People Are SICK OF HOUSING BEING SO EXPENSIVE!
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- Опубліковано 20 чер 2024
- Home buyers are protesting this housing market, and it is showing up in the data. Home sales are now down 2.9% from 1 year ago meanwhile inventory is up 8.8% from 1 year ago. Prices still continue to climb on a median basis however, this cocktail of lower home sales combined with higher inventory means it will only be a matter of time before homes get a little bit cheaper.
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Crazy overpriced and if Powell cuts rates, economists predict another huge increase in house prices and stocks.
@@carefulconsumer8682 absolutely will rise...
@@andrewgleason586not in the town he is visiting now. It is better to rent there
@@andrewgleason586 In my case, I only rented below my income and invested in IRA mutual fund money trees.
My money trees now produce average 3x pretax post-working income on top of ss and pension income.
I can easily rent in most cities without the hassle of home ownership.
My rent went up 5% today. I don't care because my money trees cover current and future expenses far more than I thought was possible.
New York City and State has had a *WICKED* long experience with this and hence Rent Control. Read of a story about Santa Monica California talking about this but that's the only mention outside of New York. Failure to see housing as an actual right which needs to be seen as such is real stunner as Building Up keeps rolling along like crazy particularly in South Florida and oblivious to the obvious risks but insoding causing property prices to continue to soar. A good rule of thumb is "imagine the population of the entire Earth moving to Flroida...in the next 6 Months" is how I look at this type of condition.
Shoutout to Pops...Best part of the video. It is good to see a Dad and Son doing something together. It does not matter what the thing is. Have a great weekend!
Yes 👍 we need more of it..
I also grew up with Mom and Pop under the same roof.. not much of that when it comes to DemonRat supporters because most single moms vote Democrat and that's how they like it
Agreed, his Dad seems cool.
HI DAD !!! Enjoy your time together !
@Oldeagle66 Good time to say...
The 🍎 doesn't fall far from the tree. No, it's not a tomato.😂
I like this series Pop series👊
I will say it again: Primary residence and your primary shelter should be tax free. 0 property taxes!
Since property tax exists I will always insist that people should put as little into the property as possible and pay the least amount as possible into the monthly payment no matter what. Property tax is such BS.
How do schools get funded in areas where most people own there home and there is little commercial property to be taxed?
@@bobjohnson2172 Income tax + sales tax.
@@bobjohnson2172 Schools need to have a capped budget and need to be scored on an annual basis based on student performance. The taxpayer is being ripped off. Look at the city of Chicago that spends 29,900 per student and graduates students that can't read write or do math. That is all mandatorily funded by the taxpayer. You are funding failure, no questions asked. School funding makes up the majority of your property taxes and the majority of that is to fund excessive salaries and generous salaries for teachers that don't teach.
@@bobjohnson2172 A school is indoctrination.....Nobody should be going to a "school", that's where people get beat up all the time and after school fights happen everyday and bullies pick on people all the time the teachers are crazy and idiots beyond measure......School is a very bad place.....To make people into slaves so they can have a government indoctrination "school" is not a good thing to have.....You were tricked....
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Carol on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
Owning property isn't always about profit. It's nice to have a home.
Yeah many don’t seem to understand this.
💯
"You will Own Nothing" - WEF outlined plan.
if you don't have to repair it, get divorced or need to move cause you take a job elsewhere
Bingo 👍🏻
My father passed away in 2016 and I called him pops. ..enjoy your time with him ...time DOES NOT heal that wound...that void is NEVER filled .
Same mine passed in 2017 and I still feel it
@@zaheerahshareef8131 🙏
🙏
My condolences… lost my pops in ‘05 , still toast him every August on his B-day, miss him too 🙏🙏
🙏🏽🙏🏽
Paying taxes on property you supposedly own is extortion ❗
If you plan to stay only at that home, not use roads, have no police and you only eat out of your garden that would work!
@@Leslie-xo9gyAs in the Wild West 😇
@@Leslie-xo9gyfuel taxes, sales taxes, income taxes, payroll taxes(employers side), utilities taxes, vehicle registration taxes. Surcharges and other governmental fees. Tolls to pay for roads that taxes already paid for. Building permits (tax), business license (tax), occupational licensing (tax), drivers license (tax). And the idea of mileage tax has been discussed for years, likely coming soon. Research and see how much of what you earn is taxed, you will find it's over 50%, Unless you are on welfare or live in your parents basement.
If you still believe you are already paying enough in taxes, go right ahead and pay more.
Nice standard leftist reply... 👌
@@Leslie-xo9gy That is false. It is unfortunate people like yourself have effectively been brainwashed into believing it. Let me ask you one simple question... how did we pay for all those things prior to 1913?
That's right. Prior to 1913, we had all the same benefits but no income or property tax. The progressive era in the US was a time period in which a certain group of people devised ways to effectively siphon wealth out of the people.
