How Long Before PEOPLE GO BROKE! MORE LAYOFFS ARE HERE

Check out Brandon Over at Car Questions Answered: • THIS Car Market Crisis...
People are not only spending more than ever on their lifestyle in general but payments for brand new cars and the amount of people who have car payments over $1000 per month has once again hit a new record high! When will people run out of money??
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[@MichaelBordenaro]

2024 The Year it STARTS TO FALL APART...Housing Market Outlook kzbin.info/www/bejne/nWG5f4uEpNapiKc

[@vitravaah2527]

As long as there's credit cards and banks, people will keep spending. It's not about if you can afford what, it's about can you pay the minimums. And with those minimum so low people will keep spending.

[@FreeAmericanUSA]

Many American people are struggling as the White House praises 3 years of the "Dream Team." Many companies are laying off staff, and AI squeezing people out too. Bidenomics = Poverty.

[@jimshoe402]

I told u years ago the Worse it Gets the Better u will Do !!! Their SCARED and looking for Help. V Bernie😁😁😁😁

[@FixItStupid]

TY

[@markp1950]

Incredible tiny homes....

[@Dave711701]

These are no longer car payments, they are mini mortgages.

[@timaridavis400]

That’s exactly what I was saying to myself when I heard him rattle a lot those payments. That’s a mortgage.

[@Dusterdimmu81]

It is a mortgage if you live in your car. 😂

[@user-db2ob2jc2f]

Not "MINI" but "MAJOR" 😁

[@jamesbond007colt45]

Exactly 💯

[@keithdaniels5918]

You got that right !

[@Resmith18SR]

Fanny Mae married Freddie Mac and they had a couple of kids, named Foreclosure and Bankruptcy. 😂😂😂

[@debrarolland1704]

😮‍💨

[@gregorysagegreene]

and a crooked gangster Aunt called Sallie Mae.

[@toolwithintention]

Dave Ramsey

[@andrewwiener6798]

With regular maintenance, my used, 1995 Toyota is still going strong.

[@timothyirwin8974]

2005 Toyota Echo five speed with 100K miles. Half way broken in.

[@cockyhemi-123]

‘99 Camry V6. 250,000 miles.

[@xoox7469]

1984 mercedes benz 300 turbo diesel, runs like a champ😂❤❤❤❤❤❤❤❤❤no payments... Just insurance. Fuel. Some repairs, maintenance. Very good car ,I'm euro❤

[@McRemmyBaby]

2017 shit Chevy Cruze about to hit 100k, wish me luck 😂

[@IanThecrackerstacker]

Yes sir. Still rocking my 99 jetta

[@danyuljackson]

Almost bought a car this weekend.. used for 650/mo. Decided to fix the truck instead.

[@kaydublin5164]

Smart

[@jjrr2273]

smart move

[@jimmykelly2809]

Hodl

[@Mavryck_Tha_Myghty]

Check more than one place to compare rates. You can’t afford a car if you can’t pay cash for it. Cheers. Good fortune to you out there. 🦉

[@rogerbergman191]

Same here every used truck is now worth a small fortune

[@InternetUser._]

When I was a broke college kid bussing tables, I bought a $5,500 vehicle. 1 degree and 6 figures later, it’s still running fine 🤷🏽‍♂️

[@josephcarland]

Wow. 5500 is a lot of money for a student.

[@InternetUser._]

@@josephcarland That was almost my entire life savings at the time. Turned out to be a good investment, all things considered.

[@nadaname391]

I'm so blessed to be debt free except for daily living expenses, taxes and insurances. No house payments. no car payments and no credit card debt.

[@user-kz9ne3qt8f]

Same here!

[@Staticprophecy]

Jealous! Hoping to be there by the end of the year! Congrats! 🎉

[@nadaname391]

@@Staticprophecy It took a lot of hard work, and asking myself the question, "Do I really need that?'" Keeping working at it, it's doable.

[@robertmanley2687]

Me too you must be a boomer

[@nadaname391]

@@robertmanley2687 Just hitting my 60's. A great job, recently retired but still saving money. I'm in the market for a new car, I know what I want, but am sitting tight for a bit. No payments for me, I have the cash, but I'm holding off for the 2025 model so I may be able to get a better deal on the 2024.

[@greenlight6913]

Michael, the prices are crazy over the top, buy used cars if all possible and pay cash. Borrow nothing.

[@jjrr2273]

Whelp, go to your local credit union and get a loan or pull cash. THEN hit the dealership, select and finance making sure no prepayment penalty on their loan. Drive off lot day or two later bring in a check from the CU or your bank pay it off. You've just got the best price [no mention of cash], cuz they thought they were gonna stick it to you on the financing end. Cheers

[@hansschotterradler3772]

I paid cash for my car 7 years ago. Cost me ~20% of my annual gross pay. It's all about living below your means and not above.

[@madmaxxx69]

That's such a crock of crap when the minimum wage is $7.25 come on man not everyone makes 100K plus a year

[@hansschotterradler3772]

@@madmaxxx69 I came to the country with nothing except my high school diploma. So if I can manage, most others should be able to do the same.

[@truthseeker1959]

@@hansschotterradler3772Luck does play a role too, you know....just sayin’.

[@hansschotterradler3772]

@@truthseeker1959 yes, I met the right people. But note, there are plenty of people out there with similar incomes as mine that are highly indebted. So stupidity also plays a role. Just sayin'

[@richieokelberry7548]

At some point we will be limited on what we can do even living in our means

[@jeffw1267]

I deliver mail and whenever I see an Amazon delivery driver, I ask them to come work at the post office so they can have secure jobs. Several have told me that layoffs and the cutting of hours have been rampant. This is a very bad sign, when people (mostly women) are cutting back on parcel delivery. They're BROKE.

