Do NOT Buy a Home in 2024 Without Watching This Video!
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- čas přidán 24. 07. 2024
- Every year, my clients, colleagues, friends, and family ALL ask: what do you think is going to happen to the real estate market next year? So, I decided to make this video, breaking down my 8 predictions for the housing market in 2024.
Timestamps:
0:00 Introduction | My 8 Predictions for 2024
0:50 Prediction 1: Bifurcated Markets
2:00 Prediction 2: National Searches
3:27 Prediction 3: The Rise of Subrubs
4:44 Prediction 4: Branded Residences
5:25 Prediction 5: Shift in "Downtown"
6:54 Prediction 6: Bearish Investing
8:28 Prediction 7: Price Increases
9:47 Prediction 8: Stable Interest Rates
11:08 Outro | Preparing for 2024
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Ryan Serhant is one of the most successful and well-known real estate brokers in the world. After a decade leading one of New York City’s top-ranked real estate teams, he founded SERHANT., the first brokerage designed for the marketplace of tomorrow. In addition, Ryan is an entrepreneur, producer, public speaker, bestselling author, and star of multiple TV shows.
SERHANT. Studios is an in-house marketing arm and production company for Ryan's real estate and television endeavors. To date, content produced by SERHANT. Studios averages over 100 million impressions per month. The media arm has helped grow SERHANT. into the most-followed real estate brand in the world through Ryan's CZcams channel, the Facebook Watch show Unlocked, and the first-of-its-kind real estate media network, LISTED.
fear a housing crash due to people buying homes above asking prices with little equity. If prices drop, affordability and potential foreclosures may arise, worsened by future layoffs and rising living costs. I want to invest more than $300k, but I'm not sure on how to mitigate risk.
Consider reallocating from real estate to other reliable investments like stock, crypto or precious metals . Severe recessions offer market buying opportunities with caution, as volatility can yield short-term trading prospects. Not financial advice, but it may be wise to invest, as cash isn't ideal in this period.
I've remained in touch with a financial analyst since the start of my business. Amid today's dynamic market, the key difficulty is pinpointing the right time to buy or sell when dealing with trending stocks - a seemingly simple task but challenging in reality. My portfolio has grown by more than 5 figures within just a year, and i have entrusted my advisor with the task of determining entry and exit points.
nice! once you hit a big milestone, the next comes easier.. who is your advisor please, if you don't mind me asking?
My CFA ’Margaret Johnson Arndt’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her.
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.
I suggest you offset your real estate and get into stocks, A recession as bad as it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short-time buy and sell opportunities too. This is not financial advice but get buying, cash isn’t king at all at this time!
You are right! I’ve diversified my 350K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $730k in net profit across high dividend yield stocks, ETF and bonds.
I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is this investment-adviser that guides you?
When ‘Carol Vivian Constable’ is trading, there's no nonsense and no excuses. She wins the trade and you win. Take the loss, I promise she'll take one with you.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Personally, I can connect to that. When I began working with a fiduciary financial counsellor, my advantages were certain. I got into the market early 2019 and the constant downtrends and losses discouraged me so I sold off, got back in Dec 2021 this time with guidance Long story short, its been 2years now and I’ve gained over a million dollars following guidance from my investment adviser.
I definitely share your sentiment about these firms. When I was starting out, I checked out a couple of freelance investors online, so you could do the same. I personally work with “Stacie Lynn Winson”, and she's is widely recognized for her proficiency and expertise in the financial market. With a comprehensive knowledge of portfolio diversification, she is acknowledged as an authority in this field. Most likely, her deets can be found on the net, so you can confirm yourself.
Stacie has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
In order to buy cheaply, I'm waiting for a housing crisis after selling a few houses in 2020. I've been considering buying stocks as a fallback. Do you have any advice on when is the greatest time to make a purchase? On one hand, I continue to see and read about traders making more than $$$k per week. On the other hand, I constantly hear that the market is crazy and in the midst of a dead cat bounce. What causes this?
Most people are used to a bull market and can't manage a crash, but if you know how to navigate and where to look, you'll make a killing. It relies on your exit and entry plan.
