sellers who have homes that doubled or tripled price in the last 2-5 years and then "lower" their asking price 5-7% expecting buyers to be "excited" are delusional.
Sorry! Trump isn't going to be able to do anything. This is a supply/demand issue isn't going to be fixed unless we have a recession-something that really affects housing. Or were build, several million homes to level out demand. That will take a decade, at least! Until rates come down where people can basically swap rates, as long as those low rate owners keep a job, can afford and willing to stay in that home, nothing will change.
@@MikeBlatt-z9zHow do you get lower inflation you bring the price of fuel down. Everything drops in price after that which trump made us energy independent when he was in office. Biden did the opposite. I imagine he will do exactly what he did last time and give out federal permits to drill oil, and hand out taxcuts to oil companies. Which will allow oil companies to lower fuel prices.
I disagree with Ken on this one. We’ve been coddling people with not allowing them to lose money since Greenspan enacted the Fed Put. This idea that people can make risky bets and then be bailed out is ridiculous. People have driven up the price of real estate to ridiculous evaluations and the only logical capitalistic solution is for them to lose money.
The millions of illegals Jo and Kamala let into the country are competing for housing causing a housing shortage along with over regulation causing housing prices to overinflate.
I am a money coach for a financial services company. 90% of the clients I meet with have a negative budget! I think Ken and his wife are a little to optimistic about the future outcome. Its going to get really bad. People need to get their head out of the sand and get out of debt, cut expenses and ride out the storm that is coming.
Subsidized by the gov !?!? Why should people who borrow WAYYYYY TOO MUCH be rewarded with free money (inflation). It stops the small guy from being able to compete in a FREE MARKET.
Well that’s the thing we’re not in a free market anymore. We have a centrally planned economy now with the illusion of a free market hope fully Trump changes that
@@MarlonGSR I mean it did make me rich. I spent maybe 10 minutes learning about real estate and my boss would just tell me buy everything you can now wait 5 years sell and buy something bigger and my god did that work. Thankfully i pulled out but holly shit did that work.
@@kawa1755That sounds like you timed it perfectly! If you had those properties prior to 2020 and you sold at the peek of inflation, yeah you made a boatload of money!
If you want to call it a bubble fine. I agree that the bubble may deflate a little, but it won’t bust. We won’t see home prices go back to pre pandemic levels in most markets. It’s just not going to happen! We would need a deep long recession/depression for that to happen and the indicators aren’t showing that. You wouldn’t want that anyway. At that point, you would be worried about your job and keeping it!
@@Aggie4life77 I agree, but we have the Government and the Fed to thank for us not seeing a real correction. The Government needs to keep their noses and hands off of the market and let the chips fall where they need to.
The minute I laid eyes on both of them...I was uncomfortable looking at them. He speaks in a rehearsed fake way and the women cant quit moving or adjusting her hair, looking to her left and the floor...kinda fidgeting. She is uncomfortable just sitting there while he talks, probably because she knows he is not genuine and a person of integrity. She has heard this speech 1000 times before. In general when a person fidgets it is a sign of them not being truthful/honest.
@@andywurst4873 Exactly. This is precisely why tax fraud is on the rise by County Tax Assessors. Some cities and school districts would otherwise go bankrupt. They augment their books by increasing property taxes on home owners. Americans are being hit by greed and corruption from corporations, lobbyists, and our very own Governments. Disgusting🤮
The GSE are already doing this with forebereance plans, and these plans are failing by hundreds of thousands of loans. Some of the borrowers cant even pay a portion of the interest due, and are in their 5-7th plan. They have become renters to the govt. as govt cant afford the equity losses in the financial system. Worked at GSE for 20 yrs. and they are at the govts control.
These two are really dropping in my estimation credibility wise. Just more crony capitalism “ hey we want to help the average guy or gal” routine when really they are essentially lobbying for more government subsidies ( in one way or another) that could greatly increase their businesses long term profitability. A new GFC in the making just in a slow burn form is what we will get.
If the average home buyer age is 40-50, they would be 80-90 by the time the mortgage is paid off. Absolute insanity to put debt on someone for half of their lives, and they would not be able to retire.
So many homes near my area are delusional pricing it 100k higher than what it’s worth and with almost no renovations and needing new roofs and ac. They truly think it’s still the pandemic.
@@Carolyn-vh4nz In a form of increasing property taxes and many people finally selling their home trying to downsize selling their big home because either they are retired with older children or cannot afford higher insurance/energy bills/maintenance BUt they see home prices selling for ridiculous amount the last 2 years so they are still greedy.
At what point do we acknowledge that wealthy investors like Ken McElroy are a huge part of the reason why housing has become so unaffordable? The financialization of real estate with multi billion dollar corporations like BlackRock has created this huge bubble.
I understand that he's not an investor in single family housing, but you don't believe that multi family housing hasn't also been taken over by a few wealthy investors like Ken McElroy and corporations like Black Rock? When Americans some even with full time jobs are homeless or having to live in their vehicles how can you say that rentals are affordable in major cities like N.Y. , S.F. and other cities and towns all over the country? You seriously don't believe there's a serious affordability problem with multi family housing along with single-family housing? Ken says more supply is going to solve it, but maybe the problem is allowing a few people like Ken McElroy and corporations to price control and monopolize the market?
It would be good for those looking for cheap housing but did you know how the entire financial system almost collapsed? Plus now with Dodd Frank Act we the people will be the ones bailing in the banks, not the government.
@CrashBr0 and the fact that you're "ready" means "they" won't let it crash. Just look at the stock market. Michael burry bought billions of dollars in puts when the market hit $4600... now it's $6000. Don't bet against America, play the game and win. 2008 ain't coming back but IF it does, be ready. Expect the best, prepare for the worst
*A lot of people are suffering from putting food on the table yet many are sleepwalking! Facing this recession without investing is actually risky, salaries are easily spent!*
Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. Thanks to Mylah Evander the lady my friend recommended to me.
Homes are being driven up through Property tax fraud. Insurance companies will be bankrupted (with undisclosed weather weapons). Once you cannot obtain insurance, your mortgage goes bye bye. Nevermind the one you try to get. The one you've GOT! 😳
The current housing market is definitely unhealthy - this is the consensus. For the future, no one know but naturally most likely need correction or crash down. There are plenty of vacant or live by lone senior houses that just will come to market in near future.
13 дней назад+11
Why would anyone be surprised that home prices could rise 100% in 3 years when it already happened before between 2003 and 2007?
