Smart People ARE NOT PAYING THESE PRICES...

It's becoming more and more obvious that smart people are not paying these insane prices for real estate. You're seeing homes sit on the market for years because people are asking far too much money and the people that actually have the money to purchase. These houses are saying no. Eventually one side will cave and will flip this housing market over. Which side do you think that will be?
Need a Realtor? homeandmoney.c...
======
My Filming and Editing Equipment
michaelbordena...
======
I offer 1 on 1 calls, book one if you'd like!
michaelbordena...
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
bit.ly/MBremin...
======
Get Cash Back on ALL your Internet Purchases!
www.rakuten.co...
======
My Microphone (Lot of People Have Asked)
amzn.to/3Mhs2oz
Articles Mentioned in the Video
www.floridarea...
peterzalewski....
www.wsj.com/ec...
www.redfin.com...
FTC Legal Disclaimer - Some links found in the description box of my videos may be affiliate links, meaning I will make commission on purchases you make through my link. This is at no extra cost to you to use my links/codes, it's just one more way to support the channel! :)
DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

FAKE MONEY EPIDEMIC is DESTROYING Our Economy! kzbin.info/www/bejne/jHeWZmVoZ9eqjZo

[@surfboard396]

Stop wearing your wife’s tank tops.

[@TwentytenS4B8]

My father was a boomer. He paid $24,000 for his house back in the 60's.

[@VgVi13]

@@TwentytenS4B8 WE bought our first home for 34,500 farm house with 5 acres. I think it was more in the early 80's.

[@madham7684]

@@surfboard396jealous.

[@edmund2j]

Imagine that, no one is buying a 1910-built 2B/2B house in a scary neighborhood for $500K, why not?

[@veraruffin3950]

Michael, isn’t walking through a scary neighborhood.

[@mrbiglicks8267]

Scarey neighborhood in St Helena? Lol

[@christopherjelen7661]

Does the house even have power if it that old

[@jimcrawford3185]

​@@christopherjelen7661 Ball and tube wiring fer sure

[@JFEnterprize]

@@christopherjelen7661prob some old abandoned knob and tube. 😂🎉❤ old bx woth askerel insulation like cloth and mud that’s brittle and breaks as soon as you tough it. I worked on a old home in Philly PA where the knob and tube was still in use. We had to tap into it. 😮

[@jasonthrash4357]

California is whacked. That 1.9 million dollar home looked like a 400,000 or less home. Really, it looked like 150,000. America has lost its mind.

[@erlingjevne4695]

Totally! I thought it must have been a joke when he displayed the price history on that old shoebox

[@alexlopez5800]

Bubble. Don't fall for the trap

[@JFEnterprize]

Checkout by Silicon Valley. 😮 a fuckin leaning one car garage will be 400k. 😂🎉❤ whoever bought in the 70’s or 80’s is doing fine now. 😂🎉❤

[@Rightround0846]

There needs to be some kind of regulation on houses and energy. Anything that's a neccesity for life.

[@mikehertz6507]

In Cleveland it's the price of a used VCR.

[@nogames8982]

That first little house was very cute. Would make a great little family home. But the price? They have absolutely lost their minds.

[@richshea7739]

Everything is whacked. How can any young person afford housing or afford a family?

[@michaelwilliamson3551]

You're not paying for the home you're paying for the community and lack of crime

[@michaelwilliamson3551]

The thing that makes it a family home is the zero crime and if there is something that happens the police will be there within minutes

[@rodcoulter997]

“Unrealistic Pricing” is a huge understatement….in most markets including Florida. That house would be $125K

[@elizabethwolfgang4017]

In SE Wi, that house would be listed around $190.000. Maybe less because of the corner lot (higher taxes)

[@TropicalTodd]

Where I live in Florida it would go for about $185,000.

[@Horatio1886build]

I know ! Really those houses are very “ average” middle class houses in “ normalville”

[@wayward03]

Small lots in my area are 150-250k bare without any prep

[@FourthWayRanch]

Ya but the weather is perfect year round in california. Florida, stay indoors most of the year, then theres the bugs

[@mrzack888]

Home prices needs to go down 80%

[@valsomeone2180]

@@mrzack888 right, they need to accommodate you.

[@hvaball150]

​@@valsomeone2180no crap, right?

[@offbeatscratcher]

I’m worried that home prices go down and stay down not like last time where they bailed everyone out.

[@MichaelGiordano777]

It would have to go back to the prices of 2000 for that kind of drop. We're close to the bottom in most housing markets.

[@HillyBill38548]

@@offbeatscratcher. The only bailouts were given to Wall Street, Big Banks and corporations. The average American was left out of the bailouts

[@Dentalcoverage4u]

That little dump isnt worth 80k

[@picklerix6162]

That little house reminds me of a house I saw near Boulder, CO. I think that house in CO was $700k back in the 90’s.

[@alexlopez5800]

It's a bubble. Don't fall for the debt trap

[@jimcrawford3185]

I bid $52,500

[@dje-slick6890]

More like 20k...😂

[@dje-slick6890]

It's A God Damn ..Shoe Box Home ..!

