The LOOMING CRISIS: Economy and Housing Market READY TO BURST!

About a week ago, I put up a poll on my channel and the overwhelming majority of you said that this economy and housing market is a ticking time bomb with over 8000 votes. Let's see what my subscribers have to say about it and why everyone thinks the economy is so bad.
Need a Realtor? homeandmoney.com/michael/
======
Like My Sunglasses? Get a Pair s.click.aliexpress.com/e/_DFf...
======
I offer 1 on 1 calls, book one if you'd like!
michaelbordenaro.com/book-ser...
======
My Filming and Editing Equipment
michaelbordenaro.com/my-youtu...
======
Sign Up for My Email list and Get Weekly Video Updates in Your Inbox!
bit.ly/MBreminders
======
Get Cash Back on ALL your Internet Purchases!
www.rakuten.com/r/NIRVPL2?eei...
======
My Microphone (Lot of People Have Asked)
amzn.to/3Mhs2oz
Articles Mentioned in the Video
#realestate #housingmarket #homeprices #housingmarketcrash
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]

“Personal Interest Payments” JUST HIT A RECORD HIGH! kzbin.info/www/bejne/a3e8eKedrbWsqpo

[@jennifercoleman2736]

Michael, I am a fan. But when your content touches on politics it makes me uneasy. The American economy is deeper and bigger than politics. Corporations are a powerful lobby group for both parties. Money is the powerful party not politics. Personally, I'm not ready to turn over the White House to a wanna be dictator who idolizes Viktor Orban and Putin. I don't want to live under autocracy like China and Russia. Soon, we could be arrested for posting opposing views against Trump and his "movement." smh 😟

[@albertoalmeida3424]

Why the eletric cables are not in underground like other neighborhoods in US?

[@faustinreeder1075]

Biden is jailing journalists.

[@FreeAmericanUSA]

MSM is ignoring reality as the nation fails.

[@Nefertum1000]

Presently, we are living with an uneasy environment of cancel culture, large government and division. Nothing is uniting us and I feel we can’t continue on this agenda, rather counterproductive for personal and economic growth. We need new leadership.

[@kortyEdna825]

I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

[@Justinmeyer1000]

Impressive can you share more info?

[@Justinmeyer1000]

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

[@nicolasbenson009]

I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?

[@Michaelparker12]

Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.

[@tatianastarcic]

You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.

[@berniceburgos-]

Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@tatianastarcic]

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

[@BridgetMiller-]

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

[@NicholasBall130]

The system is failing as a result of both government and federal policy. In the next days, the banking crisis would have to be epic and gigantic for the FED to decide not to raise interest rates. This won't happen; an increase and a crash are coming. There will be more negative portfolios this 2nd half of 2024 with markets tumbling, soaring inflation, and banks going out of business. My concern is how can the rapid interest-rate hike be of favor to a value investor, or is it better avoiding stocks for a while?

[@EleanorBaker474]

Just ''buy the dip'' man. In the long term it will payoff. High interest rates usually mean lower stock prices, however investors should be cautious of the bull run, its best you connect with a well-qualified adviser to meet your growth goals and avoid blunder

[@StocksWolf752]

Very true, you can be passively involved in the markets and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my advisor. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.

[@StacieBMui]

Could you kindly elaborate on the advisor's background and qualifications?

[@StocksWolf752]

Sonya lee Mitchell is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@grego6278]

thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@daisylavender5275]

I bought a house for $175k yesterday in a nice neighborhood in SC.❤

[@dorotamaty888]

congrats!

[@faustinreeder1075]

Well done.

[@clintonnmalenky3078]

You just sent anopen invite to people from California

[@daisylavender5275]

@@clintonnmalenky3078 Good! Come on down!!! 👍🏽

[@Steven-zj2yw]

South Carolina…. 🤢

[@fredkraus9180]

I've been in real estate and construction for 40 years in Ft Lauderdale, this is worse than 2008

[@debbiec6216]

I totally agree with you 100% !

[@gregorylyon1004]

Worse than 2008?? Already??

[@Justamillenialworkinmomma]

People keep buying here though so I don’t see it crashing

[@mowtivatedmechanic1172]

And the “pop” is gonna be so sooooo sweet. I’m just north of you.

[@paulcarlson4230]

I disagree I've been in construction 40 yeas also and 09,10,11 and 12 no houses being built so I went broke, now at least they are still building, but I do agree housing costs are ridiculous😮

[@rosemarieklei5438]

We cook at home. We are tired of being disappointed with the quality and price of food, service etc and they are pushing the alcoholic beverages. Prices are starting to come down in Northern Virginia. The realities of these markets will come to fruition, just remember it will affect everyone differently.

[@debbiec6216]

What part of northern va ??? I used to live in Great Falls , Va , long time ago . I know the cost of living there , been expensive since the early 1970's.

[@carefulconsumer8682]

I agree. Restaurant food and service has deteriorated badly.

