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.
@@Jamesrobert627 It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@Jonathancolter7100 Finding financial advisors like Claire Robert’s Durand who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@EdmundEthan093 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 resume.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with “Jessica Lee Horst” for the last five years or so, and her returns have been pretty much amazing.
I'm hoping there will be a housing crisis so I can .buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
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.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I appreciate this. After entering her full name into my search bar, her professional web page surfaced as the top result. Her impressive qualifications undoubtedly speak volumes about her expertise
Hearing rich people talk about the american dream not being dead is a little on the nose. It was about average americans sharing in the prosperity of the nation.
Look you just gotta work hard like I did. Bought my house for 5 dollars 50 years ago now it's worth 32 million. I worked a whole 20 hrs a week. That sure is boy.. alot. Just do what I did stop being lazy.
@@jackdan3208 Look, we just gotta print and hand out more trillions to millions more people who sit on the couch for years, then they can buy anything they want again, causing prices to quadruple again and when it starts to level out, the bottom 80% who didn't invest will wonder why their bills have outpaced their income by 60% over and over like what we saw in 2020-2023. We need to just keep voting for socialist presidents and congressmen so all the poor people can be lifted out of poverty for 8 months before the poverty returns 4 times worse permanently, and there will be more than twice the amount of people who are officially impoverished who were previously in the middle class each time. It's super smart. Super super smart. For anyone who's paying attention and has a functioning brain, don't forget; socialism literally immediately makes the rich 3 times richer and the poor 4 times poorer.
We “own” two homes. There is no such thing as home ownership in America. You have to pay rising property taxes forever… when you don’t/can’t… the actual owner takes possession.
Absolutely, I compare it to a mobile home park, you own the trailer but you pay pad fees/rental. Even after paying all that money, you never truly own the place where you live.
$350k to buy a beginner home, $550k average home price here where I live. Average rent is $1600. Its dead, the dream is dead, we are living in a nightmare. I work 60 hours a week and have zero money left over after all expenses.
@Dtab22 oh yeah. Silly me. Let me just hit my local union apprenticeship. What's that? Oh, they're not hiring. Let me go back to college. What's that? It'll set me back over $80,000? I finally picked up new skills. What's that? You're not hiring and even so, you're offering low pay?
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
The filthy rich insurance agents telling us to just get a side hustle to pay for the overly inflated houses coupled with doubled interest rates on said housing prices. Real rich..
I worked 2 jobs for 2 years after my divorce to get my house, and I make 100k at my main job. Don't cry about what it used to be, do what you have to with how it is!
@majorrichardhead9778 did you walk 6 miles up the hill both ways back in your day, too? The average American making 75k per household will not be able to make the additional income needed to purchase a home doing a side hustle. Save us from your boomer rhetoric, back in my day BS. Times have changed and you're in denial. You probably say the majority of people working 3 jobs to pay RENT are lazy, too
@@majorrichardhead9778I did what you did after my divorce, granted it took about four years. However, these “Gloomy Gus’s” aren’t wrong about house prices being overly inflated to the looming special assessments for condos with a mountain of deferred maintenance. They just don’t want to plunk down 20% or even 25% plus and end up with negative equity a year or two down the road, which is a big risk right now.
Why do you listen to these people then. If all u care about is money u will never be happy cause these people are addicted and it will never be enough. Now shut up and go get that 4th job.
We need less government not more. The current administration especially. I have never worked this hard as a small business owner and that’s saying a lot. It was way better before!!
well we have to divorce ourselves from the fed notes , but thats basically illegal and will forced to comply or the jack boots will come arrest us, what is the solution, BIT COIN, cannabis, hemp, shiny rocks on the beach lol, we have been stripped of our ability is more ways than we will ever realize !!!!!!!!!!!
Sounds like he has been gargling his boyfriends all night
Před měsícem+12
I rarely come back to the PBD podcast because of Adam... and when I do, I always fast forward through Adam... I cannot tolerate him or his opinion... he talks a lot without saying much and what he does say is all bloated arrogance masked as pretend knowledge
Why ppl try and spin it as “not dead just changed” is beyond me. I want a house I make six figures and I can’t buy one. Why can’t we just admit that’s a problem
Because the American dream doesn’t need to include buying a house. Many people live wonderful American lives being a renter their who life and can do all of the things (and more) that home owners do. What is the obsession by Americans to buy a house?
@@Noah_527 because some of us where raised in houses and want to raise our families in those houses but we have to battle the ever increasing costs, renting is done , its for profit not for people to have a place, you dont have any property rights and cant even plant much, or raise chickens , then you have an tire area relying on the super market , it seems by 2030 life will collapse , we used to have a decent future its gone now, I dont want t o pay rent so someone can live easy while I struggle to pay their way, its surfdom !!
@@jacoblucas5117 Tell that to all the millenials and gen z who will likely never own a house. Tell that to the guy who decided to go the vanlife route and will have freedom and not need to dump $800k into a property. He can let that money grow instead in index funds or something similar and have far more money that the family that struggles their whole life to have a paid off house and then can't retire at 65 because they have $200k in their retirement account.
Means our blood is pure! The other shit people walking around with isn’t accepted in a lot of states! If you believed in the plandemic, I hope your eyes are open now!!!
We said fk the house for now and bought a cheap trailer to rebuild and add on to. Now our rent is $450 a month and gives room for rolling CDs at almost 10% annually.
you still are under bank loan enslavement , so thats not a solution , the government will just make a law or raise the costs once a certain number of people do that , we need freedom and liberty ,not adjust our lifestyle until we can get bank approval for life....
Both parties serve the same corporate capitalist masters, there’s slight variations of releasing crumbs to the peasants but for the most part both parties ensure the continued consolidation of all wealth to the top 10%.
@@gregorybob the alternative for many would be to rent and also throw money down the drain or hop into a home with 1% down and waste the pmi payment... not my situation but just so you can see what u said dont make sense
@@unlimited-liquid what you said don’t make sense if your dropping 1% you can’t afford a mortgage ppl that are doing that have bad credit and get screwed at higher rates not sure you understand the other side in reality that person is paying more then the guy that saves
@@gregorybob im staying at a girl's house right now and she bought a house with much less than $10k down bc it was cheaper monthly than an apartment and she's 21. it was a smart move for her to buy this house bc even with pmi, she's saving money. if youre not buying a house bc of PMI, you need to assess the alternatives and see what's actually more cost efficient. bc my pioint is, no matter what, youre going to throw away money unless youre staying with family or a SO.
I worked, paid off debt, saved money & bought a small single family, fixer upper when I was 40….i think people should keep saving & when interest rates get down a little, try to buy a home. The time isn’t ideal now, but things will change. Don’t give up hope…it’ll get better:)
@@ALEXdaG this is true, but prices will go up only until the new demand is satisfied….then prices will adjust. In my opinion, you can’t go wrong by preparing yourself for when the opportunity comes:) You never know an opportunity is gonna come…nor in what form it will come. But if you have money saved, you’re probably in better shape than if you didn’t.
I'm a veteran with no debt with a 83k salary. Living in Rhode Island where the average house is 400k for a 2-3 bedroom I know I will never own a home. My future kids will be raised in a apartment until we move again due to high rent.
As someone who saw the 08 crisis, I am afraid of buying a home right now just to have it end up underwater. I saw so many people lose their shirts on housing back in 08.
