What My 10,000 Tenants Tell Us About The Economy

Ken McErloy dives deep into the economic landscape of 2024, drawing comparisons to the 2008 financial crisis through an analysis of over 10,000 tenants across the United States. He discusses the realities of inflation, unemployment, and the housing market, revealing the pressures on the average American's financial stability and lifestyle adaptations in the face of economic headwinds.
Ken has a real estate strategies podcast! Follow your favorite platform each week.
Apple Podcasts: apple.co/3jDqftx
Spotify: spoti.fi/31GUDwW
Follow Ken on Twitter at: / kenmcelroy
• • •
Be sure to click the bell to be notified as soon as the next informational video is posted!
Visit Ken's Bookstore: kenmcelroy.com/books/
•
ABOUT KEN:
Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC’s of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
Ken's company: mccompanies.com/
•
DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind.
Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.’
Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel.
Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites.
All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate. Comments which are off-topic, offensive or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.
2023 KenMcElroy.com, LLC. All Rights Reserved.
#kenmcelroy #realestate #realestateinvesting #economy #2024 #FinancialCrisis2008 #inflation #unemployment #housingMarket #rentalPrices #tenants #laborForceParticipation #rentInflation #propertyManagement #evictionRates #incomeVerification #financialStability #paycheckToPaycheck #savings #debtFinancing #rentAssistance #tenantRescueFund #applicationProcess #fraudPrevention #economicImpact #lifestyleChanges #economicComparisons #financialPressures #economicAnalysis #rentalCrisis #AmericanWorkforce #economicHardship

[@KenMcElroy]

If you appreciate the effort we're putting into these videos and want to support the channel, share this with someone you think would benefit! It would really mean a lot. thanks

[@wattasay2370]

Thanks for great content! Just curious does that mean that Rent default rate at 10-15% ?

[@dtsai]

It's wrong that you need more unemployment if we all have inflation. In fact, inflation is it's own tax that taxes away money supply from everyone. The most important issue is the communists want supply scarcity for authoritian control when they should be lowering rates to increase supply.

[@sparklemotion86]

It has begun? Unchecked corporate greed began quite some time ago.

[@Chicago48]

Unemployment rates vary from region to region and state to state. It can be 4% in a southern state and 8% in a northern state.

[@user-vd5lt9wv9t]

Jerome Powell is correct a tight labor market often causes persistent inflation bc unemployment is very low, basically explained as follows: existing employers have to increase their wages to stay competitive because there’s not many workers available to fill these jobs because unemployment is low…

[@LtColDaddy71]

I don’t raise my rents just because I can, unless my expenses go up. That probably makes me a bad business person, but it’s paid me back in spades. I have a guy who rented from me for 20 years. A little farm house. He has had flooring replaced, did a full kitchen and bath remodel. He started out at $350, and went up a few times, ended up at $400. Finally, one day, my wife and I felt compelled to stop by and hand him the deed , as long as we can rent the out buildings and grain bins for $1 per year. That house would have been just another abandoned farm house.

[@mechannel7046]

Wow, you are such a nice and generous person

[@jesusisking8502]

God bless these people.

[@RoySATX]

I can't tell you how many homes I see that have been left to the elements. I spend a good deal of money keeping up my rental trying to be the best tenant I can be and it shows, my landlord cares not. I don't expect the deed, but it would be nice if he would respond to maintenance requests before they cause more issues.

[@Francisco-Danconia]

That is incredibly kind of you. I love reading this

[@kfbob364]

Property taxes are rising, building materials, and labor are rising.

[@bmxracer2701]

I personally think it's tragic what's happening to ppl. Taxed to death, stressed and working multiple jobs, their lives passing them by to try and live in a damned apartment.

[@bitemoi]

@bmxracer2701 The greed of those involved in real estate now is disgusting. This is life and death, and for them, it's numbers.

[@EveIsJustMyBlogName]

Speaking of taxed to death…my husband made $102,000 last year. We have 3 kids at home and I’m a SAHM. Our government took $26,000 from 2023 year paychecks and we got a whole $803 back on our tax refund this year. It’s absolute bullsh*t! After taxes, health insurance, and his 401k contributions, we’re living on a fraction of his gross income.

[@EveIsJustMyBlogName]

And don’t get me started on property taxes, sales tax, gas prices, ever increasing cost of utilities… It’s impossible to get ahead anymore.

[@jenniferliggett6385]

I am single and middle-aged, and I don't remember the last time I had a life, outside of working multiple jobs to survive. I have a degree that is not very marketable, and I have mostly worked outside of my original field. Now, I am aging in a society where healthcare is declning and the social fabric is eroding. I don't feel there is much hope, only survival until I eventually am too sick to work anymore, and end up on the street, because I don't see myself ever being able to own a home. Most of the single men my age are that way because they are either abusive or on drugs - and those that have their lives together are seeking someone half their age as a breeder, or a trophy. Then, there is the unstable economy and age discrimination in employment that I have to worry about as well. But, if I complain, I am told by friends to shut up, that I could have it worse, so there is no support and I have stopped talking about my life to anyone that I know. I guess KZbin is therapeutic, because the comments here seem to reflect the reality so many around me seem to want to look away from.

[@bitemoi]

@@jenniferliggett6385 These despicable people care nothing about anything but a buck.

[@briand4000]

I have just a small duplex. Have the same tenants in both for many years. We raised the rent once since they moved in, and only $100/month, in January. It is still well below market value BUT they stay, they pay, and we have no issues with them. Keeping it affordable in exchange for stability is worth it for me and I think for them as well.

[@guentherwilke2055]

Good long-term tenants are worth way more than ones that abuse your property and miss payments at higher rent.

[@LearnwithLoriJill]

But why raise it at all? Did your mortgage go up? If it's paid off then the value certainly went up. So you just raised it bc everyone else is going up. I rent where my utilities are included so I understand a slight increase.

[@guentherwilke2055]

@@LearnwithLoriJill Taxes go up. Cost of major upkeep (Roof, windows, HVAC) goes up. Insurance goes up.