It is true that the US stock market had been on its longest bull run ever, thus the widespread panic and frenzy is reasonable given that we are not used to such unstable markets. However, as you pointed out, there are possibilities accessible if you know where to search; in the past 10 months, I've made over $$$k, and it wasn't a difficult plan of action. Because I understood I needed a solid and reliable strategy to navigate better in these times, I hired a portfolio counsel.
@@hasede-lg9hj I tried researching new strategies to benefit in the current market because my portfolio has been in the sewer for the entire year, but whatever I tried to do just missed the point. Would you mind letting us know who your investment advisor is by name?
Vivian Carol Gioia is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
@@maryHenokNft 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.
Much credit goes to *Camille Alicia Garcia* for her significant contributions. She maintains an online presence, making it easy to locate her. While other advisors might pose challenges to find, Julia has proven to be an excellent mentor throughout the year.
After conducting an online search of her name, her website quickly surfaced, piquing my curiosity. The initial impression is positive and I intend to arrange a call with her. I'll make sure to provide you with updates on how it goes. Thank you.
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
Investing in both real estate and stocks can be prudent choices, particularly when backed by a robust trading strategy that can navigate you through prosperous periods.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Laurel profile appears to be fairly knowledgeable, therefore I must say that I value the advice. After locating her online, I thoroughly read through her resume, educational background, and qualifications, and I must say that they were quite impressive. We have set up a meeting after she replied to my message.
People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts.
buy now, home prices will not go lower. If rates drop, you can refinance
In my opinion, home prices will need to fall by at least 40% before the market normalizes. If you do not know whether to buy a house or not, it is best you seek guidance from a well-experienced advisor for proper portfolio allocation. So far, that’s how I’ve stayed afloat over 5 years now, amassing nearly $1m in return on investments.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
My advisor is 'Natalie Marie Tuttle'. In terms of portfolio diversity, she's a genius. You can glance her name up on the internet and verify her yourself. she has years of financial market experience
I checked Natalie Marie Tuttle up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
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?
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.
A lot of folks downplay the role of professionals until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for a licensed FA and came across someone of due diligence, helped a lot to grow my reserve notwithstanding inflation, from $275k to approx. 850k so far.
@@PatrickLloyd- I’ve been down a ton, I’m only holding on so I can recoup, I really need help, who is the professional that guides you?
I'm been guided by “Vivian Carol Gioia” who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.
@@PatrickLloyd- 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.
I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.
Investing in many sources of income that are independent of government paychecks is the prudent thing that everyone should be thinking about right now, especially given the global economic crisis. Stocks, forex, and digital currencies are still good investments at this time.
Sure, investing is essential for maintaining your financial stability, but making any kind of legitimate investment without the correct advice of a professional can result in a significant loss as well.
It's really not easy trading this market. I read a lot of books, tried to study, watch some tutorial videos, did a little demo before funding my account and I still lost a lot. The financial market could be very tricky
wanted to trade, but | got discouraged with the market price fluctuations~>
Trading under the guidance of a professional is the best strategy for beginners.
Ryan, you are professional, entertaining and informative!! You obviously know your stuff and the ups and downs of the market. You explain things to get your point across, but you never speak in vagaries nor give a frosty attitude. I’m saying you are open to sharing and have much to offer. Thank you.
Regards
J J
Thank you for this positive video. I was looking to relocate and sell/buy house but worried about rates situation. Even if the rates are high but stable, it help to plan and prepare. Living in the limbo rate situation is frustrating.
Recently my wife and I just sold two real estate properties for a total sum of $800k. We plan to purchase a new house next year, the cash is just sitting in our joint savings account. What do you recommend we do? I will appreciate any suggestions.
Concurred. was way easier for me to navigate the markets not until 2020 stock market crash, I had to source for a portfolio-coach to revamp my entire portfolio and hedge againts inflation. Concisely, I’ve pulled off around $850k after subsequent investments, since using a coach two years and counting
this is huge! can you be kind enough with info on the coach that guides you please? I’m in dire need of one as I approach retirement
I take guidance from Monica Mary Strigle you can search the internet for her basic info. She is often consulted via her site online.
