New subscriber. Great info! However, people complain that the economy is so bad and inflation so high, but every time I pass by the mall it is packed!!
For us millennials and gen Z we will have to face the fact that the US we cannot afford a home and retire here. Its the reason I'm now looking overseas to buy property and build my own house. South America looks promising.
Yep, and South America as a whole is always subject to potential political strife and unrest. So, for a region of the world that's playing a delicate balancing act of being quasi democratic, quasi dictatorship, quasi socialist, quasi fascist, quasi communist, us in the know about the world outside of the United States, encourages you to take your happy azz, and your money to South America and make a fool's investment. And please, once you cross the border.....Don't come back to the US; let Canada be your "Escape from South America" new home.
@@thespadestable What's your problem? You don't think the US has problems. Lets talk about all the mass shootings, US healthcare that is a big fat joke, let talk about food that is full of poison from all the additives and preservatives. Healthcare is damn high in the US that people cross the border to Mexico and get treatment. During the Trump administration we had ton of civil unrest. So don't act like the US is perfect. Lot of people are leaving the US because its become to damn expensive. Its either I rent for ever and risk being homeless due increasing rents or move to a place that is far cheaper where I can afford it. I will take the moving overseas option. America is a money focus country where everything is about profit, even women in the states will only date men with certain income bracket. No thanks, I will not miss anything from a toxic environment.
@@eliot5220 - It's not that easy to say. People view a home as a step up from renting, so most don't want to but that is equal to, or less than, what they could be renting. Also, you have to look at neighborhoods. If the grew up in the Hood with police sirens, gun shots, and seeing people hanging out on the corners notably dealing drugs, the last thing they want to do is buy a home "within their price range" and live in that same area. It's obvious you have a channel for the sake of talking just for the sake of talking and feeling like a somebody if you're making the statement you just posted.
@@eliot5220 The median US salary is $59,384 in 2023 and the median US home price is $393,500 which is nearly 7x the annual salary. Interest rates are high and you have lot of private equity firms buying up homes by outbidding the average folks. you can a buy a fixer upper but are you really saving? Not really after you add up the cost of hiring contractors and buying materials. Things are just too high and fewer people will be able to own homes but only rent them for their rest of their lives. The other options is moving overseas to a place where US dollars can stretch farther.
The market is meant to discourage new families, young people, and college graduates from purchasing houses. There is a trend of corporate American companies investing in SINGLE FAMILY HOMES to RENT to people who would normally qualify to own these homes except for the markets (which are run by investors) refuses to adjust to accommodate this group of rightful candidates! People are struggling because the same entity that is causing record layoffs, inflated prices, and the tightening of available credit for AMERICANS are also the same folks buying these homes! Corporate greed has made it so that you must be a corporation to own the American dream! Greedy!
I agree, The only buyers I see here in San Diego are investment groups / developers turning single family homes in established neighborhoods into multi rental dwellings changing the character of what use to be nice neighborhoods.
I needed 200 dollars more a month. I asked my boss for a pay raised, and she said no. So I got me another job it's 40 hours min wage. I bring home extra 2k. I wish I dint have to work so much but I am not check to check. Now I am saving and stacking. Waiting for an opportunity to go from negative to a positive.
Thank you for sharing your story. I’m sorry that things are tough for you right now. Keep working hard and eventually your time will come. Keep your head up and be encouraged.
It’s a savage world now that we are wasting our taxes on useless forever wars. But you can keep your head high brother. Nothing better than being financially free keep working hard and don’t buy useless things to look cool. The richest people I know look broke
@@toulee3551Cutting interest rates would be a big Mistake Low interest rates causes inflation it's to bad they didn't understand this before now. It doesn't make sense to Pay One Hundred Percent more for something just to get a Low interest rate and make a higher Payment for the Thing you buy.
Correct. And everyone is continually obsessed with those clowns, as if dropping rates is gonna wipe away your troubles. In fact, the low rates are what fucked up everything to begin with. A total distortion of market values.
Most people are spending too much. The problem is people don’t really know how to measure affordability. If you ask a person that makes $100,000 they want and think they can afford a $400,000 house. So try buying a house for 1-2x income or less. I tried that and it was tough. But now I have a house with no mortgage. People need to adjust their measurement of affordability. Buy a cheap house and remodel it. That’s the best way to do it.
Smartest answer I've come across. I've seen people buying houses 🏘️ for years now and ain't no problems when ish is sweet. However, what I also see is people living well beyond their means, and personal greed. Fomo, bidding, wars etc has also been an Achilles heel to most because they want what they want at any cost.
"double up on jobs and ideally only buy assets", within a long-term investment strategy Marriage and babies with someone similar No debt. Only buy what's affordable. Aspire to live off long-term capital gains, zero federal taxes ❤
They do that the game. Get them to buy high. As they take on all the lost and have to sell on pennies on the dollar. The same with the stock market. They make money on all sides of it thanks to montage insurance.
