So what's better... To live in an economically depressed town with no growth, but where houses and rents are cheap? Or to live in a boomtown that's growing fast, but where home prices are in a bubble. And regular people can't afford to live? I've been thinking a lot about this question since filming this video. Particularly from the perspective of someone who might work at McDonald's. Or another entry-level service job. The growth orientation of a city like Nashville doesn't really offer much upside for service workers. So one ends up just spending lots of money to live without real upside. Meanwhile - someone working at McDonald's in West Frankfort, IL actually makes more than the someone working at McDonald's in Nashville. And can afford to buy a house. Granted - in a less desirable city. Curious what everyone else thinks about this topic. I'm probably not moving to West Frankfort any time soon. But the area pleasantly surprised me.
Can always upgrade to remote work in an affordable place. I'd be less concerned about the local job situation and more concerned about crime rates. But if you're outside of big cities, those probably aren't that bad either.
Your missing one huge point. If you make a product, move it there, if your work is online , move there. When we all start moving we will create the jobs and little economies eventually become big.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Natalie Noel burns” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
I believe that Florida's housing market will continue to decline as people leave the state and market forces bring prices back down. The high property taxes and rising homeowners insurance costs are making it difficult to afford living in Florida. I anticipate that the state will face significant economic challenges over the next five years.
I've heard a lot of talk about a potential stock market rally. Do you have any recommendations for stocks that might perform well? I recently sold my home in Boca Grande and I'm interested in investing a lump sum into the stock market before prices go up. Is now a good time to buy?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
I really think that depends on the individual. Do you need great restaurants and nightlife, or good schools, etc. or are you a homebody who is content with a quiet life?
That’s what I’m saying here in Grand Junction CO 3/2’s that are total fixer uppers are still going for 325k-350k and much more if they’re not a total shit show Feels like I’m gonna have to wait for ever for it to be affordable here or leave
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos which 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.
With all these changes, I'm thinking it might be a good time to revisit our overall financial strategy. Maybe consulting with a financial advisor could provide some insights into how to navigate through these shifting economic landscapes.
That's a smart idea. A financial advisor can help us assess our current financial situation, including housing costs, and develop a plan that aligns with our goals. Especially during times of market turbulence, having a professional guide can be invaluable.
Wow, those prices used to be common in the 80's. My friend worked at a 711 here in San Diego and was able to buy a three bedroom house. Yes, there was a time you could work at a 711 full time and buy a house in San Diego.
Lived in San Diego since 1997. Even 15 years ago things actually were not that bad cost wise here. How times change...now San Diego is officially the most expensive city in the country.
Yuppp… I remember those days. We didn’t have much traffic either. It seems like as soon as the new millennium began, everything in San Diego became over priced.
Only if the debt pile can't continue to grow. Japan is a good example of how leveraged people can get without actually collapsing. If debt continues to grow, then there is no floor on anything.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
The housing market has always had its ups and downs, but it's true that this time feels different. Having a portfolio manager will save you a lot in the market. My coach has helped me expand my portfolio by 200% over the past few months.
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.
Illinois' state income tax, extortionate property tax, and wasteful corruption ensure places like this stay poor. A $50k house there is going to have like $2k/yr property tax. Oh, and don't forget the 10% sales tax! All that and the local gov't can be bothered to keep the sidewalks clear.
IL state income tax was only 5% when I lived there...which is on the lower end. Not sure if that's changed or not. It was the property tax that was killer....but we lived in the Chicago suburbs.
I will forever appreciate this channel, although the agency model you focus on is different, the principals are still the same. a month ago I started investing into the s&p 500. My portfolio is a little over $68k, but it's a start. I can't even legally get a job, so I'm doing decent.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I'm very happy I'm profitable now.
For me I am still in the fear zone, I've always been scared of loosing my money but love to see people share such words of encouragement through their earnings. congratulations.
The problem with $50,000 investment houses is that they generally rent out for $300-$600 and there is very little profit to be made if any when factoring in regular maintenance. Also usually $50,000 houses have asbestos, radon, old windows, dry rot, old pipes and outdated electrical. To address all these repairs, it generally cost more or the same that you can sell it for. It would, however, be worth fixing up to live in if you are able to work from home and manage a business from another state.
@@darrinitoi agree 100%. Investors trying to make a profit from other people trying to purchase a home seems ludacris to me. Especially when it comes to giant firms. I dont like the idea of regular people doing it. I really dont like the idea of a bunch of firms owning millions of homes.
@@darrinito5 to 10 is even too much. Should be just 1 home completely. The same way during covid a few people can't just buy out all the groceries from the supermarket. Housing is too critical to everyone's well being. And homelessness is growing.
I bought my first house in one of these types of towns for $46,000 with the idea of renting it out after living in it and remodeling it. Property taxes were about 3 months of rent, updating it cost about 20 months of rent, countless weekends breathing in lead and asbestos. Moved out of the town out of boredom, hired a mediocre property manager who rarely mailed me checks, Sold it for about what I had in it, a big lose after all the free time I spent. I did much better financialy in a pro business state with lower taxes and land scarcity.
That sounds like you paid wayyyy too much for property tax should be like one month more or less and then why on earth would you spend 20 times the rent to remodel in a impoverished town like this lol you get 40 thousand dollar homes because people don’t have the money like other places no offense just sounds like a bunch of bad decisions you def won’t make bank renting these out but I’m looking to buy my first home in Pennsylvania for about 35 to 45 grand might rent it out if I can while living in Cancun
I’m expecting like 300 a month if that from the rent profits again won’t make bank but I’ll need a management company local so yea you get homes for cheap but they aren’t gonna make a lot of revenue
Median income refers to household income, which at the present moment is an environment where having two incomes is considered normal. So in this case you would need to add your gross income to your partner's for an apples to apples comparison.
@@FecklessFroghopperAlso forgot to add two children are included in that equation too, so incomes are way lower than most people realize, because the government has their bs way of framing it as "household income," which as you said is two working adults, as well as two children.
@@OldAssSax I’m sorry but you’re incorrect, taxes (both federal and state plus ss) take a lot. Then we have 401k, sometimes union dues and healthcare costs (which if you opt for a plan that actually covers a decent amount or have to have a family plan is expensive). So saying it’s half or close to half is very realistic (depending on your circumstances). Sure you can decide not to put into a 401k and opt out of healthcare coverage but you will still have taxes (and still not have no when near $31k take home). The.when you have a healthcare issue, you’ll be scr3w3d.
I went to SIU Carbondale and I can tell you that city has severely went to shit compared to when I went to college there in 93. The reason why nobody wants to live in Illinois and the reason why everybody is leaving Illinois is it's a shit state with a corrupt government all the way through from the top all the way down. If it's not the crime from the criminals that it gets you it's the crime from the police and the government but hey if you want to live in a police state with high crime rates Illinois is the perfect state for you
My sister moved to Southern IL, Bentonville, around 30 years ago. The houses are inexpensive, but is also difficult to find contractors and construction people to make repairs. There is more of an informal network for this type of work. IL opened a prison. In Southern IL around 30 years ago, and this is a newer employer
You are spot on, particularly regarding this area. Good luck finding reliable renters. Getting on disability is actually a career plan for many families in the area. I'm not exaggerating, it's a terrible thing for people that actually need disability, but it's super common in Southern Illinois.
That’s where my mom was from. Her father was killed in a coal mine explosion just before Christmas of ‘51. She left in the 70’s. Very depressing area to have watched manufacturing disappear from. I keep hoping that the restoring of manufacturing to the USA will revive all the towns in America that have suffered nearly the same fate.
