Or imagine joining after all of the properties have already been purchased, and now you have to convince someone to sell you one and if you don’t then you have to live in your car after the game.
I was born in rural Poland close to Belarus. Till 24 years old I was still using social security to subsidies housing/living in dormitory => our household income was really low for family 2+3 where only my father worked. Now I am living in the NL, almost paid our mortgage here and another in Poland at the age of 36 with 2 small kids. Most of the Dutch people had many many more rounds in Monopoly that we had (9 years now in the NL) and we made it easily and I know a lot of people who made it as well.
@@DamonCassidy I'm not saying I'd do this, but eventually something drastic will happen when an entire generation of people snaps. Either Governments will do something like force new homes to be built for the NIMBY areas... or violence.
@@kalef1234 Sometimes the medicine is not pleasant. But it is necessary. It wouldn’t have been so painful if we didn’t let it get this bad in the first place…
I've been locked out of home ownership for so long, that when my parents got Alzheimer's, I decided to stay and take care of them and just continue paying off their mortgage.
Can't stress this enough. I knew someone who took care of an elderly parent with dementia and did all the work. Turns out the lazy asshole brother got everything because the parent thought they "needed it more". Not saying anyone should refuse to care for a parent unless they get the house, but make sure you know what the whole situation is before getting into it. Sucks to be told to move out for your merh addict brother after you just lost the parent he abandoned.
Blackrock, good old fashion Greed. The housing crisis is just another iteration of a collectivization policy. I personally know ppl who've tried looking for a place for AT LEAST 5 years. To no avail.
It’s an absolute mess! The fact that it’s projected to increase to 40% by 2030 really feels like we’re heading into that “you’ll own nothing and be happy”
@@DamonCassidy Exactly right. Further, we can't have the working & middle classes accumulating wealth. Gawd forbid. This really does wreak of collectivization. The Empire is crumbling & the rich are in a "death roll"
My husband and I were trying for over five years to get a home. It was a rough time and we were denied repeatedly. The only reason we got our humble double wide manufactured home on acreage is that we got lucky and bought it from a close family friend on owner contract. If it weren’t for that stroke of luck I bet we’d be on year seven of trying and failing.
I spoke to many 30-40 somethings (UK, and here in Europe) who gave up already, they will never be able to buy their own homes and they accepted that they will be renters for the rest of their lives. This is not just in America. This is a "global" trend and this is being done on purpose. People would need to wake up before its too late! But I see the opposite. People accept this societal "scam" ...
I own an apartment building that we built in 1985 for 235k. My insurance company tells me that the replacement cost is $2M. That is over 8 fold increase. On the other hand the investment appreciation is &400k to $2.5m. Thats 6.25 times. So construction costs are rising faster than raw appreciation and that will not be good for future supply and housing costs both rent and purchase. The rents I charge are quite a but below market but I make decent cash flow because I didn’t have to pay $2m to build and finance this building.
I helped my uncle build a small apartment complex many years ago it was amazing what it sold for in late 90s vs what it cost to build early 70s. Everytime an owner sells an apartment complex rent will go way up for new owner to make any money. For a long time inflation an costs was not an issue. Sure is now last 25 years compared to previous 50
The fact that you are a landlord means you're part of the problem. Because yourself hoarding those apartments increases the price of the fewer apartments that are available to be bought. Landlords should be abolished, houses are not supposed to be investments, they are supposed to be a roof for people to live under and nothing more.
@@NankitaBRDid you miss the fact that he built the damn things. If he weren't a landlord the homes wouldn't exist. Building a dwelling to rent out is different to taking existing stock
@@NankitaBRThank you for the comment. Yes in principle it would be nice if housing and while we are at it, healthcare and most importantly food are also human rights. The reason they can’t be is because to provide these rights requires the labor of other humans, consume resources and requires technology. How do you pay and or compensate all the people involved to provide you with a right where you expect to have it for free or you decide what you want to pay. Housing seems to get a bad rap for people making money off others but it is no different in the food and healthcare industries also. The money big pharma makes and the salaries of doctors are insane also and big food is also raking in the bucks. I guess they have better public relations. What really blew my mind was the fact that the replacement cost for my building over the last 40 years has gone up faster than the appreciation rate in real estate. My place is in Los Angeles area which is a strong market. I fought the insurance company and the insurance company won (sung to the tune of I fought the law). Nevertheless this is not good for low cost housing in the future.
I bought my first house at the beginning of the month. Single, no kids, mid twenties. Worked my way up and saved up enough for a down payment and got a 2000+ sq foot house with 3 acres in the hills close to the KY River. I finally made it boys.
