THEY LIED About The Foreclosure Crisis 10.7 Million STOPPED PAYING
ฝัง
- เผยแพร่เมื่อ 5 ก.พ. 2025
- THEY LIED About The Foreclosure Crisis 10.7 Million STOPPED PAYING
Check Out Melody's Substack: m3melody.subst...
Check Out Melody's TH-cam @m3_melody
STEP 1
Join the movement sign the petition: www.mockingbir...
STEP 2
Start Learning!
real-estate-mi...
Mitch Vexler Contact Info:
www.mockingbir...
/ travisremindset
For correspondence please email me at: Travis@RealEstateMindset.Org
FREE Helpful Links:
1. How Much Interest Really Cost Calculator
www.consumerfi...
2. How Much Can You Afford Calculator
www.calculator...
3. Debt to Income Ratio Calculator
www.calculator...
4. Amortization Calculator
www.calculator...
5. FHA Loan Calculator
www.calculator...
6. PMI Calculator
www.creditkarm...
Data Source:
1. m3melody.subst...
#HousingMarket #HousingMarketCrash #MortgageRates
Mailing Address:
2261 Northpark Drive #2118
Kingwood, TX 77339
DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Neither Real Estate Mindset or Travis Spencer are registered financial advisors. Your use of Real Estate Mindset's TH-cam channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, TH-cam, E-Mail, and Instagram) for communications with Real Estate Mindset does not establish a formal business relationship.
I’m in Ohio and the housing market here over the last 7-8 years is unlike anything I’ve ever seen. Homes that were bought for $130K in 2015 are now being sold for $590k. I’m talking about tiny, disgusting, poorly built 950 square foot shit boxes in quiet mediocre neighborhoods. Then you’ve got Better, average sized homes in nicer neighborhoods that were $300K+ 10 years ago selling for $750k+ now. Wild times.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
consider moving your money from the housing market to financial markets or gold due to high mortgage rates and tough guidelines. Home prices may need to drop significantly before things stabilize. Seeking advice from a financial advisor who understands the market could be helpful in making the right decisions.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Carol Vivian Constable” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
Property taxes should be a one time payment when the house is purchased. Ever increasingly property taxes when the home goes up in value is essentially unrealized gains tax
Thank public unions/jobs colluding with politicians. I can’t wait till hyperinflation and layoffs starts the revolution will get real then….im old and understand and study history. Always final nail in the coffin. USA is young country history will repeat itself. It’s long over due…
Who will pay for roads, police, firemen, public schools, etc.?
Kick that can a little further down the road.
All the infrastructure and services serving the home and people therein are financed through property taxes. Where will the operating cost come from for that infrastructure and services!
Tariffs - be productive 😎
"The Bank got bailed out AND they kept my house". How does that make any sense?!
It makes about as much sense as the banks not repaying. The newly created cash that banks lent into the economy.
Banks repaid in full from 2008 crisis
This is what happened to me back in the Obama days I lost my house everything I had has Obama bailed out the banks in the car dealers then he sent out a $600 stimulus the job for going downhill then he started finding people for not having Obamacare on their taxes 55 million people if not more lost their homes!
Was never your house was it. Banks house, that you failed to make all your payments on. Your mindset is a real problem in the USA.
The bank doesn't keep your house once the foreclosure is completed. They put it up for auction to the public which is regulated by laws. If they can't get any qualified bidders at the public auction to bid then the bank remains in possession of the home until they can find a buyer. Problem is most foreclosed homes in the past 8 or so years have mortgage balances and tax and other liens on them that exceed the value of the home so people are not going to bid on a financial lost. Now, many of the banks and other lending institution are forced into a "settlement" sale where the buyer can negotiate the purchase price of the home. But any shortfall to the people who own the mortgage will have to be made up by the bank itself. So the bank will loose money. Banks do everything possible to keep homes, properties from going into foreclosure as it not only costs the bank money to foreclosure but the local economy and the local neighborhood suffer greatly too. BTW, foreclosing is not an easy thing for a lending institution to do. They must follow the law especially if it's a FHA or VA loan. It can take up to a year for those forecloses to take place with many of the home owners still living in the homes without paying. And that also means the lending institution is not getting paid to the investors money for the mortgage in the first place. And guess who the average investor is? Yep, it's you and me. Where do you think the interest paid to us on our savings and investment accounts come from?
Went from 3500 SF house with a mortgage, to a 1700 SF dump with no mortgage. Lots of work yet to do, but I'm much happier.
