10% MORTGAGE RATES COMING TO A LENDER NEAR YOU!

People are finally starting to wake up and understand that interest rates are going to be higher for longer and that inflation is not going away. So much so that consumers are expecting 30 year mortgage rates to rise to 9.7% in the next three years. If this economy was so great, why would that be the case?
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

People Are Driving Their Cars UNTIL THE WHEELS FALL OFF! kzbin.info/www/bejne/qZOqpal3qthnhbM

[@winnerwinnerchickendinner8809]

I am with my 4runner 1996

[@user-xt7jh2hw1d]

I have a 20yr pickup that is flawless. I have it because I like it. And cheaper too.

[@Neis757]

Bet that !

[@dannymcnamara2554]

@@user-xt7jh2hw1dIs your truck an F150?Mine is a 2014,I will drive it forever!!👍🏼🇨🇦🇺🇸

[@karendevine2827]

My car is 19 yrs old. Chevy rules!

[@nicolasbenson009]

Mortgage rates are currently at an all time high since 2000(24 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market

[@berniceburgos-]

The stock market is no different, to maintain profit, you need to have some in-depth knowledge on the market

[@BridgetMiller-]

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you’ll need to be consistent and restructure your portfolio frequently.

[@tatianastarcic]

in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.

[@Michaelparker12]

my partner’s been considering going the same route, could you share more info please on the advisor that guides you.

[@tatianastarcic]

My CFA ’Melissa Terri Swayne’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@adanblas2451]

I'm going to move to Ukraine to hopefully get some of that money back

[@chemcorps272]

When that war ends theres going to be a lot of land and single women available

[@AssetAddict]

Israel is the right place for that. They get by far the most money.

[@steviecoleman9260]

Truth!

[@janetairlines1351]

​​@@2007Yariscan i claim zelensky as a dependent on my taxes to get some money back?

[@abrahams.lincoln6749]

@@janetairlines1351Yes you can.

[@yoshit9819]

I'm 60. Zero debt. No mortgage. No car loans. No credit card debt. Keeping my old cars. Not buying anything substantial for a while

[@gregorylyon1004]

Your 60 and only care about yourself. Typical baby boomer

[@Deploracle]

Same here but 62. 👍

[@3bladeceilingfan304]

Taxes/Insurance/gas/water/electric/ food/ car maintenance/ house repair- and we know you got pets- pet food/ vet care/ pet toys- bedding

[@adoss7273]

@@gregorylyon1004 What exactly does that mean? You're obviously jealous someone is actually responsible. What's he supposed to do, pay off your bills instead? GTFO.

[@terrihansen2089]

Good job. I have no mortgage on old mobile that needs 11:13 alot if work. I have no car payment. The car only runs when it's hot out (sunny), but I can't do a car payment. I have no c.c. debt. 61 yrs old & I like not having too many bills. I will have to save for repairs.

[@Unhinged29]

The American dream: Home, Family, Retirement. Pick two. Soon to be one.

[@TheyRiseBand]

It's pick zero, now, for 90% of the population.

[@mike9132]

Its called the American Dream becuase you have to be asleep to believe it 😂 George Carlin

[@blackworldtraveler3711]

@@mike9132 Pretty ironic. He was a multimillionaire.

[@sunso1991]

Pick one: save $200k and get out of here! Retire at 50 in another country

[@hvaball150]

66% of America will have all 3.

[@donhtb1]

Hi Micheal , Me and my son are daily viewers , Im 55 he is 33 , we both love the fact you tell the truth, please don't change

[@Lisithedogwalker]

Hiii!!! I am Mike’s wife.🤗 Loved your comment and told Michael about it!😊 Thank you so much for supporting his channel!🙏❤️

[@donhtb1]

@@Lisithedogwalker Thank you

[@Lisithedogwalker]

@@donhtb1 Absolutely!!!!💯❤️

[@Cooper127]

I hope Hollywood producers are preparing the “big short” part 2

[@user-wc1bg8th4z]

Low probability that the 900 idiot PhDs at the Fed will raise interest rates much higher because that would mean they would have to have the Treasury issue more debt in order to expand the money supply to pay the additional interest on the debt.. They will continue their inflationary policy instead of being honest and defaulting on the debt.

[@picklerix6162]

It’s coming

[@MichaelBordenaro]

I’m sure they already have the script half written

[@KikoValleyMan]

Yep!

[@7fall]

@@MichaelBordenaro Ha! Sharp as always, Michael- that was good 😂

[@TheTraderGuy]

We lost a bid to someone willing to overpay this past weekend. You are correct - when you are a buyer, there is no rush. We were asked if we wanted to adjust our offer. We said, "No, if they want to overpay ten percent, let them."

[@TyrannicalYouTube]

Cause it wasn't a person. It was a hedge fund.

[@cherihyatt7243]

I saved $15 a day every day from the age of 21-41...With interest there was over $130,000 after 20 years...Then I paid $95,000 cash for my house in Florida...I'm so happy not to be paying interest to some corporate bank for a mortgage...My advice to all 21 year olds...Save $15 a day for 20 years...don't blow it at the casino or the bar...You will be so happy you did....It cost me $7,052 to live in my house in 2023 including phone, internet, and cable and I keep the A/C on 71....Works out to $19.32 a day....

[@Mark-pb8kj]

By 2044 if you save $15 a day that 130000 will buy you a ham sandwich.

[@indigostaraz]

That's awesome.

[@SecretRoomEvents]

Sometimes having a mortgage helps like tax write offs to lower ur taxes

[@surfboard396]

71? Do you wear a winter coat and gloves all day? 😉

[@relikvija]

👍👍

[@glogloe1797]

Yup, I’ve lived in my home 20 years. In that time I’ve had to replace 2 water heaters, new furnace, three garbage disposals, two slab leaks & 3 pin hole ones, replace 4 toilets, rebuild a balcony, re-do kitchen, garage door motor, a few windows. Other stuff. So ya, you need at least $5-10K saved for anything that can go wrong or simply wear & tear. Some at the same time. So at the end of the day I don’t owe much & lots of equity. Not a pity party just simply that one needs monies set aside for unexpected/replacement house issues.

