The new administration is already exerting negative influence over markets before they actually get into office. Did you hear him talk about a 25% tariff against Canada and Mexico. Go look what happened to those currencies versus the dollar over the last hour or two of this post. Seriously, if you trade currencies look up the USD/CAD and USD/MXN. Now imagine what he'll do on a global scale when in office. He's already looking to go after Europe.
i have been saying for decades that it has always been cheaper to rent a place to live than to buy a place to live . even back in the 1970s when u could buy a house in LA for 25 k that was considered alot of money back then for most people and u could rent that same house or one like it back then for 300 per month with little or no deposit . I remember back in the 80s when alot of rentals had no deposits required at all or if they did it was like 100 bucks .
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I’d rather live in a tent than rent an apartment again. The noise, management and maintenance turnover, smokers on their patios above or next to you, noise, smelly foods, package theft, parking spot battles, renters in some cultures that sign and acknowledge only one family or whatever per unit but they have aunts, uncles, adult brothers and sisters all piled in, trash heaped up in dumpsters or spilling all over. No way- never again.
We sold our house to downsize but are renting for a year in the meantime hoping prices go down a little. We absolutely hate renting. There is nothing better than owning your own home in my opinion. I love being able to do whatever I want to MY home.
The same here. I sold my house in March and am renting, hoping the housing costs where I moved to will come down. So far, they haven't, but I am in no hurry, so I am willing to wait it out.
@@valeriebrown7946I wouldn’t say that they were being smug but yes we have to pay property taxes. Unfortunately we can’t really do anything we want with our home because of the HOA (I hate them and they should be outlawed).
Why would prices come down when we have a 25 percent tariff on Canada announced this week by trump? You know our lumber comes from Canada for home building, yes?
I’ve never understood how houses “appreciate” so much when the materials they’re made out of don’t get better they deteriorate. I thought that’s why cars don’t appreciate. 🧐
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
Sophie Lynn Carrabus is the advisr I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
A solution: the federal government institutes a 2 percent property tax and a 2 percent homestead exemption. the situation with all these empty houses sitting around with prices that are too high will change.
Its not like that. Invitation homes, whom I was about to sue until they actually paid what they owed, actually manage more than buy I believe. Managing removes all risk from the corp and their large dominance insures a monopolistic hegemony. They influence prices greatly by both managing and buying. Its really mom and pop corps that are strangling the markets.
Get yourself a nice pension and a set mortgage with a low interest rate. Invest in dividend ETF's and rake in guaranteed returns so that your capital gains/dividends pay for the property taxes and repairs. Never spend more than 30% of your NET income on a mortgage. Violla! Problem solved.
Okay listen to this guy and never buy a house ever. He pisses on every issue there is. I just depends on your personal situation financially. Research and common sense goes a long way.
@@jimshoe402 Wow! I retired early also. You beat me though. My house n condo that gives me additional monthly income are paid off. In addition to my work I flipped houses and condos over the past twenty plus years. Not touching social security yet either. Retired debt free. He gives people no hope for ever owning a home and I disagree. He gives people no hope about anything. Congratulations on your success and retirement. Respect.
@@surfboard396 It's true Michael B tends to focus on negatives. But he's pretty well-informed - smarter than the average real estate agent, for sure - and it's always fun to see him strolling around nice neighbourhoods in the sunshine, right?
I retired "in place" here in the Great Lakes Region...love it. Love the snow & 4 seasons. Never saw the attraction of Florida. Oh, I retired 20 years ago. At 80, my "hut" is long ago paid for.
These prices are delusional. The only thing that makes sense to me here is that the owners are using "unrented" status as a either a tax loss write off or as a mechanism for money laundering.
If a house is taxed at the purchase price +2% per year the tax bill isn't that much. Outside of FL and CA insurance is cheap by shopping around. If there is no note on the home, and the price inflated 25% in the past 3 years you have alot of tax bills and lots of insurance payments that can be put in to support a 25k gain on each 100k of property. A lot of owners are holding out for 10% more return that might happen this decade or may not. The problem with these videos is the prices are insane, the tax bills are insane, the monthly HOA costs are insane, before even talking insurance.
Nah, Miami is an international market. 23% of the sales volume in Miami are foreign buyers. The average for the USA is 2% of sales volume being foreign buyers. Consider you were a very wealthy business owner in Latin America (specifically Venezuela or Argentina). You don't want to keep your wealth in those currencies, you want to put your wealth somewhere safe where it will be protected from inflation and from Latin Ameircan governments... what do you do to protect yourself? MIAMI REAL ESTATE You take your money in Argentina out and buy a $7 million chunk of newly built real estate in Miami. For a normal working class American, it doesn't make any sense to buy a super expensive piece of real estate in Miami, but for anyone with a concentration of wealth in Latin America... expensive Miami real estate is their best option to protect their money.
@@tropicaljays Ah, this is why the US should pass a law that some countries have figured out to protect their citizens: you should have to be a permanent resident of the United States to buy property in the United States.
@@7thlady if they did that, there would have been no boom like this. It is immigrants who are buying at higher prices. They are bringing down payments from their countries by selling some assets there. 2% interest rate made 1 million loan for 150000 income possible. at 6%, they would have 500000 house only. I hope they all locked the rates for 30 years. Else, many homes will be coming into market as we reach 2025.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $$275k to $850K...
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
One of the reasons that price of the houses are high is because of investors are buying single family homes as if Stock Market is not enough for their greed , there should be a law to prevent investors from purchasing homes so that owner occupiers must have the priority to own it .
Houses are being built in our neighborhood for renting. Right next door to my 25 year old House a new one is going up and it wont be for sale, its just a rental. I also happen to live in an HOA and they allow for it.
I actually think it's the greatest generation and baby boomers dying off and their children are squandering all that wealth they just inherited. They act like lotto winners. It's like poor old dad just left me 500k, Instead of buying that 300k home lets buy a 400k home and 100k truck. It's the easy come easy go attitude.
@@MultiAnne36 25 years old (1999) isnt an old neighborhood in many areas where this matters. You moved into an undeveloped tract neighborhood with an HOA, one that didn't fill or establish, so expect newer trends such as rental homes. Be glad you're still growing.
We paid our house off. It's like a giant weight being lifted off our shoulders. Sure we have to pay taxes and insurance, but its nothing compared to renting.
Sold mine, bought a slip and a boat. My biggest bill for HOA, electric, Water cable and wifi was $240. My insurance including contents was $600. I don't work. 60 years old.
depends where you are renting vs the money you have to spend on upkeep to your house and all the bills you pay...in my apt i have no water, garbage bills and my electric bill is only fifty bucks a month...pretty cheap eh?
A house isn't the best investment, considering the state of the economy right now. After selling my Boca Grande house, I want to put $200K into stocks because they can still increase in value during difficult times. Do you have any great ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
You should celebrate by door dashing a bottle of champagne and Uber eats an order of chicken nuggets and a Starbucks! Oh and put all of that on a credit card! In all seriousness though, congratulations! 🎉 we are at 4% but live in a big house needing to downsize.
Trade skills as it was before and on into the 20th century, was practice by more than half the population, until lured into cities /factories with the promise of pensions 'The American Dream', no longer extolled. Don't buy a house, buy rental property it will pay for it's self, duplex multiple units, he'll buy a large lot based on what the county assessor 10 to 30 year estimate based on planed growth. Prefab homes on a lot, 2 & 3 bedrooms offered as courtyard Apts. The wife would love a nice yard fir children to be safe in, especially if you owner stay/ rent others and leave for next generations. It's doable, you just have to be willing and able to endure for a time.
The best home in my opinion is a small comfortable home on acreage with a commanding view or waterfront away from people. Small is easy to take care of and affordable. It gives you the freedom to travel and enjoy life. A small home is easy and very inexpensive to build if you decide to DIY.
Property isn’t all that cheap either. Then think of what it costs for excavating the property for building prep. Bringing in a drive way, well, septic, cost of materials and labor etc. It would cost me more to downsize then it would to stay. Although I love the country the best.
With the economy still pretty hot and inflation sticky, U.S. stocks ended Friday’s session in the red with all three major averages notching weekly losses as inflation and global crises intensifies.The Dow Jones Industrial average dropped 1.24%,The S&P 500 shed 1.46%, and the Nasdaq Composite declined 1.62%. Shares are extending a downtrend. I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if there are any short term opportunities I can invest in.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I will be forever thankful to you, you changed my life and I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Mr Jihan Wu is also my invest analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helping in changing a lots of life's
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You’re absolutely right! With guidance from an investment coach, I was able to diversify my 450K portfolio across different markets and grow it to over 830K in net profit through high dividend stocks, ETFs, and bonds..
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
I bought my first house at age 21. Forty years later, I haven't regretted it for one second. I paid rent for one month. Even at a young age, rent felt like flushing money down the toilet.
I agree. The prices always go up eventually. Look at the Great Recession from 2008. Would you be better renting or buying even if you bought in 2007? Rent gets you nothing.
Renting has its pros for sure. No maintenance costs and being able to move when you want/need to is a huge plus. Definitely has its cons, noisy neighbors, pot smoking neighbors, pet owners not cleaning up after their dogs, non-residents having loud parties at the pool etc. Rent goes up with every lease renewal.
All these cons u mention are just as likely when owning. Ex loud neighbors, fireworks, the neighbors kid who owns a hot rod, lawn mowers at all hours. It’s harder to move away when u r an owner.
So what would your net be if you rented your property out with a property management company? If you make money that can either pay all the rent on your new rental, or offset it at minimum. Win win. Free house. Free apartment (or discounted).
@@noreenn6976 I don't get this. I live in an apartment that I own. Some of my neighbours rent, some own. Are you saying that buying my place somehow stopped my neighbours smoking pot and making noise, etc.? In fact my neighbours are fine, mainly, sometimes the students on the fifth floor can be a little careless, but generally everyone is polite, well-behaved, take out the trash on the right day, refrain from puking in the lifts and so on. All this has nothing to do with whether they own their homes or not.
Thank you for this Michael. I am a renter and people assume I must be poor. Far from it. Do what works for you. I love the freedom and I love my apartment. Someday I may buy again. That day is not today. I have owned a couple houses over my life. It IS expensive to maintain a house. Not to mention it requires a lot of your TIME, which has more value as you get older.
At this point I hope to by a home during my last 15 years of life expectancy and hope I can have a good life insurance policy and trust for my kids to pay off the home and leave them something…. Hopefully… we all just want ourselves and our families to be okay and this greed is just hurtful to all of us. Blessings and success to all❤️
No one born in America is poor. Ignorant. Yes. No one reads anymore. Or reallyy takes responsibility for themselves they get someone to do it for them.
