I don't think that's the problem. It's more a symptom of the fact that real estate has become an investment rather than a commodity. This populist rhetoric is good at getting people mad but isn't good at identifying the problem.
@@cringelord7542 In the Atlanta area there are whole neighborhoods being built by financial outfits where they will only rent the properties and the rents are very high. Basically the middle class and the poor are having their pockets emptied by the rich yet again. The long term problem is that when a relatively small group of rich people have most of the wealth of the country they can bend markets to their own benefit.
"Get yourself a raise." Oh! I'll just go down to the raise store and get myself a raise! Workers do not "earn" wages, with higher productivity. Productivity has been increasing without complementary wage growth for decades! Employers control wages, not employees! Get your act together! I can't share the video like this!
Start applying for other companies. They'd sack you for any reason. Why wouldn't you be able to leave for a better job? I apply for a new job every 2-3 years because a 3% raise per year ain't it.
You can still find affordable housing, you just have to go through the unconventional means. Here in Miami there are actually homes in the 100-200k. Sure most are foreclosures, and fixers in undesirable neighborhoods but they are out there. It's baby steps. My buddy actually purchased his first home 3 years ago. It was in a *rough* neighborhood. Needed the entire roof redone, and it has some mold issues. Paid under 100 for it. He slowly fixed it up (lived in it with a tarp and the moldy room isolated). Eventually he redid most of it, and just sold it for almost 350. He then took that profit and put it as down payment on a home he really wanted. It was tough because of competition, but he bought his house, in the neighborhood he wanted, and because of the higher DP, his mortgage is very sustainable.
@@LynxStarAuto that's not "affordable housing". Affordable housing is income based or set aside for limited income folks. Minimum wage workers and the disabled in most means testing based places. Usually not land they buy but rental property. Though it probably should include purchasable real estate. It's a specific term with a specific meaning in the housing industry and city planning jargon.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.
Given that we are not accustomed to such uncertain markets, the fact that the US stock market has been on its longest bull run ever makes the widespread anxiety and excitement comprehensible. There are opportunities if you know where to go, as you noted that it wasn't difficult for me to earn more than $780k in the previous 10 months. Since I was aware that I would need a reliable and strong plan to get through these tough times, I engaged a portfolio advisor.
@@danieljackson87 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.
@@mikeharry96 It was run by Julie Anne Hoover, who I learned about and got in touch with thanks to a CNBC interview. Since then, it has served as the point of entry and departure for the games we have emphasized. A search on the internet can be done if tracking is necessary.
@@danieljackson87 I just copied and pasted Julie’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
Interest rate is currently at 4.75%(8th rate hike since March last year) Inflation at 7% and mortgage rates is at over 7.5% but yet minimum wage remains the same and my retirement portfolio has suffered tremendously these past years, so my question is how do senior citizens retire and live off such unstable economy. The long term game is obviously not for me at this point.
Inflation is over 10%, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
You're investing in the wrong things if your retirement has suffered tremendously the past few years. Sure, 2022 was a hit, but now, in January 2024, the S&P500 is at an all time high. Your retirement funds should be at an all time high. This is only 10 months after your comment, so not that crazy. Retirement funds are long term.
Our neighbors were asking 245k for their home and some family from Cali bought it for 350k cash. What's going on everywhere is crazy, but I'm in Idaho and our market has absolutely gone nuclear.
It’s crazy seeing not only the increase but how much Cali (I’m in Cali) is like it’s whole own seperate nation. $350K won’t event let me buy an APARTMENT in many places here.
If the US is running out of houses; all these depressing malls need to be turned into affordable housing Image solar panels on the roof , turning some of the parking into food gardens , having social services based right there in the housing
I was going to put down 100k for a house in Florida in March this year but opted out and put it into forex which has actualized over 700k in profits so far and I just acquired my first house in California, happy I made that decision.
I was planning on buying a new BMW this week after saving up I think I will make a u-turn and weigh my decision, I will like to know how I can get into Forex trading like you do
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
Same with car loans. People overpaying by 5-15k will be in a rude awakening with things come crashing down. Especially with the fed raising interest rates.
At least I have a place to live! It’s still cheaper to buy a home than rent…also I bought in 2016 for $375k fixer (the upstairs is not livable) for a 1 bedroom for 4 people which is kind of a deal
I know many would disagree with me but I seem to remember that back in the 40s and 50s and even in the early 60s there were homes called newlywed homes or bungalows, these were 1 or 2 bedroom homes of less than 1200 sq.ft. they had 1 bath and were small but they gave young people the chance to have their own home. Society today has this feeling that bigger is always better but in reality how much do we really need, you can always trade up as your income and family grows. This is why so many are turning to off grid and the tiny home market.
Many people want them - both "newlyweds" (i.e. anyone just starting out) and empty nesters looking to downsize - but they're not what builders want. Especially with high cost of land and materials, builders are scaling up home sizes to create a bigger profit margin because small homes don't. I've also heard that some areas and neighborhoods with bigger homes don't like the smaller ones being added because it brings the average price down, which hurts existing residents when they go to sell. I'm a big supporter of building smaller homes and housing units, but not everyone agrees.
I asked for a price on a one bedroom apartment and the response after fees was almost $1k. I asked her why it was so much more than it was six months ago and a year ago. She had no response. I also asked her how have their costs gone up to warrant price raises. Her response was to tell me how much a two bedroom was... They do not care if we have a home or not. Their costs have not gone up. It seems to me another form of price gouging. They know our situation.
@@RacksonRacksonRibss It was the same all over town, they are taking full advantage of inflation and they know it. They are taking advantage of everyone's situation and they know it.
Not being able to collect rent for month after month AND not being allowed to evict is a massive cost, especially when the government that put a moratorium on evictions didn't put a moratorium on property taxes.
Property taxes are a local and state government issue. It would have been nice if all levels of government would have taken a little bit of the blow to help everyone across the board on property taxes. Property taxes went up in our area for 2022 which didn't help. We weren't hit too bad and were able to adjust for the increase, but for some people the increase made a dire situation worse.
Why should someone care about someone else's living expenses Most should know nobody truly cares People should definitely focus on themselves more and stop waiting around for help. Nothing will change cost of living will forever go up and most still think rent will remain the same as the previous years. This thinking will keep you behind. Also stop having kids definitely won’t be able to survive with them hanging around as a liability.
I value all your information you put out there Grant! I do want to learn the Real Estate Business the way You play it! Just wish I knew this years ago! What does one do to get in that game if Im already close to 50 and lived most of my life working and house poor?
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.
@@harod033 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.
@@harod033 I must add that Ruth’s profile seems to be pretty knowledgeable, so I appreciate the tip. I completely read through her resume, educational history, and qualifications after finding her online, and I must admit, they were extremely remarkable. She responded to my message, and we have scheduled a session.
Easy answer: GREED. 1. Wall Street investors. 2.Towns want the property taxes- higher priced homes generate more tax revenue so cities & towns won't approve permits for developments of smaller sized lower priced homes. 3. Builders won't build small-home neighborhoods like they did in the past when homes were 800sf, cuz the town wont approve it &or the cost of engineering, site prep &building materials exceeds builder Profit on small-homes. -We need Non-Profit housing districts to develop neighborhoods of (600-900sf) homes w small yards. They must be well designed w no wasted space & for sale to an income range such as blue collar ppl.
Well said. Retirees on fixed incomes are being priced out. In CA, landlords can raise rents by 10% per year. Most COLAs are 2-3%. I was taught that rent shouldn't be more than 1/4 to 1/3 of income. Many are now paying 50-60% of income for rent. And Tiny Houses, that could solve some of this for first time home buyers and retirees aren't allowed in most places due to zoning. Corporate greed is to blame for higher mortgages and rents are tied to that. Mom&Pop landlords are following suit. The American Dream no longer exists. And more and more elders will be living in their cars. It's shameful.
A few solutions: don't allow corporations/investment firms to own homes, don't allow non-US citizens to own any US real estate. Do not allow anyone to own more than 2 homes max.
Woah the second point of nom US citizens is just INCREDIBLY stupid. The other two points, are fine… But frankly if we were to enact that second point, a lot of first generation immigrant families will just flat out not be buy housing, which is ridiculous.
@@suryamani1235 First generation immigrants can become citizens. Just like my parents did. You know, the legal and right way. They own their own home now and are happily retired.
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
I truly enjoy having a portfolio coach to help me make market judgments on a daily basis. They possess a special combination of abilities that enable them to take both long and short positions, benefiting from the possibility of significant gains while also safeguarding against downward turns. I have had a portfolio coach for more than two years and throughout that time I've actually earned over $645k. It was a wonderful experience!
@@james.atkins88 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
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. Her expertise is impressive.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Here's the cliff note version of this video: greed, market intervention by government in the form of building restrictions and interest rate manipulation with sides of ego and narcissism the latter amplified by social media so that people can make themselves feel good about owning something they can't afford. You're now free to move about the cabin and enjoy the extra time I provided you this morning. 😊
Captain speaking: "Meanwhile apartment prices have skyrocketed too so don't imagine you'll just downsize/move into an apartment our flight attendants will now take your drink orders thanks for flying..."
Because the corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
Because the corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
It was definitely hard to buy a house during the pandemic, my parents tried buying one. Each house we looked into people were always placing high bids. Everyone is desperate to buy a house, it’s a competition, and if you don’t have much money it’s difficult to obtain one.
@Noplaylists what's funny about that statement is that it's easier to finance a car, furniture, a car stereo system, etc...than a home or property. You don't need a 20 percent down payment for a home but you can buy that car stereo for 20 bucks a month at high interest. It's funny how the world works. So you see poor people walking around with iPhones, expensive cars and trucks with nice sound systems, Jordans, jewelry and such because it's easier to get. A lot of young people today don't even think about owning a home either because generational wealth wasn't handed down or they don't save money for whatever reason. I know people who have taken the vacation of their life but are one paycheck from being homeless. They were able to make small payments for that vacation but no one sets up payment plans on homes where small payments can be made. So now it's a competitive market and even someone like me who makes over 70,000 in a non health care position at a hospital can't buy a house. It took me 30 years to even make that much. Even folks that I know that are nurses making 100,000+ a year are living 2 hours away because they can't buy near their work. Houses in my old neighborhood where I grew up which are like 1200 sq. ft. homes are going for a million because of Google and Facebook. It's a dog eat dog world out there.
During the pandemic was a great time to *not* buy a home. - I understand that's not always practical. But, borrowing was cheap, people were flush with cash and many builders had significantly reduced output; making it the worst time to buy. Waiting for a better time to buy will pay dividends. - Obviously timing the market isn't really possible, but the pandemic was an outlier.
Look in less desirable locations, shitholes like Danville and South Boston VA, for example. One can buy a single-family house on a third of an acre for $60K there. Open your mind.
Real estate in the US is rising rapidly, pricing many families out of home ownership. The problem is that many homes and land parcels are being purchased by companies and people overseas as an investment. What we need is legislation that requires US citizenship to purchase homes and land in the US. It's not unreasonable to think that owners of homes and land in America be American citizens. American citizens should not have to compete with investors living outside of America to live the American dream of home ownership.
Many legislators across the country and their bankrollers clearly helped to monopolize/corporatize up the apartment industry during the Pandemic by running all the middle class mom n' pop rentals out of the game. Under the guise of Moratoriums they ordered them them to house people for free as long as a year or more while dragging their feet on rental assistance until they broke.
Another problem with zoning is they don't allow people to build smaller houses, because they want to keep property taxes high for the city and county governments. That has to change. WHY does every house have to be a huge Mc mansion, when many people only need, or would prefer, to live in a smaller cozier house. Many who can't afford that large house would have no problem paying for a smaller house...and the property taxes, heating and air conditioning bills etc would also be much cheaper for a smaller house too, all while saving wasteful energy use at the same time. It all comes down to greed and control, because the current system purposely creates laws that make things continually more expensive...so the banks, local governments and energy producers etc all make more money at our expense, poor people are locked out of the loop, and we have no other options.
Usually because of all the government regulations just to put in the infrastructure. This doesn't leave any profit margin left for the builder if you make something small.
