We're in Uncharted Financial Territory! Every day, we face obstacles that have become the new norm. Although it was initially viewed as a crisis, we now recognize it as the new normal and must adapt accordingly. Given the country's present economic troubles in 2023, how can we increase our revenues during this period of adjustment? I cannot let my $800K savings disappear after putting in so much effort to build them.
In general, it's a good idea to keep some of your gold holdings. Given the current economic and financial situations, it would be wise to temporarily steer clear of stocks, or it might even be wiser to seek advice from an expert.
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about a year.
@@josephgaviota I know that they not all the same but as long as Mitch McConnell is the Republican leader then it’s a sad story for all good people in this country especially the Republican Voters.
For the sake of national security the government should confiscate these properties that China has bought and give them fair value. Cutting all aid to Ukraine and other countries would pay for that.
@demigod1013 No, it's called corruption. Our so-called government is selling our country to our enemies. Try buying land in an enemy country as an American...
If you're experiencing challenges like affording food, being unable to move from your home, facing car expenses, watching your paycheck decrease daily, and you voted for Biden, you are to blame!.
Well if we’re being honest with ourselves it doesn’t all completely fall on Biden. Remember, Trump gave out stimulus checks too and that means the Federal Reserve was printing free money which drives up inflation. He also paused interest on student loan repayment which will negatively affect inflation as well. And also the Feds raise interest rates in response to trying to lower inflation. The interest rates under Reagan were ridiculously high but it was in response to bring down inflation brought on by the Carter administration. Things you can blame Biden for are. Not drilling for oil which has severely driven up fuel, energy and food costs. Sending billions of tax money to Ukraine and foreign countries. Overspending and driving up the national deficit. And not following through with the student loan debt forgiveness that he promised during his campaign. Those are all things that he directly impacted but Federal Reserve interest rates aren’t really his decision to make.
i have a 3% mortgage and id like to move, but like Payne says, yeah most home owners are trapped in our homes by our mortgage rates. im not complaining, obviously im privileged to be a home owner, but i wish mortgage rates were still low. i really feel sorry for young americans that have no hope of home ownership in Bidens america. even if you're paying cash in full for a very cheap $150k home, it will take a while for a dude making 50k to save up that much money, especially while paying crazy high rent prices which will only keep rising. Bidenomics is great isnt it...
yeah i know, i just try to stay humble. being born in America in itself makes all of us incredibly privileged. i could be in a Cobalt mine in the Congo swinging a hammer for $1 a day, and im grateful im not@@ohyeah11000 . i just try to maintain perspective and realize that so many people worldwide are way worse off than even the poorest americans.
@@terrencekane8203 Out of line comment, Big Gov made a reasonable point. Telling him to go to a Communist country doesn't address the policy failures of this admin. He was merely pointing out their real world impact on the citizenry.
And they had homes in Trump's America??? 🤡 You think that high mortgages and the cost of rental units are NOT related? That makes you an id!ot. Most low to middle income people right now would be happy having any kind of affordable housing/rental units available. We need development in affordable housing, not more condos.
My son sold his house that he was paying 2.75% he thought he would buy a comparable priced home in near me. At 7% he couldn’t afford the mortgage payment. $160 to fill my pick up last week.
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded. My wife's insulin is now affordable and everyone we know has a job if not two.....life is great 😊
yep, i have a 3% mortgage and id like to move but it just doesnt make financial sense unless i buy a house thats like 100k cheaper, i live way more frugally and pay as much towards the mortgage each month as possible.
@@Chris-n2f9mMy oldest adult son has two full time jobs. It’s work and sleep. I told him to make hay while the sun shines because BidenInflation is here to stay. The Democrat agenda is ruining the USA. Our grandchildren will be living a lower standard of living than I did.
yes democrats, republicans, independents all have to eat this cake. Something has to change next year. If you like these prices then you can vote for joe but if you want low prices you need to vote Trump. Drill Baby Drill.
@@fionarobertson8841he'd still do a better job running this country from behind bars then joe could ever do from the White House. Now about that comment.....you might wanna reign in your inner stalinist a bit there.
@@fionarobertson8841 Trump can and will win from behind bars. The Constitution doesn't prevent it. Every American sees right through the third-world political witch hunt. Democrats are terrified about actually having to defeat him at the polls, because without covid as a cover it's going to be much harder to flip a few key counties.
Absolutely. We (western society) have been, for generations, desperately looking to soothe ourselves by saying “now that we are past that, it’s gonna be smooth sailing from here on out”. It’s no beneficial and never true.
Eight % is not so terrible if you could purchase a nice home for $80,000. I bought a 3500sq' house in 1972 for $42,000 on 7 acres. That same house today sells for $950,000. How did inflation get so out of control? The Bible says in the last days a loaf of bread will cost a days wages. In 1965 a loaf of bread was 25 cents.
