We should have reciprocity laws regarding other countries. If it’s illegal for Americans to buy real estate in a particular country we should reciprocate in kind.
Doubt that will happen, the taxes from sales are what drives our politicos wild desires for yearly revenues. So foreigners flocking in ready to buy will have full freedoms to scorf up properties to out bid US citizens.
Mexico does not allow foreigners to own properties near the beach. It goes into a trust held by the bank in Mexico. They get the high prices in cash, very few mortgages in Mexico, and they still protect their country from being overtaken by foreigners.
Many, many countries either flat out disallow, or have very strict limitations on foreign citizens buying property. It's only sensible to protect the native citizens. Canada, Mexico, most of Asia, etc.
I’m a boomer and bought my house in the 90’s and though I only paid $65,000 for it, I could barely afford it at the time. I never considered it an investment, just a place to live that I intended to pay off by the time I retired. Now retired not having a mortgage payment or rent payment is the only way I can make it. It’s not for sale because I can’t afford to sell it. I suspect a lot of boomers are in the same situation. None of my other boomer friends are real estate investors either.
Exactly. Sour grapes blame us for everything. It wasnt ever easy for us (boomers) to buy. Lots of houses had 2 working parents who werent home w their kids. No one had motorhomes or expensive boats and only dreamed about being able to buy a NEW car bc we paid cash mostly. The Generation Mike talks about invented the word BLING. They think buying a Tesla is like buying a loaf of bread. Then has the gall to say "we" lucked out? We missed out, until we turned 65. Woohoo. The Govt caused the inflation & bad parenting caused the spoiled kids of today.
I'm a boomer. Bought my first home in 1986 at age 30 for $65K near my job, 3% down, FHA loan with PMI. It was my only debt ever. How did I do it? I did not buy my first (used) car until I was 37. I took the bus and biked everywhere, which is next to impossible to do today.
Bought my first home in 1988 for 36,000. Payements including tax and insurance were under $400. Lived on one income. I think I made around $16,000 a year back then. Things were tight; I was a single parent, but I made it. Breaks my heart that my sons have no opportunities to buy a cheap starter home now. There aren't any. So they rent at outrageous prices...
They aren't building cheap starter homes anymore either. Everywhere I look, all i see are expensive giant homes. And I know they are junk with how they are building Hines today..I expect them to be falling apart in 10 years.
I'm 40. My father is busting my chops to buy a home so I broke it down for him just how screwed over my generation is for owning anything. I make double my fathers income adjusting for inflation, I could buy now, but I think it would be very stupid, things are so unaffordable you cannot make mistakes.
If you have a family. Just bite the bullet. It's not like you'll move anytime soon if you have a good family. If you're going to get divorced then you're screwed. If you're single. Love out of a can down by the river and bling out your new mobile home. OnlyFools would say I'm wrong about this.
Every few years in the U.S. the real estate market has become a game of musical chairs and the people now who need an affordable place to live either renting or buying are left with no place to go because the music stopped.
Just insane. My house is 60 miles out of Chicago and has doubled in value in last year alone. It's nothing special except that's it made with solid quarry stone. I really think I over paid for it! There is no real free market anymore. Most of the homes in Florida don't look worth over 70k to me.
I found a really nice house in Lake St Louis for sale. I could swing the price at 275K but the prop taxes were four thousand a year! for Missouri! A year comes round pretty fast at that rate. BS what's going on.
@@taroman7100 you are correct. The property taxes in some areas are ridiculously high. That's another thing to consider. Look at the area and the town/city in it's entirety. What is the city and county spending money on? Check out the meeting minutes to read what they've spent money on in the past. And what they list as their future vision, development plans for residential and commercial, scheduled infrastructure updates, and financial plans. It can assist an individual in deciding if that area is something you can support. Something you don't mind your taxes going towards. If there's ongoing frivolous in your face spending waste, then that too can help you decide if it's enough to decide to look elsewhere in your area.
Like California wants people to buy Electric cars but they don't want you to charge them because there is not enough Electric energy in the Electric Grid? What a Joke!
Love your travel series. I'm local South Floridian and watch all your Miami based shows, but this is a nice change of pace. Keep up the good work. You are so talented.
Servus Michael I cannot imagine my morning without your voice. I was working my ass to buy a flat in the mountains from my hard earned cash and now I’m renovating slowly but surely still without bank’s help. Greetings from Austria Michael, keep up what you do you are the best at that for sure
I took the equity from my last house after my husband passed & bought a brand new Townhouse near my three kids. I am a boomer & I’m doing great. I did plan for my retirement & I am very fortunate to have a pension so with that & SS I can keep my 401K & IRA for emergencies only.
I'm a late GenX'r. Having the kids out of the house is a super saver. Especially when it comes to food and schooling. Made a major difference in my monthly expenses.
GenX here I had my kids in my 30s They're 10 & 16...I'll be 62 before my youngest graduates college. 😂 And yes they are expensive especially with GROCERY prices today. Insanity
I recently bought 10 acres, 10% under asking price. Its unimproved land and currently am trying to now save to build a home on it. Hopefully in the next 2-3 years
Thank you Michael for taking your time to work and bringing us the latest updates in the areas that you’re going through. No need to apologize for not getting back to the comments. Enjoy your trip and safe travels to you and Lisa. Blessings, Carlos ✝️🙏❤️😊🇺🇸
Thanks for the great updates and info Michael! Stay hydrated in those dry states until you get to CA! It looks like that NM neighborhood definitely doesn't have an HOA
Michael, WATER, don't go anywhere with out it. You are sweating but it evaporates unlike here in FL so you don't notice it and can get dehydrated very quickly. I live in FL but have property and spend time in AZ so I do know what I'm talking about.
That makes no sense. The higher the humidity the less your body can dissipate heat due to the lack of evaporation. If you are sweating and it evaporates quickly your body is getting cooler which is what happens in low humidity. This is basic science. Higher humidity equals less ability to dissipate heat given the same temperature.
@@MrRevell111 Which is exactly what I said above. In NM, AZ, etc. you sweat but do not realize it because it evaporates. Unlike here in FL where it just runs off you/ Floridians know to drink to replace that water loss but ma not realize the lass if their body is dry and they feel cooler than here in FL.
When Michael talks about Las Cruces New Mexico and a house for sale there, well New Mexico after Mississippi is by per capita income the 2nd poorest state in the union and other economic stats for the state are not much better. Las Cruces is mainly a retirement community with a branch of the University of New Mexico in it. Besides this there is little else but low wage jobs (and I mean real low) even with a population of 117,000. I lived in and near Las Cruces for several years and considering the neighborhood this house is in for the average Las Cruces resident this price of $325,000 is still to high.
Welcome to Las Cruces, New Mexico. I have been a resident here since 1987. I invested in rental properties in the 1990's and am a younger baby boomer - recently retired. Your walk is through the Pioneer Park area of Las Cruces, a desirable older neighborhood.
