Mortgage Rates GOING BACK UP! 1 WEEK AFTER FED RATE CUT...
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- Опубликовано: 16 ноя 2024
- Everybody thought that once the Fed started cutting interest rates that interest rates on car loans and mortgages would start dropping even further. That turned out to be absolutely wrong. In fact, the rates are now going up and still continuing to go up, which presents a large problem for the housing market and economy as a whole. Homebuyers are already not returning to the market when rates were going down, this will make the situation worse.
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it doesn't matter if rates are zero..home prices are way too high compared to people's income
and property taxes.
The reason home prices are so high is because rates were too low for too long. Rates need to go up.
Yes they are....
@@TheSuperdodgyinflation is a big part of the high cost....
I agree 100%
My husband and I were fortunate enough to be able to pay off our mortgage early. We were both still working, and took the payment amount that we had been using to pay off our mortgage faster and we put it straight into investments. We were able to retire early because of almost 7 years of putting away what would have been our mortgage payment as well as maxing out our 401K/403B plans. Thankfully we were taught by both of our parents the value of living within our means.
Thank you for your advice. I know it will help people. we are interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.If you're new to investing or don't have much time, it's best to get advice from an expert.
Even with the right strategies and appropriate assets, investment returns can differ among investors. Recognizing the vital role of experience in investment success is crucial. Personally, I understood this significance and sought guidance from a market analyst, significantly growing my account to nearly a million. Strategically withdrawing profits just before the market correction, I'm now seizing buying opportunities once again.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
Carol Vivian Constable is the licensed advisor I use.Just research the name. You'd find necessary details to work with to set up an appointment.
The US government debt is on an exponential free fall and the only way to pay that debt is to keep printing . Hyper inflation is coming , instead of waiting for a housing crash , i think is time investors redirected their focus to the equities market
The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market, prioritize patience and a long-term perspective most importantly consider financial advisory for informed buying and selling decisions.
You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.
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
“Viviana Marisa Coelho” is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
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 fought my property increase this year. I took pics of my 1990s bathroom, area with no porch etc. proved my home isn't worth what they say. 25k was knocked off. Why do we pay tax on unrealized gains why billionaires do not??????
unrealized gains tax on anyone is complete garbage and senseless, and so are these drastic property taxes!
Mine have gone up 25% and i live in a cheap state where real estate prices are not too absurd.
Give me a break! Now, you're going to side with the Federal Government to steal more money from the public. To think that only billionaires own stock is STUPID!
Tax on unrealized gains is a dangerous Marxist idea that would destroy the economy.
It's good you got that but they are still sticking it to you for 40% more than you should be paying and unless something changes it will go up from there even thou you get some relief one year they will either go bankrupt or they get it from the next guy.
Good for you. The City raises your value to get the higher tax to support another annual raise. 😃
The insurance companies are robbing us blind. My homeowners insurance went from a little over $2,000/yr to $8,400/yr
Wow. Do you live on the coast.
What area is that?
Well, it's your fault Linda, 'cause you keep voting Democrat.
Florida has had a Republican majority for the last 20 years . Local government controls home owner insurance and property taxes Not Federal Government. 💙🇺🇸🗳️
@@mgtowcowboy8159. You call that an insult?
Property tax, a tax on unrealized gain ‼️ also known as theft/RACKETEERING.
Exactly
If the government of the people for the people issued it's own currency vs borrowing from the privatized Fed, there would be no income tax.
@@ToddBessingler
Backed by what?
@@kilnmaster thats why i like Harris' unrealized tax plan. If the average person needs to pay unrealized gains taxes, then bill gates should have to do it too
@@grimaffiliations3671 bill gates being one of the biggest donors to the DNC wouldnt be paying those "taxes". None of those billionaires would. How many times have we heard fair share and the little guy only suffers more? The costs are just passed down to us anyway.
The belief that the Federal Reserve would stop raising interest rates was the driving force behind the entire economic chaos. What should we do now that we have a situation where interest rates are crashing? At this point, how would you suggest that I safely allocate $300k?
Although the market is currently volatile, aren't the current valuations a result of the Federal Reserve's monetary policy and low interest rates? Therefore, my recommendation is that you consult a financial advisor who can give you entry and exit points for the shares that you are interested in.
Agreed, my portfolio is well-matched for every market season yielding 85% from early last year to date. I and my CFP are working on a 7 figure ballpark goal, tho this could take another year. IMO, financial advisors are the most sought-after professionals after doctors.
How can I participate in this? I aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Vivian Jean Wilhelm is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
In America nobody owns their home. The government owns it.
Watch what happens if you don't pay your property tax. It happened to Happy Gilmore's grandma.
Spot on👌🏽
It happened to Happy as well 2022, the sickness shut down his golf shop
Exactly. A Joke!
Actually we the people are the GRANTOR of our mortgages (which are security INSTRUMENTS). Read your mortgage thoroughly.
