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Can you please 🙏 Do a video about Section 8 Rent to Own homes 🏡? Is it a trap? Can any of you fine gentlemen or ladies help with this information? Is it the cure for homeless? Is this a chance for the American Dream? Can we have a discussion here and hopefully a video can educate us on how this is even possible. Thanks to all who read this and know legit info ❤ Yes this was a repost. I'm really serious about finding all information about this ❤
An elderly lady owned the last apartment building we lived in. She never raised rents, and people had been living there for years. She passed and a company bought the building. All of a sudden we were billed for our parking spot, for water and trash that used to be included, and the laundry room was going to be removed so that the building could rent you a washer/dryer monthly instead of per use. Thankfully we were already planning to move out since we inherited enough from a grandparent for a down payment in a house, because our rent was about to increase from all of the nickel and dime crap the new owner was implementing. They still won since they remodeled our unit and were then renting it out for hundreds more than we were paying.
@@189Blake yes, I understand, which is why I phrased it as thankfully. I am aware that I was privileged enough that the sale of a grandparent’s house put me in the position to afford a home and that I am able to work remotely where I didn’t have to stay in a place where the rental market is that predatory. I vote for people who protect the livelihoods of those who need it most and have not become a NIMBY.
@gr8bkset-524 no one enjoys renting. Especially younger people who want to stay family. Even old people retiring are not selling then renting is not fun for anymore. Landlord are cancer
Buying a bunch of concert tickets to upsell them back to people: Scalper Buying a bunch of homes to upsell/rent them back to people: Investor Can we stop differentiating the two?
the scalper is just selling the same concert tickets back to people. the investor is renovating the homes most of the time to resell it which takes a lot of capital and time
@@jester_kun "renovating" in the cheapest way possible with subpar materials and shitty quality. it's a waste of time, money and resources. home owners tend more likely to renovate for livability and quality
@@jester_kun no, the investor is definitely not renovating newly built housing that they buy brand new to rent or upsell forward. Also, as shown in the video, the investor will also intentionally keep some of the supply entirely empty and evict their tenants more to raise the rents of the rest of their properties more. That doesn't take any capital or time, that just takes being a selfish asshole.
I couldn't get section 8 housing when I was younger because I attended community college- going to community college or university disqualifies you even if you're poor. Now I'm 29 and going to school, I still can't get subsidized housing because I'm "able-bodied without dependents."
The only "mom-and-pop" rentals you see on the market now are room rentals or a microstudio in someone's backyard. And they still cost as much as an apartment a few years ago
You don't see them on the market because tenants of mom and pop rentals don't move out. My family owns one rental property and our renters have been with us for more than 10 years.
@@greg_216 this my mom got a mom n pop house as a rental we stayed at the house until the lady sold it so she could retire with her husband we stayed in the home almost a decade n even added personality to the house the eventually the new owner kept
If racism and classism didn’t exist we wouldn’t be here. Legislations like these were designed to target poor people and especially people of color. Plot twist, racism also affects the majority negatively despite how convincing the propaganda surrounding it may seem. I see wayyyy more homeless white people than I see any other culture.
You think correctly. Capitalism is a dirty game. No honour in that system that we were born into without consent. Do we dare have brave change? Well, dare to vote differently, dare to organize communally and broadly along common dreams. Vote Green, Stein/Ware 2024 who support a Green New Deal and against the US-backed ge n-0cide in Gaza. Organize locally, see ways it can be done from Library Socialism promoted by Srsly Wrong Boys and Andrewism to Zeitgeist Movement and Ubuntu Contributionism. There are ways out. If we choose them.
I thought I was the only one. I really can't stand people that gobble up housing at 3 percent rates just to lease it back to the populus. I seriously wish there were a reckoning of some sort where the government started taxing these hoarders.
@@Ryan_hey Don't forget who can kick you off your land if you don't pay taxes on it - the government. Do you really own your land if you can be evicted from it by the government?
Cities need to be taxing empty units. The street in front of that building costs the city money whether there are occupants generating tax revenue by living their life or not and every city spends a fortune dealing with unhoused people so an empty unit represents a liability to a city. Tax the sh&t out of empty units until the price of housing makes sense.
I love this idea. It's a bandaid but an effective one and even makes logical sense. Also f's those algorithms encouraging landlords to have higher vacancy rates.
This is a great idea. However, the tax rate would have to be high enough to offset the profits gained by leaving them empty, or else it has no teeth. Kind of like the laughable fines we levy against multi billion dollar corporations that break environmental regulations. They would rather pay the fines than pay to update their infrastructure or change their practices.
And here's another side of this that's terrible: the existing housing inventory is being destroyed due to neglect. This is a hidden crisis unfolding in front of us. Housing isn't being treated as a place people live for generations and raise families in. It's now a commodity to be hoarded, traded, sold, and spun. It's wasteful to invest money in upkeep - genuine, deep, necessary upkeep. The result is that existing homes and buildings are falling apart. Rotting from the inside out because banks, investors, slum lords, etc do not want to spend a dime more than necessary to keep these places barely livable. Even individuals who own homes, thanks to now looking at them as investments to eventually flip and trade up from, are not maintaining their homes like they should be. They don't want to spend when they're just going to flip the home and move out. At most they'll pay for a cheap surface renovation to make a property look fresh - but underneath it's decayed. The result is it's becoming impossible to find a home even at a premium price that isn't a wreck. If a home wasn't built within the last 20 years, it is probably a mess. But prices keep rising and we're looking at the prospect of "million dollar flop houses" being the standard.
I have experienced the opposite when it comes to house age. Modern houses are built with much more cheaper materials, and only last 25-30 years before needing to be completely demolished and start over again. When someone gets a 30-year loan for a house that lasts only 30 years, they are losing all equity; in fact, losing more than they put into it when accounting for the demolition bill. Houses that are 70s and older tend to have better quality materials, especially the wood. You still have to look out for, and replace, things such as electrical lines and ducting, but that is still worth the effort. I bought a house that was made in 1977 that everyone else passed over for newer houses; most people only look at how a house looks instead of how its made. After two years of putting in the DIY work, I now have a very presentable house for a fraction of the cost most people pay. And it is solid in build quality and safety, not just presentation.
And even if it was built 20 years ago or less, it was probably done as cheaply as possible and will start falling apart within the next 10 years if it hasn't already
Even if you buy an older home you have decades of idiot DIYers doing dumb stuff with the best intentions. I bought a home and expected to be able to repair it to a livable state but I swear every wall, floor and ceiling I opened up I saw some new horror. Severed framing to run utilities, the wrong gage of wire used everywhere, asbestos tile covered up with linoleum covered up with ceramic tile, rotting wood with new wood just slapped over it, the list goes on. Don't let people lie to you that builders today are astronomically worse than builders of the past, just because something has been standing for decades doesn't mean it wasn't built by a low grade moron.
I'm stuck in burnout precisely because of BS like this. I can't 'progress in life' despite earning 1.66x the national average, having plenty of savings and still not being able to get any residency worth my while, EVEN OUTSIDE OF THE CITY. Discussing explaining my qualms to my psychologist, I got told that _"we live in one of the wealthiest countries on the planet and should be happy with what we have"._ They're missing the point. I COULD afford a third rate piece of shit apartment at a quarter million bucks, but that doesn't mean that it's worth doing so. In the end, this whole scheme is self-defeating and self-destructive. If people can't afford housing, the entirety of civilization will collapse within half a lifetime. Someone living on minimum wage can't afford housing, meaning they can't do their job, meaning that vacancy can't be filled, meaning no one will pick it up BECAUSE it's minimum wage and that doesn't get you anything, meaning the job that society is built upon will die out sooner rather than later, with all the dire consequences that comes with.
I do get really tired of hearing people spout the "you live in the wealthiest country" tag line. We live in the country that has the most debt, 35 trillion and counting. It is home to some of the wealthiest people that exists, but also home to the most in debt people that exist. Living in America does not mean you're rich, it in fact for an increasing number of citizens means you owe a lot of money while not actually owning anything.
I feel you. Systemic exploitation is hurting us all. I've grown to view therapists with skepticism despite being pro-mental health help and talking things out. A lot of them pin the blame on individual people and refuse to acknowledge the inherent corruption in the culture.
@@badbabybear1 America has soul cancer. Other people are a threat. Tragedies are daily. Empathy is weakness. Your choice of products is the highest expression of self. We are forced to make shit we dont care about all day long and our compensation is divorced from our productivity. And all of this is daily told to us to be paradise, all the flaws in the system are simply failures of self. It is absolute madness.
@@badbabybear1 it's that way by design They placate and medicated individuals so they can better cope in a sick society. Just like the medical industry it's about treating symptoms more than the root cause. I mean half the food industry is there to make u sick. I was thinking about honey and glycation... Honey is anti-bacterial and anti-fungal naturally (I saw it under a microscope no germs) because of the high sugar content. Your human gut needs healthy bacteria in order for your health to thrive. Therefore eating too much sugar would eventually kill all your gut bacteria and probably attack your cells because we have like so much bacteria and I really get diabetes now. Sugar also affects your brain as Alzheimer's is sometimes called type 3 diabetes. Sugar is one of the worst things you can over eat and it's probably in 70% of food in stores. Excuse my autistic rant.
The mobile home grab will always make me angry. My grandparents were outpriced and pushed out of their trailer park, and ever since they've been floating between my family, my aunt, and my cousin. And they STILL vote conservative! This doesn't even go into my own housing situation.
Jesus... It almost makes it hard to feel bad for them. Insane that they can be so brainwashed that this shit can happen to them and they have no way of understanding the real reasons why.
I’m paying $1100 for a half carport made studio in south Florida, only microwave I purchased, no furniture,made cheaply had too fix the plumbing 3 times, pay my own internet service,only air conditioner and its old
yup.... there's not even insulation in the walls where I live. Few years ago they had to replace some of the drywall because it literally started falling off... and they could have easily thrown some fiberglass in there while the walls were already collapsed... but the landlord even then refused to insulate the walls of the apartment. So we boil when it's warm outside (because we also have no AC in here) and freeze when it's chilly And we still pay thousands a month for this unit
Leeja Miller has an amazing video called " Regan Ruined Everything" that really breaks down exactly what policies and how much they broke down America's economy.
@@ishathakor The answer was neoliberalism. Reagan, Thatcher and the like may have been players in that plot, but that plot would've happened with or without them. Let's not lean into the American tendency to personalise things that should be correctly attributed to systemic causes. The channel adu has a good video on this, titles "neoliberalism was necessary".
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
@@williamDonaldson432 this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
big returns come from investing big. investing big comes from building conviction, conviction comes from understanding, understanding comes from doing your homework and research beyond surface level.
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars) Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
My CFA 'Jane Marie Ising', a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Assuming they would actually fight and not simply pocket the money while pretending to being doing somthing, in order to not irritate the people in their class.
I was so desperate for a place to live I went to a trailer park..... the man asked for 1400 a month for a 1 bed 1 bath crack shack. I honestly think he just didn't want ME living there. You should have seen the trailer, it amazes me that it was even legal to live in, in that state of disrepair.
it probably wasn't, but most of the standards are only tested for if they try to rent to Section 8/housing voucher tenants. It wasn't personal. Someone who can't pass a credit check or make 3x the rent to live in a cleaner apartment will live there out of desperation. He's banking on that.
Yup saw plenty of older slumlord apartments in my old college town expecting a few hundred less than new "luxury apartment" in the same area. It's so bad now that property managers will cancel scheduled tours because someone already got the apartment...cant even look at the place now.
@alexanderredhorse1297 I think it was personal because the price of rent wasn't listed online, only that it was for rent and to ask the landlord for more details. I had to find out how much the rent was when I got there... so I guess rent was on a case by case basis. He saw me and thought "oh a college student... got'em"
I mean it is wild these are the conditions in the richest nation in the world. No wonder some of them buy houses in smaller countries and move, at the prices in the US you can buy a house 3-4x better and live comfortably if you have a remote job or just passive investments for income.
The quality only gets worse with newer housing too...I lived in a 2013 building where the entire apartment shaked just because my downstairs neighbor slammed their door...thought I woke up to an earthquake once. You can literally hear every footstep from the upstairs apartment. I go out of my way to live in older buildings now
@@nfzeta128 Well they choose to spend their money they've extracted from their citizens into their giant military which they use to "police" the world and extract more resources in which a very slim minority lives very well. Off the hard work of all the working people.
