THOUSANDS OF Real Estate Agents ARE GOING BROKE!
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- Опубликовано: 25 ноя 2024
- Real estate agents have had a rough time these past couple of years with how much the housing market has slowed down to the point where 59% of real estate agents are making far less than 75k/ year which you could argue is barely a living wage in today's economy. But also, Biden and now probably Kamala Harris' plan to cap rent increases at 5% per year is a horrible plan that will likely end up making rents even more unaffordable for the average American.
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The FED Just ADMITTED THE ECONOMY IS COLLAPSING! ruclips.net/video/sLDB9di9Zd8/видео.html
I have a couple of rentals that the depression is not up until a few years. How do I get around this if I sale? Kevin
That 'Beige Book' doesn't lie, like "Jawbone Jerome" and the BLS does.
(Bureau of Lying Statisticians).
Beware of the "Powel Jowl".
@@MichaelBordenaro geez Michael they said that a year ago when they raised the interest rates that they were deliberately trying to collapse the economy to get inflation under control
Can you please delete the spam messages with these bots trying to dupe your viewers into working with a scam agent? It's all over your videos.
Michael. RE those Realtor incomes you quoted. Are those amounts GCI before expenses, splits, taxes?
Back in 2007, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit. The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder's plastic still covering the carpets.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Credits goes to “Sonya Lee Mitchell one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
It directly impacts people's cost of living, which they immediately feel, inflation is much more destructive to individuals than a declining stock or real estate market. It is not unexpected that the market sentiment right now is rather negative. If we are to survive in the economy of today, help is essential.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
I believe I could benefit from additional assistance because I am having such difficulty navigating the market. Because the majority of my assets have already been sold, I may require some guidance on where to invest my money.
Please let me know the name of the investment consultant you work with and, if possible, how I can contact them.
My CFA ’Marisa Michelle Litwinsky’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.
I have the money but i refuse to pay for an overpriced home just like overpriced cars, they can sit and rot.
Exactly!!!
1000% right
I have two family members sitting on the sidelines and watching it burn down...Consumer debt is so High here in canada. Mortgage debt is not attainable as many will not qualify at today's prices.
Realtors literally stealing peoples hard earned equity from Americans.
If the house can be listed in the MLS it’ll sell itself if it’s in nice shape and priced fairly.
But they hand cuff people to get on there. Hope this new law fixes this flawed realtor system.
same, would rather the money be in an indexfund
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quite mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
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.
It's called inflation which = the depreciation of the buying power of the USD.
Those homes did not appreciate the purchasing power of the fiat is deflating and soon will be worth $0.000.
Annette Christine Conte 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.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA ’Melissa Terri Swayne’ , 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.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
I literally was out to dinner in July 2022 with my wife - and the table next to us were all realtors - they were talking business - one guy with a pour of whiskey was talking to the rest “I swear fellas hahaha they are out here fighting like dogs I tell you DOGS!!! Hahaha!” Literally laughing at peoples demise in buying a house like they were on top of the world… realtors can absolutely suffer for the attitude they have carried in this artificially inflated market
I hope they all spent their commission checks on huge loans and didn't save anything. This way they can hit rock bottom during this downturn.
It’s a tragedy but sometimes the demise of greed needs to happen to people in order for change to happen. I’m speaking about realtors that act pridefully like that.
I’m sure some are good people. But I’ve really grown to dislike all I come into contact with. They really harass as well! I’ve had to block a few. Found an older guy we liked, seemed great and pointed things out but we decided not to buy in the area. I had one sizing me up at a party. She knew we had a foot in the market because of my stooped friend, she’s looking at my watch, rings, clothing and then pretended to be my best friend 😡
Mark Baum:
I don't get it. Why are they confessing?
Danny Moses:
They're not confessing.
Porter Collins:
They're bragging.
@SomeUserNameBlahBlah yep, and nice expensive cars which will be repo'd
I can only speak for myself, but in buying two houses and selling, one, I never came across and honest agent concerned about my best interests - only a commission check. So am I concerned about how well they are doing? NO.
Someone once said “ when can you tell a realtor is lying?” As soon as he/she starts moving their lips”
I swear my realtor was in cahoots with the builder/owner of the townhouse I bought, even though I signed a agreement she worked for me.
@@maryl234 a realtor I knew wanted $25,000 to sell a property that appeared to be their only interest the commission
@@maryl234 wouldn't surprise me are they all apartments/duplexes?
Realtors are greedy, stealing homeowners money!!!
The "middle man" needs to be cut out of every transaction. People that actually work make far less.
Is investor/speculator middlemen though not the actual sales guy/gal.
What?@@MbisonBalrog
@@petesteensen3392 the banks are also middleman, CC processing companies, even Amzn, Uber/Lyft, DoorDash all middlemen
cough* fanny mae cough* lenders
Cutting out the middleman is a fundent of Communism. For example: Chairman Mao required every farmer to take their produce and sell it directly at market. Very inefficient.
