When feudalism becomes inescapable, violence will become necessary. The fat cats on wall Street always looking to exploit the nation for greed, then ask for bail outs from the same tax payers they were exploiting. No more bail outs!
Tyjohnstone: You are ABSOLUTELY correct!! No wonder they stopped teaching history in schools. This generation can't find Europe on a map, 😮 let alone understand the concept of feudalism! If "ignorance is bliss," then we need to redefine the definition of BLISS!!!
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
@GrassGroomersLLC To be fair, Jefferson was talking about private banks in the sense of corporatism, not central banking system. The central banking we have today are owned by the top .01% wealthy elites who writes the rules in their favor. The private banks and the top .01% wealthy elites have no sense of loyalty or the well being of the people. They are only interested in one thing. Profit above all.
@@Michael45007You probably won’t like what I have to say but the only way to get the 0.01 % to start changing things is to start talking socialism. That scares them sh**less. I am not for it but I would take it over feudalism.
@@sammavitae114 I agree. Social capitalism is exactly what this country needs. Not crony capitalism which is what we have today. People need to recognize the difference and how we used to be a social capitalist country under FDR and Eisenhower but we started to turn into crony capitalist country especially after Reagan implemented side supply economics also known as trickle down economics. Fast forward to what we have today, corporations and top .01% wealthy elites controlling the governnent to write laws in their favor. They hate regulations because they don't want to work hard. They don't want to follow the laws. They want to freely do whatever they want. We really do have two tier court system. One for the commoners and one for the .01% wealthy elites. We really do have the problem of treating our wealthy elite masters with kiddie gloves when it comes to push.
I am so glad that you heard that!… because you were the first person to comment. If you don’t own your future, someone else does…truly appreciate you taking the time to watch, and comment and I’ll see you in the next video
My husband and I were extremely lucky. We were living together in 2007 - unmarried at the time - in an apartment complex and hated apartment living. Sharing walls, floors, and ceilings with others sucks. He proposed, then the housing market crashed and we immediately started looking for a house. Everyone was saying don't buy a house because of the market, but I knew they were completely wrong on that one. We bought a foreclosure for 215k, which was 100k less than the previous people bought it for in 2006. Our home today is worth over 400k, pretty much double what we paid. We couldn't afford to buy our own house today. The rent on our house would be over 3 times our mortgage payment. The real estate taxes are awful, but we've worked hard to pay off our home early and will be done in 2 years. Best decision we ever made was buying our house.
You went about the smart way, in that you bought at a low point and hustled hard to pay it off early. You probably saved a hell of a lot in interest by paying it off early.
It’s truly unfolding right before our eyes. I was in the market to purchase last year under $200k and most of the homes were getting snatched by cash buyers. Fast forward to today and those same homes are back on the market, $200k more than they were last year. Now with fresh paint and floors. SICKENING.
That happened to me! I just getting pushed out by cash buyers. One person wouldn’t even let me counter offer because they were getting cash . I have as prequalified for more than I offered so my loan was good.
If that's the case, there really isn't anything "sickening" about it. If nobody was in the market to pay $400k for a house that was selling for $200k just last year, they'd have to lower the price. But if there ARE people willing to pay that amount, that's just free market economics. On a smaller scale, if you had something for sale and one person offered you $50 for it, while another person offered you $100, which offer would you take? If you choose the latter offer, can the person who offered half as much claim that you're just a greedy capitalist? Of course what the video is discussing is a bit more devious than that, because these rental companies are using massive capital to buy up available properties and FORCE people to rent because they own all of the inventory, but what you're talking about is entirely different because those same homes are going right back on the market and selling for a much higher price.
@@AdamMontgomery1You said a lot of words there, but it’s just rich people getting richer. No house should increase 250% unless it’s by design. A blue collar job, which is arguably the hardest jobs in the US, aren’t paying out like they did in previous generations due to inflation and the falling dollar. We’re looking more screwed by the day unless there’s a course correction. I’ll be too old to care by then tough.
My small village of less than 800 people started doing this by having the richest people in town buying out all the housing, and renting it out. Basically, preventing any new actual homeowners from coming in. Not only is this controlling, but essentially the beginning of feudalism in my area. I'm just waiting for them to start building a castle and a mote.
Republicans made the tax laws that allow them to do this. Blackrock can buy 60,000 homes and depreciate every one of them every year. You scrimp and save for a decade to buy one, and you can never depreciate it one penny. Forty years of Republican tax cuts for the obscenely wealthy and corporations have allowed this and all the other perks and benefits they have given the wealthy. Demand change, demand forty years of Republican tax cuts for the wealthy be repealed and the loopholes too. They have all been added to the deficits by Republicans, giving us the national debt we have.
@@Whocareslol420 if it wasn't a tankie catalyst, I'd agree. As I identify as an evil Trumper, I do not think I would be spared the sword so that's gonna be a no from me dog
They don't want you to own a home because rent means they can take away your home at any time, it gives them leverage over you so that you have to constantly work, live by HOA standards, and be evicted at a moment's notice or other factors. Owning your own land and own home is the most powerful thing you can do. Our area has recently been building a lot of apartments and they aren't even nice. They look crappy
Read your deed to your property. I'll guarantee it does not say you "own" the property. It will, more likely, say you are a tenant (tenants in common, etc.). There is no such thing as "ownership" since the "Allodial title" was done away with, in Tennessee, in the 1930's. An Allodial title was actual ownership of real property. The closest thing to actual ownership, now, is the Fee Simple Warranty Deed, which is not actual ownership. Do your research. Surprise!
Most powerful thing to a certain extent... for example, there's a little more sense of freedom as an "owner" to reside in it, and there's also the option to bank on it by renting it out for a decent monthly return of investment... but even if the property is completely paid for, stop paying those property taxes and see who really owns it afterall. It's all smoke and mirrors, really. Some of us are the magicians, and most of us are part of the audience... and we all know that it's just a trick.
The other thing I don't see people mention enough is that living in apartments absolutely sucks. Walls are usually way too thin, upstairs neighbors tend to stomp too much, and there's just a complete lack of privacy in general. Even if you have good neighbors there will be normal living noise, which is still highly annoying to me personally. I don't want to hear it and I don't want them hearing my normal living noise. I don't believe non related people are meant to live that close together. Can't watch a TV very loud where you can actually hear and enjoy it, or listen to music...and when you have bad neighbors your life will be HELL. The lack of privacy that comes with apartment living is unacceptable for a long term living situation for me. I had no choice but to live in apartments for years and I hated every second of it with a passion.
Nah. Know your history. We need to get back to what our ancestors did. Purchase land and build your own house in it. Fuck a traditional mortgage. Stop trying to keep up with the Joneses. Educate yourself. The AmeriKKKan dream was never a dream of mine.
@@edhutch8946The houses and apartments are their power over us. If something happened to them, they'd be out a lot of money and be forced to sell to developers at huge losses. Can't imagine insurance footing the bill.
My plan is to let my kids stay with me unless and until they can actually afford a home. I refuse to feed any money into this dystopian feudal/rental system. The best way to deal with corporations that hate you (apart from government action) is to starve them of money. Don't consume what they are trying to sell. Eventually they will have to go bankrupt or start selling a better product.
They can make that change by all kinds of taxes and 'members per household' tax rules and new laws and then pave the fields over with black plastic and metal and call it 'saving the environment'. but i like your spirit!
@@topsuperseven7910 "They" are not in charge. "We the People" are in charge. If only enough people realized this truth. WE are the leaders. THEY are our servants.
@@topsuperseven7910 I have 3 hard working young adult children living with us right now (20, 21 and 23). My husband and I promised them that working hard doing something you love is the first step towards the American Dream. They all do that and I am not ready to give up on that dream! When I find myself falling into nihilism, I think of them and their future and prepare for the battle.
I live in Memphis TN. Our house was paid for and it burned down. Fortunately we had great insurance. So we are moving to Oakland, TN paying cash again which is a $440,000 new house. We are blessed but so many aren’t. Housing has exceeded the cost of what ppl can pay. I’m a licensed real estate agent and also a licensed contractor and my daughter is getting her contractor license and we want to buy property from the city to build smaller homes so lower income ppl can purchase a home. It’s gotten so bad in our area, all that’s being built are high end high cost apartments. We want to help ppl not hurt them. Greed has taken over our world, no one wants to help others anymore. Well I’m going to do my best to change this in my community God willing.
@@Sassywhitclass I live in a 2017 Hyundai Accent hatchback in the AZ desert (Cochise Co) My car pymts are $226 a month Nobody hassles me, l park in a different spot ea nite
And it’s crazy how there’s people out here defending BlackRock, BlackStone, Vanguard, and State Street thinking that we are “conspiracy theorists” when it’s happening in front of our faces. You can ask anyone in the real estate and construction industry who the real buyers are in the developments.
Up to a month ago I was paying $930 for my mortgage. Now it’s $1026 because taxes and insurance went up. I consider myself lucky because the average rent in my area is $2250 for a single family home similar to mine. So buying an affordable house a decade ago is a decision that is now saving me over 50% in housing expenses.
My son and his girlfriend are up in New Jersey (I'm in Georgia) looking for a place to rent. A 1 bedroom (Jersey shore) is 2k. I know what you mean with the tax increase and insurance. My taxes went from 2,688, up 3,600+. I won't consider selling. I have a 2.8% interest rate. Where would I go?
They’ve been trying hard to buy our home here in Pinellas County, FL, Truth is we couldn’t rent a one bedroom apt for less than our monthly mortgage payment. I see what just occurred in California and Hawaii, and shudder at the thought that the same could happen here. There’s a lot of evil out there, stay strong folks!
Oh it’s happening! Florida is becoming New York 2.0. It’s the place to be (Entertainment) , it’s expensive… maybe not law-wise yet.😓 My family is trying to get out now.
Just got back from Miami. I don't drink but my friends spent $800 on 5 meals and 8 coctails. My husband and I looked at each other and felt grateful we only popped into this restaurant after eating a quick bite already elsewhere. We live in orange county, CA and it's EXPENSIVE here but not $800 for 5 ppl to eat a meal and have a drink. Just absurd.
Plus, rental communities are usually composed of lower salaried folks with very little sense of good stewardship and maintenance. The home is trashed by them and their dogs, etc. I wouldn't want to be a landlord and have 10s of thousands of repairs. Plus if they can't pay rent they have to get the law to evict them after trashing the place. So... buy a home in the most expensive community you can to retain value.
@nicolina3330 lived in FL all my life and never been to any restaurant that charges over $100 for a meal. Idk wtf you and your friends did but that doesn't sound right.
Me and my wife decided to purchase a home in August of 2020, and I am so glad we did! The lady we bought the property from was in her late 80s, she was just ready to move on to a retirement community, plus our property is fairly large and it was just way too much for her to keep up with at her advanced age. We were very fortunate, not only was interest rates pretty much rock bottom, but this was during the height of the pandemic so there really wasn't anyone to buy the house to begin with (outside of investor firms). The best part was that the previous owner was willing to take off 15K, she knew we were first time buyers and her only requirement was that we took care of the property, and loved it the way she did. Things have definitely changed in just a couple years.
Those are the best kind of deals. I lived in a home that was lived by the previous owners and us. Ppl always said what a happy home it felt like. How good they felt in my home. It made me feel happy. We’ll get there again. People need to ban together and not believe the main stream media, as well as showing us how much we are different because we are way more alike. I guess you can’t blame them for trying huh?
@@di4085 it was! The day after we moved in her son brought her back one last time. The biggest reason why she sold us the house is because she had an accident, and couldn't walk up the stairs, so the sale was definitely difficult for her.
This upsets me to no end. My son is 24 and has a good job as an engineer in Savannah and he cannot afford a home. He was renting from homes 2 rent and it was $2,000. a month. The company wanted to go up to $2,200 and he decided to move. He found a private owner who is renting to him for $1,900 which is lower right now in the area.
The problem is that being an owner and renting out properties is also expensive. Imagine renting out your own home and paying not only any loan, but also the regularly increasing taxes!
You are right. Only big companies can follow that model since they have the money to lobby in the congress for less taxes, or they have the lawyers to come out clean without paying much taxes or they can creat their own "non profit charity" organization to "donate" to it and hence pay less taxes. Like man, with money you can corrupt the whole system on your favor.
The good news he's only 24 and if he can afford 2k in rent he can afford a mortgage. I just bought with 3% down like 6 months ago and my mortgage is 1700 a month... first house and I'm 35 lol... he'll be fine
I am capitalist in heart. However, I believe corporations should not be allowed to do this. There should be a limit what percent of the assets/houses they can buy in a a given area.
I agree. This is where the concept of monopolies comes into play. When a corporation owns a huge percentage of the housing, they can artificially raise the prices. That's not capitalism.
Capitalism can be used for good or ill. It is not a virtue in and of itself. Megacorps could be kneecapped simply by having the government regulate them into oblivion but unfortunately the US government is essentially owned by these megacorps, bankers, and of course foreign governments. So here we are with capitalism run amok destroying the lives of millions.
My grandfather got a house as a wedding present in 1933 for $3,000. I live on the same street, 3 blocks down, and rent half a house (a duplex) and pay more than $2,000 per month. It's not just investors that drive the price up, it is the currency devaluing every year so the government can spend more than can afford. My accountant told me I have enough money to live comfortably the rest of my life, provided I die by next Tuesday.
@@jimcrawford3185 When my grandfather passed, I sold my 1/3 of the property to my sister for $60,000 in about 2004. She leased it for 10 years, then tore it down and built a new one, and sold it for 1.3 million.
I've been screaming this for months. There should be a limit on the number of properties anyone can own! We're all sitting broke around the Monopoly board, watching the 2 remaining players hand money back and forth. What did anyone expect from corporations and Wall Street crooks snatching up homes that working-class Americans lost?? This should never have been allowed to happen!
@@nicolathonathan770 it's not capitalism anymore. Average household can't afford a new car or new house lmao. Big corporations and big farma rule over you
@@thelasttaarakianI tried looking for a house a year or two ago here in TN for around 200,000 and every one in that range were straight up garbage. I was honestly shocked that I would have to go into the 280k and up range for decent home. And this is a smaller city too I can't imagine what people are paying in larger more demanding areas.