I'll tell you why it's scary to be a renter: Even in states with decent renter protections like CA, no matter how long you've lived in a home and integrated into your community etc, your landlord can tell you that you have 2 months to get out, and they can do that even when there is a housing crisis and rental rates are sky high. Maybe you'll get thrown out into a market where rents are 1.5-2x what you pay now -- that happened in the past couple of years. I've seen that happen to numerous older people when we used to live in San Diego, and they ended up having to move hundreds of miles and inland, away from everything they ever knew. Have a good landlord? Hope they never pass away, experience life changes, need to move away and sell, etc. Hope the market doesn't go up too much and they want to cash out. You never know. None of it is in your control, and that's the game you play. It's easier to play until you have a family. Also, when you get old if you own your home at least you have an asset you can sell and become a renter with something in the bank if you really need to. If you get old and you're a renter you might have much less cushion, vs. someone with similar liquidity/income.
Exactly this. I was a CA renter for 18 years. I finally put together enough money for a down payment on a home and bought one this month. My mortgage is almost double what I’m paying now for rent, but to me it’s worth the extra cost because I can retire in this home with peace of mind, and not depend on a volatile landlord.
Well...yes, but if you plan to stick with ownership, you can eventually pay off the bank. At least you could until a few years ago, now, yes, you may be right. Just be ready to jump in if rates ever get down to around 4% or less again. When I came to America in 1981, we bought a house at about 15% and lost it within a year - just couldn't afford it. But things changed and in 2000 we got our house for 3.5% and paid it off 20 years later. These things tend to be cyclical - don't give up.@@NeveauRock
Back in 1998 I bought 9 acres in the back of San Diego for 80k. I went to Home Depot every week buying what I needed to build my home once I had the slab poured. I built a 2850 sf home for about 60k in materials. I sold the place in 2006 for 950k.
My grandparents built their house that way,then their brothers, who'd helped them build it, got the same help from them in building their own houses. Back in the 1920's FL.
Houses are money pits. Always something hot water heater, HVAC, and a new roof will cost thousands. Now in Florida the taxes and insurance are crazy. Even if no mortgage the monthly taxes and insurance are insane. Yes it’s nice to own your own home but Florida is insane.
You must be buying big crappy homes and didn't plan for home ownership. If I had to change my HVAC,water heater,and roof tomorrow it would cost around $40k. I have the cash. My $260k condo in Oklahoma is paid off and I have over 4 million net worth. Just paid my $1650/yr. property tax. Savings,investments,401k,IRAs,annuity,etc.. Have around $600k cash currently earning between 2.6% and 5.2% in HYSA,credit union savings,and laddered CDs. Also a $250k emergency fund that's grows and never been used. No issues. Also a condo in Florida with no issues at all. Too new to have any.
My parents bought a house in 1997 for $300k and now it’s worth $3 million. What a money pit 😂. I bought a house in 2014 for $400, now it’s worth $1.1m. What a money pit. Upgrading the furnace and water heater for $8k total was such a waste 😂😂😂😂😂
@@itshadoukensell it and buy another one with the money. See...your newfound wealth was just an illusion. You are basically even minus home upkeep expenses and taxes.😂😂😂😂😂
Just got a notice of non renewal for my home insurance. Nationwide is saying my agent no longer has a contract. Already found some insurance companies cheaper than what I was paying.
its not the house itself that holds most of the value , its the LAND its on and the location and all the water and power and sewage system connected to the land that gives most homes their value . if u build a really nice house on land in the middle of nowhere with no water and power and sewage system going to that piece of land then the house will not be worth anything .
No, houses have increased over the last 30 years well above the inflation rate. If you bought in a place that becomes more attractive to live in as time goes by, then more people want to move there and the amount others will pay to buy your house increases faster than inflation. Houses are worth more than in 1985, if you adjust for inflation. There are inflation calculators on the internet and you can plug in different values in different years to see the difference.
No doubt a 50 basis point rate cut is in order, inflation is a killer for the middle and lower class. Monetary policy decisions should prioritize economic stability for the working class, not cater to wall street’s big boys and politics.
My concern is where we will begin to see the effect of these cuts, is housing going to follow suit? I missed out on my dream home during the pandemic, I am now all eyes and ears for a further decline in mortgage rates.
Further decline? This is the reason I had wanted to refinance in the 1st quarter according to our budget but my spouse likes the space and the pool. If I go ahead with the plan, I will have over 200k to put in a HYSA as I had initially intended, seeing stocks are very volatile these days and the bond market (10Y) is pricing in the effect of rate cuts by ticking upwards, is it a good time for an average joe to get into the financial markets?
Consider consulting a financial advisor to protect your retirement savings from inflation. I personally saw my portfolio grow from $750,000 to $1.2 million in 3 years, saving $23,000 in taxes and earning $45,000 in dividends, despite 2.5% annual inflation. A financial advisor can help you rebalance your portfolio, optimize retirement income, and develop a tax-efficient strategy to safeguard your future.
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
I've stuck with the popularly ‘’Stacy Lynn Staples” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Stacy after inputting her full name on the web, she seems highly professional with over a decades of experience.
Florida will be full of California rich who are moving here. Our residents are being priced out. How unfair when CA homes are so expensive and bring their money here.
@@valsomeone2180 Invest all your money in dividend stocks and you will mostly keep up with rent increases. Obviously, it depends how much you have. In US, I would say you need at least $2M to be on the safe side.
We paid our house off last year. We now only pay $300 per month for taxes and insurance. Yes, it will increase year by year, but so will eveeyones rent. I like my margin between my cost and what rent would be.
I'm from the Nordic countries and I simply love being a lifetime renter. The once unionized - but still non-profit - company who owns my block of flats have nice janitors who fix my radiators and plumbing etc. I have a free launderette too 🙂The house prices and renting prices Michael mentions are insane!
I've owned 2 homes as a single woman and honestly, it was a pain in the ass and SO much more expensive. Glad you pointed it out that you never really own anything. Either the bank or the city does. It's such a bummer.
Yes you own your house and you can change things inside it etc. Renters can't do that and can be asked to move out any year. You have so much more freedom when you own. You don't worry about your damage deposit. You learn how to do the easy repairs. I have never rented but from what I hear, it is not that great.
@@jeffguarino2097 renting isn’t all bad. It just depends on where you are and who you rent from. I’ve rented and owned and just say that while I enjoy the freedom of renting, I also enjoy not being responsible for everything that happens with the home. It could get stressful. I do eventually want to own again one day but until then, I’ll rent, invest and save my money.
Boy, I was not prepared for the rising hidden costs like homeowners insurance, taxes other escrow expenses. Water, sewer, trash. Electricity. Inflation in general. My income is spent keeping up with all the regular expenses like food and healthcare, that there’s nothing left for home maintenance, let alone repairs. Unfortunately, in my city, rents are higher than my mortgage, so I thought buying would guarantee a roof over my head. Realizing that I could lose my home is stressful. My advice is, no matter whether you buy or rent, Save! Save! Save!
Good piece of advice! I’d like to add, also stay under budget! While we may not like to pay for something we don’t WANT sometimes paying for what’s affordable is what we NEED.
I worry for folks in the south. I think that whole area becomes uninhabitable in no more than 10 years due to multiple cat 3 or bigger hurricanes coming through every year.
My first mortgage when I was 21, under the Carter administration, was 21.75%. 30 year mortgage. I put a $100 downpayment. I rented out half of the single family house to a single guy. I paid my payment every month plus the same amount towards the principal, plus each tax return and bonus went to the principal. I paid it off in 7 years. 😢
That's how you do it! Pay more on that principal and save tens of thousands on interest. Lots of people aren't disciplined enough to do this, or they're stretched to the dollar when they figure their budget.
I would prefer owning over renting. Renting you are under another person authority. I have seen too many people get kicked out because the owner wants to us the property for something else.
@williamrogers4917 -- I would be afraid to rent from a homeowner for those very reasons. You never know when the homeowner will want to sell, move a relative in (and give you notice), or even default on his mortgage. Sure, the renter supposedly pays the homeowner's mortgage, but what it the homeowner DOESN'T USE that money to pay the mortgage? I'll stick with a rental community,
The American Dream of homeownership has become The Nightmare on Elm Street. Owning a Home or condo is an Endless Liability. While Homeowners insurance, real estate taxes, water bills, sewerage bills, maintenance and upkeep costs, trash bills go up each and every year there are No Guarantees and nothing in place to prevent property values from dropping like a rock.
I used to rent and now own my home. I can honestly say it is far cheaper to own a home, even with insurance and taxes than it is to rent. Rent constantly goes up and you have no control over it. I now have my home paid for and my insurance and taxes are less than 5,000 a year. Maintenance is minimal because I totally remodeled six years ago and replaced the roof, heat and air, and other expensive items over time. My equity has increased 50% since I purchased the home while including the remodel. I can retire knowing that unless things go really south, I will be able to afford my home until my death. Pick a place that isn't exorbitant to live yet still has a good quality of life.
The video is about the CURRENT housing market. Since the blowup in home prices after the pandemic, it is much cheaper to rent for the time being and the money you save in rent can be invested in the stock market.
property taxes up BIG - the local govs are flush and they will never reduce the taxes - the real estate/public education industrial complex is bad for the country
Im a homeowner. I fix everything myself. In the end, homeowner is better than renter. BUT, theres a big but, this no longer hold true in today's market. If you buy today your cost on housing is much more than renting. What im trying to day is the gravy train is over. If you bought 20+ yrs ago, you are golden. My mortgage cost less than a one bedroom apt. If i buy today for the same house, my mortgage would tripled..
You’re lucky you could do the work yourself. I now have to get five quotes on any project because the ripping off is amazing. Some contractors are literally overcharging by 100% because they don’t want to do the work and they want you to go away, but at the same time they want to see if you’re stupid enough to pay them that money. Since Covid, contractor work is like $150 an hour with a minimum required two hours.
@latsnojokelee6434 There's honest contractors out there who don't always take advantage of HOs. You just gotta find them. I'm extremely grateful (not bragging), that I'm very handy. From automotive, plumbing, AC, electrical, flooring, drywall, to remodeling, I do it all. I haven't hired a contractor or paid a shop to fix my home and my car since God knows when. Except for costco when I need new tires. 😆
If someone cannot afford more than 20% down for a mortgage, then renting might be the best option. However, there are few cases where buying a home for cash does not beat renting.
A bad thing about having a top rising while everyone else is sinking - is that people who rent out for their income have a ceiling on what the working class in their area can afford, while there seems to be no ceiling on home costs.