[@demicali-girl1217]

I am a boomer, no one gave me anything. I have lived paycheck to paycheck all my life. My parent died low middle class and raised 7 children. My parents worked to the bone until the day they died.

[@Peter-tk6rm]

That was depressing 🎃

[@solskengroupllp2758]

All the taxes they paid in their entire life moved an air craft carrier 6 feet.

[@mwtichenor]

Welcome to the club. I’m a millennial with 3 other siblings and I got jack shit for inheritance. I graduated college at the peak of the recession, then doubled down on my education by getting a masters degree in a STEM field. And while I’m in my prime, the labor market has turned to shit… again. I’ll survive this one, but it never gets easier. If you squandered your advantages that is on you.

[@bobjayp]

@@mwtichenorvisit your local military recruiting center. you will never look back.

[@nogames8982]

I keep hearing there’s a housing shortage in this country. Baloney. There’s an affordable housing shortage in this country. All those houses would sell very quickly if they were priced reasonably. But they never will be.

[@Francisco-po1cf]

Lots of golden handcuffs out there. Had to get in before 2022 to benefit from it. Following the wrong advice has caused people to wait. Now it’s harder to buy and it’s going to get more harder.

[@shanenice5380]

up north I lived at Pennsylvania people buying day one in market

[@scottiswatchingtele]

Tell me what affordable means when the government goes foreigners flown in $5,000 per month to make your competition for housing and everything else backed by government not their own wallets

[@scottpollan6364]

I have a MSc in economics and won't touch real estate. The Fed just started the 18month price slide. I'll be buying a house in spring 2026.

[@E.S.86]

Same bro

[@sues3218]

Same here. In the meantime I will just keep setting aside more and more money until then.

[@scottpollan6364]

@@sues3218 do you put the cash balance in something like short dated certificates of deposits (CD) or series EE or series I bonds? Great ways to take advantage of at least some earning on the money

[@BillySBC]

So prices of homes will be 1/3rd of where they are now in spring of 2026? Because that's what it's gonna take to bring sanity back to that industry...

[@scottpollan6364]

@@BillySBC that's not what I said at all.... when it comes to price, real estate is local

[@Jeannified]

Beautiful little cottage, but $2 million?! Crazy!!!

[@Jane5720]

Cute but… wow!! Too high

[@marcwitteborg4789]

I have rented a home for 13 years. I have a new water heater, furnace, washer dryer. And it cost me nothing. I pay a lower rent because I don’t smoke or do drugs. My landlord does not want to take a chance on getting someone renting his place that will start growing Marijuana in his home and he can’t do anything about it. So I get a good rate because I am boring and pay my rent on time.

[@hvaball150]

I have owned my house (97% mortgage, 3% down) for the same 13 years. I pay for all of this. $36k per year roughly. $470k in total now. However, if I sold my house today and started renting, I would have been PAID to live in my house these 13 years. All costs: mortgage, insurance, flood, power, water heater, air conditioner, lawn crew, etc. Basically "Negative rent and expenses" to live in my house. Cut me a check for $500k net to me today. I can go rent the house next to you then. Rent has its place and time. I don't think you timed yours right.

[@Avo7bProject]

I'm a landlord, and I follow this philosophy with my tenants. They've all been there for several years or more... no drama, no neighbor disputes. They only call me if it's justifiable, such as an appliance is thoroughly kaput or the HVAC fails. I have kept their rents below market to encourage them to not leave and put me through the hassle of refurbishing a unit and gambling on new people.

[@FreshGrey-pm4vw]

Where at?

[@joechughtai3155]

I'd keep you too, it's a win - win can't complain about that.

[@gugy68]

Yep. Many landlords will charge less for not having headaches. My father-in-law charges good rates for his office buildings because the tenants are on time and don't give too much headaches. The idea is to find a good balance and build a good relationship between the parties.

[@rexchizzy5628]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[@gracedaniella9073]

Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦‍♀️ of myself because of low finance but I still believe in God

[@desmondziko8511]

I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Lisa Annette Robinson 😊🎉

[@ken__shanzy7534]

Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?

[@mariamiracle5754]

She's always active on Whats~App... 🎉

[@mariamiracle5754]

Her number down below ✨

[@miloauker8706]

That first house would sell for $450-$500 in the Jacksonville, FL historic district on the St Johns River. 1.8 million is ridiculous.

[@ReiShirouOfficial]

Sounds like you know about Jacksonville Any chance you know why it has so many multi family like 4 plexes? I’m in Tampa and there is barely any 4 plexes Is Jacksonville a bad market for multi family people?

[@rosshebert2764]

@@ReiShirouOfficial it’s a joke man litteraly i don’t care how good the weather is in California i’ll just run my ac here in Louisiana an pay extra bill

[@titolovely8237]

@@rosshebert2764 ditto from texas.

[@thepatriot9136]

And 450-500k is still too much in Florida

[@RodneyDangerfeld]

$160k in my state.

[@shawnlinnehan7349]

A country full of renters is a collapsing country.