[@fredengel5896]

​@meatloafcity4446 I retired couple back. I very thankful for that employment.

[@stevo728822]

In other words, it's January.

[@palmettocynic8482]

@@AndrewGreenaway I too want to be a social parasite.

[@SLHJR0390]

theyre doing this with amazon air pilots and their union is getting invovled. They are getting very creative with staffing and how they schedule things as things slow down. they also do this when things are crazy busy and overwork these people too.

[@matthewronson5218]

I cut back on parcel delivery a lot, but am mot 'broke', but am moving later this year so have to pare down and make room for that arduous event.

[@thomasrbishop8736]

I bought a 2010 Ford Escape. I'm on social security and I can afford it. I can work on it to a point. I change the oil and I changed the transmission fluid. I even put a new Exhaust system from the converter back and that cost $400. I had some help but I did most of it. I take care of my car and I'm 73 years old.

[@rareroots]

I drive a 2000 F150 I bought new for 14k, and live in my Joshua Tree cabin I bought for 10k in 2001, good luck everyone✌

[@alexapexgod4643]

You live in a tree house?

[@michaeltorrey3603]

I’m so old car loans used to be 3 years. And I thought that was a long time.

[@robertmanley2687]

My mom bought me an 1969 Opel Cadet for $1900 I was 16.

[@nadaname391]

1973, I bought a new VW Beetle. The A/C add on was $250.00 which dogged that little air-cooled bug down, but I couldn't afford it anyway so the car was $2,195.00 My payments were $58.00 a month for 36 months. Many a night I lay in bed wondering if I could make those payments, so yeah, I'm that old.

[@michaeltorrey3603]

@@nadaname391 I had me a bug once, a 1968. Loved that car. It was used though, only cost me $1200.

[@lindylou3519]

We bought a brand new Hyundai when they first came out $1800! Looked like a Fred Flintstone car. Husband bought it to drive long distance to work (160 miles round trip) every day. He did that for 3 years. Then we handed it down to our oldest daughter. It finally died 5 years later! Best car for the money we ever had! Lol

[@dennynisevic7848]

So how old are you, 189 😂😂😂😂

[@user-gk7pq9ju4s]

There is a guy who works for one of my clients who purchased a 2023 Ford PU full size, 4 door, fully loaded, and his payments are $1,900 month! I almost died!

[@power4things]

Check out dealer "Spring" Sale ads I got in my browser margin for Chevy Silverado 1500 crew cabs (from Austin TX). The "Custom" model (cloth seats, V6, basically one model up from the work truck trim) was close to $50K - on sale. And I think this price only applied if you financed with them. Oops.

[@power4things]

What were his closing costs and mortgage points?

[@marblox9300]

We live in a Debt Society. I can't see how it keeps going without collapse.

[@Alejandro_san]

I like this collaboration style. You tie in 2 biggest costs concerns for Americans these days. Car note and rent/mortgage. Keep it up guys!

[@EvelinHolmes]

Not just for American’s.

[@JohnBobRoger]

Do u think the Internet is just for Murica? Your a USAer..Americans are North and South and Central.

[@Alejandro_san]

@@JohnBobRoger god bless America. Where are you from my friend?

[@datruth4766]

Next... credit card debt!

[@kirkbryson3120]

People need to stop buying expensive fancy high tech cars. I grew up with crank windows and manual transmission. Rubber mats, no carpet

[@prd004.2]

Those kind of cars are hard to find… new at least… fleet sales take up most if not all of the very few being made

[@McRemmyBaby]

High tech shit* cars

[@michaelmeyers3664]

My 2009 Hyundai Accent has crank windows standard transmission, no power locks, but it has power steering and cold AC. Run's great!!

[@JBoy340a]

Those older cars were very profitable for my families car repair business. They needed constant maintenance. Newer cars from some brands like Honda and Toyota can go 200,000 miles with minimal maintenance. The new cars models that are the best are boring to own, but will cheaply get you where you want to go.

[@atlantasailor1]

Get a Miata with manual!!

[@user-yy9be9mi6n]

Michael, we know that you are just the messenger. Providing facts, info and truth. Thank you

[@MichaelBordenaro]

Absolutely but you know how it goes. Lots of people want to shoot the messenger lol.

[@BREEZYM6015]

Of course he's going to like your comment. 😂

[@shannondavis5728]

Auto insurance premiums are the cost of an auto payment even with good credit & perfect driving record !!😡🤬

[@fergman300]

As more people get laid off crime, will increase. In and out burgers in Oakland, California just shut down the only store there because the crime is so rampant it’s not safe for the employees that work for In-N-Out Burger.😮

[@Resmith18SR]

In N Out in Oakland CA should be renamed to Rob N Out.😂😂😂

[@gregorysagegreene]

'Down and Out Dan' they wouldn't hire robbed them.

[@allencoffland1685]

no sweat............the genius mayor and city council have come up with a novel new franchise model............In-N-Out Burglary............a sure winner! as Cramer would say, buy! buy! buy! 😂

[@anotheruser5654]

They'll do something like they want to do in Chicago and just turn it into a state owned business. In Chiraq the brilliant communists leaders proposed they turn the grocery stores into state run because they are all closing due to crime. We aren't far from becoming the USSR complete with a total collapse.

[@ilc-nl3yy]

Save up and buy a decent usec Honda or Toyota, even if it's over 10 years old. Maintain it well, and instead of making payments, put a few dollars away for repairs. We have a 2005, 2012 and a 2014 I maintain them well. Change the oil every 3k miles instead of 5k miles. Fluids are expensive. Engines are expensive. Ever since I paid off my house, I have no desire to own a new vehicle.

[@hectorrodriguez2686]

USA manufacturers have stopped building simple, reliable cars. These new cars of today are also poor choices for used car purchases because they are too complex and expensive to repair. Bad, bad.