I have been a renter for 13 years. There is a new roof, new exterior paint, new water heater, new stove, new refrigerator, new furnace, new washer/dryer. I did not have to pay for any of it. I don’t pay property taxes. I am a senior citizen now. No reason to own a home. Landlord helps me out because I take good care of his place and he does not want 3 families living here trashing his home. Go setup for all involved.
Renting is an issue because rent goes up every year or two, whereas income does not for everyone. In my area a one bedroom apartment is 1700$/month or more. In 5 years it will be over 2k$. This is why a mortgage is a good idea if you can get it cheap. USDA loans offer 4.375% interest
My spouse and I have owned our home for over 20 years We do not have home insurance Our taxes are super low And all repairs are done by us We have saved over two hundred thousand dollars, By owning our 2 bedroom townhome Our last electric bill was 104.67 cents
I buy insurance but I minimize and increase the deductible to the max. I do all my own repairs, I fixed my dishwasher, stove, all the plumbing, change toilets and do all the electrical and add new circuits in my house when I want. I fixed my washing machine that had a blown rubber coupler and my dryer had an open element and I just tied it. I changed my gas hot water tank for $200. I fix everything on all my cars and even changed the head gasket on one. I fixed my furnace that had a blown relay on a circuit board and I fixed the computer in my car by flashing the memory chip in the power control module. I bought the electronics to do the flashing from China and got extra computers from the scrap yard to flash. Now youtube shows you how to fix everything. I just fixed a Roland Piano that had some caps that were bad. I refinished my deck last summer and put up an aluminum railing with tinted glass. I built an attached garage ,4 cars, to my house with a room above the garage with a bathroom and kitchenette and all wood came from Home Depot Canada. I picked all the straightest boards instead of having a pallet delivered with crappy wood and then I laid down my stone driveway and cut all the stones myself. About 800 sq feet. I designed everything myself using computer programs to get the best looking facade for the house. I did all the tile work in my house, floors bathrooms, showers , jacuzzi room. This year I plan on putting up some solar panels but make them removable and not connect them to the grid. Put in automatic transfer switches so that when the sun goes down and the battery is depleted , the components in my house will switch seamlessly to the grid. I am only going to power the most energy hungry items, like the fridges and freezers and computers and TV's. They use 90% of the power. Just the A/C in the summer won't be on solar. I literally have zero repair bills and I also fix all my kids stuff and cars because I am retired now. So I change all the oil in all the cars. Changing the oil is so easy and it costs $35 for synthetic with the filter. You pay $80 at Canadian Tire. I repaired my daughters car, brakes, tie rods and other stuff for $500 and Canadian Tire wanted $2500. So I saved $2000.
@@madelineveggie3931 We do not live in fear Insurance is too expensive And the deductible for a named storm is way to much I checked last year Our home is 45 years old 6 blocks to the ocean in South Carolina There are a lot of homes and mobile homes over 50 years old just blocks from the ocean Yes anything can happen But we decided years ago to not pay the corrupt insurance companies
There are a multitude of problems with renting. One of them is if you have pets. I have a German Shepherd and 3 cats. If I do a search several hundred houses pop up, and then when I apply the pet filter only a handful show up.
Yes, renting with a pet can be a tough one. Pets are vital to our mental health. When I was a landlord, I always allowed pets but told them that if their dog barked constantly or became a nuisance, I reserved the right to ask them to get rid of the dog, or move.
I’m a lifelong renter. I owned a home and lost it in a hurricane in 1992. Since then I have been able to work and live in multiple countries. Now Florida and my rent is less than $1000 a month. So thankful!
Too high by what measure? If you can't afford to buy anything, then they're simply outside of your budget. But there are also people who can buy, but in their mind it's unattainable. They hang on to that notion without even doing any research and missing out on opportunities. The one evil in housing statistics is the median price of houses for a given market and they're usually misleading to individuals. They don't really mean anything to buyers and sellers unless those numbers happen to be in an individual's price range. I don't even know why they're published so prominently. Banks and government entities are the only ones who need to keep track of them. A typical example is my area. The median house price here is ~$300K depending on who you believe. BUT, the actual real price range is from
@@pojack9979 oh how i wish what u just wrote was true , but sadly its not , no sellers or landlords will lower their prices , they just find excuses as to why their high price is justified .
Owning a house is not all that bad as long as you are confortable paying. Long term you are better of owning if you pay it of in 15 years or less. After that no metter the taxes, insurance, and repairs you are paying less than renting. Right now my house hass been paid for 4 years in GA. Since I dont have a mortgage I pay roughly $800 including the saving for any repairs for a 4 bedroom 3 bath house. I have also finished the basement with two bedrooms which I rent for $1500 a month. So pretty much I live for free. I continue to repeat this process to help myself in retirement.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?
Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.
Renting is horrible. Every time taxes go up, so does your rent. Every year, Renta go up. You have nothing to show for it either. You get to deal with more irresponsible people, the noise, the garbage, the outdoor parking, stolen packages, the smells. No thanks.
In my neighborhood, sellers lower the price if it doesn't sell. In Florida, they raise them? When we bought, our mortgage and escrow were $1,300/month. Rents were about $1,000/month We paid off the mortgage in 12 years so just payments for property taxes, utilities and condo fees. Rents are probably around $2,100 - $2,400 but I don't know of any renters here now. Some of the pain of being a renter is the annual negotiation. You have to be prepared to find a new place and to move all of your stuff from one place to another. You have the stability of your kids and their friends or you and your neighbors. You can modify your property as an owner where you may not be able to as a renter - and you can't take your investment with you when you move. That $8 million house wouldn't sell well in my area. There are very few ultramodern designs. It's more traditional New England homes. The exception is condos and apartments. Those modern designs do let in a lot more light and you have more rooms to view things from but it seems like you have less privacy. I buy day-old bread at my grocery store and make my own sandwiches. If they buy my supermarket chain, then I am in trouble. Maybe. My wife would probably just bake it herself. The hedge fund playbook is to buy a company, extract the value, load it up with debt, pay themselves fees, and then spin it off into a company that they goes bankrupt and leaves the bondholders with nothing. The latest example of this is the Steward Healthcare bankrupcty.
I own a small 1925 house with 2.5 acres free and clear… over the last few years they have been building mansions on “estate lots” (2acres) all around me and selling them for 500k to a million each! And these homes aren’t built half as well as my little 100 year old farmhouse! Yet people are buying them…smh
Just Googled it- I live in Dallas Tx and median home price is $414,000. Property tax will be $12-15,000 a yr. Google says $3,000 a yr for insurance. Include your electricity, internet, maintenance= probably $4,000 per month total. We hated renting a 3/2 home with yard maintenance, etc for $2500/month, so we decided to downsize and buy a condo. Yes, less space (less stuff and faster to clean), no garage (but have a carport), second floor (no more packages stolen, no flood scares), and close neighbors (no fence to repair and no barking dogs outside!). There are trade offs in life. We now pay $1200 for everything for our home including taxes, insurance, hoa, utilities. So worth it to give up the dream of a huge house and yard. ❤
I sold my home one and a half years ago. It was paid for, but the cost of maintaining it was a huge burden for me as a widow. I didn’t want to be one of those ladies whose house is falling down around her ears because she can’t maintain it. I am a happy camper renting a one bedroom apartment. Let someone else worry about repairs. Now I have money to travel and enjoy my life instead of freaking out every time a hailstorm hits.
@robertdiaz937 he is a landlord or was he may of sold it all last year. But Florida is a boom/bust market and this is a Boom time. As a local I wouldn't buy anything post 2020 till the bust probably 2 more years. Honestly maybe 3-4 for a Condo once all the updated code required construction is done and paid for by the last owner and the market is struggling to get out of the Bust/crash of 2026 so prices are still reasonable. Let the other guy lose his shirt I'll come help collect the pieces left behind.
@robertdiaz937 2006 I was working for a carpet cleaning company on the beachside. I remember in 2006 when the investors/landlords started complaining about prices being too high to get the kind of profits they were getting from 2000-2005 it took 2 more years for the crash to really started for everyone else and 2010-2011 was the bottom once everyone ran out of money they already spent their savings and cashed out their retirement benefits.
Michael! I’m millennial who is looking for a first home but decided to rent because of your videos. Luckily I was able to find an apartment to rent for $1350! That was a steal! Im from california btw! The rest of my income are going to the stock market.
California Apartment Dweller. I also found a good deal 7 years ago and have not experienced any rent increase during a time span that rents have gone up 30%. I just stay put and save/invest the rest of my money. The cost of buying a home is well into scam territory. Looking forward to the melt down where the bag holders that created this mess get their asses handed to them.
Michael What about quality of life? I dont want to work all day and come home to an apartment complex and have to take my kids to the park to enjoy a yard. Never mind living like a sardine and worried about my security. Ill take homeownership and the costs. I cant write off apartment payments but I can mortgage interest.
I got mine post 2008 crash when prices were what I'd consider normal again to buy. If I was looking to buy now, I'd just wait it out. Same scenario gonna eventually play out again.
Absolutely ridiculous. Always appreciate your common sense approach, Michael. Very validating. What a mess we have gotten ourselves into. What remains to be seen, is how the heck we will get out of this mess.
Actually, no body ever "owns" a home. At 80, I know I can't take it with me. House is "paid off". But soon I give it away. My end is near. I'm happy, as I know it all goes "poof" soon.
Who the heck would pay $13,000 a month rent? Boy what a way to just take your dollars and just light a match to it and burn it. That’s ridiculous.🧐🧐😳🤷♀️
Renting as an elder ( 72) female has been a freaking nightmare ; 2020 I was evicted and my banking garnished for 6 weeks ( illegal ; must leave a living wage ) 7/28/20 Arsenic in building ( bricks & water ) of 125 year old property . Was very ill . Courts are pro landlords , lawyers wanted $5000 up front . Ask for something fixed and you’re a problem and soon to be outed @ women It’s a hate crime by DOJ , especially older women
Most undocumented immigrants don’t own houses, they rent apartments. Wait till landlords raise the apartment rents on whoever is left when half the tenants are forced to leave. 😮
Most illegal immigrants aren’t living in these million dollar homes you’re hoping will be available. They’re living in homes most wouldn’t even consider renting and working jobs (paying taxes they will never have access to) that very few Americans are clammering to take. I think it’s going to be a big disappointment for those expecting deportations to have a positive effect on the economy or housing crisis.
We have a lot of recent immigrants in our town and where they live is really sad. Disreputable people chop up their homes into rabbit warrens- Turning one bedroom into three tiny bedrooms- And then rent out each tiny little space to different people. Nothing is up to code, makeshift showers appear in the basement. It’s really awful. And if you do want to buy one of these homes, now you have All sorts of code violations to deal with.