[@briand4000]

Property taxes, insurance and cost to maintain, ALL going up, non-stop, every, single, year. Nobody owns rental property to slide backwards financially.@@LearnwithLoriJill

[@macro-perspective]

@@LearnwithLoriJill I have five single family homes that I rent well below market to long time tenants. I'm talking about 60% of what I could get. Unfortunately, my real estate taxes increased over 20% this year. They increase every year but this year was brutal. Insurance also increased 10%. I've never passed these costs on to my tenants, but I will need to now since I have left my day job. I have friends that really push the limits on their rents and they get it! In fact, they have people on wait lists for what I consider insane rents. I'm glad I own my house outright... I could never afford to rent in this market.

[@christschool]

I work at a bank. I've worked as a commercial banker for 35 years. In the last 2 years, multifamily owners have increased rents 40% in our market. This is not sustainable. My bank is no longer financing new construction because we feel there is a rent bubble.

[@RicardoMartinez-oh9sq]

Rent bubble, thank you for your insider's information.

[@LifeAsDane]

What's your market. Cause if you're in FL you are well aware of property tax increases the past 2 years and absorbant insurance costs of sometimes 100% increases.

[@thebikeracer]

@@LifeAsDaneTHIS!!!

[@JimmyGelhaar]

Good insight. “This is not sustainable” is true on more fronts than just rents, however. It’s clear the damn is getting close to bursting.

[@yurimodin7333]

2 years of no rent and no evictions has consequences. Owners are getting what they can before govt steals their property again.

[@jgg204]

The bottom 2/3 of the economy is running on vapors, only bridge left standing is the fact that people are still able to finance what they are buying. Once that dries up, it's armageddon. While people may be able to work 2, maybe 3 jobs, to keep up with prices. They can't work 4, 5, or 6 jobs if this continues on. There is a breaking point and we are almost there. Forget not being able to afford a home, people can't even afford to rent. As Ken's property manager stated, people are consolidating....2 bedroom apartments now have 2 sometimes even 3 people or even 4 (1 or 2 couples both living there). People are turning the non-bedroom "den" into a bedroom. People renting houses are bringing older generations in to help pay expenses and "free" daycare. This will accelerate as wages continue to stagnate and prices continue inflating. And again, as long as this can continue to be financed, wall street is loving it b/c increased profits and earnings. I don't know where this is headed, but history shows it doesn't end well

[@paulbrungardt9823]

Bingo !--I completely agree--I saw this 10 years ago. I bought 3 bedroom condos near an air-force base. I am happy to get less profit from rents in exchange for keeping them occupied.

[@matthewbarber4505]

I agree, I think the system is self-organizing itself towards collapse, but because of the underlying incentives no one can actually stop it. The only thing worse than a collapse tomorrow is a collapse today, a tyranny of small decisions

[@user-xj4bt3pv3j]

You are so right on, there can be many people making a dramatic shift to the left, there will be plenty of vengeance all the way round, and Im Conservative. Looks like 1917 Russia.

[@jgg204]

@@paulbrungardt9823 yep vacancy is the biggest profit killer for landlords. they key to the game is to always have the units occupied, even if it means slightly lower rents or concessions. if a landlord has an empty duplex apartment and keeps shooting for the moon in rent and goes 2 months of vacancy, that's thousands of dollars. instead he could have just priced it $100 lower and the breakeven may be 3 yrs of occupancy. and by then, there would have been a couple 1-2% increases anyways for an occupied tenant, making the lost opportunity even worse

[@martinross6416]

The employment distribution is so skewed that once unemployment hits it will hit very hard

[@johnwalker6049]

The only reason why people are not unemployed is because of the gig economy. Uber, Lyft, Doordash etc... slave labor without health ins or retirement plan or employee rights.

[@jgg204]

THis right here. It allows anyone with a smartphone, a bike or a vehicle, to make money. Without that, there would be wait lists to get jobs at Walmart. And restaurants would have a pool of labor to choose from again.

[@kristinmeyer489]

There were no employee rights, anyway. The main loss is anything your employer was still paying for, which increasingly has been no benefits, anyway. Some businesses adopt this philosophy to try to stay viable, but others, just because they can.

[@KK-pm7ud]

It's not slave labor. Stop calling it that.

[@joeashbubemma]

Geez the Socialist mindset right here. Go INDEPENDENT if you think it's "slave labor" FFS. Start your own biz, pay YOUR employees with all the benefits then let the REAL CRYING begin.

[@Commentthat]

Yeah

[@johndeanconway7931]

I have 8 months saved up for bills and an emergency fund set aside for repairs. I did just buy a house and was able to get it for 8%. It was on the higher end of my budget but I have a few extra hundred to put away each month for repairs. The home is turnkey but I know expenses will come down the road which I'll be prepared for. Hypothetically speaking, given the worst case scenario and layoffs start happening; can my emergency fund be in good use to invest and linked to our mortgage to increase interest overtime? rather than defaulting on mortgage Is that a feasible way to pivot?

[@mikeyh0]

My parents paid off the principle faster by doubling up every so often and that reduced their total interest payments plus increased their equity (finally using that word properly). The first few years of mortgage payments are mostly interest so doubling up on the principle isn't as hard as it seems. They did very well overall.

[@seanroger6954]

An even better idea is to have 30k plus saved already to pay the mortgage down with it, and then pay an extra 10k per month into a high-interest investing account. Once your high interest account reach $20k plus, pay it on the mortgage again! By doing it this way, you won't go into more debt and you'll have the interest account as an emergency fund!

[@rahultoggi4672]

I like the reward tip! My wife and I are working on paying off our mortgage fast, and I think that will help motivate us.

[@j3ffn4v4rr0]

I work as a groundskeeper/maintenance for a 420-unit suburban apartment complex...I was told the other day, that 50 people this month have "pay or quit" notices. So, unless they move out voluntarily (or pay, which is unlikely) they will be evicted...and of course, they let me know this because I'll be one of the guys to clear out apartments. We'll probably have to temp hire another 10 people for a couple weeks! Incidentally, I live in a small apartment building...different landlord from the complex where I work...and I was 2 months behind on rent, and about to be evicted. My landlord thankfully hooked me up with this maintenance job so I could get caught up, or I'd be on the street right now. It's like there's an economic plague happening right now.