Buy less than you qualify for. LEARN TO WORK ON THINGS. If your entertainment does not make you more capable or save you money it's a waste of time. Learning to DIY let me and millions of others buy cheap old homes then fix them inexpensively. Anyone can do this since my wife did most of the interior renovations while I worked. A home is part of a life package. Do not buy vehicles for any reason other than reliable efficient transportation until your home is paid off. I practice what I preach (not hard) and retired young by not copying trifling people (which are most of them). Learn to inspect homes YOURSELF. You have nothing more important to do in life than improve that life and every such skill pays off large. No one cares about YOUR money more than YOU do.
Taxes are killing us along high food,rent,mortgage, car,insurance its about time to stop paying for the unnecessary, I guess. If they cut rates, they were going into a depression if not already there.
Ppl need to buy off grid unrestricted rural recreational LAND and live in PRIVATE like the AMISH... U only get taxed on benefits and privileges... that's why PPL with jobs and buy groceries out their stores instead of growing their own groceries get taxed MORE than PPL with their own businesses and LAND... AMISH the only ones who got it right. Just wait till PPL start losing jobs to A I and Robotics and they NEVER worked on their own businesses and they have rent and 30yr high ass mortgages to pay and no food that they've been growing for their families and themselves. BUY LAND CHEAP LOW DOWN NO CREDIT... CHECK ME OUT TOO ‼️
Oh look outside your own borders. The US is one of the only developed country that has interest rates fixed for term of the loan. Yet you still complain - try being on variable. But you know, it's Americans, so you still whinge the loudest 🤦♀️
My apartment complex is starting to give one month free 2nd half off and lowered rend for those who renew also for the past few months well about 7 now I haven’t been struggling on parking it’s nice … largo fl 😐 stay away keep rent down there’s no jobs here to pay for the housing here or higher rents
A lot of stats and repeating. BLUF - Bottom Line Up Front.... Only get what you can actually afford, pay down high interest rate loans (credit cards) first, refi into a lower fixed rate, pay a bit extra on mortgage principle, live below your means, take advantage of incentives (HUD, VA, Etc.), learn what the S&P 500 is, quit purchasing crazy stuff (expensive brand name clothing, expensive vehicles, trying to keep up with the neighbors or impress someone), and set priorities and goals, stick with it!!! Don't let you 20's lead to excessive struggle and regret in your 40's. I learned the hard way, so here is my advice.
I’m a millennial I bought in 2011. 5br, 3.5 ba at $174,500. 3.5% down at 4.75%. My mortgage was $1256. I modified in 2020 to a 2.86% golden cuff. No PMI, brought house payment to over $400 less. My son now 20 wants to buy a duplex for them to pay his mortgage. But my property tax went up to $401,900. I was 38 hot. My lender said I needed to pay 💰 $425 before March or my payments would go up $36 a month. I paid the money. It made my mortgage $6 cheaper. This a mess out here. I’m a divorced mother of 3. I bought it myself before I got married. I don’t see how y’all get by.😢
If you buy around 2016 to 2021 in Arizona you will be fine both of my mortgage still cheaper then renting April 2024 i still find another deal 6 % towards closing 2/1 buy down 2.7 first year and 3.7 2nd year and 4.99 3 year and lock in that interest rate you bave to be patient and find the deal
It suck’s when rent is already more than 30 percent of your income.. buying a house is literally the same price or very close to renting a home now every month..
@user-ms3ko5gn8e oh relax...depending on where you live determines that. It definitely doesn't go up every year nor by much money. I can tell you aren't a home owner.
Yup, I'm living proof. Living in Florida, skipping meals 1 day a week. Skipping doctor/dentist appointments. Living in a room of one of my best buddies. I hope it gets better but it will be a long slog.
Never had so much credit card bills that I could not afford to pay when I lived in Florida, now living in New York with more cash flow and less credit card bills
If you, or anyone you know, tried to flip real estate or raise the price of real estate or raise the price of a car to sell it or did Airbnb or any of those things or raise the rates at your businesses in the last three or four years, it is you that is the problem
So was any preaching reasonable and level headed thinking, when buyers were helping to create this COVID and post COVID buying frenzy. I don't think they were. It was more like, see a target, any target, pull the trigger to purchase,no matter what the cost or conditions, which made the process a complete nightmare.