Absolutely would not buy a house. I’d rather house hack a 4 unit multi family and then work my way up to 400 doors and beyond. Grant was absolutely correct. Love your channel Bro
Random issues to cover in a renter video: potential that building owner will not be able or willing to pay for upkeep and repairs; jump in rent and need to possibly uproot family from neighborhood and schools; access to private outdoor space; noise. For home owners: option to rent rooms in home to offset costs at a later point (e.g. aging owner); option to learn to do some repairs to offset costs; if district allows - creating a basement apartment for rental - this is done a lot in Canada as we have full basements.
Depends on individual. Some are fine with renting. Many have savings and investments growing from many years ago. Already gotten their money back thousands of times still reinvesting,compounding,etc. working for them and paying their rent with ease. And this is without including pensions,SS,annuities,401k,etc.. This has also been a great home price and market run since 2009 and a lot of renters I know are debt free millionaires living off dividends and interest.
You are assume the value of your property will just keep increasing and there will be an economy in your community that provides livable wages to a big population of potential home buyers. Look at the Midwest.... Detroit, for example. It doesn't always work out as you described.
@NeveauRock incorrect my assumption was its value stayed the same, I would have said the owner would have profited on a sale had I made that assumption.
The unrecoverable costs of owning a home(lost growth of the down payment, taxes, insurance)almost always results in home ownership being more expensive then renting. This assumes the renter is a disciplined Investor.
Yeah people laughed at me for years saying I was foolish paying my condo off 21 years early in 2008 talking about "good debt" and whatnot. I think they understand now. With no mortgage my total household living expenses (including property tax,insurance,HOA,food,etc.) is less than $1400/mo. which is pretty good for an upper middle class area on secure gated private property. Everyone around me are paying $1800 to over $4k a month just for mortgage alone.
Great point about the "carrying costs" of high end real estate. It is considerable and with home prices dropping the offsetting price appreciation isn't there anymore. It is now a lose/lose equation in some areas.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
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 advice but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Stacy Lynn Staples’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
There’s no way if someone has paid off their house…is going to be paying more in carrying costs than someone else paying rent….and think about that rent in ten years…it’s going to be so much more than right now 😮
I agree with you regarding stressing out for paying for these houses it’s ridiculous specially, in Miami. The HOA mafia is never ending and Orlando did a video today about a $21 million assessment on properties particularly apartment properties. Good job brother I know sometimes and critical but I enjoy your videos.
Just 10 years ago where I live - if you were paying 1200 in rent for a place, you knew the mortgage on it was probably 800. Now people are buying homes that rent for 1500 tops - and their mortgage is 1900. lol
@@ColetteSpencer-k5o And let me guess... you're not allowed to pay cash, so you have to pay a transaction fee, to which they get kick backs on? Isn't it awesome!
10 years ago I got divorced. I negotiated to take 100 % of all my pensions and she would take the home, equity, and take over the mortgage . I moved to a rent controlled apartment. After 10 years, I am much better off financially and am 3 years from collecting 100 % of all my pensions. Expenses, such as insurance, taxes, utilities, and repair expenses took a huge toll on her budget.
Many people don’t know how to perform simple repairs like fix a toilet. Some of these handymen charge outrageous prices to replace a fill valve on a toilet.
Just had our HOA dues increases get announced this past week. 27% rise. 25% last year. Started at 235/month in 2020. I’ll be at 575 starting Jan 1st. Dallas townhome.
House --> Rent --> Car --> Tent --> Cardboard Box. You can always save money by decreasing your home convenience or security. Look at how much renting an apartment costs versus a cardboard box...
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Here's our siruation. We have long term rentals and short term rentals. Our primary home in CA allowed us to do with a HELOC back in 2019. Now we are looking to rent in Florida while renting out our CA home for around 2-3K more than our mortgage. Do things like that. We've had friends buy rentals and rent their primary so they can enjoy a cabin in the woods anytime while offsetting costs with short term rental income. So buy rentals at good prices and re t out your primary if it's cheaper to do that than buy. CA is that way right now. To buy my home is 10K month , but you can't it for 6k or less.
Trump Tariffs Explained: The 10% Tax on ALL Imports ruclips.net/video/3nm8A8OLPb0/видео.html
Thanks for EXPLAINING!
The new administration is already exerting negative influence over markets before they actually get into office. Did you hear him talk about a 25% tariff against Canada and Mexico. Go look what happened to those currencies versus the dollar over the last hour or two of this post. Seriously, if you trade currencies look up the USD/CAD and USD/MXN.
Now imagine what he'll do on a global scale when in office. He's already looking to go after Europe.
My wife and I enjoy buying 2 or 3 houses...we are both retired...
i have been saying for decades that it has always been cheaper to rent a place to live than to buy a place to live . even back in the 1970s when u could buy a house in LA for 25 k that was considered alot of money back then for most people and u could rent that same house or one like it back then for 300 per month with little or no deposit . I remember back in the 80s when alot of rentals had no deposits required at all or if they did it was like 100 bucks .
''You will own nothing'' WEF 2030 plan, make us renters of everything,
that somebody will own, hmm, I wonder who that will be🤔
Don't have a job = can't afford housing.
Have a job = can't afford housing.
So why have a job?
I’m closing in on my retirement and I’d like to move from Regina to a warmer climate, but the prices on homes are stupidly ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%) do I just invest my spare cash into stock and wait for a housing crash or should I go ahead to buy a home anyways?
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850K.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
I’d rather live in a tent than rent an apartment again. The noise, management and maintenance turnover, smokers on their patios above or next to you, noise, smelly foods, package theft, parking spot battles, renters in some cultures that sign and acknowledge only one family or whatever per unit but they have aunts, uncles, adult brothers and sisters all piled in, trash heaped up in dumpsters or spilling all over. No way- never again.
So, want to explain how you really feel about apartment living? Lol. I agree with you. I hope never to go back to that.
If you live in a tent. How do you secure your things when you cop a squat or get food to eat. Or a dog craps next to your tent?
You take your tent with you.
Yep nothing worst than noisy neighbors. Annoying and nerve racking. Silence is golden
It sounds like you rented at Lancelot Court in Salem, NH. LOL
"You will own nothing and be happy" getting closer every day.
Why is anyone that is attempting this along with their families still breathing air
Is that meant to be an attack on socialism?
@@Tater-Skinz😂😂😂😂😂
@@Tater-Skinz Solient green, yum.
explain that
We sold our house to downsize but are renting for a year in the meantime hoping prices go down a little. We absolutely hate renting. There is nothing better than owning your own home in my opinion. I love being able to do whatever I want to MY home.
The same here. I sold my house in March and am renting, hoping the housing costs where I moved to will come down. So far, they haven't, but I am in no hurry, so I am willing to wait it out.
Hey smug homeowner, try not paying your property taxes and you'll really see who owns your home. NO ONE owns their home, the government does!
@@valeriebrown7946I wouldn’t say that they were being smug but yes we have to pay property taxes. Unfortunately we can’t really do anything we want with our home because of the HOA (I hate them and they should be outlawed).
@@valeriebrown7946no one owns their home until it’s paid off. Crazy how people believe they own a home with a mortgage still being paid
Why would prices come down when we have a 25 percent tariff on Canada announced this week by trump? You know our lumber comes from Canada for home building, yes?
I’ve never understood how houses “appreciate” so much when the materials they’re made out of don’t get better they deteriorate. I thought that’s why cars don’t appreciate. 🧐
Riiiight, this is why YOU dont own a 1963 Ferrari 250 GTO $70M. It wasnt 70mill in 63! 🤡💩👉
Location location location
The difference is cars can keep rolling off an assembly line - houses can't.
Some things definately do get better. Look at the construction of showers for instance it's day and night what it used to be.
@ and then make that auto inventory disappear either by exporting or in some farmers field. yeah, that happens 😂
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
@@PatrickLloyd- this is all new to me, where do I find a fiduciary, can you recommend any?
Sophie Lynn Carrabus is the advisr I use and I'm just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
When corporations buy single family units, prices go through the roof!
BLACKSTONE IS SELLING NUMEROUS HOMES/DEVELOPMENTS AT SERIOUS LOSSES IN FLORIDA!!!!!
A solution: the federal government institutes a 2 percent property tax and a 2 percent homestead exemption. the situation with all these empty houses sitting around with prices that are too high will change.
Let me know when they buy them then....
And when buildong codes restrict our ability to build more houses because some boomer doesn't want working class people living near them.
Its not like that. Invitation homes, whom I was about to sue until they actually paid what they owed, actually manage more than buy I believe. Managing removes all risk from the corp and their large dominance insures a monopolistic hegemony. They influence prices greatly by both managing and buying. Its really mom and pop corps that are strangling the markets.
We are all one event away from homelessness
Speak for yourself
@Kevin-fn1rn sorry friend but that does include you
Get yourself a nice pension and a set mortgage with a low interest rate. Invest in dividend ETF's and rake in guaranteed returns so that your capital gains/dividends pay for the property taxes and repairs. Never spend more than 30% of your NET income on a mortgage. Violla! Problem solved.
Not me.
robert, have you considered becoming a woman? women can always find a rich daddy somewhere.
I’m not a homeowner, but I discovered your channel maybe a month ago and I am fascinated by it. I really appreciate the information that you provide.
Okay listen to this guy and never buy a house ever. He pisses on every issue there is. I just depends on your personal situation financially. Research and common sense goes a long way.
@@surfboard396 I retired at 51 and I like him..😁😁😁
@@jimshoe402 Wow! I retired early also. You beat me though. My house n condo that gives me additional monthly income are paid off. In addition to my work I flipped houses and condos over the past twenty plus years. Not touching social security yet either. Retired debt free. He gives people no hope for ever owning a home and I disagree. He gives people no hope about anything. Congratulations on your success and retirement. Respect.
@@surfboard396 It's true Michael B tends to focus on negatives. But he's pretty well-informed - smarter than the average real estate agent, for sure - and it's always fun to see him strolling around nice neighbourhoods in the sunshine, right?
I retired "in place" here in the Great Lakes Region...love it. Love the snow & 4 seasons.
Never saw the attraction of Florida.
Oh, I retired 20 years ago. At 80, my "hut" is long ago paid for.
Except for taxes
@tonyk8369 pretty cheap up there. Probably less than Fla now. Definitely less crime than Fla! Homeowners&car ins way less😊
Which are a fraction of a fraction of rent.
These prices are delusional. The only thing that makes sense to me here is that the owners are using "unrented" status as a either a tax loss write off or as a mechanism for money laundering.
