This is blackpilling America; no one will want to work in this economy

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  • เผยแพร่เมื่อ 26 ม.ค. 2025

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  • @rnt45t1
    @rnt45t1 3 ปีที่แล้ว +1497

    I am total blackpill at this point. Given up on ever finding a girlfriend, marriage, having money saved, having basic civil rights, and definitely homeownership. It's impossible.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +354

      How old are you? What do you want to do? What, if anything, did you go to school or are you educated to do? What do you do right now? What challenges do you face that are the biggest obstacles in your personal life and your quest for happiness? I'm curious. Thank you for sharing.

    • @moneybuas4942
      @moneybuas4942 3 ปีที่แล้ว +79

      this just means that typically the person doesn't want to responsibility and see the faults they have and work on it.

    • @carepackageman
      @carepackageman 3 ปีที่แล้ว +138

      @@rossmanngroup Im i the same boat as Ray T. I have two engineering degrees (nuclear and civil). Im 30 and am earning 50k a year where 400 sqftcondo is 700k. Im waiting for my parents to die so I may get a little bit of a down payment. My only hope is that my parents die.

    • @popowczare
      @popowczare 3 ปีที่แล้ว +124

      @@rossmanngroup similar here. Finance accounting and econ degrees. Doing mind numbing work that produces nothing real is worse then being unemployed (was making 60k+). I would need almost 200k for a downpayment were i live to get into a house that i cant then afford the mortgage on. I think what you miss in your analysis is that most people now a day are not using their brain to solve issues and advance things its just repetitious box checking and paper wealth creation, ( I think the fact you are a business owner building a business is why you view this differently), and that remaining in the race is not better then giving up. Why tire and waste your time if your not actually gonna get to the end point like the other people running. What you are missing is that this is as bad in most white collar jobs as it is entry level blue collar jobs, everyone my age (mid 20s) absolutely despises their job and is weighing giving up totally at any moment.

    • @dukewellington7050
      @dukewellington7050 3 ปีที่แล้ว +268

      @@carepackageman if you have 2 engineering degrees and only making 50k a year with no investments or passive income at 30 and simply waiting around for your parents to die so you can leech off their remaining wealth... Sounds like you make bad personal decisions. Probably doesnt help that you view your parents merely as a financial vehicle for your own ends. I need a shower after reading this. Gross

  • @kingbugs3558
    @kingbugs3558 3 ปีที่แล้ว +685

    People can't afford to live as adults in neighborhoods that they grew up in, doing the same jobs their parents did.

    • @NeverTalkToCops1
      @NeverTalkToCops1 3 ปีที่แล้ว +9

      Well, that's been true since 1970.

    • @kyleshockley1573
      @kyleshockley1573 3 ปีที่แล้ว +31

      @Rich Smith Exactly. Home owners and their property values are the new 3rd rail of American politics. No thought for how keeping it inflated in the now is tossing at least 2 to 3 generations' future to the wind, so long as the older voting bloc isn't upset by a market and interest rate reset back to presumably saner levels.

    • @InfernosReaper
      @InfernosReaper 3 ปีที่แล้ว +17

      @@XanVicious Hard to blame the boomers when that generation just before them did Worldcom and also stole the boomers' retirement funds.
      That said, it's still baffling how houses that are almost as old as I am are treated as investments and haven't devalued much despite having 3 decades or more of wear and tear.
      My friend bought a house that's older than him and they still wanted to try to charge around the same as what comparably-sized new houses in the subdivision across the street cost. Uh, no. That plumbing's got maybe 20 years left on it at best before something major breaks and it's a slab foundation. That doesn't even get into the roofing which was going to have to be redone within 10 years.

    • @arnowisp6244
      @arnowisp6244 3 ปีที่แล้ว +29

      @Rich Smith Democracy is two wolves and a sheep deciding what's for dinner.

    • @flamezamster
      @flamezamster 3 ปีที่แล้ว +49

      @Caleb Brewster both parties are trash. Don’t let your bias stop you from seeing the bullshit.

  • @gabrielfair724
    @gabrielfair724 3 ปีที่แล้ว +413

    The way they used to get people to work was by making sure a job enabled you to have a home, a family, stability, etc. If that isn’t true anymore why should anyone work?

    • @gabrielfair724
      @gabrielfair724 3 ปีที่แล้ว +125

      While we’re on it, there is not such thing as “unskilled labor”. The concept does not exist. You cannot take a boardroom CEO and dump them at their dock and call them a longshorman and expect them to perform flawlessly. Its a fake idea designed to depress your wages.

    • @phoenixpr100
      @phoenixpr100 3 ปีที่แล้ว +76

      @@gabrielfair724
      Plus the Fake Stream Media constantly lying about America 🇺🇸 having an
      "Labor Shortage"
      What is really going on is an unofficial
      "General Strike"
      Because workers are experiencing
      - Living Wage Shortage
      - Hazard Pay Shortage
      - Childcare Shortage
      - Paid Sick 🤮 Leave Shortage
      - Healthcare Shortage
      - Pension/Retirement Availability Shortage

    • @manictiger
      @manictiger 3 ปีที่แล้ว +40

      ​@@phoenixpr100
      On top of that, they're getting fired for not being obedient slaves and allowing one of the least trustworthy systems ever concocted in the last 1,000 years to inject them with experimental crap that was unlawfully rushed through phase III trials by an entity (FDA) that has been known to collude with big agri and big pharma.

    • @yosefmacgruber1920
      @yosefmacgruber1920 3 ปีที่แล้ว +5

      Then we should fire our employers and work for ourselves. But how?

    • @yosefmacgruber1920
      @yosefmacgruber1920 3 ปีที่แล้ว +6

      @@phoenixpr100
      We the needed workers, are not slaves. We can read and we have internet access. We never agreed to take the latest trendy unsafe "poison jab", the so-called "social contract" has been clearly violated by the evil deep state and Left, and how did it become such a "religion" with the Left, to pretend like natural immunity is not a thing? How did we go "from hero to zero in less than a year"? We the workers, are tired of getting dumped on. Where are our rights? Where is our cost-of-living increases? If stores do not have what we need, then why should we work? So we can buy a house? Then why aren't we building more homes for people? Why do we have this illegal not-elected regime trying to destroy energy independence, freedom, and the dollar? When is Current President Trump coming back to set things right? Some people are never going to wake up apparently? We can not wait on them.
      Seems like "The Great Resignation" is so long overdue. Hopefully things will change for the good? But how much longer must we wait?

  • @metazare
    @metazare 3 ปีที่แล้ว +681

    This is how the "You'll own nothing and be happy" model starts, make it impossible to own a home or even rent an apartment by yourself. The only question is when do the corporate entities we all work for begin "Renting" space to employees? Imagine if every mcdonalds had a small building off their parking lot to house the 12 employees who work in the place. They "rent" the space from mcdonalds who in turn takes 90% of all the money you might earn as rent.
    Now imagine that on a nation wide scale.

    • @yirawls
      @yirawls 3 ปีที่แล้ว +102

      Its not even difficult to imagine it's just the enlisted man's experience

    • @metazare
      @metazare 3 ปีที่แล้ว +56

      @@yirawls That one hadn't even crossed my mind but you are absolutely right.

    • @EliteSniperTV
      @EliteSniperTV 3 ปีที่แล้ว +121

      Amazon and Tesla are already on it. Mining towns are back and it's disgusting

    • @TarsonTalon
      @TarsonTalon 3 ปีที่แล้ว +88

      Yet if you ever talk about burning it all down, you're the bad guy. It's better to just make an escape plan than plan a revolution, because too many people would rather be slaves than stick their neck out.

    • @victormendoza3295
      @victormendoza3295 3 ปีที่แล้ว +13

      Ha the fast food place down the street has 2 apartments on the 2nd floor.

  • @jjcoola998
    @jjcoola998 3 ปีที่แล้ว +847

    I can’t imagine kids growing up hearing about how people payed for college with their summer jobs , bought houses with jobs that now pay hardly enough to live with three roommates etc.
    Just remember the MINIMUM wage from the sixties would be 20+ an hour in today’s buying power the next time you hear someone telling you you aren’t working hard enough or some other boomer cope

    • @Turbotef
      @Turbotef 3 ปีที่แล้ว +63

      Yup, they got theirs so fuck the rest seems to be their underlying mantra, this is why I have no issue fucking them over and making them cry about how and why I vote. I also went all in on the stock market 6 years ago and now sit in a very comfortable spot after getting lucky on shit. I still fuck with the old assholes (not all of them, there are more left-leaning Trump hating people in their 50s-70s around here than I thought) and like seeing them cry communism and socialism from their butt buddies on Fox News.

    • @mctransportation9831
      @mctransportation9831 3 ปีที่แล้ว +14

      The WSJ says it was equivelant of $12 an hour. Though it's not the federally mandated minimum wage, $12 an hour can be easily earned by people with no skills. There are challenges, but there's never been an easier time to start a successful business. Which is good, because it seems like they may be the only way to keep up with or beat inflation.

    • @ZodiacEntertainment2
      @ZodiacEntertainment2 3 ปีที่แล้ว +88

      @@mctransportation9831 A vast majority of businesses fail; just "starting a business" is not a solution.

    • @aphilipdent
      @aphilipdent 3 ปีที่แล้ว +11

      Corporate and real estate greed (which are tied together even more today) are killing the country. The COL increases are 2-3% the companies will charge within a few cents of what their competitor charges not how much it costs them to produce. Rental corporations have in the lease an option to charge you five to eight percent increase on your rent. Everybody's going to continually fall behind.

    • @ericniesen9361
      @ericniesen9361 3 ปีที่แล้ว +20

      @@mctransportation9831 pretty widely reported it’s close to 24$ per hour

  • @illuminaughty4551
    @illuminaughty4551 3 ปีที่แล้ว +185

    In 1973 my parents bought a 1,300 square foot house in Los Angeles for $17,500, and sold it for $75,000 in 1989. Today (2021), on Zillow it's on the market for $1.3 million.

    • @no-rz9ed
      @no-rz9ed 3 ปีที่แล้ว +10

      classic

    • @realSamAndrew
      @realSamAndrew 3 ปีที่แล้ว +5

      Last week DWACW or DWACU stock was around 44c per share $0.44. This week it went for something like $75 per share, a 170-fold increase in less than one week. All bc Trump started a social media company.

    • @rednola9892
      @rednola9892 3 ปีที่แล้ว

      what were the interest rates in the 80s?

    • @selveneleven
      @selveneleven 3 ปีที่แล้ว +4

      Holy shit man. That's fuckin insane

    • @illuminaughty4551
      @illuminaughty4551 3 ปีที่แล้ว +5

      @@rednola9892 If I recall correctly interest home interest rates in 1973 were around 5-6% and in 1989 they were 9 - 11% which were much lower than in the early 80s at almost 20%.

  • @chancetempleton3829
    @chancetempleton3829 3 ปีที่แล้ว +992

    Blackrock's got no problem buying homes. ...nice to be near the "free money" spigot.

    • @Btn1136
      @Btn1136 3 ปีที่แล้ว +148

      This should be an easy regulation. Stop institutional investors from keeping people from owning homes.

    • @LowBudgetHighRollers
      @LowBudgetHighRollers 3 ปีที่แล้ว +20

      And BlackStone

    • @LowBudgetHighRollers
      @LowBudgetHighRollers 3 ปีที่แล้ว +90

      @@Btn1136 They was working on concert with the Federal Reserve. Government is not the answer. They are bank rolling them.

    • @SimGunther
      @SimGunther 3 ปีที่แล้ว +33

      That fear alongside money printing is exactly why demand for homes is going up. Boomers retiring from home construction doesn't help matters either as there aren't enough skilled workers there to go around and material goods just aren't being delivered because muh mandate, delaying home projects as a result.

    • @Btn1136
      @Btn1136 3 ปีที่แล้ว +7

      @@LowBudgetHighRollers yep- I think you’re right.

  • @xjet
    @xjet 3 ปีที่แล้ว +819

    People have been stealing from future generations (by way of inflating house-prices) for quite a few years now. Those already on the property ladder are doing very nicely but young people yet to achieve that first step may now never reach "property owner" status and thus be forever disadvantaged.

    • @docgiggles130
      @docgiggles130 3 ปีที่แล้ว +46

      Prices in my area are shooting higher and higher because there are fewer places to live than people trying to find a place to live. We are the point that there are 4 homes for 5 families looking for them. Some have said that we just need to build more places to live, but we don't have enough room for as many as we need now and people are filing lawsuits to block apartment building from being built. They only want single family house in their area. People are so short sighted that they haven't figured out that their kids will have no choice but move out of the state just so they can live somewhere other than their parents basement.

    • @trashmann9971
      @trashmann9971 3 ปีที่แล้ว +42

      @Swim Fan In terms of varied sources of income and dollar amounts, they aren't wrong. But what you can buy with that money? Jack and maybe a little shit if you feel like living it up.

    • @pyotrilyichtchaikovskyii6638
      @pyotrilyichtchaikovskyii6638 3 ปีที่แล้ว +33

      @Swim Fan There's never been so many opportunities, but most jobs never paid so fuckin bad, especially the heavy kind.

    • @AbrahamsYTC
      @AbrahamsYTC 3 ปีที่แล้ว +64

      The problem is the majority don't know why things are the way they are...and so they keep pushing for many of the things that would further worsen conditions.
      The Fed/Gov is stealing from them year by year through inflation...they spit out manipulated CPI numbers and say, "see, we only had .1% inflation for the whole year". When we SHOULD have deflation. But they pump so much dumb money through low rates and monetizing of debt that they cancel out any good deflation that should take place.

    • @Unsensitive
      @Unsensitive 3 ปีที่แล้ว +24

      Quite a few decades now, you mean.
      I was lucky to get in before prices jumped again after the 2007 house crash. While I don't feel I overpaid, I definitely didn't get an amazing deal then.
      My home is worth about double what I paid. My salary is up probably 25%, but this is mostly all merit, not inflation adjusted. Merit is at least keeping up with normal inflation, but definitely not home values..
      I get at least 5-10 calls a week from different annoying people, with the same script, wanting to buy my home. I don't even try to be polite anymore, and simply hang up on them when I hear "I'm calling about your property on X". They're not worth my time to get angry about.

  • @LetsReinharder
    @LetsReinharder 3 ปีที่แล้ว +310

    Look at Ukraine to see where America is on track towards. 2 classes of people: landowners and renters. That's it, no middle class and no upward mobility.

    • @jonothandoeser
      @jonothandoeser 3 ปีที่แล้ว +85

      In a word, a return to Feudalism. (not an accident)

    • @_DeathDreams_
      @_DeathDreams_ 3 ปีที่แล้ว +32

      Damn, that sounds like what a certain German philosopher/economist from the 19th century wrote about...

    • @ukashi694
      @ukashi694 3 ปีที่แล้ว

      @@_DeathDreams_ Which one?

    • @LetsReinharder
      @LetsReinharder 3 ปีที่แล้ว +13

      @Alexander Jossart Nothing terrifies me anymore. I'll just live to fight and die as either a petty bandit or a historic warlord should we fully go down that path.

    • @antodovodja1110
      @antodovodja1110 3 ปีที่แล้ว +5

      @@ukashi694 Karl Marx

  • @TNinja0
    @TNinja0 3 ปีที่แล้ว +269

    I heard people in the 70s could buy a house with just one job
    Sounds fun

    • @Ashendal
      @Ashendal 3 ปีที่แล้ว +97

      Those same people could get a job with no college degree as well. They then turned around and decided to pull the ladder up after them, mandated college degrees, and started buying up multiple homes as "summer" or "winter" properties. There's a reason that group gets as much hate as they do. They were the most spoiled generation to ever live and made more problems for us than even the ones that allowed the "federal" reserve.

