"We Have A Lot Of FAKE Millionaires!"- Reaction To U.S. Housing Market Losing $2.3 Trillion In Value
Вставка
- Опубліковано 8 вер 2024
- In this short clip, Patrick Bet-David, Adam Sosnick, Vincent Oshana and Tom Ellsworth react to the U.S. housing market losing $2.3 trillion in value.
FaceTime or Ask Patrick any questions on minnect.com/
Watch the full podcast here: ua-cam.com/users/li...
Subscribe to our channel: bit.ly/2aPEwD4
To reach the Valuetainment team, you can email: info@valuetainment.com
Love your straightforwardness in the manner you show us the mix-ups as well as the triumphs. Your posts are genuinely uplifting, showing us all the significance of profit investing...my prompt for students is to assemble here and get an enduring answer for their effective financial planning nightmares...no information is a waste.
The ups and downs can be hard to stomach at times but in all my years of investing, my investments have always Increased in value despite several downturns. Be encouraged!..
This is the problem! Most times people with little or no knowledge of the stock market try investing by themselves. Just because there are opportunities in the market doesn’t mean you should go in blindly. To understand the potential factors that contribute to your financial growth, I'll advise you to seek the help of a professional investment coach
That is astounding. Where can I find this Advisor? I have to profit from the market's decline..
''ELEANOR ANNETTE ECKHAUS'' is the financial advisor that helps me. She has a large following and is easily found online. She has extensive understanding of the financial markets.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé...
Real Estate provides cashflow, tax benefits, equity building, competitive risk-adjusted returns, and inflation protection on its own. Whether you invest in physical properties or REITs, real estate may help you diversify your portfolio and reduce volatility. Dividends are what got me into investing in REITs, great way to secure the accumulate wealth, I hold AMT, CCI & PSA. $290k in profits made in 2022.
Consistently investing in high quality dividend paying REITs & companies over the long term is a relatively easy strategy to create generational wealth. My "boring" REITs portfolio paid me over $4,000 in dividends last month.
It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "Eileen Ruth Sparks", I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.
I want to play the long term game with well diversified fund. Please how can i reach this CFP of yours?
Most likely, you can find her basic information online; you are welcome to do further study.
Thanks for this tip. Her website popped up on the first page immediately I searched her, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon.
Could fall another 10%? That's not a housing crash. That's a small correction. We need housing prices to fall another 30% just to be a healthy correction. Prices are so ridiculously overinflated that it's difficult to determine what would constitute a crash. Another 50%, I guess. But that would only return housing to fair market value.
exactly
That’s not true. Look at your return on investment
Look at rents fucking rock
And what is " fair value" on a commodity that is very limited?
EXACTLY 💯
I think there needs to be a huge correction in North America regarding housing, so that buying becomes more affordable again. Because otherwise... You're looking at a generation that will never be able to buy a home or and barely afford rents...
I think we're there now.
Well low interest rates and low supply were huge factors. Until you get the supply figured out you will have issues
That’s where Schwab wants us to be though, right? You’ll own nothing and be happy?
You need very little down to buy a house with an FHA loan
You act like this isn't where they want it. If house prices dip, make no mistake about it - you will be competing with corporations for them. Get real estate while you can because regardless of a crash, the plan isn't to let you have them - it will get more and more difficult as time goes on.
Home prices have never dropped from early last year when fha loans were 3.5% and people were over paying 35-50k for houses. Except now interest rates have skyrocketed, and NOONE is buying now, but sellers still want top dollar. It's either feast of famine. Sorry I don't have an extra 50k in cash to over pay for a house in May of 2022, and now I am notwilling to pay an extra 600$ a month in mortgage for a turd! I literally HATE the market.
The housing market is a joke.
Right now there’s almost nothing for sale in my area everything gets snatched up quickly
in November I flipped a mobile home to a cash buyer it pretty much sold within a couple days but I think the car market will eventually tank
@FAMILIA DIAZ I live in NJ, it's real bad here right now, and only getting worse.
@@Rosicrisp
I have a trailer I can buy in my area for $5k. Its 2 bedroom. Comes furnished.
Only needs basic very light remodeling.
You think that would be a good flip?
@@bigzachful depends what state and what part of that state
Success is not built on success. It's built on failure, It's built on fraustration. it's built on fear that you have to overcome. I pray that anyone who reads this will be successful in life
O'Yes I'm a living testimony of Mrs Victoria Alejandro
Victoria has changed my financial status for the best.!
@joshua730thphilibus2Victoria Alejandro has really made name for herself
I'm not here to converse for her but to testify just for what I'm sure of
@Austin Sims I've never heard or seen any of her clients complain of lost....I think she's just too perfect
People losing money on exploiting people's need to live? I really don't care... the NA housing market is overstuffed with rich fks who own an obscene amount of homes, and just pass the cost on to renters. They put up fake "equity" and have other people pay their bills while they ecrue the value from those people paying their bills for them. We need rent reform in NA, and more than anything, we need more homes to fix this supply and demand problem. Especially with companies like BlackRock who seemingly want to own every home and rent them all out; there's no way a corporation should own that many properties, with the sole business plan consisting of outbidding regular people with their vast starting capital, only to rent that same house out to people who got outbid, who now have to pay higher rent than they ever would a mortgage. It's turning into a big game of keeping the little guy down.