Amen. She comes across as a 2nd tier drink server, and he comes across as a 3rd rate human being. Together, they are living proof that money and success are 2 different things.
Right?!?! I had to fast forward over 15 minutes of him talking about himself. I really didn't want to know about the dude personally, I wanted the interview Todd was getting. They just looked so stuffy and the wife looked stiff, like they don't know how to connect with people. It was cringe.
I think a major problem is the whole concept of a mortgage backed security. If lenders actually had to hold their loans, these insane mortgages with disgusting price:income ratio would be less likely to be issued. People cannot afford these prices without insane amounts of credit. A large problem is the removal of limits on government backed mortgages. In my area VA mortgages are being issues for two million dollar waterfront properties. No one can compete with that unlimited credit unless you are willing to become a debt slave.
Yeah and even if they did build more supply, don’t these people need jobs as well? driving 1hr plus to get to work isn’t sustainable this ken and his sugar baby’s heads are in the atmosphere. “Let them eat cake” would’ve been more sufficient. I think they need to change the tax code so owning more than a certain number of homes/properties you pay an arm and leg anything else is just banter
@@Ambience88 Exactly, they need to make it cost prohibitive to snap up single family homes and apartment complexes so they can make even more millions and millions of dollars. Doubtful they will ever enact legislation to do that because the US is a true Oligarchy and Plutocracy.
I have seen videos o Melody walking around built or almost built nighborhoods that are NOT on the market. Also known as stealth inventory. I agree with you I think boomers, investors like blackrock and the builders have all sucked up or are hiding inventory to keep prices inflated. I don't think there is an inventory problem in most markets. Some of course. But should we have even a slight pull back say a 25% one in stock and or housing... the wheels could come flying off. Those boomers will bet nervous they are losing money... inventory floods the market. We will see soon enough if my thesis is correct. Within 2 year max.
@@bpb5541 I agree with you. I stopped listening to Ken and Danielle McElroy. I think they’re out of touch and they have convinced themselves that they’re doing something good for the people by providing housing units, when in reality people would rather own. In reality they serve themselves. I love Melody Wright, I recommend people listen to her. She is very knowledgeable and insightful on this subject.
I live in a high end lakefront condo in Chicago and the problems are coming from job losses and people who bought since 2020 and cant rent nor sell as not enough equity.
DFW housing marked is completed screwed.. prices are doubled and triples from 2019 levels. Many people claiming that its due to lot of inbound migration, not only that 90% of the homes owned by Asian community, many of them had and working on more than two jobs and they can throw any price!
With all respect, I do appreciate bringing very knowledgeable and experienced people to talk to, but first 20 min too many personal questions that I don’t need to know (who met who and where, how is your schedule looks like and blah-blah-blah ). Personally, I would prefer much shorter intro
America is for sale... has been since at least the GFC. Ever since then it has just gotten worse. Class inequity and the stealing of the middle classes money by the rich... might end very poorly.
I dissagree. We need interest rates to go up to 7 or 8%, which should drive down the prices over time. When people purchase houses and the interests rates drop, these new homeowners can refinance.
I’m in northern nj and my Nieghbor just went under contract with 200k over asking price! The asking price in my mind was 100-125k over what the house is most likely worth this time in pricing is out of control!
I’ve been in my house for about 20yrs they bought that house 6 yrs ago which is 275k under what they were asking for. It is lake front but over all if I’m being logical about it, it’s all way beyond what reality is for pricing is what I’m saying
I’m a loyal Sachs listener. I couldn’t disagree with a majority of their assessment and outlook. Obviously taped before the election and to assume government intervention is needed is adding further complications. Floating a 40 yr is insane. Assuming the the Fed rate drop has anything to do with mortgage rate is also misleading and frankly inaccurate
@@JohnBarr-ys9zl 💯 agree with you. Floating a 40 year mortgage is insane. This would only enslave average Americans. Hearing Ken suggest this disgusted me, as I envisioned him and other investors/corporations lobbying for this . Unbelievable!!!
There was mention of capitalist system, but I think we are far from it. These large institutional outfits buying homes are doing so with with cheap/almost free money from the Fed. There is a strong desire by governments all around to keep property values high to help with tax extraction.
@@stevenap4594 His first response was “No, I think we have an inventory shortage” 😂 I’m 48 and I’ve never seen so much new construction of cookie cutter houses in my lifetime.
@@DJRS2178 The initial wave of the stock crash could begin next week...but the compooters will likely hold things up til after options expiry next Friday.
12 дней назад
@@SachsRealty How could all of these ex-spurts you have on be so clueless? This clown McElroy had no idea that Blackrock and Blackstone were given a mandate by the U.S. govmint to buy up bank foreclosed homes by the thousands between 2009 and 2015? I guess he has no clue how a self employed individual that made say $50K per year in 2019 and then fudged the numbers so that he could get $20K in PPP Covid money plus an additional $100K in EIDL loans can "obviously" affect the real estate market? That's where the supply went....govmint collusion with corporations and people of means. Clowns like McElroy and Kiyosaki make MUCH more $$$ from selling their wares to wannabees than they ever will practicing what they preach. I heard Kiyosaki owns thousands of properties. Hopefully he gets completely wiped out when the market reprices the advantage he was given.
Do you really expect me to subsidize everyone’s loan that is high risk and expect insurance companies to insure high risk locations at a bargain basement price. I would never thought people in business could be so economically illiterate. I think we are just looking at a bunch of people looking to have their business subsidized.
Rates are determined by bond rate risk. Not the FEDERAL Reserve lowering rates. With debt beyond mathematical reach I see more risk and higher mortgage rates removing buyers from the purchase and causing prices to continue downward.
Parents paid $ 12,000 in 1958 . Sole it for $ 360,000 in 2021 . Now $470,000 on Zillow with the interest rates much higher then it was . Dollar is Collapsing . House is the same . Gold & Silver , food & water , ammo to protect it or to get more if you need it .
12 дней назад
Dollar is collapsing? The dollar is holding a higher level than it was in 2020...and that's after over $9 trillion was injected into the money supply by Trump and Biden. You have no clue what you are talking about. Dollar will only get stronger as literally $trillions come out of assets of all types.
51:00 why not a 90 or 100 year mortgage 😂 don't you people get that the financial system only gets more and more expensive year after year by design...we were disallowed to print our own currency as a government and instead borrow with interest ☠
Interest rates just push up prices. Crash and burn, crash and burn. Prices need to be lowered where the average working person can afford to purchase a home. Greed seems to be the theme here. What happened to humanity’s needs over the greed and investors wallets.