[@davidh8293]

You must be young. US cars built in the 80s were worse

[@JBoy340a]

@@davidh8293 definitely. Especially if the car was built on a Monday (hung over) or Friday (hurrying to start the weekend at the bar).

[@p.granger8824]

American Cars in the late 70’s and 80’s were worse but at least they could be worked on. Course, I drove a BMW 5 series and that was when they were cool cars.

[@lindaredding4743]

Think I’ll keep my paid for 2011 Mazda 3 with 70,000 miles. Don’t want or need a car payment. I’m debt free now & want to keep it that way!!

[@truthseeker1959]

Yup, keeping my 2006 Sonata with 86K miles. No car payments, just regular maintenance.

[@user-kn4xv6hv4p]

70K miles? Just getting it 'broke in'! &0K

[@smartcookie3500]

A co-worker just bought a used Pilot. He said his payments weren't that bad...$500/ a month. I thought "Damn!" Everyone else was like, "Wow, not bad!" Mind you they make half of what I do. Sad situation.

[@thearchedpromise3271]

Based on what I have been reading of people paying $800 to $1500 a month. $500 is kind of a steal! 😩

[@midsummernightsdream60]

yeah I got my tesla for only $500 per month too

[@MR..181]

If they had not near bankrupted me i would say the world is full of idiots??? ?

[@bigbanknewyork3655]

$500 is insane. Been an adult for 35 years and never had a car payment above $380/month.

[@davisholman8149]

Pilots are good vehicles. Save my daughter’s life in a roll over. They bought another one with the insurance money.✌🏽😎🇺🇸

[@verbalasswhooping]

2024...a good year to learn true financial literacy. We weren't taught this in indoctrination centers aka schools! Thanks for contributing to this space Brother!

[@Administrator7]

Bidenomics is working Great!! LOL

[@verbalasswhooping]

@@Administrator7 I'll be so glad when he retires...sick of em'! 😂

[@billya3628]

@@verbalasswhooping If you actually think the president is in charge of anything, may you & many others snap out of it.

[@nadaname391]

@@Administrator7 Building Back Better. 🤣

[@peterwilson9327]

I never let my schooling get in the way of my education😮

[@ralphholiman7401]

My wife and I have a 2016 Ram truck and a 2017 Ford Escape. We are 66 and we will drive these vehicles until we die, or they do.

[@dennynisevic7848]

@ 66, get ready , it is coming soon 😂😂😂

[@ralphholiman7401]

@@dennynisevic7848 , well, I didn’t get the clot shot, so I have that going for me!

[@michaelmeyers3664]

The....

[@michaelmeyers3664]

mark....

[@michaelmeyers3664]

of the demon....

[@texastravelers210]

People want fency cars, people want full size trucks with all bells and whistles. Nobody is forced to buy these vehicles. There are plenty of new cars for under 30k out there. Get a Corolla or something similar in that class but people like to pretend that they can keep up with everyone so they rather choose a big payment. I don't feel sorry for them .

[@davisholman8149]

I bought a luxury car from a lady who was getting a divorce. It was 3 years old & I paid $10,500! Was going to keep my Ford Escape a couple more years but I told the lady that was all I had in cash & she took it! It was a timing thing - she was leaving to go on a vacation & just wanted to get rid of it & have extra cash. Yes, those kind of deals are once in a lifetime - but keep your eyes open.👀

[@power4things]

@@davisholman8149 Absolutely! Buy from opportunity, not need. Don't be a hurry to trade, and wait for lightning to strike.

[@power4things]

I watch Michael walk past these homes with the Bimmer's, Mercedes, big Lexus SUV's and Tesla's in the driveway, and you know many of them are hopelessly underwater - and that's before the insurance and registration tax bills come. In one of his videos, he walked past a Tesla 3 parked in a drive that had a small, mis-matched alloy on the front ... maybe bent the stock rim, couldn't afford to replace, or tires worn out ...?

[@tjtj7161]

I was lucky and bought my 2018 Honda Fit in 2019 and had less than a 1% interest rate. My payment was 225/month. Free of that now too and still only have 40K miles on it.

[@s99614]

The rent, and car payments, are too damn high!

[@jamesbond007colt45]

Health insurance went up 500.00 a month.

[@JBoy340a]

Can you dump the car and get a used one you can buy outright?

[@s99614]

I paid cash for my house and car, I just like to say "The rent is too damn high!"

[@McRemmyBaby]

Yesssss

[@McRemmyBaby]

@@jamesbond007colt45loooool

[@fesenal9818]

I just bought a loaf of bread it cost me $5.29, used to be 2 for $5. I saw people are staring at the prices before picking up the items.

[@Resmith18SR]

You need a lot of bread these days to buy bread 🍞.😂😂😂

[@buythebook2677]

Not to mention that the slices are smaller! I bought a loaf recently and couldn’t believe how much less you get.

[@Resmith18SR]

@@buythebook2677 I'm retired American living here in Mexico and I just bought a large loaf of Oroweat bread for 57 pesos which is a little over 3 USD. Some supermarkets have the same loaf of bread for close to 90 pesos which is about 5 USD.

[@davidh8293]

You can easily make your own for .25 a loaf. People are lazy

[@Resmith18SR]

@@davidh8293 I'm not going to make my own bread to save a few bucks. Doesn't mean a person is lazy, it means they have the money and don't want to be bothered making it. We could make pizza from scratch and would you say people that order pizza are also lazy?

[@SC-or2ek]

I don't have a car payment I'm still driving My 1994 van i bought used for 10k Now it 30years old Pay cheap insurance Pay cheap registration It a win win

[@CalvinMorris-cf8jk]

hope you get another 30 out of it life is good without a giant car payment.