With this crazy economy, where your job is not secure, inflation and greedflation is going thru the roof, dollar buying power getting weaker, national debt insanely high, and everything being made not to last, this is the conclusion I came to after the 2008 recession/depression. The less financial stress one can have the better your life is. Just ask a European, who have known this for awhile and have been working to live, not living to work.
@LuisRojas-uu4om less is more...I understand that now. Thanks for your insights.
WE DID THAT TOO ! THE WORK CAN BE DONE, IT'S JUST HARDER IF WE HAD A MORTGAGE PAYMENTS TOO !
Very smart you must be single?
The smaller you are the happier you will be. These big houses are going to suffer the most in this collapse.
The citizens of this country better take to the streets if they bail out these damn Banks again
Not when establishment defenders like writtenhouse are protected. No more protesting in the usa.
Humans have short Memories the banks always get bailed out
This time they will be bailed IN, using your deposits.
@@michaeldalton8374why are you saying the same thing? Over and Over on response?
@@bmanagement4657burning down, looting and vandalizing small businesses is not the same as protesting and sticking it to the big banks that were bailed out.
A family member bought 3 houses for his annual salary in the 1950's and 60's for his annual salary. He was an AT&T supervisor. That tells you what's happened to our currency going off the gold standard.
You are absolutely correct!
has nothing to do with the gold standard, thats a magat lie.
I was looking at a stunning historic home that sold for $650,000 in 1985.. Now that was certainly a lot of money in 1985 but adjusted for inflation they claim that is around 2 million in todays money.. but the home is listed for 11.5M lol. Real estate has become a total joke in the USA.. 2M is still a heck of of a lot of money for a house but let's be real... 99% of people that can afford a 2M home can absolutely NOT afford an 11.5M home that is an entirely different class of people. The property taxes will be over $90,000 per year.
@@davidgray1515 Okay. We can blame it on your comrades printing money, laundering it and handing it around to themselves and their friends for power and influence. Happy to be a "magat." I'd rather be prosperous and free than be a member of the Borg.
@ I responded to you and my comment was deleted. Hmm. Let me try phrasing it differently. It's about the Dem-bulbs m0ney l@undering, printing it, &handing it around to their c0mr@des for p0wer and we@lth.
People are foolish they actually think they own their homes. Stop paying taxes and you will find out quickly who owns your homes.
The alternative?
@@cjmuniz12 Submit or be deposed?
We have the double homestead exemption, once we claimed it prop taxes fell to $471 a year and once we turn 65 property taxes HALT for single people bringing 25k and less couples 30k,Military are tax exempt, So yes, we will actually own our home.
rent from bank or state or landlord its all foogazi.
100% true.
I remember at the time hearing this, my father said if Bush Jr. doesn't allow this to fail we'll never recover.
Your father was right! The economy has never recovered but gotten worst for the working and middle class American.
We also bailed out General Motors as well.. Everyone forgets about that one
Guess what didn't fail?
From the GM bailout to a world economic bailout.
He was wrong and we got scammed
Downsized two years ago. $400 yearly property tax. No mortgage! Small midwestern town and 1941 cottage home. Plaster walls a hassle but a Vibrant downtown business and positive people. Accidental move here and have been pleasantly impressed ever since with the outdoor adventures.
Great success story. Good luck!
How big is your outhouse? One or two-seater?
Where is this pls? I need to leave east coast for your town.
Your walking in tall cotton!
My parents are in their 80's, they're retired and have a limited income. They are losing their house because of the on going interest, taxes being raised, and high utility costs. I am disabled and on social security. I don't have any money to help them. Its such a shame. This should not happen in America.😢
So who should be forced to take care of your parents? Retirement isn’t a right.
@@RonBlauvelt-j7q 😢
@@RonBlauvelt-j7q Jesus said, "You did it unto the least of these, you did it unto me." Your reply comes across as cold hard hearted. Not everyone in their 80's is able to work. Some through years of work, their bodies are broken and old and can no longer work. Also age discrimination is very real and most employers do NOT want to hire someone that old, unless you want them to work at Wal Mart as a door greeter and those wages will not solve their problems. One day when you get old or too sick to work you will eat those words you typed.
What state are you in?
Your parents are supposed to be getting their retiree tax reduction. I am a disabled home owner and had to file for it because no-I could not cough up another $1,400 a year for taxes. For me, it is my damned insurance doubling while Medicare has gone up too.
in 94 after divorce i bought a house by the beach. got a 15 year which i paid weekly. made my last mortgage payment in august 2007👍🏼
Why do others find it so hard to own a house and make up fake excuses about how they cant afford it?