@@M123Xoxo I bet that's based in absolutely nothing specific. Have you looked at any numbers to say apartment complexes miraculously yield less money than houses? Or is it just something you'd like to believe because you prefer houses/hate corporations?
It really depends on where in the US you live. Most of the job growth since 2008 has been concentrated on a handful of urban areas. Live in Austin, Seattle, Portland, or Phoenix? You've got tons of jobs with hordes of young workers moving in and expensive housing. Live in a rural area that's never recovered jobwise from the great recession (as in most of them)? Yep, there are houses for cheap but good luck getting a job that will let you afford it. Farming's been automating and dropping its labor force for decades now. Small town manufacturing has dried up as everything either conglomerates in large cities or ships overseas. Most of the high tech jobs concentrate in a few metro areas and it's difficult to get a good start as a young person. Japan's been slowly dealing with similar issues since its birthrates started dropping thirty years ago. We're just catching up.
All the corporations buying houses take those off the market permanently. They don’t ever come back. If a house that has been bought by these corporations does sell it is sold to another company. The homes never become available as family homes again.
Ban corporations buying up blocks of family homes. Limit investor purchases to a small number of homes spread out over different communities. Investigate the financial backgrounds of multiple homebuyers to see if they are using different names and corporate identities to get around rules limiting home purchases! 💔🇺🇸
The corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
@@stanleyhape8427 True and thanks to the corporations turning the homes into section 8, the rent will always be paid and they will have indebted sl a ves forever at taxpayers expense and no affordable homes for the taxpayers paying the tenants rent Genius!
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further
The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Deborah Jean Dykstra", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@MarcoPolo-oy3mh Your USD are losing at least seven percent per year in purchasing power. Even properly invested, you are paying for inflation by proxy to corporations in which you invest. People like to crap on Bitcoin, but Biden can't print more BTC to finance his largesse with Ukraine and Israel. With USD, he can, and does . . .
Here on Guam 3 bedroom houses built in the early 90s go for $500k+ which is still considered a fixer upper. For renters you are required to make 3x the monthly rent, 1st month's rent, 1 month's rent for security deposit for a 1 bedroom apartment going for $1,000 in a 70s building. 🤦🏽♀️ All the while the median annual income is $27k...if you're lucky. America, land of the free home of the select few... 🤷🏽♀️
Do you think the US should cease all foreign policy as long as there's a homeless person? You know homeless people get food stamps, EITC, stimulus checks, and Medicaid right?
My husband and I moved into a small home in a nice walkable neighborhood and it has been life-changing. We can walk, ride a bike, or a short ride in the car to parks, community center , 2 grocery stores, restaurants, gas and it goes on and on. We Love it.
I also bought a small home that is walking distance to a Hispanic market (which is awesome when I forget cilantro from HEB lol) and its very close driving to 3 other stores and a church and a park where I ryn with my pup. I got lucky!
It's been quite a LONG time since a single family home or "starter" home has been in the construction vocabulary. All you see being built today are 4-5 bedroom Luxury homes or Townhouses. Part of the problem is that the builders are looking for a larger chunk of profit off of the build, same as manufacturing and industry increased the profit margin they have had over the last 40 years, while the workers get minimal increases in pay if any.
yep. In most areas, the minimum square footage is between 900 and 1, 000 sq ft. But, supposedly, 30+% of people live alone and need only about 450 sq ft - case by case. I'd love to see more tiny house and also small house (900 to 1,000 sq ft) communities. The square footage of a house doesn't need to mean worse style or uglier landscapes or cheaper materials.
Same for apartments, too. My state's population has been exploding since Covid and they are building everything left and right....all "luxury", of course. I can't believe there are *this* many people moving in with that kind of money.
My mother has been in mortgage profession for 30 years and it just seems like a giant money launder to me. Where else is that much money being transacted back and forth? Not many avenues. Obviously it's going to be tapped into by corruption.
When Tesla and Panasonic moved to Sparks Nevada....Reno exploded. The median home price in Reno is now $630,000. This is great for folks who bought a house 3 years ago....but if you are a 22 year old college grad or blue collar vocational worker....you are screwed here.
The root cause is the federal reserve keeping rates too low for too long. When i bought my house rates were higher but houses were more affordable. I got my house for under 90k. All lower rates do is increase demand and the price goes up.
lower rates don't mean increased demand, they mean speculation and lower lending standards. High rates mean people work and save to buy a home, low rates mean people don't save, they flip properties. That's what sends property prices to the roof.
Yup. The Federal Reserve is responsible for this mess. Same for the overvalued stock market. They basically exist as an institution to enrich corporations and the wealthy at the expense of Gen Y and Z.
I love how she says owning homes is more affordable than ever? Even though the beginning of the video was how there weren't enough homes for the demand. And it's causing the prices of homes to skyrocket and the income isn't rising. And this generation of Americans that are supposed to be buying homes and starting families, can't even afford to move out due to student debt. So, I don't even get what she said at the end.
she said nothing because the news isn't meant to inform you it's meant to sway your opinion. They tell you it's easy to buy a home, it's really not, but everyone regurgitates their info and believes them without any actual real knowledge. idk why anyone listens to the news as fact you should literally treat it like those financial advice channels
Corporations, private equity companies and foreign buyers who don’t live in the US are buying suburban homes. This has led to an extreme housing shortage for first time buyers, as well as impacting the rental markets. State government can do something about this, but won’t. The real estate lobby as well as private equity lobby need to find other markets to make money. The public need homes.
It's not corporations causing this. They're a symptom of the problem here; there aren't enough homes. If more homes are built (as in enough to the point the price of a home drops significantly) then corporations will leave the housing market.
The reason for the prices of homes being so high is because corporations and other companies are allowed to buy " Family homes " for investment ( rentals, leases, etcetera ) purposes. Also, there are more than enough " Homes " to go around. Google " How many US homes are not occupied? ", Google answer: 16 million. And Google, " How many homeless people are there in the US ", Google answer: over half a million. Which shows an over abundance of homes at over 15 million. Something is definitely wrong with this picture. We are being lied to ... Makes me physically sick when I do my research on topics like this :(
"The reason for the prices of homes being so high is because corporations and other companies are allowed to buy" -The sad part is that you actually believe that
@@virgilhilts3924 Corporations have created scarcity in the housing market by acquiring homes that would normally be available for individuals -- basically limits their selection and options. Any resource that is, scarce/hard to get, inherently causes a price increase because of limited availability.
Because we let China and other foreign nations buy homes in the US even though they don't reside here. Canada has temporarily stopped foreign purchases of Canadian homes. There should be a 100% fee on all purchases of homes in the US by people who are not citizens or permanent residents in the US.
I know a whole neighborhood bought by Chinese investors. The majority of homes are empty. The rest are air bnb or used as vacation homes. This is the new normal. American citizens will pay foreign mortgage payments. The American way.
That’s because the government printed like half of all US currency in the past year and a half, and China didn’t. The US and other western nations devalued their money severely, while the Chinese and some other foreign nations did not, meaning the get a great exchange rate, and they invest in a stable US housing market. The US also gets to pay off their foreign debts cheaper with intentional high inflation, and they don’t have to look bad and raise the tax rates on the people. Pretty slick tactic to essentially put a hidden tax on the people. Thank uncle Joe. If you voted for him, you voted for this.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. 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. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
@@maggysterling33254 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
@@jsebby2284 This is true but this logic drives me crazy. Since it’s more about the value of the dollar and a million other LOCAL factors. Our numbers are the biggest but what that number can purchase has VASTLY declined. You can look up “adjust for inflation salary calculator” aka they need to be even bigger. 60K in 1980 would/SHOULD be… wait for it…. 224K! That’s right. Restaurant managers in a perfect world would be making THAT MUCH! Don’t even get me started on how much high salary professionals would be making! Our purchasing power has declined sooooo much! Even if the salary looks amazing from outside the US.
@@duncanbug yes there's a lot of factors you are correct. But the US also doesn't have a high cost of living compared to other developed countries. No - restaurant manager since a perfect world wouldn't be making 224K lol. I'm not sure why you just made up these numbers Purchasing power everywhere has declined. That's just what happened over time with inflation. I'm not sure why you ate cting like this is a US only thing
It's tough. I'm 52 didn't take school seriously cause jobs when I was growing up were paying well and people were retiring with no worries from my opinion. I grew up, didn't go to college (my own fault) worked two jobs in my twenties to help myself and my family, got in at a hospital and ended up in a non medical field, been there for 29 years. The pay is still not enough for me to own a home. I had a home in my old hometown and sold it because my mom died, I had my grandmother and was on family leave. I was forced to sell the home because my Grandmother was on the deed, she went to a nursing home with most of the proceeds, I was afraid to buy again on my own, I mostly gave most of my money away thinking I was helping people...now I'm 52, can't retire, can't afford to buy, been in same apartment for 13 years which is below market and I still pay over two thousand dollars for rent and utilities plus everything else. Though most is my fault, those who are white collar or white collar tech and health care workers such as doctors and CEOs etc are affording homes....working class like me don't see a foreseeable future in home ownership. Where I see myself is in an assistant living facility, working at Walmart whilein my 70s. I don't see my future retired, enjoying my life. Wages, housing market, retirement....all of my fears. It's sad.
Never too late to learn a new skill! Lots of great blue collar jobs that pay well (if white collar isn't your thing). Also, lower cost of entry for blue collar jobs.
You could have purchased after the Great Recesssion. My payment is only $1,000 & it includes taxes & insurance. It is a 2100 square foot 4 bedroom home in a nice middle class neighborhood. I am getting ready to rent out a room for extra income. So glad I bought when I did, even though it was a little scary.🏡
I don't understand. How long will people work hard and gain nothing from it? Why non working bankers be rich by just loaning money? They live in fancy houses that other people worked to build, they eat food that farmers produced truckers delivered and maybe stonework like you stocked. It's unfair workers like you can't enjoy the fruit of this society. It is extremely unfair situation right now.
They report in language like “people aren’t willing to sell their homes.” As if those people don’t have a need for their homes like having kids… the problem is people making the choice to buy homes at once along with greed. Nothing else
Well to be honest there’s some new elements coming into play. -Boomers aren’t downsizing since millennial and Gen Z are moving/moved back in with them after not being able to save up enough with rent increases for a down payment -Boomers/Gen X having at least one second property for income to compensate for retirement SSI that wasn’t enough to compete with inflation and a overburdened poor healthcare system. Basically the US procrastinated on its homework assignment of… making society adjust for new people being born. This same issue actually occurred in Japan but for different reasons.
Same situation, I moved 2 years ago to the Philippines starting from the pandemic because I'm having a hard time in japan. The pay isn't even enough and the housing also keeps rising. I moved to affordable and comfortable place here in the meantime.
Many have asked for too much and are stupid enough to think the rich will be forced to pay for it, but the rich have $200-an-hour lawyers and accountants who get them out of paying. People vote in politicians offering free stuff and then complain when taxes go up.
There were bidding wars when I acquired my property 13yrs ago, especially for single story homes. They are like gold, and you will pay! Cash buyers were locking people out back then too!
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads in deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from $150,000 in savings that were initially stale.
She is *PRISCILLA DIANE AIVAZIAN* , my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@@veramonique1724 sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.
Even if you want to badly bough a house, remember if it doesn’t make financial sense it is best to hold off until you can find something that makes sense. You don’t want to be upside down or stretching yourself to thin.
Unfortunately, rents have also gone sky high, so for many people it's impossible to put away enough money to even secure a mortgage. Even then, lots of 'starter homes' are over $250k in most places
LOL the advice they give is so helpful! "Just be sure to have a lot of money in savings and you will be fine." Ok! Great! No problem LOLOLOL when so many of us have jobs that just barely covers our bills... 🙄
They failed to mention that billionaires and corporations are purchasing homes and holding on to them. They are purchasing farm land as well. For what that’s for us to find out.