I was taught in my Real Estate Finance class in college, that before you purchase a two story home, take your fattest friend and have them walk around to see if the house was made well. My professor was very fat, so I think he knew what he was talking about. He also had a J.D. degree and I now have one too...unfortunately, I am fat now too!! 🤭
Is there such a thing as "black real estate" or is there just real estate? There IS such a thing as black realtors but that emphasis is on the realtor not the real estate itself. What exactly is "black real estate" if there is such a thing? Because real estate that is for sale can be sold by anyone of any race at anytime who is a realtor and it does not matter who does. This is probably NOT going to be a very popular comment it is a thing of pride for people of color who sale real estate that is FINE within itself but real estate has no particular color or race attached to it and it does not matter if the real estate agent is a person of color, Caucasian, Asian, European or Australian at any given time real estate does not care about who the agent is what matters is does the agent have the skills to sell properties and make money in thier area because if they DON'T another agent of any particular different color or race whi CAN get that property sold and get the commission is going to come along and do it.
One way to solve this is to make more money!!! There are 168 hrs in a week… if you can’t make end meet and don’t work at least 80hrs stop bitchin and start the mission
you can get under contract sight unseen to take the property off the market. the due diligence period will protect you if the contract is written that way .
You need to put a camera on the people and see what they see and tell them what to do cause they won't be able to handle what is being asked of them any other way
I think if the housing market crashes it will be because of these ppl who FOMO’ed with these high interest rates. Certain areas are now experiencing high inventory and price cuts. All the while ppl are still buying just adding more. The minute the values drops and they are under water will leave them very few options.
If someone or a household can’t get as close to that as possible, I would be very careful. Paying too much for a mortgage can financially cripple people. It happens everyday. Everyone’s situation is different though. I just suggest being very careful.
I hear you. I’m sure it’s a mix of folks being misguided and for some just ignoring the fact that they are taking on a payment that’s not feasible. It’s sad all around.
Our home is in a reasonably decent part of Brooklyn, NY and the homeowners are predominantly African America and even though homes in this area are more attractive, have more square footage, not too far from transportation and shopping malls, etc......realtors try to lower the price by 10 to 20% less than predominantly white neighborhoods. Sadly, prejudice is still alive 😭
Wrong. Houses are priced by value and location. If no one wants to live there, the prices are lower. Your color has zero to do with pricing. That’s a cop out and the r card is so tired. Do better and quit using g it as an excuse for anything and everything.
@@dcg590 I hear you but the block association has gathered to see which realtors have tried to lower the prices in our community. I love people from ALL RACES but prejudice still exists. They are considering a law suit (if they can collectively get an attorney to take the case).
Why? They have a business, they provide a service so many people need. Do you think you deserve free housing? You don’t. I say tenants are the worst. Entitled, rude and ungrateful. Don’t like paying rent, buy a house. Then let some people live in it for free while you pay all the costs and see how you like it. After you worked so hard to obtain that property, they just give you a hard time, call you names, expects a ‘break’ on rent. Foh
the root cause of all this: Zoning. Since zoning first took root in the early twentieth century, it has invariably been used to enforce and perpetuate a uniquely American form of apartheid, shrouded in a fog of planning jargon and obtuse codes. While you will find no mention of race or class in your contemporary local zoning ordinances, the open pursuit of American apartheid forms the basis of many zoning codes still in effect today. Yes, the courts clamped down on de jure racial zoning in 1917, but court approval of economic zoning in 1926 would pave the way for de facto racial segregation. Cities were quick to bring in renowned zoning framers who could provide legal cover for the same old exclusionary zoning codes.
millenials, the 2nd largest generation cant afford to buy a home, my gen z kid cant afford a single wide mobile home. clayton homes now wants $50k for a 860 sq ft mobile home.....man bye
Oh just keep voting blue and it’ll get worse, I mean that’s what the blue voters wanted right? You don’t love $500k starter homes, $6 gas, eggs and butter? No one cares about the whining if you voted blue, if you vote red I’m sorry and make your presence felt this year and for years to come, federally and more importantly locally.
You will miss out. Now is a great time to buy a home. Renting forever is a scary proposition that you will haunt you forever and prices have never went down. Dave Ramsey showed even in 2008 prices did not come down
Prices went down in 2008, I know because my home was under water and I was able to refinance under HARP from 6.5% purchased in 2005 to 3.65% in 2013! My home value just recovered because of the pandemic. BTW, I live an hour north of NYC!
