Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
If a foreigner does not plan to live in the country buyin a house to park ur money should be illegal. Corporations shouldnt be allowed to buy single family homes either.
@@betochiwas Freedom is not selective. You either have it or not. If the only freedom is for dictator and his cronies - it s not country of freedom. You are free to NOT sell your house to Chinese investor.
Anyone raise their hand if you think in 2025 there's going to be a major implosion of jobs, economic contraction, stock market correction and housing market cost correction. . . .
I don't think we're going to make it to 2025. We currently have the longest bond market inversion in US history. Longer than the 08' crisis, longer than the great depression. When this flips back, all hell going to break loose.
Beyond dumb. YOU DON'T OWN THE HOME! Why is the tenant responsible for landscaping, HOA fees, or property taxes? The point of renting is to avoid all of this and avoid home maintenance.
Technically a tenants rent pays for all of the above. Unless In the lease they are responsible for cutting grass etc. The way the hoa fee was stated threw me off though lol
We've lived in our house 40 years. Two of our neighbors moved one rented her house to a family the other was sold to a large rental company. Tenents in both houses caused thousands in damage. Renters do not take care of the homes.
It's not the interest rate its the Housing Prices. Low interest rates causes inflation. Ive been saying a 75% reduction in Prices across the Board and Double Digit interest rates .A house is suppose to have use Value not Speculative Value. People have to Realize that a house is not an investment it's a Liability. Anything that's not Paying you is a Liability.
I wouldn't put your hopes and interest rates dropping either! If interest rates drop 50 basis points to 100 basis points, you're going to have a deluge of buyers on the streets pushing up prices even more..... At least here in West Palm Beach 😂
If you can afford it amd you're biying a house yo live, for a long time, I think thats wise. I hate how people look at it as an investment first and a home distant second
Same here. Pulled the trigger in Jan of 22. Got in for 6%. Funny part is all of the armchair economist were screaming "incoming rate drop" and the rate is now 150 points higher. Had I listened to the hype, my family would still be in overpriced rentals.
Our county values increased over %10 just last year. Average wage is less than $35,000. That’s both untenable and unsustainable. It’s not just rent, mortgage, food, medicine going up. Who of these folks won’t be able to afford their taxes this year? Next? I learned depression stories from my grands. We may be headed for another one.
Let’s do black and Mexican dialog 😅, ( am Mexican) Sometimes working two jobs it’s the only thing we can do to save which is what I did but I know it’s very hard for some folks.
I have an ex who lives in Gilbert AZ. Shes paying $2300 a month in rent as a single working mom. She has her own small business, and idk how shes doing it. Shes always stressed though. Still cheaper than a mortgage would be for her in that area. Its a big joke. A bad joke. None of those homes are worth what they say they are.
@@WildOutWest1911 yeah same here in sw fl. They know the rents have to come down, but no one wants to be the first to do it. I was told this by one of the higher ups who runs a chain of "luxury" apt complexes.
Only in America is renting considered a bad thing. Once you move out of your parents home as soon as you get your first job, you’d need to rent for 5-10 years to save up for a house if you’re doing it as a single person.
Another big problem is remote workers in NY and California. They keep their same pay which can be 50% more than locals in lower cost states which similar jobs.
You still have to pay tax in the state you earn the money in. I live in California and thought about moving to a lower cost state because I do have a remote job, but I'd still have to pay California income tax and I would not be qualified to draw unemployment if that job ends.
Most middle class people like myself can only afford a townhouse or apartment condo in the Southern part of the States.I live in Georgia the lower country side near Augusta & border line of South Carolina.
I told my Florida landlord I was sick and thought it was the a/c. Well the house had toxic mold. $100,000 later in medical bills I would never rent. Eventually I spent $3000 in inspections before I realized it was the roof leaking too. I moved back to the house and got sick twice because I paid the property manager to check the a/c. He took $750 and didn’t check for mold. A/C needs replacing. My immune system is damaged.
Go to a functional medicine doctor. Majority of immune systems is in the gut. Start making bone broth and consume it daily. There are supplements to support your immune system. Functional medicine should be able to help you.
Drink Aloe Vera daily (best to blend fresh Aloe with coconut water - preferably no sugar added coconut water if from a box; add Cactus Tuna to the blend if you can find it. Blend the Aloe Vera, Cactus Tuna and Coconut Water together, strain and drink. Just slice the fresh plants, chop and drink).
