Thank you for pointing that out. People don't make the connection and just say oh no they CAN it's their right. But it screws the rest of the people bc that kind of money distorts the market. Meanwhile, home prices have doubled in 5 years.
@@dumpsterG 66% of Blackrock's assets come form retirement funds coming form average workers, and a significant percentage of the remaining assets come from middle-class investors.
It's bigger than that, the wars were to replace leaders that would comply with globalisation if USA capitalism, increased property prices, increase debt cost, but up all the property as people can't pay the mortgages. Most countries have had property development for this reason. Eventually though there will be no need to have empty properties when only 1 or few own them all or BTC solves this, stay positive
That's a stupid saying because nobody knows when it's time to. If you die early you might still have your life savings and "die rich". If you have spent it to early, you might starve to death.
@philippm8093......If you raise your vibration while you are existing in this realm/reality, you'll understand the quote. It's not about anything physical/something that you can touch & or FEEL. PEACE LOVE LIFE LIGHT AND HAPPINESS
We live in a broken corrupt system, and it has to change. Every hardworking American should be able to afford to buy a nice house and have the opportunity to live the American dream.
you CAN.the system isn't corrupt buddy, you're just shaking your fist at a system you've not educated yourself in. this guy is a idiot and hypocrite. he does the same thing with BTC. he hordes bitcoin.. why doesn't he share his bitcoin with someone like you?😂
@@1320_ikimashoIt has everything to do with it... because the rich people buy anything that has value, not only expensive homes. This makes it unaffordable for an average family to make ends meet while the rich dont know how to spend the money they already have.
@@1320_ikimasho Corporations should not own property. Only people have God given rights. Corporations have no rights therefore they have no property rights. We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
Completely agree! Allowing homes (SFR’s) to be used as commodities and investment vehicles is wet cost the last great real estate crash and it is what has ruined the American dream for American families now and our children into the future.
@@Dbb277-2 Exactly right. Legislation mandated lenders to give loans to people who couldn't afford them. Not only did it create excessive risk in the market, but it also drove up prices by artificially increasing money supply. And that just compounded the risk factor.
Lending practices caused by liberal policies that told vanks they had to lend to risky home buyers from disadvantaged minority groups and other poor people. Banks then bundled all those risky loans into junk bonds and then sold them. If government had stayed out of things and not forced the banks to make those loans the crash would not have happened. @Dbb277-2
Rich people investing in real estate is not what caused the 2008 crash. It was banks being forced to make mortgages to people who were not credit worthy and a large number of them defaulted. Clinton leaned on the banks and told them if they didn’t make the loans then they would be accused of racism and sexism. So they made the loans and the people defaulted which is why the banks didn’t want to loan it in the first place. Democrats Barney Frank and Chris Dodd started a government program that bought the loans from the banks and then sold them in the stock market as mortgage backed securities. People invested in them for retirement in their 401k and IRA’s. It was completely the fault of democrats. Never let a democrat be in charge of anything or it will be destroyed.
That’s not true, my American friend just purchased a penthouse in Cebo. Another Retired Air Force guy built a house in the Philippines. You don’t know what you’re talking about. Anyone can purchase property in the Philippines. What you meant to say, you have to be a Filipino to own the land.
I am not rich, but I paid off my home and vehicles outright since 2020. I feel rich because I work on my terms. I'm not chasing money like a slave. I'm free! I love life now. Let these rich people chase money with greed. When we die, we all go away and leave the money here. I'd rather enjoy my family and freedom while I am alive. To each their own. It's Monday morning, and im enjoying my coffee ☕️ at home. Nice and cozy. 😊
Congratulations friend! You’ve beaten the rat race💪🏻🔥 this is the goal everyone should have as an American living in a world where we are largely overworked and underpaid!
Absolutely! And it isn't just a rich dude. There are corporations doing that fool. It's disgusting and needs to be made illegal, whether it is the rich dude or corporations.
I don’t care about the rich dude, we can’t tell individuals how to spend their money but I am complete against corporations of any kind owning housing. I wish they didn’t even own apartments to rent it should all be mom and pops.
@@mumbles215Yes. Corporations should not own property. Only people have God given rights. Corporations have no rights therefore they have no property rights. We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
Boomers playing keep away with housing on their children and grandchildren, just so they can have long term capital. These people are selfish and don't care if Millennials don't have a place to start a family.
Well, that means you can still do it, but you will be paying more in taxes. However, if you have the money to buy up so many properties you aren't likely worried about the taxes.
@@scowlingmongrel Dude, you cannot stop property owners from selling their property to legal buyers, the only thing the government can do is prevent foreigners from purchasing property.
13 million “new” ppl brought over needing affordable homes devoured over 3 years . That’s millions - compared to blkrck has 55k houses in thise portfolio
In Toronto if you were to do that you would be subjected to a “Vacant Tax” which is calculated based on the assessed value of the property. You are required to make a annual declaration to the city by a certain deadline date.
@@kevinm5871 that oppressive. We buy a home with our hard earned money and pay massive property taxes. Which in this cases those taxes do not benefit the home owner. That socialism 101 you can keep Canada
@@Mark-if1yuNope, it keeps you from hoarding and thereby oppressing people who want to actually *live* in a house. There's no good reason to just have a vacant house that you never use and won't let anyone else use either.
Yes, they are empty. The built allot of townhouses too, that no one can afford. How can they afford to just let them sit empty and deteriorate? I pass buy complex being built, bare wood construction, it's been that way for months, no work being done. Someone's made a huge investment and it's just sitting there uncompleted.
Uncle owns a construction company here in the Bay Area, half the houses he does up in the hills (5-10+ million dollar homes) are all empty. Most of the owners are from China and basically do the same just here in the US. We happened to talk to one owner. Literally said it’s way to easy to buy in the US as a foreigner, so he’s just been buying real estate non stop
Peter thiel talks about it a bit in zero to one. Chinese businessmen are making more than ever, but their main priority is getting it out of China because of the government
Now it’s a capitalist society where anyone no matter how rich or how poor can make 7+ figures a year. Not saying there aren’t people born rich and get everything handed to them but. 90% of millionaires in the USA didn’t inherit it.
Actually it is illegal in many areas. What he's saying in the video is only partially correct. People just assume that if someone says it on RUclips it's somehow true.
@@1320_ikimashoWhere is it illegal in the US to own more than one home? Shocked to read that…I don’t care either way, just doesn’t seem like pure capitalism to me. I got mine, you get yours, mentality.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here. They aren't just BUYING the nicer homes, theyre also building new ones, which ALSO screws you. I make 20 dollars an hour. I was born into poverty. It's time for Fire and Pitchforks.
Homes are not piggy banks they’re assets liabilities. Owning that many homes will cost 100s of thousands in just property taxes every year and up keep.
I wonder how the cost of upkeep and property taxes compare to what they would lose by banking their money. Real estate is a hard asset. A bank account is just a numbers game. The dollar amount is no longer backed by gold, so, banking that amount of cash is risky in an unstable economic climate.
@@rbloch66 Anyone with any sense invests that money in a business that will use it to make the company and him more money. It's called investing and it happens in a Capitalist economy. He is right that taxes and regulations create perverse incentives and inefficiencies.
I am not rich but I don't have a problem with the rich spending there money on whatever they want to buy.Just remember the world don't owe you,me or anyone shit in life.If you don't like what they do tuff shit.
When i used to do landscaping....we did alot of old time money historical neighborhood houses...they were used as storge basically 😂😢spend literally 60k every season to change the garden around but nobody was ever there 😢
I've seen almost that in mansions near Minneapolis when I also helped landscaping. I was only assisting moving a large bush just because rich people move large objects around like we would move a shoebox.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here. I make 20 dollars an hour. I was born into poverty. I 100% agree with your statement and I see more of it each and every year. We also do townhouses, old mansions owned by 90 yr Olds who use them as storage units/BBQ hangouts. Inequality is ENTIRELY out of Control. I live in Maine. "Vacation State" = local slaves serving the rich. 🤢 It's time for Fire and Pitchforks.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here. I make 20 dollars an hour. I was born into poverty. It's time for Fire and Pitchforks.