[@socialisttrafficregulator2015]

You can get better food that you make yourself anyway, definitely on board with that notion.

[@hectorlopez1196]

Don't forget the forced tip that now is mandatory

[@carefulconsumer8682]

@@hectorlopez1196 Some restaurants in NYC also add a surcharge to help cover health insurance for the "server." Crazy, eh!

[@TheRetiredVeteran]

I had my roof replaced a couple of years ago. All the workers were immigrants. None of them spoke English.

[@adele4467]

I'm japanese. My country has been suffering from a long recession. The only good thing is the stock price. Prices are low, but wages are even lower. Taxes also rise every year. I was envious of America's rapid economic growth, but I realized once again that life in America is just as difficult as ours, or even more difficult...

[@Dre2Dee2]

It depends. Food in Japan is much much cheaper, but Japanese people live with less things. Americans have more, but SPEND more. If Americans lived to Japanese standards, we'd be super super rich.

[@plywood7894]

@@Dre2Dee2if you consider the difference in wages, it’s cheaper in the states. Try buying the same amount of meat of produce in Tokyo as you get in your city. It’s definitely more expensive there. (How much is it to buy a pound of meat?)

[@JG-id5vi]

Yall need more babies

[@glow1815]

​@@JG-id5vi😂

[@PatBlot-lm6zx]

Japan is so beautiful. The people are so polite and respectful.

[@delburnwalter2024]

Planting a garden, getting to know your neighbors, and buying a set of quality hand tools and learning how to use them would be a good start.

[@DIVISIONINCISION]

Most of my neighbors I don't want to know, didn't even want them to move in. I have a surveillance system because of them.

[@blabbergasted4380]

Renaissance man.

[@hectorlopez1196]

Not happening to.many Democrats around ruining it all for everyone.

[@sonnygsmith3207]

Don't know anything about gardening, but I do have some tools so I will be replacing the clock spring in my car steering wheel tomorrow - been putting them off👍.

[@nunyabiness1097]

I plant edible landscape on the side of my front yard, my garden is admired by my neighbors ;)

[@itchintogo7689]

Most fast food places serve CRRAP FOOD prices way to high !

[@nobleguy37]

Agreed. I haven't been eating that crap for years now.

[@uacdcalvin]

Financial planning is like navigation. If you know where you are and where you want to go, navigation isn't such a great problem. It's when you don't know the two points that it's difficult

[@RaghuvirMohanta]

People dont understand that the prices of things are never going back down. This inflation is deeper than we think. Those buying groceries are well aware that the real inflation is much over 10%. The increments dont match our income, yet certain investors still earn over $365,000 in stocks and assets. Wish I could accomplish that.

[@BraunRob]

Very possible! especially at this moment. Profits can be made in many different ways, but such intricate transactions should only be handled by seasoned market professionals.

[@ysareyes]

Having an investment advisor is the best way to go about the stock market right now. I was going solo, but it wasn't working. I've been in touch with an advisor for a while now, and just last year, I made over 80% capital growth minus dividends.

[@BigNate82]

Finding yourself a good broker is as same as finding a good wife, which you go less stress, you get just enough with so much little effort at things

[@ClaudiuDenis-hp4pf]

Brian demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit

[@factsplz2248]

Have you noticed that corporations' profits are growing x-times the inflation rate, which means their price increases are far more than their cost increases, and stock buybacks are at a record high.

[@daviddestin1990]

I worked like a slave for over 20 years, always kept a roof over my head. Since 2010 I have been homeless several times and it is a incredible nightmare just to find unaffordable substandard housing.

[@JohnSmith-ti2kp]

@daviddestin1990= Where are you, as i think that is a major difference?

[@Dre2Dee2]

And what mistakes can you admit to that ended you up in this predicament?

[@shadowbanned4days]

Lots of suckered out there,it's not just you.

[@gregorylyon1004]

Why didn't you buy land or a home during those 20 years of working????

[@Mark-pb8kj]

These sheeple are all holier than thought. 😅

[@JMcN76]

I don't see what you say as negativity. You speak as you see it and what you see stinks. So, there's no reason to sugar coat it. If anything, I'd say your videos are peptalks filled with great advice helping people prepare for the worst. You deserve way more subscribers.

[@luvfoto]

I agree

[@Cozydrone]

I have been a die hard prepper for 15 years,it gives me a little peace 🕊️🕊️

[@debbiec6216]

I wished to know more about prepping or I wished someone told me 20 years ago , at least it would given me a head start.

[@wiser3754]

And a whole lot of inventory.

[@yorsan2240]

​@wiser3754 the right pepper doesn't carry excess inventory, we're ready to produce and protect at our best ability, inventory would run out eventually and could be wasted as well , being production ready today is saving me a lot of money anyway

[@dedriannehartgers629]

Dehydrate food, have water filters. Have cash on hand. Be safe.

[@buythebook2677]

@@dedriannehartgers629how much is a good amount? Also, many businesses are cashless, which is awful. I’m just wondering how having cash will be helpful.