I moved from Tampa to Santa Clara a few months ago and I’m thinking of purchasing a single family home there, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
Such uncertainty is the reason I don't base my conviction on rumors or a ''hearsay'' I have my day-to-day investing decisions being guided by an invt-advisor, seeing that their skillset is built around long and short term, both employing profit-oriented strategies and providing hedge against inevitable downtrends, coupled with exclusive analysis, it's near-impossible to not outperform. I've realized over $600k from $235k capital, since late 2019 just before the pandemic to date.
Mind if I ask you to recommend this particular coach to you using their service?
Just research the name Jessica Lee Horst, You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her name 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 call.
The bottom line is: THE PRICES ARE TOO HIGH!
Prices are too low!
Biden is gone…
My wife is a real estate broker of over 23 years. And she’d be the first to tell you, the real estate market is in deep 💩. Right now it’s been propped up by California and NY buyer and Miami-Argentina. But those buyers have dwindled. The current prices are far too high for working Floridians and even if you could afford it-do you want to pay 500k plus for a 2/2 with a concrete block exterior and a car port? Do you want to pay 2% in property taxes and 7k for insurance? Can you afford 3.5k a month for housing?
@@jobellecollie7139 not yet till his term is over then Harris will finish off trump...
It's nothing people can do, if they sell they have to have the ability to purchase another home, which is why people will keep their homes or keep them expensive.
The realtor that sold me my house didn't bother showing up to the signing because she was "too busy".
I don't care if they are suffering
Mine showed up after I signed chewing on a nasty toothpick what a smug loser.
I didn't even get a thank you from the realtor after I closed by email.
You guys why don't look for houses on sale directly from the owner .
i am selling mine now and looking for a buyer but they don't have that education to search for that very sad .
i bought mine myself and saved a lot of money 8 years ago
@@jc1979af It sucks if they still got the commission after not completing the process for you.
I didnt need mine when signing. Its just signing, all the terms were already decided.
Everything's going up except for my paycheck
People just don't understand what's going on.
You got to work more hours, than it'll get bigger.
and for guys like me that went down 70% because i am self employed. LOVE THIS CRAP!!!
@@timr31908 Hang in there pal.
@@VipernessWith employees not offering overtime it's hard to work more hours.
World’s tiniest violin plays. I mean don’t get me wrong, there are some great agents out there, but it’s rare these days.
Never met great/honest agent 👍🏻
@@mikimiki195 my agent was awesome. She got me an extra 3 acres and threatened the sellers that I would walk after being contingent for 11 months.cha Ching. Even though the 3 acres was swamp loaded with alligators, but it’s 40 acres away.
@@mikimiki195 another genious, yiu probaly have met one agent in your life. I would imagine you would be in the list of stupid clients.
It’s a shame. My husband was a realtor for 8 years and recently got out. The stuff I would hear was just wow. I could go on and on but the final nail was with us trying to buy our own house now. The listing agent didn’t even show our offer to the sellers. We’re 90% sure. Because we wanted to credit his buyer agent commission to get a lower price which would equate to $600 less commission for her. Our offer was $2k less than list when you did the math. That agent could have created a bidding war and got the highest price for her sellers. We REALLY wanted the house and wanted to fight against the other buyer. It was perfect for our needs now.
@@mikec7220instead of calling someone else an "idiot", learn how to spell.
Real estate should be flat fee for service. The work they do has nothing to do with the value of the house, and they did not invest in that house, bear the risk, and make the payments
@@genxx2724 Hello. Most realtors do get a flat rate or percentage of the sale. When nothing is selling their percentage is nothing. 😂
You think client looking at million dollar homes is same amout of work as client looking at 350K house?
@@dariodjakovic1600 What percentage of homes fall into the million dollar range? Those same realtors can sell cheaper homes too.
Ok. I'll flat fee it for you for 3% of your price range then ...
@@hvaball150I paid about 3% when I bought a townhome.
I will never feel sorry for real estate agents because there’s no effing way they need to get that much percentage off of sale of a house.
I graduated from high school in 1995
There should be a law that they should not get that much!
1-1.5% should be the limit
My buddy makes over $700k as a realtor, even now. He's certainly a talented guy, but $700k to sling cookie cutter homes in new developments? Really?
@@OtisFlint it’s crap
Perfect storm - inflation - high interest rates - inflated home prices - new rules on realtors commissions - high insurance bills - HOA - higher taxes - house of cards that will crumble!!
I think the Fed's mechanism works against the poor whether they are printing money (inflation and lower purchasing power with no appreciating assets on hand) or increasing interest rates (higher interest rates on debts).
Even 20 years ago when I bought my house, the bank told me I could afford more. I knew that yes, maybe I could afford it, but it would be tight. So I did not take out as much as they wanted to. I did not buy us an expensive house as they wanted me to. People fall into that. They give into the banks and the real estate agents try. Friend of mine looked for a house and the agent constantly took her to houses that were 20 or $30,000 or even more above what she wanted. I would’ve fired that agent.
