Are $Trillions Of New Loans About To Be Pumped Into The Housing Market?

Are $Trillions Of New Loans About To Be Pumped Into The Housing Market? | Melody Wright

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Күн бұрын

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A few days ago, an article appeared in the Financial Times revealing that "Last month, the government-sponsored mortgage finance agency Freddie Mac filed a proposal with its regulator, the Federal Housing Finance Agency, to enter into the secondary mortgage market, otherwise known as home equity loans"
The article's author, Meredith Whitney, claims that if approved, this "could begin to unleash almost $1tn into consumers’ wallets. By the autumn, it could be on its way to $2tn."
That would be a tremendous stimulus to the economy.
But is it a good idea?
Putting aside for a moment concerns of its potential inflationary impact, the Global Financial Crisis was a credit crisis triggered by bad housing loans. Would allowing the government-sponsored entities like Freddie Mac to unleash a flood of new loans risk repeating the sins of the past?
For answers, we're fortunate to turn to mortgage lending expert & housing analyst Melody Wright.
Melody, who was on the frontlines of the meltdown in mortgages during the GFC, is highly concerned this new lending scheme, if enacted, will end up disastrously.
(This interview was recorded on 5.7.24)
#housingmarket #homeequity #mortgageloans
0:00 - Less Home Equity Than Estimated
4:33 - Role of The GSEs
9:23 - Government Holds 85% Of Mortgages Now
13:16 - Does The Market Need More Home Equity Loans?
19:35 - What Are The Biggest Risks Here?
24:12 - Is This A Bad Idea?
34:48 - Is This Setting Up The Big Short 2.0?
41:09 - Melody's Latest Housing Market Update
_____________________________________________
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Пікірлер: 694

@adam.taggart Ай бұрын

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@caligulapontifex5759 Ай бұрын

Does there have to be a commercial every 5 minutes? SMH

@ttll7443 Ай бұрын

❤❤

@rubenolguin1664 Ай бұрын

Melody is one of the few HONEST people left in the Real Estate industry! Thanks for having her Adam!

@deborahcurtis1385 Ай бұрын

Why didn't she respond to his opening question? Instead she deflected into a context she could have gone to later.

@jackreston8188 Ай бұрын

I agree with everything this woman said. "Everyone is delusional about the value of their home right now."

@MichaelHarrington17 Ай бұрын

The value remains fairly stable, it’s the market price that’s delusional. Most people don’t know the difference.

@wmc9722 Ай бұрын

That was the line I was thinking of commenting on, and WILL, above.

@InnovativeSustainableSolutions Ай бұрын

Melody is the single most knowledgeable person in this space. She knows every corner of this space. She has seen this play out before, and she was right there in the thick of it. And she actually tours the country and puts her own eyes on these fomo overdevelopments. LISTEN TO HER!

@m3_melody Ай бұрын

Thank you so much!

@InnovativeSustainableSolutions Ай бұрын

@m3_melody And Melody, please add a channel membership option to your KZfaq channel, so we can compensate you for all the work you do educating us 😁

@Csharpflat5 Ай бұрын

She is great love her work and analysis.

@Steven_Will Ай бұрын

OK thanks!! So how many times are you going to say space? Thank goodness you used caps at the end that must mean you are serious 😃😃🙄

@InnovativeSustainableSolutions Ай бұрын

@@Steven_Will SPACE

@Spot4art Ай бұрын

Remember when you had to qualify for your mortgage and you couldn’t borrow more than you could PROVE you could afford? Those were the days!

@jaydeeare285 Ай бұрын

You clearly.havent bought any real estate the last 16 years. Keep renting junior.

@Anthony-dy5cq Ай бұрын

Remember the days when your paycheck would keep up with the rate of inflation, I don't.

@Anthony-dy5cq Ай бұрын

Shut up.

@harrymartin8019 Ай бұрын

@@jaydeeare285 so that's how long the games been played. new way of doing this is better than?

