Man...thank you! Really appreciate the thoughts...I truly appreciate piecing these together...it sounds like a Hallmark card, but it really does mean a lot to see that actual people care, not just the YT algo...
@@michaelmackelviefr though. Im going into UA-cam myself towards the end of the year and your content amazing edits is pretty inspiring 🙏🏽 keep going Brodie!
@@michaelmackelviebrother, your way of putting things together and explaining them out is a piece of art, I don't know why this algorithm doesn't work for you, but I just like many loyal subscribers of your will be waiting for your next video. Amazing video as always.
As someone who made it to 50yo before buying my first home I was smiling during the "popular arguments" and "I'll fix it up" segments...I can't tell you how many times I have had debates, quasi arguments, and just plain lectures on how crazy I have been for not buying a home...back then I would just nod and smile. Of course - when my wife and I had finally found professional happiness and being where we wanted to be geographically (as this was always the plan) we bought a home and wouldn't you know it were immediately asked what upgrades we would be doing (Christmas and birthdays are Home Depot gift cards now) and boy oh boy - don't those conversations about resale start popping up?!? Crazy sometimes how predictable things (we) can be... Found this video catching up on football scores and updates (watched your NFL Draft Video - excellent by the way) and thought I'd check out the channel. Was really happy you weren't some BlackRock feed or trying to quietly push a narrative, or sell me something...honestly your video actually reminded me of how UA-cam used to be, or better yet, should be. I have already forwarded the NFL Draft video to a few friends and have subscribed. "Oddly as I think about this the project that I got the most fulfillment out of ...happened to be this stupid garage floor." Ain't that the truth... All the best!
Wow…what a thoughtful comment. Can’t tell you how much I appreciate reading that! It’s so true…the “needs” continually evolve and we just keep wanting more. The first bathroom remodel I did made the others look outdated…so the others were remodeled. Then I sold…not sure I even got much back (in resale value), and we only had them for about 6 months lol. In a way…you can get caught up in the perpetual motion of just “fixing up”…but you’re chasing something that isn’t really there.
I don’t think I have ever commented on a YT video before but when the quality is incredible, the editing is incredible, the storytelling is incredible, you just have to. Love the economic perspective on a lot of different topics as well. Really quite impressive.
As a lecturer myself, I love the way how you easy down complicated math, while also giving enough data to be believable (and verifiable) so that everyone can follow, no matter the level of education. And all that, while keeping a cozy and calm, very personal feeling within the videos, so I feel like watching an old friend, explaining me something he/she just stumbled across. Very good work!
Just found this channel via the NFL draft video, and I’m blown away. The only comparison I can think of for just how good your content is, is when I saw VSauce for the first time a decade ago. Keep up the good work brother, you’ll be at a million subscribers by 12 months from now if you keep this up (and with a little help from the Algorithm 😉)
Wow...that means a lot man! Seriously, VSauce is a legend...who isn't a fan? I remember stumbling onto his stuff years ago, too, and being just pulled in by his energy and willingness to be weird (well before it was a competition to be cringy in this world...). That complement means a lot, thank you!
you nailed it. First time I saw Michael's video (NBA-related), I thought it felt "VSauce for bball" lol. And then I saw the other videos on the channel including this one. High quality stuff - keep it up Mike!
Incredible content, glad to be a sub before this channel blows up! Keep up the phenomenal work, very inspiring to see such a beautiful body of work as a new content creator trying to figure out the game myself! Thank you for setting the bar high 💯
The level of insight and analysis is beyond amazing. Wonderful job. I couldn't believe it just had a few thumbs up. This channel will blow up my friend.
Commenting now to prove I followed back when you had 11k subs. The rocket is gonna take off soon with this channel. Love the personal content intertwined with the research. 🚀
This was an incredible video that has given me so much to consider. The inclusion of your grandparents home videos was such a beautiful touch, the "In memory" gave me chills at the end. 10/10 needs to be watched by more people
Nice video! I believe the main financial advantage of buying is the leverage. Even if the capital gain returns don’t look impressive 3-5% gain of 2mil is gonna be better than 10% return on your $200k savings
I watched most of the videos you gave on your channel (about 8 at the time of writing it) and I am SHOCKED that you don’t have more subscribers. The thought and time you put into your videos is amazing. It’s rare that you get to watch something so entertaining and feel like you’re learning a thing or two. Please keep making more videos, especially the sports one. I’ll be staying tuned. Thanks!
