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Michael Bordenaro

Morgan Stanley says that the housing downturn is virtually over and any substantial drop in home prices is off the table.  Yet they are still predicting home prices will fall 2% in 2023.  While that may not be a "substantial" drop for 1 year, lets not forget, that during the last housing crash home prices did not go down by more than a few percentage points per year.  Housing crashes move slowly.

Housing Market Update: It's FINALLY OVER!

Texas State

According to Eviction Lab, evictions in certain cities across the U.S. are now soaring past pre pandemic numbers.  These evictions are going to have a massive impact on the U.S. housing market in terms of available housing options for potential buyers and tenants, the amount of rental and for sale inventory available as well as unfortunately the amount of homelessness in this country.

Evictions Are SKYROCKETING Beyond Pre Pandemic Levels

There have been some major affordability challenges for recent homebuyers.  So much so that roughly 46% of new homeowners are reporting they are struggling to afford their monthly mortgage payments and likely bit off more than they can chew.

46% Of New Homeowners CANNOT AFFORD THEIR HOUSE PAYMENT!

Nationwide, renters now are saving MASSIVE amounts of money compared to homebuyers.  In fact, right now the average renter is saving $1,030 per month VS the typical U.S. homebuyer.  The housing market no longer makes sense, so why are people still clamoring to buy?

Your OBSESSION With Homeownership Is MAKING YOU BROKE!

South Carolina State

In a recent survey from Charles Schwab, it was determined that 75% of parents who own a house will pass it down to their children.  It was also determined that 70% of those children will likely sell the inherited home.  Is this a large future source of inventory for the housing market?

HUGE Source of NEW LISTINGS Coming To the Future Housing Market

Florida State

Citizens insurance in Florida has grown from 420,000 policies in 2019 to 1.3 million in 2023.  They recently have requested Florida state regulators a 13% increase for their homesteaded homeowners insurance policies. But if you think that's a lot, those folks will be considered lucky since some private insurance companies are looking at raising rates between 30-60%!

60% RATE HIKE Coming To An Insurance Near You

California State

Miami Shores, FL

Farmers insurance has now become the latest company to completely reverse their remote work policy and will now require over 21,000 employees to come back to the office 3 days per week.  Remote workers for this, and many other companies were promised remote work, and and are  now furious over the back to office mandates.

Remote Workers FURIOUS With BACK TO OFFICE Mandates

Large real estate investors known as "syndicators" are losing billions of dollars and the worst part is, its not their money they are losing, its yours.  These real estate investors are allowed to collect investments from small investors, pool it together and then borrow large sums of money to buy multifamily properties.  Only problem is, these real estate investors make money regardless if the investments they purchase make money.  And the only real loser is you, the investor.

Real Estate Investors LOSING BILLIONS (Of YOUR Money...)

Here is the the reality check, according to a new working paper from the National Bureau of Economic Research shows that those whose loans were frozen by the moratorium borrowed more on credit cards and mortgages and took on more student loan debt instead of paying down the debt they already had.

What this tells us is give people an inch, they want a foot.  Stop their payments, they find other ways to spend the extra money.

NOTICE Student Loan Payment Pause = MORE DEBT (PROOF)

So many would be home buyers are freaking out right now because home prices are going back up.  Why is that?  I thought we were supposed to be having a housing market crash?  There is actually a very good explanation for this and also, this is what is likely to come next.

Why Home Prices Are GOING BACK UP AGAIN!

Nearly two-thirds of Americans planning to buy a home have decided to postpone their search until mortgage rates come down from their current elevated levels, according to the most recent BMO Real Financial Progress Index (a forward-looking indicator of consumer sentiment regarding personal finance).

While potential homebuyers in today’s market are very rate-sensitive regarding a home purchase, they’re also considering other factors. The survey shows that 65% of respondents are delaying their homebuying plans because of overall economic uncertainty.

Buyers GIVE UP As Homeownership Costs Rising EXPONENTIALLY

Colorado State

Citizens insurance here in Florida is proposing a homeowners insurance increase of 12% for all homes that are primary residences and up to 50% increases for investment properties and or vacation homes!  And here's the thing, this is not just a Florida problem, insurance companies are pulling stunts like this all across the country.  How much longer until homeowners insurance explodes?

Homeowners Insurance is ABOUT TO EXPLODE!

What happens to a mortgage when you die?  Does it just go away, is it forgiven, inherited, transferred?  We'll go over some of the details on that as well as cover some of the more dangerous types of mortgage that currently being offered by lenders.


Mortgage REALITIES Not Even in DEATH Do US PART...

Many new homebuyers that purchased real estate over the last few years have been totally blindsided by the tremendous cost of home ownership.  So much so that new home owners on average are paying an additional $17,459 in annual expenses for their home maintenance on TOP of their monthly mortgage payments.

New Home Owners BLINDSIDED By TREMENDOUS Cost To OWN

Oregon State

o many remote workers during the pandemic uprooted their lives, moved away from congested expensive metros and into more affordable suburban neighborhoods.  But now that the pandemic has been declared "over" many remote workers are being called back to the office, often after purchasing real estate in other parts of the country FAR AWAY from their jobs.  What will they do?

Remote Workers LOSING BIG Going Back To Work

Homeowners insurance is becoming an unbearable expense for many homeowners, especially in Florida but in other areas of the country as well.  In some cases you have insurance premiums doubling or even tripling year over year or folks losing coverage all together after paying decades of premiums.

MASSIVE Insurance Increases Starting To BANKRUPT Homeowners

It is becoming more and more apparent to me, that no matter how big the mistakes humans have made in the past, that the people of today are bound to repeat them at some point.  Usually that comes for a lack of knowledge of history, carelessness, negligence or all of the above.  But, the good thing is, one persons loss can become anothers gain.

Exactly What NOT TO DO Right Now...

Now that Redfin has officially recorded year over year price drops in the U.S. Housing Market. Next the Case Schiller Home Price Index and National Association of Realtors will soon be reporting year over year drops as well.  Now that the housing market crash is official, what now?

People FINALLY ADMITTING The Housing Market is CRASHING

Today's example story is a perfect illustrations of how worried home sellers are in shock at their homes not selling.  But why aren't they selling?  Well the home sellers are still in the market mindset from 1 year ago, thinking they should be able to sell their homes for the same amount if not even MORE than homes sold for a year ago.  Are they in for a rude awakening...

WORRIED Home Sellers In SHOCK Over Unsold Homes

Miami Beach, FL

Banks are starting to close accounts and tighten credit even with good customers for no reason.  How do I know!  Because it is happening to me.