I found out they were getting 1.5% interest rates when everyone else got 3.5% two years ago. No wonder they were over bidding. I would be too if my interest rate were half that of other people.
I like how Pat be dropping receipts, real names, and addresses 😄
@@joleaneshmoleane8358 Terrorist alert
Pat be like yo...you could low ball this house at this address...just wait...they fake millionaires and they can't pay their bills 😄
Og
@@joleaneshmoleane8358 You're sounding mighty evil over there.
Im glad a real motherf*cker like PBD is out here.
Are you eager to learn more about finance? Maybe you are thinking about a career in the finance and investment industry. The key is not spending time, but investing it. Investing in yourself is the best thing you can do. If you’ve got talents, no one can take that from you.....
@valda Maidel That very correct!! And that is why most of them end up losing their money to scammers
knowledge is the greatest and quickest path to financial freedom, the rich stay rich by spending like the poor yet investing... While the poor stays poor my pending like the rich yet not Investing
@@kirstenraedmund7346 investing is very good and necessary but before you invest with any broker make sure that it will be a person that two or more people have talked about
Don't just rush in to investing with any broker because you have the money and you want to invest. Look for real br0ker
Who is this professional trader that everyone keeps talking about, I always see good recommendations about her? How can I get across to her for a start up?
I'm new to stock market /Crypto and would like to invest but I've go no idea on how to make good profits. Pls what's the best approach you'd recommend?
The only safe reliable,genuine and highly experienced expert I can refer you to is Mrs Claudia Walter's.
Wow I'm just shocked some one mentioned expert Mrs Claudia Walter's name i thought I'm the only one trading with her
Mrs Claudia Walter's service is really good, I invested $22,000 and made a profit of $81,000 after a week. I still wonder how she gets her analysis
Wow!! Impressive you trade with Mrs Claudia Walter's too! I thought people don't know her that well.... She's really awesome!
How does this Bitcoin stuff work, I am interested and willing to invest heavily as I have heard too many testimonies
Someone please tell this to my local realtors. Homes on the market for months and no one buying these overpriced homes.
Let me guess, california?
Florida still on fire. Houses way overvalued and selling.
My townhome I bought in 2020 in Florida went from 240k to 420k and rn its still at 410k 😅🥲
@@erwina4738 from 201 to 340k. Bought May 2020. Florida.
Thats normal. Whats not normal is having line of people waiting outside an house to view it. Whats not normal putting a house up for sale and selling it over asking in just 2-3 weeks. Whats not normal is people begging sellers to sell them their house promisjg to name their first born child after them if they do.
Everything you are seeing now is the market going back to normal. Super low interest rates and houses selling in less then a month has always been abnormal.
I think housing should only be used for people and families to live in and not as investment vehicles to speculate on.
If you can't buy a home with minimum wage then there's something wrong with the system. They could do it in the 1950s. You could work a job at Safeway back then and buy a home, car, wife etc.
Wife lol
The market needs to drop to the lowest it's ever been and then a little bit more. My parents paid 25 thousand for our house in 1979 my dad was a mechanic in sears lol. My mother was a full time house wife.We sold the house 6 years ago for 400,000. There's just no way to raise a happy family in this country for this younger generation. As a 45 year old business owner it's getting more and more uncertain out here in the real world.
Greed is why we aren't being paid as much $ in wages. Mechanic now makes $20-25 an hour on a good day and is required to buy 30-50k in tools. Shop charges $100+ an hour
We are paying for the lifestyles of these billionaires and multi millionaires
The average new car payment is about
$1,000 a month right now.
So true . I was on the market but hate to pay 1K for a car
And if you're in Florida your car insurance is another $1000 a month
Cheap
For a car, or for an SUV/crossover?
@@ponzo1967 not true, I have a 2022 Acura RDX and an Acura TSX and I pay $200 a month.
Tom is great. I love his calm demeanor and analysis.
The U.S. housing market is just broken and has been for a while now.
When new 60+ age communities near me are costing half a million starting price despite being smaller than a normal home is insane to me.
I live in the North Atlanta area about a 50 minute drive from downtown with decent traffic and the homes are starting at half a million then at that point the market has outpriced itself. I tell you what if the housing started at 350 or 400k it definitely seems expensive but is Wayyyyy more affordable espeically if im wanting a 30 year mortgage.
That is a huge difference in payments.
Houses are too expensive because we don't tax the rich.
7% on a $400,000 loan for 30 years will cost you around $850,000 over that time. So for every home you buy, you also buy the bank a home plus a pool.
@@SCARFACE69247 True, but we don't have much of a choice, need to compare this to renting always.
First recession documented by youtubers
Misleading articles.
Aren’t home values up over 100% from 3 years ago? A -10% drop means nothing.
There is a big difference between 200, 300,400, and 500k houses. Most people of the middle class can only afford 200-300k, and that is a stretch. Most houses are 400k that unaffordable for most people your income needs to be 200k+ a year.
