Taco Bell layed off a bunch of workers in a town near me. I think they actually got some of those robots Elon Musk builds on the cheap to replace the workers.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Christine Conte to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Purchasing a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now..
I hope to own a home some day, not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
The manager that guides me is "Diana Casteel Lynch", most likely the internet is where to find her basic info, just search her name. She's established.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
This is great news. I don’t know why anyone would be upset. My kid is trying to buy a house. Lower prices are great for home buyers. My house is ridiculously overpriced and is worth half as much in reality. I want my house price to plummet. Then my property taxes will go back to a reasonable level. I’m forced to pay higher taxes because of lies and nonsense in the housing market claiming a $250k house is somehow worth $450k after just a few years. It’s not. I’m being robbed.
I feel the exact same way about my house! It all needs to be reasonable again so "average" hardworking people can afford a nice home again for their families.
I bought a house in 2016, new but horribly made. When the prices went up, I sold it and almost got 200 grand back. I can't imagine why these 200 grand houses are selling for 400 grand. My next house will be older and better quality. If I pay 400 grand, it better have at least 2 acres.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
@keyisersozethe climate change Kool aid got you tripping we are actually still in an ice age as long as we have ice caps around the world we in an ice age also if all ice dose melt it won't be like water world nowhere close
My dad is 80 years old and when he was 50 his mortgage was $360 per month for a 5 bed 2.5 bath with a sun room hot tub on large corner lot. He was making over $200k per year. The way people live now is wrong. Too much stress no happiness.
@@HiddenAgendas Hes saying he was making 200K when he had the house for 360 a month. So he was making 200K a year like 40 years ago. So even though back then he was rich and the house was a good lot 5 bedroom house and it did not cost an arm and a leg to buy. Right now its not so much the house that costs an arm and a leg its the property it sits on. Supply and demand drove prices up and now that the demand in many areas is starting to drop off the property values are starting to go down. The reason normally a house is a good investment is normally you have steady constant growth and steady constant value of property like the stock market. But we had a mass flood of people fleeing CA and NY two of the most populated places in the USA and that spread out across the nation caused a fast issue with demand and not enough supply across most of the nation. Now that the supply and demand is starting to level out property values that were inflated by too much demand the values or the property are going down. Thus people are losing money. I say good, all the people that fled the states they destroyed and spent too much on a house because they wanted out of those states and drove up home prices making it too expensive for the natives who were living there already, can suck it.
@@Twotone-ld1fb 1 correction. Homeowners are not fleeing California. Renters are. That's why there are no inventory in CA. Home prices are actually steady or going up still in California. Listing thats do pop up, get sold the next day in high demand areas. Even though interest rates are up, and home prices have sky rockets, people are still buying in CA. No one is fleeing. Traffic is horrible, there are no empty ghosttowns / neighborhoods like you see in Texas, Florida, Carolinas, Nevada, Dakotas, etc etc.
I watch your channel every day and I love it. Filled with facts and data. I don't post often (one a decade) but when you mentioned that you received criticism for "repeating" or anything else, I would love to watch the video from that critic. How you walk and lecture perfectly, without a script, is awesome. Just moral support. Also, I always leave a thumbs up.
Repetition is a well-known tool in educating oneself. By hearing things repeateded over and over, facts slowly sink in. Of course, the same could be said in regard to propaganda. But not in this case. (Always enjoy your videos, Michael.)
I am one of his critics because he is selective in his data and leaves out key points to form his narrative. With those huge drops in Manhattan, that is because home sales are extremely low and the people selling are still selling into profit. The units being sold on average have been held for over 10 years. Would you like me to go on as to why we are not going to have a housing crash but instead a slow decline of prices in market adjusted terms not some epic crash in nominal terms? (market adjusted terms when dealing with real estate is when the median income in an area changes and inflation are calculated together and then made into a ratio against buying terms for the house)
Crazy times right now. I remember 1980’s TV show “Married With Children” . It was a sitcom about a Shoe Salesman with 2 kids living in a beautiful single family home with an attached two car garage with his shopaholic wife, a stay at home mom living a comfortable life with a dog. Wow, how times have changed.
Anecdotally, there was a house near me that was built in 2005 for $1.25M, fast forward to 2018, the owner listed it for sale for $1.6M. They just assumed the price had increased after owning it for 13 years. By late 2019, they had lowered the list price by $600K to $999K. They finally settled at $775K in late 2020, nearly $900K under the original list price. Had they waited literally 3 months, could have gotten $1.2-1.5M. After seeing this, there is no logic in real estate pricing. Your property is only worth what someone wants to pay for it.
It's by design. Blackrocks / Blackstone wants to buy up the neighborhoods and develop the area. They are purging the cities with crimes and high insurance costs. This is not an accident.
@@HiddenAgendas If you knew it was “by design” why didn’t you invest in Blackrock like I did long ago and live in a more affordable area or state away from those places you’re scared of. Things like this is why I’m retired debt free in my 40s and out of the matrix.
It’s probably not, but local rulers love this-it’s free money. That’s how cops can ride around an issue tickets from 100k SUVs and fly around in circles with jet helicopters at 2k an hour in operating expenses.
Bought my house in Cali for $160k back in 2010...a 5 minute walk from me is a new build with the same size model starting at $800k...I have .no idea how anyone affords it
Mike, keep up the format. You are right to repeat. Like u said new people to your channel may not have heard it. Enjoy your channel and information. Thanks.
My mom bought a home in 2004 for $525k. She passed way in 2011. We were only able to sell it for $325k. The house was all she had in her estate and we had to liquidate or get a new mortgage which was not desired by either my brother or myself. You never know when you might have to sell. Also, my mom and grandparents bought several homes over their lifetimes. They never made much, if any, profit. Housing has become like the stock market but with much less liquidity.
You are in Marin county, one of the safest and richest counties in the nation, talking to folks about things crashing. Literally, those folks in that area could care less they are so rich and safe.
Who are you kidding, most home owners have become their own squatters, not only that what the economy doesn't take from them the storms will, reality always wins over fantasy.
They were just massively overpriced. Dropping by 40% when something is already priced about twice what it should be worth isn't such a wonderful thing.