@@fytghggyungf7601 well no actually a loaf in California is $4.03 and the minimum wage is $15 per hour. That is almost 27 percent of your hourly wage compared to .25 cents and $1.25 hourly which is only 20 percent of your hourly wage. We also pay higher taxes now than we did in 1965 so you are taking home less of that $15 an hour.
This is the problem. Not Biden. He’s apart of the problem like every other president. Too much money was injected into the economy, rates were too low and there is no tax blow or barriers to keeping investors out. If rates go lower we will have another rush in the market. They have to stay high until inventory grows to keep investors out
My parents went in to try and buy a new vehicle and they wanted to sell it to them for $7,000 over MSRP this economy is an absolute disgrace Biden needs to go now!
My first mortgage rate in 1991 was 9.90% BUT that first house of mine was only $77,000. Very doable back then because of the price of the house. Our total income was probably about $27k per year. The house payment was in the low 700’s including taxes and insurance. Income up to now has never caught up while the cost of living has risen and the price of housing is insane. I predict a bust in home prices and values if nothing worse. It’s just not attainable for most and rent costs aren’t helping either.
Sone people are selling their homes, buying an RV, and paying off debt because they're wise enough to realize that they can't afford a mortgage on a new home
Raising rates is actually the best possible thing for strengthening/rebuilding the middle class. Low interest rates make it far, far easier for the already wealthy to compound their wealth and leave everyone else in the dust. There's nothing wrong with rates where they are, or even higher, it's just that we must wait for the underlying asset value to readjust to the new reality (which is quickly happening).
I voted for Trump but Don't blame Biden for interest rates. The FED lowered rates back after 2008/9 and caused the housing greed level to rise and rise for over a decade!!! ( And Trump was the one who told the Fed to lower rates..) But the sale prices are wayyy too high. I just heard an old lady say at my apartment complex, ""Oh G**, I sold my house for 450k and I only paid 200k... Oh My G**.. hahaha """ So, all we are looking at now is "normal interest" rate levels... But they are Still Low, historically speaking... If housing is unaffordable, its not because of a APR.. It is because of the Huge Sale prices. You people are not thinking clearly... But I will tell you why you are not talking about the high prices, because you are a benefactor of the run up in prices... And you are going to lose your behind when prices fall back to normal or the "historical trend". That's why 1/2 of the people are "hush-hush" on the subject. But just wait until prices fall back. Then people will come out of the woodwork and blame unaffordability on "normalized rates".. Just really stupid people. Drinking the coolaid. Look, low interest is GREAT IF home prices remained at the same level. But you only shoot yourself in the foot if low interest causes the sale prices to Bounce! Because when sale prices bounce, it causes insurance and tax and fee's to also bounce.. And even if an APR is "normal" at 7%, if the sale prices are low, the actual Dollars paid in interst is also no higher than 3% at a much high sale price because Dollars paid are a percentage of the sale price. BUt the key thing about lower sale prices(with normal rates), is that you can actually pay it off early and dodge all the interest. PLus when sale prices are High(relative to income), it hurts people entering the market and it slows the "trickle up" process for existing home owners. So, nobody really wins except the government and RE agents when sale prices are high. For the mathematical reasons I mentioned above, I think people are not getting the good deal that they "THINK" they are getting.. (by having a high sale price at low interest) Because low interest is only good if it does not cause the sale price to increase, but in housing Interest and sale prices are inversely related because of history, and plus affordability is based on monthly debt:income ratio. Its Monthly! It does not consider your retirement, which is what a 30year mortgage includes. Its just crazy what people are doing.
NONE of us have forgotten that Trump printed $7.4 TRILLION new dollars while unemployment was at 14.7%. That's a guarantee of inflation. Raising interest rates always comes when inflation takes off.
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded. My wife's insulin is now affordable and everyone we know has a job if not two......life is great 😊
Joe? Trump printed $7.4 TRILLION new dollars while productivity was on lock-down. Do you not know what causes inflation? It will take years to fix this.
I was a successful Loan officer. Then Biden took over. The owner of the company was a die hard liberal. We told him this would happen. He said it's better than Trump. Well, we went from 800 million in loans to less than 150 in about 1 yr. He has one employee now😂
Yep. Trump printed 7.4 TRILLION new dollars, while the economy was at a stand-still. Injecting anywhere NEAR that much cash causes inflation. Simple as that.
@@dereksmith6316 my pay has not gone up, my wife is now babysitting the neighbor's 2 year old (along with our own 2 kids) to supplement our income. im a truck driver and i make 85-90K per year but the money is just not even worth the paper it is printed on anymore
Interest rates are controlled by the Federal Reserve and if you actually WERE a successful loan officer which you’re obviously NOT you’d know that dmfk 😂😂😂
So where are all the liberal comments praising Joe`s successes? Yeah, didnt think so. Do think you could vote this next time on whats best for the country? Ya forkin iceholes!