My husband walks to two jobs and works 70+ hours a week to pay for $413 for our two sons. Rent is $1200 everywhere within a hour, requires 3x income, good credit. The country is falling apart
@@kaydublin5164 that actually has very little to do with it.. if you think that the Cheeto in chief or that Coffin dodger puppet with a hand up his ass Biden, or even tho technically the 2nd black president we ever had, John Hanson was called the first president of the United States before the Federal Constitution created the role during its ratification in 1789), who did nothing for his own culture and home city of Chicago, are actually running things in this country let alone the world, you're dreaming while asleep at the wheel thinking about the distractions of the world.. There are bigger older, and yet hardly ever spoken old names of old money that have generational wealth beyond most people recollections pulling the strings in this world to careen us down a dangerous path that I have a hard time myself wondering if prophesy in the bible was written to explain the future or there are just people who read that and are on a lifes mission to make it come true.. people only hear about the Rockefellers, the JP Morgans, Warburgs, Rothchilds and those are just popular because they own banks that own banks.. but those banks have clients often unmentionables that keep THEIR money in those banks.. there are higher tiers and without doubt, even more corruption. We are in the era of what people mistakenly identify as the end of the world by calling it an Apocalypse, which really means "A lifting of the veil". or to be made known. Why do you think all of this politics, food and water poisning, satanic worship, inter-dimensional beings/demons, the coming after your children and sex trafficiking is all of a sudden being seen and coming to lihgt? You think the good hearted people like Zuckerberg or Tik-Tok are here to help you see the evils in the world? You should look into the Medici family, the Openhiemers, the MetlersLi, the Moreira Salles, the Montagu's, Bordier's Hochstetter's, the Coutts.. Botin's to start.. theres your OLDEST money being used to pay for all the stuff you thin Trump was gonna fix.. All a 2020 election would have done is stalled the inevitable possibly 4 more years.. Remember, Our country and many others have plenty of experience in taking out our own leaders if they become to uncontrollable.. JFK, Lincoln, Saddam, Quadfi... several french, English, and German or Italian leaders been taken out too just in the last couple to 600 years. Chinese dynasties.. I mean i'm not bashing your comment as much as trying to tear the rest of the wrapping off the box of Political and historical LEGOS your looking at.
I like this guy. In real estate, people are so focused on maximizing profit (not caring who they sell or assign deals to as long as they pay the most money) that they forget what happens afterwards.....this is a great picture of what happens afterward.
And by doing so, IMuHO, they contribute significantly to the very destruction of the society and system that gave them the opportunities that they have and have had. ... Insane.
@@erude13 there is an overwhelming amount of regulation and it's still not working. Even more regulation won't help or stop capitalism. There will always be a way around something.
My advice to anyone who is renting. Stop waiting for the dream home to be in your price range, and buy what is in your price range. Then slowly fix it up by doing the work yourself (yes learn new skills). This will both make your house nicer to live in and increase your equity. Finally, sell your current home and take that equity and use it to buy a home with the bones of your dream home, and fix that up to be the house of your dreams. This process takes years, you may need to do it more than twice to get to where you want, and it requires a lot of elbow grease, but it works.
When the starting price for a home is $500K, at least in my area, I can't even afford the down payment, let alone anything else. That's what people don't realize. The homes that are for sale are too expensive for most of us. Also, even after you pay off the home, you still have to pay property tax, so you're still paying a fee to live on your own land. Sounds like renting still. So you've paid all this money to "own" your home, but you really never own the land it sits on.
@@dreamscape405 That's totally fair. I know I couldn't afford that either. The market that I'm in is similar. The only houses that are under 500k are old, small and need LOTS of work. Unfortunately I'd recommend moving out of state. :(
I am a contrarian on this issue. It all comes down to the deal. If a person can rent, and it saves them $500 a month, and then they have the discipline to actually invest that money, they will be way ahead in 5 or 10 years. It's a SAVINGS issue, NOT an ownership issue. But for most people, ownership forces saving.
@@JosephHurtsellers That's rarely the case unless you're living with mom and dad. But yeah, if you can save a significant amount of money renting then that's a good way to go
Yes, small town midwest here. Beautiful homes, bungalows, historic architecture on tree laden streets, nice people, pets, lawns and gardens. Housing from $150k to $275k for singles, couples, families. You have to be willing to give up destination, trendy areas for simple Americana.
Right? My fly over state cost me 43k for a house outright with a new roof furnace and foundation ( basement). Leave the coast and stop letting the gov spend money. It'll help
Ok but do you have jobs that can support a family or is your community one of low end employers and high priced stores. There’s no savings when you have to drive 50 miles for a job or shopping that’s not Dollar General.
This is also happening in Australia. Home buyers are selling up because they can’t afford their mortgages & the bills are insanely expensive. Which means they have to rent, but there’s a severe rental shortage here & rental prices are outrageous, creating homelessness. Now is not the tie to get into debt. It’s sheer madness to do that. Indeed it’s the road to “you will own nothing and be happy”. Are you feeling it yet?
As a land surveyor, I can confirm this is true. The majority of homes that we work on are rentals. The ones that can be owned are a million or more for starting prices.
$500k is the average STARTING price for a house in Las Vegas. And that $500k will get you a decent looking house in a mostly decent area on a small piece of land that has a big enough backyard to just be able to turn around in and that's it.
@@Superman-xr1oh I remember when my uncle bought 6 houses in Vegas for around $60k each at auction back during the last crash. He cleaned house on those properties!
Yep! You nailed it! That's exactly what is on here in Central Florida. The amount of apartment complexes being built here in my area is insane! It seems like every few miles, they are building huge complexes. And they are super expensive to rent. And there are literally NO affordable houses for sale either. Seems all hope is lost at this point.
That's what I'm seeing here in Fort Lauderdale too. An unbelievable number of apartments going up in big batches with astonishing rents. I'm starting to realize that I've been very lucky to purchase my home outright and feel I'd better hunker down and never think about moving again.
@kirnpu lucky you! I'm so jealous! We had a house lined up to be built on our vacant land in 2021, but that lousy virus spooked us out of the deal. Now, the same house is 40% higher to build. Talk about regrets! Florida is just ridiculous now.
@@borg386 I'm so sorry to hear that. My mom passed and left me enough to get into a house just as Covid was hitting. Bittersweet to be sure but when I look around now I'm thankful for the timing. I wish you luck for sure!
I recently moved to WA state from Louisiana. I had been doing research on the rental market in and around Tacoma for several years, and I became alarmed at the number of rental homes owned by companies. The rents were jacked up and the deposits, pet rent and other fees were so exhorbitant I was in despair. Fortunately, I was able to purchase a small manufactured home in excellent shape. While I don’t own the land, I do own the house, and my mortgage and lot rent are about $800 cheaper than most brick and mortar homes for rent in the area. This was the best move I could make in my tax bracket and it was not a perfect choice (I would prefer to own the land). However, given what is going on in the housing/rental market right now, I consider myself very fortunate. Excellent video, thanks for making it! Subscribed.
Moving from Louisiana to Washington... geeze. One thing about Louisiana is that you have a reasonable chance of owning a brick house with decent square footage and a little land. In western Washington, there's almost no shot at this.
Yet you’ll have dummies saying “they don’t own that many overall”. Wellyeah, they don’t in Bonneysville, Louisiana where there’s little profit motive, but in hotter markets they will own as much as half of all housing.
In my town the restaurants aren't open for lunch anymore because of staffing issues because even though they've built over 500 new units in town, they are super elitist scum bag housing that require 6 figure incomes to even get into at all. It's class war. They want us to serve them but they don't want us to live near them. It's infuriating 😡
@@robertchandler3295 Yeah keep laughing about how funny it is until we're all in concentration camps because we were conditioned not to fight for better treatment and conditions for ourselves. If society wants the blood, sweat and tears of its citizens, it better provide something in return. The societal contract goes BOTH WAYS. We are literally more barbaric and savage right now than any native peoples ever were. LOL
@@robertchandler3295well if y’all would stop invading our states after you ruined yours they would have no reason to be putting these houses and apartments up anywhere they can fit em. In my 29 years I’ve never seen a New York, New Jersey, California, Washington, or Oregon license plate in my little town and now I see them every day. That’s not “our people’s” fault, I mean I can understand why someone would sell their little bit of land when these companies are offering you money money than they’ve ever seen at one time in their life. But it’s not their fault all these transplants are coming down here creating the demand for it while also causing everyone’s rent to skyrocket. We didn’t ask for or want all these motherfuckers moving down here fucking up our home, but we’re the ones who have to deal with the consequences of all these transplants. But in 5-10 years when they fuck up our states they’ll be packing their bags fleeing the mess they helped make while we’ll still be here having to deal with all these foreclosed and rent homes that nobody wants or can afford. So don’t sit there and act like most of us wanted or asked for this bullshit because we didn’t and we can’t control what other people do with their property. All I can do is hold onto what little bit of land I got and do the best I can because this is my home, it always has been and it always will be and that means a lot to me which is something these transplants can never understand
My husband and I had already decided to sell our house in San Antonio right before he was laid off. We purchased 1 acre of land, but couldn’t build because of the crazy material hikes. We’ve been in a rental an hour away from San Antonio for two years. Our rent is $350 more than our mortgage payment. We’re stuck paying someone else’s mortgage for them. The owner is a realtor and invested in communities of duplexes that have been being built for the last two years. The work is shoddy, at best. My husband was out of work for a year and a half. I don’t work because of medical issues. Yes, I’ve been praying for the housing market to crash, so that we can either build or buy with a reasonable rate for a mortgage. This house is suppose to be our forever home. We’ve been offered twice of what we paid for our land. We’re holding off until something gives. God help all of us with this greedy world that we live in.
There's not going to be a crash. I'm a mortgage loan officer. The previous crash was due to loose and non-existent mortgage lending regulations and subprime credit offerings which no longer exist. The best that will happen is small to moderate decreases in values and pricing and sellers helping with closing costs to the tune of a couple thousand dollars. If you still have the land, perhaps look into a mobile/manufactured home such as a double wide. You may need to first go through the financing of the mobile home makers but you can immediately refi to a Fannie/FHA loan with lower interest.
I'm not going to dispute the bank employee, but I will say that a lot of people are building "tiny homes" or partially prefab ("container" homes, eg) starter houses on their land to escape rent payments. They still cost, but if you do your research and think outside the box, you can literally build a _starter_ home in the traditional sense (one that becomes the core of a larger house over time.) It might protect you to some degree against predatory practices. You might end up learning a little about architecture and a lot about contracting in the process of your research....
@@markdavidson1049 Are you saying the real estate market is not prime for correction? Real estate has blown itself up too fast in short period of time that it's ridiculous. $120,000 family home from 1960's are now selling for $2 million dollars. Majority of the people back then were able to afford this home easily. Now? They can't even afford this home today. It's a ridiculous system. The wages aren't keeping up with the home prices as almost all of the middle class are priced out. Eventually, the middle class will stop looking. The demand within them has already weakened. Home ownership decreases with every generation. This is a troubling trend for the future generations. Meanwhile the corporations intentionally keeps the inventory low and snatching up almost 90% of the real estate whenever they go on sale to rent to the middle class. It's almost as if the system was intentionally engineered only for the wealthy elites, not for everyone. In the end, it is the top 5% that will control 99% of the emerging real estate market within 20-30 years if this keeps up. This type of system is completely unsustainable. Something has to give. Otherwise, we are on set course for a violent takeover of a new system. Just like what happened in the French Revoluton.
I've seen this coming for years. I watched banks (like Blackrock) buy up entire subdivisions, and then rent them out -- forever. It's the new Landed Nobility. The reason is because they can't make money in commercial anymore. Renting is a losing financial proposition and it will destroy the economy, since people will be using more and more and more of their income for rent, instead of spending it on the market.
I’m a helicopter pilot and cross cross my state daily. I’ve been losing my mind bc all I see are new apartment buildings, McMansions or 55plus homes. Thank you for posting this video. I feel less crazy now!
I live in North Dallas area, and I did contract assignment for Invitation Homes as a Treasury Analyst for about 4 months. It was insane how much money we wired out each week purchasing BTR (Build to rent homes) I knew that this was not right.
I'm currently in that area and scared out of my mind for what will happen at the end of our lease in May. Our landlord has been incredibly nice and we pay $1,900 a month for our 3 bedroom house in a good community. I noticed a new rental house on our street the other day and looked up how much they're wanting a month. $2,500!! My husband lost his job a few months ago and has to travel to Austin M-F for work while I'm here with our 2 kids. I have no family or friends here, I do it all alone. I can't sleep at night knowing in May we will be scrambling to find a place on one income. We have a couple of pets too so an apartment will not work and 2 bedrooms are already a median average of $1,700/month. It scares me knowing we will most likely never own a home because our savings have been depleted. And like I said, our family lives 4 hours away. I've been in a funk for awhile and it seems like a dead end.
Just bought my first home from a divorce sale and added 30 minutes to my commute to work but owning is 100% worth it I like to just see my house when I go home and I do most of the repairs myself as well
In 2008 houses in my neighborhood were 20k-150k. 6 months ago a house went up for sale and sold same week at 400k. This was a rental style property with living space for 3.
Same thing is happening here in Kentucky! Prices around Lexington, even out in the country, are crazy. There are huge luxury homes, bought by people retiring here from up north, and many new luxury apartments and townhomes for rent.
Its been happening in Greensboro, NC for the last 8 years. Any stitch of land available they are building apartments and rental home communities that have built apartments in addition to the build to rent houses that were currently on the property. It's insanity. I was glad I listened to my real-estate agent and ended up getting something when rental rates soared above what most people could afford. But sad I didn't know enough to get a home when the market was affordable in 2015. In 2022 when I stated hunting for affordable homes, those would get so many offers, I couldn't even compete. One home had 35 offers on it. It was insanity. As a single person, I couldn't compete. Thankfully I had a friend selling her place this year and gave me an incredible price and I got a great fixed interest rate from my credit union (5.6) especially when they Fed raised rates around 7 to 8%. Right now unless you make six figures you can barely afford anything especially since investors invade buying up apartments and raising rents.
My wife was real estate agent, and quit when her customer, who was a local firefighter, was denied a home for one of those cash offers. Her agency allowed it to happen over her
I hope that home gets squatted in and turned into a moneypit in order to fix it. If that happened near us I'd drop a hint to my old homeless friends that some foreigner or investor who will never visit bought the place.
@@rokko_fable squatters need to learn from this group in Oakland, CA. Four mothers took their kids and occupied an empty building on Magnolia Street in Oakland, CA that had been vacant for years and owned by Wedgewood Homes, a real estate giant. They won that fight when Wedgewood sold that property to a land trust. THIS is what needs to happen all over this country. That story is here..ua-cam.com/video/A_gvQxePRUE/v-deo.html
I built houses for years. I'm now dedicating my time and expertise to building my children their homes. We can build a 2400 square foot log cabin for under 40k, not including the $750 per acre for land.
@utubeskreename9516 Sw Virginia. We divided my grandparents estate, and I ended up with a 186, a 165, and a 38 acre patch. It cost me $284,500, so that is actually $731.36 per acre. The return will be in the massive timber.
@@billywalker9223 Definitely a uniquely valuable gift your grandparents left you. I would parcel a few small plots off for for family and then proceed to become a multi-millionaire selling off the rest at a current fair market value (very likely much more than $731/acre now) plus a fair profit on each on-site cabin build. Good luck.