I sold my home in Texas in the summer of 2022 it was under contract within 8 hours of putting it on the market. We had a cash offer and took it. We then moved to the north east to an area where homes were much more affordable. We purchased the second house in the fall of 2022 as the prices started to go down. We were able to pay cash for a bigger home on an acre of land for $80,000 less then the house we sold in Texas. This is now 2023 and I see that Texas and Florida home prices are really starting to fall. I was just fortunate to be able to do this.
I appreciate your approach to teaching.. To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green.
@shane heried I know and am not doubting it I understand people are good at learning by imitation, i found her website proficient and left her a message
Overprinting...is why there expensive..value of the momey going down while simultaneously raising mortgage rates. Every single real estate listing in the US should say 15,000% chance more likely to get nuked then 4 years ago..Factually speaking in real estate terms...or is safety of the neighborhood not relevant to pricing anymore. Guess we only count metrics that are convenient to Real estate owners
See our parents & theirs didnt plan/fight well. They installed spy tech cages after that and then let the schools abuse their children etc. They were too busy working 55 to 65 hours. Instead of taking a step back; rebelling. Etc.. Now corporations run us like slaves or else.
If somebody wants to (and can afford to) live in a large single family home and be surrounded by other single family homes, well done to them and that's perfectly fine. I don't think anybody wants to ban single family zoning. That being said, the country is in serious need of an alternative concept, which is: medium density (not high rise), mixed use, transit oriented (walk/cycle/rail) communities.
Bans on single family homes zones is a ban on ONLY single family home zones, not a ban on single family homes themselves. So it gives the right of developers to build anything from single family homes, to apartments and everything in between.
Banning SFZ is not the same as banning single family housing. Banning SFZ would mean that you're not REQUIRED to build SFH, but you still can. Many developers would happily build mixed housing with SFH and duplexes and apartments, and throw in some small businesses, and you've got yourself a nice walkable neighborhood. When you've lived in a mixed neighborhood, you don't want to go back.
Bethesda, MD is not a positive example. Nearly everything built that can be bought is wildly unaffordable. Even the high density housing is unaffordable. Above 1M for 2-3 bedroom condos and you get the privilege of having your annoyingly pretentious neighbors tell you your children are too loud and your dog can't poop on the grass. I get what a lot of folks in this piece are saying, suburban sprawl is a soulless blight. But they're also not addressing the fact that high density housing is just as much of a nightmare.
2:40 I read something the other day about Goldman Sachs buying over 64 single family homes in or around Central Florida and 90+ in South Florida. They're buying up the inventory and pushing prices higher.
It was an investor that Goldman Sachs is backing and it happened in central Florida Brevard county. They bought the homes at a premium and are going to rent them out for astronomical prices for a solidy middle class. They will all be rented out though and quickly, and will put upward pressure on the market.
I rent in expensive areas for cheap and invest overseas. Who needs a back yard or any of that crap? Whenever I feel like it, I will call it a day and retire in Greece with free healthcare, beautiful weather, free education for my son and almost 0 property taxes. I love watching these videos to see again how stupid we are in this country.
This thing of most houses being in cute suburbs while cities are rubdown is what keeps me from moving to the US. In parts of Europe we are moving away from using cars and I am not willing to give up that pedestrian life :/
Why does it say this video was posted yesterday? This has been up for weeks. I even told my brother the story of these NJ people selling their house for so much over the asking price over last weekend, days before this was posted "yesterday.".
As someone who owns a luxury design build and land development business, the influx of private equity companies and the big 3 (BlackRock, State Street and Vanguard) into middle class communities and new developments is the absolute biggest issue. Increasing the supply of middle class housing is not going to help when they are either scooped up with cash on 0% interest from those entities or in more inceasingly common practices being developed by those companies directly. Luckily, for me, the custom build and luxury market has been substantially less impacted by this since you are building for the homeowner for the most part. From my experience, that is the only way to explain the discrepancy between the 2 markets. Covid is just an excuse for the rise in prices, but the reason for them not coming down is that people do not want to lose money on their biggest investment. Especially when housing is an essential for the everyday homeowner and a cash cow for investment corporations. As someone in this line of business, i am astounded that some sort of antitrust is not being brought forward on these companies.
this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
That's simply not true. Banks discriminate against black people buying homes all the time. Just about every major bank has been sued for this. They also did a video on this very channel where a black women who could afford to the home she was applying for but kept getting denied and they had a white person apply for her and they where immediately accepted.
There's no housing shortage. If you traveled you'd know that. There's a hoarding problem. There are entire towns worth of empty homes and buildings all over the country. People need to stop buying all at once and force a crash.
I do not believe we have a housing shortage. There are many homes sitting empty and many people including myself who will never have a chance due to financing. Getting pushed out of my hometown with excessive rent prices. Thus is such a HUGE problem
There really aren't that many homes sitting empty. No landlord wants an empty home that makes nothing when they could get the market rate for the place instead.
There are hundreds of thousands of homes sitting empty around the country. They sit empty for so long that they start to fall apart. The free market lets this happen. Wasted resources down the drain. There is no shortage of homes, just a shortage of jobs where homes and existing infrastructure are. Over decades we have centralized jobs and industry into the top 10 largest cities, with many small and medium sized cities left to rot. This is preventable and should have been managed. What has happened to the Rust Belt is unacceptable.
How can the rental occupancy rate spike suddenly to the highest in a generation? It's not like there was a sudden spike in the number of adults in America needing housing. And you can only rent an apartment to some*body*... ie: a person. Meaning without a sudden spike in the number of people needing housing, there can't be a spike housing demand. (To reiterate, the number of people on the market for housing can't have spiked too much between pre/post-COVID, as there was no spike in children reaching adulthood.)
Because the corporations thought to buy up all medium priced homes and let the taxpayers pay via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free
@@abigailh7715 While that can certainly be true, those corporations want to turn a profit. So sitting on housing without renting them out or selling them is a loss in profits. Meaning that the housing they bought up should be on the market as rentals.
@@jetfowl The homes are on the market! Via rental income paid for by section 8 - the taxpayers. Rows of homes are now off the selling market and just rented through the govt scheme insuring decades of indebted servants
@@jetfowl It seems to me like a deeper darker plot than most are seeing. I'm not seeing it as strictly financial gain but power and control over the 'little people' - the lower classes than themselves, the 1% As Klaus Schwab stated "you'll own nothing and be happy" The govt will provide all our needs and we will be their sl a vez
Foreign buyers are a HUGE problem in some areas. There are tons of foreign buyers (largely Chinese) buying expensive homes in the US then leaving them empty because they live overseas.
Building up just means you're living under a landlord or a condo association. Is that what people really want in the long term? How can you expect people to raise families in this hyper dense urbania?
Heh. People whining about home prices increasing only to buy a home, doing $10k worth of renovations, and then selling for $50k more or renting them. In the meantime, the house is 80 years old and deserves to be torn down. Housing, as an investment, is good for 3-5 generations. The whole system is a game of pass the grenade until the last sucker gets a 120 year old house that blows up in his face. It's a game where you screw over other people and then get screwed yourself. Others come in with progressive and economical ideas like tiny-homes, prefabs, communal-oriented design. But home-buyers are risk averse, the lending infrastructure, zoning rules, and labor force skill gap hasn't caught up so those ideas get rebuffed.
After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader 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?
Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
@@patrickperez7387 Because of the big declines, I need assistance on how to rebuild my portfolio and develop better methods. What city is this advisor located in?
@@amiltondavis Funny that you brought that up-I can definitely sympathize. I'm not sure whether I can say this, but look up "sharon lee casey"; she received a lot of press in 2020. She also manages my portfolio
@@patrickperez7387 She has an impressive profession and impressive qualifications, so I can see why she is so busy. I thus quickly copied sharon's full name and entered it into my browser.
Attempting to build in California. There are SO Many rules/ permit fees, before the shovel even hits the dirt, you're out almost 50K. It's the State Laws that make it so expensive!
I was raised in NJ and still live, my parents bought our house for like $250,000 in 2004 and is right now selling for $500,000 to $600,000. Literally every single house around us is around that price range too and I’ve been looking for houses around where my job is and the prices aren’t any better lmao. I make $21 a hour and moving out feels at this point like it’s a dream. When I was in high school, I thought you’d go to college, graduate, get a good paying job immediately out the door and that’s when your life will begin. It took me so long to find a decent job after college and if I wanted to move out comfortably, it would be a realistic option once I make about $30 a hour which will take me another couple of years of waiting to move up at my job. My parents treat me like im a still a child and always critique me in everything and I just want my independence. I can see why so many of us are depressed! Young adults have to have their independence in order to be productive members of society and that core stepping stone isn’t even an option for an overwhelming amount of us. Imagine how people would be nowadays if good wages and career were widely available with affordable housing.
In my 20s, I was you. I still live with my parents. I learned to place my hope and trust in Lord Yeshua. For God so loved the world, that he gave his only begotten son that whosoever believes in him shall not perish but have everlasting life.”
I'm 21 and want to move out but I honestly can't. I'd love to buy a house, but everything is so expensive and I really don't want to rent since I feel it's money wasted. I'm just gonna keep saving
Don't move out ! Stay with you family they kick you out ! Life is very expensive it's not worth it. Save your money while you staying with your parents
I called a Realtor who laughed at me because I only earn $60k a year. She said the only thing I can afford in the USA is a tiny home, six feet underground. The Neighbors are quiet and I'd be able to rest in peace.
@@jessi-rey I was half-joking. Real Estate Agents have laughed at me for looking for a place to live on my hard-earned salary. But they never suggested I move into a tiny home six feet underground. At least, not yet. I wouldn't put it past them.. It is sad that, unless you are a millionaire, you can't find a place to live in New England.
Update: This weekend I was approved for an up to 300k house. Found one that is only $249,000 in my area. Real Estate Agent says it is a "CASH ONLY" sale. Would have liked to have known why. Suspecting that it is an uninsurable lot.
No one will be able to live even in the smallest apart or house, no matter if it's in a township or big city. Homelessness will rise faster than a bullet train on crack.
Depends, in California there actually just IS a shortage. Nobody built much after the 2008 crash. Nobody though millennials would even be able to move out. So they didn’t build for them. Why build for a generation who has such a bad debt to income ratio due to student loans? Why lend? I say this as a millennial, it’s so dumb. I hate that younger millennials and Gen Z have basically been wholesale abandoned by American systems.
In some places, homes are turned into air b n b and vrbo rentals. This reduces the amount of homes available for living purposes. I just saw a documentary on this and the numbers are shocking. Owners have found (investors too) that they can charge tourists a lot more than an actual renter. This gravy train has a trickle down effect. The long term result is going to be a disaster for the middle class.
So I just came back from Spain. Picture this: 2 bedroom, 2 bathroom luxury apartment, downtown Barcelona, and near the ocean for only $600. The biggest contribution to the increase is a mix of cul de sac system and the need to vastly increase our youth population (hence the increase in migration)
This Housing Crisis is the direct outcome of: • Trillions of dollars of printing money irresponsibly by the Federal Reserve (Quantitative Easing). • And keeping the interest rates at a record low for 2 decades.
Same thing in Poland. Printing money on behalf of the fight against covid, alleged social assistance etc. Prices of real estates, materials to build skyrocketing. Deliberate action
"Currently in the United States we have a huge shortage of housing." No, there's a shortage of *affordable* homes. Wages and pay are failing to keep up with inflation and the economy from what I've gathered. People can hardly afford anything. It's also crazy how zoning laws and policies are keeping the country from building certain types of properties in certain areas. I understand if its for conservation but the U.S. is literally massive and I know the government doesn't care that much about the environment, clearly. Not to mention how companies/corporations are able to come in and lay claim to entire rental and mortgage residences then essentially buy out competition and home owners. Maybe I'm wrong. It's just an observation.
@@jsebby2284 The current economic crisis. I've seen multiple sources state that worker's pay and wages are failing to keep up with the market inflation, poor federal management, devaluing of the dollar, and ultimately the overall economy. The U.S. isn't even projected to be the dominant economic superpower come 2030.