THE KEY IS TO STOP UPSELLING YOUR HOMES KNUCKLEHEADS JUST BUY A HOUSE THAT IS GOOD FOR YOUR NEEDS PEOPLE NEED TO STOP HOUSE FLIPPING AND DRIVING PRICES UP
Same here, mine is 2.5 fixed, an these trolls that are possessed, an deceived will wake up one day. They deserve every rotten thing Bribin puts out, if we can only get him out.
Psychological barrier? 8% on these historically high home prices is a financial crisis. Wages are nowhere near keeping pace with housing costs. I have no clue how people are paying this...
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded. My wife's insulin is now affordable and everyone we know has a job if not two.....life is great 😊
This is off-topic, but I spent about a week in Rapid City back in 2000. Liked the city and remember being impressed by The Journey Museum. Was in and out of the city while visiting sites in the Black Mountains. Anyway, that's it.
Outrageous housing costs aren't just for the big cities anymore. Look at what a house costs in crapholes like Yakima WA, or the middle of nowhere in Wyoming, Nevada or Utah.
You can't move because there is nowhere to go. Sort of like that zillow commercial, a couple expecting a child, sold their house and left the house and the commercial ended. They can not buy another home. The market has frozen no one's selling, no one buying.
There’s some rental houses in my neighborhood that have been sitting for months vacant because the ridiculous rents. Also some homes that can’t sell for the high percentages.
No one talks about the fact that lowering interest rates to 2% is what caused this housing crisis because people are locked in with a low rate and will never sell their house now
Hardly -- inflation brought on by govt overspending is the reason you and many others can't afford a home. Keep voting for the big spenders & we'll keep reaping the ugly consequences.
All this is happening in Australia too - high interest rates , high inflation , high fuel costs , super high heating costs . A perfect storm to cripple the West .
I work for TD Bank- they offer a Home Equity loan which has a fixed rate, payment and term! Great option for folks who need cash for home repairs! 90% ltv and 30 year term $99 closing costs on primary residences. Approval Depends on credit and dti.
These past few years everything has gone insane. Homes, cars, food, fuel, insurance. Thankfully I have a home and my mortgage is less than a current 1 bedroom apartment in the area and yet still struggling. Can’t imagine what others are feeling.
even when mortgage rates were 3% so many americans were living paycheck to paycheck with no hopes of ever becoming a homeowner, now those people really have no chance, and their rents will only keep going up. people are going to have to move into cheaper rural places and buy 150k or less properties and live on rice and beans and put everything towards the mortgage.
Part of the problem is not learning any money management at home or in school….home economics when I was jr high and high school….that’s gone completely and yet kids these days all have debit/and credit cards…it’s crazy what has happened to our education system
yeah, personal finance and philosophy are 2 things lacking in most schools. i was lucky enough to go to a fairly large school and we had a whole class called "personal finance" where they taught Dave Ramsey curriculum and other important money management stuff. we also had home economics. i agree though, generally most schools these days dont teach any viable workforce skills, money management etc@@PatriciaMcCuen
Seven or 8% sounds pretty good I’m 62 I paid more than that The biggest difference is the price was a lot better. Inflation has destroyed the cost of housing.
Effective 10/1/23, I will not longer have my job working as a Home Inspector. We went from 30 inspections a week, to 6. It’s horrible. I HATE the LEFT.
@@joemoore2546 I am working as a Home Inspector until 10/1. The company i work for is going out of business, as the Housing market is a disaster in California. We went from $400,000 a year Gross Receipts 3 years ago, to under $100,000 predicted this year. 25 to 40 home inspections a week, to 6 this week.
Still the right thing to do. Keep the rates up. Slow the economy down. Bring back the really economy. Get rid of the bubbly economy. Reward the worker for his hourly wage.
And FDT for printing 7.4 TRILLION new dollars at a time when productivity was on lock down, and unemployment was 14.7%. We are fortunate that Trump's inflation was not 10 times worse.
@@BigKandRtv Basically what I'm reading is, we should blame DT for the Dinosaurs going extinct too right? Facts are facts, inflation and the economy took a dumpster dive when the corrupt gramps took office.
Biden has been a complete DISASTER
@@captaingoodguy And are late for state funerals.
HOWS UKRAINE GOING BORIS?....lol.
Keep crying. Biden will easily win 2024.
You should check the numbers. Then check macro charts & reevaluate your childish statement.
Not according to Karinge Jean PeeAir. She says Bidenomics is working. 🙄
We're in Uncharted Financial Territory! Every day, we face obstacles that have become the new norm. Although it was initially viewed as a crisis, we now recognize it as the new normal and must adapt accordingly. Given the country's present economic troubles in 2023, how can we increase our revenues during this period of adjustment? I cannot let my $800K savings disappear after putting in so much effort to build them.
In general, it's a good idea to keep some of your gold holdings. Given the current economic and financial situations, it would be wise to temporarily steer clear of stocks, or it might even be wiser to seek advice from an expert.
The uncertainties accompanying this present market is more reasons I have my daily investment decisions guided by a portfolio-coach seeing that their entire skillset is built around going long and short at the same time, both employing profit-oriented strategy and laying off risk as a hedge against the inevitable downtrends, coupled with the exclusive information/analysis, it's quite impossible not to outperform. Netted over $800k in return on investment, since using a coach for about a year.