@@davidgray1515ok boomer👍
@@dmoneydmoney6050 - I bought my house in 1993 and paid it off in 12 years. Then, I had to buy the house again when I got divorced. No more marriages for me. Yeah, houses are more expensive but don’t blame boomers because you can’t buy a house. Look at the politicians that have been spending like drunken sailors and inflating the currency. Democrats are the worst but Republicans can’t balance a budget either.
@ inflation is part of the problem. i just bought a dozen eggs $5.79, three times what they were in 2019.
Homelessness is up 30%. i'm in a liberal run state which spends my tax dollars on illegals which have pored into the US and booted veterans out of affordable housing for illegal criminals causing rapes and murders to an all time high.
Well done,
Double payments on my 30 year,
Dropped to 64 payments, Done👍😎👌💯
$60,000 left on the house is all now and this crap starts happening!!! Beginning to hate my own country! The American Dream was and IS A LIE!
You have to be asleep to believe it- George Carlin
Use velocity banking to pay your house off faster, you need a line credit unsecured with a fixed rate.
The American 🇺🇸 Dream got SOLD at auction…..🪓💀 over and over and over and over….🥴💥🔥🔥🔥🔥🥸
C'mon man, you know the thing.
that is the worst because you still have to pay taxes the state owns your property it is commercial real estate real property defined as commercial commercial properties have to pay taxes the people of America have been kind they have been lied to.. is a lie they try to give you a little bit to make you be appeased while they steal everything else... if you have a 10 suiter.. and live in one of them you are tax exempt from the one this is exemption... but you live in your own home and you still have to pay taxes you run a business out of your home? the answer is no so why do you pay taxes... you are a tenant in your own home state owns your house the bank clearly provides rent... it was not a foreclosure it is an eviction.... you pay off the house they still take it for taxes... the American people have been lied to by their government they have just been destroyed by their government... even the Federal reserve Bank makes loans to the American people and takes the interest they get and loans the money to your enemy to buy weaponry and make war with you...
Blackrock is licking their lips
They better be careful or they will be hunted.
Mr. Schiff said the same thing about 3 years ago on one of his videos. "We never really fully and properly recovered from the GFC". Only a smoke and mirrors recovery.
Just look at what money velocity has done since then. It’s only getting worse.
He was waay late to the game...
@@bamahama707first time I ever heard someone say peter schiff was late not early lol
Yes that seems to be true. The GFC never fully worked itself but just papered over. The real issue never really resolved.
Private Equity is destroying the economy. We have MANY small machine shop buyouts last 2 years in Aerospace. It creates chaos.
PE has bought everything. I am not fully against it but the leveraged buyouts should be illegal.
You don’t know what you’re talking about. Those machine shops are not forced to sell. More often than not, owners, managers, employees are retained which is very important for PE firms.
I wouldn't be inclined to believe for a moment that the objectives and intentions of PE aquisitions have much of anything to do with the human capital or their prosperity. @@fastmph
Those PE businesses now run differently - that is the chaos he is talking about.
Thank you and thanks to Melody for great honest conversation .God bless you all
Thank You both! The corruption is Irreparable. The country is done.
I won't children and them to have a future I have to continue to believe, hope and even some prayer.
Melody🎶!!! We’ve missed you. So grateful for your ministry to dears one’s suffering the ravages of Helene and brutality of gov and FEMA AND politicians.
Agreed!!!
Their is no brutality in FEMA but their is in red states and magats trying to put restrictions on aid to California when the people in NC have been getting assistance and donations for almost 4 months
The top 10 to 20% got the bulk of the government bailouts. PPP loans, ERC loans, EIDL, This is Trillions of dollars that went to the top 20%. That's why people were spending thousands above MSRP on vehicles, and millions of people were suddenly traveling to Europe. That money was all borrowed, forever.
Real wages haven't gone up since the 1980s. Much of this is owing to executive extremism whereby the executives of a company take most of the profits for themselves and leave their workers only "cost of living" increases which never quite cover the increased cost of living.
Try 1972.
That’s not why
True, the executives have only got away with it because inflation was relatively low. Hyperinflation of food, rent, essentials, in the past three years, has completely exposed what they have been doing. And they still don’t want to increase wages.
This podcast offered a plethora of valuable information.
Melody, thank you SO MUCH for your analysis. You are a treasure.
