Why U.S. Real Estate Is So Flawed | CNBC Marathon

[@That-Guy_]

Make it illegal for corporations to own single family homes

[@Freiheit1232]

Thank you! How're we supposed to compete with Blackstone

[@LostChildOfTime]

Louder for those at the top.

[@tonywilliams4314]

Exactly this is why the US is going down

[@stephenc2481]

don't forget. foreigners are buying US homes too, especially the Chinese.

[@viveannebeckman6816]

@@stephenc2481 and NO FOREIGNERS should be able to own our land

[@Sunnyso24]

It’s not just the interest rate. It’s the cost of the house itself. It’s ridiculous!

[@jaad9848]

Everyone wants to ignore the obvious because its inconvenient

[@Sonofawildanimal]

For old homes that are falling apart non the less. It’s a joke.

[@frenchonion4595]

They appraised our house at 150 thousand when it was like 80 grand like 4 years ago and it's not anything special

[@0IIIIII]

@@frenchonion4595 where do you live? 150k for a house is cheap. Flyover?

[@0IIIIII]

@@Sonofawildanimal poor

[@Rochelletrem]

As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.

[@DavidRiggs-dc7jk]

I suggest you offset your real estate and get into stocks, A recession as bad 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 advise but get buying, cash isn’t king at all in this time!

[@berkrix4312]

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.

[@EllenAbrex]

@@berkrix4312 Do you mind sharing info on the adviser who assisted you?

[@berkrix4312]

I personally work with 'Julie Anne Hoover’’ she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk. many things like that. Just take a look at her full name on the internet. She is well known so it shouldn't be hard to find her.

[@EllenAbrex]

​@@berkrix4312 I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes. Thanks

[@702PARADISE]

People can afford to pay 3k in rent a month but dont qualify for a house with a monthly payment of 2k

[@camcommute]

You don't qualify for mortgage because that isn't your only expense. And most fail to realize that. There is cap ex, maintenance, taxes, insurance, etc. Banks need to ensure you can fix a roof if it goes bad.

[@cinpeace353]

Owning a home is same as owning a car. Only have enough money to buy the car or home is not enough. There are lot of cost associated with it once you own it.

[@UneducatedGeologist]

My life for 7 years. Now I am on verge of homelessness. Haven't missed a rent payment and nowhere cheapest my area is 70% of my income.

[@alexarzamendi9475]

@@UneducatedGeologist serves you right. Should've picked a real career instead of whatever you've been doing the last 7 years.

[@dontcallmebigguy3284]

@@alexarzamendi9475 Wow nice guy. Hope you never fall on hard times.

[@bobbymainz1160]

In spite of how everyone is frightened and calling the crash, there is already an excessive amount of demand waiting to absorb it, which is another reason it's less likely to happen that way. This forecast was not made in 2008, at least not by the general public, as I will explain below. The ownership rate peaked in 2004, according to the other comment. We reached a peak in the second quarter of 2020 and are currently at the median level. From 2008 to 2012, it fell by 3%, and in the second quarter of 2020, it dropped from 68 to 65.

[@stephaniestella213]

It's because they are used to bull markets, most people find it difficult to handle a decline, but if you know where to search and how to get around, you can make a sizeable profit. It depends on how you plan to enter and leave.

[@kimyoung8414]

@Zahair O'Brian My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

[@kimyoung8414]

@Zahair O'Brian Thank you for this tip. it was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her résumé.

[@neilabernath5862]

This comment makes no sense.

[@nuance9000]

What demand? 😅😂 Even Zillow went broke flipping homes, and "prime-age homebuyers" are stretching their budgets above 30%😮

[@JHZech]

Focusing on the mortgages is misguided. The base cost of housing is too high because single family zoning has made it illegal to build duplexes, condos, townhouses, etc and choked off supply.

[@bobbyc1120]

Exactly. And in large cities, this becomes a transportation issue as well. Once an American city hits 5 million people or so, the traffic gets so bad that people living on the edge of the metro can't commute to work anymore. So building new SFH's stops being an option.

[@atra7812]

Is not just that, professional land lords and big institutions hoarding everything are also causing the problem. Force these exploitative business owners and CEOs to pay workers fair wages and TAX the wealthy in oblivion. You'll see that when people have money, they just start buying homes even without loans. The rich are buying all the assets because they have too much disposable income, which is further increasing wealth inequality.

[@tstanley01]

Most people don't want a bunch of duplex or quads littered throughout their neighborhood...

[@herooo.2928]

@@tstanley01 then move to buttfuck, alabama where you can build your 15 bed house with a huge backyard and pool. you don't need that big of a house in dense areas with high populations. the city has parks, pools, amenities everywhere.

[@igotanimac1]

Base home prices are heavily impacted by mortgage rates, so it's definitely part of the equation. A small single family home is not all that much more expensive than an identically sized townhome or condo, there is just not enough small homes being built. Mostly all new construction being built is over 1,000 square feet, barely any new construction is built under 1,000 square feet because home builders make more money by spending their resources building homes that are bigger and more expensive and with larger profits.

[@andrewchandler0]

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?

[@Tomtownsend485]

If you are new to the market, I recommend seeking professional assistance. The most effective approach to creating a well-organized portfolio is to begin with a professional who is knowledgeable about the turbulent yet profitable market.

[@robertosaviano215]

Very true , I diversified my $400K portfolio across multiple market with the aid of an investment advisor, I have been able to generate over $900k in net profit across high dividend yield stocks, ETF and bonds in few months.

[@elliot985]

@@robertosaviano215 How can I contact your Asset-coach as my portfolio is dwindling?

[@robertosaviano215]

@@elliot985 It's best you do your due diligence, I have my portfolio overseen by “Laura Marie Ray” and her qualifications speak for itself. Most likely, the internet is where to find basic info, she has a noticeable page for consulting.

[@matheuspinto118]

@@robertosaviano215 I just looked her up on the internet and looked into her credentials. I wrote her a letter outlining my financial objectives.

[@MountainRancher]

In the old days, poor people built their own homes and rich people paid someone to build for them. Now, people are unable to build for themselves because of strict regulations and a lack of skills.

[@nate4fish]

Exactly, I get pushback for bringing this up with planners because they’re the professionals mostly responsible for criminalizing people building their own buildings.

[@gcod3d161]

More like most of the land is privately owned

[@Ask-a-Rocket-Scientist]

I built my own home in a city. It can be done if you have the drive.

[@PNW-Mochi]

@@gcod3d161 There are lots of people who hoard land and never use or develop it. Take a scroll through a county assessor's website... it's annoying how much property some people own. Just because they got there first (were born first), they will buy everything they can and block anyone else.

[@tarajo4836]

Exactly!

[@Nar419]

When I was in real estate it became clear to me that in the states the only focus is getting commission for the realtor and selling houses quickly as well as prioritizing investors over everyone else I was absolutely appalled by it and left that greedy industry behind. Housing is a right not a privilege that’s truth and a house shouldnt primarily be an investment tool it should be a home first and foremost

[@Bonserak23]

Housing shouldn't be a luxury lol

[@mikey43221]

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

[@SteveDutton-v]

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

[@PASCALDAB]

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

[@jimmieclark4638]

Your government is always in things they shouldn’t be Our government is made to screw is

[@SaLvAdOriaN127]

It depends if you’re ready to buy. 20% down payment + closing costs. Once that is out of the way can you comfortably afford P&I, property taxes, HO insurance, and utilities? I also recommend having saved 6months worth of bills and 20K for repairs bc something will break in the first 5yrs of home ownership. On the other hand, a market correction is coming. With that said, it doesn’t mean homes will plummet like in 2003 or 2008. The demand will still be there with lower interest rates, so we will still see the same competitiveness to buy homes, but at more reasonable prices.

[@janpapaj1982]

you may be in for a stock market correction first with that strategy :)

[@bravehats]

Someone bought a house in my neighborhood in early 2020 for 412k, in 2021 he sold it for 675k. Now in 2023, the person that bought it for 675k in 2021 has put it up for sale again for 730K. So in 3 years, this house as increased by 318k. Abosultly not sustainable for the economy. Reducing interest rate is not the answer, it will only contribute to higher home prices. I'll rather interest rate stay between 6% to 8% for the next 10 years. This will gradually reset the market to normal levels, because it will force sellers to keep cutting prices.

[@frenchonion4595]

Yep, higher interest rates make for more responsible buying. When interest is low everyone wants to get into the market many of which cannot realistically afford that home. This also drives up more competition between buyers raising housing costs. The federal reserve caused this.

[@angaleejones]

And that increases the taxes for everyone in the neighborhoods.

[@vancedthobehill8048]

@French onion higher interest rates just hurt home owners not resellers or large firms who RENT ONLY. An extra $400($1000 to $1400) in payments for people living near paycheck to paycheck might mean an extra job. For a flipper or reseller they won't ever see that price cause all they will do is just relist the home for 25% more than purchase price. The landlord "buyer/owner" is already charging 3x the original mortgage price as they turned the single family home into a duplex and rents it for $1500 to two individuals a month.

[@frenchonion4595]

@@vancedthobehill8048 I don't about apartments I know it's outrageous though. I was talking more home buyer. Low interest gets people in a lot of debt. Higher rates encourage saving and making a larger down payment on a house. With COVID it got a lot harder to save though. The banks should have never been bailed out now they are running rampant putting everyone in debt. They prey more on real estate because a lot of industry got off shored over the years now most of the money to be made is in real state not loaning companies money.