@sunyclime Ай бұрын

What are you talking about?? Do you live in a 20 year lag time warp?

@marciandjohn6320 Ай бұрын

Adam, please have Melody return and take more time on this.

@kennethrobinson7647 Ай бұрын

Me: Can things possibly get any worse? US Govt: Hold my beer!

@dabda8510 Ай бұрын

Hold my case of beer…

@Triedandtrue44 Ай бұрын

US Government employee, Elected, hired or appointed! 😂

@t4ngen7 Ай бұрын

Best not to ask the US gov’t that particular question.

@ricardcluter4765 Ай бұрын

Old saying: "When you delay the inevitable, the consequences will be worse."

@shanerogers9386 Ай бұрын

“There are NO risky loans like in 2008!” There is nothing more risky than a loan written on a $1.5MM home that was just $500K 2-3 years ago. Especially when the market is driven completely by speculation and greed.

@WFPBFORLIFE 16 күн бұрын

There are plenty of bad loans like 08' Most were misled about about the truth in 08' Market crashed! I took out a 5 year arm in 2001 and in 20 years it went up 2 times. 1st time was 1/4 % and 2nd time was 1/8%. every other years it adjusted down! Most who borrow money in in excess of conforming loans do arms... Ie the people with money. I strongly agree the market is driven by speculation and greed.

@robertbender73 Ай бұрын

Worked with Melody in the mortgage industry for over 20 yrs, and no body explains it better than her

@Love4puppies Ай бұрын

Thanks to both of you. That comment from Melody really hit home " some sellers are delusional about the value of their home"

@m3_melody Ай бұрын

Thank you so much for watching!

@FloridaManConstruction Ай бұрын

I am one of them. However, I’m fixin to git paiiiiid!

@Love4puppies Ай бұрын

@@njerseydavidMaybe some buyers are not on a budget or have more discretionary spending:)

@Love4puppies Ай бұрын

@@FloridaManConstructionAs long as buyers are willing to pay...

@rathelmmc3194 Ай бұрын

@@njerseydavid I think the idea is that they're delusional in the sense that pricing no longer matches fundamentals, but hey sometimes things become whacked. We'll see who's right. If we hit a stagflation era then any real estate being bought now will probably work out. If we go through a crash, well the opposite is true.

@bobchapman7655 Ай бұрын

If homeowners are delusional about the value of their home, what about the tax appraisers? Paying increased taxes on bogus value.

@brendabadih8855 Ай бұрын

Absolutely. And when devaluation happens, taxes will not be reassessed. Only some allowance of postponement or forfeiture. All planned.

@MrSteeDoo 25 күн бұрын

@@brendabadih8855you must be a renter

@MrSteeDoo 25 күн бұрын

You sound like a renter

@IDNeon357 24 күн бұрын

@MrSteeDoo I'm literally the best stock trader in the world and I rent. Owning a home right now is stupid. Bad investment

@3rett115 Ай бұрын

I got wrecked in the GFC with $100k of student debt. Took a long time to claw my way out of it and just paid it off with zero help. So where's my incentive for doing the right thing? This whole thing is an outrage.

@Thomas-wn7cl Ай бұрын

I think a good middle ground would be to make bankruptcy apply to student loans after a set period of time. Punishment, yet freedom.

@opiedrums6969 Ай бұрын

I've paid back my original loan amounts I borrowed, but still owe on pure interest accumulated from having them. Why should I have to pay back double? I technically paid back what I borrowed. Just because "that's how it works?" WELL 17 year old me didn't realized how it worked and no one told me. They just said good luck. Not that I think people should just be given a free ticket. But if you've paid back the orginal amount. I think you should be able to wipe the rest and interest rates on student loans shouldn't exceed more than 3%. Your incentive for "doing the right thing" should be that you know how much it sucked and shouldn't want other to have to go through that. Rather than. Being bitter and wanting people to suffer. Again, not thinking it should be a free ride. Just what I stated above.

