Posted on 03/11/2024 10:02:31 AM PDT by Paul R.
Ken McErloy dives deep into the economic landscape of 2024, drawing comparisons to the 2008 financial crisis through an analysis of over 10,000 tenants across the United States. He discusses the realities of inflation, unemployment, and the housing market, revealing the pressures on the average American's financial stability and lifestyle adaptations in the face of economic headwinds.
(Excerpt) Read more at youtube.com ...
I do note that the issue of what this renter is charging is rather carefully sidestepped. How much is due to rental owner's costs going up, and how much is due to increased demand? And of course the issue of demand on housing caused by influxes of huge numbers of illegal immigrants is also not covered.
And of course the issue of demand on housing caused by influxes of huge numbers of illegal immigrants is also not covered.
I am hearing, that in the next year to 18 months, we are looking at collapse of the US dollar. The looming crisis, debt crisis from credit cards, government overspending, and commercial real estate, will be a 50 Trillion dollar debacle. A slow, real, and nearly unstoppable train wreck of an economic collapse, mostly the result of Biden Spending and a released Virus. This may be why Bitcoin and Gold are spiking, because the people in the ‘know’ are already preparing. Would welcome any bankers, especially those attacked to the central banks, opinion.
Our national financial management is horrible. It’s a problem that permeates both parties because, how do you get elected? You spend money to buy votes. So that problem won’t go away. But I don’t think we’ll have a Weimar Republic style collapse. That’s because we’re living at a time of huge change. The demographic dividend that gave every country in the world the opportunity to sell stuff at home and abroad is ending. People stopped having children. As a result, those who do have money abroad are sending it to the US where it has a better chance of being invested in something that will grow. How’s it going to grow? We have to build out the infrastructure to manufacture everything we used to get from China. We’re cutting down the suppliers from overseas to NAFTA, Japan, some of Europe and possibly Vietnam. I’m sure I left out a few, but there are tiny manufacturers all over the Pacific, some are just one building on a tiny island. Ships won’t be stopping there anymore. Their populations collapsed and the plants are empty. We’re going to be broadly okay. The rest of the world, not so much. This is one reason we have refugees from all over the planet crossing our southern border. THAT is the biggest disaster we’ve seen since 1929.
My rent went up another 20% this year after 20% last year.
Just a few things from my trip to the grocery store Saturday.
1 dozen eggs (nothing special) $5.50
Everything that was 1lb is now 12 ounces.
I bought one of those little pints of ice cream. It must have been 60% air.
Salmon. $16 a lb.
Gasoline still $4 a gallon
Diesel still $5 a gallon
The store was filled with chubby Spanish speaking peoples who I have never seen in this town. ALL had EBT cards and carts full of groceries.
American taxpayers are being sh*t on by government. I think given all the fees we pay, anyone earning under 400k should pay no taxes.
Exactly. This is way more dire than even I had thought. Very low housing stock and unaffordable housing has pushed millions into the rent market. Rents have skyrocketed and we’re importing millions upon millions of third-worlders. Without mass deportation where are they going? Local airports? Bus stations?
This is a huge mess that could ultimately lead to uprisings. People are simply running out of economic options. The gig economy, flex paying debt. It seems we are near the end of of the road.
Thanks for sharing. I watched another of his videos that came up. Looks like good sense on how to find opportunities in coming problems. Of course it will take work, and willingness to change.
when 80% of the electorate are economic illiterates, this is where you end up ...
Take action now to get you’re personal/household finances under control. There are going to be some bank failures, government spending is going to continue to rise unchecked, the labor market will continue to downsize, inflation will at best increase 3.5-4.0% yearly. There is simply too much money in the system to bring inflation down, too much bad credit soon to become delinquent to keep the banking industry solvent. It seems fairly obvious but allow me to state that individuals who see the reality should 1. pay off consumer debt. 2. Save at least 6 months income in an emergency fund. 3. Pay off your mortgage. 4. save some more in addition to the emergency fund. Lots ‘O misery headed our way. Something like 40% of Boomers have nothing saved for retirement. It is going to get ugly.
10,000 tenants?
He shouldn’t put his face on Youtube
when the woke neo-marxist revolution comes, he’ll be a first target
I don’t think your % is low enough, I think it’s closer to 95%, 99% for those under 35.
See, just like angry-man Joe said in the SOTU, "The economy is fine."
I think what will happen eventually is that those with housing will be forced to take in illegals or their houses will be taken from them.
Funny, watching this YOUTUBE, they seemed 100% more credible and believable than Joe Biden in his State of the Union Address. What a contrast.
“It’s a problem that permeates both parties because, how do you get elected?”
Yes, but that’s how we do things. A first step would be having only citizens vote.
Interesting post. The cheap-ness of floating goods halfway around the world is a true double-edged sword.
The printing presses have been slowed down. While this minimizes more inflation it also causes recessions. That is what we have coming
.
“Yep. Where are all the millions of ‘newcomers’ going to live?”
Perhaps the commies plan to mandate that all non-leftists must house them for free. Anyone that has an extra bedroom in their house might be in for a shock, should these leftists remain in power.
One thing is already for certain. The OBiden regime will force taxpayers to foot the bill on it all. They already are, in fact.
He shouldn’t put his face on Youtube
Ken McElroy is a multi-family property investor whose company owns many large apartment complexes around the country. He is Robert Kiyosaki's real estate advisor and freely gives out vast amounts of good information to new investors on his YouTube channel.
He can afford to buy a Senator or two if he needs them, so he doesn't live his life worrying too much about what Communists think of him. :)
Were I him, I’d be more worried about recent border crossing invaders already well versed in the fine art of kidnapping and sending body parts until they are paid...
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