Youtube comments of Robert Rochester (@RARochester).

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  134. I earned my MBA in International Business Administration; no one forced me to go to school and no one threatened my family; it was my CHOICE and I paid back every dime that I borrowed; everything is relative ( acknowledge that !! ). There is NO predatory lending; they signed on the dotted line without duress and of their own free will. They agreed to the terms of the loan, therefore, they should PAY all of it back; it's ALWAYS been this way. Tell me; how does a full time student that doesn't have job able to go to Cabo San Lucas/Daytona Beach/Fort Lauderdale four (4) years in a row for Spring Break ? Help me to understand; I graduated with a 3.3 GPA from Grad School so help me make sense of this ? It appears that YOU don't understand that these " students " defer payments while not acknowledging the fact that INTEREST accrues on the original debt so please don't insult former students like myself with BS. Biden COMPLETELY dismissed those of us who SACRIFICED and paid back what we owed without crying about it like petulant children. Finally, the more " students " with degrees drives down wages and salaries when you consider the ECONOMICS of the situation; more people chasing fewer jobs means less pay ( downward pressure ); simple supply and demand. What's more; there will be fewer jobs in the future due to the advent of artificial intelligence and advancements in technology. So useless degrees i.e Art History, Liberal Arts, African American Studies or anything to do with humanities is the risk you ( student ) agreed to take with regard to finding a job.
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  203.  @keikairin2038  WTF does this have to do with my post ? I was talking about American and Canadian students not just International students. Also, how is it ILLEGAL when these international students are here via student visa ? WTF are you talking about ? Get some help !!!! This is one of your quotes " No more foreign bought houses. " and another " We found that a lot of the "investors, realtors and builders" were foreign. " Who is " we " ? You do realize these comments are discriminatory in nature and further still, what you described is called Foreign Direct Investment ( FDI) and has been going on for ages. This type of commerce is vital to any economy; the US and Canada invest in " foreign " countries as well. It's fine with me if you want to be pissed off but what you're seeing is Capitalism at work and until the housing supply increases exponentially to meet the growing demand then the problem will continue to persist. " You do realize that a large percentage of buyers ARE the international students who don't want to pay rent here and will try to rent that property unsuccessfully for too high rates once their studies are complete right? " What was the point of the above quote ? What is the percentage and what are your sources or did you DIVINE this from your " feelings ". So what if these students buy ? Don't you want to buy instead of paying rent ? Isn't this normal ? It's legal to do so; how come you're not PISSED OFF at the Canadian sellers ? If the Canadien sellers discriminated against " foreign " buyers they'd be in trouble with the law don't you think ? I think your anger is GROSSLY misplaced. Like I wrote, get some help because my post had ABSOLUTELY NOTHING to do with your rant. Read my post again........
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  361.  @cripmo425  People cannot be approved because affordable housing is drying up by the day. People who could get a loan last year with the same financials are priced out because both the home prices and interest rates increased. There will not be a crash or correction; as a realtor yourself, I'm sure you're aware that loans taken out were fixed and not adjustable. Those folks are staying put which keeps supply of homes OFF the market and as a realtor yourself, you are aware that historically people would move every five years, well that's not happening anymore because if people were to move their property tax would go up because of the increase in home value thus leading to an increase in homeowners insurance; people are not moving or switching which keeps supply OFF the market. Builders and GC's have no interest in building affordable units because there is such little profit so they ( GC's ) build the high end homes because profit margins are higher and it's a better return on materials and supplies that are in short supply. Further, as a builder, why would you build more homes bringing more supply to market thus driving down prices ? Why build ten homes and make a $100,000.00 profit when you can build three and make the same $100,000.00 profit because of scarcity ? Which in and of itself is price manipulation. According to RedFin; the housing supply is 4 million units short of what's needed; you can't build your way out of that with a bottleneck in the supply chain. What's more, supplies and materials will cost more in the future not less. Demand for housing will only increase because ALL of those students in college will be looking for housing upon graduation and will be competing with the thirty year olds that are already in the market. The folks that no longer qualify for a loan will regress back to the rental market thus driving up or maintaining the rentals prices because they can afford to write a check for twelve months rent up front. If you were a property manager you're going to take that $24k ( $2000.00 a month ) and put those funds in an interest ( escrow ) bearing account and make free money and telling the first, last and security crowd ( $6000.00 ) to look elsewhere. You are in for a serious reality check; the last bus has already left and you're sitting there waiting for another to show which isn't coming.....
