California on verge of collapse. Housing crisis causing mass homelessness.
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- Опубліковано 5 вер 2024
- California's housing market continues to appreciate in 2024, despite record worst affordability. These rising prices are causing a housing affordability crisis that is leading to many people being homeless.
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Particularly in Orange County, California, where real estate prices are up over 10% in the last year and where the typical value of a home is now over $1 million. Home prices and rents in California have gone up so much in 2024 that local residents cannot afford it.
And now many people are being forced to leave the state as a result. Almost every county in California is experiencing outbound migration according to data from the US Census Bureau. Including Los Angeles, Orange, and San Diego Counties. This is where home prices and real estate values are highest.
Many realtors in California are also now feeling the pain of this slowdown. Home sales in the region have dropped and buyer demand is very low due to these increasing prices.
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Pretty absurd what's going on in California right now. Home prices up 10-15% YoY in SoCal despite record worst affordability.
Ultimately - this is not sustainable. Millions are leaving and at some point there will be a reckoning that causes prices to crash (as always happens in CA).
However - we need to see rising inventory for that to happen. Head to www.reventure.app to track inventory levels in your area of California and see if the market is moving in the right direction for you as a buyer.
Not to worry just buy metals. In lebanon1oz of gold is 200+ million lira. Make your choice😢😢
They want the taxes on property. If the housing bubble pops tax revenue will drop and they don't want that!😂
Property taxes keep increasing every year and they want rent control!!!! Property taxes are also due in 2 days!!!
Americans do not buy the houses here because they cannot afford it due to their large spending! That is why other people buy it! Tell Americans to stop buying houses in Japan, Thailand, and Costa Rica than because they are doing the same thing!
You should not hold a phone while you are driving. This endangers not only you by others on the road.
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.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Many will be forced to walk away, just like in 2007-2010 era.
I’m in San Jose and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalises. If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Yeah, financial advisors could make a lot of difference, particularly in a market such as this. Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look. I have been using an FA since 2019, and I return at least $121k ROI, and this does not include capital gain.
I'm glad I came across this exchange. Could you tell me how I can contact the financial advisor you trust with your money, if that's okay?
“Sharon Ann Meny” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Sharon on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighbourhoods. Then you’ve got Better, average sized homes in nicer neighbourhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance, Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.
‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Back in 2007, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit. The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder's plastic still covering the carpets.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
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.
Mind if I ask you to recommend this particular coach you using their service?
Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
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 want 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?
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Pass legislation to stop hedge funds from buying single family homes and to stop foreign investors from buying houses.
Yep, between hedge funds and foreign money these account for like 30% of purchases.
Right they should only be able to buy commercial property. They should make it where the only way they can obtain housing is either building from the ground up (ONLY SUB-DIV/ MULTI LOT). Or if a house has been listed for over 6 months.
Yes
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Contemplate shifting your investments from real estate to other dependable options such as stocks, cryptocurrencies, or precious metals. Severe recessions present potential buying opportunities in the market, but it's essential to approach them cautiously due to the volatility that can provide short-term trading possibilities. While not offering financial advice, it could be prudent to consider investing, given that holding onto cash may not be ideal during this period.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
This is a really interesting take on the housing market. 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?
Safest approach i feel to tackle it is to diversify investments. By spreading investments across different asset classes, like bonds, and international stocks, they can reduce the impact of a market meltdown. its important to seek the guidance of an expert.
It's true that many people underestimate the importance of advisers until their own feelings burn them out. A few summers ago, following an ongoing divorce, I needed a significant push to keep my company afloat. I looked for licensed advisors and found someone with outstanding qualifications. She has contributed to my reserve increasing from $275k to $850k regardless of inflation.
That makes a lot of sense, unlike us, you seem to have the Market figured out. Who is this coach?
Iynne Marie Stella is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I am so happy that i made a productive decision about my finances that changed my life forever. I am a single mother and i live in Florida, i bought my first house in September and i hope to retire next year at 50 if all goes well. Thanks to Mrs Judith M Layton for helping me achieve this.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
You trade with Judith M Layton too? Wow that woman has been a blessing to me and my family
I'm new at this, please how can I reach her?
I was skeptical at first until I decided to try. It’s huge returns is awesome! I can’t say much.
Many people can afford to live there because they bought property a long time ago and their mortgage payments are low and they earn high salaries. The new arrivals, that’s a different story…
I don't feel bad.stayed in the same dump for 24 years and did all the rehab myself. While freinds were going into debt on vacations and toys.
Exactly
That is true everywhere. Cost were lower then, as were earnings.
It’s the boomers. They are greedy. Real estate is an investment not winning the lottery. They sell high and take their woke entitlement to lower housing areas. Somehow they think they are better than others. In time, they will cease to exist and things will settle back.
@@brianmatthews4149exactly what we did with real estate in California.
Foreign buyers should not be allowed to buy properties in USA. Chinese buyers destroyed SF where a lot of houses during last housing collapse were snapped off market by Chinese cash buyers.
So Nancy Pelosi and Kamala were making commissions😂🎉
The Chinese want American houses too..
Japanese did this too in the 80’s. They eventually barely broke even when a correction came.
Ironic how Americans would get laughed at in China trying to buy property there.
Chinese? Give statistics and stop farting fear hate mongering. Chinese are probably only 2% of all foreign buyers, like in Australia but u mf's exaggerate and blow it out of proportion..
Residential Homes are for people, not corporations or foreign buyers. Time to make that a law.
Agreed. But that will not be enough to make housing affordable in CA. They MUST reform zoning laws to make it easier to build new housing.
Stop blaming the buyers chief. Its the laws that stagnant and disincentize building new homes
Rich people are financially smart, or hire people that are, and will just funnel their money to make it seem like it's a person. Can't stop it.
@@venicechris It can be stopped. Time to make it a law.