@@lrn5152 so you're talking about inflation. Which is what I addressed. If you specifically look at 1 year then yeah it hasn't kept up - obviously given whats been going on. But that's not how you should look at wages vs inflation. You need to look at it over time
With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
@@ufo_vid9694 Maybe if D.T. would've tried to manage the pandemic responsibly even a little bit, when he was first informed about it in December 2019 and again when it reached U.S. shores of the in January 2020, rather than politicizing it and calling it a Democrat hoax, then maybe we wouldn't have suffered and wouldn't still be suffering with as many issues as we've been for the last two years!?
This is an easy explanation. 1. Cheap debt. 2. Inflation. 3. Low supply due to lack of construction AND low rate refinances. 4. Demand from every angle causing euphoria and FOMO......That's why. People who want affordable housing? There's no such thing. Builders only make what's making them money based on costs of land, labor, and materials. Demand has outstripped supply since at least 2013 (has anyone ever bothered to ask how so much supply from 08 swung the other way so fast). Investors, foreign cash, high COL transplants pounding lower markets, and low interests rates, caused this mess. Only way anything gets back to normal is for it to crash. Companies and people took huge risk buying over inflated assets when rates were low. Now that they're coming up? The market will shift. There are booms and busts in every asset. Housing isn't a unicorn that is exexempt. No such thing as a risk free investment. And that's what people did since before COVID, and it got much worse after.
@@Jay-ql3gu I said it will shift, but there's the wildcard of if the government will step in. This was supposed to crash in 2020, but then the moratoriums and forbearances. I've lost faith in the market because this sent the message to investors that they would be saved. The govt eliminated the risk for them, and now here we are. This is what happens when everyone expects handouts, and doesn't take accountability for taking financial risk and being irrational and irresponsible. If this gets bad, & the government steps in again? Not only will I lose all faith in capitalism and submit this is all propped and fake, it will guarantee that future generations will probably not own their homes. This is how bad the effects low rates and bail outs has been on the market. But you'll see some sap crying about being evicted or foreclosing, because they were too foolish to be responsible with the stimulus checks and unemployment. Or the big investors who'll appear before congress telling us they were too big to fail. I mean just today, I read on how big the PPP loans were scammed, & we paid for that. This isn't on the banks this time. It's on everyone who milked this free money. And the Fed knew this was what could've happened.
Canadians feel the need to insert themselves in every conversation about the US. Canada is a small country with no notable industry compared to US and constantly trying to get attention by associating itself to the US somehow. So stop with the comparison.
@@WackyNZ I'm sure he means population wise (which is true). Land size, yes Canada is bigger. Population, Economy etc. Canada is without a doubt smaller. Hell, one US state is more populous than all of Canada (California, with 38/39 million residents).
Simple answer our economy is a joke where people just speculate with there money. No one actually producing anything. Everyone just wants to make money with money. Need to build more houses and stop the residential housing investing by big business...
Why wouldn't you want to make money with money? Its smart. Would you rather work 10 hours in the hot sun swinging a hammer or sit in an air conditioned office collecting rent checks?
@@jameswilliams2182 Actually, investing in a stocks is investing in the company who uses those funds to raise capital for growth and that creates jobs. So would you rather swing a hammer 10 hours a day or sit in an office monitoring your portfolio?
I mean it boils down to the desire for people to own all homes so they can be rented out for profit. So everything is being done so that Americans can no longer buy homes and must rent. It’s a sick practice and Un-American in every way. People should be able to own a home, like in the previous decades.
@@ocampbell1954 It’s not American in the sense that the best parts out our country and those ideals are not represented by this. In terms of the worst of this country then yes this is entirely that. It’s not free market capitalism at all. It’s an oligarchy of which our founding fathers fought hard to get away from in the first place.
@@Nullzeros What are these ideals you speak of because there are a lot of people who in this country who have never experienced these ideals you speak of. They are the ones who are being hit the hardest by this economic issue too. Everyone was not given a piece of the American pie if you understand what i'm saying.
You failed to mention the corporations buying all of the single family homes up.
I don't think that's the problem. It's more a symptom of the fact that real estate has become an investment rather than a commodity. This populist rhetoric is good at getting people mad but isn't good at identifying the problem.
They need to do something to stop this
@@cringelord7542 how is that not a problem?! These corporations can buy with cash and rates that people can't so they get priced out
@@cringelord7542 In the Atlanta area there are whole neighborhoods being built by financial outfits where they will only rent the properties and the rents are very high. Basically the middle class and the poor are having their pockets emptied by the rich yet again. The long term problem is that when a relatively small group of rich people have most of the wealth of the country they can bend markets to their own benefit.
Cash is king & the majority of Americans don’t have that kind of cash on hand.
"Get yourself a raise."
Oh! I'll just go down to the raise store and get myself a raise! Workers do not "earn" wages, with higher productivity. Productivity has been increasing without complementary wage growth for decades! Employers control wages, not employees! Get your act together! I can't share the video like this!
Asks for "raise" get's "raised" up the list for first round of layoffs, in the next months.
Why don't I strap on my raise helmet and squeeze down into a raise cannon and fire off into Raiseland where raises grow on raisees?
I think he means change jobs.
@@KimPham525 same diff
Start applying for other companies. They'd sack you for any reason. Why wouldn't you be able to leave for a better job?
I apply for a new job every 2-3 years because a 3% raise per year ain't it.
Why is any livable house, anywhere in the world, almost unaffordable to honest, hard working, decent earning people?
False scarcity and desire for profit are what drives this.
In the US it’s because of zoning laws and a “not in my backyard” attitude towards high density housing.
how about work smart instead of work "hard"?
You can still find affordable housing, you just have to go through the unconventional means. Here in Miami there are actually homes in the 100-200k. Sure most are foreclosures, and fixers in undesirable neighborhoods but they are out there. It's baby steps. My buddy actually purchased his first home 3 years ago. It was in a *rough* neighborhood. Needed the entire roof redone, and it has some mold issues. Paid under 100 for it. He slowly fixed it up (lived in it with a tarp and the moldy room isolated). Eventually he redid most of it, and just sold it for almost 350. He then took that profit and put it as down payment on a home he really wanted. It was tough because of competition, but he bought his house, in the neighborhood he wanted, and because of the higher DP, his mortgage is very sustainable.
@@LynxStarAuto that's not "affordable housing". Affordable housing is income based or set aside for limited income folks. Minimum wage workers and the disabled in most means testing based places. Usually not land they buy but rental property. Though it probably should include purchasable real estate. It's a specific term with a specific meaning in the housing industry and city planning jargon.
There's one word for the state of housing in America, GREED!
How is it greed when the buyers set the prices lol
@@jsebby2284 sellers also play a role - as do investors (sometimes not even living in that area)
100%
Greed and fear is what drives the world go around. It's been that way since before money was invented.
@@genkiferal7178 is that bad?
Did they really say “Get yourself a raise?” Like it’s just Snap crackle pop? Wow. 😵
"Let them eat cake"
You may need to change careers to get one. Do you have the drive in you to do that?
Yea go to college and get a better job :)
@@OrganizationXIII again, with what money?
This whole documentary is out of touch...
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Your advisor must be really good. How I can get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
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.
In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.
Given that we are not accustomed to such uncertain markets, the fact that the US stock market has been on its longest bull run ever makes the widespread anxiety and excitement comprehensible. There are opportunities if you know where to go, as you noted that it wasn't difficult for me to earn more than $780k in the previous 10 months. Since I was aware that I would need a reliable and strong plan to get through these tough times, I engaged a portfolio advisor.
@@danieljackson87 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.
@@mikeharry96 It was run by Julie Anne Hoover, who I learned about and got in touch with thanks to a CNBC interview. Since then, it has served as the point of entry and departure for the games we have emphasized. A search on the internet can be done if tracking is necessary.
@@danieljackson87 I just copied and pasted Julie’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
Lies again? Expensive Face Cheap Rent
Interest rate is currently at 4.75%(8th rate hike since March last year) Inflation at 7% and mortgage rates is at over 7.5% but yet minimum wage remains the same and my retirement portfolio has suffered tremendously these past years, so my question is how do senior citizens retire and live off such unstable economy. The long term game is obviously not for me at this point.
Inflation is over 10%, but as we know it's definitely way more than the Government would like to admit. My plan is to earn more passive income and ride this out, can your Investment-adviser assist?
My investment adviser advised not to use an investment advisor for investment advice.
You're investing in the wrong things if your retirement has suffered tremendously the past few years. Sure, 2022 was a hit, but now, in January 2024, the S&P500 is at an all time high. Your retirement funds should be at an all time high. This is only 10 months after your comment, so not that crazy. Retirement funds are long term.
Our neighbors were asking 245k for their home and some family from Cali bought it for 350k cash. What's going on everywhere is crazy, but I'm in Idaho and our market has absolutely gone nuclear.
I feel you there! Amen 💯
My neighbor sold her home for $350k. Was bought for 120k in 2005.
It’s crazy seeing not only the increase but how much Cali (I’m in Cali) is like it’s whole own seperate nation. $350K won’t event let me buy an APARTMENT in many places here.
@@duncanbug that same house is now worth over 700k. We sure appreciate the calis coming here and buying up homes over asking.
I’m sick of ppl from Cali , they have ruined Texas
If the US is running out of houses; all these depressing malls need to be turned into affordable housing
Image solar panels on the roof , turning some of the parking into food gardens , having social services based right there in the housing
Hate to break this to ya but that is the new master plan concepts for apartment communities
@@amanbendel6270 it will be a good use of mall space
@@wandadrees6384 not if you happen to be one of the people living near the mall
That would imply they care a single bit about us and see us as human beings. They don't.
@@monsieurlaguillotine3481 sad, heartbreaking truth.
I was going to put down 100k for a house in Florida in March this year but opted out and put it into forex which has actualized over 700k in profits so far and I just acquired my first house in California, happy I made that decision.
Forex? How does that work, aren’t there risks involved I would like to know more on this
I employ the expertise of a pro for that, Benjamin ravies because it isn't as easy as it seems
I was planning on buying a new BMW this week after saving up I think I will make a u-turn and weigh my decision, I will like to know how I can get into Forex trading like you do
Well, I understand there are risks involved in Forex trading so is there a higher risk in not trying. Can I have a way to access him
Benjamin ravies
That’s his gmal okay
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
all these families over paying huge amounts are going to suffer when the market crashes.
Same with car loans. People overpaying by 5-15k will be in a rude awakening with things come crashing down. Especially with the fed raising interest rates.
Yes. This happened to me in 2007! I bought for $156k and 6 months later the house was valued at $75k. It was awful.
Hahahahahahahahaaha lets hope it crashes and lets see them burn
That ain't happening thai time I'm afraid. Demand is far too high, supply too low. The financial gap is wide than ever and growing.
At least I have a place to live! It’s still cheaper to buy a home than rent…also I bought in 2016 for $375k fixer (the upstairs is not livable) for a 1 bedroom for 4 people which is kind of a deal
I know many would disagree with me but I seem to remember that back in the 40s and 50s and even in the early 60s there were homes called newlywed homes or bungalows, these were 1 or 2 bedroom homes of less than 1200 sq.ft. they had 1 bath and were small but they gave young people the chance to have their own home. Society today has this feeling that bigger is always better but in reality how much do we really need, you can always trade up as your income and family grows. This is why so many are turning to off grid and the tiny home market.
Many people want them - both "newlyweds" (i.e. anyone just starting out) and empty nesters looking to downsize - but they're not what builders want. Especially with high cost of land and materials, builders are scaling up home sizes to create a bigger profit margin because small homes don't. I've also heard that some areas and neighborhoods with bigger homes don't like the smaller ones being added because it brings the average price down, which hurts existing residents when they go to sell. I'm a big supporter of building smaller homes and housing units, but not everyone agrees.
I asked for a price on a one bedroom apartment and the response after fees was almost $1k. I asked her why it was so much more than it was six months ago and a year ago. She had no response. I also asked her how have their costs gone up to warrant price raises. Her response was to tell me how much a two bedroom was... They do not care if we have a home or not. Their costs have not gone up. It seems to me another form of price gouging. They know our situation.