My daughter & SIL moved to the midwest in order to afford a house. He's a remote worker and she's in a high demand field, so it worked for them. I'm a happy renter for now. I sold last year in Florida & waiting for the market to soften. Also, there's been so many layoffs, I'm giving myself time to see how that works out.
Only reason I pulled te trigger on a home was the pre 3% rate....Purhase price wasn't as bad either................Any tips for someone looking to rent out and still occupy the home in NY?
in my area in spring texas these rental houses are popping up everywhere, the rent is higher than my mortgage for a house the same size. a 3/2 is about 2300$ so it’s expensive. it’s crazy there are more new homes rentals than new homes for sale
I wxpect 90% off value because of cheap materials used for " construction" extremely junk economy and worse people are dying because of fraudchy picura.
I owned a house for 25 years. I really like living in a house but now live in a cottage on my daughter's property that I "rent" from her for $400 a month. A house needs upkeep to keep its value. Property taxes need to be paid. Things need replacing. To me it was a money pit. My daughter and her husband have paid out tens of thousands on repairs and renovations on their house but they aren't retired like me. I prefer spending my money on vacations in Spain and Thailand, thank you. Some people like the security of a house. Power to them.
The problem in AZ, even with mass new inventory due to new builds, those newly built homes seem to have tons of craftsmanship issues that make it terrifying to consider buying one.
There are fundamental legal issues at play as well. Homeowners go through underwriting, where banks approve their level of risk with you. They don't factor in forced plan insurance in the debt o living expense ratio. Insurance companies are stripping Americans of their generational wealth by dropping insurance against the basic fundamental contractual principles of good faith and fair dealing.
It is not a coincidence! It is like the oil market leading up to 2008. These companies are very opportunistic and are attracted to hot markets. Back in 2006, I remember Goldman Sachs took delivery of their oil futures (not typically done) and was storing barrels of oil as we had kicked off war in the Middle East. Goldman then wrote a report on how we were about to run out of oil and see a super spike from the then $100 high price. Oil ended up actually collapsing to $30 as the financial crisis unfolded. Don’t be afraid of these corporations doing rent to own. They will be hurt worst by the inevitable housing crash, and you will be buying those houses for pennies on the dollar.
One thing about these corporate landlords claiming they will take care of all the repairs. Well you should ask around the community before you rent. How long does it take them to repair something? Are they like…24 hour fitness which takes forever to repair their machines? I can bet you my money once you’re into a signed lease, if there is nothing in the lease that specifies a deadline for a repair..these corporate landlords will take forever to respond so that you can pay to repair it yourself…because you needed a working washing machine. So don’t take their words at face value. Ask if repairs are being done immediately. I had a private landlords who was at responding to repairs within 24 hours. But I know he is not the norm.
Try more like slum lords that will take weeks to fix something instead of days but have no problem collecting late fees the day after rent is due and raising rents to the max allowed annually
I am confused… You said the median HOUSEHOLD income was 66k in 2008. Then you went on to say today the median income is 76k…. Did you mean to say Median Household for both?
I wouldn't buy a home without being able to put 50% down payment, and if you can't manage that then no more than 25% of your net income should be your max mortgage payment on a fixed rate mortgage. This way you should be able to actually save money each month rather than fly by the seat of your pants hoping you have no unexpected expenses. You will have the money to pay these unexpected expenses. Be smart folks.
People under estimate the costs of housing it’s crazy. It’s not just downpayment and closing costs. Many people with mortgages they got qualified for but can’t actually afford. It’s sad. Appreciate the NET income comment. Idk why anyone would go off gross. Thank you for sharing!
A crash, or correction is inevitable. Home prices and rentals have been egregiously inflated along with high rates. Irresponsible lending and crim8nal pricing will come to a heavy fall. There is zero chance that it doesn't happen very soon.
Technically every renter pays property taxes, insurance, maintenance etc (the rent pays for it) I’ve just never seen it stated that the tenants are paying the hoa fee. Something about how they said it
I own a small lawn & landscaping business. The vast majority of landlords are extremely cheap and only want to do the bare minimum for property matience. The overall dynamic of neighborhoods with a higher homeownership rate vs a high rental rate is huge..
It makes perfect sense when you consider the rate of singles living single and buying homes. This trend was most notable in the 2010's and has only gone up.