Agreed. Part of that is what I call house bloat. Case in point; my 1965 vintage house was average size when it was built and was considered a "starter home" when we bought it in 2001. It was more than adequate for a family of 4. No one put a gun to my head forcing us to upgrade to a newer oversized house. Now it's paid for and I'm not going anywhere.
It ties into another quaint concept of only buying as much home as you need. Families with fewer people don't need as large of a house. As your family grows, you move into a bigger house. Keep in mind, it was common to have more children, and that might mean a span of 12 years between the eldest and youngest of six children. At some point it would make sense for a growing family to move from a 3-bedroom to a 4- or 5-bedroom. So, yeah, starter homes were less about upgrading than they were about meeting families' needs in the present. With today's smaller family sizes, that might be an outdated concept.
I don't know, I have a fairly big house with 2 people living in it, but my niece needed a place to stay after her divorce, so we let her move in, and it feels pretty cramped at times. 3 adults and 2 kids in a 4000 square foot house. First world problems, I guess. But if we'd gotten the size of house we could actually get by with, it would be untenable in our current situation. My niece is going to move out soon after 2 years, and the house is starting to look like a pretty good size for the 2 of us and our pets.
@@imnotmike I honestly don't get how that could feel cramped. My family used to live in a 1,400 sq ft house and there was 4 of us + a new born + sometimes a grandparent would stay
Starter homes? A myth, just like starter jobs. Starter bills don't exist. Or starter taxes. Or starter medical expenses. Or starter insurance. Or starter groceries. Or starter utilities. "Starter" anything is a myth -- except starter wages. We have *all* of the starter wages in this country.
When my mother posted my grandparents home for sale after their death she immidately recieved soooo many offers that were all cash and above asking price. She ended up selling it at the asking price to a very nice local veteran, his wife, and their toddler who bought it using a loan type that is a lot more work to figure out closing the property. She wasnt going to be a sellout. Unfortunately so many people wouldve rather gone for those easy, quick, and more profitable offers.
It should be forbidden to make a profit on basic necessities such as water, housing, food, energy. Or at least limit profits to a decent amount. The rich are getting into serious pitchfork territory. Update: add healthcare, education, ...
Cut out the middleman. Create well paying, stable, government jobs providing basic necessities, and do it more affordably than *ANY* private org could through massive economy of scale and no obligation to capture excess revenue for profit. You still keep all the benefits of a competitive luxury market competing on innovation, while ensuring universal stability, AND you don't give the free market idealists any room to screech because the gubmint is not setting price controls, it's just out-competing them.
In order to do that you need special mechanisms that can be aplied everywhere but only affect certain sectors of the economy and life That's why no government can solve the problem
This just won't happen. Americans are too conditioned or brainwashed to see that this is the only rational pathway. Conservatives and rightwing wired people will label it whatever word is scary to them at the moment (socialism, communism, Marxism, etc.) And that will end it. Meanwhile, they'll complain about all the homeless and "freeloaders". Then blame all of the problems caused by commodifiying basic necessities on immigrants, unions, taxes n big gubmint. The cycle will continue until climate change takes us all out or the right wing minded of humanity takes out humanity violently through war n genocide. It's unfortunate
Hey second thought crew, I've been using some of your videos (Walmart planning, east Palestine, etc.) to my university students and I'd like to say thanks for the content you make. Hopefully I won't end up on a list 😂🤞🏾
Great work exposing young minds to truth that is often suppressed on our mainstream airways. Have you also exposed them to the concept of Library Socialism (see Srsly Wrong Boys and Andrewism)? or TZM, Culture in Decline with Peter Joseph? or Ubuntu Contributionism with Michael Tellinger? Just a lot of different options out there that people should be aware of, then they can make their own decisions how to proceed once they know.
There’s this 20 something in Australia who has come up with this incredible system… people just ‘happen’ to perhaps share the address of houses that have been empty for 2 or more years, or empty plots of land that have been unchanged for that long and those addresses miraculously end up shared to families who need homes… obviously we would never encourage breaking and entering, but if the neighbour who accidentally shared the address has a spare set of keys, that they drop in the direction of a single mum… well… wouldn’t that be terrible?
@@michaelward9201 Lighten up sunshine. Go back in time and look at how the wealthy, early settlers and Nobles/Aristocracy "got" their land. Squatting and having a King or Queen as a good mate was very enriching for some families, who still own huge tracts of land and buildings to this day. They never paid a cent for it, just took/stole it from someone else. This is no different, they are just using the empty land for now, maintaining it in a mint condition.
@@morganhillfightclub2996 this is the most out of touch comment. To build a house you need somewhere to build it. Land is expensive. You need to be near somewhere to work, which probably means some flat land isn’t just available. You also need all the things that make a house. Keep in mind if your house isn’t pretty looking, it will be taken down by the council. You also need to be physically able to do the work- you need to be strong, and for that, you have to have food security, be well rested, stuff that’s pretty hard if you don’t have a home. You also need to have the time- which, if you are living pay-check to pay-check, you do not have, because every second must be spent earning, and if you have kids, that means the little time you aren’t working is spent with them. ‘It’s not that hard’ come on. Build a house, right now, using no expensive materials, that fits a family. Watching a couple videos doesn’t make you an expert.
It would not be a surprise if the same cruel CEO after this statement after 7:00 goes to his next official meeting declaring how diverse, eco friendly and social responsible his company is.
I also don’t like this American culture where the parents force the children to move out as soon as they turn 18. Also this mentality where people refuse to live as a joint family. My MIL could easily live with us in our house and would save half of her income on rent but she’s been conditioned into mindset where she feels like if she moves in with us, she’ll feel she will no longer have her “freedom”
To be fair, it depends on the family. I lived with my parents as long as I could in order to save money, but I wouldn't go back to the constant yelling, physical fighting, my mom's hoarding etc.
Living alone does not equal being independent. It just means you have to figure it out on your own, when it would be faster and easier to be able to learn from family. This is, of course, assuming you have a good, healthy relationship with your family, otherwise you're better off moving out, yeah. 😅 Plenty of cultures work just fine by encouraging multi-generational homes rather than insisting on individualism, even at the detriment of the individual or family. @@payasoinfeliz
I paid rent to my parents for years while I saved more than 50% of my take home pay for 9 years. I didn't get many dates but I did save enough to be on track to retire early. Also, my future wife still accepted me living at my parents because she is not American and found that this strategy made sense. Now we have a family in an affluent part of France and I don't make that much more than I did previously. It's just that I can relax because I already took care of my retirement be doing the very un-cool thing of commuting far from work and saving my money.
A lot of people care too much about how others perceive them whether they want to admit it or not. So moving out is perceived as the right thing to do by others while staying with parents is not perceived as "cool".
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
There are several independent advisors you could research. However, I have been working with “Annette Marie Holt for almost four years, and we get along great. If she appeals to your judgement, you could continue with her. I support her.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I am an architect who has been working on low income housing since graduating from Berkeley 40 years ago. My career in this area has taught me some things. The software tools and Wall Street buying up houses absolutely play a role, but they are not the fundamental source source of the problem. If supply and demand had nothing to do with it, house prices in rust belt cities would be the same as in tech hubs. 75 years ago, detached single family houses, duplexes, and small apartment buildings lived side-by-side, in harmony, and everybody had a place to live. The older residential neighborhoods got down-zoned to detached single family residential only (and the duplexes and small apartment buildings got "grandfathered" zoning), and the newer neighborhoods never did allow denser housing. The automakers sold us on this notion that everybody could have their own little English manor house and live like a rich person, even though they weren't rich. The problem is, if you are only building four houses per acre, or less, you run out of land that is a reasonable commuting distance from urban job centers. The result is a shortage of housing near urban job centers, driving prices up. If we went back to zoning that allowed all residential areas to have at least small apartment buildings and build larger apartment buildings along major transit routes, we could fix our housing shortage and have affordable housing. That would really screw-up the pro formas of Blackstone etc because their investments are built on the current shortage. If you want to stick it to Wall Street, become a YIMBY!
Very good, practical advice. This is something that's actionable at the municipal level, and that's a level where a determined person or group can do good.
You totally missed the point of the video. Even if you built all the housing to solve any shortage it would still be unaffordable because supply and demand are not what is driving the cost of housing. I live in a city that has just built a LOT of housing but rent is increasing instead of decreasing like you would expect. Housing should not be treated as a commodity, but a necessity and not able to be used to create liquidity in the market. I am also old enough that I watched my parents get rid of the house I grew up in because "rent is so affordable, why do we need to own a home?" That was a terrible decision that caused hardship for my mom for the rest of her life.
@@lesdmark My point is the point of the video is wrong. If we built 20 million new housing units in the US in the economically flourishing cities, do you really think the software tools and Wall Streeters would be able to prevent falling prices from surplus supply? There's software tools and Wall Streeters in the oil market. Prices still fall when there is surplus supply. I live in Seattle. We've been building, building, building. Over 20 years my neighborhood has gone from old houses and a few midrise apartment buildings, plus a couple of the old 'grandfathered' towers, to five new 25 story apartment towers. Rents have still gone up, a lot, because even though the new apartment buildings are full (I see the people walking in front of their windows at night), it hasn't been enough. Most of Seattle zoning is still single family detached and a piece of land that is zoned for a small apartment building is worth a couple million dollars, because there isn't enough multifamily zoned land. That's how deep a hole we are in, which is why the Wall Streeters can move the market. If we fix the supply problems, the Wall Streeters won't be able to make what they consider a reasonable return and will move onto new markets (victims).
The core problem with capitalism is that everything becomes someone's capital eventually. Because it must. Capitalism requires that 'capital' always be increasing. And if there isn't a sufficient enough influx of new forms of physical or intellectual capital to achieve that necessary level of growth, it must turn some facet of society into capital instead. Healthcare. Education. Housing. Law Enforcement and Incarceration. Communications. Transportation. Governance and Regulations. There's a running list of foundational elements of society that capitalism has already cannibalized to continue fueling its insatiable need for growth. But there's very little left for it to turn to that it hasn't already devoured, because capitalists have already hollowed out the American society's accumulated wealth. It's why they're accelerating and getting increasingly aggressive in their efforts to extract what little wealth remains that they don't already control or can't easily liquidate. Because America's economy is primed for a total collapse, and the big capitalists running the show all know it. They're preparing for the last chapter in this twisted tale of greed -- capital flight.
Except this is the opposite of a "Free Market" the app algorithm basically makes it a monopoly as there's no room for disruption via competition. Things used to get cheaper because tech advances and things get easier and companies can compete with their prices and the consumer would take the best deal. wasn't until recently have we seen everything just raise in price simply because there was a cartel and instead of competing they started working together to keep prices high.
18:50 BTW, a fun fact: the right to housings is included in the Constitution of the Russian Federation. But in reality, the housing is very unaffordable.😢
Capitalism isn’t what you want, if you want democracy. 38 million Americans live today in poverty, and 60% live from paycheck to paycheck, while 9 of the 10 richest men in the world are United States (US) citize The US government is unconditionally supporting the genocide against the indigenous people of Palestine, against international law. Moreover, the US has consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. Therefore, the US can’t be the champion of democracy. On the contrary, the US is the biggest threat to peace! Capitalism is plutocracy.
I'm not from the US, but I hear alot that Americans live paycheck to paycheck because they live on debt, for example buying things they cannot afford like expensive cars purchased with credit card. Would things change if Americans live below their means? Correct me if I'm wrong please
The Jews are the indigenous people of Israel. They were forced to flee when the Romans were successful in committing an ethnic cleansing of the Jews. 600 years later, the people who now call themselves Palestinians settled in what was previously the Roman province of Palestina, and what was before that, the kingdom of Israel. Edit: My intention with this was not to argue that the Palestinians deserve what is happening (they don't), or that Israel is right to do what they are doing (they aren't), I am merely stating history that is often forgotten, obfuscated, or ignored. Both Palestinians and Jews have a rightful claim on the land, but to call Palestinians THE indigenous people is just wrong.
I'm from former Soviet Union. Housing was people'r right back then, my father as a young specialist got one bedroom apartment after few monthts as he started to work (didn't pay a single dime for it). Nowadays it's animagianble for working people. Sucks that my country doesn't exist anymore
Instead of saying some kind of American criticism of capitalism vs socialism, I'll just say that I don't think anyone knows the real solution... or else it would be working right now. Best of luck to you and yours.
