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2024 WORST YEAR IN REAL ESTATE HISTORY...SO FAR
Рет қаралды 102,315
Күн бұрынSo far 2024 has turned out to be the worst home buying season on record since the national Association of realtors began keeping track. With a combination of high prices and high interest rates and inflation, gripping everyone's budget most people cannot afford to buy a home in this environment. This is going to have major implications on the future of the housing market.
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#realestate #housingmarket #homeprices #housingmarketcrash
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZfaq channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZfaq, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.
@nicolasbenson009 Ай бұрын
To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
@BridgetMiller- Ай бұрын
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
@tatianastarcic Ай бұрын
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
@berniceburgos- Ай бұрын
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
@tatianastarcic Ай бұрын
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
@Michaelparker12 Ай бұрын
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
@leondonald Ай бұрын
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
@robert-1miller Ай бұрын
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
@donna_martins Ай бұрын
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
@Walter_hill_ Ай бұрын
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
@DavidRiggs-dc7jk Ай бұрын
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
@Walter_hill_ Ай бұрын
Vivian Jean Wilhelm is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
@jefferykeeper9034 Ай бұрын
One more reason people are not buying is that quality of work is very poor
@xisigma Ай бұрын
Yup, wood construction is obsolete. Sticks and stuffing.
@LittleMopeHead Ай бұрын
I bought my '71 house half year ago. I worked some lighting in the attic crawlspace, and noticed the lumber was of high quality wood. When I tried hammering nails to them, the nails have trouble getting in and got bent many times.
@Howardlifts Ай бұрын
@@xisigmaillegals
@stevenevangelist5221 Ай бұрын
Exactly. Was your home built correctly?
@talkingonline821 Ай бұрын
American residential real estate is like buying junk bonds. Overpriced and over speculated crap.
@comment6864 Ай бұрын
Exactly!! Speculation is the problem, together with the so called 'real estate industry'.. they're the middleman that cause you to hear on the news that things are 'good' when prices are rising, but don't know squat about what they sell - try asking one if the house has a furnace or a boiler.. you might get a blank stare because they don't know the difference 😂. Been there!
@TheNoticer83 29 күн бұрын
@talkingonline821 The part that really cements this idea is that houses in the middle of nowhere with no jobs inflated like crazy too. People used to always say that if you can't afford a house in your area just move further out. That simply isn't an option anymore. Commuting 3 hours daily just so you can have a job that pays simply isn't worth it. Better to just keep renting.
@smokey_gator_239 28 күн бұрын
So what do you do live in a cardboard box?
@DCPEvo Ай бұрын
I’m a cash buyer so I don’t care about interest rates, but I will not buy a home from someone who thinks they can sell for 2x what they bought the home for 2-3 years ago. They can sit on it.
@rocmon Ай бұрын
But you'll accept the double on your sale? 🤣
@TheSuperdodgy Ай бұрын
You'll be waiting a while.
@andrewgleason586 Ай бұрын
@@rocmon nope keep it,it's worth more than double...
@Trebor_I Ай бұрын
I'm in the same position.
@andrewgleason586 Ай бұрын
@@Trebor_I go to town public auction and maybe get a deal..
@MarineMaester Ай бұрын
In 96 my mother worked for $11 an hour 50 hours a week and was able to get a 48k mortgage on a 1600sqf home from saving $200 a month for 2 years. Now I make $11 an hour 55 hour work weeks and... I live paycheck to paycheck in Lowe income government assistant housing because renting anything else would eat 2/3 my paycheck. I'll never afford to buy a house
@KimJimCastro Ай бұрын
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, she was able to scale this quickly to $150,000. If I can do this in a year, you can do better.
@MarineMaester Ай бұрын
@@KimJimCastroHow can i reach this abby Joseph Cohen, if you don't mind me asking?
@KimJimCastro Ай бұрын
@@MarineMaester Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
@PoshanMind Ай бұрын
Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
@PoshanMind Ай бұрын
The very first time we tried, we invested $7000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
@JesseMayhill Ай бұрын
After building a rental property portfolio, I became exhausted with real estate market challenges and decided to sell. Now, with about $5 million, I'm contemplating investing in the stock market with solid positions. What are your thoughts?
@Duttonmuffins Ай бұрын
With $5 million, one wrong move can have significant consequences. It's crucial to invest cautiously and diversify, with 40-50% in safe investments. Given your budget, I recommend considering financial advisory services.
@Frankweily Ай бұрын
Absolutely! Most undervalue advisors, but their expertise and risk mitigation strategies are invaluable for savvy investors. For those with busy schedules, monitoring the market is challenging, so we delegate to experts. I'm currently working with one, and my portfolio has grown to $1.3M, a 25% increase from last year, with robust diversification and inflation hedging.
@Bunnydrille Ай бұрын
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
@Frankweily Ай бұрын
She goes by "Melissa Elise Robinson" I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
@Bunnydrille Ай бұрын
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
@Flowers29884 Ай бұрын
I’m not buying a $400,000 house that’s worth at best $180.000 at best. People who buy end up in debt beyond their ability to pay
@timr31908 Ай бұрын
For sure I think renting is the only way to go. Unless you want to get burnt
@rnish2958 Ай бұрын
I payed $93,000 for a house that was worth $85,000. Today, Zillow says its "worth" ~$550,000 - $600,000. It's never a good time to buy.
@andrewgleason586 Ай бұрын
@@timr31908I will never make a landlord rich, loosing battle for yourself,buy a fixer upper, cheaper overall,and a good financial move...
@FrankRizzo557 Ай бұрын
@@timr31908 Depends.