The US should be getting more manufacturing back as globalization ends. But it will mainly be coming back because it will be cheaper to do it locally with AI and robotics.
@@metta8 not according to the latest manufacturing data. It came in at a high of (drumroll) 50.7 which means just barely above equilibrium. Also with the massive government deficit and triffins paradox, it's basically economically impossible for manufacturing to come back
When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't... Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones. It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others. My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AILEEN GERTRUDE TIPPY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
As they should be. Speculators and Developers have not destroyed the value of Homes by making them overpriced. Why are they content? Because that is what Americans want is to OWN THEIR OWN HOMES and NOT be BURDENED by mortgages and Rents that handcuff them to constantly working and never being able to spend time with their family and Recreation.
Glad you're doing these kind of videos! I recently bought a home in Niagara Falls NY for $100K in a safe neighborhood right on the state park with access to beautiful trails along the gorge....homes across the river in Canada are 4-6 times the price. A lot of the high growth star cities will sputter under the gravity of their prices, and the quality of life in those high growth places declines with congestion, hype, and greedy elites usually running amok.
@@breadnaut If you've only lived in rough areas, perhaps it's difficult to imagine such a place but they absolutely DO exist. Surprisingly, they're not that difficult to find nor are they oppressively expensive.
what do you mean, the current situation: 1. Stocks are trading like the Fed already cut rates 2. Bonds are trading like rate cuts aren't happening 3. Gold is trading like we are on track for a "soft landing" 4. Oil prices are trading like we are entering a recession 5. Housing markets are trading like nothing is happening Nothing adds up here.
Have you seen the news about Wall Street landlords being barred from purchasing houses? The Fed made it public news like them and their cohorts won’t still be the first to scoop Treasuries that they manipulate to be more profitable than owning mortgages in the long term.
Yes, it's due to concerns about their impact on housing prices and accessibility for regular buyers. You can be on the winning side if you act fast and sometimes get insider information that can help you beat the market. I don’t believe in tracking broad indexes.
Speaking of housing, The decision on when to pick an advisor is a very personal one. I take guidance from ‘ Monica Mary Strigle ‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Indeed, I learnt of Strigle in 2020, lady leverages assets such as 10-year and 30-year Treasury bonds and alternative paper assets including Spot ETF, often resulting in huge gains for her clientele. The charges are commissions only upon realizing these gains, not before.
I actually bought a house in herrin back in February of last year that was move in ready for 58K. The only thing that needed to be repaired was the fence. And my property taxes were around $700, so could of been a lot more if I lived in Carbondale. And my neighbors are good people. Love the low cost of living here, and I can always go on vacation each year to see my favorite places that are unaffordable to live in!
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
The Federal Reserve is a system which loots the workers of their labor in exchange for their printed money through approved government sponsored usury.
I grew up and lived in southern Illinois and returned several years later to purchase an extremely nice home for $39k in a small sleepy town. This area hasn't just become depressed over the last thirty years. It was depressed before that. It's a cycle there. The place was hopping during the depression days with jobs. It was the last place hit by the depression and it never fully recovered. Lots of Chicago ppl are moving there to retire to a quiet inexpensive place. My family all still lives in the area. There's not much to do but there's lakes. I couldn't live there again. But if you want to buy cheap and have a home and you have enough income it's worth looking into
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Right, I delegate my day-to-day investing to a brokerage adviser ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I only make $12'ish per hour at Home Goods building furniture in the back warehouse and I've been there almost 2 years. It sucks knowing or hearing that places like WalMart and McDonalds pay much higher.🥴
@@mikejones3155 Thanks and I hear you, but it is my part time 2nd job that allows me to work one day per week. Most all other places that pay more require at least 2 days per week.🥴
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.
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.
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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.
They are. The effective tax rate statewide is around 2.07%, nearly double the national average. As for home price property taxes for this county, those are on average around $1,770 yearly for West Frankfort IL as of November 01, 2023.
What a fascinating video. It really begs the question of why we choose to live in the densely populated areas and what we're willing to pay for that privilege. Meanwhile, depending on your lifestyle/career choices, living out in the midwest can be a very intelligent choice for some. Work from home and affordability can be massive drivers for making that type of decision. The downsides would obviously be a noticeable change in surroundings and lifestyle. Obviously, it isn't for everyone, but there is a rise in people who want to do things like grow their own vegetables and raise chickens, outdoor activities like hunting/hiking, and those who may live in one of the population centers but can do without night/city life. One thing I would want to point out is to look at the background for the houses that are occupied. Notice the trucks, RV's/campers, trailers, 4wheelers, etc. A lot of these are luxury items. When you aren't spending all your income on a mortgage loan, you actually have disposable income.
The reason is because modern regulations in most "city counties", and counties near cities, require 10+ acres to install septic, a requirement for habitation. Break the rules, pay hefty fines, and get your property repossessed if you don't. The cost for land for 10 acres "near the city" is often the same as the cost of a house in "The city" in most areas. If we had 1960 kind of land regulations, where 1 acre was enough, you can bet most people would "Go rural" like they did back in the 1960s.
I sadly live here in Denver too. Owned a condo....got married and sold said condo to live with my wife. 2 and a half years later I find out about cheating and divorce is happening. I don't know if I will ever be able to afford another house, even with the equity I will be getting from the divorce. Sucks because I have a great job here that actually pays decent. But as a single man, I can't afford to live here and I refuse to rent.
@@HeavensSatans : A friend of mine got divorced and gave up the house in Morrison up against the hills. He's renting in Elisabeth now and saving money to buy a house for cash in the area around The Springs. I forget the town - west of the Springs where houses are under or around 300k.
Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should be buying?
Places like this that have high speed internet infrastructure will become popular with young remote workers who prefer small-town living and want to get on the property ladder while simultaneously being able to afford to save and invest with aspirations to purchase a higher value home in the future.
@@perindne - The roads are excellent to ride my Harley all day long and not getting run over by traffic. Very lay back lifestyle living and my retirement money would go a long way. So no, I'm not being sarcastic although I've been known for being that from time to time.
Totally agree. Many people see the current status of the economy to be excessively challenging. I used to only buy a handful of items, but it's been difficult lately because of the market's extreme volatility and inflation eating into my $210k portfolio. My main worry is what will happen to me after I retire.
I completely understand your concerns, but you should first have a conversation with a the law, like a hedge fund manager or financial manager. For my part, I prefer the latter to the Yt opinions.
True. This is why I work with an investment advlsor. I currently have $490k in a well-diversified portfollo that has experienced exponential growth and is well-matched for every season of the market. We are now working on a more figures ballpark goal this year.
About 10 years ago. I fell in love with a house in the northern Midwest region. It was priced at 6.3M. Amazing house and property with exquisite design. Now, that same house is listed for 2.2M and nobody is biting. There is no way that will depreciate in value, yet the owners will still have to sell for less than its worth because nobody is moving there. This is extremely tempting....
@@Surveillance- I live in Florida, and the house is far north. However, the retreat appeal is what draws me to it. I can not explain nor want to go into the details of the property and where it is at. But it truly is amazing. Location, scenery, accessibility, size. The layout and design is amazing. Put it this way, if down here where I am at in Florida, it would easily go for 20M+.
Our family is from Saginaw Michigan and we moved to Southern California in 1985. My parents owned a small home in Saginaw and sold it for 40,000 back then. Then in California in 1996 we bought a house for 245,000 near the ocean, today that home is worth 1.4 million. The home in Saginaw is worth 60,000. It was worth it to move to a progressive area. We don’t look back.
