PROOF! MAJOR HOME PRICE CUTS HAPPENING RIGHT NOW!
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- เผยแพร่เมื่อ 16 ก.ย. 2024
- There are numerous examples and you don't even have to look that hard anymore of properties that have major major price drops all over the country. The severity of the trap of course depends on the market and how expensive the listings are, but they are almost everywhere. This is a strong sign. The bottom of the housing market is falling out as we speak.
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The Economy is IN FREEFALL! ECONOMIC COLLAPSE IMMINENT th-cam.com/video/hPVCwxRkDOU/w-d-xo.html
So l have owned my home free & clear of banks since the early 90's.
So where would l stack up in this housing crash the green, yellow or red?
All the people that wanted to take part in gouging flipping make fast cash, market adjusted sticker, move to Florida super cheap, hardly no taxes, life is long I have money for Starbucks today. Most of these people in trouble have seen this just seemingly yesterday. POOR. PLANNING !!! ???
Michael & Lisi,
I am in the direct path of hurricane Francine. If it gets to scary I will go north and stay with a relative. My reservation has closed all offices and the school.
Many here live right on the bayou. I can see it from my back door.
I'll let y'all know how it goes. Wish us luck. I will keep in touch.
Glad you're in Cali? I might have to come out there with you two lol
Cool ass ending
6:33 6:35
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!
You're correct! With the help of an investment coach, I was able to diversify my 450K portfolio across markets and produce slightly more than $830K in net profit from high dividend yield equities, ETFs, and bonds.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
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 ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I located her through google, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
The world's smallest violin is playing the world's saddest song for house flippers who've lost money.
😂😂😂
Exactly 😅
Same for the car dealers
Don’t feel bad for them gouging d bags at all
The marked uptick in these new "Real Estate Gurus" selling courses is the best marker for 'houses aren't selling' for me.
Buying and selling for the same dollar amount will cost you a minimum of 10%, at least here in MD. Settlement fee, loan origination, title insurance, home inspection, transfer tax when you buy. realtor fees and more transfer tax when you sell.
my husband and I own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Real estate is a solid investment but demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
Considering the sell and invest option? It's essential to consult a reliable financial planner to ensure income projections align with your goals.
have you worked with a financial planner ? if yes , how was it? care to share your experience
Certainly I have, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jessica Lee Horst” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
This Jessica lady looks great.i looked her name up. We have about $300,000 in IRA and 401(k) and 403(b) assets. Is that something she can manage? I already left a message, what’s the response timing like?
Over price cars. Over priced homes. Over price Food. Over price
Insurance. Where will the insanity end🤔
It's all the Orange Guy's Fault! Vote Radical Khameleon Harris and all will we well!
Taxes
Everything is going to go down, including the stock market.
Hopefully it ends when Trump takes back this country and puts it back on track ....this country doesn't need socialism or Marxism...it needs to get back to being the U.S.A.
@@emcraith1When our dollar becomes the Zimbabwe dollar......worth NOTHING
LOL Pandemic FOMO! Buy high, sell low... Seeing lots of those homes on the market at a major loss. Thanks Michael and Happy Monday!
You know there are people crushing it out there?
lol people who FOMO have really cheap payments right now. It’s the people who waited and continued to rent that’s getting screwed over right now.
@@Francisco-po1cf lol people who bought at the peak in 2022 at 6% interest have low payments you say? I think you've confused low payments for low equity my man. I own but honestly why not rent when the price of homes is coming down more in a year than the cost of a years rent?
😂😂😂😂
@@nitroneonicman people have been waiting since 2020 when rates were lower than 3%. Some of the same TH-camrs who criticized people for buying in 2020 are now saying they got lucky.
I’m waiting to buy. Most of my debt is paid off, I rent a room from family for $1k/ month and I make $100k and single. I’m chilling
Yeah you good. Just keep stacking up that cash…
Way too much to rent a room
Compound your money.
You pay $1k for a room living with family, that’s crazy.