[@MikeLockheart]

The thing that gets me the worst is the companies raising prices not because they have to but just because they can. greedy a holes.

[@debbiec6216]

*That's called Price Gouging* !!!!! I am shrinking my choices to what I normally buy, as far as food , clothing, etc. Example if the clothing is THIN materials and looks horrible , I'm not buying . Food, we only buy the foods , we eat and not a whole lot of foods either. We are budgetting even more than we ever have in our Adult lives !!! Example I don't buy a lot of Process foods , that will make anyone sick. because process foods has to many Chemicals in it and The United States is the ONLY country , who gets away with Chemicals in the food . I seen the list on youtube. *I Have Changed My ways and mind on everything* Restaurants and fast foods , feel they can get away with RAISING THE PRICES AND PRICE GOUGE , on customers. *People better take a stand and say No , we aren't putting up with it* !!!!

[@Dre2Dee2]

You say that, and yet you incessantly bitch about getting a pay raise (for nothing in return) because YOU want more money So really its the pot calling the kettle black, huh?

[@joshfrench6426]

Mostly dollar devaluation. Price gouging is an effect of that

[@jbone9900]

​@@Dre2Dee2 classic boot licker tactic blame the poor not the billionaire trying get another billion or the corporations getting some government assistance.

[@justintempus7406]

@@Dre2Dee2If your raises don't match inflation, your boss is demanding you provide the same services for less buying power. You seem like an expert, does boot polish come in sriracha flavor yet?

[@JupiterLeo]

My condolences hearing about your Grandma, she is definitely proud of you. Keep speading the truth.💯

[@gregschramm8180]

One trillion dollars every 100 days. That can only go on for so long. Then what happens?

[@John-ou4rm]

Then you get a lot of inflation as the deficit and treasury debt roll overs are monitized. That's how the govt will get out of its debt trap - inflation. Anyone holding value that isn't an inflation hedge will suffer the impairment.

[@michaelkelly7635]

Boom

[@hvaball150]

It goes to 1 T every 80 days...then 60. Then it absolutely stops at 58 days. Absolutely. Only kidding. It goes on forever. I'm curious what you think stops it? Are we going to run out of money? Is the dollar going to lose it's reserve status? Are we all switching to Bitcoin? Only a civil war. That's all I can think of. And they are trying.

[@efrainrosso9610]

What will happen is we’ll all have no SS with bankruptcy but there will be trillions for wars and other corrupt countries to siphon our hard earned tax dollars.

[@sirwinston-nk6vt]

Nothing happens, been screaming about the debt for 40 yrs. At $60 trillion we will still read the collapse comments. Everything is fake and fine

[@kevinanderson9811]

Nixon closed the gold window giving the Fed free rein to print unlimited fiat currency. Both parties have taken advantage of that ever since.

[@--Morpheus--]

Also J.P. Morgan sets the prices on gold and silver

[@jdarst100]

The IBA consists of multiple banks, an oversight committee, and a panel of internal and external chair members. The IBA sets gold spot prices and gold fixed prices based on supply and demand as well as the gold futures derivative markets.T@@--Morpheus--

[@DIVISIONINCISION]

No. JFK was going to mandate Silver backed currency, and he was killed partly for that reason. When he was assassinated, the Fed took over.

[@paulmiller6245]

They don't print they borrow

[@HarrisonCountyStudio]

They don’t even borrow…. It’s a creation, out of thin air.

[@deenibeeniable]

Something's gotta give? That's when they said in Venezuela, right before they were using wheelbarrows to carry the money to buy 1 roll of toilet paper. It was cheaper to use the cash.

[@jaimelopez-gi3oo]

buy a bidet for the toilet, just in case the TP runs out again.

[@Ezunit1991]

Not just a bidet, solar panels, gardening equipment, hunting tools like guns/bows etc, dig septic, dig a well, raise your middle finger to all these companies.

[@hvaball150]

No former reserve currency was transported in wheelbarrows. Ever.

[@codyeynon8467]

@@hvaball150 Yet.

[@Enki1013]

Option 4: Screw it. I'm done with all the crazy. I'll just buy a trailer and live like a hermit crab, carrying my home around with me wherever I feel like driving. 🤪

[@SignorNessuno65]

I'm doing reasonably well. How? Being responsible.

[@Mark-pb8kj]

Reasonably well ain't gonna cut it. They want you to "own nothing and be happy" too.

[@fredk9999]

Agree with what our host says. Government needs to work smarter instead of increasing borrowing. No need for 87,000 new Jack-booted, gun-toting IRS agents. Jobs need to be created in the private sector

[@Getloose360]

The last thing people should be doing is work for the government.

[@ronaldlindeman6136]

but if more tax money is taken in, there will be less money in the economy causing inflation. That is why the tax increases when Bill Clinton was President worked, the wealthy paid higher taxes and the dollar was weaker and manufacturing could compete better on world markets. Bill Clinton had the most jobs created during his Presidency.

