"The Housing Market Is In Trouble!" - Why You Shouldn't Buy A House In 2024 | Morgan Housel
Check out the full interview here! - • 99% Of People Watching...
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@NicholasBall13019 күн бұрын
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
@EleanorBaker474
19 күн бұрын
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
@StacieBMui
19 күн бұрын
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@StocksWolf752
19 күн бұрын
Could you kindly elaborate on the advisor's background and qualifications?
@StacieBMui
19 күн бұрын
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
@crystalcassandra5597
11 күн бұрын
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.
@MarkLeonard-xn8zsАй бұрын
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
@SmithJones-yx1ut
Ай бұрын
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
@Williamsmthe
Ай бұрын
How did you achieve it? I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up.
@SmithJones-yx1ut
Ай бұрын
She's "Tenley Megan Amerson ". Also maintains an online presence. Just make a simple search for her name online.
@DavidLuiz-nd3dn
Ай бұрын
Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.
@user-zg1vm8ub7r
12 күн бұрын
Check out all of the multi million dollar homes in Cali, and 90% of them are empty. The rich buy up all of the good land, and they don't even live there! They just want to own everything!
@DeeJayDyerАй бұрын
So sick of people talking about the low unemployment rate, without mentioning the quality of those jobs. The gig economy, the stagnation wages in relation to productivity, it’s so dishonest
@BPoweredLove
Ай бұрын
Not to mention that the number isn't even accurate to start with. Unemployment is not remotely close to "less than 4 percent".
@DeeJayDyer
Ай бұрын
They take people off the count, after one year!! They legit changed the definition
@andreamathieu8996
Ай бұрын
Exactly! So disingenuous.
@vtec224
Ай бұрын
doesn’t unemployment rate only count people receiving unemployment pay and doesn’t account for people who straight up don’t work?
@DeeJayDyer
Ай бұрын
@@vtec224 might be wrong.. but there’s people filing for unemployment assistance that can be compensated a percentage of that pay if laid off due to no fault of their own. And then there’s just the unemployment rate, that is total percentage of working age population that is actively looking for work. I believe after one year of being unemployed, you’re no longer considered part of that pool
@yodojo3493Ай бұрын
This dude actually believes poor Americans still have that 1200 dollars from covid. Yikes Tom.
@hogue3666
Ай бұрын
That's where he lost me. 2020 was the largest transfer of wealth to the S&P 500 in human history. It'll just trickle down to the leiman though. :)
@alanjosephproductions
Ай бұрын
this content is likely old ... I watched some of Tom's stuff that is eight months old but, just published .. I know because they sometimes mention the current date. ☹
@janelbrookshire7011
Ай бұрын
@@alanjosephproductions That would make more sense… Most everyone I know wasn’t in a position to save it!
@legomaster7770
Ай бұрын
Between state and federal unemployment and the small covid direct payments, I received at least $70,000.
@XeL__
Ай бұрын
rich people dellusion
@cmo5807Ай бұрын
Cant listen to a guy saying that right now people are better of financially than ever... I know more people struggling now that ever. Good lord anyone these days can write a book.....
@BPoweredLove
Ай бұрын
So I guess you're not picking up a copy? 😂😂
@XeL__
Ай бұрын
350 pages, but no one want to buy mine so i rant about it online for free. when im dead starving peopel can enjoy my free book lol
@NickBeKnowin
Ай бұрын
they are better off financially, people just buy stuff the dont need and dont know how to shop properly based on their situation
@anthonylozano8035
Ай бұрын
stop watching after hearing that
@BPoweredLove
Ай бұрын
@@NickBeKnowin I'm debating whether or not to pry your thoughts further. You're right about people spending incorrectly, but the "they are better off"... No.
@philipp3001Ай бұрын
If you close your eyes you can hear Chris from Family Guy
@algorsmith8381
Ай бұрын
🤣🤣🤣
@lati_da
Ай бұрын
😂
@LeonbanksJr
Ай бұрын
😂😂😂
@KEAHON
Ай бұрын
I thought it was RFK Jr.
@XAUCADTrader
Ай бұрын
I can't unhear this now!
@kevinellis92Ай бұрын
I laugh at these people who think 6k in stimulus checks caused every one in the U.S to stop working for 3 years. Crazyyyyy
@alexsulewski2497
Ай бұрын
It's not just stimulus checks its also PP loans and like 3 years of student loan forbearance.
@jakestarr4718
22 күн бұрын
i agree Kevinellis, go look at snap benefits listed. 82% of the population currently qualifies for snap/ebt. Information is being cleverly displayed where it hides what is happening. I am scared to buy houses honestly, not because i don't think i can afford it specifically. I just don't believe i'll be able to retain a job long enough to pay for it.
@g00bers24
21 күн бұрын
My check was gone in 2 billing cycles lmfao. Wtf is he smoking?
@jakestarr4718
20 күн бұрын
@@g00bers24 he's smoking other peoples money obviously and hasn't had to spend his
@user-fs2uy5ip4bАй бұрын
It is utterly amazing how convincing a super confident person can sound even when their ideas are trash.
@XeL__
Ай бұрын
when i hear carnist bashing veganism and whole food plant based diet "ah yes the 9 essential amino acid 2 essential fat and 0 essential sugar found in plants. vitamine nad mineral" "ah yes b1 b2 b3 b4 b5 b6 b7 b9 b10 b12.. what about b8 b11 ? and what do each of them do? source? absorbsion? mechanism?" broteinz tho gnut gnut meat tho gnut gnut yea i see that patern alot
@Ex_877
Ай бұрын
Agree, this guy's brain is trash.
@davedefea5530
Ай бұрын
Literally everything he says is backwards, in the real world. LOL
@RickyCarilli
Ай бұрын
100%. This is horrible.
@RickyCarilli
Ай бұрын
Tell me you’re a Biden supporter without telling me you’re a Biden supporter…
@Brightdays55563Ай бұрын
Rich boys are oblivious to real world people.
@truthseeker4446Ай бұрын
I feel like this guy is normalizing the shit our government does to cause these issues…
@spaceantelope1Ай бұрын
This man believes the statistic on unemployment, so it’s hard to take him seriously. It isn’t 4 percent, it’s closer to 15 or 20.
@jimg6970
Ай бұрын
Not even close. If you want a job there’s plenty of jobs out there.
@Dr.Sortospino
Ай бұрын
What?? Try to apply for a job that is not with minimum pay and tips and let me know how long it will take for you to get one.
@edmetcalf3283
Ай бұрын
Should have read the comments 1st... you nailed it
@osurulez35
Ай бұрын
Totally agree. People are working 2 or 3 jobs to earn what previously could be accomplished with a single job. Kinda basic if you have a lot of very low paying jobs available that isn’t great for the economy if most people are burdened with debt and living paycheck to paycheck. Can’t think of this guy as an expert.
@brianfantana6522
Ай бұрын
Its more like 55% they dont count college, seniors, stay at homes, disabled & anyone who hasnt claimed unemployment or reached the annual limit
@RealPeteRyanАй бұрын
This dude seems like he read a lot of things on the internet.
@taurus1305965
Ай бұрын
Yeah, all the wrong ones. 4% unemployment is laughable. In reality it's about 23%.
@Misaka-gt5yj
Ай бұрын
@@taurus1305965 This content creator doesn't understand nuance in statistics. Unemployment % is only due to the reportable values and doesn't include per diem labor.
@Wo1fLarsen
Ай бұрын
Agreed
@Wo1fLarsen
Ай бұрын
He's in a bubble, reading statistics.
@Tomana_
Ай бұрын
hasn't everyone? LoL
@BPoweredLoveАй бұрын
I've never heard one person go from being correct to wildly incorrect to back to correct so often in such a short amount of time. 1) housing market bubble shall burst 👍 2) unemployment is below 4% (untrue) 👎 3) very high housing market with high interest rates and high unemployment, "everything falls apart" 👍 4) lockdown stimulus "benefitted the poorest people the most" 👎 I'm too exhausted to continue. That's all just in the first 3 minutes...
@jasonnowicki5066
Ай бұрын
a normal person needs to sit this man down and explain to him how wrong he is on those two points
@smb2735
Ай бұрын
Almost everything this guy said is a sophism. Incredible.
@Jacob-py9mxАй бұрын
I am 23, active duty military and I spend like $1800 a month for a one bedroom apartment
@zombieapocalypse3837
Ай бұрын
I hope you're getting a decent housing stipend, when I first arrived at Travis AFB in 1998 the housing stipend had not been adjusted to the local housing market, it was eventually and that helped a lot. But I just ended up renting a room from homeowners that were also trying to make ends meet. Choose wisely when resorting to renting a room though, retiree homeowners seem to be the most stable that are looking for reasonable rental income for their rooms.
@Keepithonest7
Ай бұрын
Short term rental properties have caused some of that
@jimb3093
Ай бұрын
Hope you getting BAH.
@joshgraziosi8159
Ай бұрын
You need to live in the barracks, my man!
@RegretfulVet
Ай бұрын
Re-up for Hawaii duty station then ERD your spouse = BAH for Hawaii & Home of Record. I had to send my wife back to Boston from Oahu & i banked my dick off
@rickhaberman1202Ай бұрын
yep if I don’t eat. don’t buy gas, turn off electricity, self insure , inflation false information is correct. unemployment and real inflation are much higher!!