When I listen to Dave Ramsey and his call-ins, I hear a lot of people making over $190,000 per year who are in deep debt. How is that possible???? When you use credit and never see cash leaving your hand, is one way to find yourself in debt. Our grandparents used wisdom with their money issues. They saved first to buy something and if they didn't have the money, they did without. Their wealth was in the family not in the pockets of the lenders. If you want it, but you can't afford it, you don't need it so don't buy it.
The problem is so many people start their adult lives in debt from school. Then they buy a car w/a payment, buy a house they are told they can afford(by the bank). Financial education is severely lacking in this country, which is believe is by design.
Lifestyle inflation. It can go quick between mortgage, car, student loans, and child care + a couple vacations per year.
@@adisc7475 Exactly. A mortgage is necessary due to needing a roof over our heads, but a new car is not, neither are student loans and certainly not vacations. A car's monthly expenses for purchase price averaged out; gas; oil; maintenance cost and replacements and insurance equals that of a monthly mortgage. How much time do you spend in your car as compared to your home? Then throw in the fact that people must save for their children's future education and/or the child should be working to make money for that education. No one in debt should take a vacation that requires gobs of cash to be spent or run up credit card debt. When people run a debt for a vacation, that vacation is really packaged entertainment like stupid Disney World and such.
Trust me the numbers of renters delinquent is much higher. I average over 10 late tenants per month that’s not reported.
Very eye opening data. Thanks for your continued time and due diligence on the market Travis and Melody!
Thank you Melody. You are the only person talking about people still kicking the can from 2006-2010 and i get looked at like im crazy when i talk about the unaddressed issues from the 'housing crisis ' of More than 18 years ago. Some people held onto those Arm's and continued paying also got some Creative methods of staying in those properties and now they are Cooked
I feel like times coming will be worse than the great depression and all done by design
By design and by the numbers.
Yes 🙌🏻
You see between the lies. Their agenda is to put all humanity under one set of religious laws. And none of the religions people are aware of. Then, add severe punishment for not adhering to those laws. They need chaos before they can impose those laws
Really appreciate your comments about wealth inequality. This is a major part of our economic woes
If there's no consequences for not paying your mortgage there will be more defaults. DUH! Why are no one willing to say this.
Common Sense ! But politicians have to get elected and the Rich need to get Richer.
Bubble just needs to burst already. Let's get it over and move on.
What will happen, specifically, when that bubble DOES burst?
What we're in is not sustainable and has only been propped up in recent years. The recession that was imminent a few years back that never materialized because the goal line kept getting moved farther away. There is only one way out. POP!!!
@@arizonaf2503I’m assuming you’re in AZ. I was born here and it sucks to see now that I am 27 ready to buy I can’t but if the houses that are $350k were $250k like they were before Covid then it would be a cake walk but nope
As long as the Politicians can borrow or put Trillions on our credit cards it won't happen, Their first priority is to get reelected.
@bamahama707 I try to rationalize what an everything bubble bursting looks Ike. Everything would go down except dollars and bonds and GIC's
But Insolvency would cause banks to lose deposits and bonds default.
So nothing preserves value except cash under the mattress. It doesn't make sense. The government will print. Cash money being the last store of value is laughable but letting the entire system deleverage would result in that.
They won't let it go that far
They will print and inflate away the debt. This is how it's been working for 110 years with intermittent "recessions" which is how the elite harvest the wealth of lower classes.
Multiple families living in one house is the future
Many coming from other countries have that advantage over the American People because they are use to such conditions or worse Were as most Americans are not .
100 years ago most families had three generations living in one house. We really only got spoiled in the 1950's and 60's. The 70's and 80's brought on new building booms and busts and the 2000's just got crazy, no money down, buy a house 10X over what you make, etc, etc.
In my country local governments would assign total strangers to live in your house if they decided your house was too big for you
Why have the prices of housing skyrocketed,the way it has ?? I mean the prices are making families homeless every single day. Its absolutely sickening.
AirBnB
It is the problem with fiat currencies. Printing currencies only causes the currencies to lose value which causes all prices to rise. Eliminating government and fiat currencies will cause prices not to rise.
Social Security (really vote buying to keep politicians in power. Inflation devalues the dollar, making it take more dollars to buy things over time. Inflation is caused by money printing and the money printing is done to make the national debt payable (higher tax revenues, devalued debt and lower interest rates). The debt is primarily due to the welfare state Ponzi scheme that's been active in the US for a century. End the Fed, end Social Security and make America livable again.
The gov/red reserve created/printed a lot of money during covi shutdowns. That stimulated the economy and a lot of people moved because they could work from home. Intrest rates were low and people got stimulus checks. The housing market inventory was squeezed and we encountered a supply and demand problem. These conditions drove the price of homes as well as everything else up.
rich people from all over the world buying multiple properties to live of the renters combined with inflation wich also makes the rich richer.