@@kat-oe7gb - Prices went down or stayed stable due to the housing market crash and the shakeup of the economy. A score of people lost their jobs and had to sell in order to downsize or relocate. Builders had finished homes on the books they had to sell off, because even they were looking at going out of business. In 2009 while living in Raleigh, NC, there was several builders desperate to offload their homes, they offered potential home buyers a chance to lightly live in the desired homes for up to 2 weeks to get a feel for the neighborhood and the home itself with a contract that had to be signed and rules adhered to. The Raliegh/Durham area experienced builders attempting short term rent to buy programs all for the sake of clearing out their books, even if it was only temporary, with many eventually getting burnt by contract holders who couldn't afford to stay on till the end of the rental contract, which eventually put the homes back onto the books of the builders, and still a shrunken buyer's pool. Apartment rentals actually dipped a bit, or the prices stayed stable for established tenants as a means of stalling mass exoduses due to the downturn of the economy. But as things rolled into the 2010's, and the market was said to had stabilized or improved, the prices began to creep back up. Lastly, refinancing is not the cure-all that people make it out to be. First off, doing a refinancing is not free, there is a cost involved to complete the process. And for the lenders who offer "free" refinancing, all they did was apply what's owed into the loan. Also, the terms of the loan are now extended. Though doing a refinancing might put some money back into the household budget, that household now has to undo many of its poor money management habits and decision makings, not over the course of a few months or years, but for the lifetime of that homeownership, because as we've seen with this inflation, goods and services prices will go up, meaning that extra money saved via the refinancing, now has to cover the increase in cost. Responsible Adult Math 101.
Dont listen to this guy, if youre comfortable with mortgage payment then go ahead. My cousin bought in 2021 for 930k in S. Califormia, now worth 1.4M!!
@@blackrealestatedialogue No they didn’t because people don’t really listen no more, they heard but they don’t really absorb what their hearing. That why they are called by their leaders the dumb masses. If you work with the public you will quickly realize how dumb people really are and only hear what they want to hear.
New subscriber. Great info! However, people complain that the economy is so bad and inflation so high, but every time I pass by the mall it is packed!!
My landlord threw Us out in 2016… After 11yrs of Rent. I refused to have it happen Again & bought. My payment hasn’t increased in 8yrs?!!!
You made the right move!
Same thing happened to me in 2021....it ended up being a huge blessing.
your payment always increase lol, property taxes /insurance go up
Throwing away money for 11 yrs
Your property taxes and insurance hasn't gone up?
For us millennials and gen Z we will have to face the fact that the US we cannot afford a home and retire here. Its the reason I'm now looking overseas to buy property and build my own house. South America looks promising.
Yep, and South America as a whole is always subject to potential political strife and unrest. So, for a region of the world that's playing a delicate balancing act of being quasi democratic, quasi dictatorship, quasi socialist, quasi fascist, quasi communist, us in the know about the world outside of the United States, encourages you to take your happy azz, and your money to South America and make a fool's investment. And please, once you cross the border.....Don't come back to the US; let Canada be your "Escape from South America" new home.
@@thespadestable What's your problem? You don't think the US has problems. Lets talk about all the mass shootings, US healthcare that is a big fat joke, let talk about food that is full of poison from all the additives and preservatives. Healthcare is damn high in the US that people cross the border to Mexico and get treatment. During the Trump administration we had ton of civil unrest. So don't act like the US is perfect. Lot of people are leaving the US because its become to damn expensive. Its either I rent for ever and risk being homeless due increasing rents or move to a place that is far cheaper where I can afford it. I will take the moving overseas option. America is a money focus country where everything is about profit, even women in the states will only date men with certain income bracket. No thanks, I will not miss anything from a toxic environment.
I don’t understand why people say that. You can buy a house that’s within your price range.
@@eliot5220 -
It's not that easy to say. People view a home as a step up from renting, so most don't want to but that is equal to, or less than, what they could be renting. Also, you have to look at neighborhoods. If the grew up in the Hood with police sirens, gun shots, and seeing people hanging out on the corners notably dealing drugs, the last thing they want to do is buy a home "within their price range" and live in that same area.
It's obvious you have a channel for the sake of talking just for the sake of talking and feeling like a somebody if you're making the statement you just posted.
@@eliot5220 The median US salary is $59,384 in 2023 and the median US home price is $393,500 which is nearly 7x the annual salary. Interest rates are high and you have lot of private equity firms buying up homes by outbidding the average folks. you can a buy a fixer upper but are you really saving? Not really after you add up the cost of hiring contractors and buying materials. Things are just too high and fewer people will be able to own homes but only rent them for their rest of their lives. The other options is moving overseas to a place where US dollars can stretch farther.
Thank God we are able to build our own home without a bank! Takes alot of work, but the sweat equity is enormous
That’s awesome where at?
@@blackrealestatedialogue louisburg NC at lake royale
The market is meant to discourage new families, young people, and college graduates from purchasing houses. There is a trend of corporate American companies investing in SINGLE FAMILY HOMES to RENT to people who would normally qualify to own these homes except for the markets (which are run by investors) refuses to adjust to accommodate this group of rightful candidates! People are struggling because the same entity that is causing record layoffs, inflated prices, and the tightening of available credit for AMERICANS are also the same folks buying these homes! Corporate greed has made it so that you must be a corporation to own the American dream! Greedy!