[@lori6156]

By Design - Cloward Piven

[@divergentone7491]

Just like Klaus Schwab said, "you'll own nothing and be happy"

[@Z3N_P1AYZ]

everybody rents.. nobody owns anything .. if you think you own anything you are sadly mistaken. cant do what you want with the county's land.. + stop paying the county. they take their house n property back...

[@Francisco-po1cf]

@@lori6156I agree that it’s by design, but why isn’t this guy advising people to buy before it becomes unaffordable? He bought a condo in Florida but giving so much negative information about home ownership. Why isn’t he renting? Maybe he’s enjoying the stability and other benefits of owning something.

[@Francisco-po1cf]

@@divergentone7491you’ll own nothing and be happy if you sit on the sidelines hoping for a big crash.

[@emorales6988]

Half $1 million for that little house for that price I can stay in a hotel for 15 years. Breakfast, maintenance and utilities included, have Room service, come in every other day to make my bed and clean up.

[@emorales6988]

With the money I saved by not paying taxes and homeowners insurance. I can lease a car for a year and change it every two years.

[@Singlesix6]

And after 15 years your money is gone. Poof. 15 years after buying a $500k house it just might be worth a million or two. Not as dumb as it seems at first glance.

[@Maynardd]

Are you kidding me? 1,000,000+ dollars for that house? I have a 12 year-old house twice the size and looks twice as good for $299,000. No wonder why no one’s buying it? Because only a ignorant person would.

[@kenchu5900]

Well, the house itself probably cost around $50k. The other 1.7 million is for the land and location. I have no idea why anyone would pay that much for it.

[@Maynardd]

@@kenchu5900 I live on on the waterfront on a 47 mile long river that is literally the busiest waterway per capita in the country. Over 40 bars and restaurants. I’ll take that over that house’s location any day..

[@wxxw-pc7qq]

@@kenchu5900 land is not that expensive there

[@user-cl5ov9dx5o]

Housing prices are ridiculous. Less than 6 years AGO, that home would sell for $40K.

[@nogames8982]

I’m sure it would sell for more than that considering where it is. But the price today and even four years ago is so insane. I don’t understand why. Anybody would pay that kind of money for that.

[@elizabethwolfgang4017]

If that house was taken care of & updated, 10 years ago woulda been around $85.000 in SE Wi. If not maintained, but kept decent about $45-$50,000 because of the lot.

[@lauriegriffin1835]

Not in Napa

[@Serendipity_Glows]

​@@elizabethwolfgang4017 As a Wisconsinite, I totally agree

[@Singlesix6]

@@lauriegriffin1835 They just don't get it. Not in Napa and not on a little island in the Outer Banks of NC. Don't want to buy one and pay through the nose? Then you can rent one by the week until your money runs out.

[@bobsacamano7653]

Why millionaires choose not to buy these homes is because they want to remain being millionaires.

[@michaeladdington1447]

Taxes! This my 6th. Home! It's a double wide! Proudly live here. Taxes this year $200.00😊😊

[@andrewgleason586]

@@michaeladdington1447 awesome,low cost living,same here, home ownership is the way too go...

[@jimcrawford3185]

One acre bldg lot in AZ desert is $52 I m pretending to build a house and live in my car

[@Turner-Be-Thy-Real-Name]

If I was going to pay 6 figures for a house, it's not going to be a wooden doll house no matter it's location.

[@TropicalTodd]

My friend, who is a circulator nurse in California, earns $95 an hour and constantly urges me to move there from Florida for a higher salary. I'm a med/surg nurse that works overnights in a hospital that I for the most part enjoy working at. I earn $48 an hour, but with overnight shifts and differentials, it amounts to $58 an hour. Although the cost of living in Florida has risen, I believe I am faring better here than if I were to pursue the higher wages in California. My mortgage in Florida is from 2012 and I only pay $1100 a month which includes taxes and insurance. I have the Florida home stead exemption when I bought the place in 2012. I know I would pay way more in California.

[@johncorson6599]

Don’t forget the state income tax in California .. worked there for a year as a contractor and it was at least 10%

[@AnimationByDylan]

$95/hr is just above poverty lev here

[@SD-ts7eb]

Don’t move

[@pinschrunner]

Definitely you are way better off in Florida.

[@JNoMooreNumbers]

You're 12 years into your mortgage. I wouldn't. Paying more into a principle to pay off quicker would be cheaper than the same house in California.

[@zbynekII]

That pile of wooden planks is hardly worth of 50 k.

[@bigvalley4987]

😂😂😂😂. I am on the floor. Not a pile of wooden planks 😱😳😂😂😂😂

[@billya3628]

Taxation is extortion.

[@Rick_Kn]

Inflation is taxation. Inflation=extortion.

[@TheSerenity63]

Theft

[@jimcrawford3185]

Burglary

[@JohnnyJenkins]

I write that on the my checks and tax returns to the IRS proudly.

[@11Bravo84]

😂👍🏻‼️

[@matthiatt6834]

Some companies are pricing themselves out of business

[@hvaball150]

All companies price themselves out of business and go to zero. Even Sears. Walmart will. Target will. Amazon will. Just for perspective.

[@scooterscat3309]

Tupperware filed bankruptcy even after closing its us plant to mexico. Such a great economy I'm shocked.