As a young millennial with a solid living and job, it's ridiculous what has happened in real estate. I never thought even making over 100k it would be so expensive to buy a house and to have a hard time finding them under 500k within 30 minutes of my job. People lost their minds during the pandemic and flooded my area so bad the houses doubled in a 4 period and delusional enough to think it's still worth the insane price with interest rates where they are. I want to know what percent of household can truly afford a 5-8k a month mortgage and where they're finding them to willingly move to a state with nothing any more special than the others, no views, lakes or oceans and the mountains are all hours away. But it is correcting and slow moving for them to start dropping prices finally.
I think that we must understand that older people are richer than younger people. The elderly will want prices to go up because they own a home or two. The younger people want prices and int. Rates to be lower. They are at an impossible. The older people view homes as an investment because of how they grew up. While younger people view it as a necessity and a cushion for when something financially bad happens
I agree. I think the only way this gets fixed is to provide as much knowledge as possible in a well articulated manner to start having discussions to educate what is actually happening. I am still hopeful a shift will begin to happen
Mom and pop HELOC house flippers with Fannie Mae low interest loans did this. Their are 148 million family homes in the US(Case-Shiller), only 9% are corpo investment buys, blame MoM and Pop.
@keywestalert6329 older people are able to get away with a lot of this because they spent much of their time telling younger people not to vote because it doesn't make a difference Imagine telling other players in a game of monopoly not to do anything and be a passive agent while actively engaging yourself in the game yourself
Honestly I want to purchase a home here pretty soon but with out any knowledge or the questions I sought out I might of never even seen it as a possibility. Im young and I wanna just make the best decision for my future. The real world just feels like a game with all the cards stacked against you. Especially when you start with nothing. No knowledge, no resources no money.
Do not believe what the banks say you can afford. They will always try to sell you more than you can afford because of how they are incentivized 11:39 . Do save up 20% down payment first to avoid paying PMI. Do not get a variable rate mortgage. Do read all the documents and hire an attorney to also read them. Owning a home is very expensive. Buyer beware.
Economic Ninja and Reventure Capital have youtube channels that cover many of the pitfalls of home buying. It's worth watching. Nobody should be buying right now at these rates and prices.
I believe what was shared below is great advice. I would also mention that you will spend drastically more on the inside of your home than you would ever imagine. I personally chose to prioritize staying in an affordable apartment and waiting a bit to see what happens
The House flipping trend is damaging the market too. Those investors are buying up all the affordable homes from families that just want to buy a house to live in.
Thank you for this well presented explanation. I relocated at 65 thinking I would buy and am horrified at prices. Should have stayed put or rented out my former home. Fortunately I am still able to work and am plugging away a a new job.
Boomers had a much more difficult time buying homes. Rates were 17% in the early 80s. But I know it’s convenient for millennials to blame everything on boomers.
@@kensiblonde4203Great except house prices were far lower compared to salaries. Also factor in faster wage growth and inflation and that 17% was far more affordable than 7% now. But it’s very convenient for boomers to ignore this and blame all on Millennials hankering for avocado toast and lattes :)
@@Krabsyne That's actually not true. Home prices were lower but so were salaries. There are plenty of articles on the myth of boomers having an easy time buying homes. Google is your friend.
@@DamonCassidy That's not a smile. It's a shit eating grin. She eats shit, and she is a gatekeeper who makes others believe that eating shit is a reward they can only dream of having. This is the loyalist class, and often the armed hand of the ruling class.
And like she didn't even go for the easy to villainize addicts and ruffians and stuff. She went after the struggling single moms. That to me was the biggest giveaway that she just hates poor people.
Real estate is all local. There will definitely be a housing crash in some areas. Wherever there is high unemployment and/or high jumps in insurance costs, there will definitely be a decline in prices, as people are forced to put their houses up for sale or are foreclosed upon. Not to mention if there are a large amount of institutional investors, poor / negative returns could force selling as well. Our unemployment rate is headed up, and the jobs we are gaining are all part time, the US lost 1 million full time jobs in the last year. Things don't look particularly good in my opinion.
Totally agree with ya, they got another round of papering over the problems left in the tank tho, they’ll lower the rates and print or loan new money however you wanna look at that, and we’ll have a few more years of BS prosperity for some and inflation for the rest. Then I think SHTF and we see some real life asset depreciation. Therese just so much unrealized losses out there on the books, it’s gonna take time for them to be forced to become realized losses. Then prices go down
Get the banks 🏦 out of the equation so prices will be based on what consumers actually earn and save instead of how much debt they can get themselves in. Also, band or limit institutions from purchasing residential properties. 😳
Agreed or make down payments higher or something. I’ve been disgusted recently as a fiscally conservative people, see people who are broke compared to me do what based on loads of cards and loans AND the media has the nerve to call them highly qualified buyer!