@DeenanTheKemon1 Invite a bunch of homeless people over to the mansion for beers and sandwiches. Then tell them "no one lives here, and no one has been by in a year. Ok have a nice day"
He’s talking about high end properties being bought up which are out of most people’s reach but the fact that homes in all price ranges are being bought up by investors has created a housing shortage for the average working family. False inflation pushes prices up higher and out of reach. Our government has to change the rules on using homes to hoard wealth.
This is the exact reason the Uk housing market is in such a mess. It’s virtually impossible now for anyone below the age of 27 to buy a house in the UK anymore unless you have help from a parent. All because the rich buy the houses for us to rent
You should learn how to get in on the game. Dont wait for governments to change the laws. They're in on it too. Look at Nancy Pelosi. She's raking in money from the stock market. She aint going to be in favor to change laws so she cant make millions every year by trading shares on top of her generous salary and perks.
Buy and live in an RV, or rent cheap, work hard and save capital to build a business that makes six or seven figures a year online after 5-10 years. You will be glad you never wasted money on a home that sucks thousands of dollars a month out of your wallet with minimal return. Outside of equity gain and the ability to cash-out refinance the equity, and tax incentives, it's a waste of time to buy a single family home--it's a massive liability that will suck away at least a third or more of your income in maintenance and upkeep and mortgage payments for decades.
She's on her good side. Looks very beautiful from that angle. Not as much from the other angles. This is mean to say, I know, but it's just another example of how the camera manipulates the audience.
Absolutely right! I’m over in the UK and the elite society has the top echelons of government also shown up. It’s autocracy masquerading as democracy, but you will only ever get so far up the chain.
I understood that with interest rates being so low for so long, the ROI in stocks and bonds was also down so residential properties became investment tools. Glad to finally hear a user friendly term for this practice. Land banking. Sheesh.
@ ALL I hear is negative things/news about the Newsome guy, yet somehow he can get 100’s of millions of votes for him and yet never hear anything positive about this guy…? Strange?
I’m not wealthy but bought a nice 2 acre lot in a mountainous desert neighborhood 10 years ago that I knew was going to be developed with homes well above $500k and sure enough every week someone is asking to buy the land. I’ll never sell it.
As real estate developer. I would raise rents or build outside of your limit. Everyone has bank loan on those properties. Raising property tax means I need to make more profit to meet my bank loan contract or they recall my loan.
@@fronemawoj that’s probably the biggest drawback to this, however I would think that it would have the effect of lowering prices because not as many investors are interested, and it would make owning a home more adorable. Also property taxes is probably the worst tax in our country and it needs to go.
I know a lot of individuals that own multiple houses (some of them to the tune of 10+). Basically none of them buy a house without either renting it or putting it on AirBnB/VRBO/etc. The only people that "don't use a house" are people that use it for one month out of a year for a ski trip, and don't want anyone else living in it for the other 11. Let me stress that is extremely rare, and most people that do that invariably end of switching strategies to a rental or AirBnB within a few years.
I’m not rich but I think there’s a little more to it. You have to pay upkeep and taxes, just routine stuff is a pain. I wouldn’t own extra property that I had to watch out for. If I was that rich, I’d settle for stocks and bonds. They don’t leak, catch fire, get burglarized,get blown down by hurricanes
Not to mention all the corporations buying up all the houses driving up the property value and then forcing home buyers to rent theirs instead if being able to buy that house. We need to make corporations buying houses illegal.
This is a serious issue at all levels. No one wants to lose money since its sern as an investment. So each home has its price raised each sale. After a few times on the market you can see the price balloon well past inflation. This then causes any other sales in the neighborhood yo increase their price. Add in zoning restrictions and not in my back yard folks and you have a housing crissis.
A town near me just passed a law that you cannot buy a house unless you plan on living in it. They also passed another law that allows someone to build an ADU(accessory dwelling unit) in their backyard and can sell it to someone else so they can enjoy home ownership.
It's a joke you can't stop the rich. The rich person wiill lie and say they will leave there. Who is going to check and make sure they really are living there? You can't. Sounds good on paper but not practical.
I'm not a fan of the ADU's unless they continue to apply minimum allowed land zoning - must be a minimum of so many square feet from the house, from the property line, etc. I've seen some ADU's where its right up on top of the next house. safety and mental health issues there. I want my neighbors far enough I can't hear them.
@@youaregoingtolovethisSounds like you've only ever lived in a packed Metropolitan area where people are coming and going constantly. For many parts of the US that's not true. Neighbors know your business (even if from a distance) and watch their neighborhood, especially in much of the Midwest areas I've lived in. You need to get out and about, friend.
The Chinese do this in California. In Palos Verdes Ca. One neighborhood that is affected by the land slides is because of a small water leak over multple years saturating the ground alwhile the homeowner was in his native country never checking the property/home.
Agree with Michael here! I have one property and big house and we use it for paying guests students. It works nicely! Nothing should be vacant: properties, houses etc should be used, rented out and be useful
It’s not some rich dude. It’s Blackrock, Vanguard and other corporations. This needs to be outlawed. Single family homes should reserved for single families. Put a cap on how many homes you can own, especially any business.
Thank-you Mr Saylor. Thank-you, for me to witness- that your not only intelligent, but filled with alot of common sense. . And yes, that is very awful having 1 very rich person, with MANY denied living in a very beautiful 🏡
Blackrock, edge fund and private equity groups own less than 2% of the single family homes in America. They are not the reason people cant buy a house. America is driving and eating out their house if that make sense
@cheezeball6109 Surprise. With interest rates, so low people have to go to real estate or stock market to make money. This drives up the price of assets, which makes the rich richer. Jeff Bezos, thanks you.
@@cheezeball6109 one of the reason this is happening is the global freaks. Investment is global so returns are shrinking real estate with its 3 -6% wasn't so attractive since investors could make 10-15-20% else's were. Next is national debt across the world cash is not a safe thing to have. The greatest reasons are not discussed. Theses are the main reasons driving real estate. Let a couple hot this come and see if there isn't a shift.
I know several boomers who own 10+ real estate properties who RELENTLESSLY raise rents on their tenants, they play hot potato with tenants, in and out, switching them around like chess pieces. Renting to single mothers working 2 jobs and then raising their rent by 150% in 3 years until they get evicted. And then they'll turn around and go "young people just don't want to work anymore/young people are financially irresponsible!" As they take their 50th vacation this year, and haven't worked themselves for 5 decades.
Thats why theres a homeless nightmare. Dont ever think its addiction, mental health, unemployment or that there a housing shortage. Its an empty housing situation.
Yes this is a problem. There should be some kind of law to regulate this. My generation are not able to purchase the homes that our parents were able to purchase. That is a common saying for us today.
Another issue is if you put your money in a bank, legally it is no longer your money. You are now just another creditor of the bank. So many banks in recent past call in ‘creditors’ money when they collapse.
The real problem is the perpetual inflation that the fed creates. Real estate is so appealing because it’s the best protection from inflation. If we didn’t have constant inflation we’d see a lot more rich people investing in fixed income and equities more
Equities do better than real estate. Buying the S&P 500 has done better than the real estate market and better than fixed income. Fixed income factos in expected inflation.
@@rlkinnard It really depends on the time period and type of real estate investment you're comparing. You're talking about an average performance on all types of real estate across many decades but people invest in specific real estate for specific time periods and for specific reasons. For example, some Real Estate Investment Trusts, like IVT and St. Joe, have far outperformed the S&P index over the past 5 years. Our investment properties have a total return of over 320% vs. 88% for the S&P during the same period.
Invest in property to cash-out refinance the equity gain to build businesses that will make six or more figures per year. Turn the properties into datacenters and generate income even without renters there.
@@rlkinnard fixed income doesn’t fully account for expected inflation when the government holds interest rates at low levels. Also the real estate has higher returns when leverage is used. Real estate is also the best hedge for unexpected inflation possibly besides precious metals. You can be reasonably sure the income you receive will grow with inflation
If it makes ya feel any better, the housing market is slowly collapsing. Starting in FL and working its way everywhere. Rich people are getting slammed by it.
In my neighborhood there is a speculator who bought about 3 dozen or more properties thinking that Eli Lilly would expand in the area and he would sell and make a windfall profit. He lets the properties remain vacant and does minimal upkeep, not even securing them against being broken into and stripped by scrappers. The City finally wouldn’t let him buy any more properties at tax auctions and he retaliated by completely razing a 2 block area just north of my house that had perfectly rehab able and some beautiful historic old homes. He also owns a huge amount of land behind me, part of which he leases to the Indiana Railroad for $50,000 per month.
