The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
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
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
That's why I'm scared to buy a house, but renting an apartment is a bigger threat too. Every year, they keep raising the rental payment and it's really concerning...
Rent in rent controlled areas of your concern is unreasonable increases in rent. The state has rent control and many cities have stricter rent controls on older buildings. Good luck.
I have a very nice custom built home in Central valley has an Attic space that needs to be finished out. I designed it so it can be either a one bedroom or studio apartment. You can live downstairs finish the upstairs and then Rent it out helps cover your mortgage. It has a separate entrance gate some both sides of the house. has a big yard and swimming pool.... This is a good home if you want to offset your mortgage .... Can also be multi-family use if you have a large family. Double lot You can also fit a large ADU outback I have a double Lot.
Wow the government gets 95K in permits and fees for each new house built in California! that's insane if the government thinks there's a housing shortage why don't they quit charging Builders those fees and that would cut back on a lot of the waiting time too
Lol. Northern California Permit Pricing. SoCal is about a third of that number. This particular builder putting up 2700 to 3500 sq. Ft. Homes. Not exactly for the majority of buyers.
@@stevelopez372 The large higher-end homes are the only ones with the profit margins to absorb the permit and impact fees. We have literally created a fee structure that prevents entry-level market-rate homes from being viable. And in some parts of Northern California, we raise millions of dollars every year through regressive sales taxes to buy development rights from wealthy landowners so that housing will never be built on their land and that drives up the price of other building sites.
I believe the housing market has been highly overpriced. There are different factors. Some of it is more buyers than sellers. People get in bidding wars over a home. Most homes sell within 2 weeks. Then if vou want land in the country between the rich folk and China who are paying way to much for property they make it impossible for average people to purchase in the country. It's going to implode because all the people who paid a premium for house's are a paycheck away from losing those homes. Look at the trucking company that just went out of business. How many of those employees will lose their homes. Look at other big companies that announced layoffs. Housing will be taking a big hit and prices will drop
I bought a house with cash in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn't king at all in this time!
@@Dantursi1 You are right! I've diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
I'd recommend Vivian Carol Gioia. She is a genius when it comes to diversifying her holdings. You can verify her identity for yourself by looking her up online. She is well knowledgeable about the financial market
We did this to ourselves by trying to get rich off of real estate. It's like a pyramid skeam where the ones on top get rich and the bottom eat the scraps. Also Warren Buffett said that to fix this issue is to move to the outskirts of our land and continue to build pet cities. This is so true, there is so much land for each to have our own.
No bonehead, that's not how economics work. It's the government that's the problem. Too much regulation on home builders. If they just let builders build we would not have a supply problem. Take a basic economics class before you make any more ignorant comments like that
I knew something was brewing in 2019 when I bought my house. I qualified for $500,000 but found a new build for $307,000 with a 3.6% interest rate. I refinanced a year later for a 2.37%. Now, I'm watching all of my neighbors complain about high property taxes, over inflated insurance premiums and high interest rates. In 2023, my mortgage is still cheaper than my rent in 2019. The key to this is to know when the economy is well over a period of time, get prepared for the switch and never over purchase.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.
Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.
My consultant is‘’Christine Jane Mcleans’’ I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.
@@romangabriel007 If I was a cash buyer, I wouldn’t be paying asking. I would be making a lower offer. Still, I think it’s too soon to pull the trigger to buy. Prices need to come down 50-60% first!
Houses back in the 50s were around 950 Sq Ft. Today's homeowners want 4,000 Sq Ft 4 bed 4 ba it's not surprising then why new houses are almost $1 mill
In other countries or in older parts of cities there’s always small apartments above businesses or restaurants. Almost like how storages have the caretakers apartment on site. That should be done here.
The real issue is trashy people not taking care of apartments and their communities. Then the karens think that only single family homes = safe neighborhoods.
stop blaming NIMBY's. Zoning laws and setback requirements are primarily the problem. There is nothing wrong with NIMBY's not wanting a high rise apartment/condo tower in their neighborhood so some conglomerate developer can cash in. Incremental development at the local level is stifled by government regulations. The traditional pattern of incremental development has been outlawed. That is the primary problem.
Selfish NIMBYs limit supply and drive up costs for newcomers. That locks house hunters into the rental market and out of home ownership. The investors add inventory and the NIMBYs restrict it. We all pay for the housing not built.
@@jrebytes6669 "investors" buying up housing, outbidding families for the same properties forces some people into rentals. In the SFH, it's the equivalent of ticket scalpers. They buy up resources before you can and then "sell/ rent" it back to you at a higher price.
@@jessem4659 funny how these investors only own 300k SFH together. That's like 1/100th of a percent. Granted they do buy houses in profitable areas which makes sense. Why not blame the people selling the houses to the highest bid? Greedy home owners right? Fact is, if you are selling something, you'll naturally want to get the most out of it you can. That's just how things work in the real world.
I would have liked to see more attention be paid to high density housing options like apartments and multi family zoning and the issues surrounding them.
This investigation report misses the points as to why the US has affordable housing crises and suggested solutions are not the solutions the US should be focusing on. The US should be focusing higher density, more mixed use, reducing or limiting single family housing zoning.
I wouldn’t rely too heavily on a news station that is utilized as propaganda for pharmaceutical and military purposes. It’s a nice dabble into the scene of ca housing, but not the word of the real estate gods.
There’s a housing shortage because California has pro car zoning like parking minimums and single use zoning that keeps shops separated from homes forcing driving. Around 40% of land in LA is road or parking lot. That’s pretty typical. That leaves no space for new homes for people. And all that car space costs money to maintain while not generating much tax revenue.
