Prepare For the Longest Foreclosure Wave In History

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Prepare For the Longest Foreclosure Wave In History
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2 апр 2024

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Комментарии : 752

@jrp6313 2 месяца назад

South Louisiana here..... I WISH my homeowners insurance only went up 1000$. We get 10-12k quotes for 150k homes. Joy!

@cgc1581 2 месяца назад

Wait whuuuuuuuuuuut!!!!!! 😮

@anthonymakley1530 2 месяца назад

This has happened too often I had coworker in 2008 had to give up his house because his insurance went up $600.00 a month. He couldn’t afford it with taxes going up and insurance on top of his payments

@diggy4963 2 месяца назад

Atlanta, 16,000 homes owned by 3 investment firms who rent them, driving prices up to where people can’t afford to live here.

@ocmetals4675 2 месяца назад

geeezus! Nah... the way I would redirect all my money to paying off that house and skip insurance.

@jrp6313 2 месяца назад

Happening on the daily here!!! The town I live in normally only has 2-4 houses for sale at any given time. Great school district. NOW??? 30+ houses are forsale. Not exaggerating at all!!! @anthonymakley1530

@TJ-in-CO 2 месяца назад

I work in loss mitigation .... been working overtime for a month now ..... the foreclosure train is coming down the tracks

@realestatemindset 2 месяца назад

The most recent black knight data I reviewed looked liked loss mitigation is falling apart for the households who got the lock down plans.

@TJ-in-CO 2 месяца назад

@@realestatemindsetit's a hot mess all the way around.... sooo many repeat borrowers trying to rinse n repeat mods as a last ditch effort.... and it's just not working out for them

@kashbonds5658 2 месяца назад

I worked in shortsales and loan mod underwriting from 2011-2018. You seen the same borrowers. Loan mod doesnt work and short sales typically kills the borrower unless they are just trying to circumvent the losses they would incur if they stay in the home.

@treasurethetime2463 2 месяца назад

I know nobody has a crystal ball, but I just want answers. Just getting tired of all the speculation, anecdotal stuff, fake vague predictions.

@jermon983 2 месяца назад

I work with level three meditators. From the big banks. I agree with you 1000%. Its going to be very bad

@kentharrisgeorgia 2 месяца назад

To spend your entire working life for a house. That is insane. The max time should be only 10 years. Homes should cost no more than $80,000-$90,000.

@nelsfrye8570 2 месяца назад

We may get there. I can imagine government price caps coming.

@MikaAKAJada 2 месяца назад

Just don’t be a homeowner and travel the world giving back to your Mother Earth. Have yet to see one person do this hence god is shutting this place down.

@misterogers9423 2 месяца назад

You might be able to afford a 500 sq ft house in Michigan built in 1854 and a nicer one. The ones that need work are half of that.

@mr.g1758 2 месяца назад

Read an article yrs ago how in the US the avg home cost nearly twice what Canadian homes cost. Same materials, but diff was home mortgage interest deduction. They don't have that in Canada, and they could pay homes off in 15 yrs whereas we usually take 30. That tax benefit gets capitalized into the home prices, which is part of the blame.

@DanPittel Месяц назад

What World do you live in? Prices haven’t been that low… since the min wage was $4.75/hr! 👋🏻😉👍🏻

@user-rh4lb8xc2w 2 месяца назад

Currently Residential real estate value is at 43 Trillion. Our national debt will reach that number in no time. Hence; soon we will be living in the most broke expensive country in the world 🤷‍♂️

@casspower 2 месяца назад

It already feels like that anyways

@monicalee9659 2 месяца назад

Absolutely 💯.

@davidallen2682 2 месяца назад

Wall Street needs to be out of the single family home market period. This is bonkers

@brandonmesser2503 2 месяца назад

Agreed. There's a point where too much of a good thing is bad. Thats whats happening here with the investing. They've convinced us to save and not spend. The saving is in social security that is stolen by politicians. The second is in 401k which is stolen by nation states and every other person with enough money to use their monetary weight, wielded by computers that steals the money out of the market etc. One day people are going to realize the stock makret bas vacuumed all the beauty, education, infrastructure etc out of our communities and isnt even in the market when they go to sell. Its one big scam. The politicians now can blame you for your bad investment, and they and their wallstret buddies will walk away to Monica

@alliep7288 2 месяца назад

They turned all the single family homes to Airbnb’s where I live! The house was 195k in 94’ now it’s 1.5million.

@cyrusm3391 2 месяца назад

Its called capitalism and free market

@davidallen2682 2 месяца назад

@@cyrusm3391 lol we absolutely do not use a free market. We would have had no fed reserve or any bailout of any kind in a feee market. Seems like we change the financial rules every other day now

@bpb5541 2 месяца назад

If we had true free markets this would not be an issue. Markets would have been allowed to correct. The GFC we should have gone into a depression. WE did not. We just stimulated and bailed all those crooked bastards out, which made rich people even richer. Since the GFC we have had the longest running Bull Market in history. But at who's expense? If you shop for your own food or pay any bills you know exactly what I am talking about.

@ronedwards6478 2 месяца назад

So the real estate market gets bailed out while millions are homeless. But the mention of student loan forgiveness enrages the same people. Got it

@paulconner4614 24 дня назад

I can't explain it but saw the same thing in 2008. We would hand out billions to corporations to save them with very little push back, but any proposal to help individuals was faced with massive vitriol.