Change the wealthy guy in the story to BlackRock State Street and Vanguard. Now for something completely different.Heard anything about Lahaina Maui lately..
I don't know how this is cost effective. My friend inherited multiple houses and he just tells me about how they're falling apart with nobody to care for them.
You do realize this guy is doing the same thing with bitcoin but worse because he’s leveraging with debt and selling shares to the stupid/poor who think they’re gonna be rich.
@@PokeCatchemGiveemobviously neither form of wealth preservation is unlawful as they both operate within the rules of the present system. However, Saylor's option (using fiat debt to buy bitcoin) offers a transition towards a more intelligently designed monetary system for the future betterment of humanity. This may seem absurd on the surface, but there's much more here than meets the eye.
This is why housing should not be allowed to be purchased unless it's being lived in for a minimum amount of the year. Local governments should cap the amount of housing a single person, trust, or family can purchase. Example, 2 homes. The 3rd home purchased should be required to be lived in by the owner, or be rented below market rate for the area to a family. First time home buyers should also have priority over investors when it comes to housing. The real estate scoop being done by all these massive conglomerates and ultra wealthy individuals is destroying pretty much every major city in America. Pretty soon it's going to be just like NYC, China, Mexico, etc... Just big empty homes. Big empty buildings, near by shit hole rentals, shanty towns, and apartment buildings where everyone gets a tiny box to sleep in at night before returning to their job to pay for it.
I've always felt that their should be a limitation of how many homes an individual can own and you shouldn'tbe able to own land or a business unless you live here and are a citizen. Land is one thing you just can't create and there's only so much of it available so hoarding it shouldn't be allowed.
Exactly! Same principle. Accumulating all the cyberspace real estate ( digital gold and all his other analogies) he is literally trying to buy it all up. He is the digital equivalent of the eastern shore property owner.
A problem across the world. Property prices more than they should be making it impossible for young, new buyers to afford. When less than 10% of the world's population own 90% of its finances, yes the system is broken beyond repair.
I would like to think that if I had the money to do that that I wouldn't. But if I did I would also like to think that I would donate a lot of money to my favorite charities.
Eventually none of it is worth anything because no one has the capacity to buy anymore rendering the disappearance of demand and the loss of all actual value. Value only exists within the context of demand.
There's enough rich dudes buying 27 houses to supply the demand my friend. Add in BlackRock and bill gates and your lack of demand theory is absurd I'm afraid.
There will always be a demand for living quarters. And manufacturing a shortage has driven prices up, not down. Your logic mirror trickle down economics. Nonsense.
@@kld70 Interesting perspective worth considering. You're right housing is a basic human need. This is really where the problem lies - it's being treated/used otherwise. My comment is more a critique of wealth inequality and speculative economics. Hoarding resources (like housing) at the top creates systemic inefficiencies and depletes value for the broader population. Unlike trickle-down economics, which presumes shared benefit, I’m trying to underscore the collapse of value when access is restricted. In any case, this topic is definitely worthy of these types of conversations. (edited for spelling)
I like how he casually throws in unchallenged “facts” like the house would be half as much if rich guy didn’t buy these houses. lol ok do you have any idea the astronomical number of houses that exist in the country vs the infinitesimally small fraction of the population that buys houses in cash and keeps them empty? It’s completely negligible. It wouldn’t even register as a percentage in housing cost.
If you guys thought it out. You would understand that the entity that is buying these properties in a particular area can keep raising the buyers price. Thus raising the other properties value by default. Example they by 10 houses In one year for 600000zThen comeback the next and buy ten the next year at 800000. Then next year they buy one for 1.3 because it’s hot property area. That’s why the houses would be worth half as much.
Chuck Missler said one of the worse things you could do is have your house paid off. There are specialist that look through public record to see whose houses are paid off. I bought his book, “Weathering the coming storm.”
We are doing the same thing small scale on the western shore of Maryland. But we also have long term renters that we hand picked and have never raised the rent on.
This is literally why NYC is impossible to live in for even those of us who were born and raised here. It’s not the high immigration population cause that is NYC’s identity. (People often forget the Statue of Liberty and like everyone’s ancestors coming here). It’s not even the higher taxes. We can cope since we have such great infrastructure in comparison with rest of the country. It is the real estate. The real estate has become unbearable.
That’s nonsense …. There is no shortage of land or construction materials on planet earth … simply build more houses …. Problem is government permits and fees …. If governments allow building more .. there wouldn’t be a problem
Hedge funds and private equity have distorted the U.S. housing market especially in the sunbelt. They have invested heavily into single family homes and apartment complexes. High interest rates keep prospective homebuyers out of the housing market. Young people trying to buy a home now are converted into indentured servants unable to save enough to put a decent down payment on a 400k - 500k starter home in Florida.
That should be illegal!!! I feel like, everyone should be able to easily afford a main home and a vacation home, and maybe a plot of land with limited amount of acres. After that, it should get progressively more difficult to attain, like people need to explain why they need it and be strictly held to certain laws to keep them from abusing that.
Isnt basically what every Average Joe goal is ? To own a house as a piggybank for their retirement ? I don't want the responsabilities of owning a house and all the crazy taxes and repairs associated with that. 😢 Around here in our beautiful Canada, almost retired people are losing their houses because the government keeps rising the taxes to the point they can't live there anymore: it is a taxeviction
Think that’s why one guy does crypto and metals. Forced savings always good but property is getting less desirable under the last administration EV and new vehicles and spending really raises our cost elsewhere hope we see a return at some point. We need better thought out plans by government or have them step out of the way. Neat ideas but not way they go about them.
The avg Joe lives in his house, which assures shelter when he retires. Property values unfortunately increasing his taxes means a windfall if he downsizes. He stubbornly remains alone, unable to upkeep of the oversized mansion because he's saving it as a legacy to his great memory for the kids. They'll just flip the property for the land and demo the outdated, decrepit house. They'll drop a cool million into their already well funded portfolio, childhood memories be damned. The time to sell was when his kids had grandkids, when they really needed it. But he didn't give it up because he knows his selfish, infighting, greedy brats would just dump him in a nursing home and ignore him in their busy lives.
Nah he says the rich should put their money into bitcoin, as he reckons its a much better, and easier investment long term(no house to pay someone to upkeep). This will free up more houses for people to buy and live in.
Whats worse is that builders will focus on the high end homes, because they make significantly more than the construction of affordable average income homes.
Of course by definition that's the case but you can still make a hefty profit on high volume low margin goods. We have significant barriers to building in the US. In aggregate the landowners which are the homeowners are not comfortable with affordable units. The people that inhabit these units are low to medium income workers, disabled people, people on social programs, families, and young people starting their life. So the proposition to home owners is ... are you okay with poor people moving in and the associated traits of poverty? The resounding answer across the entire US is a resounding no. The local government that was elected in recently near me is now a majority republican. They ran on a platform of no new developments (I'm not joking either).
The people you describe as ‘poor’ are about 60% of the people in this country. You’ve literally described my working-class neighborhood. And none of us had problems buying homes until REITs became mainstream. Try again.
@@kld70 I don't think most blame goes to REITs. There is an strong anti-big sentiment right now ... probably impart due to the rebellion against the elites. It's true that Y/Y when you look at investors purchasing SFHs that contributes anywhere from an estimated 10% - 18%. However, scope out a bit and realize that of the current housing stock REITs own anywhere between 1%-3%. In some specific areas that have seen a lot of growth specifically the sunbelt it has affected those markets more. But this doesn't really account for much in the aggregate. An extremely concerning metric is housing starts, housing completes, housing vacancies, housing permits, and then a good one which is housing starts relative to population. After the 07/08 crash housing really never recovered. The picture that is painted is that housing fell off a cliff and never really quite recovered. Additionally, when you look at the housing starts relative to population ... just eyeballing the graph comparing a high in the 1970s to where we are now it's down like 300% relative to that time period. So to conclude my argument, I think the answer is more banal than a greedy corporation buying everything and sucking the money out of the economy. It's really Americans like the character of their neighborhood ... they don't want traffic, they don't want new developments, they want everything to stay the same. This is at the cost of everyone else who isn't part of the big club. If we removed a lot of restrictions residential zoning and slow permitting processes we'd have this problem fixed so fast your head would spin.