Omg that’s where I went to college!!! I knew from the thumbnail you weren’t in Miami. So crazy I’ve been looking at homes in Las Cruces, I’m living in austin and I can’t afford a home here. I make six figures but the market in austin is ridiculous for a single person. I live in a high rise and pay $2300 a month but at that rate I could own a huge affordable home in Las cruces. Las Cruces is a great place, small with friendly people and great weather. I miss that place! Love this video and it’s so true. My parents bought a home in 1985 for $55k and had a $545 mortgage. They could afford it as blue collar workers.
As a baby boomer, a house was easy to buy and afford with just a regular job. My first house I bought at 24 in 1986 in Clearwater, FL, for $59,000.00. I bought another house in Clearwater, FL for $72,000.00 in 1992. Those homes now sell for 400 grand and up.
I’m right there with ya . Bought my first house in 88 30k. Bought a bigger one in 94 60k. Bought the house I’m in today for 73k. With a pond and elbow room . Today if I sold it it’s a 750k home. .. the income in our area locals can’t afford it .
Long story, but I'll be brief. We bought a foreclosure for under $50k in Georgia, 13 years ago. It only needed a few cosmetic upgrades and that's it. We can get about $320k now, but we're staying.
I grabbed three foreclosures in '86. Sold one for a quick $19k profit. Went from a $53k new first house to a $219k new custom home in under 7 years in the 80's. All with double digits interest rates. Them forcing EVs on us means that they don't make sense to own.
Tuition at state colleges is not expensive if you commute. The crazy prices come in from private, out-of-state universities and having to board on site. You can get a college degree for quite cheap.
Yes. My son is doing this now. Plus the Hope scholarship pays for most of his tuition. He’ll have his degree in a year and won’t have any student loan debt.
What's much worse is the institutional investors. They have been buying up half of the houses for years. The government needs to make that illegal!! That will actually fix the real estate market. You can't do anything about one generation buying houses.
Sometimes the reason for a no sale is a serious inspection finding, structural or other. This is common in my area due to marine clay and termite damage.
Come through Breckenridge Colorado! Would love to see your take on the mountain resort town real estate. Can give you the tour of the neighborhoods around the area, I am a custom home builder.
I wonder if Michael will see Skid Row, L.A.,the long line of rv's and all the tent encampments around the Westcoast cites? He's in for a shock if he does!
He spent quite a bit of time in california last year and recorded his channel from there. He commented quite a bit on the Homeless situation. So what's your point?
I like hybrids for that reason but the idea of getting rid of all the maintenance associated with an internal combustion engine gives EVs a lot of appeal.
Stop in Buckeye/Goodyear/ Surprise area on the way back to Florida and see the thousands of new homes, apartments and tiny rental home communities. The amount of new construction here is ridiculous.
The u.s. population has almost doubled since I was born. It is a different country. Baby boomers have taken everything in their path and leveraged the rules in their favor so wage earners are screwed today
People don’t talk much about the impact of population growth, but it’s incredibly corrosive. They aren’t making more land, but we’ve been making more people my whole life.
Ca Boomer Here, Owned 4 homes own 2 now one is a rental, all paid off .I have 0 debt lots of Toys . Worked hard retired at 57 now Im saving 50% of my income for a airplane. I am Impressed you driving so far in a day .Keep op the good work...
I Love the video Michael. One thing I want to mention is that one must buy a rental in a better location. I Know people will rail on Me saying well You can get bad tenants anywhere which is true..however..It's REALLY difficult right now as I'm finding bc most people have a criminal record of some sort. I Don't care if a candidate is 36 and stole a car at 19 or shop lifting at 22 but Domestic, Rape, Murder, Physical assault, hard drug convictions - No Thanks. I'm finding this now. The decay of morals Is effecting this business on some level. And in PA if a tenant sets up a meth lab in your property - It get's condemned until an investigation ensues - guess what? If You have other tenants or say You live in one apartment on Your rental? You Must vacate. Now You've lost your home or your tenants have and You STILL have to Pay All the expenses. I'm not a fan of real estate as in addition the landlord tenant rules lean HEAVILY in favor of the tenants. This used to be a Lucrative business but it's less and less attractive now. Thanks Gov.
In Los Angeles County, cash buyers swoop up all the great deals! Has been like that for years! When newlyweds put down a good offer on a home a cash deal steals it away!
The housing prices are going up faster than any working person could save. I feel exceptionally lucky I started investing in my early 40s and compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly blue chip stocks, bonds, mutual funds, REITs and ignoring the noise of the financial media. ever grateful to Trisha Jean Webb my F.A... Now house and cars all paid off and no other debt.
I'm hoping for the housing market crash. I did look up your FA and I'm impressed with the reviews, very remarkable and transparent. I hope she is open to assist me.
Another property insurer is dropping coverage in Florida. Farmers Insurance will stop writing new business and not renew its existing “Farmers-branded” automobile, home and umbrella policies in the Sunshine State, the company said Tuesday. July 11, 2023
Landlord here in NYC and Westchester County - all I can say is the UPSIDE dwarfs the downside - however it should be noted that imho it’s impossible to do what I did since 1978 today - I’m not a seller and I never ever have a vacancy
You are just two hours away from one of my best friends, who lives in Silver City, New Mexico. So fun seeing you make your way across the US! I agree that the houses in those desert areas can look nice, but then sketchy areas can blend in really fast. I wouldn’t want to buy in areas like that either.
I left Monterey California for.. GAUTIER MISSISSIPPI on the GulfCoast. It's prettier than Ocean Springs and cheaper too. Low insurance, low property tax, hip artist community, medical marijuana dispensaries, beautiful women. ❤ Could've moved anywhere.. Chose the beautiful Mississippi Gulf Coast and a little town called Gautier. Bought a dope house for 180k that wudda been 1 Million in Monterey County CA.. Michael, hmu on way back and do many folks a favor and show them Gautier Mississippi next to Ocean Springs. Nick Johnson on RUclips has a cool video on the Mississippi GulfCoast. People were blown away that this is Mississippi.. it's a hidden gem.
I do not want to be forced to buy electric cars either. I have seen them lined up for hours at locations across the country waiting in line to get charged. The time lost is crazy. I am for Hybrid by far!
I really do like the idea of the lack of maintenance on EVs though. No engine, very few moving parts, like a giant battery operated skateboard. So simple by comparison to a combustion engine. They really should be cheap to buy when made at scale.
Great insights on the housing market! The housing affordability crisis is indeed a significant issue. The suggestion of spending more than 30% of income on housing might be a reality for some, but it's not a sustainable solution. It's concerning to see people resorting to second jobs or cutting back on essentials to afford housing. However, these shifting dynamics present potential opportunities for those ready to invest. It's evident that the Federal Reserve's policies have far-reaching implications for the housing market, making real estate a journey of long-term investment. Amid these fluctuations, I've ventured into new investment avenues. Thanks to the guidance of a mentor, Mrs Tammy Brockman, my portfolio has seen significant growth in just 5 weeks.These are indeed turbulent times, but as the saying goes, fortune favors the bold!
