Join my company's free mailing list: bit.ly/PCI-YT1 Books mentioned: The Secret Life of Real Estate and Banking: bit.ly/SWsloreb-YT1 The Secret Wealth Advantage: tr.ee/P4VfvQ1fQ9 Power In The Land: bit.ly/PA-PTL2-YT
Absolutely invaluable information from Phil. The corruption within the system is rife and it won't come to fruition in our life times. Still the transparency he provides is so reliable and comforting
min 54:00 If you look at the stock market drop during the two 17.6 year bull market cycles of Kerry Balenthiran 1947-1964 and 1982-1999, the market barely dropped. Only banks and real estate in 1989-1992. We might get a bull up to 2035 according to this cycle.
min 57:00 AirBnB had 80 listings in 2010, 360 in 2011, 1000 in 2012, 2300 in 2013, 5000 in 2014, and 8000 in 2015. 5000 listings is 0.1% of total housing transactions in the USA, which has been 5 mio during 2010-2015 each year. Thats a drop in a bucket, unlikely to have had any meaningful influence on housing demand and price recovery.
This has 2.6k views when it should have 26 million. I wonder if Phil used to think he'd be giving away the goose with interviews like this, only to find no one's wise enough to listen anyway. What a world we live in.
@dave9547 I'd say buy if you plan to live in it long term as long as you're confident you can make the mortgage payments in a serious downturn in a couple years. If it's an investment and/or a flip I'd almost definitely wait at this point.
I've read Phil's citizens dividend book but I still can't follow the calculation. For once, aren't the oil drilling licenses already auctioned in most countries, like for example the 5G licenses in Germany? Therefore, the state collects the maximum rent of these licenses that minimizes oil company's profits, given there is sufficient competition among the upstream oil producers fighting for the land/oil drilling licenses. Corrupt countries who are selling these licenses to corporations in exchange for favours to the country's dictator need to deal with this problem first of course. And secondly, we already have a property tax of 1% on average in the US, which should be around 3% of the land value if the land's value is one third of the whole property including the building. Hence, what difference would a small increase to 5% make?! If you abolish private land ownership completely and collect 100% of the rent by only giving out land leases, who is going to decide how much each piece of land is worth? Doesn't that open a huge window for corruption, typical for such central planning? Because if some state governcy decides how much rent you have to pay, how can they objectively and fair determine rent? Or is this an accepted side effect of the whole idea, that some people will end up lucky paying little in a good district while others pay more than what a free market would pay?
Its a free eBook! What, you think the entire thesis would be in a 10 page digital book? No, the reason Phil needs to write a proper book about this is, as you've stated, there are multi-layers that need to be peeled back to make normal folk understand whats possible.
Lots of interesting ideas here, however a big fallacy here is that extraction of “natural” resources is somehow “unearned.” Resources do not come ready for use. It’s takes specialized knowledge, skills, tools and resources to turn unusable material into a usable resources - all of which are earned. Why would an individual whose contributed little to none of those inputs be rewarding of the output? One’s ‘need’ does not impose a duty on another. Needing to eat, doesn’t mean someone needs to provide them food. Needing housing doesn’t mean someone else must provide it. Each individual’s values must be earned, or he will not keep them for long. “The world is not so crazy a place to reward undeserving people.”
@@RomaTomassi You don't get it. Example, you tomoassi, do you have expert knowledge in geology? if no, how would you find and extract a resource to mine, profitably? You can't, so what value do you bring to making it valuable? You don't. To think you have a right to something you didn't produce is some type of socialist/communist hidden premise..
Phil i adhere to your thesis and understand land rent etc. Its brilliant... but mate... noones going to space. And the earths flat. Its a wonder someone so smart can't see that. I have patel's book also. Cheers
Join my company's free mailing list: bit.ly/PCI-YT1
Books mentioned:
The Secret Life of Real Estate and Banking: bit.ly/SWsloreb-YT1
The Secret Wealth Advantage: tr.ee/P4VfvQ1fQ9
Power In The Land: bit.ly/PA-PTL2-YT
Absolutely invaluable information from Phil. The corruption within the system is rife and it won't come to fruition in our life times.