@joeking6763 Ай бұрын

@@opiedrums6969 aaaand there it is! When you signed the loan papers they told you the interest rate. Did you sign at 3%? If you didn't then you pay what you signed for. BTW you paid back all the interest due on the last monthly payment and some of the principal. Double the payment and the principal goes down. Principal goes down less interest next month. Because that's how it works!

@helenachase5627 Ай бұрын

Gov't is intent on doubling down on all forms of stimulus. It's not fair

@markpitchford7375 22 күн бұрын

@@opiedrums6969 you should have to pay back the interest because that's what you agreed to pay the taxpayers.

@juliusmiami76 Ай бұрын

As hard is to listen to Melody's hard facts, people need to heed the warning signs. Thank you both Melody & Adam!

@dudewheresmyguitar21 Ай бұрын

I dont see a warning other than youre missing out for not going max leverage

@commissarcarr2463 Ай бұрын

Government does not see Risk! It just prints more money. 😂😂😂

@clintcowan9424 Ай бұрын

Yep. There is no risk office. The GAO AND CBO are just told shut up by politics

@davisutton1 Ай бұрын

I suspect they do but they are so short term they'd trade away the risk of a stubbed toe today against the risk of a fatal heart attack tomorrow.

@michaeljacobs4546 Ай бұрын

Government does not care.

@williamdaniel6143 Ай бұрын

@@michaeljacobs4546 They’ll be long gone when this goes belly up

@WilliamBTCWallace Ай бұрын

And then we assume all the risk with our own investments but when we do eat, the government gets a piece of the pie. What a sham.

@josiegraham2591 Ай бұрын

Stop using your house as ATM live below your means get out off debt .Debt free is freedom do not be slave

@eddieloujones2673 Ай бұрын

I'm a cranky dude and don't always leave the nicest comments. But when Melody talks, I listen. She does real research and has a deep knowledge of the industry. Always happy to hear her point of view 👍

@sk-gi5wy Ай бұрын

As a loan officer for over 30 years I can attest to what Melody says. When I started in the business in the late 1980's 90% of loans I originated were portfolio loans and only 10% were GSE loans. Back then they were called saleable due to the fact they were sold to the quasi governmental agencies.

@jimschroeder9815 Ай бұрын

Melody is one of your more insightful guests. Always a very interesting and on a subject that affects all of us.

@FreeSpeech4All Ай бұрын

Calling out this kind of BS is what took me from being a stellar Freddie Mac employee in 2005/6/7 to getting pushed out for not being a team player in March of 2008. I still feel vindicated. Lol! 🤣

@ginad96 Ай бұрын

It’s hard for me to be sympathetic to people who are in over their heads with their mortgages. How can new buyers be so ignorant of what they can comfortably afford??? Doesn’t anyone do simple math anymore? When I bought my very modest home in 1998, I “knew” what I could comfortably afford. I “qualified” for more house than I bought. Both the realtor and the lender tried to persuade me to buy bigger and better because I “qualified” for more. Very few people would be envious of my humble home. That’s okay. It’s bought and paid for. Trouble is, everyone thinks a simple home like their grandmothers isn’t good enough. Suffer then.

@ParisianThinker Ай бұрын

Thankful Melody is your guest. She is amazing!

@m3_melody Ай бұрын

Thank you so much and thank you for watching!

@ParisianThinker 3 сағат бұрын

And a song which reminds me of this discussion: 16 TONS: kzfaq.info/get/bejne/e5uGgL2izLzegqM.html You load 16 tons and what do you get? Another day older and deeper in debt.

@MasterRoss-sn7dl Ай бұрын

I was surprised what the banks were willing to loan me in 2020 for a mortgage. No way I could take out that much money. I’m fairly financially literate, I have savings and no debt. But the thought that they’d loan me as much as they did doesn’t mean I can afford it. There is no financial counseling that comes with the loan. So many financially illiterate

@jvancek Ай бұрын

Sorry for your loss, you would be significantly wealthier today if you bought that super expensive house. 2% 30 yr fixed mortgage........

