Comments by "Andy Hughes" (@andyhughes1776) on "Real Estate Mindset" channel.

In a practical way, it already is because if you have a low credit score, you cannot live well.
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@MicroOrbit The result is the same - your quality of life is pushed down because of it. In case you don't notice, our society runs on credit now - most everything you buy must be on credit. So if you have a low credit score, you can't buy certain things like a house or a car.... or you must pay much higher interests which compounds your quality of life. That was why I said, "in a PRACTICAL way", it already is a social score system because the result is the same! It's no wonder that so many people live in despair today....and so many don't care to obey the law anymore. They loot and steal with no guilt whatsoever.
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@MicroOrbit LoL....just because I point out the Communist nature of Credit Score doesn't mean I have bad credit. My score is 820. But unlike you and your egotistical shallow view, I know that our quality of life is affected by others' struggles. So what if I own a $120k Tesla Model X (and I do for real) if I must drive through a homeless encampment to get to work. So what if I live in a multi-million dollar house but right across the street from my house are homeless tents. So what if a rich guy can go to an upscale restaurant only to have robbers go through and rob everyone there at gunpoint (Beverly Hills rich area, not a bad neighborhood). Do you get my point? You may pat yourself on the back about how skillful you are in making it in life, you still can't enjoy the fruits of your labor if too many of those around you are kept down. Many people today have low credit scores due to high medical bills (not their fault they got sick). Many more lost their middle class jobs due to factories moving overseas. Again, not their fault. Our economy is about to collapse and, worse yet, the U.S. Dollar is about to collapse. Chances are, you might find yourself at the short end some day. Let's see if you still think it's your ability that will save you then. It's called EMPATHY, which is what only advanced beings have.
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@toinengwyn3935 In 2008, Southern California property values went down by 30 - 50% on average. Vegas went down by 70%. Currently, SoCal homes haven't gone down much, yet other areas in the country already went down as much as 30%. Why? Speculation is caused by perceived demand. What caused perceived demand?
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@toinengwyn3935 What fuels the "exaggerated expectations of future price appreciation"? How come other areas don't have as high expectations for appreciation as SoCal? What is it about SoCal that causes home prices to be higher than the rest of the country throughout history EVEN BEFORE any housing bubbles? In other words, why is SoCal so popular? Why did the Beach Boys sing about SoCal and not other states? Why are there more songs about California than about other states LONG BEFORE 2008 housing g bubble?
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@larynOneka8080 Not all but most are Chinese, especially in places like Southern California where up to 80% are owned by Chinese foreign buyers (not Chinese-Americans). Not fair because Americans' salaries are limited to the local economy whereas foreigners' incomes are tied to their growing economy. That is why they can afford the ever increasing high price. Once again, our government failed to protect us from foreign buyers jacking up home prices beyond affordability for local Americans. No country on earth allows foreign buyers free reign to buy properties at the detriment of their own citizens.
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@shirehytrsveb3118 This may very well happen if the U.S. goes to war with China (if China invades Taiwan). The official declaration of war will have legal ramifications such as 1) Closing our borders to Chinese citizens, 2) Confiscation of Chinese owned properties, businesses, bank accounts, etc. This will cause all Chinese property owners to put their homes on the market in an emergency sale, which will cause housing prices to collapse overnight to their true value (commensurate with the local salary).
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"Oh mine eyes have seen the glory of the coming of the Lord... He is trampling out the vintage where the grapes of wrath are stored..." Opendoor and others like them have devastated hardworking people out of their homes. Now, the Lord is coming for them. Or in scientific terms, for every action, there is an equal and opposite reaction. What goes up, must come down. Cheers to them for imploding!
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Karma is real and it's a btich and a half for their a$$!
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Good, let them back out so that housing prices won't go through the roof and prevent good, hardworking, people from affording a roof over their heads. Housing is a necessity, not a luxury. Hence, it cannot cost an arm and a leg just to have shelter. Karma is good!
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If you think it's bad now, just wait until Chinese investors start selling off all the properties they own in the West from hot places in the U.S. like California to Australia, Canada, UK, etc China's economy is collapsing hence they must sell. Not only that, if the U.S. goes to war with China, they will dump their properties overnight and we will see the biggest collapse this side of the Universe - no joke!
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Stop trying to scam people!!!
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