@@bryanwong1625no it's the buyers
I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.
Certain Ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I.
this is all new to me, where do I find a fiduciary, can you recommend any?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
I’m in Long Beach and I’m sick of the Homeless problem. They light fires, leave junk everywhere and attack people. The LA County Supervisors spend millions on Homeless but it gets worse. When do you think prices will go down? I would like to sell and move to Mexico.
Hopefully this month's new ruling which lets cities arrest homeless will help.
Mexico has strict home-buying rules for Americans too. Unless you are a Mexican national, you may run into some problems.
Bye
Unfortunately because the majority of voters in CA/LA believe that you can juggle both homelessness and hard working tax paying citizens at the same time with the same degree of priority and care, hence they vote for liberal representatives, we will continue to get the same results in the future. Our current representatives will do nothing about getting the (often) dangerous homeless away from our kids, because it's "cruel" to do something like that. The mentally ill and the sane do not function well together, just look at what's going on. There should be a further degree of separation, but liberals would never allow for this kind of action.
You mean … the state leadership has misappropriated billions meant to help the people….. oh well … at least they aren’t trump
Foreign buyers shouldn’t be allowed to own land in the USA
How dare you tell me who I am allowed to sell my property to.
Mexico does not allow foreigners to own property.
@@draveed And who the hell are you to say foreign Nationals have a right to own property in the USA
Or illegally invade and leech off the rest of us.
@@draveed Are you joking?
We bought our home for 260k in 2011 and live in Escondido. My husband said our home would be worth a million dollars someday and I laughed. He was right!! It’s crazy!!
I work for an RV company in SoCal. We have seen a huge influx of people buying trailers not to vacation in, but to live in because they can't afford a home or apartment.
I left California, my daughter and her family left California, their friends all left California. I live in Scottsdale now, always shocked how much more expensive EVERYTHING is in California. At least 30% more and housing is 50% to 100% more expensive than Scottsdale.
The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings losing value because of high inflation. Where else can we keep our money?
@@EdmundEthan093 Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
@@roxdietren this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@@AlfredStephen127 My CFA claire robert's durand , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Why is the Chinese housing crash a US problem ? Why are they allowed to buy here ? Such BS. Our government is horrible
Uhmmmm it ain't just China btw
@@wxieqdsiwevbks90%
The only way Chinese can get their money out of the country is to buy abroad because of China's capital controls.
@@StrikeBolteafc A Kamala government would put us in ruins. And Biden was MUCH MUCH MUCH worse.
@@shawnasantos228 dunno I just feel is if there is someone elese will be running ffor the US president from the Democrats. I dont know why and who. I hope not Gavin yipes that would be a nightmare scenario.
I rented in Los Angeles because I couldn't afford to buy.
Before I moved in, the run-down one bedroom was $1800.
My rent was $2400.
I moved out and the landlord raised the rent for the new tenant.
The rent is now $3600.
That means the rent doubled in seven years.
Los Angeles just opened a new luxury apartment building, but it's only for the chronic homeless. No help for families or working people. As my sister once said, if you want help from the government, get addicted to crack or enter the country illegally.
This is because the american housing market is not regulated, so landlords can drive the price up to infinity, only the losers are themselves, because afterwards nobody can or wants to pay, and they are left with their empty houses and rotting away.
But they don't think that far ahead.
$3600 is student housing in LA, in this video he's talking about $1.5m level rent, who's paying that level to rent poorly built tract homes in a middle class neighborhood? makes no sense, something is missing
@@VenturaIT Money laundering. I know that for a fact. 1/3 of all SFH in Beverly Hills are vacant, bought for cash by foreign buyers who never occupy the properties. They borrow against the asset and voila! The money is "clean" (laundered). The registered owners of these SFH are shell corporations and tracing them back means another shell holding, and another, and another.
I think you should leave the state and move to the south with your kin and STAY THERE!
real messed up priorities, the government has. i have heard and read from many people this is all done by design, not accidental. but the question is why? why intentionally sabotage and plant the seeds of self-destruction to your own country? what is the endgame in all of this the powers in charge are hoping for?
and if the government is screwing americans’ livelihoods without a care or second thought, why are we the people still kept obligated paying taxes to a government that doesn’t serve the interests of its own citizens?
I live in California, coastal town. We vacationed in Florida for 2 weeks. Absolutely horrible weather, 🥵 And I don’t know how people live there. You basically have to be indoors 90% of the time. Weather here is what is a major factor.
I don’t understand how anyone can live in Florida or Texas, terrible weather! I live in Carlsbad, a coastal town close to San Diego. Beautiful weather all year long. I’ll never move, we got lucky and bought our house in 2012 @ 2.3 % interest
housing prices are just insane!! its crazy. I’m a new dad, I moved from Tampa to Santa Clara a few years ago and I’m thinking of purchasing a single family home there. is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? Looks like NVDA, TSM and AMD and AVGO are strong buys this week.
it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.
well you could put a downpayment on a home and as well diversify as much as you can into Ai, energy and big pharm. stocks like Pfizer and JnJ, ASML, MLM and S&P 500 ETFs.
Certain ai companies are rumoured to be overvalued and might cause a market correction, I’d suggest you go with a managed portfolio, but even those don’t perform so well, so it’s best you reach out to a proper fiduciary to guide you, that’s what works for my spouse and I making a whooping $738k in Q4 last year.
I’m an art collector, this is not very new to me but has a nuance to it. Can you assist me? how do I find a fduciary
Great, I've taken a look nd reached out to hr team .I've sent an email nd requested a call to discuss my situation. Wht can I expect from our convo? Will she be able to offer personalized guide ?