Depends on where this is. Could be high and could be very low in a lot of places
@@RacksonRacksonRibss It was the same all over town, they are taking full advantage of inflation and they know it. They are taking advantage of everyone's situation and they know it.
Not being able to collect rent for month after month AND not being allowed to evict is a massive cost, especially when the government that put a moratorium on evictions didn't put a moratorium on property taxes.
Property taxes are a local and state government issue. It would have been nice if all levels of government would have taken a little bit of the blow to help everyone across the board on property taxes.
Property taxes went up in our area for 2022 which didn't help. We weren't hit too bad and were able to adjust for the increase, but for some people the increase made a dire situation worse.
Why should someone care about someone else's living expenses Most should know nobody truly cares People should definitely focus on themselves more and stop waiting around for help. Nothing will change cost of living will forever go up and most still think rent will remain the same as the previous years. This thinking will keep you behind. Also stop having kids definitely won’t be able to survive with them hanging around as a liability.
I value all your information you put out there Grant! I do want to learn the Real Estate Business the way You play it! Just wish I knew this years ago! What does one do to get in that game if Im already close to 50 and lived most of my life working and house poor?
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.
@@harod033 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.
@@harod033 I must add that Ruth’s profile seems to be pretty knowledgeable, so I appreciate the tip. I completely read through her resume, educational history, and qualifications after finding her online, and I must admit, they were extremely remarkable. She responded to my message, and we have scheduled a session.
Easy answer:
GREED.
1. Wall Street investors.
2.Towns want the property taxes- higher priced homes generate more tax revenue so cities & towns won't approve permits for developments of smaller sized lower priced homes.
3. Builders won't build
small-home neighborhoods like they did in the past when homes were 800sf, cuz the town wont approve it &or the cost of engineering, site prep &building materials exceeds builder Profit on small-homes.
-We need Non-Profit housing districts to develop neighborhoods of (600-900sf) homes w small yards. They must be well designed w no wasted space & for sale to an income range such as blue collar ppl.
The main cause is "Builders won't build" blaming the supply chain issues
No, local government puts up crazy regulations. In Florida, they can build what they want, and they are building like CRAZY!
Blue collar people make money though it’s the retail workers that need help
Well said. Retirees on fixed incomes are being priced out. In CA, landlords can raise rents by 10% per year. Most COLAs are 2-3%. I was taught that rent shouldn't be more than 1/4 to 1/3 of income. Many are now paying 50-60% of income for rent. And Tiny Houses, that could solve some of this for first time home buyers and retirees aren't allowed in most places due to zoning. Corporate greed is to blame for higher mortgages and rents are tied to that. Mom&Pop landlords are following suit. The American Dream no longer exists. And more and more elders will be living in their cars. It's shameful.
A few solutions: don't allow corporations/investment firms to own homes, don't allow non-US citizens to own any US real estate. Do not allow anyone to own more than 2 homes max.
this
Woah the second point of nom US citizens is just INCREDIBLY stupid. The other two points, are fine… But frankly if we were to enact that second point, a lot of first generation immigrant families will just flat out not be buy housing, which is ridiculous.
@@suryamani1235 First generation immigrants can become citizens. Just like my parents did. You know, the legal and right way.
They own their own home now and are happily retired.
I’m with the first one but the other two are ridiculous.R
I’m with the first one but the other two are ridiculous.R
Since Biden took office, there seem to have been more unfavorable results in America. These results include effects on the markets, such as price declines and sharp increases in inflation, as well as bank failures. I wonder if the sudden increase in interest rates will help value investors or if it would be wiser to stay away from the stock and financial markets for the time being.
To "buy the dip" It will be profitable in the long run. However, investors should be wary of the bull run. It is advisable to connect with a skilled adviser to fulfill your growth objectives and prevent mistakes. High interest rates typically result in lower stock prices.
I truly enjoy having a portfolio coach to help me make market judgments on a daily basis. They possess a special combination of abilities that enable them to take both long and short positions, benefiting from the possibility of significant gains while also safeguarding against downward turns. I have had a portfolio coach for more than two years and throughout that time I've actually earned over $645k. It was a wonderful experience!
@@james.atkins88 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
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. Her expertise is impressive.
Buy gold
i wonder if there's a bidding war for every house, including the fixer-uppers.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
Here's the cliff note version of this video: greed, market intervention by government in the form of building restrictions and interest rate manipulation with sides of ego and narcissism the latter amplified by social media so that people can make themselves feel good about owning something they can't afford.
You're now free to move about the cabin and enjoy the extra time I provided you this morning. 😊
Thank you
Thank you
Captain speaking: "Meanwhile apartment prices have skyrocketed too so don't imagine you'll just downsize/move into an apartment our flight attendants will now take your drink orders thanks for flying..."
And that anyone can buy a home, even foreign investors
Because the corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
How did we get: Greed. Here, there, anywhere. Most of these issues start with greed.
Because the corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
Wrong. It's not greed. It's too much demand and that pushes the price up.
It was definitely hard to buy a house during the pandemic, my parents tried buying one. Each house we looked into people were always placing high bids. Everyone is desperate to buy a house, it’s a competition, and if you don’t have much money it’s difficult to obtain one.
@Noplaylists what's funny about that statement is that it's easier to finance a car, furniture, a car stereo system, etc...than a home or property. You don't need a 20 percent down payment for a home but you can buy that car stereo for 20 bucks a month at high interest. It's funny how the world works. So you see poor people walking around with iPhones, expensive cars and trucks with nice sound systems, Jordans, jewelry and such because it's easier to get. A lot of young people today don't even think about owning a home either because generational wealth wasn't handed down or they don't save money for whatever reason. I know people who have taken the vacation of their life but are one paycheck from being homeless. They were able to make small payments for that vacation but no one sets up payment plans on homes where small payments can be made. So now it's a competitive market and even someone like me who makes over 70,000 in a non health care position at a hospital can't buy a house. It took me 30 years to even make that much. Even folks that I know that are nurses making 100,000+ a year are living 2 hours away because they can't buy near their work. Houses in my old neighborhood where I grew up which are like 1200 sq. ft. homes are going for a million because of Google and Facebook. It's a dog eat dog world out there.
During the pandemic was a great time to *not* buy a home.
- I understand that's not always practical.
But, borrowing was cheap, people were flush with cash and many builders had significantly reduced output; making it the worst time to buy.
Waiting for a better time to buy will pay dividends.
- Obviously timing the market isn't really possible, but the pandemic was an outlier.
Look in less desirable locations, shitholes like Danville and South Boston VA, for example. One can buy a single-family house on a third of an acre for $60K there. Open your mind.
Real estate in the US is rising rapidly, pricing many families out of home ownership. The problem is that many homes and land parcels are being purchased by companies and people overseas as an investment. What we need is legislation that requires US citizenship to purchase homes and land in the US. It's not unreasonable to think that owners of homes and land in America be American citizens. American citizens should not have to compete with investors living outside of America to live the American dream of home ownership.
Holy shtt that's dumb lol
Once again it's the Chinese's fault
@@devinnall2284 Chinese are not the only ones outside of the country that are buying real estate in America.
Good idea. Also do it vice versa. No American can buy a house in any other country. Your trapped like rats
Russian oligarchs and wealthy boomer investors are also at fault.
Many legislators across the country and their bankrollers clearly helped to monopolize/corporatize up the apartment industry during the Pandemic by running all the middle class mom n' pop rentals out of the game. Under the guise of Moratoriums they ordered them them to house people for free as long as a year or more while dragging their feet on rental assistance until they broke.
Exactly what happened. Mom and Pop is much easier to negotiate than big business.
Amen to that!! 💯 You definitely are telling the truth!!
This comment is golden!!!
@@annaire8491 I wish someone would say that on the corporate owned media because quite frankly it looks like some of them were paid off/in on it.
What a bunch of bs
Another problem with zoning is they don't allow people to build smaller houses, because they want to keep property taxes high for the city and county governments. That has to change. WHY does every house have to be a huge Mc mansion, when many people only need, or would prefer, to live in a smaller cozier house. Many who can't afford that large house would have no problem paying for a smaller house...and the property taxes, heating and air conditioning bills etc would also be much cheaper for a smaller house too, all while saving wasteful energy use at the same time. It all comes down to greed and control, because the current system purposely creates laws that make things continually more expensive...so the banks, local governments and energy producers etc all make more money at our expense, poor people are locked out of the loop, and we have no other options.
100% agreed and wish I could like this comment 1000 times.
Surely an apartment complex would have higher property taxes than a big house?
@@izdatsumcp Usually not because apartment complexes are owned by corporations. Corporations always get lower taxes than real people.
Usually because of all the government regulations just to put in the infrastructure. This doesn't leave any profit margin left for the builder if you make something small.
@@M123Xoxo I bet that's based in absolutely nothing specific. Have you looked at any numbers to say apartment complexes miraculously yield less money than houses? Or is it just something you'd like to believe because you prefer houses/hate corporations?
"we have a shortage in housing", WE HAVE SO MANY ABBANDONED HOUSES
It really depends on where in the US you live. Most of the job growth since 2008 has been concentrated on a handful of urban areas. Live in Austin, Seattle, Portland, or Phoenix? You've got tons of jobs with hordes of young workers moving in and expensive housing. Live in a rural area that's never recovered jobwise from the great recession (as in most of them)? Yep, there are houses for cheap but good luck getting a job that will let you afford it.
Farming's been automating and dropping its labor force for decades now. Small town manufacturing has dried up as everything either conglomerates in large cities or ships overseas. Most of the high tech jobs concentrate in a few metro areas and it's difficult to get a good start as a young person. Japan's been slowly dealing with similar issues since its birthrates started dropping thirty years ago. We're just catching up.
that depends on where you are. If you're in the Rust Belt then sure there are lots of abandoned homes but housing prices aren't that high either.
All the corporations buying houses take those off the market permanently. They don’t ever come back. If a house that has been bought by these corporations does sell it is sold to another company. The homes never become available as family homes again.
Ban corporations buying up blocks of family homes. Limit investor purchases to a small number of homes spread out over different communities. Investigate the financial backgrounds of multiple homebuyers to see if they are using different names and corporate identities to get around rules limiting home purchases! 💔🇺🇸
You can blame the rent moratorium. These corporate buyouts were a god send to the thousands of small landlords that were facing bankruptcy .
The corporations are in bed with the govt scheme - they buy up all medium priced homes and let the taxpayers pay rent via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free on his $$!
@@stanleyhape8427 True and thanks to the corporations turning the homes into section 8, the rent will always be paid and they will have indebted
sl a ves forever at taxpayers expense and no affordable homes for the taxpayers paying the tenants rent
Genius!
That's a BS talking point. Corporations are not buying it.
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further
The main problem is that most folks don’t care about anything other than football, Basketball and Music etc. They find it normal to take credit card debt which will cost them 20percent per year but considers it risky to invest their money and make 10percent or more per month. Learning to avoid high interest debt while also learning how to put your money to work for you by investing is a very powerful combo
We must consider safer investments with promising returns in order to plan for the future. If you approach investing with a five-year perspective and simply DCA whenever you receive a check. Under the direction of my investment advisor, "Deborah Jean Dykstra", whose expertise in portfolio diversification is unsurpassed and client-focused, my portfolio has gained almost $643k since January 2022.
@@BenjaminMcLeod815 out of curiosity I did read about Deborah on the web. she has a great resume.
@MarcoPolo-oy3mh Your USD are losing at least seven percent per year in purchasing power. Even properly invested, you are paying for inflation by proxy to corporations in which you invest. People like to crap on Bitcoin, but Biden can't print more BTC to finance his largesse with Ukraine and Israel. With USD, he can, and does . . .
Property Taxes as well have become an issue in how assessments are done and the "Services" havent gotten better
Here on Guam 3 bedroom houses built in the early 90s go for $500k+ which is still considered a fixer upper.
For renters you are required to make 3x the monthly rent, 1st month's rent, 1 month's rent for security deposit for a 1 bedroom apartment going for $1,000 in a 70s building. 🤦🏽♀️
All the while the median annual income is $27k...if you're lucky.
America, land of the free home of the select few... 🤷🏽♀️
So who is buying the $500K plus housing?