I like your videos Michael. You explain everything very clearly. I’m in So Cal and the cost of housing is exponentially unaffordable. Rent is ridiculous. These young people don’t have a chance to afford a house. The bubble needs to burst.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Love watching your videos. Very informative. People should not be complaining for bringing the most important points home. They’ll forget too over time if it’s not repeated.
I bought my small duplex in 1997 for $44,900, fully paid off in 2008. I live in one side, and currently rent out the other side for $1,800 a month. With upgrades and maintenence over the years, it is now worth $300k. But I'm not looking to sell anytime soon, this is where I'll live out my old age, all conveniences is within a 1 mile radius, and I love my neighborhood and neighbors. I'm now 60, I'll soon qualify for social security (Yay!). For added income, I've been involved with online auctions since 2005, and my sales have been solid year to year, even during the pandemic. I consider myself fortunate, no real complaints, since i have everything i need, live within a budget, and live a basic and simple lifestyle. I avidly ride my bike, go swimming, hike the levee, visit my local library, free weekend festivals, etc, things that don't cost me anything. This is a nearby suburb outside New Orleans.
I’ll say it’s HOT! Just rained here in SW FL. Oh more humidity. Oh joy ! 🤣 But I have to admit. I’d rather this then FREEZE all winter. And SNOW! Been there done that.
I'll tell you straight up, no chance of getting insurance on anything in FL or NC at all. Anyone in a river area, nope. Harsh but true, nobody is prepared to take on the risk of insurance in flood zones, why should they.
Pending Sales is a ruse. Zillow and the like reverted to Pending Sales as a market indicator because it is not tied to any commitment. Anyone can generate a pending sale and cancel without any commitment. This is how the crash has been cloaked for so long. Escrow has been the market indicator in the past because it was the final phase of the home purchase. The term "Falling out of Escrow" was the failure of a sale. Pending Sale or Contract is nothing but a speculation where no funds are committed. Its good that you are showing people the reality of this Housing Market.
Yes, I live in Tampa since 2019, our townhouse lease is up in Sept and we are moving back to Atlanta, we would never be able to buy what we want where we want unlike metro Atlanta. And yes home insurance and taxes are ridiculous.
My husband and I did a cancel on the last day when one is able to do so. Cold feet, uncertainty, and the need of the condo for major updates. Something just didn't sit right with me. No regrets! This was in May and in Bradenton, FL.
Considering there’s around 20k cities in the U.S. and a starter home can be below $100k or even $200k newly built in my area of the country I don’t see the problem.
I just read your comment to him! lol We appreciate your support! He won’t be releasing a video tomorrow.🙏 Usually he puts a video everyday except for Tuesday.💕
Buildings are extremely expensive to repair, insure, and maintain generally. Building codes can be financially crushing. On top of that, Govmnt wants taxes endlessly. . Be very careful. Know the TOTAL cost before you buy.
Interesting point. If I were selling a house, and some stranger wanted a tour w/o a real estate agent, I wouldn't let him / her in. It doesn't sound safe.
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 6 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Lois Jean Frueh is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
To understand the US real estate market, you must understand what I term the fundamental theorem of US real estate, namely *civilized* *people* *won't* *tolerate* *murder* . This is why a given house might cost $5k in one city and a nearly identical comp might cost $2M in another. There is no general affordability crisis, only market-specific ones. The problem, of course, is that no one wants to live where houses can be bought for $5k because there's appreciable chance they'll be randomly ended there.
We put in a offer for a house in Hemet CA, The owner tried to start a bidding war with his house. Then went up from 550K to 585K. Its still on the market.
$35K is not that much money. If you lost out on a house that you wanted over $35K, you weren't really that interested or can't afford a house to begin with. Money comes and goes, but some houses are unique and are in great spots (corner lot). Those don't come around that often.
When we are outpriced of the housing market it will severely affect other "unrelated" businesses because homeowners buy furniture, shop locally, etc. Everyone will feel the pinch eventually
Requiring Buyer Broker Agreements to show someone a home should be illegal! Previously, NAR supported price-fixing on commissions and now they come up with this bull$hit after ridiculously agreeing to the recent settlement terms.
Good videos, you’re telling the truth. Not going to be a buyers market til the banks repossess these homes. Everyone’s underwater pretty much everywhere. Also another problem is people can’t get qualified for a mortgage, credit has tightened, and to qualify you have to have a qualifying debt to income ratio…so with high rates they’re simply not getting pre-approved. DTI ratios are a huge problem right now..they were barely qualifying with rates in the 3’s and 4 percent ranges…7-8% is forcefully keeping them sidelined.
@@geocam2 You weren't sposed to get that reply it was for the dude worried about the golden floors... People for whatever reason who own are fortunate. I can only get one more house before I'll be maxed out for at least five years. All good!
Michael, I watch every day. You bring the truth. The housing market is flooded with over priced homes. The sellers are trying to cash out because they know wont be able to pay the taxes, insurance and upkeep that is gone up so much.
This content is particularly fascinating to people in the English speaking part of the world because it shows us potential future scenarios that haven't yet reached us. For example, in our case in the dead centre of England where it is 5 hours drive to each corner of England we pay £3600 local tax per year which is nothing like the property taxes you pay per year. We could downsize now that we are retired but certainly don't have to. It seems that your property taxes are unaffordable, as is medical care in some circumstances. I first travelled to America in 1993 at which time in the Dallas area of Texas the new build houses on golf courses were comically cheap. We saw $60,000 houses that to us were very impressive and the exchange rate was $1.90 to the £. In fact for decades everything was cheap in America. Over the years we travelled to many states where we stayed with hosts. Everyone we met were kind, generous and had leisure and freedom. Since 2008 though, everything seems to be falling apart and your leadership choices seem to be unelectable. We understand why you're ranting and contrasting and questioning Michael. Where DID it go wrong? Why doesn't life add up? Why are Americans leaving to live abroad? Incidentally, my insurance on my £500,000 house is £240 per year. That's because we don't have hurricanes, tornadoes, wildfires or earthquakes.
Love your content! It's very realistic and unbiased! FYI...DOJ has made several updates to this since this video 🤦🏻♀ they keep changing things up. I suspect the reality is... they had no idea what it is Realtors truly do until now. One thing to note (at least for now until they change that too lol)... the buyer can sign an agreement instructing their agent not to show them any property that is offering less than a certain commission. So the buyer does have some sort of control in this matter...and can control what they will pay out of pocket, this way at least. They can also, just make the offer asking for the seller to cover the commission, even though they weren't officially offering it. It can now be treated the same way as when we negotiate concessions. This is going to be an interesting year!! We will see how it goes!
