Why Housing Keeps Getting More Expensive

Поділитися
Вставка
  • Опубліковано 22 гру 2024

КОМЕНТАРІ • 2,3 тис.

  • @SecondThought
    @SecondThought  2 місяці тому +298

    Hey friends! Hope you enjoy the video. If you're looking for a good way to support the channel (and get access to a bunch of cool content while you're at it) consider signing up for Means TV! You can find my content there, plus original series like Means Morning News and feature-length documentaries like Abby Martin's Gaza Fights for Freedom. Means TV is cooperatively owned, so all the creators on the platform have a stake in its success and a say in how things are done. By signing up using my link you're directly supporting not just me, but the entire cooperative media project. Check it out!
    means.tv/orders/customer_info?o=70845&d=SECONDTHOUGHT

    • @davidoh14
      @davidoh14 2 місяці тому +6

      Real question; MeansTV or continue SecondThought Patreon? I'd rather use my tight budget to make a change and know how you see it as best.

    • @sigmavitali333
      @sigmavitali333 2 місяці тому +4

      reganomics: endgame

    • @ninakochan7
      @ninakochan7 2 місяці тому +3

      Can you please 🙏 Do a video about Section 8 Rent to Own homes 🏡? Is it a trap? Can any of you fine gentlemen or ladies help with this information? Is it the cure for homeless? Is this a chance for the American Dream? Can we have a discussion here and hopefully a video can educate us on how this is even possible. Thanks to all who read this and know legit info ❤
      Yes this was a repost. I'm really serious about finding all information about this ❤

    • @Rompelstaump
      @Rompelstaump 2 місяці тому +2

      How do we oppose them? What can we do to change the inequity in society?

    • @TheFabledSCP7000
      @TheFabledSCP7000 2 місяці тому +1

      Yet again, you found a new sponsor
      But Hakim is still stuck in your basement
      #FreeHakim
      Did you at least bring him with you when you moved?

  • @jer1776
    @jer1776 2 місяці тому +1251

    Buying a bunch of concert tickets to upsell them back to people: Scalper
    Buying a bunch of homes to upsell/rent them back to people: Investor
    Can we stop differentiating the two?

    • @erkinalp
      @erkinalp 2 місяці тому +16

      apparently it's scalping when it goes backwards but investing when it goes the other way around

    • @ivybee347
      @ivybee347 2 місяці тому +31

      Ticket master does the same and isn't called a scalper for some reason. And they raise the price of the tickets.

    • @jester_kun
      @jester_kun 2 місяці тому +3

      the scalper is just selling the same concert tickets back to people. the investor is renovating the homes most of the time to resell it which takes a lot of capital and time

    • @jmacindc
      @jmacindc 2 місяці тому +58

      @@jester_kun "renovating" in the cheapest way possible with subpar materials and shitty quality. it's a waste of time, money and resources. home owners tend more likely to renovate for livability and quality

    • @houndofculann1793
      @houndofculann1793 2 місяці тому +40

      @@jester_kun no, the investor is definitely not renovating newly built housing that they buy brand new to rent or upsell forward. Also, as shown in the video, the investor will also intentionally keep some of the supply entirely empty and evict their tenants more to raise the rents of the rest of their properties more. That doesn't take any capital or time, that just takes being a selfish asshole.

  • @erinperez6083
    @erinperez6083 2 місяці тому +458

    An elderly lady owned the last apartment building we lived in. She never raised rents, and people had been living there for years. She passed and a company bought the building. All of a sudden we were billed for our parking spot, for water and trash that used to be included, and the laundry room was going to be removed so that the building could rent you a washer/dryer monthly instead of per use. Thankfully we were already planning to move out since we inherited enough from a grandparent for a down payment in a house, because our rent was about to increase from all of the nickel and dime crap the new owner was implementing. They still won since they remodeled our unit and were then renting it out for hundreds more than we were paying.

    • @189Blake
      @189Blake 2 місяці тому +51

      You had where to go, imagine the people who didn't have a choice 🥲

    • @erinperez6083
      @erinperez6083 2 місяці тому +29

      @@189Blake yes, I understand, which is why I phrased it as thankfully. I am aware that I was privileged enough that the sale of a grandparent’s house put me in the position to afford a home and that I am able to work remotely where I didn’t have to stay in a place where the rental market is that predatory. I vote for people who protect the livelihoods of those who need it most and have not become a NIMBY.

    • @gr8bkset-524
      @gr8bkset-524 2 місяці тому +6

      While I sympathize with the tenants, perhaps they can look at the flip side and be thankful that they enjoyed many years of below market rent?

    • @allanchino35
      @allanchino35 2 місяці тому +21

      Based on what was just described in this video the “market” rent is way higher than it should be

    • @appletree7595
      @appletree7595 29 днів тому

      ​@gr8bkset-524 no one enjoys renting. Especially younger people who want to stay family. Even old people retiring are not selling then renting is not fun for anymore. Landlord are cancer

  • @scifirealism5943
    @scifirealism5943 2 місяці тому +470

    I couldn't get section 8 housing when I was younger because I attended community college- going to community college or university disqualifies you even if you're poor.
    Now I'm 29 and going to school, I still can't get subsidized housing because I'm "able-bodied without dependents."

    • @Maxry-v2y
      @Maxry-v2y 2 місяці тому +85

      There’s always something exclusionary,that’s what they kept telling me too

    • @scifirealism5943
      @scifirealism5943 2 місяці тому +10

      @@Maxry-v2y that's messed up

    • @plantbasedsenior4240
      @plantbasedsenior4240 2 місяці тому +55

      I'm from Canada. When I hear stuff like this, I just shake my head. They really do not want your population educated.

    • @scifirealism5943
      @scifirealism5943 2 місяці тому

      @@plantbasedsenior4240 yep

    • @scifirealism5943
      @scifirealism5943 2 місяці тому

      @@plantbasedsenior4240 yep

  • @aaronraycove9517
    @aaronraycove9517 2 місяці тому +431

    I just think it's not okay to exploit basic living necessities for profit.

    • @Ryan_hey
      @Ryan_hey 2 місяці тому +57

      It's funny because even Adam Smith thought landowners were leaches, and he wrote the Wealth of Nations, capitalism's bible.

    • @blue_wolfproductions12
      @blue_wolfproductions12 2 місяці тому +1

      Agreed

    • @coolioso808
      @coolioso808 2 місяці тому

      You think correctly. Capitalism is a dirty game. No honour in that system that we were born into without consent.
      Do we dare have brave change? Well, dare to vote differently, dare to organize communally and broadly along common dreams.
      Vote Green, Stein/Ware 2024 who support a Green New Deal and against the US-backed ge n-0cide in Gaza.
      Organize locally, see ways it can be done from Library Socialism promoted by Srsly Wrong Boys and Andrewism to Zeitgeist Movement and Ubuntu Contributionism. There are ways out. If we choose them.

    • @eddieloujones2673
      @eddieloujones2673 2 місяці тому +2

      I thought I was the only one. I really can't stand people that gobble up housing at 3 percent rates just to lease it back to the populus. I seriously wish there were a reckoning of some sort where the government started taxing these hoarders.

    • @SurpriseMeJT
      @SurpriseMeJT 2 місяці тому

      @@Ryan_hey Don't forget who can kick you off your land if you don't pay taxes on it - the government. Do you really own your land if you can be evicted from it by the government?

  • @shoveI
    @shoveI 2 місяці тому +1023

    Cities need to be taxing empty units. The street in front of that building costs the city money whether there are occupants generating tax revenue by living their life or not and every city spends a fortune dealing with unhoused people so an empty unit represents a liability to a city. Tax the sh&t out of empty units until the price of housing makes sense.

    • @nfzeta128
      @nfzeta128 2 місяці тому +138

      I love this idea. It's a bandaid but an effective one and even makes logical sense. Also f's those algorithms encouraging landlords to have higher vacancy rates.

    • @RDHardy79
      @RDHardy79 2 місяці тому +96

      This is a great idea. However, the tax rate would have to be high enough to offset the profits gained by leaving them empty, or else it has no teeth. Kind of like the laughable fines we levy against multi billion dollar corporations that break environmental regulations. They would rather pay the fines than pay to update their infrastructure or change their practices.

    • @britefeather
      @britefeather 2 місяці тому +9

      Ever heard of LVT?

    • @britefeather
      @britefeather 2 місяці тому

      Technically it only needs to shift the opportunity cost of doing anything else with it. ​@@RDHardy79

    • @gonozal8_962
      @gonozal8_962 2 місяці тому +9

      @@RDHardy79just tax the mean/average rent for that housing, whatever is higher

  • @ryanreviews8566
    @ryanreviews8566 2 місяці тому +1889

    damn, Reagan really screwed the world over huh

    • @nutmegriot209
      @nutmegriot209 2 місяці тому +261

      i just hope newer generations will know it started w/him. the current voting block hasn’t seemed to notice

    • @ishathakor
      @ishathakor 2 місяці тому +241

      frr every single time i wonder why something bad is like that in the us the answer is always ronald reagan

    • @JRDShamrock
      @JRDShamrock 2 місяці тому +112

      Its gonna fucking happen again if they let orange man win.

    • @mom.left.me.at.michaels9951
      @mom.left.me.at.michaels9951 2 місяці тому

      Leeja Miller has an amazing video called " Regan Ruined Everything" that really breaks down exactly what policies and how much they broke down America's economy.

    • @Maxry-v2y
      @Maxry-v2y 2 місяці тому +20

      Aww shucks wasn’t he just adorable,that’s what they kept telling the public back in the days

  • @troywalkertheprogressivean8433
    @troywalkertheprogressivean8433 2 місяці тому +2680

    Rich people hoarding creating artificial scarcity in every industry.

    • @Praisethesunson
      @Praisethesunson 2 місяці тому +138

      Artificial scarcity is the only way to make profits.

    • @hashbrown4781
      @hashbrown4781 2 місяці тому +223

      "You need to spend your money to keep the economy going."
      - Every billionaire hoarding their money

    • @TohaBgood2
      @TohaBgood2 2 місяці тому +14

      How is the scarcity “artificial” if we stopped building new housing 40 years ago but the population kept growing?