You living in a mansion? 1k for a room is insane. Must be in new york or california
No matter how cheap you get a condo,....you always have the ''unknown'' of how much your HOA could go up,....and there is NOTHING you can do about it.
Don't HOA's apply to single family homes too?
… Especially if you get a lien.
@@grimaffiliations3671 most planned communities. I try to avoid looking in those areas.
Personally, I think only a fool would buy something with an HOA.
@grimaffiliations3671 Single value home HOA's usually cover community pool(s) and common areas and are not subject to the massive structural assessments we're seeing in the condo market.
There’s so many homes for sale in Ohio the prices are dropping fast ! If it has hoa fees !! Those are half priced.. a hoa fee that costs more than your taxes!! That’s over !!
I live in the Cleveland area. I've noticed houses for sale and longer.
All those reasons plus it is Ohio so...
@@OldLion64I'm in Ohio next to Toledo, sold my house in Monclova a month ago, our house prices did not go up that fast like the junk houses did,the hoa and being a 55 plus community eliminates 90 percent of the buyers.
Ohio does blow.i hate it here,I'm counting the days to be out of here.@@OldLion64
How about Springfield OH?
Never ever buy a condo. Horrible decision because of the monthly HOA. Noone talks about this enough
Hoa for a condo is such a rip off. They never do near what it's worth. All they do is give you a hard time and tell you what you can't do. You don't even feel like a homeowner. You feel like a renter. No thanks.
And the funds are mismanaged.
By brother and his wife have two different condos, like not doing yard work, private secure community gates and boat dock. It's not for everyone but some love it.
HOA = Easy profit
@@melissasmess2773
Yeah I have a primary Oklahoma and Florida dream condo.
Nice to be back home after six months traveling out of country.
Can’t complain.
People have been complaining for over two years now that they cannot afford food or utilities.
Because it was politically inconvenient it was ignored.
Today the housing market is shocked and surprised that they are affected.
As one who has been treading water for quite awhile now now, there is some serious schadenfreude watching the first class passengers noticing the hole in the hull after telling us we were lying about it.
If a shark doesn’t get me first, there will be a certain amount of entertainment in watching them fight for their place in the limited amount of lifeboats.
Yes I love it lol, popcorn will be soggy but still
In Canada the Lords act like everyone earns 150k a year.
God bless both your struggle....and....your ability to find clever humor.
Your imagery? Well done !
it will not...
@@compassioncampaigner728 😁
Thank you.
My father was a well-known writer of his time and I am voracious reader.
"My education was neglected but I was passionately fond of reading"
-Mary Shelley
Frankenstein, pg 1 😉
it's nice to know the confluence of the two and writing since I was a child have paid off.
True story: A guy named Shel Silverstien, a writer from the 60's, was a close friend of my father's. When he would come over to the house he would sit me on his lap and tell me stories but the deal was I had to tell him a story first.
I love the taste of words and thank you much for your compliment. 😁😁😁
No one is being forced to sell their house right now. It's crazy to pay what people are asking for homes today!
When they cannot afford the exorbitant property taxes and homeowners insurance! !
As it is with any thing you purchase, the buyer sets the price. Something is worth what someone is willing to pay.
Exactly! Have a buyer strike.
Just refuse to pay the asking price offer 40% less.
Unless they lost their job and cannot pay the mortgage. Lots of people in that boat right now!
Yeah we are. 😢 Insurance increases are putting disabled and senior owners out onto the streets. In 2020, my insurance was $160/month. I just got a call today that it will now be over $500. My home is zero risk
I was born and raised in San Francisco and the Bay Area, and have been active as a career in the real estate industry since 1976 !
At 69, I believe and thought I had seen it all until now !
I wouldn't buy anything right now for the foreseeable future, nor house, a car, "or anything you don't need" or can live without, long after the election.
Michael is 100% spot on with this forecast, thus, and the truth of the matter is, "The Empire is deep trouble" !