Wow, I love this- "markets shouldn't dictate your outcome, they should only dictate your strategy" and with so many other things in life. Great video!
What a optimistic prediction Ryan.😊You still belive the " news" that economy is in great shape,wow.I hope you are RIGHT about everything.My prediction is that economy will dip a LOT ,or crash at the end of Q3 or just before elections 2024.I HOPE I'm WRONG and everything will fix itself by the way of MIRACLE.Good luck to you and all the people,of course.Happy holidays
Hello, what impact do you think the current judgment re: agent commissions will have on the current seller-buyer agent split? Thank you.
Westchester, NY is a metro north train train ride to grand central and it’s still more affordable than the other 5 boroughs. Tuckahoe, Bronxville, Eastchester, Larchmont, new Rochelle, Tarrytown, Scarsdale, Edgemont, ETC!
Things are getting worse these days, if you don't find a way to multiply your income, you might wake up one day to realize you did not mean well for your family
Most family are struggling to survive. meeting Ms Davina Norman has brought me great success. Even with the economy situation I'm still sure of my $ 15,000 weekly
Hi there, I’m commenting from Switzerland . Interesting to know she connects with people from different parts of the world. Such an ambitious woman. I got in touch with Ms. Davis early this year. As a newbie in the market, I had little knowledge on predicting the stock market, but with Ms. Norman weekly analysis and advise profits are guaranteed! I received three times my initial deposit in a week!!
I want to be financially free , I currently work 2 9-5 jobs and I’m struggling to pay bills along with my moms medical bills. I heard about forex a little while ago and was really interested and wanted to get into for the longest but I never had someone who could help. Can I get her contact? I need her assistance
How can I reach Davina does she have a telegram page??
Yes, she does and is very accessible with the username..........
I love this format for you! Please show properties that you feel are exceptional opportunities at all levels. You have an awesome presentation style Ryan. Hope your family enjoys a wonderful Holiday Season!
Very interestng to watch this even 30 days or so after publising. Its an excellent time capsule and also clearly and biliantly presented.
The problem with urban, or downtown markets is law and order. Most downtowns are governed by people who don't believe in enforcing laws. People don't like living in dangerous, disgusting places. There was a very cool downtown scene in the 90s up until about 2010. That's when crazy people took over.
You’ll never hear a Realtor say they believe the real estate market will crash
Thanks Mr S. (Oh, The Rise of The Suburbs) say what?? Since 1947!! LOL Branded residences? I want to live in Serhantville. ;)
I would love to hear more about what you’re predicting for 2025! You say it will be one of the greatest years ever. Is it just because the market will be stable with a higher level of transactions or is there more to it?
So...we think that the residential market still has sectors that are still stimulating an uptick in prices/values. There are still buyers out there that are looking for a specific price range and when that new property hits the market, it will not only be snatched up, but a premium for it will be paid. This is where the experienced Broker will be able to negotiate more or less for that property depending on which side of the transaction they represent.
I like a lot of this! And agree with it!
Great information Ryan!!!
What are your plans for 2025?
You said you’re really, really looking forward to 2025?
Nice video ryan kleep making videos like this
How abt moving to Amsterdam?
Hi, Ken! 😉🤣👋🏼
I think since 2024 is an election year the Fed will be pressured to ease up on rates. It will be a huge ask since The inflation goal by the Fed is 2%. Ironically as housing costs keep going up this makes it difficult for Fed to back off on rates since it’s part of the inflation they’re trying to reduce.
It simply makes no sense right now to get a mortgage better to sit it out. It’s a cash market.
That sounds right
Nice video! It was quite a rough year for me as I lost my job as a college teacher and earning from home was so uneasy due to the economic recession. Things turned for better mid-year as I got in contact with Ms, Norman Davina, I opened up about challenges I was facing here in Norway. During my time working with her, I was able generate weekly returns on my investment in the money market. We still keep in touch, such an amazing lady.
Most family are struggling to survive. meeting Ms Davina Norman has brought me great success. Even with the economy situation I'm still sure of my $15,000 monthly
That woman is really amazing I still can't believe someone can be this exceptional when it comes to trading stocks.
