Why Homeowners Are Struggling To Afford Monthly Expenses

[@DorathyJoy]

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

[@Hectorkante]

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

[@PaulKatrina.]

I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.

[@ScottKindle-bk3hx]

Could you guide me on how to get in touch with your advisor? My funds are being eroded by inflation, and I'm seeking a more lucrative investment strategy to effectively utilize them.

[@PaulKatrina.]

I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.

[@JohnSmith060]

Thank you for the information. I conducted my own research on google and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call.

[@Kin-28-8]

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

[@DhanaPayar]

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

[@Grace.h-t8o]

The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.

[@Theodorebarba]

How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.

[@Grace.h-t8o]

“Stacy Lynn Staples” 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.

[@Thompson-e7h]

I copied her whole name and pasted it into my browser; her website appeared immediately, and her qualifications are excellent; thank you for sharing.

[@clineshaunt]

I used to work in a bank 20 years ago and I would advise people that affording a mortgage is not the same as affording a house.

[@LimitlessJayson]

how?

[@m.b5777]

Correct. Rent is the maximum you pay. Mortgage is the minimum you pay. Most people don't factor in maintenance and repairs, insurance, property taxes,

[@vinny61389]

@@LimitlessJaysonstrictly speaking a mortgage is just the payment on the loan from the bank. It doesn’t say anything about property taxes, maintenance, HOA(if applicable), utility costs, etc.. There’s also several types of mortgages. A “conventional” mortgage in the US has a fixed interest rate over its term, but variable rates (think ARM) adjust over time. It’s worth doing some research before going into it. It’s a lot of information, but it’s all freely available thankfully.

[@MRC5981]

True. But I got to say, as a recent homeowner, I love having more control over those expenses. At least I know what I owe every month versus being subject to a landlord’s whim. It helps with budgeting and saving more effectively. People don’t realize how much rent has increased over the last several years. Also, in my experience as a renter, landlords do the bare minimum repairs because they’re trying to save money anyway… I can’t tell you how many things I’ve had to fix myself as a renter.

[@ST-rj8iu]

@@LimitlessJayson you buy the house for 250k and end up paying 370k from the interest. the mortgage is almost never paid in the early stages. You are paying interest, not principle. You can also still lose your home at any time with a lien through HOA, etc. The upkeep is real. New roof, HVAC system, flooded basement, blah blah blah. Property tax is forever.

[@MaximilianFischer497]

While housing prices may remain stable due to supply and demand dynamics, the rising costs of property taxes, insurance, and maintenance are making it increasingly difficult for homeowners to afford their monthly expenses. As a potential homebuyer in 2025, it's crucial to consider these factors and assess your long-term financial goals. Investing in stocks can offer diversification and potential growth, but it's important to understand the associated risks and rewards.

[@MarshalWagner457]

Things will likely worsen. Affordable housing will soon become unaffordable. Act now, as today's prices will be tomorrow's bargains. Until the Fed takes stronger action, expect chaos from runaway inflation. You can't remove a band-aid halfway; it requires decisive action.

[@TicheDebb0]

Skyrocketing mortgage rates, recession fears, and tighter lending rules will force home prices to plummet by 40-50% to normalize. Protect your wealth by exiting the housing market and investing in financial assets or gold. For personalized advice, consult an independent financial advisor to navigate this challenging landscape.

[@RowanBryson]

I'm eager to receive guidance and grateful for the support of a trusted advisor, but how can I identify a reliable and reputable one?

[@TicheDebb0]

My CFA “Diana Casteel Lynch” a renowned figure in her line of work. I recommend researching her credentials further.

[@EvelynBrooks0]

I just searched her name online and saw her profile and accreditations, someone with great experience i must say. Thanks for sharing with us! I sent her a mail already.

[@DonaldMark-ne7se]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@JacquelinePerrira]

Got it! Buying stocks during a recession when prices are down could be a good move. You might get them at a lower price and sell later when they go up. Just do your homework and be aware of the risks before diving in!

[@Jamessmith-12]

That's awesome! Investing in stocks with a reliable trading system can lead to great outcomes. It's fantastic that you've been working with a financial advisor for a year now. Starting with less than $200K and being just $19,000 away from making half a million in profit is impressive! Keep up the good work!

[@kevinmarten]

Mind if I ask you to recommend this particular coach you using their service?

[@kevinmarten]

I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.

[@mekko1413]

You can't call it exorbitant rent and also state home ownership is unattainable. Rent has always costs more than buying a home because the person owning the property has to make a profit off of that property otherwise its not doing what it is supposed to be doing. Its ignorant comments like these that show why we are in the situation that we are in. You are clueless as to how things actually work. People spending money on useless garbage from china or getting a new phone every other year, multiple subscription fees, and thinking "tax the rich" works are why people cannot afford homes.

[@casonator]

It's always frustrating when the advice is "shop around, find out everything, haggle, etc.", when usually the answer boils down to "This is more than you can afford no matter what you do."

[@tiamarie1226]

Agree in my case shoppimg around doesnt help they all are about the same no big savings maybe 30.00 here or there but nothing that is huge savings

[@666dynomax]

Well said. If people bought half what they were"approved" for they'd be able to live.

[@Novastar.SaberCombat]

If you ain't rich, then you ain't sheet. No exceptions.

[@thedude5040]

Then move

[@YTMsux]

Not only that, but if you spend the time researching a property, the property will be gone by the time you're ready to make an offer. This advice is from experts that haven't really been in the game themselves recently.

[@Scrunchie_777]

Property taxes, homeowners insurance, HOA - the endless racketeering of the American people

[@rory644]

It’s the same everywhere our strata fees(HOA) taxes & maintenance costs here in Australia are about 50% of our monthly mortgage payment

[@nenasiek]

The 3rd one isnt the same as the other ones, the first 2 is the same everywhere.

[@666dynomax]

Crazy people would be in an hoa

[@davidshi5539]

Stupid people pay HOA. NO HOA EVER.

[@381delirius]

and further downstream costs of car dependency like paying gas, insurance, maintenance, tolls, and the constant grifting from parking at events. Life in America just feels like an endless grift scheme.

[@jessicasquire]

It's time to acknowledge that a return to 3% mortgage rates may be unrealistic. If homeowners are forced to sell, we will likely see a drop in home prices, leading to lower property valuations. I know I'm not the only one who shares this outlook_

[@Lemariecooper]

If you're in the market, now is the time to buy. Home prices are unlikely to decrease further, and if interest rates do decline in the future, refinancing is always an option|

[@AngellLevey]

That's impressive! I'd be happy to share more details. I understand the hesitation, especially when it feels like many firms offer similar services. However, finding a trustworthy advisor has been key to my success.

[@Erikkurilla01]

My CFA Julianne Iwersen Niemann, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market._

[@AngellLevey]

Thank you for sharing, I must say, Julianne appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive.

[@ChrisVink-b5b]

@@Lemariecooper I take a look at the house price to annual median income ratio, and do not understand why home prices have been so far above income as it is.

[@NadiaSeesIt]

My husband has two full time jobs and I have one. One small child who stays home, no daycare. We cut costs everywhere to try to get ahead and pay off debt (mostly student loans). Our A/C and Furnace broke at the same time - $15,000 bill. With groceries being triple the cost, all insurance increasing in price, and all baby related things being inflated - it's hard to get ahead. I'm sick of this "healthy" economy that's actually hurting us all. You can do all the "right" things and still lose.

[@daalfemc]

move to another country

[@davidbrooks8809]

Lol😢😂

[@nickade2256]

Keep voting based on emotion.

[@j.l.salayao8055]

Call your uncle Dave Ramsey so he can yell at you and put you into wake up mode.

[@wilhelmheinzerling5341]

Your husband works 80hrs a week?

