Exposing The BIG Lies Of The American Dream

[@KristinaSmallhorn]

Do you believe the American Dream is over? ** To Watch More :American Dream Stolen By Amazon: kzbin.info/www/bejne/foSapo2XaKl8gbs

[@crazyeightsable]

yes

[@markh.6687]

No, but right now it's not going well. Even allowing for holdback by large builders, there simply aren't enough houses on the market. People with low mortgage rates don't want to spend way more per month. People trying to buy can't afford overpriced homes, and the market shortage of existing homes is keeping prices up. The recent stabilization of interest rates will help the deep-pocket investors more than home buyers, while rentals are soaring and in some places in short supply. It's a "perfect storm" the likes of which the market has never seen, not even in the 2008 crash.

[@curiousworld7912]

Yes, as long as we accept that 'profit' is everything, and only money matters - not people.

[@Raziel6523]

do I believe it’s over? No. I know it is

[@MarsMellow84]

" The reason they call it the American dream is because you have to be asleep in order to believe it". - George Carlin

[@TheLovely990]

You are 100 percent right. MY grandparents purchased a 6 bedroom home in Seattle, WA for $14,000.00, and sold it in 1985 for $85,000.00. The home is now worth 1.3 million dollars now. Even if you're making $200,000 a year, you can't afford a home today, and it's sad.

[@californiabreeze2182]

Greed

[@jamesballard6564]

That's one of the reasons I moved far from Seattle. I need to retire somehow.

[@MechE11B]

Moving isn't something these folks are willing to entertain. They always have an excuse. Family/friends live there, shouldn't have to move from the place you grew up, no job in my field... etc, etc... In an ideal world sure that makes sense, but like you said. At some point in the real world you're going to have to retire. Sadly for these folks with excuses that chicken won't make it home to roost until it's too late.

[@truckingwithtobee]

The boxable factory is right here in Vegas where I live. It seems like they are cranking out hundreds of them because you can see them outside getting loaded on trucks so people are getting them. I think they’re just so backlogged.

[@janek.5886]

these types of examples just illustrate how there's an element of luck to it, too. Not all places see this type of equity growth. Who knew in the 80s that Seattle would be a tech center? Nobody. San Francisco is another example.

[@ModernAdventurerTravler]

Kristina, I couldn’t agree with you more! I am 100% with you on that anyone who is working hard should be able to afford a home. Whether that home is tiny home or single family home every American deserves a proper living space. Thank you for this video. As a Veteran I proudly support your channel.

[@KristinaSmallhorn]

Thank you.

[@kaylaEA_]

I agree, except no one should have to live in a tiny home. That’s not feasible for aging.

[@ModernAdventurerTravler]

@@kaylaEA_ I completely agree with you. I personally wouldn’t choose a tiny home. Condo or small single family home would be preferred.

[@brianbeecher3084]

@@kaylaEA_I personally have lived in rented rooms in private homes for much of my adult life. As a single and childless person I really don’t need a lot of living space, and the money saved could be used for other things. And I am a proponent of bring back rooming houses, which could make an appreciable dent in the homeless crisis.

[@backcountyrpilot]

Deserves? The entitled attitude of today’s yute is half of the problem.

[@ganjacats]

It’s so hard right now. The job market is stagnant, everything is so expensive, people are being laid off, people aren’t getting raises. Healthcare is ridiculously expensive; and worst of all the Federal Government just keeps pretending that everything is okay and posting their inaccurate statistics.

[@nemoretime7466]

What are the inaccurate statements? They have change the formula for inflation over time. The previous inflation formulas had inflation as being higher than it currently is.

[@karlabritfeld7104]

Government pretending everyone is employed and making greatttt money.

[@karlabritfeld7104]

​@@nemoretime7466open your eyes

[@pcrockett5967]

There are two economies. One for paycheck to paycheck wage earners who are unable to save $500 for an emergency and one for those who have a 401K and who can not only afford to save $ but have some left over to invest. Guess which one government spokespersons and journalists who cover the government are in? They raise interest rates to curb inflation when almost 2/3 of inflation was caused by price gouging or supply chain issues. Instead of targeting corptns who have made record profits, the gov’t targets the labor market and the wage earner who now can no longer afford to make their car payment. Neither Trump nor Biden are going to do anything about this until we elect better representatives and senators.

[@joec3703]

@@pcrockett5967 I know you voted for Biden. This is your fault, stop trying to act like it was both!

[@ddjjss]

Several months ago I looked into buying a mobile home. Turns out they depreciate similar to a car unless you own the land, then they will go up in value. Next problem I discovered was the high cost of getting the bare land ready. The land may need to be leveled; you will need to pay for utilities to be run to it. New mobile homes have skyrocketed in price. All in all, you just can’t win. This country is all about the wealthy; the poor don’t have a chance.