@blackrealestatedialogue 44 million singles in American that would normally be 22 million couples seeking homes. Are competing for the 144 million homes in america. Which is nearly a third of all available houses. Blackrock which is often confused for owning homes outright. Owns controlling interest in numerous companies that do. They own roughly 5 million homes in america. There's another 7 million homes on airbnb. That also own a home themselves. There's another 64.1 million couples competing for homes. There's another 59million individuals over 60 who own their home Not to mention the thousand billionairs who each own 10 or more homes in america Oh and a dash of the millions of influx of immigrants we have added. And many h1b visas that purchase homes for thier stay. Did I mention there is only 144 million homes.....
Broooooo.... FACTS!!!!!! It totally started in 2008. And thats when investors started becoming landlords. Also add in the fact that Fannie Mae and Freddie Mac was taken over by goverment, and here is the problem. They were public/private/government owned which benefit the USA citizens. Now its gov controlled since 2008.
The 2008 housing crash was the result of the SUB-PRIME lending to unqualified home buyers. The situation in 2008 no longer exists in today's housing situation with all the safeguards put in place to make sure that 2008 never happens again. In 2024, home prices are high due to corporate buyers, rise in labor and materials cost after the pandemic, low inventory, etc. So, if a borrower with 60K a year salary and wants a home in LA, SF or SD complains the housing market is not fair. What can 60K buy in CALI???
People should worry about currency crash. BRICS is Brazil , Russia, India, China and Si and more countries just got rid of US dollar for trades like oil. People sleep one currency I would recommend to buy but can’t say in the comments. Do research
God that seems like such a bad deal. But also a delusional business model. I think these eventually fail due to cost/benefit and predatory issues being more understood by the general population. Paying the HOA fees and not even owning the home... 😂
It’s all cyclical folks that’s the way it’s always been in the real estate business. Now it’s probably not a good time to buy a home but I’m much better time to rent as rent is consistently going down in a number of areas. This year you will see the largest increase of apartment construction in over 51 years. And the pandemic was the biggest negative impact on the housing market, couple with a first ever moratorium on foreclosures and evictions.
some of us just want to own a simple amazon prefab home atleast an hour away from a major city but i know we wont even be allowed to. i guess we have to own nothing and be happy. so much for the glory of the american dream
That's honestly a bit of a deceptive number. That median income number is median HOUSEHOLD income. That's based on multiple earners. The median INDIVIDUAL income as of today is only $39,565. Homeownership for the average single person now is nearly impossible.
I used median household as a baseline to make an example but there’s def multiple ways the slice the data. I made similar comparisons in previous videos using the median individual income and the results are even worse
This is why I'm loving the proposed vacancy tax... 44% of homes in many high value areas in California are sitting vacant. Empty. Deserted. FORTY FOUR PERCENT!! 👀
It is harder to crash a market when 600,000 new millionaires were minted last year This inflation issue literally destroyed the value of money. Housing crash isn’t feasible because the values are out sink
@@blackrealestatedialoguefrom what i hear from brokers, RE agents and bankers.. business deals are happening but in cash transactions, 1031s, or 50/50 loans because using a normal bank 80/20 loan don’t cash flow. But they are doing great. Alot of that covid money is still bouncing around. What’s happening is the old businesses & neighbourhoods are being competed out by new ones. Those trillions of dollars that were printed in 2020-2021 have no where to go for years. The only way to flush that money out is by liquidating banks, paying off loans or getting taxed out of existence. It takes years and major calamities to flush that money out.
@@Yonkohepwhat specifically looked off? It was based on average interest rates 08 vs now, using the 08 median home sales price and 20% down payments using a mortgage calculator. Everyone’s individual situation varies and the point was to show how unaffordable housing is now vs 2008 which is pretty clear. Hope that clears it up.
I live in the most expensive County in the country (San Diego). A little over 4 years ago I purchased the most hidden diamond in the rough in the United States. I searched for 15 years while in my cubicle in New York city, and stumbled into where I am now. People see the manifestation of success but they do not see the stripping away of your soul in order to maintain said assets. Weed whacking five acres (Draconianly held accountable to fire codes wow municipal and administrative buildings are planting grass immediately next to their buildings. While I've made it, insurance companies are trying to drop me, forcing me to pay 15 to 18,000 extra per year in force plan insurance, paying all of this money extra for 85% less insurance than I previously had. This is after the underwriting process. Where are the consumer protection clauses? If an insurance company says they are stopping your coverage because of a particular item, where your insurance actually covers over 15,000 items, that is not fair. In contract law, when there is an unfair advantage amongst the parties, and in contract law if one party has an unfair advantage over another in the contractual negotiations, the contract is void.
