How do I start an association and call it HRA (Home Renter's Association) and collect protection (extortion) fees from renters? I don't want to compete with HOA.
Once again I’m so glad that I sold my restaurant and building about 16 months ago. I’ve been watching the writing on the wall and knew that things were only going to get worse. Thank you Michael. Blessings,Carlos ✝️🙏❤️😊🇺🇸
@sircarlosmusicbmi statistically, you made a mistake. Revisit my comment in 5 years, and if I'm wrong, I'm sending you $1k. If I'm correct, just take it as a learning lesson.... don't get your advice from a guy fear mongering on UA-cam.
What will 1k do after five years of hemorging money? Yes it might take five years for the economy to get back. I hope it doesn't take that long but I see the writing on the wall as well.
I work in a big building in a downtown. My work area is 1/6th of the floor and there are about 25 cubicles. Only 5 cubes are occupied. At first, I thought others work from home. But, the fact is that they all have been laid off. When I ride the elevator in the bldg, it is always just me inside. When what I see is opposite to the jobs report, I begin to question who counts the labor participation. It is probably the same people who report the inflation numbers.
Had lunch today at a pizza by the slice place... had the special... slice of pizza, cheese stick, and drink.... $18.. the place was empty.. as other costs rise, taxes, insurance, food, fees, etc... but people are not eating out nearly as much.
Who else lives in a house that they couldn't afford to buy today? I see prices of everything and just have to laugh. I remember when super sizing it cost .39. Now the only thing super sized is the price.😮
I'm into my nashville house for about 450k. it's probably 1-1.2M now. I would NEVER buy or live in a million dollar house, yet here I am. I couldn't touch this house if I didn't already own it.
Definitely not for as much as we have put into it, including original purchase. Especially if you include the expenses that go into selling a home. We realize now that we are upside down and will need to stay here for at least ten years for us not to loose our shirts. Like many, we over paid for the house, but there were so few available. @@sactopyrshep
Was in the park over the weekend, and over heard one couple talking to another couple about how expensive eating out is. One woman said that her and her husband went to Panera that weekend, and it cost them $50 , and she said and I quote ‘ it was $50 ! Can you believe that? $50 … for Panera ! ‘
Yep. I've only been there a few times, and that was before the pandemic. They were pricey back then I thought for the little food you got. I didn't care to ever go back, can't imagine the prices now. Ridiculous now.
I went on a cruise out of Miami about 10 years ago I stopped to get something to eat large pizza with 3 ingredients and 20 wings $54. I could just imagine what it cost now. Florida is a huge rip-off.
The food trucks here in Vegas are making bank. Perhaps restaurants can temporarily open food trucks and serve venues until things look up. I hate to see great foodies go out of business.
Food trucks on the strip? If I remember there are some areas on the strip where they can setup shop. Of course I remember in olden days where the buffets were a loss leader to get you in and your money gambling.
My Business is here locally in Opa-locka, in the past 30 days there’s been 2 evictions in the warehouse units I’m in. Worse part is Miami Dade police, shut them and everything they had inside was lost. 5k square feet each tenant. Rent tripled since pre pandemic under new landlord.
I work with small businesses. I also have REA friends who are leaving or taking on other jobs in order to make ends meet. This morning, I attended a U.S. Chamber of Commerce webinar on The State of American Business and felt like it was more of the smoke & mirrors that we get from the mainstream media.
Not really a surprise about the US CoC seminar. They have been recognized by US Senators as a leftwing organization that is fronting for "woke" corporations. Rosy scenarios are likely put out to help the failing Brandon WH try to hang on to power in the 2024 election. I don't think many people are falling for it anymore.
STOP!!! FALSE INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!! Get the whole story before broadcasting sensationalist info that applies to a survey of 5,000 small-small referral businesses out of 33 million in the US!
Well, now the business understands how their underpaid employees, who can't afford to live because they're not paid a living wage, feel. See you in tent city, America.
What folks fail to understand when buying a house…the house payment isn’t really the problem it’s the greedy SOBs who set the tax rates. Learned this lesson the hard way and glad I was able to sell the boat anchor years ago. Please pass along to potential buyers to look into the tax rates.
I literally just bought a 40 ft boat to live on 2 hours ago, 650 a month for the dock with water and power, no property tax, 17k for the boat. Can't think of any other way to do it. Laying here watching this wondering how folks pay 10's of 1000's a year in HOA/Tax/insurance
Property tax rates can be mixed blessing. They increase usually when your property value increases. Occasionally this can get a homeowner in trouble like the one on the waterfront. 3:27
My son bought a boat years ago and it is cheap living in comparison with owning a house. He is single so it works for him. Flying solo has its advantages at time.😅
There is simply too much debt to have a healthy economy now. Lowering interest rates will just make that worse and give those who overspend another excuse to get even more in debt. It has become a choice between trying to control inflation or having low interest rates, both are no longer possible now like they had been in the past. People seem to forget that in the 1990s, only 24 years ago, we were running budget surpluses, we had even higher interest rates, a booming stock market, full employment with real wage gains, and moderate inflation. What changed, outsourcing to foreign countries, losing manufacturers, automation, the internet, too many people not contributing, wild reckless spending, bad future planning. In the 2000s we started the low interest rate and stimulus thing as a way to hid the weakness of our economy, we learned nothing from the 2008 crash, especially in the investing world, government and wall street and then doubled down on low interest rates and massive constant stimulus and massive new government spending, along with the fed buying up debt. Now we have a country that caters to criminals, over 10 million new illegal aliens, and those that by their action fail and drag everyone else down with them. You cant have a healthy, prosperous, and growing economy if you ship high paying jobs overseas, tax the crap out of your small businesses and working class, bail out reckless and greedy corporations, allow people to never contribute and fail without consequences, use AI and automation to get rid of workers, and spend money you don't have over and over and over again. Globalism and this increasing move towards more and more government spending (Socialism light) have been failing the American people for decades, its just now that the lobster has realized its been boiled,
A disaster of an administration. We were shut down entirely too long while Biden got out his little money printer turning our dollar into used toilet paper! not to mention our citizenship with this border invasion.
It boggles my mind that our country allowed outsourcing manufacturing overseas. Everyone knows that those jobs never come back and it weakens our economy greatly. What hurts America the most is greed and not looking out for each other. The business owners/CEOs agree to stab their employees in the back and never fall on their sword.
I just shut down my side business ( private investigations). I went from grossing $46,000 four years ago, to just grossing $21000 in 2023. It just wasn’t worth the hassle any more with a good retirement already set up.