What you're witnessing Nick is a area that will be recovering from market and interest rate manipulation before most other areas. I once commented that we'll see CRE drop to 5% of its highs and residentials drop to 10% of their highs. You didn't scoff, but you stated I hope not. Well those numbers become comprehendable when you understand how much manipulation exists in the financial and investment industries. Your doing a great job brother, keep it up.
Listen up 😊 it takes more to be there and it reminds me of my past when i couldn't get anything done while now i have a home, $88k weekly profit and a lovely daughter!!
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my daughters surgery (Oscar). Glory to God.shalom.
You’re not analyzing that properly. You could probably spend $10000 to fix up and rent it for $900/month. That would about 10,000$ a year which is a 25% return
The recent surge in the U.S. housing market, marked by home builders liquidating their stock and a significant increase in new homes for sale, indicates a potential shift in market dynamics. This situation, highlighted by a 12.2% drop in new home sales and a decrease in median sales prices to $434,700, coupled with a substantial rise in housing inventory, suggests a possible cooling off in the real estate market. This development could impact financial investments in real estate, presenting both opportunities and risks, and underscores the importance of diversification, such as considering cryptocurrencies, which offer liquidity and a different risk profile compared to traditional markets like real estate...In the complex world of cryptocurrency investment, having a knowledgeable guide is essential. Francine Duguay's experience in this field has been crucial for many. With her advice, it's been possible to grow a nest egg of around 100k to over a million in a matter of months.
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary…
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional…
Nick, I live in South Florida. retiring in 2 years. Looking to move to Erie PA, Akron OH or Youngstown OH. Places where you can still buy a home in the same or close to the same price range as the homes your looking at in southern Illinois. 👍💯 Plan to become a snowbird.
@@damonmelendez856 If you never slept at California overtime rates (8 hours 1x, 8-12 hours 1.5x, more than 12 is 2x and 2x weekends. So working 24hrs a day for 365 days you'd make $335k a year so.... yeah maybe that's enough for a mortgage.
Now you guys are finally starting to see the benefits of cheap housing. I live in IL but I look in the state and nearby. I bought a house in WI for 34,000$ and 2 others for $60,000.
@@JaydogRules-q6wYou are right. I plan to gradually move into better neighborhoods. My strategy works because the margins are better and I can get government subsidies as well. I’ve done over 20 properties like this.
I was personally impacted by Twitter's recent layoffs. Having saved over $600k, I'm trying to figure out how to invest it in the stock market to earn some excellent returns to help offset my monthly expenses.
Thats when you hire someone to manage your money. You need a financial-advis0r straight up! Even while $600k might seem like much, one bad decision might seriously deplete it.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Given the prevailing economic conditions, investing in real estate might not offer optimal returns. I've recently sold my property in the Boca Grande area and intend to allocate approximately $200,000 towards stocks. Despite the challenges, there's potential for profit in the stock market. Any suggestions for promising stock investments?
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Exactly , a lot of people neglect the need for a FA , i've been in the Housing market for years , i didn’t see need to diversify, but since i got portfolio manager , i make $100k every quarter for the pass 5 years by diversifying in different financial market
as well i have been on the housing market for couple of years , i have the urge to diversify , but i don't know how to go about it , as well i don't want more financial erros.
I grew up in Illinois before I left to California and now Washington. It's very expensive on the coast and sometimes I feel like moving back, but I don't miss the weather.
Not sure where u are but Columbus Ohio home prices are dropping some but investors are picking up all the homes in the mid 400 range, especially those homes that need renovations
I'm 2 hrs south of Columbus. I'm in a small rural place. Think I'll stay here for now. We have a nice brick home we built. Could probably sale for 350,000 or more. I'm hoping we can afford to stay in it. We just retired. It is paid for and only 17 yrs old. But still have taxes, insurance, and up keep. Thank goodness my husband can do alot of the upkeep. He just remodeled our master bathroom. Just cost materials.
The United States has a credit based economy, home loans, car loans, student loans, credit cards which people use to appear well off. I used to live in California, now live in a bordertown in Mexico, i purchased land cash, i build my own home (with local tradesman). I have electricity, water, sewer services, cable, internet at an affordable price. People don't stress about rent because over 90 percent of the people own their own home
Reminds me of certain areas of Detroit back in 2012 or 2013 where you could get houses for 20-40k easy. Not much has changed there in over 10 years. Problem is without good schools and public amenities, there’s little incentive for people to move there, even if they can find work. Why pay taxes for a place like that?
Housing prices are unlikely to significantly decrease until there's a substantial increase in housing supply. In the USA , there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable , but others say it's risky. Any advice?
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
I'd recommend Paducah, Kentucky just across the state line from Carbondale, Illinois. It's just as cheap real estate wise and you could drive twenty minutes to Illinois for a better paying job.
Better have good some good homeowners insurance....In 2023, there were 120 tornadoes in Illinois. That place is smack dab in the middle of Tornado Alley.
This WAS the norm pre-covid. The house I rented in MS was 800/mo for a 3bd/2ba. 40K-50k a year to buy, as was every home in the neighborhood. The empty lots at the time (this was just 5-6 years ago) were 600-800 DOLLARS (for a full lot) and would sit on the market with no interest. Those same empty lots are now 6-8K just in case someone buys. The value of homes/land (wood/dirt) has NOT gone up. What has gone up is the amount of money in circulation and the amount of people hoarding properties. It's very easy to inflate prices when you can create an artificial shortage by buying up everything...Covid provided the opportunity and they took it.
Very low prices but it's a small town in the middle of nowhere. It's also in Illinois, with a government as insane as those expensive states on the coasts. Pritzker The Hutt could lock the state and declare a rent moratorium at the drop of a hat in the next emergency. Illinois is not the vibe for what I'm building.
Most of the houses would qualify as tear-down; amount of work required to make the house up to code is almost what the property costs. Better to tear-down and start from scratch. Local building consider a house as "new construction" if you do not use the previous foundation
I really like that you have changed your tone of voice (for awhile it seemed you had a frantic tone). I get so much more out of your video because it’s easier to listen to and I can concentrate on the great content now! Thank you!
You almost got this right. Illinois is still a "Blue Hellhole," and while a lot of what we may equate with that is not present in that small town (it's probably really nice). That being said, the taxes are 3x what they are in the "Red States" adjacent to Illinois. Missouri, Ohio, or Indiana for example. We live in Cape Girardeau, MO. It's a 45,000 person college town, with an art scene, and legitimately "foodie restaurants."
Value trap - it takes 18 months to evict there and then you have squatters. Also look at water quality and enviro factors and you will see why there is a problem. Out of state investors are despised and you will lose. The days where Blackstone can come in to a neighborhood and force everyone to be a renter are over.
I bought my first house for $46K making about $14/hr. I could only qualify for a variable rate loan and it was at 11%. However, my mortgage was lower than what my house would have rented for, under $350/month. So, I can vouch for your assessment. P.S. The 2/1 house I had bought was not a fixer. I did paint & tweak a few things to make it my own. It was modest, but I was proud of it.