@ll2323
Ай бұрын
Maybe don’t drink water while ur at it. 😂
@XeL__
Ай бұрын
spot on. i either eat or pay rent. so i have to work to pay rent and give free time in shelter for food. 80 hour a week legal voluntarily slavery (if im not volontere im allowed to starve to death )
@beatdown3361
Ай бұрын
100 percent. Rice and beans. Beans and rice. Hide from the world or any activities. Shower once a week. Toughen up people!!!!
@ltdonnellanАй бұрын
I want to know who’s getting an 8% raise and in which industries?
@Dr.Sortospino
Ай бұрын
Semiconductor.
@faithsrvtrip8768
Ай бұрын
Government
@alexjones7845
Ай бұрын
Some of the higher skilled or specialty jobs. For instance, engineering types working for large corporations that are seeing large increases in company revenues year over year (partly due to increase in government spending contract) are having to increase compensation to their above average value employees. But, this really only applies to employees that can clearly show to their boss that they create value for the company's bottom line well beyond what they cost. Pretty common for those employees to see annual 8 to 10% salary increases each year over the last three years.
@BPoweredLove
Ай бұрын
In his head. He made it up. Or he is mimicking someone else who made it up.
@HarrisonCountyStudio
Ай бұрын
In general…. A super majority of W-2 income earners are Not getting an 8% raise.
@GalaticapeАй бұрын
For him to say that the poorest benefited most from lockdown is misguided. 80% of Americans live pay-check to pay-check they still had their bills to pay and with the cost of living has eaten up the small amount they were able to save. The wealthy benefited most they weren’t able to purchase their luxury cars, boats, holidays etc so they built up a huge amount of wealth.
@specialk2514
Ай бұрын
Truth!
@privatecitizen4001
Ай бұрын
I was cutting grass all day fir these rich ppl getting payed to not work. Lucky me
@deathtodiablo7402
Ай бұрын
@@privatecitizen4001I was cleaning there pools
@The1JBanks
Ай бұрын
@@privatecitizen4001doing HVAC new construction the whole time during Covid. We were considered essential I say expendable while everyone else set on their ass and collected a check.
@derylrobinson
Ай бұрын
The cash that was handed out to the poor quickly trickled up into the accounts of the rich. The rich used it to buy houses.
@dianabraley8307Ай бұрын
My hubby and I qualified for about 350k for a home in 2019 right before Covid hit. So we started looking into 2020 and we could only find very high priced condos and broken down homes. My hubby is a vet and the loan company would not approve a loan for any of those properties- so we were in limbo. So we decided to rent again and we are now in a high rent place 2500 per month and the same houses and condos are now 450-500k. I feel like I’m trying to hit a moving target. Each time I take aim and have my ducks in a row the target moves again.
@nomandatoryvaxing7433
24 күн бұрын
Move to a rural area. I sold my home on Long Island, NY for a $160k profit and took that money and moved to southeast Tennessee and bough my home cash for $215k. I also went from 3bed1bath to 4bed3bath. Went from 800ft2 to 1700ft2. Went from 0.15 acres to 3.5 acres. From $8500 property tax to $749 property tax. From high state income tax to 0% state income tax. From $140 car insurance to $47 car insurance. Plus I make the same exact money here. I went from living paycheck to paycheck and both me and my wife working to my wife being able to stay home and raise our children properly and enjoy her time to only me working and I don’t have to work a ton of overtime anymore and I’m now able to save $2,000 every month and that’s after investing in retirement too. You just have to bite the bullet and leave expensive places to live. Our ancestors would always follow the buffalo or move to where they could find land and water and we need to do the same. We can’t force ourselves to stay in situations that are not sustainable and that high rent is absurd. You can find really great places to live if you look. North Georgia is a really affordable place to live and very nice. Same with South Carolina. A lot of places actually. Good luck.
@maxamillie96Ай бұрын
This guy is delusional
@BrookePrice82
Ай бұрын
Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you
@StateAlchemist7
Ай бұрын
I think what he's getting at is that before covid people made the legal minimum wage, and now their income has doubled to around $15, so yes, they benefited the most as far as percentage. What he fails to consider or neglects to mention is that it cost $18+/hr to live off one job.
@agates9383
Ай бұрын
He fails to differentiate jobs from good high paying jobs - but he's spot on regarding the housing mkt, Im a builder in AZ and its f*cked
@1ireneaustin
Ай бұрын
BOTH OF THEM! are delusional
@MDMC313
Ай бұрын
Less than 8% of the trillions of stimulus went directly to the American people. Its been years now, when will these people stop acting like the poor got millions of dollars each and they are just sitting on this magical bags of stimulus money that's never ending.
@janelbrookshire7011Ай бұрын
The economy is good? Groceries, fuel, etc etc etc ~ This guy is delusional?
@Dr.Sortospino
Ай бұрын
But that’s the problem. The economic is Good for any metric you take. The problem is that the data are correct, but the map is not the land. Unemployment is low? No shit you need to jobs to survive.
@haleybloss9685
Ай бұрын
Yep! Delusional for sure!!
@MustbeTheBassest
Ай бұрын
@@Dr.Sortospinothis. The economy is doing amazing for 5-15% of the population. They've never had it better. Making record profits. Except for everyone else, who have lost half their spending power. I make 2-3x as much my parents did when they were my age and can't afford 1/3rd of what they could. The economy works great for the people who decide what to measure.
@utawmuddy5940
Ай бұрын
excelent observation, I feel like people pick a side ignore reality and quote stats that are clearly incorrect or do not properly depict the situation. I almost rolle my eyes when the stats come out weather correct or not just bc I feel like the gov and medical plus other industries have consistently destroyed the trust by consistently lying and trying to redefine words and new terms that aim to confuse and disarm. I was mind Fu@ked after a basic college stats class, "so what your telling me if you dont know enough and apply the wrong statistical method it will be wrong or if your smart and use the right statistical to achieve the interest of entity paying to do the study to "achieve their implied wants" then its considered right (it would have actually been better to use other method and it was their discretion so if went to court would be too ambiguous to go after) even though its wrong. @@Dr.Sortospino
@Dr.Sortospino
Ай бұрын
@@MustbeTheBassest I am in the 1% and the economy is doing good for the 0.05% . Everything will be shit until you allow people like Cardone and company brag about how they don’t pay taxes
@marcwilliams4246Ай бұрын
Guy clearly doesn't understand economics. There's massive supply restriction because of regulations and limited skilled workers. Until that changes prices will not go down
@peej91
Ай бұрын
supply is actually eaten up by investors. sooner or later they will be regulated more and more
@marcwilliams4246
Ай бұрын
1. Investors aren't looking to lose money. 2. Regulation would take political consensus and a willingness to shirk the donor class so I'll take later, much later. 3. Even if you got rid of the investors it's still a shear numbers game in which the demand for homes outstrips the supply by millions of units. Prices are going up because of inflation and the fact that people are competing for what's available and that's not changing without some massive market shifting event. 4. When the Fed eventually starts cutting interest rates housing prices will go up even more.
@peej91
Ай бұрын
@@marcwilliams4246 housing market can’t keep going up to infinity… it’s part of the reason why inflation is where it is. If the demand does not tame which the feds want I would not be surprised if they raise interest rates even more. More money being lent will make a bag of apples cost 100 dollars and that would be bad for everyone. When the fed cuts it will be when job losses occur or when the damage has been done. Which is why everyone is waiting. Signs already are showing
@John-wf5if
Ай бұрын
Record mass migration also helps price keep booming. It's effectively a population Ponzi scheme.
@misterogers9423
Ай бұрын
I agree. Look up Q4 2024 PE firms and banks holding residential real estate. 8 of the 10 largest portfolio are down, some massively. If it is isn't profitable, they will be much hesitant before they buy. A bigger crash will kick out the corpo holdings even more. That being said, I think there two many variables to predict things and individual market will vary wildly. The biggest thing I agree with the video is the unpredictability of the future. Too much emotion, and mood does seem down.@@marcwilliams4246
@BodhiTreeCIOАй бұрын
Former macro manager here. Consider yourself lucky if you’re currently renting. The next few years will be epic.
@Originalroyalguard
Ай бұрын
Absolutely. Excessive mortgage debt may prove to be a very bad place to be and today's renters may become tomorrow's buyers.
@wcsartanddesign
Ай бұрын
Saw the writing in 2016... had the chance to own, meh deal admittedly, chose to rent. It simply makes zero sense, atc. If I wanted to sheep myself off a cliff, I'm confident I can invent other less fantastical scenarios haha.
@paulroy2645
Ай бұрын
What do you mean lol
@eddiemalvin
Ай бұрын
@@wcsartanddesign You didn't buy in 2016 and that was a GOOD move? I guess it all depends on location. Where we live, home prices could drop 50% and they'd still be significantly higher than 2016 prices.
@mikestaubАй бұрын
Recessions are an innate part of fiat systems, not hard money systems. They are tools of wealth transfer as the asset-holding class understands how to ride the wave, but retail doesn't.
@IakonaWayneАй бұрын
eric weinstein told tom years ago, that young people have given up because they have no chance with these housing prices, educational cost, healthcare cost, and an onslaught of immigration.
@laj9832
Ай бұрын
It’s a lie from the media and left. They want to stop kids being born.
@joshgraziosi8159
Ай бұрын
That was the plan. It is working.
@firstlast-od3ojАй бұрын
I heard 8% raise every year on this video and another video mentioned 5% yearly raises. My question is what industry is this? we get 2-3.5 way below these perceived normal raises mentioned in these videos
@faithsrvtrip8768
Ай бұрын
Government jobs with public employee unions.