@ployth9000 Ай бұрын
if I had the money to burn I would just to have a house and stop paying rent
@user-vi8ry9hq8j Ай бұрын
Alot of people are paying more in annual property tax than i paid for a house on 40 acres.
@hvaball150 Ай бұрын
A lot more are paying less, I bet.
@Tugela60 Ай бұрын
That is because they don't live where you do. Local budget bills are all different.
@giselawatson2203 Ай бұрын
And how long ago did you purchase the house on 40 acres?
@user-vi8ry9hq8j Ай бұрын
@@giselawatson2203 2009
@aronrodrigues Ай бұрын
40 acres in the middle of nowhere… There are some cities that they pay you to live there….
@meem-wx2pm Ай бұрын
Value of my house on Redfin has more than doubled in 3 years which makes no sense considering I didn't make any improvements. Yet the property taxes and insurance keep skyrocketing.
@jkmarshall3553 Ай бұрын
Redfin: it's just a really rough estimate... unless Redfin is willing to pay you that exact amount, I wouldn't spend that $$$ yet.
@scottysteadman5063 Ай бұрын
Enjoy that’s the plan tax you out of your house!!
@BREEZYM6015 Ай бұрын
I could buy your house and flip it. 😂
@andrewgleason586 Ай бұрын
Insurance is going up more than the tax...
@richardadams6988 Ай бұрын
Yeah, I know what you mean !!!....but the goverment need it more than us...hahaha...that's why they make the rules...
@rillesttalk Ай бұрын
No tax assessors office should be able to raise property taxes without thorough inspections of the homes first. This is a financial attack on the American people. Most of the politicians should be charged with benign neglect for allowing these hikes to happen.
@fw1421 Ай бұрын
I’m not letting any tax Astor’s into my home. It’s bad enough that HOA’s make our lives miserable with their strict regulations on what we can do to the outside.
@andrewgleason586 Ай бұрын
Also the home owners insurance...
@prd004.2 Ай бұрын
Mine just went up. No improvements on the house, in fact it’s worse. Not to mention, new construction around me has ruined the view and charm of my property. Needless to say I’m not happy
@redtiger7268 Ай бұрын
@@prd004.2Here in Texas there is a lawsuit against the assessor because of the way they have been raising taxes. A larger percentage goes to the local school district. What was happening was the school just decided they wanted 15% more money this year over last. The assessors office just increased the appraised value on every unit by 18% and than readjusted the tax rates to have the school get the money they wanted. Where did the money go? To build a brand new pro level stadium for the football team.
@gugy68 Ай бұрын
Every year my property taxes raise between $200 to $400 in CA.
@reginafisher9919 Ай бұрын
I bought a three-bedroom one-bath house for $80,000, why in the world would I ever sell that!!!
@SafeEffective-ls2pl Ай бұрын
Only if the neighborhood went to crap
@andrewgleason586 Ай бұрын
@@KennyCronin-wq8xq stay put,save money...
@michellebatzel5809 Ай бұрын
@@KennyCronin-wq8xqwhere was this? Never in my 50 years have I seen a home for less than 100k unless it was a trailer.
@googleuser868 Ай бұрын
Boarded up 4br brick ranch $35k 30 years ago on a country acre. Less than $10 had it looking good. Low taxes. Current prices are completely out of reason and many homes are built out of poor quality materials.
@andrewgleason586 Ай бұрын
@@reginafisher9919 flimsy and shoddy and overpriced,older ones are built stronger 💪
@stephanniekotalik9339 Ай бұрын
What’s crazy is that my sister and her husband were making 6 figure incomes prior to moving to Iowa from Chicago 3 years ago. They cleaned out all their savings to pay cash for a house now they both are laid off from their jobs. They are freaking out right now.
@CMBBmc-jd6ur Ай бұрын
Always use someone else’s money for a very large purchase. Gotta keep cash available.
@karlburmeister1552 Ай бұрын
This doesn't even make any sense. Inflation alone would have made up for their mortgage interest. Paying cash for a house makes no sense. You can easily invest that 80% in investments that exceed your mortgage rate. This is why super rich people still finance their houses.
@MereAYT Ай бұрын
Chicago is paying businesses a lot in tax breaks to push RTO because the city offers nothing to justify the high cost of living besides being forced to live there for your job. It is extremely crowded and doesn't have many good attractions.
@Mikegastaldo Ай бұрын
@@karlburmeister1552🤔...hmmm.. pretty sure you're not thinking about how fast the cash stacks up when the end of the month comes and you don't have a mortgage... rent...car payment... nothing/nada...it's all yours month after month after month...ya.. it's pretty ridiculous man how fast you end up with a couple hundred grand.. trust me I know
@mmmspaghetti Ай бұрын
What did they used to do for employment? Don't need company names but what were their roles and what sector does the company operate in?
@rachelgreen1368 Ай бұрын
Duplex in Pennsylvania used to be $200k in 2017. Now they try to sell the same duplex from 1978 for $500k - $600k!!!
@MbisonBalrog Ай бұрын
The higher interest rate should mean no one will buy this forcing seller keep price low.
@user-wq7yc2om3d Ай бұрын
I'm in PA and I can confirm this.
@JackT-nn8iy Ай бұрын
Same exactly #’s here in FL. Inventory is on the rise. Homes price will come down over next 12 to 18 months
@jerrypolverino6025 Ай бұрын
I have lived in Florida for most of my life and I have seen it change. I didn’t like what I was seeing and I didn’t like what was happening to my financial situation so I sold out and left. I was lucky enough to get out at the top. I don’t regret my decision to leave for a second. My expenses are roughly one half of what they were in Florida. Florida is a gun happy state now and crime is rampant. I traded my home in the Florida Keys for a house that’s twice as big on 25 acres at the top of the mountain. I have an 80 mile view and deer in my front yard.
