Comments by "LifeAD3.0" (@Leslie3.0Life) on "Adam Taggart | Thoughtful Money®" channel.

  1. I don't like to jump on the bandwagon, but I have to agree with other commenters. Nick and other doomsayers have been talking about a housing "crash" or "correction" for the last couple of years. I usually find his analysis interesting, but not only is he off base today, but he's contradicted himself a couple times. As a 63 year-old boomer, i'm disappointed to see that he's fallen into the trap of forecasting a so-called silver tsunami. This is more like wishful thinking, since the boomer generation has the biggest home ownership. But this idea that somehow boomers are going to all downsize or die off around the same time and flood the market with homes is ridiculous. The boomer generation will be ages 61 to 79 in 2025. Given increased longevity, that hardly constitutes a large number of people dying off in the next few years. And many younger boomers are still working. And let's stop this fallacy of boomer's automatically downsizing when they retire. Nobody in today's climate is going to sell their bigger house to move into a more expensive smaller house. Boomers put their houses on the market due to divorce, a desire to live closer to family, or retirement to warmer or better climates. But many of us also have multiple homes and hold on to our homes for investment purposes or to pass them to children. The sad thing is that I fear that there will be some increased inventory in some markets from older boomers or silent generation homeowner with fixed incomes, who are being forced out of their homes due to rising insurance and property taxes. That's becoming the real crisis.
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  2. ...and I divorced two years ago at 61. Thanks to my insisting that we invest in rental properties, we both had homes to move into- mortgage free. And sold and split the equity from our personal residence. Divorce doesn't have to be devastating, as long as you manage your finances appropriately. I've been following Melody for awhile, and agree with her analysis and strategies. I'm waiting on the sidelines to pick up another investment property that I can househack. Im already seeing prices come down here in Az, along with an increase in foreclosures ( Don't believe all the hype that baby boomers are just dying and leaving a house to their kids.) We own the most real estate, and many of us will continue to invest. In the meantime, I'm converting a detached garage to a studio apartment, and I'm able to easily rent my home while I'm traveling. Real estate is a critical part of a retirement strategy-if done correctly.
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  3. Really? Check out Melody Wright. It's she is an analyst and deals with real data. She tells the real story.
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  4. Here from Az. Retired last year at age 62. I have all three. I really think the key is diversifying your future sources of retirement income. Both the housing and the stock market are unpredictable, and the future of social security is uncertain. I decided long ago that I didn't want to have all my eggs in one basket. And my mother taught my brothers and I that whenever you own real estate- hold on to it. In the long run, it's usually going to be a solid investment.
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  5. I had that same thought. I retired last year at 62. I'm very lucky to have a state pension, and rental income, along with mutual funds and SS. In no way did I ever consider the equity in my house as a source of retirement income. If I was dependent on that, I wouldn't have retired. I have 5 close friends from high school that are around my age and also are retired and own their homes, with no mortgage. I don't have children, but my friends that do , plan to pass along the house(s) to their heirs. I can't imagine that any of them would feel the need to take do a cash out or take out a HELOC, in order to generate income for retirement. I think Adam may be a bit off on this one.
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  6. I understand that people automatically think of the worst case scenarios when they think about being a landlord. But a lot of it has to do with location. I managed 3 rentals for over 25 years when I was married. No vandalism, no evictions. I know what I'm doing. My current house is near a major university and 3 hospitals. I've been renting a room/bath in my house for the last 2 1/2 years to traveling nurses. Not only do I get extra income, but I have someone to watch the house while traveling. Recently, I rented my house for 3 months to a snowbird couple. They used my housekeeper and left it as clean as they received it. On July 1st, I'll be renting my house for 6 months to a professional couple from the university. Mid-term renting (30 days-6 mos) is often overlooked as a renting strategy. ( I would never Airbnb my house!) FurnishedFinders has been a great platform to use to match renters with tenants. As I said, I'm looking for the next investment opportunity to house hack a home where I could live there part time and rent out the rest. Every investment brings some degree of risk. But it shouldn't always be an absolute impediment to building wealth. ​ @DIVISIONINCISION 
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  7. ​ @DIVISIONINCISION I managed 3 properties for 25 yrs while I was married and working full time. No vandalism and no evictions. I know what i'm doing. Much of it has to do with location. My home is near a major university and several hospitals. I've used Furnished Finders, which is a great platform for midterm rentals. (30days-6 mos) You are primarily dealing with professionals, snowbirds or retirees. I've been renting a room and bath in my home for hours for 2 1/2 years to traveling nurses. Not only did this give me extra income, but it also meant there was somebody to watch my house when I traveled I just had a snowbird couple rent my house from Feb-May. They used my housekeeper and left it as clean as they found it. Today I'm doing a walkthrough with a professional couple from the University who will rent my house for at least 6 months. (I'm living a nomadic retirement life- slow traveling through different countries.) I do fine with my ss benefits, pension, and life annuity, but the extra $1,600 comes in handy. I agree that being a landlord is not for everybody, but people shouldn't automatically dismiss the idea, just because people love telling their horror stories. Get a management company if you're that uncomfortable.
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  8. And yet many other economists have said we have been in a recession since late 2023.
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  9. My two favorite "housing market" content creators. Rarely do you come across two individuals who are so balanced, factual and humble in their delivery. I follow them both and watch any time.they are interviewed by others. I live in Arizona, and having recently retired i've been on the lookout for another possible investment property. And everything Melody has observed or predicted in the past about the Az market has been accurate. She was right about the shadow inventory; that the amount of new builds was underreported, and not only have housing prices been dropping, and time on market increased, in all the large metropolitan areas, but i'm seeing a huge increase in the amount of price cuts by sellers. Arizona was one of the hardest hit areas in the 2008 It wouldn't surprise me if we start seeing some of the deepest price cuts in Aizona in the upcoming year. So I'm staying on the sidelines for now!
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  10. And all those American companies will gladly pay the high wages that American employees expect and need.
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  11. Definitely sarcasm. I'm not sure I understand why people think US companies want to bring their manufacturing centers back to the US. Didn't they move them to other countries so they could have cheap labor?​@brandonbloch3144
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  12. Agree. I live in Arizona. There is a noticeable increase in inventory- not only new builds, but also existing homes. There's also a tremendous amount of shadow inventory that is not listed. Sellers are becoming a bit desperate as potential buyers have been boycotting overvalued and overpriced homes. And I think adam missed the mark. Just because the overall national cost of homes hasn't come down much, that's not true in specific markets. I'm on several lists, and I'm amazed at the amount of notifications I'm getting about price reductions - especially for homes that have been on the market 2 or more months. I don't care about reduced interest rates. They're not going be reduced enough to make a significant difference. But I refuse to pay for a house, that is so overvalued due to the 2020-2022 FOMO rush.
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