissapear to? Slavery really never ended and the sad thing is that it is about to get way way worse.
I have a VA loan, bought in 2020, saw this coming, got a 256k home with 2.62%, I am getting calls everyday. Not touching my equity thx but no thx
You do not Have a "Loan".. You Lend them, they are borrowers, not you.. You've been flipped, by ignorance..
Same here . Got a VA loan in 2019 with a 2.5 % interest. Been getting a lot of calls to tap into my equity.
Smart move
@@skybiz4520 what are you talking about??? Make it make sense lol
Me either! Get the Word! Don't do it!
I believe this is such a corrupt industry.
Every single market is corrupt not one is clean ; gov all levels ; entertainment all levels ; residential and commercial 😅 but we already know this
“Country” comes before “Industry” in the dictionary for a self-evident reason.
Corrupt Country in liaison with corrupt Corporatism =‘s FASCISM 101.
@@Cloud29065and the only way to change this, would be devastating to our lives children's lives in the short term. And they know how to manage us to keep us from getting to that point.
@@Cloud29065 Exactly
In 2024, EVERY industry is corrupt. Trickle down from a corrupt “bottom up middle out” top down Bidenomics.
Excellent interview and very informative! Such corruption in our country. Very disheartening.
Imagine paying off your mortgage, only to have the government increase the rent on their land and price you out of your house.
Sheisty
😢 It happened in Hawaii. All of the land was owned by the U. S. A. Goverment. You had a mortgage on your house only. The property your house sat on was leased. The price for property, when the Goverment sold the land was extremely high. Many Native Hawaiian peoples could not afford to purchase the land under their homes, and were forced to sell them. Our Government has done a great job of taking many peoples properties.
@beckyheinz7337, Can you say "Maui fire".
You don't make any sense. If your loan is paid off, it's paid off. Move inland, if you don't like your expensive insurance and property tax. Get real 😮
@@PrestigeWorldWide777 Then move inland.
We need federal laws preventing the purchase of private residential homes by companies, and also preventing the commercial use of a home and as well, a single person owning multiple homes. Housing is a basic need, and needs to be treated as such
Great idea until you want to sell a property and are offered more by a corporation than an individual looking for their only home. How do you think we got here?
@@davidross8233 Well, this is the wrong attitude, and exactly why evil rules supreme. All evil need, is for good people to do nothing. You sir, are not an American. A true American would not sit idle, stating the things you state. A true American would stand, fight to be heard, and fight for righteousness.
@@GenXamerica Clearly you don't understand the concept. If there is federal law preventing the ownership of private residential homes by anyone other than a single private citizen, than what you are saying would not b possible. IT IS PURE EVIL, to own multiple homes, renting them out at prices higher than current mortgage rates. People try to argue that owners rening homes helps those who can't get a loan. My response, is that the fact citizens cannot get loans in the first place, is the root of the problem, and allowing ownership of multiple homes, and the use of homes for comercial use and monetary gain is simply replacing one problem with another and calling it a solution. And, of course, those owning multiple homes will be offended by my statements, and that is because they are selfish and greedy and don't want to give up their way of making money and multiplying their assets and wealth at the same time. How do people not realize this?
I don't know if you're right or wrong. What I do know is this. I'm 78, don't own and don't want to own. Under your plan, where would you propose I live??
Yeah, that's just what we need, more government interference. We wouldn't be here in the first place if it wasn't for the government getting into everyone's business.
I've come to believe that it's the investigative journalist that will empower and tell us the truth and free us from so many planned shackles. These true earth angles in every sector has open my eyes to the evil of man. I so appreciate Melody Wright and her team and Sachs Realty for being open to hear and share
Everyone’s in America is fed up with our government.
And I’m glad, it’s about time 🇺🇸
No....when they get truly upset they will begin voting libertarian like Argentina.
Was that Trump inciting revolution?
@@garryloper7170rather than socialist?
And yet Americans keep voting the same corrupt people into office (and I am talking about both parties here).
Imagine paying 2022 Florida condo prices, and then your insurance goes up 120% and your property taxes go to 40%.
Paying attention to WEATHER and likely hurricanes would make sane people move somewhere else.
Never buy a condo, they are a headache timebomb.
You will own nothing and be happy
In Florida, your taxes are capped at 3% year over year increase if homesteaded.