Watch the FREE Out of State Investing Training -www.outofstatemoney.com/
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
Soon, cheap homes won't be cheap anymore because prices today will look like dips tomorrow. I think inflation will cause panic until the Fed tightens its grip even more. You can't just pull the band-aid Off half way. Booms and busts are the ups and downs of the economy, and they will affect any investments. If you are at a crossroads or need honest advice on the best steps to take right now, it is best to get counsel from a financial expert.
How can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
If a foreigner does not plan to live in the country buyin a house to park ur money should be illegal. Corporations shouldnt be allowed to buy single family homes either.
I see what you’re saying
Is illegal in my country for foreigners to be owners of houses if they are not living in the country. I don't know why America don't do that
@@betochiwas Because its country of freedom.
@@wacio Freedom for whom? Chineese investors? or Americans?
@@betochiwas Freedom is not selective. You either have it or not. If the only freedom is for dictator and his cronies - it s not country of freedom. You are free to NOT sell your house to Chinese investor.
Anyone raise their hand if you think in 2025 there's going to be a major implosion of jobs, economic contraction, stock market correction and housing market cost correction. . . .
👀👀
The next 3 years would be a better timeframe. If you have cash/liquidity it will be a buyer's market. Mortgage rates will go over 10%.
I think there will be markets where MASSIVE discounts for cash buyers will be available in the next 36 months.
I don't think we're going to make it to 2025. We currently have the longest bond market inversion in US history. Longer than the 08' crisis, longer than the great depression. When this flips back, all hell going to break loose.
I know right it seems everything is going NEGATIVE in the WRONG way. Unless you're RICH you can be doomed with job layoffs etc!!!😢
Beyond dumb. YOU DON'T OWN THE HOME! Why is the tenant responsible for landscaping, HOA fees, or property taxes? The point of renting is to avoid all of this and avoid home maintenance.
Technically a tenants rent pays for all of the above. Unless In the lease they are responsible for cutting grass etc. The way the hoa fee was stated threw me off though lol
Even with no mortgage you don’t own the house, skip paying the property taxes and see what happens.🤣😂
We've lived in our house 40 years. Two of our neighbors moved one rented her house to a family the other was sold to a large rental company. Tenents in both houses caused thousands in damage.
Renters do not take care of the homes.
It's not the interest rate its the Housing Prices. Low interest rates causes inflation. Ive been saying a 75% reduction in Prices across the Board and Double Digit interest rates .A house is suppose to have use Value not Speculative Value.
People have to Realize that a house is not an investment it's a Liability. Anything that's not Paying you is a Liability.
100% agree. The interest rates are a media distraction. The prices have gone wild the last few years. That’s what’s pricing people out.
I wouldn't put your hopes and interest rates dropping either! If interest rates drop 50 basis points to 100 basis points, you're going to have a deluge of buyers on the streets pushing up prices even more..... At least here in West Palm Beach 😂
@@jasonsargent5030 I'm for higher interest rates and Drastically lower housing Prices. Your Taxes and Payment is Based on the Price.
I decided to ignore all reports and buy a house anyway
Congrats!
If you can afford it amd you're biying a house yo live, for a long time, I think thats wise. I hate how people look at it as an investment first and a home distant second
Same here. Pulled the trigger in Jan of 22. Got in for 6%. Funny part is all of the armchair economist were screaming "incoming rate drop" and the rate is now 150 points higher. Had I listened to the hype, my family would still be in overpriced rentals.
@@squidishtendencies1523. maybe in case of nuclear wars prize of houses drop, otherwise, NAH!
@@Sarah33KaufmanThat's real. Nothing short of an apocalypse.
The everything crash is happening...look around...PAY OFF AS MUCH DEBT AND SAVE $...HINT...YOU DON'T HAVE TO BE DEBT FREE TO BUY HOMES.😊
YOU WILL OWN NOTHING AND BE HAPPY
That’s the goal
Our county values increased over %10 just last year. Average wage is less than $35,000. That’s both untenable and unsustainable. It’s not just rent, mortgage, food, medicine going up. Who of these folks won’t be able to afford their taxes this year? Next? I learned depression stories from my grands. We may be headed for another one.