For how much we Love Donald Trump, the Evil that has indoctrinated American society from Mephistopheles, and the government being run by "The Spirits of the Dead", it's just too far gone now for anyone to turn this peril around any time soon in the foreseeable future...
This is the result when you put "public sector mentality" in charge of "private sector experience and wisdom"...
I've experienced (3) economic cycles thru my life and this one keeps me up at night...
Thanks for sharing your wisdom I turn 67 this coming December and I'm not having problems getting sleep but I'm unbelievably concerned
So well said, thank you for sharing your insight and wisdom.
Voting has consequences. Cali is getting everything it deserves.
Prices need to keep coming down. Everyone is getting laid off, and the prices are still too damn high.
Not everyone, govvie contractors and illegals are getting employed left right and center
@@99allthetime they need a rugpull immediately
The immigrants will buy your home and you will own nothing and be unhappy 😂
Need a $100,000 per $100,000 and million per million reduction. Investors jacked homes between $50,000-several million per year.
Nonsense! We just need to import more people to keep the demand side surging.
We sold our home 18 yrs ago, in SW Florida. Prices were up and it sold in 2006 before the last crash. It was 10 yrs old and paid off. We made 200,000 in profit. Left Florida and moved back to the midwest. The poor guy that bought it lost it in the crash. The value went down to what the house cost us to build.
sad story
The value is likely back up again for now.
How do you lose a house in a crash? Appraisal value does not matter if you are staying long term
You were the smartest person in the room in 2006 😊
@@ALEXdaG clearly you were not yet a bill-paying adult in 2008-2012 but you are about to see it play out again
The last summer, sellers just jack up price then sharply cut after no one buy their overpriced house.
These sellers are trying to get out before the blood bath.
exactly. I live in Austin TX and just saw a home selling for $559,999 15 months ago now listed for $399,999. Waiting for price to drop to $350,000 before I buy it. 🤠
@@swagic8452just put in an offer for what you'll pay for it? The worst they can say is no.
@@swagic8452when it drops to $350 offer them $312 with 14 days settlement.
@@swagic8452 Howdy! I wish you luck on your endeavor 😊
You can't use that wording now. Everyone will think you are going on a violent rampage.CNN. MSNBC. ABC. 😂😂😂
Brampton, Canada had a Stellantis manufacturing plant that made every Dodge Charger, Challenger, and Chrysler 300. The last car out of there was last December, and the plant has been just sitting there idle with nothing to make ever since! It's no wonder real estate there is tanking with no money flowing in from that facility.
My husband worked in the plants a few weeks at a time. He passed away before this. He wasn't thrilled with the area.
Kia sales are slightly up.
@@JNoMooreNumbers Very sorry for your loss, he is in a better place in the presence of God
Brampton is the hood
@@overcastfriday81 And so is the increasing amount of Kia car thefts .
It's just a matter of time when a lot of sellers have to cut the price to get their homes sold!
Lol we'll see.. there's no price cuts in my area, homes are selling before they even hit the market and people are paying the asking prices.....just watched 4 homes sell in 48 hours
@@beefnacos6258what area ?
@@beefnacos6258where are you located?
@@beefnacos6258 where?
With how fast home prices and interest rates are falling, it’s proof that the economy is on life reserve. To buy right now still might be too early.
Or too late
It's way too early. The bottom is still a while out. No FOMO.
Interes rates are still at 7% for a 30 year....
It’s definitely too early to buy
These price declines will continue for over a decade.
Michael, I have lived in Northern California all my life. Even with these price drops these homes are grossly overpriced. Consider buying a 2 million dollar home in California. The taxes on that home are $25,000 per year.... We are entering into a very unstable economy. Large numbers of people are being laid off in Silicon Valley... an unusual situation that has not occurred for MANY years. Property values are highly inflated.......
I agree that all of the tech layoffs are extremely concerning because these areas that usually are considered pretty stable. Now with A I though some of the tech workers that are the "grunts" can and will be replaced. Entire coding teams will be let go and then just the top coders or managers will be left to look over the code that the A.I makes for example.