🎉🎉🎉 I think that all new buyers should have to pass some kind of basic knowledge tests to be able to even make an offer on a house. I hope that made sense. Your information is always so important to anyone trying to buy a house. Blessings,Carlos ✝️🙏❤️😊🇺🇸
Michael, I will be looking forward to seeing your “man on the street” perspective on San Francisco. In 2006, the homeless population was around 50k and I would like to know what it is really like without the politics. I appreciate your videos so much!!!! Thank you!
Wow…glad we’re closing on our condo in Florida next week for literally twice what we paid 6 years ago…AND we overpaid then cause it was just a vacation home we thought would be our 2nd home forever😁
Michael Please don’t stop reporting what we can’t depend on Worldwide News or our local news reporter’s to let us know. Thing’s are getting worse and many people don’t have common sense. Michael your doing a job👏👏👏👏
This is the scenario being described: I found a house. I want to see the house. I have to agree to pay some random person 2% of the price of the house to walk through it with me. I also agree to pay him for any other house I find and I look at in the next 30 days. Who would agree to this? Why would anyone pay a "buyer's agent" ANYTHING? They provide NOTHING. There is no SERVICE of any kind. If this description of the situation is accurate, it should cause a huge increase in people buying directly from sellers. Which would be a good thing.
Michael, I have been watching your channel for several weeks, just became a subscriber. Thank you for the simple, easy to understand the way you explain the things going on in real estate and our economy in general. God Bless.
your commentary on the new rules are accurate and I just wouldn't want to work with real estate agents at all to buy a house because of how gross the new system makes me feel.
Would love to see you visit SF and look at the real estate situation there! I lived in SF as a renter during the second tech boom and I don’t work in tech. Crazy ridiculously high rents during that time…. at least we had rent control, which anyone who wasn’t making those big tech salaries absolutely needed.
True....but you still don't want to buy when prices have risen to extremes....like now. It could take 10 years to recoup your investment, and that isn't ideal for anyone.
@AngieTaube agreed. Do opposite of the herds and the fomos and you'll be fine. But even real estate survived ww2 , the great depression and real estate is reset always in any new currency.
The gaslighting about housing prices seems more extreme now than in 2007. Virtually everyone I talk to in California believes prices are still rising ( low end buyers dropped out so median sales price rose as sales volumes catered) and will go up indefinitely. The marketing machine for mortgages (real estate) is paid based on size of the loan and should be paid hourly based on hours worked.
San Francisco is gone now hardly any restaurants or retail jobs Metlal Leo a UA-camr walk around San Francisco it’s bad fisherman’s wharf and the restaurants on the north beach are gone now deserted sadly if the lay off continues and inflation don’t drop high interest rates doesn’t drop continue to rise minimum wages most of USA will end up like San Francisco .news don’t show u all the business closed in San Francisco all the leases on the building.
Great video Michael…definitely not directed at investors like myself but I think you’re educating a lot of people that are not very familiar with real estate purchases…and I sure hope you wear one of your BEATLES t-shirts in an upcoming show 😊
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires..*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Barry Silbert
Home prices are SOO obscenely overinflated (in general) that 23% drops are meaningless. They need to drop 80% to become affordable to all but the 0.1%.
Those neighborhoods in NYC where real estate values fell are neighborhoods no one wants to live in because they've long been too expensive. The areas people want to live keep going up and up. The property taxes, insurance rates, and building maintenance are insane. If a 1 bedroom IKEA quality apartment was $1.5 million and is now reduced to $1 million, that's still stupidly expensive for a small, builder grade apartment that's worth $500K. In Greenpoint, Brooklyn, values went up 15% and comparable to Manhattan prices just a few years ago.
I agree, using Manhattan as an example of real estate values in the metro area doesn't workout. Sort of like comparing Manhattan prices to upstate in a small city or village, and averaging out what is going on.
PLEASE HURRY UP. My taxes have increased ~20% year after year for NO REASON other than these absurdly inflated and false home values. It benefits me ZERO since I am not trying to sell.
I'm here in Orange County CA and had to deal with a completely cracked out dirty homeless woman panhandling in the El Pollo Loco drive through today. That is the first time in my life, anywhere in the US, I've seen that.
If I were in the market to buy a ‘real’ house, I absolutely would not look at any houses if I had to sign an agreement JUST to look at it. I would be like ‘I’m out’. I would not buy. Just me
Thanks to you and Orlando, I sold early 2023. I'm still waiting to reenter the market for 2 reasons. 1. I think prices will continue to go down. 2. I work in tech and need to see what happens in that space.😊
You can go see a house at an open house without any agreement. If you like it, have the listing agent represent you to write up offer and other documentation. No fees for buyers.
NYC, through unbelievably awful policy, seems to intentionally crashing its real estate market. Who winds up owning all that property when the dust settles will determine if it was done intentionally.
@@sdrape4964there’s more to it than that, the elite of the world would rather you not exist. The goal is to get world population way below a billion people.
We have never had buyer agents in New Zealand, the concept sounds weird :-) You simply go around houses, have a look talk to the real estate agent and if happy then get your lawyer involved with the purchase agreement and everybody is happy. I think this is how it works around the most of the world?
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately 950k that same year. In reality, all I was doing was getting professional advice.
how can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. who is the driving force behind your success?
Job Market Approaching "DANGER ZONE" TOO MANY LAYOFFS ua-cam.com/video/3v3qpAbjoeo/v-deo.html
Listing agents are going to have to get used to working harder showing their listings.
Taco Bell layed off a bunch of workers in a town near me. I think they actually got some of those robots Elon Musk builds on the cheap to replace the workers.
It's a big country prices are all over the board
The same up to Germany. It is shocking that this development is ongoing in several western countries.
@@asbavaria Not being able to find workers is what pushed fast food and other companies to streamline their work forces.