Still the transparency he provides is so reliable and comforting
Great stuff Paul, thanks for interviewing the boss - great to hear Phil just open up and simply talk.
I've never heard Phil talk so much haha. Thanks for spilling more beans, I loved it.
Great interview here.
Top interview, thanks
min 54:00 If you look at the stock market drop during the two 17.6 year bull market cycles of Kerry Balenthiran 1947-1964 and 1982-1999, the market barely dropped. Only banks and real estate in 1989-1992. We might get a bull up to 2035 according to this cycle.
Excellent once again.
some good questions here but price of entry is an annual sub for a drip feed?
min 57:00 AirBnB had 80 listings in 2010, 360 in 2011, 1000 in 2012, 2300 in 2013, 5000 in 2014, and 8000 in 2015. 5000 listings is 0.1% of total housing transactions in the USA, which has been 5 mio during 2010-2015 each year. Thats a drop in a bucket, unlikely to have had any meaningful influence on housing demand and price recovery.
You Sir - have compeltely missed the point made at 57:00.
This has 2.6k views when it should have 26 million. I wonder if Phil used to think he'd be giving away the goose with interviews like this, only to find no one's wise enough to listen anyway. What a world we live in.
Wise to buy a first house now or wait?
@dave9547 I'd say buy if you plan to live in it long term as long as you're confident you can make the mortgage payments in a serious downturn in a couple years. If it's an investment and/or a flip I'd almost definitely wait at this point.
@RomaTomassi exactly what I'm thinking 👍
I've read Phil's citizens dividend book but I still can't follow the calculation. For once, aren't the oil drilling licenses already auctioned in most countries, like for example the 5G licenses in Germany? Therefore, the state collects the maximum rent of these licenses that minimizes oil company's profits, given there is sufficient competition among the upstream oil producers fighting for the land/oil drilling licenses. Corrupt countries who are selling these licenses to corporations in exchange for favours to the country's dictator need to deal with this problem first of course.
And secondly, we already have a property tax of 1% on average in the US, which should be around 3% of the land value if the land's value is one third of the whole property including the building. Hence, what difference would a small increase to 5% make?!
If you abolish private land ownership completely and collect 100% of the rent by only giving out land leases, who is going to decide how much each piece of land is worth? Doesn't that open a huge window for corruption, typical for such central planning? Because if some state governcy decides how much rent you have to pay, how can they objectively and fair determine rent? Or is this an accepted side effect of the whole idea, that some people will end up lucky paying little in a good district while others pay more than what a free market would pay?
Its a free eBook! What, you think the entire thesis would be in a 10 page digital book? No, the reason Phil needs to write a proper book about this is, as you've stated, there are multi-layers that need to be peeled back to make normal folk understand whats possible.
Hear for the accent
Lots of interesting ideas here, however a big fallacy here is that extraction of “natural” resources is somehow “unearned.” Resources do not come ready for use. It’s takes specialized knowledge, skills, tools and resources to turn unusable material into a usable resources - all of which are earned. Why would an individual whose contributed little to none of those inputs be rewarding of the output? One’s ‘need’ does not impose a duty on another. Needing to eat, doesn’t mean someone needs to provide them food. Needing housing doesn’t mean someone else must provide it. Each individual’s values must be earned, or he will not keep them for long. “The world is not so crazy a place to reward undeserving people.”
Ask ChatGPT "what are resource rents" maybe you'll start to get it.
@@RomaTomassi You don't get it. Example, you tomoassi, do you have expert knowledge in geology? if no, how would you find and extract a resource to mine, profitably? You can't, so what value do you bring to making it valuable? You don't. To think you have a right to something you didn't produce is some type of socialist/communist hidden premise..
@@braytonbushby Utterly irrelevant. Follow my advice and then ask ChatGPT why the point you're attempting to make is utterly moronic.
Phil i adhere to your thesis and understand land rent etc. Its brilliant... but mate... noones going to space. And the earths flat. Its a wonder someone so smart can't see that. I have patel's book also. Cheers