Here is the sad thing. The business that pays you gets taxed on their income, which they use to pay you, which is taxed again via income tax, which you then spend on a good or service, which is again is taxed, and if spent on a house its taxed for simply owning the property. Let that sink in. This is death by a thousand cuts, and you don't even realize it.
@@jakeforrest ...Daddy Government will always be there to protect and feed us. Trust Daddy. 😇
This year is going to be worse than the last, no doubt about it. Due to poor investment decisions that I would not have made if I hadn't been so concerned about my portfolio, I lost a significant amount of money last year. I continued to invest, but I was undecided about whether to begin making house payments. I eventually sold my jobs, and the house required more work than I had anticipated. I'm not sure how much longer I can continue in this manner.
Everybody has erred at some point. It's wise that you think about financial planning.
Indeed. With the assistance of a financial planner, I was able to diversify my portfolio across multiple markets and attain a net profit of over one million dollars by utilizing high-yielding bonds, ETFs, and shares. Having exposure to a range of companies, including ones that are currently producing cash flows, is essential.
Please let me know who your adviser is if it's okay; I need some recommendations
*Leah* *Foster* *Alderman*
Simply glance over her details to learn more.
A few problems with the housing market: stop selling to corporations. Stop selling to non us citizens. Stop selling to ppl who own more than 3 properties. Families should be able to afford at least one owned home!
Nice ideas, but greedy sellers don’t care who they sell to as long as they make maximum profit.
This would require government intervention
Love your Dad! He’s the strong and silent type.
I gave up at conception
Mobster
Like Gary Cooper
My dad was the exact same way. A man of few words, but when he spoke he had plenty to say. And people listened.
I used to be a mail carrier for 14 years. It was a good job. Glad to see your dad on the videos📫
Fwiw it’s a shit job now.
Yeah now we gotta make up all that time and money yall got during the good old days. 😂
@@RM-jb2bv Postal salary does not count off time where mail carriers have to sort and cull mail.
That is on off time and there is no pay for after hours labor, USPS knows they are getting away with unpaid hours. Sometimes I wonder just how exploited we are to the big machine.
@@Mark-pb8kj this guys old man makes more money doing nothing than your starting carrier. Got to keep that Ponzi going
I did it too in New Jersey. $15/hr no health benefits working weekends and until 8pm and worked like a dog for people on welfare sitting on the porch demanding checks and just angry people all around. Worst job ever!
Houses there are cheap because nobody wants to be there!
Property taxes and politics.
But people are there and they like it.
@@blackworldtraveler3711 They are there, but no telling whether they are stuck there or actually want to stay there. Many people are living in places they don't want to be. Financial, family, jobs etc....
My hometown houses are affordable jobs not easy to find
It's not that nobody wants to be there - it's that there aren't the jobs necessary for folks to afford to live there.
I still will never understand how these people are affording .5 - 1 million dollar homes. I mean, the taxes and insurance alone must be amazing.
Don't forget $10k renovations and $300 power bills. My taxes are $6.5k a year. Insurance, $3.4k. My place is worth 0.5 million. My mother's is worth 1 million. My first one was $205k. My mother's first one was $55k. I don't know how to respond to your post, except me and my family members all make enough money to afford our homes, and so do all of our neighbors.
A big part depends on location. My house is 17 miles outside of Pittsburgh. Built in 03’ and updated, was 600k and sits on 11 acres. Clean and green taxes are low only 6,500.00 a year. This is my 3rd home (because I’m old) so I put well over 50% down and the 15 year mortgage has low payments with near record low interest rates from 2020. You should get out of renting asap, learn to do handy work to update your house then sell for a better house. Time passes by
quickly, and it’s the easiest way to build wealth as you live in your asset.
Still a lot of rich people around. My friend had a brand new hose they built including land for $200k. Early this year they bought a bigger house for $450k and put the previous one for rent. I couldn’t even afford the rent they’re getting every month for their old house.
50% debt to income
We just bought a 1.2 million dollar home. I budget 7K a month for mortgage, insurance, and taxes and expect it to go up. Our property taxes will probably soon be 32K a year. However, my husband will make almost 600K next year. Also, we have bought and sold two other homes, increasing equity considerably each time, and we haven’t had transaction costs because these have been corporate relocations where we actually make money through bonuses and closing costs, packing/moving, and even interest rate differentials are covered by his company. I’m just sharing this to explain HOW some of us ARE doing it. We had to buy in a crazy tight market here with almost no inventory but we didn’t even consider not buying because of the incentives we get that aren’t evident to anyone just looking at the transaction from the outside.
There's probably no better person who knows what's going on with houses than the mailman who is the boots on the ground in any given neighborhood.
How do you figure?
@frozentundra7446 Because they walk the neighborhood for years and see all the houses going up for sale. They know when people move, they see the mail, foreclosure notices, certified mail etc. They see neighborhoods go down hill, o
people are sick sick of housing being expensive and they are the ones overbidding. if its too expensive then dont buy it, if its too expensive to rent let the place sit. self control is free.
yeah, I agree, being homeless is the way to go.