I'm in Michigan, and the housing market here over the past 7-8 years has been unprecedented. Houses that were purchased for $130K in 2015 are now going for $590K. These are tiny, poorly constructed 950-square-foot homes in quiet, mediocre neighborhoods. Meanwhile, nicer, average-sized homes in better neighborhoods that were over $300K a decade ago are now selling for $750K+. It's wild.
A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
bravo! I appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
The decision on when to pick an Adviser is a very personal one. I take guidance from Annette Christine Conte to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Purchasing a home is already a very difficult thing to do, unless you pay cash or don’t get a loan from the government. If only my minimum monthly house payment, over the course of 30 years I’ll pay more than double what my home is worth. I purchased before things got crazy so I got a good interest rate. I couldn’t imagine trying to rent or buy right now..
I hope to own a home some day, not quite long I started investing. I'm very curious already and need help on how to enhance and increase my returns. Any good investment tips will be appreciated.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
My partner’s been considering going the same route, could you share more info please on the advisor that guides you?
The manager that guides me is "Diana Casteel Lynch", most likely the internet is where to find her basic info, just search her name. She's established.
Thank you so much! This is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon. I plan to start the year on a strong financial note.
This is great news. I don’t know why anyone would be upset. My kid is trying to buy a house. Lower prices are great for home buyers. My house is ridiculously overpriced and is worth half as much in reality. I want my house price to plummet. Then my property taxes will go back to a reasonable level. I’m forced to pay higher taxes because of lies and nonsense in the housing market claiming a $250k house is somehow worth $450k after just a few years. It’s not. I’m being robbed.
My State Caps Property tax at 6%/yr
based on original sale price
I feel the exact same way about my house! It all needs to be reasonable again so "average" hardworking people can afford a nice home again for their families.
I bought a house in 2016, new but horribly made. When the prices went up, I sold it and almost got 200 grand back. I can't imagine why these 200 grand houses are selling for 400 grand. My next house will be older and better quality. If I pay 400 grand, it better have at least 2 acres.
@@cadences76
The USA failed to build 5 Million New houses since 2010
Yup. Overpriced housing is a burden on everybody except the rich.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
Jennafer Beaver Turner is the licensed advisor I use.
Just research the name. You'd find necessary details to work with to set up an appointment
I just copied and pasted Jennafer’s whole name into my browser, and her website appeared right away. You've saved me several hours of arduous research, therefore I appreciate it.
When you over price your house 500% to 1000%, the price is doomed to drop in order to sell it.
Eeyup.....when i can I buy?
@keyisersoze nah need a place to call my own...Florida still lookin good.
Yeah..... and the prices have been so artificially inflated that when they do drop, they will still be too expensive for so many
@keyisersozethe climate change Kool aid got you tripping we are actually still in an ice age as long as we have ice caps around the world we in an ice age also if all ice dose melt it won't be like water world nowhere close
With a 3% or lower mortgage rate I wouldn’t be in a hurry to sell anyway.
I would overprice the home 500% to 1000% too if my goal was actually 300%
My dad is 80 years old and when he was 50 his mortgage was $360 per month for a 5 bed 2.5 bath with a sun room hot tub on large corner lot. He was making over $200k per year. The way people live now is wrong. Too much stress no happiness.
Let me gueass...Your dad name is Donald?😊
@@Alex-jx5bx 200k a year is nothing. It's barely middle class.
No one was making $200k a year 30 years ago and paying $360 for a mortgage
@@HiddenAgendas Hes saying he was making 200K when he had the house for 360 a month. So he was making 200K a year like 40 years ago. So even though back then he was rich and the house was a good lot 5 bedroom house and it did not cost an arm and a leg to buy.
Right now its not so much the house that costs an arm and a leg its the property it sits on. Supply and demand drove prices up and now that the demand in many areas is starting to drop off the property values are starting to go down. The reason normally a house is a good investment is normally you have steady constant growth and steady constant value of property like the stock market. But we had a mass flood of people fleeing CA and NY two of the most populated places in the USA and that spread out across the nation caused a fast issue with demand and not enough supply across most of the nation.
Now that the supply and demand is starting to level out property values that were inflated by too much demand the values or the property are going down. Thus people are losing money. I say good, all the people that fled the states they destroyed and spent too much on a house because they wanted out of those states and drove up home prices making it too expensive for the natives who were living there already, can suck it.
@@Twotone-ld1fb 1 correction. Homeowners are not fleeing California. Renters are.
That's why there are no inventory in CA. Home prices are actually steady or going up still in California. Listing thats do pop up, get sold the next day in high demand areas. Even though interest rates are up, and home prices have sky rockets, people are still buying in CA.
No one is fleeing. Traffic is horrible, there are no empty ghosttowns / neighborhoods like you see in Texas, Florida, Carolinas, Nevada, Dakotas, etc etc.
I watch your channel every day and I love it. Filled with facts and data. I don't post often (one a decade) but when you mentioned that you received criticism for "repeating" or anything else, I would love to watch the video from that critic. How you walk and lecture perfectly, without a script, is awesome. Just moral support. Also, I always leave a thumbs up.
Repetition is a well-known tool in educating oneself. By hearing things repeateded over and over, facts slowly sink in. Of course, the same could be said in regard to propaganda. But not in this case.
(Always enjoy your videos, Michael.)
❤@@Stephen-kl9wu
Pretty sure he has a script. Lol
I am one of his critics because he is selective in his data and leaves out key points to form his narrative. With those huge drops in Manhattan, that is because home sales are extremely low and the people selling are still selling into profit. The units being sold on average have been held for over 10 years. Would you like me to go on as to why we are not going to have a housing crash but instead a slow decline of prices in market adjusted terms not some epic crash in nominal terms? (market adjusted terms when dealing with real estate is when the median income in an area changes and inflation are calculated together and then made into a ratio against buying terms for the house)
Crazy times right now. I remember 1980’s TV show “Married With Children” . It was a sitcom about a Shoe Salesman with 2 kids living in a beautiful single family home with an attached two car garage with his shopaholic wife, a stay at home mom living a comfortable life with a dog. Wow, how times have changed.
I bought my house in CT during the 1980s real estate bubble . Fifteen years later it was still worth less than I paid for it.
He did have a crappy dodge car though.
@@1971_Chevelle_SS 🤣🤣🤣
I cant explain it but I found Peggy Bundy weirdly attractive.