California is actually beautiful.. mountains, beaches, valleys deserts..all within 2 hours
$6 gas lol costs $300 to drive there
@@VenturaIT I just paid $3.95/Gal today in Orange County. But don't ask me about rent, lol
@@derekmorgan3015 maybe at a cheap station that mixes it with alcohol and for regular... I'm talking about 91 octane from Chevron... what's rent down there? last I paid was $5.499 in Ventura.
I love it. I'll never leave if I can help it.
@@ljmac64 cartels murdered an entire family near Visalia recently, sounds nice...
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6 people, including a baby, were killed in a ‘cartel-style execution,’ California sheriff’s office says
By Stella Chan, CNN
2 minute read
Updated 8:05 AM EST, Tue January 17, 2023
At least six people, including a mother and her 6-month-old baby, are dead after an “early morning massacre” Monday that authorities in Goshen, California, said may be related to cartel activity.
Deputies who responded to reports of gunfire after 3:30 a.m. Monday found six victims, including two who were in the street and one who was in the doorway of the home where the gunfire erupted, Sheriff Mike Boudreaux told reporters at the scene.
The mother, who was 17, and the child were both shot in the head, he said. Among the other victims was at least one man who was taken to the hospital but later pronounced dead.
The person who reported the shooting “thought an active shooter was in the area because of the amount of shots being heard,” Tulare County Sheriff’s Office said in a new release.
“We do have family that has been escorted from the scene, we do have survivors,” Boudreaux said, saying investigators had yet to determine how they survived what he said was a “horrific massacre.”
The attack does not appear to be a random act of violence but may be linked to gang activity, the sheriff’s office said, noting it comes a week after deputies executed a narcotics search warrant at the home.
While rival street gangs frequently engage in acts of violence in the area, the belief among investigators is that Monday’s massacre bore characteristics associated with a drug cartel, with a heightened level of brutality and sophistication.
While investigators cannot confirm the shooters were from a cartel, the sheriff thinks it appears to be a “cartel-style execution,” Tulare County sheriff’s spokesperson Ashley Schwarm told CNN on Monday.
Drug cartels have notoriously engaged in deadly violence, including the deployment of hit squads against perceived enemies and members of law enforcement that threaten their drug trafficking efforts.
Detectives are looking for at least two suspects, the sheriff’s office said.
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life..
I want to compliment you, you have said it all. I am a little business owner and I really want to expand my business to the next level by making myself an investor but I really don't know how to go about it..
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
@@aaronferrell3129 You are right. Been thinking of going into gold and cyptocurrency
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
You’re right but a lot of people remain poor due to ignorance
I heard rich Chinese people are buying these homes
Are the homes near military bases?
True
What if house ownership were restricted to individuals who are American citizens? This would reduce demand for houses from foreigners and investment companies like B!ackrock.
That's a partial solution, but the housing shortage pre-dates the large number of foreign buyers by a few decades.
They are not going to pass laws to go against themselves 😂
The real problem is that there are a whole lot more people than houses. Reducing the amount of buyer would not fix anything but only further increase rents.
Sales tax on stocks and real estate, increase property tax for each owned property, tax on non lived in by owner houses and rent limits. Housing has become an income commodity for the rich.
In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?
The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.
I agree. Based on personal experience working with an investment advlsor, I currently have $985k in a well-diversified portfollo that has experienced exponential growth. It's not only about having money to invest in st0cks, but you also need to be knowledgeable.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Her name is “Annette Christine Conte” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
While the rest of the country is dying from heat, hurricanes or tornadoes… Californians are at the beach with hoodies on at night. A place less impacted by climate change and where you can find women that don’t weigh more than men… California is undervalued. I own in LA county. It’s tough at times, but then I remember what it used to be like when I lived in Texas 10 years ago.
I live where the US vacations. Enough said
A place less impacted by climate change ? What?
Lol California is the only place that has fit chicks?
Yep. Born and raised in California, left because of its problems, but we’re moving back this fall. Other places have these same problems, they just aren’t broadcast because people love to focus on California, and I understand why.
Well, congratulations! I grew up on the beaches of Southern California. The culture is completely changing. Foreign buyers and people from other parts of the country with lots of money are coming here and scooping up everything. It’s gross and disgusting.
Literally the only reason I can’t leave. Everywhere else sucks so bad I can’t move
Thanks for doing SoCal. I live in SoCal and I'm a very patient prospective buyer. One factor that you left out which helps explain the cost of living is that pay in CA is very high compared to other places. For instance, we just moved from Pittsburgh where my wife (a nurse) made $75k. Same job in CA pays $160k. Our rent is only $1000 a month higher for a much nicer place. Other cost of living is not that much higher. Gas costs about $30 more per month, income tax is only 3% more. We clear A LOT more money in CA than we did in Pittsburgh and we have the best weather in the USA, perhaps in the world. Not for everyone, but we tried to move away (to Pittsburgh) and couldn't stand making less money and living in such a depressing place. We were out in 10 months. We know other people that tried to move away but came right back. The politics here are annoying but my response is always why did the conservatives leave and take over places like Oklahoma and other flyover hellholes and leave the best place in the US to the liberals? Come back and take the best place in the USA back instead of running away like a frightened child.
Spot on!
The real question is are you ever going to be able to afford to purchase a home in Cali??
You’ve got it right! I lived in SoCal for a year （move from middle state） and love this beautiful state so much! you can drive 60 mins from 70F to 110F, and experience Elevation 0 to 10,000 ft！ with great landcaping, you can find nowhere in the world! Almost everyone I met was reasonable and open-minded, even the new immigrants. It's strange why conservatives haven't managed to gain a strong foothold in such a beautiful state. I've always believed there is cheating issues with the vote counting, It's hard to believe that New-Poi-som is the result of a democratic election. If California had an emperor who passed the throne to his son, it would be much better. At least an emperor would know how to maintain the kingdom.