@privatecitizen4001
Ай бұрын
Congress and senate gave themselves a raise. Illegal aliens get free school and medical care and food stamps. Stop complaining and work five minimum wage jobs
@BPoweredLove
Ай бұрын
Oh, you haven't heard? In Fantasyland, annual raises are around 8%. In Utopiaville, the capital of Fantasyland, raises are even higher, closer to 15% annually.
@joshgraziosi8159
Ай бұрын
Agree. My company does 3% yearly. Doesn’t even keep up with inflation.
@firstlast2386
Ай бұрын
@@BPoweredLove😂😂
@edmetcalf3283Ай бұрын
I believe he is wrong, or has believed the Lie on.the unemployment... it's much higher. Many, including my adult children have stopped looking, as they cannot find a Job where they can afford to go to work & live...
@chrischris9157
Ай бұрын
So what do your loser kids do all day?
@Squiddster
Ай бұрын
The problem is most don’t understand the unemployment number. It only counts those people receiving unemployment benefits. People laid off receiving severance pay and not collecting unemployment benefits yet are not counted. Those who benefits have ended are not counted. And those who have stopped looking are not counted.
@richarddebono7092
Ай бұрын
He's oblivious to the fact that so many people lost decent paying careers & are now forced to work 2 & 3 shitty jobs. So, even though there are more jobs there is more work for less prosperity. He talks about recessions without mentioning a word on the boom/bust cycles that are created by inflating fiat currency. Totally clueless.
@Roninbuilt
Ай бұрын
Agreed. His believing “official”unemployment number ruins his credibility.
@edwardmiddleton3541
Ай бұрын
He is wrong on many metrics, including savings which are at an all time low, and credit card debit at an all time high.
@dccoaching2867Ай бұрын
It’s not a good feeling working everyday and still can not buy a home
@privatecitizen4001
Ай бұрын
You wouldn't own it anyway. Your renting from the government.
@derylrobinson
Ай бұрын
I agree it sucks. The only option is to save and take advantage of decent interest rates until the market corrects. It won’t be forever.
@MustbeTheBassest
Ай бұрын
@@derylrobinsonyeah, it will definitely not last forever. Just long enough for you to miss your fertility or must productive life window. Don't worry though, once you are 55yrs old you can finally get a starter home and start a family. 😂
@aaronvoss748
Ай бұрын
@@MustbeTheBassestNo kidding!! I'm 42 and didn't think about buying a home till I was 30 when I started a family. Boy did I screw up! I found several places between 2012 and 2019. Man land and houses were fairly cheap! Part of it was my wife being afraid of being commited to a house!!😂😂 Duhhh!! We really screwed up!!
@ll2323
Ай бұрын
@@MustbeTheBassestu just defined 70% of millennials.
@user-yq7xf2ss6eАй бұрын
One of the major things I take in count us the price of groceries going up every time I go to the grocery store
@dee3953Ай бұрын
15$ a hr. Is not a job. Lol. This man is lose!!! Why is he on the show
@Hethalean
Ай бұрын
Because most people dont know how to live within your means. 90% of america you can make 15 an hour work.. but not maybe in nyc la Chicago. Doesnt mean the hyperbolic statement "it is not a job!" Makes sense
@ll2323
Ай бұрын
@@Hethalean 90% ?! Absolutely not. Especially, in the south, people are still making minimum wage working multiple jobs.
@BrookePrice82
Ай бұрын
Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you
@Spizort
Ай бұрын
If you are an adult working for the legal minimum, you’ve really failed. But you can still gains skills and move forward
@myresponsesarelimited7895
Ай бұрын
The hell are you talking about- you think nobody is in that wage bracket- the richer you are the more judgey you are. But we can can argue the point...
@shelle.angeloАй бұрын
Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.
@spacecadet6
Ай бұрын
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
@kevinhuffman3815Ай бұрын
Households are in better financial shape than they've ever been in a long time? This kid is delusional
@jimg6970
Ай бұрын
The data backs up this claim.
@privatecitizen4001
Ай бұрын
My bank account data disagrees.
@MustbeTheBassest
Ай бұрын
Households of people who already own homes with a 2% mortgage. It's a story of haves and have nots.
@kristofderop1653
Ай бұрын
What was it 3 out of 4 americans does not have atleast 1000 dollar in their account for emergencies? Saw a few of those datepoints pass the last few months. DId not look so swell.
@dmonty4354
Ай бұрын
Then why is personal unsecured debt at record levels? Also, the levels of people not paying on their debt is rising. I couldn’t waste any more time watching this. Just too out of touch with fly-over Americans.
@SteveDutton-vАй бұрын
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
@mikey43221
Ай бұрын
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
@WillieNickell
Ай бұрын
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
@AllenNichol
Ай бұрын
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
@WillieNickell
Ай бұрын
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
@AllenNichol
Ай бұрын
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.
@avalerionbassАй бұрын
All hail our feudal lords who briefly allow us basic survival needs!
@XeL__
Ай бұрын
hehe
@highheatrichieАй бұрын
Problem with the jobs that are added are part time service jobs with low pay while high paying jobs in tech and energy do lay offs lol
@TheBid
Ай бұрын
Exactly!!!!
@highheatrichie
Ай бұрын
@@TheBid Problem with this macroeconomic numbers like CPI is they always have biased data sets. Wooo non farm payroll shows 800k jobs added!!! Then you look 500k jobs lost full time high paying jobs, 1.3 mill jobs added at mcdonalds and starbucks!
@isaacs.8788Ай бұрын
This guy is in fantasyland …
@350zLeMans
Ай бұрын
He's completely detached from the reality of living on low wage 20 to 30 an hour here in CA is no longer a good income
@pjbecker6722
Ай бұрын
There are not many people who have savings and people are living on credit. This guy is talking in generalities that are completely incorrect..
@007MegaRollАй бұрын
own nothing eat bugs and be happy idea again?
@privatecitizen4001
Ай бұрын
I'm halfway there already. Minus the bugs and happy parts.
@JC-sc9rxАй бұрын
if all these people died from covid(like they say is happening every day, STIIL) we should have surplus home supply. if there is a housing crisis and they really cared they wouldnt be inviting so many newcomers to the nation either, End of story
@KBG2010Ай бұрын
This dude is clearly not poor. We spent that covid money within the hour of getting it. None of us saved it. He is quite out of touch. Our economic standards did not rise sir, that was the billionaires. A new billionaire was created everyday during covid.
@lah-tee5412
14 күн бұрын
Most people I know Including myself spent the money on things like new tires, car maintenance they had been putting off because they didn’t have a lump sum to drop on it or basic things like groceries or some new clothes here and there. Those that were lucky enough to own their own homes used it for small repairs or upgrades. It was found money that most of us put to good use. I don’t know how someone can be so out of touch tbh?
@thelawgangАй бұрын
buy bitcion, or miss out and complain later. facts
@Kragum24
25 күн бұрын
Or loose everything because of Bitcoin.
@Truth-op3beАй бұрын
We purchased our house in 2019 in middletown NY at the time it was 2.25 % interest rate 🙏 … we won’t see that again ‼️
@brianmeeker5786Ай бұрын
We are facing hyperinflation that is the only thing that explains anything
@shawnarossoukh5306Ай бұрын
Who is this guy? I don't think he did his homework before the show!
@jamesdriscoll5099Ай бұрын
I'm in the tech industry. For techies, this is the worst the market has been in a long, long time. A lot of low paying jobs doesn't mean that the economy is good for most. Allot of people are struggling.
@Neighborhood735Ай бұрын
I hate this government
@PeaceIsYeshuaАй бұрын
Home prices are definitely insane in Texas. Homes used to be so affordable here. :/
@jon4823Ай бұрын
Wait until the mortgage rates go down and people can afford more house for their money... These are the new prices. Get used to it.
@nameetbhawani4969Ай бұрын
Bears predict a million bubble bursts, and when we see one in a century, they rejoice in confirmation bias , sigh.
@hogue3666Ай бұрын
@3:15 I'd love to see some numbers on the thought that the people who benefitted the most during covid were the poor. Please let us know how Sam Walton took his beating when his stores were the ONLY THING OPEN during this time. Trillions of dollars DIDN'T go to the people who were willing to work that year.
@Amandapanda11144Ай бұрын
I’d like to know where he’s getting his information and stats from because he’s saying some wild claims.. “poorest people benefited the most from the pandemic”, “unemployment rate is the lowest it’s ever been”, “the economy is good”. Say that to middle class America living paycheck to paycheck barely able to afford food getting paid scraps.
@katieandnick4113
Ай бұрын
They are, by definition, not middle class then.
@TheMagacheАй бұрын
In Canada, you have to renew your rate every 5 years or less generally. That's usually the max time period you can lock in your rate at. Your amortization will be 25-30 years but new rate every 5. Our current rates are 5%+ but 3 years ago they were as low as 1%. Our average incomes are much lower than our US neighbours and our housing prices are even higher. Doesn't make any sense.
@DMAN590Ай бұрын
I'm making more money than ever, but it sure as hell doesn't feel that way. For the things that actually matter to me like being able to get my family a house, I'm further away from that than when I was making half as much 7 years ago
@JohnDanielsАй бұрын
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
@RetrieverTrainingAloneАй бұрын
Consider these 2 factors: 1)Mortgage rates will decline in 2024 when the Fed finally starts reducing rates. More buyers will be able to afford a mortgage at 5% compared to 8% for example. 2)The supply of houses is low ...almost half of pre-pandemic levels. The price of houses did not decrease substantially even when mortgage rates increased. Demand exceeds Supply = high prices until supply increases substantially.
@AcidicMentalityАй бұрын
Bought in 2020. My house has nearly doubled in value. My mortgage is locked in at 3%. Best financial move of my life.