@@trane85 I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is the professional that guides you?
credits to Colleen Rose Mccaffery, one of the best portfolio manager;s out there. she;s well known, you should look her up.
I discovered her internet page by searching her entire name, sent her an email, and booked a phone conversation; perhaps, she will respond.
Vote “Red” in November!
vote red or were all dead
Tell me what’s the difference 😢
@@JoJo-wd3dq _Tell me what’s the difference _
It's not the FAILED policies of the (D) people. Isn't that enough?
@@josephgaviota I know that they not all the same but as long as Mitch McConnell is the Republican leader then it’s a sad story for all good people in this country especially the Republican Voters.
@@JoJo-wd3dq The turtle is no longer useful. Stopping Garland as SCOTUS was a good thing, though.
China is buying complete blocks of houses 🏘 in the U.S
DO NOT ALLOW THIS…IS ANYONE LISTENING 👂 OR EVEN CARING??
This country is done. Especially when Biden wins reelection....in thanks to all those millions of extra votes by people who entered illegally.
It's called capitalism. They have more money.
For the sake of national security the government should confiscate these properties that China has bought and give them fair value. Cutting all aid to Ukraine and other countries would pay for that.
@demigod1013
No, it's called corruption. Our so-called government is selling our country to our enemies. Try buying land in an enemy country as an American...
So sad! Look where we were just 3+ years ago. 😢 All because of Biden and his administration 😢
All? Nonsense. Learn history and civics.
ALL!!@@Nothingcomestomind124
This kind of crap comes around about every 10 to 12 years like clockwork. Biden didn't create it, but he shur is not helping.
@@Nothingcomestomind124 It has been happening since 1913 with the creation of the "Federal" Reserve, which is a private corporation.
Well it the voters fault they voted for Biden that hate America
If you're experiencing challenges like affording food, being unable to move from your home, facing car expenses, watching your paycheck decrease daily, and you voted for Biden, you are to blame!.
CORRECT !
Exactly!
It was stolen- But your right- you hear people supporting biden
Well if we’re being honest with ourselves it doesn’t all completely fall on Biden. Remember, Trump gave out stimulus checks too and that means the Federal Reserve was printing free money which drives up inflation. He also paused interest on student loan repayment which will negatively affect inflation as well. And also the Feds raise interest rates in response to trying to lower inflation. The interest rates under Reagan were ridiculously high but it was in response to bring down inflation brought on by the Carter administration.
Things you can blame Biden for are. Not drilling for oil which has severely driven up fuel, energy and food costs. Sending billions of tax money to Ukraine and foreign countries. Overspending and driving up the national deficit. And not following through with the student loan debt forgiveness that he promised during his campaign. Those are all things that he directly impacted but Federal Reserve interest rates aren’t really his decision to make.
What about people like me that are doing well and has been since 1999. Who do we owe our success to??
i have a 3% mortgage and id like to move, but like Payne says, yeah most home owners are trapped in our homes by our mortgage rates. im not complaining, obviously im privileged to be a home owner, but i wish mortgage rates were still low. i really feel sorry for young americans that have no hope of home ownership in Bidens america. even if you're paying cash in full for a very cheap $150k home, it will take a while for a dude making 50k to save up that much money, especially while paying crazy high rent prices which will only keep rising. Bidenomics is great isnt it...
You can always move to North Korea.
The airline tickets are dirt cheap.
Over there your mortgage worries cease.
Have a nice flight.
"im privileged to be a home owner"
It's not a privilege if you earned it.
yeah i know, i just try to stay humble. being born in America in itself makes all of us incredibly privileged. i could be in a Cobalt mine in the Congo swinging a hammer for $1 a day, and im grateful im not@@ohyeah11000 . i just try to maintain perspective and realize that so many people worldwide are way worse off than even the poorest americans.
@@terrencekane8203 Out of line comment, Big Gov made a reasonable point. Telling him to go to a Communist country doesn't address the policy failures of this admin. He was merely pointing out their real world impact on the citizenry.
And they had homes in Trump's America??? 🤡 You think that high mortgages and the cost of rental units are NOT related? That makes you an id!ot.
Most low to middle income people right now would be happy having any kind of affordable housing/rental units available. We need development in affordable housing, not more condos.
Everyone need to stop worrying about the rates and look @ the ridiculous inflated home “PRICES”!!!!!!
And Fanny/Freddy up to old tricks that caused the last crisis.
💯
If your mexican you get tax breaks....along with free healthcare, meds, food and college education
My son sold his house that he was paying 2.75% he thought he would buy a comparable priced home in near me. At 7% he couldn’t afford the mortgage payment. $160 to fill my pick up last week.
NO MORE PAPER MAIL IN BALLOTS, ITS A SCAM
Charles Payne is spot on when he says that people can't afford to move.
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded.