@@bikesbeersbeats 🤣 My brother did too 🤣
Anecdotally, there was a house near me that was built in 2005 for $1.25M, fast forward to 2018, the owner listed it for sale for $1.6M. They just assumed the price had increased after owning it for 13 years. By late 2019, they had lowered the list price by $600K to $999K. They finally settled at $775K in late 2020, nearly $900K under the original list price. Had they waited literally 3 months, could have gotten $1.2-1.5M. After seeing this, there is no logic in real estate pricing. Your property is only worth what someone wants to pay for it.
NYC is no longer such a desirable place to live.
It's by design. Blackrocks / Blackstone wants to buy up the neighborhoods and develop the area. They are purging the cities with crimes and high insurance costs. This is not an accident.
@@HiddenAgendasthen it’s on the global scale, same happens in Paris, London, lootings, shootings you know exactly by who
@@HiddenAgendas
If you knew it was “by design” why didn’t you invest in Blackrock like I did long ago and live in a more affordable area or state away from those places you’re scared of.
Things like this is why I’m retired debt free in my 40s and out of the matrix.
@@HiddenAgendas What do you figure their timeline is on that project? 5 years? 10 years?
NYC desirable? Haha
The value of my home went up 100k from 240k to 340k 2 years ago. now my property taxes are much higher and I do not think my home is worth that muck.
Yeah, but now you have "Equity" in your home. With that equity you can improve your home so i can go further up in prices, so you can pay more taxes.
@mark__whitfieldmore gender confusion for school children.
You shouldn't of pulled from your homes liquidity.
It’s probably not, but local rulers love this-it’s free money. That’s how cops can ride around an issue tickets from 100k SUVs and fly around in circles with jet helicopters at 2k an hour in operating expenses.
~20% increase for me since covid. They are stealing from us more and more with these absolutely fake housing values and it is despicable.
I'm watching your channel from London England and find it really interesting.
My parents bought a 170k house in 2001 that is now worth 500k.. no one in my family could afford a 500k house...
We would KILL to find a 500K house in California. Houses start at 900K for fixer uppers
@@SharonFitzgerald I saw a video of a million dollar mobile home in California lol. I'm in Ohio. Fixer uppers are around 200-250.
Sell it
Bought my house in Cali for $160k back in 2010...a 5 minute walk from me is a new build with the same size model starting at $800k...I have .no idea how anyone affords it
@@willt.8645the banks find a way and the government lets them. 40 or 50 year terms, 0% down, etc. It's crazy.
Mike, keep up the format. You are right to repeat. Like u said new people to your channel may not have heard it. Enjoy your channel and information. Thanks.
My mom bought a home in 2004 for $525k. She passed way in 2011. We were only able to sell it for $325k. The house was all she had in her estate and we had to liquidate or get a new mortgage which was not desired by either my brother or myself. You never know when you might have to sell. Also, my mom and grandparents bought several homes over their lifetimes. They never made much, if any, profit. Housing has become like the stock market but with much less liquidity.
Your mum bought a home 3 years after she passed away? 😮
@@hmmokay6161How's your reading comprehension?
@@hmmokay6161 Corrected the date. ;)
@@kookietherapy9398 Very good. Thanks for asking. How's your eyesight?
@@hmmokay6161 She passed in 2011, bought the house in 2004.
You are in Marin county, one of the safest and richest counties in the nation, talking to folks about things crashing. Literally, those folks in that area could care less they are so rich and safe.
In general the Bay Area doesn't go down much. With some of the tech moving away and the greater economy much worse, this time may be different.
Actually, most in Marin County is still higher than pre-pandemic levels.
List Price + Price cuts + Time on Market ≠ Sales price 😂.
Who are you kidding, most home owners have become their own squatters, not only that what the economy doesn't take from them the storms will, reality always wins over fantasy.
@@toniesedrick691 - True. Reality does win over fantasy, which is why housing remains high. It's reality.
These areas that are crashing have become too dangerous, too undesirable, or too tyrannical
@@pinschrunner then time to buy is NOW
Or all the above 😊
They were just massively overpriced. Dropping by 40% when something is already priced about twice what it should be worth isn't such a wonderful thing.
@@nathanahubbard1975”Exactly right.”
@@rayo1371 go buy then
I like your videos Michael. You explain everything very clearly. I’m in So Cal and the cost of housing is exponentially unaffordable. Rent is ridiculous. These young people don’t have a chance to afford a house. The bubble needs to burst.
It is difficult to make exact projections for the housing market as it is still unclear how quickly or to what degree the Federal Reserve will reduce inflation and borrowing costs without having a substantial negative impact on demand from consumers for anything from houses to cars.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone wants to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
The new mortgage rates are crazy, add to that the recession and the fact that mortgage rules are getting more difficult, and home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. For now, get your money (as much as you can) out of the housing market and get into the financial markets or gold. If you are at a cross roads or need honest advice on the best moves to take now, it is best to seek an independent advisor who knows about the financial markets.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Jessica Lee Horst' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
A lot of these houses built in the last couple of decades are built very poorly. Almost cardboard roofs and walls.
Most buildings in the USA are temporary structures
DR Horton homes 😢
100 % correct
@@glendacastillo6504 lol!
At this point, I’d trust older construction for more so than new construction. I’d want a house built with a 2X4 was actually a 2x4.
I'm a home inspector in Oklahoma. Even here houses are staying on market noticeably longer, with WAY more price cuts as well
Love watching your videos. Very informative. People should not be complaining for bringing the most important points home. They’ll forget too over time if it’s not repeated.
I bought my small duplex in 1997 for $44,900, fully paid off in 2008. I live in one side, and currently rent out the other side for $1,800 a month. With upgrades and maintenence over the years, it is now worth $300k. But I'm not looking to sell anytime soon, this is where I'll live out my old age, all conveniences is within a 1 mile radius, and I love my neighborhood and neighbors. I'm now 60, I'll soon qualify for social security (Yay!). For added income, I've been involved with online auctions since 2005, and my sales have been solid year to year, even during the pandemic. I consider myself fortunate, no real complaints, since i have everything i need, live within a budget, and live a basic and simple lifestyle. I avidly ride my bike, go swimming, hike the levee, visit my local library, free weekend festivals, etc, things that don't cost me anything. This is a nearby suburb outside New Orleans.
go away
@@shirtlesslager the sky is not falling everywhere, Chicken Little, haha
@@johnclement9370 Bragging boomers need to get Stuffed
@@shirtlesslager my bank account is stuffed, sorry, not sorry, haha 😅
Louisiana is the only state in the country which has lost real estate equity since the pandemic. People are not moving there.