@dccoaching2867
Ай бұрын
Too bad it’s fake value and will eventually adjust to its true value
@jayybird0096
Ай бұрын
We sold in 2020. Worst mistake of our adult lives. Can’t afford to buy a home now.
@faithsrvtrip8768
Ай бұрын
I sold my house in 2020 with a 2.75% mortgage and it was the worst financial move of my life.
@privatecitizen4001
Ай бұрын
Your happy about your taxes doubling? That's odd
@BPoweredLove
Ай бұрын
So you got lucky with the exact and ONLY scenario that really works. This will continue to be great news for you as long as you don't need to sell the house for a decade or more, because that "nearly doubled in value" is likely not even true today as you typed that. Zestimates are very clearly wrong. If you tried to actually get that "nearly double" by selling, you wouldn't. But your 3% rate is great, so hang on for dear life.
@neoncorolla6917Ай бұрын
I remember watching a video around 3yrs ago that go on to tell you that you will be influenced to not buy a home, and renting is the new fad. They do this so you will never own a home, and black rock will own everything and increase rents increase at will.
@perspectiveiseverything1694
Ай бұрын
Don't have to be convinced. The system has been rigged all along and it's now extremely difficult to buy a house in the market they created.
@edmondopowellАй бұрын
A mortgage is debt not buying a home!! Stop paying it and see what happens! Mortgage holders are not home owners they are leasing them off banks while paying the mortgage
@DWEthiopiaАй бұрын
"If you want a job, jobs are out there". Yeah sure, if you want to work for McDonalds or drive for Uber.
@ArunKumar-bp5loАй бұрын
buy in a remote site , away from city , calm life, less money.
@XeL__
Ай бұрын
then you work where
@AidenMarcelle887Ай бұрын
This guy also doesn’t understand that this can not only continue but will likely get worse. All because private equity firms are buying all the houses and can afford to keep this going until they’ve turned this country into all renters.
@PatamaGomutbutra26 күн бұрын
There is nothing be like that forever esp the mania in any asset. At one pount if the housing is unaffordable - the cost in paper could not turn to a real food - that is a crashing point. With out correction, it will be crash instead.
@MrTherussellfamАй бұрын
40 year mortgage will be in play in the next 2 years
@missylearned9821
Ай бұрын
Doubt it. Maybe, but for a scant few. Too much mobility today to lose 3-6% to a realtor every time you have to move/sell in a 40 year period. Maybe 50 years ago when people stayed in the same home for decades or even until they passed away.
@radiologicphysicist1083
Ай бұрын
Bingo
@Marva123Ай бұрын
4th option: everything stays the same and the volume continues to go down in home sales.
@350zLeMansАй бұрын
Apartments in my area central california are 1800 1 bd, my pay from my main job after taxes is 2500 a month thats full time 26 an hour, i have to work multiple jobs to be able to save
@RStone2326 күн бұрын
I bought a fully bricked nice new home on a quarter acre lot for $179k here in the state of Arkansas. I'm glad I bought it.
@user-ji6qj1db3uАй бұрын
You should buy now because the sellers and the crooks called brokers know they don't have leverage. Their back black door deals are done. houses have gone down because these crooks listed these houses OVERPRICED!! Realtors crooks.
@realjoedeeАй бұрын
What needs to happen that our out of touch boomer politicians don't have the will to do is eminent domain all foreign and corporate owned single family homes and put them back onto the market at 2020 valuations. Do that and the market would correct overnight. Now that's the short term solution. The long term solution is revoking all regulation and zoning that is impeding building more homes.
@ctm8633
Ай бұрын
You hit the nail on the head. Corporations should not be allowed to buy houses. They bought up everything they could after 2008 crash and now normal people can't buy but nothing will ever be done about it. Nobody even talks about it.
@iishirkerii9540Ай бұрын
How to save up to buy a home. Eat only corn. Shit out the corn. Rinse it off and repeat. Infinite money saving glitch
@thetroothhurtzАй бұрын
Call this guy Blanket Statement McGee. HE'S CLUELESS!!!
@kelliefreedman4788Ай бұрын
Thanks Tom keep the cutting edge info coming. I’ve sold my home bought a 80 k fifth wheel a 1 ton pick up. Traveling crazy and invested big bucks. Keep me posted gotta jump out of housing market. No debt is always in fashion and should be a priority! That’s freedom my friend.
@snizzypoosexcellentspooner2468Ай бұрын
If they counted unemployment like they did in the 70s it would be 25%.
@claycarpenter8625Ай бұрын
You guys don't realize that when they say households are making more than they ever have is true but they only count the gross worth coming in and not how far it stretches.
@OriginalroyalguardАй бұрын
I do tend to believe that the unemployment rate has exceeded 4 percent and that the data is highly manipulated. However, I work in Vegas in a major showroom and I also worked in the showroom in 2008 and I can tell you that Vegas is still humming strong and therefore the levee has not fully broken ... YET. The response in 2008 was a brutal 60 to 70 percent cut in ticket sales and today we are running up the mountain at full speed, so I dont know what to think. I understand that local pockets of unemployment are rapidly ticking up making it brutal to get a job in certain areas but I can't see a contagion that exists in the overall unemployment as of today, although I expect it. That being said, I believe the probability that the system will break due to an exogenous event is VERY real and more likely than not. I also believe that corporate and personal debt will be absolutely damming when this occurs. As Tom says "Only the paranoid will survive".
@sjtfunclub
23 күн бұрын
You make a lot of sense. Could you give me a tip when you sense a change coming?
@mytruthbekind579311 күн бұрын
If people and corporations would stop buying homes at inflated prices then wouldn’t that be a good start? I refuse. Taxes, insurance and maintenance costs increase. Why? $1m for a starter home in need of work? You can’t find homes below $500k. Insane.
@jack12343Ай бұрын
What I can't understand is why Tom Bilyeu (who is almost 50) thought wearing a backwards baseball cap was a good look. When will men start acting and dressing their age?
@Starfish2145Ай бұрын
Who the hell is this guy? Households are not in better financial shape except the wealthy!!
@trevorm9551Ай бұрын
Home prices won’t come down because they are the hard assets the market is using to offset rampant government spending, debt and monitary debasement
@aaronvoss748Ай бұрын
I don't care WTF this guy thinks! This is more screwed up than anything I've seen and I'm not one of those people that forgets. There is something really fishy about a ballooned stock market, untouchable housing prices, crushing prices at the grocery store, high utility prices, high gas prices that are artificially lowered(by draining strategic reserves), watching and seeing people "in person" not being employed, goverment debt at 35 trillion. This is way worse than '08. It could be said that the problems in '08 never stopped. Trump certainly stopped them while he was in office, but since 2020 this stuff is in overdrive. This guy either believes the lie or is capitalizing on the lie and wants it to keep going.
@lisaharper1827
Ай бұрын
Trump didn’t fix anything. That is the big lie, my friend.
@danieldillon643624 күн бұрын
Not true, I bought a house in 1992 and the interest rates were 9.5 % and the house was very over priced.
@ryansaunders2847Ай бұрын
What excess savings? People still have the 600 dollars they got when they couldn’t work????
@a104917Ай бұрын
"one of these 3 things HAS to happen: incomes need to go up, mortgages rates down, or housing prices down" NO BUDDY THE MARKET CAN STAY IRRATIONAL MUCH LONGER THAN YOU CAN TOLERATE IT. IT IS UNDER NO OBLIGATION TO MAKE SENSE TO YOU.
@kevinwilson6270Ай бұрын
Keep printing money and funding wars. You get houses prices rise. Obviusly theres alot more behind it but you get the point.
@whiteshark5036Ай бұрын
Wonderful guest from another planet! Best economy ever for E.T😂
@lati_daАй бұрын
8% raise??? That’s never happened
@ll2323Ай бұрын
This guy is so out of touch from the commonwealth. We are ALL BROKE!!! And we’re pissed off!
@FreedomTalkMedia13 күн бұрын
Nobody has cash because interest rates are less than inflation. To hold cash is to lose it. You have to buy things with it before the price goes up. At best, you buy things like rental properties that generate cash at an ever inflating rate, every year. Then you can get new and increasing cash that you can also quickly dispose of. End inflation and let interest rates be natural and people will hold cash. All we have to do for both of those is for the Fed to hold is balance sheet constant. In such a situation, prices would slowly fall as productivity improves.
@nkkren87Ай бұрын
There’s no way of knowing if it’s bad now or bad in the future or good now and good in the future the cost of loans are definitely high, but people have been calling for a crash for years now impossible to predict. You also don’t wanna be a renter forever I had friends who kept waiting for price to come down in 2016 that didn’t work out. I do think there will be a correction at some point here but I don’t know when.
@blondspike74Ай бұрын
Same issues here in Australia…except mortgage rates are variable and can only be fixed for up to five years.
@JohnDanielsАй бұрын
There is a long lag from the rate hikes, 6 to 18 months, is been about 6 months since they held the Feds Fund rate to 5.5.
@katlyn278128 күн бұрын
Prices of homes need to come down. It’s sad my husband and I makes $112k and can’t afford a house. I don’t want to be house poor. Also u have to account for property taxes and home insurance with the mortgage. I would like to afford a house with one income so we can live comfortably.