    • @shadow7988
      @shadow7988 3 ปีที่แล้ว +51

      @@Ashendal Yuuup. I quietly smolder whenever my Gen X dad talks about how he got into software development by just showing up, literally knowing nothing, and got his own office and just learned coding while on the clock because no one had any real standards since it was new, and now decades later makes nearly half a mil annualy. Meanwhile I had to spend a year of learning, coding bootcamp, and project building just to even get an email reply, and if I'm lucky I'll win the privilige of going through a 3-5 round interview loaded with tech trivia and BS algorithm grilling exercises on a white board where I must have bullshit no one manually does perfectly memorized 'Because Google does it in their interviews!'. And then just get turned down because they found an H1-B to do it for cheap from some recruiter company anyway.

    • @mikedodd9294
      @mikedodd9294 3 ปีที่แล้ว +10

      women entered the workforce causing massive inflation. inflation sucks! You think its bad now wait until Congress passes a TRILLION dollar stimulus bill, prices of everything are going to go sky high.

    • @taragnor
      @taragnor 3 ปีที่แล้ว +22

      It's what happens when you flood the labor pool. America has this stupid idea that it's a good thing if everyone works and people are so concerned about freeloaders, but that just creates a flooded labor pool where the value of labor goes down. The problem isn't inflation, it's the fact that wages aren't going up to match inflation like they should because the labor pool is massive and the price of labor is dirt cheap. As we automate more and more, fewer workers are actually needed, yet the underlying system hasn't adapted to that. Instead we've went the opposite direction and doubled down on the "Everyone must work!" philosophy that just ends up screwing everyone because it undervalues labor.
      This isn't a new idea when it comes to supply/demand. The Agricultural Adjustment Act specifically pays farmers not to plant on part of their land, because creating a big surplus is bad and ultimately screwed over all the farmers. We really need to adopt that same ideology towards labor. This is the age of automation, we should have less people working, not more.

    • @RepublicanJesusthe2nd
      @RepublicanJesusthe2nd 3 ปีที่แล้ว +1

      One income.

  • @EEVblog
    @EEVblog 3 ปีที่แล้ว +2336

    If you think house prices are crazy now, you ain't seen nothing yet.

    • @ShadowLancer128
      @ShadowLancer128 3 ปีที่แล้ว +89

      Well we're set to see a mass of evictions in the coming months, and that's going to drop home prices at least a little bit.
      Is there something else you think is going to explode the price of houses??

    • @falcor200
      @falcor200 3 ปีที่แล้ว +70

      @@ShadowLancer128 I'd guess you'd see a crash happen, people will then be able to afford more houses. Theybwill buy in spades, but it'll make the bubble bigger then that'll be the big crash. Who knows it's all a guess game until people are jumping from windows again.

    • @leshiro5574
      @leshiro5574 3 ปีที่แล้ว +58

      Violence is inevitable huh?

    • @DAndyLord
      @DAndyLord 3 ปีที่แล้ว +73

      @@falcor200 I think the prices of houses is correct. I think inflation hasn't caught up yet.
      This is gonna be a scary ride.

    • @Criminalupper2200
      @Criminalupper2200 3 ปีที่แล้ว +169

      @@ShadowLancer128 no, it's gonna raise them as Blackrock and other massive firms come in with their basically limitless bank accounts to buy everything up
      then once they own all the property they can just set the price to whatever they want. remember, these companies never spend money unless they think they'll be getting more money then they spent.
      either the prices get raises skyhigh, or they never sell them at all and renting becomes universal. and also rental agreements will probably be badly in favor of the owner.

  • @LazerLord10
    @LazerLord10 3 ปีที่แล้ว +959

    As a young single guy looking to buy a house, even with a good paying job, I'm scared shitless about what the heck the housing market is going to do.

    • @rushthezeppelin
      @rushthezeppelin 3 ปีที่แล้ว +68

      This, even if you have the means to get in you don't want to because the housing market is so overinflated.

    • @sidecharacter7165
      @sidecharacter7165 3 ปีที่แล้ว +44

      Well there is a worse housing market bubble than a decade ago. When it pops the prices will drop massively.

    • @caboosemusic123
      @caboosemusic123 3 ปีที่แล้ว +58

      I'm in the same boat.
      Got a good salary as a programmer in Romania, with a salary about 3x the average but cannot buy a house.
      Housing market sucks so bad.
      Can't wait for this stupid bubble to burst.

    • @brokenhalo22
      @brokenhalo22 3 ปีที่แล้ว +12

      Same. Just keep saving and wait/hope for the crash.

    • @TheWrigle
      @TheWrigle 3 ปีที่แล้ว +21

      @@brokenhalo22 the prices of absolutely everything are inflating right now. I don't know if we are gonna be able to bring that inflation back down. If we can't, the inflated housing costs aren't going anywhere and waiting to buy is just inflating savings away. The house I bought 6 months ago for 399k is now worth 480k. That is a great yearly salary increase in just a year. I work as a development Engineer at a cycling company, and we have seen our quotes from manufacturers increase like crazy. Products that would have been profitable at an msrp of $100 now need to sell for $130 to be profitable. I hope things come down, but the fact that currency inflating just helps those with power at the top doesn't have me super hopeful.

  • @generalharness8266
    @generalharness8266 3 ปีที่แล้ว +216

    Buying a home 3 bedroom this Friday.
    To get the deposit,
    I did not drink
    did not smoke.
    Did not party,
    Worked pretty much nonstop for 10 years.
    Lived with my parents.
    Now looking to finally pay it off when im in retirement...... So living the rest of my life in debt.
    Compared with my parents generation, who could afford a home at 20 fully payed off in 10 years.......

    • @admiralackbar4652
      @admiralackbar4652 3 ปีที่แล้ว +16

      Life is tough, I wish all the best sir

    • @generalharness8266
      @generalharness8266 3 ปีที่แล้ว +3

      @@admiralackbar4652 Thank you.

    • @DML40877
      @DML40877 3 ปีที่แล้ว +7

      @@generalharness8266 congrats on the house

    • @coastcity7029
      @coastcity7029 3 ปีที่แล้ว +6

      Your home will likely go up in value, you can rent out rooms to make extra cash...congratulations on your new investment that might make you more than your salary over the next few years

    • @0xsergy
      @0xsergy 3 ปีที่แล้ว +3

      @@coastcity7029 or sell at the peak for a profit. This has to burst..right?

  • @joshuathomas4934
    @joshuathomas4934 3 ปีที่แล้ว +1320

    Louis makes a really good point that no one talks about. And it’s true. I myself am an hvac tech trying to start my life out right now with my girlfriend. We live in CT and it took us a year to find a crappy apartment for a ton of money. We both make okay money. I’m scared I will not be able to buy a house. The prices ran away right when I was getting into the market. Very sad. :(. I hate knowing that my dollar is losing its value. Most days it’s hard for me to go to work emotionally because I work so hard for what seems like a lot. But in reality is so very very little. I hope to own a home someday. But if I start to feel like working isn’t going to get me a basic home, and retirement someday. Screw it. I just will work a lower paying job and enjoy my time off from work. The blackpilling has been happening for a long time. Corona just accelerated it.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +282

      I'm sorry my friend. I understand the feeling.

    • @furyofbongos
      @furyofbongos 3 ปีที่แล้ว +31

      Put some money in a low-fee S&P 500 or total stock market index fund every 2 weeks and close your eyes. Live somewhat frugally and you'll be able to retire by age 60 at the latest.

    • @Solo413
      @Solo413 3 ปีที่แล้ว +122

      Yep, the Northeast is a joke. Move South while you two are young and you can absolutely still own a home. Just remember to keep the "woke" bullshit and voting up North.
      Don't run away to freedom only to make the place you're heading to exactly like the place you just fled.

    • @1960ARC
      @1960ARC 3 ปีที่แล้ว +60

      Move somewhere cheap. That's actually all you can really do. The system is designed to keep you poor. Live in a trailer if that's possible. The saying the rich get richer and the poor get poorer is a reality.
      Don't be a consumer, get what you need. Not what you want. Owning your home is in the direction of being free, but when did you agree to pay property tax? You can't really be free, it's a bit like an open prison, the scamdemic just made it more of a prison.

    • @davidwarford3087
      @davidwarford3087 3 ปีที่แล้ว +43

      @@rossmanngroup Just starting out investing I made a shit ton of money off of tesla.
      In a normal economy I would be able to afford a house because of that.
      But alas, I can't and my normal income is very low.
      Then again an economy where I can make a shit ton of money off tesla is probably not a normal economy in the first place.

  • @TidalWaveDan
    @TidalWaveDan 3 ปีที่แล้ว +505

    What you’re describing here is precisely the point where societies collapse.

    • @Chasing-the-outdoors
      @Chasing-the-outdoors 3 ปีที่แล้ว +31

      I’ve been shocked that the economy hasn’t even dipped in the last year. How is that even possible?

    • @TidalWaveDan
      @TidalWaveDan 3 ปีที่แล้ว +59

      @@Chasing-the-outdoorsall the printed money hasn’t made its rounds yet.

    • @kylehart8829
      @kylehart8829 3 ปีที่แล้ว +30

      @@Chasing-the-outdoors The economy has dipped massively. But inflation isn't calculated with housing prices in mind because this isn't a nation where actual quality of life is relevant to the people who have virtually all the money. Making Wall Street look better by artificially lowering apparent inflation is part of the thin veil making capitalism look like a functional system.

    • @bubba6989
      @bubba6989 3 ปีที่แล้ว +17

      @@Keepskatin its not just America.... its Canda, Europe, China, Australia, New Zealand etc.

    • @em3sis
      @em3sis 3 ปีที่แล้ว +39

      @@Keepskatin "poorly regulated capitalism" isn't capitalism. Government interference is no longer capitalism, closer to facism at that point, just not nationalistic in nature. What we are moving torwards is a global facism where its governments vs private citizens.
      If your position is that socialism or communism is the answer, then you're daft mate. There's no difference between a CEO and a politician except that only one can hold a gun to your head legally.

  • @IamTheaveragegamer
    @IamTheaveragegamer 3 ปีที่แล้ว +265

    Another problem is that everyone and their mother figured out they can flip houses. So you have people buy fixer-uppers for like $80k in lower cost areas, they toss some paint on, change the interior, and put some pea gravel in the backyard and then ask for $250k.

    • @emptyvessel3054
      @emptyvessel3054 3 ปีที่แล้ว +34

      GREEEEEEEEEEEEED

    • @mirsolis4992
      @mirsolis4992 3 ปีที่แล้ว +70

      No one has held HGTV responsible for its negative effect on the real estate market and I'm absolutely serious about this. The channel romanticized house flipping and introduced tons of shitty DIYers to the concept so now you have an epidemic of badly reno'd houses at exorbitant prices.

    • @NoName-ik2du
      @NoName-ik2du 3 ปีที่แล้ว +32

      This exact thing happened to the house next to mine. Total pile, sat for a year with all the windows open, was at the point that it pretty much just should have been torn down. Someone snapped it up for cheap, did a bunch of shoddy work to cover up the nightmare that was inside, and then sold it for four times what they paid. The people living it it now seem quite nice and have three kids, and I really hope there's nothing festering in that house that's going to cause them health problems over time...

    • @jaym5087
      @jaym5087 3 ปีที่แล้ว +6

      Well, it only works until it doesn't. House prices/rent only go up because demand is strong. As policies and the economy changes the prices of homes will follow, either up or down. The current system incentivizes borrowing due to low rates and the current rising home price environment. It will end when the system changes or crashes just like it always does.

    • @rickspalding3047
      @rickspalding3047 3 ปีที่แล้ว +4

      My mother lives in a 55 and older area, the corporation slapped these houses up so fast with illegals, everyone has had issues with their houses, some worse than others. And the smallest houses go for 600k, mindblowing

  • @kimsoon6927
    @kimsoon6927 3 ปีที่แล้ว +85

    Who knows whats actually going on in the economy?:
    * One simple laptop repair man
    * All financial and political newspapers combined.
    It is rather tragic when I go to my favourite laptop repair channel to get news on the economy. And even more tragic that I believe Louis to be more truthful than any printed media.

    • @jorden9821
      @jorden9821 3 ปีที่แล้ว +1

      Look up "Austrian Business Cycle Theory"

  • @lerkzor
    @lerkzor 3 ปีที่แล้ว +363

    Been a wage slave since 1984. Only time I ever looked at buying a house was in Cape Coral Florida, in 1993. A 3 bedroom slab-on-grade ranch style house on a tiny lot was 89,000 through the H.U.D. program for low-income people. I just checked Zillow for homes in that same city, the cheapest 3-bed house listed is 213,000. That is a 233% increase, but my wages have not increased nearly that much.
    I am a construction worker, which means that most people will denigrate me for not being some ivy-league office drone, but remember that my job cannot be offshored to India. Oh, and somebody has to actually build the things that exist, new homes don't just magically grow if you water them.
    So yeah - I have spent my life building houses - many of them have been in the 1,000,000+ price range - and there's no way in hell I could ever afford one.
    'greatest country' my eyeball. Perhaps if you make an obscene amount of money it's not half bad, I don't know. Never had the chance to find out.
    I'm still hungry, please pass the bowl of blackpills.

    • @captainanus8131
      @captainanus8131 3 ปีที่แล้ว +21

      Here you go brother 🥣💊💊💊

    • @joshuakuehn
      @joshuakuehn 3 ปีที่แล้ว +6

      Not to disparage, but I worked welding/iron fab and erection from 6am to 2pm everyday and then took community college courses from 430p to 9p for 3 years and got my associates degree and from that for an entry level programming job in the silicon valley. It sucked but it's possible to climb the ladder!

    • @steveogle3679
      @steveogle3679 3 ปีที่แล้ว +35

      @@joshuakuehn Not to disparage. But you are. Sadly.

    • @LembeckIsStaying
      @LembeckIsStaying 3 ปีที่แล้ว +58

      That's the saddest joke of all when it comes to American work. The poor guy who can't even afford the services he provides.
      I heard a story of an EMT who had to uber to the hospital when fell ill because he couldn't afford to take an ambulance.........ya know, the vehicle HE drives for a living! 🤣🤣🤣

    • @rixille
      @rixille 3 ปีที่แล้ว +19

      @@LembeckIsStaying It's something of an irony, isn't it?

  • @leffakis2032
    @leffakis2032 3 ปีที่แล้ว +137

    I agree completely, I'm really tired of hearing people saying "I don't understand why workers are so lazy, and not filling jobs." The blatant ignorance is astounding. I think it's from a point of view that lacks proper empathy because the folks speaking out of their ass like that don't remember or know what it's like to have a shitty job. Good video!

    • @nweeezy
      @nweeezy 3 ปีที่แล้ว +29

      plus, back in the day when they had their shitty job, you could still purchase a home and have a family, even though it was stressful......with today's shitty jobs, that's not even a possibility

    • @leffakis2032
      @leffakis2032 3 ปีที่แล้ว +11

      @@nweeezy yes! Even more to the point! Thank you

  • @RadarLeon
    @RadarLeon 3 ปีที่แล้ว +148

    Glad to see houses I can't afford are now more unaffordable 😑

    • @suroguner
      @suroguner 3 ปีที่แล้ว +8

      and more unsalable too. Can't sell what people can't afford.

    • @Svevid
      @Svevid 3 ปีที่แล้ว +7

      @@suroguner It's called loans and big investment firms!

    • @dcocz3908
      @dcocz3908 3 ปีที่แล้ว +1

      Perhaps Yellen's tax on future (unrealised) gains will include housing and everyone will be forced to sell

  • @Davi-zt5no
    @Davi-zt5no 2 ปีที่แล้ว +4

    Here in brazil is the same, the average month salary is 385 dollars month and a average price for a house with 100m2 is 157,800. Its impossible for new generation own a home with no 20 years loan!

