Welcome back to real estate mindset and Happy Thursday evening I have a special Guest with us today at the Recommendation of Melody Wright and Jack Gamble they said you're a great guy so I Have Michael Ferris here today to help Talk about the house market I really Wanted someone to be here to make sure I'm not going absolutely crazy out of my Mind I think the housing market is Collapsing I think it's overall crazy to Buy a house right now I think people are Going to be blindsided I think there is Pain to come and Michael your job today Is to make sure I'm not crazy which I'm Not sure if you even have that Capability my friend how are you I'm Good how are You I'm Gonna Keep you I'm gonna keep You from you're gonna go to the ledge But I'm gonna keep you from falling off The ledge is that is that my job today That's yeah that's gonna be part of your Job today for sure but uh you guys if You want more information Mike actually Runs a podcast called coffee and a mic Some really really interesting very very Clean good content so if you're Interested in finding out more there's His ex Twitter profile coffee and a mic And then also he's on Rumble as well as Many many other platforms as far as Podcasting now sir if I may you know Before we dig in and I'm going to start
With redin we're going to go and take a Look at this data uh but can you tell The viewers a little bit about your Background yeah so I thank you for the Opportunity for to be on your show uh You know I'm I'm a huge uh love what You're doing love what you're doing Individually and also on the doomers News network so I I appreciate this Opportunity uh my name is Michael Ferris I'm the host of the coffee and a mic M Ke uh podcast I started it about six Years ago um you know my intentions when I started it was to just interests of Mine and um it was running back then uh Boxing I love boxing like one of five People that still watches it uh food uh So I set out to do in person in Phoenix Arizona where I live it's a mecca for Runners and chefs and La is very close Too to uh entertainment was another Thing that I was interested in and then When Co started uh I started shifting uh Into a little more um you know the Medical Side Medical Freedom uh some Political um and I also always had an Interest in finance um not to be not a Subject ma matter expert uh the way Travis is you are melody or Jack but I Worked in retail banking uh back during The 2008 the GFC uh doing home equity Lines uh first time I ever saw people Walk in terrified uh scared of the Uncertainty and uh ever since then I was
Always very interested in just our Financial system and um you know uh what It what it consists of and you know so It's kind of a brief Overview okay uh we'll jump into redin But real quick all right let me ask you This Question okay is Is Floyd Mayweather the best boxer of all Time so I'm a huge Manny Pacquiao guy That is my favorite of all time I've met Him I've met him I've watched him train In private gyms uh his trainer actually Ironically Uh he was the fifth podcast I ever did And the first podcast was yeah yeah what You you podcast with Freddy roach no way Fifth episode I ever did fifth or sixth And that was the thir first podcast he Ever did he ever did and he was I was in I was in Hollywood uh at his gym Recording with him and uh yeah there's a Whole backstory behind that but yeah so I I was able to watch Manny Pacquiao in LA in Las Vegas uh train and private Workouts so okay all right fair enough I Was at Freddy roach's Hall of Fame Induction Nevada Boxing Hall of Fame Induction I was at his 2013 uh I was at That ceremony okay all right that's fair I'll take that I'll take that as a yes Uh is the best uh and that you're a py Manuel Fanboy hey
Manwe too I I like Mayweather too you Know what you know what you look back on His career we can I can spend an hour Talking about all this stuff Mayweather Mayweather to me you look back on it and How he marketed himself because I I had Spent time with those HBO guys and like His marketing and like all of that we'll Never see that again and the amount of Money he made I mean he beat everybody I Mean whether you say Cherry Picked he Would and beat everybody so you beat Everyone defense wins you know wins Fights but anyways we'll move on to red Fin let's move on man I mean I didn't I Didn't realize you're so passionate About boxing but man I love Pac-Man I Absolutely love that guy for the person He is outside of the Ring especially Mike I'm gonna open up the redin article And I'm gonna make a deal with the Viewers if they don't add the math Correctly when we get to the median Sales price I'm not going to go through This anymore okay so if they've done Simple Elementary School math correctly We'll continue with this article but Before I get to that point name of this Week's article it says housing payments Have dropped to their lowest level since January but uhoh we were wrong home Cells are still falling so I just want To let you guys know remember rates were At 8% they're now at about 6.4 and yet