Ken & Danielle are so great because they are so humble and kind. You can tell by the way they talk just how authentic they both are! And that’s impressive since they are worth over $500,000,000
No, assets- liabilities is the formula. And now they want us the tax payer to subsidize their business. That is not humble. I liked these two early on. But now they have turned into part of the problem. Wanting to bury people in debt for ever and hit the taxpayers up for their business growth. Hey where is my subsidy for paying off my mortgage and not spending on an out of control life style. See the problem here.
😂😂😂 totally disagree. That video was hard to watch. They did not sound or feel authentic or genuine or out for anything but promoting themselves. Gross.
Ken is so wrong the GFC with homes it was an affordability crisis, same thing as now. There is plenty of supply. He knows he's caught with his pants down. Banko time Kenny boy!
The difference between then and now is that the affordability crisis was at the homeowner level, this time around it's not. HUGE DIFFERENCE. Especially with low rates on the horizon.
@@archstanton2411 The 10-year topped at 4.48 the day after the election. With pro-American policies back in play, the 10-year will drop from here. It's coming.
In some states, you are not allowed to know who is trying to buy your home. Realtor: You got an offer, x-dollars, no contingencies, no inspections. You in? Seller: Is it an institutional investor? Realtor: I'm not allowed to disclose that information. You in? Sellers ARE NOT going to care who buys their homes as long as they get max price. It's hilarious to think there are actual homesellers with 'bleeding hearts'. Just save up and be patient. There are better things to spend money on other than a house and all the headache that goes with it at this time.
Money just isn’t worth as much 5 years ago. My house was appraised in 2018 at $197,000. In 2022 it was reappraised at $410,000. Now that same model home is selling for $350k. But for those who think home owners like me will sell our house at a 50% from the top are delusional. Why would I sell my home for $205,000 ? Never going to happen I would just rent it out for the $2300 I get from my other rentals
It’s always good to listen to various opinions on this issue - the current state of the housing market. I think lower interest rates and 40-year mortgages are the wrong answers. The only variable that needs to move right now is housing prices. We don’t need government interventions to make currently unaffordable houses seem affordable. We need the market to try to return to normal.
40 years mortgages is effectively turning buyers into renters. Most home owners will never pay off the loan. Want to increase home supply? One step would be prohibit access to single family homes from institutional investors, foreign buyers (green-card holder exempted), while increase taxes on single family homes landlords. Finally provide tax incentives for sellers who sell their home to a family. No construction needed, just the right nudge.
Pandering for views Two paths to wealth... 1. Be smart, work hard, take risks. 2. Be young, attractive, female and get with an older dude has nailed #1. Solid advice.
That’s ridiculous. We should all be buying homes for landlords? Paying their mortgages? We can’t afford our own homes but we can pay for other people’s homes? 🤡
Plain and simple you cannot build a home at the cost per square foot you can buy an existing home for. It’s simple and until building homes is cheaper housing prices aren’t going to change in a way most people think they will. Sun belt will see the biggest change and north east will not drop more than 10 percent.
Zillow is definitely guilty in this bubble, as they are still posting extremely high estimates, often $100K's higher than area comps. Also, the site is very, very slow to update properties leading to thousands of dishonest evaluations.
Ken states that lower rates from the Fed are needed yet later his daughter admits that they must likely will drive up prices... Yeah, that's what consumers need.
Ken has been claiming no bubble for the past three years at least. As a Kiyosaki follower, he's using debt to finance his real estate purchases. Deflation would destroy him. Of course he wants 40 years loans so owners don't default... aka pass the debt onto the lender. Of course he wants subsidies and cheaper finance rates to keep prices up.
Lenders are giving first time homebuyers programs per what they qualify for. Every application has the minimal qualification per borrower. This is how they’re staying in business. Lennar is doing the same too for new builds. Buy downs to reel in the customers thinking they’re getting a good deal. 😅
We need to allow the foreclosures to go through the process and increase inventory. If people cannot work out a repayment plan and refuse to pay a FAIR amount, the house needs to be foreclosed. Also, we cannot have a repayment plan that allows for 40+ years repayment and a portion of the mortgage put on the "backend" because we all know the "backend" at 0% interest will be a request from the owner to be forgiven just like the request for the student loan debt. I can hear it now, "What do you mean I still owe $100K on the house, we paid it off. I had no idea that you put $100K on the backend with 0% interest. You should just forgive the debt. I paid off my home and this is "predatory" lending."
Danielle doesn't think we should focus..... focus focus..... we're not in a shortage we're in a position where big money is putting majority of the people in slavery and indentured servitude. maybe government needs to mandate these large Wall Street companies.... can't charge rent any longer.. everybody gets to living one of their houses for free.
I don't think deflation will happen. But what I do see is the cost and risk to hold an asset (esp a rental house) becomes to exponentially high and people can't hold onto what they have...
Love for y’all to have George Gammon on to pick his macro global financial brain and to get insights from him on what he sees from a reality standpoint from his current home in Columbia. Additionally, I think his disdain for the Federal Reserve matched with your opinions on that cartel would provide entrainment for your audience. Plus he is good friends with Ken McElroy so he should be able to build off what Ken has shared with you in this episode. Just an idea.
I used to like George too. But his Trump hatred rants caused me to unsubscribe, but hard to know if he was just covering to prevent censorship. That is why we must preserve and uphold the US constitution, or what will become of our search for truth in a world full of censors, sneaky shadow banning , deplatforming etc
This is a key point. Generally existing home prices don’t drop lower than new build costs( for a comparable house in excellent condition in desirable area) I don’t hear many people talking about that. So in my very desirable area ( DMV) I don’t think prices can drop unless new build labor and materials and site development cost drop a lot. Property zoned land is limited in my area, and build cost still high, so…
I am obsessed with absorbing all the knowledge that Ken McElroy constantly shares with his audience. As such, I was overjoyed to see him pop up on your channel this morning. I have been following Sachs Reality since the early days and have been constantly impressed how you are able to get so many hugely impressive guests like Ken. Thank you and best wishes for your channel’s continued success. FYI, I own house in the greater Austin area and my homeowners insurance just renewed this month. It jumped $485 a month! Thankfully we can afford it, but I fear that many of my older fixed income neighbors cannot. Crazy times.
@@whynot-yn3ni That's their way of reducing exposure in your market. I went through this too and actually found a policy that was less expensive than my original one.
Your videos have really improved, meaty content, great guests, lots of information, without all the fluff and emotion. I don't like vlogs greater than 20 minutes, but your vlogs are very interesting. Thanks.