[@TheyRiseBand]

The state thanks you for maintaining their property.

[@3bladeceilingfan304]

you have a water issue

[@glogloe1797]

@@3bladeceilingfan304 Yes, I changed my pressure regulator about 5 years ago. The PSI was too high & was corroded. No issues since then.

[@glogloe1797]

@@wagyu_killer Luckily none. In a flat area in the suburbs. I use to be in lending so I know better.

[@NYCHairguru]

5-10k? Not today’s prices of labor and materials.

[@timr31908]

I own a home.. and I still feel like a dog without a bone...😮

[@azmike3572]

...an actor out alone...

[@user-db2ob2jc2f]

That's because we "own" Absolutely...Nothing.

[@jayjay-bz3rr]

🎵 Oh , I own a home.. and I still feel like a dog without a bone 🎵. Sounds like a Country Music song

[@robertmanley2687]

An Actor on a Loan.

[@JohnDoe-np3zk]

My dog dropped the bone he found at the neighbors

[@123pb]

Scary thing is that at least when rates were 18% in the early 80s the cost of a cost was only 50K and only needed 1 income and that was a 20 year term!

[@tylerhurd9569]

Yep it’s a different beast now. It was tough in the 80s but it’s a lot worse now. I guess the government will try to band aid it until it doesn’t work anymore

[@lyn_in_MI]

Hubby and I purchased our first home in the summer of 1980. It was a 3 br, 2.5 bath new build. We bought it for $73,900 and paid one point to lower our interest rate to just under 18%.

[@georgedreher2322]

The cost of housing will continue to increase because the "value" of the dollar continues to fall. No way to fix that with a fiat currency no longer backed by gold. It's as simple as that.

[@annedodgson8677]

Read your post…does not make sense

[@marblox9300]

@@annedodgson8677 cost of a cost - - mays sense to me.

[@user-wp3cy3fl2j]

Its common sense that most people will not trade a 2.5% mortgage for a 7.5% mortgage.

[@johnlibonati7807]

I see it here in SW Florida all the time. My neighbors just sold their house. They had a 2.9% mortgage rate, but they’re moving back to Ohio to be with family. People sell for lots of reasons.

[@JDmix123]

They can’t afford there new property taxes and insurance premiums. So they’re selling and moving to a cheaper place to live which is Ohio since they have family there.

[@GEN_X_]

@@JDmix123 Oh they can't? Do you know them? LMAO

[@JDmix123]

@@GEN_X_ I know one person with this issue. That’s anecdotal but if you watch Micheal he’s covered this issue for awhile now.

[@1991windsor]

​@JDmix123 make sure they aren't coming to Central Ohio because it's not getting any more affordable at all here. With Intel, Facebook, Google and a million other companies making this the "Silicon Heartland" it's driving real estate prices crazy. I'm glad I bought my house here when real estate was still fairly cheap. I feel bad for younger people in Ohio. We have a real estate shortage and on top of that rent prices are skyrocketing so these people don't even have anywhere to live here except for with family. 23:00

[@Moormores]

Why are we paying so many different taxes? Shouldn't we be trying to elect someone who wants to limit taxes to just one 10% rate on all jobs, with no additional taxes? That way, we can hold people accountable for how they spend our money. We should also consider term limits and restrictions on how much politicians can earn during and after their terms.

[@TheSuperdodgy]

100% Amigo. Tax reform is way overdue.

[@latsnojokelee6434]

It wouldn’t make sense to have the same tax rate on state taxes all over the country. For example, out North Dakota they have very little infrastructure compared to an East Coast or West Coast city. Because they have such a lower population.

[@juanvaldez7279]

What about money made through investments? Is that the same as income from work? Or inheritance is that also the same? If you loose money and not profit what happens to that money can I still write it off that 10%. If I own property or real estate and pull equity out of its value is that income?

[@elizabethparsons1990]

At the very least we must get the boomers out of government. They have done enough 😢

[@paulconner4614]

So what Federal spending do you want to cut. Since you said no additional taxes I assume that means Social Security and Medicare are gone (these are pay as you go so bye-bye to those programs). So we cut 1.4 trillion for Social security. For Medicare and Medicaid and chips (get rid of socialist medicine) that will cut another 1.77 billion. So total budget of 6.1 trillion we have cut it down to 2.93 trillion which is a good start. We reported a total AGI of 14.7 trillion so 10% of that is 1.47 trillion so we need to find another 1.46 trillion to cut or find additional revenue sources. Now we did collect 110 billion in import taxes so that helps. But here is the fun one. We paid 870 billion in interest on our debt. However about half of that debt we are paying interest to ourselves. The debt is held by Social Security, the Federal Reserve or the States. We kill off all of that debt (just retire it) and that cuts 400 billion in expenses. So we are at 1.46 trillion- 400 billion interest - 110 billion import taxes = 950 billion left to cut or raise revenue. Not bad actually since we haven't cut into defense or va benefits or government employee pensions yet. Might be doable except for all those people bitching about not having Social security and Medicare and having to kick the old people out of the nursing homes.

[@nickelfrizz]

Let it all come down. My wife has a bachelor's, I have a master's, and we can't afford a house for our kids that are on the way. The crash can't come soon enough. I have so much spite for this country. I just want a place I can stay at, paint my kids rooms, and invest in where I'm living. Edit: For everyone asking, I'm 29 and my wife's 27. We're having kids because we want kids. We've wanted kids for a few years but pushed it off because of finances and the economy. We couldn't even save enough to have a wedding, though we honeymooned in Japan which was nice. We're having twins in September. They're our first kids.

[@thedadyouneverhadchannel3544]

You’re bringing children into this why?????