Wow. I did not expect to tear up at the end of this video about renting vs buying. You are an absolutely magnificent content creator Michael. You have such an eloquent, concise and poetic way of breaking down analytical concepts that to many would be otherwise inaccessible or too dry. Your lovely deep voice and laid back sense of humor are cherries on top of this content, which should be a model for all other content creators. 🙏🙏🙏😊
Thank you! Reading this means so much…because I teared up watching it because it’s my family. I have thought about how telling it is that we can feel through others stories, and wondered if some might feel something from this one. Thank you for the kind words and thoughts…
Great video. I live in an area near a military base, with a very transient population. My wife and I never intended to live here forever, and we were priced out of the rental market. We could only afford to buy here funny enough. Post pandemic, the housing market has caught up, and we wouldn’t have been able to buy had we waited two more years. It’s crazy how much timing and location plays into it. As far as happiness, gardening is the hobby that brings me the most happiness; however, we moved into a fixer upper, so most of my time has been spent working on the house instead of gardening. I can say I am much less emotionally happy with two times the space and a yard, only because I have to constantly work on things and look at things that I have to pay to fix. If I moved into a turnkey house, I’m sure I’d be happier and could work in my garden, but having the maintenance without the enjoyment is rough.
I'm so happy to have found this channel. I really appreciated the inclusion of your grandparents' story. It's clear they did not see the size of their estate as their life's fulfillment.
This is one of the best videos I’ve seen in a long, long time. I loved the statistics, and story and just wanted you to know how much it was thoroughly enjoyed.
You’re an incredible storyteller Michael. I’ve watched a bunch of your NBA videos (all incredible), but this one was really special, and came to me at just the right time in my life. Keep going, you’ve got a lot of true fans. 👊
Your message and direction got lost in the sauce a bit.. a little too much meandering in your videos. But otherwise you're obviously going to be huge if you keep this quality up. Your editing skills are top notch and you seem to really care about the content. Subbed & awaiting more in the future!
Great video! I saw your "The World is Teaching America How to Play Basketball " and checked out your channel, which was definitely worth it. Although I agree with your that home ownership is not the answer and will not bring happiness, I miss 2 topic, for which I would be happy to hear your opinion: 1. Security/safety - have a home, although you do not own it in the first 30 year, is an asset that gives some kind of security. Even if you have to sell the house before it's paid off, you would still have some of the money back. With renting, they're just inevitably and irreversibly lost. Buying a house "forces" many people to "invest" in it, because lets be honest, a minority of the people which rent won't save or invest their money in any other way, and will spend it for useless things, and when they get old, they won't have some money to rely on. And as we know, of the main rules of financial (and literal physical) freedom is money. A big part of what shows our value as a person is money - how you're dressed, where you live, what car do you drive, what do you eat, what hobbies do you have, etc. I hate it, don't get me wrong, but the amount of times I see money being a huge part of our identity and life, I cannot disregard it like that. And rent does not give you security - neither does ownership, but renting is way worse. 2. Mortgage to price ratio causes - I'm sure you're aware the reason for this increase is caused by companies with a looot of money buying out properties and then renting, just so they can invest their money, and afford to offer a lucrative rent. We all read the stories of Chinese companies laundering money by buying properties in Canada, which is one of the reason for their housing crisis.
This is incredible, love the video. Well made, very great explanations and visualization. I was extremely surprised by the view count. You deserve like 100 times more, minimum
Please please please keep the content coming. It’s only a matter of time until you’re on the trending page right next to Johnny Harris - you’re a beast
I have rented you 23:37 minutes of my time in return I have gained a story and a message that will probably stay me with far longer than half an hour. Great storytelling, great edits
Your content is some of the best I have ever seen before, top end quality with very interesting topics for each video. You are going that extra mile and answering questions that are so unique yet also so important. I can only imagine how much time goes into making these videos, but one thing is for sure, you need to keep uploading content like this because it will pay off and before you know it your following will absolutely skyrocket. I appreciate what your doing, keep up the amazing work.
Love your videos man. Watched the draft video and thought “oh cool a new football channel, let’s see what other nfl insights he’s got” haha. Was pleasantly surprised to see the variety of content. Excited to see what you got coming up in the future. This one was excellent and also (most importantly) made me feel better about still renting.
Great video. My thoughts are as a homeowner in my mid 50s whos paid off the mortgage. My pension wont be huge when i retire at 62. It will be enough for me to not worry about having a car and a holiday 2x a year. Now, imagine half of my pension has to go to renting, oooopsie. I would have to downsize and lead a very frugal existence and be at the mercy of landlord price hikes annually.
I think long term renting will almost always turn out worse than buying predominately due to people being bad a investing the extra money they could through renting and being forced into developing the home equity through buying. HOWEVER, as you pointed out people are staying in place way less often and I think a great many homebuyers are going to be in a terrible situation in the coming years because of how much recency bias in the market has been crammed down their throats. I’ve comment on how its cheaper to rent right now and have people responding “where?” When the answer is most of the country it shows how people really aren’t looking at the actual markets and are stuck in their own little world.
Interest rates are surely the biggest reason for this jump (on top of the COVID buying madness). If I were to refinance my house at what I paid for it 3 years ago my mortgage would nearly double even if the price of the house was the same. Which kind of leads into a correction I have. At 9:50 you state that someone living in their house for only 15 years isn't deep enough into their amortization schedule to make it worth it. But with cost of money being so high its actually sometimes advisable to refinance 15 years in so you can get back to paying only interest and pull all your principal back out (especially if rates drop while owning). You are much better off paying only interest and being as leveraged as possible when rates are below 4% as that money is going to earn much more than 4% in the stock market. The reason ownership takes awhile to "pay off" is the cost of transacting real estate (realtor fees closing costs etc) is so high, as to realize your gains you'd need to pay nearly 10% of the property price in a buy/sell cycle. It has little to do with loan schedules.