There are areas like this in many states. Tokens, even smaller cities, where the economy has crumbled and the houses are cheap, many empty, so there actually are houses available out there, however the houses available are in a less than desired area.(see Pine Bluff Arkansas as one example)
Interesting video Nick. Some quick numbers on West Frankfort. Violent crime is very low: 0.28 rating ( per 1,000 vs. 4 for US median). Property crime not so low: 28.6 rating (per 1,000 residents vs. national media of 20). Schools: Jr. High 5/10. High school: 2/10. Taxes: $3k per year ($150k house). Income tax: 5%. Sales tax: 9.5%. Dining: McD and Olive Garden. Healthcare: One local hospital has "No events relating to foreign objects left in body during a surgery..." . What more do you need? So if you need to be in Illinois for some reason and don't need or want to earn much and don't have kids or home school your kids , don't require a lot of healthcare and don't care about amenities like fine dining, etc. it is a viable option. Also, this is probably a preview of what faces much of the US when the fake parts of our economy collapse. And while doubtful, you never know if things get bad maybe coal will make a comeback (I doubt that). (And you trust the state of Illinois .....ROFL.)
Here in Cali, the govt and local govt definitely are trying to keep inflating the low end market by offering free 20% down deposit and 1% interest loan with bad credit so they can keep the property tax elevate so hard to see any sign housing problem . Low end in Cali is around $3000 to $400K.
I find in areas similar to the one featured in the video, is that a great majority of those houses require a decent amount of renovation. Many of these places are also on the radar of corporations/conglomerates.
I used to be a homeowner in Casper, Wy....because the major employer ( oil refinery) moved out of state. Can you say, Casper the friendly ghost town. It did recover but it took years and there was zero guarantees.
So what's better...
To live in an economically depressed town with no growth, but where houses and rents are cheap?
Or to live in a boomtown that's growing fast, but where home prices are in a bubble. And regular people can't afford to live?
I've been thinking a lot about this question since filming this video. Particularly from the perspective of someone who might work at McDonald's. Or another entry-level service job. The growth orientation of a city like Nashville doesn't really offer much upside for service workers. So one ends up just spending lots of money to live without real upside.
Meanwhile - someone working at McDonald's in West Frankfort, IL actually makes more than the someone working at McDonald's in Nashville. And can afford to buy a house. Granted - in a less desirable city.
Curious what everyone else thinks about this topic. I'm probably not moving to West Frankfort any time soon. But the area pleasantly surprised me.
Can always upgrade to remote work in an affordable place. I'd be less concerned about the local job situation and more concerned about crime rates. But if you're outside of big cities, those probably aren't that bad either.
Remote work + small towns are a great way to get ahead. Metro area income:expense ratio make zero sense.
Your missing one huge point. If you make a product, move it there, if your work is online , move there. When we all start moving we will create the jobs and little economies eventually become big.
Wait for bubble to pop and buy where jobs are plentiful. I suppose.
@@ordinaryhuman5645 True. As far as crime, usually crime is "granular" so entire cities get bad rap because of a handful of bad neighborhoods.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Natalie Noel burns” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
Bought my first home in 2001 @7.5% rate...
People sure got spoiled and lost their minds and restraints with 3% rates.
I would also add the disproportionate amount of corporations and foreign investors buying up the properties making it difficult for citizens to own.
I believe that Florida's housing market will continue to decline as people leave the state and market forces bring prices back down. The high property taxes and rising homeowners insurance costs are making it difficult to afford living in Florida. I anticipate that the state will face significant economic challenges over the next five years.
I've heard a lot of talk about a potential stock market rally. Do you have any recommendations for stocks that might perform well? I recently sold my home in Boca Grande and I'm interested in investing a lump sum into the stock market before prices go up. Is now a good time to buy?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
Do you mind sharing info of the adviser who assisted you?
Her name is Rebecca Noblett Roberts. Hope that helps
It's crazy to think that some areas are still affordable for locals while others are in a housing bubble. Makes you wonder where the real value lies.
Low crime statistics are important.
It lies where people are willing to pay for it. 😂
Its not a mystery. Its always been like that, some places are cheaper than others. Just means some areas are more desirable than others.
I really think that depends on the individual. Do you need great restaurants and nightlife, or good schools, etc. or are you a homebody who is content with a quiet life?
That’s what I’m saying here in Grand Junction CO 3/2’s that are total fixer uppers are still going for 325k-350k and much more if they’re not a total shit show
Feels like I’m gonna have to wait for ever for it to be affordable here or leave
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos which 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.
With all these changes, I'm thinking it might be a good time to revisit our overall financial strategy. Maybe consulting with a financial advisor could provide some insights into how to navigate through these shifting economic landscapes.
That's a smart idea. A financial advisor can help us assess our current financial situation, including housing costs, and develop a plan that aligns with our goals. Especially during times of market turbulence, having a professional guide can be invaluable.
Please how do I find and contact this financial counselor ?
The advisor that guides me is Amber Dawn Brummit , most likely the internet is where to find her basic info, just search her name. She's established.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
Wow, those prices used to be common in the 80's. My friend worked at a 711 here in San Diego and was able to buy a three bedroom house. Yes, there was a time you could work at a 711 full time and buy a house in San Diego.
Lived in San Diego since 1997. Even 15 years ago things actually were not that bad cost wise here. How times change...now San Diego is officially the most expensive city in the country.
Yuppp… I remember those days. We didn’t have much traffic either. It seems like as soon as the new millennium began, everything in San Diego became over priced.
California makes it too difficult to expand upward and outward
This is my favorite comment! Shows how much things have changed. In 20 more years there will be a ‘new normal’ (just don’t know what).
You weren’t doing that in New Jersey I paid 150 for a house that needed complete restoration
Houses don't need to cost so damn much, there's no good reason for all this madness.
Lack of supply. We haven’t produced enough housing. That said, where are all these illegal aliens supposed to live?
Tell that to the boomers. They are the ones setting these prices since they are the ones who own the homes in America
This is causing people to not to afford to live there
government intervention in the market.
tax assessments
The fact housing isn't swallowing everyone's whole income might put a floor under the local retail economy too.
Only if the debt pile can't continue to grow. Japan is a good example of how leveraged people can get without actually collapsing. If debt continues to grow, then there is no floor on anything.
I do not think the sales volume will be enough to hold up many retail stores. Maybe Family Dollar.
ALL leverage positions unwind- sometimes violently, but ALL do. There are NO EXCEPTIONS_ EVER.@@AJ-ox8xy
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
The housing market has always had its ups and downs, but it's true that this time feels different. Having a portfolio manager will save you a lot in the market. My coach has helped me expand my portfolio by 200% over the past few months.
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.
The advisor that guides me is Vivian Carol Gioia, most likely the internet is where to find her basic info, just search her name. She's established.
Thank you for sharing; I will need all the help I can get because I recently sold some of my assets in order to invest in the stock market.
The trucks parked on the street have msrp prices that are comparable to the house prices.
Chances are most of those are stolen
Haha!!!
Illinois' state income tax, extortionate property tax, and wasteful corruption ensure places like this stay poor. A $50k house there is going to have like $2k/yr property tax. Oh, and don't forget the 10% sales tax! All that and the local gov't can be bothered to keep the sidewalks clear.
public unions are main reason why tax are so high
Support the Chicago teachers' union, abortion on demand, and the Pritzker family...c'mon, man!
IL state income tax was only 5% when I lived there...which is on the lower end. Not sure if that's changed or not. It was the property tax that was killer....but we lived in the Chicago suburbs.
@@Cordycep1False! It is not the unions!
I will forever appreciate this channel, although the agency model you focus on is different, the principals are still the same. a month ago I started investing into the s&p 500. My portfolio is a little over $68k, but it's a start. I can't even legally get a job, so I'm doing decent.