[@RicardoMartinez-oh9sq]

Evicted, and that information will stay in the system for a long time, they will not be able to rent anything.

[@johnl9977]

It is the greed of the obscenely wealthy that is driving rents up. I was in my apt. for ten years, and the owner/landlord raised the rent twice. He sold the unit to one of the rip-off REIT's, and they have raised the rent the maximum allowed by or state (10%) the last four years. Across the street, it was a little different. It was purchased by a rip-off REIT, they evicted everyone, replaced the counter tops, and raised the rents 60% in one fell swoop. The wealthy pay only one eighth the taxes that a working family does if percentage of income is used. They have way too much money left over to buy everything and rob The People even more. Since they are able to deduct all costs of the property, and even depreciate it every year, they end up paying next to nothing for the units either. A person who buys a home can do none of that except for the interest deduction. Republicans did that for their donors.

[@RobertLavelock]

Finally someone who actually talks their own business metrics whether it's good or bad. Thank you!

[@robertruschak7083]

Yes The only way to get ahead is to become a millionaire!!

[@petermangano6206]

Ken is legit, the real deal...

[@roddywoods8130]

Many investors and economists are concerned about the global economy due to rising debt, political instability, and the effect of COVID-19 pandemic. Experts warn that these factors could lead to an economic downturn or recession.

[@selenajack2036]

I'll suggest you find a mentor or someone with experience guide you especially in this recession. especially for your 401K, IRA and portfolio diversification.

[@hushbash2989]

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

[@bsetdays6784]

I just started few months back, my grandson helps me but I'm going for long term, I'm still trying to figure it out honestly.. Which advisor do you work with?

[@hushbash2989]

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

[@kaylawood9053]

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

[@JaneDoe-bw8mn]

I worked in property management many years ago and my guess is that they raised the rent too high. When I worked for a couple who owned their apartment buildings, they would never raise their existing residents' rents above what they could get for that same apartment if it was vacant and rented to a new resident. However, when I worked for a corporate property management company, they would raise the rent on the existing residents above what they could rent it for if it was vacant. They called these prices "market rents", but the brochures advertising our rental unit prices for future residents had rates less than those amounts. Our residents were not happy when they saw the price difference and many moved out.

[@user-zf3xb3qx8w]

it's the same when you find out the company you're working for is paying the "new" idiot as much, or MORE than you, because he was just agressive in his interview. Then you're expected to mentor/train a guy that doesn't WANT to learn, but want so to play social games and be passive/ag. towards you. you leave.

[@C.Dragon50]

To all those owners ..either work with your tenants or the “government “ will come in an help … the death of us all

[@alexjones7845]

That's really predatory. At renewal time I just check nearby vacant rentals. Even still, if they are decent tenants then I often only raise rent $10 to $20/month for the annual renewal to offset increases to ins and prop taxes.

[@RicardoMartinez-oh9sq]

They are greedy, but here I am reading about a "rental bubble."

[@MrBoxofplastic]

My apartment is renting for $50 less than what I renewed at last August. I got suckered in because I didn't want to move out. Corporate greed is killing america, and I'm not a left-learning "victim mentality" kind of person.

[@naregm5492]

the answer is very simple. your real estate assets are far too inflated and the debt you have to pay on them is even more inflated. and since you pass all or most of those inflation metrics to your tenants, delinquencies went up to 17%. but you don't really care, housing for you is a business and costs will be absorbed by the consumer almost every time.

[@AlxMans]

Thank you.

[@WaltWW]

Nailed it. The landlords will just declare bankruptcy if they get upside down in properties and start over in a few years. Rinse and repeat.

[@TriphexCorporation]

Basically yes :/

[@1986subway]

LOL the tenants get the benefit of using the property. They aren't paying the kindness out of the heart

[@calvinhobbes6118]

Supply and Demand. You cannot allow tens of millions of illegal immigrants to flood the country every 5 years. (7.2 million in the last 3 years alone) They have to live somewhere and they cannot afford to buy. It doesnt help inflation has skyrocketed and the dollar is only worth .85 cents compared to 4 years ago.

[@petermangano6206]

Short Term loans to cover rents or groceries is awful, products that should not exist.

[@grantog123]

Agreed

[@pinkiesue849]

Should Not be needed

[@tharais]

@@pinkiesue849 Free to choose. But ignorance is bliss.

[@petermangano6206]

@@pinkiesue849 not only should it not be needed, there should be no demand for such products

[@dewey5353]

Just keep raising the debt ceiling !

[@JamesAllen-xk8bc]

The people who can't afford to buy a home are not flooding into the rental market. They are, by definition, already in the rental market.

[@lexishannon3952]

flooding into the tent market

[@IKARIANOFFICIAL]

@@lexishannon3952 - I swear, tents are looking nicer all the time. Buying a new large tent once or twice per year and it's still only a fraction of one months rent! The biggest problem is not being able to lock it up or secure your belongings.

[@sues3218]

A lot of people are moving back in with their families, with multigenerational living. That is less people in the rental and housing market. You can only squeeze the lemon so much before it runs out of juice.

[@Cj032188]

​@@IKARIANOFFICIALhahah just said this to my fiance. We are house shopping, and we can buy a house and legitimately be house poor, or live in a tent and be able to afford a child.

[@IKARIANOFFICIAL]

@@Cj032188 Buying a home is outrageous these days with the high prices and high interest rates, but depending on your area might be better than renting. Plus, when owning your own home you will need to budget between 200-400 per month for eventual home repairs, new roof etc.... But yes, better to pay for something you can own one day rather than giving it all to a landlord!

[@tho464]

Renting a home in my neighborhood costs 150% more than what my principal and interest was when I bought 25 years ago. Millions of homes lost in 2008 were scooped up by Wall Street real estate portfolios drying up inventory for those trying to get back into a house after the rebuilt their life following the collapse. Corporate house buying is a crime!