@@SachsRealty hey todd its Derrick here long time 32 year realtor from nyc now here in columbia and shout out to darnel my realtor from your camp he is a beast lke you are...hopefuly we can meet up my man i been doin this almost as long as you and we about same age so we been around long enough to know that a hella correction is on its way....its actually already landed in the first inning...these guests were not bad a little out of touch but im not surprised given there economic position there in now but it does come off as somewhat fantasy landish lol bc the rest of us got to live in the reality of the current situation...and his wife is not taken into account that a deep recession is dam near here and people with those low 3per interest rates are gonna be forced to have to sell if they or there spouse or partner lose there job...and mass layoffs are ramping up this we know...the auto industry is getting body slammed with nissan already laying off 9000 employees with stalantis also shutting down one of its logistics plants with more coming accordintg to ceo carlos tavares...ford ceo jim farley is very concerned about fords sales which are abysmal..so from the food restaurant industry to auto to private sector even some govt jobs trump has already said non essestial some of them will be eliminated,,,,so my point is the inventory will explode and soon enough we both see it coming....also my man as i told melissa about....if you want to really take this show into the stratesphere get travis the economic ninja on your show...his channel is a beast and he shares your views and he gets alot of views like you do...or nick gurli of revneture consultiing...man you will break the net on that ish....well in any case your show is good reall good and now all my nyc collegues and friends from remax to investors friends of mine there to all watch your show....your good and have come along way...stay up my man i will hit you on the email...stay blessed and safe and well done on your show again......Derrick realtor nyc remax
The delinquency rates on FHA and GSE loans have been hidden via forebearance plans. Hundreds of thousands of dlq loans are in forebearance some still from GFC and covid, and many are paying less than interest due, as govt cant afford to put them in foreclosure, as these people have no place to go. Most are negative equity by up to 200-300%,and in their 5-7th forbearance plan, so the govt has basically bcoime a nationalised rental system. If they foreclose, it will push down values and create a waterfall effect of falling prices and force more to walk away like 2009
All of this chipping around the edges. The issue with cost of everything is devaluation of our purchasing power. Revaluation is the dirty little secret that's coming. Everything else is another bandaid. Trees don't grow to the sky, remember?
sellers who have homes that doubled or tripled price in the last 2-5 years and then "lower" their asking price 5-7% expecting buyers to be "excited" are delusional.
coffee already, spiking in price, Saturday, 9th, of November, & Trump not in office yet.
Hard pass for me as well. I’ll continue to let my money grow in a HYS risk free.
Sorry! Trump isn't going to be able to do anything. This is a supply/demand issue isn't going to be fixed unless we have a recession-something that really affects housing. Or were build, several million homes to level out demand. That will take a decade, at least! Until rates come down where people can basically swap rates, as long as those low rate owners keep a job, can afford and willing to stay in that home, nothing will change.
Expurt advising us home prices are going to come down , yea whoo , everyone get ready $
@@MikeBlatt-z9zHow do you get lower inflation you bring the price of fuel down. Everything drops in price after that which trump made us energy independent when he was in office. Biden did the opposite. I imagine he will do exactly what he did last time and give out federal permits to drill oil, and hand out taxcuts to oil companies. Which will allow oil companies to lower fuel prices.
I disagree with Ken on this one. We’ve been coddling people with not allowing them to lose money since Greenspan enacted the Fed Put. This idea that people can make risky bets and then be bailed out is ridiculous. People have driven up the price of real estate to ridiculous evaluations and the only logical capitalistic solution is for them to lose money.
The millions of illegals Jo and Kamala let into the country are competing for housing causing a housing shortage along with over regulation causing housing prices to overinflate.
America lost its soul during the GFC. Free money for 15 years... we are going to pay dearly for all that.
He loved the CARES ACT - how his tenants' rents got paid.
💯
Capitalism is toxic - How much money can I take from my fellow American - This is America.
Helping people stay in houses they should never have bought in the first place, and then suggest the tax payer subsidize them! That's outrageous!
yup!
Right!?
I am a money coach for a financial services company. 90% of the clients I meet with have a negative budget! I think Ken and his wife are a little to optimistic about the future outcome. Its going to get really bad. People need to get their head out of the sand and get out of debt, cut expenses and ride out the storm that is coming.
It amazes me that many people go through life, not knowing financial management.
Are we expecting inflation to worsen especially with the increasing of tariffs?
He has endless money supply unlike the real people so far detached from reality
Ken thinks people like his parents never being able to buy a home is good. Because it is GOOD FOR HIM!
It already started snowing, this is a rolling recession that already started...... the red flag was when the eurodollar curve inverted
Subsidized by the gov !?!? Why should people who borrow WAYYYYY TOO MUCH be rewarded with free money (inflation).
It stops the small guy from being able to compete in a FREE MARKET.
I bet they are against student loan relief thou 😂
Well that’s the thing we’re not in a free market anymore. We have a centrally planned economy now with the illusion of a free market hope fully Trump changes that
The explosion of home flipping tv shows created this illusion where EVERYONE expects to make a profit and it’s supposed to be easy.
@@MarlonGSR I mean it did make me rich. I spent maybe 10 minutes learning about real estate and my boss would just tell me buy everything you can now wait 5 years sell and buy something bigger and my god did that work. Thankfully i pulled out but holly shit did that work.
@@kawa1755That sounds like you timed it perfectly! If you had those properties prior to 2020 and you sold at the peek of inflation, yeah you made a boatload of money!
I respectfully disagree with Ken. Well at least partially but we are definitely in a housing bubble.
Housing bubble it is!
If you want to call it a bubble fine. I agree that the bubble may deflate a little, but it won’t bust. We won’t see home prices go back to pre pandemic levels in most markets. It’s just not going to happen! We would need a deep long recession/depression for that to happen and the indicators aren’t showing that. You wouldn’t want that anyway. At that point, you would be worried about your job and keeping it!
@@Aggie4life77 I agree, but we have the Government and the Fed to thank for us not seeing a real correction. The Government needs to keep their noses and hands off of the market and let the chips fall where they need to.
Ken is out of touch
Most rich people are out of touch
They're not out of touch! They have an agenda to keep their business rolling in.
Ignorance is bliss until you lose a SHIT ton of money 😆
I don't need to hear from a guy who's part of a problem, about possible solutions, he is a viper at his very core
Ken seems afraid to speak truthfully about the housing market...he's boring and uses word salad to avoid saying what needs to be said
Maybe because he has do much real estate doesn’t want to talk down real estate.