Here in Sacramento, so many small businesses have shut down because of property taxes. So many peoples ended up living in the streets and lost their homes. Kept building more houses that people can’t afford to live. It’s really bad!
There's ALWAYS a housing crisis! Too expensive, high mortgage rates, low inventory. Unless, of course, it's prices crashing, subprime mortgages, and high inventory. Nothing new under the sun.
There is literally no one ever that didn't try to increase the value of their home. It's the poors that don't own their own socks that are doing all the crying.
@@jrebytes6669 Yes, most do try to increase the value of their home, some do it by improving their home and others do it by preventing newcomers from having a chance of living in a new home near theirs.
That's what happens when u allow big corporations like blackrock and vanguard to buy most of the single family homes , in few years we will have a generation of renters
My parents bought their house in 2005 for 300k in California and they are moving to Europe because they’ve had enough of America and where it’s going , they sold the house for 780k….. and are now looking for houses in Europe . Something is going on with the housing market obviously my parents are super happy but the average American won’t be able to afford a house
Oh Joy! .Growing up in the Sierras and Sacramento area it is really upsetting that I have to look forward to the decimation of the beautiful rolling hills and it"s wildlife. Let"s not forget the noise pollution and traffic that will follow..😬😤
I hear you... born in Calif in '49 when it was sparse, gorgeous, reasonably priced, manageable traffic... we lived oceanfront in Pacific Beach on my dad's salary as a shoe salesman! Those days are long gone.
@@yourlogicalnightmare1014 You don't know what a "sanctuary state" means. Look it up. Use google. Also - look up the root cause of refugees at our borders... hint... US regime change, theft and Imperialism. We make life so difficult for them they show up at our borders or Europe's borders desperate to survive.
Poor wildlife are being displaced. Building not just any homes but McMansion. Instead of build more affordable condos and apartments that are way more sustainable. I left Folsom because of the development, freeway access and traffic pollution. Air quality was already horrendous in Folsom. Barely any trees and shades. Am glad to have relocated to Finland, where there are 4 seasons, affordable housing, trees, natures, forests, lakes everywhere! They aren’t building mansion sized house but energy efficient homes. Zero homeless because housing is just within everyone’s reach, whether you wanna rent or own, and dint get me started with tax, my income tax was way higher in California. Here my property tax is $5 a month for a 135k property. Free heating, internet is 2x faster and it’s only $12 a month, free dental and health care, sure I pay $12-22 admin fee with an out of pocket of $800 a year.
I have a very nice custom built home in Sacramento valley has an Attic space that needs to be finished out. I designed it so it can be either a one bedroom or studio apartment. You can live downstairs finish the upstairs and then Rent it out helps cover your mortgage. It has a separate entrance gate some both sides of the house. has a big yard and swimming pool.... This is a good home if you want to offset your mortgage. Can also be multi-family use if you have a large family. Double lot You can also fit a large ADU outback I have a double Lot.
It would help to make foreign investments in US housing market illegal. Not many countries allow foreigner to buy a house. No citizenship, no house ownership.
Oh don’t worry, the Chinese and corporate investors will continue to come in with cash and gobble them up and we will just stay renting from big corporations and foreigners.
Corporate owned single family homes are 1/1000 of a PERCENT of all available SFH. You don't get to blame them for your shortcoming but we can tell what kind of kool aid you drink.
@@jrebytes6669 That is total BS! You can’t lie your way out of the facts! Sorry if the truth shines a light on your investments that will take a dive and destroy your portfolio.
Easy solution is to place restriction that no one either individual or corporate should own more than 2 homes any additional home should carry tax of 100%. Blackrock, vanguard and hedge funds own 70% of vacant California homes
The primary benefit of the high interest rates is a solid slap in the face of the entire real estate industry - lenders, mortgage brokers, and especially realtors who had significant ethics issues in many of my personal experiences. I own several homes but know that this train we are on has to come to a stop at some point. Hoping we aren't the Japan of 20 years ago where they rolled out 100 year mortgages and the kids just quit buying homes leading to a 15 year crash.
Can we call out greedy lazy landlords, I gotten seriously medically ill from my apartment ( found out it’s illegal space) and told my landlord multiple times about issues which he refused to fix for years. Reporting it to multiple agencies and sometimes they side with the crooked landlord or property owners so they don’t give an honest report. Now I have a large 12cc tumor and mold allergies. I have to file for disability! The problem is that when buyers purchase homes , when they register the home , no state laws are told to landlords or property owners. And the state just thinks that they educate themselves! This is part of the reason why no one can rent ! The lack of government involvement with purchasing home. It’s almost like the state sets it up for everyone including renters, landlords, homeowners to get screwed because of the lack of information and infrastructure!
When I was born in California there were 10.3 million people here. Now there are 40 million and we're being crushed. It's not the California it once was... it's not the country it once was.
Squatter laws need to change , it’s ridiculous that , squatters have more rights than the owners .. these squatters committed fraud and are basically, trespassing or broking an entry .. they should be in jail
I had squatters living next to me that were involved in organized crime. It was a nightmare and it took the neighborhood over a year to get rid of them.
Asia can be an example that young people buy or rent unit within apartments to save up during the first 10 years of graduation. During the time, save money; pay student loan; raise kids. When the kids are 7-10 years old, buy a house.
AI isn't going to take over as fast as the news is suggesting. It's going to take time. For example, take a look at Tesla's FSD. It's taking for freaking ever to release.
The problem with real estate in California is you have too many immigrants coming in and not enough housing to accommodate the growth. The solution? Start deportation proceedings.