@lindylou3519 Ай бұрын
Sounds so peaceful. Good for you❤
@jerrypolverino6025 Ай бұрын
@@lindylou3519 It’s just beautiful here.
@patriciamay6396 Ай бұрын
Sounds nice
@paullittle6458 Ай бұрын
Loved "The Keys" when I visited their in the early 90s...."Theater On The Sea" 🙂
@jerrypolverino6025 Ай бұрын
@@paullittle6458 I did to many years ago.
@Robert-sy9ji Ай бұрын
Something buyers are more and more concerned about(beyond the price of the house) is the rising cost of taxes, insurance and maintenance. Even if you pay off a house, monthly costs are almost like having a mortgage anyway.
@churchofpos2279 Ай бұрын
Depends on where you live My property taxes , insurance, and maintainence cost me a total about $125 a month. My house is paid off. When I turn 65, there will be a cap on my property taxes.
@googleuser868 Ай бұрын
Under $400 annual property tax. No insurance. Very low maintenance cost and I DIY everything.
@charlesp467 Ай бұрын
Home paid off in Houston and taxed only $290.00 a month . Not bad on a house appraisal of 400k
@PianoMatronNeeNee Ай бұрын
True! Florida is crazy right now. I’m leaving because of it.
@bernadine4236 Ай бұрын
There are no "starter" homes for those starting put now. It's sad for our young generation.
@PHenry-wn3li Ай бұрын
Forget buying a house, just buy the car of your dreams.
@JBoy340a Ай бұрын
Yep. One of my younger relatives bought at the beginning of the pandemic. Everyone was freaked out and buyers had disappeared from the market. She was meet at the place by a real estate agent that opened the door and asked her to text him so he could come and lock up. She toured the place and got it for 10% off asking with a 2.5% mortgage. As they say, "the time to buy is when there is blood in the streets."
@felixthecat2786 Ай бұрын
There are plenty of starter homes, but people are trying to charge "New Home" prices for them. There's no way that a home built more than 20-30 years ago is worth 500,000 to a million dollars and yet all I see are 400,000-500,000 dollar homes on the market. Everyone wants to be a millionaire these days.
@JBoy340a 28 күн бұрын
@@felixthecat2786 Newer house are necessarily better. A lot of these new tract homes are just disaster. Built as fast as the can. And often on much smaller lots since the real cost is the land.
@dlemmon1276 17 күн бұрын
@@JBoy340aYes! and 3 and 4 stories high on a 5k sf lot......just for greed!
@TheNoticer83 Ай бұрын
Ive been saving up for a house for the better part of a decade, and at this point i can keep waiting if i have to. No sense in buying houses at the top.
@Gmac_Greg_M 29 күн бұрын
How do you know it’s the top? I thought back in 2016 houses were too expensive and that there would be a crash in Florida. Good thing I quickly overcame stupidity and bought / sold several properties since then or else my net worth would be a hell of a lot less.
@karifredrikson-lr1mm Ай бұрын
Thank you Michael! I am 74 & living in Phoenix, Retirement Community. It is comfortable living on my Pension & SS. But this isn’t the Country I grew up in. With your help, we can be wiser. Anything can happen!
@OllieCat7 Ай бұрын
Enjoyed your reply. I am younger than you chronologically, but its not the country I grew up in either.
@jedi0524 Ай бұрын
I am an agent in north Texas. I have rarely seen this many daily new listings. I have NEVER seen this many new listings where the daily price decrease are even higher
@rem1762 Ай бұрын
Property tax is insane in Texas. Typical as they brag how wonderful their state is while they blind side people with illegal and runaway taxes. They're also a sanctuary state.
@chrislindsay3104 Ай бұрын
I live in North Dallas. There is a builder near us that has knocked many $10k's off unsold million dollar homes.
@Dimythios Ай бұрын
@@chrislindsay3104 Yea but your property taxes and taxes overall are insane.
@giselawatson2203 Ай бұрын
Where I’ve been looking in western NC very few reductions, way overpriced, and the rest just sitting there, nothing contingent, nothing sold, only new overpriced listings for many pieces of s-t
@paulcarlson4230 Ай бұрын
Yes drop the price another 100k and maybe
@Daneilchirs Ай бұрын
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
@shizue-w7n Ай бұрын
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
@thuylamson-z7t Ай бұрын
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
@mertie-l2f Ай бұрын
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@jeanlaudato Ай бұрын
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@mertie-l2f Ай бұрын
I searched for her full name online, found her page, and sent an email to schedule a meeting. Hopefully, she responds soon. Thank you
@dillonvillon Ай бұрын
I'm a buyer and I'm here just watching. Houses that have been on market for 100+ days and sellers not wanting to budge on price Also, im not spending 400k on a house that needs 10-20k renovations when it was bout 3 years ago for 280k
@maketheconstitutiongreatag5038 Ай бұрын
Printing money has consequences. Those responsible must be held to account.
@deseosuho Ай бұрын
M2 money supply has increased in more than 95 of the last 100 years. That's quite a long accountability list to attend to, brother.
@Tugela60 Ай бұрын
It is not printing money, it is credit. Do you believe in Islamic banking then? Sounds like you do.
@shannondavis5728 Ай бұрын
Inflation down to 3% my astray!!!!!😡😡😡🤬🤬🤬🤬
@andrewgleason586 Ай бұрын
@@shannondavis5728 Powell said he may not cut rates for 2 years...