[@RicardoMartinez-oh9sq]

President Biden wants to justify financing war in Ukraine in the name of liberal democracy, why? Aren't we instead ruled by oligarchs who can buy our politicians?

[@WilliamBTCWallace]

Except add another 30-40% of that cost a a homeowner for taxes, insurance, and repair costs. People don’t factor these in when comparing renting to buying.

[@newvideoplaylist]

So nice to see how considerate of real life issues Ken is. Often, once landlords elevate to this level of ownership, they become completely disconnected assholes. This is refreshing.

[@treesnmoguls]

Thank you SO MUCH for sharing that information! Very helpful in assessing what's likely to happen next...

[@chris5942]

Vultures in every tree that a consumer walks by.

[@user-jd2vz4my1w]

LOL Best line of the week.

[@gregleavitt1255]

Nothing new under the sun.

[@vanlifementor]

These guys a blight on the country. Make homes for living not your investment portfolio.

[@TriphexCorporation]

They're discovering new aspects of reality to monetize by the moment.

[@chris5942]

@@TriphexCorporation CA is king. They are going to tax rain drops, I hear. If you are a business with a lot of rain runoff the tax will be ruinous.

[@devansharpit]

This video is a gold mine. You shared a lot of insider information that never reaches the public. I would appreciate including charts in future videos a lot! That would improve the quality of your video to another level.

[@PositiveMommaLife]

Agreed!!!

[@tmer831]

The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.

[@SteveDutton-v]

Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.

[@mikey43221]

I worry so much about my investment . I'm 50 and retiring early. Already worried of the future and where it’s headed, especially in terms of finances 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?

[@tmer831]

Your worries are valid; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.

[@mikey43221]

I agree, I've been considering the possibility of speaking with consultants since one of my folks mentioned it to me. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.

[@SteveDutton-v]

The advisor that guides me is Vivian Carol Gioia, most likely the internet is where to find her basic info, just search her name. She's established.

[@davidbreault8388]

This video gives a more clear picture of the US economy than almost anything I have have seen. And I've been paying attention.

[@joelvillanueva1392]

Very informative and objective approach! well presented!

[@keithcunningham1615]

Ken, we appreciate your humility while being so transparent and honest. Very rare these days................ Thanks!

[@lynnwood7205]

This presentation contains valuable perspectives which today are mostly not reported. Thank you.

[@raymondkidwell7135]

During Covid rents shot up 40% in a two year period. Landlord’s mortgages didn’t change. Maybe 1% of them that just built a property had high mortgage. Most just took advantage of the situation. Now their tenants are working a full time job living homeless and the landlords can’t figure out why their $500 a month mortgage isn’t getting a renter at $2,000 a month. Rent is $2,000 on paper. That’s why we have these crazy price swings up and down people getting evicted etc too many people are focused on what the property is worth on paper and not common sense. Here in Florida the greedy landlords raised rent 40% so investors built a bunch of apartments due to an apparent shortage. There’s about to be a lot of empty apartments or else a big price correction. The landlords are doing this to themselves. Rent shouldn’t go up more than one percent above inflation two in extreme circumstances. Raise the rent when they move out. Nobody’s income went up by 40% this is common sense.

[@user-pq9vr1uh4g]

It seems landlords would rather evict everyone and lower prices after they have record vacancies. Seems it would be better for everyone to just lower the rent.

[@arachosia]

Yeah, I won't shed a single tear for any of these predatory landlords

[@Nick_bartlett]

It’s all supply and demand and the market, or what people are willing to pay, determines the rent. A couple years ago people could afford and would pay $2000/mo and this year it’s ~$1900. It’s not greedy landlords; it’s what people are willing to pay just like every other good or service.

[@forgotten320]

With the current influx of people coming across the borders it is unlikely to see rents reverse, especially with government paying for that housing. Also, with materials and labor cost going up, new apartments mortgages is what will be the cause of rental increases, not so much the greed of the landlord with a home that has been owned for decades and has a $500 mortgage. Another additional influence in the market is the large investment companies like Black Rock that push increases to show profits for market investors

[@Nick_bartlett]

@@forgotten320 Good point - a house that rents for $2,000 today and has a $500 mortgage, assuming a standard 25% down payment, would have been purchased decades ago like in the 80's. If I purchase a new home today in Minnesota and put 25% down at today's rates and then rent it out, the cashflow on a $2,000 rent would be around $0; at best maybe +$100/mo. Landlords spend time managing it for zero dollars of cashflow. Expenses are much higher than a few years ago (taxes, insurance, utilities, and handymen want $65-95/hr now). There is a lot less investment in the last year because it doesn't make as much sense to buy and rent property, so as a result less rentals are available to those that need it. Everybody wants rents to decrease, but property owners /. landlords can't afford less rent. What's really needed is higher wages to pay for the higher prices of everything.

[@scottstankis69]

The ball isn't even rolling yet...

[@theexecutor2647]

Indeed. I try to tell people all the time, but it's like being Noah back in those times. You see that tsunami coming clear as day, but all those other people can't even imagine the tsunami existing, nonetheless it ACTUALLY happening. Dangerous times are upon us and we must prepare or we'll be wiped out.

[@Michael-qy1jz]

Florida is building off a cliff. I do NOT buy his premise of a Housing shortage !! They will deliver more multi family this year than ever in history. Once these domino's start falling, it's going to be epic!

[@plumeater1]

@@theexecutor2647 People are deluded because of the current stock all time highs party. And party eventually ends.

[@jamesrecknor6752]

Yes, but we are Building Back Better with Senator Biden, so everything will be fine.

[@darnmi5953]

Of course the ball is rolling otherwise we would not be talking about this. Writing is written all over the wall. Just takes time. Ask anyone who went thru 2008 how they felt about real estate and the stock market in 2007. Almost all would say it can’t go down.

[@MrFrank45]

Thank you for this! A perspective I was unaware of. Thank you again for your time and energy!