Why doesn’t anyone understand. The cost of living has increased dramatically. Everything increased, water,power, gas, food, auto insurance, homeowners insurance, property taxes. How can anyone survive unless you have 2 incomes or make $80k a year.
Still struggling at 85k
Hyperinflation - the media or government never use the word.
You guys are awesome! Thank you and God bless you both!
House in my neighborhood is nice and affordable. People rented it and after 2 years just quit paying rent. Owe big money in back rent. Landlord worked with them. But they refuse to get jobs and now are evicted.
How hard is it to evict tenants who haven’t paid rent?
(Seriously asking; I don’t know)
@@christiekaye5013 Depending on the state damn near impossible
@@christiekaye5013 it’s not hard at all but courts have backlogs and landlords would prefer for it to be a 24 hours process so any length of time is too long. I also question the “they refused to get a job” line in the original comment. Most people don’t just refuse to work.
People money was tight then insurance tripping, inflation, water doubled, electric doubled people are falling behind.
AI uses a lot of electricity which is driving up rates
Better figure it out pretty fast!
Groceries….. blah blah blah, it touched EVERYTHING! This is the wreckage of 4 years under a mass destruction plan!
They did it too!
@@mercurygirl6897 lol, if you think this was just because of the last 4 years then you're ignorant as hell. This issue started even before Covid, but as long as you have someone to blame it makes you feel better right? That's gonna pay the bills im sure. Just blame someone and it'll fix everything. Don't worry Trump will save you and make you rich like he said. Hold him to his promise. He promised costs will come down. Groceries, energy, and housing were all promised to be lowered. Hold your guy accountable just like you try to do with the other side.
Don't forget REITs and private equity competing with individual buyers, driving up prices of homes and driving down affordability.
IM GRATEFUL THAT WE BOUGHT OUR PLACE STRAIGHT UP AND NOW WE ARE TRYING TO RECOVER ! NO MORE MORTGAGE PAYMENTS! JUST HAVE TO WORRY ABOUT TAXES AND INSURANCE !
YAY Melody is back!!
Investors kept the bubble going. They work hand in hand with gov officials. Pricing out the general population
They have stopped making their mortgage payment in order to make their credit card payment…
So dumb. Always pay for the roof over your head first
Look around, you will see that Washington DC politicians are multimillionaire, with benefits sick, healthcare, vacation paid by your tax dollars. It surprising me that citizens do not correlate politicians getting rich and citizens becoming poor.
We're 🐑 n we'll never learn n they know that!
Our taxes fund their corruption
Melody Wright 👸Rocks🥇👏
Prison-planet economics working like a charm.
Bought my 3000sqft house in flyover land in December of 2019 when interest rates were at 6000 year lows. My mortgage is ~600 a month. The bank begs me every single month to refinance or take out some cash since the "value" of my house has doubled since then.
You lucky basta...
Melody is the best. Would love to see her on with Mitch.
Houston checking in; I appreciate learning and getting a heads up, ty. 🌸
Anybody who would prioritize buying Christmas gifts over paying their mortgage deserves no sympathy, but rather a sharp rebuke.
@@comment2250 Lol that’s probably 30% of Americans in my opinion
Christmas is such a brainwash - Jesus was NOT born in Dec. it's a pagan equinox celebration
This is gonna be much worse than the 29 Great Depression
Nah. The govt won’t let that happen. They will just pump trillions into the economy through bailouts and stimmy cheques to keep everything afloat (just like Trump did during covid)
With AI gutting the labor force: YES
People don't know how to farm or grow vegetables or know their neighbors like back then. The people now will turn to criminal behavior instead of helping a community.
I think IF the USA populace wakes up there will be a bloody Revolution but THATS a big IF!!!
Trumps a liar and he always was a Zionist …look at his cabinet w people like Peter Thiel behind them along w bilderberg … people don’t understand this!
@nicolejennings8389 I hope not 😮
Freddia Mac is shareholder owned. Government sponsored.
"On January 3, 1989, Freddie Mac stock was converted into a class of stock that could be owned and traded by all investors. (Prior to that date, ownership of the stock was limited by its terms to financial institutions and a small number of other parties.)"
I thought Obam privatized it?
Excellent report 👍👍👍👍👍👍👍👍😊🎉❤
We need ladies like this in government.