Neiman Marcus wants me to spend over a thousand dollars on these incredible shoes....as much as I want I dont...
Year when I prequalified in the 90s they really wanted me to spend the entire $150k on a house but $70k 1500sqft condo in secure gated property suited me just fine since I hated outside yard work and travel a lot.
The way expenses have increased since 1993 I’ve made the right choice getting the smaller home that cost less to heat and cool with lower HOA,taxes,insurance,etc…
Many of my coworkers bought the 2k-4k sqft homes
We did the same thing. “Just because you can don’t mean you should” definitely applied in that instance.
I had the lender provide me with three different prequalification letters with three different amounts for me to use when I made offers. And no way was I going to buy a place that cost the amount that I qualified for. The agent I used after my first purchase advises her clients carefully. She tells them she wants them to get a home they are going to be able to keep. There’s no point buying too much house and spending money on furnishings and decor, only to lose it down the line.
^ preapproval letters, not prequalification.
I think private equity firms should be forced to pay exponential amounts in fines or taxes for unoccupied rentals.
Private equity should be banned.
These are the tools the oligarchs use to dismantle the American economy!
im tearing up for them just like for car dealers
used car salesmen are better because the money involved in the transaction.
Real estate commissions are too damn high!
Yes true
Burglars
They were always negotiable. I never paid more 4%
If thousands of agents are going broke, hopefully they'll leave to an industry that actually produces something.
@@cardinal8268negotiable yes but not everyone knows that and there was an example of an elderly woman who wanted to sell her big home after her husband died to move into a smaller home and they would not negotiate beyond 5.5%. I do not pity these people.
44% of homes are owned by private investment which has made the situation highly predatory. People are already paying far too much for a roof over their head as a percentage of their income especially in states like California and Florida.
Californians who move to Texas and Florida, can't handle the humidity, and come back eventually.
They got easy access to cheap loans during the money printing spree. I don't think the Fed's tools were designed to be fair.
I worked in real estate so I've seen the rot from the inside. The system needs to be overhauled so that realtors can be more like negotiators and less like predatory used car salesmen.
There should be a law that realtors should not earn that much!!!
@@ArtIsDrawing
As long as people don’t mind sharing the profits from their own home sale, then let them make that money. I’ve always sold my homes by owner, keeping that money to myself
@@cjhoward409 Exactly
Here’s my take on it. I rent. Since I pay an insane amount for rent guess who suffers…… I never eat out, I do my own hair, I do my own nails, I only grocery shop for necessities, I will drive my 2016 car till it dies, I have not spent one dime on a vacation in 3 years…….all so I can pay rent. No exaggeration here.
I'm with you. Before Covid it wasn't like this. The increased money supply definitely has a long-lasting impact. Time to practice austerity and simple living indeed.
That's been my whole adult life and only two vacations and I have always worked two FT jobs. It's been a pitiful life.
You need a vacation 😂😂 last year I went abroad for 2 weeks. It was wonderful. It was exhilarating and it felt like I pressed the reset button. I hadn't traveled in years because COVID happened.
Didn’t see this coming! I resigned from RE and became an electrician 2 years ago. Steady union job paying 170k yr plus pension and 401k. And the best healthcare I’ve ever had. Yes I have less free time but it’s time to buck up. This was so obvious…
I became a welder 3.5 years ago and I'm in a similar situation. Making $215k a year with pension with my union. Best decision I ever made.
@@1969bones69 that’s fair. I’ll be more clear. The journeyman wage is 170 a year (no OT). As an apprentice I’m at 65% pay level with the amount of hours I’ve worked. I’ve only had one weekend off this summer (4th of July) making mostly double time on weekends- so my initial statement isn’t far off.
My first year as an apprentice I still sold $215,000 in net commissions in real estate. RE biz fell off a cliff for me since. Anyhow we aren’t hurting at all because I skated to where the puck would be vs the people who recently became agents thinking they’d be rich. Game is cooked with new regs and AI coming to the plate.
Congratulations for getting out of RE and moving on to a better career
@@williamcady9652 thank you have a nice day
Awesome 👍 income, and benefits.
Real Estate will be all online in a few years. This is why after having my license since 1991 I let it go last year.
I used my license mostly for doing loans. Then Dad Frank came into play.....RUINED the loan business. So I moved to sales. Now that is going to automation and online sales. Listing is the only way to make money in sales and Personally I would list my house for sale on a listing fee website on MLS. working with buyers is total mess. Waste of time and gas. driving around to show houses then they fine one online on zillow or Realtor. your assed out.....no commission.
@@awakenedone2396 Make youtube videos. I have 3 channels. the only thing I can still do in CA.....until all of a sudden they decide I am to Political!!!!....probably the next big fail.