[@albundy7623]

Politicians would rather stack millions than worry about their countrymen . Hopefully they pay for what they’ve done

[@beatrixbrennan1545]

Why are you having kids in this utter madness that this world is? We're going into a major Great Depression as we speak. Not a good time to have kids. I pray you all make it through.

[@user-ms8ep9de3e]

Them used to say " go west young fella, go west ".

[@gregorylyon1004]

​@@beatrixbrennan1545 Did you ever have children????

[@jamesbell8496]

Just found this channel a week ago. I've never heard this much truth spoken. Appreciate your content. Cheers

[@MichaelBordenaro]

Welcome aboard! That’s all you’re ever gonna hear here

[@HunterJohnson77]

​@@MichaelBordenaroWe need more MEN like you. 🙏

[@Milaa801]

I bought a home in 2019 2.5% interest rate and house was $421,000 .. I got lucky but even with low interest rates it's still struggle with inflation.

[@gregorylyon1004]

Well maybe you bought more house than you could afford

[@Milaa801]

@gregorylyon1004 I can afford it but taxes keep going up every year...

[@SomeUserNameBlahBlah]

@@Milaa801 How much did property taxes go up? $5k a year?

[@Crcmvnt]

Damn $421,000!!! You are gotta be rich af.

[@anthony-L.A.6946]

@@Crcmvnt 50% increase.

[@Tygeera]

I bought my first home in 2012 for 138k. 3 bed 2.5 bath just under 2000sqft in Washington state. I just turned 21 then and my house is paid off now. I’m almost debt free as well paying off the last 4K on my wife’s car we bought brand new around 5 years ago. There’s a lot I’d like to change about my house especially now that we have 2 kids but, it’s a huge peace of mind having a paid off home at 32 years old in this economy.

[@cherylbroadenax1006]

Good job. And to have a spouse on the same page is priceless.

[@Delvy787]

Congrats!

[@Spot4art]

Brilliant ❤️ stay out of credit card debt. Keep saving your Emergency fund! You are way ahead of the game!

[@MotleyPoo]

No need to brag bud

[@alexhigginbotham8635]

That's fine. I guess millions of people are gonna be stuck with their overpriced houses.

[@gwill1674]

When, not if the coming recession gets into full swing people who lose their jobs won’t have a choice but sell their homes. Just be patient it’s coming.

[@shirtlesslager]

The USA government wants people in houses. Mortgage deductions.

[@Eyeris625]

Well it happens when you go FOMO

[@georgedreher2322]

Purchased pool home in 1997 with cash. That's 27 years ago. Buying another house now would be foolish.

[@thinkingtoomuch7974]

No one should have been allowed to buy more than one house - the house they're living in.

[@vinniephillips452]

LA in California is far cheaper than being a homeowner. Take a look at skid row. It’s rent free with no property tax.

[@user-uo7fw5bo1o]

I heard that gangs have taken over and are forcing homeless people to pay them rent for using the sidewalk! 😮

[@MichaelBordenaro]

Haha good one

[@hvaball150]

I feel like it is fairly expensive to live on the street. No?

[@vinniephillips452]

I was kidding.

[@bobbyjbear]

I'm on my journey to Mexico as I type. One way ticket. I am ridding self of all identification and will be walking up to Texas border. From here i will pick up my freebies and catch a free flight back to my hometown. We decided this to be best course of action at this point . Thanks

[@louisefarrington9170]

😂😂😂

[@bradleyvanzile1111]

Too much greed in this country!!

[@wanda520]

Too much coveting!

[@JohnSmith-zi9or]

The entire system is designed to get you into more house. Every realtor I had showed me homes that were above my budget "because we can negotiate that price downward." BS. Also, I hate the realtors who say, "Why make your landlord's payment when you can own yourself." Because many renters don't understand the extra costs associated with owning: improvements, repairs, maintenance, taxes, insurance etc.etc. I hate government involvement but I really think there should be a national formula applied to home loans and your income, budget and savings are heavily scrutinized so as to keep people from buying what they can't afford and keeping the payment below 25% of your take home pay.

[@gregorylyon1004]

Realtors get a commission based on home price

[@JohnSmith-zi9or]

@@gregorylyon1004 Yep.

[@blackworldtraveler3711]

My realtor drove me around, unlocked the door, and answered my questions. Also chose a realtor for their knowledge of the area not their looks.

[@karengrice2303]

Exactly!

[@Billy97ify]

A lot of small investor landlords have negative cash flow. They are subsidizing the tenants.

[@MM-ig2zq]

I solved the economic problem. Just bought a one way ticket to Mexico. Then crossing as an illegal.

[@latsnojokelee6434]

Funny thing… The Mexican government is actually sending Americans back who went there illegally because they’re causing houses in Mexico to become unaffordable to Mexicans.

[@brianmeegan6384]

Coming to America to work as a migrant farmer or a chicken plant ?

[@206remyboyz7]

Bring some product back i know how to make it triple, all I have to do is make a few calls

[@vincentkaka1596]

Be carefull they already deported 3000 american From mexico cuz they bring inflation with their dollars 😮

[@LuisMan8255]

😂😂

[@steviecoleman9260]

Bought my townhouse 6 years ago this month, locked in at 3.55 interest rate, not moving anytime soon....

[@jayjay-bz3rr]

Good deal. I did the same thing in 2009.

[@questionauthority7377]

Who cares ? . No one

[@gregorylyon1004]

We will never see $3.5% interest rates again. Who would actually loan money for a measly low rate like that ??

[@BREEZYM6015]

I'll make you an offer you won't refuse. 😂

[@brianfletcher8265]

Bought my 1st home in Cleveland 4 years ago during the pandemic (I was planning on buying my 1st house before Covid happened) my luck! I got 3.125% lowest the banks ever booked for a house 🎉🏡😍❤️‍🔥🙏🎈

[@LongNguyen-fp8ri]

The price and rate go up hand in hand, and people are still … buying. Not sure if they’re super rich or money laundering.