I admire and commend your positivity. I remember when I was as young as you; always trying to see the positive side of things and trying to convince others to communicate to the betterment of society. Then, decades passed, and I learned more about the fundamental nature of humanity itself. The main purpose of communicating with words and debating is to prevent violence. Unfortunately, we live in a time in which words have very little meaning anymore, and attention spans have drastically reduced to what I refer to as the 10/10 rule; most people have an attention span limit of 10 words or 10 seconds... whichever comes first. As a result, eloquent, nuanced presentations like you have made in this video will only reach a very small percentage of the population. The ultimate result for society as a whole is mass misery and violence. Better get ready. The future will not be nice for nice people.
I think you forgot to mention that builders are holding or delaying supplies, in other words manipulating the market, but they're able to for long now! Good video though
I’m a millennial got into construction in 2008. the amount of hate for the millennials from the boomers was crazy. I've had boomers talk shit about millennials then promptly ask me for help with the computer. Yes it's that stupid. We need to embrace each other's skills and knowledge. the amount of hate for gen z seems way worse. People's assumptions based on zero information is bonkers. I'm sorry you experienced that. Thank you for another great video. I only assumed you could be older because of how well spoken and put together you are.
I am hopeful what is happening in society will force more people to come together and support each other. I really appreciate your kind words. I so am glad you’ve been enjoying it. Thank you for reaching out, I hope all is well🤍
$2039 a month for a high-end single-family home rental only exists in a tiny itty bitty little town in middle America not an actual metro where everybody has been shoved into. That would be a one bedroom or a studio in the Phoenix metro for the last several years, unless you can get it just a little bit less.
I find it so crazy that some politicians have tried to cut down the rent raising threshold against landlords, and it has been shot down every time. Like...we need help with rent!
In 1997 I bought my first home and paid 42% less than what the previous owner had paid and I sold it in 2004 for a nice profit. I rented until 2011 and bought my second home for again 40% discount to what the previous owner had paid. I paid cash for it and I am debt free. This time I am not selling because I can't afford to buy something better because if I sell my home for 1.5M right now I couldn't afford to move up and I love where I am in San Diego. I am seeing sellers struggling to sell now. Prices will go down but it all depends on the Fed and how much they are willing to print worthless dollars and drive up prices even more.
What I've noticed in my county is when developers put in change of zoning requests for new multi family housing units, the county board loves to say they approve it because of the lack of affordable housing. But then the developers build "luxury" versions of townhomes, duplexes, etc and end up selling outside of the affordable housing price range anyway!
Great video, and in my humble opinion, if there is a housing crash it would be led by Unaffordability. I believe that most of us would love to own a home of our own, however, these high prices stop most of us. If no one is buying then, again in my opinion, prices have to fall
Living with roommates, I see a nice 3 shower house for under $550k outside of DC. Not a bad neighborhood. Fully renovated. 6 people can easily share this house. $85k each. Then split property taxes utilities groceries and unlimited bus pass yearly per person. 85k today and $8k each yearly. Easy living. At least livable until reaching wealthy class. Can get $85k out of the local job market easily, by getting a couple full-time jobs. Have groceries delivered weekly for all 6 people. Plenty of housing options. But people want to be picky while poor.
So glad that you enjoyed it! I agree, at some point prices will have to go down. The only thing that feels a little like 2008 is all the interviews I saw where no one believed house prices would ever come down. I feel that in a lot of ways many people believe for the most part this is our new normal which I do not believe. At some point just like in stocks it will have to balance itself out! Thank you for reaching out!
There won’t be any crash due to unaffordability. There has to be a massive and sudden increase of supply for prices to go down significantly. Think about it… almost nobody that has 2% mortgage in a nice house who is paying $1500/month is going to sell it just to have to rent an apartment for $2000 or have to get into a $2800 mortgage. It would make no sense even if they got laid off from their jobs.
When you cant buy or even rent, you build your own. Its not easy, but doable. Get a small plot well outside city limits and build a house for yourself.