I concur. If you have a stable professional career and good credit score you can definitely effort it. I started out with a small condo back in 1998 and now my house is worth 2.5Mil after trading up a few times.
I'm trying so hard to get back home!!!! I worked overseas because it was easier than moving to another state. My family came from Alsace, France in 1870. Los Angeles is my roots, but considering North. I feel like I must defend my pretty State. And country. It's just you and I.
Chinese buying, especially in Orange County, is nothing new. That's been driving the prices up for years.
🎯🎯🎯
How do they get the green card to buy houses?
Money is the only green you need
@@davecopp9356 I don't think you need a greencard to buy a house in the U.S.. I don't think.. I'm not entirely sure though. But I know the Chinese buyers have been a thing for a number of years now, especially in Orange County.
@@TheMonkeygrunt Interesting. I thought one need a legal status such as a green card to buy a house in the USA. I am European and I would love to buy a cheap house in KY USA.
You mentioned that there is a restriction on building. Having been born and lived in SoCal my entire long life, I can tell you that our infrastructure will not support anymore building in outlining ares re: Riverside County and spreading out into the Desert area . Observing growth and traffic in the Bay Area as well as Seattle I’m observing the same Dilemma. Until there’s mass transit for commuters we are all going to suffer the consequences of housing inflation.
You've hit on a great point here, Californias government is broke as it is and struggling to maintain the existing infrastructure. They can't even begin to develop new infrastructure.
You're 100% right about our infrastructure not being able to support even 1 more person. AND we have no water and local governments *refuse to look into building more water desalination plants.
Yes, developers have gobbled up every piece of buildable land for decades with no or little thought to infrastructure. Schools, hospitals, roads are totally impacted with more than they can handle. When I'm in SoCal I can't believe how the housing tracts and stores go on and on and how that has spread out to all the little side cities everywhere. SoCal is full at the inn. I'm glad people are leaving. There are 49 other states that can share their state with some of our 40 million citizens.
Sounds like they should build more infrastructure
The state faces a significant challenge if builders are reluctant to invest here. There appears to be potential for individuals to purchase inexpensive land and profitably sell a sustainable mass-manufactured Boxabl Tiny home. However, restrictive zoning laws currently hinder this possibility.
Brother.
You have huge balls for preaching this for years and there have been no housing crash.
I applaud you.
Check your numbers. Texas is down crashed. Florida is crashing. Boise, PHX, Vegas, Nashville, etc
The national median is a misleading stat.
I'm single, on my 30s and financially stable. I own a two story house with 4 bedrooms, and 2 bathrooms. I live alone in the house, and I don't have kids. The mortgage is already paid off so I don't need to worry about paying monthly mortgage. Owning a home feels peace of mind.
System’s broken. Courtesy of Central Banks (ie, the Federal Reserve). And foreign capital’s code for BlackRock.
No, people voted for it!
System is broke, and the Fed has some to do with it. But it is more due to 40 years of (unfunded) tax cuts, that are increasing the US national debt, but increasingly enabling very high levels of wealth concentration, which in turn escalates asset prices. The central bank has been shrinking the money supply for nearly 2 years now, but that hasn't slowed the increasing wealth concentration.
@@ArtIsDrawingnope. Half of Americans do not vote. It’s literally a lack of ppl voting that gets these things passed, gerrymandering, redlining and political corruption.
That's true, but California has made matters worse with local and state housing policies.
No, it’s mostly due to single family house owners lobbying for themselves. The investors are just finding opportunity made and served for them.
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
💯
Yup
We know, but there is nothing we can do about it .
@@johnconnor7501 it is an unconstitutional act usurping a power designated to CONGRESS in Article I.....cannot be transferred without an Amendment
zionist jewz
Born in Central CA, raised in Southern CA...CA is NOT what it once was😢
Throughout my lifetime, it has been highly regulated; but it is out of control! Crime has risen, and it is scary! The cost of living is astronomical...not to mention the fuel expense! And locals must compete with the foreign rich for housing!...😢
I love my State; and I feel stuck...😢
crime is way worse in red states
Just do whatever it takes to GTFO. You've probably already stayed too long. It's not going to get better.
Just Google “states with highest homicide rates per capita”
@@mysticaltyger2009 who the fck are you to be telling people where they should GTFO from? We hang on to the hope and try to get things passed and implemented to make Californians'lives easier.
Fresno here 1200 square foot house my power bill was 750 in june
Almost 40% of California home buyers pay all cash. There is no imminent crash.
I lived in SoCal, Orange County for 26 years and got tired of the traffic, taxes, home prices and general everyday expensives. In 2016 I bought a house in my new state (No State Income Taxes) and paid my mortage off for a 2660 SQF house in 8 years and I only put 5% down, now I have a $550,000 paid off home. I only miss the ocean, but if I want that I have any beach in the US or the EU to go too 😎
Interesting, you do t say what state you moved to. Why? Embarrassing?
@@markpb4767probably don’t want more people to move there
@@markpb4767 Nope, just don't put personal information online!
I left in 2015 bought a property in AZ for 185k for $1k/mth. I am glad I left at the time I did. CA prices are crazy there is Michael Bordenero who talked about how much foreign are buying which is around 54,000 homes out of 6mil from 2009. This number is small it’s not foreign buyers buying up real estate it’s black rock large investors who will buy these homes and rent them. It is unfortunate that we allow Businesses to buy block of homes on a street and rent them out which will then kick out the people who are looking to buy houses. I don’t care if the weather is 70 degrees all year long living in poverty isn’t for everyone. Glad I left 👋🏼
Yeah this is what in currently trying to do lol you left at a good time
Numbers do not include purchases of newly built homes. NAR’s Report was based on realtors replying to a survey sent out. Many realtors did not reply. Do you really think most of the non-citizens working as a realtor were honest on that survey. I’d bet they were not and the number of foreign buyers is a lot higher, especially after including new homes.
