Comments by "Andy Hughes" (@andyhughes1776) on "MHFIN" channel.

  1. Since 2022, over 500,000 high paying tech jobs have been eliminated. The only job openings today are low-paying service jobs. Not enough to pay for basic needs, much less buying a house.
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  2. There is no real shortage of housing units. The shortage was due to too many people buying 2nd and third homes (because of low interests). But now with increasing interest rates (and the resulting price collapse), these investors will be forced to sell their investment properties. The market will then be flooded with houses.
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  3. Here's another group of investors few realize will add to the severity of the upcoming housing crash: Foreign Chinese investors. Since 2014, foreign Chinese investors have bought up not only homes in the U.S. but also critical properties such as agricultural land and even land outside U.S. military bases. Now that the U.S. government labeled China as the enemy, I would not be surprised if they invoke Eminent Domain to take back those critical land. If that happens, Chinese Investors will dump all their properties in the U.S. which will further haste the collapse of the housing market.
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  4.  @Chris-es3wf  Let's see who's right in the months and years ahead. Hint: there has never been any time in history anywhere on earth that housing bubbles don't pop. The question is not if but when. The longer they kick the can down the road, the harder the crash later. Many found out the hard way in 2008. Many are about to this time too.
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  5. Jobs that CANNOT pay enough are service jobs that our entire economy is now based on. California tried to mandate $20 per hour for such jobs but that immediately resulted in half of those workers being laid off. So that didn't solve anything but made it even worse because along with increased unemployment, prices went up in order to help pay that $20 an hour. The ONLY WAY to increase pay is to work manufacturing jobs because the resultant products could be sold by the tens of millions all over the world. In contrast, service jobs cannot pay high because not enough revenue can be created by serving a few hundred customers in a local area. But they moved all manufacturing jobs overseas long ago THAT is the root cause of all this mess.
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  6.  @Tunahater  Yep, some trade jobs will still be around for many more years. A friend of mine owns a store that fixes grandfather clocks and Rolex watches. Who owns those? Rich people! He goes to their multi- million dollar home to tune up or fix their grandfather clocks - $1,500 each time. Rolex tune up, a couple hundred dollars. He has no competition because kids nowadays refuse to learn such a trade.
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  7. Why are my posts kept getting deleted?
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  8. The CPI is rigged. If you live with your mom and sleeps on her couch, then you won't see the REAL cost of groceries and basic needs - 30 to 40% higher now.
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  9.  @Chris-es3wf  Here are the numerical facts: https://youtu.be/tsKCjQqMtl4
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  10. The median price of a house in America today is $426,000. That means, a buyer must make around $86,000 a year to qualify to buy that house. Do you think these illegals make that much a year? You make no sense!
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  11. The truth: Low inventory is the result of no one wanting to sell their house. Why? Because when they bought their house (or refinanced), the interest rate was very low - 2 to 3%. Now it is more than 7% - who would want to trade 2% for 7% interest rate? So, they hold on to their house and voila - low inventory! I know you are not fond of illegal immigrants but they didn't cause low inventory.
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  12.  @JonSmith531  Due to low interest rates a few years ago - no one wants to sell their house!
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  13.  @JonSmith531  Now things are starting to change. Soon, it will be the same all over the U.S.
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  14. We never did truly recover from the Great Recession because the Fed had manipulated interest rates to pump up the market. It's full of hot air just like the housing market. This is because our economy is no longer based on solid ground - manufacturing real physical objects that the world needs to use. Until we do that again, our economy will always go up and down drastically. Those who are lucky enough to ride the wave up is doing fine (already rich people with money to invest). Most end up poor to dirt poor because of this roller coaster effect.
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  15.  @DannyS-lr6iu  Yep...so it will get even worse for service workers in the future.
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  16.  @enimamar1100  You think wrong. Google "How many tech layoffs since 2022".
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  17.  @enimamar1100  Look it up. Sure, some found work elsewhere but the pay is less, especially if it's remote work. Many will not be able to find work and meanwhile their skills become outdated the longer they are out of work. This is especially true with newbies (I heard from tech workers with more than 10 years experience).
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