[@Dre2Dee2]

They do need those 87k people because the internal REVENUE service wants to increase REVENUE Hope your taxes are done right

[@shadowbanned4days]

😴

[@Ezunit1991]

The amount of businesses started has decline (except during covid( because people don’t have money. Keeping people broke is your companies way to keep you an employee, and stats say it’s working. No competition? Prices can go up.

[@robertlee3211]

As the person said, "The powers that shouldn't be.." They haven't created enough misery. There are still a few left in the middle class

[@jimmyjay689]

We are not going anywhere...

[@1ambrose100]

kulaks

[@shadowbanned4days]

Ppk hv allowed and installed them..lol tough luck

[@hoppeanofasgard1365]

Yep, that's the plan, destroy the middle class.

[@SunofYork]

@@hoppeanofasgard1365 Who's plan ? Not them again ? The Klingons are innocent ! lol Conspiracy theorists never stop

[@williamrice4608]

Being raised by my grandparents, who went through the Great Depression", many of their frugal ways rubbed off on me. It is paying dividends for me today as I remove unnecessary expenses from my life. You look in my wallet George is wearing sunglasses because it's been so long since he's seen the light. If you want to survive in this economic climate you must insist on value for your money, have an emergency fund, invest carefully and do as much as possible for yourself (eat at home, grow a garden, learn to can and learn to do simple repairs yourself). One more thing. Don't loan money to anyone. If the bank is afraid of them you should be too.

[@cavetroll666]

I'm in Canada and it is basically impossible for me to rent a room and own a car at the same time working a factory job being single i never even think of home ownership at this point :(.

[@debbiec6216]

I am no expert , but I say , pay your debt off and continue paying your rent . If you can , can you get a second job? or is it not possible? I keep telling people to start their parttime job on KZbin . Just make sure to have a good content . It starts out slow , but at least you are trying.

[@colettespencer3357]

That is unreal. Prayers❤

[@gregorylyon1004]

OMG

[@richardlarock2809]

Keep voting for Trudeau and Biden and things will suck forever

[@yukonstriker1703]

​@@debbiec6216always the answer, get a 2nd job. Lol. Go try that at the age of 54 . Debbie has no clue. Burnout factor is a thing hon

[@jaimelopez-gi3oo]

As long as corporations and other nations are allowed to buy up property, it will continue to go up.

[@deep6301]

Chyna

[@well-blazeredman6187]

Yep - home-purchases should be limited to private individuals, and, if there's a 'housing crisis', those should have to be citizens. If corporations want to own residential property they should be invited to build apartment tower-blocks, for rentals.

[@patrickm6012]

Foreign investment in homes actually dropped by 9.3% or $53B in 2023

[@dogownrpenna]

I appreciate the level of engagement you have with your audience

[@GerryC-1111]

So strange. We have 107 people working at our lil factory. And EVERYONE is doing pretty good! All got raises the last 3 years. People actually laugh, talk and are friendly. Seem to be pretty positive. I guess most of us that are smart with their money and work for a good company are actually doing really good.

[@TimesandGens]

I have an old SE(6), a 30 yr old car and a paid off house, plus savings … because I only compare myself to what I didn’t have. Sure the Dr across the street has two Teslas, but who cares?

[@Rethanos]

The last time they announced a new home buyer credit was mid 2008. How'd that work out

[@JoeGator23]

Exactly. Other countries did the same, scammed up for the banks to write worthless paper and enslave the owners when it collapses big time soon.

[@ordinaryhuman5645]

Things were pretty good after that, actually. Until coof panic and associated money printing.

[@ordinaryhuman5645]

Things were pretty good after that, actually. Until coof panic and associated money printing.

[@tonym.9186]

We paid off our home almost two years ago. Today we would rent. A home is becoming a dream...

[@nobleguy37]

No way would I want one in CO. right now. People are trying to sell left and right because of property taxes. I counted 13 homes for sale on the way to the store 3 miles from home yesterday. Things cost too much anymore, something goes wrong ...if it's too much, yikes.

[@queen.mama.slots.5977]

That’s the whole truth ! I’m a homeowner in California! Trust me, it’s hitting the fan !

[@standinginthegap7118]

Speaking of layoffs, my employer fired 1 person and has been cutting hours by 50% for 2 other employees and then hiring less experienced part timers.

[@soldiermike6ft259]

I agree about trying to get rid of excess debt. I just paid off 2 auto loans and zeroed out all credit card debt. Now I'm prepared for WHATEVER the economy is about to throw at us.

[@josephjames259]

Good on you! I did the same.

[@soldiermike6ft259]

@@josephjames259 Yesssiiirrr, good stuff! 👍

[@hvaball150]

How about a job loss and $50 burgers?

[@EMan-cu5zo]

@@hvaball150cut out the fast food.

[@soldiermike6ft259]

@hvaball150 Good thing I don't have to worry about job loss since I'm Retired Military with a pretty nice military pension. I prefer to make my own burgers at home.