We actually gave the banks our credit and they used it to create the money out of think air and loan it back to us at interest. Read Modern Money Mechanics 1990’s
Comme en Belgique
Sounds like a skeptical outlook on things then. With the rate cuts do you think it's best for us who are not conservative investors to focus on bonds or dividend stocks? I want to reallocate my 7-figure portfolio and I preferably want the assets with the best ROI.
Bonds are a safer bet. They offer good stable yields. But dividend stocks could make you a fortune if you know how to go about it. But it's always a good idea to work with a CFA. It streamline your strategy and help profit a lot.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds…At 66, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock crash, Thanks to my CFA
Could you possibly recommend a CFA you've consulted with?
My CFA ’Marisa Michelle Litwinsky’ , 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 greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look her up and send her a message. You've truly motivated me. Thanks.
Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
Rebecca Nassar Dunne is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.
If you want to be a home owner you need to either make a lot of money so you can afford the repairs or be skilled at fixing your own stuff and have friends and family that can help..
I’m closing in on my retirement and I’d like to move from Minnesota 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?
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Can you provide instructions on how to contact your advisor? I'm experiencing erosion of my funds due to inflation and looking for a more profitable investment strategy to make better use of them.
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 ‘’Marisa Michelle Litwinsky’’ for about two years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Never trust lawyers, insurance agents, used car dealers, and politicians
I could add a lot more to that list, starting with our entire financial sector and all Wall Street listed entities majority controlled by institutional finance…which is all of them!
My Mantra after living a long time in this country is trust no one. Honesty and integrity in this country it's almost nowhere to be found . And when you look at someone who is running for president who's a convicted felon a serial rapist and a draft Dodger is it any wonder why there is no civility left in this country. Thanks to January 6th the United States is a third world country AKA Banana Republic. Thanks Donnie
doctors, news reporters, teachers, boy scout leaders....
Ain’t it funny how the more educated people are the crooks
This is bull shit so the cut the rates on my high yield savings but not mortgage rates instead it going up. It’s all a scam I tell you.
The only thing the FED has brainswashed folks into is that they control the short term rates. They do not. They just follow the 2 year yield on a lag. Which is why they are always late... and they certainly don't control the long end either ... and who the hell is going to lend the USA govt money when the more they print and the more they spend the more risk there is of default? They won't do it at 5% but they will do it at 15% or 18% like they did in the 80s. And the last time we went over 5% on the 10 year the market tanked. Wait until it goes up and keeps going up. The bond market is everything and almost no one know anything about it. To learn it is like watching paint dry. I worry about people... millions of people, I don't sleep well anymore.
Yea mortgage rates are tied to that 10 year not the overnight rate
Who owns the banks for the most part? It couldn’t have to do with a country at war..and creating more and more of it could it?
A retired couple, both teachers, bought a house in 1989 for $80k. It is now paid off. It's appraised value today is $900k. If they sell, their capital gain would be $820k. The capital gain tax basis on a primary residence is reduced by $500k so $320k is their net capital gain for tax purposes. Now they must pay US capital gain tax of 25% on $320k which is $80k. So this retired couple cannot afford to sell their house unless they are willing to buy another house that is worth $80k less than the house they now live in. The US tax code used to exempt the entire capital gain on a primary residence but the government changed it to $500k to punish the "rich". Because of inflation, this couple is now "rich".
I'm glad you made this video, I can recall when I was homeless and faced with many things in Life until $75,000 biweekly began rolling in and my Life went from A homeless nobody to a different person with good things to offer!!!!!!❤️
As a beginner, it's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Mrs Mary Joanne Terry. for years and highly recommend her l focus on her. To be honest, I almost didn't buy the idea of letting someone handle growing my finances, but I'm so glad I did.....
@@AnthonyBen-tv1gc TROLL
@@Julievera04 TROLL
@@nicke.3011 Worse. SCAM!
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Stephanie Janis Stiefel. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, I was able to scale this quickly to $150,000. If I can do this in a year, anyone can.
I know this FA, Stephanie Janis Stiefel
but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since l watched her interview on WSJ last month
I went from no money to Invest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Stephanie Janis Stiefel. I am at $128k right now and LOVING that you have to bring this up here
@@MhadzVaiWell her name is 'Stephanie Janis Stiefel'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Same here, I got to know about Stephanie Janis Stiefel on here in 2020.
Since then l've paid off 160,000 USD of debt. Now I'm working on building an emergency fund. I didn't even have a savings account three years ago.
Great share! Out of curiosity, I searched Stephanie Janis Stiefel online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.
All the housing prices are obscenely high especially in areas they have zero business being at those price points. We've got stupid at legendary levels all around.
I can tell you in my state, I think out of state people thought it was an untapped market not bothering to do 5 mins of a google search. Plains, MT for example, there's nothing there really. Hope you like driving to Costco once a month for a couple hours for the entire trip. I'm seeing homes over there for $700k......LOL What?!?!