But if they had held onto it they’d be far above water at this point. Waiting forever and hoping for a dip in the market and a deal means lots of waiting.
@@Noah_527At the time nobody knew it would recover. Japan never recovered. You never know and you don’t want to see everyone getting a house equal or better than yours for 1/2 price. That is tough to live through, believe me…
@@resnonverba3351 Nothing in life is guaranteed. The stock market could tank tomorrow and all of our retirement funds could be gone forever. Life is a risk. We all have to decide if it's worth it or not to make a decision. I'm rather positive that real estate will be a safe bet for the next 50 years, especially considering the pent up demand by Gen Z and Millenials.
Absolutely CRAZY to me that they are comparing stocks to real estate in this manner! They are assuming that people buy real estate CASH. The reality is that most people don’t. That makes all the difference-and it’s one way real estate can see massive returns. Scenario 1: I buy a $500K house with $500K cash. Real estate appreciates at 4% average over a long period. That’s $20K per year for the first few years. Scenario 2: I buy a $500K house with only 5% down (or $20K down). Real estate appreciates 4%. That’s $20K per year for the first few years. I capture all of the appreciation for myself. That’s over 100% return on the money I put down within the first year! Not just the 4% from the previous scenario. With real estate, the returns can be very different depending on how I buy it. And even if I own it outright, renting it out in my town can get me an extra 8% of the property’s value annually-cash. That’s a steady 12% return. Surprised these guys are talking about all cash deals, as if that’s how these assets are acquired. The truth is, real estate is the quickest, surest way to millionaire status in America.
Here's the cruel reality, almost everyone 50 or under is going to have to work until you die. Our leadership class don't want average people being able to retire. Home ownership is KEY to being able to retire. We are transitioning right before our eyes to a society that won't allow for retirement... Unless you're super rich.
I'm 36 and on my 3rd house. I worked in high school and throughout college. I saved all my money and bought a fixer upper at 27, sold that for profit and bought another fixer at 30, sold that for profit and just spent WAY too much on a new house. It is totally doable but way harder in this economy if you are just starting out.
Definitely doable. I’m 36 and I’ve been in the habit of saving each paycheck. I bought my first house in 2019 and now I’m getting ready to buy a rental property.
you did no work so all you did was add to the inflation and ride the arrow up, that only works for some people , not everyone can do the same thing and if we did it wouldn't work, we need liberty and protection from bank loan slavery, then maybe a fair system can enable a functional society free from wal marts and fast food poison, its easy to to say just do this, but not everyone can buy a house for 70k and wait a few years until the value goes up, and then lure in someone from a higher inflated economy looking to use downward mobility to their advantage !
yes but the government has extra taxes in most places for landlords , and they raise the value of your property without a vote, and then hit you will a tax increase, and then let companies buy up multi properties that make sure the values go up , and up, and you think you are well off but 5 years down the road BAMM you not!
Despite the negatives I’d say it’s still way worth it at least in my area. Having a tenant pay for the majority of your mortgage is a no brainer, plus if you can pay a full payment out of your own pocket it’ll be paid off quick and then repeat the process. You’ll soon have several rental income coming in.plus if you live in the house for at least a year you might not need to put 20 percent down.
The appreciation value of houses is on the value of the home, not the amount of cash you put in. If you put 20% down and 100% of the value increases by 3%, your cash investment return is 15%, which crushes the stock market.
Minus 6% in interest you paid. Minus property tax. Minus insurance. Minus HOA. Minus maintenance. Minus cost of sale. Minus lost job opportunities due to immobility.
They need to stop letting Adam talk about real estate. You can’t compare stock market and real estate returns without mentioning the ability to utilize leverage in real estate. You can’t put 5%-20% down and borrow the rest to purchase portfolio of stocks valued at $500k. You can do exactly that with real estate. So while the “9.8%” return he’s speaking of may be higher on paper than real estate (on average), your return is tied to an asset 1/10 of the value. This is rudimentary investing knowledge.
I lived in the US and now in Canada for Over 25 years same thing here the average detached home price is around $765k so about $550 K USD however in major cities Vancouver start at 2 Millions for a rundown house Toronto Ottawa Etc over a Million + and you must do lots of reno's in most of them. This is why a lot of folks are moving overseas because they cannot afford to live in their native country! Good luck to you all
I spent my entire childhood watching my dad fix, paint, build our families home. There's nothing wrong with buying a run down house(cash or close to) and fixing it up on weekends. But you buy direct, with no realtors.
As a single guy I just want a home of my own, something I've never had or grew up with and have been working for 10 years to buy. I am fortunate to have a very good career that allows me to live in a HCOL area and be able to buy a new build that is a normal home the next 6-12 months. When I buy a house that will be my only debt, sure I'll need a new car eventually but it won't be a BMW, MBZ, Cadillac, Porsche, etc. It'll be a normal car under $40k probably a Toyota so I won't have to buy nothing for another decade, and still have money to live and a retirement. Thats what we all want a home of our own and not everyone can do that in the massive cities and unfortunately a lot of people haven't woken up to just move to an area that can provide a solid good life. Housing shouldn't double in a 4-6 year period when it has never before and usually takes 10-20 years to do it normally even in the metro. We have to have housing for people that make solid livings.
I’m 33, while I agree home ownership seems completely out of the question… I also know that those around me in my age group don’t even try in any capacity. They blow all their money on short lived dopamine and then complain the system wants them to fail. We have a mindset and mentality problem more than anything else.
My parents were depression children. My mom told me life is work, worry, trouble and woe. Work, study, save. You will get your reward in the next life not in this life. Trust no one. Family screws your first. No good deed goes unpunished. How do you expect nations to get along when you don't get along with your brother. Human nature is like water it's seek it's lowest level. The last good man on this earth was nailed to the cross. If your healthy you are rich. No whining or complaining.
Exactly. Sure, there could be more nonsense to contend with, but there is way more opportunity today. You just have to focus. I just turned 33, grew up in serious poverty, and now I own a house and have three kids. A lot of people are just lazy and want to be pampered.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
My american dream had to be downsized to buying a van and living down by the river just so that I can have disposable income. I wish I could afford a family or even a girlfriend, but just staying alive is making me broke. My life is quickly running out, but I am still single and the best I could hope to do in the immediate future is not be a financial burden.
The real problem is the people that are in their current homes are starting to be late on mortgage payments. I work for a small credit union and over the last 2 years the trend has been people running up CC debt, then being late on payments on the cards (or car loans and personal loans) now I am seeing a lot more people paying mortgages late or getting to the point where foreclosure and bankruptcy is happening. About a month ago we had a member voluntarily give in their car to us and they are filing bankruptcy. Currently they are behind on mortgages and multiple loans totalizng over $300,000
The affordability crisis will force prices down. Not only are people on the sidelines as renters, but MANY people are in houses and cannot make their monthly payments. This along with daily living expenses, is the "math'" that does not add up.
Buying a house is not a luxury, having a place to live is a necessity. We have allowed corporate America buy up whole neighborhoods in the name of profits. And then their rents are also over the top so Adam, we are broke because the cost of shelter is dictated by greedy business by people and they are colluding with each other to do it. That is the truth. Just like the meat processors are colluding in pricing to the ranchers. Who owns meat processors? Probably the same market equity companies that own single family homes. Market equities are destroying our world
The reason why it seems like it’s out of the question is because no one likes to sacrifice in order to save. Everyone’s comfortable buying $300+ shoes, a brand new car, having 5 or more “buy now pay later” installments, or thousands in student loan debt. Americans feel entitled.