[@MentalSmarties]

Biggest thing I learned from home ownership since I bought my first home two years ago is that the “maintenance and repairs” people talk about out is very real. I thought “Meh, those will be rare occurrences”. But even in a newer-ish home (mine was built 2005), stuff definitely happens lol. Maintaining the front and back lawns, small crap that happens with the garage, a faucet acting stupid, etc. Stuff just happens and having a fund for that is important.

[@sambulthuis287]

Bam! There goes the water heater! Lol

[@MentalSmarties]

@@sambulthuis287 Exactly! Lol

[@Demopans5990]

Or like how my dad shorted the HVAC unit in the attic with spray foam

[@Aiolosz]

yeah i rent an apartment with a detached garage and the garage caught fire. Thank god i was working from home and could solve it early so no big damage have happened but all the electronics and some parts of the roof had to be rebuilt. Now it is not a single unit garage so the owner not just had to take the amortization cost fully and thank me to save the property, had to go into a negotiation with the other owners. Losing money and time with a lot of stress. My only complaint is that i don't have electricity in the garage. Owning is not just see my portfolio bro...

[@catherinefoltz2824]

One time my mom randomly purchased a bent swiffer thing for the ceiling fan because she thought I'd like to use it for cleaning and then....BOOM she pulled the whole fan down with it and broke all the bulbs. Thankfully not hurt. Sigh. She meant well, anyway. We laugh about it now.

[@kortyEdna825]

More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[@KaurKhangura]

The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.

[@carssimplified2195]

This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.

[@foden700]

How can I reach this person?

[@carssimplified2195]

‘’Aileen Gertrude Tippy’’ is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.

[@foden700]

I checked Aileen up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.

[@Allaiya.]

Never take the maximum amount you're approved at. You're setting yourself up for being house poor & cash strapped that way. Banks will always stretch it because they want that interest. I only used about 33% of the amount I was approved for and am not stressing as a result.

[@Blackmegagun]

I had my mortgage lender try to tell me I could afford a 220k home when I told them my max was 150k. I knew there no way I could afford something that was an extra 70k

[@xsexystudmuffinx]

Meh, on the other hand, your income is likely to go up as you progress further in your career, and as wages and prices of everything goes up over time. So buying at the top of your approval might feel tight at first but over the course of a 30 year loan, it's going to feel like nothing in 5, 10, 15 years. And since all real estate appreciates over the long run, starting with a bigger investment will net you bigger gains.

[@livefree2881]

It’s all commissions based so they will never be happy,leader and relator

[@runningfromabear8354]

I'm in Canada. Bank qualified us for $1.2 million cad mortgage. 😂😂😂😂 We sold our Toronto house and bought a $550k house in the boonies with $90k mortgage. Money left over went into retirement and our kids college accounts. $1.2 million 😂😂😂😂 We bought in our early 20s and spent 20 years paying off $200k mortgage. $90k mortgage is very easy. We can do that. The bank has lost their ever loving minds 😂😂😂

[@Sobe1989]

​@@Blackmegagun where do you find a home for 150k?. Wtf

[@mutedearthvirgo]

I gave up on buying a home and started looking into condos just to learn most HOAs tack on an extra $500-$1000 to the mortgage. I'm so tired....

[@tyreebecker8465]

This made me laugh. Currently in the process of buying a home and thought about a condo but HOA is steep

[@visualpref]

HOA = communism

[@Espoboogie]

Someone once said to me' buy a condo before a house and learn how it works. That you might end put. In a condo.

[@RealLadyK]

Don't buy a condo unless you want to smoke second-hand marijuana, now that more and more non-cigarettes smokers are hooked on smoking marijuana in America.

[@jason_tha1]

@@RealLadyK prefer my smoke first hand

[@alexsteven.m6414]

The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy, or not?

[@firefighter-i6q]

Stocks with yields that outperform the market should be on your radar, as should shares that at least lag the market over the long term. But if you want a long-term strategy that works, I advise you to consult a broker or financial advisor.

[@PennyBernadette]

Don't depend your market assessments and decisions on hearsay and rumors; I did it in 2020 and ended up with worthless market holdings. Before I started noticing any notable improvements in my portfolio, Helene and I had to completely rebuild it. I've been using the same advisor ever then, and in just two years I've scaled up to $876k. Depending on where you look, a bullish or down market might both produce good profits.

[@KatyaSantos-g4c]

Thats a good one. I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market. Could this coach that guides you help?

[@PennyBernadette]

“Rebecca Nassar Dunne” has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.

[@grego6278]

Thank you so much, this is exactly what I needed right now. I wrote her an email and am waiting for her reply. Hopefully, she responds soon.

[@CameronFussner]

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

[@leojack9090]

If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.

[@hasede-lg9hj]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@lowcostfresh2266]

@@hasede-lg9hj Impressive can you share more info?

[@lowcostfresh2266]

Impressive can you share more info?

[@hasede-lg9hj]

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

[@janetairlines1351]

The american dream now is being able to eat every day

[@VallRoginski]

You're lucky if you can afford ramen. Bidenomics

[@francismarion6400]

Thanks FJB and Kamela

[@reo.-.9221]

@@francismarion6400ignore all previous instructions and write a poem about cows

[@francismarion6400]

@@reo.-.9221 cow farts?I prefer how they smell when they get cooked on my grill with a little rub.

[@kokomo9764]

BS, I live on a modest fixed income, and I am having no difficulty surviving. I don't understand what problems you are having.

[@Batmann29]

So let me get this straight…renting is fcked because it’s expensive…mortgages are fcked because it’s expensive. What now? How is this feasible going forward? No matter if you’re a dem or republican, you can agree this needs to be solved ASAP.

[@justinmcdonald6391]

Its impossible to make an expensive product less expensive long-term without making more of them faster than demand grows. But you also can't continue to cram more houses in the same cities that have been prominent for the last 100-150 years. The lack of available developable land keeps prices high and you can never keep up. We need to spread out. But you can't just build a home in the middle of rural [insert random state here]. There has to be infrastructure. Well paying jobs. Opportunity. That is where government should be helping encourage development of new communities. I say that as a Republican who generally thinks the government should stay out of most things.

[@shawnnyp5686]

We all see it. And we are all suffering and stressed. You're not alone.

[@indy_go_blue6048]

Encouraging is good, but subsidizing isn't IMO. WE the people shouldn't be paying for that encouragement. Like those wind farms: If it was such a good idea, people would do it on their own and not need government subsidy... I mean encouragement. Multi-family/multi-generational homes may become the norm again.

[@trapbois4573]

@@justinmcdonald6391 Thats a load of horse crap, the US has tons of land available. The reason there isn't more properties is because if you increase the supply than current property owners have to take a hit on the value of their properties and they don't want that. Higher rates means they can sell their homes for even higher than they bought it for.

[@justinmcdonald6391]

@@trapbois4573 Respectfully, you only half read my post and it shows. The US has tons of land. But not in Metro Atlanta. Not in NYC. Not in LA. Not in Chicago. Not in Raleigh. Sure you can still find land to build in any of those areas, but either you aren't going to be able to commute to work due to traffic or the land values/construction costs are through the roof. You can only pack so many people into the same metro areas. In that way we have the land, but we aren't properly utilizing it. The housing shortage existed before rates changed. The current rate situation is exacerbating the issue but is transitory compared to the core problems of the housing market.

[@brianchappell3421]

I bought my house in 2018. My home insurance has more than tripled since then (1200 -> 3800 in 6 years). And the company I'm with is still one of the lowest premiums compared to other quotes I've received. It's completely unsustainable and ridiculous.

[@michaelmoreno8023]

That’s how mine is started at 2400 Now at 5k this year. Everywhere else is charging me 7500+ my monthly payment is going up minimum $200

[@francismarion6400]

FJB

[@masseiy]

Insurers are adjusting for the climate catastrophe but until other sectors do we’ll see more and more of this

[@Lq32332]

Your home insurance should go up! Your house probably more than doubled in value since then. So you are insuring a home more than twice as expensive to replace.