[@azmike3572]

"This is the way the world ends Not with a bang but a whimper." T.S. Eliiot, "The Hollow Men", 1925.

[@georgeh.5126]

This is worse than 2008. The house market gave me quite a scare recently. A home is just not the best investment right now. Recently had to sell one of my homes in California, looking to invest about $400,000 of it in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?

[@fredm1]

You'll be waiting a long time, trade the chart! learn how to create a basket of securities like an expert or seek guidance from an expert

[@josephbush]

Exactly, a good number of people discredit the effectiveness of financial advisor, but over the past 7years, I’ve had a financial advisor consistently restructure and diversify my portfolio and I’ve made over $3 million in gains… might not be a lot but i'm financially secure and that's fine by me.

[@debwes1]

@josephbush Who is the coach that advises you?

[@josephbush]

She goes by 'HEATHER LEE LARIONI'. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@debwes1]

Just ran an online search on her name and came across her website; pretty well educated. thank you for sharing.

[@richardlarock2809]

Now you're talking. The spending has to stop. I'm 68, still working but very very worried about my children and grandchildren. If we don't get the national debt under control, we are sacrificing the future of the oncoming generations. People my age and older in power are making horrible decisions selfishly to make young people pay for the debt. Can you all imagine 90% of our GNP going just to pay the interest on 40 trillion. Vote for politicians hopefully younger who will not give out free money. Michael's advice is positive not negative because his plan will make your life better. I followed it for the last 40 years and am better off.

[@PatBlot-lm6zx]

My guess: The average person that watches Michael's KZbin broadcasts is significantly smarter than the average American. Please continue mentioning to young people that Congress is the primary reason asset prices (stocks and real estate) have increased so much over the last few decades. So few Americans have taken Economics 101 and 102 courses. The extra money (US Govt. debt) in the economy eventually ends up in the hands of savers, homeowners, and business owners/stockholders. There is no easy way out of this terrible financial situation: US Government debt default, inflation, or austerity. The Social Security "Trust Fund" goes negative in 2035. The other US Government unfunded liabilities are over $120 trillion. US Government tax receipts in 2023 were about $6 trillion. The 2030s and 2040s decades is going to be financially difficult. Expect more social unrest too.

[@nonog294]

Stacking cash and hoping this bubble bust that's all I got and I'm sticking with it. Don't care if it takes another 5-10 years I'm not paying these prices.

[@LeNguyen-im8dm]

Same. I am the person who hates to overpay for anything.

[@Dohair879]

Omg! You read my comment. So cool!! Debt free and happy!

[@meateater4life551]

Funny, just the other day I told a friend of mine that I can't leave the house without burning $100. The houses in my area of NY are still crazy high, and selling readily.

[@Somebodysomewheresometime]

I’m in Fla and the same - just going to parks and walking a lot. Try and stay out of stores and deleted amazon off my phone (helped tremendously)

[@dannysimonknows]

Totally understand your point; there's very little to do for free anymore--everything costs. I have a young son, imagine the pressure I feel every time I leave the house.

[@7000U9ZHIFT]

What part of NY?

[@nobleguy37]

I have said this for almost a year now. It's the truth. A few groceries, gas in the car........boom 100 dollars instantly. LMAO just four years ago I said, dang I can't leave the house without spending at least 30 dollars....... now it's 100 easily.

[@billjohnson7904]

Doom sells, but it gets old fast. The only valuable thing is actual strategies for personal success.

[@will6659]

It really is very bad. I need to replace my 23 year old car and cannot get a loan I can afford anywhere.

[@user-jn9gv9ve6e]

save your money and you won't need a loan. don't borrow money for anything. if you don't have the cash don't buy it.

[@fredk9999]

That’s a good example. Car repairs and new tires or car payments.

[@margaretmcnamara2717]

You're not alone I've got a 2015 Altima it's freaking needs a new engine 106,000 MI I'm retired and my income is not enough to get me into a car loan now

[@103dgreen]

a good sign you dont need a new car

[@andydhillon1977]

What kind of car do you have and why do you need to replace it? Around 2006-2007 is when cars were no longer built to last.

[@jessicahayden1415]

You're right about not going anywhere. Just the turnpike costs from Tulsa to OKC and back is $50! Ridiculous.

[@gregorylyon1004]

They are using your Toll money to pay the state retired workers a lifetime pension. That's what they are not telling you

[@user-ke2st4po4o]

In Canada 🇨🇦 it’s really bad carbon taxes is going higher

[@faustinreeder1075]

Trudeau is a dictator

[@user-jn9gv9ve6e]

vote your politicians out. get new ones who are against carbon taxes. canada never met a tax they didn't like.

[@fredk9999]

We have many Canadians down here in beach SE Florida. They say the Canadian dollar exchange rate is $1.37 per one U$D

[@mrnobody3161]

"Let the Planet Burn 🔥 I won't be here when it does"

[@rbs0648]

There are these things that scrub the carbon dioxide from the atmosphere. They require no maintenance and last between 5 to 10 decades. Oh yeah, they are called trees. A carbon tax is just away for your socialist leaders to take your money.