[@dynogamergurl]

I’ve also noticed that, I was considering getting into off grid living or homesteading just to escape my situation, but it turns out the same as what you said. Even if I were to live in a van, that van is still gonna need somewhere to park and get clean water and empty sewage, plus insurance on it and running a generator. Not to mention that rvs aren’t a regulated business, they could be cobbled together with sawdust and it’s perfectly legal. An older van would probably have lots of repairs too. Can’t win for losing

[@NSGLiv]

Which is exactly what I did I bought a mobile that sits on 2 acres of land in a rural area, if you can find one that already sits on land and is established for cheap it’ll be worth it, I paid 150k for a 4 bed 2 bath remodeled even if it goes down in value I still have the 2 acres of land which I use for growing food and small cattle

[@sophieartmusic]

Everything is in unaffordable … ☹️my salary feels the same. I’m a single house hold income and yes, it’s scary out there how expensive it is. Grocery shopping is not in my budget.

[@KristinaSmallhorn]

Buying food feels like a luxury recently.

[@larryreynolds007]

My first home cost 17,000.00 in 1973 and I was a 22 year old young man making 10,000.00 a year on a average job. times has changed.

[@user-xz9ed8pw2s]

Your recognition of the challenges my generation (GenZ) and millennials have, made me smile so hard!

[@MoneySavingVideos]

My first home, an older home in Missouri, cost me about $40K in 1980. My next, in 1985 (Oregon) cost $75K, bought another for $205K in 2003 (Oregon) which I still have is worth $750K now.

[@12thandDst]

Wow, why am I even surprised. That’s really sad. Greed has overtaken peoples hearts.

[@specialagentorange4329]

To call people greedy because they like to work hard and fancy more than 1 house in a different remote evil is disgusting

[@cariwaldick4898]

@@specialagentorange4329 No one is calling it greed, if you're working for what you want, and earning it the hard way--knock yourself out. What's greed, is when large corporations are buying up trailer parks, starter homes, and apartments, just to keep young and poor people as perpetual renters, who will NEVER own a home. If you can afford a second home, you're in the demographic new home builders are targeting. Please understand, most people don't live like this. Most people are working hard, and not getting ahead.

[@specialagentorange4329]

​@@cariwaldick4898 1 in 4 houses are being bought by corporations. Even still, these corporations are backed with other people's money like my money. We give them the money to invest so we get a healthy return and don't have to rely on government via social security down the road. Again, we are working hard to make our money grow via hedgefunds do just that.

[@tjr-007tt]

I just don’t get why a statement like “everyone deserves an affordable place to live” is controversial. America is being consumed by greed.

[@user-xz9ed8pw2s]

And selfishness too 😢

[@ordinaryhuman5645]

Greed? It's just supply and demand. More people want to live there than the housing supply would allow for at lower prices. The general problem is too many people want to live in a small number of houses. The solution is to spread out or make more housing, and existing homeowners aren't interested in the latter. Affordable housing exists, but people would rather have the unaffordable housing, which is why it's unaffordable.

[@user-xz9ed8pw2s]

@@ordinaryhuman5645 you failed to mention or either don’t know that corporations such as Black Rock and other Private Equity firms are buying properties and taking them off the market. It’s beginning to become a situation of “you will own NOTHING and be happy”.

[@michaelsd284]

@@ordinaryhuman5645 More houses is not the solution and not the topics of this video. The issue at hand is that the "dream" has been stolen by corporate greed. For example in the early 2000s Banks and Wall Street created investment products that were based off Banks lending money that they should not have. This inflated the buyer's population which in turn allowed sellers inflate prices. Unfortunately this behavior continues and is expanding into the rental markets making that segment of housing unaffordable. If you look at the data you will see that since the 90s home prices have exponentially out paced earning, and when you add in the costs of higher education, the Gen Y and beyond will continue to expand the bottom levels of the middle class as they will be in so much debt that they will never be able to retire. As a GenXer, I now have the choice and burden to build into my retirement plan "legacy" savings (i.e. inheritance) so I can RIP knowing my kids will not be working til the day they day nor be on the street begging for shelter.

[@hellboundTX333]

Affordable housing exists in the Ghetto maybe. This market is ridiculous the last few years.

[@slopedawg1]

problem is that its NOT all over the headlines. Its lucky to even be mentioned, because they dont want to have to fix it

[@KristinaSmallhorn]

With the number of homelessness rising in aging populations it’s going to be harder and harder for them to ignore. The fast growing number of homelessness is United States is the elderly.

[@Here4TheHeckOfIt]

The negative views you see about aging lately is alarming. It doesn't take much to see why the number of homeless elderly is rising.

[@KristinaSmallhorn]

@@Here4TheHeckOfIt my parents are in their 80’s I see what’s happening with their friends and family members that has me scared for them. The world isn’t getting any cheaper and when you have a fixed income in some cases you have to make decisions between food or medicine and even a place to live.