This comment is senile ^ this has to be boomer who already owns a home
People forget about the added expense into owning a home. Meanwhile, the realtor is gone. They don't care.
Yeah just sit in a bus station bathroom with your hands in your pockets and wait for all this to blow over. It’s free.
Yeah just be homeless no one will judge😂
When the economy is crashing so hard that the most popular food chains in American history are closing down because food is too expensive..... yeah... the housing market might be in trouble.
Rent and utilities are the things that people cannot cut back on and so those are going to be one of the last things to show the sign of the coming crash.
The closing and shuttering of restaurants on the bottom end of the restaurant industry is a tell.
The one thing we have control over is our bodies and cutting down on eating, and especially eating out, is the number one way people can be able to not spend money.
Fast food was one of the cheapest way to feed oneself for decades and the fact that people cannot afford it just shows that the ship is sinking.
The housing market on a downturn represents the upper-middle class and the elite that buys and sells property being on a tighter budget.
Imagine how bad it is for those of us living paycheck to paycheck.
We cant even afford a McD's cheeseburger.
Nononono.
Stop right there and think on that for a sec.
We Cant Afford To Buy A Cheeseburger.
It's not about fast food places raising prices.
It's not about fluxes in the real estate industry.
It's about inflation outpacing wages at a rate never seen before.
The fact that that is being spun as the fast food joints having high prices instead of focusing on the other side of the equation, the fact that people don't have the money to keep up with inflation, just goes to show how dishonest the news media has become protecting their party and trying to hide it's epic, historical failures.
No doubt things are tough. Your comments are spot on. Those that are poor are just getting poorer. The gap is widening. Those large corporations like to keep the same profit margins regardless of what state the economy is in. They could easily discount prices, take a smaller profit margin and still make loads of cash.
Problem is it's only the bottom 15% that are impacted. Not enough to make any different at the ballot box and not enough difference to influence corproations to change the way they do business.
They protect them because they have to protect their incomes. It is all so pathetic and corrupt.
@@TheSuperdodgy Only the bottom 15%. eh?
The bottom 15% of the economic system is collapsing?
What happens to an ecosystem when base 15% of the food pyramid disappears?
First the bugs, then the birds and on and on.
The hip bone's connected thigh bone sort o thing.
😉🍻
The cost of fast food is almost the same price of a chain sit-down restaurant. When that becomes the case, fast food will be phased out and people will pay a bit more and get higher quality food. A real burger from Red Robin, JB's, Cheesecake Factory, Chili's would be better than anything at McD's, Burger King, Wendy's, Whataburger, Jack 'n' the Box.
@@randomchord There has always been a bottom 15%. They have always been neglected. The haves vastly outnumber the have-nots. 66% of Americans own their own home. If you're not in the bottom 15% then things are not that bad.
So here is what is going to happen. I have been around since before the Resolution Trust Corporation was set up. The Feds became the largest owner of residential properties in America. Then they held thousands of homes off the market to stop prices from falling further. Behind the scenes they were bundling mortgages and selling them at deep discounts. The public was not invited. I went to the RTC office in Addison, Texas to check things out. Lawyers scurrying all over the place. I stopped a young lady and asked her who to talk to about foreclosures. She said she did not know and that she had been there 3 weeks and still did not know what her job was. Our government is controlled by thieves and liars and you all better get ready for the big one. The Petro Dollar is kaput and BRICS is busting at the seams. The destruction of America has been planned by the criminals that created the Federal Reserve for a very long time. America has been their golem and soon they will have no more use for America. They already control the rest of the West because they control every central bank in Europe, Australia and Canada. When America falls there will not be any place with a Bill of Rights.
It's not just the housing ! Every year the insurance goes up by more, the property and water taxes go up, all your groceries and basic costs of living go up ! Somethings going to blow eventually !
🎉🎉🎉 I’m so jealous 😢, my Dad passed away when I was 22 years old and I missed out on a whole bunch of life stuff.
Enjoy walking and talking with your Dad. Blessings,Carlos ✝️🙏❤️😊🇺🇸
I see you on two other channels. Lol
@@rhondae8222 Yeah I’ve got about 4 favorites.
I was 24. Never take anything for granted. I just got off the phone with my grandfather and grandmother who are 90 and 98. My dads been dead for almost 20 years. You just never know. God bless!
@@rhondae8222Carlos is always here supporting Mike’s channel just like you!🫶🎉🥰❤️
So sorry for your loss Carlos!🥹🥲🙏✨
Houses should be looked at as homes.
Protection for your family.
When you look at it as investments it gets touchy.
Investment shouldn't be touchy either, because we invest in our lives. Just living and growing a family is a type of investment. I get your intent though. Instead of simply investment, the quantity of ownership should matter. A guy who owns 10 houses for example is clearly different from the guy who owns one or maybe two (latter being a vacation home which they can rent out).
