To my own research In USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.
Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
I've been watching the housing market closely, Prices have been skyrocketing for years. It's going to be tough for first-time buyers to enter the market." how can one diversify $280k reserve .
I agree, It's not just the prices, but also the increasing interest rates that are making it more difficult for people to afford homes. With a good FA you can make up your portfolio.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.
High interest rate causes house market declining, less people are buying houses. more empty comericial buildings are converted into residential condos wich results in rental declining.After covid, more people are working at home, artificial intelligence technology has eliminated many office jobs, and commercial buildings are vacant and converted into apartments.
With rates climbing like never before in ’23 coupled with uncontrollable inflation, and our own mortgage at now 7.5% what are the best alternatives/strategies for avoiding a crunch and maximize my $200k savings other than moving in to an RV with my two kids and wife.
You are not alone we can no longer afford our mortgage, husband wants us to travel or relocate/I am proposing cashing in, walking away and renting while putting the rest in the stock market.
I believe that for the market to normalize, there must be a minimum 40% decline in home prices. It is advisable that you get advice for appropriate portfolio allocation from a knowledgeable advisor if you are unsure about purchasing a home. That's how I've managed to survive for the past five years and accumulate about $1 million in investment returns.
I would be happy to hire someone with a good reputation. How can I locate and thoroughly check them? We started thinking about the concept because we have a family lawyer who has periodically mentioned fiduciaries and we know how valuable they are.
I bought my '71 house half year ago. I worked some lighting in the attic crawlspace, and noticed the lumber was of high quality wood. When I tried hammering nails to them, the nails have trouble getting in and got bent many times.
Exactly!! Speculation is the problem, together with the so called 'real estate industry'.. they're the middleman that cause you to hear on the news that things are 'good' when prices are rising, but don't know squat about what they sell - try asking one if the house has a furnace or a boiler.. you might get a blank stare because they don't know the difference 😂. Been there!
@talkingonline821 The part that really cements this idea is that houses in the middle of nowhere with no jobs inflated like crazy too. People used to always say that if you can't afford a house in your area just move further out. That simply isn't an option anymore. Commuting 3 hours daily just so you can have a job that pays simply isn't worth it. Better to just keep renting.
After building a rental property portfolio, I became exhausted with real estate market challenges and decided to sell. Now, with about $5 million, I'm contemplating investing in the stock market with solid positions. What are your thoughts?
With $5 million, one wrong move can have significant consequences. It's crucial to invest cautiously and diversify, with 40-50% in safe investments. Given your budget, I recommend considering financial advisory services.
Absolutely! Most undervalue advisors, but their expertise and risk mitigation strategies are invaluable for savvy investors. For those with busy schedules, monitoring the market is challenging, so we delegate to experts. I'm currently working with one, and my portfolio has grown to $1.3M, a 25% increase from last year, with robust diversification and inflation hedging.
This is mind blowing! As a young adult inheriting about $500k and new to stock investing, I'd greatly appreciate it if you could direct me to your advisor. I can't afford to make costly mistakes.
She goes by "Melissa Elise Robinson" I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
I’m a cash buyer so I don’t care about interest rates, but I will not buy a home from someone who thinks they can sell for 2x what they bought the home for 2-3 years ago. They can sit on it.
In 96 my mother worked for $11 an hour 50 hours a week and was able to get a 48k mortgage on a 1600sqf home from saving $200 a month for 2 years. Now I make $11 an hour 55 hour work weeks and... I live paycheck to paycheck in Lowe income government assistant housing because renting anything else would eat 2/3 my paycheck. I'll never afford to buy a house
I was a stay at Home mom with no money in my IRA or any savings of my own, which was scary at 53 years of age. Three years ago I got a part time job and save everything I make. After 3 years, I am 56 yo and have put $9,000 in an IRA and $40,000 in my portfolio with CFA, Abby Joseph Cohen. Since the goal of getting a job was to invest for retirement and NOT up my lifestyle, she was able to scale this quickly to $150,000. If I can do this in a year, you can do better.
@@MarineMaester Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
I have lived in Florida for most of my life and I have seen it change. I didn’t like what I was seeing and I didn’t like what was happening to my financial situation so I sold out and left. I was lucky enough to get out at the top. I don’t regret my decision to leave for a second. My expenses are roughly one half of what they were in Florida. Florida is a gun happy state now and crime is rampant. I traded my home in the Florida Keys for a house that’s twice as big on 25 acres at the top of the mountain. I have an 80 mile view and deer in my front yard.