[@jfernsten]

A few years ago we nearly zeroed out. Once stabilized, we put $500/month into a 1 year CD, no rollover. Each year after, when the CD matured, we took that initial amount, added another $500 and opened another 1 year. Did this for 4 years. When my wife was suddenly transferred on 3 weeks notice, we let those CD's lapse for a few months until we were situated - and it absolutely saved our butts. Not only did we still have her regular income, but the maturing CDs helped cover moving, suddenly needing a second car, setting up the new place, etc. We've since rebuilt those lapsed CDs, have a separate savings account just for moving, paid off the second car. But having the liquidity of a few grand a month saved our bacon - even if the rates were crap when we started.

[@1de8billiones]

How much did you start with?

[@mowtivatedmechanic1172]

How does CD roll over work? (I have a CD maturing at the end of the month)

[@user-ru5im2zx7t]

Buying treasury bills is better. You’ll have at least 5% yield and some tax advantage over a CD.

[@jfernsten]

@@mowtivatedmechanic1172 Sorry for the delay, life with kids... Before maturity, you have to tell the bank that holds it what to do at maturity. Typically there are three options: cash out the entire balance to a regular checking or savings account you hold; have the interest accrued paid out to one of you accounts while the principal rolls over to a new term; or have the principal and accrued interest roll over.

[@jfernsten]

@@user-ru5im2zx7t The amounts aren't enough to really worry about taxes. With Capital One not having minimums, I've been able to build over time at a pace we can afford. Because we can access the maturity settings at any time, if we suddenly get transferred again, I can just change the ones coming up, and be assured we'll have X amount coming in monthly no matter what situation we wind up in.

[@garyclark979]

Wow! I went out yesterday and spent $100 on next to nothing! Hoping to just get through the next year!

[@Ryan-jx4vh]

Look at houses in Florida. So many houses were sold in 2017 and then in 2023 those buyers doubled the price they paid in 2017. That's insanity. 💯

[@gregorylyon1004]

I see major forclosures coming in the state of Florida this year. Insurance and taxes are killing them

[@ellyne3863]

That’s how it is most places. Housing prices have easily doubled.

[@realestatephotovideoshawns1177]

I’m 53 and in debt and broke as hell. All they do is work. I’ve defaulted on credit cards and business is starting to pick up again, but it’s too damn late. All I can do is just keep working.

[@phaedrus2633]

I'm so happy that a lot of people didn't like your comments about Poopy-pant's SOTU. It just means, you're doing your job, Michael.

[@miketrav]

Housing Goes in cycles and we are reaching the top of that cycle

[@dademack3544]

Yes, all markets are cyclical, which is why the crash bros keep harping about the coming crash. Of course the market will go down at some point, but sitting on the sidelines and missing one of the biggest price runs in history only works out if it falls below that previous starting point.

[@stevegiblin270]

Boy do you tell it like it is ? You are the man! Plus a stand- up guy. Keep up the good work ❤

[@HPM619]

Your content and the regularity of posting A++++

[@simplelife0504]

I've been a sahm for 11 years. My husband's single income has been able to support our family of five & he's never broken $100k annually. I have never felt poor - quite the contrary. Especially currently. Redefining wealth classes is about to make many heads spin.

[@frankiebflat5728]

I can't take it anymore I am moving to Cambodia

[@Commonsenseisnotcommon8]

They’re trapped by the price, not the interest rate. Because if those people sell right now make a profit. Rent for awhile wait for the price to come down and then take that 200,000 or $300,000 cash that you got from the sell your house and be able to buy one cash. It wouldn’t be an issue. Doesn’t matter what the interest rate is. The prices are too high, it’s never gonna work

[@phoenixrising4995]

Come to Canada $200,000 - $300,000 is your down payment, not the mortgage, at least traditional mortgages are. The boon dock homes are California money up here. Its nuts and I don't know how sh** can go any higher. Its like 15-25 years average wages here to pay the principal, let alone the interest.

[@mowtivatedmechanic1172]

I’m doing that now. It’s a PITA though.

[@mikey-gee3156]

This is a selection year, so I’d be surprised if anything terrible happens…I now believe 2025 is the year for a “black swan “ financial event.

[@carolbagwell6769]

And whoever is in office will be blamed for it.

[@itchintogo7689]

Thank God i bought a house just after the 08 bubble burst.. Got a fixed intereste rate 4.75 Mortgage is $1,080 mo. 3 bed room house on 1/4 acre

[@nobleguy37]

That's 1K less than my 500square foot apt in Colorado............ that's messed up.

[@jameswolfe9451]

As a handy/maintenance man in upstate ny I've seen a significant rise in calls for service. Without fail every customer is surprised I show up. There seems to fewer and fewer folks out there that want to do this kind of work.