Thank you to our host for this walk-around outdoor segment. Really appreciate you for the research and content
Wow, @Michael Bordenaro has a shirt with sleeves! Not me, still broiling in Florida😅
I'm in FL & wish I was where he is for the rest of summer. Born & lived here 65+ yrs & I hate heat 😂
I’ll say it’s HOT! Just rained here in SW FL. Oh more humidity. Oh joy ! 🤣 But I have to admit. I’d rather this then FREEZE all winter. And SNOW! Been there done that.
Agree, property values don't always go up, there's definitely peaks and troughs. It's a case of long term assumptions, and government policy.
I'll tell you straight up, no chance of getting insurance on anything in FL or NC at all. Anyone in a river area, nope. Harsh but true, nobody is prepared to take on the risk of insurance in flood zones, why should they.
I'm ending up just trying to isolate major problems. I can't vote so independent. I'd go Trump.
Depends on the house, depends on the market, while some places have been heavily discounted. Some places are still near their all-time highs.
Then some may want to get out now. It’s like that in my area. I’m heavily debating selling 😮
I sold mine a few weeks ago,taxes and HOA. Trying to find a place to rent for a while is really tough around here.@@JFEnterprize
@@mattchampagne4578 real estate is always local
Please come to Sonoma County, Michael. Visit Sebastopol and Occidental. Please. It's just 50 miles north of SF.
Pending Sales is a ruse. Zillow and the like reverted to Pending Sales as a market indicator because it is not tied to any commitment. Anyone can generate a pending sale and cancel without any commitment. This is how the crash has been cloaked for so long. Escrow has been the market indicator in the past because it was the final phase of the home purchase. The term "Falling out of Escrow" was the failure of a sale. Pending Sale or Contract is nothing but a speculation where no funds are committed. Its good that you are showing people the reality of this Housing Market.
Nice t-shirt Michael!
You are AWESOME, please don’t change a thing!! 🤗
❤❤❤❤❤
Yes, I live in Tampa since 2019, our townhouse lease is up in Sept and we are moving back to Atlanta, we would never be able to buy what we want where we want unlike metro Atlanta. And yes home insurance and taxes are ridiculous.
My husband and I did a cancel on the last day when one is able to do so. Cold feet, uncertainty, and the need of the condo for major updates. Something just didn't sit right with me. No regrets! This was in May and in Bradenton, FL.
You dodged a bullet. Always follow your instinct.
A report today on Fox says over 200 cities nationwide have starter homes with prices starting at 1 million. Good luck everyone.
Foreign buyers.
Finisher homes
Do you guys need a tissue?🤣😂
Considering there’s around 20k cities in the U.S. and a starter home can be below $100k or even $200k newly built in my area of the country I don’t see the problem.
The nationwide average price tag for a starter home is $196,611, according to Zillow.
Damn, video on a Monday as well?! Take a day off man! I can't stop watching though, love the content.
I just read your comment to him! lol We appreciate your support! He won’t be releasing a video tomorrow.🙏
Usually he puts a video everyday except for Tuesday.💕
Michael staying with and recommending your channel. No the taxes and insurance are detrimental to all the overpriced homes.
Buildings are extremely expensive to repair, insure, and maintain generally. Building codes can be financially crushing.
On top of that, Govmnt wants taxes endlessly. . Be very careful. Know the TOTAL cost before you buy.
especially for those older homes that were "updated" that they basically dashed some paint and cheap faux granite tops on.
Interesting point. If I were selling a house, and some stranger wanted a tour w/o a real estate agent, I wouldn't let him / her in. It doesn't sound safe.
Many of the top NYC financial institutions are moving to Miami-Dade County and the vicinity.
New York has become unlivable
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 6 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Lois Jean Frueh is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
To understand the US real estate market, you must understand what I term the fundamental theorem of US real estate, namely *civilized* *people* *won't* *tolerate* *murder* . This is why a given house might cost $5k in one city and a nearly identical comp might cost $2M in another. There is no general affordability crisis, only market-specific ones. The problem, of course, is that no one wants to live where houses can be bought for $5k because there's appreciable chance they'll be randomly ended there.
We put in a offer for a house in Hemet CA, The owner tried to start a bidding war with his house. Then went up from 550K to 585K. Its still on the market.
If you were the owner you would do the same thing
@@richardball7251 No. People have allowed their unfettered greed get the better of them.
$35K is not that much money. If you lost out on a house that you wanted over $35K, you weren't really that interested or can't afford a house to begin with. Money comes and goes, but some houses are unique and are in great spots (corner lot). Those don't come around that often.
@@DIVISIONINCISION there a lot of whatabout in that statement.
@@DIVISIONINCISIONhave you ever been to Hemet, CA? I'm surprised any house there would be listed for that much!!!
When we are outpriced of the housing market it will severely affect other "unrelated" businesses because homeowners buy furniture, shop locally, etc. Everyone will feel the pinch eventually
Requiring Buyer Broker Agreements to show someone a home should be illegal! Previously, NAR supported price-fixing on commissions and now they come up with this bull$hit after ridiculously agreeing to the recent settlement terms.
@@CaptainJimNoss Pay a lawyer when you only want to see a house?
REALTORS ARE SCAMERS
It will be a benefit to long term established agents and prevent a lot of the tire kicking.
@@genegarrard7839You don’t have to use one. Just pay a lawyer instead.
Just another way to keep people from buying.
Good videos, you’re telling the truth. Not going to be a buyers market til the banks repossess these homes. Everyone’s underwater pretty much everywhere. Also another problem is people can’t get qualified for a mortgage, credit has tightened, and to qualify you have to have a qualifying debt to income ratio…so with high rates they’re simply not getting pre-approved. DTI ratios are a huge problem right now..they were barely qualifying with rates in the 3’s and 4 percent ranges…7-8% is forcefully keeping them sidelined.
Everybody that thought their floors were made of gold are going to get screwed. I Love it.