[@MR..181]

At least it will not not start becausez one tire is low on air...a

[@sailingaeolus]

Environment wins too. It takes fantastic amounts of energy - electricity, oil, coal and chemicals - to make a car.

[@MR..181]

@@sailingaeolus exactly

[@urbanteck]

I have an 02 truck with liability and its almost 100$ a month now, just 2 years ago it was only 65$

[@John-hw3ds]

My 2021 4runner will be paid off in two months😁!

[@Mr-sweeny]

I think investors should always put their cash to work, especially In 2024, we'll start to see more market diversification. I'm hoping to invest about $350k of my savings in stocks this year. Hope to make millions in 2024.

[@PatrickLloyd-]

Since risk is at an all-time high right now, perhaps you should be a little more patient but remember the bigger the risk the bigger the results. Alternatively, you can consult a trained financial expert for strategy.

[@PhilipDunk]

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.

[@JefferyDuns]

Who’s your CFP ?

[@PhilipDunk]

Her name is “Vivian Carol Gioia” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@JefferyDuns]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@Staticprophecy]

Really enjoy seeing Brandon pop up on your channel! Happy that I paid off my car which was only $250 a month and I was dropping $1,500 a month on it to pay it off ASAP. It was a struggle to do that but I’m damn glad I did it because prices are insane!! Saved me $ on car insurance too. 😎

[@tscott2340]

I did the exact same thing with me and my son's car going on 2 years now..we just keep the maintenance up..Best decision ever.

[@Staticprophecy]

@@tscott2340 that’s great!! Sounds like you’re a great parent too!! Proud of ya!

[@wd8085]

ive seen people in my office have a car payment/insurance be over 1,000/mth. That's insane that people put that much importance on materialistic items. I either hear them complain they are broke or they are trading them in shortly after they bought them and swear they are never doing that again.

[@toddprater14]

Yep people in 20,21& 22 bought new rides more than they could afford.. now food is thru the roof along with utilities and insurance going up and they are realizing they screwed up big time… this is why repos are rising fast… you gotta eat , you need lights/ heat you need a roof over your head - you do not need the latest and greatest ride- a 2010 car will get you to work just as good as a new one- car payments are a thing of the past the way the worlds going now.. unless you make big cash, they are not worth it anymore

[@larrys9879]

Our monthly trip to Costco used to cost $250-$300. Now it’s costing $450-$500 for the same products.

[@allencoffland1685]

i usually don't pay much attention to how much my costco trips take...........untill it broke $500

[@EvelinHolmes]

@@allencoffland1685 I quit going to Costco . Believe it or not I spent half as much know. Being more careful and only shop what’s needed. We don’t buy cereals anymore. We make oatmeal ,pancakes,eggs and toast. Much better for the body. Bake my own bread,cakes and cookies. Don’t eat out and drink coffee at home.

[@wyattmichaud46]

Before they go broke… that’s the hard part. I’m an apprentice electrician, living in the cheapest apartment I could find and both the apartment and my job sucks. I’m already broke and working full time plus overtime some weeks.

[@sorbabaric1]

Best wishes and stick with the being an electrician and get your training and license. You’ll be one of the skilled workers people actually need. Is there any way you can share an apartment or live at home for a while ?

[@markbone5028]

I'm a 48 year licensed master plumber and I'd recommend getting your license. At a minimum that almost guarantees a job, but also allows the opportunity to open your own business.

[@splash4891]

that is a great trade to know...stick with it...its still better than some useless college degree

[@jjrr2273]

Maybe go into your HR/accounting department ask/change your W9 to 6, something less than ten [they don't have to report] NOW dbl check that threshold, my data is from that was back in the day. Anyway increase deductions for half the year KEY POINT do not be/get spoiled by the extra money - save it AND CHANGE deductions back to 0 or 1 after the six months. WHY? You are GETTING your hard earned money BEFORE inflation hits later in the year and save/generating interest. Seriously look into M1 or Wealthfront both are excellent/cheap/low buy in/easy setup 'robo advisors' [no brainer investment accounts] and WELL worth anytime doing a google research. When you do file, you will break even [no refund] or owe a small amount [don't freak I did too]. I used to, like all too many, LIVE for the refund, that was until and old dog like myself now explained my refund was just DEVALUED $$$ I had loaned to the government ALL YEAR for FREE! You got this bruh, work hard/stay at it/keep your nose clean, your electrical apprenticeship program will set you up for life. Remember "Drink more water, Read more books and Stay away from hoes" Cheers!

[@jjrr2273]

You got this, bruh - stay at it - Suggestion, on steady/OT jobs or your entire busiest half of the year claim the max on your w9 without requiring accounting have to report, used to be 9 BUT check. Take the extra cash and set up a 'robo advisor' account [M1 or Wealthfront] both solid/been around, cheap buy in/low minimal annual fees and you can set up auto saving deposit - ANYONE can set up, its fun and actually have some great projections how much you'll have in 20-30-50 yrs. Claiming more deductions for half the year will get you more of your paycheck NOW - just do not forget to switch back to 0 or 1 after six months. Doing this, your GOAL is to break even, will receive zero refund or need to pay a small amount at tax time. HERE is why you want to do this, like too many I lived for the refund until an old like me now educated me. By receiving a refund check I just got paid back from the government devalued money [inflation] for a zero interest loan that they used for a year! Refunds are tempting and often our only savings but it usually just gets pissed away. If somehow you save it, its worth less than earlier in the year. Check out those robo advisors or others I just have both are a great way to save. Get started you're MILES ahead of half your generation being in an apprenticeship program you will find invaluable for the rest of your life! All the best, in closing, I have a helpful sign on my fridge "Drink more water, Read more books, Stay away from hoes" words to live by! Cheers ...