    • @Kitajima2
      @Kitajima2 2 місяці тому +146

      ​​@@TohaBgood2Corporations and rich people will buy swathes of property to deliberately leave them vacant to artificially boost the value. There are millions of unoccupied residences. It's nuts

    • @ZalamaTheDragonGod
      @ZalamaTheDragonGod 2 місяці тому +61

      ​@@TohaBgood22:28 literally the first thing he addressed

  • @seancatacombs
    @seancatacombs 2 місяці тому +538

    The only "mom-and-pop" rentals you see on the market now are room rentals or a microstudio in someone's backyard. And they still cost as much as an apartment a few years ago

    • @greg_216
      @greg_216 2 місяці тому +34

      You don't see them on the market because tenants of mom and pop rentals don't move out. My family owns one rental property and our renters have been with us for more than 10 years.

    • @AYAKXSHI
      @AYAKXSHI 2 місяці тому +20

      @@greg_216 this my mom got a mom n pop house as a rental we stayed at the house until the lady sold it so she could retire with her husband we stayed in the home almost a decade n even added personality to the house the eventually the new owner kept

    • @tehduffman
      @tehduffman 2 місяці тому +6

      That just isnt true. I live in Chicago and the majority of rentals are people with less than 5 buildings

    • @TroubleinZION
      @TroubleinZION 2 місяці тому

      If racism and classism didn’t exist we wouldn’t be here. Legislations like these were designed to target poor people and especially people of color. Plot twist, racism also affects the majority negatively despite how convincing the propaganda surrounding it may seem. I see wayyyy more homeless white people than I see any other culture.

    • @paulbrungardt9823
      @paulbrungardt9823 2 місяці тому +2

      Did you vote for Biden / Harris ? -- IF so, you voted for this !

  • @Celis.C
    @Celis.C 2 місяці тому +680

    I'm stuck in burnout precisely because of BS like this. I can't 'progress in life' despite earning 1.66x the national average, having plenty of savings and still not being able to get any residency worth my while, EVEN OUTSIDE OF THE CITY.
    Discussing explaining my qualms to my psychologist, I got told that _"we live in one of the wealthiest countries on the planet and should be happy with what we have"._ They're missing the point. I COULD afford a third rate piece of shit apartment at a quarter million bucks, but that doesn't mean that it's worth doing so.
    In the end, this whole scheme is self-defeating and self-destructive. If people can't afford housing, the entirety of civilization will collapse within half a lifetime. Someone living on minimum wage can't afford housing, meaning they can't do their job, meaning that vacancy can't be filled, meaning no one will pick it up BECAUSE it's minimum wage and that doesn't get you anything, meaning the job that society is built upon will die out sooner rather than later, with all the dire consequences that comes with.

    • @Matok1
      @Matok1 2 місяці тому +136

      I do get really tired of hearing people spout the "you live in the wealthiest country" tag line. We live in the country that has the most debt, 35 trillion and counting. It is home to some of the wealthiest people that exists, but also home to the most in debt people that exist. Living in America does not mean you're rich, it in fact for an increasing number of citizens means you owe a lot of money while not actually owning anything.

    • @Celis.C
      @Celis.C 2 місяці тому +66

      @@Matok1 Thing is, I live in the EU, which is effectively a giant vassal state for the US. The 'Americanization' of the continent is nauseating...

    • @badbabybear1
      @badbabybear1 2 місяці тому +75

      I feel you. Systemic exploitation is hurting us all.
      I've grown to view therapists with skepticism despite being pro-mental health help and talking things out. A lot of them pin the blame on individual people and refuse to acknowledge the inherent corruption in the culture.

    • @daviddobarganes9115
      @daviddobarganes9115 2 місяці тому +73

      ​@@badbabybear1 America has soul cancer. Other people are a threat. Tragedies are daily. Empathy is weakness. Your choice of products is the highest expression of self. We are forced to make shit we dont care about all day long and our compensation is divorced from our productivity. And all of this is daily told to us to be paradise, all the flaws in the system are simply failures of self. It is absolute madness.

    • @Ouranos369
      @Ouranos369 2 місяці тому

      ​@@badbabybear1 it's that way by design
      They placate and medicated individuals so they can better cope in a sick society. Just like the medical industry it's about treating symptoms more than the root cause. I mean half the food industry is there to make u sick. I was thinking about honey and glycation... Honey is anti-bacterial and anti-fungal naturally (I saw it under a microscope no germs) because of the high sugar content. Your human gut needs healthy bacteria in order for your health to thrive. Therefore eating too much sugar would eventually kill all your gut bacteria and probably attack your cells because we have like so much bacteria and I really get diabetes now. Sugar also affects your brain as Alzheimer's is sometimes called type 3 diabetes. Sugar is one of the worst things you can over eat and it's probably in 70% of food in stores. Excuse my autistic rant.

  • @ChrimsonFoxdon
    @ChrimsonFoxdon 2 місяці тому +763

    The mobile home grab will always make me angry. My grandparents were outpriced and pushed out of their trailer park, and ever since they've been floating between my family, my aunt, and my cousin. And they STILL vote conservative!
    This doesn't even go into my own housing situation.

    • @shanescott8241
      @shanescott8241 2 місяці тому +62

      Leopards ate their face

    • @monsieurdorgat6864
      @monsieurdorgat6864 2 місяці тому +63

      Jesus... It almost makes it hard to feel bad for them. Insane that they can be so brainwashed that this shit can happen to them and they have no way of understanding the real reasons why.

    • @IGetIntoArgumentsForFun.67
      @IGetIntoArgumentsForFun.67 2 місяці тому +1

      Well, there is nothing materially different between "conservatives" and "liberals " they are both right-wing neolibs .

    • @MsFallenPrime
      @MsFallenPrime 2 місяці тому +46

      And voting progressive surely helped California - oh wait!

    • @ey67
      @ey67 2 місяці тому

      Americans have been too stoopido to live since TV saint Ronnie Reagan. Voted themselves out of existence. Mission accomplished

  • @bluedotdinosaur
    @bluedotdinosaur 2 місяці тому +179

    And here's another side of this that's terrible: the existing housing inventory is being destroyed due to neglect. This is a hidden crisis unfolding in front of us. Housing isn't being treated as a place people live for generations and raise families in. It's now a commodity to be hoarded, traded, sold, and spun. It's wasteful to invest money in upkeep - genuine, deep, necessary upkeep.
    The result is that existing homes and buildings are falling apart. Rotting from the inside out because banks, investors, slum lords, etc do not want to spend a dime more than necessary to keep these places barely livable. Even individuals who own homes, thanks to now looking at them as investments to eventually flip and trade up from, are not maintaining their homes like they should be. They don't want to spend when they're just going to flip the home and move out. At most they'll pay for a cheap surface renovation to make a property look fresh - but underneath it's decayed.
    The result is it's becoming impossible to find a home even at a premium price that isn't a wreck. If a home wasn't built within the last 20 years, it is probably a mess. But prices keep rising and we're looking at the prospect of "million dollar flop houses" being the standard.

    • @DistrustHumanz
      @DistrustHumanz 2 місяці тому +22

      I have experienced the opposite when it comes to house age. Modern houses are built with much more cheaper materials, and only last 25-30 years before needing to be completely demolished and start over again. When someone gets a 30-year loan for a house that lasts only 30 years, they are losing all equity; in fact, losing more than they put into it when accounting for the demolition bill. Houses that are 70s and older tend to have better quality materials, especially the wood. You still have to look out for, and replace, things such as electrical lines and ducting, but that is still worth the effort. I bought a house that was made in 1977 that everyone else passed over for newer houses; most people only look at how a house looks instead of how its made. After two years of putting in the DIY work, I now have a very presentable house for a fraction of the cost most people pay. And it is solid in build quality and safety, not just presentation.

    • @Iquey
      @Iquey 2 місяці тому

      You described my dad. Just say waiting for my childhood home to slide off it's foundation someday down the hill into the driveway.

    • @jordanmurray410
      @jordanmurray410 2 місяці тому +2

      And even if it was built 20 years ago or less, it was probably done as cheaply as possible and will start falling apart within the next 10 years if it hasn't already

    • @rdmctague
      @rdmctague 19 днів тому +2

      Even if you buy an older home you have decades of idiot DIYers doing dumb stuff with the best intentions. I bought a home and expected to be able to repair it to a livable state but I swear every wall, floor and ceiling I opened up I saw some new horror. Severed framing to run utilities, the wrong gage of wire used everywhere, asbestos tile covered up with linoleum covered up with ceramic tile, rotting wood with new wood just slapped over it, the list goes on. Don't let people lie to you that builders today are astronomically worse than builders of the past, just because something has been standing for decades doesn't mean it wasn't built by a low grade moron.

  • @nutmegriot209
    @nutmegriot209 2 місяці тому +336

    plus our walls are made of tack board and aren’t solid. our living spaces are extremely cheaply made

    • @jordankohl2130
      @jordankohl2130 2 місяці тому +47

      Quality has gone down as housing prices go up. Reinforces the point that it's the liquid asset that's valuable, not the physical one.

    • @Maxry-v2y
      @Maxry-v2y 2 місяці тому +6

      I’m paying $1100 for a half carport made studio in south Florida, only microwave I purchased, no furniture,made cheaply had too fix the plumbing 3 times, pay my own internet service,only air conditioner and its old

    • @badbabybear1
      @badbabybear1 2 місяці тому +8

      this is very bad with climate change exacerbating extreme weather events. the cheap houses built won't be able to withstand these stronger hurricanes.

    • @anthonydelfino6171
      @anthonydelfino6171 2 місяці тому +6

      yup....
      there's not even insulation in the walls where I live. Few years ago they had to replace some of the drywall because it literally started falling off... and they could have easily thrown some fiberglass in there while the walls were already collapsed... but the landlord even then refused to insulate the walls of the apartment. So we boil when it's warm outside (because we also have no AC in here) and freeze when it's chilly
      And we still pay thousands a month for this unit

    • @jer1776
      @jer1776 2 місяці тому +6

      I especially love when landlords label their paper thin walled apartments "luxury" when you can hear every little thing your neighbor does

  • @gingerkilkus
    @gingerkilkus Місяць тому +982

    People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.