[@karlabritfeld7104]

This countries economy will collapse.

[@priceless55]

Stop investors from buying all single family homes. .....

[@yuriydee]

Stop single family homes from being built so numerously the first place!

[@DwDw-ew1wy]

Someone’s got to prop up the housing market

[@arios1977]

@@DwDw-ew1wyyeah. People that actually want to buy a home to live in.

[@wandasanchez551]

The dream to own a home is just that. A dream. My credit score had nothing to do with it. Mine is excellent at 801. Everything in my area sells for $750.000 for a condo and upward. Single family homes are one million and upward. I can only qualify for a lone for $230,000. There is no such thing as a home for $230,000 in my area. Rents are sky high.

[@annabellelee4535]

Why don't you move to a more affordable area?

[@camcommute]

Stop complaining and move elsewhere.

[@TommyRosati]

@@camcommute You beat me to the punch here too! That's what I did. I moved from San Diego to Va Bch in 1997. Bought my first house in 1998. 🤷‍♂

[@jimmyday9536]

Maybe you should consider a less expensive area. Just sayin.....

[@adamr.kalucki4347]

Guessing this has to be either nyc or Los Angeles? Only qualify for a $250,000 loan? What’s your income?

[@reginaldmorton2162]

I know a friend who purchased a condo in Oakland, CA. She paid the mortgage for 20 years, always on time, never late. 2 years ago, she missed 1 payment, and the bank immediately foreclosed her home and kicked her out. Today, it's back on the market for double its value. It's not a housing market, it's just legal thievery.

[@amirperrymusic]

It’s something she’s not telling you. The foreclosure process takes a long time. There’s no way she was kicked out in one month.

[@haileyguldin]

I work in foreclosed for a back, sometimes it can take up to a year to foreclose on a house.

[@bitterswtmocha149]

maybe she had one of those contracts they mention in the video where you’re actually renting until the full 30 yr period is up and not building equity

[@ChrisVink-b5b]

@@bitterswtmocha149 I have never heard of a 30 year rental contract.

[@willdazey7368]

In my experience, one of the worst things about the housing market are all the real estate companies buying up cheap houses and flipping them for insane profits. I look at the price history of all these homes that I am interested in and keep seeing real estate companies buying up homes, only to relist them 6 months later at twice the price! It should be criminal to do this. They go to the auctions, they know what's on the market. They are already positioned to be the first person there to buy the house with cash on the spot. Then, they do nothing to renovate, they just add $100k to the price they paid! They can even sit on the house for a couple years cause property tax doesn't even compare with the eventual payout they will get for selling.

[@PhilMoskowitz]

Then when there's a downturn houses can be brought on the cheap. Also if investors weren't in the equation then builders would build fewer homes. There's more to just one side of things. You can't rig the system to reap all the benefits and none of the risk and costs.

[@willdazey7368]

@@PhilMoskowitz "bought on the cheap" is an interesting notion. In my experience, prices on homes only ever go up. Also, land, especially desirable land, is a limited quantity. Just building more houses out in the middle of nowhere doesn't solve anything, even though the supply has risen. The Chinese learned that the hard way

[@WalterLeeHamptonII]

@@willdazey7368 home prices do go down......be patient.....and BE READY!! cash is king!

[@LucasFernandez-fk8se]

@@willdazey7368they literally went down 15 years ago and are in the process of crashing again. They’re down 11% since June and will continue falling

[@kamilareeder1493]

I have a degree in technical theater, ive laid my share of drywall, plaster and paint, and a LOT of these houses are still cheaply made in spite of the cost imo. They fix things like walls, faucets and paint but the plumbing and wiring won't have been touched or inspected for years. nyc is cracking down on old/bad gas systems in building and TON of building are gonna have to gut the piping while people still live there due to maybe decades of being under code 🤷‍♂️ To double to rent or cost of the house, you need to do a full HVAC refit or kitchen/bath remodeling for that to really be worth it imo Most people could've done that other stuff themselves for about 200$ worth of supplies and like a short day of work lol 😆 🙃

[@ILWU4Ever2024]

It seems to me that greed out performs compassion in the U.S.A. Sucks.

[@michaelm1573]

It's happening in other countries like Canada stop bashing USA.

[@adamr.kalucki4347]

It is about the money in every single country.

[@scott2228]

Don’t let corporations buy Single Family Homes only to convert to rentals. Homes need to go back to being a commodity not and investment portfolio.

[@hmm..hmm..]

Seriously.. if they wanna play monopoly they can play the board game

[@danielkosciuszko9788]

That and the NIMBYs who prevent developers from building apartment buildings

[@d0ntcare]

This. There should be legislation introduced to ban corporations from owning single family homes. There's nothing quite like being outbid on a house by the investment firm that holds your retirement account.

[@scott2228]

@@d0ntcare yep. I’ve been in the mortgage industry over 20 years and this practice disgusts me. I’m fine with people owning a few homes for investment (as an individual not a business, LLC….etc) but at some point it needs a cap. Then, after that, make it so if u want more homes u have to build new ones. This way ur at least adding to the market vs taking away.

[@That-Guy_]

Absolutely

[@simonbad]

My advice to new investors buy good companies stocks and hold them as long as they are good companies. Just do this and ignore the forecasts and market views which are at best entertaining but completely useless. I’ve only ever saved($510,000), never invested but want to start.

[@IrenaDolinsek]

My portfolio has good companies, however it has been stalling since last year. I have approximately $200k stagnant in my reserve that needs growth.

[@AstaKristjan]

@@IrenaDolinsek As with any big financial decision , it’s important to keep your guard’s up for economic risks. However, smart planning ,time management and seeking advise from a financial adviser can help keep you and your money safe.

[@Erinmills98]

@@AstaKristjan Absolutely, I agree, and the markets are currently in a frenzy. The greatest time to observe them, learn more about them, and take advantage of opportunities to strike is now. My F.A, "Kathleen Yanelli Carole," who has witnessed hundreds of market cycles over the past three decades, taught me this. She has an intuitive understanding of how things move, why they move, and what will happen next.

[@LarsBergstrom-uh2eu]

@@Erinmills98 Mind if I ask you to recommend how to reach this particular coach you using their service? Seems you've figured it all out unlike the rest of us.

[@Erinmills98]

@@LarsBergstrom-uh2eu Most likely, you can find her basic information online you are welcome to do further study.

[@izzyjimz]

Redfin and Zillow caused the value of homes to skyrocket in Colorado! The bought up thousands of properties over asking. They also caused a shortage of homes. It was a nightmare trying to buy a house in 2021. The houses we looked at were under contract before we left the house tour.

[@Hollywood041]

Answer: Private Equity. Instead of a Housing being your home it became an Asset. That is what made you want to constantly evaluate it's value and projecting when the best time to sell is/was.

[@willardSpirit]

Talked to a boomer coworker about why us young cant afford homes and staying at home (her kids too who are younger than me) mentioned most of these points and it's different than her generation but still say we're all lazy 🤦

[@Sonofawildanimal]

That’s a boomer fact

[@sluntcayer7521]

She’s not wrong. Aren’t you watching this video

[@Sonofawildanimal]

Damn lazy people and their lazy ways

[@TheMosinCrate]

I mean it's true.. Most Gen Z want to be a professional youtuber or gamer on twitch.. When I was a kid(I'm in my early 30s), kids wanted to be an NBA player or a singer until they became 18 and realized that wasn't realistic.. The problem is gen z is approaching 18 and they're doubling down on limited work for a lot of return. Doesn't work that way..

[@_CoachW]

Keep in mind before they were called the Boomers, they were called the 'Me' Generation. Seriously, you can verify it. It's only after they took financial control did they get to relabel themselves. Now we have too many taking out of the system and not putting back in. If it makes you feel any better, once they start dying your generation will finally be able to make the needed changes. I know it's not nice to say... doesn't make it any less true

[@pirtl_turtl]

There's so many factors that contribute to this issue. Antiquated zoning laws, NIMBYism, inflation, stagnant wages, social pressures of having the "American Dream Home", greedy investors, and more This issue of house affordability can be fixed and everyone can benefit, but the problem is it's going to come at some expense of people who already "got theirs". And U.S. Americans have shown they would rather risk the whole system crumbling than accept a solution that impacts them negatively in any way, even if it may be a net benefit for them and the U.S as a whole.

[@jaad9848]

If you very heavily taxed any profit from real estate assets the vast majority of those issues wouldnt be there. There wouldnt be greedy investors because the profit would just not be there, zoning would be looser because there wouldnt be profit incentives to create zoning laws. What I suggested will never happen though

[@hippocleides7105]

@J Aad Yeah you've hit the nail on the head. The key is you shouldn't be rewarded for owning real estate more than stocks. It's basically a strictly better asset class right now because of the lack of taxation.

[@nomoreDietCoke]

USA needs to look at Sweden without everyone being deathly terrified of “socialism”. The USA is becoming a third world country.

[@lineage13]

Building permits make Americans homeless...

[@lillyho2635]

No one addresses the real cause of the issue. Why do people just keep saying Americans need more affordable housing to be built while there are more than 15millions of them sitting in vacant? Which interest groups own them? No one addresses the issue of how the real estate industry is so screwed up because of those developers like mafia 45, real estate & loan industries, and other businessmen that those interest groups handpick and install into local & state governments around the country to benefit them more. Only those who control the market can create multiple layers of debts by their own actions before delivering those to the lowest chain of consumers. The lowest chain of real consumers are the only ones who have to live with high costs. This channel created this segment to give credit to the Bush administration or what? They obviously don't understand the catastrophe behind his plan. It's so scary!