[@jkmarshall3553]

Cartels...

[@marygoff3332]

Or stupid. Been in R.E. 20+ years. The downfall is coming.

[@shanerogers9386]

The speculators who have been driving the market are using a lot of private and short term hard money. Gotta keep the money moving in many cases. Remember balloon loans? They are alive and well.

[@drake_leo2152]

Investors

[@azmike3572]

I'm not super rich, but I do send my older bills to the dry cleaner. They feel so much better afterward.

[@stevew6910]

Bankers did a great job this time, Homes went up in value, Counties nailed people for higher property tax, That also pushed home insurance up, A win win for everyone but a property owner who is not selling

[@hvaball150]

I didn't sell. I still feel like I won or am winning. Just to round that out. Taxes, and 2 insurance have gone from $6k to $10k. My annual cost maybe $36k up to $42k. My house value has gone from $200k to $650k. I won't sell because I am still at a point where I would have been paid to live in the house. So keep riding that house.

[@blackworldtraveler3711]

As a homeowner I have done a great job as well. Paid off in nine years over 15 years ago and only debt I had. Paid cash for beach condo as second home after 2008 crash. I’m in very nice areas I chose well with no reason at all to sell. I bought a home not an investment. I bought rentals with cash as investments and income and separate from my homes. Also a shareholder of insurance companies like Travelers and United Healthcare since early 90s. Heck even my Blackrock ETF pays my property taxes in Florida and I self insure my condo. All about choices. People need to think more outside of the box.

[@CB-jz2dn]

I just opened a credit card notification letter indicating they are raising their interest rate on lines of credit to 34.99 %.😮😮😮😮. Folks who have credit card debt will not be able to pay down their credit expense bill. It's so unfortunate.

[@mowtivatedmechanic1172]

Should be paying that off every month anyways.

[@elisabethgardner6321]

Just pay cash and only what you can afford for a while.

[@rollwithit5150]

I don’t feel bad for habitual credit card users.

[@CB-jz2dn]

@@mowtivatedmechanic1172 yep

[@winniethepoohandeeyore2]

Put it the hell away

[@missag414]

Rent will increase as long as taxes and insurance keeps increasing. Landlords will not eat the cost associated with their property they will pass it on to the renter. So rent will increase.

[@joepisane7756]

Being a landlord is a business, not a charity. A landlord doesn't pay for the property...the renters do. Same applies to tax and insurance. Only an idiot cannot understand that

[@shawnbruce6934]

We can't.

[@SomeUserNameBlahBlah]

Most of the rent increase is because landlords could, not because they had to.

[@karendevine2827]

It's been increasing every year. One bedroom apartment is $2,100. If we didn't have housing, we'd be homeless. We are both disabled. Our country is being destroyed from within. Makes me sick. 😢

[@MusicLover-ui9sm]

@@joepisane7756 Duh

[@MeEncantaKiley]

We’re going back to 1985 Marty 😂

[@hvaball150]

So, better movies then?

[@TOCC50]

Shaq dunked and knocked the hoop over

[@joequinal]

Keep speaking the truth Michael!

[@MichaelBordenaro]

You know I will!

[@joequinal]

@@MichaelBordenaro rock on brother!

[@elleboyle9452]

This channel is my afternoon coffee substitute.

[@MichaelBordenaro]

That’s awesome thank you for being here!

[@rokyericksonroks]

Bordensro is approaching 200,000 subscribers. He is doing so while being truthful, which itself is an achievement.

[@Theunknowndoodlebop]

Michael you gotta be the most depressing channel on youtube....but you speak the truth and know how to connect the financial dots. I will continue to listen you and get even more depressed. Thank you for your great informative videos.

[@jkmarshall3553]

We all take Prozac.

[@user-jr2ed7my1b]

Truth hurts your feelings eh fellow serf

[@picklikeapro6952]

CNN and msnbc have better news. BEST ECONOMY IN HISTORY. How lucky we are. 🤣

[@robertmanley2687]

Scott Walters on You Tube is great talking about real estate.

[@robertmanley2687]

@@jkmarshall3553 Don't clean your pistol watching these videos.

[@orion6704]

Rates are at 7.32% and that's if you have a perfect score

[@terrymoore565]

And not white..

[@mwtichenor]

You can get a lower rate by paying points

[@gregorylyon1004]

That's cheap interest

[@bigd2256]

I just was quoted 6% but that’s VA. Rates are all over the place

[@juliovillarreal2504]

we closed at 5.9%. we tried buying points but tvlb didnt allow it. will do va irrrl asap to buy down 1.5 points hopefully.

[@chrism5859]

If you are not tied down to your area there are less expensive homes out there in nice, safe areas. Not everyone needs to live on the coast or in a 2500 sq ft home in the suburbs.

[@jonathanjacques7250]

Amen

[@montymatthew1784]

Out of the 5000 home insurance inspections i have done on the Florida Treasure Coast since 2023....I can't remember ONE new home purchase with a mortgage! Every sale has been cash buyers from up North

[@janemiller8335]

I believe it.. I've been in Port St Lucie for over 40 years and I fail to believe that all these people are getting mortgages... They're selling their house up north twice as much..

[@MichaelBordenaro]

Absolutely this is what’s keeping the magic show on the road

[@Awareness_With_Dennis]

I work my ass off everyday and I still can’t pay my rent off 😢

[@MichaelBordenaro]

Really sorry to hear that

[@Prosecute-fauci]

You can’t pay rent off by definition

[@sirenmuscle]

Starter home tents on sale at Big Five Sporting Goods for $3000😂😂😂

[@BREEZYM6015]

Amazon has homes for under $20,000. 😂

[@sethlira]

Spot on brother

[@89playstation65]

And i bet there will charging rent for people in tents soon. Have to continue to make money somewhere.