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  382. Listen people; there will not be a crash or correction in Florida. This state is too ATTRACTIVE for there to be a crash; we've survived 9/11; the Great Recession of 2008 and Covid 19. So long as there is a dearth in housing units, the real estate ( RE ) market will remain steady for the foreseeable future. In South Florida there are three ports of entry; Port of Miami; Port Everglades and Port of Palm Beach along with three International Airports to include Miami, Fort Lauderdale and Palm Beach. South Florida remains a gateway to South America and the Caribbean and with no state tax ( already mentioned in the video ) and low sales tax ( relative to other states ); the RE market will continue to be a great investment vehicle among all the asset classes. The sellers will have to get their heads out of the clouds because the pendulum is starting to swing in the favor of the ( few ) buyers that are in the market. There will always be sellers ( people trying to cash out; divorce, death, layoffs or job relocation ) and the buyers will have their pick and leverage to negotiate a realistic price; some housing units are sitting empty due to some being second homes and others that are restricted because of Homeowners Owners Association bylaws stating no renting/leasing for the first year or two of ownership. This may be an attempt at curbing AirbnB but in any event; the landlords both corporate and Mom and Pops will enjoy the tax write offs of these empty housing units. People are moving into Florida from everywhere and not just the Northeast but from South America ( particularly Brazil, Venezuela, Colombia and Ecuador to name a few ) as well as Ukraine and Russia along with transplants from California and the middle states. Florida has several NFL, NBA, MLB and NHL teams along with Disney World and Key West and all along the Gulf Coast of Florida whereby it's all appealing to practically every demographic you care to mention including the retirees. So no, the RE market will stay strong and the locals that are forced to move out will be replaced by the rich moving in; which in turn stabilizes prices. The high interest rates can be written off by both landlords and home owners ( for those that can afford it ) so again, the buyers will be few and so will be the sellers ( so called Golden Handcuffs ) which keeps things steady going forward; relax people.
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  414.  @asongfromunderthefloorboards  Ok, I read all that you wrote which is a compliment. I was born in 1966 so I'm ENTIRELY familiar with historical facts. This is where you went off the rails; ALL generations are subjected to this economy that more than likely YOU and your contemporaries VOTED for; YOU are INCORRECT with regard to Republicans and the " transfer of wealth from the poor to the rich "; the POOR didn't have money to begin with and that's WHY they are considered poor, CORRECT ? This is where I point out your myopic and biased viewpoint; ALL generations are subjected to this economic disaster that YOUR generation VOTED for; who are the parents of Gen Z's and the Millennials ???? That's right; it's the Gen X'ers and Boomers who are currently SUPPORTING their ADULT children; WE are the ones providing HOUSING and substantial financial AID to YOUR generation. In addition, the Boomers and Gen X'ers are the ones PAYING for assisted living facilities for GrandMa and GrandPa while SUPPORTING YOUR generation. This economy ( that you voted for ) does NOT discriminate; things were BETTER under Trump. I'm a Clinton Democrat but I'm voting Trump ALL the way and you should as well. EVERYTHING changes in time; NOTHING is static so you're NOT telling me ANYTHING new so think about what I've written and make sure that you consider the facts when voting in the next presidential election. Since Biden has taken office the cost of living has gone up for ALL Americans NOT just Gen Z's or Millennials, ok ? Remember that when you vote............
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  509.  @keikairin2038  Let's be clear; you're not educating anyone, you are merely venting and relieving yourself of anger and frustration. You EXPLAINED nothing apart from displaying your ignorance of the law and how capitalism works. To be clear, I didn't attack anyone; I responded to your post that you addressed to me, remember ? What's more, I'm not a dude and to use your word; I didn't " attack " anyone; I have no skin in this game and this nonsense about International students not " allowed " to purchase properties in Canada; where did you divine such garbage ? You never answered the question as to how they are illegal ? If these students are allowed residency in Canada utilizing a student visa then what's the issue ? How is this illegal ? They do it here in the US all the time and some of these international students are sponsored by companies like Google and Microsoft to work legally with the use of H-1 B visa, perhaps you've heard of it and if you haven't look it up. I live in the United States of America and what happens in Canada is of little consequence to me. If you are unable to afford a home for yourself and your family then that isn't my problem. Perhaps you can write to your representative and voice your concern to the appropriate parties instead ranting on the internet and making nonsensical statements that are discriminatory in nature. At this point; your mental sickness and depravity is getting the best of your senses and you should seek help from a therapist.