Yep personally, I think there should be a limit on properties you can own because people are trying to monopolize real estate. And the channels telling people to rent instead of buy are the people buying the homes to rent them out
@@nicolathonathan770 You don’t know the Founding Fathers well, then. They drew a distinction between freedom and liberty, and chose liberty over freedom. In Europe now they have freedom but very little liberty. Here were have some freedom and a lot of liberty.
Sadly, way too many people have bought into the lie that renting is better than owning. I just had this conversation with two young people at work. They were both totally convinced that it is always better to rent than buy. The fact that each of their 1000 sq. ft. apartments cost more than twice per month what the monthly mortgage is on my 3000 sq. ft. home is. They argued "Of course it is cheaper, you bought 20 years ago..." Yes, that is the point. My mortgage is the same now as it was 20 years ago. Their current $2000 per month rent will be $4000 per month in 20 years. A $2000 mortgage payment today will still be $2000 in 20 years.
@chiplangowski32984 I had young guys at work also telling me the its better to rent BS about 10 years ago. (They also said getting married is financially stupid. But I digress) Its like as inflation goes up and rent goes up your mortgage stays the same and gets paid off… But anyway, I explained to them how my rental property performed and they still weren’t convinced. Guess they want to learn the hard way
Breath of fresh air. I am in my mid 20s, my wife now 22. We've been married now less than a year and are looking to purchase our first home next. Things are crazy, but nothing is more crazy than throwing money away renting. I am subscribed. Your video was straight to the point. Excellent content.
Good for you that you realize it at such a young age. Im 46 now and have thrown away soooo much money renting. I now realize it and im boycotting ever renting again.
I live in a beautiful subdivision in the Midwest and we purposely amended our CC&R’s to a very minimal percentage of dwellings allowed to be rented out at any given time. The big corporations have no interest in buying here. We are thrilled by that.
@@erude13 the way I see it big and local government are so involved in making money on it anymore that I have no faith in laws truly being passed and enforced. We have to do it it at the community level. Unfortunately many neighborhoods are already so heavily entrenched with rentals that they can’t get a quorum together to make the change. But I wish more homeowners and neighborhoods would get smart and do it while they still can!
@@maplenook not really. We are not at our maximum of allowed rental units now but it still deters the companies wanting to monopolize the majority of a neighborhood. Truth be told though we are not a rental type neighborhood and I would rather sell to keep what is part of the amazing here for all that remain.
I bought a really nice turnkey 3 bed / 2 bath home around 2100 sq ft for $193,000 last year. I had to leave Dallas, TX and move to the Midwest to find such a deal.
My mom is a 63 year old retiree real estate agent who has MS with no retirement fund saved up (because she blew her 401k helping me as i grew up). She has stayed away from the real estate market for a few years now in order to focus on her personal home business. Recently, my 30 year old sister decided she's ready to buy a house here in Colorado. Her husband's neighbor recently passed away by an accidental death on vacation. They decided they wanted to buy that house since it was in the same neighborhood (just down the street). My mom worked hard on the contract for months. It came down to a bid war last week. Without even offering a counter bid they sold the house off to a rich investor so he can rent it out. To put it lightly my sister and her husband were devastated, and so was my mother. She was exhausted from working hard on the contract day and night even with her multiple sclerosis and really needed the money as she doesn't have a retirement fund. They never even let them counter offer more than once. This was in the Denver, Colorado area.
I’m a Denver Metro agent. I’m really sorry to hear this. I work with so many first time buyers and have encountered this many times. It’s hard. Especially in certain areas around Denver. It used to be people would treat others like people. Now it feels like it’s all about the money 😞
That is so sad. There needs to be regulations on these idiots! This is destroying people's will's to live. We are not dumbing down to their selfish ideals... I'm surprised the sellers didn't think twice about who was buying their home. I'm very sorry, I hope your sister and her husband find a home they love soon.
I'm grateful I was able to buy my little 780 sq ft house in 2009 thanks to a small inheritance. Fixed rate mortgage, less than you can find now, my payment doesn't vary by more than 50 bucks each year so I don't get big nasty surprises. I live in an older city neighborhood (built before 1950) that has a lot of smaller homes that are more affordable for lower middle class people. There are times when I wish I had something larger but I have all the space I really need and it's a good little house.
In the past 5-10 years my city has built at least 10 new loft complexes and rent has been skyrocketing tremendously. Just a couple years ago you could rent a 3 bedroom for $1200-$1800/mo but now they’re $2500-$4000/mo . It’s absolutely insane. I’m glad I inherited the house and land I live in because I’d plan on getting The hell away from here if otherwise.
In 2005 my home costed 65k in Houston, the neighborhood was not very good and not very bad . Few months ago many people started selling their homes for 250-300k and went to cheap city apartments given by the builder of moved out of the country . The renovated those homes(which they did a very good job though) and made that part of suburbs like a luxury modern home complex. They offered me 350k cash but I refused cuz I am 53, East European immigrant ,wife died and I got a 19 year old daughter who is not that good at studies so I want her to have a home when I am not around.
It's insanity. As the supply goes up, costs should go down. But the market is clearly being manipulated. The govt certainly messes up a lot, but in this scenario there needs to be action.
30 years ago when I moved to middle Tennessee homes were very affordable. Now it's one of the most expensive. Tons of apartments and townhoses going up. The townhouses are the most affordable starting at around 300,000. Not a lot for your money. We need starter homes like the 900-1200 square foot starter homes that went up after WWII. In the suburbs of Nashville hardly anything for less than $400,000.
I feel like the best path forward is better rent protections like they have in Germany as well as limits on corporate ownership of homes. I do think that SFH rentals make sense for many people but that shouldn't come at the expense of able folks being able to buy a home. One thing you said that really stuck with me was how you used your money from your first house to put into your second. That was my plan too but the second house that would have been 50-100k more is now 200-300k more than my current home and even if I put every dollar of "profit" into the new home I'd still be looking at a monthly payment over double what I pay now which wouldn't be prudent given the state of my industry. Funny thing is that I bet there's government money to build affordable homes but it probably goes to large companies who understand the system and who build 1 affordable home for every 20 they profit bigly off.
I am in a similar position. I want to cash out pay high interest debt and buy something else but shit is so high. Like 600k for 1400 sq Ft still needs a little work in a relatively safe area. If it were 2009 again
You want to know where all that government money for healthcare, affordable housing, education, etcs goes? Vietnam. Iraq. Afghanistan. Ukraine. It goes to stupid senseless wars and our over bloated military budget.
I live in a rural community of 400 people. I was SHOCKED when looking at rental prices! $2400 for a double wide mobile home! Fortunately, I was given an acre+ and with $50K was able to have a wonderful home in a park like setting. Monthly payments are under $200... that's $40 over the required amount so we're bringing down the principle...ON $200 PER MONTH! It's a shame what's going on.
You are 100% correct, sir, and I wish more Americans were aware of this. From where I sit, America's greatest legacy is the creation of a large middle class that served as the basis for all of our contributions to a better world. For the past 40 years, we've chipped away at that legacy and what you describe here shines a light on one of the primary reasons for our troubles. Thank you.
This same thing is happening here in Mesa, AZ. The east valley is being flooded with 4 story apartments. And any homes that are being build have no yards. Just side patios. Unless you can buy a house and yard for 800k. Those 800k properties were just 300k 10 years ago
Same thing here in worthless St. George utah. Absolutely nothing here but dirt and heat but homes are no less than 500k and they were 200k 10 years ago. The new homes being built are all worthless junk built with the cheapest materials possible but being sold for higher than ever.
This is happening all over Huntsville, AL. Tons of new apartments and townhouses that people will never own. I own my house but is hardly what you would consider a “starter house” for my first home- I had to pay a fair amount for mine and it’s nice but a little bit for just me. But it was what I could build in my area. I was thinking about selling but I also feel like holding onto it might be best in the long run.
You should hold on… who knows where you’ll have to live after you’ve sold it? You own yours. Stay put because you don’t know where you’ll end up or how much you’ll have to pay once it’s gone
50+ years experience here and I can say you are spot on with your understanding of this now Real Estate Phenomenon. One thing I can add as they the Black rocks etc. also can control prices of homes now with their monopolization!
I'm 55 and graduated 1986 most of my friends did not go to college yet most of my friends own our homes. Few of my friends went to college but there are no difference with my friends that did not go to college. 90's and 2000's we put 20k down and can get into a house with reasonable mortgage payments. Those days are long gone. We live in So. Cal. and now new owners need to make over 200k year plus to get into a house.
Thank you for this explanation! I have been wondering what the end game was here… I live in Philadelphia and there are “luxury” apartments popping up everywhere there is an empty lot. I couldn’t figure it out and the cost of rent and homes are ridiculous. It’s shameful. I’m so fortunate to have purchased my home fall 2020 which was overpriced then. The city reassessed and it’s up $85K in value increasing my taxes. Thank you again for this vid. I now understand I REALLY need to do whatever it takes to hold on to my home.
Great video, it’s happening here in Australia, with very high land taxes, high home insurance, high state taxes, to push you out of your house to sell.. then ultimately rent..
I live in South Florida, another trend I see is the government getting in the rental business. They offer landlords big money to turn residential homes into "Sober living" homes, or "Half way" housing. Or section 8. The more a society decays, the more of these types of programs flourish. I own my home right next to a "Sober living " house, nothing sober about it. The police or fire rescue are there at least twice a week for years! I have seens fights, mental break downs. Also a high turnover rate. Any of the tenants that I got to know or are friendly with never last too long anyway. From what I hear , the government gives the landlord $600 per person, they put 2 people in bunk beds in each bedroom . So the house next to me has 6 unstable adult children at a time.
That is so infuriating! Your hard earned tax dollars at work paying for those who can’t or won’t do for themselves. Forced charity is BS, let real charities and churches deal with this not our government, not with OUR $$$. Section 8 really makes me sick especially. There’s people working so hard who can’t afford a house but some shit stain on society gets a free one at the taxpayer’s expense. In AZ with raising costs and a new flood of CA moving in some are advocating for more government assistance here. I guess they didn’t learn from their failed state of CA that it doesn’t work because who pays for all that free shit? They would have to raise property taxes and eventually causing the same problem they’re trying to solve.
Back in 2012 at the bottom of the market I bought a house in decent condition in a good neighborhood for under $20K. It was bank owned and had been sitting for a couple of years.I pulled the money from my 401K because I felt this was a once in a lifetime deal. I tried to get some of the people I worked with to do the same but not one person did. To me the best thing everyone can do is arm themselves with knowledge.
Yep this is exactly thing is happening where I live !! Stuart Florida. Massive apartments are being built along with huge developments all for rent only !! And the rest that are for sale are unaffordable even for a Senior Engineer!! The middle class is being destroyed!! Dark times coming !!!
We live in central Texas, about 30 miles north of Austin. There’s a rental home development next to our residential development. Huge apartment complexes are being built in all the towns/cities within commuting distance to Austin. Also “apartment homes” retail developments and mini-home/2 unit condo developments. New & existing single family homes have doubled in cost & are out of reach for most first home buyers. But the building rate & scope/size of new apartment developments is truly astonishing.
@@abark Biden has let in around 10 million people over the southern border in just 2 years... they have to live somewhere, some will buy, most will rent with tax payer subsidies... get that... you are paying their rent which lifts up the price of rent, you are paying for your own demise.
I live about 2.5 hours from Austin and I see a lot of 3 story buildings off of 183 in Leander. I don't know why they're building all of that when there are many SFRs sitting in the market for sale 60+ days
They are building apartments with NO parking.. they are shutting down the peasants.. turning off EVERYTHING, even water.. haven’t you noticed? It’s been happening for DECADES. That fact that it’s been the plan for maybe 50 years is disturbing..
It's been happening since 1913 when the 3rd central bank was started. One thing to consider is also the huge push for EVs for the plebs so we can't move very far in a timely fashion, the apartments with no parking is totally in line with the push for EVs and 15 minutes cities. Peak liberalism.
Really come into its own with the Democrats, WEF, UN, etc. Sociopathic Central planners who want to cut carbon footprints and want the world population shaved by 80%.
Before 2008, they were giving "no money down" loans out, and even letting people borrow more than the value of their homes, which helped bring about the housing crash. So that was 15 years ago, and the banks finally got those houses off their books. This commercial real estate investing taking up so much of a larger portion of the residential real estate market is what is causing housing prices to artificially inflate, by converting home sales to rentals. The potential damage is incalculable, but it is huge. The Government is going to have to put controls in place, or things are going to become very, very bleak for the consumer. And I don't mean pricing controls, which would make things worse; I mean commercial real estate investing should only be limited to a certain percentage of the individual housing market.
Portland OR here, lots of old homes bought up in cash over the last 6yrs. Tons of new construction of apartments and multifamily homes. Awesome video, thank you!
Down here in south florida the cheapest new 3/2 home is a townhouse/condo starting at $380k. The new single family homes are 4-5bed/3bath and are starting at $540k with hoa, $760k for non hoa. Average household income here is $57k 😢
Solid analysis ! Many other VLOG channels pushing a RE Crash refuse to look at the supply side and corporate raiders creating a different dynamic tha the last downturn.
My wife and I were persistent in 2022… we kept trying and everything really found a home we really liked. Now it’s the Boston area so we all know that everyone who bought overpaid but it wasn’t as much as we had expected. We were able to lock in at the low 5’s for interest and got the area and school system we wanted. Don’t give up and be persistent!
Starter homes are so rare in Metro Atlanta. My wife and I made an offer on a 1200 sq ft 1940s home sight unseen. It had over 5 offers in 2018 the same day it listed. We did get the home. Fast forward during Covid, the big investment companies are building entire subdivisions for rent here. Starting rent is about $2k. Tons of “luxury” apartments and rental neighborhoods going in
I built my house with my own two hands 57 years ago. Since I retired I have accumulated $70,000 in back property tax debt. Social Security is simply isn't enough to cover the bills.
They have done everything to make it so you cant own anything in this country.. No disrespect, but it may be time to rent out a room or two or the house and use that money to help pay the property taxes each year and supplement a lesser expensive place for your self. A house isnt an asset unless its making you money,even if paid off or built with our hands. You and everyone else in these comments were sold a lie based upon a debt based monetary policy that works off of Negatives, not positives of banking. and it all started in With the ACT of 1871, furthered in 1909, 1913, 1928, 1933, 1954, 1964, 1968, 1984, 1995, 2001, 2008, 2016, 2023....
Sell the house and move to a State which has no property tax for the elderly. You would need to look it up, but I fairly certain that one of those States is Kansas.
People are going to have to go with multigenerational extended-family homes (or "compounds"). Everyone in a family paying for their own place is ridiculous. Those days are over.
@@redraiderrider3289 That's unfortunate. The alternative is intentional communities with non-family members. Americans love their independence. But economics might force the issue. We might even see a revival of boarding houses run by spinsters.