@@kld70 We have a supply demand issue. Your stating that demand is being hogged up by all the REITs. That simply is not true. There's the other 95% of the pie that needs to be examined as a large factor. The stats show that of the 23M rental units roughly 250k - 350k are owned by REITs or institutional investors ... the other rental units are mom and pops. The REITs constitute about 1-3% of the total SFH ownership. In places such as the sunbelt there has been a larger contribution in terms of rental purchases by these companies. But these stats are really peanuts. Take a look at the Fred stats. A good one is building starts relative to population growth. Just eyeballing the graph we're down something like 300% since the 70s. Additionally, you have housing inventory which has trended downwards, building starts, permits, completions all showing a direct of less building. Policy makers have absolutely commented on this which has to do with the zoning and permitting process. Ask anyone that has new development around them what they think about. They'll say it'll change the character of the neighborhood, they'll be more traffic, the schools can't handle it, we're going to go broke. For whatever reason Americans aren't happy and they're blaming the rich and famous for their issues. The people they really should be blaming is themselves. The reason we're struggling is because of every single homeowner in aggregate votes their interest which is to have very slow building or no building at all.
Be smart, get your gains, once the government is done squeezing blood from a stone, their coming for crypto. Trump recently talking about becoming the crypto capitol of the world. Bitcoin recently went up substantially, they're already influencing crypto, who knows how deep they're already in.
The real trickle down economics was in the 1950’s and 1960’s US. Top marginal income tax was 90%. If you were rich you had to spend the money on or the federal government would spend it for you. That’s why basically all loan interest and credit card interest was deductible for individuals.
If property taxes were higher, prices of houses would fall as people can't afford both taxes and morgage. It would also disincentivice rich people from hoarding houses without anyone living in them. The tax revenue could be used to lower income taxes or other taxes that affect the poor/common man.
I spend time in the exact part of Maryland he is talking about every year and it’s 100% true. The house I stay at was the house for a mistress of a very wealthy man 🤣
We have the same thing here on a smaller scale. Owners with dozens of old properties they do the bare minimum on to rent them and homes owned by those who live out of state that stay empty and eyesores in the town. The grass grows two feet high and they are boarded up.
Yes and this need to be ended in the USA. At least until the housing shortage is fixed. Make owners of multiple properties sell their excess by a certain date.
This is so true! Costco owns towns with lots of homes that are literally deserted....the entire town is! It's rediculous. A perfect picture of greed. Remember, the love of money is the root of all evil.
Then, government retort should be to double or even triple the property taxes of residential homes that these people don't live in or reasonably rent out if it's more than 2 or 3 properties. That would fix that nonsense quickly.
There are indeed some absolutely beautiful homes on the Eastern Shore in Maryland. I'm from MD and have driven by all these beautiful homes on my way to the beach for a summer vacation since my childhood. Never thought they might be empty.
This is exactly what has happened here in an American community in mexico. Several wealthy people have bought 4-5 even more houses on the beach and never use them. It's disturbing. Now just in a few years to pick an ocean front home went from 150,000 to a million.
This makes a lot of sense, it does keep property prices artificially high.
Thank you for pointing that out. People don't make the connection and just say oh no they CAN it's their right. But it screws the rest of the people bc that kind of money distorts the market. Meanwhile, home prices have doubled in 5 years.
This is exactly what Blackrock has done to the entire real estate industry in America
You do realise that it is “rich guys” who give them money to do this. Wake up.
@@dumpsterG 66% of Blackrock's assets come form retirement funds coming form average workers, and a significant percentage of the remaining assets come from middle-class investors.
It's bigger than that, the wars were to replace leaders that would comply with globalisation if USA capitalism, increased property prices, increase debt cost, but up all the property as people can't pay the mortgages. Most countries have had property development for this reason. Eventually though there will be no need to have empty properties when only 1 or few own them all or BTC solves this, stay positive
You could do the same and become wealthy..or do you prefer to become wealthy and then buy houses?
Blackrock is a public company. You can easily buy some of the stock instead of crying.
I heard a great quote many years ago:
"If you die too rich..., you've lived too poorly...." Trying to live by it by helping when I can.
That's a stupid saying because nobody knows when it's time to.
If you die early you might still have your life savings and "die rich". If you have spent it to early, you might starve to death.
@philippm8093......If you raise your vibration while you are existing in this realm/reality, you'll understand the quote.
It's not about anything physical/something that you can touch & or FEEL.
PEACE LOVE LIFE LIGHT AND HAPPINESS
My bad 8039
I could use some help.
@@caseycurtis7497Jesus loves you. He will help
We live in a broken corrupt system, and it has to change. Every hardworking American should be able to afford to buy a nice house and have the opportunity to live the American dream.
you CAN.the system isn't corrupt buddy, you're just shaking your fist at a system you've not educated yourself in. this guy is a idiot and hypocrite. he does the same thing with BTC. he hordes bitcoin.. why doesn't he share his bitcoin with someone like you?😂
Rich people buying an expensive home in Eastern Maryland has nothing to do with the average Joe trying to buy a home and raise a family.
@@1320_ikimashoIt has everything to do with it... because the rich people buy anything that has value, not only expensive homes. This makes it unaffordable for an average family to make ends meet while the rich dont know how to spend the money they already have.
It does when those angry Americans want there money back
@@1320_ikimasho Corporations should not own property. Only people have God given rights. Corporations have no rights therefore they have no property rights.
We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
Completely agree! Allowing homes (SFR’s) to be used as commodities and investment vehicles is wet cost the last great real estate crash and it is what has ruined the American dream for American families now and our children into the future.
Poor lending practices are what caused the last market crash.
@@Dbb277-2 Exactly right. Legislation mandated lenders to give loans to people who couldn't afford them. Not only did it create excessive risk in the market, but it also drove up prices by artificially increasing money supply. And that just compounded the risk factor.
Lending practices was ordered by Obama implemented by Como.
Lending practices caused by liberal policies that told vanks they had to lend to risky home buyers from disadvantaged minority groups and other poor people. Banks then bundled all those risky loans into junk bonds and then sold them. If government had stayed out of things and not forced the banks to make those loans the crash would not have happened. @Dbb277-2
Rich people investing in real estate is not what caused the 2008 crash. It was banks being forced to make mortgages to people who were not credit worthy and a large number of them defaulted. Clinton leaned on the banks and told them if they didn’t make the loans then they would be accused of racism and sexism. So they made the loans and the people defaulted which is why the banks didn’t want to loan it in the first place.
Democrats Barney Frank and Chris Dodd started a government program that bought the loans from the banks and then sold them in the stock market as mortgage backed securities. People invested in them for retirement in their 401k and IRA’s. It was completely the fault of democrats. Never let a democrat be in charge of anything or it will be destroyed.
In the Philippines, it is illegal for foreigners to buy real estate. Only citizens of the Philippines are allowed to buy real estate property.
They're selling property in the Philippines from the US
You can buy RE but not the land.
That’s not true, my American friend just purchased a penthouse in Cebo.
Another Retired Air Force guy built a house in the Philippines. You don’t know what you’re talking about.
Anyone can purchase property in the Philippines. What you meant to say, you have to be a Filipino to own the land.
That's how it should be in every country.
@@Retired-001 right, you can own a condo but not a lot.
Also, people forget that it's also been a way for foreigners to launder money
Yeah I'm pretty sure one of the biggest houses in London second to the Windsor castle is owned by a Russian oligarch
and bitcoin have not? this r€tàrd holds like 330k BTC, using his dumbass arguement why is he holding more than 1?
With the help of the USA banking and government 😂😂😂😂 o by the way the USA citizens don't laundry money right
like politicians in Africa who steal our money and buy big houses abroad
Like the dollar didnt used to launder money for hundreds of years now…
I am not rich, but I paid off my home and vehicles outright since 2020. I feel rich because I work on my terms. I'm not chasing money like a slave. I'm free! I love life now. Let these rich people chase money with greed. When we die, we all go away and leave the money here. I'd rather enjoy my family and freedom while I am alive. To each their own. It's Monday morning, and im enjoying my coffee ☕️ at home. Nice and cozy. 😊
Can you tell me your secret? I want to be like you
🙌🙌👍👍
Congratulations friend! You’ve beaten the rat race💪🏻🔥 this is the goal everyone should have as an American living in a world where we are largely overworked and underpaid!