Absolutely heart breaking
I'll tell you what is sad
We've been warned for decades!!!@@blackrealestatedialogue
Renter never pay property tax on the home they are renting. Idk why they felt the need to say that as if renters had that expense
It’s part of the rent technically and the landlord using the rental income to cover everything
@user-ji6qj1db3u yes it’s part of the rent. I’m saying it’s never been a separate expense. I own properties myself. Calm down
Let’s do black and Mexican dialog 😅, ( am Mexican)
Sometimes working two jobs it’s the only thing we can do to save which is what I did but I know it’s very hard for some folks.
Thanks for sharing and welcome to the channel!
I’ve watched about 10 of your videos back to back! Awesome work..
Wow, that means a lot to me. Thank you so much!
I have an ex who lives in Gilbert AZ. Shes paying $2300 a month in rent as a single working mom. She has her own small business, and idk how shes doing it. Shes always stressed though. Still cheaper than a mortgage would be for her in that area. Its a big joke. A bad joke. None of those homes are worth what they say they are.
I live in Gilbert, majority of homes on the rental market is primarily corporate landlords, fucking criminal and they are keeping prices elevated.
@@WildOutWest1911 yeah same here in sw fl. They know the rents have to come down, but no one wants to be the first to do it. I was told this by one of the higher ups who runs a chain of "luxury" apt complexes.
Only in America is renting considered a bad thing. Once you move out of your parents home as soon as you get your first job, you’d need to rent for 5-10 years to save up for a house if you’re doing it as a single person.
2300 in Arizona?! Wtf
@@insomnia9999 yup she was paying almost 2600 at another place before she moved and downsized
Another big problem is remote workers in NY and California. They keep their same pay which can be 50% more than locals in lower cost states which similar jobs.
That’s surprising. I figured companies adjusted their pay when someone goes to a lower cost of living area
@blackrealestatedialoguYou negotiate the salary for the work, not your lifestyle.
You still have to pay tax in the state you earn the money in. I live in California and thought about moving to a lower cost state because I do have a remote job, but I'd still have to pay California income tax and I would not be qualified to draw unemployment if that job ends.
Most middle class people like myself can only afford a townhouse or apartment condo in the Southern part of the States.I live in Georgia the lower country side near Augusta & border line of South Carolina.
I told my Florida landlord I was sick and thought it was the a/c. Well the house had toxic mold. $100,000 later in medical bills I would never rent. Eventually I spent $3000 in inspections before I realized it was the roof leaking too. I moved back to the house and got sick twice because I paid the property manager to check the a/c. He took $750 and didn’t check for mold. A/C needs replacing. My immune system is damaged.
Go to a functional medicine doctor.
Majority of immune systems is in the gut. Start making bone broth and consume it daily. There are supplements to support your immune system. Functional medicine should be able to help you.
Ya, ya, that’s just another tenant trick. Always trying to f the landlord. 😮You never qualified for anything. Just another looser
Drink Aloe Vera daily (best to blend fresh Aloe with coconut water - preferably no sugar added coconut water if from a box; add Cactus Tuna to the blend if you can find it. Blend the Aloe Vera, Cactus Tuna and Coconut Water together, strain and drink. Just slice the fresh plants, chop and drink).
My daughter & SIL moved to the midwest in order to afford a house. He's a remote worker and she's in a high demand field, so it worked for them.
I'm a happy renter for now. I sold last year in Florida & waiting for the market to soften. Also, there's been so many layoffs, I'm giving myself time to see how that works out.
Totally understand. Gotta do what’s best for you. Wishing you the best!
Great job, the problem is investing out state, it’s extremely hard to know exactly the neighborhood
Check out my free training (link in description) or one of the free guides I have. It explains the process and baseline info
Only reason I pulled te trigger on a home was the pre 3% rate....Purhase price wasn't as bad either................Any tips for someone looking to rent out and still occupy the home in NY?
in my area in spring texas these rental houses are popping up everywhere, the rent is higher than my mortgage for a house the same size. a 3/2 is about 2300$ so it’s expensive. it’s crazy there are more new homes rentals than new homes for sale
That’s crazy. Thanks for sharing info from your local area. Do you think it’s by design?
I wxpect 90% off value because of cheap materials used for " construction" extremely junk economy and worse people are dying because of fraudchy picura.