Libby, MT is another. It's a superfund site and no one from here will live there. The cancer rates are still too high. I saw some very expensive nice homes over there that will need to find someone from out of state to purchase. They did the same in Billings, MT. That's where all our drug addicts and parolees go. It's the cesspool of the state. It was cheap for a reason. No one is going to pay $700k + to live around that trash. This is all due to no one thinking farther then 5 mins into the future. This is what massive levels of stupidity look like. Every state has been effected by this inbred level of stupidity.
Citiots ruin Montana culture thanks Hollywood
Most of MT is an outlier when it comes to real estate prices, mostly due to how much land is privately owned by ranches (including celebrities and very rich people), set aside for Indian reservations, and controlled by the government.
Et de CUPIDITÉ SURTOUT
My US Government is screwing me out of home - ownership! I'm getting tired of my US Governmenmt manipulating the housing market!
If the Longshoreman strike on the east coast happens next week, the home repair (appliances and supplies) prices are going to go through the roof if you can even get the repairs done.
it's gonna happen ... how long it goes is the question. 3 to 5 billion a day.
The strike does seem like it’s going to happen
The couple's situation as described by Michael: I'm trying to understand why a house they bought NEW a few years ago NEEDS a new shower for $18K and a new water heater...? Doesn't add up...
Nothing this guy talks about adds up. He's a fear mongering hypocrite that bought a Florida condo in 2022 while he was making these exact same vidoes.
I wanna say I heard that DB Horton houses were problematic in less than 6 months.
I'm suspecting that their water has a lot of iron or lime which can shorten the lifespan of water heaters, clog up showers. Especially if they didn't have a water conditioner or it wasn't operating properly.
Because most contractors are hustlers. Additionally, there is the law of entropy. Everything is constantly moving from order to disorder. This means that your home is constantly slowly falling apart. Leave a home Unmaintainenced for 5 years and it will be unlivable even if no one lived in it during that time. A 1500-2000sqft home will cost the owner an average of 5-6k per year in maintenance costs to property maintain. Owning a home is a liability not an asset
@@Curlyblonde Exactly, new shower, water heater and filtration system? It's the water. Must be nasty
If big companies are still closing stores, restaurants and also laying off employees in mass, what makes you think that things are going to change within the next six months?
Logic has entered the chat.
productivity is very high right now, so we're able to grow a lot without employing as many people. Current gdp predictions are at 3.2%
@@grimaffiliations3671those predictions are bad then.
Who could have predicted that overpriced property impacts buying more than minor changes to mortgage interest rates? 😁
Omg. You dont understand economics. Homes are priced higher because money is losing value
@@mattk8810 And people are still buying them!
Don’t worry guys the IRS has endorsed Harris. I’m sure we will all be fine.
And they are carrying pew pews now too! For home 'visits'!
Is this a joke?
Better than endorsing Trump
This isn’t a joke. The Democrats have become the party of censorship, tyranny, oppression and corruption.
@@JhonCarolannope
I don't read through the comments and thought you were exaggerating the push back. I was wrong 😂 idk why people get so twisted about your analysis but believe everything they see on the news. Its bananas 🍌🤣
Free country...open your own channel, bring evidence, & not the cheap criticism
@@israelrivera835 You must have some comprehension issues. I wish you well. ❤️
I’m mad as hell!!! They lied to me
Yes. The media companies make money when you and I spend. Why would they tell the hard truth? Would you? Honestly?
They believe everything they see on Faux News
It’s over man! We’re going into the great tribulation shortly. Stuff is going to start going down with CRAZY things over the next couple months! By next April this is going to be a COMPLETELY different world!
Let's say the interest rate has gone back to where it was a year ago, but prices have gone up over the past year, and insurance and HOA fees...have also increased. We've only just returned to where we were four months ago, and I don't think this will bring new buyers into the market. Even if it does, it will be fake and very short-lived. What we're seeing now is that sellers are becoming very greedy and listing their homes, but still at high prices. Very soon, they will realize that there are no buyers.
Rates were much higher a year ago. The 10 year briefly hit 5% last October and is now down 125 basis points as of today.
Sellers are not “greedy”…they sell to buyers at the highest price possible OR their house just dont sell…is that simple…
Are buyers “cheap” because they want to pay less? No…they just want the lowest price possible..
It’s just business!