My wife's insulin is now affordable and everyone we know has a job if not two.....life is great 😊
@@Chris-n2f9m People need two jobs to afford food and insulin. 😲
yep, i have a 3% mortgage and id like to move but it just doesnt make financial sense unless i buy a house thats like 100k cheaper, i live way more frugally and pay as much towards the mortgage each month as possible.
@@Chris-n2f9mMy oldest adult son has two full time jobs. It’s work and sleep. I told him to make hay while the sun shines because BidenInflation is here to stay. The Democrat agenda is ruining the USA. Our grandchildren will be living a lower standard of living than I did.
ikr!
yes democrats, republicans, independents all have to eat this cake. Something has to change next year. If you like these prices then you can vote for joe but if you want low prices you need to vote Trump. Drill Baby Drill.
lol, Trump will be in prison.
Not before Biden Clinton and Obama. Yeah lol.
@@fionarobertson8841he'd still do a better job running this country from behind bars then joe could ever do from the White House. Now about that comment.....you might wanna reign in your inner stalinist a bit there.
@@fionarobertson8841 Trump can and will win from behind bars. The Constitution doesn't prevent it. Every American sees right through the third-world political witch hunt. Democrats are terrified about actually having to defeat him at the polls, because without covid as a cover it's going to be much harder to flip a few key counties.
Put trump back in the office and it will all go away
My interest rate in 1985 was 10.8%. My brand new starter home was 48,000. I was making $6.00 per hour. Times have certainly changed.
Now it’s 7%, 400k, and $8.00 an hour lol
@@BellBivDeveauwild but true. I feel bad for good young people without parents with the means to transfer wealth/equity.
Absolutely. We (western society) have been, for generations, desperately looking to soothe ourselves by saying “now that we are past that, it’s gonna be smooth sailing from here on out”. It’s no beneficial and never true.
In 1980 my first home was 58,000 @ 10.5% FHA loan. About the same as you.
The days of jimmy Carter
The voters need to wake up and vote incompetence out or suffer for four more years. A very simple choice.
We did, in 2020. Trump's $7.4 Trillion of new money when production came to a stand-still will take YEARS to fix.
lol, our votes don't matter.
God bless Ruby Freeman, may god give her justice!
Ignorance is bliss and they will vote for the same people who gave them this mess.
@@anthonythomas6593I promise you, Trump will not be elected again.
The need to stop letting companies,corporations and other nations buy us properties and land
Yes , about 20% is owned by corporations
True. But that has nothing to do with the problem in real-estate
Yes it does. Go research.
@@michaelperez6682 by 2035 35% will be owned by large corporations it is not getting better
Exactly - it's not Biden
It’s not only the interest rate, it’s prices also. I paid 10 percent on my first home, but the house only cost 64k.
The house did not cost 64K. The money cost 64K. It is what you pay for a thing wit that incurs the cost and not the thing itself.
No worry, it will only get worse.
smhy
Absolutely. No doubt about that
Bidenomics
Blame those that voted for Biden
Only if you let it get worse.
Eight % is not so terrible if you could purchase a nice home for $80,000. I bought a 3500sq' house in 1972 for $42,000 on 7 acres. That same house today sells for $950,000. How did inflation get so out of control? The Bible says in the last days a loaf of bread will cost a days wages. In 1965 a loaf of bread was 25 cents.
So in Weimar bread cost thousands of DM. WHeelbarrows full.
.25 cents sound a bit high for 65
The minimum wage in 1965 was $1.25, so I’d say we’re in a much better place today with the cost of bread compared to current minimum wage.
So in 1965 it was nearly a half hpurs work at minimum wage for bread and youre complaining about its price today?
@@fytghggyungf7601 well no actually a loaf in California is $4.03 and the minimum wage is $15 per hour. That is almost 27 percent of your hourly wage compared to .25 cents and $1.25 hourly which is only 20 percent of your hourly wage. We also pay higher taxes now than we did in 1965 so you are taking home less of that $15 an hour.
In CA yesterday at ARCO AMPM I paid $5.19 a gal. Thanks Biden 🤬
Yeah, I remember when it was DIRT cheap under Trump! Of course, that's because he let the virus in and no one was driving / using fuel.
In CA twenty years ago it was around $1.10 . . . . it had just gone up about 3 cents.
but right now biden knows california will vote democrap in 2024
In CA as well this is just the beginning of inflation!!!
I’m stuck in this CA Nightmare as well
Our leaders need to stop institutional and corporate investors buying up single-family homes just to rent them out.
Yes they do. Too many renters do not take care of the properties and respect their neighbors. The big companies don’t much care either.
This is the problem. Not Biden. He’s apart of the problem like every other president. Too much money was injected into the economy, rates were too low and there is no tax blow or barriers to keeping investors out. If rates go lower we will have another rush in the market. They have to stay high until inventory grows to keep investors out
Not gonna happen. Institutional and corporate investors own our leaders.