@@a.d.b535 homestead only applies to primary residence bro
Thank you for this discussion. There needs to be a lot more of this brought to the surface as the struggle is real and nobody is safe from unforeseen financial ruin. It is heartbreaking how far removed we are from the "American Dream". Very sad state of affairs.
I’m glad you hit on the corporations and big government being involved in the greed. I work in healthcare and have seen a huge decline in the medical assisted living facilities. This is another corporate greed/profit over people situation going on. These poor people live in their own filth and these companies refuse to offer appropriate staffing as well as supplies to do their job. I see these people in the hospital (hospitals are a problem as well with greed) and I have heard stories from patients and staff from these facilities. These companies get in trouble and then change their name and continue on doing bad practices. I don’t understand how they are getting away with it by just changing their name. It’s insane. It appears as though since Covid things have come to light more and the greed seems to have gotten worse as well.
Melody Wright is a great woman. This interview was heart tugging. I'm so, so, so disappointed with all those bad actors. Keep up the good work Melody!
What's killing me is the recent HUGE property tax increase in Cook County, Illinois, as well as the HUGE homeowners' insurance bills. It is equivalent to a house payment.
Wait until you see how much of your property taxes go towards low income housing and other social services that used to be done by a church but now the govts enforce it and enrich themselves in the process.
My advice to new prospective homeowners. Never buy a house you can’t pay off in 15-20 years. Hang onto it even if you can afford a bigger newer house. Life without a mortgage will change your life in more ways than you might think. Owning a home and car outright frees you to live your life on your own terms. This is in hindsight..I was in debt my entire adult life but at 70 I have no bills and saving the money I should have been doing years ago. I feel like a millionaire.
My point: why do so many people buy beyond their means. In the 1980s there was a scarcity of good homes, interest rates were 12-15%. Logically you looked for a home you could afford. However, there weren't the scammers we see today, it's become way more complex and sooo corrupt! If you were lucky you got a Land Contract at 11%, few and far between. Or you opted for variable rate, a real deal in hindsight‼️
WHO CAN BUY A HOUSE? Inflation has practically doubled thanks to Trumpden.
@@cavemantero Tell me about it. When I bought in the 70 s my interest rate was 12%, my husband was in school and I was working barely above minimum wage, no insurance or other benefits with a toddler. Those were brutal years. I feel for anyone trying to buy a house right now. Interest rate is good but very little affordable. My hindsight advice still stands though.
Just know that inflation comes and goes and you’ll make it work somehow. I feel optimistic if we can stay on the track we’ll be fine. So many times I thought it was the end but the sun always came out eventually.
cavemantero. People like you with that mentality are the problem because you vote for these idiots. We had NONE of these problems until Bye Done got in office.Wake Up! Get out of your cave man.
No its because of Harris and Biden they're the ones in office when Trump was in inflation was way down
I work as a junk hauler in tampa. I am seeing so many people doing moveouts and they are leaving Florida. They can't afford the cost of living or the heat
Read a report this morning that in the last 7 years, over 1 million people have left California. Inventory is low yet the home values and rents continue to increase...
Where are they moving to ?
Do they need to sell their home, lol. let me know!
@@chriswebb4797 yes they do. Maybe I should become a wholesaler
@@ElleJae-b9qProbably the Carolinas.
Freddie Mac made some really detrimental contract changes during the 2008 recession, it was beyond predatory. There are some very bad people involved in trying to acquire our homes the minute we have any problems. Good luck to everyone, the sharks never sleep and are never satisfied.
Blackrock
I’m feeling nauseous 🤢.
Restrict Big Invesors & Hedge Funds from taking ownership of Residential Homes. Let's go back to the days before 2008 Subprime disaster..
The biggie for me was to completely remove all debt in my life. I was able to retire on a beautiful 32 acres of property in rural Kentucky with a great shop building, nice house, large century old barn, for cars and everything is paid for. Am I only source of income is social security and a couple hundred dollars from a small pension a month. My monthly living expenses are roughly 1/3 of that. And one of the keys to this plan was to move somewhere where our real estate taxes were low, which is what we did. My real estate taxes are roughly the price of a loaded medium pizza every month.
By the way, because my income is from social security, we pay new income tax anymore. I cannot emphasize enough just how freeing that is. That coupled with being debt-free completely changed my life and my perspective on life.
For the better.
I highly recommend it.🙂
By the way, I consider public schools to be a 19th century paradigm that outlived his usefulness at the beginning of the 21st century. Its primary function is to supply free day care to parents who have sold themselves into indentured slavery.