[@calfland79]

In the pandemic, BlackRock bought almost all non-luxury houses around my neighborhood. They rented them out. They are waiting for a good price to sell them out now. People really needing a house cannot afford it anymore. Heavy tax on house investors. That's the only choice to make house affordable again.

[@XOPOIIIO]

It was affordable in 2009, remember? The only choice is to accept market rules. Where's the demand there's the supply, housebuilding is all time high, it's just a matter of time when price will drop again. There's always cycles and ups and downs, you can't make everything stable without extreme repercussions, Soviets tried.

[@jesse_-]

“I failed to become successful as I should, so the people with the means should be penalized.” Get out of here! If you do not like the United States, why don’t you go live in a nation that does exactly what you want the US to do? Oh wait, you will pay twice as much for a home in those nations. Besides Turkey, the United States still has by far the lowest home prices of all first world countries.

[@brandongroth4569]

If you tax owners for renting out properties, the only thing they are going to do is charge more to pay for that tax. You either have to cancel foreign investments in real estate and/or create a new zoning law that bans residential rentals. AirBnB has destroyed the housing market and in return is destroying the rental market too.

[@Eliastion]

@@brandongroth4569 I believe some good work could be done with property taxes. Basically - it should be cheap (free) to own a mid-sized house or a flat. It should be somewhat expensive to own several houses/flats. It should be prohibitively expensive to own several houses/flats with no tenants (renting, especially long-term, should remain profitable, but the first priority of the owner should be keeping his housing units occupied, with empty ones cutting into his margins in a way that makes affordable rental more profitable than "somebody will move in even at this price, eventually" rental). That's all very simplified, of course - a developer shouldn't be punished for unsold housing, for example, because that might give incentive to sell cheap but it would also increase the risks in the industry and we want people to see "safe money" in building housing, especially the affordable kind.

[@gamesguy]

Blackrock doesn't buy housing so you're full of crap.

[@letit023]

This need to become illegal for big corporations to buy up single family homes, this is becoming ridiculous how this is allowed

[@GrimdarkKing]

It’s not ridiculous at all. Imagine you were a black retired couple who had lived in their home for decades and now it’s time to seller and move to a 55 and up community. You have two offers. One is $210,000 and another is $225,000. The one for $225,000 is from a corporation. In your world this couple wouldn’t be allowed to accept the $225,000 offer and pocket another $15k as they retire. This is why your idea will never be allowed. People want to be able to sell their homes for the most money possible. They don’t care if it’s a corporation or a regular person. They want the money. And who is going to say the government should force them to accept less?

[@haroondaman7162]

They are instead building rows of new homes, renting all of them, and having HOAs that fine you for everything to keep making moeny

[@XxFuzzballxX]

One thing i can nitpick on this video is that one of the major reasons that people are unable to buy homes under 100k is because a huge majority of those homes are considered unlivable. Mortgages will not lend out to houses that are considered uninhabitable, that's why investors scoop them up to fix and flip. This applies mostly to major cities and the suburbs of major cities btw.

[@shawnbrian3850]

Facts

[@jessica92478]

They do, the mortgage is called a 203k and the uninhabitable house gets a mortgage with extra money to fix the home. It's a hard loan to do but it's available and can be done

[@mialuz6655]

Finally someone who has some facts and not drinking this propaganda of the evil corporations buying out pushing people out. CNBC is always Government housing propaganda.

[@vulpixelful]

Lenders will deny mortgage loans for livable houses below $100k. That was my budget before the price increase, and I got it eventually, for a livable home. But one mortgage lender turned me down because $100k was their minimum.

[@jessica92478]

@vulpixelful of course, depends on the lender. Our minimum is $50,000 mortgage loan.

[@FinancialShinanigan]

We rent not because we want to but because we're forced to

[@hw6271]

LandLORD is the least American profession out there

[@saagisharon8595]

@@hw6271 Is scalping a profession? One thing it's not is a productive service

[@saagisharon8595]

@user-pg4jw2qd3h Also the recipe for a demographic crisis but it's not our fault that no one wants us

[@singlefather01]

You are welcome to put up a tent in a middle of anywhere.

[@Skdjeis]

It’s because you make poor financial choices. You don’t make enough and you spend too much.

[@Josh-ge1cr]

I think the first step would be to prevent hedge funds from buying homes and artificially driving up prices. Next, investors who do have homes should be incentivized to fill homes instead of keep them vacant. Also, landlords should not be able to raise rents by over 10% a year, which only creates more homelessness and a broken housing system in the US.

[@Aerrow62]

Investment homes should be taxed at a progressive proprty tax rate.

[@nunyadambusiness3530]

More like no more than the rate of WAGE GROWTH. If wages aren't growing, rents should not go up.

[@rayw1979]

Sure property tax shouldn't go up ether. Also landlord should be able to evict shty tenants within 60 days.

[@jfausset]

I agree, but if you look at the investor share of the market, big companies are a small part. It is the mom and pop who own the bulk. It is each of us front running families to “invest”, only making that same family rent it from us for more.

[@Sogartar]

@Josh, what would be the consequences long-term of your proposed solutions? Except the vacancy rate reduction all else will cause underinvestment in construction of new buildings. The real culprit is the zoning regulations. No one wants to live in the middle of nowhere and creating new good cities is hard. Local government has too much power of deciding what you can do with your property. What everyone calls - "not in my back yard". Actually, it should be called "not in my neighbors' backyard". This is the most important supplyside restriction.

[@ConradGosling]

I suggest you offset your real estate and get into stocks, A recession as bad 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 advise but get buying, cash isn’t king at all in this time!

[@KingDavid-jj7tk]

You’re right! The current market might give opportunities to maximize profit, but in order to execute such effective transactions, you must be a skilled practitioner...

[@geraldantonio3160]

@@KingDavid-jj7tk -On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $150k since then...

[@stevensmiddlemass2072]

@@geraldantonio3160 I require direction so that I may recover my portfolio from the severe drops and develop stronger tactics. How do I get a hold of this advisor?

[@stevensmiddlemass2072]

@@geraldantonio3160 -I did check her out, I see why you said she's probably booked up, her creds/resumé is topnotch. I booked a consultation with her regardless....

[@joesphcu8975]

Many talk about the lack of liquidity in real estate as a “glitch.” I see it as a feature. It’s too easy to liquidate stock positions sometimes after reading a sensationalized headline, only to regret that decision soon after.

[@alexyoung3126]

I suggest you offset your real estate and get into stocks, A recession as bad 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 advise but get buying, cash isn’t king at all in this time!

[@checkforme234]

@@alexyoung3126 You’re right! The current market might give opportunities to maximize profit, but in order to execute such effective transactions, you must be a skilled practitioner.

[@lawerencemiller9720]

@@checkforme234 On the contrary, even if you’re not skilled, it is still possible to hire one. I am a project manager and my personal portfolio of approximately $750k took a big hit in April due to the crash. I quickly got in touch with a financial-planner that devised a defensive strategy to protect and profit from my portfolio this red season. I’ve made over $150k since then.

[@stephaniestella213]

I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them?

[@lawerencemiller9720]

Having a counselor is essential for portfolio diversification. My advisor is "Eileen Ruth Sparks" who is easily searchable and has extensive knowledge of the financial markets.

[@MrNavidad]

I said it in the last video and I'll say it again, investment firms and companies shouldn't be allowed to purchase and sit on homes, even if it's for rentals.

[@hw6271]

Investment firms, companies and foreign nationals. Add to that, second and third homes etc need to be heavily taxed in areas where housing is squeezed, so basically every city

[@NAUM1]

I don’t think you realize the secondary consequences.

[@jasoncrandall]

If true, it would damage the value of your home.

[@Skdjeis]

Don’t blame others for your own poor personal choices. If someone can’t save up the 3.5% down payment needed to buy a home, they are a bad person making bad choices - period.

[@MrNavidad]

@@Skdjeis not saying it's the down payment, I'm saying they take up the inventory and reduce what's then available for those looking to buy.

[@Mj-kb6ig]

After 08/09 we were sitting on huge amount of real estate. Allowing foriegn investors and big capital RIETS to buy it all up coupled with low rates for too is what got us here. There's only one real solution, and even Canada is addressing it. Regulate investors.

[@DevilFrog61]

The last thing I want is the government regulating my life more. It reminds me of the argument to raise taxes but the ultra wealthy are smart enough to avoid all taxes and so it always just ends up hurting the common person more. We use this logic for everything l it seems. Only ever hurts the little guy

[@avinashtyagi2]

@DevilFrog61 No you just need better taxation 99% marginal tax on all wealth above 1 billion

[@jameshorton3692]

You’re federal government and politicians on both sides hate you. Otherwise, foreign real estate investment would be banned.

[@Mj-kb6ig]

@DevilFrog61 meh. I rather they actually limit foreign investors and actually do something about that instead of continuing to give hand outs and subsidies. That, and actually let banks fails when they took on so much risk.

[@cryptodiscgolf2243]

While i agree, i think its too late for this market unless you force them all to sell lol, moving forward though would still be a good idea.