Data entry positions, also can be replaced by A.I. many purchasing departments. Lots of things. Scary times.
@@PatrickC139 Consider Elon Musk buying Twitter and getting rid of 80% of the employees…… without AI.
@@curtgomes I would consider that in the same ballpark though because it was very clear that Twitter was extremely bloated.
One only had to look at the previous "day in the life" videos that run around social media at different companies like Twitter, Spotify, LinkedIn..etc all these companies have been extremely bloated and all of them have actually done major layoffs.
@@PatrickC139 I was born and raised in the Santa Clara/San Jose area. I watched the high tech industry form and mature. The amount of excessive 'bloat' extends to many companies there today. For years they were flush with tons of money and no expense was too extravagant. I saw that firsthand. Those days are now basically over. Manufacturing and innovation has been adopted all over the world. Silicon Valley's exclusivity is fading fast. Cling-on workers are dead weight. Layoffs have only just begun.
Just one side issue:
How is it that the Russians have highly sophisticated hyper sonic Iskander and Kinzhal missile the we cannot match? Someone is in for a wake-up call.....
I have been in tech for over 40 years. It is always boom and bust when a new technology comes along. If you don't like having to learn new skills constantly you need to get into a new field.
Wow you’re a really good guitar player! Good to see your personal side every now and then, Micheal!
Prices aren’t going down. They are going back to market normal minus the overinflated bump over the past few years.
Goodness no, it will never go back to the original market normal as you call it.
@@beefnacos6258 yet wages are normal. Groceries gas and insurance is higher. Cars too. So why wouldn’t homes be in line.
"Going back to market normal?" Where? It's still VERY much a sellers market in NH. Homes being sold for cash, no inspections, at more than $100k over asking (24% in one case). Total feeding frenzie after most open houses, bringing in multiple over-asking offers. Houses selling between $350 and $450 per square foot and these are just normal houses on postage-stamp-sized lots, not "luxury" homes.
@@user-we1ue3fl5hI can name more states that have spiking inventories and dropping prices than you can name states where the prices are going up. I promise you.
Like always some places are over asked. Some going down
Housing prices in Florida went up so high it is not surprising they will retract. I am in Virginia, and I bought my house for 245K in 2019 and now could easily sell for 350K now. Sure, it went up quite a bit, but nowhere near as much as many other places. It also has 6+ acres and attached garage. I don't care if my house value goes down since I am 71 and don't want taxes going up.
My son bought in Alexandria in 2015 for
$924,000. Now has gone up to $1.5M. He is not selling either.
@@larrymann1272 Northern Virginia has the highest prices in houses in our state. That is a big increase, and the tax increases can bite. In Virginia they can only go up 1 percent a year UNLESS they call a public meeting. I am expecting a meeting this coming year in my county, they came here this year and took pictures for a real estate assessment. I think real estate taxes are the worst way to tax the public because you have to pay an tax increase in something that has not put money in your pocket unless you sell. But Virginia hits us will all the taxes, state sales tax, state income tax, local sales tax, real estate tax, personal property tax on vehicles, DMV tax, gasoline tax and other fees.
I agree.
The sky is falling...
Anecdote:
My buddy, in LV just sold his house for 40k over asking.
Don't panic.
🔥🤘🔥
Absolutely love the guitar playing. You rock, dude! Don’t stop playing!!
Thanks! Will do!🤘
Middle Tennessee prices are still outrageous, but especially if you want land. You want land you have to pay a very high price that middle class people can’t afford or compete in. It’s depressing.
Yes but.... TN has no income tax, so property taxes are very high in TN. you have to be a "farm" in order to get a break. I see a lot of horse "farms" on 100+ acres.
In cookeville. Been stuck for 3 years unable to buy anything here.
@@matthewm3912 It's depressing, isn't it? We bought our house in 2019 right before the housing prices doubled. We live near a great school, and we would never be able to live in my neighborhood if we didn't buy when we did.
I don't see these losses in highly desirable locations. The saying Location, Location, Location.... is so true.