Similar story: after three decades of putting roofs over other people's heads and upgrading existing homes (hardly any of either being 'owned' by anyone other than a bank), ten years ago I was faced with either being homeless (long story), or creating my own 'affordable housing' initiatives out of thin air. So me being me, someone who has never agreed to join the obedient ranks of the debt-enslaved, I found an old 1965 single-wide whose owner just wanted it off his property, paid it off in a year and a half with no bank ever involved, and have since updated it with all-new wiring and plumbing, a magnificent all-new kitchen made almost entirely out of recycled goods, plus a great many other improvements. All this was achieved almost entirely by my own labor and designs, and I never borrowed a penny for any of it. Now I am in the bizarre position of being the poorest person in town by income standards, and the only person I know who owns the roof over his own head free and clear.
I have just finished watching all of your videos and I can't express how grateful I am for such great content!!! I have left you a message on that one about your dear grandpa. By the way, I am from Brazil and the average apartment size for two people is 40 square meters and a studio for a single person is 32 square meters. I think in the US they are much bigger, aren't they?
This comment made me so happy to read! Thank you so much for sharing this with me! Yes! It appears to be that way, it looks like U.S. houses are 48% bigger than in Brazil and in most cities a small apartment is about the size of a 1950s home which is wild. Thank you again for sharing this!🤍
I am so thankful I brought my home 8 years ago as a Gen Xer at 3.5%. I seriously dodged a bullet at current rates and prices. I could easily sell at a huge profit, with the rates and pricing makes it not a good idea.
Incredible!! So glad you were able to do so! It’s unreal how many people are sitting in great equity unable to do anything about it because rates are so high!
@@DamonCassidy Thanks I appreciate it. Yes, exactly! I feel trapped, because now I make almost twice the salary compared to when I first purchased my home, along with a better credit score, but upgrading is a pipe dream right now. Not only the rates, insurance and costs of homes, but property taxes has entered the chat. Upward mobility has virtually been erased.
Listen, homes are at a all time high, look at a graph, prices are high, that means as a universal law, the prices have to come down or at the very least stabilize for many many years. It’s a bad investment to buy a house at this time.
I agree, I think we unfortunately have more room to go up. Not that It should but homes in Austin are flying like hotcakes in an area I know for a fact is not worth 600k.
I'd bought my apartment 2 years before the 2008 housing crash. I'd thought maybe I could pick up another apartment cheaply. Nope! I'm in Brooklyn and except for areas that were far overpriced - "up and coming" neighborhoods that were poor - prices didn't budge. A lot of that was because of co-op stock. People weren't getting subprime loans for co-ops. People who buy co-ops have to prove they can afford them. So if you're hoping for a crash thinking you will get into the desired areas... good luck with that.
I find it ironic that we have an entire video that talks about how hard it is to afford a home that includes a clip (the woman at the 7 minute mark) that villainizes the people that want to protect the investment that they worked and saved for their entire life. Most homeowners are not multi-millionaires that had stuff handed to them. They are just normal people that worked hard for what they have.
How is that ironic? That’s the whole point… there isn’t enough supply because people don’t want affordable housing near them. The only irony is the people who worked hard to save to buy a house and now they are complaining about affordable housing being near them for other people that didn’t have the same opportunities.
@@ROVA00 - How would you like to work and save for 20 years only to have someone that hasn't put in that effort come in and erode the value of your hard-earned home by 25% to 50%? There is no such thing as affordable housing. It is either market-priced, or subsidized.
@@chiplangowski3298I bought my house to live in, not to resell it. If I have the 4 bedroom house I want for my family and I’m paying $1300/month for it, why do I care of its resale value? We all know it’s going up in the long term anyway, as all houses do. The mindset of “I worked hard for mine so fk everyone else” is the exact reason the USA is where it is today. It’s all about “me, me, me” without any concern about the future consequences. Oh, and where tf do you get the idea that building affordable housing near you neighborhood is going to drop the value of your home by 40% - 50%? And where tf do you get the idea that the people needing affordable housing didn’t work hard or struggle? What an arrogant thing to say lol
Just because a family has a house , dose not mean they are not barely living within their needs . Class struggles are on many levels . People that take out second mortgages, or use credit , to solve unpayable debt are insane right now . This is the next part of the lower middle class that is about to default , and go into foreclosure. Medical Debts and Other necessities have grown in cost so it makes you borrow to pay off a Non luxury expense. This is where things like this quickly destroy financial stability.
Inventory is exploding in all the popular states and cities. There are 1000s of houses flooding the market all at the same time. I give it 2 years max befor a crash happens
I think in certain ways you’re right. I see the statistics saying Austin is building massive amounts of new homes and the reality is they are indeed building a large portion of apartment units but rent is still outrageous at least as of now and for single family homes I can’t find where that is happening. A lot of hold homes have been torn down and rebuilt a 800k home so I’m not sure how that is calculated but I think the supply demand in Austin is a bit skewed. Thank you for sharing your perspective!