[@pauldenning8356]

I worked for Ken in the 90s when the Luxury new construction apartment business was just getting fired up. This guy is the best in the real estate industry both as a person and a leader. I love this honest, good information about our local market here in AZ. Thanks Ken!

[@jerrysouthwick]

I have to agree, he's is very honest and tells you a lot of things that most successful people won't tell you

[@user-zf3xb3qx8w]

Like my experience in high-rise concrete, you get a guy like this to work with for a few years, and the next site you get Drunk Bob and wonder WTF you DOING there!!

[@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

[@macro-perspective]

The FED answers to no-one! Well... not since Epstein was taken out. lol

[@RicardoMartinez-oh9sq]

Amazing quote.

[@sarashann]

I'm the type to use a tea bag twice and cook rice and beans at home versus eating out. Home is small, maintained and paid for. Not worried here. Folks need to buckle down. Carrying debt is a killer.

[@econ0003]

I agree debt is a killer and a path to financial ruin. Now people are financing their rent with "Flex"?!?!

[@tradermunky1998]

​@@geocam2lol, being able to bet big comes from savings and free cash flow.

[@pouyaz8472]

Not everyone wants to be wealthy. Some just want stability and safety for now and retirement. which is possible for most (skilled/educated workers) if they watch their spending @@geocam2

[@fabulousglasswarden]

Both houses & cars have become too expensive for most Americans these days, most especially for single people and/or single-income households. Even a lot of 2 income households can't afford them.

[@annehaverhals1750]

@@econ0003 I'm sure the interest rate is equivalent to a credit card.

[@fredm1]

Completely agree with them. The current state of the economy is unduly difficult for most people. With inflation catching up to my $210k portfolio, everything just feels so tough to do. I'm so concerned about life after retirement.

[@MarvishaN]

I completely understand your concerns, but you should first have a conversation with a the law, like a hedge fund manager or financial manager. For my part, I prefer the latter to the Yt opinions.

[@georgeh.5126]

This is why having a solid plan and guidance is essential. My $160k portfolio, which just had a 100% increase from early in the year, is well-matched for every market season. My advsor and I are working toward a more concrete target for this year.

[@debwes1]

@georgeh Could you be kind enough with details of your advsor please?

[@georgeh.5126]

She goes by 'Heather Lee Larioni'. I choose to delegate my excesses to her because of her great expertise. I suggest you look her up. To be honest, almost didn't buy the idea of letting someone handle growing my finances, but so glad I did!!!

[@debwes1]

I appreciate this share. I set up a call with her and I am keen on getting to talk to her particularly.

[@scottpoll1401]

Glad to see someone talking about the darker side of what’s happening not just the good side!

[@jgg204]

Now you can buy now pay later for takeout. It's insane

[@Have.An.AmicoDay]

I heard a similar thing rolling out at Walmart for groceries.... sort of like a line of credit.

[@zacklewis342]

That's been available for decades; It's called a credit card.

[@jgg204]

@@zacklewis342 this has nothing to do with credit cards, b/c you need to qualify for a credit card in order to get one. almost all of buy now pay later services don't pull credit history nor do they even report to credit bureaus. this is why they are exponentially growing in popularity.

[@Mr.Helper.]

@@zacklewis342😂😂😂 that’s what I was thinking

[@jghifiversveiws8729]

Guys klarna is nothing new

[@istvanpraha]

Agreed about 2009 and inflation. Some people dramatize how bad it was. Well maybe if you lost your house . But I was lower middle class in 2008 and it wasn't that bad. I was job hopping low paying jobs, cheap apartment in a trailer trash type area but it was safe and quiet. I could eat out and go to the bars still and do day trips to fill up the time. But now I make six figures and that "starter apartment" is even overpriced and I don't eat out now, making 3X what I made in 2008.

[@RealLifeFinance]

Same I make 2x what I made in 2008 and it feels like I've been in a deep recession since 2021

[@istvanpraha]

many causes but one I noticed is that since our inflation rate has consistently been understated vs. most peoples' actual expenses, and since they use that to decide how much to adjust the tax brackets by, I notice plain old payroll taxes have become a bigger and bigger burden every year despite no official tax increase. I'm not at a point where I am taxed like I am rich but live like a complete regular boring middle class person, no frills @@RealLifeFinance

[@IKARIANOFFICIAL]

@istvanpraha - If you're earning 6 figures per year you can easily make things work with rent and going out to eat. Unless you're trying to pay for a super luxury apartment or home in LA, NY, or San Fran. I was(barely) making it work paying $1,800 per month rent while my take home income was $2,200 per month. Yes, I had $400 each month left over for food, utilities, fuel, insurance, cell phone, internet. It was not fun at all. But if I had an extra $400 per month it would have been much easier by far. So if you have anywhere between $1500 to $2000 per month left over after your rent is paid, and you're still struggling, then you need to cut out some kind of luxury expense.

[@istvanpraha]

I...what are you talking about, first off, I shop at a discount grocery store already and food is $800 if I mix loads of rice and beans meals in, no way to do $400 nowadays unless you're doing chef boyardee from Walmart. Can't cut eating out since I don't eat out. Car is 15 years old and I only use it on weeekend. Rent about the same, which is 40% takehome because taxes are high here. Dude you gotta update your prices to 2024 levels, I can't shop in 2005 @@IKARIANOFFICIAL

[@sues3218]

Yep, it is much worse this time around.

[@williamlackey123]

Excellent video. Thank you for sharing your data!

[@carolflower9672]

Thanks for the RENTAL MARKET UPDATE ... HELPFUL INFO

[@douglaskbrown1154]

Appreciate your presentations. Thank you.

[@jonscrivner9087]

The main problem is corporate and human greed.

[@svenoliver6040]

KEN IS AMAZING. “HOW TO CREATE INCOME FLOW DURING ECONOMIC CRASH”

[@svenoliver6040]

The first step to creating lncome fIow is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.

[@svenoliver6040]

I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.

[@svenoliver6040]

researvh the name, if you care.