    • @Franklin-gq4si
      @Franklin-gq4si Місяць тому +7

      Buy now, home prices will not go lower. If rates drop, you can refinance

    • @CharlesArthur-fq5sx
      @CharlesArthur-fq5sx Місяць тому +4

      The government will have no choice but to print more notes and lower interest rates

    • @williamDonaldson432
      @williamDonaldson432 Місяць тому +3

      Well i think, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.

    • @foreverlaura-fq4eu
      @foreverlaura-fq4eu Місяць тому

      @@williamDonaldson432 this is quite huge! what have you invested in ? much more info needed please ...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 but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

    • @foreverlaura-fq4eu
      @foreverlaura-fq4eu Місяць тому +1

      this is quite huge! what have you invested in ? much more info needed please ...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 but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

  • @jandresfg
    @jandresfg 2 місяці тому +251

    bro the NYC montage at the begining and the typography was fire, keep it up

  • @Maxry-v2y
    @Maxry-v2y 2 місяці тому +120

    No one can afford lawyers to fight the system in the lower classes

    • @scifirealism5943
      @scifirealism5943 2 місяці тому +6

      @@Maxry-v2y exactly.

    • @syrinx9196
      @syrinx9196 Місяць тому +1

      Assuming they would actually fight and not simply pocket the money while pretending to being doing somthing, in order to not irritate the people in their class.

  • @marleenvos4126
    @marleenvos4126 2 місяці тому +419

    It should be forbidden to make a profit on basic necessities such as water, housing, food, energy. Or at least limit profits to a decent amount. The rich are getting into serious pitchfork territory. Update: add healthcare, education, ...

    • @Greenitthe
      @Greenitthe 2 місяці тому +38

      Cut out the middleman. Create well paying, stable, government jobs providing basic necessities, and do it more affordably than *ANY* private org could through massive economy of scale and no obligation to capture excess revenue for profit. You still keep all the benefits of a competitive luxury market competing on innovation, while ensuring universal stability, AND you don't give the free market idealists any room to screech because the gubmint is not setting price controls, it's just out-competing them.

    • @69toober69
      @69toober69 2 місяці тому +21

      Add in healthcare.......

    • @Jacob-ec6st
      @Jacob-ec6st 2 місяці тому +48

      It's not really a "free market" if it's a basic need since you're forced to pay. It's basically extortion at this point.

    • @baha3alshamari152
      @baha3alshamari152 2 місяці тому

      In order to do that you need special mechanisms that can be aplied everywhere but only affect certain sectors of the economy and life
      That's why no government can solve the problem

    • @jasonpauda4204
      @jasonpauda4204 2 місяці тому

      This just won't happen. Americans are too conditioned or brainwashed to see that this is the only rational pathway. Conservatives and rightwing wired people will label it whatever word is scary to them at the moment (socialism, communism, Marxism, etc.) And that will end it. Meanwhile, they'll complain about all the homeless and "freeloaders". Then blame all of the problems caused by commodifiying basic necessities on immigrants, unions, taxes n big gubmint. The cycle will continue until climate change takes us all out or the right wing minded of humanity takes out humanity violently through war n genocide. It's unfortunate

  • @skyty0
    @skyty0 2 місяці тому +256

    I really despise the concept of "starter homes," as if shelter isnt enough and that you have to constantly be striving for more and more. Ridiculous.

    • @drecksaukerl
      @drecksaukerl 2 місяці тому +22

      Agreed. Part of that is what I call house bloat. Case in point; my 1965 vintage house was average size when it was built and was considered a "starter home" when we bought it in 2001. It was more than adequate for a family of 4. No one put a gun to my head forcing us to upgrade to a newer oversized house. Now it's paid for and I'm not going anywhere.

    • @greg_216
      @greg_216 2 місяці тому +11

      It ties into another quaint concept of only buying as much home as you need. Families with fewer people don't need as large of a house. As your family grows, you move into a bigger house. Keep in mind, it was common to have more children, and that might mean a span of 12 years between the eldest and youngest of six children. At some point it would make sense for a growing family to move from a 3-bedroom to a 4- or 5-bedroom.
      So, yeah, starter homes were less about upgrading than they were about meeting families' needs in the present. With today's smaller family sizes, that might be an outdated concept.

    • @imnotmike
      @imnotmike 2 місяці тому +2

      I don't know, I have a fairly big house with 2 people living in it, but my niece needed a place to stay after her divorce, so we let her move in, and it feels pretty cramped at times. 3 adults and 2 kids in a 4000 square foot house. First world problems, I guess.
      But if we'd gotten the size of house we could actually get by with, it would be untenable in our current situation. My niece is going to move out soon after 2 years, and the house is starting to look like a pretty good size for the 2 of us and our pets.

    • @ramsesfarias6167
      @ramsesfarias6167 2 місяці тому +4

      ​@@imnotmike I honestly don't get how that could feel cramped. My family used to live in a 1,400 sq ft house and there was 4 of us + a new born + sometimes a grandparent would stay

    • @Matthew.E.Kelly.
      @Matthew.E.Kelly. 2 місяці тому +6

      Starter homes? A myth, just like starter jobs. Starter bills don't exist. Or starter taxes. Or starter medical expenses. Or starter insurance. Or starter groceries. Or starter utilities.
      "Starter" anything is a myth -- except starter wages. We have *all* of the starter wages in this country.

  • @Fedor12118
    @Fedor12118 2 місяці тому +1326

    as an african you guys pay a lot for a cardboard

    • @Raytracer96024
      @Raytracer96024 2 місяці тому +151

      Brutal 💀👍😂

    • @nfzeta128
      @nfzeta128 2 місяці тому +81

      I mean it is wild these are the conditions in the richest nation in the world. No wonder some of them buy houses in smaller countries and move, at the prices in the US you can buy a house 3-4x better and live comfortably if you have a remote job or just passive investments for income.

    • @GirtonOramsay
      @GirtonOramsay 2 місяці тому +93

      The quality only gets worse with newer housing too...I lived in a 2013 building where the entire apartment shaked just because my downstairs neighbor slammed their door...thought I woke up to an earthquake once. You can literally hear every footstep from the upstairs apartment. I go out of my way to live in older buildings now

    • @twistedsteeltv6130
      @twistedsteeltv6130 2 місяці тому

      ​@@nfzeta128 Well they choose to spend their money they've extracted from their citizens into their giant military which they use to "police" the world and extract more resources in which a very slim minority lives very well. Off the hard work of all the working people.

    • @adrianocs4
      @adrianocs4 2 місяці тому

      @@nfzeta128 you can rent an 100m² apartment in Brazil for $400/month and spend another $600/month for basic living expenses.

  • @petercraigg1
    @petercraigg1 2 місяці тому +287

    I was so desperate for a place to live I went to a trailer park..... the man asked for 1400 a month for a 1 bed 1 bath crack shack. I honestly think he just didn't want ME living there. You should have seen the trailer, it amazes me that it was even legal to live in, in that state of disrepair.

    • @goldentreefrog18
      @goldentreefrog18 2 місяці тому +17

      it probably wasn't, but most of the standards are only tested for if they try to rent to Section 8/housing voucher tenants. It wasn't personal. Someone who can't pass a credit check or make 3x the rent to live in a cleaner apartment will live there out of desperation. He's banking on that.

    • @alexanderredhorse1297
      @alexanderredhorse1297 2 місяці тому +31

      @@goldentreefrog18 it's always personal

    • @GirtonOramsay
      @GirtonOramsay 2 місяці тому +9

      Yup saw plenty of older slumlord apartments in my old college town expecting a few hundred less than new "luxury apartment" in the same area. It's so bad now that property managers will cancel scheduled tours because someone already got the apartment...cant even look at the place now.

    • @petercraigg1
      @petercraigg1 2 місяці тому +13

      @alexanderredhorse1297 I think it was personal because the price of rent wasn't listed online, only that it was for rent and to ask the landlord for more details. I had to find out how much the rent was when I got there... so I guess rent was on a case by case basis.
      He saw me and thought "oh a college student... got'em"

    • @petercraigg1
      @petercraigg1 2 місяці тому +1

      @@GirtonOramsay fk America.

  • @mydressmemos
    @mydressmemos 18 днів тому +1087

    I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .

    • @amoreauMike-t6z
      @amoreauMike-t6z 18 днів тому +2

      It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.

    • @tatianastarcic
      @tatianastarcic 18 днів тому +1

      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 $375k to around $650k.

    • @JacobsErick-u8r
      @JacobsErick-u8r 18 днів тому +1

      in times like these, it's crucial to be cautious and not rush into the market , Who is this your FA , my portfolio needs urgent attention , been a lot of loss.

    • @tatianastarcic
      @tatianastarcic 18 днів тому +1

      Melissa Terri Swayne is the licensed coach I use. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

    • @winifred-k9e
      @winifred-k9e 18 днів тому +1

      I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

  • @roveplanteater6738
    @roveplanteater6738 2 місяці тому +104

    When my mother posted my grandparents home for sale after their death she immidately recieved soooo many offers that were all cash and above asking price. She ended up selling it at the asking price to a very nice local veteran, his wife, and their toddler who bought it using a loan type that is a lot more work to figure out closing the property. She wasnt going to be a sellout. Unfortunately so many people wouldve rather gone for those easy, quick, and more profitable offers.

    • @limitlessapocalypse2702
      @limitlessapocalypse2702 2 місяці тому +5

      Well it makes sense to do so you make more money

    • @djstringsmusic2994
      @djstringsmusic2994 2 місяці тому

      ​@@limitlessapocalypse2702 that's all that matters in America

    • @MS-ig7ku
      @MS-ig7ku 2 місяці тому

      The investors sometimes use fake families to buy property is the problem.

  • @NotionsofLife
    @NotionsofLife 2 місяці тому +582

    Greed has & will always be the enemy of a civilized & developed society.

