"The Housing Market Makes No Sense!" - Why You Shouldn't Buy Right Now | Morgan Housel

Check out the full interview here! - • 99% Of People Watching...

[@MarkLeonard-xn8zs]

The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!

[@SmithJones-yx1ut]

I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?

[@Williamsmthe]

How did you achieve it? I been trying to stick with index funds. I feel this new interest rates hikes could crash this economy. I'm looking out for a better investing strategy, I have a lump sum that inflation is steady eating up.

[@SmithJones-yx1ut]

She's "Tenley Megan Amerson ". Also maintains an online presence. Just make a simple search for her name online.

[@DavidLuiz-nd3dn]

Thanks for this. Found her and looked through her credentials before contacting her. Once again many thanks.

[@DeeJayDyer]

So sick of people talking about the low unemployment rate, without mentioning the quality of those jobs. The gig economy, the stagnation wages in relation to productivity, it’s so dishonest

[@BPoweredLove]

Not to mention that the number isn't even accurate to start with. Unemployment is not remotely close to "less than 4 percent".

[@DeeJayDyer]

They take people off the count, after one year!! They legit changed the definition

[@andreamathieu8996]

Exactly! So disingenuous.

[@vtec224]

doesn’t unemployment rate only count people receiving unemployment pay and doesn’t account for people who straight up don’t work?

[@DeeJayDyer]

@@vtec224 might be wrong.. but there’s people filing for unemployment assistance that can be compensated a percentage of that pay if laid off due to no fault of their own. And then there’s just the unemployment rate, that is total percentage of working age population that is actively looking for work. I believe after one year of being unemployed, you’re no longer considered part of that pool

[@user-fs2uy5ip4b]

It is utterly amazing how convincing a super confident person can sound even when their ideas are trash.

[@XeL__]

when i hear carnist bashing veganism and whole food plant based diet "ah yes the 9 essential amino acid 2 essential fat and 0 essential sugar found in plants. vitamine nad mineral" "ah yes b1 b2 b3 b4 b5 b6 b7 b9 b10 b12.. what about b8 b11 ? and what do each of them do? source? absorbsion? mechanism?" broteinz tho gnut gnut meat tho gnut gnut yea i see that patern alot

[@Ex_877]

Agree, this guy's brain is trash.

[@davedefea5530]

Literally everything he says is backwards, in the real world. LOL

[@RickyCarilli]

100%. This is horrible.

[@RickyCarilli]

Tell me you’re a Biden supporter without telling me you’re a Biden supporter…

[@cmo5807]

Cant listen to a guy saying that right now people are better of financially than ever... I know more people struggling now that ever. Good lord anyone these days can write a book.....

[@BPoweredLove]

So I guess you're not picking up a copy? 😂😂

[@XeL__]

350 pages, but no one want to buy mine so i rant about it online for free. when im dead starving peopel can enjoy my free book lol

[@NickBeKnowin]

they are better off financially, people just buy stuff the dont need and dont know how to shop properly based on their situation

[@anthonylozano8035]

stop watching after hearing that

[@BPoweredLove]

@@NickBeKnowin I'm debating whether or not to pry your thoughts further. You're right about people spending incorrectly, but the "they are better off"... No.

[@yodojo3493]

This dude actually believes poor Americans still have that 1200 dollars from covid. Yikes Tom.

[@hogue3666]

That's where he lost me. 2020 was the largest transfer of wealth to the S&P 500 in human history. It'll just trickle down to the leiman though. :)

[@alanjosephproductions]

this content is likely old ... I watched some of Tom's stuff that is eight months old but, just published .. I know because they sometimes mention the current date. ☹

[@janelbrookshire7011]

@@alanjosephproductions That would make more sense… Most everyone I know wasn’t in a position to save it!

[@legomaster7770]

Between state and federal unemployment and the small covid direct payments, I received at least $70,000.

[@XeL__]

rich people dellusion

[@philipp3001]

If you close your eyes you can hear Chris from Family Guy

[@algorsmith8381]

🤣🤣🤣

[@lati_da]

😂

[@LeonbanksJr]

😂😂😂

[@KEAHON]

I thought it was RFK Jr.

[@XAUCADTrader]

I can't unhear this now!

[@kevinellis92]

I laugh at these people who think 6k in stimulus checks caused every one in the U.S to stop working for 3 years. Crazyyyyy

[@alexsulewski2497]

It's not just stimulus checks its also PP loans and like 3 years of student loan forbearance.

[@jakestarr4718]

i agree Kevinellis, go look at snap benefits listed. 82% of the population currently qualifies for snap/ebt. Information is being cleverly displayed where it hides what is happening. I am scared to buy houses honestly, not because i don't think i can afford it specifically. I just don't believe i'll be able to retain a job long enough to pay for it.

[@g00bers24]

My check was gone in 2 billing cycles lmfao. Wtf is he smoking?

[@jakestarr4718]

@@g00bers24 he's smoking other peoples money obviously and hasn't had to spend his

[@SteveDutton-v]

In the current economic climate, a home is not the best investment. I've already sold my Boca Grande area home, but I want to invest roughly $200,000 in stocks since I've heard that even in challenging times, investors may turn a profit. Any excellent ideas for stocks?