No. No we don’t. I feel women getting into the work force is part of the issues
@@thomashenshallhydraxis 🤣A joke, right?🤣🤣🤣
The fed is gone.
Lots of surprises to come to light in 2025…
Still following Q??? 😂😂😂😂
Melody is the best at deep dive info.
Much needed content. Thank you, both. Stay safe and keep warm.
Philadelphia suburb, homeowners insurance increased 400 this year, county taxes up 21%. WTF!
Govt corruption and grafting. Follow the trail. We went from volunteer to p/t paid fire department that is all political patronage… There budget and admin costs are out of control. They just now how to market themselves as they are all saviors and saints not union money grabbers from residents of a at best middle class town..
I know. My insurance in 2019 was $160, tax was $932. Now my insurance is $266, property tax is over $2,000! My home is only 624 square feet, zero risk. Not even a basement to flood. This country is toast.
Wait til they double or triple
City of bruadah lobes✊🏾✊🏾
Thanks, Travis! Thanks, Melody! God bless you both.
The problem is company’s are greedy and looking to AI to run their businesses and putting people out of work and then you have the city’s and county’s raising property taxes and people aren’t making more money very few are getting raises only those that work for companies that do government contracts which is tax payers money.
City and county citizens can put a stop to the tax increase by participating in local government. The elected officials will pay attention and comply accordingly. Just try it and you will see.
Maybe tax the robots
Thank you Travis & Melody! 👍🙏❣️
Melody is soooo on point!!!
We the people should not pay property taxes on anything anymore or any food tax anymore. You know it and I know it it's all by design.
Freezing property taxes or limiting the amount of increase sounds reasonable But politicians and a majority of voters will find away to subsidize housing, food ,daycare , medical, schools , dog parks ect. At your expense one way or another.
Your mom will pay for the local services.
I sat next to a gentleman at a doctor appointment who said he owned many rentals. Many of his renters stopped paying rent. He said the Seattle government would not stand behind his evictions. They protect the tenants.
Is this typical in all states? I guess the city doesn't want more homeless people 😕 The poor man was seeking a prescription for happy pills. He was STRESSED. 😢
@@bellakrinkle9381 not all markets based on what I been seeing mainly west coast and states and NYC
Interesting perpective. Thanks for sharing!!
mostly in democrat cities. Then they wonder why the rent is so expensive in those areas. I don't know why anybody would be a landlord in a city that's hostile to landlords, AND it's over priced and your better off selling and buying double the units in a red state. Yet landlords aren't doing that and it's bizarre.
It's consistent with Liberal Urban areas. From NYC and lived in Seattle 1999-2011
Me and my sisters plus grandkids may have to live together to get by. Ridiculous.
I know people who never recovered from 2008
Wallstreet came to save the real estate?
More like planned because now Wallstreet via equity companies who now dictate the high rent costs.
Great video! Thanks for going into depth about the housing market.
Shame on the American banking system. Some countries have 0 homelessness and no foreclosure on your only home.
Then move there
What country has zero homelessness ?
The inexorable grinding of the millstones of Increasing Property Taxes + Currency Inflation are crushing the American home owner or mortgage payer.
Not surprised they would lie to the public about this
The White House Misinformation Spokesperson !
If you own your property you shouldn’t be taxed on it, Abolish property taxes and Federal income taxes. Get rid of it ALL!!! Why are we paying the bill for everything in the world.
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
@@PatrickLloyd- This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
Finding financial advisors like SOPHIE LYNN CARRABUS who can assist you on things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.
Travis great work as ususal. Thanks for keeping folks ahead of this bonkers curve. Debt now being used for survival. Bad place for sure.
God Bless you and Melody and your families, you have 100% credibility.
I would remind everyone, in 2002 GWB was warning Fannie and Freddie. At the time Barney Frank was saying he was racist and didnt want POC or poor people to own homes. Like Travis, I bought in 2005, and finally walked away in 2017. However, I take accountability for knowing I really couldn't afford it. I also blame the appariser and broker pushing us into the schechy product.... not the fed. FF, to covid, and I now blame the government and fed for keeping me out of the market when I now CAN afford to buy with high credit score, because I refuse to buy into a bubble/downturn.
You mean the same bush who lied is into wars and spent $1 trillion to remove the taliban just to put them back in power? Lol, you mean the bush who cut taxes while having not one but two wars? Which no president before him never did. Lincoln raised taxes for the Civil war and even Johnson did for Vietnam. This guy exploded the deficit
Da, the cost of property taxes and fire insurance is forcing this situation across the nation.
Thank you for the info. Great site.
