THIS Was Supposed To Fix The Housing Crisis! Where's my affordable housing?
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- Опубликовано: 5 янв 2024
- Where's my affordable housing? Unveiling the failed solution in the search for affordable housing. In this eye-opening video, we delve into the promises made and the expectations set by a solution that was supposed to fix the housing crisis. Join us as we explore the realities behind the rhetoric and ask the crucial question: Where is the affordable housing we were promised? From policy analysis to on-the-ground investigations, we uncover the factors contributing to the continued challenges in the housing market. Whether you're a concerned citizen, a policymaker, or someone affected by the housing crisis, this video aims to shed light on the complexities surrounding affordable housing. Watch now to gain insights and join the conversation about the urgent need for viable solutions. #HousingCrisis #AffordableHousing #RealEstateIssues
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Brought to you by:
Jerry Pinkas Real Estate Experts
604 N 27th Ave
Myrtle Beach, SC 29577
843-839-9870
🟢 Start Here! - www.HomeGuideMyrtleBeach.com
Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.
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My son works for a hedge fund and I've learned a lot from him. A big component in housing inflation is a huge sum of investment money from REIT's, corporations, hedge funds, wealthy individuals that is being used to buy up housing and turn them into rentals, for both long term and vacation purposes. Something like one third of all home purchases are on a cash basis, removing them from the interest rate problem. Yes, there are other forces at play, but, this is a huge one. And it is very much of an example of where the very wealthy are getting richer at the expense of the middle class.
If you have enough money to buy all of anything, you can then charge any price you want for it, and people will do what's necessary to pay it! And we've perverted our societal values such that that's considered "creating housing value."
This has been going on for several years.
The rich are at the root of all of our problems, but getting Americans to admit this is a losing battle.
The greatest wealth transfers the world has ever seen since 1913, is happening right before your eyes. The failure of the Federal Reserve note is imminent. We are moving from an economy based on speculation, to sound money (Sounds crazy right, but what is your dollar really worth). So, behind the scenes, Black Rock and the other large banking institutions, or hanging on for dear life. Because once the public finds out about the rehypothecated (they own, you do not) stocks that they've been selling for the last 20 years. Speculation/ casino that is going on. People will run and cash out their accounts. Sell off what "imaginary" stock they think they own. So of course, in concert with the Three letter agencies that are supposed to protect us. They will kick the can down the road as long as they can. Trying to leave "US" the taxpayer holding the bag.
What if the price of housing collapses? Bailout Redux?
New construction in my area, riverside ca. start $750K-$990K completely outrages!
That's quite reasonable price 🤔
If everyone in (and outside of!) the USA who owns ten or more homes was forced to sell them at market rate, there would be no housing crisis.
That is called Communism.
@@wan-juyim1919 What's it called when one foreigner owns 30,000 houses in the USA?
What one Amerian needs more than ten homes? I thought *one* was a reasonable number but maybe affluent people want a vacation house.
@@stickyfox You dont have to go that extreme. Due to those who own more than one house, some people who dont have lump sum money or who dont like to risk mortgage can find a rental property.
When everybody owns a house each such as former communism countries, each house owner cant maintain it due to not being able to generate extra income .Then all house will be decaying. Communism has already proved it and disappeared into the history. Capitalism is less evil. Thats all.
@stickyfox anything wrong with foreign investors own real estates in this country????? More fellow American investors own real estates all over the world also.
Geez people like you need to move to North Korea or other communist countries where your kinds belong smfh
The truth is SFH is no longer profitable to the builders. Why build a SFH when you can build a Multfamily or apartment.
Great video. Unfortunately nobody wants to really solve the housing issue as no politician wants to be the one to put their name on a bill that will cost homeowners equity.
Not only can they do MUCH more to increase supply (for ownership not apartment buildings) but they can also do things to stop non primary residents from driving the prices up. In my market, its not uncommon for someone from China to buy a place cash and outbid everyone else by a huge margin and never move into the home.
Restricting investors and foreign buyers definitely would have curbed all the runaway appreciation where I am. But everyone loved seeing their values go up and continue to think its a good thing.
that's only because we're forced to stockpile wealth for our survival in retirement. If our nation took care of its citizens nobody would worry about losing equity.
Greed runs the whole game❤
The answer is yes as long as Wall Street continues to treat real estate like a casino and Nimby’s keep getting in the way of building more vertical, dense, and smaller homes that can be owned. One of the few things I agree with the current legislature in Raleigh is that they are basically saying “build whatever you want”. That way the nimby’s who complain and lobby against smaller homes being built nearby can be told to kick rocks (which is not how I wanted to say it but this is online).
For that repleace the property tax with a land value tax.
I've worked in residential home building and land development for over 30 years. Your points are spot on.
The issue here isn't allowing for denser neighborhoods. The US has ample empty land. Life is expensive now, so when the builder is done with a project he can't sell it for a large margin because his cost is high and he can't increase the price further as few can afford $500k. Also rent in terms of ROI on purchased homes places a limit on how high they can charge. You can't sell a home for $500k if renting the same home is a 3% ROI. Rent will be better, the house is very expensive already for most people to buy, so the invester won't finance the project thus no new builds. The root fix here is either fix inflation or raise wages
Long Island, NY all of the houses that were built in the 50's are being flipped to McMansions worth 1.5 million after the original owners pass away and the children sell moms & dads house . There is no affordable housing on Long Island
You probably will have to move like I was forced to do if I wanted to own a home.