Thank you for sharing. We are truly in troubling times
I agree, The only buyers I see here in San Diego are investment groups / developers turning single family homes in established neighborhoods into multi rental dwellings changing the character of what use to be nice neighborhoods.
Basically Feudalism
Yep! That's it. They buying up inventory. Fed needs to increase the IR, force them out, flood the market with inventory and the prices will drop.
Great point! Jeff Bezos and his buddies are doing this.
I needed 200 dollars more a month. I asked my boss for a pay raised, and she said no. So I got me another job it's 40 hours min wage. I bring home extra 2k. I wish I dint have to work so much but I am not check to check. Now I am saving and stacking. Waiting for an opportunity to go from negative to a positive.
Thank you for sharing your story. I’m sorry that things are tough for you right now. Keep working hard and eventually your time will come. Keep your head up and be encouraged.
These jobs don’t care about us. I retired for good at 55.
It’s a savage world now that we are wasting our taxes on useless forever wars.
But you can keep your head high brother. Nothing better than being financially free keep working hard and don’t buy useless things to look cool.
The richest people I know look broke
Sounds good but if you vote blue then it won’t matter so pick wisely in November or else you’ll be living the hunger games.
You should start a side business instead of working another job
I don't think the Fed will be cutting rates this year by any meaningful amount.
Me neither and for many, especially those on big cities it won’t matter because the home prices are too expensive
If they do cut, it will be like .25 for the election
@@toulee3551Cutting interest rates would be a big Mistake Low interest rates causes inflation it's to bad they didn't understand this before now.
It doesn't make sense to Pay One Hundred Percent more for something just to get a Low interest rate and make a higher Payment for the Thing you buy.
@@toulee3551 100%
Correct. And everyone is continually obsessed with those clowns, as if dropping rates is gonna wipe away your troubles. In fact, the low rates are what fucked up everything to begin with. A total distortion of market values.
Most people are spending too much. The problem is people don’t really know how to measure affordability. If you ask a person that makes $100,000 they want and think they can afford a $400,000 house. So try buying a house for 1-2x income or less. I tried that and it was tough. But now I have a house with no mortgage. People need to adjust their measurement of affordability. Buy a cheap house and remodel it. That’s the best way to do it.
Smartest answer I've come across. I've seen people buying houses 🏘️ for years now and ain't no problems when ish is sweet. However, what I also see is people living well beyond their means, and personal greed. Fomo, bidding, wars etc has also been an Achilles heel to most because they want what they want at any cost.
"double up on jobs and ideally only buy assets", within a long-term investment strategy
Marriage and babies with someone similar
No debt. Only buy what's affordable.
Aspire to live off long-term capital gains, zero federal taxes ❤
“Net Income” hit different than “Gross Income”!!!!😌😌😌😌
It really bothers me that the advice out there focuses so much on gross. It’s almost as if they want folks to get in over their heads.
They do that the game. Get them to buy high. As they take on all the lost and have to sell on pennies on the dollar. The same with the stock market. They make money on all sides of it thanks to montage insurance.
Low inventory is a false narrative in Florida & Texas YTD & month over month!!!!
It’s so interesting how it’s so different depending on city/state!
Sw Fl has 8 months of inventory right now
Buy less than you qualify for. LEARN TO WORK ON THINGS. If your entertainment does not make you more capable or save you money it's a waste of time.
Learning to DIY let me and millions of others buy cheap old homes then fix them inexpensively. Anyone can do this since my wife did most of the interior renovations while I worked. A home is part of a life package. Do not buy vehicles for any reason other than reliable efficient transportation until your home is paid off.
I practice what I preach (not hard) and retired young by not copying trifling people (which are most of them). Learn to inspect homes YOURSELF. You have nothing more important to do in life than improve that life and every such skill pays off large. No one cares about YOUR money more than YOU do.
Taxes are killing us along high food,rent,mortgage, car,insurance its about time to stop paying for the unnecessary, I guess. If they cut rates, they were going into a depression if not already there.
That’s not doing anything to us, voting blue is what’s doing it. It’s been doing it since Woodrow Wilson.
And the politicians don't care about no one but themselves! People cannot pay what they don't have.
😢😢😢
The blue side doesn’t care because this is what you asked for if you voted blue.
I told the irs good luck trying to tax me because I'm technically homeless and I don't own anything but gold that I buried.
😅😅
Im turning my truck into a snack truck.Im not gonna wait for an employer to give me a job or thr gov to give me a hand out 😂
Ppl need to buy off grid unrestricted rural recreational LAND and live in PRIVATE like the AMISH... U only get taxed on benefits and privileges... that's why PPL with jobs and buy groceries out their stores instead of growing their own groceries get taxed MORE than PPL with their own businesses and LAND... AMISH the only ones who got it right.