Poor people are the worst real estate buyers. They want glitz over function because of all the social media. Few would look at a fixer upper and be willing to do the work to make it a nice home. You’d surprised how many poor people have nice toys, many have big screen TV’s, $1k phones, $cars,etc.. (2024) When I was a paperboy as a kid had a route with a lot of Apts with lots fancy cars and the people dressed well..but they couldn’t afford to pay me my $3 for the month. (1968) Things don’t really change..
I think that I was discouraged from buying a home in the H&R block said to me that home prices were so inflated in California that under my current salary on a home was out of my price range, considering the current cost of ownership at the time and the fact that I had to take a loss from my previous salary after I moved to my area. That helped me have perspective in terms of homeownership, cost of maintenance and repairs, home insurance, and other costs associated with homeownership.
I’m 30, no kids, single, and I have a “good job” I’m still wasting away 70% of my salary into rent and I am physically unable to save more than $60 a week.
3:45 I heard this all 2021 waited waited waited got beat by cash buyers interest rates kept skyrocking home prices increasing till 5.6 locked in now at 7-8%
I’m 27. Bought a house a year ago even though rates were high in Los Angeles. I started my business when I was 21. I didn’t need a co signer. If you wanna be able to buy stuff you need more income. Start a business and work your butt off.
People are completely overlooking mobile homes. I know that may not be your “dream home” but for 70-110k you can get a REALLY nice one with modern interior and 3+ bedrooms, the trailer park location obviously affects your experience. Just a thought
You are forgetting leverage. Invest $25k with 10% return you get 27,500. Invest 25K in real estate you get $29K plus monthly payments while retaining the asset.
Housing is exactly as affordable today as it was in 2000. I can prove it. And the video on “stocks” appreciate more than real estate” Yes. And rentals cash flow. Tenants pay off the debt. The appreciation is levered. The depreciation is levered. You missed what the asset class is all about.
I am 38, and I was able to buy a home on a single income with 2 kids and one on the way. I would love to tell my story on your show. I am not rich. I'm just an average person, but I have been able to do a lot with the little I have.
Single people should get a mortgage instead of renting. It helps to reduce the high taxes singles pay. My tax experience has been way better since I bought my house and I pay less than renting.
@@Dividendsmattertoo my mortgage is $1500 for a 3br home and rentals for a 1br is about $2000. I’ve also receive $1000s in tax benefits I’ve never received as a renter.
If you rent you will always worry about a place to live, rent going up. If you buy a home you lock your monthly mortgage for 30 years. It won’t ever go up.
That's why I'm moving to south east Asia. I've learned to daytrade over the last 3 years. Now I'm just creating a cushion. Then I'm out. I'm not gonna wait for this country to get it's shit together any longer.
Lets start addressing where we need to go and what needs to be done. We should not, as American people, accept that this idea of home ownership is dead and done.
They are ignoring the other half of owning or having an investment property. If you own, your mortgage payments are going toward an asset once you add that in that changes that 4% number they are talking about. If you have an investment property someone else is paying for your mortgage and eventually paying you depending on how choose to manage it.
Real Estate isn't the only Asset you may leverage,you may leverage Investments including Contracts,Gold, Silver, Stocks, Insurance,businesses. If you know what your asset you want is & you need some more $ to get it, look into leveraging. For every successful deal,had 2 unsuccessful deals but haven't given up. Key is not giving up & limiting Risk.
This strikes me as tone deaf. It has been a long time since they talked to people that are not in the 1% and it shows. Patrick is a true investment advisor. Doesn't matter if your client makes or loses as long as you get the commission.
No one wants to mention that elephant in the room. Increased housing demand and stagnant wages is due to unlimited immigration legal and illegal. Ask Canada.
Detachment Syndrome...when a person and/or group is so far detached from reality, it shows like a farmers tan. It's actually pretty simple math if you're not part of the problem you're analyzing.
I'm 39 years old, 3 kids. Just my weekly grocery purchases and home necessities drain 75% of my check. I had to borrow out of my 401k to replace the tires on my car.... I wish I could afford a house. Ny state is ridiculous.
So happy to have invested in my first home in 2012 at 22 years old instead of going into debt like my peers for college. Bought it for 123k fixed it with less then 8k sold it a year later for 189k bought my second home for 224k lived there for 4 years while renovating sold it for 380k then in 2019 bought a home for 430k I’ve put about 100k into it and it’s appraised at $970k. I won’t sell this one because it’s the home I want to raise my family in. Being less then 1 hr north of NYC I know even if the marked drops it will be worth more then what I’ve put into it but getting a home equity loan to pay off the renovation costs has been a failed endeavor. I was 2 years too late to have used my home to invest into a rental property like I planned after graduating HS in 2007. The real-estate path to financial freedom has been taken away for the average American coming up from nothing. Fuck the system
Aussie on the chat line here. As most around the globe know Australia's housing affordability is a dis-service to its future generations. This is part and mostly due to recent government high intake of immigration. Further more it is also due to a government policy called "Negative Gearing" Negative gearing is a MASSIVE tax advantage where you are able to make a claim on All if not a huge certain percentage of your buisness OR Income tax against any Negative earning that went towards your investment property. All in the while that same asset is increasing on average 10% per year or in the case of the past 3 years my town house going from 310k purchase to 598k evaluated 75 odd % give or take . ( I am actually not a fan of this as it makes people harder to buy their first home) My question is. Does the US government have anything similar to this? As I am wondering why a house is Texas is 275kUSD but yet a home in Brisbane is 800k - 1mAUD those numbers in Texas may not be bang on and I understand the exchange rate differentials but it just seems ridiculously strange Would love some feed back
Real Estate provides what I like to call The Trifecta effect and you guys are only talking about 1/3 of it when it comes to having real estate. Appreciation - Passive income - most importantly Tax Incentives if implemented correctly to offset income and kick the can down the road. Additionally, owning real estate also provides physical and mental stability. Real estate provides a path to true wealth and I’m only seeing the wealthy take advantage of this. Estate planning, Cost segregation method, bonus depreciation, offsetting w-2 income, and so much more. Also - you can get a home with as little as 5% by leveraging FHA loans or even having the seller pay for your closing costs and you just have to bring 3.5-5% down.
I’m 34 single bought a house in May built an apartment. Rented it this month and I only pay $1,000 out of my own pocket for a mortgage. Make over $100K a year. Had to buy a fixer upper but I made it work.
Anyone who’s cracking the speakers about being rich and out of touch should remember, they came from nothing and took huge risks along with educating themselves. I like PBD and Tom, Adam and Vinny
there is a small $25 fee for processing a VA home loan. This fee auto makes all vets offers for homes go to the bottom of the offer stack because there are fees attached that other offers do not have
Just remember you can usually renegotiate your mortgage during the life of the loan but you only get one chance to negotiate your purchase price. If you buy an overpriced it will be your downfall until you get out of it. This market is still way over priced
I'm really sick and tired of the "and if you're single with no kids don't buy a house" rhetoric coming from the guys on PBD. Easy for them all to say as multimillionaires. Well, maybe I'm in my late 30s, unmarried, no kids, and maybe I don't feel like freaking renting a two bedroom apartment for the rest of my life. Maybe I want a place that I can actually call my own, that I can decorate and paint and fix up and do things to instead of being a rent slave living in someone else's property. I can't understand how they think that people would just be OK with this indefinitely. Like no big deal. Absolutely tone deaf take.