[@karlabritfeld7104]

Fixing it would entail getting rid of capitalism.

[@cariwaldick4898]

@@karlabritfeld7104 You said the quiet part out loud. I think more and more people are waking up to this, but all those at the top won't make that change. They're going to fight it.

[@pattybonsera]

No thanks to the tiny home. Most of them are glorified sheds and would never survive a major wind storm. I totally agree with you that we are absolutely at a point in time of a divide. There absolutely is an affordability crisis.

[@karlabritfeld7104]

The government needs to build "projects". Poverty housing for people who can't afford even to rent a one bedroom apartment.

[@cariwaldick4898]

@@karlabritfeld7104 Maybe. I'd prefer to see them write some legislation about corporate ownership. I know two bills were introduced, but I haven't looked to see if they went anywhere. Then there's always taxing the rich--which could start to claw back some of the trick up economics we've had for 40+ years. Housing is just one aspect of greater wealth concentrated at the top, and corporations that have grown too big to fail. We need our monopoly laws strengthened--and USED. Real estate companies went from being third party brokers, to being buyers, sellers, remodelers, investors, and holding companies. They need to be broken up. The problem with projects, is they have a reputation of neglect, crime, and decay. Maybe more investment in Habitat for Humanity? Maybe changes in laws governing zoning, so cities can't ban low income housing from certain neighborhoods. Drop a nice, low income apartment in an affluent neighborhood, and it addresses the issues projects have. But to do that, you have to address the NIMBYs.

[@craigdvance]

I live in the triangle, nc. They just did a full house reassessment for every house in Wake county, doubling the taxable income on most properties. It's crazy.

[@autobotdiva9268]

Ohio is on the news

[@appleiphone69]

As the famous comedian George Carlin said, “The problem with the American dream is that you have be asleep to believe in it”.

[@I_S_Chew]

I came here to say this exactly

[@quitaulla1569]

​@@I_S_ChewIt is a nightmare.

[@dorrisben1]

This rings so true today! Can't buy in this crazy market...I will never own a home if this trend doesn't reverse.

[@kendallevans4079]

" It's big club, and you ain't in it"

[@melissas4874]

I think it was called a "dream" for a reason. There is an all rent subdivision that was built near my home like 8 years ago. About 3 years ago I noticed many of them started going up for sale rather than rent. We had one major freeze event (in TX) and one tropical storm since they were built. I have a feeling that home was likely damaged by one of these events (or both) and the rental company did not want to repair. So do I think these investment companies want these homes for long-term rentals? No. It only pays off if it is short term and before serious repairs need to be done. As soon as they lose enough money on one house, they will sell it as-is for the next owner to deal with. Corporations love making money, but as soon as the cost to own is above a certain threshold, they ditch it.

[@bdwon]

Cool! Your observation makes perfect sense from the capitalist perspective. It can be super cheap to do something in a cookie-cutter, repetitive, assembly line kind of way! I bet you are right and that they will sell homes when the repairs have to be done piecemeal by skilled carpenters and lumbers. BTW, the phrase "American Dream" was coined by writer and historian James Truslow Adams to provide solace and generate hope during the Great Depression. That was in his best-selling 1931 book Epic of America. It wasn't really about housing. It was described as "that dream of a land in which life should be better and richer and fuller for everyone, with opportunity for each according to ability or achievement."

[@pcrockett5967]

And the dream came true for white males during the fifties through seventies!

[@mikerichards8400]

Kristina, you are exactly right with your analysis. You have the brilliance to probe the real estate markets, and you have splendidly exposed the fallacies that are prevailing in the industry. Thank you.

[@KristinaSmallhorn]

Thank you for watching.

[@randiD123]

Well this explains why my son can build me a $450K home. And this is disgusting. His dad and i built a 3000sf home 20 yrs ago for $150K.

[@bdwon]

It's not totally about market manipulation and monopolistic practices. Some has to do with how the middle class is now expected to consist of two-income families. But your basic analysis is entirely correct and admirably humane.

[@patsfan8057]

Thanks so much Kristina for your caring and calling out these thieves. One thing I noticed is that my property taxes went up as well. Luckily, I still work at a job that pays well. The fact that they can "price" people out of their homes merely with property tax increases is insane. Also, tragic that people are losing money to these scammers! I would caution these companies and individuals to think about what they're doing, when you take money from those who cannot afford to lose it for something as basic as shelter, you MIGHT reap unwanted "benefits" from those at the end of their rope...

[@cindys9858]

Really enjoy your content, your honesty is refreshing. Back in 1972 my folks paid $15k for a new 3 bdrm, full basement suburban middle income home, and that is in Massachusetts. Think their payments were like $125 a month.