Just wait till PPL start losing jobs to A I and Robotics and they NEVER worked on their own businesses and they have rent and 30yr high ass mortgages to pay and no food that they've been growing for their families and themselves.
BUY LAND CHEAP LOW DOWN NO CREDIT... CHECK ME OUT TOO ‼️
Oh look outside your own borders. The US is one of the only developed country that has interest rates fixed for term of the loan. Yet you still complain - try being on variable. But you know, it's Americans, so you still whinge the loudest 🤦♀️
Yes, I know for a fact that in Canada, my family has gotten a new interest rate every few years, and they wish they had the option of a 30-year fixed!
My apartment complex is starting to give one month free 2nd half off and lowered rend for those who renew also for the past few months well about 7 now I haven’t been struggling on parking it’s nice … largo fl 😐 stay away keep rent down there’s no jobs here to pay for the housing here or higher rents
My dude, just found your channel and Its awesome. Keep it up.
I really appreciate your support and kind words. Thanks for much!
A lot of stats and repeating. BLUF - Bottom Line Up Front.... Only get what you can actually afford, pay down high interest rate loans (credit cards) first, refi into a lower fixed rate, pay a bit extra on mortgage principle, live below your means, take advantage of incentives (HUD, VA, Etc.), learn what the S&P 500 is, quit purchasing crazy stuff (expensive brand name clothing, expensive vehicles, trying to keep up with the neighbors or impress someone), and set priorities and goals, stick with it!!! Don't let you 20's lead to excessive struggle and regret in your 40's. I learned the hard way, so here is my advice.
I’m a millennial I bought in 2011. 5br, 3.5 ba at $174,500. 3.5% down at 4.75%. My mortgage was $1256. I modified in 2020 to a 2.86% golden cuff. No PMI, brought house payment to over $400 less. My son now 20 wants to buy a duplex for them to pay his mortgage.
But my property tax went up to $401,900. I was 38 hot. My lender said I needed to pay 💰 $425 before March or my payments would go up $36 a month. I paid the money. It made my mortgage $6 cheaper. This a mess out here. I’m a divorced mother of 3. I bought it myself before I got married. I don’t see how y’all get by.😢
Well if you keep on voting blue it’ll get worse than this current mess we’re in
If you buy around 2016 to 2021 in Arizona you will be fine both of my mortgage still cheaper then renting April 2024 i still find another deal 6 % towards closing 2/1 buy down 2.7 first year and 3.7 2nd year and 4.99 3 year and lock in that interest rate you bave to be patient and find the deal
It suck’s when rent is already more than 30 percent of your income.. buying a house is literally the same price or very close to renting a home now every month..
Until your roof leaks or your central air goes out. Add 5-10k to your yearly budget unless you’re buying a new construction house.
AND PROPERTY TAXES AND INSURANCE ALWAYS GO UP!
@@user-ms3ko5gn8e everytime that goes up they raise the rent due to it. I believe that’s why rent went up to begin with.
@user-ms3ko5gn8e oh relax...depending on where you live determines that. It definitely doesn't go up every year nor by much money. I can tell you aren't a home owner.
@@tamarastone141 Actually yes, I am a home owner & it has gone up the last 9 years that I've been in my home.
Yup, I'm living proof. Living in Florida, skipping meals 1 day a week. Skipping doctor/dentist appointments. Living in a room of one of my best buddies. I hope it gets better but it will be a long slog.
I am very sorry to hear this. I hope your situation turns around. Be encouraged and don’t give up 🙏🏾
@@blackrealestatedialogue I'm going to fight and fight every day!
Never had so much credit card bills that I could not afford to pay when I lived in Florida, now living in New York with more cash flow and less credit card bills
@@dreamer6508NY is cheaper than Florida??
@@tonylevine2716depends where in new York. People automatically think New York City 🏙️ when they say new York.
Go retired overseas, not in America. America is doom. China #1 soon.
I expect things to get worse regarding the housing market, unemployment, credit card debt, etc...we need to prepare.
We need to vote red for at least 16 years to fix this Bs.
Great tips, it’s easy to be pressured by real estate agents saying you can refinance next year or having FOMO. But one cannot rush this process
Thanks so much. Def can’t rush!
If you, or anyone you know, tried to flip real estate or raise the price of real estate or raise the price of a car to sell it or did Airbnb or any of those things or raise the rates at your businesses in the last three or four years, it is you that is the problem
Thanks for the comment 👍🏾
Nope if you voted blue then you’re the problem.
So was any preaching reasonable and level headed thinking, when buyers were helping to create this COVID and post COVID buying frenzy. I don't think they were. It was more like, see a target, any target, pull the trigger to purchase,no matter what the cost or conditions, which made the process a complete nightmare.
