People Are NOT PAYING Their Bills...But It's Fine
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- Опубликовано: 5 сен 2024
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More Americans are having a harder time keeping up with their car, credit-card and mortgage payments compared with a year ago. The share of debt balances that became at least 90 days delinquent in the first quarter of 2023 was 1.08%, up from 0.71% a year earlier, according to a report from the Federal Reserve Bank of New York released Monday.
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The TERRIFYING TRUE Cost of Owning a Home ruclips.net/video/x_Gaxbq72js/видео.html
And you've also gotta love that corporations like Blackstone, buy companies like HPA (Home Partners of America) that have 90ish page lease purchase contractuals... with the "Big 4" RE brokerages... then turn around and 'resell' more than they are buying, by 2023... and are now facing going BANKRUPT! ;-)
And BTW... The same guy(s) behind HPA... were also responsible for the MBS (Mortgage Backed Securities) FRAUD... on Wall Street!
(SEE: "The Big Short" and "Margin Call" movies... for more, on that.)
Maybe because the government has a cabal of lying administrators who will cook the books, ie. LIE, twist results to fit the desired narrative of the in charge government officials who are taking orders from a select few very rich and powerful globalist. You have to go by your own instinct and what you see in your own city and hear from the individual reporters on the ground.
HA HA I just installed a Pool Heater at a BIG house in BOCA on the water.Heater was on order, People weren't even there anymore. Din't answer the phone, Who do you bill???
I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
May I ask which investments are good? I've been looking at a few different ones but want others' opinions as well.
What I think everyone need is a Financial Adviser, who can help you get in and out of any investment at any time and you'd sure be in Profit..
*ROCH DUNGCA-SCHREIBER,* That's whom i work with..
is ROCH DUNGCA-SCHREIBER on youtube? please how do i reach her!
No she's not!... RUclips is a public place; i can't drop her information here but You can just put her name on google and you will be directed to her website and drop her your message.
81 was a bad year. Had a pregnant wife and was laid off every other week and working 3 days on my working weeks. We got thru it and learned to make do or do without. Since then I've had good years and bad years, paycuts and plant closings. I hope young people going thru their first recession will learn from this. We're retired now with modest savings but no debt. I know things are different now, 40 years ago you couldn't borrow money till you proved you didn't need it.
That's why house prices were realistic in 1981. Free money makes us all poorer.
Fun fact. A house bought in 1981 would be sold for half the value in 1996 in Miami
make do or do without, that was before the internet and obama. they just keep spending untill the last card is maxed, and the repo man drives away, thats how the app world does it !!!!!!
😡I remember the 80's, in 81 worked 3 months, even the 90's weren't that great. Had that reality hammered at me year after year. That's why I am retired ok. Don't spend what you don't got!! All in all life's great.🤗🇨🇦
@@jongonegone1262 looks like the "app world" and the U.S. government have a lot in common
Very good comments Michael! I am an 81 year old woman with no debt and significant investments. Not by accident, but by hard work and design! The best way to live a good life.😊
You are so right. We watch what we spend and enjoy our debt free retirement! Saving and planning is the answer.😊😊😊😊😊
I live in Pittsburgh pa. Last winter a house went up for sale, small 2bdr 165k. At 9pm at night in the dark I went to see for literally within an hour many houses I went to see had a realtor and clients there. The realtor was at this house waiting for client at 9pm. I talked to him and he was honest. Told me most of his clients or out of state or corporation investors after reading in Bloombergthat pittsburgh has good affordable homes. Realtor confessed he was super frustrated for his single family buyers...no inventory all being gobbled up by investors.
The moment the fed bailed out banks everything changed. I was really hopeful of my investments this year, but all my plans have been disoriented, I've been studying the market crashes and I realized some investors made millions from the recent 2008 recession and I was wondering if such success rate could be achieved in this present market. Any recommendations?
Cryptocurrency crashed the last couple years, so it should be starting a new run to a new high.
I feel exceptionally lucky I started investing in my early 40s and consistently compounded my income to create more cash flow. I grew to a 7 figure well-diversified portfolio having exposure to different prolific investments mainly stocks, metals, and high yield dividend funds. ever grateful to Trisha Jean Webb my F.A...
