Government overspending results in HIGH INTEREST RATES which will result in the next wave of housing price reductions and forclosures as mentioned. How many of you supported Obamacare, when 90% of people were happy with their coverage? Trillions of dollars of pork and national bankruptcy. Now we'll be giving Egypt $2 billion in loan guarantees --- HOW? How much have we given Libya?
@Boetica1960 YOU idiots think government spending started with Obama - The Federal government has been overspending every year since Reagan you dumbass!
the properties are there..waiting for CHINESE to occupy them when the dollar collapse and the chinese yuen reings SUPREME! open your eyes you dumb FUCKS. you belong to China. not just your properties but your very SOULS. you're all fuckin SLAVES. you've always been.
I AM AN APPRAISER IN NJ. I DO ALOT OF FORECLOSURES. THERE DOESN'T SEEM TO BE ANY END IN SIGHT. THERE IS SO MUCH REO'S THAT THE BANKS DON'T WANT AN APPRAISAL. THEY WANT US TO DO A DESKTOP APPRAISAL. THIS GIVES THEM AN IDEA OF WHAT THE VALUE IS.
even if a person gets a job, its back to $7 dollar an hour jobs and rent is going up. americans income is froze and rents and gas and neccesities going up. example is you have full time job, car breaks or short on rent, then that person loses their job because of no transportation or getting kicked out.
Rent here in NYC is ridiculous. 1700-2200 a month for 3 bedrooms. They have empty condos all over brooklyn and they are building even more.condos. Who can buy condos when they economy is so bad?
@Modacolorist Friends of Obama and Soros. Public employees on HUGE pensions. Why does everyone blame the business person, a JOB CREATOR for being greedy, when public employees get a guaranteed pension paid for by the serfs (i.e. people working their fingers to the bone who will be eating grass) inconsistent with the necessities of life in retirement? I CAN'T AFFORD YOUR PENSION!
Where I live they just raised the rent to 2000, yes that's right 2000 US dollars for a 2 bedroom (non)luxury apartment. These people are greedy, and I can't wait for this to drop to the bottom.
The collapse is long overdue, the bank bailout bill prevented the tsunami he is talking about. In the good old days when an institution went under there was a fire sale of assets. The banks are hanging on to property hoping to liquidate on more favorable terms, but stagnant property deteriotates, so they can't hang onto it forever.
Why should housing prices go up, GDP is flat, it's not like there are too many dollars chasing too few goods.
Sacramento Valley just the same Mammoth commercial property's 700,000 ++ stopped dead in their tracks by notice of cessitation . New subdivisions 30 percent are bank stamped and in foreclosure.As soon as interest rates start on the rise and they will it will push housing prices down and and even more defaults will rise as the 3hrd and 4th wave of the housing bubble hits...Get ready what goes up must come down...
OmG Can someone Just shoot me Now with hearing this after being tricked hoodwinked emotionally raped more than a few times Be Ex 's there's who steal Idenity on line to Utubed you or me into Space with the worst crap and surprize boyfriend after ALL OF 7 MONTHS OF THAT CONVINCE ME TO OPEN UP ME TWITS, i WOKE UP WHEN HE WANTED ME TO CHOP OFF MY HAIR NOW I'LL HAVE WORSE RENTAL ISSUES WITH AN ALL NEW lOW SELF ESTEEM THANKS FEELA
wow, wrong, rent never goes down. it is simple, we have more people than apartments, so no one ever needs to drop rental prices. You don't have to buy a house, but you do have to rent something. No, rent will not go down
@johnmonk66 I hear what your saying, but this is happening here(S. Florida). People are desperate to fill empty homes and save foreclosures. You can cut real good deals right now.
I can see why you do youtube videos because your understanding of the real estate in CA is very marginal at best. Rents are going way up in about two to three because contruction of new rentals has completely stopped. People who decided to foreclose will be barred from buying another home. In about five years, if you won rental property, you are going to make a ton of money.
Sir you are so right about everything you said...But I believe that housing prices will drop down to 70%....Therefore, creating a deflation effect around the United States.
zmelli I live on the east coast and it is the same deal here. You can not touch a foreclosure unless you are a developer/investor with cash. The banks are telling the agents to drive up the prices. I offered the asking price on a piece of property and the agent got on the horn to a slew of developers. Then she had mult offers over asking. So she went on MLS and posted Anyone interested put highest and best in by 5:00 pm on this date.
I cant find a fricken rental for under $1600.00 in my area. I tried to buy a REO, Forclosure or short sale but Investors are paying Cash! Plus if you have a VA Loan forget about it your offer will not even get submitted. This sucks because I need to be out of my current rental soon, my lanfdlord is selling. So you you want to help out I work in Monrovia but will drive up to 40miles to work. Thanks YouTubers
@zmelli The rents are not coming down because many of the folks who still own homes bought them at the peak of the market or close to it. They have to get high rents or they will lose their homes. My cousin has several rentals that she bought during the peak. I bought my property in a valley. So I'm good even if rents bottomed out. She has to take in 1500 per unit or she is toast. We are paying about $4000.00 a yr for water here.
Ive worked as a consultant for a few years and lived in truly one of the fastest growing regions of the country for several years. The smart developer watch apartment rental trends closely. This guy is correct.
Ive worked as a consultant for a few years and lived in truly one of the fastest growing regions of the country for several years. The smart developer watch apartment rental trends closely. This guy is correct. If youre considering buying an investment property, plan for a reduction in rental rates.
This idiot knows nothing about economics. He's using a pump & dump news letter scheme to screw YOU idiots who actually buy into his "stock suggestions." He'll dump on any upside and let you sink on a stupid investment. Unsubscribe to this douche bag.
Hey George... I'll be in contact with the SEC real soon buddy :D
I think rentals will go down do to the fact that there's so many houses for rent now, who wants an apartment when you can rent a house for a few hundred more a month
@notgreen77 It's really anyone's guess because the houses that are being rented out are homes that owners can not take a loss on but can't afford so instead of doing a short sale they are renting but if rents continue to go down those homes will be foreclosed on and be part of the banks inventory. If they end up as shadow inventory they will be seriously distressed. Then it comes down to renting an apt that is maintained or a distressed bank owned with burst pipes, broken windows, ect.
They are trying to do away with private property in this country. (NWO) and have been for quite some time. The droves of people who have been foreclosed on will no longer be able to partake in home ownership for quite some time so they will have to rent which would theoretically drive demand up if there were any jobs.
@zmelli I think these folks are off a bit. In normal circumstances I would say yes rentals will go down, but you have the banks taking up ownership of a lions share of the real estate. If you think they are going to give you a break you are wrong. There is a method to the madness. The houses are not being maintained and are seriously distressed in some areas and the banks are not paying people to renovate these properties for rental income.
@zmelli I think the goal is to take away private property. A majority of US Citizens are going under financially which means their credit is shot, they will not be able to buy for at least 7 years maybe longer if the banks start tightening the purse strings which is what is happening now. They could be even more stringent in lending out money for homes. However, most of the shadow inventory is seriously distressed so you could rent a well kept apt or a home from the bank that is trashed.