  • @martialbushcraft
    @martialbushcraft 3 ปีที่แล้ว +475

    I joined the Marines at 17. Deployed to Afghan at 20 year old. Know many that lost limbs and one his life. Tried college. Sold guns at a big box operator for years, and worked wildand firefighting the last few years. Louis your videos are HUGE inspiration. Please continue to have your superb intuition of non bias ideals. or at least not letting it get into your opinions. you are a rare bread that i consistently look to

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +153

      Thanks for joining and doing something I will never in my life have the balls to do.

    • @hasanmousa4235
      @hasanmousa4235 3 ปีที่แล้ว +29

      @@rossmanngroup why would you want to be a soldier for the elite that are destroying America right now? That doesn’t make sense.

    • @millll111lllI
      @millll111lllI 3 ปีที่แล้ว +4

      Here’s that attention you were seeking: 🥳🥳🥳🥳

    • @commandershepard9601
      @commandershepard9601 3 ปีที่แล้ว +20

      @@millll111lllI sad little man

    • @ПётрБ-с2ц
      @ПётрБ-с2ц 3 ปีที่แล้ว +11

      @@hasanmousa4235 unfortunately defending country is still their job even if you are right

  • @bradleyblankenship600
    @bradleyblankenship600 3 ปีที่แล้ว +184

    I don't like to complain, because I make a lot of money as a software engineer. But even as a senior engineer, house prices in Seattle are going up faster than my salary goes up (150k to 200k a year in some places). Getting married, buying a home, and planning for kids is something my fiance and I have been building towards. But every month it seems like we slide further and further behind that goal. I can't move to a cheaper state, cause I likely would take a cost of living pay cut combined with an income tax increase. So, it's a wash. Thank you Louis for saying something I've been trying to tell the people around me forever, but it never seems to sink in.

    • @bogstandardash3751
      @bogstandardash3751 3 ปีที่แล้ว +4

      Seems to me if you have no faith that hosing costs will fall in price, and you cannot move out of Seattle, then you might consider simply buying whatever property you can afford which would be profitable to use as a rental unit, thus making you a landlord.
      You will be part of the bubble but you also get to rise with the tide.
      Full disclosure, I've never even been to the USA. Do however own property in the UK.

    • @bat353
      @bat353 3 ปีที่แล้ว +5

      Move to a state with no income tax. It is almost guarenteed to cancel out the pay cut

    • @TheRCish
      @TheRCish 3 ปีที่แล้ว +10

      @@bat353 There is no income tax in WA state.

    • @WhySoLoud
      @WhySoLoud 3 ปีที่แล้ว +4

      @@bat353 And what? Grow beets and sell at a roadside stand?

    • @twiggledy5547
      @twiggledy5547 3 ปีที่แล้ว +3

      Come up north to Bellingham and drive up the prices for us here! Like all the other refugees from Seattle. Seriously this is trickle down poverty

  • @tropicvibe
    @tropicvibe 3 ปีที่แล้ว +247

    When I was a kid my father worked in a factory. He was married, 3 children, had a house, and incredibly, some money in the bank. We ate wholesome food, had decent clothes, and were treated to a movie every month. And we were barely above the poverty level of the time....

    • @Yandel21ableify
      @Yandel21ableify 3 ปีที่แล้ว +20

      Cant do that anymore without an expensive college degree...

    • @dickenstom
      @dickenstom 3 ปีที่แล้ว +27

      Isn’t government money printing great?

    • @jbiz979
      @jbiz979 3 ปีที่แล้ว +50

      Thanx Boomers, look what u left the next the generations with your selfishness

    • @duncanbug
      @duncanbug 3 ปีที่แล้ว +2

      WTF HOWWWWWW. I can’t even process that….

    • @mycatisromeo
      @mycatisromeo 3 ปีที่แล้ว +2

      Yeah but... Netflix.
      Netflix; hold my beer.

  • @nightfangs2910
    @nightfangs2910 3 ปีที่แล้ว +48

    At the end of the day, people don't want to work 40+ hours a week just to have it end up as an exercise in futility, IMHO people are finally waking up to the fact that they have been severely underpaid for the level of skills and responsibility they are

  • @jedison2441
    @jedison2441 3 ปีที่แล้ว +221

    It is upsetting they FED can print out a more then a few trillions of dollars to float Wall Street, but the second they start talking about areas that would help people they can't find the money.

    • @pillcosby3949
      @pillcosby3949 3 ปีที่แล้ว +9

      They can find the money, it’s usually in the form of higher taxes

    • @stachowi
      @stachowi 3 ปีที่แล้ว +9

      keeping people poor is what gives their money value... get it now?

    • @H7B2ify
      @H7B2ify 3 ปีที่แล้ว +18

      @@pillcosby3949 More like better tax enforcement. Raising income tax is not going to do anything but put a bigger burden on the middle and poorer classes while the big Wall Street and Silicon Valley billionaires will still be scot free as their Tex free pipeline still exists. We need a top marginal capital gains tax, closed the carried interest loophole, and stop the billionaires from borrowing against their own stock

    • @RTDice11
      @RTDice11 3 ปีที่แล้ว +10

      Brand new Lockheed contract? Funded in a second.
      40,000 Americans dying each year from lack of health insurance? Search the couch cushions.

    • @andrewternet8370
      @andrewternet8370 3 ปีที่แล้ว +3

      End the Fed.

  • @pacershark452
    @pacershark452 3 ปีที่แล้ว +269

    To be "middle-class" In Manhattan ny, a married couple with two kids need a total yearly income of 2 million dollars.
    That's a FACT.

    • @VideoArchiveGuy
      @VideoArchiveGuy 3 ปีที่แล้ว +30

      Yes - why anyone would choose to live in Manhattan with their pricing I will never know.
      Manhattan has been largely unaffordable for anyone not making very large salaries for at least thirty years now.

    • @pacershark452
      @pacershark452 3 ปีที่แล้ว +51

      @@VideoArchiveGuy People appear to still be under the belief that there is some kind of "prestige" of living in an overpriced, overrated city like new york.

    • @VideoArchiveGuy
      @VideoArchiveGuy 3 ปีที่แล้ว +11

      Precisely.
      In reality it’s only because you want to be liked by the kind of people who think it’s important.

    • @Ominiumshadow24
      @Ominiumshadow24 3 ปีที่แล้ว +6

      Thats why I'll be happy when cites become ruins

    • @pacershark452
      @pacershark452 3 ปีที่แล้ว +6

      @@Ominiumshadow24 sure.
      But then the radical communist left will come to our rual communitite to wreak havoc. Let them stay where they are.

  • @PunkNDisorderlyGamer
    @PunkNDisorderlyGamer 3 ปีที่แล้ว +277

    Unpopular anti-capitalist opinion: I think legislation should be passed on curbing foreign investments in our residential real estate markets.

    • @noblekatana2270
      @noblekatana2270 3 ปีที่แล้ว +65

      I’m a capitalist and I agree with you

    • @jessykapop
      @jessykapop 3 ปีที่แล้ว +76

      100% if your aren’t a citizen you can’t buy

    • @streamofthesky
      @streamofthesky 3 ปีที่แล้ว +76

      Absolutely! Imagine if any house that isn't the owner's primary residency had a 20% yearly tax placed on it, in addition to existing property taxes. Just imagine how quickly Blackrock and the Chinese would be scrambling to sell off their "investments" that are now a dire financial anchor around their necks!
      Houses should be homes, not an alternative stock portfolio!

    • @_Ekaros
      @_Ekaros 3 ปีที่แล้ว +20

      I think that would be useful for all industries outside USA. Why should they be slaves to foreign capital, only leads to pain and exploitation.

    • @StarboyXL9
      @StarboyXL9 3 ปีที่แล้ว +19

      Capitalism is only good when it is explicitly restricted to how it serves the people who founded the nation practicing it.

  • @toddweavet7703
    @toddweavet7703 3 ปีที่แล้ว +23

    Why should they.... this economy has been destroyed over 30 years.
    $15 per hour does not pay for anything unless you have 4 people for a 500 square foot apartment.
    Seattle, Washington.

  • @NorthernKitty
    @NorthernKitty 3 ปีที่แล้ว +69

    Today's worker is more skilled, more productive and works longer hours than ever, yet is paid far less and with less benefits than in the past. All the profits are going into the pockets of executives and shareholders, who are getting filthy rich while telling their workers they're "lucky to have a job". It's sickening to watch. We do NOT live in a "meritocracy", where hard work and real talent are rewarded. Rather, people are rewarded based on how successfully they're able to con and hustle and cheat others out of money. And the biggest cheat going on today is cheating workers out of their wages and benefits to increase profits.

    • @alirezasahafi7009
      @alirezasahafi7009 3 ปีที่แล้ว

      It's funny the country with biggest economy can't figure out solving inflation issue, ohhh let me guess it can't be fixed coz the gov printed billions n trillions to spend in middle east n they have absolutely no clue why

  • @ashkebora7262
    @ashkebora7262 3 ปีที่แล้ว +203

    Nailed it. What's the point when _literally all_ of the gains go to the top?
    Living paycheck to paycheck isn't a life. It's wage slavery.

    • @Fraggr92
      @Fraggr92 3 ปีที่แล้ว +25

      I once heard someone say that wealth isn't generated through money, it's generated through the ability to create and produce goods and services that other people need. Money is just the way in which that wealth manifests in our current economic system. I think that's true. Most western countries have been getting rid of their production industries and shipped them to third world countries in favor of cheaper labor and less stringent laws for decades now. Meanwhile more and more people in western countries are trying to find ways of generating passive income so that they don't have to work (for example the FIRE philosophy) which means that less and less value actually gets generated within western nations. And i personally think the results are rather telling. Many of those third-world countries are rising up economically to the point where some of them even start to rival western nations, while western nations only seem to be getting weaker and weaker. I think we need to realize that money isn't enough to generate a strong and stable economy. If we want to preserve or position on the global market then we need to go back to actually producing the goods and services that we and the rest of the world rely on for our prosperity. Otherwise i think we're only going to keep slipping further and further down from the top.

    • @ignacioanaya3403
      @ignacioanaya3403 3 ปีที่แล้ว

      Is also communism

    • @ashkebora7262
      @ashkebora7262 3 ปีที่แล้ว +14

      @@ignacioanaya3403 Communism doesn't involve wages at all. Everything you hate isn't communism.

    • @TheMohawkNinja
      @TheMohawkNinja 3 ปีที่แล้ว +2

      @@ashkebora7262 Um, yes it does. Soviet citizens got paid in money just like we did in the U.S.... just much shittier.

    • @ashkebora7262
      @ashkebora7262 3 ปีที่แล้ว +9

      @@TheMohawkNinja OK so you think the Soviet Union operated on pure ... _communist_ ideologies? ... wow, you are extremely ignorant about both communism _and_ the Soviet Union.
      The Soviet Union wasn't communist, by definition, by how they operated. They were not, by definition, socialist, either. They were exceedingly nationalistic, had ample _authority structures_ (so closer to communism without the community part) that decided where resources went, and still had companies _specifically NOT owned_ by the people, yet _still_ for menial wages.
      They were anything but communist or socialist in actual existence and operation. You can call a cat a dog all day, but it's still not a dog.
      No one operates on pure ideologies. That's why it's important to look at what works, and what's well received. The US has _tons_ of socialist programs. Which ones? The popular ones _actual working people_ don't want to get cut!! Like _social_ security, the interstate system, public libraries, fire departments, public education (as much as Republicans LOVE cutting its budget), etc...
      Communism involves _abolishing the market_ in most cases, and socialism most often revolves around workers owning and operating their own workplace for egalitarian goals (or across the whole economy if you go crazy with it). So if you're going to unironically call either the USSR or China communist/socialist, you're simply demonstrating you don't know what communism or socialism are.

  • @Btn1136
    @Btn1136 3 ปีที่แล้ว +166

    Violent crime is going to get way worse.

    • @SilverScarletSpider
      @SilverScarletSpider 3 ปีที่แล้ว +28

      Invest in a fire arm gun, or a crossbow at the very least. Protect your property and your family/friends.

    • @DanafoxyVixen
      @DanafoxyVixen 3 ปีที่แล้ว +53

      @Jesus is Lord unless jesus has a gun they aren't going to protect me much

    • @santiagoeltoma5122
      @santiagoeltoma5122 3 ปีที่แล้ว +6

      @@SilverScarletSpider i think a crossbow will get you klld more that secured, i would rather something with and edge in that case

    • @leshiro5574
      @leshiro5574 3 ปีที่แล้ว +1

      Good. It's well deserved.

    • @theboyisnotright6312
      @theboyisnotright6312 3 ปีที่แล้ว +6

      @Breve Stule they are quiet and trust me, more deadly then anything short of a 12 gauge.

  • @carlk2099
    @carlk2099 3 ปีที่แล้ว +15

    When my father in law bought the house I rent in 2014 it was $60,000. He was looking into selling it this year and was getting offers for $250,000. Its 700sf and not in great shape. This is in Utah.

    • @dbased1915
      @dbased1915 3 ปีที่แล้ว +3

      Lol house 3 blocks away. Sold in June for 180k, re-listed at 299k 4 months later, but Wait!!
      they added new paint and some cheap flooring.

    • @Demopans5990
      @Demopans5990 3 ปีที่แล้ว +1

      @@dbased1915
      And presumably did not update the wiring

  • @Celastrous
    @Celastrous 3 ปีที่แล้ว +196

    I'm so glad you're talking about this. I'm a 27 year old firmware engineer - newly employed. My pay is solid for it being my first career position out of college, but I still look in despair at housing prices. If people like me are having trouble getting a home or even renting, I can't imagine how tough it must be on retail/service workers making half what I make.

    • @Greenitthe
      @Greenitthe 3 ปีที่แล้ว +35

      Same boat, I got lucky making 6 figures out of college, but even ignoring student loans I would have to live at home for several years before I could even approach a down payment. These people saying "get a tech job" don't realize that it's not much better on this side of the fence, housing-wise.

    • @tomx641
      @tomx641 3 ปีที่แล้ว +5

      @@Greenitthe In the US tech pays pretty well, at least compared to here in the UK where its less than truck drivers, but the big salaries are around SF... and prices in SF *lolwut*

    • @picklerix6162
      @picklerix6162 3 ปีที่แล้ว +13

      Google and Amazon recruiters keep sending me emails about jobs on the west coast. Sorry, there’s no way you can pay me enough to live in Kalifornia or Washington.

    • @NoirMorter
      @NoirMorter 3 ปีที่แล้ว +7

      @@Greenitthe Right, I was mortified when I saw my pay stub and the breakdown on where my money is going before it goes into my pocket.

    • @DaveA441
      @DaveA441 3 ปีที่แล้ว

      Good be in despair

  • @scottymacdewder5229
    @scottymacdewder5229 3 ปีที่แล้ว +288

    "Its called the American dream, coz you you gotta be asleep to believe it." George Carlin

    • @NeverTalkToCops1
      @NeverTalkToCops1 3 ปีที่แล้ว +9

      When is Joe Pesci gonna fix this?

    • @psxanarchist
      @psxanarchist 3 ปีที่แล้ว

      th-cam.com/video/kJ4SSvVbhLw/w-d-xo.html

    • @joshanonline
      @joshanonline 3 ปีที่แล้ว

      Careful what you 'Wake up' up to though.

    • @lokelaufeyson9931
      @lokelaufeyson9931 3 ปีที่แล้ว +2

      carlin did have a good point, in hes own way he did get it out to people even if it was based on comedy. Sometimes the truth can be easier to handle if you add some sugar aka laughter when you deliver it. The strange part is that most things carlin said is true today.

