Comments by "Crime Stoppers" (@crimestoppers1877) on "Millions Move Back Home: Housing Market Crisis" video.

I am a boomer and took advantage of the crash of 2008-2012. I now own five single family dwellings (No mortgages), pay property taxes, utilities, maintenance on each of them as I enjoy my retirement with zero active income. My kids each own their own house as well as additional houses for investments. None of us have tenants since tenants pose more aggravation and expenses than the minimal profit that can be extracted. House prices can drop 500% and I am still in a good financial position with no mortgages and tenant income to deal with. Bring it on! My key to winning is be frugal and plan for the long range not day to day needs. Also stay away from incorporated cities. The more pretend services, the higher the taxes. I look for opportunities with minimal city and county services. I learned that population density is an important factor. Humans like rats will start killing each other if they are packed too closely. My few neighbors own our own private streets with our own armed private patrols and volunteer fire department. What else do we need? More and more people are learning that the real evil in government is not just at the federal level but the city county and state graft that destroys anything they can tax with waste fraud and abuse. There are zero homeless in this area! Why? We have no free handouts or services that attract them. If a neighbor has needs, we all volunteer to help them (no government grants or "do-gooders" who pay themselves first) while fake working from home during this latest excuse of a never ending pandemic. Never use a DPA, FHA or GSE mortgage service or you WILL be a debtor.
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This says more about the character of these adults. Selfish, immature. This is not a "multi generational" situation it is a lazy couch surfing "Me first" behavior.
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@jomr4249 Here is another way to look at my questions so you can understand my questions. Forget about housing or renting costs. During the day while working I noticed that when I am not working I am spending money that I need for saving. There are 24 hours in a day and 8 hours for sleeping and rest. This leaves 16 hours to work or enjoy hobbies and interests. I found that if I work in a job that is also my "hobby" it is easy to work more than 8 hour days! The problem is most employers do not like paying 1 1/2 and 2 x for overtime work. What to do? Two things come to mind. Be highly efficient, productive and only produce excellent work. Managers are always looking for ways to maximize profits so they will either pay you more money give you more overtime or you can work additional side jobs in the same way. The second thing I learned is that I am NEVER "above" any job that pays money. This is a common incorrect assumption that leads to smugness. The result is that I am always "busy" at my "hobby" of work. It only takes some observation to realize that if you can be more productive with higher quality why can't you start your own business and only blame yourself for failure or success? I have done this many times with some wins and some failures, but I am better for it. I no longer do regular ( active income) work as an employee. The income taxes are outrageous. Each of us is responsible to ourselves, not our family or government. Once you understand that ALL government is only a pretext for excuse making, intangible benefits" and enriching those working in it. From this context I politely ask questions. Have I ever had so-called "vacations", "weekends", sick days, or "holidays" ? Very few. But I am not a victim and enjoy winning. It is always YOUR choice what to do with your time. The younger you are when you learn this the more successful you will be. I also I make time to volunteer to help others, do you? Is it time to define yourself as a "winner"? Stop blaming others, the market. the boomers or anyone. Consider prepping to get you in the mood?
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@Jeff__M Okay we may agree on a few things like Frugality. How can a cash buyer be priced out of the market? I am also as cash buyer or maximum ten year mortgage holder and do not see a big issue. FYI I sold in 2007, rented for five years while I watched the bubble explode and purchased back in on June 2012. Yes I timed the market accurately. This time I predict a larger bust after reading about how many young people actually work in their alleged jobs. I see a huge drop in house prices unless mortgage companies come up with new scams to help unqualified or marginally employed people go back into house debt again. My problem is too much cash. I no longer trust the stock or bond markets because those in control also own the regulatory bodies. Look at FTX which had no boundaries and was also the number two campaign contributor to the POTUS. "Nothing to see here" ha ha. I do not spend like crazy since it was lots of work earning every dime. I remain frugal but this time I grow most of my produce and trade items that I need. Neighbors with hens and eggs for produce and neighbors with milk and beef Angus cows. I just received 120 pounds of rib roasts last night. i will be roasting chestnuts on a nice grill tonight. I also continue to penny pinch, but found a great deal on a 2022 vehicle that runs on gas. Done! Nice ride. I rarely go shopping since that requires the use of money or prepaid credit cards. I have what I need and am comfortable. Not worried about the future since I am "mostly" prepared ( no oil well yet). FYI I also do not like to sell anything --> Taxes for government employees who add zero value to their lives and ours.