I currently work for property development and management company which does extensive BTR (with major wall street backing) as well as large wholesale acquisitions of existing single family homes (also to be ultimately owned by big wall street funding, and even private investments by foreign nationals), and I can verify 100% of what you are saying as far as the monopolization and public disenfranchisement of first time home buyers, all to profit off of a shortage of a basic human need. I tried to ignore my own conscious on it for a long time, and all that has done is just completely blow out my cognitive dissonance and just push my daily anxiety through the roof. I am actively looking for other positions and hope to be out soon, but yeah, it's machine, and it's a big problem that will come home to roost, and the later it takes to see action on it, the worse off everyone in this country will be. It's truly terrifying.
I really appreciate your comment. It’s nice knowing there are still a few good people in the world that actually get it. Thank you! (I’m a homeless vet)
Thank you so much for sharing your story here with others here on this channel. Truly appreciate you taking the time to watch and comment and I’ll see you in the next video.
I live in New Jersey, we have had an explosion of apartment building construction. Even in the worst of neighborhoods, wealthy investors are constructing luxury high cost rentals units at ridiculously high prices. Latin America is looking much better in retirement. I spent 6 months in Antigua Guatemala, a breath taking beautiful city in a very comfortable beautiful apartment for $300 per month. My 3 daily freshly prepared meals at exclusive restaurants cost me about $35 per day. 😊
Hows the gang violence? Lol. I have family in Brazil. Lived in Chile for a bit too. Would never want to live anywhere where iron bars over windows and doors and broken glass bottle lines walls are the norm.
In Cleveland OH there are very few post WW2 "GI Bill Bungalows" available in neighborhoods that are safe with decent schools. Those neighborhoods are owned by Section 8 landlords and have gone to hell. But those rental apartment buildings are going up fast in trendy neighborhoods closer to Progressive Field and Browns Stadium. Millennials are living there.
If you rent for awhile in the same place and the market goes up and they can't raise your rent, you start to feel like they want you to move so they can double the rent.
Thanks for saying what I’ve been thinking. All these “buying your home for cash” buyers that advertise are the tip of the sword for the commercial housing rentals. They promise you can stay in your home for 6 months, no repairs or showings and we’ll pay thousands more than selling the traditional way. This is the driving force in the rising rents and home prices. Don’t sell to these companies! The other collateral damage is the rise in the homeless population when people can no longer afford to pay for a roof over their heads.
I am so glad you brought up investment and pension funds being reliant on these. I don't know if this is the case everywhere but, right now more and more rentals and flipped properties are staying on the market. I do HVAC repairs for a living and I have been doing tons of home inspections/repairs and the amount of financially stressed companies/landlords/owners are increasing at an alarming rate. If I had a pension I would genuinely inquire on what % of that is rental property especially luxury rental property.
I live in a nice suburb of St. Louis in a neighborhood of 50 year old houses. On my block, the 2 homes that went up for sale were bought for outrageous prices by commercial investors, fixed up and rented out for more than $2000/month. One house was resold in a package deal from one investor to another. They are totally squeezing out the individual home owner market by paying way above market value. I also see lots of empty new apartment buildings. I cannot figure out why they keep building them.
@@jibberjabber-fm6pb Do you think the owners are trying to recoup insurance costs, which I hear are outrageous in Florida? Either way, those are ridiculously priced.
I live in San Diego, finally established in a good career with no debt and saving for a down payment for a house, yet as I look at the market for anything in my area, I realize that my chances are next to zero, any decently affordable place that goes up is under contract within 48 hours. For example, a 850 square foot 2 bed 1 bath single family home went up for 650k, now in San Diego that’s about as affordable as it gets, it was bought within 2 days
How Many ppl) Have this kind 💰💰💰💰💰🎓🎓) I think china has an over abundance of New apartments🤣🤣🤣🤣😤🎓🎓🎓) at least) they'll have apartments) for homeless or lazy ppl🎓🎓), that occur) no thing homeless 🎓🎓)
I moved out of SD a year ago To chattanooga. I think I heard a door shut behind me when I bought my house here. Prices have sky rocketed with interest here. Lots of people are fleeing to here. I don't know if you should stay(do you surf?). However I don't know where to run for a good investment home anymore either. Maybe Alaska
I think I’m in the echo chamber because I’ve been saying the same thing on a bunch of real estate videos. I’m seeing this in Florida big time! Tons of rentals! No relief in sight.
Wow this is great information. I’m tired of giving away my money and currently pay $2250 for a 3bdrm condo in Miami from $1600 which I was previously paying. The rentals here are ridiculous and they have gone up so much. We had many people move from NY, NJ, CA and TX move here in droves buying everything up in cash and bringing their big sale ties here. However, our cost of living and salaries don’t compare to theirs and we can’t find an affordable home here. The are outrageous bidding wars and don’t make sense and I’m not falling into that rabbit hole. Unfortunately I’m not able to work remotely or I would have left Miami already, I do love my job and what I do and have been considering a bigger commute if it can get me into a decent home and mortgage. It’s been so depressing and discouraging at the same time how these organizations take advantage and price us hard working people out….I too would like to have that American dream 😞
Actually, the main reason that you see the increased housing costs in Florida is the insurance companies leaving and the remaining ones jacking up their premiums. Because of this, many home owners (including the newer ones from out of state) are selling and leaving Florida.
Don’t forget about the amount of speculators driven the real estate bubble in south Florida. Certain areas like Wynwood are over 60 percent investors buying.
I noticed all the new apartments going up in and around the Los Angeles area. I assumed the same thing, even though the American dream was never an option for me, I still have hopes for my daughter who has a college education. But I know exactly what you're saying, And if thoughts create Things, I'm thinking that they'll lose.
This man speaks truth. I live in north GA and can tell you all new construction is for apartment rentals. It's so sad to see. Todays young adults have NO chance. On top of that, there is a new trend to ship white collar jobs to Colombia and India. Wake up America.
Yes and it is intentional, planned out over 100 years ago. This plan has many stages and angles. Research: Naomi Wolf (the end of america, Rosa Koire, Yuri Bezmenov, Charlotte T. Iserbyt, Arthur R.Thompson former CEO of the JBS, author of To The Victor go The Myths and Monuments
Eye opening thank you. I live in a home great grandfather built in Portland Oregon and this is happening on a mass scale, tearing down the old homes like mine and putting these up in the lots heartbreaking to watch and even harder to watch no one living in them but rather on the streets at their front doors. Truly truly I say unto this generation the end is nigh at hand, behold the bridegroom cometh!
Thank you for this very informative video!!! I definitely would like to learn more about this!!! So many people have no idea and refuse to wake up and smell the coffee!! Thank you for all you do, and all your very informative videos!!!
I've been watching the home market in my area for last three years - it is INSANE. The cheaper side of the homes are either "bull dozer ready" or get snatched up so quick then back on market in a couple months with a crazy price (example: 500 sq ft home at 48k, bought and reposted at 115k) They get put up for rentals or the price is off the charts and all that was done was home was repaint. Thats it. Rinse repeat. So yep I see it.
Knoxville TN is seeing a ton of new apartment complexes being built. One huge one is being built in what was business. It’s surrounded by nothing but businesses with a US Cellular office (not a phone store), Fed Ex distribution center, and other small biz offices (not retail). How the hell did that get changed? It’s hugely out of place.
That is happening in Cincinnati, Ohio. Middle class and low income are on the street. Low income housing for seniors is limited here. To get in you can’t own a home. You need to be living on the street. People are pushed out in low housing areas in Cincinnati; investors are buying up the low housing and in Cincinnati Ohio and reselling for over $322,000. And of course rents are very high.
I live midway between Chicago and Milwaukee, right on the state line. There are a number of towns around here that are deliberately putting up 55+ low-income apartment buildings. The typical limit on income is around $30K for a single, $40K for a couple. The reason the towns are doing that is to hit the requirement on the amount of low income housing the fed demands being in each locale. Seniors are less trouble than 20-somethings as the 20-somethings have kids, loud parties, drugs, shootings, don't take care of their units, couples fighting at 2AM. Seniors are quiet, well-behaved, the cops aren't being called out to break up fights or pick up bodies after drive by shootings. So, yeah, I can see why towns go with low-income buildings for seniors.
I’ve been watching this happen for the last 7 years in Atlanta. First Key is one of the biggest. Them and progress residential are building entire communities to rent. The have thousands of properties in Atlanta alone. And they are doubling down with the over priced market
We have not had anywhere near enough homes built in our area (Port Angeles, WA). I’d love to see some new capacity in our area! However, given global inflation, the definition of “affordable” is fluid. You can’t expect any 3 bedroom home under $250k (with most 3-400). These seem ridiculously cheap from a Californian perspective, but it is killing the existing locals. The only solutions I see are more high density housing builds or more high paying jobs.
I see dozens of duplexes and townhomes going up around me but I don't see them listed for sale publicly. I'm luckily my rent has only gone up $20/month over then last 5 years so it's still cheaper to rent versus the mortgage rate for what is available in my area.
I live in CT. I've been trying to buy a home for over a year. Unfortunately the market went completely haywire..... A simple raised ranch that went for 200k just a few years ago is currently going for 450k. I've been waiting for things to come back to reality but sadly it seems I may be one of these unfortunate middle class Americans that is destined to rent for life. I simply cannot afford a home of my own in this current market.
So you pay someone elses mortgage by renting and earn no equity... although it doesn't really matter anymore becsuse this is exactly what Rosa Koire and others have been warning us about for years.
@@rjbradlowif he can’t afford a 450k home what other option does he have. Stop blaming renters. We are trying to buy but there’s nothing out there. I rent as well cause I can’t afford 450 k home… then to be hit with a higher insurance and higher taxes,,, I hope all of this blows up… houses are going up way too fast!
@@jocerod123smaller houses? Apartments? Condos? Mobile homes? Buy a lot and live in an RV? I’m sure there are properties below 450k in CT. People just don’t want to face the reality they can no longer afford the house they could a few years ago.
When you don't own anything and are simply working to pay someone else, it's called feudalism. Welcome to our new overlords.
When feudalism becomes inescapable, violence will become necessary. The fat cats on wall Street always looking to exploit the nation for greed, then ask for bail outs from the same tax payers they were exploiting. No more bail outs!
Tyjohnstone: You are ABSOLUTELY correct!! No wonder they stopped teaching history in schools. This generation can't find Europe on a map, 😮 let alone understand the concept of feudalism!
If "ignorance is bliss," then we need to redefine the definition of BLISS!!!
Own.
If you don't owe anything who are you paying?
Klaus Shwab approves this message.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
@GrassGroomersLLC
To be fair, Jefferson was talking about private banks in the sense of corporatism, not central banking system. The central banking we have today are owned by the top .01% wealthy elites who writes the rules in their favor.
The private banks and the top .01% wealthy elites have no sense of loyalty or the well being of the people. They are only interested in one thing. Profit above all.
@@Michael45007AND SELF INTEREST + WILL NEVER HAVE "ENOUGH"
@@Michael45007You probably won’t like what I have to say but the only way to get the 0.01 % to start changing things is to start talking socialism. That scares them sh**less. I am not for it but I would take it over feudalism.
@@GrassGroomersLLC makes no difference. with time; it all erodes
@@sammavitae114
I agree. Social capitalism is exactly what this country needs. Not crony capitalism which is what we have today.
People need to recognize the difference and how we used to be a social capitalist country under FDR and Eisenhower but we started to turn into crony capitalist country especially after Reagan implemented side supply economics also known as trickle down economics. Fast forward to what we have today, corporations and top .01% wealthy elites controlling the governnent to write laws in their favor. They hate regulations because they don't want to work hard. They don't want to follow the laws. They want to freely do whatever they want. We really do have two tier court system. One for the commoners and one for the .01% wealthy elites. We really do have the problem of treating our wealthy elite masters with kiddie gloves when it comes to push.
“If you don’t own your future, someone else does”. What a profound statement. Pretty much sums up what’s going on right now.
I am so glad that you heard that!… because you were the first person to comment. If you don’t own your future, someone else does…truly appreciate you taking the time to watch, and comment and I’ll see you in the next video
thAnk you Very much
My husband and I were extremely lucky. We were living together in 2007 - unmarried at the time - in an apartment complex and hated apartment living. Sharing walls, floors, and ceilings with others sucks. He proposed, then the housing market crashed and we immediately started looking for a house. Everyone was saying don't buy a house because of the market, but I knew they were completely wrong on that one. We bought a foreclosure for 215k, which was 100k less than the previous people bought it for in 2006. Our home today is worth over 400k, pretty much double what we paid. We couldn't afford to buy our own house today. The rent on our house would be over 3 times our mortgage payment. The real estate taxes are awful, but we've worked hard to pay off our home early and will be done in 2 years. Best decision we ever made was buying our house.
🎉🙏🏾👏🏾 well done
You went about the smart way, in that you bought at a low point and hustled hard to pay it off early. You probably saved a hell of a lot in interest by paying it off early.
And what of the unfortunate souls who lost their home?
So you got lucky and profited off someone else's loss. Should be a foolproof plan for everyone to follow.
@@jonezy6056 They're renting and living hand to mouth.
It’s truly unfolding right before our eyes. I was in the market to purchase last year under $200k and most of the homes were getting snatched by cash buyers. Fast forward to today and those same homes are back on the market, $200k more than they were last year. Now with fresh paint and floors. SICKENING.
Dont buy from them!!🤬 Youre making them richer😢
That happened to me! I just getting pushed out by cash buyers. One person wouldn’t even let me counter offer because they were getting cash . I have as prequalified for more than I offered so my loan was good.
If that's the case, there really isn't anything "sickening" about it. If nobody was in the market to pay $400k for a house that was selling for $200k just last year, they'd have to lower the price. But if there ARE people willing to pay that amount, that's just free market economics. On a smaller scale, if you had something for sale and one person offered you $50 for it, while another person offered you $100, which offer would you take? If you choose the latter offer, can the person who offered half as much claim that you're just a greedy capitalist? Of course what the video is discussing is a bit more devious than that, because these rental companies are using massive capital to buy up available properties and FORCE people to rent because they own all of the inventory, but what you're talking about is entirely different because those same homes are going right back on the market and selling for a much higher price.
@@AdamMontgomery1You said a lot of words there, but it’s just rich people getting richer. No house should increase 250% unless it’s by design. A blue collar job, which is arguably the hardest jobs in the US, aren’t paying out like they did in previous generations due to inflation and the falling dollar. We’re looking more screwed by the day unless there’s a course correction. I’ll be too old to care by then tough.
@@AdamMontgomery1 ua-cam.com/video/OiNlCXGt2IY/v-deo.html
My small village of less than 800 people started doing this by having the richest people in town buying out all the housing, and renting it out. Basically, preventing any new actual homeowners from coming in. Not only is this controlling, but essentially the beginning of feudalism in my area. I'm just waiting for them to start building a castle and a mote.
The solution to that is a bottle, a rag, and some diesel fuel...but I could be wrong idk.