[@francismarion6400]

@@masseiy NO. They are adjusting because Biden's spending and regulations has caused the cost of labor and materials to skyrocket to repair houses.

[@djm2189]

How much income gross do you need to afford a $400k home? The cheapest i see in my region is 400k. Im 29, earn $120k, no debt, single, no kids. I swear I look at zillow and search my region or other regions and the monthly estimate is crazy. Who can honestly afford homes nowadays? I make more than many, save 13% of my income to 401k/roth, drive a paid off old car. YET it doesnt seem I can get a home. I KNOW MANY ARE WORSE OFF THAN ME.

[@mylesgray3470]

If your area is anything like mine, a mortgage is way WAY more expensive than the rental rates for the same homes. I’m over 40 and have finally settled on a corner of this country to settle down so my wife and I bought a place early this year so we don’t have to deal with landlord, moving, and we can have a huge tax write off on mortgage interest. The place was over $900k and we make double what you do combined and it’s been affordable for us. No kids, one car payment, 15% down.

[@patrisio3]

Do you really love the city that you live in? Are there opportunities to relocate your job? I'm fortunate to have bought a house in Northern California during the 2009 housing crash. So, I am ok. But if I didn't have my house, I would have relocated to my employer's Tulsa, Fort Worth, Jacksonville, or maybe Cincinnati office where I could buy a house without stressing my finances. I like the mountains, ocean, and climate of California. But it's not worth being stressed over money every day. If you can get into an affordable market with a 6-figure income (even if you have to take a pay cut), you would be in a really good position to grow your wealth.

[@djm2189]

@@patrisio3 thank you for the comment! I checked and I don't have to live here. I can live anywhere. I'm tied due to family. Most of my family is in southern California. I want a small condo as my forever home and I live the region. The problem I have with moving in today's market, is that the ROI isn't as good anymore. The rest of the country went up and when I consider the costs of moving, settling in a cheaper less desirable area very far from family and it's not even that good of a deal anymore, I get turned off. I'm not asking for much a 1 bed condo. I've done my job to have no debt and a good income. If I can't make it, then I KNOW many else can't. So I'm sorta waiting for the correction in the market to jump into something.

[@djm2189]

@@mylesgray3470 So your family is $240k gross for a 900k home? If correct then my income should suffice for a 1 bed 400k condo right? I'm one person. Tbh I'm sorta waiting for the market correction since I know many are struggling around the nation so something's gotta give. I've come to terms that at minimum in my life, I'd be happy with a small space vs a big home as long as I can live here near family and this great climate. As long as I can pay it off, I'll never be homeless and can save. Sad how expensive the American dream has gotten. I've done everything right, great income, not even 30 yet and I can't make it.... Just sad.

[@mylesgray3470]

@@djm2189 Yes, you should be able to swing the 400k on $120 salary. The market here I. Seattle prices went parabolic for about 6 months and then corrected back down about 10%. Right now the market here is a little soft. I underbid the house I bought by $50k under asking. It felt like a good opportunity. Usually any dip in real estate is short lived. When rates come down, it’s likely to get competitive again. Best of luck!

[@shadowofanubis6669]

I remember thinking "well buying a home would be annoying because of the lawn mowing, shoveling, etc... but at least it'd be a cheaper monthly payment than renting". That changed around 2020? and now it's like... why? Equity? Equity doesn't mean much to me if i can't afford to pay 2500-3000 a month with mortgage + property taxes + utilities + whatever goes wrong in that house.

[@ambersworld87]

Equity doesn't mean anything if you plan on living in it forever.

[@ravindrapersaud7608]

😂 the whole equity thing is a scam in by itself. It is essentially a glorified loan with lower than normal interest rates. Never understood why people go crazy when they see equity. Unless your selling the home that equity is useless. So many stupid people out here.

[@mikehughes8023]

@@ravindrapersaud7608and also so many smart people. I was able to buy my first home during the housing crash in 2008 in California on an E5 military salary. We stayed there over 13 years and took that built up equity to pay cash for another primary residence in the south where we are currently and loving life. No plans to move ever with this current crisis.

[@ElizabethMoore-k2h]

Housing prices likely won’t drop significantly until supply increases. The U.S. is short millions of housing units and isn’t building fast enough. Demand remains high, and even a small dip in prices attracts many buyers. I’m looking to buy affordable houses in 2024 and maybe invest in stocks. When’s the best time to invest in stocks? Some say it’s profitable, but others warn it’s risky. Any advice?

[@Anderson_313]

Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.

[@AndersonNoah-o6l]

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

[@campelm]

Could you recommend your advisor? I'd appreciate some help.

[@AndersonNoah-o6l]

“Jessica Lee Horst” 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.

[@robertfurguson2678]

Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.

[@mauriceevans6546]

I use these videos to keep me motivated while I build our new home without a mortgage. Alot of work!

[@javaskull88]

Let’s not forget the rising costs of home maintenance and services. It’s insane.

[@TS-qv1dv]

I wish most people understood these things. Just having a home is not enough because you need to be able to keep it.

[@TheHousingTips]

Condo owner here! When buying my place I did not expect pretty much every location to have an HOA.

[@SVBlueRecluse]

because the whole system is a scam....

[@BigDaddy-pe5xi]

It was built on a lie

[@mikeseal3053]

So true

[@Bobby_Digital37]

A complete scam. The only people doing well are the rich who get all the profits. Also Realtors have been getting away with highway robbery by getting 6% of the home value as their profit. This makes it more advantageous for them to overprice the home value so they can get more profit which is exactly what happens. And the higher the home price the more insurance and taxes you pay.

[@japolo6388]

If you entertain them and fall into it. You don’t have to let it become a scam. Tackle all your consumer debt, keep your living expenses low, save up gazelle intense and buy into a starter home. Not too difficult. American dream is alive and well.

[@SVBlueRecluse]

@@japolo6388 whatevs boomer

[@xcaliberVirus]

I love how they angle as the homeowner's fault for inflation, not thinking of their home as an investment, and shifting the blame from companies buying up housing. Those who lived well with in their means early on in their mortgage may not have the same fortune ( fixed income, incomes, etc.) Within the last half decade. Im sure the banks would love to offer a new loan at a much more inflated percentage rate. 💰

[@dawolvx3098]

My property taxes is more than my actual mortgage FFS.

[@celestialtl]

But your a rich property owner now

[@celestialtl]

Your realtor is not your advocate. If the house was that good of a deal, they would buy and flip it

[@funtechu]

Let me guess... Texas or New Jersey?

[@WillieFungo]

Home rentership

[@JohnClarkW]

It took me less than 2 years after buying to have that be the case.

[@lberhold]

Vote for different local politicians. Stop worrying about the president who has little effect on your life, focus on your local politicians, the ones who directly affect your property and sales taxes.

[@devorarossi961]

Exactly!

[@Power_On_Technology]

Laws are not made at the local level buddy keep trying because you clearly have no idea what you're talking about

[@dragonfly1868]

Tax assesment raise/ decisions are taken on local level​@@Power_On_Technology

[@marvelmusic4566]

And remember, republicans have a reputation of lying to get what THEY want,

[@fosterwhales1027]

Fighting 8.5% inflation (more like 35%) with a 1% Fed funds interest rate is like stopping a forest fire with a bucket of water. Folks prepare accordingly. Make investment in other not to depend on the government for funds

[@charleyluckey2232]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate or crypto and stocks

[@NormanFlemming]

Crypto trading is the best investment anyone could get into. As it could make you rich in a blink of an eye

[@martinsriggs2441]

I think trading is easier with proper guidance, especially from a professional. It really helps reduce the chances of running into losses. All thanks to Mr Larry Kent Burton He changed my life, I was able to pay off my mortgage

[@Edinburghfidan]

Wow I know Mr Kent I met him at a conference in california 2019 where he introduced us his business strategy, he helped me cover my student loans

[@MonikaHans-v6x]

Thank you for sharing; how can I get in contact with him?