1. As someone who has refi’d a few times, a cash out is far more expensive in either cost or loan rate (different than a term refi). I looked at doing in 2020 and it didn’t make sense compared to just a rate refi (i absolutely would have if it wasn’t as expensive). A cash out refi gets into a whole new opportunity cost question - why not just sell if you need the money? 2. Not sure where your 4% assumption comes from on the stock market? Seems strange. 3. Your statement “it has little to do with loan schedules” contradicts the statement in your first paragraph…significantly…and is incorrect. Loan rates are the biggest fluid variable over time…
I have loved your videos , your editing style is something I wish I could do. If you have tips on how I can learn this style I'd appreciate. Keep up the good work
Man, I beg you to optimize the thumbnail/title so that this video gets as many views as some of your others (currently 14k). I loved the NBA and NFL videos, but this really was a masterpiece that touched my heart. More people deserve to experience this! You've got such a rare breadth of aptitudes: analytics, creative production, story telling, empathy, and more--I'm sure all of which have come with much effort, setbacks, and dedication... but you've also got some natural, God-given abilities. Much love brother. I hope you enjoy a full and satisfying life, no matter what challenges and opportunities come your way! And may you continue to use your talents to change the world as we know it!
I considered my real estate taxes and interest payments as rent. I considered my principal repayment as savings. I considered my income tax reduction as income. My insurance costs were about the same, but for better coverage. I also replaced my 17.5 hr/wk (and its expenses) with a 1.25 hr/wk commute and a very enjoyable part time job making music. Ten years in it's been great.
@@michaelmackelvie I really don’t get it. My guess is that either your channel hasn’t crossed some kind of threshold yet, or maybe b) this video is being suppressed for some reason. I have no idea. But yes I really enjoyed it! I’ve been chewing on it all day since watching it. I really hope it takes off so you can keep making more videos. I think I get why people use Patreon now.
@@brydenoflaherty724 @hedwardd right now the average watch time and CTR is the highest of any of my videos...YT just isn't pushing it out, might as well switch up the thumb & title. Side note - I really appreciation the thoughts and kind words...seriously...it makes a big difference when you have poured two months of weekends/late nights/early mornings on something. Thank you.
I have been saying for a long time that if it wasn't for the government writing blank checks in education, college wouldn't be so expensive. You should do a video on it.
Hey Michael, Really enjoy your content. I think the channel is very underrated and the quality you put out is insane. Its also very rare to see another yt channel that doesn't really have a niche. I have a podcast and it's absolutely a struggle to get an audience when you invite random guests that interest you. Anyways, just wanted to say, keep up the good work! Ps, your email that you have in your "about" section doesn't seem to work.
@@michaelmackelvie The way I see it. We found out who our real friends are. Had a very similar story to yours with Lake Chelan instead of Coeur D’Alene. That really hit home for me.
This video needs to be seen by more people. Both parents are boomers and I’m 25 in a completely different situation where I’m met with the anecdotes of how home ownership has been extraordinarily beneficial. One thing I would’ve liked your thoughts on is the value of leverage and using your mortgage as a way to unlock the opportunity to get outsized returns. Especially since most people wouldn’t think to trade on leverage in the stock market or access a loan to invest in a business. Great video as always! I found it bc of basketball content, but I’ve been watching through the rest of your other videos. All are excellent
Great video Mac! How much do you think the changes in tax laws has impacted home ownership? With the large standard deduction the benefits of deducting home interest and property taxes is less impactful to the bottom line.
What you have said is technically correct. However, what I have observed is that property ownership serves as a forced savings plan. Many people reach the end of their working lives with their home as their primary asset. Yes they could have rented and then invested the difference and had a better financial outcome, but few actually do this and, as a result, end up with very little.
Masterclass on how when an idea is ubiquitous, it’s time to question it. We haven’t bought yet and probably never will, despite being 2 MD’s. It’s super personal, cuz we haven’t found the city/state/country that we want to settle down in. It might never happen. But we almost pulled the trigger cuz we got caught in the excitement and the dreams that society tells you you’re supposed to have. Thank god the house had lead and we had a baby at the time. Freedom of renting seems for us. I jus my feel bad for people we know who bought immediately and are now stuck.
Really appreciate that man! I am working with my current employer to make it an approved business so I can be compensated. Hopefully happens soon…but either way, appreciated!
I was just mesmerized by your oration. 👏🏽 Can you share some tips? On the content itself, I find it difficult to believe that something as straightforward as this finding isn't caught on by the NBA. Teams now have access to advanced video software that generates so many data points with chief data officers on board to study and analyze this data. Is this a correlation vs causation scenario? Are there any other variables at play here? Shorter international camps, perhaps?