Republicans made the tax laws that allow them to do this. Blackrock can buy 60,000 homes and depreciate every one of them every year. You scrimp and save for a decade to buy one, and you can never depreciate it one penny. Forty years of Republican tax cuts for the obscenely wealthy and corporations have allowed this and all the other perks and benefits they have given the wealthy. Demand change, demand forty years of Republican tax cuts for the wealthy be repealed and the loopholes too. They have all been added to the deficits by Republicans, giving us the national debt we have.
Same thing happening my town.
@@Whocareslol420 if it wasn't a tankie catalyst, I'd agree. As I identify as an evil Trumper, I do not think I would be spared the sword so that's gonna be a no from me dog
Research Rosa Koire
They don't want you to own a home because rent means they can take away your home at any time, it gives them leverage over you so that you have to constantly work, live by HOA standards, and be evicted at a moment's notice or other factors. Owning your own land and own home is the most powerful thing you can do. Our area has recently been building a lot of apartments and they aren't even nice. They look crappy
Even if you own your home and land they can still take it away at a moments notice through eminent domain or price you out through property taxes.
Read your deed to your property. I'll guarantee it does not say you "own" the property. It will, more likely, say you are a tenant (tenants in common, etc.). There is no such thing as "ownership" since the "Allodial title" was done away with, in Tennessee, in the 1930's. An Allodial title was actual ownership of real property. The closest thing to actual ownership, now, is the Fee Simple Warranty Deed, which is not actual ownership. Do your research. Surprise!
Same shit going on in austin
Most powerful thing to a certain extent... for example, there's a little more sense of freedom as an "owner" to reside in it, and there's also the option to bank on it by renting it out for a decent monthly return of investment... but even if the property is completely paid for, stop paying those property taxes and see who really owns it afterall. It's all smoke and mirrors, really. Some of us are the magicians, and most of us are part of the audience... and we all know that it's just a trick.
The other thing I don't see people mention enough is that living in apartments absolutely sucks. Walls are usually way too thin, upstairs neighbors tend to stomp too much, and there's just a complete lack of privacy in general. Even if you have good neighbors there will be normal living noise, which is still highly annoying to me personally. I don't want to hear it and I don't want them hearing my normal living noise. I don't believe non related people are meant to live that close together. Can't watch a TV very loud where you can actually hear and enjoy it, or listen to music...and when you have bad neighbors your life will be HELL. The lack of privacy that comes with apartment living is unacceptable for a long term living situation for me. I had no choice but to live in apartments for years and I hated every second of it with a passion.
Corporate landlords are buying starter homes to make them into rentals. This is the end of the American dream. It's the final nail in the coffin ⚰️
the population needs to literrally eliminate the ruling class.
Nah. Know your history. We need to get back to what our ancestors did. Purchase land and build your own house in it. Fuck a traditional mortgage. Stop trying to keep up with the Joneses. Educate yourself. The AmeriKKKan dream was never a dream of mine.
@@edhutch8946 Has been done before but a new ruling class always takes their place. Same tactics, different game.
@@edhutch8946 Yep and they should be taxed 100% on all of their earnings and assets.
@@edhutch8946The houses and apartments are their power over us. If something happened to them, they'd be out a lot of money and be forced to sell to developers at huge losses. Can't imagine insurance footing the bill.
My plan is to let my kids stay with me unless and until they can actually afford a home. I refuse to feed any money into this dystopian feudal/rental system. The best way to deal with corporations that hate you (apart from government action) is to starve them of money. Don't consume what they are trying to sell. Eventually they will have to go bankrupt or start selling a better product.
They can make that change by all kinds of taxes and 'members per household' tax rules and new laws and then pave the fields over with black plastic and metal and call it 'saving the environment'. but i like your spirit!
@@topsuperseven7910 "They" are not in charge. "We the People" are in charge. If only enough people realized this truth. WE are the leaders. THEY are our servants.
@@lucycat4305 Not anymore.
@@topsuperseven7910 I have 3 hard working young adult children living with us right now (20, 21 and 23). My husband and I promised them that working hard doing something you love is the first step towards the American Dream. They all do that and I am not ready to give up on that dream! When I find myself falling into nihilism, I think of them and their future and prepare for the battle.
It’s also biblical too. You’re doing the right thing.
“If you don’t own your future. Someone else does.” That’s Powerful! Well said 👏👏👏
I live in Memphis TN. Our house was paid for and it burned down. Fortunately we had great insurance. So we are moving to Oakland, TN paying cash again which is a $440,000 new house. We are blessed but so many aren’t. Housing has exceeded the cost of what ppl can pay. I’m a licensed real estate agent and also a licensed contractor and my daughter is getting her contractor license and we want to buy property from the city to build smaller homes so lower income ppl can purchase a home. It’s gotten so bad in our area, all that’s being built are high end high cost apartments. We want to help ppl not hurt them. Greed has taken over our world, no one wants to help others anymore. Well I’m going to do my best to change this in my community God willing.
Sounds like a rv mobile home park will be fastest way to get something going to help others with housing … I think
🙏
I live in Cordova, paying $1725/mth 3 bdrm, 2 bath... It's too much but cheaper than buying right now..
@@Sassywhitclass
I live in a 2017 Hyundai Accent hatchback in the AZ desert (Cochise Co)
My car pymts are $226 a month
Nobody hassles me, l park in a different spot ea nite
God bless you and your daughter. I hope you are successful in your endeavors.
And it’s crazy how there’s people out here defending BlackRock, BlackStone, Vanguard, and State Street thinking that we are “conspiracy theorists” when it’s happening in front of our faces. You can ask anyone in the real estate and construction industry who the real buyers are in the developments.
Up to a month ago I was paying $930 for my mortgage. Now it’s $1026 because taxes and insurance went up. I consider myself lucky because the average rent in my area is $2250 for a single family home similar to mine. So buying an affordable house a decade ago is a decision that is now saving me over 50% in housing expenses.
@@williamlyons3947You would’ve already owned your house with income like that but here you are watching this…😂
Only the beginning
You are lucky to have insurance: ours doubled...in florida people unable to get insurance- 18 insurance companies left the state since last hurricane.
My son and his girlfriend are up in New Jersey (I'm in Georgia) looking for a place to rent. A 1 bedroom (Jersey shore) is 2k. I know what you mean with the tax increase and insurance. My taxes went from 2,688, up 3,600+. I won't consider selling. I have a 2.8% interest rate. Where would I go?
Our taxes jumped about $1300 in Texas. Luckily we bought a house under the amount they thought we “could afford”, and haven’t had to really cut back.
They’ve been trying hard to buy our home here in Pinellas County, FL,
Truth is we couldn’t rent a one bedroom apt for less than our monthly mortgage payment.
I see what just occurred in California and Hawaii, and shudder at the thought that the same could happen here. There’s a lot of evil out there, stay strong folks!
Oh it’s happening! Florida is becoming New York 2.0. It’s the place to be (Entertainment) , it’s expensive… maybe not law-wise yet.😓 My family is trying to get out now.
Just got back from Miami. I don't drink but my friends spent $800 on 5 meals and 8 coctails. My husband and I looked at each other and felt grateful we only popped into this restaurant after eating a quick bite already elsewhere. We live in orange county, CA and it's EXPENSIVE here but not $800 for 5 ppl to eat a meal and have a drink. Just absurd.
Plus, rental communities are usually composed of lower salaried folks with very little sense of good stewardship and maintenance. The home is trashed by them and their dogs, etc. I wouldn't want to be a landlord and have 10s of thousands of repairs. Plus if they can't pay rent they have to get the law to evict them after trashing the place. So... buy a home in the most expensive community you can to retain value.
@@nicolina3330 Did your friends post the expensive meals on Instagram or any social media>?? lol
@nicolina3330 lived in FL all my life and never been to any restaurant that charges over $100 for a meal. Idk wtf you and your friends did but that doesn't sound right.
Me and my wife decided to purchase a home in August of 2020, and I am so glad we did! The lady we bought the property from was in her late 80s, she was just ready to move on to a retirement community, plus our property is fairly large and it was just way too much for her to keep up with at her advanced age. We were very fortunate, not only was interest rates pretty much rock bottom, but this was during the height of the pandemic so there really wasn't anyone to buy the house to begin with (outside of investor firms). The best part was that the previous owner was willing to take off 15K, she knew we were first time buyers and her only requirement was that we took care of the property, and loved it the way she did. Things have definitely changed in just a couple years.
I'm sure that was hard for her to give up the house when she said to love it like she did.
Those are the best kind of deals. I lived in a home that was lived by the previous owners and us. Ppl always said what a happy home it felt like. How good they felt in my home. It made me feel happy. We’ll get there again. People need to ban together and not believe the main stream media, as well as showing us how much we are different because we are way more alike. I guess you can’t blame them for trying huh?
Fun fact, if you pay taxes on it, you don't own it.
Wow say story as my wife and I. 2% interest rate and on our home
@@di4085 it was! The day after we moved in her son brought her back one last time. The biggest reason why she sold us the house is because she had an accident, and couldn't walk up the stairs, so the sale was definitely difficult for her.
This upsets me to no end. My son is 24 and has a good job as an engineer in Savannah and he cannot afford a home. He was renting from homes 2 rent and it was $2,000. a month. The company wanted to go up to $2,200 and he decided to move. He found a private owner who is renting to him for $1,900 which is lower right now in the area.
The problem is that being an owner and renting out properties is also expensive. Imagine renting out your own home and paying not only any loan, but also the regularly increasing taxes!
You are right. Only big companies can follow that model since they have the money to lobby in the congress for less taxes, or they have the lawyers to come out clean without paying much taxes or they can creat their own "non profit charity" organization to "donate" to it and hence pay less taxes. Like man, with money you can corrupt the whole system on your favor.
For what it’s worth, I’d give your son a house if I had one to spare
The good news he's only 24 and if he can afford 2k in rent he can afford a mortgage. I just bought with 3% down like 6 months ago and my mortgage is 1700 a month... first house and I'm 35 lol... he'll be fine
@@wormhole-r3l Good for him! Always an exception that proves the rule.
I am capitalist in heart. However, I believe corporations should not be allowed to do this. There should be a limit what percent of the assets/houses they can buy in a a given area.
I agree. This is where the concept of monopolies comes into play. When a corporation owns a huge percentage of the housing, they can artificially raise the prices. That's not capitalism.
So am I but they are a huge reason why homes are expensive. Homes should be bought for people to own but to have the prices jacked up and pay rent.
Why not they paid the government to look the other way. How much you or anyone else put in their bank account?
Thanks for the TRUTH!
Capitalism can be used for good or ill. It is not a virtue in and of itself. Megacorps could be kneecapped simply by having the government regulate them into oblivion but unfortunately the US government is essentially owned by these megacorps, bankers, and of course foreign governments. So here we are with capitalism run amok destroying the lives of millions.
My grandfather got a house as a wedding present in 1933 for $3,000. I live on the same street, 3 blocks down, and rent half a house (a duplex) and pay more than $2,000 per month. It's not just investors that drive the price up, it is the currency devaluing every year so the government can spend more than can afford. My accountant told me I have enough money to live comfortably the rest of my life, provided I die by next Tuesday.
Until next Tuesday is better than nothing I guess...
Eat some organic french vanilla pudding before you die. Thank me later ☺️
$3000 is $70,544.08 in 2023 dollars according to the inflation calculator
@@jimcrawford3185 When my grandfather passed, I sold my 1/3 of the property to my sister for $60,000 in about 2004. She leased it for 10 years, then tore it down and built a new one, and sold it for 1.3 million.
@@herelieskittythomas3726 You sound like 'Let them eat cake'.
My hippy parents were telling me in the early 1970's to never trust the government. And don't let the man hold me down.
Most of those hippies are today’s leftist authoritarians.
Its not the government but the corporations
I think a lot of the 70s hippies are now big government loving liberals.
Your parents would be conservative today
@@Chowda41Then you've made the right decision.
I've been screaming this for months. There should be a limit on the number of properties anyone can own! We're all sitting broke around the Monopoly board, watching the 2 remaining players hand money back and forth. What did anyone expect from corporations and Wall Street crooks snatching up homes that working-class Americans lost?? This should never have been allowed to happen!
Why? This is a free country and capitalism working at its best.
u must be trolling or a shill@@nicolathonathan770
@@nicolathonathan770 it's not capitalism anymore. Average household can't afford a new car or new house lmao. Big corporations and big farma rule over you
So you’re advocating for more government bureaucracy. What could go wrong?!
Remember the tax breaks for billionaires? Voilà!
My husband and I are downsizing and purchasing a house in rural Indiana for $112,000. Its in spectacular shape and I'm thrilled.🙌
1. Its in Indiana. Nope.
2. I’ve seen houses for that price and none of them are in good shape.
3. Good for you.
@@thelasttaarakianI tried looking for a house a year or two ago here in TN for around 200,000 and every one in that range were straight up garbage. I was honestly shocked that I would have to go into the 280k and up range for decent home.
And this is a smaller city too I can't imagine what people are paying in larger more demanding areas.
My husband walks to two jobs and works 70+ hours a week to pay for $413 for our two sons. Rent is $1200 everywhere within a hour, requires 3x income, good credit. The country is falling apart
That’s cheap rent compared to what’s here in FL
Who did you vote for?
No wonder look at the scum running the country
@@kaydublin5164 Who did you vote for?
@@kaydublin5164 that actually has very little to do with it.. if you think that the Cheeto in chief or that Coffin dodger puppet with a hand up his ass Biden, or even tho technically the 2nd black president we ever had, John Hanson was called the first president of the United States before the Federal Constitution created the role during its ratification in 1789), who did nothing for his own culture and home city of Chicago, are actually running things in this country let alone the world, you're dreaming while asleep at the wheel thinking about the distractions of the world..
There are bigger older, and yet hardly ever spoken old names of old money that have generational wealth beyond most people recollections pulling the strings in this world to careen us down a dangerous path that I have a hard time myself wondering if prophesy in the bible was written to explain the future or there are just people who read that and are on a lifes mission to make it come true..
people only hear about the Rockefellers, the JP Morgans, Warburgs, Rothchilds and those are just popular because they own banks that own banks.. but those banks have clients often unmentionables that keep THEIR money in those banks.. there are higher tiers and without doubt, even more corruption. We are in the era of what people mistakenly identify as the end of the world by calling it an Apocalypse, which really means "A lifting of the veil". or to be made known.
Why do you think all of this politics, food and water poisning, satanic worship, inter-dimensional beings/demons, the coming after your children and sex trafficiking is all of a sudden being seen and coming to lihgt? You think the good hearted people like Zuckerberg or Tik-Tok are here to help you see the evils in the world?
You should look into the Medici family, the Openhiemers, the MetlersLi, the Moreira Salles, the Montagu's, Bordier's Hochstetter's, the Coutts.. Botin's to start.. theres your OLDEST money being used to pay for all the stuff you thin Trump was gonna fix.. All a 2020 election would have done is stalled the inevitable possibly 4 more years..