There ain't no one off the sidelines Right now there ain't no one that ran Back to go buy these overpriced toxic Fraud overvalued houses ain't no one Came back it was a joke it was a it was An illusion of legitimacy the whole time Was a fraud the whole time am I doing Okay so far Michael uh if not I Apologize but let me take you here all Right first of all demand's down across The board I'll get you some real data Here in a second but let's look at their Median sales price here's what I've been Watching and I've been trying to educate Viewers on how red fin is complete Garbage and they can't even do simple You know for they can't even do simple Math mic and the reason that is is Because they want the housing market to Seem stronger than what it actually is And so let's just do this simple math They're saying now this week you guys Can see September 1st 2024 the new 4 Week rolling median sales price is 3895 okay so you see 389 500 it's been 390 to 389 500 for five weeks so they Just Revis it after the fact but here's What I want to make sure they did as far As math okay they're saying this is About $5,000 below the all-time high uh in July 7th is that correct it says that Right Mike yes all right so this is About 5,000 below the alltime high well
Let's look what the alltime high was and Let's again let's just do simple math Here it is July 7th right here let me Click on this so we can see what the All-time high is and this is after Revision so it was higher okay so the All-time high is 395 987 is that right Yes here's uh something that I learned About in elementary school called a Calculator so let's put in 395 okay uh and let's just do this math Ourself let me just adjust this here I'm Going to put it under this because again They're saying 5,000 you see that so Here's the all-time high and let's Subtract 389 500 and let's see if this equals 5,000 all right Mike if it does I'll Shut up we'll continue on with this Article if it doesn't I'm not going to Waste our time anymore so let's see what Is is it 5,000 uh oh that doesn't look Like 5,000 to me Michael what about you No a little it looks a little bit off Like all four digits are different than The 5,000 all right well I don't want to Rip him up I don't want people to get The wrong impression I mean this does Frustrate me because again people lean On providers data providers that have Tried to become household names like This and it it's with Zillow as well but You guys they can't even they can't even Add their own math a child that is in
First grade can do even if you have no School at all if you could just push Buttons on a calculator you'll see that It's actually closer to $7,000 versus $5,000 so Mike um first of all you know tell me What your thoughts are on these data Providers do you think I'm just Cherry-picking data do you think I'm Only talking about this because it's not Favorable or I mean are your eyes open I Mean do you see this math there I mean What are your thoughts on these types of Adjustments well my first question to You is you know is this intentional Because you have to assume these are Algorithms that are calculating this Right so and if they are intentional What what is the goal behind It I agree and I've asked myself like That yes do you do you have an answer There I do well well that's why I'm Curious what what what your answer is Okay well my answer is is you know like All companies that make profit off of Real estate and by the way real estate's In the gutter right now it's in their Best interest to act like the housing Market is stronger than what it actually Is is if red fin was talking about the PE Ratio the payment income ratio how High that is how demand is absolutely in The
Gutter would people buy more houses or Would people buy less houses what what Do you think say they had the Capability if this data provider was Warning people instead of being Optimistic let me ask this different way Okay if they were warning people versus Being optimistic which scenario would They make more money In oh they won people buying more houses Because Why more Revenue right I mean keep the Party going they don't want people Burying their money hiding in a Cave that's right and if people stop Buying houses what happens to their Company there's no need for it anymore It goes Bankrupt and so now they're on this Hamster will so you know but I mean and This happens all the time with this Company do you think that we should Continue using their data Mic maybe maybe not why I mean I mean You can look you comes down to having to Do your own research still right I mean You shouldn't just so you can yeah log In just to kind of see just to see where It's at but you still have to do your Own due diligence to come up with you Know the numbers you can't go you can't Base everything on what they're Reporting yeah I mean and half the time They're making comments from realtors