[@Nikki-Adams]

Thank you for your honesty and transparency. It’s soo hard to find KZbinrs that aren’t just selling sponsorship.🙏🏽🥰

[@somethingsomethingsomethingdar]

I am shocked, shocked I say that there’s no actual real estate crisis and people in power are just trying to increase their profits

[@KatiLitten]

I had my house that was paid for. But wages did not keep up with the ever increasing property taxes (due to home values increasing at an insane rate), utilities, and insurance. I was going under financially. I sold the house and now live with my daughter. I help her with her rent. I miss my house so much and having my own place. The odd thing is, I used to be middle class. The greed of this country has broken my life.

[@KristinaSmallhorn]

I don’t think there is much of a middle class left. It’s haves and have nots.

[@stevenmorris2293]

Nice. You now have some sizable savings invested and a place to live .

[@jim-ry3eq]

Taxed out of your home. The founding fathers warned how citizens would be dispossessed of their wealth and homes if they lost control over the issue of their currency and when people figured out they could vote money into their own pockets. I was taxed out of my home. When I threw in the towel, the tax bill was in excess of the initial PITI mortgage payment. But that's not new. I can recall old folks lamenting the same thing when I was a younker.

[@karlabritfeld7104]

And this was wealth????

[@SerenityNowhere]

Most Americans don’t understand that all of this is not the result of corporate greed, but rather the abandonment of sound money. Nixon took us off sound money in the early 70’s and that triggered the slow death of the middle class.

[@rotzo666andstuff]

Love the channel! Great information! And I enjoy listening to you! Stay Awesome ! GO FORTH AND BE BRILLIANT!

[@barbee217]

Yes Kristina, I agree, everyone deserves a home of their own, love your content, thanks bunches

[@lookinforwater4344]

Same thing as the car manufacturers. Getting rid of entry model cars and then selling much of their vehicles to fleet sales, despite knowing the post Covid demand…making things worse instead of pumping out cars they lowered their production. (Not to mention the artificial dealer add ons or market mark ups, etc.) Plus the 30-40% increase in MSRP since 2019. Our salaries haven’t increased 30%+ so…

[@WillMoon]

The thing that really gets me is the cost of maintenance these days. Just insane. I tried to call up a plumber to do a service contract for routine maintenance on my tankless hot water heater, which pretty much involves running white vinegar thru the line for 45 minutes using a submersible sump and blowing out the filter once every year. I was quoted $700 a year to do that. The problem is now all tradesmen think they suddenly make $250k a year, and are just bending ignorant people over for the money, trying to convince them that the vast majority of those jobs are hard to do or can’t be done on your own. Guess who now maintains their own tankless water heater? Yeah, this guy lol. Up yours, greedy plumbers!

[@percivul1786]

They do it because people are both lazy and they allow them to get away with it. I don't blame the plumber... I blame the client.

[@Rachelbdot94]

My boyfriend is a plumber and he makes $25/hr as a service tech, so he’s not seeing the dough, but his company charges about $260/hr to be on a job not including materials, so you’re right about the markup and how it drains the homeowner! But his boss is the one taking home enough of that the cash to buy an $80k+ new truck, while my partner and I are struggling to put cash together for a down payment on a fixer upper starter home in the sticks.

[@cb5516]

​@@percivul1786Yep. Back in the day my parents would have never called a plumber for maintenance. They learned how to do it themselves, and asked others who knew. All the information in the entire world is available at their fingertips... Call someone 🤦‍♂️

[@brendad6856]

Yes! Same with car maintenance. I just changed my own brake pads this weekend. Saved $260 that Honda dealership was charging. My wheels haven’t fallen off yet. Up yours greedy Honda! Haha. My plan is to become as self diffident as possible and do whatever I possibly can myself.

[@MrFrankEast]

@@brendad6856 My fuel pump went out a few months ago. They wanted to charge me 1k just to do the labor and were gonna buy a 100 dollar fuel pump. Changed it myself in 8 hours and got a 300 dollar life warranty fuel pump anyway lol.

[@nathanielcarreon5634]

Having a house is everyone's dream, not just an american dream

[@BethSJ]

It's very unaffordable.

[@Baptized-sc4fy]

I'm a self employed contractor/master carpenter. I've been doing this for 22 years and I've worked my way up from nothing. I live in a 3 bedroom 2 bath ranch in which I had to build an addition for the second bath. There's another side to this story, I charge $100 which includes my overhead and wages but some people think your skills aren't worth it. I built a 2200 square foot addition this year for $15k by the hour (as opposed to bid) which is the framing and dry in. Some people don't want to work with an honest contractor and they want cheap. I'd say $100 an hour for what I do is extremely cheap.