I live near a destination wine town in Washington, homes are always in demand. Small starter home is about $325,000. 😮
@@melissasmess2773 I know . Those pesky laws of supply and demand . I get it .
Then you are not looking too hard.
@@michaelspunich7273 no need to look. Coastal and high end neighborhoods the worst case is prices staying the same. You obviously don’t live in one if you think otherwise.
It's all melting down like you predicted
A clock is right 2 times a day. Some people lost the valuable time in between.
Melting down? This is great news. Things are good.
@@davidgray1515 It's all in your perspective! As a first time buyer waiting in the wings, this is great news for me.
We'll see when it happens guys
No it's not, bunch of hype.
I'm skeptical whether any single housing market has bottomed yet. In the last cycle 2007-2011, it was 12-24 months after the fed funds rate bottomed that the average single family home price bottomed. Probably earliest possible bottom would be Q1 2026.
It’s market by market. Many have and are falling now but California will definitely hold out until a few more years.
Q 4 2030
@@ralph95 as in Agenda 2030?
For most of USA Q3 2012 was bottom. RE has 7-10 year cycles T-B. This cycle could bottom 2028-2030, if history repeats.
I watched this twice and it still hits!
He posted an hour ago, you responded an hour ago, how did you watch it twice?
@@johnleebass It's a bot, think about it, the comment doesn't even make sense.
Thanks for Sharing Michael , Guitar riffs of the charts and a good way to piss off the Neighbors!
The only reason people will buy a condo in FL is if HOA is relatively cheap and the building is relatively new.
1500 HOA
Condos have always been a huge ripoff.
A girl I know got voted out by her HOA because she left her TV on when she went to work. There is no privacy.
You are pretty much playing for a glorified apartment.
Yeah my condo building was built in 2008.
New builder codes and already had a ten year inspection.
There’s a waiting list to buy where I live.
Agree 100%. There is a great unit for sale in a condo building built in 2021 in Melbourne, FL. $800/mo HOA. Won't have to be assessed until 2041 I think with the new laws. 3/3 630K with Indian River views. I'd consider it but it's too far from my hubby's job.
*10% reduced price doesn't matter when prices have increased 50-100% in 3 years.*
Buying and selling homes is stressful at the best of times. Economic uncertainty is the cream on top. Patience folks, my prediction this won't end well.
What do you mean by this won't end well? Care to elaborate?
The Greater Toronto Area in Canada is a dumpster fire.
Yeah, but houses only go up. Sarc
Michael, we may not want to hear the gloom and doom but we need to. It helps us prepare for the future. Good to hear you play guitar. I bought my first guitar when I retired a couple of years ago and I’m having a blast learning to play. Thank you.
Fairly affluent neighbourhood where my parents live in Toronto, a house just sold across the street from them for $1.2mil, when a couple of years ago it would've sold for north of $1.5mil easily, and now it sat on the market for a month and a half, listed for $1.3mil and sold $100k light.
Light
2011 - I lost $500,000 on paper on my $1.5 million house bought for $268,000. The market was stagnant for 3 to 6 years after that drop. Here it is 13 years later and happening again my $1.5 million house hasn't dropped as of yet, but I anticipate it will drop about $500,000 on paper.
@@socal_2498 “On paper “ doesn’t mean anything.
You are the normal average person😊 I'm in the same boat and expect the same outcome😂
Homes are for living in, not investment, so the paper value being high only makes your assessed value and therefore property taxes and insurance higher. For people staying put, low valuations are a good thing
@@MereAYT That’s their own personal assessment. You are correct, on paper means nothing. The property appraiser will tell them what to pay in taxes. 😆
@@MereAYTfixing up and selling my primary residence...
.is also my primary income
Price History is something I used to love researching after the last bubble collapse.
Florida California and Arizona were the worst as far as the bubble collapse.