Yep. One of my younger relatives bought at the beginning of the pandemic. Everyone was freaked out and buyers had disappeared from the market. She was meet at the place by a real estate agent that opened the door and asked her to text him so he could come and lock up. She toured the place and got it for 10% off asking with a 2.5% mortgage. As they say, "the time to buy is when there is blood in the streets."
There are plenty of starter homes, but people are trying to charge "New Home" prices for them. There's no way that a home built more than 20-30 years ago is worth 500,000 to a million dollars and yet all I see are 400,000-500,000 dollar homes on the market. Everyone wants to be a millionaire these days.
@@felixthecat2786 Newer house are necessarily better. A lot of these new tract homes are just disaster. Built as fast as the can. And often on much smaller lots since the real cost is the land.
Value of my house on Redfin has more than doubled in 3 years which makes no sense considering I didn't make any improvements. Yet the property taxes and insurance keep skyrocketing.
Boarded up 4br brick ranch $35k 30 years ago on a country acre. Less than $10 had it looking good. Low taxes. Current prices are completely out of reason and many homes are built out of poor quality materials.
Something buyers are more and more concerned about(beyond the price of the house) is the rising cost of taxes, insurance and maintenance. Even if you pay off a house, monthly costs are almost like having a mortgage anyway.
Depends on where you live My property taxes , insurance, and maintainence cost me a total about $125 a month. My house is paid off. When I turn 65, there will be a cap on my property taxes.
What’s crazy is that my sister and her husband were making 6 figure incomes prior to moving to Iowa from Chicago 3 years ago. They cleaned out all their savings to pay cash for a house now they both are laid off from their jobs. They are freaking out right now.
This doesn't even make any sense. Inflation alone would have made up for their mortgage interest. Paying cash for a house makes no sense. You can easily invest that 80% in investments that exceed your mortgage rate. This is why super rich people still finance their houses.
Chicago is paying businesses a lot in tax breaks to push RTO because the city offers nothing to justify the high cost of living besides being forced to live there for your job. It is extremely crowded and doesn't have many good attractions.
@@burmy1552🤔...hmmm.. pretty sure you're not thinking about how fast the cash stacks up when the end of the month comes and you don't have a mortgage... rent...car payment... nothing/nada...it's all yours month after month after month...ya.. it's pretty ridiculous man how fast you end up with a couple hundred grand.. trust me I know
No tax assessors office should be able to raise property taxes without thorough inspections of the homes first. This is a financial attack on the American people. Most of the politicians should be charged with benign neglect for allowing these hikes to happen.
I’m not letting any tax Astor’s into my home. It’s bad enough that HOA’s make our lives miserable with their strict regulations on what we can do to the outside.
Mine just went up. No improvements on the house, in fact it’s worse. Not to mention, new construction around me has ruined the view and charm of my property. Needless to say I’m not happy
@@prd004.2Here in Texas there is a lawsuit against the assessor because of the way they have been raising taxes. A larger percentage goes to the local school district. What was happening was the school just decided they wanted 15% more money this year over last. The assessors office just increased the appraised value on every unit by 18% and than readjusted the tax rates to have the school get the money they wanted. Where did the money go? To build a brand new pro level stadium for the football team.
Thank you Michael! I am 74 & living in Phoenix, Retirement Community. It is comfortable living on my Pension & SS. But this isn’t the Country I grew up in. With your help, we can be wiser. Anything can happen!
I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks against next year. Hope to make millions in 2024
Since risk is at an all-time high right now, perhaps you should be a little more patient and return when it has decreased. Alternatively, you can consult a trained financial expert for strategy.
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
Angela Lynn Shilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Ive been saving up for a house for the better part of a decade, and at this point i can keep waiting if i have to. No sense in buying houses at the top.
How do you know it’s the top? I thought back in 2016 houses were too expensive and that there would be a crash in Florida. Good thing I quickly overcame stupidity and bought / sold several properties since then or else my net worth would be a hell of a lot less.
I am an agent in north Texas. I have rarely seen this many daily new listings. I have NEVER seen this many new listings where the daily price decrease are even higher
Property tax is insane in Texas. Typical as they brag how wonderful their state is while they blind side people with illegal and runaway taxes. They're also a sanctuary state.