Well, he's a real estate investor, and most of his wealth is tied to real estate
@Stoneface_ thanks to ZIRP too
What do you think is going to happen?
The minute I laid eyes on both of them...I was uncomfortable looking at them. He speaks in a rehearsed fake way and the women cant quit moving or adjusting her hair, looking to her left and the floor...kinda fidgeting. She is uncomfortable just sitting there while he talks, probably because she knows he is not genuine and a person of integrity. She has heard this speech 1000 times before. In general when a person fidgets it is a sign of them not being truthful/honest.
The government doesn't want prices to decline - they need ever increasing property taxes.
@@andywurst4873 Exactly. This is precisely why tax fraud is on the rise by County Tax Assessors. Some cities and school districts would otherwise go bankrupt. They augment their books by increasing property taxes on home owners. Americans are being hit by greed and corruption from corporations, lobbyists, and our very own Governments. Disgusting🤮
Ken thinks the government providing people with second mortgages and 40 year mortgages are a good idea????
Yes. He gets rich with this crap. It’s unacceptable
The GSE are already doing this with forebereance plans, and these plans are failing by hundreds of thousands of loans. Some of the borrowers cant even pay a portion of the interest due, and are in their 5-7th plan. They have become renters to the govt. as govt cant afford the equity losses in the financial system. Worked at GSE for 20 yrs. and they are at the govts control.
Isn’t this guy a big house flipper? He’s part of the problem!
These two are really dropping in my estimation credibility wise. Just more crony capitalism “ hey we want to help the average guy or gal” routine when really they are essentially lobbying for more government subsidies ( in one way or another) that could greatly increase their businesses long term profitability. A new GFC in the making just in a slow burn form is what we will get.
If the average home buyer age is 40-50, they would be 80-90 by the time the mortgage is paid off. Absolute insanity to put debt on someone for half of their lives, and they would not be able to retire.
N.W.O.+W.E.F.= FEW OWN
🫠
So true!
Excellent.
So many homes near my area are delusional pricing it 100k higher than what it’s worth and with almost no renovations and needing new roofs and ac. They truly think it’s still the pandemic.
It's worth whatever the next buyer is willing to pay
Exactly. You gotta know when to hold'em and know when to sell'em. Sellers held 6 months too long. Buy low and sell high.
@eplugplay8409 then why the Appraisers helping them inflate their properties creating this overpriced mess
@@Carolyn-vh4nz In a form of increasing property taxes and many people finally selling their home trying to downsize selling their big home because either they are retired with older children or cannot afford higher insurance/energy bills/maintenance BUt they see home prices selling for ridiculous amount the last 2 years so they are still greedy.
Renting is looking better
At what point do we acknowledge that wealthy investors like Ken McElroy are a huge part of the reason why housing has become so unaffordable? The financialization of real estate with multi billion dollar corporations like BlackRock has created this huge bubble.
Ken’s a multi family operator. We need the Ken McElroys in that space, he’s not a single family housing investor.
I understand that he's not an investor in single family housing, but you don't believe that multi family housing hasn't also been taken over by a few wealthy investors like Ken McElroy and corporations like Black Rock? When Americans some even with full time jobs are homeless or having to live in their vehicles how can you say that rentals are affordable in major cities like N.Y. , S.F. and other cities and towns all over the country? You seriously don't believe there's a serious affordability problem with multi family housing along with single-family housing? Ken says more supply is going to solve it, but maybe the problem is allowing a few people like Ken McElroy and corporations to price control and monopolize the market?
Fax. Then he goes into how his kids can’t afford a home, come on man! Everyone knows you’re rich, stop pretending to be one of us normal people.
@SityClicker1 I know he's a multi-millionaire flying private jets around the country and his own kids can't afford to buy a home? Hello?
He can afford one for then but he's probably telling the truth that they can afford one on their own.
Hurry up 2008!!!... I'm ready this time 🎉🎉🎉
It would be good for those looking for cheap housing but did you know how the entire financial system almost collapsed? Plus now with Dodd Frank Act we the people will be the ones bailing in the banks, not the government.
Me too !!!! Let's go !!!
Me three
It's going to be the 70s. Inflation, prices won't go up or down, interest rates rise. Home ownership is going to become harder and harder to earn.
@CrashBr0 and the fact that you're "ready" means "they" won't let it crash. Just look at the stock market. Michael burry bought billions of dollars in puts when the market hit $4600... now it's $6000. Don't bet against America, play the game and win.
2008 ain't coming back but IF it does, be ready.
Expect the best, prepare for the worst
*A lot of people are suffering from putting food on the table yet many are sleepwalking! Facing this recession without investing is actually risky, salaries are easily spent!*
Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject. Thanks to Mylah Evander the lady my friend recommended to me.
Investment is the best idea presently and without it, human struggles are worthless.
Could you be kind enough to share the info of this advisor guilding you?
Exactly, I can testify more of that,get the aplication installed and look her up with the above name,make sure there's no added letter or number.
So excited hearing people testify to their financial success and sharing information too. I think I should also give it a try and be a part of this.
Todd getting all the big guest and he is asking all the good questions.
Thank you 💪
Homes are being driven up through Property tax fraud. Insurance companies will be bankrupted (with undisclosed weather weapons). Once you cannot obtain insurance, your mortgage goes bye bye. Nevermind the one you try to get. The one you've GOT! 😳
Absolutely! Don’t forget the fraudulent appraisals!!!!!
Yes the Real Estate Mindset channel did a great job covering the property tax fraud in Texas and other states.
The current housing market is definitely unhealthy - this is the consensus. For the future, no one know but naturally most likely need correction or crash down. There are plenty of vacant or live by lone senior houses that just will come to market in near future.
Why would anyone be surprised that home prices could rise 100% in 3 years when it already happened before between 2003 and 2007?
Mean Revert
They both like talking about themselves. A lot.
Amen. She comes across as a 2nd tier drink server, and he comes across as a 3rd rate human being. Together, they are living proof that money and success are 2 different things.
Right?!?! I had to fast forward over 15 minutes of him talking about himself. I really didn't want to know about the dude personally, I wanted the interview Todd was getting. They just looked so stuffy and the wife looked stiff, like they don't know how to connect with people. It was cringe.
I think a major problem is the whole concept of a mortgage backed security. If lenders actually had to hold their loans, these insane mortgages with disgusting price:income ratio would be less likely to be issued. People cannot afford these prices without insane amounts of credit.
A large problem is the removal of limits on government backed mortgages. In my area VA mortgages are being issues for two million dollar waterfront properties. No one can compete with that unlimited credit unless you are willing to become a debt slave.
