MORE People Are FALLING BEHIND ON THEIR BILLS!

So many people are falling behind on their credit card and car payment bills that Wall Street is now concerned of the future direction of the economy. But I've been talking about this stuff at my channel for the past two years. People say it's repetitive or it's not as bad as you say it is but apparently that's not the case. If even Wall Street is paying attention now.
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

Relationships ARE ENDING OVER THIS HORRIBLE Economy... kzbin.info/www/bejne/qIaZeIaDlLyFjq8

[@burntpopcornproductions9137]

💛😎Really soon, 5 dollar make you holla Ladies. Market saturation =

[@nellyjohnson7316]

Good for you.

[@oleotoleo3414]

Your tone is better now. Keep this microphone style.

[@TwitX2007]

I just received my homeowner insurance renewal- what surprised me is the amount they are using to rebuild my house in the calculations… it’s almost $200,000 more that the highest listing price I could possibly get . Crazy

[@threeftr3349]

@@TwitX2007Increase your deductible. I am now at 10K deductible. Also if you put a new roof on, keep your paid receipt, and call them, you will get a lower rate.

[@dorothymaguire5573]

I’ve always lived beneath my means. It works. I’m not rich but I’ve never been homeless nor have I ever claimed bankruptcy.

[@Mikefngarage]

almost impossible to do in CA. unless you have your house paid off. Thank politicians.

[@westflodominion5551]

I've been living beneath my means for over a decade now and it does work

[@Opus4p]

It's not over yet

[@joefer5360]

@@Opus4p It's suppose to be over? Civil servant work is infinite.

[@dorothymaguire5573]

@@Opus4p True. Hope I didn’t jinx myself!

[@dushanepowell3782]

In 2007, my wife, now ex-wife, wanted a $500,000 house. Her reasoning was, everyone is doing it. I said no way in hell am I buying a $500,000 dollar house. I'm so glad that I stuck to my guns.

[@MavRick69]

Didn’t she trade you in for someone who got her that 1/2 million dollar house?

[@TheSuperdodgy]

You'd prob 3/4 own that house now and it would be worth $1.2M+.

[@NrthrnKnght]

@@TheSuperdodgy and when the market crashes...

[@TheSuperdodgy]

@@NrthrnKnght People have been saying that for 5 years.

[@NrthrnKnght]

@@MavRick69 who cares she probably will be in debt the rest of her life..he will be living the good life

[@AshleysBallistics]

The people in charge can gaslight the population into thinking we're better off but eventually the wizard of oz curtain will be pulled back 😅

[@joefer5360]

The curtain is made of lead.

[@konnick5262]

No, of private equity

[@jimcrawford3185]

The Queen Wizard of Cackles

[@tmm226]

That's exactly what is going on, it's behind the curtain..

[@trumplady4933]

Amen!

[@backrack01]

I dont think Wall Street cares about anything involving us.

[@patrickm6012]

Do you understand what Wall Street does? It is the free market. What is your answer, Socialism?

[@michaelkitchen6000]

@@patrickm6012 no I think he’s looking towards the fed lowering rates and making it easier for Wall Street to pump up stocks and when they pump up stocks companies have to make more money to meet the expectations of the investors so you pay more at the grocery store, etc.

[@mikehertz6507]

It's not Wall Street. Is fed policy driven by Biden spending and money printing. M2 money supply was increased by over 20% since '21.

[@florenciooliva9825]

Why should they?? Not their job.!

[@florenciooliva9825]

@@patrickm6012what country did socialism work?

[@debrahartshorn3084]

Paying that much for that tiny house is insane

[@justme2272]

Well the folks at the top did it😒

[@zsigzsag]

I paid $109K for my little 2/1 and it looks like a little palace next to that ramshackle home. I get offers to buy my home constantly. I finally tell them $1,000,000 cash, as is firm. Of course It's done as sort of joking just to get them to leave me alone but maybe I should really be serious...lol!

[@wikwayer]

Smaller than the Simpsons house

[@JesusIsKing31677]

I live the same in a mobile home that people want that house for 1 Million and 17K in taxes what a joke live within your means stop trying to be fancy all the time move to a place where life is affordable that's what I did. I'm not complaining at all I love it in the mobile home..

[@chop2093]

Crazy. 1.5M for that little house. Why do that when for 1.5m you could get a huge house on a few acres in alot of areas of the county.

[@ralphkassing6821]

There really isn’t a middle class anymore. When you are in debt beyond your ability to pay it off, you really have nothing. People are a lot poorer than they think.

[@blackworldtraveler3711]

Yes there are. Those are just a specific large population of people who are bad with finances,living beyond means,keeping up with the Joneses,spending money they don’t have,too many kids,too big of home,new cars,major debt,etc.. We are stealth millionaires where I live or the type from the book “The Millionaire Next Door”. Little to no mortgage,zero debt,live within means,emergency fund,save,invest,passive,etc… The ones that go on with everyday life not complaining or showing off.

[@MACD69]

When you're in that level of debt, you're on the path to bankruptcy

[@blackworldtraveler3711]

@@MACD69 That’s the broke half of middle class people only see. The rest are doing fine and mostly debt free stealth millionaires like myself.

[@thebes56]

In America you never own a home. You rent it from the government.

[@Teno-z5m]

You don't even own the money you worked for...welcome to land of the s l ave

[@slomocalzone]

I keep my head above water by living in a little house and driving a car that is now 14 years old.

[@ladycactus110]

Same here. On a half-pension. I lead a very frugal life.