So true. Unless you have enough cash to pay a mortgage off in a decade or so owning just is not worth it anymore. Maintenance and the constant drumbeat of upgrades are insane. Just not worth it.
You didn't mention the largest influence on mortgage payments interest rate. My mortgage payment is about 25% less than what rent would cost me. My interest rate is 2.2%. If my interest rate was 6% my guess is my payment would be 25% more than rent would be for an equivalent home. In fact when I refinanced in 2020 my interest went from 5.x% to 2.2, and my payment was cut in half plus I took a little bit of money out.
comparing current market purchase rates (losers) to cheaper rents that locked in lower mortgages years ago (winners). There are discrepancies within the markets - winners and losers - as the market has changed so quickly over the past few years, discrepancies have widened.
Not so fun fact: because land rents were so low, slaves were brought in to work the land. When land rents are high, there's no need for slaves, because landowners can charge people for access to land. You should read Henry George's "Progress and Poverty." It's *the* tome for understanding the land problem.
Built my home in 2020 and locked in a 2.1% 30 year. Government spending got out of control and shows no signs of stopping. I knew it was now or never and was right. Mass inflation has killed everything.
I love how it's just muh govt and not neoliberal global capital getting us to this moment. Ofc libs are allergic to true historical and material analysis, so this is the shit they come up w. Econ is full of bs tho, praxeology, supply-side
You have to own something. If sht goes bad, you have a place to go back to. Just like your parent’s house for many people in the last. I was convinced to buy when my mom said: if you find a better job in other city, don’t like the house, or etc. you can always rent it and keep making money on it.
Dude if you ever lack the motivation to continue to create, come back to this comment. We will always be here to watch. Thank you for all the effort.
Man...thank you! Really appreciate the thoughts...I truly appreciate piecing these together...it sounds like a Hallmark card, but it really does mean a lot to see that actual people care, not just the YT algo...
@@michaelmackelviefr though. Im going into UA-cam myself towards the end of the year and your content amazing edits is pretty inspiring 🙏🏽 keep going Brodie!
@@michaelmackelviebrother, your way of putting things together and explaining them out is a piece of art, I don't know why this algorithm doesn't work for you, but I just like many loyal subscribers of your will be waiting for your next video. Amazing video as always.
Phenomenal job as always. This is a criminally underrated channel.
Thank you Jonathan! Appreciate that…
It really is. Insanely good quality
Hey points out way too much truth for the “algos” to spread his channel
This is so true and it's not even close.
Just found this channel today....I can't get enough!
As someone who made it to 50yo before buying my first home I was smiling during the "popular arguments" and "I'll fix it up" segments...I can't tell you how many times I have had debates, quasi arguments, and just plain lectures on how crazy I have been for not buying a home...back then I would just nod and smile.
Of course - when my wife and I had finally found professional happiness and being where we wanted to be geographically (as this was always the plan) we bought a home and wouldn't you know it were immediately asked what upgrades we would be doing (Christmas and birthdays are Home Depot gift cards now) and boy oh boy - don't those conversations about resale start popping up?!? Crazy sometimes how predictable things (we) can be...
Found this video catching up on football scores and updates (watched your NFL Draft Video - excellent by the way) and thought I'd check out the channel. Was really happy you weren't some BlackRock feed or trying to quietly push a narrative, or sell me something...honestly your video actually reminded me of how UA-cam used to be, or better yet, should be. I have already forwarded the NFL Draft video to a few friends and have subscribed.
"Oddly as I think about this the project that I got the most fulfillment out of ...happened to be this stupid garage floor." Ain't that the truth...
All the best!
Wow…what a thoughtful comment. Can’t tell you how much I appreciate reading that! It’s so true…the “needs” continually evolve and we just keep wanting more. The first bathroom remodel I did made the others look outdated…so the others were remodeled. Then I sold…not sure I even got much back (in resale value), and we only had them for about 6 months lol.
In a way…you can get caught up in the perpetual motion of just “fixing up”…but you’re chasing something that isn’t really there.
I don’t think I have ever commented on a YT video before but when the quality is incredible, the editing is incredible, the storytelling is incredible, you just have to. Love the economic perspective on a lot of different topics as well. Really quite impressive.
Thanks man...I really appreciate that. This was a journey and the largest project I have taken on, and comments like this mean a lot. Thank you.
As a lecturer myself, I love the way how you easy down complicated math, while also giving enough data to be believable (and verifiable) so that everyone can follow, no matter the level of education. And all that, while keeping a cozy and calm, very personal feeling within the videos, so I feel like watching an old friend, explaining me something he/she just stumbled across. Very good work!
Thank you! A lot of effort went into this one…and it meant a lot because it’s a story about my family. Thanks again…
Just found this channel via the NFL draft video, and I’m blown away. The only comparison I can think of for just how good your content is, is when I saw VSauce for the first time a decade ago.