I find it very entertaining thanks for sharing
1:20 they just bought it one year ago for $250,000. it sold in 2019 for $162,000. it sold in 2012 for $115,000. AND HERE IS WHAT MATTERS....it sold in 2004 for $158,500.
Similar situation here. British Columbia. Near Victoria. I sold my house in 2019. New owners are selling it (they have other houses) and it has languished for some time now after a previous red hot housing market when things were selling in days. They've reduced the price by well over 200K and STILL not sold. (Edit: Just looked it up. Nearing 300K now). They redid the kitchen (put in long marble countertops), new roof, and reconfigured the layout. Also 8,000 a year property taxes and the other utilities, insurance etc. They never actually moved in. Still for sale, sitting empty. Gonna cost them a LOT when it's all said and done.
Why didn’t you talk about Big Lots Bankruptcy?
You're so correct about the shenanigans Michael. We're headed for a depression.
That is a nice neighborhood you are walking through. There are some beautiful homes there and I saw some very cool topiary.
It sure is
Thank you to our host for this wonderful outdoor walk-around segment.Time for you to return to Florida. Our ambient daytime high temps have plummeted to 94 degrees
Frigid 77 degrees and low humidity here in BFE Indiana.
It's just terrible! 😅
😮@@googleuser868
Thanks, Michael! I’ve done some terrible things for money.
Like, getting up early to go to work.
Thanks for keeping it real, it’s economic, not political. Banking and finance could care less about the politicians. They care about global economies and businesses.
Money printing, 46.4% proposed capital gains tax, expiring 2018 tax cuts. It's totally political. Change the channel and find out what is happening
Hi Michael, hi Lisi !! 👋🏻 Enjoy that California sunshine!
Hi Denise! Thank you very much!😊
Great report. Humid as hell here in Florida.
Which inspired Willis Carrier to invent air conditioning in the 1902 . Count your blessings .
At 5:22 - a gorgeous Z car! And in California, they hardly even rust!
I saw this coming well over a year ago, sold my house, my car, and sold and gave away everything else ! "Truck loads to Goodwill"
Now I ain't worried about shit...
Saw one in Breckenridge, CO, listed for 4,295,000 , had a 3.9 pending then month later or more sold for 3,150,00.
Your guitar sounds great Michael. Thanks for playing some tune for us.👍
My pleasure!🤘
Also, any house in California that sells for >$5mil has an additional 4% tax “mansion tax” applied to sale
I am waiting for property taxes to start falling. I am tired of these 5 digit increases. Enough is enough already!
@@michaelelliott2946 they will never fall, due to inflation all the costs the local GVTs will only rise. Taxes only ho one way, you pay your 'fair share ' which includes the cost of supporting those who are 'taxtakers', their numbers it seems never shrink, only grow while the number of TAXPAYERS shrink. Pretty basic explanation of SOCIALISM. When people are not allowed to live a better life because they earn it everything positive about a good work ethic dies.
You need to look at how your property tax assessments are calculated in the market you are looking at. In CA where Micheal is they have Prop 13 that limits the max increase of the property bill to 2% a year. So once people get in, they don't have to worry about property tax increases forcing them out of the house.
@@JBoy340a did it ever occur they might change the law?
@@JeremyLamb-t7m Prop 13 has been around since 1978. It is very much a part of the state's home owning process. The have tried to change it over the ywars, but each time any change gets water down with other provisions. Such as Prop 19 that added some limits, but to get it to pass they had to let you cost bases 3 times if you are over 55. Propositions in CA are voted on by the voters, not something the legislator passes.
@@JBoy340a you said it has already changed and I am sure the state will find a way to change it. We also have laws against illegal entry into this country, right? Laws against theft, murder, living on the streets in makeshift camps, and even jawalking. They make laws to ignore. But try not paying taxes... if the state has a choice of how to raise more in taxes the will have no option except more taxes, the produce NOTHING, well nothing but debt. What do you think they will do to raise more revenue? They might even create a new tax on the basics of life... just watch and see... like the tax on unrealized capital gains...you know, they just might figure out how many breaths you take and slap a tax on that.