@tubbyt6318 Ай бұрын
Paying 250k for a 900sqft ranch home is crazy and renting a home is out the question. Not paying off someone else home
@mikeclark-gf9bz Ай бұрын
As a former g.s.e. employee your spot on..the unemployment rate is.2.5 percent higher than reported . Look at all of the revisions made.months later from the feds.
@realestatephotovideoshawns1177 Ай бұрын
50% off within the next two years🎉 but also the start of a depression. And those 19% of people are all realtors. Great video as always! I follow you every day, and quite often I post your videos on Facebook. I’m right there with you in the way that you think about things.
@jrodd999 Ай бұрын
After covid the banks and realestate companies have raised the home prices by 2.5 times. Its ridiculous
@JoshuaCyberNerd Ай бұрын
Tonight I was looking at homes where I live in South Dakota. A house that sold for $400k in 2018 is now on the market for over $800k. Insane! These people are delusional to think anyone is going to buy their home at that price.
@tubenachos Ай бұрын
You'll be surprised
@JBoy340a Ай бұрын
Are they selling? If so, the price is correct.
@kayakerdude3727 Ай бұрын
Between food, the increase in car prices, gas, electricity, taxes... basically everything! Nobody has money left to pay a monthly mortgage and all the bills that come with a house.
@user-ur3hh8ie1d Ай бұрын
Sales of high valued homes - this is exactly what happened in the Norwegian housing crisis that started in 1986 and lasted 5 years
@AstaKristjan Ай бұрын
The stock market on the other hand is giving off some serious 1929 vibes. With all the talk of an impending financial storm, I'm wondering what the best moves are to protect investments right now.
@Erinmills98 Ай бұрын
it's like trying to predict the weather in a hurricane. I'm thinking of rebalancing my portfolio, but it's hard to know what's the right move with so much uncertainty in both markets.
@LarsBergstrom-uh2eu Ай бұрын
Right? It's almost overwhelming trying to make sense of all the conflicting signals. I've started looking at different strategies, but it's hard to know what will actually work.
@IrenaDolinsek Ай бұрын
I've been researching different advisors who specialize in navigating market turbulence. If anyone has any recommendations or has found someone who’s been helpful, I'd appreciate the tip.
@Andrian-ch3on Ай бұрын
Kristin Amy Rose
@Andrian-ch3on Ай бұрын
look her up and thank me later
@jstanovic Ай бұрын
His opinion is stilted by living in FL where cost of living has sky rocketed! My friend has a UHall business near Sarasota and is doing a great business renting trailers to people moving out!
@FloridaMan23 Ай бұрын
I’m honestly ready to leave Florida for Tennessee
@jkmarshall3553 Ай бұрын
@@FloridaMan23 Looking at Wyoming myself.
@giselawatson2203 Ай бұрын
I’d love to move out.
@SafeEffective-ls2pl Ай бұрын
I've seen thousands of Florida plates here in Texas the past few years
@metoo5004 Ай бұрын
Awesome!!!!
@s99614 Ай бұрын
At least we finally beat Medicare!
@jkmarshall3553 Ай бұрын
Yeh, go Brandon!!!
@BREEZYM6015 Ай бұрын
@@jkmarshall3553I'm so glad you agree. I thought I was the only one. 😂
@jimcrawford3185 Ай бұрын
At least Trump is vice president
@SafeEffective-ls2pl Ай бұрын
Putin is the president of Ukraine now
@marknewton6984 Ай бұрын
Who? 😮
@Brandee. Ай бұрын
In NY, real estate has slowed down too....homes by me listed 100K over value and many of them are NOT turn key ..no good...
@MichaelPhillip156 Ай бұрын
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
@OliviaBuffett Ай бұрын
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
@Mark_11798 Ай бұрын
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Barry Silbert, has been an amazing experience.
@KimberlyJones819 Ай бұрын
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down🤦🏽of myself because of low finance but I still believe in God
@James11553 Ай бұрын
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Barry Silbert
@JacobMiller60 Ай бұрын
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?
@JackMorgan_RLP Ай бұрын
I love how real estate is at a all time high but agents make less than ever before lol
@FLlife321 Ай бұрын
The association of realtors are looking for bag holders. They don’t care about someone losing money/foreclosing on a home if they overpay. They make money when homes are selling so you will never hear anything negative from realtors.
@bonniemartenez5294 Ай бұрын
The property taxes are too high which make the rents go up. Everything just keeps going up.
@taroman7100 Ай бұрын
this is a damn crime there comes a breaking point
@xxtreyxx12131990good Ай бұрын
Everything minus what you get payed
@itshadouken Ай бұрын
Property taxes are different everywhere, some states have no property taxes…
@--Morpheus-- Ай бұрын
All according to plan
@ployth9000 Ай бұрын
everything but pay increases
@amunderdog Ай бұрын
Layoffs and businesses large and small closing. Small business failures and about to fail.
@ferretapocalypse Ай бұрын
I’ve decided to just go modular/manufactured home and some land. There are awesome modular log cabin style homes for 110K buy a 100K plot somewhere and it’s still cheaper than buying these cookie cutter Stepford wives homes.
@TheSuperdodgy Ай бұрын
That's a great idea.
@kilnmaster Ай бұрын
Sure but his audience only lived beyond their means. With adult toys like boats vacation homes, and exuberance of their corrupt way of life. Now they would never stoop so low as live in a module home. They are reaping what they sowed. 😅
@abiyah3176 Ай бұрын
Modular homes are better built than this new matchbox houses.