Keep up the good work brother, you’ll be at a million subscribers by 12 months from now if you keep this up (and with a little help from the Algorithm 😉)
Wow...that means a lot man! Seriously, VSauce is a legend...who isn't a fan? I remember stumbling onto his stuff years ago, too, and being just pulled in by his energy and willingness to be weird (well before it was a competition to be cringy in this world...).
That complement means a lot, thank you!
you nailed it. First time I saw Michael's video (NBA-related), I thought it felt "VSauce for bball" lol. And then I saw the other videos on the channel including this one.
High quality stuff - keep it up Mike!
Incredible content, glad to be a sub before this channel blows up! Keep up the phenomenal work, very inspiring to see such a beautiful body of work as a new content creator trying to figure out the game myself! Thank you for setting the bar high 💯
Thank you! Appreciate that...
The level of insight and analysis is beyond amazing. Wonderful job. I couldn't believe it just had a few thumbs up. This channel will blow up my friend.
Commenting now to prove I followed back when you had 11k subs. The rocket is gonna take off soon with this channel. Love the personal content intertwined with the research. 🚀
same!
This was an incredible video that has given me so much to consider. The inclusion of your grandparents home videos was such a beautiful touch, the "In memory" gave me chills at the end. 10/10 needs to be watched by more people
I rarely comment on UA-cam but wanted to say what an incredible storyteller you are. Keep it up man.
Your videos are so interesting and engaging. Please keep producing them.
Nice video! I believe the main financial advantage of buying is the leverage. Even if the capital gain returns don’t look impressive 3-5% gain of 2mil is gonna be better than 10% return on your $200k savings
The quality of these videos is insane. I stumbled upon ur channel and now I have ended up watching three videos in a row already. Great job
Thanks Michael! Appreciate that...this was my biggest project yet, so hearing these comments means a lot.
@@michaelmackelviegonna watch probably most
I watched most of the videos you gave on your channel (about 8 at the time of writing it) and I am SHOCKED that you don’t have more subscribers.
The thought and time you put into your videos is amazing. It’s rare that you get to watch something so entertaining and feel like you’re learning a thing or two. Please keep making more videos, especially the sports one. I’ll be staying tuned. Thanks!
Wow. I did not expect to tear up at the end of this video about renting vs buying. You are an absolutely magnificent content creator Michael. You have such an eloquent, concise and poetic way of breaking down analytical concepts that to many would be otherwise inaccessible or too dry. Your lovely deep voice and laid back sense of humor are cherries on top of this content, which should be a model for all other content creators. 🙏🙏🙏😊
Thank you! Reading this means so much…because I teared up watching it because it’s my family. I have thought about how telling it is that we can feel through others stories, and wondered if some might feel something from this one. Thank you for the kind words and thoughts…
Great video.
I live in an area near a military base, with a very transient population. My wife and I never intended to live here forever, and we were priced out of the rental market. We could only afford to buy here funny enough. Post pandemic, the housing market has caught up, and we wouldn’t have been able to buy had we waited two more years. It’s crazy how much timing and location plays into it.
As far as happiness, gardening is the hobby that brings me the most happiness; however, we moved into a fixer upper, so most of my time has been spent working on the house instead of gardening. I can say I am much less emotionally happy with two times the space and a yard, only because I have to constantly work on things and look at things that I have to pay to fix. If I moved into a turnkey house, I’m sure I’d be happier and could work in my garden, but having the maintenance without the enjoyment is rough.
I'm so happy to have found this channel. I really appreciated the inclusion of your grandparents' story. It's clear they did not see the size of their estate as their life's fulfillment.
youve literally become my favorite youtube channel in 1 day. keep it up man! you can really tell a story in detail that is easy to understand.
This is one of the best videos I’ve seen in a long, long time.
I loved the statistics, and story and just wanted you to know how much it was thoroughly enjoyed.
Thank you Alex! Much appreciated…
You’re an incredible storyteller Michael. I’ve watched a bunch of your NBA videos (all incredible), but this one was really special, and came to me at just the right time in my life. Keep going, you’ve got a lot of true fans. 👊
Can proudly say I was here before 10k subscribers, catch me commenting this in the future when you have 10 mil
These comments mean a lot…seriously, thank you!
Keep making videos like this with this production Value and you’ll get mad views in no time.
Thanks Jack! This was the most time I have spent with production, and definitely the most complicated video we have done yet...appreciate it.
This is some top quality content. Hope you get the exposure you deserve. Quite underrated. Keep it up! 💪
Thank you! Was a lot of work, but excited to finally get it out there.
Your message and direction got lost in the sauce a bit.. a little too much meandering in your videos. But otherwise you're obviously going to be huge if you keep this quality up. Your editing skills are top notch and you seem to really care about the content. Subbed & awaiting more in the future!
Helpful feedback, appreciate the thoughts, and sub. Thank you!