Okay but is not luck, is all about having good investment plans most of all trading with a trust worthy expert.
Watching professional trading videos and most especially connecting with the right person the digital world is full of in unreal people I met some of them during my success journey. I felt same way when I started especially when you use demo account you might be winning but when you put in real money you start losing I understand and I pass through it all. I'm very happy I'm profitable now.
Hey how good are your earnings I will like to get some insights into trading thank you.
I can relate to all you said becaus am facing similar thing right now.
Congratulations I wish you more success
For me I am still in the fear zone, I've always been scared of loosing my money but love to see people share such words of encouragement through their earnings. congratulations.
The problem with $50,000 investment houses is that they generally rent out for $300-$600 and there is very little profit to be made if any when factoring in regular maintenance. Also usually $50,000 houses have asbestos, radon, old windows, dry rot, old pipes and outdated electrical. To address all these repairs, it generally cost more or the same that you can sell it for. It would, however, be worth fixing up to live in if you are able to work from home and manage a business from another state.
Well you better get security cameras too
@@darrinitoYou would be at home in north korea, comrade.
@@darrinitoi agree 100%. Investors trying to make a profit from other people trying to purchase a home seems ludacris to me. Especially when it comes to giant firms. I dont like the idea of regular people doing it. I really dont like the idea of a bunch of firms owning millions of homes.
@@darrinito5 to 10 is even too much. Should be just 1 home completely. The same way during covid a few people can't just buy out all the groceries from the supermarket.
Housing is too critical to everyone's well being. And homelessness is growing.
@generalsol1977 completely false. Go find another mommy
I bought my first house in one of these types of towns for $46,000 with the idea of renting it out after living in it and remodeling it. Property taxes were about 3 months of rent, updating it cost about 20 months of rent, countless weekends breathing in lead and asbestos. Moved out of the town out of boredom, hired a mediocre property manager who rarely mailed me checks, Sold it for about what I had in it, a big lose after all the free time I spent. I did much better financialy in a pro business state with lower taxes and land scarcity.
That sounds like you paid wayyyy too much for property tax should be like one month more or less and then why on earth would you spend 20 times the rent to remodel in a impoverished town like this lol you get 40 thousand dollar homes because people don’t have the money like other places no offense just sounds like a bunch of bad decisions you def won’t make bank renting these out but I’m looking to buy my first home in Pennsylvania for about 35 to 45 grand might rent it out if I can while living in Cancun
I’m expecting like 300 a month if that from the rent profits again won’t make bank but I’ll need a management company local so yea you get homes for cheap but they aren’t gonna make a lot of revenue
Crazy to think that 53k is below the median when I barely gross 40k and this is the cheapest place to live in America.
Median income refers to household income, which at the present moment is an environment where having two incomes is considered normal. So in this case you would need to add your gross income to your partner's for an apples to apples comparison.
a homeless shelter is technically the cheapest if you crush the numbers
I know.
That area is likely plagued with crime and unemployment with no job prospects and awful Healthcare options.
@@FecklessFroghopperAlso forgot to add two children are included in that equation too, so incomes are way lower than most people realize, because the government has their bs way of framing it as "household income," which as you said is two working adults, as well as two children.
It's amazing that anyone thinks it's amazing that an area is affordable to locals.
Yeah but $15 an hour isn’t really 31k. After taxes, healthcare, 401k deductions you’re left with about half. So really it’s more like 16k a year.
@@GhostSal Not its not, not even in Illinois. Unless you're putting 30%+ in a 401k.
@@GhostSal Lol, you think minimum wage drones have 401k's?
@@zacklewis342 Yes, many employers, such as McDs offer 401k matches in fact.
@@OldAssSax I’m sorry but you’re incorrect, taxes (both federal and state plus ss) take a lot. Then we have 401k, sometimes union dues and healthcare costs (which if you opt for a plan that actually covers a decent amount or have to have a family plan is expensive). So saying it’s half or close to half is very realistic (depending on your circumstances). Sure you can decide not to put into a 401k and opt out of healthcare coverage but you will still have taxes (and still not have no when near $31k take home). The.when you have a healthcare issue, you’ll be scr3w3d.
I went to SIU Carbondale and I can tell you that city has severely went to shit compared to when I went to college there in 93. The reason why nobody wants to live in Illinois and the reason why everybody is leaving Illinois is it's a shit state with a corrupt government all the way through from the top all the way down. If it's not the crime from the criminals that it gets you it's the crime from the police and the government but hey if you want to live in a police state with high crime rates Illinois is the perfect state for you
sad, but true....
Funny reply
@@GWaters-xr1fv unfortunately it is funny but it's actually unfortunately very very true too
I was going to ask how is the crime and drug use there but I guess it’s bad huh?
There is no hope, everything is corrupt
My sister moved to Southern IL, Bentonville, around 30 years ago. The houses are inexpensive, but is also difficult to find contractors and construction people to make repairs. There is more of an informal network for this type of work. IL opened a prison. In Southern IL around 30 years ago, and this is a newer employer
My parents bought their first house in Southern Illinois. They paid $3,000 for it.
Damn wish I could go back and get 50 of them with my salary from the last 2 years. But
😮omg
My great grandfather bought his first house for $50
1948?
@@douglaswatkins6281 1897 in ohiho
Some places are not good investments just because income to home price ratio. Collecting rent in areas that are "cheap" is not for the faint of heart.
Facts. 4 people were killed in a drive by last month
You are spot on, particularly regarding this area. Good luck finding reliable renters. Getting on disability is actually a career plan for many families in the area. I'm not exaggerating, it's a terrible thing for people that actually need disability, but it's super common in Southern Illinois.
That’s where my mom was from. Her father was killed in a coal mine explosion just before Christmas of ‘51. She left in the 70’s. Very depressing area to have watched manufacturing disappear from. I keep hoping that the restoring of manufacturing to the USA will revive all the towns in America that have suffered nearly the same fate.
Just one of the many things we need to fix this country. But it would be a great start.
The US should be getting more manufacturing back as globalization ends. But it will mainly be coming back because it will be cheaper to do it locally with AI and robotics.
Nope, manufacturers are moving from China to Mexico now.
@@simonl4657 Both can be true. Manufacturing is also starting to come back here as well. It will come back faster as AI and robotics expands.
@@metta8 not according to the latest manufacturing data. It came in at a high of (drumroll) 50.7 which means just barely above equilibrium. Also with the massive government deficit and triffins paradox, it's basically economically impossible for manufacturing to come back
When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't... Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones. It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others. My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust.
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of a financial market expert
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’AILEEN GERTRUDE TIPPY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
Yes we are living in a depression and people don’t even realize it-
As they should be. Speculators and Developers have not destroyed the value of Homes by making them overpriced. Why are they content? Because that is what Americans want is to OWN THEIR OWN HOMES and NOT be BURDENED by mortgages and Rents that handcuff them to constantly working and never being able to spend time with their family and Recreation.
Glad you're doing these kind of videos! I recently bought a home in Niagara Falls NY for $100K in a safe neighborhood right on the state park with access to beautiful trails along the gorge....homes across the river in Canada are 4-6 times the price. A lot of the high growth star cities will sputter under the gravity of their prices, and the quality of life in those high growth places declines with congestion, hype, and greedy elites usually running amok.
I assure you there is no such thing as a "safe" neighborhood.
@breadnaut3087 why not I live in a safe neighborhood if it's nobody outside n crime rarely happens is that not safe
@@breadnaut If you've only lived in rough areas, perhaps it's difficult to imagine such a place but they absolutely DO exist.