@greyballer1671 2 месяца назад

The reason people have foreclosure risk is they buy too much. Too much house, too much car, too much vacation, too much lifestyle. My house is a fully updated 20s craftmen bungalow, very nice. Payment is 15% of my income. My vehicle was 30k and I paid cash. My vacation is in my vehicle or mexico for 2k for a week. If I loose my house only bezos and musk still have houses. I have coworkers that make what I make and have huge houses, boats, SUVs, etc. No cash, no savings. They loose their job they cant eat in 2 weeks..

@runningfromabear8354 Месяц назад

Keep in mind the size house you need is related to family size and work. We have 4 kids (one set of twins) and WFH. So 5 bedroom house, one bedroom is an office for income. Otherwise, we drive 2013 minivan bought cash new that we'll drive until it dies. We live by a ski resort, so no vacations per se but we ski, kayak, hike etc.... we don't need to travel, there's lots to do close to home. No boats, atv's, snowmobiles etc... We grow a lot of our food. We bought our house in 2009. We don't have an expensive lifestyle

@j.l.salayao8055 12 дней назад

@runningfromabear8354 what will you do with that big house when all kids leave to start their own life?

@janezanchelli3784 5 дней назад

Yes, but what would you do if you're home insurance went from? Let's just say $1,000 to $20,000 a year. Then you would be in trouble just like the rest of us

@TheQuietStorm6000 2 месяца назад

This was a good video. I am a home inspector and a renovation consultant. What I am seeing is buyers are paying too much for their house. They are also over improving their house also. They are sold by the Realtor this is your forever home or your most valuable asset and get everything you want cheap and don't overpay. First of all, your most valuable asset is not your car or your house; it's your health. Without good health you can not enjoy your house. You own your health your entire lifetime. Your mortgage is typically 30 years.

@user-Witchery101 2 месяца назад

Amen! I had an aortic valve replacement and ascending aortic aneurysm repair in 2022 via open heart surgery. I’m only 46! What a revelation. A house is just a house. NOTHING is worth your health. No house, no job, no car, no possession. That’s idolatry. Health and Faith first. PERIOD. ❤

@farlyn1605 2 месяца назад

Best comment!

@NickeyVamp Месяц назад

@@user-Witchery101 I hope you are doing well, you are correct our health is paramount. Sending good energy to you for health and happiness. Much ❤

@saritastarr7821 2 месяца назад

I agree I don’t want to get a mortgage! I agree with exactly what Melody just said. The government is screwing us. Things have go to change.

@exnecross3141 2 месяца назад

Rent increases faster than mortages do. If you take out a mortage, it freezes in time and doesn't appreciate with inflation. Rent will continue to rise forever. Mortgages become cheaper than renting.

@bellakrinkle9381 2 месяца назад

Your only concern will be annual increases in PROPERTY TAXES. This is how farmers lost their properties during the DEPRESSION years. And now, the incentive will be for Counties to pay county employee's payroll,. (Judges, District Attorneys, clecks...the list goes on -- police and firemen, etc.) .@@exnecross3141

@MplsMaven Месяц назад

@@exnecross3141 my problem is the rise in taxes and insurance. When I got my mortgage 7 years ago I was paying $413.00. Due to taxes and insurance I now pay $889.00. The taxation and crazy insurance is what is doing me in.

@gabeswitala2292 27 дней назад

Ironic that you post this just days after dancing in the streets over a fraudulent conviction of the only person in politics who ever did anything to actually help?

@martysk8r 2 месяца назад

government(2020): Here is $600. taxpayer: Gee, thanks. What's the catch? government: The cost of living will double. You're welcome.

@fjb7380 2 месяца назад

Straight up

@MplsMaven 2 месяца назад

Except they never stated the hook. Most Americans don’t understand that free money is not FREE! Tax payers pay for everything the government does .

@barnabusdoyle4930 2 месяца назад

It’s funny how many people think it was the stimulus checks that gave us inflation and not things like the tariffs on lumber, steel, aluminum and all Chinese imports or the sanctions on Russia.

@ocmetals4675 2 месяца назад

@@MplsMaven those $600 were not what caused the inflation. That was only 800 billion of the 3 trillion package that passed. Not only that but it's been proven over and over again that greedflation and corporate monopolies have been the cause of prices going up. There has been record profits in the last 4 years while all of us struggle.

@MplsMaven 2 месяца назад

@@ocmetals4675 It has been all of the “stimulus money”

@stacksatsshow 2 месяца назад

Melody nailed it on being debt free and not jumping in to a mortgage you can’t afford and becoming a house poor debt slave.

@joseCalderon1976 2 месяца назад

Absolutely. My base salary is $72k per year, so back in 2012, I got into a $165k mortgage at 3.5% interest. My payment is 1200 per month. That puts me at about 25% for housing. So I'm not house poor. And I pay extra every month and I split the payment into two. I have $98k left and I should be done in about 10 years. And I never wanted my payment to be more than $1200 per month indeed 👍

@jrjr3412 2 месяца назад

@@joseCalderon1976 Where do you live that you only need a $165000 mortgage?

@RaqueLauren 2 месяца назад

No one can afford a mortgage. By the nature of it. If you can't pay cash for a house, then you certainly can't afford to pay 3x for that house. It doesn't matter that the scam lasts 30 years, the banks are still fleecing us. A slow burn is still a burn.😂

@jrjr3412 2 месяца назад

Of course dont jump into a mortgage you cant afford. But rationalize it all you want, if you rent you are throwing money away

@cyrusm3391 2 месяца назад

Its not rocket science

@richardmeiners6535 2 месяца назад

I'm downsizing, bought a junk house in small town for $7500 and a fairly good sized lot. Two rooms, fixing it up and going to make it as energy efficient as possible, grow a garden and have some chickens. All while I protect my rental properties and do my best to keep them full and above water. I don't need much, a bed, bathroom and internet connection. I paid cash and am working hard to pay off all debts. Thank God, I have a job and make decent money, but also have 9 rental properties, several of which I own debt free

@YBGuy 2 месяца назад

Do you live in Mississippi?