We moved here, and then Blackstone bought everything and closed the door for many.
It was blackrock and other corporations but today he is correct. The people CURRENTLY buying are foreign. Same in Miami. Regulation is a liberal concept and people are beating up Newsome for being liberal. The world is upside down due to all the BS put out on the media and that includes the podcasters on UA-cam. The entire housing market needs to be regulated federally. No conservative out there will be in favor of that. They are for the "free markets". The free markets got us into the 1929, 2008 and the asset bubbles we are in now. I lived in CA for many years and left. Good thing you went to AZ first instead of Florida. The affordability problem is worse in Florida in my opinion. At least in Az the jobs pay a livable wage but the same affordability issue is here too. It's due to the lack of regulation. No republican will ever be for regulating any market yet that's who the people are lining up to vote for? It makes no sense to me. This guy in the video is an investor so he more than likely will be for free markets/no regulation. I left FL during the peak of the bubble and rented till 2010 then I bought my brand new home for 80k on a short sale back in 2010. Az has been good to me. The job market is the best I have seen but another housing crash is on the horizon. I saved a lot of cash for this one. We'll see how it plays out.
California is only for multi millionaires. If you are not a millionaire, your flat broke in California.
Id rather live in California than in Florida or Texas
Go ahead
Your delusional liberal enough said 🤦♂️
Taxs an tornadoes 🌪
That's wonderful to hear. Texans and Floridians thank you!
I own property in both CA and Texas. They are just different. But I don't see one being better or worse than the other. Same with the MidWest.
Invest in the financial markets before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth
I feel sympathy for our country, low income people are now suffering to survive yet inflation and recession keep increasing daily, many families can't even enhance the good cost of living anymore. You've helped me a lot Sir Brian! Imagine I invested $50,000 and received $190,500 after 14 days
Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.
Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things
Some persons think inves'tin is all about buying stocks; I think going into the stock market without a good experience is a big risk, that's why I'm lucky to have seen someone like mr Brian C Nelson.
Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
Thank you ! please make more videos about California, North and South
To be a successful business owner and investor, you have to be emotionally neutral to winning and losing. Winning and losing are just part of the game. Risk comes from not knowing what you are doing.
Many new tra-ders struggle without proper guidance. I found success through James Clark's expertise.
@@korkyketexactly that's why I always seek Mr J Clark's guidance in all I do 😊
James Clark's market insights have consistently led to profitable decisions.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
I have lived in CA my entire life. Only doctors and lawyers can afford these prices. Also, there has been a migration from the San Francisco Bay area down to Southern California because the bay area has been economically destroyed.
What do you mean by the Bay Area has been economically destroyed?
Newson destroyed the once great state of California. I lived there in the 1980s and it was great and I still think its the best place to live as far as their weather goes but Newson is destroying it.
@@StrikeBolteafc 1. Highest Cost-of-Living in the Nation 2. Soaring Crime 3. Worst Homelessness Crisis in the Nation 4. Weakest Election Integrity in Nation 5. Helping Human Traffickers While Creating a Border Crisis 6. Failing Schools - And Attacks on Parents 7. Negligence Creating an Insurance Crisis 8. A Pattern of “Pay-to-Play” Politics 8. Destroying Direct Democracy by Gutting Citizen Initiative Rights.
Newsom is the worst governor in the history of the state. Just ask all the Californians leaving California for other better run states.
FAX
@@StrikeBolteafc You investing in the Kool Aid too? No clean natural gas but no electric grid to replace it, high speed rail to get money from the feds for his unions, welfare, corruption, drugs, crime, illegal immigration at record levels. Yeah, Newsome is your hero.
"Politics is now and always has been just the clever and deceptive art of using euphemisms, lies, emotionalism, and fear-mongering in order to dupe average people like you and me into accepting and demanding the chains of our own enslavement."- Larken Rose. The Dangerous Superstition.
California is so different than every other market in the United States. It's hard to describe to those who don't live here.
Why don't you try to explain how your California market is different then the rest of the world
Yeah, all these right-wingers.Trying to save some tax money.LMAO They gonna love Texas/FLA etc coming from California.They'll all be back Within a couple of years..😂
@brianborkowski5977 I'll try to explain it to you. Regardless of this dude's whining, cali is the greatest state in US.lived there for work for 4 months. Ever since been trying to figure out my way to get back there.I'll pay whatever it takes.I would much rather have HIGH quality of life and little money.Then live in a swamp with $$% lol
@@brianborkowski5977 Reventure says it well here. We didn't build anything after the GFC. The state government HATES single family homes. People are stuck.
@@GNARLOUSE What can you do with no money in California to provide a high quality of life? Sit at your overpriced home, not go anywhere bc gas is the most expensive in the country, not buy anything bc you dont have money left over from paying for your overpriced house, etc. I'm really curious how California is providing you with this amazing quality of life.
The housing market does not cause homelessness. Poor choices cause homelessness.
Hey, LA local here. I'm surprised you haven't had a conversation or looked into Prop 13 which greatly favors homeowners who hold on to their properties a long time.
Also prop 8 and prop19
That's right, let's kick granny out of her home because she can't pay yearly property taxes more than she originally paid for the entire house
Get rid of prop 13, that’s when the shit is really gonna hit the fan. When they redo the tax assessment, the rest of the country is gonna feel that shit.
@@thedopplereffect00if granny dies a 100% of the capital gains should go to the state instead of her heirs. Shouldn't be able to eat the cake and have it too.
@@geneevans7885 prop13 limits the increase at 2%. Transfer of interest or new construction could trigger a reassessment.