My increasing fascination with crypto led me on a journey of discovery until I encountered Tammy. Without exaggerating, she's truly the best. No empty hype, just genuine motivation to engage in crypto trading!
its the purchasing power of the dollar manipulated to go down...thomas jefferson said if we let bankers manipulate our currency our great grand children will wake up homeless on the continent their forefathers founded. another thing is the stupid property tax which you will have to pay. example grandfather buys house in 1965 for $18,000 dollars, ends up paying mortgae for 30 years where he pays over 100,000$ dollars. plus taxes every year on top of all that. after mortage is paid off in 1996, still has to pay between $2000-$5000 a year for property tax for that house. years down the road the 95 year old wife thats on social security barely can make ends meet every month. it gets to a point that the property tax cant be afforded anymore and the gov takes that house. if a house can be in your family for over 60-70 years and it can be taken from you because you cant pay $2300 property taxes for that year its time for a revolution. do you know what the definition of a mortgage is? mort - means death, gage -means pledge. so your mortgage actually means death pledge.
Las Cruces is a nice town, if you’re going to live in New Mexico. I was there, in Alamogordo, for 3+ years in my Air Force days (1981-1985). Beautiful natural vistas and adventures.
If you swing by Birmingham Alabama, the usual neighborhoods people recommend are mountain Brook, homewood, and greystone.. Skip those and check out Brook Highland... One of the best neighborhoods at a tremendous value (even after appreciable growth). Love the vids keepem coming ✌️
Thats awesome you were just down south from where i live in Albuquerque! The houses here are being sold within 3-5 days with multiple offers all over asking price. I'm 0/4 on offers this year.
Albuquerque is overpriced and there is so much crime. Just horrible. I lived in the East Mtns of ABQ. Did you know that the city has over 250 rough gangs? Probably more now because I've been gone for over 6 years. AND did you know that the Feds run the APD there? They did a documentary not long ago about that. It's the reason the crime is so high. Apparently someone didn't like the way the APD was handling criminals so the Feds stepped in and tied their hands. I wouldn't live there if someone gifted me a house. No way.
@@basha0810 *I* would buy in Albuquerque (ABQ)...but like in Las Cruces only in the NE part of ABQ (Wyoming East up to Tramway and across Tramway to the foothills -- High Desert woudl be NICE...but don't have a cool $1M+ for a home there. The Four Hills area would be okay, too. That's about it...unless you want it buy in one of the new/newer subdivisions in Rio Rancho out in Enchanted Hills, out Unser Blvd to the North, etc. Like pretty much ALL cities, there are good/bad parts of ABQ...you just need to be a local to know what's up there (or know a local to ask). -- BR
@@basha0810 Yep, I'm on the west side and it sucks. Lived in NM since 84 and found it to be a desert paradise. Once developers found us it was just a matter of time. they rape, scrape and turn it into anywhere USA. The homes are mostly cheap shit boxes as they moved away from the traditional frame stucco. In their wake they bought higher taxes, crime, squalor and destruction.
I am 59 and a baby boomer and never had a wedding and never walked down the aisle and never had a wedding registry to receive free gifts. I had a baby and his Dad died before the baby was born. I had no insurance policy at age 23. I raised a baby on one income. Nobody helped me. But I always worked and I have no IRA or retirement fund and I do not own a home. I am not your typical baby boomer. I have never dated or lived with anyone. I am single and still struggling financially. My parents dies over 23 years ago when I was in my 30s. I want to stress that I am still poor and not a rich baby boomer. I wish someone out there would help me find some remote jobs because I am getting older and being in traffic 2 hours a day is draining my energy. I hope someone can direct me to a remote job. I would appreciate it so much. Thank you
OMG, my wife and I are dying laughing at 13min. We are on Albuquerque and this us completely normal in almost all neighborhood's. We couldn't believe you went to Cruces over burque lol😅❤
I am a baby boomer, what ever that means, (Found all this names Stupid) no other country as an idiotic name like that for different generations. I own many homes all over the US, and Is one simple reason, we have more money and we worked harder then all newer generations as a whole.
I have sold homes through 4 crashes. To the younger viewers, please do not get too down on the housing situation. These prices are not the true value. When you study for a real estate license you actually learn that the true intrinsic value of a home is only seen after the crash. We will crash at least as bad as the last crash however it's a slow process over the next 5 to 7 years. People want to say it's different this time and it is not. The crash is coming from an overheated housing market where prices far out paced affordability, just like last time. Just be patient folks.
I just purchased 3 rental homes all cash. within 2.5 months, Yes 2.5 months. All signal family and tenant occupied. Memphis $50k 7day close, Jackson MS $25k 10day close, Peoria IL $32k 10day close. Just these three are making me $2300. per month The deals are out there.
Unsold new cars is not limited to electric cars, it's 60-90+ day inventory on many Ford, Ram, Jeep gas cars.. there's even trucks left over from the previous year as nobody wants to buy or can afford these $70,000-100,000 vehicles. The bonus with the EV's right now is companies like Tesla don't have any dealer markup, and you've got up to $7500 fed rebate, plus any state incentives and can seriously bring the price down on a new car to a pre-pandemic type price. Plus the main issue is affordability, nobody is buying these expensive cars with cash, and credit has tightened to where most people can't get the loans to cover those vehicles at a time when banks want nothing to do with inflated car prices as re-possessions are trending to all time highs due to non-payment.
I hate EVs also...will never get one unless I HAVE to...but that's the goal of the present liberal/green agenda gov't. And if Biden/Harris get re-elected means "4 more years" for them to get that and other socialist/climate BS done. -- BR
My dad had a house built there for 250k or something in 2007. He left it to the bank in 2009 once the neighborhood went underwater, and it didnt sell until 2014 for 120k
There are LOTZ of homes in many states for $45k-$125k. They are older & need work and Im buying. But Millenials wont buy one bc its not Kardashian worthy. Gotta have Bling.
Baby Boomers like myself, who grew up in a two-parent households were trained on how to maintain homes. I have never lived in an apartment. I bought my first home at 23 after graduating college.
Of the multitude of homes ive looked at with my wife, many boomers do not know how to maintain a house and think its worth 50-100k more than it should be. They must be looking to retire on the beach with millions to their name.
I wanted to share that I reside in a non-disclosure state. I have an in to get access to data that most people cannot see. It looks like sales are going to be down pretty significantly this next release. There is some significant confusion out there on the health and sustainability of the market right now. Just as some people try to inform people of the truth others continue to try to manipulate in order to continue with sales. But sales are down Texans, and this beautiful fact. as we leave the summer and go into the fall, I believe we’re going to see significant changes like this all last year. Most people share that sentiment, and I see nothing on the horizon that will prevent that from happening.
i pulled out a ton from retirement, as i predicted the market to tank. the trick is to pull out in smaller chunks on years where your income is low, and you can avoid a lot of the taxes. plus during covid, they waived the early withdrawl penalty and many big investors took that opportunity to pull out.