Maybe pops should have his own UA-cam Michael ! Seniors have lots to say!!😁
I have a strong feeling his father will have a channel of his own!!!
Yes, we do.
"I know the house price is expensive, but since the interest is low, just sell your current house to pay for the new one"
That will be so helpful.
My view of Illinois
The elected officials have decided illegal aliens are more important than tax paying citizens. It’s an absolute cesspool of injustice. Crime is sky high, and elected prosecutors act like public defenders. Criminals have the advantage here. Maybe things are better in the burbs where Michael’s dad lives, but not in Chicago
WAKE UP. U THINK BURBS BETTER. ??? WAKE UP- SMELL THE BLUE SKY 💙 😍 😎
I remember staying in a hotel in Chicago in 1994, phone book nearby, I decided to look up Rodriguez.
28 pages (front and back) worth of Rodriguez, did not even look up Gonzales or Lopez as the results would have been the same.
So the Illinois immigration welcome wagon has been going on since the 1990s.
Chicago is terrible..... anybody who says the suburbs is on the same pathetic level doesn't live/ spend time in the city.
Just Illinois??? 😂😂😂
VIVA ILLINOIS 🏳🌈🏳⚧
Great Illinois coverage. Thank you for shining just how stupid our property taxes are. Illlinois defines “taxed to death”
That’s why I left Illinois in 1974. Smartest move I ever made
People need to remember no one in the 50's or later bought a home to make a profit . If you lived in a good home for 40 years and got all your money back you were in hog heaven ! Now we're just a bunch of greedy folks . Mo money mo money !
My parents grew up during the 1920 - 1930's. They took it for granted that a used house sold for less than a new house, just like anything else (cars, appliances, etc.) and for the same reason.
People who think the house they live in is an asset is a fool. You never treat your primary residence as a piggy bank. It is shelter it should be paid off as soon as possible. If you want to make money do it elsewhere.
It really just comes down to a lot of people having lived in a real estate bubble since the mid-to-late 90s and thinking this kind of appreciation is normal since they have barely ever seen anything else.
@@bpb5541I'd rather see people purchasing real estate than Bitcoin. One is a tangible asset, the other is a get rich quick scheme.
We’re not greedy. We have to use real estate to make our income because pay is still shit!! Nurses still don’t make $50 hr and hospitals have stopped pensions.
The problem is that corporations are buying and hoarding homes. It’s an affordability issue when corporations own tons of homes and jack up the prices. It is was simply regular people - we’d be in a completely different situation.
The vast majority of rental homes are owned by mom and pop landlords. So should they have to give up this source of income?
@@steveguillory7568yes, get a real job instead of exploiting people for profit
I love the trees there.
Michael you are making memories with your father , you are both spending quality time together.
my mortgage was good. but now state farm has raised my insurance so much it hurts.
and was told, be grateful, as many lost coverage.
this is for no reason other than a high profit thing.
USA is a F.I.R.E. economy.
Financial services.
Insurance products.
Real
Estate
Prices only go higher as USA currency continues to be debased.
I'm one of the guys that gave up, and I realized I just don't need it, I don't care, I rather be flexible and move easily
Renting is for suckers 😂
@@dantheman6607 really? You are free to move around, you dont have mortgage (if you pay mortgage its literally rent to the bank, check your interest payments) . I dont care for anything that happens to the value of the property, any damages from the use or anything else. Its literally fixed expense... It has its upsides and downsides, OFCOURSE OWNING IS BETTER, but only IF - YOU PAY IT CASH. Otherwise,, meh. And its not liquid asset....
@@tomasbisciak7323That's just loser talk. Especially since you admitted to giving up. Saying meh about not paying in cash , yeah you pay Interest obviously, however you put equity in and if someone that wants to move can use that equity. So be a sucker and pay rent until you're 85 years old still not having a place and getting kicked out by the landlord once your social security isn't cutting it.
@@jonathanguzman1073 you are simple minded, you still can save more , over the amount of the years if you invest money you save in a difference and then just buy straight up.... I can save significantly more monthly , then what would be upkeep + mortgage, and that can be reinvested and that will outperform your equity gain... FML you really dont understand this? YOU STILL PAY RENT TO THE BANK!
Tell the corporations to stay the F out of residential real estate!!
big lobbyists contribute big bucks to your state leaders to ensure the grift will continue.
it's called corruption, and its a human condition.
@@lazydayB2B It's called Judaism....
@@OilTrading
nah.
it's darker than that.
Rockford Illinois is not really an area people have a big desire to live in either. I lived about 50 miles east of Rockford and it sucked there too. Property taxes are ridiculous in Illinois.