I sold my house to a mother/grandma and her live in chikdren/grand children. The fact that that's how they got out of renting is sad. I'm fine because I played a different game then they must have.
This entire situation is sad.
Bought my house using a fixed income, got out from under ever rising rent and into a very manageable mortgage which is almost 4 times LESS than our check, double homestead exemption, once we claimed it our prop taxes fell to $471 a year, Once we turn 65 prop tax halts for single people bringing in 25k and less, couples bringing in 30k and less. Military are prop tax exempt, Total mortgage payment is $456 a month and that's with a $50 per month overpayment. And we moved in ZERO money down NON VA. We aren't going anywhere.
I can understand why people go over the edge. Sad but True
You the man Trav!
Like 90% of the foreclosures could have been avoided if bankruptcy judges could have changed the terms. If the house was worth 1/2 what the mortgage was than the loan would be readjusted by the BR judge. Maybe any increase in value split 50 50 when house sold at a later time. Hindsight, no kids toys on the sidewalk and everybody made whole.
Not paying but they all think they are entitled to
shelter on someone else’s dime
Who are they?
Amazing credentials!!! TH-cam is a wonderful educational opportunity! Thank you!
Privatization always means huge profits to the new corporation, extremely high compensation to executives, and fewer benefits to those they are suppose to serve
WAGES HAVE BEEN BELOW THE COST OF SURVIVING SENSE THE INDUSTRIAL ERA BEGIN FOR SOME PERSONS.
Correct. Citizens were forced to live on debt when Nixon facilitated the agenda of private western banking industry, that wanted to recreate their oligarchy on a global scale. Nixon administration of republicans did all this for finance, which got completely deregulated through Congress and the Supreme Court. Now we have an oligarchy and a peasant class that is constantly struggling with debt, by design. Debt is how they get the wealth out of our country. Finance is lowering the standard of living in the United States through debt. They are transferring the wealth to a global 1%.
❤
Thank you for the update
The property taxes are definately crazy expensive; but the Homeowner's Insurance has skyrocketed and is going to continue to price people out of their homes. Especially for condo owner's who pay their insurance through monthly HOA. They have no option to self insure and liens are being slapped on these condos for owner's inability to pay double and soon tripling of HOA's due to property insurance. I hope and pray that one of the executive orders on DT's desk today, is going to cover that because if you miss 2 or 3 monthly HOA payments, you're done!
In my opinion this is all on purpose. If you can see it , imagine how much more clearly those whose main job is to manage this sick system can see as well as foresee the effects of these shenanigans…
years ago , back in the 60's , funds spent on houses was around 15% of your income. Somewhere around the 80's it went to around 35%. Then as time moved forward it moved up to around 50%.
Great discussion. The purchase price adjustment story reminds me of what I saw in the Wall Street Journal where it sounds like Wall Street is valuing the assets of some of these holders of lots of residential real estate at a 20% discount due to concerns if I understand correctly
Such in depth explanation for the mess we are in now. Keep sharing!
Yep, this retired electrician wont be buying another house. Next step is a van, ill travel and sleep in relatives yards etc. No property taxes or insurances from this older guy.
Real-estate goes in cycles of ups and downs, just like interest rates. Interest rate in 1982 was over 16%. To say interest rates of 7% is really high is to not understand history. In 2007-2009 houses dropped in value 33%. Moral. Things change and don't panic.
People are stuck with those loans even as their house values will decrease. It’s sad.
@@MissyM3 No argument, at issue is. Does the person need to have a place to live? If so, is the current location suitable and within budget? Selling when the market is down (any investment, car, house, stock market etc.) is ill advisable generally. Houses go up and down in value as do interest rates. If you need a place to stay and the house is under value, stay until the market corrects. The same can be said for a car, do "you" need transportation. To not make the payments because the car is worth less than paid for is counter productive. Student loans the same. Taking a loan and then complaining the job market won't pay for it is a personal problem. Just consideration for personal actions. Take responsibility and be patient.
average interest rates over the last 60 years 7% if they drop again then home and auto sales will tank, that should be the final nail in the coffin. low interest prices of homes and cars go up again.
An interest rate above 2% is now high due to the hyperinflation of property prices. 7% and 16% are so impossible now that it is laughable.
You always pay your shelter first
Good stuff today Travis and Melody. 👍
Think you have equity in your homes you can pull from? WRONG. You should see rejection numbers on Re-Financing applications . That number is staggering. Don’t be fooled and fall for Banking/lending marketing…
Equity is based solely upon how much you no longer OWE on your home. Uneducated buy a home, unaware that they will have zero equity for the first decade.