Great insight Michael, awesome to see some guitar playing at the end, Rock on!
Glad you liked it!
I love listening to Mike. I can see what he says is happening going on around me. The big shot financial gurus could learn from this guy.
1:50. What was the value in 2019?
Currently renting a place at 19% of our take home pay, paying off our remaining student loan, no credit card or car debt, no kids, saving up for a large down payment, and patiently patiently waiting to make a move in the housing market if the time is right.
Currently watching Netflix 😂
100%. Same situation for us.
@@beckytourian Best of luck to you 🤍
Guitar for me , as a drummer of 50 yrs, is all about the tone. You definitely have the proper tone in my humble opinion. 🤘🏻💥☠️
Wow, thanks!😊
We also watch Ben Grieco, a SW Florida Realtor. In his last video; “The hits just keep coming in SW Florida” he featured a house that’s price was reduced $500K and sold at $865K which is a 37% reduction.
Great info Michael! Nothing is more convincing than numbers.
Dude, I didn’t know you played guitar. I used to play out. Live all over the place. We need more of that. Sounds cool.
Lol because of last pandemic lots of people claim they play 😂
Me too. I am a semi pro guitar player and waiting for end of this video. I am sure he will play something bluesy.
My home insurance went up 27 percent with our renewal. So we sent our agent shopping. We found a better rate but we were told bc the arial shot of our home had branches over the home, any new insurance could threaten to drop us if we don't fix it. Oddly enough we had just paid $1200 for all branches to be pulled away from the home 3 months ago like we do every 2 years. I took pics showing nothing was over or near the home. Anyway thought I'd share this! I'm waiting to see what we do next. Lol.
What insurance company did you find was the most competitive?
They must have been using old drone videos lol
I started with Ukuleles, taught myself how to play. then I saw a beautiful antique acoustic so I bought it and started learning. I just bought my first electric guitar and my amp arrived yesterday EEEEEEEEeeeeeee.
Great commentary. I went to Inverness Florida this summer to look for a second home. Blew me away. Data available wasn't recent, and indications of comparable homes showed more costs related to Insurance and Property Tax than I expected.
Zillow jack up the price in Summer 10% then the play the game label cut price 15% - the desparate selling home trick.
Love the black strat! Totally agree with your economy assessment. I’m a CRE developer. Things I’m seeing don’t add up
I’ve had my house for sale for the ENTIRE 2024 year. I’ve had 2 contracts signed. BOTH fell through just mere days before closing. Still on the market, having to slash the price, and still no buyers. As it stands right now, I’ll lose somewhere around 60k on a 350-400k house!!!!
When did you buy it and for how much?
Please don't eat the public ducks
Tell it to the Haitians.
I love duck
People are selling because they are trying to survive this inflation. Right now it's worth it to them to sell and buy a small place.
Bad ass guitar solo!
The price of my house, I fear, is plummeting. I'm here in Fairfield, CA. six months ago my house was worth $ 725k. Now, I hope $700k. I'm planning on selling soon and moving to GA. My only hope is that houses in GA are also decreasing in price.
A couple of the best places to live is Alpharetta and Cumming GA which are suburbs north of Atlanta.
At least Georgia has affordable homes.
but did it just double or triple in the last 4 years? my point; it NEVER should have been worth $725.
Down 3% plummeting
@@jeffreybaier5312You are directing him wrong. The highest taxes in GA. Overrated and overpriced
I'm guessing that the rocker in you led to your cool demeaner. Rock on my friend, and thank you for your insight.
You bet!👍
Just don’t sell it, rent it, and wait a few years for inflation to save your ass
🤑🤑
Huge hedge funds caused a lot of this mess. After getting HUGE TAX CUTS in 2018. They got greedy and started buying up houses and whole subdivisions. People selling should still make money with how much home values have skyrocketed. Covid and supply chain issues caused majority of our inflation. Will take awhile to lower. But it's getting better. Lowest in the world. And best economy in the world for a reason. Record traveling and spending shows that!
