You are so right. Government can never solve the problems of the market. All they need do is get the hell out of the way but the corrupt bastards are too entrenched in their own failiure to do that. They will screw themselves and all of us with them before they are forced to admit defeat.
Manufacturing is 11% of GDP in America. That means the middle class worker is fucked. Fuck the middle class worker and you have screwed the buying power of the masses. Send some more jobs to China so American CEOs and Wall Streeters can exploit low wage labor. Lets see what 9 % gets us.
@quadcatfly How long ago was it that gold prices were all an all time high? All of those ad's on TV about buying unwanted gold in your house, I knew well not to sell any gold!
what about tumbleweed homes? I think that might be a boom area. I see people going to 12 step groups and almost all of em are depressed and near suicidal due to working too much, worrying too much, and reevaluating their biggest expenses.
The system is by design being taken down , what do you think all this Sustainability Climate change rubbish is about . There preping you psychologyly for the new system there setting up for you . . . . . Think hard people there s bigger game going on . You must destroy the old to bring in the new , simple stuff .
Our financial system punishes savers, and rewards risky debt holders. The reason is simple, banks leverage their money anyway so there's no incentive for them to hold cash, so they don't care about people who save money.
The next time you are driving around, keep your eyes on lots with no structures. You will notice quite a bit. They are slowly decreasing the inventory people. There will be a housing shortage in about ten years.
What are you guys smoking? Do you think the government will let real estate drop to depressional levels in established areas like Orange County? The government is going to tear down half of Riverside and Corona before they let Orange County or Sad Diego County crash. Run as fast as you can from Riverside, Inland or areas east of LA and Orange Counties.
Sorry fellas. There is a black swan. The government will bulldoze excess inventory. Just watch. We will see homes appreciate. Detroit is planning to demolish 10,000 homes. Other states will do the same.
Buy real estate in establish areas like Orange County, CA. Run from Riverside and the Inland Empire.
I know it sounds insane but in about ten years, there will be a housing shortage. Just watch.
so with most houses selling for less than what they would cost to rebuild does not that mean the bottom must be close by?
I sold my 2 houses at the 2005 top and when I see great homes at 40% of their bubb;e prices I am very tempted to buy a farm, grow my own food and buy off grid power
there has been a building moratorium for 3 years. People still need a place to live-pent up demand. Those that buy now(rates are going up and prices in 1/2) and those with rates 5% or less will be paying back their mortgages in inflated $.
Those still renting will be paying double and triple the rent
It Depends, but Florida is awesome and you can buy a waterfront house with a Boat Dock (i.e., Freedom, Fun, Parties steps away) for under $100K in many parts of the state.
china is now under control of the same banks that almost the rest of the world is.. they can blindly print money just as the federal reserve does. there are three countries in the world that DONT comply with the world banks.. and they are Iran, North Korea, and Venezuela... or as bush would call them "Axis of Evil"... that in itself should disturb all the non-believers of the NWO "conspiracy" .... best wishes brother
But on a lighter note there is a job fair tommorrow for 300 government jobs at the shipyard an they usually hire people right out of high school an either send them to shcool or they join apprentice program .I have had 2 of my friends get hired last year an another going to the fiar tommorrow.
the masses have always followed propaganda ,it why propandanda has always existed ,and it is so powerful ?The reason why so many are quick to belief the parrot press (recovery,recovery),is because money has been the driving force in the life of the majority ? so many say money does not make you happy and then spend there whole life chasing money ?the titanic is sinking .
re: comments on the "give away" yeah that would be great, but it would have "only" taken 14 trillion to pay every mortgage and credit card debt, student loans etc... of every american...wipe out all our debt and yet bushbama gave how many trillions to foreign banks? it's well over 40 trillion now? or more? the banks are the slave owners and we're their property. don't pay your taxes? your house is gone. or you go to jail or have your wages garnished etc...you're not free but only in your mind
The time to buy is when the location and labor of a particular property is undervalued. In other words could you have the same property built at that location today for that same price. If you can not it's time to buy.
A sign of an unhealthy, over-regulated market is people not buying houses because they've been saving and can afford to, rather people feel they can't afford not to, have no savings and need money. Flippers would probably never made a career out of this in a free market.
It seems to me, the only thing that is going to make things better is massive inflation and the government certainly has the power to creat that. Does anybody have any thoughts on that? I would appreciate hearing from you. Thanks
I don't have to get past the first 10 sec., of these vids to know what this guy is going to say anymore. About 3 years too late on his predictions! The real estate market is bad? REALLY? Are you sure? Wall street is going to lose money? It is simple people-- Unemployment is going up? Recessions-- 1972 1983 1991 2000 2008 Not ONE of you better be surprised in 2016, or 2017 or 2018 I wonder what will happen....
it could be worst but the realitors are controling the rate of homes listed at this time. by controling supply they are keeping the prices high. you should be happy just to have a home at that point. the ones unlucky enough to be four closed on? its the end of there lives.
Heavy hitter real estate investor? Lol. If he was a heavy hitter, he would still be working the market. It is still hot. Homes are still selling for more than list in LA.
I'm one of the renters in England, and it's even worse over here.
The debt-freaks are getting all the rewards for their big rush to embrace debt, and those who've saved, rented, waited, are totally getting shafted.
Mortgage rescue schemes, local gov buying out the mortgages of debtors with taxpayers money, and letting them rent instead. Anything to stop the market correcting and to shaft those who were saved to buy. There are 2 boomer c*nts in the UK who own 800 first time buyer homes.
Listen sheeple, the banks never never never give away homes. EVER! Capitalism is for the poor, socialism is for the rich in this economy right now. People not making payments will get kicked out eventually, really right now they're getting free rent. Capitalism is only in play when the rich are benefitting from it. It a game being played, middle class is being screwed and deserves to be because of their ignorance, they'd rather watch football than look into anything important.