[@GlobalAdventurer]

I hope they still keep certain items in stock on somebody's website.

[@HillyBill38548]

You have nothing to worry about. And her first week of office she is going to start addressing these issues. She won’t do it now but for some miraculous reason, she’s going to fix everything in her first week.

[@NoDaysOff-oz2zl]

I think there's enough Tupperware in the world. The old stuff really lasts!

[@pinschrunner]

I LOVE RUPPERWARE. Need to collect some old stuff. The new stuff is junk

[@Lucas-wn5wm]

Problem is their product lasts too long...liek mine been in my home for god knows how many years

[@rjg7112]

Almost $2 million for what appears to be a little larger than a tiny home? Yes, even if I had the money to buy, I wouldn't. At least where I live you would get a 4000-6000 square foot mcmansion on an acre lot for this price.

[@tizzx4945]

I saw a hotel in Napa Valley for 1600$ a night! This is just crazy!😆

[@MaxWolf-s9y]

I also rent out my apartment for $1500 per night and I am not embarrassed by the fact that for this price you can rent the same apartment for a whole month. I don’t want to spend the whole month at a friend’s place, but I like money, so I’m looking for someone with money who will pay this price. I’ve already been lucky several times this year, I earned as much in 4 nights as others in 4 months. There are many fools with money in the world.

[@jimcrawford3185]

Sounds like Zimbabwe dollars to me

[@SometimesYouNeed]

@@MaxWolf-s9y nice story bro

[@MaxWolf-s9y]

@@jimcrawford3185 You’ve left me puzzled with your suggestion. The thing is, I was paid in cash, and I simply counted the dollars without looking at them closely. It's possible that I was paid in Canadian dollars, Australian dollars, or even Zimbabwean dollars. I’m not very good at distinguishing between them, and my eyesight isn't great. I guess I’ll need to dig out my cash to check which currency I was actually given

[@airbourne2]

Wine country draws visitors from all over the world.

[@chronixchaos7081]

Dropping $2,000,000 on a house that’s 120 years old sounds like a typical London purchase.

[@well-blazeredman6187]

Brits seem to value 'character' properties; Americans value new.

[@rosshebert2764]

those house prices are a joke really who buys that

[@alexlopez5800]

Companies pay people to buy for them. Don't be fooled

[@bruceaeschlimann7833]

New Yorkers

[@kevinschlosberg7124]

Most “millionaires” are too smart to overpay for over valued properties whether in the Napa Valley or anywhere else. Most “millionaires” are interested in holding on to their millions and not seeing their $’s evaporate because they over paid for a house.

[@theAncientGardens]

$200K for that four-year listing would still be a ripoff😂…

[@rapidfirerepublic]

A million, let alone 3 Million, for an 857sqft shack? That's nightmare fuel. LoL. California is bizarro world.

[@syoung4471]

I can say a million dollar homes right now is completely different from what my min standards would be if I was paying that much. I looked at a couple places with wall AC in that price range. Central heating and cooling is a bare min for that price range. Actually anything over $300k should have central heating and cooling period. That is non negotiable. The next min is the kitchen should be up to date if it is an older home. I don't want to need to spend $65k to redo the kitchen first thing. Some of the places had what I consider sub par kitchens. Also, the taxes is so true. My husband is friends with the guy two doors down and we found out his property taxes are double ours. He bought a few years after we had already lived here, so if he sold it I'm sure it would be even more for the next person.

[@Lynnette-e9n]

69 yr old boomer here. We bought our first home in 1981. Our home was 63,000 with interest at 17%. We have always had to have a dual income. Back then those entering the work force without a college degree made 1.69 an hour! Cry me a river!😢

[@rfink222]

Most Californians bought their houses when they were normal prices. Now they are real estate rich. They can sell, retire and move to a cheap state.

[@jonathanjacques7250]

Yep, that's us but we're not moving.

[@Francisco-po1cf]

Yup. It’s going to get even more expensive

[@scottiswatchingtele]

Not the owner of this house, or his neighbours

[@kkii729]

I can't believe how awesome this turned out!

[@sierrasky2491]

When moms went back to work in the seventies but also volunteered to put half of their paycheck towards a house along with the husband. That's when home prices started to climb. Now both parents are offering to work three or four jobs just for a stupid house.

[@debbiec6216]

It depends on where you live . You could buy a home at a reasonable prices back in the 70's.

[@byoung5520]

Boy it’s all about location………reminds me walking around Martha’s Vineyard in Mass. Cute little areas and little old homes but the prices are ridiculous. It’s beautiful there but it’s not worth it

[@kathyschlect4852]

Snobs.. they sniff you out before you get off the ferry there.

[@truthseeker1959]

Obviously, those living there think it is worth it.

[@sandrahintz2617]

I am a boomer who bought home with my new husband in 1980. Paid 69,000 for a house on 2.5 acres in cave creek in Arizona. But interest was 9 percent back then. Now sold 3 years ago waiting to buy next home.