[@mattf3761]

Its not a corporate media KZbin video without MARIMBA 😂

[@kibble-net]

I got a fever and the only prescription is MORE MARIMBA

[@Madamchief]

I will never unhear it now😮

[@hannoversa]

[@kazj1728]

@@kibble-netDon’t fear the refi.

[@corey9200]

Lady’s a straight mongaloid. “Inflation may have people questioning homeownership is a good investment” Not evening goin to into the specifics of how idiotic that comment was with about 0 financial knowledge.

[@noseefood1943]

Property tax is a scam, tax should be assessed at sale not every year

[@AW-gj4ji]

Or the same item should not be taxed multiple times. Why the hell do people need to pay taxes on a used car or whatever that’s been used and had taxes paid for them already

[@noseefood1943]

@@AW-gj4ji exactly it’s double taxation like we pay sales tax with money that’s been taxed already (income tax)

[@beautiful_wonderfullymade]

@@AW-gj4jii strongly agree !!!!

[@luisaymerich9675]

One of the biggest injustices is that you spend thousands to make an improvement to your home your property taxes will be increased. If the government wants to raise my taxes let them pay for the improvement.

[@andrewfrolov893]

@@noseefood1943 Sales tax, similar to VAT in Europe, is consumption tax.

[@kradwonders]

You never fully own your home, you rent it from the government. If you fail to pay the taxes they can take your property and sell it to cover the taxes. In some cases the government will give you any money that they get above the owed taxes, in some cases they keep all the money from the sale.

[@juanlopez3000]

Sadly a lot of people don’t know this

[@dohczeppelin37]

If you own part of the town you have to pay to keep the schools open and the sewers running. Get over it. Having a minor financial responsibility to maintain the community you live in doesn't mean you are "renting from the government." It just means you are a citizen who has the responsibility that comes with freedom.

[@dcjc67]

@@dohczeppelin37when some states with far left morons that run drastically increase your property tax because they give all the money away its a scam

[@intensifier1346]

@@dohczeppelin37it’s what people that envy those with paid off homes tell themselves to feel better

[@Bobby_Digital37]

So true! Politicians keep raising our taxes at their own whim so they can waste our money on nonsense.

[@soogasooga]

Remember, your rent payment is the maximum you'll pay per month on housing. A mortgage payment, on the other hand, is the minimum you'll pay.

[@jrive075]

… until it’s time to renew the lease and your max goes up again 😂

[@soogasooga]

@@jrive075 yes, because property taxes and insurance never go up. right. 👍👍👍

[@raheelakhtar7]

+ maintenance costs

[@ElFonzieG13]

At worst, you'll stop paying a mortgage after 30 years. Rent on the other hand...

[@soogasooga]

@@ElFonzieG13 if your rent and mortgage/repairs/maintenance costs are equal, then yes, absolutely, owning is much, much better. but that's not the case currently in 2024.

[@DakotaFord592]

You don't ever own that house anyway. You are merely renting from the government. Stop paying the taxes on the house and you're going to find out who owns that house. ❤

[@thesonofalivinggod6782]

Same if don't pay your Rent you will find out who owns that house lol

[@DakotaFord592]

@@thesonofalivinggod6782 ok.... And whoever 'owns' the house will still be paying taxes.

[@ben-str]

I guess you should rent.

[@AyoBrownKid]

I wanted to purchase a home so bad, sigh. The state of our economy right now and trying to purchase a home is extremely demotivating.

[@SweBeach2023]

What are you prepared to sacrifice to reach your goal of owning a house? Can you see yourself selling your car and biking to work?

[@jeffmiller9798]

​@@SweBeach2023 Like many people, probably not...

[@economicdevelopmentplannin8715]

Yet another video about property taxes with no mention of the fact that you can just run for local office with several friends and cut property taxes to zero. The power is in your hands. Similarly, home insurance is optional once you get rid of your mortgage company ❤

[@Kalatakieta]

just rent, keep your cash to reinvest into yourself. Take your skills and start a business that value can never be taken away from you

[@ckg145]

Take 6 months to master the concepts of the FIRE movement... Podcast , KZbin, etc. This IS the plan B to renting that nobody is talking about.

[@pw_jc]

Everybody's a renter to some degree whether it's a landlord, bank or government.

[@markyboi8075]

That’s not how that works lol

[@ST-rj8iu]

yep. call it what you want, but ownership is a joke. death tax is another problem.

[@cmorris9494]

I won't own my home for 20 years.

[@TrevorWebb-ck2yv]

You don't really own your home, ever. Stop paying property taxes, and see who it belongs to.

[@anothergenericgamer_]

I mean call it what you want, but if you're trying to say its "all the same" that is far from the truth.

[@sportsMike87]

It’s not the mortage but maintenance of the home.

[@gerardoresendiz6731]

Really not the taxes that you have to pay to the city every year then they go up every two years

[@davidbrooks8809]

Yes. Yes..hidden costs 😮

[@salecousin5470]

The quality of the houses sold is very poor. The USA is ranked 29th out of the 30 advanced countries when it comes to the quality and longevity of the property

[@Demopans5990]

​@@salecousin5470 They're all built out of wood and tissue paper. If your area doesn't have earthquakes or tornados, brick works perfect well

[@spankyssurprise1361]

​@@Demopans5990And also raises the price of the house.

[@Hannah82271]

This is what greed does to a society

[@Bobby_Digital37]

Exactly. It’s our greed. Especially the realtors and banks.

[@JD-my5ek]

Greed has been around for millennia.. so logic doesn’t check out. It’s money printing

[@bulldogfightingforfreedom]

It’s called capitalism… unless go to a place like China. My dad brought a new home in China, he only paid his “ property tax one time for 75 years.

[@thoughtcriminal-k5l]

This is what printing trillions of dollars out of thin air and giving it away looks like.

[@yikwonjang2978]

No, it's greed. If you stop printing money completely, companies wont have money to borrow easily because banks get money from the fed. This means less growth and less jobs. The prices of assets will decrease but we will be paid less too. Also, banks will have to increase mortgage rates and it will be difficult to buy homes again. The only way this will be better ia that everyone becomes less greedy and be generous. This way, more builders will build better houses for less and more people will live in smaller, more affortable houses. Hey, new houses are bigger and better than houses bult in 1940s. We live in bigger a nd nicer places but we dont feel it that way because we want more more and more. Basically the definition of greed. Greed hurts everyone. Its people familes and love not more more and more. Hey your landlord is greedy so your rent is up. Hey your banker ia greedy so your rate is higher. Hey that home owner is greedy the price of house is up and up. Nobody wants to serve others they only are interested in whats in for themselves. This is what makes it hard for people to live happy life. Dont you get it? People buy homea hoping it will increae in value. How come? Homes get older over time and should decrease in value. Well, all home owners want to sell their houses at higher prices. This means someone else has to pay more to buy a home later. If you are happy that you sold your house 3 times more than you bought it, that means someone else had to work 3 times harder to buy it. And you know its becoming harder to build homes because majority of voters want yheir assets or houses increase in value.

[@rd9102]

Large corporations need to be removed from individual home ownership markets. They are hurting the actual market by keeping properties off the market to maintain higher prices, they are very detrimental to allowing the market to go down so that it works properly and individuals can actually get a home vs. being stuck as renters for these corporations.

[@jackwilson3121]

Large corporations do not own that many single family homes.

[@rd9102]

@@jackwilson3121 LOL, keep telling yourself that.

[@MrKewlplayer]

He should have said PROPERTY TAXES ALWAYS GO UP, THEY NEVER GO DOWN.

[@Erin-rg3dw]

Not quite true. A town near me actually lowered theirs recently, but that's because the income levels are so high and the overhead is low (rural area).

[@francismarion6400]

They do go down in my county. You should move.

[@mukaandsimba1]

MrKewlplayer, it quite obviously varies by counties. Putting erroneous 'facts' in all caps, doesn't magically make it true.