[@googleuser868]

Low dollar lifestyle is much less stressful.

[@rfink222]

@@googleuser868You are right, having less riches is more peaceful.

[@jipjob1]

@@slomocalzone that great!

[@Jetblast-qq7mf]

My car has 180k miles but it's paid for.😊

[@class1188]

Today I saw 2 high end cars be repossessed and TOWED AWAY ON TOW TRUCKS 🚚. One repossessed a "2024 Mercedes" and another repossessed from a different family "2024 Lexus 2 door white it was beautiful. " I don't care how old your car is or how it looks "IF AUTO IS PAID OFF & IF IT RUNS PLEASE KEEP IT. These luxury repossessed automobiles (today alone) they either lost their jobs, or will now, they have no transportation. Never try keeping up w JONES it don't work & you can "NEVER BORROW YOUR WAY OUT OF DEBT." Times are MUCH worse than we know.

[@blackworldtraveler3711]

“Only when the tide goes out do you learn who's been swimming naked.” - Warren Buffett Yeah people learned nothing from Great Recession/housing crash. They had over 14 years to prepare. I learned many years before with no worries. I’m a point A to B type of guy with cars. Paid $15k cash in 2014 for a 2012 subcompact. Like new and runs fine. Now that I’m early retired I fill my tank twice a year now and in garage most of the time. Total annual expense is around $1400 a year. The idea of financing an expensive vehicle paying high monthly payments, insurance, taxes,,etc. for something that sits parked doing nothing for more than 20 hours a day never made sense to me.

[@AlexanderMahone-sp3zh]

Too true! I almost made mistakes by buying a new car while mine is old and still runs, I did the right thing!

[@lesliel1182]

20% used to be called "loansharking" and was illegal, but now the criminals run the show.

[@JBoy340a]

I remember when home interest rates were 14% in the 80s.

[@rustyshackelford6834]

We had usury laws to control interest rates, now we don't and the banks complain when the fed raises interest rates on them by two percent.

[@jipjob1]

I retired about 20 years ago and my salary at that time was about 25 dollars an hour fast forward the same job is about 40 dollars an hour. I paid my house oft in five years and no payment on credit cards or car loans! But my wife and I are fugal and that’s the key to be financially secure.

[@BrianK-zz4fk]

the problem is that house has probably increased more than 66%. You can only be so frugal to withstand this bloodbath in this economy. I have assets but how can people afford 100% increases on things like home and car insurance when wages dont keep up? I really feel for them as they arnt just stupid but getting screwed even trying to do the right thing

[@jipjob1]

@@BrianK-zz4fk You are totally right! But we all live our lives different and try to save in different ways. Our economy is not a guaranteed thing and we know that. If the car market depended on my wife and I it would sink like a rock in water! We bought a new car 14 years ago and it serves us well but allot of that is due proper preventative maintenance and that goes with our financial situations. I tell people I was born Into a family that went through the Great Depression and I know that it left it marks on me. I see rift roads ahead for the population of America but we will survive but maybe without Starbucks!

[@blackworldtraveler3711]

@@BrianK-zz4fk Those people you worried about were probably living beyond their means already and too late to be fugal about anything. I see where people money go and they can’t fool me. People I know better not complain about being broke and blaming everyone else but themselves because they know I will shut them down with their own bad spending habits and unnecessary debt. People are their own financial worse enemy. You must live in expensive area of the country. I don’t know anything about 100% increases here.. I’m not even frugal and always lived within means avoiding debt. My total household living expenses(utilities,property tax,food, Condo dues,insurance,maintenance,upkeep,etc.) is less than $1400/mo. and I live in Italian style condo with two car garage,secure gated community in an upper middle class zip code in Oklahoma Retired in my 40s and even cut my retirement income in half to $45k because it was too much money. No crazy increases happening here. Even gas is $2.56/gal currently.

[@blackworldtraveler3711]

@@BrianK-zz4fk Lack of planning

[@Standinginhisloveandhislight]

Debt is stress, stress = misery, no thank you.

[@connorcaba2492]

Say it with me: “we 👏 are 👏 already 👏 in 👏 a 👏 recession”

[@mattolivier1835]

Nah. More like a depression son. Wake up!

[@AstroSardaukar]

We are going towards a second great depression, or at least the US.

[@RD-io6sm]

Maybe another depression

[@CMBBmc-jd6ur]

I detest commercials. That’s why I never watch the TV. No antenna, no cable. Life is better. (Michael, that shirt is a great color for you.)

[@lyceum4177]

10 years tell lie vision free

[@googleuser868]

I got antenna tv and no cable. Chromecast and a smartphone gets me more than I care to watch. Never had cable or any pay for tv service. Commercials don't bother me because I usually don't pay attention to them and advertising pays for the free viewing.

[@BrianK-zz4fk]

I never paid attention to commercials so antenna with a tablo works for me just fast forward commercials. Tbh I have tv on most of the day but never paying attention its background noise most of the time.

[@peter-pg5yc]

what no porn....the horror

[@nicolcacola]

We don't do commercials either. My kids know to avoid them like the plague.

[@maureenberendonk4662]

If you need to put things on a credit card just to live then you are living way above your means…are people really this stupid?!?!

[@robertpierpont2262]

I Know right! Sadly they are, everyone wants to live above their means on credit & then cry about it later

[@jimcrawford3185]

Uhh... yes "Doom spending"

[@blackworldtraveler3711]

@@jimcrawford3185 There's always talk like this during economic downturns. Stupid people suffered terribly because of this "doom spending" during Great Recession/housing crash.