How do you not pay tax on Social Security?
@@ericaschemeyer827 well I paid taxes when I earned it. But the way taxation on social security payments works is that you get to knock about 50% of it off and then you take the standard deduction and your income is so low that you don't have to pay taxes. And I live in kentucky. It's an income tax state but if you don't pay any income tax on your federal tax return you don't even have to file a tax return for kentucky.
😂 I love how people who more than likely went to public schools, now have such a different attitude about them. Public schools in many places give a better, more rounded education than many Private schools.
I'm happy for you living where you are, debt free. You get what you pay for in most States, in the USA. I pay more in the State I live in, and that's ok too. To each their own.😊
@@ReasonablySane good plan unless social security runs out as projected in 2035 which is basically only 10 years away. Do you think gov will fix that??
@@beckyheinz7337 yes, public schools, where they purposely don't teach any finance or investing. Just to balance a checkbook.😂
Can someone please help me understand something. I don’t understand the end game of the investors, banks, and corporations for owning these homes. Once they price everyone out of their homes, what purpose do all these empty house serve? Is the goal to force everyone to be a renter? If so, why do they despise private property to this extent? Please help me understand. Thank you
Because the left views their grand experiment with the vigor of a religious zealot
It's always been easy to take advantage of the public because there's always new people to take advantage of.
A sucker is born every minute they say
Educate your Children and Grandkids!
Plus they keep changing the rules to confuse us.
And no shortage of greedy, corrupt, & unethical people to invent new ways of doing it.
And a corrupt person goes to hell every second for their lies and deceit!
The only thing keeping USA government from crumbling is the lifelong college educated debt, they push on students. Due to the high interest, in 10 yrs of paying on 100,000 debt you will still owe 90,000 dollars, due to compound interest, fees. All backed by government money. Trillions is owed by college educated. Go to community college, do an online degree, so you can work. Do a degree that enables you to get a job that the job markets require! No gender studies, no art degree, no social studies, women studies! Look at what job sectors are looking for from degree holders. A.I, cyber security, computers, engineering, electricians, construction, plumbers. A skill for life. Don't start your life with upto 400,000 dollars of debt. Not in this terrible economy!
Student loans aren't high interest rate especially federal loans. Cope harder
ya i had seen this back in 1977 when i graduated from high school and why i only had gone to jr college for only one year then left and jsut started working but i all most signed up for the airfoce and i wish i had signed on thee doted line back then. but i am still debt free. not a slave nor do i go to the alter of fico score at all like lot of fools are doing now days.
Best advice
Property taxes should be optional if not outlawed. The people should own their homes without government interference, forced/coherced taxation.
I agree it's a scam. With no insurance the home owner is 100% responsible for repairs or replacements. If their ok with than so be it. But no, I'm forced to constantly pay for something I don't need.
As Much as I Hate It. You Stll Want Garbage removal Snow Plowed Streets Not All PotHoles BUT WHAT They Charge and HOW They CHARGE IT Should Be OUTLAWED. BUT THEN HOW WOULD DUMBASScRATZ 🐀 AND RHINOS 🦏 Support All The WARS and
The reality is, there has not been a housing shortage for decades. There has been and is now about 13% of all housing sits unoccupied in shadow inventory. I live in Southern California and I drive by dozens of homes that haven't been occupied for a decade or longer. Nearly all are consistently maintained. England has dealt with this by having a bed tax, a tax paid for every vacant bedroom. Apparently, some people like to collect homes.
The new multi family units all over are vacant in SoCal … I’m totally confused
@@JC-dt7rn So. Cal real estate has been highly speculative for the past 100 years. We go through boom-bust cycles every 10 years or so. We were in a boom cycle prior to, and all the way through the pandemic. High interest rates have pushed out those who need a mortgage. Owning is much more costly than renting now.
And there is no land shortage either!
@@jenniferflynn7168 You are absolutely correct. Only 3% of the land in this country has been developed for residential or commercial real estate. Realtors always give that "God's not making anymore land" pitch. Making affordable homes have never been easier but they won't because that's not profitable. China can build 10 3D house shells in a day. They would still need the finish work, doors, windows, flooring, electrical, plumbing but they are vastly cheaper than a stick built home.
Air B and B ?
Nice work, Sachs Realty! Ms. Wright is an outstanding housing analyst.