[@rhbarbs]

30 percent of buyers in Las Vegas were investors…Over valued properties in Las Vegas.it’s gotten ridiculous…New townhomes are not worth 470,000 for 1500 sq….Buyers and builders are in big trouble.They have came to realization that are not going to receive what they once received a year ago.Builders have become very greedy

[@clay6517]

Same things in Phoenix and both markets are declining fast

[@KSchism]

We hit 68% in Vancouver, WA. House on the corner is now an AirBnB. Owner has 9 other AirBnB properties is Portland metro.

[@Misaka-gt5yj]

I mean places like San Francisco are limited by zoning regulations thanks to the government. They literally cannot build new affordable housing and that screws with the supply while demand keeps increasing.

[@mojavewolf]

Who do you consider an investor? Assuming it's all non-owner occupants (which could include long-term rentals, short-term rentals and flippers), investors took an enormous beating in 2009, defaulting in large numbers and creating great opportunities for buyers from 2009 through about 2019 or so. It was a painful way to get back to equilibrium but it did. Unfortunately this time around new supply lagged for years. Right now both categories of rentals are, for the landlord, in a relative high spot but both are becoming more of a headache than they are worth. Long-term landlords have to screen much more aggressively and short-term ones face regulatory headwinds. Flipping has cooled considerably. The number of empty houses is rather low and curtailing investors right now would likely not change that. The only thing that would is more new housing or a ruinous economic event for the resort industry. Las Vegas suffers the same problem most growing markets (e.g., Phoenix, Denver, Dallas) currently do - there is much, much more demand than supply. Dump 150,000 new housing units on the market over the next 3 years (assuming there is enough water) and things will swing back to balance.

[@rhbarbs]

@@mojavewolf O non owner occupant.Corporation are also investing in the real estate market.Who do you think drives up the market.

[@davyannajones]

A bill for “first generation” home owners should never be passed. You would be rewarding people because their parents didn’t own a home & punishing others because their parents did. That’s ridiculous. It should be income based.

[@Sheil-hard]

Real Estate provides cashflow, tax benefits, equity building, competitive risk-adjusted returns, and inflation protection on its own. Whether you invest in physical properties or REITs, real estate may help you diversify your portfolio and reduce volatility. Dividends are what got me into investing in REITs, great way to secure the accumulate wealth, I hold AMT, CCI & PSA. $290k in profits made in 2022.

[@Oly_laura]

Consistently investing in high quality dividend paying REITs & companies over the long term is a relatively easy strategy to create generational wealth. My "boring" REITs portfolio paid me over $4,000 in dividends last month.

[@bob.weaver72]

It's time to make high value games! Discounted dividend stocks. Ever grateful to my CFP "Catherine Morrison Evan’’ I now have a six-figure REIT portfolio, which includes, but is not limited to; AMT, SPG & PSA.... I now have 606 shares of AMT which pays dividends of $3800 per year.

[@hermanramos7092]

@@bob.weaver72 I want to play the long term game with well diversified fund. Please how can i reach this CFP of yours?

[@bob.weaver72]

@@hermanramos7092 Most likely, you can find her basic information online; you are welcome to do further study.

[@hermanramos7092]

@@bob.weaver72 - [ ] Thanks for this tip. Her website popped up on the first page immediately I searched her, I read through her resume and it seems pretty tight. So, I dropped a message & hopefully she replies soon.

[@mrsjayrez2627]

Basic human necessities are for profit- that’s the problem period

[@Deloowix]

If basic human necessities are provided by the Govt for free, we’d all be doomed. That’s the problem period.

[@Skdjeis]

The problem is poor personal choices that lead to deserved results.

[@PNW-Mochi]

@@Skdjeis right... I'm sure that blanket statement has full merit and is applicable to the misfortune of everyone stuck in a rut. You get the genius award of empathy. 👏

[@Blaze6432]

@@Deloowix Maybe your you stupid yo think this but having something as a necessity doesn't mean it needs to be free, it just needs to be affordable. Further more education is a right and up to 12th grade is free, today the US has an extremely high literacy rate.

[@luiscontreras5500]

@@Deloowix who said anything about having the government giving us housing? People need to stop being greedy and the government needs to set controls to facilitate housing affordability. You are supposed to have 1/3 of your monthly paycheck for housing and we are seeing a 1 bedroom apartment go for $1800. That would mean that the individual needs to be making $5400 a month. Most people are not making that type of money. Before this inflation 1 bedrooms were around $900 to $1200 a month. Wages barely went up, but housing saw an astronomical jump. We will go through another market crash, thousands of people will have their credit ruined, and will be unable to even rent a home. Banks will be bailed out again and then we go through the same process again. Our streets are going to end up like that of California. I’m already seeing quite a bit of homeless where I live in south Florida. Add student loans, medical bills, day care,car loans, insurance payments, etc and it’s very easy to find yourself homeless.

[@sg8953]

I bought my house for $17k in 2014. At that time, you couldn't get a mortgage for less than $50k so there were entire neighborhoods of homes for less than $50k that no one could buy without cash. We even had neighborhoods where you could buy a 4 bedroom house for $3,500. Those were the homes people could actually afford. So what did the Fed do? Lowered the interest rates and let hedge funds and corps calling themselves banks have unlimited access to the discount window at near 0% interest. And now those companies own all the houses so the prices are now several times higher. In my neighborhood of under $20k homes in 2014, the least expensive home sold this year was $150k. I'm so tired of being hounded by investors trying to buy my house for $20k so they can flip it for $150k+. It's constant calling and mail. Close the discount window except to retail-only banks. Raise the rates and require any loan backed by taxpayers to have a 20% down payment, no exceptions. The prices will go back down to sustainable levels.

[@CL-yp1bs]

Wow I live in Oregon and the cheapest house you can find is 250k for little tiny houses.. most are 350-400k for a normal 3bd 2 bath house.

[@mida8261]

I live in Southern California. The cheapest house in the town I live in is $749,000 and it's not in the best part of town. $150K just sounds like a dream.

[@kevinpark86]

interesting. To build a small home nowadays cost us at least $50,000 minus pavement, land acquisition...labor cost account for about 60% now. not a good position to be homebuilder

[@Xeavone]

Damn, Wish I could find a 17k house in New Hampshire. The lowest you can get is 250k, most houses here are 500k, it's getting scarily close to 1m. When I was growing up in the early 2000's, the most expensive houses used to be 250k. My grandmother is retired and her house costs close to 1 million and she only has to pay a mortgage of $1,800.00 per month. For context, she is paying less on her mortgage, for a 1 million dollar home that's not even a mansion, and most people are renting for $2,500 to $3,000 a month in my state, sometimes even more than that for living in 700 square feet or less. Thankfully I'm doing work that will pay off my 100k in student loan debt, unfortunately, circumstances leave me with no choice, as a single, 29 year old woman, to live with my mother for a long while, and with how things are going, probably indefinitely, unless I find a significant other and they're well off, but I'm not counting on it and focusing on myself and my family. Even when I do pay off my debt, it's going to cost me more time to build money back up again to afford anything for a down payment. Something has to be done about this, otherwise, we're looking at younger generations being born into homelessness and poverty.

[@nerad1994]

17k?! Did you buy in Detroit?

[@quiet451]

Ban Air BnBs, limit the amount of homes a person can own to 2, restrict "flippers" and corporations from own SFHs.

[@davidr6865]

100% agree

[@andyhwell8419]

There's plenty of people who complain about housing affordability while at the same time, drive a $60k truck, have a motorcycle, spend money on video games, and excess pairs of shoes, and always have to have the latest new iPhone. This is why I don't think its an affordability problem. Its an education problem where people don't know how to prioritize their life.

[@coopsnz1]

Uneducated voting for more taxes

[@selenajack2036]

Great video! For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@adenmall7596]

A lot of folks have been going on about a January rally and said stocks that would be experiencing significant growth these festive season, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?

[@bsetdays6784]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@bsetdays6784]

@@hushbash2989 Having a counselor is essential for portfolio diversification. My advisor is Eleanor Annette Eckhaus who is easily searchable and has extensive knowledge of the financial markets.

[@roddywoods8130]

Thank you for the tip. It was simple to locate your handler; she appears to be very competent and adaptable. I scheduled a call with her

[@uog293]

Seems like they're doing a good job

[@kalfmanbrown5953]

Roughly £120k in my portfolio are in tech/TSLA stocks, can I get an advice on any other stocks that I can acquire to diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation.

[@darrenphilip247]

You need to hire a financial advisor to help you diversify your portfolio by including Mutual Funds, Etf's, the 11 GICS groups, inflation-indexed bonds, and stocks of companies with reliable cash flows rather than growth stocks, where prices were based on future prospective earnings.

[@finleysterling562]

@@darrenphilip247 That's correct. At first, I wasn't too pleased with my gains compared to my previous performances, I was doing so poorly, I thought I needed to diversify into better assets, so I got in touch with an investment-advisor. That same year, I pulled a net gain of £550k, which is about 10 times more than I average on.

[@kalfmanbrown5953]

@@finleysterling562 My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor

[@finleysterling562]

@@kalfmanbrown5953 Having a professional is essential for portfolio diversification. My advisor is "Trade with Ethan Grayson" who is easily searchable and has extensive knowledge of the financial markets.