[@mikey43221]

The truth is that if you make the right picks, you could make killer riches very quickly, although such profit usually needs expertise, as in hedge funds or financial managers. I personally prefer the latter.

[@WillieNickell]

I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $200k after the 2020 crash. I invested the money using an analyst, and in seven months, I raked in almost $673,000

[@AllenNichol]

I'm actually interested in this idea of investing through an analyst. Sounds like the most sensible thing to do in the market right now. Could you give me a pointer to who you work with, please?

[@WillieNickell]

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

[@AllenNichol]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@RealPeteRyan]

This dude seems like he read a lot of things on the internet.

[@taurus1305965]

Yeah, all the wrong ones. 4% unemployment is laughable. In reality it's about 23%.

[@Misaka-gt5yj]

@@taurus1305965 This content creator doesn't understand nuance in statistics. Unemployment % is only due to the reportable values and doesn't include per diem labor.

[@Wo1fLarsen]

Agreed

[@Wo1fLarsen]

He's in a bubble, reading statistics.

[@Tomana_]

hasn't everyone? LoL

[@Brightdays55563]

Rich boys are oblivious to real world people.

[@rickhaberman1202]

yep if I don’t eat. don’t buy gas, turn off electricity, self insure , inflation false information is correct. unemployment and real inflation are much higher!!

[@ll2323]

Maybe don’t drink water while ur at it. 😂

[@XeL__]

spot on. i either eat or pay rent. so i have to work to pay rent and give free time in shelter for food. 80 hour a week legal voluntarily slavery (if im not volontere im allowed to starve to death )

[@beatdown3361]

100 percent. Rice and beans. Beans and rice. Hide from the world or any activities. Shower once a week. Toughen up people!!!!

[@Jacob-py9mx]

I am 23, active duty military and I spend like $1800 a month for a one bedroom apartment

[@zombieapocalypse3837]

I hope you're getting a decent housing stipend, when I first arrived at Travis AFB in 1998 the housing stipend had not been adjusted to the local housing market, it was eventually and that helped a lot. But I just ended up renting a room from homeowners that were also trying to make ends meet. Choose wisely when resorting to renting a room though, retiree homeowners seem to be the most stable that are looking for reasonable rental income for their rooms.

[@Keepithonest7]

Short term rental properties have caused some of that

[@jimb3093]

Hope you getting BAH.

[@joshgraziosi8159]

You need to live in the barracks, my man!

[@RegretfulVet]

Re-up for Hawaii duty station then ERD your spouse = BAH for Hawaii & Home of Record. I had to send my wife back to Boston from Oahu & i banked my dick off

[@truthseeker4446]

I feel like this guy is normalizing the shit our government does to cause these issues…

[@ltdonnellan]

I want to know who’s getting an 8% raise and in which industries?

[@Dr.Sortospino]

Semiconductor.

[@faithsrvtrip8768]

Government

[@alexjones7845]

Some of the higher skilled or specialty jobs. For instance, engineering types working for large corporations that are seeing large increases in company revenues year over year (partly due to increase in government spending contract) are having to increase compensation to their above average value employees. But, this really only applies to employees that can clearly show to their boss that they create value for the company's bottom line well beyond what they cost. Pretty common for those employees to see annual 8 to 10% salary increases each year over the last three years.

[@BPoweredLove]

In his head. He made it up. Or he is mimicking someone else who made it up.

[@HarrisonCountyStudio]

In general…. A super majority of W-2 income earners are Not getting an 8% raise.

[@Galaticape]

For him to say that the poorest benefited most from lockdown is misguided. 80% of Americans live pay-check to pay-check they still had their bills to pay and with the cost of living has eaten up the small amount they were able to save. The wealthy benefited most they weren’t able to purchase their luxury cars, boats, holidays etc so they built up a huge amount of wealth.

[@specialk2514]

Truth!

[@privatecitizen4001]

I was cutting grass all day fir these rich ppl getting payed to not work. Lucky me

[@deathtodiablo7402]

@@privatecitizen4001I was cleaning there pools

[@The1JBanks]

@@privatecitizen4001doing HVAC new construction the whole time during Covid. We were considered essential I say expendable while everyone else set on their ass and collected a check.

[@derylrobinson]

The cash that was handed out to the poor quickly trickled up into the accounts of the rich. The rich used it to buy houses.

[@BPoweredLove]

I've never heard one person go from being correct to wildly incorrect to back to correct so often in such a short amount of time. 1) housing market bubble shall burst 👍 2) unemployment is below 4% (untrue) 👎 3) very high housing market with high interest rates and high unemployment, "everything falls apart" 👍 4) lockdown stimulus "benefitted the poorest people the most" 👎 I'm too exhausted to continue. That's all just in the first 3 minutes...

[@WhateverCastOfficial]

Spot on. I agree.

[@jasonnowicki5066]

a normal person needs to sit this man down and explain to him how wrong he is on those two points

[@smb2735]

Almost everything this guy said is a sophism. Incredible.