They own our leaders both parties
My parents went in to try and buy a new vehicle and they wanted to sell it to them for $7,000 over MSRP this economy is an absolute disgrace Biden needs to go now!
@SunShine-em8quThat is not what I said.....I said $7000 OVER MSRP...
So when Biden "goes home" and you are still miserable... what will be your excuse?
@@promethiac2641 You're about to blame Trump, right? How much do they pay you for posting crap?
Joe has failed America
@@gordonspond I blame Reagan... for the obvious
My first mortgage rate in 1991 was 9.90% BUT that first house of mine was only $77,000. Very doable back then because of the price of the house. Our total income was probably about $27k per year. The house payment was in the low 700’s including taxes and insurance. Income up to now has never caught up while the cost of living has risen and the price of housing is insane. I predict a bust in home prices and values if nothing worse. It’s just not attainable for most and rent costs aren’t helping either.
And the prez talks about bidenomics
The "having a home as an investment " is over now
Homeowners insurance back then was like $300 a year now it’s four times that Taxes also,
Home values are declining YoY nationally
People can't buy homes but investment companies with money will continue to buy.
THE WHOLE POINT AND HE CONTINUES TO YOUT HIS WORK FOR MIDDLE CLASS…..LIAR LIAR LIAR
Truth
Fox News has to blame Biden so you don't blame all PE Firms and Mega Corporations the owners are invested in
So?
And the rent is crazy. People taking advantage of people. They know we can't buy so they keep raising rents
The problem is: People can't afford to buy, but they still will, for many different reasons. That will make things worse!
FJB thanks' democrats
... and 21% of Americans *_still_* support Brandon Bedpan ???
Just think....more than half our population can no longer afford to buy a home...or a new car. 81 million people voted for this....Thanks.
NO NO NO it was cheated in to be this way
Sone people are selling their homes, buying an RV, and paying off debt because they're wise enough to realize that they can't afford a mortgage on a new home
@@truthhurts9246It is happening everywhere.
then they have to pay rent for that too
Has anyone checked out car prices? A Jeep Grand Cherokee $70,000? REALLY. Ford F-150 pickups for $ 85,000 or more?? Wow
Cars cost more than my house did its crazy I'm retired ill just Start walking before I buy a new vehicle.
A TOTAL LACK of true leadership in our times.
They'll continue raising the rates until every city's homeless population is just like Portlands and San Francisco
Raising rates is actually the best possible thing for strengthening/rebuilding the middle class. Low interest rates make it far, far easier for the already wealthy to compound their wealth and leave everyone else in the dust. There's nothing wrong with rates where they are, or even higher, it's just that we must wait for the underlying asset value to readjust to the new reality (which is quickly happening).
There is no helping the woke voters
Yep. "You will own nothing and you will be happy". WEF
happy? im not happy, im furious
Not to mention you will not have choices in the name of "Environment".. i.e. appliances
I voted for Trump but Don't blame Biden for interest rates. The FED lowered rates back after 2008/9 and caused the housing greed level to rise and rise for over a decade!!! ( And Trump was the one who told the Fed to lower rates..) But the sale prices are wayyy too high. I just heard an old lady say at my apartment complex, ""Oh G**, I sold my house for 450k and I only paid 200k... Oh My G**.. hahaha """ So, all we are looking at now is "normal interest" rate levels... But they are Still Low, historically speaking... If housing is unaffordable, its not because of a APR.. It is because of the Huge Sale prices. You people are not thinking clearly... But I will tell you why you are not talking about the high prices, because you are a benefactor of the run up in prices... And you are going to lose your behind when prices fall back to normal or the "historical trend". That's why 1/2 of the people are "hush-hush" on the subject. But just wait until prices fall back. Then people will come out of the woodwork and blame unaffordability on "normalized rates".. Just really stupid people. Drinking the coolaid. Look, low interest is GREAT IF home prices remained at the same level. But you only shoot yourself in the foot if low interest causes the sale prices to Bounce! Because when sale prices bounce, it causes insurance and tax and fee's to also bounce.. And even if an APR is "normal" at 7%, if the sale prices are low, the actual Dollars paid in interst is also no higher than 3% at a much high sale price because Dollars paid are a percentage of the sale price. BUt the key thing about lower sale prices(with normal rates), is that you can actually pay it off early and dodge all the interest. PLus when sale prices are High(relative to income), it hurts people entering the market and it slows the "trickle up" process for existing home owners. So, nobody really wins except the government and RE agents when sale prices are high. For the mathematical reasons I mentioned above, I think people are not getting the good deal that they "THINK" they are getting.. (by having a high sale price at low interest) Because low interest is only good if it does not cause the sale price to increase, but in housing Interest and sale prices are inversely related because of history, and plus affordability is based on monthly debt:income ratio. Its Monthly! It does not consider your retirement, which is what a 30year mortgage includes. Its just crazy what people are doing.
So glad wife and I bought our final home in 2013. No mortgage. Totally blessed.