Surprisingly, they're not that difficult to find nor are they oppressively expensive.
Nia Falls, USA is not safe lol
It’s a ghetto the whole town
We lock our doors going thru to get to Nia Falls, Can
@@breadnautbuddy I grew up in a safe neighborhood lol
what do you mean, the current situation:
1. Stocks are trading like the Fed already cut rates
2. Bonds are trading like rate cuts aren't happening
3. Gold is trading like we are on track for a "soft landing"
4. Oil prices are trading like we are entering a recession
5. Housing markets are trading like nothing is happening
Nothing adds up here.
Have you seen the news about Wall Street landlords being barred from purchasing houses? The Fed made it public news like them and their cohorts won’t still be the first to scoop Treasuries that they manipulate to be more profitable than owning mortgages in the long term.
Yes, it's due to concerns about their impact on housing prices and accessibility for regular buyers. You can be on the winning side if you act fast and sometimes get insider information that can help you beat the market. I don’t believe in tracking broad indexes.
Speaking of housing, The decision on when to pick an advisor is a very personal one. I take guidance from ‘ Monica Mary Strigle ‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.
Indeed, I learnt of Strigle in 2020, lady leverages assets such as 10-year and 30-year Treasury bonds and alternative paper assets including Spot ETF, often resulting in huge gains for her clientele. The charges are commissions only upon realizing these gains, not before.
I agree the mrkt is manipulated that’s why I never contribute above 5% I try to enjoy the ride while I invest.
I actually bought a house in herrin back in February of last year that was move in ready for 58K. The only thing that needed to be repaired was the fence. And my property taxes were around $700, so could of been a lot more if I lived in Carbondale. And my neighbors are good people. Love the low cost of living here, and I can always go on vacation each year to see my favorite places that are unaffordable to live in!
No dude, it's not because it's economically depressed, that neighborhood is a WAR ZONE. It's freakin dangerous to live there.
Is it gangs or drug problems
Thanks!
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
The Rothschilds.
I thought this was a quote from G Edward Griffin's book The Creature From Jekyll Island
Preach!
The Federal Reserve is a system which loots the workers of their labor in exchange for their printed money through approved government sponsored usury.
Right all money printed the Fed reserve is basically a loan to the us treasury department
Nice thing about being retired is you can live in an affordable area and not worry about being near a job.
I would move to Central America and live like a king
@@YeshuaKingMessiah Many retire in other countries.
You know, unless you've got a chronic condition that needs special care. Which a lot of old people do.
I grew up and lived in southern Illinois and returned several years later to purchase an extremely nice home for $39k in a small sleepy town. This area hasn't just become depressed over the last thirty years. It was depressed before that. It's a cycle there. The place was hopping during the depression days with jobs. It was the last place hit by the depression and it never fully recovered. Lots of Chicago ppl are moving there to retire to a quiet inexpensive place. My family all still lives in the area. There's not much to do but there's lakes. I couldn't live there again. But if you want to buy cheap and have a home and you have enough income it's worth looking into
The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Right, I delegate my day-to-day investing to a brokerage adviser ever since suffering a major steep-down late 2019, amid rona-outbreak, and as of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments.
think you could suggest any professional/advisors i can get on the phone with?
You try "Natalie Ann Brinkman". Also maintains an online presence. Just make a simple search for her name online.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I only make $12'ish per hour at Home Goods building furniture in the back warehouse and I've been there almost 2 years. It sucks knowing or hearing that places like WalMart and McDonalds pay much higher.🥴
Go get a new job and leave home goods .. you owe it to yourself to be making more money 💰..!!
@@mikejones3155 Thanks and I hear you, but it is my part time 2nd job that allows me to work one day per week. Most all other places that pay more require at least 2 days per week.🥴
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.
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.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
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.
Aren’t the taxes extremely high there 🧐
Yes, I worked in Bloomington, Ill. I had to file state income taxes and they were brutal.
They are.
The effective tax rate statewide is around 2.07%, nearly double the national average. As for home price property taxes for this county, those are on average around $1,770 yearly for West Frankfort IL as of November 01, 2023.
@@HDCybersunThat is cheaper than Texas. Property Taxes here are 2.5 to 4.0 depending on county!
Yeah, but so are the taxes with a higher home value elsewhere.
What a fascinating video. It really begs the question of why we choose to live in the densely populated areas and what we're willing to pay for that privilege. Meanwhile, depending on your lifestyle/career choices, living out in the midwest can be a very intelligent choice for some. Work from home and affordability can be massive drivers for making that type of decision. The downsides would obviously be a noticeable change in surroundings and lifestyle. Obviously, it isn't for everyone, but there is a rise in people who want to do things like grow their own vegetables and raise chickens, outdoor activities like hunting/hiking, and those who may live in one of the population centers but can do without night/city life.
One thing I would want to point out is to look at the background for the houses that are occupied. Notice the trucks, RV's/campers, trailers, 4wheelers, etc. A lot of these are luxury items. When you aren't spending all your income on a mortgage loan, you actually have disposable income.
I have 4 advanced degrees. I could not find a job in the area.
The reason is because modern regulations in most "city counties", and counties near cities, require 10+ acres to install septic, a requirement for habitation. Break the rules, pay hefty fines, and get your property repossessed if you don't. The cost for land for 10 acres "near the city" is often the same as the cost of a house in "The city" in most areas. If we had 1960 kind of land regulations, where 1 acre was enough, you can bet most people would "Go rural" like they did back in the 1960s.
There are jobs or anything to do. Looks depressing.
24 years ago I bought my house in Denver for $94,500. A few years before that people were buying houses for 11k, even 8k. Now look at Denver.
I sadly live here in Denver too. Owned a condo....got married and sold said condo to live with my wife. 2 and a half years later I find out about cheating and divorce is happening. I don't know if I will ever be able to afford another house, even with the equity I will be getting from the divorce. Sucks because I have a great job here that actually pays decent. But as a single man, I can't afford to live here and I refuse to rent.
@@HeavensSatans : A friend of mine got divorced and gave up the house in Morrison up against the hills. He's renting in Elisabeth now and saving money to buy a house for cash in the area around The Springs. I forget the town - west of the Springs where houses are under or around 300k.
As an officer of a large federal bank recently said, "people complain of the cost of eggs, then go out and buy a new car."
Everyone needs more than their salary to be financial stable. The best thing to do with your money is to invest it rightly, because money left for saving always end up used with no returns.
Am looking for something to venture into on a short term basis, I really need to create an alternate source of income, what do you think I should be buying?
Crypt0currency investment, but you will need a professional guide on that.
FB.
Evelyn C. Sanders
Places like this that have high speed internet infrastructure will become popular with young remote workers who prefer small-town living and want to get on the property ladder while simultaneously being able to afford to save and invest with aspirations to purchase a higher value home in the future.
Why as an investor would I buy a house in an area where everyone can afford to buy or rent for very little?
It’s called long term investing. Over time the values can increase and the rents.
Looks desolate. No people. Empty streets. No traffic and streets have no names. That's exactly where I want to live at my age.
SARC!
@@perindne - The roads are excellent to ride my Harley all day long and not getting run over by traffic. Very lay back lifestyle living and my retirement money would go a long way. So no, I'm not being sarcastic although I've been known for being that from time to time.
yea but you'll have to wear bulletproof vest all the time
No, you won't.
well, if you watch the news .. we should already be, I'm just questioning a helmet
No. Caucasians around there, not near St Louis. Been in Illinois (stuck here) for too long to mention.