@@geocam2
Correct 💯
How's the rent, bet you love paying someone for permission to walk on their floor.
@@geocam2
You weren't sposed to get that reply it was for the dude worried about the golden floors...
People for whatever reason who own are fortunate.
I can only get one more house before I'll be maxed out for at least five years.
All good!
@@joekeegan-yc4nm if you own you're paying rent to the government. Rent never goes away
Stained concrete is definitely the way to go. Cheaper than tile and looks better.
Michael, I watch every day. You bring the truth. The housing market is flooded with over priced homes. The sellers are trying to cash out because they know wont be able to pay the taxes, insurance and upkeep that is gone up so much.
This content is particularly fascinating to people in the English speaking part of the world because it shows us potential future scenarios that haven't yet reached us. For example, in our case in the dead centre of England where it is 5 hours drive to each corner of England we pay £3600 local tax per year which is nothing like the property taxes you pay per year. We could downsize now that we are retired but certainly don't have to. It seems that your property taxes are unaffordable, as is medical care in some circumstances. I first travelled to America in 1993 at which time in the Dallas area of Texas the new build houses on golf courses were comically cheap. We saw $60,000 houses that to us were very impressive and the exchange rate was $1.90 to the £. In fact for decades everything was cheap in America. Over the years we travelled to many states where we stayed with hosts. Everyone we met were kind, generous and had leisure and freedom. Since 2008 though, everything seems to be falling apart and your leadership choices seem to be unelectable. We understand why you're ranting and contrasting and questioning Michael. Where DID it go wrong? Why doesn't life add up? Why are Americans leaving to live abroad? Incidentally, my insurance on my £500,000 house is £240 per year. That's because we don't have hurricanes, tornadoes, wildfires or earthquakes.
It went wrong when elections became perfunctory. Americans no longer choose their leaders. 2020 showed the world the truth.
Love your content! It's very realistic and unbiased!
FYI...DOJ has made several updates to this since this video 🤦🏻♀ they keep changing things up. I suspect the reality is... they had no idea what it is Realtors truly do until now.
One thing to note (at least for now until they change that too lol)... the buyer can sign an agreement instructing their agent not to show them any property that is offering less than a certain commission. So the buyer does have some sort of control in this matter...and can control what they will pay out of pocket, this way at least. They can also, just make the offer asking for the seller to cover the commission, even though they weren't officially offering it. It can now be treated the same way as when we negotiate concessions. This is going to be an interesting year!! We will see how it goes!
Talk a little bit about where you're walking. We are so excited you are featuring our bay area!!! yay
Nick has a very good understanding and an accurate tool with his app. He’s the most accurate there is.
🎉🎉🎉 I think that all new buyers should have to pass some kind of basic knowledge tests to be able to even make an offer on a house. I hope that made sense. Your information is always so important to anyone trying to buy a house.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
Some new buyers utilizing certain first time homebuyer programs actually do need to.
Michael, I will be looking forward to seeing your “man on the street” perspective on San Francisco. In 2006, the homeless population was around 50k and I would like to know what it is really like without the politics. I appreciate your videos so much!!!! Thank you!
NYC is a hell hole. Don’t feel sorry for them
Have you been to Los Angeles recently? now that's a hell hole
@@geocam2 LOL
Stop following MSM propaganda. I live here over 25 yrs and News media hype all crime statistics. 8.7 million folks is home for NYC residents
So, don't live there, and don't bother us about it. Anybody can say that.
They voted for this
Wow…glad we’re closing on our condo in Florida next week for literally twice what we paid 6 years ago…AND we overpaid then cause it was just a vacation home we thought would be our 2nd home forever😁
Back in the day, people bought a home close to their job. That was the most important thing. Now people are acting crazy!!
Nope bedroom communities have been an item for many many years.
@@Joce123 since the end of WW2. Levittown, NY was one of the first. Built for returning WW2 GIs and families
Well now many jobs are remote, so it doesn't matter where you live.
@@Joce123You're both confusing. What does people acting crazy mean? Then you respond with bedroom communities. Both of those make no sense.
I’m a teacher; there is no place near my school that is affordable for the likes of me
Michael Please don’t stop reporting what we can’t depend on Worldwide News or our local news reporter’s to let us know. Thing’s are getting worse and many people don’t have common sense. Michael your doing a job👏👏👏👏
This is the scenario being described: I found a house. I want to see the house. I have to agree to pay some random person 2% of the price of the house to walk through it with me. I also agree to pay him for any other house I find and I look at in the next 30 days. Who would agree to this? Why would anyone pay a "buyer's agent" ANYTHING? They provide NOTHING. There is no SERVICE of any kind. If this description of the situation is accurate, it should cause a huge increase in people buying directly from sellers. Which would be a good thing.
I agree very little value
They are nothing but go betweens and errand boys for the lawyers.
Michael, I have been watching your channel for several weeks, just became a subscriber. Thank you for the simple, easy to understand the way you explain the things going on in real estate and our economy in general. God Bless.
I live in Manhattan, Covid crashed because it has turned into dystopian city
Great Video, keep up the great work. I look forward to your Video every day!!
Star Trek Deep Space Nine character ODDO has your hairstyle, it never changes
Is Michael a shapeshifter?
Weyoun saw the housing crash before anyone else, founder is wise.
Good afternoon, Constable.
@@UMNightlife well OBVIOUSLY you are all wrong. He has Data's haircut from TNG 😁
@@estuardo2985 no he is a member of the Dominion, an empire where things are affordable.
Keep up the good work brotha, most of your information you provide, most people won't even bother searching themselves.
Land that has water rights and can grow food will never go out of style.
I never buy without water/ mineral rights.
By the beach, Salt water?
I'll drink your milkshake!
Rhodesia's prime minister Ian Smith thought that too, didn’t work out that way though.
your commentary on the new rules are accurate and I just wouldn't want to work with real estate agents at all to buy a house because of how gross the new system makes me feel.
If you're going over to SF make sure there's nothing visible in your car, and do your walking in a good neighborhood, like Sea Cliff.
Michael, I like it when you repeat stuff to remind us not to forget. Ignore those haters.
I have a friend who bought his house in CT in 2005 for a million dollars. He sold it 14 years later for $835k.
Nice loss-!!!😭.