[@suemurphy1730]

I would suggest to anyone, especially younger people who want to buy a home in the next few years - act now like you are making a mortgage payment. Include taxes, insurance, a rainy-day fund, the cost of buying a lawnmower, a new water heater, etc. Assume you will have a minimum of 10k each year in unexpected house needs or issues. Now pay that every month to yourself, and then keep your hands off of it. Use a high-yield saving (on-line), then start laddering some CDs. But do not touch it for anything - no cars, vacations, etc. After a few years you will have learned you can do it for home ownership, or that you hate living that way. Either way, you will accrued a decent savings.

[@CMBBmc-jd6ur]

Good vid, Michael. I’m a boomer and completely agree that buying a home was much, much easier for my generation.

[@jakeforrest]

I have twice tried to rent a place through Airbnb, where the host was not allowed to do so. I was instructed in one of the cases to sneak in of a faulty door on the sixth floor at the parking area, to enter the building, which was a semi skyscraper. Well, the place was nice, but it was a little stressful to have to sort of sneak by the front desk every time I wanted to go Out and in.

[@BigHoTzMuZik]

Prices are not coming down in Northern Virginia; move that same house from Portsmouth to NOVA and it will jump to 600k to 1.2 million with zero land. Anywhere 2 hours away from D.C. government or datacenter’s is gonna be outrageous. Townhomes are selling for over a million and people are buying them so fast you would think there’s a fountain of youth in them.

[@helenamuniz5269]

Go Where You Are Welcome.. That Means Where You Can Afford.. Clearly they are chasing people off these properties

[@ToadsandTurbines]

Absolutely! Try to visit these crazy places if you wish but make sure you have a two-way ticket back to the home and community you can love.

[@alexlopez5800]

That's the problem. Everyone is thinking that and exasperated the housing cost across the country.

[@helenamuniz5269]

@@alexlopez5800 Can't blame them 🤷

[@helenamuniz5269]

@@ToadsandTurbines Right👍🏻

[@helenamuniz5269]

@@alexlopez5800 Can't blame them🤷

[@MCC876]

The cost of buying your first home between the boomers and young people today clearly show our lowered standard of living.

[@michaelwilliamson3551]

I'm not buying any more expensive house just because of the property taxes. Something needs to be done about the property taxes soaring every time the value of the house goes up. I think that's stopping a lot of people

[@truthseeker1959]

Bingo!

[@sues3218]

I am a potential buyer who will NOT pay these prices. I don't care about the Fed lowering interest rates. I won't buy until the prices go back to pre pandemic levels. I can wait. I will not enter a money trap.

[@FloridaGirl-]

Smart! 👍

[@chiefenumclaw7960]

It's not what they're Askin'... it's what the people are Payin'

[@gulfstu]

They(Bourgiose Millionaries) Living it Up at the Hotel California......such a lovely place

[@StephenJonas-k5d]

Hit 250k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in April 2024..

[@PeggyCrane-l7j]

I would really love to know how much work you did put in to get to this stage

[@StephenJonas-k5d]

I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear that you saved me from huge financial debt with just a small Investment, thank you Alesia Haas you're such a life saver

[@AmeliaMaranoMcDermott]

As a beginner in this, it’s essential for you to have a mentor to keep you accountable. Alesia Haas is also my trade analyst, she has guided me to identify key market trends, pinpointed strategic entry points, and provided risk assessments, ensuring my trades decisions align with market dynamics for optimal returns.

[@RLoger87]

Same, I operate a wide- range of Investments with help from My Financial Adviser. My advice is to get a professional who will help you, plan and enhance your management skills. For the record, working with Alesia Haas, has been an amazing experience.

[@SylwiaJewiak-j8g]

I'm favoured, $30K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to this same Alesia Haas.

[@mindthedrift.]

Shout out to Travis and Mitch

[@gibby237]

Looking forward to that interview!

[@Gisela-u8u]

I’m a boomer. First house 2/2/1 in west coast central Florida was $30,500. Cost was $200 month with $3k down. I was 21.

[@Kuulei265]

I am a boomer. I really feel that the atmosphere for first time buyers right now are totally stacked against them. Our Son and his girlfriend are going out to try and buy a condo just to get their foot in the door. Earn some equity. I hope he is able to afford this. I think though he will have a hard time finding something in his price range. I’ve tried to pass on all that I know to him. Hope it helps.

[@Lynnette-e9n]

If housing prices go down they won’t get any equity. It’s been slow but u think that prices are dropping a little.

[@marysinclair1214]

My husband always says "No one buys on the way down" Everyone is waiting to see how far the prices drop.

[@thepatriot9136]

Here in florida central and north. People are buying and builders are building. It’s not slowing down here even though people here aren’t spending as much they are still buying

[@FraaaaaankRizzo]

Like Apple phones! They buy them because it’s infectious! No matter WHAT! They keep money moving! Keep going!

[@bharris1653]

I was born in Florida and have lived there on and off several times. I don’t understand why anyone would pay a million dollars for a small ordinary home when they could move to another area of the country and get a much bigger and newer home for less than 1/4 of that price. And the taxes and insurance would be a fraction of the cost of the Florida property. True it may not be near a beach but they aren’t what they are cracked up to be, having lived near the beach in Florida. Just can’t justify that in my mind!