    • @klontjespap
      @klontjespap 3 ปีที่แล้ว

      @@NeverTalkToCops1 with a simple baseball bat?

  • @emeraldxtouch
    @emeraldxtouch 3 ปีที่แล้ว +39

    "You will own nothing and you'll be happy.." It's starting. All over the world.

    • @cracmar03
      @cracmar03 3 ปีที่แล้ว +3

      I don't think that will ever happen. "You will be happy" expects people to be total sheep. Yet we can clearly see depression from generations is piling up. So people AREN'T going to be happy with system. Not until it burns down and crashes.

    • @JeffCaplan313
      @JeffCaplan313 3 ปีที่แล้ว +1

      Aligns nicely with, "She's not yours, it's just your turn."
      Liberal progressives in the West has declared war on families. Time to welcome in the NWO, eh?

    • @moxygenpathogen7678
      @moxygenpathogen7678 3 ปีที่แล้ว +2

      You'll own nothing and will Marie Antoniette the elites is what's gonna happen.

  • @1980keb
    @1980keb 3 ปีที่แล้ว +85

    You spoke what a lot of people are feeling yet are too scared, embarrassed and even just too depressed to admit to anyone because it does look very dismal for many Americans right now who were already struggling to climb the social economic scale. That's a great analogy with the 🥕 moving exponentially faster than what many people can keep up with.

  • @1337w334b00
    @1337w334b00 3 ปีที่แล้ว +157

    News publications will talk all day about the "Great Resignation" but no one is talking about "The Big Squeeze". Housing has gone up, gas has gone up, student loans average over $100k by the time you get your diploma (if you're doing Bachelor's or longer), some food items have nearly doubled in price, etc. While this is killing families like mine, where despite increasing the household income by $5,000 last year, we're still living check-to-check, the rich have been buying cars, real estate and other luxury bullshit. While my jaw drops at $5+ for a gallon of gas, my landlord is salivating at the new (and $400 more a month) rent contract I have to sign in two months (and there is no one cheaper within a 2 hours drive of here so I'm ostensibly forced to sign it). All this is happening while Biden says bullshit like "It wouldn't be fair to those that paid off their debts to cancel student loans." (Which is like saying we shouldn't have vaccines because it's not fair to the victims of Small Pox that my kids don't also get Small Pox) and it really looks like the elite are either trying to squeeze poor people to actual death or are setting things up for when indentured servitude gets relegalized.

    • @Pawnlust
      @Pawnlust 3 ปีที่แล้ว +13

      Retroactively changing the rules and making people who paid off their debts into suckers is not comparable to new developments in medicine. This analogy could work for a new "free" college proposal but certainly not here. If you want this, the only fair way is for everyone to get the same relative return back. If that were the proposal, it would at least not feel unfair to those who paid off their debts. Feasibility would still be a major obstacle.
      Also, these huge costs for college are linked to the easy access to loans regardless of a major's prospects (as well as many other risk factors). There used to be more qualification for these loans and then the government took over so colleges essentially had a large fresh supply of "free money." Prices shot through the roof and they did their best to attract as many candidates as possible - including rather impressive amenities.

    • @driiifter
      @driiifter 3 ปีที่แล้ว +7

      @@Pawnlust why would you respond to the part of his post that is in parenthesis? get your head checked lol.

    • @haileyt857
      @haileyt857 3 ปีที่แล้ว +6

      indentured servitude is already happening. With student loans, for instance, we are indebted to the government and financial facilities in which we borrowed those loans from- at the price of living comfortably and in other situations with the clothes off our backs.

    • @jigsaw6954
      @jigsaw6954 3 ปีที่แล้ว +5

      Dont cancel the debt just dont guarantee it. The problem is government made the loans a guarantee which means every loan a college gives out the government will back it, they have a licence to print money, that's why college loans are sky fucking high they will always be government backed.

    • @patrickpaterson8785
      @patrickpaterson8785 3 ปีที่แล้ว +1

      Unless you are super passionate about some high-earning field, you are an absolute dumbass to go $100k in debt for a generic bachelors.

  • @lord6617
    @lord6617 3 ปีที่แล้ว +128

    One of the engineers in our office, small town midwest, can't earn enough to even consider buying a house. That's an ENGINEER, supposed to be one of the premier working class jobs in America.

    • @jatinprasath5840
      @jatinprasath5840 3 ปีที่แล้ว +24

      Situation of engineers is way worse in my country. Its really frustrating to study for abut half a decade and then end up with peanuts.

    • @mikedodd9294
      @mikedodd9294 3 ปีที่แล้ว +40

      engineer here with six figure working wife, same thing here in California where the jobs are. Louis makes it sound like this is just a low wage earner problem, it effects every wage level. We finally gave up and moved 1.25 hours away and begged our companies to switch us to 100% remote work. I liked coming into the office but the housing situation just makes it impossible near work. In my mid-40s' now and frankly I'm not willing to live in a 1 or 2 bedroom shared multifamily home just so I can go into an office. I'm also at the point I'm not driving 2.5 hours a day to come into an office. Build more offices in places that aren't ridiculously expensive or move more people to remote work status.

    • @xbmcme9768
      @xbmcme9768 3 ปีที่แล้ว +12

      @@mikedodd9294 The situation is getting so dire I'm making plans to leave the US or at least live outside it for a while. We're very fortunate to be remote software engineers and at least have the option to geoarbitrage, though difficult as that may be. Cannot imagine what people making less than 40K must be thing through. I'm also in CA. Was going to buy a home in 2020, but that plan is off the table due to the price increases.

    • @VideoArchiveGuy
      @VideoArchiveGuy 3 ปีที่แล้ว +4

      Engineer, small town Midwest, is probably making at least $60K.
      A rough calculation shows with a $20K down payment, he should be able to afford a house with about $270K, and unless it's a resort area it's very likely there are houses there selling for less.
      Look for something about forty years old, 1500sf or less, what used to be considered "starter homes."

    • @VideoArchiveGuy
      @VideoArchiveGuy 3 ปีที่แล้ว

      @@mikedodd9294 If they built a remote office, housing there would ramp up accordingly.
      Again, supply and demand.

  • @wimpb
    @wimpb 3 ปีที่แล้ว +258

    This isn't even just a phenomena in the west. Even in China there is a movement of young people giving up on working, relationships and life. There are various names like the "Laying flat" movement or having a "Buddha like" mentality. This problem is worldwide.

    • @thewingedpotato6463
      @thewingedpotato6463 3 ปีที่แล้ว +70

      "A strange game, the only winning move is not to play"

    • @tron121
      @tron121 3 ปีที่แล้ว +4

      @@thewingedpotato6463 WOPR wisdom.

    • @GGWP-nx3kn
      @GGWP-nx3kn 3 ปีที่แล้ว +19

      It’s because they have no woman to be with mostly. There are too many men for a fraction of available women who have outrageous standards. I don’t blame men who cannot get anything for watching the world burn instead of fooling themselves into believing they had a chance in this world to begin with.

    • @wimpb
      @wimpb 3 ปีที่แล้ว +14

      @@GGWP-nx3kn It's also a problem in Japan (satori generation) and S Korea (sampo generation).

    • @BennyOcean
      @BennyOcean 3 ปีที่แล้ว +14

      In Japan several years ago there was a mainstream documentary about the trend in what translates in english to "herbivore men", which corresponds to what you're saying... young men giving up on work and relationships due to the current socioeconomic conditions of their country. The suicide rate in Japan is also quite high. Depressing to think that the trend is global.

  • @zarslair7048
    @zarslair7048 3 ปีที่แล้ว +117

    This year, my husband and I realized we'd saved a great deal and might finally be able to afford an in to the property game. Then we looked at the prices. Everything in our price range was clearly only that way because it was a poor investment; crumbling broken buildings - trash-strewn lots - empty cliffside swatches - fenced-in bungalows across the street from huge homeless encampments... It's extremely disheartening. We have enough for a down payment and modest costs beyond, not enough to build a house and fix up a city ontop of that...

    • @bc1969214
      @bc1969214 3 ปีที่แล้ว +4

      Zar, check with your city/county's housing dept, they may have first time homeowner loans/grants that are forgiven if you live in the property as your primary residence for a few years.

  • @Blazs120gl
    @Blazs120gl 3 ปีที่แล้ว +50

    Same here in the EU. I'm trying to save for real estate and I'm running after a bus slowly pulling away.
    5 years ago I was 10 years away and now I'm still 10 years away, despite getting paid nearly 50% more than 5 yeas ago.
    I can't fill the gap with a loan and even if I would go for it, I would have to worry about unforeseen things ruining it all, for the next 10-20 years.
    This completely defeats the purpose of the quality-of-life increase, e.g. having a house with a garden.

    • @RealLifeFinance
      @RealLifeFinance 3 ปีที่แล้ว +2

      I'm with you. Do to life circumstances I had to sell my house that had a $1,200 payment in 2019 and rent. Now here I am making decent money but houses have gone up $200k. To own, my payment would be $2,500 + 500 utilities OR 60% of my take home pay from my $75k a year job.

  • @CheatingZubat
    @CheatingZubat 3 ปีที่แล้ว +173

    Honestly Louis, as an IT worker in a city, I can't even afford a one bedroom apartment working full time. I've essentially given up on having any hope of a future. The goalpost keeps moving further away and I can't keep up.

    • @victormendoza3295
      @victormendoza3295 3 ปีที่แล้ว +5

      There is your problem. In the city. You gotta move.

    • @longbeach225
      @longbeach225 3 ปีที่แล้ว +36

      @@victormendoza3295 The problem is even he moves out the city and get a job in that town is his pay will go down and probably won't be better off much than where he is at now. This is why people want to wok from home because you can take that pay and move to a cheaper location. That is what happened but no companies are cutting their pay and now people leaving to do something else.

    • @CheatingZubat
      @CheatingZubat 3 ปีที่แล้ว +67

      @@victormendoza3295 No. Wrong. I did what society told me to do. Got into a decent field, work 40 hours + a week. I should NOT have to do more in order to be able to afford rent. This situation is a failing on society, not me. None of us should have to do that. I call BS

    • @GentlemanNietzsche
      @GentlemanNietzsche 3 ปีที่แล้ว +36

      @@victormendoza3295 if someone is living paycheck to paycheck "just move" is a tone deaf nothingburger of a solution.

    • @newguy6935
      @newguy6935 3 ปีที่แล้ว +7

      I understand what you are saying and feel bad for ya, but... Hang in there. You must realize that economic history is full of booms and busts. So, you must be patient and wait for the opportunity... it will come. The last bust (06-09) happened because peoples' wages couldn't keep pace with the price of houses. Does that not sound familiar to you now?

  • @jessicantina
    @jessicantina 3 ปีที่แล้ว +1297

    Cat: "Stop getting mad about macroeconomic theory and love meeeeeee."

    • @gabakusa
      @gabakusa 3 ปีที่แล้ว +31

      meow

    • @JohnnieWalkerGreen
      @JohnnieWalkerGreen 3 ปีที่แล้ว +13

      Yes! Let's start the right to repair the administration movement!

    • @MJSGamingSanctuary
      @MJSGamingSanctuary 3 ปีที่แล้ว +24

      No kidding one of these days when Louis has truely given up its just gonna be a livestream of like Louis passed out like on a couch and the cat is gonna be ruling the stream XD.

    • @roadent217
      @roadent217 3 ปีที่แล้ว +2

      Hah! Pin of sh-
      ...uhhhh...

    • @REDARROW_A_Personal
      @REDARROW_A_Personal 3 ปีที่แล้ว +1

      Sorry Jessica. Hes taken.

  • @stephenpavlov8942
    @stephenpavlov8942 3 ปีที่แล้ว +11

    I've been saying the same thing for years. When asset prices run away from wages people lose interest in working at jobs. I've been telling a lot of small business owners that this affect will cause them to not be able to maintain employees and therefore not be able to grow their businesses.

  • @arikaGME
    @arikaGME 3 ปีที่แล้ว +167

    Better yet.... Yellen suggesting taxing the carrots that we may chase in the future... Even if we never actually catch them.

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +13

      Taxing the carrots that her buddy Jerome is making the prices of, go higher via inflation. Genius.

    • @someguy6075
      @someguy6075 3 ปีที่แล้ว +6

      What on earth are you talking about? Unrealized gains? Do you really think privileging passive income over earned income in the tax code is shrinking wealth inequality, not accelerating it?

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +10

      @@someguy6075 What are YOU talking about?

    • @someguy6075
      @someguy6075 3 ปีที่แล้ว +4

      @@life_of_riley88 What part isn't clear?

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +13

      @@someguy6075 Read my first comment. It's all a big game. One player positions for the other. Stop fighting over the scraps and look to see who is at the table.

  • @lafcadiothelion
    @lafcadiothelion 3 ปีที่แล้ว +171

    In Toronto Canada, the average price of a home is $1 million. With a 20% down payment on it, you would need to be making over $160,000 per year to be able to afford the mortgage.
    So an average home requires a way above average salary.

    • @Brent-jj6qi
      @Brent-jj6qi 3 ปีที่แล้ว +34

      A fucking bungalow with a basement costs 800k, this shit is fucked

    • @pbdye1607
      @pbdye1607 3 ปีที่แล้ว +40

      But you can always live where it's cheaper! Away from all of the best-paying jobs. Those are only for winners and people willing to live beyond their means so they amass and own nothing. All glory to the landlords and our betters. May their throats remain uncut and their spoils unburnt and the ashes not pissed on.

    • @TechBuRn1337
      @TechBuRn1337 3 ปีที่แล้ว +21

      We feel your pain in BC ( Bring Cash) Average house price in the interior is now 850k, any detached home in downtown Vancouver will go for 2 - 7 million. What the fuck happened, and when are we going to demand that our so called leaders make policies to fix this shit. Generation X and up were robbed of a future, burn it all down if they don't fix it.

    • @erintheangry
      @erintheangry 3 ปีที่แล้ว +2

      wait until the interest rates MUST come up... hoo boy...

    • @Dan16673
      @Dan16673 3 ปีที่แล้ว +3

      @@The_10th_Man lol

  • @chrisd7133
    @chrisd7133 3 ปีที่แล้ว +296

    I'm currently pulling down a salary I used to think was "Rich People" kind of pay. What many would still consider an absurd amount of cash. But finding a house that isn't A: 1 hour 30 minutes one way from my job or B: a complete rebuild is proving increasingly impossible.
    I could only imagine the despair of people not pulling down my salary. Its a sick joke.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +208

      That feeling when you finally realize you're on the path to becoming a millionaire but being a millionaire doesn't actually mean much anymore. I figured I'd understand that meme closer to my 50s/60s.. not in the 2020s

    • @nickstone1167
      @nickstone1167 3 ปีที่แล้ว +12

      Yeah....relatable. Relatable as fuck.

    • @ohlawd6763
      @ohlawd6763 3 ปีที่แล้ว +15

      Yep, I fully expect to live with my parents for a good amount of years because the only affordable housing near me is about an hour and some change away from my job

    • @JamesJamersonIsAGod
      @JamesJamersonIsAGod 3 ปีที่แล้ว +43

      I feel your pain brother. Checked all those boxes, did well in school, got an engineering degree, paid off all student loan debt, got raises/promotions. Ready to take the next step into home ownership and basically slapped in the face with housing prices basically doubling over a few months.

    • @chrisd7133
      @chrisd7133 3 ปีที่แล้ว +47

      @@JamesJamersonIsAGod Goes back to Louis' argument: How do you not want to put your middle fingers up at everything when literally all you've done your entire life is "the right thing" and your reward is..... another apartment to rent?

  • @Squidhead
    @Squidhead 3 ปีที่แล้ว +69

    I just think it’s fucked up how your only chance to really enjoy life and “fully” relax is supposedly when you retire and retirement sounds like such an unreachable point in the end game especially with the housing crisis.