That they're only design design with These comments is a push to purchase a Toxic house and so what I want to do is Again you know we can look at this data All we want but let's you know let's Look at the people that have purchased a House over the last three years can we Do that guys okay we know this data is Fraud we know they can't even do simple Math at least that's what I'm seeing Here so so let's now ask well what about People let's listen to people let's see What the people are doing right now so Mike and I want you to knock this out Here but here's the purchase index Application all right so you know rates Are at 7.22 they're all the way down now And the demand is lower okay this is a Purchase Index this Is formulating how much demand is there And even with a near 100 Point drop it Wasn't a 100 Point drop but even with The 100 Point drop demand is still lower Than what it was when rates were at 7.22% which means people aren't Buying do you agree with this data or do You disagree do you think that people Are still purchasing and and obviously My there's different markets it's about Location having said that what are your Thoughts here I don't know how people Could buy homes right now with the Current state of things so I I I I would Believe that people are buying there
Less houses being Sold yeah of course right right I mean Do do you remember when people I mean You're on social media right you you're An X people are crazy on X by the way Holy smokes I don't know why they're so Crazy I mean do you remember those Comments where oh guys you gotta hurry Up and buy you have to hurry up and bu Because as soon the second interest Rates go down there's going to be a Flood of people coming back into the Market to buy houses do you remember Hearing that I heard that in 2000 right After 2008 and uh I'm hearing that again I've heard that last year and I still Hear That I mean do you think that's a do do You think first of all do you think That's a true statement No Okay so if You're a professional and your job is to Make money off of consumers and you're Making statements like that do you think That those realtors that were making These statements and we have records now On social media do you think that they Should be liable for a Crime you have to be very responsible What he put on soci social media right And uh and IID always said you know Coming back to 2008 for a second you Know what if we had these platforms back Then where these Influencers you know say from a banking
Standpoint they have big audiences and They say ABC bank is in trouble and by The time that you know they M I got it Wrong whatever for whatever reason they Put it out there and there's a huge run On the banks and then it was like oh Wait that person it was that was not Accurate but it's too late so to go back To your question if you're a real estate Professional and you've got a big Platform and you can influence just by Writing comments like that yeah I mean You better know what you're doing before You put it out there well it turns out Michael at least on a nationwide average Every single realtor that said that and If they convince someone to buy and if Someone purchased a house based on that Fraudulent comment I don't see how the Realtor shouldn't be held liable so if You're a realtor and you're watching This and you say those things and you Said those things what do you think Think should you be held liable for Being wrong or no yes and if you are a Successful realtor and you said that and Now some of your clients are going Bankrupt should you refund them their Money can you Realtors can you refund Them their money if they purchased a House based on what you said and are now Going bankrupt isn't that partially your Fault what do you think Mike I mean Seriously or you think it's the
Consumer's fault because ultimately the Consumer has a decision to Make uh I think I think as as a real Estate professional you're you're Responsible for guiding your client and Doing what's in the best interest best Interest of your client versus yourself I know we don't live in that world There's very few people that do that Today uh which is one of the reasons I Mean one of the biggest reasons I think The state of the country is because Everybody's about thems and not doing What they should be doing um you have to Put I but I also think you know the Consumer ultimately not ultimately but I Think the the consumer is responsible You know understand you have to do your Due diligence too and um you know and Remember most people don't look out for Your best interest you have to look out For your best interest but yes the Profession the real estate professional I mean they they they need to look out For their Clients yeah you know and unfortunately The industry is set up in a way where it Is literally effectively gambling on Consumers having Apathy which is a lack of care and a Lack of concern um and and the thing is Is you know I just go back to the fact Again we don't have to guess what's Happening I mean again look at these
Buyers remor surveys there has been Buyers remor surveys over the last two Years that range from 72% to 93% over the last two to three years Meaning almost everybody way more than Half of people that are purchasing Houses right now have regret the only Problem is is like unlike renting where I could just walk away and go somewhere Else they can't do that they are trapped In their house with an inability to sell On average some people did their good Some people did do good and to those People good work but a lot of people did Not do good and those people are upside Down they cannot sell the only way out Bankruptcy Foreclosure and look at this survey Buyers remorse rooted in Surprise Property issues again they stopped doing It this year because they're like you Know what these buyers more surveys are Looking horrible but again if you go Back for last two years the remorse has Been 72 to 93% and do you have home buyers remorse Here's what to do next so you know they Go on and they say oh this is what you Need to do but look at what you got to Pass okay I'm trying to identify the Corruption so this article is designed To tell us what to do next here's what To do next have home buyers remorse but