@@mikesrandomvideos Yeah, I've sold all of my homes via a broker that I just pay to list on the MLS for 100$. I do the rest (showings, negotiations, choose the title company,...) and avoid paying someone else 3% of my money.
You will own nothing world order WEF
@@mikesrandomvideosI used my license to sell houses I was flipping. Some people feel this is an unfair practice because the house costs more. My experience is that first time buyers can’t afford to buy and then renovate. With HGTV everyone expects a crisp grey and white interior with hardwood floors. Ditched my license because I was paying monthly for MLS, lock box, broker fee, it just was not worth it. I kept doing my own staging and having a photography/drone background I am able to take care of marketing. I have an open house and usually sell the first weekend.
Aww, the poor realtors.. NOT.
exactly had my license since 1991 let it go last year. Over for me.
My heart bleeds purple paint for them.
indeed
Realstate agents are going to be replaced with ai
They work hard. They deserve a good pay . . . unless they work only two days a week, then it's a gamble.
Like having pity for car sales people
And lawyers.
I never thought of them like that....
What was the comment. It must have been good if the laughing police deleted it
It's a meat market!😮
@@jkmarshall3553 And Judges
As each passing day goes by, I run into more and more people who are leveraged to the hilt with payments of various types. All are 1 paycheck away from losing it all.
Michael says they cant make enough money to provide housing for the masses. Also says govt intervention is bad and ANTI AMERICAN. So wanting to have a place to live for the workers is ANTI AMERICAN? LOL😂😂
What’s insane though at least here in California, I still see people buying expensive cars as if they were 50% off when they most likely overpaid for them. As an example, I saw this dude that has a landscapeing business driving around with a Raptor R (100k+) car and I’m just like bro? Your good? I sometimes feel like asking people like that “when will it ever be enough for you?” Seriously though why are people making such vile purchases in such a time as this.
I understand any car/truck purchase under 55k but after that, it’s like, was that really a good idea? Was it even a need?
@@anonymousdogg1559
I only understand a car purchase under $20k used with cash.
Maybe under $35k cash in a few years with my next used car.
@@anonymousdogg1559 everybody I know in Charleston, South Carolina is doing great.
Realtors are at the top of the list of people that are despised.
Doctors, lawyers, politicians, and ...
@@marklane870 dentists
#1 Democrats!
I sold my house 2 weeks ago,I had no idea how sleazy that industry is. A lot of underhanded stuff.
@@HJM49125 Cultist MAGA
There is too many realtors there has always been too many realtors
Realtors greedy!
A friend of mine is a multimillionaire agent. SO... it comes down to how smart you are in every market you delve in.
Yes that's what he said. 41% of realtors are making $75k or more
Its always been that way@@J.James-Bowkey2830
You always make me smile, thanks for your videos.
Are you a BOT? 💀
@@mpumelelobeyers957 As likely as not be be an OF-bot...
Financial collapse makes her smile... Oy. 🙄
Very little education is needed to be a realtor, Many know nothing of buliding codes, electric plumbing. They are like a used car salesman, only a LOT more money is involved. The title company does 90 % of the real work. I'd rather buy from a builder.
Ah, but a realtor needs to be a very good liar.
Stop
Not sure where you got that. Title companies do not do that much work.
@@truthseeker1959 Only the sleazy ones. A lot are not.
@@mikefleek9259 The agents job is not to serve as your building inspector or a contractor/adviser dummy.
Houses should be lived in, not seen as a commodity.
F that. I'm a landlord and if you think what I do isn't God's work, then you're the typical entitled complainer. Don't be jealous that I collect money every month.
I bought two homes to live in.
Two rentals for investment and income
Land and homes are always our best interest in the long run. Cars and boats… nope
@@cjhoward409Actually stocks and mutual funds are a better long-term investment. They take a lot less work. Being a landlord sucks.
It's just that during the money printing spree rich investors had easier access to very cheap loans.
It's just greed. Landlords, insurance agencies, governments. Realtors. Just greed
Once inflation reared it's ugly head and Biden shut down our oil production it spiked. Now everyone got on the greed bandwagon. I'm old. I have seen this happen several times.
If it's greed, choose a cheaper alternative. If there isn't a cheaper alternative, then it's the fair price.
Down exclude sellers. They are the most greedy in Boom markets! They set the price. Time to give all those gains back!! Buyers market on the way very soooooon
Realtors greed!
@@JackT-nn8iy It is only because realtors steal homeowners money after selling the house, so that is why houses are expensive!!!
Of course you know there all kinds of other people who depend on sales, it is not just Realtors. Appraisers , Inspectors, all the office support, design, photography, tradesman of all types and the list goes on.
Yes, it’s going to be a chain reaction. The train coming down the track. It’s gonna collide for everybody.
Car dealers
The economy will not be impacted by realtors, appraisers and office support losing work. Tradesmen didn't have a huge boost since most homeowners DIY'd their work.
RE should not be so big everyone depends on it. Is large ticket item. Should be niche industry.