I hope you are heading to Nor Cal or the central coast when you get to CA. Here in S. CA we are headed to heat and hunidity. Next week humidity going up to 50% then 75% and temps at 90°. Not going to be fun. Check out the 10 or 14 day forecast for your destination areas. 🙀
My family consists of three Boomers and one Millennial. The Millennial probably has the greatest wealth of all of us: she received an inheritance from a deceased Boomer.
Boomers raped the economy of all it's resources and slammed the door on the way out. The American dream was meant to be earned, not inherited. But, thanks to Boomers deregulating the economy, unprecedented resources have been disproportionately given to the rich boomers at the expense of the younger generations. Millennials now get to watch as their lucky peers inherit the American dream from their greedy ancestors, while they are stuck working underpaid jobs for a pittance. Boomers regressed us back towards a pseudo feudalistic society where the wealthy lords pass on their castles through the generations, and the peasants work themselves to the bone without any hope for a better future.
If you’re traveling 40 West to I10 through Tucson/Phoenix to get to the beach cities in CA, get ready for triple digits. It’s 108 but feels like 112 today.
I lived 4 years in Alamogordo, NM which is about 60 miles away from Las Cruces. Its a nice little town, it was the closest place with a shopping mall so I went to Las Cruces rather often. One thing I hated was the dry weather and static shock. I had to start touching my elbow on my vehicle before I opened the door because the static was bad it would make my hand numb. But that being said I wouldn't mind living in that area again.
@CarlWithACamera 2002-2006, it was my first base. What was funny I came west and drove through Las cruces and thought this ain't too bad. Then I got to Alamogordo and my enthusiasm dropped.
@@qbanb8582 yeah, Alamogordo has very little going for it. But I was there at that time in life when we are all clones (we all had the same, minimal, experiences and so we had much in common). It's easy to make friends in college or the military because everyone is essentially the same, and so I had friends to bounce around with, cookouts and volleyball and capture the flag at White Sands, tubing at Cloudcroft, going to the bike rally and horse races in Riudoso, exploring the mines west of Oro Grande (highly illegal and off limits but that didn't stop us). Weekends going to the clubs in El Paso, trips north to Elephant Butte. Would I live there now, at age 60? No way. There's nobody there I'd have anything in common with.
As a baby boomer myself, I remember my dad telling me what it was like at the end of WWII. It was a boom time and THAT was what led to the baby boom in the first place. People could buy a house, a car, a washing machine. The lean times were over, the boom was on! It seems it's just going to get a lot tougher with each passing generation.
In Los Angeles, it used to take me 2 hours to drive home from work, a 33 mile drive. I work in construction 🚧 my work locations changes all the time. No, I don’t want to pull over for 30 minutes to refuel an electric car.
There’s a $7500 federal credit if you buy a new electric vehicle. I’m looking to get rid of my Audi sq5 to get a Tesla again because I’m spending 300/month in gas. I have a home charger built in already I just need it for a commute. I fly if it’s over a 2hr drive. I had zero chance to my electricity bill charging daily. To put in context, I had a Tesla for 2 years on lease and bought the Audi and turned in the Tesla a year ago.
We should have reciprocity laws regarding other countries. If it’s illegal for Americans to buy real estate in a particular country we should reciprocate in kind.
Doubt that will happen, the taxes from sales are what drives our politicos wild desires for yearly revenues.
So foreigners flocking in ready to buy will have full freedoms to scorf up properties to out bid US citizens.
Mexico does not allow foreigners to own properties near the beach. It goes into a trust held by the bank in Mexico. They get the high prices in cash, very few mortgages in Mexico, and they still protect their country from being overtaken by foreigners.
Many, many countries either flat out disallow, or have very strict limitations on foreign citizens buying property. It's only sensible to protect the native citizens. Canada, Mexico, most of Asia, etc.
I agree
The US is just full of S**T we give everything away even to those who had a hand in 911!
I’m a boomer and bought my house in the 90’s and though I only paid $65,000 for it, I could barely afford it at the time. I never considered it an investment, just a place to live that I intended to pay off by the time I retired. Now retired not having a mortgage payment or rent payment is the only way I can make it. It’s not for sale because I can’t afford to sell it. I suspect a lot of boomers are in the same situation. None of my other boomer friends are real estate investors either.
Exactly. Sour grapes blame us for everything. It wasnt ever easy for us (boomers) to buy. Lots of houses had 2 working parents who werent home w their kids. No one had motorhomes or expensive boats and only dreamed about being able to buy a NEW car bc we paid cash mostly. The Generation Mike talks about invented the word BLING. They think buying a Tesla is like buying a loaf of bread. Then has the gall to say "we" lucked out? We missed out, until we turned 65. Woohoo. The Govt caused the inflation & bad parenting caused the spoiled kids of today.
Exactly that's why I told him he's just jealous and to shut the fuck up..
I'm a boomer. Bought my first home in 1986 at age 30 for $65K near my job, 3% down, FHA loan with PMI. It was my only debt ever. How did I do it? I did not buy my first (used) car until I was 37. I took the bus and biked everywhere, which is next to impossible to do today.
It's all relative. Boomers bought for less money but salaries were also much less. It's like comparing apples to oranges.
@@ShalomShalom-d5cask a millennial what it costs to live now compared to your time. I dare you.
Bought my first home in 1988 for 36,000. Payements including tax and insurance were under $400. Lived on one income. I think I made around $16,000 a year back then. Things were tight; I was a single parent, but I made it. Breaks my heart that my sons have no opportunities to buy a cheap starter home now. There aren't any. So they rent at outrageous prices...
They aren't building cheap starter homes anymore either. Everywhere I look, all i see are expensive giant homes. And I know they are junk with how they are building Hines today..I expect them to be falling apart in 10 years.
@@carolbagwell6769
I agree. It's sad and infuriating at the same time.
Baby boomers who are better off and have children and are helping their children to buy.
I think there will be a flood of inventory coming. Already seeing vacant homes no one in them.
Wait. You paid 33% of income yet you would say today they can’t afford it? Hmmm.
I'm 40. My father is busting my chops to buy a home so I broke it down for him just how screwed over my generation is for owning anything.
I make double my fathers income adjusting for inflation, I could buy now, but I think it would be very stupid, things are so unaffordable you cannot make mistakes.
do it, its just going to be more money, you can refi later- there's no crash
If you have a family. Just bite the bullet. It's not like you'll move anytime soon if you have a good family. If you're going to get divorced then you're screwed. If you're single. Love out of a can down by the river and bling out your new mobile home.
OnlyFools would say I'm wrong about this.
@@capturethis69 Bad, bad, advice..
@@bigred7347agreed. Prices are going to go down in the next 2 years. Rent a beautiful home you want until prices come down
@@capturethis69Delusional! 😃😄😁😆😅🤣😂
Every few years in the U.S. the real estate market has become a game of musical chairs and the people now who need an affordable place to live either renting or buying are left with no place to go because the music stopped.