In order to get to that information Michael and this is all part of the Brainwashing desensitizing look at I Have to go through interest rates see This look at this look at how many of These people are paying money to solicit The readers look at the it's still going How is this how are so many people my Gosh and then finally we get here and so Again yeah oh take your time see the House again don't skip your home Inspection only by uh when you are well Set financially I mean here's a hug Thing right okay can we talk about what This means they they don't explain This they don't explain this I mean can We talk about PE ratio can we talk about Savings can we talk about debt to income Ratio don't say that why don't they say That because they want consumers to know The bare minimum but Michael what we Know is if you're going to buy a house And you know the bare Minimum you're buying a house at almost The worst time in history to purchase do You own a house Michael I do not okay You know one of the things I try to Teach my community is identifying what a Good deal potentially looks like right Like what's wedge like how do we find Some if you're going to buy right now And I can't convince you otherwise all Right let me help you be like head Right because you don't have to listen
To me do whatever you want for the love Of God by right so someone came to you And asked you know Michael is there any Situation where it makes sense to buy a House what would you Say right now I would say no well yeah No I would say no any Situation well you know part of me Thinks I'm kind of smirking here a Little bit but part of me thinks you Know if the whole financial system is Going to crash anyway does it really Matter buy your House that's my Yeah but financially like from a would It be responsible right now to buy a Home outside of that let's say the System doesn't collapse uh I would not Buy a house right now so I Mean so basically the only thing so so Where you're at and you've talked to a Bunch of smart people the only situation That you could see yourself where it Would make sense for you to buy house is If you knew the government was going to Bail you out is that what you're saying Well not exactly what I'm like it's kind Of like the whole thing where I see People that are expanding their let's Say restaurants out here in Arizona and I'm like man how could you be expanding Your restaurants like like the cost of Food finding you know Finding Employees you know what have you uh
Labor shortages but then I'm like well If the whole thing's gon to you know if We're if we're entering an economic Collapse does it really matter in the Grand scheme of things and that's how I Feel about the houses like you know if I Would wouldn't buy a house right now but Also I mean if somebody's help Somebody's so set on buying it and um You know in the grand scheme of things Economically we're heading so we're Deteriorating so rapidly that maybe Maybe it doesn't Matter yeah you know I I remember Thinking like that a little bit keep in Mind in 2007 right so like in 2007 and I had a For I lost everything right I was Depressed I barely made it out alive for Nine years took me crawling out of the Gutter to get back to where I'm at today I lost my credit my income everything Great story by the way Travis sorry not To cut off that's all right so you know I had a foreclosure bankruptcy repo tax Lane and and you know what and I look Back I'm like what the hell was I Thinking problem was I wasn't thinking I Wasn't thinking I was probably thinking Like you know what it's just going to Work itself out let me just keep doing What I'm doing now and it will be okay And the government's got my back come to Learn Michael they never did they they
They bailed out the banks and still took My house my friend they bailed out the Banks and still took my house do you Hear me they gave the banks money Because they lost money on my house and They still took my house away and gave It to the Banks so like I don't think that you Know I think that's I think it could be I think a lot of people are where you're At I think there's a lot of people Saying you know what it's going to Collapse anyways they're going to bail Us out they're going to come some type Of loan modification program that may be That may be right okay they may you may Be right about that but I would still Caution people if you do that if you buy Right now and say it does fall apart say The government does bail you out like May happen your whole financial Situation's ruined just because they Bail yeah don't think you could go buy Another house your your credit is ruined Uh you may have garnishments you may be Sued from the creditors if you stop Paying your mortgage payment you're dead In the water your purchasing power is Dead so yes it's possible and honestly Michael statistically looking at history Yeah you know they probably bail it out And honestly I look back at my own Situation Michael I could have stayed in My house that I lost for two to three