I cant add too much to this, you guys have it covered
I think Celente was right, small businesses will start in homes across the country, and many of the big stores will not be able to stay afloat, that is unless our government steals from us through taxes and gives it to them to stay there.
I agree but I would go a step further and say the economy is actually collapsing. Essentially the government has changed our system over night, as said in the video, and we all know, so the economy as we have known it is already done. It's working it's way through every industry, type of job, etc right now. Just an observed opinion. What do you think?
I love this Free Market Capitalism!!! It just doesn't get any better. I love all this freedom. I have the freedom to work myself to death and live in poverty.
but wait, aren't the Republicrats the ones who have been in charge all this time?? 1999 - repeal of Glass-Steagal - Clinton; 2003 - onward - Ninja Loans - subprime loans - CDS - CDOs - hedge funds - Bush; 2008 - $2 trillion in giveaways - Bush; 2009 - $12 trillion in giveaways - Obama.
So where's the "evil" communist stealing America's money?? It looks like ALL presidents have the same plan ...... that they're given to follow.
Most homes in the range of $300,000 have loss value of $100,000, will they continue to drop? I think so, in California and Nevada it's taking place. Gold might reach $5,000 per once this will drive the value of the dollar down.
I worked for a development company that owns a complex of luxury apartments situated among 115 commercial spaces. The apartments are at 60% capacity, the commercial spaces are only at 40% capacity, and have not been above those levels since the place was built 2 years ago. Regardless, the company is building ANOTHER complex of almost the same size, IN THE SAME AREA. At a dinner party I asked the owner why he was doing this when most of his property was empty. He looked at me like I was crazy.
Just saw it - really good movie. But I believe the situation in that film came about due to planetary-wide natural devastation, like massive global earthquakes. Not clear if economic devastation will have same effect.
This is a Depression, housing market will continue to fall! The whole system is coming down, what the Obamanator and Co. is doing, is just buying time!
I got in a big argument with my property manager for my store. My lease was up and they wanted to raise my rent. I said no. I told them they should be lowering my rent if anything.
I negotiated a new lease for 3 years at the same rate I have been paying the last 2 and then a 50 cent psf increase for years 4 and 5.
This rate is at or lower than the rent at all the other locations in my area I checked into.
The health and wellness industry is one. Yes, government is planing to take over health care but that will only grow other sub-health industries. People might start looking into eating healthier and the supplement industry is growing. Why do you think government wants to take over health care? Tax Revenue! In the U.S.A. the baby boomers are at the age where they need health care more. That's not going to stop with a government take over. Maybe I should of said sub-sectors.
Friend of mine thinks he'll make a ton of money selling his house like pre-crash. I tried to tell him the real estate market is ruined but he was somewhat in denial.
abstract valuations along with lack of liquidity will kill sales as buyers lowball along with lower appraisals and sellers with their heads in the clouds.
disagree about 25-30% leverage staement. dont think so; based on todays valuation that would put them at worst ad valorem; true the unfactored carry costs including management, accounting, and legal make commercial unattractive.
Good video. My parents are waiting for the housing market to come back to sell their 2nd property. They never wanted two, but they bought their retirement home before they sold their 1st house. I know, they are economic idiots. But the point is that we use to get 4 or 5 lookers each week, we have not had one looker for 5 weeks now. Our taxes also price the 1st home out of the market, $7200 a year for a home valued at $210K, nuts just nuts
I noticed they raised the taxes on a piece of property I have in an area that is not being developed which leads me to believe there doing it because they need the income not because the property is worth more.
Who are the beneficiaries of the accounting rules that allow the bubble to persist? It can't be just the banks since they can now buying treasuries with effectively free money. Why do they care about market price?
Wait, govt is printing the money to bail out the banks & the banks are buying treasuries to bail out the govt. Man, the US is going to collapse due to simple basic economic forces.
The main reason why they care about the market prices of the forecloser homes is the capital requirements for the banks. BoA is probably sitting on the largest amount of foreclosures because they had bought Countrywide Mortgage. If they go to court and finalize these bad loans, they will have to recognize the loss. As it stands now, the banks just keep them on their books as an asset. How is that for Crooked accounting?
Nice 2010 Cadillac SRX George. So that POS Volvo is the car you do interviews in, and that 2010 Cadillac SRX you have is your daily driver I'm assuming?
I AM STARTING A MOVEMENT IN THIS COUNTRY. IT IS A STATEMENT. THROW EGGS AT GLASS WINDOWS and DOORS OF 2 BIG 2 FAIL BANKS!!!!!! Appoarently we are too little to GIVE A SHIT!!!!! The asshole media, banksters, Corporations and our government cannot or refuse to hear our cries and feel our pain. They spend our money as we lose our jobs! Lose our homes! Our children are starving! So go out there and throw eggs at them!
Yes, if you look at the Kiplinger studies of median home price versus median family income, going back 100 years in the USA, the ratio has averaged about 2.5.
Example: Your total gross annual income is $50,000; the house you buy should be about $125,000. BUT, this ratio has been 6, 7, or even 8 in California during the Bubble, & it is still at about 5 in Calif--Too high. I live in a Heartland city where the ratio is about.....2.5! (And prices dropped around 2% here last year--no Bubble here.)
This is very, very true. My in-laws paid off their home recently at around $300K only to see a similar house down the block go on the auction block after foreclosure and draw a maximum bid of just under $100K. The bank didn't take the deal but the market is the market. The homes on that block are down 66% but because the banks are sitting on the foreclosed properties it's all being hidden. This is a nice suburb near Chicago where home prices are supposedly stable.