Just insane. My house is 60 miles out of Chicago and has doubled in value in last year alone. It's nothing special except that's it made with solid quarry stone. I really think I over paid for it! There is no real free market anymore. Most of the homes in Florida don't look worth over 70k to me.
Almost at 100k , I’m proud of you man. I followed you when you had 500 or so subs. Keep up the good work
I'd go in cardiac arrest if I had to pay $2k a month. I haven't had a mortgage payment in over 10 years.
I found a really nice house in Lake St Louis for sale. I could swing the price at 275K but the prop taxes were four thousand a year! for Missouri! A year comes round pretty fast at that rate. BS what's going on.
What do you pay in rent?
@@cookingwithadamkahnandlixu2718 Nothing. I made some sacrifices over 10 years ago to pay it off.
@@taroman7100 you are correct. The property taxes in some areas are ridiculously high. That's another thing to consider. Look at the area and the town/city in it's entirety. What is the city and county spending money on? Check out the meeting minutes to read what they've spent money on in the past. And what they list as their future vision, development plans for residential and commercial, scheduled infrastructure updates, and financial plans. It can assist an individual in deciding if that area is something you can support. Something you don't mind your taxes going towards. If there's ongoing frivolous in your face spending waste, then that too can help you decide if it's enough to decide to look elsewhere in your area.
@taroman7100 isn't that like Indiana the houses are 150.000 but the taxs are like 7 grand a year
Like California wants people to buy Electric cars but they don't want you to charge them because there is not enough Electric energy in the Electric Grid? What a Joke!
If Newson were to become president, the whole US would look like California. I'm in California.
cart before the donkey
Love your travel series. I'm local South Floridian and watch all your Miami based shows, but this is a nice change of pace. Keep up the good work. You are so talented.
Alot of Florida people moving to Mississippi.
Servus Michael I cannot imagine my morning without your voice. I was working my ass to buy a flat in the mountains from my hard earned cash and now I’m renovating slowly but surely still without bank’s help.
Greetings from Austria Michael, keep up what you do you are the best at that for sure
I took the equity from my last house after my husband passed & bought a brand new Townhouse near my three kids. I am a boomer & I’m doing great. I did plan for my retirement & I am very fortunate to have a pension so with that & SS I can keep my 401K & IRA for emergencies only.
I'm a late GenX'r. Having the kids out of the house is a super saver. Especially when it comes to food and schooling. Made a major difference in my monthly expenses.
That's great, because they are on their own and is less expenses for you. Do you own the house, or paying monthly mortgage?
How many Kids did you have?
GenX here I had my kids in my 30s They're 10 & 16...I'll be 62 before my youngest graduates college. 😂 And yes they are expensive especially with GROCERY prices today. Insanity
@@pearlperlitavenegas2023good luck to me then, lol.
they should have a job at 16 and pay for their food
One of your best episodes that I've seen. I'm 76 and I have done well as a baby-boomer. Keep up the great work!
Tampa here is crazy. Agents almost always asked buyers “escalation clause” to bid prices. Home prices are still high here where I live.
I recently bought 10 acres, 10% under asking price. Its unimproved land and currently am trying to now save to build a home on it. Hopefully in the next 2-3 years
Great plan, good luck..no better purchase than land
Thank you Michael for taking your time to work and bringing us the latest updates in the areas that you’re going through.
No need to apologize for not getting back to the comments. Enjoy your trip and safe travels to you and Lisa.
Blessings, Carlos ✝️🙏❤️😊🇺🇸
Michael you are flying across the country. Texas is a doozy ain’t it? Takes forever to get across. Arrive safely and we’ll see you in the next one!
Thanks for the great updates and info Michael! Stay hydrated in those dry states until you get to CA! It looks like that NM neighborhood definitely doesn't have an HOA
Michael, WATER, don't go anywhere with out it. You are sweating but it evaporates unlike here in FL so you don't notice it and can get dehydrated very quickly. I live in FL but have property and spend time in AZ so I do know what I'm talking about.
That makes no sense. The higher the humidity the less your body can dissipate heat due to the lack of evaporation. If you are sweating and it evaporates quickly your body is getting cooler which is what happens in low humidity. This is basic science. Higher humidity equals less ability to dissipate heat given the same temperature.
@@MrRevell111 Which is exactly what I said above. In NM, AZ, etc. you sweat but do not realize it because it evaporates. Unlike here in FL where it just runs off you/ Floridians know to drink to replace that water loss but ma not realize the lass if their body is dry and they feel cooler than here in FL.
❤ I'd love to live in California, just don't know where. Especially now that Florida is ruined
@@hideoussails1783 Yes, please go and take your blue vote with you. In fact, take as many of your family and friends with you as you can.
@@hazcat640 when did Floridians start becoming so mean and nasty? Who says I'm Blue?
Moron
When Michael talks about Las Cruces New Mexico and a house for sale there, well New Mexico after Mississippi is by per capita income the 2nd poorest state in the union and other economic stats for the state are not much better. Las Cruces is mainly a retirement community with a branch of the University of New Mexico in it. Besides this there is little else but low wage jobs (and I mean real low) even with a population of 117,000. I lived in and near Las Cruces for several years and considering the neighborhood this house is in for the average Las Cruces resident this price of $325,000 is still to high.
Welcome to Las Cruces, New Mexico. I have been a resident here since 1987. I invested in rental properties in the 1990's and am a younger baby boomer - recently retired. Your walk is through the Pioneer Park area of Las Cruces, a desirable older neighborhood.
What's the religious crazy situation in Las Cruces ? Ba'has etc ?
You're bringing the heat to California....
Omg that’s where I went to college!!! I knew from the thumbnail you weren’t in Miami. So crazy I’ve been looking at homes in Las Cruces, I’m living in austin and I can’t afford a home here. I make six figures but the market in austin is ridiculous for a single person. I live in a high rise and pay $2300 a month but at that rate I could own a huge affordable home in Las cruces. Las Cruces is a great place, small with friendly people and great weather. I miss that place! Love this video and it’s so true. My parents bought a home in 1985 for $55k and had a $545 mortgage. They could afford it as blue collar workers.
As a baby boomer, a house was easy to buy and afford with just a regular job. My first house I bought at 24 in 1986 in Clearwater, FL, for $59,000.00. I bought another house in Clearwater, FL for $72,000.00 in 1992. Those homes now sell for 400 grand and up.
I’m right there with ya . Bought my first house in 88 30k. Bought a bigger one in 94 60k. Bought the house I’m in today for 73k. With a pond and elbow room . Today if I sold it it’s a 750k home. .. the income in our area locals can’t afford it .
And it's only going up🎉?? I used to think the housing market was a scam. Now I know with out any doubt
Because boomers had it easy
Long story, but I'll be brief. We bought a foreclosure for under $50k in Georgia, 13 years ago. It only needed a few cosmetic upgrades and that's it. We can get about $320k now, but we're staying.
I grabbed three foreclosures in '86. Sold one for a quick $19k profit. Went from a $53k new first house to a $219k new custom home in under 7 years in the 80's. All with double digits interest rates.
