Secrets of the Debt Bubble and WHY it's FINALLY Bursting kzfaq.info/get/bejne/erCbas-BurComWQ.html

$8,000 x 12 = $96,000 per year to RENT !!! That’s the definition of insanity

I'd only buy a home at price pre pandemic price. I will not pay double what house sold for 2 years ago

everybody acts like 6 to 8% is so high that's because it was down to 3%, which was unbelievable low of all time 6 to 8% is pretty much average they've had percentages over 11 12 or more

Remember this .. EVERYBODY is “WAITING” therefore when that time comes when everyone is ready to buy. Those bidding wars are gonna be CRAZY.

hi michael . derek in the UK . IM RETIRED ' a House is meant to be a Home ' with Small increase in value over MANY Years . while living within your means . these CRAZY LOW Interest rates has caused a LOT OF GREED And exploitation . and rent Anxiety . by low life advantage takers . YES We need high rates long OVERDUE . AT LEAST IT WILL GET RID OF THE CHANCERS '' .. TO Clear the market for honest Buyers living within means ....

You've become one of my favorite go to videos because it always like a conversation and you keep it personal with your viewers Thank you

most sellers where I'm looking now bought in last 2 years. and are trying to cash in at way inflated prices. not this guy. that's how you get stuck don't get sucked in remain calm let the buyers and banks that over paid bear the burden. patience my friends

why should the homeowners all reduce their prices because the FED is ripping everybody off and putting the interest rates up I think a lot of the homeowners aren't going to sell their houses they got too much invested in them with the expenses of everything today

I love how Michael Walks casually past a house for rent and his vibe is like, wtf? You are crazy for asking for that, what’s wrong with you? If I saw him walking down my street I would totally hide my sign 😂🤣🤣 love your straight forward honesty!

Who is renting a house 🏠 in that area for $8000. Crazy 🤪

Your channel is the best and most down to earth regarding Florida real estate. Thank you so much. So smart.

I like the walk and talk vlogs...allow viewers to see the different areas. Houses have doubled and tripled in price in the last few years due to low interest rates. Many buyers are uneducated about home values and sellers are delusional. Buyers need to find out what the sellers paid for the house and do their research rather than just looking at the monthly mortgage payment. Houses need to come down way more than 30%! Prices went up 100-200%!

In the early 2000's we bought our third successive home in downtown Lake Worth for $200,000. A cool loft style home with spacious separate guest house, beautiful lush tropical grounds on a fenced in corner lot, redone two car garage and a beautiful inground pool. We sold it 3 years later for $270,000. Then the crash happened and it sold a year later for $70,000. I remember talking to several realtors and they all insisted that property values would never plummet in South Florida.

Michael, we living in very uncertain times. Even if the house prices come down 20-30% I would still wait to see where the economy as a whole is going. You don't want to be in a situation where you bought a cheaper house and now you just lost your job and won't be able to pay your mortgage.

Michael, I am all for holding physical gold and I have done so since the 2008 financial crisis - to a limited degree and as disaster insurance, not for investment purposes. And just as you try to educate people on house buying, you should also talk about the pros and cons of precious metals. Buying gold for the sake of buying gold is not a good approach, and people need to understand why that may be.

Your commitment to truth is greatly appreciated.

I know a few agents down in ft meyers and Naples. According to them, a lot of their buyers have dropped out due to the hurricane and their sellers are nervous.

I’m starting to see a couple of the houses that I labeled “favorite “ back in 2020/2021 come back on the marker. I think there’s a lot of buyers remorse. One of my favorite houses that sold in December 2021 is up for sale since September 2022. It’s selling for $15k more then what it was for in December 2021. So it sounds like they are gonna be selling at a loss when it’s all said and done. Plus they are willing to abandon their 3% interest.

I'm in Palm Beach county and the prices haven't fallen much here for average sized homes around the 600k mark. Hopefully a lot of these sellers realize that they need to start aggressively lowering their prices or else the property will just sit on the market as new homes get listed. I flat out refuse to pay 30%-40% more than what the house was worth 2 years ago.

My philosophy about the housing market since it got stupid has been,..''it is a seller's right to put any price they want on their house,.....and,.....it is my right to tell them 'screw you''.

Who would buy a home with an inflated value relative to market realities and historically high financing?

Buying a house. I remember we here in Denver in the late 80s our housing market was in a free fall. So I waited and waited until I finally found a house for 46,000.00. At 8 percent interest my payment was 420. A month. So I will do the same this time. I will wait until the right time. I think this bubble just started to bust.

I very much enjoy your '' roaming '' reports. Catch them everyday.