@danielgagne485Ай бұрын
Unemployment rate is a lie
@livingintheforest3963Ай бұрын
Home prices where I used to live are insane which was San Diego my realtor keeps trying to say oh yeah this is normal it’s not. And there’s a bidding war every time people want to buy a house so they started about 800,000 or 900,000 and try to work everything up into 1.1 million you have to be smart enough not to fall for that. Let these people sit with their stupid houses and don’t buy them!!!👎🏻👎🏻
@seaofcolour7431Ай бұрын
the rise of DINKS was a huge cultural change in western countries and fueled the rise in real-estate prices. When two people in a household are earning income and they have no children who depend on them to support them, they can get a bigger bank loan in direct competition with young families trying to buy their first house. By the late 1980s and through the 1990s, the consideration of dual incomes for loans became more widespread and standardized within the banking system. legislative reforms and a growing recognition of women’s role in the workforce and their financial contributions to households, contributed to the shift in banking practices for better or worse.
@NeilBaylardАй бұрын
This guy must come from the administration that’s in power right now he’s so positive😅😅😅😅 if I lived in Alaska, I’d buy ice off of him
@arkology_cityАй бұрын
This dude just said "Starter homes are $1M+ with 8% interest rates" followed by "the economy is just vibes, bro. People don't spend if they aren't in the mood"
@JesusIsKingAndTheSonOfGodАй бұрын
Regardless of this man's beliefs on unemployment, home prices should be adjusting to the rate of sales. The reason they are not, is because they are bought by billion dollar companies. That can afford to sit on assets and manipulate the market.
@zarduleАй бұрын
it‘s the wealth inequality my friend. thats why asset prices go up.
@mikefredd339018 күн бұрын
A job is not a job is not a job. I’m not sure single metric captures this but the income distribution is what we should be talking about.
@Kyle-stylnАй бұрын
I think a combination of all 3 should take place
@professionalaestheticsАй бұрын
This guy is just very excited about what he’s talking about, but there are so many holes and things that are not true. For example, a ton of people saw 2007 coming it’s not like it’s smacked us in the back of the head and nobody knew
@MH-et5sn
Ай бұрын
Right. He said many things that were just nonsense.
@southsideschooloffinancial4059Ай бұрын
Why do people keep believing the unemployment rate? It has no meaning because it is inaccurate and the jobs that are available do not pay enough for a person to live above the poverty line.
Пікірлер: 831
I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?
@EleanorBaker474
19 күн бұрын
You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.
@StacieBMui
19 күн бұрын
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@StocksWolf752
19 күн бұрын
Could you kindly elaborate on the advisor's background and qualifications?
@StacieBMui
19 күн бұрын
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
@crystalcassandra5597
11 күн бұрын
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.
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
@SmithJones-yx1ut
Ай бұрын
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
@Williamsmthe
Ай бұрын
How did you achieve it? I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up.
@SmithJones-yx1ut
Ай бұрын
She's "Tenley Megan Amerson ". Also maintains an online presence. Just make a simple search for her name online.
@DavidLuiz-nd3dn
Ай бұрын
Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.
@user-zg1vm8ub7r
12 күн бұрын
Check out all of the multi million dollar homes in Cali, and 90% of them are empty. The rich buy up all of the good land, and they don't even live there! They just want to own everything!
So sick of people talking about the low unemployment rate, without mentioning the quality of those jobs. The gig economy, the stagnation wages in relation to productivity, it’s so dishonest
@BPoweredLove
Ай бұрын
Not to mention that the number isn't even accurate to start with. Unemployment is not remotely close to "less than 4 percent".
@DeeJayDyer
Ай бұрын
They take people off the count, after one year!! They legit changed the definition
@andreamathieu8996
Ай бұрын
Exactly! So disingenuous.
@vtec224
Ай бұрын
doesn’t unemployment rate only count people receiving unemployment pay and doesn’t account for people who straight up don’t work?
@DeeJayDyer
Ай бұрын
@@vtec224 might be wrong.. but there’s people filing for unemployment assistance that can be compensated a percentage of that pay if laid off due to no fault of their own. And then there’s just the unemployment rate, that is total percentage of working age population that is actively looking for work. I believe after one year of being unemployed, you’re no longer considered part of that pool
This dude actually believes poor Americans still have that 1200 dollars from covid. Yikes Tom.
@hogue3666
Ай бұрын
That's where he lost me. 2020 was the largest transfer of wealth to the S&P 500 in human history. It'll just trickle down to the leiman though. :)
@alanjosephproductions
Ай бұрын
this content is likely old ... I watched some of Tom's stuff that is eight months old but, just published .. I know because they sometimes mention the current date. ☹
@janelbrookshire7011
Ай бұрын
@@alanjosephproductions That would make more sense… Most everyone I know wasn’t in a position to save it!
@legomaster7770
Ай бұрын
Between state and federal unemployment and the small covid direct payments, I received at least $70,000.
@XeL__
Ай бұрын
rich people dellusion
Cant listen to a guy saying that right now people are better of financially than ever... I know more people struggling now that ever. Good lord anyone these days can write a book.....
@BPoweredLove
Ай бұрын
So I guess you're not picking up a copy? 😂😂
@XeL__
Ай бұрын
350 pages, but no one want to buy mine so i rant about it online for free. when im dead starving peopel can enjoy my free book lol
@NickBeKnowin
Ай бұрын
they are better off financially, people just buy stuff the dont need and dont know how to shop properly based on their situation
@anthonylozano8035
Ай бұрын
stop watching after hearing that
@BPoweredLove
Ай бұрын
@@NickBeKnowin I'm debating whether or not to pry your thoughts further. You're right about people spending incorrectly, but the "they are better off"... No.
If you close your eyes you can hear Chris from Family Guy
@algorsmith8381
Ай бұрын
🤣🤣🤣
@lati_da
Ай бұрын
😂
@LeonbanksJr
Ай бұрын
😂😂😂
@KEAHON
Ай бұрын
I thought it was RFK Jr.
@XAUCADTrader
Ай бұрын
I can't unhear this now!
I laugh at these people who think 6k in stimulus checks caused every one in the U.S to stop working for 3 years. Crazyyyyy
@alexsulewski2497
Ай бұрын
It's not just stimulus checks its also PP loans and like 3 years of student loan forbearance.
@jakestarr4718
22 күн бұрын
i agree Kevinellis, go look at snap benefits listed. 82% of the population currently qualifies for snap/ebt. Information is being cleverly displayed where it hides what is happening. I am scared to buy houses honestly, not because i don't think i can afford it specifically. I just don't believe i'll be able to retain a job long enough to pay for it.
@g00bers24
21 күн бұрын
My check was gone in 2 billing cycles lmfao. Wtf is he smoking?
@jakestarr4718
20 күн бұрын
@@g00bers24 he's smoking other peoples money obviously and hasn't had to spend his
It is utterly amazing how convincing a super confident person can sound even when their ideas are trash.
@XeL__
Ай бұрын
when i hear carnist bashing veganism and whole food plant based diet "ah yes the 9 essential amino acid 2 essential fat and 0 essential sugar found in plants. vitamine nad mineral" "ah yes b1 b2 b3 b4 b5 b6 b7 b9 b10 b12.. what about b8 b11 ? and what do each of them do? source? absorbsion? mechanism?" broteinz tho gnut gnut meat tho gnut gnut yea i see that patern alot
@Ex_877
Ай бұрын
Agree, this guy's brain is trash.
@davedefea5530
Ай бұрын
Literally everything he says is backwards, in the real world. LOL
@RickyCarilli
Ай бұрын
100%. This is horrible.
@RickyCarilli
Ай бұрын
Tell me you’re a Biden supporter without telling me you’re a Biden supporter…
Rich boys are oblivious to real world people.
I feel like this guy is normalizing the shit our government does to cause these issues…
This man believes the statistic on unemployment, so it’s hard to take him seriously. It isn’t 4 percent, it’s closer to 15 or 20.
@jimg6970
Ай бұрын
Not even close. If you want a job there’s plenty of jobs out there.
@Dr.Sortospino
Ай бұрын
What?? Try to apply for a job that is not with minimum pay and tips and let me know how long it will take for you to get one.
@edmetcalf3283
Ай бұрын
Should have read the comments 1st... you nailed it
@osurulez35
Ай бұрын
Totally agree. People are working 2 or 3 jobs to earn what previously could be accomplished with a single job. Kinda basic if you have a lot of very low paying jobs available that isn’t great for the economy if most people are burdened with debt and living paycheck to paycheck. Can’t think of this guy as an expert.
@brianfantana6522
Ай бұрын
Its more like 55% they dont count college, seniors, stay at homes, disabled & anyone who hasnt claimed unemployment or reached the annual limit
This dude seems like he read a lot of things on the internet.
@taurus1305965
Ай бұрын
Yeah, all the wrong ones. 4% unemployment is laughable. In reality it's about 23%.
@Misaka-gt5yj
Ай бұрын
@@taurus1305965 This content creator doesn't understand nuance in statistics. Unemployment % is only due to the reportable values and doesn't include per diem labor.
@Wo1fLarsen
Ай бұрын
Agreed
@Wo1fLarsen
Ай бұрын
He's in a bubble, reading statistics.
@Tomana_
Ай бұрын
hasn't everyone? LoL
I've never heard one person go from being correct to wildly incorrect to back to correct so often in such a short amount of time. 1) housing market bubble shall burst 👍 2) unemployment is below 4% (untrue) 👎 3) very high housing market with high interest rates and high unemployment, "everything falls apart" 👍 4) lockdown stimulus "benefitted the poorest people the most" 👎 I'm too exhausted to continue. That's all just in the first 3 minutes...
@jasonnowicki5066
Ай бұрын
a normal person needs to sit this man down and explain to him how wrong he is on those two points
@smb2735
Ай бұрын
Almost everything this guy said is a sophism. Incredible.