@@CliffWarrensmith Did a quick web search, she has a pretty decent bio, I wrote her and I'm waiting on her reply.
Every market is suffering. Stocks are dropping and in early 2024,there will be a good chance to buy stocks for real cheap.
Imagine trying to live with only a 21 inch black and white TV, three channels and a telephone connected by wire to the wall. And ya had to roll the windows up by hand on the car.
You have more time for work then. NOTHING to do but make $$$ been there.😁😁😁
Believe it or not, life was much much better then for most.
A lot of people have large credit card balances. Some who make $55K a year. And some who make $120K a year. People don’t check the price anymore all they do is swipe. From pulling credit reports for mortgages it’s pretty ridiculous how much debt people have that I see and don’t care
Even when the economy was doing great we had an issue with people not paying there bills and getting those handouts.
I'll tell ya one thing, I'm done voting. It doesn't work for US AT ALL! NO ONE DOES A DAMN THING FOR US ANYMORE!!!!!
They just install who they want anyway . So you are 1,000 % correct .. we all know there is only 1 way to stop all this once & for all . & Voting ain't the answer
I'm very proud of you
Optimism without realism isn't optimism at all. It's delusion.
Right On🤗
Aw, love this.
yea lets be optimistic that the republicans and Trump will fix everything if he wins in 2024...NOT.
What I've noticed about Mike's videos is that there's no way I could afford to live in most of the neighborhoods he walks through, except maybe in a tent, but I can afford to live well enough in retirement in Wisconsin.
Mike, I have commented before as I am new to Florida. Just got a bill two weeks ago from Pasco county for basically a road repair tax for over 3500.00 dollars. For a repavement on my street over 2 years ago! I asked them how is this possible, I just moved here in January and the county repaved over 2 years ago! Apparently, it was disclosed to me before signing that the bill was coming due. But, I did not pay attention and to be honest it would not have mattered to me. I just wanted out of California, that bad. I love it here in Florida, but insurance is a scam!
Don't Californicate my Florida! Only joking, welcome to the Sunshine State. That tax bill is insane.
That's FL I don't have stuff like that here.But my Lawyer is a friend so he would Yelled at me..😁😁
I have some purple-haired liberal acquaintances that think every is just rosy.
I don't want a deep recession or people to lose their homes or go through hard times. I just want a fair price on a house.
That’s how you get a fair price on a home. Either people who can’t afford them give them up. Ya win some and lose some, my parents lost theirs during the 08 crash, hey we made it. Or they have to start building a TON more houses.
Maybe now with so many illegal aliens leaving.
Nobody is rational and people are still FOMOing so that’s the only way
There's no way house prices come down u kess we have a major crash. Every single local govt is bloated and wasting money. They get alot of that money from overpriced real estate they can tax more. It's all fkd and gonna burn
Thank the Fed's ZIRP, QE, and general money printing for super high house prices and rents.
The counties and cities love it when the LLC's purchase all these homes so they can rent. The government as you have shown charges them non-homesteaded tax rates and double or triple the taxes. Naturally, these increased taxes and fees are passed on to the renter in the form of higher rents.
Spot on Michael! So scary for working and retired Americans. I feel the worst is yet to come and chaos is inevitable. Be prepared and be vigilant. God bless!
My hope is RE "investors" lose money on every deal they make. They are parasites on the working person.
@@ericvondielingen5972 Unless they get bailed out, which the big boys always do!
Parasites indeed!
Those renting from them are going to suffer too. Dont forget that.
RE Investors also provide a service to people who are many times High risk. Not all RE investors are parasites. That's a Ridiculous Blanket Statement.
@@nicolcacola can't come quick enough
Those people are going to hate it when they garnish their wages, for those student loan past due payments.
Yup and they will just take your entire tax return without even notifying you first. That actually happened to me when I was young and having a hard time keeping up with bills.
Student loans won't go into repayment until after the 2024 election. If they do somehow go into repayment sooner, it will be used as a campaign promise to dangle in front of desperate 2024 voters.
Michael your advice is very cogent. Being 70 yrs old I have lived through several down turns in the real estate and stock markets. Almost losing everything a couple of times. People sometimes have to learn lessons the hard way before they will listen to people who have lived through it.
