Comments by "Matthew Phillips" (@matthewphillips5483) on "Home Buyers are on Strike | Recession is HERE" video.

  1. Move to Detroit?
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  2. It's simple, if you want to build wealth, you buy low and sell high. Not buying high and sell low. :D
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  3.  @crimson.source  I'm not going to be FOMO'd into buying until it makes sense to me. I have 3 retirement accounts so I'm not afraid of rent. I currently rent a 3/2 SFH in a good area for less than a 2/1 condo in a bad area. Why take the rundown condo just to buy something? It makes no sense. I'll save the delta of total housing payment - rent and place it into index funds.
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  4. Rents are going down where I'm at. Not sure where you are.
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  5. hope this is sarcasm.
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  6. We don't have hyperinflation. Read up on the Weimar Republic for what hyperinflation actually means. Or a more recent example is Zimbabwe.
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  7. Whoever provides value to consumers will win. If that is home builders then so be it. If it's landlords, so be it.
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  8. He is "literally" in Texas which is crashing like the Titanic. If Northern CA was like them, I would have already bought. He is showing incredible patience.
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  9.  @rosemont83  Good...let them use their "bags of cash" to purchase then. I'm not buying until it makes sense for me. I'm renting a 3/2 SFH in a good area and it costs me less than buying a 2/1 condo in a crap area. Why would I buy in this situation? Much better to save, invest, pay off debt, and be patient. Even if prices don't come down, I'll be in a better financial position to buy when the mortgage payment doesn't exceed 30% of my income. The gap between renting and buying is too large here for me to justify buying. Let the fools do as they will. Housing is just the "greater fool" theory anyhow.
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  10. haha, the stock market is a joke right now. It's so strong that it tanks every time Jerome Powell says anything bearish for rate cuts. The whole market is propped up by the hope of rates being cut soon.
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  11.  @issenvan1050  What should win is consumer pockets and account balances. Don't spend thousands more on a trash home to "own" it. Get a safe and affordable shelter over your head. If you want to invest, put your delta into the markets.
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  12.  @datruth4766  I guess someone hasn't seen recent reports? Toronto RE market is on verge of collapse. It did take a while though. Bay Area is next.
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  13.  @datruth4766  Yeah, I guess the opinion of one random internet guy is more accurate than half a dozen articles warning of a Toronto housing meltdown.
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  14. What are you smoking to think the annual household income is $500k?
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  15.  @josimon8315  Min. wage at $20/hr for 40/hr week is $800 gross/wk. Multiply that by 52 weeks in a year is 41,600. Even if two income household is making that, it is 83,200/yr gross. Much different than $500k
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  16. Florida is going to be a bloodbath.
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  17. Whatever helps you sleep at night.
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