One more factor that would effect the affordability crisis is the NAR settlement. It would make it much more difficult for first time buyers to afford a house. That was the worse thing that could have happened to buyers in today's market.
They keep on talking about how real estate returns are lower than stocks. While true on the total value of asset, this is incorrect in terms of the average person. Why? Real estate home owners or investors are able to more effectively use leverage (and tax rates incentivize home ownership or landlord). Ie I can effectively own a 500-700k property with 100k down. A retail stock/bond market investor can only really invest in 100k worth of assets with 100k. It is true a single person with extra cash should likely just put money into a good etf/mutual fund and almost forget about it, but simply looking at returns between the two is not effective way of evaluating the two. A 100k down payment could turn into 200k much quicker and is more likely in real estate for an average person than 100k in the stock market.
Oh, sure. Let me just uproot my whole life. Leave family behind. Start over in a place without knowing anyone. Separate my kid from his friends and community. All that in pursuit of shelter that I'm going to have to grind to pay off for the next 3 decades.
@RogerWareInc in order to get opportunity you first have to seek opportunity. I didn't say it would be easy. But yes, if having fincial freedom and owning a house requires you to move then it's a choice you have. But if you chose to stay renting never owning anything that too is a choice. My closest family member is 5 hours away. The furthest is 22 hours away.
@@johnathanryan4430sadly in todays world you gotta tell your family & friends to kick rocks. You can always replace friends and family but a home;that’s for life 🙏
"The American dream isn't dead you just can't afford to buy a house in the suburbs anymore" So the American dream for a lot of folks is dead got it. People rely on having a paid off house in retirement age to lower their overhead. Adam strikes me as one of those "Maybe people shouldn't ever retire" people.
Every single person I know who's renting is trying to move because their lease renewal is going up astronomically. By 30-80%, in one year. So there are reasons that buying is becoming out of reach. But "zero" reason to buy? No, renting sucks right now.
PBD remember we are in a fourth turning. At worst the Dollar looses it's status and reserve currency status. The Bricks countries are rolling out a new reserve currency backed by gold and other commodities. The unbacked fiat Federal reserve notes purchasing power will continue diminishing. Our national debt and poor fiscal policies will accelerate the US dollars demise. Other countries fiat currencies and fiscal irresponsible policies will implode before the US. We will see things happen around the world not seen in any of our lifetimes. Events not seen in 100 years. Prepare yourselves physically, mentally and spiritually. Fight the good fight. May God bless you and help you shine the light of Truth through the darkness.
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.
@@Jamesrobert627 It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@@Jonathancolter7100 Finding financial advisors like Claire Robert’s Durand who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
@@EdmundEthan093 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 resume.
Because so many people overpaid for homes even while loan rates were low, I believe there will be a housing catastrophe because these people are in debt. If housing costs continue to drop and, for whatever reason, they can no longer afford the property and it goes into foreclosure, they have no equity since, even if they try to sell, they will not make any money. I believe that many individuals will experience this, especially given the impending mass layoffs and rapidly rising living expenses.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Would you mind providing details on the advisor who helped you? saving for a pension through a corporate program since the age of 18. I hit greater tax along the road, so I increased my company pension with a SIPP (tax benefits). I'm now 50 and would love to expand my finances more aggressively; there are a few automobiles I still want to drive and a few mega-vacations that I still want to take.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with “Jessica Lee Horst” for the last five years or so, and her returns have been pretty much amazing.
I located her, sent her an email, and scheduled a call; hopefully, she will reply because I want to start the new year off financially strong.
I'm hoping there will be a housing crisis so I can .buy cheaply when I sell a few houses in 2025. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
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.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with Melissa Terri Swayne for the last five years or so, and her returns have been pretty much amazing.
I appreciate this. After entering her full name into my search bar, her professional web page surfaced as the top result. Her impressive qualifications undoubtedly speak volumes about her expertise
Hearing rich people talk about the american dream not being dead is a little on the nose. It was about average americans sharing in the prosperity of the nation.
Correct this is where they are wrong
Look you just gotta work hard like I did. Bought my house for 5 dollars 50 years ago now it's worth 32 million. I worked a whole 20 hrs a week. That sure is boy.. alot. Just do what I did stop being lazy.
@@jackdan3208ok Boomer 😂
@@jackdan3208 Look, we just gotta print and hand out more trillions to millions more people who sit on the couch for years, then they can buy anything they want again, causing prices to quadruple again and when it starts to level out, the bottom 80% who didn't invest will wonder why their bills have outpaced their income by 60% over and over like what we saw in 2020-2023. We need to just keep voting for socialist presidents and congressmen so all the poor people can be lifted out of poverty for 8 months before the poverty returns 4 times worse permanently, and there will be more than twice the amount of people who are officially impoverished who were previously in the middle class each time. It's super smart. Super super smart. For anyone who's paying attention and has a functioning brain, don't forget; socialism literally immediately makes the rich 3 times richer and the poor 4 times poorer.
Have u seen the Democrats telling the sheep that the economy is great 🤣🤣🤣🤣🤣🤣🤣. And voters still voting stupid
We “own” two homes. There is no such thing as home ownership in America. You have to pay rising property taxes forever… when you don’t/can’t… the actual owner takes possession.
Absolutely, I compare it to a mobile home park, you own the trailer but you pay pad fees/rental. Even after paying all that money, you never truly own the place where you live.
Fact
Maybe one day the US will give citizens property rights.
Unless you are in a state like Texas.
Bingo!
$350k to buy a beginner home, $550k average home price here where I live. Average rent is $1600. Its dead, the dream is dead, we are living in a nightmare. I work 60 hours a week and have zero money left over after all expenses.
Learn new skills and make more money
@Dtab22 oh yeah. Silly me. Let me just hit my local union apprenticeship. What's that? Oh, they're not hiring. Let me go back to college. What's that? It'll set me back over $80,000? I finally picked up new skills. What's that? You're not hiring and even so, you're offering low pay?
welcome to the club
@@Dtab22 loll are you serious the job market is dead
What industry are you in and what was your total income for 2023?
More and more people might face a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.
The increasing prices have impacted my plan to retire at 62, work part-time, and save for the future. I'm concerned about whether those who navigated the 2008 financial crisis had an easier time than I am currently experiencing. The combination of stock market volatility and a decrease in income is causing anxiety about whether I'll have sufficient funds for retirement.
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Being heavily liquid, I'd rather not reinvent the wheel. Since this strategy works for you, how can I contact your advisor?
Monica Shawn Marti is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks for sharing. I curiously searched for her full name and her website popped up immediately. I looked through her credentials and did my due diligence before contacting her.
The filthy rich insurance agents telling us to just get a side hustle to pay for the overly inflated houses coupled with doubled interest rates on said housing prices. Real rich..
Rich insurance agents = LEECHES
I worked 2 jobs for 2 years after my divorce to get my house, and I make 100k at my main job. Don't cry about what it used to be, do what you have to with how it is!
@majorrichardhead9778 did you walk 6 miles up the hill both ways back in your day, too? The average American making 75k per household will not be able to make the additional income needed to purchase a home doing a side hustle. Save us from your boomer rhetoric, back in my day BS. Times have changed and you're in denial. You probably say the majority of people working 3 jobs to pay RENT are lazy, too
Stop making excuses.