[@maxamillie96]

This guy is delusional

[@BrookePrice82]

Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you

[@StateAlchemist7]

I think what he's getting at is that before covid people made the legal minimum wage, and now their income has doubled to around $15, so yes, they benefited the most as far as percentage. What he fails to consider or neglects to mention is that it cost $18+/hr to live off one job.

[@agates9383]

He fails to differentiate jobs from good high paying jobs - but he's spot on regarding the housing mkt, Im a builder in AZ and its f*cked

[@1ireneaustin]

BOTH OF THEM! are delusional

[@MDMC313]

Less than 8% of the trillions of stimulus went directly to the American people. Its been years now, when will these people stop acting like the poor got millions of dollars each and they are just sitting on this magical bags of stimulus money that's never ending.

[@janelbrookshire7011]

The economy is good? Groceries, fuel, etc etc etc ~ This guy is delusional?

[@Dr.Sortospino]

But that’s the problem. The economic is Good for any metric you take. The problem is that the data are correct, but the map is not the land. Unemployment is low? No shit you need to jobs to survive.

[@haleybloss9685]

Yep! Delusional for sure!!

[@MustbeTheBassest]

​@@Dr.Sortospinothis. The economy is doing amazing for 5-15% of the population. They've never had it better. Making record profits. Except for everyone else, who have lost half their spending power. I make 2-3x as much my parents did when they were my age and can't afford 1/3rd of what they could. The economy works great for the people who decide what to measure.

[@utawmuddy5940]

excelent observation, I feel like people pick a side ignore reality and quote stats that are clearly incorrect or do not properly depict the situation. I almost rolle my eyes when the stats come out weather correct or not just bc I feel like the gov and medical plus other industries have consistently destroyed the trust by consistently lying and trying to redefine words and new terms that aim to confuse and disarm. I was mind Fu@ked after a basic college stats class, "so what your telling me if you dont know enough and apply the wrong statistical method it will be wrong or if your smart and use the right statistical to achieve the interest of entity paying to do the study to "achieve their implied wants" then its considered right (it would have actually been better to use other method and it was their discretion so if went to court would be too ambiguous to go after) even though its wrong. @@Dr.Sortospino

[@Dr.Sortospino]

@@MustbeTheBassest I am in the 1% and the economy is doing good for the 0.05% . Everything will be shit until you allow people like Cardone and company brag about how they don’t pay taxes

[@marcwilliams4246]

Guy clearly doesn't understand economics. There's massive supply restriction because of regulations and limited skilled workers. Until that changes prices will not go down

[@peej91]

supply is actually eaten up by investors. sooner or later they will be regulated more and more

[@marcwilliams4246]

1. Investors aren't looking to lose money. 2. Regulation would take political consensus and a willingness to shirk the donor class so I'll take later, much later. 3. Even if you got rid of the investors it's still a shear numbers game in which the demand for homes outstrips the supply by millions of units. Prices are going up because of inflation and the fact that people are competing for what's available and that's not changing without some massive market shifting event. 4. When the Fed eventually starts cutting interest rates housing prices will go up even more.

[@peej91]

@@marcwilliams4246 housing market can’t keep going up to infinity… it’s part of the reason why inflation is where it is. If the demand does not tame which the feds want I would not be surprised if they raise interest rates even more. More money being lent will make a bag of apples cost 100 dollars and that would be bad for everyone. When the fed cuts it will be when job losses occur or when the damage has been done. Which is why everyone is waiting. Signs already are showing

[@John-wf5if]

Record mass migration also helps price keep booming. It's effectively a population Ponzi scheme.

[@misterogers9423]

I agree. Look up Q4 2024 PE firms and banks holding residential real estate. 8 of the 10 largest portfolio are down, some massively. If it is isn't profitable, they will be much hesitant before they buy. A bigger crash will kick out the corpo holdings even more. That being said, I think there two many variables to predict things and individual market will vary wildly. The biggest thing I agree with the video is the unpredictability of the future. Too much emotion, and mood does seem down.@@marcwilliams4246

[@firstlast-od3oj]

I heard 8% raise every year on this video and another video mentioned 5% yearly raises. My question is what industry is this? we get 2-3.5 way below these perceived normal raises mentioned in these videos

[@faithsrvtrip8768]

Government jobs with public employee unions.

[@privatecitizen4001]

Congress and senate gave themselves a raise. Illegal aliens get free school and medical care and food stamps. Stop complaining and work five minimum wage jobs

[@BPoweredLove]

Oh, you haven't heard? In Fantasyland, annual raises are around 8%. In Utopiaville, the capital of Fantasyland, raises are even higher, closer to 15% annually.

[@joshgraziosi8159]

Agree. My company does 3% yearly. Doesn’t even keep up with inflation.

[@firstlast2386]

​@@BPoweredLove😂😂

[@BodhiTreeCIO]

Former macro manager here. Consider yourself lucky if you’re currently renting. The next few years will be epic.

[@Originalroyalguard]

Absolutely. Excessive mortgage debt may prove to be a very bad place to be and today's renters may become tomorrow's buyers.

