 About 5.8 million adults say they're somewhat very likely to face eviction or full closure in the next two months according to the survey completed on November 9th by the US Census Bureau. That accounts for a third of the 17.8 million adults in the household that are behind on rent and mortgage payments. I've made two videos about this before. In fact, even before coronavirus even before the economy took a turn, I've been saying for the last four or five years, buying a home in a major metropolitan area is suicide. It makes no sense financially. And I always repeat this. I'm not saying real estate investing is bad. No, it's great. Just how you approach it is really bad. I mean, really, really bad to put yourself in a $800,000 mortgage. Any major city, I'm from Toronto. So let's talk about the major cities, Toronto, New York, Vancouver, anywhere in California, Hong Kong, like the major hubs. When we think of major hubs, they have the most exaggerated overpriced per square footage you can possibly think about. Yet you're sold the bullshit story of go into ridiculous debt and you're in debt for the rest of your life for property that I guarantee you is not going to increase by three to five X or as your parents increase by 10 X. It's not. And specifically what's happening with small businesses. There's a straight out war in small businesses. So Walmart, Costco and nothing against Walmart or Costco. I'm just using some examples. Walmart, Costco, these other big chain, they're allowed to stay open and they provide food. But yet me as a small business owner, I can't stay open. I can't provide for my family. I can't pay my mortgage. And I'm thinking this is actually a conservative number. I think we're going to see way, way, way higher numbers. However, however, instead of me sitting here saying negative news, let's put a silver lining on this and talk about something that you can do today. And like I said before, I've been talking about this for a very long time. So let's look at remote statistics. In the last 12 years, it's been 159% growth in remote work over the last 12 years. And recently, many of the top companies around the world have stated that they're going to go to a hybrid model of remote work versus in person work. And why this is important is for the first time ever, it's becoming status quo around the world for you to work remote. Before it was like, well, if you're not really in Silicon Valley, if you're not in the tech industry, this whole remote thing is like, what is this? It's different. We can't really do this. Well, now they're forced to do this. And people are realized, wait a second, this is really good. I don't have to pay crazy rent downtown Toronto. I don't need insurance on a crazy building. Oh shit, I save so much money. Oh shit, my employees are happier because they don't have to travel an hour and a half each way spending three hours of life on a daily basis. And so this is a silver lining. And what I want to show you right now is example with any least a Toronto, Ontario real estate. And this is applicable to Vancouver, applicable to Los Angeles, applicable to the Valley, applicable to New York, applicable to all the major cities. They for the most part had this problem. So if you're going to Toronto and it's fucking crazy, you look at two bedroom, 2,025 square foot, it's not like a big house. And you look at the lotage. It's 16 and a half by 80 feet. It's a peanut lot. But look at the price of $1.2 million. You don't get a garage for this. You get street parking. Mind you, it's nice inside. Sure, right? Hopefully you see some pictures here. It's nice. It's okay. Nothing crazy. But $1.2 million for a normal size house with no garage with street parking. You need to put 20% down on this at $1.2 million. You're talking about like $240,000. Say quarter, let's round it up. You've got to put quarter million dollars down. Your mortgage is going to be insane. Let's say they even loosen up the percentage to put down in the mortgage. Let's say you put down 10%. That is $120,000 you have to put down. I don't know about you. I don't know too many people walking around with $120,000. But regardless of that, you look at your burn rate per month, the mortgage, the insurance, the utilities, the maintenance. A lot of people forget when they buy the house. There's something called the 1 to 3% principal maintenance fee. So instead of you paying your condo fees, you have to save money as a homeowner for when she hits a fan. Plumbing, you pay for it. Electricity, you pay for it. Shingles, you pay for it. Who knows what's going on? A mold infection, which is quite common. You pay for it. So you need to set aside X amount of money for maintenance. And then you got property tax. The taxes for this are $5,000 a year. That's just taxes. And so the quality of living is pretty shit if you ask me. Not to mention your overhead is ridiculous. But because of remote work, things are changing. So I pulled up this nice little property. This is Midland, Ontario. Cute little town, up and coming town, right beside the water, about an hour, 40 minutes, literally north, due north Toronto. You can get this guy for $420,000. And the lotage is great. You got $55 by 132 feet long. So it's a nice size lot right beside the water. Taxes are quite cheap. Taxes are only $2,700 a year. And think about this. You can put 5% down because it's underneath a million dollars. Five times four is 20. Let's just keep it at 20. You can put $20,000 down on this, get a mortgage. If you put more than $20,000 on, it's great. You can get a cheaper mortgage. So your burn rate is lower. Your taxes are lower. Your quality of living is better. You're in a huge fucking law. And because of remote work, you can do remote work here. And if you have to go to the office, it's less than two hours away from Toronto. And I'm using this example because this is where I live. And I know the real estate in this area, you can use this for New York. You can use this for California. You can use this for Vancouver. You supplement where you live. But I'm just giving an example over here. It's like literally for more than half the price, I can have a hundred X better type of quality of living, be near a body of water, still have money left over on a month-to-month basis, and not be fucking stressed out. This is the most fucking important thing. And I really, really do hope that people start waking up and realizing you're being scammed into thinking, going into debt, buying a 600 square foot condo for $600,000 or 2000 square foot house for $1.2 million without a garage and street parking is the norm. It's not the norm. It's stupid. Like, that's it. Plain simple, just dumb, dumb, dumb. And I really hope more young families or individuals start realizing there's better options out there. 90% of the jobs, in my opinion, are old data input, meaning they just need a computer. Meaning you don't need to work in the office. And this is why I say it's a silver lining. Corona has really forced people and opened up the normalization of we will start doing remote work. And this is going to help a lot of people, maybe snap out of it and realize, I don't need to be spending $4,000 a month on a mortgage, plus insurance, plus this, plus that, not to mention, especially now with Corona, what luxuries do you have in the major city? Restaurants are closed, gyms are closed, everybody stressed out, everybody's hating on everybody. It's shit. There's no value. You know, let's talk about business. What value proposition do I have living in Toronto right now? I don't. There's no value proposition. That's why very, very soon, I won't say when, but I'm already gone very soon. Within the next four months, I'm out of here. It's already set up. So there's no value proposition for young families. What's over? Zero. So I quickly want to show this video. Yes, real estate is crashing in many parts of the world, primarily United States and Canada too. People think we are somehow not affected. Yes, we are. We will be. Trust me. And so hopefully people wake up and realize I'm out, man. I opted out of this city life and I'm going to go live a much better quality of life as opposed to quantity of things. All right, guys. Peace out.