I was a victum of Dime Savings Bank in 1988, charging interest on interest, and you owed more theb you borrowed because you added to your princible. They ended up foreclosing about 7 years later. I bought my condo for 120k in 1988 and a few years later the market crashed and the builder went bankrupt. Same condos sold for 55k at auction. I have been in the horrible world of apartments ever since and pray for a little place of my own. I have been watching for a crash with a hope of buying.
I think you're about to be in luck. Just have to not repeat t hat scenario again
The idea that any government agency can unilaterally approve a regulation of this magnitude without any congressional approval is nuts. The risk will fall directly on we the people. This is the height of a moral hazard.
Our country has moved far away from the Constitution.
The USA did a trick ages ago, it isn't a Democracy but a corporation. It is all rigged. The same corporation also went bankrupt. ALL US Citizens were declared enemies of the state in 1933 and never lifted, and the slave deal? They wrote in an exception; we are all slaves. Welcome to the lying USA.
Congress is bought off by these guys so really doesn't matter
People need to live minimally and save the roof over their head. Government Hurting its population in the long run hurts the government as well. Why they keep saying this election is the most important one back to freedom.
.gov could rule by edict:
"Effective immediaely, all mortgages become assumable, non-qualifying, non-escalating"
problem solved, for now
Realtors in San Diego are encouraging multiple people to join their incomes to purchase their homes. A home across from me was purchased by 5 people to qualify for a mortgage. Their is at least 20 people living in the 4 bedroom home. I spoke to them and they told me them sleep in shifts, so people work nights to make this arrangement possible
Not gonna say what I really would like to say about 20 people living in a 4 bed home. Most immigrants I have seen do this 20 yrs ago.
If that was a rental in AZ, they would be limited to 2 people per bedroom by state law. 20 people owning together is a BAD situation, both for the “owners” - good luck getting yourself out of that deal, and a bad deal for the neighbors
Are they forcing people to do this?
Third world 🌍😢
Keeping the sell prices propped up.
You 2 are very very caring people and any one who listens to this will appreciate the kind of people you are❤️
Thank you both for raising the awareness of the elderly who are suffering with Medicare and cannot afford the supplemental health care as well as the homelessness issue due to not qualifying because they have worked their entire life but medical costs are swallowing all their savings.
I have seen so many people suffering and it is so sad to see in this country.
Thank you both!
💯💯💯💯💯
Our medical costs for premium, medication and copay are over 600.00 a month. We are both in our 60s. My husband is disabled and I can't retire as everything price wise has skyrocketed. I'm exhausted and sorely disappointed. I dreamed of the day I could retire.
But Biden's Newcomers have excellent free health care
Used Car Dealers have been doing this with the used car market for decades - Buy Here - Pay Here, repo later and resell the car again.
owner financed ANYTHING ... owner financed land, repo later and resell dirt, again ...
I saw some crazy stuff in my career. My ex boss , who was an ex WAMU regional VP, went to work for shoddy lenders office unknowingly and quit within 2 weeks after he found drawers and drawers of unrecorded mobile home deeds. Some of these companies are absolute crooks.
100% manipulated, 100%...
What a fantastic interview. Everyone should listen to this.
Since I’ve been in Real Estate since 1984… a private lender, mortgage servicer, flipper, multi-family owner… this is a great podcast. I do have a hard time accepting that we don’t have a housing shortage… in my area. As they say, real estate is local. Can’t speak in general terms.
Didn't the WEF say you will own nothing. No matter how they handle the loan with increasing property taxes and the ability to control the weather you will see man made destructive weather to make insurance unaffordable and at that point you will default regardless of your interest rate or balance of your loan term.
The oceans are warming which is causing the destructive weather. Greenhouse effect
@@andrewlubbers3489as a geologist...complete bullshit
I've been saying for years the government has weaponized the weather, these are not freak storms they're man-made they have weather making machines call harp.
@@muddysneakers77 the oceans are warming and the weather is becoming more destructive. That part is real I don't care what your opinion is on greenhouse gases
Look up Haarp, weather warfare,weather modification and Lyndon B Johnsons 1962 speech on he who controls the weather controls the world.
The problem is greed, This is a sin, This is man's destruction, This generation gets to watch It in real-time.
Perfectly stated and spot on. All deception is now being revealed.
I get emailed every week from my loan company about doing a Cash out refi with a new rate of over 8%! 😂
We bought our house in 2018 with a 3% rate. I always knew these corporations and banks were the devil, but this video just opened my eyes to whole other level.
