Foreclosure Numbers - ON THE RISE

Need help with Real Estate!
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[mydressmemos]

Every week I buy more of whatever is the lowest percentage of my portfolio and try to keep everything around 10%. Please what could be my safest buys with $400k to outperform the market in 2024?

[eemapalmer]

Thank you Scott for the best economic reports always.

[ronie]

I agree, real estate downturn is around the corner, especially in Florida. Classic real estate cycle by the book, as rents are stagnating/decreasing . Keep up the great content

[rayzimmerman]

Great, honest assessment of the situation. Look forward to your reporting and commentaries.

[john.johnb_online]

Thank you
Love the channel
Like minded

[cmo_rocks]

I had to sell for less than i paid after living in my home for 10+ years back in 2010 and that's not counting all the renovations. I saw yesterday it sold for 2x 12 yrs later. The only thing that saved me on that house was paying extra on the monthly payment or i would had been underwater. I walked out with enough cash for a new build down payment in another state. This new home has doubled and i like my new career better. I'm on track to pay off in under 15yrs so keep paying extra on that payment.

[JosephMcMackin]

2006-07 was normal interest rates and moderate houses prices. This time was low interest rates and high priced real estate along with property taxes and now insurance.

[straighttru]

The Greater Fool Theory is in Effect! 😂

[marksgoogle]

Im shocked to see them at all. if market was so hot there would be no need to foreclose

[chanelwilliams]

Hello. First time ever question. My family and I are looking to escape the rat race of rising rent cost every year a possibly try something different and out the box to rent a home this year before we have to sign our lease again next month. What advice would you give to start. I see videos on wholesaling and buying tax lien homes. I also was wondering can I get a list of pre foreclosure homes and ask someone about to loose their home can we rent their home before they loose their home? What do you think? Or go on Zillow and start calling people who are selling their home and ask can we rent their home to take it off the market? I am looking to try something radical and something I never done before. I can’t tell you how many times I was told no and when I tried they came back with a yes anyway. What do you think? Any suggestions?

Thank you in advance.

[raphtranter]

During the 2008 housing crisis the banks allowed a lot of homeowners who were about to be foreclosed to stay in their houses up to two years without making a payment to avoid another empty house on the bank's books and to slow the expanding crisis. When the homeowners were finally forced out they sat on the bench for three years and then bought back into the housing market.

During this era a number of people pulled strategic foreclosures. They let their upside down house go into foreclosure when they could still make payments and in some cases they bought another bargain priced house with cash. A homeowner in my neighborhood was renting out his upside down house. He quit paying his mortgage and HOA fees while he was still collecting rent payments.

There were essentially no consequences for these scammers. They'll do it again when the opportunity arises.

[TennantMary]

My area is going up but that is due from all the working in Boston and coming to my city. My property went 75% value up since 2020

[edgargonzalez]

2008 Recession was bad, what help was inflation was low. If we get a recession with inflation at this level, many people will go belly up.

[Putcali]

*_I'm admittedly bummed that I didn't go with my gut instinct & buy bitcoin few months back when it was 50k - 55k range. is it too late to get in and make profits? i have set aside $150k to get fully invested this year_*
....

[edwardsteinmetz-glzl]

For the algorithm. I hope you are in good health S.

[Ppp-yq]

With the number of layoffs this year, the foreclosure rate will definitely increase.

[wallye]

Thank you Scott. For acknowledging there are locations in real estate will tank (much harder than now) others will stay level and yet even some areas we’ll see demand and prices rise. It’s nothing new however the severity and increased number of areas that will head towards the downturn. will sadly be issues for many. I’m old. I’m OK I’ve been in the real estate construction investment-space for over 40+ years. I’m not greedy or a pig so I won’t get slaughtered that is not to say, I won’t feel some pain. in my honest opinion the government needs to stay out of it let things land as they may, and this will allow for a faster recovery. PS first property 17% interest rate in the 1980’s 20% down perfect credit…. Plus jobs were more scarce… that’s what I’m hoping for as I’m prepared…

[qbqmmpn]

I agree that the housing market has been manipulated since the early 2000s. This coincides nicely with Bill Clinton's repeal of the Glass-Steagall Act in 1999.

[DPhasely]

The mall was jam packed today. Everybody spending in the shops and eating in the mall restaurants. I thought people were hurting due to inflation and the economy???🤔

[owen]

Just read the book by David Webb on "the great taking", wow! Free online, 99 pages