@@DistrustHumanz I don't want to be mean or cynical here but a lot of good solutions aren't being taken due to them harming profits, they are not working right now because they are not being done. Still hope you have a good day
Where I live it used to be 100k for a move in ready really nice house. My parents house was 100k. 20 years later I’ve just bought my house in the same city and it’s a fixer upper in worse condition for 140k and it was the only thing I could afford. And it’s still 50% of my income, but it’s more expensive anywhere else… despite me making more than the average worker in my area. Shits wild.
@@ywlumaris Where I live, we bought a house for $355 K in 2003. We sold in 2020 for $1.2 million. So, you’re doing fine. BTW, the house is a simple 3 bedroom, 2 1/2 bath, no garage. For $140 K I think you can buy a parking spot here. Toronto, Canada
Expensive housing drags everyone down, except the landlords. The more money people are forced to sink into just having a roof over their heads, the less they have to spend on everything else - clothes, food, entertainment, local businesses, travel, etc. It drives people who otherwise might just be struggling into outright homelessness, pushing up all the associated problems like drug addiction and crime. It destroys the fabric of communities by turning a big chunk of the population into renters who are forced to move every few years when the landlords want to jack up the rent, thus giving those renters no chance or incentive to put down strong roots or feel invested in the community. We would literally ALL be better off with more affordable housing.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $375k to around $650k.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
😭 and you got people thinking just anybody can afford these homes, people barely can afford apartments with multiple rent payers. we are living in unprecedented times
I actually bought my first house because I couldn't afford to rent. where i lived rent was about 2k for a one bedroom, but the mortgage for a small house was about 400 a month.
@@bobowon5450 Its cheaper to own in the long run, the cheapest way would be to buy a plot of land and build an unpermitted tiny home then get the permits after the fact.
@@morganhillfightclub2996 I know a guy who did that. He is now facing many fines because the government determined he was better off homeless than in a small house
That part of the empty apartments is so true. Months ago, someone posted an article in Canada, about the "1.3 million empty Canadian homes". Since then , several different articles have been claiming the article was total bunk. But it holds true, because there are other articles coming out about empty condos in the major urban centers. They're not units being held purposely to reduce supply. These were bought pre-construction, for sole purpose of a flip. The "investors" are now losing money on the sale, as well as having lost money, when their asset was delayed through the building phase. Some, have been reported to have lost half a million, because the sales have stagnated.
Canada needs system change, just like USA and the world, too. I would like to see community co-ops and mutual aid networks really take a coordinated effort together to rise up and build a new system, along the goals of Degrowth, Universal Basic Services, One Small Town Contributionism-type organization or TZM "A Viable Society" as proposed by Peter Joseph. I powerful mechanism for mutual aid is Library Socialism, talked about by Srsly Wrong Boys and Andrewism.
@@SC-sh6ux In Canada, the PM passed a law that prohibits empty homes by foreign buyers. The law in effect now for a year, taxes the empty homeowners and stops foreign/non-Canadians of purchasing our homes as investment vehicles.
I just bought my first home (thanks to the gains the UAW got us last year) the couple I bought my house from turned down an offer that was $10,000 higher than what I offered. They said they wanted to give someone their first house and not sell it to a brokerage firm. I was lucky that there’s still some decent people in the world. But it is a horrible mess out there, the 3 other houses I put a bid in on are low all up for rent. Something’s gotta give!
Another big part is the Bush and Trump tax cuts which funneled money to the top 1%, who can then use their additional $ to purchase a 2nd, 3rd, 4th, and 5th house as a financial asset.... Or invest their new money into the stock market which boosts large corporations to purchase more residential property.
@@mgg7756well Chump DID add 8 trillion to the natl debt (1.9 trill to we the people so we'd still *spend* and help corps. 2 trill for tax breaks for millionares and up, 4 trill for "pandemic relief" for the Fortune 500, and ppp for Congress) All We The People got was inflation spiking in 21 after Texas froze.
Then nowadays they also hire some corporation to control their real estate either in terms of rent or investments otherwise. Either way that's more inflation of the market, because those corporations now have to make some extra profit so that rent has to go up.
@@mgg7756 Actually, Reagan did cut taxes massively on the wealthy and home prices went up about 60% during the 1980's which led to the Savings and Loans crisis... But the Bush and Trump tax cuts were what caused massive housing bubbles this century.
How can you say that this isn't "normal"? By this country's standards, it would be abnormal to behave in a way that brought in a single penny less profit for companies and landlord.
I live in Thailand. I live in an older condo in Pattaya (a 5-minute scooter ride to the beach). It is all concrete, so the rooms are quiet (I have a video of the condo). I am on the ninth floor, so the sunsets are great, and I do not have any trouble with mosquitoes up here. I do not get much road noise because I am on the ninth floor. We have a large pool with a slide. There is a restaurant by the pool; most meals are 3-7 dollars. My rent is $207/month. I have a new wall unit ac. It works great; a guy comes out the same day to fix it if it breaks. I run the AC 24/7 and my electric bill is $30/month. My room is 270 square feet or 30 square meters. It has plenty of room for a single guy. I have no plans to move back to the States.
Aye, New Yorker mentioned 🍻 As a New Yorker fighting for tenant rights and advocacy, it's disheartening how every passing year tenant's rights erode. NYC is pro-landlord despite what most have heard.
Content idea: I’d love to see some videos talking about viable fixes and/or alternatives to evolve into as a next phase. What is the better path in you see?
I am so grateful to you. I am still in school, so I can't join your patreon, but I will when I am on my own. Your high quality videos never cease to astound me, and the information has always been amazing. I (like almost everyone else in the American school system) grew up knowing communism = bad, before I even knew what capitalism was. And my dad provided me with an upper middle class childhood, so I had no reason to truly question our system. Due to being in the LGBT community, I've always watched more left leaning channels (because the only other option was being indoctrinated into hating myself), and I'm so glad that this is how it worked for me. This allowed me to ease gently into the leftist ideals. I was going down the leftist pipeline at a very slow rate until about 3 months ago, when I was radicalised. I have you and a few other creators to thank for this. I don't know if this is what my ideals will be for the rest of my life, but I am so glad to at least be given the opportunity to see another perspective. So thank you. So very much. I know that you have brought a similar experience to many others as well, and I hope to see that continue in the future.
if you really understand the ideas of communism, it is foreve. To come to an understanding of communism = to come to a more holistic and true understanding of the world. Therefore, one cannot refuse more accurate knowledge, forgetting it voluntarily and consciously. Communism is the highest level of social development of society and the individual. It is very happy that there are more and more knowledgeable young people. Continue to explore the world. Thank you!
the school system tries to brainwash us to accept the capitalist system. people are starting to wake up with more informational platforms at our fingertips.
@kotassasinskiy3774 I cannot picture a world where I will no longer believe that something as simple as housing and food is nothing but a basic human right. However, for a very long time I could not picture something other than the capitalist society most of us live in today. I don't want to place myself into a box, and I will continue to stay up to date with information presented to me. A large reason I don't really want to say that I will always think this way is probably because of a trauma response, but I am not going to try to diminish this desire for change either. Thank you for your encouragement! I know that educating myself to new ideals is right, but I also don't love the fact that I feel the need to lower my voice when discussing such topics in public or even around certain family members. I appreciate the validation, and I will continue to learn as much as I can!
The 30% on housing is part of 50% on bills rent and food, 20% for retirement, and 30% on living and fun (subscriptions, tv, trips, clothing, shopping, and furniture). I wish I had known that formula since highschool. Oh, and having a 1 to 6 months worth of basic bills, food, and utilities as an emergency fund in a high interest savings. That would have saved me some headaches.
Keep your emergency funds in a high yield bank account for example Sofi bank or Lending club. If you have $10,000 and you keep it in a regular 0.01% they give you $1 If its a 5% account the bank will give you $500 a year just for keeping money in their high interest account. Thats $500 dollars you didn’t need to work for and it counters inflation.
5:58 they always say Capitalism is the best way of distributing goods and services, but every time the goods and services get optimized out of the equation.
people are inherently evil. if you give someone the chance to screw you over for profit they will. id rather many large corporations that are held accountable by the people and government than a government that isnt held accountable by anyone. absolute power corrupts absolutely how do you reckon goods and services be distributed equally? who will regulate that? do you really think that whoever regulates it will be any less evil than whoever regulates it right now? of course you didnt think of that cause its cool to hate on whatever system we have in place rn
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
Finding financial advisors like Lisa Grace Myer who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
That’s assuming we maintain proper shelters not to mention expansive programs on housing, halfway housing, debt consolidation, organized labor and really just anything to keep people literally sleeping on the street not to mention real methods of preventing crimes like human trafficking
Honestly, makroeconomically it is preferable for rents NOT to increase. Because workers demanding higher wages will lead to higher production costs in EVERY sector at once, which makes the whole country less competitive. This us exactly what happened here in Austria. When inflation hit, the land lords lobbied heavily for inflation adjusted rents. Fast forward 2 rounds of collective salary negotiations and whooop di dooop, Austias industry is suffering heavily from too high unit labor costs. That is just a perfect example of the owning class shooting itself in the foot. But of course the media blames it on the unions "unjustifiably high wage demands". So it is everybody elses fault that we refused to swallow the losses that landlords should have taken in times of crisis, and now everybody (including landlords) suffers. Good job!
It won't be banned, it benefits the capitalist class, and they make the rules. In fact it would be a lot better for them if we neved even knew about it
@@overflow7276 Almost like providing your citizens with basic needs makes everything better, even the capitalists' precious economy, who would have thought...
I'm lucky that I was able to buy a house recently, but goodness gracious the cost of everything is so much. People can be like "oh it's a saving money/budgeting issue" but however much you budget, sometimes it seems impossible to build yourself up again. Amazing vid as always, love having my lunch break with a dose of 2nd thought
Did you 'buy' a house, or finance a house, because there is a difference. If you financed, then the bank owns the house. Please excuse my criticism if it sounds harsh; not trying to be rude. The common misconception of debt as ownership is a major issue in mass social mentality.
Thank you. I am an American citizen trying to seek Asylum in Finland. I have bounced between 4 states, in over 30 different properties, sometimes forced to sleep without shelter, due to lack of affordability and multiple, unfortunate, and tenuous, roommate situations. All I have for backup is my divorced parent's homemade trailer, which gets severe and traumatizing Elder Bug infestations, and dangerous indoor temperatures every summer; complimenting the constant threat of wildfires due to the incompetence of my state government. I shall be using this video to help support my case, while I seek medical treatment and psychological care for damage to my body beyond what I anticipated. I guess, wish me luck. I know my chances are slim. America is deemed a safe country by EU standards. Still, I must try. My mother, also desperate in escaping the situation, is also struggling to find housing and work within the country itself. She has traveled West to East in search of stability with no luck. I am alone in seeking help beyond the border, but I refuse to suffer silently, as I watch everyone I love go deeper into poverty, losing what little they have due to the lack of interest in helping Americans like me. God Bless America. Some of us desperately need it.
Did you ever try temp jobs overseas? Might give good experience while being able to get out of the country for a while, may even lead to a full time opportunity, you never know.
I think what frustrates me most is that nobody in national politics is talking about this. I guess it doesn’t test well with people that otherwise wouldn’t know that corporations have been buying up all the housing units.
@@syrinx9196 We need less education and more people with good work ethic and good morals. If we had a stronger labor force housing prices would go down but its harder to find Americans that are willing to shovel concrete and frame a house. Too many people in society work jobs that don’t actually produce anything. If we got rid of the government bureaucracy and taxed the ultra rich a 15% more. We would literally have so much money to build massive buildings and infrastructure. We need less education because the vast majority of college graduates end up having useless degrees. Put all those people to work at construction sites and fixing our decaying roads. Why not build more railroads?
@@syrinx9196 about 60% of Americans go to college but only around 25% of jobs require college, in fact vocational jobs pay more than most entry level college jobs. Working class jobs have a negative stigma around them yet they are safer careers to enter. You don’t go into debt and if you work hard you are pretty much guaranteed to move up in life the more experience you gain. I started working in construction at 14 I’m 23 now and own a home (with a mortgage). Alot of my friends that chose to go to college are working as waiters making minimum wage and in debt. Of course certain jobs require college such as doctors, lawyers, scientists, engineers, ect. But 60% of society does not need to go to college.
@@syrinx9196 It would be more beneficial for society for a larger portion of 18-22 year olds to learn trades and help build our nations infrastructure. Rather than have such a large swath of working age people rot their brains in college learning about “Gender”. Our education system is broken in this country they are phasing out shop classes and mechanics classes because of a BS stigma liberals have about “Dirty Jobs”. Look at the price of housing now vs the 1950s back then a larger amount of society was in the workforce constructing housing and infrastructure.