If you are a conspiracy theorist you would have known for quite some time that one of the goals is to eliminate private property ownership. This has been going on for quite some time. Look at all of the eminent domain abuse in recent years. (Govt taking possession of private property). Rentals are different because home owners are destroyed now. They can no longer own a house due to foreclosure so demand for rentals will go up with demand. They have us over a barrel.
@7734boy I am surly over a Barrel right now. I came back to California to take advantage of the Housing crash only to find out I can not touch a Foreclosure and rents are thru the roof.
and the thing is the ones that ARE RENTALS how do you know the landlords are in FORECLOSURE??? I just found out my landlord LIED and had stopped paying BEFORE I MOVED IN. This is horse property so it is VERY DIFFICULT to move with horses. I have heard at least six other stories this week about others experiencing the same situation. LAWS need to protect the renters that get deceived into these situations.
Here in Folsom CA....empty large houses EVERYWHERE. I actually have a friend who has stayed in his home w/o paying rent for the last 14 months...the bank is so overwhelmed with repos...they haven't evicted him yet!
Not sure if I understand this completely. I own rental properties for income now. When we see massive inlation, most tenants will have lots of devalued currency, which they will spend on food. But that small portion that they spend for paying me rent will be a large number, larger than the mortgage payment on my property. The mortgage gets quickly paid off, increasing cash flow. What is left is maintenance/taxes, etc. I am missing something here.
I don't believe rentals will come down. The people who rent them out don't correlate the price of the home to the rental price. There greedy sobs and people will pay so why would they change?
I agree. Moreover, there are other bubbles that still must pop. The health industry bubble will probably be the largest, followed by various electronic dependent markets. That's right, not every 12 yo will have a cell, laptop, Tivo, etc.
Its true here in Kansas City, Mo. too. Empty houses, vacant apartments. The rental prices are not coming down. Where are people going? Who are they moving in with? Its really something!!!
@TheKerryzzz do you really belive there was ever a free demand driven market for real estate (including renting)? ROTFL. Never not in the USA and not in Europe or Asia.
Yes I know. I've never seen so many empty houses, boarded up buildings, House for Sale and Apartment for Rent signs in my life.
Banks are holding a ton of properties and at some point their regulators are going to force them to show non-performing assets as liabilities. That's when the market will be flooded with properties.
Who in their right mind is offering gold for cash? The exchange on TV is asking for people to submit their gold in exchange for cash. One ounce of gold is slightly over 1k and these companies are offering you close to 180 to 220$ an ounce. You're either badly misinformed or misinterpreted their message.
League.....You're seeing the ad where they are preying on little old ladies with beginning dementia who are sending in their kids inheritance to these thieves,
I am talking about all the the different ads you see every five minutes spreadiing fear offering gold coins and bullion for dollars. You've seen them too unless you are living in a cave.
because when you buy they're gold ... they're other gold goes up in value... and they take your cash and buy more gold for a lot less than you just paid....
Great analysis ... I agree 100 percent. I am renting a house in Hermosa Beach and I was surprised by no real deals ... so I am renting short term to wait it out for the better deals.
Pinched off like a loaf! And that loaf is the tsunami. People who have anything left to lose, will lose. Till the price of everything drops. That is the solution. We are fight our best interest if we try to meet the standard that was set.
I don't get it either, housing prices are dropping but if hyperinflation kicks in and gas is $8 or $80 per gal. and bread is $20 per loaf, salaries will go up (lagging of course) and rents will go up too...people need a place to live.
Maybe inflation is very selective, the dollar maybe worthless for one thing but super valuable for another. Maybe we'll pay $80 for gal of gas or $20 for a loaf of bread but only $20 to rent a mansion. We can call this hyper-uneven-inflation. That makes perfect sense, don't you agree?
"its not the time to buy.. its not the time to rent.." .. uhh ok ... live in a box perhaps?? its always the time to buy realestate, you just have to be adaptable to the market condidtions.. rent, sell, flip, lease purchase.. etc... people need homes whether the market is good or bad.. YOU just have to be smart of your investments!
Why cant a house be a house, and not a get rich scheme? In the south west the greed and lies destroyed lives. Now idots with no experiance are jumping in the game to own rental properties. Thier savings invested repairs stack up, taxes due, and no stable renter. 90% + of these "investors" will loose just as the flippers did during the boom. Only this time they actually have some real skin in the game. A house that rents for $1350 today, will be $800 next year, hows that look in your portfolio?
@ihscout54 They have learned nothing, Greed and Lies is still here. Realtors only submitting Cash offers to Banks because they want a quick closing. They do not want to wait the standard 30 days to get paid. I makes me sick.
@ihscout54 A house will always be a get rich scheme- because if you have a 30year fixed mortgage- and pay the regular payment amount for 30 years YOU WILL PAY FOR THE HOUSE TWICE when you calculate the interest- the whole concept of a mortgage is a get rich scheme FOR THE BANKS- so you can be the schemer or the schemed as long as the system works this way- and a re fi can be worse- if you refi after say 8 years of owning then the bank made about 20yrs of intrest off 8 year loan!!intrest paid fir
The rent prices aren't artificially high -- you have a huge =demand= for housing, so naturally you're going to pay a premium for it. Contrary to property ownership, rentals actually are following market valuation.
The fact that rents are as =LOW= as $1600/month for a 3-bed-2-bath apartment attests to the efficiency of the rental markets at this time. I'm paying that much for a 650ft apt w/ 1 bed, 1 bath. Get real!
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Why would you listen to this guy about real estate investing? If he was so intelligent about the subject, he'd be rich, and not driving a tacky gray-clothed piece a shit car...
This guy obviously has never invested in real estate....
Oh yeah, and apparently any increase in ANYTHING is "artificial"... its not artificial when there's a REAL demand for rental housing!!!
And if was so intelligent about the subject of real estate INVESTING, he SURELY wouldn't be calling people who flip properties "professional investors" HA! Give me a break!
SoCal, San Fran, NY, Boston, Las Vegas, South FL are NOT the entire country. Loan to value matters. Property value increases of 400% in 5 years were not the norm in the rest of the country. These areas should come back down to 2001 prices. What were the values then; look for properties at those prices; minimize leverage. Dont just sit on your hands & put your head up your ass.
people aren't buying real estate because it's not a good investment. therefore, more people are looking to rent. supply and demand. rental prices will go up.
No, it's reverse of what you are saying. These houses rented are not paid for. The landlords still owe massive amounts and currently are able to perhaps eek out most of the loan payment. Things will only get worse for landlords.
Hey Georgie boy, the rental market is not going up. Your quote of $14-1500/mo for a 3br/2bth is a deal in So.Cal. Good idea, don't rent, don't buy. Live on the street, in a riverbottom, etc. YOu contradict your own statements on most of the videos you post
And you're 100% correct. Right now those dumb investors offer 10,oo to 20,000 above asking price especially in central california. I don't know what they're thinking, I hope these assholes lose their asses again. Hahahah.