Property taxes are one spot where California isn’t heavily taxed compared to most U.S. states. So if one opts to buy a home in California that’s so expensive that the property taxes are $1,000 a month, that means they’re loaded. In California a $1,000 per month property tax home is going to be for an home over $1,666,666 if recently purchased or probably over $3,000,000 if it’s more than a few years old. If the home is more than 20 years old and the property taxes are over $1,000 a month in California, it’s probably worth over $7 millions dollars today. I have trouble feeling sorry for that person paying $1,000 a month for property taxes given the kind of money they must have. In a state like Texas someone can pay that same $1,000 per month for property taxes on a home that’s $750,000. And if the home doubles in value over 5 or 10 years, so do the property taxes in Texas. That’s not the case in California where the property taxes at most increase 2% a year, even if a home’s value increases by 25% or more on a given year.
The first thing I would do is build build build! There is way too little being built. And the little that is being built is way to big for first time buyers and people looking to downsize. Also, they should limit how many properties investors can own.
The wealthy didn’t create any jobs with their tax cut windfalls. They’re buying up homes and making it more expensive for everybody else to live. Increase taxes on the wealthy.
@@juneyshu6197 Yeah that's my concern, that they are still implementing poor city planning. It would be nice to include closer commercial spaces that are a necessity next to the new houses. Car congestion is annoying.
Supply and demand done by the design.this is one reason democrats want more illegal immigrants. Just think about it for a moment. Supply and demand. Free housing for illegal immigrants. The government pays the rent.americans becomes homeless .all homeless people are not om drugs or crazy. They just don't earn enough to pay high rent
The issue is there's not enough homes. Too many ppl are snapping them up from other states including investors whom have zero intentions to live in the homes
There’s no shortage of homes- there’s a shortage of AFFORDABLE homes. There are plenty of homes that are listed, however prices are too high. When rates go up, prices should go down, however sellers are set on trying to get the same amount their homes were supposedly worth when rates were 2-3%. Once mass layoffs come, home prices will drop hard. It just takes a few desperate sellers to bring values down for the whole neighborhood/city.
I suggest owners that want to move should hold their existing property , and rent it out ( cover all your costs including: .Mortgage, Insurance , Taxes , Management fees ..Use it as collateral to buy the next home you need . Instead of losing the chance to have the investment /profit that you would have lost .
The professional squatter situation obviously isn't cool. But at the same time these people that have turned entire cities into outrageous rental towns where you can't save/get ahead/or buy in the future it's making it impossible for people to make a foundation. They rented for 34 years in one of the most expensive places and didn't have the mortgage paid off? That house was probably 50k back then. Like, really?
You mean you don't like 650K Valuation on a home that's really worth 325K at 8%? Like I've been saying to all those that bought at the so-called historic rates of low interest. You know what you can never refinance/change? The price you pay. So wait till those 2% interest folks realize they are 200k or more upside down. Maybe that's why we're seeing a sudden spike in refinancing at much higher rates than were purchased.
Idiots are doing cash out refinancing, in order to pay off other debt. It’s not smart at all, because they’re now at a greater risk of losing their homes. Makes no sense
I've had my mortgage for 10 years now, and my rent has not gone up. Every year instead of going up, i save and actually the rent goes down because my wage increase goes up higher than my rent and will continue to do so. 2.625 fixed rate!
ive been building homes in socal for 30 years, the number one reason my permits are deined is, NOT ENOUGH GRID. followed by, water, traffic and environmental. if you want to solve the housing problem, fix the power and water problem.
The #1 problem is NIMBYs mandating single family homes and restricting housing density. Infrastructure can be addressed. California's water shortage is the result of agriculture growing unsustainable crops. Water equates to profits and there will never been enough profits to satisfy shareholders.
Thank you Jerry thank you for all the information just one more question if you can answer why there's so many empty house for sale ? this is a very unusual from I view. I'm from the Los Angeles .
Scary! Prices are way up! Interest way up locked in for long term… can’t keep going up , there’s going to be more upside down equity and another crash likely… 2008 was not exactly the same but this is bad too. Surprising that not more people are selling at the peak …??
I think another reason the problem wasn't as bad in the early 80s as it is now (despite the double digit interest rates) is that the GIs that came back from WW 2 started having kids like crazy and their kids were reaching homebuying age in the early 80s. The fertility rate of women born in the 80s and 90s whose kids are reaching homebuying age today is a lot less, especially if you exclude extremely low income women whose kids will probably be permanent renters.
I don't understand the crisis. If it's too expensive just move to another area. Once the movers move, the home prices come down as demand fall. There's more of a stubborn crisis than a housing crisis.
6:45 Yeah sure... you could find a house in 1982 for $53,000... that's true, well not in San Diego where I lived but sure... However, instead of a $150K yearly salary that I could make today, I was making $16K fresh out of college... so there's that.
The problem is not everyone makes $150k now. In general, homes were selling for 2-3x salaries in the 80’s. Now it’s roughly 8x salaries. So it’s all about the ratio of income to home prices. It’s the least affordable time now than it’s ever been.
she said go with your gut feeling about someone and she said at first her gut feeling said the squatters were good people. Landlords better pay websites to pull up future tenants info and make phone calls and drive to past locations of the tenants.
You wouldn't have to build fast if we limited how many properties investors can buy. Investors come in and sweep up homes and price out regular people who want to live there. Start first with getting these investors to sell. Prices will go down rents will go down. Also the cost of building is just too high. It's impossible to build affordable housing when costs are so high. This is all no brainier, but corrupt people want to make money and who cares about regular folks.
I saw this and she’s a former San Francisco prosecutor I automatically thought Napa is stupid. Why is a small county going after her she probably knows people she knows the law. It sounds crazy to me and she will probably win. It’s like after they realizes who she is and not causing a big problem let her be. She’s probably going to mess with them because they messed with her. This makes Napa look so stupid.