I like that you and your dad are hanging out, enjoy these days with him bro. Im at my dad's house right now, he's 72 and I'm 41, just replaced his hot water heater and doing a few other odds and ends repairs for/with him. He wants to help out too but he needs a knee replacement. Just hoping his foot stops swelling so set his bed up to elevate his foot/feet, the other foot started swelling today too, hope it gets better...
Your dad seems really cool too, have a good time! Enjoyed your guys talk.
I knew people from Freeport, once a quaint, pretty town with beautiful and historic home architecture, good neighborhoods, and solid schools. My acquaintances were teachers in the school system there. Many run down areas were "sectioned 8" in the last 20 years and the stress of the crime and social problems that were shipped in from Chicago (to gentrify the city) have brought the town down so much. Its a common story of a dying urban black hole shipping out its problem to the rest of the state. I was in Sycamore in a beautiful neighborhood spot and watched every 40 to 60 seconds garbage haulers going back and forth hauling suburb trash to the pit south of Rockford. Crazy.
to be fair about Rockford, IL, there are not many jobs that can support a middle class lifestyle.
this is true with much of the Midwest...
I pitch for the Kansas City Royals
Federal jobs can, Razzerz. 😇
Isn't Cheap Trick from Rockford?
“Gigalo for hire”…get’r done!
Sadly, it's true for way too many areas in this country. Corporations should not be allowed to buy houses in mass, never mind the problem with illegals also driving up costs.
It's heart-warming to see you with your dad. Dad's everywhere will get that.
Rockford has the highest property tax percentage in the country. When including taxes, it makes houses unaffordable and reduces appreciation. The worst of both worlds.
That's why my house only doubled in exactly 20 years. High tax HOA,it's a good school district and they will be needing new schools around here. Not many good jobs in N/W Ohio.alot of older people iny neighborhood,so old money,the younger ones I have no idea what they do for a living. My hood is mostly 300,000-390,000 my house slightly lower @ 282,000
@dennyfie I live in Rockford, now retired. I grew up in Cincy, but was surprised that Ohio's property tax is fairly high. Government schools are stealing our money and equity. Ohio is a much better state than Illinoy though. Would rather be in your place, even Cleveland😅
At least you have good schools. I had highest property tax in country, with shithole schools. I had to pay more for private school. LMFAO.
You need to be on the government side of the balance sheet to live there.
Exactly. All .guv and union workers here. Sorry I said Cleveland. I worked in Toledo in my early 20s at Nuke plant near Port Clinton. Toledo is similar, but beats Rockford like a drum since in Ohio. I had to move to Illinois in 1990 to get a nuke plant job. Davis Besse was not hiring.
Oh... there's no question. I'll never own a house again unless prices decrease by at least half. It's impossible. And it'll get worse unless congress stops corporations from buying single family units.
Big Corporations own Congress and Biden!!!!😡😡😡😡
@@bovnycccoperalover3579 and Trump. He gave them a $2 tillion dollar tax cut.
In my area my mortgage for a 2300 sf house is less than a 1200 sf rental.
@@wreckinball11oh...I know that area! Idiotsville USA. Hot this time of year. Why even comment?
@@danielfiore8865???
Redfin and Zillow contribute to the housing inflation by "estimating" home values way to high for that feel good effect on homeowners who think their homes are more valuable.
The problem today is people don't own something. It's all about how much is the payment. When you are free from payments one has more options in life. Don't be a slave to debt.
I sacrificed many vacations and worked hard. It's worth it. Look ahead people. God bless!
\I did the same thing for 11 years,worked my ass off,no vacations,no eating out and didn’t buy anything I wanted only things I needed to survive.I paid my house off and it’s wonderful.When I got the deed to the house that said paid in full I actually cried. That day I finally treated myself at a fancy restaurant and it was delicious!!!
I have a friend who thought he wouldn’t make it pass 30, so he overspent the years before. He is 44 today and still struggle with debt.
But at least he had fun, up till 30.
Rockford, IL was the 17th most dangerous city in 2021. It was the 4th most dangerous in the Midwest. There's a reason the houses aren't as expensive as other cities.
The blacks are humble, hardworking and law abiding. We are lucky to have their enrichment!
Earned a sub because of your honesty. Home ownership does not always equal profits and everyone needs to know this.
I love how you address this topic with such honesty.
Two very handsome men walking down a street in Illinois! I'll listen to anything they have to say!
Thugs
in an area where prices went berserk in the last four year. They say my
house went up 200K, Hummm but people were paying that, Not locals
all the outsiders coming with pocket full of money from California and New York.
See some price reductions but really nothing, 5k maybe 10k. People still think
a bargain here. If the outsiders quit and depend on local. Than see probably
100K or more downward, LOL new homes of like size 3/4 of a million or more.
Not regular folks prices
Your dad is spot on with the family point. Friends of ours were trying to adopt. They have a 2 bedroom apartment with 1 son. Adoptions aren't even allowed unless the kid has their own bedroom regardless of gender. It's also part of why we bought a house so our boys can have their own room. Houses are necessary if you have more than 1 kid.