I am 23, active duty military and I spend like $1800 a month for a one bedroom apartment
@zombieapocalypse3837
Ай бұрын
I hope you're getting a decent housing stipend, when I first arrived at Travis AFB in 1998 the housing stipend had not been adjusted to the local housing market, it was eventually and that helped a lot. But I just ended up renting a room from homeowners that were also trying to make ends meet. Choose wisely when resorting to renting a room though, retiree homeowners seem to be the most stable that are looking for reasonable rental income for their rooms.
@Keepithonest7
Ай бұрын
Short term rental properties have caused some of that
@jimb3093
Ай бұрын
Hope you getting BAH.
@joshgraziosi8159
Ай бұрын
You need to live in the barracks, my man!
@RegretfulVet
Ай бұрын
Re-up for Hawaii duty station then ERD your spouse = BAH for Hawaii & Home of Record. I had to send my wife back to Boston from Oahu & i banked my dick off
yep if I don’t eat. don’t buy gas, turn off electricity, self insure , inflation false information is correct. unemployment and real inflation are much higher!!
@ll2323
Ай бұрын
Maybe don’t drink water while ur at it. 😂
@XeL__
Ай бұрын
spot on. i either eat or pay rent. so i have to work to pay rent and give free time in shelter for food. 80 hour a week legal voluntarily slavery (if im not volontere im allowed to starve to death )
@beatdown3361
Ай бұрын
100 percent. Rice and beans. Beans and rice. Hide from the world or any activities. Shower once a week. Toughen up people!!!!
I want to know who’s getting an 8% raise and in which industries?
@Dr.Sortospino
Ай бұрын
Semiconductor.
@faithsrvtrip8768
Ай бұрын
Government
@alexjones7845
Ай бұрын
Some of the higher skilled or specialty jobs. For instance, engineering types working for large corporations that are seeing large increases in company revenues year over year (partly due to increase in government spending contract) are having to increase compensation to their above average value employees. But, this really only applies to employees that can clearly show to their boss that they create value for the company's bottom line well beyond what they cost. Pretty common for those employees to see annual 8 to 10% salary increases each year over the last three years.
@BPoweredLove
Ай бұрын
In his head. He made it up. Or he is mimicking someone else who made it up.
@HarrisonCountyStudio
Ай бұрын
In general…. A super majority of W-2 income earners are Not getting an 8% raise.
For him to say that the poorest benefited most from lockdown is misguided. 80% of Americans live pay-check to pay-check they still had their bills to pay and with the cost of living has eaten up the small amount they were able to save. The wealthy benefited most they weren’t able to purchase their luxury cars, boats, holidays etc so they built up a huge amount of wealth.
@specialk2514
Ай бұрын
Truth!
@privatecitizen4001
Ай бұрын
I was cutting grass all day fir these rich ppl getting payed to not work. Lucky me
@deathtodiablo7402
Ай бұрын
@@privatecitizen4001I was cleaning there pools
@The1JBanks
Ай бұрын
@@privatecitizen4001doing HVAC new construction the whole time during Covid. We were considered essential I say expendable while everyone else set on their ass and collected a check.
@derylrobinson
Ай бұрын
The cash that was handed out to the poor quickly trickled up into the accounts of the rich. The rich used it to buy houses.
My hubby and I qualified for about 350k for a home in 2019 right before Covid hit. So we started looking into 2020 and we could only find very high priced condos and broken down homes. My hubby is a vet and the loan company would not approve a loan for any of those properties- so we were in limbo. So we decided to rent again and we are now in a high rent place 2500 per month and the same houses and condos are now 450-500k. I feel like I’m trying to hit a moving target. Each time I take aim and have my ducks in a row the target moves again.
@nomandatoryvaxing7433
24 күн бұрын
Move to a rural area. I sold my home on Long Island, NY for a $160k profit and took that money and moved to southeast Tennessee and bough my home cash for $215k. I also went from 3bed1bath to 4bed3bath. Went from 800ft2 to 1700ft2. Went from 0.15 acres to 3.5 acres. From $8500 property tax to $749 property tax. From high state income tax to 0% state income tax. From $140 car insurance to $47 car insurance. Plus I make the same exact money here. I went from living paycheck to paycheck and both me and my wife working to my wife being able to stay home and raise our children properly and enjoy her time to only me working and I don’t have to work a ton of overtime anymore and I’m now able to save $2,000 every month and that’s after investing in retirement too. You just have to bite the bullet and leave expensive places to live. Our ancestors would always follow the buffalo or move to where they could find land and water and we need to do the same. We can’t force ourselves to stay in situations that are not sustainable and that high rent is absurd. You can find really great places to live if you look. North Georgia is a really affordable place to live and very nice. Same with South Carolina. A lot of places actually. Good luck.
This guy is delusional
@BrookePrice82
Ай бұрын
Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you
@StateAlchemist7
Ай бұрын
I think what he's getting at is that before covid people made the legal minimum wage, and now their income has doubled to around $15, so yes, they benefited the most as far as percentage. What he fails to consider or neglects to mention is that it cost $18+/hr to live off one job.
@agates9383
Ай бұрын
He fails to differentiate jobs from good high paying jobs - but he's spot on regarding the housing mkt, Im a builder in AZ and its f*cked
@1ireneaustin
Ай бұрын
BOTH OF THEM! are delusional
@MDMC313
Ай бұрын
Less than 8% of the trillions of stimulus went directly to the American people. Its been years now, when will these people stop acting like the poor got millions of dollars each and they are just sitting on this magical bags of stimulus money that's never ending.
The economy is good? Groceries, fuel, etc etc etc ~ This guy is delusional?
@Dr.Sortospino
Ай бұрын
But that’s the problem. The economic is Good for any metric you take. The problem is that the data are correct, but the map is not the land. Unemployment is low? No shit you need to jobs to survive.
@haleybloss9685
Ай бұрын
Yep! Delusional for sure!!
@MustbeTheBassest
Ай бұрын
@@Dr.Sortospinothis. The economy is doing amazing for 5-15% of the population. They've never had it better. Making record profits. Except for everyone else, who have lost half their spending power. I make 2-3x as much my parents did when they were my age and can't afford 1/3rd of what they could. The economy works great for the people who decide what to measure.
@utawmuddy5940
Ай бұрын
excelent observation, I feel like people pick a side ignore reality and quote stats that are clearly incorrect or do not properly depict the situation. I almost rolle my eyes when the stats come out weather correct or not just bc I feel like the gov and medical plus other industries have consistently destroyed the trust by consistently lying and trying to redefine words and new terms that aim to confuse and disarm. I was mind Fu@ked after a basic college stats class, "so what your telling me if you dont know enough and apply the wrong statistical method it will be wrong or if your smart and use the right statistical to achieve the interest of entity paying to do the study to "achieve their implied wants" then its considered right (it would have actually been better to use other method and it was their discretion so if went to court would be too ambiguous to go after) even though its wrong. @@Dr.Sortospino
@Dr.Sortospino
Ай бұрын
@@MustbeTheBassest I am in the 1% and the economy is doing good for the 0.05% . Everything will be shit until you allow people like Cardone and company brag about how they don’t pay taxes
Guy clearly doesn't understand economics. There's massive supply restriction because of regulations and limited skilled workers. Until that changes prices will not go down
@peej91
Ай бұрын
supply is actually eaten up by investors. sooner or later they will be regulated more and more
@marcwilliams4246
Ай бұрын
1. Investors aren't looking to lose money. 2. Regulation would take political consensus and a willingness to shirk the donor class so I'll take later, much later. 3. Even if you got rid of the investors it's still a shear numbers game in which the demand for homes outstrips the supply by millions of units. Prices are going up because of inflation and the fact that people are competing for what's available and that's not changing without some massive market shifting event. 4. When the Fed eventually starts cutting interest rates housing prices will go up even more.
@peej91
Ай бұрын
@@marcwilliams4246 housing market can’t keep going up to infinity… it’s part of the reason why inflation is where it is. If the demand does not tame which the feds want I would not be surprised if they raise interest rates even more. More money being lent will make a bag of apples cost 100 dollars and that would be bad for everyone. When the fed cuts it will be when job losses occur or when the damage has been done. Which is why everyone is waiting. Signs already are showing
@John-wf5if
Ай бұрын
Record mass migration also helps price keep booming. It's effectively a population Ponzi scheme.
@misterogers9423
Ай бұрын
I agree. Look up Q4 2024 PE firms and banks holding residential real estate. 8 of the 10 largest portfolio are down, some massively. If it is isn't profitable, they will be much hesitant before they buy. A bigger crash will kick out the corpo holdings even more. That being said, I think there two many variables to predict things and individual market will vary wildly. The biggest thing I agree with the video is the unpredictability of the future. Too much emotion, and mood does seem down.@@marcwilliams4246
Former macro manager here. Consider yourself lucky if you’re currently renting. The next few years will be epic.
@Originalroyalguard
Ай бұрын
Absolutely. Excessive mortgage debt may prove to be a very bad place to be and today's renters may become tomorrow's buyers.
@wcsartanddesign
Ай бұрын
Saw the writing in 2016... had the chance to own, meh deal admittedly, chose to rent. It simply makes zero sense, atc. If I wanted to sheep myself off a cliff, I'm confident I can invent other less fantastical scenarios haha.
@paulroy2645
Ай бұрын
What do you mean lol
@eddiemalvin
Ай бұрын
@@wcsartanddesign You didn't buy in 2016 and that was a GOOD move? I guess it all depends on location. Where we live, home prices could drop 50% and they'd still be significantly higher than 2016 prices.