Remember, Our country and many others have plenty of experience in taking out our own leaders if they become to uncontrollable.. JFK, Lincoln, Saddam, Quadfi... several french, English, and German or Italian leaders been taken out too just in the last couple to 600 years. Chinese dynasties.. I mean i'm not bashing your comment as much as trying to tear the rest of the wrapping off the box of Political and historical LEGOS your looking at.
I like this guy.
In real estate, people are so focused on maximizing profit (not caring who they sell or assign deals to as long as they pay the most money) that they forget what happens afterwards.....this is a great picture of what happens afterward.
And by doing so, IMuHO, they contribute significantly to the very destruction of the society and system that gave them the opportunities that they have and have had. ... Insane.
You are just describing American capitalism. The only way to get any corporation to "act right" is to regulate them.
@@erude13 there is an overwhelming amount of regulation and it's still not working. Even more regulation won't help or stop capitalism. There will always be a way around something.
My advice to anyone who is renting. Stop waiting for the dream home to be in your price range, and buy what is in your price range. Then slowly fix it up by doing the work yourself (yes learn new skills). This will both make your house nicer to live in and increase your equity. Finally, sell your current home and take that equity and use it to buy a home with the bones of your dream home, and fix that up to be the house of your dreams.
This process takes years, you may need to do it more than twice to get to where you want, and it requires a lot of elbow grease, but it works.
True, but many areas, even "cheaper" ones no longer have such homes at all.
Any deal that is too good to be true is almost certainly not a deal!
When the starting price for a home is $500K, at least in my area, I can't even afford the down payment, let alone anything else. That's what people don't realize. The homes that are for sale are too expensive for most of us. Also, even after you pay off the home, you still have to pay property tax, so you're still paying a fee to live on your own land. Sounds like renting still. So you've paid all this money to "own" your home, but you really never own the land it sits on.
@@dreamscape405 That's totally fair. I know I couldn't afford that either.
The market that I'm in is similar. The only houses that are under 500k are old, small and need LOTS of work.
Unfortunately I'd recommend moving out of state. :(
I am a contrarian on this issue. It all comes down to the deal. If a person can rent, and it saves them $500 a month, and then they have the discipline to actually invest that money, they will be way ahead in 5 or 10 years. It's a SAVINGS issue, NOT an ownership issue. But for most people, ownership forces saving.
@@JosephHurtsellers That's rarely the case unless you're living with mom and dad. But yeah, if you can save a significant amount of money renting then that's a good way to go
Yes, small town midwest here. Beautiful homes, bungalows, historic architecture on tree laden streets, nice people, pets, lawns and gardens. Housing from $150k to $275k for singles, couples, families. You have to be willing to give up destination, trendy areas for simple Americana.
Can find homes in dying towns for like 20k if you want to be real simple
Right? My fly over state cost me 43k for a house outright with a new roof furnace and foundation ( basement). Leave the coast and stop letting the gov spend money. It'll help
Ok but do you have jobs that can support a family or is your community one of low end employers and high priced stores. There’s no savings when you have to drive 50 miles for a job or shopping that’s not Dollar General.
Yea I used to be able to live like a beach bum in Florida but they’re making it all uppity now.
@@michellem3879yep. Places where houses are cheaper usually have lower
Wages to match
This is also happening in Australia. Home buyers are selling up because they can’t afford their mortgages & the bills are insanely expensive. Which means they have to rent, but there’s a severe rental shortage here & rental prices are outrageous, creating homelessness.
Now is not the tie to get into debt. It’s sheer madness to do that.
Indeed it’s the road to “you will own nothing and be happy”. Are you feeling it yet?
I thought homelessness was only in America.
@@valleyglenify It’s a worldwide agenda. All western nations are starting to be affected.
@@xx-vw9ep usual 'British 'snobby behaviour so popuplar these days.
Good thing y’all gave up the means to resist.
Not the "happiness" part, lol.
As a land surveyor, I can confirm this is true. The majority of homes that we work on are rentals. The ones that can be owned are a million or more for starting prices.
Same here. Topo's for ADUs for rentals, Topos for new rental builds, ALTAs for big corporation's acquisition, Construction Staking etc.
$500k is the average STARTING price for a house in Las Vegas. And that $500k will get you a decent looking house in a mostly decent area on a small piece of land that has a big enough backyard to just be able to turn around in and that's it.
@@Superman-xr1oh I remember when my uncle bought 6 houses in Vegas for around $60k each at auction back during the last crash. He cleaned house on those properties!
Guys, I built my own 2800sqft home in 2021 at 29 years old. I even did it with a 20% down payment. It's not all doom and gloom
@@thedude5040 🤣
Yep! You nailed it! That's exactly what is on here in Central Florida. The amount of apartment complexes being built here in my area is insane! It seems like every few miles, they are building huge complexes. And they are super expensive to rent.
And there are literally NO affordable houses for sale either. Seems all hope is lost at this point.
Here in Bradenton Fl, they be like 1 bed 1 bath 1000sq ft, 200k....
Or you could rent something similar for 2k a month 😢
@SunAndMirror That's what it is here, too. Ridiculous!
That's what I'm seeing here in Fort Lauderdale too. An unbelievable number of apartments going up in big batches with astonishing rents. I'm starting to realize that I've been very lucky to purchase my home outright and feel I'd better hunker down and never think about moving again.
@kirnpu lucky you! I'm so jealous!
We had a house lined up to be built on our vacant land in 2021, but that lousy virus spooked us out of the deal.
Now, the same house is 40% higher to build. Talk about regrets!
Florida is just ridiculous now.
@@borg386 I'm so sorry to hear that. My mom passed and left me enough to get into a house just as Covid was hitting. Bittersweet to be sure but when I look around now I'm thankful for the timing. I wish you luck for sure!
I recently moved to WA state from Louisiana. I had been doing research on the rental market in and around Tacoma for several years, and I became alarmed at the number of rental homes owned by companies. The rents were jacked up and the deposits, pet rent and other fees were so exhorbitant I was in despair. Fortunately, I was able to purchase a small manufactured home in excellent shape. While I don’t own the land, I do own the house, and my mortgage and lot rent are about $800 cheaper than most brick and mortar homes for rent in the area. This was the best move I could make in my tax bracket and it was not a perfect choice (I would prefer to own the land). However, given what is going on in the housing/rental market right now, I consider myself very fortunate. Excellent video, thanks for making it! Subscribed.
I am planning to do the same. Seems like buying a manufactured home + paying the lot rent is cheaper than renting an apartment or a house.
Moving from Louisiana to Washington... geeze. One thing about Louisiana is that you have a reasonable chance of owning a brick house with decent square footage and a little land. In western Washington, there's almost no shot at this.
Yet you’ll have dummies saying “they don’t own that many overall”. Wellyeah, they don’t in Bonneysville, Louisiana where there’s little profit motive, but in hotter markets they will own as much as half of all housing.
Manu home communities are jacking up rents and fees every year so dont get too comfortable
The problem is that the land lease person can jack up the land fee at anytime!!
In my town the restaurants aren't open for lunch anymore because of staffing issues because even though they've built over 500 new units in town, they are super elitist scum bag housing that require 6 figure incomes to even get into at all. It's class war. They want us to serve them but they don't want us to live near them. It's infuriating 😡
Thank your own People. Made you believe you were special! LMAO
It's a top down communist revolution.
@@robertchandler3295You should probably wear a helmet at all times. 🤔
@@robertchandler3295 Yeah keep laughing about how funny it is until we're all in concentration camps because we were conditioned not to fight for better treatment and conditions for ourselves.
If society wants the blood, sweat and tears of its citizens, it better provide something in return. The societal contract goes BOTH WAYS. We are literally more barbaric and savage right now than any native peoples ever were. LOL
@@robertchandler3295well if y’all would stop invading our states after you ruined yours they would have no reason to be putting these houses and apartments up anywhere they can fit em. In my 29 years I’ve never seen a New York, New Jersey, California, Washington, or Oregon license plate in my little town and now I see them every day. That’s not “our people’s” fault, I mean I can understand why someone would sell their little bit of land when these companies are offering you money money than they’ve ever seen at one time in their life. But it’s not their fault all these transplants are coming down here creating the demand for it while also causing everyone’s rent to skyrocket. We didn’t ask for or want all these motherfuckers moving down here fucking up our home, but we’re the ones who have to deal with the consequences of all these transplants. But in 5-10 years when they fuck up our states they’ll be packing their bags fleeing the mess they helped make while we’ll still be here having to deal with all these foreclosed and rent homes that nobody wants or can afford. So don’t sit there and act like most of us wanted or asked for this bullshit because we didn’t and we can’t control what other people do with their property. All I can do is hold onto what little bit of land I got and do the best I can because this is my home, it always has been and it always will be and that means a lot to me which is something these transplants can never understand
My husband and I had already decided to sell our house in San Antonio right before he was laid off. We purchased 1 acre of land, but couldn’t build because of the crazy material hikes. We’ve been in a rental an hour away from San Antonio for two years. Our rent is $350 more than our mortgage payment. We’re stuck paying someone else’s mortgage for them. The owner is a realtor and invested in communities of duplexes that have been being built for the last two years. The work is shoddy, at best. My husband was out of work for a year and a half. I don’t work because of medical issues. Yes, I’ve been praying for the housing market to crash, so that we can either build or buy with a reasonable rate for a mortgage. This house is suppose to be our forever home. We’ve been offered twice of what we paid for our land. We’re holding off until something gives. God help all of us with this greedy world that we live in.
There's not going to be a crash. I'm a mortgage loan officer. The previous crash was due to loose and non-existent mortgage lending regulations and subprime credit offerings which no longer exist. The best that will happen is small to moderate decreases in values and pricing and sellers helping with closing costs to the tune of a couple thousand dollars. If you still have the land, perhaps look into a mobile/manufactured home such as a double wide. You may need to first go through the financing of the mobile home makers but you can immediately refi to a Fannie/FHA loan with lower interest.
I'm not going to dispute the bank employee, but I will say that a lot of people are building "tiny homes" or partially prefab ("container" homes, eg) starter houses on their land to escape rent payments. They still cost, but if you do your research and think outside the box, you can literally build a _starter_ home in the traditional sense (one that becomes the core of a larger house over time.) It might protect you to some degree against predatory practices. You might end up learning a little about architecture and a lot about contracting in the process of your research....
@@markdavidson1049fuck home loans
No disrespect but are you contributing anything to help you and your husband get out of this situation, or is he flipping the bill for everything?
@@markdavidson1049
Are you saying the real estate market is not prime for correction? Real estate has blown itself up too fast in short period of time that it's ridiculous.
$120,000 family home from 1960's are now selling for $2 million dollars. Majority of the people back then were able to afford this home easily. Now? They can't even afford this home today. It's a ridiculous system.
The wages aren't keeping up with the home prices as almost all of the middle class are priced out. Eventually, the middle class will stop looking. The demand within them has already weakened. Home ownership decreases with every generation. This is a troubling trend for the future generations.
Meanwhile the corporations intentionally keeps the inventory low and snatching up almost 90% of the real estate whenever they go on sale to rent to the middle class.
It's almost as if the system was intentionally engineered only for the wealthy elites, not for everyone.
In the end, it is the top 5% that will control 99% of the emerging real estate market within 20-30 years if this keeps up.
This type of system is completely unsustainable.
Something has to give. Otherwise, we are on set course for a violent takeover of a new system.
Just like what happened in the French Revoluton.
I've seen this coming for years. I watched banks (like Blackrock) buy up entire subdivisions, and then rent them out -- forever. It's the new Landed Nobility. The reason is because they can't make money in commercial anymore. Renting is a losing financial proposition and it will destroy the economy, since people will be using more and more and more of their income for rent, instead of spending it on the market.
I’m a helicopter pilot and cross cross my state daily. I’ve been losing my mind bc all I see are new apartment buildings, McMansions or 55plus homes. Thank you for posting this video. I feel less crazy now!
I live in North Dallas area, and I did contract assignment for Invitation Homes as a Treasury Analyst for about 4 months. It was insane how much money we wired out each week purchasing BTR (Build to rent homes) I knew that this was not right.
I'm currently in that area and scared out of my mind for what will happen at the end of our lease in May. Our landlord has been incredibly nice and we pay $1,900 a month for our 3 bedroom house in a good community. I noticed a new rental house on our street the other day and looked up how much they're wanting a month. $2,500!! My husband lost his job a few months ago and has to travel to Austin M-F for work while I'm here with our 2 kids. I have no family or friends here, I do it all alone. I can't sleep at night knowing in May we will be scrambling to find a place on one income. We have a couple of pets too so an apartment will not work and 2 bedrooms are already a median average of $1,700/month. It scares me knowing we will most likely never own a home because our savings have been depleted. And like I said, our family lives 4 hours away. I've been in a funk for awhile and it seems like a dead end.
Research Rosa Koire
Just bought my first home from a divorce sale and added 30 minutes to my commute to work but owning is 100% worth it I like to just see my house when I go home and I do most of the repairs myself as well
In 2008 houses in my neighborhood were 20k-150k. 6 months ago a house went up for sale and sold same week at 400k. This was a rental style property with living space for 3.
Same thing is happening here in Kentucky! Prices around Lexington, even out in the country, are crazy. There are huge luxury homes, bought by people retiring here from up north, and many new luxury apartments and townhomes for rent.
I believe this is why so many children are still living with their parents -- they cannot find any affordable starter homes. Cheryl Wagner
Well duh, 😂😂 what do you think it was?
Yeah…. No shi- 😅
Did you sign your YT comment? Haha
Yes, exactly this!!
Its been happening in Greensboro, NC for the last 8 years. Any stitch of land available they are building apartments and rental home communities that have built apartments in addition to the build to rent houses that were currently on the property. It's insanity. I was glad I listened to my real-estate agent and ended up getting something when rental rates soared above what most people could afford. But sad I didn't know enough to get a home when the market was affordable in 2015. In 2022 when I stated hunting for affordable homes, those would get so many offers, I couldn't even compete. One home had 35 offers on it. It was insanity. As a single person, I couldn't compete. Thankfully I had a friend selling her place this year and gave me an incredible price and I got a great fixed interest rate from my credit union (5.6) especially when they Fed raised rates around 7 to 8%. Right now unless you make six figures you can barely afford anything especially since investors invade buying up apartments and raising rents.
Happening in Jacksonville FL as well. I’ve seen it all over the south
My brother in law in Massachusetts makes real good money and he is bid out so fast
My wife was real estate agent, and quit when her customer, who was a local firefighter, was denied a home for one of those cash offers. Her agency allowed it to happen over her
Capitalism at its finest.
Thanks for watching and sharing your story here on this channel
I hope that home gets squatted in and turned into a moneypit in order to fix it. If that happened near us I'd drop a hint to my old homeless friends that some foreigner or investor who will never visit bought the place.
This is the solution. People should squat in the all the homes owned by these large firms.
Do not pay them rent.