There won’t be a crash unless we suddenly have a huge amount of housing supply emerge. Prices in Austin might have fallen a bit but they’re still way unaffordable for normal people. You need to convince millions of people who bought homes with a 2 - 3% mortgage and are paying $1500 month for their 4 bedroom house, to sell it so they can buy a more expensive home at a 7% interest and pay $3400 per month.
After my divorce 3 years ago. I converted a school bus to an RV. I did the numbers and found I would be paying a half of the rent at a trailer park. I took my bus on a trip and visited my family for vacation at one of these new luxury neighborhoods. The Nibly neighbors would not leave me alone that week. Kid you not, I had 12 people threatening to call the police, 2 death threats and was followed across town 20 miles to receive one. I called the police myself and filed an open harassment case to keep records of these people going Karen on me everyday. The Nibly neighbors then instead keyed my motorcycle, my mom, brother, sister-in-law, and girlfriend's cars all for reporting them when they threatened to drive me out of the neighborhood for visiting family. Watch out for the Niblys! The commitment to "protect" their homes is scary irrational.
To most people a converted school bus looks really ghetto. When I bought my place, I bought in a place where hopefully there are no karens. In fact my buddy down the road has a salvage yard and he lives in a bus behind the garage building
Hi Mr. Cassidy, I'm not much interested in this topic myself (I also do not live in the US), but I've seen that Dan of the RU-vid channel I Allegedly talks about it quite regularly, so I mention it in case it might interest you. (He does walk-and-talk videos.) Thanking you for your channel and wishing you all the best!
Michael Bordenaro does a lot of really great walk and talk videos I feel are easy to digest and informative! I really appreciate all of your support and for sharing information with me! It has been very helpful! I hope you are doing well🤍
@@DamonCassidy Thank you Mr. Cassidy, I intend to pass on more pieces of information in case it might interest you. Thank you for the tip on Michael Bordenaro's videos, I'll take a look!
I really love your fresh insights as a gen Z and going through the GFC after I bought my second home it was crazy seeing millennials so upset over no jobs and high debt from student loans that we all just knew would pay off but didn't. The student loan was their home purchase. I had 10k in student loans, and it took me a decade to pay it off with my lack of knowledge about loans. But great video, I enjoyed it, and I'll sub. I personally like my kids. I'd love to have them with me to live communially. I just don't have a basement.
The good news is a rent price war is unfolding. Multi-unit housing developments are selling at a loss. They priced out any potential tenants and sit empty losing money until they sell to someone who can buy it at a price that it has positive cash flow. It's a spillover of the commercial real estate crash(same investors/banks). This drives apartment rents down. People will move out of single family home rentals into the cheaper apartments. Price war ensues and landlords who payed too much for their house for rent will lose money and be forced to sell.
I absolutely agree. Seeing this in my area of Austin where there used to be 2 apartment complexes and within 2 years it’s already at 4 with more coming. Thank you for sharing this! Hope all is well!
You could have all of the supply in the world, but as long as investors are allowed to hoard that supply (just as your "free market" would allow) you will still have affordability problems. The only route back to affordable housing is to purge our country of the Feudalism that has paved the way for real estate investors and the land & housing inflation they've brought about. This alone would bring us back into alignment with the production-based Capitalism the founders envisioned.
The cause of the problem is government meddling, government regulations, government development charges, high taxes, too many taxes. Getting the idea? If you can’t afford a home, blame your governments, who are so voracious and interventionist they make life less affordable for everyone while harming businesses throughout the economy. However, those hurt the most are low income people because they have less capacity to absorb the extreme increases in the cost of living and the cost of doing business.
@@davidguarin358 Everyone is "greedy." We all want to get the most for waht we sell and pay the least for what we buy. That's human nature, and it's good. It's how humans maximize value. Corporations can't force you to buy their products, but governments use force to confiscate your wealth. Also, when a coporation buys properties, they rent them out, so corporations buying properties does not cause housing shortages. Investors bidding up properties is a one source of demand, which can drive up prices, but the real problemis not the demand, it's the supply. And the lack of supply is clearly caused by government making it infeasible to built more homes for the right market segments.
Long time no see, as a Millennial lol I am going to admit that there's no way we're gonna see a crash, at most I see prices stabilizing for a few years I do agree with one thing that you're trying to say where homes should be places to live in and not investments but I admit that it is a very good savings account. In the long run there's a chance stocks could outperform houses because historically they do barely keep up with inflation so investment....sorta
So great to hear from you! Sorry for such a late response! Yes absolutely agree with what you’re saying! I also agree, not going to crash but this euphoria we were seeing was definitely concerning also
@@DamonCassidy Once I used to argue with my friends who used to say Americans are racist just as their government because they are the ones who voted for these people but I used to say no, governments are bad , people are nice, turns out , I was very VERY wrong.