I was taught in my Real Estate Finance class in college, that before you purchase a two story home, take your fattest friend and have them walk around to see if the house was made well. My professor was very fat, so I think he knew what he was talking about. He also had a J.D. degree and I now have one too...unfortunately, I am fat now too!! 🤭
Wt??? 😂😂😂
You keep your books organized like I do. I might actually watch you for awhile.
Title search. Scammers are busy.
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Interest rates drop and I’m promise no prices will drop
They will go through the roof!
You are right. Sadly, that's the plan of corporate America.
If you vote blue you won’t have to worry about anything you’ll be living hunger games with another 4 years of this.
Good video. Excellent advice. Thank you.
Thanks for your support! Glad you enjoyed
Is there such a thing as "black real estate" or is there just real estate?
There IS such a thing as black realtors but that emphasis is on the realtor not the real estate itself.
What exactly is "black real estate" if there is such a thing? Because real estate that is for sale can be sold by anyone of any race at anytime who is a realtor and it does not matter who does.
This is probably NOT going to be a very popular comment it is a thing of pride for people of color who sale real estate that is FINE within itself but real estate has no particular color or race attached to it and it does not matter if the real estate agent is a person of color, Caucasian, Asian, European or Australian at any given time real estate does not care about who the agent is what matters is does the agent have the skills to sell properties and make money in thier area because if they DON'T another agent of any particular different color or race whi CAN get that property sold and get the commission is going to come along and do it.
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Agree
All thanks to Joe Biden & Kamila Harris---Just imagine what will happen in 4 years if they get re elected .
´Dipping into skipping meals´
I don't want to be house rich! That is truly not the American dream. Please Don't do it
House rich cash poor sounds like the American nightmare!
Thanks, Joe. 🤬🤡
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One way to solve this is to make more money!!!
There are 168 hrs in a week… if you can’t make end meet and don’t work at least 80hrs stop bitchin and start the mission
That’s one way to look at it
you can get under contract sight unseen to take the property off the market. the due diligence period will protect you if the contract is written that way .
Excellent point
Joe Biden said just deal with it
You need to put a camera on the people and see what they see and tell them what to do cause they won't be able to handle what is being asked of them any other way
Blame the corrupt thieves in DC for the gauging food cost, gas price, mortgage, rent, car home insurance, property taxes, unemployment.
Nope just blame the blue team, they’ve been doing it to us since Woodrow Wilson.
I think if the housing market crashes it will be because of these ppl who FOMO’ed with these high interest rates. Certain areas are now experiencing high inventory and price cuts. All the while ppl are still buying just adding more. The minute the values drops and they are under water will leave them very few options.
Why is a private company in charge of setting the interest rates is what I'd like to know?
Great content. Do you know anyone with an allodial title? I want to buy a property this year
Thanks! Unfortunately I don’t
Build Back Better
Revolt anyone?
30 percent how, you seen those house prices
If someone or a household can’t get as close to that as possible, I would be very careful. Paying too much for a mortgage can financially cripple people. It happens everyday. Everyone’s situation is different though. I just suggest being very careful.
Thanks 🙏🏽
You’re welcome 😊
Hi do you know how to do a subject to property? or do you know someone who can do this?
You can fix many things in this world, but you can never fix stupid, I don’t feel sorry for any of them
I hear you. I’m sure it’s a mix of folks being misguided and for some just ignoring the fact that they are taking on a payment that’s not feasible. It’s sad all around.
Me either
Our home is in a reasonably decent part of Brooklyn, NY and the homeowners are predominantly African America and even though homes in this area are more attractive, have more square footage, not too far from transportation and shopping malls, etc......realtors try to lower the price by 10 to 20% less than predominantly white neighborhoods. Sadly, prejudice is still alive 😭
Wrong. Houses are priced by value and location. If no one wants to live there, the prices are lower. Your color has zero to do with pricing. That’s a cop out and the r card is so tired. Do better and quit using g it as an excuse for anything and everything.
Them they’ll turn around and sell it for a crazy price to someone else. It’s wild out here
@@dcg590 I hear you but the block association has gathered to see which realtors have tried to lower the prices in our community. I love people from ALL RACES but prejudice still exists. They are considering a law suit (if they can collectively get an attorney to take the case).
@@blackrealestatedialogue You are spot on 💯
@@kellynorvell5714 Yep, folks can act like this isn't a real issue if they want lol. We know what's going on it's nothing new.
Control your hands
?
Whos Escro is going up?😊
Many folks lol
Print money 😜
Devil is cackling!
Great info in this video. Thanx
Glad it was helpful!