Hot take, but the only people who should be allowed to profit off homes are the people who work to build or upgrade them. People being unable to afford housing because of private investors trying to squeeze out a profit is unacceptable.
I do pest control for apartment properties. The quantity of vacant units on these properties is often insane. Just yesterday I was doing a full building routine treatment and out of 8 units 6 of them were vacant. That's excessive even by the standards I'm used to, but it's completely normal for 1 in 8 units to be vacant on many properties I service.
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@Leo23XRthe Chinese government is purposely making their housing market crash because they plan on making housing a rights. But people in the west can't understand that and think the housing market collapsing marks the end of China.
17:25-17:59 - THIS is what I've been saying for years! Wage increases, even universal basic income, isn't going to get us out of poverty, because the cost of housing will just keep going up. Landlords and landowners will just take more, take us for all our gains. It will never be enough, not until we can drive down the cost of shelter. But there's so much more in this video that I barely understood or didn't understand before. Thank you for this deep dive and thorough analysis!
The median income in the U.S. is not 78k as stated by CNBC. That might be the median household income, but the median personal income in the U.S. in 2023 was like 42k.
And in Australia, something called 'negative gearing' makes it appealing to many upper-middle class people to hoard housing. As a Canadian who immigrated here, being a landlord to at least one other property is considered a life-goal for adults. Seriously. Almost every 50-70 something person I worked with at an office owned one or two extra properties, because they get massive tax breaks on them. That old saying about temporarily embarassed millionaires is especially true down under as they raise rents 100 PER WEEK every year now. I know this is a worldwide issue, but Australia is particularly heinous.
Loose money, loose laws, no protection for consumers, monopolization, speculation not taxed. Should I go on? Inequality did this and it's going to get even worse, the money hoarders are in control and the market is OUT of control. The best thing to do for an average person is to live in a camper for a few years until it collapses, worse than 1929. We can only hope.
One thing that is happening in the area I live in (Ontario Canada) builders will set a price and then will not budge, a new home could go on sale and just stay on sale for literal years. Builders will refuse to sell a house that they built in a cheaper market cause people simply will not pay that much for a home when you can get a existing property for 10-20% less. The fact that governments are willing to prop up builders and do not require builders to sell after a given time has lead to a situation where in many areas (little towns and big cities) where a builder is expecting a certain amount for each property and will not adjust the prices based on the market which results in entire neighbourhoods of new homes being vacant in communities with many people looking to purchase.
it's a very easy problen to solve, bring in hefty taxes on empty property for corporate landlords and private landords with more than a certain amount of property.
Removing much needed public housing, in favor of privatized housing, is some proper late stage capitalism. It's already insane enough that homeless people exist when there are so many empty homes. Having a roof over your head should be a human right. Bang-on video!
He was talking quickly so the actual headline was easy to miss. It's not that the average (eg add up all income and divide by all people) is 80k. It's the median.
@@ipickuptrash1640 I guess both of us should clarify median and average. Median more or less means "50% make less than X, 50% make more than X" while average (also called mean) means "Add up all income and divide by number of people." (Also how GDP per capita is talled) And these can be very different numbers with very different meanings. For instance, say we have a bunch of people that make: 1, 1, 1, 1, 1, 10000000. The median would be 1. The average/mean would be 1,666,667. It would be a little disingenious to say that the average (as in, pick a random person) in that group) makes around 1.6 million. It'd be more accurate to say that the average person makes 1 and the other person is an outlier. Now, one might ponder if the size of the US population, the range of incomes, etc, might make these numbers closer. Various reports have shown that most of the wealth and income in the country is held by a very small minority. That pushes up the average/mean significantly but doesn't really affect the median. Or, let's put it this way. Bill Gates making an extra 100million dollars a year will increase the average. But that has zero impact on everyone else in the country making an extra 0.
So essentially they played Monopoly and realized the one who gets all the real estate first wins :| Why we didn't put limits on how many properties could be bought is our own fault. We should have demanded that in government.
The scary thing is that the free-market 'solution' of pricing people out doesn't really apply here. The theory being if something is so expensive it prices everyone out then the market price will lower naturally until people can buy again. This won't happen however, because there will always be individuals or companies or investors with enough money to buy them up and turn them into rentables or AirBnB's, so the sellers will never price themselves out.
It is truly overwhelming not just the cost of housing the amount of shortcuts some of the builders were take to appease the Realtors!! Working in construction i e residential new construction I've seen firsthand shortcuts that closely rival 2:33 the fast food industry as far as overall lack of quality especially in the materials utilized!!
I just want to point out that on the other side of the globe, in Russia and Central Asia, the situation is exactly the same at 146%. Our rental prices are lower than yours in absolute terms, but they make up more than 50% of the average salary, and the cost of buying real estate is growing by tens of percent per year due to mortgages. Most have to work 2+ jobs to live comfortably. Capitalism is the same everywhere.
Can I say this is a global phenomenon??? USA, Australia, Canada, Brazil, Europe, all over i hear the same story - family bought low and now the prices are 10x I think its global money printing and inflation. The governments / central banks print money, that money has to go somewhere. Assets like houses tend to be a store of value so the money goes there.
I’d also add, regarding to where I’m from Australia, that we have serious issues with money laundering which I’d dare say places a massive role too, at least for us. After obtaining the ‘dirty’ money, the landlords will lease these homes to the people to essentially claim that the now ‘clean’ looking money if from the revenue of the property.. and this is typically the beginning of the extremely diabolical scheme of evicting people, or setting prices to insane levels
Japan is different. Everyone wants to live in the big cities, especially Tokyo. And, the birthrate is low and immigration is low. You can get a rural or semi-rural home very cheaply but it will also probably cost quite a bit to renovate to contemporary standards. The language barrier is a big factor in keeping the homes cheap.
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
In the Bible, Jesus (or someone claiming to be him) said something like “is the gospel made for man, or is the man made for the gospel”. I love to turn this one on the capitalists by asking: “is the economy made for man, or is man made for the economy.” This video helps sort out the correct answer
A very simple regulation that could be put in place, is force a higher TAX depending on the ammount of properties you own. First time buyers / people who own 1 property are taxed less on the property. So a bank or big entety owning 100 properties will see their tax increased significantly unless they offload some properties. People who are getting into the market gets their first home on what is basicaly a discount in todays standard.
Hey friends! Hope you enjoy the video. If you're looking for a good way to support the channel (and get access to a bunch of cool content while you're at it) consider signing up for Means TV! You can find my content there, plus original series like Means Morning News and feature-length documentaries like Abby Martin's Gaza Fights for Freedom. Means TV is cooperatively owned, so all the creators on the platform have a stake in its success and a say in how things are done. By signing up using my link you're directly supporting not just me, but the entire cooperative media project. Check it out!
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Real question; MeansTV or continue SecondThought Patreon? I'd rather use my tight budget to make a change and know how you see it as best.
reganomics: endgame
Can you please 🙏 Do a video about Section 8 Rent to Own homes 🏡? Is it a trap? Can any of you fine gentlemen or ladies help with this information? Is it the cure for homeless? Is this a chance for the American Dream? Can we have a discussion here and hopefully a video can educate us on how this is even possible. Thanks to all who read this and know legit info ❤
Yes this was a repost. I'm really serious about finding all information about this ❤
How do we oppose them? What can we do to change the inequity in society?
Yet again, you found a new sponsor
But Hakim is still stuck in your basement
#FreeHakim
Did you at least bring him with you when you moved?
An elderly lady owned the last apartment building we lived in. She never raised rents, and people had been living there for years. She passed and a company bought the building. All of a sudden we were billed for our parking spot, for water and trash that used to be included, and the laundry room was going to be removed so that the building could rent you a washer/dryer monthly instead of per use. Thankfully we were already planning to move out since we inherited enough from a grandparent for a down payment in a house, because our rent was about to increase from all of the nickel and dime crap the new owner was implementing. They still won since they remodeled our unit and were then renting it out for hundreds more than we were paying.
You had where to go, imagine the people who didn't have a choice 🥲
@@189Blake yes, I understand, which is why I phrased it as thankfully. I am aware that I was privileged enough that the sale of a grandparent’s house put me in the position to afford a home and that I am able to work remotely where I didn’t have to stay in a place where the rental market is that predatory. I vote for people who protect the livelihoods of those who need it most and have not become a NIMBY.
While I sympathize with the tenants, perhaps they can look at the flip side and be thankful that they enjoyed many years of below market rent?
Based on what was just described in this video the “market” rent is way higher than it should be
@gr8bkset-524 no one enjoys renting. Especially younger people who want to stay family. Even old people retiring are not selling then renting is not fun for anymore. Landlord are cancer
Buying a bunch of concert tickets to upsell them back to people: Scalper
Buying a bunch of homes to upsell/rent them back to people: Investor
Can we stop differentiating the two?
apparently it's scalping when it goes backwards but investing when it goes the other way around
Ticket master does the same and isn't called a scalper for some reason. And they raise the price of the tickets.
the scalper is just selling the same concert tickets back to people. the investor is renovating the homes most of the time to resell it which takes a lot of capital and time
@@jester_kun "renovating" in the cheapest way possible with subpar materials and shitty quality. it's a waste of time, money and resources. home owners tend more likely to renovate for livability and quality
@@jester_kun no, the investor is definitely not renovating newly built housing that they buy brand new to rent or upsell forward. Also, as shown in the video, the investor will also intentionally keep some of the supply entirely empty and evict their tenants more to raise the rents of the rest of their properties more. That doesn't take any capital or time, that just takes being a selfish asshole.
I couldn't get section 8 housing when I was younger because I attended community college- going to community college or university disqualifies you even if you're poor.
Now I'm 29 and going to school, I still can't get subsidized housing because I'm "able-bodied without dependents."
There’s always something exclusionary,that’s what they kept telling me too
@@Maxry-v2y that's messed up
I'm from Canada. When I hear stuff like this, I just shake my head. They really do not want your population educated.
@@plantbasedsenior4240 yep
@@plantbasedsenior4240 yep
The only "mom-and-pop" rentals you see on the market now are room rentals or a microstudio in someone's backyard. And they still cost as much as an apartment a few years ago
You don't see them on the market because tenants of mom and pop rentals don't move out. My family owns one rental property and our renters have been with us for more than 10 years.
@@greg_216 this my mom got a mom n pop house as a rental we stayed at the house until the lady sold it so she could retire with her husband we stayed in the home almost a decade n even added personality to the house the eventually the new owner kept
That just isnt true. I live in Chicago and the majority of rentals are people with less than 5 buildings
If racism and classism didn’t exist we wouldn’t be here. Legislations like these were designed to target poor people and especially people of color. Plot twist, racism also affects the majority negatively despite how convincing the propaganda surrounding it may seem. I see wayyyy more homeless white people than I see any other culture.
Did you vote for Biden / Harris ? -- IF so, you voted for this !
I just think it's not okay to exploit basic living necessities for profit.
It's funny because even Adam Smith thought landowners were leaches, and he wrote the Wealth of Nations, capitalism's bible.
Agreed
You think correctly. Capitalism is a dirty game. No honour in that system that we were born into without consent.
Do we dare have brave change? Well, dare to vote differently, dare to organize communally and broadly along common dreams.
Vote Green, Stein/Ware 2024 who support a Green New Deal and against the US-backed ge n-0cide in Gaza.
Organize locally, see ways it can be done from Library Socialism promoted by Srsly Wrong Boys and Andrewism to Zeitgeist Movement and Ubuntu Contributionism. There are ways out. If we choose them.
I thought I was the only one. I really can't stand people that gobble up housing at 3 percent rates just to lease it back to the populus. I seriously wish there were a reckoning of some sort where the government started taxing these hoarders.
@@Ryan_hey Don't forget who can kick you off your land if you don't pay taxes on it - the government. Do you really own your land if you can be evicted from it by the government?
Cities need to be taxing empty units. The street in front of that building costs the city money whether there are occupants generating tax revenue by living their life or not and every city spends a fortune dealing with unhoused people so an empty unit represents a liability to a city. Tax the sh&t out of empty units until the price of housing makes sense.
I love this idea. It's a bandaid but an effective one and even makes logical sense. Also f's those algorithms encouraging landlords to have higher vacancy rates.
This is a great idea. However, the tax rate would have to be high enough to offset the profits gained by leaving them empty, or else it has no teeth. Kind of like the laughable fines we levy against multi billion dollar corporations that break environmental regulations. They would rather pay the fines than pay to update their infrastructure or change their practices.