He went there😂and your right
We need the economy to fall. Asset prices must be corrected for families to thrive and make the nation great for the next generation.
That wont happen though… We need to accept these changes and understand UsA is becoming a 3rd world country
Totally agree. Many people see the current status of the economy to be excessively challenging. I used to only buy a handful of items, but it's been difficult lately because of the market's extreme volatility and inflation eating into my $210k portfolio. My main worry is what will happen to me after I retire.
I completely understand your concerns, but you should first have a conversation with a the law, like a hedge fund manager or financial manager. For my part, I prefer the latter to the Yt opinions.
True. This is why I work with an investment advlsor. I currently have $490k in a well-diversified portfollo that has experienced exponential growth and is well-matched for every season of the market. We are now working on a more figures ballpark goal this year.
@josephbush May I know the name of the advsor who has been assisting you, please?
Just reached out to her since I need all the assistance I can get. I just scheduled a caII. Thanks a lot
You better have 2 million to retire
This video is refreshing. It gives you the good America days . Keep up the good work .
About 10 years ago. I fell in love with a house in the northern Midwest region. It was priced at 6.3M. Amazing house and property with exquisite design.
Now, that same house is listed for 2.2M and nobody is biting. There is no way that will depreciate in value, yet the owners will still have to sell for less than its worth because nobody is moving there. This is extremely tempting....
If you’re still thinking about ten years later might as well go for it if it’s not a speculative purchase and is for living in.
@@Surveillance- I live in Florida, and the house is far north. However, the retreat appeal is what draws me to it. I can not explain nor want to go into the details of the property and where it is at. But it truly is amazing. Location, scenery, accessibility, size. The layout and design is amazing.
Put it this way, if down here where I am at in Florida, it would easily go for 20M+.
@@nickfrost9771 Must be near the lake in IL or WISC
Our family is from Saginaw Michigan and we moved to Southern California in 1985. My parents owned a small home in Saginaw and sold it for 40,000 back then. Then in California in 1996 we bought a house for 245,000 near the ocean, today that home is worth 1.4 million. The home in Saginaw is worth 60,000. It was worth it to move to a progressive area. We don’t look back.
You spelled regressive wrong.
You are totally correct. Placing your capital in assets that do not appreciate creates an opportunity loss.
@breadnaut3087
I didn’t mean to say regressive
What you're witnessing Nick is a area that will be recovering from market and interest rate manipulation before most other areas. I once commented that we'll see CRE drop to 5% of its highs and residentials drop to 10% of their highs. You didn't scoff, but you stated I hope not. Well those numbers become comprehendable when you understand how much manipulation exists in the financial and investment industries. Your doing a great job brother, keep it up.
lol
Looks like a future ghost town to me...
But there’s basically no market at all plus, the government strangle hold on people/businesses prevents growth.
The house that you featured in this video, for $32k, just had price reduced today by $10k, to $22к 😮
They must’ve not seen you video and lost any hope
That's the way it should be everywhere! The problem isn't the low prices here, but the fact that nobody can afford to live!
Listen up 😊 it takes more to be there and it reminds me of my past when i couldn't get anything done while now i have a home, $88k weekly profit and a lovely daughter!!
Can I also do it??? My life is facing lots of challenge lately.
Mrs Anne Mayfield Jones is my Helper and God changed my life through her awesomeness.
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my daughters surgery (Oscar). Glory to God.shalom.
Absolutely! I've heard stories of people who started with little to no knowledge but made it out victoriously thanks to Renee Marie Harrison.
I do know Renee M. Harrison, I also have even become successful....
I looked at this situation last year, buying a 30k house gets you $25 a month net profit, not worth the effort & time.
Smart.
It leaves a house for a family to purchase and fix up
It might be IF your finances are at that point.
You’re not analyzing that properly. You could probably spend $10000 to fix up and rent it for $900/month. That would about 10,000$ a year which is a 25% return
The recent surge in the U.S. housing market, marked by home builders liquidating their stock and a significant increase in new homes for sale, indicates a potential shift in market dynamics. This situation, highlighted by a 12.2% drop in new home sales and a decrease in median sales prices to $434,700, coupled with a substantial rise in housing inventory, suggests a possible cooling off in the real estate market. This development could impact financial investments in real estate, presenting both opportunities and risks, and underscores the importance of diversification, such as considering cryptocurrencies, which offer liquidity and a different risk profile compared to traditional markets like real estate...In the complex world of cryptocurrency investment, having a knowledgeable guide is essential. Francine Duguay's experience in this field has been crucial for many. With her advice, it's been possible to grow a nest egg of around 100k to over a million in a matter of months.
She often interacts on Telegrams, using the user-name...
@FrancineDuguay .
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing....
Investing has proven to be an incredibly beneficial decision. My cryptocurrency profits continue to play a substantial role in growing my overall wealth, reducing my reliance on my salary…
The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a financial professional but is very advisable you make use of a professional…
Nick, I live in South Florida. retiring in 2 years. Looking to move to Erie PA, Akron OH or Youngstown OH. Places where you can still buy a home in the same or close to the same price range as the homes your looking at in southern Illinois. 👍💯 Plan to become a snowbird.
McDonald's in Santa Clara California is advertising $22.50 an hour. Of course a 1500sq ft home is $2M there so I don't think it's worth it.
With a lot of overtime, you could swing it?
@@damonmelendez856 If you never slept at California overtime rates (8 hours 1x, 8-12 hours 1.5x, more than 12 is 2x and 2x weekends. So working 24hrs a day for 365 days you'd make $335k a year so.... yeah maybe that's enough for a mortgage.
Now you guys are finally starting to see the benefits of cheap housing. I live in IL but I look in the state and nearby. I bought a house in WI for 34,000$ and 2 others for $60,000.
@@JaydogRules-q6wYou are right. I plan to gradually move into better neighborhoods. My strategy works because the margins are better and I can get government subsidies as well. I’ve done over 20 properties like this.
I was personally impacted by Twitter's recent layoffs. Having saved over $600k, I'm trying to figure out how to invest it in the stock market to earn some excellent returns to help offset my monthly expenses.
Thats when you hire someone to manage your money. You need a financial-advis0r straight up! Even while $600k might seem like much, one bad decision might seriously deplete it.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure.
Can you share details of your advisor? I want to invest my increased cash flow in stocks and alternative assets to achieve financial goals.
Aileen Gertrude Tippy is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
Theres no demand to live in a a town with no economy. Thats why.
Given the prevailing economic conditions, investing in real estate might not offer optimal returns. I've recently sold my property in the Boca Grande area and intend to allocate approximately $200,000 towards stocks. Despite the challenges, there's potential for profit in the stock market. Any suggestions for promising stock investments?
portfolio diversification is very advisable in the investment plane , well i think you need to get a financial expert to assist you with the best financial goal.
Exactly , a lot of people neglect the need for a FA , i've been in the Housing market for years , i didn’t see need to diversify, but since i got portfolio manager , i make $100k every quarter for the pass 5 years by diversifying in different financial market
as well i have been on the housing market for couple of years , i have the urge to diversify , but i don't know how to go about it , as well i don't want more financial erros.
I grew up in Illinois before I left to California and now Washington. It's very expensive on the coast and sometimes I feel like moving back, but I don't miss the weather.