[@kalfmanbrown5953]

@@finleysterling562 Thanks for this tip. His handle and website popped up on the first page immediately I searched Ethan’s name, I read through his resume and it seems pretty tight. So, I dropped a message & hopefully he replies soon.

[@ExxonMobilCompany]

Anyone have any idea which stocks may be experiencing major growth this new year season? A lot of people have been talking about a January bounce. I recently sold my Boca Grande, Florida, house, and I want to invest a lump sum before equities recover in the stock market. Is now a good time to buy or not?

[@robertlucas8288]

I was left holding worthless positions in the market in 2020 because to these market uncertainties, which is why I don't base my market assessments and decisions on rumors and hearsay. Before I started noticing any noticeable improvements in my portfolio, I had to fully redesign it with the assistance of an advisor; I've been working with the same advisor and have scaled up to 750k.

[@charlotteflair1043]

@@robertlucas8288 True, we’re only just an information away from amassing wealth, I know alto 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?

[@robertlucas8288]

@lucid480 She is Julie Anne Hoover, my consultant. Since then, she has devoted section and leave attention to safeguards that I have been keeping an eye out for. You can locate information about the chief online, on the off chance that you're interested. I made no regrets about substantially adhering to their exchange strategy.

[@joyful]

as long as corporations are able to buy homes strictly for resale, the market will never really balance out. everyone knows people need a place to live. people who are able to afford it, even when it stretches their budget too thin, will be forced to pay terribly high rents. such that they will not be able to purchase homes. it's hard for the average person to save when rent is about $2k/month.

[@larrywallace31]

To get a good mortgage. The household income have to be over 200,000.00, it’s hard for the working class to even save for the down payment for a home.

[@ryanra44]

It 100% should be illegal for corporations to own single family homes

[@Falconlibrary]

Short answer: rich people want it this way. Any questions?

[@Nathan-eq3zs]

So then get rich

[@johnbw2597]

@@Nathan-eq3zs They made that harder too. You need loans, they just explained loans are harder to get…..

[@Xeonerable]

Buy up all the land, don't build high density housing, force people to give up even more in order just to have shelter, block all public transportation attempts, make urban sprawl so bad that people must have cars to get to work, raise gas prices for your oil exec bros to get a cut (if they aren't the ones doing this in the first place) Capitalism is all about exploitation for max profit. And we're being forced into a modern debt-slavery system. Then CEOs are revered as gods in the media, basically turning into modern feudalism. No kings, just CEOs.

[@camcommute]

@@johnbw2597 there are many ways you can get a house without a bank loan. Save up cash, Seller financing, lease to own, shared ownership. Stop making excuses and go get yourself a house!

[@TommyRosati]

@@camcommute AMEN Brother!!

[@alexsteven.m6414]

After a nightmarish 2022, shell-shocked investors have losses to recoup and plenty to ponder, as an inflation report and a raft of other data did little to change expectations that the Federal Reserve would likely continue hiking intrest rates even if the economy slows down, Which means more red ink for portfolios for the first quarter of year 2023. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $250k bond/stocck portfolio

[@edelineguillet2121]

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

[@halselong4517]

@@edelineguillet2121 Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@davisholman8149]

This can all be connected to the shut down of the Keystone pipeline & American oil & gas permits, which would have lowered fuel costs for not only the USA - but the North America’s allies. Yes, we want to continue to support lowering use of fossil fuels, but to push for sources with many negative results, including forcing use of wind, solar, etc. is not going to work when so much industry still relies at least partially on oil & gas. Even Elon Musk understands the problems with lack of electrical grid availability & available mineral metal required to switch to non fossil fuel entities. The choice of administrations in Nov. 2020 has cost everyone dearly.🤷🏽‍♂🇺🇸✌🏽

[@joekim2172]

@@lolitashaniel2342 SHE SCAMS, SCAMMER

[@yolanderiche7476]

I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.

[@raidanbolt4844]

This show completely ignored the root cause, fiat currency. These always inflates faster over time until it collapses. Then fed gov spending money it doesn't have. Then giving it to people who didn't produce goods and services further increased demand thus more inflation. No wonder Amazon made a killing during the last couple of years. Over regulations by governments also increased costs to build houses, it's not like older homes are collapsing because of building standards. Lobbying by manufacturers on new products have increased regulations in the name of safety. And it goes on....

[@sammyp1556]

I was homeless for 3 years after leaving an abusive ex-husband that used litigation abuse to drag me through the court for 3.5 years. I prayed to God for provision with other believers around 2 years and 7 months homeless, and God gave me a job which allowed me to get housing.

[@pianoman47]

1. Build more houses. 2. Remove parking minimums, replace it with public transit.

[@LEORedSun]

in the 70s and 80s in New York City, an apartment's rent was about $200. Buying a house was not popular because it was so cheap to rent. Today, everyone is thinking about buying a property because it's so expensive to rent.

[@joelballard4955]

No foreign governments or individuals should be able to purchase land or homes in the USA. Massive corporations and hedge funds should not be allowed to purchase homes or land in the USA. The federal, state and city government should also not be allowed to purchase and own residential properties. Then we need to get rid of realtors and mortgage brokers to make way for a simple 20 page purchase agreement between both parties that is signed and recorded at a title company where the keys are transferred. That’s it. Fixed it.

[@tarajo4836]

Yep!! Agree 100%

[@mxbadboy263]

I could not agree more.

[@fwefhwe4232]

if you dont want foreign investors in USA then stop begging for $$$ from China and India. We are sick and tired of funding poor amrikkans at 0% interest rates. Thanks to our agent boe jiden, the 2023 economic crash will wipe out the wealth of USA and we wont have to export goods AND lend you $$ to buy those goods.

[@NevinMillan]

Agree with this! Except I don't think it's possible to 100% eliminate foreign home/land purchase due to many complex reasons. But I think instituting a cap on foreign land/home investments is doable. They will never do this though, sigh...

[@JoeMama-bk7rd]

But yet you keep voting in the same ones who put these laws in place

[@PoolGyall5441]

This is probably a problem in most countries but i'm only familiar with the USA's. And that is that we don't view housing as a basic human necessity but rather an investment. Housing continues to rise in desirable areas and decrease in areas becoming less desirable. A good example of this is the San Francisco Bay Area. Millions wanted to flock here to get a high paying job and live the American Dream and as housing became more scarce; houses that once went for 300k are now going for 1.1 million. Now as the SF Bay is being consumed with homelessness and poverty, and those high paying jobs are moving elsewhere; the value of homes are slowly but gradually decreasing. It really is a problem and eventually what's happening in California will happen in every state that becomes desirable like Texas and Colorado at the moment until we find a sustainable solution to the American Housing Market.

[@davidyolchuyev2905]

We don’t have this problem in Azerbaijan. A family of working two individuals can easily afford a house

[@mynock250]

Work harder, or buy a tent and live on skid row.

[@Sonofawildanimal]

FL is BOOMING

[@sew_gal7340]

Shelter is a basic right but not housing, you cannot put a gun to someones head and force them to build you a house. A house did not exist when humans first walked the earth; if housing was a right it would be legal to just take another persons home.

[@geovannyl.2801]

You’re exactly right. I live in the country side in Guatemala, people with higher incomes from the capital city are moving in and locals can’t afford a living anymore.

[@vadergrd]

Allow houses to be owned only by people , and not one person with 30 houses...

[@ariannamasonwright]

This, in my opinion, only emphasizes the importance of having an edge among investors, as simply playing the market like everyone else is insufficient. What are your thoughts? I've been hesitant to invest in the current market, but I also believe this is an excellent time to begin.

[@henryliam6037]

To me, the idea of using spreadsheets has always seemed excessively time-consuming and unnecessary. Simply put, I put a significant amount of money into my savings accounts each month, keep my spending money in another account, and try to spend as little as possible.

[@jessicalandon8973]

@@henryliam6037 I don't have a full-time job; instead, I'm self-employed with a variety of sources of income. Regardless of how much money I generate each month, I maintain the same budget and adhere to my means-tested lifestyle.

[@nobertheck]

@@jessicalandon8973 The markets are currently operating in full frenzy. Now is the best moment to keep an eye on them, learn more about them, and seize chances to strike. This is what my mentor Alice Elaine Hayhurst taught me. Over the past few decades, she has experienced numerous market cycles and has developed an instinctive grasp of how they operate, why they operate, and what will happen next.

[@nobertheck]

@@ethanxavier4507 It is possible to evaluate a decision's wisdom statistically. However, we don't actually do it every day. too challenging Simple stories are frequently horribly inaccurate, despite being plain and practical. According to the coach I'm working with, investing a lot of money in truly outstanding stocks is the only surefire way to feel affluent. It is that simple.

[@joekim2172]

@@nobertheck SHE SCAMMED ME

[@mikethemechanic7395]

My current house I paid 268k in 2004. It’s worth 506k. My neighborhood was a mix of high end Blue collar and White collar. The house across the street was purchased for 609k. The owners are a pharmacist and psychotherapist. It’s 3200 a month for the mortgage. Mine is 1450 for almost the same house. It’s insane. You have to have high wages to afford a house. The house next to me is a rental. The owners paid 1250 month. The renters pay 3100.

[@joenunez938]

My neighbor paid 10k for his. Inpaid 275k for mine. 🤷

[@nextfriiday]

There’s no more simple explanation than greed.