[@Eyeris625]

Yes

[@ericmcabee5823]

@@maureenberendonk4662 Yes. They are.

[@lucaspedro4104]

*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*

[@MarioDavid-dl8tq]

Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?

[@desmondziko8511]

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 Lisa Annette Robinson, has been an amazing experience.

[@meridithjurney6162]

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... 🎉

[@nickwilkinson7728]

Once you dig a debt hole ,it can soon become a bottomless pit unless you get control of it very quickly.

[@Tonymanero1960]

I retired at 58 (I am now 64) with almost 7 figures in all retirement accounts,.....and NEVER made more than 50k a year as a propane driver. I always lived well below my means,....and saved consistently. I couldn't even imagine what it would have been like to make 70,80, or 100k a year.

[@commieender]

300% gain in 3 years will do that. Still doesn't make it right.

[@nathanabraham8762]

Booooooooooommmmmeeerrrrr 60k a year back in your day is like 110k now

[@zippo32123]

congrads, enjoy your retirment, i bet you worked hard to enjoy it

[@Tonymanero1960]

@@nathanabraham8762 But,......I never made more than 50.

[@Tonymanero1960]

@@zippo32123 If I could do it,....anyone can.

[@Biker65]

You must have transportation. You must have housing. You must have food.

[@jimcrawford3185]

But clothes are optional

[@googleuser868]

98 Chevy paid for and a bicycle House was paid for over 30 years ago. Got fruit trees, a veggie garden and farms all around me. Deer and rabbit run through the yard often. Got a shotgun. Got clothes in storage from bargain buy clearance racks and some that are decades old. I didn't even buy a lot of those.

[@trentonparrish1136]

Not true because you don’t need housing. 😂

[@dutch4117]

@@googleuser868good stuff. I was listening to a podcast yesterday and the man being interviewed talked about wildlife during the depression and mentioned how fast the deer population just disappeared. It actually made the newspaper a few years later when a deer was spotted in the local area in the wild. I thought that was interesting, made sense.

[@martafuentes4453]

People r living out their cars. Recession is here and 100k jobs r gone, cars r been repo, things don’t look good.

[@NrthrnKnght]

Van lifers are exploding everywhere

[@blackworldtraveler3711]

People have always lived in cars and more during downturns. Great time for people with cash since so many learned nothing from Great Recession/housing crash and completely ignored 2020 crisis.

[@TimesUp8888]

the layoffs in my industry ALONE last yr were at least 500,000. There have been at least 1 million jobs lost and not backfilled. Recently.

[@martafuentes4453]

@@blackworldtraveler3711 I live in my van now for ten years this has been going on since 2008 not 2020 get your facts right. This been happening since Obama went in office.

[@syoung4471]

When my husband I first were together, we rented a place from the accountant at his work. She only charged us $400/month. So we saved when we lived there and it made a huge difference when we actually needed it. We just saved everything we got and spent money on only the bare essentials. It's absolutely the better way to go. You have to put in the time to build up. It's not glamourous or fun but totally pays off when you are ready to do something. Currently we live well below our means and are debt free. Don't feel pressured to do anything that can ruin your future. Plan everything out as much as possible. I completely understand wanting to do something now but it's really not worth it.

[@abjectt5440]

The more you owe the less freedom you have.

[@leonardprice6386]

Sound advice.💪🏼💯

[@peter-pg5yc]

me it was get a better job, sears was 50k, left and did inhome sales over 170k a year helped my portfolio to grow i fed it and never touch it. Plus apt was 850 with portfolio investment pay 300k or more a year mostly reinvested. 1st million tough the next few way easier. IT WAS A PLAN..

[@TimesUp8888]

What year or decade was this? Sounds like a while back. The minimum number is $1000-1500 today, btw

[@mysterybuyer3738]

For our single family house electric, gas, trash and sewer was $953 last month $888 this month. Be greatful for your tiny utility bills everyone because this is your future.

[@blackworldtraveler3711]

Not concerned about expenses like that. That was your choice to pay bills from the year 2050. My electric,gas,trash,water,and sewer was $160 last month and my electric bill already dropped $30 from summer high of $93 now that summer heat is over in Oklahoma . Actually my entire household monthly living expenses (including condo dues, property tax,and insurance)are less than that.

[@user-xj3ck5oy2x]

@@blackworldtraveler3711how is that their choice??? We are in Florida, normal size house and our electric bill is $650 a month

[@blackworldtraveler3711]

@@user-xj3ck5oy2x You chose to live there and that’s what it cost.

[@user-xj3ck5oy2x]

@@blackworldtraveler3711 wow, actually I grew up here! And it’s not just easy to get up and move, we are working on moving to Alabama where things are cheaper, but can’t do it yet

[@whoknows2482]

@@user-xj3ck5oy2x You gotta move north where it's not so hot and humid.

[@BV-Auto]

I had one guy barter an hvac repair for an automotive repair. I happily accepted as my furnace is old as hell.

[@gregh7457]

you may regret that deal if he drags in a hellcat with a hemi tick

[@teresawort9124]

I do barter/ trade as well.

[@BV-Auto]

@@teresawort9124 Well can you clean and cook? :D

[@toomanymodz]

I know someone who just signed a $2200 per month rental agreement, moved into the apartment just to discover that it was infested with German roaches. They hadn't even unpacked yet and saw like 20 roaches already. How much $$ does it take to get a decent apartment these days?