@@FooFan-b3k It was just a way to get my retirement income up a little bit. I'm a retired federal agent so it was easy work to get and, to do. I was making $165,000 a year when I retired (I live on the Mississippi gulf coast so that already went twice as far as when I was living high cost areas like Miami). My retirement income is only $110,000, and I started doing that to avoid hitting my IRA. It was good the first few years, and with my retirement income put me back pretty close to where I was making when I as working five days a week, but only having to work two days a week. But, as I said, starting in 2021, the work just evaporated and it just got where it wasn't worth the same expenses for half the gross. I did work out of my home, and my car mostly, so the rent thing didn't affect me. The business climate, big or small, just isn't that great right now. And, the last thing was selling our boat, which we weren't using enough to justify, that was costing us about $10,000 a year in slip fees, insurance, fuel and maintenance. Small businesses. There are a lot more of them out there than most people realize. I guess the new slang for that is called a "hustle" now.
Hunger is not a sign that it is God who is dealing with you. Scripture also said " a little sleep, a little slumber, a little folding of the arms so shall poverty come upon you like a Bandit. That is why we need knowledge of saving and investment. It is advisable not to eat our tomorrow and the future of our children today...
I closed 1 of my aircraft repair stations in 2023. If things don’t change I’m going to have to close my other shop ! It’s not great pay but my lowest paid employe. Was 50k. I laid off 5. In 2023. … 4 more might bite the dust this year !! Folks aren’t playing with their 100k toys …
The cost to start a small business in my state Massachusetts is absolutely insane…Making an actual profit is a pipe dream for most. The taxes regulations and the amount you have to charge customers is 😳😳
Thank you much for the education on these things. As a guy with no parents to teach him your filling me in on a lot of stuff to know. From one Italian to another, thank you buddy.
A D'angelos franchisee was leasing a small space in a mall here in Ma. He told me he was paying 15000$ per month. He closed the space shortly after. Greed is the problem in this country
@@sactopyrshep I'm all for capitalism but 15000$ for a tiny space at a mall that has been paid for by about 15 years ...I'm sure they're mortgage free.
Michael: All I can do is keep repeating what the late, great Charles Krauthammer said, "Denial is the ultimate defense mechanism'. A vast majority of the folks out there will sing la ,la , la, until the roof caves in on their head. The late, great Rush Limbaugh said, "There are 3 kinds of people in life, those who make things happen, those who obstruct making things happen, and those who stand around saying, what the hell happened!"
The average home is about $500k which equals to about $3800 in monthly payments after you factor in downpayment, mortgage, taxes, and insurance. Not including all your other utility bills, and car payments. Not counting food shopping. That's more than many ppl gross in a month. (At least in my area) Life simply has become unaffordable for most americans.
A good friend of mine (retired engineer) just went back to work to pay rent & utilities plus insurance on his small business. I'm sure he's not the only one.
HOA’s are out of control! As for movies, I started buying them online too, because they are harder and harder to find, along everything else. My husband just returned a pair of running shoes to Amazon, too.
I have never understood how some of these businesses can make profit , even inNY Manhattan ,how much money you need to make to justify 80K Rent a month and any other expenses + taxes Employees payroll before you make profit 🤷🏻♂️
Most Business's simply cannot afford to continue raising prices to cover costs . The same way that the incredibly high price of Homes and Cars maybe sustainable ? But only if everyone were to somehow win the Lottery . Otherwise ? Something has to break .
Michael you present the absolute reality that most people won’t accept, honest and grounded, people is proud of their house equity, well hold for new taxes and insurance rates and talk about it!!! Thank you Michael for your advise
Where I live every mall has empty spaces with the windows papered up. it is so sad. I feel sorry for the folk who were running those stores and who may be struggling emotionally now.
I’m in the EU right now and I want to share that we’re in red zone. VW announced massive layoffs recently, like really massive. I used to work in office tower which was like half-empty. Prices go up everyday and we are forced to buy less of other products. Jobs are hard to find and if you’re lucky to find one the pay is less than it was 15 years ago. I’m sharing this because many US companies are global. Now how can their management claim that things are great while their revenue is shrinking in one of their key markets? Also tensions with China don’t contribute to growth of US businesses either. The decline here is noticeable across all industries and sectors of economy, it’s not just “some slowdown”. So anytime someone tells you how great US economy is doing, please ask them to comment how that’s possible when the EU economy is sinking.
I've found that those in the EU or UK are extremely gullible. Often working a second job stocking shelves at a grocery store. It's just not that way in the USA.
@hvaball150 I don't recognise that as being a typical situation in the UK, where the labour-market is tight and where a couple, both stacking shelves, would be bringing in north of £40,000/year.
You can thank the U.S. for blowing up the Nordstream Pipeline that supplied cheap Russian gas to run the EU economy. Without the cheap gas, the EU must buy expensive American gas shipped from the U.S. To keep prices competitive, businesses must lay off workers to compensate for the increased cost in energy. That is why you suffer.
@@andyhughes1776 good point. But even with the Russian pipeline... The EU energy policies have left them vulnerable to rely on either source. Of course if you invite the US they will oblige. Thanks for the tax break EU.
When I retired in September 2022 the tellers and manager of my bank branch told me I was doing the right thing. What do the people working in the banking industry know the rest of us don't.
I tried being a teller from December 2022 to May 2023 at a credit union. People are broke, but we were still supposed to push products and services. I couldn't. I'd say half the people or more needed to cash their checks on the day they got it. Not deposit, cash. Also, people are mean when it comes to banking in person. I bowed out.
It’s on purpose. They’re trying to move everything online. So they’re using several methods to make this happen. It’s been slowly in play for awhile now, it’s just now we’re starting to see the effects.
"They"? The Illuminati? Or the Lizard People from the Hollow Earth? The internet has existed for 25 years commercially. If They wanted to move online on the whole, they'd ALL already be there. But more recently, there ARE many reasons to move online. That's a happenstance, not a conspiracy. I know it's comforting to think there's a handful of people in charge and it's all under control, but there's not. Life is chaotic. We can't foresee or control what's going on. There is no grand plan. Some people can try, and then BOOM something unforeseen happens. That's just life. But manipulating the dollar? That's absolutely deliberate and this result was predictable. Economics is almost a science.
I used to work in accounts payable for a medium sized business in LA. The rent for one floor of a shabby office building was $20,000 a month. We were running out of cash before I left. That was 15 years ago. I had to stall for time with a lot of vendors. The typical rent for a small business the size of a coffee bar in my city is $100 a day, (or it was in 2005). The rent bill will sink a lot of businesses.
I own and operate my own mechanic shop. We are staying afloat, but I have had to get creative with payment options. I signed up with 3 different lenders to offer repair financing. As folks just cannot afford the cost of some repairs. 🤷♂️ Rent wise, my lease went up from 2800 to 3500 in 2022, but I locked it in for 5 years.
Took my friend to pick up her car yesterday. Was over 4 grand. The car is worth 3500. But, it's paid for, and she can't afford a new car at these prices. Catch 22. Makes me grateful for my old simple chevy. I can buy a lot of gas for 4 grand!