Great point!
@@parkerbro1989 Absolutely 💯 agree‼️
Bro what? Supply is off the chain, its just tied up with airbnb and speculators trying to hold on.
Yeah and even if they did build more supply, don’t these people need jobs as well? driving 1hr plus to get to work isn’t sustainable this ken and his sugar baby’s heads are in the atmosphere. “Let them eat cake” would’ve been more sufficient. I think they need to change the tax code so owning more than a certain number of homes/properties you pay an arm and leg anything else is just banter
@@Ambience88 The economy is going to do a rapid U-turn with the election.
@@Ambience88 Exactly, they need to make it cost prohibitive to snap up single family homes and apartment complexes so they can make even more millions and millions of dollars. Doubtful they will ever enact legislation to do that because the US is a true Oligarchy and Plutocracy.
I have seen videos o Melody walking around built or almost built nighborhoods that are NOT on the market. Also known as stealth inventory. I agree with you I think boomers, investors like blackrock and the builders have all sucked up or are hiding inventory to keep prices inflated. I don't think there is an inventory problem in most markets. Some of course. But should we have even a slight pull back say a 25% one in stock and or housing... the wheels could come flying off. Those boomers will bet nervous they are losing money... inventory floods the market. We will see soon enough if my thesis is correct. Within 2 year max.
@@bpb5541 I agree with you. I stopped listening to Ken and Danielle McElroy. I think they’re out of touch and they have convinced themselves that they’re doing something good for the people by providing housing units, when in reality people would rather own. In reality they serve themselves. I love Melody Wright, I recommend people listen to her. She is very knowledgeable and insightful on this subject.
I live in a high end lakefront condo in Chicago and the problems are coming from job losses and people who bought since 2020 and cant rent nor sell as not enough equity.
Im confused because texas has apartments complexes going for 50 cents on the dollar right now
DFW housing marked is completed screwed.. prices are doubled and triples from 2019 levels. Many people claiming that its due to lot of inbound migration, not only that 90% of the homes owned by Asian community, many of them had and working on more than two jobs and they can throw any price!
@Sachsrealty youre one of the good ones. Wish there were many more realtors like you.
@@ZuluNation05 I agree with your comment. I appreciate Todd. I like running in to @Sachsrealty
With all respect, I do appreciate bringing very knowledgeable and experienced people to talk to, but first 20 min too many personal questions that I don’t need to know (who met who and where, how is your schedule looks like and blah-blah-blah ). Personally, I would prefer much shorter intro
Houses are beyond reach now for MANY!
Sad day.
America is for sale... has been since at least the GFC. Ever since then it has just gotten worse. Class inequity and the stealing of the middle classes money by the rich... might end very poorly.
it sounds like Ken thinks multifamily has already hit bottom.... not even close.
I dissagree. We need interest rates to go up to 7 or 8%, which should drive down the prices over time. When people purchase houses and the interests rates drop, these new homeowners can refinance.
I’m in northern nj and my Nieghbor just went under contract with 200k over asking price!
The asking price in my mind was 100-125k over what the house is most likely worth this time in pricing is out of control!
What was the list price?
That's amazing. Who is the buyer? A Chinese government official?
@BigTomInTheBasement probably an American weapons manufacturer..😂..they are richest people on Earth..
I’ve been in my house for about 20yrs they bought that house 6 yrs ago which is 275k under what they were asking for. It is lake front but over all if I’m being logical about it, it’s all way beyond what reality is for pricing is what I’m saying
@mjrcrawler you're probably right. Pricing is out of control because the government decided to put their foot on the scales.
I’m a loyal Sachs listener. I couldn’t disagree with a majority of their assessment and outlook. Obviously taped before the election and to assume government intervention is needed is adding further complications. Floating a 40 yr is insane.
Assuming the the Fed rate drop has anything to do with mortgage rate is also misleading and frankly inaccurate
We recorded this the day before the election 👍
@@JohnBarr-ys9zl 💯 agree with you. Floating a 40 year mortgage is insane. This would only enslave average Americans. Hearing Ken suggest this disgusted me, as I envisioned him and other investors/corporations lobbying for this . Unbelievable!!!
Housing is not stocks, they are homes. We need to get investors out of housing ASAP.
There was mention of capitalist system, but I think we are far from it. These large institutional outfits buying homes are doing so with with cheap/almost free money from the Fed. There is a strong desire by governments all around to keep property values high to help with tax extraction.
If home prices don't correct, this market does not correct
Ken wrong about 3 month’s inventory.
“Do you think we’re in a housing bubble now?”
“No, I think we’re in an affordability problem.” 😆
@@stevenap4594 His first response was “No, I think we have an inventory shortage” 😂 I’m 48 and I’ve never seen so much new construction of cookie cutter houses in my lifetime.
Hello Mr Sachs, what happened to the video of Allan Lichtman predicting Kamala would win the election?
😂😂😂
Did he take it down?
@@TheInterwebzManI believe so, I cannot find it
Thank you for doing this interview with Ken 🙏🏼
Real Estate values.... Get back to me after the stock market crash.
👍Yep
100% coming in 2025... massive deflationary event
@@DJRS2178 The initial wave of the stock crash could begin next week...but the compooters will likely hold things up til after options expiry next Friday.
@@SachsRealty How could all of these ex-spurts you have on be so clueless? This clown McElroy had no idea that Blackrock and Blackstone were given a mandate by the U.S. govmint to buy up bank foreclosed homes by the thousands between 2009 and 2015? I guess he has no clue how a self employed individual that made say $50K per year in 2019 and then fudged the numbers so that he could get $20K in PPP Covid money plus an additional $100K in EIDL loans can "obviously" affect the real estate market? That's where the supply went....govmint collusion with corporations and people of means. Clowns like McElroy and Kiyosaki make MUCH more $$$ from selling their wares to wannabees than they ever will practicing what they preach. I heard Kiyosaki owns thousands of properties. Hopefully he gets completely wiped out when the market reprices the advantage he was given.
And what happens next week
Do you really expect me to subsidize everyone’s loan that is high risk and expect insurance companies to insure high risk locations at a bargain basement price. I would never thought people in business could be so economically illiterate. I think we are just looking at a bunch of people looking to have their business subsidized.
They're saying that because they're people who would benefit from it.
@@underleft Exactly! I find them disingenuous. I think I watched 3 episodes before i decided I couldn’t watch them anymore.
Rates are determined by bond rate risk. Not the FEDERAL Reserve lowering rates. With debt beyond mathematical reach I see more risk and higher mortgage rates removing buyers from the purchase and causing prices to continue downward.