This content is incredible. You’re gonna get a million subs within the year, this quality is absolutely top tear. Bravo
Great video! I saw your "The World is Teaching America How to Play Basketball " and checked out your channel, which was definitely worth it.
Although I agree with your that home ownership is not the answer and will not bring happiness, I miss 2 topic, for which I would be happy to hear your opinion:
1. Security/safety - have a home, although you do not own it in the first 30 year, is an asset that gives some kind of security. Even if you have to sell the house before it's paid off, you would still have some of the money back. With renting, they're just inevitably and irreversibly lost. Buying a house "forces" many people to "invest" in it, because lets be honest, a minority of the people which rent won't save or invest their money in any other way, and will spend it for useless things, and when they get old, they won't have some money to rely on. And as we know, of the main rules of financial (and literal physical) freedom is money. A big part of what shows our value as a person is money - how you're dressed, where you live, what car do you drive, what do you eat, what hobbies do you have, etc. I hate it, don't get me wrong, but the amount of times I see money being a huge part of our identity and life, I cannot disregard it like that. And rent does not give you security - neither does ownership, but renting is way worse.
2. Mortgage to price ratio causes - I'm sure you're aware the reason for this increase is caused by companies with a looot of money buying out properties and then renting, just so they can invest their money, and afford to offer a lucrative rent. We all read the stories of Chinese companies laundering money by buying properties in Canada, which is one of the reason for their housing crisis.
This channel is going to blow up and all your hard work is going to be worth it
This is incredible, love the video. Well made, very great explanations and visualization. I was extremely surprised by the view count. You deserve like 100 times more, minimum
Man you make such powerful content from owning a home to NFL drafting to basketball -- really happy the algorithm sent me here
Spectacular content. Incredibly and soulfully well presented 🙏🏼
Thanks Chuck! This was my biggest project yet…but was an adventure. Glad others can take something from it as well…
Wow...how do you not have a million subs? Beautiful video
Please please please keep the content coming. It’s only a matter of time until you’re on the trending page right next to Johnny Harris - you’re a beast
thanks Preston...really appreciate that man!
Informative and heartfelt video. I really appreciate your storytelling skills!
Thank you Josiah!
I have rented you 23:37 minutes of my time in return I have gained a story and a message that will probably stay me with far longer than half an hour. Great storytelling, great edits
Thank you!
Your content is some of the best I have ever seen before, top end quality with very interesting topics for each video. You are going that extra mile and answering questions that are so unique yet also so important. I can only imagine how much time goes into making these videos, but one thing is for sure, you need to keep uploading content like this because it will pay off and before you know it your following will absolutely skyrocket. I appreciate what your doing, keep up the amazing work.
Thank you so much! It's virtually all of my free time at the moment, but comments like this really do mean a lot. Seriously. Thank you
Your work deserves to blow up like the buying market. Love it all!!!
Really informative, fun, and beautiful. Loved the anecdotes about your family sprinkled in
Wow, incredible content my man. An important reminder about what’s really important in life. Art and Jane would be proud 🙏
Means a lot…thank you! They were great people…
Love your videos man. Watched the draft video and thought “oh cool a new football channel, let’s see what other nfl insights he’s got” haha. Was pleasantly surprised to see the variety of content. Excited to see what you got coming up in the future. This one was excellent and also (most importantly) made me feel better about still renting.
This channel is gonna blow up. Mark my words
Great video. My thoughts are as a homeowner in my mid 50s whos paid off the mortgage. My pension wont be huge when i retire at 62. It will be enough for me to not worry about having a car and a holiday 2x a year. Now, imagine half of my pension has to go to renting, oooopsie. I would have to downsize and lead a very frugal existence and be at the mercy of landlord price hikes annually.
Man, I was gonna use this video as background noise while working... and I got totally hooked and couldn't get shit done, great channel!
I think long term renting will almost always turn out worse than buying predominately due to people being bad a investing the extra money they could through renting and being forced into developing the home equity through buying.
HOWEVER, as you pointed out people are staying in place way less often and I think a great many homebuyers are going to be in a terrible situation in the coming years because of how much recency bias in the market has been crammed down their throats.
I’ve comment on how its cheaper to rent right now and have people responding “where?” When the answer is most of the country it shows how people really aren’t looking at the actual markets and are stuck in their own little world.
Dude, you’re videos are next level!
Take pride in what you have created
Here before he hits 1 million, the best content on youTube without a doubt.
Thank you!
Your sports videos captivated me, now i am here watching the rest of your videos! Amazing job! Keep it up and 1M subs is around the corner 💪
UA-cam should be press charged for suppressing this channel, it's algorithm sucks, why don't it promote this channel at all?
How does this video only have 7k views? Honestly criminal it doesn't have more
this channel is awesome, great job on the video. i love the way you look at stats and break down the math
Thank you! Much appreciated.
Your NBA content is how I found your channel, but i hope you keep it up with this type of stuff
Dude you're awesome! Love the analysis and the deep touch on history/family. Big fan
Interest rates are surely the biggest reason for this jump (on top of the COVID buying madness). If I were to refinance my house at what I paid for it 3 years ago my mortgage would nearly double even if the price of the house was the same.