    • @President_NotSure
      @President_NotSure 2 місяці тому +5

      yeah just do nothing about it

    • @TheTransTankie
      @TheTransTankie 2 місяці тому +55

      Not greed, but capitalism

    • @Dave_of_Mordor
      @Dave_of_Mordor 2 місяці тому

      The will of the government/corporation is the will of the people. Anyone who disagrees is irresponsible of their action

    • @TheTransTankie
      @TheTransTankie 2 місяці тому

      @@Dave_of_Mordor what the fuck are you talking about. How high are you? What does this even mean

    • @President_NotSure
      @President_NotSure 2 місяці тому +3

      @@Dave_of_Mordor no, they get a girlfriend

  • @kwowka
    @kwowka 2 місяці тому +69

    There’s this 20 something in Australia who has come up with this incredible system… people just ‘happen’ to perhaps share the address of houses that have been empty for 2 or more years, or empty plots of land that have been unchanged for that long and those addresses miraculously end up shared to families who need homes… obviously we would never encourage breaking and entering, but if the neighbour who accidentally shared the address has a spare set of keys, that they drop in the direction of a single mum… well… wouldn’t that be terrible?

    • @PD-fc3og
      @PD-fc3og 2 місяці тому +21

      @@michaelward9201 Lighten up sunshine. Go back in time and look at how the wealthy, early settlers and Nobles/Aristocracy "got" their land. Squatting and having a King or Queen as a good mate was very enriching for some families, who still own huge tracts of land and buildings to this day. They never paid a cent for it, just took/stole it from someone else. This is no different, they are just using the empty land for now, maintaining it in a mint condition.

    • @annanelson6830
      @annanelson6830 2 місяці тому +5

      Guerilla housing. Love it.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому

      Why not just build your own house Its really not hard to build a house watch a couple youtube videos.

    • @kwowka
      @kwowka Місяць тому

      @@morganhillfightclub2996 this is the most out of touch comment. To build a house you need somewhere to build it. Land is expensive. You need to be near somewhere to work, which probably means some flat land isn’t just available. You also need all the things that make a house. Keep in mind if your house isn’t pretty looking, it will be taken down by the council. You also need to be physically able to do the work- you need to be strong, and for that, you have to have food security, be well rested, stuff that’s pretty hard if you don’t have a home. You also need to have the time- which, if you are living pay-check to pay-check, you do not have, because every second must be spent earning, and if you have kids, that means the little time you aren’t working is spent with them.
      ‘It’s not that hard’ come on. Build a house, right now, using no expensive materials, that fits a family. Watching a couple videos doesn’t make you an expert.

  • @ccprof9932
    @ccprof9932 2 місяці тому +101

    Hey second thought crew, I've been using some of your videos (Walmart planning, east Palestine, etc.) to my university students and I'd like to say thanks for the content you make. Hopefully I won't end up on a list 😂🤞🏾

    • @SecondThought
      @SecondThought  2 місяці тому +29

      Fingers crossed! So glad you’ve found our videos useful ✊😁

    • @coolioso808
      @coolioso808 2 місяці тому

      Great work exposing young minds to truth that is often suppressed on our mainstream airways. Have you also exposed them to the concept of Library Socialism (see Srsly Wrong Boys and Andrewism)? or TZM, Culture in Decline with Peter Joseph? or Ubuntu Contributionism with Michael Tellinger? Just a lot of different options out there that people should be aware of, then they can make their own decisions how to proceed once they know.

  • @JoseLopez-ys2oz
    @JoseLopez-ys2oz 2 місяці тому +373

    Capitalism isn’t what you want, if you want democracy. 38 million Americans live today in poverty, and 60% live from paycheck to paycheck, while 9 of the 10 richest men in the world are United States (US) citize The US government is unconditionally supporting the genocide against the indigenous people of Palestine, against international law. Moreover, the US has consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. Therefore, the US can’t be the champion of democracy. On the contrary, the US is the biggest threat to peace! Capitalism is plutocracy.

    • @vectorsahel5420
      @vectorsahel5420 2 місяці тому +15

      I'm not from the US, but I hear alot that Americans live paycheck to paycheck because they live on debt, for example buying things they cannot afford like expensive cars purchased with credit card.
      Would things change if Americans live below their means? Correct me if I'm wrong please

    • @zigzag321go
      @zigzag321go 2 місяці тому +13

      The Jews are the indigenous people of Israel. They were forced to flee when the Romans were successful in committing an ethnic cleansing of the Jews. 600 years later, the people who now call themselves Palestinians settled in what was previously the Roman province of Palestina, and what was before that, the kingdom of Israel.
      Edit: My intention with this was not to argue that the Palestinians deserve what is happening (they don't), or that Israel is right to do what they are doing (they aren't), I am merely stating history that is often forgotten, obfuscated, or ignored. Both Palestinians and Jews have a rightful claim on the land, but to call Palestinians THE indigenous people is just wrong.

    • @samiier3324
      @samiier3324 2 місяці тому +25

      We live from pay check to pay check for BASIC NEEDS.

    • @rhodeislandballproductions8781
      @rhodeislandballproductions8781 2 місяці тому

      ​@@zigzag321go600 years later, I'm sure European zionists Jews live there

    • @KVQ0
      @KVQ0 2 місяці тому +9

      ​@@zigzag321go what came before the kingdom of Israel?

  • @chrisd997
    @chrisd997 2 місяці тому +103

    It would not be a surprise if the same cruel CEO after this statement after 7:00 goes to his next official meeting declaring how diverse, eco friendly and social responsible his company is.

  • @MichaelKoksharov
    @MichaelKoksharov 2 місяці тому +27

    18:50 BTW, a fun fact: the right to housings is included in the Constitution of the Russian Federation. But in reality, the housing is very unaffordable.😢

  • @Discovery_Nuggets
    @Discovery_Nuggets 2 місяці тому +106

    I'm from former Soviet Union. Housing was people'r right back then, my father as a young specialist got one bedroom apartment after few monthts as he started to work (didn't pay a single dime for it). Nowadays it's animagianble for working people. Sucks that my country doesn't exist anymore

    • @DistrustHumanz
      @DistrustHumanz 2 місяці тому +8

      Instead of saying some kind of American criticism of capitalism vs socialism, I'll just say that I don't think anyone knows the real solution... or else it would be working right now. Best of luck to you and yours.

    • @joec5544g
      @joec5544g 2 місяці тому

      You mean the one that killed and imprisoned tens of millions of it's own people? Ah yes, the good ole days..

    • @paulussoler
      @paulussoler 2 місяці тому +27

      @@DistrustHumanz I don't want to be mean or cynical here but a lot of good solutions aren't being taken due to them harming profits, they are not working right now because they are not being done. Still hope you have a good day

    • @davida.bishop4024
      @davida.bishop4024 2 місяці тому

      ​@@DistrustHumanz Absurd. We know the real problem: the filthy rich bastards who steal from us and keep our wages low. C'mon man.

    • @rutessian
      @rutessian 2 місяці тому +3

      Yeah, it really sucks that an authoritarian shithole was replaced by a mostly authoritarian shithole.

  • @sagarbhandari4314
    @sagarbhandari4314 2 місяці тому +104

    I also don’t like this American culture where the parents force the children to move out as soon as they turn 18.
    Also this mentality where people refuse to live as a joint family. My MIL could easily live with us in our house and would save half of her income on rent but she’s been conditioned into mindset where she feels like if she moves in with us, she’ll feel she will no longer have her “freedom”

    • @kat4923
      @kat4923 2 місяці тому +29

      To be fair, it depends on the family. I lived with my parents as long as I could in order to save money, but I wouldn't go back to the constant yelling, physical fighting, my mom's hoarding etc.

    • @payasoinfeliz
      @payasoinfeliz 2 місяці тому +4

      making sure your children learn independence is the most important point of parenting. it is hard to overcome that hardwiring.

    • @jadaw644
      @jadaw644 2 місяці тому

      Living alone does not equal being independent. It just means you have to figure it out on your own, when it would be faster and easier to be able to learn from family. This is, of course, assuming you have a good, healthy relationship with your family, otherwise you're better off moving out, yeah. 😅 Plenty of cultures work just fine by encouraging multi-generational homes rather than insisting on individualism, even at the detriment of the individual or family. ​@@payasoinfeliz

    • @SurpriseMeJT
      @SurpriseMeJT 2 місяці тому +4

      I paid rent to my parents for years while I saved more than 50% of my take home pay for 9 years. I didn't get many dates but I did save enough to be on track to retire early. Also, my future wife still accepted me living at my parents because she is not American and found that this strategy made sense. Now we have a family in an affluent part of France and I don't make that much more than I did previously. It's just that I can relax because I already took care of my retirement be doing the very un-cool thing of commuting far from work and saving my money.

    • @Boris80b
      @Boris80b 2 місяці тому +6

      A lot of people care too much about how others perceive them whether they want to admit it or not. So moving out is perceived as the right thing to do by others while staying with parents is not perceived as "cool".

  • @user-vy9bs6nn5z
    @user-vy9bs6nn5z 2 місяці тому +78

    The core problem with capitalism is that everything becomes someone's capital eventually. Because it must. Capitalism requires that 'capital' always be increasing. And if there isn't a sufficient enough influx of new forms of physical or intellectual capital to achieve that necessary level of growth, it must turn some facet of society into capital instead. Healthcare. Education. Housing. Law Enforcement and Incarceration. Communications. Transportation. Governance and Regulations. There's a running list of foundational elements of society that capitalism has already cannibalized to continue fueling its insatiable need for growth. But there's very little left for it to turn to that it hasn't already devoured, because capitalists have already hollowed out the American society's accumulated wealth. It's why they're accelerating and getting increasingly aggressive in their efforts to extract what little wealth remains that they don't already control or can't easily liquidate. Because America's economy is primed for a total collapse, and the big capitalists running the show all know it. They're preparing for the last chapter in this twisted tale of greed -- capital flight.

    • @screaminseaman6121
      @screaminseaman6121 2 місяці тому +2

      Except this is the opposite of a "Free Market" the app algorithm basically makes it a monopoly as there's no room for disruption via competition. Things used to get cheaper because tech advances and things get easier and companies can compete with their prices and the consumer would take the best deal. wasn't until recently have we seen everything just raise in price simply because there was a cartel and instead of competing they started working together to keep prices high.

    • @user-vy9bs6nn5z
      @user-vy9bs6nn5z 2 місяці тому +1

      @@screaminseaman6121 Because it became someone's capital....

    • @zeobide
      @zeobide 2 місяці тому +1

      this description sounds eerily similar to a scheme...of the pyramidic variety

    • @SC-sh6ux
      @SC-sh6ux 2 місяці тому +1

      Don’t forget the millions of children who will never be born because their parents think they cannot afford them.