I'm in Real Estate. Originally from SoCal. Moved to NM in 1978 and moved back in 2017. Got my RE license.. I've worked with several national builders and most of the buyers were foreign nationals. Mostly Chinese. It's an anomaly. Back in the 60s and 70s, homes were affordable around 15 to 25k. Those homes are now 1 million plus. Anyone who hung on to them has built generational wealth and moved out of state and paid cash for a new bigger home.
It's not sustainable. I agree. I think this bubble will burst and people who overpaid will be in a world of hurt.
You'd be surprised. Lived here in San Diego my whole life. Most who move away, come back (like you did) often because of the weather and beaches....that's not easily replaceable in other states that are cheaper. You get what you pay for, most of the time.
If you want to see wealthy Chinese buyers, book a flight to Sydney, you're just seeing a fraction of the buyers.
If you ain't a multi millionaire, you got business being in California. Not no more
That is not what "anomaly" means
@@CristinaDavalos1127 Chinese want to live in SoCal mostly because they want their kids to have a good college/university education. The UC system is the world’s best public university system.
I Live in the same area, I Love Living in So Cal, I dont mind paying High taxes, Property Taxes are lot less than Texas, Easy to insure where I live, No Sink Holes , or High Humidity, Big Mosquitos, Sandlots, Hurricanes every year, Close to the beach and desert, Great weather all year around, Have Lived in Florida and Texas.
People have been saying California housing market is wildly overinflated for the last 60 years. Yet there remains a seemingly endless supply of people willing to pay and have the resources to do so. That fact has not changed in the last 60 years and I suspect it's not going to change over the next 60 years.
With foreign investors, domestic investors, Airbnb and proposition 13 helping keep property taxes low I don’t see California home prices falling. And if they do, they might only fall 5 or 10%. California is one of the most desirable places to live in the world. I was born and raised in San José, CA.
I remember a time when you walked into a neighborhood with homes and you would see kids outside playing and riding bikes. I guess that time has long gone and will never return. Kind of sad. Beginning of the end or the middle of the end?
I see that every day in my neighborhood in CA.
Yes, my friend lives in Laguna Nigel and all the homes in her neighborhood have been Chinese buyers with cash. Multi-generations living together.
nice. better they move here than the blks
Multi-generation living is pretty common outside North America. It makes it easier on the wage earnering parents when they have the grandparents at home to pickup kids after school, shop, and otherwise do the daily house tasks. Also have built in baby sitting. And then they pool their money so the kids have money in college and can focus on their studies. And repeat for the next generation.
I wish we had that sort of support when our kids were young. It would have been a great stress reducer and help generate more family wealth.
@@JBoy340a me too
I’m Chinese, I live in a 1.5 mill dollar home in LA with my daughter, mom and grandma. It’s 370,000 per generation
Foreign investors , and private equity!
As far as Tech jobs? it is just a myth.
I thought that pension funds were buying houses as investments??
That's only one piece of the problem in CA. CA has been underbuilding for decades.
You have to realize that the slightly older generation 40s-50s have been in their careers or had their businesses for several years and are making decent money. Many SW engineers, nurses and even tenured teachers for example are making well over $120K especially in SoCal. A lot of these folks are married with high dual income and purchased homes 10-20+ years ago so they’ve got plenty of cash coming in and tons of equity to put down on these houses.
My plan was to move to CA a decade ago. But something happened that killed my dream...I because an expert in personal budgeting and knew it was impossible.
I'd have to make 8k+ a month to afford it. I honestly would feel cost burden if I made less than 100k a year for a one bedroom rental. If you're making less than that, you really shouldn't be living in California. The state belongs to the wealthy now. The service sector shouldn't even exist there.
That really depends on which part of Cali that you want to live in. There are rural areas that are way more affordable but you have to sacrifice some of your quality of life to live there.
$1.5M!!! Tustin isn’t even that nice.
Exactly. Really nothing special
Uhhhh didn’t he say this 3 years ago?
Yep. Tustin is like the budget part of Orange County.
Sellers are just trying to fleece the sucker who buys their
Home. Its up to the buyer if he/she wants to pay so much.
I think the main point you glossed over was private equity buying up all existent single-family homes. If California built 10,000 homes. Private equity would buy 10,000 homes and keep them off the market.
They're never going to let the market correct again, as long as they own all the property they can continue to manipulate the market and the home prices. I was born and raised in Los Angeles, California. I'm 62 years old.
Private equity started buying up homes in 2008 and has not stopped. In the neighborhood I grew up in there are homes that are still empty from 2008....
When the market crashed people lost their houses and private investors pooled their money together and bought foreclosures hand over fist! And started flipping them and then more investors came in and bought those houses and started renting them out for lots of money. They should give landlords a deal on capital gains if they sell it to a first time buyer and not accept any cash prices.
you mean cartels and the mafia, right? no legit business can just keep buying if rent doesnt afford a profit, something else is going on
Private equity buys very few homes and they do in all the USA. Yet in many states prices are down
I remember back in 2008 to 2012 foreign investment groups from Canada and Asia buying foreclosures in Southern California. The government imposed a moratorium on foreign investment to give first time homebuyers first chance on buying houses. When SoCal real estate market hit rock bottom in late 2012 the government started to manipulate the real estate market again. In my neighborhood, houses had dropped to $250k and now in the $800k to $900k plus range. Now inflation has embedded itself into the economy and there’s no going back even with a market correction.
@@chew34 down from the peak, not down from 2016 prices which were already too high
A perfect storm is brewing in the United States. Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place. It's all coming together and it could lead to a real disaster towards the end of this year (or sooner). With inflation currently at about 6%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
These are the conditions in which life-changing money is made by those who remain calm, patient, and take controlled risks. Volatility goes both ways. The bigger the red candles, the bigger the green ones.
Investing in stocks can be a wise decision, especially if you have a dependable trading system that can lead to successful outcomes. Personally, I've been working with a financial advisor for about a year now. Starting with less than $200K and I'm now just $19,000 away from making half a million in profit.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same. Is there any chance you could recommend who you work with?