A very good report on the real Bidenomics.
ikr
NONE of us have forgotten that Trump printed $7.4 TRILLION new dollars while unemployment was at 14.7%. That's a guarantee of inflation. Raising interest rates always comes when inflation takes off.
Correcting the housing market?
@@BigKandRtvtds syndrome sucks
@@azwife1715So do the Republican recessions.
F-J-B
Thanks again, Joe..
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded.
My wife's insulin is now affordable and everyone we know has a job if not two......life is great 😊
Joe? Trump printed $7.4 TRILLION new dollars while productivity was on lock-down. Do you not know what causes inflation? It will take years to fix this.
Build Back Better ..... what a joke
As a Democrat I believe I don't have any choice to vote this electtion because Biden is not a alternative!!!!!!!😢😢😢
I was a successful Loan officer. Then Biden took over. The owner of the company was a die hard liberal. We told him this would happen. He said it's better than Trump. Well, we went from 800 million in loans to less than 150 in about 1 yr. He has one employee now😂
Waaaaaaaa😢
@@WARSPITE.good enough we do miss trump things were so much better it’s been tough getting by everything going up cept my pay
Yep. Trump printed 7.4 TRILLION new dollars, while the economy was at a stand-still. Injecting anywhere NEAR that much cash causes inflation. Simple as that.
@@dereksmith6316 my pay has not gone up, my wife is now babysitting the neighbor's 2 year old (along with our own 2 kids) to supplement our income. im a truck driver and i make 85-90K per year but the money is just not even worth the paper it is printed on anymore
Interest rates are controlled by the Federal Reserve and if you actually WERE a successful loan officer which you’re obviously NOT you’d know that dmfk 😂😂😂
FJB!
And my coworkers wonder why I started biking to work…
And the reserves are still depleted not restored.
Hey Joey, tell me once again how your economy has helped me so much! FJB!
So where are all the liberal comments praising Joe`s successes? Yeah, didnt think so. Do think you could vote this next time on whats best for the country? Ya forkin iceholes!
Love Charles!!! He has the answer to everything!
Dominion voting machines are already done counting the 2024 mail in ballots.
Glad yall voted for Biden
I wanted desperately to buy a house this year. I feel like its never going to happen for me.
Homes are now for the wealthy only.
THE KEY IS TO STOP UPSELLING YOUR HOMES KNUCKLEHEADS JUST BUY A HOUSE THAT IS GOOD FOR YOUR NEEDS PEOPLE NEED TO STOP HOUSE FLIPPING AND DRIVING PRICES UP
Glad I locked in @2% back when Trump was in office (I don't want to move)
Same here, mine is 2.5 fixed, an these trolls that are possessed, an deceived will wake up one day. They deserve every rotten thing Bribin puts out, if we can only get him out.
Way to go Democrat run government.
What happens when other countries dump the dollar??
Game over!
War
We'll be Bricked!
I am so glad I bought a house when Trump was President.I got a 20 year mortgage locked in at %2.85.
$6.35 a gallon in Ottawa Canada
Psychological barrier? 8% on these historically high home prices is a financial crisis. Wages are nowhere near keeping pace with housing costs. I have no clue how people are paying this...
Add in insurance companies trippling (or more for rental properties) the price. Sad when you pay at least twice the principle payment for insurance.
i pay more in car insurance in 1 year then the entire value of my car 🤯🤯🤯
Yeah, my homeowner's insurance is getting scary. Should the Federal government jump into that? I dunno.
smh
Yes there is another issue ..insurance has just gone up and up since Jan 2021
DeFascist doesn't care! 🤣
At least he's not sending out mean tweets. Thank goodness Trump is gone. This guy will go down as the worst president in history!
Go Brandon!
But Joe says everything is great. 81 million votes
I live in Rapid City South Dakota and we have two major players that like to conspire and price fix we are already at $3.99 a gallon.
Over $5 in WA State thanks to our Commie Gov.
Of what? Go juice?
Thanks to PRESIDENT BIDENS infrastructure bill our local roads and bridges are being upgraded.
My wife's insulin is now affordable and everyone we know has a job if not two.....life is great 😊
@@Chris-n2f9m Blink twice if you are being held hostage. 😆 🤣
This is off-topic, but I spent about a week in Rapid City back in 2000. Liked the city and remember being impressed by The Journey Museum. Was in and out of the city while visiting sites in the Black Mountains. Anyway, that's it.
Thanks Charles
Everyone can thank Joe and his supporters for this mess.
Wow with trump it was 3 percent now almost 8 with Biden
Is it too late to start giving Steve Bannon more money to finish the wall?
You must be running low on "But ....Trump!" stuff.
lol
Outrageous housing costs aren't just for the big cities anymore. Look at what a house costs in crapholes like Yakima WA, or the middle of nowhere in Wyoming, Nevada or Utah.
You can blame Joe Biden and the Democrats for this.
Rates were much higher in the 70s 80s but you could still buy a home. No mas.