Oh please😒 it does not actually cost that much to build a house. When you get your supplies and you actually do it not that expensive. Of course, and they want to also ensure you at premiums on the inflated prices that you are telling others that it’s so expensive to build a house, it is not
Gen Z should have been out of the there parents house at 18 and in a apartment of there own even if they needed roommates to make it work Yes that is starting at the bottom which means there's no way to go but up. They are not doing that because they don't want to start at the bottom and learn the lessons that they need to move forward. They are trying to Skip the bottom and start in half way up in a 200 or 400 thousand dollar house which is insane nobody starts in a 400,000 house that's where you end up after 2 or 3 home sales and plenty of equity.
I agree in certain ways. I think the issue stems from always hearing apartments are a waste of money and to buy a home first. I heard it all the time. I ended up finding an apartment and going that route but it is still not looked at as if I did the “right” thing. I believe it boils down to a lot more cultural and societal pressures than simply gen z dosnt want to move out
@@DamonCassidy I am 59 years old now and believe me I know how hard it is to get the things you want in life. Keep your attitude good and be grateful for what you have. Happiness is not getting what you want, it is wanting what you have.
The problem with this video is that it regurgitates everything wrong with urbanists, who are (literally) wealthier individuals larping as poor people and wanting rural living in urban environments. No, really, that's all they want. And then they want 'walkable" but without acknowledging that not everyone wants to, or cares to, walk 24/7. Which kind of goes back to the whole "they work from home, work as content creators, uber-eats things, and have enough money to just move to an entirely new country without any question". As far as realism goes; The real reason why people can't afford a home is because they're looking in areas where the housing prices ballooned due to the private option not being regulated, and there is no public option to force regulation. Meanwhile, numerous places across the United States still have "affordable housing", everyone just looks at the bigger areas and say "wow can't believe how expensive it is" while they pay their 30-year mortgage ballooning the cost of their house even further when it comes to reselling. 1) Regulate landlord properties & LLC's/investment realestate/property management housing to only be capable of owning a certain threshold (say 6) properties in each State (period). In addition to #2, this forces them to focus more on density (going up) rather than quantity. 2) A required private option, controlled by each city, is a resolve for rent control, which implies that there is always "more" public housing than there is private, in which case, the housing costs are equal to the cost of property management + taxes, rather than "for profit". Thus permitting, that the owners charging $1800/month" to 500 people, when the property is $500,000 and the taxes are $10,000, aren't just paying them off in less than 1 month and profiting off the rest. The "private" option would then come with basic amenities to offset the cost and advantage of living in them, verses the public option. This also doubles as a "rent control", since it forces the private owner to be within reason of the public housing applied, thus permits that they not only have to 'keep up on property management', but also parol and confirm that there isn't anything suspicious going on in their apartments. Yes, this means that "that illegal activity" would be forced out of each public and private apartment, since this determines that the tenants will, very likely, be kicked out if they do it, and probably reported to #3's solution for homelessness. 3 Introduction) I don't care about the false NIMBY nonsense, people think "NIMBY" when they know the concept they're boycotting against is typically a net negative. And I agree with them. You don't need to make a private solution for homelessness when the capital owner is probably going to load up their "homeless housing" with elaborate expensive gyms, spa stays, and various amenities to rack up the money they get from the Government so they can simply get "free money" until they "can't house homeless anymore", and turn it into a luxury flat -- Because it's common sense. No regulation on capitalism = free market capitalism (neoliberalism). Besides, the homeless aren't homeless because they "can't afford a job". They're homeless because they have drug addictions, mental health issues, and various issues across the board that caused their homelessness. 