100%
Parents paid $ 12,000 in 1958 . Sole it for $ 360,000 in 2021 . Now $470,000 on Zillow with the interest rates much higher then it was .
Dollar is Collapsing . House is the same . Gold & Silver , food & water , ammo to protect it or to get more if you need it .
Dollar is collapsing? The dollar is holding a higher level than it was in 2020...and that's after over $9 trillion was injected into the money supply by Trump and Biden. You have no clue what you are talking about. Dollar will only get stronger as literally $trillions come out of assets of all types.
51:00 why not a 90 or 100 year mortgage 😂 don't you people get that the financial system only gets more and more expensive year after year by design...we were disallowed to print our own currency as a government and instead borrow with interest ☠
Why is no one talking about corporate and overseas buyers driving up prices?
My son got lucky and bought his first house at 27, 3 years ago for 2.5 interest.
Interest rates just push up prices. Crash and burn, crash and burn. Prices need to be lowered where the average working person can afford to purchase a home. Greed seems to be the theme here. What happened to humanity’s needs over the greed and investors wallets.
Ken & Danielle are so great because they are so humble and kind. You can tell by the way they talk just how authentic they both are! And that’s impressive since they are worth over $500,000,000
@@WTF-sh4is Thanks son.
They're not worth over $500M. Cmon
No, assets- liabilities is the formula. And now they want us the tax payer to subsidize their business. That is not humble. I liked these two early on. But now they have turned into part of the problem. Wanting to bury people in debt for ever and hit the taxpayers up for their business growth. Hey where is my subsidy for paying off my mortgage and not spending on an out of control life style. See the problem here.
But the percentage of Wall Street investors is actually very small Ken, look it up.
😂😂😂 totally disagree. That video was hard to watch. They did not sound or feel authentic or genuine or out for anything but promoting themselves. Gross.
Ken is so wrong the GFC with homes it was an affordability crisis, same thing as now. There is plenty of supply. He knows he's caught with his pants down. Banko time Kenny boy!
The difference between then and now is that the affordability crisis was at the homeowner level, this time around it's not. HUGE DIFFERENCE. Especially with low rates on the horizon.
@ComicLover-oj5sv ha ha ha ha ok. Low rates are not on the horizon the bond market is telling you that, especially with the debt and deficit.
@@archstanton2411 The 10-year topped at 4.48 the day after the election. With pro-American policies back in play, the 10-year will drop from here. It's coming.
And prices CONTINUE to increase!
honestly, pl cut the intros down to 2-3 min per person guys! bring the episode to
Todd killing it with the interviews 👍
Thank you 💪
In some states, you are not allowed to know who is trying to buy your home.
Realtor: You got an offer, x-dollars, no contingencies, no inspections. You in?
Seller: Is it an institutional investor?
Realtor: I'm not allowed to disclose that information. You in?
Sellers ARE NOT going to care who buys their homes as long as they get max price. It's hilarious to think there are actual homesellers with 'bleeding hearts'. Just save up and be patient. There are better things to spend money on other than a house and all the headache that goes with it at this time.
Money just isn’t worth as much 5 years ago. My house was appraised in 2018 at $197,000. In 2022 it was reappraised at $410,000. Now that same model home is selling for $350k. But for those who think home owners like me will sell our house at a 50% from the top are delusional. Why would I sell my home for $205,000 ? Never going to happen I would just rent it out for the $2300 I get from my other rentals
It’s always good to listen to various opinions on this issue - the current state of the housing market.
I think lower interest rates and 40-year mortgages are the wrong answers. The only variable that needs to move right now is housing prices. We don’t need government interventions to make currently unaffordable houses seem affordable. We need the market to try to return to normal.
What is going on with self storage?
40 years mortgages is effectively turning buyers into renters. Most home owners will never pay off the loan. Want to increase home supply? One step would be prohibit access to single family homes from institutional investors, foreign buyers (green-card holder exempted), while increase taxes on single family homes landlords. Finally provide tax incentives for sellers who sell their home to a family. No construction needed, just the right nudge.
Black rock being able to borrow money @ 1 % is the problem
Pandering for views
Two paths to wealth...
1. Be smart, work hard, take risks.
2. Be young, attractive, female and get with an older dude has nailed #1.
Solid advice.
why don't we just extend the loans to 500 years..... and pay a dollar a month and have a house to live in.... that sounds incredible😂
Half of the people should never owned a home in the first place.
That’s ridiculous. We should all be buying homes for landlords? Paying their mortgages? We can’t afford our own homes but we can pay for other people’s homes? 🤡
Need to stop corporations from buying
@@hirdaydhillon1772 Absolutely 💯
@@hirdaydhillon1772 And ban foreigners from investing in the U.S., period!
Terrific episode
Great interview!
Plain and simple you cannot build a home at the cost per square foot you can buy an existing home for. It’s simple and until building homes is cheaper housing prices aren’t going to change in a way most people think they will. Sun belt will see the biggest change and north east will not drop more than 10 percent.
Ken says we are not in a housing bubble....huh????....he just doesn't want the market to crash and loose all his renters to foreclosure auctions.
Zillow is definitely guilty in this bubble, as they are still posting extremely high estimates, often $100K's higher than area comps. Also, the site is very, very slow to update properties leading to thousands of dishonest evaluations.
40 year mods aren’t working. Pipe dream lol 😂
Ken states that lower rates from the Fed are needed yet later his daughter admits that they must likely will drive up prices...
Yeah, that's what consumers need.
This makes me so sad. We sold two years ago and there have been no houses to choose from. I’m starting to think we will never own a home again🥲
Ken doesn’t get it. The supply shock will come once people lose their jobs.
Ken has been claiming no bubble for the past three years at least.
As a Kiyosaki follower, he's using debt to finance his real estate purchases. Deflation would destroy him.
Of course he wants 40 years loans so owners don't default... aka pass the debt onto the lender.
Of course he wants subsidies and cheaper finance rates to keep prices up.
yep
Lenders are giving first time homebuyers programs per what they qualify for. Every application has the minimal qualification per borrower. This is how they’re staying in business. Lennar is doing the same too for new builds. Buy downs to reel in the customers thinking they’re getting a good deal. 😅
There needs to be paused on single family homes for Investors
I just sold my house in California. She is wrong people were buying.
And they will, with your millions. Your family is in a great spot. God bless
That doesn't make sense. What's the difference between a bubble and an affordability problem?
@@MissBabalu102 😂, I think these two terms can be used interchangeably.