Would love to see you visit SF and look at the real estate situation there! I lived in SF as a renter during the second tech boom and I don’t work in tech. Crazy ridiculously high rents during that time…. at least we had rent control, which anyone who wasn’t making those big tech salaries absolutely needed.
No one I know ever says, "Lets move to New York". No one!
I enjoy your show, it is your show and You do it well. I need to hear things multiple times before I can grasp it sometimes / Thank You Michael .
Real estate does always go up. But you must want to hold 15-30 years.
True....but you still don't want to buy when prices have risen to extremes....like now. It could take 10 years to recoup your investment, and that isn't ideal for anyone.
@AngieTaube agreed. Do opposite of the herds and the fomos and you'll be fine. But even real estate survived ww2 , the great depression and real estate is reset always in any new currency.
The gaslighting about housing prices seems more extreme now than in 2007. Virtually everyone I talk to in California believes prices are still rising ( low end buyers dropped out so median sales price rose as sales volumes catered) and will go up indefinitely. The marketing machine for mortgages (real estate) is paid based on size of the loan and should be paid hourly based on hours worked.
They also used to believe a tulip bulb was worth 5 years salary 😂. The herd will turn…. It’s starting
Can't afford means can't afford!
Thank you Michael. I really appreciate you for teaching us the truth. 🙏🏿
We're on the edge of the financial abyss.
I’m inclined to agree. Or maybe I’m UA-camd myself into a doom loop. However, this is a time to prepare
@@RootBeerGMT If you don't owe money you don't need money.
44% down is a good start especially when the housing shot up over 200%.. everything in New York is over $1 million…..I don’t know who can afford that
Nobody.
90% of NYC is a dump
San Francisco is gone now hardly any restaurants or retail jobs Metlal Leo a UA-camr walk around San Francisco it’s bad fisherman’s wharf and the restaurants on the north beach are gone now deserted sadly if the lay off continues and inflation don’t drop high interest rates doesn’t drop continue to rise minimum wages most of USA will end up like San Francisco .news don’t show u all the business closed in San Francisco all the leases on the building.
It's too confusing to sell/buy/move; I'm staying put and will continue to age in place.
Great video Michael…definitely not directed at investors like myself but I think you’re educating a lot of people that are not very familiar with real estate purchases…and I sure hope you wear one of your BEATLES t-shirts in an upcoming show 😊
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires..*
Waking up every 14th of each month to 210,000 dollars it's a blessing to I and my family... Big gratitude to Barry Silbert🙌
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Barry Silbert
he's mostly on Telegrams, using the user name
*@Barry719*
✌💯🇺🇸
Home prices are SOO obscenely overinflated (in general) that 23% drops are meaningless. They need to drop 80% to become affordable to all but the 0.1%.
Those neighborhoods in NYC where real estate values fell are neighborhoods no one wants to live in because they've long been too expensive. The areas people want to live keep going up and up. The property taxes, insurance rates, and building maintenance are insane. If a 1 bedroom IKEA quality apartment was $1.5 million and is now reduced to $1 million, that's still stupidly expensive for a small, builder grade apartment that's worth $500K. In Greenpoint, Brooklyn, values went up 15% and comparable to Manhattan prices just a few years ago.
I agree, using Manhattan as an example of real estate values in the metro area doesn't workout. Sort of like comparing Manhattan prices to upstate in a small city or village, and averaging out what is going on.
Talk about it Michael! No problem here hearing things again!😊
PLEASE HURRY UP. My taxes have increased ~20% year after year for NO REASON other than these absurdly inflated and false home values. It benefits me ZERO since I am not trying to sell.
Your house is a stock, except instead of paying dividends, the state is taking them from you!
@@DIVISIONINCISION It really is all just a bad joke at this point
Basically it sounds like you just need to go get a brokers license and then you can buy and pay yourself
Yes! A little quiz and much cheaper than paying commissions.
Michael is Riding the lightening 🎉
I just listened to the album today...it's been a while...very coincidence crazy
I'm here in Orange County CA and had to deal with a completely cracked out dirty homeless woman panhandling in the El Pollo Loco drive through today. That is the first time in my life, anywhere in the US, I've seen that.
No house is worth 15mil ! People are literally bonkers about money
One of your best and most informative videos. Well done! Great drill down on the new NAR rules. Thx!!!
If I were in the market to buy a ‘real’ house, I absolutely would not look at any houses if I had to sign an agreement JUST to look at it. I would be like ‘I’m out’. I would not buy.
Just me
then you would have to deal with sellers agent terms to see the house
Thanks to you and Orlando, I sold early 2023. I'm still waiting to reenter the market for 2 reasons. 1. I think prices will continue to go down. 2. I work in tech and need to see what happens in that space.😊
You can go see a house at an open house without any agreement. If you like it, have the listing agent represent you to write up offer and other documentation. No fees for buyers.
yeah but you are only limiting yourself to open houses where there is ton of completion usualy
NYC, through unbelievably awful policy, seems to intentionally crashing its real estate market.
Who winds up owning all that property when the dust settles will determine if it was done intentionally.
They said you will own nothing 😮
@@nancysalerno7036 Bingo. Own nothing and be happy.
Now they want you to eat the bugs too.
@@sdrape4964there’s more to it than that, the elite of the world would rather you not exist. The goal is to get world population way below a billion people.
We have never had buyer agents in New Zealand, the concept sounds weird :-) You simply go around houses, have a look talk to the real estate agent and if happy then get your lawyer involved with the purchase agreement and everybody is happy. I think this is how it works around the most of the world?
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Very true. Despite having no prior investing knowledge, I started investing before the pandemic and pulled in a profit of approximately 950k that same year. In reality, all I was doing was getting professional advice.
how can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. who is the driving force behind your success?
I'd say a little due diligence on "Dianne Sarah Olson" truly exceptional
thank you for this tip. it was easy to find your coach. Did my due diligence on her before emailing her. she seems proficient considering her rèsumè.
Will Chicago follow NYC and SF?
I’m 25 years in the real estate mkt & business. The current mkts make zero sense to me
Michael can check what happening in Boyton Beach some condos honers sell there condos for nothing!
How come?🤷🏻🥵
The Federal Reserve is the Master of Puppets, Michael. No rate cut this year. 🤣