[@Filmstarindamaking]

It’s not just the home price. It’s the property and school taxes that make keeping the home you buy next to impossible. Greedy counties are taking advantage of over priced home sales by increasing taxes by absurd percentages. They don’t have to do that and shouldn’t be able to do it. My property taxes tripled after we bought our home in 2021. There are people now paying more in property taxes than their mortgages. When we start abandoning these homes due to high taxes maybe then legislators will fix this problem since their will not be enough money to cover their pay or take care of infrastructure, police, fire, sanitation. It will probably be too late for some communities before this is fixed.

[@lenoxchew4732]

I love how the industry switched from "Trailer" to "Manufactured Home". Great messaging/marketing. I still call them trailers.

[@robertclubs9908]

Love your show. Thanks again for your update. 😊

[@KristineKnowles-j2e]

Thank you for ALL this information !

[@bdwon]

In San Antonio there are several reports in local Business Journals about developers actually building smaller homes, some of them near a community college campus. Google for them, maybe some are reputable.

[@ashleypello7532]

THANK YOU Kristina really appreciate you breaking down the affordability crisis and drawing attention to the bigger picture for the public. Thanks to all of your videos I finally closed on my first home in January, my only regret is not finding you sooner because of the disaster my first real estate transaction was in the Fall. We must protect u at all costs! 😊

[@markbajek2541]

I think back in the 70's the average square foot of a home was around 1500 square feet with plenty of 1000 square foot 1950's homes in that mix, now the average is probably around 2000 square foot if you consider very few 1000 square footers are being built and plenty of the old stock has been scraped and a big foot dropped on some of those lots. So the average home price to income $$ might be a bit skewed due to mc mansions and more and more tear downs, arson fires etc of existing 1950/60 stock.

[@adancewithgod]

What's really happening is not that prices are going up, it's that the value of the dollar is going down. That's where the problem is

[@Joce123]

Our modest neighborhood house prices are inviting in a like-minded group of people. Everyone is paying under $200,000 in a nice neighborhood. I see that you can replace countertops, gold faucets, add an extra bathroom...with an affordable mortgage

[@KristinaSmallhorn]

It’s rare to find a home in most areas under 200k

[@Joce123]

@KristinaSmallhorn Actually common..I check Iowa Mn Florida Missouri Arkansas..

[@KristinaSmallhorn]

@@Joce123 where in Florida.

[@Joce123]

​@KristinaSmallhorn 33619..Tampa....Newport Richie. For example

[@jonathantstorm3859]

I was now going to ask where in Florida you can find a house for under 200k? Impossible unless it’s like a dump or a trailer park or something.

[@gerryreed5573]

Great video Kristina! I was waiting for years for a Boxabl house and after one of your videos I decided to get my deposit back. Keep up the great work you do!

[@Outdoor-Adventures]

May I ask why what are the main reason you take the deposit back, the wait is too long?

[@gerryreed5573]

@@Outdoor-Adventures .....Yes the wait was too long. I realized that the Boxabl house was never going to be delivered. Too many companies are creating "Vaporware" products just to raise money. I called the company and asked them to tell me where am I in the queue to receive my house and they were unable to tell me. So I decided to find a different house solution.

[@BestBudgets21]

Wow, people are still wiring people without meeting them in person or doing any investigation work I see why the scammers are getting away with it because people are not doing their homework

[@quitaulla1569]

I want a politician to talk about how so many people are losing their homes to these greedy companies and how is going to put a stop to it.

[@KristinaSmallhorn]

Exactly. There are a couple who have introduced bills but nothing that has been voted on yet. Here is a run down of a bill themortgagereports.com/109150/hedge-fund-home-buying-ban

[@annjames1837]

You will own nothing and be happy.

[@cariwaldick4898]

@@KristinaSmallhorn They are talking about it, but so far it's been just talk.

[@KristinaSmallhorn]

@@cariwaldick4898 💯 it’s just to make them look like they are doing something but it will never get voted on.

[@cariwaldick4898]

@@KristinaSmallhorn We've got too much party politics, and no one wants to let the other side win--even if WE win.

[@icypaw6770]

I appreciate the honest and down to earth videos. It is obvious you care. Thank you!

[@DrDRE4391]

Building Codes, Land Zoning, Litigiousness ease, and County Property Taxes will continue to limit Affordable Housing.

[@reesedaniel5835]

The tick has become too big for the dog.

[@jimbowling8528]

I love your videos on the evolving crisis of affordable housing in America. I volunteer with a small charity that is trying to build a tiny home village for the homeless (i.e. individuals who don't have enough income to afford to buy or even rent, but want someplace to live other than their vehicle or a tent). This is becoming a major social issue in America. So far, we've found a piece of land zoned for mobile home park, and a few, seemingly reputable, companies that purport to build HUD certified manufactured homes as small as 350 square feet (one bedroom). Research (and fund raising) is on-going.