Pay a higher rent over a mortgage because you can always buy a home and get out of a rental. If you buy high you are STUCK WITH YOUR HOUSE because nobody will buy it at the price you paid later down the road when the market drops..

going to be alot of pandemic FOMO buyers and banks, with big regrets that paid 30%-100% more then prices WERE 2 years ago

I make a little under 120K, I have 85K for a DP and $$ for closing. I almost bought a house in Bradenton for 429K back in late July (4/2/pool) I backed out due to termites and a soft roof. Now, I don’t want to look at anything over 400K! Prices are just too far out of control. Love your vids 💜

1980’s when the interest rates were at 19% - the home prices did not drop. Sale took a drip but the value of home did not. What makes you think it will be any different at 7% interest? The best time to buy is when you can afford to.

You provide a valuable service and you have a kind way of putting things. I hope the 41 year old realizes you can't fix bad results w/ bad decisions. No shame taking a loss and reflecting vs forcing. If you have to force anything 9/10 it will give unfavorable results. I am learning a lot w/ your channel and happy to see the greed that makes finding a place unpleasant come back to bite the owners who created it.

We have been through everything. 2008, job loss , retirement loss. Built back up. Bought high. Sold low. Just feel there is no predicting life. Just do what you want, when you can! Life is a rollerball my friend

Glad your channel is a place where we can all come for good, solid real estate information! Your “walk and talks” are your signature! We all enjoy the thoughtful information and the beautiful surroundings, a Michael! 😊

I appreciate you being THOROUGH with providing links for reference instead of just telling people to buy precious metals. Thank you.

I admire your honesty, how awake you are to what is going on, and thank you for mentioning gold and silver. We are in the Great Awakening and our new money system will be backed by gold and silver. We need to buy this as soon as possible. Changes are happening fast.

That house in Ocean Shores has a window A/C sticking out of the front of the facade (LOL)........

It's not the rates that are crazy. It's the prices.

Michael, your videos are like a perfect picture that reflects what we are living day by day as as Nation. Keep up the good work, you Rock!!!

It's easy for a landlord to raise rent while he has a tenant as the tenant is reluctant to leave due to the high costs associated with moving. However, once they raise rent above a certain point that tenant may leave, causing a $0 cash flow for the landlord as he scrambles to find another tenant. Someone looking to rent is not going to invest in expensive moving costs to move to a place where rent is excessive; they will be bargain hunting. Due to the high cost of living, many renters will share living space, forcing rental demand down along with rental prices. What we are seeing now is the beginning of falling rents; which will be exacerbated by massive layoffs and higher inflation. Buying real estate now is like being a deer in the headlights. Real estate has a long way to fall and even after the Fed pivots, it will continue to fall for years, just like it did from 2008-2012 after the Fed pivoted. If you're renting now, your best bet is to continue renting. Don't worry about rental price being higher than "buying" cost. You will still be far ahead if you continue to rent. Remember, when you buy a house, you are still renting. You are renting the money from the bank to buy the house, but as the price of that house falls, you will be stuck paying high rent on a collapsing asset. Putting your money into gold & silver is smart, especially at these prices. When the Fed pivots, gold & silver will skyrocket, just like it did from 2008-2012, where it more than doubled after the Fed pivoted. Anything purchased with credit (stocks, real estate, auto's, crypto) will collapse while real commodities (gold, silver, food, energy, etc.) will skyrocket. If you have a good amount of money in gold & silver when real estate finds a bottom, you will be in a power position to buy real estate.

who in their right mind would rent a pos looking property for 8k like the one shown in miami shores? These people are nuts.

Why would prices come down? Supply and demand basics.. and higher rates kllls not only demand, but supply..

I was fortunate enough to purchase a home with cash... kickin' these interest rates to the curb!

I was going to upgrade my Florida condo (2nd home) to a home to eventually use for our retirement home. The prudent thing to do is wait at this point. I am, however, still going to open houses to scout out areas for a future purchase. I find it interesting how the agents are still trying their best to convince me that the outrageous current prices will result in quick sales… 6 open houses later…

For the 40 year old looking to buy / start a family.....be carful....be VERY carful. Housing is already expensive and kids are INSANELY expensive. Have you seen the cost of a box of diapers lately? Or baby formula (if you can even find it?!) Last thing you want is to end up living in your car with an infant and I remember seeing families with young children lose their homes during the last recession. So please, just be carful.

I just checked the rent for the apartment I lived in last year in California….the Rent is up $500 For that same unit. So far it is not coming down. (Now I live in the South and bought a house…I got in right before interest started going up….good timing.)

That's crazy to pay $ 8000 a month

I can't believe the prices to rent or buy in Miami!

I live in San Diego. Several homes in my neighborhood have been on the rental market for a few months. Occasionally they lower the price. Many just stay, some like my neighbor, removed the home from the market. I simply wonder if it's some kind of conspiracy of realtors hoping to manipulate the market. I don't think it will work well in the long term, eventually they will all panic and start renting out with a discount or selling,

In Miami rent is skyrocketing. Even with 10% it still cheaper to buy than to rent if it’s primary residence. Even for snowbirds living just for few months on and off it still cheaper to buy than to rent.