I lived and worked in Las Vegas in 1960's 1967 and 1968 after graduating from school and times were good. The Tropicana Hotel where I worked was only a three story building and the Strip was beautiful. Now I look at this messed up City of Ruins from over speculation from people who thought the party would never end but it did. Oh well it's going to get worse and the real bad could come in the form of another country such as china looking to drop off a few million people on our land for CHEAP!
There is a rather large nationwide group of non-partisan folks from every state you may wish to check out called the Oath Keepers whom are strictly constitutionalists and will protect the rights and freedoms of the citizens. They are comprised of military folks former and present, police, firemen, civil servants and civilians. I encourage anyone who cares about their freedoms to check them out online.
There are parts of California where the housing value is holding very well. LA was over built and has been for a long time, in fact the investors were building vast housing tracks out in the middle of the desert, where transportation, utilities and water were hard to come by for years. California Valley for instance. One side you might find water if you drill down far enough, the other side..dust.
Robert Kiyosaki is an idiot. Number one, he won't tell anyone where his rental properties are. He says he is afraid of being sued. Wouldn't you want to toot your horn and advertise where your properties are.
Second, does he even own property?
Third, he is going to lose his shirt since he advocates borrowing money! He deserves to get beat.
well this guy needs to spend more time looking for a job and less time thinking about doom and gloom. Times are hard right now. sure. You can still find a job if you really want to work. Haiti is shtf time. We are no where near that as of now.
George showed us a video where he got a check from his you tube & internet activity. He's self employed. The reality can be demoralizing for those not ready to put it into perspective. Haiti has major problems because the US destroyed their ability to produce food themselves so that US Big Farmer can export food to them. Americans can go back to gardening in no time flat if we suffer that kind of devastation.
Please. Don't blame the U.S. for Haiti's problems. Haiti should be thankful we are even helping them right now. Look at the Dominican Republic. Same damn island. It is a world of difference compared to Haiti. The Hatians slaughtered all the white French back around 1802. They are unable to organize themselves. It's the poorest country in the western hemisphere. Lol right it's America's fault. Bullshit.
You are right on the money. The average per capita income in Dominican Republic is six times that of pre-quake Haiti. Part of problem is French colonialism---Most French colonies ended up as basket cases. Spain's have generally done better, and Britain's have generally fared best of all. French colonialism was the kiss of death, combined with genetic, spiritual, cultural, & other historical factors--All combined to make Haiti a virtual failed state & enviro disaster.
Your perception of reality hasn't adjusted fully yet. Get out and talk to others and you will learn what is reality right now. In years past I would have agreed, you could find a job if you really wanted to. Right now you cannot.
My perception of reality is fine. I live in Northern Virginia and I am right next to Washington D.C.. the economy around me is fine. The only time I have thanked the Federal government. I have a very secure job at the moment. I just got two job offers last month. It depends on what part of the country you are in . It depends on your education. It depends on how determined you are. I will not fall into the doom and gloom mindset. We are Americans. We will fix this.
Even with our three properties here in France fully paid for long ago, we are beyond fed up. Prices are still artificially high. Good video, widely shared, five stars. See, if we sell, with these still-too-high prices, where can we buy? And why move? So here we sit. And I'm unable to go back to the States and help out because I cannot get healthcare there. I warned them, they were losing me, a taxpayer, 15 years ago, and they didn't care.
At what point do you just walk away from your home, credit cards, and cars???? If my taxes paid for the bailout, who is bailing me out??? My credit card interest rates were increased to 30% and I have a great credit score. It is a joke. Georges friend is right - dont Hope - it is worthless.
@PeakedEarth, if all you can do is pay interest on debt you are technically bankrupt. you should look into bankruptcy option. if you can never pay it off obviously bankruptcy would be the way to go.
In what timeframe and at what expense? If I can pay it off in 30 years living in a tent eating bugs, do you keep paying? Seriously - if it is going to take 5 years working 3 jobs, and at the end you have nothing to show but 0 balances, do you pay? I am speaking hypotheticlly, but it is a real question many have to face.
Bankruptcy? If you have a mtg & car loans & credit card debt possibly, consult a lawyer. If you just have credit cards, it's an unsecured loan, you only need to default and send them a letter within 30 days so that they can only contact you by mail and not by phone. My credit card rates jumped this month from 11 & 14% respectively to 32 to 35%.
Banks are holding a crapload of assets still that they have to get rid of. I have sources in the FDIC that tell me they are getting prepared to take care of this during the spring.
AEVautomatic: Stay away from PRO shares. Look at the class action suits against them. When their ULTRA shares make money its 2x but when they LOSE money it's way way more than -2x. Just google "proshares ultra class action"
5 stars Excellent points. We have similar in the UK the ones who get big handouts from the government while old folks who saved for their retirements are seeing their savings dwindle because of the "economics". Think it goes something from each acording to his ability to each acording to his need. Except for many of the real needy the ones who did work to try and get a home are being dumped on. Mix in a central bank, and of we go down the red brick road. Cheers.
people who have hope strike fear in the hearts of these bankers...guys like Mark Cuban scare bankers to death because these guys have made it against all obstacles...if I was a banker, I'd pay someone to put up videos like this telling people that they can't win and to get out of the market, then I can buy all the real-estate up without competition
guys, these videos aren't good for you...you need hope...don't listen to these guys...they probably don't want you in the commercial real-estate because they want it all for themselves, they don't want any competitors...you never know who is behind the camera and what the background of these guys are...they probably work for the banks
Great video George. A $300K home in my North Texas neighborhood sold for $150K this month. Prices are falling dramatically. I wish Corey good luck in his RE investing business since prices have a ways to go before hitting bottom. Thanks for your videos.
real state doomedm, tungod sa crisis, wala nay mamalit.