I know a divorced father with several kids and it cost him a small fortune to rent an apartment large enough to be able to legally have his kids with him and then he was just let go from a good job and got a job that pays less, couldn’t afford his apartment, had to move in with his girlfriend and her kids. I don’t think he’s legally allowed to have his kids stay there now. It’s tough being a single parent.
@@melissasmess2773 You have to think about that before having the kids, Melissa. Self-control.
sounds expensive
I’m happy with my custom 40 foot bus that I built it has everything I need and zero payment.
Where do you park it?
@@melissasmess2773 on 8 private acres in Jupiter Farms for $850 total. Full 50 amp electrical service and sewer included. Eventually, I’m going to buy my own off grid piece of land. I want to be on whatever I feel like it. But I like traveling around I don’t like to stay in one place. I’ve design my life this way and I’m so much happier than when I had a static house. I had a beautiful house four bedroom on a cul-de-sac next to a lake in a very desirable town in central Florida with great schools for my children. And I hated my existence. This is a much simpler life and better than being house poor.
@@melissasmess2773 8 acres of private land!
Home prices are still high here in Tucson Arizona. No one seems to care that we are running out of water and it’s getting hotter. If our Children and Grandchildren were not here, we would be gone. 💕🙏🏻😎🌵
Recently passed through Tucson on the way back to Texas. Several Starbucks were shuttered and closed. Looks like Tucson can't afford Starbucks. Sign of the times.
I heard in Tucson houses are being bought for illegal aliens, just like in Rockford IL.
“Can’t Buy Me Love” filmed there in the 80’s. Legendary stuff with Cindy Mancini and Ronald Miller breaking down the stereotypes of innocent youth.
Too hot for me in most of Arizona. The North by Sedona would be OK.
Well explain, This is one of my favorite channel Thanks for breaking it down!! I'm glad I can still smile, I always look up to your video for update.I hit 310k today I am truly grateful for all the knowledge and nuggets you have given me over the past few months. Started with 70k in few weeks, Thanks to Anna Contreras for her helpful guide.
Michael is new school, no kids. Dad is old school, many kids.
What young adult can afford kids? This and this alone is going to cause massive issues going forward.
@@bpb5541 I am sure that Michael can afford them....
@@hansijzermanijzerman3732 Haha, I'm sure he can, but it's a cultural thing I think. Many Americans are just seeing the negatives of having kids these days. Everything is expensive, and it seems the government is hell bent on destroying the American dream, so why would anyone want to bring a child into that situation.
america is making a big mistake with the economic landscape people are not having kids who are going to take care of the elderly why cause you want to over price a simple thing as housing. Government can step in easily but people have to stop spending and let companies put their foot on the government neck but no people are living on consumer debt and lets not talk about phantom debt which does not even show up on statistics
Dad's the best. Hello dad, thank you for being in the channel.
Property taxes going down? I bet the owner(s) hit 65 and got a senior break. Those taxes are RIDICULOUS!
I’m fed up with the entire country. How about that ?
Fed up with biden.
So where are you moving to?
You are not alone .
I moved to Thailand....very good here....
@@OilTrading I should move there when I retire. Could probably live like a king off my 401K in countries like that. Maybe, lol.
I’m not buying for years, the market is a mess
Housing is ridiculously expensive ... renting is high too.
A part of me wants to sell, pack up and head out to live in the woods with sasquatch. He'll probably be better than the lovely neighbors I have.
Good to hear from Dad. Seems like a super guy
You’re so blessed to have your dad. 😔What a sweet relationship you two have, 🥹hug him and enjoy him while he’s with you.
Too cold for me to live in Illinois no matter how affordable the cost of homes.
I enjoy the heat in South Florida.
Plus it would be more expensive to downsize, going anywhere. Especially if you bought a home 10 yrs + ago.
The heat in northern Illinois is actually like Florida today. It's in the low 90's and humid.
Florida is way too expensive, not to mention the insurance costs. Companies have tried to get me to relocated there, but Texas is better for veterans.
@@bonzocleach2496 But the heat in the midwest usually only lasts for a few days at a time. Generally its nothing like where I lived in the Tampa Bay area where it never cools all summer and the A/C runs 24/7.
@@iworkout6912 Yes, I know. I never lived in lived in Florida but visited often. My in-laws lived in Ft Myers and my parents lived in Sebring. It was pretty sticky in the summer.
It brings a smile to my face to see your dad with you ..really enjoyable.
Yes it is Great . I lost my dad when I was 11 and have had a really Rocky Relationship With my son for the last 4 Years , So I can say You Guys are Great .
Not only is housing expensive, condo assessments, taxes and insurance are all a factor. America is going through some rough times. Something’s gotta give.
It will. This is an election year. 😮
It’s really ridiculous!