Years and got $20,000 from my lender but Instead I thought I was doing the right Thing I left in two weeks I left my House gave it to the bank in two weeks I Should have stayed in that son of a gun For two years and got $25,000 but the Thing is is I didn't want to live that Way yeah no and let me let me let me Correct so not not that I expect the Government to bail people out nothing Like that uh because and it's going to I'm going to ask you a question after That I what I mean in terms of like the Economic Havoc or collapse that's coming I mean we're in it right now right and You and I just spoke about that earlier But if this gets as bad as potentially And I was kind of smirking because I Always say well you know if it's a Doomsday scenario does it really matter Because there's going to be millions of People that are going to be you know in Their house displaced whatnot you know Homeless what have you in a worst case Scenario so that's when I think to Myself well it does it really matter if You buy it now Enjoy it for a year two years whatever 10 years but in terms of I don't I don't Expect um you know people to get bailed Out or like individuals and they Shouldn't um but that's I mean do do you Think people still feel that way I mean Because I come across people that think
This isn't that bad and this is just a Bad time and we're GNA come back around And be and see a good time it's a cycle I hear that all the time I I mean I Think there's still a lot of Preconceived notions that individuals Get bailed out individuals don't get Bailed out Banks get bailed out the only Time in history where individuals got Anything from the Fed was recently in The form of stimulus sent directly to Our bank account so now look at the Situation so that that's the only time That I can recall Maybe I'm Wrong Correct me if I am where the individual Was bailed out now Michael they sell us On those bailouts as if they're going to Protect us as Citizens right like the Cares act the American Rescue plan the American Rescue plan the cares act Because you're going to help me right Government you're G to help me right fed No they just package it that Way and they're they're bailing out the Banks that's that's the sole purpose the Only purpose well I will say they have Two purposes bail the banks out and lie To us that's the Federal Reserve the Federal Reserve is the only job is to Bail out the banks and to keep us as the Public calm the heck down do you Disagree no I I agree with you Completely okay so so let let me let me Show you something else all right so
Again we don't have have to even look at Data Melody Wright just did a substack By the way I don't know if you saw her Substack M3 substack if you guys want Melody Wright's info I mean my gosh that When she can write I'm pretty jealous of Her writing but one of the things that She had in there Michael was this right Here so again going back we don't need The data we don't need to know what the Fed's going to do next we don't need to Know really what prices are right now Especially when we have fraud data Because all we have to do is look at the People that didn't listen and look at The people that purchased and this right Here you're looking at a delinquency all Right now this is telling you of the Total Delinquencies what year the home was Originated in or the loan was originated In okay so if I got a loan in 2020 you Can see that I you know I have about 8% Of the share of total delinquencies and What I'm trying to point out here is Look at the years with the highest level Of delinquency 2021 2022 and then it goes down a little Bit in 2023 those are the years Michael okay Again that's the highest delinquency Levels those are the Years with 3% interest Rates why do you think that more people
That purchased a with a 3% interest rate Have a higher delinquency than what People purchased with a 6% interest rate Why do you think that is Sir Uh inflation Now uh bought with no savings they were Of course into the Transaction yeah yeah I would agree I Would agree I mean that's what I'm Thinking right okay so they have a lower Interest rate but but their life got so Much worse Michael because most people That buy a house max out their debt to Income ratio so the people that Purchased like 2021 2020 2022 they have The highest increases of property tax And homeowners insurance and HOA if You're in Florida than the people are Today at least if you're buying today You already know your property taxes are Through the roof you already know your Homeowners insurance is through the roof And so those people that acted on that Fear of missing out like yes I got a 3% Interest rate hahaa well you had to do a Bidding war you had to settle on a house That you don't even want I know that Because the buyers more surveys and oh By the way you don't even have any Equity you guys have the highest rate of Foreclosure of delinquency You guys that purchased 2021