3) Fixing the Healthcare issue in the United States, fixing the Policing issue in the United States (creating health advisors and those for addictions and drug use), and removing various script-written drugs from the shelves for basic "human issues" like "attention spans" is going to resolve this. For-Profit Doctors need to stop writing drug scripts for meth because the 24 year old has no idea how to cope with the loss of a friend, and they need offer counseling and therapy free of charge. The 38 year old grieving over the death of their parents needs to be sent to a support group, not a pharmacy. The "place to drown your sorrows" needs to be a friend and family, not the local bar. This mentality in the United States lead to what we have today -- Homelessness, a fear of "drugs" and "mexico", and a fear of useless things no one should be afraid of. #1 - #3, we fixed the temporary housing market (rentals) by regulating capitalism, we created a public option that regulates rent costs for consumers, and we resolved homelessness, depression, and various mental health issues across the Country by focusing on "people" rather than "gaining wealth". 4). All those properties that are seized by the cities, towns, villages, etc through eminent domain after removing parcel's that private entities didn't want are now up for auction. 2/3rds the United States is back on the market, but this time at the cost of tax on the property. This property is thus regulated by each country/district to be setup for each expected avenue of development. Certain areas need to be determined to be single-family housing, others "can be" mixed use zoning, but there needs to be stipulations & hard regulations on this: Owner of parcel must live in parcel; These can only be "owner occupied". Reason: Niagara Falls, NY, exists as proof as to why mixed-use can be heavily detrimental if used improperly. Numerous apartments are owned by individuals in far off cities, even states (some even different countries) and are directly next to businesses. Those businesses eventually sold to other investors, who then were bought by a singular investor (Niagara Redevelopment LLC). At the end of the lifecycle of "good people", is the truth of this capitalist agenda -- You simply utilize it as a tax haven, or lessen the burden of your overly profiting business. No one wants to live in the apartment above Bugerking, why offer Bugerking the capability of doing this, when this is prime real-estate for people to live, or even further, for people to "make their own business" (by living above it)? 5) Force builders through code & regulation, who build custom housing or simply "development housing in gated communities", to make 1,000sqft housing. A 2,400sqft house going for $400,000 can be cut 60% and be made to 1,000sqft and cost exactly $160,000. In addition, they could legitimately make the house out of more affordable materials, like Pink-Panther insulation (Over rockwool), Oak hardwood Flooring (over LVP) and 1/2" drywall (over 7/8ths drywall). Thus, permitting that these same builders making "Sunny Day Estates", on the south side of whatever city; Can also make "Bright Night Estates", which is walking distance from the city. So now we established all of the following: - Fixing homelessness because healthcare is why this is the way it is. - Fixing private entity realestate investment for current parcel ownership, thus permitting public options to exist which regulate and contain rent as a controlled public factor, not letting it turn 'out of control' by the 'free-market'. - Fixing LLC's and Investment within Real-Estate, which permits if you "want profit", you're either going to have to do it in benefit of the people, rather than the profiteering individuals. - Providing the capabilities for new businesses to bloom with the real-estate that was now seized, setting regulatory practices to which owner-occupied must live in the mixed-use housing, thus permitting that "Sure, you can have the store with a rental above it, you must also live in this rental property as your primary address of residence". - Fixing New Build Homes to provide options for not just the Lower-Upper class, but also the lower-middle class and above. But you won't see an urbanist asking for leftist ideals, since the broader majority of urbanists are centralists leaning right-wing in liberalism economics, of which only want to larp as poor, rather than helping the poor. Of course, the guys with 1,000 dollar bikes, totally remote jobs, and those who order thousands a month online will want a "purely walkable" area, while wanting a rural America style living (where everyone is interconnected somehow) because they never really wanted to live in these areas. They just wanted to larp. The majority of them grew up wealthy, they never understood the struggles of walking even 3 blocks with groceries in your hands going up 5 floors because your apartment doesn't have elevators, or remotely lived in a van due to not being able to afford an apartment. They could always have afforded one, they just wanted "better quality of living", in their minds. I'd argue most urbanists are typically right-wing larping as left-wing in order to make the right-wing more scared. Hell, even remotely saying "I want to the save the environment" is going to scare a crazy person, but then you double it with "cars emit carbon which is harmful" is crazy enough, but they go a step further and say "remove the car and make it hard to use"...rather than the basic alternative everyone else wants: Get rid of fossil fuel and the powers that be that keep the United States in OPEC, rather than considering alternative fuel sources that aren't powered by natural gas, gasoline, crude oil etc.