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  553.  @Jaystyr424  Understood, however, the supply of rentals cannot increase in tandem with demand or even catch up ( it takes a long time to secure financing; obtaining permits; acquiring building materials, supplies and labor, this process can take years in some cases because of politics and the NIMBY crowd ). According to RedFin; in the US, there is a shortage of OVER 4 million units; you cannot build your way out of that and what's more, hundreds of thousands of college graduates will be exiting those college dormitories and will need a place and the specter of moving back in with Mom and Dad isn't what they bargained for; in other words, demand will outstrip supply. Rents will not continue to go up exorbitantly but increases will be slight and possibly plateau; basically the percentages will be the same. Demand will go up and so will supply; builders make more money selling million dollar properties as opposed to " affordable housing units "; remember the same building materials are used in both dwellings. You are correct; people will shack up with one another and some will move back home but these numbers are insignificant; it's not a pretty sight out there. Whatever housing units come online; they'll be snatched up by real estate conglomerates ( they're the only ones that can afford them ). A new way of life is on the horizon; a lot of people lease their cars and lease their homes as opposed to owning outright. It doesn't bode well for anybody; this I agree with........
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  631. Nothing is going to change significantly only marginally; this is the new normal, people who are on the sidelines are there for the foreseeable future if not permanently. Now, why do I feel this way ? Simple, back in the late 80's to early 90's interest rates were high but (1) you could write off your interest payments ( still can ) and (2) there was housing supply so that kept housing prices down. This isn't the case today; supply is low and that's why prices are high; prices will remain high because it costs' more to produce ( build ) homes now than ever before so everything that comes online will be out of reach for most buyers hence " build to lease " as opposed to " build to sell ". Interest rates will remain high to combat inflation which in turn makes cost of living more expensive including the cost of production ( homes ) as I mentioned earlier; in the " old " days, there was an inverse relationship between the cost of a home and interest rates i.e. high rate then low sell price; low rate then high sell price; this was true because there was supply and people moved on average every five (5) years, not so anymore. This is a different animal and it's here to stay; there will be an entire generation of renters and unfortunately the rents will be so high that it's next to impossible to save and generational wealth ( inheritance ) is being wiped out because it's being used up to pay for assisted living facilities for grandma and grandpa along with the insidious reverse mortgages makes for a perfect storm of a permanent underclass of Americans.
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  638. Too many people and particularly first time home buyers are focused on what they want; they need to change their thinking and buy a property even if it's fifty miles or more away and then turn around and rent it out while paying rent where they are or in their desired area. It's important to get on the property ladder and start building equity because this market will NOT be turning around at anytime. This is the new normal; builders are not ( lack of a better word ) going to waste valuable building materials to build " affordable " homes because there is little profit in that market; instead, building materials and other resources will be directed to the million dollar market because 20% ( example profit margin ) of a million is a lot more than 20% of $200,000.00. According to RedFin; the US is approximately 4 million housing units short; you cannot build your way out of that; real estate investment firms will continue to buy because housing is a tangible asset with built in tax write offs while utilizing market manipulation to create artificial scarcity by keeping some units empty; thus increasing the rent for the few units they make available to the market. These real estate conglomerates NEVER lose money even if the unit is empty; it's a write off ( revenue loss ) and they can take depreciation and upkeep on those empty units just as they do with occupied units. It's not much different to what OPEC does with oil production. None of this will change; no matter what the local, state and federal government tries to do on behalf of the citizenry.