If a house is taxed at the purchase price +2% per year the tax bill isn't that much. Outside of FL and CA insurance is cheap by shopping around. If there is no note on the home, and the price inflated 25% in the past 3 years you have alot of tax bills and lots of insurance payments that can be put in to support a 25k gain on each 100k of property. A lot of owners are holding out for 10% more return that might happen this decade or may not. The problem with these videos is the prices are insane, the tax bills are insane, the monthly HOA costs are insane, before even talking insurance.
Nah, Miami is an international market. 23% of the sales volume in Miami are foreign buyers. The average for the USA is 2% of sales volume being foreign buyers. Consider you were a very wealthy business owner in Latin America (specifically Venezuela or Argentina). You don't want to keep your wealth in those currencies, you want to put your wealth somewhere safe where it will be protected from inflation and from Latin Ameircan governments... what do you do to protect yourself? MIAMI REAL ESTATE
You take your money in Argentina out and buy a $7 million chunk of newly built real estate in Miami. For a normal working class American, it doesn't make any sense to buy a super expensive piece of real estate in Miami, but for anyone with a concentration of wealth in Latin America... expensive Miami real estate is their best option to protect their money.
@@tropicaljays Ah, this is why the US should pass a law that some countries have figured out to protect their citizens: you should have to be a permanent resident of the United States to buy property in the United States.
@@7thlady if they did that, there would have been no boom like this. It is immigrants who are buying at higher prices. They are bringing down payments from their countries by selling some assets there. 2% interest rate made 1 million loan for 150000 income possible. at 6%, they would have 500000 house only. I hope they all locked the rates for 30 years. Else, many homes will be coming into market as we reach 2025.
Rental property loss of income due to vacancy cannot be deducted. Only the costs are deductible, many are only depreciated over 27 years.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $$275k to $850K...
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
One of the reasons that price of the houses are high is because of investors are buying single family homes as if Stock Market is not enough for their greed , there should be a law to prevent investors from purchasing homes so that owner occupiers must have the priority to own it .
Owner occupiers do have priority, in many cases.
Houses are being built in our neighborhood for renting. Right next door to my 25 year old House a new one is going up and it wont be for sale, its just a rental. I also happen to live in an HOA and they allow for it.
I actually think it's the greatest generation and baby boomers dying off and their children are squandering all that wealth they just inherited. They act like lotto winners. It's like poor old dad just left me 500k, Instead of buying that 300k home lets buy a 400k home and 100k truck. It's the easy come easy go attitude.
@@MultiAnne36 25 years old (1999) isnt an old neighborhood in many areas where this matters. You moved into an undeveloped tract neighborhood with an HOA, one that didn't fill or establish, so expect newer trends such as rental homes. Be glad you're still growing.
Don't know if I agree, but I like the perspective. It's definitely true for some people.@@frankrusso2093
We paid our house off. It's like a giant weight being lifted off our shoulders. Sure we have to pay taxes and insurance, but its nothing compared to renting.
My wife and I feel the same way
Bless you child , that must be a nice feeling
Sold mine, bought a slip and a boat. My biggest bill for HOA, electric, Water cable and wifi was $240. My insurance including contents was $600. I don't work. 60 years old.
Don't have to pay insurance anymore.
depends where you are renting vs the money you have to spend on upkeep to your house and all the bills you pay...in my apt i have no water, garbage bills and my electric bill is only fifty bucks a month...pretty cheap eh?
A house isn't the best investment, considering the state of the economy right now. After selling my Boca Grande house, I want to put $200K into stocks because they can still increase in value during difficult times. Do you have any great ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Melissa Terri Swayne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
20k to go on my house at 3% interest, I’m staying put for a while. Live within your means and don’t buy stupid things
7159 Well stated !
You should celebrate by door dashing a bottle of champagne and Uber eats an order of chicken nuggets and a Starbucks!
Oh and put all of that on a credit card!
In all seriousness though, congratulations! 🎉 we are at 4% but live in a big house needing to downsize.
or just make more money
Can't just "make more", I'm not the fed reserve.
Trade skills as it was before and on into the 20th century, was practice by more than half the population, until lured into cities /factories with the promise of pensions 'The American Dream', no longer extolled.
Don't buy a house, buy rental property it will pay for it's self, duplex multiple units, he'll buy a large lot based on what the county assessor 10 to 30 year estimate based on planed growth.
Prefab homes on a lot, 2 & 3 bedrooms offered as courtyard Apts. The wife would love a nice yard fir children to be safe in, especially if you owner stay/ rent others and leave for next generations.
It's doable, you just have to be willing and able to endure for a time.
The best home in my opinion is a small comfortable home on acreage with a commanding view or waterfront away from people. Small is easy to take care of and affordable. It gives you the freedom to travel and enjoy life. A small home is easy and very inexpensive to build if you decide to DIY.
Yea, great if you are young and can take care of the property.
Property isn’t all that cheap either. Then think of what it costs for excavating the property for building prep. Bringing in a drive way, well, septic, cost of materials and labor etc. It would cost me more to downsize then it would to stay. Although I love the country the best.
@@FloridaGirl- I do all of the labor myself which is the most expensive part of a home build. I'm a DIYer. I've built 12 homes that way.
Small modular homes with solar panels and EV chargers may be a solution.
Everyone wants this and it won't happen.
With the economy still pretty hot and inflation sticky, U.S. stocks ended Friday’s session in the red with all three major averages notching weekly losses as inflation and global crises intensifies.The Dow Jones Industrial average dropped 1.24%,The S&P 500 shed 1.46%, and the Nasdaq Composite declined 1.62%. Shares are extending a downtrend. I have over $320k in stocks. Currently, my portfolio is down by 15%. Wondering if there are any short term opportunities I can invest in.
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Her name is DIANA CASTEEL LYNCH. I can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Hit 240k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in September 2024..
I would really love to know how much work you did put in to get to this stage
I will be forever thankful to you, you changed my life and I will continue to speak on your behalf for the world to hear that you saved me from huge financial debt with just a little trade, thank you Jihan Wu you're such a life saver
As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Mr Jihan Wu is also my invest analyst, he has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my investment decisions align with market dynamics for optimal returns.
Jihan Wu Services has really set the standard for others to follow, we love him here in Canada 🇨🇦 as he has been really helping in changing a lots of life's
His guidance allowed me to restructure my retirement plan, resulting in an estimated $700,000 more by the time I retire.
Those new houses don't look like homes; they look like containers; cleverly placed so the owner can enjoy view of others' home while living in a box.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You’re absolutely right! With guidance from an investment coach, I was able to diversify my 450K portfolio across different markets and grow it to over 830K in net profit through high dividend stocks, ETFs, and bonds..
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Certainly, there are a handful of experts in the field.
I've experimented with a few over the past years, but I've stuck with Jennafer Beaver Turner for about five years now, and her performance has been consistently impressive. She's quite known in her field, look-her up.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
I bought my first house at age 21. Forty years later, I haven't regretted it for one second. I paid rent for one month. Even at a young age, rent felt like flushing money down the toilet.
I agree. The prices always go up eventually. Look at the Great Recession from 2008. Would you be better renting or buying even if you bought in 2007? Rent gets you nothing.
You didn't buy in 08 😂 it's good you didn't regret it.
@charlesjones5900 you'd be underwater and homeless 😅
what year and by urself? carry and debt ratios need u making 150k
Key phrase: : " 40 years later". Get a clue. Listen to what he is saying.
We WANT a video on renting versus buying!!! We are on our 60s and tired of upkeep
Renting has its pros for sure. No maintenance costs and being able to move when you want/need to is a huge plus. Definitely has its cons, noisy neighbors, pot smoking neighbors, pet owners not cleaning up after their dogs, non-residents having loud parties at the pool etc. Rent goes up with every lease renewal.
All these cons u mention are just as likely when owning. Ex loud neighbors, fireworks, the neighbors kid who owns a hot rod, lawn mowers at all hours. It’s harder to move away when u r an owner.
So what would your net be if you rented your property out with a property management company? If you make money that can either pay all the rent on your new rental, or offset it at minimum. Win win. Free house. Free apartment (or discounted).
@@noreenn6976 I don't get this. I live in an apartment that I own. Some of my neighbours rent, some own. Are you saying that buying my place somehow stopped my neighbours smoking pot and making noise, etc.?
In fact my neighbours are fine, mainly, sometimes the students on the fifth floor can be a little careless, but generally everyone is polite, well-behaved, take out the trash on the right day, refrain from puking in the lifts and so on.
All this has nothing to do with whether they own their homes or not.
Thank you for this Michael. I am a renter and people assume I must be poor. Far from it. Do what works for you. I love the freedom and I love my apartment. Someday I may buy again. That day is not today. I have owned a couple houses over my life. It IS expensive to maintain a house. Not to mention it requires a lot of your TIME, which has more value as you get older.
Not sure about the freedom of a renter. If you want to move before the lease ends you got an expensive slice of freedom.
At this point I hope to by a home during my last 15 years of life expectancy and hope I can have a good life insurance policy and trust for my kids to pay off the home and leave them something…. Hopefully… we all just want ourselves and our families to be okay and this greed is just hurtful to all of us. Blessings and success to all❤️
No one born in America is poor. Ignorant. Yes. No one reads anymore. Or reallyy takes responsibility for themselves they get someone to do it for them.
I'll tell you why it's scary to be a renter: Even in states with decent renter protections like CA, no matter how long you've lived in a home and integrated into your community etc, your landlord can tell you that you have 2 months to get out, and they can do that even when there is a housing crisis and rental rates are sky high. Maybe you'll get thrown out into a market where rents are 1.5-2x what you pay now -- that happened in the past couple of years. I've seen that happen to numerous older people when we used to live in San Diego, and they ended up having to move hundreds of miles and inland, away from everything they ever knew. Have a good landlord? Hope they never pass away, experience life changes, need to move away and sell, etc. Hope the market doesn't go up too much and they want to cash out. You never know. None of it is in your control, and that's the game you play. It's easier to play until you have a family. Also, when you get old if you own your home at least you have an asset you can sell and become a renter with something in the bank if you really need to. If you get old and you're a renter you might have much less cushion, vs. someone with similar liquidity/income.
Exactly this. I was a CA renter for 18 years. I finally put together enough money for a down payment on a home and bought one this month. My mortgage is almost double what I’m paying now for rent, but to me it’s worth the extra cost because I can retire in this home with peace of mind, and not depend on a volatile landlord.
Exactly, and if the mortgage is a bit too high, rent out a room.
Replace "landlord" with "bank"
Risk. Most understand it. Except RUclips calculators ...