[@WhatIsThis-zq4hk]

An efficient market makes it impossible to be greedy. The rice market is incredibly efficient so no one can suddenly high prices by 50% because no one would buy from them. The housing market is incredibly inefficient so landlords can charge whatever they want and there are still people who pay it because there are few other options.

[@CurateHub]

The market is a no-called-strike game. You don’t have to swing at everything - you can wait for your pitch.”

[@philipcooper1636]

I want to agree. Waiting is a skill, too. Wait until the market is right to put your money. The risk you take deserves a corresponding reward and until you find a good opportunity, keep waiting..

[@CurateHub]

@Brett Atkinson Best thing is to dollar cost-average into index funds. But even so, I'm careful enough to do this at the call of my advisor. That is so far what has kept my portfolio afloat during these unpredictable days

[@CurateHub]

@Brett Atkinson I agree. I know some Advisors who won't meet benchmarks talk less of exceeding it. However, I believe the better part of the job is discovering a credible one. Rebecca S Rothstein for example is nothing but incredible. You may want to look her up with her names if you are looking to give the market a great shot.

[@Jebusmike3]

@@philipcooper1636 Dollar cost averaging into index funds is the way (the least you can do). Too bad the schools didn't tell us to start when we were 18, but alas, financial independence from the economy does not help the economy if everyone is financially independent from the economy. Unfortunately, it is exclusively up to parents to spill the beans. And even more unfortunately, the VAST majority of parents, let alone people in general, don't know themselves to tell their kids in the first place. The internet should change this eventually, ideally.

[@JaredMerlin]

I'd rather build a cottage in the woods and start living like our ancestors did. I am so fed up with this country and this housing BS. Every American should not only have a roof over there head but be able to afford it, PERIOD.

[@T13Nemo]

For me, the biggest issue is zoning - we must have a variety of houses, strong towns where you can live without a car. It'll open more opportunities and options, drive the price down. In terms of affordability, it's still hard for me to comprehend how someone who was born and got their first job in the US struggling with housing. We came here from a poor country and were able to buy a house in 4 years, starting completely from scratch.

[@SpiritualMinisterRealm]

Americans were programmed to buy into consuming products they don’t need. They borrow on credit. They also don’t teach people about economics, salary, and finances, etc….

[@annabellelee4535]

It's more bad credit and spotty work history that keeps people from getting a mortgage.

[@khrisstake2210]

People don't want to budget

[@saelri2010]

A lack of education about financial planning in the public education system, poorly regulated food/drug industry that contributes to health issues (and an insanely corrupt and expensive medical system), high requirements for securing a career-based job (expensive degrees even for entry level are commonly required), differing attitudes regarding how parents help their kids begin life (kicking out kids at 18 is common, versus other countries where it is common to stay with your family until you can afford to move out), there’s a lot of contributing factors as to why US-born people have issues getting in a position financially to save for a home.

[@T13Nemo]

​@@saelri2010 as if the rest of the world is better or doesn't have similar issues. Trust me, the US is fine. There are lots of things that can be better here. And it is up to us to make it a better place.

[@jessicamoore3093]

Residential real estate depends on the willingness of people to borrow for what’s typically the costliest purchase of their lives. As the Fed continually jacked up interest rates last year, the average rate on a 30-year fixed mortgage topped 7% last fall - more than double where it began 2022 - before dropping back slightly.I'm still at a crossroads deciding if to liquidate my $338k stock portfolio, what’s the best way to take advantage of this bear market?

[@alexyoung3126]

That’s right! Downturns provide plenty of opportunities for regular people to build wealth from the scratch. However, you may need to get some professional advice from an Invest-ment planner if you need an aggressive return.

[@joesphcu8975]

Recessions are where millionaires are created. After my port_folio took a big hit in April, I was forced to employ the services of an Invest-ment-analyst who has not only accrued a profit of $250k for me since then but has also taught me how.

[@lawerencemiller9720]

Please can you leave the info of your invstment analyst here? I overheard someone talking about how a couple made $200k during this red season. I need such luck lol

[@joesphcu8975]

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[@lawerencemiller9720]

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[@sakurakos88]

Greed, greed and greed the reason why all this happens. I will rent forever, owning a house in the USA is a joke now for those who are poorer.

[@zurimyres5660]

Facts , I still wrestle with owning any property here . I’ll rather live outside of USA completely . The prices of theses homes doesn’t even equate value .

[@toddfarkman2177]

There is new housing, but it's ridiculously expensive. I saw a new construction house for $750,000 in a neighborhood of $300,000 houses. In my neighborhood, average homes are around $150-200,000, new construction is selling for over $350,000. Same small lots, next to cheaper houses, for ridiculous prices. These construction companies' figure, "we can pay $100K to build a $200K house or pay $200K to build an $800K house". There's no incentive to build low-end housing. People just need to work together. Go back and live with your family. Move in with your friends. DO NOT RENT as you're throwing money away.

[@SouthsideHardhead601]

They're starting to make it illegal to live with anyone who isn't a relative now😂

[@paulbong4845]

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[@LenaGomes278]

My portfolio has good companies, however it has been stalling this year I have approximately $600k stagnant in my reserve that need growth.

[@Eliabe_Santos]

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[@HeidiNewsom]

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[@thatwasinteresting3319]

They also didn't discuss here the cost of high property taxes on houses. Here in Illinois your property taxes could go higher than the mortgage. In the city of Chicago they just raised the property taxes and it is adversely affecting the poorer communities. There was a story of a retired lady in the city and her house was valued at around 125k and her property taxes went from 2k to 5600 this year. That is not sustainable and will only get worse

[@philmarsh7723]

Property taxes should be banned on a national level and replaced with local income and sales taxes.

[@Cahluvca]

High property tax states are a no go

[@sunlight4169]

Florida used to be a place that one could retire on a modest income. No more -for the majority of the state, it is only for the rich unless you want to live in blighted areas. Homeowners insurance is insane, let alone mortgage rates.

[@abyranni2565]

Chicago city is run by democrats. Ask the leaders why you want to make people life miserable.

[@camcommute]

Dam that's cheap. On a 150k home we are paying 8k in NY

[@GpOg-j3v]

Do one about Canada. It’s crazy how housing is insanely inflated.

[@viewtifullyvon6465]

At least you guys regulated foreign investors.

[@1MinuteFlipDoc]

cash only chinese buys! money laundering! LOL

[@alexguolo5872]

@@viewtifullyvon6465 less then 0.1% of home purchases lol

[@alexguolo5872]

​@@viewtifullyvon6465 just more fluff to distract. Blame foreigners. The new immigrants in Canada are forcing this housing crisis. Trudeau allows all immigrants to purchase homes

[@sirgeoh]

Making sure citizens have affordable housing, food, and energy should be the #1 priority of any politician. The fact that this has still not been resolved should tell you how broken we are due to greed.

[@ОгурецМолоко]

The reason why this has still not been resolved is because we didn't make anything to resolve this. Politicians do nothing unless they feel pressure from above or below. But when the only thing that people do is writing a comments on KZbin nothing changes

[@vmtl4659]

@@ОгурецМолоко or maybe is it because its benefiting alot of groups from the establishment ? Banks ? Politicians who own real estate ? Mortgage brokers ? Real estate agents ? The whole blood sucking industry ? 🤨

[@ОгурецМолоко]

@@vmtl4659 No, the question was (Why it's has not been resolved?) Because people did nothing to change anything, this is why. As long as people do nothing, the problem will remain.

[@ОгурецМолоко]

@@vmtl4659 As I wrote before (politicians do nothing unless they feel pressure from above or below)

[@werkdatdancefitness]

Ok just me. What about you become a politician and then solve this problem since it’s so easy. We as people love to talk so much about problems but rarely do any thing to solve them.

[@brbhave2p00p4]

Everything in the states is a *Business*

[@brianatippens3010]

And there you have it. This is the problem. Our hyper-capitalist society means everything is for sale, everything is commodified. We have a housing market, with plenty of homes available but hundreds of thousands of people living on the streets. It makes no sense. With capitalism, the most important thing is capital, not people. Capitalism needs to be heavily regulated and supplemented by generous social programs in order to work for everyone…otherwise it will always be a race to the bottom.

[@untouchable360x]

@@brianatippens3010 Try communism. I heard that worked out well.

[@anonymoususer4376]

@@brianatippens3010 we should help the homeless. but housing will always be viewed as a commodity. people who supply materials, construction crews, real estate agents, investors, etc. all need to see profit. no one should expect people to work for free and investors who finance the project to do it for free.

[@brianatippens3010]

@@untouchable360x communism has never been achieved anywhere, contrary to what American media and education would have you believe. Communism is a classless, moneyless, stateless society. Again, never been achieved…and once countries begin working towards it (socialism is a stepping stone to communism) the US and it’s allies jump in to overthrow their governments to ensure it fails or never takes root to begin with. This is how the US maintains it global hegemony, it’s wealth and its power, and protects the wealthy men and women in this country that own the largest corporations in the world. It’s why we’re always at war with or occupying some country somewhere. To quell the revolution and ensure capitalism keeps funneling wealth and resources to the top instead of out to the people! Communism is not the enemy here!

[@todoldtrafford]

@@brianatippens3010 the USA is already heavily regulated. We aren’t as economically free as some European countries. What we have are stupid regulations not lack of regulations. We have regulations that protect the rich not lack of regulation

[@itsyezterday6350]

A topic not being brought up is that fewer and fewer people are getting married which also means fewer duel income households

[@Vivaspecifico]

If you guys don't mention companies buying real estate, then the entire video is pointless and you guys are corporate lackeys.