@zsigzsag Ай бұрын
I was looking at some of these "shed to home" articles and videos. Some of these sheds are beautiful, have nice porches and bigger than the "tiny houses". Some are less than $20k. Not sure if you have to pay taxes on them just sales tax maybe, tax on the land for sure. Even if you own land tho, zoning might be a problem.
@cheesecakefan4880 Ай бұрын
They dont hold any value long term Those are not good investments unfortunately
@ChilltheImpaler Ай бұрын
We can't afford it, and I give up
@gennaro Ай бұрын
I work in tech and make a good chunk of change. I will not buy a house without having a 1 year runway of mortgage payments and living expenses + the ability to put 50% down. I have zero trust in job stability.
@MindBodySoulOk Ай бұрын
I left the job market at 60. The pay for IT has remained pretty much the same for the last 20 years.
@BREEZYM6015 Ай бұрын
How far along are you in attaining those goals?
@gennaro Ай бұрын
@@MindBodySoulOk I don't work in IT. I'm an engineer.
@gennaro Ай бұрын
@@BREEZYM6015 probably 3 years out. 1.5 years from a 50% down payment assuming I don't get laid off.
@natalliakamenev6828 25 күн бұрын
@@gennaroMy husband is a system engineer. His company filed for bankruptcy 1 year ago. He is still looking for a job.
@annoyed-b3y Ай бұрын
cost me 2000 to put up gutters myself on my house hardware prices are insane.
@KamalBerman Ай бұрын
I love this kind of video! Talking and walking, fact checking! You're doing a great job! Thanks a lot! 👏
@MindBodySoulOk Ай бұрын
He keeps forgetting that 40 million illegals have to live someplace. EVERY small town in America has an Hispanic population. The real number is closer to or above 40 million. They are in an awful lot of affordable housing that would otherwise be available to Americans.
@PianoMatronNeeNee Ай бұрын
@@MindBodySoulOkI’ve noticed a huge change in my city. So many Spanish who can’t speak ANY English.
@VicDamoneJr82 Ай бұрын
Most people who think their job is safe are just coping bc they have no other options …
@CorporateShill66 Ай бұрын
No one's job is safe. Automation will replace 90% of all jobs. "It happened before and we were fine". We have never experienced AI/Automation comparable to what's happening now/will happen soon.
@Bestmepossible Ай бұрын
Healthcare workers enter the chat.
@cheesecakefan4880 Ай бұрын
My husband does concrete for major ciries around US. He builds million dollar concrete skate parks Hes building one in Detroit Right now! Never been layed off Not during covid Not ever Trade jobs are not hurting.
@VicDamoneJr82 Ай бұрын
@@cheesecakefan4880 nobody is trying to break their back at 50
@VicDamoneJr82 Ай бұрын
@@Bestmepossible healthcare gets paid from the government so its a form of welfare
@shannondavis5728 Ай бұрын
Manufactured homes are being priced like regular homes in polk county,florida!!😳😳😳😳😳
@CMBBmc-jd6ur Ай бұрын
Same in Prescott, AZ.
@droyal104 Ай бұрын
NC too.
@chrisalley6282 Ай бұрын
I get pissed off seeing doublewides for $200,000
@privatecitizen4001 29 күн бұрын
Used double wides in trailer parks going for over 200k in Austin.
@iworkout6912 Ай бұрын
Michael walked by what looked like a closed All State office. The place look empty with a very faded sign hanging outside, and dirty windows.
@novadhd Ай бұрын
yea insurers dont like Cali lol
@pwu8194 Ай бұрын
It doesn't matter if there are one trillion homes on the market if the prices are all out of range for me. Home prices should be 4x buyer's income, no more than that. If I earn $80,000 a year, I shouldn't buy a $500,000 home. I should be buying a $320,000 home. A $500,000 home comes with insurance premium for a $500,000 home and property tax for a $500,000 home. If one's stretched too thin, it's very easy to lose the home if one become unemployed.
@hvaball150 Ай бұрын
You aren't a buyer. That's all you said. There are 85 million homes in the USA. Almost all will sell to a buyer. A real buyer.
@Norm475 Ай бұрын
50-60 years ago, the rule was 2 1/2 times your annual income.
@hvaball150 Ай бұрын
@@Norm475 that is still a rule today. There are houses out there for
@GeminiDre26 Ай бұрын
@@hvaball150hard disagree
@hvaball150 29 күн бұрын
@@GeminiDre26 awesome. 3x is a rule. There are 360 homes for sale. There are 85 million homes. Etc. I could be wrong. I didn't count them all.
@MichaelBrown-ny3et Ай бұрын
Insurance and taxes will kill Florida real estate from here on. Never mind the ridiculous prices and high interest rates on loans.
@picklerix6162 Ай бұрын
You can have high prices OR high interest rates and still sell houses. Houses don’t sell when both prices and interest rates are high.
@HanlinePyne Ай бұрын
Thanks for keeping us updated! I feel sympathy and empathy for our country. low income people are suffering to survive, and I appreciate Deborah. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
@BellamyLeander Ай бұрын
I began investing in stocks and Def earlier this year, and it is the best choice l've ever made. My portfolio is rounding up to almost a million, and I have realized that when a stock makes it to the news. Chances are you're quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, and maximize it.
@habibbaloch6046 Ай бұрын
What opportunities are there in the market, and how do 1 profit from it?
@HanlinePyne Ай бұрын
You can make a lot of money from the market regardless of whether it strengthens or crashes. The key is to be well positioned.
@iddimatondo4579 Ай бұрын
I would really like to know how this actually works.
@HanlinePyne Ай бұрын
All you need is a good capital, and the service of a professional broker, with those your investment will most certainly produce high yields.