[@wh-lo4tf]

😂Welcome to the United States 😂

[@jayo7093]

People need to hear the truth about housing. Owning a home is a privilege

[@hvaball150]

A fairly common privilege. Twice as many people own their property as rent. Renting is a privilege too.

[@Direwarlord213]

​@@hvaball150 Where are you getting this info? There are individuals who own 100-1000 unites and sfh, and companies as well. Airbnbs, rentals, etc. There are definitely more renters than owners and people who have to live in their family home. Your info is dead wrong.

[@deborahheckstall1881]

Owning a home is not a privilege it's a right.

[@jayo7093]

@@deborahheckstall1881 okay, then make the correct financial choices so that it is your right

[@hvaball150]

@@Direwarlord213 govt data. There are 122ish million households and 36% rent. That's up, but it's been around the same since the 1960s. This is basic knowledge and data.

[@mfenix911]

I just bought a house in texas, 2024 barndominium for $328k, near Waco (it was at $360k initially) with a va loan, and got all my closing costs covered. Already been waiting 2 years to get a house; interest is 6.5% and I get 100% property tax exemption being 100% disability with the VA. My home insurance is $105/month with USAA. My payment is $2200/mo, which is 59% of my income and I probably won't be able to refi anytime soon if this video is accurate. Despite that, I'm really grateful because otherwise I'd be living in my dad's basement until I inherit his house at some point.

[@ericscottstevens]

Rental complexes are popping up all over my area. It is a business as they know the fed is paying a percentage of peoples rent. So more rental complexes and more rent increases off of section 8.

[@dbrew2u]

3% interest rates are the primary reason that the Median Price of Homes is north of 420 grand . If you want the Median Home Price to rocket even higher again ? Let the Fed cut rates .

[@scott21113]

Florida maintenance is real. Just paid $800 to cut back all my trees in preparation for the coming hurricane season. It was $675 last year. Same trees, same landscapers. Tree maintenance pre-hurricane season is a necessity. Oh yeah, if you were renting and bought a Florida home - price in some pressure washing every year to keep decks, driveways and porches looking good.

[@thedadyouneverhadchannel3544]

You can’t run a power washer?

[@benton-benton]

That's cheap for tree work. Central Ohio a lot higher, like 2000 to trim 2 big trees.

[@user-jr2ed7my1b]

Stop being lazy

[@bigd2256]

Don’t live in hurricane alley..:

[@gregorylyon1004]

Florida is all about looking like you have money and pretty landscaped property. When in reality you are all broke in insurance and taxes and beautification

[@Fred1294]

7:30 Absolutely correct, alot of people think they have a 30 year fixed mortgage and not realizing that there are many other expenses then the mortgage.

[@Yup333]

When your economy depends on the greater fool, more fools must be produced in greater numbers.

[@azmike3572]

They're born every day. Nurse hands newborn to its mother...newborn has a tag on its toe reading "Fool". Mom is not pleased, but accepts newborn will not be successful in life.

[@alphadiallo1655]

I'm borrowing your quote

[@MichaelBordenaro]

Based on some of the stories I read, I feel like we still have no shortage of them

[@approxonestockpot8773]

There's no shortage. I live in Las Vegas and the for sale signs are popping up all over. Even the well to do gated communities. Half empty strip malls and brand new apartment complexes with first month free signs. It hit hardest here last time and it's looming again.

[@lut2843]

I hope it goes up double digits. 👍👍

[@reneehouser2925]

Meanwhile millions of immigrants will be given billions in food, shelter, healthcare & childcare assistance while being tax exempt. Among other things- 🤔 Like social security being gone, zero within 10 years! I'm so grateful my oldest son's house is paid off and my youngest has a 2% VA. America really needs to re-think their career options. I personally know so many people having their young kids "diagnosed" with something by age 3 so they can get the fat disability money and all the other benefits as well as being paid by the Govt to stay home and be a caregiver. Americans have found so many loopholes for "mental health" diagnosis, etc and other ways to milk the system.... Like artificial, unearned wealth buying real estate and having renters make the payments for them. God bless capitalism 🇺🇸

[@bobroberts2217]

Do a quick google search of all of those points. You’ll find that every single one of them is wrong. Stop parroting what you hear on Fox News.

[@picklikeapro6952]

$97k a second to take care of them.

[@donatelloDoesmachines13]

Without a doubt we are collapsing. And will collapse sooner under democrats. Neither side can a stop it tho

[@Eyeris625]

That is not a Democratic or Republican issue, that sounds like Grift which is really what the orange dude called trump does all the time

[@wandak1889]

They are illegal that’s the real messed up part. We are pay for a war and freeloading

[@lovechangesus]

My mortgage in 1999 was 14%. It was a standard mortgage.

[@winnerwinnerchickendinner8809]

Close to 20 in the 80s

[@FCS81]

Yes, but a fraction of what home prices are now.

[@momomama2510]

A house was 50k.

[@lovechangesus]

In san diego county the houses were 240,000 to 300,000 in decent neighborhoods. ​@momomama2510

[@momomama2510]

@@lovechangesus median price is what counts.

[@SirCarlosMusicBMI]

🎉🎉🎉 Hi Mr. Bordenaro 😊 I Just wanted you to know that I’m still following and watching your videos every day. But sometimes I don’t comment till later in the day, so after you get Thousands of comments I’m pretty sure that you don’t get a chance to read all of them. So keep on filming and I’ll keep on watching. Thank you for all your awesome thoughts and information. Blessings,Carlos ✝️🙏❤️😊🇺🇸

[@user-jr2ed7my1b]

The self importance of this comment

[@MichaelBordenaro]

This time you commented pretty early Carlos. Last time I checked I’m getting over 10,000 comments per week. It is bonkers lol. So yeah I can’t answer all of them, but I try to get to it at least a few days a week. Really appreciate you watching and supporting my channel man😎

[@chaspires5]

Still lots of realtor FOMO hype in Charlotte, NC. Thanks for your update

[@MichaelBordenaro]

Try to ignore it. Realtors will sell you their grandmother if it pays well.