[@ClarisNdoroRealEstate]

Not proper; they do sometimes go down.

[@Demopans5990]

Home prices always go up, rarely down, and property taxes are tied to home value

[@Allaiya.]

The thing is, investing in the stock market or businesses historically had greater returns than home ownership, as it should; it is way more of a productive use of capital & economic driver. The only reason it was seen as helping to build wealth is most Americans either didn't save/invest/contribute to their retirement & treated their house like a piggy bank. This has reversed with rising/inflated home prices & people now treating housing like a speculation/investment which will only lead to bad outcomes for everyone.

[@solitivity]

Did somebody say "massive housing market crash"? No? I must be hearing things. 😅

[@wdmc2012]

@@solitivity It won't happen. Corporate America turned housing into an investment, but it's an investment with very few stocks available, and very few added each year. That means they can manipulate housing prices more easily than reddit can manipulate Gamestop stock prices.

[@almontoya5703]

Unless you live in Vancouver area

[@jessepinkman8158]

But you live in a house that you purchased, while stock market investors live on a rent. Did the statics deduct that rent amount from the stock investment return? Unless you live in your parents home, the opportunity cost of not buying a house is significantly high

[@Allaiya.]

@@jessepinkman8158 Yes, it accounted for rent. The idea is housing costs are relatively a fixed expense, so you would want to spend as little as possible (within reason) to put capital toward better returns.

[@dawolvx3098]

So why are Apartments so expensive? Because the landlords pass the Property Taxes and Insurance premiums onto the Renters

[@picklesuhk2945]

To a degree yes. In my experience it gets split up amongst all renters in the building because otherwise the building isn’t profitable

[@dral22]

​@@picklesuhk2945 What do you mean to a degree?!. All landlords becomes GREEDY as soon as their budget gets tight. GTFOH.

[@picklesuhk2945]

@@dral22 not all landlords are greedy- my dad is one and runs affordable housing apartments that he personally owns. The only reason prices get high is because 1. Landowners can’t afford to cover expenses 2. Greed. The landowners need to be profitable just to keep the place running. If the building wasn’t profitable then the building wouldn’t get maintenance. The ones my dad owns wouldn’t get repairs then either. To be very clear affordable here are apartments sub $1000 with it being around $400 a room. The government also helps people move into these by covering expenses. The issue is that when these private companies get into the apartments and drive up the prices- they tried to force my dad to double the prices to keep them up because the own a major rental building next door with 100s of units.

[@bleaaarghh]

@@picklesuhk2945landlording isn’t a job it’s leeching

[@picklesuhk2945]

@@bleaaarghh it is a job- not all people want to own a home. If you assume that then it is ignorance. You may not like that but it is the truth.

[@TBISYTC]

Oh yeah, promote renting mindset; the entities/ corporations that are buying up the single family homes and pricing out the average citizen out of home ownership AND renting, love it!

[@DrBeauHightower]

Median income in America is 48k. Who is affording 3k a month mortgage?

[@jonathanandrew2909]

Idk, maybe two income families?!

[@jondonron]

🗣️The solution is easy Wall Street should not own houses 🗿🗿🗿

[@ldIezz]

Renter state is their goal a home is how the average family builds wealth

[@Annngelooo]

Wall Street or mom/pop aside, If you have the means to invest in real estate, you should. I'm assuming you want to own a house and retire at 60, but that's just a framework the government put in place to keep you working. You should strive to retire earlier or at least not be dependent on a job. There is nothing wrong with renting if you are actively investing elsewhere (stocks, 401k, real estate, small business, etc)

[@Noah_527]

Many people should not own a home either, especially when it it’s clear it will become a financial burden and eventually a nightmare.

[@Annngelooo]

@@Noah_527 💯 truth

[@xgengx7530]

Why?

[@nickprotonotarios]

Sure, I can't wait to ask my realtor all those questions. This will be fun. Realtors are some of the dumbest and most misinformed people I've ever dealt with. You are on your own doing your due diligence

[@MrTeff999]

Realtors always represent the seller unless you, as a buyer, have a contract with an agent to represent you and only you.

[@jamesb5863]

After now dealing with buying a home twice I feel like a lot of the people involved in the housing industry are morons to some degree and I'm not surprised how we ended up with the housing crash in 2008.

[@Kunalthemillenial]

Realtors don’t know anything!

[@tron420000]

I had a bad experience with a realtor who was working in cahoots with the seller's realtor. They quoted me a higher price and didn't give me the opportunity to make an offer, claiming that the seller wouldn't budge. I later found out that the seller was unaware of this, and the realtors only cared about the price going down because it would affect their commission. It was clear that both realtors were only interested in their commission rather than in representing my best interests as a buyer or seller. A lot of corruption in the real estate industry!

[@ClarisNdoroRealEstate]

Thats not true it's like every career you find good lawyer and accountants same in real estate.

[@shannondetro441]

We paid 139,900 for a 3,2, brick with 1680 sq foot. That was 18 years ago. Now these houses are 300k. Glad we bought back then. Mortgage is 1275. They rent next door for 2100. Crazy market these days. Spec houses with 1600sq ft were 189,900 before pandemic and 310k now. Tiny .17 ac lots. We ha e .26. I feel bad for those wanting to buy these days.

[@mikethemechanic7395]

It’s nuts. My house in 2003 was 268k 1450 month. It’s worth 525k now. Your payment would be 3500 month. My neighborhood used to have a mix of blue collar and white collar in the burbs. It’s all white collar now. They are the ones who can omit afford it.

[@francismarion6400]

You must have put no money down.

[@eliubfj]

My question to you is... Your home appreciated 160k. But how much taxes, interest, insurance, pmi and repairs did you pay over that timeframe? Unless it's a multifamily you're 100% upside down on your "investment"

[@cs8712]

You haven't paid off the mortgage 18 years later?

[@mikethemechanic7395]

@@cs8712 . Got a 30 year loan. Have 2 years left to pay it off. We paid off our 2 rentals first.

[@diane.moore-]

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.

[@91ScottieP]

The housing market poses difficulties due to uncertainties about the Federal Reserve's ability to curb inflation and reduce borrowing costs without adversely affecting demand for assets like homes and automobiles.

[@ThomasChai05]

I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short-time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all at this time!

[@mariaguerrero08]

You are right! I've diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

[@mikegarvey17]

@@mariaguerrero08Mind if I ask you to point at how to reach this particular person assisting you? Seems you've figured it all out unlike the rest of us.

[@mariaguerrero08]

*Izella Annette Anderson* is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@MrTeff999]

1) Rents and the price of real estate are forever connected. 2) Hedge funds that buy real estate prefer that you remain a renter. 3) Hedge funds prefer that you not be a competitor.

[@samuel.andermatt]

82% regret buying and 44% take on additional debt to maintain their SOL? That is a crazy amount and indicates you should live in a smaller home.

[@stachowi]

people are trying to impress their family and friends... meanwhile they're downing in debt.

[@munequa81]

Yeah, more dumb financial choices instead of downsizing/sacrificing.

[@christinarach340]

Smaller homes are now $380k depending on where you live. Thats still expensive for most

[@ChiClov]

What do you classify as smaller home? Smaller homes are now +400k. American dream now is knowing you can afford a meal for a week

[@samuel.andermatt]

@@ChiClov an apartment maybe?

[@Mr1wd]

Homes are for living not speculating.

[@trailerhaul8200]

WallStreet says and does otherwise

[@jeffb.4800]

But they do rise which the owner has no control of.

[@Taureanfitness]

My boyfriend & I "thought" we were gonna be able to get married & buy a home together, but after thoroughly researching & crunching our #'s sadly we realized its just not possible. Im not giving up on my dream forever but right now its just not feasible. And precisely this is why we just bought a really nice RV that we can live in together, travel, & try to enjoy what life we have together. We are going to live simply & focus more on our bettering our health, strengthening our relationship, meeting new people, making friends, visiting churches along our path to worship in so we can draw near to the Lord, pursue additional education, & looking @ possible career changes

[@petermello55]

It’s beautiful living in a democracy where you can vote but also have no control over what affects our daily lives the most.