@johnkeith2450 2 месяца назад

I've built a duplex, renter paying mortgage, but could pay it off if I wanted. Bought 1/2 acre next door, doing the same with garden, etc.

@monicalee9659 2 месяца назад

Where did you buy a home for $7,500.?

@richardmeiners6535 2 месяца назад

@@monicalee9659small town in Kansas. It's not much, just two rooms but more than enough for me. Of course right after that one, I bought a 4 bedroom 1 bath home in the same town for $1500, put a new roof, paint and carpet and rent for $750-800 a month. It's all about looking for opportunities where others aren't looking.

@jonathantorres8865 Месяц назад

7500 for a house in a big lot ?? Really? 🤣🤣👏👏👏

@shannondavis5728 2 месяца назад

Rent rate are just as high as mortgages….just without the added cost of property taxes & insurance but application fees & security deposits are like closing cost for these luxury & old muti family homes!!!$3,500-$5,000 just to move in!!!😳😳😳😳

@MplsMaven 2 месяца назад

But you are paying the insurance and property taxes. That is why when insurance and taxes go up so does your rent.

@davidwilliams4498 2 месяца назад

I helped my uncle build a small apt complex early 70s. Part of my work career i workrd for a few real estate millionaires. ...here in recent years everyone getting in on real estate greed. It just blows my mind to never ending depths of outer space how real estate rentals an sales are so high. It literally will crash our economy in short time. Its not even debatable. It is literal simple math.....no way can an economy survive when your rent an morgage is so high. It starves the rest of the economy...

@anthonymakley1530 2 месяца назад

Same thing happened in 2006 people were buying what they couldn’t afford not figuring in rising taxes and insurance. And wages are unsustainable for a $300,000 or $400,000 home

@MplsMaven 2 месяца назад

@@anthonymakley1530I live in a $350k house. I bought it for $35k as a foreclosure in 2016. I’m now worrying that I won’t be able to keep up with the taxes and insurance. I took a $40k mortgage to make repairs to roof, windows, electrical, plumbing. I started with a payment of $422.00 in 2016. Circa 2024 and my payment is $889.00. This is all an increase in taxes and insurance.

@monicalee9659 2 месяца назад

@@MplsMavenCrazy! A realistic picture that most can't get ahead. You did a great deal, and now twice the cost. It doesn't make sense.

@MplsMaven Месяц назад

@@monicalee9659 I don’t know how the government expects us to continue. The taxes are going up 18% each year. The insurance is even worse. It’s insane that these companies are turning such profits while literally driving people out of their homes.

@karenmorris8899 Месяц назад

@mplsmaven: That’s still a low mortgage payment. Great job finding that amazing deal. Hang in there.

@zzbudzz 2 месяца назад

I have 15k left on my mortgage 🤞

@josh_7569 2 месяца назад

Nice!!!

@NickeyVamp Месяц назад

Yes!! Awesome pay that thing off.. ❤

@zzbudzz Месяц назад

@@NickeyVamp I have enough money to pay off the whole mortgage but I don't want to get off all that money right now. The interest is next to nothing at this point..but I have certainly thought about it . 🤔

@markwriter2698 Месяц назад

Good job, I have my fingers crossed too. There are rising taxes and insurance which feels like extortion. I understand supply and demand but this is batshit crazy.

@resnonverba3351 Месяц назад

And I should care?

@mrmomo305 2 месяца назад

Debt slave. Selling your soul for the job you don’t like. 😢

@joserivera7349 2 месяца назад

Omg! Feel sorry for people who will loose their home and jobs.

@DABK2024 2 месяца назад

not if they tighten down

@blakeloyd1 2 месяца назад

I dont.

@shanerogers9386 2 месяца назад

@@hangguy209people who look down on others who rent because they are priced out of a home by greedy speculators need less teeth.

@bpb5541 2 месяца назад

I don't either, and I don't feel bad when folks riot this time around.

@shanerogers9386 2 месяца назад

@@hangguy209 keep whistling by the graveyard. 🪦

@Pleasure_Baron 2 месяца назад

A lot of ppl over bought in the last few years and on the other side of things a lot companies/corporations are posting astounding profits-- they just don't wanna pay ppl. It's sad. Like George Carlin said, "this country runs on bullst..." and "it's a big club and you ain't in it." My grandpa talked about it all the time; after NAFTA, his factory closed down and the jobs were outsourced. Companies used to take care of people and offer pensions and benefits, but they got greedy. Gramps used to say, "guess who's generation started outsourcing American jobs and selling us out..." It's sad. America is falling apart.

@HappyPenguin75034 2 месяца назад

People are making a lot of money. What’s your job and salary?

@user-os3qm3nb2k 2 месяца назад

George Carlin 🥳😄

@HarrisonCountyStudio 2 месяца назад

“Companies used to take care of people and offer pensions and benefits..” This is because companies used to be much smaller, regionally owned and operated. Even our “national” (brands) companies were American centric… until the 1970’s 50 years later, we have multi national corporate giants that have zero connection with their manufacturers, their larger communities, or least of all their struggles. The blame lays squarely at the FedGov’s door step. Don’t blame business. Because businesses flourish in a free market, we had experienced the greatest wealth generation ever, right here in the first 150 years. Blame the Federal Reserve (with FedGov approval) for destroying your currency. In 1929, a $20 💵 would get you an ounce of Gold. In 2024 you need 115 $20 💵!!