Not sure where u are but Columbus Ohio home prices are dropping some but investors are picking up all the homes in the mid 400 range, especially those homes that need renovations
I'm 2 hrs south of Columbus. I'm in a small rural place. Think I'll stay here for now. We have a nice brick home we built. Could probably sale for 350,000 or more. I'm hoping we can afford to stay in it. We just retired. It is paid for and only 17 yrs old. But still have taxes, insurance, and up keep. Thank goodness my husband can do alot of the upkeep. He just remodeled our master bathroom. Just cost materials.
The United States has a credit based economy, home loans, car loans, student loans, credit cards which people use to appear well off. I used to live in California, now live in a bordertown in Mexico, i purchased land cash, i build my own home (with local tradesman). I have electricity, water, sewer services, cable, internet at an affordable price. People don't stress about rent because over 90 percent of the people own their own home
In USD , how much do the local tradesman charge per hour?
No we’re a consumer based economy
Reminds me of certain areas of Detroit back in 2012 or 2013 where you could get houses for 20-40k easy. Not much has changed there in over 10 years. Problem is without good schools and public amenities, there’s little incentive for people to move there, even if they can find work. Why pay taxes for a place like that?
Housing prices are unlikely to significantly decrease until there's a substantial increase in housing supply. In the USA , there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable , but others say it's risky. Any advice?
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.
@@michaelwiebeck3 Mind if I ask you to recommend this particular coach you using their service?
Credits goes to "Vivian Carol Gioia" one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Insightful... I was curious after reading what you shared, so I Googled her name. I came across her webpage.
I'd recommend Paducah, Kentucky just across the state line from Carbondale, Illinois. It's just as cheap real estate wise and you could drive twenty minutes to Illinois for a better paying job.
I like Kentucky. ❤
Better have good some good homeowners insurance....In 2023, there were 120 tornadoes in Illinois. That place is smack dab in the middle of Tornado Alley.
Dangerous New Madrid Fault line
This WAS the norm pre-covid. The house I rented in MS was 800/mo for a 3bd/2ba. 40K-50k a year to buy, as was every home in the neighborhood. The empty lots at the time (this was just 5-6 years ago) were 600-800 DOLLARS (for a full lot) and would sit on the market with no interest. Those same empty lots are now 6-8K just in case someone buys.
The value of homes/land (wood/dirt) has NOT gone up. What has gone up is the amount of money in circulation and the amount of people hoarding properties.
It's very easy to inflate prices when you can create an artificial shortage by buying up everything...Covid provided the opportunity and they took it.
This 100%
I was literally born in Carbondale. My parents left Marion before I was 1. They look at Southern Illinois as the worst place in earth to live.
Very low prices but it's a small town in the middle of nowhere. It's also in Illinois, with a government as insane as those expensive states on the coasts. Pritzker The Hutt could lock the state and declare a rent moratorium at the drop of a hat in the next emergency. Illinois is not the vibe for what I'm building.
Some on the vehicles on that street are worth more than the homes…
Most of the houses would qualify as tear-down; amount of work required to make the house up to code is almost what the property costs. Better to tear-down and start from scratch. Local building consider a house as "new construction" if you do not use the previous foundation
I wanted to move to Waco, Txs. The weather is prone to tornados. No thanks. Taxes are high in Texas too..
I really like that you have changed your tone of voice (for awhile it seemed you had a frantic tone). I get so much more out of your video because it’s easier to listen to and I can concentrate on the great content now! Thank you!
I checked prices in that county, for some reasons, it all said, "contact for price", very strange.
There are 1000s of small towns in the center of the US with low priced housing.
You almost got this right. Illinois is still a "Blue Hellhole," and while a lot of what we may equate with that is not present in that small town (it's probably really nice). That being said, the taxes are 3x what they are in the "Red States" adjacent to Illinois. Missouri, Ohio, or Indiana for example. We live in Cape Girardeau, MO. It's a 45,000 person college town, with an art scene, and legitimately "foodie restaurants."
Value trap - it takes 18 months to evict there and then you have squatters. Also look at water quality and enviro factors and you will see why there is a problem. Out of state investors are despised and you will lose. The days where Blackstone can come in to a neighborhood and force everyone to be a renter are over.
There’s houses for $20k-$50k all day everyday in New Orleans. ⚜️
Lots of crime and robbery
yea, the cost of a human life is cheap there too
No jobs.
I'd never live there.
How you doin?
I bought my first house for $46K making about $14/hr. I could only qualify for a variable rate loan and it was at 11%. However, my mortgage was lower than what my house would have rented for, under $350/month. So, I can vouch for your assessment. P.S. The 2/1 house I had bought was not a fixer. I did paint & tweak a few things to make it my own. It was modest, but I was proud of it.
I subscribe cause that was soooo interesting. From a French guy who mooved in Alabama
Fifty K house. But government taxes are 6o K .... per year.
You guys should copy Germany. They locate a specific manufacturing business in small towns to help support the economy of the town.
Would be great to have Germany's work standards as well. Health care for all and a minimum of 20 vacation days/year.
There are areas like this in many states. Tokens, even smaller cities, where the economy has crumbled and the houses are cheap, many empty, so there actually are houses available out there, however the houses available are in a less than desired area.(see Pine Bluff Arkansas as one example)
Interesting video Nick. Some quick numbers on West Frankfort. Violent crime is very low: 0.28 rating ( per 1,000 vs. 4 for US median). Property crime not so low: 28.6 rating (per 1,000 residents vs. national media of 20). Schools: Jr. High 5/10. High school: 2/10. Taxes: $3k per year ($150k house). Income tax: 5%. Sales tax: 9.5%. Dining: McD and Olive Garden. Healthcare: One local hospital has "No events relating to foreign objects left in body during a surgery..." . What more do you need? So if you need to be in Illinois for some reason and don't need or want to earn much and don't have kids or home school your kids , don't require a lot of healthcare and don't care about amenities like fine dining, etc. it is a viable option. Also, this is probably a preview of what faces much of the US when the fake parts of our economy collapse. And while doubtful, you never know if things get bad maybe coal will make a comeback (I doubt that). (And you trust the state of Illinois .....ROFL.)
9.5% sales tax is absolutely extortionate, what services or amenities are the residents getting for that?
Here in Cali, the govt and local govt definitely are trying to keep inflating the low end market by offering free 20% down deposit and 1% interest loan with bad credit so they can keep the property tax elevate so hard to see any sign housing problem . Low end in Cali is around $3000 to $400K.
here in TN houses are going for nearly twice what they are worth.
I find in areas similar to the one featured in the video, is that a great majority of those houses require a decent amount of renovation. Many of these places are also on the radar of corporations/conglomerates.
I like the positivity ❤ And small towns can be so happy.
Funny how those houses are average or above average in Charlotte and selling over 400K:)
I used to be a homeowner in Casper, Wy....because the major employer ( oil refinery) moved out of state. Can you say, Casper the friendly ghost town. It did recover but it took years and there was zero guarantees.
I haven't seen any signs of housing price dropping. Where have you got your evidence, please show more datas in numbers.
Video Request: cheapest place to buy in South Carolina. Also more Detroit updates. TIA
I'm never going to be able to own my own home unless I win the lotto, but I gotta play the lotto first....
Compared to Mexico, that sidewalk looks great!
"He's a neighborhood that locals can afford to live in...and I'm going to ruin that"
Doesn't look too horrible. A few 35k cash offers left and right wouldn't hurt
Try investing materials to redo the houses. Then there is wear and tear on the home from the renter.
really great video. What a different perspective. Keep up the great work
reminiscent of America back in the 70s. Back when employee wages were keeping up with the cost of living.