Prices blew up in the past 3 years. My house went from $150 to 300k in 7 years. Income went up 15% in that time.
Every day I am thankful I refinanced in 2020 and got a 2.65% rate.
I just had to reject a job offer after going through several rounds of interviews because, guess what? Rent was very expensive in this area. It would have roughly accounted for about 70% of my monthly expenses, not including any car payments, loan payments, and travel to and from the workplace. Savings would have been in the negatives unless I found means for decreasing my rent.
It's good you can do the math. You would be surprised how many can't or don't. Best wishes. Prices are ridiculous in so many areas. In Florida just about everything here has doubled in prices on houses and rent. 2016 was the start.
@@dianetrue2396 I can't say I was not expecting high rent. It was in NYC after all. But I assumed that the salary would at least be competitive enough to allow me to save, idk lets say $500 a month. Or some sort of rental assistance. Because they sent me a 28 paged report on all of their benefits, and not one mention of housing and travel (ctrl-F searched for it). So yeah before rejecting the offer, I drew out an expenses sheet, drawing up a visualization of my take home pay after different tax considerations etc, and you know it was bad that my bare expenses, without clothing (which the offer letter said I had to buy on my own) and without any car payments. And yes, I budgeted for groceries, and no take outs, and so my estimate was reasonable. I showed this chart to the hiring manager, but he didn't seem one bit concerned that so many of his employees that had to take on such shit pay were doing it out of desperation and not out of pure will.
You could find about 3 other roommates. Not easy but doable
It's not just about money. Quality of life matters also.
@@pazzodi3 can’t if there is no other rooms
Honestly, PBD has grown on me since the Kobe interview. But I work in trading, I can tell you that 70-80% of analyst have been saying what Pat is saying so it's not anything new. When the Fed hikes rates at the pace that it is doing, there is no way the housing bubble could've lasted. This is basic economics.
I absolutely want prices to drop another 40%.
The kind of house I want (5 beds, 4 bath, 3000 sq feet interior, finished basement, 4000 sq feet backyard, new construction)costs $1.3 million currently in the NYC suburbs. I want it to drop to 800k.
Hope it comes down to $345k for you instead.
😂
LMFAO even if it drops to that price, borrowing application would change as rates would more than likely be 10%pa, so your borrowing power would be lower
So you’re stuck in the same conundrum - remember, you will own nothing and be happy.
@@bGzzzzz Doesn’t matter, my goal is to pay it off in less than 10 years and I have the capability to do it if I don’t fuck around with expensive cars.
@@alijaffery7735 - ummm there lies the problem “I will pay it off in 10yrs” - like I said, for prices to drop by 40% that would mean interest rates would be really high and your borrowing power from the bank will be reduced ie you won’t be able to borrow what you think you can…..
Unless you have 400k sitting in your account and you only need to borrow 400k, then sure - that would be achievable.
I build houses for the biggest home builder, and that guy is straight up lying about low supply. In the place where I was at the housing supply increase almost 30% in the last five years
Real estate is local and that is the national average remember that
In Tennessee sure, in NYC no
You work for 40yrs to have $1m in your retirement, Meanwhile, some people are putting just $5k or $10k in a meme coin for just a few months and now they are multimillionaires. I wish anyone who reads, to be a person in success in life.....??
How long does it take to learn and make money after you get going? I might like to try it out in the future. Maybe I still kinda hesitate about it because I don't know all the ends and outs, pros and cons.
That's true trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor the trade. I will advise you not to start tràding on your own it's very risky, seek the advice of a professional trader.
How does one know a genuine and reliable account manager these days?
Having monitored my portfolio performance which has made a jaw-dropping $200k from just the past two quarters alone. I have learned why experienced traders make more success in the market from Stacy Garric
Is it possible to produce superior performance provided you do something different from the majority? However, most of us tend to pay more attention to the shiniest position in the market to cost proper diversification.
Greatest financial literacy Channel on UA-cam
This is the opposite of financial literacy. Speculating on the housing market, bitcoin, and stocks is ignorant.
@@fvr12345 da fck?
Excuse me? This is coming from a moron to validate such a thing ??? You don't sound like a certified licensed financial adviser ... you sound like one of these idiots that lose their savings on a whim ...
@clot shots 99% of money managers underperform the market over the long run. You cannot time the market or pick individual winners and losers consistently. You’re better off investing in the entire US economy with a broad market index fund. There are a lot of books about this from trusted sources and not some hack UA-cam celebrity putting out clickbait videos.
@Mike exactly lol this sounds smart to stupid people.
I would say a big reason car payments are so high is because of easy access to credit. Decades ago it was common to buy a car with cash, or in the least a considerable down payment. Now Americans have a combined 1 trillion in credit card debt. With such ease of access to credit it is only natural prices go up. Too many people spending beyond their means driving up prices. Having the ability to delay gratification is becoming a rare trait. I bought my vehicle cash after saving/investing that money for years. I'm in the average income range. The vehicle was a year old with low mileage at a significant discount. I put away my ego and realized it was a better deal to buy a used vehicle that still had 95% + of it's life left instead of bragging to others that I bought a new car. Having a high car payment would cripple me financially and mentally. I know it is undeniable that the cost of living is higher than ever but that does not mean you should abandon common sense and purchase something you can't afford.