Since when do these municipal corporations get to make laws for "We the people." Therein lies are problem. Once We the people, "GET"are rights back and form our own laws for our own communities. We can push, the big corporate entities out of our way. Policy is not LAW!!! We are being governed by the laws of contract covered under the UCC. By participating with these municipal corporations, you are giving away your consent to ownership of anything!!!! QUIT PLAYING GAMES WITH THESE PEOPLE. They, the corporations(dead entities) are playing chess, while you are playing checkers!!!!
PS. Great content! Keep it coming, the sleepers will need to wake up!!!!
lol.
The real problem is who really pulls the puppet strings of those in power. Big money and paying off the right people means more to the politicians especially since they are always worried about having enough money for their next political campaign. Unfortunately, the 🤡 s in the SCOTUS long ago decided that unlimited money and corporations with the rights of a person were a good idea and supported by law and the “constitution” so we are stuck with it. Of course, there is little hope that this will change anytime soon.
Here in Vegas, in the pass 2 years I’ve seen hundreds of houses getting built. People are still buying them out. I don’t like these new homes, they are cookie cutter homes with small 4000 sqft lot. Small streets, there’s no side walks. Crazy how close they are next to each other. One house on fire will take out the whole community.
Have yet to see results from affordable housing initiatives here in Massachusetts. Which tells me the “good olde boys” are still pulling the strings.
Housing is booming in my town. I live outside of Tucson Az. Plus towns like Vail AZ, San Tan AZ and Queen Creek can’t build homes fast enough. But Arizona is where Californians are moving in droves.
Yes - it is shocking to drive anywhere in the east valley. All three lanes are being used during the day - not just rush hour. It is shocking how many people have moved here during the pandemic. I wish they would go back tbh. We don’t want California problems brought here.👎🏽
Jerry, what are your favorite sources for real estate data, nationwide?
As long as my Arizona home's value moves in sync with SC homes, I'll just pay off the mortgage in the next 8 years and buy the SC home with cash.
There's only one thing that dictates all of these issues ...... greed. No political party. It's like every other industry......PROFIT OVER PEOPLE. PERIOD.
But the prices of new construction homes are going down year to year.
I am retired and live 40 miles from D.C. The crooks here keep up real estate. Going over asking 20%
Yes, to answer your question?
Affordable housing dreams turning into a mystery! 🏡😟 What's your take on the housing crisis fix? Share your thoughts and let's brainstorm solutions together.
Sleeping rooms only 1 room toilet and shower is where people will end up
We have about five or six new housing tracts going around me and they're at 500,000 or better that's in Homeland California
Trying to build new housing in already over populated cities will never solve the problem. States need to purchase about 9 square miles of farmland within commuter distance of existing cities in order to build high population density high rise residential cities consisting of market rate high rise condos. And rent controlled high rise apartments also need to be built along side the condos that are available to everyone no matter what your income is. Such high rise cities could easily accommodate up to 7 million residents each.
good information but why the background music that is to prompt an anxiety physical logical response. Makes me specious of your intent to inform. What's your goal of this post ???
A change in zoning laws will take years to increase housing supply as they need to be built, which is a multi-year process. The only solution to the housing problem is MORE SUPPLY, let builders build starter, low priced housing, by reducing the COSTS and restrictions of building.
Builders don't wanna build starter low priced housing. There is no money on affordable housing for builders smfh
I blame the guy who have more than 2 houses
Why do you not mention the thousands of houses that were bought by equity groups?
The inability for people to buy houses as I see it is no different now than any other period of time. Proportionality! I and my wife in 1970 bought a house for Twenty thousand dollars we were both making about $2.50 / hr each. This was a starter home as they were called. Do the math; it is simple. A new equivalent house of $200,000 or ten times the 1970 number and multiply the wage X 10 and the wage earners now have to make $25 / hour. The real problem is the lack of discipline In people’s spending habits. No one wants to go without ANYTHING to reach a goal. People are making their own problems not the market.
Your math works out to a $200,000 house today That's difficult to find now, even for a condominium in many places. This shows housing is now more expensive and less affordable
Changing zoning will have a terrible effect on middle class America.
Please slow down when kicking out that phone number sir.
This dude looks like he worked for the FED
You know about Biden GREEN HOMES PLAN? Older homes need rebuilt
Actually, Biden needs to be replaced or retired.
@@jeffrosati2570 he’s just the puppet that delivers the big bosses message
IMO, market depends on whose in the White House. Interest rates, inflation, gas prices, etc were out of control during Obama & again under Joe. Just an observation 👀🤔
WRONG ! It's the REDPUBLICSN CONGRESS that's at issue.
Exactly! And what were we told? You will own nothing! And you will be happy! Really?! 🤷♀️🤦♀️It’s just so sad!
Housing puzzle unsolved! 🏠🧩 What are your thoughts on fixing the housing crisis? Share your insights, and let's brainstorm together for more affordable and accessible housing solutions!