Where I’ve been looking in western NC very few reductions, way overpriced, and the rest just sitting there, nothing contingent, nothing sold, only new overpriced listings for many pieces of s-t
As a former g.s.e. employee your spot on..the unemployment rate is.2.5 percent higher than reported . Look at all of the revisions made.months later from the feds.
I'm a buyer and I'm here just watching. Houses that have been on market for 100+ days and sellers not wanting to budge on price Also, im not spending 400k on a house that needs 10-20k renovations when it was bout 3 years ago for 280k
50% off within the next two years🎉 but also the start of a depression. And those 19% of people are all realtors. Great video as always! I follow you every day, and quite often I post your videos on Facebook. I’m right there with you in the way that you think about things.
His opinion is stilted by living in FL where cost of living has sky rocketed! My friend has a UHall business near Sarasota and is doing a great business renting trailers to people moving out!
The stock market on the other hand is giving off some serious 1929 vibes. With all the talk of an impending financial storm, I'm wondering what the best moves are to protect investments right now.
it's like trying to predict the weather in a hurricane. I'm thinking of rebalancing my portfolio, but it's hard to know what's the right move with so much uncertainty in both markets.
Right? It's almost overwhelming trying to make sense of all the conflicting signals. I've started looking at different strategies, but it's hard to know what will actually work.
I've been researching different advisors who specialize in navigating market turbulence. If anyone has any recommendations or has found someone who’s been helpful, I'd appreciate the tip.
Between food, the increase in car prices, gas, electricity, taxes... basically everything! Nobody has money left to pay a monthly mortgage and all the bills that come with a house.
Tonight I was looking at homes where I live in South Dakota. A house that sold for $400k in 2018 is now on the market for over $800k. Insane! These people are delusional to think anyone is going to buy their home at that price.
The association of realtors are looking for bag holders. They don’t care about someone losing money/foreclosing on a home if they overpay. They make money when homes are selling so you will never hear anything negative from realtors.
He keeps forgetting that 40 million illegals have to live someplace. EVERY small town in America has an Hispanic population. The real number is closer to or above 40 million. They are in an awful lot of affordable housing that would otherwise be available to Americans.
No one's job is safe. Automation will replace 90% of all jobs. "It happened before and we were fine". We have never experienced AI/Automation comparable to what's happening now/will happen soon.
My husband does concrete for major ciries around US. He builds million dollar concrete skate parks Hes building one in Detroit Right now! Never been layed off Not during covid Not ever Trade jobs are not hurting.
I’ve decided to just go modular/manufactured home and some land. There are awesome modular log cabin style homes for 110K buy a 100K plot somewhere and it’s still cheaper than buying these cookie cutter Stepford wives homes.
Sure but his audience only lived beyond their means. With adult toys like boats vacation homes, and exuberance of their corrupt way of life. Now they would never stoop so low as live in a module home. They are reaping what they sowed. 😅
I was looking at some of these "shed to home" articles and videos. Some of these sheds are beautiful, have nice porches and bigger than the "tiny houses". Some are less than $20k. Not sure if you have to pay taxes on them just sales tax maybe, tax on the land for sure. Even if you own land tho, zoning might be a problem.
It doesn't matter if there are one trillion homes on the market if the prices are all out of range for me. Home prices should be 4x buyer's income, no more than that. If I earn $80,000 a year, I shouldn't buy a $500,000 home. I should be buying a $320,000 home. A $500,000 home comes with insurance premium for a $500,000 home and property tax for a $500,000 home. If one's stretched too thin, it's very easy to lose the home if one become unemployed.
My townhouse in Henderson NV has more than doubled in value since purchased for cash in 2014. Since natural disasters like hurricanes, tornados, forest fires, do not occur too often here, home insurance is still very reasonable. The housing market is still strong in the Vegas basin even with all the construction happening. As long as the exodus from the west coast states continues, prices here are going to stay strong.
Where are the buyers? They're broke and they're waiting for interest rates to draw. And I was talking to a lottery litters. And most of them close friends and every time I use the word market crash. Oh no. It's a softening market and we all laughed. Anyway, it is what it is. Have a great weekend
*Amazing video, you work for 4Oyrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello, I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Barry Silbert, has been an amazing experience.