@@konnick5262 Well it depends on situations in life if someone has to move for work or university or family or medical issues then people move. It is what it is, they just have to buy in a price that works for them. The real story is to buy what you can afford but in the USA it is very strict, you have to have ALL debt including the house you buy and any credit card debt, everything has to be under 50% of income per month and that also includes Taxes and Insurance, so it is very strict. This makes the US housing market really strong becasue the people that buy homes are held to a very high standard not even in Europe do you see such strong limits on what a person can borrow. This is the outcome of 2008, Americans were punished by very hard limits on borrowing.
im a seller, selling a 2 year old home. (narket called for 400k a few months ago, i missed the boat and dropped to 320k. buyers want it for 250k. i need the momey to buy a SMALLER older house in a small town (my current house is in a great area of the city) and the house in the small town is 320k... if i drop to 250k how will i afford the "new" smaller, older house in a less desirable area.
basically the costs arnt going up at all, the dollar is becoming weaker and what was 250k 3 years ago, requires 370k for the same exact product. so sellers arn't being greedy the dollars are just worth much less. is mcdonalds greedy? it takes twice the $$ for the same food. mcdonalds sucks but thats the reality, cash is trash, get out of fiat garbage money and buy gold.
Your property taxes over there are awful - as an Australian I'm offended on your behalf. My house in Sydney is worth about $2.4 million in local currency, and my council rates (for rubbish collection, road repairs, libraries, community center and courtesy buses for the old folks, etc) are $2100 AUD per year. That's as close as we get to property tax. We don't have HOA here, with VERY rare exceptions, and what's up with your car insurance too? My wife's car ($40K AUD) costs $800 AUD per year for full insurance ($67 per month). I think you're getting ripped off over there, but what do I know? Also, capital gains tax on your primary residence here is zero - nil, nothing. I can't believe you have to pay tax on that - is that all across the US, or state-by-state?
it's the result of decades of "bread and circus". most people are too numb even to realize it, even less act on it.
also: poisonous drugs and food to lower IQ
plus endless wars
And, at the end of it all, you have no inheritance tax.
@@well-blazeredman6187 You are correct - and our government at the end of the day is no more broke than yours. Where does all the money go?
Inheritence tax is a different matter altogether.
Indeed we are mate!!!
You said it Michael. Predicted the outcome to the letter. Proof is in all the previous videos. Bravo 👏🏿
To be fair, mortgage rates dropped from the low 7s to the low 6s over the 2 months leading to the Fed's rate cut. So they had already come down in anticipation of that cut. Moving a few basis points since in either direction should not be a surprise... at all.
Bingo. This guy doesn't even know they were priced in
Yes, there is that.
Thank you to our host for this beautiful outdoor walk-around presentation. You were right in your prediction
Oil companies still get tax breaks and subsidies.
I live where Citigroup and Mastercard get tax breaks! Talk about an upside down world.🙃
Banks create money out of thin air! And they can do it over and over via fractional reserve lending and rehypothecation. When they finally manage to fail anyway, taxpayer dollars bail them out.
And they generate jobs which feed the tax base. The problem isn’t with companies tax rates…it is with out of control government deficit spending. We need fiscal controls in DC. Trump’s proposal to bring on Elon Musk to look for government waste is one of the best things to vote for.
They can't lower the rates ...what don't people understand... The national debt is out of control!
What you mean is that the FED has no control of any rates other than the FED Funds rate (the over night rate that banks charge each other) and the bond market is about to get really pissed off. No one is going to lend the US Govt money when we are on the cusp of insolvency or driving the dollar to zero. But they will lend to the US Govt at high yields say 15 or 18 percent ... just like they did in the 80s. This will make mortgage prices skyrocket and cause the housing market to crash. Many market crashes have come when there are no buyers left.
@@bpb5541 the US doesn't need anyone "lending" it money. It makes the money
High interest rates make servicing the 35 Trillion dollar national debt much more expensive.
The rent is too damn high!
This country will continue to dismember itself
Excellent point. Prop 13 was great for me. Property taxes are around 3K on a 7 figure house. It just can't rise that much.
Great advice and insights.Your walks through neighborhoods is something that ĺets your viewers be informed.
“By 2030 you will own nothing and be happy” - WEF
Exactly! These idiots don’t get it, even though it was spelled out for them
That's ideological corruption, assets are a pool of stuff available for sale, who is competing with you? Is it really Wall Street?? nooo I heat to break it to you but it is not, It's your next door neighbor. It's average American, who is out there buying homes, and competing and raising prices on you, people working in Tech an Finance making $200,000 a year as a working couple are the ones easily raising prices. Money from around the globe is invested in to Wall Street which funds companies like Microsoft and Apple and they hire Americans pay them HUGE salary and their workers buy all the homes. Simple really. How many Microsoft workers own 2+ homes maybe 3+, they list them for rent, or AirBNB or vacation homes for themselves. It's just good old fashioned inequality, Tech/Finance workers make so much more than everyone else, just need to find a way to join them.
2025
The pope’s agenda.
@@JB-ku7kvyes, this Bordenaro character keeps quoting official government sources to his clueless audience and talks about how the Fed says this and that. Sometimes I think he's just here to make money through RUclips which seems to be one of if not his main source of income. I think I've only heard him mention the "you'll own nothing and be happy" saying once. Surely these people have heard of the World Economic Forum. Why don't they just come out and educate their audience? I'll tell you why. Because they'll never risk RUclips censorship on their sources of income. I remember him in one of his videos smirking and shaking his head at the 'silliness' of people who had to risk not paying for car insurance just to put food at the table in these hard economic times. Never forget that your listening to a literal salesman in this guy. Don't let your admiration of him & what he does make you forget that fact.