[@oswaldboelcke5470]

I know people who plant good gardens, work hard, and can a lot of food. Those are the smart ones. They have food in a crisis if it hits. They also know what went into growing their food.

[@Richard-go7jr]

I loved your video on biden's economy you and me both know it sucks I've never seen America fall so fast in 3 years

[@pensacola321]

I am doing great MAGA 🤡!

[@user-xh2ex7bx4b]

You are absolutely correct. It does seem like we are collectively making the viewer from Pensacola quite upset. It is unfortunate that we cannot have civil discourse without resorting to name calling. (Apologies once again to said viewer for the big words.)

[@gravemessages]

I close on my first house in upstate SC in April. Good neighborhood, good property close to amenities for $115k. Its no wonder so many people are moving here.

[@briom1425]

Southern California prices just went up and so did the competition, inventory is still scarce.

[@LongNguyen-fp8ri]

The listing homes are crawling up. However, the prices are still 30% over valued. Home owners list their prices 30% higher and then reduce 5%. The unemployment is the only catalyst to pop the bubble. The government keeps showing employment is strong and healthy with inflation “is still ~3%”.

[@anowerulazim4381]

I can't help but think it's due to the M2 money supply which has also increased by close to 30% since COVID. Perhaps the market does make sense.

[@jimmyjay689]

So u want cheap houses no one will be able to buy?

[@amyhudson1016]

Governments always fiddle the figures

[@phoenixrising4995]

They'll just play with the CPI numbers. Maybe include gig workers to the employment calculation. Work 4 jobs, bam! That's 4 people employed. Total 🤡🤡

[@HarrisonCountyStudio]

@@jimmyjay689 price doesn’t matter, when the “money printers” are at work.

[@DCMetroGecko]

Keep your eyes open… Your channel rocks!

[@l.ls.8890]

There were sections on that street that was very photo optic. The greenery was absolutely lushes and delightful.

[@PJ-yc2kb]

Current interest rates arent obscene, weve just been spoiled. They are where they should be. It just hurts because of the prices of everything.

[@humanyoda]

"Grabbing a bite to eat" still can cost about $20. I simply don't eat at expensive restaurants. And my monthly food expenses don't go above $200. (I eat mainly meat, eggs, and vegetables.)

[@h2jennings]

Awesome job, Michael. Love your channel. Keep up the great work!

[@aleski4090]

Good stuff . I appreciate your time making this content

[@rickcamp8487]

So what's the plan, sit around and complain until the prices come down?

[@Michorida]

Michigan has cheap cost of living and there are many beaches and the Great Lakes are like mini oceans

[@Michorida]

@@rynolonewolf I know I live here. Even with that it’s still way cheaper to live here than many places. I’m actually moving to Florida from Michigan but my family will stay here

[@suntzu94]

I live in Ohio and life is still cheap but just remember one thing, when the West Coast runs out of fresh water the Great Lakes the region will be hot again

[@jimmyjay689]

Zero Jobs

[@Michorida]

@@jimmyjay689 Detroit and flint is not all of Michigan. There are plenty of jobs. I’m trump 2024 and wish it was more conservative here but jobs aren’t a problem.

[@Michorida]

@@suntzu94 well my family is staying here. I’m 26 and want to go live in Florida for a few years but I can always come back

[@jimmyjay689]

Inflation was worse in the 70s, and mortgage rates were as high as 15% ....is this not correct?

[@user-kw5en9zr1r]

Income to debt. Income to mortgage. Zero like the 70s

[@Chiefsfan98]

Prices were also much cheaper back then. Yes interest rates were high but you only needed 2-3 times the median income to afford a home. Now you need 7-9 times the median income to afford a home. The mortgage payment today is way higher than back then even at a 15% interest rate.

[@mysterybuyer3738]

But in the 70s you could buy a house with a bag of potatoes.

[@andrewprice2894]

I'm making my own bacon as Michael speaks. I make 10lbs for $30. Costco. I cook everything my family consumes. I hate going out to eat. The food sucks, service sucks, overpriced food and service. I take immense pride in the food I serve my family. Not only for the cost per meal, but I get to control the ingredients. Food is a major cost of living and if more people can learn how to prepare healthy foods for themselves and the family it gets cheaper and the quality goes way up. I buy beef off the hoof, that alone saves me a considerable amount of money and it last about a year or so. Just a bit of information for those that read this. Be safe out there and love each other.

[@jayemowrey1416]

I thoroughly enjoy your videos I think they're extremely informative and very helpful I have learned a lot I want to thank you very much please keep it up,.... I think that 99% of us thoroughly enjoy you

[@galupproperties3098]

Bought my house in Pennsylvania for 52k in 2015. Been paid off for quite the time.

[@fredhenry426]

Spend our way out of debt. Wow. Who knew?