@fjb7380 2 месяца назад

The me Gen; and guess who’s taking their retirement piles of cash and propping up overinflated housing markets preventing young families from affording a home: the me Gen Thanks boomers

@bpb5541 2 месяца назад

And what you talked about is exactly why captialism dies. The problem with it is people are greedy... they don't care if they hurt people as long as they are getting richer. This is great until it isn't. Once we cross the rubricon, the rich will not survive. The cannot exist without the middle class. The middle class is disappearing at a very alarming rate.

@sheilagrace565 2 месяца назад

Seeing 1st wave now in WA; auctions, shortsales, foreclosures.

@user-ms3ko5gn8e 17 дней назад

Yeah I am seeing house prices drop. Some far out ones even in the $200,000 range. What county have you seen drops in?

@sheilagrace565 17 дней назад

@@user-ms3ko5gn8e also hearing through Sachs RE contact in Seattle, they are starting to drop.

@kenporonin1 2 месяца назад

Melody..... a genuine truth teller.....!

@ophidiaparaclete 2 месяца назад

Here in Idaho treasure valley they always talk median income of 76000. However, average income is 46000. Entry level housing is 360-400,000.

@brettekeland4679 2 месяца назад

Also, pay is starting to decrease in the treasure valley as companies are feeling the pinch. The biggest issue with the current mindset is that wages will always increase, so borrowers are maxed out on how much they can borrow. They never take into account that they could go backwards. Most folks are running about 97-98 percent of their income in spending and some are over 100% and racking up debt. One slip-up, and it's game over.

@pisacham123 2 месяца назад

Average and median are two different things. Average is you add up everyones income and divide by number of data points. Median is just the center point - 50% of people are less and 50% are more. You would want to understand the difference and see if having 50% of people in your area have an income >76000 justifies the entry level price

@anthonymakley1530 2 месяца назад

Unsustainable wages cannot afford these prices especially when taxes and insurance are included

@rentcda 2 месяца назад

Same thing here in kootenai county.

@raymond_sycamore 2 месяца назад

Melody and Travis, thank you for your temperate words of wisdom. You're right, when you're a slave to debt, you don't like or work for yourself. Sadly, many go into adulthood signing right up for student loans and credit cards, starting the debt trap early. Everyone should rein in their spending, and really consider the implications of that mortgage note. Have a plan to pay it off early!

@debbieforhim7800 2 месяца назад

So true! Have zero debt, you'll sleep better at night!

@NickeyVamp Месяц назад

Yes pay of principal as fast as possible.. I aways plan to pay twice my mortgage amount to get it paid off in half the time.

@isaiasgomez3180 2 месяца назад

waiting on the sideline and ready to grab this great opportunity. keep debt low as possible or zero, great credit, money in the bank.

@SomeUserNameBlahBlah 2 месяца назад

You're going to be waiting many years.

@anthonymakley1530 2 месяца назад

Just like she said counties will grab them up and you will be taxed to maintain them

@rumpointcondo3339 2 месяца назад

Don’t keep cash and don’t be debt free during this ridicules inflation. Cash is loosing value every day and will never gain it back.

@user-os3qm3nb2k 2 месяца назад

Does it seem like the worse things get there's more and more controversy over who is right and how bad things are? Most people don't know the trouble their friends and neighbors are in.

@jvz28az 2 месяца назад

The real problem started with the gfc. Thats where the Weimar Republic type of politics and the hyperinflation started. I have been warning and talking about this for the past 15 years. I was was with a very large relocation company/insurance company which was prudential financial and Brookfield asset management company through the gfc. All of our clients were other Fortune 500 companies. I’ve bought and sold in every single state and most developed countries. This is completely unsustainable.

@User122-qi6md 2 месяца назад

I just got a letter from Prudential stating they are wanting to buy my house! Hate institutional investors and invstement companies, they destroy local markets

@cyrusm3391 2 месяца назад

You should be a multi-billionare by now, are you?

@user-ew6rs1tm7z 2 месяца назад

I can talk about it for 100 years and eventually be right also

@jvz28az 2 месяца назад

@@User122-qi6md prudential financial sustained the GFC. The life insurance business held up because it wasn’t involved in anything risky and people still kept their life insurance.

@jvz28az 2 месяца назад

@@cyrusm3391 why would I be a multimillionaire because I saw what was coming? I was able to take appropriate steps to get out of the house I was in and stay with prudential which sold to BAM. I also kept a condo outside of the country.

@khonzi4266 2 месяца назад

Me, too!! I DO NOT want a mortgage. I want to buy one with cash, and I will figure out a way to do it. That may mean waiting and saving.

@blakeb1724 2 месяца назад

Debt isn’t always a bad thing. Used properly it is an amazing opportunity. But if you can’t use it responsibly then best to stay away and save.

@markwriter2698 Месяц назад

A fixer upper may be the way to go.

@user-ms3ko5gn8e 17 дней назад

Inherit a house is the way to go, if possible. My father unfortunately passed away & I Inherited his fixer upper house at 30 years old. The farm land is leased to farmers & that pays the property taxes & insurance. I understand most people are not that fortunate but remember that if you buy a house at least you can hopefully pass it on to your children and create generational wealth.