[@hsvkid]

I’m a boomer and you say it was easier for us to buy than today. That I don’t know. What I do know it was not easy for my wife and I to buy our first condo in 1980 at 18% interest and us making a combined $15/ hr. Things were not easy. My wife took a second job because she wanted to buy a microwave oven.

[@katydid2877]

I worked at a bank when I graduated from high school in 1976 (minimum wage). Microwaves were $400 ($2200 in 2024 dollars) for a giant thing that took up 1/2 your counter space and people “saved up” for them. We had Christmas Club accounts at the bank so people could save up for Xmas. I guess now people just put everything on a credit card.

[@DH-tp1it]

I bought a VCR and a tiny microwave at Sears and put it on my credit card. $650. It took me a year to pay it off!

[@katydid2877]

@@DH-tp1it Probably cost $150 for both today. Electronics are so much cheaper now.

[@mikelentz833]

15 dollars an hour in 1980 is the equivalent of 57 dollars an hour in 2024.

[@hsvkid]

@@mikelentz833 I dare say that living on $120k/yr today sounds easier than $15/hr then ($31k/yr). But who knows. We don’t make $120k today either.

[@bryanspayde5681]

That home you just posted is a less than a 100k home in Ohio ..

[@jimkelly4214]

How much are they in Springfield with the recent arrivals?

[@DarkwellorBZ]

@@jimkelly4214Springfield has a lot of home vacancies and few jobs…those homes are still 150-200k. Remember that there was a massive movement out of Ohio as the auto manufacturers left

[@andrew42000]

Not in Columbus

[@CrowdControl300]

Ohio’s home prices aren’t staying this low forever either.

[@NoDaysOff-oz2zl]

@@jimkelly4214 the cat's out of the bag

[@larrytennant7476]

I ADMIRE people who live in a tent or RV! SMART PEOPLE!!

[@hmj6324]

the property tax 30K 40K a year is truly rip off and disgusting. If you have millions, invest the money into something else instead of buying houses.

[@tiffanyisaacson1407]

Saw a house in Arkansas for 950,000 just fucking insane

[@tacmason]

Travis and Mitch are doing very good work, thank you for recommending their videos. Imagine how things could change - IF we can adequately deal with corruption in all it's devious forms !

[@mykedoes4099]

nobody spends 2M on a lot to keep an old house unless the house is already restored and good to go for at least 50 years more

[@nogames8982]

As long as the house has been updated and taken care of an old house can be 10 times better than the new construction crap they’re building nowadays. My house was built in 1900. When I bought it 20 years ago, the inspector told me it would still be standing in another 100 years and the new construction that he was looking at Would not be standing in 50. I talked to an inspector the other day and he said it’s even worse now. He gives the new houses being built 30 years before they literally will need to be the bulldoze. So I’ll stick around in my house that was built in 1900.

[@mykedoes4099]

@@nogames8982 did the inspector get gas at the light ?

[@mykedoes4099]

@@nogames8982 your right but not a wood frame house , and a cinder block house only if the exterior walls are kept up because if not the foundation goes

[@nogames8982]

@@mykedoes4099 luckily mine is in very good shape.

[@nogames8982]

@@mykedoes4099 I don’t understand your question. if you’re trying to be a smart Alec, it’s lost on me because I don’t understand what you’re saying. If not, the electrical is all updated and works, and the natural gas is also updated and works.😜

[@bryanspayde5681]

Never ever buy a condo.. it’s like buying a rv today !! A zero profit on your investment..

[@glennbeadshaw727]

You don't buy an RV for investment you buy it to go on holiday with 3:36

[@bobsacamano7653]

plus HOA costs

[@angelwhisper239]

Wrong. HOA is for landscaping and roofs period. It is real estate.

[@cashflowz7858]

Not true. I’ve made equity appreciation and net positive cash flow on condos. Gotta buy em right!

[@deelehey2827]

Bought a condo in Naples 10 years ago. Sold it recently for 2 1/2 times what I paid for it.

[@pierregaudet3041]

That first house in any normal city would be what, 350k? Asking for over 1M... completely nuts.

[@bobsacamano7653]

Should be $80k

[@GlendaRoan]

As a Boomer, in the mid 70s as I became an adult, interest rates were high at 8% but, it took both husband and wife working full time and our children were either latch key kids, grandparent raised or daycare kids. I admire that young adults today are doing their best to be more traditional and have a parent at home with their children. Yeah, it may look like it was cheaper in the 70s but cost of living versus income was just as difficult. Don’t let anyone tell you any different. All you can do is your best.

[@marblox9300]

West of Chicago - 2 BR Apartment - $1,700 per month. Been empty for over 2 months. Why don't they drop the price.???

[@scottiswatchingtele]

Because everyone else would want the lower price or they’ll break the lease. That’s renting. It’s good sometimes. But it’s a yearly gamble

[@truthseeker1959]

Greed.

[@Krzwl]

YAAAYYY! Your're bringing on Mitch Vexler! WOOOHOOO!!! Prepare your questions well, folks! CanNOT wait, Michael! Thank youuuuu!

[@herrdirektor1969]

Nice, little white shed. Worth maybe 50k bucks for real. But the property and other taxes will do you in.