🙏Florida. Happy that none of our neighbors had EV fire traps during Helene and hurricane season.
Lots of families are going to continue living together, even after the kids are of age to move out. It takes a village!
No way.
@@Dreamer-by4nk Way!
Another no wind, blue sky day in a Michael Bordenaro video.
I noticed that banks had no problem at all lowering the rates that they pay out on savings thougb..
Thank you for defending prop 13. As a younger homeowner who chose to buy a home within my means, I could never buy a home with unpredictable property taxes.
Rate cuts commence in June 2024, taking 6-8 months to complete. A potential crash, if any, might occur by March 2025. The soft landing narrative is gaining traction, making this big recession everyone is calling for less likely. With $1 million from a business sale, I'm seeking profitable investment opportunities for the next 3 years.
The financial market is a reliable choice. Diversify your portfolio with I-bonds, stocks (ETFs, REITs, dividend-paying stocks), and bitcoin. Given your budget, I recommend hiring a fiduciary to ensure you receive professional insights for a fee.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
I'm pleased I found this conversation. If you're comfortable with it, could you share how I can get in touch with the advisor you rely on for your investments?
My CFA NICOLE ANASTASIA PLUMLEE 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..
Im so sorry to say, that you just wont find it. Because the trend down will crash and never ever get back up. America is about to be STRUCK by the Judgement of GOD, like it or not, believe it or not. The day that everyone reading this WILL become a believer - THAT DAY IS just breaths ahead.
The LORD is about to strike washington DC AND the entire Eastcoast AND the entire nation. There will be nowhere to run. Because this is all the heavy hand of GOD. GOD STILL JUDGES SIN. GOD IS STILL HOLY, HOLY, HOLY. JESUS CHOSE TO DIE BECAUSE OF SIN. HE SAVES US FROM HIS WRATH TO COME. HE DIED SO THAT WE MAY RECEIVE THE PERSON OF THE GODHEAD, THE HOLY, HOLY, HOLY SPIRIT SO THAT HE MAY EMPOWER US ALL TO LIVE A HOLY HOLY LIFE. TO BE HOLY AS OUR FATHER IS HOLY. BECAISE WE SHALL BE LIKE HIM.
TRUE FAITH HAS FRUITFUL WORKS.
MAY OUR NAMES BE FOUND NOT ONLY IN THE LAMBS BOOK OF LIFE, BUT ALSO FOUND IN HIS HOLY BOOK OF DEEDS. IN JESUS NAME
On the plus side, a lot of people who escaped the Northeast and relocated to Florida over the past few years, artificially raising the cost of living here and driving rents to almost double in less than two years, I hear a lot of them are running back north and selling cheap after yesterday.
Hope all my Florida brothers and sisters made it through safe yesterday.
Cleaning up and drying out here in Tarpon!
🇺🇸🐊😎🐊🇺🇸
The number of homes for sale in FL before Helene was more than WA, OR, ID, NV and CALIFORNIA COMBINED !!
@@nicke.3011 I wonder if most of those for-sale props will be delisted after Helena. Can't sell a sunken house.
The only way people will buy homes is if they drop prices ALOT because the gig is up…. Property taxes and insurance, maintenance costs…. The general public is aware and is actively boycotting the high prices of homes. I can buy a home now but I refuse. I save 1000+ dollars a month in cash or buy gold, silver or T bills. I live in a studio beneath my means. Why would I buy some big house that’s a money pit knowing that on average 2.6 million older Americans will pass away each year moving forward and many more will need to be placed in care. Schools are closing, daycares, children’s entertainment parks because people aren’t having children. Time and demographics are on my side. Just because masses of people foolishly bought in at these prices doesn’t mean I’m going to pay the price for that. Just look at Detroit, with demographic decline houses will sell for 10k or less 10-15 years down the road. I am having a blast with no responsibilities of home ownership and having the money to buy whatever I want. Time is on my side and I can wait.