I don't know where you guys live but we operate a property management company in the LA and Fontana California area. Buildings are going under by the hundreds. Every building has vacancy's. Some buildings were bought 6 months to a year ago thinking the bottom was in and now are back in foreclosure. We are in the beginning of the depression the beginning do you understand.
not exactly, I'm in Ohio and one common thing going on here is families are sharing homes, sometimes 4 generations or more, kinda like reverting back to the old days
In order for the price to be "artificially" high you would have to have a coercive relationship between the renter and rentee. A forced association. Unless the the state is regulating rentals (i.e. using violent coercion to enforce policies) it's just the fair market value.
Prices may be higher than you'd like, but that's still a normal aspect of the economy, and will drive the level of prices in the future.
Good I hope the rental market will collapse soon because I'm tired of being priced out of the market. Everybody want to be a real estate investor buy and rent well see how well they'll do.
UVpirate, how is the laugh on me, I'm 53, I'll probaly never pay off the note. I'll use the car for 3 or 4 years and get another one or just use the 2 others already have. I aleady told you money is not an issue with me. In other words I'm not poor so why would I worry about costly headlights?
Dont rent, dont buy? where do I live? In my car? What kind of nonsensical advice is that? I mean come on. No wonder we never see your house. You tend to see a closure & report "collapse." I am not doubting things are bad. But therer is a difference between a tropical storm & Katrina. You overemphasize & exaggerate & your credibility pays the price.
George - what is it with your and your favourite word ' collapse'? There will be no collapse in the rental market. A change, a shift, a re-alignment, but not a collapse. Have a look at a Webster dictionary as to what this word really means as you have used it a lot in the past and seem to use often.
Rents never kept up with the boom in housing prices. For years Kali rental property owners were beting on appreciation to make up for the negative cash flows from low rents. Property values are just now getting close to a positive cash flow investment.
In a SHTF world it won't matter, no one will pay rent, no one will pay mortgages, non paying tenants will be evicted by force of landlord, or landlord just lets the property go.
The truly wealthy don't look at a house as an investemnt or asset. They see houses for what they really are: a liablility that takes money out of their pocket; taxes, upkeep, electric, heating, cooling, and water bills. Home is where the heart is, not the bank account.
I bought after the collapse. I never intended my house to be an "investment" I intended to be my home, a place where some landlord can't evict me or raise the rent at his whim. My mortage is fixed for rest of my life, if inflation shoots out sight my house is paid for.
Yeah it can be a money pit, but beat sleep on a park bench or haveing a dinner party at McDee's.
My advice to is buy, then you have a place for a garden or a home business. But hey if your heart is sleep in your car go for it
Right now? Been then way for a long long time now. Rent never drops. Its pathetic. The building just get more older and dilapidated. What does the renter get? Shit.
Seems to me that if people cant afford a mortgage they more than likely wont be able to afford rent. As far as rent going down, I think a lot of landlords borrowed on their properties like everyone else did on their houses, In turn pushing them deeper into debt. Anything besides a certain amount of rent collected equals foreclosure for them also.
AND as unemployment will increase resulting with increasing population with decreasing disposable income must mean with more homes becoming vacant that rents will come down also down the road.
Real Estate companies that are acting "executors" for gov't-banks ARTIFICIALLY INFLATE rental prices to support and overpriced housing market.
This is "Price Fixing".
Remember, the gov't wanted a "bad banks" for defaulted loans instead of providing homeowners with real Mortgage Workouts. This gave the gov't-banks opportunity to "hide their losses" by evicting families and re-selling the assest for the decreased value the original homeowner was denied.
Check out: 'MERS & The Forclosure Crisis'video response for an amature's attempt at explaining this widespread real estate hustle. MERS holds at least 60 million mortgages OUTSIDE of the "Primary Mortgage Market" or "MLS" which act by default to inflate the prices that are listed on the "MLS".
MERS is a product of Fannie and Freddie that was first purchased by countrywide then purchsed by Bank of America only to be bailed out by the US taxpayer.
Check this out on YouTube; The Energy Non-Crisis I thought I knew a few things about what was going on with our country until I watched this. WOW WHAT AN EYE OPENER. Watch the whole video it only gets better.
I've noticed an unusual amount of empty apartments in NY.
I service quite a few large apartment complex's, privately owned & government subsidized. Some have entire wings empty. Places that used to have waiting lists are now desperate for tenants. Even the less expensive, poorly located buildings have 2 or 3 empty apartments on each floor.
If you're single or it's just you and your wife. Yes I think that would be the life! For some it's not even thinkable, but I'm having other family members move in with me so we can weather this through. For as far as the eye can see it doesn't look good for the US if it continues it's current trends. It's about survival now!
My former neighbours bought a sailboat and sailed around the globe in 1 year with their family of 3 kids. It can be done, people live in much worse conditions. I know, I've been in New Delhi, India.
When your're young they should tell you this crap before you sign up for 30 yr mortgage. How many people percentage wise have kept the same job for 30 years, especially going forward. Kinda whacked if you think about it...
"Housing... A place to lay your head!" I wish I had bought a house with that mentality instead of investment, because I would've been better off. Think about it?Even if you yourself make good decisions, you can't count on the rest of the jack asses in the world to do the same, and how are you supposed to be responsible if your govt. collapses the economy below your feet, and wants to tax you to death? WTF then, meanwhile all the crooked bankers and car dealers make out like bandits!
TheGoy1DF2 - I agree with you on the container housing. Check out Micro Cottages on Google. I'm thinking that would work out very well on a small plot of land. Plus the heating and cooling costs would be trivial. Like George said, you just need a place to rest your head.
George here in CT the Government pays alot of pepoples rent and they can be very high often for crap housing in the hood where a woman on welfare with kids would prefer not to live so what happens as gov fails financially? They are going to have o cut the rents. Plus as people with cash buy rentals they will undercut to get good tenants to keep their units rented
A Realtor buddy of mine told me 40 people showed up at a forclosure sale for a 3 family the auction started as 60k and was bid to 120k. The building needed 30k to get cleaned up and rented. The property is in a grey area meaning one block away is one of the worst street in the city, One block in the other direction is one of the best streets. I would not be parking my 150 there, Liquidity Cash is King today and that for me is Gold those people are nuts!
the day you dont' see george making videos on youtube is the day you want to become a real estate investor because the day that this real estate business turns around, you will see george with a big smile at ABC title company making 50k a month.
I am not sure can come down on rent. Think of it, if you have a property, you have to be able to rent it out to make the payment. If you can afford to rent it out cheaper, then ok drop the price. Depends on when you bought it. someoneone else made a good point, you have to live somewhere.
From my own personal experience, I rented most of my life, always at the whim of a "Land Lord". They provide minimal repairs, raise rent whenever possible, the rental I always had the Landlord himself would never live in those condtions.