Ever heard of LVT?
Technically it only needs to shift the opportunity cost of doing anything else with it. @@RDHardy79
@@RDHardy79just tax the mean/average rent for that housing, whatever is higher
And here's another side of this that's terrible: the existing housing inventory is being destroyed due to neglect. This is a hidden crisis unfolding in front of us. Housing isn't being treated as a place people live for generations and raise families in. It's now a commodity to be hoarded, traded, sold, and spun. It's wasteful to invest money in upkeep - genuine, deep, necessary upkeep.
The result is that existing homes and buildings are falling apart. Rotting from the inside out because banks, investors, slum lords, etc do not want to spend a dime more than necessary to keep these places barely livable. Even individuals who own homes, thanks to now looking at them as investments to eventually flip and trade up from, are not maintaining their homes like they should be. They don't want to spend when they're just going to flip the home and move out. At most they'll pay for a cheap surface renovation to make a property look fresh - but underneath it's decayed.
The result is it's becoming impossible to find a home even at a premium price that isn't a wreck. If a home wasn't built within the last 20 years, it is probably a mess. But prices keep rising and we're looking at the prospect of "million dollar flop houses" being the standard.
I have experienced the opposite when it comes to house age. Modern houses are built with much more cheaper materials, and only last 25-30 years before needing to be completely demolished and start over again. When someone gets a 30-year loan for a house that lasts only 30 years, they are losing all equity; in fact, losing more than they put into it when accounting for the demolition bill. Houses that are 70s and older tend to have better quality materials, especially the wood. You still have to look out for, and replace, things such as electrical lines and ducting, but that is still worth the effort. I bought a house that was made in 1977 that everyone else passed over for newer houses; most people only look at how a house looks instead of how its made. After two years of putting in the DIY work, I now have a very presentable house for a fraction of the cost most people pay. And it is solid in build quality and safety, not just presentation.
You described my dad. Just say waiting for my childhood home to slide off it's foundation someday down the hill into the driveway.
And even if it was built 20 years ago or less, it was probably done as cheaply as possible and will start falling apart within the next 10 years if it hasn't already
Even if you buy an older home you have decades of idiot DIYers doing dumb stuff with the best intentions. I bought a home and expected to be able to repair it to a livable state but I swear every wall, floor and ceiling I opened up I saw some new horror. Severed framing to run utilities, the wrong gage of wire used everywhere, asbestos tile covered up with linoleum covered up with ceramic tile, rotting wood with new wood just slapped over it, the list goes on. Don't let people lie to you that builders today are astronomically worse than builders of the past, just because something has been standing for decades doesn't mean it wasn't built by a low grade moron.
Check out the newer buildings in FLA. It's terrible everywhere now.
I'm stuck in burnout precisely because of BS like this. I can't 'progress in life' despite earning 1.66x the national average, having plenty of savings and still not being able to get any residency worth my while, EVEN OUTSIDE OF THE CITY.
Discussing explaining my qualms to my psychologist, I got told that _"we live in one of the wealthiest countries on the planet and should be happy with what we have"._ They're missing the point. I COULD afford a third rate piece of shit apartment at a quarter million bucks, but that doesn't mean that it's worth doing so.
In the end, this whole scheme is self-defeating and self-destructive. If people can't afford housing, the entirety of civilization will collapse within half a lifetime. Someone living on minimum wage can't afford housing, meaning they can't do their job, meaning that vacancy can't be filled, meaning no one will pick it up BECAUSE it's minimum wage and that doesn't get you anything, meaning the job that society is built upon will die out sooner rather than later, with all the dire consequences that comes with.
I do get really tired of hearing people spout the "you live in the wealthiest country" tag line. We live in the country that has the most debt, 35 trillion and counting. It is home to some of the wealthiest people that exists, but also home to the most in debt people that exist. Living in America does not mean you're rich, it in fact for an increasing number of citizens means you owe a lot of money while not actually owning anything.
@@Matok1 Thing is, I live in the EU, which is effectively a giant vassal state for the US. The 'Americanization' of the continent is nauseating...
I feel you. Systemic exploitation is hurting us all.
I've grown to view therapists with skepticism despite being pro-mental health help and talking things out. A lot of them pin the blame on individual people and refuse to acknowledge the inherent corruption in the culture.
@@badbabybear1 America has soul cancer. Other people are a threat. Tragedies are daily. Empathy is weakness. Your choice of products is the highest expression of self. We are forced to make shit we dont care about all day long and our compensation is divorced from our productivity. And all of this is daily told to us to be paradise, all the flaws in the system are simply failures of self. It is absolute madness.
@@badbabybear1 it's that way by design
They placate and medicated individuals so they can better cope in a sick society. Just like the medical industry it's about treating symptoms more than the root cause. I mean half the food industry is there to make u sick. I was thinking about honey and glycation... Honey is anti-bacterial and anti-fungal naturally (I saw it under a microscope no germs) because of the high sugar content. Your human gut needs healthy bacteria in order for your health to thrive. Therefore eating too much sugar would eventually kill all your gut bacteria and probably attack your cells because we have like so much bacteria and I really get diabetes now. Sugar also affects your brain as Alzheimer's is sometimes called type 3 diabetes. Sugar is one of the worst things you can over eat and it's probably in 70% of food in stores. Excuse my autistic rant.
The mobile home grab will always make me angry. My grandparents were outpriced and pushed out of their trailer park, and ever since they've been floating between my family, my aunt, and my cousin. And they STILL vote conservative!
This doesn't even go into my own housing situation.
Leopards ate their face
Jesus... It almost makes it hard to feel bad for them. Insane that they can be so brainwashed that this shit can happen to them and they have no way of understanding the real reasons why.
Well, there is nothing materially different between "conservatives" and "liberals " they are both right-wing neolibs .
And voting progressive surely helped California - oh wait!
Americans have been too stoopido to live since TV saint Ronnie Reagan. Voted themselves out of existence. Mission accomplished
bro the NYC montage at the begining and the typography was fire, keep it up
plus our walls are made of tack board and aren’t solid. our living spaces are extremely cheaply made
Quality has gone down as housing prices go up. Reinforces the point that it's the liquid asset that's valuable, not the physical one.
I’m paying $1100 for a half carport made studio in south Florida, only microwave I purchased, no furniture,made cheaply had too fix the plumbing 3 times, pay my own internet service,only air conditioner and its old
this is very bad with climate change exacerbating extreme weather events. the cheap houses built won't be able to withstand these stronger hurricanes.
yup....
there's not even insulation in the walls where I live. Few years ago they had to replace some of the drywall because it literally started falling off... and they could have easily thrown some fiberglass in there while the walls were already collapsed... but the landlord even then refused to insulate the walls of the apartment. So we boil when it's warm outside (because we also have no AC in here) and freeze when it's chilly
And we still pay thousands a month for this unit
I especially love when landlords label their paper thin walled apartments "luxury" when you can hear every little thing your neighbor does
damn, Reagan really screwed the world over huh
i just hope newer generations will know it started w/him. the current voting block hasn’t seemed to notice
frr every single time i wonder why something bad is like that in the us the answer is always ronald reagan
Leeja Miller has an amazing video called " Regan Ruined Everything" that really breaks down exactly what policies and how much they broke down America's economy.
Aww shucks wasn’t he just adorable,that’s what they kept telling the public back in the days
@@ishathakor The answer was neoliberalism. Reagan, Thatcher and the like may have been players in that plot, but that plot would've happened with or without them. Let's not lean into the American tendency to personalise things that should be correctly attributed to systemic causes. The channel adu has a good video on this, titles "neoliberalism was necessary".
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
Buy now, home prices will not go lower. If rates drop, you can refinance
The government will have no choice but to print more notes and lower interest rates
Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
@@williamDonaldson432 this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
this is quite huge! what have you invested in ? much more info needed please ...I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
big returns come from investing big. investing big comes from building conviction, conviction comes from understanding, understanding comes from doing your homework and research beyond surface level.
I want to start a Roth IRA before the end of the year. do you have any stock you would suggest to buy and hold long term?
Accurate! asset allocation is crucial with an Experts guidance. I have 850k in equity, 300K
cash earning 5.25 interest, 685k in 401k, 250k cash account, 120k in car assets ( paid off cars)
Gold and silver bars. age is 48. My advisor helped me realign my portfolio to my risk tolerance and it boomed overtime.
Impressive can you share more info?
My CFA 'Jane Marie Ising', a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.
No one can afford lawyers to fight the system in the lower classes
@@Maxry-v2y exactly.
Assuming they would actually fight and not simply pocket the money while pretending to being doing somthing, in order to not irritate the people in their class.
I was so desperate for a place to live I went to a trailer park..... the man asked for 1400 a month for a 1 bed 1 bath crack shack. I honestly think he just didn't want ME living there. You should have seen the trailer, it amazes me that it was even legal to live in, in that state of disrepair.
it probably wasn't, but most of the standards are only tested for if they try to rent to Section 8/housing voucher tenants. It wasn't personal. Someone who can't pass a credit check or make 3x the rent to live in a cleaner apartment will live there out of desperation. He's banking on that.
@@goldentreefrog18 it's always personal
Yup saw plenty of older slumlord apartments in my old college town expecting a few hundred less than new "luxury apartment" in the same area. It's so bad now that property managers will cancel scheduled tours because someone already got the apartment...cant even look at the place now.
@alexanderredhorse1297 I think it was personal because the price of rent wasn't listed online, only that it was for rent and to ask the landlord for more details. I had to find out how much the rent was when I got there... so I guess rent was on a case by case basis.
He saw me and thought "oh a college student... got'em"
@@GirtonOramsay fk America.
as an african you guys pay a lot for a cardboard
Brutal 💀👍😂
I mean it is wild these are the conditions in the richest nation in the world. No wonder some of them buy houses in smaller countries and move, at the prices in the US you can buy a house 3-4x better and live comfortably if you have a remote job or just passive investments for income.
The quality only gets worse with newer housing too...I lived in a 2013 building where the entire apartment shaked just because my downstairs neighbor slammed their door...thought I woke up to an earthquake once. You can literally hear every footstep from the upstairs apartment. I go out of my way to live in older buildings now
@@nfzeta128 Well they choose to spend their money they've extracted from their citizens into their giant military which they use to "police" the world and extract more resources in which a very slim minority lives very well. Off the hard work of all the working people.
@@nfzeta128 you can rent an 100m² apartment in Brazil for $400/month and spend another $600/month for basic living expenses.
I really despise the concept of "starter homes," as if shelter isnt enough and that you have to constantly be striving for more and more. Ridiculous.
Agreed. Part of that is what I call house bloat. Case in point; my 1965 vintage house was average size when it was built and was considered a "starter home" when we bought it in 2001. It was more than adequate for a family of 4. No one put a gun to my head forcing us to upgrade to a newer oversized house. Now it's paid for and I'm not going anywhere.
It ties into another quaint concept of only buying as much home as you need. Families with fewer people don't need as large of a house. As your family grows, you move into a bigger house. Keep in mind, it was common to have more children, and that might mean a span of 12 years between the eldest and youngest of six children. At some point it would make sense for a growing family to move from a 3-bedroom to a 4- or 5-bedroom.
So, yeah, starter homes were less about upgrading than they were about meeting families' needs in the present. With today's smaller family sizes, that might be an outdated concept.
I don't know, I have a fairly big house with 2 people living in it, but my niece needed a place to stay after her divorce, so we let her move in, and it feels pretty cramped at times. 3 adults and 2 kids in a 4000 square foot house. First world problems, I guess.
But if we'd gotten the size of house we could actually get by with, it would be untenable in our current situation. My niece is going to move out soon after 2 years, and the house is starting to look like a pretty good size for the 2 of us and our pets.
@@imnotmike I honestly don't get how that could feel cramped. My family used to live in a 1,400 sq ft house and there was 4 of us + a new born + sometimes a grandparent would stay
Starter homes? A myth, just like starter jobs. Starter bills don't exist. Or starter taxes. Or starter medical expenses. Or starter insurance. Or starter groceries. Or starter utilities.
"Starter" anything is a myth -- except starter wages. We have *all* of the starter wages in this country.
When my mother posted my grandparents home for sale after their death she immidately recieved soooo many offers that were all cash and above asking price. She ended up selling it at the asking price to a very nice local veteran, his wife, and their toddler who bought it using a loan type that is a lot more work to figure out closing the property. She wasnt going to be a sellout. Unfortunately so many people wouldve rather gone for those easy, quick, and more profitable offers.