[@FrankGallagherr]

Who wants to see Biden, Harris, Newsom, Adams, Hochul, Bragg, James, Willis, Schumer out of office, impeached, prosecuted.?

[@generator6946]

I want donnie for prison!

[@PredTrades]

*Hung

[@Eyeris625]

NOBODY!!

[@stevencarroll2013]

me

[@geraldkoth654]

Bring back tar and feathering and run out of town on a rail.

[@144Donn]

Regarding rentals: In my area in Northern NJ I cannot even count the number of HIGH DENSITY BRAND NEW STRUCTURES going up! Within a 2 mile radius there must be at the very least 10-15. EVERYWHERE and I mean everywhere you look more & more are appearing!

[@benton-benton]

Same in central Ohio. Where are all these new people going to come from? Or need I ask.

[@chm9935]

Same in south nj.

[@MichaelBordenaro]

And that’s why rental prices are going to be coming down. They already are in a lot of areas.

[@user-uo7fw5bo1o]

High density structures: are you talking of 5 over 1 apartment blocks, Texas donuts and the like?

[@Spot4art]

Massachusetts is still building McMansions in cul de sacs everywhere you look! 650-750 thousand for these places! Our area houses listed in the millions. Crazy!

[@UnhappyinNewYork1807]

I gave up on ever owning a home in N.Y.S. The property and school Taxes are crazy High

[@jkmarshall3553]

Would that be New York Sity?

[@user-jr2ed7my1b]

EMBRACE DIOGENES OF SINOPE

[@gregorylyon1004]

The state of New York has high taxes because of all of the lifetime pensions to retired workers for the state city and county. Pension funds

[@chuckchan4127]

10% interest rates are rookie numbers.

[@mangodiet801]

Unless them home prices decrease .. things ain't moving

[@markpitchford7375]

even at 0%, people can't afford the current prices.

[@anonimity1174]

Good information as usual. The realization is coming in :-). No wonder why some of the millennials and Gen-Z do not want to work anymore because salary is not enough. I just invested my 20k in buying land in the Philippines and creating storage for harvested goods from farming and shares from sharecroppers. In addition to long-term business, my plan is also to build a gas station, and do real estate there Thanks to my business-minded Filipina wife. And also educate my kids about business and how it can be scaled and continued even when I am gone. And guess what we only have a manufactured home in the US while working in a stable government job, and building my software company to deduct some of the expenses during the tax year. If you buy a house, pay it with almost your entire life (30-40 years), and let's be frank, we are not gonna last forever, so you only have a few years to live after you pay your mortgage. When your kids inherit that house, they may sell it anyway when you're gone due to many factors such as e.g family asset split shares.

[@AmericanPatriot-1776]

The big clue, these folks are trying to sell their house and interest is waning because of the high interest rate, between 7.43% and 7.7%). You can't miss that, it's no miracle. We have 3 houses on our street sitting empty, no buyers, the next street over has 4, for over 2 1/2 years.

[@iwonasmolenska1010]

How much money they can print,before it blow up ,interest will be 7%-9% minimum,that’s the reality

[@TOCC50]

I still use a piggy bank

[@casienwhey]

I have a 25 year fixed with a 3% rate. No way would I move and give that loan up. It's way too valuable, almost more than the house itself

[@TheRogerhill1234]

got that right !

[@69ss95]

18 percent in early 80s

[@gregorylyon1004]

Yep. And people are crying about 7.5% today. I think that Americans got used to borrowing interest free money

[@bigd2256]

Yeah but how expensive were the homes? Were they as expensive as they are now?

[@ronpagala7496]

House prices in the 80’s average 65k

[@corybuckle944]

So $40 thousand for a home vs 400 thousand lol The cost of wages has only gone up 5x in 40 years, while homes are up at least 10x. We haven't seen this much inflation since around 1981.

[@bigd2256]

@@ronpagala7496 yeah I know but these “I paid 30% in the 70s” types conveniently leave that out

[@actualfacts1055]

In Australia your capital gain gets added onto your taxable income but if you own the property for more than one year then the gain is discounted by 50 percent. There is no capital gains tax on your principle place of residence.

[@lovechangesus]

Median home price in san diego county in 1999 was 238k. NOT 50k.

[@hvaball150]

Median price is what some Google web site says... Thats the scary part. I have no doubt they were $238k, not $50k. Houses in small Tampa were $75k in 1984. But.... What years were Apple stock over $600? Or the first year... Think before answering...

[@Juliet875]

Higher rates are a good thing. Low rates are what caused the housing market problems. Heard FHA & Fannie Mae are requiring full replacement insurance coverage and they own most of the mortgages. Looks like Florida won't get that partial insurance coverage passed here with them Thanks Michael and Happy Wednesday!

[@nolongeranurse3369]

This market is not going to crash like 2008...it looks more like 1980s...yes the rates will go up...if there is any drop prices will skyrocket a lot

[@MOstix13]

Insurance costs are skyrocketing and predicted to get even worse. Strap in and buckle up. Thanks Joe and Nancy.

[@JDmix123]

I hope interest rates stay up 8 - 10% for a decade Also the only people selling there homes who are locked in with 3.5% or below interest rates are those forced to sell via property tax increase or job change

[@hvaball150]

I would sell for other reasons

[@joesmith3590]

You think 4 trillion in interest payments yearly will make housing cheaper?

[@JDmix123]

@@joesmith3590 we need the interest rates to remain high for the time being due to the rates being arbitrarily set low for so long.

[@user-xt7jh2hw1d]

All the government's efforts to influence RE prices distort the market. All their interference just takes from one person and gives to another. One fix causes another problem requiring another fix causing another problem ad infinitum. Rates don't matter, just the total cost per month.

[@ParanormalPat]

So glad I bought my house in 1990. Had to borrow a whopping 47k on a 30 year note, paid it off in 7 years, no debts. Feels good in this day and age.