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@Jeff__M I might be selling one of my houses. No mortgage, no tenant and I bought it in 2013 with 6 new custom houses adjacent to it at present market value of 2 M each. I do not sell at market prices since I hate a long excuse laden escrow period. I also prefer pocket listings or no listing and dual agency for a FAST close. In my world lowest and BEST is my strategy for buying and middle to BEST is my strategy for selling. I never get "buyers remorse" or litigious buyers when I buy or sell in California. I leave money on the table (market equity) but that's the bait to sell quickly. I am not greedy on selling price but also not ignorant. I prefer Dual Agency in all transactions as a prudent buyer or seller. I have investor friends who have the same Buy and hold philosophy. The US tax code is what dictates my selling or buying a property. LTCG is the way!
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@@mortgagemonitor7331 This has zero effect on my situation.. When I buy the market is low and I nick and additional 33% below CMV to assure paper equity the day I close. Couple this with a cash deal of no more than 10 year low interest mortgage and I am still ahead of the game and can close at any time. I also only use Dual Agency which helps for strong buyers and strong sellers. If I am a comparative weak buyer or seller I would never do a Dual agency deal since I don't want the risk.
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@duanerackham9567 My kids were not born "early", and my grand kids were not born "early" and this includes Gen X, Gen Y and Gen Z. All of them bought at least one house and one that last Gen Z is now paying off all remaining mortgage and is ready to buy a larger house. Nothing to see here. Each one of them does not work for a government job and is not on a welfare program and none were ever homeless. There is a common interest that they each have: Love of real freedom ( and freedom from debts) , independent workers who must be productive and all of them subordinate immediate wishes to future plans. The main obstacles include needless borrowing and debts and a desire to always be productive in your work. Productivity is so rare that managers fight for productive workers since this is what makes them rich, not who you know in a government job. My first job was at age 12 and I never stopped working. No drugs, no booze, no government, no woke and no victim blaming and excuses for failure. This is why I prefer Dual Agency and pocket listings they limit the market to motivated and qualified buyers and sellers. This saves time for all while others are busy trying to look "qualified" on paper. Cash or conventional mortgages only. And I forgot NEVER tenants, rents or leases, or other whining.
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@stevenshorten6184 Five, and they are all empty. The hassles with tenants ( excuses and reasons for everything) is not worth the nickels and dimes I profit from them. If I make a profit my tax accounting paperwork is a nightmare so why bother? Over the long haul, I found a person makes money on most real estate deals when they are buying not selling. I use the Buy and Hold theory. I never have to worry about the local market swings one way or the other. I buy at 30% below market and sell ( rare event) in the bottom 50% of the CMV for a FAST uncomplicated sale. I also prefer to list as a pocket listing, and only Buy or Sell with Dual agency. This removes the "looky lous", time wasters and unqualified. The downside includes the multiple property taxes, insurance, maintenance, landscaping and utility bills ( water- grounds and electric -security systems). It is tenants who taught me this strategy. They have too many reasons and excuses for failure,. will save the aggravation by not renting or leasing to anyone. If I need some cash I just sell a house. This decision is made by my tax accountant. I use LTCG real estate owner occupied as my "passive income". No mortgages to worry about on any of them. If all tenants were responsible why would they be tenants?
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@@mortgagemonitor7331 I have properties that lost more than that. No problems since no mortgages and always buy below CMV (30%) as well as market timing. Buy Low and sell higher ( never "highest" ---big mistake for most when the market reverses in as short as a week).
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@sonicboom2723 Yes, I maximize my productivity and efficiency by working in my hobby which is buying properties. You are free to buy whatever you want with your income, I only buy properties. I am very frugal and always have been. Your life is much different because of the way you budget. My budget is close to 90% for investments. That means virtually no expenses for non investments. Initially this was a miserable but over time, my investments increased at least as fast as the inflation rate. I am frugal and not greedy. I volunteer for my pet projects and minimize active income as much as I can. It is all about choice. No inheritance here, no high paid jobs here, but no needless spending.
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@jomr4249 I have family in their late 90's who live independently, drive cars and still "kick ass and take names".
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Not a problem for me. No mortgages and low taxes as long as a Woke public school district is not near.
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Not from my view. Most supervisors and managers are actively seeking employees who are productive and responsible. Instead we find whiners who have zero responsibility and complain that $22.50/hour minimum wage for pretending to work is not a "livable wage". I was on a recent visit to a large city and observed countless "homeless" with the latest smartphones ( Obamaphones?) to help them "find" a job or more welfare benefits. They can't seem to figure out how to clean up their own trash.
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