@@crepeitup Learn to be happy living below your means and you'll be a wealthy person. If you always want more, you'll never be happy.
@@RedondoBeach2 I just want to enjoy a coffee on a Monday and not work
Absolutely! And it isn't just a rich dude. There are corporations doing that fool. It's disgusting and needs to be made illegal, whether it is the rich dude or corporations.
I don’t care about the rich dude, we can’t tell individuals how to spend their money but I am complete against corporations of any kind owning housing. I wish they didn’t even own apartments to rent it should all be mom and pops.
@@mumbles215Yes. Corporations should not own property. Only people have God given rights. Corporations have no rights therefore they have no property rights.
We need to go back to a family based economy instead of a corporate based economy. In a free market there are no corporations because the government doesn’t charter corporations in a free market.
Hint: it's rarely an individual rich dude.
Corporations are just rich people. Know your enemy.
@@beng4647drops mic. Ptssss
Thanks for explaining the the broken unfair property system
"A perverse incentive and a distorted economy". MOST PROFOUND ANALYSIS OF THE ECONOMIC CONDITION.
we want to be a capitalist society but complain about capitalism. which one is it
Nothing wrong with the US economy. Best in the world!!!
@@jaimegarcia-xm3llhousing cost is absolutely insane and this is one of the reasons why.
Boomers playing keep away with housing on their children and grandchildren, just so they can have long term capital. These people are selfish and don't care if Millennials don't have a place to start a family.
@@jaimegarcia-xm3llA corporate based economy is the best, in the world? No, crony capitalism is not the best.
In Italy you can’t do that! First house is not taxed and has no property taxes. Second third fourth. Tax up the wazoo!!!!!!
Well, that means you can still do it, but you will be paying more in taxes. However, if you have the money to buy up so many properties you aren't likely worried about the taxes.
@@soonerdad3Wrong. It makes a difference.
@@scowlingmongrel Dude, you cannot stop property owners from selling their property to legal buyers, the only thing the government can do is prevent foreigners from purchasing property.
@@soonerdad3they just create 27 companies and put the houses in each one. Not sure if that would work everywhere, every country has different laws
13 million “new” ppl brought over needing affordable homes devoured over 3 years . That’s millions - compared to blkrck has 55k houses in thise portfolio
In Toronto if you were to do that you would be subjected to a “Vacant Tax” which is calculated based on the assessed value of the property. You are required to make a annual declaration to the city by a certain deadline date.
@@kevinm5871 that oppressive. We buy a home with our hard earned money and pay massive property taxes. Which in this cases those taxes do not benefit the home owner. That socialism 101 you can keep Canada
@@Mark-if1yuNope, it keeps you from hoarding and thereby oppressing people who want to actually *live* in a house. There's no good reason to just have a vacant house that you never use and won't let anyone else use either.
This guy is absolutely correct..
That's exactly true!. They're also investing their money and building numerous high-rise apartment complexes no-one can afford to rent 😢. Very sad
Yes, they are empty. The built allot of townhouses too, that no one can afford. How can they afford to just let them sit empty and deteriorate? I pass buy complex being built, bare wood construction, it's been that way for months, no work being done. Someone's made a huge investment and it's just sitting there uncompleted.
@@margaretwince2748write offs
Uncle owns a construction company here in the Bay Area, half the houses he does up in the hills (5-10+ million dollar homes) are all empty. Most of the owners are from China and basically do the same just here in the US. We happened to talk to one owner. Literally said it’s way to easy to buy in the US as a foreigner, so he’s just been buying real estate non stop
Lol hating on foreigners while Blackrock is robbing your future is wild.
Peter thiel talks about it a bit in zero to one. Chinese businessmen are making more than ever, but their main priority is getting it out of China because of the government
Damn shame how we have let folks from around the world do what they cannot do in their own country.
It's called democracy 😂 blame yourselves because you elected the government 😂 freedom and equality 😂 bla bla bla
Conservatives and neo cons... they are parasites.@@MoneyMachine-p2w
It’s a giant monopoly game. Once you start to win, it’s over, you won’t. Money makes money
What about property taxes
You do it for the deductions… depreciation… cost segregations
This is word salad and this man is a bot I think
Now it’s a capitalist society where anyone no matter how rich or how poor can make 7+ figures a year. Not saying there aren’t people born rich and get everything handed to them but. 90% of millionaires in the USA didn’t inherit it.
Tax deductible if rented out@@jrcarrera9970
THIS SHOULD BE ILLEGAL.
Actually it is illegal in many areas. What he's saying in the video is only partially correct. People just assume that if someone says it on RUclips it's somehow true.
Having money and buying real estate should be illegal?? Don’t hate the player hate the game, even better get in on the game.
@@1320_ikimashoWhere is it illegal in the US to own more than one home? Shocked to read that…I don’t care either way, just doesn’t seem like pure capitalism to me. I got mine, you get yours, mentality.
Class envy much?
Exactly what’s happening in Puerto Rico right now.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here. They aren't just BUYING the nicer homes, theyre also building new ones, which ALSO screws you.
I make 20 dollars an hour. I was born into poverty.
It's time for Fire and Pitchforks.
Where is this?
Start your own landscaping business. You may end up owning one if the properties someday
The guillotine worked in France back in the day.🤢
Who Do You Think, Has Been Burning The Forests, In The Hollywood Hills.!
Lmao.
💫
@@andreesandahl300 that’s not the approach. There should be better laws against home hogging / laundering.
Homes are not piggy banks they’re assets liabilities. Owning that many homes will cost 100s of thousands in just property taxes every year and up keep.
Depreciation
I wonder how the cost of upkeep and property taxes compare to what they would lose by banking their money. Real estate is a hard asset. A bank account is just a numbers game. The dollar amount is no longer backed by gold, so, banking that amount of cash is risky in an unstable economic climate.
@@rbloch66 Anyone with any sense invests that money in a business that will use it to make the company and him more money. It's called investing and it happens in a Capitalist economy. He is right that taxes and regulations create perverse incentives and inefficiencies.
I am not rich but I don't have a problem with the rich spending there money on whatever they want to buy.Just remember the world don't owe you,me or anyone shit in life.If you don't like what they do tuff shit.
That makes me pity poor Zelensky.
A TH used to sell for $350K in Boca Raton a few years ago are now $800K. Insane!!
I used to work near 441/glades. I miss it sometimes.
When i used to do landscaping....we did alot of old time money historical neighborhood houses...they were used as storge basically 😂😢spend literally 60k every season to change the garden around but nobody was ever there 😢
I've seen almost that in mansions near Minneapolis when I also helped landscaping. I was only assisting moving a large bush just because rich people move large objects around like we would move a shoebox.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here.
I make 20 dollars an hour. I was born into poverty. I 100% agree with your statement and I see more of it each and every year. We also do townhouses, old mansions owned by 90 yr Olds who use them as storage units/BBQ hangouts. Inequality is ENTIRELY out of Control. I live in Maine. "Vacation State" = local slaves serving the rich. 🤢
It's time for Fire and Pitchforks.
I am a landscaper. I mow the lawns of mega mansions and million dollar vacation homes nobody even visits once all year. The vast majority of the lawns I mow all summer are seen by nobody, because the owners never even visit once all season. These vacation homes are three times the size of most people's regular houses, and very very modern and expensive. Cobblestone walkways, in ground pools, in ground hot tubs, tennis courts, gargantuan luxury style fire pits, bus-sized brand new RVs that never even move, lines of 4 wheelers and dirt bikes, classic cars, you name it, they got it, and they don't even live there, these are secondary fun-houses to them. These vacation homes would blow your mind and 1000 new ones pop up every single year here.
I make 20 dollars an hour. I was born into poverty.
It's time for Fire and Pitchforks.
@DeenanTheKemon1 Invite a bunch of homeless people over to the mansion for beers and sandwiches. Then tell them "no one lives here, and no one has been by in a year. Ok have a nice day"
@@DeenanTheKemon1😮 U have 2 give yourself a lucrative raise. That's just not fair. You deserve more than that.😊
Wow - this gentleman is completely spot on with his statements here. Great stuff. 👍
He’s talking about high end properties being bought up which are out of most people’s reach but the fact that homes in all price ranges are being bought up by investors has created a housing shortage for the average working family. False inflation pushes prices up higher and out of reach. Our government has to change the rules on using homes to hoard wealth.