My car insurance from Geico went up again. This is my second increase and no explanation for it. However, I did see in the newspaper that car insurance across the nation is increasing. Wages are not increasing and that is why we are upside down with savings and credit card debt. I bought a pair of eye glasses at Target and my bill was $245 for one pair of glasses and the frames were $119 and the lens brought up the price. I saw a sign at Target that they are hiring at $15 an hour. Target has not raised their wages in a few years.
That introduction sounded like Joe Biden’s Teleprompter script. 🤣
So many job openings because no one wants to work. 🤣
Sales declined 4.6% at Home Depot. As everywhere else, inflation must have caused prices at Home Depot to rise, meaning people bought less but paid more. I wonder if there was no inflation this past year if a sales decline of 8 to 10% would have been reported.
Correct. 4.6% YoY decline is really down 10%-15% if you exclude the price increases.
It is just another cycle. Economic highs and lows happen every 12 to 7 years or so. Don’t over extend yourself in the good times and take advantage of the low prices during the bad times.
Well I just quit my job makn toothpicks outta logs..flowers make me sneeze an prayin hurts my knees..
The auto subprime lenders and some banks are hiring like crazy. What jobs are they? Collections and repossession specialists!
Collections & repo. Fact.
so many luxury autos down payment made with ppp money. payments never could be payed. being repo every day.
In lala land today, starting at 8am through noon, leaf blower city. Now at 4pm..hearing more leaf blowers. This shit drives me crazy.😂😂
Yeah, I hate noise pollution.
Common sense
Read Artur Schopenhauer,
“On Noise.”
Michael that view of the ocean and blue sky at 17:17 is absolutely gorgeous!!
PERFECT great camera 😍😍😍😍 If u want to see stuff Look at Walk Hawaii unreal views no Cost.I've been there 10x so like HOME..ALOHA
To see what made prices go insane look and see what percentage of new homes during this housing boom were actually built by investor types compared to private owners who sub contracted or financed the job themselves. Almost impossible to purchase a lot individually these days only the investors had the PPP money to do this and then raise sale prices.
I wouldn't be surprised if that's how a lot of the houses were purchased. At the end of the collapse, how many houses should we expect to have been fraudulently bought with PPP money? I know people losing their jobs and houses is sad, but I personally hope the people that fraudulently bought housing, lose everything and end up on the streets.
About leading a horse to water, I once read that in Hollywood they have a saying: you can't teach a pig to sing.
Living within a budget is another unavoidable fact that if adhered to, will result in a better future. So many people don't pay any attention to this core principle. Even rich people have to abide by this idea if they don't want to go bankrupt.
It's amazing how many people have their heads stuck in the sand on the state of the economy! You are 💯 percent correct it's in the lag phase right now, but by the end of this year, the looming recession will be causing havoc for many who didn't prepare.
It's already causing havoc. Everyday on LinkedIn (mostly tech workers) there are people posting stories of desperation saying they have run out of unemployment and need a job yesterday. Some have been pregnant on maternity leave and got laid off, some people searching for 3-6 months for a new job and not even getting an interview. The havoc is already here, the mainstream just isn't reporting on it.
I wish everyone an wonderful Weekend
You also. Thank you
Thanks have a great Holiday Weekend!💯💥💥👍
Smart money is waiting to buy on the cheap.
Wages are down year-over-year from the time with inflation in the 1960s a man could buy a house and pay for it on one salary so you need to talk about how wages are actually down
That’s why even as a grad student I don’t think it’s worth it buying a home especially with all the school debt I have and my one credit card and that’s it
No. Pay down your debt and live poor for a few years, get a decent job with your education and move up.
@@DIVISIONINCISION agree
@@DIVISIONINCISION TOTALLY AGREE! Stay focused!
That view of the beach, seaweed and all is beautiful, thank you.
Great content Michael! Raging consumer debt during a period of strong employment has become quite the elephant. We'll keep watching through our fingers.
Employment is not strong that is just a straight up lie. The government jobs data is cherry picked garbage
The employment numbers or false they’ve been proven should be false. We have a record unemployment in Florida buildings all over the place empty people can barely afford to eat, because food is so expensive
Those are my neighbors. The ones who can't afford to water their lawn or mow it.