[@jennkerry]

Watching this, makes me thankful that I bought in Delaware in 2016 when prices here were low along with 4% interest rates. Talk about golden handcuffs!! I couldn’t imagine being in that situation having to deal with everything you talked about. THANKFUL!

[@michaeladdington1447]

Dad and mom 1967 new house Was $27,000 / now $350.00

[@andrewgleason586]

@@michaeladdington1447 my mom,17000 in 1965, now 705000, inflation. 😊

[@katydid2877]

My parents bought a $10K 1946 house in 1960. Now’s it’s $120K. Very affordable, but the area got really old and the schools went to hell.

[@truthseeker1959]

Parents house in 1967 went for 25K. Now selling for 250K. 😳

[@cindykedzierski2415]

I am a baby boomer, my first home was 125k It was an estate sale. 1926 Bungalow that needed a new kitchen, bath, electric, plumbing....

[@Cooper127]

Call me a snob, but none of those corner houses for 1.8 million have an ounce of curb appeal. From the video, they almost look like tear downs.

[@tommoran236]

All these California homes would be $385k in Richmond Va.

[@alexlopez5800]

Because they are...

[@variousstuff6469]

You're not being snob but the real price of tear downs here is less than 1.5 million. It really depends though on where. There are some crap towns with hardly any millionaires and far from the ocean where you can get a decent house for less than 1 million.

[@vmj255]

Snob.

[@netherherenorthere1000]

Hello from Ireland. Thank you for your fascinating insights. The situation here is opposite! A thousand square feet semi twenty miles from the city costs €1400 to buy and €1600 to rent per month. Thankfully property taxes are below €300 per annum.

[@winniethepoohandeeyore2]

So glad we bought our house 3 years ago with a low note and have the double homestead exemption.

[@andrewgleason586]

@@winniethepoohandeeyore2 don't you have to be a resident for 5 years in the same house to qualify for a exemption????

[@winniethepoohandeeyore2]

@@andrewgleason586 No

[@winniethepoohandeeyore2]

@@andrewgleason586 Some areas when you buy a house, the homestead exemption is automatically done, some areas the buyer has to claim it by going to tax the assessor's web site, filling out the forms, submitting them or going to the tax assessor's office like we did since we live in a very small town

[@seekrengr751]

People with very high incomes, like us with more modest means, look at homes being listed at >150% price inflation in only a few years and conclude that those homes have NOT increased in actual functional value over that time. It's a market bubble, and all bubbles pop sooner or later.

[@Elizabethwells-q7f]

The housing market is inflated and oversaturated with homes being on the market with astronomical price tags just stagnant for months. It is very clear that or generation will be likely one of the most devastating bubble pops in modern history. Seeking best possible ways to grow 250k into $1m+ and get a good house for retirement, I'm 56.

[@Thompson-e7h]

I don't think here is the place for personalized investment guidance. However, I suggest consulting with a reliable advisor like Azul to ensure appropriate retirement planning.

[@Olivia-z5c]

I’m closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in over 80% profit than some of my peers who have been investing for many years. Maybe you should consider this too

[@Jasonshelton-]

I've been considering getting one, but haven't been proactive about it. Can you recommend your advisor? I could really use some assistance.

[@Olivia-z5c]

Finding financial advisors like Jessica Lee Horst who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@Richie-3wr]

curiously inputted Jessica Lee Horst on the web, spotted her consulting page and was able to schedule a call session, no sweat. Ive seen commentaries about advisors but not one looks this phenomenal

[@joechang8696]

for high end condo's, 5k+/mo, cost to rent is much lower than cost to own - mortgage interest, prop taxes, insurance + condo fees, excluding mortgage principal payments. it could be as much as 30-40% lower. Best trick is if your self-employed, incorporated. Rent the condo as a business.

[@mchaudhry9974]

I am canadian and canadians have special prices in Cuban resorts $1,000 USD per month all inclusive. That means one person can stay for this money for a whole month with food, drinks, accommodations and entertainment. American people are too gready

[@Gisela-u8u]

Wish I were Canadian.

[@Corleone_Napoleone]

@@Gisela-u8umove to Canada. I am an Easter European , moved to US years ago. I am a real man . Are you (a real woman /she /her /it)😂

[@Gisela-u8u]

@@Corleone_Napoleone I am a real woman from western Germany living in US

[@Corleone_Napoleone]

@@Gisela-u8u ahhhhh,”West Germany” 🇩🇪 , the good old days, the days of the German mark, the days of prosperity in that country. I feel you. Well , I am originally from Romania. Miss my childhood. Miss the old days.

[@mchaudhry9974]

@@Gisela-u8u never late to become one

[@MH-53E]

Wow, ten seconds before you mentioned Travis and Mitch I was thinking how to get a few of their videos to you. Crazy world it is...

[@wayward03]

Not a lot of rentals here and the management companies are a complete PIA to deal with. That's why i want to buy.

[@thnksno]

I bought 6 months ago. It was a lot more than i wanted to pay. However, we also got a premium price for our house. At any rate, keeping tabs in my new local market, I'm seeing price cuts to sell between $25k-$50k.