When are people going to realize that living in California is NOT sustainable. You cant retire and live comfortably and the governor is imposing so many ludicrous bills into law. Most are in denial but many like me, saw the reality and left. I sold in August of 2020 and moved to Chino Valley, Arizona near Prescott. My brand new home was $299k. My cars registration was $171 for FIVE years with no smog check and my average electric bill is $60 a month. And theres very few homeless and i have 4 distinct seasons
Supply is not low prices are very high so people can not afford it specially with these interest rates makes it even impossible! This inflation is bad for all of us. America is at its worse!
You can refi to a lower rate if rates drop. If rates rise, you will be glad that you locked it. 30 year fixed rate mortgage is paid off in 30 years, rent continues forever.
@@fgjf1079 what! I have been looking for 8 months and making offers every week… get your clown face out of here! Because you saw some statistic overall prices are up and I keep getting beat by cash offers
@@fgjf1079 houses that used to sell for 2 million are now going for 1.8… but everything in the lower end is up and people are fighting for anything under 800k
We went from saving for a house, to saving for a down payment, to renting…. Society is turning into a subscription-like model so we keep consuming and pay for corporations. We go full circle with the disappearance of pensions and instead, 401ks where you put your hard earned money back into stocks and bonds to grow those corporations. I know my comments sounds a bit too “blue”, but we truly live in a more and more capitalistic system where the individual is being squeezed to the point of modern slavery.
Really missed the mark on solutions. Instead of focusing on upzoning and densification to increase supply the first suggestion was to pack up in a live in a van. 😂😂 The prefabrication/3D printing is fun in a scifi way but its still only scifi as this company isnt able to produce at scale yet
Classic case of overpopulation ... Too many people in California already. And keeping the boarders wide open doesn't help the " housing crisis" or out of control inflation. There are way too many people seeking free housing, free food, and medical. That puts a strain on resources, that most people have to pay for. But the demand for housing and other resources increases as more and more people immigrate to the US especially to The Sanctuary State of California.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
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
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Melissa.
That's why I'm scared to buy a house, but renting an apartment is a bigger threat too. Every year, they keep raising the rental payment and it's really concerning...
They also raise the property tax so you’d be adding on more property tax too
Buy a duplex live in one and rent the other one
Rent in rent controlled areas of your concern is unreasonable increases in rent. The state has rent control and many cities have stricter rent controls on older buildings. Good luck.
@@oscarcaballero9014cap rates aren’t there for most desirable buildings.
I have a very nice custom built home in Central valley has an Attic space that needs to be finished out.
I designed it so it can be either a one bedroom or studio apartment. You can live downstairs finish the upstairs and then Rent it out helps cover your mortgage. It has a separate entrance gate some both sides of the house. has a big yard and swimming pool.... This is a good home if you want to offset your mortgage ....
Can also be multi-family use if you have a large family.
Double lot You can also fit a large ADU outback I have a double Lot.
Wow the government gets 95K in permits and fees for each new house built in California! that's insane if the government thinks there's a housing shortage why don't they quit charging Builders those fees and that would cut back on a lot of the waiting time too
California gotta pay all those pensions
Insane
Lol. Northern California Permit Pricing. SoCal is about a third of that number. This particular builder putting up 2700 to 3500 sq. Ft. Homes. Not exactly for the majority of buyers.
@@stevelopez372 The large higher-end homes are the only ones with the profit margins to absorb the permit and impact fees. We have literally created a fee structure that prevents entry-level market-rate homes from being viable. And in some parts of Northern California, we raise millions of dollars every year through regressive sales taxes to buy development rights from wealthy landowners so that housing will never be built on their land and that drives up the price of other building sites.
Where in the video did they say that
I believe the housing market has been highly overpriced. There are different factors. Some of it is more buyers than sellers. People get in bidding wars over a home. Most homes sell within 2 weeks. Then if vou want land in the country between the rich folk and China who are paying way to much for property they make it impossible for average people to purchase in the country. It's going to implode because all the people who paid a premium for house's are a paycheck away from losing those homes. Look at the trucking company that just went out of business. How many of those employees will lose their homes. Look at other big companies that announced layoffs. Housing will be taking a big hit and prices will drop
I bought a house with cash in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you're careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn't king at all in this time!
@@Dantursi1 You are right! I've diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
I'd recommend Vivian Carol Gioia. She is a genius when it comes to diversifying her holdings. You can verify her identity for yourself by looking her up online. She is well knowledgeable about the financial market
We did this to ourselves by trying to get rich off of real estate. It's like a pyramid skeam where the ones on top get rich and the bottom eat the scraps.
Also Warren Buffett said that to fix this issue is to move to the outskirts of our land and continue to build pet cities. This is so true, there is so much land for each to have our own.
*Pyramid Scheme
No bonehead, that's not how economics work. It's the government that's the problem. Too much regulation on home builders. If they just let builders build we would not have a supply problem. Take a basic economics class before you make any more ignorant comments like that
Even if you live in the outskirts, the cost to build a house is expensive no ?
@@yvette11111
That's actually one huddle that we're going through.
@@oessobro you can’t get around it😂 just find legal ways to make more money this country has so many opportunities.
Makes you appreciate people living in cars and vans.
I would love to convert a van in to a livable space or those box trucks
Move to a cheaper place
Gavin Newsom has completely DESTROYED California
I knew something was brewing in 2019 when I bought my house. I qualified for $500,000 but found a new build for $307,000 with a 3.6% interest rate. I refinanced a year later for a 2.37%. Now, I'm watching all of my neighbors complain about high property taxes, over inflated insurance premiums and high interest rates. In 2023, my mortgage is still cheaper than my rent in 2019. The key to this is to know when the economy is well over a period of time, get prepared for the switch and never over purchase.
Cool story, girl
When do you think the next time to buy is?