    • @JohnSmith-ns6dp
      @JohnSmith-ns6dp 3 ปีที่แล้ว +8

      It’s very common to die within a year of retiring if you’re used to working all the time.

    • @mycatisromeo
      @mycatisromeo 3 ปีที่แล้ว +5

      My dad worked his ass off self employed in the car business. Left all his money to a woman he married 8 months prior to his death. Literally when he was 65 and starting his retirement. Life is short. Don't bet on making it to retirement. Enjoy your life to the greatest now and know you can't take any of your money, assets, wealth or house with you when you die.

    • @BlueBD
      @BlueBD 3 ปีที่แล้ว +1

      @@mycatisromeo You should be living to enjoy to most of your life Now rather then fighting to enjoy it when you are to old to enjoy it.

    • @mirsolis4992
      @mirsolis4992 3 ปีที่แล้ว +2

      @@JohnSmith-ns6dp In fairness when Social Security was first established it was expected that it was only supposed to tide seniors over for a few years before they died. There was no expectation that people would be living decades after first receiving it because at the time that wasn't happening since senior age healthcare was so much poorer. Reading about Victorian era elderly poverty is absolutely ghastly so I can see why at the time SS seemed so amazing. Before elderly people were dying at work while Social Security gave them a few years worth of dignity and comfort.

    • @comradesillyotter1537
      @comradesillyotter1537 3 ปีที่แล้ว +1

      I know two people who lost their retirement for reasons outside of their control after working for it all their lives what kind of fool do I have to be to pursue that????

  • @SimGunther
    @SimGunther 3 ปีที่แล้ว +440

    If our culture realizes that the hamster wheel is too fast for anyone except those who control the hamster wheel, we'll be one step closer to the "old days" where multiuse buildings and small businesses build local dreams. That's what countries SHOULD be built on; instead it's built on international zombified companies feigning success because muh stonk price?
    Let's do the right thing because it's clear the people who are supposed to help us WON'T! It's in their best interest to help each other fail upwards.
    It's time to control the hamster wheel!

    • @electricmiragemedia
      @electricmiragemedia 3 ปีที่แล้ว

      Well said.

    • @LoverKittey
      @LoverKittey 3 ปีที่แล้ว +29

      @@ShaferHart Honestly a bad take but I get your point. Our generation(gen z/millennial) was misinformed by the previous generation to such a gross degree it was simply negligent. Young people aren't told to think for themselves any more, they form an opinion based on the information they are able to obtain and if that information is false then they have to step back and reformulate a more accurate opinion.

    • @1685Violin
      @1685Violin 3 ปีที่แล้ว +12

      Your changes would only work when allied with nationalists and traditionalists. Changes to the economy isn't enough when the rot in the government is extremely deep.

    • @Eibbor2009
      @Eibbor2009 3 ปีที่แล้ว +35

      ​@@ShaferHart "we" never had any power to begin because of said boomers, who still run things to begin with. it's 100% on them.

    • @SimGunther
      @SimGunther 3 ปีที่แล้ว +14

      @@ShaferHart True dat. I definitely see one part of this upcoming generation being more eco-conscious jerks that feel like doing the "right thing" because they feel the need to "stick it" to everyone that ruined their lives. There's another side that is just unaware of what has broken the system and they'll just be manipulated by wolves in sheep's clothing taking office next time round to be angry for no good reason. The internet has been less and less forgiving to those in power, but eventually it'll go underground for a certain group of users once again and everyone will be clueless about why the internet isn't "what it used to be". I remember what the internet was like in the '90s and that day may come for some, but many will be stuck with the sanitized boring internet that is 99% censored unless you know where to go for the "real info". What used to be a collaborative space like Wikipedia is now an excuse for political foes to filling mud at each other making real good info impossible to find while the corpos take it to the bank.
      That culture clash is gonna be ugly and I'll just sit back eating popcorn watching it all go in flames. 🍿

  • @davidvirgilio902
    @davidvirgilio902 3 ปีที่แล้ว +54

    This is the most intelligent, informed, level-headed look at the current situation that I’ve seen so far. Great video

    • @kik1rik1
      @kik1rik1 3 ปีที่แล้ว

      Agreed!! However I do nothing but watch people on youtube put peanut butter on their feet. Not sure how this showed up on my feed.

    • @klontjespap
      @klontjespap 3 ปีที่แล้ว

      @@kik1rik1 that's oddly specific
      But i won't kink shame

    • @mrb152
      @mrb152 3 ปีที่แล้ว

      Yea except he leaves out the context in Nashua New Hampshire. Nashua has for months been the hottest real estate market in the country and is a commute for Boston. Mass holes moved there during covid.

    • @kik1rik1
      @kik1rik1 3 ปีที่แล้ว

      @@klontjespap Thank you, your politeness is something we can all aspire to.

  • @jimfrench2001
    @jimfrench2001 3 ปีที่แล้ว +75

    About housing prices, how about we limit home ownership to the people that live in the home and maybe one or two other dwellings. Part of the issue is investors owning many, many homes and then using them on online platforms for short term lodging or using them as outright rentals. There are corporations that own thousands of residential homes across the US that are driving up costs for both home buyers and renters. Easy solution is to tax the hell out of any homes owned past 2 or 3.

    • @ryanward10
      @ryanward10 3 ปีที่แล้ว +26

      That policy is practiced where i live. You pay double property tax on anything that isn't your primary residence. The net effect is that rent is so expensive that poor people can never save enough for a down payment. Slum lords spend much more on property taxes than repairs & maintenance. Sorry friend, this policy has down sides too. 😑

    • @janeblogs324
      @janeblogs324 3 ปีที่แล้ว +5

      Thank airbnb

    • @cracmar03
      @cracmar03 3 ปีที่แล้ว +5

      Tax won't really do the thing. The only thing I can think of is to by law forbade ownership of more then 2 houses. Basically return of old law straight from communism out here. Back then housing prices out here were normal. It went to shit when current bastards overtook it.

    • @jimfrench2001
      @jimfrench2001 3 ปีที่แล้ว +6

      @@VictoriousGardenosaurus They did this with educational loans, making them easily available for far more students and the overall effect was to cause that fastest escalation of tuition rates ever. Now you can get a loan but you can't afford to pay it back. So not sure making mortgages easier to obtain would do anything but further make homes more unaffordable.

    • @j0ndav1s
      @j0ndav1s 3 ปีที่แล้ว +4

      Even limiting it to people who live in America would make a drastic difference

  • @dmac___
    @dmac___ 3 ปีที่แล้ว +32

    It's concerning on multiple levels.
    Housing prices are increasing... but not wages. I'm worried what will happen in a few years time when wages are still stagnant, and a larger portion of salaries are being used to pay down a larger mortgage.
    Where will the economic growth come from if we're spending more on houses? And not even new builds - just houses changing hands.

    • @askmitch
      @askmitch 3 ปีที่แล้ว +3

      Also another thing to be concerned about is running out of space to build houses. I think part of the deal is that more people want houses than houses are available, so in a supply-demand economy, housing prices adjust towards only those that can pay more get one. There is also the issue with foreigners buying houses and not living in them, which reduces the amount of available homes for people who want to actually live in the area.

    • @BlueBD
      @BlueBD 3 ปีที่แล้ว

      @@askmitch Should cut that shit of foreign houses out. Or severely limit them. If your a foreignner you should not be able to buy more then 1 property without the intention of staying some time in it.
      Fuck the "summer home" mentality. The properties don't exist for you to sit on them for years just to hold liquid assets

    • @BlueBD
      @BlueBD 3 ปีที่แล้ว

      @@askmitch There are a shit ton of ghost towns, we are not running out of property, not buy a long shot. these massive firms are churning out "Luxury" homes by the dozens the problem is exactly in that last statement.
      Every home is a "Luxury" and the price come along with it.
      My own hometown is large and barren. for ever 2 homes 1 is abandoned. Its either a decrepit husk or has been "For sale" as for as long as I have been alive. And it does not help that we lose people more and more

    • @askmitch
      @askmitch 3 ปีที่แล้ว +1

      @@BlueBD there is definitely something to say about the amount of people moving out of towns and small cities for the bigger medium or large cities. I live in a medium city in Ontario, and we have tens to hundreds of thousands of people moving here because Toronto is too expensive. Our city is expanding the borders, turning farms into suburbs, and trying to find every empty plot of land to try to build houses.

    • @15xgg80
      @15xgg80 3 ปีที่แล้ว +1

      TBH i am more concerned about the prices of EVERYTHING else skyrocketing. If i rent for the rest of my life its dissapointing and sucks but whatever cant take the house with you when you die. The scary thing is its getting to a point where its gonna be hard to afford food and most basic necessities. A price of a burger king meal almost doubled in my area in one year...

  • @mememaster9393
    @mememaster9393 3 ปีที่แล้ว +188

    Remember people “In 2030 you’ll own nothing and be happy”

    • @MrJohannson
      @MrJohannson 3 ปีที่แล้ว +2

      @Caleb Brewster vote harder!

    • @BillAnt
      @BillAnt 3 ปีที่แล้ว +2

      And your phones will be glued shut, not even a blowtorch can open it. lol

    • @not_listening2792
      @not_listening2792 3 ปีที่แล้ว +5

      @Caleb Brewster Why? Repubs are for tax cuts on the rich and ending socialism for the poor (cutting social security and medicaid, medicare benefits).

    • @Demopans5990
      @Demopans5990 3 ปีที่แล้ว +2

      @Caleb Brewster
      Meanwhile in China
      Small government? lol
      Personal responsibility? Better do it or else...
      Liberty? What liberty?
      Energy independence? We're investing in solar, which is about as energy independent as you can get.
      Fiscal responsibility? We're running a surplus of US Treasury bonds, and we don't know what to do with them.
      And yet, China is rapidly becoming ascendant in many important fields. We Chinese like it when Trump was in power. The clown doesn't even know Xi played him like a fiddle

    • @Demopans5990
      @Demopans5990 3 ปีที่แล้ว

      @Caleb Brewster
      Have fun in a post American world order then. China will retake its rightful place as the foremost world power

  • @evan
    @evan 3 ปีที่แล้ว +432

    It's just like this in London, but even worse somehow. The only way to even afford a house here is to buy "25% of a new build" which is practically the only way to get onto the property ladder for those of us earning under £100,000 a year. Absolute bollocks

    • @LuisRebelo
      @LuisRebelo 3 ปีที่แล้ว +31

      Even renting at this point unless your really like living in roomie closets, you need 2 people earning above £32,000 in order to be comfortable and still be able to eat afford London transport prices and and maybe go to the pub once a month... And all of this also depending where you work/rent in the city. It's not worth it anymore, it use to be..

    • @ThreeBeingOne
      @ThreeBeingOne 3 ปีที่แล้ว +9

      Blimey.

    • @johnclarke2997
      @johnclarke2997 3 ปีที่แล้ว +22

      I don't know how people can survive in London on less than £50k. Not many jobs pay above that, even with London weighting.

    • @mememaster147
      @mememaster147 3 ปีที่แล้ว +15

      South Korea as well. Seems to be a feature of the developed world.

    • @PaxTemplar
      @PaxTemplar 3 ปีที่แล้ว +4

      same in Edinburgh Scotland and most of the new builds are for students only.....

  • @gambini1598
    @gambini1598 3 ปีที่แล้ว +144

    Yup, same in Europe. The main thing is that salaries don't grow... Only everything else. I feel bad for my kids. There is no way that all this non-sense won't crash one day and there are millions of suckers telling that this bubble will just grow

    • @Lionhead2128
      @Lionhead2128 3 ปีที่แล้ว +9

      Yes, but this bubble is the only thing that can get millennials ahead nowadays, or get eaten by inflation and negative interest. 😆

    • @gambini1598
      @gambini1598 3 ปีที่แล้ว +7

      @@Lionhead2128 Probably true statement.

    • @gambini1598
      @gambini1598 3 ปีที่แล้ว +5

      At least there is something I learned from the stock market... What goes up, will go down. What goes up tremendously... Will crash rock bottom

    • @dericmederos1514
      @dericmederos1514 3 ปีที่แล้ว +19

      I refuse to have kids until I am financially secure. I refuse to have a situation where i have to look at my kids and say "We can't afford it" i rather be childless

    • @gambini1598
      @gambini1598 3 ปีที่แล้ว +6

      @@dericmederos1514 Who would say that there will be "hyper" inflation 7 yrs ago when we had our first kid? No one knew anything about epidemic stuff. But we went forward to it by outsourcing everything to china etc.
      Anyway, you did it? You have to deal with that. That's my point. I will take care of them no matter what...

  • @Mode-Selektor
    @Mode-Selektor 3 ปีที่แล้ว +97

    Human productivity has exploded over the last 50 years. So why are we working more? I'm black pilled because the team leader takes all the credit and reward for what the team did.

    • @aphilipdent
      @aphilipdent 3 ปีที่แล้ว +3

      All of the big business owners are acting like that Daffy duck cartoon where he's in the cave of jewels and gold screaming mine mine mine all mine I'm a greedy little miser. They refused to let go of a penny to give their employees.

    • @themachine9366
      @themachine9366 3 ปีที่แล้ว +1

      Yes, and 50 years ago most households did not have personal computers, phones, access to the internet, AC, and even cars. 91% of households have access to at least one vehicle today compared to 83% in the 70s. The life expectancy rose from 71 years old to 78 years old. Productivity has increased because technology has increased, and in the same way our lives have improved. Workers are not magically just becoming smarter, stronger, or working longer hours. Their wages have not followed productivity but their quality of life has. This is because productivity is not being driven by having better workers, just better technology.

    • @124085
      @124085 3 ปีที่แล้ว +9

      @@themachine9366 Americans today are lucky if they have dental. What planet are you on? Not all sectors of the economy benefited. If you live in a former factory town where all the jobs went overseas life expectancy has gone down, not up.

    • @Kieselmeister
      @Kieselmeister 3 ปีที่แล้ว +3

      @@124085 technically 80% of those lost manufacturing jobs went to Robotic CNC equipment imported from Germany/Japan/California, and the remaining 20% got turned into low skill, low paying, machine operator & assembly work... (part in -> press button -> part out -> repeat for 8 hours)
      (Haas machines are American, but are made on the other side of the Rockies from the traditional

    • @124085
      @124085 3 ปีที่แล้ว +3

      @@Kieselmeister The point stands that America is richer than ever, workers are more productive than ever yet wages only shrink and inflation is spiraling out of control. The system is a joke and no one's laughing.

  • @Nathanatos22
    @Nathanatos22 3 ปีที่แล้ว +135

    1:17 “Measuring your salary in housing prices”
    Exactly. You’re the only one I know who actually says this. I’ve been saving $2000 a month, which I thought was good, but the median price went up $4000-$5000 each month in my area since 2017.
    In effect I’ve been losing $2000 each month, despite making top 10% income for my area.
    When I try explaining this to, say, my boomer parents, who bought a house immediately after college, they’re simply too dumb to understand what I’m saying.
    Incidentally, they squandered all their wealth, have virtually nothing left, and are planning to give the house to my brother because he has kids, leaving me with literally less than nothing in the end.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +78

      I am guessing they bought a house for $15,000 when minimum wage was $2.75 or something and think you're not working hard enough.

    • @StarboyXL9
      @StarboyXL9 3 ปีที่แล้ว +34

      @@rossmanngroup I hate Boomers so much its unreal

    • @wolfgang2453
      @wolfgang2453 3 ปีที่แล้ว +24

      My family is generally decently open-minded about most things, but they still believe the American dream is kicking. Gets really frustrating when they talk about how lazy everyone is getting for not wanting to work because I know they won't understand if I try to explain to them that it's because even with a well-paying job, the carrot of purchasing a house is moving faster than you can move to catch it. What's the fucking point in working if all it's doing is allowing me to buy gas to get to work and food so I don't die? At this rate I'll never own a home and by that metric never have financial stability.
      Might as well just get a rifle and live in the wilderness and build my own house. It'd be better quality than any I could afford after working for 40 years.