Yeah I know P Schiff says it's better to rent. Well maybe if your renting a million home, otherwise your like a serf, Landlord get's forclosed & you already paid your rent, too bad your ass is on the street. I would rather own a house then be at the whim of 0
And I suppose after a real estate bubble collapse the banks will be more then happy to make mortages to more people who sank the economy in the place by flipping, get rich real estate schemes and all the other Blunders that got us into this mess in the first place.
Best bet, like the cash for clunkers, get $8000 cash from the Goverment for buying a house.
Next you will hear the Goverment will pay you to fly the airlines so they don't bankrupt. That's it, pay Americans to buy stuff, Wow!
My sister is a landlord with about a dozen houses and a fundamentalist Christian. She will get every plug nickel she can out of you, and don't be late on paying cause you missed work and the kid was sick, she will have your ass evicted and thrown out on the street faster then you can say Barack Obama backwards.
Also many the home owners that have lost their homes have left the state. So we over built and now many of the residents of CA or going to other states. So in the middle of an economic collapse there is not much you can do but wait for the bottom.
They need to reform BK laws so we can get rid of all this debt.
so don't go buy anything now while its cheap, but instead go out and invest when the prices start to go up and you have more competition
Beriven 1 month ago
He's with the NIA, a well know "pump and dump" stock scam, exposed by Peter Schiff
Tigersage3113mdc 2 months ago
He says, @ 3:13, "try to find cheap dicks"....LOL, what's a cheap dick gonna do for me??
skiluinamso 6 months ago
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skiluinamso 6 months ago
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skiluinamso 6 months ago
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skiluinamso 6 months ago
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skiluinamso 6 months ago
Dont they hold them off the market so they won't have to pay taxes?
paseggiato 8 months ago
He isn't even driving!! xD
bheart 8 months ago
Government overspending results in HIGH INTEREST RATES which will result in the next wave of housing price reductions and forclosures as mentioned. How many of you supported Obamacare, when 90% of people were happy with their coverage? Trillions of dollars of pork and national bankruptcy. Now we'll be giving Egypt $2 billion in loan guarantees --- HOW? How much have we given Libya?
Obamanomics -- EPIC FAIL!
Boetica1960 9 months ago
@Boetica1960 YOU idiots think government spending started with Obama - The Federal government has been overspending every year since Reagan you dumbass!
icemanmba 9 months ago 4
Not here in Houston,Tx.
NinezeroPlayer 9 months ago
the properties are there..waiting for CHINESE to occupy them when the dollar collapse and the chinese yuen reings SUPREME! open your eyes you dumb FUCKS. you belong to China. not just your properties but your very SOULS. you're all fuckin SLAVES. you've always been.
Immaculite 1 year ago
@Immaculite I'll just learn some Chinese dialect. It'll be cool.
l33tmaster104 1 year ago
Ya'll aint seen nothing yet... You have not even taken into account the Commericial real estate collapse...
manny298 1 year ago
Our rent went down by about $150 in the last year. It was very nice.
Brookelorren 1 year ago
HI,
I AM AN APPRAISER IN NJ. I DO ALOT OF FORECLOSURES. THERE DOESN'T SEEM TO BE ANY END IN SIGHT. THERE IS SO MUCH REO'S THAT THE BANKS DON'T WANT AN APPRAISAL. THEY WANT US TO DO A DESKTOP APPRAISAL. THIS GIVES THEM AN IDEA OF WHAT THE VALUE IS.
HASHEMANDHOFFER 1 year ago 2
Fail.
Rents here in upstate NY have gone up 20% since you posted this video. Housing prices, however, have dipped about 20%.
First you say don't buy a house and then you say don't rent. Well, where do you expect people to live? In a tent somewhere?
I guess if you throw enough BS at the wall, something's gotta stick.
I see now that you are selling out (Oct 30, 2010). You would make a good politician.
theoriginalalteff4 1 year ago 8
even if a person gets a job, its back to $7 dollar an hour jobs and rent is going up. americans income is froze and rents and gas and neccesities going up. example is you have full time job, car breaks or short on rent, then that person loses their job because of no transportation or getting kicked out.
1942nuclear 1 year ago
Rent here in NYC is ridiculous. 1700-2200 a month for 3 bedrooms. They have empty condos all over brooklyn and they are building even more.condos. Who can buy condos when they economy is so bad?
Modacolorist 1 year ago
@Modacolorist Friends of Obama and Soros. Public employees on HUGE pensions. Why does everyone blame the business person, a JOB CREATOR for being greedy, when public employees get a guaranteed pension paid for by the serfs (i.e. people working their fingers to the bone who will be eating grass) inconsistent with the necessities of life in retirement? I CAN'T AFFORD YOUR PENSION!
Boetica1960 9 months ago
You mean buy high and sell high go ahead and do that and you will be in a hole deeper then you can climb out of georgy.
DIJV79 1 year ago
Thanks for the video :)
AnnexGroup 1 year ago
Where I live they just raised the rent to 2000, yes that's right 2000 US dollars for a 2 bedroom (non)luxury apartment. These people are greedy, and I can't wait for this to drop to the bottom.
MsDaniela50 1 year ago
we are going through the same thing in South Florida.
schlabresfan 1 year ago
The collapse is long overdue, the bank bailout bill prevented the tsunami he is talking about. In the good old days when an institution went under there was a fire sale of assets. The banks are hanging on to property hoping to liquidate on more favorable terms, but stagnant property deteriotates, so they can't hang onto it forever.
Why should housing prices go up, GDP is flat, it's not like there are too many dollars chasing too few goods.
Zyworski 1 year ago
Sacramento Valley just the same Mammoth commercial property's 700,000 ++ stopped dead in their tracks by notice of cessitation . New subdivisions 30 percent are bank stamped and in foreclosure.As soon as interest rates start on the rise and they will it will push housing prices down and and even more defaults will rise as the 3hrd and 4th wave of the housing bubble hits...Get ready what goes up must come down...
ibelucky1 1 year ago
OmG Can someone Just shoot me Now with hearing this after being tricked hoodwinked emotionally raped more than a few times Be Ex 's there's who steal Idenity on line to Utubed you or me into Space with the worst crap and surprize boyfriend after ALL OF 7 MONTHS OF THAT CONVINCE ME TO OPEN UP ME TWITS, i WOKE UP WHEN HE WANTED ME TO CHOP OFF MY HAIR NOW I'LL HAVE WORSE RENTAL ISSUES WITH AN ALL NEW lOW SELF ESTEEM THANKS FEELA
humokay50 1 year ago
wow, wrong, rent never goes down. it is simple, we have more people than apartments, so no one ever needs to drop rental prices. You don't have to buy a house, but you do have to rent something. No, rent will not go down
johnmonk66 1 year ago
@johnmonk66 I hear what your saying, but this is happening here(S. Florida). People are desperate to fill empty homes and save foreclosures. You can cut real good deals right now.
schlabresfan 1 year ago
George,
I can see why you do youtube videos because your understanding of the real estate in CA is very marginal at best. Rents are going way up in about two to three because contruction of new rentals has completely stopped. People who decided to foreclose will be barred from buying another home. In about five years, if you won rental property, you are going to make a ton of money.
eatandtravel 1 year ago
Sir you are so right about everything you said...But I believe that housing prices will drop down to 70%....Therefore, creating a deflation effect around the United States.
patrickfb123 1 year ago
Ok so if housing is not a good investment any more, than what should we pour money into?