StroonsGlen 2 months ago
Comment removed
sha370z 3 months ago
there is no crash believe me you dont understand shit :) really guys sorry
VENNY046 8 months ago
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grotesqueposter0F 10 months ago
I just had to comment on your video....wow, really!
TheREIMaverick 1 year ago
It is sad, those who thought they were getting a steal in 2008 and 2009 and bought at Auction, are already underwater.
Bradlee883 1 year ago
You are so right. Government can never solve the problems of the market. All they need do is get the hell out of the way but the corrupt bastards are too entrenched in their own failiure to do that. They will screw themselves and all of us with them before they are forced to admit defeat.
karveljay 1 year ago
Manufacturing is 11% of GDP in America. That means the middle class worker is fucked. Fuck the middle class worker and you have screwed the buying power of the masses. Send some more jobs to China so American CEOs and Wall Streeters can exploit low wage labor. Lets see what 9 % gets us.
rickbar123 1 year ago
I have three words for you... BUY GOLD !!!!
quadcatfly 1 year ago
@quadcatfly How long ago was it that gold prices were all an all time high? All of those ad's on TV about buying unwanted gold in your house, I knew well not to sell any gold!
IppatsuTensei88 1 year ago
what about tumbleweed homes? I think that might be a boom area. I see people going to 12 step groups and almost all of em are depressed and near suicidal due to working too much, worrying too much, and reevaluating their biggest expenses.
fedtheend 1 year ago
The system is by design being taken down , what do you think all this Sustainability Climate change rubbish is about . There preping you psychologyly for the new system there setting up for you . . . . . Think hard people there s bigger game going on . You must destroy the old to bring in the new , simple stuff .
ozzycriss 1 year ago
nothign different today than any other cycclical market down turn.
circusboy90210 1 year ago
Our financial system punishes savers, and rewards risky debt holders. The reason is simple, banks leverage their money anyway so there's no incentive for them to hold cash, so they don't care about people who save money.
monkeyman1140 1 year ago
The next time you are driving around, keep your eyes on lots with no structures. You will notice quite a bit. They are slowly decreasing the inventory people. There will be a housing shortage in about ten years.
eatandtravel 1 year ago
What are you guys smoking? Do you think the government will let real estate drop to depressional levels in established areas like Orange County? The government is going to tear down half of Riverside and Corona before they let Orange County or Sad Diego County crash. Run as fast as you can from Riverside, Inland or areas east of LA and Orange Counties.
eatandtravel 1 year ago
Sorry fellas. There is a black swan. The government will bulldoze excess inventory. Just watch. We will see homes appreciate. Detroit is planning to demolish 10,000 homes. Other states will do the same.
Buy real estate in establish areas like Orange County, CA. Run from Riverside and the Inland Empire.
I know it sounds insane but in about ten years, there will be a housing shortage. Just watch.
eatandtravel 1 year ago
u can still make money, i can buy 10k houses all day long in fl and sell them for 20k
WONDOCTORJ 1 year ago
so with most houses selling for less than what they would cost to rebuild does not that mean the bottom must be close by?
I sold my 2 houses at the 2005 top and when I see great homes at 40% of their bubb;e prices I am very tempted to buy a farm, grow my own food and buy off grid power
unameitltd 1 year ago
why does he do every video from inside his car?
ELLDEE321 2 years ago
in case the crash comes he can drive away as fast as he can lol
MrYebby 2 years ago 3
there has been a building moratorium for 3 years. People still need a place to live-pent up demand. Those that buy now(rates are going up and prices in 1/2) and those with rates 5% or less will be paying back their mortgages in inflated $.
Those still renting will be paying double and triple the rent
breckandy 2 years ago
thanks for stating the obvious
Arstaichio 2 years ago
I live in PA. I have a home paid for in PA. I want to move to FLA. I am not sure if I will sell my PA house...What do you suggest???
Drav1212 2 years ago
It Depends, but Florida is awesome and you can buy a waterfront house with a Boat Dock (i.e., Freedom, Fun, Parties steps away) for under $100K in many parts of the state.
BringBackCapitalism 2 years ago 2
whats your take on home price increase by 1.1 % in AZ?
bodani 2 years ago
AZ isn't bad. Might actually be getting close to a bottom, but a 1.1% increase isn't much considering how far it's dropped.
BringBackCapitalism 2 years ago
why is there so little information about the fake gold bars china received in october 2009 ??? it was from fort knox !!!
reginald58 2 years ago
china is now under control of the same banks that almost the rest of the world is.. they can blindly print money just as the federal reserve does. there are three countries in the world that DONT comply with the world banks.. and they are Iran, North Korea, and Venezuela... or as bush would call them "Axis of Evil"... that in itself should disturb all the non-believers of the NWO "conspiracy" .... best wishes brother
7996hobguy 2 years ago
@7996hobguy
Hi do you think Taiwan does not comply to world banks?
ycformosa 1 year ago
of course they do
7996hobguy 1 year ago
But on a lighter note there is a job fair tommorrow for 300 government jobs at the shipyard an they usually hire people right out of high school an either send them to shcool or they join apprentice program .I have had 2 of my friends get hired last year an another going to the fiar tommorrow.
Peace
Hybrid5226 2 years ago
Dont call me norman call me chubsy upsy
neanam 2 years ago
the guest is cute.
turboredcart 2 years ago
the masses have always followed propaganda ,it why propandanda has always existed ,and it is so powerful ?The reason why so many are quick to belief the parrot press (recovery,recovery),is because money has been the driving force in the life of the majority ? so many say money does not make you happy and then spend there whole life chasing money ?the titanic is sinking .
spectre1929 2 years ago
re: comments on the "give away" yeah that would be great, but it would have "only" taken 14 trillion to pay every mortgage and credit card debt, student loans etc... of every american...wipe out all our debt and yet bushbama gave how many trillions to foreign banks? it's well over 40 trillion now? or more? the banks are the slave owners and we're their property. don't pay your taxes? your house is gone. or you go to jail or have your wages garnished etc...you're not free but only in your mind
lasagnabro 2 years ago
complete give away by the gov't is not going to happen. Banks wont allow this as they need to collect interest.
chineseal 2 years ago
You can not Force Liberty..You have to just let it happen..