$33 billion to Ukraine to fight a senseless war, $0 dollars to the homeless citizens of the country. What a time to be alive
Do you think the US should cease all foreign policy as long as there's a homeless person? You know homeless people get food stamps, EITC, stimulus checks, and Medicaid right?
@@spacetoast7783 Citizens first my friend. Help yourself first before you help your neighbor. That's common sense.
My husband and I moved into a small home in a nice walkable neighborhood and it has been life-changing. We can walk, ride a bike, or a short ride in the car to parks, community center , 2 grocery stores, restaurants, gas and it goes on and on. We Love it.
is it in suburbns?
I am back 5 miles to a store.i just want to pay my pay my Bill's and what time I have left on this earth I do need help but I dont no were to start
That sounds wonderful.
I also bought a small home that is walking distance to a Hispanic market (which is awesome when I forget cilantro from HEB lol) and its very close driving to 3 other stores and a church and a park where I ryn with my pup. I got lucky!
@@randommonkey4900 yes
It's been quite a LONG time since a single family home or "starter" home has been in the construction vocabulary. All you see being built today are 4-5 bedroom Luxury homes or Townhouses. Part of the problem is that the builders are looking for a larger chunk of profit off of the build, same as manufacturing and industry increased the profit margin they have had over the last 40 years, while the workers get minimal increases in pay if any.
yep. In most areas, the minimum square footage is between 900 and 1, 000 sq ft. But, supposedly, 30+% of people live alone and need only about 450 sq ft - case by case. I'd love to see more tiny house and also small house (900 to 1,000 sq ft) communities. The square footage of a house doesn't need to mean worse style or uglier landscapes or cheaper materials.
Same for apartments, too. My state's population has been exploding since Covid and they are building everything left and right....all "luxury", of course. I can't believe there are *this* many people moving in with that kind of money.
My mother has been in mortgage profession for 30 years and it just seems like a giant money launder to me. Where else is that much money being transacted back and forth? Not many avenues. Obviously it's going to be tapped into by corruption.
When Tesla and Panasonic moved to Sparks Nevada....Reno exploded. The median home price in Reno is now $630,000.
This is great for folks who bought a house 3 years ago....but if you are a 22 year old college grad or blue collar vocational worker....you are screwed here.
@Mercy Ave Beats reno isn't affordable right now. Hopefully there will be a great big reset.
The root cause is the federal reserve keeping rates too low for too long. When i bought my house rates were higher but houses were more affordable. I got my house for under 90k. All lower rates do is increase demand and the price goes up.
90 k what state ????
lower rates don't mean increased demand, they mean speculation and lower lending standards. High rates mean people work and save to buy a home, low rates mean people don't save, they flip properties. That's what sends property prices to the roof.
Yup. The Federal Reserve is responsible for this mess. Same for the overvalued stock market. They basically exist as an institution to enrich corporations and the wealthy at the expense of Gen Y and Z.
No they weren’t building enough for decades. Low interest rates made the pandemic flight easier for more people.
Nonsense. For every buyer you need a seller, and vice versa.
Yet, the US housing cost to income ratio is still much lower than Canada, Australia, France, UK, etc.
Banning corporations from buying single family homes would help a lot. We are seeing corporations adding to the housing shortage in NY...
I love how she says owning homes is more affordable than ever? Even though the beginning of the video was how there weren't enough homes for the demand. And it's causing the prices of homes to skyrocket and the income isn't rising. And this generation of Americans that are supposed to be buying homes and starting families, can't even afford to move out due to student debt. So, I don't even get what she said at the end.
she said nothing because the news isn't meant to inform you it's meant to sway your opinion. They tell you it's easy to buy a home, it's really not, but everyone regurgitates their info and believes them without any actual real knowledge. idk why anyone listens to the news as fact you should literally treat it like those financial advice channels
Corporations, private equity companies and foreign buyers who don’t live in the US are buying suburban homes. This has led to an extreme housing shortage for first time buyers, as well as impacting the rental markets. State government can do something about this, but won’t. The real estate lobby as well as private equity lobby need to find other markets to make money. The public need homes.
@ Ope4 R I totally agree.
It's not corporations causing this. They're a symptom of the problem here; there aren't enough homes. If more homes are built (as in enough to the point the price of a home drops significantly) then corporations will leave the housing market.
Government the reason there less rentals socialist
@@christianmoore7109maybe should build small flat house instead big house just like most asian house
Builders don't want to build homes to drive the sale price down...... @@christianmoore7109
All the bot accounts telling people how to invest 😅
The reason for the prices of homes being so high is because corporations and other companies are allowed to buy " Family homes " for investment ( rentals, leases, etcetera ) purposes. Also, there are more than enough " Homes " to go around. Google " How many US homes are not occupied? ", Google answer: 16 million. And Google, " How many homeless people are there in the US ", Google answer: over half a million. Which shows an over abundance of homes at over 15 million. Something is definitely wrong with this picture. We are being lied to ... Makes me physically sick when I do my research on topics like this :(
"The reason for the prices of homes being so high is because corporations and other companies are allowed to buy"
-The sad part is that you actually believe that
@@virgilhilts3924 Corporations have created scarcity in the housing market by acquiring homes that would normally be available for individuals -- basically limits their selection and options. Any resource that is, scarce/hard to get, inherently causes a price increase because of limited availability.
@@ShawnRitch
Again, the sad part is that you actually believe that
Keep repeating the propaganda of your masters
@@virgilhilts3924 Well, if you have other/better info please share. I'm a seeker of the truth --enlighten me.
Because we let China and other foreign nations buy homes in the US even though they don't reside here. Canada has temporarily stopped foreign purchases of Canadian homes. There should be a 100% fee on all purchases of homes in the US by people who are not citizens or permanent residents in the US.
I know a whole neighborhood bought by Chinese investors. The majority of homes are empty. The rest are air bnb or used as vacation homes. This is the new normal. American citizens will pay foreign mortgage payments. The American way.
You loved it when the Chinese worked in sweatshops for you, you hate it that they've gotten rich enough to buy your stuff.
@@rickyayy And who sold those houses? The former owners were happy to sell it to the Chinese with dollar signs in their eyes.
That’s because the government printed like half of all US currency in the past year and a half, and China didn’t. The US and other western nations devalued their money severely, while the Chinese and some other foreign nations did not, meaning the get a great exchange rate, and they invest in a stable US housing market. The US also gets to pay off their foreign debts cheaper with intentional high inflation, and they don’t have to look bad and raise the tax rates on the people. Pretty slick tactic to essentially put a hidden tax on the people. Thank uncle Joe. If you voted for him, you voted for this.
Kick them out I hate china
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. 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. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
@@maggysterling33254 I've been thinking about going that route. I have a lot of stocks that I have maintained, but they are beginning to lose value, so I'm not sure if I should hold onto them or sell them. I feel hiring your investment coach would make it easier to restructure my portfolio.
I just watched a documentary about a shortage of good paying jobs in America, & that included contractors.
What's the documentary?
The US has one of the highest median salaries in the world
@@jsebby2284 This is true but this logic drives me crazy. Since it’s more about the value of the dollar and a million other LOCAL factors. Our numbers are the biggest but what that number can purchase has VASTLY declined. You can look up “adjust for inflation salary calculator” aka they need to be even bigger. 60K in 1980 would/SHOULD be… wait for it…. 224K! That’s right. Restaurant managers in a perfect world would be making THAT MUCH! Don’t even get me started on how much high salary professionals would be making! Our purchasing power has declined sooooo much! Even if the salary looks amazing from outside the US.
@@duncanbug yes there's a lot of factors you are correct.
But the US also doesn't have a high cost of living compared to other developed countries.
No - restaurant manager since a perfect world wouldn't be making 224K lol. I'm not sure why you just made up these numbers
Purchasing power everywhere has declined. That's just what happened over time with inflation. I'm not sure why you ate cting like this is a US only thing
BS.
It's tough. I'm 52 didn't take school seriously cause jobs when I was growing up were paying well and people were retiring with no worries from my opinion. I grew up, didn't go to college (my own fault) worked two jobs in my twenties to help myself and my family, got in at a hospital and ended up in a non medical field, been there for 29 years. The pay is still not enough for me to own a home. I had a home in my old hometown and sold it because my mom died, I had my grandmother and was on family leave. I was forced to sell the home because my Grandmother was on the deed, she went to a nursing home with most of the proceeds, I was afraid to buy again on my own, I mostly gave most of my money away thinking I was helping people...now I'm 52, can't retire, can't afford to buy, been in same apartment for 13 years which is below market and I still pay over two thousand dollars for rent and utilities plus everything else. Though most is my fault, those who are white collar or white collar tech and health care workers such as doctors and CEOs etc are affording homes....working class like me don't see a foreseeable future in home ownership. Where I see myself is in an assistant living facility, working at Walmart whilein my 70s. I don't see my future retired, enjoying my life. Wages, housing market, retirement....all of my fears. It's sad.
Never too late to learn a new skill!
Lots of great blue collar jobs that pay well (if white collar isn't your thing). Also, lower cost of entry for blue collar jobs.
You could have purchased after the Great Recesssion. My payment is only $1,000 & it includes taxes & insurance. It is a 2100 square foot 4 bedroom home in a nice middle class neighborhood. I am getting ready to rent out a room for extra income. So glad I bought when I did, even though it was a little scary.🏡
Move to Thailand, thats where I am now and its paradise
I don't understand. How long will people work hard and gain nothing from it? Why non working bankers be rich by just loaning money? They live in fancy houses that other people worked to build, they eat food that farmers produced truckers delivered and maybe stonework like you stocked. It's unfair workers like you can't enjoy the fruit of this society. It is extremely unfair situation right now.
They report in language like “people aren’t willing to sell their homes.” As if those people don’t have a need for their homes like having kids… the problem is people making the choice to buy homes at once along with greed. Nothing else
Well to be honest there’s some new elements coming into play.
-Boomers aren’t downsizing since millennial and Gen Z are moving/moved back in with them after not being able to save up enough with rent increases for a down payment
-Boomers/Gen X having at least one second property for income to compensate for retirement SSI that wasn’t enough to compete with inflation and a overburdened poor healthcare system.
Basically the US procrastinated on its homework assignment of… making society adjust for new people being born. This same issue actually occurred in Japan but for different reasons.
Same situation, I moved 2 years ago to the Philippines starting from the pandemic because I'm having a hard time in japan. The pay isn't even enough and the housing also keeps rising. I moved to affordable and comfortable place here in the meantime.
I can understand--the pay in Japan is abysmal. I'm not sure how people make it there.
I heard somewhere the average Japanese salaryman makes only like 30k US dollars a year and the companies there have brutal work hours :/
Amen to that! 💯
WHere in Philippines are you located? I moved there in 2017 from NL
Airbnb buying all your properties 😂😂😂😂
This is insane, it’s not affordable for most of the people to own home. The American 🇺🇸 dream has become more difficult 😞
The American Dream is just a Fantasy
@@albundy3929 i love you. leaving comments on every comment, meanwhile you probably live in your mama’s basement lol
The American Dream is fantastic! You just can't build in a liberal area, that's a nightmare.
Many have asked for too much and are stupid enough to think the rich will be forced to pay for it, but the rich have $200-an-hour lawyers and accountants who get them out of paying. People vote in politicians offering free stuff and then complain when taxes go up.
The American Dream is just a ....dream.
There were bidding wars when I acquired my property 13yrs ago, especially for single story homes. They are like gold, and you will pay! Cash buyers were locking people out back then too!
After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads in deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?
Concentrate on two main objectives. First and foremost, keep yourself safe by knowing when to sell stocks to reduce losses and maximize gains. Second, prepare yourself to gain from a market turnaround. I advise you to seek the advice of a representative or financial counselor
In fact, ever since Coronavirus, I've been in regular communication with financial examiners. Nowadays, buying moving stocks is quite easy; the trick is knowing when to buy and when to sell. The section and leave orders for my portfolio are made by my counsel. accumulated more than $550,000 from $150,000 in savings that were initially stale.