@stylzgohardvip 8 дней назад

Amen ✔️✨

@avenger1212 2 месяца назад

Travis. We've been waiting for a housing market crash for 2 years now. So far, the other side has been right about everything. Don't you think it may just be that we're going to permanently become a renter nation where the average family won't be able to afford to own a home? It starts to seem like we're all just looking for a reason to cling to hope, rather than accept that the crash we need may not be coming. I struggle to look at the future and not just think "why bother".

@easyfnmoney 2 месяца назад

i have to wonder about the renter nation claim. More than ever, people are mobile and not stuck in one area. If a micro economy doesnt work for a person, they can always get gov handouts and move to another area and hope for the best. Renting works better for this model.

@conchobar 2 месяца назад

The only hope for a crash is REITs dumping their inventories. Otherwise prices will continue to either rise or plateau.

@shanerogers9386 2 месяца назад

@@conchobar are those homes they own fireproof? What are they worth then?

@ophidiaparaclete 2 месяца назад

I think crash or collapse originates with the claim you'll own nothing and be happy.

@HappyPenguin75034 2 месяца назад

@fckytbAdsthey are doing just fine. Money money.

@randyd7557 2 месяца назад

Nice comment by Melody on selling us a lifestyle.

@beatdown3361 2 месяца назад

Man this channel really feeds my real estate addiction. Its get me going more than a 150 mph wheelie on a cbr1000. Gonna go stare at my kitchen when I get off work💪

@realestatemindset 2 месяца назад

LOL My question is, are the videos making you a stronger consumer? That is basically the only thing that matters!

@kylegrant9980 2 месяца назад

@@realestatemindset You are just spreading bullshit to people, with a a bunch of click bait titles. Foreclosures are at historic lows. Try telling the truth the market is going to be up another 3-5% in 2024.

@HappyPenguin75034 2 месяца назад

@@realestatemindsetor laugh

@harleyjordan7959 2 месяца назад

I genuinely feel bad for people that have bought these houses at absurd prices, but the market has to reset. I'm northeast of Dallas, and houses are 350,000 plus on average - even for old or outdated homes. There's a ton of money here, so people are getting by, but the pace of growth is unsustainable. Rental properties are also crazy. My rent went up $500 in 2022, and another $100 in 2023. I went from $1900 (which is already excessive for a modest 1800 sqft 4br that isn't updated or kitted with high end counters, appliances, cabinets, and still had cheap carpet floors) to $2500 in two years, and my income sure as hell didn't keep up with the inflation.

@NickeyVamp Месяц назад

Same my rent went up in the last month.. from $2,700 to $3,500 nope I am throwing $ away and I found a home with a mortgage for $1,200 a month.. I am going to be a homeowner.. also with a great interest rate it was a no brainer for me.

@user-os3qm3nb2k 2 месяца назад

Melody and Travis, you know whats happening now and in the past, docu-sign and so many facts. Its worth peoples while to listen to you two!

@breadnaut3087 2 месяца назад

People seem to forget it only takes about 1-2% of current homeowners to sell/foreclose/short sale nationwide to cause a crash. Thats it.

@jacquelynstewart5329 2 месяца назад

Thanks to you both for sharing your knowledge genuinely. Appreciate the transparency and community!

@nicholasscholten4838 2 месяца назад

So true about buying with a mortgage.... We were fortunate enough to buy off our previous home and were able to come up with $5000 to buy this home with cash and so we haven't been exposed to the real estate inflation. We have one property that we sold on an owner contract. With all that, we decided not to purchase the home insurance because of the huge price increase. We are now very responsible on where the fire extinguishers are and how they work!

@monicalee9659 2 месяца назад

Interesting comment and how you positioned yourselves. I like it. Where did you find a home for $5,000.?

@barbieturner3251 2 месяца назад

Brilliant Lady 👏👏👏

@valentingarciaable 2 месяца назад

****🔥***** Travis... When you bring in a guest you need to ask a question quickly and let them talk because you're doing too much talking and we listen to you all the time... (And we enjoy listening to you... however) So go ahead if you want to ask something, then ask it quickly but also don't interrupt them when they are in the middle of explaining something and then you just kind of like go to a different subject so you need to give these people a little bit of leeway because I noticed that you're just talking too much. I'm sorry but I just got to tell you because I want your channel to prosper this is just a friendly bit of information... To make your channel even better... Learn how to ask open-ended questions so that they have to elaborate on subjects and allow them to pursue the avenue that they want to pursue in order to educate the public. Thank you and keep up the good work

@MplsMaven 2 месяца назад

User: berates Real Estate Mindset to talk less. User: writes a whole paragraph repeating them selves 3-4 times. 🤦🏼‍♀️

@kylecoleman1281 2 месяца назад

Ironic for sure

@valentingarciaable 2 месяца назад

@@MplsMaven it's very obvious that a simple minded person may not have the capacity to understand

@marcuskelly5768 2 месяца назад

Lady, you really got it. Quite right. Do the right thing right long enough and you will get there in the end

@ChrisGenXer 2 месяца назад

This was great, Melody is amazing, and has so much insight. Thank you! God Bless!

@bibibachmd9995 2 месяца назад

Excellent. interview! Always great to hear from Melody. BTW I have a home in Eagle County, CO. My property taxes doubled due to a double in valuation. Same with my neighbors. The mill levy did not change much. A lot of these taxes will be wasted. There is no cap here.

@minnesotasalamander5913 2 месяца назад

Thanks Melody, good interview.

@eddiedelrosario9946 2 месяца назад

Thanks Travis and Melody!