    • @TechExploresNYC
      @TechExploresNYC 3 ปีที่แล้ว +19

      @@rossmanngroup I guess if working 8 hours a day is not hard enough, you can try working 32 hours a day.

    • @InfernosReaper
      @InfernosReaper 3 ปีที่แล้ว +5

      @@rossmanngroup Now, someone would pay 3x that to live in a how that's half a century old in the ghetto of a basically dead city or buy one of those big sheds ya see in the parking lot of a Lowes or Home Depot in order to live in the woods.
      At that point, ya might as well just spend $15k on a work van and turn it into an RV then live down by the river. At least it'd be nicer than what Matt Foley was livin' in. Plus you can pretty much move to where the jobs are. Just don't wreck it or ya become homeless.
      The sad part is I'm not even really joking. That's pretty much the only way most people will even have a shot at being able to save up for the American dream and even then they won't be living it until they're old enough to retire.

  • @__Wanderer
    @__Wanderer 3 ปีที่แล้ว +134

    Spot on. In Holland/netherlands house prices have doubled in 2-3 years. As a millennial who was looking for a house I am currently so depressed. My future is bleak. Will never own a home and by proxy will likely never be able to even start a family. Dutch gov. is sleepwalking whilst boomers / millionaires get filthy rich. This is going to create a demographic cliff over 10-20 years. Life has become unaffordable for an entire generation.

    • @xilw3r
      @xilw3r 3 ปีที่แล้ว +5

      it wont last for ever. maybe way less than anyone thinks. This housing thing has been going on for a decade, now its just going parabolic, the top is coming close I think

    • @__Wanderer
      @__Wanderer 3 ปีที่แล้ว +10

      @@xilw3r At the current price level increases we need a ~50% market crash to get back to somewhat "normal", since most peoples wages maybe increase 3-5% max per year. I do not see that happening anytime soon*. The FED & central banks have lost all legitimacy - at any sign of a market correction they flood the market with more cash. Personally going to check out of society if this continues for another 2 years.

    • @pjludda4323
      @pjludda4323 3 ปีที่แล้ว +8

      Multiple generations. Gen X got the beginning waves of the mess the Boomers are leaving us, us Millennials are getting smacked full-force, Gen Z will more likely end up with the remains...Fucking Boomers...Given everything, leaving nothing, and still will try to be a parasite throughout...

    • @__Wanderer
      @__Wanderer 3 ปีที่แล้ว +3

      @@pjludda4323 True - this will be a multi-decade train wreck by the looks of things.

    • @pjludda4323
      @pjludda4323 3 ปีที่แล้ว +2

      @@chasesmith5123 Yep and the NeoConartist's MEI companies...Practically turning something that's meant for defense into DRASTICALLY underpaid security guards. Imagine, taking all the flack and risking your life for BARELY 10k a year while you have these people making 100k+, tax-free...Yeah...Blackpilled the fuck out of me during my 1st deployment...

  • @Tsuchimursu
    @Tsuchimursu 3 ปีที่แล้ว +110

    This is why I bought a cheap farm in the middle of nowhere and said screw it. I'll just grow my own carrots.

    • @bubba99009
      @bubba99009 3 ปีที่แล้ว +18

      @asdfasdf Rural property taxes are cheap. You are paying 1/10th the property tax for 100 times the land. There are plenty of people who straight up don't work at all that own their own homes in rural areas and still manage to pay the taxes. And there's still plenty of places to buy groceries.

    • @asakayosapro
      @asakayosapro 3 ปีที่แล้ว +9

      Almost literally living the Minecraft lyfe... I'm almost jealous, if not for the fact that utilities are going to be either absolute garbage, or absolutely expensive to have. But that is a fair tradeoff in comparison to being in the midst of a neverending rat race that's just as bad as squid game.

    • @baronzad2056
      @baronzad2056 3 ปีที่แล้ว +5

      how much, and more importantly, where can you find places/websites to see cheap farms in the middle of nowhere? Call me Lenny, but I'd rather live off the fat a the lan'

    • @michaelemison7900
      @michaelemison7900 3 ปีที่แล้ว

      Same, I get property tax, lumber tax, and tax on my mineral rights🤬

    • @Tsuchimursu
      @Tsuchimursu 3 ปีที่แล้ว +4

      @asdfasdf I have an hourly job an hour away so I can work here and there to make ends meet before I can produce enough to sustain myself. I have some friendly folks in the village that can help me if needed. (I'm not all alone)

  • @AdamWebb1982
    @AdamWebb1982 3 ปีที่แล้ว +27

    It’s the same in the UK. I’m saving 90% of my wages yet the house prices are pulling away from me. Makes me feel like spending all that money and enjoying life while living in my parents place forever.

    • @admiralackbar4652
      @admiralackbar4652 3 ปีที่แล้ว +1

      If that's your last resort, then I see no problem going that route.

    • @faustsin9366
      @faustsin9366 3 ปีที่แล้ว +1

      Thats what Im doing honestly I had a big nest egg and realized that are currency is becoming worthless fast so I invested it and just bought stuff I wanted to.

    • @MrMatek13
      @MrMatek13 3 ปีที่แล้ว +6

      It is a sensible choice given modern demographics. The idea of 'get your own house' is built around natural growth being a thing. In modern times, people rarely have more than two children (In the UK). There is no reason why we need more places to house more people, the number of people is not really increasing, immigration aside.
      Culturarly living with your parents is seen as something for 'losers'. Fuck that. Be happy, maybe even be happy with someone special if you can find them. Contribute to the household and live with your family if you want and they don't mind. There are more ways to live than what mass media told you looks 'successful'.
      The world is changing and it is not in a good state right now for people like you. I hope your family can be supportive and understand that. Maybe someday the tide will shift, but please don't fall for the trap for being 'forced' to spend absurd sums of money and pay off debt until retirement, if you know it's not even going to make you happy.

    • @itsaddietubeTV
      @itsaddietubeTV 3 ปีที่แล้ว

      From the UK too, and I FEEL you! I’ve saved a bit but sometimes I feel like just spending it all 😭

  • @aaliyahbeeby
    @aaliyahbeeby 3 ปีที่แล้ว +41

    i like how now it costs $1000+ for a roach infested, poorly constructed 1 bedroom apartment in texas when just 3 years ago you can find the same thing for $600 😃

    • @criticaltexan2334
      @criticaltexan2334 3 ปีที่แล้ว +7

      can confirm, am a Texan.
      also, the only way to pay less than a fucking mortgage payment for rent is to have roommates.
      It's actually cheaper to make payments on a house than to live alone in an apartment..... That is, if one could even get approved for a house.

    • @criticaltexan2334
      @criticaltexan2334 3 ปีที่แล้ว +10

      Also, I run a fucking welding company. Banking $2k+ per week. And even I'm being turned down for a house.
      From what I've heard, the rich folks are buying up all the houses in cash. Paying 20% above the market price, in order to seal the deal before any of us peasants can even look at a house.

    • @jeffshackleford3152
      @jeffshackleford3152 3 ปีที่แล้ว +3

      @@criticaltexan2334 The funny thing is they don't even pay the cash, they just put in the offer as cash as a trick.

    • @Greenitthe
      @Greenitthe 3 ปีที่แล้ว +2

      ​@@criticaltexan2334 Blackrock & multinational investment companies are buying up anything affordable in my area and converting it to 'luxury rentals' that cost 6k a month and sit vacant for years. Capitalism functioning as intended...

    • @rushthezeppelin
      @rushthezeppelin 3 ปีที่แล้ว +2

      I remember my first apartment in Texas about 15 years ago was a very nice apartment for 500.

  • @Not_The_FBI_1992
    @Not_The_FBI_1992 3 ปีที่แล้ว +15

    Louis, when I moved to Charleston, SC. two years ago, I got a 750 sq. ft' apartment, 10 minutes from downtown for $905 a month. A year later, they raised my rent $35 dollars. This year, they tried raising my rent $250 dollars! They claimed that I was still $600 dollars below market value. I looked it up, my property management group is now renting my same floor plan for $1500 a month for new tenants, and claim people are paying it. Thats almost a 60% increase! (Unless I've done my math wrong) This is unsustainable!

    • @martins3885
      @martins3885 3 ปีที่แล้ว +5

      No way people are able to afford that they are lying.

  • @stoneylonesome4062
    @stoneylonesome4062 3 ปีที่แล้ว +160

    Scotty Kilmer had been saying for the past few months that it’s not a good time to buy a car, given how high the prices are at the moment. However over the past few weeks, he’s been saying that if you’re gonna need a new car anytime soon, especially a new car, buy it now while you still can, because it’s about to get much worse, before it gets even worse.

    • @Andrew-ry9be
      @Andrew-ry9be 3 ปีที่แล้ว +24

      God bless Scotty

    • @BasedBidoof
      @BasedBidoof 3 ปีที่แล้ว +11

      Scotty Kilmer also uses compression fittings on brake lines.

    • @joelopez7459
      @joelopez7459 3 ปีที่แล้ว +3

      lol havent watched scotty in a while

    • @manictiger
      @manictiger 3 ปีที่แล้ว +14

      I spent so many years of my life taking bicycles, walks and buses, that even now I still feel like driving is a luxury. If my car breaks and I can't find parts for it, or they're price gouging me, I have no problem going back to what I already spent most of my life doing. Only difference is, if we're in a Venezuela-type situation by then, I'll also have armor and weapons. If it's really serious, I might be in full kit.
      I don't like seeing my country burn to the ground, but I saw this coming years ago. All this time has just been me preparing. I knew it was coming. Very rarely did I think we could recover this country. 2019, I though Trump was actually going to turn us around. Nope. The Bilderberg Group doesn't want that.
      We're not getting better. This empire is collapsing. You had years to prepare. Years of signs. Shrinkflation as far back as 2014. Protests back in 2009, showing the anger about the lagging wages and widening wealth gap. We were warned many many times.

    • @JodyBruchon
      @JodyBruchon 3 ปีที่แล้ว +14

      I bought a brand new Mitsubishi Mirage manual three months ago for $13K. It was worth every red cent. 46 MPG baby!

  • @janeallgood9833
    @janeallgood9833 3 ปีที่แล้ว +18

    All Louis' videos: hits the nail on the head and explains it to us perfectly the same way 6 times in a row.

  • @zeyfuller
    @zeyfuller 3 ปีที่แล้ว +29

    I have a compsci degree but even retail places won’t call me back. I am fully convinced people aren’t really hiring.

    • @criticaltexan2334
      @criticaltexan2334 3 ปีที่แล้ว +7

      Yup. Boomer economics, dude. I've applied to places that literally had no staff. And guess what? They closed shop 3 months later without even giving me a callback.
      I ended up just starting my own business. And am having decent success.

    • @zeyfuller
      @zeyfuller 3 ปีที่แล้ว +7

      @@techtutorvideos Try for an internship since those are generally just for students. Other than that, I do not know. I graduated pre-covid and even then 90+% of the job openings were senior positions or asking for crazy experience.
      I've seen more than one ask for 10 years of Swift experience. Swift has only existed for seven years.

    • @mfdev9926
      @mfdev9926 3 ปีที่แล้ว +3

      Im in the last year of my compsci degree and am totally at peace with the idea that I’ll be working on a farm somewhere next year

    • @thrpotatoasfgfejfidieiidkr7071
      @thrpotatoasfgfejfidieiidkr7071 3 ปีที่แล้ว +1

      I'm qualified for 4 free years at Michigan because my family is poor if I can get in and I was thinking of doing compsci but I'm not so sure anymore. Anyone know a degree that's actually worth getting?

    • @zeyfuller
      @zeyfuller 3 ปีที่แล้ว +1

      @@thrpotatoasfgfejfidieiidkr7071 I actually live in Ann Arbor so that's the exact job market I'm dealing with lol. Don't really have an answer for you though.
      Still remember when the Ypsi Walmart told me I wasn't qualified to stock shelves when I already had an associate's... It closed last year.

  • @toddbu-WK7L
    @toddbu-WK7L 3 ปีที่แล้ว +105

    I’ve long argued that inflation hurts the poor the most. If you own stuff that retains its value like a house then that value more-or-less increases with inflation. But if all you do is deal in cash, like renting an apartment, then the value of that cash decreases over time. When we bought our first house 30 years ago, that $700/month payment seemed impossible to pay. Now we spend that easily on food each month. But once you own the house it is yours to keep and the value continues to increase in most cases.

    • @Kandralla
      @Kandralla 3 ปีที่แล้ว +24

      You don't have to argue it. It's well known. People who are rich can afford to hedge against inflation. If you bought a house a reasonable mortgage payment and you plan on holding it long term you'll probably be okay too... but if your sitting on cash, you're screwed.

    • @nickstone1167
      @nickstone1167 3 ปีที่แล้ว +5

      @@Kandralla Kinda have to sit on cash when poor, if nothing else to run with for a crisis. That, or to pay off an asset more, but that's true of most things you cant afford today: you pay over a long time.

    • @PeterMikeSolomon
      @PeterMikeSolomon 3 ปีที่แล้ว +7

      The thing about inflation is that you can't afford to be poor when it hits

    • @statinskill
      @statinskill 3 ปีที่แล้ว +5

      If you can afford the $99999999999999999999999999999999999999999999999999999999999999.... property tax.

    • @eastonvonschist2283
      @eastonvonschist2283 3 ปีที่แล้ว +12

      Technically one never owns a home outright because the government controls the property.

  • @nyarlathodorp4439
    @nyarlathodorp4439 3 ปีที่แล้ว +61

    My family foreclosed in 2010 (I had just graduated high school) and we got stuck in a rent sink hole for ten years, got evicted this year, FINALLY bought a house and now my parents are both on temporary disability and probably won’t be able to afford the mortgage even though we’ve got 3-4 sources of income barely keeping this shitbus running.
    Thanks but no thanks, I think I’ll just live in my van.

    • @i-never-look-at-replies-lol
      @i-never-look-at-replies-lol 3 ปีที่แล้ว +4

      Find a nice river to live down by!

    • @nickstone1167
      @nickstone1167 3 ปีที่แล้ว +1

      And get used to a diet containing government cheese.

    • @wolfgang2453
      @wolfgang2453 3 ปีที่แล้ว +1

      Hey, if you don't have a house, that's property tax you don't have to pay! Although a kitchen and a bathroom sure would be nice..

    • @MurakamiTenshi
      @MurakamiTenshi 3 ปีที่แล้ว

      @@wolfgang2453 gotta make it work with public toilets and sponge baths...

    • @nyarlathodorp4439
      @nyarlathodorp4439 3 ปีที่แล้ว

      @@MurakamiTenshi planet fitness for showers, black card membership for out of state travel. I use the gym anyway, so win-win for me.

  • @Erin____
    @Erin____ 2 ปีที่แล้ว +2

    Nobody wants to work. Must of us need to. Because there is no basement to move in to. The only fallback plan is a tent

  • @HealingEagle2
    @HealingEagle2 3 ปีที่แล้ว +90

    I definitely feel this one. I make more money now than I've ever made in my life, and at the same time I've never been further away from owning a home. I think every day about just saying "fuck it" and just throwing in the towel, because I can never actually make it.

    • @StarboyXL9
      @StarboyXL9 3 ปีที่แล้ว +1

      I hope there are a ton more people like you

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +16

      @@StarboyXL9 There are. I'm a silicone valley engineer, 33 years old. Born and raised here, and I make good money. There is *no way* I can afford a home. I'm tired, frustrated, and just plain done with it. Quit my job, just gonna do some other things for a while. I worked so hard to get somewhere (no college degree) and it just gets further and further away every month.