Them forcing EVs on us means that they don't make sense to own.
Tuition at state colleges is not expensive if you commute. The crazy prices come in from private, out-of-state universities and having to board on site. You can get a college degree for quite cheap.
Yes. My son is doing this now. Plus the Hope scholarship pays for most of his tuition. He’ll have his degree in a year and won’t have any student loan debt.
What's much worse is the institutional investors. They have been buying up half of the houses for years. The government needs to make that illegal!! That will actually fix the real estate market. You can't do anything about one generation buying houses.
See the videos about hedge funds buying all the real estate. It’s scary.
Sometimes the reason for a no sale is a serious inspection finding, structural or other. This is common in my area due to marine clay and termite damage.
Come through Breckenridge Colorado! Would love to see your take on the mountain resort town real estate. Can give you the tour of the neighborhoods around the area, I am a custom home builder.
The high state income taxes will make up for those low property taxes.
I was going to post the same idea, NM is nothing more than a social welfare state.
Ranks 14th worst in the US for tax burden.
NM state income tax max rate is 5.9%. Not low but not the worst.
@@ericscottstevens As a rule of thumb, a person needs to avoid progressive states. Exception being Florida, seems as if everyone want to move there.
I know I always tell you this, but your videos are always well thought out and thought provoking. Thanks!
I love your channel. Thanks for the great content. Your show yesterday with Travis was awesome! I think it's great that you guys joined forces!
love this travel series that you’re presenting.
I hope he goes to San Diego and not sh*t hole LA
I wonder if Michael will see Skid Row, L.A.,the long line of rv's and all the tent encampments around the Westcoast cites? He's in for a shock if he does!
I'd flee California faster than anybody else. They owe you nothing
Heck it's in Texas and Colorado it's like a spreading cancer across this country. Wait till they put nusom in the white house in 2028 were done.
Oh like it's not at your city? I heard otherwise... Midwest is turning into a hotbed of crime and homelessness.
I hope not , we need him for this channel- Please stay away ⚔️🇺🇸
He spent quite a bit of time in california last year and recorded his channel from there. He commented quite a bit on the Homeless situation. So what's your point?
Yup Hybrid is definitely better then full electric. I went on a 800 mile road trip. Filled up twice and it cost $60.
I like hybrids for that reason but the idea of getting rid of all the maintenance associated with an internal combustion engine gives EVs a lot of appeal.
property taxes in miami with the cubans is $5000
Stop in Buckeye/Goodyear/ Surprise area on the way back to Florida and see the thousands of new homes, apartments and tiny rental home communities.
The amount of new construction here is ridiculous.
All those homes have a backyard the size of a table, all built right next to up and coming warehouses. Crazy
I hate that too! it ruins everything you liked about it. Developers destroyed NM for that reason.
What zip code? Arizona or NM?
@@clagueb3686 Arizona, 85355 is an example
@@clagueb3686 85326
Arizona
The u.s. population has almost doubled since I was born. It is a different country. Baby boomers have taken everything in their path and leveraged the rules in their favor so wage earners are screwed today
People don’t talk much about the impact of population growth, but it’s incredibly corrosive. They aren’t making more land, but we’ve been making more people my whole life.
Ca Boomer Here, Owned 4 homes own 2 now one is a rental, all paid off .I have 0 debt lots of Toys . Worked hard retired at 57 now Im saving 50% of my income for a airplane. I am Impressed you driving so far in a day .Keep op the good work...
What a great analogy on electric cars comparing them to VCRs vrs DVD players !!! Thats classic !!! Love your shows
Keep it going Michael ! .. Stay safe brother. Cali is crazy. I'll be holding it down in Tampa Florida.
I Love the video Michael. One thing I want to mention is that one must buy a rental in a better location. I Know people will rail on Me saying well You can get bad tenants anywhere which is true..however..It's REALLY difficult right now as I'm finding bc most people have a criminal record of some sort. I Don't care if a candidate is 36 and stole a car at 19 or shop lifting at 22 but Domestic, Rape, Murder, Physical assault, hard drug convictions - No Thanks. I'm finding this now. The decay of morals Is effecting this business on some level. And in PA if a tenant sets up a meth lab in your property - It get's condemned until an investigation ensues - guess what? If You have other tenants or say You live in one apartment on Your rental? You Must vacate. Now You've lost your home or your tenants have and You STILL have to Pay All the expenses. I'm not a fan of real estate as in addition the landlord tenant rules lean HEAVILY in favor of the tenants. This used to be a Lucrative business but it's less and less attractive now. Thanks Gov.
Michael you can’t say the government isn’t in the real estate business when so many mortgages are secured by HUD, VA, or USDA programs.
reds under the bed laugh out loud
In Los Angeles County, cash buyers swoop up all the great deals! Has been like that for years! When newlyweds put down a good offer on a home a cash deal steals it away!
The housing prices are going up faster than any working person could save. I feel exceptionally lucky I started investing in my early 40s and compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly blue chip stocks, bonds, mutual funds, REITs and ignoring the noise of the financial media. ever grateful to Trisha Jean Webb my F.A... Now house and cars all paid off and no other debt.
If banks can't withstand the bubble crash then maybe they shouldn't have been handing out expensive mortgages that caused the bubble.
I think real estate agents and appraisers are also trying to keep the housing prices high because they make more from commission percentage.
I'm hoping for the housing market crash. I did look up your FA and I'm impressed with the reviews, very remarkable and transparent. I hope she is open to assist me.
@@CliffWarrensmith "in house' fake endorsement posts..stands out a mile like glowing hotel reviews
Love this interesting information combined with beautiful scenery.
Another property insurer is dropping coverage in Florida.
Farmers Insurance will stop writing new business and not renew its existing “Farmers-branded” automobile, home and umbrella policies in the Sunshine State, the company said Tuesday. July 11, 2023
"Common Sense"...Michael...is NOT common...lol...Thank you for your honest channel!🤣🇺🇸💞✌
Thank you Michael for your videos 👍🏻
Like seeing the different places along your trip. Gives me an overview of other markets and areas of the country. Thanks
Landlord here in NYC and Westchester County - all I can say is the UPSIDE dwarfs the downside - however it should be noted that imho it’s impossible to do what I did since 1978 today - I’m not a seller and I never ever have a vacancy
You are just two hours away from one of my best friends, who lives in Silver City, New Mexico. So fun seeing you make your way across the US! I agree that the houses in those desert areas can look nice, but then sketchy areas can blend in really fast. I wouldn’t want to buy in areas like that either.
I left Monterey California for..
GAUTIER MISSISSIPPI on the GulfCoast.
It's prettier than Ocean Springs and cheaper too.
Low insurance, low property tax, hip artist community, medical marijuana dispensaries, beautiful women. ❤
Could've moved anywhere.. Chose the beautiful Mississippi Gulf Coast and a little town called Gautier.
Bought a dope house for 180k that wudda been 1 Million in Monterey County CA..