[@TimesUp8888]

I'm living in a shithole until rents come back to SANTY where I am. To get an apartment that meets my standards and with my very healthy salary I'm in total shock that it I want more than 800 sq ft, we are talking $2500-3000. Same as my previous mortgage in an Expensive city for a 3300 sq ft house. Insanity.

[@AnnaKoppen-y7q]

I just looked at a bare bones one bedroom apartment. $675 same issue.I told the real estate agent and she said she didn’t know what Pest control is I said obviously

[@rayn3038]

NOT JUST AMERICA...EUROPE...ASTRAILIA...ETC ETC ..CRYING THE BLUES ON INSANE RENTS AND PRICES...UT IS THE ACHILLES HEEL OF THE MODERN WORLD...THE WEST IS ON THE EDGE OF A CLIFF...IN A MERCEDES...

[@Blu_Slime]

I almost bought a house for 35% of my income. I chose to stay put. Living in a rental for 11% of my income. I think it’s time I wait this thing out and stack cash.

[@EvySurvived]

You dodged a bullet TG

[@blackworldtraveler3711]

I have cash to do a full home remodeling EARLY next year but I’m accumulating so much interest monthly at 2.90% and 4.95% I’m just going to sit back wait a while.

[@jmb9701]

Yeah i'm in about the same spot. My wife and I WANT more house, but we've got golden handcuffs saving 5-7k a month with 15% going to our mortgage / housing costs. We decided in the short term to just save for a few years such that we can get our COL down to a similar level in a bigger nicer house when the time feels right or when that WANT becomes more of a NEED.

[@Joegolberg1]

The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.

[@Mark-pb8kj]

gold silver and btc

[@Benjaminarmstrong684]

Financial consultants can help by recommending investments that outpace inflation, such as real estate or certain stocks. A client of mine followed this strategy and saw their savings grow by 15_% in just two years, effectively countering inflation.

[@Joegolberg1]

That makes sense. Unlike us, you seem to have the market figured out. Who is your fiduciary?

[@Benjaminarmstrong684]

Zachery M Demers is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.

[@cynjhern]

It was in the 1980s that they started privatizing all the commons around the country because “freedom”. In California, it was 1990s that PG&E was deregulated. It’s primary purpose became profit for the share holders, not affordability nor safety.

[@indigostaraz]

Enron.

[@christopherjohn611]

This night mare gets worse. I pay 375 a month for a studio with electric and water included. I have nothing to complain about. No car payment

[@lakeerie70]

That’s whats up

[@fstblk5]

I pay $390mo for a 1 bedroom and have been here since 2012. My Rav 4 is paid off since 11/2023 1 year and 4 mo early, no cable, internet only

[@robertpierpont2262]

in 2016 I bought a mobile home on 1 acre 3-5 minutes from the states biggest lake, 8 miles from a small city & 12 miles from a medium size city, great location & I paid $10k for the whole property & mobile home, I paid cash & have never made a vehicle payment in my life so I never carried full coverage auto ins. Monthly bills are $400 tops & thats with a $200 xfinity bill & my cell phone bill. My property tax is $115 a year & I don;t carry insurance on it. There is cheap living out there if you really want to live cheap!

[@robertpierpont2262]

You can live in a small condo with 2 swimming pools right on the beach in Thailand for $375 mo & in some even get free internet & no need for a car, just a scooter that costs $2k & eat street & night market food for $3 per meal no problem, $10 month unlimited data cell phone service. If you have to pay for home internet its like $15 month, electric bill maybe $75-$80 in the hot months. You can live in the US that cheap but not on a beach thats for sure

[@donnahalperin2840]

Y’all are so lucky!! Not renting but around here it’s $1200 for a studio or crappy 1 bedroom. 🤷🏼‍♀️

[@kevinschlosberg7124]

I’m boycotting PG&E- my house is illuminated by candles…

[@NrthrnKnght]

I go to yard sales and estate sales and buy the old fashion oil lamps/ with wicks...have about 8 now..watch how good a move that will be in the future

[@JBoy340a]

We got solar and batteries. PG&E bill when from $400 to $10, the connection charge. We get about $300/year from them for selling them excess power during power shortages. Solar and battery should be paid off in 6-7 years after installation.

[@Kitchentarot]

PLEASE DONT BURN HOUSE DOWN. HOW U GETTING HOT WATER?? Lolol prayers😮

[@10minuteESL]

My friend and I used to say we were downscale. Thrift store shopping, 2 for 1 meals, matinees...

[@nonenone1534]

Housing inflation makes up 40% of CPI. It has not gone down. It’s stupid to drop rates!

[@Finchlvr]

Yes you don’t see it on mainstream media about people behind in their bills.

[@BillyTurner-vb3hf]

That would make the democrats look bad

[@BillyTurner-vb3hf]

That would make the democrats look bad

[@BillyTurner-vb3hf]

That would make the dem's look bad

[@MetaView7]

Even the govt is having a problem paying the bills. In 2024, ALL the personal income tax collected will go toward paying interest on the $34 trillion debt. The national debt is increased by $1 trillion dollars every 100 days ! How long can this go on ??!?!?!

[@newkem37]

I wish EVERYONE would stop.

[@blackworldtraveler3711]

I only focus on things in life I can control. I’m debt free and have no problem paying my bills.

[@TimesUp8888]

well, that was both predicted (math) and planned. it's not a failure or Incompetence, it's intentional destruction of the US since the Federal Reserve was unconstitutionally founded in 1913. Before that we had 0 property or income tax. For starters.