I live in Rockford, with the highest property tax in the country. Most tax goes to Government schools. The schools are so bad, I had to pay for private schools. It's definitely not "affordable" here, at all.
If the schools get all your taxes, how are they "so bad"? Maybe it's the people in Rockford that make them bad?
LOL. Are you a government school teacher. Only the best in DIE teaching here😂😂
Money doesn't buy good schools here. It's theft, actually.
Blacks are wonderful neighbors!
I live in western NY, 300 miles west of NYC. Our houses have about the same value as Rockford. I live in a small village of nice homes, and my insurance is about 1200 dollars per year. (2024) So it all depends on location, location, location on all the real estate prices, etc. Unfortunately all of us in upstate are lumped in with the high cost of living of New York City. But we all have the same crappy government in Albany.
Michael B's Body Guard says what's up!
I think I heard him say, what happened to your sleeves?
😅😂
Illinois has a massive unfunded pension liability of $211 billion and residents are on the hook for that money and that amount will likely continue to rise.
Current Illinois governor is totally corrupt. Property taxes in Illinois are insane.
So, basically, don't move there or you'll be funding the pensions while your property never appreciates. Got it.
@@DIVISIONINCISION Yup. Even people with pensions from IL move out of state because they don't want to pay those taxes either even though the state pays their pensions. One of my friends moved from Chicago to Colorado and that's one of the things that he cited. He owns his own business and could locate anywhere he wants to.
I’m starting to understand the issues of USA. The states pay pensions!!😮. Not the federal government?
@@amyhudson1016 The Federal Government, states, cities and towns can deal with pensions as employees can work for different levels of government. In many cases, pensions at the city and town levels are managed by the state. Companies can have their own pension plans. Hospitals and universities can have their own pension plans. Mismanagement or greed can result in specific pension plans being underfunded. In some cases, pension plans are overfunded. In some countries, the federal government collects pension revenue, invests it and disburses it. The total underfunded amount is $1.25 trillion in 2019 which may seem like a small number but states can't print money like the federal government can. Federal bailouts are unlikely because it would encourage other states to underfund their pensions to get bailouts.
This is a fun dad series
In CT I was paying $6k in taxes on a house assessed at $100k.
I love seeing your bodyguard with you. ❤
James Bordenaro looks like a good dad protecting his son.
So much respect!
So glad that your dad is walking with you again. Family fitness.
I'm staying put and it still annoys me. If I want to sell and move I stay in a similar home but get to pay commissions and pay more in tax and insurance! win for gov, ins co, agents, and banks not me
I’m paying $250 a month 5 minutes from the beach that includes electricity water and internet in Thailand, why should I come back to that cluster disaster
Exactly. You are livin the dream
Your dad is right, u want your kids to have their own space/room and I also I bought my house for stability, renting someone else’s house is not possible long term, they can decide to sell anytime it’s their house so no stability!! I’m retired now and moved out of the area but lived in that house for 20 years, raised my kids there!!
lot of tax fraud in that state.
How u know? U I FREAKING IRS??
Leftist government there is stupid... lavish pensions where government workers retire obscenely young and get everything paid for, giving out section 8 to people too freely, all this socialist utopian nonsense that doesn't work in a vacuum. Everyone wants something for nothing and the top and bottom suck from the middle.
Love your unique style, never change!
I have noticed that some homeowners are lowering the price of their home by 20,000 to 30,000 dollars where we live. We are living in a very desirable scenic area so if it is happening here, it is probably happening even more in less desirable areas. There have been a lot of purchases in the last five years of small homes that I think were short term vacation rentals. City council is limiting them because we don’t have enough housing for professional staff such as medical professionals and teachers. Now they are back on the market for almost double the price in just a few years. They sometimes make some minor cosmetic improvements but are still too expensive.
Local governments must love these high prices on homes. They are huge beneficiaries with the higher assessed taxes. 🤪
Despite the fact that the dollar is worthless paper and the State prints it by the Trillions to keep their floundering Empire alive for just a few more dystopic years.
Exactly, people are so dumb. Only ones benefiting are banks with interest and governments with taxes.
That's the grift of Illinois. The politicians set it up that way.
@@DIVISIONINCISION Property taxes fund many states and especially localities. So definitely not unique to Illinois.
Talk to local government employees involved with property taxes about moving away from having taxes based on one's property and watch then wail and scream like a cat being tortured
Love those huge yards.
Keeps you busy on the weekends!
IL property taxes are criminal
It’s great to meet your dad, Mike! He seems like a sensible man.
Selling your home to buy another home is a very expensive exercise, you usually sell for less than you want and buy for more than you want to pay plus all of the expenses and taxes.
I’ve BEEN fed up
Yes it's maddening!!!! Expensive in so many places.
Illinois property taxes are insane.😢😢😢😢
Your dad is awesome Mike , looks about my age. Really good episode , I always enjoy them and the knowledge and info you give. 👍
There is no home construction in Illinois due to no profit margin caused by high property taxes. Builders can't charge $400,000 since the property taxes would be $10,00 per year, making it unaffordable. Ridiculous.