Great content guys. You should see how ridiculous the housing bubble is here in Australia. Our housing market was worth 9 trillion at peak, when we only a 25 million population.
We also have about half of mortgage households switching from fixed to variable this year. Basically going from 2 - 6% overnight. $1500 - $2500 extra a month on their repayments.
The shit is about to hit the fan.
Damnn those numbers def about to blow .
that's horrendous. looking like USA housing circa 08
Couldn’t agree more !! Australia wide ! , I live in Brisbane so it’s abit rough working around the Olympics speculation aswell with people thinking it’s gonna be the next Sydney .
It's even worst in Canada. Toronto suburbs prices down 25 percent and Luke you said everyone's mortgage is triggering
We have so many natural resources here in Aussie though. Not to mention incredibly low unemployment, far higher wages and far far less poverty than the USA.
The RBA said they would rise interest rates to 6% a year ago, people just didn’t believe them. The key difference between us and the USA in 08 is that most Australians can afford the rises today. Also, we are at the top end of the cycle, we might have one or two more rate rises. After that it’ll cycle back down.
Couple all of this with the fact that we are seeing more immigration to Australia (particularly Qld) than ever before, I think the housing market here will be just fine.
"You bought a house last year at the top of the market. What's your strategy?" 😆
they will raise rate and do exactly what they been doing... giving jp morgan and blackrock more money to buy these homes keeping the market up
Exactly.
Yes, if the banks own the houses they can control society
You got some kinda hardcore Gaming computer to keep all those tabs open 😂
😂😂😂, looks like my computer! Both of them are hardcore gaming computers! Lol!
half of what a programmer has daily lul
My old work provided computer use to choke at 1/3rd that. The New MacBook M2 Max Pro they got me I can finally have that many tabs
We've only just begun. This will make 08 look like a walk in the park.
I disagree, there were way less regulations pre 2007, so there were more unqualified home owners that defaulted. We'll see a correction from the economy and Wages but not major failures in the markets. Price drops are needed
I will give you 31 trillion reasons why printing Monopoly 💰 and low interest rates was a bad idea!!🤔
@@np494609 Everything is in a bubble!!
Investors will realize the ROI loss very soon and will start dumping. Why spend money on a depreciating asset when treasury bonds are 5 percent. FIVE PERCENT
@@mariooliveira9074 Assets are in a bubble. Products you buy at the store that aren't food and necessities aren't going down in price anytime soon. The only bubble that might pop aggressively is the stock and housing market and the housing market has too little inventory to satisfy demand so prices won't go down anywhere like they did in 08. Maybe 20-25% max. But not the 40% that it did in 08.
13:56 hence why I bought a Chevy Malibu. $440 payment with only $2k down. The used car market is disgusting. I bought brand new cause the used cars 2 or 3 years old with 60k miles were like a thousand or two cheaper.
Same for Rolex watches..might as well buy new
The Tommy Boy quote was AWESOME!
You want mint on pillow? :) Such a classic.
Tell San Diego there's a housing crisis. Houses that are listed are still getting bid up. Supply and Demand I guess.
ca and major cities are always last to come down and usually dont come down as much as other places
The stage thing needs a good intro, this was alright but needs polish.
Hey Pat.. try & get Ben Mallah on, especially regarding this topic... he is one of the biggest Florida real estate guys on this whole thing.
I appreciate your guys expertise and I just want to say that quite frankly, the whole real estate market makes me sick. This might sound like sour grapes and maybe it is, but owning a home is such a simple and basic need, which is denied tens of millions of people. The whole idea of borrowing money and buying up houses and flipping them and going places for real estate investment just in hopes of turning around and selling it to the next person for a profit quite simply just needs to end. The preposterously overinflated price of a home is really not good for anyone. All it does is suck up all of peoples incomes into having a bunch of sticks with a roof on top of it to keep your family dry. Not to mention the fact that so much so-called wealth is derived from these investments, which are simply based on passing the buck to the next working person, who simply wants to have a dry place to live. It sucks and I don’t want to hate the players, but I most definitely hate the game. It’s all FAKE.
This is so awesome 😎
You guys look so sharpe
over the yrs I have seen you guys grow right before my eyes 😭
These guys are missing a very important point. Most people who are on a mortgage have it locked it for 30 years, so they don’t care about these rising rates. Even those with a 3 year rate won’t feel it for another 2 years from now. The only reason for anyone to sell their home today is if they lose their job. The job market is on fire right now so that doesn’t look like it’s happening any time soon. Stop trying to make predictions
Valuetainment is one of the most inspiring & valuable YT channels. Their videos are great. Who agrees? One of my inspirations to start my own finance/business content🤝
I think I have to *concur* and I have been here since pre-Google got youtube.
You should have your head checked.
Comparing multi million commercial real estate to the housing market (residential real estate) is apples and oranges. These examples don’t hold much weight.
I want to know if the strong job numbers are caused by people taking second or third jobs to pay bills???
Our grocery chain is having a 1 day hiring event. They are hiring 700 part-time jobs and a few fulltime jobs.