[@lindaadams1008]

My Toyota Corolla is 21 years old and runs great... Signing for any type of debt is a no for me...😅

[@arneminderman3770]

Great car! ❤

[@DianaPrinceitiswhatitis]

Folks are doing 10 year loans now. That’s crazy and the car payments are between $750-$1,500 per month. The Macy’s at Bayfair Mall in San Leandro here in the San Francisco Bay Area is closing in March. The In & Out Burger in Oakland, CA is also closing in March due to crime and car break ins. The company cannot keep its employees and customers safe. Employees are being offered a transfer or severance.

[@davidh8293]

Macys will be bankrupt in 5 years

[@momof4121]

Why have they extended the car payment term but not for houses? Why haven’t they enacted a 40 year mortgage as the new norm especially when Nikki Haley says we can’t retire until 70😮😢

[@Letsgobrandon827]

@@momof4121there is a 40 year death note

[@churchofpos2279]

I got out of the Bay area 20 years ago and left California almost 2 years ago. It was the best thing I did. My cost of living went down by 50% by moving to another state. I now have a cute cottage up in the mountains that's paid for. i get to breathe fresh air and have my own clean water source. No more long commutes, high crime, or homeless in my area. You couldn't pay me to go back to California.

[@trainsandlocomotives]

I’m glad my car and motorcycle is paid off. I thought about upgrading my car, but I don’t want any payments and my current car is fuel efficient and works great!

[@wanda520]

Cash for clunkers, UAW making huge benefits, interest rates, EV mandate. What can go wrong.

[@toolwithintention]

This has been building for over a decade

[@wanda520]

@@toolwithintention yes

[@TheTurdballs420]

You know why people are getting laid off? I’ll tell you why, because the rent is too damn high!

[@MichaelBordenaro]

😆

[@davidhunternyc1]

At 0:09 "We've already gone over a million times how the housing market has become unaffordable." Yes you have but we NEED you to go over the unaffordable costs of housing a million more times! The masses must fight! Congrats on your record breaking success!

[@bartcobb877]

I couldn't agree more michael....The debt number is absolutely absurd. It went up a trillion in 3 months. Like you said, "this can't go on forever:......

[@oldroscoe2590]

I watch this because I'm so far out of the loop I have no idea what it's like for a young family trying to make ends meet. The young gal at the checkout yesterday with a ring in her nose showed great concern for my cat since I was buying cat food. I'm more concerned about her future than the cat's.

[@user-kn4xv6hv4p]

She may have thought you were buying it for yourself, LOL!

[@jimba6486]

Are you from San Diego? lol. Maybe a girl with a nose ring concerned about other people’s cats are an epidemic in the US

[@montekitchens]

Personally, I don't think for a second that you would like to see our economy falter, for any reason. I have watched your channel for a couple of years and your words are always kind, and I appreciate your candor and reliable information, (as reliable as anyone can be). Thank you for the quality content and really nice show.

[@MichaelBordenaro]

I appreciate that

[@nancygreen8186]

I kept a 99 expedition for 20 years. For many years I had no car payment. I banked money. In 2019 I purchased a 2017 expedition for $27,650. It had 16k miles and was in perfect condition. I paid cash. In the maintenance book in the glove box was the name of a lawyer who traded it in to a dealership . I got a sweet deal . No interest. No car payment. Be smart. Keep your car for years. Save for the next car .

[@jjrr2273]

You got lucky, a lawyer huh, synonymous with thief

[@arneminderman3770]

​@jjrr2273😂😂😂

[@mrsterling5306]

I agree with 10 or 15 other comments! People should pull their heads out of their asses and learn how to make intelligent financial decisions!!!!!!

[@MX-CO]

I've never had a new car, sure I would like one but It's definitely not a necessity, I paid $2,800 for my daily driver, which is a nice 2004 GMC Yukon, it's comfortable powerfully 4x4 , tows my camper well. And it gets me everywhere I want to go. I think its silly how much people pay for cars. Cheaper used cars are an option.

[@telescope3]

I literally just saw the headline "Pixar Lays of 20% of its Employees", right before clicking on this video.

[@MichaelBordenaro]

And it’s only the middle of January

[@michaelsmith5583]

I bought my car for 29k in 2018, my gf bought the same car this year for 52k. So glad my car is paid off. I love my car. Also her car insurance is 200% higher than mine.

[@michaelsmith5583]

I want to buy a house and I can buy, but won’t until prices adjust from mass foreclosures from layoffs. Americans are spread thin and when they lose their job and AI reduces jobs available. There will be a glut of homes which will drop prices significantly. Then I will buy.

[@truthseeker1959]

Maybe prices won’t come down much, if Blackrock-StateStreet-Vanguard keep buying up homes at inflated prices. These are trillion dollar investment companies with VERY deep pockets.

[@jjrr2273]

Yep, things have topped out and will be reeling back - real property values are my profession/have been since the mid '80s. Relax, stay away from real estate sales people [commissioned vultures that point out livingrooms for 6% of the sale] an opportunity will surface when the ball has been sitting in the buyers' court for a while. Cheers

[@RickAP]

I'm restoring my old cars. Not paying all the BS, for what? A bunch of bloated technology? I just want to get from point A to point B with little hassles.

[@joespinella7773]

Country is gonna have to suffer before we get it right. Comfort brought us here and with little common sense

[@HillyBill38548]

It’s a shame people don’t pay attention to their elected officials. Both parties are responsible for this and I wish people would hold them accountable but they won’t.

[@coding7196]

They want us to spend? After food, gasoline, insurance and household supplies, what's left in the bank to spend?

[@marblox9300]

Long time ago car loans were normally 3 years. Now I am hearing 7 or 8 years. It's the mentality that dealers instill into people of what is normal. I always paid cash but what are people thinking.???

[@socialisttrafficregulator2015]

I learned to cook as a kid. Worked in restaurants as a teen. I make great food cheap at home. Why? Because I CAN.