MihiLibertas 2 years ago
The time to buy is when the location and labor of a particular property is undervalued. In other words could you have the same property built at that location today for that same price. If you can not it's time to buy.
VisionQuest2012 2 years ago
I'm sorry, you're saying two things
1) Hyper inflation (where?)
2) This guy in the vid says valuations and equity will never return..
These are two VERY different things.. sorry but you are making no sense with this video.
hwy9nightkid 2 years ago
A sign of an unhealthy, over-regulated market is people not buying houses because they've been saving and can afford to, rather people feel they can't afford not to, have no savings and need money. Flippers would probably never made a career out of this in a free market.
VictoryCough 2 years ago
Next up an expert who says the government is spending too much money!!!
FzSBLACKMAGICK 2 years ago
This has been flagged as spam show
It seems to me, the only thing that is going to make things better is massive inflation and the government certainly has the power to creat that. Does anybody have any thoughts on that? I would appreciate hearing from you. Thanks
czubspenx 2 years ago
MrYoubrian 2 years ago
LOL
FzSBLACKMAGICK 2 years ago
it could be worst but the realitors are controling the rate of homes listed at this time. by controling supply they are keeping the prices high. you should be happy just to have a home at that point. the ones unlucky enough to be four closed on? its the end of there lives.
MATTSHONDRICK 2 years ago
@Freemarket11 you are absolutly right. I feel the same way!
Saborsaoco 2 years ago
Great vid Goerge!!!! Your friend also was great bring him back in a few month for an update, I think he spot on right.
Saborsaoco 2 years ago
Heavy hitter real estate investor? Lol. If he was a heavy hitter, he would still be working the market. It is still hot. Homes are still selling for more than list in LA.
U2ForNow 2 years ago
what market? the market in Fantasy Land?
nilesmc 2 years ago
I'm one of the renters in England, and it's even worse over here.
The debt-freaks are getting all the rewards for their big rush to embrace debt, and those who've saved, rented, waited, are totally getting shafted.
Mortgage rescue schemes, local gov buying out the mortgages of debtors with taxpayers money, and letting them rent instead. Anything to stop the market correcting and to shaft those who were saved to buy. There are 2 boomer c*nts in the UK who own 800 first time buyer homes.
housecash 2 years ago
Listen sheeple, the banks never never never give away homes. EVER! Capitalism is for the poor, socialism is for the rich in this economy right now. People not making payments will get kicked out eventually, really right now they're getting free rent. Capitalism is only in play when the rich are benefitting from it. It a game being played, middle class is being screwed and deserves to be because of their ignorance, they'd rather watch football than look into anything important.
Dean0000007 2 years ago
I cant add too much to this, you guys have it covered
I think Celente was right, small businesses will start in homes across the country, and many of the big stores will not be able to stay afloat, that is unless our government steals from us through taxes and gives it to them to stay there.
phantomcharger 2 years ago 5
I agree but I would go a step further and say the economy is actually collapsing. Essentially the government has changed our system over night, as said in the video, and we all know, so the economy as we have known it is already done. It's working it's way through every industry, type of job, etc right now. Just an observed opinion. What do you think?
freemarket11 2 years ago 2
@freemarket11
Oh yeah,
The nation fucked, we have a front row seat to one of the biggest collapses ever
Our country and probably our remaining freedoms with it will die.
All in the name of saving us
I wish they would stopped helping so much.
phantomcharger 2 years ago
@freemarket11
What happens next will depend on the people, if they are willing to fight for their freedom, they will have it.
BUT, if they want to stay on their collective asses and do nothing, they will get a Ruler.
We in this country have been losing our freedoms in baby steps since the 20s, but we are so far along that we could hop to fascism at this point.
phantomcharger 2 years ago
great interview george..
this guy is spot on
aceyorba 2 years ago 2
I love this Free Market Capitalism!!! It just doesn't get any better. I love all this freedom. I have the freedom to work myself to death and live in poverty.
justaoldslave 2 years ago
Save yourselvs!!!....lol.....END THE FED
petiemac12 2 years ago 2
but wait, aren't the Republicrats the ones who have been in charge all this time?? 1999 - repeal of Glass-Steagal - Clinton; 2003 - onward - Ninja Loans - subprime loans - CDS - CDOs - hedge funds - Bush; 2008 - $2 trillion in giveaways - Bush; 2009 - $12 trillion in giveaways - Obama.
So where's the "evil" communist stealing America's money?? It looks like ALL presidents have the same plan ...... that they're given to follow.
toeg1 2 years ago 2
Most homes in the range of $300,000 have loss value of $100,000, will they continue to drop? I think so, in California and Nevada it's taking place. Gold might reach $5,000 per once this will drive the value of the dollar down.
KamikazeKoscki 2 years ago 4
I worked for a development company that owns a complex of luxury apartments situated among 115 commercial spaces. The apartments are at 60% capacity, the commercial spaces are only at 40% capacity, and have not been above those levels since the place was built 2 years ago. Regardless, the company is building ANOTHER complex of almost the same size, IN THE SAME AREA. At a dinner party I asked the owner why he was doing this when most of his property was empty. He looked at me like I was crazy.
MockeryMadeEasy 2 years ago 2
This is your best interview IMO!
phnixlady 2 years ago 2
Watch the movie "The Road",its about the
near future of america.
whitemanisthedevil 2 years ago
Just saw it - really good movie. But I believe the situation in that film came about due to planetary-wide natural devastation, like massive global earthquakes. Not clear if economic devastation will have same effect.