Unemployment rate is estimated by counting the # of people employed, not the # of job openings.
Good. New Yorkers and North Jerseyans drove up the rates in Central and South Jersey.
Houses that should be 185 to 250 are going for 300 to 400.
It's completely out of balance.
Same stuff is happening where I live as well. These houses that should be worth about $120,000 on busy streets are going for like 250 or sometimes 300. Or at least they were the past couple years I'm not exactly in the real estate market at the moment...
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
They talk about the low inventory but forget to point out the all time high vacancy rate of houses not yet put on the market.
We haven't even factored in the student loans crisis yet
They need to turn those back on. I'm 30 and I paid mine off, what's fair is fair
@@thesoccertrotter1 True, I'm so sick of the never ending student loan pause.
I suppose but it's not borrowers who will ultimately be in the hook... it's too big a vote snatch. Dems will be forced to fight to the death to forgive all in a last ditch effort
Fair is irrelevant…
@@EricZAchille that'll last at the absolute longest till September
Previously owner sellers don’t just drop their price by massive amounts. They just decide not to sell. The only reason the market crashed last time is because the banks got all the inventory and institutional homeowners smashed the market downward.
You’d have to have an absolute implosion in the jobs markets for things to go devastatingly bad.
Bought my house years ago at 8% interest, with terrible credit. 3years later refinanced to 3.75% just paid it off and its worth much more now than when I bought it, even with all this going on. Don't let these prices stop you from buying a home...Real-estate fluctuates but so does the property value and more importantly... the land availiable is Limited, and there isn't enough for everyone.
Buyers can wait. Timing is especially important right now
Prices are still at the 3.5% interest rate levels. Prices will drop.
@@jfausset Don't wait too long, foreign banks, corporations and people like Bill Gates are buying as much property as they can amass, Property will soon be very rare and you may lose the opportunity to ever be a home owner. Land is a commodity and it is limited.
I'm pretty poor, but locked in at 2% for 15 years on a very modest house, car paid off. We have some other debt we need to get rid of, but damn I'm happy to not need a house or a car. We have thought about moving, but the increase in salary we would need to move is not realistic. Just going to wait this out.
Anyone who mentions a Tommy Boy quote is alright in my book... but that doesn't mean I'm taking advice on real estate from him! Lol
Every market in history has to correct itself. Just like the stock market, housing had ups and downs. It's went up for so long because of the artificial stimulus due to overprinting capitol. It will go back up, but going to dip in the next 6 months...it has to
My question is that inventory is still very low.. especially out here in So cal...what will make inventory open up? People seem to stay put because of low locked in interest rates
Pat just described what will make inventory go up at 15:10 to 15:50
@@Rex69Rutherford yea caught that late..thx
@@Rex69Rutherford Umm with all due respect and I dont mean to insult anyone's intelligence but you just pointed out this guy saying that lowering interest rates will raise unemployment, did I hear that right, LOL did you, because that is the single dumbest thing I think anyone with a econ/finance background has ever said like ever. I dont know what's going to happen but unemployment is low and the fed has raised the federal funds rate past anything most have forseen. they may have to continue to raise rates to tame inflation but holy shit lowering borrowing costs spurs the economy and creates jobs not the other way around.
@@ssaun2179 Good catch. When Pat said that, I assumed he glitched. But, we're at a point where rates cannot go down (b/c of the REAL rate of inflation).... so, the rest of what he said is absolutely applicable.
When millennials and gen Z median age hits 48, that's when the real crash happens. No more bag holders. Also when boomers retire from Congress and millennials take majority control, thus legislating NIMBys to their deathbed, and legalizing tiny homes. Then the housing prices will come down.
Houses prices won't drop with rent as high as they are... People don't realise how deep in a hole we are. The market won't do shit for us, its the reason we can't afford houses anymore.
You could tie it to incomes in the state so it doesn't do 30% jumps.
I appreciate your time pat... you could just sit back an enjoy life but you like info an are great getting it.
2006 was the peak and selling in 2008 the market went down 38%. That does not mean they the property was sold 38% cheaper than its worth in 2006. This is where you have to be careful about how people word things. It's like the car market right now, sales are down and supposedly so are car prices. That, however, doesn't mean car dealerships are selling their vehicles at a lower asking price.
Hello Patrick, in high school, there is an economics class, but I think the course is poorly taught because there is a lack of knowledge among young people. By following you on social media, I have learned more than in school. So my question is, could you create a great program to make the economics course relevant to future generations? You mentioned that you have interviewed many Democrats and Republicans and have a lot of influence. I think this would be a good way to use your contact and create that super econmy program to help for a better future, and I am from Canada. If you succeed in creating a super program, try to use your contacts to make it available in Canadian schools. Knowledge is power and your platform is to share that power.
Crime will inevitably go up because of rising interest rates… people will lose their minds, more violence etc
Pat's right hand man has really improved and stepped up his questions, answer's and style. A year ago I can honestly say that I wasn't a fan of his, but Pat saw (in Adam/smartly) more than I could. You are all doing a GREAT job and the information is extremely important and helpful. God bless and thanks for all that you do.