That’s why when I had a young newlywed colleague making his first purchase and getting very stressed about last-minute demands from the lender, I told him to relax. I said, “Both real estate agents and the escrow company want their commissions, and they are going to make it happen.”
I once had the most ridiculous last-minute demand, and at the same time we had discovered my dad had a brain tumor, and I was in the midst of transporting him to a major city to stay overnight and see a renowned neurosurgeon in the morning. All of a sudden at 7 p.m. Bank of America was demanding a GAS BILL of all things to show that I was paying for the utilities. Are you effing kidding me? The gas has always been my the cheapest bill to begin with. It was probably $35. This was the fulcrum on which approval rested? And at the last minute? That couldn’t have been on the list of things they needed initially? I had a $400,000 down payment and top credit, and a gas bill was going to hold up my closing??? I am concerned about security, so my bills go right into the shredder after I pay them. I did not have the gas bill, I was on the road, add to top it off, it was raining cats and dogs. Totally outrageous.
Listen man. Wages have been stagnated for 43 years. Please stop. This is a really big problem
Michael hasn’t a f--g clue about stagnant wages or doesn’t much care. Normal adults with children (unlike Bordenaro) have an especially hard time getting by, through no fault of theirs, with wages falling behind expenses in real terms for so long.
When wages stagnate for 99% of the people,and rise for 1% of the people,then that is called THE THEFT.
@@Johnnie-d9b exactly. Listening to someone who has never had kids try to explain the economy is becoming a joke
I love how the government and media were celebrating a reduction in inflation last month, which occurred because wages rose less than expected. Talk about disconnect.
Life on Credit - "St Peter don't you call me, 'cause I can't go, I owe my soul to the company store..."
So called Real Estate Agents. Screw those fools.
You are right. They’re just sales transaction people. They’re not authoritative about real estate, geology, construction, etc., and they don’t advise. This is with very few exceptions.
I am a real estate agent, and I do it on the side. There's no way in hell I could make a career out of it.
damn that says alot
Wherever you’re at while you’re walking. It sure is beautiful… and you have interesting true information that I like to listen to and learn from ..☺️
I’m cool with discouraging investment properties
I sold my house in Salinas , Ca. Realtor agent and photographer worked together to steal over 7,000 dollars in property items.
Confront them.
@@debbiec6216Stop the drama Deb. Most people can be trusted))
Realtors are greedy and steal money from homeowners!
Report them to realtors!
I’m reading a few books from the library to learn all of this real estate stuff. It’s free
Rent control is the result of the landlord greed in the recent years. They didn’t have to raise rents $500+ on good paying tenants.
Mine went up 25% the last three years. I can't wait to leave this year and let my landlord deal with a tenant that doesn't pay on time, constantly complains about minor things, and destroys his property!
They have to raise rent. Property taxes, insurance, maintenance are up for them.
Exactly but they do cause they can. Everyone and their uncle got on that bandwagon.
It’s the cost of the landlord borrowing money to buy “cashflow” property. They have to raise rent
in CA as soon as they announced rent control LLs raised rents to the moon. Not a good idea. stopping corporate and foreign buyers of homes would probably do more good than rent control.
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in either stocks, real estate or gold.
Portfolio diversification is very advisable in the investment plane, well I think you need to get a financial expert to assist you with the best financial goal.
Right, I delegate my day-to-day investing to an advisor ever since suffering a major steep-down late 2020, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments
@@rmainejOnce you hit a big milestone, the next comes easier.. would you mind dropping info of your Investment-Adviser please? I'm in dire need of proper asset allocation in order to achieve an optimal portfolio till year end, thanks in advance
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Tara Elizabeth Stewart" for years and highly recommend her. See if she meets your criteria.
TARA ELIZABETH STEWART is a hot topic even among the finance elite in America. She's just a search away(on the net)
Tough sh**. Typical approach, entice you with a big number for your house. Reduce the number and sell, putting unearned bucks in their pockets,while you have to suck it up.
They also advise people to make expensive improvements that do not increase the seller’s profit. The improvements make the house easier to sell, and the price, and therefore increase the real estate commission. They do not increase the profit for the seller, however. All the seller gets is the cost of improvements back, and he endured all the aggravation of having the improvements done. Namely, kitchen and bathroom remodels. These do not increase profit.
Yep..
Whenever they try to pass laws like this, they never think it through. On the surface, it sounds like a wonderful idea. But when it gets down to the nitty-gritty, you find out that it’s a terrible idea and will end up actually hurting the people that they say it’s supposed to help. it was extremely obvious with the $20 minimum wage. I think that’s a little harder to understand on this topic for some people like me that don’t really understand real estate much. Government intervention is almost never helpful.
Rent control has been shown to destroy whatever area it is implemented (perhaps this is on purpose). But here's the thing, it's the greediness of landlords that got us here. If they raised their rents at normal rates, this wouldn't be a national discussion.