@MasterRoss-sn7dl Ай бұрын

@@jvancek nope! If you can’t afford it it doesn’t matter the interest rate.

@joeking6763 Ай бұрын

@@MasterRoss-sn7dl Right! - Just because you can, doesn't mean you should.

@lachicarivers51demilo52 Ай бұрын

Adam always appreciate so much when you have Melody on not only because she is absolutely brilliant in her field, but because she also has such a caring beautiful soul for humanity and their plight in these very difficult times.

@m3_melody Ай бұрын

Those kind words mean a lot. Thank you so much and thank you for watching.

@Jalleur14325 Ай бұрын

Generalisation but women tend to have a more caring attitude - it's baked into biology and proven by data. For example, when it comes to nurturing the environment, when women are involved in decision making about taking care of it, the environment improves.

@robertmillar9279 27 күн бұрын

I agree.

@FecklessFroghopper Ай бұрын

Excited to have Melody back on. I love when you have her to discuss residential RE, as well as when you have Nick from Reventure (in addition to your surprise guest appearances on Nick's channel).

@Nicehousecrappycar Ай бұрын

Adam, you interview people who have worldwide reputations, undeniable Giants..., but Melody is my favorite recurring guest

@user-hi1mj4mc3w Ай бұрын

The plan is to squeeze every ounce of value from the consumers, foreclosure them, blackrock et al hoover up the distressed assets and then they'll permanently rent and live in precariously.😅 🤗🤗🔥

@michaeldavid6832 Ай бұрын

Rents are too high already. People are living with their parents. There isn't large glut of potential renters aching to rent at even higher prices than today. There are zero new renters because they can't afford rent. The youngest can least afford it and yet they're supposed to be the most renters. Blackrock may get properties, but once they try to realize the gains on those properties, they'll collapse housing and rent prices because they're the biggest owner of houses. This is the problem with real estate. If you own huge amounts of it, when you begin selling you immediately change supply in the market which puts downward pressure on prices. This is why their gains are only on paper. As soon as they sell back into the market, they'll evaporate most of their gains. If they hold tons of empty properties, the upkeep and taxes alone are a huge cost -- if you don't pay to maintain the empty property, it will fast go to seed.

@internetpointsbank 18 күн бұрын

Except US is getting a influx of new renters from across all boarders.

@vpeters2647 Ай бұрын

Individuals still need to take some responsability for their own finances

@Jalleur14325 Ай бұрын

The invisible nature of taxpayer subsidies for everything is very damaging to society. Before handouts people would ask their friends or family to help when they fell on hard times. Now people just go and cash a cheque from the taxpayer.

@mth469 Ай бұрын

@@Jalleur14325 replace the word "people" with banksters.

@theceltbeserk1 Ай бұрын

How were people not aware that the skipped payments were being tacked on to the back of the loan with interest still accruing?

@lisabrowning2724 Ай бұрын

They were told. No free lunch.

@user-lb8bg6kj9m Ай бұрын

A fancy way of banks offloading their junk loans on the taxpayer.

@MichaelHarrington17 Ай бұрын

Melody's non-financial advice about continuing to build human capital through education and curiosity is perfect. Resiliency, adaptability, robustness, anti-fragility, diversification are the keys to surviving a world that is constantly changing.

@jeffkolp3526 Ай бұрын

Thanks for having Melody on the show! I need to listen to the first half. Sh*t show is coming! The real pain from 2008 was not felt or recognized until late 2010 & 2011. I know - started my business in June 2008 and made it through by grace and relentless work!

@edwardk4198 Ай бұрын

In a nutshell liquidity is constantly being pumped in all aspects of this financialized economy. There is no finance just refinance.