[@johnlibonati7807]

@@blackworldtraveler3711I’m at this point as well. Once you ignore the hype and propaganda, concentrating on priorities becomes easy.

[@Jaymak-t3j]

When I got out of debt , I told my brother I just worked my way up to being "broke".

[@tizzx4945]

To get along with the recession you need to get out of debt!

[@jimcrawford3185]

To get along with the recession you need to find another planet to live on

[@Finchlvr]

We live in a large nice subsivion that has 2,000 homes suburb of Atlanta. We’ve seen a TON of houses go up for sale the last few weeks and for rent. People also getting evicted. Sad times.

[@frankcorrea8691]

Those big urban homes will be ghetto or section 8 rentals, seen some in neighborhoods here in texas, low class renters that trashvout the yards snd make the otherwise nice neighborhood that was z,!😮

[@Juliet875]

Pacific Heights was a crazy movie. Definetly makes someone think twice about being a landlord. Thanks Michael and Happy Monday!

[@Mhel2023]

I hate the roaches part, I always cover my eyes😂

[@johnlibonati7807]

Great movie. It plays out in real time here in SW Florida on a regular basis.

[@mikeifyouplease]

Michael, I imagine that you have probably helped a lot of your viewers, simply by telling and explaining how bad things are. And because of your advice, you might have stopped a lot of people from going for that big ticket item, like a new car, or a new home. And you probably saved their caboose.!

[@jiehe5385]

My wife teaches in a university. it is known that teachers are underpaid. it’s still shocking to me when I heard some of her colleagues couldn’t afford a car. It’s not shame on them, it’s shame to this country.

[@peter-pg5yc]

I buy mostly used cars and keep them forever. But mine are 100% maintained.

[@KatarinaNolte]

Professors teach at universities. Don't always believe people when they talk about their finances.

[@TeresaPatterson-l5o]

Imagine what the janitor makes

[@JBoy340a]

Doesn't surprise me. Unless you are at a prestigious university the pay is low and research requirements high.

[@mikev4373]

But the San Francisco Bay Area is a cesspool why would anyone want to live here?? Ask Michael…it’s ridiculously beautiful

[@lesliepropheter5040]

The insurance companies are killing their own business.

[@Litterbaux]

It's about time to start seeing the commercials on TV for companies trying to buy your old gold jewelry. If you were paying attention in 2010-2012 you'll know exactly what I'm talking about, go back and see what the price of gold did back then.

[@theloosemoose8200]

The funny part is the people like myself who messed their credit up when they were young are actually doing better than those who didn't. I always say "not paying my cell phone bill when I was 19 was the best thing I ever did" ... They wouldn't lend me money for anything so I learned to buy what I could afford. Now I'm an adult and my credit is spotless and I still never use it.. meanwhile, everyone else is in the red and have zero dollars in the bank...

[@alycat9186]

Same here! Messed up in my 20’s and then got in the habit of buying things cash as much as possible after that. And when I did need a car loan it wasn’t very much borrowed. Driving an 11 year-old car that’s paid off and it’s great!!

[@rockpadstudios]

I would never pay that for that shack

[@victorramirez2891]

Those who bought it was just to store money. When rates go down they will flip.

[@kennysponto6568]

Censorship is everywhere

[@jimcrawford3185]

I ll say Every third post of mine is deleted

[@joycedudzinski9415]

But the p o r N bots I report come back everyday.

[@cjdunne1969]

As I was watching this video I opened some mail... mortgage bill up 15% from last year due to increased taxes and insurance. The funny thing is I felt like I got away easy.

[@MrMuis06]

Even animals know to prepare for hard times, while humans love to live in a state of delusion.

[@frankcorrea8691]

Yes snd our dogs are better survivors than hoomans!😮

[@texdawg0212]

"The Grasshopper and the Ant"

[@katieandnick4113]

It’s a survival strategy. None of us would be here if we were able to perceive how objectively horrible the world is.

[@db8646]

Give us this Day our Daily Work.

[@lordinquis8r679]

Thanks, Michael! My favorite old times movie about home ownership is “The Money Pit”. I think Cher was in it. Whenever I have to repair my house I do the voice of the plumber. Cracks up my wife every time.

[@byoung5520]

Shelly Long and Tom Hanks

[@lordinquis8r679]

@@byoung5520 , what year was that?

[@byoung5520]

@@lordinquis8r679 March 26,1986……..I cheated n asked Alexa

[@byoung5520]

Sammy Davis jr singing “I gotta be me”

[@samurai_jack_1]

I have that movie on vhs. Think it's worth something since Cher is on it?

[@slujano]

I’ve been paying debt for over 2 years and have been living paycheck to paycheck. It’s tough overall 😒

[@johnlibonati7807]

Keep going. I did the same and it’s totally worth it. Part of it is psychological. When I paid mine off it was like a blanket was pulled off me.

[@slujano]

@@johnlibonati7807 Thank you 😊 I can’t wait till the day I feel the weight off my shoulders . 🤞🏼 One more year to go.

[@michaelhillary6810]

And yet in every jobs parking lots are Tesla's, Jeep wagoneers (new), Ford expeditions, Benz, jag trucks etc.