Which kind of leads into a correction I have. At 9:50 you state that someone living in their house for only 15 years isn't deep enough into their amortization schedule to make it worth it. But with cost of money being so high its actually sometimes advisable to refinance 15 years in so you can get back to paying only interest and pull all your principal back out (especially if rates drop while owning). You are much better off paying only interest and being as leveraged as possible when rates are below 4% as that money is going to earn much more than 4% in the stock market. The reason ownership takes awhile to "pay off" is the cost of transacting real estate (realtor fees closing costs etc) is so high, as to realize your gains you'd need to pay nearly 10% of the property price in a buy/sell cycle. It has little to do with loan schedules.
1. As someone who has refi’d a few times, a cash out is far more expensive in either cost or loan rate (different than a term refi). I looked at doing in 2020 and it didn’t make sense compared to just a rate refi (i absolutely would have if it wasn’t as expensive). A cash out refi gets into a whole new opportunity cost question - why not just sell if you need the money?
2. Not sure where your 4% assumption comes from on the stock market? Seems strange.
3. Your statement “it has little to do with loan schedules” contradicts the statement in your first paragraph…significantly…and is incorrect. Loan rates are the biggest fluid variable over time…
I have loved your videos , your editing style is something I wish I could do. If you have tips on how I can learn this style I'd appreciate. Keep up the good work
Man, I beg you to optimize the thumbnail/title so that this video gets as many views as some of your others (currently 14k). I loved the NBA and NFL videos, but this really was a masterpiece that touched my heart. More people deserve to experience this!
You've got such a rare breadth of aptitudes: analytics, creative production, story telling, empathy, and more--I'm sure all of which have come with much effort, setbacks, and dedication... but you've also got some natural, God-given abilities.
Much love brother. I hope you enjoy a full and satisfying life, no matter what challenges and opportunities come your way! And may you continue to use your talents to change the world as we know it!
Thanks Zach, really appreciate that! Ya we might have to switch up the thumb…
Your exploration of problems we can see but can not articulate is unrivaled
Thank you! That means a lot…appreciate it.
Great video, Mac! Loved the personal touch. If/when I do buy a home, it will be a tiny one. Btw, where’d the college videos go?
Checking on this...thank you.
What a video. Just phenomenal, thank you
I considered my real estate taxes and interest payments as rent. I considered my principal repayment as savings. I considered my income tax reduction as income. My insurance costs were about the same, but for better coverage. I also replaced my 17.5 hr/wk (and its expenses) with a 1.25 hr/wk commute and a very enjoyable part time job making music. Ten years in it's been great.
10/10 - wish I could subscribe more than once. I love the range of video subjects!
Thanks Isaac! Really appreciate that...means a lot.
These videos are so much better than the amount of views they get.
Over 24 hours have passed since this was uploaded and it only has 374 views and 12 comments. Nothing makes sense anymore.
Lol...if you figure out the UA-cam algo let me know. Appreciate the thought though, and hope you were able to take away something from the video.
@@michaelmackelvie I really don’t get it. My guess is that either your channel hasn’t crossed some kind of threshold yet, or maybe b) this video is being suppressed for some reason. I have no idea.
But yes I really enjoyed it! I’ve been chewing on it all day since watching it. I really hope it takes off so you can keep making more videos. I think I get why people use Patreon now.
What do you think about changing the title to “Should you Rent or Buy?”, sneak a great video/story behind a question with a higher CTR
*”Should You Rent Or Buy A House?”
@@brydenoflaherty724 @hedwardd right now the average watch time and CTR is the highest of any of my videos...YT just isn't pushing it out, might as well switch up the thumb & title.
Side note - I really appreciation the thoughts and kind words...seriously...it makes a big difference when you have poured two months of weekends/late nights/early mornings on something. Thank you.
Wow, this came up in my recommendations, so glad it did!
Oh, and I subscribed at 9.66k … going along for the ride!
haha thank you! Appreciate that man...glad to have you along for the ride...@@sethtenrec
I have been saying for a long time that if it wasn't for the government writing blank checks in education, college wouldn't be so expensive. You should do a video on it.
It's undoubtedly a big contributor...yes....similar to real estate in that way.
We are all renters on this planet with the time we are given.
I almost never comment on youtube vidoes but this was amazing. absolutely top tier content. thank you and keep up the good work
Kev…thank you! Means a lot. Seriously, appreciate the kind words.
Wish these masterpieces got more attention
Thank you Carson! Enjoying it so far...
Dude, this channel is awesome
Hey Michael, Really enjoy your content. I think the channel is very underrated and the quality you put out is insane. Its also very rare to see another yt channel that doesn't really have a niche. I have a podcast and it's absolutely a struggle to get an audience when you invite random guests that interest you. Anyways, just wanted to say, keep up the good work!
Ps, your email that you have in your "about" section doesn't seem to work.