I. They know exactly what they're doing. They're trying to destroy America on purpose.
That excuse doesn't change the fact that rent control doesn't work. And of course renters, who don't pay property tax or maintenance costs directly, don't understand why rents are going up and blame it all on greed.
I gave up on being an agent after 6 months. Sold nothing. Made 0$
don't feel bad , my spouse sold a few homes back in 1980s and the economy at that time , was really bad , but NOT AS
bad as it is now !!!! He end up looking for another job , which was better , at least he had an weekly income and
stayed there for over 25 years.
In my own opinion, the economy now , it's worse than, I have ever seen it .
We are doing fine, for one reason, we lived within our means, just NOT above.
Paid debt off at the age of 50 years old, and continue working and saving $$$$ for retirement.
I am an agent...for a different line of work, at 71.
You got it at the wrong time brother just like I did on every damn thing I ever did
How come you didn't sell any homes ?!? Are they in the ghetto area or are they too high !?!
@@cancel.lgbtq.6892 I really like your call sign. 2024
Michael, great analysis of that realtor survey; particularly that the second, third, and even the fourth and fifth reasons can be explained by "prices are too high". Categories "mortgage rates might come down" , "prices might fall further", and "difficulty in finding the right property" (VALUE - amount of house for the $) are ALL closely related to those obscenely high prices. Even mortgage rates (for those financially illiterate individuals who only worry about their "payment") - a lower price equals a mortgage rate cut. If those categories are added to the first one, it totals to 86%.
In short, IT'S THE PRICES!!!
I was paying 820 something a month for rent in Texas in 2017 now im paying 1150 for the same 1 bedroom apartment and wages haven't gone up. This should be illegal. As well as people moving from California to Texas and deciding to hike the rent up on people that lived here their whole lives. It should be mandatory to have a state ID and be a resident of that state for at least 2 years before you can legally own a home there.
40 yrs selling real estate. I'm damn close to moving back in with Ma.....her meatloaf is decent! Timmy C Arizona
I think there is a Timmy kramer.on utube who travels..fun guy to watch
You should have saved your money and not squandered it while you was making it like most of us that are smart did
Hey man - Nice to see ya over here, too!
Anyway, cutting costs = more money made, and you can take care of her! Win-win!
At least some of us don't have that *BIG* cost...
Realtors are worthless. If I can sell my house without one, literally anyone can…Saved over $15k.
@@dingdongdaddy589 just go to a title company, look at the money you save. I did it. 😲
How to be a realtor (free course):
1 - Take pictures and upload online
2 - Answer a phone to setup a viewing
3 - Agree on price with a buyer
4 - Have a title company ensure all is good
5 - There is no step 5, it's really that easy.
I wouldn't say they are worthless. There are property showing and legal documents that not everyone is capable of doing, so having a realtor to work through the entire process makes life a lot easier. But I do agree, if I could save over $15k from a transaction, I definitely would.
@@SomeUserNameBlahBlahWhat about paperwork? I signed a lot of paperwork when I bought a townhome.
@@SomeUserNameBlahBlah
Lol you know nothing about Real estate and it shows with your comment. There's much more to it than that but you don't realize it
Up front now with all the fees to the local real estate boards, the lock box fees monthly, the malpractice insurance required, for a new agent getting into the field it is about $2200 including classes, licensing … then you don’t get a paycheck until you close a property. You spend your weekends working mostly, and if you are on the relocation team you are locked in at the drop of a hat to quickly find and escort out of town clients to properties. In our market many chose to buy in MO because IL property taxes were sky high! You still spent your time and money to pick up people at the airport or hotel and did your best. That also included taking the client to lunch or dinner.
I retired after 16 years. That was enough. Time to focus on the grandchildren❤️
@@Inga464 Buyers agents need to be paid a retainer. Weed out the losers and tire kickers.
And no guarantee of a sale, so working not even for free, but for a loss!
If rent is going to be capped, then property taxes, insurance, utilities and maintenance need to be capped.
Who’s doing all this capping?
But they won't, because government wants their $$$. And then they'll wonder why nobody is building apartments.
Yup. Price caps are a doom loop that always lead to shortages. Every time this has happened in history it turns into a disaster
Every aspect of this country, is pretty much one big ass fucking.
Thank you to our host for this walk-around outdoor segment against a water background. Always learn a lot
Everyone is buying vans to live in now days . No need for homes anymore that the bank might take away because you lost your job . 💯
Van costs a nice down payment on a house
The majority of Real Estate agents have always been broke. Most people don't make it past 2 years after they get licensed. 10% of realtors do all the transactions. That is how it has alway been and that is how it will always be.
All this turmoil and uncertainty is stressful. Some people deal with it by making small, frequent & irresponsible spending decisions, be it a car, vacation or eating out etc. It’s short term comfort but adds up to a devastating price if things go sideways.
Big difference between eating out and buying a car.