[@nc4tn]

I hope I live to see the day that private equity players get to spend time at USP Lee for their collusion.

[@sydcookiemonster2721]

This is just a natural economic cycle in housing. Back in 2005, I overheard a colleague saying houses were so expensive that her son was not able to afford one in Connecticut. What follows was the subprime mortgage crisis. Houses got very cheap for almost a decade. Now we’re in another peak of the cycle. Chances are we will head for a collapse in price in the next few years

[@peteolesen265]

I think you are right on what you are saying, but I think you need to consider townhomes and condos. While there are downsides to this type of ownership, there is the upside of a lower cost and you are building some equity.

[@Cyberchic2]

@@1969bones69dumb comment

[@ryanyoder7573]

The government can fix this by zoning law changes and creating incentives for builders to build more affordable homes. They can also incentivize remote work so that people can live where it’s more affordable. Unfortunately those things will reduce their tax base so they won’t do it.

[@matthewkardys6514]

Yes !400.000 house lost your minds 1000 sqf Home 56.000 now we're talking Realtor sAre Criminal ! live free or Die Doing it 🔥🇺🇲

[@ViceCoin]

Plenty of abandoned homes in America. 10,000 abandoned homes in Gary Indiana, $1 homes in Detroit and Newark.

[@prairie_dog_5443]

No one in the right mind wants to live in those $hit hole places.

[@neilfletcher4951]

This is happening where I live the UK However it seems a worldwide problem for people who want affordable housing they will eventually own... Financial institutions want rent forever because mortgages don't maximise their profits....

[@ATLIEN333]

I can feel the pain/passion coming from your voice on this topic.I am very afraid of the direction we are heading all across the United States and the world.

[@r.pres.4121]

The American dream has been over for years. Ever since Reaganomics in the 80s, attaining the American dream has become more difficult and is now out of reach for most Americans today. I am a 62 year old Army veteran with a bachelors degree and I have never earned a high enough income to afford a house and car. I have always rented and I have always depended on public transportation or on my road bike to get around. I regret going to college and getting that bachelors degree because it hasn’t helped me one bit. My Army service while I value greatly also was little to no help in attaining better paying employment. I will be working until 67 years old probably until 69 years old. I have accepted the harsh reality that prosperity and earning a higher income are pretty much off limits to me like they were in my younger years 😞.

[@caseyford3368]

Look up the patents and tech thoroughly for gasless and oiless self running generators, 3d printing construction tech, vertical farming and so much more for every part of life. We already have the answers to all our issues. They just don't want us to know about it.

[@JohnSmith-vr3xr]

You are so informative. I remember you always be sceptical about computer rendered photos. So helpful

[@l.5832]

It's not just the States. Same is happening here in Canada. Houses here are close to a million dollars.

[@andrewsaunders2865]

Try Canada - median house price is upwards of $700000. It’s nuts.

[@lucken13]

Homes in the rural Midwest are cheap, especially compared to the metro areas!!!

[@KristinaSmallhorn]

But is there work there for people?

[@lucken13]

@@KristinaSmallhorn yes depending what your looking for!!!!

[@byronbuck1762]

While there’s greed and scammers, the basic problem is we have under built housing for decades. Supply and demand. Too many cities have virtually outlawed anything but large single family homes, at the behest of existing residents/voters who don’t want any multi family housing near them.

[@KristinaSmallhorn]

agreed

[@cece121234]

My friends in Arlington County, VA is dealing with n upzoning issue. The County is tearing down traditional single family and building multiplexes on the existing lot. So much backlash from the residents!

[@markfx12]

With that background, you have become the Real Estate Fortune Teller.

[@jeannietabailloux]

Thank you for exposing this sad truth

[@jebby16]

It's all intentional. "You'll own nothing and be happy." - WEF

[@michellebowers8652]

Let’s get something straight…affordable homes are not a problem everywhere. I live in Houston, Texas, and a quick check of my middle class zip code right now for a home under $300,000 (well under the national median) yields a couple of dozen options, including nice 2,000 SF older homes with 4 bedrooms and two baths. Where affordability is a huge problem is in cities with major constraints on land and development and where there are NO homes at $300,000, and few at $500,000. Before we start blaming all of this on “greedy developers” just look at what cities have ALWAYS been unaffordable. San Francisco, Boston, New York, LA….they were expensive 30 years ago and they still are. Why? Increases in population have exceeded new construction. Just look at what it takes to build a multifamily project in CA. Due to all their regulations it takes years longer than in the Midwest or South and costs a lot more, So is it any wonder that a developer will choose to build a luxury complex versus a middle income one? The upfront costs make the middle income property a money-loser from the start.

[@jasonjones2810]

rent and house payments are high. Alot of people do struggle.

[@rosemarywilliams9969]

Question: when they talk about income do they mean after tax yearly income or before tax yearly income?