Great information thank you guys for what you do!
It's their solution to everything:
Debt! Debt! Debt! And more debt! 😳
People are Creditors, we cannot be "Indebded" .. We are the Creditors of the United States, they all Borrow from us, Wake the f* up... Start reading..
That's because of investor appetite for debt based investments.
Welp I watch Gregg Manorino.
"We run this system on debt, if the Treasury held Back 1 cent, the system would collapse on itself!" They pull $$$ from the future and inflate it away" JS
That is because that’s how money is created…..
Do you have a better solution like not make debt and fail to service the debt? Basically you want an economic crash? You need to learn how things work.
When we spend and get in debt the capitalist investor BENEFITS
Can't even afford rent let alone a mortgage. Elder millenial with student loan debt and car debt. I kept falling through ALL the cracks with relief, no 2020 big payday, no health insurance for the longest time - I'm still trying to recover from things I should've been healed from if I had healthcare as a young adult. Had NONE between 18 - 30 something. This system is broken.
The 18-30 year olds with student, car and no health care are trapped in a ‘ own nothing and be homeless ‘, sort of ritual nightmare now. My kids, and other Gen X kids, only have a chance of homeownership if we Gen X’ers die, and they are able to get a home by inheritance.
How depressing for these young adults.
I was a single mom making $16/ hr. Before the housing market inflated beyond belief, it was cheaper to get a mortgage vs rent. Check to see even if you cannot get approved for Medicaid if you qualify for a chip program
😢
This is capitalism! It doesn’t work for 99% of us!
Went 30-40 years without health insurance - nothing new - stay tough
The problem is the rich and corporations don't pay their fair share of taxes, then the money for Americas war mongering is to much.
This is insane and people keep falling into the debt trap….
63% home ownership in China and new student debt problem hundreds of thousands of engineers graduated annually.They take vacations and save 30%.But you better go listen to the propaganda and that will make you feel better because that sounds really bad
We must start realizing WE are the government, so WE own these govt-backed properties. It is time we claim what our tax dollars have bought.
How do we legally organize , grow and fight back? There were illegal shenanigans simultaneously going on.
You are not the government. Most governments are privately owned corporations of the Rothschild banking cartel.
@@libraryoneatl Its not legal to break away from your parasite. They have put ink to parchment declaring your enslavement to them as your only legal option.
Go to china for They can give you an example
We were never supposed to be required to pay for what was already ours
I think so highly of Melody Wright and Todd Sachs, so respectfully I want to add my own experience to the conversation….I am a wholesaler and a flipper, I routinely buy homes in various ways, all cash or taking a mortgage subject to, but I have always put in so much of my own equity either at the purchase or during the renovation, that I would never default on the seller’s loan
This is an unfortunate situation but society needs to start thinking for themselves rather than listening to so-called professionals...people are living way above their means and then when they start falling apart financially there is no accountability. I know it sounds harsh but it's the truth and until we understand this we will continue to be swayed into buying things we can't afford. The government/financial market simply preys off our stupidity.
💯!
If you look at the numbers for people traveling overseas and vacationing, it’s so much higher than in the past. Partially because everybody wants to be a travel influencer on RUclips. But people are spending like crazy. And the government not making them do that.
You can blame the situation on both sides, on the public and the institutions. But in my eyes, the problem is with the government and who ever is pulling the strings behind the scenes. Uneducated public is a result of decades of reducing requirements of what's important to teach young generations and the dumber the public the easier it is to take advantage of people. But ultimately what results when you have stvpid public is unrest, financial hardships and severely broken society. This is why this country is in serious trouble and time will tell if we can come back from this or not.
Great info Melody. Thank you Sachs realty for this interview. I will be better anle to understand the complexity of financing, refinance and mortgaging if a multitude of examples are covered. Dissected and with suggestions for recovery. I would buy that book immediately. A great learning tool and defense from the banksters and scammers. Even a few youtube videos of frequent frauds, mistaked made by the naive buyers. We, the besieged home ownering middle class need a learning curve and we need it now. By the way, l am not a homeowner at this time. But l am learning from you to navigate future home ownership. Thanks for your genuine empathy. 💐
I’m debt free don’t have any payments took some discipline and several years but it’s all worth it no longer a slave to the system
I was, too...until Hurricane Ian hit. You never know what life will throw at you.