[@lordinquis8r679]

Thanks, Michael!

[@Ninjake67]

"Start" yes. "Be successful" there is a lot to be desired. The road ahead is going to be tough, but, you've got this!

[@cggs002]

Interest Rate cuts DO NOT prevent a Recession. Tax Cuts are the solution to prevent a Recession. Credit Card interest rates, car loan interest rates will not be affected by this rate cut. What you are going to see as a result of this rate cut is Higher Inflation and Higher Interest Rates. The Rate cut by the Federal Reserve was done for purely political reasons and is Election Interference. The Federal Reserve should have Increased Interest Rates and NOT cut them. Another mistake by the Federal Reserve. I pray that when Donald Trump returns to the White House on January 20, 2025, he FIRES Jerome Powell.

[@alexhigginbotham8635]

This is how supply and demand works. Sellers will either post a lower price or accept a lower offer if they really want to sell. Otherwise they can sit with it.

[@joeespo177]

"You will own nothing and be happy". Something about this coupled with the topic of your video today I find disturbing.

[@hvaball150]

Did you sell everything?

[@joeespo177]

@@hvaball150 I'd ask what your point was but I'm afraid my head would explode. have a cookie.

[@Tbaz-u4r]

WOW! A house just like that one in my area would be going for between $275,000-$325,000. 😲😲😲

[@jeffbuttera1680]

I like this dude.Give us good information

[@willamfrench5058]

John "Jack" Bogle (founder of Vanguard Group - $3.4 trillion in assets under management), who once told investors to "Don't do something...just stand there!" Good advice from a very smart guy. I think a lot of wealthy people are doing just that.

[@willsr.9154]

My first home was 74,000 around 1989-90 😊 I remember

[@commonmandenver7370]

Ok. Those homes you show in Napa. I found a similar home, size, age, and in a historical neighborhood in Iowa. Amana Colony beautiful area, creeks, orchards, and no crime. It was selling for $189k. 2400 square feet.! M

[@bryanspayde5681]

All the high paying jobs are leaving California! I’m in Ohio bought my house 20 years ago it’s not for sale.. but California folks are knocking on my door offering my 10 times what I paid for it …. That’s 750k .. my home in California would sell for 8 to 10 million…

[@variousstuff6469]

But you pay the price of having to live in Ohio.

[@michaelthompson729]

Summers are beautiful here​@@variousstuff6469

[@picklerix6162]

There are some great places to live in Ohio.

[@Maynardd]

If someone offered me 10 times when I paid for my house, I would definitely sell it. Why wouldn’t you do that and then just buy a different house in Ohio???

[@luke31ish]

​@@variousstuff6469 I live in Ohio, lately we had mild winters with little snow. Actually people are looking for snow for the ski season and the holiday charm...but it's not there.

[@debbiec6216]

That's exactly what it's like in this region , you will pay 2 - 4 times more for these new homes . $480K - $700K . By next year 2025 , these homes will cost more $$$$$$. Or you can move out in the countryside and drive farther to work, that's what's happening now.

[@lisadobbie7109]

I am 68 years old. My wife and I paid 12 1/2% interest on a $57,000 dollar home in 1983. We saved every nickel we could to pay it off. We sacrificed to make it happen. It wasn't any easier back then.

[@Anon-tt9rz]

I think you havn't heard about a thing called housing affordability index, no, it wasn't the same back then, it was MUCH easier, it's a statistical fact

[@Corleone_Napoleone]

However, you and your family, could EASILY eat (if your wife cooked at home) for $50/week. Get a grip dude.

[@demicali-girl1217]

My parents each worked 2 jobs to make mortgage payments on our house in 1983, 13% interest rate in Anaheim, California..they sold it in the late 90's..

[@AZPropaneExpressLLC]

65 here and you are correct it wasn't any easier then. 1985 bought our first home in the bay area in a rough part of town for $96 K and interest rate at the time with good credit was 14%. I was making about $13/hr, wife stayed home to raise our children and to say the first few years were really tough would be an understatement. Ate at home, drove old cars, a few side jobs and had no other debts is how we did it. Even today we could drive new cars but both the wife and I drive cars over 20 years old. It's all about having the right priorities and knowing how to make sacrifices.

[@omnipi]

I don’t doubt that it was hard for you, and applaud your sacrifice to achieve paying off your home. Imagine how much harder it is now, if you can

[@mikeq6384]

47 years in real estate, rule #1, the market will set the price, you can ask whatever you want, but the market will tell you what it's worth, and either you sell it at that offer price, or you sit on it and wait for your price. I've had sellers wait an entire cycle, and yes they finally got their price, 8 years later, and that mentality says, see I got my price. Again, rule #1, THE MARKET WILL SET THE PRICE., PERIOD

[@jacksfrost8467]

Looking forward to the Mitch interview. Trump needs him on the team

[@mikeifyouplease]

Michael, I am not a "snowbird", but you gave some excellent advice about snowbird rentals. You discussed some issues that I bet many of your fans didn't even know existed. Probably saved them a lot of money and grief. Good job!

[@armandodimarzio1136]

We need the Don !