What are the numbers?
Banksters are not your friend, people
Wake up🤷🏿♂️😩🐀🐀🐀🐀
Correct! If you truly had access to All your equity you should be able to cash out and leave if need be!
high prices. high interest rates compared to prices. high payments. high insurance costs. high property taxes. high maintenance costs.
there is only so long we can play this game regardless of any data. as soon as people completely
exhaust the idea of holding the dam that is bursting at the seams back this will all become a flood zone. the only question is how long and how much pain people are willing to take. the issue is we have been going from one monetary crisis to the next for so long that people are used to the pain at this point. they have people fooled into believing we live in the sahara while there is an oasis around us. they build the mirage and until people can see the narrative is false they will continue to treat their homes like stocks and scarcity assets. anyone who owns property understands that homes are as much of a liability as they are assets. we need to get back to the idea that homes are utility and shelter first then a “nest egg” second. instead we have a market that is “number go up” and it’s being sold to people as there is nothing left and never will be so people go all in and say “well i guess i could pay 70% of my income and cut all my other costs to get this lucrative asset” and they end up house poor chasing the mirage that it’s basically a highly limited stock that “number only go up” and they fomo in. when all this stops and people wake up from the hysteria they have been under it is going to get very ugly. look at the insanity of the car market and how brutal it is now. same mindset that sent car prices soaring to 100k for some mediocre truck w 200$ screens in them and over engineered design that drives ur insurance up. now sellers are exhausted but in the moment the dealerships just like sellers and landlords act like p.o.s. trying to tell u “i know what i have” and act like they are holding gold bars. meanwhile dealerships now are begging for the customers they told “$20k over asking, take it or leave it, plenty of people just like you waiting to pay it.” and a lot of people got
suckered into buying because of the hysteria. homeowners and landlords will face the same fate, it’s just a matter of when. it’s going to be ugly and it will be because they brought it on themselves. greed knows no bounds.
In early 2020 I looked into getting a home equity loan because I needed a better, more reliable vehicle. I got turned down by most every bank because my debt to income ratio was already cutting things pretty close. So, I decided to tough it out and by the end of 2020 I had saved up enough to pay cash for another vehicle. Looking back on it, this was one of the best financial decisions I have made in recent years, because if I had gotten that home equity loan it would currently be just another sizeable monthly payment on top of everything else. On a side note, I believe the current state of the economy (with consumers trying to hold onto every penny) started in earnest in late 2023 and early 2024 when homeowers realized that their homes were no longer appreciating in value. So, for people who think the state of the residential housing market has little or no effect on the retail market, think again.
REM! Good morning all!🎉
No one has a right to live off someone else… not paying rent is theft. This is why rents went crazy after the moratorium, the next person is forced to pay from the theft of the last person
Agreed. We had a couple that did that to my spouse and I. We lost all of our savings while taking care of a child with Cystic Fibrosis. These people KNEW this and did it deliberately and even told us, "We are going to take everything you have." It was pure evil. The only way we got them out of the house they were squatting in, was I told them we had no more money to pay the mortgage and it would be just a matter of time before they would be evicted by the bank.
u mean buying multiple properties so u can live of the renters is theft? ok got it
Agreed. As a landlord of SFR’s I understand. That said I have always been reasonable and understands there are life events. That said the Govt has allowed reasonable to be replaced with not being responsible or culpable. (Maybe on both sides). The only ones that win on “regulation” scumbag lawyers and the fat a** crony government judges. Im old not believing marketing of such..
Stop renting SFH from landlords. Only rent multi family. Crush investors with lack of demand
What about the theft by lenders
People do not abandon you homes or your property, that is how they claim it back is through you all believing the lie and leaving what truly belongs to you. Sweat equity look it up please
You know the housing market is dumping if you see ANY foreclosure... anybody would be able to sell and break even if not
"Freedom to Fascism" by Aaron Russo The same man that made the movies The Rose and Trading Places. Want to see who really controls this world and how they do it then watch Freedom to Fascism.
Our Schools need to float bonds they'll never repay to print books like "When Harry Became Sally" and your property taxes will just have to pay for it all. Capiche'?
Remember when we were told the LOTTERY tx revenue would go to schools?❗️?
@@christiekaye5013 Indeed. It's called the Matrix of Mendacity. Now those very students are becoming indebted sports gambling addicts. The American pastime is Liar's Poker.
😂
Same in Florida
schools districts are a huge avenue of financial corruption!!!