Finding financial advisors like “Iynne Marie Stella” who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
I've been here my whole life and I don't know anyone who wants to leave or complains about about home prices. They've always been high, but you have to buy when prices are down.
After 40 years of homeownership I sold my home 2 years ago, and am now a renter. Might not buy home again. Love renting.
based, enjoy your retirement
You were lucky enough to be born during a time where it was possible. Most people born after 1985 were not so lucky. Enjoy that you got lucky.
That is the worst thing anybody can do. Selling off house that was bought 40 years ago. You got greedy because of high price you were able to sell it. But now, you are stuck with rent that might keep going up and up and owner might not renew the contract if they need house for whatever reason. Packing and moving at older age will also not be that fun.
The amount of people in the California neighborhoods that I grew up in that could afford to repurchase their current homes today basically dropped to 0. Eventually this will have to change one way or another.
However, they could sell the house, take all of the equity and buy a bigger house here. People take a half a million in equity and buy a million dollar house to replace it. That's how people afford property here.
I live in Mission Viejo why would anyone want to leave Orange County California best place on earth to live on earth
I would leave OC for SD. But that is only 60 miles down the coast.
Tustin ain't Mission Viejo 😄
except for the lady murdered at the mall in Laguna Beach at the Barnes & Noble
Surprised to see you so close to home. I’ve been following you for a few years and I’m considering moving to San Antonio Tx. I’m a fist time home buyer and I’ve put off purchasing a home in these insane conditions. It’s depressing to tour properties and see how old, small and expensive they are. I’m a school psychologist making decent money, good credit no debt other then student loans and I simply cannot see myself getting stuck with an old expensive home.
Appreciate your education observations based in on actual reliable data -your app is insane just genius!!!
I'll take the politics of California over the politics of Florida any day 🤗
Amen brother. A lot of problems in California caused by government. And inflation. Thank you
Good video. I think this is why we aren't seeing prices dump in Arizona.. Californians are still fleeing a hostile environment
lol "hostile environment' California is utterly beautiful. Arizona is a fly over state where housing is 4-5x less. Congrats Arizona the dollar tree of America when it comes to housing. Californians that are poor flee to poor states like Arizona
70% mortgages are under 3%.
These people aren't paying $10,000 a month in mortgages
No, especially because people who are buying single family houses here already made a killing in their previous property here.
Nick doesn't consider the supply side: the fact that high interest rates limit the supply as the seller will be challenged finding another place to live where they would have to accept a higher rate. Not somebody who should be giving advice about real estate to anybody.
Two years ago nearly all mortgages were under 3%. The question is where the threshold is. 0% under 3% would be an impossible crisis level to hit even a decade out, but certainly somewhere inbetween there's a breaking point. No one can afford a house until we hit it though.
@@Pangora2 Nick is right. In California, the much bigger problem is lack of new housing. This has been a problem for decades, but the NIMBYs who are in control like it that way.
@@dan-qe1tb Correct. Only those who can afford to pay cash are making out well. Selling a home that is paid off in California for 1.2 million and then buying into another state for 400K where the combined 30 years of payment and interest is 870K plus HOA fees and taxes as well... it's hardly a win. Because the interest rates are obscene. Only a few percent are making out, and those were the people who sold 2 years ago. Now, it's super tough to actually sell anything, despite the "value" being so high on paper.
Another problem in Ca is the regulations to build. It adds so much to the cost of production which is passed on to the consumers
You’ve been saying the market is going to crash for the last three years and it has not
Left California in 2009 and never looked back.🙂
Tex ass
So far no one has missed you.
@@jimmycrackcorn99 this is the type of attitude and reason why you're seeing a mass exodus. Instead of seeing the fundamental reasons WHY people are leaving the state people like you have the entitled attitude of "we are better than everyone else." The state is bankrupt, has a homeless and illegal immigration problem, absurd cost of living and the highest income tax rate in the nation with lowest quality of life indexes. K-12 grads come out illiterate but teachers are highest paid in the nation.
ONce you are out of cali you wont be able to come back here.
@@sdfv4zx Burning through 400 a month in savings just to barely keep fuel in my car to get to work wasn't sustainable in my case. And I was working for UCLA. Yes, making "good money" at the top of my field and still having to shop at thrift stores and behind on bills. And that was 7 years ago. Now, all of my co-workers except for two have moved on and are working in other states. 90% turnover in 7 years due to obscene costs and a state that refuses to raise salaries.
Half of children in california are under medical , something is seriously wrong with this state.
We're approaching universal health care. Eventually everyone will have Medi-Cal!
@@amardave84 Every industrialized nation has uniform health care. Except USA. Pathetic.
@@amardave84I can't picture that happening inasmuch as the insurance and pharmaceutical companies control our congressmen.
What does “under medical” mean?? Bad bot
@@driz77 That's not even close to true.
I really don't get how people survive here. I make more than 250K a year and I barley am able to save anything. I believe the average income here in LA is around 80K a year. I just don't get. It seems that most of the homes in LA/OC are being bought by people that have sold their home and are upgrading or multiple families are buying a single family home. At this point I am stuck because of my job. I have to stay until I retire, if it weren't for that I would have been gone.
Multiple Chinese or Indian family members pooling money. 2 or less income earner households can’t compete. Many illegals spilt a 2bdrm for 8 people, check all the cars parked outside some places.
Same with my husband. He could have retired last year but can't for some years now.
Get married.
This is why the population is declining and is now at 2008 levels
I make $160k and was able to buy a house in November of last year in CA. If you make 250k and can barely afford to save anything that's not the state's fault.
20 years ago, my thought was as your thought now,
But I was wrong, it kept going up and up.
it’s crazy, California has the best weather
In SoCal, every properties I have been looking at the past two months have gone above asking price and I’m not talking about a beach front house, just copy/paste regular houses in normal communities.