😫😫😫
I owned a house for 25 years. I really like living in a house but now live in a cottage on my daughter's property that I "rent" from her for $400 a month. A house needs upkeep to keep its value. Property taxes need to be paid. Things need replacing. To me it was a money pit. My daughter and her husband have paid out tens of thousands on repairs and renovations on their house but they aren't retired like me. I prefer spending my money on vacations in Spain and Thailand, thank you. Some people like the security of a house. Power to them.
The problem in AZ, even with mass new inventory due to new builds, those newly built homes seem to have tons of craftsmanship issues that make it terrifying to consider buying one.
Institutional landlords, I wouldn't buy into that, these companies want you to continue renting so that they can have all the equity.
The crazy thing is that institutional bulk purchasing homes has slower WAY down.
Finally someone figured it out. Excellent analysis and advice.
I appreciate it. It hit me recently
There are fundamental legal issues at play as well. Homeowners go through underwriting, where banks approve their level of risk with you. They don't factor in forced plan insurance in the debt o living expense ratio. Insurance companies are stripping Americans of their generational wealth by dropping insurance against the basic fundamental contractual principles of good faith and fair dealing.
It is not a coincidence! It is like the oil market leading up to 2008. These companies are very opportunistic and are attracted to hot markets. Back in 2006, I remember Goldman Sachs took delivery of their oil futures (not typically done) and was storing barrels of oil as we had kicked off war in the Middle East. Goldman then wrote a report on how we were about to run out of oil and see a super spike from the then $100 high price. Oil ended up actually collapsing to $30 as the financial crisis unfolded.
Don’t be afraid of these corporations doing rent to own. They will be hurt worst by the inevitable housing crash, and you will be buying those houses for pennies on the dollar.
THANK YOU--very clear and watchable.....Sad state...Blessings....
Appreciate you so much. You’re welcome
31 year homeowner... Best move I ever made...🥰🥰🥰🥰🥰
Landlords do indeed pass on property taxes, insurances, HOA fees onto tenants.
Absolutely I guess there are being super transparent lol
@@blackrealestatedialogue Yep
This is crazy. Looks like it's people like this buying up all the homes
@@6speed818They are Blackrock they work for the government that free rent causing landlords to loose everything now the government owns it all.
No, landlords collect rent. Their accounting is mere semantics.
Plenty of rentals do not cash flow.
One thing about these corporate landlords claiming they will take care of all the repairs. Well you should ask around the community before you rent. How long does it take them to repair something? Are they like…24 hour fitness which takes forever to repair their machines? I can bet you my money once you’re into a signed lease, if there is nothing in the lease that specifies a deadline for a repair..these corporate landlords will take forever to respond so that you can pay to repair it yourself…because you needed a working washing machine. So don’t take their words at face value. Ask if repairs are being done immediately. I had a private landlords who was at responding to repairs within 24 hours. But I know he is not the norm.
Very fair questions. I understand your perspective.
Try more like slum lords that will take weeks to fix something instead of days but have no problem collecting late fees the day after rent is due and raising rents to the max allowed annually
@@nickmattio3397 exactly. they are huge hypocrites.
Want institutional investors to lose. Dont rent from them. 👍👍
I live in Az no 10k raises. Not even a raise in. 2 years.
Awful 😫
Also adjust to current inflation 2008 dollars to today’s dollar buying value and it’s even worse vs. median incomes 2008 vs. 2024
Exactly that makes it even worse 🥹
I am confused… You said the median HOUSEHOLD income was 66k in 2008. Then you went on to say today the median income is 76k…. Did you mean to say Median Household for both?
great question, yes I meant median household income for both.
I wouldn't buy a home without being able to put 50% down payment, and if you can't manage that then no more than 25% of your net income should be your max mortgage payment on a fixed rate mortgage. This way you should be able to actually save money each month rather than fly by the seat of your pants hoping you have no unexpected expenses. You will have the money to pay these unexpected expenses. Be smart folks.
People under estimate the costs of housing it’s crazy. It’s not just downpayment and closing costs. Many people with mortgages they got qualified for but can’t actually afford. It’s sad. Appreciate the NET income comment. Idk why anyone would go off gross. Thank you for sharing!
Build to rent is deceptive but I get it. Renters can't afford to buy the home they want. There is no delayed gratification.
I get it too. From a business perspective they will have a ton of customers
A crash, or correction is inevitable. Home prices and rentals have been egregiously inflated along with high rates. Irresponsible lending and crim8nal pricing will come to a heavy fall. There is zero chance that it doesn't happen very soon.