This is the exact reason the Uk housing market is in such a mess. It’s virtually impossible now for anyone below the age of 27 to buy a house in the UK anymore unless you have help from a parent. All because the rich buy the houses for us to rent
You should learn how to get in on the game. Dont wait for governments to change the laws. They're in on it too. Look at Nancy Pelosi. She's raking in money from the stock market. She aint going to be in favor to change laws so she cant make millions every year by trading shares on top of her generous salary and perks.
In 1900 95% of us rented our homes, We are headed back there.
Buy and live in an RV, or rent cheap, work hard and save capital to build a business that makes six or seven figures a year online after 5-10 years. You will be glad you never wasted money on a home that sucks thousands of dollars a month out of your wallet with minimal return. Outside of equity gain and the ability to cash-out refinance the equity, and tax incentives, it's a waste of time to buy a single family home--it's a massive liability that will suck away at least a third or more of your income in maintenance and upkeep and mortgage payments for decades.
Natalie has very good posture and she asks intelligent questions.
Could you be more condescending please
Did you see the guy too? 😂
Yeah, I was thinking the same thing,man😉😉😂
She's on her good side. Looks very beautiful from that angle. Not as much from the other angles. This is mean to say, I know, but it's just another example of how the camera manipulates the audience.
She is talking to a billionaire she is trying to make her chest stick out in case he is interested.😂
The interviewer is properly dressed. This is how you hook a rich man. It worked a few times on me.........until they found out I have no money.
U call that properly dressed.
@@asadm9522 What do you suggest?
You got to see the behind of them, at least
Your poon prolly just stank :(
@@ruud4508 yes. My pathetic life does have a few moments in the past to make me smile. 🙂
Zero chance of fixing this no matter who’s in office. Rich guys make the rules so they can rule the game.
Absolutely right! I’m over in the UK and the elite society has the top echelons of government also shown up. It’s autocracy masquerading as democracy, but you will only ever get so far up the chain.
*rich people
Oh there's a way...citizens just don't have the 🏀s to do it
I understood that with interest rates being so low for so long, the ROI in stocks and bonds was also down so residential properties became investment tools. Glad to finally hear a user friendly term for this practice. Land banking. Sheesh.
I know who do this exact same thing here on the west coast, because they don’t want neighbors or anyone above them…
Australia is one big housing ponzi scheme
It’s disgusting. And, Newsom could do something about it. But he just bought a 9 mil mansion he doesn’t really need.
@ ALL I hear is negative things/news about the Newsome guy, yet somehow he can get 100’s of millions of votes for him and yet never hear anything positive about this guy…? Strange?
I’m not wealthy but bought a nice 2 acre lot in a mountainous desert neighborhood 10 years ago that I knew was going to be developed with homes well above $500k and sure enough every week someone is asking to buy the land. I’ll never sell it.
Michael Jackson Prince used those same futuristic words 😂
They're being patient.. sell
Smart
A way to help mediate this is to not have property taxes on personal residence, and raise taxes on rentals and commercial property.
That doesn't work either. Doesn't solve the shortage and only inhibits home building. ✌🏽
The problem isn’t that the people in charge don’t know what to do, it’s that they’re incentivized to help the rich at the expense of everyone else.
As real estate developer. I would raise rents or build outside of your limit. Everyone has bank loan on those properties. Raising property tax means I need to make more profit to meet my bank loan contract or they recall my loan.
Raise taxes on rentals = raise rent payments on renters.
@@fronemawoj that’s probably the biggest drawback to this, however I would think that it would have the effect of lowering prices because not as many investors are interested, and it would make owning a home more adorable. Also property taxes is probably the worst tax in our country and it needs to go.
China has been doing this for decades.
I know a lot of individuals that own multiple houses (some of them to the tune of 10+). Basically none of them buy a house without either renting it or putting it on AirBnB/VRBO/etc. The only people that "don't use a house" are people that use it for one month out of a year for a ski trip, and don't want anyone else living in it for the other 11. Let me stress that is extremely rare, and most people that do that invariably end of switching strategies to a rental or AirBnB within a few years.
Pretty crazy seeing my neighborhood pop up in the b roll footage while I’m just randomly scrolling RUclips
I’m not rich but I think there’s a little more to it. You have to pay upkeep and taxes, just routine stuff is a pain. I wouldn’t own extra property that I had to watch out for. If I was that rich, I’d settle for stocks and bonds. They don’t leak, catch fire, get burglarized,get blown down by hurricanes
Not to mention all the corporations buying up all the houses driving up the property value and then forcing home buyers to rent theirs instead if being able to buy that house. We need to make corporations buying houses illegal.
This is a serious issue at all levels. No one wants to lose money since its sern as an investment. So each home has its price raised each sale. After a few times on the market you can see the price balloon well past inflation. This then causes any other sales in the neighborhood yo increase their price. Add in zoning restrictions and not in my back yard folks and you have a housing crissis.
A town near me just passed a law that you cannot buy a house unless you plan on living in it. They also passed another law that allows someone to build an ADU(accessory dwelling unit) in their backyard and can sell it to someone else so they can enjoy home ownership.
Until the houses have more supply than demand. It'll pass another law
It's a joke you can't stop the rich. The rich person wiill lie and say they will leave there. Who is going to check and make sure they really are living there? You can't. Sounds good on paper but not practical.
Where is this … what a great idea
I'm not a fan of the ADU's unless they continue to apply minimum allowed land zoning - must be a minimum of so many square feet from the house, from the property line, etc. I've seen some ADU's where its right up on top of the next house. safety and mental health issues there. I want my neighbors far enough I can't hear them.
@@youaregoingtolovethisSounds like you've only ever lived in a packed Metropolitan area where people are coming and going constantly. For many parts of the US that's not true. Neighbors know your business (even if from a distance) and watch their neighborhood, especially in much of the Midwest areas I've lived in. You need to get out and about, friend.
The Chinese do this in California. In Palos Verdes Ca. One neighborhood that is affected by the land slides is because of a small water leak over multple years saturating the ground alwhile the homeowner was in his native country never checking the property/home.
They are buying up the whole of Montgomery county in Maryland.
Agree with Michael here! I have one property and big house and we use it for paying guests students. It works nicely! Nothing should be vacant: properties, houses etc should be used, rented out and be useful
FINALLY!! Someone gets it and has the balls to expose it!!
HAWAII SPOT ON
👆💯
It’s not some rich dude. It’s Blackrock, Vanguard and other corporations. This needs to be outlawed. Single family homes should reserved for single families. Put a cap on how many homes you can own, especially any business.
Should be but it will never get through Congress. We're fd.
Bitcoin just began fixing this
It's both.
So Larry Fink needs a of space innit.
The cap is 16 and it will never go down . Only up .
Can't do that in upstate ny the land and school taxes would ruin any gains the first few years.
Thank-you Mr Saylor. Thank-you, for me to witness- that your not only intelligent, but filled with alot of common sense. . And yes, that is very awful having 1 very rich person, with MANY denied living in a very beautiful 🏡
Boomers have done this everywhere this is not just a black rock issue
I know....I know a lot of people that do it. It is their rental property.
Blackrock, edge fund and private equity groups own less than 2% of the single family homes in America. They are not the reason people cant buy a house. America is driving and eating out their house if that make sense
@cheezeball6109 Surprise. With interest rates, so low people have to go to real estate or stock market to make money. This drives up the price of assets, which makes the rich richer.
Jeff Bezos, thanks you.
@@cheezeball6109 one of the reason this is happening is the global freaks. Investment is global so returns are shrinking real estate with its 3 -6% wasn't so attractive since investors could make 10-15-20% else's were. Next is national debt across the world cash is not a safe thing to have. The greatest reasons are not discussed. Theses are the main reasons driving real estate. Let a couple hot this come and see if there isn't a shift.
I know several boomers who own 10+ real estate properties who RELENTLESSLY raise rents on their tenants, they play hot potato with tenants, in and out, switching them around like chess pieces. Renting to single mothers working 2 jobs and then raising their rent by 150% in 3 years until they get evicted. And then they'll turn around and go "young people just don't want to work anymore/young people are financially irresponsible!" As they take their 50th vacation this year, and haven't worked themselves for 5 decades.
Thats why theres a homeless nightmare. Dont ever think its addiction, mental health, unemployment or that there a housing shortage. Its an empty housing situation.