@HungLikeAPeanut Ай бұрын

It’s this feeling of turmoil and uncertainty that’s kept me out of the housing market For the last 3 years. I had to talk my girlfriend off the FOMO ledge & convince her to rent for a little longer. When I saw what I was paying versus what I was getting I stopped looking at houses. It was my feeling then that if I chose to buy I would soon be apart of the delinquency crowd.

@bradw2k Ай бұрын

It's a terrible time to buy for sure

@JohnDaniels Ай бұрын

3 years, I am over 5 years waiting 😭 But i feel like we are right on the cusp of another 2008 or worse crisis

@VeskoChicago Ай бұрын

There are 2 guests on your show that whenever they come on I’ll drop whatever I’m doing to listen to what they have to say . Melody is one of them . Thank you for bringing her on to share her insight on the housing market . The second guest is Danielle DiMartino Booth .Please bring DDB back so you can continue the discussion about Basel 3 endgame .Love your show !

@kelleylane1203 Ай бұрын

Agreed! Danielle & Melody are the best. Adam as well.

@cabragooncabulous4082 Ай бұрын

As a part time realtor watching. I was assuming this is gonna be dull. Then she spoke street level stuff. And the dark fraudulent stuff intertwined with Govt? Where at some point the people will be throwing the poop into the Govt’s fan? I started to love her.

@michaeljacobs4546 Ай бұрын

Whatever the guvmunt touches turns to shit, call it the anti-Midas effect, which has a double meaning considering how they are trashing the dollar that once was as good as gold and now is becoming toilet paper.

@t4ngen7 Ай бұрын

53:18 That was me, Joe home owner last year. I though for sure I could just throw it on the market and sell quickly just cleaning it up a bit due to low inventory and based on zestimate. Nope. Buyers at these prices are expecting updated and remodeled. Had to spend nearly $40k to fix it up and drop the price by $50k. In my case, I got multiple offers at way over list and at least got my fix up money back. But that’s still way less than what I’d have cleared at the first asking (without the update costs).

@macy9123 Ай бұрын

Having sold last year, thinking this was going to play out, This is getting better by the minute !! Melody on fire !!

@davidlanham99 Ай бұрын

The Means Of Production owns both parties, the media, the companies that own the media, they fund them with advertising, and they own academia, and they own all the judges appointed by both parties that they own, and they censor people like me with the platforms they own. That’s why “nobody’s talking about it”.

@ziv2liv Ай бұрын

The biggest problem of HEL and HELOC is that they have adjustable rate, and interest rate keep going up, your payment s going up as well and even though you may be able to still afford you first loan, that second loan may trigger a foreclosure. Ms Wright is right, that seems like a horrible idea.

@fredgoch8251 Ай бұрын

Melody is amazing! Get her back!

@eliascastillo1641 Ай бұрын

How can people be surprised about the forbearance amount being put on the back of the loan. Did they think the banks were gonna just cancel about 2 years of payments? At least it was non interest bearing.

@joeking6763 Ай бұрын

you'd be surprised how many thought that!

@internetpointsbank 18 күн бұрын

Considering corporate and student bailouts I would assume that most thought they didn't have to pay.

@brianjarrard869 Ай бұрын

Listings are being price reduced across the board….. that’s not consistent with an inventory shortage. Tax and insurance costs are SKYROCKETING. Builders are providing huge incentives….. the clock is ticking on the start of National price declines

@rogerwestgate4724 Ай бұрын

My homeowners insurance doubled this year

@ChrisGenXer Ай бұрын

Melody is amazing!!! Love that you had her on.

@dannycalley7777 Ай бұрын

CGX ...............she brings the Knowledge !!!

@viewerone Ай бұрын

😡😡😡😡😡😡😡 sick of this childish government.

@tck7394 Ай бұрын

This, in conjunction with the involvement of BlackRock , Vanguard and other big 'stakeholders', in the real estate market, will result in "you will own nothing and be happy". Thank you Adam for your excellent interviews and content. Thank you Melody for your invaluable insight.

@janerobinson7078 29 күн бұрын

You’re an EXCELLENT interviewer. Always such great content.

