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Ade M
MHFIN
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Comments by "Ade M" (@adem5762) on "MHFIN" channel.
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Another excellent analysis... Why do people think that bubbles dont burst? They always do.
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The 9000 homes dude will soon be bankrupt, dont worry - they are small investors. As house prices collapse, so to will rental income. But the investors have huge repayments to make on their loans. Any drop in residency, property prices, or property prices will see these people crash out. Many 'investors' went for it in 2020. On the assumption that property prices always go up. But there are 2 generations of people who have not experienced house price resets and adjustments. Even before 2020 the housing bubble was 20 years past bursting, this will happen over the next 4 years. Inventory will go ballistic.
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dotcom721 Incorrect. Dual income homes are living paycheck to paycheck. When one of them loses their job, they lose EVERYTHING.
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Another good Vid. Miami is an extreme in every sense. There is more inventory as people are selling up and moving out in the face of extortionate cost of living in Miami. The state of Florida had 14 named storms last year, 3 of which were hurricanes (NOAA). Flood insurance is mandatory in any part of the state, not just low lying areas. After last years big storm, 14 Insurance companies either collapsed or left the Florida market. Additionally, if your roof is less than 10 years old, any claim is null and void, you are left on your own. You can either play the lottery and forefgo any insurance and hope your house isnt severely damaged and nliveable for 12-18 months (the average time you can get storm damaged repaired). Many people bought into the Florida dream, but soon realised it is a costly nightmare to live there. I guess the constant influx and outflow of people is keeping inventory where it is in Fl;orida.
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The US economy is tanking. Even Blackrock is pulling out of every US market and investing in the developing markets of Vietnam and India...that is where they get their very high returns on investment. You have these headless chickens running around saying the US housing market will never crash. You have to be highly delusional or stupid to believe that is the case. Property prices are always BOOM and BUST. The BOOM years were terrific, and so will the BUST years surpass any other decline in modern history. When Blackrock runs away, you can be sure it is serious.
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There is NO 'FIX' for the American economy. it does not matter which party is in power.
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Indeed, it is entirely the small scale investors with 4 - 500 properties on their portfolio that has created the bubble. But it will bite hard. They abused the mortgage lending system and lied about there financial position. Normally this does not matter, until it all falls apart. They obtained these mortgages under false pretences and legally they are screw- ed. A lot of these portfolio pirrates will spend time in prison for fraud. They thought they were smart and beating the system. But, they were too stupid, you dont get to file false numbers when a bean counter (IRS) catches up with you.
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No point in watching or commenting on this channel. The comments are deleted.
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It is NOT the Govt. But greedy people that is the problem. They think that property prices go up forever. They do not - every 12 years there is a reset...until 2001. Then the bubble started.
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Nope. Homes are sitting unfinished as in Las Vegas, 85% have cancelled their contracts, the builders and developers cannot finish them. Why would you take on a 30 year mortgage at 7%? Especially when property prices are dropping like a brick. Thie building industry is collapsing...you see in the next few months....and it wont recover for many years.
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Indeed, but the crash doesn't hit everyone at once. As the dude says it is like a slow train wreck. But crash it will. Its not just property prices, but the economic downturn will be extreme and everyone will feel the pain....Worldwide. It is NOT just the US, this is a global crash. It's happening in Europe and the US is about 6 months behind.
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When the economy TANKS....a supply of houses will NOT be a problem. It doens matter how much equity you THINK you have on your house, when Foreclosure hits - you will end up with NOTHING.
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In the UK, AirBnB are now forced to send all the revenue gained from rentals to the Inland Revenue...the Tax Office. It looked like a good, tax free side hustle, but all trasnactions go straight to the tax office. When there is a recession or depression, the only way ANY Govt can get extra cash is by 2 ways. 1. Raise Taxes. 2. Hire more Tax collectors. Whatever happens in Europe will migrate to the other side of the pond. Nothing more criminal than Tax cheats....Govt's hate them.
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That is why there is a lot of inventory in Florida. People move there thinking its gonna be great, but soon relaie they cannot afford to live there anymore, upsticks and leave. As you sauggest Home insurance is horrendous and they MUST have mandatory flood insurance ACROSS the state. If you are unlucky enough to have the roof ripped off your house, it takes 9 months before a contractor can get to you and the bill is 150,000. If your roof is older than 10 years the insurance company has a get out clause - you pay for the roof yourself.
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What do bubbles do? If you have invested in stocks, you are already shafted. Buy cheap and sell dear. NOT the other way round. Countries never go bankrupt. Only stocks, banks and companies collapse.
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It is thinking like that that makes you poor. What you are indeed saying is: You are a better investor than Buffet....jeez....you deserve everything you get.
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Unfortuantely, the Foreclosure moratoriums are being shut down. No free down payments, - it is a CREDIT CRUNCH, you get no mortgages, the limit on your credit card is cut, Student loans deferrals are closed as well. Give it 6 months and you will see the US differently. During the epidemic people thought they were playing monopoly and buying up homes with cheap credit. A lot of them lied about their assets, thinking property prices go up forever. Until their empire collapses and a lot of them will go to jail.
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It is a Ponzi scheme. It always crashes. And this bubble is the biggest in history. The handful of Money movers have been selling stocks quietly for 4 years. Leaving the small fry to take the hit. Your million dollars invested in the big 7 will be worthless in a few months. It is the nature of Ponzi schemes. Like the great depression of 1930. You will lose your job, your house, your investments. It happens once every 100 years of so. You think you are wealthy, but you are not.
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Not when there is a Credit Crunch. Give it 6 months and see what happens. When you have Bank Runs .....its going to get bad...very quickly. The ass is about to fall out of the US econom, many have never had there ass kicked out from under them.....They will be upside down in no time. They will be wondering how they become honmeless and living in a tent on the sidewalk. These people that ARE living on a tent on the sidewalk were people like you at one time.
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The apaprtment complexes are there to bring down the 600,000 homeless in the US.
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Yup, silver is the losers metal. it is a favourite in YouTube loser vids. The BRICS bank is backed by Gold. They are destroying the Dollar as the main exchange currency.. But physical silver has and always will be worthless. You lose money on silver as your investment never increases. You get rinsed buying and selling that stuff...lol
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They will. they are talking about a 100 BP rise in the FEDS next rise. There is also the lack of lortgage companies, 4 have already left Fortune 500 in the past week.
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You do not have the insight to see what is happeniing. The FED is now on a credir Squeeze - Quantitative Tightening, menas small businessses will not get the loans they need to keep afloat. Two-Thirds of all US jobs are with small firms. When companies cant get loand, people will lose their jobs, and go into Foreclosure. Your lack of inventory argument is gone. They sit on their 3% mortgage, until they lose their jobs, then their house is gone. The FED only has 2 tools to control the economy. 1. Interest Rates. 2. Money supply. Raising interest rates is not working, so now the credit squeeze will. Its a hard STOP....but its the only way to defflate the economy.
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They are down 20% in San Francisco.....
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