[@Aerrow62]

What you need is not affordable housing but housing to be affordable. Building prison cells stacked up and charging half a million isn't better than pricing out proper housing units at starting prices of 2 million.

[@Aerrow62]

@Annie Mouse Just to be clear, I was referring to the shrinking size of median homes with absurd pricing and not actual prisons.

[@gregorysampson8759]

Or.. Or ... people can work real hard as soon as they turn 18. Learn some skills. SAVE their money. MARRY someone with yhe same values. CUT unnecessary expenses. And finally BUY that house they want with their money. That's it baby that's how it's done! Plumbers and landscapers make $80,000 a year. All it takes is work in one's life. Work work work that's where homeownership comes from.

[@Combatwhombat]

One massively ignored part of problem is that Landlords are not required to report good credit; but are happy to harm someone's credit for late or non-payment. This omission from the equation means that renters are not able to build their credit score by renting. And yup, you guessed it, that serves to ensure that rental demand will not decline. Were they required to report, renters would build credit rating and be able to get approved for mortgages; slowly reducing rental demand. After all if there were a record of you paying rent at or above the cost of a mortgage on your credit score, it'd be a bit harder to deny. Another problem is highlighted when someone says "home builders can't build affordable housing for a profit." It's a bold faced lie. The truth is that they're not allowed to. Housing codes restricting anything but Single Family Homes (literally 70%+ of all coded land) don't stop there; they have minimum square footage requirements and minimum standoff distances which limit the number of homes that can be built per sq/mi. They include minimum parking requirements and many other things that increase the bottom end cost of building a 'legally compliant' home to the zoning. These requirements that any new home must meet become the ever rising baseline cost. If the rules lock down how many homes they can build in a given space, the individual houses must overcome this expense to make a profit. If more houses could be built by smaller lateral standoffs or even townhouses sharing walls for example, the baseline cost is reduced per unit and profitability remains. To boot, supply increases don't work on their own. Current inventory of new houses for sale in all states of construction in the US has ballooned beyond 470,000 houses. A number not seen since 2008. Let me repeat that. 2008. Across the industry as pricing is too high and financing too expensive, individual buyers are abandoning contracts in droves. US Home Builders have pitched at least 40,000 new houses to corporate rental operators in an effort to reduce supply, but they too are unwilling to buy, expecting Home Builders to eventually get desperate and offer massive discounts. Although home prices have cooled for the last months, with prices now 3.2% down from June’s high, the pricing adjustment hasn’t been enough to overcome the rising interest rates; "resulting in a stark reduction in demand." R1 (nimby) zoning has forced builders to build to a specific market demand that isn't a reasonable purchase for most people, a demand that simply doesn't exist to the same extent in a 5-7% interest rate environment. But, housing demand is still there. It's just not demand for half million dollar homes when the average individual income is $37k/yr. When there is no room for real competition in the market, laws and regulations pick winners and losers. These regulations (and omissions) are picking who's allowed onto the property ladder. And perhaps the most ignored is that pesky "household income." The cost of a home in the early 60s, when only 25% of households had two or more earners, came out to about 5x the median INDIVIDUAL salary. Today, the same comparison requires looking at HOUSEHOLD income. Pricing today's median house at ~5.7x the median dual-income household, now 75% of households. Effectively requiring marriage to gain access to the wealth building aspect of property ownership. While the overall home ownership rate basically hasn't changed since 1985 (64.5% to 63.5%), 78.2% married couples own, but represent just 40% of the US (62m married households or 124m/311m.) Married couples represent 62% of home sales, Single women follow at 20% (at an average age range of 46-72 where probability points to divorced), and single men trail with just 6%. "Other," which pretty much counts civil unions and unrecognized couples at 2%. Equal opportunity? My eye. Gee, I wonder who's adamantly opposed to the expansion of the legal definition of marriage; oh, the people that think you deserve to be poor if you don't align with their values. Go to any of your local zoning meetings and see exactly who they are. Listen to their concerns about the "character of *their* community", "traffic burdens", and "*their* property values" when they oppose changes to NEW housing that reduce the cost or the addition of high density housing like apartments. See how they try to push 'the poor' further and further away from them. Laugh as they complain about a lack of workers willing to take minimum wage jobs where they can't afford to live or where the cost of living combined with their commute exceed sense. Recognize how their thinly veiled classism is also racism.

[@tarajo4836]

Well said!

[@robertplant2059]

I read your 1st sentence and saw the flaw in the argument too early to continue to read. It is assumed paying for something as important and basic as rent should be a given, and only if you are not able to meet the criteria, will it become a factor. Your position is similar to "I take care of my kids". Trying to get credit for something you should be doing. One massively ignored part of problem is that Landlords are not required to report good credit

[@Combatwhombat]

@@robertplant2059 if that is the case, then no-one should build credit for paying their mortgage. Ergo, you're the one presenting the logical fallacy. You build credit by maintaining your financial commitments; a rental agreement is such a commitment. So too is that utility bill, the mobile phone contract, that credit card, and so on. Anything to the contrary is an argument to the effect of "it should work for me but not for thee," especially such an argument that says 'fulfilling my financial responsibility should result in proof of my credit worthiness, but yours should not' as the one you just put forth. You should keep reading.

[@adrianprieto6111]

I got to chime in. If your credit gets punished for missing rent, the logic should be you build credit for paying on time. The market has changed each decade. Legislation needs to be made to protect newer generation, or else, even the families who have houses, their kids won't be able to buy anything unless they stay with their parents and save up or inherit.

[@davidsmyth6822]

Who are you talking about in your last paragraph?

[@masterdune2834]

I spent the last 2 years saving up 20% downpayment for a reasonable house. Then interest rates hit and rerunning numbers I have to save up an additional 20% totaling 40% down and still monthly payment would be 300$/month higher. It makes a person feel defeated.

[@blackmaster999]

Affordable housing is not possible in countries where the price of housing is expensive. If the government should build cheap houses it would reduce the demand for existing expensive houses which would make it impossible for banks and investors to get back their money used to build those houses, leading to a recession.

[@jaad9848]

This is super simple. Thinking of a home as an "investment" is directly incompatible with something that isnt a rare commodity. If the government taxed heavily all profit on housing assets then housing would NOT be an investment and homeownership would become more prevalent as cost came back down to earth. Obviously the government would never do that so the housing market will forever be flawed by design.

[@dactylogram82]

It never ceases to amaze me how much the mainstream media is willing to dance around the real issue of housing market volatility; that we had a bubble during the pandemic years due to low interest rates and now we're in a correcting crash.

[@emilyfeagin2673]

Real Estate is hyper-local You may have a “ crash” where you are but homes here are still in multiple offer situations

[@Talkwithtina808]

I have to leave America 😔This is not it!! I’m a US citizen born in Washington DC to Jamaican parents and I hold one of the strongest passport in the world 🇺🇸 and with that nothing can stop me. I’m out 🙌🏾

[@eaglewing1415]

Bye

[@jameslongstaff2762]

We need to build more housing that's smaller and closer together. In my city, there's very little option to buy affordable housing because we've been building housing that's too big and takes up a lot of space for so many years.

[@_carlisto_]

suburbs and detached single-family homes really are a big part of the problem.

[@nancienordwick4169]

Every child deserves a home with a yard and a dog!

[@JLT3]

like every rich liberal city that opposes this ...NIMBY

[@beardbot]

@@JLT3 If you think it's just "liberal" cities, your an idiot.

[@fuzzyduck1989]

@@_carlisto_ Corrupt politicians and globalists who want everyone to be crammed into cities are the big problem.... That way they can control you better... Most co-op buildings here in New york are grimy, infested with pests and the have RULES. Do you know that during the pandemic you were not allowed to have guests come to your apartment even though you own your unit?? Not to mention about the typical co-op rules such as obligating you to have a carpet (noise), cannot alter anything in your unit without approval etc... A detached single-family home in the suburbs is the American dream basically and the ideal setting to raise a family...

[@alexismarotte2680]

Honestly, finding Dave Ramsey's Financial Peace years ago set me and my husband up to be much better. We lived the first few years of our marriage incredibly frugally in order out get out of debt and learn to love and live on a budget. Honestly, that whole experience gave us the confidence we needed to know that we can get one day be homeowners. We know other couples who aren't on the same page with money and it's the #1 reason they stay broke--one person trying to save while the other is just spending. Our "dream home" is a "debt free home".

[@RealWestCider]

Mortgage is not the big problem, big problem is the rich rich rich using their wealth to buy up all the properties, raising prices to Infinity for profit. Housing should be a “right” you said? Stop them from doing that and free up the supplies!

[@Nathan-eq3zs]

No more government intervention. I'm not willing to give up any more freedoms because you're too lazy to get a damn clue

[@NamelessProducts]

They're a symptom not the problem. They wouldn't have the incentive if we didn't make housing so precious and rare. kzbin.info/www/bejne/bIC9e3aiiMmNaJo

[@adamr.kalucki4347]

A poor person who pays rent will always remain poor.

[@NamelessProducts]

@@adamr.kalucki4347 This is unequivocally untrue. It really depends on your situation.

[@lindakingsley9486]

How about blocking the big corporate cash buyers and investors who want to do vacation renting instead of long term renting at a reasonable price.