Adam was always good y’all just like taking sh** about him because he is a democrat
Give him until next podcast, he will return to his true north
@@c.f.okonta8815 Is he? I had no idea lol.
All markets have cycles…housing is insanely high…pointing to the first dip in 15 years and suggesting that this signals the demise of the housing market is is so sophomoric…of course ppl that bought at the peak of the market will be hurting that goes for any investment
Happened to my sister back in 2007.
Back in the eighties when interest rates were like 15 percent my parents rented rooms in our house to help pay down that mortgage.
Doesn’t affect me. Own 3 multi family homes all rented. Will retire at 45 if I want too…
I have kept my rent affordable but I had to increase a little because of inflation and maintenance cost…
People will not buy because interest rates are sky high not because of inflated house prices… I have personally seen ppl rush to buy a overpriced houses just to get better interest rate before the hike…
It’s all temporary…
It’s 2 years of pent of spending
You know it’s so upsetting that due to The GOVERNMENT we’ve lost a million or more 2 times in the last 15 yrs in equity alone. The market has dwindled half my 401k..
I do EVERYTHING everyone tells me but the Government takes it all down yet AGAIN
I never refi, never pull my 401k
It’s retirement and inheritance. I live below my means and we are screwed yet again.
I will build it again too.. but you understand what I’m saying
The government plays a role but crashes are inherent in capitalism they are inevitable
You do understand how capitalism works right? Boom and bust cycles. Growth can’t continue forever. Quit crying and “grind harder.” The time you spent here crying could’ve been used to “get that bag.” Cringe
@Mrs. Graves you might find Garrett Gunderson refreshing. Sorry you've gone through all that!
@@MakeMoneyOnlineWithEmma me too
Understood.
One factor no one seems to mention is that the US population has grown by 30 million and hardly any houses were built between 2008 and 2016. Then the bottomed rates to all time lows. Now no one wants to sell. This month we had around 200 more homes that came off the market than came on in our MLS. Even Luxury started moving some and we had a major hurricane. No matter what happens 1)People still need a place to live 2)Renting is still way more expensive 3)New housing is what usually crashes first and prices are still elevated. 4) New housing has by no means crashed. 5) The cost in materials to build new is almost 50% more expensive than 5 years ago. The dynamics are very different from 2008. This is not (the market is great) speech. It is not. It is real estate stagflation. I don’t want it. But to act like because we want prices to go down they will is wishful thinking. What else do you predict will go down in price? I bet not much.
I was watching this unfold during the pandemic mania and was thinking to myself.....these people are going to be so ph*cked when reality hits!
We are not seeing prices go down in the NYC/NJ area. We are still seeing multiple offers on homes and the waiving of appraisals and inspections. We do not have a lot of new construction. Inventory is low and demand is high - regardless of the interest rates. Newer buyers are concerned but those who know interest rates have historically been higher aren't complaining too much. Rents are also outrageously high and going higher.
I was tired of watch prices being over retail so let’s go
Who cares about how low the unemployment number is if 70%+ of people that have jobs are working for less $75k per year. The fed wants to create unemployment in my opinion, especially in the white collared jobs category. The less people there are to afford the more expensive things, prices will have to come down. It's happening right now but the impacts of all these layoffs will take time to be felt within the economy. Everything is connected in our economy, but it takes time.
🔮✨If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to build generational wealth, and cultivate financial knowledge, you must be in the market
Assets that can make one successful in life
I. Crypto
2. Stocks
3. forex
4. binary
Look at history as interiors up and values go down and people that weren't poor ( middle class) can't afford things and sell for pennies on the $ that's where the penny pinchers that saved money and the already wealthy become richer . The great depression, the 80's recession, the 08 market crash, and unfortunately it creates a larger # of poor that have to try and slowly work their way back uphill. That's why we had a generation from the great Depression that ended up wealthy in the late 50's early 60's . They worked hard ,saved and invested or started their own companies. Unfortunately either their children or grandchildren do not understand struggling and most end up broke unless its in an untouchable trust and they have to live off the income from dividends or from actual business.
Most times it amazes me greatly the way I moved from an average lifestyle to earning over 65k per month, utter shock is the word. I have understood a lot in the past few years and never to doubt the fact that opportunities abound in the financial markets, The only thing is to know where to focus
I began to invest in trading and crypto market, I’ve made enough profit in a year to buy rental units and parking lots and I’m still investing in cryptocurrencies and my crypto trading which brings in roughly €480k annually
I just withdrew my profits a week ago, it was so shocking when I withdrew $30,000 knowing I invested $3,000. I wish I could reinvest but, too much bills
I have never seen any of her clients complain of lost….I think she is just too perfect
Amazing I also just started trading with Mrs Stacy, With an initial investment of $1,400 I made up to $7,450 in just a week of trading with her, her strategies are mind blowing
Wow that’s an awesome return of investment, indeed there’s a lot of money to be made in crypto markets trading, I guess it has to be with the right people around you.can you recommend her to me as well? how do I get to her
Real Estate is way over priced it needs to come down. This isn’t a big surprise.
Forget saving money for your kid’s college, you have to save for your kids to buy your kids home
At this point that is a better investment
We don't have that much time, I am sorry.