I can def see a correction in some areas. Already happening in some part of florida
Since 1985 housing rental costs vs income has doubled. Housing is the new Soylent Green.
It makes absolutely no sense that it's gotten so bad
lul.. 104k a year here living in Phoenix as a single individual and I cant touch a home still. :(
Sorry to hear that, don’t give up!
People will never stick together. Don't buy or sell. Thing will correct real fast, and scumbag realtors will fall by the way too.
😫😫
Property taxes for rent? Wtf. That doesn’t make a damn sense.
Technically every renter pays property taxes, insurance, maintenance etc (the rent pays for it) I’ve just never seen it stated that the tenants are paying the hoa fee. Something about how they said it
By buying a house you will eventually own it. Cut back on outside eating and budgeting and you will learn to be comfortable with buying a home.
Fun fact you don’t actually own anything-you think you do. Paid of mortgages, but if i skip on property taxes they will come to collect 😂🤣👀
to have 2 children own a house and live a normal life in Silicon valley a family needs to make about 500 000
Keep feeding the streets fam
🫡🫡🫡
Did he say $750 per month but it's $1750 per month?
It misspoke unfortunately but I did mean $1750 as was listed on screen
As far as lawncare, a lot of landlords have contracts with companies to take care of their lawns, they know it gets done and to their specs.
Totally get that
I own a small lawn & landscaping business.
The vast majority of landlords are extremely cheap and only want to do the bare minimum for property matience.
The overall dynamic of neighborhoods with a higher homeownership rate vs a high rental rate is huge..
It makes perfect sense when you consider the rate of singles living single and buying homes. This trend was most notable in the 2010's and has only gone up.
Wow def something I hadn’t considered
@blackrealestatedialogue 44 million singles in American that would normally be 22 million couples seeking homes. Are competing for the 144 million homes in america. Which is nearly a third of all available houses.
Blackrock which is often confused for owning homes outright. Owns controlling interest in numerous companies that do. They own roughly 5 million homes in america.
There's another 7 million homes on airbnb. That also own a home themselves.
There's another 64.1 million couples competing for homes.
There's another 59million individuals over 60 who own their home
Not to mention the thousand billionairs who each own 10 or more homes in america
Oh and a dash of the millions of influx of immigrants we have added.
And many h1b visas that purchase homes for thier stay.
Did I mention there is only 144 million homes.....
Great coverage. Yiu help keep it simple. Thanks.
I truly appreciate it thanks for your support!
How can you charge property tax and HOA for something that is not yours.
Great set of attorneys that know how to bend the rules, simple.
Propaganda housing video. They tripping
What part of this is propaganda?
Broooooo.... FACTS!!!!!! It totally started in 2008. And thats when investors started becoming landlords. Also add in the fact that Fannie Mae and Freddie Mac was taken over by goverment, and here is the problem. They were public/private/government owned which benefit the USA citizens. Now its gov controlled since 2008.
The 2008 housing crash was the result of the SUB-PRIME lending to unqualified home buyers. The situation in 2008 no longer exists in today's housing situation with all the safeguards put in place to make sure that 2008 never happens again. In 2024, home prices are high due to corporate buyers, rise in labor and materials cost after the pandemic, low inventory, etc. So, if a borrower with 60K a year salary and wants a home in LA, SF or SD complains the housing market is not fair. What can 60K buy in CALI???
I bought my current home in 1999... I refinanced in 2020 @ 4.1% I'm never selling!!!🤔🤔🤔🤔🤔
People should worry about currency crash. BRICS is Brazil , Russia, India, China and Si and more countries just got rid of US dollar for trades like oil. People sleep one currency I would recommend to buy but can’t say in the comments. Do research
Florida is so overvalued. With insurance and taxes my prediction is people will leave
Also doesn't help that sub 1000 sq ft new builds are a thing of the past. New build "starter homes" are 300-350K in my area that are 1400-1600 sq ft.
God that seems like such a bad deal. But also a delusional business model. I think these eventually fail due to cost/benefit and predatory issues being more understood by the general population. Paying the HOA fees and not even owning the home... 😂
It’s all cyclical folks that’s the way it’s always been in the real estate business. Now it’s probably not a good time to buy a home but I’m much better time to rent as rent is consistently going down in a number of areas. This year you will see the largest increase of apartment construction in over 51 years. And the pandemic was the biggest negative impact on the housing market, couple with a first ever moratorium on foreclosures and evictions.