There are new homes being built in several subdivisions here in New Lenox, IL right now. They start at $400 grand. I'm sure they will be more expensive when completed. You are correct about the property taxes. My 28 year old brick ranch is just under 10 grand. I don't know where young couples are getting the money.
damn.
NOT TRUE. Depends on WHERE in Illinois. Certainly true in Rockford!
@@treesnmoguls Illinois is a long state, covering length wise half of the country. Chicago is at the upper end of the state. So the state various a lot from one end to the other both in land use and weather.
Oh, it's true compared to states that are desirable and creating jobs. Michael's not walking around the huge national builder sites in this shithole state. They don't exist due to high property taxes.
I can afford a home in the Boise, Idaho area, and I want to buy a home, but there is no way Im buying right now. Im not gonna be some pawn in the game of the people creating this mess. I am waiting for a crash or nothing
yep dont be the bag-holder
Before you leave Belvidere go to Uncle John's and get the steak alaMexicana and eggs 15 bucks beats 2 egg mcmufflers for 16 bucks
Speaking as a south Florida resident, that house and price is beautiful. Incredible they have only appreciated by 40k.
It would cost more to build that house new right now.
I'm in Florida now and my home tripled in value in three years, I lived in Illinois for twenty years and the home didn't make any appreciation after paying property taxes, break even lol
That area has not been plundered by speculators like south Florida. Its seems like everything on the market down here has been flipped 3 times just in the past 2-3 years. But that hot potato will turn into a grenade at some point.
Even people with decent mortgages that they bought decades are being squeezed by other expenses. The maintenance on my one bedroom coop is almost twice my mortgage and will probably be twice that within a year or two. A lot of times I think this is deliberate. A friend of mine told me once that elites control your standard of living. I didn't believe him then but now I am beginning to believe.
Spot on
It's scary what is going on.
The elites can't control your job/career or skills, though. If you earn more money, you can stay ahead of whatever the "elites" decide. It's on you.
100% deliberate
Fight it by storing cash in Bitcoin for a few years
More people are leaving Illinois than moving in. I find it hard to believe that is the “hot” place to live. I don’t even think I’d drive through that state. One of the most corrupt governments outside of Ukraine.
Helped JFK beat Nixon! 🤣
Thank you, Mister Russian Troll.
MEN IN THE USA SAYING THAT THESE DAYS THEY ONLY THINK ABOUT MORTGAGE/RENT, CAR PAYMENTS, INSURANCE AND FOOD INSTEAD OF THINKING ABOUT WOMEN
Why are you yelling
@@raywombat I don't want them to turn gay
True. And I was also surprised how many GenZs feel like working 5 days a week, 8 hours a day is way way way too much.
@@SportsAutodidact lol I know I was just rubbing you 😆
MODERN DAY WOMAN ARE TERRIBLE. CANT EVEN COOK BOILING WATER!!
If they sell, they will have to pay alot for another home to live in
It's great you're visiting with your dad. I miss my parents every day. My dad would have been a hundred years old on June 6. On the morning of his twentieth birthday, he crossed the English Channel in Operation Overloard.
How lucky you are to have your Father...cherish Him ❤
The last point, where they use tax money to buy houses and give them to people that don't want to work, is more than a reason to move out or never live there in the first place.
As far as having a room for each child, that is only part of a divorce decree, not a state law. If you don't have a room for each child and the other parent does they could award more or full custody to that parent.
Love u with your dad. I lost mine to cancer within mths during covid" wish we could done something like this" cherish our good fathers and good men" they help shape our lives & also our economy
Everything seems out of control.
And upside down and inside out.
In the end, its going to hurt so many other markets, because people paying too much for rent or morgage are people not buying as much in retail goods or cars or food.
4:30 Daaammnnn! 36 years of paying 'rent' to a bank/mortgage lender, whomp whomp. To all the folks who mock people in the comments for paying rent..this one is for you. Thanks for sharing the info, Michael.
Don’t give me that junk when you rent you don’t have the freedom to upgrade the freedom to have parties the freedom do what the hell you want the privacy. It’s always better to own
Yep Taxes/insurance
@@ihave35cents95 Don't need to upgrade, the place I'm living in was built in 2023..if I wanna upgrade I'll just move to another brand new apartment in less than a year. Also, paying $500-$1000 less per month than the people who "own" in the same neighborhood, but really they're just paying Rocket Mortgage to "own" their house.
@@travisc8403 to each his own, I hated renting
@@EvySurvived it’s not horrible everywhere my taxes and insurance come to 9000 a year.
Buy stamps- visit the post offices just like your libraries. Love postoffices" there's something about going there - placing a stamp" writing out address/ mailing an actually card" cant replace that "
It's very nice to see your dad walking with you ❤