[@wcsartanddesign]

Saw the writing in 2016... had the chance to own, meh deal admittedly, chose to rent. It simply makes zero sense, atc. If I wanted to sheep myself off a cliff, I'm confident I can invent other less fantastical scenarios haha.

[@paulroy2645]

What do you mean lol

[@eddiemalvin]

​@@wcsartanddesign You didn't buy in 2016 and that was a GOOD move? I guess it all depends on location. Where we live, home prices could drop 50% and they'd still be significantly higher than 2016 prices.

[@dee3953]

15$ a hr. Is not a job. Lol. This man is lose!!! Why is he on the show

[@Hethalean]

Because most people dont know how to live within your means. 90% of america you can make 15 an hour work.. but not maybe in nyc la Chicago. Doesnt mean the hyperbolic statement "it is not a job!" Makes sense

[@ll2323]

@@Hethalean 90% ?! Absolutely not. Especially, in the south, people are still making minimum wage working multiple jobs.

[@BrookePrice82]

Unemployment reports are garbage he is clueless on unemployment, numbers are unreported and if you can only find part time they don’t include you

[@Spizort]

If you are an adult working for the legal minimum, you’ve really failed. But you can still gains skills and move forward

[@myresponsesarelimited7895]

The hell are you talking about- you think nobody is in that wage bracket- the richer you are the more judgey you are. But we can can argue the point...

[@dccoaching2867]

It’s not a good feeling working everyday and still can not buy a home

[@privatecitizen4001]

You wouldn't own it anyway. Your renting from the government.

[@derylrobinson]

I agree it sucks. The only option is to save and take advantage of decent interest rates until the market corrects. It won’t be forever.

[@MustbeTheBassest]

​@@derylrobinsonyeah, it will definitely not last forever. Just long enough for you to miss your fertility or must productive life window. Don't worry though, once you are 55yrs old you can finally get a starter home and start a family. 😂

[@aaronvoss748]

​@@MustbeTheBassestNo kidding!! I'm 42 and didn't think about buying a home till I was 30 when I started a family. Boy did I screw up! I found several places between 2012 and 2019. Man land and houses were fairly cheap! Part of it was my wife being afraid of being commited to a house!!😂😂 Duhhh!! We really screwed up!!

[@ll2323]

@@MustbeTheBassestu just defined 70% of millennials.

[@IakonaWayne]

eric weinstein told tom years ago, that young people have given up because they have no chance with these housing prices, educational cost, healthcare cost, and an onslaught of immigration.

[@laj9832]

It’s a lie from the media and left. They want to stop kids being born.

[@joshgraziosi8159]

That was the plan. It is working.

[@mikestaub]

Recessions are an innate part of fiat systems, not hard money systems. They are tools of wealth transfer as the asset-holding class understands how to ride the wave, but retail doesn't.

[@dianabraley8307]

My hubby and I qualified for about 350k for a home in 2019 right before Covid hit. So we started looking into 2020 and we could only find very high priced condos and broken down homes. My hubby is a vet and the loan company would not approve a loan for any of those properties- so we were in limbo. So we decided to rent again and we are now in a high rent place 2500 per month and the same houses and condos are now 450-500k. I feel like I’m trying to hit a moving target. Each time I take aim and have my ducks in a row the target moves again.

[@nomandatoryvaxing7433]

Move to a rural area. I sold my home on Long Island, NY for a $160k profit and took that money and moved to southeast Tennessee and bough my home cash for $215k. I also went from 3bed1bath to 4bed3bath. Went from 800ft2 to 1700ft2. Went from 0.15 acres to 3.5 acres. From $8500 property tax to $749 property tax. From high state income tax to 0% state income tax. From $140 car insurance to $47 car insurance. Plus I make the same exact money here. I went from living paycheck to paycheck and both me and my wife working to my wife being able to stay home and raise our children properly and enjoy her time to only me working and I don’t have to work a ton of overtime anymore and I’m now able to save $2,000 every month and that’s after investing in retirement too. You just have to bite the bullet and leave expensive places to live. Our ancestors would always follow the buffalo or move to where they could find land and water and we need to do the same. We can’t force ourselves to stay in situations that are not sustainable and that high rent is absurd. You can find really great places to live if you look. North Georgia is a really affordable place to live and very nice. Same with South Carolina. A lot of places actually. Good luck.

[@edmetcalf3283]

I believe he is wrong, or has believed the Lie on.the unemployment... it's much higher. Many, including my adult children have stopped looking, as they cannot find a Job where they can afford to go to work & live...

[@chrischris9157]

So what do your loser kids do all day?

[@Squiddster]

The problem is most don’t understand the unemployment number. It only counts those people receiving unemployment benefits. People laid off receiving severance pay and not collecting unemployment benefits yet are not counted. Those who benefits have ended are not counted. And those who have stopped looking are not counted.

[@richarddebono7092]

He's oblivious to the fact that so many people lost decent paying careers & are now forced to work 2 & 3 shitty jobs. So, even though there are more jobs there is more work for less prosperity. He talks about recessions without mentioning a word on the boom/bust cycles that are created by inflating fiat currency. Totally clueless.