Trazom24 2 years ago
Very likely "Terrorist" Government attack Vancouver Olympics next month. Do not go!
1stGenGamers 2 years ago
This is a Depression, housing market will continue to fall! The whole system is coming down, what the Obamanator and Co. is doing, is just buying time!
Hendo1974 2 years ago 12
@Hendo1974 I agree.
MikeG11986 1 year ago
I got in a big argument with my property manager for my store. My lease was up and they wanted to raise my rent. I said no. I told them they should be lowering my rent if anything.
I negotiated a new lease for 3 years at the same rate I have been paying the last 2 and then a 50 cent psf increase for years 4 and 5.
This rate is at or lower than the rent at all the other locations in my area I checked into.
PizzaGod 2 years ago
buy stock in lead.. lol poor mans gold.
illbeyourSCAPEGOAT 2 years ago
It's would be hard to contradict anything this guy is saying.
ShillBasher 2 years ago
does anybody have any idea if NYC prices for home prices will decline? they did like only 7%
Rubmer 2 years ago
We are having a major economic depression that hasn't even happen yet.
What do you think?
alex3914 2 years ago 2
Buy only if you can afford it and get a fixed rate....Homes will decline some more but if you can get a fixed rate you will be ok.
petiemac12 2 years ago
buy guns
HandsHeldHigh1 2 years ago 3
world class video.. thanks. keep up the spectacular work.... amazing information.
(sorry i hit the wrong star rate thing.. Ill make up for it later_
cori800888 2 years ago 7
the whole game is doomed.
neanam 2 years ago
I have lower rents from $675 to $625, down to 2 open units - I paid $62k per unit they are for sale at $52k per unit - no luck selling so far
Powdermonkey99 2 years ago 2
Corey is spot on. The free market is not allowed to work, all the wrong people are being rewarded. Obama is an enormous fool!
homertalk 2 years ago 13
Obama is going to give a speech and we'll all be good again.
homertalk 2 years ago 2
The real estate market is in a correction and will be in one for sometime. Not all sectors of the economy are in bad shape.
walterbell2331 2 years ago
What sectors are doing good?
freemarket11 2 years ago
The health and wellness industry is one. Yes, government is planing to take over health care but that will only grow other sub-health industries. People might start looking into eating healthier and the supplement industry is growing. Why do you think government wants to take over health care? Tax Revenue! In the U.S.A. the baby boomers are at the age where they need health care more. That's not going to stop with a government take over. Maybe I should of said sub-sectors.
walterbell2331 2 years ago
What do we do to STOP it ?
465160 2 years ago
Friend of mine thinks he'll make a ton of money selling his house like pre-crash. I tried to tell him the real estate market is ruined but he was somewhat in denial.
Melville10 2 years ago 3
CRE (commercial real estate) is gradually starting to decline. So many empty storefronts here in South NJ.
Melville10 2 years ago 4
5*****
73cupcake 2 years ago
Smart guy. Have him on again, please!
ltlblugrl 2 years ago 5
AAA+
malerror 2 years ago 2
abstract valuations along with lack of liquidity will kill sales as buyers lowball along with lower appraisals and sellers with their heads in the clouds.
disagree about 25-30% leverage staement. dont think so; based on todays valuation that would put them at worst ad valorem; true the unfactored carry costs including management, accounting, and legal make commercial unattractive.
GovWillKillU 2 years ago
Good video. My parents are waiting for the housing market to come back to sell their 2nd property. They never wanted two, but they bought their retirement home before they sold their 1st house. I know, they are economic idiots. But the point is that we use to get 4 or 5 lookers each week, we have not had one looker for 5 weeks now. Our taxes also price the 1st home out of the market, $7200 a year for a home valued at $210K, nuts just nuts
rayme4raw 2 years ago
I noticed they raised the taxes on a piece of property I have in an area that is not being developed which leads me to believe there doing it because they need the income not because the property is worth more.
Hybrid5226 2 years ago 2
Who are the beneficiaries of the accounting rules that allow the bubble to persist? It can't be just the banks since they can now buying treasuries with effectively free money. Why do they care about market price?
SpringboardShop 2 years ago
Wait, govt is printing the money to bail out the banks & the banks are buying treasuries to bail out the govt. Man, the US is going to collapse due to simple basic economic forces.
rayme4raw 2 years ago
The main reason why they care about the market prices of the forecloser homes is the capital requirements for the banks. BoA is probably sitting on the largest amount of foreclosures because they had bought Countrywide Mortgage. If they go to court and finalize these bad loans, they will have to recognize the loss. As it stands now, the banks just keep them on their books as an asset. How is that for Crooked accounting?
PorscheB06 2 years ago 2
Thanks for that clarification.
SpringboardShop 2 years ago
Government sponsored looting.
UU361 2 years ago
YES I agree. The housing bubble burst LAST TIME, the next CRASH will be the commercial RE and trust me, it WILL BE WORSE
BigRocky99 2 years ago
2010 should be interesting year.
TheAthol 2 years ago 3
you should check out commercial property in the evil empire of the irvine company. huge vacancies and they are still asking for too much money.
streetmoney21 2 years ago
nice vid thanks for the post going to check out that web sight
HomesteadAcres 2 years ago
Good stuff and interviews with interesting people.
By the way, why are people accusing you of being a scammer? It is absolutely ridiculous.
geir44 2 years ago
@ 2:38
Nice 2010 Cadillac SRX George. So that POS Volvo is the car you do interviews in, and that 2010 Cadillac SRX you have is your daily driver I'm assuming?
ColdRainyNights 2 years ago
Im ready to move to texas ,just to vote for Medina...