How can I reach Davina does she have a telegram page??
Yes, she does and is very accessible with the username..........
@NORMAN davis
Beautiful presentation, Ryan! Total GOAT attitude! Love to you and your beautiful family this Christmas and through the New Year! ❤❤❤❤
Ps.....keep your peeps out of Florida! We're getting too busy. 😂❤ JK..
How can prices keep rising and how can people afford to buy a home? Prices are already way to high? Can the average young couple qualify for a home that needs a ton of work?
Greetings from the simple life 🌴🌊😊
Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?
Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade
I strongly advise you against self trading, it's really dangerous and had brought so many investors down, you need someone with the knowledge and strategies, someone dedicated to the crypto currency market business, and I will strongly recommend expert, Mrs Eva
Wow I'm just shock you mentioned and recommended Expert Mrs Eva ,I thought I'm the only trading with her
YOU DON'T NEED TO BE SHOCK BECAUSE I'M ALSO A HUGE BENEFICIARY OF expert MRS EVA
I'm a huge fan of crypto, I hold few coins in my wallet, while I trade the rest with my Expert, Mrs Eva She's really Good
its great for one who makes $1,000,000 yr for us who make $100k yr forget about ever owning a home
Lions think the government owes too much, quantitative tightening is taking too much money out, & manufacturing efficiency is growing too fast to not lower rates soon. They're going to need to print & accept whatever overheating that creates in the real estate sector just to hit 3% average inflation. It's been nice knowing the 1/2 million average price.
Everything is so Confusing right now the final outcome will tell the true story. There are so many movable Parts that's affecting Real Estate.
The only homes I buy are the ones with rentable apartments, I don’t need a house for myself until I’m 40 years old
Genius
I think there’s a ton of inventory sorry I think there’s a lot of inventory
One of your best videos, just saying this about investors.
Wow!
Hello sir do you need video editing. I am video editing experts?
If you're single, there's just no way to buy a decent home right now unless you make a ton of money.
Yep. Story of my life 😐
Imagine that, the realtor thinks all the things that would benefit his business will happen 😂
There was no usable information
excellent report Ryan. I would say as I talk with businesses, the recession has already begun, but only in some sectors. We are overdue for an economic downturn regardless.
Person who got nothing better to do with money Will buy property all the real estate Are over priced way over and smart ones only buy when they get it for cheap price
Ugh I don't think so
What's up with 2025 tho?
Who the hell really knows? Most likely China/Blackrock will own half of all U.S. properties.....
THE END😮
Great insights, definitely reconsidering my 2024 home purchase plans! 🏠💭
Great video as always!
Ryan, Love the insight! What do you think about buyers potentially having to pay commission to the buyer agents… something the seller always paid in our markets. But laws may change that… how are we to pivot in our business
Thx
This case was in my market as well. It will be interesting to see what laws are changed. I could see buyer's agents becoming a 'flat fee' advisory service. Average buyers will end up on the losing end without some sort of representation/guidance.
This is how it works in Australia. Buyer pays the Buyers Agent, Sellers pay selling agent.
As you say, in the years to come clients that don’t engage a buyers agent will be at a disadvantage.
@@lukeosbornbuyersagent are buyers agents a flat fee or a commission?
Well looks like 2024 might be RV life for me. Going to wait till affordability comes back, I think a recession will help start the Wall Street fire sale 🔥 🥵 😂
Nice red jacket
❤
Don’t buy
Is that a plastic hairpiece?
Maybe you can stop Blackrock and Vanguard from buying SFH and location, location, location will always be a key factor! People still buy assets based on location not comp nationwide!
Love this video Ryan.....your insights are valuable & helpful 😁
I’m building my own Beach Hotel all cash paycheck to paycheck slowly for 5 years! 1 more year to go to open! LETS GO!!!!