    • @syrinx9196
      @syrinx9196 Місяць тому

      The word cannibalize is key here.

  • @manuelcasarez8348
    @manuelcasarez8348 2 місяці тому +30

    As some who pays around 70-80% of their income on housing, the "recommended" 30% seems like an extremely privileged piece of advice.

    • @1day750
      @1day750 2 місяці тому +1

      how much you paying for housing?

    • @chilanya
      @chilanya 2 місяці тому +3

      The only time i paid less than 30% of my income on housing was when i was still living with my parents.

    • @sfi3807
      @sfi3807 2 місяці тому +1

      ​@@chilanyawow

  • @blubaughmr
    @blubaughmr 2 місяці тому +84

    I am an architect who has been working on low income housing since graduating from Berkeley 40 years ago. My career in this area has taught me some things.
    The software tools and Wall Street buying up houses absolutely play a role, but they are not the fundamental source source of the problem. If supply and demand had nothing to do with it, house prices in rust belt cities would be the same as in tech hubs.
    75 years ago, detached single family houses, duplexes, and small apartment buildings lived side-by-side, in harmony, and everybody had a place to live. The older residential neighborhoods got down-zoned to detached single family residential only (and the duplexes and small apartment buildings got "grandfathered" zoning), and the newer neighborhoods never did allow denser housing.
    The automakers sold us on this notion that everybody could have their own little English manor house and live like a rich person, even though they weren't rich. The problem is, if you are only building four houses per acre, or less, you run out of land that is a reasonable commuting distance from urban job centers. The result is a shortage of housing near urban job centers, driving prices up.
    If we went back to zoning that allowed all residential areas to have at least small apartment buildings and build larger apartment buildings along major transit routes, we could fix our housing shortage and have affordable housing. That would really screw-up the pro formas of Blackstone etc because their investments are built on the current shortage.
    If you want to stick it to Wall Street, become a YIMBY!

    • @bunnystick
      @bunnystick 2 місяці тому +5

      This!

    • @gilmour6754
      @gilmour6754 2 місяці тому +11

      Very good, practical advice. This is something that's actionable at the municipal level, and that's a level where a determined person or group can do good.

    • @lesdmark
      @lesdmark 2 місяці тому +19

      You totally missed the point of the video. Even if you built all the housing to solve any shortage it would still be unaffordable because supply and demand are not what is driving the cost of housing. I live in a city that has just built a LOT of housing but rent is increasing instead of decreasing like you would expect. Housing should not be treated as a commodity, but a necessity and not able to be used to create liquidity in the market. I am also old enough that I watched my parents get rid of the house I grew up in because "rent is so affordable, why do we need to own a home?" That was a terrible decision that caused hardship for my mom for the rest of her life.

    • @blubaughmr
      @blubaughmr 2 місяці тому +9

      @@lesdmark My point is the point of the video is wrong.
      If we built 20 million new housing units in the US in the economically flourishing cities, do you really think the software tools and Wall Streeters would be able to prevent falling prices from surplus supply? There's software tools and Wall Streeters in the oil market. Prices still fall when there is surplus supply.
      I live in Seattle. We've been building, building, building. Over 20 years my neighborhood has gone from old houses and a few midrise apartment buildings, plus a couple of the old 'grandfathered' towers, to five new 25 story apartment towers. Rents have still gone up, a lot, because even though the new apartment buildings are full (I see the people walking in front of their windows at night), it hasn't been enough. Most of Seattle zoning is still single family detached and a piece of land that is zoned for a small apartment building is worth a couple million dollars, because there isn't enough multifamily zoned land.
      That's how deep a hole we are in, which is why the Wall Streeters can move the market. If we fix the supply problems, the Wall Streeters won't be able to make what they consider a reasonable return and will move onto new markets (victims).

    • @soaringstars314
      @soaringstars314 2 місяці тому +1

      ​@@alanthefisher omg I can't believe you're commenting this. I knew this one didn't sit fully right with me. Glad to see your stance though!

  • @TheTransTankie
    @TheTransTankie 2 місяці тому +377

    Ah capitalism. The best system on earth(which most people on earth can’t afford to live under)

    • @Halfpastlife
      @Halfpastlife 2 місяці тому +27

      people praise to capitalism cause they believed to live perfectly in the future. but everything is cracking in the world.

    • @ThisDaniel
      @ThisDaniel 2 місяці тому +6

      Have you been to any other country besides the US?

    • @TheTransTankie
      @TheTransTankie 2 місяці тому +30

      @@ThisDaniel yeah, I actually have

    • @ThisDaniel
      @ThisDaniel 2 місяці тому +3

      @@TheTransTankie Most people on earth don't live under capitalism

    • @TheTransTankie
      @TheTransTankie 2 місяці тому

      @@ThisDaniel hahahahahahahahahahaha yes they absolutely do you fucking moron

  • @hallowhyena
    @hallowhyena 2 місяці тому +58

    the median housing price where i live when my family moved there was $535,000 and now it is $1,400,000 😥. that is a change of 20 years

    • @MD-tr1yv
      @MD-tr1yv 2 місяці тому +11

      For me it was 250-350k 30 years ago. Now 1.2 million or more

    • @darksideofthemoon19
      @darksideofthemoon19 2 місяці тому +4

      Don’t forget the flippers are not helping. 2023 @ 1.2 and now selling for 1.6 million

    • @EvelynSaungikar
      @EvelynSaungikar 2 місяці тому

      Toronto, Ontario?

    • @ywlumaris
      @ywlumaris 2 місяці тому

      Where I live it used to be 100k for a move in ready really nice house. My parents house was 100k. 20 years later I’ve just bought my house in the same city and it’s a fixer upper in worse condition for 140k and it was the only thing I could afford. And it’s still 50% of my income, but it’s more expensive anywhere else… despite me making more than the average worker in my area. Shits wild.

    • @EvelynSaungikar
      @EvelynSaungikar 2 місяці тому

      @@ywlumaris Where I live, we bought a house for $355 K in 2003. We sold in 2020 for $1.2 million. So, you’re doing fine. BTW, the house is a simple 3 bedroom, 2 1/2 bath, no garage. For $140 K I think you can buy a parking spot here. Toronto, Canada

  • @UnkindPenguin71
    @UnkindPenguin71 2 місяці тому +61

    Every video you release I am glad that I can afford to send you a few bucks on Patreon. Thank you for doing this.

    • @stone-rock
      @stone-rock 2 місяці тому +2

      You are feeding into the capitalist mindset by doing that. Patreon is a capitalist pawn.

  • @thailandmalcolm
    @thailandmalcolm Місяць тому +4

    I live in Thailand. I live in an older condo in Pattaya (a 5-minute scooter ride to the beach). It is all concrete, so the rooms are quiet (I have a video of the condo). I am on the ninth floor, so the sunsets are great, and I do not have any trouble with mosquitoes up here. I do not get much road noise because I am on the ninth floor. We have a large pool with a slide. There is a restaurant by the pool; most meals are 3-7 dollars. My rent is $207/month. I have a new wall unit ac. It works great; a guy comes out the same day to fix it if it breaks. I run the AC 24/7 and my electric bill is $30/month. My room is 270 square feet or 30 square meters. It has plenty of room for a single guy. I have no plans to move back to the States.

  • @gogoku69
    @gogoku69 2 місяці тому +49

    So basically apartments are now hotels.

  • @ryanm4074
    @ryanm4074 2 місяці тому +22

    😭 and you got people thinking just anybody can afford these homes, people barely can afford apartments with multiple rent payers. we are living in unprecedented times

    • @bobowon5450
      @bobowon5450 2 місяці тому +1

      I actually bought my first house because I couldn't afford to rent. where i lived rent was about 2k for a one bedroom, but the mortgage for a small house was about 400 a month.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому +1

      @@bobowon5450 Its cheaper to own in the long run, the cheapest way would be to buy a plot of land and build an unpermitted tiny home then get the permits after the fact.

    • @bobowon5450
      @bobowon5450 Місяць тому

      @@morganhillfightclub2996 I know a guy who did that. He is now facing many fines because the government determined he was better off homeless than in a small house

  • @TubTub32
    @TubTub32 2 місяці тому +24

    As someone in their 20s who identifies as a conservative this video really had me thinking. Great video man

    • @SecondThought
      @SecondThought  2 місяці тому +9

      Glad you liked it! I’ve got a bunch more videos on the channel if you’d like your perspective challenged further

    • @jer1776
      @jer1776 2 місяці тому +5

      I was once a staunch conservative too, I know the feeling.

    • @melbatoast.
      @melbatoast. 2 місяці тому +11

      Good on you for taking other people’s perspectives seriously. That’s refreshing

  • @ormapa1206
    @ormapa1206 2 місяці тому +107

    A yes the magic numbers that decides if I eat today or not.

  • @scotthaarz3138
    @scotthaarz3138 2 місяці тому +11

    I just bought my first home (thanks to the gains the UAW got us last year) the couple I bought my house from turned down an offer that was $10,000 higher than what I offered. They said they wanted to give someone their first house and not sell it to a brokerage firm. I was lucky that there’s still some decent people in the world. But it is a horrible mess out there, the 3 other houses I put a bid in on are low all up for rent. Something’s gotta give!

  • @robertlee4172
    @robertlee4172 2 місяці тому +13

    That part of the empty apartments is so true. Months ago, someone posted an article in Canada, about the "1.3 million empty Canadian homes". Since then , several different articles have been claiming the article was total bunk. But it holds true, because there are other articles coming out about empty condos in the major urban centers.
    They're not units being held purposely to reduce supply. These were bought pre-construction, for sole purpose of a flip. The "investors" are now losing money on the sale, as well as having lost money, when their asset was delayed through the building phase. Some, have been reported to have lost half a million, because the sales have stagnated.

    • @coolioso808
      @coolioso808 2 місяці тому +2

      Canada needs system change, just like USA and the world, too. I would like to see community co-ops and mutual aid networks really take a coordinated effort together to rise up and build a new system, along the goals of Degrowth, Universal Basic Services, One Small Town Contributionism-type organization or TZM "A Viable Society" as proposed by Peter Joseph. I powerful mechanism for mutual aid is Library Socialism, talked about by Srsly Wrong Boys and Andrewism.