@coryroybal1391 2 месяца назад

I lived as a adult in 2008-2014 my house went from 200k to 72k in value. In the 85206 area code. Agents ran their mouths of how you should buy now under a drowning voice. Thank you for advising people. 🤘

@user-ms3ko5gn8e 17 дней назад

I was in the same situation & it took 8 years to break even. People don't realize that house prices definitely drop and put you underwater. Especially the people that pay huge prices & over asking are definitely in for a loss of equity.

@ronpagala7496 2 месяца назад

Sell high Buy higher

@mariedigi 2 месяца назад

Buy the house you can AFFORD and if its not a house--get the condo. 1st. Pay off all consumer debt including student loans if you absolutely can. 2. 6-12 months of emergency savings 3. Save for a home. If you can contribute to your retirement while renting and paying off debt, you're way better off.

@Gcuve 2 месяца назад

Just don’t buy a condo in Florida… new law spreads cost of million-dollar mandated repairs/ upgrades across condo owners

@cameronjenkins5304 2 месяца назад

Awesome collaboration! Travis, you are really getting good at this!

@realestatemindset 2 месяца назад

Thanks man. I've still got a hill to climb. So many little things I do still bother me lol.

@rjc9537 2 месяца назад

Great interview! 💪💪💪

@solarryan9762 2 месяца назад

We are watching 3 houses that are 600k, and the sellers are stuck, paid too much, and days on market skyrocketing. People are happy to lose tens of thousands of dollars on a vehicle while trading it in on a new vehicle but refuse to lose money on a house.

@realestatemindset 2 месяца назад

LOL Many people just do what the TV tells them. Good call.

@kimfxer 2 месяца назад

Thanks mindset for your educational forum on real estare.

@realestatemindset 2 месяца назад

My pleasure Kim. I hope you find value in every video. Don't forget to catch the morning lives.

@2vegans2wheels 2 месяца назад

Brilliant !! Thanks

@psk177 2 месяца назад

I worked in Loss Mitigation at Washington Mutual bank. If ya know, you know.

@SomeUserNameBlahBlah 2 месяца назад

Can you provide details on the current situation?

@sheraspencer 2 месяца назад

Absolutely bonkers!!

@ErnestoAguilar-tk6ho 2 месяца назад

Melody and Travis, great content thank you! Melody's perspective is cold and honest.

@julianna1681 2 месяца назад

Melody, great job ❤. One of my favorite videos

@tonylee3224 2 месяца назад

Great topic on this video

@mikem4432 2 месяца назад

Absolutely Bonkers. Great video

@eliot5220 2 месяца назад

What do you folks expect if you want your houses to be worth a million dollars your taxes will go up to the point you can’t afford it anymore.

@bpb5541 2 месяца назад

That is the plan. However, should you outright own your house. You would be able to comfortably afford the taxes even if they are high. This is really the only way to own your house. Which means people who have mortgages should pay them off as fast as humanly possible. This goes for their cars too. But who the hell has a loan on a car any more? That is stupid just save up and pay cash.

@eliot5220 2 месяца назад

@@bpb5541 👍 correct. That’s why working people should focus a low priced house. I don’t want my house to be worth a million because then the taxes will go up. People should focus on their business or work to make money instead of trying to get rich off their house.

@bpb5541 2 месяца назад

@@eliot5220 thank you. I agree with you. I was always taught the house you live in should never be counted as an asset. A true asset is postive cash flow generating. The house you live in is never this. It might make you money when you sell it, if you do ever sell it. But then again it might not. Why count it. Like you said focus on buisness and things that bring postive and better yet passive income for work that was already done. I think the biggest problem is that folks believe their house is their number one asset ... money making, wealth creating object they have. This is setting folks up for disappointment or worse ruin. Just like those folks that had no buisness buying houses before the GFC happened.

@TimesUp8888 2 месяца назад

😂😂😂 exactly! "Why I don't want to pretend to own a house".... No one in the US owns their house or land, property taxes + insurance alone are higher than rent in a lot of places rn. Not to mention the MAINTENANCE and repairs.

@eliot5220 2 месяца назад

@@TimesUp8888 I have a house and the tax is 600$ year . I don’t have a mortgage so the tax and insurance costs me about $200 a month.

@maverick-zj3jz 2 месяца назад

I hope your correct I didn't have the money in 08 to jump on repos however I'm ready now bring on the foreclosure s

@choncha23 2 месяца назад

I agree with her. It's going to happen in waves. 2026 and 2028 are the years. Those are the years the spike will hit a median levels.

@monicalee9659 2 месяца назад

The foreclosures will still sell high. The bank, the county (taxes) still want their money.

@tonic.9530 2 месяца назад

melody said it perfectly. we are playing out the GFC...well said

@MattSchuster2565 2 месяца назад

Melody has the right mindset!

@bobbydale1938 2 месяца назад

Right on Melody ! ❤

@huseinjasic8319 2 месяца назад

I sure hope so. Bring it on.

@craigp497 2 месяца назад

Great session 👏! Your guest is spot on!!

@pepperonipizza7633 2 месяца назад

Foreclosures are already up 70% in my neighborhood 😅

@HappyPenguin75034 2 месяца назад

Give facts

@user-os3qm3nb2k 2 месяца назад

They said their neighborhood not county or city. You going to fact check their neighborhood?

@sundayrossberg7792 2 месяца назад

You are right. I paid off debt after work rest and love my life.