Saving isn't gong to help with inflation and taxes
they can buy their own homes. local colleges and universities still cost around ~3k to 10k/year. don't fall for Duke, Wake Forest,...etc.
My father built his dream home in the middle of the 1990's for 150k and sold it for 300k in 2001, and that home is now valued at 1.5 million dollars, it was up for sale in 2012 for 879k last I checked so the drastic increase is only continually escalating. That drastic increase in value does not correlate to our nation's economic growth, it points to a failed system that was implemented by the Fed, that home should likely be valued at 350k max but instead the American people are being priced out of the market near completely. And that is simply tragic.
Property itself is being monopolized, only a few corporations borrowing off other properties ad nauseam in order to purchase more and more homes while not spending a penny, offering ten to thirty percent more in value to many and even before those homes are on the market because these corporations also grease the palms of the estate sales market so that they can buy those homes prior to them ever hitting the market.
Society cannot contend against such evil, and once all property by majority is owned by a few corporations, that is when shelter becomes yet another tax upon the citizens and you will not be allowed to choose which property you are allowed to live in, such decisions will be made by the government itself because the government has abused its power for far too long and that deceit against society cannot be tolerated.
I bought my home for 168k in 2009, 3 years ago it wasn't much more than that and it's currently valued at 234k which has happened in the past 2 years, all because my townships governance has been hijacked by Socialists who are ramping up property taxes to fund their friend's employment in local governance and exponentially increasing the property's value to garner larger property tax returns (by the time you learn of this you can only challenge this change by fighting in the courts that they have already hijacked and weaponized against the citizens through fellow Socialists taking positions in all forms of governance here because they misled the public about their intentions and lied about their plans if elected). My home is horrible compared to the home my father built for less in nearly two decades prior, the price differences in 20 years cannot be overlooked, as if the currency has lost nearly 60% of its value recently.
Two people had won in the midterms that were not part of this Socialist group, and these Socialists near immediately got rid of them through illicit means, board inquiry and review paired with egregious litigation over hearsay, innuendo and speculation alone. The reason why one of the two that won the local election was put on unpaid leave and to then be fired and replaced by three others doing the same job for nearly 4 times the cost is through hearsay of hearsay, a wrongful termination civil suit if I've ever seen one. But regardless, now these Socialists hold full control over the local governance and there is nothing we can do about that currently.
The claim against one of the two who won the local election were someone's friend said that their friend stated the person in question smelled like alcohol at one of the board meetings, an investigation took place, and it was inconclusive after wasting tens of thousands of taxpayer dollars which should have never occurred as it was literal hearsay of hearsay. Then they hired on two lawyers to chase out the other person who won the midterm election as well, these measures have costed our township nearly 300k in about a year, all the belief that these people were to fund infrastructure repair and to fix the leaking roof of the school was blown, simply because Socialists know how to weaponize the courts and also abuse innuendo and hearsay in order to get people wrongfully fired. Then the price comes due, the person fired has 3 people now working that single job for 4 times the cost to the taxpayers, all while the board is attempting to pin Homeowners Association dues upon all in the township next.
If HOA gets its fingers in our township, it's over, the majority in my township are highly against such deceit but the board now operates through closed doors sessions, claiming too many "dissidents" and "bad faith actors" are interfering with their duties, even though they are supposed to be working for the very people they are wronging, as they just increased our property taxes by half a percent which was originally claimed to fund the leaky school roof but is now proven to have been garnered in order to fund their friend to work in local office with them, yet another useless occupation leeching off the tax payers that has no reason of even being a job outside blatant theft of the people. Our township already harbors one of the highest property taxes in the state, how this is allowed I haven't a clue! It's criminal if not blatantly evil, this assault upon our township should see the entire board removed, especially now that they refuse to address the public directly and now spout demands of the people instead.
After the last closed-door session, they are now attempting to force our local gas station to close because they also do internet auctions for warehouse and larger sized goods that are held on the property, which is nearly 10 acres of large storage sheds holding hundreds of thousands of dollars' worth of machinery and things like RV's and campers for auction, and to these Socialists they think it's an eye sore and they want it gone. The Socialists claim the gas station makes our township look like a junkyard but it shows great value if you'd simply look at the value of those items on that property, it's not junk and the gas station owners do upkeep on the items and repair the inoperable pieces to resell as working within the large sheds, all the bartering and trade that the owner of the gas station does is likely the bread and butter of our small township regarding taxation, but to these Socialists they likely want the gas station gone so that they can better represent their own self-interests, it's just as likely that they were bribed to do as much by the neighboring city in order to garner our townships business too. Everything is backwards, and I'm continually hearing "no taxation without representation" repeated by many in our township, seeing how after they've hijacked governance it's been nothing but the weaponization of the government against those living in our township.
My boy just sold his home this week and people were still paying way over the ask price
Investment companies need to keep housing prices high to supplement the IRAs they are managing
Car loan payments are making folks poor. Try to pay it off FAST. Cars are depreciating assets.
I was a fake millionaire back in 06….. took me a decade to recover and I sat this market out when I was running to catch butterflies.