As far as my personal issues with mortgages and home costs outside of fixing these major solutions -- The major problem with this is the mortgage. We're told that "interest rates are the killer", while going for the higher year number and lower interest rate. Here's a real world example to explain this. Spans: 15 year mortgage, 20 year mortgage, 30 year mortgage. I live in NYS, so we're going to use this as a base example. Cost: 200,000. Let's say 20,000 down. 15 year: interest = 6.7% | Total cost after 15 years: $285,813.26 20 year; interest = 74% | Total cost after 20 years: $345,379.52 30 year; interest = 7.4% | Total cost after 30 years: $448,662.11 Consider the average YOY Inflation should be 2%. A $200,000 today house should be, roughly 280,000 in 15 years, and $370,000 in 30 years. Not $450,000. Not to mention many lenders actually gravitate toward 30-year mortgages, not because they help the consumer -- but because it generates more profit for the lender. there's a greater chance of the house not being paid in the total amount by when it's sold, so the lender will obtain the total amount for the house, despite the house selling for less than the asking price, plus the practice of investors "acquiring the house for total price", paying it off, and trying to sell for the over the loan amount (Which happens often in flips). And don't get me started on 30-year mortgages for rental property, of which the rental property balloons in cost for the tenants due to the cost of the mortgage being extreme. All of which is another larger problem with the housing market in general, imho. Little, to no, regulation. We need to force checks & balances on capitalism, rather than letting the free market exist. Neoliberalism has destroyed our economy, and instead of people owning up to it -- they just sideline the conversation to pressure more neoliberalism in a different fashion.
Not that I feel he is a good candidate, but I think if Trump wins the election the economy will see a boom because of relaxed regulations from the government. Regardless of one's feelings about either major candidate, but Biden and his policies have certainly been a drag on the economy. Neither are worthy of being president but Trump's policies on the economy were significantly better.
Lost me at the “NIMBY” part nice try though with the valley girl. Section 8 here = pot smoke everywhere parties five nights a week drag racing horrible music blasting all of the time car vandalism and getting harassed at every local store for money Pretending it doesn’t exist doesn’t make it go away it makes you seem out of touch
Good video. Housing isn't expensive, you're just poor. Real estate prices in gold tell a different story. Demand will drop with generational turnover. Look at Japan and Southern Europe as analogues.
The issue is the total lack of purchasing power with the dollar. Home prices are insanely expensive because our dollar is worth so much less. Hope all is well, good to hear from you again!
There’s plenty of homes under $200k even under $100k and rent for under $1300. Y’all just love overspending and doom looping people 😂 y’all have fun. We’re fine over here.
I seem to notice there is affordability there and many places but also have come to realize that the unemployment of younger people and drug problems have created conditions that never before existed on this scale so u need to almost build a fortress and alligator filled moat to keep back people trying to rob u for next fix as always it's all about location and even then that's changing lightening fast - sad and scary
The average home price in Flint, MI is just a bit over $60k. There are affordable houses all over the country. The problem is that there are no jobs in those areas and people simply don't want to live there.
I think the real estate markets are unique to the local area; I am trying to buy a specific type of house in a desirable area for cash. No luck! The minute an acceptable one comes on the market, it is gone. We may end up going to the “old days” when properties are passed down through families.. That is how it is done in my husband’s native country.
@DamonCassidy I'm 26 years old. I ran for state house representative in my state as a Republican representative. I promoted the standard Republican talking points of less regulation and improving the economy, but the thing that I personally was concerned about was the growing number of young people who grew up in single-parent families and the difficulty that these people had starting off in life (of which I am one). What I noticed was that the older people who came from the countryside and tended to be poorer in their upbringing were very compassionate towards the blight of young people, but when it came to urban boomers in particular, there was no compassion for their fellow man. In fact, I remember one lady who told me that the fact that are young people who aren't getting head in life was their problem and none of her concern I failed to get the endorsement, and as a result, I didn't run in the general election, in large part because "I lacked experience.". There are young people out there who are trying to make a change, but the boomer glass ceiling is actively preventing anybody who doesn't have 40 years of experience from being elected.
@DamonCassidy I'm 26 years old. I ran for state house representative in my state as a Republican representative. I promoted the standard Republican talking points of less regulation and improving the economy, but the thing that I personally was concerned about was the growing number of young people who grew up in single-parent families and the difficulty that these people had starting off in life (of which I am one). What I noticed was that the older people who came from the countryside and tended to be poorer in their upbringing were very compassionate towards the blight of young people, but when it came to urban boomers in particular, there was no compassion for their fellow man. In fact, I remember one lady who told me that the fact that there are young people who aren't getting head in life was their problem and none of her concern I failed to get the endorsement, and as a result, I didn't run in the general election, in large part because "I lacked experience.". There are young people out there who are trying to make a change, but the boomer glass ceiling is actively preventing anybody who doesn't have 40 years of experience from being elected.
So you like what she said.. I am not surprised .. before I thought only American governments are evil, but now I know that the peope of America are the ones who put thosee officials in place.
Oh please😒 it does not actually cost that much to build a house. When you get your supplies and you actually do it not that expensive. Of course, and they want to also ensure you at premiums on the inflated prices that you are telling others that it’s so expensive to build a house, it is not