I really enjoy your interviews Howevi think you need to put out the episodes faster. They are always lagging behind current events.
Ken and Danielle will always be praying that we don't have a crash.... they'll be so devastated maybe even become poor..... they are so leveraged.
Please do a video on the cement homes and the affordability of them. Thank you.
3D cement homes!
We need to allow the foreclosures to go through the process and increase inventory. If people cannot work out a repayment plan and refuse to pay a FAIR amount, the house needs to be foreclosed. Also, we cannot have a repayment plan that allows for 40+ years repayment and a portion of the mortgage put on the "backend" because we all know the "backend" at 0% interest will be a request from the owner to be forgiven just like the request for the student loan debt. I can hear it now, "What do you mean I still owe $100K on the house, we paid it off. I had no idea that you put $100K on the backend with 0% interest. You should just forgive the debt. I paid off my home and this is "predatory" lending."
Danielle doesn't think we should focus..... focus focus..... we're not in a shortage we're in a position where big money is putting majority of the people in slavery and indentured servitude. maybe government needs to mandate these large Wall Street companies.... can't charge rent any longer.. everybody gets to living one of their houses for free.
When does the discounted construction cost force prices down?
Great talk. Thank you.
I don't think deflation will happen. But what I do see is the cost and risk to hold an asset (esp a rental house) becomes to exponentially high and people can't hold onto what they have...
Love for y’all to have George Gammon on to pick his macro global financial brain and to get insights from him on what he sees from a reality standpoint from his current home in Columbia.
Additionally, I think his disdain for the Federal Reserve matched with your opinions on that cartel would provide entrainment for your audience.
Plus he is good friends with Ken McElroy so he should be able to build off what Ken has shared with you in this episode.
Just an idea.
Would love to podcast with George. Please let him know in his video comments to podcast with me 🙋♂️. I’ve tried to get him on the show. 😞
I used to like George too. But his Trump hatred rants caused me to unsubscribe, but hard to know if he was just covering to prevent censorship. That is why we must preserve and uphold the US constitution, or what will become of our search for truth in a world full of censors, sneaky shadow banning , deplatforming etc
Maybe monitor lumber prices and buy materials at a low and build.
Or hire traders to hedge with Futures
This is a key point. Generally existing home prices don’t drop lower than new build costs( for a comparable house in excellent condition in desirable area) I don’t hear many people talking about that. So in my very desirable area ( DMV) I don’t think prices can drop unless new build labor and materials and site development cost drop a lot. Property zoned land is limited in my area, and build cost still high, so…
The amount of leverage that has been allowed in the real estate sector is criminal.
Property rates and insurance is the new adjustable rate component
kiyosaki is not really the smartest man in the room... but he's a good salesman. book salesman
I am obsessed with absorbing all the knowledge that Ken McElroy constantly shares with his audience. As such, I was overjoyed to see him pop up on your channel this morning. I have been following Sachs Reality since the early days and have been constantly impressed how you are able to get so many hugely impressive guests like Ken.
Thank you and best wishes for your channel’s continued success.
FYI, I own house in the greater Austin area and my homeowners insurance just renewed this month. It jumped $485 a month! Thankfully we can afford it, but I fear that many of my older fixed income neighbors cannot.
Crazy times.
Appreciate that 🙏 Thank you!
Todd chant!!! 🎉🎉🎉
Yea Todd made me feel not crazy and stop feeling FOMO
We own but would like more space. But not at 2023 prices
Shop around. How much was your annual premium and how much is it now?
@@ComicLover-oj5svwe were paying close to $3k and now it is nearly $7500 annually.
Definitely reaching out to my broker to see what else is available.
@@whynot-yn3ni That's their way of reducing exposure in your market. I went through this too and actually found a policy that was less expensive than my original one.
Prices and taxes are very high, salaries are not.
People woke up from the dream called the american dream.
Kenny's looking for some government money.... subsidized subsidized subsidized low interest low interest low interest subsidized subsidized low interest low interest.
Your videos have really improved, meaty content, great guests, lots of information, without all the fluff and emotion. I don't like vlogs greater than 20 minutes, but your vlogs are very interesting. Thanks.
Very kind 🙏 Thank you.
@@SachsRealty hey todd its Derrick here long time 32 year realtor from nyc now here in columbia and shout out to darnel my realtor from your camp he is a beast lke you are...hopefuly we can meet up my man i been doin this almost as long as you and we about same age so we been around long enough to know that a hella correction is on its way....its actually already landed in the first inning...these guests were not bad a little out of touch but im not surprised given there economic position there in now but it does come off as somewhat fantasy landish lol bc the rest of us got to live in the reality of the current situation...and his wife is not taken into account that a deep recession is dam near here and people with those low 3per interest rates are gonna be forced to have to sell if they or there spouse or partner lose there job...and mass layoffs are ramping up this we know...the auto industry is getting body slammed with nissan already laying off 9000 employees with stalantis also shutting down one of its logistics plants with more coming accordintg to ceo carlos tavares...ford ceo jim farley is very concerned about fords sales which are abysmal..so from the food restaurant industry to auto to private sector even some govt jobs trump has already said non essestial some of them will be eliminated,,,,so my point is the inventory will explode and soon enough we both see it coming....also my man as i told melissa about....if you want to really take this show into the stratesphere get travis the economic ninja on your show...his channel is a beast and he shares your views and he gets alot of views like you do...or nick gurli of revneture consultiing...man you will break the net on that ish....well in any case your show is good reall good and now all my nyc collegues and friends from remax to investors friends of mine there to all watch your show....your good and have come along way...stay up my man i will hit you on the email...stay blessed and safe and well done on your show again......Derrick realtor nyc remax
The delinquency rates on FHA and GSE loans have been hidden via forebearance plans. Hundreds of thousands of dlq loans are in forebearance some still from GFC and covid, and many are paying less than interest due, as govt cant afford to put them in foreclosure, as these people have no place to go. Most are negative equity by up to 200-300%,and in their 5-7th forbearance plan, so the govt has basically bcoime a nationalised rental system. If they foreclose, it will push down values and create a waterfall effect of falling prices and force more to walk away like 2009
Lumber is at 1/3 of the pandemic highs. 10 yr bond chart looks like it's mean reverting.
What American dream........ I bought my first house with no down payment. Now the agents are just making the commission %
All of this chipping around the edges. The issue with cost of everything is devaluation of our purchasing power. Revaluation is the dirty little secret that's coming. Everything else is another bandaid. Trees don't grow to the sky, remember?