Gold and silver inexpensive? But premiums are through the roof so no, gold and silver are not expensive. Arguably they are more expensive than a year ago. I know I paid less for silver eagles a year ago.

I’ve been playing the waiting game. Seeing good new construction homes dropping 50k + or more. Patience will pay off

fomo pandemic panic buyers bought based on payments not on price. which was wrong

I went to a Mobile Home Park that I used to live in until sold. When I inquired about buying a mobile home. The manager informed me that everything was 15,000 dollars and up. So I inquired about renting a space for a travel trailer that I was going to buy for 10,000 dollars cash. I have 12,000 in liquidity. He said that the Park doesn't rent spaces, but that he had around 6 Mobile homes for sale for 10,000 dollars. Hmmm. Coincidence?

I just sold my house and now have to move . I put in 3 bids on houses but fell through because of inspections I’m not crazy to buy it with that high interest n cost . My lender is getting mad at me for backing out . Said now I can’t lock my rate in until after option period so sellers aren’t wanting to budge on price or fix things I think I’m gonna hold on to my money from sale I’d hiuse n go rent for 6 months 3 bd 2 bath garage with internet duplex for 1150 then pay 1850 for a house I can’t refinance for a while

I had placed an offer on a house back in July during the inspection water fell in. But I just received a market value on the house and it lost equity less then what I was purchasing for. I haven't seen that happened here in NJ this is the first I've seen the home losing its cost of purchase. Crazy what you said is happening 😳😳😳 thank goodness I did go forward with the house

I thank my lucky stars that I was able to sell my 2 BR 2 Bath house in Desert Hot Springs, CA back in February. I did well and was able to buy a nice condo in Clearwater, FL. If I'd waited any longer, I wouldn't have done very well.

Rates need to return to hostorical norms of 5 to 6%. Savers need to be put back in the driver's seat, govt needs to cut back on spending.

Thank you for always showing us the real world view. These so-called experts don't get out of the bubble they're in.

Michael you are right is not income tax, but we have some of the highest property taxes and insurance in the country. Income tax is only 4% to 8% depending on the state. Between the pricing of real estate, insurance and Property taxes that is way to high it make it worse that if I paid income tax. That is actually a fact. I prefer to pay income tax, then ridiculous, home prices, ridiculous property tax and more then ridiculous insurance prices.

Thanks for this. It is crazy to buy right now... but with a growing family, rent increase and inflation.. it makes it hard on families like my own. Don't want to rent but also don't want to buy at these prices. Stuck with renting and trying to save for now... second baby coming next year.

Rent in Bradenton and Sarasota has increased again this week . Apartment complexes are continue to raise

If people think that can buy at the peak, pay the new taxes and insurance and transitional costs, then rent to someone for what it takes to be in the black, they have another thing coming. Lots of empty homes across south Florida.

I don't know. Until inventory stablizes over 6 months home prices will stay elevated. Right now we are nowhwere near that and if you bought in the last few years and are locked in at 3% you are not selling so invetory will stay low which will keep prices high. they will come down some sure but I just don't see the 20-30 percent down many are hoping for.

Some times you cant reason with the Sellers/Landlord so you let the market teach them!

39 degrees in Rochester NY today. Burr!!

We close on our home in early December. We are relocating to San Antonio due to job changes and family. We are shopping for our new home in SA and may need to wait for prices to drop. We are trying to be patient. We are ok to rent for a few months.

Florida has canals and ponds that flood.I am buying water proof and baggie my most precious items before I relocate to Florida.❤Florida lifestyle

I bought oil companies last year. Up over 30%. Paying a dividend.

I enjoy your videos Michael. I’m a palm tree lover. Living in Orlando FL since 1992, I have many tropical palms. I cover them during a freeze. The Miami homes are so old, and way outdated. Barely a one car garage, and overhead power lines is something Miami can keep. I’ll enjoy my Orlando home 3 car garage, power lines underground, flooding is never an issue, and never lost power since my home was built in 2002. The beach is great, but no thanks living there. Keep doing your videos. I really think you do a great job showing the landscape in south Florida!

Too many variables pointing to prices going down: Mortgage rates, Insurance rates, Property Tax rates...

It’s the perfect time to buy. If you’re buying a home like an investment then it’s never the right time bc you’re just looking at the future profit. If that’s the sum total of your life then more power to ya.

Trying to sell our, pocket listing, we will list it in the spring on mls, crazy, yah, but if we don't get a CA transplant with a bout load of equity, we will be trapped in this house, no mortgage, no debt, very nice portfolio, plenty of cash, so we are not desperate, just don't want to be here while RE drops 30-40% over the next 2yrs, we will move and rent, then buy when prices bottom.