Well it makes sense to do so you make more money
@@limitlessapocalypse2702 that's all that matters in America
The investors sometimes use fake families to buy property is the problem.
It should be forbidden to make a profit on basic necessities such as water, housing, food, energy. Or at least limit profits to a decent amount. The rich are getting into serious pitchfork territory. Update: add healthcare, education, ...
Cut out the middleman. Create well paying, stable, government jobs providing basic necessities, and do it more affordably than *ANY* private org could through massive economy of scale and no obligation to capture excess revenue for profit. You still keep all the benefits of a competitive luxury market competing on innovation, while ensuring universal stability, AND you don't give the free market idealists any room to screech because the gubmint is not setting price controls, it's just out-competing them.
Add in healthcare.......
It's not really a "free market" if it's a basic need since you're forced to pay. It's basically extortion at this point.
In order to do that you need special mechanisms that can be aplied everywhere but only affect certain sectors of the economy and life
That's why no government can solve the problem
This just won't happen. Americans are too conditioned or brainwashed to see that this is the only rational pathway. Conservatives and rightwing wired people will label it whatever word is scary to them at the moment (socialism, communism, Marxism, etc.) And that will end it. Meanwhile, they'll complain about all the homeless and "freeloaders". Then blame all of the problems caused by commodifiying basic necessities on immigrants, unions, taxes n big gubmint. The cycle will continue until climate change takes us all out or the right wing minded of humanity takes out humanity violently through war n genocide. It's unfortunate
Greed has & will always be the enemy of a civilized & developed society.
yeah just do nothing about it
Not greed, but capitalism
The will of the government/corporation is the will of the people. Anyone who disagrees is irresponsible of their action
@@Dave_of_Mordor what the fuck are you talking about. How high are you? What does this even mean
@@Dave_of_Mordor no, they get a girlfriend
Hey second thought crew, I've been using some of your videos (Walmart planning, east Palestine, etc.) to my university students and I'd like to say thanks for the content you make. Hopefully I won't end up on a list 😂🤞🏾
Fingers crossed! So glad you’ve found our videos useful ✊😁
Great work exposing young minds to truth that is often suppressed on our mainstream airways. Have you also exposed them to the concept of Library Socialism (see Srsly Wrong Boys and Andrewism)? or TZM, Culture in Decline with Peter Joseph? or Ubuntu Contributionism with Michael Tellinger? Just a lot of different options out there that people should be aware of, then they can make their own decisions how to proceed once they know.
There’s this 20 something in Australia who has come up with this incredible system… people just ‘happen’ to perhaps share the address of houses that have been empty for 2 or more years, or empty plots of land that have been unchanged for that long and those addresses miraculously end up shared to families who need homes… obviously we would never encourage breaking and entering, but if the neighbour who accidentally shared the address has a spare set of keys, that they drop in the direction of a single mum… well… wouldn’t that be terrible?
@@michaelward9201 Lighten up sunshine. Go back in time and look at how the wealthy, early settlers and Nobles/Aristocracy "got" their land. Squatting and having a King or Queen as a good mate was very enriching for some families, who still own huge tracts of land and buildings to this day. They never paid a cent for it, just took/stole it from someone else. This is no different, they are just using the empty land for now, maintaining it in a mint condition.
Guerilla housing. Love it.
Why not just build your own house Its really not hard to build a house watch a couple youtube videos.
@@morganhillfightclub2996 this is the most out of touch comment. To build a house you need somewhere to build it. Land is expensive. You need to be near somewhere to work, which probably means some flat land isn’t just available. You also need all the things that make a house. Keep in mind if your house isn’t pretty looking, it will be taken down by the council. You also need to be physically able to do the work- you need to be strong, and for that, you have to have food security, be well rested, stuff that’s pretty hard if you don’t have a home. You also need to have the time- which, if you are living pay-check to pay-check, you do not have, because every second must be spent earning, and if you have kids, that means the little time you aren’t working is spent with them.
‘It’s not that hard’ come on. Build a house, right now, using no expensive materials, that fits a family. Watching a couple videos doesn’t make you an expert.
As some who pays around 70-80% of their income on housing, the "recommended" 30% seems like an extremely privileged piece of advice.
how much you paying for housing?
The only time i paid less than 30% of my income on housing was when i was still living with my parents.
@@chilanyawow
It would not be a surprise if the same cruel CEO after this statement after 7:00 goes to his next official meeting declaring how diverse, eco friendly and social responsible his company is.
I also don’t like this American culture where the parents force the children to move out as soon as they turn 18.
Also this mentality where people refuse to live as a joint family. My MIL could easily live with us in our house and would save half of her income on rent but she’s been conditioned into mindset where she feels like if she moves in with us, she’ll feel she will no longer have her “freedom”
To be fair, it depends on the family. I lived with my parents as long as I could in order to save money, but I wouldn't go back to the constant yelling, physical fighting, my mom's hoarding etc.
making sure your children learn independence is the most important point of parenting. it is hard to overcome that hardwiring.
Living alone does not equal being independent. It just means you have to figure it out on your own, when it would be faster and easier to be able to learn from family. This is, of course, assuming you have a good, healthy relationship with your family, otherwise you're better off moving out, yeah. 😅 Plenty of cultures work just fine by encouraging multi-generational homes rather than insisting on individualism, even at the detriment of the individual or family. @@payasoinfeliz
I paid rent to my parents for years while I saved more than 50% of my take home pay for 9 years. I didn't get many dates but I did save enough to be on track to retire early. Also, my future wife still accepted me living at my parents because she is not American and found that this strategy made sense. Now we have a family in an affluent part of France and I don't make that much more than I did previously. It's just that I can relax because I already took care of my retirement be doing the very un-cool thing of commuting far from work and saving my money.
A lot of people care too much about how others perceive them whether they want to admit it or not. So moving out is perceived as the right thing to do by others while staying with parents is not perceived as "cool".
Ah capitalism. The best system on earth(which most people on earth can’t afford to live under)
people praise to capitalism cause they believed to live perfectly in the future. but everything is cracking in the world.
Have you been to any other country besides the US?
@@ThisDaniel yeah, I actually have
@@TheTransTankie Most people on earth don't live under capitalism
@@ThisDaniel hahahahahahahahahahaha yes they absolutely do you fucking moron
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
There are several independent advisors you could research. However, I have been working with “Annette Marie Holt for almost four years, and we get along great. If she appeals to your judgement, you could continue with her. I support her.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
I am an architect who has been working on low income housing since graduating from Berkeley 40 years ago. My career in this area has taught me some things.
The software tools and Wall Street buying up houses absolutely play a role, but they are not the fundamental source source of the problem. If supply and demand had nothing to do with it, house prices in rust belt cities would be the same as in tech hubs.
75 years ago, detached single family houses, duplexes, and small apartment buildings lived side-by-side, in harmony, and everybody had a place to live. The older residential neighborhoods got down-zoned to detached single family residential only (and the duplexes and small apartment buildings got "grandfathered" zoning), and the newer neighborhoods never did allow denser housing.
The automakers sold us on this notion that everybody could have their own little English manor house and live like a rich person, even though they weren't rich. The problem is, if you are only building four houses per acre, or less, you run out of land that is a reasonable commuting distance from urban job centers. The result is a shortage of housing near urban job centers, driving prices up.
If we went back to zoning that allowed all residential areas to have at least small apartment buildings and build larger apartment buildings along major transit routes, we could fix our housing shortage and have affordable housing. That would really screw-up the pro formas of Blackstone etc because their investments are built on the current shortage.
If you want to stick it to Wall Street, become a YIMBY!
This!
Very good, practical advice. This is something that's actionable at the municipal level, and that's a level where a determined person or group can do good.
You totally missed the point of the video. Even if you built all the housing to solve any shortage it would still be unaffordable because supply and demand are not what is driving the cost of housing. I live in a city that has just built a LOT of housing but rent is increasing instead of decreasing like you would expect. Housing should not be treated as a commodity, but a necessity and not able to be used to create liquidity in the market. I am also old enough that I watched my parents get rid of the house I grew up in because "rent is so affordable, why do we need to own a home?" That was a terrible decision that caused hardship for my mom for the rest of her life.
@@lesdmark My point is the point of the video is wrong.
If we built 20 million new housing units in the US in the economically flourishing cities, do you really think the software tools and Wall Streeters would be able to prevent falling prices from surplus supply? There's software tools and Wall Streeters in the oil market. Prices still fall when there is surplus supply.
I live in Seattle. We've been building, building, building. Over 20 years my neighborhood has gone from old houses and a few midrise apartment buildings, plus a couple of the old 'grandfathered' towers, to five new 25 story apartment towers. Rents have still gone up, a lot, because even though the new apartment buildings are full (I see the people walking in front of their windows at night), it hasn't been enough. Most of Seattle zoning is still single family detached and a piece of land that is zoned for a small apartment building is worth a couple million dollars, because there isn't enough multifamily zoned land.
That's how deep a hole we are in, which is why the Wall Streeters can move the market. If we fix the supply problems, the Wall Streeters won't be able to make what they consider a reasonable return and will move onto new markets (victims).
@@alanthefisher omg I can't believe you're commenting this. I knew this one didn't sit fully right with me. Glad to see your stance though!
The core problem with capitalism is that everything becomes someone's capital eventually. Because it must. Capitalism requires that 'capital' always be increasing. And if there isn't a sufficient enough influx of new forms of physical or intellectual capital to achieve that necessary level of growth, it must turn some facet of society into capital instead. Healthcare. Education. Housing. Law Enforcement and Incarceration. Communications. Transportation. Governance and Regulations. There's a running list of foundational elements of society that capitalism has already cannibalized to continue fueling its insatiable need for growth. But there's very little left for it to turn to that it hasn't already devoured, because capitalists have already hollowed out the American society's accumulated wealth. It's why they're accelerating and getting increasingly aggressive in their efforts to extract what little wealth remains that they don't already control or can't easily liquidate. Because America's economy is primed for a total collapse, and the big capitalists running the show all know it. They're preparing for the last chapter in this twisted tale of greed -- capital flight.
Except this is the opposite of a "Free Market" the app algorithm basically makes it a monopoly as there's no room for disruption via competition. Things used to get cheaper because tech advances and things get easier and companies can compete with their prices and the consumer would take the best deal. wasn't until recently have we seen everything just raise in price simply because there was a cartel and instead of competing they started working together to keep prices high.
@@screaminseaman6121 Because it became someone's capital....
this description sounds eerily similar to a scheme...of the pyramidic variety
Don’t forget the millions of children who will never be born because their parents think they cannot afford them.
The word cannibalize is key here.
18:50 BTW, a fun fact: the right to housings is included in the Constitution of the Russian Federation. But in reality, the housing is very unaffordable.😢
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Capitalism isn’t what you want, if you want democracy. 38 million Americans live today in poverty, and 60% live from paycheck to paycheck, while 9 of the 10 richest men in the world are United States (US) citize The US government is unconditionally supporting the genocide against the indigenous people of Palestine, against international law. Moreover, the US has consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. Therefore, the US can’t be the champion of democracy. On the contrary, the US is the biggest threat to peace! Capitalism is plutocracy.
I'm not from the US, but I hear alot that Americans live paycheck to paycheck because they live on debt, for example buying things they cannot afford like expensive cars purchased with credit card.
Would things change if Americans live below their means? Correct me if I'm wrong please
The Jews are the indigenous people of Israel. They were forced to flee when the Romans were successful in committing an ethnic cleansing of the Jews. 600 years later, the people who now call themselves Palestinians settled in what was previously the Roman province of Palestina, and what was before that, the kingdom of Israel.
Edit: My intention with this was not to argue that the Palestinians deserve what is happening (they don't), or that Israel is right to do what they are doing (they aren't), I am merely stating history that is often forgotten, obfuscated, or ignored. Both Palestinians and Jews have a rightful claim on the land, but to call Palestinians THE indigenous people is just wrong.
We live from pay check to pay check for BASIC NEEDS.
@@zigzag321go600 years later, I'm sure European zionists Jews live there
@@zigzag321go what came before the kingdom of Israel?
I'm from former Soviet Union. Housing was people'r right back then, my father as a young specialist got one bedroom apartment after few monthts as he started to work (didn't pay a single dime for it). Nowadays it's animagianble for working people. Sucks that my country doesn't exist anymore
Instead of saying some kind of American criticism of capitalism vs socialism, I'll just say that I don't think anyone knows the real solution... or else it would be working right now. Best of luck to you and yours.
You mean the one that killed and imprisoned tens of millions of it's own people? Ah yes, the good ole days..