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  696.  @hvaball150  Please, I've done the math and I can assume ANYTHING; I assume the sun will rise and I assume that it will rain; it's called forecasting and there isn't ANY business that doesn't do this; now, housing cost will not go down because the need for it will be constant; what no one is talking about is LEGAL migration; there are TONS of people from South America from Brazil to Venezuela to Colombia as well as ALL of Europe and then throw in expats from the former Soviet Union and you have a need for housing that outpaces developers ability to build; the cost of loans are high due to interest rates. The cost and time needed for permitting, land acquisition; loan restrictions and other resources prohibits building on a timely and large scale. I'm on my 3rd tenant and at the conclusion of each lease I was able to increase the rent by $300.00 a month which is LOW compared to others; it isn't common for reserves to be funded; this I know because banks ASK for more money down depending on reserve status; people are JUST NOW advising against condos that 3 floors or higher because state law ( Florida ) requires a stress test and whatever the findings ( assessments ) then the cost are spread amongst all the units even the ones that are not affected. Tell me; you think real estate investment firms like American Homes 4 Rent, TriCon as well as Blackstone will be going out of business ? These are multibillion dollar corporations. You need to understand this; people die ( funeral homes ); people need a place to live ( housing ) and people need to eat ( self explanatory ) so don't talk about sh!t you don't know. This is your quote " renting is cheaper as the product loses value " ??????????? You been to NYC lately ?????? Or anywhere in California ???????? How's the rent in either of those places ????? Have they been going down ????? 🤣🤣🤣🤣🤣
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  793.  @clean_rene  Young people are unprepared because they are NOT interested in preparation; if they were there wouldn't be a problem. The decision you made; I'll quote you, " And I worked very hard for my career and will continue to do the same" was a conscious decision wasn't it ? This comment you made " so we know how to answer the interview questions ", WTF is that ? Every interview is different; every company is different; there ARE no UNIVERSAL answers to questions due to the fact it varies from one company to the next. WTF is this sentence " But it's not our fault we were socialized this way. " ? If you were socialized this way then how did you get your job ? Are you starting to see the inconsistencies is your argument ? Here's another claim that is without merit made by you " These days nobody wants to teach anybody anything. "; where did this come from ? Didn't you take the initiative to learn ? Didn't someone teach you in order for you to get your qualifications ? This is another of your comments " I was just hired for my QUALIFICATIONS "; you got hired because you were qualified and if you weren't you'd still be looking for a job. The fact is you are PROOF POSITIVE that if you work hard and take the time to get " qualified " and " learn " what was " taught " to you then you'll succeed. Go ahead and read your entire rebuttal again. The generalizations that I made is just that; in ALL generalizations there are EXCEPTIONS and you are one of them. My claim still stands for itself.
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  901.  @asongfromunderthefloorboards  I don't care WHO you voted for; however, voting for Ralph Nader was obviously a WORTHLESS vote but that's your right; nevertheless, do not overlook the fact that EVERYTHING I wrote is true. This economic disaster affects ALL generations and not just yours; this is where being selfish and self absorbed and blaming others for your failures comes in; you are a " victim " of YOUR bad decisions. This is America; you are free to do and accomplish what you want and if you don't then that's on you. It's YOUR decision to vote OR not vote; it's YOUR decision to choose your career path; it's your decision to keep working at your job or to find another and it's your decision to vote for what is best for our country and if you don't like/love our country then it's up to you to leave. The wealthy become wealthy because they are SMART and start companies ( Elon Musk and Jeff Bezos ) that employ hundreds of thousands of people. Guess what ??? It's the decision of the poor to work at Tesla or Amazon or work someplace else, correct ??? Shareholders invest in companies and those companies USE the cash infusing to grow the business and expand thus adding more jobs. If you went to business school then this concept would be VERY EASY to understand; Amazon lost hundreds of millions of dollars for YEARS before it became the powerhouse that it is today. Let's say Jeff Bezos decides he has enough money and SHUTS down Amazon and puts the " poor " out of work; how do you " feel " about that ?? Let's say he doesn't want to make anymore money " off the backs of the poor " ( I'm trying not to laugh here ). What do YOU think would happen ?? Do you think the " poor " would be HAPPY about losing their jobs ?????? What do you think ???? This is what's happening now in the tech industry; seriously what do you think ???? LMAO....🤣🤣🤣🤣🤣
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  1064.  @stus2159  Very easy to explain; more people chasing fewer housing units drives prices up. The influx of migrants both illegal and legal are competing for housing along with US citizens; it cost more to produce housing units today than in the past due to an increase in labor cost as well as materials and supplies. Almost everywhere in the US you'll find people talking about traffic congestion; well, property taxes goes to pay for expansion of the entire infrastructure to include roads, sewage lines, etc. It takes years to break ground to build when you consider land acquisition, permits, financing, land prep ( razing ) and lining up resources like labor and securing supply chains for materials so that the job doesn't come to a standstill because the builder can't get lumber or drywall for the project. Rent control is an insidious program that drives rent up because it takes housing units OFF the market thereby driving up the rent of the remaining units because this is needed to OFFSET the loss of rent control units so in other words; people like you are subsidizing baby momma who has two kids and works at Burger King full time. Do you know anybody who lives in rent control unit ? They NEVER leave right ? This is why the wait list is so long; somebody literally has to die before a rent control unit becomes available; the people that vote for rent control are in effect screwing themselves because they'll NEVER qualify because they're not POOR enough to get into one of those units. As for wages ?? EVERYBODY who works a working class job is underpaid; it's how businesses make a profit but if you pay the dishwasher at TGIFridays $20.00 an hour; how much will your Burger cost ? I could go on and on but I'll stop right here; you get the picture.