2022 have the highest rate of Delinquency and another thing is I I Think that's the category of loans that Had the most time go by after Quantitative Tightening so anything else you want to Touch on there Michael yes because it Was a bidding war going on at that what What's what's amazing to me about that Was you know when I moved to Arizona in '06 there was a bidding wars going on Crazy here but now where I'm from Northeast Ohio I don't know about now But back then 2122 there was bidding Wars going on There list within three days what do you Think's wrong with bidding Wars oh just shoots up the shoot I mean You you've got the the value of the Homes just Skyrocket to the point where They're not worth with they end up being Sold for and but but there's a safeguard That was supposed to be in place right The appraisal how did do do you Understand how the appraisers failed in This situation I do now because I've Been talking to you for the last two Days but I would know and but here how Many people do you think have no idea of What you know you've been the work that You've been doing and to to where we're At right now well I think a lot of People had no idea Michael uh I mean I Didn't have I mean I knew something was
Wrong and I had went way down the rabbit Hole but I still wasn't able to Articulate what was happening uh until Mitch gave me the missing pieces of the Puzzle uh with the fraud and with the Corruption and you know once you start Understanding that you can't trust what You're being told man your eyes are open I mean I've lot so much sleep Mike Because I just I can't stop thinking I'm Like well what if this what if that and I'll start searching and start going Down that rabbit hole and I'll find like Almost every Time it just it feels like everyone is Corrupt and dishonest man I mean it it Really feels that way what do you Think it tells me to people didn't learn From 2008 at All people people didn't learn I I had Thought I'd hoped after 2008 you know Maybe maybe it was possible to and this Is just me being naive I guess but that We maybe we'd go back to the 80% 20% Down like when my grandparents bought Their home and you lived in your house For 50 years right you didn't you didn't Care about like in Arizona nobody the House that people grew up in nobody owns That that family doesn't have it anymore Everyone's got the bigger what's the big Bigger house how can I upgrade how can I Get more stuff and uh I I just thought That maybe we would learn from from 2008
But we didn't and even like with you Know talking about e Appraisers 2008 man everybody was Everybody was enjoying the party right I Mean and uh and here we are again sad it Didn't have to be this way no it did not Have to be this way at all and I think That people are starting to wake up Obviously certain markets are showing The effects faster much faster actually Than other markets and I'm in one of Those markets that's literally oh my Gosh I mean I have so many factors going On right now uh but you know there's There's certain things we're not Guessing you know for one Mike an Amortization schedule you know we hear a Lot of people making comments like oh oh Your landlord loves you just keep making Your landlord Rich well I'm able to save Thousands of dollars of money I live in A nice area and my rent is Cheap I'm doing all right I'm going to Read you a comment here in a minute but Look at these amortizations schedule say You have the lower rate okay this is the Normal rate by the way guys last uh 15 Years but say you have the normal rate Today's rate about 6.375 you take the Average loan amount of 324,000 well you Pay back in interest 43,000 which means you pay more than 100% in interest at least if I'm renting I can walk away it's way more affordable
I can save money I'm not as stressed out But also I'm only paying 100% interest You buy a house right now and you don't Conquer this amortization schedule You're worse off than a renter and They're like well no no you're getting Equity you're getting you're paying the Loan down well no you're not you're not Paying the loan down look at after 10 Years okay after 10 years you see that Right there you've only paid that loan Down to 207 after 10 years Mike 273,000 You paid that down what about 50 Grand In 10 years that's what about 5,000 a Year it's actually less than 5,000 a Year these amortization Schedules it's a prison Center so if you Bought a house expecting to refinance Understand that if you a house Mak you Refinance and you refinance you just Destroyed your Equity you literally just Destroyed your loan you are no Longer I mean it's no longer smarter to Buy a house it is so out of whack it's It's crazy you have a house here trying To sell their property for 427,000 okay It's been on the market for 88 days they Cannot sell their house so again it's Listed for 427 when we go to the tax Records we see that it's actually Assessed market value Assessment okay right here market value Anyways 476,000 That means they're being frauded $50,000