[@McRemmyBaby]

I learned to poop! 💩

[@socialisttrafficregulator2015]

@@McRemmyBaby probably all that GOOD food!😂😅🤣👍

[@jjrr2273]

Yep raised to fend for myself, valuable skills a plenty and keep working hard [kinda] nearing 7 decades on the planet's surface

[@JesseDavis7373]

Brandon is very good at detailing the current car market.

[@bryanbunday781]

No car payments here, driving a couple of '07's with liability insurance only and self insuring the rest. And to think at one time I was caught up in the "new every two" fleece programs!

[@marysaltlife1427]

Go, go, go, Bryan! I agree. I've got better things to buy or even save my money.

[@lakeseminole]

Friend works as a salesmen at big dealership on the west coast of Florida. Even on their used car sales, they have what they call 'THE PROTECTION PACKAGE" for $3,000!!!!!! So, if you buy a used car for 7k, you are going to pay at least 10k plus tax title registration and so on. Their protection package includes scam stuff like nitrogen air in your tires!!!!! And, people still fall for it!!!

[@eharminc]

I’m driving a 33 years old 3 series bmw my car value around 13k I’m happy with that . My wife drivers older wranglers she loves it. We don’t want car payments we had new car and EV before we don’t miss at all!

[@mach179]

I saw rental space for a mobile home was $575 per month in Holbrook, Nevada. Holy cow, Holbrook is in the middle of nowhere. A small house in Carson City, Nevada, rents for $2,000 per month. If you make $25 per hour in Nevada you are considered a "rock star." Not sure where this is going to end.

[@JBoy340a]

Mobile home is bad deal if you don't own the land it is on. They have classes showing the park owner how to make money by raising the rents so people cannot live there and are forced to abandon the mobile home for back rent. Then the park owner can rent the trailer and the land.

[@carolbagwell6769]

And old mobile homes that used to sell for 5000 are now priced at 80000.

[@noellecms]

@@JBoy340athe park owner cannot simply force you to abandon your property. There is a process called foreclosure. They have to take you to court and WIN and put a lien on your property in order to do that. It maybe cheaper for the landlord to let go the tenant then to go through that process.

[@JBoy340a]

@@noellecms If you cannot pay the new rent then they can foreclose. And going to court costs money that some people do not have.

[@healthyone100]

i live in upstATE n.y my lot rent in 2012 was $280.00 a month now 12 years later its $345.00 a month that's only $55.00 in 12 years i've got the best landlord in the country he only raise the rent when his taxes go up, i ain't going NOW WHERE!

[@kennethyoung2077]

But they must be really proud when they park that new car in there driveway, all the neighbours are envious. Lol.

[@philliphall5198]

There laughing at them for being so stupid 😊

[@dimitriberozny3729]

It’s not the shoplifters you have to worry about NOWADAYS,it’s the CEO’s who are the real crooks!!!

[@user-qf1ln3dr2i]

Owning used cars and renting houses was once a way to save money. For rent and one car we are easily paying $4,000 a month when you account for rent, insurance, and house utilities. I’m not even trying to live above my means, it’s crazy

[@detroit163]

The average car is parked for 95% of its life,, you are paying 1000 a month to not use it. people just buying things to show off,

[@robertcovino4889]

My mortgage payment is just a little more than the average car payment. That’s nucking futs man. I have a family of seven 😂 the grocery bill is a bit high right now…This timeline is crazy. Have a good evening everyone 🍻

[@macevedo4]

I can't afford a new car or truck. Will just keep my old Dodge Charger.

[@chargermopar]

I still have my 1969 and 1970 Chargers.

[@calientemac1]

People also sometimes don’t think about fuel and maintenance costs. Maintenance cost has gone through the roof, parts have went up and are limited.

[@splash4891]

exactly! this was about 20 yrs ago, but I was paying about $800/month for the privilege of driving... in total for my car, a Toyota Prius (car payment 400, insurance 125, gas 75, anticipated maintenance cost 25, parking 150, and then don't forget annual tags/registration and regular carwashes) it ALL adds up...owning a car is a money pit...sometimes I wish I just could get by w/an electric bike

[@coldplaychica]

Very true 💯

[@georgedreher2322]

@@splash4891 Just read an article just this week about many batteries on electric bike catching on fire. Good luck with that electric bike !!

[@splash4891]

@@georgedreher2322 good to know, havent purch one yet...maybe in a year or so they will improve on that, thanks for the info

[@jjrr2273]

New cars are junk, how many besides maybe Toyotas/Lexus, are built for 200k+mi anymore?

[@scottwalker678]

I will keep my 2004 car . lol .... I refuse to pay the prices they are charging and since I live in Florida there is no road worthy test . So I'm good .

[@jameshall1648]

I can remember driving when I was younger a $500 car, then $1000 car, then more and more as my income increased. None of those cars needed full coverage. I think people have gotten this entitlement bug and that is out of control. Yes, prices are up but so is the other side of the stupidly. If people would stop backing in to all the price increases maybe the prices would come down, but these companies are still making money with the price increases based on the law of large sales numbers.

[@Markusx26]

In my opinion the "Perfect Storm" is coming up. Stock prices are out of control, US Debt is now over 34 Trillion, huge Credit Card debt, Student Loan debt, Economy starts to go down, the overpriced Car market fires now back, Insurances and Taxes go through the roof, Food prices up 30-50% in the last years. Just a matter of time till the housing market, which is here and there overpriced by 300%. I think this will shoot the US Dollar out of his position as world currency what will demolish the Dollar. Also in History we see that every time a leading world currency falls the land behind it was broke for 10-20 years.

[@joshfrench6426]

Every two months there's a one trillion stop gap for government spending as well

[@midsummernightsdream60]

heard all that in 2008 and s&p is up 400% from that high too.