[@zuzanazuscinova5209]

Before

[@dandycox2200]

We sold our home in 2022 made quite a bit, purchased an rv and traveled for 4 months. We then came back and started looking for home to find out that interest rates were even higher and homes in the area we were looking at were too high. Our budget was 200-300k (we sold our home for 255k). We could not find hardly any under 300k and the ones we did find turned into a bidding war going over our budget. Disclaimer: we wanted to stay not only on the suburbs but a safe and nice area in the suburbs. 6 months of looking at homes every week, we went further out and found a home in budget 45 min away from the suburbs. I can remember how many offers we put in but it was at-least 6 offers. We feel fortunate to find a home less than 10 yrs old in a desirable neighborhood but it was so incredibly hard. Our current home is newer and better and to top it off our homeowners ins and taxes are almost 1/2 what we we’re paying in the suburbs. P.S. it’s still up in the air whether we would have sold our last home.

[@mymangodfrey]

Pause at 2:04, and you’ll see a nice snapshot of the idiocracy we’re all trapped in. That’s an ABC station, not public access.

[@bdwon]

Happens at an ABC station here too! Their graphics software probably is old and has no spell check.

[@peraugustesen8800]

One perspective on the affordability crisis is that most americans want a small state which means that public housing is not prioritized on a state level and across states. If the capitalistic system runs unchecked then the big players crontrol prices and the rights of each renter are limited. Each state and county shold strife for a minimum % of public housing e.g. 5-10 %. And rent can only increase each year by max 5% and only if repairs have been implemented. Also a fair rent should be dictated by central public entity. The renter can the complain to that entity which can rule what a fair rent is.

[@SerenityNowhere]

Your economic illiteracy is breathtaking. Karl Marx would be proud.

[@iWendyful]

What are your thoughts on putting a cap on short term rentals?

[@SerenityNowhere]

Fascists love to use government to tell people what to do.

[@lacuzon39000]

In 1974 mortgage interest rate was almost 10% , not 6% and up to 16% in 1981 . So on 30 years mortgage at 9.5% , your $37200 house ended up costing almost $65000 .

[@reesedaniel5835]

And today you can't buy a house anywhere for $65000

[@lacuzon39000]

@@reesedaniel5835 $65000 in 1974 with inflation is around $404400 in 2024 .

[@c0d3_m0nk3y]

I understand that people are mad but compared to other countries, 400k is still cheap. For example in Germany, where I am from, you'd have to pay twice as much while having an average income of only 50k EURs with an average tax rate of close to 50%. Over 50% of all people are renting in Germany whereas in the US it's only 36%. AFAIK, the situation in Canada is pretty bad too.

[@zuzanazuscinova5209]

Yep. Germany is terrible when it comes to homeownership.

[@mathisnotforthefaintofheart]

But in Germany, rents are, in a way, controlled. In the US not so

[@arielmatozzo2744]

Got my house 22 years ago so happy I did and paid what I paid now we are looking to sell and move to another state because even though our house is almost paid for we can’t retire here

[@marcopolo3109]

What's the reason you can't retire there?

[@randiD123]

Sounds like the biggest names in mfg homes like the ones that rhyme with: Flayton, or Sheer Valley, or Sheetwood, and more?

[@Outdoor-Adventures]

Palm Harbor…

[@j.s2507]

So true on the mess.....we are currently stuck in a horrible loan that we pay more than half our payments to interest. Of course there is no one who helps fix that and the banks sure not going to do it. Sad because we DONT have any other debt (aside from my medical/surgeries bills) and we are just dragging.

[@eattherich9215]

Medical debt can be significant and has bankrupted some.

[@vanessasimo5868]

Wow!!!! Thank you for your help & insight!

[@newsomsr2000]

Guess what the middle class is no longer here. You have to make it least a 160000 to get in the middle class. The middle class is defined as a car and a home. With extra money for savings. Enable pay the bills that are forced by law.

[@ronaldboykin9755]

The standard U.S. story is the rich get richer and the middle class get smaller. But the way the economy is set up the hard working people who pay all the taxes will leave here and go to a more affordable country!

[@brianmclean7576]

If you currently own a home and say “ so what “ - hope u don’t want to sell to either either move out of state or down size or move up / who is going to buy your old house??

[@calvinng696]

This is happening all over the world, the headlines is always been shortage of home there is nerve any mention of AFORDIBILITY.

[@timothythompson4036]

I agree totally. We live in Queens, NYC. We bought our one family house in 1990 for 181k. Now these same houses are selling for 700k. When we sell our house to retire I don't Want my kids to live in NYC. It is a great city but real estate is too expensive.

[@nickimillennium]

You must be a boomer. Sell Sell Sell. Leave no home for your children so they have to start from scratch. The most selfish generation.