Well...yes, but if you plan to stick with ownership, you can eventually pay off the bank. At least you could until a few years ago, now, yes, you may be right. Just be ready to jump in if rates ever get down to around 4% or less again. When I came to America in 1981, we bought a house at about 15% and lost it within a year - just couldn't afford it. But things changed and in 2000 we got our house for 3.5% and paid it off 20 years later. These things tend to be cyclical - don't give up.@@NeveauRock
Back in 1998 I bought 9 acres in the back of San Diego for 80k. I went to Home Depot every week buying what I needed to build my home once I had the slab poured. I built a 2850 sf home for about 60k in materials. I sold the place in 2006 for 950k.
Good for you! Excellent skills to have. I knew a guy who built his own home and only had a few little pieces of wood leftover. Great planning.
I can't imagine what it's worth today....millions im sure
No house in the 4th world California can cost over $100k.
yeah i remember here in LA county in the valley suburbs in 1998 u could still buy a 3 bedroom house with a swimming pool for 160 k .
My grandparents built their house that way,then their brothers, who'd helped them build it, got the same help from them in building their own houses. Back in the 1920's FL.
Houses are money pits. Always something hot water heater, HVAC, and a new roof will cost thousands.
Now in Florida the taxes and insurance are crazy. Even if no mortgage the monthly taxes and insurance are insane. Yes it’s nice to own your own home but Florida is insane.
You must be buying big crappy homes and didn't plan for home ownership.
If I had to change my HVAC,water heater,and roof tomorrow it would cost around $40k. I have the cash.
My $260k condo in Oklahoma is paid off and I have over 4 million net worth.
Just paid my $1650/yr. property tax.
Savings,investments,401k,IRAs,annuity,etc..
Have around $600k cash currently earning between 2.6% and 5.2% in HYSA,credit union savings,and laddered CDs.
Also a $250k emergency fund that's grows and never been used.
No issues.
Also a condo in Florida with no issues at all. Too new to have any.
My parents bought a house in 1997 for $300k and now it’s worth $3 million. What a money pit 😂. I bought a house in 2014 for $400, now it’s worth $1.1m. What a money pit. Upgrading the furnace and water heater for $8k total was such a waste 😂😂😂😂😂
My heater just broke today… yeah it’s not cheap
@@itshadoukensell it and buy another one with the money. See...your newfound wealth was just an illusion. You are basically even minus home upkeep expenses and taxes.😂😂😂😂😂
try California, or here in Washington state. It's crazy
Just got a notice of non renewal for my home insurance. Nationwide is saying my agent no longer has a contract. Already found some insurance companies cheaper than what I was paying.
Your house is not made out of wine, it doesn't really appreciate in value. What you are seeing is dollar devaluation.
Nobody is stopping you from renting.
You go ahead & rent & I will stay in my mortgage free house.
@@jackwilson3121You do that, Boomer.
its not the house itself that holds most of the value , its the LAND its on and the location and all the water and power and sewage system connected to the land that gives most homes their value . if u build a really nice house on land in the middle of nowhere with no water and power and sewage system going to that piece of land then the house will not be worth anything .
No, houses have increased over the last 30 years well above the inflation rate. If you bought in a place that becomes more attractive to live in as time goes by, then more people want to move there and the amount others will pay to buy your house increases faster than inflation. Houses are worth more than in 1985, if you adjust for inflation. There are inflation calculators on the internet and you can plug in different values in different years to see the difference.
No doubt a 50 basis point rate cut is in order, inflation is a killer for the middle and lower class. Monetary policy decisions should prioritize economic stability for the working class, not cater to wall street’s big boys and politics.
My concern is where we will begin to see the effect of these cuts, is housing going to follow suit? I missed out on my dream home during the pandemic, I am now all eyes and ears for a further decline in mortgage rates.
That will be in 2025, the mortgage market already anticipated this as early as May.
Further decline? This is the reason I had wanted to refinance in the 1st quarter according to our budget but my spouse likes the space and the pool. If I go ahead with the plan, I will have over 200k to put in a HYSA as I had initially intended, seeing stocks are very volatile these days and the bond market (10Y) is pricing in the effect of rate cuts by ticking upwards, is it a good time for an average joe to get into the financial markets?
Consider consulting a financial advisor to protect your retirement savings from inflation. I personally saw my portfolio grow from $750,000 to $1.2 million in 3 years, saving $23,000 in taxes and earning $45,000 in dividends, despite 2.5% annual inflation. A financial advisor can help you rebalance your portfolio, optimize retirement income, and develop a tax-efficient strategy to safeguard your future.
Who's your financial advisor? how do I get in touch ?
The problem is that in order to have "permanent roof" with amenities like electricity, gas and water, either the tenant or the owner must somehow pay insurance and property taxes. As a result, a lot of people live in tents, at least in California, where I presently dwell. Not a single mortgage, tax, rent, or insurance. It amazes me how many folks I meet who tell me they live in their cars. This place is insane!
It's becoming more and more insane by the day. Mortgage rates have been rising steadily (already over 7%). I often wonder if I should put my extra money into the stock market and wait for a housing crash, or if I should just buy a house regardless.
If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets. It's better to hire a skilled financial planner especially if you're not one yourself. I hired one after my retirement pension took a hit in April due to the crash.
Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?
I've stuck with the popularly ‘’Stacy Lynn Staples” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
thank you for putting this out, it has rekindled the fire to my goal... was able to spot Stacy after inputting her full name on the web, she seems highly professional with over a decades of experience.
Florida will be full of California rich who are moving here. Our residents are being priced out. How unfair when CA homes are so expensive and bring their money here.
We sold our house two years ago. FREEDOM! That money can be used elsewhere.
I don't know about that. Now you are paying someone rent that will be going up every year. I would rather be a home owner.
@@valsomeone2180the best choice is to buy pay off and own a home outweighs high rent by far, money in the bank not the landlord....
@@valsomeone2180 Invest all your money in dividend stocks and you will mostly keep up with rent increases. Obviously, it depends how much you have. In US, I would say you need at least $2M to be on the safe side.
@@Scion311 but is less than 20,000 stupid dollars every year or more for rent, don't you get it??
We paid our house off last year. We now only pay $300 per month for taxes and insurance. Yes, it will increase year by year, but so will eveeyones rent. I like my margin between my cost and what rent would be.
I'm from the Nordic countries and I simply love being a lifetime renter. The once unionized - but still non-profit - company who owns my block of flats have nice janitors who fix my radiators and plumbing etc. I have a free launderette too 🙂The house prices and renting prices Michael mentions are insane!
I've owned 2 homes as a single woman and honestly, it was a pain in the ass and SO much more expensive. Glad you pointed it out that you never really own anything. Either the bank or the city does. It's such a bummer.
Same here… having owned more than 2 😅. It’s a burden. I hate ball and chains and the never ending repairs and worrying.
Yes you own your house and you can change things inside it etc. Renters can't do that and can be asked to move out any year. You have so much more freedom when you own. You don't worry about your damage deposit. You learn how to do the easy repairs.
I have never rented but from what I hear, it is not that great.
@@jeffguarino2097 renting isn’t all bad. It just depends on where you are and who you rent from. I’ve rented and owned and just say that while I enjoy the freedom of renting, I also enjoy not being responsible for everything that happens with the home. It could get stressful. I do eventually want to own again one day but until then, I’ll rent, invest and save my money.
Boy, I was not prepared for the rising hidden costs like homeowners insurance, taxes other escrow expenses. Water, sewer, trash. Electricity. Inflation in general. My income is spent keeping up with all the regular expenses like food and healthcare, that there’s nothing left for home maintenance, let alone repairs. Unfortunately, in my city, rents are higher than my mortgage, so I thought buying would guarantee a roof over my head. Realizing that I could lose my home is stressful. My advice is, no matter whether you buy or rent, Save! Save! Save!
Good piece of advice! I’d like to add, also stay under budget! While we may not like to pay for something we don’t WANT sometimes paying for what’s affordable is what we NEED.
Get a roommate to offset costs
If you buy a small house (not in Florida), everything is cheaper. My house is 950 sq ft. It works for me.
I worry for folks in the south. I think that whole area becomes uninhabitable in no more than 10 years due to multiple cat 3 or bigger hurricanes coming through every year.
@@bpb5541 Yeah that would be historically unprecedented and a non- prediction by any climate expert.
@ I sure do hope so !!!
And what about families?
Weather warfare so not just south . Worldwide . Everything happening is done via weather modification. Due Diligence. @@bpb5541
My first mortgage when I was 21, under the Carter administration, was 21.75%. 30 year mortgage. I put a $100 downpayment. I rented out half of the single family house to a single guy. I paid my payment every month plus the same amount towards the principal, plus each tax return and bonus went to the principal. I paid it off in 7 years. 😢
Holy shit, imagine paying a mortgage with the interest rate of a credit card 😳
Mine 1918 house at 21 $38K paid off in 5 years in 1982..Very Hard time as a carpenter BUT did it.Take care TRAVEL..😁😁😁😁
That's how you do it! Pay more on that principal and save tens of thousands on interest. Lots of people aren't disciplined enough to do this, or they're stretched to the dollar when they figure their budget.
Not only credit card rates, but average wage was just $11000 at the time.
Someone paid $6.2M for a banana taped to a wall. Still way too much money in people’s pockets.
Peak insanity. We are very close.
i heard they get a weekly banana shipped to them
More money than brains
I heard that wasn't a banana under the yellow skin ?
Not everyone is in that particular banana boat
I would prefer owning over renting. Renting you are under another person authority. I have seen too many people get kicked out because the owner wants to us the property for something else.
The sad part is with my border collie etc I would have trouble finding a rental. Fortunately own 3 properties.
@williamrogers4917 -- I would be afraid to rent from a homeowner for those very reasons. You never know when the homeowner will want to sell, move a relative in (and give you notice), or even default on his mortgage. Sure, the renter supposedly pays the homeowner's mortgage, but what it the homeowner DOESN'T USE that money to pay the mortgage? I'll stick with a rental community,
The American Dream of homeownership has become The Nightmare on Elm Street. Owning a Home or condo is an Endless Liability.
While Homeowners insurance, real estate taxes, water bills, sewerage bills, maintenance and upkeep costs, trash bills go up each and every year there are No Guarantees and nothing in place to prevent property values from dropping like a rock.
The nightmare you describe is the way its always been, so take your pick, pay your own mortgage or rent and pay your landlord’s mortgage.