@laqutis Ай бұрын
My townhouse in Henderson NV has more than doubled in value since purchased for cash in 2014. Since natural disasters like hurricanes, tornados, forest fires, do not occur too often here, home insurance is still very reasonable. The housing market is still strong in the Vegas basin even with all the construction happening. As long as the exodus from the west coast states continues, prices here are going to stay strong.
@ellwoodwolf Ай бұрын
Don't kid yourself Vegas hasn't set a new low temperature record in 20 years, its 114 outside.
@user-je6pn9pr3h Ай бұрын
Finally someone properly explains the housing inventory. Thank you Michael.
@fw1421 Ай бұрын
Well duh! Values have gone through the roof,property taxes are crazy,and interest rates are unaffordable!
@QWERTY-hl6wm Ай бұрын
Minimum wage in Portugal where I live gives you a room in a capital city and no money to survive, we have no money to buy anything, greed of landlords, corporations and banks🤮
@unitybeing777 Ай бұрын
Portugal esta fudido. Temos freemansons. O povo ordena nada.
@gypsygirl9 Ай бұрын
Sorry to hear that. I keep hearing that lots of retirees from the U.S. are going to Portugal, they think it is cheap to live there😮
@JBoy340a Ай бұрын
How much is the minimum wage?
@QWERTY-hl6wm Ай бұрын
@@JBoy340a850€ gross x 14 salaries a year 😢😢😢😢
@wespotter6985 Ай бұрын
I'm a snow bird And i've witnessed huge pricing crisis in south florida. The market is out of whack, And only a fifty percent price cut will get the the market moving again
@randalldance822 Ай бұрын
Where are the buyers? They're broke and they're waiting for interest rates to draw. And I was talking to a lottery litters. And most of them close friends and every time I use the word market crash. Oh no. It's a softening market and we all laughed. Anyway, it is what it is. Have a great weekend
@michellebatzel5809 Ай бұрын
What are you banging on about?
@SirCarlosMusicBMI Ай бұрын
🎉🎉🎉 it’s so insane how when I’m one of the first to watch your video, it just blows my mind how many hundreds of people log in and watch what you’re sharing. So glad that I started following your channel when I did. I’m very proud of you Michael with all your success 👏👏👏👏 Always be true to yourself and don’t forget that it’s ok to take a day off every now and then. (Just warn us the day before) I just don’t want to see you burn out. I really hope that you and Lisi are enjoying your time in California. Take care my friend. I always appreciate the information you bring to us. Blessings,Carlos ✝️🙏❤️😊🇺🇸
@Lisithedogwalker Ай бұрын
It’s all thanks to people like you Carlos that his videos get to be shared with those hundreds of people you mentioned. Because you are watching the videos on a daily basis, the YT algorithm understands that it is a good video and start to share with new people all over the world 🙏 I read your comment to him, and he is very happy that you are still here with us but mostly very grateful to your support and care!💕❤️☺️🥰🙏
@ambertrethewey5251 Ай бұрын
I bought my house in 2015 for 180k in California. Acxorsing to reports my house is now worth 350k BUT the reality is if we sold our 3 5% interest rate house we'd never find another house to replace it in california at least not until things calm down.
@charlenewilliford6957 Ай бұрын
Enjoy seeing a bit of CA on your walks. All I see in our local market are price reductions on houses on stale listings.
@estuardo2985 Ай бұрын
In real estate they say "location! location! location!" but they forgot about "Prices! Prices! Prices!!!"
@jjred233 Ай бұрын
Yes, it is location. The prices should be in your range. If you can't afford the location then its not for you. Funny that people focus on monthly payments.
@andrewgleason586 Ай бұрын
@@estuardo2985 the location can dictate the price especially on the coast... prices are much higher near the ocean,I'm 2 miles from the ocean and my house continues to rise regardless
@lindylou3519 Ай бұрын
Prices increase even more, though, if it’s a prime/popular location.
@richardadams6988 Ай бұрын
Hahaha that's a good one
@MichaelBordenaro Ай бұрын
We’ve Been IN A RECESSION FOR 5 YEARS! kzfaq.info/get/bejne/o7F_q71ezaq4dWQ.html
@davidcrowson4745 Ай бұрын
Grow your beard back.
@Singlesix6 Ай бұрын
All the people I know who have sold or bought a house this year used a lawyer, not an agent. Do private sales show up in the numbers you get from NAR?
@ispep8882 Ай бұрын
Just paid a $4700 deductible on a hail damage roof replacement. Tree fell through my vinyl privacy fence. Insurance will only pay for two panels that I can’t find a replacement for. New fence costs $12,000. Had chimney cleaned and sealed and heat shield installed. $4,000. Need new chimney caps and bricks replaced due to spalling and tuck pointing done for two chimneys. $7,500. Owning a home and the maintenance is a bitch.
@BREEZYM6015 Ай бұрын
That's a lot to have to repair. I own a townhome that doesn't have a chimney or a fence. Good for me I guess.
@scottmcamis2127 Ай бұрын
It is not the interst rates, it is the friggn prices!
@mf-db6nm Ай бұрын
it the interest rates and low wages
@LegaleinsaneAB0510 Ай бұрын
Not sure if owning a home is worth it at all anymore. Renting seems cheaper after maintenance and repairs either way you cut it (paying for repairs or spending time diy).
@allisonfrank9940 Ай бұрын
But here in Asheville, NC, housing prices are skyrocketing. Yesterday, a friend put her 1400 square foot, 3 bed/1.5 bath, 20 year old house on the market for $980,000. And she's expecting a bidding war. Last week, another friend sold her fixer upper for $438,000. No inventory here. 67,000 new people moved here in the last 4 years.