[@truthseeker1959]

@@midsummernightsdream60Things are different now. U.S. debt is much higher, BRICS nations are forming their own gold-backed currency, and Globalist psychopaths are about to force digital currency on us to roll out tyranny. 😳

[@robertmanley2687]

I had a car in the 60's my friends would push it and I would pop the clutch with car in first gear to start. $500 bucks.

[@toolwithintention]

I do that with my car today Works like Freddy Flintstone

[@jjrr2273]

My VW $325, pop the clutch and it would ride like a four wheeler just needed a full tank and a bag of premix under the hood!

[@rodneywalden5358]

Loyalty is a two way street, but corporate America doesn't care about the workers when it come to their bonuses and bank accounts. I thank God for the foresight He has given me. Call me tight fisted, but my focus on debt management and PYF (Pay Yourself First) that we are able to survive in this current catastrophe.

[@lucythecat12]

5 bags of groceries at Trader Joe's $250 😮

[@Somebodysomewheresometime]

You’re lucky you have a TJ! We don’t have one in Pcola and Publix is so expensive! Literally 2 bags=180$🤦🏻‍♀️

[@rachegreenrg]

Shop at Lidl, trader Joe's is overpriced.

[@lauriegriffin1835]

Oh noooo...that's way too much 💰

[@dennynisevic7848]

Just go too Whole Foods 😂😂

[@chargermopar]

It really is mind blowing how much of a bubble the Fed inflated at this time. tech stocks are in a bubble yet again although layoffs are increasing. Over a decade of negative real rates has trained everyone to be insane.

[@MichaelBordenaro]

It’s all starting to reverse now though. All we need is patience.

[@chargermopar]

@@MichaelBordenaro Yes and be ready when the Fed tries to stop what needs to happen as they always do!

[@jonathantaylor6926]

What's crazy is investors are paying a massive premium for Apple stock but look at Apples product line.. the iPhone 15 is the same exact phone as the iPhone 13. It's not 2009 anymore... you can only make a cell phone screen so clear or the camera so good.. at some point you have refined that tech to what is physically possible or perceptible to the human eye/mind. The massive growth potential for Apple is gone. You can only dominate and entirely saturate a market once. Apples biggest competitor is last years Apple.

[@chargermopar]

@@jonathantaylor6926 The "investors" are all playing with easy money and are simply "painting the tape". They are like Ivan Pavlov's dogs salivating at the Feds easing coming this year.

[@mateofernando5066]

Just wait for all the car repos and defaults, this will nicely bring the used car prices back down to normal levels.

[@InBrz]

going lower than old normal values

[@iheartcolorado9311]

I have a 2022 Subaru Crosstrek with a manual transmission, heated seats and mirrors and an upgraded sound system and my payment is $250 a month! I would NEVER, EVER pay $1000 a month for a car, that is INSANE!

[@noogman]

The federal government needs to step in and put an end to dealership add ons. The fed doesn't seem to have a problem forcing car manufactures to add all kinds of other crap onto cars, like the tire inflation sensors scam.

[@EGoldman]

The govt is a majority of the reason were in this mess. All these regulations make cars exponentially more expensive. Add to that the insane spending and money printing.

[@JBoy340a]

Don't buy from these dealers then.

[@moringagreen6925]

Watch @ kevin hunter the homework guy. He has great info on how to buy utilizing the FTC guidelines. All of these extra fees are unnecessary and not required. People can really begin making complaints to the federal trade commission about all this and get these dealerships in check. These "market adjustments" are a no go.

[@johnjay6370]

NO! They will not save us, only make things worse!!!! What the government needs to do is just let the free market fix this issue! As long as we kick the can things will get worse!!!! Let the dealers and car market fail. Let the fast food market fail. $20 a hour for a low skilled low physical labor job is not going to help anyone....

[@rmart0510]

Honestly ive never owned a car let alone even have my license and I'm turning 31 this May. People keep telling me why don't i get a car so I can get to work, go to the grocery store to buy things, travel whenever i want to, etc. Um, why would i want to and are they going to pay for all of that for me? Id rather stick to my usual routine which is use my legs, local transportation when necessary and use other tools to bring ton of groceries without the need to pay for gas (i.e beach wagon). I only live 30ish minutes walking distance aways from work where most are grocery stores...so I'm good.

[@mariaowens5462]

The folks that are being laid off are the ones who actually do the purchasing of these companies’ products, but the folks they’re trying to please, the shareholders, do not. If we didn’t shop, they wouldn’t exist.

[@kevingriffin4123]

I had State Farm and our insurance actually doubled to $704 for six months one vehicle for six months. We ditched them before we seen the price on our other vehicles!

[@georgedreher2322]

We had State Farm Home-Owners Insurance for over 20 years. Got cancelled last year. Live in Florida. And inland, NOT near the beach.

[@MarvishaN]

It’s crazy I used to worry about my strategy now I’m worried if I can even trade 😂. I'm worried about my $200k stock account because I've heard that these economic chaos will ruin the financial sector.

[@aureliobjm]

Knowledgeable Investors still know where and how to put money during a crisis in order to reduce risk and maximize returns. See a market strategist with experience if you are unable to manage these market conditions

[@georgeh.5126]

Investing through an advisor who understands the market, however, is simpler and yields higher returns. I started working with my CFP with less than $100,000, and as of right now, I'm just $17,000 short of having half a million dollar portfolio.

[@fredm1]

@georgeh Pls can you recommend this particular coach you using their service?

[@georgeh.5126]

She goes by 'HEATHER LEE LARIONI'. Just research the name. All of this happened in less than a year after she told me what to do.

[@fredm1]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing

[@hectorrodriguez2686]

According to government statistics, 2023 GDP was driven by consumer spending and job growth. But surveys show almost half of all Americans do not have $600 in the bank. I do not see it.