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.
Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
My consultant is‘’Christine Jane Mcleans’’ I found her on a CNBC interview where she was featured and reached out to her afterwards. She has since provide entry and exit points on the securities I focus on. You can look her up online if you care supervision. I basically follow her trade pattern and haven't regretted doing so.
Thanks for sharing, I just liquidated some of my funds to invest in the stock market, I will need every help I can get.
It's a buyer's market if you're paying cash. If you need a mortgage, you're screwed.
The wealthy didn’t create any jobs with their tax cut windfalls. They’re buying up homes and making it more expensive for everybody else to live.
Prices need to come down if you’re paying cash.
@@romangabriel007 If I was a cash buyer, I wouldn’t be paying asking. I would be making a lower offer. Still, I think it’s too soon to pull the trigger to buy. Prices need to come down 50-60% first!
New homes at 600 to 800k are not helping. Absentee landlords rent at high prices but dont do repairs. Its nuts.
Yes they do. Someone will move into that new house you can't afford and then you can rent the house they move out of. It's not that complicated.
Houses back in the 50s were around 950 Sq Ft. Today's homeowners want 4,000 Sq Ft 4 bed 4 ba it's not surprising then why new houses are almost $1 mill
The real issue is strict zoning laws and NIMBYs. That's literally the only reason we have this problem.
In other countries or in older parts of cities there’s always small apartments above businesses or restaurants. Almost like how storages have the caretakers apartment on site. That should be done here.
The real issue is trashy people not taking care of apartments and their communities. Then the karens think that only single family homes = safe neighborhoods.
stop blaming NIMBY's. Zoning laws and setback requirements are primarily the problem. There is nothing wrong with NIMBY's not wanting a high rise apartment/condo tower in their neighborhood so some conglomerate developer can cash in. Incremental development at the local level is stifled by government regulations. The traditional pattern of incremental development has been outlawed. That is the primary problem.
I never felt sorry for greedy investors. They were the ones that created demand for renters.
People seeking rentals create demand not landlords. SMFH
Selfish NIMBYs limit supply and drive up costs for newcomers. That locks house hunters into the rental market and out of home ownership. The investors add inventory and the NIMBYs restrict it. We all pay for the housing not built.
@@mwatercress multi family properties don’t exactly need to bombard into single family neighborhoods.
@@jrebytes6669 "investors" buying up housing, outbidding families for the same properties forces some people into rentals.
In the SFH, it's the equivalent of ticket scalpers. They buy up resources before you can and then "sell/ rent" it back to you at a higher price.
@@jessem4659 funny how these investors only own 300k SFH together. That's like 1/100th of a percent. Granted they do buy houses in profitable areas which makes sense.
Why not blame the people selling the houses to the highest bid? Greedy home owners right?
Fact is, if you are selling something, you'll naturally want to get the most out of it you can. That's just how things work in the real world.
“Van life” is just gentrified homelessness
Nah. Nothing better than a well engineered Bridge, lol.
Van down by the river lol
I would have liked to see more attention be paid to high density housing options like apartments and multi family zoning and the issues surrounding them.
This investigation report misses the points as to why the US has affordable housing crises and suggested solutions are not the solutions the US should be focusing on. The US should be focusing higher density, more mixed use, reducing or limiting single family housing zoning.
Why of course, if Rats can do it , why not Stack,Pack and Rack people just like Rats. Lol.
ruclips.net/video/nW0nseaI70E/видео.htmlsi=MAQwkswC06dV3hCf
I wouldn’t rely too heavily on a news station that is utilized as propaganda for pharmaceutical and military purposes. It’s a nice dabble into the scene of ca housing, but not the word of the real estate gods.
That's a big part of the problem. Zoning restrictions, that have been in place since the 1950's, are not practical today.
There’s a housing shortage because California has pro car zoning like parking minimums and single use zoning that keeps shops separated from homes forcing driving. Around 40% of land in LA is road or parking lot. That’s pretty typical. That leaves no space for new homes for people.
And all that car space costs money to maintain while not generating much tax revenue.
Housing is a luxury good. That’s the problem. It has to become a human right in the minds of society before we will ever get any relief.
Here in Sacramento, so many small businesses have shut down because of property taxes. So many peoples ended up living in the streets and lost their homes. Kept building more houses that people can’t afford to live. It’s really bad!
It’s not that. Small business shut down because too many smash and grabs. They couldn’t afford the loss. The broken laws here.
Atleast you guys have one of the lower property taxes in the country. Here in Texas the property taxes are out of control
There's ALWAYS a housing crisis! Too expensive, high mortgage rates, low inventory. Unless, of course, it's prices crashing, subprime mortgages, and high inventory. Nothing new under the sun.
NIMBYs in California are keeping the supply low and driving up the prices for newcomers and the value of their own homes.
There is literally no one ever that didn't try to increase the value of their home. It's the poors that don't own their own socks that are doing all the crying.
@@jrebytes6669 Yes, most do try to increase the value of their home, some do it by improving their home and others do it by preventing newcomers from having a chance of living in a new home near theirs.
That's what happens when u allow big corporations like blackrock and vanguard to buy most of the single family homes , in few years we will have a generation of renters
My parents bought their house in 2005 for 300k in California and they are moving to Europe because they’ve had enough of America and where it’s going , they sold the house for 780k….. and are now looking for houses in Europe . Something is going on with the housing market obviously my parents are super happy but the average American won’t be able to afford a house
Outside San Francisco, Los Angeles or San Diego it's cheaper because the jobs are over 3 hours away. Location location location.