I’ll stick to the turtle 🐢 method that has me in better position this time around.
A former co-worker of mine lost 30 million dollars during the last downturn. He never recovered. From multi-millionaire back to working stiff. I'll stick to the debt free slow method.
Learned your lesson.
You can only lose a trillion dollars in value and still be worth a trillion dollars...if the value was at two trillion or more. The market value decline is not the problem. The problem is, why was it near and above wherever it was at to begin with?
The future they want for us was already explained 'You will own nothing and you will be happy.'
they never owned it though, the bank did.
Love Tom. No macbook no tablet, no phone, just a lap full of paperwork and facts!
Many homes went up 100% from the trough to their peak so a 20% drop is peanuts. You have to put it in context which this show usually doesn’t do
LOL just wait
@@amcacertified2038 if it drops more that’s another discussion but just saying the 20% isn’t the panic they are trying to make it
Does the value of a specific property plummet if the real estate market is tanking?
20% from the peak is nothing and in many places it’s already way more than that.
If Pat gave me an opportunity to work for him, I’d be on the next flight. A dying breed, that’s for sure.
Keep going please. I finally have money for one but I don't want to pay these prices
I paid off my first mortgage rather recently and I want more but the interest rates blow ass. Conflicted as a home owner but I'm kind of hoping for a crash
I live in an extremely wealthy neighborhood in a big city. My dad is a doctor and bought the property before the entire neighborhood got developed. His investment has matured very well. We have been grandfathered into a much lower tax bracket than everyone else in the neighborhood. I have seen it myself, people came in, bought land, built a house right next to me then moved out simply because they couldn’t afford the HoA and property taxes. Its not just the price of a house
Why Family is so Important. If you have a family , you have a business. Things can be a lot easier moving in a unit !
According to Zillow my property is still going up. There is still a big shortage in housing. Commercial RE is a problem. It all depends all local markets.
My man has over one million tabs open.
Car prices/payments are outlandish.....compared to yearly income percentages in the early 70's, it's up over 400%.
Money is fiat, it's fake and being printed every second. I want God's money aka Gold.
NESARA is in play
Inflation-"What is the only thing he can do to lower it?" Maybe I'm just a crazy conspiracy theorist but some how I believe when the Central Banks would stop expanding the money supply, the inflation of it would stop...🤯
Even though I'm not a big fan of PBD, he still provides some useful info.
jealous hater
@@DJRS2178 and you're full of love?
@TheDJRS exactly what's wrong with the comments section these days.
How can someone not being a fan of someone being called out a "jealous hater?"
I guess you're a fan of everyone and everything? FFS. Lol
@@DJRS2178 lol
Same here but I will give it to him on the business side he does have some good info
Maybe we should find another way to get inflation down. Put they don't even talk about the other ways to do it
Instead they raise rates and everyone gets laid off smh
Solve inflation…Get rid of the Fed and central banking…per Milton Friedman
Wasn’t he for negative tax rates?
Uh you really don't understand how this works do you?
@@fvr12345 I know it’s a rigged game.. I was a securities broker and played with many who scripted these results.. enjoy the ride 🙈🙈
@@kendahl7922 How do you propose we “solve inflation”? Do nothing and just hope that it works out?
@@fvr12345 bill gates is tackling the issue with the vaccines. Once 100M Americans have died then less demand for oil and other commodities
People bought houses 30% over their value, then as the interest rate went up people started paying more in interest alone than the house is worth(anything 5.5%)
Of course once everything came back to normal a $200k house is really worth about $165k on an interest rate of about 6%!
Paying over half a million on a house worth $165k is crazy!
Replace Adam with Ben Mallah 😎 Real estate guru and good debate skills and roast skill ha.
Replace Adam with a lamp
#Facts Adam is a renter...he has no experience whatsoever being a homeowner/landlord
#1 reason for the coming recession is lower ENERGY supply..higher costs..higher inflation.. gov increases %. Until ENERGY SUPPLY is corrected, expect vicious cycle of >%, inflation repeat
They need to crackdown on the huge landlords that only rent
The housing is mainly a problem in select areas, largely liberal cities and states. Most of that has been driven by solid population growth and NIMBYism. They fight like hell to not build new units. And that's locked in by voters who would hate to see 5 millions new units built in a state like California. I have friends that bought a condo over 20 years ago under $200k. They were able to sell it for $700k, move a few miles inland and buy a house for about $450k which has now jumped to $1.4 million. Lots of people moved up this way but they don't want new units built. They are less locked in vs the tech person that got a big payday and dumped it into a house for $2 million that a decade ago sold for $500k. They really can't afford new units and a correction, but correction is coming. Then there was a commenter on another video complaining about Florida building to many units and was upset his house wasn't gaining crazy value "my house has only gone up $50k!" Dude thats still a hell of a jump and you need a housing market that is stable.
Patrick tries to make everything doomsday. The other day it was public schools
Doomsday for who? A crash is needed for the younger generations to even have a chance. Doomsday for baby boomers that have had the silver spoon.
I say that the fed will hit 11%by 2026 because of the previous efforts to reduce inflation won't be enough currently.
I'm probably going to be wrong on this but I'm ok with that