@lindylou3519 Ай бұрын
Yep. My daughter & son in law live in Hendersonville, 40 min from Asheville. I want to move there so bad but cant afford to because what I would get for my house here would cost me another $100k there, IF you can find one for sale. 😢(a lot of Floridians are moving there)
@allisonfrank9940 Ай бұрын
@@lindylou3519 Ashevillians who've lived here for a while are moving out. The crime is horrible, housing unaffordable, politicians catering to rich tourists and no one can afford restaurant eating. This place is a drunken Disneyworld.
@lindylou3519 Ай бұрын
@@allisonfrank9940that’s what I hear. Love little Hendersonville, though. Brevard seems really nice, too.
@davecohn6407 Ай бұрын
If prices go down 60% , then it will approach the worst year . But just because buyers are refusing to outbid each other and just because inventory is increasing rapidly does not translate to a real estate disaster .Prices are still higher than 2019
@stanmarcusgtv Ай бұрын
for homes to become affordable the housing market has to correct hugely - when homes were most affordable mortgages required 50% down and had to be paid off in 5 years the NRA and speculators have destroyed the housing market
@garrettm5162 Ай бұрын
Look at New Mexico. Everything you are saying doesn't hold a candle to the craziness here. You have to be rich to live here.
@CorporateShill66 Ай бұрын
New Mexico median price 350k. Huh
@nogames8982 Ай бұрын
You have to be rich to live a lot of places in this country.
@michaelhatfield5808 Ай бұрын
Not true in the east and SE. Dramatically different compared to Santa Fe, for example. You do have to be rich to live there.
@mf-db6nm Ай бұрын
Montana too
@teddyhammer2558 23 күн бұрын
Try the Boston area. If houses were 350k here I would already own one. My job is here though and there is nothing in a 50 mile radius in the city that is close to affordable when you add in 7% yearly interest.
@nogames8982 Ай бұрын
Friend of mine is selling their house. They just put it on the market on Wednesday. The market is still decent here so it’ll sell quick. It’s a two bed one bath 800 square-foot house in a good neighborhood. But I was absolutely shocked at the price that the realtor said they were going to list itt. Looks like they backed it down about 40,000 from what they were originally going to list. But I will be very interested to see what it sells for.
@lorischamay1634 Ай бұрын
I bought my first house in 1989 at 9.5% on a 5/1 ARM. Was later in the mortgage business for 20 yrs. Long-term 30-yr fixed rates around 6% would not surprise me at all. Bob S.
@teddyhammer2558 23 күн бұрын
Conveniently leaving out the cost of your home compared to income. For me every house is ten times my income without including the 7% in annual interest. Soooo
@lorischamay1634 22 күн бұрын
@@teddyhammer2558 Lordy, we made about nothing 1 & 3 yrs out of college - $55k in combined income & a $120k home. Am 60 now (retired at 53) & we went on to make significant income & r multi-millionaires now. Bob S.
@errolcarter3741 Ай бұрын
Michael, loved your video. in response to the rising median price of homes due to the $500,000 and upward sales. Here in DC, what we've seen in Montgomery County, MD., is homes $500,000 and upwards being purchased by foreign nationals who pool their money, put multiple names on mortgage which artificially drives up prices. This approach to home buying is similar to the late 90s when newly arrived H1B workers arrived in Northern NJ and were driving up the price of rentals ($500 and more over price).
@qj8933 Ай бұрын
The same companies promoting all these price increases are the same ones with vested interests in real estate. Its unfortunate that these bias groups are the same ones in charge of listings on various websites. Theyll all be dumbstruck in the end when it all falls apart before their eyes, kind of reminds me of the last GFC.
@vanmasterflash7153 Ай бұрын
Non-adjusted wages are going down. Especially low paying jobs.
@naoumhalamoutis1960 Ай бұрын
Buyers or should I say investors are on the side line waiting.
@aronrodrigues Ай бұрын
Investors just buy if the numbers are good. If rents drop half of investors will have to sell the properties will not be profitable anymore. I really don’t understand why investors buy in California as the caprate is terrible
@JoshuaCyberNerd Ай бұрын
Im a buyer and this is me
@Francisco-po1cf Ай бұрын
5:00 it’s also “false sense of hope” to believe a big crash is going to happen in your favor.
@montacute7012 Ай бұрын
We have been hearing it for YEARS and YEARS. I give up.
@largol33t1 Ай бұрын
Michael, I have seen condos selling for a whopping $200,000 and all of them are a pitiful 800 sq ft and no, you don't get a garage with any of them. And ALL of them demand you pay $200 a MONTH in "HOA fees." That has kept me from buying a house for four years. We are going to see a homeless epidemic that will make the Great Depression look like a nice time. Oh, and with Bidenflation making it hard for me to afford gas and groceries, I sure won't be able to afford a house for the next 4-5 years.
@calvinreichelderfer7989 Ай бұрын
All the properties in my area seem to be selling quickly. Many in less than a month. Even land without houses are sold fast
@jongonegone1262 Ай бұрын
there sleeping in there cars, over in the saw grass mall parking lot. security is layed off.
@Lzappa Ай бұрын
Interest rates need to go higher double digit amd stay high for 5-10 years. It needs to cost more to borrow money, Americans and our government need to slow down our spending and borrowing. This system is unsustainable. We need to knuckle down go through the pain if we want a future.
@JohnDoe-np3zk Ай бұрын
Walk it off.