In over assessment that's a fact and Then when you go to Zillow and you look At the same thing you start to realize Zillow okay that's the same house this Is the same house okay Zillow was saying This house was in the 500s and and high 400,000 for the last two years zillow's An absolute garbage and then it Plummeted you want to know why it Plummeted because Zillow just will go Off of MLS zillow's either going off of The Central Appraisal District or MLS And so when MLS updates it drops his Estimate estimate complete garbage in Fact if you go back the last time that Zillow had this house estimated at 427,000 Was the beginning of 2021 and they can't even sell it Michael They can't even sell it for 2021 prices And so again you know this you know is It in every Market in every house no but What you guys here is you guys see Cracks you guys see what's coming you Guys see what's Happening I mean to me it's just you Know you follow the math you find out What's going on you stay cautious and Just just do the right thing save your Money re-budget recalculate Empower Yourself I have two courses I made for You guys I have a course on home buying How to understand that wedge cash flow And I have a course on how to fight
Property taxes halfway done Michael what Do you think man what what do you think About all This well I want to ask ask you you know As we've you know we talked before and And now as long as you've been doing This did you ever Envision we'd be where We're at today and how do you feel Knowing that Knowing the Situation Um no um after the GFC when I when I Personally lost everything I it took me A long time to wake up to what the Federal Reserve actually was right it Took me a long time to understand the Federal Reserve is robbing Me and I assumed for the longest time That the laws were there everything was Safe appraisers are going to be Accountable we can't have this Overvaluation ever happen again so I am Surprised we're here again and how do I Feel about it it just it's very Depressing it's very depressing because Every time I ask why and I go down that Rabbit hole and I learn learn something It All Leads to the same Thing grade corruption fraud and ego Every time and I I always go back well What do you want to do about it Travis What are you g to do about it well the Only thing I know to do about it the Only purpose I see in all of this and
Even in our lives Michael is is we got To love people and we got to serve People but it is depressing my Friend so um I know you used to asking Questions man I mean anything you want To I feel like I kind of took over you Know anything you want to end on I mean You've interviewed a lot of people You've talked to a lot of people a lot Of smart people Michael so why don't you Before we go give us your maybe five Minute take you know however long you Want what is your overall interpretation And again take your time on what is Going on with the housing market what's Going on with the housing market Michael well I think uh you know I I Like to my show is kind of all over the Place with people I talk to but I think It there's a reoccurring theme with Everything right and the dots are all Connected and um you know where we're at From the real estate standpoint uh you Know again talking to people like you And Melody and and others uh just Financially where things are at things Are not good and I don't I don't know That there's no magic wand that could Come in and fix all this so the question Is you know what do what do people do Right now and because there's going to Be um tsunami Like my friend Matt Bracken says he uses That term a lot uh there are multiple
Tsunamis that are coming at us right now And one of them is a financial Standpoint so you know you cannot stop Stop that tsunami that's coming uh so You could just try to prepare yourself The best that you can and I you know I Think in terms of that is you know get Close to your local community and do What you have to do uh to get through it And um you know that means uh you know Moving back in with family or you know Having family moving with you or you Know whatever you know whatever whatever Is necessary um to to get through this Situation so that's what I tell myself That's what I you know I try to tell People um you know again it depends on What I'm talking about but I think it's Kind of the same theme for all of it and Um and people need to you know hold Yourself accountable and um stop burying Your head in the sand because um this is Not going Away I have this conversation with Friends all the time and they they they Like you're such a Doomer you're like I'm not a Doomer I just it to me it is What it is and um you can't just bury Your head in the sand Uh yeah I mean some you hit some some Great points I mean I like what you were Saying about local community how Important local community is because the Other thing that's hit me in the guts