[@rayn3038]

SOMETHING SMELLS FISHY IN DENMARK...EVERYWHERE

[@fredk9999]

Thank you to our host for this beautiful out-door walk-around segment. Consumers cannot keep up and once we fall behind, good luck

[@joelabella750]

At times like this!?...I've always remember my buddy who is the father of my EX employer taught me the following quote: "It's never how much you've earned but on how much on You Saved and this is the key to Financial Survival in any situation in this life and this mindset determines if you live comfortably or you starve to death!" Thanks a million @ John Antonelli who already passed on 11 years ago. Rest In Peace @ John Antonelli.

[@joanmerriken9216]

The real issue is that people are living way above their means. They will learn when they lose everything because jobs are no longer a safety net when most tech industries alone are trimming the fat and firing half their employees.

[@Mark-pb8kj]

Yeah you gonna learn with em too 😅

[@RJ_Focused]

So many people in California refuse to change their voting habits but will complain when policies increase cost.

[@Opus4p]

I did change I'm voting for Harris

[@robertpierpont2262]

out of all the people I know that live in Cali only the red voting ones seem to live above their means & stay in debt bigly

[@jwill540]

​@@Opus4p sure you did lol!

[@tiagol4212]

Same here in Brasil, people vote for more taxes and complain later. California is becoming south america in the 00s. Went to LA last year, skidrow looks worse than crackolandia in São Paulo

[@jimcrawford3185]

​@@Opus4p I d vote for her too but Paul Craig Roberts explained that they ve changed the laws so that the swing state votes can be stolen legally No need to vote... the fix is in

[@garyfrancis6193]

People are denying this as everything crumbles around them.

[@rollwithit5150]

A lot of people are obsessed with spending, and they use CC to get their high. Just like buying new cars, they just got to enslave themselves.

[@NrthrnKnght]

CC and credit scores were invented by banks to keep people in a perpetual debt mode...freedom is debt free, dave was right 1000%

[@robertpierpont2262]

BINGO sir! You nailed it. Consumerism & materialism, some think they need a bunch of dumb crap to be happy but all they do is enslave themselves... for crap they don't even really need. George Carlin use to talk about this. Keeping up with the Jones is not the way unless you like spending 3/4's of your waking hours working & commuting to & from work. I hear people crying about being broke yet take 2 vacations a year & get their family of 4 the latest greatest iphone every year..lol. They are broke by choice!

[@GoodyGoody534]

In some parts of Missouri, there is a housing shortage and some ppl are STILL paying over asking price for homes. Unbelievable!

[@marklane870]

Only in misery lol

[@nicolcacola]

Cheaper areas are still going to sell...for now

[@denisep.98]

It was 85° in Rockford today - tank time there!! I was floored, to see it that warm in mid-September.

[@jfernsten]

Up here in Maine, with no accident, tickets or incidents, our car insurance jumped by 17% for no reason. By following you and others, we were able to handle it, but.... OUCH!!!

[@newmamaful]

Look into AAA. Many people don't know that they sell home and auto insurance.

[@MavRick69]

There was a reason for rates to increase. Higher costs for parts and labor to repair car. And price of new cars also skyrocketed. Not your fault, but it’s reality.

[@bywaterbeatsproduction]

Maine is nice, nice and expensive. Nowhere should you have to pay a toll to use the interstate. 😠 That's public roads paid for by the public smh

[@jfernsten]

@@newmamaful I did, have had AAA for decades. It was more expensive because we were technically new insurance customers

[@MarkBush-en5cz]

You are paying for the insurance companies having to write off damaged electric vehicles.

[@bryangrant9282]

Insurance and taxes killed the consumer.

[@mikeautry2271]

Seniors are screwed..billions going to Ukraine as Americans suffer..ujb

[@kilnmaster]

I'm not screwed. Far from it. Some might be. But that is every age group.

[@blackworldtraveler3711]

They are doing fine where I live. But they saved ,invested, and planned for retirement like other smart people. Homes paid off and debt free. Better to say Americans any age who are stupid with money,don't live within means,no saving,no investing,etc and learned nothing from Great Recession/housing crash will probably suffer somewhat

[@theboringchannel2027]

we mostly send old equipment we wont use anymore

[@garyfrancis6193]

Billions are not going to Ukraine. It’s going to arms manufacturers to then ship them to Ukraine be blown p so they need more. War is America’s biggest export.

[@wxxw-pc7qq]

They are sending weapons and munitions which are priced in dollars they have to pay back, let's say 20 billion they have to use only in buying american made hardware. They do not get to go in the world market to buy reason why american economy is doing better than others

[@LouisMorganxb3]

Without a doubt, this year will be worse than the previous one. Last year, I lost a lot of money due to poor investing decisions that I would not have made if I hadn't been so concerned about my portfolio. I kept investing, but I wasn't sure if I should begin saving for a house. In the end, I sold everything I owned, and the house needed more care than I thought. I don't know how much longer I can go on like this

[@AlexClarkcompany]

Every one of us has made mistakes at some point. Consider financial planning

[@OscarOwenn]

It's true. I was able to diversify my portfolio across many markets with the help of a financial planner, and the outcome was a net profit of over 400k from high dividend yield bonds, exchange-traded funds, and stocks. It is imperative that you have a variety of experiences, especially with well-known, profitable companies.

[@BaileyJames-zv2ddd]

Do you mind telling me about your financial planner?

[@OscarOwenn]

June Renae Matthysse. If you look her up on the internet, you're going to surely find more information about her.

[@LouisMorganxb3]

I checked her up on Google because I was intrigued. I studied her bio, and I must admit that her qualifications are quite exceptional, removing all doubt.