RebelRouserMC 2 years ago
I AM STARTING A MOVEMENT IN THIS COUNTRY. IT IS A STATEMENT. THROW EGGS AT GLASS WINDOWS and DOORS OF 2 BIG 2 FAIL BANKS!!!!!! Appoarently we are too little to GIVE A SHIT!!!!! The asshole media, banksters, Corporations and our government cannot or refuse to hear our cries and feel our pain. They spend our money as we lose our jobs! Lose our homes! Our children are starving! So go out there and throw eggs at them!
ibislee 2 years ago
all of these with interest rates at 0% LOL, imagine when they start going up again it will be a bloodbath
dave997 2 years ago 3
You are the best, keep the good stuff coming.
YouGotTheWord 2 years ago
Great info once again man thanks!
cthreetv 2 years ago
When I hear the word Hope I get visions of Pelosi Reed Obama and Emmanuel and I immediately want to puke.
jonah70757 2 years ago
Great video,smart guy.He's right about Hope,its the most useless of emotions.
Goldsovereignuk 2 years ago
Great video! -John
johnu78 2 years ago
Yes, if you look at the Kiplinger studies of median home price versus median family income, going back 100 years in the USA, the ratio has averaged about 2.5.
Example: Your total gross annual income is $50,000; the house you buy should be about $125,000. BUT, this ratio has been 6, 7, or even 8 in California during the Bubble, & it is still at about 5 in Calif--Too high. I live in a Heartland city where the ratio is about.....2.5! (And prices dropped around 2% here last year--no Bubble here.)
bboucharde 2 years ago
I miss the old "tent city" days George :(
Shanejulien 2 years ago
This is very, very true. My in-laws paid off their home recently at around $300K only to see a similar house down the block go on the auction block after foreclosure and draw a maximum bid of just under $100K. The bank didn't take the deal but the market is the market. The homes on that block are down 66% but because the banks are sitting on the foreclosed properties it's all being hidden. This is a nice suburb near Chicago where home prices are supposedly stable.
ENLIL2000 2 years ago
Give up on hope? Sorry that's something no one should ever give up.
jenniferashley99 2 years ago 3
Hope is pretty but weak
jonah70757 2 years ago
@jenniferashley99 absoluty .
HomesteadAcres 2 years ago
Always have hope, just don't fool yourself, I believe is what is being portrayed. Good advice.
freemarket11 2 years ago
rent is still high. still too high.
mrzack888 2 years ago 3
@mrzack888 In Argentina the rents dropped to almost nothing but no one could afford food.
horsehorsehorse400 2 years ago
more than 1 in 6 on food stamps in tenn.
camathes 2 years ago
Very good video and on the money. Real Estate prices are continuing to drop and when the commercial Real Estate shoe drops...LOOKOUT.
NewAmericaNow 2 years ago 2
I lived and worked in Las Vegas in 1960's 1967 and 1968 after graduating from school and times were good. The Tropicana Hotel where I worked was only a three story building and the Strip was beautiful. Now I look at this messed up City of Ruins from over speculation from people who thought the party would never end but it did. Oh well it's going to get worse and the real bad could come in the form of another country such as china looking to drop off a few million people on our land for CHEAP!
BablyonsKing 2 years ago
One of your best videos. :-)
meshblorg 2 years ago 2
This has been flagged as spam show
There is a rather large nationwide group of non-partisan folks from every state you may wish to check out called the Oath Keepers whom are strictly constitutionalists and will protect the rights and freedoms of the citizens. They are comprised of military folks former and present, police, firemen, civil servants and civilians. I encourage anyone who cares about their freedoms to check them out online.
MrPertinacious 2 years ago
thats what the government wants they want to sees all the properties they can and make every body dependant on the government
SuperGozzy 2 years ago
There are parts of California where the housing value is holding very well. LA was over built and has been for a long time, in fact the investors were building vast housing tracks out in the middle of the desert, where transportation, utilities and water were hard to come by for years. California Valley for instance. One side you might find water if you drill down far enough, the other side..dust.
Boomer1949 2 years ago
Great video. Thanks, man. Can you also do some more vids driving around and filming the collapse? Fascinating. (No sarcasm.)
WOLF333999 2 years ago
Robert Kiyosaki is an idiot. Number one, he won't tell anyone where his rental properties are. He says he is afraid of being sued. Wouldn't you want to toot your horn and advertise where your properties are.
Second, does he even own property?
Third, he is going to lose his shirt since he advocates borrowing money! He deserves to get beat.
ij911 2 years ago
@ij911
wait a minute... I have a Kyosaki video posted and he talks about buying silver.
Do I miss something here ?
ewffaces7 2 years ago
@ij911
Kiyosaki is still pissed off after his Rich Dad cut him out of that high stakes deal.
papaboule 2 years ago
well this guy needs to spend more time looking for a job and less time thinking about doom and gloom. Times are hard right now. sure. You can still find a job if you really want to work. Haiti is shtf time. We are no where near that as of now.
mcnabj 2 years ago
Comment removed
meshblorg 2 years ago
George showed us a video where he got a check from his you tube & internet activity. He's self employed. The reality can be demoralizing for those not ready to put it into perspective. Haiti has major problems because the US destroyed their ability to produce food themselves so that US Big Farmer can export food to them. Americans can go back to gardening in no time flat if we suffer that kind of devastation.
rayme4raw 2 years ago 3
Please. Don't blame the U.S. for Haiti's problems. Haiti should be thankful we are even helping them right now. Look at the Dominican Republic. Same damn island. It is a world of difference compared to Haiti. The Hatians slaughtered all the white French back around 1802. They are unable to organize themselves. It's the poorest country in the western hemisphere. Lol right it's America's fault. Bullshit.