When I looked for a retail space I was aghast at the cost of rent. Having to crack that nut every month as well as all the other costs it's amazing these small businesses hang in there under all the financial burdens.
I like the walk and talk, seeing how the 'other half' live albeit US. Im UK, where we walk a lot. I thought that Americans needed an operation to remove them from the car!!! [ :) ]. Appreciate the info.
Interests rates were low and prices went nuts. Businesses complaining about rent increases… that’s real estate investors cashing in. If real estate estate whether residential or commercial takes a majority of one’s income then it’s not rates as much as it is over valued real estate. 100% increase in value has blown a gigantic hole in the economy and everyone is paying for it
I'm still shaking my head that realtors are blaming interest rates. They're still lower than when I worked it. It didn't stop business. It's going to take a lot more repair than just a lower interest rate. ~ 🦋
In California when the rents skyrocket they move out and try to live with friends or family and if that doesn’t work out you go to Dick’ sporting goods and buy a nice blue tent and stake out a nice beach front location at Venice.
Omg. That's the reason. . . . GREED.... All over the united States..... City's, countries........ every state... have officials,who are evil and greedest ever....bank's as well..... A vaious cycle......of GREED..... 😢😢😢😢😢😢 GREED kills us All,n nobody wins..... Causes metal stress....n more crimes. DON'T they get whyyyyy... Ok well.... This is so serious😮😮😮😮....
Disney offering two day specials yeah another sign it’s done when was the last time they offer specials for residents like now and it’s still not worth going it’s so expensive
I can believe Richard because I have two friends who are realtors that have closed a couple of their satellite offices when the lease expired. Times are slow they said.
They fail all the time in St. pete. Rent is sky high and they try to sell random things like olive oil, candles, and thrift clothing. No idea how they can make a profit.
Taxes in texas; 1500sqft home, 6 buildings on property, 12 acres back 10 are disregaurded, 5 miles from a gas station, 16 miles from town, cost $8700 in taxes. A shop in town is cheaper to rent than owning my own shop so far away from everything. Crime is at an all time high even in the country. Shutting down my small business to go work for someone.
Bottom line…. Greedy Landlords have raised prices to unmanageable levels. The tipping point has been found now if we could just come back to realistic prices the world could continue.
I have to tell you how much I enjoy your videos. You keep it direct and straightforward, you stay on-topic (there’s no veering off into political rants like so many people do today) and you discuss what we all know is happening in very simple terms. Great job- I appreciate you!
STOP!!! FALSE INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!! Get the whole story before broadcasting sensationalist info that applies to a survey of 5,000 small-small referral businesses out of 33 million in the US!
All the factors have been there for a major recession/correction. Its true that theres a shortage of housing now but incomes cannot match these absurd prices and when the debt bubble finally pops and the bill comes (especially when unemployment increases) people can no longer kick the can down the road and will have to come to reality. Keep your balance sheets healthy folks and be prepared for the storm, dont become a slave to debt and its corporate overlords!!!!
Good evening, I appreciate the content. In California things are slowing down in the private sector. The volume of freight being transported inbound & outbound is low compared to 2023. In the S.F Bay Area we just got notified that PG&E monthly bill will go up, just in general a bad economic climate. Also Google just announced they’re doing a bunch of layoffs in Silicon Valley.
@@MichaelBordenaro Yes I watched it, I find it amazing how most people act or conduct themselves like it’s a normal time. The amazing (sarcasm) California Govt were thinking about proposing on making all highway lanes tolls in the S.F Bay Area. But they received so much backlash that they dropped the idea for right now. I listen to your videos & watch how in a way you’re disappointed with Florida, and I’m the same way when it comes down to California. The weather, and environment in general is great. But the politicians & their policies are drowning this state. My oldest kid is going into high school this fall, but once he graduates we will most likely get out of here.
@@guyz7777 LTL incoming freight & outgoing freight, LTL companies deal with mostly small businesses since they tend to ship small portions. For example instead of a full trailer going to the same location, a small business will only ship 2-6 pallets. I know because I work in the industry & compared it to previous year.
@@Calinative0523 Putting a toll on California highways going into and out of the Bay Area has been around for decades by economists and city financial planners. The reason is simple; the number of drivers commuting into the Bay Area for work but spending their money elsewhere greatly exceeds the number of people who reside in the Bay Area and spend their money in the Bay Area. And every city that's invoked congestion pricing, which a toll essentially is, has seen a massive increase in revenue while greatly reducing their tax expenditures. Repurposing parking lots into businesses and residences (which happens naturally when the commuters are removed from the highways) creates a bigger tax base, while at the same time getting rid of out-of-town commuters who extract wealth while contributing nothing in return.
Michael as always you are spot on the mark! Always hard to bring the 'stark' reality.. Checked with my Chiropractor..her business down over 50%. Down to working two days a week.. Hair stylist been with 24 years owns her own shop...only open 4 days and has taken to selling 'designer candles' for a 'friend'...its tough..
The only person who has “stopped” economic turmoil was Vaulker. And it was because he had the balls to say fuck you too the treasury and the president by making business credit basically unviable. Hard to borrow endless cash at almost 20 % interest.
I moved a lot of businesses from an office to homes a few years back. Some were so eager to get employees back in the office. Now that work is going away a few have given up the office and went home based again. Most have done a lot better working from home, it is so much cheaper and more productive. Interestingly here in Miami I see restaurants packed with customers. I rarely eat out and when I do it is always at a buffet. Any place with a menu is a no-go for me.
There are many reasons why restaurants are packed. First one is that all other restaurants in the area have closed (not enough demand to pay rent and utilities). Second reason: insufficient staffing that makes servicing customers longer. So without further analysis “packed restaurants” isn’t really indication of booming demand. Under healthy capitalism conditions booming demand would have caused restaurants popping up on streets to service the excessive demand, but data presented by Michael in last two vids (negligible SMB growth and rent delinquencies) suggests that the situation is different.
South beach is touristy so I can imagine why that area is packed having been there. People vacationing and hanging out before boarding the cruise ships.🏖
Been to Key West also and it is definitely more laid back. Have a lot of chickens running around like in Hawaii, Looking to move to Orlando or Tampa but hearing a lot of negativity about Florida in general. @@chargermopar
Just to let you know we do appreciate how you present it just as it is Michael. You have excellent ability to see things as they are and present the info clearly. Continue the great work...
Great videos and information. I like the pauses and seeing around. I like the walking around as you talk truth! Keep ‘em coming bro.. I’m waiting to buy a rental property when this goes down!!
I work for a beauty school and we're growing, but I believe some of that growth comes from a number of other schools and salons closing. Thanks for the videos Michael.