@@majorrichardhead9778I did what you did after my divorce, granted it took about four years. However, these “Gloomy Gus’s” aren’t wrong about house prices being overly inflated to the looming special assessments for condos with a mountain of deferred maintenance.
They just don’t want to plunk down 20% or even 25% plus and end up with negative equity a year or two down the road, which is a big risk right now.
We all understand you have many millions. Don’t speak on a 350k home like that. It’s all relative to the buyer.
Agree. Very condescending.
This. 100%.
350k house in NJ taxes are 10k on top of it
Exactly it's like these people become out of touch
Why do you listen to these people then. If all u care about is money u will never be happy cause these people are addicted and it will never be enough. Now shut up and go get that 4th job.
You guys completely gloss over how hostile and unbearable the government has made farming or running a business. Talking out of your asses
Exactly! When we first bought our home in 2007 taxes were 2400 a year. Now they are 5000/year. My salary hasnt doubled but the government's has.
We need less government not more. The current administration especially. I have never worked this hard as a small business owner and that’s saying a lot. It was way better before!!
The money is the problem, we are all being paid in devalued currency. Until that changes nothing changes
No it's taxes
@@jordanfgfox7237 Well you want your house to be assessed at a high level but the bitch about taxes. You can't have it both ways.
well we have to divorce ourselves from the fed notes , but thats basically illegal and will forced to comply or the jack boots will come arrest us, what is the solution, BIT COIN, cannabis, hemp, shiny rocks on the beach lol, we have been stripped of our ability is more ways than we will ever realize !!!!!!!!!!!
@@jordanfgfox7237printing money or devaluing the currency is the secret tax. It’s just more insidious and sneaky.
This is the comment right here
I hate listening to adam
Sounds like he has been gargling his boyfriends all night
I rarely come back to the PBD podcast because of Adam... and when I do, I always fast forward through Adam... I cannot tolerate him or his opinion... he talks a lot without saying much and what he does say is all bloated arrogance masked as pretend knowledge
I can't say hate. It's such a harsh word. But I also can't stand hearing him speak. He rumbles and doesn't say anything.
I only watch after it's been live so I can skip past him. I can't stand him either. He needs the boot.
Sheit! I’m just glad that Fredo hasn’t been on the show in a while. 🤷🏻♂️
Why ppl try and spin it as “not dead just changed” is beyond me. I want a house I make six figures and I can’t buy one. Why can’t we just admit that’s a problem
Because the American dream doesn’t need to include buying a house. Many people live wonderful American lives being a renter their who life and can do all of the things (and more) that home owners do. What is the obsession by Americans to buy a house?
@@Noah_527 because some of us where raised in houses and want to raise our families in those houses but we have to battle the ever increasing costs, renting is done , its for profit not for people to have a place, you dont have any property rights and cant even plant much, or raise chickens , then you have an tire area relying on the super market , it seems by 2030 life will collapse , we used to have a decent future its gone now, I dont want t o pay rent so someone can live easy while I struggle to pay their way, its surfdom !!
@@Noah_527because you can do whatever you want with your own home and build equity
@Noah_527 having a paid off house is critical to building wealth for most people, wake up
@@jacoblucas5117 Tell that to all the millenials and gen z who will likely never own a house. Tell that to the guy who decided to go the vanlife route and will have freedom and not need to dump $800k into a property. He can let that money grow instead in index funds or something similar and have far more money that the family that struggles their whole life to have a paid off house and then can't retire at 65 because they have $200k in their retirement account.
Even if I COULD afford a home, I wouldn't be able to even afford the property taxes alone.
Add in insurance and costs of upkeep ...
Like they said, get a side hustle….Whatever that is. Easy as that. 😂
@@bmunson76 I got like 3 of them... lol. It ain't enough.
@@rodneyabrett lol. I hear ya! Same here.
Rodney what is your annual income?
Hello to all the pure bloods that made it through the deadly plandemic
Hello back at cha! Stay the righteous path pure bloods.
Purebloods? Sounds like something the Koo Koo Klan would say.
@@toddtheisen8386 sounds like you're a jabber
@@toddtheisen8386 ok smooth brain
Means our blood is pure! The other shit people walking around with isn’t accepted in a lot of states! If you believed in the plandemic, I hope your eyes are open now!!!
"Side hustles" AKA part time job. In addition to your 40 hours a week. Now you're working 60+ hours a week.
if you can get 40 hours and still have an actual life ?
We said fk the house for now and bought a cheap trailer to rebuild and add on to. Now our rent is $450 a month and gives room for rolling CDs at almost 10% annually.
you still are under bank loan enslavement , so thats not a solution , the government will just make a law or raise the costs once a certain number of people do that , we need freedom and liberty ,not adjust our lifestyle until we can get bank approval for life....
CDs at 10%?
@@TartarianTopG I said almost 10%. It's actually a 4.5% matched by 4.5% from our bank.
And people will still vote dem!
Tell me which republicans are going to support reduced gov spending, ending the fed, entitlements and reduction in regulations? I'll wait
yep yep but the republicans can do much better holding the dems accountable but they are not. God bless
Never underestimate this stupidity of the American voter
Both parties serve the same corporate capitalist masters, there’s slight variations of releasing crumbs to the peasants but for the most part both parties ensure the continued consolidation of all wealth to the top 10%.
Standard dumbass take thinking this has to do with any one party only.
Uhhhh?,
NO ONE IS PUTTING 10% down.
It’s either 1% or the house is bought with ALL CASH!!!
Nahh I got 20% I’m not paying PMI for 3 years that’s money down the drain
@@gregorybob the alternative for many would be to rent and also throw money down the drain or hop into a home with 1% down and waste the pmi payment... not my situation but just so you can see what u said dont make sense
@@unlimited-liquid what you said don’t make sense if your dropping 1% you can’t afford a mortgage ppl that are doing that have bad credit and get screwed at higher rates not sure you understand the other side in reality that person is paying more then the guy that saves
@@gregorybob im staying at a girl's house right now and she bought a house with much less than $10k down bc it was cheaper monthly than an apartment and she's 21. it was a smart move for her to buy this house bc even with pmi, she's saving money. if youre not buying a house bc of PMI, you need to assess the alternatives and see what's actually more cost efficient. bc my pioint is, no matter what, youre going to throw away money unless youre staying with family or a SO.
@@unlimited-liquid rent being more expensive then housing where is this ?? Is she adding property tax bubba cuz sign me up for that
I worked, paid off debt, saved money & bought a small single family, fixer upper when I was 40….i think people should keep saving & when interest rates get down a little, try to buy a home. The time isn’t ideal now, but things will change.
Don’t give up hope…it’ll get better:)
Interest starts coming down and competition between buyers goes up, pushing prices higher or keeping the same
@@ALEXdaG this is true, but prices will go up only until the new demand is satisfied….then prices will adjust.
In my opinion, you can’t go wrong by preparing yourself for when the opportunity comes:)
You never know an opportunity is gonna come…nor in what form it will come. But if you have money saved, you’re probably in better shape than if you didn’t.
I'm a veteran with no debt with a 83k salary. Living in Rhode Island where the average house is 400k for a 2-3 bedroom I know I will never own a home. My future kids will be raised in a apartment until we move again due to high rent.