@Resmith18SR Ай бұрын
Never happening. Wall Street cronies could care less about Main Street and middle class and poor Americans struggling with inflation. They want to go back to ZIRP and lower rates to 0 or negative so they can borrow money for free or cheap. Keeping rates where they are or higher encourages people to invest in T-Bills or CDs and not in their gambling playground, the Stock market
@TheSuperdodgy Ай бұрын
@@Resmith18SR You know higher rates equals higher returns right?
@hvaball150 Ай бұрын
Unlikely to happen. We did that in early 1980s. We were told to not do it again. We have not. It really hurts those countries. They will stop playing ball.
@Resmith18SR Ай бұрын
@@TheSuperdodgy So lower them back to 0 or negative so Wall Street can borrow for free, right?
@MM-ig2zq Ай бұрын
Miami and Broward county good neighborhoods the longer you wait the more money you will pay. It cost me over one hundred grand more to buy because I waited for the fall. Ask this guy how’s the market where he lives in Miami Beach.
@Billy97ify Ай бұрын
Homeowners will be wishing there were more investors to make offers when they need to sell. The investors have evaporated since the deal just doesn't work anymore.
@FloridaMan23 Ай бұрын
Florida housing market is a mess. Rates over 7% and builders inventory taking longer to move even with rate buy downs
@marknewton6984 Ай бұрын
Still they move here!
@RomanVarl Ай бұрын
Rates going down will not sustain the bubble
@dertythegrower Ай бұрын
lowering rates will improve sales but lower prices is now about to happen... its gotta deflate eventually
@jkmarshall3553 Ай бұрын
@@dertythegrower Well lower rates aren't going to help push home prices lower any time soon give it will only act to make a monthly payment lower.
@bunnspecial Ай бұрын
The cure for high housing prices is high housing prices. People will have to sell. Unless the market is propped up, no one will buy so prices will go down. Maybe the FED is going to give BlackRock some cheap money to keep the inventory low.
@efraincorpus8777 Ай бұрын
I might be off topic here, What trips me out right now is that I'm renting and I was asked 2X the rent last year, which is doable in my case but now they want to go to 3.5X the rent which is really ridiculous because I'm short $100 to qualify but I can still make the rent at even 3X ...I don't understand why or what this X times of rent means.
@s99614 Ай бұрын
The rent is too damn high!
@dertythegrower Ай бұрын
that meme needs to be brought back.. hugely
@steelisthemeal Ай бұрын
True
@jkmarshall3553 Ай бұрын
I "seen" that!
@BREEZYM6015 Ай бұрын
Now where have I heard that before?
@jimcrawford3185 Ай бұрын
That s a switch
@Resmith18SR Ай бұрын
I used to visit Sausalito when I lived in the S.F. Bay Area. The prices there for rent and homes there must be astronomical now. How do people that work for minimum wage like service workers and baristas afford to live even near Sausalito?
@iworkout6912 Ай бұрын
They can't..The area doesn't look as wealthy as some of the areas Michael walks in. Some of the buildings need some TLC.
@Resmith18SR Ай бұрын
@@iworkout6912 Sausalito and Tiburon are two of the wealthiest suburbs in the S.F. Bay Area and Marin County. Just saw a listing for a 700 sq. 1 bedroom condo in Sausalito for $775,000. That's cheap?
@marknewton6984 Ай бұрын
They can't. 😮
@Billy97ify Ай бұрын
Likely prices will drop very slowly with very few sales. The whole deal is unworkable but nobody wants to take the hit. It could take a decade.
@dcarter001 Ай бұрын
I have driven by shopping centers here in Central Texas , there are so many store fronts empty, for over the last few years. It's a rare evening that you have to wait for a table at the restaurants. the economy is not doing as well as its touted.
@tizzx4945 Ай бұрын
Prices are just too high and overvalued in a lot of marktes out there! If people would price their homes more properly, maybe more buyers would be attracted to buy in this market!
@CMBBmc-jd6ur Ай бұрын
If people priced their homes real low, they would not be able to buy another home. Understand the US is not (YET) a socialist/communist society. Be thankful of that. And take Econ 101 online for gawd sakes.
@coolnoob5508 Ай бұрын
Just knock a zero off the right side of the cost of a home and we will add ourselves to the list of potential home buyers
@Seeingisntbelieving Ай бұрын
😂😂😂sign me up for 2 or 3
@steelisthemeal Ай бұрын
Ok knock one off & add 3 😃$$$$
@BREEZYM6015 Ай бұрын
Only one zero? 😂
@CMBBmc-jd6ur Ай бұрын
In the near future you’ll have zeros knocked of your paycheck, be given UBI, a Social Credit Score, and be locked into 15-minute cities. Due to your willful ignorance and avarice.
@speedracer2336 Ай бұрын
Joeys 7 percent interest rate, plus rising home and auto insurance, taxes, that’s 3 to 4K payment per month!
@PatamaGomutbutra Ай бұрын
The median price is not real median it is deviate to what only super wealthy play on luxury property not ordinary houses.Even increasing invebtories of lower end price in my area-WA it still 50% costly than renting and people are lays off elswhere. I do think as long as people wish rate cut,there will no rate cut.
@dje-slick6890 Ай бұрын
Cap Property Taxes !!
@justinallport9789 Ай бұрын
Asking prices are to Damn High"
@augustcanyon3438 Ай бұрын
I was in mortgage operations and most businesses are closing because no one is really buying; I’ve heard of real estate agents are also looking for jobs because of a lack of clients.
@fergman300 Ай бұрын
Once all these homes sell at such an inflated rate, won’t that set the bar for all real estate moving forward. Like a market bottom that will push to new higher highs in the future.
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