I used to rent and now own my home. I can honestly say it is far cheaper to own a home, even with insurance and taxes than it is to rent. Rent constantly goes up and you have no control over it. I now have my home paid for and my insurance and taxes are less than 5,000 a year. Maintenance is minimal because I totally remodeled six years ago and replaced the roof, heat and air, and other expensive items over time. My equity has increased 50% since I purchased the home while including the remodel. I can retire knowing that unless things go really south, I will be able to afford my home until my death. Pick a place that isn't exorbitant to live yet still has a good quality of life.
Where do you live? 😂😂😂😂
The video is about the CURRENT housing market. Since the blowup in home prices after the pandemic, it is much cheaper to rent for the time being and the money you save in rent can be invested in the stock market.
property taxes up BIG - the local govs are flush and they will never reduce the taxes - the real estate/public education industrial complex is bad for the country
Who are these folks who can afford these houses? Are they in the cartel? Who do they work for? Can you make it make sense?
Politicians maybe?
Im a homeowner. I fix everything myself. In the end, homeowner is better than renter. BUT, theres a big but, this no longer hold true in today's market. If you buy today your cost on housing is much more than renting. What im trying to day is the gravy train is over. If you bought 20+ yrs ago, you are golden. My mortgage cost less than a one bedroom apt. If i buy today for the same house, my mortgage would tripled..
You’re lucky you could do the work yourself. I now have to get five quotes on any project because the ripping off is amazing. Some contractors are literally overcharging by 100% because they don’t want to do the work and they want you to go away, but at the same time they want to see if you’re stupid enough to pay them that money. Since Covid, contractor work is like $150 an hour with a minimum required two hours.
@latsnojokelee6434 There's honest contractors out there who don't always take advantage of HOs. You just gotta find them. I'm extremely grateful (not bragging), that I'm very handy. From automotive, plumbing, AC, electrical, flooring, drywall, to remodeling, I do it all. I haven't hired a contractor or paid a shop to fix my home and my car since God knows when. Except for costco when I need new tires. 😆
If someone cannot afford more than 20% down for a mortgage, then renting might be the best option. However, there are few cases where buying a home for cash does not beat renting.
A bad thing about having a top rising while everyone else is sinking - is that people who rent out for their income have a ceiling on what the working class in their area can afford, while there seems to be no ceiling on home costs.
I have been a renter for 13 years. There is a new roof, new exterior paint, new water heater, new stove, new refrigerator, new furnace, new washer/dryer. I did not have to pay for any of it. I don’t pay property taxes. I am a senior citizen now. No reason to own a home. Landlord helps me out because I take good care of his place and he does not want 3 families living here trashing his home. Go setup for all involved.
That situation can be very difficult to find. Glad you found it and it's working out for you.
Most landlords don't like to invest in rental homes because most people don't take good care of it. They only fix things when it breaks. Lucky you!
Renting is an issue because rent goes up every year or two, whereas income does not for everyone. In my area a one bedroom apartment is 1700$/month or more. In 5 years it will be over 2k$. This is why a mortgage is a good idea if you can get it cheap. USDA loans offer 4.375% interest
property taxes rise and rent goes up accordingly.
They don't rise equally across the board and some cities grandfather your property tax at point of purchase.@@anniee6798
They don’t go up equally across the country. Some places grandfather your property tax rate at time of purchase. You can also always rent out a room.
My spouse and I have owned our home for over 20 years
We do not have home insurance
Our taxes are super low
And all repairs are done by us
We have saved over two hundred thousand dollars,
By owning our 2 bedroom townhome
Our last electric bill was 104.67 cents
Why no insurance? Any weather event, fire etc could wipe you out.
I buy insurance but I minimize and increase the deductible to the max. I do all my own repairs, I fixed my dishwasher, stove, all the plumbing, change toilets and do all the electrical and add new circuits in my house when I want. I fixed my washing machine that had a blown rubber coupler and my dryer had an open element and I just tied it. I changed my gas hot water tank for $200. I fix everything on all my cars and even changed the head gasket on one. I fixed my furnace that had a blown relay on a circuit board and I fixed the computer in my car by flashing the memory chip in the power control module. I bought the electronics to do the flashing from China and got extra computers from the scrap yard to flash. Now youtube shows you how to fix everything. I just fixed a Roland Piano that had some caps that were bad. I refinished my deck last summer and put up an aluminum railing with tinted glass. I built an attached garage ,4 cars, to my house with a room above the garage with a bathroom and kitchenette and all wood came from Home Depot Canada. I picked all the straightest boards instead of having a pallet delivered with crappy wood and then I laid down my stone driveway and cut all the stones myself. About 800 sq feet. I designed everything myself using computer programs to get the best looking facade for the house. I did all the tile work in my house, floors bathrooms, showers , jacuzzi room. This year I plan on putting up some solar panels but make them removable and not connect them to the grid. Put in automatic transfer switches so that when the sun goes down and the battery is depleted , the components in my house will switch seamlessly to the grid. I am only going to power the most energy hungry items, like the fridges and freezers and computers and TV's. They use 90% of the power. Just the A/C in the summer won't be on solar.
I literally have zero repair bills and I also fix all my kids stuff and cars because I am retired now. So I change all the oil in all the cars. Changing the oil is so easy and it costs $35 for synthetic with the filter. You pay $80 at Canadian Tire. I repaired my daughters car, brakes, tie rods and other stuff for $500 and Canadian Tire wanted $2500. So I saved $2000.
@@madelineveggie3931
We do not live in fear
Insurance is too expensive
And the deductible for a named storm is way to much
I checked last year
Our home is 45 years old
6 blocks to the ocean in South Carolina
There are a lot of homes and mobile homes over 50 years old just blocks from the ocean
Yes anything can happen
But we decided years ago to not pay the corrupt insurance companies
Because insurance is an absolute ripoff, and depending on the state, will cost you half as much as a new home would over 30 years.
Hey Micheal welcome back to Miami men. Nothing has change same horrible traffic and people are still horrible drivers. You really didn't miss much
Am I just broke? Why do people use the $million+ houses for examples?
It's easier to fit their agenda for the channel. More clicks. More ad revenue. 😉✌️
There are a multitude of problems with renting. One of them is if you have pets. I have a German Shepherd and 3 cats. If I do a search several hundred houses pop up, and then when I apply the pet filter only a handful show up.
Pets are a luxury not a necessary
@@Kreations4KidsbyKSo are girlfriends. At least the pets are grateful and give better company.
Yes, renting with a pet can be a tough one. Pets are vital to our mental health. When I was a landlord, I always allowed pets but told them that if their dog barked constantly or became a nuisance, I reserved the right to ask them to get rid of the dog, or move.
I’m a lifelong renter. I owned a home and lost it in a hurricane in 1992. Since then I have been able to work and live in multiple countries. Now Florida and my rent is less than $1000 a month. So thankful!
Housing prices are too damn high!
And wages are not going up enough to match!
we dont have a homeless epidemic , we have a lack of affordable housing epidemic .
Too high by what measure? If you can't afford to buy anything, then they're simply outside of your budget. But there are also people who can buy, but in their mind it's unattainable. They hang on to that notion without even doing any research and missing out on opportunities.
The one evil in housing statistics is the median price of houses for a given market and they're usually misleading to individuals. They don't really mean anything to buyers and sellers unless those numbers happen to be in an individual's price range. I don't even know why they're published so prominently. Banks and government entities are the only ones who need to keep track of them. A typical example is my area. The median house price here is ~$300K depending on who you believe. BUT, the actual real price range is from
No they aren’t. If they were, prices would come down.
@@pojack9979 oh how i wish what u just wrote was true , but sadly its not , no sellers or landlords will lower their prices , they just find excuses as to why their high price is justified .
Owning a house is not all that bad as long as you are confortable paying. Long term you are better of owning if you pay it of in 15 years or less. After that no metter the taxes, insurance, and repairs you are paying less than renting. Right now my house hass been paid for 4 years in GA. Since I dont have a mortgage I pay roughly $800 including the saving for any repairs for a 4 bedroom 3 bath house. I have also finished the basement with two bedrooms which I rent for $1500 a month. So pretty much I live for free. I continue to repeat this process to help myself in retirement.
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?
Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.
Renting is horrible. Every time taxes go up, so does your rent. Every year, Renta go up. You have nothing to show for it either. You get to deal with more irresponsible people, the noise, the garbage, the outdoor parking, stolen packages, the smells. No thanks.
In my neighborhood, sellers lower the price if it doesn't sell. In Florida, they raise them? When we bought, our mortgage and escrow were $1,300/month. Rents were about $1,000/month We paid off the mortgage in 12 years so just payments for property taxes, utilities and condo fees. Rents are probably around $2,100 - $2,400 but I don't know of any renters here now.
Some of the pain of being a renter is the annual negotiation. You have to be prepared to find a new place and to move all of your stuff from one place to another. You have the stability of your kids and their friends or you and your neighbors. You can modify your property as an owner where you may not be able to as a renter - and you can't take your investment with you when you move.
That $8 million house wouldn't sell well in my area. There are very few ultramodern designs. It's more traditional New England homes. The exception is condos and apartments. Those modern designs do let in a lot more light and you have more rooms to view things from but it seems like you have less privacy.
I buy day-old bread at my grocery store and make my own sandwiches. If they buy my supermarket chain, then I am in trouble. Maybe. My wife would probably just bake it herself.
The hedge fund playbook is to buy a company, extract the value, load it up with debt, pay themselves fees, and then spin it off into a company that they goes bankrupt and leaves the bondholders with nothing. The latest example of this is the Steward Healthcare bankrupcty.
I lucked out on my place 960 a month with a roommate all utilities included with off street parking. I’m not leaving ever!
I own a small 1925 house with 2.5 acres free and clear… over the last few years they have been building mansions on “estate lots” (2acres) all around me and selling them for 500k to a million each! And these homes aren’t built half as well as my little 100 year old farmhouse! Yet people are buying them…smh
Just Googled it- I live in Dallas Tx and median home price is $414,000. Property tax will be $12-15,000 a yr. Google says $3,000 a yr for insurance. Include your electricity, internet, maintenance= probably $4,000 per month total. We hated renting a 3/2 home with yard maintenance, etc for $2500/month, so we decided to downsize and buy a condo. Yes, less space (less stuff and faster to clean), no garage (but have a carport), second floor (no more packages stolen, no flood scares), and close neighbors (no fence to repair and no barking dogs outside!). There are trade offs in life. We now pay $1200 for everything for our home including taxes, insurance, hoa, utilities. So worth it to give up the dream of a huge house and yard. ❤
I sold my home one and a half years ago. It was paid for, but the cost of maintaining it was a huge burden for me as a widow. I didn’t want to be one of those ladies whose house is falling down around her ears because she can’t maintain it. I am a happy camper renting a one bedroom apartment. Let someone else worry about repairs. Now I have money to travel and enjoy my life instead of freaking out every time a hailstorm hits.
this guy is perpetuating what rich landowners want to hear, just keep on renting baby!!!