@marcusdisalvio1804 2 месяца назад

I think personally was going to cause the massive foreclosure wave when it comes to real estate and homes is that a lot of the local counties are exploding with homes being built so they are constantly having to rezone the areas which will cause the taxes and all other bills to increase from HOA dues / insurance / municipalitie / to whatever else they can stick it to you. I think by the end of the year it's going to compound to the point where the market either drops out entirely and the builders are forced to slash the home prices or the increasing of interest rates on top of the inflation is what's going send it over. A lot of people that I know personally are regretting jumping into the market because they felt that after the 5% interest on homes they were in massive FOMO and now their gonna have to make a decision on either living in that area or 100% leaving that state. I live over in Florida and right now the market here is so volatile with the condos and penthouses that it's going to be the anchor that pulls everything down. Smarter to rent since it's cheaper than owning a home and you can calculate your bills to what you need to make in order to make it month to month and save up a little bit on the side

@monicalee9659 2 месяца назад

*Rent costs are extreme $1,200. to $2,000. Plus. It's a mortgage payment to rent. So will see more homelessness. Perhaps that's why counties are raising taxes to support the welfare and city employee costs. Yep, it makes sense to me.* Crazy.

@joejones4296 Месяц назад

We love you guys. Bonkers!

@winniethepoohandeeyore2 2 месяца назад

We were paying less than 1k a year for homeowner's insurance, They tried quoting my over 1400 a year. After I laughed at them, asked them what dr@gs they were on, I raised my deductibles and will be paying 1103 for the year.

@sheilagrace565 2 месяца назад

Excellent!!! I'm moving back to NY! Whoohoo no tax foreclosures. Sarc

@LT-em1vu 2 месяца назад

He is 100% right. Forecloures are growing like crazy. But the scary thing is it's not long term owners! owners within the last 4-10 years of purchasing. Buyers of today are not smart unless your in very good shape.

@sethlira 2 месяца назад

Meoldy is my spirit animal today....so good ❤it....mucho thx...good show Trav....🎉

@realestatemindset 2 месяца назад

She is great. Thank you for watching

@user-un1qv4sn5e 2 месяца назад

I agree I don't want a mortgage either! I will find a way to own a home when it's time. Great show

@eliot5220 2 месяца назад

You can buy a fixer upper. For the first time in my life I bought a house call cash . It’s possible I still can’t believe I did it. I could have fixed it up for 50,000$ but I am doing more. It’s 2 hours away from my existing home but now I’ve proven to myself that I could do it. I would advise you to find a fixer upper. It’s actually better than my current house now that I’ve renovated it

@user-un1qv4sn5e 2 месяца назад

@@eliot5220 love that!!

@TimesUp8888 2 месяца назад

Lmao fixer uppers are literally my worst nightmare re what I'm gonna do with my precious little free time. I know I'm not alone. I would 💯 Always rsther be enjoying my weekend than dealing with the Total Nightmare that is The .Money Pit. Aka "fixer upper"

@ltserge3226 2 месяца назад

Great intro of the guest

@eddieloujones2673 2 месяца назад

Cash out refinance is currently very expensive. Anyone doing so at these rates must be living on the edge. When rates were 2 percent it was basically free money. Not any longer.

@mle3857 2 месяца назад

Great video..

@nyquil762 2 месяца назад

Melody is so awesome. 😊

@TJ-sv3hw 2 месяца назад

The more the government (Fed, State, etc.) trys to prop things up the harder the fall. Just let the market adjust naturally and prices will come down but not cause as much pain for everyone. Both of you are 100% correct.....this is very political.

@bpb5541 2 месяца назад

Exactly we still haven't paid for the GFC and now we have to pay for the largest money printing in history. Should be fun !!

@BarackNumsyums 2 месяца назад

The rich ruleth over the poor, and the borrower is servant to the lender. -Proverbs 22:7

@monicalee9659 2 месяца назад

Great interview.

@buildingbuildercip8292 2 месяца назад

The top 20% will keep the market alive. 58% of all existing homes have a balance on them. Over 2/3rds of them are sitting on a lot of equity. The ones that slip through the cracks will easily be gobbled up by the top 20% of us.

@blakeb1724 2 месяца назад

Fantastic interview

@caradelatorre7710 2 месяца назад

My questions are what are people in the gulf states and east coast going to do when weather makes it impossible to keep your house,bizness or rental properties. If banks will not give people home loams without proof of insurance or proof you can fix the damage yourself.What will happen to the areas economy and the national if everyone in a given state can not get all forms of insurence without unaffordable priminum rates and everyone on the streets. You can not just cram millions of people into outer states without causing massive problems in the new area like food and housing shortages

@realestatemindset 2 месяца назад

As is I don't think any bank will allow you to do it yourself VS home insurance. Insurance and property tax are both skyrocket harshly.

@BCisme111 2 месяца назад

For those of you in the comments saying no crash here everything is going up, you're not looking at the indicators. And you're saying well it didn't happen yet so where is it? These things take years to play out. I bought a house in 2008 and watched for years as the market burned. I had a renter in it who did some damage and I didn't have the money to fix it up so I did a short sale in 2013. It's not going to play out in one year or a few years. It's going to be ugly for a long time.

@shanerogers9386 2 месяца назад

The Ponzi scheme is pathological

@conchobar 2 месяца назад

There are no indicators. Foreclosure rates at 2005 levels. Homeowners are flush with home equity and locked into historically low interest rates. When Prices are high AND interest rates are high, any downward movement of either metric only lures in more buyers.

@shanerogers9386 2 месяца назад

@@conchobar keep whistling by the graveyard .

@BCisme111 2 месяца назад

@@JimFriend-iw3ev and it's going to be more years. It's not going to get any better anytime soon.