[@Roninbuilt]

Agreed. His believing “official”unemployment number ruins his credibility.

[@edwardmiddleton3541]

He is wrong on many metrics, including savings which are at an all time low, and credit card debit at an all time high.

[@spaceantelope1]

This man believes the statistic on unemployment, so it’s hard to take him seriously. It isn’t 4 percent, it’s closer to 15 or 20.

[@jimg6970]

Not even close. If you want a job there’s plenty of jobs out there.

[@Dr.Sortospino]

What?? Try to apply for a job that is not with minimum pay and tips and let me know how long it will take for you to get one.

[@edmetcalf3283]

Should have read the comments 1st... you nailed it

[@osurulez35]

Totally agree. People are working 2 or 3 jobs to earn what previously could be accomplished with a single job. Kinda basic if you have a lot of very low paying jobs available that isn’t great for the economy if most people are burdened with debt and living paycheck to paycheck. Can’t think of this guy as an expert.

[@brianfantana6522]

Its more like 55% they dont count college, seniors, stay at homes, disabled & anyone who hasnt claimed unemployment or reached the annual limit

[@kevinhuffman3815]

Households are in better financial shape than they've ever been in a long time? This kid is delusional

[@jimg6970]

The data backs up this claim.

[@privatecitizen4001]

My bank account data disagrees.

[@MustbeTheBassest]

Households of people who already own homes with a 2% mortgage. It's a story of haves and have nots.

[@kristofderop1653]

What was it 3 out of 4 americans does not have atleast 1000 dollar in their account for emergencies? Saw a few of those datepoints pass the last few months. DId not look so swell.

[@dmonty4354]

Then why is personal unsecured debt at record levels? Also, the levels of people not paying on their debt is rising. I couldn’t waste any more time watching this. Just too out of touch with fly-over Americans.

[@user-yq7xf2ss6e]

One of the major things I take in count us the price of groceries going up every time I go to the grocery store

[@shelle.angelo]

Keep in mind that during the 80’s people were encouraged to save due to the interest rates. Right now there’s very little incentive to save because those who are saving are watching those who are reckless taking it in. I’ve been trying to save for a home and it’s been discouraging to watch prices continue to not budge because there’s people willing to get into a mortgage where they’re paying 40% of their income. It’s insane.

[@spacecadet6]

To balance out your real estate holdings, I suggest investing in equities. If you're cautious, even the worst recessions can present fantastic buying opportunities. Additionally, volatility can produce fantastic short-term purchase and sell opportunities. This is not financial advise, but you should buy immediately away because money isn't king right now!

[@KBG2010]

This dude is clearly not poor. We spent that covid money within the hour of getting it. None of us saved it. He is quite out of touch. Our economic standards did not rise sir, that was the billionaires. A new billionaire was created everyday during covid.

[@highheatrichie]

Problem with the jobs that are added are part time service jobs with low pay while high paying jobs in tech and energy do lay offs lol

[@TheBid]

Exactly!!!!

[@highheatrichie]

@@TheBid Problem with this macroeconomic numbers like CPI is they always have biased data sets. Wooo non farm payroll shows 800k jobs added!!! Then you look 500k jobs lost full time high paying jobs, 1.3 mill jobs added at mcdonalds and starbucks!

[@007MegaRoll]

own nothing eat bugs and be happy idea again?

[@privatecitizen4001]

I'm halfway there already. Minus the bugs and happy parts.

[@isaacs.8788]

This guy is in fantasyland …

[@350zLeMans]

He's completely detached from the reality of living on low wage 20 to 30 an hour here in CA is no longer a good income

[@pjbecker6722]

There are not many people who have savings and people are living on credit. This guy is talking in generalities that are completely incorrect..

[@avalerionbass]

All hail our feudal lords who briefly allow us basic survival needs!

[@XeL__]

hehe

[@JC-sc9rx]

if all these people died from covid(like they say is happening every day, STIIL) we should have surplus home supply. if there is a housing crisis and they really cared they wouldnt be inviting so many newcomers to the nation either, End of story

[@thelawgang]

buy bitcion, or miss out and complain later. facts

[@Kragum24]

Or loose everything because of Bitcoin.

[@nameetbhawani4969]

Bears predict a million bubble bursts, and when we see one in a century, they rejoice in confirmation bias , sigh.

[@jamesdriscoll5099]

I'm in the tech industry. For techies, this is the worst the market has been in a long, long time. A lot of low paying jobs doesn't mean that the economy is good for most. Allot of people are struggling.

[@Truth-op3be]

We purchased our house in 2019 in middletown NY at the time it was 2.25 % interest rate 🙏 … we won’t see that again ‼️

[@brianmeeker5786]

We are facing hyperinflation that is the only thing that explains anything

[@shawnarossoukh5306]

Who is this guy? I don't think he did his homework before the show!

[@hogue3666]

@3:15 I'd love to see some numbers on the thought that the people who benefitted the most during covid were the poor. Please let us know how Sam Walton took his beating when his stores were the ONLY THING OPEN during this time. Trillions of dollars DIDN'T go to the people who were willing to work that year.