@@DIVISIONINCISION well I have plenty of neighbors who don’t mow their lawns but on riding lawnmowers now as far as watering your lawn we’re in a drought right now in Florida so water has gone up 10 times the rate it was in 2022 so a lot of us can’t afford to water our lines we’d rather eat
In my new community in San Diego of around 330 residents. 1 of 3 owners are delinquent in their mortgage. My new home is schedule to complete in September 2023. Kinda worried to be with homeowners who can’t pay their bills. Mello Roos and HOA are about $1250 a month. Not including mortgage payment. Wish me luck!
I will be underneath when the ICE breaks!😈😈😈😈😈
Get on the HOA to make sure your money is well spent. I once live in a Gated Community in South Florida. I got on the HOA . We got slammed by a hurricane. The president of the HOA was a New Yorker he presented a cleanup bid for $35,000 from his gardener. I smelled this shyster out in a heartbeat. The meeting was packed and I stood up and presented my of $5,500 from the Mexican gardener who did the common area. What bid should we take? They shouted the Mexican. I publicly humiliated this fool and he had no shame.
That is a ridiculous cost for an HOA ! I hope you get a lot of free amenities. 😢😢😢
Why did you buy in an HOA? Never, I repeat, Never do that. Why would you pay someone to tell you how you can landscape your yard or what you can do to your house?
Good luck!
Can you discuss in an upcoming video why some Florida Insurance companies are cancelling Homeowners policies for people that install Solar Panels on their roof? Thanks!!
You probably spend a few hours a day doing show prep. We always learn something new for your show. By the way, the seaweed has been thick here in the Melbourne/Cocoa Beach area too.
Michael you are spot ON! Home Depot!.!! I have a H.E.L.O.C. and extra money each month! With the rate increases from the Fed. I have no choice but to abandon my Home Depot purchases this year....and pay down my balance..
I think a lot of people retired early due to jab mandates. It's possible that significant numbers of them could unretire, now that jab mandates are gone. This could fix the labor market somewhat and increase supply of everything.
They retried early because the Fed handed nearly every house owner in the USA $200k to $400k in free house equity. They quit and are living off of that.
I will do anything for my country... OK take a vaccination to save American lives.... No F'ing way violation of my rights
If you ever work for the Federal Government, you would not risk retiring early because there's no guarantee of being hired again. Many folks thought they could come back when they wanted. That's not how it works.
PILOTS!!!!! Many didn’t get the jab and were forced to resign.
@@eugenefirebird8938 Free house equity?
Great points! Very few are willing to face bad news in advance. This is the time left to prepare! We must face the truth!
Home improvement is a waste of money and future buyers do not appreciate it. My Mom put a $100,000 in her house in 2006 and when the house sold after she died, the house sold less than what she paid for it plus the $100,000.
It's way over valued a RE told me the seller had $50K in Upgrades Wow.. Worth $5K and I Don't like the custom Dung they Did..RE person😁😁
Hey Michael. You need to wear sunscreen to prevent oxidative stress for example premature aging.
I'm confused: weren't student loans "forgiven" by Biden? at 3.48 you say the payments are going to be resumed for the student loans. Can you explain?
Biden tried but failed pending review by the Supreme Court
@@Corkfish1 Yes but He Got the Votes they got CONNED ..Dumb Bozo Kids living at Home..😁😁😁😁
could you explain it yourself Michael?
I don't see it....what I DO see are folks trying to convince us that we're in trouble. I'D sure be in trouble if I didn't pay my bills.
I have watched your channel for a long time now. I rarely go to the comment section but if people are saying that it is probably because they too have been watching a long time waiting for the effect you speak of daily without seeing any of it. I think people need to understand that Michael is just a guy making youtube videos. This is how he pays his bills. They shouldnt have expectations beyond that. The scenery alone is enough for me to watch. 😂
I finally got a job that paid well last year and I was starting to get aggressive at paying down my credit card debt I accrued while I was underpaid at my previous job - then I got kicked out of my affordable apartment by a flipper and am paying the market rate for my new apartment and I can't make any headway paying down the debt - let alone build a savings. I just can't catch a break! Either the employers won't pay reasonably, or shit heads overprice the apartments.
buy a travel trailer and find a travel trailer park to put it in. You only pay a few hundred for the space and you're able to save a lot of money. I did that in the 90's to save up to buy my place
Pay Cash cut up ur CC's Save yourself..😁😁😁
Are the airbbs driving up the prices and contributing to shortage of homes to buy?