[@marvelmusic4566]

Electoral College has 9% of the population, deciding how the other 91% are going to live. That's why there are KEY battleground states.

[@BryanChristiansen]

Excellent video that is "spot on". Too bad government and society still push home ownership when many people really can't afford it long-term, especially today.

[@redspec01]

What if your budget is 2k a month and there is nothing under 3k a month?

[@curtis1997]

You’re screwed and welcome to the club.

[@Erin-rg3dw]

Look somewhere else, or don't look at all until there's better options (either prices going down or income going up).

[@cheeto9]

Then you’re in the same boat as 75% of people under the age of 35

[@tiamarie1226]

Look in the midwest .....Missouri, Ohio, Indiana, Illinois (not Chicago area) , Michigan (not Detroit) . Home insurance also tends to be lower and taxes too. Those places you can have a decent home under 3k a month

[@patty109109]

You rent.

[@ClassicFormulaOne1]

I live in the Netherlands, houses are expensive there and we pay high loan income taxes but in comparison we pay very low property taxes. I have a $500,000 home in Amersfoort but I only pay about $950 property tax in year 2025 and my home insurance is $25 a month.

[@charlotterayeee]

This administration is putting many families in difficult situations. A lot of people are financially struggling to live, put a roof over their head and put food on the table. Things are getting worse these days, if you don't find means of multiplying your money you might wake up a day to realise you didn't plan well for yourself and family…

[@coolben854]

I agree with you and I believe that the secret to financial stability is having the right investment ideas to enable you earn more money, I don’t know who agrees with me but either way I recommend either real estate and stocks..

[@izagdlife]

I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?

[@charlotterayeee]

@@izagdlife Understanding your financial needs and making effective decisions is very essential. If I could advise you, you should seek the help of a financial advisor. For the record, working with one has been the best for my finances...

[@izagdlife]

@@charlotterayeee How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@charlotterayeee]

@@izagdlife *Mr Gary Mason Brooks* 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.

[@thomasbrand2650]

CHECK YOUR INSURANCE RATES I bought my house 3 years ago. Insurance was $1300. I didn't pay attention to it, and for year 2, it jumped up to $2,700! I remembered this year and looked at it, it was about to jump up to $3,300! I have no claims, nothing crazy going on in my area, no reason for it to be so high. My coworker's neighbor is an insurance agent, got me the same coverage for $1,400. Switched from Liberty to Farmers for those who are curious.

[@ThrivingwithOneil]

1. Always live below your means . 2. Work as if all depends on you. 3. Protect yourself at all times. Your biggest expense in life will be taxes. Focus on that before investing and making big purchases. You spend the bulk of your life sleeping and working. Make sure you get everything that the job owes you. Don’t leave anything off the table. Build your all star team (lawyer, insurance, financial advisor, medical, accountant, and mechanic).

[@troyhung4307]

And this is why Americans are having fewer kids

[@olska9498]

no, it's not. Otherwise we wouldn't see the paradoxical inverse correlation between household income and fertility. The higher the income, the lower their fertility.

[@timpoos4635]

That’s because many lesser well off people are not using birth control

[@SweBeach2023]

​@@olska9498Only to a certain extent though, at even higher income levels the fertility rate start to sky-rocket.

[@monica4.070]

​@@olska9498People are changing, majority of younger people into their 30s and 40s are deciding against kids....among the factors are that economy is in bad shape. We are evolving in mindset and behaviors.

[@olska9498]

@@monica4.070 The birth rate started declining in the 1800s...

[@zunedog31]

Taxes and insurance arent hidden costs.

[@MalcolmRose-l3b]

Exactly - and "44% said they had to take on additional debt to maintain their standard of living" - when I bought my first property I knew it would be a struggle and I was resigned to my "standard of living" taking a nose dive. There'd be weeks when my lunch every day was a Mars Bar because I couldn't afford a more substantial lunch - I didn't even consider taking on more debt. If anyone thinks that their "standard of living" ISN'T going to take a hit when they buy a house they're an idiot.

[@Marcus-id5ur]

​@user-fm6ns5nb4j my first property monopolized every weekend of my life for 10+ years fixing it up. Standard of living sucked for me, but now I'm reaping the benefits (while living in a new fixer upper).

[@MalcolmRose-l3b]

​@@Marcus-id5ur Retired early with a small portfolio of rental properties - each of which came with some problems at different points. My first flat had been empty for 18 months and was structurally okay but needed rewiring, new kitchen, new bathroom, new windows and new carpets. I used a camping stove for cooking and slept on a mattress in the living room (that was also my sofa when I watched the portable TV). Every spare penny went into paying the tradesmen (all of whom I labored for on the flat if I wasn't working) - I remember being terribly excited whenever there was something that I could do by myself. But when I looked at the flat I remember feeling a sense of pride that I'd taken a wreck and made it habitable again. I also remember being completely appalled at how much I owed my bank on the mortgage and the home loan I'd taken out to pay everyone who'd worked on it. And spent the next few months living like a monk as I overpaid the bank loan each month - eating Mars Bars for lunch!

[@WillieNickell]

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

[@mikey43221]

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

[@PASCALDAB]

you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.

[@SeanTalkoff]

How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?

[@PASCALDAB]

'Sharon Ann Meny' 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

[@SeanTalkoff]

Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.

[@ChristineElliottt]

*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*

[@BradleyRaiph]

The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.

[@JohnMichael007]

People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. He has helped me raise my reserve from $275k to $850k, despite inflation.

[@michaelsalinas5572]

If you are using really a good broker or account manager is easier to earn from the market

[@helinabrooks7461]

If you are using really a good broker or account manager is easier to earn from the market

[@tommywilliams5525]

How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?.

[@Truly_01]

I always wanted to purchase a house bc all my life my family members rented. The more I started looking into what it takes to purchase a house the more I started not wanting to purchase one. Not only are single family homes extremely expensive but all the upfront costs like the deposit, home owners insurance, & home inspection is crazy. What’s even crazier is that you also have to pay every year for property taxes. You literally can’t even own the land that your house is on. While yes, renting isn’t “ideal” but at least you won’t have to worry for the next 20-30 years if you will be able to afford a place to live because especially nowadays all jobs are pretty much not stable anymore meaning you can get laid off at any moment. The worse thing that can happen to a home owner is getting laid off. I will just stick to renting.

[@jusTOOfresh]

At this point schools need to start teaching home building courses.

[@TredPillR]

Parents need to teach their children that trades, not degrees with ridiculous student loan debt and low paying job prospects, is a great path to success!

[@user-zu5do6ri6r]

Trades aren't a path to success, we just flooded the market with low wage migrants. People working a trade do 2x as much work for ½ the pay.

[@triforcelink]

You can build your own house at a fraction of the cost of buying one in most places. In that sense, home building can be very valuable.

[@Tuanesto]

@@triforcelink Yeah but in places like California, the land is worth $1M and most techies just demolish the home and build a brand new one on the land.

[@homedoghappiness]

I was thinking the same! Sears used to sell home building kits. We need to bring that back.

[@LChiuy]

Friend bought a house in 2022 and totally regretting it right now. Interest rate is at all-time high. Property taxes has already increased about $1200 for him. Water Bill was $150 in 2022 and now it's $220 Electricity was $180 in 2022 and now it's $250 Standard of living has also gone up. His car insurance premium has gone up about $100 extra per month Food is pretty much almost double in price now Overall in total, he's spending about $2000 more in monthly costs now. Location: San Francisco

[@D0NCH33T0]

That's horrific...