[@svenoliver6040]

REBECCA MARTIN WATSON

[@yung1448]

deserve aII attention, good to be here.

[@davep2945]

Here's the problem I have with rental companies. We are told rents fluctuate with the economy. If a market is hot and demand is high then rents increase. However, supposedly, when demand is met or exceeded rent should stabilize or even decrease but it never does. Rents always go up for those who already live at the property. Last year I had a water infiltration that fortunately didn't cause damage to my personal property but the complex made no real effort to correct the issue other than having a carpet drying and cleaning company come in a remediate the issue. Four times to be exact. Then I had my storage utility room flood because of a construction flaw from 25 years ago that the complex doesn't want to address. It was only because of these issues that I was able to keep my rent level for another year. Stained base boards don't bother me and there is no mold growth so I don't really care. But several months have gone by since my renewal and nothing has been done to address either issue so I imagine when spring brings torrential downpours I'll have another small flood that they will have to pay to remediate and I will have basis to keep rent the same again next year because I don't believe the housing market is going to crash for me to find it affordable until I see it happening.

[@daveandersen2484]

I love this guy ❤. I am a 65 year old real estate investor. I bought my first rental in 1988, and just kept buying more and more. I started and built a successful business in 1982. And I would funnel my profits into a rated rental homes in Phoenix. Ken is totally transparent and honest. He started at the bottom as a property manager, just like the girl he is interviewing in the video. Probably the most important job in real estate investing. Don’t get caught up by the KZbin fix and flip goof balls!!! Fix and flip a house you’re living in, but not anything else!! Thanks Ken for being honest! I sold everything and am waiting for a correction I think will happen. And I will buy in a different place than phoenix. A place where I can get close to the rule of 1 percent again!! Peace ✌️

[@pearlperlitavenegas2023]

You will regret it. There will be No Crash No Correction. 😂 🤣

[@daveandersen2484]

@@pearlperlitavenegas2023 didn’t you see the video pearl? Evictions are at 15-18 percent. When normally is 3-4 percent!! People are going in on a 2 bedroom apartment who would normally get thier own apartment. Tenants are getting a second job delivering food and Uber etc. I saw this with my medium sized portfolio the years of 2015-2020-23 before I sold . Tenants are forging w 2 forms to try to get a roof over their heads they hope they can afford. I did because prices were high. And I didn’t like the 40 percent increase in rents I was having to charge. In 2018 rent was $1800 now it’s $2800 same house. Go to where you can come close to the rule of 1 percent

[@daveandersen2484]

@@sam123sder if a property is $150 k… you get $1500 in rent… it’s almost impossible now.. but there are cities you can come closer

[@pearlperlitavenegas2023]

@@sam123sder if it had happened I think this channel would have covered it 🤣 Where's Kens Crash video?

[@RealLifeFinance]

I sadly unloaded my houses in 2019 and 2020. I couldn't believe people were will to buy with a 5% cap rate. The rule of 1% is how I made my money too. Today that sounds ludicrous.

[@aarong5592]

Excellent boots-on-the-ground info!

[@AnaViolinViola]

A lovely and knowledgeable guest, I’m from the opposite end of the world but your conversation seemed very relatable and engaging

[@josecarlosllerena7201]

I am a property manager in Downtown Míami and we are having the same situation. I confirm what you said. 🙌

[@michaelpetersson8732]

Thanks alot for sharing your information Ken. Very interesting ❤

[@CrashBr0]

In December 2007, the unemployment rate in the United States was 5%. Took off in 2008 after the GFC got rolling. So don't think it can't change quickly.

[@nosac1230]

Yep, and depending on who you talked to, 5% was considered pretty much full employment.

[@AnnoDomini97]

Can happen in the blink of an eye. People have short memories.

[@MaxPower-11]

The main point with changes in unemployment is that the rate tends to go up sharply but goes down very slowly over time.

[@superkart1913]

KEN LIVES IN LA LA LAND, A FAKE PLACE WHERE REALITY DOES NOT EXIST.

[@RealLifeFinance]

Yup Exactly

[@ants4borax]

Excellent example of responsible management. Thank you for setting a great example.

[@JorgeOrpinel]

Landlords are like drug dealers: they know the suffering of some of their customers, "feel bad" for them, and continue to juice every single cent they can out of them.

[@BittermanAndy]

Right? Per title: "What my 10,000 tenants tell me about the economy", here's one thing, by buying 10,000 houses he doesn't need he stops others buying them and puts prices up out of their reach. Bet he feels bad about doing it though. Poor him.

[@atarilegend1907]

Rents have doubled in 5 years. Why now are they taking away the option to pay for cable, by making it mandatory? Old apartments have competitive rates to the new ones. They even closed the dollar theater.

[@recongraves]

Because when The chopping block comes down they're the first to go and so they're trying to soften the perception of their neighbors that they have on their community

[@gregs8685]

What is your vacancy rate? Are these apartments that become empty being re-rented?

[@jacobtt34]

thank you ken great video as always

[@VsevolodSoloviov]

Thank you for mentioning the fraud increases. This has become a real problem now with serial fraudsters coasting from one landlord to another. Most of the time they defraud small mom and pop landlords that in some cases even end up losing their homes to these criminals who in some states have too many protections for delaying evictions and always start off by claiming life event tragedies as soon as they move in to delay the eviction filing process. Be very diligent in tenant prequalification! FYI - I'm speaking from experience here...

[@lrr5425]

This was very informative, thanks for sharing!

[@GabrielBacon]

It blows my mind that this guy can run his real estate business, this channel, plus run for President all at once

[@twotex4235]

Adderall

[@drx1xym154]

@@geocam2 -- Mr T will do well ... though the administrative State will try to stop him.

[@pyorba]

What credit/background check third-party do you use Kenny? Thanks! Love the show!

[@shawnbruce6934]

Thanks for this video. Great Stuff!

[@lexusls4305]

Wow, this is real on-the-ground data. Great work!

[@speakingofdrB]

Thank you for the video, love your channel.