No, it’s not easy to get a job. Been looking for three months in Florida. A lot of these jobs are posted are scams. Very very frustrating putting out 100 resumes a day.
🙏 I pray you find something
@@FloridaGirl- thank you so much for your kindness
@@jeanieologist4456 ❤️ Hang in there Jeanie. Don’t give up!
Not!!! Of course all numbers are propped..
every indicator says epic bust!!
Prepare yourself.. we going down.
yes. be realistic. save cash , dried food, ammo.
4:02 that’s because the unemployment numbers are fudged.
Every day I feel closer to throwing in the towl i had wanted to move to Idaho or Wyoming but good areas in those states are just insanely overpriced for the local job market, my backup plan of Iowa is looking more and more attractive
Yep. I totally get this. I want to move but nothing is affordable.
loving the HD quality video. Amazing, Michael.
I was going to post that too! But since you did. i’ll say, “I agree”. ! So crisp and clear. 👍
As a German living in the U.S. I can tell that Americans ( not just them) like to spent money to keep up with the Jones . Saving money , downsizing isn’t a priority , spending money like there's no tomorrows. The government does the same thing. Everything over the decades grew in size. Houses used to be around 1200 sqft big now, they're twice the size. It's also the consumers behavior at fault. People think they can afford it without risk calculation, things that can break , job loss ect. . The less you have the less to worry about just my two cents.
Exactly, the more stuff you own, the more that can break
As a Minnesotan, that stat about the twin cities breaks my heart, but I see it, the housing market is crazy here. People say the Midwest is fine, but it's not; everything is in a bubble everywhere.
the chance that things are getting worse in the 2nd half of '23 is way higher than other possibilities.
Love your channel!!!We had a great economy under President Trump. It’s unbelievable to me when Biden lovers think our economy is great under Biden. It’s hurting us seniors who are on a fixed income.
Michael, by telling the truth, you are a threat to our democracy!!! 😂😂😂
Micharl why i ask is also the fact my daughter was interested in this house and 2 days later went into pending. We called about 7 days later to see if it was going to fall out of pending and we were told we could put a bid in as the current one that put the first bid in is in the introduction phase. I never heard of this.
Beautiful scenery!
Love cloudy, rainy days. Cannot wait to flee this hot box for 4 seasons❤
yup, me too, it's a horrible microwave.
ORD Fine here my people Do everything can Fly anywhere too.😁😁😁
Nothing to see here folks...Keep borrowing and spending!
yeah and record unemployment but yet we are all still footing the bill for student loan interest why???AND govt still wants to "forgive" a huge chunk, that again, they want the rest of us to pay for!? WTF. HELL NO.
Look at the stock market this week! It is insane why it grows? We did not have any single news positive. Nothing changed
Maybe people are funneling money into the stock market in hopes of gaining more returns so they can combat the interest payments.
I don’t think this recession will be the same. I think US is headed to where Japan was in the 90s. Very little growth with a lot of debt. I don’t see unemployment getting much worse with all the baby boomers retiring.
If you need a job or houseing, Lake Co. has plenty. Down side to many slow drivers.
I’m a Californian (still), SF Bay Area, and there wasn’t one thing that you said that wasn’t right on the mark. Thanks for speaking up!
Mike, you are right ! There is cliff ! Grand canyon cliff.... Government default....No social security check ! No government subsidies ! Government jobs out...big investors like warren b....and others selling out their shares...Wal-Mart Target closing the door! Scared....
Buy ammo.
That Has been the example that our government has been showing people for well over fifty years
New twist. Illegals leaving makes empty rentals.
why would they leave ?
Still waiting in a rv down by the river. Waiting.
The 20-29 yrs old are our 14-19 yrs old; lack of responsibility and should be able to get credit unless for housing, not toys. I bought my 1st rental property (which we lived in one unit) when I was 25. I can't see too many in their 20s doing this today, sadly.
its not lack of responsibility its lack of opportunity you can’t compare the prices of your time vs the prices of now
The older generations are the CEOs and involved in the government. Those are the generation that are making it harder for young people. Young people are barley getting into the government.