My 1st home purchase 1987 @ 7%
You can't move because there is nowhere to go. Sort of like that zillow commercial, a couple expecting a child, sold their house and left the house and the commercial ended. They can not buy another home. The market has frozen no one's selling, no one buying.
We bought a house in Boston market in 1981. Interest rate was 19%. It was like buying a house on a credit card.
There’s some rental houses in my neighborhood that have been sitting for months vacant because the ridiculous rents. Also some homes that can’t sell for the high percentages.
Its $ 5.62 in Riverside
Charles Payne knows what he's talking about!
So why is he not telling us the real cause of the problem?
Interest rates go up and housing prices stay up. Double f’d.
No one talks about the fact that lowering interest rates to 2% is what caused this housing crisis because people are locked in with a low rate and will never sell their house now
Hardly -- inflation brought on by govt overspending is the reason you and many others can't afford a home. Keep voting for the big spenders & we'll keep reaping the ugly consequences.
Charles, i believe that I've agreed with everything I've ever heard you say and I enjoy listening to you.
All this is happening in Australia too - high interest rates , high inflation , high fuel costs , super high heating costs . A perfect storm to cripple the West .
BuT iTs BiDeNs FaULt…it’s happening everywhere. Then it’s not Biden. I know you didn’t mention Biden but everyone on here seems to think so.
interest rates should never have been so low, too much money being printed, leverage is encouraged, hard work is discouraged...
This is going to really hurt those who may need to take a second mortgage out for repairs.
I work for TD Bank- they offer a Home Equity loan which has a fixed rate, payment and term! Great option for folks who need cash for home repairs!
90% ltv and 30 year term
$99 closing costs on primary residences.
Approval Depends on credit and dti.
These past few years everything has gone insane. Homes, cars, food, fuel, insurance. Thankfully I have a home and my mortgage is less than a current 1 bedroom apartment in the area and yet still struggling. Can’t imagine what others are feeling.
Sleepy Joe gotta go
The Great Reset in Full Swing
My son paid 50.00 for half a tank. In California tonight 😮
even when mortgage rates were 3% so many americans were living paycheck to paycheck with no hopes of ever becoming a homeowner, now those people really have no chance, and their rents will only keep going up. people are going to have to move into cheaper rural places and buy 150k or less properties and live on rice and beans and put everything towards the mortgage.
Part of the problem is not learning any money management at home or in school….home economics when I was jr high and high school….that’s gone completely and yet kids these days all have debit/and credit cards…it’s crazy what has happened to our education system
yeah, personal finance and philosophy are 2 things lacking in most schools. i was lucky enough to go to a fairly large school and we had a whole class called "personal finance" where they taught Dave Ramsey curriculum and other important money management stuff. we also had home economics. i agree though, generally most schools these days dont teach any viable workforce skills, money management etc@@PatriciaMcCuen
Seven or 8% sounds pretty good I’m 62 I paid more than that
The biggest difference is the price was a lot better. Inflation has destroyed the cost of housing.
Effective 10/1/23, I will not longer have my job working as a Home Inspector. We went from 30 inspections a week, to 6. It’s horrible. I HATE the LEFT.
Transfer your skills to a new job. Wait, you dont have any!
Sorry to hear of your situation. Which market are you working in?
I'm so sorry to hear about your personal failures :'(
@@joemoore2546 I am working as a Home Inspector until 10/1. The company i work for is going out of business, as the Housing market is a disaster in California. We went from $400,000 a year Gross Receipts 3 years ago, to under $100,000 predicted this year. 25 to 40 home inspections a week, to 6 this week.
When Trump was printing 7 trillion new dollars and the economy was on lock-down, what did you THINK was going to happen?
Still the right thing to do. Keep the rates up. Slow the economy down. Bring back the really economy. Get rid of the bubbly economy. Reward the worker for his hourly wage.
Seriously, what has Sleepy Joe done since he’s been in office? Things have only gotten worse.
I noticed a sale on a 12-pack of soda today for $7.99, 5 years ago, it was $2.99 on sale.
So glad now that we own our property free and clear. No, we don't live in a trailer park or, a double wide either.
People own property in Russia?
I don't believe it.
praise be to Jesus!!
My first home in 1986 was 9% mortgage interest and I was making $12/ hour. House cost $135,000.
Unless you're paying with cash, moving away from a 3% rate into a 8% rate is suicide. Nobody is moving unless they have extremely deep pockets. FJB
And FDT for printing 7.4 TRILLION new dollars at a time when productivity was on lock down, and unemployment was 14.7%. We are fortunate that Trump's inflation was not 10 times worse.
@@BigKandRtv Basically what I'm reading is, we should blame DT for the Dinosaurs going extinct too right? Facts are facts, inflation and the economy took a dumpster dive when the corrupt gramps took office.
Things won't change till we get Democrats out of office.
That's Bidenomics! You get what you vote for.
Time to go back to the gold standard
So basically their plan is on target 🙄🤦♀️🤬
$4.49 in Arizona
God bless Ruby Freeman, may god give her justice!