[@Tesfas]

3% to 17% eviction rate I appreciate the data centered reporting, would be great to share definition of some of the metrics and how to sources measured them (e.g. unemployment and labor participation rate). Thank you

[@jonwalter6317]

Be aware that it is 17% of the people that leave, not of his overall tenant base. Actually if his turnover has gone down, then an increase to 17% may not represent as big of an increase to which he alludes. He needs to give us the actual numbers, I'm suspicious he's making it sound worse than it is, though it is definitely bad.

[@leeroach3381]

Very helpful Thank you for sharing

[@sed6]

If the rest of your content is this good and pertinent to my concerns I'm going to sub!

[@mikev4373]

In my area Sonoma County California thousands of rental units have been built over the last few years and more are coming on line every month. Pressure on rents are coming.

[@billger5710]

That would be great if new housing is actually affordable.... new apartments in So Cal are pricey... there needs to be alternatives like dorm style housing

[@blakeaaron5698]

Summary 1) Lower to lower middle-class individuals are feeling progressively pinched by higher rates and inflation 2) More people becoming or taking in roommates to save on monthly housing expenses (more individuals per unit) 3) More tenants skipping out on rent or being evicted 4) More people taking jobs in gig economy to bolster income 5) More people utilizing debt via buy now pay later programs 6) More fraud on rental applications to fabricate income requirements, resulting in higher decline rate for rentals

[@marccoady6923]

Good job Nick .. I definitely like your analysis of what the team is doing early in the offseason.

[@roberttaylor142]

I am a new subscriber. Thank you for sharing your videos. Much appreciated.

[@Jessicascleaningtips]

My daughter might not be able to finish her last year at UC Santa Cruz because the rents are so high. It is just disgusting to see college kids living in their cars 😭

[@RicardoMartinez-oh9sq]

It is really sad. She might consider transferring into the local university where I live, Toledo, Ohio. Rent is cheaper here.

[@ChickenSoupMusic]

My sister never recovered from her “UC” education. Even as a valedictorian it warped her values/beliefs so much that she will never be successful or healthy.

[@BlueWaterSTAX]

Well done Kenny. Thanks

[@beachbum4625]

Excellent information re your observations. Best I've seen on status of the average guy.

[@fratomdev]

Very insightful and interesting. Thanks for sharing. You are right you don't see this info in the main stream media.

[@user-vd5lt9wv9t]

Love it!!! Thanks

[@JM-tm4dj]

Thanks for the insights Ken & team!!

[@JJHiller83]

Thank you for confirming what im seeing in my city and surrounding area that is not being reported.

[@melorbode]

Love this. I was doing hard money then and now. It's tough. It's so true what you are saying. Many people are still suffering from covid.

[@CraigKammanMN]

You are fortunate to have such a great team. She seems really sharp.

[@jaredman2393]

Looks exactly like him… must be his daughter

[@jonathanandreoni60]

Great info as always. The mics were picking each others voice possibly. Just constructive info. Keep up the great work.

[@dhowto3005]

This is some very good information. Thank you.

[@davidressler4292]

Thanks for putting this together.

[@RonOrr]

I respect the honesty

[@bitemoi]

@RonOrr 👍🏻 Agree, but over time have come to hate the overlords.

[@moimeme6533]

At a macro level we need to get a grip on the overall ethics and underlying with respect to housing in this nation. the traditional model has been abused and neglected to the point it's no longer sustainable and this data is manifesting the early warning signs IMO. Similar with healthcare although it has already begun to slowly evolve.

[@OldBillOverHill]

We were victims of a REIT called Impact, LLC. We owned our mobile home and only paid lot rent and water/sewer and trash when they bought the park. Our total space rent was $270/mo. The septic tank failed and they didn't repair it. It backed up into our house. Long story short, we had to moveout and sell at a loss while they still increased the rent and utilities. At the end we were paying $425/mo, including $15 for the nonfunctional septic. The apt we are living in costs us $2011/mo. We have found a new mobile home in a renovated park and the rent is $1735/mo. We won't skip but they will get the 60 days and nothing more. The complex we are in was built using public money in an economic redevelopment area. This month alone 5 apt in this building that I know of have moved out. Our son had to be included in the rental agreement to even get in the place. Thank God he was able to add his income to ours. I'm sorry, these property owners are greedy and just seeking profits at the expense of us all and taking our tax dollars to boot.

[@coganaj]

Those these property owners" could be in for a RUDE awakening when they find out that their ESJ score is ruined by their greed and extortion

[@zuser12345]

Wow. Great insight that we wouldn't see if you didn't share your personal business data. Thank you!

[@William.Mancini]

*The FED knows. They aren't committed to attacking inflation. They are going to continue to inflate, stocks and commodities will continue to go up with everything else. You can't just sit on cash waiting for a crash, get your money working for you, start buying in slowly and then gradually increase the pace of buying as the prices continue to drop.*

[@shana.ball3]

to be a successful in life required not only hard work but awareness and sometime opportunity at the moment, investment remains the best way to start.

[@edna.Chavis]

I agree with you. Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed return.

[@RosellaLCraig]

yeah investment is the key to sustaining your financial longevity but venturing into any legit investment or business without a proper guidance of an expert can lead to great loss too.

[@nicoled.conyers]

*Exactly and many of us don't know where to invest our money so we invest it on wrong place and to the wrong people*

[@SegunSpiff]

*Obviously talking about successful, I know I am blessed if not I wouldn't have met someone who is as spectacular as mrs ava Kimberly*

[@robertmonical9462]

Thanks. Fantastic confirmation of what I thought was going on.

[@RunW-TheBigDogs]

Thanks for the honesty.

[@sachin265]

The snowball gwta bigger slowly as the higher interest level eats into the savings of households. Cash is def king in this market.

[@57054]

I'm a landlord of one 1,900 sq foot single family home in a middle class neighborhood. I rent it directly to the tenant. My rental rate is reasonable and I have raised it over the past 7 years based on increased property taxes, labor for outsourced maintenance etc. It was $1,280 in 2017 and is $1,500 today in 2024. I outsource everything and can still make a reasonable return/profit. I don't understand why rents have gone up 60% in this period of time. I think the 3rd party property management and private equity banks are gouging tenants.