And and and honestly man I mean like This is this does depress me I mean I do Have horrible days Um it's the division man it's it's how Much the elite and the media has kept us Divided I feel like there's Powers you Know evil powers that tomorrow they can Divide half the us against each other And so the community is so important and I want to read this comment if I can From the community of real estate Mindset this happened this morning I'm So proud of him uh his name is Mr Watson And a little bit of background Michael You Know M Mr Watson doesn't agree with Everything I say um he doesn't he he He's a little bit more bullish he wants To buy a house uh you know but we both Are smart enough to know we shouldn't Settle right we both are smart enough to Understand that math matters right and I Love Mr Watson again we don't we don't Share the same views but I want you know Again he's more bullish but look at his Response and this is how I know what We're doing Michael is working because The community it doesn't matter as much What you and I do it matters what people Do when this video ends are they feeling Empowered are they feeling United are They feeling like they can love are they Feeling like they can lead so this guy Um you know the Observer he's in our Community we don't we don't you know
Freedom of speech whatever unless it's Like super psycho uh which is I don't Think that's really happened before but You know this guy was kind of trying to Belittle people in into purchasing a Home right just like the same old it's Like we haven't like we haven't heard That for two years Maniac but anyways He's like you know all right this is the Narrative your narrative is wrong and You guys are still on the sidelines haha Right like like you're the psychopath Paying you know tax is trying to bully People into buying like and spending Their money like do you hear yourself Talk but but again it doesn't matter What I'm saying look at Mr Watson how he Handled this this is his comment and Again like I said he's more bullish this Is what he said you acting like being on The sidelines is a Bad Thing Affordability has risen tremendously in The p in the last few years by Increasing down payment while prices Have leveled out and rates continue to Drop you can try to shame people into Home ownership but my cheap rent in a Nice area allows me to save thousands And I won't pay interest out per month Believe me we are not hurting out here When he said that and again he's more Bullish right I was so proud of him man Man I was so proud of him you know He that's a leader man that that to me
That's someone that's leading with love What is what is your take on that Comment yeah I mean it makes a lot of Sense I mean I I rent right now and uh You know and the other thing is with That you know home ownership you don't Even factor in the repairs that you're Going to have to do over the that course Of you did a 10-year amortization what's What's a roof going to cost you if that Needs to get fixed or the air Conditioner furnace um so you know Renting right now is is they just call They just come my air went out yesterday In Phoenix I just called them they came Right over three of Them yeah I mean I I wielded and deal on My rent you know my landlord well my new Landlord now my other house is full of Mold I mean I don't know what else to Say man I mean if you want to buy a House if you're watching this you don't Believe it you want to go buy a house This is what I like to say to you then Go buy One you don't have to bully other people And shame other people to following the Same poor decisions that you're making And if anyone disagrees with what we're Saying I'd like to encourage them start A class start a channel help people you Don't agree with what you you we saying And you think it's better for people to Buy right now then please explain with
Math not with your emotions and not with Your words explain to us please guys I Challenge you explain to us Mathematically how is it smarter right Now to own versus rent now other than That Michael anything else you want to Say before we go I was going to say you Know and if if if the person has big Enough audience come on real estate Mindset and debate Travis on this bring Your numbers battle Yeah I mean you know What you know what I learned about these Um debates people hate them people hate Them because usually unless there's Value in it it it's hard but I did do a Debate I've only done one debate despite What people think I've only done one Debate on my channel and I was like you Know what let me just get the top dude Right let me just get Logan you know What I mean and people hated the video Absolutely hated it so I was like like Why man I I honestly I think it's a good Thing Michael I love debating because Well not deba but more see having a Conversation I love having conversations With people that have a difference of Opinion can we say that instead of Debate yes so I don't know but I mean One thing that you're you're you know I'm not going to work with is people That are being petty and abrasive I Don't you know I'm not a perfect person I'm just a normal human being if you're
Petty and you're abrasive to me I'm GNA Turn my back I may even make a joke that Just makes me human doesn't it I never Said I was God right yeah yeah so all right brother Well I appreciate your time I'm going to Get everyone out of here happy Thursday Again you guys sorry this was a little Bit informal but you know I went into Red fin I was like I just can't do it I'm like they keep lying to us I can't Do it I was working with Michael McMichael can we just do an unformal Video for this Thursday evening talk About the house market he agreed so Again guys don't forget to show him some Love coffee and a mic and if you guys Are out there investing in real estate You guys already know we wish you luck And we do hope you win