This is a little off topic perhaps. But I noticed recently that redfin has market insights you can click on. The realtor listing the property post near the top of the listing that it's a hot market and people need to move fast. But then if you click on the market insights it says prices are declining and not much is selling . The ones that do sell are selling for below list . Redfin will rate the area not competitive. I don't see how the agents can go on there and say that it's a hot market and people need to buy now. They shouldn't be able to do that.
The reason Realtors say that it's a hot Market is because they are on commission they do not get a salary. So if they do not sell anything they do not make any money. So you see the incentive to lie to you is very very great and that is why you should never trust most Realtors because they will lie to your face I have been in the business and I can tell you for a fact. They are no different than car sales people if they don't make a sale they don't make any money it's really that simple. I have been in both those Industries and I wouldn't trust a car salesman or realtor to save my freaking life. Now of course there are a few exceptions to every rule but those exceptions are few and far between trust me on that one. Only trust someone who does not have a vested interest in telling you that something or the economy is great. I have learned the hard way by being around these type of vultures and most of them would sell their mother down the river to make a buck. It is a pretty sad commentary on the state of the automobile sales business and the real estate sales business.
The Fed is dealing with more inflation than expected, and the kicker is, the Fed's weird measure of residential housing costs when up 6% year to year in December. This is the worst componant of inflation for so many people, and it is still awful in much of the country.
STOP!!! DISTORTED INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!! Get the whole story -- it applies to a survey of 5,000 small-small REFERRAL businesses out of 33 million in the US!
Man am I glad I found your channel. Your intel is on point, and provides a much more complete picture of the market and economy than mainstream sources.
STOP!!! DISTORTED INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!! Get the whole story -- it applies to a survey of 5,000 small-small REFERRAL businesses out of 33 million in the US!
This figure is probably close to correct, I've noticed in my area almost half the restaurants I used to like to go to are closing up or have closed up because they can no longer pay rent.
Looks like rents are going down from here. Can’t price gouge and expect to keep winning. Actually thinking more about it. Taxes and property insurance rates are up, which probably is the reason why rents are up.
Your videos are so ON POINT! Don't stop sharing the REAL knowledge. The HOA issues, credit issues, interest rate issues are real. Btw, the house you showed where they were not current on their property taxes, did you see those cars in the driveway? Wowsa. No judgements, but man those were some fancy rides. Thanks for all you do.
CITIES and HOA’s EVERYWHERE ARE GOING BROKE! (MASSIVE BUDGET SHORTFALLS) ua-cam.com/video/F1ejgyCml08/v-deo.html
There is no good news.
How do I start an association and call it HRA (Home Renter's Association) and collect protection (extortion) fees from renters? I don't want to compete with HOA.
DEBBY DOWNER IS BACK ON PEOPLE
Property taxes will triple easily, the cities and counties have no choice. Tax auctions won't attract buyers, who wants the stone around their neck
I literally closed my business last year, because of this very thing. Got tired of working just to pay rent & utilities.
sorry you had to close your dream.
Me too. I had record sales too, but also had record expenses. Almost worked myself to death.
Can you do it online? No point in paying rent I agree.
Unreal that people buy multimillion dollar homes and can’t pay their property taxes.
💩happens. Some of it looks like some got greedy and got it handed to them. 3:27
If they're smart enough to make that much money, maybe they aren't that smart about all the extras involved.
Maybe they aren’t smart at all and they’re just losing mom and dad’s money.
their eyes are bigger than their stomachs. when you go for big air, you gotta land it, or you end up like Evil Knievel at Caesars Palace
It's, All..... GREED....all of this.... Watch the show american GREED show..... It's evils devil's...
The home with the delinquent property taxes. They sure had some nice cars in the driveway though
Raptor, Mustang and Aviator from what it looked like...
I always wondered how some stores are always empty and open.
Nobody can afford $20 a person for a small plate of food.
Those places priced thereselves right out of business.
What do you mean nobody that’s peanuts
Once again I’m so glad that I sold my restaurant and building about 16 months ago. I’ve been watching the writing on the wall and knew that things were only going to get worse. Thank you Michael. Blessings,Carlos ✝️🙏❤️😊🇺🇸
@sircarlosmusicbmi statistically, you made a mistake. Revisit my comment in 5 years, and if I'm wrong, I'm sending you $1k. If I'm correct, just take it as a learning lesson.... don't get your advice from a guy fear mongering on UA-cam.
Perhaps you can reopen for the next printing cycle
@@AssetAddictmhmm, you know more about his situation than he does, yes
What will 1k do after five years of hemorging money? Yes it might take five years for the economy to get back. I hope it doesn't take that long but I see the writing on the wall as well.
Very smart !!!!
I work in a big building in a downtown. My work area is 1/6th of the floor and there are about 25 cubicles. Only 5 cubes are occupied. At first, I thought others work from home. But, the fact is that they all have been laid off. When I ride the elevator in the bldg, it is always just me inside. When what I see is opposite to the jobs report, I begin to question who counts the labor participation. It is probably the same people who report the inflation numbers.
Don't fart in the elevator 😂
BLS is the same people
The sky is falling. Then proceeds to show water front property with yachts.
Had lunch today at a pizza by the slice place... had the special... slice of pizza, cheese stick, and drink.... $18.. the place was empty.. as other costs rise, taxes, insurance, food, fees, etc... but people are not eating out nearly as much.
18 bucks? I didn't have a cheese stick, but I paid $8. I don't love cheese that much 😂
~ 🦋
I live in rural America. had a slice of pizza at Casey's yesterday. $3.75. Coffee was 1.79.
Who else lives in a house that they couldn't afford to buy today? I see prices of everything and just have to laugh. I remember when super sizing it cost .39. Now the only thing super sized is the price.😮
Everyone should live in a house they couldn't afford if they bought today.
Everyone...
I'm into my nashville house for about 450k. it's probably 1-1.2M now. I would NEVER buy or live in a million dollar house, yet here I am. I couldn't touch this house if I didn't already own it.
See…the rent is TOO damn high! Wow.
Yep!!!
Bought a house in 2001. wanted to downsize and save on taxes. just received a tax assessment. my property taxes are going up 20%... 20%. crazy!
AAnd how much more could you sell that house for thsn what you paid?
20 percent raise in a year. What a joke
Definitely not for as much as we have put into it, including original purchase. Especially if you include the expenses that go into selling a home. We realize now that we are upside down and will need to stay here for at least ten years for us not to loose our shirts. Like many, we over paid for the house, but there were so few available. @@sactopyrshep
Was in the park over the weekend, and over heard one couple talking to another couple about how expensive eating out is. One woman said that her and her husband went to Panera that weekend, and it cost them $50 , and she said and I quote ‘ it was $50 ! Can you believe that? $50 … for Panera ! ‘
I spent $38 plus tip at Waffle House last night!