They need more density and public transit. Riding a bike in California sounds wonderful
Oh Joy! .Growing up in the Sierras and Sacramento area it is really upsetting that I have to look forward to the decimation of the beautiful rolling hills and it"s wildlife. Let"s not forget the noise pollution and traffic that will follow..😬😤
Yet you're fine with a sanctuary state welcoming millions more people who NEED CARS AND HOUSING 😂😂😂
I hear you... born in Calif in '49 when it was sparse, gorgeous, reasonably priced, manageable traffic... we lived oceanfront in Pacific Beach on my dad's salary as a shoe salesman! Those days are long gone.
@@yourlogicalnightmare1014 You don't know what a "sanctuary state" means. Look it up. Use google. Also - look up the root cause of refugees at our borders... hint... US regime change, theft and Imperialism. We make life so difficult for them they show up at our borders or Europe's borders desperate to survive.
Close the border! Make those smash and grabs pay! We got broken laws to fix!!!!
Poor wildlife are being displaced. Building not just any homes but McMansion. Instead of build more affordable condos and apartments that are way more sustainable. I left Folsom because of the development, freeway access and traffic pollution. Air quality was already horrendous in Folsom. Barely any trees and shades. Am glad to have relocated to Finland, where there are 4 seasons, affordable housing, trees, natures, forests, lakes everywhere! They aren’t building mansion sized house but energy efficient homes. Zero homeless because housing is just within everyone’s reach, whether you wanna rent or own, and dint get me started with tax, my income tax was way higher in California. Here my property tax is $5 a month for a 135k property. Free heating, internet is 2x faster and it’s only $12 a month, free dental and health care, sure I pay $12-22 admin fee with an out of pocket of $800 a year.
I have a very nice custom built home in Sacramento valley has an Attic space that needs to be finished out.
I designed it so it can be either a one bedroom or studio apartment. You can live downstairs finish the upstairs and then Rent it out helps cover your mortgage. It has a separate entrance gate some both sides of the house. has a big yard and swimming pool.... This is a good home if you want to offset your mortgage.
Can also be multi-family use if you have a large family.
Double lot You can also fit a large ADU outback I have a double Lot.
It would help to make foreign investments in US housing market illegal. Not many countries allow foreigner to buy a house. No citizenship, no house ownership.
Oh don’t worry, the Chinese and corporate investors will continue to come in with cash and gobble them up and we will just stay renting from big corporations and foreigners.
Corporate owned single family homes are 1/1000 of a PERCENT of all available SFH. You don't get to blame them for your shortcoming but we can tell what kind of kool aid you drink.
You're trying to scapegoat China for a problem created by American NIMBYs.
@@jrebytes6669
That is total BS! You can’t lie your way out of the facts! Sorry if the truth shines a light on your investments that will take a dive and destroy your portfolio.
Most houses only worth 25000
Easy solution is to place restriction that no one either individual or corporate should own more than 2 homes any additional home should carry tax of 100%. Blackrock, vanguard and hedge funds own 70% of vacant California homes
The primary benefit of the high interest rates is a solid slap in the face of the entire real estate industry - lenders, mortgage brokers, and especially realtors who had significant ethics issues in many of my personal experiences. I own several homes but know that this train we are on has to come to a stop at some point. Hoping we aren't the Japan of 20 years ago where they rolled out 100 year mortgages and the kids just quit buying homes leading to a 15 year crash.
always "crisis" in CA. Housing crisis, Climate crisis, Water crisis, Energy crisis, Homeless crisis, Food crisis.....
Can we call out greedy lazy landlords, I gotten seriously medically ill from my apartment ( found out it’s illegal space) and told my landlord multiple times about issues which he refused to fix for years. Reporting it to multiple agencies and sometimes they side with the crooked landlord or property owners so they don’t give an honest report.
Now I have a large 12cc tumor and mold allergies. I have to file for disability! The problem is that when buyers purchase homes , when they register the home , no state laws are told to landlords or property owners. And the state just thinks that they educate themselves! This is part of the reason why no one can rent ! The lack of government involvement with purchasing home. It’s almost like the state sets it up for everyone including renters, landlords, homeowners to get screwed because of the lack of information and infrastructure!
When I was born in California there were 10.3 million people here. Now there are 40 million and we're being crushed. It's not the California it once was... it's not the country it once was.
And the 40 is not even true.
That’s Funny and we still have so much empty land. Of course I’m not drawn to the Big City Life. Lol.
More foreign investors are now owning California. They have the cash and killing the RE market for the average Americans.
Too many illegals
@@blackpearL40-y2pyeah I agree European baby anchor 😂
People need to stop buying multiple houses and trying to profit off of them
You can't fix something that has been broken for years,
Good work on this news piece 👍
Squatter laws need to change , it’s ridiculous that , squatters have more rights than the owners .. these squatters committed fraud and are basically, trespassing or broking an entry .. they should be in jail
I had squatters living next to me that were involved in organized crime. It was a nightmare and it took the neighborhood over a year to get rid of them.
Make a laws that can put squatter face in billboards across United States so they can’t go for their next victim.
Asia can be an example that young people buy or rent unit within apartments to save up during the first 10 years of graduation. During the time, save money; pay student loan; raise kids. When the kids are 7-10 years old, buy a house.
Keep the prices up I’m loving it
yeah baby!
sorry not sorry but the van guys section looks like a commercial embedded in the report to me, so I had to skip that part...
The work from home may become a bubble with the increase of AI .
AI is an issue for thousands of different jobs.
AI isn't going to take over as fast as the news is suggesting. It's going to take time. For example, take a look at Tesla's FSD. It's taking for freaking ever to release.
California has the room if it wants to build affordable housing.
The problem with real estate in California is you have too many immigrants coming in and not enough housing to accommodate the growth. The solution? Start deportation proceedings.
OWNING MORE THE ONE HOUSE IS BAD FOR THE ENVIRONMENT.