[@PeaceIsYeshua]

Home prices are definitely insane in Texas. Homes used to be so affordable here. :/

[@jon4823]

Wait until the mortgage rates go down and people can afford more house for their money... These are the new prices. Get used to it.

[@Amandapanda11144]

I’d like to know where he’s getting his information and stats from because he’s saying some wild claims.. “poorest people benefited the most from the pandemic”, “unemployment rate is the lowest it’s ever been”, “the economy is good”. Say that to middle class America living paycheck to paycheck barely able to afford food getting paid scraps.

[@katieandnick4113]

They are, by definition, not middle class then.

[@JohnDaniels]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" -Thomas Jefferson

[@RetrieverTrainingAlone]

Consider these 2 factors: 1)Mortgage rates will decline in 2024 when the Fed finally starts reducing rates. More buyers will be able to afford a mortgage at 5% compared to 8% for example. 2)The supply of houses is low ...almost half of pre-pandemic levels. The price of houses did not decrease substantially even when mortgage rates increased. Demand exceeds Supply = high prices until supply increases substantially.

[@TheMagache]

In Canada, you have to renew your rate every 5 years or less generally. That's usually the max time period you can lock in your rate at. Your amortization will be 25-30 years but new rate every 5. Our current rates are 5%+ but 3 years ago they were as low as 1%. Our average incomes are much lower than our US neighbours and our housing prices are even higher. Doesn't make any sense.

[@PatamaGomutbutra]

There is nothing be like that forever esp the mania in any asset. At one pount if the housing is unaffordable - the cost in paper could not turn to a real food - that is a crashing point. With out correction, it will be crash instead.

[@AidenMarcelle887]

This guy also doesn’t understand that this can not only continue but will likely get worse. All because private equity firms are buying all the houses and can afford to keep this going until they’ve turned this country into all renters.

[@edmondopowell]

A mortgage is debt not buying a home!! Stop paying it and see what happens! Mortgage holders are not home owners they are leasing them off banks while paying the mortgage

[@neoncorolla6917]

I remember watching a video around 3yrs ago that go on to tell you that you will be influenced to not buy a home, and renting is the new fad. They do this so you will never own a home, and black rock will own everything and increase rents increase at will.

[@perspectiveiseverything1694]

Don't have to be convinced. The system has been rigged all along and it's now extremely difficult to buy a house in the market they created.

[@DawitWondim]

"If you want a job, jobs are out there". Yeah sure, if you want to work for McDonalds or drive for Uber.

[@NicholasBall130]

I sold a couple properties in 2020 and I'm waiting for a house crash to happen so I buy cheap. In the meantime, I've been looking at stocks as an alt., any idea if it's a good time to buy? I hear people say it's a madhouse and a dead cat bounce right now but on the other hand, I still see and read articles of people pulling over $225k by the weeks in trades, how come?

[@EleanorBaker474]

You're not doing anything wrong, you just don't have the required skillset to profit off a down market, folks that are making profit in this market are pros and experts with in-depth knowledge and skillset.

[@StacieBMui]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@StocksWolf752]

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

[@StacieBMui]

Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.

[@DMAN590]

I'm making more money than ever, but it sure as hell doesn't feel that way. For the things that actually matter to me like being able to get my family a house, I'm further away from that than when I was making half as much 7 years ago

[@Neighborhood735]

I hate this government

[@Marva123]

4th option: everything stays the same and the volume continues to go down in home sales.

[@kelliefreedman4788]

Thanks Tom keep the cutting edge info coming. I’ve sold my home bought a 80 k fifth wheel a 1 ton pick up. Traveling crazy and invested big bucks. Keep me posted gotta jump out of housing market. No debt is always in fashion and should be a priority! That’s freedom my friend.

[@aaronvoss748]

I don't care WTF this guy thinks! This is more screwed up than anything I've seen and I'm not one of those people that forgets. There is something really fishy about a ballooned stock market, untouchable housing prices, crushing prices at the grocery store, high utility prices, high gas prices that are artificially lowered(by draining strategic reserves), watching and seeing people "in person" not being employed, goverment debt at 35 trillion. This is way worse than '08. It could be said that the problems in '08 never stopped. Trump certainly stopped them while he was in office, but since 2020 this stuff is in overdrive. This guy either believes the lie or is capitalizing on the lie and wants it to keep going.

[@lisaharper1827]

Trump didn’t fix anything. That is the big lie, my friend.

[@350zLeMans]

Apartments in my area central california are 1800 1 bd, my pay from my main job after taxes is 2500 a month thats full time 26 an hour, i have to work multiple jobs to be able to save

[@AcidicMentality]

Bought in 2020. My house has nearly doubled in value. My mortgage is locked in at 3%. Best financial move of my life.

[@dccoaching2867]

Too bad it’s fake value and will eventually adjust to its true value

[@jayybird0096]

We sold in 2020. Worst mistake of our adult lives. Can’t afford to buy a home now.

[@faithsrvtrip8768]

I sold my house in 2020 with a 2.75% mortgage and it was the worst financial move of my life.