[@giovannipiazza007]

Porsche Dealer in Broward County, Fl is putting miles on their new cars as loaner cars so they can sell the cars as Used so they can Jack the price higher then the new price. Total ScumBags.

[@woodfromthehood]

We the people are the keyholders. It will continue as long as we ALLOW it.

[@garethwilliams4467]

what does that mean. what are you going to do ? vote for someone else ....oh please

[@woodfromthehood]

@@garethwilliams4467 lol. Vote ? Like ur vote actually matters anymore. That's comical. What am I, a single man going to do ? Be pissed off my country lacks the testosterone to fix this issue. What u gonna do ?

[@garethwilliams4467]

@@woodfromthehood me I'm going to look after myself, make as much coin as I can, save/invest it. Try to solve problems for myself and not rely on others ... which as a single, white man is easy because no one caers about me. And I'm going to chuckle as society burns

[@woodfromthehood]

@@garethwilliams4467 I agree with most of that. Except I care about the future of this country and my fellow countrymen. Not much one can do as a single man. I need more men to stand shoulder to shoulder with. Can u point me in the direction of men ? Not enough of them left to make a change. All these betas

[@moringagreen6925]

Yep, it's time for FTC complaints. Watch Kevin Hunter The Homework Guy for car buying info.

[@josephjames259]

Driving a 97 Avalon that was $1400. Everything works, paint is good. Going to keep driving it. No car payment.

[@Invertmini1212]

Alot of My friends feel like they've been fed a lie with college. They have degrees and mountains of debt and cannot get jobs in their field and are working at jobs that don't require one.. I talked to an employer the other day and they said they're currently avoiding hiring graduates because the last 3 they gave a chance were lazy, entitled, and just couldn't cut it.. 2 of them they said were so woke they caused issues with all their coworkers... 😅

[@mr.shelly1812]

We will regress until average families will own one good car, and one "local only". I am old enough to remember when houses were built with single car garages and that was considered a luxury. Maybe not a bad thing, less gas used, less emissions, fewer accidents, less traffic, and the beat goes on....

[@hvaball150]

Absolutely. 1960 was normal and even extravagant. 1000sq ft home. 1 car. 1 bathroom. 1 TV. Etc Without the special efforts of a few select individuals.... The human condition will regress to poverty. You see it all over the world.

[@jonathanjacques7250]

Agreed

[@marblox9300]

People themselves are the blame - they willingly bury themselves in debt and have no plan to ever pay it off - they think they can operate like the U.S. government.

[@user-gz7op7wd7y]

Job cuts and layoffs are bad for the American people but great for Wall Street and it's money-junkies, this can be evidenced by recent gains on the stock market.

[@MichaelBordenaro]

So true

[@spoonmansacamano5768]

Society has to take a lot of blame! Too many people willing to over pay for everything and anything. So of course sellers are gonna increase prices if we are willing to pay it.

[@janicemerchant-blakely4866]

For myself and my husband we are retiring in Merida Mexico. Selling our condo in south Florida ,that’s on the water, and we are out of here.. Keeping our small rental home a little up state and see how that pans out. Just crazy expensive in south Florida for every thing. Merida Mexico way Less stress, way less taxes… look to Merida México people …also way less crime! Just an hour and a half flight from Miami. We do have options for those who are remote workers and those retired.

[@truthseeker1959]

How much is rent in Merida?

[@janicemerchant-blakely4866]

@@truthseeker1959 way less than Florida…I don’t know what you need but $1000 a month would cover most couples. Look on line about Merida.

[@Guido_Sarducci007]

I live in SE, PA. The "Beauiful People" have run out of funds and their luxury cars are looking filthy and beat to death. Brake dust caked onto the front wheels, zero shine, mysterious mechanical sounds. Wow. Driving worthless, hammered, junk.

[@billredding2000]

No, a 5.8% interest rate or even 5% wouldn't be enough, not at all. Would NOT get me to buy...unless home prices came down big-time. Will they? Who knows. I'll keep waiting, thanks. -- BR

[@raymondlin8728]

Bought a used 1995 Toyota corolla 2 years ago. 70k miles. 5k$. Good deal. Runs like a champ

[@StarfireReborn]

I'm Just Wondering What Happens When All These Companies "Save Themselves" And Then Nobody Can Afford, Wayfair, Coke, Clothing, Cars? Theft. Heists? I Appreciate Your Report. And Your Analysis. Bless You.

[@MichaelBordenaro]

I wonder the same

[@johnjay6370]

You will have a CRASH! A depression is what will bring down inflation but with a depression comes lots of side effects that will cause lots of people to lose everything!!!! I do not think it will happen this year, i am thinking we are 2 years away from it because the government will not let it happen and everyone is tied to the stock market via their 401k. You have to roll back minimum wage, and increase interest rates or leave them alone. We might be beyond a recession and i predict a depression in 2 years... The government will do lots of tricks to try and do a "Soft landing".. They will run out of tricks because the free market will correct itself regardless of all the tricks.

[@jamesdelap4085]

Especially since you may end up LIVING IN your car! And "winners" are(sometimes literally)autonomous.

[@theUnmanifest]

Congratulations on all your success @MichaelBordenaro ! I've been following you a while and enjoying the ride, happy to see you keep on thriving! Fun to hear you speak about the economy, car markets etc... and not only houses. looks like you're on track for 200K subs this year, i'll be here to see it!

[@MichaelBordenaro]

Thank you very much for the compliment and for sticking with me all this time. It’s a breath of fresh air for me to branch out and not just talk about real estate. Lots of other cool topics to cover out there keeps it interesting for me and apparently for many others too.

[@avidwaterfowler7522]

There is almost no slow down here in the Lehigh Valley of PA. I know a crash is brewing, but if you lived here you would never know!