In San Jose, a slump house in gang region costs 1mil. Bay Area is so delusional. lol
The government should quit taking 1/3 of everyone's paychecks and quit charging $1,000 a month for property tax then it would be more affordable
The government will never tolerate less income
This is why I don't understand how people can vote for a party that always promotes increases in taxes.
@@jeffg4096the problem is always gonna be a capitalist system, you can vote either way and it won’t change. It’s about a free market
@@jeffg4096: people in REPUBLICAN Florida and Texas are squealing about property taxes, too.
Property taxes are one spot where California isn’t heavily taxed compared to most U.S. states.
So if one opts to buy a home in California that’s so expensive that the property taxes are $1,000 a month, that means they’re loaded. In California a $1,000 per month property tax home is going to be for an home over $1,666,666 if recently purchased or probably over $3,000,000 if it’s more than a few years old. If the home is more than 20 years old and the property taxes are over $1,000 a month in California, it’s probably worth over $7 millions dollars today. I have trouble feeling sorry for that person paying $1,000 a month for property taxes given the kind of money they must have. In a state like Texas someone can pay that same $1,000 per month for property taxes on a home that’s $750,000. And if the home doubles in value over 5 or 10 years, so do the property taxes in Texas. That’s not the case in California where the property taxes at most increase 2% a year, even if a home’s value increases by 25% or more on a given year.
Would be interesting if someone working for an Oakland company from Home in Salt Lake city, then told they have to return to the office.
Thank you for sharing. I learned alot.
How are you gonna compare a van to a house? A house has a bathtub, a garage, a living room, a bedroom, and a backyard. The house is beyond a van.
The first thing I would do is build build build! There is way too little being built. And the little that is being built is way to big for first time buyers and people looking to downsize. Also, they should limit how many properties investors can own.
Home price is still not going down... so simple solution... FED needs to continue to raise interest rates.
The wealthy didn’t create any jobs with their tax cut windfalls. They’re buying up homes and making it more expensive for everybody else to live.
Increase taxes on the wealthy.
Bring on the 18-20% mortgage rates with homes prices at 50-50% off.
Agreed! Need to raise interest rates to the moon.
I don’t understand how these folks allowed these awful people to rent their homes?! Didn’t they do a background check, check references, etc??
They went by skin color .. so they got taken
We saw the writing on the wall in 2012 and moved out of Commifornia. No regrets.
Are these new Sacramento houses also getting new commercial spaces to reduce car dependences?
In our area, they built the carp near hobby lobby, bye baby, ulta, fitness. No supermarket, walmart, gas stations.
In our area, they built the carp near hobby lobby, bye baby, ulta, fitness. No supermarket, walmart, gas stations.
@@juneyshu6197 Yeah that's my concern, that they are still implementing poor city planning. It would be nice to include closer commercial spaces that are a necessity next to the new houses. Car congestion is annoying.
Solution is get rid of greedy real estate
Yeah my housing is a 1971 Vw bus 🚌…. Even these are crazy expensive!
Bay to Sacramento is becoming a mega city.
Supply and demand done by the design.this is one reason democrats want more illegal immigrants. Just think about it for a moment. Supply and demand. Free housing for illegal immigrants. The government pays the rent.americans becomes homeless .all homeless people are not om drugs or crazy. They just don't earn enough to pay high rent
The issue is there's not enough homes. Too many ppl are snapping them up from other states including investors whom have zero intentions to live in the homes
Absolutely. Restrict anyone from owning more than 2 homes. Hedge funds are owning 70% of supply
There’s no shortage of homes- there’s a shortage of AFFORDABLE homes. There are plenty of homes that are listed, however prices are too high. When rates go up, prices should go down, however sellers are set on trying to get the same amount their homes were supposedly worth when rates were 2-3%. Once mass layoffs come, home prices will drop hard. It just takes a few desperate sellers to bring values down for the whole neighborhood/city.
Thank you for this informative video!
I am dodging this game by renting with roomates. It's a way of life
I suggest owners that want to move should hold their existing property , and rent it out ( cover all your costs including: .Mortgage, Insurance , Taxes , Management fees ..Use it as collateral to buy the next home you need . Instead of losing the chance to have the investment /profit that you would have lost .
'I suggest owners that want to move should hold their existing property , and rent it out ...' Where are they going to live?
As long as you have a management company or management, lest the place get destroyed.
why dont you share the squatters details so the next owner can spit on when they see them
The professional squatter situation obviously isn't cool. But at the same time these people that have turned entire cities into outrageous rental towns where you can't save/get ahead/or buy in the future it's making it impossible for people to make a foundation. They rented for 34 years in one of the most expensive places and didn't have the mortgage paid off? That house was probably 50k back then. Like, really?
You mean you don't like 650K Valuation on a home that's really worth 325K at 8%? Like I've been saying to all those that bought at the so-called historic rates of low interest. You know what you can never refinance/change? The price you pay. So wait till those 2% interest folks realize they are 200k or more upside down. Maybe that's why we're seeing a sudden spike in refinancing at much higher rates than were purchased.
Idiots are doing cash out refinancing, in order to pay off other debt. It’s not smart at all, because they’re now at a greater risk of losing their homes. Makes no sense
I've had my mortgage for 10 years now, and my rent has not gone up. Every year instead of going up, i save and actually the rent goes down because my wage increase goes up higher than my rent and will continue to do so. 2.625 fixed rate!
I don't see how anyone could not see this. Come in unless you were maybe twenty years old
And why aren’t those renters in jail already???!!!!
ive been building homes in socal for 30 years, the number one reason my permits are deined is, NOT ENOUGH GRID. followed by, water, traffic and environmental. if you want to solve the housing problem, fix the power and water problem.