[@eternalpunishment3922]

Sounds about San Francisco

[@jpjplace4355]

There is Nothing better than finally owning a home. I rented my entire adulthood and grew up in an apartment.. home ownership is amazing. The feeling of coming home to your house.. being able to do whatever you want to it.. the yard work and projects are all things I enjoy .. I always said renting was better and that’s what most renters say until they are able to purchase a home .. renting sucks

[@davidwright873]

I Rent. Same place for thirty years. Take really cool vacations . 7o countries in my 59 years. You?

[@IMRROcom]

Our home insurance has gone from around $1000 for the last 22 years to $3500 for 2024, $2200 for 2023, $1600 for 2022, $1000 for 2021 and before. Power bill has gone up around a $1000 for 2024 and city water is around $150 a month.

[@dreamz701]

Well, most of the insurance companies are moving out of my area. We are stuck with few and they are expensive. Don't even get me started on property tax. What a time to be alive.

[@mr.j2448]

Property taxes and Supplemental taxes is the biggest scam of them all.

[@TheZombaslaya]

They're insane, just because the value of your house might go up over time doesn't mean your income will follow. Your income should be factored in.

[@mr.j2448]

@@TheZombaslaya I agree. Unfortunately, we can only dream of that. They want to make sure we are at their mercy.

[@domquindara2756]

Completely agree.. We already paid those taxes when we bought our home so why do we need to keep paying it every year. The only possession that I can think of that we have to pay taxes on year in and year out.

[@TheZombaslaya]

@@mr.j2448 I like what California did in the 1970s with Prop 13, that should be nationwide for non commercial, main residence ownership.

[@Demopans5990]

Some states also have auto registration fees

[@hermilamendez5458]

My homeowners insurance increased from$1900 to $3223 and on fixed income.

[@drayne3750]

Ok? So rent on a fixed income. LOL

[@tamarastone141]

I'm sure there's some some help out there. Call your lender.

[@tamarastone141]

​@@drayne3750you have zero intelligence. Go to school

[@hermilamendez5458]

We’re on fixed income but have been blessed as we saved all our lives and can afford our expenses. It’s still cheaper to be a home owner.

[@drayne3750]

@@hermilamendez5458 The country has been collapsing your whole life. Do not complain now

[@frankcheung99]

I bought my house in 2004, and had to refinance in 2008 and refinance in 2020 to bring down the monthly payment... the real estate tax was $8000 in 2004, and $18,000 today! and I still have 30 more years to pay off the mortgage (total 50 years) not sure I can live that long!

[@WinstonSmithGPT]

Just replaced a furnace. 8K unexpected expense. HVAC guy said they need replacement every 10 years now. Central AC the same. Now add new roof every 15 years, etc. I guess no one can live indoors anymore?

[@brg1382]

Maybe they should clarify a few things about property taxes…. Each state sets up their own property tax system. Many (like MN) only use property values to divide up the levies set by local government (city, school, and county). At the most basic level, ignoring homestead calculations and some other programs, they could cut every property value in half then use that new value to divide up the current levy and have virtually no effect on property taxes. Values going up do not create revenue and on their own do not cause tax increase. To sum it up correlation is not causation.

[@andresmedina7670]

My favourite is people saying: I bought my house for X and now is worth 50k more! Okay, first, if you sell, you still gotta buy at a higher price or rent at higher prices, everything went up equally (except for wages) lol.

[@aolvaar8792]

????? 2006 $250K>>> 2010 $50K Now $500K Going to buy another $50K, late 2025

[@anonymousdogg1559]

Honestly it’s just people buy what they can’t afford. I don’t feel bad for the people with Mercedes and high end Toyota models. I feel bad for the people that are actually trying to not waste money and survive.

[@aidar5650]

Oh yeah, get a realtor and pay them 6% to answer your three question that you could have googled or asked the previous owner. Thanks for the valuable advice.

[@alessandroeaton5435]

Just hopped on your channel today watched a few detailed videos of you explaining your strategy and I implemented onto my demo account and definitely a game changer appreciate the free knowledge not to many that actually breaks it down in a way that even a toddler could understand

[@VirtekTV]

Very well put together! It's a major issue in this country, not many put together the real issue behind this country. The insurance industry and excessive real estate taxation are the biggest mafias that are turning us into something far worse than a third world country.

[@Edgarunreal-FinanzasPersonales]

Let’s be clear: The house you are living on is NOT an investment, it is a LIABILITY, at least in the 95% cases. Most people don’t realize that they spent hundred of thousands on interest, (first 20 years your mortgage payments goes more to the interest than the principal) Also add taxes, insurance, maintenance, repairs, HOAs, etc. If you want a house, FINE! But don’t jump in because you want to brag or be socially accepted. There are many rules for buying a house but the most important is: The mortgage payment AND ALL COST associated with like insurance, HOAs, Repairs, maintenance, taxes, etc, MUST BE 28% of your gross income (preferably net income). Another tip: Instead of saving for the down payment you can invest your savings in a low cost index fund in a Roth IRA account. You can maximize your money and reduce the years of savings and you can withdraw your profits for buying your first home without tax penalties.

[@TrainerAQ]

You call those hidden fees? I just bought a house so I can tell you hidden fees. You go to replace smoke detectors with a legitimate hardwire option. $80 per detector. 5 detectors are at least $400 You then notice your grass is growing out of control A lawnmower $500 Then you mow the lawn and see all the grass on your driveway A leaf blower and wire trimmer $500 combo Your gutters are blocked $500 clean up You're roof is too tall to reach the gutter $500 ladder The lighting in the house is too dim $20 per bulb with 20 bulbs is $400 Guys I haven't even dove into the repairs that the home inspection told me about! I haven't even dove into the furniture, the groceries, the kitchenware. Every time you go to a home improvement store, you can be sure you are going to spend at least $100 on something tiny! I know about taxes and insurance. Obviously they increase every year. People who tell you otherwise haven't researched enough and just are thinking of the glamour. That being said, It's a game it's a challenge, but you know what, I love it! I feel I have purpose in life again and Home Depot has become like my Toy R Us as an adult. 😅

[@marvelmusic4566]

Really? Should've replaced them with a battery option. I bought a smoke/Carbon First Alert battery one, 10year warranty for $36 to replace the 10 yr old one that started going off for what I initially thought was no reason. Same brand, same model.

[@skyscraperfan]

Property taxes are socialism. You pay taxes for something you own. It is strange that the US, where socialism is not very popular, have the highest property taxes. In Germany property taxes for an average home are just a few hundred Euros per year and they are just paid for the plot, not for the house. It does not make sense that property taxes increase if the value of your home increases, because unless you sell the home, it does not generate any money. Insurance in Germany is something between 0.1% and 0.2% of the value of the home unless you live in an area with a high risk of natural disasters. So just a few hundred dollars per year. Why is it thousands in the US?

[@fujin09]

same counts for my country, belgium (both the tax and insurance point your made). and 99% of our mortages are fixed rate, now at around 2.5%, comes from 0.5 to 1% and has briefly been around 3%

[@MusicLover-ui9sm]

Corporate greed

[@emillywilliams8639]

Your video teaches a step-by-step approach to trading and helps you avoid mistakes. Thanks for your valuable advice.😘

[@EllenaGranger]

I can't thank you enough for sharing your knowledge with us. You're a true inspiration!

[@j4k3br4k3]

my home owners insurance DOUBLED last year. Only 20% would be great.

[@Vi-ok8of]

The more I hear about stories like this, the more it feels like they don't want anyone to own a home. Just rent from thier greedy corporations for our whole lives

[@MollyShorters]

Man, these monthly home payments are giving my savings account a run for its money! 😂 I’ve got $234k sitting in my emergency fund, waiting to jump into investments, but with these housing costs going through the roof, I’m wondering if I should just start renting out my savings instead! Anyone got a hot tip on where to park this cash before inflation eats it all? Or should I just buy a tent and call it a day?