My thumbs up is for the guitar riff at the end of this. Nice.
Best part Michael playing guitar! Style is totally my vibe! 🤘🏼
Thank you!🙏
Yes, Michael. It's amazing to see a year ago. Trucks that were a 100000 dealership are reducing prices up to $40000 off these vehicles and still can not sell them.
What brands are these? I have been looking for a cummins diesel.
you are a liar. show me a truck listing with a 40k mark down.
Timing is everything
Preach it, brother Bordenaro, keep on preaching this holy message! Its music to my ears. I'm licking my chops, getting ready to leap soon.
I sold my townhome last March (long story) when inventory was at an all-time low in OC California. I'm in a so-so apartment waiting for my chance and saving money. I'm believing that I'm going to end up a lot better off than I was. With so much at stake in the presidential election, and interest rates dropping, it makes absolutely no sense to buy now. Inventory has doubled in my area since I sold.
california is equals to Mexico or Guatemala .
Not much at stake, both parties are essentially the same
Prices on Trucks dropping Fast. Just got a New Ford Raptor R for $144,000. It was $165,000 and they dropped it quite a bit. Thank you Kamala ✌🏻🇺🇸🇺🇸
Unfortunately in my area the prices are still going up, patiently waiting for them to start coming down they are so overpriced
I have to say that home prices are way out of control for the past few years each time a house was bought and sold the price doubled now quadrupled. Ridiculous so who's loosing are the people that paid an inflated price and now have to sell. While the everyday joe has been priced out of even a basic house.
Keep being honest. Don’t listen bad comments.
The dreaded falling knife 😱
Michael are HOA fees a monthly lifetime fee that comes with buying a condo even after the condo is paid for... make it make sense 🤔🧐
Lifetime
HOA fees are supposed to be for maintenance of building, grounds, roads, gates, gatekeepers, pools, pool boys, trash pickup, etc. Forget Diamonds! HOA’s are forever. Avoid condos. Like condoms, they’re not 100% reliable.
Right!
It’s called affordability.
I live in a condo in upper middle class gated community with total monthly household living expenses(utilities,property tax,insurance,condo fee,food,etc.) of less that $1400/mo..
Paid off in 2008. Retired in my 40s.
Also a condo in Florida I paid cash for in 2008 after crash with total monthly living expenses of $2200/mo..
Can’t complain.
The guitar playing is awesome! More of these endings! 😊please!
Will do!
So happy I sold 7 months ago and I twice the worth 😊
Makes no sense what you said.
Now you're homeless, congratulations
Clarification needed . Are YOU worth twice as much as before or the HOUSE ? Just asking for a friend .
with that first condo with 100k price reduction, the real issue with that is they bought it 1 year ago for 250k so there is still plenty of room to come down imo. It also sold in 2019 for only 162k which is probably about the right price for something like this not 400k like they were trying to get. Delusional
I hear some black sabbath influence in that playing.
Memory Remains
18:16 MICHAEL BORDENARO ROCKS OUT ON HIS GUITAR 🎸🎸🎸🎸🎸🎸
You don"t need to be a genius to predict american economy is in danger.
Fact! 👍🏽
The ending of the video is epic! Go Michael! Love it!
I'm sure the neighbors in your condo love the guitar.
😂💥
😅
Not in Nj, houses still selling over asking and some people still waiving inspections and appraisals.
The rich selling their 2nd and 3rd Manhattan apartments for a house in NJ, right?
At some point you are going to take a walk with a positive slant..NOT
Most of the 2021 buyers in Florida were northerners and many of them can't take the difficult climate of florida, especially the September humidity right now which is higher than the whole rest of the summer, and they got their new insurance bill or HOA bill or tax bill for their single-family home and have decided to go back from whence they came
And other people replaced them.
Nothing new.
Its not a decrease unless it sells under what it was purchased for
Depends in cost of ownership and inflation. Takes a lot more dollars to buy the same thing over time. If you don't match real inflation it's a loss.