Michael, hmu on way back and do many folks a favor and show them Gautier Mississippi next to Ocean Springs.
Nick Johnson on RUclips has a cool video on the Mississippi GulfCoast. People were blown away that this is Mississippi.. it's a hidden gem.
Hidden gems in this place…love it.
I love that you're traveling around the country analyzing neighborhoods! This is very helpful!
2:00 Lol, love your descriptions of the oppressive heat. Something that we can relate to... in short stints!
I do not want to be forced to buy electric cars either. I have seen them lined up for hours at locations across the country waiting in line to get charged. The time lost is crazy. I am for Hybrid by far!
I really do like the idea of the lack of maintenance on EVs though. No engine, very few moving parts, like a giant battery operated skateboard. So simple by comparison to a combustion engine. They really should be cheap to buy when made at scale.
Homes are still selling fast in my area. People have to pay more than asking price to get it.
Right on in regards to EVs. All politics at this time.
Great insights on the housing market! The housing affordability crisis is indeed a significant issue. The suggestion of spending more than 30% of income on housing might be a reality for some, but it's not a sustainable solution. It's concerning to see people resorting to second jobs or cutting back on essentials to afford housing. However, these shifting dynamics present potential opportunities for those ready to invest. It's evident that the Federal Reserve's policies have far-reaching implications for the housing market, making real estate a journey of long-term investment. Amid these fluctuations, I've ventured into new investment avenues. Thanks to the guidance of a mentor, Mrs Tammy Brockman, my portfolio has seen significant growth in just 5 weeks.These are indeed turbulent times, but as the saying goes, fortune favors the bold!
Tammy Brockman crypto knowledge is like a secret recipe for success!
My increasing fascination with crypto led me on a journey of discovery until I encountered Tammy. Without exaggerating, she's truly the best. No empty hype, just genuine motivation to engage in crypto trading!
A million thanks to Mrs Tammy! With her insightful advice, she's turned my crypto hodlin into a vault of digital gold.
Best signal provider in the market. Knowledgeable, level headed no loss like some other traders who recently jumped on the bandwagon.
Trust me,Tammy Brockman knows her stuff! Her advice have been invaluable to my trading journey. Definitely worth giving a shot!🌟
Take the Coronado Bridge. It’s beautiful and walk around Coronado Island in San Diego, Mike. She will love it
Thanks for talking about EVs❤❤❤
its the purchasing power of the dollar manipulated to go down...thomas jefferson said if we let bankers manipulate our currency our great grand children will wake up homeless on the continent their forefathers founded. another thing is the stupid property tax which you will have to pay. example grandfather buys house in 1965 for $18,000 dollars, ends up paying mortgae for 30 years where he pays over 100,000$ dollars. plus taxes every year on top of all that. after mortage is paid off in 1996, still has to pay between $2000-$5000 a year for property tax for that house. years down the road the 95 year old wife thats on social security barely can make ends meet every month. it gets to a point that the property tax cant be afforded anymore and the gov takes that house. if a house can be in your family for over 60-70 years and it can be taken from you because you cant pay $2300 property taxes for that year its time for a revolution. do you know what the definition of a mortgage is? mort - means death, gage -means pledge. so your mortgage actually means death pledge.
Las Cruces is a nice town, if you’re going to live in New Mexico. I was there, in Alamogordo, for 3+ years in my Air Force days (1981-1985). Beautiful natural vistas and adventures.
If you swing by Birmingham Alabama, the usual neighborhoods people recommend are mountain Brook, homewood, and greystone..
Skip those and check out Brook Highland... One of the best neighborhoods at a tremendous value (even after appreciable growth).
Love the vids keepem coming ✌️
I'm down the road in Dadeville. By the lake. Property taxes are outstanding compared to Ohio, which is where I moved from.
Everyone is SELLING their wares on this channel.. Welcome to America
Thats awesome you were just down south from where i live in Albuquerque! The houses here are being sold within 3-5 days with multiple offers all over asking price. I'm 0/4 on offers this year.
Albuquerque is overpriced and there is so much crime. Just horrible. I lived in the East Mtns of ABQ. Did you know that the city has over 250 rough gangs? Probably more now because I've been gone for over 6 years. AND did you know that the Feds run the APD there? They did a documentary not long ago about that. It's the reason the crime is so high. Apparently someone didn't like the way the APD was handling criminals so the Feds stepped in and tied their hands. I wouldn't live there if someone gifted me a house. No way.
@@basha0810 *I* would buy in Albuquerque (ABQ)...but like in Las Cruces only in the NE part of ABQ (Wyoming East up to Tramway and across Tramway to the foothills -- High Desert woudl be NICE...but don't have a cool $1M+ for a home there. The Four Hills area would be okay, too. That's about it...unless you want it buy in one of the new/newer subdivisions in Rio Rancho out in Enchanted Hills, out Unser Blvd to the North, etc.
Like pretty much ALL cities, there are good/bad parts of ABQ...you just need to be a local to know what's up there (or know a local to ask).
-- BR
There is no impending housing crash.
@@basha0810 Yep, I'm on the west side and it sucks. Lived in NM since 84 and found it to be a desert paradise. Once developers found us it was just a matter of time. they rape, scrape and turn it into anywhere USA. The homes are mostly cheap shit boxes as they moved away from the traditional frame stucco. In their wake they bought higher taxes, crime, squalor and destruction.
Thanks!
Appreciate it Tina!
Damn bro, you just left me hanging in San Antonio, was going to show you a house I'm buying.. safe travels.
I am 59 and a baby boomer and never had a wedding and never walked down the aisle and never had a wedding registry to receive free gifts. I had a baby and his Dad died before the baby was born. I had no insurance policy at age 23. I raised a baby on one income. Nobody helped me. But I always worked and I have no IRA or retirement fund and I do not own a home. I am not your typical baby boomer. I have never dated or lived with anyone. I am single and still struggling financially. My parents dies over 23 years ago when I was in my 30s. I want to stress that I am still poor and not a rich baby boomer. I wish someone out there would help me find some remote jobs because I am getting older and being in traffic 2 hours a day is draining my energy. I hope someone can direct me to a remote job. I would appreciate it so much. Thank you
OMG, my wife and I are dying laughing at 13min. We are on Albuquerque and this us completely normal in almost all neighborhood's. We couldn't believe you went to Cruces over burque lol😅❤
I am a baby boomer, what ever that means, (Found all this names Stupid) no other country as an idiotic name like that for different generations. I own many homes all over the US, and Is one simple reason, we have more money and we worked harder then all newer generations as a whole.
I have sold homes through 4 crashes. To the younger viewers, please do not get too down on the housing situation. These prices are not the true value. When you study for a real estate license you actually learn that the true intrinsic value of a home is only seen after the crash. We will crash at least as bad as the last crash however it's a slow process over the next 5 to 7 years. People want to say it's different this time and it is not. The crash is coming from an overheated housing market where prices far out paced affordability, just like last time. Just be patient folks.