Yep. I've only been there a few times, and that was before the pandemic. They were pricey back then I thought for the little food you got. I didn't care to ever go back, can't imagine the prices now. Ridiculous now.
The worst I heard was 2 cream cheese bagels and 2 coffees at Dunkin donuts for 43 dollars. Lol. California. Lol
Whole roasting chicken is $10 ar Publix. Time to start vegetable garden 😊
I don't know how the average person is surviving right now
GOD
We are surviving very carefully
They’re not - complete denial
I went on a cruise out of Miami about 10 years ago I stopped to get something to eat large pizza with 3 ingredients and 20 wings $54. I could just imagine what it cost now. Florida is a huge rip-off.
The food trucks here in Vegas are making bank. Perhaps restaurants can temporarily open food trucks and serve venues until things look up. I hate to see great foodies go out of business.
That's a great cost saving idea to open food truck instead of a restaurant or sit down eatery.
Sign of the times: Getting your meals from a food truck delivered to the car you're now living in. 😂😂😂
Food trucks on the strip? If I remember there are some areas on the strip where they can setup shop. Of course I remember in olden days where the buffets were a loss leader to get you in and your money gambling.
The day I eat food from a food truck is the day I give up on life. Disgusting 🫣 🤮
. Somebody never stopped at the taco truck in the Mexican area of town
Good video, Mike. The reality is that it just didn't start. I was telling people before I retired, and they didn't believe it.
Mike? Are we allowed to call him that? 😂
My Business is here locally in Opa-locka, in the past 30 days there’s been 2 evictions in the warehouse units I’m in. Worse part is Miami Dade police, shut them and everything they had inside was lost. 5k square feet each tenant.
Rent tripled since pre pandemic under new landlord.
I work with small businesses. I also have REA friends who are leaving or taking on other jobs in order to make ends meet. This morning, I attended a U.S. Chamber of Commerce webinar on The State of American Business and felt like it was more of the smoke & mirrors that we get from the mainstream media.
Not really a surprise about the US CoC seminar. They have been recognized by US Senators as a leftwing organization that is fronting for "woke" corporations. Rosy scenarios are likely put out to help the failing Brandon WH try to hang on to power in the 2024 election. I don't think many people are falling for it anymore.
Whoever commented I can't see your reply.
Can you say it again without trigger words?
STOP!!! FALSE INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!!
Get the whole story before broadcasting sensationalist info that applies to a survey of 5,000 small-small referral businesses out of 33 million in the US!
well Biden has told big tech to keep it positive no negative on his administration.
Well, now the business understands how their underpaid employees, who can't afford to live because they're not paid a living wage, feel. See you in tent city, America.
What folks fail to understand when buying a house…the house payment isn’t really the problem it’s the greedy SOBs who set the tax rates. Learned this lesson the hard way and glad I was able to sell the boat anchor years ago. Please pass along to potential buyers to look into the tax rates.
I literally just bought a 40 ft boat to live on 2 hours ago, 650 a month for the dock with water and power, no property tax, 17k for the boat. Can't think of any other way to do it. Laying here watching this wondering how folks pay 10's of 1000's a year in HOA/Tax/insurance
Lmao imagine buying a house without knowing what the taxes will be 🤣
I have a theory. It's an ugly one. Even if you know what the taxes are the taxes could rise they could double every year to get those illegals housed.
Property tax rates can be mixed blessing. They increase usually when your property value increases. Occasionally this can get a homeowner in trouble like the one on the waterfront. 3:27
My son bought a boat years ago and it is cheap living in comparison with owning a house. He is single so it works for him. Flying solo has its advantages at time.😅
There is simply too much debt to have a healthy economy now. Lowering interest rates will just make that worse and give those who overspend another excuse to get even more in debt. It has become a choice between trying to control inflation or having low interest rates, both are no longer possible now like they had been in the past. People seem to forget that in the 1990s, only 24 years ago, we were running budget surpluses, we had even higher interest rates, a booming stock market, full employment with real wage gains, and moderate inflation. What changed, outsourcing to foreign countries, losing manufacturers, automation, the internet, too many people not contributing, wild reckless spending, bad future planning. In the 2000s we started the low interest rate and stimulus thing as a way to hid the weakness of our economy, we learned nothing from the 2008 crash, especially in the investing world, government and wall street and then doubled down on low interest rates and massive constant stimulus and massive new government spending, along with the fed buying up debt. Now we have a country that caters to criminals, over 10 million new illegal aliens, and those that by their action fail and drag everyone else down with them. You cant have a healthy, prosperous, and growing economy if you ship high paying jobs overseas, tax the crap out of your small businesses and working class, bail out reckless and greedy corporations, allow people to never contribute and fail without consequences, use AI and automation to get rid of workers, and spend money you don't have over and over and over again. Globalism and this increasing move towards more and more government spending (Socialism light) have been failing the American people for decades, its just now that the lobster has realized its been boiled,
A disaster of an administration. We were shut down entirely too long while Biden got out his little money printer turning our dollar into used toilet paper! not to mention our citizenship with this border invasion.
It boggles my mind that our country allowed outsourcing manufacturing overseas. Everyone knows that those jobs never come back and it weakens our economy greatly.
What hurts America the most is greed and not looking out for each other. The business owners/CEOs agree to stab their employees in the back and never fall on their sword.
We can no longer afford the government we have.
MAGA 🤡
@@pensacola321Venezuela 🤡
Yeah. And we can't afford to pay government workers a pension anymore. That's why they work for them. Pension
You mean the extortion mafia we have
Keep telling it like it is, Michael. We appreciate it!
I just shut down my side business ( private investigations). I went from grossing $46,000 four years ago, to just grossing $21000 in 2023. It just wasn’t worth the hassle any more with a good retirement already set up.
I bet you could tell some interesting stories lol😂
$46,000 isn't a business, it's a hobby.
@@FooFan-b3k Depends on where you live.
@@theeclectic2919 Yeah, I suppose in Zimbabwe thats alright, but anywhere in the US a business doing $46,000 a year is an embarrassment.
@@FooFan-b3k It was just a way to get my retirement income up a little bit. I'm a retired federal agent so it was easy work to get and, to do. I was making $165,000 a year when I retired (I live on the Mississippi gulf coast so that already went twice as far as when I was living high cost areas like Miami). My retirement income is only $110,000, and I started doing that to avoid hitting my IRA. It was good the first few years, and with my retirement income put me back pretty close to where I was making when I as working five days a week, but only having to work two days a week. But, as I said, starting in 2021, the work just evaporated and it just got where it wasn't worth the same expenses for half the gross. I did work out of my home, and my car mostly, so the rent thing didn't affect me. The business climate, big or small, just isn't that great right now. And, the last thing was selling our boat, which we weren't using enough to justify, that was costing us about $10,000 a year in slip fees, insurance, fuel and maintenance. Small businesses. There are a lot more of them out there than most people realize. I guess the new slang for that is called a "hustle" now.