mcnabj 2 years ago
mcnabj,
You are right on the money. The average per capita income in Dominican Republic is six times that of pre-quake Haiti. Part of problem is French colonialism---Most French colonies ended up as basket cases. Spain's have generally done better, and Britain's have generally fared best of all. French colonialism was the kiss of death, combined with genetic, spiritual, cultural, & other historical factors--All combined to make Haiti a virtual failed state & enviro disaster.
bboucharde 2 years ago
Your perception of reality hasn't adjusted fully yet. Get out and talk to others and you will learn what is reality right now. In years past I would have agreed, you could find a job if you really wanted to. Right now you cannot.
freemarket11 2 years ago
My perception of reality is fine. I live in Northern Virginia and I am right next to Washington D.C.. the economy around me is fine. The only time I have thanked the Federal government. I have a very secure job at the moment. I just got two job offers last month. It depends on what part of the country you are in . It depends on your education. It depends on how determined you are. I will not fall into the doom and gloom mindset. We are Americans. We will fix this.
mcnabj 2 years ago
I have absolutely no sympathy for these speculators.
pretorious700 2 years ago
These are excellent videos. You are finding great interviewees.
turbotrana 2 years ago 3
Even with our three properties here in France fully paid for long ago, we are beyond fed up. Prices are still artificially high. Good video, widely shared, five stars. See, if we sell, with these still-too-high prices, where can we buy? And why move? So here we sit. And I'm unable to go back to the States and help out because I cannot get healthcare there. I warned them, they were losing me, a taxpayer, 15 years ago, and they didn't care.
slobomotion 2 years ago
@slobomotion you can get the best healthcare here in the States. You just have to pay cash for it.
papaboule 2 years ago 2
he is a bonehead...lets see him short all the reits and get his head ripped off....
9secondsflat 2 years ago
Hope versus the math...math ALWAYS wins.
Shameonfed 2 years ago 4
At what point do you just walk away from your home, credit cards, and cars???? If my taxes paid for the bailout, who is bailing me out??? My credit card interest rates were increased to 30% and I have a great credit score. It is a joke. Georges friend is right - dont Hope - it is worthless.
PeakedEarth 2 years ago
@PeakedEarth, if all you can do is pay interest on debt you are technically bankrupt. you should look into bankruptcy option. if you can never pay it off obviously bankruptcy would be the way to go.
x11115 2 years ago 6
In what timeframe and at what expense? If I can pay it off in 30 years living in a tent eating bugs, do you keep paying? Seriously - if it is going to take 5 years working 3 jobs, and at the end you have nothing to show but 0 balances, do you pay? I am speaking hypotheticlly, but it is a real question many have to face.
PeakedEarth 2 years ago
Bankruptcy? If you have a mtg & car loans & credit card debt possibly, consult a lawyer. If you just have credit cards, it's an unsecured loan, you only need to default and send them a letter within 30 days so that they can only contact you by mail and not by phone. My credit card rates jumped this month from 11 & 14% respectively to 32 to 35%.
rayme4raw 2 years ago
whats the best way to get involved in real estate?
MacPr0xnxx0 2 years ago
to use options to buy derivitive contracts.
AEVautomatic 2 years ago
@AEVautomatic, don't tell people to buy options. they will get burned. options have expire dates and loose value as time goes by.
x11115 2 years ago
use options tradeing. You will be leveraged up but there is a cap on what you can lose. Buy some contracts....
AEVautomatic 2 years ago
these guys crying means buy.
AEVautomatic 2 years ago
Buy? Wheres the money going to come from to buy? There's no money on the streets.
tbgx1 2 years ago
not yet, wait till near the end of spring.
Banks are holding a crapload of assets still that they have to get rid of. I have sources in the FDIC that tell me they are getting prepared to take care of this during the spring.
RogueSwordThesco 2 years ago
AEVautomatic: Stay away from PRO shares. Look at the class action suits against them. When their ULTRA shares make money its 2x but when they LOSE money it's way way more than -2x. Just google "proshares ultra class action"
papaboule 2 years ago
just bought some contracts for .WXIAG at 7 strike. If you believe what you say you should be short. Im long....
AEVautomatic 2 years ago
That was really good.
stuntpea 2 years ago 4
5 stars Excellent points. We have similar in the UK the ones who get big handouts from the government while old folks who saved for their retirements are seeing their savings dwindle because of the "economics". Think it goes something from each acording to his ability to each acording to his need. Except for many of the real needy the ones who did work to try and get a home are being dumped on. Mix in a central bank, and of we go down the red brick road. Cheers.
davidnightingale 2 years ago 5
people who have hope strike fear in the hearts of these bankers...guys like Mark Cuban scare bankers to death because these guys have made it against all obstacles...if I was a banker, I'd pay someone to put up videos like this telling people that they can't win and to get out of the market, then I can buy all the real-estate up without competition
cypher954 2 years ago
guys, these videos aren't good for you...you need hope...don't listen to these guys...they probably don't want you in the commercial real-estate because they want it all for themselves, they don't want any competitors...you never know who is behind the camera and what the background of these guys are...they probably work for the banks
cypher954 2 years ago
What the hell is holding the remaining economy together?
M3di3v4L 2 years ago 5
High-fructose corn syrup.
WOLF333999 2 years ago 5
hope and spare change
Repomex01 2 years ago 2
LOL, we are all asking that question.
rayme4raw 2 years ago
Delusion & cognitive dissonance.
livefree1789 2 years ago
People pretending it's all not that bad.
freemarket11 2 years ago
Great video George. A $300K home in my North Texas neighborhood sold for $150K this month. Prices are falling dramatically. I wish Corey good luck in his RE investing business since prices have a ways to go before hitting bottom. Thanks for your videos.
budb11 2 years ago
Very well said
jefferyconnors 2 years ago