    • @SC-sh6ux
      @SC-sh6ux 2 місяці тому +1

      I know a good number of people holding onto empty houses. Why not? They will always appreciate and you don’t have the headaches of a landlord.

    • @robertlee4172
      @robertlee4172 2 місяці тому +1

      @@SC-sh6ux
      In Canada, the PM passed a law that prohibits empty homes by foreign buyers. The law in effect now for a year, taxes the empty homeowners and stops foreign/non-Canadians of purchasing our homes as investment vehicles.

  • @jacobl2222
    @jacobl2222 2 місяці тому +34

    Expensive housing drags everyone down, except the landlords. The more money people are forced to sink into just having a roof over their heads, the less they have to spend on everything else - clothes, food, entertainment, local businesses, travel, etc. It drives people who otherwise might just be struggling into outright homelessness, pushing up all the associated problems like drug addiction and crime. It destroys the fabric of communities by turning a big chunk of the population into renters who are forced to move every few years when the landlords want to jack up the rent, thus giving those renters no chance or incentive to put down strong roots or feel invested in the community.
    We would literally ALL be better off with more affordable housing.

    • @Maxry-v2y
      @Maxry-v2y 2 місяці тому

      Being able to save for future, house ,vehicle, tiny houses are in 65/180 thousand dollars

  • @pdevito
    @pdevito 2 місяці тому +10

    Content idea: I’d love to see some videos talking about viable fixes and/or alternatives to evolve into as a next phase. What is the better path in you see?

  • @BlindedByLogic
    @BlindedByLogic 2 місяці тому +62

    Another big part is the Bush and Trump tax cuts which funneled money to the top 1%, who can then use their additional $ to purchase a 2nd, 3rd, 4th, and 5th house as a financial asset.... Or invest their new money into the stock market which boosts large corporations to purchase more residential property.

    • @mgg7756
      @mgg7756 2 місяці тому +4

      Just Bush and Trump?

    • @bobbafett1849
      @bobbafett1849 2 місяці тому +12

      ​@@mgg7756well Chump DID add 8 trillion to the natl debt (1.9 trill to we the people so we'd still *spend* and help corps. 2 trill for tax breaks for millionares and up, 4 trill for "pandemic relief" for the Fortune 500, and ppp for Congress)
      All We The People got was inflation spiking in 21 after Texas froze.

    • @nfzeta128
      @nfzeta128 2 місяці тому +2

      Then nowadays they also hire some corporation to control their real estate either in terms of rent or investments otherwise. Either way that's more inflation of the market, because those corporations now have to make some extra profit so that rent has to go up.

    • @pottedrodenttube
      @pottedrodenttube 2 місяці тому

      Just the continuation of the corrupted rot of the US.

    • @BlindedByLogic
      @BlindedByLogic 2 місяці тому +2

      @@mgg7756 Actually, Reagan did cut taxes massively on the wealthy and home prices went up about 60% during the 1980's which led to the Savings and Loans crisis... But the Bush and Trump tax cuts were what caused massive housing bubbles this century.

  • @moomoocow73
    @moomoocow73 2 місяці тому +66

    I am so grateful to you. I am still in school, so I can't join your patreon, but I will when I am on my own. Your high quality videos never cease to astound me, and the information has always been amazing. I (like almost everyone else in the American school system) grew up knowing communism = bad, before I even knew what capitalism was. And my dad provided me with an upper middle class childhood, so I had no reason to truly question our system.
    Due to being in the LGBT community, I've always watched more left leaning channels (because the only other option was being indoctrinated into hating myself), and I'm so glad that this is how it worked for me. This allowed me to ease gently into the leftist ideals. I was going down the leftist pipeline at a very slow rate until about 3 months ago, when I was radicalised. I have you and a few other creators to thank for this.
    I don't know if this is what my ideals will be for the rest of my life, but I am so glad to at least be given the opportunity to see another perspective. So thank you. So very much. I know that you have brought a similar experience to many others as well, and I hope to see that continue in the future.

    • @kot.kominterna
      @kot.kominterna 2 місяці тому +6

      if you really understand the ideas of communism, it is foreve. To come to an understanding of communism = to come to a more holistic and true understanding of the world. Therefore, one cannot refuse more accurate knowledge, forgetting it voluntarily and consciously.
      Communism is the highest level of social development of society and the individual.
      It is very happy that there are more and more knowledgeable young people. Continue to explore the world. Thank you!

    • @badbabybear1
      @badbabybear1 2 місяці тому

      the school system tries to brainwash us to accept the capitalist system. people are starting to wake up with more informational platforms at our fingertips.

    • @moomoocow73
      @moomoocow73 2 місяці тому +1

      @kotassasinskiy3774 I cannot picture a world where I will no longer believe that something as simple as housing and food is nothing but a basic human right. However, for a very long time I could not picture something other than the capitalist society most of us live in today. I don't want to place myself into a box, and I will continue to stay up to date with information presented to me. A large reason I don't really want to say that I will always think this way is probably because of a trauma response, but I am not going to try to diminish this desire for change either.
      Thank you for your encouragement! I know that educating myself to new ideals is right, but I also don't love the fact that I feel the need to lower my voice when discussing such topics in public or even around certain family members. I appreciate the validation, and I will continue to learn as much as I can!

    • @kot.kominterna
      @kot.kominterna 2 місяці тому +1

      @@moomoocow73 Thanks for the answer. Good luck to you!
      Greetings from russian comrades!

  • @clay2458
    @clay2458 2 місяці тому +8

    another issue is the fact that lower-class people have also been tricked into believing they don't deserve these amenities.

  • @East14th
    @East14th 2 місяці тому

    Thanks!

  • @vivianriver6450
    @vivianriver6450 2 місяці тому +31

    How can you say that this isn't "normal"? By this country's standards, it would be abnormal to behave in a way that brought in a single penny less profit for companies and landlord.

  • @Luchoedge
    @Luchoedge 2 місяці тому +9

    5:58 they always say Capitalism is the best way of distributing goods and services, but every time the goods and services get optimized out of the equation.

    • @biryataco8191
      @biryataco8191 9 днів тому

      people are inherently evil. if you give someone the chance to screw you over for profit they will. id rather many large corporations that are held accountable by the people and government than a government that isnt held accountable by anyone. absolute power corrupts absolutely
      how do you reckon goods and services be distributed equally? who will regulate that? do you really think that whoever regulates it will be any less evil than whoever regulates it right now? of course you didnt think of that cause its cool to hate on whatever system we have in place rn

  • @pest174
    @pest174 2 місяці тому +73

    Aye, New Yorker mentioned 🍻
    As a New Yorker fighting for tenant rights and advocacy, it's disheartening how every passing year tenant's rights erode. NYC is pro-landlord despite what most have heard.

    • @nutmegriot209
      @nutmegriot209 2 місяці тому +1

      i had to leave the 5 burroughs. i don’t know how people do it

    • @pest174
      @pest174 2 місяці тому +1

      @@nutmegriot209 I'm almost there. Went from the Bronx to Queens, and now the Bronx has started to become unaffordable.

    • @nfzeta128
      @nfzeta128 2 місяці тому +2

      ​@@pest174don't know how they expect this to continue when people only have so much money. Eventually the bubble bursts.

    • @badbabybear1
      @badbabybear1 2 місяці тому +8

      ive found supposed "liberal" cities can be pretty conservative and pro-capitalism/social elite underneath the surface

    • @pest174
      @pest174 2 місяці тому

      @@badbabybear1 NYC is one of the most segregated cities in the States, so I believe it. Just look at the corruption scandal with our mayor.

  • @danielrowan6424
    @danielrowan6424 2 місяці тому

    Thanks!

  • @CharlieThunder24
    @CharlieThunder24 2 місяці тому +21

    It's depressing how much power is piled in those plutocrats' putrid possession. They have no shame in Wallstreet, clearly.

    • @jordanmurray410
      @jordanmurray410 2 місяці тому +1

      Most of them have the same psychological profile as serial killers so it does make sense lol

  • @leelindsay5618
    @leelindsay5618 2 місяці тому +8

    The 30% on housing is part of 50% on bills rent and food, 20% for retirement, and 30% on living and fun (subscriptions, tv, trips, clothing, shopping, and furniture). I wish I had known that formula since highschool. Oh, and having a 1 to 6 months worth of basic bills, food, and utilities as an emergency fund in a high interest savings. That would have saved me some headaches.

    • @syrinx9196
      @syrinx9196 Місяць тому

      Inflation loves emergency funds.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому

      Keep your emergency funds in a high yield bank account for example Sofi bank or Lending club. If you have $10,000 and you keep it in a regular 0.01% they give you $1 If its a 5% account the bank will give you $500 a year just for keeping money in their high interest account. Thats $500 dollars you didn’t need to work for and it counters inflation.

  • @NobodyHasToAgreeAllTheTime
    @NobodyHasToAgreeAllTheTime 2 місяці тому +136

    I’m been watching this channel since the lockdowns activated my villain arc shift from libertarian to socialist

    • @trickydicky2
      @trickydicky2 2 місяці тому +2

      I'm curious as to how lockdowns triggered a shift to trusting the government more?

    • @TheRatsintheWalls
      @TheRatsintheWalls 2 місяці тому +58

      ​@@trickydicky2
      You really can't see how the pandemic demonstrated the many failures of unregulated capitalism?

    • @WONGKHAIHONGMoe
      @WONGKHAIHONGMoe 2 місяці тому +43

      *Redemption arc

    • @mgg7756
      @mgg7756 2 місяці тому +30

      ​@@trickydicky2 libertarian detected

    • @bobbafett1849
      @bobbafett1849 2 місяці тому +20

      ​@@trickydicky2Agreed since reichwing billionares of the corporate oligarchy and wall st *OWN* the Govt.
      Benito called it *fascism* .

  • @williamhaines7752
    @williamhaines7752 2 місяці тому +4

    It is truly overwhelming not just the cost of housing the amount of shortcuts some of the builders were take to appease the Realtors!! Working in construction i e residential new construction I've seen firsthand shortcuts that closely rival 2:33 the fast food industry as far as overall lack of quality especially in the materials utilized!!

  • @nicolasbenson009
    @nicolasbenson009 Місяць тому +1528

    I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

    • @sharonwinson-m8g
      @sharonwinson-m8g Місяць тому +2

      Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

    • @tatianastarcic
      @tatianastarcic Місяць тому +2

      You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

    • @Vincent-j8u
      @Vincent-j8u Місяць тому +2

      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.