    • @Opethfeldt
      @Opethfeldt 3 ปีที่แล้ว +2

      Sometimes we just have to adjust our goals in life. Some things just aren't possible but you may discover that your dream can still be achieved, it just may look a little different than you envisioned.

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +3

      @@gadflyofhumanity_6847 Yeah you say that, but I spent 10 years in trades, learning, but not earning. So I'm not better off than anyone else. Also, being 33 makes me an old millennial, not a Boomer, my dad, at 75 is a Boomer.

  • @brmhwb
    @brmhwb 3 ปีที่แล้ว +543

    Please run for the senate, or president. You have my vote.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +396

      Oh hell no.
      Take Trump for one example. *Candidate* Trump said Obama's economy was fake and the stock market was only doing well because interest rates were being kept artificially low. So, you'd think he'd advocate for higher interest rates once in office, right? No - *President* Trump yelled bloody murder at the slightest inkling of interest rates going up. I can't find it because his twitter got deleted but I'm sure someone can if they search. _President_ Trump did a total 180 on _Candidate_ Trump's stance, not dissimilar to most politicians.
      Everyone talks a good game about what they'd do once in office, but there's a reason why most never do anything. Actions taken for long term benefit often have far reaching, miserable short term consequences. No one who gets voted in/out of office every 2, 4, or 6 years wants to be associated with the miserable short term consequences. Anyone can point out problems, but no one wants their head rolling in the guillotine while administering the foul tasting, painful medicine necessary for things to return to normal.
      99% of the things I'd want to do I'd probably have my head rolling in a gutter if I actually did because I wouldn't be in office long enough, or alive long enough for it to happen. Politicians have a rational self interest in keeping things good enough that people don't tip over the monopoly board called society altogether, just long enough for the next jackass to get voted in and get blamed when it all goes to hell.
      Someone may vote for me now based on one thing I say that makes sense. But the moment anything I do that *sounds* like it makes sense causes any short term pain for people it'd be off with my head at worst, voted out of office in shame at best, hated by a majority of voters in America, blamed for every problem.. screw that. I'm not playing that game, I don't hate myself enough to be a politician in 2021 America.

    • @bahersalah3502
      @bahersalah3502 3 ปีที่แล้ว +43

      ​@@rossmanngroup Don't live in the US but i remember when the US was the dream for many people in my country but from the recent events and knowledge about life there from the internet. everyone i know is leaning either to Canada or the UK

    • @stationrecreation3066
      @stationrecreation3066 3 ปีที่แล้ว +39

      Santa claus is to children
      What
      Politicians are to adults

    • @bahersalah3502
      @bahersalah3502 3 ปีที่แล้ว +17

      Oh btw i don't hate Americans just hate the system

    • @AcesnEights698
      @AcesnEights698 3 ปีที่แล้ว +24

      Imagine thinking voting means anything. There's too much at stake by the power brokers to have their aims disrupted by 'voters'.

  • @GTRNights
    @GTRNights 3 ปีที่แล้ว +37

    On the other end of things, I'm a professional who has a decade in my field and was in the top 7% of earners, lost my position, and have been trying to find a new position for almost 3 months now. As of December, I'll miss rent and 10 days later will get an eviction notice. I've applied to 145 positions, only gotten a handful of callbacks, and a lot of them want me to work for them for less pay than I got starting out in an entry-level position 10 years ago. This job market is absolute insanity.

    • @Dre2Dee2
      @Dre2Dee2 3 ปีที่แล้ว +2

      Wait... how are you out of money in the 3 months? What are you spending your money on? Shouldn't you be getting unemployment + some savings? Should have a year of costs set aside at least

    • @GTRNights
      @GTRNights 3 ปีที่แล้ว +9

      @@Dre2Dee2 I was saving, my expenses are 4500 a month. Rent here is 1770 for a 1 bedroom. Also paying child support for 3 kids and the divorce reset me to 0 basically. Unemployment hasn't paid out in 7 weeks because of "pending issues" because I had to report the severance I got. It's capped at 700 a week anyway and that's not enough to meet my basic bills so yeah. If I don't find work soon I'm on the streets. Got nowhere else to go, no family.

    • @DrDRE4391
      @DrDRE4391 3 ปีที่แล้ว

      @@GTRNights
      You should probably think about moving to a different locale or state. Some place out there needs your professional skills. It would also allow you to have a fresh new start.

    • @GTRNights
      @GTRNights 3 ปีที่แล้ว

      @@hirondelle8734 That will never happen in the US as long as our political system exists to serve capitalists first. There's a finite amount of money, and both parties would rather that money go to corporate subsidies and government contractors. They see money going to ordinary people as a waste. A big reason for that is that it's corporations and corporate owners who are the primary source of income these politicians use for re-election. As long as bribery is legal here, the person with the most money wins. Anything that would actually benefit real working people is gutted or thrown out in favor of lobbyist-written bills that only benefit corporate interests.

  • @BenJamin-pd4mp
    @BenJamin-pd4mp 3 ปีที่แล้ว +1

    As a childless adult who didnt finance his house has over 5 years worth of bills and living expenses tucked away in savings and could go another 5 years of not working if I sold my metals I was 2 years away from paying cash for second home now I dont even know if i could buy another home in 5 years if I lose my job I probably wont be getting another one since I only cared to buy another home I have all my 1000 to 5000 dollar items and cars are just a horrible investment and since I'm a childless adult I cant work fulltime the taxes are so bad

  • @jimfrench2001
    @jimfrench2001 3 ปีที่แล้ว +145

    Another aspect of the dissatisfaction some people have always had with their jobs is that many employers force employees to do things the employees find unethical. It is put up with when the income from that job covers expenses and then some. First take away the "then some" and then take away the ability to cover expenses and people think, "Why am I working to screw other people?". All the little rationalizations that allowed people to ignore the BS parts of their employment start to fall away when you lose any modicum of respect for the jackhats that write your check.

    • @wingracer1614
      @wingracer1614 3 ปีที่แล้ว +20

      The best paying job I ever had was a job like that. I walked out after just two months despite being in the middle of the last recession. Life is too short to put up with shit like that.

    • @rossmanngroup
      @rossmanngroup  3 ปีที่แล้ว +56

      I worked at LaptopMD for 4 days in early 2009. I never actually collected my pay. I just quit. I hope more people freelance & start their own businesses when they're asked to do immoral things to make money.

    • @rudeboyjohn
      @rudeboyjohn 3 ปีที่แล้ว +20

      @@rossmanngroup When I was a kid I got into some of the best private universities in the world for music. I was convinced by a parent that the right thing to do was to get a "real job" that would provide. Well, I got that "real job" and all it did was take my time and ruin my emotional well being. Now, with all that's happening it's no surprise the company basically kicked us as we were down. I'm in my mid 30's now and I'm considering returning to music to freelance and work for myself. It may not make me rich but atleast I'll live with purpose.

    • @therealb888
      @therealb888 3 ปีที่แล้ว +2

      @@rossmanngroup You've been one of the most grounded & direct voices on youtube, out of curiosity what made you quit LaptopMD? What was going on that was immoral?
      This sounds cliche but you are an inspiration, from failing in chemistry to working at minimum wages to mastering electronics & board repair better than I ever might to entrepreneuring & becoming a R2R Activist.
      I wanna entrepreneur too, I do have a few ideas centered around electronics repair, mostly testing related but one of my concerns is finances. I come from a not so financially secure background to put it lightly. At this point of your life, do you make enough to be ahead of the housing mafia as business owner?. Was it hard at first to meet your expenses? How long did it take for you to be financially secure? Are you millionaire or a multi millionaire & how long did it take for you to get to it?

    • @dominick358
      @dominick358 3 ปีที่แล้ว +6

      @@rossmanngroup I worked two days at this restaurant that one the outside looked great. Chef/owner told me to serve pork chops that were so rotten and green that I would want to throw up after opening the bag. Left that spot so quick and now have trust issues with eating out.

  • @dusi125
    @dusi125 3 ปีที่แล้ว +76

    "You will own nothing, and you will be happy" - World Economic Forum

    • @MannyRiberaOriginal
      @MannyRiberaOriginal 3 ปีที่แล้ว +13

      Unless you’re a small hat.

    • @KennethSee
      @KennethSee 3 ปีที่แล้ว +2

      Based comment and based replies.

  • @SickPrid3
    @SickPrid3 3 ปีที่แล้ว +29

    Carrot running away is literally what was happening to one of my friends. Every year for 5 or so years she kept saying " i just have to save up for one more year " while paying more in rent than what she would for mortgage including all costs tied up to owning house. It's ridiculous

  • @patrickpaterson8785
    @patrickpaterson8785 3 ปีที่แล้ว +1

    I love that he picked Nashua lol. Nashua is a pretty safe place to live with a ton of shopping, restaurants, and is close to a lot of industry. Also pretty much equidistant to the White Mountains and a lot of beach spots in Maine. I think many places in NH, like where i live- the housing prices are going to go batshit crazy because a lot of people from big cities are realizing how nice it is to live up here.

  • @wellyano6964
    @wellyano6964 3 ปีที่แล้ว +38

    Prices have been going nuts in Australia for the last 8 years but accelerated in the last 12 months. Sydney's median house price is now $1.3 million, a jump of $308,000 over the past 12 months, or $843 a day.

    • @Cree_Money
      @Cree_Money 3 ปีที่แล้ว

      Wow!

    • @my3bikaht88
      @my3bikaht88 3 ปีที่แล้ว

      Sochi, Russia. Prices skyrocketed more than double in one year.

    • @1102-z7m
      @1102-z7m 3 ปีที่แล้ว +1

      Australia has fallen

    • @domlipski5226
      @domlipski5226 3 ปีที่แล้ว

      Ye, im done with major cities in Australia. Thinking of moving to Bundy of all places.

    • @GeeMannn
      @GeeMannn 3 ปีที่แล้ว

      that's fucking insane. This is a true harlequin world

  • @rfengr00
    @rfengr00 3 ปีที่แล้ว +137

    It’s wrong to assume your parents will have a house you can move into, as we are already half a generation from the 2008 financial meltdown. The goal of Black Rock, etc, must be to have 70% of the population as tenets. Here in Kansas City suburbs, I have not seen new, single family home development in years. It’s all these 5 story apartment complexes going up.

    • @in3audio932
      @in3audio932 3 ปีที่แล้ว +24

      Just like Europe:) houses are for "rich" people in my country

    • @nickstone1167
      @nickstone1167 3 ปีที่แล้ว +18

      You forget the McMansions they're building down south of KC. Damn near nothing else these days: new and expensive apartments or homes for the upper middle class or upper class. Nothing else.

    • @doomedwit1010
      @doomedwit1010 3 ปีที่แล้ว +18

      I'm fine with apartments. A 20 unit building occupies the space of 6 houses. If those are full that's fine. And they lower demand on the house rental market.. The issue is the affordable houses are becoming rentals. That's the problem.
      That said be nice to see more condos. But God with current politics the board meetings...

    • @nickstone1167
      @nickstone1167 3 ปีที่แล้ว +12

      @@doomedwit1010 Apartments going for 1000 or more for a 1br, that's not better. Most mortgage payments dont reach that level. I refuse to believe nobody can build more affordable newer complexes, because by god is maintenance inconsistent as hell in older complexes.
      Its basically a choice between skipping PMI by somehow saving 20% of a 300k home (good luck), or eating PMI and at times paying double the interest you'd otherwise pay for that home.
      Taxes and interest being low means nothing if the base price it's taken AS A PERCENTAGE from is constantly increasing, as that means the minimum costs per month will go up. Meaning at some point, income must rise...or you must sell. Hopefully you'll sell in a sellers market.
      Tbh aside crashes like 08 idr if there's ever been a good buyers market for homes in recent history. It just seems a constant race by governments and corporations to outrun their debts by constant growth, even if much of that growth require Gov't assistance to occur.

    • @wolfgang2453
      @wolfgang2453 3 ปีที่แล้ว +16

      Even in my small town in Arkansas they haven't built new single-family homes in almost 20 years. They've built a small development of *duplexes* that all got bought up to be rented out by the same families that own half the houses my neighborhood. It doesn't matter where you live, most housing will be owned by like 5% of the population in the next 10 years and the prices will just keep going up until someone snaps and sparks a movement that I doubt will be nonviolent.

  • @brad885
    @brad885 3 ปีที่แล้ว +36

    "You will own nothing and you will be happy." It's what they want. Eventually, companies will start to provide housing and we all know where that path leads.

    • @MacmanReturns
      @MacmanReturns 3 ปีที่แล้ว +15

      Your neighborhood: Brought to you by Pfizer

    • @zixinnie9796
      @zixinnie9796 3 ปีที่แล้ว +11

      Every day we move closer to serfdom

    • @christokeller7216
      @christokeller7216 3 ปีที่แล้ว +1

      They already do, for foreign workers. I know my local grocery store owns a dorm, but they keep it hush hush.

  • @SleepyMatt-zzz
    @SleepyMatt-zzz 3 ปีที่แล้ว +48

    We're experiencing this in Canada (Probably worse). Considering that the potential for upward mobility (Home ownership) was the thing that allowed people to tolerate our current capitalist system, I am honestly shocked (though not surprised) that politicians are not treating this with the seriousness it deserves. This should be treated as a national security threat.
    Governments risk stability of their nations if the citizenry have nothing invested in the system. Part of the problem of course is that older generations (Starting with GenX) are absolutely clueless with how bad things really are, either that or are aware but are not willing to say it out loud.
    I've had arguments with my parents about this because of how clueless they are acting. They bough their first house in 1998 for $120,000 (CAD), in 2018 they sold it for $750,000 (CAD), and I'm sure the pricing for it is around a million dollars today. my parents think my wife and I will be about to purchase a home when even doctors have a hard time finding proper housing. They also mentioned that me and my 3 siblings aren't poor, we're just not "materialistic". I guess no one can be materialistic if they can't afford it.
    Absolute madness, absolutely black-pilled.

    • @AngryToasterOven
      @AngryToasterOven 3 ปีที่แล้ว +2

      And our governments (I'm USA) want to continue FLOODING our countries with immigration because... I dunno... diversity or something. We're fucked.

    • @SleepyMatt-zzz
      @SleepyMatt-zzz 3 ปีที่แล้ว

      @@Worldofourown2024 Dude shut up.

    • @Aor87
      @Aor87 3 ปีที่แล้ว

      @@Worldofourown2024 Meaningless word salad. Take yo meds.

    • @Aor87
      @Aor87 3 ปีที่แล้ว

      @@Worldofourown2024 Yes, it's all a giant conspiracy. Indeed, you and only you have the answers. You're such a very special and unique individual.

  • @danabanana4408
    @danabanana4408 3 ปีที่แล้ว +157

    Honestly this kind of thing is what gets you violent revolts. I am honestly surprised we still havent had people revolting. Give it a decade, this shit has been demoralizing millenials for over a decade, and now zoomers are going to have to go through this too.

    • @wingracer1614
      @wingracer1614 3 ปีที่แล้ว +24

      We are not at that point yet but I do fear it's coming and not too far away. The whole economy is so fragile right now, the smallest little thing could snowball out of control. For instance, this real estate bubble has to burst at some point. 2008 was a bad but the economy before and after it was fairly solid so we got by. What's it going to be like if that happens now?

    • @SupLuiKir
      @SupLuiKir 3 ปีที่แล้ว +10

      Across the pond, I'm seriously wondering why they haven't had French Revolution 3 by now.