Tell me your value is over three hundred and fifty thousand and you own a well.
DAVE RAMSEY Every Dollar App and do his first 5 things. Do not invest in government IRA,, 401K etc...these are slated to be taken away from everyone soon. Been planned for years.
If you transact in dollars you are still a slave
I was like that for years now I’m retired and blessed I have debt however I have it on my terms. At my age I’m downsizing and taking my money and picking a motor home to live in!
Exactly why I travel 9-10 months a year OUTSIDE of the U.S. At 69 years old I am not ready for a subsidized old folks home and I can’t afford to live in this country on my SS. I can travel / live in SE Asia or Latin America at 1/3 to 1/2 what I get.
Many people are doing this; because living in the US is simply not affordable!
Quit paying Your Credit Cards, after 7 years it falls off Your credit report. In those 7 years learn to live WITHOUT CREDIT……. Don’t ever stop paying Your mortgage!!!!!!!
You can get sued over credit card debt
Yes sir. Tell them again!!!💪🏼
Unsuitable people are being "shoehorned" into homes. Subprime loans, down payment assistance and ignoring the borrower's financial past, all play a role in this.
I’m in a first time home buyer’s group and you wouldn’t believe how many people have gone into their new home with $0 to their name. They spent themselves to nothing to get into the home or had nothing saved to begin with and was able to get DPA and closing costs covered and then they sign up for box store credit cards to furnish their home. Most of their sentiments are “well you have to do what you gotta do” “at least they got their house though, they’ll get a couple paychecks before their first mortgage payment is due”. Then you have a few people come and tell their horror story of how they had no reserves and XYZ happened and they’re contemplating bankruptcy, trying panic sell or face losing their home. It’s sad.
That's not a true profile of the current homeowner at all since 08'.
I saw a lady buy a home, then when the taxes were due the next year, she had to sell her home, they went up 300%.
Even worse are the folks who bought HOA homes, they are being stolen from Monthly!
Folks who bought HOA homes, they are being stolen from Monthly, Fees ever increasing I saw a lady buy a home, then when the taxes were due the next year, she had to sell her home, they went up 300%.
Sixty three percent of the chinese citizens were deemed worthy of owning a home and some of them on two and more
My county raised taxes (based on the increase in housing value) by 150% I can't get 150% of what I paid for my house if I sell. HOW does COLA only increase by 10% over 4 years while food and housing went up by at least 150% ??
Yea hope someone shines light on this issue. Property tax is getting ridiculous
My property taxes up 300%, home value up 80% over 22 years.
The COLA increases are based only on what the government decides to include in their numbers. They have sneakily been removing from the Consumer Price Index calculations items that actually contribute to inflation. Coffee too expensive? It’s no longer included in the price of groceries. Etc. Thats why your actual inflation experience is much higher than than the CPI would indicate.
not sure where you are getting 10 from, if you are in the USA the official average inflation from 2020
to 2024 is 21.4 percent via cpi data. real estate isn't necessarily priced in yet, because they calculate based on the cost of the rent people are currently paying, or the price people would rent their home out for. people locked into lower rate leases and mortgages. so the actual cost of switching homes or apartments for a similar one isn't factored in until enough people do it. like my rent is 1k/month for many years now but to switch apartments for a similar one at new market value might be 1.5k/mo. property taxes aren't included in the CPI because they are hypothetically included in rent or owners equivalent rent in order for the rentier to turn a profit.
@@EmilyPorter cola was the following
2020=1.6%
2021=4.9
2022=5.9
2023=8.7
2024=3.2
so depending which four years somewhere between 20.9 and 21.6 HOWEVER medicare costs ATE over half the increase
My check increased by less than 10%
First, great content! Thank you! What I struggle with is how are regular people supposed to get their heads around all this?
if you have to take equity money off your house. you should not be owning a house. as far as being a debt slave goes…..
look at how much houses cost. now ask: why? because there is very limited inventory on the market.
why? rich people foregin and domestic are buying all the properties and nixing
middle america out of owning real estate creating a modern day defacto slavery society.
interest rate changes will qualify a handfull of people into ownership. but the masses will still not be able to buy houses.
the real estate market is not in a bubble.
three things need to happen for real estate to be affordable for the masses of median americans:
-ban foregin ownership of us property.
-limit the number of properties an american can buy.
-eliminate land use permits.
none of these were issues in the past.
but they are now.
whats the solution?