    • @tatianastarcic
      @tatianastarcic Місяць тому +1

      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.

    • @TinaJames222
      @TinaJames222 Місяць тому +1

      Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

  • @pillford4226
    @pillford4226 2 місяці тому +15

    I feel like a foreigner in my own country after watching all your videos...

  • @user-em6ie2be7x
    @user-em6ie2be7x 2 місяці тому +69

    This Real Page software clearly needs to be banned, & wages need to increase if rent goes up regardless.

    • @overflow7276
      @overflow7276 2 місяці тому +16

      Honestly, makroeconomically it is preferable for rents NOT to increase. Because workers demanding higher wages will lead to higher production costs in EVERY sector at once, which makes the whole country less competitive.
      This us exactly what happened here in Austria. When inflation hit, the land lords lobbied heavily for inflation adjusted rents.
      Fast forward 2 rounds of collective salary negotiations and whooop di dooop, Austias industry is suffering heavily from too high unit labor costs.
      That is just a perfect example of the owning class shooting itself in the foot.
      But of course the media blames it on the unions "unjustifiably high wage demands".
      So it is everybody elses fault that we refused to swallow the losses that landlords should have taken in times of crisis, and now everybody (including landlords) suffers. Good job!

    • @acerimmer8338
      @acerimmer8338 2 місяці тому +1

      It's absolutely collusion, just by a different name.

    • @Mene0
      @Mene0 2 місяці тому

      It won't be banned, it benefits the capitalist class, and they make the rules. In fact it would be a lot better for them if we neved even knew about it

    • @KelThaFunkeeGaming
      @KelThaFunkeeGaming 2 місяці тому +1

      Class action lawsuit, return all excess to renters, pay reparations to people who couldn't rent

    • @Greenitthe
      @Greenitthe 2 місяці тому +3

      @@overflow7276 Almost like providing your citizens with basic needs makes everything better, even the capitalists' precious economy, who would have thought...

  • @akhsanarrazi7825
    @akhsanarrazi7825 2 місяці тому +9

    0:48 was personal😂

    • @shemekalg
      @shemekalg Місяць тому

      😂😂😂😂

  • @truffiethestreamer
    @truffiethestreamer 2 місяці тому +7

    Thank you. I am an American citizen trying to seek Asylum in Finland. I have bounced between 4 states, in over 30 different properties, sometimes forced to sleep without shelter, due to lack of affordability and multiple, unfortunate, and tenuous, roommate situations. All I have for backup is my divorced parent's homemade trailer, which gets severe and traumatizing Elder Bug infestations, and dangerous indoor temperatures every summer; complimenting the constant threat of wildfires due to the incompetence of my state government. I shall be using this video to help support my case, while I seek medical treatment and psychological care for damage to my body beyond what I anticipated.
    I guess, wish me luck. I know my chances are slim. America is deemed a safe country by EU standards. Still, I must try. My mother, also desperate in escaping the situation, is also struggling to find housing and work within the country itself. She has traveled West to East in search of stability with no luck. I am alone in seeking help beyond the border, but I refuse to suffer silently, as I watch everyone I love go deeper into poverty, losing what little they have due to the lack of interest in helping Americans like me.
    God Bless America. Some of us desperately need it.

    • @syrinx9196
      @syrinx9196 Місяць тому +1

      I know Finns and they're not keen on having more strain on their social systems.

    • @ssgg23
      @ssgg23 11 днів тому

      Did you ever try temp jobs overseas? Might give good experience while being able to get out of the country for a while, may even lead to a full time opportunity, you never know.

  • @marissahondros5141
    @marissahondros5141 2 місяці тому +20

    I'm lucky that I was able to buy a house recently, but goodness gracious the cost of everything is so much. People can be like "oh it's a saving money/budgeting issue" but however much you budget, sometimes it seems impossible to build yourself up again. Amazing vid as always, love having my lunch break with a dose of 2nd thought

    • @DistrustHumanz
      @DistrustHumanz 2 місяці тому +2

      Did you 'buy' a house, or finance a house, because there is a difference. If you financed, then the bank owns the house. Please excuse my criticism if it sounds harsh; not trying to be rude. The common misconception of debt as ownership is a major issue in mass social mentality.

    • @marissahondros5141
      @marissahondros5141 2 місяці тому

      @DistrustHumanz I financed, so yeah, technically don't own it for 30 years

    • @clinthufkie3242
      @clinthufkie3242 2 місяці тому

      ​@@marissahondros5141congratulations. 😊

  • @waltergoring8428
    @waltergoring8428 2 місяці тому +2

    Thanks for the quality, relevant content. This is a good channel

  • @bensteele5801
    @bensteele5801 2 місяці тому +3

    Agree with all of this, but also we don't build enough housing in most major cities in the US. The supply absolutely still has an effect.

  • @jword9961
    @jword9961 2 місяці тому +4

    Lets goooooooo
    You finally put citations in your description!!!! Yes!!!!!!

  • @JonathanLit
    @JonathanLit Місяць тому

    Thank you for creating this video. Please stay on top of this topic and make as many videos on this as you can so you can reach as many as possible and open as many eyes to what’s going on as possible!

  • @JazzyJonas
    @JazzyJonas 2 місяці тому +5

    I never thought of eviction as an act of violence, but it's actually one of the crueler ones.

    • @syrinx9196
      @syrinx9196 Місяць тому +1

      Read The Lost Beautifulness by Yezierska

  • @jptothetree
    @jptothetree 2 місяці тому +14

    "Capitalism and democracy are not synonymous" - Immortal Technique

    • @syrinx9196
      @syrinx9196 Місяць тому

      Democracy is also not automatically synonymous with good governance. Education is needed.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому

      @@syrinx9196 We need less education and more people with good work ethic and good morals. If we had a stronger labor force housing prices would go down but its harder to find Americans that are willing to shovel concrete and frame a house. Too many people in society work jobs that don’t actually produce anything. If we got rid of the government bureaucracy and taxed the ultra rich a 15% more. We would literally have so much money to build massive buildings and infrastructure. We need less education because the vast majority of college graduates end up having useless degrees. Put all those people to work at construction sites and fixing our decaying roads. Why not build more railroads?

    • @syrinx9196
      @syrinx9196 Місяць тому

      @@morganhillfightclub2996 Less education. That's funny.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому

      @@syrinx9196 about 60% of Americans go to college but only around 25% of jobs require college, in fact vocational jobs pay more than most entry level college jobs. Working class jobs have a negative stigma around them yet they are safer careers to enter. You don’t go into debt and if you work hard you are pretty much guaranteed to move up in life the more experience you gain. I started working in construction at 14 I’m 23 now and own a home (with a mortgage). Alot of my friends that chose to go to college are working as waiters making minimum wage and in debt. Of course certain jobs require college such as doctors, lawyers, scientists, engineers, ect. But 60% of society does not need to go to college.

    • @morganhillfightclub2996
      @morganhillfightclub2996 Місяць тому

      @@syrinx9196 It would be more beneficial for society for a larger portion of 18-22 year olds to learn trades and help build our nations infrastructure. Rather than have such a large swath of working age people rot their brains in college learning about “Gender”. Our education system is broken in this country they are phasing out shop classes and mechanics classes because of a BS stigma liberals have about “Dirty Jobs”. Look at the price of housing now vs the 1950s back then a larger amount of society was in the workforce constructing housing and infrastructure.

  • @adorablehorrorfrombeyond1462
    @adorablehorrorfrombeyond1462 2 місяці тому +3

    Only a few seconds into the video, but damn your editing is good JT. You've been making some very nice videos to look at lately, keep it up man

  • @wesleywashington1251
    @wesleywashington1251 25 днів тому

    Love your videos, man. So full of information. Eye-opening information.

  • @dmkuchins6646
    @dmkuchins6646 Місяць тому

    THANK YOU!!!!
    I have been saying something similar for years, but not in a position to create such easily understandable, brief and concise and attractive modes of presentation.
    Will be using this, let you know how it goes.

  • @deadlizard64
    @deadlizard64 2 місяці тому +4

    Remember that the game of Monopoly ends when no one can afford to live on the board anymore

  • @scaryteri8
    @scaryteri8 2 місяці тому +4

    And in Australia, something called 'negative gearing' makes it appealing to many upper-middle class people to hoard housing. As a Canadian who immigrated here, being a landlord to at least one other property is considered a life-goal for adults. Seriously. Almost every 50-70 something person I worked with at an office owned one or two extra properties, because they get massive tax breaks on them. That old saying about temporarily embarassed millionaires is especially true down under as they raise rents 100 PER WEEK every year now. I know this is a worldwide issue, but Australia is particularly heinous.

    • @SC-sh6ux
      @SC-sh6ux 2 місяці тому

      Same here in the USA

  • @平和-v1z
    @平和-v1z 2 місяці тому +6

    Removing much needed public housing, in favor of privatized housing, is some proper late stage capitalism.
    It's already insane enough that homeless people exist when there are so many empty homes.
    Having a roof over your head should be a human right.
    Bang-on video!

  • @765craven4
    @765craven4 Місяць тому +1

    I do pest control for apartment properties. The quantity of vacant units on these properties is often insane. Just yesterday I was doing a full building routine treatment and out of 8 units 6 of them were vacant. That's excessive even by the standards I'm used to, but it's completely normal for 1 in 8 units to be vacant on many properties I service.

  • @louissartor6294
    @louissartor6294 2 місяці тому +2

    I am a retired teacher who with my wife purchased a house in Maine in 2012 with what we thought would be our retirement home. Over the ten years we had a variety of tenants who mostly were problematic. The last raised pigeons in our basement and left the house in disastrous condition. Being a mom and pop landlord is no fun. Sure the value of the home escalated over ten years. Yay. Tenants who pissed off our neighbors or trashed the house and yard not so much. Never again. I have to say Portland is so very wonderful. Been visiting there for almost 25 years.

  • @Raytracer96024
    @Raytracer96024 2 місяці тому +34

    But but China collapsing housing market, right??? Right???