@@rokko_fable squatters need to learn from this group in Oakland, CA. Four mothers took their kids and occupied an empty building on Magnolia Street in Oakland, CA that had been vacant for years and owned by Wedgewood Homes, a real estate giant. They won that fight when Wedgewood sold that property to a land trust. THIS is what needs to happen all over this country. That story is here..ua-cam.com/video/A_gvQxePRUE/v-deo.html
I built houses for years. I'm now dedicating my time and expertise to building my children their homes. We can build a 2400 square foot log cabin for under 40k, not including the $750 per acre for land.
WHERE
LOL Haven't seen $750/acre anywhere in the country since around 2010. Where are you talking about?
@@smushbrain South western Virginia.
@utubeskreename9516 Sw Virginia. We divided my grandparents estate, and I ended up with a 186, a 165, and a 38 acre patch. It cost me $284,500, so that is actually $731.36 per acre. The return will be in the massive timber.
@@billywalker9223 Definitely a uniquely valuable gift your grandparents left you. I would parcel a few small plots off for for family and then proceed to become a multi-millionaire selling off the rest at a current fair market value (very likely much more than $731/acre now) plus a fair profit on each on-site cabin build. Good luck.
Yep personally, I think there should be a limit on properties you can own because people are trying to monopolize real estate. And the channels telling people to rent instead of buy are the people buying the homes to rent them out
Just ban rent altogether
Why? This is a free country and free market.
@@nicolathonathan770
I believe in liberty, not freedom
@@bruhbruh-us6gl then Europe would better suit you. This is the land of freedom.
@@nicolathonathan770
You don’t know the Founding Fathers well, then. They drew a distinction between freedom and liberty, and chose liberty over freedom. In Europe now they have freedom but very little liberty. Here were have some freedom and a lot of liberty.
Sadly, way too many people have bought into the lie that renting is better than owning. I just had this conversation with two young people at work. They were both totally convinced that it is always better to rent than buy. The fact that each of their 1000 sq. ft. apartments cost more than twice per month what the monthly mortgage is on my 3000 sq. ft. home is. They argued "Of course it is cheaper, you bought 20 years ago..."
Yes, that is the point. My mortgage is the same now as it was 20 years ago. Their current $2000 per month rent will be $4000 per month in 20 years. A $2000 mortgage payment today will still be $2000 in 20 years.
Buying is better maybe a little less as of now though
You mortgage payment may not stay the same . . . Anything can happen?
@chiplangowski32984 I had young guys at work also telling me the its better to rent BS about 10 years ago. (They also said getting married is financially stupid. But I digress)
Its like as inflation goes up and rent goes up your mortgage stays the same and gets paid off…
But anyway, I explained to them how my rental property performed and they still weren’t convinced.
Guess they want to learn the hard way
I’ve never heard it’s better it’s just set up so many can’t even try to buy
Home insurance and property taxes are creeping up and this Does affect your mortgage(s)
Breath of fresh air. I am in my mid 20s, my wife now 22. We've been married now less than a year and are looking to purchase our first home next. Things are crazy, but nothing is more crazy than throwing money away renting. I am subscribed. Your video was straight to the point. Excellent content.
Good for you that you realize it at such a young age. Im 46 now and have thrown away soooo much money renting. I now realize it and im boycotting ever renting again.
I live in a beautiful subdivision in the Midwest and we purposely amended our CC&R’s to a very minimal percentage of dwellings allowed to be rented out at any given time. The big corporations have no interest in buying here. We are thrilled by that.
This is the only way to stop it. Passing laws forcing them to liquidate would work also.
@@erude13 the way I see it big and local government are so involved in making money on it anymore that I have no faith in laws truly being passed and enforced. We have to do it it at the community level. Unfortunately many neighborhoods are already so heavily entrenched with rentals that they can’t get a quorum together to make the change. But I wish more homeowners and neighborhoods would get smart and do it while they still can!
When you move you’ll be forced to sell.
@@maplenook not really. We are not at our maximum of allowed rental units now but it still deters the companies wanting to monopolize the majority of a neighborhood. Truth be told though we are not a rental type neighborhood and I would rather sell to keep what is part of the amazing here for all that remain.
I bought a really nice turnkey 3 bed / 2 bath home around 2100 sq ft for $193,000 last year. I had to leave Dallas, TX and move to the Midwest to find such a deal.
My mom is a 63 year old retiree real estate agent who has MS with no retirement fund saved up (because she blew her 401k helping me as i grew up). She has stayed away from the real estate market for a few years now in order to focus on her personal home business. Recently, my 30 year old sister decided she's ready to buy a house here in Colorado. Her husband's neighbor recently passed away by an accidental death on vacation. They decided they wanted to buy that house since it was in the same neighborhood (just down the street). My mom worked hard on the contract for months. It came down to a bid war last week. Without even offering a counter bid they sold the house off to a rich investor so he can rent it out. To put it lightly my sister and her husband were devastated, and so was my mother. She was exhausted from working hard on the contract day and night even with her multiple sclerosis and really needed the money as she doesn't have a retirement fund. They never even let them counter offer more than once. This was in the Denver, Colorado area.
That is damn criminal.
I’m a Denver Metro agent. I’m really sorry to hear this. I work with so many first time buyers and have encountered this many times. It’s hard. Especially in certain areas around Denver. It used to be people would treat others like people. Now it feels like it’s all about the money 😞
@vsand9798 - It is tough but they will keep on looking. She never quits.
That is so sad. There needs to be regulations on these idiots! This is destroying people's will's to live. We are not dumbing down to their selfish ideals... I'm surprised the sellers didn't think twice about who was buying their home. I'm very sorry, I hope your sister and her husband find a home they love soon.
@@vsand9798I believe it is all about the MONEY 💰. and it's sickening 😮 the greed YIKES
I'm grateful I was able to buy my little 780 sq ft house in 2009 thanks to a small inheritance. Fixed rate mortgage, less than you can find now, my payment doesn't vary by more than 50 bucks each year so I don't get big nasty surprises. I live in an older city neighborhood (built before 1950) that has a lot of smaller homes that are more affordable for lower middle class people. There are times when I wish I had something larger but I have all the space I really need and it's a good little house.
In the past 5-10 years my city has built at least 10 new loft complexes and rent has been skyrocketing tremendously. Just a couple years ago you could rent a 3 bedroom for $1200-$1800/mo but now they’re $2500-$4000/mo . It’s absolutely insane. I’m glad I inherited the house and land I live in because I’d plan on getting The hell away from here if otherwise.
In 2005 my home costed 65k in Houston, the neighborhood was not very good and not very bad . Few months ago many people started selling their homes for 250-300k and went to cheap city apartments given by the builder of moved out of the country . The renovated those homes(which they did a very good job though) and made that part of suburbs like a luxury modern home complex. They offered me 350k cash but I refused cuz I am 53, East European immigrant ,wife died and I got a 19 year old daughter who is not that good at studies so I want her to have a home when I am not around.
It's insanity. As the supply goes up, costs should go down.
But the market is clearly being manipulated.
The govt certainly messes up a lot, but in this scenario there needs to be action.
The government is OWNED by the same Black Rock, Black Stone, etc that own everything else.
30 years ago when I moved to middle Tennessee homes were very affordable. Now it's one of the most expensive. Tons of apartments and townhoses going up. The townhouses are the most affordable starting at around 300,000. Not a lot for your money. We need starter homes like the 900-1200 square foot starter homes that went up after WWII. In the suburbs of Nashville hardly anything for less than $400,000.
I feel like the best path forward is better rent protections like they have in Germany as well as limits on corporate ownership of homes. I do think that SFH rentals make sense for many people but that shouldn't come at the expense of able folks being able to buy a home. One thing you said that really stuck with me was how you used your money from your first house to put into your second. That was my plan too but the second house that would have been 50-100k more is now 200-300k more than my current home and even if I put every dollar of "profit" into the new home I'd still be looking at a monthly payment over double what I pay now which wouldn't be prudent given the state of my industry.
Funny thing is that I bet there's government money to build affordable homes but it probably goes to large companies who understand the system and who build 1 affordable home for every 20 they profit bigly off.
I am in a similar position. I want to cash out pay high interest debt and buy something else but shit is so high. Like 600k for 1400 sq Ft still needs a little work in a relatively safe area. If it were 2009 again
You want to know where all that government money for healthcare, affordable housing, education, etcs goes? Vietnam. Iraq. Afghanistan. Ukraine. It goes to stupid senseless wars and our over bloated military budget.
I live in a rural community of 400 people. I was SHOCKED when looking at rental prices! $2400 for a double wide mobile home! Fortunately, I was given an acre+ and with $50K was able to have a wonderful home in a park like setting. Monthly payments are under $200... that's $40 over the required amount so we're bringing down the principle...ON $200 PER MONTH! It's a shame what's going on.
You are 100% correct, sir, and I wish more Americans were aware of this. From where I sit, America's greatest legacy is the creation of a large middle class that served as the basis for all of our contributions to a better world. For the past 40 years, we've chipped away at that legacy and what you describe here shines a light on one of the primary reasons for our troubles. Thank you.
I 💯 agree. You destroy the middle class, you destroy America.
This same thing is happening here in Mesa, AZ. The east valley is being flooded with 4 story apartments. And any homes that are being build have no yards. Just side patios. Unless you can buy a house and yard for 800k. Those 800k properties were just 300k 10 years ago
Same thing here in worthless St. George utah. Absolutely nothing here but dirt and heat but homes are no less than 500k and they were 200k 10 years ago. The new homes being built are all worthless junk built with the cheapest materials possible but being sold for higher than ever.
I built my house in Madison, MS and moved in at the end of 2020. I originally built this house 452k. It is now worth 750k. This is terrifying.
boy i wish I had your fright
@@timsoom7027 You won't wish it come property tax time.
This is happening all over Huntsville, AL. Tons of new apartments and townhouses that people will never own. I own my house but is hardly what you would consider a “starter house” for my first home- I had to pay a fair amount for mine and it’s nice but a little bit for just me. But it was what I could build in my area. I was thinking about selling but I also feel like holding onto it might be best in the long run.
You should hold on… who knows where you’ll have to live after you’ve sold it?
You own yours. Stay put because you don’t know where you’ll end up or how much you’ll have to pay once it’s gone
THIS!!! Is happening all over Central Ohio! Coming to smaller communities such as Marysville, Ohio, Plain City, Ohio, just to name a few!!
Agreed it’s happening all over in New Jersey where I live apartments everywhere
All over Florida too.
I'm in Akron and thank god last I rented was in '97. $535 for a 1 bed.
50+ years experience here and I can say you are spot on with your understanding of this now Real Estate Phenomenon. One thing I can add as they the Black rocks etc. also can control prices of homes now with their monopolization!
I'm 55 and graduated 1986 most of my friends did not go to college yet most of my friends own our homes. Few of my friends went to college but there are no difference with my friends that did not go to college. 90's and 2000's we put 20k down and can get into a house with reasonable mortgage payments. Those days are long gone. We live in So. Cal. and now new owners need to make over 200k year plus to get into a house.
Thank you for this explanation! I have been wondering what the end game was here… I live in Philadelphia and there are “luxury” apartments popping up everywhere there is an empty lot. I couldn’t figure it out and the cost of rent and homes are ridiculous. It’s shameful. I’m so fortunate to have purchased my home fall 2020 which was overpriced then. The city reassessed and it’s up $85K in value increasing my taxes. Thank you again for this vid. I now understand I REALLY need to do whatever it takes to hold on to my home.
Yes, this has truly opened my eyes and I realize now that I need to stay put and hang on to what I have!
With an open border we gotta put these folks somewhere
Great video, it’s happening here in Australia, with very high land taxes, high home insurance, high state taxes, to push you out of your house to sell.. then ultimately rent..
I live in South Florida, another trend I see is the government getting in the rental business. They offer landlords big money to turn residential homes into "Sober living" homes, or "Half way" housing. Or section 8. The more a society decays, the more of these types of programs flourish. I own my home right next to a "Sober living " house, nothing sober about it. The police or fire rescue are there at least twice a week for years! I have seens fights, mental break downs. Also a high turnover rate. Any of the tenants that I got to know or are friendly with never last too long anyway. From what I hear , the government gives the landlord $600 per person, they put 2 people in bunk beds in each bedroom . So the house next to me has 6 unstable adult children at a time.
That is so infuriating! Your hard earned tax dollars at work paying for those who can’t or won’t do for themselves. Forced charity is BS, let real charities and churches deal with this not our government, not with OUR $$$. Section 8 really makes me sick especially. There’s people working so hard who can’t afford a house but some shit stain on society gets a free one at the taxpayer’s expense. In AZ with raising costs and a new flood of CA moving in some are advocating for more government assistance here. I guess they didn’t learn from their failed state of CA that it doesn’t work because who pays for all that free shit? They would have to raise property taxes and eventually causing the same problem they’re trying to solve.
Back in 2012 at the bottom of the market I bought a house in decent condition in a good neighborhood for under $20K. It was bank owned and had been sitting for a couple of years.I pulled the money from my 401K because I felt this was a once in a lifetime deal. I tried to get some of the people I worked with to do the same but not one person did. To me the best thing everyone can do is arm themselves with knowledge.
Sounds like you’re winning to me! Thanks for sharing your story here on this channel for others to see
20k where?
@@40mmmikemikehas to be in a ghetto somewhere…Detroit or maybe Illinois…West Virginia?
@@willnox1 a come up is a come up in this market
Raiden,
O….k?
So how does that add to this conversation? Sounds like all you’re doing is bragging.
Yep this is exactly thing is happening where I live !! Stuart Florida. Massive apartments are being built along with huge developments all for rent only !! And the rest that are for sale are unaffordable even for a Senior Engineer!! The middle class is being destroyed!! Dark times coming !!!
We live in central Texas, about 30 miles north of Austin. There’s a rental home development next to our residential development. Huge apartment complexes are being built in all the towns/cities within commuting distance to Austin. Also “apartment homes” retail developments and mini-home/2 unit condo developments. New & existing single family homes have doubled in cost & are out of reach for most first home buyers. But the building rate & scope/size of new apartment developments is truly astonishing.
The same here in AZ
Need to warehouse those H1Bs from India somewhere!
@@abark Biden has let in around 10 million people over the southern border in just 2 years... they have to live somewhere, some will buy, most will rent with tax payer subsidies... get that... you are paying their rent which lifts up the price of rent, you are paying for your own demise.
I live about 2.5 hours from Austin and I see a lot of 3 story buildings off of 183 in Leander. I don't know why they're building all of that when there are many SFRs sitting in the market for sale 60+ days
But but but the answer is to buy so you have something you own! Seems these video meant for the well off!
They are building apartments with NO parking.. they are shutting down the peasants.. turning off EVERYTHING, even water.. haven’t you noticed? It’s been happening for DECADES. That fact that it’s been the plan for maybe 50 years is disturbing..