In the old days, the majority of homes went up in value because worker's wages increased. WA state limits permits (especially in the Seattle area) for condos, townhouses, and single family homes. Massive apartment complexes are being built for the increasing number of people who cannot afford home ownership.
@@gregjock7238 This problem occurs mostly in major US cities. Owning a house in a more affordable area and paying off the mortgage is key. Only use equity money when you can pay it back as soon as possible to avoid the higher interest rates.
that is your proposed solution?
not going to work.
the more affordable areas are rural and away from the cities where the majority of the jobs are. and they still are not affordable enough for the masses.
the solution is as i mentioned in the original post.
-stop allowing foreginers to buy american land.
-limit the number of properties americans can buy.
-eliminate land use permits. these three things choke supply from the market and
and make housing unaffordable for the masses.
Property taxes going out of control 😂
...And you are f ing laughing??
This is all being engineered. Property taxes are the only way municipalities can afford to service their debt obligations. Once people are forced out of their homes due to unaffordable taxes corporations will swoop in to buy for pennies on the dollar. There will be a great reset on property values, cities will file chapter 11, debt obligations will be rewritten and everything will be privatized and owned by those same corporations.
@@burmy1552facts
@@burmy1552except that government does not need taxes to pay for anything; they just print more money and the inflation is just passed on to the tax cattle.
That's because they need to 2x to support the infrastructure they use. When it comes time to fix all that 25 years in, the city/town needs to be bailed out by the Federal Gov, IE: you and I
I love how everybody tries to make sense out of total chaos.
Wow...this actually makes sense. Ive not seen it with this lense. And actually im almost doing the same thing. My neighbor is selling his house. I told him id buy his house at market rate minus realtor fees. He agreed and now we are brokering outside the MLS. Im sure this is happening at a MUCH MUCH larger scale
Nothing new. I was a realtor 3 decades ago and, For Sale by Owner was a thing even back then. Lol
This is basically a real estate outrage channel
@@IMSiegfried True, I could not find any linear thought in this video, just a rant about what the government should do (regulate subto and outlaw second mortgages) and pout about the lack of affordability in certain areas (which is probably caused by regulation).
Melody is incredible. She is right on the mark. Great show. Thanks!
Question: Kids bought a house. Realtor convinced them to take a grant that drops off if they stay 10 years. Loan gets sold a month later. The new owner of the loan said they have to pay on 1st and 2nd mortgage. Grant is actually a 2nd mortgage. Do the rules for the grant change when the mortgage is sold??
So corrupt. So very corrupt.
Corrupt industry, absolutely correct!
Both of you are so on point, great content!
Our government does not work for the taxpayer anymore.
Did it ever?
Then the tax payer should be able to quit paying
They never have, Sweetie,all about greed.
Wow! The scammers are always coming up with new ways to steal money.
You should do a weekly show based on basic finance.
Love Melody. Thanks for the honest, compassionate conversation.
Thank you for such good information.I am senior I thought about a home equity loan but at the last moment I backed out and didn’t get. How safe is a home equity loan now at this time?
Thank you so much for inviting Melody Wright to your program. She is accurate!
No problem with immigration that’s legal or we know who’s coming in- years ago we used to give many many work visas to Mexican immigrants who would like to come work here and then had to register or go back and check in basically and I’ve never understood why did we get rid of programs like this??? We really have done such a bad job with all of it and it’s gotten completely out of control. All countries have illegals pouring into America- I call these ghosts because they are. They commit a crime? You can’t find them- you have someone who affects your life, your family- your country- we can’t chase them down. It’s terrifying to me and I don’t live on a border state. Absolutely ridiculous
We should be more like Poland, 0 undocumented immigrants and 0 crime.
The dems will never give illegals citizenship. The moment that were to happen, they would vote them out of office. That group is only useful under the threat of deportation.
Totally agree. Our government is systematically bringing in and allowing illegals from all over the world and then paying them to be here. This has nothing to do with immigration. It infuriates me that she is using this platform and speaking about it as if it’s an immigration issue. Someday we will all feel like border states. Even in the hills of Tennessee.
That’s still exist.
This is so predatory! How is this legal! 2008 a modification took my house! They made me 3 months late to qualify then would not approve my modification and it took 2 years to get them to just let me pay it back up to current and took my money and applied zero dollars to catch me up! Mind you I was current for 8 years and they said they could lower my payment but I had to be 3 months late. I sent my payment in because I was not comfortable doing that and they sent it back to my bank! They essentially stole my home! I have no desire to buy another home
😮
Love Melody, so glad to see her as your guest!!