Well said. (coming from a millenial home owner who is currently selling). The trend is on your side. Living in a home (even with a low interest rate) isn't all sunshine and rainbows when your property tax, mainteance, and other bills are shooting up too. Better off being mobile and finding bargains in the rental market. The mere fact that the average person has become obsessed with inflation, makes me feel more like a contrarian and believe the economy is in way worse shape, especially the labor market. Very excited to be in cash here soon
False
detroit is making a comeback
a new shower at $18,000 that's crazy
I suspect, the couple in Michael’s example do not know anything about housing, construction, or real estate. They never considered what they were really getting into, because no one had been owners. I see it all the time, people just don’t think outside the box, in housing, they believe what they “see”. Being the daughter of a builder/developer/general contractor, I see every component as the guts of 4 systems that create shelter, with plumbing and electricity in the walls, a foundation and shell. Everything else is “bling”. HGTV is “bling” dished out in 30 minute and 1 hour segments. And then there’s the neighbor factors. There is nothing glitzy at all about homeownership, no matter how expensive of a mansion or shack it is, home ownership is a lot like raising children, only the house is just getting old like taking care of your elderly parents! Imagine living in a 300 or 400 year old structure in Europe! Nostalgic nightmare!😂
@@vickijohnson9367 I agree, they were unfamiliar with how everything works and the contractors saw this also.
@@vickijohnson9367 Neighbors in the boonies can be very big problems.
yeah, that sounds more like an upgrade versus a repair
Sometimes you just can't fight reversion to the mean. Or maybe median. People are spoiled by 10 or 20 years of super low rates and it has disrupted the market.
"The average 30-year mortgage rate in the United States from 1971 to 2024 was 7.72%."
Minimum Mortgage Rate Median Mortgage Rate
1971-1979 7.23% 8.89%
1980-1989 9.03% 12.82%
1990-1999 6.49% 7.88%
2000-2009 4.71% 6.18%
Stagflation is the worse case. It's happening!
It's grinding to a crawl,halt...
Oh, by the way, anybody crying the blues about the cost of insurance, taxes, a loaf of bread, remember...81 million of you voted for this...right?
And the same ones are getting ready to do it again too.
I didn't vote. Neither one seemed worth the trouble. It's a big club and we ain't in it.
8646 Well stated !
Yup thank you, tariffs!!! And border wall that WEEEEE paid for! Remember....... Mexico was going to pay for it, right??? Haaaaa!! WISHFUL THINKING!
If you believe your vote actually decides anything you’re just as much of a fool as them
I live in CA and my property taxes are 2% of what i purchased the home for. 600K home 12k a year in taxes.
In the 50's my late dad worked a modest job, mom was a housewife, and they lived a nice lifestyle including owning a home. Nowadays both I and my partner works and can barely afford to make ends meet. Luckily, I've just received an inheritance of $500,000 and concerned how to use money I didn’t work for. With the increasing mortgage rate, it is advisable I pay mortgage since I’m still working, or do I invest in stocks rather than just staying 100% cash?
You should do a mix of both. Seek the help of a financial advisor and a real estate broker. Use $100k to get yourself a decent rental property, may need a mortgage but keep the cost of the property low, and put the rest into stocks.
Well agreed, investing with the help of an advisor did the trick for me in less than 5 years, retired with couple millions before 55. I worked hard everyday as a teacher for 32 years, and my salary was over 100k annually, enough to get me fully invested.
@@beautifulpeopleonearth bravo! retired in my 40s after inheriting money from a childless relative, traveled overseas and found a girl almost my age, happily married but only issue is how to grow and preserve our wealth... think your advisor can be of help?
Personally, I delegate my excesses to someone of great expertise ''Annette Louise Connors'' preferably you can look up the name on the internet, her qualifications speak for itself.
Annette Louise Connors is the licensed advisor I use. Just research the name. You’d find necessary details to work with and set up an appointment.
It's really sad what's going on. Us common folks always get screwed, we can never get bail outs like enron, bank institutions, auto makers and so.
We get bail-ins where the banks steal your deposits to cover their losses.
Based Michael B. My favorite yapper on RUclips.
I’m glad you pointed out and explained how Prop 13 was something good Calif did to protect people. California also has a lot of worker rights…far more than other states.
Stagflation, congratulation america 🇺🇸! You got stagflation!
Last year, there weren't any homes on sale in my area.
This year, there are tons that have popped up, and just sitting for months, being way overpriced.
Henry Ford ASL0 gave all his employees a $5.00 RAISE...so they could afford...to buy his new cars. 😉
My recollection is that he paid his employees $5 per day, which was HIGH at the time...
@@treesnmoguls globally.
Yes, in some locations, housing prices are dropping. How many people would want to live in those areas, including insurance costs and property taxes? House costs are falling in those areas, not because of the drop in regular pricing adjustments such as job opportunities elsewhere, rising cost of living, schools, or infrastructure. Those areas are subject to significant demographic shifts or environmental costs that can last generations. In some places, new and eventually existing housing will be required by law to have their latest specified environmental net-zero carbon emissions HVAC, water heaters, filters, insulation, cooking, entertainment, pool heating, and refrigeration, raising the cost to incomprehensible levels.
What's happening in China is extremely worse than what we are anticipating. In fact I'm more worried about the effect's of that situation.
Fantastic analysis, brilliant!!
Thank you Sir
Thank you Mike
Annual est. $700 property tax on that Prop 13 CA house for sale @ 1.5M.... paid off, non-escrowed, senior disabled veteran homeowner? .....what other exemptions am I missing, folks? Fill me in, please. Thnx.