It's been happening since 1913 when the 3rd central bank was started. One thing to consider is also the huge push for EVs for the plebs so we can't move very far in a timely fashion, the apartments with no parking is totally in line with the push for EVs and 15 minutes cities. Peak liberalism.
Parking is raysiss and white privilege
Really come into its own with the Democrats, WEF, UN, etc. Sociopathic Central planners who want to cut carbon footprints and want the world population shaved by 80%.
Before 2008, they were giving "no money down" loans out, and even letting people borrow more than the value of their homes, which helped bring about the housing crash. So that was 15 years ago, and the banks finally got those houses off their books. This commercial real estate investing taking up so much of a larger portion of the residential real estate market is what is causing housing prices to artificially inflate, by converting home sales to rentals. The potential damage is incalculable, but it is huge. The Government is going to have to put controls in place, or things are going to become very, very bleak for the consumer. And I don't mean pricing controls, which would make things worse; I mean commercial real estate investing should only be limited to a certain percentage of the individual housing market.
The centuries old jesuits agenda is now coming to fruition and it is going to be ugly, pure evil
Portland OR here, lots of old homes bought up in cash over the last 6yrs. Tons of new construction of apartments and multifamily homes. Awesome video, thank you!
Down here in south florida the cheapest new 3/2 home is a townhouse/condo starting at $380k. The new single family homes are 4-5bed/3bath and are starting at $540k with hoa, $760k for non hoa. Average household income here is $57k 😢
Solid analysis ! Many other VLOG channels pushing a RE Crash refuse to look at the supply side and corporate raiders creating a different dynamic tha the last downturn.
My wife and I were persistent in 2022… we kept trying and everything really found a home we really liked. Now it’s the Boston area so we all know that everyone who bought overpaid but it wasn’t as much as we had expected. We were able to lock in at the low 5’s for interest and got the area and school system we wanted. Don’t give up and be persistent!
You talk like you're out of the woods when really you just suscribed for 20 years of slavery.
interest rate is completely different now. That's not something you could get with just being persistent. area and school system maybe
Thanks Jerry for shining a light at the end of the…on not just a dark tunnel, but a huge dark cavern.
Starter homes are so rare in Metro Atlanta. My wife and I made an offer on a 1200 sq ft 1940s home sight unseen. It had over 5 offers in 2018 the same day it listed. We did get the home. Fast forward during Covid, the big investment companies are building entire subdivisions for rent here. Starting rent is about $2k. Tons of “luxury” apartments and rental neighborhoods going in
I built my house with my own two hands 57 years ago. Since I retired I have accumulated $70,000 in back property tax debt. Social Security is simply isn't enough to cover the bills.
THAT IS SO SAD----NO WAY TO WIN IT SEEMS!!
They have done everything to make it so you cant own anything in this country.. No disrespect, but it may be time to rent out a room or two or the house and use that money to help pay the property taxes each year and supplement a lesser expensive place for your self. A house isnt an asset unless its making you money,even if paid off or built with our hands. You and everyone else in these comments were sold a lie based upon a debt based monetary policy that works off of Negatives, not positives of banking. and it all started in With the ACT of 1871, furthered in 1909, 1913, 1928, 1933, 1954, 1964, 1968, 1984, 1995, 2001, 2008, 2016, 2023....
Sell the house and move to a State which has no property tax for the elderly. You would need to look it up, but I fairly certain that one of those States is Kansas.
The game is rigged
Reading that completely pisses me off and saddens me at the same time.
People are going to have to go with multigenerational extended-family homes (or "compounds"). Everyone in a family paying for their own place is ridiculous. Those days are over.
I've floated the idea and not a single family member is I interested
@@redraiderrider3289 That's unfortunate. The alternative is intentional communities with non-family members.
Americans love their independence. But economics might force the issue.
We might even see a revival of boarding houses run by spinsters.
I currently work for property development and management company which does extensive BTR (with major wall street backing) as well as large wholesale acquisitions of existing single family homes (also to be ultimately owned by big wall street funding, and even private investments by foreign nationals), and I can verify 100% of what you are saying as far as the monopolization and public disenfranchisement of first time home buyers, all to profit off of a shortage of a basic human need. I tried to ignore my own conscious on it for a long time, and all that has done is just completely blow out my cognitive dissonance and just push my daily anxiety through the roof. I am actively looking for other positions and hope to be out soon, but yeah, it's machine, and it's a big problem that will come home to roost, and the later it takes to see action on it, the worse off everyone in this country will be. It's truly terrifying.
I really appreciate your comment. It’s nice knowing there are still a few good people in the world that actually get it. Thank you! (I’m a homeless vet)
Thank you so much for sharing your story here with others here on this channel. Truly appreciate you taking the time to watch and comment and I’ll see you in the next video.
Thanks for watching and commenting
I live in New Jersey, we have had an explosion of apartment building construction. Even in the worst of neighborhoods, wealthy investors are constructing luxury high cost rentals units at ridiculously high prices.
Latin America is looking much better in retirement. I spent 6 months in Antigua Guatemala, a breath taking beautiful city in a very comfortable beautiful apartment for $300 per month. My 3 daily freshly prepared meals at exclusive restaurants cost me about $35 per day. 😊
How’s the weather?
Hows the gang violence? Lol. I have family in Brazil. Lived in Chile for a bit too. Would never want to live anywhere where iron bars over windows and doors and broken glass bottle lines walls are the norm.
In Cleveland OH there are very few post WW2 "GI Bill Bungalows" available in neighborhoods that are safe with decent schools. Those neighborhoods are owned by Section 8 landlords and have gone to hell. But those rental apartment buildings are going up fast in trendy neighborhoods closer to Progressive Field and Browns Stadium. Millennials are living there.
So who caused the neighborhoods to go to hell with high crime? The people that live there or the landlords😉
@@mph5896 The section 8 housing program. The Federal Govt sacrificed starter homes to low income rentals.
If you rent for awhile in the same place and the market goes up and they can't raise your rent, you start to feel like they want you to move so they can double the rent.
Thanks for saying what I’ve been thinking. All these “buying your home for cash” buyers that advertise are the tip of the sword for the commercial housing rentals. They promise you can stay in your home for 6 months, no repairs or showings and we’ll pay thousands more than selling the traditional way. This is the driving force in the rising rents and home prices. Don’t sell to these companies!
The other collateral damage is the rise in the homeless population when people can no longer afford to pay for a roof over their heads.
I am so glad you brought up investment and pension funds being reliant on these. I don't know if this is the case everywhere but, right now more and more rentals and flipped properties are staying on the market. I do HVAC repairs for a living and I have been doing tons of home inspections/repairs and the amount of financially stressed companies/landlords/owners are increasing at an alarming rate. If I had a pension I would genuinely inquire on what % of that is rental property especially luxury rental property.
I live in a nice suburb of St. Louis in a neighborhood of 50 year old houses. On my block, the 2 homes that went up for sale were bought for outrageous prices by commercial investors, fixed up and rented out for more than $2000/month. One house was resold in a package deal from one investor to another. They are totally squeezing out the individual home owner market by paying way above market value. I also see lots of empty new apartment buildings. I cannot figure out why they keep building them.
Here in naples florida a one bedroom 600 squarefoot apartment go for $2000
@@jibberjabber-fm6pb Do you think the owners are trying to recoup insurance costs, which I hear are outrageous in Florida? Either way, those are ridiculously priced.
@@alexstokowsky6360 insurance and property taxes are definitely to blame but a rush of people from other states is the big factor
Thanks for the good info and this is just another example of how our country is crumbling
Props to the UA-cam algorithm, glad I found this channel. Im gonna share some of this knowledge and look forward to more.
I live in San Diego, finally established in a good career with no debt and saving for a down payment for a house, yet as I look at the market for anything in my area, I realize that my chances are next to zero, any decently affordable place that goes up is under contract within 48 hours. For example, a 850 square foot 2 bed 1 bath single family home went up for 650k, now in San Diego that’s about as affordable as it gets, it was bought within 2 days
How Many ppl) Have this kind 💰💰💰💰💰🎓🎓) I think china has an over abundance of New apartments🤣🤣🤣🤣😤🎓🎓🎓) at least) they'll have apartments) for homeless or lazy ppl🎓🎓), that occur) no thing homeless 🎓🎓)
Maybe consider a bit outside of SD? An hour commute won’t be that bad. I did it for 3 years.
@@nicolathonathan770That won't drop prices much.
I moved out of SD a year ago To chattanooga. I think I heard a door shut behind me when I bought my house here. Prices have sky rocketed with interest here. Lots of people are fleeing to here. I don't know if you should stay(do you surf?).
However I don't know where to run for a good investment home anymore either.
Maybe Alaska
$650k for 850 sqft ??? Wow
I think I’m in the echo chamber because I’ve been saying the same thing on a bunch of real estate videos. I’m seeing this in Florida big time! Tons of rentals! No relief in sight.
This is definitely happening in Conyers, GA. They are selling overpriced new homes and/or building “for rent” communities.
Love the transition editing in this video... audio is flawless and seems like just the background is changing. Very original and creative!
Wow this is great information. I’m tired of giving away my money and currently pay $2250 for a 3bdrm condo in Miami from $1600 which I was previously paying. The rentals here are ridiculous and they have gone up so much. We had many people move from NY, NJ, CA and TX move here in droves buying everything up in cash and bringing their big sale ties here. However, our cost of living and salaries don’t compare to theirs and we can’t find an affordable home here. The are outrageous bidding wars and don’t make sense and I’m not falling into that rabbit hole. Unfortunately I’m not able to work remotely or I would have left Miami already, I do love my job and what I do and have been considering a bigger commute if it can get me into a decent home and mortgage. It’s been so depressing and discouraging at the same time how these organizations take advantage and price us hard working people out….I too would like to have that American dream 😞
$2250 is a great/cheap rental in Boston and San Diego 😢
@@Hermetic_ not when I went from paying $1600 to $2250 for the same place. I don’t live in Boston
Actually, the main reason that you see the increased housing costs in Florida is the insurance companies leaving and the remaining ones jacking up their premiums. Because of this, many home owners (including the newer ones from out of state) are selling and leaving Florida.
@@gretchenk.2516you are all getting a dose of capootalism... You wanted it, you got it,
Don’t forget about the amount of speculators driven the real estate bubble in south Florida. Certain areas like Wynwood are over 60 percent investors buying.
I noticed all the new apartments going up in and around the Los Angeles area.
I assumed the same thing, even though the American dream was never an option for me, I still have hopes for my daughter who has a college education.
But I know exactly what you're saying,
And if thoughts create Things, I'm thinking that they'll lose.
This man speaks truth. I live in north GA and can tell you all new construction is for apartment rentals. It's so sad to see. Todays young adults have NO chance. On top of that, there is a new trend to ship white collar jobs to Colombia and India. Wake up America.
Yes and it is intentional, planned out over 100 years ago.
This plan has many stages and angles.
Research: Naomi Wolf (the end of america, Rosa Koire, Yuri Bezmenov, Charlotte T. Iserbyt, Arthur R.Thompson former CEO of the JBS, author of To The Victor go The Myths and Monuments
Eye opening thank you. I live in a home great grandfather built in Portland Oregon and this is happening on a mass scale, tearing down the old homes like mine and putting these up in the lots heartbreaking to watch and even harder to watch no one living in them but rather on the streets at their front doors. Truly truly I say unto this generation the end is nigh at hand, behold the bridegroom cometh!
Thank you for this very informative video!!! I definitely would like to learn more about this!!! So many people have no idea and refuse to wake up and smell the coffee!! Thank you for all you do, and all your very informative videos!!!
The thing about the American dream? You have to be asleep to believe it!
George Carlin
you can only dream while you're asleep
I've been watching the home market in my area for last three years - it is INSANE. The cheaper side of the homes are either "bull dozer ready" or get snatched up so quick then back on market in a couple months with a crazy price (example: 500 sq ft home at 48k, bought and reposted at 115k) They get put up for rentals or the price is off the charts and all that was done was home was repaint. Thats it. Rinse repeat. So yep I see it.
Knoxville TN is seeing a ton of new apartment complexes being built. One huge one is being built in what was business. It’s surrounded by nothing but businesses with a US Cellular office (not a phone store), Fed Ex distribution center, and other small biz offices (not retail). How the hell did that get changed? It’s hugely out of place.
That is happening in Cincinnati, Ohio.
Middle class and low income are on the street.
Low income housing for seniors is limited here. To get in you can’t own a home. You need to be living on the street.
People are pushed out in low housing areas in Cincinnati; investors are buying up the low housing and in Cincinnati Ohio and reselling for over $322,000. And of course rents are very high.
I live midway between Chicago and Milwaukee, right on the state line. There are a number of towns around here that are deliberately putting up 55+ low-income apartment buildings. The typical limit on income is around $30K for a single, $40K for a couple. The reason the towns are doing that is to hit the requirement on the amount of low income housing the fed demands being in each locale. Seniors are less trouble than 20-somethings as the 20-somethings have kids, loud parties, drugs, shootings, don't take care of their units, couples fighting at 2AM. Seniors are quiet, well-behaved, the cops aren't being called out to break up fights or pick up bodies after drive by shootings. So, yeah, I can see why towns go with low-income buildings for seniors.
Vote better. Btw that's what Cincinnati always looked like
I’ve been watching this happen for the last 7 years in Atlanta. First Key is one of the biggest. Them and progress residential are building entire communities to rent. The have thousands of properties in Atlanta alone. And they are doubling down with the over priced market
We have not had anywhere near enough homes built in our area (Port Angeles, WA). I’d love to see some new capacity in our area! However, given global inflation, the definition of “affordable” is fluid. You can’t expect any 3 bedroom home under $250k (with most 3-400). These seem ridiculously cheap from a Californian perspective, but it is killing the existing locals. The only solutions I see are more high density housing builds or more high paying jobs.
I see dozens of duplexes and townhomes going up around me but I don't see them listed for sale publicly. I'm luckily my rent has only gone up $20/month over then last 5 years so it's still cheaper to rent versus the mortgage rate for what is available in my area.
I live in CT. I've been trying to buy a home for over a year. Unfortunately the market went completely haywire..... A simple raised ranch that went for 200k just a few years ago is currently going for 450k.
I've been waiting for things to come back to reality but sadly it seems I may be one of these unfortunate middle class Americans that is destined to rent for life. I simply cannot afford a home of my own in this current market.
So you pay someone elses mortgage by renting and earn no equity... although it doesn't really matter anymore becsuse this is exactly what Rosa Koire and others have been warning us about for years.
@@rjbradlowif he can’t afford a 450k home what other option does he have. Stop blaming renters. We are trying to buy but there’s nothing out there. I rent as well cause I can’t afford 450 k home… then to be hit with a higher insurance and higher taxes,,, I hope all of this blows up… houses are going up way too fast!
@@jocerod123smaller houses? Apartments? Condos? Mobile homes? Buy a lot and live in an RV? I’m sure there are properties below 450k in CT. People just don’t want to face the reality they can no longer afford the house they could a few years ago.