[@privatecitizen4001]

Your happy about your taxes doubling? That's odd

[@BPoweredLove]

So you got lucky with the exact and ONLY scenario that really works. This will continue to be great news for you as long as you don't need to sell the house for a decade or more, because that "nearly doubled in value" is likely not even true today as you typed that. Zestimates are very clearly wrong. If you tried to actually get that "nearly double" by selling, you wouldn't. But your 3% rate is great, so hang on for dear life.

[@user-ji6qj1db3u]

You should buy now because the sellers and the crooks called brokers know they don't have leverage. Their back black door deals are done. houses have gone down because these crooks listed these houses OVERPRICED!! Realtors crooks.

[@ArunKumar-bp5lo]

buy in a remote site , away from city , calm life, less money.

[@XeL__]

then you work where

[@iishirkerii9540]

How to save up to buy a home. Eat only corn. Shit out the corn. Rinse it off and repeat. Infinite money saving glitch

[@realjoedee]

What needs to happen that our out of touch boomer politicians don't have the will to do is eminent domain all foreign and corporate owned single family homes and put them back onto the market at 2020 valuations. Do that and the market would correct overnight. Now that's the short term solution. The long term solution is revoking all regulation and zoning that is impeding building more homes.

[@ctm8633]

You hit the nail on the head. Corporations should not be allowed to buy houses. They bought up everything they could after 2008 crash and now normal people can't buy but nothing will ever be done about it. Nobody even talks about it.

[@RStone23]

I bought a fully bricked nice new home on a quarter acre lot for $179k here in the state of Arkansas. I'm glad I bought it.

[@claycarpenter8625]

You guys don't realize that when they say households are making more than they ever have is true but they only count the gross worth coming in and not how far it stretches.

[@MrTherussellfam]

40 year mortgage will be in play in the next 2 years

[@missylearned9821]

Doubt it. Maybe, but for a scant few. Too much mobility today to lose 3-6% to a realtor every time you have to move/sell in a 40 year period. Maybe 50 years ago when people stayed in the same home for decades or even until they passed away.

[@radiologicphysicist1083]

Bingo

[@Originalroyalguard]

I do tend to believe that the unemployment rate has exceeded 4 percent and that the data is highly manipulated. However, I work in Vegas in a major showroom and I also worked in the showroom in 2008 and I can tell you that Vegas is still humming strong and therefore the levee has not fully broken ... YET. The response in 2008 was a brutal 60 to 70 percent cut in ticket sales and today we are running up the mountain at full speed, so I dont know what to think. I understand that local pockets of unemployment are rapidly ticking up making it brutal to get a job in certain areas but I can't see a contagion that exists in the overall unemployment as of today, although I expect it. That being said, I believe the probability that the system will break due to an exogenous event is VERY real and more likely than not. I also believe that corporate and personal debt will be absolutely damming when this occurs. As Tom says "Only the paranoid will survive".

[@sjtfunclub]

You make a lot of sense. Could you give me a tip when you sense a change coming?

[@thetroothhurtz]

Call this guy Blanket Statement McGee. HE'S CLUELESS!!!

[@Starfish2145]

Who the hell is this guy? Households are not in better financial shape except the wealthy!!

[@trevorm9551]

Home prices won’t come down because they are the hard assets the market is using to offset rampant government spending, debt and monitary debasement

[@a104917]

"one of these 3 things HAS to happen: incomes need to go up, mortgages rates down, or housing prices down" NO BUDDY THE MARKET CAN STAY IRRATIONAL MUCH LONGER THAN YOU CAN TOLERATE IT. IT IS UNDER NO OBLIGATION TO MAKE SENSE TO YOU.

[@jack12343]

What I can't understand is why Tom Bilyeu (who is almost 50) thought wearing a backwards baseball cap was a good look. When will men start acting and dressing their age?

[@snizzypoosexcellentspooner2468]

If they counted unemployment like they did in the 70s it would be 25%.

[@danieldillon6436]

Not true, I bought a house in 1992 and the interest rates were 9.5 % and the house was very over priced.

[@nkkren87]

There’s no way of knowing if it’s bad now or bad in the future or good now and good in the future the cost of loans are definitely high, but people have been calling for a crash for years now impossible to predict. You also don’t wanna be a renter forever I had friends who kept waiting for price to come down in 2016 that didn’t work out. I do think there will be a correction at some point here but I don’t know when.

[@beablos]

The market isn't going drop because of increased interest. people already own their homes and wont give up a 2.5% interest rate to move to a 7%. all the increased rates did was reduce supply by limiting forward mobility. New home building is also subject to the same rate increases as well as being directly impacted by inflation. when inflation drops we will see a huge increase in housing costs across the board. Big cities with $1,000,000 starter homes has more to do with the cities them no longer being sustainable. If you want to get ahead you have to leave the city and buy a home now and eat the interest then refinance the loan when the rates improve.

[@JesusIsKingAndTheSonOfGod]

Regardless of this man's beliefs on unemployment, home prices should be adjusting to the rate of sales. The reason they are not, is because they are bought by billion dollar companies. That can afford to sit on assets and manipulate the market.

[@kevinwilson6270]

Keep printing money and funding wars. You get houses prices rise. Obviusly theres alot more behind it but you get the point.