I heard a Boomer joke about waiting for a “buyout” to retire at work. Retirement age for the railroad is 60(full benefits and pension) and he had 40 years in pushing 70 years old. I was furloughed a week later at 30 years old. A lot of young people don’t come back and the people who came back aren’t moving up. Older CEOs are making cuts and older people aren’t retiring and allowing younger people to get promoted. The older people talk the most about “lazy” young people. Lots of young people are giving up or are changing the way they think about life.
LMAO THE OPENING XD
Enjoy you common sense approach to life. I live in central Florida in a mobile home located in a park owned by an REIT made up of mobile home and rv parks. I am amazed by what this economy has done to the prices of mobile homes - even the older ones. Percentage wise, I think the increase in these homes is about the same as "sticks & bricks homes. Of course, the monthly rent on lots has risen also. Still, Florida some years ago, passed a law limiting the amount of increase that could be added each year. If you ever run out of content, take a look and a walk through one of these parks away from Miami.
honestly i only have 8 months worth of all my living expenses currently if i were to lose my job tomorrow, thats like without me doing zip and not collecting unemployment
Hi Michael, let me ask you. We have been in Florida for less than a year and live in my mom's townhouse, purchased in 2016 (no mortgage and unoccupied, but it was crappy before we remodeled it). We don't like the area but the plan is to stash as much as possible before buying a home in a better area next year. We are looking at Boca Raton, but the prices there are ridiculous. However, we noticed that sellers in this area are now taking offers that are 15K to 20K less. My wife wants out of this area as soon as possible because the schools are not the best, but my plan is to stash until next year. How do you see the market in an area like Boca next year? What do you think about our situation? Please let me know your thoughts.
I'm impressed with your content and always thinking about what your next content will be.... always a treat.
Don't you love how he gets all heated talking his doom and gloom to the most beautiful serene scenes boats water greenery with dead silence😅
The question is no longer “if” but “when” all this is gonna come crashing down on us.
Micheal B. The economy of scale make the Home Depot probability, of the 1B divided by 2000 Home depot stores. The balance sheet will be different from a profit and loss balance sheet, due to 2000 stores H.D. has. Giving raw numbers is fear Mongering without a reasonable explanation. I.E Florida market crashes by 30% statement, until you look at the numbers and see that property above 1M are at all time highs. And homes below 1M are selling at 11% and gradually lower as the the price of home is less expensive.
Love that sarcasm 🤣🤣🤣🤣keep it coming!
Indeed... JP Se@rs has been using it, for years... and is STILL ON YT... (And, since the Reagan era, we have: Hedonics! And more recently: Sh@dowSt@ts.) It's NOT like ALL of the digitized 'fiat' funny money Ponzi scheme "investments" are minus 100% rigged, today. (Still...) It's ALL... just "coincidental..." Nothing to LEARN, here...just keep your hard earned MONEY in the casinos... and IGNORE what the bank$ters and their lackies are DOING... both in our faces, and behind the scenes! (Good thing their faux 'reality' paradigm "$ystem..." is 100% "backed, by "public CONfidence!?")
Miami has Super Consumers, yes Cubans are amazing consumers that's what makes Miami strong? I know there's a Big Mix of Latinos..I know this, but Cubans are 90% of the Small business owners over there, I know because I grew up around these Wealthy people and they're passing their businesses down through their families!
I love your videos, Michael. Thank you.
That neighborhoods grass is AMAZING
I agree that the cost of living is high. Even for someone with decent income (myself included), it is hard to afford things. You either have to shop around to find the best deals or make some cuts on less spending. The other thing you brought up is the low unemployment rate. I feel like that can go up soon. I can't confirm or predict the future, but companies like Walmart are closing several Chicago land locations, so that means people will be unemployed. Other places has made job cuts on staff, eliminate positions, or just close down completely. The only thing I do wonder, is that during/after the pandemic I have seen people quitting their jobs, change profession, or retire. It is hard to find a dependable employee nowadays. I am not sure if because of people not working, is why we currently have a low unemployment rate. I can go on and on, but that's all I got! Great video Michael!