[@user-wm1lc2zn6h]

Just tried to have 2 toilets replaced in my NJ home. I already purchased the toilets. The company wanted almost $4,000

[@GillerHeston]

In the USA, individuals living in cars due to partial homelessness result from a complex interplay of factors. High housing costs relative to income, stagnant wages, and income inequality drive this issue. Job loss, weak social support, medical expenses, evictions, and lack of affordable housing also contribute, while systemic problems and inadequate policies further perpetuate the phenomenon.

[@joshbarney114]

Considering the present situation, diversifying by shifting investments from real estate to financial markets or gold is recommended, despite potential future home price drops. Given prevailing mortgage rates and economic uncertainty, this move is prudent, particularly due to stricter mortgage regulations. Seeking advice from a knowledgeable independent financial advisor is advisable for those seeking guidance.

[@rogerwheelers4322]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@FabioOdelega876]

This is huge! Think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.

[@rogerwheelers4322]

Finding financial advisors like Natalie Noel Burns 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.

[@FabioOdelega876]

Natalie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.

[@Jade.123]

Thanks man ❤

[@nicolcacola]

Could you do some walks around nature reserves or hiking trails? Some of those trees just in normal neighborhoods are incredible!

[@almirantevaltjen678]

Let it be, let it be, until prices plummet to the bottom. When people stop buying.

[@PianoMatronNeeNee]

Great advise Michael. I’ve “wanted” a new car over the past two years and have held off on buying one until it was wrecked, I now “needed” one and was forced to buy one. It’s not about “wants” it’s about “needs”.

[@gasolara2002]

It is no joke. I'm blessed to have an okay job and work remote. I'm paying off all credit card debts by this summer while still being able to put 10% of my pay in a HYSA while investing in stocks and REITs. I have cutback on going out and spending on non-essential things. Definitely no brand new phones or Teslas over here. Lol!

[@user-vy7nd5ss1h]

Dallas Tx reported today that an individual needs income of $123,000 yr to afford average mortgage today. Sounds like they gonna needs alot of raises for peeps or they heading towards a dark place

[@therealestake]

You can buy cash flowing rentals in the Midwest. The problem with that is... it's in the Midwest. Florida will always be desirable and the deals are coming!

[@riverraven7359]

On the point of government printing their way to prosperity, devaluing the dollar through high inflation is about the only way to cope with the level of national debt in the USA.

[@njseashorechas2698]

Great stuff Mike, you nailed it! I've been feeling the same. The economy is in a slow crash from what I've been seeing.

[@ordinaryhuman5645]

Taking a year and a half to do a roof seems crazy. I had mine replaced late last year and I think it was less than two weeks between getting the estimate, signing the papers, and having the roof and gutters sorted out (different teams on different days). It seems like that contractor just really didn't want to do that job or something.

[@actualfacts1055]

A lot of people live on edge trying to live beyond their means then they go after relatives for help, then just keep trying to live beyond their means, they never learn.

[@gabem6362]

I can't move either . Where do I go ? .. to pay more taxes, I think not .

[@MichigantoFlorida]

Good Evening Michael, I agree with your data, it does represent the 80/20 rule.

[@miniminamanmina3715]

Nothing printing a few trillion and farming it out to the banks to make corrections will not fix. Hell with what it does to middle class and inflation down the road .

[@sugarlien]

So true. I went to Petco and spent more than $100!!

[@djharshram10101]

Hi Michael, I’ve been tuning into your show for a year and love it!!! I agree that the philosophy of no debt is a way of life and was taught to me by my parents. “Live within your means” is tattooed on my brain by my mother and this is the key to a happy life. What I see from the young people today is to borrow, borrow, borrow. These are the same people who complain about high prices for food, gas etc… I’ve worked hard and built up some wealth. My house and cars are paid off and have no debt. I’m sick of hearing people complaining about high prices because these are the same people who continue to borrow until over leveraged. I really hate the people who are gaming the system by sitting on their butts and collect disability and other government benefits. They can’t afford to live because they don’t get enough government money so they complain. I don’t feel sorry for these people at all. I live in a decent neighborhood and being run down by immigrants who come into the country and scam the government so they can live in a million dollar house, drive the expensive cars and go to fancy restaurants. This seems to be the way of life now and really disgusted by it. The borrowers don’t realize that they are going to have to pay down their debts for the rest of their lives and they assume that they will have good health into old age. I can see a lot of people in the future going into bankruptcy in their 60’s and living on the streets because they can’t work due to bad health and don’t get enough government money to pay off their debts. It’s sad but true! Ray.

[@DrunkenUFOPilot]

Is that wind noise on the microphone, or THUNDER? I love the sound of thunder and the look and feel of approaching thunderstorms. That's one thing I miss about Florida.

[@fredhenry426]

20yrs should be thankful for your insight and viewers experience & comments. Learn from it. We didn't have computer's in our 20's.

[@nicoleyoung3790]

The question on how people with kids do it is exactly what I've wondered alot, your answer was on point, they keep borrowing or get money from their parents.

[@donaldhays2552]

The problem with multi family units is the laws are being passed that go against the owners. Good luck getting someone out who decides not to pay rent.