@BCisme111 2 месяца назад

@@conchobaris that why mortgage demand is lower than the GFC?

@Bob-cd5pp 2 месяца назад

Hi Travis, long time subscriber here. The way you talk it seams you bought a House did you? Tell Us. We Never recovered from the GFC in 2008 we have just been kicking the can . GREAT Topic thanks and Good Luck . She is right this will be the lost decade...

@markwriter2698 Месяц назад

Melody is my favorite go to for real estate. Mainly because she goes into the shannagins going on in the background and unreported statistics.

@ThisMichaelBrown 2 месяца назад

“A man is rich in proportion to the number of things which he can afford to let alone.” ― Henry David Thoreau, Walden

@bathtubs 2 месяца назад

I'm glad I'm buying my home, but I no longer want rental property. You have to buy at the right time though. I own vacant land in Co. The people voted to raise property taxes. I was going to keep it for my kids or to build on when I retire, but they are turning into Calif. We at least have great weather and beaches. I'm thinking of selling for the right price.

@jessicabixler1658 2 месяца назад

We are pushing 50 and want to settle down. Started a family and a Doctorate late. Plan to stay forever but don't want to settle financially or with the house

@bienvenidoalesna235 2 месяца назад

Rent to save $$$, save, and be patient. Trends are in your direction.

@Clarktherealtor 2 месяца назад

A lot of investors brought in the metro Atlanta GA area and when I do prospecting I seen on my end that these investors been in foreclosure since 2021, 22, 23 and when I reach out they act like everything is ok, even though I know on my end they are in foreclosure. 🤦🏾

@Mike4444x 2 месяца назад

Melody and Travis. Good couple.

@ophidiaparaclete 2 месяца назад

You're going to own nothing and be happy. Once you realize their end game you can see how this barage of attacks are meant to confuse us.

@toinengwyn3935 2 месяца назад

"Timothy Geithner" -- another reminder of the last RE fiasco and bailouts (for the banks). Is there a video covering current investor liquidations (per Melody)?

@flowerlee4727 2 месяца назад

Real estate is due to correct 30%

@donnahall-kumar333 28 дней назад

ALL a part of the formula 😮 👀👂👂✨

@ophidiaparaclete 2 месяца назад

That boom market at zero percent rates was another sort of inversion

@chasejones8302 2 месяца назад

In what universe does high inflation cause borrowers to not be able to pay their mortgage, esp if forclosures are slow to process. This lady makes no sense at all.

@MarkShinnick 2 месяца назад

The universe where lenders have withdrawn and people are losing their jobs.

@harveypaxton1232 2 месяца назад

Another great presentation. As unemployment continues to climb the fore-closures are going to increase. The real estate market is in free fall except maybe in California.

@wallye8713 2 месяца назад

Why should I have to pay for those that choose to live on the beachfront. I shop my homeowners every year and because I take care of my home. Live in a safe area relatively free of crime and natural disasters. My rates are peanuts compared to the numbers of others I’m hearing about in NJ. You want to play you should pay but NOT on my DIME

@larrys4618 2 месяца назад

Your double wide insurance isn't paying for theirs. 😂

@wallye8713 2 месяца назад

@@larrys4618 LOL, Nope cape cod in Central NJ close enough but far enough from beach and mountains to enjoy but not over pay for….

@IlaraSantosLatinaModel 2 месяца назад

So the message is wait at least 5 years for the situation to get to some level of normality. Seems right. I think more like 10 years but who knows. Great video.

@yusaqhwiff2442 2 месяца назад

Since 2020 housing prices have grown 8% year after year. I love watching this channel for the fear mongering. First time home buyers will now have a harder time buying their first homes because of NAR changes. For years you keep talking about a housing crash that has not come in 4 the past 4 years. Renters will have a harder time moving forward

@mg-by7uu 2 месяца назад

This guy just started his channel like a year ago or something. 90% of people can't afford a house so it doesn't matter. That isn't going to change even if nominal prices come down unless they have at least 20% to put down because banks will stop lending. The entire nation will be renters if your theory is correct. And America will be finished because the dollar will be worth *nothing*

@yusaqhwiff2442 2 месяца назад

@@mg-by7uu in some states 60% outright own their homes. It depends where you are but you need to talk to a knowledgeable realtor. You don’t have to take out loans for a down payment. You can get it from your investments like Ira or 401K. You have to be creative but that’s besides my point. What I am saying is you should have bought 4 years ago instead of waiting and waiting for a housing crash. Each person has a unique situation. Family or friends can definately help out because that’s what I did to purchase my home 4 years ago and don’t regret it one bit. Next year it will become more unaffordable. If you are comfortable and have the resources and you are renting why not? Large corporations are not waiting so why should you?

@mg-by7uu 2 месяца назад

@@yusaqhwiff2442 I don't think people are waiting on purpose. The average salary can only afford half of the average house, so they need a roommate to buy. Even if they could buy let's say you bought 4 years ago and your house is worth 40% more. If you sell the house right now the money you get will buy you 40% less stuff because of inflation. It's an illusion. Houses are losing their value, even if nominal prices are going up

@TimesUp8888 2 месяца назад

The decisions I've regretted least in life are the ones where I decided to do the opposite of what everyone else is doing. I finally understand all the reasons I felt nothing but dread and stress at the thought of "owning" a home, mortgage or not.

@lostintranslation9680 2 месяца назад

There’s not a lot of people willing to walk away from equity or low loan rates on their homes. There’s nothing on the market where I am at the rate of supply is less than 1.5 months of inventory.