As someone who saw the 08 crisis, I am afraid of buying a home right now just to have it end up underwater. I saw so many people lose their shirts on housing back in 08.
But if they had held onto it they’d be far above water at this point. Waiting forever and hoping for a dip in the market and a deal means lots of waiting.
AMEN
@@Noah_527At the time nobody knew it would recover. Japan never recovered. You never know and you don’t want to see everyone getting a house equal or better than yours for 1/2 price. That is tough to live through, believe me…
@@resnonverba3351 Nothing in life is guaranteed. The stock market could tank tomorrow and all of our retirement funds could be gone forever. Life is a risk. We all have to decide if it's worth it or not to make a decision. I'm rather positive that real estate will be a safe bet for the next 50 years, especially considering the pent up demand by Gen Z and Millenials.
Absolutely CRAZY to me that they are comparing stocks to real estate in this manner!
They are assuming that people buy real estate CASH. The reality is that most people don’t. That makes all the difference-and it’s one way real estate can see massive returns.
Scenario 1: I buy a $500K house with $500K cash. Real estate appreciates at 4% average over a long period. That’s $20K per year for the first few years.
Scenario 2: I buy a $500K house with only 5% down (or $20K down). Real estate appreciates 4%. That’s $20K per year for the first few years. I capture all of the appreciation for myself. That’s over 100% return on the money I put down within the first year! Not just the 4% from the previous scenario.
With real estate, the returns can be very different depending on how I buy it.
And even if I own it outright, renting it out in my town can get me an extra 8% of the property’s value annually-cash. That’s a steady 12% return.
Surprised these guys are talking about all cash deals, as if that’s how these assets are acquired.
The truth is, real estate is the quickest, surest way to millionaire status in America.
Yeah because they live in a bubble. In what universe is a stock the same as owning a home?
Nah even if I can put 60k on a house right now, just think of the potential compounding you’re missing out on if you put that down
It didn’t seem like they were talking cash deals
@@TartarianTopGyou take half that 60 for down payment and invest the rest. You would come out on top in the long run
Here's the cruel reality, almost everyone 50 or under is going to have to work until you die. Our leadership class don't want average people being able to retire. Home ownership is KEY to being able to retire. We are transitioning right before our eyes to a society that won't allow for retirement... Unless you're super rich.
I'm 36 and on my 3rd house. I worked in high school and throughout college. I saved all my money and bought a fixer upper at 27, sold that for profit and bought another fixer at 30, sold that for profit and just spent WAY too much on a new house. It is totally doable but way harder in this economy if you are just starting out.
Did the same at 23..I’m living in my 8th house debt free. Started out with $7k.
Definitely doable. I’m 36 and I’ve been in the habit of saving each paycheck. I bought my first house in 2019 and now I’m getting ready to buy a rental property.
How much do you end up paying the closing costs each time?
you did no work so all you did was add to the inflation and ride the arrow up, that only works for some people , not everyone can do the same thing and if we did it wouldn't work, we need liberty and protection from bank loan slavery, then maybe a fair system can enable a functional society free from wal marts and fast food poison, its easy to to say just do this, but not everyone can buy a house for 70k and wait a few years until the value goes up, and then lure in someone from a higher inflated economy looking to use downward mobility to their advantage !
If I were a younger man and could do it over I’d buy a nice duplex and rent the other half to pay my mortgage
Yeah but if you want a duplex in a nicer area it’s about 1 million bucks.
yes but the government has extra taxes in most places for landlords , and they raise the value of your property without a vote, and then hit you will a tax increase, and then let companies buy up multi properties that make sure the values go up , and up, and you think you are well off but 5 years down the road BAMM you not!
Despite the negatives I’d say it’s still way worth it at least in my area. Having a tenant pay for the majority of your mortgage is a no brainer, plus if you can pay a full payment out of your own pocket it’ll be paid off quick and then repeat the process. You’ll soon have several rental income coming in.plus if you live in the house for at least a year you might not need to put 20 percent down.
@@jmoney6652 now you are slaving people out, that is no solution, you are gate keeping, there is no positive to being lazy !
The appreciation value of houses is on the value of the home, not the amount of cash you put in.
If you put 20% down and 100% of the value increases by 3%, your cash investment return is 15%, which crushes the stock market.
Yep. That's exactly what I did. Went from 75k down payment in 2019 to 300k equity during Covid.
Minus 6% in interest you paid. Minus property tax. Minus insurance. Minus HOA. Minus maintenance. Minus cost of sale. Minus lost job opportunities due to immobility.
Bought my little house in Empire Calif. 2003 for $65,000 selling in 2024 for $300,000
Man what was I doing going to elementary school I should d bought a house!
@@gifthorse3675 I should have listened to my dad when I was younger, he pushed me to buy a house when I was 18, I waited until I was in my 40's.
They need to stop letting Adam talk about real estate. You can’t compare stock market and real estate returns without mentioning the ability to utilize leverage in real estate. You can’t put 5%-20% down and borrow the rest to purchase portfolio of stocks valued at $500k. You can do exactly that with real estate. So while the “9.8%” return he’s speaking of may be higher on paper than real estate (on average), your return is tied to an asset 1/10 of the value. This is rudimentary investing knowledge.
Adam is too dumb to understand this. He seems like a drug head from Miami that thinks he is smart but is actually an idiot
I lived in the US and now in Canada for Over 25 years same thing here the average detached home price is around $765k so about $550 K USD however in major cities Vancouver start at 2 Millions for a rundown house Toronto Ottawa Etc over a Million + and you must do lots of reno's in most of them. This is why a lot of folks are moving overseas because they cannot afford to live in their native country! Good luck to you all
I spent my entire childhood watching my dad fix, paint, build our families home. There's nothing wrong with buying a run down house(cash or close to) and fixing it up on weekends. But you buy direct, with no realtors.
True IF you can get it for a good price. Not if you have to pay an arm and a leg for it
@@neatoketo6238 agreed
As a single guy I just want a home of my own, something I've never had or grew up with and have been working for 10 years to buy. I am fortunate to have a very good career that allows me to live in a HCOL area and be able to buy a new build that is a normal home the next 6-12 months. When I buy a house that will be my only debt, sure I'll need a new car eventually but it won't be a BMW, MBZ, Cadillac, Porsche, etc. It'll be a normal car under $40k probably a Toyota so I won't have to buy nothing for another decade, and still have money to live and a retirement. Thats what we all want a home of our own and not everyone can do that in the massive cities and unfortunately a lot of people haven't woken up to just move to an area that can provide a solid good life. Housing shouldn't double in a 4-6 year period when it has never before and usually takes 10-20 years to do it normally even in the metro. We have to have housing for people that make solid livings.
I’m 33, while I agree home ownership seems completely out of the question… I also know that those around me in my age group don’t even try in any capacity. They blow all their money on short lived dopamine and then complain the system wants them to fail. We have a mindset and mentality problem more than anything else.
WELL STATED...Americans arent capable of being financially stable
100% agree: people expect their lives to be exactly like their parents.
My parents were depression children. My mom told me life is work, worry, trouble and woe. Work, study, save. You will get your reward in the next life not in this life. Trust no one. Family screws your first. No good deed goes unpunished. How do you expect nations to get along when you don't get along with your brother. Human nature is like water it's seek it's lowest level. The last good man on this earth was nailed to the cross. If your healthy you are rich. No whining or complaining.