You mentioned that building is booming in Arizona. But there is a huge problem looming there and thats the decline in quality water. This will prove to impact housing on many levels and soon.
When I was in mesa az it is 100% not safe to drink the water. It has loads of what I would assume is limestone and other groundwater particulates that will give you instant diarrhea.
Damn straight. California is the best place in the country to live. Expensive for a reason.
California is a state for multi millionaires. Everyone else stay away
Then why is the population at 2015 levels
@@chew34 fools following Elon Musk and Joe Rogan to Texas during Covid. I think they thought Moving there was a better deal, but it is by far not.
@@chew34 California is full. There is no room for more people. If you want to live there, you need to outbid somebody else for housing.
Actually everyone is now moving to Texas.
I was born and spent most of my life in California, moved to Nevada because I couldn't take it anymore. Excessively high prices and high taxes but the roads are still bad, K-12 schools perform poorly, and yes like Nick said the POLITICS!!
California politics are ruled by San Francisco and parts of L.A.. Since those are the major population centers. Virtue signaling is a HUGE. As such you get people supporting things because it makes them feel good about themselves but not thinking about repercussions. They screw themselves over and then complain about how hard they have it.
I love living in SoCal. The surf is great, friendly neighbors. Many came back after moving away ❤❤❤
Thanks for focusing on Orange County. Mission Viejo, Tustin and Irvine are good markers in the so oc market.
A few things Orange county is probably one of the most expensive cities in california. Mar vista is not an affordable area its close to the beach and a beautiful city. I would agree the government is so lenient on crime and people setting up tents all over the place. But they do tax the hard working people and make small business so hard to do business here.
Every week for the past 4 yrs I've been hearing. "It's not sustainable. The housing market going to collapse!"
I'm sure you'll be right one day.
Well we do know that it's not sustainable long term.
A toped clock is right once (or twice - analog) a day.
But the weather is awesome
Look, I’m a normal guy, 65, retired 10 years ago and lived my whole life in CA, 55 years in SF and the last 10 in the Lake Tahoe area.
I can surf, snowboard, skateboard and ride motocross all in the same day.
I couldn’t imagine living anywhere else…
But it is true, in 2008 my house dropped 1/3 in value, it’s tripled in value since then 😎 👍
Foreign cash buyers have been buying in OC for many years, it’s nothing new. Also so many people buying with trust funds and gifts from parents etc. It’s not a normal market, and I wouldn’t expect it to crash anytime soon.
I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
I opened an online high-yield savings account with 5.12863% interest compounded daily, expecting to get $2,500 in interest on my initial $50,000 at the end of the month. Instead, I only received $420. When I inquired, I was told the interest is calculated daily, which was not clearly stated on the website. My partner advised me to divert into stocks through an advisor, and in just six months, I achieved over 80% capital growth, excluding dividends. Highly recommended!
Pls how can i meet this advis0r? i want someone to help me invest my divorce settlement, It's just being laying around in the bank without much interest.
Melissa Jean Talingdan is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She’s really good
I work with Melissa Jean Talingdan as my licenced advisor. Simply look up the name. You would discover the information you needed to schedule an appointment. She is excellent.
*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?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Barry Silbert, has been an amazing experience.
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
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
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?
What will break is that the lower economic classes will have left, meaning that service industries and basic infrastructure will collapse. Imagine if you wanted to get a coffee and there are ZERO coffee shops in the area as they all went out of business. Even Sttarbucks. Laundromats. Hardware stores. Auto repair shops. Just miles and miles of housing and the occasional strip mall or big box retailer. And everyone just ordering from Amazon. This isn't about minimum wage, either, as minimum wage still isn't enough to keep employees. 15-20 an hour isn't even liveable, not when gas is almost $5 a gallon and you are paying $100+ a month to park at your work. When your commute to get to work is an hour each way. It isn't that the shops can't afford $20 an hour. It's that to keep employees in those jobs and not leave for another state, they would have to pay $30 an hour. You can offer $20 an hour and you only get the most desperate bottom of the labor pool applying. At that point, you dump the business and move to another state as you're under-water and have no talent to grow your business ( 18 year olds right out of high school won't get you very far in the long-term) with, no matter what you do.
I see soon many restaurants with "help wanted" posters. Some fast food places have 2 employees running the whole operations
@@mikhailtronik4322 Correct. Because minimum wage when rent is $2500 a month is basically now a hobby job for retirees only. That is, if they can even manage to give you more than 20 hours a week.
Great video and insight into California. It’s too big of a state. you should check out the difference in home prices and cost of living in SoCal and NorCal and make a video
As a person who grew up in Southern California and a first year realtor in Las Vegas, I'm so grateful to you for this informative video. Thank you!
Newsom just passed a law where any seller needs to disclose and show a permit for work done within the last 18 months.
Also, hundreds of thousands of homes are being built in Riverside County. The houses in RC is cheaper, so the people in LA, San Diego, and Orange County are moving to RC.
yes build 100,000 homes, and no business , drive for 4 house a day to commute
@@cardboardboxification exactly. Most people here commute over an hour each way
Riverside Co. and San Bernardino has many housing permits and lots of available land, unlike LA and OC.
Hi from Irvine. I agree with the every single word in the video
Stop mutual funds buying homes . Buy to rent from corporations is hurting the regular working class buyer.
Home prices are up inventory is down
It’s going to boil down to nobody doing nothing California is still the best place to live like it or not
The average income in orange county is about 400 to 600k per family. By the way the grocery is very cheap, the weather is great, very safe, excellent schools. Many people from all over the word move to Orange county.
$400K, really?I make $30 and can't get Medi-cal or any assistance . I also am not a thief, drunk, or drug addict. Just the working poor.