[@karlabritfeld7104]

That's illegal

[@pizzagroom6221]

@@karlabritfeld7104 Maybe the companies should build their own vacation homes, like how a hotel has to build the rooms it want's to rent to vacationers.

[@lindakingsley9486]

@@karlabritfeld7104 Time to make it legal so the young can have starter homes and the old can have a dignified final home. Its ok with the rich to steal our homes for stability to start a family or to enjoy the end of life. I do not get my social security raises. They go to the rich corporate land owner who steals the food out of my mouth. I have a roof that is somewhat ok and I can eat to a point and that's it. There is no travel or friends or enjoying anything. Its just existence. But, the rich want me dead so they can steal all of my social security and that's ok with you. Am I correct on that????

[@FLAC2023]

By the time you pay off the house you paid it three times!

[@SolarPowerMyRV]

Exactly

[@laraantipova389]

But that money is also worth a lot less. So like yeah you paid 3X but the money has devalued so much by the end because of inflation.

[@FLAC2023]

@@laraantipova389 yes, correct, but some of that money could have been invested to develop long lasting wealth...houses require lots of maintenance...in the end you are losing lots of money anyway

[@laraantipova389]

@@FLAC2023 houses cost lots of money probably 1-2% in maintenance per year, and taxes, payment, insurance, association fees etc. but rent tends to go up with inflation. A home is usually bigger and homeowners feel the need to improve the community, while renters don’t (according to all the studies, I am aware you may not follow this pattern please don’t tell me that, the point is that is a theme). The real problem is the equity firms snapping up every affordable house so even nice, reasonable, married couples can’t afford a house. There should really be some kind of disincentive after your 3rd house. It’s a serious problem. We had a new subdivision being built with 500 homes about 2500 square feet each. These would be relatively affordable homes at 350+ (with the average home costing around 500k) an equity firm offered the contractor to buy all 500 homes. I am not against renting, but there is also something wrong when buyers can’t buy homes.

[@elterco7]

US homes are so expensive because the FHFA sets the Conforming Loan limit so high, period. 70% of all loans are purchased by Fannie and Freddie, and those organizations are not allowed to purchase home loans above those limits. Had FHFA frozen Conforming Loan limits at 2019 levels, every zip code in the United States would have affordable home prices for most residents. Any other explanation for the high home prices is, quite frankly, BS.

[@jpm000001]

Houses should not be an investment tool. Corporation should not be allowed to own them. Foreign investors should not be allowed to own houses. Boomers do not need five houses for investment.

[@tomweis1194]

Greed greed greed. It all boils down to greed. Making tons of money is all contractors, realtors, and banks care about.

[@SpiritSoPoetic]

You know why this is a problem now.. because it’s affecting everybody and not just the “disenfranchised” .. it’s spilling over and now it’s a problem

[@jlpack62]

As long as all decisions are market driven, we will never solve affordability for everyone.

[@chicagoan81]

Too many wealthy people and corporations are involved in real estate than ever before. No way will anything be done to alleviate those wanting to buy a home

[@Mistro07]

Yea because the government will bring down housing costs through regulation right??? Haha keep telling yourself that..

[@CarbrainEd]

US zoning regulations and minimum parking requirements are not market driven at all. The elephant in the room is that single-family houses are expensive to build (and so is the land), so we need to legalize affordable multifamily housing again. Suburbia is one giant Ponzi scheme, not "free market"

[@eaglewing1415]

@@CarbrainEd You obviously don't own a home that would be devalued if a multifamily unit went up next door. You are willing to steal from current homeowners.

[@CarbrainEd]

@@eaglewing1415 no, I own an affordable condo in Europe just like a lot of my peers there. This sort of thing is completely out of reach for everyone my age here in California. It's people like you that are stealing the future of entire generations by enforcing your rules on those outside your property. America needs a landowners rights movement, bring back the good ole days of family business and multifamily housing. Or at least ditch property tax for a higher LVT

[@kimberlybanufong5423]

The bottom line in my opinion, dont allow homeowners to sell homes for much more than they are worth! Since covit, a house worth $100k is being put on the market for 400k and appraisels always go through. Greed is the real estate problem, along with bad or no laws or rules that are fair.

[@sw6118]

We have an over supply of luxury housing and its profit incentive is really hurting all of us.

[@Atlanta83]

The older I get the harder it is to buy a house.

[@Itwasme007]

Dont get to old before buying your home, Banks dont like lending to the old.

[@Atlanta83]

@@Itwasme007 really?!?

[@adamr.kalucki4347]

A poor person pays rent. An upper middle class person has people paying them rent and they use that rent money for bills and ultimately put into their retirement account.

[@nancienordwick4169]

Get rid of non human being ownership of homes. Regulate homes like any other necessary utility. No banks ownership. That's the problem. In 2008, after banks were rescued, then they stopped fire selling homes. That's the origin of this modern crisis. Homes are just equity to banks and investors. they love money and do not value home ownership.

[@JasonRamosNJ]

Hard to make the down payment, the closing costs, then paying to move in etc. Then you have to maintain the house, it can need a new roof, and other repairs. The bills are a big shock for many coming from rentals and there is just soo much that new home buyers do not know about how to maintain the home overall.

[@camcommute]

Well said. Many jus look at the 2k rent they are paying and comparing it to the 2k mortgage but fail to account for taxes, insurance, maintenance, cap ex, etc

[@joenunez938]

FHA loan?....

[@JasonRamosNJ]

@joenunez938 beyond any mortgage there is a lot to consider. Maintenance is often overlooked.

[@JasonRamosNJ]

@joenunez938 FHA has a lower barrier and pmi the lifetime of the loan. Still a significant outlay. Always be prepared!

[@joenunez938]

@@JasonRamosNJ Yes, I know. I'm just commenting on the 20% down.

[@6ahmad91]

You’re telling me these geniuses sat around a table for 30 years searching for an answer and they came up with “housing first”??? Curse that entire generation. Any 12 year old today would tell you that’s the answer. Bravo boomers

[@kak775]

Okay CNBC, you addressed the mortgage problem well but after that it fell apart. Nothing about NIMBYism, our over-expansion of "single family homes" how boomers rigged the market, or comprehensive solutions. No mention of an economic recession (likely a depression) and only half-assed solutions from the so-called "experts on homelessness." We end homelessness by giving people housing and jobs. If you are homeless, you do not even have an address. How do you apply for a job? How do you get off drugs? Do you even care to? In terms of housing there's so many vacant homes, but they're too expensive so they remain unoccupied or in an investor's possession. Such an ignorant mentality on this subject. All purpose in life is slowly fading and I guess we just can't figure it out.

[@KOforLiddell]

8:57 why is this information being presented as if it is bad? Don’t we want to avoid the lending practices that led to 08???

[@dumbcow1]

No, stop...feelings come first.... it's always someone else's fault...it's either predatory or it's cruel for not loaning.

[@Anthony-bo8ry]

Agree. Lowering borrowing standards is not the solution.

[@Skdjeis]

@@dumbcow1 exactly

[@davidtruelove5022]

It’s called predatory lending because they take advantage of buyers

[@tenshi.kurama]

It boggles my mind how any rental can cost more than an average mortgage payment. How is this allowed? Renting is supposed to be a temp so ppl can save money to buy that home later but they take everything and then some

[@anonymoususer4376]

if mortgage was less than rent, most people would buy. rent is typically always higher than owning.

[@AutumnGracy]

@@anonymoususer4376 Sam Vimes' Boots Theory of Economics

[@reesercliff]

@@anonymoususer4376 mortgage is always less than rent. How could you make a profit if it wasn't?

[@anonymoususer4376]

@@reesercliff maybe you're luckier than I am. I've owned over a dozen homes in 4 states in the past 30 years. Unless I paid cash, my mortgage and expenses were always initially higher than rent. I made my money on equity which could be massive over time or after 10 or so years when rent went up to the point I was turning a profit.

[@kimonadragon]

We’ve lived through periods of time when home prices and mortgage rates rise and many here are predicting it will go down. However in past periods housing demand was not where it sits now. Interest rates may return to pre-pandemic levels one day, but it’s still questionable whether home prices will follow due to this national demand. I’d love to see NBC explore who makes up these demand populations. Are they just US citizens and residents needing residential housing? I’ve seen Zillow and foreign investors for example competing and winning contracts left and right, shutting out families who need homes.

[@5rings16]

Families arent entitled to a home!

[@Pele87t]

Question for Americans. Why do you build such huge houses? 200+ sqm for a single family home? And why can't you live in apartment/condo building? In Europe we live in apartments mostly, apartment sizes 50-100sqm. I don't know why I would need an apartment/house which is 200+ sqm... Unless I had 10 children. Which we don't have in US/EU... I bought my one bedroom apartment, 50sqm, perfectly enough for my wife and myself... If we get kids, we will sell this one and buy 2bedroom apartment, around 60-70sqm. I wouldn't pay off my apartment/house for 30+ years, that's slavery. I will pay off my condo in 3 years total. Cheers from Europe!

[@doc7115]

Blaming mortgage cost being too high is just ridiculous. Even at today the cost is not historically considered high. The low mortgage cost in the last decade is exactly the reason that pushed us into this affordability crisis.

[@steve0szymanski]

It's too damn expensive and that's before you even consider mortgages and interest rates. We have an affordable housing crisis in this country, and it's only going to get worse because the government doesn't give builders incentives for building non-luxury housing.