[@__Wanderer]

Yeah but salaries have also increased quite a bit, regulations have tightened since 2008, number of new homes is low, people have long term loans so don't care about the current rate and the gov. keeps inflating assets... Housing wont drop much because the demand is still huge. Many younger people want in on the market and the moment things drop houses will be scooped up giving a floor to prices...

[@LukeMeyer-dq6mr]

Plus investment firms are investing in single family homes

[@__Wanderer]

​@@LukeMeyer-dq6mr also that indeed, they get a fixed rate return that is a pretty safe bet + appreciation of property. I know it sucks but I don't think the market structure is going to change so dramatically in the next 10-20years... Perhaps things may normalize a bit with salaries but still - doomsday predictions of 2008 are going a bit far...

[@seaofcolour7431]

the rise of DINKS was a huge cultural change in western countries and fueled the rise in real-estate prices. When two people in a household are earning income and they have no children who depend on them to support them, they can get a bigger bank loan in direct competition with young families trying to buy their first house. By the late 1980s and through the 1990s, the consideration of dual incomes for loans became more widespread and standardized within the banking system. legislative reforms and a growing recognition of women’s role in the workforce and their financial contributions to households, contributed to the shift in banking practices for better or worse.

[@mikefredd3390]

A job is not a job is not a job. I’m not sure single metric captures this but the income distribution is what we should be talking about.

[@ryansaunders2847]

What excess savings? People still have the 600 dollars they got when they couldn’t work????

[@marioruiz3586]

The percentage amount of people in the lower income communities that saved those stimulus checks is extremely low. All the money ended back with the wealthy. LVMH had never made so much money- their stock was one of the best performing stocks. I agree with the real estate market not making sense, but definitely not with lower income families being in a better position prior to covid

[@ll2323]

This guy is so out of touch from the commonwealth. We are ALL BROKE!!! And we’re pissed off!

[@katlyn2781]

Prices of homes need to come down. It’s sad my husband and I makes $112k and can’t afford a house. I don’t want to be house poor. Also u have to account for property taxes and home insurance with the mortgage. I would like to afford a house with one income so we can live comfortably.

[@professionalaesthetics]

This guy is just very excited about what he’s talking about, but there are so many holes and things that are not true. For example, a ton of people saw 2007 coming it’s not like it’s smacked us in the back of the head and nobody knew

[@MH-et5sn]

Right. He said many things that were just nonsense.

[@rafalrocks]

Households are NOT in better financial shape than they’ve been in a very long time. Most people’s savings are gone, they’re up to their ears in debt, cost of living is sky high and living paycheck to paycheck. If a major recession hits we’re in big trouble

[@southsideschooloffinancial4059]

Why do people keep believing the unemployment rate? It has no meaning because it is inaccurate and the jobs that are available do not pay enough for a person to live above the poverty line.

[@blondspike74]

Same issues here in Australia…except mortgage rates are variable and can only be fixed for up to five years.

[@JacobeKendrick]

I hate the marry the house and date the rate argument and that interest rates are still low compared to in the past. Yes rates are historically low but housing prices are historically high. Unfortunately we still have super low inventory. Low supply and low demand. I don’t think home prices are going down and if they do go down it will be for a short period. Will be negligible when we look back.

[@Comm0ut]

Wise people know markets are LOCAL not national and what someone else is doing is not relevant to an individual who plans coldly, methodically and wisely. Many people are doing well and I'm one of them despite being far from rich, but you really have to devote yourself to yourself which takes more work than most want to put in. Choose everything wisely and plan for the long term. Stability and low overhead are key. So is avoiding high COL areas because every dollar wasted on overhead is one less towards your future.

[@BullsEye3333]

Yes, they create way too much money and where do you think all that funny money went? High housing prices are the new normal. Why do so many people constantly call for a crash? These high prices should be expected.

[@livingintheforest3963]

Home prices where I used to live are insane which was San Diego my realtor keeps trying to say oh yeah this is normal it’s not. And there’s a bidding war every time people want to buy a house so they started about 800,000 or 900,000 and try to work everything up into 1.1 million you have to be smart enough not to fall for that. Let these people sit with their stupid houses and don’t buy them!!!👎🏻👎🏻

[@JohnDaniels]

There is a long lag from the rate hikes, 6 to 18 months, is been about 6 months since they held the Feds Fund rate to 5.5.

[@arkology_city]

This dude just said "Starter homes are $1M+ with 8% interest rates" followed by "the economy is just vibes, bro. People don't spend if they aren't in the mood"

[@Mr-sweeny]

I’m a new dad, I moved to the Bay Area a few years ago and I’m thinking of purchasing a single family home, but with real estate prices currently through the roof, is it still a good idea to buy a home or should I invest in stocks for now and just wait for a housing market correction? I heard Nvidia and AMD are strong buys.

[@sattler96]

it’s a personal decision, but according to Forbes, housing activities will remain stagnant for the most part of the year, so maybe hold off a little.

[@Nernst96]

well you could put a downpayment on a home and as well diversify as much as you can into Ai and pharm. stocks like Pfizer and JnJ.