[@philosopherprince339]

What's your location? Many new investors have new homes.. at new prices and new property taxes. The property taxes is another tax that needs to be adjusted .

[@jimmyhendrix4495]

You don't understand lol😂what a lie

[@coganaj]

Just wait till those tenant-gouging "3rd party property management and private equity banks" see their ESJ scores, which would be abysmally low as a result of their behavior against those poor tenants. FYI: ESJ may mean "environmental-social-justice" kind of social credit score.

[@UncleSerenity]

I think you both did a really great job highlighting how much the economy has changed.

[@randallbargar348]

Finally a company that understands the dynamics of renters and the current markets.

[@fredstrehlow511]

My town has a building boom. Overbuilt is the term. New apartments and homes everywhere and no one to live in them.

[@huinyavaina]

and where would that be?

[@nolashiflett635]

Sad!

[@RealLifeFinance]

Where?

[@MillieM2018]

Where

[@stupedcraig]

You living in China?

[@Build2RentTX]

We manage a portfolio of 200 doors and 4 months ago increased our income criteria from 3 to 3.5 times income for new leases. We made that decision because of the inflation of other necessities for peoples budgets. We needed our tenants not to be rent house poor. 33% of income for rent was just too high for a budget of income and moved it to below 30%. The change effectively became 28.5%.

[@mamatossofficial3788]

Love the straight forward honesty. Something the mainstream media doesn't do.

[@keithspernak6456]

Awesome, a legit sample size, great analysis.

[@floydchusset3143]

With markets getting expensive , inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly-which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my portfolio or not

[@majidcoper]

Selling off should never be an option. Every single bear (U.S.) market eventually recovered and hit new ATHs, and every stock investor wished they bought more during the sell-off. Buffett bought $600 million more $AAPL during a 3 day sell-off in Q1 2022. The wealthy get this and it's 1 reason they keep getting richer.

[@ryanthompson8256]

Opting for an investment advisor is currently the optimal approach for navigating the stock market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 45% since Q2.

[@JasonDinero]

Thanks for replying, You seem to know much, How did you go about it and can you recommend an advisor like yours?

[@ryanthompson8256]

‘LAURA GRACE ABELS is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@ashwinaditi1039]

Laura really seems to know her stuff. I found her online-page, read through her resume, qualifications and it was really impressive. I have booked a session with her.

[@perspectiveiseverything1694]

If your bills went up, I ABSOLUTELY understand but if they're the same, asking way more of your fellow neighbors who are stretched, is cruel & predatory. It make problems WORSE. When supply & demand meet food & shelter, we need compassion, not greed.

[@JoshuaGayman_SedonaCreekFund]

It is so important that the public understands real estate investors do not like late fees because they are really just inadequate risk premiums. We just need rent on time to keep the system running.

[@cpcreit]

Ken gives away so much....insiders are probably growling over it....chuckle....

[@redarbz6545]

I apply every day over 100 applications.. I get rejected on each one of them.. I have over 10 years of experience in business management.. every job has over 100 applications in the first 24 hours, there are no decent jobs, even 6 figure jobs are now contractual jobs at 2x$ an hour.. There are no jobs to which going to work just makes no sense.

[@pinkiesue849]

It seems to me, the goal is to have everyone working for $10 a Day

[@Nick_bartlett]

I’ve heard this multiple times from my friends in tech, and hiring managers are flooded with applications submitted by AI bots :(

[@stupedcraig]

@@Nick_bartlett Are you one of them?

[@user-zf3xb3qx8w]

In Canada people rarely have HR training, or people management OUTSIDE of govt. employment. Rare. In LA is was dominant. Atlanta?? Non existent. The issue is these people don't KNOW HOW to hire.

[@MrBoxofplastic]

@@pinkiesue849 You will own nothing and be happy

[@angus6032]

Maintaining a "lifestyle they are accustomed to" is interesting. We worked to keep a roof over our head, then to buy food and IF there was anything left other needs. That was our priority in the 70's & 80's. I had 3 other roommates and lived on oatmeal and campbell's soup. Health insurance or dental insurance was unheard of in your 20's and we didn't get that until our early 30's. Today's younger generation's expectations are at a level I have never seen. We were certainly ambitious and worked our butts off at 2 jobs to buy a home...it they were always fixer uppers. We just retired comfortably due to YEARS OF HARD WORK and living BELOW our means and SAVING SAVING SAVING.

[@moneyobsessed]

Saving doesn't makes sense anymore as the fed keeps printing money to give to corporate donors

[@SmartestDumbGuy]

Exactly! Nobody is talking about this! The expectations of the young generation are out of control. My dad is 72 and never has driven a car worth over $3000 his entire life... his first house he bought was 800 sq ft shack. Everyone talks about how easy boomers had it, but they leave out how boomers had so much less.

[@user-xj4bt3pv3j]

There were a few bumps along the way, the seeds of alienation, and go get em greed had turned on the bling of disco , lots lost , some made it, mental toll on society profound.@@SmartestDumbGuy

[@mtdewramen]

​@@SmartestDumbGuydon't think it was necessarily easy or harder, but the dollar definitely went a ton further.

[@AKATenn]

you think people don't do that today? I work 10 hours a day, 5 days a week, and can barely afford a 1 bedroom apartment, and save up a tiny little bit of money that means I can retire when i'm 80 years old and live for maybe 2 years before I run out of money, hopefully i'll have passed from old age by then... back in the 1980's, making the money i do now, I could afford a house, and going to college would be pocket change, not 20 years of my life working like a slave to get out of debt.

[@danpowell5286]

I appreciate the candor, I just have one question, how much have rents increased and has that increase been market or cost driven?

[@user-xp4of2vu4r]

Thank you for sharing this information. As an ordinary home owner, with a stable income, I am not exposed to the difficulties of many other fine people and I need to understand what our national economy is experiencing.