Bingo
He’s not wrong.
Same in Oz but many are foriegn 'investors' who think nothing of dropping 1-2mil on a simple residential property(prices are absurd here now).
Yes this is a problem. There should be some kind of law to regulate this. My generation are not able to purchase the homes that our parents were able to purchase. That is a common saying for us today.
Another issue is if you put your money in a bank, legally it is no longer your money. You are now just another creditor of the bank. So many banks in recent past call in ‘creditors’ money when they collapse.
FDIC
@@juliefuller4556 its a big difference if you owe the back credit or they owe you money. Get a grip
That's cold blooded, Greed is crazy in a lot of humans
The real problem is the perpetual inflation that the fed creates. Real estate is so appealing because it’s the best protection from inflation. If we didn’t have constant inflation we’d see a lot more rich people investing in fixed income and equities more
Equities do better than real estate. Buying the S&P 500 has done better than the real estate market and better than fixed income. Fixed income factos in expected inflation.
@@rlkinnard It really depends on the time period and type of real estate investment you're comparing.
You're talking about an average performance on all types of real estate across many decades but people invest in specific real estate for specific time periods and for specific reasons.
For example, some Real Estate Investment Trusts, like IVT and St. Joe, have far outperformed the S&P index over the past 5 years. Our investment properties have a total return of over 320% vs. 88% for the S&P during the same period.
@@eddiemalvin certainly true that each category of investment will have periods of over performance.
Invest in property to cash-out refinance the equity gain to build businesses that will make six or more figures per year. Turn the properties into datacenters and generate income even without renters there.
@@rlkinnard fixed income doesn’t fully account for expected inflation when the government holds interest rates at low levels. Also the real estate has higher returns when leverage is used. Real estate is also the best hedge for unexpected inflation possibly besides precious metals. You can be reasonably sure the income you receive will grow with inflation
If it makes ya feel any better, the housing market is slowly collapsing. Starting in FL and working its way everywhere. Rich people are getting slammed by it.
Most people cannot afford an estate. However this guy is right at a 100,000 foot view.
Ask him about tax evasion strategies and cooking books
You mean, how capital assets like real estate and stocks are prime vehicles for money laundering?
The kicker is that many are multiple passport holders, etc.
of course they are .
Bingo
A house is a money-pits of costs and expenses. There's much more to this than this clip is saying.
He’s not lying… land banking is real and it’s horrible for the housing market
In my neighborhood there is a speculator who bought about 3 dozen or more properties thinking that Eli Lilly would expand in the area and he would sell and make a windfall profit. He lets the properties remain vacant and does minimal upkeep, not even securing them against being broken into and stripped by scrappers. The City finally wouldn’t let him buy any more properties at tax auctions and he retaliated by completely razing a 2 block area just north of my house that had perfectly rehab able and some beautiful historic old homes. He also owns a huge amount of land behind me, part of which he leases to the Indiana Railroad for $50,000 per month.
Vultures like that need to get reminded of their own mortality more often. The arrogance is wild.
Change the wealthy guy in the story to BlackRock State Street and Vanguard. Now for something completely different.Heard anything about Lahaina Maui lately..
I don't know how this is cost effective. My friend inherited multiple houses and he just tells me about how they're falling apart with nobody to care for them.
This is such an interesting point, shows how broken the system is. BTC and MSTR for the win 🎉
You do realize this guy is doing the same thing with bitcoin but worse because he’s leveraging with debt and selling shares to the stupid/poor who think they’re gonna be rich.
@@PokeCatchemGiveemobviously neither form of wealth preservation is unlawful as they both operate within the rules of the present system. However, Saylor's option (using fiat debt to buy bitcoin) offers a transition towards a more intelligently designed monetary system for the future betterment of humanity. This may seem absurd on the surface, but there's much more here than meets the eye.
@@PokeCatchemGiveemhe IS buying up loads of bitcoin, but it's different because that doesn't stop people affording a home.
This is why housing should not be allowed to be purchased unless it's being lived in for a minimum amount of the year. Local governments should cap the amount of housing a single person, trust, or family can purchase. Example, 2 homes. The 3rd home purchased should be required to be lived in by the owner, or be rented below market rate for the area to a family.
First time home buyers should also have priority over investors when it comes to housing.
The real estate scoop being done by all these massive conglomerates and ultra wealthy individuals is destroying pretty much every major city in America. Pretty soon it's going to be just like NYC, China, Mexico, etc... Just big empty homes. Big empty buildings, near by shit hole rentals, shanty towns, and apartment buildings where everyone gets a tiny box to sleep in at night before returning to their job to pay for it.
I've always felt that their should be a limitation of how many homes an individual can own and you shouldn'tbe able to own land or a business unless you live here and are a citizen. Land is one thing you just can't create and there's only so much of it available so hoarding it shouldn't be allowed.
Wow Saylor keeps telling like it is!
Thats why you are doing the same thing with bitcoin. You are buying all of it so the price goes higher
You can’t compare the need for shelter to digital currency
Bingo. The thing is a high Bitcoin price is not a negative thing. High housing prices are a very bad thing.
100% Agree. When you consider the fact that there's a finite amount of Bitcoin but you can add to the housing supply, it becomes even more ironic.
@@LoveIstheAnswer696 You also can't compare the need for shelter to beautiful waterfront mansions either.
and he continues to buy, even at 97k.
that should tell you something.
So how will this be different when the all the rich buy BTC - like the homes - and the poor have none?
You had an opportunity to buy it for cheap
You don’t need BTC to live your life. But everyone needs a home.
F Bitcoin . only used by criminals .
You can own a fraction of a Bitcoin. You can't own a fraction of a home to live in.
Exactly! Same principle. Accumulating all the cyberspace real estate ( digital gold and all his other analogies) he is literally trying to buy it all up. He is the digital equivalent of the eastern shore property owner.
A problem across the world. Property prices more than they should be making it impossible for young, new buyers to afford. When less than 10% of the world's population own 90% of its finances, yes the system is broken beyond repair.
I would like to think that if I had the money to do that that I wouldn't. But if I did I would also like to think that I would donate a lot of money to my favorite charities.
Eventually none of it is worth anything because no one has the capacity to buy anymore rendering the disappearance of demand and the loss of all actual value. Value only exists within the context of demand.
Dammit, that actually makes sense.
There's enough rich dudes buying 27 houses to supply the demand my friend. Add in BlackRock and bill gates and your lack of demand theory is absurd I'm afraid.
Especially if it was bought with Fiat. House ain’t worth shit, neither is a reprobate.
There will always be a demand for living quarters. And manufacturing a shortage has driven prices up, not down. Your logic mirror trickle down economics. Nonsense.
@@kld70 Interesting perspective worth considering. You're right housing is a basic human need. This is really where the problem lies - it's being treated/used otherwise. My comment is more a critique of wealth inequality and speculative economics. Hoarding resources (like housing) at the top creates systemic inefficiencies and depletes value for the broader population. Unlike trickle-down economics, which presumes shared benefit, I’m trying to underscore the collapse of value when access is restricted. In any case, this topic is definitely worthy of these types of conversations. (edited for spelling)
i own real estate and i want to rent it to make even more money.
Depends on if you can rent it at todays prices. If not, go Airbnb. Do some research first.
@@margaretwince2748 if you own a lot of units, combining airbnb with standard rents makes sense.
I like how he casually throws in unchallenged “facts” like the house would be half as much if rich guy didn’t buy these houses. lol ok do you have any idea the astronomical number of houses that exist in the country vs the infinitesimally small fraction of the population that buys houses in cash and keeps them empty? It’s completely negligible. It wouldn’t even register as a percentage in housing cost.
yeah this guy talking non sense. And victim mentality people love these kinda analyses
Yeah, his arguments sound good but are kinda con man arguments
If you guys thought it out. You would understand that the entity that is buying these properties in a particular area can keep raising the buyers price. Thus raising the other properties value by default. Example they by 10 houses
In one year for 600000zThen comeback the next and buy ten the next year at 800000. Then next year they buy one for 1.3 because it’s hot property area. That’s why the houses would be worth half as much.
Chuck Missler said one of the worse things you could do is have your house paid off.
There are specialist that look through public record to see whose houses are paid off. I bought his book, “Weathering the coming storm.”