It results and their having to work longer, potentially remaining miserable, instead of retiring. Don’t all of us wage earners actually want to buy our freedom?
Realtors are the trash of the home buyer/seller world,all about making big bucks for doing a little paperwork and opening a door for you.
A few more weeks and by by too most Realtors.
Years ago the realtor knew everything about the house and could answer any questions. Now they open the door and close the door and don’t know much about the property at all.
I’m waiting it out to buy my first home. My credit is on point and income. I will continue sipping my tea and eating my popcorn.❤
Look for houses that are on sale directly from the owner
i have done it 8 years ago w 0 % commission
and now i am selling it myself so good luck to me its hard but no MLS NO REALTOR i will be positive
@@Nournourhayati409Good luck with the sale.
45k is plenty for me. I was at 68k and gave it up because it was hard work and more than i needed.
I do not feel bad at all for realtors. And I feel bad for landlords because this is not an easy job!!!
F landlords too.
@@SomeUserNameBlahBlahWho do you rent from then?
@@BREEZYM6015 We need rentals. But what landlords have done in recent years has caused them to earn the hatred they now get.
Landlords actually have property at risk. They are letting someone have possession and control over their investment. Realtors have zero skin in the game.
@@SomeUserNameBlahBlah You can become a landlord than if you think it is so easy!
Everyone I know in Real Estate...in 2008 left and went into banking..or back into banking..they rotate from real estate to banking..
I was a mortgage broker, the Loan Officer's did so much more work on the loans, while the realtor's show a few homes and draft very simple paperwork for huge pay. The realtor's have driven up home prices for many years. I don't feel bad for them.
Beeing a real estate agent is not a galmorous and rich making job like all those tv shows try to sell us!
Dude, ain't they all Million Dollar Hollywood Agent?
@@tizzx4945 it is if they’re in NY or a hot market location like Cali. or selling corporate property.
Just like mlms like Amway lol
I agree that’s fact 💯
Bullshit? What you do is sit at home and wait to show a house. Gee real hard work
The US has lost a ton of good jobs and added a lot of low wage jobs to keep job numbers up over the past few years, and yet the cost of living has continued to go up, rather than adjusting to people's inability to spend. People are tapping out on savings, and something has got to give. The rent, groceries, health and dental, transportation, insurance, and everything else are too damned high.
Something will give. It’s called sedition.
Well, when people stop spending, something will happen. People, however, are too busy burying their financial futures.
@@Nick-ue7iw A lot of the spending nondiscretionary and on basic necessities.
This is what happens when too many people vote for pro-business and pro-wealthy politicians (most are Republicans, and a good number of Democrats fit that description as well).
Yes because inflation has been positive throughout. It means since 2021 things keep going up in prices from the peak inflation although at slower paces. People are beyond stretch now. No relief.
The new book The Bubble That Broke the Bank will last from 2026-2031. This is at depressionary levels and shakes out the majority of weak real estate agents. They need to use the research to survive.
Michael, I understand your concern. I find basic costs repulsive these days. Also, real estate agents typically have not gone through the perils of getting a 4-6 year college degree. Yet they want 6-7 figure incomes because they have a real estate license. I was taught very young to educate, invest and learn the value of compound interest. I know things are expensive today; that was expected. $100,000 use to be something; now you need $10,000,000. You can thank your government for deflating the dollar. This is the problem. I understand your predicament but many people have brought that on themselves. You must work for your money and/or start saving early and investing with some deep thought. It's really as simple as that.
If you rent control to the point where people cant make investments in rentals, you will have less rentals long term and demand will be higher for them.
When you have no rentals, that will be fine. But be prepared for the ramifications.
Rent never goes down , screw those developers
Yes sell the property. That’s the end goal. More owners less renters ❤
You have a unique name.
End goal is that only govt and big corporations own all properties and everyone will be a renter.
Institutional investors will buy up the properties instead.
@@BREEZYM6015 it’s fake. I stole it from a guy I know
@@dvaritek434 okay
I wasn’t that impressed by our real estate agent if I’m honest. The person who cares most about your house is you.
There are just as many agents as there are homes for sale in some cases if not more. In Toronto like FLA the Condo market is DED people cant give em away and yet nobody will lower the $$$......Hmmm
To build a house right now it’s almost $200 a square foot. The only way to make housing affordable is if the houses were built outside of this country and then ship back and sold at a cheap price.
And the money they do make , they don't deserve 😮
Facts
I love the thought of box wine middle aged sloppy soccer moms playing "big city girl doing business deals" getting fired or going homeless.
@@SomeUserNameBlahBlah 👍Well, getting humbled anyway.
You're right Michelle... the real estate market is doomed and every realtor needs to quit today.
This!!!!