The #1 problem is NIMBYs mandating single family homes and restricting housing density. Infrastructure can be addressed.
California's water shortage is the result of agriculture growing unsustainable crops. Water equates to profits and there will never been enough profits to satisfy shareholders.
Thank you Jerry thank you for all the information just one more question if you can answer why there's so many empty house for sale ? this is a very unusual from I view. I'm from the Los Angeles .
Scary! Prices are way up! Interest way up locked in for long term… can’t keep going up , there’s going to be more upside down equity and another crash likely… 2008 was not exactly the same but this is bad too. Surprising that not more people are selling at the peak …??
I think another reason the problem wasn't as bad in the early 80s as it is now (despite the double digit interest rates) is that the GIs that came back from WW 2 started having kids like crazy and their kids were reaching homebuying age in the early 80s. The fertility rate of women born in the 80s and 90s whose kids are reaching homebuying age today is a lot less, especially if you exclude extremely low income women whose kids will probably be permanent renters.
America the unaffordable.. Happenz everytime war funding goes ballistic.
During pandemic, the low interest rate was the driving force for rising housing price. Low construction rate cause lacking of housing in America
I don't understand the crisis. If it's too expensive just move to another area. Once the movers move, the home prices come down as demand fall. There's more of a stubborn crisis than a housing crisis.
Thank you for the updated information. What do you think about adding an ADU to your property is this a good time for a construction loan?
i moved to the valley from the bay in 2019, best move of my life!
You want a medal 😅
6:45 Yeah sure... you could find a house in 1982 for $53,000... that's true, well not in San Diego where I lived but sure... However, instead of a $150K yearly salary that I could make today, I was making $16K fresh out of college... so there's that.
The problem is not everyone makes $150k now. In general, homes were selling for 2-3x salaries in the 80’s. Now it’s roughly 8x salaries. So it’s all about the ratio of income to home prices. It’s the least affordable time now than it’s ever been.
she said go with your gut feeling about someone and she said at first her gut feeling said the squatters were good people. Landlords better pay websites to pull up future tenants info and make phone calls and drive to past locations of the tenants.
This sounds like a commercial for California.
Either they get you with the higher prices or higher rates .. regardless of which you will end up paying big money
ban short term rentals, cut down permit fees/ wating times, offer low financing oppurtinities for adu/new home builds
Where is the bathroom in the van?
You wouldn't have to build fast if we limited how many properties investors can buy. Investors come in and sweep up homes and price out regular people who want to live there. Start first with getting these investors to sell. Prices will go down rents will go down. Also the cost of building is just too high. It's impossible to build affordable housing when costs are so high. This is all no brainier, but corrupt people want to make money and who cares about regular folks.
Great Documentary
Prices are way too high. That couple overpaid for their home. We need a price correction downward..
Thank you.
Early 2000’s 6% was a good rate
I saw this and she’s a former San Francisco prosecutor I automatically thought Napa is stupid. Why is a small county going after her she probably knows people she knows the law. It sounds crazy to me and she will probably win. It’s like after they realizes who she is and not causing a big problem let her be. She’s probably going to mess with them because they messed with her. This makes Napa look so stupid.
Imagine feeling bad for landlords 😆
When are people going to realize that living in California is NOT sustainable. You cant retire and live comfortably and the governor is imposing so many ludicrous bills into law. Most are in denial but many like me, saw the reality and left. I sold in August of 2020 and moved to Chino Valley, Arizona near Prescott. My brand new home was $299k. My cars registration was $171 for FIVE years with no smog check and my average electric bill is $60 a month. And theres very few homeless and i have 4 distinct seasons
Supply is not low prices are very high so people can not afford it specially with these interest rates makes it even impossible! This inflation is bad for all of us. America is at its worse!
500k loan plus property taxes
These people are one family out of 100 that could afford it.
You can refi to a lower rate if rates drop. If rates rise, you will be glad that you locked it. 30 year fixed rate mortgage is paid off in 30 years, rent continues forever.
Not here in Santa Rosa… still multiple offers and rising prices :(
🤡. I just checked and see tons of price reductions. Prices are starting to come down everywhere- even in silicon valley
@@fgjf1079 what! I have been looking for 8 months and making offers every week… get your clown face out of here! Because you saw some statistic overall prices are up and I keep getting beat by cash offers
@@fgjf1079 houses that used to sell for 2 million are now going for 1.8… but everything in the lower end is up and people are fighting for anything under 800k
We went from saving for a house, to saving for a down payment, to renting…. Society is turning into a subscription-like model so we keep consuming and pay for corporations. We go full circle with the disappearance of pensions and instead, 401ks where you put your hard earned money back into stocks and bonds to grow those corporations. I know my comments sounds a bit too “blue”, but we truly live in a more and more capitalistic system where the individual is being squeezed to the point of modern slavery.
Really missed the mark on solutions. Instead of focusing on upzoning and densification to increase supply the first suggestion was to pack up in a live in a van. 😂😂 The prefabrication/3D printing is fun in a scifi way but its still only scifi as this company isnt able to produce at scale yet
Classic case of overpopulation ... Too many people in California already. And keeping the boarders wide open doesn't help the " housing crisis" or out of control inflation. There are way too many people seeking free housing, free food, and medical. That puts a strain on resources, that most people have to pay for. But the demand for housing and other resources increases as more and more people immigrate to the US especially to The Sanctuary State of California.
Solutions are 3D printed homes, Renovate $3000 shed for the homeless and have state and federal inmates build tiny homes for Gen XYZ
There are solutions, but they would crash the real estate Ponzi scheme.
The solution is higher density housing. 3D printed homes aren't going to address the problem. Comical.
High density like Singapore, Hong Kong, Japan