Recessions are an innate part of fiat systems, not hard money systems. They are tools of wealth transfer as the asset-holding class understands how to ride the wave, but retail doesn't.
eric weinstein told tom years ago, that young people have given up because they have no chance with these housing prices, educational cost, healthcare cost, and an onslaught of immigration.
@laj9832
Ай бұрын
It’s a lie from the media and left. They want to stop kids being born.
@joshgraziosi8159
Ай бұрын
That was the plan. It is working.
I heard 8% raise every year on this video and another video mentioned 5% yearly raises. My question is what industry is this? we get 2-3.5 way below these perceived normal raises mentioned in these videos
@faithsrvtrip8768
Ай бұрын
Government jobs with public employee unions.
@privatecitizen4001
Ай бұрын
Congress and senate gave themselves a raise. Illegal aliens get free school and medical care and food stamps. Stop complaining and work five minimum wage jobs
@BPoweredLove
Ай бұрын
Oh, you haven't heard? In Fantasyland, annual raises are around 8%. In Utopiaville, the capital of Fantasyland, raises are even higher, closer to 15% annually.
@joshgraziosi8159
Ай бұрын
Agree. My company does 3% yearly. Doesn’t even keep up with inflation.
@firstlast2386
Ай бұрын
@@BPoweredLove😂😂
I believe he is wrong, or has believed the Lie on.the unemployment... it's much higher. Many, including my adult children have stopped looking, as they cannot find a Job where they can afford to go to work & live...
@chrischris9157
Ай бұрын
So what do your loser kids do all day?
@Squiddster
Ай бұрын
The problem is most don’t understand the unemployment number. It only counts those people receiving unemployment benefits. People laid off receiving severance pay and not collecting unemployment benefits yet are not counted. Those who benefits have ended are not counted. And those who have stopped looking are not counted.
@richarddebono7092
Ай бұрын
He's oblivious to the fact that so many people lost decent paying careers & are now forced to work 2 & 3 shitty jobs. So, even though there are more jobs there is more work for less prosperity. He talks about recessions without mentioning a word on the boom/bust cycles that are created by inflating fiat currency. Totally clueless.
@Roninbuilt
Ай бұрын
Agreed. His believing “official”unemployment number ruins his credibility.
@edwardmiddleton3541
Ай бұрын
He is wrong on many metrics, including savings which are at an all time low, and credit card debit at an all time high.
It’s not a good feeling working everyday and still can not buy a home
@privatecitizen4001
Ай бұрын
You wouldn't own it anyway. Your renting from the government.
@derylrobinson
Ай бұрын
I agree it sucks. The only option is to save and take advantage of decent interest rates until the market corrects. It won’t be forever.
@MustbeTheBassest
Ай бұрын
@@derylrobinsonyeah, it will definitely not last forever. Just long enough for you to miss your fertility or must productive life window. Don't worry though, once you are 55yrs old you can finally get a starter home and start a family. 😂
@aaronvoss748
Ай бұрын
@@MustbeTheBassestNo kidding!! I'm 42 and didn't think about buying a home till I was 30 when I started a family. Boy did I screw up! I found several places between 2012 and 2019. Man land and houses were fairly cheap! Part of it was my wife being afraid of being commited to a house!!😂😂 Duhhh!! We really screwed up!!
@ll2323
Ай бұрын
@@MustbeTheBassestu just defined 70% of millennials.
One of the major things I take in count us the price of groceries going up every time I go to the grocery store
15$ a hr. Is not a job. Lol. This man is lose!!! Why is he on the show
@Hethalean
Ай бұрын
Because most people dont know how to live within your means. 90% of america you can make 15 an hour work.. but not maybe in nyc la Chicago. Doesnt mean the hyperbolic statement "it is not a job!" Makes sense
@ll2323
Ай бұрын
@@Hethalean 90% ?! Absolutely not. Especially, in the south, people are still making minimum wage working multiple jobs.
@BrookePrice82
Ай бұрын
Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you
@Spizort
Ай бұрын
If you are an adult working for the legal minimum, you’ve really failed. But you can still gains skills and move forward
@myresponsesarelimited7895
Ай бұрын
The hell are you talking about- you think nobody is in that wage bracket- the richer you are the more judgey you are. But we can can argue the point...
Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.
@spacecadet6
Ай бұрын
To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!
Households are in better financial shape than they've ever been in a long time? This kid is delusional
@jimg6970
Ай бұрын
The data backs up this claim.
@privatecitizen4001
Ай бұрын
My bank account data disagrees.
@MustbeTheBassest
Ай бұрын
Households of people who already own homes with a 2% mortgage. It's a story of haves and have nots.
@kristofderop1653
Ай бұрын
What was it 3 out of 4 americans does not have atleast 1000 dollar in their account for emergencies? Saw a few of those datepoints pass the last few months. DId not look so swell.
@dmonty4354
Ай бұрын
Then why is personal unsecured debt at record levels? Also, the levels of people not paying on their debt is rising. I couldn’t waste any more time watching this. Just too out of touch with fly-over Americans.
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
@mikey43221
Ай бұрын
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
@WillieNickell
Ай бұрын
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000
@AllenNichol
Ай бұрын
I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?
@WillieNickell
Ай бұрын
Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
@AllenNichol
Ай бұрын
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.
All hail our feudal lords who briefly allow us basic survival needs!
@XeL__
Ай бұрын
hehe
Problem with the jobs that are added are part time service jobs with low pay while high paying jobs in tech and energy do lay offs lol
@TheBid
Ай бұрын
Exactly!!!!
@highheatrichie
Ай бұрын
@@TheBid Problem with this macroeconomic numbers like CPI is they always have biased data sets. Wooo non farm payroll shows 800k jobs added!!! Then you look 500k jobs lost full time high paying jobs, 1.3 mill jobs added at mcdonalds and starbucks!
This guy is in fantasyland …
@350zLeMans
Ай бұрын
He's completely detached from the reality of living on low wage 20 to 30 an hour here in CA is no longer a good income
@pjbecker6722
Ай бұрын
There are not many people who have savings and people are living on credit. This guy is talking in generalities that are completely incorrect..
own nothing eat bugs and be happy idea again?
@privatecitizen4001
Ай бұрын
I'm halfway there already. Minus the bugs and happy parts.
if all these people died from covid(like they say is happening every day, STIIL) we should have surplus home supply. if there is a housing crisis and they really cared they wouldnt be inviting so many newcomers to the nation either, End of story
This dude is clearly not poor. We spent that covid money within the hour of getting it. None of us saved it. He is quite out of touch. Our economic standards did not rise sir, that was the billionaires. A new billionaire was created everyday during covid.
@lah-tee5412
14 күн бұрын
Most people I know Including myself spent the money on things like new tires, car maintenance they had been putting off because they didn’t have a lump sum to drop on it or basic things like groceries or some new clothes here and there. Those that were lucky enough to own their own homes used it for small repairs or upgrades. It was found money that most of us put to good use. I don’t know how someone can be so out of touch tbh?
buy bitcion, or miss out and complain later. facts
@Kragum24
25 күн бұрын
Or loose everything because of Bitcoin.
We purchased our house in 2019 in middletown NY at the time it was 2.25 % interest rate 🙏 … we won’t see that again ‼️
We are facing hyperinflation that is the only thing that explains anything
Who is this guy? I don't think he did his homework before the show!
I'm in the tech industry. For techies, this is the worst the market has been in a long, long time. A lot of low paying jobs doesn't mean that the economy is good for most. Allot of people are struggling.
I hate this government
Home prices are definitely insane in Texas. Homes used to be so affordable here. :/
Wait until the mortgage rates go down and people can afford more house for their money... These are the new prices. Get used to it.
Bears predict a million bubble bursts, and when we see one in a century, they rejoice in confirmation bias , sigh.
@3:15 I'd love to see some numbers on the thought that the people who benefitted the most during covid were the poor. Please let us know how Sam Walton took his beating when his stores were the ONLY THING OPEN during this time. Trillions of dollars DIDN'T go to the people who were willing to work that year.
I’d like to know where he’s getting his information and stats from because he’s saying some wild claims.. “poorest people benefited the most from the pandemic”, “unemployment rate is the lowest it’s ever been”, “the economy is good”. Say that to middle class America living paycheck to paycheck barely able to afford food getting paid scraps.
@katieandnick4113
Ай бұрын
They are, by definition, not middle class then.
In Canada, you have to renew your rate every 5 years or less generally. That's usually the max time period you can lock in your rate at. Your amortization will be 25-30 years but new rate every 5. Our current rates are 5%+ but 3 years ago they were as low as 1%. Our average incomes are much lower than our US neighbours and our housing prices are even higher. Doesn't make any sense.
I'm making more money than ever, but it sure as hell doesn't feel that way. For the things that actually matter to me like being able to get my family a house, I'm further away from that than when I was making half as much 7 years ago
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson
Consider these 2 factors: 1)Mortgage rates will decline in 2024 when the Fed finally starts reducing rates. More buyers will be able to afford a mortgage at 5% compared to 8% for example. 2)The supply of houses is low ...almost half of pre-pandemic levels. The price of houses did not decrease substantially even when mortgage rates increased. Demand exceeds Supply = high prices until supply increases substantially.
Bought in 2020. My house has nearly doubled in value. My mortgage is locked in at 3%. Best financial move of my life.
@dccoaching2867
Ай бұрын
Too bad it’s fake value and will eventually adjust to its true value
@jayybird0096
Ай бұрын
We sold in 2020. Worst mistake of our adult lives. Can’t afford to buy a home now.