Michelle? Obama? 😂
We people as a society have gotten so stupid. We give sweeping mortgage moratoriums and cap rentals. And we wonder why things are bad?? To many politicians are soooo smart
Real estate agents are absolete now. I own a lot of rental properties and just list them on Zillow rentals. It's a cake walk. Zillow does background and credit check, the prospective tenants apply online through zillow, it does everything. With buying/selling owners can just list their own properties and field the inquiries and schedule the showings. If I'm selling a $1 million home, why would I ever pay a real estate agent $25,000 for showing my house for 5 minutes? With technology now, I don't see the value in what they actually do.
If I wasn't making enough money in the real estate market; I would put my job on hold and pursue a field that is in demand.
you would and so would I but many of these Realtors have no useful skills.
As in any business, landlords HAVE to make a profit or THEY'RE out of business. And as Michael pointed out, rent caps work AGAINST renters by keeping new apartment units from being built. (Think San Francisco.)
Another commenter from San Jose said they are currently building new apartments in San Francisco.
Nowhere near enough to keep pace with demand, and those new ones rent for ungodly amounts.
All those "record price per square foot" sales made it so doctors and lawyers can't afford homes, let alone the rest of us
I was looking at jobs on indeed in my area.
Engineers are getting $28.
Engineers are lower middle class now.
clear indication of a bubble
@@skippyzkwhat kind of engineers ?
@@skippyzk yikes..M
@@skippyzk I just hired a structural engineer for 500 an hour. Worth every penny.
A huge contributing factor to the slowdown in home sales is largely due to the fact that over 60% of homeowners have mortgage rates below 5% and many of that cohort refinanced in the last few years and currently have mortgages that are below 3%. People are simply staying in their houses longer with their historically low mortgage rates.
Keep it coming
I live in Los Banos California. A few days ago, i got a notice through the rental company, from my landlord that I have 60 days to move out because hes selling the house. But now im wondering if hes just using that excuse to get me out so he can then "change his mind" and keep the house and then rent it out again for more money.
I know that sucks, but unfortunately, I think you will need to move on.
Those unsuccessful part-time agents should find a different job. Real estate agent should be a full time career.
Look how much comission the real estate agents made during this stupid overbidding crap.
The reason they have so little business now is because they did all the business in 2022. Everyone who was qualified to buy a home at that time so in a hurry, and they are all situated now.
Some realtors don’t care because they wanna quick sale
Oh no, realtors are financially struggling? In the words of Justin Timberlake "cry me a rivveeer".
I must say that you get to see some of the nicest scenery out there. Lucky for you.
Just imagine if JB or KH holds the office for 4 more years. Sigh! If they want to cap the rent increase to 5% per year, they should do the same for the home/auto insurance, property taxes, and utilities.
At what point does the government just absorb all of them?
Greedy sellers and foolish buyers, exacerbated by equally greedy realtors who keep pumping prices. That's what got us into this ridiculous situation with home prices often doubling within a few years. Hope the inability of the fools to buy at these obscene prices forces them to wise up, like you keep saying. Plus a few hundred thousand more realtors need to quit.
They are building apartments like crazy in the Boise Idaho area. Because of this, my rent has not changed in 3 years. I hope they continue to build apartments.
I actually like the condos they have been build where I live the past 15 years.
They are built more like modern condos quieter without shared walls and whatnot. Gated property,personal garages,nice island kitchens,in unit laundry room,etc..starting at around $1400/mo.
@@blackworldtraveler3711 Right on.
They've started buying whole neighborhoods here, all run down, leveling them, and building nice new apartment blocks. Now they just have to keep them nice.
Many brokers who are aging out just keep their licenses to run their own transactions and those of family members. Many housewives and divorcees see real estate as a low entry industry education and cost wise, so they get their license and never sell anything when they realize how cutthroat competitive the industry is and the hustle it requires
Lol those two Karens, I'm surprised they weren't saying "Excuse me!! Excuse ME!!!" while following you.
Put your house up for sale by owner see how fast realtors commish % drops! I will use them to buy a home but never to sell a home. I’ve sold many too. The closing attorney does all the work!
Wine sales steady thanks realtors.
@@JohnDoe-np3zk Good one pal. I drink beer.
@@surfboard396 Bud Light?
@@SomeUserNameBlahBlah 😂no Bud light.
I bought my in port richey. I found it, did my research, paid for inspections ect. Looking back, why did i pay someone 5% after i did all of the work?
I am doing the same thing
let me know if somebody is looking for a single family house i will work
on the price of course if no realtor involved . thank you
Zillow FSBO 1074 HAMLET DR MAITLAND, FL 32751
Happy Monday!
Michael, beautiful scenery on your walk ☀️
I love being near the water 🩵
Lisi, are you two thinking of moving??? 🙂🩵🧡💛🤗
Hi Laura!🤗
How are you doing? Happy Monday!💕🌷
We would love to move here but not loving the idea to pay estate income tax so we are happy to just visit and spend summer time and go back to Florida for winter ☺️😎👊
that's really true. still, when you think that a lot of houses in my county are around 400-500k, you'd think that they would've had a bigger paycheck then when i was doing it.