@realestatemindset Ай бұрын

Absolutely spectacular 🎉🎉🎉 Well said, great interview and collaboration.

@haigrak9497 Ай бұрын

BONKERS!

@michaeljacobs4546 Ай бұрын

Absolutely zero about this in the financial press. We thought that we had a different set of problems than in 2008 but SURPRISE! With the other problems that we are facing this time around this is like the cherry on top of brain cancer for the economy.

@RobWilliams007 Ай бұрын

So Basel III decides it’s too risky for banks but not for Uncle Sam to provide these loans. That makes so much sense - not.

@slowridefpv9668 Ай бұрын

Government sponsored car loans are bound to be next.

@Dave-lm5ic 24 күн бұрын

It"s Truly hard to imagine what another $2 trillion pumped into the economy will do to inflation on top of loan defaults, FOMO, Corporate buying of homes and a generation of Americans that cannot afford home ownership.

@sudo2998 Ай бұрын

Meredith Whitney's article... was just nuts! I feel like our so-called thought leaders are dragging us by the nose to our financial destruction.

@brendabadih8855 Ай бұрын

Trust your feelings. Or gut or intuition. Or just do the math . I will gladly pay you Tuesday for a hamburger today.

@REWatchman Ай бұрын

Selling new builds to investors is something I’m making a video on. Lennar sold a whole block in a new build neighborhood to an investor (next to families), investor is now selling some bc couldn’t get rent they expected

@m3_melody Ай бұрын

Hey there! This is one of my biggest fears.

@shanerogers9386 Ай бұрын

Great news about them both being able to wish the rent up and extort people to live. You guys have any matches?

@markpitchford7375 22 күн бұрын

@@m3_melody Fear? I think this is wonderful news - bulk investors losing money on single family homes.

@spsp4k390 Ай бұрын

Thanks for the educational podcast. Covert equity withdrawal loans and 85% non-bank GSE sponsored mortgages, unlimited open fiscal spending like IRA, forgiven student loans, record high military spending, sustaining Ukraine Gaza wars, stirring conflicts in the South Sea and Taiwan strait manifest themselves into the skyrocketing national debts exceeding $34T and persistent inflation.

@rl9808 Ай бұрын

Gonna stay in the rv This year.

@thecloudtechguy Ай бұрын

I totally agree and witnessing.. "Most people are dillusional about the value of their homes....".

@MElife4ME Ай бұрын

How about the number of people that joined the military because college was not an option because of money or to gain access to the GI Bill to help pay for school and gave the ultimate sacrifice?. Makes me sick.

@russbarrows6689 Ай бұрын

Talking about unemployment rates, I talk with a lot of people who have recently been through large life changes. One of those, is loosing a job. I know two people who have lost their full-time jobs. In both cases, they each found two part-time jobs which do not match the income they had been making. Is the government counting each of these situations as an increase in employment?

@redtiger7268 Ай бұрын

One of the largest sectors I am seeing in mortgage defaults are the people who bought in 2021-2023 thinking they would become the next Air BnB mogul. Those people bought with the projections they would be rented 22-27 nights a month. When they tried to flip them to long term rentals the max rates do not cover the mortgages.

@Dressy7 Ай бұрын

Adam you are a very important human, keep it up sir, thousands and thousands are listening and benefiting from your work. Much thanks!

@adam.taggart Ай бұрын

Wow, thank you!

@eaglewing1415 Ай бұрын

A great interview. If the govt is about to throw more money into the economy, expect house prices and inflation to go up. To save housing, it might cost the overall economy.

@cjmuniz12 Ай бұрын

Enough of these garbage loans, let it crash!

@brendabadih8855 Ай бұрын

That's the plan crash it and buy it back for pennies.