However, more and more young remote works are moving overseas and becoming expats. 😊 Taking advantage of the lower cost of living, rental and real estate markets. ❤
Solid predictions. We are starting to see some foreclosures in our area which is giving investors some opportunities. 2024 will be a interesting year
Thanks Ryan, greetings from Brazil!!! See you soon in 2024 to do businesses … 😉
U r my inspiration I am 21 year old international student in Canada watching you inspire me to be something big in life
He is good at motivating people!
What is coming in 2025!? What am I missing.
You can’t buy anything in bidenomics not even a cardboard box to live in 🤣🤣
Ryan looks soo much older than me and I am like 4 years older than him.. hustle definitely has a cost
First! 😊
Around 9:00 “As the economy continues to do well..” umm where? Everywhere I look everyone is struggling. I talk to neighbors and they admitting these last few years have been worse than ever. Black Friday shopping is probably the worse ever. Credit card debt is over a trillion. I’d like to know where you believe the economy is doing well.
You talk too much, just get to the point
As a real estate enthusiast, i'm actually looking forward to a huge profit from my investment to purchase buildings suitable for economic growth
A standard financial investment plan will get you the monetary status required to purchase such assets. It’s not impossible.
True!! Savings don’t even cut it because money saved in the bank turn up with little returns
It is much smarter to have $200k invested in a platform making you 5-20% profit than have it in the bank making you 0.5% profit in the long term.
Truth is in order to afford assest like that, you’ll have to be involved with a multi dynamic platform capable of growing your money interests. People mostly downplay the role of a good portfolio manager until they’re burnt by their mistakes.
@@cherylhills3227who do you invest with?
He has such a used car salesman vibe it's so cringe.
You’re crazy to think that the economy is doing great and that prices won’t come down in 2024-2025…..please do a follow up end of 2025 on the real estate prices and the economy….its going to be a big cluster fuck and a disaster.
Christians are not gonna like the use of BC & AC. They'll accuse you of trying to wipe out their slang😂
😂
just so everyone know.... his father was already a millionaire who already had a gold spoon placed in ryan;s mouth the minute he was born......... his dad paved 99% of the way for him and he did the rest
Lmao it’s simple math. Prices will not go up. Such a scumbag move to say that to people.
Home.Hublot.vizion..suceste.dupa.sare.pe.acs.
@tombilyeu
You are so cute and funny please become a socialist your stock bro vibes are repulsive you are better than this…
LOL. it's always the 'tolerant' liberals who want to tell everyone else how they should live.
Socialism? Where do you get that right that you can take from one person and give it to another?
@@Iammram hmm a system in which something (value created by a workers labor) is taken by someone (the capitalist) who did not produce it??? Wow yeah i can only think of one societal organization in which that happens and its not socialism
@@pie4 The Capitalist takes the risk of providing the funding, resource, etc. to give work to the laborers to produce. It's his risk and capital that allows the laborers to do what they do and flourish from it. Why should he not be the one to benefit the most from providing the most in return?
@@Iammram thats an insane simplification of the process, the “risk” taken is a risk of becoming a worker. A capitalist will be an original investor, but that doesnt actually mean anything.
Second of all, no the capitalist does NOT, they do NOT take a risk, if they fail they file for bankruptcy, you dont know what you are talking about, LLC’s make owners of companies not at all liable for their actions.
THATS WHAT LIMITED LIABILITY MEANS DUMBASS, THEY JUST FILE FOR BANKRUPTCY AND ARE NO LONEGER LIABLE FOR THE “RISK” (the risk of losing money, something laborers face every single day through wage theft).
Also even if taking a risk somehow means you are allowed to exploit people, WHY IS THAT ALL A CAPITALIST DOES??? TAKING A RISK IS WHAT GAMBLERS DO?? DOES THAT MAKE THEM SOMEHOW MORE MORAL THAN SOMEONE WHO WORKS A 9-5???? Holy fuck think through your ideas PLEASE
Lets go over this again, the “risk” faced is purely social, financial obligations can be relieved upon failure through bankruptcy and if you dont fail you immediately make money just by existing and making people do other things. I would call it gambling but gambling implies you can lose something.
Did you seriously think i never thought of the simple fucking argument of “it takes money to start a business”. Dude, not everyone thinks as little as you do.
❤