Exactly
@robertdiaz937 he is a landlord or was he may of sold it all last year. But Florida is a boom/bust market and this is a Boom time. As a local I wouldn't buy anything post 2020 till the bust probably 2 more years. Honestly maybe 3-4 for a Condo once all the updated code required construction is done and paid for by the last owner and the market is struggling to get out of the Bust/crash of 2026 so prices are still reasonable. Let the other guy lose his shirt I'll come help collect the pieces left behind.
@robertdiaz937 2006 I was working for a carpet cleaning company on the beachside. I remember in 2006 when the investors/landlords started complaining about prices being too high to get the kind of profits they were getting from 2000-2005 it took 2 more years for the crash to really started for everyone else and 2010-2011 was the bottom once everyone ran out of money they already spent their savings and cashed out their retirement benefits.
Wow, I guess you are not really listening to his message
Michael! I’m millennial who is looking for a first home but decided to rent because of your videos. Luckily I was able to find an apartment to rent for $1350! That was a steal! Im from california btw! The rest of my income are going to the stock market.
California Apartment Dweller. I also found a good deal 7 years ago and have not experienced any rent increase during a time span that rents have gone up 30%. I just stay put and save/invest the rest of my money. The cost of buying a home is well into scam territory. Looking forward to the melt down where the bag holders that created this mess get their asses handed to them.
Holy I am in CA. Good job on finding something in $1350🎉
Smart
Track what your property taxes would have been if you bought versus when you do.
OUTSTANDING!🎉
Michael What about quality of life? I dont want to work all day and come home to an apartment complex and have to take my kids to the park to enjoy a yard. Never mind living like a sardine and worried about my security. Ill take homeownership and the costs. I cant write off apartment payments but I can mortgage interest.
Quality of life u say, while u r mowing the lawn I’m fishing
I got mine post 2008 crash when prices were what I'd consider normal again to buy. If I was looking to buy now, I'd just wait it out. Same scenario gonna eventually play out again.
Ditto and I agree.
Same scenario won’t play out again.
Absolutely ridiculous. Always appreciate your common sense approach, Michael. Very validating. What a mess we have gotten ourselves into. What remains to be seen, is how the heck we will get out of this mess.
Actually, no body ever "owns" a home. At 80, I know I can't take it with me. House is "paid off". But soon I give it away. My end is near. I'm happy, as I know it all goes "poof" soon.
No doubt 😊
Respect. See you on the other side!
God bless ✝🕊
I would absolutely watch the pros and cons of renting vs buying! I think that would be a very relevant video today.
Who the heck would pay $13,000 a month rent? Boy what a way to just take your dollars and just light a match to it and burn it. That’s ridiculous.🧐🧐😳🤷♀️
I rent my beach condo for $17,000 per month with a 3 month minimum. That pays for all the HOA fees.
If it’s a 5 bed 4 bath house in miami thats a really good deal. Split with roommates.
@@JoeyJumper42069 rent out each room for 1200
No matter how big your house is you always hang in the kitchen or family room and poop in the same washroom
@@JoeyJumper42069you need about 12-13 roommates for the price to make sense. Otherwise you’re paying almost $3,000 to share a home with someone
Renting as an elder ( 72) female has been a freaking nightmare ; 2020 I was evicted and my banking garnished for 6 weeks ( illegal ; must leave a living wage ) 7/28/20
Arsenic in building ( bricks & water ) of 125 year old property . Was very ill .
Courts are pro landlords , lawyers wanted $5000 up front .
Ask for something fixed and you’re a problem and soon to be outed
@ women
It’s a hate crime by DOJ , especially older women
If we can get the mass deportations going I could see inventory rising much quicker than anticipated.
wow, pretty low blow.
Most undocumented immigrants don’t own houses, they rent apartments.
Wait till landlords raise the apartment rents on whoever is left when half the tenants are forced to leave.
😮
Most illegal immigrants aren’t living in these million dollar homes you’re hoping will be available. They’re living in homes most wouldn’t even consider renting and working jobs (paying taxes they will never have access to) that very few Americans are clammering to take. I think it’s going to be a big disappointment for those expecting deportations to have a positive effect on the economy or housing crisis.
@@lorihamlin3604Grocery store produce prices will RISE with deportations.
We have a lot of recent immigrants in our town and where they live is really sad. Disreputable people chop up their homes into rabbit warrens- Turning one bedroom into three tiny bedrooms- And then rent out each tiny little space to different people. Nothing is up to code, makeshift showers appear in the basement. It’s really awful. And if you do want to buy one of these homes, now you have All sorts of code violations to deal with.
I agree. Renting is a much more strategic option during these conditions
Absolutely would not buy a house. I’d rather house hack a 4 unit multi family and then work my way up to 400 doors and beyond.
Grant was absolutely correct.
Love your channel Bro
Random issues to cover in a renter video: potential that building owner will not be able or willing to pay for upkeep and repairs; jump in rent and need to possibly uproot family from neighborhood and schools; access to private outdoor space; noise. For home owners: option to rent rooms in home to offset costs at a later point (e.g. aging owner); option to learn to do some repairs to offset costs; if district allows - creating a basement apartment for rental - this is done a lot in Canada as we have full basements.
I disagree. You won't see a dime of that rent ever again should you move. If owned you'll get most of it back when you sell.
Depends on individual.
Some are fine with renting.
Many have savings and investments growing from many years ago. Already gotten their money back thousands of times still reinvesting,compounding,etc. working for them and paying their rent with ease.
And this is without including pensions,SS,annuities,401k,etc..
This has also been a great home price and market run since 2009 and a lot of renters I know are debt free millionaires living off dividends and interest.
You are assume the value of your property will just keep increasing and there will be an economy in your community that provides livable wages to a big population of potential home buyers. Look at the Midwest.... Detroit, for example. It doesn't always work out as you described.
@@NeveauRock THIS, its like 2006 on repeat again lmfao FOMO and then BOOM
@NeveauRock incorrect my assumption was its value stayed the same, I would have said the owner would have profited on a sale had I made that assumption.
Amen 🙏
The unrecoverable costs of owning a home(lost growth of the down payment, taxes, insurance)almost always results in home ownership being more expensive then renting. This assumes the renter is a disciplined Investor.
False. Owning a home is always better in the long run. If you bought 4 years ago, your home would have almost doubled in value.
@@TheSuperdodgy
True and almost all of that doubling was a result of inflation.
a lot of people now pay more in monthly mortgage interest alone than rent would be. Then add in home owners insurance and property tax...
Yeah people laughed at me for years saying I was foolish paying my condo off 21 years early in 2008 talking about "good debt" and whatnot.
I think they understand now.
With no mortgage my total household living expenses (including property tax,insurance,HOA,food,etc.) is less than $1400/mo. which is pretty good for an upper middle class area on secure gated private property. Everyone around me are paying $1800 to over $4k a month just for mortgage alone.
Great point about the "carrying costs" of high end real estate. It is considerable and with home prices dropping the offsetting price appreciation isn't there anymore. It is now a lose/lose equation in some areas.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
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 advice but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from ‘’Stacy Lynn Staples’’ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
I asolutely salute grant walking while talking and wihtout heavy breath... ....
There’s no way if someone has paid off their house…is going to be paying more in carrying costs than someone else paying rent….and think about that rent in ten years…it’s going to be so much more than right now 😮
Brilliant discussion
Excellent Analysis
Thank you Sir
I agree!!
I love your work, and I always love listening to you Mike
I think we are down to 4-5 grocery conglomerates. Less competition more money that consumers will be spending.
I agree with you regarding stressing out for paying for these houses it’s ridiculous specially, in Miami. The HOA mafia is never ending and Orlando did a video today about a $21 million assessment on properties particularly apartment properties. Good job brother I know sometimes and critical but I enjoy your videos.
Just 10 years ago where I live - if you were paying 1200 in rent for a place, you knew the mortgage on it was probably 800.
Now people are buying homes that rent for 1500 tops - and their mortgage is 1900. lol
In so cal...rent is 4k, mortgage 8k
@@ColetteSpencer-k5o And let me guess... you're not allowed to pay cash, so you have to pay a transaction fee, to which they get kick backs on?
Isn't it awesome!
It's basically a 2nd sales tax that goes to bankers - when only the government is allowed to tax.
You should do the video on buying vs renting 😊
10 years ago I got divorced. I negotiated to take 100 % of all my pensions and she would take the home, equity, and take over the mortgage . I moved to a rent controlled apartment. After 10 years, I am much better off financially and am 3 years from collecting 100 % of all my pensions. Expenses, such as insurance, taxes, utilities, and repair expenses took a huge toll on her budget.
Many people don’t know how to perform simple repairs like fix a toilet. Some of these handymen charge outrageous prices to replace a fill valve on a toilet.
Just had our HOA dues increases get announced this past week. 27% rise. 25% last year. Started at 235/month in 2020. I’ll be at 575 starting Jan 1st. Dallas townhome.
It smells like 2008 all over again. I’m sitting on the side lines with my bag ready to swoop in.
Me too ❤
Your bag loses more and more value every day you wait, remember that.
This isn’t 2008, not even close lol. You and everyone else have that strategy, which is why the bubble keeps inflating 😆
@ something wicked this way comes. We don't have too much longer to wait.
Love your videos so full of information data. Thank you for sharing.
I could watch your vids for hours!
Large home owner in Chicago for 27 years. Finally got out with very little. I would like to hear/see the video on RENTING. Please, Thank You. 😀
They have finally killed the demand for homeownership through overpricing probably by double. 👏
Or more in some places.
@ what a way to kill freedom.
House --> Rent --> Car --> Tent --> Cardboard Box.
You can always save money by decreasing your home convenience or security.
Look at how much renting an apartment costs versus a cardboard box...
You left out 'van'. Unlike 'car', that's a long-term option that a lot of people are forced to choose in retirement. Nightmare.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Here's our siruation. We have long term rentals and short term rentals. Our primary home in CA allowed us to do with a HELOC back in 2019. Now we are looking to rent in Florida while renting out our CA home for around 2-3K more than our mortgage. Do things like that. We've had friends buy rentals and rent their primary so they can enjoy a cabin in the woods anytime while offsetting costs with short term rental income. So buy rentals at good prices and re t out your primary if it's cheaper to do that than buy. CA is that way right now. To buy my home is 10K month , but you can't it for 6k or less.
Well Miami you know there are better places to buy financially