@@DistrustHumanz I don't want to be mean or cynical here but a lot of good solutions aren't being taken due to them harming profits, they are not working right now because they are not being done. Still hope you have a good day
@@DistrustHumanz Absurd. We know the real problem: the filthy rich bastards who steal from us and keep our wages low. C'mon man.
Yeah, it really sucks that an authoritarian shithole was replaced by a mostly authoritarian shithole.
the median housing price where i live when my family moved there was $535,000 and now it is $1,400,000 😥. that is a change of 20 years
For me it was 250-350k 30 years ago. Now 1.2 million or more
Don’t forget the flippers are not helping. 2023 @ 1.2 and now selling for 1.6 million
Toronto, Ontario?
Where I live it used to be 100k for a move in ready really nice house. My parents house was 100k. 20 years later I’ve just bought my house in the same city and it’s a fixer upper in worse condition for 140k and it was the only thing I could afford. And it’s still 50% of my income, but it’s more expensive anywhere else… despite me making more than the average worker in my area. Shits wild.
@@ywlumaris Where I live, we bought a house for $355 K in 2003. We sold in 2020 for $1.2 million. So, you’re doing fine. BTW, the house is a simple 3 bedroom, 2 1/2 bath, no garage. For $140 K I think you can buy a parking spot here. Toronto, Canada
Every video you release I am glad that I can afford to send you a few bucks on Patreon. Thank you for doing this.
You are feeding into the capitalist mindset by doing that. Patreon is a capitalist pawn.
So basically apartments are now hotels.
Expensive housing drags everyone down, except the landlords. The more money people are forced to sink into just having a roof over their heads, the less they have to spend on everything else - clothes, food, entertainment, local businesses, travel, etc. It drives people who otherwise might just be struggling into outright homelessness, pushing up all the associated problems like drug addiction and crime. It destroys the fabric of communities by turning a big chunk of the population into renters who are forced to move every few years when the landlords want to jack up the rent, thus giving those renters no chance or incentive to put down strong roots or feel invested in the community.
We would literally ALL be better off with more affordable housing.
Being able to save for future, house ,vehicle, tiny houses are in 65/180 thousand dollars
As someone in their 20s who identifies as a conservative this video really had me thinking. Great video man
Glad you liked it! I’ve got a bunch more videos on the channel if you’d like your perspective challenged further
I was once a staunch conservative too, I know the feeling.
Good on you for taking other people’s perspectives seriously. That’s refreshing
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $375k to around $650k.
in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.
Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
😭 and you got people thinking just anybody can afford these homes, people barely can afford apartments with multiple rent payers. we are living in unprecedented times
I actually bought my first house because I couldn't afford to rent. where i lived rent was about 2k for a one bedroom, but the mortgage for a small house was about 400 a month.
@@bobowon5450 Its cheaper to own in the long run, the cheapest way would be to buy a plot of land and build an unpermitted tiny home then get the permits after the fact.
@@morganhillfightclub2996 I know a guy who did that. He is now facing many fines because the government determined he was better off homeless than in a small house
congratulations 👀@@bobowon5450
@@bobowon5450How much was your down payment?
another issue is the fact that lower-class people have also been tricked into believing they don't deserve these amenities.
A yes the magic numbers that decides if I eat today or not.
That part of the empty apartments is so true. Months ago, someone posted an article in Canada, about the "1.3 million empty Canadian homes". Since then , several different articles have been claiming the article was total bunk. But it holds true, because there are other articles coming out about empty condos in the major urban centers.
They're not units being held purposely to reduce supply. These were bought pre-construction, for sole purpose of a flip. The "investors" are now losing money on the sale, as well as having lost money, when their asset was delayed through the building phase. Some, have been reported to have lost half a million, because the sales have stagnated.
Canada needs system change, just like USA and the world, too. I would like to see community co-ops and mutual aid networks really take a coordinated effort together to rise up and build a new system, along the goals of Degrowth, Universal Basic Services, One Small Town Contributionism-type organization or TZM "A Viable Society" as proposed by Peter Joseph. I powerful mechanism for mutual aid is Library Socialism, talked about by Srsly Wrong Boys and Andrewism.
I know a good number of people holding onto empty houses. Why not? They will always appreciate and you don’t have the headaches of a landlord.
@@SC-sh6ux
In Canada, the PM passed a law that prohibits empty homes by foreign buyers. The law in effect now for a year, taxes the empty homeowners and stops foreign/non-Canadians of purchasing our homes as investment vehicles.
I just bought my first home (thanks to the gains the UAW got us last year) the couple I bought my house from turned down an offer that was $10,000 higher than what I offered. They said they wanted to give someone their first house and not sell it to a brokerage firm. I was lucky that there’s still some decent people in the world. But it is a horrible mess out there, the 3 other houses I put a bid in on are low all up for rent. Something’s gotta give!
Thanks!
Another big part is the Bush and Trump tax cuts which funneled money to the top 1%, who can then use their additional $ to purchase a 2nd, 3rd, 4th, and 5th house as a financial asset.... Or invest their new money into the stock market which boosts large corporations to purchase more residential property.
Just Bush and Trump?
@@mgg7756well Chump DID add 8 trillion to the natl debt (1.9 trill to we the people so we'd still *spend* and help corps. 2 trill for tax breaks for millionares and up, 4 trill for "pandemic relief" for the Fortune 500, and ppp for Congress)
All We The People got was inflation spiking in 21 after Texas froze.
Then nowadays they also hire some corporation to control their real estate either in terms of rent or investments otherwise. Either way that's more inflation of the market, because those corporations now have to make some extra profit so that rent has to go up.
Just the continuation of the corrupted rot of the US.
@@mgg7756 Actually, Reagan did cut taxes massively on the wealthy and home prices went up about 60% during the 1980's which led to the Savings and Loans crisis... But the Bush and Trump tax cuts were what caused massive housing bubbles this century.
How can you say that this isn't "normal"? By this country's standards, it would be abnormal to behave in a way that brought in a single penny less profit for companies and landlord.
I live in Thailand. I live in an older condo in Pattaya (a 5-minute scooter ride to the beach). It is all concrete, so the rooms are quiet (I have a video of the condo). I am on the ninth floor, so the sunsets are great, and I do not have any trouble with mosquitoes up here. I do not get much road noise because I am on the ninth floor. We have a large pool with a slide. There is a restaurant by the pool; most meals are 3-7 dollars. My rent is $207/month. I have a new wall unit ac. It works great; a guy comes out the same day to fix it if it breaks. I run the AC 24/7 and my electric bill is $30/month. My room is 270 square feet or 30 square meters. It has plenty of room for a single guy. I have no plans to move back to the States.
Aye, New Yorker mentioned 🍻
As a New Yorker fighting for tenant rights and advocacy, it's disheartening how every passing year tenant's rights erode. NYC is pro-landlord despite what most have heard.
i had to leave the 5 burroughs. i don’t know how people do it
@@nutmegriot209 I'm almost there. Went from the Bronx to Queens, and now the Bronx has started to become unaffordable.
@@pest174don't know how they expect this to continue when people only have so much money. Eventually the bubble bursts.
ive found supposed "liberal" cities can be pretty conservative and pro-capitalism/social elite underneath the surface
@@badbabybear1 NYC is one of the most segregated cities in the States, so I believe it. Just look at the corruption scandal with our mayor.
It's depressing how much power is piled in those plutocrats' putrid possession. They have no shame in Wallstreet, clearly.
Most of them have the same psychological profile as serial killers so it does make sense lol
Content idea: I’d love to see some videos talking about viable fixes and/or alternatives to evolve into as a next phase. What is the better path in you see?
I am so grateful to you. I am still in school, so I can't join your patreon, but I will when I am on my own. Your high quality videos never cease to astound me, and the information has always been amazing. I (like almost everyone else in the American school system) grew up knowing communism = bad, before I even knew what capitalism was. And my dad provided me with an upper middle class childhood, so I had no reason to truly question our system.
Due to being in the LGBT community, I've always watched more left leaning channels (because the only other option was being indoctrinated into hating myself), and I'm so glad that this is how it worked for me. This allowed me to ease gently into the leftist ideals. I was going down the leftist pipeline at a very slow rate until about 3 months ago, when I was radicalised. I have you and a few other creators to thank for this.
I don't know if this is what my ideals will be for the rest of my life, but I am so glad to at least be given the opportunity to see another perspective. So thank you. So very much. I know that you have brought a similar experience to many others as well, and I hope to see that continue in the future.
if you really understand the ideas of communism, it is foreve. To come to an understanding of communism = to come to a more holistic and true understanding of the world. Therefore, one cannot refuse more accurate knowledge, forgetting it voluntarily and consciously.
Communism is the highest level of social development of society and the individual.
It is very happy that there are more and more knowledgeable young people. Continue to explore the world. Thank you!
the school system tries to brainwash us to accept the capitalist system. people are starting to wake up with more informational platforms at our fingertips.
@kotassasinskiy3774 I cannot picture a world where I will no longer believe that something as simple as housing and food is nothing but a basic human right. However, for a very long time I could not picture something other than the capitalist society most of us live in today. I don't want to place myself into a box, and I will continue to stay up to date with information presented to me. A large reason I don't really want to say that I will always think this way is probably because of a trauma response, but I am not going to try to diminish this desire for change either.
Thank you for your encouragement! I know that educating myself to new ideals is right, but I also don't love the fact that I feel the need to lower my voice when discussing such topics in public or even around certain family members. I appreciate the validation, and I will continue to learn as much as I can!
@@moomoocow73 Thanks for the answer. Good luck to you!
Greetings from russian comrades!
The 30% on housing is part of 50% on bills rent and food, 20% for retirement, and 30% on living and fun (subscriptions, tv, trips, clothing, shopping, and furniture). I wish I had known that formula since highschool. Oh, and having a 1 to 6 months worth of basic bills, food, and utilities as an emergency fund in a high interest savings. That would have saved me some headaches.
Inflation loves emergency funds.
Keep your emergency funds in a high yield bank account for example Sofi bank or Lending club. If you have $10,000 and you keep it in a regular 0.01% they give you $1 If its a 5% account the bank will give you $500 a year just for keeping money in their high interest account. Thats $500 dollars you didn’t need to work for and it counters inflation.
5:58 they always say Capitalism is the best way of distributing goods and services, but every time the goods and services get optimized out of the equation.
people are inherently evil. if you give someone the chance to screw you over for profit they will. id rather many large corporations that are held accountable by the people and government than a government that isnt held accountable by anyone. absolute power corrupts absolutely
how do you reckon goods and services be distributed equally? who will regulate that? do you really think that whoever regulates it will be any less evil than whoever regulates it right now? of course you didnt think of that cause its cool to hate on whatever system we have in place rn
The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that our generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 54.
Safest approach i feel to go about it is to diversify investments. By spreading investments across different asset classes, like gold, silver, real estate, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert
I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too
I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.
Finding financial advisors like Lisa Grace Myer who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I am on her website doing my due diligence. She seems proficient. I wrote her an email and scheduled a phone call. Thanks for sharing
I never thought of eviction as an act of violence, but it's actually one of the crueler ones.
Read The Lost Beautifulness by Yezierska
That’s assuming we maintain proper shelters not to mention expansive programs on housing, halfway housing, debt consolidation, organized labor and really just anything to keep people literally sleeping on the street not to mention real methods of preventing crimes like human trafficking
This Real Page software clearly needs to be banned, & wages need to increase if rent goes up regardless.
Honestly, makroeconomically it is preferable for rents NOT to increase. Because workers demanding higher wages will lead to higher production costs in EVERY sector at once, which makes the whole country less competitive.
This us exactly what happened here in Austria. When inflation hit, the land lords lobbied heavily for inflation adjusted rents.
Fast forward 2 rounds of collective salary negotiations and whooop di dooop, Austias industry is suffering heavily from too high unit labor costs.
That is just a perfect example of the owning class shooting itself in the foot.
But of course the media blames it on the unions "unjustifiably high wage demands".
So it is everybody elses fault that we refused to swallow the losses that landlords should have taken in times of crisis, and now everybody (including landlords) suffers. Good job!
It's absolutely collusion, just by a different name.
It won't be banned, it benefits the capitalist class, and they make the rules. In fact it would be a lot better for them if we neved even knew about it
Class action lawsuit, return all excess to renters, pay reparations to people who couldn't rent
@@overflow7276 Almost like providing your citizens with basic needs makes everything better, even the capitalists' precious economy, who would have thought...