[@roadtrip2943]

I know what works and doesn't work correctly in my old home of 20 years. Major appliances 5 years , ac 2 years, plumbing work 6 years ago, new ceiling fans etc. Moving to another house you never know until you live in it

[@DWEthiopia]

I disagree on this. Rates have no chance at reaching 10%. The Fed is already talking about cutting by the end of the year and unemployment is rising. Rates will just hover between 6% and 8% for the next 2-3 years. Only way rates get below 6% is if the economy crashes and unemployment jumps over 5% and the only way it gets above 8% is if inflation continues to accelerate, which doesn't look like its happening either.

[@hvaball150]

You will probably be right. In 1986 we had our buts spanked for the interest rates we unleashed. The Plaza Accord. The world won't tolerate that behavior again. We haven't returned to even 10%.

[@rafaelsantana3022]

As a first time homeowner during pandemic. Personally I am not planning to sell no one time soon . I’m actually working on getting a second income to pay duwn my home sooner. I will gladly wear my golden handcuff then to sell my beautiful home and get into another home smaller more expensive and possibly made from cheaper material because these new build are being made so fast with cheap material due to shortage in material . Posting this to provide a homeowner from pandemic perspective. ❤ FYI your videos are awesome your the first video I click on before the many economy analyst bloggers I follow as well.

[@debbiec6216]

*Michael* You are right about >>2:33 - 2:52

[@stevepierce1238]

“That's why they call it the American Dream, because you have to be asleep to believe it.” George Carlin Be patient, the bargains will be abundant.

[@08turboSS]

Rates were 15-17% in the 80's and a nice 2k sqft prop was about 180k, now its over valued to 500k. I could see it being 230-280k. .

[@MichaelBordenaro]

But the problem is if you buy a 400 K house today at 18% interest interest rates you’re looking at $5500 a month mortgage payment with taxes and insurance

[@user-uo7fw5bo1o]

No, house prices will never come down. Banks and the government at every level need house prices to keep going up!

[@chuckchan4127]

​@@user-uo7fw5bo1o 2008 crash: Am I a joke to you?

[@markpitchford7375]

a 180k house in the 80s would have been a MANSION. They were more like 50-100k for normal people houses.

[@johnny6pac567]

Amen preach on brother Michael

[@getoffmylawn8986]

I'm totally blessed. I'm in a great house on a lake in Florida, now worth north of 600k, VA mortgage at 2.25%. Mortgage payment $1680.00/month. Renters are paying twice that.

[@marblox9300]

Your house is on a lake.??? So you live on a boat. Got it.

[@helpAmerica1]

I like the old days interest rates hit 21%

[@user-jr2ed7my1b]

WAYYYYYYYY LESS GUBAMENT DEBT AND INFLATION

[@BREEZYM6015]

I miss that. 😂

[@TheyRiseBand]

Ah, the good old days, when houses were 3x income.

[@Youcomeasuare]

It's taken the bankers and politicians almost a 100 years to get us to this point. Where does it go from here?

[@thedadyouneverhadchannel3544]

111 years. 1913. End the fed or nothing changes only gets worse from here.

[@user-jr2ed7my1b]

SLAVERY

[@user-uo7fw5bo1o]

Indentured servitude only the debt can never be paid off, and internment camps for the homeless people and any other "undesirables".

[@juliovillarreal2504]

“you will own nothing and be happy” -that wef guy

[@chuckchan4127]

Cyberpunk style dystopia.

[@justinlowry6522]

My morale is completely broken. 5 months on the market, 3 price decreases, finally got an offer a month ago, it's contingent on the sell of buyers townhouse(it's not selling) we're in a contract and our hands our completely tied for 6 more weeks. It'll be 6 months on market by then. Our Realtor completely failed us.

[@ALEXdaG]

I’m 34 trying to buy my first house. Trying for 2 years now. Out bid on junk houses.

[@jimshoe402]

i TOLD u years ago 10% and u said LOL HaHa. Was there 1982 18% and 2006 ..Enjoy ur HOA,TAXES,INS..My Taxes UP $200 enjoy the Storms..😁😁😁😁😁😁😁😁😁😁😁

[@mowtivatedmechanic1172]

I got a 5 year 11%. Gonna be paying this off with a quickness.

[@johnqlunchbucket]

Rates are going down from here. Janet Yellen is out of money.

[@bigd2256]

It’s not hitting 10% this is just crash bro nonsense

[@wildbikerbill6530]

@@bigd2256 You haven't seen this before. Some of us have.

[@chuckchan4127]

​@@bigd2256 Are you kidding?

[@SweetSilver805]

SERIOUS QUESTION! Do your property taxes go up if you own your home, no mortgage- if the value of your home goes up?

[@benton-benton]

Depends on the state. Where I am, Ohio, yes they tell you what your house is worth and tax you on it, doesn't matter if it's paid off or not. Never ending property tax.

[@SweetSilver805]

I’m in California so I’m probably not an exception

[@MichaelBordenaro]

Absolutely

[@hvaball150]

If you are dumb. Yes. If you are smart. No. In FL, my house has gone from $200k to $600k. My assessment, however, has changed very little. My taxes have gone from $2050 to $2100.

[@marblox9300]

@@hvaball150 I live in Illinois and my paid off constantly goes up. So - you are right - I am a dummy for staying in the corrupt state of Illinois.

[@ralphholiman7401]

My first home loan, in 1985, was ten per cent. But, my house only cost $42,000. $600 a month note for a ten year loan (property tax and insurance included). My salary was $21,000 and wife’s was $15,000.

[@d.t.4523]

Thank you, keep working.

[@edmardt]

Glad my homes are paid for!

[@fueledbymusic3]

Property taxes will drive you away

[@ALEXdaG]

You shouldn’t have more than one home sorry to say

[@edmardt]

@@ALEXdaG And why?