That owner has owned that house for 30+ years, is my guess.
Prop13 is based on 1% of ORIGINAL purchase price, plus bonds, and only allowed to increase 2% a year going forwards.
Also a minor 7k value reduction for owner occupied.
This has been a HUGE difference in the ability to stay in your home once it's paid off no matter what happens to your income above a small base cashflow needed.
Not opposite of what I’ve said. Yield is uninverting. When the fed actually cuts the banks have already hedged. It’s common it drifts a little higher after. I expect it to stay here for the next 6-8 months.
People just don’t understand the market and how it works. It’s not that surprising
Inflation is a disaster for everything, relentless....6.98 30 year fixed in New Hampshire,very expensive...
Inflation doesn't bother the greedy billionaires and there are too many of them.
NH property prices are obscene !
No one talks about sweat equity. I bought my project house in 1996 for 88,000. It was a dump. Now with inflation and the house being livable, it is worth 400,000k. That is stupid money for a home built in 1960. But it will never be worth 88,000 again.
88k in 1996 is worth a lot more in 2024 thanks to inflation. Especially real inflation, not the government figures that went off the rails in the 80s and later.
In CA, the base tax is 1% of the purchase price, with increases capped at 2%/yr, except that they can "bank" unassessed increases during down years and tack them on later when values recover. The legislators get around the 1% base tax by getting voters to vote yes on numerous tax and bond measures, which get tacked onto the 1% property base tax. These measures pass because all voters, including those who don't own property, get to vote on them. Renters vote yes because it sounds nice to fund this and that service or project, thinking it won't cost them anything, not realizing it is going to cause their rent to go up. The 1% base tax on my house in CA was $5500, but with the added voter approved bond meaures, my tax was nearly $7K/yr. There is no 2% cap on these tacked on bond taxes, and no homestead exemption. There is an exemption of 7K off of the assessed value for owner occupants, which is nothing. Californians need to vote NO on all tax and bond measures until CA stops wasting their tax dollars. Since there is NO CAP on these bond measure taxes, you can still get taxed out of your house. CA needs to stop the waste. The speed train to nowhere is just one blatent example of the waste in CA.
In my greater SFBA metro zone County the residents have voted DOWN nearly every single spending bond, from schools to infrastructure, for the last 4 years- the singular exception was an initial fire depts bong and the one to expand and include paramedics and rigs vs pay outside contractors tp provide the services.
They also voted OUT the old Sheriff for a dept veteran running with old school LE views- and voted DOWN the attempt to fund more to local govt expansion builds vs renovate what they have.
And this is a Blue bubble area.
But then again we may be one of the last majority Dem Counties without their having total control over the ballot tabulating process....
Thanks, Michael! I enjoy your FUD about EVs. Very entertaining.
The "sad" part about Proposition 13 is that California POLITICIANS fought it every step of the way. It was the PEOPLE of California who placed the proposition
on the ballot. And even today, there are organizations that must constantly watch and push back against POLITICIANS, who continuously try to find ways around
Prop 13... or attempt to eliminate it altogether.
California POLITICIANS see Prop 13 as a barrier to the "gravy train" of obscenely exploding property
taxes and revenues that they enjoy squandering on themselves and all their expensive and pet projects.
My issue with Prop 13 is that is applies to corporations as well. There are a vast number of units in which the tax rate was locked in 20+ years ago. The rents keep going up and up due to lack of new developments.
Thank you for the content
Hope everyone in Florida and the southeast is safe.
I Found a 3 inch piece of roof shingle in my Jupiter, FL yard this morning. NC lost I-40 into a river. Trees down all the way to Indianapolis.
Home prices, insurance, and property taxes going up in places is nuts also!!!
Currency 💵 bubbles 🫧 implosion ! Look 👀 at the Japanese 🇯🇵 Yen 💴, the first G7 currency 💵 to collapse ! Sigh 😮💨
Why didn't they stay in the house they had spent $30,00.00 in repairs on and enjoy their investment? The Renters merry go round is expensive over say 10 years with more chance of moving expenses more than once too. Mostly it's a matter of individual choice and individual budget imo for either of those 2 choices. Renting is not exempt from expense nor from money loss either with deposits factored in.
I am investing $2300 a month. I would not be able to do this if I owned in the state I live in. Renting is drastically cheaper than buying. I live in the Boise Idaho area.
We have something similar here in Oregon. Real estate taxes cannot increase more than 3% each year.
23:30 Government (and private) subsidies on expensive purchases. What could go wrong? 2008
Clear Value Tax said that the interest rates will continue to be cut due to they no other options. The inflation must go up for ultra rich to gain
interest rates here in Oregon have gone down about .5 this month
I you need any financial help . You have NO business buying a house 🏡 .......................................