Invest with what you can afford, stay in the game, persist and eventually you will reach a satisfying level of proficiency, Mrs Nancy told me that..
We humans are ignorant of profitability in digital investments and that has been the major issues limiting our growth .
Though I started with as low as $15000 actually because it was My first time and it was successful, she's a great personality in the state.
Hunger is not a sign that it is God who is dealing with you. Scripture also said " a little sleep, a little slumber, a little folding of the arms so shall poverty come upon you like a Bandit. That is why we need knowledge of saving and investment. It is advisable not to eat our tomorrow and the future of our children today...
I would really appreciate your helps on her contact details, few of my friends have given lots of recommendations towards her, please🙏..
On what's
App
I downsized my restaurant,and now I pay 20k less a year and I always pay on the first of each month
I closed 1 of my aircraft repair stations in 2023. If things don’t change I’m going to have to close my other shop ! It’s not great pay but my lowest paid employe. Was 50k. I laid off 5. In 2023. … 4 more might bite the dust this year !! Folks aren’t playing with their 100k toys …
Canary in a coalmine
It’s crazy how many places are closing up right now
@@MichaelBordenaro yep same here !
@@debbiec6216 and your point!!
I hear you friend. Aircraft insurance has went way up on private planes.
The cost to start a small business in my state Massachusetts is absolutely insane…Making an actual profit is a pipe dream for most. The taxes regulations and the amount you have to charge customers is 😳😳
Taxssachussetts!
Thank you much for the education on these things. As a guy with no parents to teach him your filling me in on a lot of stuff to know. From one Italian to another, thank you buddy.
A D'angelos franchisee was leasing a small space in a mall here in Ma. He told me he was paying 15000$ per month. He closed the space shortly after. Greed is the problem in this country
Socialism is.
Welcome to Capitalism
@@sactopyrshep I'm all for capitalism but 15000$ for a tiny space at a mall that has been paid for by about 15 years ...I'm sure they're mortgage free.
@sactopyrshep How is 125% debt to gdp ratio, the fault of free market Capitalism?
Add to the mix corrupt politicians
Michael: All I can do is keep repeating what the late, great Charles Krauthammer said, "Denial is the ultimate defense mechanism'. A vast majority of the folks out there will sing la ,la , la, until the roof caves in on their head. The late, great Rush Limbaugh said, "There are 3 kinds of people in life, those who make things happen, those who obstruct making things happen, and those who stand around saying, what the hell happened!"
MAGA 🤡
@@pensacola321How did that Socialism work out for the Jews?
I miss Charles, he was brilliant 😢
The average home is about $500k which equals to about $3800 in monthly payments after you factor in downpayment, mortgage, taxes, and insurance. Not including all your other utility bills, and car payments. Not counting food shopping. That's more than many ppl gross in a month. (At least in my area) Life simply has become unaffordable for most americans.
A good friend of mine (retired engineer) just went back to work to pay rent & utilities plus insurance on his small business. I'm sure he's not the only one.
HOA’s are out of control! As for movies, I started buying them online too, because they are harder and harder to find, along everything else. My husband just returned a pair of running shoes to Amazon, too.
I have never understood how some of these businesses can make profit , even inNY Manhattan ,how much money you need to make to justify 80K Rent a month and any other expenses + taxes Employees payroll before you make profit 🤷🏻♂️
That's a question for Louis Rossman. If you know who he is. You know the answer to the question.
I sold my small business 1.5 years ago. Don't regret it for one second.
Most Business's simply cannot afford to continue raising prices to cover costs . The same way that the incredibly high price of Homes and Cars maybe sustainable ? But only if everyone were to somehow win the Lottery . Otherwise ? Something has to break .
Economic news right now is like that meme, "Hey Friend listen, I know its scary right now but... it's gonna get way worse."
Michael you present the absolute reality that most people won’t accept, honest and grounded, people is proud of their house equity, well hold for new taxes and insurance rates and talk about it!!! Thank you Michael for your advise
Where I live every mall has empty spaces with the windows papered up. it is so sad. I feel sorry for the folk who were running those stores and who may be struggling emotionally now.
There is no middle class now,all those small businesses can close there doors.
Lays Potato Chips cost too much at $6.95 four a half filled bag.
Catch them on sale then stock up!!! Geesh or stop eating them!!
In the past people would buy potatoes and fry them. Why give your money to greedy corporations?
I’m in the EU right now and I want to share that we’re in red zone. VW announced massive layoffs recently, like really massive. I used to work in office tower which was like half-empty. Prices go up everyday and we are forced to buy less of other products. Jobs are hard to find and if you’re lucky to find one the pay is less than it was 15 years ago.
I’m sharing this because many US companies are global. Now how can their management claim that things are great while their revenue is shrinking in one of their key markets? Also tensions with China don’t contribute to growth of US businesses either.
The decline here is noticeable across all industries and sectors of economy, it’s not just “some slowdown”. So anytime someone tells you how great US economy is doing, please ask them to comment how that’s possible when the EU economy is sinking.
I've found that those in the EU or UK are extremely gullible. Often working a second job stocking shelves at a grocery store.
It's just not that way in the USA.
We know it's bs...
@hvaball150 I don't recognise that as being a typical situation in the UK, where the labour-market is tight and where a couple, both stacking shelves, would be bringing in north of £40,000/year.
You can thank the U.S. for blowing up the Nordstream Pipeline that supplied cheap Russian gas to run the EU economy.
Without the cheap gas, the EU must buy expensive American gas shipped from the U.S.
To keep prices competitive, businesses must lay off workers to compensate for the increased cost in energy.
That is why you suffer.
@@andyhughes1776 good point. But even with the Russian pipeline... The EU energy policies have left them vulnerable to rely on either source. Of course if you invite the US they will oblige. Thanks for the tax break EU.
When I retired in September 2022 the tellers and manager of my bank branch told me I was doing the right thing. What do the people working in the banking industry know the rest of us don't.
I tried being a teller from December 2022 to May 2023 at a credit union. People are broke, but we were still supposed to push products and services. I couldn't. I'd say half the people or more needed to cash their checks on the day they got it. Not deposit, cash. Also, people are mean when it comes to banking in person. I bowed out.
Michael - I hope to see you at 80 years old+. You are a riot and the things you say, combined with your grumpy directness, are hilarious!
It’s on purpose. They’re trying to move everything online. So they’re using several methods to make this happen. It’s been slowly in play for awhile now, it’s just now we’re starting to see the effects.
"They"? The Illuminati? Or the Lizard People from the Hollow Earth?
The internet has existed for 25 years commercially. If They wanted to move online on the whole, they'd ALL already be there.
But more recently, there ARE many reasons to move online. That's a happenstance, not a conspiracy.