[@ALEXdaG]

@@edmardt because there is a housing shortage. People with multiple homes renting out the ones they don’t really use and taking away opportunity for first time home buyers like myself with over $100k saved and making 6 figs and i still can’t get into anything

[@edmardt]

@@ALEXdaG Alex, I don't know where you are located but there is no housing shortage in Florida, and 100k for a down payment will buy you a nice place in Englewood, where I have a home. Check out the homes for sale in Englewood, where you get a good bang for your buck, and close to the beach.

[@surfboard396]

I didn’t even watch the video yet. Who the hell is going to sign on the line for a double digit mortgage rate? 🤷🏽‍♂️ That adds thousands to your overall price and payment. I paid off my house early with a 5.54 rate. That’s a rate from 20 yrs. ago tho.

[@mowtivatedmechanic1172]

I’m on a 5 yr 11%. Gonna pay that off quick. In the 80’s it was 18%.

[@RRAREBEAR]

Really enjoying your videos. The facts, your knowledge, the scenes of Florida… I’m a subscriber!! Thanks for the info ! 🐊

[@rabunbike]

One way to avoid capital gains tax on investment real estate which includes vacant land is via a 1031 Exchange roll over. That works by selling the property and then within a short period of time buying another like property at greater value. The roll over has to be done correctly and it will defer the taxes on the sale of the property and allow you to use what would be paid in capital gains in the second purchase. Some states may still trigger capital gains but my state does not so you need to consult an accountant. The trick is making sure the property is eligible (personal homes don't apply as they were except starting in 1997 and give the 250/500 exclusion), making sure you never receive the proceeds (you need an 'agent' such as a lawyer to handle the money), and finally the time frame is within a certain number of days to close on the new property. If you can pull it off a roll over can be done multiple times. I have had family member successfully roll over investment property 5 times before finally selling it. And some people never pay taxes which is kind of crazy but it works because they roll over the proeprties until they die and the property base is then reset at the death of the owner to their heirs.

[@ballaratevil6048]

Australian house rentals are Sky High as not many rentals available and big Immigration.

[@MichaelBordenaro]

I think you guys in Canada have it even worse than we do

[@marblox9300]

@@MichaelBordenaro Um, Canada is not Austrailia. But like your channel anyways. :)

[@idreamcaster]

If rates do go to double digits, nobody and I mean nobody will sell their home unless they are either stupid, desperate, and not financially sound!

[@latsnojokelee6434]

People with ARM’s might have to sell when their loans readjust.

[@chuckchan4127]

​@@latsnojokelee6434 People with ARM loans screwed themselves.

[@brianf761]

It seems that three entities that will never encourage people to live within their means are the federal government, state governments, and the financial products industry.

[@jimmyamico4713]

Good Job Michael ❤

[@Barry-Sweaty]

Last night I had a dream that Michael was going to say we are on track for something terrible. I should go into business because I’m a psychic.

[@thedadyouneverhadchannel3544]

It’s not hard to see.

[@Unhinged29]

If I had a dollar for every time he says something terrible will happen I wouldn't care that something terrible will happen.

[@BREEZYM6015]

I'm gonna give Michael $10,000 to invest however he chooses since he's so good at this. 😂

[@picklikeapro6952]

CNN and msnbc has the news you all want to hear. Good luck with that.

[@MichaelBordenaro]

😂

[@versacomkev8318]

Bingo! Great analysis.

[@wh-lo4tf]

😊 We recently sold our 🇺🇸 home and moved to 🇲🇽 Mexico. 👍 Living the Dream.😂

[@winniethepoohandeeyore2]

Bought my house in 21 @2.875% I'm not going anywhere.

[@user-jr2ed7my1b]

TY FOR YOUR PROPERTY SLAVERY

[@dotcom721]

Same here exact same situation year and rate

[@winniethepoohandeeyore2]

@@user-jr2ed7my1b We overpay the principal every month since the first payment was due, we get the tax deductions, we get the double homestead exemptions...We're good

[@johnnymidas5879]

DESERT GREETINGS MICHAEL 🏜

[@MichaelBordenaro]

Hey Johnny!!

[@MichaelBrown-ny3et]

Inventory along with interest rates and insurance are still side bar issues when compared to the crazy pricing of homes. Most can’t buy the same home they’re currently living in. The market is so screwed up.

[@lcomfort8683]

As long as one can afford the payment, owning is better than renting (but not if it's in a Hoa/ townhouse/ condo, etc. Extra monthly payment that might go up- just pass on that kind of home) Things don't usually go wrong all at once, and repair/ replacement estimates vary Wildly. One can live without making improvements for a long time. Roof, water/ sewer, electric, those are the only must fixes. And they don't usually all happen at once.

[@abender06]

The real solution is to get domestic oil flowing and drive gas prices down, disengage financially from all foreign wars that we have no business in, deport all illegal immigrants while shoring uo the boarders and dropping mortgage rates to around 5.5%. That right there would usher in a golden era.

[@markfcoble]

Too practical!

[@sunso1991]

Too rational

[@sman8yogyakarta909]

I love the grounded reality of this channel!!! *Retirement took a toll on my finances, but with my involvement in the digital market, $15,000 weekly returns has been life changing. AWESOME GOD* ❤️

[@Janeoooo225]

I feel sympathy and empathy for our country, low income earners are suffering to survive, and I appreciate Wayne. You've helped my family with your advice. imagine investing $30,000 and receiving $95,460 after 28 days of trading.

[@lodowyka.nanariain2231]

I'm in a similar situation where should I look to increase income? Do you have any advice? What did you do ? Thank you

[@America500]

Well I engage in nice side hustles like inves'ting, and the good thing is I do it with one one of the best(Michael Wayne), he's really good!

[@Jake61982]

Did someone just mention Mr Wayne!? Damn! You just made my day; what a coincidence.. I've worked with him for over 2years and I can tell how good he is

[@moussimousse5420]

It's great to see you guys talking about Michael Wayne, This man changed the game for me. Good Man ❤