I’m been watching this channel since the lockdowns activated my villain arc shift from libertarian to socialist
I'm curious as to how lockdowns triggered a shift to trusting the government more?
@@trickydicky2
You really can't see how the pandemic demonstrated the many failures of unregulated capitalism?
*Redemption arc
@@trickydicky2 libertarian detected
@@trickydicky2Agreed since reichwing billionares of the corporate oligarchy and wall st *OWN* the Govt.
Benito called it *fascism* .
0:48 was personal😂
😂😂😂😂
Thanks!
I'm lucky that I was able to buy a house recently, but goodness gracious the cost of everything is so much. People can be like "oh it's a saving money/budgeting issue" but however much you budget, sometimes it seems impossible to build yourself up again. Amazing vid as always, love having my lunch break with a dose of 2nd thought
Did you 'buy' a house, or finance a house, because there is a difference. If you financed, then the bank owns the house. Please excuse my criticism if it sounds harsh; not trying to be rude. The common misconception of debt as ownership is a major issue in mass social mentality.
@DistrustHumanz I financed, so yeah, technically don't own it for 30 years
@@marissahondros5141congratulations. 😊
I feel like a foreigner in my own country after watching all your videos...
Thank you. I am an American citizen trying to seek Asylum in Finland. I have bounced between 4 states, in over 30 different properties, sometimes forced to sleep without shelter, due to lack of affordability and multiple, unfortunate, and tenuous, roommate situations. All I have for backup is my divorced parent's homemade trailer, which gets severe and traumatizing Elder Bug infestations, and dangerous indoor temperatures every summer; complimenting the constant threat of wildfires due to the incompetence of my state government. I shall be using this video to help support my case, while I seek medical treatment and psychological care for damage to my body beyond what I anticipated.
I guess, wish me luck. I know my chances are slim. America is deemed a safe country by EU standards. Still, I must try. My mother, also desperate in escaping the situation, is also struggling to find housing and work within the country itself. She has traveled West to East in search of stability with no luck. I am alone in seeking help beyond the border, but I refuse to suffer silently, as I watch everyone I love go deeper into poverty, losing what little they have due to the lack of interest in helping Americans like me.
God Bless America. Some of us desperately need it.
I know Finns and they're not keen on having more strain on their social systems.
Did you ever try temp jobs overseas? Might give good experience while being able to get out of the country for a while, may even lead to a full time opportunity, you never know.
I think what frustrates me most is that nobody in national politics is talking about this. I guess it doesn’t test well with people that otherwise wouldn’t know that corporations have been buying up all the housing units.
"Capitalism and democracy are not synonymous" - Immortal Technique
Democracy is also not automatically synonymous with good governance. Education is needed.
@@syrinx9196 We need less education and more people with good work ethic and good morals. If we had a stronger labor force housing prices would go down but its harder to find Americans that are willing to shovel concrete and frame a house. Too many people in society work jobs that don’t actually produce anything. If we got rid of the government bureaucracy and taxed the ultra rich a 15% more. We would literally have so much money to build massive buildings and infrastructure. We need less education because the vast majority of college graduates end up having useless degrees. Put all those people to work at construction sites and fixing our decaying roads. Why not build more railroads?
@@morganhillfightclub2996 Less education. That's funny.
@@syrinx9196 about 60% of Americans go to college but only around 25% of jobs require college, in fact vocational jobs pay more than most entry level college jobs. Working class jobs have a negative stigma around them yet they are safer careers to enter. You don’t go into debt and if you work hard you are pretty much guaranteed to move up in life the more experience you gain. I started working in construction at 14 I’m 23 now and own a home (with a mortgage). Alot of my friends that chose to go to college are working as waiters making minimum wage and in debt. Of course certain jobs require college such as doctors, lawyers, scientists, engineers, ect. But 60% of society does not need to go to college.
@@syrinx9196 It would be more beneficial for society for a larger portion of 18-22 year olds to learn trades and help build our nations infrastructure. Rather than have such a large swath of working age people rot their brains in college learning about “Gender”. Our education system is broken in this country they are phasing out shop classes and mechanics classes because of a BS stigma liberals have about “Dirty Jobs”. Look at the price of housing now vs the 1950s back then a larger amount of society was in the workforce constructing housing and infrastructure.
Thanks for the quality, relevant content. This is a good channel
Hot take, but the only people who should be allowed to profit off homes are the people who work to build or upgrade them. People being unable to afford housing because of private investors trying to squeeze out a profit is unacceptable.
When the US government encourages investing in real estate... people will invest in real estate.
Remember that the game of Monopoly ends when no one can afford to live on the board anymore
I do pest control for apartment properties. The quantity of vacant units on these properties is often insane. Just yesterday I was doing a full building routine treatment and out of 8 units 6 of them were vacant. That's excessive even by the standards I'm used to, but it's completely normal for 1 in 8 units to be vacant on many properties I service.
Agree with all of this, but also we don't build enough housing in most major cities in the US. The supply absolutely still has an effect.
Agree
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.
Lets goooooooo
You finally put citations in your description!!!! Yes!!!!!!
We do that every video, friend
But but China collapsing housing market, right??? Right???
@@Leo23XR it's a joke about western governments and their media lapdogs keeps running their mouths about how china is going to collapse any day now
It’s a joke about how people will still say China has it worse to fear monger communism even while thi nvm s in capitalism everything ny collapsing
@@Leo23XRthe Chinese government is purposely making their housing market crash because they plan on making housing a rights. But people in the west can't understand that and think the housing market collapsing marks the end of China.
China housing market is collapsing.
This statement has been fact checked by Falun Gong.
17:25-17:59 - THIS is what I've been saying for years! Wage increases, even universal basic income, isn't going to get us out of poverty, because the cost of housing will just keep going up. Landlords and landowners will just take more, take us for all our gains. It will never be enough, not until we can drive down the cost of shelter.
But there's so much more in this video that I barely understood or didn't understand before. Thank you for this deep dive and thorough analysis!
As someone who has studied this and other issues I say that this is THE BEST explanation I have ever heard.
Thank you
The median income in the U.S. is not 78k as stated by CNBC. That might be the median household income, but the median personal income in the U.S. in 2023 was like 42k.
And in Australia, something called 'negative gearing' makes it appealing to many upper-middle class people to hoard housing. As a Canadian who immigrated here, being a landlord to at least one other property is considered a life-goal for adults. Seriously. Almost every 50-70 something person I worked with at an office owned one or two extra properties, because they get massive tax breaks on them. That old saying about temporarily embarassed millionaires is especially true down under as they raise rents 100 PER WEEK every year now. I know this is a worldwide issue, but Australia is particularly heinous.
Same here in the USA
Only a few seconds into the video, but damn your editing is good JT. You've been making some very nice videos to look at lately, keep it up man
Loose money, loose laws, no protection for consumers, monopolization, speculation not taxed. Should I go on? Inequality did this and it's going to get even worse, the money hoarders are in control and the market is OUT of control. The best thing to do for an average person is to live in a camper for a few years until it collapses, worse than 1929. We can only hope.
So basicly someone is manipulating the real estate market unethically and no one is saying anything.
One thing that is happening in the area I live in (Ontario Canada) builders will set a price and then will not budge, a new home could go on sale and just stay on sale for literal years. Builders will refuse to sell a house that they built in a cheaper market cause people simply will not pay that much for a home when you can get a existing property for 10-20% less. The fact that governments are willing to prop up builders and do not require builders to sell after a given time has lead to a situation where in many areas (little towns and big cities) where a builder is expecting a certain amount for each property and will not adjust the prices based on the market which results in entire neighbourhoods of new homes being vacant in communities with many people looking to purchase.
It's almost like leaving your access to basic shelter in the hands of private actors whose only concern is their own profits, is a bad idea.
it's a very easy problen to solve, bring in hefty taxes on empty property for corporate landlords and private landords with more than a certain amount of property.
Removing much needed public housing, in favor of privatized housing, is some proper late stage capitalism.
It's already insane enough that homeless people exist when there are so many empty homes.
Having a roof over your head should be a human right.
Bang-on video!
1:27 The average American is making $80K? Damn. I didn’t realize how lower class I was until just now.
probably household income used to cover up personal income to make you feel poor and everything seem good
if the avg household is 2.5 ppl, that means the avg is like 25-30k
He was talking quickly so the actual headline was easy to miss. It's not that the average (eg add up all income and divide by all people) is 80k. It's the median.
He mixed up median and average. The average American makes more like 30k
@@ipickuptrash1640 I guess both of us should clarify median and average. Median more or less means "50% make less than X, 50% make more than X" while average (also called mean) means "Add up all income and divide by number of people." (Also how GDP per capita is talled)
And these can be very different numbers with very different meanings.
For instance, say we have a bunch of people that make: 1, 1, 1, 1, 1, 10000000. The median would be 1. The average/mean would be 1,666,667.
It would be a little disingenious to say that the average (as in, pick a random person) in that group) makes around 1.6 million. It'd be more accurate to say that the average person makes 1 and the other person is an outlier.
Now, one might ponder if the size of the US population, the range of incomes, etc, might make these numbers closer. Various reports have shown that most of the wealth and income in the country is held by a very small minority. That pushes up the average/mean significantly but doesn't really affect the median.
Or, let's put it this way. Bill Gates making an extra 100million dollars a year will increase the average. But that has zero impact on everyone else in the country making an extra 0.
So essentially they played Monopoly and realized the one who gets all the real estate first wins :|
Why we didn't put limits on how many properties could be bought is our own fault. We should have demanded that in government.
The scary thing is that the free-market 'solution' of pricing people out doesn't really apply here. The theory being if something is so expensive it prices everyone out then the market price will lower naturally until people can buy again. This won't happen however, because there will always be individuals or companies or investors with enough money to buy them up and turn them into rentables or AirBnB's, so the sellers will never price themselves out.
It is truly overwhelming not just the cost of housing the amount of shortcuts some of the builders were take to appease the Realtors!! Working in construction i e residential new construction I've seen firsthand shortcuts that closely rival 2:33 the fast food industry as far as overall lack of quality especially in the materials utilized!!
I just want to point out that on the other side of the globe, in Russia and Central Asia, the situation is exactly the same at 146%. Our rental prices are lower than yours in absolute terms, but they make up more than 50% of the average salary, and the cost of buying real estate is growing by tens of percent per year due to mortgages. Most have to work 2+ jobs to live comfortably. Capitalism is the same everywhere.
Global happiness.
This is, hands down, the best effort I've viewed here. We needed this. The 20s squeeze is pushing so many to the brink.
This has been the best explanation I’ve heard so far on why housing has become so expensive. Well done Second Thought. Bravo
Love your videos, man. So full of information. Eye-opening information.
Can I say this is a global phenomenon???
USA, Australia, Canada, Brazil, Europe, all over i hear the same story - family bought low and now the prices are 10x
I think its global money printing and inflation. The governments / central banks print money, that money has to go somewhere. Assets like houses tend to be a store of value so the money goes there.
I’d also add, regarding to where I’m from Australia, that we have serious issues with money laundering which I’d dare say places a massive role too, at least for us. After obtaining the ‘dirty’ money, the landlords will lease these homes to the people to essentially claim that the now ‘clean’ looking money if from the revenue of the property.. and this is typically the beginning of the extremely diabolical scheme of evicting people, or setting prices to insane levels
Japan is different. Everyone wants to live in the big cities, especially Tokyo. And, the birthrate is low and immigration is low. You can get a rural or semi-rural home very cheaply but it will also probably cost quite a bit to renovate to contemporary standards. The language barrier is a big factor in keeping the homes cheap.
The housing crisis in Australia is even worse, real estate agencies can make renter's bid for a rental with other renter's
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Could you kindly elaborate on the advisor's background and qualifications?
Annette Christine Conte maintains an online presence that can be easily found through a simple search of her name on the internet.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
God I'm getting more and more depressed by the day
Excellent presentation! 🎉
I am engaging bc engagement is good. I love your content.
In the Bible, Jesus (or someone claiming to be him) said something like “is the gospel made for man, or is the man made for the gospel”. I love to turn this one on the capitalists by asking: “is the economy made for man, or is man made for the economy.” This video helps sort out the correct answer
A very simple regulation that could be put in place, is force a higher TAX depending on the ammount of properties you own. First time buyers / people who own 1 property are taxed less on the property. So a bank or big entety owning 100 properties will see their tax increased significantly unless they offload some properties. People who are getting into the market gets their first home on what is basicaly a discount in todays standard.
13:39 best quip heard on RUclips this week. Awesome