Sad but true
I bought a gulf front condo ten years ago. The value has more than doubled. I rent it for $10,000 a month.
So glad I moved from Long Island, NY to Southeast Tennessee. I bought my NY home in 2018 for $289k. Sold it in late 2022 for $415k. Took that and my equity from the downpayment and a little more savings and bought a home with cash for $215k. My property tax went from $9,000 to $850. Everything is cheaper here. Gas is like a dollar or more less. Car insurance is less. Electricity is less. Food is less. Now I get to keep my paycheck instead of living paycheck to paycheck.
Until you and your kind from your area mess it up by moving there in mass and voting in what you came from.
You love that this is happening, what a nice man you are
Tons of homes just went on the market in my area.
Everyones trying to cash out.
@@jefflewis4278 Yup!
The time to sell was 2021. They're going to be disappointed.
Where do you live, in general?
I LIVE OUT HERE ON THE OLYMPIC PENINSULA IN WA (PORT ANGELES) STATE AND I AM NOW SEEING FOR THE FIRST TIME IN A WHILE THE PRICE OF HOUSES DROP 10000 TO 50000. IF IT WAS ME I WOULDN'T BE BUYING A HOUSE RIGHT NOW UNLESS YOU HAVE COMPELLING ISSUES.
Who wants to live on a fault line. We moved from Port Angela's because there is only one way to get out of this city.
People stopped owning stuff on the first day they put property tax on us.
Just vote for Harris to get that $25k tax deduction so home prices can increase another $25k🤣🤣🤣
Or vote trump and more tax cuts for rich and tariffs for middle class. National debt went up under donnie not counting covid aftermath. How much money did you send to Tammy Faye?
Harris? Tax Deduction? you are getting highhhhhhhhhhhhhhhhhhhhhh
@@Gufenaugh taxes were cut for everyone. Those at lower ends of income saw a larger percentage cut. Cute talking point that is all refuted by reality, facts and data.
I dislike 25k too but Iit is indeed tax cut and likely be blocked by congress. The sellers who think they will get the adventage will disappoint.
@@FrankS111you’re 100% wrong.
Good inflation report.. good gdp at 3 percent and market at record highs.. how bad can things be
Welcome to Germany! My property tax in Germany was $190 per year for nearly 20 years. Now it’s about $400 per year. My property is worth ~$550,000 US. They don’t price you out of your home there either. 😊
Great video. Some people believe everything is great and they will not listen to the truth .
Gee who didn’t see this coming 🙄
Hi Michael, I love you and your reporting. I live in Southern California, in a 30 yr old home my late husband and I built. I cannot leave the home to children without it being reassessed. Also, if I sell before I die I pay 40% taxes on capital gains. So Im not sure what to do. So i'm staying here until I need to move. JP.
My parents benefited from Prop 13.
Do they vote to approve every bond issue that comes along? Seems like the majority does. Then someone else gets to pay for it. Moral hazard.
@@JohnShalamskas Yes, they take voting very seriously. They vote for proposals that help the average person rather than corporate power. We all pay taxes. Taxes should be used to materially improve lives & not for the super wealthy to enrich themselves.
The tax in Ca is actually 1% statewide plus any local bond issues and special local district assessments. Our area that comes out to about 1.3% Additionally tract homes built after 1983 in many areas have a Mello-Roos or CSD tax, and to get around prop 13 they are based on square footage. New homes in our area have an additional $1.30 per sq foot CSD tax per year… in a market where homes cost a million for a basic tract home. Retirees who bought back in the 70’s when homes were 80k have a vastly different tax bill to their young family next door who had to pay a million dollars.
Yes, politically CA was a vastly different place in 1978…
The mortgage rates are influenced by the 10year treasury yields.
Exactly and the 10 year yield has broken out of a 40 year down trend. And folks have no idea what that means.
What's weird is, we've had the longest yield curve inversion in history, and have had a stealth recession at worst. I chalk it up to massive money printing.
That’s because the bond market thinks Jay Powell is a clown.
Bingo
You all act like Powell has any power. He don't have crap. He follows the 2 year yield but on a lag. That is why they are always late. We really need to blame Congress and Yellen to start. There are more of course but I am too tired trying to give my fellow Americans a short history on how we got here. Hell I can't even get someone to give me the correct answer on how money comes into existance (printing) they all say the FED print is it.... which of course is not only wrong but illegal. And if they can't the very basis of what the whole system is built off of what else have they gotten wrong? Which means we are doomed.
California's FAIR plan does not cover liability as you stated, but it also doesn't cover contents or any other claims other than fire. Nor does it cover any out buildings like sheds etc. including for fire.
So the rate cute will do nothing, how ignorant is this all going to get
Great video I learned two new things. Thank you.❤❤❤❤❤❤❤
A lot of buyers are all cash.
Here in FL you have to be on the deed with the inheritors to get the break on no having to have your taxes re-a valued.
Exactly. Political motivations. Buying votes.