    • @quintessenceSL
      @quintessenceSL 3 ปีที่แล้ว +18

      It doesn't matter if you revolt because you don't have a plan to fix things and no one can agree.
      No one even has an idea of what a better world would look like, and any change beyond "getting the right people in" is too radical, too foreign, too scary.
      Sad truth is there will be no rebuilding except on the ashes of now, and a lot of people are going to suffer in the process.

    • @i-never-look-at-replies-lol
      @i-never-look-at-replies-lol 3 ปีที่แล้ว +5

      @@quintessenceSL the best part about revolts is everyone overthrows the scapegoats and then pretends like everything went back to normal

    • @santiagoeltoma5122
      @santiagoeltoma5122 3 ปีที่แล้ว +2

      They will become doomers

  • @Baldarq
    @Baldarq 3 ปีที่แล้ว +18

    Its not just inflation in housing, my grocery bill had tripled this year even though I've cut back on what I eat. Oh and no raises for 16+ months to preserve shareholder confidence...

    • @jandoerlidoe3412
      @jandoerlidoe3412 3 ปีที่แล้ว +1

      grocery bills are the new terror...

    • @manictiger
      @manictiger 3 ปีที่แล้ว +2

      In conjunction with that, I've seen labels drop off the shelves, especially Organic ones. One of these days, the meat section will just be flat out empty. Won't be any eggs or cheese or milk.
      And no one will have thought to stock up on K2 + D vitamins, Lysine, general multivitamins, Biotin, etc. Malnutrition will set in, followed by famine.
      They let the doctors think for them, so they don't know nutrition. They let packaging plants think for them, so they don't know humidity and oxygen control. They let police think for them, so they can't defend themselves. They let hospitals think for them, so they can't dress wounds. They let fire departments think for them, so they don't have the firefighting equipment to handle large fires. They let advertisements think for them, so there's not a single piece of wool, leather or sheepskin in their house, with which to handle the cold.
      They have no skills, no training, no resources and no foresight, but they feel perfectly safe; in fact, they even have the gall to call me tinfoil hat. Sad.

    • @1dismantler
      @1dismantler 3 ปีที่แล้ว

      The raises were there for everyone with money in the stock market. It somehow continues to climb while the rest of us continue to fall.

  • @evilshiloh
    @evilshiloh 3 ปีที่แล้ว +27

    5 years ago my wife and I were looking for a house. We almost signed a contract but it fell through. Then my job changed with a promotion but my new office required a long commute so we put off looking for a house in order to pay off debt. Now we are debt free, we have money in savings and I am back to my old work location so no long commute anymore. Even though we are able to spend more on a house than we could 5 years ago what we can afford is worse than what we looked at 5 years ago. Louis is right, the dream of home ownership is speeding away even though financially we are in a good place.

    • @1102-z7m
      @1102-z7m 3 ปีที่แล้ว +1

      being debt free is the very first thing everyone should be trying to acheve.

  • @Ausfailia
    @Ausfailia 3 ปีที่แล้ว +2

    Here in Australia I earn the median wage, I've saved up $112,000 AUD and I still cannot afford a house. Prices have risen over 20% in one year

  • @amyw4216
    @amyw4216 3 ปีที่แล้ว +7

    I live in a 1994 rehabbed mobile home that had sat vacant for many years on family land. Have done renovations bit by bit. For years I have received criticism and have been the topic of judgement for not “reaching for more”. When I became a single mom, this house allowed me the freedom to raise my children in peace and safety, and gave me the flexibility to stay home with them and just work part time the years they needed me most. I traveled the world as a child and am satisfied with that experience. I have only wanted to live a peaceful life, saw where this world was headed in my twenties, and decided not to be a cog in the big wheel and believe the lie that my value is determined by what my life looks like materially. My children are adults now, married with their own families and taking a similar path with much peace and contentment. My main critic is now selling their big nice house in the city and trying to subtly pressure me off the land because they see the value in it now. All these years it’s been the place they “would never live at”.

  • @primmakinsofis614
    @primmakinsofis614 3 ปีที่แล้ว +113

    "You'll own nothing and you will be happy."
    Serfdom is back, baby!

    • @alanramone4263
      @alanramone4263 3 ปีที่แล้ว +16

      Live in pods and eat bugs.

    • @mylesdavis135
      @mylesdavis135 3 ปีที่แล้ว +16

      Funny thing, serfs had more leisure time than we do.

    • @krel7160
      @krel7160 3 ปีที่แล้ว +5

      @@mylesdavis135 Yeah, what were those barons thinking? They could've earned SO much more! Truly, society has advanced. /s

    • @Greenitthe
      @Greenitthe 3 ปีที่แล้ว +1

      @@krel7160 They should have been pulling themselves up by their bootstraps, work 80 hours a week enriching their liege for a few extra scraps. What has society become, serfs thinking they deserve time off... Such entitlement, such laziness /s

    • @comradesillyotter1537
      @comradesillyotter1537 3 ปีที่แล้ว

      @@alanramone4263 we already live in the pods and eat bugs, and by God do we all feel it

  • @zacharysamenfeld2487
    @zacharysamenfeld2487 3 ปีที่แล้ว +90

    It's difficult to express, more difficult to receive. But Louis, you have my respect. You're an inspiration man.

  • @snowmanggaming3708
    @snowmanggaming3708 3 ปีที่แล้ว +17

    It just reminds me of my dog, if I never let him win a game of tug of war, he thinks what's the point of playing if I am gonna lose anyways.

  • @fluffywolfo3663
    @fluffywolfo3663 3 ปีที่แล้ว +83

    And that first part about realizing how disposable you are isn’t even touching on some of the shit treatment. So many people just found their breaking points.

    • @eragon78
      @eragon78 3 ปีที่แล้ว +3

      Yea, its tough. Ive been looking around for jobs in my region and its incredibly depressing. Basically everywhere around here has shitty work conditions that dont care about their workers with shitty pay.
      I cant even get an interview for any job here that pays more than 12$/hr. Any job that even is paying 15$/hr ends up with massive lines of people for just a handful of positions.
      I really just cant take a job for 12$/hr. I would end up working full time for years for who knows how long and still end up stuck living with my parents because Im single and cant afford to live on my own even with a full time job. Its depressing. Ive just been trying my hardest to find something a little better so I at least have a chance to move out one day, but things only seem to be getting worse.

    • @krel7160
      @krel7160 3 ปีที่แล้ว +1

      @@eragon78 Try living with your parents and having to work a job alongside them just to make the ends meet. You don't live in their basement, but they don't get to retire. And you don't get to move out. They will work until their fingers become bones, and then you will have two less people helping pay the bills.
      Even if you own the land.. What future do you have?
      I've long had the rather cynical thought that I'll make two investments in my life. Finding a job I'm at least happy with, and friends to spend my pitiful off time with. My second investment? A politically incorrect bang stick so that I have a plan B. The debt isn't your problem anymore if you're not still here to see it.
      ... Or maybe that's too dark, I'm really not sure anymore. Call me when the next civil war breaks out, maybe we can change things then. Otherwise, don't wake me up until the next crash begins.

  • @_NoDrinkTheBleach
    @_NoDrinkTheBleach 3 ปีที่แล้ว +17

    Zillow has turned from a real estate site to a doomscrolling site. There were two homes listed near where I live that had absurd listing price jumps. One was a home that had a listing price of $28,000 in 2013 to $220,000 in August of this year. The home had not had even $100,000 worth of renovation to justify that increase. Another went from $68,000 in 2017 to $240,000 at present. All they did was put new siding on the house.

    • @gustavomendez6279
      @gustavomendez6279 3 ปีที่แล้ว +4

      This is what I always think about. What has actually improved these homes to the point of justifying the new price tag? This is all seems to be an artificial scarcity being caused by huge companies buying out homes to inflate prices and resell. More of the 'profits before people' mentality that hurt us as a whole.

    • @victormendoza3295
      @victormendoza3295 3 ปีที่แล้ว

      @@gustavomendez6279 artificial or not if people don't make moves you will be left in the dust. Yeah I have also seen this issue though.

  • @hydraulichydra8363
    @hydraulichydra8363 3 ปีที่แล้ว +213

    We may need to reframe the question from "How do I make it in this shitty situation that the politicians have made?" to "How do I (we) force the politicians to stop making/keeping the situation shitty?"

    • @LookyLoon
      @LookyLoon 3 ปีที่แล้ว +18

      This is the way they want it to be. Enslaved to the employer class forever. It isn't anything new, it has always been the plan.

    • @dman6443
      @dman6443 3 ปีที่แล้ว +9

      Destroy the fed or leave the dollar one or the two

    • @dman6443
      @dman6443 3 ปีที่แล้ว +1

      @@BigGainer98 we got crypto and gold and silver. Banks could declare independence from the fed. The fed and the dollar is an illusion that only exist if the people participate in it. Same thing with the government. It only has power if the people allow it and treated as the authority. This why the constitution says “consent from the governed” it’s no difference. There is a solution it just won’t be the solution the average politician wants to do and people are either too lazy or too afraid to do.

    • @dman6443
      @dman6443 3 ปีที่แล้ว +2

      @@BigGainer98 we could solve this problem tommorrow if we wanted to but we don’t want to. We wait til the system collapses then wanna change it.

    • @dandil
      @dandil 3 ปีที่แล้ว +2

      @@dman6443 pretty sure the US govt has flamethrowers dude, this ain't no Bossy Becky on the playground you can just ignore.

  • @ShakespeareCafe
    @ShakespeareCafe 3 ปีที่แล้ว +25

    Not just expensive but prohibitively expensive. This is why you see epic homelessness here in California. A large part of that population is invisible. The working homeless living in their vehicles. Look around you.

  • @GilFavor101
    @GilFavor101 3 ปีที่แล้ว +93

    "Inflation" is 2%, but if you add in what they don't count, housing, education, and healthcare, real inflation has been 10-12% for decades.

    • @raven4k998
      @raven4k998 3 ปีที่แล้ว +6

      and accelerating thanks to Joe Biden

    • @rushthezeppelin
      @rushthezeppelin 3 ปีที่แล้ว +3

      This, I'm only 36 and the first home my mom and step dad bought would be easily affordable for me in my current pay. Unfortunately that property in rural Kentucky is likely way out of my budget when I'm making about as much as my mom was at my age. And it's not like I'm in some low skill industry. I often wonder if I even have the same purchasing power as I did when I first started in my industry a decade ago and was making probably 70% at best of what I make now.

    • @raven4k998
      @raven4k998 3 ปีที่แล้ว

      @@rushthezeppelin don't worry as inflation continues it will only get worse for you

    • @MCOlangotang
      @MCOlangotang 3 ปีที่แล้ว +1

      @@raven4k998 *thanks to Covid, since 2020.
      Fixed that for you.

    • @raven4k998
      @raven4k998 3 ปีที่แล้ว +2

      @@MCOlangotang it's ok just bring out your dead

  • @callmeizzy9785
    @callmeizzy9785 3 ปีที่แล้ว +7

    I live in South Florida. The median home price has gone up by a third in the past year in Palm Beach County. That is simply unsustainable...

  • @Xenotork
    @Xenotork 3 ปีที่แล้ว +74

    "You will own nothing, and you will be happy"
    they just need to make sure no one owns anything first.

    • @seetheious9879
      @seetheious9879 3 ปีที่แล้ว +4

      You will own nothing and start a revolution.

    • @dodo19923
      @dodo19923 3 ปีที่แล้ว +7

      @@seetheious9879 Lmao, what revolution? Burn everything to the ground then cry when it's all gone and people are living knee deep in shit while trying to google "How to have a functioning toilet without the threat of cholera?" People don't know HOW to revolt, they only know how to destroy and once they've done that all the people who COULD rebuild are either dead or have fled the country.

    • @1102-z7m
      @1102-z7m 3 ปีที่แล้ว

      @@chasesmith5123 amazing this has not already started

  • @jameslewis8355
    @jameslewis8355 3 ปีที่แล้ว +34

    This was my exact thought process this year when I first entered the house buying process.
    I worked as an engineer, and even with a decent salary, I was effectively priced out of most markets in my area. So instead of fomo buying into this market, I decided I would rather take a gamble on my education and try to pursue dental school. Sure, it may not be the wisest financial choice, but at least I won’t have to be miserable trying to compete in whatever this American dream is now.

    • @nepicness
      @nepicness 3 ปีที่แล้ว

      Hahahahah same here, was a GE and looking to hear back on December 1st, good luck man!

  • @Zachary-Daiquiri
    @Zachary-Daiquiri 3 ปีที่แล้ว +52

    Worst part about this? United states has it good compared to other housing markets. Median house price is (i think) 3-6x median wage. In certain Chinese cities its like 25x a median salary. Its still very possible to own a home, but you better change careers so that you can work from home. People working at physical locations in high cost areas are doomed

    • @phastfire
      @phastfire 3 ปีที่แล้ว +21

      >change careers to work from home
      >cannot afford a home
      yea this shit terrible

  • @deathicael7843
    @deathicael7843 3 ปีที่แล้ว +83

    I've been black pilled since I realized I'd never be able to afford the healthcare costs in America necessary to fix the herniated disc in my spine, and that was before covid. Try applying to jobs with a disability, they cant say no because you have one but they don't have to hire you if someone else is more qualified because they're not disabled.

    • @eragon78
      @eragon78 3 ปีที่แล้ว +21

      And to make it worse, its insanely difficult to actually get disability payment as well. My dad slipped 2 disks in his spine at his work and ended up disabled. It took over 3 years of fighting in court to finally get approved for disability and that was with VERY clear evidence that he was disabled.
      My sister is also disabled with lime's disease as well as some muscle disease (I forget the name of it). She's still fighting to get disability because she cant work for more than about 15-20 hours a week without getting flair ups and potential seizures, and she has been fighting for disability for almost 2 years now and still hasnt been approved.
      Its brutal out there.

    • @wolfgang2453
      @wolfgang2453 3 ปีที่แล้ว +27

      @@eragon78 It's curious how the people who genuinely need disability and unemployment and other social programs have the hardest time getting it. Almost like the system is designed to fuck over the very people it's pretending to help.

    • @life_of_riley88
      @life_of_riley88 3 ปีที่แล้ว +3

      Please do your best to get surgery my man. I hear you, and yeah it's terrible. I just had 2 discs replaced in my neck, and I can't tell you how much better life is now.

    • @happyguy2k
      @happyguy2k 3 ปีที่แล้ว

      Wow that sucks, what about moving somewhere with healthcare? I assume that will b difficult too

  • @Yavin4
    @Yavin4 3 ปีที่แล้ว +86

    Having a mortgage is not the same as owning your home. You can still be "kicked out" of your home by your bank.

    • @obsoleteoptics
      @obsoleteoptics 3 ปีที่แล้ว +54

      Owning your home is not owning your home, either. You still have to pay property taxes, and can be kicked out by your friendly local sheriff's department.

    • @Yavin4
      @Yavin4 3 ปีที่แล้ว +10

      @@obsoleteoptics True.

    • @SlickGamble
      @SlickGamble 3 ปีที่แล้ว +12

      You own the home, the bank has a lien on it because you borrowed money. Property tax is something someone will always owe so complaining you don't own it is a useless exercise. If you don't pay for the property tax because you own the land, you'll have to pay for utility access, fire department access, police coverage, etc out of pocket. Land has value so it will always cost something and so do the services because that's infrastructure that needs maintenance and manpower to keep it in service.

    • @incognitonegress
      @incognitonegress 3 ปีที่แล้ว +3

      @@obsoleteoptics 🙏🏽

    • @johnchedsey1306
      @johnchedsey1306 3 ปีที่แล้ว +11

      that's an oversimplification. The reality is if you pay your bills you stay in your home. The bank can't kick you out in that scenario. Secondly, if/when you sell and the home value has increased, you are pocketing the difference, not the mortgage servicing company.
      That said, it's depressing to know my current home loan's term is longer than the years I have ahead of me to live.