@faithsrvtrip8768
Ай бұрын
I sold my house in 2020 with a 2.75% mortgage and it was the worst financial move of my life.
@privatecitizen4001
Ай бұрын
Your happy about your taxes doubling? That's odd
@BPoweredLove
Ай бұрын
So you got lucky with the exact and ONLY scenario that really works. This will continue to be great news for you as long as you don't need to sell the house for a decade or more, because that "nearly doubled in value" is likely not even true today as you typed that. Zestimates are very clearly wrong. If you tried to actually get that "nearly double" by selling, you wouldn't. But your 3% rate is great, so hang on for dear life.
I remember watching a video around 3yrs ago that go on to tell you that you will be influenced to not buy a home, and renting is the new fad. They do this so you will never own a home, and black rock will own everything and increase rents increase at will.
@perspectiveiseverything1694
Ай бұрын
Don't have to be convinced. The system has been rigged all along and it's now extremely difficult to buy a house in the market they created.
A mortgage is debt not buying a home!! Stop paying it and see what happens! Mortgage holders are not home owners they are leasing them off banks while paying the mortgage
"If you want a job, jobs are out there". Yeah sure, if you want to work for McDonalds or drive for Uber.
buy in a remote site , away from city , calm life, less money.
@XeL__
Ай бұрын
then you work where
This guy also doesn’t understand that this can not only continue but will likely get worse. All because private equity firms are buying all the houses and can afford to keep this going until they’ve turned this country into all renters.
There is nothing be like that forever esp the mania in any asset. At one pount if the housing is unaffordable - the cost in paper could not turn to a real food - that is a crashing point. With out correction, it will be crash instead.
40 year mortgage will be in play in the next 2 years
@missylearned9821
Ай бұрын
Doubt it. Maybe, but for a scant few. Too much mobility today to lose 3-6% to a realtor every time you have to move/sell in a 40 year period. Maybe 50 years ago when people stayed in the same home for decades or even until they passed away.
@radiologicphysicist1083
Ай бұрын
Bingo
4th option: everything stays the same and the volume continues to go down in home sales.
Apartments in my area central california are 1800 1 bd, my pay from my main job after taxes is 2500 a month thats full time 26 an hour, i have to work multiple jobs to be able to save
I bought a fully bricked nice new home on a quarter acre lot for $179k here in the state of Arkansas. I'm glad I bought it.
You should buy now because the sellers and the crooks called brokers know they don't have leverage. Their back black door deals are done. houses have gone down because these crooks listed these houses OVERPRICED!! Realtors crooks.
What needs to happen that our out of touch boomer politicians don't have the will to do is eminent domain all foreign and corporate owned single family homes and put them back onto the market at 2020 valuations. Do that and the market would correct overnight. Now that's the short term solution. The long term solution is revoking all regulation and zoning that is impeding building more homes.
@ctm8633
Ай бұрын
You hit the nail on the head. Corporations should not be allowed to buy houses. They bought up everything they could after 2008 crash and now normal people can't buy but nothing will ever be done about it. Nobody even talks about it.
How to save up to buy a home. Eat only corn. Shit out the corn. Rinse it off and repeat. Infinite money saving glitch
Call this guy Blanket Statement McGee. HE'S CLUELESS!!!
Thanks Tom keep the cutting edge info coming. I’ve sold my home bought a 80 k fifth wheel a 1 ton pick up. Traveling crazy and invested big bucks. Keep me posted gotta jump out of housing market. No debt is always in fashion and should be a priority! That’s freedom my friend.
If they counted unemployment like they did in the 70s it would be 25%.
You guys don't realize that when they say households are making more than they ever have is true but they only count the gross worth coming in and not how far it stretches.
I do tend to believe that the unemployment rate has exceeded 4 percent and that the data is highly manipulated. However, I work in Vegas in a major showroom and I also worked in the showroom in 2008 and I can tell you that Vegas is still humming strong and therefore the levee has not fully broken ... YET. The response in 2008 was a brutal 60 to 70 percent cut in ticket sales and today we are running up the mountain at full speed, so I dont know what to think. I understand that local pockets of unemployment are rapidly ticking up making it brutal to get a job in certain areas but I can't see a contagion that exists in the overall unemployment as of today, although I expect it. That being said, I believe the probability that the system will break due to an exogenous event is VERY real and more likely than not. I also believe that corporate and personal debt will be absolutely damming when this occurs. As Tom says "Only the paranoid will survive".
@sjtfunclub
23 күн бұрын
You make a lot of sense. Could you give me a tip when you sense a change coming?
If people and corporations would stop buying homes at inflated prices then wouldn’t that be a good start? I refuse. Taxes, insurance and maintenance costs increase. Why? $1m for a starter home in need of work? You can’t find homes below $500k. Insane.
What I can't understand is why Tom Bilyeu (who is almost 50) thought wearing a backwards baseball cap was a good look. When will men start acting and dressing their age?
Who the hell is this guy? Households are not in better financial shape except the wealthy!!
Home prices won’t come down because they are the hard assets the market is using to offset rampant government spending, debt and monitary debasement
I don't care WTF this guy thinks! This is more screwed up than anything I've seen and I'm not one of those people that forgets. There is something really fishy about a ballooned stock market, untouchable housing prices, crushing prices at the grocery store, high utility prices, high gas prices that are artificially lowered(by draining strategic reserves), watching and seeing people "in person" not being employed, goverment debt at 35 trillion. This is way worse than '08. It could be said that the problems in '08 never stopped. Trump certainly stopped them while he was in office, but since 2020 this stuff is in overdrive. This guy either believes the lie or is capitalizing on the lie and wants it to keep going.
@lisaharper1827
Ай бұрын
Trump didn’t fix anything. That is the big lie, my friend.
Not true, I bought a house in 1992 and the interest rates were 9.5 % and the house was very over priced.
What excess savings? People still have the 600 dollars they got when they couldn’t work????
"one of these 3 things HAS to happen: incomes need to go up, mortgages rates down, or housing prices down" NO BUDDY THE MARKET CAN STAY IRRATIONAL MUCH LONGER THAN YOU CAN TOLERATE IT. IT IS UNDER NO OBLIGATION TO MAKE SENSE TO YOU.
Keep printing money and funding wars. You get houses prices rise. Obviusly theres alot more behind it but you get the point.
Wonderful guest from another planet! Best economy ever for E.T😂
8% raise??? That’s never happened
This guy is so out of touch from the commonwealth. We are ALL BROKE!!! And we’re pissed off!
Nobody has cash because interest rates are less than inflation. To hold cash is to lose it. You have to buy things with it before the price goes up. At best, you buy things like rental properties that generate cash at an ever inflating rate, every year. Then you can get new and increasing cash that you can also quickly dispose of. End inflation and let interest rates be natural and people will hold cash. All we have to do for both of those is for the Fed to hold is balance sheet constant. In such a situation, prices would slowly fall as productivity improves.
There’s no way of knowing if it’s bad now or bad in the future or good now and good in the future the cost of loans are definitely high, but people have been calling for a crash for years now impossible to predict. You also don’t wanna be a renter forever I had friends who kept waiting for price to come down in 2016 that didn’t work out. I do think there will be a correction at some point here but I don’t know when.
Same issues here in Australia…except mortgage rates are variable and can only be fixed for up to five years.
There is a long lag from the rate hikes, 6 to 18 months, is been about 6 months since they held the Feds Fund rate to 5.5.
Prices of homes need to come down. It’s sad my husband and I makes $112k and can’t afford a house. I don’t want to be house poor. Also u have to account for property taxes and home insurance with the mortgage. I would like to afford a house with one income so we can live comfortably.
Unemployment rate is a lie
Home prices where I used to live are insane which was San Diego my realtor keeps trying to say oh yeah this is normal it’s not. And there’s a bidding war every time people want to buy a house so they started about 800,000 or 900,000 and try to work everything up into 1.1 million you have to be smart enough not to fall for that. Let these people sit with their stupid houses and don’t buy them!!!👎🏻👎🏻
the rise of DINKS was a huge cultural change in western countries and fueled the rise in real-estate prices. When two people in a household are earning income and they have no children who depend on them to support them, they can get a bigger bank loan in direct competition with young families trying to buy their first house. By the late 1980s and through the 1990s, the consideration of dual incomes for loans became more widespread and standardized within the banking system. legislative reforms and a growing recognition of women’s role in the workforce and their financial contributions to households, contributed to the shift in banking practices for better or worse.
This guy must come from the administration that’s in power right now he’s so positive😅😅😅😅 if I lived in Alaska, I’d buy ice off of him
This dude just said "Starter homes are $1M+ with 8% interest rates" followed by "the economy is just vibes, bro. People don't spend if they aren't in the mood"
Regardless of this man's beliefs on unemployment, home prices should be adjusting to the rate of sales. The reason they are not, is because they are bought by billion dollar companies. That can afford to sit on assets and manipulate the market.
it‘s the wealth inequality my friend. thats why asset prices go up.
A job is not a job is not a job. I’m not sure single metric captures this but the income distribution is what we should be talking about.
I think a combination of all 3 should take place
This guy is just very excited about what he’s talking about, but there are so many holes and things that are not true. For example, a ton of people saw 2007 coming it’s not like it’s smacked us in the back of the head and nobody knew
@MH-et5sn
Ай бұрын
Right. He said many things that were just nonsense.
Why do people keep believing the unemployment rate? It has no meaning because it is inaccurate and the jobs that are available do not pay enough for a person to live above the poverty line.