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Barry Silbert
Good day all👍🏻from Australia 🇦🇺 I have read a lot of posts that people are very happy with the financial guidance he is giving them! What way can I get to him exactly ?
I'm a snow bird And i've witnessed huge pricing crisis in south florida. The market is out of whack, And only a fifty percent price cut will get the the market moving again
Try the Boston area. If houses were 350k here I would already own one. My job is here though and there is nothing in a 50 mile radius in the city that is close to affordable when you add in 7% yearly interest.
Yes, it is location. The prices should be in your range. If you can't afford the location then its not for you. Funny that people focus on monthly payments.
@@estuardo2985 the location can dictate the price especially on the coast... prices are much higher near the ocean,I'm 2 miles from the ocean and my house continues to rise regardless
Minimum wage in Portugal where I live gives you a room in a capital city and no money to survive, we have no money to buy anything, greed of landlords, corporations and banks🤮
I bought my house in 2015 for 180k in California. Acxorsing to reports my house is now worth 350k BUT the reality is if we sold our 3 5% interest rate house we'd never find another house to replace it in california at least not until things calm down.
Michael, loved your video. in response to the rising median price of homes due to the $500,000 and upward sales. Here in DC, what we've seen in Montgomery County, MD., is homes $500,000 and upwards being purchased by foreign nationals who pool their money, put multiple names on mortgage which artificially drives up prices. This approach to home buying is similar to the late 90s when newly arrived H1B workers arrived in Northern NJ and were driving up the price of rentals ($500 and more over price).
Thanks for keeping us updated! I feel sympathy and empathy for our country. low income people are suffering to survive, and I appreciate Deborah. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.
I began investing in stocks and Def earlier this year, and it is the best choice l've ever made. My portfolio is rounding up to almost a million, and I have realized that when a stock makes it to the news. Chances are you're quite late to the party, the idea is to get in early on blue chips before it becomes public. There are lots of life changing opportunities in the market, and maximize it.
Not sure if owning a home is worth it at all anymore. Renting seems cheaper after maintenance and repairs either way you cut it (paying for repairs or spending time diy).
for homes to become affordable the housing market has to correct hugely - when homes were most affordable mortgages required 50% down and had to be paid off in 5 years the NRA and speculators have destroyed the housing market
I work in tech and make a good chunk of change. I will not buy a house without having a 1 year runway of mortgage payments and living expenses + the ability to put 50% down. I have zero trust in job stability.
🎉🎉🎉 it’s so insane how when I’m one of the first to watch your video, it just blows my mind how many hundreds of people log in and watch what you’re sharing. So glad that I started following your channel when I did. I’m very proud of you Michael with all your success 👏👏👏👏 Always be true to yourself and don’t forget that it’s ok to take a day off every now and then. (Just warn us the day before) I just don’t want to see you burn out. I really hope that you and Lisi are enjoying your time in California. Take care my friend. I always appreciate the information you bring to us. Blessings,Carlos ✝️🙏❤️😊🇺🇸
It’s all thanks to people like you Carlos that his videos get to be shared with those hundreds of people you mentioned. Because you are watching the videos on a daily basis, the YT algorithm understands that it is a good video and start to share with new people all over the world 🙏 I read your comment to him, and he is very happy that you are still here with us but mostly very grateful to your support and care!💕❤️☺️🥰🙏
But here in Asheville, NC, housing prices are skyrocketing. Yesterday, a friend put her 1400 square foot, 3 bed/1.5 bath, 20 year old house on the market for $980,000. And she's expecting a bidding war. Last week, another friend sold her fixer upper for $438,000. No inventory here. 67,000 new people moved here in the last 4 years.
Yep. My daughter & son in law live in Hendersonville, 40 min from Asheville. I want to move there so bad but cant afford to because what I would get for my house here would cost me another $100k there, IF you can find one for sale. 😢(a lot of Floridians are moving there)
@@lindylou3519 Ashevillians who've lived here for a while are moving out. The crime is horrible, housing unaffordable, politicians catering to rich tourists and no one can afford restaurant eating. This place is a drunken Disneyworld.
The same companies promoting all these price increases are the same ones with vested interests in real estate. Its unfortunate that these bias groups are the same ones in charge of listings on various websites. Theyll all be dumbstruck in the end when it all falls apart before their eyes, kind of reminds me of the last GFC.