@miguelleiva897 Ай бұрын

It still blows my mind how people use their roofs as a speculative asset mabe I'm old fashion but I was brought up that your house is not to be touched under any circumstance now I hear people changing houses like if it was a used car trading it in for the new model crazy

@HODIUSDUDE Ай бұрын

Part of the cause for that is that the job market, which is more mobile than it used to be. People move to another city or state to follow a career. The company may ask them to relocate. But in many cases employees are chasing better opportunities. It's rare to stay with a company for 10-20 years anymore.

@dianay6691 Ай бұрын

That's exactly the mistake Australians and Canadians did for the last 20 years.

@margator1036 Ай бұрын

The most feared and dangerous words in the English language, I am here from the Federal Government and here to help you. Burying them in debt they can never pay back. I guess the big funds will clean up the mess.

@ulflindqvist1790 Ай бұрын

Melody Wright is unique with her combination of knowledge, experience and honesty. She seems to be free of platitudes and the usual "move on-nothing to see" overstatements when it comes to the real estate market. Looking forward to listening to her again😊❤

@BP-1972 25 күн бұрын

Just got a new appraisal on my home. Went from $425k up to $525k. Magic.

@bobbrown4069 Ай бұрын

A much better interview by someone with specific knowledge in a specific sector about a specific proposal. The narrowness is a credit to the presentation, rather than these grand, sweeping program about the economy

@tomdonovan4842 Ай бұрын

Excellent topic, smart guest

@promiserosehorton7341 Ай бұрын

I love Melody! She's so knowledgeable. ❤

@robertbender73 Ай бұрын

FNM and Fred are now owned by the govt, so any mortgage default losses will be borne by the govt./taxpayers. Govt has been taking the profits from these loan sales and spending them on social issues. No bailouts needed, losses will just hit the national debt

@shoobidyboop8634 Ай бұрын

Great interview, really explains yet another way the govt wildly distorts markets.

@mattanderson6672 Ай бұрын

She's brilliant !! I love it when you have Melody on Thanks or having her back Thank you both

@zkal11 Ай бұрын

Follow a handfull of financial channels, this is my favorite. I always watch Melody's videos when I see them on any channel. Both of you produce phenomenal work.

@adam.taggart Ай бұрын

Thank you!

@calebfast8088 Ай бұрын

Student loan forgiveness is one of the absolute most messed up things of our generation. It's disgusting.

@Jalleur14325 Ай бұрын

What's worse is the corruption of the universities in jacking up their fees as soon as the government offered loan help.

@Jalleur14325 Ай бұрын

The whole system is a rotting ball of corruption.

@luanverteti2568 Ай бұрын

More than $1.9 Trillion tax cuts to the super wealthy? You SUCK!!!

@brn2863 Ай бұрын

That isn't close to the most disgusting giveaway financially. Not remotely close.

@calebfast8088 Ай бұрын

@@brn2863 There's a reason why I said "one of", my dude. I know there have been bigger and badder ones. Bailing out the bankers in 2008, for example. But this? This is sowing division that is largely along political party lines since democrats are mpre often the ones who went to college and rack up debt for it that isn't easily paid off by the jobs they hope to get. As such, there is contention sowed, and that's dangerous. Knowingly bailing people out on this without addressing the discord and discontent it would cause is disgusting.

@Firehorse39 Ай бұрын

Welcome Melody! Our all time favorite expert! I’ve learned more in the last year from your informative education than all our years since purchasing our first home in 1970.

@The_Clumsy_Investor Ай бұрын

I see Melody’s name, I click on the video! Easy as that!

@BobSmith-ve8sw Ай бұрын

Outstanding interview with an outstanding guest. Well done both of you!

@nosac1230 Ай бұрын

Melody is the best! Thanks for having her on. It's always a pleasure. I don't think anyone else out there can provide such an honest and down-to-earth perspective.