Landlords are the worst
Why? They have a business, they provide a service so many people need. Do you think you deserve free housing? You don’t. I say tenants are the worst. Entitled, rude and ungrateful. Don’t like paying rent, buy a house. Then let some people live in it for free while you pay all the costs and see how you like it. After you worked so hard to obtain that property, they just give you a hard time, call you names, expects a ‘break’ on rent. Foh
Do you expect rent to be free?
It’s sad that folks don’t understand it’s a business that comes with risk and expenses.
I’m a good landlord so not true in all cases. I’ve also had houses that tenants destroyed even though I was good to them. I see both sides.
the root cause of all this: Zoning. Since zoning first took root in the early twentieth century, it has invariably been used to enforce and perpetuate a uniquely American form of apartheid, shrouded in a fog of planning jargon and obtuse codes. While you will find no mention of race or class in your contemporary local zoning ordinances, the open pursuit of American apartheid forms the basis of many zoning codes still in effect today. Yes, the courts clamped down on de jure racial zoning in 1917, but court approval of economic zoning in 1926 would pave the way for de facto racial segregation. Cities were quick to bring in renowned zoning framers who could provide legal cover for the same old exclusionary zoning codes.
People need to stop spreading the rumor that private equity is lobbying for property tax and home insurance increases. Companies are not buying homes.
millenials, the 2nd largest generation cant afford to buy a home, my gen z kid cant afford a single wide mobile home. clayton homes now wants $50k for a 860 sq ft mobile home.....man bye
Oh just keep voting blue and it’ll get worse, I mean that’s what the blue voters wanted right? You don’t love $500k starter homes, $6 gas, eggs and butter? No one cares about the whining if you voted blue, if you vote red I’m sorry and make your presence felt this year and for years to come, federally and more importantly locally.
You will miss out. Now is a great time to buy a home. Renting forever is a scary proposition that you will haunt you forever and prices have never went down. Dave Ramsey showed even in 2008 prices did not come down
It’s a great time for those who can afford it. Prices ran up like crazy the last few years so in many cases peoole who’d like to buy are priced out.
Only the rich can buy now
Prices went down in 2008, I know because my home was under water and I was able to refinance under HARP from 6.5% purchased in 2005 to 3.65% in 2013! My home value just recovered because of the pandemic. BTW, I live an hour north of NYC!
@@kat-oe7gb -
Prices went down or stayed stable due to the housing market crash and the shakeup of the economy. A score of people lost their jobs and had to sell in order to downsize or relocate. Builders had finished homes on the books they had to sell off, because even they were looking at going out of business. In 2009 while living in Raleigh, NC, there was several builders desperate to offload their homes, they offered potential home buyers a chance to lightly live in the desired homes for up to 2 weeks to get a feel for the neighborhood and the home itself with a contract that had to be signed and rules adhered to. The Raliegh/Durham area experienced builders attempting short term rent to buy programs all for the sake of clearing out their books, even if it was only temporary, with many eventually getting burnt by contract holders who couldn't afford to stay on till the end of the rental contract, which eventually put the homes back onto the books of the builders, and still a shrunken buyer's pool.
Apartment rentals actually dipped a bit, or the prices stayed stable for established tenants as a means of stalling mass exoduses due to the downturn of the economy. But as things rolled into the 2010's, and the market was said to had stabilized or improved, the prices began to creep back up.
Lastly, refinancing is not the cure-all that people make it out to be. First off, doing a refinancing is not free, there is a cost involved to complete the process. And for the lenders who offer "free" refinancing, all they did was apply what's owed into the loan. Also, the terms of the loan are now extended. Though doing a refinancing might put some money back into the household budget, that household now has to undo many of its poor money management habits and decision makings, not over the course of a few months or years, but for the lifetime of that homeownership, because as we've seen with this inflation, goods and services prices will go up, meaning that extra money saved via the refinancing, now has to cover the increase in cost.
Responsible Adult Math 101.
BLM
Dont listen to this guy, if youre comfortable with mortgage payment then go ahead. My cousin bought in 2021 for 930k in S. Califormia, now worth 1.4M!!
Did you watch the video? I literally said in the video if you find something you can afford and are comfortable with then you should pursue it lol.
@@blackrealestatedialogue
No they didn’t because people don’t really listen no more, they heard but they don’t really absorb what their hearing. That why they are called by their leaders the dumb masses. If you work with the public you will quickly realize how dumb people really are and only hear what they want to hear.
What’s wild is getting a mortgage on a $900,000 house. I focus on no mortgage or low mortgage.
"worth" lol unrealized gain. Need to sell it to actually realize the gain. Houses are liabilities.
It’s not the rate it’s the purchase price ! Existing homes that appreciated so fast 2019-2022 and houses built
Off comps are over valued by 70-100k
I agree. It’s not interest rates at all. Interest rates could be 5%, prices are still way too high for many people
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