Cdogpyjamas 1 year ago
Are there any woods around there? I could get a hut and set up in the woods, it wouldn't cost me nothing for rent.
craigenputtock 1 year ago
zmelli I live on the east coast and it is the same deal here. You can not touch a foreclosure unless you are a developer/investor with cash. The banks are telling the agents to drive up the prices. I offered the asking price on a piece of property and the agent got on the horn to a slew of developers. Then she had mult offers over asking. So she went on MLS and posted Anyone interested put highest and best in by 5:00 pm on this date.
7734boy 1 year ago
I cant find a fricken rental for under $1600.00 in my area. I tried to buy a REO, Forclosure or short sale but Investors are paying Cash! Plus if you have a VA Loan forget about it your offer will not even get submitted. This sucks because I need to be out of my current rental soon, my lanfdlord is selling. So you you want to help out I work in Monrovia but will drive up to 40miles to work. Thanks YouTubers
zmelli 1 year ago
@zmelli Actually under $2000 where I am at (Orange County) I would need to drive 50 miles to get a rental House under the $1600 range.
zmelli 1 year ago
@zmelli The rents are not coming down because many of the folks who still own homes bought them at the peak of the market or close to it. They have to get high rents or they will lose their homes. My cousin has several rentals that she bought during the peak. I bought my property in a valley. So I'm good even if rents bottomed out. She has to take in 1500 per unit or she is toast. We are paying about $4000.00 a yr for water here.
7734boy 1 year ago
I am already feeling it I live in a 3 bedroom apt I am staying where I am
1300 dollars a month in 2006 and now I pay 900 a month
99waterlife 1 year ago
Ive worked as a consultant for a few years and lived in truly one of the fastest growing regions of the country for several years. The smart developer watch apartment rental trends closely. This guy is correct.
verbmerger 2 years ago
Ive worked as a consultant for a few years and lived in truly one of the fastest growing regions of the country for several years. The smart developer watch apartment rental trends closely. This guy is correct. If youre considering buying an investment property, plan for a reduction in rental rates.
verbmerger 2 years ago
This idiot knows nothing about economics. He's using a pump & dump news letter scheme to screw YOU idiots who actually buy into his "stock suggestions." He'll dump on any upside and let you sink on a stupid investment. Unsubscribe to this douche bag.
Hey George... I'll be in contact with the SEC real soon buddy :D
njcarlos1 2 years ago
I think rentals will go down do to the fact that there's so many houses for rent now, who wants an apartment when you can rent a house for a few hundred more a month
notgreen77 2 years ago
@notgreen77 It's really anyone's guess because the houses that are being rented out are homes that owners can not take a loss on but can't afford so instead of doing a short sale they are renting but if rents continue to go down those homes will be foreclosed on and be part of the banks inventory. If they end up as shadow inventory they will be seriously distressed. Then it comes down to renting an apt that is maintained or a distressed bank owned with burst pipes, broken windows, ect.
7734boy 1 year ago
They are trying to do away with private property in this country. (NWO) and have been for quite some time. The droves of people who have been foreclosed on will no longer be able to partake in home ownership for quite some time so they will have to rent which would theoretically drive demand up if there were any jobs.
7734boy 2 years ago
@7734boy Yes and they are doing a great job, seems the banks are using bail out money to pay cash for all the foreclosures then renting back to us.
zmelli 1 year ago
@zmelli I think these folks are off a bit. In normal circumstances I would say yes rentals will go down, but you have the banks taking up ownership of a lions share of the real estate. If you think they are going to give you a break you are wrong. There is a method to the madness. The houses are not being maintained and are seriously distressed in some areas and the banks are not paying people to renovate these properties for rental income.
7734boy 1 year ago
@zmelli I think the goal is to take away private property. A majority of US Citizens are going under financially which means their credit is shot, they will not be able to buy for at least 7 years maybe longer if the banks start tightening the purse strings which is what is happening now. They could be even more stringent in lending out money for homes. However, most of the shadow inventory is seriously distressed so you could rent a well kept apt or a home from the bank that is trashed.
7734boy 1 year ago
If you are a conspiracy theorist you would have known for quite some time that one of the goals is to eliminate private property ownership. This has been going on for quite some time. Look at all of the eminent domain abuse in recent years. (Govt taking possession of private property). Rentals are different because home owners are destroyed now. They can no longer own a house due to foreclosure so demand for rentals will go up with demand. They have us over a barrel.
7734boy 2 years ago
@7734boy I am surly over a Barrel right now. I came back to California to take advantage of the Housing crash only to find out I can not touch a Foreclosure and rents are thru the roof.
zmelli 1 year ago
@zmelli Can touch them here on the east coast either. They want cash, probably converting it to Gold as fast as they can.
7734boy 1 year ago
and the thing is the ones that ARE RENTALS how do you know the landlords are in FORECLOSURE??? I just found out my landlord LIED and had stopped paying BEFORE I MOVED IN. This is horse property so it is VERY DIFFICULT to move with horses. I have heard at least six other stories this week about others experiencing the same situation. LAWS need to protect the renters that get deceived into these situations.
fifthavenuegirl 2 years ago
Here in Folsom CA....empty large houses EVERYWHERE. I actually have a friend who has stayed in his home w/o paying rent for the last 14 months...the bank is so overwhelmed with repos...they haven't evicted him yet!
MissNevada08 2 years ago
Not sure if I understand this completely. I own rental properties for income now. When we see massive inlation, most tenants will have lots of devalued currency, which they will spend on food. But that small portion that they spend for paying me rent will be a large number, larger than the mortgage payment on my property. The mortgage gets quickly paid off, increasing cash flow. What is left is maintenance/taxes, etc. I am missing something here.
snarbywrx 2 years ago
I don't believe rentals will come down. The people who rent them out don't correlate the price of the home to the rental price. There greedy sobs and people will pay so why would they change?
tylersilverchoice 2 years ago
YES ITS TRUE
amcanmike 2 years ago
I agree. Moreover, there are other bubbles that still must pop. The health industry bubble will probably be the largest, followed by various electronic dependent markets. That's right, not every 12 yo will have a cell, laptop, Tivo, etc.
verbmerger 2 years ago
Totally agree...
afglbc7 2 years ago
thanks for the info
junehas4kids 2 years ago
Its true here in Kansas City, Mo. too. Empty houses, vacant apartments. The rental prices are not coming down. Where are people going? Who are they moving in with? Its really something!!!