@Zflayre Ай бұрын

Melody is by far your best guest, cheers

@wmc9722 Ай бұрын

Great interview. Smart lady. I learned a lot, AND, national reports do not really play into what I do! I have collected a five homes in nice neighborhoods and 'the value' of the places slowly go up. Older, with more bugs, perhaps. And yet the amount of USD to buy one increases. For me the game is to take whatever rental income we derive and put it back into the place as required. Less income is fine. We have jobs. What I like is when there are constant letters and calls from people who want to buy what we have. We do not sell anything as the way to build wealth is in owning solid money making property. When rates are low we can tap into the (large) equity for large amounts of cash to help us get the next one. It's a game to which we are fortunate to have access. Not too many people are so lucky. I feel sorry for people who do not have the mental capacity to figure out how to get into a proper house. I want to help others do so. Adam: Inflation matters less when you live in the place for a few years and day by day, fix it with your own hands.

@clintcowan9424 Ай бұрын

The big short 2.0 is commercial real estate

@driz77 Ай бұрын

Government policy has been "picking winners and losers" since 1978, when we pivoted to Supply Side economic theory. Before that, the U.S. had a true level playing field, and all socioeconomic classes were in near-perfect linear proportion.

@driz77 Ай бұрын

And isn't GSE just a repeat of 2008???

@jurgswiss706 Ай бұрын

UNBELIEVABLE! Wow, Melody is amazing and thank you, thank you Adam for having her on. I'm signing up to support you...as a result.

@adam.taggart Ай бұрын

Wow, thank you!

@jurgswiss706 Ай бұрын

@@adam.taggart Done! Thank you.

@lawLess-fs1qx Ай бұрын

Fascinating guest. Obviously a bad idea so the Government will approve Freddie Mac HELOC.

@jimgalle1371 Ай бұрын

Amazing knowledge base from the Lady ... Awesome video ... Thank you.

@pier21realty Ай бұрын

One of the greatest informative videos on this topic I've seen. Congratulations. We share a common denominator on Sachs Realty's Channel. Thank you for sharing this .

@TopMortgageLender Ай бұрын

As someone who works in the non-bank world, I would benefit greatly by having access to second liens. However, I'm not a fan of anything tied to Govt being tied to second liens. In 2007, I did a loan for a Redskins Cheerleader who sold season tickets. Tickets went from $4k to $8k for two club seats in three years. She said, "Everyone just said I can use my equity line." When banks then cut all their HELOCs and lending tightened, guess what...ticket sales dropped HARD. She also lost her job selling tickets...Easy access to home equity, while it still exists already with local banks, is at it's core, very inflationary and adds extreme risk during a downturn for whoever holds the paper.

@michaeljacobs4546 Ай бұрын

I'm in big banking and they are mostly out of housing.

@midnightdragonfly9707 28 күн бұрын

Thanks for having Melody On. Love her🎉

@PianoMatronNeeNee Ай бұрын

Love to hear Melody’s insightful expertise. Thank you for having her on.

@bersig Ай бұрын

It's all fun and games on the way up. Then when the bubble pops it's all, “I’m shocked, shocked to find that gambling is going on here!”

@jetjones5175 Ай бұрын

Love Melody's info and perspective, she is one of my favorites!

@glengarbera7367 Ай бұрын

Melody is the voice of reason. I wish she would analyze the Canadian real estate market.

@smknjoe98 Ай бұрын

Melody... Please come visit Las Vegas. I'd love to get your perspective on this housing market. I moved to Las Vegas from Austin last year and as an Austin home owner I'm in a similar situation to many others with a nice low mortgage rate and good equity. It took me 6 months to get it rented after a couple price decreases. Saturated! As I've watched the housing market decline in Austin in the last year I've seen the opposite in Vegas and I'm at a loss to explain it. Locations are different. Vegas seems to have low inventory, migration mostly form California and a decent employment environment keeping prices high but it's not nearly as diversified in terms of employment opportunities as Austin. Frustrating. Vegas feels like a heavily manipulated market at the moment.

@caroledoerr6872 Ай бұрын

Melody I am happy to hear a person who understands what is happening to the consumer and also a good look from a political and financial point of view! The picture is clear that the government represents the financial industry not the people.