We are staying until it becomes unaffordable to live in the united states. Then we would just move to Africa.
some of us just want to own a simple amazon prefab home atleast an hour away from a major city but i know we wont even be allowed to. i guess we have to own nothing and be happy. so much for the glory of the american dream
That's honestly a bit of a deceptive number. That median income number is median HOUSEHOLD income. That's based on multiple earners. The median INDIVIDUAL income as of today is only $39,565. Homeownership for the average single person now is nearly impossible.
I used median household as a baseline to make an example but there’s def multiple ways the slice the data. I made similar comparisons in previous videos using the median individual income and the results are even worse
And the guy says “and your taxes” seriously they’re not your taxes unless you own the property what a bunch of bull!
If you're renter - you are paying the property taxes. Your landlord pays them from money you paid in your rent.
@@wacio no kidding.
Great Video… Helpful Information 💯‼️👍 Thank You So Much 🙏🏽💜
Glad it was helpful!
Your already paying as a homeowner 🤔
👀
The information is good, but the click of death is not.
Thanks for watching
Home affordability in the 2030’s….hopefully lol
🥹🥹🥹
This is why I'm loving the proposed vacancy tax... 44% of homes in many high value areas in California are sitting vacant. Empty. Deserted. FORTY FOUR PERCENT!! 👀
HOAs? Not even once!!!!😮😮😮😮
It is harder to crash a market when 600,000 new millionaires were minted last year
This inflation issue literally destroyed the value of money.
Housing crash isn’t feasible because the values are out sink
Totally get you. I’m wondering how much real estate helped people become millionaires the last few years
@@blackrealestatedialoguefrom what i hear from brokers, RE agents and bankers.. business deals are happening but in cash transactions, 1031s, or 50/50 loans because using a normal bank 80/20 loan don’t cash flow. But they are doing great. Alot of that covid money is still bouncing around. What’s happening is the old businesses & neighbourhoods are being competed out by new ones.
Those trillions of dollars that were printed in 2020-2021 have no where to go for years. The only way to flush that money out is by liquidating banks, paying off loans or getting taxed out of existence. It takes years and major calamities to flush that money out.
The math at 2 mins didn’t make sense unless I missed something
That was my mistake. I meant to say $1750 but verbally I said $750. Was that what you saw?
@@blackrealestatedialogue kinda I think the numbers as a whole are off
@@Yonkohepwhat specifically looked off? It was based on average interest rates 08 vs now, using the 08 median home sales price and 20% down payments using a mortgage calculator. Everyone’s individual situation varies and the point was to show how unaffordable housing is now vs 2008 which is pretty clear. Hope that clears it up.
I live in the most expensive County in the country (San Diego). A little over 4 years ago I purchased the most hidden diamond in the rough in the United States. I searched for 15 years while in my cubicle in New York city, and stumbled into where I am now. People see the manifestation of success but they do not see the stripping away of your soul in order to maintain said assets. Weed whacking five acres (Draconianly held accountable to fire codes wow municipal and administrative buildings are planting grass immediately next to their buildings. While I've made it, insurance companies are trying to drop me, forcing me to pay 15 to 18,000 extra per year in force plan insurance, paying all of this money extra for 85% less insurance than I previously had. This is after the underwriting process. Where are the consumer protection clauses? If an insurance company says they are stopping your coverage because of a particular item, where your insurance actually covers over 15,000 items, that is not fair. In contract law, when there is an unfair advantage amongst the parties, and in contract law if one party has an unfair advantage over another in the contractual negotiations, the contract is void.
💡
💪🏾
Florida is cheaper than Georgia
Where exactly?
Not when you add home insurance and property taxes.
Thank you for your honesty & good information. I'm so glad I stumbled across your channel. Subscribed!
Don’t save in cash! SAVE IN Bitcoin !!!! It’s the only way to save for a home !
A lot of investors have bought up arizona and that is why prices are to high.
I live in California also
It’s tough out here
I can’t buy a home. I guess a lot of us are in the same boat.
In Phoenix you hace to pay taxes on rent, living in apartments
In Phoenix you hace to pay taxes on rent, living in apartments
Its sad that these big corporations are killing the American dream.
Federal monetary policy and record hiring of government employees is distorting everything.
In some areas they are definitely making a negative impact
lol affordable is a joke now its dead dream
Great video
Thanks!
Become a power lineman
Dude, all if that " buying " shit is a scam
🥹