Lol…8k? That’s insane and I live in California. You’re right, two bedrooms , you can rent along the delta - on the water- in California for a bigger house that’s far less than 8k a month. Dang! Shocking prices you’re showing. Wanted to buy an ocean investment property in florida, glad I didn’t. We will wait.

It would be very great to buy the perfect home or property that is within your budget, regardless of where the rates are at. But these home prices are driving the demand to go down. Appreciate your insights, man!

I take a very centrist position here...is the market over priced and due for a correction? Yes. Will I stop shopping for a house? No. It is still possible to find deals in this market, and especially if you can get seller financing. Run the numbers, if it makes financial sense, don't be afraid to pull the trigger.

I live in Hawaii. It has cooled a bit but prices aren’t dropping here at all. Only pricing that was too high priced has come back to reductions but prices are still up up up Some areas will never be hit as hard due to location. Inventory. Perceived value weighing all things

Houses are stationary on price at central Florida. Places like Clearmont are really living on a bubble thinking that their houses are in the 600k range.

I think the intelligent investor or home buyer would buy exactly now. Negotiate a great deal because you have NO competition

In Massachusetts if the house is any good it’s flying off the market. Thanks his state seems different from most other places.

I always felt it was too much. Most homes where I live cost too much, and they look like the owners didn't keep them up and want a lot of money. It's horrible in bowie, Md.

That’s a 100k house on a good day in most small Midwest towns !!

I’m inland in Fort Myers 25 min from Fort Myers beaches and I didn’t get flooded .

The owner of a house down the street failed selling their house for double the price they paid in 2019, and now they can't rent it at the stupidly inflated price they're asking. Between both failures it's been sitting empty for about 8 months now. I wonder, do they have more dollars than sense or is the realty company telling them to keep their asking price higher than people are willing to pay? If it's the realty company they need to be fired.

I really think they need to make a fraud panel for the PPP loans that went out. i know someone who got PPP loans then bought real estate. there are some fraud cases coming out where u live of realtors claiming to be self employed making 300 dollars and hour and getting massive ppp loans then buyer properties.

I have a job offer in central Oahu Hawaii, and after checking out the housing market in that area a decent house is about $1.4 million. Although I can put a large down payment towards a home there I feel nervous buying one when it seems that area is really overpriced, and the home prices are going down. I'd like to take the job but think I'll turn it down due to the HI housing situation right now.

I say we all throw in the towel so to speak and come out to the streets forget paying them , everyone can be rich we will make our own food and utilities and find water, just like in the beginning, if they triple prices of the houses and rent again. If rent was a thousand now and next month 4,000 yeah we all gotta do something.

Happy Tuesday Michael!

Rents are still high by me, stuck in my apartment until something changes in the market 😑

Those house prices gotta come down to what average household income is.

People wishing for 30% reduction are not realistic in most markets. This is not 2008. Unless the job market starts laying off a massive number of people, the price will not drop 30% in most markets. The inventory is very low now and banks are very conservative in granting loans. So, we do not have the bad loans from 2008. I have a rental property for sale now and there are only about 15 comparable homes in my area. Prices have dropped, but the prices were too high to start with, rather than a situation where people are having a fire sale. Also, people who say they will buy when price drops 30% never end up buying. If prices drop 30% they believe the prices will continue to drop. I see it many times. 10 years later, they never bought anything.

Just bought a house in Palm Coast last week, and couldn't be happier. The right house, in the right place, at the right price, at the right time. Leaving Southern California for good!

Only in Florida. Where houses are ridiculously overpriced and places like Florida.

There are some people who do not need to rent their 2nd place. They are only listing it to see if there are any takers at their price point.

IT DOESN'T HURT to try to negotiate with a seller 30% off the price. Think about it, sellers are clearly having a hard time selling now. So why not try right now negotiate

I’m retired bought nice place in Colorado 6 yrs ago 56.000, my 401 k is paying my house. Thanks again for your advice Colorado Silverback777 Stay Healthy keep stacking.

I'm Looking to build in next 3 years. I Have the land, where do you see construction costs going nationally in next couple of years?

Adding my vote, You would have to be crazy to buy a home now.

Also it seems pretty dangerous to swim in Florida outside a swimming pool. Some pretty ugly microbes in the water. Kill you pretty fast. Sharks too. Red tide.

looking at gold and silver as savings is a pretty good way....and you're right it's not really so much an investment....i see it more like an insurance policy against a depression or worse

The only thing that makes sense right now is buying for keeps. You can always refinance if you found your forever home. Thanks for your honest feedback ❤

I was in the 47%

Great video as always! You should do a poll of who is currently living in their own place, renting, share renting/ living with friends, or living with family/parents etc.