[@timothythompson4036]

@@nickimillennium You must be a broke hipster. Yeah, I get it.

[@truss6282]

A real life game of monopoly has playedout in our country. The general public are owned by the winners.

[@KristinaSmallhorn]

That’s how a lot of people feel.

[@101hamilton]

Great video Kristina! Thank you for posting.

[@dazknight9326]

Morgtage for us just increased 128 per month with escrow for taxes just this month. Rediculas.

[@ayg2199]

the main difference between housing 50 years ago and today is that it is an investment option and a place to store wealth, not just a place to live. but as all cycles go, this will eventually unwind its only a matter of time.

[@Eric-wc7lx]

The rise of dual incomes in a family, the drop in interest rates from 1980 to close to zero in 2021, wage gains, and the average square foot size of homes increasing massively have all contributed to the increased home cost since 1975 (your example). Hard to compare in a vacuum.

[@JC62888]

Thank you for you honest summary of the housing crisis and some of the underlying root causes. I believe that you are correct.

[@timothykeith1367]

McDonalds recently claimed that customers who earn less than $43,000 have largely stopped eating in their restaurants. Those people arent buying mobile homes.

[@frankisawesomee]

I really think that we haven’t designed america correctly! If people who make the average income / married cannot afford a home then we have a crisis on our hands! The first 7 years of a home loan is mostly interest (but) usually in the first 7 years people get divorced, move, or something happens that they perhaps need to downgrade to a new home > this then resets the mortgage and you pay more $$$$ to the creditor. This is not a dream. America did have a (possible) dream and that was mobile homes but then… for example the lot fees in some areas have doubled or tripled (who) is the beneficiary of all this. It’s just so weird. We are pushing our dream seekers to the edge. They say it takes a generation to build a generation but our “building” is slowly being eroded.

[@hellboundTX333]

Started my career in 98. An older buddy told me to buy a house as soon as I could afford it. Waited till 2004, but should have bought earlier. Stayed in my starter Through 2008 and beyond until upgrading in 2015. The upgrade was very affordable at that time for us from a $100k to a $200k house. Since then my property value and taxes have gone thru the roof. I Can understand current buyers completely. 😢

[@DKisOk]

I believe that soon the home values will take a major dive... The Banks are foreclosing tons of houses. People just can't keep up with the payments. Even the investors over did the buying. So hold on people. Save what you can as you wait. I think by 2025.

[@EarthSurfer]

Tiny houses are an idea in search of a “home.” Very few areas are willing to develop codes and allow developments. Mobile THs are regarded as “manufactured homes,” and are generally relegated to mobile home parks. Development of site built TH communities is broadly prohibited by minimum size requirements and traditional community layout which results in high development costs. (TH do not make sense in dense areas like major cities. Land and development costs are too high.) I love the years of my TH experiment in college. I spent the first half of the 1980s retrofitting and living in a used 10’ x 24’ worksite trailer I purchased for $700. I had a lot in a mobile home park in a college town in the Deep South.

[@r.pres.4121]

Decent housing should be a constitutional right, not a money making commodity, period!

[@rondrake3720]

New Homes are lacking quality and are often too large in size in my area

[@ReigningWomban]

Facts.

[@millenialmemoirs]

I spent all of my 20s buying into doomer propaganda and believed that the American dream is dead, that marriage is pointless, that having children is impossible/pointless, etc. I graduated high school in the midst of the Great Recession. After very nearly ending my life several times between 2015 and 2020, I had a series of breakthroughs and in five years went from being single, broke, miserable in my job and hopelessly nihilistic to supporting a beautiful wife, two babies and counting with multiple streams of six figure income, A primary full-time job that brings me joy and satisfaction, and an investment portfolio that grows every week. In a few few years we will operate multiple small businesses and begin building our dream mini Farmstead.

[@twilightsprite1]

Kristina, I love ur content and honesty. I Dislike realtors, well 4 the most part. But u r ACES! Thank you 4 being out here truth telling and helping us!!! Other realtors must not like u b/c u r honest! Taking biz away from them and I ❤❤💗 it!!

[@lifeS458]

Keystone, modular homes in p a had been in business a very long time, but they're closing up.

[@floydlacroix6957]

They learned this from Harley Davison has done this for a long time York Harley manufacture would be laying off shifts and dealers would still say you have to pay more then sticker price to get one (lies) thousands are sitting in created in York.

[@godfatherofcinema]

great video and research. eye opening. thank you

[@dianabraley8307]

My hubby and I live in Colorado - average house is in the 500k to 600k range. So - I am pushing myself into 200k income because otherwise we can’t afford a home here. I have a business, I have to start another side income to achieve this. It’s like I’m a hamster on a wheel. The prices jump so quickly - it’s like I can’t keep up. But I’ll beat the system - it won’t beat me.