TheKerryzzz 2 years ago 2
@TheKerryzzz do you really belive there was ever a free demand driven market for real estate (including renting)? ROTFL. Never not in the USA and not in Europe or Asia.
llothar68 2 years ago
waaaaaaah wah waaaaaahhhhh - it's the Zionists - waaaahh waaaaaaaaah
you ignorant turd
rawjhaw 2 years ago
where are all the people going?? alot of empty houses and rentals all over where i'm at......
TheEAGLESEYES007 2 years ago 2
Yes I know. I've never seen so many empty houses, boarded up buildings, House for Sale and Apartment for Rent signs in my life.
Banks are holding a ton of properties and at some point their regulators are going to force them to show non-performing assets as liabilities. That's when the market will be flooded with properties.
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PierreRaines 2 years ago
It isn't just LA, it's here in Providence, RI too. Prices are hovering just under $1,000 a month for a 2 bed. And they're not coming down.
The building I'm in is owned by a guy who owns 10 units. Of those ten only 3 are occupied.
kd1s 2 years ago
if gold is good and dollars are bad, why do all those people on TV want to give you their gold in exchange for your dollars?
breckandy 2 years ago 2
Who in their right mind is offering gold for cash? The exchange on TV is asking for people to submit their gold in exchange for cash. One ounce of gold is slightly over 1k and these companies are offering you close to 180 to 220$ an ounce. You're either badly misinformed or misinterpreted their message.
LeagueofShadows2 2 years ago
League.....You're seeing the ad where they are preying on little old ladies with beginning dementia who are sending in their kids inheritance to these thieves,
I am talking about all the the different ads you see every five minutes spreadiing fear offering gold coins and bullion for dollars. You've seen them too unless you are living in a cave.
breckandy 2 years ago
because when you buy they're gold ... they're other gold goes up in value... and they take your cash and buy more gold for a lot less than you just paid....
theforce68 2 years ago
please don't chew cum while you're talking george
pongchen2000 2 years ago
Is it time to live in your car?
alanhowitzer 2 years ago
Housing : a place to lay your head? Hey, that's a good idea!
tcampbellla 2 years ago
Great analysis ... I agree 100 percent. I am renting a house in Hermosa Beach and I was surprised by no real deals ... so I am renting short term to wait it out for the better deals.
wallstjim 2 years ago
Pinched off like a loaf! And that loaf is the tsunami. People who have anything left to lose, will lose. Till the price of everything drops. That is the solution. We are fight our best interest if we try to meet the standard that was set.
rich2rock 2 years ago
So inflation mean price drop?
moniequa 2 years ago
I don't get it either, housing prices are dropping but if hyperinflation kicks in and gas is $8 or $80 per gal. and bread is $20 per loaf, salaries will go up (lagging of course) and rents will go up too...people need a place to live.
Kaklama13 2 years ago 2
Maybe inflation is very selective, the dollar maybe worthless for one thing but super valuable for another. Maybe we'll pay $80 for gal of gas or $20 for a loaf of bread but only $20 to rent a mansion. We can call this hyper-uneven-inflation. That makes perfect sense, don't you agree?
moniequa 2 years ago
If you look at what happened to the Weimar Republic you'll see that housing was affordable, but food and energy were expensive.
LeagueofShadows2 2 years ago
pinched off like a loaf! Yes.
rich2rock 2 years ago
"its not the time to buy.. its not the time to rent.." .. uhh ok ... live in a box perhaps?? its always the time to buy realestate, you just have to be adaptable to the market condidtions.. rent, sell, flip, lease purchase.. etc... people need homes whether the market is good or bad.. YOU just have to be smart of your investments!
tiffanynicolega 2 years ago
Why cant a house be a house, and not a get rich scheme? In the south west the greed and lies destroyed lives. Now idots with no experiance are jumping in the game to own rental properties. Thier savings invested repairs stack up, taxes due, and no stable renter. 90% + of these "investors" will loose just as the flippers did during the boom. Only this time they actually have some real skin in the game. A house that rents for $1350 today, will be $800 next year, hows that look in your portfolio?
ihscout54 2 years ago 12
why rental drop?
moniequa 2 years ago
@ihscout54 They have learned nothing, Greed and Lies is still here. Realtors only submitting Cash offers to Banks because they want a quick closing. They do not want to wait the standard 30 days to get paid. I makes me sick.
zmelli 1 year ago
@ihscout54 A house will always be a get rich scheme- because if you have a 30year fixed mortgage- and pay the regular payment amount for 30 years YOU WILL PAY FOR THE HOUSE TWICE when you calculate the interest- the whole concept of a mortgage is a get rich scheme FOR THE BANKS- so you can be the schemer or the schemed as long as the system works this way- and a re fi can be worse- if you refi after say 8 years of owning then the bank made about 20yrs of intrest off 8 year loan!!intrest paid fir
DJControllerC 1 year ago
who wants to live in moreno valley...?????
864first 2 years ago
wage deflation = falling rents
Cherokee15676 2 years ago
The rent prices aren't artificially high -- you have a huge =demand= for housing, so naturally you're going to pay a premium for it. Contrary to property ownership, rentals actually are following market valuation.
The fact that rents are as =LOW= as $1600/month for a 3-bed-2-bath apartment attests to the efficiency of the rental markets at this time. I'm paying that much for a 650ft apt w/ 1 bed, 1 bath. Get real!
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ephedrinedietpills 2 years ago
Why would you listen to this guy about real estate investing? If he was so intelligent about the subject, he'd be rich, and not driving a tacky gray-clothed piece a shit car...
This guy obviously has never invested in real estate....
Oh yeah, and apparently any increase in ANYTHING is "artificial"... its not artificial when there's a REAL demand for rental housing!!!
gdono1001 2 years ago
And if was so intelligent about the subject of real estate INVESTING, he SURELY wouldn't be calling people who flip properties "professional investors" HA! Give me a break!
gdono1001 2 years ago
HUMM whats goin on with these people
nene520 2 years ago
If they would quit maintaining these artificially high prices, everything else would resolve itself.
slbiggs36 2 years ago
SoCal, San Fran, NY, Boston, Las Vegas, South FL are NOT the entire country. Loan to value matters. Property value increases of 400% in 5 years were not the norm in the rest of the country. These areas should come back down to 2001 prices. What were the values then; look for properties at those prices; minimize leverage. Dont just sit on your hands & put your head up your ass.
tecumsah1 2 years ago
That's exactly correct. A house is a dwelling, people shouldn't be living in McMansions with mortgages until rapture.
God I hate fake rich people=loaned up assholes.
justgetsome 2 years ago
people aren't buying real estate because it's not a good investment. therefore, more people are looking to rent. supply and demand. rental prices will go up.
stonescourt3 2 years ago
No, it's reverse of what you are saying. These houses rented are not paid for. The landlords still owe massive amounts and currently are able to perhaps eek out most of the loan payment. Things will only get worse for landlords.
justgetsome 2 years ago
Hey Moron,
You wanna bet your mom's car that you are driving on what you claimed in this video.
thesuperuserone 2 years ago
Hey Georgie boy, the rental market is not going up. Your quote of $14-1500/mo for a 3br/2bth is a deal in So.Cal. Good idea, don't rent, don't buy. Live on the street, in a riverbottom, etc. YOu contradict your own statements on most of the videos you post
PinstripeJim 2 years ago
George you are 100% correct.