    • @alexanderredhorse1297
      @alexanderredhorse1297 2 місяці тому +2

      @@Leo23XR it's a joke about western governments and their media lapdogs keeps running their mouths about how china is going to collapse any day now

    • @artemisjackson222
      @artemisjackson222 2 місяці тому

      It’s a joke about how people will still say China has it worse to fear monger communism even while thi nvm s in capitalism everything ny collapsing

    • @lordkenten4136
      @lordkenten4136 2 місяці тому

      ​@@Leo23XRthe Chinese government is purposely making their housing market crash because they plan on making housing a rights. But people in the west can't understand that and think the housing market collapsing marks the end of China.

    • @HungLuigi
      @HungLuigi 2 місяці тому

      China housing market is collapsing.

    • @difluorine_dioxide
      @difluorine_dioxide 2 місяці тому

      This statement has been fact checked by Falun Gong.

  • @Swearrot
    @Swearrot 2 місяці тому +2

    I am engaging bc engagement is good. I love your content.

  • @thesuitablecommand
    @thesuitablecommand 2 місяці тому +5

    Hot take, but the only people who should be allowed to profit off homes are the people who work to build or upgrade them. People being unable to afford housing because of private investors trying to squeeze out a profit is unacceptable.

    • @MRkriegs
      @MRkriegs Місяць тому

      When the US government encourages investing in real estate... people will invest in real estate.

  • @OutlawSeraphrim
    @OutlawSeraphrim Місяць тому

    You know this shines a way different light on this topic great job

  • @wrecklessfilmsofficial
    @wrecklessfilmsofficial Місяць тому +2

    The scary thing is that the free-market 'solution' of pricing people out doesn't really apply here. The theory being if something is so expensive it prices everyone out then the market price will lower naturally until people can buy again. This won't happen however, because there will always be individuals or companies or investors with enough money to buy them up and turn them into rentables or AirBnB's, so the sellers will never price themselves out.

  • @shucks1493
    @shucks1493 2 місяці тому +3

    5:35 That caught me off guard bro 😭

  • @SocialistMark
    @SocialistMark 2 місяці тому +4

    The housing crisis in Australia is even worse, real estate agencies can make renter's bid for a rental with other renter's

  • @Will_Moffett
    @Will_Moffett 2 місяці тому +10

    The median income in the U.S. is not 78k as stated by CNBC. That might be the median household income, but the median personal income in the U.S. in 2023 was like 42k.

  • @LordStepp
    @LordStepp 2 місяці тому +2

    As a renter in Atlanta, I’ve personally experienced rising rental costs over the past few years and am concerned about the allegations against RealPage and the landlords using its software to inflate prices. I’d like to know more about joining the class-action lawsuit. Can someone direct me to the legal team or resources involved in this case? I believe it’s important for renters to stand up against unfair practices, especially when they lead to such dramatic increases in the cost of living. Any guidance would be appreciated!

  • @sarniasam
    @sarniasam 2 місяці тому +2

    I've been stating much of the same for years. We have the same issues here in Canada. But, I believe there's another factor, Aribnb contributing to the rent and price problem and I have yet to see an analysis of just how much they make things worse.

  • @mkuc6951
    @mkuc6951 2 місяці тому +3

    Can I say this is a global phenomenon???
    USA, Australia, Canada, Brazil, Europe, all over i hear the same story - family bought low and now the prices are 10x
    I think its global money printing and inflation. The governments / central banks print money, that money has to go somewhere. Assets like houses tend to be a store of value so the money goes there.

    • @taxfraudyumyum
      @taxfraudyumyum 2 місяці тому +1

      I’d also add, regarding to where I’m from Australia, that we have serious issues with money laundering which I’d dare say places a massive role too, at least for us. After obtaining the ‘dirty’ money, the landlords will lease these homes to the people to essentially claim that the now ‘clean’ looking money if from the revenue of the property.. and this is typically the beginning of the extremely diabolical scheme of evicting people, or setting prices to insane levels

    • @syrinx9196
      @syrinx9196 Місяць тому

      Japan is different. Everyone wants to live in the big cities, especially Tokyo. And, the birthrate is low and immigration is low. You can get a rural or semi-rural home very cheaply but it will also probably cost quite a bit to renovate to contemporary standards. The language barrier is a big factor in keeping the homes cheap.

  • @BobbbyJoeKlop
    @BobbbyJoeKlop 2 місяці тому +6

    This is, hands down, the best effort I've viewed here. We needed this. The 20s squeeze is pushing so many to the brink.

  • @JLep44
    @JLep44 2 місяці тому +5

    1:27 The average American is making $80K? Damn. I didn’t realize how lower class I was until just now.

    • @antlila5300
      @antlila5300 2 місяці тому

      probably household income used to cover up personal income to make you feel poor and everything seem good

    • @antlila5300
      @antlila5300 2 місяці тому

      if the avg household is 2.5 ppl, that means the avg is like 25-30k

    • @PhotonBeast
      @PhotonBeast 2 місяці тому

      He was talking quickly so the actual headline was easy to miss. It's not that the average (eg add up all income and divide by all people) is 80k. It's the median.

    • @ipickuptrash1640
      @ipickuptrash1640 Місяць тому +1

      He mixed up median and average. The average American makes more like 30k

    • @PhotonBeast
      @PhotonBeast Місяць тому

      @@ipickuptrash1640 I guess both of us should clarify median and average. Median more or less means "50% make less than X, 50% make more than X" while average (also called mean) means "Add up all income and divide by number of people." (Also how GDP per capita is talled)
      And these can be very different numbers with very different meanings.
      For instance, say we have a bunch of people that make: 1, 1, 1, 1, 1, 10000000. The median would be 1. The average/mean would be 1,666,667.
      It would be a little disingenious to say that the average (as in, pick a random person) in that group) makes around 1.6 million. It'd be more accurate to say that the average person makes 1 and the other person is an outlier.
      Now, one might ponder if the size of the US population, the range of incomes, etc, might make these numbers closer. Various reports have shown that most of the wealth and income in the country is held by a very small minority. That pushes up the average/mean significantly but doesn't really affect the median.
      Or, let's put it this way. Bill Gates making an extra 100million dollars a year will increase the average. But that has zero impact on everyone else in the country making an extra 0.

  • @seanohelan8241
    @seanohelan8241 2 місяці тому

    Brilliant presentation!!! Well done for explaining it so clearly

  • @prisigonzalez8812
    @prisigonzalez8812 2 місяці тому +2

    It’s called “financialization.” It’s a phenomenon where in the last 20 years or so private equity firms and institutional investors have purchased increasingly large shares of homes and apartments. In some cities more than 25% of purchases are by institutional investors. This creates a scarcity of housing for owners and allows institutional landlords to charge basically whatever rent they want because no one can afford to buy.

  • @donfer905
    @donfer905 2 місяці тому +4

    Random video on youtube: "why housing keeps getting more expensive"
    Me: capitalism
    The youtuber: this video is brought to ypu by meanstv, the world first anticapitalism...
    Me: yeah, ill stick around

    • @taxfraudyumyum
      @taxfraudyumyum 2 місяці тому

      Let’s be honest we were all hooked into the video after that sponsor 😂

  • @jerrycampbell-ut9yf
    @jerrycampbell-ut9yf Місяць тому +5

    I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?

    • @Peterl4290
      @Peterl4290 Місяць тому +3

      You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.

    • @larrypaul-cw9nk
      @larrypaul-cw9nk Місяць тому +1

      A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

    • @sabastinenoah
      @sabastinenoah Місяць тому +1

      Could you kindly elaborate on the advisor's background and qualifications?

    • @larrypaul-cw9nk
      @larrypaul-cw9nk Місяць тому +1

      Annette Christine Conte maintains an online presence that can be easily found through a simple search of her name on the internet.

    • @sabastinenoah
      @sabastinenoah Місяць тому +1

      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.

  • @CharlieThunder24
    @CharlieThunder24 2 місяці тому +10

    Hedge funds have less honor than vampires.

  • @drooper0357
    @drooper0357 2 місяці тому +2

    Here in Brazil, the rent x wages is BRUTAL.
    Im on the "10% best paid wages" of the country an rne still consumes about 30% of my income.
    The downpayment for buying a home/apartment here usuary stands at 50 to 100x minimun wage (about 30x my income). We're all in the verge.

  • @epothos1
    @epothos1 Місяць тому

    I don’t quite have enough for means currently but I will try to support the channel however else I can. Long live the resistance.

  • @BlueScreenCorp
    @BlueScreenCorp 2 місяці тому +15

    One thing that is happening in the area I live in (Ontario Canada) builders will set a price and then will not budge, a new home could go on sale and just stay on sale for literal years. Builders will refuse to sell a house that they built in a cheaper market cause people simply will not pay that much for a home when you can get a existing property for 10-20% less. The fact that governments are willing to prop up builders and do not require builders to sell after a given time has lead to a situation where in many areas (little towns and big cities) where a builder is expecting a certain amount for each property and will not adjust the prices based on the market which results in entire neighbourhoods of new homes being vacant in communities with many people looking to purchase.

    • @Praisethesunson
      @Praisethesunson 2 місяці тому +10

      It's almost like leaving your access to basic shelter in the hands of private actors whose only concern is their own profits, is a bad idea.

    • @nurito_burrito
      @nurito_burrito 2 місяці тому +1

      it's a very easy problen to solve, bring in hefty taxes on empty property for corporate landlords and private landords with more than a certain amount of property.

  • @MolSno
    @MolSno 2 місяці тому +12

    Whenever I hear about how bad the Soviet Khrushchevkas supposedly were I can't help but laugh. Sure, maybe they weren't luxurious, but they represent a government that made housing a human right, and built as many housing units as possible as efficiently as they could with what little resources they had in order to guarantee everyone had a place to live. I'd much rather have that than an equally mediocre studio apartment that I can't afford to live in anyway.

    • @gaim44
      @gaim44 2 місяці тому

      Shhhhhh…that’s top secret

  • @AndrewBandres
    @AndrewBandres 2 місяці тому +5

    I just want to point out that on the other side of the globe, in Russia and Central Asia, the situation is exactly the same at 146%. Our rental prices are lower than yours in absolute terms, but they make up more than 50% of the average salary, and the cost of buying real estate is growing by tens of percent per year due to mortgages. Most have to work 2+ jobs to live comfortably. Capitalism is the same everywhere.