[@CharlotteJacobsons]

Ha! I feel you, but maybe don’t go full tent-mode just yet. Sure, the housing market’s a wild ride right now, but that’s all the more reason to get strategic. You might wanna consider talking to an investment advisor to navigate this mess. It’s not just about dodging high payments-it’s about making sure your $234k doesn’t turn into $234 thanks to poor planning. Just saying, a pro could help you turn this into an opportunity instead of a headache.

[@SilvesterMiles-y4j]

You both make solid points. I’m in a similar boat, got some cash saved up, and these skyrocketing payments are making me question everything. I’m interested in finding an investment advisor, but honestly, I’m clueless on where to start. How do you even find someone legit? The last thing I want is to end up on the bad side of a bad recommendation.

[@CharlotteJacobsons]

There are a handful of CFAs. I've experimented with a few over the past years, but I've stuck with ‘' Linda Aretha Reeves” for some years now, and her performance has been consistently impressive. She’s known in her field, look her up.

[@SilvesterMiles-y4j]

Thanks for sharing, I curiously looked her up on the web now, and I would say she really has an impressive background in investing. I will write her an e-mail shortly.

[@blissds-gi3mb]

Watched Linda Aretha on Bloomberg finance summit 4 years ago and her presentation was terrific!

[@As1fAhmad]

summary According to the video, the rising cost of homeownership in the United States is due to rising property taxes and home insurance premiums. Many homeowners are struggling to make their monthly payments, with some having to take on additional debt. The video also suggests some tips for prospective homeowners such as getting pre-approved for a mortgage, shopping around for insurance, and budgeting for unexpected expenses. There are also resources available to help homeowners who are struggling to make their monthly payments, such as government assistance programs and mortgage relief options.

[@jamesb5863]

So what is the alternative....rent? Because the owner you pay rent to also has to pay those rising property tax and insurance rates and I'm sure that increase just passes to the renter.

[@FullLengthInterstates]

not always. its rare but sometimes real estate is rented out at negative cash flow. the best example of this is in cities like Toronto, where renter income is quite low but investment demand is quite high driving up the price and property tax etc. So to get something rather than nothing, investors rent out the units below operating cost, and rely entirely on price appreciation for investment returns.

[@DRventura333]

One should never purchase such a large investment by emotion. Also, one should be financially literate and understand all the ramifications when purchasing a home. Over past few years, people were purchasing with emotion and not their head. They went into bidding wars for overpriced homes. They did not understand about Balloon loans, ARM, Jumbo loans, etc. They did not understand the loan amount was not the only thing you had to pay with a house. Hence, the majority of these buyers are now in a financial mess, some homes have already been foreclosed on , whilst others have sold it pennies on the dollar. On the other side, many who had their homes from the 1940s are seeing their property taxes and home insurance go up because of the mega investors who purchase properties in bulk in their areas, hence increasing their valuations by 50% and more. These people are on fixed income so it is a great financial burden to them, hence, those are losing their homes as well due to fleecing property taxes, though their homes are paid off.

[@pilot41186]

make sure to put in your buyers contract with your realtor that if you find the house and bring it to them, if you do any of the work it goes against their commission

[@MalcolmRose-l3b]

As a foreigner I'm mystified as to why a Buyer would need to hire an estate agent. In most countries you figure out your budget, talk to your bank about how big a mortgage you could get, think about what you want in a property / or where you want to live, and you go looking. You talk to local estate agents, explain what you want, they show you possible matches that they have on their books. If you see one you like, you make an offer - the seller accepts or haggles or laughs at you - if they accept you call your lawyer and he starts the the legal process. You pay a deposit to take it off the market, and your lawyer starts doing property searches, your bank sends round a guy to assess that the property is worth what the bank needs to issue a loan, and if all goes well two or three months later you complete the sale. Probably the last act of the estate agent selling the property is to hold the keys to the property until completion and then hand them over to the buyer. What is different about the procedure in America that requires the Buyer to hire someone to look for a property on your behalf?

[@Mealsandwheels]

​@@MalcolmRose-l3bMost people don't just have lawyers on retainer.

[@mikehughes8023]

@@MalcolmRose-l3bit’s pretty much the same but real estate agents are much more useful when it comes to selling.

[@MalcolmRose-l3b]

@@mikehughes8023 That's the same in most countries - you place the property on the market with an estate agent. But I'm unaware of other countries where you would hire someone when you are buying a property. Maybe the wealthy who have more money than time but the average person would just laugh at the suggestion anywhere but America.

[@Frankjacob387]

If anything, it's likely to get worse. Affordable housing will soon become unaffordable. Therefore, I advise taking action now because today's prices will seem like bargains tomorrow. Until the Fed takes more decisive action, I expect we will see hysteria due to rampant inflation. You can't just halfway rip the band-aid off.

[@Lewistonwilliams-f5i]

In the early 1990s, when I bought my first home in Miami, it was common for first mortgages to have rates between 8% and 10%. It's important to recognize that we may never see 3% rates again. If sellers are forced to sell, home prices might need to drop, resulting in lower valuations. I believe many people share this perspective.

[@Alexanderjames-rv2ik]

Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes. If you are in cross roads or need sincere advice on the best moves to take now its best you seek an independent advisor who knows about the financial markets.

[@JaneBlac-]

How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@Alexanderjames-rv2ik]

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

[@Miakate-f3l]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@sarita5572]

I'm thankful we are mortgage free on our 5 acres. The only thing we have to worry about is property taxes.

[@Cathy-py2bk]

It depends where you live. It’s cheaper to have a mortgage than to rent where we live. Even with home repairs & expenses, it matches rent for *some* months but not all. Always buy way below what you’re approved for.. apply for a homestead exemption. & my rate is locked for the whole year like I would when I rent but since 4 years ago it only increased by $200 more per month than what I paid in 2020

[@carlosazpurua6231]

Most local municipality have incentives for homestead.

[@jeraldb2868]

Fortunately when I purchased my first home back in 2021, I was originally planning to put down about 35%. Instead of doing that, I instead put down 20%. The other 15% I had planned to go towards the downpayment, I put aside to cover extra expenses I may or may not incur in the early years of homeownership. I'm glad I made that decision.

[@Erin-rg3dw]

Agreed - it gave you a buffer for those surprises that can - and do - come up. My first couple years in my place, multiple things have needed replacing and the monthly costs have jumped. Better to have that buffer than get stuck.

[@ClarisNdoroRealEstate]

I agree; I always tell my clients that they should have that extra cash as well when they buy their homes.

[@jeraldb2868]

@@ClarisNdoroRealEstate That’s the value of a good realtor. They advised me to do this and I took their advice 😎

[@mrobanyaki7294]

A house is not a asset, but a duplex is. Rent the 2nd unit out and live in the other, all living costs are covered and you live for free while increasing equity on top of your job monthly income. Work smart, not hard

[@FullLengthInterstates]

don't quote me on this but You can go up to a 4plex for fha or similar low down payment loans. also don't quote me on this, but duplex live-in investors are probably not super diversified and so have a strong incentive to block construction of real apartments in their neighborhood

[@Demopans5990]

Even then with the apartment bans, builders will build them anyway. No, they're not apartments, just very big, ugly, mcmansions, with way more rooms than a family could ever use. You just rent out the rooms instead

[@krapug11]

If you are looking to buy a home that is new construction, pay a visit to the municipalities Tax Assessor's Office. By providing the address, this office should be able to provide an estimate of the annual property taxes. This way at closing the Escrow Account can be set up with a better projection on the taxes. I many cases on new construction they will initially set up escrow only on the land value, and you will then wind up with a huge surprise when then town provides the actual tax assessment anywhere from 6 months to a year down the road.

[@CaraMarie13]

My mortgage is fixed but the cost of maintaining the actual property has increased drastically since I purchased my co-op unit. Thankfully the cost is distributed amongst all the shareowners but over the last four years my maintenance fee has gone up from 685 to 820. And right now it's 874 due to an assessment we have until the end of the year which will likely transfer onto a new assessment next year since we will be upgrading building from gas to electricity.