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  1091.  @MS-mn5uz  Property associations throughout the country should lobby for lower taxes ? Are you serious ? You obviously don't understand that each state and each municipality within the state has their own laws. What tax incentives are you talking about ? Why would local governments provide tax incentives to slum lords to keep their property in disrepair ? It's because of rent control; they can't get their invested money out because of the restrictions on how much they can charge because of mandates for rent control. You don't understand how any of this works; the free market ultimately determines how much landlords can charge; do you think real estate investment firms like Invitation Homes, American Homes 4 Rent and Tricon are going to set rent at prices that people can't afford ? You don't understand business or economics; you need to just stay in your lane. Read the following of a landlord on this thread; what he wrote is how I am towards my tenants as well.... @guillermone1 1 day ago (edited) I'm a landlord, and when my tenants encounter personal or financial issues, I work with them. I could easily start an eviction process, but my first step is to search for alternative solutions before starting any type of arbitrary action against them. I also keep rents slightly below market value where it is still affordable enough for them to make timely rental payments and I keep it that way as long as I cover my expenses and still make a profit at the end of each month. It is for this reason why my rentals are long term with low tenant turnover. I may not be as rich as everyone else, but I have happy tenants and most importantly my peace of mind.
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  1320. Of course and I’m glad you asked; it tells me that you’re open to reason. Trump (1) used tax cuts that benefited everybody by doubling standard deductions from $6k to $12k which puts more money into everybody’s pocket (2) he secured the border and kept out the freelloaders including the murderers and r@pist’s. Unfortunately, Biden tore down ( rescinded ) these policies that kept US citizens safe, however, since Biden took office, Larken Riley of Augusta University was killed by an illegal immigrant from Venezuela (3) he held our allies accountable, everybody is your friend when you’re picking up the bill. The US pays 80% of the budget for the UN and 100% of the budget for NATO the last time I checked. Trump wanted our “ allies “ to pay their share of the bill and that upset a lot of people. The fiscal and foreign policies he enacted proved beneficial to many US citizens. We weren’t engaged in wars and there was relative stability around the world. When Trump was in office, inflation was a non factor and now it’s decimating the US economy and by extension the economies of countries around the world. The US is the largest consumer nation; ask Japan, China, Germany, Korea and even Saudi Arabia how important a healthy US economy is to their nation. We buy MB’s, BMW’s, Honda’s, Toyota’s, Kia’s as well as electronics like Sony, Hitachi, etc. The manufacturing jobs have benefited China to the point it is an economic powerhouse. I could go on but you get the picture. Since Biden has been in office EVERYTHING has gone up in price from cars to homes to property taxes to homeowners insurance to car insurance and just the general cost of living has gone up due to the mismanagement of the US economy. I think you get the picture….
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  1321.  @kwanman5146  Of course, Trump through the use of tax cuts doubled standard deductions from $6K to $12K which benefitted a lot of people including you and me. He kept the borders secured and thus kept US citizens safe; since Biden has been in office, Larken Riley, an Augusta University student lost her life because of an illegal immigrant from Venezuela. He insisted that our allies start to pay their fair share of the bill; eighty percent of the UN's budget was paid for by the USA and 100% of the budget of NATO was paid for by the USA last time I checked. Always remember; everybody's your friend when you're picking up the tab. The fiscal and foreign policies enacted by Trump benefitted a lot of people around the world. A healthy US economy is VITAL to countries like Japan, China, Mexico, Germany, South Korea and Saudi Arabia to name a few; how so ? Well, we purchase MB's, BMW's, Honda's, Toyota's, Kia's as well as electronics like Sony, Hitachi and others; the US is the largest consumer nation and if it weren't for the US the aforementioned countries would not be where they are today with regard to their economy and world standing. The manufacturing jobs in Detroit have been exported overseas particularly to China and Mexico. All of this is common knowledge but people get into their emotions when it comes to Trump. There is NO denying that the cost of living has gone up for 90% of Americans from housing, property taxes, homeowners insurance, car insurance, HOA fees to grocery bills. There is no DENYING those facts no matter what the Biden supporters have to say; I'll stop here because I could go on and on but you get the picture.
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