I just purchased 3 rental homes all cash. within 2.5 months, Yes 2.5 months. All signal family and tenant occupied. Memphis $50k 7day close, Jackson MS $25k 10day close, Peoria IL $32k 10day close. Just these three are making me $2300. per month The deals are out there.
You forgot to say that baby boomers had the best bands.
Our first house was bought with 10% rate, we did a refinanced at 3.5 %
Unsold new cars is not limited to electric cars, it's 60-90+ day inventory on many Ford, Ram, Jeep gas cars.. there's even trucks left over from the previous year as nobody wants to buy or can afford these $70,000-100,000 vehicles. The bonus with the EV's right now is companies like Tesla don't have any dealer markup, and you've got up to $7500 fed rebate, plus any state incentives and can seriously bring the price down on a new car to a pre-pandemic type price. Plus the main issue is affordability, nobody is buying these expensive cars with cash, and credit has tightened to where most people can't get the loans to cover those vehicles at a time when banks want nothing to do with inflated car prices as re-possessions are trending to all time highs due to non-payment.
Dang Michael I’m in Carlsbad New Mexico. You should have come over here to see the craziness in this area because of the oilfield.
Dealerships hate electric vehicles. That's why you see them for sale at places like Costco.
I hate EVs also...will never get one unless I HAVE to...but that's the goal of the present liberal/green agenda gov't. And if Biden/Harris get re-elected means "4 more years" for them to get that and other socialist/climate BS done.
-- BR
Low profit margins?
Farmers insurance dropped 100k in Florida.
My dad had a house built there for 250k or something in 2007. He left it to the bank in 2009 once the neighborhood went underwater, and it didnt sell until 2014 for 120k
There are LOTZ of homes in many states for $45k-$125k. They are older & need work and Im buying. But Millenials wont buy one bc its not Kardashian worthy. Gotta have Bling.
Or they dont want to dump 100k and 6 months of work into it just to find out they are is a sketchy part of town.
Baby Boomers like myself, who grew up in a two-parent households were trained on how to maintain homes. I have never lived in an apartment. I bought my first home at 23 after graduating college.
Of the multitude of homes ive looked at with my wife, many boomers do not know how to maintain a house and think its worth 50-100k more than it should be. They must be looking to retire on the beach with millions to their name.
I wanted to share that I reside in a non-disclosure state. I have an in to get access to data that most people cannot see. It looks like sales are going to be down pretty significantly this next release. There is some significant confusion out there on the health and sustainability of the market right now. Just as some people try to inform people of the truth others continue to try to manipulate in order to continue with sales. But sales are down Texans, and this beautiful fact. as we leave the summer and go into the fall, I believe we’re going to see significant changes like this all last year. Most people share that sentiment, and I see nothing on the horizon that will prevent that from happening.
i pulled out a ton from retirement, as i predicted the market to tank. the trick is to pull out in smaller chunks on years where your income is low, and you can avoid a lot of the taxes. plus during covid, they waived the early withdrawl penalty and many big investors took that opportunity to pull out.
I hope you are heading to Nor Cal or the central coast when you get to CA. Here in S. CA we are headed to heat and hunidity. Next week humidity going up to 50% then 75% and temps at 90°. Not going to be fun. Check out the 10 or 14 day forecast for your destination areas. 🙀
My family consists of three Boomers and one Millennial. The Millennial probably has the greatest wealth of all of us: she received an inheritance from a deceased Boomer.
No Gen X?
Boomers raped the economy of all it's resources and slammed the door on the way out. The American dream was meant to be earned, not inherited. But, thanks to Boomers deregulating the economy, unprecedented resources have been disproportionately given to the rich boomers at the expense of the younger generations. Millennials now get to watch as their lucky peers inherit the American dream from their greedy ancestors, while they are stuck working underpaid jobs for a pittance. Boomers regressed us back towards a pseudo feudalistic society where the wealthy lords pass on their castles through the generations, and the peasants work themselves to the bone without any hope for a better future.
If you’re traveling 40 West to I10 through Tucson/Phoenix to get to the beach cities in CA, get ready for triple digits. It’s 108 but feels like 112 today.
I lived 4 years in Alamogordo, NM which is about 60 miles away from Las Cruces. Its a nice little town, it was the closest place with a shopping mall so I went to Las Cruces rather often. One thing I hated was the dry weather and static shock. I had to start touching my elbow on my vehicle before I opened the door because the static was bad it would make my hand numb. But that being said I wouldn't mind living in that area again.
I lived in Alamogordo for 3+ years in my Air Force days (198-85). When were you there?
@CarlWithACamera 2002-2006, it was my first base. What was funny I came west and drove through Las cruces and thought this ain't too bad. Then I got to Alamogordo and my enthusiasm dropped.
@@qbanb8582 yeah, Alamogordo has very little going for it. But I was there at that time in life when we are all clones (we all had the same, minimal, experiences and so we had much in common). It's easy to make friends in college or the military because everyone is essentially the same, and so I had friends to bounce around with, cookouts and volleyball and capture the flag at White Sands, tubing at Cloudcroft, going to the bike rally and horse races in Riudoso, exploring the mines west of Oro Grande (highly illegal and off limits but that didn't stop us). Weekends going to the clubs in El Paso, trips north to Elephant Butte. Would I live there now, at age 60? No way. There's nobody there I'd have anything in common with.
@justthink5854 yikes. A nuke going off; something you never want to see in person.
As a baby boomer myself, I remember my dad telling me what it was like at the end of WWII. It was a boom time and THAT was what led to the baby boom in the first place. People could buy a house, a car, a washing machine. The lean times were over, the boom was on! It seems it's just going to get a lot tougher with each passing generation.
They may claim to own all the cities but they forget who truly owns all the land. Biblical times, much to learn.
you are right on about Electric Cars. If there's demand, then it will take off. If not, then it should not be forced upon consumers!
California? Hope you brought your bullet proof vest Michael!
How do you drive 500 miles and do a half hour walk and talk video in a day? Informative and entertaining too.
I would be interested to see a video on Huntsville, Alabama
In Los Angeles, it used to take me 2 hours to drive home from work, a 33 mile drive. I work in construction 🚧 my work locations changes all the time. No, I don’t want to pull over for 30 minutes to refuel an electric car.
Zero tax benefit for me owning a home in Texas i can't claim anything during tax time.
Are you going to visit Cabrini Green in Chicago, Illinois?
HaHa my Dad built that than Gone now I Tink..Swat Team would be must helpful too.😁😁😁
There’s a $7500 federal credit if you buy a new electric vehicle. I’m looking to get rid of my Audi sq5 to get a Tesla again because I’m spending 300/month in gas. I have a home charger built in already I just need it for a commute. I fly if it’s over a 2hr drive. I had zero chance to my electricity bill charging daily.
To put in context, I had a Tesla for 2 years on lease and bought the Audi and turned in the Tesla a year ago.
That neighborhood looks beautiful.
I can’t believe you’re in NM already. Wow