@@therizza3704 and then they become waiters.. waiting for their parents to pass instead of truly enjoying the human experience with them.
Exactly. Sure, there could be more nonsense to contend with, but there is way more opportunity today. You just have to focus. I just turned 33, grew up in serious poverty, and now I own a house and have three kids. A lot of people are just lazy and want to be pampered.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.
I'm surprised that you just mentioned and recommended Charlotte Miller, I met her at a conference in 2018 and we have been working together ever since.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
My american dream had to be downsized to buying a van and living down by the river just so that I can have disposable income. I wish I could afford a family or even a girlfriend, but just staying alive is making me broke. My life is quickly running out, but I am still single and the best I could hope to do in the immediate future is not be a financial burden.
The real problem is the people that are in their current homes are starting to be late on mortgage payments. I work for a small credit union and over the last 2 years the trend has been people running up CC debt, then being late on payments on the cards (or car loans and personal loans) now I am seeing a lot more people paying mortgages late or getting to the point where foreclosure and bankruptcy is happening. About a month ago we had a member voluntarily give in their car to us and they are filing bankruptcy. Currently they are behind on mortgages and multiple loans totalizng over $300,000
The affordability crisis will force prices down. Not only are people on the sidelines as renters, but MANY people are in houses and cannot make their monthly payments. This along with daily living expenses, is the "math'" that does not add up.
Buying a house is not a luxury, having a place to live is a necessity. We have allowed corporate America buy up whole neighborhoods in the name of profits. And then their rents are also over the top so Adam, we are broke because the cost of shelter is dictated by greedy business by people and they are colluding with each other to do it. That is the truth. Just like the meat processors are colluding in pricing to the ranchers. Who owns meat processors? Probably the same market equity companies that own single family homes. Market equities are destroying our world
The reason why it seems like it’s out of the question is because no one likes to sacrifice in order to save. Everyone’s comfortable buying $300+ shoes, a brand new car, having 5 or more “buy now pay later” installments, or thousands in student loan debt. Americans feel entitled.
Poor people are the worst real estate buyers. They want glitz over function because of all the social media. Few would look at a fixer upper and be willing to do the work to make it a nice home. You’d surprised how many poor people have nice toys,
many have big screen TV’s, $1k phones, $cars,etc.. (2024) When I was a paperboy as a kid had a route with a lot of Apts with lots fancy cars and the people dressed well..but they couldn’t afford to pay me my $3 for the month. (1968) Things don’t really change..
The houses in the Columbus, Ohio, neighborhood featured on 'Drugs Inc.' for heroin are going for $225k and up.
Nice fun fact. I mean depressing fact
I think that I was discouraged from buying a home in the H&R block said to me that home prices were so inflated in California that under my current salary on a home was out of my price range, considering the current cost of ownership at the time and the fact that I had to take a loss from my previous salary after I moved to my area. That helped me have perspective in terms of homeownership, cost of maintenance and repairs, home insurance, and other costs associated with homeownership.
I’m 30, no kids, single, and I have a “good job”
I’m still wasting away 70% of my salary into rent and I am physically unable to save more than $60 a week.
People need to start building their own homes again. The Builder racket is the problem.
3:45 I heard this all 2021 waited waited waited got beat by cash buyers interest rates kept skyrocking home prices increasing till 5.6 locked in now at 7-8%
It's not just inflation. REITs and companies like Blackrock raised their rents much higher than inflation.
Sad times right now . Thank you for your insight.Great work ❤. Much love from WPB.
I’m 27. Bought a house a year ago even though rates were high in Los Angeles. I started my business when I was 21. I didn’t need a co signer. If you wanna be able to buy stuff you need more income. Start a business and work your butt off.
Oh gee. Why didn't I think of that. Let me just start a business with money I don't have
Drive beaters, Reduce Insurance costs, and work 16 hours a day being paid for every hour. That is the way to afford a house these days.
People are completely overlooking mobile homes. I know that may not be your “dream home” but for 70-110k you can get a REALLY nice one with modern interior and 3+ bedrooms, the trailer park location obviously affects your experience. Just a thought
Hope the algorithm shows PBD me fast forward through Adam talking.
You are forgetting leverage. Invest $25k with 10% return you get 27,500. Invest 25K in real estate you get $29K plus monthly payments while retaining the asset.
Housing is exactly as affordable today as it was in 2000.
I can prove it.
And the video on “stocks” appreciate more than real estate”
Yes.
And rentals cash flow. Tenants pay off the debt.
The appreciation is levered.
The depreciation is levered.
You missed what the asset class is all about.
I am 38, and I was able to buy a home on a single income with 2 kids and one on the way. I would love to tell my story on your show. I am not rich. I'm just an average person, but I have been able to do a lot with the little I have.
Single people should get a mortgage instead of renting. It helps to reduce the high taxes singles pay. My tax experience has been way better since I bought my house and I pay less than renting.
You pay less than renting after mortgage property taxes respairs?
@@Dividendsmattertoo my mortgage is $1500 for a 3br home and rentals for a 1br is about $2000. I’ve also receive $1000s in tax benefits I’ve never received as a renter.
If you rent you will always worry about a place to live, rent going up. If you buy a home you lock your monthly mortgage for 30 years. It won’t ever go up.
That's why I'm moving to south east Asia. I've learned to daytrade over the last 3 years. Now I'm just creating a cushion. Then I'm out. I'm not gonna wait for this country to get it's shit together any longer.
Are you consistently profitable?
Any advice on where to start?
Lets start addressing where we need to go and what needs to be done. We should not, as American people, accept that this idea of home ownership is dead and done.
They are ignoring the other half of owning or having an investment property. If you own, your mortgage payments are going toward an asset once you add that in that changes that 4% number they are talking about. If you have an investment property someone else is paying for your mortgage and eventually paying you depending on how choose to manage it.
House prices going up so fast, cannot save the 10-20% while prices escalate. Chasing the dream is almost impossible nowadays.
Real Estate isn't the only Asset you may leverage,you may leverage Investments including Contracts,Gold, Silver, Stocks, Insurance,businesses. If you know what your asset you want is & you need some more $ to get it, look into leveraging. For every successful deal,had 2 unsuccessful deals but haven't given up. Key is not giving up & limiting Risk.
When property tax is $2000/mo why even try and buy a house?
This strikes me as tone deaf. It has been a long time since they talked to people that are not in the 1% and it shows. Patrick is a true investment advisor. Doesn't matter if your client makes or loses as long as you get the commission.
They keep buying new cars! Stop 🛑
No one wants to mention that elephant in the room. Increased housing demand and stagnant wages is due to unlimited immigration legal and illegal. Ask Canada.
Detachment Syndrome...when a person and/or group is so far detached from reality, it shows like a farmers tan. It's actually pretty simple math if you're not part of the problem you're analyzing.
It's was canada 🇨🇦, now it's America 🇺🇸 😢😢😢😢
I'm 39 years old, 3 kids. Just my weekly grocery purchases and home necessities drain 75% of my check. I had to borrow out of my 401k to replace the tires on my car.... I wish I could afford a house. Ny state is ridiculous.
If the population is not keeping up with replacement 2.2 kids per . How come there is never enough affordable housing?
Immigrants
people forget about th insane property taxes
And people still believe that the US is great 😂
My home in Florida doubled in value between 2018 and 2020 and now it's down by a good chunk since Biden.