I bought my first house in 1989 at 9.5% on a 5/1 ARM. Was later in the mortgage business for 20 yrs. Long-term 30-yr fixed rates around 6% would not surprise me at all. Bob S.
Conveniently leaving out the cost of your home compared to income. For me every house is ten times my income without including the 7% in annual interest. Soooo
@@teddyhammer2558 Lordy, we made about nothing 1 & 3 yrs out of college - $55k in combined income & a $120k home. Am 60 now (retired at 53) & we went on to make significant income & r multi-millionaires now. Bob S.
Friend of mine is selling their house. They just put it on the market on Wednesday. The market is still decent here so it’ll sell quick. It’s a two bed one bath 800 square-foot house in a good neighborhood. But I was absolutely shocked at the price that the realtor said they were going to list itt. Looks like they backed it down about 40,000 from what they were originally going to list. But I will be very interested to see what it sells for.
Investors just buy if the numbers are good. If rents drop half of investors will have to sell the properties will not be profitable anymore. I really don’t understand why investors buy in California as the caprate is terrible
I have driven by shopping centers here in Central Texas , there are so many store fronts empty, for over the last few years. It's a rare evening that you have to wait for a table at the restaurants. the economy is not doing as well as its touted.
Michael, I have seen condos selling for a whopping $200,000 and all of them are a pitiful 800 sq ft and no, you don't get a garage with any of them. And ALL of them demand you pay $200 a MONTH in "HOA fees." That has kept me from buying a house for four years. We are going to see a homeless epidemic that will make the Great Depression look like a nice time. Oh, and with Bidenflation making it hard for me to afford gas and groceries, I sure won't be able to afford a house for the next 4-5 years.
I was in mortgage operations and most businesses are closing because no one is really buying; I’ve heard of real estate agents are also looking for jobs because of a lack of clients.
Homeowners will be wishing there were more investors to make offers when they need to sell. The investors have evaporated since the deal just doesn't work anymore.
If prices go down 60% , then it will approach the worst year . But just because buyers are refusing to outbid each other and just because inventory is increasing rapidly does not translate to a real estate disaster .Prices are still higher than 2019
Just paid a $4700 deductible on a hail damage roof replacement. Tree fell through my vinyl privacy fence. Insurance will only pay for two panels that I can’t find a replacement for. New fence costs $12,000. Had chimney cleaned and sealed and heat shield installed. $4,000. Need new chimney caps and bricks replaced due to spalling and tuck pointing done for two chimneys. $7,500. Owning a home and the maintenance is a bitch.
Trying to sell in Michigan right now. We are the cheapest home in 10 mile radius, well maintained, fairly new home, clean. No offers in over 2 weeks even with price drop. It doesn’t make much sense unless there are no buyers.
Interest rates need to go higher double digit amd stay high for 5-10 years. It needs to cost more to borrow money, Americans and our government need to slow down our spending and borrowing. This system is unsustainable. We need to knuckle down go through the pain if we want a future.
Never happening. Wall Street cronies could care less about Main Street and middle class and poor Americans struggling with inflation. They want to go back to ZIRP and lower rates to 0 or negative so they can borrow money for free or cheap. Keeping rates where they are or higher encourages people to invest in T-Bills or CDs and not in their gambling playground, the Stock market
Unlikely to happen. We did that in early 1980s. We were told to not do it again. We have not. It really hurts those countries. They will stop playing ball.
Once all these homes sell at such an inflated rate, won’t that set the bar for all real estate moving forward. Like a market bottom that will push to new higher highs in the future.
I used to visit Sausalito when I lived in the S.F. Bay Area. The prices there for rent and homes there must be astronomical now. How do people that work for minimum wage like service workers and baristas afford to live even near Sausalito?
@@iworkout6912 Sausalito and Tiburon are two of the wealthiest suburbs in the S.F. Bay Area and Marin County. Just saw a listing for a 700 sq. 1 bedroom condo in Sausalito for $775,000. That's cheap?
I might be off topic here, What trips me out right now is that I'm renting and I was asked 2X the rent last year, which is doable in my case but now they want to go to 3.5X the rent which is really ridiculous because I'm short $100 to qualify but I can still make the rent at even 3X ...I don't understand why or what this X times of rent means.