I know it's comforting to think there's a handful of people in charge and it's all under control, but there's not. Life is chaotic. We can't foresee or control what's going on. There is no grand plan. Some people can try, and then BOOM something unforeseen happens.
That's just life.
But manipulating the dollar? That's absolutely deliberate and this result was predictable. Economics is almost a science.
I used to work in accounts payable for a medium sized business in LA. The rent for one floor of a shabby office building was $20,000 a month. We were running out of cash before I left. That was 15 years ago. I had to stall for time with a lot of vendors. The typical rent for a small business the size of a coffee bar in my city is $100 a day, (or it was in 2005). The rent bill will sink a lot of businesses.
I own and operate my own mechanic shop. We are staying afloat, but I have had to get creative with payment options. I signed up with 3 different lenders to offer repair financing. As folks just cannot afford the cost of some repairs. 🤷♂️
Rent wise, my lease went up from 2800 to 3500 in 2022, but I locked it in for 5 years.
Took my friend to pick up her car yesterday. Was over 4 grand. The car is worth 3500. But, it's paid for, and she can't afford a new car at these prices. Catch 22. Makes me grateful for my old simple chevy. I can buy a lot of gas for 4 grand!
When I looked for a retail space I was aghast at the cost of rent. Having to crack that nut every month as well as all the other costs it's amazing these small businesses hang in there under all the financial burdens.
I like the walk and talk, seeing how the 'other half' live albeit US. Im UK, where we walk a lot. I thought that Americans needed an operation to remove them from the car!!! [ :) ]. Appreciate the info.
Fun fact. The US has the second most vehicles of any country in the world.
Interests rates were low and prices went nuts. Businesses complaining about rent increases… that’s real estate investors cashing in. If real estate estate whether residential or commercial takes a majority of one’s income then it’s not rates as much as it is over valued real estate. 100% increase in value has blown a gigantic hole in the economy and everyone is paying for it
I'm still shaking my head that realtors are blaming interest rates.
They're still lower than when I worked it. It didn't stop business.
It's going to take a lot more repair than just a lower interest rate.
~ 🦋
In California when the rents skyrocket they move out and try to live with friends or family and if that doesn’t work out you go to Dick’ sporting goods and buy a nice blue tent and stake out a nice beach front location at Venice.
Beachfront property is 👍
Omg. That's the reason. . . . GREED.... All over the united States..... City's, countries........ every state... have officials,who are evil and greedest ever....bank's as well..... A vaious cycle......of GREED..... 😢😢😢😢😢😢 GREED kills us All,n nobody wins..... Causes metal stress....n more crimes. DON'T they get whyyyyy... Ok well.... This is so serious😮😮😮😮....
Disney offering two day specials yeah another sign it’s done when was the last time they offer specials for residents like now and it’s still not worth going it’s so expensive
They’re even doing free dining for those that have Disney plus
I can believe Richard because I have two friends who are realtors that have closed a couple of their satellite offices when the lease expired. Times are slow they said.
They fail all the time in St. pete. Rent is sky high and they try to sell random things like olive oil, candles, and thrift clothing. No idea how they can make a profit.
The rent is too damn high!
😊
Taxes in texas; 1500sqft home, 6 buildings on property, 12 acres back 10 are disregaurded, 5 miles from a gas station, 16 miles from town, cost $8700 in taxes. A shop in town is cheaper to rent than owning my own shop so far away from everything. Crime is at an all time high even in the country. Shutting down my small business to go work for someone.
Do you watch many of Michaels videos? $8700 in taxes seems cheap. It's like $87000 here in Florida....
@@hvaball150that’s definitely on the low side.
Stagflation is happening. They need to double interest rates.
You now what else the Fed said. "Transitory".
Bottom line…. Greedy Landlords have raised prices to unmanageable levels. The tipping point has been found now if we could just come back to realistic prices the world could continue.
Thanks, Michael! Don’t lose hope.
You realize his channel grows if things get worse
I never do!
Hope isn’t a strategy of any kind.
@@likeaboss8282IF zombie? You ain’t seen nothing yet 🎵
@@thedadyouneverhadchannel3544 ?
I have to tell you how much I enjoy your videos. You keep it direct and straightforward, you stay on-topic (there’s no veering off into political rants like so many people do today) and you discuss what we all know is happening in very simple terms.
Great job- I appreciate you!
STOP!!! FALSE INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!!
Get the whole story before broadcasting sensationalist info that applies to a survey of 5,000 small-small referral businesses out of 33 million in the US!
All the factors have been there for a major recession/correction. Its true that theres a shortage of housing now but incomes cannot match these absurd prices and when the debt bubble finally pops and the bill comes (especially when unemployment increases) people can no longer kick the can down the road and will have to come to reality. Keep your balance sheets healthy folks and be prepared for the storm, dont become a slave to debt and its corporate overlords!!!!
41% is staggering but believable in our area. For lease signs everywhere.
Good evening, I appreciate the content. In California things are slowing down in the private sector. The volume of freight being transported inbound & outbound is low compared to 2023. In the S.F Bay Area we just got notified that PG&E monthly bill will go up, just in general a bad economic climate. Also Google just announced they’re doing a bunch of layoffs in Silicon Valley.
Yeah, I heard about the electric bill increase in California. I talked about it and yesterday‘s video. It’s crazy what’s happening over there
@@MichaelBordenaro Yes I watched it, I find it amazing how most people act or conduct themselves like it’s a normal time. The amazing (sarcasm) California Govt were thinking about proposing on making all highway lanes tolls in the S.F Bay Area. But they received so much backlash that they dropped the idea for right now. I listen to your videos & watch how in a way you’re disappointed with Florida, and I’m the same way when it comes down to California. The weather, and environment in general is great. But the politicians & their policies are drowning this state. My oldest kid is going into high school this fall, but once he graduates we will most likely get out of here.
how can you tell freight is going up or down in only 2nd week of the year
@@guyz7777 LTL incoming freight & outgoing freight, LTL companies deal with mostly small businesses since they tend to ship small portions. For example instead of a full trailer going to the same location, a small business will only ship 2-6 pallets. I know because I work in the industry & compared it to previous year.
@@Calinative0523 Putting a toll on California highways going into and out of the Bay Area has been around for decades by economists and city financial planners. The reason is simple; the number of drivers commuting into the Bay Area for work but spending their money elsewhere greatly exceeds the number of people who reside in the Bay Area and spend their money in the Bay Area. And every city that's invoked congestion pricing, which a toll essentially is, has seen a massive increase in revenue while greatly reducing their tax expenditures. Repurposing parking lots into businesses and residences (which happens naturally when the commuters are removed from the highways) creates a bigger tax base, while at the same time getting rid of out-of-town commuters who extract wealth while contributing nothing in return.
