I went house shopping yesterday (what I learned)

(6/30/2024)

• 🏠 There is a housing crash underway, but it presents an amazing opportunity for those prepared to take advantage of it.

• 📈 There's always a time to buy a home, but specific reasons to stick to if buying at the peak of a cycle.

• 🏡 Knowing the market's going to crash, I did this in 2005 knowing my house was going to fall 50% and I'll explain to you how it's going to work.

• 🏡 Buying down rates can be seen as free money when purchasing a home, making it an attractive option for potential buyers.

• 🤑 The impact of price points on house shopping: "Lenar is going to be really sweet because they're going to be super desperate."

• 🏡 Your success in buying a home is based on how you buy it, not just the price.

• 🏡 The idea of adding a NextGen add-on to a house to turn it into a duplex is intriguing and could be a great investment opportunity.

• 🏡 There's no bad time to buy a house, only bad deals and unrealistic expectations.

• 😬 There's nothing like being able to walk into a deal and peel $25,000 off a deal and knowing that the person before you and the person afterwards has no concept of how to do this right.

• 💸 Negotiating for $25,000 in upgrades if the loan guy comes in at the same rate or lower can be a smart move in house shopping.

• 💰 The salesperson was determined to make the sale happen "whatever it takes," highlighting the aggressive nature of the industry.

More Americans Can't Afford Their Mortgages

(6/29/2024)

• 💸 The pursuit of lower inflation has proven to be an obstacle for the American housing market, leading to a 16% year-over-year surge in mortgage delinquencies.

• 🏦 Becoming a prime borrower can make banks bend over backwards to give you money with no points and the best rates possible.

• 🏠 Many people would say that 1.3% is nothing, but the news story is actually a handful of weeks old and the numbers have crept up past that.

• 📉 Delinquency rate numbers are a snapshot of the past, and the speed at which they can change is significant, with a difference of two quarters resulting in a significant increase.

• 📈 "I was selling my 14 homes and my rentals and I was heading for the hills and getting ready for the greatest opportunity ever, and it led to me being able to start multiple businesses and buy assets for pennies on the dollar during the Great Recession."

• 🏠 Are you going to be ready for the upcoming mortgage crisis, or will you sit on the sidelines and watch it unfold?

He Just Did It

(6/25/2024)

• 💸 The opening of second mortgages is like "money raining down on this country," but it comes with the risk of people losing everything.

• 💰 People will be paying off debt by tapping into their home, changing the way they pay interest, due to inflation squeezing their household finances.

• 🏦 Home equity line of credit or second mortgage, despite higher interest rates, can be a useful tool to pay off debt if managed properly.

• 📈 Increasing financial education is crucial to raising the bar and addressing these issues in America.

• 🏠 People tapping into their home equity to pay off debts and the potential impact on interest rates.

• 📉 The increase in car payments could lead to an acceleration of a real estate crash due to people owing more on their homes as prices fall.

Walmart Is Making A Big Price Change

(6/26/2024)

• 🛒 Walmart's new pricing scheme may turn into a real scheme, raising concerns about transparency and consumer deception.

• 💸 Walmart is replacing price labels with digital screens, but claims it won't use surge pricing, sparking skepticism about their pricing strategies.

• 🤔 Walmart stores have over 120,000 products, each requiring regular price changes, which could impact employees.

• 📈 The speed and ease of updating prices with the new technology has raised eyebrows, leading to questions about the possibility of Walmart implementing surge pricing.

• 📈 Surge pricing at Walmart could lead to price increases during peak hours, potentially impacting customers' wallets.

• 🤑 Wendy's faced backlash for plans to introduce dynamic pricing at its restaurants, which Senator Elizabeth Warren called price gouging plain and simple.

• 🛒 Walmart insists on everyday low prices, but the introduction of surge pricing would contradict this pillar.

It's Happening

(6/27/2024)

• 🌀 The current economic situation is like being in the eye of a hurricane, calm before the storm hits from a different direction.

• 💰 Data sources like St Louis Fred show that nationally home prices have fallen 8%, the same amount as the entire Great Recession, but the metrics have been changed to hide this information.

• 🏡 Real estate is the main difference between wealthy and poor people when it comes to investment vehicles, offering five different ways to make money.

• 🔥 The nation is being robbed through taxes and inflation, with people unaware of the impending consequences.

• 🏠 The current economic situation presents an opportunity for those with financial stability to build up their resources and invest in real estate.

• 💰 Leveraging a bank's money at the bottom of the market can be a valuable strategy for real estate investment.

• 📉 The current housing market cycle is leading to panic and short sales, impacting those who can't pay their house payments.

• 👥 "The people that have understood that are the kind of people I want to be around."

This is why I am boycotting Legos

(6/28/2024)

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