Here in HB Ca., I've seen neighbors expecting monthly rental fees from $3000.00 and up - what fools.
They'll find out soon that no one will be moving in, at least not for any length of time.
RealEstate should have never become speculative, and we now know the reason why.
Housing prices will fall back (if not lower) to 70's or 60's pricing.
A house - shack, whatever, is just that - a place to recoop, nothing more.
theroilsoil 2 years ago
And you're 100% correct. Right now those dumb investors offer 10,oo to 20,000 above asking price especially in central california. I don't know what they're thinking, I hope these assholes lose their asses again. Hahahah.
moniequa 2 years ago
I'm glad I dont live on the west coast...
TheWasteofmytime 2 years ago
It won't matter where you live, the wave will hit the entire nation.
theroilsoil 2 years ago
Depression in America 2011.. Look no
further than California...
jblcva 2 years ago 3
I don't know where you guys live but we operate a property management company in the LA and Fontana California area. Buildings are going under by the hundreds. Every building has vacancy's. Some buildings were bought 6 months to a year ago thinking the bottom was in and now are back in foreclosure. We are in the beginning of the depression the beginning do you understand.
golfprobro4eagles 2 years ago 11
Yes. Here in HB. Ca, along several streets, you'll see nothing but "For Lease" signs within the commercial complexes.
And who says "RealEstate Never Goes Down By The Beach".
It's happening . . . BIG TIME.
theroilsoil 2 years ago
Sorry George, this time you are wrong.
If you cannot get a mortgage you must get a rental. Home mortgages are still hard to get because of the credit collapse.
I'm in Oakland, CA
professorcurtis 2 years ago
not exactly, I'm in Ohio and one common thing going on here is families are sharing homes, sometimes 4 generations or more, kinda like reverting back to the old days
gibbie513 2 years ago
Asian families tend to do this type of living as well.
justgetsome 2 years ago
Rents are always going to be higher than the national average in Southern California. People flock to that area to work & party & act stupid.
MishuTaste 2 years ago
Yep rent was higher than my mortagage so that was a big reason for me to buy a condo.
linhh82 2 years ago
In order for the price to be "artificially" high you would have to have a coercive relationship between the renter and rentee. A forced association. Unless the the state is regulating rentals (i.e. using violent coercion to enforce policies) it's just the fair market value.
Prices may be higher than you'd like, but that's still a normal aspect of the economy, and will drive the level of prices in the future.
feloniousbutterfly 2 years ago
I live in a dump of an apt complex which has several vacancies and they still keep raising the rent.
tiggie1975 2 years ago
why are you always inside your car???
noone120000 2 years ago
Our RE in SW Florida actually started to go up significantly for the past month
People pay more than asking price becasue 2 many offers But our prices are ridiculously low already
get out of CA and come down here
u can get a 100K lot for 5-10K , build a new house for less than 60 K
tuktukktotam 2 years ago
Well said George. The data here in the OC reflects a coming wave of new distressed sales. NOTS numbers are surging.
OCForeclosures 2 years ago
Good I hope the rental market will collapse soon because I'm tired of being priced out of the market. Everybody want to be a real estate investor buy and rent well see how well they'll do.
moniequa 2 years ago
UVpirate, how is the laugh on me, I'm 53, I'll probaly never pay off the note. I'll use the car for 3 or 4 years and get another one or just use the 2 others already have. I aleady told you money is not an issue with me. In other words I'm not poor so why would I worry about costly headlights?
valhala56 2 years ago
The future of housing is a bunk bed in a FEMA camp...just kidding around. George, please get out of the car and make some more great videos.
mcgrawtim123 2 years ago
Dont rent, dont buy? where do I live? In my car? What kind of nonsensical advice is that? I mean come on. No wonder we never see your house. You tend to see a closure & report "collapse." I am not doubting things are bad. But therer is a difference between a tropical storm & Katrina. You overemphasize & exaggerate & your credibility pays the price.
suzettespencer 2 years ago
George - what is it with your and your favourite word ' collapse'? There will be no collapse in the rental market. A change, a shift, a re-alignment, but not a collapse. Have a look at a Webster dictionary as to what this word really means as you have used it a lot in the past and seem to use often.
tiwmidu 2 years ago
Rents never kept up with the boom in housing prices. For years Kali rental property owners were beting on appreciation to make up for the negative cash flows from low rents. Property values are just now getting close to a positive cash flow investment.
In a SHTF world it won't matter, no one will pay rent, no one will pay mortgages, non paying tenants will be evicted by force of landlord, or landlord just lets the property go.
prescottbill 2 years ago
The truly wealthy don't look at a house as an investemnt or asset. They see houses for what they really are: a liablility that takes money out of their pocket; taxes, upkeep, electric, heating, cooling, and water bills. Home is where the heart is, not the bank account.
TenderTrap86 2 years ago
I bought after the collapse. I never intended my house to be an "investment" I intended to be my home, a place where some landlord can't evict me or raise the rent at his whim. My mortage is fixed for rest of my life, if inflation shoots out sight my house is paid for.
Yeah it can be a money pit, but beat sleep on a park bench or haveing a dinner party at McDee's.
My advice to is buy, then you have a place for a garden or a home business. But hey if your heart is sleep in your car go for it
valhala56 2 years ago
Right now? Been then way for a long long time now. Rent never drops. Its pathetic. The building just get more older and dilapidated. What does the renter get? Shit.
Anothercoilgun 2 years ago
Seems to me that if people cant afford a mortgage they more than likely wont be able to afford rent. As far as rent going down, I think a lot of landlords borrowed on their properties like everyone else did on their houses, In turn pushing them deeper into debt. Anything besides a certain amount of rent collected equals foreclosure for them also.
bufforilla 2 years ago
AND as unemployment will increase resulting with increasing population with decreasing disposable income must mean with more homes becoming vacant that rents will come down also down the road.
edmack4me 2 years ago
Real Estate companies that are acting "executors" for gov't-banks ARTIFICIALLY INFLATE rental prices to support and overpriced housing market.
This is "Price Fixing".
Remember, the gov't wanted a "bad banks" for defaulted loans instead of providing homeowners with real Mortgage Workouts. This gave the gov't-banks opportunity to "hide their losses" by evicting families and re-selling the assest for the decreased value the original homeowner was denied.
CA Real Estate is a scam.
eyewitness043 2 years ago 3
Man on man eyewitness043, I have been saying those very same words. I complete agree. Real Estate is a con.
I call it the biggest Pimpestry of all pimpestry.
Anothercoilgun 2 years ago
Check out: 'MERS & The Forclosure Crisis'video response for an amature's attempt at explaining this widespread real estate hustle. MERS holds at least 60 million mortgages OUTSIDE of the "Primary Mortgage Market" or "MLS" which act by default to inflate the prices that are listed on the "MLS".