Please provide the information for your investment advisor here. I really need it now.
She is *PRISCILLA DIANE AIVAZIAN* , my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.
@@veramonique1724 sincerely thank you I looked her up on the internet and was awestruck by how qualified she was; I contacted her since I need all the help I can get with canning. I've just scheduled a call.
Even if you want to badly bough a house, remember if it doesn’t make financial sense it is best to hold off until you can find something that makes sense. You don’t want to be upside down or stretching yourself to thin.
Ever heard the term "starter house"? That's how it's done.
Unfortunately, rents have also gone sky high, so for many people it's impossible to put away enough money to even secure a mortgage. Even then, lots of 'starter homes' are over $250k in most places
LOL the advice they give is so helpful! "Just be sure to have a lot of money in savings and you will be fine." Ok! Great! No problem LOLOLOL when so many of us have jobs that just barely covers our bills... 🙄
They failed to mention that billionaires and corporations are purchasing homes and holding on to them. They are purchasing farm land as well. For what that’s for us to find out.
I sold my home in Texas in the summer of 2022 it was under contract within 8 hours of putting it on the market. We had a cash offer and took it. We then moved to the north east to an area where homes were much more affordable. We purchased the second house in the fall of 2022 as the prices started to go down. We were able to pay cash for a bigger home on an acre of land for $80,000 less then the house we sold in Texas. This is now 2023 and I see that Texas and Florida home prices are really starting to fall. I was just fortunate to be able to do this.
I appreciate your approach to teaching..
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough, we just need to hold onto our hopes and wait to see how things turn out because market movements are almost always unpredictable. In my portfolio, I'm noticing more red than green.
@shane heried I know and am not doubting it
I understand people are good at learning by imitation, i found her website proficient and left her a message
Overprinting...is why there expensive..value of the momey going down while simultaneously raising mortgage rates. Every single real estate listing in the US should say 15,000% chance more likely to get nuked then 4 years ago..Factually speaking in real estate terms...or is safety of the neighborhood not relevant to pricing anymore. Guess we only count metrics that are convenient to Real estate owners
This comment has aged well
See our parents & theirs didnt plan/fight well. They installed spy tech cages after that and then let the schools abuse their children etc.
They were too busy working 55 to 65 hours.
Instead of taking a step back; rebelling. Etc..
Now corporations run us like slaves or else.
If somebody wants to (and can afford to) live in a large single family home and be surrounded by other single family homes, well done to them and that's perfectly fine. I don't think anybody wants to ban single family zoning. That being said, the country is in serious need of an alternative concept, which is: medium density (not high rise), mixed use, transit oriented (walk/cycle/rail) communities.
Bans on single family homes zones is a ban on ONLY single family home zones, not a ban on single family homes themselves. So it gives the right of developers to build anything from single family homes, to apartments and everything in between.
Banning SFZ is not the same as banning single family housing. Banning SFZ would mean that you're not REQUIRED to build SFH, but you still can. Many developers would happily build mixed housing with SFH and duplexes and apartments, and throw in some small businesses, and you've got yourself a nice walkable neighborhood. When you've lived in a mixed neighborhood, you don't want to go back.
Bethesda, MD is not a positive example. Nearly everything built that can be bought is wildly unaffordable. Even the high density housing is unaffordable. Above 1M for 2-3 bedroom condos and you get the privilege of having your annoyingly pretentious neighbors tell you your children are too loud and your dog can't poop on the grass. I get what a lot of folks in this piece are saying, suburban sprawl is a soulless blight. But they're also not addressing the fact that high density housing is just as much of a nightmare.
2:40 I read something the other day about Goldman Sachs buying over 64 single family homes in or around Central Florida and 90+ in South Florida. They're buying up the inventory and pushing prices higher.
Yeap
It was an investor that Goldman Sachs is backing and it happened in central Florida Brevard county. They bought the homes at a premium and are going to rent them out for astronomical prices for a solidy middle class. They will all be rented out though and quickly, and will put upward pressure on the market.
Look into Blackrock
Start an investment banking firm and stop crying! No excuses!
@@johnyang1420 yes. That's exactly what I'll do. Thanks for the tip. Lol
The market is designed to create scarcity. Until that’s fixed, we’ll have issues
I didn't realize that there was an infinite amount of wood, concrete, metal, land, and labor that we can mentally will into existence! Amazing idea!
The fact that permanent shelter is considered an American Dream is pathetic as hell.
The standard of life in the US is incredibly low.
I rent in expensive areas for cheap and invest overseas. Who needs a back yard or any of that crap? Whenever I feel like it, I will call it a day and retire in Greece with free healthcare, beautiful weather, free education for my son and almost 0 property taxes. I love watching these videos to see again how stupid we are in this country.
This thing of most houses being in cute suburbs while cities are rubdown is what keeps me from moving to the US. In parts of Europe we are moving away from using cars and I am not willing to give up that pedestrian life :/
Sure 😂 you are welcome to stay where u are 😅
I’m looking to move to the UK (Covington, England, specifically) because The American Dream is dead in the US…
@@mickschievous Get ready for a REAL third-world experience.
@@shirtlesslager
I’m preparing to the best of my ability.
Not just in the US. It’s happening here as well.
My box appt is worth waaaaay too much.
Where are you? I’m in California. You can’t get a studio for less than $2k mo, that’s nuts!
Why does it say this video was posted yesterday? This has been up for weeks. I even told my brother the story of these NJ people selling their house for so much over the asking price over last weekend, days before this was posted "yesterday.".
Interesting
As someone who owns a luxury design build and land development business, the influx of private equity companies and the big 3 (BlackRock, State Street and Vanguard) into middle class communities and new developments is the absolute biggest issue. Increasing the supply of middle class housing is not going to help when they are either scooped up with cash on 0% interest from those entities or in more inceasingly common practices being developed by those companies directly. Luckily, for me, the custom build and luxury market has been substantially less impacted by this since you are building for the homeowner for the most part. From my experience, that is the only way to explain the discrepancy between the 2 markets. Covid is just an excuse for the rise in prices, but the reason for them not coming down is that people do not want to lose money on their biggest investment. Especially when housing is an essential for the everyday homeowner and a cash cow for investment corporations. As someone in this line of business, i am astounded that some sort of antitrust is not being brought forward on these companies.
this year will be a year of severe economic pain all over the nation.. what steps can we take to generate more income during quantitative adjustment?I can't afford my hard-earned $180,000 savings to turn to dust
@@BenjaminMcLeod815 Wow! That is astounding. Where can I find this Advisor? I have to profit from the market's decline.
@@Natalieneptune469 Look her up online; she has a website where you can get in touch with her.
@@BenjaminMcLeod815 i looked Corinne up out of curiosity and i can tell that she's really good. thanks for sharing
NOTHING IS GOING TO CHANGE this year.
lol
It’s hard to believe that it took 46 minutes to explain this.
Get-in-touch ⤴️, Let's discuss on Financial investments.
There’s a lot of complaining and excuse-making to pack into that time.
haha true 😄
t is just trying to get younger Americans to settle and change zoning laws and be happy with it !
There's no such thing as housing segregation. If you can afford it, you can buy a home anywhere.
That's simply not true. Banks discriminate against black people buying homes all the time. Just about every major bank has been sued for this. They also did a video on this very channel where a black women who could afford to the home she was applying for but kept getting denied and they had a white person apply for her and they where immediately accepted.
It is just trying to get younger Americans to settle and change zoning laws and be happy with it !
There's no housing shortage. If you traveled you'd know that. There's a hoarding problem. There are entire towns worth of empty homes and buildings all over the country. People need to stop buying all at once and force a crash.
Haha lol not gonna happen 😂🤣😂🤣
@@jameslocklear5298 ya never know.
I do not believe we have a housing shortage. There are many homes sitting empty and many people including myself who will never have a chance due to financing. Getting pushed out of my hometown with excessive rent prices. Thus is such a HUGE problem
Right! If anything, there’s a home buyer/owner shortage.
There really aren't that many homes sitting empty. No landlord wants an empty home that makes nothing when they could get the market rate for the place instead.
There are hundreds of thousands of homes sitting empty around the country. They sit empty for so long that they start to fall apart. The free market lets this happen. Wasted resources down the drain. There is no shortage of homes, just a shortage of jobs where homes and existing infrastructure are. Over decades we have centralized jobs and industry into the top 10 largest cities, with many small and medium sized cities left to rot. This is preventable and should have been managed. What has happened to the Rust Belt is unacceptable.
How can the rental occupancy rate spike suddenly to the highest in a generation? It's not like there was a sudden spike in the number of adults in America needing housing.
And you can only rent an apartment to some*body*... ie: a person.
Meaning without a sudden spike in the number of people needing housing, there can't be a spike housing demand.
(To reiterate, the number of people on the market for housing can't have spiked too much between pre/post-COVID, as there was no spike in children reaching adulthood.)
Housing is inelastic. Doesn't require a lot to affect the equilibrium on the supply demand curves.
Because the corporations thought to buy up all medium priced homes and let the taxpayers pay via the govt under Section 8 - which is precisely what these corporate owned homes are now. Big daddy govt (taxpayer) always pays and on time while that very same taxpayer is priced out of buying that very same home that migrants and low income are enjoying rent free
@@abigailh7715 While that can certainly be true, those corporations want to turn a profit. So sitting on housing without renting them out or selling them is a loss in profits.
Meaning that the housing they bought up should be on the market as rentals.
@@jetfowl The homes are on the market! Via rental income paid for by section 8 - the taxpayers. Rows of homes are now off the selling market and just rented through the govt scheme insuring decades of indebted servants
@@jetfowl It seems to me like a deeper darker plot than most are seeing. I'm not seeing it as strictly financial gain but power and control over the 'little people' - the lower classes than themselves, the 1%
As Klaus Schwab stated "you'll own nothing and be happy"
The govt will provide all our needs and we will be their sl a vez
Foreign buyers are a HUGE problem in some areas. There are tons of foreign buyers (largely Chinese) buying expensive homes in the US then leaving them empty because they live overseas.
I always thought you had to be a citizen…I guess the American dream no longer exists if foreigners can just buy land and leave.
Building up just means you're living under a landlord or a condo association. Is that what people really want in the long term? How can you expect people to raise families in this hyper dense urbania?
Heh. People whining about home prices increasing only to buy a home, doing $10k worth of renovations, and then selling for $50k more or renting them. In the meantime, the house is 80 years old and deserves to be torn down. Housing, as an investment, is good for 3-5 generations. The whole system is a game of pass the grenade until the last sucker gets a 120 year old house that blows up in his face. It's a game where you screw over other people and then get screwed yourself.
Others come in with progressive and economical ideas like tiny-homes, prefabs, communal-oriented design. But home-buyers are risk averse, the lending infrastructure, zoning rules, and labor force skill gap hasn't caught up so those ideas get rebuffed.
Real talk.
After selling a couple homes in 2022, I'm anticipating a housing crisis in order to buy inexpensively. As a backup plan, I've been thinking about purchasing stocks. What recommendations do you have for the best time to buy? On the one hand, I keep reading and seeing trader 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?
Most people are unable to handle a fall since they are accustomed to bull markets, but if you know where to look and how to get around, you can profit handsomely. It depends on your entry and exit strategy.
The fact that the US stock market had been on its longest bull run ever makes the widespread worry and enthusiasm understandable given that we are not used to such unstable markets. As you pointed out, it wasn't tough for me to earn over $780k in the last 10 months, so there are chances if you know where to go. I hired a portfolio advisor since I was aware that I needed a solid and trusted plan to survive these trying times.
@@patrickperez7387 Because of the big declines, I need assistance on how to rebuild my portfolio and develop better methods. What city is this advisor located in?
@@amiltondavis Funny that you brought that up-I can definitely sympathize. I'm not sure whether I can say this, but look up "sharon lee casey"; she received a lot of press in 2020. She also manages my portfolio
@@patrickperez7387 She has an impressive profession and impressive qualifications, so I can see why she is so busy. I thus quickly copied sharon's full name and entered it into my browser.