[@karenjensen2345]

Finally hit the 1M in net worth and if you met us you would Never believe it! One 15 year old car, 1 small 3-2 🏠 house and we rarely buy new fancy clothes. The only thing we splurge on is vacations and helping our kids. We live wayyyy beneath our means and all our neighbors are bitching at us wondering how we can afford all these vacations. Simple, we don't have 2 750.00 a month car payments or a mortgage. Zero debt is the key.🔑

[@StevensVidz]

How much do you spend on food?

[@mh0862]

Just got my escrow statement for the following 12 months. A 19.95% increase. They're doing the same thing to us in Colorado regarding electricity. My first bill in this house in 1991 was 12 dollars and some change. Now, it's in the $70-$90 range not using A/C. The way they do us is fees and assessments. They like to tell us we have some of the lowest rates in the nation. However, the fees and assessments are more than double the actual amount determined by the rate. In summer, we're up to about .27 KwH in the afternoons. You know, when it's approaching 100 degrees.

[@chrism5859]

Not one rate increase in utilities, home owners insurance or vehicle insurance. No increases in property taxes ($575 for 7 acres, house, workshop, tractor barn) because our county managers don't think public employees should retire wealthy. N. Arkansas.

[@APRIL_boymom]

We are falling behind on medical bills. We simply can’t pay them all. Its that or food. It’s how it is now that my husband lost hours at work.

[@Gisela-u8u]

They really can’t do anything to you as long as you make an effort to pay. Send what you can but don’t worry about it too much. If you can only afford $5 a month so be it.

[@vickieclark5931]

Food comes first. See if you can get those bills lowered. Usually you can work with doctors/hospitals to get those bills down to a better and more workable amount. They would rather get something than nothing, so give it a try.

[@APRIL_boymom]

We were ok until I had a sudden health issue (afib) and ended up in two ambulances, three ER visits, cardiologist and over night stay in the hospital without any health insurance . Not good. Pray for us y’all. It’s hard times. God kept me alive for a reason so I’m not going to stress over these bills. ❤️

[@maryklus1430]

Many hospitals have a dept in their finance area..they can possibly remove a large part of bill..I think it's called charitable or something along those line. You have to ask and put your specifics and request in writing...multiple times.

[@Krzwl]

@@APRIL_boymom Per what Maryklys1430 comments below: The Methodist Hospital in my locale in 2011 (before Obamacare) had a faith-based affiliate charity organization that offered an application packet based on a sliding scale of patient's income to qualify for coverage assistance. In a timely manner did they process my application, and I qualified for 100% coverage. I paid nothing to any medical parties involved, including ambulance, labs, hospital stay, etc etc. To this day I continue to praise my Lord Jehovah Jireh for His wonder-working! I pray He also opens this door for you to walk through, Miss April Boymom.

[@joanmerriken9216]

Never would I be so stupid to pay over a million for a closet!!!!!

[@blackworldtraveler3711]

Indeed. A similar property in that condition where I live will be about $100k-$120k I think.

[@victorramirez2891]

In San Francisco it’s just a place to part one’s money w out paying taxes on growth.

[@michaelpowell7120]

From illness I had a 10 day slow pay on a C.C. It dropped my 780 credit score 3 points. This is contagious.

[@patrickmckeown3683]

Here in the Midwest were paying for the people that live on the coast for insurance. That’s a fact we’re all getting hit over here.

[@hvaball150]

Doubt it.

[@EvySurvived]

And the uninsured

[@jjones3566]

Yes, I live in Ohio and my house insurance went up over $15 a month when it was renewed. Never had a claim, I have an excellent credit score, and I have a small home. 🙄🙄

[@HectorGarcia-nb2ld]

I wouldn’t give 300k for that garbage house in little Mexico

[@kilnmaster]

See that's the funny thing about it. Those dumps won't get any where near that.

[@joefer5360]

@@kilnmaster Yeah, but the bank will use it on a "portfolio" of assets to sell to some hedge fund managers. It just junk being passed around in a bundle. What happens when bundle is nothing but these kinds of properties?

[@CA06917]

That would cost twice that in Canada.

[@theboringchannel2027]

@@joefer5360 rating of a mortgage is based on the BORROWERS and not the properties. You clearly do not understand finance, might want to quit while ahead.

[@Ghekko-kw3zz]

​@@joefer5360GFC MK2. Get ready. Probably immediately after the election.

[@PeteKalmuczak]

America needs a new political system 2 party system doesn’t work

[@wxieqdsiwevbks]

YEEEEEEEES BOTH PARTIES ARE ISHHHJJH

[@victormercado5602]

Why can you do something if you think this might change. 😢

[@marklane870]

We are a Republic, democratic party is rather new idea ... satanic idea introduced to Americans years ago

[@chrisniner8772]

I'm living 6 pack to 6 pack.

[@frankcorrea8691]

Mexican beer now is so expensive, only rich people can buy it, 8.00 a bottle in a club, round of drinks for freinds is40.00 and a fat tip for the bar, snd if you don't tip they will discriminate against you ,ex restursnt employee,@😮

[@mikeshoemaker1909]

I left california and taxes went down business went up dmv open five days a week no appointment needed cops nicer crime non existent

[@MarcHasara]

I tried being a landlord 45 years ago in California. My tenant was a young family of 5 in my 1 bedroom house. They tried to extort me for cash when I sold the house to get out from under their constant late payments.

[@williamread8186]

Don’t forget that renters have to pay electric bills too. One of my tenants in a 980 square foot unit said her electric bill was $300 last month. I recently replaced the HVAC on the building so presumably it is an energy efficient system.