MERS is a product of Fannie and Freddie that was first purchased by countrywide then purchsed by Bank of America only to be bailed out by the US taxpayer.
eyewitness043 2 years ago
I will check it out but I already know about the insides of MLS. Thanks.
Anothercoilgun 2 years ago
"Pimpestry" man , now there's a word for today. LOL. Next year in the Webster's Dictionary.
mcgrawtim123 2 years ago
Man on man?? You into that kinda behavior?? Hmmm...
videolover61 2 years ago
great video
32937isready 2 years ago
Check this out on YouTube; The Energy Non-Crisis I thought I knew a few things about what was going on with our country until I watched this. WOW WHAT AN EYE OPENER. Watch the whole video it only gets better.
Chieflandite 2 years ago
Same thing here G4T,good stuff
murphy85202 2 years ago
yes george I agree, you feel my pain :(
sheiki22 2 years ago
In SoCal, I believe there are thousands of homes that are not in foreclosure, yet pmts have NOT been made for almost a year.
When these do hit foreclosure, won't all these people need to rent? I know values will go down much more as the supply of vacant homes escalate
alycephoto 2 years ago 2
true
endendendend1 2 years ago 2
I've noticed an unusual amount of empty apartments in NY.
I service quite a few large apartment complex's, privately owned & government subsidized. Some have entire wings empty. Places that used to have waiting lists are now desperate for tenants. Even the less expensive, poorly located buildings have 2 or 3 empty apartments on each floor.
this is definitely unusual.
PestControl02 2 years ago 5
If you're single or it's just you and your wife. Yes I think that would be the life! For some it's not even thinkable, but I'm having other family members move in with me so we can weather this through. For as far as the eye can see it doesn't look good for the US if it continues it's current trends. It's about survival now!
surviveTHEtimes 2 years ago
My former neighbours bought a sailboat and sailed around the globe in 1 year with their family of 3 kids. It can be done, people live in much worse conditions. I know, I've been in New Delhi, India.
KOPYMEH 2 years ago
Give it time, LA will look like New Delhi!
USAPatriot1966 2 years ago 5
When your're young they should tell you this crap before you sign up for 30 yr mortgage. How many people percentage wise have kept the same job for 30 years, especially going forward. Kinda whacked if you think about it...
surviveTHEtimes 2 years ago
"Housing... A place to lay your head!" I wish I had bought a house with that mentality instead of investment, because I would've been better off. Think about it?Even if you yourself make good decisions, you can't count on the rest of the jack asses in the world to do the same, and how are you supposed to be responsible if your govt. collapses the economy below your feet, and wants to tax you to death? WTF then, meanwhile all the crooked bankers and car dealers make out like bandits!
surviveTHEtimes 2 years ago
Meh capitalism will fall, it's only a matter of time
kancerzx 2 years ago
TheGoy1DF2 - I agree with you on the container housing. Check out Micro Cottages on Google. I'm thinking that would work out very well on a small plot of land. Plus the heating and cooling costs would be trivial. Like George said, you just need a place to rest your head.
ShakeitUp09 2 years ago
Thanks George. Whats bad is its going to get worse. I'm seeing more closings and a lot more homeless in my area. I'm in Atlanta.
psychientology 2 years ago
Its so sad to witness the destruction just because you have incompetent government. Very poor return on your taxpayer dollars.
boots920 2 years ago
Exactly. Government should basicly only handle three things: national defense/border security, foreign affairs and keeping the peace.
KOPYMEH 2 years ago
George here in CT the Government pays alot of pepoples rent and they can be very high often for crap housing in the hood where a woman on welfare with kids would prefer not to live so what happens as gov fails financially? They are going to have o cut the rents. Plus as people with cash buy rentals they will undercut to get good tenants to keep their units rented
jonah70757 2 years ago
A Realtor buddy of mine told me 40 people showed up at a forclosure sale for a 3 family the auction started as 60k and was bid to 120k. The building needed 30k to get cleaned up and rented. The property is in a grey area meaning one block away is one of the worst street in the city, One block in the other direction is one of the best streets. I would not be parking my 150 there, Liquidity Cash is King today and that for me is Gold those people are nuts!
jonah70757 2 years ago
George I hate to say it, but, I think your stacking on some lbs. Better get to the gym with MOT.
Brother563 2 years ago
Comment removed
ruleof3 2 years ago
around here a 3 br is 1800-2200, and EVERY OTHER HOUSE is a Bank-Owned-Property
odin422 2 years ago
How LOW can you go???
odin422 2 years ago
the day you dont' see george making videos on youtube is the day you want to become a real estate investor because the day that this real estate business turns around, you will see george with a big smile at ABC title company making 50k a month.
chingon711 2 years ago
George spends more money on sunglasses then I have on bullion.
JTPNYC95 2 years ago
I am not sure can come down on rent. Think of it, if you have a property, you have to be able to rent it out to make the payment. If you can afford to rent it out cheaper, then ok drop the price. Depends on when you bought it. someoneone else made a good point, you have to live somewhere.
lindabebe835 2 years ago
From my own personal experience, I rented most of my life, always at the whim of a "Land Lord". They provide minimal repairs, raise rent whenever possible, the rental I always had the Landlord himself would never live in those condtions.
Yeah I know P Schiff says it's better to rent. Well maybe if your renting a million home, otherwise your like a serf, Landlord get's forclosed & you already paid your rent, too bad your ass is on the street. I would rather own a house then be at the whim of 0
valhala56 2 years ago
Thanks for the advice George.
starlitopensky1 2 years ago
And I suppose after a real estate bubble collapse the banks will be more then happy to make mortages to more people who sank the economy in the place by flipping, get rich real estate schemes and all the other Blunders that got us into this mess in the first place.
Best bet, like the cash for clunkers, get $8000 cash from the Goverment for buying a house.
Next you will hear the Goverment will pay you to fly the airlines so they don't bankrupt. That's it, pay Americans to buy stuff, Wow!
valhala56 2 years ago
My sister is a landlord with about a dozen houses and a fundamentalist Christian. She will get every plug nickel she can out of you, and don't be late on paying cause you missed work and the kid was sick, she will have your ass evicted and thrown out on the street faster then you can say Barack Obama backwards.
valhala56 2 years ago 4
valhala56,
fundamentalist Christians need to pay their bills too especially since they have to tithe 10 percent of their income to Jesus.
You better believe Jesus wants his cut or else!
Tony Soprano aint got nothin on the son of man. capishe?
Steve2323ZX 2 years ago
At $1,500 or $1,600 a month?
Explain.
silentonall 2 years ago
Also many the home owners that have lost their homes have left the state. So we over built and now many of the residents of CA or going to other states. So in the middle of an economic collapse there is not much you can do but wait for the bottom.
They need to reform BK laws so we can get rid of all this debt.
Bassmarko 2 years ago
It's not the time to buy AND it's not the time to rent? What else is there?
imre1000 2 years ago 2
good point
odeswx 2 years ago