Tech companies have been doing fairly large layoffs for the last 6-12 months. Many of those people got 3-4 months severance pay so they didn't file for unemployment. 50% of startup companies have less than 12 months of cash to pay their bills. More layoffs are coming over the next 3-6 months as companies try to extend their cash runway. The unemployment numbers are lagging behind reality.
It’s hard to find dependable employers nowadays. Companies didn’t want to pay well until people started quitting in large groups in the previous years.
Not sure if recent delinquencies mean a whole lot. There are always a certain number of financially challenged people who end up in default no matter what condition the economy might be in. Bankruptcies are still low compared with 2009, most people are paying the bills so far.
Exactly. This vid is bullshit as usual.
The example is the Goverment can do anything they want and we suffer.Its our money
No worries just raise the debt ceiling indefinately, keep printing money and put the under water mortgage payers on 50 year mortgages just like auto sales people are doing with car buyers on a 7 year auto loans. Also student loan borrowers can get a forbearance to pay back their loans until 2050. Also credit card borrowers in debt should apply for the "The Consumer Borrower Protection Stimulus Act of 2023" that the Democrats are working on, just get the printing machines ready.......
Don't see it. I DO see rich republicans doomsaying campaign lies... 🪳🪳🪳🪳🪳
@@harmgregory4560 and of course republicans will blame democrates for the debt when the republicans are known to raise the debt considerably when they have a president in office.
these walk and talks on the beach are very nice, please give us more of these
Michael we find your very knowledgeable and watch you videos. I have a question if you can help since you were a realtor. We live in central Florida and in one subdivision many houses are pending. We are wondering if a nefarious situation is going on. These house have been on the market for months and all of a sudden pending. Range from 700,000 and up.
Whya are there hydrants on the sidewalks? 4:09ish
Michael, I worry about children of the families that will be hurt. Having parents divorce, not enough money for food and being uprooted from their neighborhoods and their little friends. There is nothing to be happy about when this is happening to innocent little children.
Irresponsible parents are going to hurt the next generation. Millennial and Zoomer's kids. I fear for them.
Add Biden’s 20 MILLION ILLEGALS to the equation.
You ain’t seen NOTHING yet!!!
Perhaps the cooling housing market is what is driving the appreciation of equities. My portfolio is now almost where it was just before the pandemic, with the past two months being especially rewarding. I don't say this to brag, because I've never done any research on equity investing and have simply stuck whatever I could afford into whatever company or fund seemed good. In other words, I just guess and hope for the best. However, as far as home prices go I suspect that those hoping for a 'collapse' are going to be disappointed and that the most we'll see is a 'correction'. But that's just a guess.....
What I find most enjoyable about Micheal's lecture tours is the incongruity of his constant 'the-sky-is-falling-talk' against the background of all those luxury homes. (Really loving the nice stonework on the driveways!).
if there is no unemployment which means everyone is working what would be the reason of not paying their bills ? it does not make sense. Can you explain better ...Thanks
Beautiful areas! Happy Friday and I hope you and sweet Lisi have a great weekend!
Hey Michael, keeping it real👍🏻…you know it is confusing to see people spending money, on-line in stores and so on, but then hearing all the negative news on the reality of the market. It’s hard to know what to believe. Very confusing.
Many people are buying on credit, which only makes them look wealthy. Those numbers will decrease once their credit caps are reached, and/,of they can't afford their payments.
It doesn’t happen over night. It’s like going down a road. Up ahead is a train coming. First the flashing lights. Warning warning. As you get closer. You see the train crossing gates start to come down, as the bigger lights start flashing. You hear the train blowing a horn. You either…take precautions as you approach the first set of flashing lites. Or…you take a chance, as you approach the second set of flashers. You either:
STOP, LOOK, 👀, and LISTEN.
or…
You slam your crazy butt into the train.
Herein llies *WISDOM*
Don’t be the crazy person slamming into the train.
👍
Prepare for the worst, not hard.😊
All of the delinquency numbers you cited at the beginning of the video are really deceptive. What I mean by that is if a certain category goes up from 1.2% to 1.8% what's the big deal that only 0.6%. Ya, OK but here's the yabut. That 0.6% is a 50% increase - now that is a big deal