And all of this for wooden houses 🏡🤦🏽♂️
Cheers from west Africa
🦅
So what do u think this obly happens in US it happens in Canada too as if Africa is so mich better
It depends where you live in America. Wood houses are illegal to build where I live.
Haha true
Woods are strong.... they are built off cardboards....
Somebody lied to you ......I have a brick house sweetheart. Right outside of Chicago
Attempting to build in California. There are SO Many rules/ permit fees, before the shovel even hits the dirt, you're out almost 50K. It's the State Laws that make it so expensive!
I was raised in NJ and still live, my parents bought our house for like $250,000 in 2004 and is right now selling for $500,000 to $600,000. Literally every single house around us is around that price range too and I’ve been looking for houses around where my job is and the prices aren’t any better lmao. I make $21 a hour and moving out feels at this point like it’s a dream. When I was in high school, I thought you’d go to college, graduate, get a good paying job immediately out the door and that’s when your life will begin. It took me so long to find a decent job after college and if I wanted to move out comfortably, it would be a realistic option once I make about $30 a hour which will take me another couple of years of waiting to move up at my job. My parents treat me like im a still a child and always critique me in everything and I just want my independence. I can see why so many of us are depressed! Young adults have to have their independence in order to be productive members of society and that core stepping stone isn’t even an option for an overwhelming amount of us. Imagine how people would be nowadays if good wages and career were widely available with affordable housing.
In my 20s, I was you. I still live with my parents. I learned to place my hope and trust in Lord Yeshua. For God so loved the world, that he gave his only begotten son that whosoever believes in him shall not perish but have everlasting life.”
I'm 21 and want to move out but I honestly can't. I'd love to buy a house, but everything is so expensive and I really don't want to rent since I feel it's money wasted. I'm just gonna keep saving
Don't move out ! Stay with you family they kick you out ! Life is very expensive it's not worth it. Save your money while you staying with your parents
I called a Realtor who laughed at me because I only earn $60k a year. She said the only thing I can afford in the USA is a tiny home, six feet underground. The Neighbors are quiet and I'd be able to rest in peace.
Oh my god, that's a horrible experience! An earning of 60k should be more than enough.... Sad place we are in!
@@jessi-rey I was half-joking. Real Estate Agents have laughed at me for looking for a place to live on my hard-earned salary. But they never suggested I move into a tiny home six feet underground. At least, not yet. I wouldn't put it past them.. It is sad that, unless you are a millionaire, you can't find a place to live in New England.
🤣
Update: This weekend I was approved for an up to 300k house. Found one that is only $249,000 in my area. Real Estate Agent says it is a "CASH ONLY" sale. Would have liked to have known why. Suspecting that it is an uninsurable lot.
No one will be able to live even in the smallest apart or house, no matter if it's in a township or big city. Homelessness will rise faster than a bullet train on crack.
Hedge funds started this and there is not a shortage of homes. It’s a shortage of affordable housing since wages are so low.
Depends, in California there actually just IS a shortage. Nobody built much after the 2008 crash. Nobody though millennials would even be able to move out. So they didn’t build for them. Why build for a generation who has such a bad debt to income ratio due to student loans? Why lend? I say this as a millennial, it’s so dumb. I hate that younger millennials and Gen Z have basically been wholesale abandoned by American systems.
In some places, homes are turned into air b n b and vrbo rentals. This reduces the amount of homes available for living purposes. I just saw a documentary on this and the numbers are shocking. Owners have found (investors too) that they can charge tourists a lot more than an actual renter. This gravy train has a trickle down effect. The long term result is going to be a disaster for the middle class.
Making me have second thoughts on the new house we are turning into an Air BNB..😣
I worked for the DOD for a long time. Traveled all over the world.
Never understood why a lot of wood put together is so expensive!!!!
Because it’s in the US. duh
USA.....GREED!!!!🤬🤬🤬
Same argument for Home Solar in the US.
It's magic wood.
Paying for experience of builders and wood. Need to be more reasonable price though like in the 80s.
So I just came back from Spain.
Picture this: 2 bedroom, 2 bathroom luxury apartment, downtown Barcelona, and near the ocean for only $600.
The biggest contribution to the increase is a mix of cul de sac system and the need to vastly increase our youth population (hence the increase in migration)
This Housing Crisis is the direct outcome of:
• Trillions of dollars of printing money irresponsibly by the Federal Reserve (Quantitative Easing).
• And keeping the interest rates at a record low for 2 decades.
Same thing in Poland. Printing money on behalf of the fight against covid, alleged social assistance etc. Prices of real estates, materials to build skyrocketing. Deliberate action
"Currently in the United States we have a huge shortage of housing." No, there's a shortage of *affordable* homes. Wages and pay are failing to keep up with inflation and the economy from what I've gathered. People can hardly afford anything. It's also crazy how zoning laws and policies are keeping the country from building certain types of properties in certain areas. I understand if its for conservation but the U.S. is literally massive and I know the government doesn't care that much about the environment, clearly. Not to mention how companies/corporations are able to come in and lay claim to entire rental and mortgage residences then essentially buy out competition and home owners. Maybe I'm wrong. It's just an observation.
Wages aren't failing to keep up with inflation
@@jsebby2284 But wages ARE failing to keep up with the economy though, right?
@@lrn5152 I don't really know what that even means.
@@jsebby2284 The current economic crisis. I've seen multiple sources state that worker's pay and wages are failing to keep up with the market inflation, poor federal management, devaluing of the dollar, and ultimately the overall economy. The U.S. isn't even projected to be the dominant economic superpower come 2030.
@@lrn5152 so you're talking about inflation. Which is what I addressed.
If you specifically look at 1 year then yeah it hasn't kept up - obviously given whats been going on. But that's not how you should look at wages vs inflation. You need to look at it over time
With inflation running at a four-decade high, the Recession is now the ‘most likely outcome for the economy and I cannot imagine being a victim of circumstances. My portfolio suffered a big hit, holding it further won’t be any good. I've heard of people netting hundreds of thousands this red season. How can I ensure this?
In particular, amid inflation, investors should exercise caution when it comes to their exposure and new purchases. It is only feasible to get such high yields during a recession with the guidance of a qualified specialist or reliable counsel.
True, initially I wasn't quite impressed with my gains, opposed to my previous performances, I was doing so badly, figured I needed to diverssify into better assets, I touched base with a portfolio-advisor and that same year, I pulled a net gain of 550k...that's like 7times more than I average on my own.
This aligns perfectly with my desire to organize my finances prior to retirement. Could you provide me with access to your advisor?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Ha! Try Canada. Average house price is around $700k and climbing. You pay $2 million for a literal shack that's falling down in Vancouver.
not to mention the 100's of thousands (and growing) of homeless people across the entire country
There is plenty of homeless in Japan and Korea. Look it up. Even better go there and witness it.
@@Qunyc1985 yea, but who has more homeless people?
@@chuckyyes Tell me. Since you personally don't have a passport and can't afford to live. Go ahead, set yourself up.
A hot mess, inside a dumpster fire, inside a trainwreck...
@@ufo_vid9694
Maybe if D.T. would've tried to manage the pandemic responsibly even a little bit, when he was first informed about it in December 2019 and again when it reached U.S. shores of the in January 2020, rather than politicizing it and calling it a Democrat hoax, then maybe we wouldn't have suffered and wouldn't still be suffering with as many issues as we've been for the last two years!?
@@kryptonarie6367 Orange Man Bad
Joe Rogan Bad
Elon Musk Bad
keep voting democrat it might get worse
This is an easy explanation. 1. Cheap debt. 2. Inflation. 3. Low supply due to lack of construction AND low rate refinances. 4. Demand from every angle causing euphoria and FOMO......That's why.
People who want affordable housing? There's no such thing. Builders only make what's making them money based on costs of land, labor, and materials. Demand has outstripped supply since at least 2013 (has anyone ever bothered to ask how so much supply from 08 swung the other way so fast). Investors, foreign cash, high COL transplants pounding lower markets, and low interests rates, caused this mess.
Only way anything gets back to normal is for it to crash. Companies and people took huge risk buying over inflated assets when rates were low. Now that they're coming up? The market will shift.
There are booms and busts in every asset. Housing isn't a unicorn that is exexempt. No such thing as a risk free investment. And that's what people did since before COVID, and it got much worse after.
Thanks for this information 🙏. Keeping your health 🙏😔.
Investing in the house is a waste of time 🤦♂️ rather invest in a company
Hopefully you’re right but many disagree with uou
@@Jay-ql3gu I said it will shift, but there's the wildcard of if the government will step in. This was supposed to crash in 2020, but then the moratoriums and forbearances.
I've lost faith in the market because this sent the message to investors that they would be saved. The govt eliminated the risk for them, and now here we are. This is what happens when everyone expects handouts, and doesn't take accountability for taking financial risk and being irrational and irresponsible.
If this gets bad, & the government steps in again? Not only will I lose all faith in capitalism and submit this is all propped and fake, it will guarantee that future generations will probably not own their homes. This is how bad the effects low rates and bail outs has been on the market.
But you'll see some sap crying about being evicted or foreclosing, because they were too foolish to be responsible with the stimulus checks and unemployment. Or the big investors who'll appear before congress telling us they were too big to fail. I mean just today, I read on how big the PPP loans were scammed, & we paid for that.
This isn't on the banks this time. It's on everyone who milked this free money. And the Fed knew this was what could've happened.
as far as i know, housing is expensive everywhere in this world, greed
America: “houses are so expensive here”.
Canada: “hold my beer” 😂
That'll be a BIG AMOUNT of beer to hold.
Canadians feel the need to insert themselves in every conversation about the US. Canada is a small country with no notable industry compared to US and constantly trying to get attention by associating itself to the US somehow. So stop with the comparison.
@@alalehrazmjoo2850 Canada is 1.6% bigger than USA. Get your facts right bro.
Canada's population is is roughly 10% of US. We're not talking land wise smart ass
@@WackyNZ I'm sure he means population wise (which is true). Land size, yes Canada is bigger.
Population, Economy etc. Canada is without a doubt smaller. Hell, one US state is more populous than all of Canada (California, with 38/39 million residents).
Simple answer our economy is a joke where people just speculate with there money. No one actually producing anything. Everyone just wants to make money with money. Need to build more houses and stop the residential housing investing by big business...
Why wouldn't you want to make money with money? Its smart.
Would you rather work 10 hours in the hot sun swinging a hammer or sit in an air conditioned office collecting rent checks?
@@youtubesucks1499 cause it produces nothing. U can't trade capital gains. How many people do u hire to speculate? Not many...
@@jameswilliams2182 Actually, investing in a stocks is investing in the company who uses those funds to raise capital for growth and that creates jobs.
So would you rather swing a hammer 10 hours a day or sit in an office monitoring your portfolio?
@@jameswilliams2182 James, what do you think a Wall Street analysts does?
They evaluate stocks and trends.
@@youtubesucks1499 do they make up a large part of the US workforce? didnt think so...
I mean it boils down to the desire for people to own all homes so they can be rented out for profit. So everything is being done so that Americans can no longer buy homes and must rent.
It’s a sick practice and Un-American in every way. People should be able to own a home, like in the previous decades.
Capitalism and the free market is the most American thing ever.
@@ocampbell1954 It’s not American in the sense that the best parts out our country and those ideals are not represented by this. In terms of the worst of this country then yes this is entirely that. It’s not free market capitalism at all. It’s an oligarchy of which our founding fathers fought hard to get away from in the first place.
@@Nullzeros What are these ideals you speak of because there are a lot of people who in this country who have never experienced these ideals you speak of. They are the ones who are being hit the hardest by this economic issue too. Everyone was not given a piece of the American pie if you understand what i'm saying.
Ah yes, heavy regulation of land use is the most-American policy!
@@spacetoast7783 How’d you come to that conclusion? Didn’t say anything like that, you just kind of assumed quite a lot.
People don’t want to own apartments and townhomes. They want single family homes, so that “solution” is flawed. Super flawed.
dont worry, the much needed US$ 40 Billion relief fund will be handed out real soon... to the Ukraine...
I know. Idiotic politicians!! 🤬