We are doing the same thing small scale on the western shore of Maryland. But we also have long term renters that we hand picked and have never raised the rent on.
Do you have any in florida?
@@allisononyoutube5794 Sorry, no.
This is literally why NYC is impossible to live in for even those of us who were born and raised here. It’s not the high immigration population cause that is NYC’s identity. (People often forget the Statue of Liberty and like everyone’s ancestors coming here). It’s not even the higher taxes. We can cope since we have such great infrastructure in comparison with rest of the country. It is the real estate. The real estate has become unbearable.
This is insane !!! There should be a housing authority that house people in those homes ....not realestate crooks ....
That’s nonsense …. There is no shortage of land or construction materials on planet earth … simply build more houses …. Problem is government permits and fees …. If governments allow building more .. there wouldn’t be a problem
It's called contrived inflation and dollar depreciation to increase asset values of the rich. Without this economic plan, this wouldn't happen.
Hedge funds and private equity have distorted the U.S. housing market especially in the sunbelt. They have invested heavily into single family homes and apartment complexes. High interest rates keep prospective homebuyers out of the housing market. Young people trying to buy a home now are converted into indentured servants unable to save enough to put a decent down payment on a 400k - 500k starter home in Florida.
That should be illegal!!! I feel like, everyone should be able to easily afford a main home and a vacation home, and maybe a plot of land with limited amount of acres. After that, it should get progressively more difficult to attain, like people need to explain why they need it and be strictly held to certain laws to keep them from abusing that.
Isnt basically what every Average Joe goal is ? To own a house as a piggybank for their retirement ? I don't want the responsabilities of owning a house and all the crazy taxes and repairs associated with that. 😢
Around here in our beautiful Canada, almost retired people are losing their houses because the government keeps rising the taxes to the point they can't live there anymore: it is a taxeviction
Think that’s why one guy does crypto and metals. Forced savings always good but property is getting less desirable under the last administration EV and new vehicles and spending really raises our cost elsewhere hope we see a return at some point. We need better thought out plans by government or have them step out of the way. Neat ideas but not way they go about them.
The avg Joe lives in his house, which assures shelter when he retires. Property values unfortunately increasing his taxes means a windfall if he downsizes.
He stubbornly remains alone, unable to upkeep of the oversized mansion because he's saving it as a legacy to his great memory for the kids. They'll just flip the property for the land and demo the outdated, decrepit house. They'll drop a cool million into their already well funded portfolio, childhood memories be damned.
The time to sell was when his kids had grandkids, when they really needed it. But he didn't give it up because he knows his selfish, infighting, greedy brats would just dump him in a nursing home and ignore him in their busy lives.
"Broken economy"
Because he doesn't like it?
It's rich dude's prerogative, how he invests.
Nah he says the rich should put their money into bitcoin, as he reckons its a much better, and easier investment long term(no house to pay someone to upkeep). This will free up more houses for people to buy and live in.
No, because millions of americans cant afford a home
Whats worse is that builders will focus on the high end homes, because they make significantly more than the construction of affordable average income homes.
Of course by definition that's the case but you can still make a hefty profit on high volume low margin goods. We have significant barriers to building in the US. In aggregate the landowners which are the homeowners are not comfortable with affordable units. The people that inhabit these units are low to medium income workers, disabled people, people on social programs, families, and young people starting their life. So the proposition to home owners is ... are you okay with poor people moving in and the associated traits of poverty? The resounding answer across the entire US is a resounding no. The local government that was elected in recently near me is now a majority republican. They ran on a platform of no new developments (I'm not joking either).
The people you describe as ‘poor’ are about 60% of the people in this country. You’ve literally described my working-class neighborhood. And none of us had problems buying homes until REITs became mainstream. Try again.
@@kld70 I don't think most blame goes to REITs. There is an strong anti-big sentiment right now ... probably impart due to the rebellion against the elites. It's true that Y/Y when you look at investors purchasing SFHs that contributes anywhere from an estimated 10% - 18%. However, scope out a bit and realize that of the current housing stock REITs own anywhere between 1%-3%. In some specific areas that have seen a lot of growth specifically the sunbelt it has affected those markets more. But this doesn't really account for much in the aggregate.
An extremely concerning metric is housing starts, housing completes, housing vacancies, housing permits, and then a good one which is housing starts relative to population. After the 07/08 crash housing really never recovered. The picture that is painted is that housing fell off a cliff and never really quite recovered. Additionally, when you look at the housing starts relative to population ... just eyeballing the graph comparing a high in the 1970s to where we are now it's down like 300% relative to that time period.
So to conclude my argument, I think the answer is more banal than a greedy corporation buying everything and sucking the money out of the economy. It's really Americans like the character of their neighborhood ... they don't want traffic, they don't want new developments, they want everything to stay the same. This is at the cost of everyone else who isn't part of the big club. If we removed a lot of restrictions residential zoning and slow permitting processes we'd have this problem fixed so fast your head would spin.
@@kld70
We have a supply demand issue. Your stating that demand is being hogged up by all the REITs. That simply is not true. There's the other 95% of the pie that needs to be examined as a large factor.
The stats show that of the 23M rental units roughly 250k - 350k are owned by REITs or institutional investors ... the other rental units are mom and pops. The REITs constitute about 1-3% of the total SFH ownership. In places such as the sunbelt there has been a larger contribution in terms of rental purchases by these companies. But these stats are really peanuts.
Take a look at the Fred stats. A good one is building starts relative to population growth. Just eyeballing the graph we're down something like 300% since the 70s. Additionally, you have housing inventory which has trended downwards, building starts, permits, completions all showing a direct of less building. Policy makers have absolutely commented on this which has to do with the zoning and permitting process.
Ask anyone that has new development around them what they think about. They'll say it'll change the character of the neighborhood, they'll be more traffic, the schools can't handle it, we're going to go broke.
For whatever reason Americans aren't happy and they're blaming the rich and famous for their issues. The people they really should be blaming is themselves. The reason we're struggling is because of every single homeowner in aggregate votes their interest which is to have very slow building or no building at all.
My investment portfolios are Bitcoin, ETH and XAI66Q
Be smart, get your gains, once the government is done squeezing blood from a stone, their coming for crypto. Trump recently talking about becoming the crypto capitol of the world. Bitcoin recently went up substantially, they're already influencing crypto, who knows how deep they're already in.
We up ETH brother
XAI66Q scam token
This is a bot
@@andyirons7162oops 😂. You haven't read up.
Im glad someone as smart as him started speaking up instead of these influencers talking absolute dribble
Forget the interview, that girl is beautiful, thanks.
Spot on the same is happening in Europe
The real trickle down economics was in the 1950’s and 1960’s US. Top marginal income tax was 90%. If you were rich you had to spend the money on or the federal government would spend it for you.
That’s why basically all loan interest and credit card interest was deductible for individuals.
I agree with him and I think it's horrible 😕 no families could afford to buy
If property taxes were higher, prices of houses would fall as people can't afford both taxes and morgage. It would also disincentivice rich people from hoarding houses without anyone living in them. The tax revenue could be used to lower income taxes or other taxes that affect the poor/common man.
I spend time in the exact part of Maryland he is talking about every year and it’s 100% true. The house I stay at was the house for a mistress of a very wealthy man 🤣
We have the same thing here on a smaller scale. Owners with dozens of old properties they do the bare minimum on to rent them and homes owned by those who live out of state that stay empty and eyesores in the town. The grass grows two feet high and they are boarded up.
Yes and this need to be ended in the USA. At least until the housing shortage is fixed. Make owners of multiple properties sell their excess by a certain date.
This is so true! Costco owns towns with lots of homes that are literally deserted....the entire town is! It's rediculous. A perfect picture of greed. Remember, the love of money is the root of all evil.
Then, government retort should be to double or even triple the property taxes of residential homes that these people don't live in or reasonably rent out if it's more than 2 or 3 properties. That would fix that nonsense quickly.
There are indeed some absolutely beautiful homes on the Eastern Shore in Maryland. I'm from MD and have driven by all these beautiful homes on my way to the beach for a summer vacation since my childhood. Never thought they might be empty.
"Blame the rich, not the corporations buying houses and land."
This is exactly what has happened here in an American community in mexico. Several wealthy people have bought 4-5 even more houses on the beach and never use them. It's disturbing. Now just in a few years to pick an ocean front home went from 150,000 to a million.