[@Gisela-u8u]

Ask her what temperature the thermostat is set.

[@bradknight2618]

As you say, you said it over a year ago. All that changed is one,of the many shock waves that are coming , hit the shore. What’s done is done, lots of waves coming in faster now! Stay strong ! Trust your eyes, and keep them open.

[@MichigantoFlorida]

Good evening Michael, excellent content and your spot on.... too many folks bury their head in the sand and fail to manage expenses. When they get hit with reality they simply blame someone else. Keep up the hard work you do preparing worthwhile information.

[@missinglinq]

Southern California here. In August my electric bill was $900. A/C ran every day.

[@CalvinMorris-cf8jk]

get a hillbilly 6 speed swamp cooler, same as running a fan. running it 24-7 will run you around 50 a month.

[@youvegottoseethis5615]

Insulation, infiltration, ventilation. Learn about it. Do it. Save.

[@JBoy340a]

It was really hot in August. Hopefully it is much cooler this month.

[@martiben1896]

Michael you got to check out Naples Florida. Homes sold for 200-300k and now they want 700- 1m for homes that are 2/2 and built on the 50s

[@doloresofcourse]

Pacific Heights is an awesome movie. I saw it in the theater back in 1990. One reason why I will NEVER rent a piece of property to another person.

[@adoss7273]

My insurance policy jumped from $3200 to $5200 (+$167/mo via Citizens). You can bet that I will be passing that $167/ mo increase STRAIGHT THROUGH to my renters. Renters are not immune from increases in prop tax and insurance.

[@hvaball150]

Renters pay full price plus markup.

[@treesnmoguls]

Don't count on them paying it. Would you??

[@francismcpherson3597]

We replaced our roof. Put in a claim to the insurance to hopefully decrease the rate. Nope the insurance just made an update of the house. They are there for the money not helping people.

[@TwitX2007]

The only reason I haven’t purchased an electric car is because with my gas car if I can’t afford gas, I’ll still have power in my house. If I can’t pay my electric bill I wouldn’t have a car or electricity. F that

[@NrthrnKnght]

EV are a scam wait and see

[@hvaball150]

An electric car is easier to air condition.

[@revvolutionnews5307]

Renters often pay for the home insurance because it’s baked into the rent. That’s what I do for my rental property. If it goes up, it means I will ask for more rent when the lease renews or with new tenants.

[@SpiritedMB]

22% Increase for my triplex last month...

[@5dc61]

That’s just the way it works, and it goes for everything. No one is taking a cut the raise in cost just gets passed down to the consumer.

[@JBoy340a]

Yep. Few landlords lose money on the rent.

[@kkii729]

You always know what makes a great video!

[@Avo7bProject]

I have several rentals, but the tenants have been there for many years. I'm fortunate that the tenants have the same view I do, they wring every last bit of life out of an appliance before calling me. That's allowed me to keep the rents below market; and in turn this keeps the tenants in place, because they can't get a better deal and will not move unless they really need to. I'm not charging the world in rent, I just want to pay off the mortgages and taxes, and work with tenants I am familiar with. Turnover takes up time, cleaning and prepping a unit for new people.

[@rodgerpetrick6502]

Exactly. Whos fault is it. Wall Street, our government.

[@doncastleman2441]

Thank you for trying to enlighten the public of what's going on and what's going to happen in the future

[@jimtillapaugh5551]

How in the world 🌎 can people not pay their bills. And still have a place to live or something to drive 😮

[@AlphaJ369]

Car repos are at an all time high and it's not easy to get someone out of their home.

[@CreekSide1779]

I am 2K behind on my water bill.

[@nmccw3245]

The economy is dying. Even dollar stores are suffering. The only new businesses opening up are dispensaries and payday / title loan joints.

[@NrthrnKnght]

weed shops are doing a bang up job

[@frankcorrea8691]

KROOKS!

[@novola1972]

I live in Southern California in the 1300 square-foot condo when I don’t use air conditioning. My monthly electrical bill is $60 into 2024.

[@fstblk5]

I'm so glad I paid my Rav 4 off 1 year and 4 mo early 11/2023🎉😅

[@mrlarry999]

I just received my PH&E bill via email this morning: $142. Last year I was averaging about $45-$50. I have upgraded my computer with 3 32” screens, but I only run it about 8 hours a day and shut it down at night. 1-BR apartment.

[@annoyed-b3y]

WE say yes. ressession is already been killing retail. Dell laid off 30k people. game over

[@neanam]

Game just getting cranked up

[@gabrielmoody1708]

Retail has been dying for years and it wasn't because of online shopping either! Once the cards are maxed you are not shopping with credit at all and is the main reason all these businesses are going belly up! An economy using debt to prop itself up is bound to fail eventually!

[@ninjabongtoker1]

24000$ a year is 2000$ a month and thats rent for a house you already paid 1.5 million for

[@Mark-pb8kj]

well when you put it like that...

[@allegrabraun7545]

Sell stuff!!! Keep the dog

[@frankcorrea8691]

Dawgs are your best freind they don't run around znd cheat on you 😮

[@georgewbush6999]

Yup, i am falling behind on my bills. i am done

[@thresapalmer8728]

My house is total electric and my monthly bill is insane!!

[@kimdavis5403]

How much?

[@KellyBoettcher-qo9tx]

Yep liberals

[@wxxw-pc7qq]

Say what ? Please explain