God bless u guys. Keep up the good fight 👍🏽
How many people choose to wait on the sidelines when they were cheaper? How many crash bro CZcamsrs advise people to wait on the sidelines?
So happy to have invested in my first home in 2012 at 22 years old instead of going into debt like my peers for college. Bought it for 123k fixed it with less then 8k sold it a year later for 189k bought my second home for 224k lived there for 4 years while renovating sold it for 380k then in 2019 bought a home for 430k I’ve put about 100k into it and it’s appraised at $970k. I won’t sell this one because it’s the home I want to raise my family in. Being less then 1 hr north of NYC I know even if the marked drops it will be worth more then what I’ve put into it but getting a home equity loan to pay off the renovation costs has been a failed endeavor. I was 2 years too late to have used my home to invest into a rental property like I planned after graduating HS in 2007. The real-estate path to financial freedom has been taken away for the average American coming up from nothing. Fuck the system
Aussie on the chat line here.
As most around the globe know Australia's housing affordability is a dis-service to its future generations.
This is part and mostly due to recent government high intake of immigration. Further more it is also due to a government policy called "Negative Gearing"
Negative gearing is a MASSIVE tax advantage where you are able to make a claim on All if not a huge certain percentage of your buisness OR Income tax against any Negative earning that went towards your investment property. All in the while that same asset is increasing on average 10% per year or in the case of the past 3 years my town house going from 310k purchase to 598k evaluated 75 odd % give or take . ( I am actually not a fan of this as it makes people harder to buy their first home)
My question is.
Does the US government have anything similar to this? As I am wondering why a house is Texas is 275kUSD but yet a home in Brisbane is 800k - 1mAUD those numbers in Texas may not be bang on and I understand the exchange rate differentials but it just seems ridiculously strange
Would love some feed back
Real Estate provides what I like to call The Trifecta effect and you guys are only talking about 1/3 of it when it comes to having real estate. Appreciation - Passive income - most importantly Tax Incentives if implemented correctly to offset income and kick the can down the road. Additionally, owning real estate also provides physical and mental stability. Real estate provides a path to true wealth and I’m only seeing the wealthy take advantage of this. Estate planning, Cost segregation method, bonus depreciation, offsetting w-2 income, and so much more. Also - you can get a home with as little as 5% by leveraging FHA loans or even having the seller pay for your closing costs and you just have to bring 3.5-5% down.
I’m 34 single bought a house in May built an apartment. Rented it this month and I only pay $1,000 out of my own pocket for a mortgage. Make over $100K a year. Had to buy a fixer upper but I made it work.
Anyone who’s cracking the speakers about being rich and out of touch should remember, they came from nothing and took huge risks along with educating themselves. I like PBD and Tom, Adam and Vinny
Cash on cash return is why real estate is appealing to us plebs
there is a small $25 fee for processing a VA home loan. This fee auto makes all vets offers for homes go to the bottom of the offer stack because there are fees attached that other offers do not have
People are not living! They are surviving!
Department of Agriculture Rural Home Loans are ZERO DOWN
"just get a side hustle bro" holy shit tone deaf.
People are just going to have to move out of the cities, period.
Just remember you can usually renegotiate your mortgage during the life of the loan but you only get one chance to negotiate your purchase price. If you buy an overpriced it will be your downfall until you get out of it. This market is still way over priced
I'm really sick and tired of the "and if you're single with no kids don't buy a house" rhetoric coming from the guys on PBD. Easy for them all to say as multimillionaires. Well, maybe I'm in my late 30s, unmarried, no kids, and maybe I don't feel like freaking renting a two bedroom apartment for the rest of my life. Maybe I want a place that I can actually call my own, that I can decorate and paint and fix up and do things to instead of being a rent slave living in someone else's property. I can't understand how they think that people would just be OK with this indefinitely. Like no big deal. Absolutely tone deaf take.
Renters are to blame for us having unattainable home prices…can’t have your cake and eat it too
Most people don't need a home if you can't take care of it you ain't got no business with one
We're all just one tax increase or insurance drop away from that statement bud
The problem is rent is also too high.
My kids said the same thing in 2007. Then the crash. Be ready for it. Set yourself up for success when prices come down.
How can one be ready once the crash happens?😊
@@getrightconstruction1342 Stop buying shit you don’t need. Get out of debt. Then you will be ready to buy when everyone is selling.
One more factor that would effect the affordability crisis is the NAR settlement. It would make it much more difficult for first time buyers to afford a house. That was the worse thing that could have happened to buyers in today's market.
They keep on talking about how real estate returns are lower than stocks. While true on the total value of asset, this is incorrect in terms of the average person. Why? Real estate home owners or investors are able to more effectively use leverage (and tax rates incentivize home ownership or landlord). Ie I can effectively own a 500-700k property with 100k down. A retail stock/bond market investor can only really invest in 100k worth of assets with 100k. It is true a single person with extra cash should likely just put money into a good etf/mutual fund and almost forget about it, but simply looking at returns between the two is not effective way of evaluating the two. A 100k down payment could turn into 200k much quicker and is more likely in real estate for an average person than 100k in the stock market.
SOUTHERN CALIFORNIA ANY HOUSE IS ATLEAST 550K AND UP
If you can't afford the house down the street move. Apply for a job in a different state. That 350k house in one state is 250 in another.
Oh, sure. Let me just uproot my whole life. Leave family behind. Start over in a place without knowing anyone. Separate my kid from his friends and community. All that in pursuit of shelter that I'm going to have to grind to pay off for the next 3 decades.
@RogerWareInc in order to get opportunity you first have to seek opportunity. I didn't say it would be easy. But yes, if having fincial freedom and owning a house requires you to move then it's a choice you have. But if you chose to stay renting never owning anything that too is a choice. My closest family member is 5 hours away. The furthest is 22 hours away.
@@johnathanryan4430sadly in todays world you gotta tell your family & friends to kick rocks.
You can always replace friends and family but a home;that’s for life 🙏
"The American dream isn't dead you just can't afford to buy a house in the suburbs anymore" So the American dream for a lot of folks is dead got it. People rely on having a paid off house in retirement age to lower their overhead. Adam strikes me as one of those "Maybe people shouldn't ever retire" people.
Every single person I know who's renting is trying to move because their lease renewal is going up astronomically. By 30-80%, in one year. So there are reasons that buying is becoming out of reach. But "zero" reason to buy? No, renting sucks right now.
PBD remember we are in a fourth turning. At worst the Dollar looses it's status and reserve currency status. The Bricks countries are rolling out a new reserve currency backed by gold and other commodities. The unbacked fiat Federal reserve notes purchasing power will continue diminishing.
Our national debt and poor fiscal policies will accelerate the US dollars demise.
Other countries fiat currencies and fiscal irresponsible policies will implode before the US. We will see things happen around the world not seen in any of our lifetimes. Events not seen in 100 years.
Prepare yourselves physically, mentally and spiritually. Fight the good fight. May God bless you and help you shine the light of Truth through the darkness.
Even if you pay off your house you still don’t own it. Ever increasing property taxes and insurance rates will cause you to lose your house.
Did you factor in the money paid down on principal instead of renting? Those nunbers would look significantly different
The real estate bubble must burst now
Home prices will go down. This can't maintain.
Don't worry...the American economy will crash soon...and it will be ugly for everyone