Taxes to buy things, property taxes, insurance,are out of reach😢😢😢😢😢😢
Michael as always you are spot on the mark! Always hard to bring the 'stark' reality.. Checked with my Chiropractor..her business down over 50%. Down to working two days a week.. Hair stylist been with 24 years owns her own shop...only open 4 days and has taken to selling 'designer candles' for a 'friend'...its tough..
The only person who has “stopped” economic turmoil was Vaulker. And it was because he had the balls to say fuck you too the treasury and the president by making business credit basically unviable. Hard to borrow endless cash at almost 20 % interest.
I'm in SWFL. I see lots of empty strip malls.
~ 🦋
The good news is that asset prices will decline, or even crash, and those waiting smartly can and will buy.
Love seeing all the beautiful areas you show us. 😊
Thanks!
FL property values increased significantly such that homeowners get HELOCs to live the good life today - forget about tomorrow...
Thank you for keeping it real.
Out in Northern California
Thanks for keeping the media honest brother!!
I watched this 4 times Michael. It has some great information. I had to hear more than once😮
Michael we appreciate you taking your time To inform your viewers of what’s going on out there thanks
I moved a lot of businesses from an office to homes a few years back. Some were so eager to get employees back in the office. Now that work is going away a few have given up the office and went home based again. Most have done a lot better working from home, it is so much cheaper and more productive. Interestingly here in Miami I see restaurants packed with customers. I rarely eat out and when I do it is always at a buffet. Any place with a menu is a no-go for me.
There are many reasons why restaurants are packed. First one is that all other restaurants in the area have closed (not enough demand to pay rent and utilities). Second reason: insufficient staffing that makes servicing customers longer. So without further analysis “packed restaurants” isn’t really indication of booming demand. Under healthy capitalism conditions booming demand would have caused restaurants popping up on streets to service the excessive demand, but data presented by Michael in last two vids (negligible SMB growth and rent delinquencies) suggests that the situation is different.
South beach is touristy so I can imagine why that area is packed having been there. People vacationing and hanging out before boarding the cruise ships.🏖
@@Greg-qw7xl I live in Miami and the last time I went to south beach was in 2002. It's too depressing to go there I would rather to to the Keys.
Been to Key West also and it is definitely more laid back. Have a lot of chickens running around like in Hawaii,
Looking to move to Orlando or Tampa but hearing a lot of negativity about Florida in general. @@chargermopar
Hope you guys are doing well ❤
Just to let you know we do appreciate how you present it just as it is Michael. You have excellent ability to see things as they are and present the info clearly. Continue the great work...
Great videos and information. I like the pauses and seeing around. I like the walking around as you talk truth! Keep ‘em coming bro.. I’m waiting to buy a rental property when this goes down!!
I work for a beauty school and we're growing, but I believe some of that growth comes from a number of other schools and salons closing.
Thanks for the videos Michael.
This is a little off topic perhaps. But I noticed recently that redfin has market insights you can click on. The realtor listing the property post near the top of the listing that it's a hot market and people need to move fast. But then if you click on the market insights it says prices are declining and not much is selling . The ones that do sell are selling for below list . Redfin will rate the area not competitive. I don't see how the agents can go on there and say that it's a hot market and people need to buy now. They shouldn't be able to do that.
The reason Realtors say that it's a hot Market is because they are on commission they do not get a salary. So if they do not sell anything they do not make any money. So you see the incentive to lie to you is very very great and that is why you should never trust most Realtors because they will lie to your face I have been in the business and I can tell you for a fact. They are no different than car sales people if they don't make a sale they don't make any money it's really that simple. I have been in both those Industries and I wouldn't trust a car salesman or realtor to save my freaking life. Now of course there are a few exceptions to every rule but those exceptions are few and far between trust me on that one. Only trust someone who does not have a vested interest in telling you that something or the economy is great. I have learned the hard way by being around these type of vultures and most of them would sell their mother down the river to make a buck. It is a pretty sad commentary on the state of the automobile sales business and the real estate sales business.
how about $7.50 for 2 small taco truck "street" tacos. Delicious, but not quite enough for a meal. These used to be a dollar or two each.
Where was that a dollar? NYC Queens 2.50 to 3 each about 5yrs ago.
I'm looking at all these expensive car payments as you walk by.
The Fed is dealing with more inflation than expected, and the kicker is, the Fed's weird measure of residential housing costs when up 6% year to year in December. This is the worst componant of inflation for so many people, and it is still awful in much of the country.
The Fed will have to raise rates. They have no choice.
Excellent show. The data is very helpful.
STOP!!! DISTORTED INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!!
Get the whole story -- it applies to a survey of 5,000 small-small REFERRAL businesses out of 33 million in the US!
Michael I am completely hypnotized and cannot avoid watching your fabulous video presentations. There is no cure for me. I am hooked.
For me. I’ve always operated dept free. !
This right here is why my personal & business finances are 100% debt free......
Either prices go down or wages go up or a combination of both happens or things will go under. I predict things will go way under.
Man am I glad I found your channel. Your intel is on point, and provides a much more complete picture of the market and economy than mainstream sources.
STOP!!! DISTORTED INFORMATION!!! This rent paying ability survey was done by, "online REFERRAL network for small businesses," of its members -- who are better described as "barter" seekers. "You get free haircuts for a year if you change my oil," THESE ARE THE LEAST FINANCIAL SECURE SMALL, SMALL BUSINESSES. The #1 type of business in the survey that can make some, but not all, of its rent air Hair Salons, Beauty shops, and barbers!!!
Get the whole story -- it applies to a survey of 5,000 small-small REFERRAL businesses out of 33 million in the US!
This figure is probably close to correct, I've noticed in my area almost half the restaurants I used to like to go to are closing up or have closed up because they can no longer pay rent.
Were buying probably 70% online now. Comes down to time spent and cost. I find its alot cheaper for most products online.
I can't FIND most of what I need locally like car parts and work supplies.
8:20 Better than Paul Harvey's "rest of the story".
Great videos.
Looks like rents are going down from here. Can’t price gouge and expect to keep winning. Actually thinking more about it. Taxes and property insurance rates are up, which probably is the reason why rents are up.
It's hard to drop rents when costs to maintain property keeps going up
@@colettespencer3357 absolutely. My home owners insurance went from $2500 annual to $4500 annual. Just like he said it would. I live in Tampa
. Not once the property is foreclosed and the new landlord buys at half price. Then the landlord is good to go without raising rates
In some countries, landlords have nowadays to charge a percentage of annual sales (or profits perhaps).
The land slide is happening. Buckle up!
Your videos are so ON POINT! Don't stop sharing the REAL knowledge. The HOA issues, credit issues, interest rate issues are real. Btw, the house you showed where they were not current on their property taxes, did you see those cars in the driveway? Wowsa. No judgements, but man those were some fancy rides. Thanks for all you do.