I love the analogy where Todd referred to cashing out your home equity as being like crack
Melanie and Todd, we have a $163k mtg with more than $200k in equity. We ended up with 5 credit cards & an rv loan totaling in more than $40k in extra debt. Our mtg interest rate is 2.75. Our lender is offering us up to $50k in a home equity loan at 7.5%. Our credit ratings have dropped because of the credit card debt, so I'm doubtful that we will get that 7.5% rate. Our property taxes here in Texas are being adjusted every dang year! What can you advise?
I’ve driven through these type of communities in parts of Florida. I have no doubt they are running the same scheme you mentioned in the video. Thank you for bringing this to an audience. So few people really have an idea of what’s going on out there.
There may be something felonious happening here, but maybe people are tired of MLS and realtors in general. Realty is sorta a crime itself in general with regard to how much an agent makes from each, short, transaction, essentially stealing, large percentages from people’s home equity that they built over an entire lifetime. It’s time we promulgate against reality as an industry. No, real estate, “service”, should be more than a $5,000 fee EVER. All of a sudden millions of agents would get real jobs if their service was adjusted to what it’s actually worth and not protected by fascist lobbyism.
You don’t have to use a realtor.
@@laura-zu4yz I know. But it sounds to me like the crux of the, “problem”, here is that people are not using realtors and, “should be”, because it would save them from being taken advantage of. I just think the solution and problem are equally ironic!
Melody You are an absolute Angel Thank you for your dedication!
No one compares to Melody, wealth of knowledge, honesty, cares about people.
Incredibly instructive info about the ways in which folks can become debt slaves. Wish Melody were on national broadcast TV and in national print media as well as on RUclips. Thanks so much for helping to educate folks, Todd and Melody.
I listened to Melody 3 times now. I'm wondering why this scandalous debacle is not HEADLINE NEWS‼️ Wake up citizens or be damned 🫣
The irony of extending borrowing privileges to the public when the Corporatocracy has been defaulting, reborrowing and walking away from debt without penalty for generations. It's about time that privilege came down to Main Street!!
American citizens taxpayer's dollars has been paying off corporations tax write offs at their bank's for decades. It's finally exposed and everyone caught in. This is for corporations ONLY not AVERAGE working JO STIFFS we are FORCED to be thrown in streets by banks if we can't pay (not by intent either like corporations they have the money) . Greed taken over WORLD for EVERYONE TO FINALLY SEE WITH NAKED EYES. Worst is yet to come, wait till the election (they save best for last) for WORKING STIFFS that hasn't lost their jobs to ROBOTS (literally)😢😢😢
Your channel keeps popping up, and the videos keep getting watched. Subbed today, may as well make it official! Thanks for the great guests, great insights, and educational content!
New plan! This plan has been in place for decades.
Agenda 2030
💯
@lrich65184 I completely understand.
I thought it would improve cause I have over the last twenty years, but nope.
They want us living in poverty
This story is amazing. How many houses are sitting empty in the US?
On the nurse whose husband just died, my condolences, but I don't understand how she can't get a job? There is a shortage of nurses almost everywhere in California.
It's probably not the job she wants. Beggers can't be choosers
Excellent observation
Or her and her husband planned on all the things they would do when they retired, they finally retired, he unfortunately passed away, and when that happened, if legally married, the surviving spouse doesn't bank both checks, they must pick whichever one is larger, because one can only pick one. I'm not an attorney, but I am angry that we have to gamble this hard between money and benefits we have vs a ticking clock.
@@pambuchanan6358exactly, you can’t use both salaries in consideration of purchasing a home because if one dies, 50%of that projected income is gone! People need to do their research before making such a long term commitment.
Try being an old nurse… it’s a young persons game
I'm going to have to listen to this more than once...
Same
Predatory loansharks.
Same here
This is my second time. It is starting to make sense.
Most of our corporate banking clients were GSE servicers. Yes, the servicer FCLs and after the court ordered sale, they deed it over to the GSE. If the paperwork isn’t perfect that servicer is required to buy back the home. They called it a repurchase.
The American Nightmare: You will own nothing and be unhappy
"I owe my soul to the company store!"- 16 tons
Facts 🎯🎯💯💯