Amazing content, sir. I wish you the best of luck!
Just discovered your channel today. Loving all the different areas you are showing data for.
Go Cougs!
Dude let’s go! Cougs are in a tough spot, but we bouncin back!
@@michaelmackelvie The way I see it. We found out who our real friends are. Had a very similar story to yours with Lake Chelan instead of Coeur D’Alene. That really hit home for me.
This Channel is incredible. Keep going!
This video needs to be seen by more people. Both parents are boomers and I’m 25 in a completely different situation where I’m met with the anecdotes of how home ownership has been extraordinarily beneficial.
One thing I would’ve liked your thoughts on is the value of leverage and using your mortgage as a way to unlock the opportunity to get outsized returns. Especially since most people wouldn’t think to trade on leverage in the stock market or access a loan to invest in a business.
Great video as always! I found it bc of basketball content, but I’ve been watching through the rest of your other videos. All are excellent
Why do I wanna cry over a rent or buy vidéo. Terrific job
Great video Mac! How much do you think the changes in tax laws has impacted home ownership? With the large standard deduction the benefits of deducting home interest and property taxes is less impactful to the bottom line.
You should do a video on gold and whether it's a good investment. Silver also.
What you have said is technically correct. However, what I have observed is that property ownership serves as a forced savings plan. Many people reach the end of their working lives with their home as their primary asset. Yes they could have rented and then invested the difference and had a better financial outcome, but few actually do this and, as a result, end up with very little.
This is why I referenced the behavioral aspects and "forced savings" in the video.
Love the story arc and personal touch on this one!
One of the best chanels on YT.
Price-to-rent ratios on the West Coast: 30 to 50
Price-to-rent ratios in the Central US: 10 to 20
Masterclass on how when an idea is ubiquitous, it’s time to question it. We haven’t bought yet and probably never will, despite being 2 MD’s. It’s super personal, cuz we haven’t found the city/state/country that we want to settle down in. It might never happen. But we almost pulled the trigger cuz we got caught in the excitement and the dreams that society tells you you’re supposed to have. Thank god the house had lead and we had a baby at the time. Freedom of renting seems for us. I jus my feel bad for people we know who bought immediately and are now stuck.
You should add a "Thanks" option so I could buy you coffee. For this excellent vid + the NBA ones.
Really appreciate that man! I am working with my current employer to make it an approved business so I can be compensated. Hopefully happens soon…but either way, appreciated!
I was just mesmerized by your oration. 👏🏽 Can you share some tips?
On the content itself, I find it difficult to believe that something as straightforward as this finding isn't caught on by the NBA. Teams now have access to advanced video software that generates so many data points with chief data officers on board to study and analyze this data.
Is this a correlation vs causation scenario? Are there any other variables at play here? Shorter international camps, perhaps?
I just subbed and I can’t get enough
Thank you!
So true. Unless you have enough cash to pay a mortgage off in a decade or so owning just is not worth it anymore. Maintenance and the constant drumbeat of upgrades are insane. Just not worth it.
You didn't mention the largest influence on mortgage payments interest rate. My mortgage payment is about 25% less than what rent would cost me. My interest rate is 2.2%. If my interest rate was 6% my guess is my payment would be 25% more than rent would be for an equivalent home. In fact when I refinanced in 2020 my interest went from 5.x% to 2.2, and my payment was cut in half plus I took a little bit of money out.
Beautiful grandparents!
Yes they were! Even better people…
Insane effort into these videos
Yes…but enjoy piecing together with the hope that it will facilitate a more enjoyable learning experience/story.
Simply a masterpiece
what a great video. Thank you so much
Gotta keep making content!
We rollin
Keep those videos coming..Fun and educational at the same time..
comparing current market purchase rates (losers) to cheaper rents that locked in lower mortgages years ago (winners). There are discrepancies within the markets - winners and losers - as the market has changed so quickly over the past few years, discrepancies have widened.
As a Canadian, this video doesn't surprise me. Almost every city here has the same discrepancy.
Yes...I have heard this. Ben Felix has spoken of it on his UA-cam channel...
Not so fun fact: because land rents were so low, slaves were brought in to work the land. When land rents are high, there's no need for slaves, because landowners can charge people for access to land.
You should read Henry George's "Progress and Poverty." It's *the* tome for understanding the land problem.
amazing video
Built my home in 2020 and locked in a 2.1% 30 year. Government spending got out of control and shows no signs of stopping. I knew it was now or never and was right. Mass inflation has killed everything.
I love how it's just muh govt and not neoliberal global capital getting us to this moment.
Ofc libs are allergic to true historical and material analysis, so this is the shit they come up w.
Econ is full of bs tho, praxeology, supply-side
great vid 👌
You have to own something. If sht goes bad, you have a place to go back to. Just like your parent’s house for many people in the last.
I was convinced to buy when my mom said: if you find a better job in other city, don’t like the house, or etc. you can always rent it and keep making money on it.
Awesome man....keep making